Receivables

3 Months Ended

Mar. 31, 2023

Receivables [Line Items]

Receivables

RECEIVABLES

NOTE 4(a) - Accounts Receivable - For the three months ended March 31, 2023, Alliant Energy’s, IPL’s and WPL’s gross write-offs for accounts receivable, which originated in 2022, were $5 million, $3 million and $2 million, respectively.

NOTE 4(b) - Sales of Accounts Receivable - IPL maintains a Receivables Purchase and Sale Agreement (Receivables Agreement) whereby it may sell its customer accounts receivables, unbilled revenues and certain other accounts receivables to a third party through wholly-owned and consolidated special purpose entities. In March 2023, IPL amended and extended through March 2024 the purchase commitment from the third party to which it sells its receivables. The transfers of receivables meet the criteria for sale accounting established by the transfer of financial assets accounting rules. As of March 31, 2023, IPL had $21 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 months ended March 31 were as follows (in millions):

	2023	2022
Maximum outstanding aggregate cash proceeds	$89	$36
Average outstanding aggregate cash proceeds	58	4

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

	March 31, 2023	December 31, 2022
Customer accounts receivable	$161	$145
Unbilled utility revenues	94	132
Receivables sold to third party	255	277
Less: cash proceeds	89	80
Deferred proceeds	166	197
Less: allowance for expected credit losses	13	12
Fair value of deferred proceeds	$153	$185

As of March 31, 2023, outstanding receivables past due under the Receivables Agreement were $26 million. Additional attributes of IPL’s receivables sold under the Receivables Agreement for the three months ended March 31 were as follows (in millions):

	2023	2022
Collections	$591	$561
Write-offs, net of recoveries	2	2

IPL [Member]

Receivables [Line Items]

Receivables

RECEIVABLES

NOTE 4(a) - Accounts Receivable - For the three months ended March 31, 2023, Alliant Energy’s, IPL’s and WPL’s gross write-offs for accounts receivable, which originated in 2022, were $5 million, $3 million and $2 million, respectively.

NOTE 4(b) - Sales of Accounts Receivable - IPL maintains a Receivables Purchase and Sale Agreement (Receivables Agreement) whereby it may sell its customer accounts receivables, unbilled revenues and certain other accounts receivables to a third party through wholly-owned and consolidated special purpose entities. In March 2023, IPL amended and extended through March 2024 the purchase commitment from the third party to which it sells its receivables. The transfers of receivables meet the criteria for sale accounting established by the transfer of financial assets accounting rules. As of March 31, 2023, IPL had $21 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 months ended March 31 were as follows (in millions):

	2023	2022
Maximum outstanding aggregate cash proceeds	$89	$36
Average outstanding aggregate cash proceeds	58	4

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

	March 31, 2023	December 31, 2022
Customer accounts receivable	$161	$145
Unbilled utility revenues	94	132
Receivables sold to third party	255	277
Less: cash proceeds	89	80
Deferred proceeds	166	197
Less: allowance for expected credit losses	13	12
Fair value of deferred proceeds	$153	$185

As of March 31, 2023, outstanding receivables past due under the Receivables Agreement were $26 million. Additional attributes of IPL’s receivables sold under the Receivables Agreement for the three months ended March 31 were as follows (in millions):

	2023	2022
Collections	$591	$561
Write-offs, net of recoveries	2	2

WPL [Member]

Receivables [Line Items]

Receivables

RECEIVABLESNOTE 4(a) - Accounts Receivable - For the three months ended March 31, 2023, Alliant Energy’s, IPL’s and WPL’s gross write-offs for accounts receivable, which originated in 2022, were $5 million, $3 million and $2 million, respectively.