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Preferred Stock | 12 Months Ended
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Dec. 31, 2020
Preferred Stock | PREFERRED STOCK IPL is authorized to issue up to 16,000,000 shares of cumulative preferred stock in aggregate. Information related to the carrying value of IPL’s cumulative preferred stock at December 31 was as follows:
Series |  | Liquidation Preference/Stated Value |  | Shares Authorized |  | Shares Outstanding |  | 2020 |  | 2019
|  |  |  |  |  |  |  | (in millions)
5.1% |  | $25 |  | 8,000,000 |  | 8,000,000 |  | $200 |  |  | $200 |
IPL may, at its option, redeem the 5.1% cumulative preferred stock for cash at a redemption price of $25 per share plus accrued and unpaid dividends up to the redemption date. The current articles of incorporation of IPL contain a provision that grants the holders of its cumulative preferred stock voting rights to elect two members of IPL’s Board of Directors if preferred dividends equal to six or more quarterly dividend requirements (whether or not consecutive) are in arrears. Such voting rights would not provide the holders of IPL’s preferred stock control of the Board of Directors and could not force IPL to redeem its preferred stock.
IPL [Member] |
Preferred Stock | PREFERRED STOCK IPL is authorized to issue up to 16,000,000 shares of cumulative preferred stock in aggregate. Information related to the carrying value of IPL’s cumulative preferred stock at December 31 was as follows:
Series |  | Liquidation Preference/Stated Value |  | Shares Authorized |  | Shares Outstanding |  | 2020 |  | 2019
|  |  |  |  |  |  |  | (in millions)
5.1% |  | $25 |  | 8,000,000 |  | 8,000,000 |  | $200 |  |  | $200 |
IPL may, at its option, redeem the 5.1% cumulative preferred stock for cash at a redemption price of $25 per share plus accrued and unpaid dividends up to the redemption date. The current articles of incorporation of IPL contain a provision that grants the holders of its cumulative preferred stock voting rights to elect two members of IPL’s Board of Directors if preferred dividends equal to six or more quarterly dividend requirements (whether or not consecutive) are in arrears. Such voting rights would not provide the holders of IPL’s preferred stock control of the Board of Directors and could not force IPL to redeem its preferred stock.

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- Definition The entire disclosure for terms, amounts, nature of changes, rights and privileges, dividends, and other matters related to preferred stock. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -URI http://asc.fasb.org/topic&trid=2208762 + Details
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