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Benefit Plans
 9 Months Ended
Sep. 30, 2022
Benefit Plans BENEFIT PLANS
NOTE 10(a) Pension and OPEB Plans -
Net Periodic Benefit Costs - The components of net periodic benefit costs for sponsored defined benefit pension and OPEB plans for the three and nine months ended September 30 are included below (in millions). For IPL and WPL, amounts are for their plan participants covered under plans they sponsor, as well as amounts directly assigned to them related to certain participants in the Alliant Energy and Corporate Services sponsored plans.
Defined Benefit Pension PlansOPEB Plans
Three MonthsNine MonthsThree MonthsNine Months
Alliant Energy20222021202220212022202120222021
Service cost$3$2$7$8$—$1$2$3
Interest cost9927261143
Expected return on plan assets(18)(17)(52)(51)—(1)(3)(3)
Amortization of prior service credit—(1)—(1)————
Amortization of actuarial loss81024291123
$2$3$6$11$2$2$5$6
Defined Benefit Pension PlansOPEB Plans
Three MonthsNine MonthsThree MonthsNine Months
IPL20222021202220212022202120222021
Service cost$1$1$4$5$—$—$1$1
Interest cost4412121122
Expected return on plan assets(7)(8)(23)(24)(1)(1)(3)(3)
Amortization of actuarial loss351013———1
$1$2$3$6$—$—$—$1
Defined Benefit Pension PlansOPEB Plans
Three MonthsNine MonthsThree MonthsNine Months
WPL20222021202220212022202120222021
Service cost$—$1$2$3$—$1$—$1
Interest cost4312111—21
Expected return on plan assets(7)(8)(23)(23)————
Amortization of actuarial loss451214—112
$1$1$3$5$1$2$3$4

NOTE 10(b) Equity-based Compensation Plans - A summary of compensation expense, including amounts allocated to IPL and WPL, and the related income tax benefits recognized for share-based compensation awards for the three and nine months ended September 30 was as follows (in millions):
Alliant EnergyIPLWPL
Three MonthsNine Months Three MonthsNine Months Three MonthsNine Months
202220212022202120222021202220212022202120222021
Compensation expense$3$4$9$9$2$2$5$5$1$2$4$4
Income tax benefits1133——11——11

As of September 30, 2022, Alliant Energy’s, IPL’s and WPL’s total unrecognized compensation cost related to share-based compensation awards was $8 million, $5 million and $3 million, respectively, which is expected to be recognized over a weighted average period of between 1 year and 2 years.

For the nine months ended September 30, 2022, performance shares, performance restricted stock units and restricted stock units were granted to key employees under existing plans as follows. These shares and units will be paid out in shares of common stock, and are therefore accounted for as equity awards.
Weighted Average
GrantsGrant Date Fair Value
Performance shares74,106$54.45
Performance restricted stock units84,67057.01
Restricted stock units77,12256.88

As of September 30, 2022, 285,909 shares were included in the calculation of diluted EPS related to the nonvested equity awards.
IPL [Member]  
Benefit Plans BENEFIT PLANS
NOTE 10(a) Pension and OPEB Plans -
Net Periodic Benefit Costs - The components of net periodic benefit costs for sponsored defined benefit pension and OPEB plans for the three and nine months ended September 30 are included below (in millions). For IPL and WPL, amounts are for their plan participants covered under plans they sponsor, as well as amounts directly assigned to them related to certain participants in the Alliant Energy and Corporate Services sponsored plans.
Defined Benefit Pension PlansOPEB Plans
Three MonthsNine MonthsThree MonthsNine Months
Alliant Energy20222021202220212022202120222021
Service cost$3$2$7$8$—$1$2$3
Interest cost9927261143
Expected return on plan assets(18)(17)(52)(51)—(1)(3)(3)
Amortization of prior service credit—(1)—(1)————
Amortization of actuarial loss81024291123
$2$3$6$11$2$2$5$6
Defined Benefit Pension PlansOPEB Plans
Three MonthsNine MonthsThree MonthsNine Months
IPL20222021202220212022202120222021
Service cost$1$1$4$5$—$—$1$1
Interest cost4412121122
Expected return on plan assets(7)(8)(23)(24)(1)(1)(3)(3)
Amortization of actuarial loss351013———1
$1$2$3$6$—$—$—$1
Defined Benefit Pension PlansOPEB Plans
Three MonthsNine MonthsThree MonthsNine Months
WPL20222021202220212022202120222021
Service cost$—$1$2$3$—$1$—$1
Interest cost4312111—21
Expected return on plan assets(7)(8)(23)(23)————
Amortization of actuarial loss451214—112
$1$1$3$5$1$2$3$4

NOTE 10(b) Equity-based Compensation Plans - A summary of compensation expense, including amounts allocated to IPL and WPL, and the related income tax benefits recognized for share-based compensation awards for the three and nine months ended September 30 was as follows (in millions):
Alliant EnergyIPLWPL
Three MonthsNine Months Three MonthsNine Months Three MonthsNine Months
202220212022202120222021202220212022202120222021
Compensation expense$3$4$9$9$2$2$5$5$1$2$4$4
Income tax benefits1133——11——11

As of September 30, 2022, Alliant Energy’s, IPL’s and WPL’s total unrecognized compensation cost related to share-based compensation awards was $8 million, $5 million and $3 million, respectively, which is expected to be recognized over a weighted average period of between 1 year and 2 years.

For the nine months ended September 30, 2022, performance shares, performance restricted stock units and restricted stock units were granted to key employees under existing plans as follows. These shares and units will be paid out in shares of common stock, and are therefore accounted for as equity awards.
Weighted Average
GrantsGrant Date Fair Value
Performance shares74,106$54.45
Performance restricted stock units84,67057.01
Restricted stock units77,12256.88

As of September 30, 2022, 285,909 shares were included in the calculation of diluted EPS related to the nonvested equity awards.
WPL [Member]  
Benefit Plans BENEFIT PLANS
NOTE 10(a) Pension and OPEB Plans -
Net Periodic Benefit Costs - The components of net periodic benefit costs for sponsored defined benefit pension and OPEB plans for the three and nine months ended September 30 are included below (in millions). For IPL and WPL, amounts are for their plan participants covered under plans they sponsor, as well as amounts directly assigned to them related to certain participants in the Alliant Energy and Corporate Services sponsored plans.
Defined Benefit Pension PlansOPEB Plans
Three MonthsNine MonthsThree MonthsNine Months
Alliant Energy20222021202220212022202120222021
Service cost$3$2$7$8$—$1$2$3
Interest cost9927261143
Expected return on plan assets(18)(17)(52)(51)—(1)(3)(3)
Amortization of prior service credit—(1)—(1)————
Amortization of actuarial loss81024291123
$2$3$6$11$2$2$5$6
Defined Benefit Pension PlansOPEB Plans
Three MonthsNine MonthsThree MonthsNine Months
IPL20222021202220212022202120222021
Service cost$1$1$4$5$—$—$1$1
Interest cost4412121122
Expected return on plan assets(7)(8)(23)(24)(1)(1)(3)(3)
Amortization of actuarial loss351013———1
$1$2$3$6$—$—$—$1
Defined Benefit Pension PlansOPEB Plans
Three MonthsNine MonthsThree MonthsNine Months
WPL20222021202220212022202120222021
Service cost$—$1$2$3$—$1$—$1
Interest cost4312111—21
Expected return on plan assets(7)(8)(23)(23)————
Amortization of actuarial loss451214—112
$1$1$3$5$1$2$3$4

NOTE 10(b) Equity-based Compensation Plans - A summary of compensation expense, including amounts allocated to IPL and WPL, and the related income tax benefits recognized for share-based compensation awards for the three and nine months ended September 30 was as follows (in millions):
Alliant EnergyIPLWPL
Three MonthsNine Months Three MonthsNine Months Three MonthsNine Months
202220212022202120222021202220212022202120222021
Compensation expense$3$4$9$9$2$2$5$5$1$2$4$4
Income tax benefits1133——11——11

As of September 30, 2022, Alliant Energy’s, IPL’s and WPL’s total unrecognized compensation cost related to share-based compensation awards was $8 million, $5 million and $3 million, respectively, which is expected to be recognized over a weighted average period of between 1 year and 2 years.

For the nine months ended September 30, 2022, performance shares, performance restricted stock units and restricted stock units were granted to key employees under existing plans as follows. These shares and units will be paid out in shares of common stock, and are therefore accounted for as equity awards.
Weighted Average
GrantsGrant Date Fair Value
Performance shares74,106$54.45
Performance restricted stock units84,67057.01
Restricted stock units77,12256.88

As of September 30, 2022, 285,909 shares were included in the calculation of diluted EPS related to the nonvested equity awards.