Receivables

9 Months Ended

Sep. 30, 2021

Receivables [Line Items]

Receivables

RECEIVABLES

Sales of Accounts Receivable - IPL maintains a Receivables Purchase and Sale Agreement (Receivables Agreement) whereby it may sell its customer accounts receivables, unbilled revenues and certain other accounts receivables to a third party through wholly-owned and consolidated special purpose entities. The transfers of receivables meet the criteria for sale accounting established by the transfer of financial assets accounting rules. In April 2021, IPL amended and extended through March 2023 the purchase commitment from the third party to which it sells its receivables. Effective April 2021, the limit on cash proceeds is $110 million. As of September 30, 2021, IPL had $60 million of available capacity under its sales of accounts receivable program. IPL’s maximum and average outstanding cash proceeds (based on daily outstanding balances) related to the sales of accounts receivable program for the three and nine months ended September 30 were as follows (in millions):

	Three Months		Nine Months
	2021	2020	2021	2020
Maximum outstanding aggregate cash proceeds	$110	$1	$110	$96
Average outstanding aggregate cash proceeds	65	1	52	12

The attributes of IPL’s receivables sold under the Receivables Agreement were as follows (in millions):

	September 30, 2021	December 31, 2020
Customer accounts receivable	$145	$114
Unbilled utility revenues	83	92
Receivables sold to third party	228	206
Less: cash proceeds	50	1
Deferred proceeds	178	205
Less: allowance for expected credit losses	14	17
Fair value of deferred proceeds	$164	$188

As of September 30, 2021, outstanding receivables past due under the Receivables Agreement were $19 million. Additional attributes of IPL’s receivables sold under the Receivables Agreement for the three and nine months ended September 30 were as follows (in millions):

	Three Months		Nine Months
	2021	2020	2021	2020
Collections	$607	$561	$1,589	$1,555
Write-offs, net of recoveries	4	1	7	4

IPL [Member]

Receivables [Line Items]

Receivables

RECEIVABLES

Sales of Accounts Receivable - IPL maintains a Receivables Purchase and Sale Agreement (Receivables Agreement) whereby it may sell its customer accounts receivables, unbilled revenues and certain other accounts receivables to a third party through wholly-owned and consolidated special purpose entities. The transfers of receivables meet the criteria for sale accounting established by the transfer of financial assets accounting rules. In April 2021, IPL amended and extended through March 2023 the purchase commitment from the third party to which it sells its receivables. Effective April 2021, the limit on cash proceeds is $110 million. As of September 30, 2021, IPL had $60 million of available capacity under its sales of accounts receivable program. IPL’s maximum and average outstanding cash proceeds (based on daily outstanding balances) related to the sales of accounts receivable program for the three and nine months ended September 30 were as follows (in millions):

	Three Months		Nine Months
	2021	2020	2021	2020
Maximum outstanding aggregate cash proceeds	$110	$1	$110	$96
Average outstanding aggregate cash proceeds	65	1	52	12

The attributes of IPL’s receivables sold under the Receivables Agreement were as follows (in millions):

	September 30, 2021	December 31, 2020
Customer accounts receivable	$145	$114
Unbilled utility revenues	83	92
Receivables sold to third party	228	206
Less: cash proceeds	50	1
Deferred proceeds	178	205
Less: allowance for expected credit losses	14	17
Fair value of deferred proceeds	$164	$188

As of September 30, 2021, outstanding receivables past due under the Receivables Agreement were $19 million. Additional attributes of IPL’s receivables sold under the Receivables Agreement for the three and nine months ended September 30 were as follows (in millions):

	Three Months		Nine Months
	2021	2020	2021	2020
Collections	$607	$561	$1,589	$1,555
Write-offs, net of recoveries	4	1	7	4