10-Q

Table of Contents

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 10-Q

☒    QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended September 30, 2022

or

☐    TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from                    to                    

Name of Registrant, State of Incorporation, Address of Principal Executive Offices, Telephone Number, Commission File Number, IRS Employer Identification Number

ALLIANT ENERGY CORPORATION

(a Wisconsin Corporation)

4902 N. Biltmore Lane

Madison, Wisconsin 53718

Telephone (608) 458-3311

Commission File Number - 1-9894

IRS Employer Identification Number - 39-1380265

INTERSTATE POWER & LIGHT COMPANY

(an Iowa corporation)

Alliant Energy Tower

Cedar Rapids, Iowa 52401

Telephone (319) 786-4411

Commission File Number - 1-4117

IRS Employer Identification Number - 42-0331370

WISCONSIN POWER & LIGHT COMPANY

(a Wisconsin corporation)

4902 N. Biltmore Lane

Madison, Wisconsin 53718

Telephone (608) 458-3311

Commission File Number - 0-337

IRS Employer Identification Number - 39-0714890

This combined Form 10-Q is separately filed by Alliant Energy Corporation, Interstate Power and Light Company and Wisconsin Power and Light Company. Information contained in the Form 10-Q relating to Interstate Power and Light Company and Wisconsin Power and Light Company is filed by each such registrant on its own behalf. Each of Interstate Power and Light Company and Wisconsin Power and Light Company makes no representation as to information relating to registrants other than itself.

Securities registered pursuant to Section 12(b) of the Act:

Alliant Energy Corporation, Common Stock, $0.01 Par Value, Trading Symbol LNT, Nasdaq Global Select Market

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.

Alliant Energy Corporation - Yes ☒ No ☐

Interstate Power and Light Company - Yes ☒ No ☐

Wisconsin Power and Light Company - Yes ☒ No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).

Alliant Energy Corporation - Yes ☒ No ☐

Interstate Power and Light Company - Yes ☒ No ☐

Wisconsin Power and Light Company - Yes ☒ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Alliant Energy Corporation - Large Accelerated Filer ☒ Accelerated Filer ☐ Non-accelerated Filer ☐ Smaller Reporting Company ☐ Emerging Growth Company ☐

Interstate Power and Light Company - Large Accelerated Filer ☐ Accelerated Filer ☐ Non-accelerated Filer ☒ Smaller Reporting Company ☐ Emerging Growth Company ☐

Wisconsin Power and Light Company - Large Accelerated Filer ☐ Accelerated Filer ☐ Non-accelerated Filer ☒ Smaller Reporting Company ☐ Emerging Growth Company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

Alliant Energy Corporation ☐

Interstate Power and Light Company ☐

Wisconsin Power and Light Company ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).

Alliant Energy Corporation - Yes ☐ No ☒

Interstate Power and Light Company - Yes ☐ No ☒

Wisconsin Power and Light Company - Yes ☐ No ☒

Number of shares outstanding of each class of common stock as of September 30, 2022:

Alliant Energy Corporation, Common Stock, $0.01 par value, 251,021,830 shares outstanding

Interstate Power and Light Company, Common Stock, $2.50 par value, 13,370,788 shares outstanding (all outstanding shares are owned beneficially and of record by Alliant Energy Corporation)

Wisconsin Power and Light Company, Common Stock, $5 par value, 13,236,601 shares outstanding (all outstanding shares are owned beneficially and of record by Alliant Energy Corporation)

Table of Contents

TABLE OF CONTENTS

	Page
Definitions	1
Forward-looking Statements	1
Part I. Financial Information	3
Item 1. Condensed Consolidated Financial Statements (Unaudited)	3
Alliant Energy Corporation	3
Interstate Power and Light Company	6
Wisconsin Power and Light Company	9
Combined Notes to Condensed Consolidated Financial Statements	12
1. Summary of Significant Accounting Policies	12
2. Regulatory Matters	13
3. Property, Plant and Equipment	13
4. Receivables	13
5. Investments	14
6. Common Equity	14
7. Debt	17
8. Revenues	18
9. Income Taxes	18
10. Benefit Plans	19
11. Derivative Instruments	20
12. Fair Value Measurements	21
13. Commitments and Contingencies	24
14. Segments of Business	26
15. Related Parties	27
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations	27
Item 3. Quantitative and Qualitative Disclosures About Market Risk	36
Item 4. Controls and Procedures	36
Part II. Other Information	36
Item 1. Legal Proceedings	36
Item 1A. Risk Factors	36
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds	36
Item 5. Other Information	36
Item 6. Exhibits	37
Signatures	37

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DEFINITIONS

The following abbreviations or acronyms used in this report are defined below:

Abbreviation or Acronym	Definition	Abbreviation or Acronym	Definition
2021 Form 10-K	Combined Annual Report on Form 10-K filed by Alliant Energy, IPL and WPL for the year ended Dec. 31, 2021	IPL	Interstate Power and Light Company
AEF	Alliant Energy Finance, LLC	IUB	Iowa Utilities Board
AFUDC	Allowance for funds used during construction	MDA	Management’s Discussion and Analysis of Financial Condition and Results of Operations
Alliant Energy	Alliant Energy Corporation	MISO	Midcontinent Independent System Operator, Inc.
ATC	American Transmission Company LLC	MW	Megawatt
ATC Holdings	Interest in American Transmission Company LLC and ATC Holdco LLC	MWh	Megawatt-hour
Corporate Services	Alliant Energy Corporate Services, Inc.	N/A	Not applicable
DAEC	Duane Arnold Energy Center	Note(s)	Combined Notes to Condensed Consolidated Financial Statements
Dth	Dekatherm	OPEB	Other postretirement benefits
EGU	Electric generating unit	PPA	Purchased power agreement
EPA	U.S. Environmental Protection Agency	PSCW	Public Service Commission of Wisconsin
EPS	Earnings per weighted average common share	SEC	Securities and Exchange Commission
FERC	Federal Energy Regulatory Commission	U.S.	United States of America
Financial Statements	Condensed Consolidated Financial Statements	West Riverside	West Riverside Energy Center
FTR	Financial transmission right	Whiting Petroleum	Whiting Petroleum Corporation
GAAP	U.S. generally accepted accounting principles	WPL	Wisconsin Power and Light Company

FORWARD-LOOKING STATEMENTS

Statements contained in this report that are not of historical fact are forward-looking statements intended to qualify for the safe harbors from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified as such because the statements include words such as “may,” “believe,” “expect,” “anticipate,” “plan,” “project,” “will,” “projections,” “estimate,” or other words of similar import. Similarly, statements that describe future financial performance or plans or strategies are forward-looking statements. Such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those expressed in, or implied by, such statements. Some, but not all, of the risks and uncertainties of Alliant Energy, IPL and WPL that could materially affect actual results include:

•the direct or indirect effects resulting from terrorist incidents, including physical attacks and cyber attacks, or responses to such incidents;

•the impact of penalties or third-party claims related to, or in connection with, a failure to maintain the security of personally identifiable information, including associated costs to notify affected persons and to mitigate their information security concerns;

•the impact of customer- and third party-owned generation, including alternative electric suppliers, in IPL’s and WPL’s service territories on system reliability, operating expenses and customers’ demand for electricity;

•the impact of energy efficiency, franchise retention and customer disconnects on sales volumes and margins;

•the impact that price changes may have on IPL’s and WPL’s customers’ demand for electric, gas and steam services and their ability to pay their bills;

•inflation and higher interest rates;

•changes in the price of delivered natural gas, transmission, purchased electricity and coal, particularly during elevated market prices, and any resulting changes to counterparty credit risk, due to shifts in supply and demand caused by market conditions, regulations and MISO’s seasonal resource adequacy process;

•IPL’s and WPL’s ability to obtain adequate and timely rate relief to allow for, among other things, the recovery of and/or the return on costs, including fuel costs, operating costs, transmission costs, deferred expenditures, deferred tax assets, tax expense, capital expenditures, and remaining costs related to EGUs that may be permanently closed and certain other retired assets, decreases in sales volumes, earning their authorized rates of return, and the payments to their parent of expected levels of dividends;

•the ability to complete construction of renewable generation and storage projects by planned in-service dates and within the cost targets set by regulators due to cost increases of and access to materials, equipment and commodities including due to tariffs, duties or other assessments, such as any additional tariffs resulting from U.S. Department of Commerce investigations into the sourcing of solar project materials and equipment from certain countries, labor issues or supply shortages, the ability to successfully resolve warranty issues or contract disputes, the ability to achieve the expected level of tax benefits based on tax guidelines and project costs, and the ability to efficiently utilize the renewable generation and storage project tax benefits for the benefit of customers;

•federal and state regulatory or governmental actions, including the impact of legislation, and regulatory agency orders;

•the ability to utilize tax credits and net operating losses generated to date, and those that may be generated in the future, before they expire, as well as the ability to transfer tax credits that may be generated in the future at adequate pricing;

•the impacts of changes in the tax code, including tax rates, minimum tax rates, and adjustments made to deferred tax assets and liabilities;

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•employee workforce factors, including the ability to hire and retain employees with specialized skills, impacts from employee retirements, changes in key executives, ability to create desired corporate culture, collective bargaining agreements and negotiations, work stoppages or restructurings;

•disruptions in the supply and delivery of natural gas, purchased electricity and coal;

•changes to the creditworthiness of, or performance of obligations by, counterparties with which Alliant Energy, IPL and WPL have contractual arrangements, including participants in the energy markets and fuel suppliers and transporters;

•any material post-closing payments related to any past asset divestitures, including the sale of Whiting Petroleum, which could result from, among other things, indemnification agreements, warranties, guarantees or litigation;

•weather effects on results of utility operations;

•disruptions to ongoing operations and the supply of materials, services, equipment and commodities needed to construct solar generation, battery storage and electric and gas distribution projects, which may result from geopolitical issues, supplier manufacturing constraints, labor issues or transportation issues, as well as affect the ability to meet capacity requirements and result in increased capacity expense;

•continued access to the capital markets on competitive terms and rates, and the actions of credit rating agencies;

•the direct or indirect effects resulting from the ongoing novel coronavirus (COVID-19) pandemic and the spread of variant strains;

•issues associated with environmental remediation and environmental compliance, including compliance with all environmental and emissions permits, the Coal Combustion Residuals Rule, future changes in environmental laws and regulations, including federal, state or local regulations for carbon dioxide emissions reductions from new and existing fossil-fueled EGUs, and litigation associated with environmental requirements;

•increased pressure from customers, investors and other stakeholders to more rapidly reduce carbon dioxide emissions;

•the ability to defend against environmental claims brought by state and federal agencies, such as the EPA, state natural resources agencies or third parties, such as the Sierra Club, and the impact on operating expenses of defending and resolving such claims;

•changes to MISO’s methodology establishing capacity planning reserve margin and capacity accreditation requirements that may impact how and when new generating facilities such as IPL’s and WPL’s additional solar generation may be accredited with energy capacity and may require IPL and WPL to adjust their current resource plans, the need to add resources to comply with MISO’s methodology, or procure capacity in the market whereby such costs might not be recovered in rates;

•the direct or indirect effects resulting from breakdown or failure of equipment in the operation of electric and gas distribution systems, such as mechanical problems and explosions or fires, and compliance with electric and gas transmission and distribution safety regulations, including regulations promulgated by the Pipeline and Hazardous Materials Safety Administration;

•issues related to the availability and operations of EGUs, including start-up risks, breakdown or failure of equipment, availability of warranty coverage for equipment breakdowns or failures, performance below expected or contracted levels of output or efficiency, operator error, employee safety, transmission constraints, compliance with mandatory reliability standards and risks related to recovery of resulting incremental operating, fuel-related and capital costs through rates;

•impacts that excessive heat, excessive cold, storms or natural disasters may have on Alliant Energy’s, IPL’s and WPL’s operations and recovery of costs associated with restoration activities or on the operations of Alliant Energy’s investments;

•Alliant Energy’s ability to sustain its dividend payout ratio goal;

•changes to costs of providing benefits and related funding requirements of pension and OPEB plans due to the market value of the assets that fund the plans, economic conditions, financial market performance, interest rates, timing and form of benefits payments, life expectancies and demographics;

•material changes in employee-related benefit and compensation costs, including settlement losses related to pension plans;

•risks associated with operation and ownership of non-utility holdings;

•changes in technology that alter the channels through which customers buy or utilize Alliant Energy’s, IPL’s or WPL’s products and services;

•impacts on equity income from unconsolidated investments from changes in valuations of the assets held, as well as potential changes to ATC’s authorized return on equity;

•impacts of IPL’s future tax benefits from Iowa rate-making practices, including deductions for repairs expenditures, allocation of mixed service costs and state depreciation, and recoverability of the associated regulatory assets from customers, when the differences reverse in future periods;

•current or future litigation, regulatory investigations, proceedings or inquiries;

•reputational damage from negative publicity, protests, fines, penalties and other negative consequences resulting in regulatory and/or legal actions;

•the effect of accounting standards issued periodically by standard-setting bodies;

•the ability to successfully complete tax audits and changes in tax accounting methods with no material impact on earnings and cash flows; and

•other factors listed in MDA and Risk Factors in Item 1A in the 2021 Form 10-K.

Alliant Energy, IPL and WPL each assume no obligation, and disclaim any duty, to update the forward-looking statements in this report, except as required by law.

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PART I. FINANCIAL INFORMATION

ITEM 1. CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

ALLIANT ENERGY CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)

	For the Three Months		For the Nine Months
	Ended September 30,		Ended September 30,
	2022	2021	2022	2021
	(in millions, except per share amounts)
Revenues:
Electric utility	$1,039	$939	$2,624	$2,357
Gas utility	62	50	418	289
Other utility	11	13	35	36
Non-utility	23	22	70	60
Total revenues	1,135	1,024	3,147	2,742
Operating expenses:
Electric production fuel and purchased power	274	207	633	478
Electric transmission service	157	148	428	403
Cost of gas sold	26	18	242	149
Other operation and maintenance	172	171	492	477
Depreciation and amortization	169	165	501	494
Taxes other than income taxes	28	26	82	78
Total operating expenses	826	735	2,378	2,079
Operating income	309	289	769	663
Other (income) and deductions:
Interest expense	83	68	235	206
Equity income from unconsolidated investments, net	(5)	(13)	(37)	(47)
Allowance for funds used during construction	(10)	(7)	(34)	(16)
Other	—	3	—	7
Total other (income) and deductions	68	51	164	150
Income before income taxes	241	238	605	513
Income tax expense (benefit)	14	(21)	26	(66)
Net income	227	259	579	579
Preferred dividend requirements of Interstate Power and Light Company	—	3	—	8
Net income attributable to Alliant Energy common shareowners	$227	$256	$579	$571
Weighted average number of common shares outstanding:
Basic	251.0	250.3	250.8	250.2
Diluted	251.3	250.8	251.1	250.6
Earnings per weighted average common share attributable to Alliant Energy common shareowners (basic and diluted)	$0.90	$1.02	$2.31	$2.28

Refer to accompanying Combined Notes to Condensed Consolidated Financial Statements.

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ALLIANT ENERGY CORPORATION

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED)

	September 30, 2022	December 31, 2021
	(in millions, except per share and share amounts)
ASSETS
Current assets:
Cash and cash equivalents	$344	$39
Accounts receivable, less allowance for expected credit losses	509	440
Production fuel, at weighted average cost	49	51
Gas stored underground, at weighted average cost	124	82
Materials and supplies, at weighted average cost	126	113
Regulatory assets	177	104
Other	364	240
Total current assets	1,693	1,069
Property, plant and equipment, net	15,858	14,987
Investments:
ATC Holdings	351	338
Other	200	179
Total investments	551	517
Other assets:
Regulatory assets	1,864	1,836
Deferred charges and other	239	144
Total other assets	2,103	1,980
Total assets	$20,205	$18,553

LIABILITIES AND EQUITY
Current liabilities:
Current maturities of long-term debt	$658	$633
Commercial paper	383	515
Accounts payable	786	436
Accrued taxes	86	58
Regulatory liabilities	229	186
Other	280	226
Total current liabilities	2,422	2,054
Long-term debt, net (excluding current portion)	7,570	6,735
Other liabilities:
Deferred tax liabilities	1,919	1,927
Regulatory liabilities	1,158	1,085
Pension and other benefit obligations	349	374
Other	522	388
Total other liabilities	3,948	3,774
Commitments and contingencies (Note 13)
Equity:
Alliant Energy Corporation common equity:
Common stock - $0.01 par value - 480,000,000 shares authorized; 251,021,830 and 250,474,529 shares outstanding	3	3
Additional paid-in capital	2,767	2,749
Retained earnings	3,508	3,250
Shares in deferred compensation trust - 395,224 and 383,532 shares at a weighted average cost of $32.23 and $30.59 per share	(13)	(12)
Total Alliant Energy Corporation common equity	6,265	5,990
Total liabilities and equity	$20,205	$18,553

Refer to accompanying Combined Notes to Condensed Consolidated Financial Statements.

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ALLIANT ENERGY CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)

	For the Nine Months
	Ended September 30,
	2022	2021
	(in millions)
Cash flows from operating activities:
Net income	$579	$579
Adjustments to reconcile net income to net cash flows from operating activities:
Depreciation and amortization	501	494
Deferred tax expense (benefit) and tax credits	8	(69)
Other	(8)	7
Other changes in assets and liabilities:
Accounts receivable	(425)	(397)
Derivative assets	(184)	(202)
Regulatory assets	(102)	(21)
Accounts payable	90	—
Derivative liabilities	89	(21)
Regulatory liabilities	89	25
Deferred income taxes	(15)	160
Pension and other benefit obligations	(25)	(59)
Other	(112)	(19)
Net cash flows from operating activities	485	477
Cash flows used for investing activities:
Construction and acquisition expenditures:
Utility business	(873)	(772)
Other	(69)	(60)
Cash receipts on sold receivables	358	423
Other	(15)	(43)
Net cash flows used for investing activities	(599)	(452)
Cash flows from (used for) financing activities:
Common stock dividends	(322)	(304)
Proceeds from issuance of long-term debt	1,238	300
Payments to retire long-term debt	(379)	(4)
Net change in commercial paper	(132)	(73)
Contributions from noncontrolling interest	29	—
Distributions to noncontrolling interest	(29)	—
Other	16	24
Net cash flows from (used for) financing activities	421	(57)
Net increase (decrease) in cash, cash equivalents and restricted cash	307	(32)
Cash, cash equivalents and restricted cash at beginning of period	40	56
Cash, cash equivalents and restricted cash at end of period	$347	$24
Supplemental cash flows information:
Cash paid during the period for:
Interest	($220)	($197)
Income taxes, net	($7)	($1)
Significant non-cash investing and financing activities:
Accrued capital expenditures	$403	$91
Beneficial interest obtained in exchange for securitized accounts receivable	$248	$164

Refer to accompanying Combined Notes to Condensed Consolidated Financial Statements.

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INTERSTATE POWER AND LIGHT COMPANY

CONDENSED CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)

	For the Three Months		For the Nine Months
	Ended September 30,		Ended September 30,
	2022	2021	2022	2021
	(in millions)
Revenues:
Electric utility	$596	$555	$1,438	$1,343
Gas utility	33	31	224	165
Steam and other	11	13	34	35
Total revenues	640	599	1,696	1,543
Operating expenses:
Electric production fuel and purchased power	140	101	290	215
Electric transmission service	115	103	303	274
Cost of gas sold	14	12	126	84
Other operation and maintenance	90	95	260	253
Depreciation and amortization	95	94	285	281
Taxes other than income taxes	15	14	43	42
Total operating expenses	469	419	1,307	1,149
Operating income	171	180	389	394
Other (income) and deductions:
Interest expense	37	34	111	103
Allowance for funds used during construction	(3)	(2)	(8)	(7)
Other	(1)	—	(2)	2
Total other (income) and deductions	33	32	101	98
Income before income taxes	138	148	288	296
Income tax benefit	(16)	(12)	(39)	(34)
Net income	154	160	327	330
Preferred dividend requirements	—	3	—	8
Net income available for common stock	$154	$157	$327	$322

Earnings per share data is not disclosed given Alliant Energy Corporation is the sole shareowner of all shares of IPL’s common stock outstanding during the periods presented.

Refer to accompanying Combined Notes to Condensed Consolidated Financial Statements.

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INTERSTATE POWER AND LIGHT COMPANY

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED)

	September 30, 2022	December 31, 2021
	(in millions, except per share and share amounts)
ASSETS
Current assets:
Cash and cash equivalents	$45	$34
Accounts receivable, less allowance for expected credit losses	286	241
Income tax refunds receivable	1	8
Production fuel, at weighted average cost	31	29
Gas stored underground, at weighted average cost	66	40
Materials and supplies, at weighted average cost	77	70
Regulatory assets	108	73
Other	134	69
Total current assets	748	564
Property, plant and equipment, net	8,013	7,983
Other assets:
Regulatory assets	1,315	1,370
Deferred charges and other	132	79
Total other assets	1,447	1,449
Total assets	$10,208	$9,996

LIABILITIES AND EQUITY
Current liabilities:
Accounts payable	$232	$173
Accounts payable to associated companies	37	39
Regulatory liabilities	105	84
Accrued taxes	69	56
Accrued interest	35	36
Other	112	67
Total current liabilities	590	455
Long-term debt, net	3,645	3,643
Other liabilities:
Deferred tax liabilities	1,029	1,083
Regulatory liabilities	656	607
Pension and other benefit obligations	118	127
Other	314	312
Total other liabilities	2,117	2,129
Commitments and contingencies (Note 13)
Equity:
Interstate Power and Light Company common equity:
Common stock - $2.50 par value - 24,000,000 shares authorized; 13,370,788 shares outstanding	33	33
Additional paid-in capital	2,807	2,807
Retained earnings	1,016	929
Total Interstate Power and Light Company common equity	3,856	3,769
Total liabilities and equity	$10,208	$9,996

Refer to accompanying Combined Notes to Condensed Consolidated Financial Statements.

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INTERSTATE POWER AND LIGHT COMPANY

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)

	For the Nine Months
	Ended September 30,
	2022	2021
	(in millions)
Cash flows from operating activities:
Net income	$327	$330
Adjustments to reconcile net income to net cash flows from operating activities:
Depreciation and amortization	285	281
Deferred tax benefit and tax credits	(24)	(13)
Other	(8)	(1)
Other changes in assets and liabilities:
Accounts receivable	(397)	(412)
Derivative assets	(118)	(86)
Regulatory assets	18	(33)
Accounts payable	71	5
Derivative liabilities	62	(9)
Regulatory liabilities	61	30
Deferred income taxes	(30)	56
Pension and other benefit obligations	(9)	(25)
Other	(72)	(28)
Net cash flows from operating activities	166	95
Cash flows from investing activities:
Construction and acquisition expenditures	(269)	(285)
Cash receipts on sold receivables	358	423
Other	(5)	(16)
Net cash flows from investing activities	84	122
Cash flows used for financing activities:
Common stock dividends	(240)	(301)
Capital contributions from parent	—	50
Other	1	(3)
Net cash flows used for financing activities	(239)	(254)
Net increase (decrease) in cash, cash equivalents and restricted cash	11	(37)
Cash, cash equivalents and restricted cash at beginning of period	34	50
Cash, cash equivalents and restricted cash at end of period	$45	$13
Supplemental cash flows information:
Cash (paid) refunded during the period for:
Interest	($111)	($106)
Income taxes, net	$33	$28
Significant non-cash investing and financing activities:
Accrued capital expenditures	$43	$30
Beneficial interest obtained in exchange for securitized accounts receivable	$248	$164

Refer to accompanying Combined Notes to Condensed Consolidated Financial Statements.

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WISCONSIN POWER AND LIGHT COMPANY

CONDENSED CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)

	For the Three Months		For the Nine Months
	Ended September 30,		Ended September 30,
	2022	2021	2022	2021
	(in millions)
Revenues:
Electric utility	$443	$384	$1,186	$1,014
Gas utility	29	19	194	124
Other	—	—	1	1
Total revenues	472	403	1,381	1,139
Operating expenses:
Electric production fuel and purchased power	134	105	343	263
Electric transmission service	42	44	125	128
Cost of gas sold	13	6	117	65
Other operation and maintenance	70	66	193	194
Depreciation and amortization	71	70	211	209
Taxes other than income taxes	11	12	35	35
Total operating expenses	341	303	1,024	894
Operating income	131	100	357	245
Other (income) and deductions:
Interest expense	31	25	86	77
Allowance for funds used during construction	(7)	(5)	(26)	(9)
Other	—	2	—	3
Total other (income) and deductions	24	22	60	71
Income before income taxes	107	78	297	174
Income tax expense (benefit)	16	(15)	50	(41)
Net income	$91	$93	$247	$215

Earnings per share data is not disclosed given Alliant Energy Corporation is the sole shareowner of all shares of WPL’s common stock outstanding during the periods presented.

Refer to accompanying Combined Notes to Condensed Consolidated Financial Statements.

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WISCONSIN POWER AND LIGHT COMPANY

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED)

	September 30, 2022	December 31, 2021
	(in millions, except per share and share amounts)
ASSETS
Current assets:
Cash and cash equivalents	$299	$2
Accounts receivable, less allowance for expected credit losses	211	188
Production fuel, at weighted average cost	18	23
Gas stored underground, at weighted average cost	58	42
Materials and supplies, at weighted average cost	47	41
Regulatory assets	69	31
Prepaid gross receipts tax	31	40
Other	130	86
Total current assets	863	453
Property, plant and equipment, net	7,371	6,538
Other assets:
Regulatory assets	549	466
Deferred charges and other	115	61
Total other assets	664	527
Total assets	$8,898	$7,518

LIABILITIES AND EQUITY
Current liabilities:
Current maturities of long-term debt	$250	$250
Commercial paper	—	236
Accounts payable	470	190
Accounts payable to associated companies	51	39
Regulatory liabilities	124	102
Other	93	73
Total current liabilities	988	890
Long-term debt, net (excluding current portion)	2,769	2,179
Other liabilities:
Deferred tax liabilities	783	753
Regulatory liabilities	502	478
Pension and other benefit obligations	148	159
Other	352	236
Total other liabilities	1,785	1,626
Commitments and contingencies (Note 13)
Equity:
Wisconsin Power and Light Company common equity:
Common stock - $5 par value - 18,000,000 shares authorized; 13,236,601 shares outstanding	66	66
Additional paid-in capital	2,123	1,704
Retained earnings	1,167	1,053
Total Wisconsin Power and Light Company common equity	3,356	2,823
Total liabilities and equity	$8,898	$7,518

Refer to accompanying Combined Notes to Condensed Consolidated Financial Statements.

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WISCONSIN POWER AND LIGHT COMPANY

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)

	For the Nine Months
	Ended September 30,
	2022	2021
	(in millions)
Cash flows from operating activities:
Net income	$247	$215
Adjustments to reconcile net income to net cash flows from operating activities:
Depreciation and amortization	211	209
Deferred tax expense (benefit) and tax credits	11	(63)
Other	(7)	12
Other changes in assets and liabilities:
Derivative assets	(66)	(116)
Regulatory assets	(120)	11
Deferred income taxes	20	108
Other	(17)	(27)
Net cash flows from operating activities	279	349
Cash flows used for investing activities:
Construction and acquisition expenditures	(604)	(487)
Other	(8)	(23)
Net cash flows used for investing activities	(612)	(510)
Cash flows from financing activities:
Common stock dividends	(133)	(126)
Capital contributions from parent	420	245
Proceeds from issuance of long-term debt	588	300
Net change in commercial paper	(236)	(254)
Contributions from noncontrolling interest	29	—
Distributions to noncontrolling interest	(29)	—
Other	(9)	(3)
Net cash flows from financing activities	630	162
Net increase in cash, cash equivalents and restricted cash	297	1
Cash, cash equivalents and restricted cash at beginning of period	2	3
Cash, cash equivalents and restricted cash at end of period	$299	$4
Supplemental cash flows information:
Cash paid during the period for:
Interest	($78)	($72)
Income taxes, net	($51)	($24)
Significant non-cash investing and financing activities:
Accrued capital expenditures	$355	$59

Refer to accompanying Combined Notes to Condensed Consolidated Financial Statements.

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ALLIANT ENERGY CORPORATION

INTERSTATE POWER AND LIGHT COMPANY

WISCONSIN POWER AND LIGHT COMPANY

COMBINED NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

NOTE 1(a) General - The interim unaudited Financial Statements included herein have been prepared pursuant to the rules and regulations of the SEC. Accordingly, certain information and note disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted, although management believes that the disclosures are adequate to make the information presented not misleading. These Financial Statements should be read in conjunction with the financial statements and the notes thereto included in the 2021 Form 10-K.

In the opinion of management, all adjustments, which unless otherwise noted are normal and recurring in nature, necessary for a fair presentation of the results of operations, financial position and cash flows have been made. Results for the nine months ended September 30, 2022 are not necessarily indicative of results that may be expected for the year ending December 31, 2022.

A change in management’s estimates or assumptions could have a material impact on financial condition and results of operations during the period in which such change occurred. Certain prior period amounts in the Financial Statements and Notes have been reclassified to conform to the current period presentation for comparative purposes.

NOTE 1(b) Cash and Cash Equivalents - At September 30, 2022, Alliant Energy’s, IPL’s and WPL’s cash and cash equivalents included $334 million, $39 million and $295 million of money market fund investments, respectively, with weighted average interest rates of 3%.

NOTE 1(c) Variable Interest Entities (VIEs) - In 2022, WPL 2022 Solar Holdco, LLC was formed as a joint venture to own and operate project companies responsible for the construction, ownership and operation of various solar generation assets. Members of the joint venture were a WPL subsidiary (the managing member) and a tax equity partner. In the second quarter of 2022, the WPL subsidiary and the tax equity partner contributed $62 million and $29 million, respectively, to WPL 2022 Solar Holdco, LLC in exchange for membership interests, and $88 million of the contributed funds were paid to WPL in exchange for equity interests in the project companies. In the second quarter of 2022, Alliant Energy and WPL consolidated this joint venture as it was a VIE in which WPL held a variable interest, and WPL controlled decisions that were significant to the joint venture’s ongoing operations and economic results (i.e., WPL was the primary beneficiary).

In August 2022, the Inflation Reduction Act of 2022 was enacted. Following its enactment, WPL evaluated the provisions of the new legislation and determined that retaining full ownership of the solar projects is expected to result in lower costs for its customers. As a result, in the third quarter of 2022, WPL and the tax equity partner terminated the tax equity partnership, and WPL returned the $29 million of initial funding to the tax equity partner. Alliant Energy and WPL no longer expect their solar generation project construction costs to be financed with capital from tax equity partners, which would result in higher rate base amounts compared to those previously approved by the PSCW for WPL’s planned approximately 1,100 MW of solar generation. Alliant Energy and WPL concluded that no disallowance of anticipated higher rate base amounts was required as of September 30, 2022 given full ownership of WPL's planned solar generation is expected to result in lower costs for WPL's customers.

Refer to Note 6 for discussion of a noncontrolling interest that was initially associated with the joint venture prior to the termination of the tax equity partnership.

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NOTE 2. REGULATORY MATTERS

Regulatory Assets and Regulatory Liabilities -

Regulatory assets were comprised of the following items (in millions):

	Alliant Energy		IPL		WPL
	September 30, 2022	December 31, 2021	September 30, 2022	December 31, 2021	September 30, 2022	December 31, 2021
Tax-related	$913	$934	$842	$884	$71	$50
Pension and OPEB costs	436	462	216	228	220	234
Asset retirement obligations	145	128	104	89	41	39
Commodity cost recovery	129	42	2	2	127	40
Derivatives	102	8	67	4	35	4
Assets retired early	75	92	56	66	19	26
IPL’s DAEC PPA amendment	72	90	72	90	—	—
WPL’s Western Wisconsin gas distribution expansion investments	49	52	—	—	49	52
Other	120	132	64	80	56	52
	$2,041	$1,940	$1,423	$1,443	$618	$497

Tax-related - Refer to Note 9 for discussion of Iowa Tax Reform, which resulted in a decrease in Alliant Energy’s and IPL’s tax-related regulatory assets in the third quarter of 2022.

Commodity cost recovery - The cost recovery mechanism for WPL’s retail electric customers is based on forecasts of certain fuel-related costs expected to be incurred during forward-looking test periods and fuel monitoring ranges determined by the PSCW during each retail electric rate proceeding or in a separate fuel cost plan approval proceeding. During the nine months ended September 30, 2022, WPL’s actual fuel-related costs fell outside these fuel monitoring ranges, resulting in a $83 million deferral of higher than expected fuel-related costs as of September 30, 2022.

Derivatives - Refer to Note 11 for discussion of changes in Alliant Energy’s, IPL’s and WPL’s derivative liabilities/assets during the nine months ended September 30, 2022, which result in comparable changes to regulatory assets/liabilities on the balance sheets.

Regulatory liabilities were comprised of the following items (in millions):

	Alliant Energy		IPL		WPL
	September 30, 2022	December 31, 2021	September 30, 2022	December 31, 2021	September 30, 2022	December 31, 2021
Tax-related	$582	$585	$304	$312	$278	$273
Cost of removal obligations	398	384	258	252	140	132
Derivatives	312	166	164	77	148	89
WPL’s West Riverside liquidated damages	33	36	—	—	33	36
Electric transmission cost recovery	16	51	4	27	12	24
Other	46	49	31	23	15	26
	$1,387	$1,271	$761	$691	$626	$580

NOTE 3. PROPERTY, PLANT AND EQUIPMENT

In June 2022, WPL announced revised expected timing for the retirements of its remaining coal-fired EGUs in order to help manage regional capacity and changing generation requirements across the MISO region. WPL currently expects to retire the Edgewater Generating Station (414 MW) by June 1, 2025, and Columbia Units 1 and 2 by June 1, 2026 (595 MW in aggregate). In addition, IPL currently expects to retire the coal-fired Lansing Generating Station (275 MW) in the first half of 2023. Alliant Energy, IPL and WPL are working with MISO, state regulatory commissions and other regulatory agencies, as required, to determine the timing of these actions, which are subject to change depending on operational, regulatory, market and other factors.

NOTE 4. 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. As of September 30, 2022, IPL had $109 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):

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	Three Months		Nine Months
	2022	2021	2022	2021
Maximum outstanding aggregate cash proceeds	$36	$110	$66	$110
Average outstanding aggregate cash proceeds	3	65	8	52

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

	September 30, 2022	December 31, 2021
Customer accounts receivable	$169	$125
Unbilled utility revenues	92	104
Receivables sold to third party	261	229
Less: cash proceeds	1	1
Deferred proceeds	260	228
Less: allowance for expected credit losses	12	14
Fair value of deferred proceeds	$248	$214

As of September 30, 2022, outstanding receivables past due under the Receivables Agreement were $20 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
	2022	2021	2022	2021
Collections	$670	$607	$1,731	$1,589
Write-offs, net of recoveries	3	4	6	7

NOTE 5. INVESTMENTS

Unconsolidated Equity Investments - Alliant Energy’s equity (income) loss from unconsolidated investments accounted for under the equity method of accounting for the three and nine months ended September 30 was as follows (in millions):

	Three Months		Nine Months
	2022	2021	2022	2021
ATC Holdings	($7)	($12)	($29)	($34)
Other	2	(1)	(8)	(13)
	($5)	($13)	($37)	($47)

Refer to Note 13(e) for discussion of a reduction in earnings recorded in the third quarter of 2022 related to a court decision, which is currently expected to reduce the base return on equity authorized for MISO transmission owners, including ATC.

NOTE 6. COMMON EQUITY

Common Share Activity - A summary of Alliant Energy’s common stock activity was as follows:

Shares outstanding, January 1, 2022	250,474,529
Shareowner Direct Plan	324,533
Equity-based compensation plans	222,768
Shares outstanding, September 30, 2022	251,021,830

Noncontrolling Interest - In the second quarter of 2022, WPL and the tax equity partner contributed to a joint venture associated with certain WPL solar generation projects. The tax equity partner's contributions were represented as a noncontrolling interest within total equity on Alliant Energy’s and WPL’s balance sheets as of June 30, 2022. In the third quarter of 2022, WPL and the tax equity partner terminated the tax equity partnership and WPL returned the tax equity partner’s initial contributions, resulting in the reversal of the noncontrolling interest within total equity on Alliant Energy’s and WPL’s balance sheets as of September 30, 2022. Refer to Note 1(c) for additional information.

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Changes in Shareowners’ Equity - A summary of changes in shareowners’ equity was as follows (in millions):

Alliant Energy	Total Alliant Energy Common Equity
				Accumulated	Shares in
		Additional		Other	Deferred
	Common	Paid-In	Retained	Comprehensive	Compensation	Noncontrolling	Total
	Stock	Capital	Earnings	Loss	Trust	Interest	Equity
Three Months Ended September 30, 2022
Beginning balance, June 30, 2022	$3	$2,759	$3,387	$—	($12)	$29	$6,166
Net income attributable to Alliant Energy common shareowners			227				227
Common stock dividends ($0.4275 per share)			(106)				(106)
Shareowner Direct Plan issuances		6					6
Equity-based compensation plans and other		2			(1)		1
Distributions to noncontrolling interest						(29)	(29)
Ending balance, September 30, 2022	$3	$2,767	$3,508	$—	($13)	$—	$6,265

Alliant Energy	Total Alliant Energy Common Equity
				Accumulated	Shares in	Cumulative
		Additional		Other	Deferred	Preferred
	Common	Paid-In	Retained	Comprehensive	Compensation	Stock	Total
	Stock	Capital	Earnings	Loss	Trust	of IPL	Equity
Three Months Ended September 30, 2021
Beginning balance, June 30, 2021	$3	$2,722	$3,106	($1)	($11)	$200	$6,019
Net income attributable to Alliant Energy common shareowners			256				256
Common stock dividends ($0.4025 per share)			(101)				(101)
Shareowner Direct Plan issuances		6					6
Equity-based compensation plans and other		5					5
Ending balance, September 30, 2021	$3	$2,733	$3,261	($1)	($11)	$200	$6,185

Alliant Energy	Total Alliant Energy Common Equity
				Accumulated	Shares in
		Additional		Other	Deferred
	Common	Paid-In	Retained	Comprehensive	Compensation	Noncontrolling	Total
	Stock	Capital	Earnings	Loss	Trust	Interest	Equity
Nine Months Ended September 30, 2022
Beginning balance, December 31, 2021	$3	$2,749	$3,250	$—	($12)	$—	$5,990
Net income attributable to Alliant Energy common shareowners			579				579
Common stock dividends ($1.2825 per share)			(322)				(322)
Shareowner Direct Plan issuances		19					19
Equity-based compensation plans and other		(1)	1		(1)		(1)
Contributions from noncontrolling interest						29	29
Distributions to noncontrolling interest						(29)	(29)
Ending balance, September 30, 2022	$3	$2,767	$3,508	$—	($13)	$—	$6,265

Alliant Energy	Total Alliant Energy Common Equity
				Accumulated	Shares in	Cumulative
		Additional		Other	Deferred	Preferred
	Common	Paid-In	Retained	Comprehensive	Compensation	Stock	Total
	Stock	Capital	Earnings	Loss	Trust	of IPL	Equity
Nine Months Ended September 30, 2021
Beginning balance, December 31, 2020	$2	$2,704	$2,994	($1)	($11)	$200	$5,888
Net income attributable to Alliant Energy common shareowners			571				571
Common stock dividends ($1.2075 per share)			(304)				(304)
Shareowner Direct Plan issuances	1	21					22
Equity-based compensation plans and other		8					8
Ending balance, September 30, 2021	$3	$2,733	$3,261	($1)	($11)	$200	$6,185

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IPL	Total IPL Common Equity
		Additional		Cumulative
	Common	Paid-In	Retained	Preferred	Total
	Stock	Capital	Earnings	Stock	Equity
Three Months Ended September 30, 2022
Beginning balance, June 30, 2022	$33	$2,807	$942	$—	$3,782
Net income available for common stock			154		154
Common stock dividends			(80)		(80)
Ending balance, September 30, 2022	$33	$2,807	$1,016	$—	$3,856
Three Months Ended September 30, 2021
Beginning balance, June 30, 2021	$33	$2,802	$944	$200	$3,979
Net income available for common stock			157		157
Common stock dividends			(101)		(101)
Ending balance, September 30, 2021	$33	$2,802	$1,000	$200	$4,035

IPL	Total IPL Common Equity
		Additional		Cumulative
	Common	Paid-In	Retained	Preferred	Total
	Stock	Capital	Earnings	Stock	Equity
Nine Months Ended September 30, 2022
Beginning balance, December 31, 2021	$33	$2,807	$929	$—	$3,769
Net income available for common stock			327		327
Common stock dividends			(240)		(240)
Ending balance, September 30, 2022	$33	$2,807	$1,016	$—	$3,856
Nine Months Ended September 30, 2021
Beginning balance, December 31, 2020	$33	$2,752	$979	$200	$3,964
Net income available for common stock			322		322
Common stock dividends			(301)		(301)
Capital contributions from parent		50			50
Ending balance, September 30, 2021	$33	$2,802	$1,000	$200	$4,035

WPL	Total WPL Common Equity
		Additional
	Common	Paid-In	Retained	Noncontrolling	Total
	Stock	Capital	Earnings	Interest	Equity
Three Months Ended September 30, 2022
Beginning balance, June 30, 2022	$66	$1,968	$1,120	$29	$3,183
Net income			91		91
Common stock dividends			(44)		(44)
Capital contributions from parent		155			155
Distributions to noncontrolling interest				(29)	(29)
Ending balance, September 30, 2022	$66	$2,123	$1,167	$—	$3,356
Three Months Ended September 30, 2021
Beginning balance, June 30, 2021	$66	$1,669	$990	$—	$2,725
Net income			93		93
Common stock dividends			(41)		(41)
Capital contributions from parent		35			35
Ending balance, September 30, 2021	$66	$1,704	$1,042	$—	$2,812

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WPL	Total WPL Common Equity
		Additional
	Common	Paid-In	Retained	Noncontrolling	Total
	Stock	Capital	Earnings	Interest	Equity
Nine Months Ended September 30, 2022
Beginning balance, December 31, 2021	$66	$1,704	$1,053	$—	$2,823
Net income			247		247
Common stock dividends			(133)		(133)
Capital contributions from parent		420			420
Contributions from noncontrolling interest				29	29
Distributions to noncontrolling interest				(29)	(29)
Other		(1)			(1)
Ending balance, September 30, 2022	$66	$2,123	$1,167	$—	$3,356
Nine Months Ended September 30, 2021
Beginning balance, December 31, 2020	$66	$1,459	$953	$—	$2,478
Net income			215		215
Common stock dividends			(126)		(126)
Capital contributions from parent		245			245
Ending balance, September 30, 2021	$66	$1,704	$1,042	$—	$2,812

NOTE 7. DEBT

NOTE 7(a) Short-term Debt - Information regarding Alliant Energy’s, IPL’s and WPL’s commercial paper classified as short-term debt was as follows (dollars in millions):

September 30, 2022	Alliant Energy	IPL	WPL
Amount outstanding	$383	$—	$—
Weighted average interest rates	3.4%	N/A	N/A
Available credit facility capacity	$617	$250	$300

	Alliant Energy		IPL		WPL
Three Months Ended September 30	2022	2021	2022	2021	2022	2021
Maximum amount outstanding (based on daily outstanding balances)	$449	$648	$—	$8	$251	$320
Average amount outstanding (based on daily outstanding balances)	$353	$560	$—	$—	$110	$221
Weighted average interest rates	2.4%	0.2%	—%	0.2%	2.0%	0.1%
Nine Months Ended September 30
Maximum amount outstanding (based on daily outstanding balances)	$577	$648	$—	$19	$252	$320
Average amount outstanding (based on daily outstanding balances)	$377	$479	$—	$—	$160	$196
Weighted average interest rates	1.2%	0.2%	—%	0.2%	0.9%	0.1%

In October 2022, Alliant Energy, IPL and WPL reallocated credit facility capacity amounts to $500 million for Alliant Energy at the parent company level, $200 million for IPL and $300 million for WPL, within the $1 billion total commitment.

NOTE 7(b) Long-term Debt - In February 2022, AEF issued $350 million of 3.6% senior notes due 2032. The net proceeds from the issuance were used to reduce Alliant Energy’s outstanding commercial paper and for general corporate purposes. In March 2022, AEF entered into a $300 million variable rate (3% as of September 30, 2022) term loan credit agreement (with Alliant Energy as guarantor), which expires in March 2024, and used the borrowings under this agreement to retire its $300 million variable rate term loan credit agreement that expired in March 2022.

In August 2022, WPL issued $600 million of 3.95% debentures due 2032. The debentures were issued as green bonds, and an amount equal to or in excess of the net proceeds will be disbursed for the development and acquisition of WPL’s solar EGUs.

In September 2022, Corporate Services retired its $75 million, 3.45% senior notes due 2022.

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NOTE 8. REVENUES

Disaggregation of revenues from contracts with customers, which correlates to revenues for each reportable segment, was as follows (in millions):

	Alliant Energy		IPL		WPL
Three Months Ended September 30	2022	2021	2022	2021	2022	2021
Electric Utility:
Retail - residential	$376	$348	$222	$207	$154	$141
Retail - commercial	243	232	165	160	78	72
Retail - industrial	289	265	172	158	117	107
Wholesale	68	55	19	18	49	37
Bulk power and other	63	39	18	12	45	27
Total Electric Utility	1,039	939	596	555	443	384
Gas Utility:
Retail - residential	28	24	14	14	14	10
Retail - commercial	18	13	8	8	10	5
Retail - industrial	4	3	3	3	1	—
Transportation/other	12	10	8	6	4	4
Total Gas Utility	62	50	33	31	29	19
Other Utility:
Steam	9	9	9	9	—	—
Other utility	2	4	2	4	—	—
Total Other Utility	11	13	11	13	—	—
Non-Utility and Other:
Travero and other	23	22	—	—	—	—
Total Non-Utility and Other	23	22	—	—	—	—
Total revenues	$1,135	$1,024	$640	$599	$472	$403

	Alliant Energy		IPL		WPL
Nine Months Ended September 30	2022	2021	2022	2021	2022	2021
Electric Utility:
Retail - residential	$956	$868	$529	$488	$427	$380
Retail - commercial	628	579	411	385	217	194
Retail - industrial	743	677	418	386	325	291
Wholesale	168	142	49	44	119	98
Bulk power and other	129	91	31	40	98	51
Total Electric Utility	2,624	2,357	1,438	1,343	1,186	1,014
Gas Utility:
Retail - residential	237	162	127	90	110	72
Retail - commercial	127	85	62	47	65	38
Retail - industrial	15	11	10	8	5	3
Transportation/other	39	31	25	20	14	11
Total Gas Utility	418	289	224	165	194	124
Other Utility:
Steam	29	27	29	27	—	—
Other utility	6	9	5	8	1	1
Total Other Utility	35	36	34	35	1	1
Non-Utility and Other:
Travero and other	70	60	—	—	—	—
Total Non-Utility and Other	70	60	—	—	—	—
Total revenues	$3,147	$2,742	$1,696	$1,543	$1,381	$1,139

NOTE 9. INCOME TAXES

Income Tax Rates - Overall effective income tax rates, which were computed by dividing income tax expense (benefit) by income before income taxes, were as follows. The effective income tax rates were different than the federal statutory rate primarily due to state income taxes, production tax credits, amortization of excess deferred taxes and the effect of rate-making on property-related differences. The increases in Alliant Energy’s and WPL’s overall effective income tax rates for the three

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and nine months ended September 30, 2022 compared to the same periods in 2021 were primarily due to decreased amortization of excess deferred taxes primarily at WPL.

	Alliant Energy				IPL				WPL
	Three Months		Nine Months		Three Months		Nine Months		Three Months		Nine Months
	2022	2021	2022	2021	2022	2021	2022	2021	2022	2021	2022	2021
Overall income tax rate	6%	(9%)	4%	(13%)	(12%)	(8%)	(14%)	(11%)	15%	(19%)	17%	(24%)

Deferred Tax Assets and Liabilities -

Carryforwards - In the third quarter of 2022, Alliant Energy, IPL and WPL fully utilized their respective federal net operating losses carryforwards. At September 30, 2022, the remaining carryforwards and expiration dates were estimated as follows (in millions):

	Range of Expiration Dates	Alliant Energy	IPL	WPL
State net operating losses	2022-2042	$500	$9	$2
Federal tax credits	2022-2042	655	437	208

Iowa Tax Reform - In March 2022, Iowa tax reform was enacted. Annually, and by each November 1, the Iowa Department of Revenue will establish corporate income tax rates for the next tax year based on net corporate income tax receipts for the prior tax year, and reduce such rates if certain state income tax revenue triggers are satisfied. These corporate income tax rate reductions are currently expected to occur over a period of several years, with a target corporate income tax rate of 5.5%, compared to the current 9.8% Iowa corporate income tax rate. In September 2022, the Iowa Department of Revenue announced an Iowa corporate income tax rate of 8.4%, effective January 1, 2023. Deferred tax assets and liabilities are measured at the enacted tax rate expected to be applied when temporary differences are to be realized or settled. Given the announcement of the new Iowa corporate income tax rate, Alliant Energy’s and IPL’s deferred tax liabilities were remeasured based upon the new rate effective January 1, 2023, which resulted in a $76 million reduction of Alliant Energy’s and IPL’s tax-related regulatory assets and a decrease in their deferred tax liabilities in the third quarter of 2022. The reduction in tax-related regulatory assets is expected to provide cost benefits to IPL’s customers in the future. Alliant Energy parent company’s deferred tax assets were remeasured based upon the new rate effective January 1, 2023, which resulted in a charge of $8 million recorded to income tax expense in Alliant Energy’s income statement and a decrease in deferred income tax assets on Alliant Energy’s balance sheet in the third quarter of 2022. Alliant Energy is currently unable to predict with certainty the timing or amount of any future rate reductions.

NOTE 10. 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 Plans				OPEB Plans
	Three Months		Nine Months		Three Months		Nine Months
Alliant Energy	2022	2021	2022	2021	2022	2021	2022	2021
Service cost	$3	$2	$7	$8	$—	$1	$2	$3
Interest cost	9	9	27	26	1	1	4	3
Expected return on plan assets	(18)	(17)	(52)	(51)	—	(1)	(3)	(3)
Amortization of prior service credit	—	(1)	—	(1)	—	—	—	—
Amortization of actuarial loss	8	10	24	29	1	1	2	3
	$2	$3	$6	$11	$2	$2	$5	$6

	Defined Benefit Pension Plans				OPEB Plans
	Three Months		Nine Months		Three Months		Nine Months
IPL	2022	2021	2022	2021	2022	2021	2022	2021
Service cost	$1	$1	$4	$5	$—	$—	$1	$1
Interest cost	4	4	12	12	1	1	2	2
Expected return on plan assets	(7)	(8)	(23)	(24)	(1)	(1)	(3)	(3)
Amortization of actuarial loss	3	5	10	13	—	—	—	1
	$1	$2	$3	$6	$—	$—	$—	$1

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	Defined Benefit Pension Plans				OPEB Plans
	Three Months		Nine Months		Three Months		Nine Months
WPL	2022	2021	2022	2021	2022	2021	2022	2021
Service cost	$—	$1	$2	$3	$—	$1	$—	$1
Interest cost	4	3	12	11	1	—	2	1
Expected return on plan assets	(7)	(8)	(23)	(23)	—	—	—	—
Amortization of actuarial loss	4	5	12	14	—	1	1	2
	$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 Energy				IPL				WPL
	Three Months		Nine Months		Three Months		Nine Months		Three Months		Nine Months
	2022	2021	2022	2021	2022	2021	2022	2021	2022	2021	2022	2021
Compensation expense	$3	$4	$9	$9	$2	$2	$5	$5	$1	$2	$4	$4
Income tax benefits	1	1	3	3	—	—	1	1	—	—	1	1

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
	Grants	Grant Date Fair Value
Performance shares	74,106	$54.45
Performance restricted stock units	84,670	57.01
Restricted stock units	77,122	56.88

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

NOTE 11. DERIVATIVE INSTRUMENTS

Commodity Derivatives -

Notional Amounts - As of September 30, 2022, gross notional amounts and settlement/delivery years related to outstanding swap contracts, option contracts, physical forward contracts and FTRs that were accounted for as commodity derivative instruments were as follows (units in thousands):

	Electricity		FTRs		Natural Gas		Coal		Diesel Fuel
	MWhs	Years	MWhs	Years	Dths	Years	Tons	Years	Gallons	Years
Alliant Energy	1,379	2022-2024	14,454	2022-2023	249,508	2022-2032	1,566	2022-2023	756	2022
IPL	768	2022-2024	6,165	2022-2023	135,193	2022-2030	669	2022-2023	—	—
WPL	611	2022-2023	8,289	2022-2023	114,315	2022-2032	897	2022-2023	756	2022

Financial Statement Presentation - Derivative instruments are recorded at fair value each reporting date on the balance sheets as assets or liabilities as follows (in millions):

	Alliant Energy		IPL		WPL
	September 30, 2022	December 31, 2021	September 30, 2022	December 31, 2021	September 30, 2022	December 31, 2021
Current derivative assets	$200	$113	$117	$48	$83	$65
Non-current derivative assets	160	63	85	36	75	27
Current derivative liabilities	71	8	54	4	17	4
Non-current derivative liabilities	27	1	12	—	15	1

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During the nine months ended September 30, 2022, Alliant Energy’s, IPL’s and WPL’s derivative assets increased primarily due to the annual FTR auction operated by MISO and as a result of higher natural gas prices. Alliant Energy’s, IPL’s and WPL’s derivative liabilities increased primarily due to new natural gas contracts entered into in the second quarter of 2022. Based on IPL’s and WPL’s cost recovery mechanisms, the changes in the fair value of derivative liabilities/assets resulted in comparable changes to regulatory assets/liabilities on the balance sheets.

Credit Risk-related Contingent Features - Various agreements contain credit risk-related contingent features, including requirements to maintain certain credit ratings and/or limitations on liability positions under the agreements based on credit ratings. Certain of these agreements with credit risk-related contingency features are accounted for as derivative instruments. In the event of a material change in creditworthiness or if liability positions exceed certain contractual limits, credit support may need to be provided up to the amount of exposure under the contracts, or the contracts may need to be unwound and underlying liability positions paid. At September 30, 2022 and December 31, 2021, the aggregate fair value of all derivative instruments with credit risk-related contingent features in a net liability position was not materially different than amounts that would be required to be posted as credit support to counterparties by Alliant Energy, IPL or WPL if the most restrictive credit risk-related contingent features for derivative agreements in a net liability position were triggered.

Balance Sheet Offsetting - The fair value amounts of derivative instruments subject to a master netting arrangement are not netted by counterparty on the balance sheets. However, if the fair value amounts of derivative instruments by counterparty were netted, derivative assets and derivative liabilities related to commodity contracts would have been presented on the balance sheets as follows (in millions):

	Alliant Energy		IPL		WPL
	Gross		Gross		Gross
	(as reported)	Net	(as reported)	Net	(as reported)	Net
September 30, 2022
Derivative assets	$360	$308	$202	$165	$158	$143
Derivative liabilities	98	46	66	29	32	17
December 31, 2021
Derivative assets	176	171	84	83	92	88
Derivative liabilities	9	4	4	3	5	1

Fair value amounts recognized for the right to reclaim cash collateral (receivable) or the obligation to return cash collateral (payable) are not offset against fair value amounts recognized for derivative instruments executed with the same counterparty under the same master netting arrangement.

NOTE 12. FAIR VALUE MEASUREMENTS

Fair Value of Financial Instruments - The carrying amounts of current assets and current liabilities approximate fair value because of the short maturity of such financial instruments. Carrying amounts and related estimated fair values of other financial instruments were as follows (in millions):

Alliant Energy	September 30, 2022					December 31, 2021
		Fair Value					Fair Value
	Carrying	Level	Level	Level		Carrying	Level	Level	Level
	Amount	1	2	3	Total	Amount	1	2	3	Total
Assets:
Money market fund investments	$334	$334	$—	$—	$334	$32	$32	$—	$—	$32
Derivatives	360	—	295	65	360	176	—	146	30	176
Deferred proceeds	248	—	—	248	248	214	—	—	214	214
Liabilities:
Derivatives	98	—	78	20	98	9	—	8	1	9
Long-term debt (incl. current maturities)	8,228	—	7,473	1	7,474	7,368	—	8,329	1	8,330

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IPL	September 30, 2022					December 31, 2021
		Fair Value					Fair Value
	Carrying	Level	Level	Level		Carrying	Level	Level	Level
	Amount	1	2	3	Total	Amount	1	2	3	Total
Assets:
Money market fund investments	$39	$39	$—	$—	$39	$32	$32	$—	$—	$32
Derivatives	202	—	150	52	202	84	—	65	19	84
Deferred proceeds	248	—	—	248	248	214	—	—	214	214
Liabilities:
Derivatives	66	—	47	19	66	4	—	3	1	4
Long-term debt	3,645	—	3,228	—	3,228	3,643	—	4,124	—	4,124

WPL	September 30, 2022					December 31, 2021
		Fair Value					Fair Value
	Carrying	Level	Level	Level		Carrying	Level	Level	Level
	Amount	1	2	3	Total	Amount	1	2	3	Total
Assets:
Money market fund investments	$295	$295	$—	$—	$295	$—	$—	$—	$—	$—
Derivatives	158	—	145	13	158	92	—	81	11	92
Liabilities:
Derivatives	32	—	31	1	32	5	—	5	—	5
Long-term debt (incl. current maturities)	3,019	—	2,778	—	2,778	2,429	—	2,862	—	2,862

Information for fair value measurements using significant unobservable inputs (Level 3 inputs) was as follows (in millions):

Alliant Energy	Commodity Contract Derivative
	Assets and (Liabilities), net		Deferred Proceeds
Three Months Ended September 30	2022	2021	2022	2021
Beginning balance, July 1	$72	$39	$244	$154
Total net gains (losses) included in changes in net assets (realized/unrealized)	(1)	5	—	—
Transfers out of Level 3	—	(8)	—	—
Settlements (a)	(26)	(7)	4	10
Ending balance, September 30	$45	$29	$248	$164
The amount of total net gains (losses) for the period included in changes in net assets attributable to the change in unrealized gains (losses) relating to assets and liabilities held at September 30	($1)	$5	$—	$—

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Alliant Energy	Commodity Contract Derivative
	Assets and (Liabilities), net		Deferred Proceeds
Nine Months Ended September 30	2022	2021	2022	2021
Beginning balance, January 1	$29	$29	$214	$188
Total net gains (losses) included in changes in net assets (realized/unrealized)	(17)	6	—	—
Transfers out of Level 3	—	(8)	—	—
Purchases	79	21	—	—
Settlements (a)	(46)	(19)	34	(24)
Ending balance, September 30	$45	$29	$248	$164
The amount of total net gains (losses) for the period included in changes in net assets attributable to the change in unrealized gains (losses) relating to assets and liabilities held at September 30	($17)	$6	$—	$—

IPL	Commodity Contract Derivative
	Assets and (Liabilities), net		Deferred Proceeds
Three Months Ended September 30	2022	2021	2022	2021
Beginning balance, July 1	$58	$30	$244	$154
Total net gains (losses) included in changes in net assets (realized/unrealized)	(6)	2	—	—
Transfers out of Level 3	—	(8)	—	—
Settlements (a)	(19)	(5)	4	10
Ending balance, September 30	$33	$19	$248	$164
The amount of total net gains (losses) for the period included in changes in net assets attributable to the change in unrealized gains (losses) relating to assets and liabilities held at September 30	($6)	$2	$—	$—

IPL	Commodity Contract Derivative
	Assets and (Liabilities), net		Deferred Proceeds
Nine Months Ended September 30	2022	2021	2022	2021
Beginning balance, January 1	$18	$26	$214	$188
Total net losses included in changes in net assets (realized/unrealized)	(13)	—	—	—
Transfers out of Level 3	—	(8)	—	—
Purchases	58	16	—	—
Settlements (a)	(30)	(15)	34	(24)
Ending balance, September 30	$33	$19	$248	$164
The amount of total net losses for the period included in changes in net assets attributable to the change in unrealized losses relating to assets and liabilities held at September 30	($14)	$—	$—	$—

WPL	Commodity Contract Derivative
	Assets and (Liabilities), net
Three Months Ended September 30	2022	2021
Beginning balance, July 1	$14	$9
Total net gains included in changes in net assets (realized/unrealized)	5	3
Settlements	(7)	(2)
Ending balance, September 30	$12	$10
The amount of total net gains for the period included in changes in net assets attributable to the change in unrealized gains relating to assets and liabilities held at September 30	$5	$3

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WPL	Commodity Contract Derivative
	Assets and (Liabilities), net
Nine Months Ended September 30	2022	2021
Beginning balance, January 1	$11	$3
Total net gains (losses) included in changes in net assets (realized/unrealized)	(4)	6
Purchases	21	5
Settlements	(16)	(4)
Ending balance, September 30	$12	$10
The amount of total net gains (losses) for the period included in changes in net assets attributable to the change in unrealized gains (losses) relating to assets and liabilities held at September 30	($3)	$6

(a)Settlements related to deferred proceeds are due to the change in the carrying amount of receivables sold less the allowance for expected credit losses associated with the receivables sold and cash amounts received from the receivables sold.

Commodity Contracts - The fair value of FTR and natural gas commodity contracts categorized as Level 3 was recognized as net derivative assets (liabilities) as follows (in millions):

	Alliant Energy		IPL		WPL
	Excluding FTRs	FTRs	Excluding FTRs	FTRs	Excluding FTRs	FTRs
September 30, 2022	($14)	$59	($15)	$48	$1	$11
December 31, 2021	9	20	8	10	1	10

NOTE 13. COMMITMENTS AND CONTINGENCIES

NOTE 13(a) Capital Purchase Commitments - Various contractual obligations contain minimum future commitments related to capital expenditures for certain construction projects, including WPL’s expansion of solar generation. At September 30, 2022, Alliant Energy’s and WPL’s minimum future commitments for these projects were $208 million and $206 million, respectively.

NOTE 13(b) Other Purchase Commitments - Various commodity supply, transportation and storage contracts help meet obligations to provide electricity and natural gas to utility customers. In addition, there are various purchase commitments associated with other goods and services. At September 30, 2022, related minimum future commitments were as follows (in millions):

	Alliant Energy	IPL	WPL
Natural gas	$1,608	$742	$866
Coal	197	95	102
Other (a)	126	57	28
	$1,931	$894	$996

(a)Includes individual commitments incurred during the normal course of business that exceeded $1 million at September 30, 2022.

NOTE 13(c) Guarantees and Indemnifications -

Whiting Petroleum - Whiting Petroleum is an independent oil and gas company. In 2004, Alliant Energy sold its remaining interest in Whiting Petroleum. Alliant Energy Resources, LLC, as the successor to a predecessor entity that owned Whiting Petroleum, and a wholly-owned subsidiary of AEF, continues to guarantee the partnership obligations of an affiliate of Whiting Petroleum under multiple general partnership agreements in the oil and gas industry. The guarantees do not include a maximum limit. Based on information made available to Alliant Energy by Whiting Petroleum, the Whiting Petroleum affiliate holds an approximate 6% share in the partnerships, and currently known obligations include costs associated with the future abandonment of certain facilities owned by the partnerships. The general partnerships were formed under California law, and Alliant Energy Resources, LLC may need to perform under the guarantees if the affiliate of Whiting Petroleum is unable to meet its partnership obligations.

As of September 30, 2022, the currently known partnership obligations for the abandonment obligations are estimated at $58 million, which represents Alliant Energy’s currently estimated maximum exposure under the guarantees. Alliant Energy estimates its expected loss to be a portion of the $58 million of known partnership abandonment obligations of the Whiting Petroleum affiliate and the other partners. Alliant Energy is not aware of any material liabilities related to these guarantees that it is probable that it will be obligated to pay; however, as of both September 30, 2022 and December 31, 2021, a liability of $5 million is recorded in “Other liabilities” on Alliant Energy’s balance sheets for expected credit losses related to the contingent obligations that are in the scope of these guarantees.

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Whiting Petroleum completed a business combination with Oasis Petroleum Inc. in July 2022. The combined operations are now known as Chord Energy Corporation. The business combination is not expected to affect the scope of the Whiting Petroleum affiliate’s obligations to Alliant Energy or Alliant Energy’s related guarantees.

Non-utility Wind Farm in Oklahoma - In 2017, a wholly-owned subsidiary of AEF acquired a cash equity ownership interest in a non-utility wind farm located in Oklahoma. The wind farm provides electricity to a third party under a long-term PPA. Alliant Energy provided a parent guarantee of its subsidiary’s indemnification obligations under the related operating agreement and PPA. Alliant Energy’s obligations under the operating agreement were $59 million as of September 30, 2022 and will reduce annually until expiring in July 2047. Alliant Energy’s obligations under the PPA are subject to a maximum limit of $17 million and expire in December 2031, subject to potential extension. Alliant Energy is not aware of any material liabilities related to this guarantee that it is probable that it will be obligated to pay and therefore has not recognized any material liabilities related to this guarantee as of September 30, 2022 and December 31, 2021.

NOTE 13(d) Environmental Matters -

Manufactured Gas Plant (MGP) Sites - IPL and WPL have current or previous ownership interests in various sites that are previously associated with the production of gas for which IPL and WPL have, or may have in the future, liability for investigation, remediation and monitoring costs. IPL and WPL are working pursuant to the requirements of various federal and state agencies to investigate, mitigate, prevent and remediate, where necessary, the environmental impacts to property, including natural resources, at and around these former MGP sites in order to protect public health and the environment. At September 30, 2022, estimated future costs expected to be incurred for the investigation, remediation and monitoring of the MGP sites, as well as environmental liabilities recorded on the balance sheets for these sites, which are not discounted, were as follows (in millions). At September 30, 2022, such amounts for WPL were not material.

	Alliant Energy			IPL
Range of estimated future costs	$9	-	$25	$6	-	$19
Current and non-current environmental liabilities	$12			$8

IPL Consent Decree - In 2015, the U.S. District Court for the Northern District of Iowa approved a Consent Decree that IPL entered into with the EPA, the Sierra Club, the State of Iowa and Linn County in Iowa, thereby resolving potential Clean Air Act issues associated with emissions from IPL’s coal-fired generating facilities in Iowa. IPL has completed various requirements under the Consent Decree. IPL’s remaining requirements include fuel switching or retiring Prairie Creek Units 1 and 3 by December 31, 2025. Alliant Energy and IPL currently expect to recover material costs incurred by IPL related to compliance with the terms of the Consent Decree from IPL’s electric customers.

Other Environmental Contingencies - In addition to the environmental liabilities discussed above, various environmental rules are monitored that may have a significant impact on future operations. Several of these environmental rules are subject to legal challenges, reconsideration and/or other uncertainties. Given uncertainties regarding the outcome, timing and compliance plans for these environmental matters, the complete financial impact of each of these rules is not able to be determined; however, future capital investments and/or modifications to EGUs and electric and gas distribution systems to comply with certain of these rules could be significant. Specific current, proposed or potential environmental matters include, among others: Effluent Limitation Guidelines, Coal Combustion Residuals Rule, and various legislation and EPA regulations to monitor and regulate the emission of greenhouse gases, including the Clean Air Act.

NOTE 13(e) MISO Transmission Owner Return on Equity Complaints - A group of stakeholders, including MISO cooperative and municipal utilities, previously filed complaints with FERC requesting a reduction to the base return on equity authorized for MISO transmission owners, including ITC Midwest LLC and ATC. In 2019, FERC issued an order on the previously filed complaints and reduced the base return on equity authorized for the MISO transmission owners to 9.88% for November 12, 2013 through February 11, 2015, and subsequent to September 28, 2016. In 2020, FERC issued orders in response to various rehearing requests and increased the base return on equity authorized for the MISO transmission owners from 9.88% to 10.02% for November 12, 2013 through February 11, 2015, and subsequent to September 28, 2016. In August 2022, the U.S. Court of Appeals for the District of Columbia Circuit vacated FERC’s prior orders that established the base return on equity authorized for the MISO transmission owners and remanded the cases to FERC for further proceedings, which may result in additional changes to the base return on equity authorized for the MISO transmission owners. As a result of the August 2022 court decision, Alliant Energy recorded a $5 million reduction in “Equity income from unconsolidated investments” in its income statement for the three and nine months ended September 30, 2022 to reflect the anticipated reduction in the base return on equity authorized for the MISO transmission owners. Any further changes in FERC’s decisions may have an impact on Alliant Energy’s share of ATC’s future earnings and customer costs.

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NOTE 14. SEGMENTS OF BUSINESS

Certain financial information relating to Alliant Energy’s, IPL’s and WPL’s business segments is as follows. Intersegment revenues were not material to their respective operations.

Alliant Energy					ATC Holdings,	Alliant
	Utility				Non-Utility,	Energy
	Electric	Gas	Other	Total	Parent and Other	Consolidated
	(in millions)
Three Months Ended September 30, 2022
Revenues	$1,039	$62	$11	$1,112	$23	$1,135
Operating income (loss)	304	(3)	1	302	7	309
Net income (loss) attributable to Alliant Energy common shareowners				245	(18)	227
Three Months Ended September 30, 2021
Revenues	$939	$50	$13	$1,002	$22	$1,024
Operating income (loss)	290	(5)	(5)	280	9	289
Net income attributable to Alliant Energy common shareowners				250	6	256

Alliant Energy					ATC Holdings,	Alliant
	Utility				Non-Utility,	Energy
	Electric	Gas	Other	Total	Parent and Other	Consolidated
	(in millions)
Nine Months Ended September 30, 2022
Revenues	$2,624	$418	$35	$3,077	$70	$3,147
Operating income	680	62	4	746	23	769
Net income attributable to Alliant Energy common shareowners				574	5	579
Nine Months Ended September 30, 2021
Revenues	$2,357	$289	$36	$2,682	$60	$2,742
Operating income (loss)	601	42	(4)	639	24	663
Net income attributable to Alliant Energy common shareowners				537	34	571

IPL	Electric	Gas	Other	Total
	(in millions)
Three Months Ended September 30, 2022
Revenues	$596	$33	$11	$640
Operating income (loss)	174	(3)	—	171
Net income available for common stock				154
Three Months Ended September 30, 2021
Revenues	$555	$31	$13	$599
Operating income (loss)	186	(3)	(3)	180
Net income available for common stock				157
Nine Months Ended September 30, 2022
Revenues	$1,438	$224	$34	$1,696
Operating income	353	33	3	389
Net income available for common stock				327
Nine Months Ended September 30, 2021
Revenues	$1,343	$165	$35	$1,543
Operating income (loss)	365	30	(1)	394
Net income available for common stock				322

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WPL	Electric	Gas	Other	Total
	(in millions)
Three Months Ended September 30, 2022
Revenues	$443	$29	$—	$472
Operating income	130	—	1	131
Net income				91
Three Months Ended September 30, 2021
Revenues	$384	$19	$—	$403
Operating income (loss)	104	(2)	(2)	100
Net income				93
Nine Months Ended September 30, 2022
Revenues	$1,186	$194	$1	$1,381
Operating income	327	29	1	357
Net income				247
Nine Months Ended September 30, 2021
Revenues	$1,014	$124	$1	$1,139
Operating income (loss)	236	12	(3)	245
Net income				215

NOTE 15. RELATED PARTIES

Service Agreements - Pursuant to service agreements, IPL and WPL receive various administrative and general services from an affiliate, Corporate Services. These services are billed to IPL and WPL at cost based on expenses incurred by Corporate Services for the benefit of IPL and WPL, respectively. These costs consisted primarily of employee compensation and benefits, fees associated with various professional services, depreciation and amortization of property, plant and equipment, and a return on net assets. Corporate Services also acts as agent on behalf of IPL and WPL pursuant to the service agreements. As agent, Corporate Services enters into energy, capacity, ancillary services, and transmission sale and purchase transactions within MISO. Corporate Services assigns such sales and purchases among IPL and WPL based on statements received from MISO. The amounts billed for services provided, sales credited and purchases for the three and nine months ended September 30 were as follows (in millions):

	IPL				WPL
	Three Months		Nine Months		Three Months		Nine Months
	2022	2021	2022	2021	2022	2021	2022	2021
Corporate Services billings	$45	$50	$136	$138	$39	$37	$117	$113
Sales credited	11	4	11	9	31	16	62	23
Purchases billed	119	105	342	347	42	24	103	71

Net intercompany payables to Corporate Services were as follows (in millions):

	IPL		WPL
	September 30, 2022	December 31, 2021	September 30, 2022	December 31, 2021
Net payables to Corporate Services	$113	$110	$88	$83

ATC - Pursuant to various agreements, WPL receives a range of transmission services from ATC. WPL provides operation, maintenance, and construction services to ATC. WPL and ATC also bill each other for use of shared facilities owned by each party. The related amounts billed between the parties for the three and nine months ended September 30 were as follows (in millions):

	Three Months		Nine Months
	2022	2021	2022	2021
ATC billings to WPL	$38	$29	$107	$91
WPL billings to ATC	6	4	14	13

WPL owed ATC net amounts of $9 million as of September 30, 2022 and $10 million as of December 31, 2021.

ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

This MDA includes information relating to Alliant Energy, and IPL and WPL (collectively, the Utilities), as well as ATC Holdings, AEF and Corporate Services. Where appropriate, information relating to a specific entity has been segregated and labeled as such. The following discussion and analysis should be read in conjunction with the Financial Statements and the Notes included in this report, as well as the financial statements, notes and MDA included in the 2021 Form 10-K. Unless otherwise noted, all “per share” references in MDA refer to earnings per diluted share.

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2022 HIGHLIGHTS

Key highlights since the filing of the 2021 Form 10-K include the following:

Customer Investments:

•In response to a petition from a U.S.-based solar panel assembler, in March 2022, the U.S. Department of Commerce initiated an investigation into whether the sourcing of solar project materials and equipment from certain Southeast Asian countries circumvent tariffs and duties imposed on such materials and equipment imported from China. In June 2022, a presidential executive order postponed through 2024 any additional tariffs on solar project materials and equipment while the U.S. Department of Commerce completes its investigation. Alliant Energy, IPL and WPL are currently unable to predict with certainty the future outcome or impact of these matters, including from any related legal challenges; however, this could result in delays and/or higher costs for IPL’s and WPL’s planned development and acquisition of additional renewable energy, and impact Alliant Energy’s, IPL’s and WPL’s anticipated future construction and acquisition expenditures.

•In June 2022, the PSCW issued an order approving WPL’s second certificate of authority to acquire, construct, own, and operate up to 414 MW of new solar generation in the following Wisconsin counties: Dodge (150 MW), Waushara (99 MW), Rock (65 MW), Grant (50 MW) and Green (50 MW).

•In June 2022, IPL filed for a revised fixed cost cap of $1,934/kilowatt with the IUB related to IPL’s November 2021 advance rate-making principles filing for up to 400 MW of solar generation with in-service dates in 2023 and 2024 and approximately 75 MW of battery storage in 2024, which reflects higher materials, labor and shipping costs. The revised fixed cost cap includes allowance for funds used during construction and transmission upgrade costs among other costs. In September 2022, IPL provided the IUB with a summary of the Inflation Reduction Act of 2022, as well as an economic analysis indicating full ownership for its planned solar and battery storage projects is currently expected to result in lower costs for its customers compared to previous plans to utilize tax equity financing. IPL currently expects a decision from the IUB on its filing by the end of 2022.

•In August 2022, FERC approved MISO’s proposal to change its methodology for procuring capacity in the energy market effective with the 2023/2024 MISO Planning Year, as a result of changes in the overall generation resource mix due to the shift to renewable generation and the retirement of certain fossil-fueled generation. The capacity construct will change from the current Summer-based annual construct to four distinct seasons to help ensure the continued reliability of the electric transmission grid. FERC’s approval also includes establishing planning reserve margin requirements for all market participants on a seasonal basis and determining a seasonal accredited capacity value for certain classes of generating resources, including higher accredited capacity for wind generation during the Spring, Fall and Winter seasons and lower accredited capacity for solar generation during the Winter season. Alliant Energy, IPL and WPL are currently unable to predict with certainty the future outcome or impact of these matters, but anticipate additional generating resources will be needed to comply with the requirements of the new capacity construct. Refer to “Liquidity and Capital Resources” for discussion of proposed changes to IPL’s and WPL’s current resource plans resulting from these matters.

•In September 2022, WPL filed a request with the PSCW for approval to construct, own and operate 175 MW of battery storage, with 100 MW and 75 MW at the Grant County and Wood County solar projects, respectively. Estimated capital expenditures for these planned projects for 2023 through 2025 are included in the “Renewables and battery storage” line in the construction and acquisition table in “Liquidity and Capital Resources.”

•In September 2022, after the enactment of the Inflation Reduction Act of 2022, WPL informed the PSCW of its decision to retain full ownership of its planned solar projects instead of financing a portion of the projects with tax equity partners, which is currently expected to result in lower costs for its customers compared to previous plans to utilize tax equity financing.

•In September 2022, WPL completed the construction of the Bear Creek Solar Garden in Richland County, Wisconsin (50 MW).

•In October 2022, WPL completed the construction of the North Rock Solar Garden in Rock County, Wisconsin (50 MW).

•Refer to Note 3 for discussion of revised expected timing for the retirements of various IPL and WPL coal-fired EGUs.

Rate Matters:

•In June 2022, WPL filed a limited reopener request with the PSCW to increase annual retail gas rates for the 2023 forward-looking Test Period by approximately $10 million, which reflects changes in weighted average cost of capital, updated depreciation rates and modifications to certain regulatory asset and regulatory liability amortizations. WPL currently expects a decision from the PSCW on its request by the end of 2022.

•In August 2022, the PSCW authorized WPL to collect $37 million in 2023 from its retail electric customers, plus interest, for an under-collection of fuel-related costs incurred by WPL in 2021 that were higher than fuel-related costs used to determine rates for such period. In addition, in November 2022, WPL filed updated fuel-related cost information for 2023 with the PSCW, which reflects an increase in annual retail electric rates of approximately $63 million in 2023 compared to WPL’s approved 2022 fuel-related costs. WPL currently expects a decision from the PSCW on its request by the end of 2022.

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•WPL currently expects to file a retail electric and gas rate review with the PSCW in the second quarter of 2023 for the 2024/2025 forward-looking Test Period. The key drivers for the anticipated filing include revenue requirement impacts of increasing electric and gas rate base, including investments in solar generation and battery storage. Any rate changes granted from this pending request are expected to be effective on January 1, 2024, with a decision from the PSCW expected by the end of 2023.

•IPL currently expects to file a retail electric and gas rate review with the IUB by the first half of 2024. The key drivers for the anticipated filing include revenue requirement impacts of increasing electric and gas rate base, including investments in solar generation and battery storage.

Legislative Matters:

•Refer to Note 9 for discussion of Iowa tax reform enacted in March 2022.

•In August 2022, the Inflation Reduction Act of 2022 was enacted. The most significant provisions of the new legislation for Alliant Energy, IPL and WPL relate to a 10-year extension of tax credits for clean energy projects, a new production tax credit eligible for solar projects, a new stand-alone investment tax credit for battery storage projects and the right to transfer future renewable credits to other corporate taxpayers. The new legislation also includes a requirement for corporations with income over $1 billion to pay a 15% minimum tax; however, Alliant Energy is currently below this income level. Alliant Energy, IPL and WPL currently expect to utilize various provisions of the new legislation to enhance the tax benefits expected from their announced approximately 1,500 MW of solar and 250 MW of battery storage projects, including transferring the future tax credits from such projects to other corporate taxpayers and opting to retain full ownership of such projects instead of financing a portion of the projects with tax equity partners. Compared to previous plans to utilize tax equity financing, the impact of these changes is expected to result in lower costs for IPL's and WPL's customers, higher rate base amounts, additional financing needs expected to be satisfied with additional long-term debt and common stock issuances, and improvements in long-term cash flows over the life of the solar and battery storage projects.

Financings and Common Stock Dividends:

•Refer to “Results of Operations” for discussion of expected future issuances of common stock and common stock dividends, and expected future issuances and retirements of long-term debt, by the end of 2023.

RESULTS OF OPERATIONS

Results of operations include financial information prepared in accordance with GAAP as well as utility electric margins and utility gas margins, which are not measures of financial performance under GAAP. Utility electric margins are defined as electric revenues less electric production fuel, purchased power and electric transmission service expenses. Utility gas margins are defined as gas revenues less cost of gas sold. Utility electric margins and utility gas margins are non-GAAP financial measures because they exclude other utility and non-utility revenues, other operation and maintenance expenses, depreciation and amortization expenses, and taxes other than income tax expense.

Management believes that utility electric and gas margins provide a meaningful basis for evaluating and managing utility operations since electric production fuel, purchased power and electric transmission service expenses and cost of gas sold are generally passed through to customers, and therefore, result in changes to electric and gas revenues that are comparable to changes in such expenses. The presentation of utility electric and gas margins herein is intended to provide supplemental information for investors regarding operating performance. These utility electric and gas margins may not be comparable to how other entities define utility electric and gas margin. Furthermore, these measures are not intended to replace operating income as determined in accordance with GAAP as an indicator of operating performance.

Additionally, the table below includes EPS for Utilities and Corporate Services, ATC Holdings, and Non-utility and Parent, which are non-GAAP financial measures. Alliant Energy believes these non-GAAP financial measures are useful to investors because they facilitate an understanding of segment performance and trends, and provide additional information about Alliant Energy’s operations on a basis consistent with the measures that management uses to manage its operations and evaluate its performance.

Financial Results Overview - Alliant Energy’s net income and EPS attributable to Alliant Energy common shareowners for the three months ended September 30 were as follows (dollars in millions, except per share amounts):

	2022		2021
	Income (Loss)	EPS	Income (Loss)	EPS
Utilities and Corporate Services	$249	$0.99	$254	$1.01
ATC Holdings	5	0.02	8	0.03
Non-utility and Parent	(27)	(0.11)	(6)	(0.02)
Alliant Energy Consolidated	$227	$0.90	$256	$1.02

Alliant Energy’s Utilities and Corporate Services net income decreased by $5 million for the three-month period, primarily due to higher interest expense and the timing of income taxes.

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Alliant Energy’s Non-utility and Parent net income decreased by $21 million for the three-month period, primarily due to higher interest expense, the timing of income taxes and the impact of the Iowa corporate income tax rate change.

For the three and nine months ended September 30, operating income and a reconciliation of utility electric and gas margins to the most directly comparable GAAP measure, operating income, was as follows (in millions):

	Alliant Energy		IPL		WPL
Three Months	2022	2021	2022	2021	2022	2021
Operating income	$309	$289	$171	$180	$131	$100
Electric utility revenues	$1,039	$939	$596	$555	$443	$384
Electric production fuel and purchased power expenses	(274)	(207)	(140)	(101)	(134)	(105)
Electric transmission service expense	(157)	(148)	(115)	(103)	(42)	(44)
Utility Electric Margin (non-GAAP)	608	584	341	351	267	235
Gas utility revenues	62	50	33	31	29	19
Cost of gas sold	(26)	(18)	(14)	(12)	(13)	(6)
Utility Gas Margin (non-GAAP)	36	32	19	19	16	13
Other utility revenues	11	13	11	13	—	—
Non-utility revenues	23	22	—	—	—	—
Other operation and maintenance expenses	(172)	(171)	(90)	(95)	(70)	(66)
Depreciation and amortization expenses	(169)	(165)	(95)	(94)	(71)	(70)
Taxes other than income tax expense	(28)	(26)	(15)	(14)	(11)	(12)
Operating income	$309	$289	$171	$180	$131	$100

	Alliant Energy		IPL		WPL
Nine Months	2022	2021	2022	2021	2022	2021
Operating income	$769	$663	$389	$394	$357	$245
Electric utility revenues	$2,624	$2,357	$1,438	$1,343	$1,186	$1,014
Electric production fuel and purchased power expenses	(633)	(478)	(290)	(215)	(343)	(263)
Electric transmission service expense	(428)	(403)	(303)	(274)	(125)	(128)
Utility Electric Margin (non-GAAP)	1,563	1,476	845	854	718	623
Gas utility revenues	418	289	224	165	194	124
Cost of gas sold	(242)	(149)	(126)	(84)	(117)	(65)
Utility Gas Margin (non-GAAP)	176	140	98	81	77	59
Other utility revenues	35	36	34	35	1	1
Non-utility revenues	70	60	—	—	—	—
Other operation and maintenance expenses	(492)	(477)	(260)	(253)	(193)	(194)
Depreciation and amortization expenses	(501)	(494)	(285)	(281)	(211)	(209)
Taxes other than income tax expense	(82)	(78)	(43)	(42)	(35)	(35)
Operating income	$769	$663	$389	$394	$357	$245

Operating Income Variances - Variances between periods in operating income for the three and nine months ended September 30, 2022 compared to the same periods in 2021 were as follows (in millions):

	Three Months			Nine Months
	Alliant Energy	IPL	WPL	Alliant Energy	IPL	WPL
Total higher (lower) utility electric margin variance (Refer to details below)	$24	($10)	$32	$87	($9)	$95
Total higher utility gas margin variance (Refer to details below)	4	—	3	36	17	18
Total (higher) lower other operation and maintenance expenses variance (Refer to details below)	(1)	5	(4)	(15)	(7)	1
Total higher depreciation and amortization expense	(4)	(1)	(1)	(7)	(4)	(2)
Other	(3)	(3)	1	5	(2)	—
	$20	($9)	$31	$106	($5)	$112

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Electric and Gas Revenues and Sales Summary - Electric and gas revenues (in millions), and MWh and Dth sales (in thousands), for the three and nine months ended September 30 were as follows:

Alliant Energy	Electric				Gas
	Revenues		MWhs Sold		Revenues		Dths Sold
	2022	2021	2022	2021	2022	2021	2022	2021
Three Months
Retail	$908	$845	6,788	7,031	$50	$40	3,584	3,264
Sales for resale	115	78	1,759	1,853	N/A	N/A	N/A	N/A
Transportation/Other	16	16	16	18	12	10	30,982	26,365
	$1,039	$939	8,563	8,902	$62	$50	34,566	29,629
Nine Months
Retail	$2,327	$2,124	19,304	19,262	$379	$258	37,284	33,299
Sales for resale	251	181	5,161	4,411	N/A	N/A	N/A	N/A
Transportation/Other	46	52	46	53	39	31	83,241	74,111
	$2,624	$2,357	24,511	23,726	$418	$289	120,525	107,410

IPL	Electric				Gas
	Revenues		MWhs Sold		Revenues		Dths Sold
	2022	2021	2022	2021	2022	2021	2022	2021
Three Months
Retail	$559	$525	3,736	3,914	$25	$25	1,739	1,702
Sales for resale	28	21	581	487	N/A	N/A	N/A	N/A
Transportation/Other	9	9	9	9	8	6	9,743	9,308
	$596	$555	4,326	4,410	$33	$31	11,482	11,010
Nine Months
Retail	$1,358	$1,259	10,821	10,810	$199	$145	19,118	17,268
Sales for resale	53	49	1,600	1,160	N/A	N/A	N/A	N/A
Transportation/Other	27	35	25	26	25	20	31,917	29,727
	$1,438	$1,343	12,446	11,996	$224	$165	51,035	46,995

WPL	Electric				Gas
	Revenues		MWhs Sold		Revenues		Dths Sold
	2022	2021	2022	2021	2022	2021	2022	2021
Three Months
Retail	$349	$320	3,052	3,117	$25	$15	1,845	1,562
Sales for resale	87	57	1,178	1,366	N/A	N/A	N/A	N/A
Transportation/Other	7	7	7	9	4	4	21,239	17,057
	$443	$384	4,237	4,492	$29	$19	23,084	18,619
Nine Months
Retail	$969	$865	8,483	8,452	$180	$113	18,166	16,031
Sales for resale	198	132	3,561	3,251	N/A	N/A	N/A	N/A
Transportation/Other	19	17	21	27	14	11	51,324	44,384
	$1,186	$1,014	12,065	11,730	$194	$124	69,490	60,415

Sales Trends and Temperatures - Alliant Energy’s retail electric sales volumes decreased 3% and were unchanged for the three and nine months ended September 30, 2022 compared to the same periods in 2021, respectively, primarily due to changes in sales volumes of commercial and industrial customers due to standby service customers that can use other generation, as well as maintenance outages at certain large customers. Alliant Energy’s retail gas sales volumes increased 10% and 12% for the three and nine months ended September 30, 2022 compared to the same periods in 2021, respectively, primarily due to changes in temperatures and increases in the number of retail customers.

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Estimated increases (decreases) to electric and gas margins from the impacts of temperatures for the three and nine months ended September 30 were as follows (in millions):

	Electric Margins						Gas Margins
	Three Months			Nine Months			Three Months			Nine Months
	2022	2021	Change	2022	2021	Change	2022	2021	Change	2022	2021	Change
IPL	$4	$5	($1)	$15	$16	($1)	$—	($1)	$1	$4	$1	$3
WPL	—	—	—	10	9	1	—	—	—	2	—	2
Total Alliant Energy	$4	$5	($1)	$25	$25	$—	$—	($1)	$1	$6	$1	$5

Electric Sales for Resale - Electric sales for resale volume changes were largely due to changes in sales in the wholesale energy markets operated by MISO. These changes are impacted by several factors, including the availability and dispatch of Alliant Energy’s EGUs and electricity demand within these wholesale energy markets. Changes in sales for resale revenues were largely offset by changes in fuel-related costs, and therefore, did not have a significant impact on electric margins.

Gas Transportation/Other - Gas transportation/other sales volume changes were largely due to changes in the gas volumes supplied to Alliant Energy’s natural gas-fired EGUs caused by the availability and dispatch of such EGUs. Changes in these transportation/other revenues did not have a significant impact on gas margins.

Utility Electric Margin Variances - The following items contributed to increased (decreased) utility electric margins for the three and nine months ended September 30, 2022 compared to the same periods in 2021 as follows (in millions):

	Three Months			Nine Months
	Alliant Energy	IPL	WPL	Alliant Energy	IPL	WPL
Higher revenue requirements at WPL due to increasing rate base (a)	$32	$—	$32	$85	$—	$85
Higher revenues at IPL due to changes in credits on customers’ bills related to excess deferred income tax benefits amortization through the tax benefit rider (offset by changes in income tax)	—	—	—	11	11	—
Lower revenues at IPL due to changes in the renewable energy rider (mostly offset by changes in income tax)	(4)	(4)	—	(23)	(23)	—
Other	(4)	(6)	—	14	3	10
	$24	($10)	$32	$87	($9)	$95

(a)In December 2021, the PSCW issued an order authorizing annual base rate increases of $114 million and $15 million for WPL’s retail electric and gas customers, respectively, covering the 2022/2023 forward-looking Test Period, which was based on a stipulated agreement between WPL and certain stakeholders. The key drivers for the annual base rate increases include higher retail fuel-related costs in 2022, lower excess deferred income tax benefits in 2022 and 2023 compared to 2021, and revenue requirement impacts of increasing electric and gas rate base, including investments in solar generation. Retail electric rate changes were effective on January 1, 2022 and extend through the end of 2023. Retail gas rate changes were effective on January 1, 2022 and extend through the end of 2022. The higher fuel expense costs are recognized in electric margin and the lower amount of excess deferred income tax benefits is recognized as a reduction in income tax.

Utility Gas Margin Variances - The following items contributed to increased (decreased) utility gas margins for the three and nine months ended September 30, 2022 compared to the same periods in 2021 as follows (in millions):

	Three Months			Nine Months
	Alliant Energy	IPL	WPL	Alliant Energy	IPL	WPL
Higher revenues at IPL related to changes in recovery amounts for energy efficiency costs through the energy efficiency rider (mostly offset by changes in energy efficiency expense)	$1	$1	$—	$12	$12	$—
Higher revenue requirements at WPL due to increasing rate base (refer to (a) above)	1	—	1	10	—	10
Other (includes higher sales in 2022)	2	(1)	2	14	5	8
	$4	$—	$3	$36	$17	$18

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Other Operation and Maintenance Expenses Variances - The following items contributed to (increased) decreased other operation and maintenance expenses for the three and nine months ended September 30, 2022 compared to the same periods in 2021 as follows (in millions):

	Three Months			Nine Months
	Alliant Energy	IPL	WPL	Alliant Energy	IPL	WPL
Higher energy efficiency expense at IPL (mostly offset by higher revenues)	$—	$—	$—	($8)	($8)	$—
Non-utility Travero (mostly offset by higher revenues)	(2)	—	—	(9)	—	—
Other	1	5	(4)	2	1	1
	($1)	$5	($4)	($15)	($7)	$1

Other Income and Deductions Variances - The following items contributed to (increased) decreased other income and deductions for the three and nine months ended September 30, 2022 compared to the same periods in 2021 as follows (in millions):

	Three Months			Nine Months
	Alliant Energy	IPL	WPL	Alliant Energy	IPL	WPL
Higher interest expense primarily due to financings completed in 2022 and 2021 and higher interest rates	($15)	($3)	($6)	($29)	($8)	($9)
(Lower) higher equity income from unconsolidated investments, net (refer to Note 5 for details)	(8)	—	—	(10)	—	1
Higher AFUDC primarily due to changes in construction work in progress balances related to WPL’s solar generation	3	1	2	18	1	17
Other	3	1	2	7	4	2
	($17)	($1)	($2)	($14)	($3)	$11

Income Taxes - Refer to Note 9 for details of effective income tax rates.

Preferred Dividend Requirements of IPL - Alliant Energy’s and IPL’s preferred dividend requirements decreased for the three and nine months ended September 30, 2022 compared to the same periods in 2021 due to the redemption of IPL’s 5.1% cumulative preferred stock in December 2021.

Other Future Considerations - In addition to items discussed in this report, the following key items could impact Alliant Energy’s, IPL’s and WPL’s future financial condition or results of operations:

•Financing Plans - Alliant Energy currently expects to issue up to $250 million of common stock in 2023 through one or more offerings and its Shareowner Direct Plan. IPL, WPL (subject to regulatory approval) and AEF currently expect to issue up to $300 million, $300 million, and $450 million of long-term debt, respectively, by the end of 2023. WPL and AEF have $250 million and $400 million of long-term debt maturing in 2022 and 2023, respectively.

•Common Stock Dividends - Alliant Energy announced a 6% increase in its targeted 2023 annual common stock dividend to $1.81 per share, which is equivalent to a quarterly rate of $0.4525 per share, beginning with the February 2023 dividend payment. The timing and amount of future dividends is subject to an approved dividend declaration from Alliant Energy’s Board of Directors, and is dependent upon earnings expectations, capital requirements, and general financial business conditions, among other factors.

•Higher Earnings on Increasing Rate Base - Alliant Energy and WPL currently expect an increase in earnings in 2023 compared to 2022 due to impacts from increasing revenue requirements related to investments in the utility business, including WPL’s solar investments.

•Other Operation and Maintenance Expenses - Alliant Energy, IPL and WPL currently expect a decrease in other operation and maintenance expenses in 2023 compared to 2022 largely due to cost reductions resulting from operating efficiencies.

•Interest Expense - Alliant Energy, IPL and WPL currently expect an increase in interest expense in 2023 compared to 2022 due to financings completed in 2022 and planned by the end of 2023 as discussed above, as well as expected higher interest rates.

LIQUIDITY AND CAPITAL RESOURCES

The liquidity and capital resources summary included in the 2021 Form 10-K has not changed materially, except as described below.

Liquidity Position - At September 30, 2022, Alliant Energy had $344 million of cash and cash equivalents, $617 million ($67 million at the parent company, $250 million at IPL and $300 million at WPL) of available capacity under the single revolving credit facility and $109 million of available capacity at IPL under its sales of accounts receivable program.

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Capital Structure - Capital structures at September 30, 2022 were as follows (Long-term Debt (including current maturities) (LD); Short-term Debt (SD); Common Equity (CE)):

Cash Flows - Selected information from the cash flows statements was as follows (in millions):

	Alliant Energy		IPL		WPL
	2022	2021	2022	2021	2022	2021
Cash, cash equivalents and restricted cash, January 1	$40	$56	$34	$50	$2	$3
Cash flows from (used for):
Operating activities	485	477	166	95	279	349
Investing activities	(599)	(452)	84	122	(612)	(510)
Financing activities	421	(57)	(239)	(254)	630	162
Net increase (decrease)	307	(32)	11	(37)	297	1
Cash, cash equivalents and restricted cash, September 30	$347	$24	$45	$13	$299	$4

Operating Activities - The following items contributed to increased (decreased) operating activity cash flows for the nine months ended September 30, 2022 compared to the same period in 2021 (in millions):

	Alliant Energy	IPL	WPL
Higher collections from WPL’s retail electric and gas base rate increases	$95	$—	$95
Lower contributions to qualified defined benefit pension plans	37	17	18
Natural gas cost payments from extreme temperatures in February 2021 resulting in under-recovered natural gas costs at IPL in 2021	15	15	—
Credits issued to IPL’s retail electric customers in 2021 through its transmission cost rider for refunds received in 2020 for MISO transmission owner return on equity complaints	14	14	—
Timing of WPL’s fuel-related cost recoveries from customers	(71)	—	(71)
Changes in levels of gas stored underground and prepaid gas costs	(35)	(13)	(22)
Changes in interest payments	(23)	(5)	(6)
Changes in income taxes paid/refunded	(6)	5	(27)
Other (primarily due to other changes in working capital)	(18)	38	(57)
	$8	$71	($70)

As discussed in “2022 Highlights,” the Inflation Reduction Act of 2022 provides the right to transfer future renewable tax credits to other corporate taxpayers, which is expected to result in future cash flows from operating activities for Alliant Energy, IPL and WPL.

Investing Activities - The following items contributed to increased (decreased) investing activity cash flows for the nine months ended September 30, 2022 compared to the same period in 2021 (in millions):

	Alliant Energy	IPL	WPL
(Higher) lower utility construction and acquisition expenditures (a)	($101)	$16	($117)
Changes in the amount of cash receipts on sold receivables	(65)	(65)	—
Other	19	11	15
	($147)	($38)	($102)

(a)Largely due to higher expenditures for WPL’s solar generation, partially offset by lower expenditures for IPL’s and WPL’s electric and gas distribution systems.

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Construction and Acquisition Expenditures - Construction and acquisition expenditures and financing plans are reviewed, approved and updated as part of the strategic planning process. Changes may result from a number of reasons, including regulatory requirements, changing legislation, not obtaining favorable and acceptable regulatory approval on certain projects, improvements in technology, and improvements to ensure reliability of the electric and gas distribution systems. Construction and acquisition expenditures for 2022 through 2026 are currently anticipated as follows (in millions), which are focused on the transition to cleaner energy and strengthening the resiliency and reliability of IPL’s and WPL’s electric grid. Cost estimates represent Alliant Energy’s, IPL’s and WPL’s portion of construction expenditures and exclude AFUDC and capitalized interest, if applicable.

	Alliant Energy					IPL					WPL
	2022	2023	2024	2025	2026	2022	2023	2024	2025	2026	2022	2023	2024	2025	2026
Generation:
Renewables and battery storage	$775	$900	$1,205	$725	$1,060	$40	$325	$625	$260	$670	$735	$575	$580	$465	$390
Other	80	100	315	490	335	40	55	55	70	100	40	45	260	420	235
Distribution:
Electric systems	465	550	595	545	535	250	320	360	300	280	215	230	235	245	255
Gas systems	75	80	85	85	85	35	35	40	40	40	40	45	45	45	45
Other	145	220	210	175	180	25	45	40	45	45	20	35	30	30	30
	$1,540	$1,850	$2,410	$2,020	$2,195	$390	$780	$1,120	$715	$1,135	$1,050	$930	$1,150	$1,205	$955

New MISO Seasonal Capacity Construct - As discussed in “2022 Highlights,” in August 2022, FERC approved MISO’s proposal to change its methodology for procuring capacity in the energy market effective with the 2023/2024 MISO Planning Year. IPL and WPL currently plan to construct and/or acquire additional renewable, battery and natural gas resources to comply with the requirements of this new methodology and have reflected the estimated capital expenditures for these projects in the "Renewables and battery storage" and "Other” Generation lines in the construction and acquisition table above.

Renewables and Battery Storage - Alliant Energy, IPL and WPL continue to evaluate potential impacts from cost pressures prevalent in the solar generation and battery storage markets and the pending U.S. Department of Commerce investigation on the timing and estimated costs for IPL’s and WPL’s planned development and acquisition of additional renewable energy, which could impact their anticipated future construction and acquisition expenditures. Refer to “2022 Highlights” for further discussion of the U.S. Department of Commerce investigation and regulatory filings with the IUB and PSCW related to future renewable and battery storage projects, including recent filings by IPL and WPL announcing plans to shift away from tax equity partnerships to traditional ownership for future renewable and battery storage projects following the enactment of the Inflation Reduction Act of 2022.

Financing Activities - The following items contributed to increased (decreased) financing activity cash flows for the nine months ended September 30, 2022 compared to the same period in 2021 (in millions):

	Alliant Energy	IPL	WPL
Higher net proceeds from issuance of long-term debt	$938	$—	$288
Capital contributions from noncontrolling interest	29	—	29
Higher payments to retire long-term debt	(375)	—	—
Net changes in the amount of commercial paper outstanding	(59)	—	18
Distributions to noncontrolling interest	(29)	—	(29)
(Higher) lower common stock dividends	(18)	61	(7)
Higher (lower) capital contributions from IPL’s and WPL’s parent company, Alliant Energy	—	(50)	175
Other	(8)	4	(6)
	$478	$15	$468

IPL and WPL Solar Project Tax Equity Financing - As discussed in Note 1(c) and “2022 Highlights,” with the August 2022 enactment of the Inflation Reduction Act of 2022, IPL and WPL currently expect to retain full ownership of their planned solar generation projects instead of financing a portion of the construction costs with capital from tax equity partners.

Common Stock Issuances and Common Stock Dividends - Refer to Note 6 for discussion of common stock issuances by Alliant Energy in 2022. Refer to “Results of Operations” for discussion of expected issuances of common stock and common stock dividends in 2023.

Long-term Debt - Refer to Note 7(b) for discussion of AEF’s and WPL’s issuance of long-term debt and Corporate Services’ retirement of long-term debt in 2022. AEF’s current term loan credit agreement that expires in March 2024 includes an option to increase the amount outstanding up to $400 million in aggregate with the same maturity, subject to bank approval, and includes substantially the same financial covenants that are included in Alliant Energy’s credit facility agreement. Refer to “Results of Operations” for discussion of expected future issuances and retirements of long-term debt by the end of 2023.

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Impact of Credit Ratings on Liquidity and Collateral Obligations -

Ratings Triggers - In June 2022, Standard & Poor’s Ratings Services changed WPL’s outlook from stable to negative. This outlook change is not expected to have a material impact on Alliant Energy and WPL’s liquidity or collateral obligations.

Off-Balance Sheet Arrangements and Certain Financial Commitments - A summary of Alliant Energy’s and IPL’s off-balance sheet arrangements and Alliant Energy’s, IPL’s and WPL’s contractual obligations is included in the 2021 Form 10-K and has not changed materially from the items reported in the 2021 Form 10-K, except for the items described in Notes 4, 7 and 13.

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

Quantitative and Qualitative Disclosures About Market Risk are reported in the 2021 Form 10-K and have not changed materially.

ITEM 4. CONTROLS AND PROCEDURES

Alliant Energy’s, IPL’s and WPL’s management evaluated, with the participation of each of Alliant Energy’s, IPL’s and WPL’s Chief Executive Officer, Chief Financial Officer and Disclosure Committee, the effectiveness of the design and operation of Alliant Energy’s, IPL’s and WPL’s disclosure controls and procedures (as defined in Rule 13a-15(e) of the Securities Exchange Act of 1934, as amended) as of September 30, 2022 pursuant to the requirements of the Securities Exchange Act of 1934, as amended. Based on their evaluation, the Chief Executive Officer and the Chief Financial Officer concluded that Alliant Energy’s, IPL’s and WPL’s disclosure controls and procedures were effective as of the quarter ended September 30, 2022.

There was no change in Alliant Energy’s, IPL’s and WPL’s internal control over financial reporting that occurred during the quarter ended September 30, 2022 that has materially affected, or is reasonably likely to materially affect, Alliant Energy’s, IPL’s or WPL’s internal control over financial reporting.

PART II. OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS

None. SEC regulations require Alliant Energy, IPL and WPL to disclose information about certain proceedings arising under federal, state or local environmental provisions when a governmental authority is a party to the proceedings and such proceedings involve potential monetary sanctions that Alliant Energy, IPL and WPL reasonably believe will exceed a specified threshold. Pursuant to the SEC regulations, Alliant Energy, IPL and WPL use a threshold of $1 million for purposes of determining whether disclosure of any such proceedings is required. Applying this threshold, there are no environmental matters to disclose for this period.

ITEM 1A. RISK FACTORS

The risk factors described in Item 1A in the 2021 Form 10-K have not changed materially.

ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

A summary of Alliant Energy common stock repurchases for the quarter ended September 30, 2022 was as follows:

	Total Number	Average Price	Total Number of Shares	Maximum Number (or Approximate
	of Shares	Paid Per	Purchased as Part of	Dollar Value) of Shares That May
Period	Purchased (a)	Share	Publicly Announced Plan	Yet Be Purchased Under the Plan (a)
July 1 through July 31	4,429	$57.92	—	N/A
August 1 through August 31	2,668	63.83	—	N/A
September 1 through September 30	61	58.18	—	N/A
	7,158	60.12	—

(a)All shares were purchased on the open market and held in a rabbi trust under the Alliant Energy Deferred Compensation Plan. There is no limit on the number of shares of Alliant Energy common stock that may be held under the Deferred Compensation Plan, which currently does not have an expiration date.

ITEM 5. OTHER INFORMATION

On November 4, 2022, the Board of Directors of Alliant Energy Corporation (the “Company”) approved an amendment and restatement of the Amended and Restated Bylaws of the Company, effective November 8, 2022. The amendments update Section 3.14 related to notice of shareowner business and nomination of directors by conforming the bylaw provision to

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universal proxy rules promulgated by the SEC, requiring additional information be provided by shareowners utilizing the bylaw provision, and amending the deadline to submit proposals or nominees under the bylaws to not later than the close of business on the 90th day nor earlier than the close of business on the 120th day prior to the first anniversary of the preceding year’s annual meeting except in certain circumstances. The amendments also include certain technical and clarifying changes to the bylaws.

The foregoing summary is qualified in its entirety by reference to the copy of the Amended and Restated Bylaws of Alliant Energy filed as Exhibit 3.1 to this Quarterly Report on Form 10-Q and is incorporated by reference herein. A blackline of the Amended and Restated Bylaws against the prior version of the bylaws is filed herewith as Exhibit 3.2.

ITEM 6. EXHIBITS

The following Exhibits are filed herewith or incorporated herein by reference.

Exhibit Number	Description
3.1	Amended and Restated Bylaws of Alliant Energy, effective November 8, 2022
3.2	Amended and Restated Bylaws of Alliant Energy, effective November 8, 2022 (marked to show changes against prior version)
4.1	Officers’ Certificate, dated as of August 15, 2022, creating WPL’s 3.950% Debentures due September 1, 2032 (incorporated by reference to Exhibit 4.1 to WPL’s Form 8-K, filed August 15, 2022 (File No. 0-337))
31.1	Certification of the Chief Executive Officer for Alliant Energy
31.2	Certification of the Chief Financial Officer for Alliant Energy
31.3	Certification of the Chief Executive Officer for IPL
31.4	Certification of the Chief Financial Officer for IPL
31.5	Certification of the Chief Executive Officer for WPL
31.6	Certification of the Chief Financial Officer for WPL
32.1	Written Statement of the Chief Executive Officer and Chief Financial Officer Pursuant to 18 U.S.C.§1350 for Alliant Energy
32.2	Written Statement of the Chief Executive Officer and Chief Financial Officer Pursuant to 18 U.S.C.§1350 for IPL
32.3	Written Statement of the Chief Executive Officer and Chief Financial Officer Pursuant to 18 U.S.C.§1350 for WPL
101.INS	Inline XBRL Instance Document - the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document
101.SCH	Inline XBRL Taxonomy Extension Schema Document
101.CAL	Inline XBRL Taxonomy Extension Calculation Linkbase Document
101.LAB	Inline XBRL Taxonomy Extension Label Linkbase Document
101.PRE	Inline XBRL Taxonomy Extension Presentation Linkbase Document
101.DEF	Inline XBRL Taxonomy Extension Definition Linkbase Document
104	Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, Alliant Energy Corporation, Interstate Power and Light Company and Wisconsin Power and Light Company have each duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized on the 8th day of November 2022.

ALLIANT ENERGY CORPORATION
Registrant
By: /s/ Benjamin M. Bilitz	Chief Accounting Officer and Controller
Benjamin M. Bilitz	(Principal Accounting Officer and Authorized Signatory)

INTERSTATE POWER AND LIGHT COMPANY
Registrant
By: /s/ Benjamin M. Bilitz	Chief Accounting Officer and Controller
Benjamin M. Bilitz	(Principal Accounting Officer and Authorized Signatory)

WISCONSIN POWER AND LIGHT COMPANY
Registrant
By: /s/ Benjamin M. Bilitz	Chief Accounting Officer and Controller
Benjamin M. Bilitz	(Principal Accounting Officer and Authorized Signatory)

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EX-3.1

Exhibit 3.1

AMENDED AND RESTATED BYLAWS

OF

ALLIANT ENERGY CORPORATION

Effective as of November 8, 2022

ARTICLE I

OFFICES

Section 1.1    PRINCIPAL AND BUSINESS OFFICES. - The Corporation may have such principal and other business offices, either within or without the State of Wisconsin, as the Board of Directors may designate or as the business of the Corporation may require from time to time.

Section 1.2    REGISTERED OFFICE. - The registered office of the Corporation required by the Wisconsin Business Corporation Law to be maintained in the State of Wisconsin may be, but need not be, identical with the principal office in the State of Wisconsin, and the address of the registered office may be changed from time to time by the Board of Directors or by the registered agent. The business office of the registered agent of the Corporation shall be identical to such registered office.

ARTICLE II

SEAL

Section 2.1    CORPORATE SEAL. - The corporate seal shall have inscribed thereon the name of the Corporation and the words “CORPORATE SEAL, WISCONSIN.” Said seal may be used by causing it or a facsimile thereof to be impressed or affixed or reproduced.

ARTICLE III

SHAREOWNERS

Section 3.1    ANNUAL MEETING. - The annual meeting of the shareowners (the "Annual Meeting") shall be held at such date and time as the Board of Directors may determine. In fixing a meeting date for any Annual Meeting, the Board of Directors may consider such factors as it deems relevant within the good faith exercise of its business judgment. At each Annual Meeting, the shareowners shall elect that number of directors equal to the number of directors in the class whose term expires at the time of such meeting. At any such Annual Meeting, only other business properly brought before the meeting in accordance with Section 3.14 of these Bylaws may be conducted. If the election of directors shall not be held on the date fixed as herein provided, for any Annual Meeting, or any adjournment thereof, the Board of Directors shall cause the election to be held at a special meeting of shareowners (a "Special Meeting") as soon thereafter as is practicable.

Section 3.2    SPECIAL MEETINGS. - A Special Meeting may be called only by (i) the Board of Directors or (ii) the Chief Executive Officer and shall be called by the Chief Executive Officer upon the demand, in accordance with this Section 3.2, of the holders of record of shares representing at least 10% of all the votes entitled to be cast on any issue proposed to be considered at the Special Meeting.

(a)In order that the Corporation may determine the shareowners entitled to demand a Special Meeting, the Board of Directors may fix a record date to determine the shareowners entitled to make such a demand (the "Demand Record Date"). The Demand Record Date shall not precede the date upon which the resolution fixing the Demand Record Date is adopted by the Board of Directors and shall not be more than ten days after the date upon which the resolution fixing the Demand Record Date is adopted by the Board of Directors. Any shareowner of record seeking to have shareowners demand a Special Meeting shall, by sending written notice to the Corporate Secretary of the Corporation by hand or by certified or registered mail, return receipt requested, request the Board of Directors to fix a Demand Record Date. The Board of Directors shall promptly, but in all events within ten days after the date on which a valid request to fix a Demand Record Date is received, adopt a resolution fixing the Demand Record Date and shall make a public announcement of such Demand Record Date. If no Demand Record Date has been fixed by the Board of Directors within ten days after the date on which such request is received by the Corporate Secretary, the Demand Record Date shall be the 10th day after the first date on which a valid written request to set a Demand Record Date is received by the Corporate Secretary. To be valid, such written request shall set forth the purpose or purposes for which the Special Meeting is to be held, shall be signed by each requesting shareowner of record (or their duly authorized proxies), shall bear the date of signature of each such shareowner (or proxy) and shall set forth all information about each such shareowner and about the beneficial owner or owners, if any, on whose behalf the request is made that would be required to be set forth in a shareowner's notice described in paragraph (a)(ii) of Section 3.14 of these Bylaws.

(b)In order for a shareowner or shareowners to demand a Special Meeting, a written demand or demands for a Special Meeting by the holders of record as of the Demand Record Date of shares representing at least 10% of all the votes entitled to be cast on any issue proposed to be considered at the Special Meeting must be delivered to the Corporation. To be valid, each written demand by a shareowner for a Special Meeting shall set forth the specific purpose or purposes for which the Special Meeting is to be

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held (which purpose or purposes shall be limited to the purpose or purposes set forth in the written request to set a Demand Record Date received by the Corporation pursuant to paragraph (a) of this Section 3.2), shall be signed by each person who as of the Demand Record Date are shareowners of record (or their duly authorized proxies), shall bear the date of signature of each such shareowner (or proxy), and shall set forth the name and address, as they appear in the Corporation's books, of each shareowner signing such demand and the class and number of shares of the Corporation which are owned of record and beneficially by each such shareowner, shall be sent to the Corporate Secretary by hand or by certified or registered mail, return receipt requested, and shall be received by the Corporate Secretary within seventy days after the Demand Record Date.

(c)The Corporation shall not be required to call a Special Meeting upon shareowner demand unless, in addition to the documents required by paragraph (b) of this Section 3.2, the Corporate Secretary receives a written agreement signed by each Soliciting Shareowner (as defined below), pursuant to which each Soliciting Shareowner, jointly and severally, agrees to pay the Corporation's costs of holding the Special Meeting, including the costs of preparing and mailing Proxy materials for the Corporation's own solicitation, provided that if each of the resolutions introduced by any Soliciting Shareowner at such meeting is adopted, and each of the individuals nominated by or on behalf of any Soliciting Shareowner for election as a director at such meeting is elected, then the Soliciting Shareowners shall not be required to pay such costs. For purposes of this paragraph (c), the following terms shall have the meanings set forth below:

(i)"Affiliate" of any Person (as defined herein) shall mean any Person controlling, controlled by or under common control with such first Person.

(ii)"Participant" shall have the meaning assigned to such term in Rule 14a-12 promulgated under the Securities Exchange Act of 1934, as amended (the "Exchange Act").

(iii)"Person" shall mean any individual, firm, corporation, partnership, joint venture, association, trust, unincorporated organization or other entity.

(iv)"Proxy" shall have the meaning assigned to such term in Rule 14a-1 promulgated under the Exchange Act.

(v)"Solicitation" shall have the meaning assigned to such term in Rule 14a-1 promulgated under the Exchange Act.

(vi)"Soliciting Shareowner" shall mean, with respect to any Special Meeting demanded by a shareowner or shareowners, any of the following Persons:

(A)    if the number of shareowners signing the demand or demands of meeting delivered to the Corporation pursuant to paragraph (b) of this Section 3.2 is ten or fewer, each shareowner signing any such demand;

(B)    if the number of shareowners signing the demand or demands of meeting delivered to the Corporation pursuant to paragraph (b) of this Section 3.2 is more than ten, each Person who either (I) was a Participant in any Solicitation of such demand or demands or (II) at the time of the delivery to the Corporation of the documents described in paragraph (b) of this Section 3.2 had engaged or intends to engage in any Solicitation of Proxies for use at such Special Meeting (other than a Solicitation of Proxies on behalf of the Corporation); or

(C)    any Affiliate of a Soliciting Shareowner, if a majority of the directors then in office determine, reasonably and in good faith, that such Affiliate should be required to sign the written notice described in paragraph (b) of this Section 3.2 and/or the written agreement described in this paragraph (c) in order to prevent the purposes of this Section 3.2 from being evaded.

(d)Except as provided in the following sentence, any Special Meeting shall be held at such hour and day as may be designated by whichever of the Board of Directors or the Chief Executive Officer shall have called such meeting. In the case of any Special Meeting called by the Chief Executive Officer upon the demand of shareowners (a "Demand Special Meeting"), such meeting shall be held at such hour and day as may be designated by the Board of Directors; provided, however, that the date of any Demand Special Meeting shall be not more than seventy days after the Meeting Record Date (as defined in Section 3.6 hereof); and providedfurther that in the event that the directors then in office fail to designate an hour and date for a Demand Special Meeting within ten days after the date that valid written demands for such meeting by the holders of record as of the Demand Record Date of shares representing at least 10% of all the votes entitled to be cast on each issue proposed to be considered at the Special Meeting are delivered (as determined in according with paragraph (c) of this Section 3.2) to

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the Corporation (the "Delivery Date"), then such meeting shall be held at 2:00 P.M. local time on the 100th day after the Delivery Date or, if such 100th day is not a Business Day (as defined below), on the first preceding Business Day. In fixing a meeting date for any Special Meeting, the Board of Directors or the Chief Executive Officer may consider such factors as it or the Chief Executive Officer deems relevant within the good faith exercise of its or the Chief Executive Officer’s business judgment, including, without limitation, the nature of the action proposed to be taken, the facts and circumstances surrounding any demand for such meeting, and any plan of the Board of Directors to call an Annual Meeting or a Special Meeting for the conduct of related business.

(e)The Corporation may engage regionally or nationally recognized independent inspectors of elections to act as an agent of the Corporation for the purpose of promptly performing a ministerial review of the validity of any purported written demand or demands for a Special Meeting received by the Corporate Secretary. For the purpose of permitting the inspectors to perform such review, no purported demand shall be deemed to have been delivered to the Corporation until the earlier of (i) five Business Days following receipt by the Corporate Secretary of such purported demand and (ii) such date as the independent inspectors certify to the Corporation that the valid demands received by the Corporate Secretary represent at least 10% of all the votes entitled to be cast on each issue proposed to be considered at the Special Meeting. Nothing contained in this paragraph (e) shall in any way be construed to suggest or imply that the Board of Directors or any shareowner shall not be entitled to contest the validity of any demand, whether during or after such five Business Day period, or to take any other action (including, without limitation, the commencement, prosecution or defense of any litigation with respect thereto).

(f)For purposes of these Bylaws, "Business Day" shall mean any day other than a Saturday, a Sunday or a day on which banking institutions in the State of Wisconsin are authorized or obligated by law or executive order to close.

(g)Compliance with the requirements of this Section 3.2(a), (b) and (c) shall be determined in good faith by the Board of Directors in its sole and absolute discretion, which determination shall be conclusive and binding on the Corporation and the shareowners.

Section 3.3    PLACE OF MEETING; USE OF REMOTE COMMUNICATIONS.

(a)Subject to paragraph (b) below, the Board of Directors or the Chief Executive Officer may designate any place, either within or without the State of Wisconsin, as the place for any Annual Meeting or any Special Meeting, or for any postponement thereof, and if no designation is made, the place of meeting shall be the principal office of the Corporation. Any meeting may be adjourned to reconvene at any place designated by vote of the Board of Directors or determined by the Chief Executive Officer.

(b)The Board of Directors, may, in its sole discretion, determine that any Annual Meeting or any Special Meeting shall not be held at any place, but may instead be held solely by means of remote communication. The Board of Directors may also determine, in its sole discretion, that shareowners and proxies of shareowners not physically present at the designated place of any Annual Meeting or any Special Meeting may participate in the meeting by means of remote communication.

Section 3.4    NOTICE OF MEETINGS - Written notice stating the date, time, place (if any) and the means of remote communications (if any) of any meeting of shareowners shall be delivered not less than ten days nor more than sixty days before the date of the meeting (unless a different time period is provided by the Wisconsin Business Corporation Law or the Articles of Incorporation), by or at the direction of the Chief Executive Officer or the Corporate Secretary, to each shareowner of record entitled to vote at such meeting (other than a shareowner that the Corporation is not required to give such notice to under the Wisconsin Business Corporation Law) and to such other persons as required by the Wisconsin Business Corporation Law. In the event of any Demand Special Meeting, such notice of meeting shall be sent not more than thirty days after the Delivery Date (as determined in accordance with Section 3.12(c) of these Bylaws). Unless otherwise required by the Wisconsin Business Corporation Law or the Articles of Incorporation, a notice of an Annual Meeting need not include a description of the purpose for which the meeting is called. In the case of any Special Meeting, (i) the notice of meeting shall describe any business that the Board of Directors shall have theretofore determined to bring before the meeting and (ii) in the case of a Demand Special Meeting, the notice of meeting (A) shall describe any business set forth in the statement of purpose of the demands received by the Corporation in accordance with Section 3.2 of these Bylaws and (B) shall contain all of the information required in the notice received by the Corporation in accordance with Section 3.14(b) of these Bylaws, to the extent permitted by law. If an Annual Meeting or Special Meeting is adjourned to a different date, time or place, or will be held by a new means of remote communication, the Corporation shall not be required to give notice of the new date, time, place or means of remote communication if the new date, time, place or means of remote communication is announced at the meeting before adjournment; provided, however, that if a new Meeting Record Date for an adjourned meeting is or must be fixed, the Corporation shall give notice of the adjourned meeting to persons who are shareowners as of the new Meeting Record Date.

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Section 3.5    WAIVER OF NOTICE - A shareowner may waive any notice required by the Wisconsin Business Corporation Law, the Articles of Incorporation or these Bylaws before or after the date and time stated in the notice. The waiver shall be in writing and signed by the shareowner entitled to the notice, contain the same information that would have been required in the notice under applicable provisions of the Wisconsin Business Corporation Law (except that the time and place of meeting need not be stated) and be delivered to the Corporation for inclusion in the corporate records. A shareowner's attendance at any Annual Meeting or Special Meeting, whether physical or remote, in person or by proxy, waives objection to all of the following: (a) lack of notice or defective notice of the meeting, unless the shareowner at the beginning of the meeting or promptly upon arrival objects to holding the meeting or transacting business at the meeting; and (b) consideration of a particular matter at the meeting that is not within the purpose described in the meeting notice, unless the shareowner objects to considering the matter when it is presented.

Section 3.6    FIXING OF RECORD DATE. - The Board of Directors may fix in advance a date not less than ten days and not more than seventy days prior to the date of an Annual Meeting or Special Meeting as the record date for the determination of shareowners entitled to notice of, or to vote at, such meeting (the "Meeting Record Date"). In the case of any Demand Special Meeting, (i) the Meeting Record Date shall be not later than the 30th day after the Delivery Date and (ii) if the Board of Directors fails to fix the Meeting Record Date within thirty days after the Delivery Date, then the close of business on such 30th day shall be the Meeting Record Date. The shareowners of record on the Meeting Record Date shall be the shareowners entitled to notice of and to vote at the meeting. Except as provided by the Wisconsin Business Corporation Law for a court-ordered adjournment, a determination of shareowners entitled to notice of and to vote at an Annual Meeting or Special Meeting is effective for any adjournment of such meeting unless the Board of Directors fixes a new Meeting Record Date, which it shall do if the meeting is adjourned to a date more than 120 days after the date fixed for the original meeting. The Board of Directors may also fix in advance a date as the record date for the purpose of determining shareowners entitled to take any other action or determining shareowners for any other purpose. Such record date shall be not more than seventy days prior to the date on which the particular action, requiring such determination of shareowners, is to be taken. The record date for determining shareowners entitled to a distribution (other than a distribution involving a purchase, redemption or other acquisition of the Corporation's shares) or a share dividend is the date on which the Board of Directors authorizes the distribution or share dividend, as the case may be, unless the Board of Directors fixes a different record date.

Section 3.7    SHAREOWNER LIST. – To the extent required by the Wisconsin Business Corporation Law, the Corporation shall have available, beginning two (2) business days after the notice of the meeting is given for which the list was prepared and continuing to the date of the meeting, a complete record of each shareowner entitled to vote at such meeting, or any adjournment thereof, showing the address of and number of shares held by each shareowner. To the extent required by the Wisconsin Business Corporation Law, the shareowner list shall be available for inspection by any shareowner during normal business hours at the Corporation’s principal office or at a place identified in the meeting notice in the city where the meeting will be held, or on a reasonably accessible electronic network if the information required to gain access to the list is provided with the notice of the meeting. The Corporation shall, to the extent required by the Wisconsin Business Corporation Law, make the shareowners’ list available at the meeting and any shareowner or a designated agent or attorney may inspect the list at any time during the meeting or any adjournment thereof. If the meeting is held solely by means of remote communication, any required list shall be open to examination of any shareowner during the entire time of the meeting on a reasonably accessible electronic network, and information required to access the list shall be provided with the notice of the meeting.

Section 3.8    QUORUM AND VOTING REQUIREMENTS.

(a)Shares entitled to vote as a separate voting group may take action on a matter at any Annual Meeting or Special Meeting only if a quorum of those shares exists with respect to that matter. If the Corporation has only one class of stock outstanding, such class shall constitute a separate voting group for purposes of this Section 3.8. Except as otherwise provided in the Articles of Incorporation or the Wisconsin Business Corporation Law, a majority of the votes entitled to be cast on the matter shall constitute a quorum of the voting group for action on that matter. Once a share is represented for any purpose at any Annual Meeting or Special Meeting, other than for the purpose of objecting to holding the meeting or transacting business at the meeting, it is considered present for purposes of determining whether a quorum exists for the remainder of the meeting and for any adjournment of that meeting unless a new Meeting Record Date is or must be set for the adjourned meeting. If a quorum exists, action on a matter shall be approved if the votes cast within the voting group favoring the action exceed the votes cast opposing the action, unless the Articles of Incorporation or the Wisconsin Business Corporation Law requires a greater number of affirmative votes.

(b)At any Annual Meeting or Special Meeting for the election of Directors at which a quorum is present, in a non-contested election, Directors shall be elected by a majority of the votes cast by the shares entitled to vote in the election of Directors with respect to that Director’s election. For purposes of this Section 3.8(b), a majority of votes cast shall mean that the number of votes cast “for” a Director’s election exceeds the number of votes cast “against” with respect to that Director’s election. Abstentions and broker non-votes will not be counted as votes cast with respect to that Director’s election.

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At any Annual Meeting or Special Meeting for the election of Directors at which a quorum is present, in a contested election, Directors shall be elected by a plurality of the votes cast by the shares entitled to vote in the election of Directors. An election shall be considered contested if, as of the last day on which a shareowner may propose the nomination of a Director for election pursuant to these Bylaws, there are more nominees than positions on the Board of Directors to be filled by election at the Annual Meeting or Special Meeting.

In the event that an incumbent Director fails to receive a majority of the votes cast in a non-contested election, such Director shall tender a resignation to the Chair of the Board promptly following final certification of the shareowner vote. The Nominating and Governance Committee shall consider such resignation and make a recommendation to the Board as to whether to accept or reject the tendered resignation, or whether other action should be taken. The Board shall consider whether to accept or reject the tendered resignation, taking into account the Nominating and Governance Committee’s recommendation and all other factors deemed relevant, and publicly disclose (by a press release, a filing with the SEC or other broadly disseminated means of communication) its decision regarding the tendered resignation within 90 days from the date of final certification of the shareowner vote. The Director who has tendered a resignation pursuant to this provision shall not participate in the Nominating and Governance Committee’s or the Board’s deliberations or decision with respect to such Director’s tendered resignation.

(c)The Board of Directors acting by resolution may postpone and reschedule any previously scheduled Annual Meeting or Special Meeting; provided, however, that a Demand Special Meeting shall not be postponed or rescheduled beyond the 100th day following the Delivery Date. Any Annual Meeting or Special Meeting may be adjourned from time to time, whether or not there is a quorum, (i) at any time, upon a resolution by shareowners if the votes cast in favor of such resolution by the holders of shares of each voting group entitled to vote on any matter theretofore properly brought before the meeting exceed the number of votes cast against such resolution by the holders of shares of each such voting group or (ii) at any time prior to the transaction of any business at such meeting, by the chair of the meeting or pursuant to a resolution of the Board of Directors. No notice of the time, place or means of remote communication of adjourned meetings need be given except as required by the Wisconsin Business Corporation Law. At any adjourned meeting at which a quorum shall be present or represented, any business may be transacted which might have been transacted at the meeting as originally notified.

Section 3.9    CONDUCT OF MEETING. - The Chair of the Board shall preside at each meeting of shareowners. In the absence of the Chair of the Board, such persons, in the following order, shall act as chair of the meeting: the Chief Executive Officer, the President, any Vice President, and the Director in attendance with the longest tenure in that office. The Corporate Secretary of the Corporation or, if such person is absent, an Assistant Corporate Secretary of the Corporation or other person appointed by the chair of the meeting shall act as secretary of each shareowner meeting. The Board of Directors may, to the extent not prohibited by law, adopt by resolution such rules and regulations for the conduct of an Annual Meeting or Special Meeting as it shall deem appropriate. Except to the extent inconsistent with such rules and regulations as adopted by the Board of Directors, the chair of the meeting shall have the right and authority to prescribe such rules, regulations or procedures and to do such acts as, in the judgment of the chair of the meeting, are appropriate for the proper conduct of an Annual Meeting or Special Meeting. Such rules, regulations or procedures, whether adopted by the Board of Directors or prescribed by the chair of the meeting, may to the extent not prohibited by law include, without limitation, the following: (a) the establishment of an agenda or order of business for the meeting and time of adjournment of the meeting; (b) rules and procedures for maintaining order at the meeting and the safety of those present; (c) limitations on attendance at or participation in the meeting to shareowners of record of the corporation, their duly authorized and constituted proxies (which shall be reasonable in number) or such other persons as the chair of the meeting shall determine; (d) restrictions on entry to the meeting after the time fixed for the commencement thereof; (e) limitations on the time allotted to questions or comments by participants; (f) rules and procedures regarding the execution of election ballots before or after the time fixed for the commencement of the meeting; (g) the appointment of an inspector of election or an officer or agent of the Corporation authorized to tabulate votes; and (h) rules and procedures to facilitate the conduct of, and participation in, the meeting by electronic means. The chair of the meeting shall determine and announce at the meeting the time at which the polls will close for each matter voted up at the meeting. Determinations by the chair of the meeting related to enforcement of rules, regulations or procedures shall be conclusive and binding on the Corporation and the shareowners.

Section 3.10    PROXIES. – At any Annual Meeting or Special Meeting, a shareowner entitled to vote may vote their shares in person or by proxy. A shareowner entitled to vote at an Annual Meeting or Special Meeting may authorize another person to act for the shareowner by appointing the person as proxy. Without limiting the manner in which a shareowner may appoint a proxy, a shareowner or the shareowner’s authorized officer, director, employee, agent or attorney-in-fact may use any of the following as a valid means to make such an appointment:

(a)    Appointment of a proxy in writing by signing or causing the shareowner’s signature to be affixed to an appointment form by any reasonable means, including, but not limited to, by facsimile signature.

(b)    Appointment of a proxy by transmitting or authorizing the transmission of an electronic transmission of the appointment to the person who will be appointed as proxy or to a proxy solicitation firm, proxy

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support service organization or like agent authorized to receive the transmission by the person who will be appointed as proxy. Every electronic transmission shall contain, or be accompanied by, information that can be used to reasonably determine that the shareowner transmitted or authorized the transmission of the electronic transmission. Any person charged with determining whether a shareowner transmitted or authorized the transmission of the electronic transmission shall specify the information upon which the determination is made.

An appointment of a proxy is effective when a signed appointment form or an electronic transmission of the appointment is received by the inspector of election or the officer or agent of the Corporation authorized to tabulate votes. An appointment is valid for eleven months unless a different period is expressly provided in the appointment. Unless otherwise provided, a proxy may be revoked any time before it is voted, either by appointing a new proxy in accordance with the Wisconsin Business Corporation Law or by oral notice given by the shareowner to the presiding officer during the meeting. The presence of a shareowner who has made an effective proxy appointment shall not itself constitute a revocation. The Board of Directors shall have the power and authority to make rules establishing presumptions as to the validity and sufficiency of proxies.

Section 3.11    VOTING OF SHARES. - Except as provided in the Articles of Incorporation or statute, each outstanding share entitled to vote shall be entitled to one (1) vote upon each matter submitted to a vote at a meeting of shareowners.

Section 3.12    VOTING OF SHARES BY CERTAIN HOLDERS. - Shares standing in the name of another corporation may be voted by such officer, agent or proxy as the Bylaws of such corporation may prescribe, or, in the absence of such provision, as the Board of Directors of such corporation may determine.

Shares held by an administrator, executor, guardian or conservator may be voted by such person, either in person or by proxy, without a transfer of such shares into that person’s name. Shares standing in the name of a trustee may be voted by such trustee, either in person or by proxy, without a transfer of such shares into the trustee’s name. The Corporation may request evidence of such fiduciary status with respect to the vote, consent, waiver, or proxy appointment.

Shares standing in the name of a receiver or trustee in bankruptcy may be voted by such receiver or trustee, and shares held by or under the control of a receiver may be voted by such receiver without the transfer of the shares into such person’s name if authority so to do is contained in an appropriate order of the court by which such receiver was appointed.

A pledgee, beneficial owner, or attorney-in-fact of the shares held in the name of a shareowner shall be entitled to vote such shares. The Corporation may request evidence of such signatory’s authority to sign for the shareowner with respect to the vote, consent, waiver, or proxy appointment.

Neither treasury shares nor shares held by another corporation, if a majority of the shares entitled to vote for the election of Directors of such other corporation is held by the Corporation, shall be voted at any meeting or counted in determining the total number of outstanding shares at any given time.

Section 3.13    ACTION WITHOUT MEETING. - Any action required or permitted by the Articles of Incorporation or these Bylaws or any provision of the Wisconsin Business Corporation Law to be taken at an Annual Meeting or Special Meeting may be taken without a meeting if a written consent or consents, describing the action so taken, is signed by all of the shareowners entitled to vote with respect to the subject matter thereof and delivered to the Corporation for inclusion in the corporate records.

Section 3.14    NOTICE OF SHAREOWNER BUSINESS AND NOMINATION OF DIRECTORS.

(a)Annual Meetings.

(i)    Nominations of persons for election to the Board of Directors of the Corporation and the proposal of business to be considered by the shareowners may be made at an Annual Meeting (A) pursuant to the Corporation’s notice of meeting, (B) by or at the direction of the Board of Directors or (C) by any shareowner of the Corporation who is a shareowner of record at the time of giving of notice provided for in this Bylaw and who is entitled to vote at the meeting and complies with the notice procedures set forth in this Section 3.14.

(ii)    For nominations or other business to be properly brought before an Annual Meeting by a shareowner pursuant to paragraph (C) of paragraph (a)(i) of this Section 3.14, the shareowner must have given timely notice thereof in writing to the Corporate Secretary of the Corporation. To be timely, a shareowner’s notice shall be delivered to the Corporate Secretary of the Corporation at the principal executive offices of the Corporation not earlier than the close of business on the 120th day and not later than the close of business on the

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90th day prior to the first anniversary of the preceding year’s annual meeting; provided, however, that if the date of the annual meeting for the current year (the “Current Year Meeting”) is more than 30 days before or more than 60 days after such anniversary date, notice by the shareholder to be timely must be so delivered not earlier than the close of business on the 120th day prior to the date of the Current Year Meeting and not later than the close of business on the later of the 90th day prior to the Current Year Meeting or, if the first public announcement of the date of the Current Year Meeting is less than 100 days prior to the date of the Current Year Meeting, the 10th day following the day on which public announcement of the date of the Current Year Meeting is first made by the Corporation. Such shareowner's notice shall be signed by the shareowner of record who intends to make the nomination or introduce the other business (or its duly authorized proxy), shall bear the date of signature of such shareowner (or proxy) and shall set forth: (A) the name and address, as they appear on this Corporation's books, of such shareowner and the beneficial owner or owners, if any, on whose behalf the nomination or proposal is made and the Affiliates and Associates (as defined within the meaning of Rule 12b-2 under the Exchange Act and the rules and regulations promulgated thereunder) of such shareowner and the beneficial owner or owners; (B) the class and number of shares of the Corporation which are beneficially owned by such shareowner or beneficial owner or owners and their respective Affiliates and Associates; (C) a representation that such shareowner is a holder of record of shares of the Corporation entitled to vote at such meeting and intends to appear in person or by proxy at the meeting to make the nomination or introduce the other business specified in the notice; (D) a description of the class or series, if any, and number of options, warrants, puts, calls, convertible securities, stock appreciation rights, or similar rights, obligations or commitments with an exercise or conversion privilege or a settlement payment or mechanism at a price related to any class or series of shares or other securities of the Corporation or with a value derived in whole or in part from the value of any class or series of shares or other securities of the Corporation, whether or not such instrument, right, obligation or commitment shall be subject to settlement in the underlying class or series of shares or other securities of the Corporation (each a “Derivative Security”), which are, directly or indirectly, beneficially owned by such shareowner or beneficial owner or owners and their respective Affiliates and Associates, if any, and any other direct or indirect opportunity to profit or share in any profit derived from any increase or decrease in the value of shares or other securities of the Corporation; (E) a description of any proxy, contract, arrangement, understanding or relationship pursuant to which the shareowner or beneficial owner, or any of their respective Affiliates and Associates, has a right to vote any shares or other securities of the Corporation; (F) a description of any contract, agreement, arrangement, understanding or relationship including any repurchase or similar so called “stock borrowing” agreement or arrangement, the purpose or effect of which is to mitigate loss, reduce economic risk or increase or decrease voting power with respect to any capital stock of the Corporation or which provides any party, directly or indirectly, the opportunity to profit from any decrease in the price or value of the capital stock of the Corporation; (G) a description of the terms of any number of shares subject to any short interest in any securities of the Corporation in which the shareowner or beneficial owner or any of their respective Affiliates and Associates has an interest (for purposes of these Bylaws a person shall be deemed to have a short interest in a security if such shareowner or beneficial owner, directly or indirectly, through any contract, arrangement, understanding, relationship or otherwise, has the opportunity to profit or share in any profit derived from any decrease in the value of the subject security); (H) any rights to dividends on the shares of the Corporation owned beneficially by such shareowner and such beneficial owner, and any of their respective Affiliates or Associates, if any, that are separated or separable from the underlying shares of the Corporation; (I) a description of any proxy, contract, agreement, arrangement, understanding or relationship with respect to the nomination or other business between or among a shareowner or beneficial owner and any other person, including without limitation any agreements that would be required to be disclosed pursuant to Item 5 or Item 6 of Schedule 13D (regardless of whether the requirement to file a Schedule 13D is applicable); (J) a description of any proportionate interest in shares or other securities of the Corporation or Derivative Securities held, directly or indirectly, by a general or limited partnership, limited liability company or similar entity in which any such shareowner is (I) a general partner or, directly or indirectly, beneficially owns an interest in a general partner of such general or limited partnership, or (II) the manager, managing member or, directly or indirectly, beneficially owns an interest in the manager or managing member of such limited liability company or similar entity; (K) a description of the terms of and number of shares subject to any performance-related fees (other than an asset-based fee) that such shareowner or beneficial owner or their respective Affiliates or Associates is directly or indirectly entitled to based on any increase or decrease in the value of shares or other securities of the Corporation or Derivative Securities, if any, as of the date of the notice, including, without limitation, any such interests held by members of any such shareowner’s or beneficial owner’s immediate family sharing the same household; (L) in

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the case of any proposed nomination for election or re-election as a director, (I) the name and residence address of the person or persons to be nominated, (II) a description of all arrangements or understandings between such shareowner or beneficial owner or owners, and any of their respective Affiliates or Associates, and each nominee and any other person or persons (naming such person or persons) pursuant to which the nomination is to be made by such shareowner, (III) a representation and agreement that such nominee (a) is not and will not become a party to (x) any agreement, arrangement or understanding with, and has not given any commitment or assurance to, any person or entity as to how such person, if elected as a director of the Corporation, will act, in his or her capacity as a director of the Corporation, or vote on any issue or question in his or her capacity as a director of the Corporation (a “Voting Commitment”) that has not been disclosed to the Corporation, or (y) any Voting Commitment that could limit or interfere with such person’s ability to comply, if elected as a director of the Corporation, with such person’s fiduciary duties under applicable law, (b) is not and will not become a party to any agreement, arrangement or understanding with any person or entity other than the Corporation with respect to any direct or indirect compensation, reimbursement or indemnification in connection with service or action as a director that has not been disclosed to the Corporation, and (c) in such person’s individual capacity and on behalf of any person or entity on whose behalf the nomination is being made, would be in compliance, if elected as a director of the Corporation, and will comply with all applicable publicly disclosed corporate governance, ethics, conflict of interest, confidentiality and stock ownership and trading policies and guidelines of the Corporation, including codes of conduct,(IV) such other information regarding each nominee proposed by such shareowner as would be required to be disclosed in solicitations of proxies for elections of directors, or would be otherwise required to be disclosed, in each case pursuant to Regulation 14A under the Exchange Act, including any information that would be required to be included in a proxy statement filed pursuant to Regulation 14A had the nominee been nominated by the Board of Directors, (V) the written consent of each nominee to be named in a proxy statement and to serve as a director of the Corporation if so elected, (VI) a representation as to whether or not the shareowner or beneficial owner intends to solicit proxies in support of director nominees other than the Corporation’s nominees in accordance with Rule 14a-19 promulgated under the Exchange Act and, if so, such other information and statements as are required to be included in a notice provided to the Corporation pursuant to Rule 14a-19 under the Exchange Act, and (VII) a questionnaire, representation and agreement to furnish such information as may reasonably be required by the Corporation to determine the eligibility of such nominee to serve as an independent director of the Corporation, or that could be material to a reasonable shareowner’s understanding of the independence and other qualifications, or lack thereof, of such nominee, that has been completed and signed by both such shareowner (as well as the beneficial owner or owners, if any, on whose behalf the nomination is made) and such nominee (such form of questionnaire, representation and agreement to be made available following a written request by the shareowner and nominee delivered to the Corporate Secretary of the Corporation at the principal executive offices of the Corporation) and (M) in the case of any other business that such shareowner proposes to bring before the meeting, (I) a brief description of the business desired to be brought before the meeting and, if such business includes a proposal to amend these Bylaws, the language of the proposed amendment, (II) such shareowner's and beneficial owner's or owners' reasons for conducting such business at the meeting and (III) any material interest in such business of such shareowner and beneficial owner or owners.

(iii)    Notwithstanding anything in the second sentence of paragraph (a)(ii) of this Section 3.14 to the contrary, in the event that the number of directors to be elected to the Board of Directors of the Corporation is increased and there is no public announcement naming all of the nominees for director or specifying the size of the increased Board of Directors made by the Corporation at least 100 days prior to the date of the Current Year Meeting, a shareowner's notice required by this Section 3.14 shall also be considered timely, but only with respect to nominees for any new positions created by such increase, if it shall be received by the Corporate Secretary at the principal offices of the Corporation not later than the close of business on the 10th day following the day on which such public announcement is first made by the Corporation.

(b)Special Meetings. Only such business shall be conducted at a Special Meeting as shall have been described in the notice of meeting sent to shareowners pursuant to Section 3.4 of these Bylaws. Nominations of persons for election to the Board of Directors may be made at a Special Meeting at which directors are to be elected pursuant to such notice of meeting (i) by or at the direction of the Board of Directors or (ii) by any shareowner of the Corporation who (A) is a shareowner of record at the time of giving of such notice of meeting, (B) is entitled to vote at the meeting and (C) complies with the notice procedures set forth in this Section 3.14. Any shareowner desiring to nominate persons for election to the Board of Directors at such a Special Meeting shall cause a written notice to be received

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by the Corporate Secretary of the Corporation at the principal offices of the Corporation not earlier than ninety days prior to such Special Meeting and not later than the close of business on the later of (x) the 60th day prior to such Special Meeting and (y) the 10th day following the day on which public announcement is first made of the date of such Special Meeting and of the nominees proposed by the Board of Directors to be elected at such meeting. Such written notice shall be signed by the shareowner of record who intends to make the nomination (or its duly authorized proxy), shall bear the date of signature of such shareowner (or its duly authorized proxy) and shall set forth the applicable information required under Section 3.14(a)(ii) of these Bylaws.

(c)General.

(i)    Only persons who are nominated in accordance with the procedures set forth in this Section 3.14 shall be eligible to serve as directors and in no event shall alternate directors be permitted to be nominated after the period for timely notice expires. Only such business shall be conducted at an Annual Meeting or Special Meeting as shall have been brought before such meeting in accordance with the procedures set forth in this Section 3.14. The chair of the meeting shall have the power and duty to determine whether a nomination or any business proposed to be brought before the meeting was made in accordance with the procedures set forth in this Section 3.14 and, if any proposed nomination or business is not in compliance with this Section 3.14, to declare that such defective proposal shall be disregarded.

(ii)    For purposes of this Section 3.14, "public announcement" shall mean disclosure in a press release reported by the Dow Jones News Service, Associated Press or comparable national news service or in a document publicly filed by the Corporation with the Securities and Exchange Commission pursuant to Section 13, 14 or 15(d) of the Exchange Act.

(iii)    Notwithstanding the foregoing provisions of this Section 3.14, unless otherwise required by law, if any shareowner or beneficial owner (A) provides notice pursuant to Rule 14a-19(b) promulgated under the Exchange Act in accordance with the notice provisions contained in Sections 3.14(a) or 3.14(b) of these Bylaws, and (B) subsequently fails to comply with the requirements of Rule 14a-19(a)(2) and Rule 14a-19(a)(3) promulgated under the Exchange Act, then the Corporation shall disregard any proxies or votes solicited for such shareowner’s or beneficial owner’s proposed nominees. Upon request by the Corporation, if any shareowner or beneficial owner provides notice to the Corporation that it intends to solicit proxies in support of director nominees other than the Corporation’s nominees in accordance with Rule 14a-19(b) promulgated under the Exchange Act, such shareowner or beneficial owner shall deliver to the Corporation, no later than five (5) Business Days prior to the applicable meeting, reasonable evidence that it has met the requirements of Rule 14a-19(a)(3) promulgated under the Exchange Act.

(iv)    Notwithstanding the foregoing provisions of this Section 3.14, a shareowner shall also comply with all applicable requirements of the Exchange Act and the rules and regulations thereunder with respect to the matters set forth in this Section 3.14. Nothing in this Section 3.14 shall be deemed to limit the Corporation's obligation to include shareowner proposals in its proxy statement if such inclusion is required by Rule 14a-8 under the Exchange Act.

(v)    Compliance with the requirements of this Section 3.14 shall be determined in good faith by the Board of Directors in its sole and absolute discretion, which determination shall be conclusive and binding on the Corporation and the shareowners.

ARTICLE IV

BOARD OF DIRECTORS

Section 4.1    GENERAL POWER. - The business and affairs of the Corporation shall be managed under the direction of the Board of Directors.

Section 4.2    NUMBER, CLASSES & TERM. - The number of Directors of the Corporation shall be fixed from time to time exclusively by the Board of Directors pursuant to a resolution adopted by the affirmative vote of a majority of the total number of Directors that the Corporation would have if there were no vacancies, but shall not be less than seven (7) nor more than sixteen (16). The Directors of the Corporation shall be divided, with respect to the time for which they severally hold office, into three classes, as nearly equal in number as possible. At each Annual Meeting, the successors to the class of Directors whose terms shall expire at the time of such Annual Meeting shall be elected to hold office until the third succeeding Annual Meeting, and until their successors are duly elected and qualified.

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Section 4.3    CHAIR OF THE BOARD. - The Board of Directors may designate one of the Directors to act as Chair of the Board of Directors. The Chair of the Board of Directors if not designated as the Chief Executive Officer of the Corporation shall assist the Board in the formulation of policies and may make recommendations therefore. Information as to the affairs of the Corporation in addition to that contained in the regular reports shall be furnished on request by and to the Chair. The Chair may make suggestions and recommendations to the Chief Executive Officer regarding any matters relating to the affairs of the Corporation and shall be available for consultation and advice.

Section 4.4    QUALIFICATIONS AND REMOVAL. - No person shall be eligible for election or re-election to the Board of Directors after having attained seventy (70) years of age. After attaining the age of seventy (70), a current member of the Board of Directors may continue to serve the remainder of the term that the member is currently serving. In the event the Chief Executive Officer resigns or retires from office or employment with the Corporation, the Chief Executive Officer shall simultaneously submit a resignation from the Board of Directors. In the event that the Chief Executive Officer is removed from such position by the Board of Directors, or is involuntarily terminated from employment with the Corporation, that person shall simultaneously submit a resignation from the Board of Directors. Any Director who changes an employer or otherwise has a significant change in job responsibilities shall give notice orally or in writing to the Board of Directors, specifying the details, as soon as feasible and shall submit to the Board of Directors an offer to tender a resignation from the Board of Directors and from each Board Committee on which such Director serves. The Nominating and Governance Committee (or any other Committee of the Board of Directors performing similar functions) shall recommend to the Board of Directors whether the Board should accept or reject such offer to tender resignation. An affirmative vote of the remaining Directors holding office of the Board of Directors is required to affirm such recommendation. A resignation under this Section 4.4 may be tendered by any Director orally or in writing at any meeting of the shareowners or of the Board of Directors, who shall at such meeting accept or reject the same.

Section 4.5    REGULAR MEETINGS. - Regular meetings of the Board of Directors shall be held at such time and place as may be determined by the Board of Directors, but in no event shall the Board meet less than once a year.

Section 4.6    SPECIAL MEETINGS. - Special meetings of the Board of Directors may be called by or at the request of the Chair of the Board, the Chief Executive Officer or any two (2) Directors. The Chief Executive Officer or Corporate Secretary may fix any place, either within or without the State of Wisconsin, whether in person or by telecommunications, as the place for holding any special meeting.

Section 4.7    NOTICE; WAIVER. - Notice of any meeting of the Board of Directors, unless otherwise provided pursuant to Section 4.5, shall be given at least forty-eight (48) hours prior to the meeting by notice to each Director. The notice need not describe the purpose of the meeting of the Board of Directors or the business to be transacted at such meeting. Any Director may waive notice of any meeting. The attendance of a Director at a meeting shall constitute a waiver of notice of such meeting, except where a Director attends a meeting for the express purpose of objecting to the transaction of business because the meeting is not lawfully called or convened.

Section 4.8    QUORUM. - A majority of the Board of Directors shall constitute a quorum for the transaction of business at any meeting of the Board of Directors, but if less than such majority is present at a meeting, a majority of the Directors present may adjourn the meeting to some other day without further notice.

Section 4.9    MEETING PARTICIPATION.

(a)    Any or all members of the Board of Directors, or any committee thereof, may participate in a regular or special meeting by, or to conduct the meeting through, the use of any means of communication by which any of the following occurs:

(i)    All participating directors may simultaneously hear each other during the meeting.

(ii)    All communication during the meeting is immediately transmitted to each participating director, and each participating director is able to immediately send messages to all other participating directors.

(b)    If a meeting is conducted by the means of communication described herein, all participating directors shall be informed that a meeting is taking place at which official business may be transacted.

(c)    A director participating in a meeting by means of such communication is deemed to be present in person at the meeting.

Section 4.10    ACTION WITHOUT MEETING. - Any action required or permitted to be taken at any meeting of the Directors of the Corporation or of any Committee of the Board may be taken without a meeting if a

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consent in writing setting forth the action so taken shall be “signed” (as such term is defined in the Wisconsin Business Corporation Law) by all of the Directors or all of the members of the Committee of the Board, as the case may be. Such consent shall have the same force and effect as a unanimous vote at a meeting and shall be filed with the Corporate Secretary of the Corporation to be included in the official records of the Corporation. The action taken is effective when the last Director signs the consent unless the consent specifies a different effective date.

Section 4.11    PRESUMPTION OF ASSENT. - A Director of the Corporation who is present at a meeting of the Board of Directors at which action on any corporate matter is taken shall be presumed to have assented to the action taken unless (a) the Director objects at the beginning of the meeting or promptly upon arrival to the holding of or transacting business at the meeting, (b) the Director’s dissent or abstention shall be entered in the minutes of the meeting, (c) the Director shall file a written dissent or abstention to such action with the presiding officer of the meeting before the adjournment thereof or shall forward such dissent or abstention by registered or certified mail to the Corporate Secretary of the Corporation immediately after the adjournment of the meeting, or (d) the Director shall file a written notice to the Corporate Secretary of the Corporation promptly after receiving the minutes of the meeting that the minutes failed to show the Director’s dissention or abstention from the action taken. Such right to dissent or abstain shall not apply to a Director who voted in favor of such action.

Section 4.12    VACANCIES. - Except as provided below, any vacancy occurring in the Board of Directors or on any Committee of the Board of Directors and any directorship to be filled by reason of an increase in the number of Directors may be filled by the affirmative vote of a majority of the Directors then in office, even if less than a quorum of the Board of Directors. The Director or Directors so chosen shall hold office until the next election of the Class for which such Director or Directors shall have been chosen and until their successors shall have been duly elected and qualified.

Section 4.13    COMPENSATION. - Non-management Directors, the Chair of the Board if non-management, the Lead Independent Director and Board Committee Chairs shall receive reasonable compensation for their services, consistent with the market practices of other similarly situated companies. Directors who are employees of the Corporation shall receive no fees for serving as Directors. Board compensation will be determined by the Nominating and Governance Committee with discussion and concurrence by the Board of Directors.

ARTICLE V

COMMITTEES

Section 5.1    COMMITTEES. - The Board of Directors, by resolution adopted by the affirmative vote of a majority of all the directors then in office, may create one or more Committees (each such Committee to consist of one or more members of the Board of Directors), appoint members of the Board of Directors to serve on such Committees and designate other members of the Board of Directors to serve as alternates. Any standing Committee shall (i) consist of the number of directors with the requisite qualifications, (ii) have the responsibilities and authority, (iii) meet such number of times per year and (iv) report the actions taken by such Committee to the Board of Directors, in each case as set forth in such Committee’s Charter approved from time to time by the Board of Directors, subject to the Wisconsin Business Corporation Law, the Articles of Incorporation and these Bylaws. Subject to the Articles of Incorporation and these Bylaws, and unless otherwise provided by resolution of the Board of Directors, each Committee may make its own rules of procedure, shall meet where and as provided by such rules and shall keep regular minutes of its meetings. Unless otherwise provided by resolution of the Board of Directors, each Committee may employ counsel, accountants and other consultants to assist it in the exercise of its authority.

Section 5.2    CERTAIN COMMITTEE ACTIONS. - To the extent specified by these Bylaws or by resolution of the Board of Directors a Committee may exercise the authority of the Board of Directors, except that a Committee may not do any of the following: (a) approve or recommend to shareowners for approval any action or matter expressly required by the Wisconsin Business Corporation Law to be submitted to shareowners for approval; or (b) adopt, amend or repeal Bylaws.

ARTICLE VI

OFFICERS

Section 6.1    OFFICERS. - The Board of Directors shall elect a Chief Executive Officer, a President, such number of Vice Presidents with such designations as the Board of Directors at the time may decide upon, a Corporate Secretary, a Treasurer and a Controller. The Chief Executive Officer may appoint such other officers and assistant officers as may be deemed necessary. The same person may simultaneously hold more than one such office.

Section 6.2    TERM OF OFFICERS. - All Officers, unless sooner removed, shall hold their respective offices until their successors, willing to serve, shall have been elected but any Officer may be removed from office at any time by the Board of Directors.

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Section 6.3    REMOVAL OF OFFICERS. - Any Officer may be removed by the Board of Directors whenever in its judgment the best interests of the Corporation will be served thereby, but such removal shall be without prejudice to the contract rights, if any, of the person so removed. Election or appointment of an officer shall not of itself create contract rights.

Section 6.4    CHIEF EXECUTIVE OFFICER. - Subject to the control of the Board of Directors the Chief Executive Officer designated by the Board of Directors shall have and be responsible for the general management and direction of the business of the Corporation, shall establish the lines of authority and supervision of the Officers and employees of the Corporation, shall have the power to appoint and remove and discharge any and all agents and employees of the Corporation not elected or appointed directly by the Board of Directors, and shall assist the Board in the formulation of policies of the Corporation.

Section 6.5    PRESIDENT. - The President, when not designated as and does not have the powers of the Chief Executive Officer, shall have such other powers and duties as may from time to time be prescribed by the Board of Directors or be delegated by the Chief Executive Officer.

Section 6.6    VICE PRESIDENTS. - The Vice Presidents shall have such powers and duties as may be prescribed by the Board of Directors and the Chief Executive Officer. The execution of any instrument of the Corporation by any Vice President shall be conclusive evidence, as to third parties, of their authority to act in the stead of the Chief Executive Officer and the President. The Board of Directors may designate any Vice President as being senior in rank or degree of responsibility and may accord such Vice President an appropriate title designating rank, such as “Senior Vice President” or “Executive Vice President.”

Section 6.7    CORPORATE SECRETARY. - The Corporate Secretary shall attend all meetings of the Board of Directors, shall keep a record thereof in proper books to be provided for that purpose, and shall be responsible for the custody and care of the corporate seal, corporate records and minute books of the Corporation, and of all other books, documents and papers as in the practical business operation of the Corporation shall naturally belong in the office or custody of the Corporate Secretary, or shall be placed in the custody of the Corporate Secretary by the Chief Executive Officer or by the Board of Directors. The Corporate Secretary shall also act as Corporate Secretary of all shareowners’ meetings and keep a record thereof. The Corporate Secretary shall, except as may be otherwise required by statute or by these Bylaws, sign, issue and publish all notices required for meetings of shareowners and of the Board of Directors. The Corporate Secretary shall be responsible for the custody of the stock books of the Corporation and shall keep a suitable record of the addresses of shareowners. The Corporate Secretary shall sign stock certificates, bonds and mortgages, and all other documents and papers to which the Corporate Secretary’s signature may be necessary or appropriate, shall affix the seal of the Corporation to all instruments requiring the seal, and shall have such other powers and duties as are commonly incidental to the office of Corporate Secretary, or as may be prescribed by the President or by the Board of Directors.

Section 6.8    TREASURER. - The Treasurer shall have charge of, and be responsible for, the collection, receipt, custody and disbursement of the funds of the Corporation, and shall deposit its funds in the name of the Corporation in such banks or trust companies as the Treasurer shall designate and shall keep a proper record of cash receipts and disbursements. The Treasurer shall be responsible for the custody of such books, receipted vouchers and other books and papers as in the practical business operation of the Corporation shall naturally belong in the office or custody of the Treasurer or shall be placed in the Treasurer’s custody by the President, or by the Board of Directors. The Treasurer shall sign checks, drafts, and other paper providing for the payment of money by the Corporation for operating purposes in the usual course of business. The Treasurer may, in the absence of the Corporate Secretary and Assistant Corporate Secretaries sign stock certificates. The Treasurer shall have such other powers and duties as are commonly incidental to the office of Treasurer, or as may be prescribed by the President or by the Board of Directors.

Section 6.9    CONTROLLER. - The Controller shall be the principal accounting Officer of the Corporation. The Controller shall have general supervision over the books of accounts of the Corporation. The Controller shall have full access to all minutes, contracts, correspondence and other papers and records of the Corporation relating to its business matters, and shall be responsible for the custody of such books and documents as shall naturally belong in the custody of the Controller and as shall be placed in the Controller’s custody by the President or by the Board of Directors. The Controller shall have such other powers and duties as are commonly incidental to the office of Controller, or as may be prescribed by the President or by the Board of Directors.

Section 6.10    ASSISTANT OFFICERS. - The Assistant Corporate Secretaries, Assistant Treasurers, Assistant Controllers, and other Assistant Officers shall respectively assist the Corporate Secretary, Treasurer, Controller, and other Officers of the Corporation in the performance of the respective duties assigned to such principal Officer, and in assisting their principal Officer each assistant Officer shall to that extent and for such purpose have the same powers as such person’s principal Officer. The powers and duties of any such principal Officer shall temporarily devolve upon an assistant Officer in case of the absence, disability, death, resignation or removal from office of such principal Officer.

ARTICLE VII

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CERTIFICATES FOR SHARES AND THEIR TRANSFER

Section 7.1    CERTIFICATES FOR SHARES. - Each certificate representing shares of the Corporation shall state upon the face (a) that the Corporation is organized under the laws of the State of Wisconsin, (b) the name of the person to whom issued, (c) the number and class of shares, and the designation of the series, if any, which such certificate represents, and (d) the par value of each share, if any, and each such certificate shall otherwise be in such form as shall be determined by the Board of Directors. Such certificates shall be signed either manually or in facsimile by the Chair of the Board, or the Chief Executive Officer or the President and by the Corporate Secretary or an Assistant Corporate Secretary and shall be sealed with the corporate seal or a facsimile thereof. Any signature upon a certificate on behalf of a transfer agent and registrar may be manual or in facsimile. In case any officer or other authorized person who has signed or whose facsimile signature has been placed upon such certificate for the Corporation shall have ceased to be such officer or employee or agent before such certificate is issued, it may be issued by the Corporation with the same effect as if such person where an officer or employee or agent at the date of its issue. Each certificate for shares shall be consecutively numbered or otherwise identified.

All certificates surrendered to the Corporation for transfer shall be canceled and no new certificate shall be issued until the former certificate for a like number of shares shall have been surrendered and canceled, except that in case of a lost, destroyed or mutilated certificate a new one may be issued therefor upon such terms and indemnity to the Corporation as the Board of Directors may prescribe.

Section 7.2    TRANSFER OF SHARES. - Transfer of shares of the Corporation shall be made only on the stock transfer books of the Corporation by the holder of record thereof or by such person’s legal representative, who shall furnish proper evidence of authority to transfer, or authorized attorney, by power of attorney duly executed and filed with the Corporate Secretary of the Corporation, and on surrender for cancellation of the certificate for such shares.

Subject to the provisions of Section 3.12 of Article III of these Bylaws, the person in whose name shares stand on the books of the Corporation shall be treated by the Corporation as the owner thereof for all purposes, including all rights deriving from such shares, and the Corporation shall not be bound to recognize any equitable or other claim to, or interest in, such shares or rights deriving from such shares, on the part of any other person, including (without limitation) a purchaser, assignee or transferee of such shares, or rights deriving from such shares, unless and until such purchaser, assignee, transferee or other person becomes the record holder of such shares, whether or not the Corporation shall have either actual or constructive notice of the interest of such purchaser, assignee, transferee or other person. Except as provided in said Section 3.12 hereof, no such purchaser, assignee, transferee or other person shall be entitled to receive notice of the meetings of shareowners, to vote at such meetings, to examine the complete record of the shareowners entitled to vote at meetings, or to own, enjoy or exercise any other property or rights deriving from such shares against the Corporation, until such purchaser, assignee, transferee or other person has become the record holder of such shares.

Section 7.3    LOST, DESTROYED OR STOLEN CERTIFICATES. - When the owner claims that certificates for shares have been lost, destroyed or wrongfully taken, a new certificate shall be issued in place thereof if the owner (a) so requests before the Corporation has notice that such shares have been acquired by a bona fide purchaser, (b) files with the Corporation a sufficient indemnity bond if required by the Corporation and (c) satisfies such other reasonable requirements as may be provided by the Corporation.

Section 7.4    STOCK REGULATIONS. - The Board of Directors shall have the power and authority to make all such further rules and regulations not inconsistent with law as it may deem expedient concerning the issue, transfer and registration of shares of the Corporation.

Section 7.5    SHARES WITHOUT CERTIFICATES. - The Board of Directors hereby authorizes the issuance of any shares of its classes or series without certificates to the full extent that the Corporate Secretary determines that such issuance is allowed by applicable law and rules of any national securities exchange on which such shares are listed, any such determination to be conclusively evidenced by the delivery to the Corporation's transfer agent and registrar by the Corporate Secretary of a certificate referring to this Bylaw and providing instructions of the Corporate Secretary to the transfer agent and registrar to issue any such shares without certificates in accordance with applicable law. In any event, the foregoing authorization does not affect shares already represented by certificates until the certificates are surrendered to the Corporation.

ARTICLE VIII

INDEMNIFICATION AND LIABILITY OF DIRECTOR AND OFFICERS

Section 8.1    CERTAIN DEFINITIONS. – The following capitalized terms (including any plural forms thereof) used in this Article VIII shall be defined for purposes of this Article VIII as follows:

(a)“Authority” shall mean the persons or entity selected by the Director or Officer to determine such person’s right to indemnification pursuant to Section 8.4.

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(b)“Board” shall mean the entire then elected and serving Board of Directors of the Corporation, including without limitation all members thereof who are Parties to the subject Proceeding or any related Proceeding.

(c)“Breach of Duty” shall mean the Director or Officer breached or failed to perform a duty or duties to the Corporation and such breach of or failure to perform those duties is determined, in accordance with Section 8.4 to constitute misconduct under Section 180.0851(2)(a) l, 2, 3 or 4 of the Statute.

(d)“Corporation,” as used in this Article VIII and as defined in the Statute and incorporated by reference into the definitions of certain other capitalized terms used herein, shall mean this Corporation, including, without limitation, any successor corporation or entity to this corporation by way of merger, consolidation or acquisition of all or substantially all of the capital stock or assets of this Corporation.

(e)“Corporation Affiliate” shall include, without limitation, any corporation, partnership, limited liability company, joint venture, employee benefit plan, trust or other enterprise, whether domestic or foreign, that is an Affiliate (as defined in Section 3.2(c)(i) of these Bylaws) of the Corporation.

(f)“Director or Officer” shall have the meaning set forth in the Statute; provided, that, for purposes of this Article VIII, (i) “Director or Officer” shall include a director or officer of a Subsidiary (whether or not otherwise serving as a Director or Officer), (ii) the term “employee benefit plan” as used in Section 180.0850(2)(c) of the Statute shall include an employee benefit plan sponsored, maintained or contributed to by a Subsidiary and (iii) it shall be conclusively presumed that any Director or Officer serving as a director, officer, partner, member, trustee, member of any governing or decision-making committee, manager, employee or agent of a Corporation Affiliate shall be so serving at the request of the Corporation.

(g)“Disinterested Quorum” shall mean a quorum of the Board who are not Parties to the subject Proceeding or any related Proceeding.

(h)“Expenses” shall mean and include fees, costs, charges, disbursements, attorney fees and any other expenses incurred in connection with a Proceeding.

(i)“Independent Legal Counsel” shall mean a law firm, or a member of a law firm, or an independent practitioner that is experienced in matters of relevant corporation law and neither presently is, nor in the past three years has been, retained to represent (i) the Corporation or any Director or Officer in any matter material to such party (other than with respect to matters concerning the Director or Officer under this Article VIII), or (ii) any other party to the Proceeding giving rise to a claim for indemnification hereunder. Notwithstanding the foregoing, the term “Independent Legal Counsel” shall not include any person who, under the applicable standards of professional conduct then prevailing, would have a conflict of interest in representing either the Corporation or the Director or Officer in an action to determine the Director’s or Officer’s rights.

(j)“Liability” shall mean and include the obligation to pay a judgment, settlement, penalty, assessment, forfeiture or fine, including an excise tax assessed with respect to an employee benefit plan, and reasonable Expenses.

(k)“Party” shall have the meaning set forth in the Statute; provided, that, for purposes of this Article VIII, the term “Party” shall also include any Director or Officer or employee of the Corporation who is or was a witness in a Proceeding at a time when such person has not otherwise been formally named a Party thereto.

(l)“Proceeding” shall have the meaning set forth in the Statute; provided, that, in accordance with Section 180.0859 of the Statute and for purposes of this Article VIII, the term “Proceeding” shall include without limitation all Proceedings (i) brought under (in whole or in part) the Securities Act of 1933, as amended, the Exchange Act, their respective state counterparts, and/or any rule or regulation promulgated under any of the foregoing; (ii) brought before an Authority or otherwise to enforce rights hereunder; (iii) involving any appeal from a Proceeding; and (iv) in which the Director or Officer is a plaintiff or petitioner because such person is a Director or Officer; provided, however, that any such Proceeding under this subsection (iv) must be authorized by a majority vote of a Disinterested Quorum.

(m)“Statute” shall mean Sections 180.0850 through 180.0859, inclusive, of the Wisconsin Business Corporation Law, Chapter 180 of the Wisconsin Statutes, as the same shall then be in effect, including any amendments thereto, but, in the case of any such amendment, only to the extent such amendment permits or requires the Corporation to provide broader indemnification rights than the Statute permitted or required the Corporation to provide prior to such amendment.

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(n)“Subsidiary” shall mean any direct or indirect subsidiary of the Corporation as determined for financial reporting purposes, whether domestic or foreign.

Section 8.2    MANDATORY INDEMNIFICATION OF DIRECTORS AND OFFICERS. - To the fullest extent permitted or required by the Statute, the Corporation shall indemnify a Director or Officer against all Liabilities incurred by or on behalf of such Director or Officer in connection with a Proceeding in which the Director or Officer is a Party because such person is or was a Director or Officer.

Section 8.3    PROCEDURAL REQUIREMENTS.

(a)A Director or Officer who seeks indemnification under Section 8.2 shall make a written request therefor to the Corporation. Subject to Section 8.3(b), within sixty days of the Corporation’s receipt of such request, the Corporation shall pay or reimburse the Director or Officer for the entire amount of Liabilities incurred by the Director or Officer in connection with the subject Proceeding (net of any Expenses previously advanced pursuant to Section 8.5).

(b)No indemnification shall be required to be paid by the Corporation pursuant to Section 8.2 if, within such sixty-day period, (i) a Disinterested Quorum, by a majority vote thereof, determines that the Director or Officer requesting indemnification engaged in misconduct constituting a Breach of Duty or (ii) a Disinterested Quorum cannot be obtained.

(c)In case of nonpayment pursuant to Section 8.3(b), the Board shall immediately authorize by resolution that an Authority, as provided in Section 8.4, determine whether the Director’s or Officer’s conduct constituted a Breach of Duty and, therefore, whether indemnification should be denied hereunder.

(d)(i) If the Board does not authorize an Authority to determine the Director’s or Officer’s right to indemnification hereunder within such sixty-day period and/or (ii) if indemnification of the requested amount of Liabilities is paid by the Corporation, then it shall be conclusively presumed for all purposes that a Disinterested Quorum has affirmatively determined that the Director or Officer did not engage in misconduct constituting a Breach of Duty and, in the case of subsection (i) above (but not subsection (ii)), indemnification by the Corporation of the requested amount of Liabilities shall be paid to the Director or Officer immediately.

Section 8.4    DETERMINATION OF INDEMNIFICATION.

(a)If the Board authorizes an Authority to determine a Director’s or Officer’s right to indemnification pursuant to Section 8.3, then the Director or Officer requesting indemnification shall have the absolute discretionary authority to select one of the following as such Authority:

(i)    An Independent Legal Counsel mutually selected by such Director or Officer and by a majority vote of a Disinterested Quorum or, if a Disinterested Quorum cannot be obtained, then by a majority vote of the Board;

(ii)    A panel of three arbitrators selected from the panels of arbitrators of the American Arbitration Association in Wisconsin; provided, that (A) the first arbitrator shall be selected by such Director or Officer, the second arbitrator shall be selected by a majority vote of a Disinterested Quorum or, if a Disinterested Quorum cannot be obtained, then by a majority vote of the Board, and the third arbitrator shall be selected by the two previously selected arbitrators, and (B) in all other respects (other than this Article VIII), such panel shall be governed by the American Arbitration Association’s then existing Commercial Arbitration Rules; or

(iii)    A court pursuant to and in accordance with Sections 180.0854 and 180.0855 of the Statute.

(b)In any such determination by the selected Authority, there shall exist a rebuttable presumption that the Director’s or Officer’s conduct did not constitute a Breach of Duty and that indemnification against the requested amount of Liabilities is required. The burden of rebutting such a presumption by clear and convincing evidence shall be on the Corporation or such other party asserting that such indemnification should not be allowed.

(c)The Authority shall make its determination within sixty days of being selected and shall submit a written opinion of its conclusion simultaneously to both the Corporation and the Director or Officer. If the Authority shall not have made a determination within such sixty-day period, then it shall be conclusively presumed for all purposes that the Authority has determined that the Director or Officer has a right to

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indemnification pursuant to Section 8.3 and the Director or Officer shall be entitled to such indemnification, absent (1) a misstatement by the Director or Officer of a material fact, or an omission of a material fact necessary to make the Director’s or Officer’s statement not materially misleading, in connection with the request for indemnification, or (2) an express prohibition under applicable law against determining the Director’s or Officer’s entitlement to indemnification in this matter; provided, however, that such sixty-day period may be extended for a reasonable time, not to exceed an additional thirty days, if the person, persons or entity making the determination with respect to entitlement to indemnification in good faith requires such additional time for the obtaining or evaluating of documentation and/or information relating thereto.

(d)If the Authority determines (or is deemed to have determined) that indemnification is required hereunder, then the Corporation shall pay the entire requested amount of Liabilities (net of any Expenses previously advanced pursuant to Section 8.5), including interest thereon at a reasonable rate, as determined by the Authority, within ten days of receipt of the Authority’s opinion; provided, that, if it is determined by the Authority that a Director or Officer is entitled to indemnification against Liabilities’ incurred in connection with some claims, issues or matters, but not as to other claims, issues or matters, involved in the subject Proceeding, then the Corporation shall be required to pay (as set forth above) only the amount of such requested Liabilities as the Authority shall deem appropriate in light of all of the circumstances of such Proceeding.

(e)The determination by the Authority that indemnification is required hereunder shall be binding upon the Corporation, regardless of any prior determination that the Director or Officer engaged in a Breach of Duty.

(f)All Expenses incurred in the determination process under this Section 8.4 by either the Corporation or the Director or Officer, including, without limitation, all Expenses of the selected Authority, shall be paid by the Corporation.

Section 8.5    MANDATORY ALLOWANCE OF EXPENSES.

(a)The Corporation shall pay or reimburse from time to time or at any time, within ten days after the receipt of the Director’s or Officer’s written request therefor, the reasonable Expenses of the Director or Officer as such Expenses are incurred; provided, the following conditions are satisfied:

(i)The Director or Officer furnishes to the Corporation an executed written certificate affirming such person’s good faith belief that they have not engaged in misconduct which constitutes a Breach of Duty; and

(ii)The Director or Officer furnishes to the Corporation an unsecured executed written agreement to repay any advances made under this Section 8.5 if it is ultimately determined by an Authority that such person is not entitled to be indemnified by the Corporation for such Expenses pursuant to Section 8.4.

(b)If the Director or Officer must repay any previously advanced Expenses pursuant to this Section 8.5, then such Director or Officer shall not be required to pay interest on such amounts.

Section 8.6    INDEMNIFICATION AND ALLOWANCE OF EXPENSES OF CERTAIN OTHERS.

(a)The Board may, in its sole and absolute discretion as it deems appropriate, pursuant to a majority vote thereof, indemnify a director or officer of a Corporation Affiliate (who is not otherwise serving as a Director or Officer) against all Liabilities, and shall advance the reasonable Expenses, incurred by such director or officer in a Proceeding to the same extent hereunder as if such director or officer incurred such Liabilities because such person was a Director or Officer, if such director or officer is a Party thereto because such person is or was a director or officer of the Corporation Affiliate.

(b)The Corporation shall indemnify an employee who is not a Director or Officer, to the extent such person has been successful on the merits or otherwise in defense of a Proceeding, for all reasonable Expenses incurred in the Proceeding if the employee was a Party because such person was an employee of the Corporation.

(c)The Board may, in its sole and absolute discretion as it deems appropriate, pursuant to a majority vote thereof, indemnify (to the extent not otherwise provided in Section 8.6(b)) against Liabilities incurred by, and/or provide for the allowance of reasonable Expenses of, an employee or authorized agent of the Corporation acting within the scope of their duties as such and who is not a Director or Officer.

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Section 8.7    INSURANCE. - The Corporation may purchase and maintain insurance on behalf of a Director or Officer or any individual who is or was an employee or authorized agent of the Corporation against any Liability asserted against or incurred by such individual in their capacity as such or arising from their status as such, regardless of whether the Corporation is required or permitted to indemnify against any such Liability under this Article VIII.

Section 8.8    NOTICE TO THE CORPORATION. - A Director or Officer or an employee of the Corporation shall promptly notify the Corporation in writing when such person has actual knowledge of a Proceeding that may result in a claim of indemnification against Liabilities or allowance of Expenses hereunder, but the failure to do so shall not relieve the Corporation of any liability to the Director or Officer or employee hereunder unless the Corporation shall have been irreparably prejudiced by such failure (as determined, in the case of Directors or Officers only, by an Authority selected pursuant to Section 8.4(a)).

Section 8.9    SEVERABILITY. - If any provision of this Article VIII shall be deemed invalid or inoperative, or if a court of competent jurisdiction determines that any of the provisions of this Article VIII contravene public policy, then this Article VIII shall be construed so that the remaining provisions shall not be affected, but shall remain in full force and effect, and any such provisions which are invalid or inoperative or which contravene public policy shall be deemed, without further action or deed by or on behalf of the Corporation, to be modified, amended and/or limited, but only to the extent necessary to render the same valid and enforceable; it being understood that it is the Corporation’s intention to provide Directors and Officers with the broadest possible protection against personal liability allowable under the Statute.

Section 8.10    NONEXCLUSIVITY OF ARTICLE VIII. - The rights of a Director or Officer or an employee of the Corporation (or any other person) granted under this Article VIII shall not be deemed exclusive of any other rights to indemnification against Liabilities or allowance of Expenses which the Director or Officer or employee of the Corporation (or such other person) may be entitled to under any written agreement, Board resolution, vote of shareowners of the Corporation or otherwise, including, without limitation, under the Statute. Nothing contained in this Article VIII shall be deemed to limit the Corporation’s obligations to indemnify against Liabilities or allow Expenses to a Director or Officer or an employee of the Corporation under the Statute.

Section 8.11    CONTRACTUAL NATURE OF ARTICLE VIII; REPEAL OR LIMITATION OF RIGHTS. - This Article VIII shall be deemed to be a contract between the Corporation and each Director or Officer and employee of the Corporation and any repeal or other limitation of this Article VIII or any repeal or limitation of the Statute or any other applicable law shall not limit any rights of indemnification against Liabilities or allowance of Expenses then existing or arising out of events, acts or omissions occurring prior to such repeal or limitation, including, without limitation, the right to indemnification against Liabilities or allowance of Expenses for Proceedings commenced after such repeal or limitation to enforce this Article VIII with regard to acts, omissions or events arising prior to such repeal or limitation. If the Statute is amended to permit or require the Corporation to provide broader indemnification rights than this Article VIII permits or requires, then this Article VIII shall be automatically amended and deemed to incorporate such broader indemnification rights.

ARTICLE IX

MISCELLANEOUS

Section 9.1    FISCAL YEAR. - The fiscal year of the Corporation shall be the calendar year.

Section 9.2    DIVIDENDS. - Subject to the provisions of law or the Articles of Incorporation, the Board of Directors may, at any regular or special meeting, declare dividends upon the capital stock of the Corporation payable out of surplus (whether earned or paid-in) or profits as and when they deem expedient. Before declaring any dividend there may be set apart out of surplus or profits such sum or sums as the directors from time to time in their discretion deem proper for working capital or as a reserve fund to meet contingencies or for such other purposes as the directors shall deem conducive to the interests of the Corporation.

Section 9.3    CONTRACTS, CHECKS, DRAFTS, DEEDS, LEASES AND OTHER INSTRUMENTS. - All contracts, checks, drafts or other orders for the payment of money, notes or other evidences of indebtedness issued in the name of the Corporation, shall be signed by such officer or officers, or agent or agents of the Corporation and in such manner as shall from time to time be determined by resolution of the Board of Directors or corporate policy adopted by the Board of Directors. The Board may authorize by resolution or corporate policy adopted by the Board of Directors any officer or officers to enter into and execute any contract or instrument of indebtedness in the name of the Corporation, and such authority may be general or confined to specific instances. All funds of the Corporation not otherwise employed shall be deposited from time to time to the credit of the Corporation in such banks or other depositories as the Treasurer may authorize.

All contracts, deeds, mortgages, leases or instruments that require the corporate seal of the Corporation to be affixed thereto shall be signed by the President or a Vice President, and by the Corporate Secretary, or an

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Assistant Corporate Secretary, or by such other officer or officers, or person or persons, as the Board of Directors may by resolution or corporate policy adopted by the Board of Directors prescribe.

Section 9.4    VOTING OF SHARES OWNED BY THE CORPORATION. - Subject always to the specific directions of the Board of Directors, any share or shares of stock issued by any other corporation and owned or controlled by the Corporation may be voted at any shareowners’ meeting of such other corporation by the Chief Executive Officer of the Corporation, if present, or if absent by any other officer of the Corporation who may be present. Whenever, in the judgment of the Chief Executive Officer, or if absent, of any officer, it is desirable for the Corporation to execute a proxy or give a shareowners’ consent in respect to any share or shares of stock issued by any other corporation and owned by the Corporation, such proxy or consent shall be executed in the name of the Corporation by the Chief Executive Officer or one of the officers of the Corporation and shall be attested by the Corporate Secretary or an Assistant Corporate Secretary of the Corporation without necessity of any authorization by the Board of Directors. Any person or persons designated in the manner above stated as the proxy or proxies of the Corporation shall have full right, power and authority to vote the share or shares of stock issued by such other corporation and owned by the Corporation in the same manner as such share or shares might be voted by the Corporation.

Section 9.5    NOTICES. - Whenever any statute, the Articles of Incorporation or these Bylaws requires the Corporation to give notice to any shareowner or Director, such notice may be given in writing by mail or by “electronic transmission” (as defined in the Wisconsin Business Corporation Law). Written notice pursuant to the foregoing sentence shall be deemed to be effective (a) when mailed, if mailed postpaid and addressed to the shareowner’s address shown in the Corporation’s current record of shareowners or to the Director’s address that the Director has designated to the Corporate Secretary of the Corporation or (b) when electronically transmitted to the shareowner in a manner authorized by the shareowner or to the Director as the Director may have designated to the Corporate Secretary of the Corporation. Notice to Directors may also be given in person; by other method of delivery (meaning any method of delivery used in conventional commercial practice, including delivery by hand, commercial overnight delivery or private carrier); by telephone, including voice mail, answering machine or answering service; or by any other electronic means. Oral notice is effective when communicated. Other written notice is effective as follows: if delivered by hand or by private carrier, when received; if given by commercial overnight delivery, on the day the service undertakes to make delivery; and if given by facsimile, at the time transmitted to a facsimile number the recipient has provided.

ARTICLE X

AMENDMENT OR REPEAL OF BYLAWS

Section 10.1    AMENDMENTS BY BOARD OF DIRECTORS. - Except as otherwise provided by the Wisconsin Business Corporation Law or the Articles of Incorporation, these Bylaws may be amended or repealed and new Bylaws may be adopted by the Board of Directors by the affirmative vote of a majority of the number of directors present at any meeting at which a quorum is in attendance; provided, however, that the shareowners in adopting, amending or repealing a particular Bylaw may provide therein that the Board of Directors may not amend, repeal or readopt that Bylaw.

Section 10.2    IMPLIED AMENDMENT. - Any action taken or authorized by the shareowners or by the Board of Directors which would be inconsistent with the Bylaws then in effect but which is taken or authorized by affirmative vote of not less than the number of shares or the number of directors required to amend the Bylaws so that the Bylaws would be consistent with such action shall be given the same effect as though the Bylaws had been temporarily amended or suspended so far, but only so far, as is necessary to permit the specific action so taken or authorized.

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EX-3.2

Exhibit 3.2

AMENDED AND RESTATED BYLAWS

OF

ALLIANT ENERGY CORPORATION

Effective as of September 23November 8, 20212022

ARTICLE I

OFFICES

Section 1.1    PRINCIPAL AND BUSINESS OFFICES. - The Corporation may have such principal and other business offices, either within or without the State of Wisconsin, as the Board of Directors may designate or as the business of the Corporation may require from time to time.

Section 1.2    REGISTERED OFFICE. - The registered office of the Corporation required by the Wisconsin Business Corporation Law to be maintained in the State of Wisconsin may be, but need not be, identical with the principal office in the State of Wisconsin, and the address of the registered office may be changed from time to time by the Board of Directors or by the registered agent. The business office of the registered agent of the Corporation shall be identical to such registered office.

ARTICLE II

SEAL

Section 2.1    CORPORATE SEAL. - The corporate seal shall have inscribed thereon the name of the Corporation and the words “CORPORATE SEAL, WISCONSIN.” Said seal may be used by causing it or a facsimile thereof to be impressed or affixed or reproduced.

ARTICLE III

SHAREOWNERS

Section 3.1    ANNUAL MEETING. - The annual meeting of the shareowners (the "Annual Meeting") shall be held at such date and time as the Board of Directors may determine. In fixing a meeting date for any Annual Meeting, the Board of Directors may consider such factors as it deems relevant within the good faith exercise of its business judgment. At each Annual Meeting, the shareowners shall elect that number of directors equal to the number of directors in the class whose term expires at the time of such meeting. At any such Annual Meeting, only other business properly brought before the meeting in accordance with Section 3.14 of these Bylaws may be conducted. If the election of directors shall not be held on the date fixed as herein provided, for any Annual Meeting, or any adjournment thereof, the Board of Directors shall cause the election to be held at a special meeting of shareowners (a "Special Meeting") as soon thereafter as is practicable.

Section 3.2    SPECIAL MEETINGS. - A Special Meeting may be called only by (i) the Board of Directors or (ii) the Chief Executive Officer and shall be called by the Chief Executive Officer upon the demand, in accordance with this Section 3.2, of the holders of record of shares representing at least 10% of all the votes entitled to be cast on any issue proposed to be considered at the Special Meeting.

(a)In order that the Corporation may determine the shareowners entitled to demand a Special Meeting, the Board of Directors may fix a record date to determine the shareowners entitled to make such a demand (the "Demand Record Date"). The Demand Record Date shall not precede the date upon which the resolution fixing the Demand Record Date is adopted by the Board of Directors and shall not be more than ten days after the date upon which the resolution fixing the Demand Record Date is adopted by the Board of Directors. Any shareowner of record seeking to have shareowners demand a Special Meeting shall, by sending written notice to the Corporate Secretary of the Corporation by hand or by certified or registered mail, return receipt requested, request the Board of Directors to fix a Demand Record Date. The Board of Directors shall promptly, but in all events within ten days after the date on which a valid request to fix a Demand Record Date is received, adopt a resolution fixing the Demand Record Date and shall make a public announcement of such Demand Record Date. If no Demand Record Date has been fixed by the Board of Directors within ten days after the date on which such request is received by the Corporate Secretary, the Demand Record Date shall be the 10th day after the first date on which a valid written request to set a Demand Record Date is received by the Corporate Secretary. To be valid, such written request shall set forth the purpose or purposes for which the Special Meeting is to be held, shall be signed by one or more shareownerseach requesting shareowner of record (or their duly authorized proxies or other representatives), shall bear the date of signature of each such shareowner (or proxy or other representative) and shall set forth all information about each such shareowner and about the beneficial owner or owners, if any, on whose behalf the request is made that would be required to be set forth in a shareowner's notice described in paragraph (a) (ii) of Section 3.14 of these Bylaws.

(b)In order for a shareowner or shareowners to demand a Special Meeting, a written demand or demands for a Special Meeting by the holders of record as of the Demand Record Date of shares representing at least 10% of all the votes entitled to be cast on any issue proposed to be considered at the Special Meeting must be delivered to the Corporation. To be valid, each written demand by a shareowner for a

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Special Meeting shall set forth the specific purpose or purposes for which the Special Meeting is to be held (which purpose or purposes shall be limited to the purpose or purposes set forth in the written request to set a Demand Record Date received by the Corporation pursuant to paragraph (ba) of this Section 3.2), shall be signed by one or more personseach person who as of the Demand Record Date are shareowners of record (or their duly authorized proxies or other representatives), shall bear the date of signature of each such shareowner (or proxy or other representative), and shall set forth the name and address, as they appear in the Corporation's books, of each shareowner signing such demand and the class and number of shares of the Corporation which are owned of record and beneficially by each such shareowner, shall be sent to the Corporate Secretary by hand or by certified or registered mail, return receipt requested, and shall be received by the Corporate Secretary within seventy days after the Demand Record Date.

(c)The Corporation shall not be required to call a Special Meeting upon shareowner demand unless, in addition to the documents required by paragraph (b) of this Section 3.2, the Corporate Secretary receives a written agreement signed by each Soliciting Shareowner (as defined below), pursuant to which each Soliciting Shareowner, jointly and severally, agrees to pay the Corporation's costs of holding the Special Meeting, including the costs of preparing and mailing proxyProxy materials for the Corporation's own solicitation, provided that if each of the resolutions introduced by any Soliciting Shareowner at such meeting is adopted, and each of the individuals nominated by or on behalf of any Soliciting Shareowner for election as a director at such meeting is elected, then the Soliciting Shareowners shall not be required to pay such costs. For purposes of this paragraph (c), the following terms shall have the meanings set forth below:

(i)"Affiliate" of any Person (as defined herein) shall mean any Person controlling, controlled by or under common control with such first Person.

(ii)"Participant" shall have the meaning assigned to such term in Rule 14a-12 promulgated under the Securities Exchange Act of 1934, as amended (the "Exchange Act").

(iii)"Person" shall mean any individual, firm, corporation, partnership, joint venture, association, trust, unincorporated organization or other entity.

(iv)"Proxy" shall have the meaning assigned to such term in Rule 14a-1 promulgated under the Exchange Act.

(v)"Solicitation" shall have the meaning assigned to such term in Rule 14a-1 promulgated under the Exchange Act.

(vi)"Soliciting Shareowner" shall mean, with respect to any Special Meeting demanded by a shareowner or shareowners, any of the following Persons:

(A)    if the number of shareowners signing the demand or demands of meeting delivered to the Corporation pursuant to paragraph (b) of this Section 3.2 is ten or fewer, each shareowner signing any such demand;

(B)    if the number of shareowners signing the demand or demands of meeting delivered to the Corporation pursuant to paragraph (b) of this Section 3.2 is more than ten, each Person who either (I) was a Participant in any Solicitation of such demand or demands or (II) at the time of the delivery to the Corporation of the documents described in paragraph (b) of this Section 3.2 had engaged or intends to engage in any Solicitation of Proxies for use at such Special Meeting (other than a Solicitation of Proxies on behalf of the Corporation); or

(C)    any Affiliate of a Soliciting Shareowner, if a majority of the directors then in office determine, reasonably and in good faith, that such Affiliate should be required to sign the written notice described in paragraph (b) of this Section 3.2 and/or the written agreement described in this paragraph (c) in order to prevent the purposes of this Section 3.2 from being evaded.

(d)    Except as provided in the following sentence, any Special Meeting shall be held at such hour and day as may be designated by whichever of the Board of Directors or the Chief Executive Officer shall have called such meeting. In the case of any Special Meeting called by the Chief Executive Officer upon the demand of shareowners (a "Demand Special Meeting"), such meeting shall be held at such hour and day as may be designated by the Board of Directors; provided, however, that the date of any Demand Special Meeting shall be not more than seventy days after the Meeting Record Date (as defined in Section 3.6 hereof); and providedfurther that in the event that the directors then in office fail to designate an hour and date for a Demand Special Meeting within ten days after the date that valid written demands for such meeting by the holders of record as of the Demand Record Date of shares

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representing at least 10% of all the votes entitled to be cast on each issue proposed to be considered at the Special Meeting are delivered (as determined in according with paragraph (c) of this Section 3.2) to the Corporation (the "Delivery Date"), then such meeting shall be held at 2:00 P.M. local time on the 100th day after the Delivery Date or, if such 100th day is not a Business Day (as defined below), on the first preceding Business Day. In fixing a meeting date for any Special Meeting, the Board of Directors or the Chief Executive Officer may consider such factors as it or the Chief Executive Officer deems relevant within the good faith exercise of its or the Chief Executive Officer’s business judgment, including, without limitation, the nature of the action proposed to be taken, the facts and circumstances surrounding any demand for such meeting, and any plan of the Board of Directors to call an Annual Meeting or a Special Meeting for the conduct of related business.

(e)    The Corporation may engage regionally or nationally recognized independent inspectors of elections to act as an agent of the Corporation for the purpose of promptly performing a ministerial review of the validity of any purported written demand or demands for a Special Meeting received by the Corporate Secretary. For the purpose of permitting the inspectors to perform such review, no purported demand shall be deemed to have been delivered to the Corporation until the earlier of (i) five Business Days following receipt by the Corporate Secretary of such purported demand and (ii) such date as the independent inspectors certify to the Corporation that the valid demands received by the Corporate Secretary represent at least 10% of all the votes entitled to be cast on each issue proposed to be considered at the Special Meeting. Nothing contained in this paragraph (e) shall in any way be construed to suggest or imply that the Board of Directors or any shareowner shall not be entitled to contest the validity of any demand, whether during or after such five Business Day period, or to take any other action (including, without limitation, the commencement, prosecution or defense of any litigation with respect thereto).

(f)    For purposes of these Bylaws, "Business Day" shall mean any day other than a Saturday, a Sunday or a day on which banking institutions in the State of Wisconsin are authorized or obligated by law or executive order to close.

(g)    Compliance with the requirements of this Section 3.2(a), (b) and (c) shall be determined in good faith by the Board of Directors in its sole and absolute discretion, which determination shall be conclusive and binding on the Corporation and the shareowners.

Section 3.3    PLACE OF MEETING; USE OF REMOTE COMMUNICATIONS.

(a)    Subject to paragraph (b) below, the Board of Directors or the Chief Executive Officer may designate any place, either within or without the State of Wisconsin, as the place for any Annual Meeting or any Special Meeting, or for any postponement thereof, and if no designation is made, the place of meeting shall be the principal office of the Corporation. Any meeting may be adjourned to reconvene at any place designated by vote of the Board of Directors or determined by the Chief Executive Officer.

(b)    The Board of Directors, may, in its sole discretion, determine that any Annual Meeting or any Special Meeting shall not be held at any place, but may instead be held solely by means of remote communication. The Board of Directors may also determine, in its sole discretion, that shareowners and proxies of shareowners not physically present at the designated place of any Annual Meeting or any Special Meeting may participate in the meeting by means of remote communication.

Section 3.4    NOTICE OF MEETINGS - Written notice stating the date, time, place (if any) and the means of remote communications (if any) of any meeting of shareowners shall be delivered not less than ten days nor more than sixty days before the date of the meeting (unless a different time period is provided by the Wisconsin Business Corporation Law or the Articles of Incorporation), by or at the direction of the Chief Executive Officer or the Corporate Secretary, to each shareowner of record entitled to vote at such meeting (other than a shareowner that the Corporation is not required to give such notice to under the Wisconsin Business Corporation Law) and to such other persons as required by the Wisconsin Business Corporation Law. In the event of any Demand Special Meeting, such notice of meeting shall be sent not more than thirty days after the Delivery Date (as determined in accordance with Section 3.12(c) of these Bylaws). Unless otherwise required by the Wisconsin Business Corporation Law or the Articles of Incorporation, a notice of an Annual Meeting need not include a description of the purpose for which the meeting is called. In the case of any Special Meeting, (i) the notice of meeting shall describe any business that the Board of Directors shall have theretofore determined to bring before the meeting and (ii) in the case of a Demand Special Meeting, the notice of meeting (A) shall describe any business set forth in the statement of purpose of the demands received by the Corporation in accordance with Section 3.2 of these Bylaws and (B) shall contain all of the information required in the notice received by the Corporation in accordance with Section 3.14(b) of these Bylaws, to the extent permitted by law. If an Annual Meeting or Special Meeting is adjourned to a different date, time or place, or will be held by a new means of remote communication, the Corporation shall not be required to give notice of the new date, time, place or means of remote communication if the new date, time, place or means of remote communication is announced at the meeting before adjournment; provided, however, that if a new Meeting Record Date for an adjourned meeting is or must be fixed, the Corporation shall give notice of the adjourned meeting to persons who are shareowners as of the new Meeting Record Date.

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Section 3.5    WAIVER OF NOTICE - A shareowner may waive any notice required by the Wisconsin Business Corporation Law, the Articles of Incorporation or these Bylaws before or after the date and time stated in the notice. The waiver shall be in writing and signed by the shareowner entitled to the notice, contain the same information that would have been required in the notice under applicable provisions of the Wisconsin Business Corporation Law (except that the time and place of meeting need not be stated) and be delivered to the Corporation for inclusion in the corporate records. A shareowner's attendance at any Annual Meeting or Special Meeting, whether physical or remote, in person or by proxy, waives objection to all of the following: (a) lack of notice or defective notice of the meeting, unless the shareowner at the beginning of the meeting or promptly upon arrival objects to holding the meeting or transacting business at the meeting; and (b) consideration of a particular matter at the meeting that is not within the purpose described in the meeting notice, unless the shareowner objects to considering the matter when it is presented.

Section 3.6    FIXING OF RECORD DATE. - The Board of Directors may fix in advance a date not less than ten days and not more than seventy days prior to the date of an Annual Meeting or Special Meeting as the record date for the determination of shareowners entitled to notice of, or to vote at, such meeting (the "Meeting Record Date"). In the case of any Demand Special Meeting, (i) the Meeting Record Date shall be not later than the 30th day after the Delivery Date and (ii) if the Board of Directors fails to fix the Meeting Record Date within thirty days after the Delivery Date, then the close of business on such 30th day shall be the Meeting Record Date. The shareowners of record on the Meeting Record Date shall be the shareowners entitled to notice of and to vote at the meeting. Except as provided by the Wisconsin Business Corporation Law for a court-ordered adjournment, a determination of shareowners entitled to notice of and to vote at an Annual Meeting or Special Meeting is effective for any adjournment of such meeting unless the Board of Directors fixes a new Meeting Record Date, which it shall do if the meeting is adjourned to a date more than 120 days after the date fixed for the original meeting. The Board of Directors may also fix in advance a date as the record date for the purpose of determining shareowners entitled to take any other action or determining shareowners for any other purpose. Such record date shall be not more than seventy days prior to the date on which the particular action, requiring such determination of shareowners, is to be taken. The record date for determining shareowners entitled to a distribution (other than a distribution involving a purchase, redemption or other acquisition of the Corporation's shares) or a share dividend is the date on which the Board of Directors authorizes the distribution or share dividend, as the case may be, unless the Board of Directors fixes a different record date.

Section 3.7    SHAREOWNER LIST. - The– To the extent required by the Wisconsin Business Corporation Law, the Corporation shall have available, beginning two (2) business days after the notice of the meeting is given for which the list was prepared and continuing to the date of the meeting, a complete record of each shareowner entitled to vote at such meeting, or any adjournment thereof, showing the address of and number of shares held by each shareowner. TheTo the extent required by the Wisconsin Business Corporation Law, the shareowner list shall be available for inspection by any shareowner during normal business hours at the Corporation’s principal office or at a place identified in the meeting notice in the city where the meeting will be held, or on a reasonably accessible electronic network if the information required to gain access to the list is provided with the notice of the meeting. The Corporation shall, to the extent required by the Wisconsin Business Corporation Law, make the shareowners’ list available at the meeting and any shareowner or a designated agent or attorney may inspect the list at any time during the meeting or any adjournment thereof. If the meeting is held solely by means of remote communication, theany required list shall be open to examination of any shareowner during the entire time of the meeting on a reasonably accessible electronic network, and information required to access the list shall be provided with the notice of the meeting.

Section 3.8    QUORUM AND VOTING REQUIREMENTS.

(a)Shares entitled to vote as a separate voting group may take action on a matter at any Annual Meeting or Special Meeting only if a quorum of those shares exists with respect to that matter. If the Corporation has only one class of stock outstanding, such class shall constitute a separate voting group for purposes of this Section 3.8. Except as otherwise provided in the Articles of Incorporation or the Wisconsin Business Corporation Law, a majority of the votes entitled to be cast on the matter shall constitute a quorum of the voting group for action on that matter. Once a share is represented for any purpose at any Annual Meeting or Special Meeting, other than for the purpose of objecting to holding the meeting or transacting business at the meeting, it is considered present for purposes of determining whether a quorum exists for the remainder of the meeting and for any adjournment of that meeting unless a new Meeting Record Date is or must be set for the adjourned meeting. If a quorum exists, action on a matter shall be approved if the votes cast within the voting group favoring the action exceed the votes cast opposing the action, unless the Articles of Incorporation or the Wisconsin Business Corporation Law requires a greater number of affirmative votes.

(b)At any Annual Meeting or Special Meeting for the election of Directors at which a quorum is present, in a non-contested election, Directors shall be elected by a majority of the votes cast by the shares entitled to vote in the election of Directors with respect to that Director’s election. For purposes of this Section 3.8(b), a majority of votes cast shall mean that the number of votes cast “for” a Director’s election exceeds the number of votes cast “against” with respect to that Director’s election. Abstentions and broker non-votes will not be counted as votes cast with respect to that Director’s election.

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At any Annual Meeting or Special Meeting for the election of Directors at which a quorum is present, in a contested election, Directors shall be elected by a plurality of the votes cast by the shares entitled to vote in the election of Directors. An election shall be considered contested if, as of the last day on which a shareowner may propose the nomination of a Director for election pursuant to these Bylaws, there are more nominees than positions on the Board of Directors to be filled by election at the Annual Meeting or Special Meeting.

In the event that an incumbent Director fails to receive a majority of the votes cast in a non-contested election, such Director shall tender a resignation to the Chair of the Board promptly following final certification of the shareowner vote. The Nominating and Governance Committee shall consider such resignation and make a recommendation to the Board as to whether to accept or reject the tendered resignation, or whether other action should be taken. The Board shall act onconsider whether to accept or reject the tendered resignation, taking into account the Nominating and Governance Committee’s recommendation and all other factors deemed relevant, and publicly disclose (by a press release, a filing with the SEC or other broadly disseminated means of communication) its decision regarding the tendered resignation within 90 days from the date of final certification of the shareowner vote. The Director who has tendered a resignation pursuant to this provision shall not participate in the Nominating and Governance Committee’s or the Board’s deliberations or decision with respect to thesuch Director’s tendered resignation.

(c)The Board of Directors acting by resolution may postpone and reschedule any previously scheduled Annual Meeting or Special Meeting; provided, however, that a Demand Special Meeting shall not be postponed or rescheduled beyond the 100th day following the Delivery Date. Any Annual Meeting or Special Meeting may be adjourned from time to time, whether or not there is a quorum, (i) at any time, upon a resolution by shareowners if the votes cast in favor of such resolution by the holders of shares of each voting group entitled to vote on any matter theretofore properly brought before the meeting exceed the number of votes cast against such resolution by the holders of shares of each such voting group or (ii) at any time prior to the transaction of any business at such meeting, by the Chairchair of the meeting or pursuant to a resolution of the Board of Directors. No notice of the time, place or means of remote communication of adjourned meetings need be given except as required by the Wisconsin Business Corporation Law. At any adjourned meeting at which a quorum shall be present or represented, any business may be transacted which might have been transacted at the meeting as originally notified.

Section 3.9    CONDUCT OF MEETING. - The Chair of the Board shall preside at each meeting of shareowners. In the absence of the Chair of the Board, such persons, in the following order, shall act as chair of the meeting: the Chief Executive Officer, the President, any Vice President, and the Director in attendance with the longest tenure in that office. The Corporate Secretary of the Corporation or, if such person is absent, an Assistant Corporate Secretary of the Corporation or other person appointed by the chair of the meeting shall act as secretary of each shareowner meeting. The Board of Directors may, to the extent not prohibited by law, adopt by resolution such rules and regulations for the conduct of an Annual Meeting or Special Meeting as it shall deem appropriate. Except to the extent inconsistent with such rules and regulations as adopted by the Board of Directors, the chair of the meeting shall have the right and authority to prescribe such rules, regulations or procedures and to do such acts as, in the judgment of the chair of the meeting, are appropriate for the proper conduct of an Annual Meeting or Special Meeting. Such rules, regulations or procedures, whether adopted by the Board of Directors or prescribed by the chair of the meeting, may to the extent not prohibited by law include, without limitation, the following: (a) the establishment of an agenda or order of business for the meeting and time of adjournment of the meeting; (b) rules and procedures for maintaining order at the meeting and the safety of those present; (c) limitations on attendance at or participation in the meeting to shareowners of record of the corporation, their duly authorized and constituted proxies (which shall be reasonable in number) or such other persons as the chair of the meeting shall determine; (d) restrictions on entry to the meeting after the time fixed for the commencement thereof; (e) limitations on the time allotted to questions or comments by participants; (f) rules and procedures regarding the execution of election ballots before or after the time fixed for the commencement of the meeting; (g) the appointment of an inspector of election or an officer or agent of the corporationCorporation authorized to tabulate votes; and (h) rules and procedures to facilitate the conduct of, and participation in, the meeting by electronic means. The chair of the meeting shall determine and announce at the meeting the time at which the polls will close for each matter voted up at the meeting. Determinations by the chair of the meeting related to enforcement of rules, regulations or procedures shall be conclusive and binding on the Corporation and the shareowners.

Section 3.10    PROXIES. – At any Annual Meeting or Special Meeting, a shareowner entitled to vote may vote their shares in person or by proxy. A shareowner entitled to vote at an Annual Meeting or Special Meeting may authorize another person to act for the shareowner by appointing the person as proxy. Without limiting the manner in which a shareowner may appoint a proxy, a shareowner or the shareowner’s authorized officer, director, employee, agent or attorney-in-fact may use any of the following as a valid means to make such an appointment:

(a)    Appointment of a proxy in writing by signing or causing the shareowner’s signature to be affixed to an appointment form by any reasonable means, including, but not limited to, by facsimile signature.

(b)    Appointment of a proxy by transmitting or authorizing the transmission of an electronic transmission of the appointment to the person who will be appointed as proxy or to a proxy solicitation firm, proxy support service organization or like agent authorized to receive the transmission by the person who will be appointed as proxy. Every electronic transmission shall contain, or be accompanied by, information that can be used to reasonably determine that the shareowner transmitted or authorized the

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transmission of the electronic transmission. Any person charged with determining whether a shareowner transmitted or authorized the transmission of the electronic transmission shall specify the information upon which the determination is made.

An appointment of a proxy is effective when a signed appointment form or an electronic transmission of the appointment is received by the inspector of election or the officer or agent of the Corporation authorized to tabulate votes. An appointment is valid for eleven months unless a different period is expressly provided in the appointment. Unless otherwise provided, a proxy may be revoked any time before it is voted, either by appointing a new proxy in accordance with the Wisconsin Business Corporation Law or by oral notice given by the shareowner to the presiding officer during the meeting. The presence of a shareowner who has made an effective proxy appointment shall not itself constitute a revocation. The Board of Directors shall have the power and authority to make rules establishing presumptions as to the validity and sufficiency of proxies.

Section 3.11    VOTING OF SHARES. - Except as provided in the Articles of Incorporation or statute, each outstanding share entitled to vote shall be entitled to one (1) vote upon each matter submitted to a vote at a meeting of shareowners.

Section 3.12    VOTING OF SHARES BY CERTAIN HOLDERS. - Shares standing in the name of another corporation may be voted by such officer, agent or proxy as the Bylaws of such corporation may prescribe, or, in the absence of such provision, as the Board of Directors of such corporation may determine.

Shares held by an administrator, executor, guardian or conservator may be voted by such person, either in person or by proxy, without a transfer of such shares into that person’s name. Shares standing in the name of a trustee may be voted by such trustee, either in person or by proxy, without a transfer of such shares into the trustee’s name. The Corporation may request evidence of such fiduciary status with respect to the vote, consent, waiver, or proxy appointment.

Shares standing in the name of a receiver or trustee in bankruptcy may be voted by such receiver or trustee, and shares held by or under the control of a receiver may be voted by such receiver without the transfer of the shares into such person’s name if authority so to do is contained in an appropriate order of the court by which such receiver was appointed.

A pledgee, beneficial owner, or attorney-in-fact of the shares held in the name of a shareowner shall be entitled to vote such shares. The Corporation may request evidence of such signatory’s authority to sign for the shareowner with respect to the vote, consent, waiver, or proxy appointment.

Neither treasury shares nor shares held by another corporation, if a majority of the shares entitled to vote for the election of Directors of such other corporation is held by the Corporation, shall be voted at any meeting or counted in determining the total number of outstanding shares at any given time.

Section 3.13    ACTION WITHOUT MEETING. - Any action required or permitted by the Articles of Incorporation or these Bylaws or any provision of the Wisconsin Business Corporation Law to be taken at an Annual Meeting or Special Meeting may be taken without a meeting if a written consent or consents, describing the action so taken, is signed by all of the shareowners entitled to vote with respect to the subject matter thereof and delivered to the Corporation for inclusion in the corporate records.

Section 3.14    NOTICE OF SHAREOWNER BUSINESS AND NOMINATION OF DIRECTORS.

(a)    Annual Meetings.

(i)    Nominations of persons for election to the Board of Directors of the Corporation and the proposal of business to be considered by the shareowners may be made at an Annual Meeting (A) pursuant to the Corporation’s notice of meeting, (B) by or at the direction of the Board of Directors or (C) by any shareowner of the Corporation who is a shareowner of record at the time of giving of notice provided for in this Bylaw and who is entitled to vote at the meeting and complies with the notice procedures set forth in this Section 3.14.

(ii)    For nominations or other business to be properly brought before an Annual Meeting by a shareowner pursuant to paragraph (C) of paragraph (a)(i) of this Section 3.14, the shareowner must have given timely notice thereof in writing to the Corporate Secretary of the Corporation. To be timely, a shareowner'’s notice shall be received bydelivered to the Corporate Secretary of the Corporation at the principal executive offices of the Corporation not earlier than the close of business on the 120th day and not later than the earlierclose of (A) 45 days in advance ofbusiness on the 90th day prior to the first annual anniversary (the “Anniversary Date”) of theof the preceding year’s annual meeting; provided, however, that if the date of the annual meeting for the current year (the “Current Year Meeting”) is more than 30 days before or more than 60 days after such anniversary date set forth in, notice by the Corporation’s proxy statement for the prior year’s Annualshareholder to be

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timely must be so delivered not earlier than the close of business on the 120th day prior to the date of the Current Year Meeting asand not later than the dateclose of business on which the Corporation first mailed definitive proxy materials for the prior year’s Annual Meeting and (B) the later of (x) the 7090th day prior to the Current Year Meeting or, if the first public announcement of the date of the Current Year Meeting is less than 100 days prior to such Annualthe date of the Current Year Meeting and (y), the 10th day following the day on which public announcement of the date of such meetingthe Current Year Meeting is first made by the Corporation. Such shareowner's notice shall be signed by the shareowner of record who intends to make the nomination or introduce the other business (or its duly authorized proxy or other representative), shall bear the date of signature of such shareowner (or proxy or other representative) and shall set forth: (A) the name and address, as they appear on this Corporation's books, of such shareowner and the beneficial owner or owners, if any, on whose behalf the nomination or proposal is made and the Affiliates and Associates (as defined within the meaning of Rule 12b-2 under the Exchange Act and the rules and regulations promulgated thereunder) of such shareowner and the beneficial owner or owners; (B) the class and number of shares of the Corporation which are beneficially owned by such shareowner or beneficial owner or owners and their respective Affiliates and Associates; (C) a representation that such shareowner is a holder of record of shares of the Corporation entitled to vote at such meeting and intends to appear in person or by proxy at the meeting to make the nomination or introduce the other business specified in the notice; (D) a description of the class or series, if any, and number of options, warrants, puts, calls, convertible securities, stock appreciation rights, or similar rights, obligations or commitments with an exercise or conversion privilege or a settlement payment or mechanism at a price related to any class or series of shares or other securities of the Corporation or with a value derived in whole or in part from the value of any class or series of shares or other securities of the Corporation, whether or not such instrument, right, obligation or commitment shall be subject to settlement in the underlying class or series of shares or other securities of the Corporation (each a “Derivative Security”), which are, directly or indirectly, beneficially owned by such shareowner or beneficial owner or owners and their respective Affiliates and Associates, if any, and any other direct or indirect opportunity to profit or share in any profit derived from any increase or decrease in the value of shares or other securities of the Corporation; (E) a description of any proxy, contract, arrangement, understanding or relationship pursuant to which the shareowner or beneficial owner, or any of their respective Affiliates and Associates, has a right to vote any shares or other securities of the Corporation; (F) a description of any contract, agreement, arrangement, understanding or relationship including any repurchase or similar so called “stock borrowing” agreement or arrangement, the purpose or effect of which is to mitigate loss, reduce economic risk or increase or decrease voting power with respect to any capital stock of the Corporation or which provides any party, directly or indirectly, the opportunity to profit from any decrease in the price or value of the capital stock of the Corporation; (G) a description of the terms of any number of shares subject to any short interest in any securities of the Corporation in which the shareowner or beneficial owner or any of their respective Affiliates and Associates has an interest (for purposes of these Bylaws a person shall be deemed to have a short interest in a security if such shareowner or beneficial owner, directly or indirectly, through any contract, arrangement, understanding, relationship or otherwise, has the opportunity to profit or share in any profit derived from any decrease in the value of the subject security); (H) any rights to dividends on the shares of the Corporation owned beneficially by such shareowner and such beneficial owner, and any of their respective Affiliates or Associates, if any, that are separated or separable from the underlying shares of the Corporation; (I) a description of any proxy, contract, agreement, arrangement, understanding or relationship with respect to the nomination or other business between or among a shareowner or beneficial owner and any other person, including without limitation any agreements that would be required to be disclosed pursuant to Item 5 or Item 6 of Schedule 13D (regardless of whether the requirement to file a Schedule 13D is applicable); (J) a description of any proportionate interest in shares or other securities of the Corporation or Derivative Securities held, directly or indirectly, by a general or limited partnership, limited liability company or similar entity in which any such shareowner is (I) a general partner or, directly or indirectly, beneficially owns an interest in a general partner of such general or limited partnership, or (II) the manager, managing member or, directly or indirectly, beneficially owns an interest in the manager or managing member of such limited liability company or similar entity; (K) a description of the terms of and number of shares subject to any performance-related fees (other than an asset-based fee) that such shareowner or beneficial owner or their respective Affiliates or Associates is directly or indirectly entitled to based on any increase or decrease in the value of shares or other securities of the Corporation or Derivative Securities, if any, as of the date of the notice, including, without limitation, any such interests held by members of any such shareowner’s or beneficial owner’s immediate family sharing the same household; (L) in the case of any proposed nomination for election or re-election as a director, (I) the name and residence address of the person or persons to be nominated, (II) a description of all arrangements or understandings between such shareowner or beneficial owner or owners, and any of their respective Affiliates or Associates, and each nominee and any other person or persons

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(naming such person or persons) pursuant to which the nomination is to be made by such shareowner, (III) a representation and agreement that such nominee (a) is not and will not become a party to (x) any agreement, arrangement or understanding with, and has not given any commitment or assurance to, any person or entity as to how such person, if elected as a director of the Corporation, will act, in his or her capacity as a director of the Corporation, or vote on any issue or question in his or her capacity as a director of the Corporation (a “Voting Commitment”) that has not been disclosed to the Corporation, or (y) any Voting Commitment that could limit or interfere with such person’s ability to comply, if elected as a director of the Corporation, with such person’s fiduciary duties under applicable law, (b) is not and will not become a party to any agreement, arrangement or understanding with any person or entity other than the Corporation with respect to any direct or indirect compensation, reimbursement or indemnification in connection with service or action as a director that has not been disclosed to the Corporation, and (c) in such person’s individual capacity and on behalf of any person or entity on whose behalf the nomination is being made, would be in compliance, if elected as a director of the Corporation, and will comply with all applicable publicly disclosed corporate governance, ethics, conflict of interest, confidentiality and stock ownership and trading policies and guidelines of the Corporation, including codes of conduct,(IV) such other information regarding each nominee proposed by such shareowner as would be required to be disclosed in solicitations of proxies for elections of directors, or would be otherwise required to be disclosed, in each case pursuant to Regulation 14A under the Exchange Act, including any information that would be required to be included in a proxy statement filed pursuant to Regulation 14A had the nominee been nominated by the Board of Directors and, (IVV) the written consent of each nominee to be named in a proxy statement and to serve as a director of the Corporation if so elected;, (VI) a representation as to whether or not the shareowner or beneficial owner intends to solicit proxies in support of director nominees other than the Corporation’s nominees in accordance with Rule 14a-19 promulgated under the Exchange Act and, if so, such other information and statements as are required to be included in a notice provided to the Corporation pursuant to Rule 14a-19 under the Exchange Act, and (VII) a questionnaire, representation and agreement to furnish such information as may reasonably be required by the Corporation to determine the eligibility of such nominee to serve as an independent director of the Corporation, or that could be material to a reasonable shareowner’s understanding of the independence and other qualifications, or lack thereof, of such nominee, that has been completed and signed by both such shareowner (as well as the beneficial owner or owners, if any, on whose behalf the nomination is made) and such nominee (such form of questionnaire, representation and agreement to be made available following a written request by the shareowner and nominee delivered to the Corporate Secretary of the Corporation at the principal executive offices of the Corporation) and (EM) in the case of any other business that such shareowner proposes to bring before the meeting, (I) a brief description of the business desired to be brought before the meeting and, if such business includes a proposal to amend these Bylaws, the language of the proposed amendment, (II) such shareowner's and beneficial owner's or owners' reasons for conducting such business at the meeting and (III) any material interest in such business of such shareowner and beneficial owner or owners.

(iii)    Notwithstanding anything in the second sentence of paragraph (a)(ii) of this Section 3.14 to the contrary, in the event that the number of directors to be elected to the Board of Directors of the Corporation is increased and there is no public announcement naming all of the nominees for director or specifying the size of the increased Board of Directors made by the Corporation at least 45100 days prior to the Anniversary Datedate of the Current Year Meeting, a shareowner's notice required by this Section 3.14 shall also be considered timely, but only with respect to nominees for any new positions created by such increase, if it shall be received by the Corporate Secretary at the principal offices of the Corporation not later than the close of business on the 10th day following the day on which such public announcement is first made by the Corporation.

(b)    Special Meetings. Only such business shall be conducted at a Special Meeting as shall have been described in the notice of meeting sent to shareowners pursuant to Section 3.4 of these Bylaws. Nominations of persons for election to the Board of Directors may be made at a Special Meeting at which directors are to be elected pursuant to such notice of meeting (i) by or at the direction of the Board of Directors or (ii) by any shareowner of the Corporation who (A) is a shareowner of record at the time of giving of such notice of meeting, (B) is entitled to vote at the meeting and (C) complies with the notice procedures set forth in this Section 3.14. Any shareowner desiring to nominate persons for election to the Board of Directors at such a Special Meeting shall cause a written notice to be received by the Corporate Secretary of the Corporation at the principal offices of the Corporation not earlier than ninety days prior to such Special Meeting and not later than the close of business on the later of (x) the 60th day prior to such Special Meeting and (y) the 10th day following the day on which public announcement is first made of the date of such Special Meeting and of the nominees proposed by the Board of Directors to be elected at such meeting. Such written notice shall be signed by the shareowner of record who intends to make the nomination (or its duly authorized proxy or other

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representative), shall bear the date of signature of such shareowner (or its duly authorized proxy or other representative) and shall set forth: (A) the name and address, as they appear on the Corporation's books, of such shareowner and the beneficial owner or owners, if any, on whose behalf the nomination is made; (B) the class and number of shares of the Corporation which are beneficially owned by such shareowner or beneficial owner or owners; (C) a representation that such shareowner is a holder of record of shares of the Corporation entitled to vote at such meeting and intends to appear in person or by proxy at the meeting to make the nomination specified in the notice; (D) the name and residence address of the person or persons to be nominated; (E) a description of all arrangements or understandings between such shareowner or beneficial owner or owners and each nominee and any other person or persons (naming such person or persons) pursuant to which the nomination is to be made by such shareowner; (F) such otherapplicable information regarding each nominee proposed by such shareowner as would be required to be disclosed in solicitations of proxies for elections of directors, or would be otherwise required to be disclosed, in each case pursuant to Regulation 14A under the Exchange Act, including any information that would be required to be included in a proxy statement filed pursuant to Regulation 14A had the nominee been nominated by the Board of Directors; and (G) the written consent of each nominee to be named in a proxy statement and to serve as a director of the Corporation if so electedrequired under Section 3.14(a)(ii) of these Bylaws.

(c)    General.

(i)    Only persons who are nominated in accordance with the procedures set forth in this Section 3.14 shall be eligible to serve as directors and in no event shall alternate directors be permitted to be nominated after the period for timely notice expires. Only such business shall be conducted at an Annual Meeting or Special Meeting as shall have been brought before such meeting in accordance with the procedures set forth in this Section 3.14. The chair of the meeting shall have the power and duty to determine whether a nomination or any business proposed to be brought before the meeting was made in accordance with the procedures set forth in this Section 3.14 and, if any proposed nomination or business is not in compliance with this Section 3.14, to declare that such defective proposal shall be disregarded.

(ii)    For purposes of this Section 3.14, "public announcement" shall mean disclosure in a press release reported by the Dow Jones News Service, Associated Press or comparable national news service or in a document publicly filed by the Corporation with the Securities and Exchange Commission pursuant to Section 13, 14 or 15(d) of the Exchange Act.

(iii)    Notwithstanding the foregoing provisions of this Section 3.14, unless otherwise required by law, if any shareowner or beneficial owner (A) provides notice pursuant to Rule 14a-19(b) promulgated under the Exchange Act in accordance with the notice provisions contained in Sections 3.14(a) or 3.14(b) of these Bylaws, and (B) subsequently fails to comply with the requirements of Rule 14a-19(a)(2) and Rule 14a-19(a)(3) promulgated under the Exchange Act, then the Corporation shall disregard any proxies or votes solicited for such shareowner’s or beneficial owner’s proposed nominees. Upon request by the Corporation, if any shareowner or beneficial owner provides notice to the Corporation that it intends to solicit proxies in support of director nominees other than the Corporation’s nominees in accordance with Rule 14a-19(b) promulgated under the Exchange Act, such shareowner or beneficial owner shall deliver to the Corporation, no later than five (5) Business Days prior to the applicable meeting, reasonable evidence that it has met the requirements of Rule 14a-19(a)(3) promulgated under the Exchange Act.

(iv)    (iii) Notwithstanding the foregoing provisions of this Section 3.14, a shareowner shall also comply with all applicable requirements of the Exchange Act and the rules and regulations thereunder with respect to the matters set forth in this Section 3.14. Nothing in this Section 3.14 shall be deemed to limit the Corporation's obligation to include shareowner proposals in its proxy statement if such inclusion is required by Rule 14a-8 under the Exchange Act.

(v)    Compliance with the requirements of this Section 3.14 shall be determined in good faith by the Board of Directors in its sole and absolute discretion, which determination shall be conclusive and binding on the Corporation and the shareowners.

ARTICLE IV

BOARD OF DIRECTORS

Section 4.1    GENERAL POWER. - The business and affairs of the Corporation shall be managed under the direction of the Board of Directors.

Section 4.2    NUMBER, CLASSES & TERM. - The number of Directors of the Corporation shall be fixed from time to time exclusively by the Board of Directors pursuant to a resolution adopted by the affirmative vote

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of a majority of the total number of Directors that the Corporation would have if there were no vacancies, but shall not be less than seven (7) nor more than sixteen (16). The Directors of the Corporation shall be divided, with respect to the time for which they severally hold office, into three classes, as nearly equal in number as possible. At each Annual Meeting, the successors to the class of Directors whose terms shall expire at the time of such Annual Meeting shall be elected to hold office until the third succeeding Annual Meeting, and until their successors are duly elected and qualified.

Section 4.3    CHAIR OF THE BOARD. - The Board of Directors may designate one of the Directors to act as Chair of the Board of Directors. The Chair of the Board of Directors if not designated as the Chief Executive Officer of the Corporation shall assist the Board in the formulation of policies and may make recommendations therefore. Information as to the affairs of the Corporation in addition to that contained in the regular reports shall be furnished on request by and to the Chair. The Chair may make suggestions and recommendations to the Chief Executive Officer regarding any matters relating to the affairs of the Corporation and shall be available for consultation and advice.

Section 4.4    QUALIFICATIONS AND REMOVAL. - No person shall be eligible for election or re-election to the Board of Directors after having attained seventy (70) years of age. After attaining the age of seventy (70), a current member of the Board of Directors may continue to serve the remainder of the term that the member is currently serving. In the event the Chief Executive Officer resigns or retires from office or employment with the Corporation, the Chief Executive Officer shall simultaneously submit a resignation from the Board of Directors. In the event that the Chief Executive Officer is removed from such position by the Board of Directors, or is involuntarily terminated from employment with the Corporation, that person shall simultaneously submit a resignation from the Board of Directors. Any Director who changes an employer or otherwise has a significant change in job responsibilities shall give notice orally or in writing to the Board of Directors, specifying the details, as soon as feasible and shall submit to the Board of Directors an offer to tender a resignation from the Board of Directors and from each Board Committee on which such Director serves. The Nominating and Governance Committee (or any other Committee of the Board of Directors performing similar functions) shall recommend to the Board of Directors whether the Board should accept or reject such offer to tender resignation. An affirmative vote of the remaining Directors holding office of the Board of Directors is required to affirm such recommendation. A resignation under this Section 4.4 may be tendered by any Director orally or in writing at any meeting of the shareowners or of the Board of Directors, who shall at such meeting accept or reject the same.

Section 4.5    REGULAR MEETINGS. - Regular meetings of the Board of Directors shall be held at such time and place as may be determined by the Board of Directors, but in no event shall the Board meet less than once a year.

Section 4.6    SPECIAL MEETINGS. - Special meetings of the Board of Directors may be called by or at the request of the Chair of the Board, the Chief Executive Officer or any two (2) Directors. The Chief Executive Officer or Corporate Secretary may fix any place, either within or without the State of Wisconsin, whether in person or by telecommunications, as the place for holding any special meeting.

Section 4.7    NOTICE; WAIVER. - Notice of any meeting of the Board of Directors, unless otherwise provided pursuant to Section 4.5, shall be given at least forty-eight (48) hours prior to the meeting by notice to each Director. The notice need not describe the purpose of the meeting of the Board of Directors or the business to be transacted at such meeting. Any Director may waive notice of any meeting. The attendance of a Director at a meeting shall constitute a waiver of notice of such meeting, except where a Director attends a meeting for the express purpose of objecting to the transaction of business because the meeting is not lawfully called or convened.

Section 4.8    QUORUM. - A majority of the Board of Directors shall constitute a quorum for the transaction of business at any meeting of the Board of Directors, but if less than such majority is present at a meeting, a majority of the Directors present may adjourn the meeting to some other day without further notice.

Section 4.9    MEETING PARTICIPATION.

(a)    Any or all members of the Board of Directors, or any committee thereof, may participate in a regular or special meeting by, or to conduct the meeting through, the use of any means of communication by which any of the following occurs:

(i)    All participating directors may simultaneously hear each other during the meeting.

(ii)    All communication during the meeting is immediately transmitted to each participating director, and each participating director is able to immediately send messages to all other participating directors.

(b)    If a meeting is conducted by the means of communication described herein, all participating directors shall be informed that a meeting is taking place at which official business may be transacted.

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(c)    A director participating in a meeting by means of such communication is deemed to be present in person at the meeting.

Section 4.10    ACTION WITHOUT MEETING. - Any action required or permitted to be taken at any meeting of the Directors of the Corporation or of any Committee of the Board may be taken without a meeting if a consent in writing setting forth the action so taken shall be “signed” (as such term is defined in the Wisconsin Business Corporation Law) by all of the Directors or all of the members of the Committee of the Board, as the case may be. Such consent shall have the same force and effect as a unanimous vote at a meeting and shall be filed with the Corporate Secretary of the Corporation to be included in the official records of the Corporation. The action taken is effective when the last Director signs the consent unless the consent specifies a different effective date.

Section 4.11    PRESUMPTION OF ASSENT. - A Director of the Corporation who is present at a meeting of the Board of Directors at which action on any corporate matter is taken shall be presumed to have assented to the action taken unless (a) the Director objects at the beginning of the meeting or promptly upon arrival to the holding of or transacting business at the meeting, (b) the Director’s dissent or abstention shall be entered in the minutes of the meeting, (c) the Director shall file a written dissent or abstention to such action with the presiding officer of the meeting before the adjournment thereof or shall forward such dissent or abstention by registered or certified mail to the Corporate Secretary of the Corporation immediately after the adjournment of the meeting, or (d) the Director shall file a written notice to the Corporate Secretary of the Corporation promptly after receiving the minutes of the meeting that the minutes failed to show the Director’s dissention or abstention from the action taken. Such right to dissent or abstain shall not apply to a Director who voted in favor of such action.

Section 4.12    VACANCIES. - Except as provided below, any vacancy occurring in the Board of Directors or on any Committee of the Board of Directors and any directorship to be filled by reason of an increase in the number of Directors may be filled by the affirmative vote of a majority of the Directors then in office, even if less than a quorum of the Board of Directors. The Director or Directors so chosen shall hold office until the next election of the Class for which such Director or Directors shall have been chosen and until their successors shall have been duly elected and qualified.

Section 4.13    COMPENSATION. –- Non-management Directors, the Chair of the Board if non-management, the Lead Independent Director and Board Committee Chairs shall receive reasonable compensation for their services, consistent with the market practices of other similarly situated companies. Directors who are employees of the Corporation shall receive no fees for serving as Directors. Board compensation will be determined by the Nominating and Corporate Governance Committee with discussion and concurrence by the Board of Directors.

ARTICLE V

COMMITTEES

Section 5.1    COMMITTEES. –- The Board of Directors, by resolution adopted by the affirmative vote of a majority of all the directors then in office, may create one or more Committees (each such Committee to consist of one or more members of the Board of Directors), appoint members of the Board of Directors to serve on such Committees and designate other members of the Board of Directors to serve as alternates. Each suchAny standing Committee shall (i) consist of the number of directors with the requisite qualifications, (ii) have the responsibilities and authority, (iii) meet such number of times per year and (iv) report the actions taken by such Committee to the Board of Directors, in each case as set forth in such Committee’s Charter approved from time to time by the Board of Directors, subject to the Wisconsin Business Corporation Law, the Articles of Incorporation and these Bylaws. Subject to the Articles of Incorporation and these Bylaws, and unless otherwise provided by resolution of the Board of Directors, each Committee may make its own rules of procedure, shall meet where and as provided by such rules and shall keep regular minutes of its meetings. Unless otherwise provided by resolution of the Board of Directors, each Committee may employ counsel, accountants and other consultants to assist it in the exercise of its authority.

Section 5.2    CERTAIN COMMITTEE ACTIONS. –- To the extent specified by these Bylaws or by resolution of the Board of Directors a Committee may exercise the authority of the Board of Directors, except that a Committee may not do any of the following: (a) approve or recommend to shareowners for approval any action or matter expressly required by the Wisconsin Business Corporation Law to be submitted to shareowners for approval; or (b) adopt, amend or repeal Bylaws.

ARTICLE VI

OFFICERS

Section 6.1    OFFICERS. - The Board of Directors shall elect a Chief Executive Officer, a President, such number of Vice Presidents with such designations as the Board of Directors at the time may decide upon, a Corporate Secretary, a Treasurer and a Controller. The Chief Executive Officer may appoint such other officers and assistant officers as may be deemed necessary. The same person may simultaneously hold more than one such office.

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Section 6.2    TERM OF OFFICERS. - All Officers, unless sooner removed, shall hold their respective offices until their successors, willing to serve, shall have been elected but any Officer may be removed from office at any time by the Board of Directors.

Section 6.3    REMOVAL OF OFFICERS. - Any Officer may be removed by the Board of Directors whenever in its judgment the best interests of the Corporation will be served thereby, but such removal shall be without prejudice to the contract rights, if any, of the person so removed. Election or appointment of an officer shall not of itself create contract rights.

Section 6.4    CHIEF EXECUTIVE OFFICER. - Subject to the control of the Board of Directors the Chief Executive Officer designated by the Board of Directors shall have and be responsible for the general management and direction of the business of the Corporation, shall establish the lines of authority and supervision of the Officers and employees of the Corporation, shall have the power to appoint and remove and discharge any and all agents and employees of the Corporation not elected or appointed directly by the Board of Directors, and shall assist the Board in the formulation of policies of the Corporation.

Section 6.5    PRESIDENT. - The President, when not designated as and does not have the powers of the Chief Executive Officer, shall have such other powers and duties as may from time to time be prescribed by the Board of Directors or be delegated by the Chief Executive Officer.

Section 6.6    VICE PRESIDENTS. - The Vice Presidents shall have such powers and duties as may be prescribed by the Board of Directors and the Chief Executive Officer. The execution of any instrument of the Corporation by any Vice President shall be conclusive evidence, as to third parties, of their authority to act in the stead of the Chief Executive Officer and the President. The Board of Directors may designate any Vice President as being senior in rank or degree of responsibility and may accord such Vice President an appropriate title designating rank, such as “Senior Vice President” or “Executive Vice President.”

Section 6.7    CORPORATE SECRETARY. - The Corporate Secretary shall attend all meetings of the Board of Directors, shall keep a record thereof in proper books to be provided for that purpose, and shall be responsible for the custody and care of the corporate seal, corporate records and minute books of the Corporation, and of all other books, documents and papers as in the practical business operation of the Corporation shall naturally belong in the office or custody of the Corporate Secretary, or shall be placed in the custody of the Corporate Secretary by the Chief Executive Officer or by the Board of Directors. The Corporate Secretary shall also act as Corporate Secretary of all shareowners’ meetings and keep a record thereof. The Corporate Secretary shall, except as may be otherwise required by statute or by these Bylaws, sign, issue and publish all notices required for meetings of shareowners and of the Board of Directors. The Corporate Secretary shall be responsible for the custody of the stock books of the Corporation and shall keep a suitable record of the addresses of shareowners. The Corporate Secretary shall sign stock certificates, bonds and mortgages, and all other documents and papers to which the Corporate Secretary’s signature may be necessary or appropriate, shall affix the seal of the Corporation to all instruments requiring the seal, and shall have such other powers and duties as are commonly incidental to the office of Corporate Secretary, or as may be prescribed by the President or by the Board of Directors.

Section 6.8    TREASURER. - The Treasurer shall have charge of, and be responsible for, the collection, receipt, custody and disbursement of the funds of the Corporation, and shall deposit its funds in the name of the Corporation in such banks or trust companies as the Treasurer shall designate and shall keep a proper record of cash receipts and disbursements. The Treasurer shall be responsible for the custody of such books, receipted vouchers and other books and papers as in the practical business operation of the Corporation shall naturally belong in the office or custody of the Treasurer or shall be placed in the Treasurer’s custody by the President, or by the Board of Directors. The Treasurer shall sign checks, drafts, and other paper providing for the payment of money by the Corporation for operating purposes in the usual course orof business. The Treasurer may, in the absence of the Corporate Secretary and Assistant Corporate Secretaries sign stock certificates. The Treasurer shall have such other powers and duties as are commonly incidental to the office of Treasurer, or as may be prescribed by the President or by the Board of Directors.

Section 6.9    CONTROLLER. - The Controller shall be the principal accounting Officer of the Corporation. The Controller shall have general supervision over the books of accounts of the Corporation. The Controller shall have full access to all minutes, contracts, correspondence and other papers and records of the Corporation relating to its business matters, and shall be responsible for the custody of such books and documents as shall naturally belong in the custody of the Controller and as shall be placed in Thethe Controller’s custody by the President or by the Board of Directors. The Controller shall have such other powers and duties as are commonly incidental to the office of Controller, or as may be prescribed by the President or by the Board of Directors.

Section 6.10    ASSISTANT OFFICERS. - The Assistant Corporate Secretaries, Assistant Treasurers, Assistant Controllers, and other Assistant Officers shall respectively assist the Corporate Secretary, Treasurer, Controller, and other Officers of the Corporation in the performance of the respective duties assigned to such principal Officer, and in assisting their principal Officer each assistant Officer shall to that extent and for such purpose have the same powers as such person’s principal Officer. The powers and duties of any such principal Officer shall temporarily devolve upon an assistant Officer in case of the absence, disability, death, resignation or removal from office of such principal Officer.

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ARTICLE VII

CERTIFICATES FOR SHARES AND THEIR TRANSFER

Section 7.1    CERTIFICATES FOR SHARES. - Each certificate representing shares of the Corporation shall state upon the face (a) that the Corporation is organized under the laws of the State of Wisconsin, (b) the name of the person to whom issued, (c) the number and class of shares, and the designation of the series, if any, which such certificate represents, and (d) the par value of each share, if any, and each such certificate shall otherwise be in such form as shall be determined by the Board of Directors. Such certificates shall be signed either manually or in facsimile by the Chair of the Board, or the Chief Executive Officer or the President and by the Corporate Secretary or an Assistant Corporate Secretary and shall be sealed with the corporate seal or a facsimile thereof. Any signature upon a certificate on behalf of a transfer agent and registrar may be manual or in facsimile. In case any officer or other authorized person who has signed or whose facsimile signature has been placed upon such certificate for the Corporation shall have ceased to be such officer or employee or agent before such certificate is issued, it may be issued by the Corporation with the same effect as if such person where an officer or employee or agent at the date of its issue. Each certificate for shares shall be consecutively numbered or otherwise identified.

All certificates surrendered to the Corporation for transfer shall be canceled and no new certificate shall be issued until the former certificate for a like number of shares shall have been surrendered and canceled, except that in case of a lost, destroyed or mutilated certificate a new one may be issued therefor upon such terms and indemnity to the Corporation as the Board of Directors may prescribe.

Section 7.2    TRANSFER OF SHARES. - Transfer of shares of the Corporation shall be made only on the stock transfer books of the Corporation by the holder of record thereof or by such person’s legal representative, who shall furnish proper evidence of authority to transfer, or authorized attorney, by power of attorney duly executed and filed with the Corporate Secretary of the Corporation, and on surrender for cancellation of the certificate for such shares.

Subject to the provisions of Section 3.12 of Article III of these Bylaws, the person in whose name shares stand on the books of the Corporation shall be treated by the Corporation as the owner thereof for all purposes, including all rights deriving from such shares, and the Corporation shall not be bound to recognize any equitable or other claim to, or interest in, such shares or rights deriving from such shares, on the part of any other person, including (without limitation) a purchaser, assignee or transferee of such shares, or rights deriving from such shares, unless and until such purchaser, assignee, transferee or other person becomes the record holder of such shares, whether or not the Corporation shall have either actual or constructive notice of the interest of such purchaser, assignee, transferee or other person. Except as provided in said Section 3.12 hereof, no such purchaser, assignee, transferee or other person shall be entitled to receive notice of the meetings of shareowners, to vote at such meetings, to examine the complete record of the shareowners entitled to vote at meetings, or to own, enjoy or exercise any other property or rights deriving from such shares against the Corporation, until such purchaser, assignee, transferee or other person has become the record holder of such shares.

Section 7.3    LOST, DESTROYED OR STOLEN CERTIFICATES. - When the owner claims that certificates for shares have been lost, destroyed or wrongfully taken, a new certificate shall be issued in place thereof if the owner (a) so requests before the Corporation has notice that such shares have been acquired by a bona fide purchaser, (b) files with the Corporation a sufficient indemnity bond if required by the Corporation and (c) satisfies such other reasonable requirements as may be provided by the Corporation.

Section 7.4    STOCK REGULATIONS. - The Board of Directors shall have the power and authority to make all such further rules and regulations not inconsistent with law as it may deem expedient concerning the issue, transfer and registration of shares of the Corporation.

Section 7.5    SHARES WITHOUT CERTIFICATES. - The Board of Directors hereby authorizes the issuance of any shares of its classes or series without certificates to the full extent that the Corporate Secretary determines that such issuance is allowed by applicable law and rules of any national securities exchange on which such shares are listed, any such determination to be conclusively evidenced by the delivery to the Corporation's transfer agent and registrar by the Corporate Secretary of a certificate referring to this Bylaw and providing instructions of the Corporate Secretary to the transfer agent and registrar to issue any such shares without certificates in accordance with applicable law. In any event, the foregoing authorization does not affect shares already represented by certificates until the certificates are surrendered to the Corporation.

ARTICLE VIII

INDEMNIFICATION AND LIABILITY OF DIRECTOR AND OFFICERS

Section 8.1    CERTAIN DEFINITIONS. – The following capitalized terms (including any plural forms thereof) used in this Article VIII shall be defined for purposes of this Article VIII as follows:

(a)    “Authority” shall mean the persons or entity selected by the Director or Officer to determine such person’s right to indemnification pursuant to Section 8.4.

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(b)    “Board” shall mean the entire then elected and serving Board of Directors of the Corporation, including without limitation all members thereof who are Parties to the subject Proceeding or any related Proceeding.

(c)    “Breach of Duty” shall mean the Director or Officer breached or failed to perform a duty or duties to the Corporation and such breach of or failure to perform those duties is determined, in accordance with Section 8.4 to constitute misconduct under Section 180.0851(2)(a) l, 2, 3 or 4 of the Statute.

(d)    “Corporation,” as used in this Article VIII and as defined in the Statute and incorporated by reference into the definitions of certain other capitalized terms used herein, shall mean this Corporation, including, without limitation, any successor corporation or entity to this corporation by way of merger, consolidation or acquisition of all or substantially all of the capital stock or assets of this Corporation.

(e)    “Corporation Affiliate” shall include, without limitation, any corporation, partnership, limited liability company, joint venture, employee benefit plan, trust or other enterprise, whether domestic or foreign, that is an Affiliate (as defined in Section 3.2(c)(i) of these Bylaws) of the Corporation.

(f)    “Director or Officer” shall have the meaning set forth in the Statute; provided, that, for purposes of this Article VIII, (i) “Director or Officer” shall include a director or officer of a Subsidiary (whether or not otherwise serving as a Director or Officer), (ii) the term “employee benefit plan” as used in Section 180.0850(2)(c) of the Statute shall include an employee benefit plan sponsored, maintained or contributed to by a Subsidiary and (iii) it shall be conclusively presumed that any Director or Officer serving as a director, officer, partner, member, trustee, member of any governing or decision-making committee, manager, employee or agent of a Corporation Affiliate shall be so serving at the request of the Corporation.

(g)    “Disinterested Quorum” shall mean a quorum of the Board who are not Parties to the subject Proceeding or any related Proceeding.

(h)    “Expenses” shall mean and include fees, costs, charges, disbursements, attorney fees and any other expenses incurred in connection with a Proceeding.

(i)    “Independent Legal Counsel” shall mean a law firm, or a member of a law firm, or an independent practitioner that is experienced in matters of relevant corporation law and neither presently is, nor in the past three years has been, retained to represent (i) the Corporation or any Director or Officer in any matter material to such party (other than with respect to matters concerning the Director or Officer under this Article VIII), or (ii) any other party to the Proceeding giving rise to a claim for indemnification hereunder. Notwithstanding the foregoing, the term “Independent Legal Counsel” shall not include any person who, under the applicable standards of professional conduct then prevailing, would have a conflict of interest in representing either the Corporation or the Director or Officer in an action to determine the Director’s or Officer’s rights.

(j)    “Liability” shall mean and include the obligation to pay a judgment, settlement, penalty, assessment, forfeiture or fine, including an excise tax assessed with respect to an employee benefit plan, and reasonable Expenses.

(k)    “Party” shall have the meaning set forth in the Statute; provided, that, for purposes of this Article VIII, the term “Party” shall also include any Director or Officer or employee of the Corporation who is or was a witness in a Proceeding at a time when such person has not otherwise been formally named a Party thereto.

(l)    “Proceeding” shall have the meaning set forth in the Statute; provided, that, in accordance with Section 180.0859 of the Statute and for purposes of this Article VIII, the term “Proceeding” shall include without limitation all Proceedings (i) brought under (in whole or in part) the Securities Act of 1933, as amended, the Securities Exchange Act of 1934, as amended, their respective state counterparts, and/or any rule or regulation promulgated under any of the foregoing; (ii) brought before an Authority or otherwise to enforce rights hereunder; (iii) involving any appeal from a Proceeding; and (iv) in which the Director or Officer is a plaintiff or petitioner because such person is a Director or Officer; provided, however, that any such Proceeding under this subsection (iv) must be authorized by a majority vote of a Disinterested Quorum.

(m)    “Statute” shall mean Sections 180.0850 through 180.0859, inclusive, of the Wisconsin Business Corporation Law, Chapter 180 of the Wisconsin Statutes, as the same shall then be in effect, including any amendments thereto, but, in the case of any such amendment, only to the extent such amendment permits or requires the Corporation to provide broader indemnification rights than the Statute permitted or required the Corporation to provide prior to such amendment.

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(n)    “Subsidiary” shall mean any direct or indirect subsidiary of the Corporation as determined for financial reporting purposes, whether domestic or foreign.

Section 8.2    MANDATORY INDEMNIFICATION OF DIRECTORS AND OFFICERS. - To the fullest extent permitted or required by the Statute, the Corporation shall indemnify a Director or Officer against all Liabilities incurred by or on behalf of such Director or Officer in connection with a Proceeding in which the Director or Officer is a Party because such person is or was a Director or Officer.

Section 8.3    PROCEDURAL REQUIREMENTS.

(a)    A Director or Officer who seeks indemnification under Section 8.2 shall make a written request therefor to the Corporation. Subject to Section 8.3(b), within sixty days of the Corporation’s receipt of such request, the Corporation shall pay or reimburse the Director or Officer for the entire amount of Liabilities incurred by the Director or Officer in connection with the subject Proceeding (net of any Expenses previously advanced pursuant to Section 8.5).

(b)    No indemnification shall be required to be paid by the Corporation pursuant to Section 8.2 if, within such sixty-day period, (i) a Disinterested Quorum, by a majority vote thereof, determines that the Director or Officer requesting indemnification engaged in misconduct constituting a Breach of Duty or (ii) a Disinterested Quorum cannot be obtained.

(c)    In case of nonpayment pursuant to Section 8.3(b), the Board shall immediately authorize by resolution that an Authority, as provided in Section 8.4, determine whether the Director’s or Officer’s conduct constituted a Breach of Duty and, therefore, whether indemnification should be denied hereunder.

(d)    (i) If the Board does not authorize an Authority to determine the Director’s or Officer’s right to indemnification hereunder within such sixty-day period and/or (ii) if indemnification of the requested amount of Liabilities is paid by the Corporation, then it shall be conclusively presumed for all purposes that a Disinterested Quorum has affirmatively determined that the Director or Officer did not engage in misconduct constituting a Breach of Duty and, in the case of subsection (i) above (but not subsection (ii)), indemnification by the Corporation of the requested amount of Liabilities shall be paid to the Director or Officer immediately.

Section 8.4    DETERMINATION OF INDEMNIFICATION.

(a)    If the Board authorizes an Authority to determine a Director’s or Officer’s right to indemnification pursuant to Section 8.3, then the Director or Officer requesting indemnification shall have the absolute discretionary authority to select one of the following as such Authority:

(i)    An Independent Legal Counsel mutually selected by such Director or Officer and by a majority vote of a Disinterested Quorum or, if a Disinterested Quorum cannot be obtained, then by a majority vote of the Board;

(ii)    A panel of three arbitrators selected from the panels of arbitrators of the American Arbitration Association in Wisconsin; provided, that (A) the first arbitrator shall be selected by such Director or Officer, the second arbitrator shall be selected by a majority vote of a Disinterested Quorum or, if a Disinterested Quorum cannot be obtained, then by a majority vote of the Board, and the third arbitrator shall be selected by the two previously selected arbitrators, and (B) in all other respects (other than this Article VIII), such panel shall be governed by the American Arbitration Association’s then existing Commercial Arbitration Rules; or

(iii)    A court pursuant to and in accordance with Sections 180.0854 and 180.0855 of the Statute.

(b)    In any such determination by the selected Authority, there shall exist a rebuttable presumption that the Director’s or Officer’s conduct did not constitute a Breach of Duty and that indemnification against the requested amount of Liabilities is required. The burden of rebutting such a presumption by clear and convincing evidence shall be on the Corporation or such other party asserting that such indemnification should not be allowed.

(c)    The Authority shall make its determination within sixty days of being selected and shall submit a written opinion of its conclusion simultaneously to both the Corporation and the Director or Officer. If the Authority shall not have made a determination within such sixty-day period, then it shall be conclusively presumed for all purposes that the Authority has determined that the Director or Officer has a right to indemnification pursuant to Section 8.3 and the Director or Officer shall be entitled to such indemnification, absent (1) a misstatement by the Director or Officer of a material fact, or an omission of

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a material fact necessary to make the Director’s or Officer’s statement not materially misleading, in connection with the request for indemnification, or (2) an express prohibition under applicable law against determining the Director’s or Officer’s entitlement to indemnification in this matter; provided, however, that such sixty-day period may be extended for a reasonable time, not to exceed an additional thirty days, if the person, persons or entity making the determination with respect to entitlement to indemnification in good faith requires such additional time for the obtaining or evaluating of documentation and/or information relating thereto.

(d)    If the Authority determines (or is deemed to have determined) that indemnification is required hereunder, then the Corporation shall pay the entire requested amount of Liabilities (net of any Expenses previously advanced pursuant to Section 8.5), including interest thereon at a reasonable rate, as determined by the Authority, within ten days of receipt of the Authority’s opinion; provided, that, if it is determined by the Authority that a Director or Officer is entitled to indemnification against Liabilities’ incurred in connection with some claims, issues or matters, but not as to other claims, issues or matters, involved in the subject Proceeding, then the Corporation shall be required to pay (as set forth above) only the amount of such requested Liabilities as the Authority shall deem appropriate in light of all of the circumstances of such Proceeding.

(e)    The determination by the Authority that indemnification is required hereunder shall be binding upon the Corporation, regardless of any prior determination that the Director or Officer engaged in a Breach of Duty.

(f)    All Expenses incurred in the determination process under this Section 8.4 by either the Corporation or the Director or Officer, including, without limitation, all Expenses of the selected Authority, shall be paid by the Corporation.

Section 8.5    MANDATORY ALLOWANCE OF EXPENSES.

(a)    The Corporation shall pay or reimburse from time to time or at any time, within ten days after the receipt of the Director’s or Officer’s written request therefor, the reasonable Expenses of the Director or Officer as such Expenses are incurred; provided, the following conditions are satisfied:

(i)    The Director or Officer furnishes to the Corporation an executed written certificate affirming such person’s good faith belief that they have not engaged in misconduct which constitutes a Breach of Duty; and

(ii)    The Director or Officer furnishes to the Corporation an unsecured executed written agreement to repay any advances made under this Section 8.5 if it is ultimately determined by an Authority that such person is not entitled to be indemnified by the Corporation for such Expenses pursuant to Section 8.4.

(b)    If the Director or Officer must repay any previously advanced Expenses pursuant to this Section 8.5, then such Director or Officer shall not be required to pay interest on such amounts.

Section 8.6    INDEMNIFICATION AND ALLOWANCE OF EXPENSES OF CERTAIN OTHERS.

(a)    The Board may, in its sole and absolute discretion as it deems appropriate, pursuant to a majority vote thereof, indemnify a director or officer of a Corporation Affiliate (who is not otherwise serving as a Director or Officer) against all Liabilities, and shall advance the reasonable Expenses, incurred by such director or officer in a Proceeding to the same extent hereunder as if such director or officer incurred such Liabilities because such person was a Director or Officer, if such director or officer is a Party thereto because such person is or was a director or officer of the Corporation Affiliate.

(b)    The Corporation shall indemnify an employee who is not a Director or Officer, to the extent such person has been successful on the merits or otherwise in defense of a Proceeding, for all reasonable Expenses incurred in the Proceeding if the employee was a Party because such person was an employee of the Corporation.

(c)    The Board may, in its sole and absolute discretion as it deems appropriate, pursuant to a majority vote thereof, indemnify (to the extent not otherwise provided in Section 8.6(b)) against Liabilities incurred by, and/or provide for the allowance of reasonable Expenses of, an employee or authorized agent of the Corporation acting within the scope of their duties as such and who is not a Director or Officer.

Section 8.7    INSURANCE. - The Corporation may purchase and maintain insurance on behalf of a Director or Officer or any individual who is or was an employee or authorized agent of the Corporation against any Liability asserted against or incurred by such individual in their capacity as such or arising from their status as such,

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regardless of whether the Corporation is required or permitted to indemnify against any such Liability under this Article VIII.

Section 8.8    NOTICE TO THE CORPORATION. - A Director or Officer or an employee of the Corporation shall promptly notify the Corporation in writing when such person has actual knowledge of a Proceeding that may result in a claim of indemnification against Liabilities or allowance of Expenses hereunder, but the failure to do so shall not relieve the Corporation of any liability to the Director or Officer or employee hereunder unless the Corporation shall have been irreparably prejudiced by such failure (as determined, in the case of Directors or Officers only, by an Authority selected pursuant to Section 8.4(a)).

Section 8.9    SEVERABILITY. - If any provision of this Article VIII shall be deemed invalid or inoperative, or if a court of competent jurisdiction determines that any of the provisions of this Article VIII contravene public policy, then this Article VIII shall be construed so that the remaining provisions shall not be affected, but shall remain in full force and effect, and any such provisions which are invalid or inoperative or which contravene public policy shall be deemed, without further action or deed by or on behalf of the Corporation, to be modified, amended and/or limited, but only to the extent necessary to render the same valid and enforceable; it being understood that it is the Corporation’s intention to provide Directors and Officers with the broadest possible protection against personal liability allowable under the Statute.

Section 8.10    NONEXCLUSIVITY OF ARTICLE VIII. - The rights of a Director or Officer or an employee of the Corporation (or any other person) granted under this Article VIII shall not be deemed exclusive of any other rights to indemnification against Liabilities or allowance of Expenses which the Director or Officer or employee of the Corporation (or such other person) may be entitled to under any written agreement, Board resolution, vote of shareowners of the Corporation or otherwise, including, without limitation, under the Statute. Nothing contained in this Article VIII shall be deemed to limit the Corporation’s obligations to indemnify against Liabilities or allow Expenses to a Director or Officer or an employee of the Corporation under the Statute.

Section 8.11    CONTRACTUAL NATURE OF ARTICLE VIII; REPEAL OR LIMITATION OF RIGHTS. - This Article VIII shall be deemed to be a contract between the Corporation and each Director or Officer and employee of the Corporation and any repeal or other limitation of this Article VIII or any repeal or limitation of the Statute or any other applicable law shall not limit any rights of indemnification against Liabilities or allowance of Expenses then existing or arising out of events, acts or omissions occurring prior to such repeal or limitation, including, without limitation, the right to indemnification against Liabilities or allowance of Expenses for Proceedings commenced after such repeal or limitation to enforce this Article VIII with regard to acts, omissions or events arising prior to such repeal or limitation. If the Statute is amended to permit or require the Corporation to provide broader indemnification rights than this Article VIII permits or requires, then this Article VIII shall be automatically amended and deemed to incorporate such broader indemnification rights.

ARTICLE IX

MISCELLANEOUS

Section 9.1    FISCAL YEAR. - The fiscal year of the Corporation shall be the calendar year.

Section 9.2    DIVIDENDS. - Subject to the provisions of law or the Articles of Incorporation, the Board of Directors may, at any regular or special meeting, declare dividends upon the capital stock of the Corporation payable out of surplus (whether earned or paid-in) or profits as and when they deem expedient. Before declaring any dividend there may be set apart out of surplus or profits such sum or sums as the directors from time to time in their discretion deem proper for working capital or as a reserve fund to meet contingencies or for such other purposes as the directors shall deem conducive to the interests of the Corporation.

Section 9.3    CONTRACTS, CHECKS, DRAFTS, DEEDS, LEASES AND OTHER INSTRUMENTS. - All contracts, checks, drafts or other orders for the payment of money, notes or other evidences of indebtedness issued in the name of the Corporation, shall be signed by such officer or officers, or agent or agents of the Corporation and in such manner as shall from time to time be determined by resolution of the Board of Directors or corporate policy adopted by the Board of Directors. The Board may authorize by resolution or corporate policy adopted by the Board of Directors any officer or officers to enter into and execute any contract or instrument of indebtedness in the name of the Corporation, and such authority may be general or confined to specific instances. All funds of the Corporation not otherwise employed shall be deposited from time to time to the credit of the Corporation in such banks or other depositories as the Treasurer may authorize.

All contracts, deeds, mortgages, leases or instruments that require the corporate seal of the Corporation to be affixed thereto shall be signed by the President or a Vice President, and by the Corporate Secretary, or an Assistant Corporate Secretary, or by such other officer or officers, or person or persons, as the Board of Directors may by resolution or corporate policy adopted by the Board of Directors prescribe.

Section 9.4    VOTING OF SHARES OWNED BY THE CORPORATION. - Subject always to the specific directions of the Board of Directors, any share or shares of stock issued by any other corporation and owned or controlled by the Corporation may be voted at any shareowners’ meeting of such other corporation by the Chief

17

Executive Officer of the Corporation, if present, or if absent by any other officer of the Corporation who may be present. Whenever, in the judgment of the Chief Executive Officer, or if absent, of any officer, it is desirable for the Corporation to execute a proxy or give a shareowners’ consent in respect to any share or shares of stock issued by any other corporation and owned by the Corporation, such proxy or consent shall be executed in the name of the Corporation by the Chief Executive Officer or one of the officers of the Corporation and shall be attested by the Corporate Secretary or an Assistant Corporate Secretary of the Corporation without necessity of any authorization by the Board of Directors. Any person or persons designated in the manner above stated as the proxy or proxies of the Corporation shall have full right, power and authority to vote the share or shares of stock issued by such other corporation and owned by the Corporation in the same manner as such share or shares might be voted by the Corporation.

Section 9.5    NOTICES. - Whenever any statute, the Articles of Incorporation ofor these Bylaws requires the Corporation to give notice to any shareowner or Director, such notice may be given in writing by mail or by “electronic transmission” (as defined in the Wisconsin Business Corporation Law). Written notice pursuant to the foregoing sentence shall be deemed to be effective (a) when mailed, if mailed postpaid and addressed to the shareowner’s address shown in the Corporation’s current record of shareowners or to the Director’s address that the Director has designated to the Corporate Secretary of the Corporation or (b) when electronically transmitted to the shareowner in a manner authorized by the shareowner or to the Director as the Director may have designated to the Corporate Secretary of the Corporation. Notice to Directors may also be given in person; by other method of delivery (meaning any method of delivery used in conventional commercial practice, including delivery by hand, commercial overnight delivery or private carrier); by telephone, including voice mail, answering machine or answering service; or by any other electronic means. Oral notice is effective when communicated. Other written notice is effective as follows: if delivered by hand or by private carrier, when received; if given by commercial overnight delivery, on the day the service undertakes to make delivery; and if given by facsimile, at the time transmitted to a facsimile number the recipient has provided.

ARTICLE X

AMENDMENT OR REPEAL OF BYLAWS

Section 10.1    AMENDMENTS BY BOARD OF DIRECTORS. - Except as otherwise provided by the Wisconsin Business Corporation Law or the Articles of Incorporation, these Bylaws may be amended or repealed and new Bylaws may be adopted by the Board of Directors by the affirmative vote of a majority of the number of directors present at any meeting at which a quorum is in attendance; provided, however, that the shareowners in adopting, amending or repealing a particular Bylaw may provide therein that the Board of Directors may not amend, repeal or readopt that Bylaw.

Section 10.2    IMPLIED AMENDMENT. - Any action taken or authorized by the shareowners or by the Board of Directors which would be inconsistent with the Bylaws then in effect but which is taken or authorized by affirmative vote of not less than the number of shares or the number of directors required to amend the Bylaws so that the Bylaws would be consistent with such action shall be given the same effect as though the Bylaws had been temporarily amended or suspended so far, but only so far, as is necessary to permit the specific action so taken or authorized.

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EX-31.1

Exhibit 31.1

Certification of the Chief Executive Officer for Alliant Energy Corporation

I, John O. Larsen, certify that:

1.I have reviewed this quarterly report on Form 10-Q of Alliant Energy Corporation;

2.Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3.Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4.The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

a)Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b)Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c)Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d)Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5.The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

a)All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

b)Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: November 8, 2022

/s/ John O. Larsen

John O. Larsen

Chair, President and Chief Executive Officer

EX-31.2

Exhibit 31.2

Certification of the Chief Financial Officer for Alliant Energy Corporation

I, Robert J. Durian, certify that:

1.I have reviewed this quarterly report on Form 10-Q of Alliant Energy Corporation;

2.Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3.Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4.The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

a)Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b)Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c)Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d)Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5.The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

a)All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

b)Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: November 8, 2022

/s/ Robert J. Durian

Robert J. Durian

Executive Vice President and Chief Financial Officer

EX-31.3

Exhibit 31.3

Certification of the Chief Executive Officer for Interstate Power and Light Company

I, John O. Larsen, certify that:

1.I have reviewed this quarterly report on Form 10-Q of Interstate Power and Light Company;

2.Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3.Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4.The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

a)Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b)Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c)Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d)Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5.The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

a)All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

b)Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: November 8, 2022

/s/ John O. Larsen

John O. Larsen

Chair and Chief Executive Officer

EX-31.4

Exhibit 31.4

Certification of the Chief Financial Officer for Interstate Power and Light Company

I, Robert J. Durian, certify that:

1.I have reviewed this quarterly report on Form 10-Q of Interstate Power and Light Company;

2.Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3.Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4.The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

a)Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b)Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c)Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d)Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5.The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

a)All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

b)Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: November 8, 2022

/s/ Robert J. Durian

Robert J. Durian

Executive Vice President and Chief Financial Officer

EX-31.5

Exhibit 31.5

Certification of the Chief Executive Officer for Wisconsin Power and Light Company

I, John O. Larsen, certify that:

1.I have reviewed this quarterly report on Form 10-Q of Wisconsin Power and Light Company;

2.Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3.Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4.The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

a)Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b)Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c)Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d)Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5.The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

a)All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

b)Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: November 8, 2022

/s/ John O. Larsen

John O. Larsen

Chair and Chief Executive Officer

EX-31.6

Exhibit 31.6

Certification of the Chief Financial Officer for Wisconsin Power and Light Company

I, Robert J. Durian, certify that:

1.I have reviewed this quarterly report on Form 10-Q of Wisconsin Power and Light Company;

2.Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3.Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4.The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

a)Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b)Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c)Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d)Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5.The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

a)All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

b)Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: November 8, 2022

/s/ Robert J. Durian

Robert J. Durian

Executive Vice President and Chief Financial Officer

EX-32.1

Exhibit 32.1

Written Statement of the Chief Executive Officer and Chief Financial Officer

Pursuant to 18 U.S.C. §1350

Solely for the purposes of complying with 18 U.S.C. §1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, we, the undersigned Chief Executive Officer and Chief Financial Officer of Alliant Energy Corporation (the “Company”), hereby certify, based on our knowledge, that the Quarterly Report on Form 10-Q of the Company for the quarter ended September 30, 2022 (the “Report”) fully complies with the requirements of Section 13(a) of the Securities Exchange Act of 1934 and that information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

/s/ John O. Larsen

John O. Larsen

Chair, President and Chief Executive Officer

/s/ Robert J. Durian

Robert J. Durian

Executive Vice President and Chief Financial Officer

November 8, 2022

EX-32.2

Exhibit 32.2

Written Statement of the Chief Executive Officer and Chief Financial Officer

Pursuant to 18 U.S.C. §1350

Solely for the purposes of complying with 18 U.S.C. §1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, we, the undersigned Chief Executive Officer and Chief Financial Officer of Interstate Power and Light Company (the “Company”), hereby certify, based on our knowledge, that the Quarterly Report on Form 10-Q of the Company for the quarter ended September 30, 2022 (the “Report”) fully complies with the requirements of Section 13(a) of the Securities Exchange Act of 1934 and that information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

/s/ John O. Larsen

John O. Larsen

Chair and Chief Executive Officer

/s/ Robert J. Durian

Robert J. Durian

Executive Vice President and Chief Financial Officer

November 8, 2022

EX-32.3

Exhibit 32.3

Written Statement of the Chief Executive Officer and Chief Financial Officer

Pursuant to 18 U.S.C. §1350

Solely for the purposes of complying with 18 U.S.C. §1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, we, the undersigned Chief Executive Officer and Chief Financial Officer of Wisconsin Power and Light Company (the “Company”), hereby certify, based on our knowledge, that the Quarterly Report on Form 10-Q of the Company for the quarter ended September 30, 2022 (the “Report”) fully complies with the requirements of Section 13(a) of the Securities Exchange Act of 1934 and that information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

/s/ John O. Larsen

John O. Larsen

Chair and Chief Executive Officer

/s/ Robert J. Durian

Robert J. Durian

Executive Vice President and Chief Financial Officer

November 8, 2022

XML

Document And Entity Information	9 Months Ended
	Sep. 30, 2022 shares
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2022
Document Transition Report	false
Entity Registrant Name	ALLIANT ENERGY CORP
Entity Central Index Key	0000352541
Entity Incorporation, State or Country Code	WI
Entity Address, Address Line One	4902 N. Biltmore Lane
Entity Address, City or Town	Madison
Entity Address, State or Province	WI
Entity Address, Postal Zip Code	53718
City Area Code	608
Local Phone Number	458-3311
Entity File Number	1-9894
Entity Tax Identification Number	39-1380265
Title of 12(b) Security	Common Stock, $0.01 Par Value
Trading Symbol	LNT
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding	251,021,830
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q3
Amendment Flag	false
IPL [Member]
Entity Information [Line Items]
Entity Registrant Name	INTERSTATE POWER & LIGHT CO
Entity Central Index Key	0000052485
Entity Incorporation, State or Country Code	IA
Entity Address, Address Line One	Alliant Energy Tower
Entity Address, City or Town	Cedar Rapids
Entity Address, State or Province	IA
Entity Address, Postal Zip Code	52401
City Area Code	319
Local Phone Number	786-4411
Entity File Number	1-4117
Entity Tax Identification Number	42-0331370
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding	13,370,788
WPL [Member]
Entity Information [Line Items]
Entity Registrant Name	WISCONSIN POWER & LIGHT CO
Entity Central Index Key	0000107832
Entity Incorporation, State or Country Code	WI
Entity Address, Address Line One	4902 N. Biltmore Lane
Entity Address, City or Town	Madison
Entity Address, State or Province	WI
Entity Address, Postal Zip Code	53718
City Area Code	608
Local Phone Number	458-3311
Entity File Number	0-337
Entity Tax Identification Number	39-0714890
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding	13,236,601

XML

Condensed Consolidated Statements Of Income - USD ($) shares in Thousands, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Revenues:
Electric utility	$ 1,039	$ 939	$ 2,624	$ 2,357
Gas utility	62	50	418	289
Other utility	11	13	35	36
Non-utility	23	22	70	60
Total revenues	1,135	1,024	3,147	2,742
Operating expenses:
Electric production fuel and purchased power	274	207	633	478
Electric transmission service	157	148	428	403
Cost of gas sold	26	18	242	149
Other operation and maintenance	172	171	492	477
Depreciation and amortization	169	165	501	494
Taxes other than income taxes	28	26	82	78
Total operating expenses	826	735	2,378	2,079
Operating income	309	289	769	663
Other (income) and deductions:
Interest expense	83	68	235	206
Equity income from unconsolidated investments, net	(5)	(13)	(37)	(47)
Allowance for funds used during construction	(10)	(7)	(34)	(16)
Other	0	3	0	7
Total other (income) and deductions	68	51	164	150
Income before income taxes	241	238	605	513
Income tax expense (benefit)	14	(21)	26	(66)
Net income	227	259	579	579
Preferred dividend requirements of Interstate Power and Light Company	0	3	0	8
Net income attributable to common shareowners	$ 227	$ 256	$ 579	$ 571
Weighted average number of common shares outstanding:
Basic (in shares)	251,000	250,300	250,800	250,200
Diluted (in shares)	251,300	250,800	251,100	250,600
Earnings per weighted average common share attributable to Alliant Energy common shareowners:
Basic (in dollars per share)	$ 0.90	$ 1.02	$ 2.31	$ 2.28
Diluted (in dollars per share)	$ 0.90	$ 1.02	$ 2.31	$ 2.28
IPL [Member]
Revenues:
Electric utility	$ 596	$ 555	$ 1,438	$ 1,343
Gas utility	33	31	224	165
Other utility	11	13	34	35
Total revenues	640	599	1,696	1,543
Operating expenses:
Electric production fuel and purchased power	140	101	290	215
Electric transmission service	115	103	303	274
Cost of gas sold	14	12	126	84
Other operation and maintenance	90	95	260	253
Depreciation and amortization	95	94	285	281
Taxes other than income taxes	15	14	43	42
Total operating expenses	469	419	1,307	1,149
Operating income	171	180	389	394
Other (income) and deductions:
Interest expense	37	34	111	103
Allowance for funds used during construction	(3)	(2)	(8)	(7)
Other	(1)	0	(2)	2
Total other (income) and deductions	33	32	101	98
Income before income taxes	138	148	288	296
Income tax expense (benefit)	(16)	(12)	(39)	(34)
Net income	154	160	327	330
Preferred dividend requirements of Interstate Power and Light Company	0	3	0	8
Net income attributable to common shareowners	154	157	327	322
WPL [Member]
Revenues:
Electric utility	443	384	1,186	1,014
Gas utility	29	19	194	124
Other utility	0	0	1	1
Total revenues	472	403	1,381	1,139
Operating expenses:
Electric production fuel and purchased power	134	105	343	263
Electric transmission service	42	44	125	128
Cost of gas sold	13	6	117	65
Other operation and maintenance	70	66	193	194
Depreciation and amortization	71	70	211	209
Taxes other than income taxes	11	12	35	35
Total operating expenses	341	303	1,024	894
Operating income	131	100	357	245
Other (income) and deductions:
Interest expense	31	25	86	77
Allowance for funds used during construction	(7)	(5)	(26)	(9)
Other	0	2	0	3
Total other (income) and deductions	24	22	60	71
Income before income taxes	107	78	297	174
Income tax expense (benefit)	16	(15)	50	(41)
Net income	$ 91	$ 93	$ 247	$ 215

XML

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 344	$ 39
Accounts receivable, less allowance for expected credit losses	509	440
Production fuel, at weighted average cost	49	51
Gas stored underground, at weighted average cost	124	82
Materials and supplies, at weighted average cost	126	113
Regulatory assets	177	104
Other	364	240
Total current assets	1,693	1,069
Property, plant and equipment, net	15,858	14,987
Investments:
ATC Holdings	351	338
Other	200	179
Total investments	551	517
Other assets:
Regulatory assets	1,864	1,836
Deferred charges and other	239	144
Total other assets	2,103	1,980
Total assets	20,205	18,553
Current liabilities:
Current maturities of long-term debt	658	633
Commercial paper	383	515
Accounts payable	786	436
Accrued taxes	86	58
Regulatory liabilities	229	186
Other	280	226
Total current liabilities	2,422	2,054
Long-term debt, net (excluding current portion)	7,570	6,735
Other liabilities:
Deferred tax liabilities	1,919	1,927
Regulatory liabilities	1,158	1,085
Pension and other benefit obligations	349	374
Other	522	388
Total other liabilities	3,948	3,774
Commitments and contingencies (Note 13)
Common equity:
Common stock	3	3
Additional paid-in capital	2,767	2,749
Retained earnings	3,508	3,250
Shares in deferred compensation trust - 395,224 and 383,532 shares at a weighted average cost of $32.23 and $30.59 per share	(13)	(12)
Total common equity	6,265	5,990
Total liabilities and equity	20,205	18,553
IPL [Member]
Current assets:
Cash and cash equivalents	45	34
Accounts receivable, less allowance for expected credit losses	286	241
Income tax refunds receivable	1	8
Production fuel, at weighted average cost	31	29
Gas stored underground, at weighted average cost	66	40
Materials and supplies, at weighted average cost	77	70
Regulatory assets	108	73
Other	134	69
Total current assets	748	564
Property, plant and equipment, net	8,013	7,983
Other assets:
Regulatory assets	1,315	1,370
Deferred charges and other	132	79
Total other assets	1,447	1,449
Total assets	10,208	9,996
Current liabilities:
Accounts payable	232	173
Accounts payable to associated companies	37	39
Accrued taxes	69	56
Accrued interest	35	36
Regulatory liabilities	105	84
Other	112	67
Total current liabilities	590	455
Long-term debt, net (excluding current portion)	3,645	3,643
Other liabilities:
Deferred tax liabilities	1,029	1,083
Regulatory liabilities	656	607
Pension and other benefit obligations	118	127
Other	314	312
Total other liabilities	2,117	2,129
Commitments and contingencies (Note 13)
Common equity:
Common stock	33	33
Additional paid-in capital	2,807	2,807
Retained earnings	1,016	929
Total common equity	3,856	3,769
Total liabilities and equity	10,208	9,996
WPL [Member]
Current assets:
Cash and cash equivalents	299	2
Accounts receivable, less allowance for expected credit losses	211	188
Production fuel, at weighted average cost	18	23
Gas stored underground, at weighted average cost	58	42
Materials and supplies, at weighted average cost	47	41
Regulatory assets	69	31
Prepaid gross receipts tax	31	40
Other	130	86
Total current assets	863	453
Property, plant and equipment, net	7,371	6,538
Other assets:
Regulatory assets	549	466
Deferred charges and other	115	61
Total other assets	664	527
Total assets	8,898	7,518
Current liabilities:
Current maturities of long-term debt	250	250
Commercial paper	0	236
Accounts payable	470	190
Accounts payable to associated companies	51	39
Regulatory liabilities	124	102
Other	93	73
Total current liabilities	988	890
Long-term debt, net (excluding current portion)	2,769	2,179
Other liabilities:
Deferred tax liabilities	783	753
Regulatory liabilities	502	478
Pension and other benefit obligations	148	159
Other	352	236
Total other liabilities	1,785	1,626
Commitments and contingencies (Note 13)
Common equity:
Common stock	66	66
Additional paid-in capital	2,123	1,704
Retained earnings	1,167	1,053
Total common equity	3,356	2,823
Total liabilities and equity	$ 8,898	$ 7,518

XML

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2022	Dec. 31, 2021
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	480,000,000	480,000,000
Common stock, shares outstanding (in shares)	251,021,830	250,474,529
Shares in deferred compensation trust (in shares)	395,224	383,532
Shares in deferred compensation trust, weighted average cost per share (in dollars per share)	$ 32.23	$ 30.59
IPL [Member]
Common stock, par value (in dollars per share)	$ 2.50	$ 2.50
Common stock, shares authorized (in shares)	24,000,000	24,000,000
Common stock, shares outstanding (in shares)	13,370,788	13,370,788
WPL [Member]
Common stock, par value (in dollars per share)	$ 5	$ 5
Common stock, shares authorized (in shares)	18,000,000	18,000,000
Common stock, shares outstanding (in shares)	13,236,601	13,236,601

XML

Condensed Consolidated Statements Of Cash Flows - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Cash flows from operating activities:
Net income	$ 579	$ 579
Adjustments to reconcile net income to net cash flows from operating activities:
Depreciation and amortization	501	494
Deferred tax expense (benefit) and tax credits	8	(69)
Other	(8)	7
Other changes in assets and liabilities:
Accounts receivable	(425)	(397)
Derivative assets	(184)	(202)
Regulatory assets	(102)	(21)
Accounts payable	90	0
Derivative liabilities	89	(21)
Regulatory liabilities	89	25
Deferred income taxes	(15)	160
Pension and other benefit obligations	(25)	(59)
Other	(112)	(19)
Net cash flows from operating activities	485	477
Cash flows from (used for) investing activities:
Utility business construction and acquisition expenditures	(873)	(772)
Other construction and acquisition expenditures	(69)	(60)
Cash receipts on sold receivables	358	423
Other	(15)	(43)
Net cash flows from (used for) investing activities	(599)	(452)
Cash flows from (used for) financing activities:
Common stock dividends	(322)	(304)
Proceeds from issuance of long-term debt	1,238	300
Payments to retire long-term debt	(379)	(4)
Net change in commercial paper	(132)	(73)
Contributions from noncontrolling interest	29	0
Distributions to noncontrolling interest	(29)	0
Other	16	24
Net cash flows from (used for) financing activities	421	(57)
Net increase (decrease) in cash, cash equivalents and restricted cash	307	(32)
Cash, cash equivalents and restricted cash at beginning of period	40	56
Cash, cash equivalents and restricted cash at end of period	347	24
Supplemental cash flows information:
Interest	(220)	(197)
Income taxes, net	(7)	(1)
Significant non-cash investing and financing activities:
Accrued capital expenditures	403	91
Beneficial interest obtained in exchange for securitized accounts receivable	248	164
IPL [Member]
Cash flows from operating activities:
Net income	327	330
Adjustments to reconcile net income to net cash flows from operating activities:
Depreciation and amortization	285	281
Deferred tax expense (benefit) and tax credits	(24)	(13)
Other	(8)	(1)
Other changes in assets and liabilities:
Accounts receivable	(397)	(412)
Derivative assets	(118)	(86)
Regulatory assets	18	(33)
Accounts payable	71	5
Derivative liabilities	62	(9)
Regulatory liabilities	61	30
Deferred income taxes	(30)	56
Pension and other benefit obligations	(9)	(25)
Other	(72)	(28)
Net cash flows from operating activities	166	95
Cash flows from (used for) investing activities:
Utility business construction and acquisition expenditures	(269)	(285)
Cash receipts on sold receivables	358	423
Other	(5)	(16)
Net cash flows from (used for) investing activities	84	122
Cash flows from (used for) financing activities:
Common stock dividends	(240)	(301)
Capital contributions from parent	0	50
Other	1	(3)
Net cash flows from (used for) financing activities	(239)	(254)
Net increase (decrease) in cash, cash equivalents and restricted cash	11	(37)
Cash, cash equivalents and restricted cash at beginning of period	34	50
Cash, cash equivalents and restricted cash at end of period	45	13
Supplemental cash flows information:
Interest	(111)	(106)
Income taxes, net	33	28
Significant non-cash investing and financing activities:
Accrued capital expenditures	43	30
Beneficial interest obtained in exchange for securitized accounts receivable	248	164
WPL [Member]
Cash flows from operating activities:
Net income	247	215
Adjustments to reconcile net income to net cash flows from operating activities:
Depreciation and amortization	211	209
Deferred tax expense (benefit) and tax credits	11	(63)
Other	(7)	12
Other changes in assets and liabilities:
Derivative assets	(66)	(116)
Regulatory assets	(120)	11
Deferred income taxes	20	108
Other	(17)	(27)
Net cash flows from operating activities	279	349
Cash flows from (used for) investing activities:
Utility business construction and acquisition expenditures	(604)	(487)
Other	(8)	(23)
Net cash flows from (used for) investing activities	(612)	(510)
Cash flows from (used for) financing activities:
Common stock dividends	(133)	(126)
Capital contributions from parent	420	245
Proceeds from issuance of long-term debt	588	300
Net change in commercial paper	(236)	(254)
Contributions from noncontrolling interest	29	0
Distributions to noncontrolling interest	(29)	0
Other	(9)	(3)
Net cash flows from (used for) financing activities	630	162
Net increase (decrease) in cash, cash equivalents and restricted cash	297	1
Cash, cash equivalents and restricted cash at beginning of period	2	3
Cash, cash equivalents and restricted cash at end of period	299	4
Supplemental cash flows information:
Interest	(78)	(72)
Income taxes, net	(51)	(24)
Significant non-cash investing and financing activities:
Accrued capital expenditures	$ 355	$ 59

XML

Summary Of Significant Accounting Policies

9 Months Ended

Sep. 30, 2022

Summary Of Significant Accounting Policies

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

NOTE 1(a) General - The interim unaudited Financial Statements included herein have been prepared pursuant to the rules and regulations of the SEC. Accordingly, certain information and note disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted, although management believes that the disclosures are adequate to make the information presented not misleading. These Financial Statements should be read in conjunction with the financial statements and the notes thereto included in the 2021 Form 10-K.

In the opinion of management, all adjustments, which unless otherwise noted are normal and recurring in nature, necessary for a fair presentation of the results of operations, financial position and cash flows have been made. Results for the nine months ended September 30, 2022 are not necessarily indicative of results that may be expected for the year ending December 31, 2022.

A change in management’s estimates or assumptions could have a material impact on financial condition and results of operations during the period in which such change occurred. Certain prior period amounts in the Financial Statements and Notes have been reclassified to conform to the current period presentation for comparative purposes.

NOTE 1(b) Cash and Cash Equivalents - At September 30, 2022, Alliant Energy’s, IPL’s and WPL’s cash and cash equivalents included $334 million, $39 million and $295 million of money market fund investments, respectively, with weighted average interest rates of 3%.

NOTE 1(c) Variable Interest Entities (VIEs) - In 2022, WPL 2022 Solar Holdco, LLC was formed as a joint venture to own and operate project companies responsible for the construction, ownership and operation of various solar generation assets. Members of the joint venture were a WPL subsidiary (the managing member) and a tax equity partner. In the second quarter of 2022, the WPL subsidiary and the tax equity partner contributed $62 million and $29 million, respectively, to WPL 2022 Solar Holdco, LLC in exchange for membership interests, and $88 million of the contributed funds were paid to WPL in exchange for equity interests in the project companies. In the second quarter of 2022, Alliant Energy and WPL consolidated this joint venture as it was a VIE in which WPL held a variable interest, and WPL controlled decisions that were significant to the joint venture’s ongoing operations and economic results (i.e., WPL was the primary beneficiary).

In August 2022, the Inflation Reduction Act of 2022 was enacted. Following its enactment, WPL evaluated the provisions of the new legislation and determined that retaining full ownership of the solar projects is expected to result in lower costs for its customers. As a result, in the third quarter of 2022, WPL and the tax equity partner terminated the tax equity partnership, and WPL returned the $29 million of initial funding to the tax equity partner. Alliant Energy and WPL no longer expect their solar generation project construction costs to be financed with capital from tax equity partners, which would result in higher rate base amounts compared to those previously approved by the PSCW for WPL’s planned approximately 1,100 MW of solar generation. Alliant Energy and WPL concluded that no disallowance of anticipated higher rate base amounts was required as of September 30, 2022 given full ownership of WPL's planned solar generation is expected to result in lower costs for WPL's customers.

Refer to Note 6 for discussion of a noncontrolling interest that was initially associated with the joint venture prior to the termination of the tax equity partnership.

IPL [Member]

Summary Of Significant Accounting Policies

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

NOTE 1(a) General - The interim unaudited Financial Statements included herein have been prepared pursuant to the rules and regulations of the SEC. Accordingly, certain information and note disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted, although management believes that the disclosures are adequate to make the information presented not misleading. These Financial Statements should be read in conjunction with the financial statements and the notes thereto included in the 2021 Form 10-K.

In the opinion of management, all adjustments, which unless otherwise noted are normal and recurring in nature, necessary for a fair presentation of the results of operations, financial position and cash flows have been made. Results for the nine months ended September 30, 2022 are not necessarily indicative of results that may be expected for the year ending December 31, 2022.

A change in management’s estimates or assumptions could have a material impact on financial condition and results of operations during the period in which such change occurred. Certain prior period amounts in the Financial Statements and Notes have been reclassified to conform to the current period presentation for comparative purposes.

NOTE 1(b) Cash and Cash Equivalents - At September 30, 2022, Alliant Energy’s, IPL’s and WPL’s cash and cash equivalents included $334 million, $39 million and $295 million of money market fund investments, respectively, with weighted average interest rates of 3%.

WPL [Member]

Summary Of Significant Accounting Policies

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

NOTE 1(a) General - The interim unaudited Financial Statements included herein have been prepared pursuant to the rules and regulations of the SEC. Accordingly, certain information and note disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted, although management believes that the disclosures are adequate to make the information presented not misleading. These Financial Statements should be read in conjunction with the financial statements and the notes thereto included in the 2021 Form 10-K.

In the opinion of management, all adjustments, which unless otherwise noted are normal and recurring in nature, necessary for a fair presentation of the results of operations, financial position and cash flows have been made. Results for the nine months ended September 30, 2022 are not necessarily indicative of results that may be expected for the year ending December 31, 2022.

A change in management’s estimates or assumptions could have a material impact on financial condition and results of operations during the period in which such change occurred. Certain prior period amounts in the Financial Statements and Notes have been reclassified to conform to the current period presentation for comparative purposes.

NOTE 1(b) Cash and Cash Equivalents - At September 30, 2022, Alliant Energy’s, IPL’s and WPL’s cash and cash equivalents included $334 million, $39 million and $295 million of money market fund investments, respectively, with weighted average interest rates of 3%.

NOTE 1(c) Variable Interest Entities (VIEs) - In 2022, WPL 2022 Solar Holdco, LLC was formed as a joint venture to own and operate project companies responsible for the construction, ownership and operation of various solar generation assets. Members of the joint venture were a WPL subsidiary (the managing member) and a tax equity partner. In the second quarter of 2022, the WPL subsidiary and the tax equity partner contributed $62 million and $29 million, respectively, to WPL 2022 Solar Holdco, LLC in exchange for membership interests, and $88 million of the contributed funds were paid to WPL in exchange for equity interests in the project companies. In the second quarter of 2022, Alliant Energy and WPL consolidated this joint venture as it was a VIE in which WPL held a variable interest, and WPL controlled decisions that were significant to the joint venture’s ongoing operations and economic results (i.e., WPL was the primary beneficiary).

In August 2022, the Inflation Reduction Act of 2022 was enacted. Following its enactment, WPL evaluated the provisions of the new legislation and determined that retaining full ownership of the solar projects is expected to result in lower costs for its customers. As a result, in the third quarter of 2022, WPL and the tax equity partner terminated the tax equity partnership, and WPL returned the $29 million of initial funding to the tax equity partner. Alliant Energy and WPL no longer expect their solar generation project construction costs to be financed with capital from tax equity partners, which would result in higher rate base amounts compared to those previously approved by the PSCW for WPL’s planned approximately 1,100 MW of solar generation. Alliant Energy and WPL concluded that no disallowance of anticipated higher rate base amounts was required as of September 30, 2022 given full ownership of WPL's planned solar generation is expected to result in lower costs for WPL's customers.

Refer to Note 6 for discussion of a noncontrolling interest that was initially associated with the joint venture prior to the termination of the tax equity partnership.

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Regulatory Matters

9 Months Ended

Sep. 30, 2022

Public Utilities, General Disclosures [Line Items]

Regulatory Matters

REGULATORY MATTERS

Regulatory Assets and Regulatory Liabilities -

Regulatory assets were comprised of the following items (in millions):

	Alliant Energy		IPL		WPL
	September 30, 2022	December 31, 2021	September 30, 2022	December 31, 2021	September 30, 2022	December 31, 2021
Tax-related	$913	$934	$842	$884	$71	$50
Pension and OPEB costs	436	462	216	228	220	234
Asset retirement obligations	145	128	104	89	41	39
Commodity cost recovery	129	42	2	2	127	40
Derivatives	102	8	67	4	35	4
Assets retired early	75	92	56	66	19	26
IPL’s DAEC PPA amendment	72	90	72	90	—	—
WPL’s Western Wisconsin gas distribution expansion investments	49	52	—	—	49	52
Other	120	132	64	80	56	52
	$2,041	$1,940	$1,423	$1,443	$618	$497

Tax-related - Refer to Note 9 for discussion of Iowa Tax Reform, which resulted in a decrease in Alliant Energy’s and IPL’s tax-related regulatory assets in the third quarter of 2022.

Commodity cost recovery - The cost recovery mechanism for WPL’s retail electric customers is based on forecasts of certain fuel-related costs expected to be incurred during forward-looking test periods and fuel monitoring ranges determined by the PSCW during each retail electric rate proceeding or in a separate fuel cost plan approval proceeding. During the nine months ended September 30, 2022, WPL’s actual fuel-related costs fell outside these fuel monitoring ranges, resulting in a $83 million deferral of higher than expected fuel-related costs as of September 30, 2022.

Derivatives - Refer to Note 11 for discussion of changes in Alliant Energy’s, IPL’s and WPL’s derivative liabilities/assets during the nine months ended September 30, 2022, which result in comparable changes to regulatory assets/liabilities on the balance sheets.

Regulatory liabilities were comprised of the following items (in millions):

	Alliant Energy		IPL		WPL
	September 30, 2022	December 31, 2021	September 30, 2022	December 31, 2021	September 30, 2022	December 31, 2021
Tax-related	$582	$585	$304	$312	$278	$273
Cost of removal obligations	398	384	258	252	140	132
Derivatives	312	166	164	77	148	89
WPL’s West Riverside liquidated damages	33	36	—	—	33	36
Electric transmission cost recovery	16	51	4	27	12	24
Other	46	49	31	23	15	26
	$1,387	$1,271	$761	$691	$626	$580

IPL [Member]

Public Utilities, General Disclosures [Line Items]

Regulatory Matters

REGULATORY MATTERS

Regulatory Assets and Regulatory Liabilities -

Regulatory assets were comprised of the following items (in millions):

	Alliant Energy		IPL		WPL
	September 30, 2022	December 31, 2021	September 30, 2022	December 31, 2021	September 30, 2022	December 31, 2021
Tax-related	$913	$934	$842	$884	$71	$50
Pension and OPEB costs	436	462	216	228	220	234
Asset retirement obligations	145	128	104	89	41	39
Commodity cost recovery	129	42	2	2	127	40
Derivatives	102	8	67	4	35	4
Assets retired early	75	92	56	66	19	26
IPL’s DAEC PPA amendment	72	90	72	90	—	—
WPL’s Western Wisconsin gas distribution expansion investments	49	52	—	—	49	52
Other	120	132	64	80	56	52
	$2,041	$1,940	$1,423	$1,443	$618	$497

Tax-related - Refer to Note 9 for discussion of Iowa Tax Reform, which resulted in a decrease in Alliant Energy’s and IPL’s tax-related regulatory assets in the third quarter of 2022.

Commodity cost recovery - The cost recovery mechanism for WPL’s retail electric customers is based on forecasts of certain fuel-related costs expected to be incurred during forward-looking test periods and fuel monitoring ranges determined by the PSCW during each retail electric rate proceeding or in a separate fuel cost plan approval proceeding. During the nine months ended September 30, 2022, WPL’s actual fuel-related costs fell outside these fuel monitoring ranges, resulting in a $83 million deferral of higher than expected fuel-related costs as of September 30, 2022.

Derivatives - Refer to Note 11 for discussion of changes in Alliant Energy’s, IPL’s and WPL’s derivative liabilities/assets during the nine months ended September 30, 2022, which result in comparable changes to regulatory assets/liabilities on the balance sheets.

Regulatory liabilities were comprised of the following items (in millions):

	Alliant Energy		IPL		WPL
	September 30, 2022	December 31, 2021	September 30, 2022	December 31, 2021	September 30, 2022	December 31, 2021
Tax-related	$582	$585	$304	$312	$278	$273
Cost of removal obligations	398	384	258	252	140	132
Derivatives	312	166	164	77	148	89
WPL’s West Riverside liquidated damages	33	36	—	—	33	36
Electric transmission cost recovery	16	51	4	27	12	24
Other	46	49	31	23	15	26
	$1,387	$1,271	$761	$691	$626	$580

WPL [Member]

Public Utilities, General Disclosures [Line Items]

Regulatory Matters

REGULATORY MATTERS

Regulatory Assets and Regulatory Liabilities -

Regulatory assets were comprised of the following items (in millions):

	Alliant Energy		IPL		WPL
	September 30, 2022	December 31, 2021	September 30, 2022	December 31, 2021	September 30, 2022	December 31, 2021
Tax-related	$913	$934	$842	$884	$71	$50
Pension and OPEB costs	436	462	216	228	220	234
Asset retirement obligations	145	128	104	89	41	39
Commodity cost recovery	129	42	2	2	127	40
Derivatives	102	8	67	4	35	4
Assets retired early	75	92	56	66	19	26
IPL’s DAEC PPA amendment	72	90	72	90	—	—
WPL’s Western Wisconsin gas distribution expansion investments	49	52	—	—	49	52
Other	120	132	64	80	56	52
	$2,041	$1,940	$1,423	$1,443	$618	$497

Tax-related - Refer to Note 9 for discussion of Iowa Tax Reform, which resulted in a decrease in Alliant Energy’s and IPL’s tax-related regulatory assets in the third quarter of 2022.

Commodity cost recovery - The cost recovery mechanism for WPL’s retail electric customers is based on forecasts of certain fuel-related costs expected to be incurred during forward-looking test periods and fuel monitoring ranges determined by the PSCW during each retail electric rate proceeding or in a separate fuel cost plan approval proceeding. During the nine months ended September 30, 2022, WPL’s actual fuel-related costs fell outside these fuel monitoring ranges, resulting in a $83 million deferral of higher than expected fuel-related costs as of September 30, 2022.

Derivatives - Refer to Note 11 for discussion of changes in Alliant Energy’s, IPL’s and WPL’s derivative liabilities/assets during the nine months ended September 30, 2022, which result in comparable changes to regulatory assets/liabilities on the balance sheets.

Regulatory liabilities were comprised of the following items (in millions):

	Alliant Energy		IPL		WPL
	September 30, 2022	December 31, 2021	September 30, 2022	December 31, 2021	September 30, 2022	December 31, 2021
Tax-related	$582	$585	$304	$312	$278	$273
Cost of removal obligations	398	384	258	252	140	132
Derivatives	312	166	164	77	148	89
WPL’s West Riverside liquidated damages	33	36	—	—	33	36
Electric transmission cost recovery	16	51	4	27	12	24
Other	46	49	31	23	15	26
	$1,387	$1,271	$761	$691	$626	$580

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Property, Plant and Equipment	9 Months Ended
	Sep. 30, 2022
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment	PROPERTY, PLANT AND EQUIPMENTIn June 2022, WPL announced revised expected timing for the retirements of its remaining coal-fired EGUs in order to help manage regional capacity and changing generation requirements across the MISO region. WPL currently expects to retire the Edgewater Generating Station (414 MW) by June 1, 2025, and Columbia Units 1 and 2 by June 1, 2026 (595 MW in aggregate). In addition, IPL currently expects to retire the coal-fired Lansing Generating Station (275 MW) in the first half of 2023. Alliant Energy, IPL and WPL are working with MISO, state regulatory commissions and other regulatory agencies, as required, to determine the timing of these actions, which are subject to change depending on operational, regulatory, market and other factors.
IPL [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment	PROPERTY, PLANT AND EQUIPMENTIn June 2022, WPL announced revised expected timing for the retirements of its remaining coal-fired EGUs in order to help manage regional capacity and changing generation requirements across the MISO region. WPL currently expects to retire the Edgewater Generating Station (414 MW) by June 1, 2025, and Columbia Units 1 and 2 by June 1, 2026 (595 MW in aggregate). In addition, IPL currently expects to retire the coal-fired Lansing Generating Station (275 MW) in the first half of 2023. Alliant Energy, IPL and WPL are working with MISO, state regulatory commissions and other regulatory agencies, as required, to determine the timing of these actions, which are subject to change depending on operational, regulatory, market and other factors.
WPL [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment	PROPERTY, PLANT AND EQUIPMENTIn June 2022, WPL announced revised expected timing for the retirements of its remaining coal-fired EGUs in order to help manage regional capacity and changing generation requirements across the MISO region. WPL currently expects to retire the Edgewater Generating Station (414 MW) by June 1, 2025, and Columbia Units 1 and 2 by June 1, 2026 (595 MW in aggregate). In addition, IPL currently expects to retire the coal-fired Lansing Generating Station (275 MW) in the first half of 2023. Alliant Energy, IPL and WPL are working with MISO, state regulatory commissions and other regulatory agencies, as required, to determine the timing of these actions, which are subject to change depending on operational, regulatory, market and other factors.

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Receivables

9 Months Ended

Sep. 30, 2022

Receivables [Line Items]

Receivables

RECEIVABLESSales 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. As of September 30, 2022, IPL had $109 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
	2022	2021	2022	2021
Maximum outstanding aggregate cash proceeds	$36	$110	$66	$110
Average outstanding aggregate cash proceeds	3	65	8	52

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

	September 30, 2022	December 31, 2021
Customer accounts receivable	$169	$125
Unbilled utility revenues	92	104
Receivables sold to third party	261	229
Less: cash proceeds	1	1
Deferred proceeds	260	228
Less: allowance for expected credit losses	12	14
Fair value of deferred proceeds	$248	$214

As of September 30, 2022, outstanding receivables past due under the Receivables Agreement were $20 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
	2022	2021	2022	2021
Collections	$670	$607	$1,731	$1,589
Write-offs, net of recoveries	3	4	6	7

IPL [Member]

Receivables [Line Items]

Receivables

RECEIVABLESSales 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. As of September 30, 2022, IPL had $109 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
	2022	2021	2022	2021
Maximum outstanding aggregate cash proceeds	$36	$110	$66	$110
Average outstanding aggregate cash proceeds	3	65	8	52

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

	September 30, 2022	December 31, 2021
Customer accounts receivable	$169	$125
Unbilled utility revenues	92	104
Receivables sold to third party	261	229
Less: cash proceeds	1	1
Deferred proceeds	260	228
Less: allowance for expected credit losses	12	14
Fair value of deferred proceeds	$248	$214

As of September 30, 2022, outstanding receivables past due under the Receivables Agreement were $20 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
	2022	2021	2022	2021
Collections	$670	$607	$1,731	$1,589
Write-offs, net of recoveries	3	4	6	7

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Investments

9 Months Ended

Sep. 30, 2022

Schedule of Equity Method Investments [Line Items]

Investments

INVESTMENTS

Unconsolidated Equity Investments - Alliant Energy’s equity (income) loss from unconsolidated investments accounted for under the equity method of accounting for the three and nine months ended September 30 was as follows (in millions):

	Three Months		Nine Months
	2022	2021	2022	2021
ATC Holdings	($7)	($12)	($29)	($34)
Other	2	(1)	(8)	(13)
	($5)	($13)	($37)	($47)

Refer to Note 13(e) for discussion of a reduction in earnings recorded in the third quarter of 2022 related to a court decision, which is currently expected to reduce the base return on equity authorized for MISO transmission owners, including ATC.

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Common Equity

9 Months Ended

Sep. 30, 2022

Common Equity [Line Items]

Common Equity

COMMON EQUITY

Common Share Activity - A summary of Alliant Energy’s common stock activity was as follows:

Shares outstanding, January 1, 2022	250,474,529
Shareowner Direct Plan	324,533
Equity-based compensation plans	222,768
Shares outstanding, September 30, 2022	251,021,830

Noncontrolling Interest - In the second quarter of 2022, WPL and the tax equity partner contributed to a joint venture associated with certain WPL solar generation projects. The tax equity partner's contributions were represented as a noncontrolling interest within total equity on Alliant Energy’s and WPL’s balance sheets as of June 30, 2022. In the third quarter of 2022, WPL and the tax equity partner terminated the tax equity partnership and WPL returned the tax equity partner’s initial contributions, resulting in the reversal of the noncontrolling interest within total equity on Alliant Energy’s and WPL’s balance sheets as of September 30, 2022. Refer to Note 1(c) for additional information.

Changes in Shareowners’ Equity - A summary of changes in shareowners’ equity was as follows (in millions):

Alliant Energy	Total Alliant Energy Common Equity
				Accumulated	Shares in
		Additional		Other	Deferred
	Common	Paid-In	Retained	Comprehensive	Compensation	Noncontrolling	Total
	Stock	Capital	Earnings	Loss	Trust	Interest	Equity
Three Months Ended September 30, 2022
Beginning balance, June 30, 2022	$3	$2,759	$3,387	$—	($12)	$29	$6,166
Net income attributable to Alliant Energy common shareowners			227				227
Common stock dividends ($0.4275 per share)			(106)				(106)
Shareowner Direct Plan issuances		6					6
Equity-based compensation plans and other		2			(1)		1
Distributions to noncontrolling interest						(29)	(29)
Ending balance, September 30, 2022	$3	$2,767	$3,508	$—	($13)	$—	$6,265

Alliant Energy	Total Alliant Energy Common Equity
				Accumulated	Shares in	Cumulative
		Additional		Other	Deferred	Preferred
	Common	Paid-In	Retained	Comprehensive	Compensation	Stock	Total
	Stock	Capital	Earnings	Loss	Trust	of IPL	Equity
Three Months Ended September 30, 2021
Beginning balance, June 30, 2021	$3	$2,722	$3,106	($1)	($11)	$200	$6,019
Net income attributable to Alliant Energy common shareowners			256				256
Common stock dividends ($0.4025 per share)			(101)				(101)
Shareowner Direct Plan issuances		6					6
Equity-based compensation plans and other		5					5
Ending balance, September 30, 2021	$3	$2,733	$3,261	($1)	($11)	$200	$6,185

Alliant Energy	Total Alliant Energy Common Equity
				Accumulated	Shares in
		Additional		Other	Deferred
	Common	Paid-In	Retained	Comprehensive	Compensation	Noncontrolling	Total
	Stock	Capital	Earnings	Loss	Trust	Interest	Equity
Nine Months Ended September 30, 2022
Beginning balance, December 31, 2021	$3	$2,749	$3,250	$—	($12)	$—	$5,990
Net income attributable to Alliant Energy common shareowners			579				579
Common stock dividends ($1.2825 per share)			(322)				(322)
Shareowner Direct Plan issuances		19					19
Equity-based compensation plans and other		(1)	1		(1)		(1)
Contributions from noncontrolling interest						29	29
Distributions to noncontrolling interest						(29)	(29)
Ending balance, September 30, 2022	$3	$2,767	$3,508	$—	($13)	$—	$6,265

Alliant Energy	Total Alliant Energy Common Equity
				Accumulated	Shares in	Cumulative
		Additional		Other	Deferred	Preferred
	Common	Paid-In	Retained	Comprehensive	Compensation	Stock	Total
	Stock	Capital	Earnings	Loss	Trust	of IPL	Equity
Nine Months Ended September 30, 2021
Beginning balance, December 31, 2020	$2	$2,704	$2,994	($1)	($11)	$200	$5,888
Net income attributable to Alliant Energy common shareowners			571				571
Common stock dividends ($1.2075 per share)			(304)				(304)
Shareowner Direct Plan issuances	1	21					22
Equity-based compensation plans and other		8					8
Ending balance, September 30, 2021	$3	$2,733	$3,261	($1)	($11)	$200	$6,185

IPL	Total IPL Common Equity
		Additional		Cumulative
	Common	Paid-In	Retained	Preferred	Total
	Stock	Capital	Earnings	Stock	Equity
Three Months Ended September 30, 2022
Beginning balance, June 30, 2022	$33	$2,807	$942	$—	$3,782
Net income available for common stock			154		154
Common stock dividends			(80)		(80)
Ending balance, September 30, 2022	$33	$2,807	$1,016	$—	$3,856
Three Months Ended September 30, 2021
Beginning balance, June 30, 2021	$33	$2,802	$944	$200	$3,979
Net income available for common stock			157		157
Common stock dividends			(101)		(101)
Ending balance, September 30, 2021	$33	$2,802	$1,000	$200	$4,035

IPL	Total IPL Common Equity
		Additional		Cumulative
	Common	Paid-In	Retained	Preferred	Total
	Stock	Capital	Earnings	Stock	Equity
Nine Months Ended September 30, 2022
Beginning balance, December 31, 2021	$33	$2,807	$929	$—	$3,769
Net income available for common stock			327		327
Common stock dividends			(240)		(240)
Ending balance, September 30, 2022	$33	$2,807	$1,016	$—	$3,856
Nine Months Ended September 30, 2021
Beginning balance, December 31, 2020	$33	$2,752	$979	$200	$3,964
Net income available for common stock			322		322
Common stock dividends			(301)		(301)
Capital contributions from parent		50			50
Ending balance, September 30, 2021	$33	$2,802	$1,000	$200	$4,035

WPL	Total WPL Common Equity
		Additional
	Common	Paid-In	Retained	Noncontrolling	Total
	Stock	Capital	Earnings	Interest	Equity
Three Months Ended September 30, 2022
Beginning balance, June 30, 2022	$66	$1,968	$1,120	$29	$3,183
Net income			91		91
Common stock dividends			(44)		(44)
Capital contributions from parent		155			155
Distributions to noncontrolling interest				(29)	(29)
Ending balance, September 30, 2022	$66	$2,123	$1,167	$—	$3,356
Three Months Ended September 30, 2021
Beginning balance, June 30, 2021	$66	$1,669	$990	$—	$2,725
Net income			93		93
Common stock dividends			(41)		(41)
Capital contributions from parent		35			35
Ending balance, September 30, 2021	$66	$1,704	$1,042	$—	$2,812

WPL	Total WPL Common Equity
		Additional
	Common	Paid-In	Retained	Noncontrolling	Total
	Stock	Capital	Earnings	Interest	Equity
Nine Months Ended September 30, 2022
Beginning balance, December 31, 2021	$66	$1,704	$1,053	$—	$2,823
Net income			247		247
Common stock dividends			(133)		(133)
Capital contributions from parent		420			420
Contributions from noncontrolling interest				29	29
Distributions to noncontrolling interest				(29)	(29)
Other		(1)			(1)
Ending balance, September 30, 2022	$66	$2,123	$1,167	$—	$3,356
Nine Months Ended September 30, 2021
Beginning balance, December 31, 2020	$66	$1,459	$953	$—	$2,478
Net income			215		215
Common stock dividends			(126)		(126)
Capital contributions from parent		245			245
Ending balance, September 30, 2021	$66	$1,704	$1,042	$—	$2,812

IPL [Member]

Common Equity [Line Items]

Common Equity

COMMON EQUITY

Common Share Activity - A summary of Alliant Energy’s common stock activity was as follows:

Shares outstanding, January 1, 2022	250,474,529
Shareowner Direct Plan	324,533
Equity-based compensation plans	222,768
Shares outstanding, September 30, 2022	251,021,830

Noncontrolling Interest - In the second quarter of 2022, WPL and the tax equity partner contributed to a joint venture associated with certain WPL solar generation projects. The tax equity partner's contributions were represented as a noncontrolling interest within total equity on Alliant Energy’s and WPL’s balance sheets as of June 30, 2022. In the third quarter of 2022, WPL and the tax equity partner terminated the tax equity partnership and WPL returned the tax equity partner’s initial contributions, resulting in the reversal of the noncontrolling interest within total equity on Alliant Energy’s and WPL’s balance sheets as of September 30, 2022. Refer to Note 1(c) for additional information.

Changes in Shareowners’ Equity - A summary of changes in shareowners’ equity was as follows (in millions):

Alliant Energy	Total Alliant Energy Common Equity
				Accumulated	Shares in
		Additional		Other	Deferred
	Common	Paid-In	Retained	Comprehensive	Compensation	Noncontrolling	Total
	Stock	Capital	Earnings	Loss	Trust	Interest	Equity
Three Months Ended September 30, 2022
Beginning balance, June 30, 2022	$3	$2,759	$3,387	$—	($12)	$29	$6,166
Net income attributable to Alliant Energy common shareowners			227				227
Common stock dividends ($0.4275 per share)			(106)				(106)
Shareowner Direct Plan issuances		6					6
Equity-based compensation plans and other		2			(1)		1
Distributions to noncontrolling interest						(29)	(29)
Ending balance, September 30, 2022	$3	$2,767	$3,508	$—	($13)	$—	$6,265

Alliant Energy	Total Alliant Energy Common Equity
				Accumulated	Shares in	Cumulative
		Additional		Other	Deferred	Preferred
	Common	Paid-In	Retained	Comprehensive	Compensation	Stock	Total
	Stock	Capital	Earnings	Loss	Trust	of IPL	Equity
Three Months Ended September 30, 2021
Beginning balance, June 30, 2021	$3	$2,722	$3,106	($1)	($11)	$200	$6,019
Net income attributable to Alliant Energy common shareowners			256				256
Common stock dividends ($0.4025 per share)			(101)				(101)
Shareowner Direct Plan issuances		6					6
Equity-based compensation plans and other		5					5
Ending balance, September 30, 2021	$3	$2,733	$3,261	($1)	($11)	$200	$6,185

Alliant Energy	Total Alliant Energy Common Equity
				Accumulated	Shares in
		Additional		Other	Deferred
	Common	Paid-In	Retained	Comprehensive	Compensation	Noncontrolling	Total
	Stock	Capital	Earnings	Loss	Trust	Interest	Equity
Nine Months Ended September 30, 2022
Beginning balance, December 31, 2021	$3	$2,749	$3,250	$—	($12)	$—	$5,990
Net income attributable to Alliant Energy common shareowners			579				579
Common stock dividends ($1.2825 per share)			(322)				(322)
Shareowner Direct Plan issuances		19					19
Equity-based compensation plans and other		(1)	1		(1)		(1)
Contributions from noncontrolling interest						29	29
Distributions to noncontrolling interest						(29)	(29)
Ending balance, September 30, 2022	$3	$2,767	$3,508	$—	($13)	$—	$6,265

Alliant Energy	Total Alliant Energy Common Equity
				Accumulated	Shares in	Cumulative
		Additional		Other	Deferred	Preferred
	Common	Paid-In	Retained	Comprehensive	Compensation	Stock	Total
	Stock	Capital	Earnings	Loss	Trust	of IPL	Equity
Nine Months Ended September 30, 2021
Beginning balance, December 31, 2020	$2	$2,704	$2,994	($1)	($11)	$200	$5,888
Net income attributable to Alliant Energy common shareowners			571				571
Common stock dividends ($1.2075 per share)			(304)				(304)
Shareowner Direct Plan issuances	1	21					22
Equity-based compensation plans and other		8					8
Ending balance, September 30, 2021	$3	$2,733	$3,261	($1)	($11)	$200	$6,185

IPL	Total IPL Common Equity
		Additional		Cumulative
	Common	Paid-In	Retained	Preferred	Total
	Stock	Capital	Earnings	Stock	Equity
Three Months Ended September 30, 2022
Beginning balance, June 30, 2022	$33	$2,807	$942	$—	$3,782
Net income available for common stock			154		154
Common stock dividends			(80)		(80)
Ending balance, September 30, 2022	$33	$2,807	$1,016	$—	$3,856
Three Months Ended September 30, 2021
Beginning balance, June 30, 2021	$33	$2,802	$944	$200	$3,979
Net income available for common stock			157		157
Common stock dividends			(101)		(101)
Ending balance, September 30, 2021	$33	$2,802	$1,000	$200	$4,035

IPL	Total IPL Common Equity
		Additional		Cumulative
	Common	Paid-In	Retained	Preferred	Total
	Stock	Capital	Earnings	Stock	Equity
Nine Months Ended September 30, 2022
Beginning balance, December 31, 2021	$33	$2,807	$929	$—	$3,769
Net income available for common stock			327		327
Common stock dividends			(240)		(240)
Ending balance, September 30, 2022	$33	$2,807	$1,016	$—	$3,856
Nine Months Ended September 30, 2021
Beginning balance, December 31, 2020	$33	$2,752	$979	$200	$3,964
Net income available for common stock			322		322
Common stock dividends			(301)		(301)
Capital contributions from parent		50			50
Ending balance, September 30, 2021	$33	$2,802	$1,000	$200	$4,035

WPL	Total WPL Common Equity
		Additional
	Common	Paid-In	Retained	Noncontrolling	Total
	Stock	Capital	Earnings	Interest	Equity
Three Months Ended September 30, 2022
Beginning balance, June 30, 2022	$66	$1,968	$1,120	$29	$3,183
Net income			91		91
Common stock dividends			(44)		(44)
Capital contributions from parent		155			155
Distributions to noncontrolling interest				(29)	(29)
Ending balance, September 30, 2022	$66	$2,123	$1,167	$—	$3,356
Three Months Ended September 30, 2021
Beginning balance, June 30, 2021	$66	$1,669	$990	$—	$2,725
Net income			93		93
Common stock dividends			(41)		(41)
Capital contributions from parent		35			35
Ending balance, September 30, 2021	$66	$1,704	$1,042	$—	$2,812

WPL	Total WPL Common Equity
		Additional
	Common	Paid-In	Retained	Noncontrolling	Total
	Stock	Capital	Earnings	Interest	Equity
Nine Months Ended September 30, 2022
Beginning balance, December 31, 2021	$66	$1,704	$1,053	$—	$2,823
Net income			247		247
Common stock dividends			(133)		(133)
Capital contributions from parent		420			420
Contributions from noncontrolling interest				29	29
Distributions to noncontrolling interest				(29)	(29)
Other		(1)			(1)
Ending balance, September 30, 2022	$66	$2,123	$1,167	$—	$3,356
Nine Months Ended September 30, 2021
Beginning balance, December 31, 2020	$66	$1,459	$953	$—	$2,478
Net income			215		215
Common stock dividends			(126)		(126)
Capital contributions from parent		245			245
Ending balance, September 30, 2021	$66	$1,704	$1,042	$—	$2,812

WPL [Member]

Common Equity [Line Items]

Common Equity

COMMON EQUITY

Common Share Activity - A summary of Alliant Energy’s common stock activity was as follows:

Shares outstanding, January 1, 2022	250,474,529
Shareowner Direct Plan	324,533
Equity-based compensation plans	222,768
Shares outstanding, September 30, 2022	251,021,830

Noncontrolling Interest - In the second quarter of 2022, WPL and the tax equity partner contributed to a joint venture associated with certain WPL solar generation projects. The tax equity partner's contributions were represented as a noncontrolling interest within total equity on Alliant Energy’s and WPL’s balance sheets as of June 30, 2022. In the third quarter of 2022, WPL and the tax equity partner terminated the tax equity partnership and WPL returned the tax equity partner’s initial contributions, resulting in the reversal of the noncontrolling interest within total equity on Alliant Energy’s and WPL’s balance sheets as of September 30, 2022. Refer to Note 1(c) for additional information.

Changes in Shareowners’ Equity - A summary of changes in shareowners’ equity was as follows (in millions):

Alliant Energy	Total Alliant Energy Common Equity
				Accumulated	Shares in
		Additional		Other	Deferred
	Common	Paid-In	Retained	Comprehensive	Compensation	Noncontrolling	Total
	Stock	Capital	Earnings	Loss	Trust	Interest	Equity
Three Months Ended September 30, 2022
Beginning balance, June 30, 2022	$3	$2,759	$3,387	$—	($12)	$29	$6,166
Net income attributable to Alliant Energy common shareowners			227				227
Common stock dividends ($0.4275 per share)			(106)				(106)
Shareowner Direct Plan issuances		6					6
Equity-based compensation plans and other		2			(1)		1
Distributions to noncontrolling interest						(29)	(29)
Ending balance, September 30, 2022	$3	$2,767	$3,508	$—	($13)	$—	$6,265

Alliant Energy	Total Alliant Energy Common Equity
				Accumulated	Shares in	Cumulative
		Additional		Other	Deferred	Preferred
	Common	Paid-In	Retained	Comprehensive	Compensation	Stock	Total
	Stock	Capital	Earnings	Loss	Trust	of IPL	Equity
Three Months Ended September 30, 2021
Beginning balance, June 30, 2021	$3	$2,722	$3,106	($1)	($11)	$200	$6,019
Net income attributable to Alliant Energy common shareowners			256				256
Common stock dividends ($0.4025 per share)			(101)				(101)
Shareowner Direct Plan issuances		6					6
Equity-based compensation plans and other		5					5
Ending balance, September 30, 2021	$3	$2,733	$3,261	($1)	($11)	$200	$6,185

Alliant Energy	Total Alliant Energy Common Equity
				Accumulated	Shares in
		Additional		Other	Deferred
	Common	Paid-In	Retained	Comprehensive	Compensation	Noncontrolling	Total
	Stock	Capital	Earnings	Loss	Trust	Interest	Equity
Nine Months Ended September 30, 2022
Beginning balance, December 31, 2021	$3	$2,749	$3,250	$—	($12)	$—	$5,990
Net income attributable to Alliant Energy common shareowners			579				579
Common stock dividends ($1.2825 per share)			(322)				(322)
Shareowner Direct Plan issuances		19					19
Equity-based compensation plans and other		(1)	1		(1)		(1)
Contributions from noncontrolling interest						29	29
Distributions to noncontrolling interest						(29)	(29)
Ending balance, September 30, 2022	$3	$2,767	$3,508	$—	($13)	$—	$6,265

Alliant Energy	Total Alliant Energy Common Equity
				Accumulated	Shares in	Cumulative
		Additional		Other	Deferred	Preferred
	Common	Paid-In	Retained	Comprehensive	Compensation	Stock	Total
	Stock	Capital	Earnings	Loss	Trust	of IPL	Equity
Nine Months Ended September 30, 2021
Beginning balance, December 31, 2020	$2	$2,704	$2,994	($1)	($11)	$200	$5,888
Net income attributable to Alliant Energy common shareowners			571				571
Common stock dividends ($1.2075 per share)			(304)				(304)
Shareowner Direct Plan issuances	1	21					22
Equity-based compensation plans and other		8					8
Ending balance, September 30, 2021	$3	$2,733	$3,261	($1)	($11)	$200	$6,185

IPL	Total IPL Common Equity
		Additional		Cumulative
	Common	Paid-In	Retained	Preferred	Total
	Stock	Capital	Earnings	Stock	Equity
Three Months Ended September 30, 2022
Beginning balance, June 30, 2022	$33	$2,807	$942	$—	$3,782
Net income available for common stock			154		154
Common stock dividends			(80)		(80)
Ending balance, September 30, 2022	$33	$2,807	$1,016	$—	$3,856
Three Months Ended September 30, 2021
Beginning balance, June 30, 2021	$33	$2,802	$944	$200	$3,979
Net income available for common stock			157		157
Common stock dividends			(101)		(101)
Ending balance, September 30, 2021	$33	$2,802	$1,000	$200	$4,035

IPL	Total IPL Common Equity
		Additional		Cumulative
	Common	Paid-In	Retained	Preferred	Total
	Stock	Capital	Earnings	Stock	Equity
Nine Months Ended September 30, 2022
Beginning balance, December 31, 2021	$33	$2,807	$929	$—	$3,769
Net income available for common stock			327		327
Common stock dividends			(240)		(240)
Ending balance, September 30, 2022	$33	$2,807	$1,016	$—	$3,856
Nine Months Ended September 30, 2021
Beginning balance, December 31, 2020	$33	$2,752	$979	$200	$3,964
Net income available for common stock			322		322
Common stock dividends			(301)		(301)
Capital contributions from parent		50			50
Ending balance, September 30, 2021	$33	$2,802	$1,000	$200	$4,035

WPL	Total WPL Common Equity
		Additional
	Common	Paid-In	Retained	Noncontrolling	Total
	Stock	Capital	Earnings	Interest	Equity
Three Months Ended September 30, 2022
Beginning balance, June 30, 2022	$66	$1,968	$1,120	$29	$3,183
Net income			91		91
Common stock dividends			(44)		(44)
Capital contributions from parent		155			155
Distributions to noncontrolling interest				(29)	(29)
Ending balance, September 30, 2022	$66	$2,123	$1,167	$—	$3,356
Three Months Ended September 30, 2021
Beginning balance, June 30, 2021	$66	$1,669	$990	$—	$2,725
Net income			93		93
Common stock dividends			(41)		(41)
Capital contributions from parent		35			35
Ending balance, September 30, 2021	$66	$1,704	$1,042	$—	$2,812

WPL	Total WPL Common Equity
		Additional
	Common	Paid-In	Retained	Noncontrolling	Total
	Stock	Capital	Earnings	Interest	Equity
Nine Months Ended September 30, 2022
Beginning balance, December 31, 2021	$66	$1,704	$1,053	$—	$2,823
Net income			247		247
Common stock dividends			(133)		(133)
Capital contributions from parent		420			420
Contributions from noncontrolling interest				29	29
Distributions to noncontrolling interest				(29)	(29)
Other		(1)			(1)
Ending balance, September 30, 2022	$66	$2,123	$1,167	$—	$3,356
Nine Months Ended September 30, 2021
Beginning balance, December 31, 2020	$66	$1,459	$953	$—	$2,478
Net income			215		215
Common stock dividends			(126)		(126)
Capital contributions from parent		245			245
Ending balance, September 30, 2021	$66	$1,704	$1,042	$—	$2,812

XML

Debt

9 Months Ended

Sep. 30, 2022

Debt [Line Items]

Debt

DEBT

NOTE 7(a) Short-term Debt - Information regarding Alliant Energy’s, IPL’s and WPL’s commercial paper classified as short-term debt was as follows (dollars in millions):

September 30, 2022	Alliant Energy	IPL	WPL
Amount outstanding	$383	$—	$—
Weighted average interest rates	3.4%	N/A	N/A
Available credit facility capacity	$617	$250	$300

	Alliant Energy		IPL		WPL
Three Months Ended September 30	2022	2021	2022	2021	2022	2021
Maximum amount outstanding (based on daily outstanding balances)	$449	$648	$—	$8	$251	$320
Average amount outstanding (based on daily outstanding balances)	$353	$560	$—	$—	$110	$221
Weighted average interest rates	2.4%	0.2%	—%	0.2%	2.0%	0.1%
Nine Months Ended September 30
Maximum amount outstanding (based on daily outstanding balances)	$577	$648	$—	$19	$252	$320
Average amount outstanding (based on daily outstanding balances)	$377	$479	$—	$—	$160	$196
Weighted average interest rates	1.2%	0.2%	—%	0.2%	0.9%	0.1%

In October 2022, Alliant Energy, IPL and WPL reallocated credit facility capacity amounts to $500 million for Alliant Energy at the parent company level, $200 million for IPL and $300 million for WPL, within the $1 billion total commitment.

NOTE 7(b) Long-term Debt - In February 2022, AEF issued $350 million of 3.6% senior notes due 2032. The net proceeds from the issuance were used to reduce Alliant Energy’s outstanding commercial paper and for general corporate purposes. In March 2022, AEF entered into a $300 million variable rate (3% as of September 30, 2022) term loan credit agreement (with Alliant Energy as guarantor), which expires in March 2024, and used the borrowings under this agreement to retire its $300 million variable rate term loan credit agreement that expired in March 2022.

In August 2022, WPL issued $600 million of 3.95% debentures due 2032. The debentures were issued as green bonds, and an amount equal to or in excess of the net proceeds will be disbursed for the development and acquisition of WPL’s solar EGUs.

In September 2022, Corporate Services retired its $75 million, 3.45% senior notes due 2022.

IPL [Member]

Debt [Line Items]

Debt

DEBT

NOTE 7(a) Short-term Debt - Information regarding Alliant Energy’s, IPL’s and WPL’s commercial paper classified as short-term debt was as follows (dollars in millions):

September 30, 2022	Alliant Energy	IPL	WPL
Amount outstanding	$383	$—	$—
Weighted average interest rates	3.4%	N/A	N/A
Available credit facility capacity	$617	$250	$300

	Alliant Energy		IPL		WPL
Three Months Ended September 30	2022	2021	2022	2021	2022	2021
Maximum amount outstanding (based on daily outstanding balances)	$449	$648	$—	$8	$251	$320
Average amount outstanding (based on daily outstanding balances)	$353	$560	$—	$—	$110	$221
Weighted average interest rates	2.4%	0.2%	—%	0.2%	2.0%	0.1%
Nine Months Ended September 30
Maximum amount outstanding (based on daily outstanding balances)	$577	$648	$—	$19	$252	$320
Average amount outstanding (based on daily outstanding balances)	$377	$479	$—	$—	$160	$196
Weighted average interest rates	1.2%	0.2%	—%	0.2%	0.9%	0.1%

In October 2022, Alliant Energy, IPL and WPL reallocated credit facility capacity amounts to $500 million for Alliant Energy at the parent company level, $200 million for IPL and $300 million for WPL, within the $1 billion total commitment.

WPL [Member]

Debt [Line Items]

Debt

DEBT

NOTE 7(a) Short-term Debt - Information regarding Alliant Energy’s, IPL’s and WPL’s commercial paper classified as short-term debt was as follows (dollars in millions):

September 30, 2022	Alliant Energy	IPL	WPL
Amount outstanding	$383	$—	$—
Weighted average interest rates	3.4%	N/A	N/A
Available credit facility capacity	$617	$250	$300

	Alliant Energy		IPL		WPL
Three Months Ended September 30	2022	2021	2022	2021	2022	2021
Maximum amount outstanding (based on daily outstanding balances)	$449	$648	$—	$8	$251	$320
Average amount outstanding (based on daily outstanding balances)	$353	$560	$—	$—	$110	$221
Weighted average interest rates	2.4%	0.2%	—%	0.2%	2.0%	0.1%
Nine Months Ended September 30
Maximum amount outstanding (based on daily outstanding balances)	$577	$648	$—	$19	$252	$320
Average amount outstanding (based on daily outstanding balances)	$377	$479	$—	$—	$160	$196
Weighted average interest rates	1.2%	0.2%	—%	0.2%	0.9%	0.1%

In October 2022, Alliant Energy, IPL and WPL reallocated credit facility capacity amounts to $500 million for Alliant Energy at the parent company level, $200 million for IPL and $300 million for WPL, within the $1 billion total commitment.

NOTE 7(b) Long-term Debt - In February 2022, AEF issued $350 million of 3.6% senior notes due 2032. The net proceeds from the issuance were used to reduce Alliant Energy’s outstanding commercial paper and for general corporate purposes. In March 2022, AEF entered into a $300 million variable rate (3% as of September 30, 2022) term loan credit agreement (with Alliant Energy as guarantor), which expires in March 2024, and used the borrowings under this agreement to retire its $300 million variable rate term loan credit agreement that expired in March 2022.

In August 2022, WPL issued $600 million of 3.95% debentures due 2032. The debentures were issued as green bonds, and an amount equal to or in excess of the net proceeds will be disbursed for the development and acquisition of WPL’s solar EGUs.

In September 2022, Corporate Services retired its $75 million, 3.45% senior notes due 2022.

XML

Revenues

9 Months Ended

Sep. 30, 2022

Disaggregation of Revenue [Line Items]

Revenues from Contracts with Customers

REVENUES

Disaggregation of revenues from contracts with customers, which correlates to revenues for each reportable segment, was as follows (in millions):

	Alliant Energy		IPL		WPL
Three Months Ended September 30	2022	2021	2022	2021	2022	2021
Electric Utility:
Retail - residential	$376	$348	$222	$207	$154	$141
Retail - commercial	243	232	165	160	78	72
Retail - industrial	289	265	172	158	117	107
Wholesale	68	55	19	18	49	37
Bulk power and other	63	39	18	12	45	27
Total Electric Utility	1,039	939	596	555	443	384
Gas Utility:
Retail - residential	28	24	14	14	14	10
Retail - commercial	18	13	8	8	10	5
Retail - industrial	4	3	3	3	1	—
Transportation/other	12	10	8	6	4	4
Total Gas Utility	62	50	33	31	29	19
Other Utility:
Steam	9	9	9	9	—	—
Other utility	2	4	2	4	—	—
Total Other Utility	11	13	11	13	—	—
Non-Utility and Other:
Travero and other	23	22	—	—	—	—
Total Non-Utility and Other	23	22	—	—	—	—
Total revenues	$1,135	$1,024	$640	$599	$472	$403

	Alliant Energy		IPL		WPL
Nine Months Ended September 30	2022	2021	2022	2021	2022	2021
Electric Utility:
Retail - residential	$956	$868	$529	$488	$427	$380
Retail - commercial	628	579	411	385	217	194
Retail - industrial	743	677	418	386	325	291
Wholesale	168	142	49	44	119	98
Bulk power and other	129	91	31	40	98	51
Total Electric Utility	2,624	2,357	1,438	1,343	1,186	1,014
Gas Utility:
Retail - residential	237	162	127	90	110	72
Retail - commercial	127	85	62	47	65	38
Retail - industrial	15	11	10	8	5	3
Transportation/other	39	31	25	20	14	11
Total Gas Utility	418	289	224	165	194	124
Other Utility:
Steam	29	27	29	27	—	—
Other utility	6	9	5	8	1	1
Total Other Utility	35	36	34	35	1	1
Non-Utility and Other:
Travero and other	70	60	—	—	—	—
Total Non-Utility and Other	70	60	—	—	—	—
Total revenues	$3,147	$2,742	$1,696	$1,543	$1,381	$1,139

IPL [Member]

Disaggregation of Revenue [Line Items]

Revenues from Contracts with Customers

REVENUES

Disaggregation of revenues from contracts with customers, which correlates to revenues for each reportable segment, was as follows (in millions):

	Alliant Energy		IPL		WPL
Three Months Ended September 30	2022	2021	2022	2021	2022	2021
Electric Utility:
Retail - residential	$376	$348	$222	$207	$154	$141
Retail - commercial	243	232	165	160	78	72
Retail - industrial	289	265	172	158	117	107
Wholesale	68	55	19	18	49	37
Bulk power and other	63	39	18	12	45	27
Total Electric Utility	1,039	939	596	555	443	384
Gas Utility:
Retail - residential	28	24	14	14	14	10
Retail - commercial	18	13	8	8	10	5
Retail - industrial	4	3	3	3	1	—
Transportation/other	12	10	8	6	4	4
Total Gas Utility	62	50	33	31	29	19
Other Utility:
Steam	9	9	9	9	—	—
Other utility	2	4	2	4	—	—
Total Other Utility	11	13	11	13	—	—
Non-Utility and Other:
Travero and other	23	22	—	—	—	—
Total Non-Utility and Other	23	22	—	—	—	—
Total revenues	$1,135	$1,024	$640	$599	$472	$403

	Alliant Energy		IPL		WPL
Nine Months Ended September 30	2022	2021	2022	2021	2022	2021
Electric Utility:
Retail - residential	$956	$868	$529	$488	$427	$380
Retail - commercial	628	579	411	385	217	194
Retail - industrial	743	677	418	386	325	291
Wholesale	168	142	49	44	119	98
Bulk power and other	129	91	31	40	98	51
Total Electric Utility	2,624	2,357	1,438	1,343	1,186	1,014
Gas Utility:
Retail - residential	237	162	127	90	110	72
Retail - commercial	127	85	62	47	65	38
Retail - industrial	15	11	10	8	5	3
Transportation/other	39	31	25	20	14	11
Total Gas Utility	418	289	224	165	194	124
Other Utility:
Steam	29	27	29	27	—	—
Other utility	6	9	5	8	1	1
Total Other Utility	35	36	34	35	1	1
Non-Utility and Other:
Travero and other	70	60	—	—	—	—
Total Non-Utility and Other	70	60	—	—	—	—
Total revenues	$3,147	$2,742	$1,696	$1,543	$1,381	$1,139

WPL [Member]

Disaggregation of Revenue [Line Items]

Revenues from Contracts with Customers

REVENUES

Disaggregation of revenues from contracts with customers, which correlates to revenues for each reportable segment, was as follows (in millions):

	Alliant Energy		IPL		WPL
Three Months Ended September 30	2022	2021	2022	2021	2022	2021
Electric Utility:
Retail - residential	$376	$348	$222	$207	$154	$141
Retail - commercial	243	232	165	160	78	72
Retail - industrial	289	265	172	158	117	107
Wholesale	68	55	19	18	49	37
Bulk power and other	63	39	18	12	45	27
Total Electric Utility	1,039	939	596	555	443	384
Gas Utility:
Retail - residential	28	24	14	14	14	10
Retail - commercial	18	13	8	8	10	5
Retail - industrial	4	3	3	3	1	—
Transportation/other	12	10	8	6	4	4
Total Gas Utility	62	50	33	31	29	19
Other Utility:
Steam	9	9	9	9	—	—
Other utility	2	4	2	4	—	—
Total Other Utility	11	13	11	13	—	—
Non-Utility and Other:
Travero and other	23	22	—	—	—	—
Total Non-Utility and Other	23	22	—	—	—	—
Total revenues	$1,135	$1,024	$640	$599	$472	$403

	Alliant Energy		IPL		WPL
Nine Months Ended September 30	2022	2021	2022	2021	2022	2021
Electric Utility:
Retail - residential	$956	$868	$529	$488	$427	$380
Retail - commercial	628	579	411	385	217	194
Retail - industrial	743	677	418	386	325	291
Wholesale	168	142	49	44	119	98
Bulk power and other	129	91	31	40	98	51
Total Electric Utility	2,624	2,357	1,438	1,343	1,186	1,014
Gas Utility:
Retail - residential	237	162	127	90	110	72
Retail - commercial	127	85	62	47	65	38
Retail - industrial	15	11	10	8	5	3
Transportation/other	39	31	25	20	14	11
Total Gas Utility	418	289	224	165	194	124
Other Utility:
Steam	29	27	29	27	—	—
Other utility	6	9	5	8	1	1
Total Other Utility	35	36	34	35	1	1
Non-Utility and Other:
Travero and other	70	60	—	—	—	—
Total Non-Utility and Other	70	60	—	—	—	—
Total revenues	$3,147	$2,742	$1,696	$1,543	$1,381	$1,139

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Income Taxes

9 Months Ended

Sep. 30, 2022

Income Taxes [Line Items]

Income Taxes

INCOME TAXESIncome Tax Rates - Overall effective income tax rates, which were computed by dividing income tax expense (benefit) by income before income taxes, were as follows. The effective income tax rates were different than the federal statutory rate primarily due to state income taxes, production tax credits, amortization of excess deferred taxes and the effect of rate-making on property-related differences. The increases in Alliant Energy’s and WPL’s overall effective income tax rates for the three

and nine months ended September 30, 2022 compared to the same periods in 2021 were primarily due to decreased amortization of excess deferred taxes primarily at WPL.

	Alliant Energy				IPL				WPL
	Three Months		Nine Months		Three Months		Nine Months		Three Months		Nine Months
	2022	2021	2022	2021	2022	2021	2022	2021	2022	2021	2022	2021
Overall income tax rate	6%	(9%)	4%	(13%)	(12%)	(8%)	(14%)	(11%)	15%	(19%)	17%	(24%)

Deferred Tax Assets and Liabilities -

Carryforwards - In the third quarter of 2022, Alliant Energy, IPL and WPL fully utilized their respective federal net operating losses carryforwards. At September 30, 2022, the remaining carryforwards and expiration dates were estimated as follows (in millions):

	Range of Expiration Dates	Alliant Energy	IPL	WPL
State net operating losses	2022-2042	$500	$9	$2
Federal tax credits	2022-2042	655	437	208

Iowa Tax Reform - In March 2022, Iowa tax reform was enacted. Annually, and by each November 1, the Iowa Department of Revenue will establish corporate income tax rates for the next tax year based on net corporate income tax receipts for the prior tax year, and reduce such rates if certain state income tax revenue triggers are satisfied. These corporate income tax rate reductions are currently expected to occur over a period of several years, with a target corporate income tax rate of 5.5%, compared to the current 9.8% Iowa corporate income tax rate. In September 2022, the Iowa Department of Revenue announced an Iowa corporate income tax rate of 8.4%, effective January 1, 2023. Deferred tax assets and liabilities are measured at the enacted tax rate expected to be applied when temporary differences are to be realized or settled. Given the announcement of the new Iowa corporate income tax rate, Alliant Energy’s and IPL’s deferred tax liabilities were remeasured based upon the new rate effective January 1, 2023, which resulted in a $76 million reduction of Alliant Energy’s and IPL’s tax-related regulatory assets and a decrease in their deferred tax liabilities in the third quarter of 2022. The reduction in tax-related regulatory assets is expected to provide cost benefits to IPL’s customers in the future. Alliant Energy parent company’s deferred tax assets were remeasured based upon the new rate effective January 1, 2023, which resulted in a charge of $8 million recorded to income tax expense in Alliant Energy’s income statement and a decrease in deferred income tax assets on Alliant Energy’s balance sheet in the third quarter of 2022. Alliant Energy is currently unable to predict with certainty the timing or amount of any future rate reductions.

IPL [Member]

Income Taxes [Line Items]

Income Taxes

INCOME TAXESIncome Tax Rates - Overall effective income tax rates, which were computed by dividing income tax expense (benefit) by income before income taxes, were as follows. The effective income tax rates were different than the federal statutory rate primarily due to state income taxes, production tax credits, amortization of excess deferred taxes and the effect of rate-making on property-related differences. The increases in Alliant Energy’s and WPL’s overall effective income tax rates for the three

and nine months ended September 30, 2022 compared to the same periods in 2021 were primarily due to decreased amortization of excess deferred taxes primarily at WPL.

	Alliant Energy				IPL				WPL
	Three Months		Nine Months		Three Months		Nine Months		Three Months		Nine Months
	2022	2021	2022	2021	2022	2021	2022	2021	2022	2021	2022	2021
Overall income tax rate	6%	(9%)	4%	(13%)	(12%)	(8%)	(14%)	(11%)	15%	(19%)	17%	(24%)

Deferred Tax Assets and Liabilities -

Carryforwards - In the third quarter of 2022, Alliant Energy, IPL and WPL fully utilized their respective federal net operating losses carryforwards. At September 30, 2022, the remaining carryforwards and expiration dates were estimated as follows (in millions):

	Range of Expiration Dates	Alliant Energy	IPL	WPL
State net operating losses	2022-2042	$500	$9	$2
Federal tax credits	2022-2042	655	437	208

Iowa Tax Reform - In March 2022, Iowa tax reform was enacted. Annually, and by each November 1, the Iowa Department of Revenue will establish corporate income tax rates for the next tax year based on net corporate income tax receipts for the prior tax year, and reduce such rates if certain state income tax revenue triggers are satisfied. These corporate income tax rate reductions are currently expected to occur over a period of several years, with a target corporate income tax rate of 5.5%, compared to the current 9.8% Iowa corporate income tax rate. In September 2022, the Iowa Department of Revenue announced an Iowa corporate income tax rate of 8.4%, effective January 1, 2023. Deferred tax assets and liabilities are measured at the enacted tax rate expected to be applied when temporary differences are to be realized or settled. Given the announcement of the new Iowa corporate income tax rate, Alliant Energy’s and IPL’s deferred tax liabilities were remeasured based upon the new rate effective January 1, 2023, which resulted in a $76 million reduction of Alliant Energy’s and IPL’s tax-related regulatory assets and a decrease in their deferred tax liabilities in the third quarter of 2022. The reduction in tax-related regulatory assets is expected to provide cost benefits to IPL’s customers in the future. Alliant Energy parent company’s deferred tax assets were remeasured based upon the new rate effective January 1, 2023, which resulted in a charge of $8 million recorded to income tax expense in Alliant Energy’s income statement and a decrease in deferred income tax assets on Alliant Energy’s balance sheet in the third quarter of 2022. Alliant Energy is currently unable to predict with certainty the timing or amount of any future rate reductions.

WPL [Member]

Income Taxes [Line Items]

Income Taxes

INCOME TAXESIncome Tax Rates - Overall effective income tax rates, which were computed by dividing income tax expense (benefit) by income before income taxes, were as follows. The effective income tax rates were different than the federal statutory rate primarily due to state income taxes, production tax credits, amortization of excess deferred taxes and the effect of rate-making on property-related differences. The increases in Alliant Energy’s and WPL’s overall effective income tax rates for the three

and nine months ended September 30, 2022 compared to the same periods in 2021 were primarily due to decreased amortization of excess deferred taxes primarily at WPL.

	Alliant Energy				IPL				WPL
	Three Months		Nine Months		Three Months		Nine Months		Three Months		Nine Months
	2022	2021	2022	2021	2022	2021	2022	2021	2022	2021	2022	2021
Overall income tax rate	6%	(9%)	4%	(13%)	(12%)	(8%)	(14%)	(11%)	15%	(19%)	17%	(24%)

Deferred Tax Assets and Liabilities -

Carryforwards - In the third quarter of 2022, Alliant Energy, IPL and WPL fully utilized their respective federal net operating losses carryforwards. At September 30, 2022, the remaining carryforwards and expiration dates were estimated as follows (in millions):

	Range of Expiration Dates	Alliant Energy	IPL	WPL
State net operating losses	2022-2042	$500	$9	$2
Federal tax credits	2022-2042	655	437	208

Iowa Tax Reform - In March 2022, Iowa tax reform was enacted. Annually, and by each November 1, the Iowa Department of Revenue will establish corporate income tax rates for the next tax year based on net corporate income tax receipts for the prior tax year, and reduce such rates if certain state income tax revenue triggers are satisfied. These corporate income tax rate reductions are currently expected to occur over a period of several years, with a target corporate income tax rate of 5.5%, compared to the current 9.8% Iowa corporate income tax rate. In September 2022, the Iowa Department of Revenue announced an Iowa corporate income tax rate of 8.4%, effective January 1, 2023. Deferred tax assets and liabilities are measured at the enacted tax rate expected to be applied when temporary differences are to be realized or settled. Given the announcement of the new Iowa corporate income tax rate, Alliant Energy’s and IPL’s deferred tax liabilities were remeasured based upon the new rate effective January 1, 2023, which resulted in a $76 million reduction of Alliant Energy’s and IPL’s tax-related regulatory assets and a decrease in their deferred tax liabilities in the third quarter of 2022. The reduction in tax-related regulatory assets is expected to provide cost benefits to IPL’s customers in the future. Alliant Energy parent company’s deferred tax assets were remeasured based upon the new rate effective January 1, 2023, which resulted in a charge of $8 million recorded to income tax expense in Alliant Energy’s income statement and a decrease in deferred income tax assets on Alliant Energy’s balance sheet in the third quarter of 2022. Alliant Energy is currently unable to predict with certainty the timing or amount of any future rate reductions.

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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 Plans				OPEB Plans
	Three Months		Nine Months		Three Months		Nine Months
Alliant Energy	2022	2021	2022	2021	2022	2021	2022	2021
Service cost	$3	$2	$7	$8	$—	$1	$2	$3
Interest cost	9	9	27	26	1	1	4	3
Expected return on plan assets	(18)	(17)	(52)	(51)	—	(1)	(3)	(3)
Amortization of prior service credit	—	(1)	—	(1)	—	—	—	—
Amortization of actuarial loss	8	10	24	29	1	1	2	3
	$2	$3	$6	$11	$2	$2	$5	$6

	Defined Benefit Pension Plans				OPEB Plans
	Three Months		Nine Months		Three Months		Nine Months
IPL	2022	2021	2022	2021	2022	2021	2022	2021
Service cost	$1	$1	$4	$5	$—	$—	$1	$1
Interest cost	4	4	12	12	1	1	2	2
Expected return on plan assets	(7)	(8)	(23)	(24)	(1)	(1)	(3)	(3)
Amortization of actuarial loss	3	5	10	13	—	—	—	1
	$1	$2	$3	$6	$—	$—	$—	$1

	Defined Benefit Pension Plans				OPEB Plans
	Three Months		Nine Months		Three Months		Nine Months
WPL	2022	2021	2022	2021	2022	2021	2022	2021
Service cost	$—	$1	$2	$3	$—	$1	$—	$1
Interest cost	4	3	12	11	1	—	2	1
Expected return on plan assets	(7)	(8)	(23)	(23)	—	—	—	—
Amortization of actuarial loss	4	5	12	14	—	1	1	2
	$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 Energy				IPL				WPL
	Three Months		Nine Months		Three Months		Nine Months		Three Months		Nine Months
	2022	2021	2022	2021	2022	2021	2022	2021	2022	2021	2022	2021
Compensation expense	$3	$4	$9	$9	$2	$2	$5	$5	$1	$2	$4	$4
Income tax benefits	1	1	3	3	—	—	1	1	—	—	1	1

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
	Grants	Grant Date Fair Value
Performance shares	74,106	$54.45
Performance restricted stock units	84,670	57.01
Restricted stock units	77,122	56.88

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 Plans				OPEB Plans
	Three Months		Nine Months		Three Months		Nine Months
Alliant Energy	2022	2021	2022	2021	2022	2021	2022	2021
Service cost	$3	$2	$7	$8	$—	$1	$2	$3
Interest cost	9	9	27	26	1	1	4	3
Expected return on plan assets	(18)	(17)	(52)	(51)	—	(1)	(3)	(3)
Amortization of prior service credit	—	(1)	—	(1)	—	—	—	—
Amortization of actuarial loss	8	10	24	29	1	1	2	3
	$2	$3	$6	$11	$2	$2	$5	$6

	Defined Benefit Pension Plans				OPEB Plans
	Three Months		Nine Months		Three Months		Nine Months
IPL	2022	2021	2022	2021	2022	2021	2022	2021
Service cost	$1	$1	$4	$5	$—	$—	$1	$1
Interest cost	4	4	12	12	1	1	2	2
Expected return on plan assets	(7)	(8)	(23)	(24)	(1)	(1)	(3)	(3)
Amortization of actuarial loss	3	5	10	13	—	—	—	1
	$1	$2	$3	$6	$—	$—	$—	$1

	Defined Benefit Pension Plans				OPEB Plans
	Three Months		Nine Months		Three Months		Nine Months
WPL	2022	2021	2022	2021	2022	2021	2022	2021
Service cost	$—	$1	$2	$3	$—	$1	$—	$1
Interest cost	4	3	12	11	1	—	2	1
Expected return on plan assets	(7)	(8)	(23)	(23)	—	—	—	—
Amortization of actuarial loss	4	5	12	14	—	1	1	2
	$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 Energy				IPL				WPL
	Three Months		Nine Months		Three Months		Nine Months		Three Months		Nine Months
	2022	2021	2022	2021	2022	2021	2022	2021	2022	2021	2022	2021
Compensation expense	$3	$4	$9	$9	$2	$2	$5	$5	$1	$2	$4	$4
Income tax benefits	1	1	3	3	—	—	1	1	—	—	1	1

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
	Grants	Grant Date Fair Value
Performance shares	74,106	$54.45
Performance restricted stock units	84,670	57.01
Restricted stock units	77,122	56.88

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 Plans				OPEB Plans
	Three Months		Nine Months		Three Months		Nine Months
Alliant Energy	2022	2021	2022	2021	2022	2021	2022	2021
Service cost	$3	$2	$7	$8	$—	$1	$2	$3
Interest cost	9	9	27	26	1	1	4	3
Expected return on plan assets	(18)	(17)	(52)	(51)	—	(1)	(3)	(3)
Amortization of prior service credit	—	(1)	—	(1)	—	—	—	—
Amortization of actuarial loss	8	10	24	29	1	1	2	3
	$2	$3	$6	$11	$2	$2	$5	$6

	Defined Benefit Pension Plans				OPEB Plans
	Three Months		Nine Months		Three Months		Nine Months
IPL	2022	2021	2022	2021	2022	2021	2022	2021
Service cost	$1	$1	$4	$5	$—	$—	$1	$1
Interest cost	4	4	12	12	1	1	2	2
Expected return on plan assets	(7)	(8)	(23)	(24)	(1)	(1)	(3)	(3)
Amortization of actuarial loss	3	5	10	13	—	—	—	1
	$1	$2	$3	$6	$—	$—	$—	$1

	Defined Benefit Pension Plans				OPEB Plans
	Three Months		Nine Months		Three Months		Nine Months
WPL	2022	2021	2022	2021	2022	2021	2022	2021
Service cost	$—	$1	$2	$3	$—	$1	$—	$1
Interest cost	4	3	12	11	1	—	2	1
Expected return on plan assets	(7)	(8)	(23)	(23)	—	—	—	—
Amortization of actuarial loss	4	5	12	14	—	1	1	2
	$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 Energy				IPL				WPL
	Three Months		Nine Months		Three Months		Nine Months		Three Months		Nine Months
	2022	2021	2022	2021	2022	2021	2022	2021	2022	2021	2022	2021
Compensation expense	$3	$4	$9	$9	$2	$2	$5	$5	$1	$2	$4	$4
Income tax benefits	1	1	3	3	—	—	1	1	—	—	1	1

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
	Grants	Grant Date Fair Value
Performance shares	74,106	$54.45
Performance restricted stock units	84,670	57.01
Restricted stock units	77,122	56.88

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

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Derivative Instruments

9 Months Ended

Sep. 30, 2022

Derivative Instruments [Line Items]

Derivative Instruments

DERIVATIVE INSTRUMENTS

Commodity Derivatives -

Notional Amounts - As of September 30, 2022, gross notional amounts and settlement/delivery years related to outstanding swap contracts, option contracts, physical forward contracts and FTRs that were accounted for as commodity derivative instruments were as follows (units in thousands):

	Electricity		FTRs		Natural Gas		Coal		Diesel Fuel
	MWhs	Years	MWhs	Years	Dths	Years	Tons	Years	Gallons	Years
Alliant Energy	1,379	2022-2024	14,454	2022-2023	249,508	2022-2032	1,566	2022-2023	756	2022
IPL	768	2022-2024	6,165	2022-2023	135,193	2022-2030	669	2022-2023	—	—
WPL	611	2022-2023	8,289	2022-2023	114,315	2022-2032	897	2022-2023	756	2022

Financial Statement Presentation - Derivative instruments are recorded at fair value each reporting date on the balance sheets as assets or liabilities as follows (in millions):

	Alliant Energy		IPL		WPL
	September 30, 2022	December 31, 2021	September 30, 2022	December 31, 2021	September 30, 2022	December 31, 2021
Current derivative assets	$200	$113	$117	$48	$83	$65
Non-current derivative assets	160	63	85	36	75	27
Current derivative liabilities	71	8	54	4	17	4
Non-current derivative liabilities	27	1	12	—	15	1

During the nine months ended September 30, 2022, Alliant Energy’s, IPL’s and WPL’s derivative assets increased primarily due to the annual FTR auction operated by MISO and as a result of higher natural gas prices. Alliant Energy’s, IPL’s and WPL’s derivative liabilities increased primarily due to new natural gas contracts entered into in the second quarter of 2022. Based on IPL’s and WPL’s cost recovery mechanisms, the changes in the fair value of derivative liabilities/assets resulted in comparable changes to regulatory assets/liabilities on the balance sheets.

Credit Risk-related Contingent Features - Various agreements contain credit risk-related contingent features, including requirements to maintain certain credit ratings and/or limitations on liability positions under the agreements based on credit ratings. Certain of these agreements with credit risk-related contingency features are accounted for as derivative instruments. In the event of a material change in creditworthiness or if liability positions exceed certain contractual limits, credit support may need to be provided up to the amount of exposure under the contracts, or the contracts may need to be unwound and underlying liability positions paid. At September 30, 2022 and December 31, 2021, the aggregate fair value of all derivative instruments with credit risk-related contingent features in a net liability position was not materially different than amounts that would be required to be posted as credit support to counterparties by Alliant Energy, IPL or WPL if the most restrictive credit risk-related contingent features for derivative agreements in a net liability position were triggered.

Balance Sheet Offsetting - The fair value amounts of derivative instruments subject to a master netting arrangement are not netted by counterparty on the balance sheets. However, if the fair value amounts of derivative instruments by counterparty were netted, derivative assets and derivative liabilities related to commodity contracts would have been presented on the balance sheets as follows (in millions):

	Alliant Energy		IPL		WPL
	Gross		Gross		Gross
	(as reported)	Net	(as reported)	Net	(as reported)	Net
September 30, 2022
Derivative assets	$360	$308	$202	$165	$158	$143
Derivative liabilities	98	46	66	29	32	17
December 31, 2021
Derivative assets	176	171	84	83	92	88
Derivative liabilities	9	4	4	3	5	1

Fair value amounts recognized for the right to reclaim cash collateral (receivable) or the obligation to return cash collateral (payable) are not offset against fair value amounts recognized for derivative instruments executed with the same counterparty under the same master netting arrangement.

IPL [Member]

Derivative Instruments [Line Items]

Derivative Instruments

DERIVATIVE INSTRUMENTS

Commodity Derivatives -

Notional Amounts - As of September 30, 2022, gross notional amounts and settlement/delivery years related to outstanding swap contracts, option contracts, physical forward contracts and FTRs that were accounted for as commodity derivative instruments were as follows (units in thousands):

	Electricity		FTRs		Natural Gas		Coal		Diesel Fuel
	MWhs	Years	MWhs	Years	Dths	Years	Tons	Years	Gallons	Years
Alliant Energy	1,379	2022-2024	14,454	2022-2023	249,508	2022-2032	1,566	2022-2023	756	2022
IPL	768	2022-2024	6,165	2022-2023	135,193	2022-2030	669	2022-2023	—	—
WPL	611	2022-2023	8,289	2022-2023	114,315	2022-2032	897	2022-2023	756	2022

Financial Statement Presentation - Derivative instruments are recorded at fair value each reporting date on the balance sheets as assets or liabilities as follows (in millions):

	Alliant Energy		IPL		WPL
	September 30, 2022	December 31, 2021	September 30, 2022	December 31, 2021	September 30, 2022	December 31, 2021
Current derivative assets	$200	$113	$117	$48	$83	$65
Non-current derivative assets	160	63	85	36	75	27
Current derivative liabilities	71	8	54	4	17	4
Non-current derivative liabilities	27	1	12	—	15	1

During the nine months ended September 30, 2022, Alliant Energy’s, IPL’s and WPL’s derivative assets increased primarily due to the annual FTR auction operated by MISO and as a result of higher natural gas prices. Alliant Energy’s, IPL’s and WPL’s derivative liabilities increased primarily due to new natural gas contracts entered into in the second quarter of 2022. Based on IPL’s and WPL’s cost recovery mechanisms, the changes in the fair value of derivative liabilities/assets resulted in comparable changes to regulatory assets/liabilities on the balance sheets.

Credit Risk-related Contingent Features - Various agreements contain credit risk-related contingent features, including requirements to maintain certain credit ratings and/or limitations on liability positions under the agreements based on credit ratings. Certain of these agreements with credit risk-related contingency features are accounted for as derivative instruments. In the event of a material change in creditworthiness or if liability positions exceed certain contractual limits, credit support may need to be provided up to the amount of exposure under the contracts, or the contracts may need to be unwound and underlying liability positions paid. At September 30, 2022 and December 31, 2021, the aggregate fair value of all derivative instruments with credit risk-related contingent features in a net liability position was not materially different than amounts that would be required to be posted as credit support to counterparties by Alliant Energy, IPL or WPL if the most restrictive credit risk-related contingent features for derivative agreements in a net liability position were triggered.

Balance Sheet Offsetting - The fair value amounts of derivative instruments subject to a master netting arrangement are not netted by counterparty on the balance sheets. However, if the fair value amounts of derivative instruments by counterparty were netted, derivative assets and derivative liabilities related to commodity contracts would have been presented on the balance sheets as follows (in millions):

	Alliant Energy		IPL		WPL
	Gross		Gross		Gross
	(as reported)	Net	(as reported)	Net	(as reported)	Net
September 30, 2022
Derivative assets	$360	$308	$202	$165	$158	$143
Derivative liabilities	98	46	66	29	32	17
December 31, 2021
Derivative assets	176	171	84	83	92	88
Derivative liabilities	9	4	4	3	5	1

Fair value amounts recognized for the right to reclaim cash collateral (receivable) or the obligation to return cash collateral (payable) are not offset against fair value amounts recognized for derivative instruments executed with the same counterparty under the same master netting arrangement.

WPL [Member]

Derivative Instruments [Line Items]

Derivative Instruments

DERIVATIVE INSTRUMENTS

Commodity Derivatives -

Notional Amounts - As of September 30, 2022, gross notional amounts and settlement/delivery years related to outstanding swap contracts, option contracts, physical forward contracts and FTRs that were accounted for as commodity derivative instruments were as follows (units in thousands):

	Electricity		FTRs		Natural Gas		Coal		Diesel Fuel
	MWhs	Years	MWhs	Years	Dths	Years	Tons	Years	Gallons	Years
Alliant Energy	1,379	2022-2024	14,454	2022-2023	249,508	2022-2032	1,566	2022-2023	756	2022
IPL	768	2022-2024	6,165	2022-2023	135,193	2022-2030	669	2022-2023	—	—
WPL	611	2022-2023	8,289	2022-2023	114,315	2022-2032	897	2022-2023	756	2022

Financial Statement Presentation - Derivative instruments are recorded at fair value each reporting date on the balance sheets as assets or liabilities as follows (in millions):

	Alliant Energy		IPL		WPL
	September 30, 2022	December 31, 2021	September 30, 2022	December 31, 2021	September 30, 2022	December 31, 2021
Current derivative assets	$200	$113	$117	$48	$83	$65
Non-current derivative assets	160	63	85	36	75	27
Current derivative liabilities	71	8	54	4	17	4
Non-current derivative liabilities	27	1	12	—	15	1

During the nine months ended September 30, 2022, Alliant Energy’s, IPL’s and WPL’s derivative assets increased primarily due to the annual FTR auction operated by MISO and as a result of higher natural gas prices. Alliant Energy’s, IPL’s and WPL’s derivative liabilities increased primarily due to new natural gas contracts entered into in the second quarter of 2022. Based on IPL’s and WPL’s cost recovery mechanisms, the changes in the fair value of derivative liabilities/assets resulted in comparable changes to regulatory assets/liabilities on the balance sheets.

Credit Risk-related Contingent Features - Various agreements contain credit risk-related contingent features, including requirements to maintain certain credit ratings and/or limitations on liability positions under the agreements based on credit ratings. Certain of these agreements with credit risk-related contingency features are accounted for as derivative instruments. In the event of a material change in creditworthiness or if liability positions exceed certain contractual limits, credit support may need to be provided up to the amount of exposure under the contracts, or the contracts may need to be unwound and underlying liability positions paid. At September 30, 2022 and December 31, 2021, the aggregate fair value of all derivative instruments with credit risk-related contingent features in a net liability position was not materially different than amounts that would be required to be posted as credit support to counterparties by Alliant Energy, IPL or WPL if the most restrictive credit risk-related contingent features for derivative agreements in a net liability position were triggered.

Balance Sheet Offsetting - The fair value amounts of derivative instruments subject to a master netting arrangement are not netted by counterparty on the balance sheets. However, if the fair value amounts of derivative instruments by counterparty were netted, derivative assets and derivative liabilities related to commodity contracts would have been presented on the balance sheets as follows (in millions):

	Alliant Energy		IPL		WPL
	Gross		Gross		Gross
	(as reported)	Net	(as reported)	Net	(as reported)	Net
September 30, 2022
Derivative assets	$360	$308	$202	$165	$158	$143
Derivative liabilities	98	46	66	29	32	17
December 31, 2021
Derivative assets	176	171	84	83	92	88
Derivative liabilities	9	4	4	3	5	1

Fair value amounts recognized for the right to reclaim cash collateral (receivable) or the obligation to return cash collateral (payable) are not offset against fair value amounts recognized for derivative instruments executed with the same counterparty under the same master netting arrangement.

XML

Fair Value Measurements

9 Months Ended

Sep. 30, 2022

Fair Value Measurements

FAIR VALUE MEASUREMENTS

Fair Value of Financial Instruments - The carrying amounts of current assets and current liabilities approximate fair value because of the short maturity of such financial instruments. Carrying amounts and related estimated fair values of other financial instruments were as follows (in millions):

Alliant Energy	September 30, 2022					December 31, 2021
		Fair Value					Fair Value
	Carrying	Level	Level	Level		Carrying	Level	Level	Level
	Amount	1	2	3	Total	Amount	1	2	3	Total
Assets:
Money market fund investments	$334	$334	$—	$—	$334	$32	$32	$—	$—	$32
Derivatives	360	—	295	65	360	176	—	146	30	176
Deferred proceeds	248	—	—	248	248	214	—	—	214	214
Liabilities:
Derivatives	98	—	78	20	98	9	—	8	1	9
Long-term debt (incl. current maturities)	8,228	—	7,473	1	7,474	7,368	—	8,329	1	8,330

IPL	September 30, 2022					December 31, 2021
		Fair Value					Fair Value
	Carrying	Level	Level	Level		Carrying	Level	Level	Level
	Amount	1	2	3	Total	Amount	1	2	3	Total
Assets:
Money market fund investments	$39	$39	$—	$—	$39	$32	$32	$—	$—	$32
Derivatives	202	—	150	52	202	84	—	65	19	84
Deferred proceeds	248	—	—	248	248	214	—	—	214	214
Liabilities:
Derivatives	66	—	47	19	66	4	—	3	1	4
Long-term debt	3,645	—	3,228	—	3,228	3,643	—	4,124	—	4,124

WPL	September 30, 2022					December 31, 2021
		Fair Value					Fair Value
	Carrying	Level	Level	Level		Carrying	Level	Level	Level
	Amount	1	2	3	Total	Amount	1	2	3	Total
Assets:
Money market fund investments	$295	$295	$—	$—	$295	$—	$—	$—	$—	$—
Derivatives	158	—	145	13	158	92	—	81	11	92
Liabilities:
Derivatives	32	—	31	1	32	5	—	5	—	5
Long-term debt (incl. current maturities)	3,019	—	2,778	—	2,778	2,429	—	2,862	—	2,862

Information for fair value measurements using significant unobservable inputs (Level 3 inputs) was as follows (in millions):

Alliant Energy	Commodity Contract Derivative
	Assets and (Liabilities), net		Deferred Proceeds
Three Months Ended September 30	2022	2021	2022	2021
Beginning balance, July 1	$72	$39	$244	$154
Total net gains (losses) included in changes in net assets (realized/unrealized)	(1)	5	—	—
Transfers out of Level 3	—	(8)	—	—
Settlements (a)	(26)	(7)	4	10
Ending balance, September 30	$45	$29	$248	$164
The amount of total net gains (losses) for the period included in changes in net assets attributable to the change in unrealized gains (losses) relating to assets and liabilities held at September 30	($1)	$5	$—	$—

Alliant Energy	Commodity Contract Derivative
	Assets and (Liabilities), net		Deferred Proceeds
Nine Months Ended September 30	2022	2021	2022	2021
Beginning balance, January 1	$29	$29	$214	$188
Total net gains (losses) included in changes in net assets (realized/unrealized)	(17)	6	—	—
Transfers out of Level 3	—	(8)	—	—
Purchases	79	21	—	—
Settlements (a)	(46)	(19)	34	(24)
Ending balance, September 30	$45	$29	$248	$164
The amount of total net gains (losses) for the period included in changes in net assets attributable to the change in unrealized gains (losses) relating to assets and liabilities held at September 30	($17)	$6	$—	$—

IPL	Commodity Contract Derivative
	Assets and (Liabilities), net		Deferred Proceeds
Three Months Ended September 30	2022	2021	2022	2021
Beginning balance, July 1	$58	$30	$244	$154
Total net gains (losses) included in changes in net assets (realized/unrealized)	(6)	2	—	—
Transfers out of Level 3	—	(8)	—	—
Settlements (a)	(19)	(5)	4	10
Ending balance, September 30	$33	$19	$248	$164
The amount of total net gains (losses) for the period included in changes in net assets attributable to the change in unrealized gains (losses) relating to assets and liabilities held at September 30	($6)	$2	$—	$—

IPL	Commodity Contract Derivative
	Assets and (Liabilities), net		Deferred Proceeds
Nine Months Ended September 30	2022	2021	2022	2021
Beginning balance, January 1	$18	$26	$214	$188
Total net losses included in changes in net assets (realized/unrealized)	(13)	—	—	—
Transfers out of Level 3	—	(8)	—	—
Purchases	58	16	—	—
Settlements (a)	(30)	(15)	34	(24)
Ending balance, September 30	$33	$19	$248	$164
The amount of total net losses for the period included in changes in net assets attributable to the change in unrealized losses relating to assets and liabilities held at September 30	($14)	$—	$—	$—

WPL	Commodity Contract Derivative
	Assets and (Liabilities), net
Three Months Ended September 30	2022	2021
Beginning balance, July 1	$14	$9
Total net gains included in changes in net assets (realized/unrealized)	5	3
Settlements	(7)	(2)
Ending balance, September 30	$12	$10
The amount of total net gains for the period included in changes in net assets attributable to the change in unrealized gains relating to assets and liabilities held at September 30	$5	$3

WPL	Commodity Contract Derivative
	Assets and (Liabilities), net
Nine Months Ended September 30	2022	2021
Beginning balance, January 1	$11	$3
Total net gains (losses) included in changes in net assets (realized/unrealized)	(4)	6
Purchases	21	5
Settlements	(16)	(4)
Ending balance, September 30	$12	$10
The amount of total net gains (losses) for the period included in changes in net assets attributable to the change in unrealized gains (losses) relating to assets and liabilities held at September 30	($3)	$6

(a)Settlements related to deferred proceeds are due to the change in the carrying amount of receivables sold less the allowance for expected credit losses associated with the receivables sold and cash amounts received from the receivables sold.

Commodity Contracts - The fair value of FTR and natural gas commodity contracts categorized as Level 3 was recognized as net derivative assets (liabilities) as follows (in millions):

	Alliant Energy		IPL		WPL
	Excluding FTRs	FTRs	Excluding FTRs	FTRs	Excluding FTRs	FTRs
September 30, 2022	($14)	$59	($15)	$48	$1	$11
December 31, 2021	9	20	8	10	1	10

IPL [Member]

Fair Value Measurements

FAIR VALUE MEASUREMENTS

Fair Value of Financial Instruments - The carrying amounts of current assets and current liabilities approximate fair value because of the short maturity of such financial instruments. Carrying amounts and related estimated fair values of other financial instruments were as follows (in millions):

Alliant Energy	September 30, 2022					December 31, 2021
		Fair Value					Fair Value
	Carrying	Level	Level	Level		Carrying	Level	Level	Level
	Amount	1	2	3	Total	Amount	1	2	3	Total
Assets:
Money market fund investments	$334	$334	$—	$—	$334	$32	$32	$—	$—	$32
Derivatives	360	—	295	65	360	176	—	146	30	176
Deferred proceeds	248	—	—	248	248	214	—	—	214	214
Liabilities:
Derivatives	98	—	78	20	98	9	—	8	1	9
Long-term debt (incl. current maturities)	8,228	—	7,473	1	7,474	7,368	—	8,329	1	8,330

IPL	September 30, 2022					December 31, 2021
		Fair Value					Fair Value
	Carrying	Level	Level	Level		Carrying	Level	Level	Level
	Amount	1	2	3	Total	Amount	1	2	3	Total
Assets:
Money market fund investments	$39	$39	$—	$—	$39	$32	$32	$—	$—	$32
Derivatives	202	—	150	52	202	84	—	65	19	84
Deferred proceeds	248	—	—	248	248	214	—	—	214	214
Liabilities:
Derivatives	66	—	47	19	66	4	—	3	1	4
Long-term debt	3,645	—	3,228	—	3,228	3,643	—	4,124	—	4,124

WPL	September 30, 2022					December 31, 2021
		Fair Value					Fair Value
	Carrying	Level	Level	Level		Carrying	Level	Level	Level
	Amount	1	2	3	Total	Amount	1	2	3	Total
Assets:
Money market fund investments	$295	$295	$—	$—	$295	$—	$—	$—	$—	$—
Derivatives	158	—	145	13	158	92	—	81	11	92
Liabilities:
Derivatives	32	—	31	1	32	5	—	5	—	5
Long-term debt (incl. current maturities)	3,019	—	2,778	—	2,778	2,429	—	2,862	—	2,862

Information for fair value measurements using significant unobservable inputs (Level 3 inputs) was as follows (in millions):

Alliant Energy	Commodity Contract Derivative
	Assets and (Liabilities), net		Deferred Proceeds
Three Months Ended September 30	2022	2021	2022	2021
Beginning balance, July 1	$72	$39	$244	$154
Total net gains (losses) included in changes in net assets (realized/unrealized)	(1)	5	—	—
Transfers out of Level 3	—	(8)	—	—
Settlements (a)	(26)	(7)	4	10
Ending balance, September 30	$45	$29	$248	$164
The amount of total net gains (losses) for the period included in changes in net assets attributable to the change in unrealized gains (losses) relating to assets and liabilities held at September 30	($1)	$5	$—	$—

Alliant Energy	Commodity Contract Derivative
	Assets and (Liabilities), net		Deferred Proceeds
Nine Months Ended September 30	2022	2021	2022	2021
Beginning balance, January 1	$29	$29	$214	$188
Total net gains (losses) included in changes in net assets (realized/unrealized)	(17)	6	—	—
Transfers out of Level 3	—	(8)	—	—
Purchases	79	21	—	—
Settlements (a)	(46)	(19)	34	(24)
Ending balance, September 30	$45	$29	$248	$164
The amount of total net gains (losses) for the period included in changes in net assets attributable to the change in unrealized gains (losses) relating to assets and liabilities held at September 30	($17)	$6	$—	$—

IPL	Commodity Contract Derivative
	Assets and (Liabilities), net		Deferred Proceeds
Three Months Ended September 30	2022	2021	2022	2021
Beginning balance, July 1	$58	$30	$244	$154
Total net gains (losses) included in changes in net assets (realized/unrealized)	(6)	2	—	—
Transfers out of Level 3	—	(8)	—	—
Settlements (a)	(19)	(5)	4	10
Ending balance, September 30	$33	$19	$248	$164
The amount of total net gains (losses) for the period included in changes in net assets attributable to the change in unrealized gains (losses) relating to assets and liabilities held at September 30	($6)	$2	$—	$—

IPL	Commodity Contract Derivative
	Assets and (Liabilities), net		Deferred Proceeds
Nine Months Ended September 30	2022	2021	2022	2021
Beginning balance, January 1	$18	$26	$214	$188
Total net losses included in changes in net assets (realized/unrealized)	(13)	—	—	—
Transfers out of Level 3	—	(8)	—	—
Purchases	58	16	—	—
Settlements (a)	(30)	(15)	34	(24)
Ending balance, September 30	$33	$19	$248	$164
The amount of total net losses for the period included in changes in net assets attributable to the change in unrealized losses relating to assets and liabilities held at September 30	($14)	$—	$—	$—

WPL	Commodity Contract Derivative
	Assets and (Liabilities), net
Three Months Ended September 30	2022	2021
Beginning balance, July 1	$14	$9
Total net gains included in changes in net assets (realized/unrealized)	5	3
Settlements	(7)	(2)
Ending balance, September 30	$12	$10
The amount of total net gains for the period included in changes in net assets attributable to the change in unrealized gains relating to assets and liabilities held at September 30	$5	$3

WPL	Commodity Contract Derivative
	Assets and (Liabilities), net
Nine Months Ended September 30	2022	2021
Beginning balance, January 1	$11	$3
Total net gains (losses) included in changes in net assets (realized/unrealized)	(4)	6
Purchases	21	5
Settlements	(16)	(4)
Ending balance, September 30	$12	$10
The amount of total net gains (losses) for the period included in changes in net assets attributable to the change in unrealized gains (losses) relating to assets and liabilities held at September 30	($3)	$6

(a)Settlements related to deferred proceeds are due to the change in the carrying amount of receivables sold less the allowance for expected credit losses associated with the receivables sold and cash amounts received from the receivables sold.

Commodity Contracts - The fair value of FTR and natural gas commodity contracts categorized as Level 3 was recognized as net derivative assets (liabilities) as follows (in millions):

	Alliant Energy		IPL		WPL
	Excluding FTRs	FTRs	Excluding FTRs	FTRs	Excluding FTRs	FTRs
September 30, 2022	($14)	$59	($15)	$48	$1	$11
December 31, 2021	9	20	8	10	1	10

WPL [Member]

Fair Value Measurements

FAIR VALUE MEASUREMENTS

Fair Value of Financial Instruments - The carrying amounts of current assets and current liabilities approximate fair value because of the short maturity of such financial instruments. Carrying amounts and related estimated fair values of other financial instruments were as follows (in millions):

Alliant Energy	September 30, 2022					December 31, 2021
		Fair Value					Fair Value
	Carrying	Level	Level	Level		Carrying	Level	Level	Level
	Amount	1	2	3	Total	Amount	1	2	3	Total
Assets:
Money market fund investments	$334	$334	$—	$—	$334	$32	$32	$—	$—	$32
Derivatives	360	—	295	65	360	176	—	146	30	176
Deferred proceeds	248	—	—	248	248	214	—	—	214	214
Liabilities:
Derivatives	98	—	78	20	98	9	—	8	1	9
Long-term debt (incl. current maturities)	8,228	—	7,473	1	7,474	7,368	—	8,329	1	8,330

IPL	September 30, 2022					December 31, 2021
		Fair Value					Fair Value
	Carrying	Level	Level	Level		Carrying	Level	Level	Level
	Amount	1	2	3	Total	Amount	1	2	3	Total
Assets:
Money market fund investments	$39	$39	$—	$—	$39	$32	$32	$—	$—	$32
Derivatives	202	—	150	52	202	84	—	65	19	84
Deferred proceeds	248	—	—	248	248	214	—	—	214	214
Liabilities:
Derivatives	66	—	47	19	66	4	—	3	1	4
Long-term debt	3,645	—	3,228	—	3,228	3,643	—	4,124	—	4,124

WPL	September 30, 2022					December 31, 2021
		Fair Value					Fair Value
	Carrying	Level	Level	Level		Carrying	Level	Level	Level
	Amount	1	2	3	Total	Amount	1	2	3	Total
Assets:
Money market fund investments	$295	$295	$—	$—	$295	$—	$—	$—	$—	$—
Derivatives	158	—	145	13	158	92	—	81	11	92
Liabilities:
Derivatives	32	—	31	1	32	5	—	5	—	5
Long-term debt (incl. current maturities)	3,019	—	2,778	—	2,778	2,429	—	2,862	—	2,862

Information for fair value measurements using significant unobservable inputs (Level 3 inputs) was as follows (in millions):

Alliant Energy	Commodity Contract Derivative
	Assets and (Liabilities), net		Deferred Proceeds
Three Months Ended September 30	2022	2021	2022	2021
Beginning balance, July 1	$72	$39	$244	$154
Total net gains (losses) included in changes in net assets (realized/unrealized)	(1)	5	—	—
Transfers out of Level 3	—	(8)	—	—
Settlements (a)	(26)	(7)	4	10
Ending balance, September 30	$45	$29	$248	$164
The amount of total net gains (losses) for the period included in changes in net assets attributable to the change in unrealized gains (losses) relating to assets and liabilities held at September 30	($1)	$5	$—	$—

Alliant Energy	Commodity Contract Derivative
	Assets and (Liabilities), net		Deferred Proceeds
Nine Months Ended September 30	2022	2021	2022	2021
Beginning balance, January 1	$29	$29	$214	$188
Total net gains (losses) included in changes in net assets (realized/unrealized)	(17)	6	—	—
Transfers out of Level 3	—	(8)	—	—
Purchases	79	21	—	—
Settlements (a)	(46)	(19)	34	(24)
Ending balance, September 30	$45	$29	$248	$164
The amount of total net gains (losses) for the period included in changes in net assets attributable to the change in unrealized gains (losses) relating to assets and liabilities held at September 30	($17)	$6	$—	$—

IPL	Commodity Contract Derivative
	Assets and (Liabilities), net		Deferred Proceeds
Three Months Ended September 30	2022	2021	2022	2021
Beginning balance, July 1	$58	$30	$244	$154
Total net gains (losses) included in changes in net assets (realized/unrealized)	(6)	2	—	—
Transfers out of Level 3	—	(8)	—	—
Settlements (a)	(19)	(5)	4	10
Ending balance, September 30	$33	$19	$248	$164
The amount of total net gains (losses) for the period included in changes in net assets attributable to the change in unrealized gains (losses) relating to assets and liabilities held at September 30	($6)	$2	$—	$—

IPL	Commodity Contract Derivative
	Assets and (Liabilities), net		Deferred Proceeds
Nine Months Ended September 30	2022	2021	2022	2021
Beginning balance, January 1	$18	$26	$214	$188
Total net losses included in changes in net assets (realized/unrealized)	(13)	—	—	—
Transfers out of Level 3	—	(8)	—	—
Purchases	58	16	—	—
Settlements (a)	(30)	(15)	34	(24)
Ending balance, September 30	$33	$19	$248	$164
The amount of total net losses for the period included in changes in net assets attributable to the change in unrealized losses relating to assets and liabilities held at September 30	($14)	$—	$—	$—

WPL	Commodity Contract Derivative
	Assets and (Liabilities), net
Three Months Ended September 30	2022	2021
Beginning balance, July 1	$14	$9
Total net gains included in changes in net assets (realized/unrealized)	5	3
Settlements	(7)	(2)
Ending balance, September 30	$12	$10
The amount of total net gains for the period included in changes in net assets attributable to the change in unrealized gains relating to assets and liabilities held at September 30	$5	$3

WPL	Commodity Contract Derivative
	Assets and (Liabilities), net
Nine Months Ended September 30	2022	2021
Beginning balance, January 1	$11	$3
Total net gains (losses) included in changes in net assets (realized/unrealized)	(4)	6
Purchases	21	5
Settlements	(16)	(4)
Ending balance, September 30	$12	$10
The amount of total net gains (losses) for the period included in changes in net assets attributable to the change in unrealized gains (losses) relating to assets and liabilities held at September 30	($3)	$6

(a)Settlements related to deferred proceeds are due to the change in the carrying amount of receivables sold less the allowance for expected credit losses associated with the receivables sold and cash amounts received from the receivables sold.

Commodity Contracts - The fair value of FTR and natural gas commodity contracts categorized as Level 3 was recognized as net derivative assets (liabilities) as follows (in millions):

	Alliant Energy		IPL		WPL
	Excluding FTRs	FTRs	Excluding FTRs	FTRs	Excluding FTRs	FTRs
September 30, 2022	($14)	$59	($15)	$48	$1	$11
December 31, 2021	9	20	8	10	1	10

XML

Commitments And Contingencies

9 Months Ended

Sep. 30, 2022

Commitments and Contingencies Disclosure

COMMITMENTS AND CONTINGENCIES

NOTE 13(a) Capital Purchase Commitments - Various contractual obligations contain minimum future commitments related to capital expenditures for certain construction projects, including WPL’s expansion of solar generation. At September 30, 2022, Alliant Energy’s and WPL’s minimum future commitments for these projects were $208 million and $206 million, respectively.

NOTE 13(b) Other Purchase Commitments - Various commodity supply, transportation and storage contracts help meet obligations to provide electricity and natural gas to utility customers. In addition, there are various purchase commitments associated with other goods and services. At September 30, 2022, related minimum future commitments were as follows (in millions):

	Alliant Energy	IPL	WPL
Natural gas	$1,608	$742	$866
Coal	197	95	102
Other (a)	126	57	28
	$1,931	$894	$996

(a)Includes individual commitments incurred during the normal course of business that exceeded $1 million at September 30, 2022.

NOTE 13(c) Guarantees and Indemnifications -

Whiting Petroleum - Whiting Petroleum is an independent oil and gas company. In 2004, Alliant Energy sold its remaining interest in Whiting Petroleum. Alliant Energy Resources, LLC, as the successor to a predecessor entity that owned Whiting Petroleum, and a wholly-owned subsidiary of AEF, continues to guarantee the partnership obligations of an affiliate of Whiting Petroleum under multiple general partnership agreements in the oil and gas industry. The guarantees do not include a maximum limit. Based on information made available to Alliant Energy by Whiting Petroleum, the Whiting Petroleum affiliate holds an approximate 6% share in the partnerships, and currently known obligations include costs associated with the future abandonment of certain facilities owned by the partnerships. The general partnerships were formed under California law, and Alliant Energy Resources, LLC may need to perform under the guarantees if the affiliate of Whiting Petroleum is unable to meet its partnership obligations.

As of September 30, 2022, the currently known partnership obligations for the abandonment obligations are estimated at $58 million, which represents Alliant Energy’s currently estimated maximum exposure under the guarantees. Alliant Energy estimates its expected loss to be a portion of the $58 million of known partnership abandonment obligations of the Whiting Petroleum affiliate and the other partners. Alliant Energy is not aware of any material liabilities related to these guarantees that it is probable that it will be obligated to pay; however, as of both September 30, 2022 and December 31, 2021, a liability of $5 million is recorded in “Other liabilities” on Alliant Energy’s balance sheets for expected credit losses related to the contingent obligations that are in the scope of these guarantees.

Whiting Petroleum completed a business combination with Oasis Petroleum Inc. in July 2022. The combined operations are now known as Chord Energy Corporation. The business combination is not expected to affect the scope of the Whiting Petroleum affiliate’s obligations to Alliant Energy or Alliant Energy’s related guarantees.

Non-utility Wind Farm in Oklahoma - In 2017, a wholly-owned subsidiary of AEF acquired a cash equity ownership interest in a non-utility wind farm located in Oklahoma. The wind farm provides electricity to a third party under a long-term PPA. Alliant Energy provided a parent guarantee of its subsidiary’s indemnification obligations under the related operating agreement and PPA. Alliant Energy’s obligations under the operating agreement were $59 million as of September 30, 2022 and will reduce annually until expiring in July 2047. Alliant Energy’s obligations under the PPA are subject to a maximum limit of $17 million and expire in December 2031, subject to potential extension. Alliant Energy is not aware of any material liabilities related to this guarantee that it is probable that it will be obligated to pay and therefore has not recognized any material liabilities related to this guarantee as of September 30, 2022 and December 31, 2021.

NOTE 13(d) Environmental Matters -

Manufactured Gas Plant (MGP) Sites - IPL and WPL have current or previous ownership interests in various sites that are previously associated with the production of gas for which IPL and WPL have, or may have in the future, liability for investigation, remediation and monitoring costs. IPL and WPL are working pursuant to the requirements of various federal and state agencies to investigate, mitigate, prevent and remediate, where necessary, the environmental impacts to property, including natural resources, at and around these former MGP sites in order to protect public health and the environment. At September 30, 2022, estimated future costs expected to be incurred for the investigation, remediation and monitoring of the MGP sites, as well as environmental liabilities recorded on the balance sheets for these sites, which are not discounted, were as follows (in millions). At September 30, 2022, such amounts for WPL were not material.

	Alliant Energy			IPL
Range of estimated future costs	$9	-	$25	$6	-	$19
Current and non-current environmental liabilities	$12			$8

IPL Consent Decree - In 2015, the U.S. District Court for the Northern District of Iowa approved a Consent Decree that IPL entered into with the EPA, the Sierra Club, the State of Iowa and Linn County in Iowa, thereby resolving potential Clean Air Act issues associated with emissions from IPL’s coal-fired generating facilities in Iowa. IPL has completed various requirements under the Consent Decree. IPL’s remaining requirements include fuel switching or retiring Prairie Creek Units 1 and 3 by December 31, 2025. Alliant Energy and IPL currently expect to recover material costs incurred by IPL related to compliance with the terms of the Consent Decree from IPL’s electric customers.

Other Environmental Contingencies - In addition to the environmental liabilities discussed above, various environmental rules are monitored that may have a significant impact on future operations. Several of these environmental rules are subject to legal challenges, reconsideration and/or other uncertainties. Given uncertainties regarding the outcome, timing and compliance plans for these environmental matters, the complete financial impact of each of these rules is not able to be determined; however, future capital investments and/or modifications to EGUs and electric and gas distribution systems to comply with certain of these rules could be significant. Specific current, proposed or potential environmental matters include, among others: Effluent Limitation Guidelines, Coal Combustion Residuals Rule, and various legislation and EPA regulations to monitor and regulate the emission of greenhouse gases, including the Clean Air Act.

NOTE 13(e) MISO Transmission Owner Return on Equity Complaints - A group of stakeholders, including MISO cooperative and municipal utilities, previously filed complaints with FERC requesting a reduction to the base return on equity authorized for MISO transmission owners, including ITC Midwest LLC and ATC. In 2019, FERC issued an order on the previously filed complaints and reduced the base return on equity authorized for the MISO transmission owners to 9.88% for November 12, 2013 through February 11, 2015, and subsequent to September 28, 2016. In 2020, FERC issued orders in response to various rehearing requests and increased the base return on equity authorized for the MISO transmission owners from 9.88% to 10.02% for November 12, 2013 through February 11, 2015, and subsequent to September 28, 2016. In August 2022, the U.S. Court of Appeals for the District of Columbia Circuit vacated FERC’s prior orders that established the base return on equity authorized for the MISO transmission owners and remanded the cases to FERC for further proceedings, which may result in additional changes to the base return on equity authorized for the MISO transmission owners. As a result of the August 2022 court decision, Alliant Energy recorded a $5 million reduction in “Equity income from unconsolidated investments” in its income statement for the three and nine months ended September 30, 2022 to reflect the anticipated reduction in the base return on equity authorized for the MISO transmission owners. Any further changes in FERC’s decisions may have an impact on Alliant Energy’s share of ATC’s future earnings and customer costs.

IPL [Member]

Commitments and Contingencies Disclosure

COMMITMENTS AND CONTINGENCIES

NOTE 13(a) Capital Purchase Commitments - Various contractual obligations contain minimum future commitments related to capital expenditures for certain construction projects, including WPL’s expansion of solar generation. At September 30, 2022, Alliant Energy’s and WPL’s minimum future commitments for these projects were $208 million and $206 million, respectively.

NOTE 13(b) Other Purchase Commitments - Various commodity supply, transportation and storage contracts help meet obligations to provide electricity and natural gas to utility customers. In addition, there are various purchase commitments associated with other goods and services. At September 30, 2022, related minimum future commitments were as follows (in millions):

	Alliant Energy	IPL	WPL
Natural gas	$1,608	$742	$866
Coal	197	95	102
Other (a)	126	57	28
	$1,931	$894	$996

(a)Includes individual commitments incurred during the normal course of business that exceeded $1 million at September 30, 2022.

NOTE 13(c) Guarantees and Indemnifications -

Whiting Petroleum - Whiting Petroleum is an independent oil and gas company. In 2004, Alliant Energy sold its remaining interest in Whiting Petroleum. Alliant Energy Resources, LLC, as the successor to a predecessor entity that owned Whiting Petroleum, and a wholly-owned subsidiary of AEF, continues to guarantee the partnership obligations of an affiliate of Whiting Petroleum under multiple general partnership agreements in the oil and gas industry. The guarantees do not include a maximum limit. Based on information made available to Alliant Energy by Whiting Petroleum, the Whiting Petroleum affiliate holds an approximate 6% share in the partnerships, and currently known obligations include costs associated with the future abandonment of certain facilities owned by the partnerships. The general partnerships were formed under California law, and Alliant Energy Resources, LLC may need to perform under the guarantees if the affiliate of Whiting Petroleum is unable to meet its partnership obligations.

As of September 30, 2022, the currently known partnership obligations for the abandonment obligations are estimated at $58 million, which represents Alliant Energy’s currently estimated maximum exposure under the guarantees. Alliant Energy estimates its expected loss to be a portion of the $58 million of known partnership abandonment obligations of the Whiting Petroleum affiliate and the other partners. Alliant Energy is not aware of any material liabilities related to these guarantees that it is probable that it will be obligated to pay; however, as of both September 30, 2022 and December 31, 2021, a liability of $5 million is recorded in “Other liabilities” on Alliant Energy’s balance sheets for expected credit losses related to the contingent obligations that are in the scope of these guarantees.

Whiting Petroleum completed a business combination with Oasis Petroleum Inc. in July 2022. The combined operations are now known as Chord Energy Corporation. The business combination is not expected to affect the scope of the Whiting Petroleum affiliate’s obligations to Alliant Energy or Alliant Energy’s related guarantees.

Non-utility Wind Farm in Oklahoma - In 2017, a wholly-owned subsidiary of AEF acquired a cash equity ownership interest in a non-utility wind farm located in Oklahoma. The wind farm provides electricity to a third party under a long-term PPA. Alliant Energy provided a parent guarantee of its subsidiary’s indemnification obligations under the related operating agreement and PPA. Alliant Energy’s obligations under the operating agreement were $59 million as of September 30, 2022 and will reduce annually until expiring in July 2047. Alliant Energy’s obligations under the PPA are subject to a maximum limit of $17 million and expire in December 2031, subject to potential extension. Alliant Energy is not aware of any material liabilities related to this guarantee that it is probable that it will be obligated to pay and therefore has not recognized any material liabilities related to this guarantee as of September 30, 2022 and December 31, 2021.

NOTE 13(d) Environmental Matters -

Manufactured Gas Plant (MGP) Sites - IPL and WPL have current or previous ownership interests in various sites that are previously associated with the production of gas for which IPL and WPL have, or may have in the future, liability for investigation, remediation and monitoring costs. IPL and WPL are working pursuant to the requirements of various federal and state agencies to investigate, mitigate, prevent and remediate, where necessary, the environmental impacts to property, including natural resources, at and around these former MGP sites in order to protect public health and the environment. At September 30, 2022, estimated future costs expected to be incurred for the investigation, remediation and monitoring of the MGP sites, as well as environmental liabilities recorded on the balance sheets for these sites, which are not discounted, were as follows (in millions). At September 30, 2022, such amounts for WPL were not material.

	Alliant Energy			IPL
Range of estimated future costs	$9	-	$25	$6	-	$19
Current and non-current environmental liabilities	$12			$8

IPL Consent Decree - In 2015, the U.S. District Court for the Northern District of Iowa approved a Consent Decree that IPL entered into with the EPA, the Sierra Club, the State of Iowa and Linn County in Iowa, thereby resolving potential Clean Air Act issues associated with emissions from IPL’s coal-fired generating facilities in Iowa. IPL has completed various requirements under the Consent Decree. IPL’s remaining requirements include fuel switching or retiring Prairie Creek Units 1 and 3 by December 31, 2025. Alliant Energy and IPL currently expect to recover material costs incurred by IPL related to compliance with the terms of the Consent Decree from IPL’s electric customers.

Other Environmental Contingencies - In addition to the environmental liabilities discussed above, various environmental rules are monitored that may have a significant impact on future operations. Several of these environmental rules are subject to legal challenges, reconsideration and/or other uncertainties. Given uncertainties regarding the outcome, timing and compliance plans for these environmental matters, the complete financial impact of each of these rules is not able to be determined; however, future capital investments and/or modifications to EGUs and electric and gas distribution systems to comply with certain of these rules could be significant. Specific current, proposed or potential environmental matters include, among others: Effluent Limitation Guidelines, Coal Combustion Residuals Rule, and various legislation and EPA regulations to monitor and regulate the emission of greenhouse gases, including the Clean Air Act.

NOTE 13(e) MISO Transmission Owner Return on Equity Complaints - A group of stakeholders, including MISO cooperative and municipal utilities, previously filed complaints with FERC requesting a reduction to the base return on equity authorized for MISO transmission owners, including ITC Midwest LLC and ATC. In 2019, FERC issued an order on the previously filed complaints and reduced the base return on equity authorized for the MISO transmission owners to 9.88% for November 12, 2013 through February 11, 2015, and subsequent to September 28, 2016. In 2020, FERC issued orders in response to various rehearing requests and increased the base return on equity authorized for the MISO transmission owners from 9.88% to 10.02% for November 12, 2013 through February 11, 2015, and subsequent to September 28, 2016. In August 2022, the U.S. Court of Appeals for the District of Columbia Circuit vacated FERC’s prior orders that established the base return on equity authorized for the MISO transmission owners and remanded the cases to FERC for further proceedings, which may result in additional changes to the base return on equity authorized for the MISO transmission owners. As a result of the August 2022 court decision, Alliant Energy recorded a $5 million reduction in “Equity income from unconsolidated investments” in its income statement for the three and nine months ended September 30, 2022 to reflect the anticipated reduction in the base return on equity authorized for the MISO transmission owners. Any further changes in FERC’s decisions may have an impact on Alliant Energy’s share of ATC’s future earnings and customer costs.

WPL [Member]

Commitments and Contingencies Disclosure

COMMITMENTS AND CONTINGENCIES

NOTE 13(a) Capital Purchase Commitments - Various contractual obligations contain minimum future commitments related to capital expenditures for certain construction projects, including WPL’s expansion of solar generation. At September 30, 2022, Alliant Energy’s and WPL’s minimum future commitments for these projects were $208 million and $206 million, respectively.

NOTE 13(b) Other Purchase Commitments - Various commodity supply, transportation and storage contracts help meet obligations to provide electricity and natural gas to utility customers. In addition, there are various purchase commitments associated with other goods and services. At September 30, 2022, related minimum future commitments were as follows (in millions):

	Alliant Energy	IPL	WPL
Natural gas	$1,608	$742	$866
Coal	197	95	102
Other (a)	126	57	28
	$1,931	$894	$996

(a)Includes individual commitments incurred during the normal course of business that exceeded $1 million at September 30, 2022.

NOTE 13(c) Guarantees and Indemnifications -

Whiting Petroleum - Whiting Petroleum is an independent oil and gas company. In 2004, Alliant Energy sold its remaining interest in Whiting Petroleum. Alliant Energy Resources, LLC, as the successor to a predecessor entity that owned Whiting Petroleum, and a wholly-owned subsidiary of AEF, continues to guarantee the partnership obligations of an affiliate of Whiting Petroleum under multiple general partnership agreements in the oil and gas industry. The guarantees do not include a maximum limit. Based on information made available to Alliant Energy by Whiting Petroleum, the Whiting Petroleum affiliate holds an approximate 6% share in the partnerships, and currently known obligations include costs associated with the future abandonment of certain facilities owned by the partnerships. The general partnerships were formed under California law, and Alliant Energy Resources, LLC may need to perform under the guarantees if the affiliate of Whiting Petroleum is unable to meet its partnership obligations.

As of September 30, 2022, the currently known partnership obligations for the abandonment obligations are estimated at $58 million, which represents Alliant Energy’s currently estimated maximum exposure under the guarantees. Alliant Energy estimates its expected loss to be a portion of the $58 million of known partnership abandonment obligations of the Whiting Petroleum affiliate and the other partners. Alliant Energy is not aware of any material liabilities related to these guarantees that it is probable that it will be obligated to pay; however, as of both September 30, 2022 and December 31, 2021, a liability of $5 million is recorded in “Other liabilities” on Alliant Energy’s balance sheets for expected credit losses related to the contingent obligations that are in the scope of these guarantees.

Whiting Petroleum completed a business combination with Oasis Petroleum Inc. in July 2022. The combined operations are now known as Chord Energy Corporation. The business combination is not expected to affect the scope of the Whiting Petroleum affiliate’s obligations to Alliant Energy or Alliant Energy’s related guarantees.

Non-utility Wind Farm in Oklahoma - In 2017, a wholly-owned subsidiary of AEF acquired a cash equity ownership interest in a non-utility wind farm located in Oklahoma. The wind farm provides electricity to a third party under a long-term PPA. Alliant Energy provided a parent guarantee of its subsidiary’s indemnification obligations under the related operating agreement and PPA. Alliant Energy’s obligations under the operating agreement were $59 million as of September 30, 2022 and will reduce annually until expiring in July 2047. Alliant Energy’s obligations under the PPA are subject to a maximum limit of $17 million and expire in December 2031, subject to potential extension. Alliant Energy is not aware of any material liabilities related to this guarantee that it is probable that it will be obligated to pay and therefore has not recognized any material liabilities related to this guarantee as of September 30, 2022 and December 31, 2021.

NOTE 13(d) Environmental Matters -

Manufactured Gas Plant (MGP) Sites - IPL and WPL have current or previous ownership interests in various sites that are previously associated with the production of gas for which IPL and WPL have, or may have in the future, liability for investigation, remediation and monitoring costs. IPL and WPL are working pursuant to the requirements of various federal and state agencies to investigate, mitigate, prevent and remediate, where necessary, the environmental impacts to property, including natural resources, at and around these former MGP sites in order to protect public health and the environment. At September 30, 2022, estimated future costs expected to be incurred for the investigation, remediation and monitoring of the MGP sites, as well as environmental liabilities recorded on the balance sheets for these sites, which are not discounted, were as follows (in millions). At September 30, 2022, such amounts for WPL were not material.

	Alliant Energy			IPL
Range of estimated future costs	$9	-	$25	$6	-	$19
Current and non-current environmental liabilities	$12			$8

IPL Consent Decree - In 2015, the U.S. District Court for the Northern District of Iowa approved a Consent Decree that IPL entered into with the EPA, the Sierra Club, the State of Iowa and Linn County in Iowa, thereby resolving potential Clean Air Act issues associated with emissions from IPL’s coal-fired generating facilities in Iowa. IPL has completed various requirements under the Consent Decree. IPL’s remaining requirements include fuel switching or retiring Prairie Creek Units 1 and 3 by December 31, 2025. Alliant Energy and IPL currently expect to recover material costs incurred by IPL related to compliance with the terms of the Consent Decree from IPL’s electric customers.

Other Environmental Contingencies - In addition to the environmental liabilities discussed above, various environmental rules are monitored that may have a significant impact on future operations. Several of these environmental rules are subject to legal challenges, reconsideration and/or other uncertainties. Given uncertainties regarding the outcome, timing and compliance plans for these environmental matters, the complete financial impact of each of these rules is not able to be determined; however, future capital investments and/or modifications to EGUs and electric and gas distribution systems to comply with certain of these rules could be significant. Specific current, proposed or potential environmental matters include, among others: Effluent Limitation Guidelines, Coal Combustion Residuals Rule, and various legislation and EPA regulations to monitor and regulate the emission of greenhouse gases, including the Clean Air Act.

NOTE 13(e) MISO Transmission Owner Return on Equity Complaints - A group of stakeholders, including MISO cooperative and municipal utilities, previously filed complaints with FERC requesting a reduction to the base return on equity authorized for MISO transmission owners, including ITC Midwest LLC and ATC. In 2019, FERC issued an order on the previously filed complaints and reduced the base return on equity authorized for the MISO transmission owners to 9.88% for November 12, 2013 through February 11, 2015, and subsequent to September 28, 2016. In 2020, FERC issued orders in response to various rehearing requests and increased the base return on equity authorized for the MISO transmission owners from 9.88% to 10.02% for November 12, 2013 through February 11, 2015, and subsequent to September 28, 2016. In August 2022, the U.S. Court of Appeals for the District of Columbia Circuit vacated FERC’s prior orders that established the base return on equity authorized for the MISO transmission owners and remanded the cases to FERC for further proceedings, which may result in additional changes to the base return on equity authorized for the MISO transmission owners. As a result of the August 2022 court decision, Alliant Energy recorded a $5 million reduction in “Equity income from unconsolidated investments” in its income statement for the three and nine months ended September 30, 2022 to reflect the anticipated reduction in the base return on equity authorized for the MISO transmission owners. Any further changes in FERC’s decisions may have an impact on Alliant Energy’s share of ATC’s future earnings and customer costs.

XML

Segments Of Business

9 Months Ended

Sep. 30, 2022

Segment Reporting Information [Line Items]

Segments Of Business

SEGMENTS OF BUSINESS

Certain financial information relating to Alliant Energy’s, IPL’s and WPL’s business segments is as follows. Intersegment revenues were not material to their respective operations.

Alliant Energy					ATC Holdings,	Alliant
	Utility				Non-Utility,	Energy
	Electric	Gas	Other	Total	Parent and Other	Consolidated
	(in millions)
Three Months Ended September 30, 2022
Revenues	$1,039	$62	$11	$1,112	$23	$1,135
Operating income (loss)	304	(3)	1	302	7	309
Net income (loss) attributable to Alliant Energy common shareowners				245	(18)	227
Three Months Ended September 30, 2021
Revenues	$939	$50	$13	$1,002	$22	$1,024
Operating income (loss)	290	(5)	(5)	280	9	289
Net income attributable to Alliant Energy common shareowners				250	6	256

Alliant Energy					ATC Holdings,	Alliant
	Utility				Non-Utility,	Energy
	Electric	Gas	Other	Total	Parent and Other	Consolidated
	(in millions)
Nine Months Ended September 30, 2022
Revenues	$2,624	$418	$35	$3,077	$70	$3,147
Operating income	680	62	4	746	23	769
Net income attributable to Alliant Energy common shareowners				574	5	579
Nine Months Ended September 30, 2021
Revenues	$2,357	$289	$36	$2,682	$60	$2,742
Operating income (loss)	601	42	(4)	639	24	663
Net income attributable to Alliant Energy common shareowners				537	34	571

IPL	Electric	Gas	Other	Total
	(in millions)
Three Months Ended September 30, 2022
Revenues	$596	$33	$11	$640
Operating income (loss)	174	(3)	—	171
Net income available for common stock				154
Three Months Ended September 30, 2021
Revenues	$555	$31	$13	$599
Operating income (loss)	186	(3)	(3)	180
Net income available for common stock				157
Nine Months Ended September 30, 2022
Revenues	$1,438	$224	$34	$1,696
Operating income	353	33	3	389
Net income available for common stock				327
Nine Months Ended September 30, 2021
Revenues	$1,343	$165	$35	$1,543
Operating income (loss)	365	30	(1)	394
Net income available for common stock				322

WPL	Electric	Gas	Other	Total
	(in millions)
Three Months Ended September 30, 2022
Revenues	$443	$29	$—	$472
Operating income	130	—	1	131
Net income				91
Three Months Ended September 30, 2021
Revenues	$384	$19	$—	$403
Operating income (loss)	104	(2)	(2)	100
Net income				93
Nine Months Ended September 30, 2022
Revenues	$1,186	$194	$1	$1,381
Operating income	327	29	1	357
Net income				247
Nine Months Ended September 30, 2021
Revenues	$1,014	$124	$1	$1,139
Operating income (loss)	236	12	(3)	245
Net income				215

IPL [Member]

Segment Reporting Information [Line Items]

Segments Of Business

SEGMENTS OF BUSINESS

Certain financial information relating to Alliant Energy’s, IPL’s and WPL’s business segments is as follows. Intersegment revenues were not material to their respective operations.

Alliant Energy					ATC Holdings,	Alliant
	Utility				Non-Utility,	Energy
	Electric	Gas	Other	Total	Parent and Other	Consolidated
	(in millions)
Three Months Ended September 30, 2022
Revenues	$1,039	$62	$11	$1,112	$23	$1,135
Operating income (loss)	304	(3)	1	302	7	309
Net income (loss) attributable to Alliant Energy common shareowners				245	(18)	227
Three Months Ended September 30, 2021
Revenues	$939	$50	$13	$1,002	$22	$1,024
Operating income (loss)	290	(5)	(5)	280	9	289
Net income attributable to Alliant Energy common shareowners				250	6	256

Alliant Energy					ATC Holdings,	Alliant
	Utility				Non-Utility,	Energy
	Electric	Gas	Other	Total	Parent and Other	Consolidated
	(in millions)
Nine Months Ended September 30, 2022
Revenues	$2,624	$418	$35	$3,077	$70	$3,147
Operating income	680	62	4	746	23	769
Net income attributable to Alliant Energy common shareowners				574	5	579
Nine Months Ended September 30, 2021
Revenues	$2,357	$289	$36	$2,682	$60	$2,742
Operating income (loss)	601	42	(4)	639	24	663
Net income attributable to Alliant Energy common shareowners				537	34	571

IPL	Electric	Gas	Other	Total
	(in millions)
Three Months Ended September 30, 2022
Revenues	$596	$33	$11	$640
Operating income (loss)	174	(3)	—	171
Net income available for common stock				154
Three Months Ended September 30, 2021
Revenues	$555	$31	$13	$599
Operating income (loss)	186	(3)	(3)	180
Net income available for common stock				157
Nine Months Ended September 30, 2022
Revenues	$1,438	$224	$34	$1,696
Operating income	353	33	3	389
Net income available for common stock				327
Nine Months Ended September 30, 2021
Revenues	$1,343	$165	$35	$1,543
Operating income (loss)	365	30	(1)	394
Net income available for common stock				322

WPL	Electric	Gas	Other	Total
	(in millions)
Three Months Ended September 30, 2022
Revenues	$443	$29	$—	$472
Operating income	130	—	1	131
Net income				91
Three Months Ended September 30, 2021
Revenues	$384	$19	$—	$403
Operating income (loss)	104	(2)	(2)	100
Net income				93
Nine Months Ended September 30, 2022
Revenues	$1,186	$194	$1	$1,381
Operating income	327	29	1	357
Net income				247
Nine Months Ended September 30, 2021
Revenues	$1,014	$124	$1	$1,139
Operating income (loss)	236	12	(3)	245
Net income				215

WPL [Member]

Segment Reporting Information [Line Items]

Segments Of Business

SEGMENTS OF BUSINESS

Certain financial information relating to Alliant Energy’s, IPL’s and WPL’s business segments is as follows. Intersegment revenues were not material to their respective operations.

Alliant Energy					ATC Holdings,	Alliant
	Utility				Non-Utility,	Energy
	Electric	Gas	Other	Total	Parent and Other	Consolidated
	(in millions)
Three Months Ended September 30, 2022
Revenues	$1,039	$62	$11	$1,112	$23	$1,135
Operating income (loss)	304	(3)	1	302	7	309
Net income (loss) attributable to Alliant Energy common shareowners				245	(18)	227
Three Months Ended September 30, 2021
Revenues	$939	$50	$13	$1,002	$22	$1,024
Operating income (loss)	290	(5)	(5)	280	9	289
Net income attributable to Alliant Energy common shareowners				250	6	256

Alliant Energy					ATC Holdings,	Alliant
	Utility				Non-Utility,	Energy
	Electric	Gas	Other	Total	Parent and Other	Consolidated
	(in millions)
Nine Months Ended September 30, 2022
Revenues	$2,624	$418	$35	$3,077	$70	$3,147
Operating income	680	62	4	746	23	769
Net income attributable to Alliant Energy common shareowners				574	5	579
Nine Months Ended September 30, 2021
Revenues	$2,357	$289	$36	$2,682	$60	$2,742
Operating income (loss)	601	42	(4)	639	24	663
Net income attributable to Alliant Energy common shareowners				537	34	571

IPL	Electric	Gas	Other	Total
	(in millions)
Three Months Ended September 30, 2022
Revenues	$596	$33	$11	$640
Operating income (loss)	174	(3)	—	171
Net income available for common stock				154
Three Months Ended September 30, 2021
Revenues	$555	$31	$13	$599
Operating income (loss)	186	(3)	(3)	180
Net income available for common stock				157
Nine Months Ended September 30, 2022
Revenues	$1,438	$224	$34	$1,696
Operating income	353	33	3	389
Net income available for common stock				327
Nine Months Ended September 30, 2021
Revenues	$1,343	$165	$35	$1,543
Operating income (loss)	365	30	(1)	394
Net income available for common stock				322

WPL	Electric	Gas	Other	Total
	(in millions)
Three Months Ended September 30, 2022
Revenues	$443	$29	$—	$472
Operating income	130	—	1	131
Net income				91
Three Months Ended September 30, 2021
Revenues	$384	$19	$—	$403
Operating income (loss)	104	(2)	(2)	100
Net income				93
Nine Months Ended September 30, 2022
Revenues	$1,186	$194	$1	$1,381
Operating income	327	29	1	357
Net income				247
Nine Months Ended September 30, 2021
Revenues	$1,014	$124	$1	$1,139
Operating income (loss)	236	12	(3)	245
Net income				215

XML

Related Parties

9 Months Ended

Sep. 30, 2022

Related Party Transactions [Line Items]

Related Parties

RELATED PARTIES

Service Agreements - Pursuant to service agreements, IPL and WPL receive various administrative and general services from an affiliate, Corporate Services. These services are billed to IPL and WPL at cost based on expenses incurred by Corporate Services for the benefit of IPL and WPL, respectively. These costs consisted primarily of employee compensation and benefits, fees associated with various professional services, depreciation and amortization of property, plant and equipment, and a return on net assets. Corporate Services also acts as agent on behalf of IPL and WPL pursuant to the service agreements. As agent, Corporate Services enters into energy, capacity, ancillary services, and transmission sale and purchase transactions within MISO. Corporate Services assigns such sales and purchases among IPL and WPL based on statements received from MISO. The amounts billed for services provided, sales credited and purchases for the three and nine months ended September 30 were as follows (in millions):

	IPL				WPL
	Three Months		Nine Months		Three Months		Nine Months
	2022	2021	2022	2021	2022	2021	2022	2021
Corporate Services billings	$45	$50	$136	$138	$39	$37	$117	$113
Sales credited	11	4	11	9	31	16	62	23
Purchases billed	119	105	342	347	42	24	103	71

Net intercompany payables to Corporate Services were as follows (in millions):

	IPL		WPL
	September 30, 2022	December 31, 2021	September 30, 2022	December 31, 2021
Net payables to Corporate Services	$113	$110	$88	$83

ATC - Pursuant to various agreements, WPL receives a range of transmission services from ATC. WPL provides operation, maintenance, and construction services to ATC. WPL and ATC also bill each other for use of shared facilities owned by each party. The related amounts billed between the parties for the three and nine months ended September 30 were as follows (in millions):

	Three Months		Nine Months
	2022	2021	2022	2021
ATC billings to WPL	$38	$29	$107	$91
WPL billings to ATC	6	4	14	13

WPL owed ATC net amounts of $9 million as of September 30, 2022 and $10 million as of December 31, 2021.

IPL [Member]

Related Party Transactions [Line Items]

Related Parties

RELATED PARTIES

Service Agreements - Pursuant to service agreements, IPL and WPL receive various administrative and general services from an affiliate, Corporate Services. These services are billed to IPL and WPL at cost based on expenses incurred by Corporate Services for the benefit of IPL and WPL, respectively. These costs consisted primarily of employee compensation and benefits, fees associated with various professional services, depreciation and amortization of property, plant and equipment, and a return on net assets. Corporate Services also acts as agent on behalf of IPL and WPL pursuant to the service agreements. As agent, Corporate Services enters into energy, capacity, ancillary services, and transmission sale and purchase transactions within MISO. Corporate Services assigns such sales and purchases among IPL and WPL based on statements received from MISO. The amounts billed for services provided, sales credited and purchases for the three and nine months ended September 30 were as follows (in millions):

	IPL				WPL
	Three Months		Nine Months		Three Months		Nine Months
	2022	2021	2022	2021	2022	2021	2022	2021
Corporate Services billings	$45	$50	$136	$138	$39	$37	$117	$113
Sales credited	11	4	11	9	31	16	62	23
Purchases billed	119	105	342	347	42	24	103	71

Net intercompany payables to Corporate Services were as follows (in millions):

	IPL		WPL
	September 30, 2022	December 31, 2021	September 30, 2022	December 31, 2021
Net payables to Corporate Services	$113	$110	$88	$83

WPL [Member]

Related Party Transactions [Line Items]

Related Parties

RELATED PARTIES

Service Agreements - Pursuant to service agreements, IPL and WPL receive various administrative and general services from an affiliate, Corporate Services. These services are billed to IPL and WPL at cost based on expenses incurred by Corporate Services for the benefit of IPL and WPL, respectively. These costs consisted primarily of employee compensation and benefits, fees associated with various professional services, depreciation and amortization of property, plant and equipment, and a return on net assets. Corporate Services also acts as agent on behalf of IPL and WPL pursuant to the service agreements. As agent, Corporate Services enters into energy, capacity, ancillary services, and transmission sale and purchase transactions within MISO. Corporate Services assigns such sales and purchases among IPL and WPL based on statements received from MISO. The amounts billed for services provided, sales credited and purchases for the three and nine months ended September 30 were as follows (in millions):

	IPL				WPL
	Three Months		Nine Months		Three Months		Nine Months
	2022	2021	2022	2021	2022	2021	2022	2021
Corporate Services billings	$45	$50	$136	$138	$39	$37	$117	$113
Sales credited	11	4	11	9	31	16	62	23
Purchases billed	119	105	342	347	42	24	103	71

Net intercompany payables to Corporate Services were as follows (in millions):

	IPL		WPL
	September 30, 2022	December 31, 2021	September 30, 2022	December 31, 2021
Net payables to Corporate Services	$113	$110	$88	$83

ATC - Pursuant to various agreements, WPL receives a range of transmission services from ATC. WPL provides operation, maintenance, and construction services to ATC. WPL and ATC also bill each other for use of shared facilities owned by each party. The related amounts billed between the parties for the three and nine months ended September 30 were as follows (in millions):

	Three Months		Nine Months
	2022	2021	2022	2021
ATC billings to WPL	$38	$29	$107	$91
WPL billings to ATC	6	4	14	13

WPL owed ATC net amounts of $9 million as of September 30, 2022 and $10 million as of December 31, 2021.

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Summary Of Significant Accounting Policies (Policy)

9 Months Ended

Sep. 30, 2022

General, Basis of Accounting

The interim unaudited Financial Statements included herein have been prepared pursuant to the rules and regulations of the SEC. Accordingly, certain information and note disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted, although management believes that the disclosures are adequate to make the information presented not misleading. These Financial Statements should be read in conjunction with the financial statements and the notes thereto included in the 2021 Form 10-K.In the opinion of management, all adjustments, which unless otherwise noted are normal and recurring in nature, necessary for a fair presentation of the results of operations, financial position and cash flows have been made. Results for the nine months ended September 30, 2022 are not necessarily indicative of results that may be expected for the year ending December 31, 2022.

General, Use of Estimates

A change in management’s estimates or assumptions could have a material impact on financial condition and results of operations during the period in which such change occurred.

General, Reclassification

Certain prior period amounts in the Financial Statements and Notes have been reclassified to conform to the current period presentation for comparative purposes.

Cash and Cash Equivalents

At September 30, 2022, Alliant Energy’s, IPL’s and WPL’s cash and cash equivalents included $334 million, $39 million and $295 million of money market fund investments, respectively, with weighted average interest rates of 3%.

Variable Interest Entities

In 2022, WPL 2022 Solar Holdco, LLC was formed as a joint venture to own and operate project companies responsible for the construction, ownership and operation of various solar generation assets. Members of the joint venture were a WPL subsidiary (the managing member) and a tax equity partner. In the second quarter of 2022, the WPL subsidiary and the tax equity partner contributed $62 million and $29 million, respectively, to WPL 2022 Solar Holdco, LLC in exchange for membership interests, and $88 million of the contributed funds were paid to WPL in exchange for equity interests in the project companies. In the second quarter of 2022, Alliant Energy and WPL consolidated this joint venture as it was a VIE in which WPL held a variable interest, and WPL controlled decisions that were significant to the joint venture’s ongoing operations and economic results (i.e., WPL was the primary beneficiary).

In August 2022, the Inflation Reduction Act of 2022 was enacted. Following its enactment, WPL evaluated the provisions of the new legislation and determined that retaining full ownership of the solar projects is expected to result in lower costs for its customers. As a result, in the third quarter of 2022, WPL and the tax equity partner terminated the tax equity partnership, and WPL returned the $29 million of initial funding to the tax equity partner. Alliant Energy and WPL no longer expect their solar generation project construction costs to be financed with capital from tax equity partners, which would result in higher rate base amounts compared to those previously approved by the PSCW for WPL’s planned approximately 1,100 MW of solar generation. Alliant Energy and WPL concluded that no disallowance of anticipated higher rate base amounts was required as of September 30, 2022 given full ownership of WPL's planned solar generation is expected to result in lower costs for WPL's customers.

Refer to Note 6 for discussion of a noncontrolling interest that was initially associated with the joint venture prior to the termination of the tax equity partnership.

IPL [Member]

General, Basis of Accounting

The interim unaudited Financial Statements included herein have been prepared pursuant to the rules and regulations of the SEC. Accordingly, certain information and note disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted, although management believes that the disclosures are adequate to make the information presented not misleading. These Financial Statements should be read in conjunction with the financial statements and the notes thereto included in the 2021 Form 10-K.In the opinion of management, all adjustments, which unless otherwise noted are normal and recurring in nature, necessary for a fair presentation of the results of operations, financial position and cash flows have been made. Results for the nine months ended September 30, 2022 are not necessarily indicative of results that may be expected for the year ending December 31, 2022.

General, Use of Estimates

A change in management’s estimates or assumptions could have a material impact on financial condition and results of operations during the period in which such change occurred.

General, Reclassification

Certain prior period amounts in the Financial Statements and Notes have been reclassified to conform to the current period presentation for comparative purposes.

Cash and Cash Equivalents

At September 30, 2022, Alliant Energy’s, IPL’s and WPL’s cash and cash equivalents included $334 million, $39 million and $295 million of money market fund investments, respectively, with weighted average interest rates of 3%.

WPL [Member]

General, Basis of Accounting

The interim unaudited Financial Statements included herein have been prepared pursuant to the rules and regulations of the SEC. Accordingly, certain information and note disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted, although management believes that the disclosures are adequate to make the information presented not misleading. These Financial Statements should be read in conjunction with the financial statements and the notes thereto included in the 2021 Form 10-K.In the opinion of management, all adjustments, which unless otherwise noted are normal and recurring in nature, necessary for a fair presentation of the results of operations, financial position and cash flows have been made. Results for the nine months ended September 30, 2022 are not necessarily indicative of results that may be expected for the year ending December 31, 2022.

General, Use of Estimates

A change in management’s estimates or assumptions could have a material impact on financial condition and results of operations during the period in which such change occurred.

General, Reclassification

Certain prior period amounts in the Financial Statements and Notes have been reclassified to conform to the current period presentation for comparative purposes.

Cash and Cash Equivalents

At September 30, 2022, Alliant Energy’s, IPL’s and WPL’s cash and cash equivalents included $334 million, $39 million and $295 million of money market fund investments, respectively, with weighted average interest rates of 3%.

Variable Interest Entities

In 2022, WPL 2022 Solar Holdco, LLC was formed as a joint venture to own and operate project companies responsible for the construction, ownership and operation of various solar generation assets. Members of the joint venture were a WPL subsidiary (the managing member) and a tax equity partner. In the second quarter of 2022, the WPL subsidiary and the tax equity partner contributed $62 million and $29 million, respectively, to WPL 2022 Solar Holdco, LLC in exchange for membership interests, and $88 million of the contributed funds were paid to WPL in exchange for equity interests in the project companies. In the second quarter of 2022, Alliant Energy and WPL consolidated this joint venture as it was a VIE in which WPL held a variable interest, and WPL controlled decisions that were significant to the joint venture’s ongoing operations and economic results (i.e., WPL was the primary beneficiary).

In August 2022, the Inflation Reduction Act of 2022 was enacted. Following its enactment, WPL evaluated the provisions of the new legislation and determined that retaining full ownership of the solar projects is expected to result in lower costs for its customers. As a result, in the third quarter of 2022, WPL and the tax equity partner terminated the tax equity partnership, and WPL returned the $29 million of initial funding to the tax equity partner. Alliant Energy and WPL no longer expect their solar generation project construction costs to be financed with capital from tax equity partners, which would result in higher rate base amounts compared to those previously approved by the PSCW for WPL’s planned approximately 1,100 MW of solar generation. Alliant Energy and WPL concluded that no disallowance of anticipated higher rate base amounts was required as of September 30, 2022 given full ownership of WPL's planned solar generation is expected to result in lower costs for WPL's customers.

Refer to Note 6 for discussion of a noncontrolling interest that was initially associated with the joint venture prior to the termination of the tax equity partnership.

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Regulatory Matters (Tables)

9 Months Ended

Sep. 30, 2022

Regulatory Assets [Line Items]

Regulatory Assets

Regulatory assets were comprised of the following items (in millions):

	Alliant Energy		IPL		WPL
	September 30, 2022	December 31, 2021	September 30, 2022	December 31, 2021	September 30, 2022	December 31, 2021
Tax-related	$913	$934	$842	$884	$71	$50
Pension and OPEB costs	436	462	216	228	220	234
Asset retirement obligations	145	128	104	89	41	39
Commodity cost recovery	129	42	2	2	127	40
Derivatives	102	8	67	4	35	4
Assets retired early	75	92	56	66	19	26
IPL’s DAEC PPA amendment	72	90	72	90	—	—
WPL’s Western Wisconsin gas distribution expansion investments	49	52	—	—	49	52
Other	120	132	64	80	56	52
	$2,041	$1,940	$1,423	$1,443	$618	$497

Regulatory Liabilities

Regulatory liabilities were comprised of the following items (in millions):

	Alliant Energy		IPL		WPL
	September 30, 2022	December 31, 2021	September 30, 2022	December 31, 2021	September 30, 2022	December 31, 2021
Tax-related	$582	$585	$304	$312	$278	$273
Cost of removal obligations	398	384	258	252	140	132
Derivatives	312	166	164	77	148	89
WPL’s West Riverside liquidated damages	33	36	—	—	33	36
Electric transmission cost recovery	16	51	4	27	12	24
Other	46	49	31	23	15	26
	$1,387	$1,271	$761	$691	$626	$580

IPL [Member]

Regulatory Assets [Line Items]

Regulatory Assets

Regulatory assets were comprised of the following items (in millions):

	Alliant Energy		IPL		WPL
	September 30, 2022	December 31, 2021	September 30, 2022	December 31, 2021	September 30, 2022	December 31, 2021
Tax-related	$913	$934	$842	$884	$71	$50
Pension and OPEB costs	436	462	216	228	220	234
Asset retirement obligations	145	128	104	89	41	39
Commodity cost recovery	129	42	2	2	127	40
Derivatives	102	8	67	4	35	4
Assets retired early	75	92	56	66	19	26
IPL’s DAEC PPA amendment	72	90	72	90	—	—
WPL’s Western Wisconsin gas distribution expansion investments	49	52	—	—	49	52
Other	120	132	64	80	56	52
	$2,041	$1,940	$1,423	$1,443	$618	$497

Regulatory Liabilities

Regulatory liabilities were comprised of the following items (in millions):

	Alliant Energy		IPL		WPL
	September 30, 2022	December 31, 2021	September 30, 2022	December 31, 2021	September 30, 2022	December 31, 2021
Tax-related	$582	$585	$304	$312	$278	$273
Cost of removal obligations	398	384	258	252	140	132
Derivatives	312	166	164	77	148	89
WPL’s West Riverside liquidated damages	33	36	—	—	33	36
Electric transmission cost recovery	16	51	4	27	12	24
Other	46	49	31	23	15	26
	$1,387	$1,271	$761	$691	$626	$580

WPL [Member]

Regulatory Assets [Line Items]

Regulatory Assets

Regulatory assets were comprised of the following items (in millions):

	Alliant Energy		IPL		WPL
	September 30, 2022	December 31, 2021	September 30, 2022	December 31, 2021	September 30, 2022	December 31, 2021
Tax-related	$913	$934	$842	$884	$71	$50
Pension and OPEB costs	436	462	216	228	220	234
Asset retirement obligations	145	128	104	89	41	39
Commodity cost recovery	129	42	2	2	127	40
Derivatives	102	8	67	4	35	4
Assets retired early	75	92	56	66	19	26
IPL’s DAEC PPA amendment	72	90	72	90	—	—
WPL’s Western Wisconsin gas distribution expansion investments	49	52	—	—	49	52
Other	120	132	64	80	56	52
	$2,041	$1,940	$1,423	$1,443	$618	$497

Regulatory Liabilities

Regulatory liabilities were comprised of the following items (in millions):

	Alliant Energy		IPL		WPL
	September 30, 2022	December 31, 2021	September 30, 2022	December 31, 2021	September 30, 2022	December 31, 2021
Tax-related	$582	$585	$304	$312	$278	$273
Cost of removal obligations	398	384	258	252	140	132
Derivatives	312	166	164	77	148	89
WPL’s West Riverside liquidated damages	33	36	—	—	33	36
Electric transmission cost recovery	16	51	4	27	12	24
Other	46	49	31	23	15	26
	$1,387	$1,271	$761	$691	$626	$580

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Receivables (Tables)

9 Months Ended

Sep. 30, 2022

Receivables [Line Items]

Maximum And Average Outstanding Cash Proceeds

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
	2022	2021	2022	2021
Maximum outstanding aggregate cash proceeds	$36	$110	$66	$110
Average outstanding aggregate cash proceeds	3	65	8	52

Attributes of Receivables Sold Under the Receivables Agreement

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

	September 30, 2022	December 31, 2021
Customer accounts receivable	$169	$125
Unbilled utility revenues	92	104
Receivables sold to third party	261	229
Less: cash proceeds	1	1
Deferred proceeds	260	228
Less: allowance for expected credit losses	12	14
Fair value of deferred proceeds	$248	$214

Additional Attributes Of Receivables Sold Under The Receivables Agreement

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
	2022	2021	2022	2021
Collections	$670	$607	$1,731	$1,589
Write-offs, net of recoveries	3	4	6	7

IPL [Member]

Receivables [Line Items]

Maximum And Average Outstanding Cash Proceeds

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
	2022	2021	2022	2021
Maximum outstanding aggregate cash proceeds	$36	$110	$66	$110
Average outstanding aggregate cash proceeds	3	65	8	52

Attributes of Receivables Sold Under the Receivables Agreement

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

	September 30, 2022	December 31, 2021
Customer accounts receivable	$169	$125
Unbilled utility revenues	92	104
Receivables sold to third party	261	229
Less: cash proceeds	1	1
Deferred proceeds	260	228
Less: allowance for expected credit losses	12	14
Fair value of deferred proceeds	$248	$214

Additional Attributes Of Receivables Sold Under The Receivables Agreement

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
	2022	2021	2022	2021
Collections	$670	$607	$1,731	$1,589
Write-offs, net of recoveries	3	4	6	7

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Investments (Tables)

9 Months Ended

Sep. 30, 2022

Schedule of Equity Method Investments [Line Items]

Unconsolidated Equity Investments

Alliant Energy’s equity (income) loss from unconsolidated investments accounted for under the equity method of accounting for the three and nine months ended September 30 was as follows (in millions):

	Three Months		Nine Months
	2022	2021	2022	2021
ATC Holdings	($7)	($12)	($29)	($34)
Other	2	(1)	(8)	(13)
	($5)	($13)	($37)	($47)

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Common Equity (Tables)

9 Months Ended

Sep. 30, 2022

Schedule of Capitalization, Equity [Line Items]

Common Share Activity

A summary of Alliant Energy’s common stock activity was as follows:

Shares outstanding, January 1, 2022	250,474,529
Shareowner Direct Plan	324,533
Equity-based compensation plans	222,768
Shares outstanding, September 30, 2022	251,021,830

Changes in Shareowners' Equity

A summary of changes in shareowners’ equity was as follows (in millions):

Alliant Energy	Total Alliant Energy Common Equity
				Accumulated	Shares in
		Additional		Other	Deferred
	Common	Paid-In	Retained	Comprehensive	Compensation	Noncontrolling	Total
	Stock	Capital	Earnings	Loss	Trust	Interest	Equity
Three Months Ended September 30, 2022
Beginning balance, June 30, 2022	$3	$2,759	$3,387	$—	($12)	$29	$6,166
Net income attributable to Alliant Energy common shareowners			227				227
Common stock dividends ($0.4275 per share)			(106)				(106)
Shareowner Direct Plan issuances		6					6
Equity-based compensation plans and other		2			(1)		1
Distributions to noncontrolling interest						(29)	(29)
Ending balance, September 30, 2022	$3	$2,767	$3,508	$—	($13)	$—	$6,265

Alliant Energy	Total Alliant Energy Common Equity
				Accumulated	Shares in	Cumulative
		Additional		Other	Deferred	Preferred
	Common	Paid-In	Retained	Comprehensive	Compensation	Stock	Total
	Stock	Capital	Earnings	Loss	Trust	of IPL	Equity
Three Months Ended September 30, 2021
Beginning balance, June 30, 2021	$3	$2,722	$3,106	($1)	($11)	$200	$6,019
Net income attributable to Alliant Energy common shareowners			256				256
Common stock dividends ($0.4025 per share)			(101)				(101)
Shareowner Direct Plan issuances		6					6
Equity-based compensation plans and other		5					5
Ending balance, September 30, 2021	$3	$2,733	$3,261	($1)	($11)	$200	$6,185

Alliant Energy	Total Alliant Energy Common Equity
				Accumulated	Shares in
		Additional		Other	Deferred
	Common	Paid-In	Retained	Comprehensive	Compensation	Noncontrolling	Total
	Stock	Capital	Earnings	Loss	Trust	Interest	Equity
Nine Months Ended September 30, 2022
Beginning balance, December 31, 2021	$3	$2,749	$3,250	$—	($12)	$—	$5,990
Net income attributable to Alliant Energy common shareowners			579				579
Common stock dividends ($1.2825 per share)			(322)				(322)
Shareowner Direct Plan issuances		19					19
Equity-based compensation plans and other		(1)	1		(1)		(1)
Contributions from noncontrolling interest						29	29
Distributions to noncontrolling interest						(29)	(29)
Ending balance, September 30, 2022	$3	$2,767	$3,508	$—	($13)	$—	$6,265

Alliant Energy	Total Alliant Energy Common Equity
				Accumulated	Shares in	Cumulative
		Additional		Other	Deferred	Preferred
	Common	Paid-In	Retained	Comprehensive	Compensation	Stock	Total
	Stock	Capital	Earnings	Loss	Trust	of IPL	Equity
Nine Months Ended September 30, 2021
Beginning balance, December 31, 2020	$2	$2,704	$2,994	($1)	($11)	$200	$5,888
Net income attributable to Alliant Energy common shareowners			571				571
Common stock dividends ($1.2075 per share)			(304)				(304)
Shareowner Direct Plan issuances	1	21					22
Equity-based compensation plans and other		8					8
Ending balance, September 30, 2021	$3	$2,733	$3,261	($1)	($11)	$200	$6,185

IPL	Total IPL Common Equity
		Additional		Cumulative
	Common	Paid-In	Retained	Preferred	Total
	Stock	Capital	Earnings	Stock	Equity
Three Months Ended September 30, 2022
Beginning balance, June 30, 2022	$33	$2,807	$942	$—	$3,782
Net income available for common stock			154		154
Common stock dividends			(80)		(80)
Ending balance, September 30, 2022	$33	$2,807	$1,016	$—	$3,856
Three Months Ended September 30, 2021
Beginning balance, June 30, 2021	$33	$2,802	$944	$200	$3,979
Net income available for common stock			157		157
Common stock dividends			(101)		(101)
Ending balance, September 30, 2021	$33	$2,802	$1,000	$200	$4,035

IPL	Total IPL Common Equity
		Additional		Cumulative
	Common	Paid-In	Retained	Preferred	Total
	Stock	Capital	Earnings	Stock	Equity
Nine Months Ended September 30, 2022
Beginning balance, December 31, 2021	$33	$2,807	$929	$—	$3,769
Net income available for common stock			327		327
Common stock dividends			(240)		(240)
Ending balance, September 30, 2022	$33	$2,807	$1,016	$—	$3,856
Nine Months Ended September 30, 2021
Beginning balance, December 31, 2020	$33	$2,752	$979	$200	$3,964
Net income available for common stock			322		322
Common stock dividends			(301)		(301)
Capital contributions from parent		50			50
Ending balance, September 30, 2021	$33	$2,802	$1,000	$200	$4,035

WPL	Total WPL Common Equity
		Additional
	Common	Paid-In	Retained	Noncontrolling	Total
	Stock	Capital	Earnings	Interest	Equity
Three Months Ended September 30, 2022
Beginning balance, June 30, 2022	$66	$1,968	$1,120	$29	$3,183
Net income			91		91
Common stock dividends			(44)		(44)
Capital contributions from parent		155			155
Distributions to noncontrolling interest				(29)	(29)
Ending balance, September 30, 2022	$66	$2,123	$1,167	$—	$3,356
Three Months Ended September 30, 2021
Beginning balance, June 30, 2021	$66	$1,669	$990	$—	$2,725
Net income			93		93
Common stock dividends			(41)		(41)
Capital contributions from parent		35			35
Ending balance, September 30, 2021	$66	$1,704	$1,042	$—	$2,812

WPL	Total WPL Common Equity
		Additional
	Common	Paid-In	Retained	Noncontrolling	Total
	Stock	Capital	Earnings	Interest	Equity
Nine Months Ended September 30, 2022
Beginning balance, December 31, 2021	$66	$1,704	$1,053	$—	$2,823
Net income			247		247
Common stock dividends			(133)		(133)
Capital contributions from parent		420			420
Contributions from noncontrolling interest				29	29
Distributions to noncontrolling interest				(29)	(29)
Other		(1)			(1)
Ending balance, September 30, 2022	$66	$2,123	$1,167	$—	$3,356
Nine Months Ended September 30, 2021
Beginning balance, December 31, 2020	$66	$1,459	$953	$—	$2,478
Net income			215		215
Common stock dividends			(126)		(126)
Capital contributions from parent		245			245
Ending balance, September 30, 2021	$66	$1,704	$1,042	$—	$2,812

IPL [Member]

Schedule of Capitalization, Equity [Line Items]

Changes in Shareowners' Equity

A summary of changes in shareowners’ equity was as follows (in millions):

Alliant Energy	Total Alliant Energy Common Equity
				Accumulated	Shares in
		Additional		Other	Deferred
	Common	Paid-In	Retained	Comprehensive	Compensation	Noncontrolling	Total
	Stock	Capital	Earnings	Loss	Trust	Interest	Equity
Three Months Ended September 30, 2022
Beginning balance, June 30, 2022	$3	$2,759	$3,387	$—	($12)	$29	$6,166
Net income attributable to Alliant Energy common shareowners			227				227
Common stock dividends ($0.4275 per share)			(106)				(106)
Shareowner Direct Plan issuances		6					6
Equity-based compensation plans and other		2			(1)		1
Distributions to noncontrolling interest						(29)	(29)
Ending balance, September 30, 2022	$3	$2,767	$3,508	$—	($13)	$—	$6,265

Alliant Energy	Total Alliant Energy Common Equity
				Accumulated	Shares in	Cumulative
		Additional		Other	Deferred	Preferred
	Common	Paid-In	Retained	Comprehensive	Compensation	Stock	Total
	Stock	Capital	Earnings	Loss	Trust	of IPL	Equity
Three Months Ended September 30, 2021
Beginning balance, June 30, 2021	$3	$2,722	$3,106	($1)	($11)	$200	$6,019
Net income attributable to Alliant Energy common shareowners			256				256
Common stock dividends ($0.4025 per share)			(101)				(101)
Shareowner Direct Plan issuances		6					6
Equity-based compensation plans and other		5					5
Ending balance, September 30, 2021	$3	$2,733	$3,261	($1)	($11)	$200	$6,185

Alliant Energy	Total Alliant Energy Common Equity
				Accumulated	Shares in
		Additional		Other	Deferred
	Common	Paid-In	Retained	Comprehensive	Compensation	Noncontrolling	Total
	Stock	Capital	Earnings	Loss	Trust	Interest	Equity
Nine Months Ended September 30, 2022
Beginning balance, December 31, 2021	$3	$2,749	$3,250	$—	($12)	$—	$5,990
Net income attributable to Alliant Energy common shareowners			579				579
Common stock dividends ($1.2825 per share)			(322)				(322)
Shareowner Direct Plan issuances		19					19
Equity-based compensation plans and other		(1)	1		(1)		(1)
Contributions from noncontrolling interest						29	29
Distributions to noncontrolling interest						(29)	(29)
Ending balance, September 30, 2022	$3	$2,767	$3,508	$—	($13)	$—	$6,265

Alliant Energy	Total Alliant Energy Common Equity
				Accumulated	Shares in	Cumulative
		Additional		Other	Deferred	Preferred
	Common	Paid-In	Retained	Comprehensive	Compensation	Stock	Total
	Stock	Capital	Earnings	Loss	Trust	of IPL	Equity
Nine Months Ended September 30, 2021
Beginning balance, December 31, 2020	$2	$2,704	$2,994	($1)	($11)	$200	$5,888
Net income attributable to Alliant Energy common shareowners			571				571
Common stock dividends ($1.2075 per share)			(304)				(304)
Shareowner Direct Plan issuances	1	21					22
Equity-based compensation plans and other		8					8
Ending balance, September 30, 2021	$3	$2,733	$3,261	($1)	($11)	$200	$6,185

IPL	Total IPL Common Equity
		Additional		Cumulative
	Common	Paid-In	Retained	Preferred	Total
	Stock	Capital	Earnings	Stock	Equity
Three Months Ended September 30, 2022
Beginning balance, June 30, 2022	$33	$2,807	$942	$—	$3,782
Net income available for common stock			154		154
Common stock dividends			(80)		(80)
Ending balance, September 30, 2022	$33	$2,807	$1,016	$—	$3,856
Three Months Ended September 30, 2021
Beginning balance, June 30, 2021	$33	$2,802	$944	$200	$3,979
Net income available for common stock			157		157
Common stock dividends			(101)		(101)
Ending balance, September 30, 2021	$33	$2,802	$1,000	$200	$4,035

IPL	Total IPL Common Equity
		Additional		Cumulative
	Common	Paid-In	Retained	Preferred	Total
	Stock	Capital	Earnings	Stock	Equity
Nine Months Ended September 30, 2022
Beginning balance, December 31, 2021	$33	$2,807	$929	$—	$3,769
Net income available for common stock			327		327
Common stock dividends			(240)		(240)
Ending balance, September 30, 2022	$33	$2,807	$1,016	$—	$3,856
Nine Months Ended September 30, 2021
Beginning balance, December 31, 2020	$33	$2,752	$979	$200	$3,964
Net income available for common stock			322		322
Common stock dividends			(301)		(301)
Capital contributions from parent		50			50
Ending balance, September 30, 2021	$33	$2,802	$1,000	$200	$4,035

WPL	Total WPL Common Equity
		Additional
	Common	Paid-In	Retained	Noncontrolling	Total
	Stock	Capital	Earnings	Interest	Equity
Three Months Ended September 30, 2022
Beginning balance, June 30, 2022	$66	$1,968	$1,120	$29	$3,183
Net income			91		91
Common stock dividends			(44)		(44)
Capital contributions from parent		155			155
Distributions to noncontrolling interest				(29)	(29)
Ending balance, September 30, 2022	$66	$2,123	$1,167	$—	$3,356
Three Months Ended September 30, 2021
Beginning balance, June 30, 2021	$66	$1,669	$990	$—	$2,725
Net income			93		93
Common stock dividends			(41)		(41)
Capital contributions from parent		35			35
Ending balance, September 30, 2021	$66	$1,704	$1,042	$—	$2,812

WPL	Total WPL Common Equity
		Additional
	Common	Paid-In	Retained	Noncontrolling	Total
	Stock	Capital	Earnings	Interest	Equity
Nine Months Ended September 30, 2022
Beginning balance, December 31, 2021	$66	$1,704	$1,053	$—	$2,823
Net income			247		247
Common stock dividends			(133)		(133)
Capital contributions from parent		420			420
Contributions from noncontrolling interest				29	29
Distributions to noncontrolling interest				(29)	(29)
Other		(1)			(1)
Ending balance, September 30, 2022	$66	$2,123	$1,167	$—	$3,356
Nine Months Ended September 30, 2021
Beginning balance, December 31, 2020	$66	$1,459	$953	$—	$2,478
Net income			215		215
Common stock dividends			(126)		(126)
Capital contributions from parent		245			245
Ending balance, September 30, 2021	$66	$1,704	$1,042	$—	$2,812

WPL [Member]

Schedule of Capitalization, Equity [Line Items]

Changes in Shareowners' Equity

A summary of changes in shareowners’ equity was as follows (in millions):

Alliant Energy	Total Alliant Energy Common Equity
				Accumulated	Shares in
		Additional		Other	Deferred
	Common	Paid-In	Retained	Comprehensive	Compensation	Noncontrolling	Total
	Stock	Capital	Earnings	Loss	Trust	Interest	Equity
Three Months Ended September 30, 2022
Beginning balance, June 30, 2022	$3	$2,759	$3,387	$—	($12)	$29	$6,166
Net income attributable to Alliant Energy common shareowners			227				227
Common stock dividends ($0.4275 per share)			(106)				(106)
Shareowner Direct Plan issuances		6					6
Equity-based compensation plans and other		2			(1)		1
Distributions to noncontrolling interest						(29)	(29)
Ending balance, September 30, 2022	$3	$2,767	$3,508	$—	($13)	$—	$6,265

Alliant Energy	Total Alliant Energy Common Equity
				Accumulated	Shares in	Cumulative
		Additional		Other	Deferred	Preferred
	Common	Paid-In	Retained	Comprehensive	Compensation	Stock	Total
	Stock	Capital	Earnings	Loss	Trust	of IPL	Equity
Three Months Ended September 30, 2021
Beginning balance, June 30, 2021	$3	$2,722	$3,106	($1)	($11)	$200	$6,019
Net income attributable to Alliant Energy common shareowners			256				256
Common stock dividends ($0.4025 per share)			(101)				(101)
Shareowner Direct Plan issuances		6					6
Equity-based compensation plans and other		5					5
Ending balance, September 30, 2021	$3	$2,733	$3,261	($1)	($11)	$200	$6,185

Alliant Energy	Total Alliant Energy Common Equity
				Accumulated	Shares in
		Additional		Other	Deferred
	Common	Paid-In	Retained	Comprehensive	Compensation	Noncontrolling	Total
	Stock	Capital	Earnings	Loss	Trust	Interest	Equity
Nine Months Ended September 30, 2022
Beginning balance, December 31, 2021	$3	$2,749	$3,250	$—	($12)	$—	$5,990
Net income attributable to Alliant Energy common shareowners			579				579
Common stock dividends ($1.2825 per share)			(322)				(322)
Shareowner Direct Plan issuances		19					19
Equity-based compensation plans and other		(1)	1		(1)		(1)
Contributions from noncontrolling interest						29	29
Distributions to noncontrolling interest						(29)	(29)
Ending balance, September 30, 2022	$3	$2,767	$3,508	$—	($13)	$—	$6,265

Alliant Energy	Total Alliant Energy Common Equity
				Accumulated	Shares in	Cumulative
		Additional		Other	Deferred	Preferred
	Common	Paid-In	Retained	Comprehensive	Compensation	Stock	Total
	Stock	Capital	Earnings	Loss	Trust	of IPL	Equity
Nine Months Ended September 30, 2021
Beginning balance, December 31, 2020	$2	$2,704	$2,994	($1)	($11)	$200	$5,888
Net income attributable to Alliant Energy common shareowners			571				571
Common stock dividends ($1.2075 per share)			(304)				(304)
Shareowner Direct Plan issuances	1	21					22
Equity-based compensation plans and other		8					8
Ending balance, September 30, 2021	$3	$2,733	$3,261	($1)	($11)	$200	$6,185

IPL	Total IPL Common Equity
		Additional		Cumulative
	Common	Paid-In	Retained	Preferred	Total
	Stock	Capital	Earnings	Stock	Equity
Three Months Ended September 30, 2022
Beginning balance, June 30, 2022	$33	$2,807	$942	$—	$3,782
Net income available for common stock			154		154
Common stock dividends			(80)		(80)
Ending balance, September 30, 2022	$33	$2,807	$1,016	$—	$3,856
Three Months Ended September 30, 2021
Beginning balance, June 30, 2021	$33	$2,802	$944	$200	$3,979
Net income available for common stock			157		157
Common stock dividends			(101)		(101)
Ending balance, September 30, 2021	$33	$2,802	$1,000	$200	$4,035

IPL	Total IPL Common Equity
		Additional		Cumulative
	Common	Paid-In	Retained	Preferred	Total
	Stock	Capital	Earnings	Stock	Equity
Nine Months Ended September 30, 2022
Beginning balance, December 31, 2021	$33	$2,807	$929	$—	$3,769
Net income available for common stock			327		327
Common stock dividends			(240)		(240)
Ending balance, September 30, 2022	$33	$2,807	$1,016	$—	$3,856
Nine Months Ended September 30, 2021
Beginning balance, December 31, 2020	$33	$2,752	$979	$200	$3,964
Net income available for common stock			322		322
Common stock dividends			(301)		(301)
Capital contributions from parent		50			50
Ending balance, September 30, 2021	$33	$2,802	$1,000	$200	$4,035

WPL	Total WPL Common Equity
		Additional
	Common	Paid-In	Retained	Noncontrolling	Total
	Stock	Capital	Earnings	Interest	Equity
Three Months Ended September 30, 2022
Beginning balance, June 30, 2022	$66	$1,968	$1,120	$29	$3,183
Net income			91		91
Common stock dividends			(44)		(44)
Capital contributions from parent		155			155
Distributions to noncontrolling interest				(29)	(29)
Ending balance, September 30, 2022	$66	$2,123	$1,167	$—	$3,356
Three Months Ended September 30, 2021
Beginning balance, June 30, 2021	$66	$1,669	$990	$—	$2,725
Net income			93		93
Common stock dividends			(41)		(41)
Capital contributions from parent		35			35
Ending balance, September 30, 2021	$66	$1,704	$1,042	$—	$2,812

WPL	Total WPL Common Equity
		Additional
	Common	Paid-In	Retained	Noncontrolling	Total
	Stock	Capital	Earnings	Interest	Equity
Nine Months Ended September 30, 2022
Beginning balance, December 31, 2021	$66	$1,704	$1,053	$—	$2,823
Net income			247		247
Common stock dividends			(133)		(133)
Capital contributions from parent		420			420
Contributions from noncontrolling interest				29	29
Distributions to noncontrolling interest				(29)	(29)
Other		(1)			(1)
Ending balance, September 30, 2022	$66	$2,123	$1,167	$—	$3,356
Nine Months Ended September 30, 2021
Beginning balance, December 31, 2020	$66	$1,459	$953	$—	$2,478
Net income			215		215
Common stock dividends			(126)		(126)
Capital contributions from parent		245			245
Ending balance, September 30, 2021	$66	$1,704	$1,042	$—	$2,812

XML

Debt (Tables)

9 Months Ended

Sep. 30, 2022

Short-term Debt [Line Items]

Other Short-Term Borrowings

Information regarding Alliant Energy’s, IPL’s and WPL’s commercial paper classified as short-term debt was as follows (dollars in millions):

September 30, 2022	Alliant Energy	IPL	WPL
Amount outstanding	$383	$—	$—
Weighted average interest rates	3.4%	N/A	N/A
Available credit facility capacity	$617	$250	$300

	Alliant Energy		IPL		WPL
Three Months Ended September 30	2022	2021	2022	2021	2022	2021
Maximum amount outstanding (based on daily outstanding balances)	$449	$648	$—	$8	$251	$320
Average amount outstanding (based on daily outstanding balances)	$353	$560	$—	$—	$110	$221
Weighted average interest rates	2.4%	0.2%	—%	0.2%	2.0%	0.1%
Nine Months Ended September 30
Maximum amount outstanding (based on daily outstanding balances)	$577	$648	$—	$19	$252	$320
Average amount outstanding (based on daily outstanding balances)	$377	$479	$—	$—	$160	$196
Weighted average interest rates	1.2%	0.2%	—%	0.2%	0.9%	0.1%

IPL [Member]

Short-term Debt [Line Items]

Other Short-Term Borrowings

Information regarding Alliant Energy’s, IPL’s and WPL’s commercial paper classified as short-term debt was as follows (dollars in millions):

September 30, 2022	Alliant Energy	IPL	WPL
Amount outstanding	$383	$—	$—
Weighted average interest rates	3.4%	N/A	N/A
Available credit facility capacity	$617	$250	$300

	Alliant Energy		IPL		WPL
Three Months Ended September 30	2022	2021	2022	2021	2022	2021
Maximum amount outstanding (based on daily outstanding balances)	$449	$648	$—	$8	$251	$320
Average amount outstanding (based on daily outstanding balances)	$353	$560	$—	$—	$110	$221
Weighted average interest rates	2.4%	0.2%	—%	0.2%	2.0%	0.1%
Nine Months Ended September 30
Maximum amount outstanding (based on daily outstanding balances)	$577	$648	$—	$19	$252	$320
Average amount outstanding (based on daily outstanding balances)	$377	$479	$—	$—	$160	$196
Weighted average interest rates	1.2%	0.2%	—%	0.2%	0.9%	0.1%

WPL [Member]

Short-term Debt [Line Items]

Other Short-Term Borrowings

Information regarding Alliant Energy’s, IPL’s and WPL’s commercial paper classified as short-term debt was as follows (dollars in millions):

September 30, 2022	Alliant Energy	IPL	WPL
Amount outstanding	$383	$—	$—
Weighted average interest rates	3.4%	N/A	N/A
Available credit facility capacity	$617	$250	$300

	Alliant Energy		IPL		WPL
Three Months Ended September 30	2022	2021	2022	2021	2022	2021
Maximum amount outstanding (based on daily outstanding balances)	$449	$648	$—	$8	$251	$320
Average amount outstanding (based on daily outstanding balances)	$353	$560	$—	$—	$110	$221
Weighted average interest rates	2.4%	0.2%	—%	0.2%	2.0%	0.1%
Nine Months Ended September 30
Maximum amount outstanding (based on daily outstanding balances)	$577	$648	$—	$19	$252	$320
Average amount outstanding (based on daily outstanding balances)	$377	$479	$—	$—	$160	$196
Weighted average interest rates	1.2%	0.2%	—%	0.2%	0.9%	0.1%

XML

Revenues (Tables)

9 Months Ended

Sep. 30, 2022

Disaggregation of Revenue [Line Items]

Disaggregation of Revenue

Disaggregation of revenues from contracts with customers, which correlates to revenues for each reportable segment, was as follows (in millions):

	Alliant Energy		IPL		WPL
Three Months Ended September 30	2022	2021	2022	2021	2022	2021
Electric Utility:
Retail - residential	$376	$348	$222	$207	$154	$141
Retail - commercial	243	232	165	160	78	72
Retail - industrial	289	265	172	158	117	107
Wholesale	68	55	19	18	49	37
Bulk power and other	63	39	18	12	45	27
Total Electric Utility	1,039	939	596	555	443	384
Gas Utility:
Retail - residential	28	24	14	14	14	10
Retail - commercial	18	13	8	8	10	5
Retail - industrial	4	3	3	3	1	—
Transportation/other	12	10	8	6	4	4
Total Gas Utility	62	50	33	31	29	19
Other Utility:
Steam	9	9	9	9	—	—
Other utility	2	4	2	4	—	—
Total Other Utility	11	13	11	13	—	—
Non-Utility and Other:
Travero and other	23	22	—	—	—	—
Total Non-Utility and Other	23	22	—	—	—	—
Total revenues	$1,135	$1,024	$640	$599	$472	$403

	Alliant Energy		IPL		WPL
Nine Months Ended September 30	2022	2021	2022	2021	2022	2021
Electric Utility:
Retail - residential	$956	$868	$529	$488	$427	$380
Retail - commercial	628	579	411	385	217	194
Retail - industrial	743	677	418	386	325	291
Wholesale	168	142	49	44	119	98
Bulk power and other	129	91	31	40	98	51
Total Electric Utility	2,624	2,357	1,438	1,343	1,186	1,014
Gas Utility:
Retail - residential	237	162	127	90	110	72
Retail - commercial	127	85	62	47	65	38
Retail - industrial	15	11	10	8	5	3
Transportation/other	39	31	25	20	14	11
Total Gas Utility	418	289	224	165	194	124
Other Utility:
Steam	29	27	29	27	—	—
Other utility	6	9	5	8	1	1
Total Other Utility	35	36	34	35	1	1
Non-Utility and Other:
Travero and other	70	60	—	—	—	—
Total Non-Utility and Other	70	60	—	—	—	—
Total revenues	$3,147	$2,742	$1,696	$1,543	$1,381	$1,139

IPL [Member]

Disaggregation of Revenue [Line Items]

Disaggregation of Revenue

Disaggregation of revenues from contracts with customers, which correlates to revenues for each reportable segment, was as follows (in millions):

	Alliant Energy		IPL		WPL
Three Months Ended September 30	2022	2021	2022	2021	2022	2021
Electric Utility:
Retail - residential	$376	$348	$222	$207	$154	$141
Retail - commercial	243	232	165	160	78	72
Retail - industrial	289	265	172	158	117	107
Wholesale	68	55	19	18	49	37
Bulk power and other	63	39	18	12	45	27
Total Electric Utility	1,039	939	596	555	443	384
Gas Utility:
Retail - residential	28	24	14	14	14	10
Retail - commercial	18	13	8	8	10	5
Retail - industrial	4	3	3	3	1	—
Transportation/other	12	10	8	6	4	4
Total Gas Utility	62	50	33	31	29	19
Other Utility:
Steam	9	9	9	9	—	—
Other utility	2	4	2	4	—	—
Total Other Utility	11	13	11	13	—	—
Non-Utility and Other:
Travero and other	23	22	—	—	—	—
Total Non-Utility and Other	23	22	—	—	—	—
Total revenues	$1,135	$1,024	$640	$599	$472	$403

	Alliant Energy		IPL		WPL
Nine Months Ended September 30	2022	2021	2022	2021	2022	2021
Electric Utility:
Retail - residential	$956	$868	$529	$488	$427	$380
Retail - commercial	628	579	411	385	217	194
Retail - industrial	743	677	418	386	325	291
Wholesale	168	142	49	44	119	98
Bulk power and other	129	91	31	40	98	51
Total Electric Utility	2,624	2,357	1,438	1,343	1,186	1,014
Gas Utility:
Retail - residential	237	162	127	90	110	72
Retail - commercial	127	85	62	47	65	38
Retail - industrial	15	11	10	8	5	3
Transportation/other	39	31	25	20	14	11
Total Gas Utility	418	289	224	165	194	124
Other Utility:
Steam	29	27	29	27	—	—
Other utility	6	9	5	8	1	1
Total Other Utility	35	36	34	35	1	1
Non-Utility and Other:
Travero and other	70	60	—	—	—	—
Total Non-Utility and Other	70	60	—	—	—	—
Total revenues	$3,147	$2,742	$1,696	$1,543	$1,381	$1,139

WPL [Member]

Disaggregation of Revenue [Line Items]

Disaggregation of Revenue

Disaggregation of revenues from contracts with customers, which correlates to revenues for each reportable segment, was as follows (in millions):

	Alliant Energy		IPL		WPL
Three Months Ended September 30	2022	2021	2022	2021	2022	2021
Electric Utility:
Retail - residential	$376	$348	$222	$207	$154	$141
Retail - commercial	243	232	165	160	78	72
Retail - industrial	289	265	172	158	117	107
Wholesale	68	55	19	18	49	37
Bulk power and other	63	39	18	12	45	27
Total Electric Utility	1,039	939	596	555	443	384
Gas Utility:
Retail - residential	28	24	14	14	14	10
Retail - commercial	18	13	8	8	10	5
Retail - industrial	4	3	3	3	1	—
Transportation/other	12	10	8	6	4	4
Total Gas Utility	62	50	33	31	29	19
Other Utility:
Steam	9	9	9	9	—	—
Other utility	2	4	2	4	—	—
Total Other Utility	11	13	11	13	—	—
Non-Utility and Other:
Travero and other	23	22	—	—	—	—
Total Non-Utility and Other	23	22	—	—	—	—
Total revenues	$1,135	$1,024	$640	$599	$472	$403

	Alliant Energy		IPL		WPL
Nine Months Ended September 30	2022	2021	2022	2021	2022	2021
Electric Utility:
Retail - residential	$956	$868	$529	$488	$427	$380
Retail - commercial	628	579	411	385	217	194
Retail - industrial	743	677	418	386	325	291
Wholesale	168	142	49	44	119	98
Bulk power and other	129	91	31	40	98	51
Total Electric Utility	2,624	2,357	1,438	1,343	1,186	1,014
Gas Utility:
Retail - residential	237	162	127	90	110	72
Retail - commercial	127	85	62	47	65	38
Retail - industrial	15	11	10	8	5	3
Transportation/other	39	31	25	20	14	11
Total Gas Utility	418	289	224	165	194	124
Other Utility:
Steam	29	27	29	27	—	—
Other utility	6	9	5	8	1	1
Total Other Utility	35	36	34	35	1	1
Non-Utility and Other:
Travero and other	70	60	—	—	—	—
Total Non-Utility and Other	70	60	—	—	—	—
Total revenues	$3,147	$2,742	$1,696	$1,543	$1,381	$1,139

XML

Income Taxes (Tables)

9 Months Ended

Sep. 30, 2022

Income Taxes [Line Items]

Schedule Of Effective Income Tax Rates

Overall effective income tax rates, which were computed by dividing income tax expense (benefit) by income before income taxes, were as follows. The effective income tax rates were different than the federal statutory rate primarily due to state income taxes, production tax credits, amortization of excess deferred taxes and the effect of rate-making on property-related differences. The increases in Alliant Energy’s and WPL’s overall effective income tax rates for the three

and nine months ended September 30, 2022 compared to the same periods in 2021 were primarily due to decreased amortization of excess deferred taxes primarily at WPL.

	Alliant Energy				IPL				WPL
	Three Months		Nine Months		Three Months		Nine Months		Three Months		Nine Months
	2022	2021	2022	2021	2022	2021	2022	2021	2022	2021	2022	2021
Overall income tax rate	6%	(9%)	4%	(13%)	(12%)	(8%)	(14%)	(11%)	15%	(19%)	17%	(24%)

Summary Of Tax Credit Carryforwards

At September 30, 2022, the remaining carryforwards and expiration dates were estimated as follows (in millions):

	Range of Expiration Dates	Alliant Energy	IPL	WPL
State net operating losses	2022-2042	$500	$9	$2
Federal tax credits	2022-2042	655	437	208

IPL [Member]

Income Taxes [Line Items]

Schedule Of Effective Income Tax Rates

Overall effective income tax rates, which were computed by dividing income tax expense (benefit) by income before income taxes, were as follows. The effective income tax rates were different than the federal statutory rate primarily due to state income taxes, production tax credits, amortization of excess deferred taxes and the effect of rate-making on property-related differences. The increases in Alliant Energy’s and WPL’s overall effective income tax rates for the three

and nine months ended September 30, 2022 compared to the same periods in 2021 were primarily due to decreased amortization of excess deferred taxes primarily at WPL.

	Alliant Energy				IPL				WPL
	Three Months		Nine Months		Three Months		Nine Months		Three Months		Nine Months
	2022	2021	2022	2021	2022	2021	2022	2021	2022	2021	2022	2021
Overall income tax rate	6%	(9%)	4%	(13%)	(12%)	(8%)	(14%)	(11%)	15%	(19%)	17%	(24%)

Summary Of Tax Credit Carryforwards

At September 30, 2022, the remaining carryforwards and expiration dates were estimated as follows (in millions):

	Range of Expiration Dates	Alliant Energy	IPL	WPL
State net operating losses	2022-2042	$500	$9	$2
Federal tax credits	2022-2042	655	437	208

WPL [Member]

Income Taxes [Line Items]

Schedule Of Effective Income Tax Rates

Overall effective income tax rates, which were computed by dividing income tax expense (benefit) by income before income taxes, were as follows. The effective income tax rates were different than the federal statutory rate primarily due to state income taxes, production tax credits, amortization of excess deferred taxes and the effect of rate-making on property-related differences. The increases in Alliant Energy’s and WPL’s overall effective income tax rates for the three

and nine months ended September 30, 2022 compared to the same periods in 2021 were primarily due to decreased amortization of excess deferred taxes primarily at WPL.

	Alliant Energy				IPL				WPL
	Three Months		Nine Months		Three Months		Nine Months		Three Months		Nine Months
	2022	2021	2022	2021	2022	2021	2022	2021	2022	2021	2022	2021
Overall income tax rate	6%	(9%)	4%	(13%)	(12%)	(8%)	(14%)	(11%)	15%	(19%)	17%	(24%)

Summary Of Tax Credit Carryforwards

At September 30, 2022, the remaining carryforwards and expiration dates were estimated as follows (in millions):

	Range of Expiration Dates	Alliant Energy	IPL	WPL
State net operating losses	2022-2042	$500	$9	$2
Federal tax credits	2022-2042	655	437	208

XML

Benefit Plans (Tables)

9 Months Ended

Sep. 30, 2022

Defined Benefit Plan Disclosure [Line Items]

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 Plans				OPEB Plans
	Three Months		Nine Months		Three Months		Nine Months
Alliant Energy	2022	2021	2022	2021	2022	2021	2022	2021
Service cost	$3	$2	$7	$8	$—	$1	$2	$3
Interest cost	9	9	27	26	1	1	4	3
Expected return on plan assets	(18)	(17)	(52)	(51)	—	(1)	(3)	(3)
Amortization of prior service credit	—	(1)	—	(1)	—	—	—	—
Amortization of actuarial loss	8	10	24	29	1	1	2	3
	$2	$3	$6	$11	$2	$2	$5	$6

	Defined Benefit Pension Plans				OPEB Plans
	Three Months		Nine Months		Three Months		Nine Months
IPL	2022	2021	2022	2021	2022	2021	2022	2021
Service cost	$1	$1	$4	$5	$—	$—	$1	$1
Interest cost	4	4	12	12	1	1	2	2
Expected return on plan assets	(7)	(8)	(23)	(24)	(1)	(1)	(3)	(3)
Amortization of actuarial loss	3	5	10	13	—	—	—	1
	$1	$2	$3	$6	$—	$—	$—	$1

	Defined Benefit Pension Plans				OPEB Plans
	Three Months		Nine Months		Three Months		Nine Months
WPL	2022	2021	2022	2021	2022	2021	2022	2021
Service cost	$—	$1	$2	$3	$—	$1	$—	$1
Interest cost	4	3	12	11	1	—	2	1
Expected return on plan assets	(7)	(8)	(23)	(23)	—	—	—	—
Amortization of actuarial loss	4	5	12	14	—	1	1	2
	$1	$1	$3	$5	$1	$2	$3	$4

Recognized Compensation Expense And Income Tax Benefits

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 Energy				IPL				WPL
	Three Months		Nine Months		Three Months		Nine Months		Three Months		Nine Months
	2022	2021	2022	2021	2022	2021	2022	2021	2022	2021	2022	2021
Compensation expense	$3	$4	$9	$9	$2	$2	$5	$5	$1	$2	$4	$4
Income tax benefits	1	1	3	3	—	—	1	1	—	—	1	1

Schedule Of Equity-based Compensation Plans Activity

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
	Grants	Grant Date Fair Value
Performance shares	74,106	$54.45
Performance restricted stock units	84,670	57.01
Restricted stock units	77,122	56.88

IPL [Member]

Defined Benefit Plan Disclosure [Line Items]

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 Plans				OPEB Plans
	Three Months		Nine Months		Three Months		Nine Months
Alliant Energy	2022	2021	2022	2021	2022	2021	2022	2021
Service cost	$3	$2	$7	$8	$—	$1	$2	$3
Interest cost	9	9	27	26	1	1	4	3
Expected return on plan assets	(18)	(17)	(52)	(51)	—	(1)	(3)	(3)
Amortization of prior service credit	—	(1)	—	(1)	—	—	—	—
Amortization of actuarial loss	8	10	24	29	1	1	2	3
	$2	$3	$6	$11	$2	$2	$5	$6

	Defined Benefit Pension Plans				OPEB Plans
	Three Months		Nine Months		Three Months		Nine Months
IPL	2022	2021	2022	2021	2022	2021	2022	2021
Service cost	$1	$1	$4	$5	$—	$—	$1	$1
Interest cost	4	4	12	12	1	1	2	2
Expected return on plan assets	(7)	(8)	(23)	(24)	(1)	(1)	(3)	(3)
Amortization of actuarial loss	3	5	10	13	—	—	—	1
	$1	$2	$3	$6	$—	$—	$—	$1

	Defined Benefit Pension Plans				OPEB Plans
	Three Months		Nine Months		Three Months		Nine Months
WPL	2022	2021	2022	2021	2022	2021	2022	2021
Service cost	$—	$1	$2	$3	$—	$1	$—	$1
Interest cost	4	3	12	11	1	—	2	1
Expected return on plan assets	(7)	(8)	(23)	(23)	—	—	—	—
Amortization of actuarial loss	4	5	12	14	—	1	1	2
	$1	$1	$3	$5	$1	$2	$3	$4

Recognized Compensation Expense And Income Tax Benefits

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 Energy				IPL				WPL
	Three Months		Nine Months		Three Months		Nine Months		Three Months		Nine Months
	2022	2021	2022	2021	2022	2021	2022	2021	2022	2021	2022	2021
Compensation expense	$3	$4	$9	$9	$2	$2	$5	$5	$1	$2	$4	$4
Income tax benefits	1	1	3	3	—	—	1	1	—	—	1	1

Schedule Of Equity-based Compensation Plans Activity

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
	Grants	Grant Date Fair Value
Performance shares	74,106	$54.45
Performance restricted stock units	84,670	57.01
Restricted stock units	77,122	56.88

WPL [Member]

Defined Benefit Plan Disclosure [Line Items]

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 Plans				OPEB Plans
	Three Months		Nine Months		Three Months		Nine Months
Alliant Energy	2022	2021	2022	2021	2022	2021	2022	2021
Service cost	$3	$2	$7	$8	$—	$1	$2	$3
Interest cost	9	9	27	26	1	1	4	3
Expected return on plan assets	(18)	(17)	(52)	(51)	—	(1)	(3)	(3)
Amortization of prior service credit	—	(1)	—	(1)	—	—	—	—
Amortization of actuarial loss	8	10	24	29	1	1	2	3
	$2	$3	$6	$11	$2	$2	$5	$6

	Defined Benefit Pension Plans				OPEB Plans
	Three Months		Nine Months		Three Months		Nine Months
IPL	2022	2021	2022	2021	2022	2021	2022	2021
Service cost	$1	$1	$4	$5	$—	$—	$1	$1
Interest cost	4	4	12	12	1	1	2	2
Expected return on plan assets	(7)	(8)	(23)	(24)	(1)	(1)	(3)	(3)
Amortization of actuarial loss	3	5	10	13	—	—	—	1
	$1	$2	$3	$6	$—	$—	$—	$1

	Defined Benefit Pension Plans				OPEB Plans
	Three Months		Nine Months		Three Months		Nine Months
WPL	2022	2021	2022	2021	2022	2021	2022	2021
Service cost	$—	$1	$2	$3	$—	$1	$—	$1
Interest cost	4	3	12	11	1	—	2	1
Expected return on plan assets	(7)	(8)	(23)	(23)	—	—	—	—
Amortization of actuarial loss	4	5	12	14	—	1	1	2
	$1	$1	$3	$5	$1	$2	$3	$4

Recognized Compensation Expense And Income Tax Benefits

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 Energy				IPL				WPL
	Three Months		Nine Months		Three Months		Nine Months		Three Months		Nine Months
	2022	2021	2022	2021	2022	2021	2022	2021	2022	2021	2022	2021
Compensation expense	$3	$4	$9	$9	$2	$2	$5	$5	$1	$2	$4	$4
Income tax benefits	1	1	3	3	—	—	1	1	—	—	1	1

Schedule Of Equity-based Compensation Plans Activity

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
	Grants	Grant Date Fair Value
Performance shares	74,106	$54.45
Performance restricted stock units	84,670	57.01
Restricted stock units	77,122	56.88

XML

Derivative Instruments (Tables)

9 Months Ended

Sep. 30, 2022

Derivative Instruments [Line Items]

Notional Amounts Of Derivative Instruments

As of September 30, 2022, gross notional amounts and settlement/delivery years related to outstanding swap contracts, option contracts, physical forward contracts and FTRs that were accounted for as commodity derivative instruments were as follows (units in thousands):

	Electricity		FTRs		Natural Gas		Coal		Diesel Fuel
	MWhs	Years	MWhs	Years	Dths	Years	Tons	Years	Gallons	Years
Alliant Energy	1,379	2022-2024	14,454	2022-2023	249,508	2022-2032	1,566	2022-2023	756	2022
IPL	768	2022-2024	6,165	2022-2023	135,193	2022-2030	669	2022-2023	—	—
WPL	611	2022-2023	8,289	2022-2023	114,315	2022-2032	897	2022-2023	756	2022

Fair Value Of Financial Instruments

Derivative instruments are recorded at fair value each reporting date on the balance sheets as assets or liabilities as follows (in millions):

	Alliant Energy		IPL		WPL
	September 30, 2022	December 31, 2021	September 30, 2022	December 31, 2021	September 30, 2022	December 31, 2021
Current derivative assets	$200	$113	$117	$48	$83	$65
Non-current derivative assets	160	63	85	36	75	27
Current derivative liabilities	71	8	54	4	17	4
Non-current derivative liabilities	27	1	12	—	15	1

Balance Sheet Offsetting

However, if the fair value amounts of derivative instruments by counterparty were netted, derivative assets and derivative liabilities related to commodity contracts would have been presented on the balance sheets as follows (in millions):

	Alliant Energy		IPL		WPL
	Gross		Gross		Gross
	(as reported)	Net	(as reported)	Net	(as reported)	Net
September 30, 2022
Derivative assets	$360	$308	$202	$165	$158	$143
Derivative liabilities	98	46	66	29	32	17
December 31, 2021
Derivative assets	176	171	84	83	92	88
Derivative liabilities	9	4	4	3	5	1

IPL [Member]

Derivative Instruments [Line Items]

Notional Amounts Of Derivative Instruments

As of September 30, 2022, gross notional amounts and settlement/delivery years related to outstanding swap contracts, option contracts, physical forward contracts and FTRs that were accounted for as commodity derivative instruments were as follows (units in thousands):

	Electricity		FTRs		Natural Gas		Coal		Diesel Fuel
	MWhs	Years	MWhs	Years	Dths	Years	Tons	Years	Gallons	Years
Alliant Energy	1,379	2022-2024	14,454	2022-2023	249,508	2022-2032	1,566	2022-2023	756	2022
IPL	768	2022-2024	6,165	2022-2023	135,193	2022-2030	669	2022-2023	—	—
WPL	611	2022-2023	8,289	2022-2023	114,315	2022-2032	897	2022-2023	756	2022

Fair Value Of Financial Instruments

Derivative instruments are recorded at fair value each reporting date on the balance sheets as assets or liabilities as follows (in millions):

	Alliant Energy		IPL		WPL
	September 30, 2022	December 31, 2021	September 30, 2022	December 31, 2021	September 30, 2022	December 31, 2021
Current derivative assets	$200	$113	$117	$48	$83	$65
Non-current derivative assets	160	63	85	36	75	27
Current derivative liabilities	71	8	54	4	17	4
Non-current derivative liabilities	27	1	12	—	15	1

Balance Sheet Offsetting

However, if the fair value amounts of derivative instruments by counterparty were netted, derivative assets and derivative liabilities related to commodity contracts would have been presented on the balance sheets as follows (in millions):

	Alliant Energy		IPL		WPL
	Gross		Gross		Gross
	(as reported)	Net	(as reported)	Net	(as reported)	Net
September 30, 2022
Derivative assets	$360	$308	$202	$165	$158	$143
Derivative liabilities	98	46	66	29	32	17
December 31, 2021
Derivative assets	176	171	84	83	92	88
Derivative liabilities	9	4	4	3	5	1

WPL [Member]

Derivative Instruments [Line Items]

Notional Amounts Of Derivative Instruments

As of September 30, 2022, gross notional amounts and settlement/delivery years related to outstanding swap contracts, option contracts, physical forward contracts and FTRs that were accounted for as commodity derivative instruments were as follows (units in thousands):

	Electricity		FTRs		Natural Gas		Coal		Diesel Fuel
	MWhs	Years	MWhs	Years	Dths	Years	Tons	Years	Gallons	Years
Alliant Energy	1,379	2022-2024	14,454	2022-2023	249,508	2022-2032	1,566	2022-2023	756	2022
IPL	768	2022-2024	6,165	2022-2023	135,193	2022-2030	669	2022-2023	—	—
WPL	611	2022-2023	8,289	2022-2023	114,315	2022-2032	897	2022-2023	756	2022

Fair Value Of Financial Instruments

Derivative instruments are recorded at fair value each reporting date on the balance sheets as assets or liabilities as follows (in millions):

	Alliant Energy		IPL		WPL
	September 30, 2022	December 31, 2021	September 30, 2022	December 31, 2021	September 30, 2022	December 31, 2021
Current derivative assets	$200	$113	$117	$48	$83	$65
Non-current derivative assets	160	63	85	36	75	27
Current derivative liabilities	71	8	54	4	17	4
Non-current derivative liabilities	27	1	12	—	15	1

Balance Sheet Offsetting

However, if the fair value amounts of derivative instruments by counterparty were netted, derivative assets and derivative liabilities related to commodity contracts would have been presented on the balance sheets as follows (in millions):

	Alliant Energy		IPL		WPL
	Gross		Gross		Gross
	(as reported)	Net	(as reported)	Net	(as reported)	Net
September 30, 2022
Derivative assets	$360	$308	$202	$165	$158	$143
Derivative liabilities	98	46	66	29	32	17
December 31, 2021
Derivative assets	176	171	84	83	92	88
Derivative liabilities	9	4	4	3	5	1

XML

Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2022

Statement [Line Items]

Fair Value Measurements

Carrying amounts and related estimated fair values of other financial instruments were as follows (in millions):

Alliant Energy	September 30, 2022					December 31, 2021
		Fair Value					Fair Value
	Carrying	Level	Level	Level		Carrying	Level	Level	Level
	Amount	1	2	3	Total	Amount	1	2	3	Total
Assets:
Money market fund investments	$334	$334	$—	$—	$334	$32	$32	$—	$—	$32
Derivatives	360	—	295	65	360	176	—	146	30	176
Deferred proceeds	248	—	—	248	248	214	—	—	214	214
Liabilities:
Derivatives	98	—	78	20	98	9	—	8	1	9
Long-term debt (incl. current maturities)	8,228	—	7,473	1	7,474	7,368	—	8,329	1	8,330

IPL	September 30, 2022					December 31, 2021
		Fair Value					Fair Value
	Carrying	Level	Level	Level		Carrying	Level	Level	Level
	Amount	1	2	3	Total	Amount	1	2	3	Total
Assets:
Money market fund investments	$39	$39	$—	$—	$39	$32	$32	$—	$—	$32
Derivatives	202	—	150	52	202	84	—	65	19	84
Deferred proceeds	248	—	—	248	248	214	—	—	214	214
Liabilities:
Derivatives	66	—	47	19	66	4	—	3	1	4
Long-term debt	3,645	—	3,228	—	3,228	3,643	—	4,124	—	4,124

WPL	September 30, 2022					December 31, 2021
		Fair Value					Fair Value
	Carrying	Level	Level	Level		Carrying	Level	Level	Level
	Amount	1	2	3	Total	Amount	1	2	3	Total
Assets:
Money market fund investments	$295	$295	$—	$—	$295	$—	$—	$—	$—	$—
Derivatives	158	—	145	13	158	92	—	81	11	92
Liabilities:
Derivatives	32	—	31	1	32	5	—	5	—	5
Long-term debt (incl. current maturities)	3,019	—	2,778	—	2,778	2,429	—	2,862	—	2,862

Fair Value Measurements Using Significant Unobservable Inputs

Information for fair value measurements using significant unobservable inputs (Level 3 inputs) was as follows (in millions):

Alliant Energy	Commodity Contract Derivative
	Assets and (Liabilities), net		Deferred Proceeds
Three Months Ended September 30	2022	2021	2022	2021
Beginning balance, July 1	$72	$39	$244	$154
Total net gains (losses) included in changes in net assets (realized/unrealized)	(1)	5	—	—
Transfers out of Level 3	—	(8)	—	—
Settlements (a)	(26)	(7)	4	10
Ending balance, September 30	$45	$29	$248	$164
The amount of total net gains (losses) for the period included in changes in net assets attributable to the change in unrealized gains (losses) relating to assets and liabilities held at September 30	($1)	$5	$—	$—

Alliant Energy	Commodity Contract Derivative
	Assets and (Liabilities), net		Deferred Proceeds
Nine Months Ended September 30	2022	2021	2022	2021
Beginning balance, January 1	$29	$29	$214	$188
Total net gains (losses) included in changes in net assets (realized/unrealized)	(17)	6	—	—
Transfers out of Level 3	—	(8)	—	—
Purchases	79	21	—	—
Settlements (a)	(46)	(19)	34	(24)
Ending balance, September 30	$45	$29	$248	$164
The amount of total net gains (losses) for the period included in changes in net assets attributable to the change in unrealized gains (losses) relating to assets and liabilities held at September 30	($17)	$6	$—	$—

IPL	Commodity Contract Derivative
	Assets and (Liabilities), net		Deferred Proceeds
Three Months Ended September 30	2022	2021	2022	2021
Beginning balance, July 1	$58	$30	$244	$154
Total net gains (losses) included in changes in net assets (realized/unrealized)	(6)	2	—	—
Transfers out of Level 3	—	(8)	—	—
Settlements (a)	(19)	(5)	4	10
Ending balance, September 30	$33	$19	$248	$164
The amount of total net gains (losses) for the period included in changes in net assets attributable to the change in unrealized gains (losses) relating to assets and liabilities held at September 30	($6)	$2	$—	$—

IPL	Commodity Contract Derivative
	Assets and (Liabilities), net		Deferred Proceeds
Nine Months Ended September 30	2022	2021	2022	2021
Beginning balance, January 1	$18	$26	$214	$188
Total net losses included in changes in net assets (realized/unrealized)	(13)	—	—	—
Transfers out of Level 3	—	(8)	—	—
Purchases	58	16	—	—
Settlements (a)	(30)	(15)	34	(24)
Ending balance, September 30	$33	$19	$248	$164
The amount of total net losses for the period included in changes in net assets attributable to the change in unrealized losses relating to assets and liabilities held at September 30	($14)	$—	$—	$—

WPL	Commodity Contract Derivative
	Assets and (Liabilities), net
Three Months Ended September 30	2022	2021
Beginning balance, July 1	$14	$9
Total net gains included in changes in net assets (realized/unrealized)	5	3
Settlements	(7)	(2)
Ending balance, September 30	$12	$10
The amount of total net gains for the period included in changes in net assets attributable to the change in unrealized gains relating to assets and liabilities held at September 30	$5	$3

WPL	Commodity Contract Derivative
	Assets and (Liabilities), net
Nine Months Ended September 30	2022	2021
Beginning balance, January 1	$11	$3
Total net gains (losses) included in changes in net assets (realized/unrealized)	(4)	6
Purchases	21	5
Settlements	(16)	(4)
Ending balance, September 30	$12	$10
The amount of total net gains (losses) for the period included in changes in net assets attributable to the change in unrealized gains (losses) relating to assets and liabilities held at September 30	($3)	$6

(a)Settlements related to deferred proceeds are due to the change in the carrying amount of receivables sold less the allowance for expected credit losses associated with the receivables sold and cash amounts received from the receivables sold.

Fair Value Of Net Derivative Assets (Liabilities)

The fair value of FTR and natural gas commodity contracts categorized as Level 3 was recognized as net derivative assets (liabilities) as follows (in millions):

	Alliant Energy		IPL		WPL
	Excluding FTRs	FTRs	Excluding FTRs	FTRs	Excluding FTRs	FTRs
September 30, 2022	($14)	$59	($15)	$48	$1	$11
December 31, 2021	9	20	8	10	1	10

IPL [Member]

Statement [Line Items]

Fair Value Measurements

Carrying amounts and related estimated fair values of other financial instruments were as follows (in millions):

Alliant Energy	September 30, 2022					December 31, 2021
		Fair Value					Fair Value
	Carrying	Level	Level	Level		Carrying	Level	Level	Level
	Amount	1	2	3	Total	Amount	1	2	3	Total
Assets:
Money market fund investments	$334	$334	$—	$—	$334	$32	$32	$—	$—	$32
Derivatives	360	—	295	65	360	176	—	146	30	176
Deferred proceeds	248	—	—	248	248	214	—	—	214	214
Liabilities:
Derivatives	98	—	78	20	98	9	—	8	1	9
Long-term debt (incl. current maturities)	8,228	—	7,473	1	7,474	7,368	—	8,329	1	8,330

IPL	September 30, 2022					December 31, 2021
		Fair Value					Fair Value
	Carrying	Level	Level	Level		Carrying	Level	Level	Level
	Amount	1	2	3	Total	Amount	1	2	3	Total
Assets:
Money market fund investments	$39	$39	$—	$—	$39	$32	$32	$—	$—	$32
Derivatives	202	—	150	52	202	84	—	65	19	84
Deferred proceeds	248	—	—	248	248	214	—	—	214	214
Liabilities:
Derivatives	66	—	47	19	66	4	—	3	1	4
Long-term debt	3,645	—	3,228	—	3,228	3,643	—	4,124	—	4,124

WPL	September 30, 2022					December 31, 2021
		Fair Value					Fair Value
	Carrying	Level	Level	Level		Carrying	Level	Level	Level
	Amount	1	2	3	Total	Amount	1	2	3	Total
Assets:
Money market fund investments	$295	$295	$—	$—	$295	$—	$—	$—	$—	$—
Derivatives	158	—	145	13	158	92	—	81	11	92
Liabilities:
Derivatives	32	—	31	1	32	5	—	5	—	5
Long-term debt (incl. current maturities)	3,019	—	2,778	—	2,778	2,429	—	2,862	—	2,862

Fair Value Measurements Using Significant Unobservable Inputs

Information for fair value measurements using significant unobservable inputs (Level 3 inputs) was as follows (in millions):

Alliant Energy	Commodity Contract Derivative
	Assets and (Liabilities), net		Deferred Proceeds
Three Months Ended September 30	2022	2021	2022	2021
Beginning balance, July 1	$72	$39	$244	$154
Total net gains (losses) included in changes in net assets (realized/unrealized)	(1)	5	—	—
Transfers out of Level 3	—	(8)	—	—
Settlements (a)	(26)	(7)	4	10
Ending balance, September 30	$45	$29	$248	$164
The amount of total net gains (losses) for the period included in changes in net assets attributable to the change in unrealized gains (losses) relating to assets and liabilities held at September 30	($1)	$5	$—	$—

Alliant Energy	Commodity Contract Derivative
	Assets and (Liabilities), net		Deferred Proceeds
Nine Months Ended September 30	2022	2021	2022	2021
Beginning balance, January 1	$29	$29	$214	$188
Total net gains (losses) included in changes in net assets (realized/unrealized)	(17)	6	—	—
Transfers out of Level 3	—	(8)	—	—
Purchases	79	21	—	—
Settlements (a)	(46)	(19)	34	(24)
Ending balance, September 30	$45	$29	$248	$164
The amount of total net gains (losses) for the period included in changes in net assets attributable to the change in unrealized gains (losses) relating to assets and liabilities held at September 30	($17)	$6	$—	$—

IPL	Commodity Contract Derivative
	Assets and (Liabilities), net		Deferred Proceeds
Three Months Ended September 30	2022	2021	2022	2021
Beginning balance, July 1	$58	$30	$244	$154
Total net gains (losses) included in changes in net assets (realized/unrealized)	(6)	2	—	—
Transfers out of Level 3	—	(8)	—	—
Settlements (a)	(19)	(5)	4	10
Ending balance, September 30	$33	$19	$248	$164
The amount of total net gains (losses) for the period included in changes in net assets attributable to the change in unrealized gains (losses) relating to assets and liabilities held at September 30	($6)	$2	$—	$—

IPL	Commodity Contract Derivative
	Assets and (Liabilities), net		Deferred Proceeds
Nine Months Ended September 30	2022	2021	2022	2021
Beginning balance, January 1	$18	$26	$214	$188
Total net losses included in changes in net assets (realized/unrealized)	(13)	—	—	—
Transfers out of Level 3	—	(8)	—	—
Purchases	58	16	—	—
Settlements (a)	(30)	(15)	34	(24)
Ending balance, September 30	$33	$19	$248	$164
The amount of total net losses for the period included in changes in net assets attributable to the change in unrealized losses relating to assets and liabilities held at September 30	($14)	$—	$—	$—

WPL	Commodity Contract Derivative
	Assets and (Liabilities), net
Three Months Ended September 30	2022	2021
Beginning balance, July 1	$14	$9
Total net gains included in changes in net assets (realized/unrealized)	5	3
Settlements	(7)	(2)
Ending balance, September 30	$12	$10
The amount of total net gains for the period included in changes in net assets attributable to the change in unrealized gains relating to assets and liabilities held at September 30	$5	$3

WPL	Commodity Contract Derivative
	Assets and (Liabilities), net
Nine Months Ended September 30	2022	2021
Beginning balance, January 1	$11	$3
Total net gains (losses) included in changes in net assets (realized/unrealized)	(4)	6
Purchases	21	5
Settlements	(16)	(4)
Ending balance, September 30	$12	$10
The amount of total net gains (losses) for the period included in changes in net assets attributable to the change in unrealized gains (losses) relating to assets and liabilities held at September 30	($3)	$6

(a)Settlements related to deferred proceeds are due to the change in the carrying amount of receivables sold less the allowance for expected credit losses associated with the receivables sold and cash amounts received from the receivables sold.

Fair Value Of Net Derivative Assets (Liabilities)

The fair value of FTR and natural gas commodity contracts categorized as Level 3 was recognized as net derivative assets (liabilities) as follows (in millions):

	Alliant Energy		IPL		WPL
	Excluding FTRs	FTRs	Excluding FTRs	FTRs	Excluding FTRs	FTRs
September 30, 2022	($14)	$59	($15)	$48	$1	$11
December 31, 2021	9	20	8	10	1	10

WPL [Member]

Statement [Line Items]

Fair Value Measurements

Carrying amounts and related estimated fair values of other financial instruments were as follows (in millions):

Alliant Energy	September 30, 2022					December 31, 2021
		Fair Value					Fair Value
	Carrying	Level	Level	Level		Carrying	Level	Level	Level
	Amount	1	2	3	Total	Amount	1	2	3	Total
Assets:
Money market fund investments	$334	$334	$—	$—	$334	$32	$32	$—	$—	$32
Derivatives	360	—	295	65	360	176	—	146	30	176
Deferred proceeds	248	—	—	248	248	214	—	—	214	214
Liabilities:
Derivatives	98	—	78	20	98	9	—	8	1	9
Long-term debt (incl. current maturities)	8,228	—	7,473	1	7,474	7,368	—	8,329	1	8,330

IPL	September 30, 2022					December 31, 2021
		Fair Value					Fair Value
	Carrying	Level	Level	Level		Carrying	Level	Level	Level
	Amount	1	2	3	Total	Amount	1	2	3	Total
Assets:
Money market fund investments	$39	$39	$—	$—	$39	$32	$32	$—	$—	$32
Derivatives	202	—	150	52	202	84	—	65	19	84
Deferred proceeds	248	—	—	248	248	214	—	—	214	214
Liabilities:
Derivatives	66	—	47	19	66	4	—	3	1	4
Long-term debt	3,645	—	3,228	—	3,228	3,643	—	4,124	—	4,124

WPL	September 30, 2022					December 31, 2021
		Fair Value					Fair Value
	Carrying	Level	Level	Level		Carrying	Level	Level	Level
	Amount	1	2	3	Total	Amount	1	2	3	Total
Assets:
Money market fund investments	$295	$295	$—	$—	$295	$—	$—	$—	$—	$—
Derivatives	158	—	145	13	158	92	—	81	11	92
Liabilities:
Derivatives	32	—	31	1	32	5	—	5	—	5
Long-term debt (incl. current maturities)	3,019	—	2,778	—	2,778	2,429	—	2,862	—	2,862

Fair Value Measurements Using Significant Unobservable Inputs

Information for fair value measurements using significant unobservable inputs (Level 3 inputs) was as follows (in millions):

Alliant Energy	Commodity Contract Derivative
	Assets and (Liabilities), net		Deferred Proceeds
Three Months Ended September 30	2022	2021	2022	2021
Beginning balance, July 1	$72	$39	$244	$154
Total net gains (losses) included in changes in net assets (realized/unrealized)	(1)	5	—	—
Transfers out of Level 3	—	(8)	—	—
Settlements (a)	(26)	(7)	4	10
Ending balance, September 30	$45	$29	$248	$164
The amount of total net gains (losses) for the period included in changes in net assets attributable to the change in unrealized gains (losses) relating to assets and liabilities held at September 30	($1)	$5	$—	$—

Alliant Energy	Commodity Contract Derivative
	Assets and (Liabilities), net		Deferred Proceeds
Nine Months Ended September 30	2022	2021	2022	2021
Beginning balance, January 1	$29	$29	$214	$188
Total net gains (losses) included in changes in net assets (realized/unrealized)	(17)	6	—	—
Transfers out of Level 3	—	(8)	—	—
Purchases	79	21	—	—
Settlements (a)	(46)	(19)	34	(24)
Ending balance, September 30	$45	$29	$248	$164
The amount of total net gains (losses) for the period included in changes in net assets attributable to the change in unrealized gains (losses) relating to assets and liabilities held at September 30	($17)	$6	$—	$—

IPL	Commodity Contract Derivative
	Assets and (Liabilities), net		Deferred Proceeds
Three Months Ended September 30	2022	2021	2022	2021
Beginning balance, July 1	$58	$30	$244	$154
Total net gains (losses) included in changes in net assets (realized/unrealized)	(6)	2	—	—
Transfers out of Level 3	—	(8)	—	—
Settlements (a)	(19)	(5)	4	10
Ending balance, September 30	$33	$19	$248	$164
The amount of total net gains (losses) for the period included in changes in net assets attributable to the change in unrealized gains (losses) relating to assets and liabilities held at September 30	($6)	$2	$—	$—

IPL	Commodity Contract Derivative
	Assets and (Liabilities), net		Deferred Proceeds
Nine Months Ended September 30	2022	2021	2022	2021
Beginning balance, January 1	$18	$26	$214	$188
Total net losses included in changes in net assets (realized/unrealized)	(13)	—	—	—
Transfers out of Level 3	—	(8)	—	—
Purchases	58	16	—	—
Settlements (a)	(30)	(15)	34	(24)
Ending balance, September 30	$33	$19	$248	$164
The amount of total net losses for the period included in changes in net assets attributable to the change in unrealized losses relating to assets and liabilities held at September 30	($14)	$—	$—	$—

WPL	Commodity Contract Derivative
	Assets and (Liabilities), net
Three Months Ended September 30	2022	2021
Beginning balance, July 1	$14	$9
Total net gains included in changes in net assets (realized/unrealized)	5	3
Settlements	(7)	(2)
Ending balance, September 30	$12	$10
The amount of total net gains for the period included in changes in net assets attributable to the change in unrealized gains relating to assets and liabilities held at September 30	$5	$3

WPL	Commodity Contract Derivative
	Assets and (Liabilities), net
Nine Months Ended September 30	2022	2021
Beginning balance, January 1	$11	$3
Total net gains (losses) included in changes in net assets (realized/unrealized)	(4)	6
Purchases	21	5
Settlements	(16)	(4)
Ending balance, September 30	$12	$10
The amount of total net gains (losses) for the period included in changes in net assets attributable to the change in unrealized gains (losses) relating to assets and liabilities held at September 30	($3)	$6

(a)Settlements related to deferred proceeds are due to the change in the carrying amount of receivables sold less the allowance for expected credit losses associated with the receivables sold and cash amounts received from the receivables sold.

Fair Value Of Net Derivative Assets (Liabilities)

The fair value of FTR and natural gas commodity contracts categorized as Level 3 was recognized as net derivative assets (liabilities) as follows (in millions):

	Alliant Energy		IPL		WPL
	Excluding FTRs	FTRs	Excluding FTRs	FTRs	Excluding FTRs	FTRs
September 30, 2022	($14)	$59	($15)	$48	$1	$11
December 31, 2021	9	20	8	10	1	10

XML

Commitments And Contingencies (Tables)

9 Months Ended

Sep. 30, 2022

Commitments and Contingencies [Line Items]

Other Purchase Commitments

At September 30, 2022, related minimum future commitments were as follows (in millions):

	Alliant Energy	IPL	WPL
Natural gas	$1,608	$742	$866
Coal	197	95	102
Other (a)	126	57	28
	$1,931	$894	$996

(a)Includes individual commitments incurred during the normal course of business that exceeded $1 million at September 30, 2022.

MGP Site Estimated Future Costs And Recorded Liabilities

At September 30, 2022, estimated future costs expected to be incurred for the investigation, remediation and monitoring of the MGP sites, as well as environmental liabilities recorded on the balance sheets for these sites, which are not discounted, were as follows (in millions). At September 30, 2022, such amounts for WPL were not material.

	Alliant Energy			IPL
Range of estimated future costs	$9	-	$25	$6	-	$19
Current and non-current environmental liabilities	$12			$8

IPL [Member]

Commitments and Contingencies [Line Items]

Other Purchase Commitments

At September 30, 2022, related minimum future commitments were as follows (in millions):

	Alliant Energy	IPL	WPL
Natural gas	$1,608	$742	$866
Coal	197	95	102
Other (a)	126	57	28
	$1,931	$894	$996

(a)Includes individual commitments incurred during the normal course of business that exceeded $1 million at September 30, 2022.

MGP Site Estimated Future Costs And Recorded Liabilities

At September 30, 2022, estimated future costs expected to be incurred for the investigation, remediation and monitoring of the MGP sites, as well as environmental liabilities recorded on the balance sheets for these sites, which are not discounted, were as follows (in millions). At September 30, 2022, such amounts for WPL were not material.

	Alliant Energy			IPL
Range of estimated future costs	$9	-	$25	$6	-	$19
Current and non-current environmental liabilities	$12			$8

WPL [Member]

Commitments and Contingencies [Line Items]

Other Purchase Commitments

At September 30, 2022, related minimum future commitments were as follows (in millions):

	Alliant Energy	IPL	WPL
Natural gas	$1,608	$742	$866
Coal	197	95	102
Other (a)	126	57	28
	$1,931	$894	$996

(a)Includes individual commitments incurred during the normal course of business that exceeded $1 million at September 30, 2022.

XML

Segments Of Business (Tables)

9 Months Ended

Sep. 30, 2022

Segment Reporting Information [Line Items]

Schedule Of Segments Of Business

Certain financial information relating to Alliant Energy’s, IPL’s and WPL’s business segments is as follows. Intersegment revenues were not material to their respective operations.

Alliant Energy					ATC Holdings,	Alliant
	Utility				Non-Utility,	Energy
	Electric	Gas	Other	Total	Parent and Other	Consolidated
	(in millions)
Three Months Ended September 30, 2022
Revenues	$1,039	$62	$11	$1,112	$23	$1,135
Operating income (loss)	304	(3)	1	302	7	309
Net income (loss) attributable to Alliant Energy common shareowners				245	(18)	227
Three Months Ended September 30, 2021
Revenues	$939	$50	$13	$1,002	$22	$1,024
Operating income (loss)	290	(5)	(5)	280	9	289
Net income attributable to Alliant Energy common shareowners				250	6	256

Alliant Energy					ATC Holdings,	Alliant
	Utility				Non-Utility,	Energy
	Electric	Gas	Other	Total	Parent and Other	Consolidated
	(in millions)
Nine Months Ended September 30, 2022
Revenues	$2,624	$418	$35	$3,077	$70	$3,147
Operating income	680	62	4	746	23	769
Net income attributable to Alliant Energy common shareowners				574	5	579
Nine Months Ended September 30, 2021
Revenues	$2,357	$289	$36	$2,682	$60	$2,742
Operating income (loss)	601	42	(4)	639	24	663
Net income attributable to Alliant Energy common shareowners				537	34	571

IPL	Electric	Gas	Other	Total
	(in millions)
Three Months Ended September 30, 2022
Revenues	$596	$33	$11	$640
Operating income (loss)	174	(3)	—	171
Net income available for common stock				154
Three Months Ended September 30, 2021
Revenues	$555	$31	$13	$599
Operating income (loss)	186	(3)	(3)	180
Net income available for common stock				157
Nine Months Ended September 30, 2022
Revenues	$1,438	$224	$34	$1,696
Operating income	353	33	3	389
Net income available for common stock				327
Nine Months Ended September 30, 2021
Revenues	$1,343	$165	$35	$1,543
Operating income (loss)	365	30	(1)	394
Net income available for common stock				322

WPL	Electric	Gas	Other	Total
	(in millions)
Three Months Ended September 30, 2022
Revenues	$443	$29	$—	$472
Operating income	130	—	1	131
Net income				91
Three Months Ended September 30, 2021
Revenues	$384	$19	$—	$403
Operating income (loss)	104	(2)	(2)	100
Net income				93
Nine Months Ended September 30, 2022
Revenues	$1,186	$194	$1	$1,381
Operating income	327	29	1	357
Net income				247
Nine Months Ended September 30, 2021
Revenues	$1,014	$124	$1	$1,139
Operating income (loss)	236	12	(3)	245
Net income				215

IPL [Member]

Segment Reporting Information [Line Items]

Schedule Of Segments Of Business

Certain financial information relating to Alliant Energy’s, IPL’s and WPL’s business segments is as follows. Intersegment revenues were not material to their respective operations.

Alliant Energy					ATC Holdings,	Alliant
	Utility				Non-Utility,	Energy
	Electric	Gas	Other	Total	Parent and Other	Consolidated
	(in millions)
Three Months Ended September 30, 2022
Revenues	$1,039	$62	$11	$1,112	$23	$1,135
Operating income (loss)	304	(3)	1	302	7	309
Net income (loss) attributable to Alliant Energy common shareowners				245	(18)	227
Three Months Ended September 30, 2021
Revenues	$939	$50	$13	$1,002	$22	$1,024
Operating income (loss)	290	(5)	(5)	280	9	289
Net income attributable to Alliant Energy common shareowners				250	6	256

Alliant Energy					ATC Holdings,	Alliant
	Utility				Non-Utility,	Energy
	Electric	Gas	Other	Total	Parent and Other	Consolidated
	(in millions)
Nine Months Ended September 30, 2022
Revenues	$2,624	$418	$35	$3,077	$70	$3,147
Operating income	680	62	4	746	23	769
Net income attributable to Alliant Energy common shareowners				574	5	579
Nine Months Ended September 30, 2021
Revenues	$2,357	$289	$36	$2,682	$60	$2,742
Operating income (loss)	601	42	(4)	639	24	663
Net income attributable to Alliant Energy common shareowners				537	34	571

IPL	Electric	Gas	Other	Total
	(in millions)
Three Months Ended September 30, 2022
Revenues	$596	$33	$11	$640
Operating income (loss)	174	(3)	—	171
Net income available for common stock				154
Three Months Ended September 30, 2021
Revenues	$555	$31	$13	$599
Operating income (loss)	186	(3)	(3)	180
Net income available for common stock				157
Nine Months Ended September 30, 2022
Revenues	$1,438	$224	$34	$1,696
Operating income	353	33	3	389
Net income available for common stock				327
Nine Months Ended September 30, 2021
Revenues	$1,343	$165	$35	$1,543
Operating income (loss)	365	30	(1)	394
Net income available for common stock				322

WPL	Electric	Gas	Other	Total
	(in millions)
Three Months Ended September 30, 2022
Revenues	$443	$29	$—	$472
Operating income	130	—	1	131
Net income				91
Three Months Ended September 30, 2021
Revenues	$384	$19	$—	$403
Operating income (loss)	104	(2)	(2)	100
Net income				93
Nine Months Ended September 30, 2022
Revenues	$1,186	$194	$1	$1,381
Operating income	327	29	1	357
Net income				247
Nine Months Ended September 30, 2021
Revenues	$1,014	$124	$1	$1,139
Operating income (loss)	236	12	(3)	245
Net income				215

WPL [Member]

Segment Reporting Information [Line Items]

Schedule Of Segments Of Business

Certain financial information relating to Alliant Energy’s, IPL’s and WPL’s business segments is as follows. Intersegment revenues were not material to their respective operations.

Alliant Energy					ATC Holdings,	Alliant
	Utility				Non-Utility,	Energy
	Electric	Gas	Other	Total	Parent and Other	Consolidated
	(in millions)
Three Months Ended September 30, 2022
Revenues	$1,039	$62	$11	$1,112	$23	$1,135
Operating income (loss)	304	(3)	1	302	7	309
Net income (loss) attributable to Alliant Energy common shareowners				245	(18)	227
Three Months Ended September 30, 2021
Revenues	$939	$50	$13	$1,002	$22	$1,024
Operating income (loss)	290	(5)	(5)	280	9	289
Net income attributable to Alliant Energy common shareowners				250	6	256

Alliant Energy					ATC Holdings,	Alliant
	Utility				Non-Utility,	Energy
	Electric	Gas	Other	Total	Parent and Other	Consolidated
	(in millions)
Nine Months Ended September 30, 2022
Revenues	$2,624	$418	$35	$3,077	$70	$3,147
Operating income	680	62	4	746	23	769
Net income attributable to Alliant Energy common shareowners				574	5	579
Nine Months Ended September 30, 2021
Revenues	$2,357	$289	$36	$2,682	$60	$2,742
Operating income (loss)	601	42	(4)	639	24	663
Net income attributable to Alliant Energy common shareowners				537	34	571

IPL	Electric	Gas	Other	Total
	(in millions)
Three Months Ended September 30, 2022
Revenues	$596	$33	$11	$640
Operating income (loss)	174	(3)	—	171
Net income available for common stock				154
Three Months Ended September 30, 2021
Revenues	$555	$31	$13	$599
Operating income (loss)	186	(3)	(3)	180
Net income available for common stock				157
Nine Months Ended September 30, 2022
Revenues	$1,438	$224	$34	$1,696
Operating income	353	33	3	389
Net income available for common stock				327
Nine Months Ended September 30, 2021
Revenues	$1,343	$165	$35	$1,543
Operating income (loss)	365	30	(1)	394
Net income available for common stock				322

WPL	Electric	Gas	Other	Total
	(in millions)
Three Months Ended September 30, 2022
Revenues	$443	$29	$—	$472
Operating income	130	—	1	131
Net income				91
Three Months Ended September 30, 2021
Revenues	$384	$19	$—	$403
Operating income (loss)	104	(2)	(2)	100
Net income				93
Nine Months Ended September 30, 2022
Revenues	$1,186	$194	$1	$1,381
Operating income	327	29	1	357
Net income				247
Nine Months Ended September 30, 2021
Revenues	$1,014	$124	$1	$1,139
Operating income (loss)	236	12	(3)	245
Net income				215

XML

Related Parties (Tables)

9 Months Ended

Sep. 30, 2022

Related Party Transactions [Line Items]

Services Provided, Sales Credited And Purchases

The amounts billed for services provided, sales credited and purchases for the three and nine months ended September 30 were as follows (in millions):

	IPL				WPL
	Three Months		Nine Months		Three Months		Nine Months
	2022	2021	2022	2021	2022	2021	2022	2021
Corporate Services billings	$45	$50	$136	$138	$39	$37	$117	$113
Sales credited	11	4	11	9	31	16	62	23
Purchases billed	119	105	342	347	42	24	103	71

Net Intercompany Payables

Net intercompany payables to Corporate Services were as follows (in millions):

	IPL		WPL
	September 30, 2022	December 31, 2021	September 30, 2022	December 31, 2021
Net payables to Corporate Services	$113	$110	$88	$83

Related Amounts Billed Between Parties

The related amounts billed between the parties for the three and nine months ended September 30 were as follows (in millions):

	Three Months		Nine Months
	2022	2021	2022	2021
ATC billings to WPL	$38	$29	$107	$91
WPL billings to ATC	6	4	14	13

IPL [Member]

Related Party Transactions [Line Items]

Services Provided, Sales Credited And Purchases

The amounts billed for services provided, sales credited and purchases for the three and nine months ended September 30 were as follows (in millions):

	IPL				WPL
	Three Months		Nine Months		Three Months		Nine Months
	2022	2021	2022	2021	2022	2021	2022	2021
Corporate Services billings	$45	$50	$136	$138	$39	$37	$117	$113
Sales credited	11	4	11	9	31	16	62	23
Purchases billed	119	105	342	347	42	24	103	71

Net Intercompany Payables

Net intercompany payables to Corporate Services were as follows (in millions):

	IPL		WPL
	September 30, 2022	December 31, 2021	September 30, 2022	December 31, 2021
Net payables to Corporate Services	$113	$110	$88	$83

WPL [Member]

Related Party Transactions [Line Items]

Services Provided, Sales Credited And Purchases

The amounts billed for services provided, sales credited and purchases for the three and nine months ended September 30 were as follows (in millions):

	IPL				WPL
	Three Months		Nine Months		Three Months		Nine Months
	2022	2021	2022	2021	2022	2021	2022	2021
Corporate Services billings	$45	$50	$136	$138	$39	$37	$117	$113
Sales credited	11	4	11	9	31	16	62	23
Purchases billed	119	105	342	347	42	24	103	71

Net Intercompany Payables

Net intercompany payables to Corporate Services were as follows (in millions):

	IPL		WPL
	September 30, 2022	December 31, 2021	September 30, 2022	December 31, 2021
Net payables to Corporate Services	$113	$110	$88	$83

Related Amounts Billed Between Parties

The related amounts billed between the parties for the three and nine months ended September 30 were as follows (in millions):

	Three Months		Nine Months
	2022	2021	2022	2021
ATC billings to WPL	$38	$29	$107	$91
WPL billings to ATC	6	4	14	13

XML

Summary Of Significant Accounting Policies (Narrative) (Details) $ in Millions	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2022 USD ($)	Jun. 30, 2022 USD ($)	Sep. 30, 2022 USD ($)	Sep. 30, 2021 USD ($)	Dec. 31, 2024 MW	Dec. 31, 2021 USD ($)
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Money market fund investments	$ 334		$ 334			$ 32
Money market fund investments interest rate, percentage	3.00%		3.00%
Distributions to noncontrolling interest			$ 29	$ 0
IPL [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Money market fund investments	$ 39		$ 39			32
Money market fund investments interest rate, percentage	3.00%		3.00%
WPL [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Money market fund investments	$ 295		$ 295			$ 0
Money market fund investments interest rate, percentage	3.00%		3.00%
WPL's cash contribution		$ 62
Tax equity partner's cash contribution		29
Contributed funds paid to WPL for equity interests		$ 88
Distributions to noncontrolling interest	$ 29		$ 29	$ 0
WPL [Member] | Solar [Member] | Forecast [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Nameplate capacity (in MW) | MW					1,100

XML

Regulatory Matters (Narrative) (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Regulatory Matters [Line Items]
Regulatory assets	$ 2,041	$ 1,940
IPL [Member]
Regulatory Matters [Line Items]
Regulatory assets	1,423	1,443
WPL [Member]
Regulatory Matters [Line Items]
Regulatory assets	618	$ 497
Deferred Fuel Costs | WPL [Member]
Regulatory Matters [Line Items]
Regulatory assets	$ 83

XML

Regulatory Matters (Regulatory Assets) (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Regulatory Assets [Line Items]
Regulatory assets	$ 2,041	$ 1,940
Tax-related [Member]
Regulatory Assets [Line Items]
Regulatory assets	913	934
Pension and OPEB costs [Member]
Regulatory Assets [Line Items]
Regulatory assets	436	462
Asset retirement obligations [Member]
Regulatory Assets [Line Items]
Regulatory assets	145	128
Commodity cost recovery [Member]
Regulatory Assets [Line Items]
Regulatory assets	129	42
Derivatives [Member]
Regulatory Assets [Line Items]
Regulatory assets	102	8
Assets retired early [Member]
Regulatory Assets [Line Items]
Regulatory assets	75	92
IPL's DAEC PPA amendment [Member]
Regulatory Assets [Line Items]
Regulatory assets	72	90
WPL's Western Wisconsin gas distribution expansion investments [Member]
Regulatory Assets [Line Items]
Regulatory assets	49	52
Other [Member]
Regulatory Assets [Line Items]
Regulatory assets	120	132
IPL [Member]
Regulatory Assets [Line Items]
Regulatory assets	1,423	1,443
IPL [Member] | Tax-related [Member]
Regulatory Assets [Line Items]
Regulatory assets	842	884
IPL [Member] | Pension and OPEB costs [Member]
Regulatory Assets [Line Items]
Regulatory assets	216	228
IPL [Member] | Asset retirement obligations [Member]
Regulatory Assets [Line Items]
Regulatory assets	104	89
IPL [Member] | Commodity cost recovery [Member]
Regulatory Assets [Line Items]
Regulatory assets	2	2
IPL [Member] | Derivatives [Member]
Regulatory Assets [Line Items]
Regulatory assets	67	4
IPL [Member] | Assets retired early [Member]
Regulatory Assets [Line Items]
Regulatory assets	56	66
IPL [Member] | IPL's DAEC PPA amendment [Member]
Regulatory Assets [Line Items]
Regulatory assets	72	90
IPL [Member] | Other [Member]
Regulatory Assets [Line Items]
Regulatory assets	64	80
WPL [Member]
Regulatory Assets [Line Items]
Regulatory assets	618	497
WPL [Member] | Tax-related [Member]
Regulatory Assets [Line Items]
Regulatory assets	71	50
WPL [Member] | Pension and OPEB costs [Member]
Regulatory Assets [Line Items]
Regulatory assets	220	234
WPL [Member] | Asset retirement obligations [Member]
Regulatory Assets [Line Items]
Regulatory assets	41	39
WPL [Member] | Commodity cost recovery [Member]
Regulatory Assets [Line Items]
Regulatory assets	127	40
WPL [Member] | Derivatives [Member]
Regulatory Assets [Line Items]
Regulatory assets	35	4
WPL [Member] | Assets retired early [Member]
Regulatory Assets [Line Items]
Regulatory assets	19	26
WPL [Member] | WPL's Western Wisconsin gas distribution expansion investments [Member]
Regulatory Assets [Line Items]
Regulatory assets	49	52
WPL [Member] | Other [Member]
Regulatory Assets [Line Items]
Regulatory assets	$ 56	$ 52

XML

Regulatory Matters (Regulatory Liabilities) (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Regulatory Liabilities [Line Items]
Regulatory liabilities	$ 1,387	$ 1,271
Tax-related [Member]
Regulatory Liabilities [Line Items]
Regulatory liabilities	582	585
Cost of removal obligations [Member]
Regulatory Liabilities [Line Items]
Regulatory liabilities	398	384
Derivatives [Member]
Regulatory Liabilities [Line Items]
Regulatory liabilities	312	166
WPL's West Riverside liquidated damages [Member]
Regulatory Liabilities [Line Items]
Regulatory liabilities	33	36
Electric transmission cost recovery [Member]
Regulatory Liabilities [Line Items]
Regulatory liabilities	16	51
Other [Member]
Regulatory Liabilities [Line Items]
Regulatory liabilities	46	49
IPL [Member]
Regulatory Liabilities [Line Items]
Regulatory liabilities	761	691
IPL [Member] | Tax-related [Member]
Regulatory Liabilities [Line Items]
Regulatory liabilities	304	312
IPL [Member] | Cost of removal obligations [Member]
Regulatory Liabilities [Line Items]
Regulatory liabilities	258	252
IPL [Member] | Derivatives [Member]
Regulatory Liabilities [Line Items]
Regulatory liabilities	164	77
IPL [Member] | Electric transmission cost recovery [Member]
Regulatory Liabilities [Line Items]
Regulatory liabilities	4	27
IPL [Member] | Other [Member]
Regulatory Liabilities [Line Items]
Regulatory liabilities	31	23
WPL [Member]
Regulatory Liabilities [Line Items]
Regulatory liabilities	626	580
WPL [Member] | Tax-related [Member]
Regulatory Liabilities [Line Items]
Regulatory liabilities	278	273
WPL [Member] | Cost of removal obligations [Member]
Regulatory Liabilities [Line Items]
Regulatory liabilities	140	132
WPL [Member] | Derivatives [Member]
Regulatory Liabilities [Line Items]
Regulatory liabilities	148	89
WPL [Member] | WPL's West Riverside liquidated damages [Member]
Regulatory Liabilities [Line Items]
Regulatory liabilities	33	36
WPL [Member] | Electric transmission cost recovery [Member]
Regulatory Liabilities [Line Items]
Regulatory liabilities	12	24
WPL [Member] | Other [Member]
Regulatory Liabilities [Line Items]
Regulatory liabilities	$ 15	$ 26

XML

Property, Plant and Equipment (Narrative) (Details)	9 Months Ended
	Sep. 30, 2022 MW
Edgewater Generating Station | WPL [Member]
Property, Plant and Equipment [Line Items]
Nameplate capacity (in MW)	414
Columbia Energy Center | WPL [Member]
Property, Plant and Equipment [Line Items]
Nameplate capacity (in MW)	595
Lansing Generating Station | IPL [Member]
Property, Plant and Equipment [Line Items]
Nameplate capacity (in MW)	275

XML

Receivables (Narrative) (Details) - Receivables Sold [Member] - IPL [Member] $ in Millions	Sep. 30, 2022 USD ($)
Receivables [Line Items]
Available capacity	$ 109
Financial Asset, Past Due [Member]
Receivables [Line Items]
Outstanding receivables past due	$ 20

XML

Receivables (Maximum And Average Outstanding Cash Proceeds) (Details) - IPL [Member] - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Maximum [Member]
Receivables [Line Items]
Maximum outstanding aggregate cash proceeds (based on daily outstanding balances)	$ 36	$ 110	$ 66	$ 110
Average [Member]
Receivables [Line Items]
Average outstanding aggregate cash proceeds (based on daily outstanding balances)	$ 3	$ 65	$ 8	$ 52

XML

Receivables (Receivables Sold Under The Agreement) (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Receivables [Line Items]
Fair value of deferred proceeds	$ 248	$ 214
IPL [Member]
Receivables [Line Items]
Fair value of deferred proceeds	248	214
Receivables Sold [Member] | IPL [Member]
Receivables [Line Items]
Customer accounts receivable	169	125
Unbilled utility revenues	92	104
Receivables sold to third party	261	229
Less: cash proceeds	1	1
Deferred proceeds	260	228
Less: allowance for expected credit losses	12	14
Fair value of deferred proceeds	$ 248	$ 214

XML

Receivables (Additional Attributes Of Receivables Sold Under The Agreement) (Details) - IPL [Member] - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Receivables [Line Items]
Collections	$ 670	$ 607	$ 1,731	$ 1,589
Write-offs, net of recoveries	$ 3	$ 4	$ 6	$ 7

XML

Investments (Unconsolidated Equity Investments) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Schedule of Equity Method Investments [Line Items]
Equity (income) loss from unconsolidated investments, net	$ (5)	$ (13)	$ (37)	$ (47)
ATC Holdings [Member]
Schedule of Equity Method Investments [Line Items]
Equity (income) loss from unconsolidated investments, net	(7)	(12)	(29)	(34)
Other [Member]
Schedule of Equity Method Investments [Line Items]
Equity (income) loss from unconsolidated investments, net	2	(1)	(8)	(13)
Total [Member]
Schedule of Equity Method Investments [Line Items]
Equity (income) loss from unconsolidated investments, net	$ (5)	$ (13)	$ (37)	$ (47)

XML

Common Equity (Common Share Activity) (Details)	9 Months Ended
	Sep. 30, 2022 shares
Common Stock Oustanding [Roll Forward]
Shares outstanding, January 1, 2022 (in shares)	250,474,529
Shareowner Direct Plan (in shares)	324,533
Equity-based compensation plans (in shares)	222,768
Shares outstanding, September 30, 2022 (in shares)	251,021,830

XML

Common Equity (Changes in Shareowners' Equity) (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Changes in Shareowners' Equity Roll Forward [Line Items]
Beginning balance			$ 5,990
Beginning balance	$ 6,166	$ 6,019	5,990	$ 5,888
Net income attributable to common shareowners	227	256	579	571
Net income	227	259	579	579
Common stock dividends	(106)	(101)	(322)	(304)
Shareowner Direct Plan issuances	6	6	19	22
Equity-based compensation plans and other	1	5	(1)	8
Contributions from noncontrolling interest			29
Distributions to noncontrolling interest	(29)		(29)
Ending balance	6,265		6,265
Ending balance	$ 6,265	$ 6,185	$ 6,265	$ 6,185
Common stock dividends (in dollars per share)	$ 0.4275	$ 0.4025	$ 1.2825	$ 1.2075
Common Stock [Member]
Changes in Shareowners' Equity Roll Forward [Line Items]
Beginning balance	$ 3	$ 3	$ 3	$ 2
Shareowner Direct Plan issuances				1
Ending balance	3	3	3	3
Additional Paid-in Capital [Member]
Changes in Shareowners' Equity Roll Forward [Line Items]
Beginning balance	2,759	2,722	2,749	2,704
Shareowner Direct Plan issuances	6	6	19	21
Equity-based compensation plans and other	2	5	(1)	8
Ending balance	2,767	2,733	2,767	2,733
Retained Earnings [Member]
Changes in Shareowners' Equity Roll Forward [Line Items]
Beginning balance	3,387	3,106	3,250	2,994
Net income attributable to common shareowners	227	256	579	571
Common stock dividends	(106)	(101)	(322)	(304)
Equity-based compensation plans and other			1
Ending balance	3,508	3,261	3,508	3,261
Accumulated Other Comprehensive Loss [Member]
Changes in Shareowners' Equity Roll Forward [Line Items]
Beginning balance	0	(1)	0	(1)
Ending balance	0	(1)	0	(1)
Shares in Deferred Compensation Trust [Member]
Changes in Shareowners' Equity Roll Forward [Line Items]
Beginning balance	(12)	(11)	(12)	(11)
Equity-based compensation plans and other	(1)		(1)
Ending balance	(13)	(11)	(13)	(11)
Noncontrolling Interest [Member]
Changes in Shareowners' Equity Roll Forward [Line Items]
Beginning balance	29		0
Contributions from noncontrolling interest			29
Distributions to noncontrolling interest	(29)		(29)
Ending balance	0		0
Cumulative Preferred Stock [Member]
Changes in Shareowners' Equity Roll Forward [Line Items]
Beginning balance		200		200
Ending balance		200		200
IPL [Member]
Changes in Shareowners' Equity Roll Forward [Line Items]
Beginning balance			3,769
Beginning balance	3,782	3,979	3,769	3,964
Net income attributable to common shareowners	154	157	327	322
Net income	154	160	327	330
Common stock dividends	(80)	(101)	(240)	(301)
Capital contributions from parent			0	50
Ending balance	3,856		3,856
Ending balance	3,856	4,035	3,856	4,035
IPL [Member] | Common Stock [Member]
Changes in Shareowners' Equity Roll Forward [Line Items]
Beginning balance	33	33	33	33
Ending balance	33	33	33	33
IPL [Member] | Additional Paid-in Capital [Member]
Changes in Shareowners' Equity Roll Forward [Line Items]
Beginning balance	2,807	2,802	2,807	2,752
Capital contributions from parent				50
Ending balance	2,807	2,802	2,807	2,802
IPL [Member] | Retained Earnings [Member]
Changes in Shareowners' Equity Roll Forward [Line Items]
Beginning balance	942	944	929	979
Net income attributable to common shareowners	154	157	327	322
Common stock dividends	(80)	(101)	(240)	(301)
Ending balance	1,016	1,000	1,016	1,000
IPL [Member] | Cumulative Preferred Stock [Member]
Changes in Shareowners' Equity Roll Forward [Line Items]
Beginning balance	0	200	0	200
Ending balance	0	200	0	200
WPL [Member]
Changes in Shareowners' Equity Roll Forward [Line Items]
Beginning balance			2,823
Beginning balance	3,183	2,725	2,823	2,478
Net income	91	93	247	215
Common stock dividends	(44)	(41)	(133)	(126)
Equity-based compensation plans and other			(1)
Capital contributions from parent	155	35	420	245
Contributions from noncontrolling interest			29
Distributions to noncontrolling interest	(29)		(29)
Ending balance	3,356		3,356
Ending balance	3,356	2,812	3,356	2,812
WPL [Member] | Common Stock [Member]
Changes in Shareowners' Equity Roll Forward [Line Items]
Beginning balance	66	66	66	66
Ending balance	66	66	66	66
WPL [Member] | Additional Paid-in Capital [Member]
Changes in Shareowners' Equity Roll Forward [Line Items]
Beginning balance	1,968	1,669	1,704	1,459
Equity-based compensation plans and other			(1)
Capital contributions from parent	155	35	420	245
Ending balance	2,123	1,704	2,123	1,704
WPL [Member] | Retained Earnings [Member]
Changes in Shareowners' Equity Roll Forward [Line Items]
Beginning balance	1,120	990	1,053	953
Net income	91	93	247	215
Common stock dividends	(44)	(41)	(133)	(126)
Ending balance	1,167	1,042	1,167	1,042
WPL [Member] | Noncontrolling Interest [Member]
Changes in Shareowners' Equity Roll Forward [Line Items]
Beginning balance	29	0	0	0
Contributions from noncontrolling interest			29
Distributions to noncontrolling interest	(29)		(29)
Ending balance	$ 0	$ 0	$ 0	$ 0

XML

Debt (Narrative) (Details) - USD ($) $ in Millions	Oct. 31, 2022	Sep. 30, 2022	Dec. 31, 2021
Subsequent Event [Member]
Debt [Line Items]
Line of credit facility, current borrowing capacity	$ 1,000
Parent Company [Member] | Subsequent Event [Member]
Debt [Line Items]
Line of credit facility, current borrowing capacity	500
IPL [Member] | Subsequent Event [Member]
Debt [Line Items]
Line of credit facility, current borrowing capacity	200
WPL [Member] | Subsequent Event [Member]
Debt [Line Items]
Line of credit facility, current borrowing capacity	$ 300
Senior Notes [Member] | 3.6% senior notes, due 2032 [Member]
Debt [Line Items]
Long-term debt		$ 350
Interest rate, percent		3.60%
Senior Notes [Member] | 3.45% senior notes, due 2022 [Member] | Corporate Services [Member]
Debt [Line Items]
Long-term debt			$ 75
Interest rate, percent			3.45%
Term Loan Credit Agreement [Member] | Term loan credit agreement through March 2024 [Member]
Debt [Line Items]
Long-term debt		$ 300
Interest rate, percent		3.00%
Term Loan Credit Agreement [Member] | Term loan credit agreement through March 2022 [Member]
Debt [Line Items]
Long-term debt			$ 300
Debentures [Member] | 3.95% debenture, due 2032 [Member] | WPL [Member]
Debt [Line Items]
Long-term debt		$ 600
Interest rate, percent		3.95%

XML

Debt (Credit Facilities) (Details) $ in Millions	Sep. 30, 2022 USD ($)
Debt [Line Items]
Amount outstanding	$ 383
Weighted average interest rates	3.40%
Available credit facility capacity	$ 617
IPL [Member]
Debt [Line Items]
Amount outstanding	0
Available credit facility capacity	250
WPL [Member]
Debt [Line Items]
Amount outstanding	0
Available credit facility capacity	$ 300

XML

Debt (Other Short-Term Borrowings) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Debt [Line Items]
Maximum amount outstanding (based on daily outstanding balances)	$ 449	$ 648	$ 577	$ 648
Average amount outstanding (based on daily outstanding balances)	$ 353	$ 560	$ 377	$ 479
Weighted average interest rates	2.40%	0.20%	1.20%	0.20%
IPL [Member]
Debt [Line Items]
Maximum amount outstanding (based on daily outstanding balances)	$ 0	$ 8	$ 0	$ 19
Average amount outstanding (based on daily outstanding balances)	$ 0	$ 0	$ 0	$ 0
Weighted average interest rates	0.00%	0.20%	0.00%	0.20%
WPL [Member]
Debt [Line Items]
Maximum amount outstanding (based on daily outstanding balances)	$ 251	$ 320	$ 252	$ 320
Average amount outstanding (based on daily outstanding balances)	$ 110	$ 221	$ 160	$ 196
Weighted average interest rates	2.00%	0.10%	0.90%	0.10%

XML

Revenue (Disaggregation of Revenues) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	$ 1,135	$ 1,024	$ 3,147	$ 2,742
Electric [Member]
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	1,039	939	2,624	2,357
Electric [Member] | Retail - residential [Member]
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	376	348	956	868
Electric [Member] | Retail - commercial [Member]
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	243	232	628	579
Electric [Member] | Retail - industrial [Member]
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	289	265	743	677
Electric [Member] | Wholesale [Member]
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	68	55	168	142
Electric [Member] | Other [Member]
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	63	39	129	91
Gas [Member]
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	62	50	418	289
Gas [Member] | Retail - residential [Member]
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	28	24	237	162
Gas [Member] | Retail - commercial [Member]
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	18	13	127	85
Gas [Member] | Retail - industrial [Member]
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	4	3	15	11
Gas [Member] | Other [Member]
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	12	10	39	31
Other Utility [Member]
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	11	13	35	36
Other Utility [Member] | Steam [Member]
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	9	9	29	27
Other Utility [Member] | Other [Member]
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	2	4	6	9
Non-utility and Other [Member]
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	23	22	70	60
Non-utility and Other [Member] | Other [Member]
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	23	22	70	60
IPL [Member]
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	640	599	1,696	1,543
IPL [Member] | Electric [Member]
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	596	555	1,438	1,343
IPL [Member] | Electric [Member] | Retail - residential [Member]
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	222	207	529	488
IPL [Member] | Electric [Member] | Retail - commercial [Member]
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	165	160	411	385
IPL [Member] | Electric [Member] | Retail - industrial [Member]
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	172	158	418	386
IPL [Member] | Electric [Member] | Wholesale [Member]
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	19	18	49	44
IPL [Member] | Electric [Member] | Other [Member]
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	18	12	31	40
IPL [Member] | Gas [Member]
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	33	31	224	165
IPL [Member] | Gas [Member] | Retail - residential [Member]
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	14	14	127	90
IPL [Member] | Gas [Member] | Retail - commercial [Member]
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	8	8	62	47
IPL [Member] | Gas [Member] | Retail - industrial [Member]
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	3	3	10	8
IPL [Member] | Gas [Member] | Other [Member]
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	8	6	25	20
IPL [Member] | Other Utility [Member]
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	11	13	34	35
IPL [Member] | Other Utility [Member] | Steam [Member]
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	9	9	29	27
IPL [Member] | Other Utility [Member] | Other [Member]
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	2	4	5	8
WPL [Member]
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	472	403	1,381	1,139
WPL [Member] | Electric [Member]
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	443	384	1,186	1,014
WPL [Member] | Electric [Member] | Retail - residential [Member]
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	154	141	427	380
WPL [Member] | Electric [Member] | Retail - commercial [Member]
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	78	72	217	194
WPL [Member] | Electric [Member] | Retail - industrial [Member]
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	117	107	325	291
WPL [Member] | Electric [Member] | Wholesale [Member]
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	49	37	119	98
WPL [Member] | Electric [Member] | Other [Member]
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	45	27	98	51
WPL [Member] | Gas [Member]
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	29	19	194	124
WPL [Member] | Gas [Member] | Retail - residential [Member]
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	14	10	110	72
WPL [Member] | Gas [Member] | Retail - commercial [Member]
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	10	5	65	38
WPL [Member] | Gas [Member] | Retail - industrial [Member]
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	1	0	5	3
WPL [Member] | Gas [Member] | Other [Member]
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	4	4	14	11
WPL [Member] | Other Utility [Member]
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	0	0	1	1
WPL [Member] | Other Utility [Member] | Other [Member]
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	$ 0	$ 0	$ 1	$ 1

XML

Income Taxes (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2024	Dec. 31, 2023
Income Taxes [Line Items]
State income tax rate, percent			9.80%
Regulatory assets			$ (102)	$ (21)
Income tax expense (benefit)	$ 14	$ (21)	26	(66)
Tax-related [Member]
Income Taxes [Line Items]
Regulatory assets	76
Income tax expense (benefit)	8
Forecast [Member]
Income Taxes [Line Items]
State income tax rate, percent					5.50%	8.40%
IPL [Member]
Income Taxes [Line Items]
Regulatory assets			18	(33)
Income tax expense (benefit)	(16)	(12)	(39)	(34)
IPL [Member] | Tax-related [Member]
Income Taxes [Line Items]
Regulatory assets	76
WPL [Member]
Income Taxes [Line Items]
Regulatory assets			(120)	11
Income tax expense (benefit)	$ 16	$ (15)	$ 50	$ (41)

XML

Income Taxes (Schedule Of Effective Income Tax Rates) (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Effective Tax Rate [Line Items]
Overall income tax rate	6.00%	(9.00%)	4.00%	(13.00%)
IPL [Member]
Effective Tax Rate [Line Items]
Overall income tax rate	(12.00%)	(8.00%)	(14.00%)	(11.00%)
WPL [Member]
Effective Tax Rate [Line Items]
Overall income tax rate	15.00%	(19.00%)	17.00%	(24.00%)

XML

Income Taxes (Summary Of Tax Credit Carryforwards) (Details) $ in Millions	Sep. 30, 2022 USD ($)
State [Member]
Carryforwards [Line Items]
Net operating losses, carryforward amount	$ 500
Federal [Member]
Carryforwards [Line Items]
Tax credits, carryforward amount	655
IPL [Member] | State [Member]
Carryforwards [Line Items]
Net operating losses, carryforward amount	9
IPL [Member] | Federal [Member]
Carryforwards [Line Items]
Tax credits, carryforward amount	437
WPL [Member] | State [Member]
Carryforwards [Line Items]
Net operating losses, carryforward amount	2
WPL [Member] | Federal [Member]
Carryforwards [Line Items]
Tax credits, carryforward amount	$ 208

XML

Benefit Plans (Narrative) (Details) $ in Millions	9 Months Ended
	Sep. 30, 2022 USD ($) shares
Defined Benefit Plan Disclosure [Line Items]
Unrecognized compensation cost	$ 8
Minimum [Member]
Defined Benefit Plan Disclosure [Line Items]
Unrecognized compensation cost recognized over a weighted average period	1 year
Maximum [Member]
Defined Benefit Plan Disclosure [Line Items]
Unrecognized compensation cost recognized over a weighted average period	2 years
IPL [Member]
Defined Benefit Plan Disclosure [Line Items]
Unrecognized compensation cost	$ 5
WPL [Member]
Defined Benefit Plan Disclosure [Line Items]
Unrecognized compensation cost	$ 3
Omnibus Incentive Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Shares included in diluted earnings per share (in shares) | shares	285,909

XML

Benefit Plans (Defined Benefit Pension And Other Postretirement Benefits Plans) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Defined benefit pension plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 3	$ 2	$ 7	$ 8
Interest cost	9	9	27	26
Expected return on plan assets	(18)	(17)	(52)	(51)
Amortization of prior service credit	0	(1)	0	(1)
Amortization of actuarial loss	8	10	24	29
Total	2	3	6	11
OPEB Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	0	1	2	3
Interest cost	1	1	4	3
Expected return on plan assets	0	(1)	(3)	(3)
Amortization of prior service credit	0	0	0	0
Amortization of actuarial loss	1	1	2	3
Total	2	2	5	6
IPL [Member] | Defined benefit pension plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	1	1	4	5
Interest cost	4	4	12	12
Expected return on plan assets	(7)	(8)	(23)	(24)
Amortization of actuarial loss	3	5	10	13
Total	1	2	3	6
IPL [Member] | OPEB Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	0	0	1	1
Interest cost	1	1	2	2
Expected return on plan assets	(1)	(1)	(3)	(3)
Amortization of actuarial loss	0	0	0	1
Total	0	0	0	1
WPL [Member] | Defined benefit pension plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	0	1	2	3
Interest cost	4	3	12	11
Expected return on plan assets	(7)	(8)	(23)	(23)
Amortization of actuarial loss	4	5	12	14
Total	1	1	3	5
WPL [Member] | OPEB Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	0	1	0	1
Interest cost	1	0	2	1
Expected return on plan assets	0	0	0	0
Amortization of actuarial loss	0	1	1	2
Total	$ 1	$ 2	$ 3	$ 4

XML

Benefit Plans (Recognized Compensation Expense And Income Tax Benefits) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Compensation expense	$ 3	$ 4	$ 9	$ 9
Income tax benefits	1	1	3	3
IPL [Member]
Compensation expense	2	2	5	5
Income tax benefits	0	0	1	1
WPL [Member]
Compensation expense	1	2	4	4
Income tax benefits	$ 0	$ 0	$ 1	$ 1

XML

Benefit Plans (Summary Of Equity-based Compensation Plans Grants) (Details)	9 Months Ended
	Sep. 30, 2022 $ / shares shares
Performance Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grants (in shares/units) | shares	74,106
Weighted average grant date fair value (in dollars per share/unit) | $ / shares	$ 54.45
Performance Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grants (in shares/units) | shares	84,670
Weighted average grant date fair value (in dollars per share/unit) | $ / shares	$ 57.01
Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grants (in shares/units) | shares	77,122
Weighted average grant date fair value (in dollars per share/unit) | $ / shares	$ 56.88

XML

Derivative Instruments (Notional Amounts Of Derivative Instruments) (Details) - Commodity [Member] gal in Thousands, T in Thousands, MWh in Thousands, Dekatherms in Thousands	9 Months Ended
	Sep. 30, 2022 Dekatherms MWh T gal
Electricity (MWhs) [Member]
Notional Amount of Derivatives [Line Items]
Notional unit amount of derivatives (in MWhs)	1,379
Electricity (MWhs) [Member] | IPL [Member]
Notional Amount of Derivatives [Line Items]
Notional unit amount of derivatives (in MWhs)	768
Electricity (MWhs) [Member] | WPL [Member]
Notional Amount of Derivatives [Line Items]
Notional unit amount of derivatives (in MWhs)	611
FTRs (MWhs) [Member]
Notional Amount of Derivatives [Line Items]
Notional unit amount of derivatives (in MWhs)	14,454
FTRs (MWhs) [Member] | IPL [Member]
Notional Amount of Derivatives [Line Items]
Notional unit amount of derivatives (in MWhs)	6,165
FTRs (MWhs) [Member] | WPL [Member]
Notional Amount of Derivatives [Line Items]
Notional unit amount of derivatives (in MWhs)	8,289
Natural Gas (Dths) [Member]
Notional Amount of Derivatives [Line Items]
Notional unit amount of derivatives (in Dths) | Dekatherms	249,508
Natural Gas (Dths) [Member] | IPL [Member]
Notional Amount of Derivatives [Line Items]
Notional unit amount of derivatives (in Dths) | Dekatherms	135,193
Natural Gas (Dths) [Member] | WPL [Member]
Notional Amount of Derivatives [Line Items]
Notional unit amount of derivatives (in Dths) | Dekatherms	114,315
Coal (Tons) [Member]
Notional Amount of Derivatives [Line Items]
Notional unit amount of derivatives (in Tons) | T	1,566
Coal (Tons) [Member] | IPL [Member]
Notional Amount of Derivatives [Line Items]
Notional unit amount of derivatives (in Tons) | T	669
Coal (Tons) [Member] | WPL [Member]
Notional Amount of Derivatives [Line Items]
Notional unit amount of derivatives (in Tons) | T	897
Diesel Fuel (Gallons) [Member]
Notional Amount of Derivatives [Line Items]
Notional unit amount of derivatives (in Gallons) | gal	756
Diesel Fuel (Gallons) [Member] | IPL [Member]
Notional Amount of Derivatives [Line Items]
Notional unit amount of derivatives (in Gallons) | gal	0
Diesel Fuel (Gallons) [Member] | WPL [Member]
Notional Amount of Derivatives [Line Items]
Notional unit amount of derivatives (in Gallons) | gal	756

XML

Derivative Instruments (Fair Value Of Financial Instruments) (Details) - Commodity Contracts [Member] - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Derivatives, Fair Value [Line Items]
Current derivative assets	$ 200	$ 113
Non-current derivative assets	160	63
Current derivative liabilities	71	8
Non-current derivative liabilities	27	1
IPL [Member]
Derivatives, Fair Value [Line Items]
Current derivative assets	117	48
Non-current derivative assets	85	36
Current derivative liabilities	54	4
Non-current derivative liabilities	12	0
WPL [Member]
Derivatives, Fair Value [Line Items]
Current derivative assets	83	65
Non-current derivative assets	75	27
Current derivative liabilities	17	4
Non-current derivative liabilities	$ 15	$ 1

XML

Derivative Instruments (Balance Sheet Offsetting) (Details) - Commodity Contracts [Member] - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Derivative Instruments [Line Items]
Derivative assets, Gross (as reported)	$ 360	$ 176
Derivative assets, Net	308	171
Derivative liabilities, Gross (as reported)	98	9
Derivative liabilities, Net	46	4
IPL [Member]
Derivative Instruments [Line Items]
Derivative assets, Gross (as reported)	202	84
Derivative assets, Net	165	83
Derivative liabilities, Gross (as reported)	66	4
Derivative liabilities, Net	29	3
WPL [Member]
Derivative Instruments [Line Items]
Derivative assets, Gross (as reported)	158	92
Derivative assets, Net	143	88
Derivative liabilities, Gross (as reported)	32	5
Derivative liabilities, Net	$ 17	$ 1

XML

Fair Value Measurements (Fair Value Measurements) (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Assets:
Money market fund investments	$ 334	$ 32
Deferred proceeds	248	214
Liabilities:
Long-term debt (incl. current maturities)	7,474	8,330
IPL [Member]
Assets:
Money market fund investments	39	32
Deferred proceeds	248	214
Liabilities:
Long-term debt (incl. current maturities)	3,228	4,124
WPL [Member]
Assets:
Money market fund investments	295	0
Liabilities:
Long-term debt (incl. current maturities)	2,778	2,862
Commodity Contracts [Member]
Assets:
Derivatives	360	176
Liabilities:
Derivatives	98	9
Commodity Contracts [Member] | IPL [Member]
Assets:
Derivatives	202	84
Liabilities:
Derivatives	66	4
Commodity Contracts [Member] | WPL [Member]
Assets:
Derivatives	158	92
Liabilities:
Derivatives	32	5
Level 1 [Member]
Assets:
Money market fund investments	334	32
Deferred proceeds	0	0
Liabilities:
Long-term debt (incl. current maturities)	0	0
Level 1 [Member] | IPL [Member]
Assets:
Money market fund investments	39	32
Deferred proceeds	0	0
Liabilities:
Long-term debt (incl. current maturities)	0	0
Level 1 [Member] | WPL [Member]
Assets:
Money market fund investments	295	0
Liabilities:
Long-term debt (incl. current maturities)	0	0
Level 1 [Member] | Commodity Contracts [Member]
Assets:
Derivatives	0	0
Liabilities:
Derivatives	0	0
Level 1 [Member] | Commodity Contracts [Member] | IPL [Member]
Assets:
Derivatives	0	0
Liabilities:
Derivatives	0	0
Level 1 [Member] | Commodity Contracts [Member] | WPL [Member]
Assets:
Derivatives	0	0
Liabilities:
Derivatives	0	0
Level 2 [Member]
Assets:
Money market fund investments	0	0
Deferred proceeds	0	0
Liabilities:
Long-term debt (incl. current maturities)	7,473	8,329
Level 2 [Member] | IPL [Member]
Assets:
Money market fund investments	0	0
Deferred proceeds	0	0
Liabilities:
Long-term debt (incl. current maturities)	3,228	4,124
Level 2 [Member] | WPL [Member]
Assets:
Money market fund investments	0	0
Liabilities:
Long-term debt (incl. current maturities)	2,778	2,862
Level 2 [Member] | Commodity Contracts [Member]
Assets:
Derivatives	295	146
Liabilities:
Derivatives	78	8
Level 2 [Member] | Commodity Contracts [Member] | IPL [Member]
Assets:
Derivatives	150	65
Liabilities:
Derivatives	47	3
Level 2 [Member] | Commodity Contracts [Member] | WPL [Member]
Assets:
Derivatives	145	81
Liabilities:
Derivatives	31	5
Level 3 [Member]
Assets:
Money market fund investments	0	0
Deferred proceeds	248	214
Liabilities:
Long-term debt (incl. current maturities)	1	1
Level 3 [Member] | IPL [Member]
Assets:
Money market fund investments	0	0
Deferred proceeds	248	214
Liabilities:
Long-term debt (incl. current maturities)	0	0
Level 3 [Member] | WPL [Member]
Assets:
Money market fund investments	0	0
Liabilities:
Long-term debt (incl. current maturities)	0	0
Level 3 [Member] | Commodity Contracts [Member]
Assets:
Derivatives	65	30
Liabilities:
Derivatives	20	1
Level 3 [Member] | Commodity Contracts [Member] | IPL [Member]
Assets:
Derivatives	52	19
Liabilities:
Derivatives	19	1
Level 3 [Member] | Commodity Contracts [Member] | WPL [Member]
Assets:
Derivatives	13	11
Liabilities:
Derivatives	1	0
Carrying Amount [Member]
Assets:
Money market fund investments	334	32
Deferred proceeds	248	214
Liabilities:
Long-term debt (incl. current maturities)	8,228	7,368
Carrying Amount [Member] | IPL [Member]
Assets:
Money market fund investments	39	32
Deferred proceeds	248	214
Liabilities:
Long-term debt (incl. current maturities)	3,645	3,643
Carrying Amount [Member] | WPL [Member]
Assets:
Money market fund investments	295	0
Liabilities:
Long-term debt (incl. current maturities)	3,019	2,429
Carrying Amount [Member] | Commodity Contracts [Member]
Assets:
Derivatives	360	176
Liabilities:
Derivatives	98	9
Carrying Amount [Member] | Commodity Contracts [Member] | IPL [Member]
Assets:
Derivatives	202	84
Liabilities:
Derivatives	66	4
Carrying Amount [Member] | Commodity Contracts [Member] | WPL [Member]
Assets:
Derivatives	158	92
Liabilities:
Derivatives	$ 32	$ 5

XML

Fair Value Measurements (Fair Value Measurements Using Significant Unobservable Inputs) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Commodity Contracts [Member]
Fair Value, Assets and Liabilities, Net, Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	$ 72	$ 39	$ 29	$ 29
Total net gains (losses) included in changes in net assets (realized/unrealized)	(1)	5	(17)	6
Transfers out of Level 3	0	(8)	0	(8)
Purchases			79	21
Settlements	(26)	(7)	(46)	(19)
Ending balance	45	29	45	29
The amount of total net gains (losses) for the period included in changes in net assets attributable to the change in unrealized gains (losses) relating to assets and liabilities held at September 30	(1)	5	(17)	6
Commodity Contracts [Member] | IPL [Member]
Fair Value, Assets and Liabilities, Net, Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	58	30	18	26
Total net gains (losses) included in changes in net assets (realized/unrealized)	(6)	2	(13)	0
Transfers out of Level 3	0	(8)	0	(8)
Purchases			58	16
Settlements	(19)	(5)	(30)	(15)
Ending balance	33	19	33	19
The amount of total net gains (losses) for the period included in changes in net assets attributable to the change in unrealized gains (losses) relating to assets and liabilities held at September 30	(6)	2	(14)	0
Commodity Contracts [Member] | WPL [Member]
Fair Value, Assets and Liabilities, Net, Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	14	9	11	3
Total net gains (losses) included in changes in net assets (realized/unrealized)	5	3	(4)	6
Purchases			21	5
Settlements	(7)	(2)	(16)	(4)
Ending balance	12	10	12	10
The amount of total net gains (losses) for the period included in changes in net assets attributable to the change in unrealized gains (losses) relating to assets and liabilities held at September 30	5	3	(3)	6
Deferred Proceeds [Member]
Fair Value, Assets and Liabilities, Net, Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	244	154	214	188
Total net gains (losses) included in changes in net assets (realized/unrealized)	0	0	0	0
Transfers out of Level 3	0	0	0	0
Purchases			0	0
Settlements	4	10	34	(24)
Ending balance	248	164	248	164
The amount of total net gains (losses) for the period included in changes in net assets attributable to the change in unrealized gains (losses) relating to assets and liabilities held at September 30	0	0	0	0
Deferred Proceeds [Member] | IPL [Member]
Fair Value, Assets and Liabilities, Net, Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	244	154	214	188
Total net gains (losses) included in changes in net assets (realized/unrealized)	0	0	0	0
Transfers out of Level 3	0	0	0	0
Purchases			0	0
Settlements	4	10	34	(24)
Ending balance	248	164	248	164
The amount of total net gains (losses) for the period included in changes in net assets attributable to the change in unrealized gains (losses) relating to assets and liabilities held at September 30	$ 0	$ 0	$ 0	$ 0

XML

Fair Value Measurements (Fair Value Of Net Derivative Assets (Liabilities)) (Details) - Commodity Contracts [Member] - USD ($) $ in Millions	Sep. 30, 2022	Jun. 30, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Dec. 31, 2020
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair value, net derivative assets	$ 45	$ 72	$ 29	$ 29	$ 39	$ 29
Excluding Financial Transmission Rights [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair value, net derivative liabilities	(14)
Fair value, net derivative assets			9
Financial Transmission Rights [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair value, net derivative assets	59		20
IPL [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair value, net derivative assets	33	58	18	19	30	26
IPL [Member] | Excluding Financial Transmission Rights [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair value, net derivative liabilities	(15)
Fair value, net derivative assets			8
IPL [Member] | Financial Transmission Rights [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair value, net derivative assets	48		10
WPL [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair value, net derivative assets	12	$ 14	11	$ 10	$ 9	$ 3
WPL [Member] | Excluding Financial Transmission Rights [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair value, net derivative assets	1		1
WPL [Member] | Financial Transmission Rights [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair value, net derivative assets	$ 11		$ 10

XML

Commitments And Contingencies (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2020	Dec. 31, 2019
Commitments and Contingencies [Line Items]
Minimum future commitments			$ 1,931
Equity (income) loss from unconsolidated investments, net	$ 5	$ 13	37	$ 47
IPL [Member]
Commitments and Contingencies [Line Items]
Minimum future commitments			894
WPL [Member]
Commitments and Contingencies [Line Items]
Minimum future commitments			996
Capital Purchase Commitment [Member]
Commitments and Contingencies [Line Items]
Minimum future commitments			208
Capital Purchase Commitment [Member] | WPL [Member]
Commitments and Contingencies [Line Items]
Minimum future commitments			206
Indemnification Agreement [Member]
Commitments and Contingencies [Line Items]
Obligations, maximum	59		59
Indemnification Agreement [Member] | Purchased Power [Member]
Commitments and Contingencies [Line Items]
Obligations, maximum	17		$ 17
Whiting Petroleum Affiliate [Member]
Commitments and Contingencies [Line Items]
Partnership share, percent			6.00%
Obligations, maximum	58		$ 58
Credit loss liability	5		5
Federal Energy Regulatory Commission [Member]
Commitments and Contingencies [Line Items]
MISO base return on equity, percentage					10.02%	9.88%
Equity (income) loss from unconsolidated investments, net	$ 5		$ 5

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Commitments And Contingencies (Other Purchase Commitments) (Details) $ in Millions	9 Months Ended
	Sep. 30, 2022 USD ($)
Commitments and Contingencies [Line Items]
Minimum future commitments	$ 1,931
Individual commitments incurred	1
IPL [Member]
Commitments and Contingencies [Line Items]
Minimum future commitments	894
Individual commitments incurred	1
WPL [Member]
Commitments and Contingencies [Line Items]
Minimum future commitments	996
Individual commitments incurred	1
Natural gas [Member]
Commitments and Contingencies [Line Items]
Minimum future commitments	1,608
Natural gas [Member] | IPL [Member]
Commitments and Contingencies [Line Items]
Minimum future commitments	742
Natural gas [Member] | WPL [Member]
Commitments and Contingencies [Line Items]
Minimum future commitments	866
Coal [Member]
Commitments and Contingencies [Line Items]
Minimum future commitments	197
Coal [Member] | IPL [Member]
Commitments and Contingencies [Line Items]
Minimum future commitments	95
Coal [Member] | WPL [Member]
Commitments and Contingencies [Line Items]
Minimum future commitments	102
Other [Member]
Commitments and Contingencies [Line Items]
Minimum future commitments	126
Other [Member] | IPL [Member]
Commitments and Contingencies [Line Items]
Minimum future commitments	57
Other [Member] | WPL [Member]
Commitments and Contingencies [Line Items]
Minimum future commitments	$ 28

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Commitments And Contingencies (MPG Site Estimated Future Costs And Recorded Liabilities) (Details) - Natural Gas Processing Plant [Member] $ in Millions	9 Months Ended
	Sep. 30, 2022 USD ($)
Commitments and Contingencies [Line Items]
Current and non-current environmental liabilities	$ 12
IPL [Member]
Commitments and Contingencies [Line Items]
Current and non-current environmental liabilities	8
Minimum [Member]
Commitments and Contingencies [Line Items]
Range of estimated future costs	9
Minimum [Member] | IPL [Member]
Commitments and Contingencies [Line Items]
Range of estimated future costs	6
Maximum [Member]
Commitments and Contingencies [Line Items]
Range of estimated future costs	25
Maximum [Member] | IPL [Member]
Commitments and Contingencies [Line Items]
Range of estimated future costs	$ 19

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Segments Of Business (Schedule Of Segments Of Business) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Segment Reporting Information [Line Items]
Revenues	$ 1,135	$ 1,024	$ 3,147	$ 2,742
Operating income (loss)	309	289	769	663
Net income (loss) attributable to common shareowners	227	256	579	571
Net income	227	259	579	579
IPL [Member]
Segment Reporting Information [Line Items]
Revenues	640	599	1,696	1,543
Operating income (loss)	171	180	389	394
Net income (loss) attributable to common shareowners	154	157	327	322
Net income	154	160	327	330
WPL [Member]
Segment Reporting Information [Line Items]
Revenues	472	403	1,381	1,139
Operating income (loss)	131	100	357	245
Net income	91	93	247	215
Electric [Member]
Segment Reporting Information [Line Items]
Revenues	1,039	939	2,624	2,357
Operating income (loss)	304	290	680	601
Electric [Member] | IPL [Member]
Segment Reporting Information [Line Items]
Revenues	596	555	1,438	1,343
Operating income (loss)	174	186	353	365
Electric [Member] | WPL [Member]
Segment Reporting Information [Line Items]
Revenues	443	384	1,186	1,014
Operating income (loss)	130	104	327	236
Gas [Member]
Segment Reporting Information [Line Items]
Revenues	62	50	418	289
Operating income (loss)	(3)	(5)	62	42
Gas [Member] | IPL [Member]
Segment Reporting Information [Line Items]
Revenues	33	31	224	165
Operating income (loss)	(3)	(3)	33	30
Gas [Member] | WPL [Member]
Segment Reporting Information [Line Items]
Revenues	29	19	194	124
Operating income (loss)	0	(2)	29	12
Other Utility [Member]
Segment Reporting Information [Line Items]
Revenues	11	13	35	36
Operating income (loss)	1	(5)	4	(4)
Other Utility [Member] | IPL [Member]
Segment Reporting Information [Line Items]
Revenues	11	13	34	35
Operating income (loss)	0	(3)	3	(1)
Other Utility [Member] | WPL [Member]
Segment Reporting Information [Line Items]
Revenues	0	0	1	1
Operating income (loss)	1	(2)	1	(3)
Utility Business [Member]
Segment Reporting Information [Line Items]
Revenues	1,112	1,002	3,077	2,682
Operating income (loss)	302	280	746	639
Net income (loss) attributable to common shareowners	245	250	574	537
ATC Holdings, Non-Utility, Parent and Other [Member]
Segment Reporting Information [Line Items]
Revenues	23	22	70	60
Operating income (loss)	7	9	23	24
Net income (loss) attributable to common shareowners	$ (18)	$ 6	$ 5	$ 34

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Related Parties (Narrative) (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
WPL [Member] | WPL Owed ATC LLC [Member]
Related Party Transactions [Line Items]
Net amounts owed	$ 9	$ 10

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Related Parties (Service Agreements) (Details) - Corporate Services [Member] - Subsidiary of Common Parent [Member] - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Corporate Services Billings [Member] | IPL [Member]
Related Party Transactions [Line Items]
Amounts billed between related parties	$ 45	$ 50	$ 136	$ 138
Corporate Services Billings [Member] | WPL [Member]
Related Party Transactions [Line Items]
Amounts billed between related parties	39	37	117	113
Sales Credited [Member] | IPL [Member]
Related Party Transactions [Line Items]
Amounts billed between related parties	11	4	11	9
Sales Credited [Member] | WPL [Member]
Related Party Transactions [Line Items]
Amounts billed between related parties	31	16	62	23
Purchases Billed [Member] | IPL [Member]
Related Party Transactions [Line Items]
Amounts billed between related parties	119	105	342	347
Purchases Billed [Member] | WPL [Member]
Related Party Transactions [Line Items]
Amounts billed between related parties	$ 42	$ 24	$ 103	$ 71

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Related Parties (Net Intercompany Payables) (Details) - Subsidiary of Common Parent [Member] - Corporate Services [Member] - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
IPL [Member]
Related Party Transactions [Line Items]
Net amounts owed	$ 113	$ 110
WPL [Member]
Related Party Transactions [Line Items]
Net amounts owed	$ 88	$ 83

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Related Parties (Amounts Billed Between Parties) (Details) - ATC LLC [Member] - WPL [Member] - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
ATC Billings To WPL [Member]
Related Party Transactions [Line Items]
Amounts billed between related parties	$ 38	$ 29	$ 107	$ 91
WPL Billings To ATC [Member]
Related Party Transactions [Line Items]
Amounts billed between related parties	$ 6	$ 4	$ 14	$ 13