Receivables

9 Months Ended

Sep. 30, 2018

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. In March 2018, IPL amended and extended through March 2021 the purchase commitment from the third party to which it sells its receivables. Effective April 2018, the limit on cash proceeds fluctuates between $90 million and $110 million. The transfers of receivables meet the criteria for sale accounting established by the transfer of financial assets accounting rules. As of September 30, 2018, IPL had $109.0 million of available capacity under its sales of accounts receivable program. For the three and nine months ended September 30, 2018 and 2017, IPL’s costs incurred related to the sales of accounts receivable program were not material.

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
	2018		2017		2018		2017
Maximum outstanding aggregate cash proceeds		$110.0		$112.0		$116.0		$112.0
Average outstanding aggregate cash proceeds	36.4		66.2		49.8		58.7

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

	September 30, 2018		December 31, 2017
Customer accounts receivable		$179.0		$133.8
Unbilled utility revenues	78.2		112.7
Other receivables	0.1		0.3
Receivables sold to third party	257.3		246.8
Less: cash proceeds	1.0		12.0
Deferred proceeds	256.3		234.8
Less: allowance for doubtful accounts	12.6		12.7
Fair value of deferred proceeds		$243.7		$222.1

As of September 30, 2018, outstanding receivables past due under the Receivables Agreement were $35.8 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
	2018		2017		2018		2017
Collections		$549.5		$347.9		$1,550.2		$1,283.2
Write-offs, net of recoveries	4.9		3.5		12.9		10.4

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. In March 2018, IPL amended and extended through March 2021 the purchase commitment from the third party to which it sells its receivables. Effective April 2018, the limit on cash proceeds fluctuates between $90 million and $110 million. The transfers of receivables meet the criteria for sale accounting established by the transfer of financial assets accounting rules. As of September 30, 2018, IPL had $109.0 million of available capacity under its sales of accounts receivable program. For the three and nine months ended September 30, 2018 and 2017, IPL’s costs incurred related to the sales of accounts receivable program were not material.

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
	2018		2017		2018		2017
Maximum outstanding aggregate cash proceeds		$110.0		$112.0		$116.0		$112.0
Average outstanding aggregate cash proceeds	36.4		66.2		49.8		58.7

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

	September 30, 2018		December 31, 2017
Customer accounts receivable		$179.0		$133.8
Unbilled utility revenues	78.2		112.7
Other receivables	0.1		0.3
Receivables sold to third party	257.3		246.8
Less: cash proceeds	1.0		12.0
Deferred proceeds	256.3		234.8
Less: allowance for doubtful accounts	12.6		12.7
Fair value of deferred proceeds		$243.7		$222.1

As of September 30, 2018, outstanding receivables past due under the Receivables Agreement were $35.8 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
	2018		2017		2018		2017
Collections		$549.5		$347.9		$1,550.2		$1,283.2
Write-offs, net of recoveries	4.9		3.5		12.9		10.4