Receivables

9 Months Ended

Sep. 30, 2023

Receivables [Line Items]

Receivables

RECEIVABLES

NOTE 4(a) - Accounts Receivable - For the three and nine months ended September 30, 2023, Alliant Energy’s, IPL’s and WPL’s gross write-offs for accounts receivable were as follows (in millions):

	Originated in 2022		Originated in 2023
	Three Months	Nine Months	Three Months	Nine Months
Alliant Energy	$3	$11	$6	$8
IPL	2	7	4	5
WPL	1	4	2	3

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 limit on cash proceeds fluctuates between $5 million and $110 million, which IPL may change periodically throughout the year. The transfers of receivables meet the criteria for sale accounting established by the transfer of financial assets accounting rules. As of September 30, 2023, 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
	2023	2022	2023	2022
Maximum outstanding aggregate cash proceeds	$94	$36	$110	$66
Average outstanding aggregate cash proceeds	46	3	68	8

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

	September 30, 2023	December 31, 2022
Customer accounts receivable	$161	$145
Unbilled utility revenues	88	132
Other receivables	1	—
Receivables sold to third party	250	277
Less: cash proceeds	1	80
Deferred proceeds	249	197
Less: allowance for expected credit losses	13	12
Fair value of deferred proceeds	$236	$185

As of September 30, 2023, outstanding receivables past due under the Receivables Agreement were $18 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
	2023	2022	2023	2022
Collections	$616	$670	$1,720	$1,731
Write-offs, net of recoveries	5	3	9	6

Effective October 2023, the limit on cash proceeds under the Receivables Agreement is $5 million.

IPL [Member]

Receivables [Line Items]

Receivables

RECEIVABLES

NOTE 4(a) - Accounts Receivable - For the three and nine months ended September 30, 2023, Alliant Energy’s, IPL’s and WPL’s gross write-offs for accounts receivable were as follows (in millions):

	Originated in 2022		Originated in 2023
	Three Months	Nine Months	Three Months	Nine Months
Alliant Energy	$3	$11	$6	$8
IPL	2	7	4	5
WPL	1	4	2	3

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 limit on cash proceeds fluctuates between $5 million and $110 million, which IPL may change periodically throughout the year. The transfers of receivables meet the criteria for sale accounting established by the transfer of financial assets accounting rules. As of September 30, 2023, 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
	2023	2022	2023	2022
Maximum outstanding aggregate cash proceeds	$94	$36	$110	$66
Average outstanding aggregate cash proceeds	46	3	68	8

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

	September 30, 2023	December 31, 2022
Customer accounts receivable	$161	$145
Unbilled utility revenues	88	132
Other receivables	1	—
Receivables sold to third party	250	277
Less: cash proceeds	1	80
Deferred proceeds	249	197
Less: allowance for expected credit losses	13	12
Fair value of deferred proceeds	$236	$185

As of September 30, 2023, outstanding receivables past due under the Receivables Agreement were $18 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
	2023	2022	2023	2022
Collections	$616	$670	$1,720	$1,731
Write-offs, net of recoveries	5	3	9	6

Effective October 2023, the limit on cash proceeds under the Receivables Agreement is $5 million.

WPL [Member]

Receivables [Line Items]

Receivables

RECEIVABLES

NOTE 4(a) - Accounts Receivable - For the three and nine months ended September 30, 2023, Alliant Energy’s, IPL’s and WPL’s gross write-offs for accounts receivable were as follows (in millions):

	Originated in 2022		Originated in 2023
	Three Months	Nine Months	Three Months	Nine Months
Alliant Energy	$3	$11	$6	$8
IPL	2	7	4	5
WPL	1	4	2	3