Receivables

3 Months Ended

Mar. 31, 2024

Receivables [Line Items]

Receivables

RECEIVABLES

Sales of Accounts Receivable - IPL maintains a Receivables Purchase and Sale Agreement (Receivables Agreement) whereby it may sell its customer accounts receivables, unbilled revenues and certain other accounts receivables to a third party through wholly-owned and consolidated special purpose entities. In March 2024, IPL amended and extended through March 2026 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, 2024, IPL had $92 million of available capacity under its sales of accounts receivable program. IPL’s maximum and average outstanding aggregate 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):

	2024	2023
Maximum outstanding aggregate cash proceeds	$79	$89
Average outstanding aggregate cash proceeds	24	58

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

	March 31, 2024	December 31, 2023
Customer accounts receivable	$125	$130
Unbilled utility revenues	89	98
Other receivables	1	1
Receivables sold to third party	215	229
Less: cash proceeds	18	1
Deferred proceeds	197	228
Less: allowance for expected credit losses	13	12
Fair value of deferred proceeds	$184	$216

As of March 31, 2024, outstanding receivables past due under the Receivables Agreement were $22 million. Additional attributes of IPL’s receivables sold under the Receivables Agreement for the three months ended March 31 were as follows (in millions):

	2024	2023
Collections	$557	$591
Write-offs, net of recoveries	3	2

Effective April 2024, the limit on cash proceeds under the Receivables Agreement is $80 million.

IPL [Member]

Receivables [Line Items]

Receivables

RECEIVABLES

Sales of Accounts Receivable - IPL maintains a Receivables Purchase and Sale Agreement (Receivables Agreement) whereby it may sell its customer accounts receivables, unbilled revenues and certain other accounts receivables to a third party through wholly-owned and consolidated special purpose entities. In March 2024, IPL amended and extended through March 2026 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, 2024, IPL had $92 million of available capacity under its sales of accounts receivable program. IPL’s maximum and average outstanding aggregate 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):

	2024	2023
Maximum outstanding aggregate cash proceeds	$79	$89
Average outstanding aggregate cash proceeds	24	58

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

	March 31, 2024	December 31, 2023
Customer accounts receivable	$125	$130
Unbilled utility revenues	89	98
Other receivables	1	1
Receivables sold to third party	215	229
Less: cash proceeds	18	1
Deferred proceeds	197	228
Less: allowance for expected credit losses	13	12
Fair value of deferred proceeds	$184	$216

As of March 31, 2024, outstanding receivables past due under the Receivables Agreement were $22 million. Additional attributes of IPL’s receivables sold under the Receivables Agreement for the three months ended March 31 were as follows (in millions):

	2024	2023
Collections	$557	$591
Write-offs, net of recoveries	3	2

Effective April 2024, the limit on cash proceeds under the Receivables Agreement is $80 million.