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Benefit Plans | 6 Months Ended
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Jun. 30, 2024
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 six months ended June 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 |  | Six Months |  | Three Months |  | Six Months
Alliant Energy | 2024 |  | 2023 |  | 2024 |  | 2023 |  | 2024 |  | 2023 |  | 2024 |  | 2023
Service cost | $1 |  | $1 |  | $2 |  | $2 |  | $1 |  | $— |  | $1 |  | $1
Interest cost | 11 |  | 12 |  | 22 |  | 23 |  | 2 |  | 2 |  | 4 |  | 4
Expected return on plan assets | (14) |  | (13) |  | (27) |  | (26) |  | (1) |  | (1) |  | (2) |  | (2)
Amortization of actuarial loss | 6 |  | 7 |  | 12 |  | 14 |  | — |  | 1 |  | — |  | 1
| $4 |  | $7 |  | $9 |  | $13 |  | $2 |  | $2 |  | $3 |  | $4
| Defined Benefit Pension Plans |  | OPEB Plans
| Three Months |  | Six Months |  | Three Months |  | Six Months
IPL | 2024 |  | 2023 |  | 2024 |  | 2023 |  | 2024 |  | 2023 |  | 2024 |  | 2023
Service cost | $— |  | $1 |  | $1 |  | $2 |  | $— |  | $— |  | $— |  | $—
Interest cost | 5 |  | 5 |  | 10 |  | 10 |  | 1 |  | 1 |  | 2 |  | 2
Expected return on plan assets | (6) |  | (6) |  | (13) |  | (13) |  | (1) |  | (1) |  | (2) |  | (2)
Amortization of actuarial loss | 3 |  | 3 |  | 5 |  | 6 |  | — |  | 1 |  | — |  | 1
| $2 |  | $3 |  | $3 |  | $5 |  | $— |  | $1 |  | $— |  | $1
| Defined Benefit Pension Plans |  | OPEB Plans
| Three Months |  | Six Months |  | Three Months |  | Six Months
WPL | 2024 |  | 2023 |  | 2024 |  | 2023 |  | 2024 |  | 2023 |  | 2024 |  | 2023
Service cost | $1 |  | $1 |  | $1 |  | $1 |  | $— |  | $— |  | $— |  | $—
Interest cost | 5 |  | 5 |  | 10 |  | 10 |  | 1 |  | 1 |  | 2 |  | 2
Expected return on plan assets | (6) |  | (6) |  | (12) |  | (11) |  | — |  | — |  | — |  | —
Amortization of actuarial loss | 3 |  | 4 |  | 6 |  | 7 |  | — |  | — |  | — |  | —
| $3 |  | $4 |  | $5 |  | $7 |  | $1 |  | $1 |  | $2 |  | $2
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 six months ended June 30 was as follows (in millions):
| Alliant Energy |  | IPL |  | WPL
| Three Months |  | Six Months |  | Three Months |  | Six Months |  | Three Months |  | Six Months
| 2024 |  | 2023 |  | 2024 |  | 2023 |  | 2024 |  | 2023 |  | 2024 |  | 2023 |  | 2024 |  | 2023 |  | 2024 |  | 2023
Compensation expense | $3 |  | $3 |  | $7 |  | $6 |  | $2 |  | $2 |  | $4 |  | $3 |  | $1 |  | $1 |  | $3 |  | $2
Income tax benefits | 1 |  | 1 |  | 2 |  | 2 |  | — |  | — |  | 1 |  | 1 |  | — |  | — |  | 1 |  | 1
As of June 30, 2024, Alliant Energy’s, IPL’s and WPL’s total unrecognized compensation cost related to share-based compensation awards was $19 million, $9 million and $8 million, respectively, which is expected to be recognized over a weighted average period of between 1 year and 2 years. For the six months ended June 30, 2024, performance shares and restricted stock units were granted to key employees under the equity-based compensation 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 (total shareowner return metric) | 127,267 |  | $46.04
Performance shares (net income and diversity metrics) (formerly granted as performance restricted stock units) | 145,449 |  | 48.49
Restricted stock units | 128,620 |  | 48.57
As of June 30, 2024, 234,773 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 six months ended June 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 |  | Six Months |  | Three Months |  | Six Months
Alliant Energy | 2024 |  | 2023 |  | 2024 |  | 2023 |  | 2024 |  | 2023 |  | 2024 |  | 2023
Service cost | $1 |  | $1 |  | $2 |  | $2 |  | $1 |  | $— |  | $1 |  | $1
Interest cost | 11 |  | 12 |  | 22 |  | 23 |  | 2 |  | 2 |  | 4 |  | 4
Expected return on plan assets | (14) |  | (13) |  | (27) |  | (26) |  | (1) |  | (1) |  | (2) |  | (2)
Amortization of actuarial loss | 6 |  | 7 |  | 12 |  | 14 |  | — |  | 1 |  | — |  | 1
| $4 |  | $7 |  | $9 |  | $13 |  | $2 |  | $2 |  | $3 |  | $4
| Defined Benefit Pension Plans |  | OPEB Plans
| Three Months |  | Six Months |  | Three Months |  | Six Months
IPL | 2024 |  | 2023 |  | 2024 |  | 2023 |  | 2024 |  | 2023 |  | 2024 |  | 2023
Service cost | $— |  | $1 |  | $1 |  | $2 |  | $— |  | $— |  | $— |  | $—
Interest cost | 5 |  | 5 |  | 10 |  | 10 |  | 1 |  | 1 |  | 2 |  | 2
Expected return on plan assets | (6) |  | (6) |  | (13) |  | (13) |  | (1) |  | (1) |  | (2) |  | (2)
Amortization of actuarial loss | 3 |  | 3 |  | 5 |  | 6 |  | — |  | 1 |  | — |  | 1
| $2 |  | $3 |  | $3 |  | $5 |  | $— |  | $1 |  | $— |  | $1
| Defined Benefit Pension Plans |  | OPEB Plans
| Three Months |  | Six Months |  | Three Months |  | Six Months
WPL | 2024 |  | 2023 |  | 2024 |  | 2023 |  | 2024 |  | 2023 |  | 2024 |  | 2023
Service cost | $1 |  | $1 |  | $1 |  | $1 |  | $— |  | $— |  | $— |  | $—
Interest cost | 5 |  | 5 |  | 10 |  | 10 |  | 1 |  | 1 |  | 2 |  | 2
Expected return on plan assets | (6) |  | (6) |  | (12) |  | (11) |  | — |  | — |  | — |  | —
Amortization of actuarial loss | 3 |  | 4 |  | 6 |  | 7 |  | — |  | — |  | — |  | —
| $3 |  | $4 |  | $5 |  | $7 |  | $1 |  | $1 |  | $2 |  | $2
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 six months ended June 30 was as follows (in millions):
| Alliant Energy |  | IPL |  | WPL
| Three Months |  | Six Months |  | Three Months |  | Six Months |  | Three Months |  | Six Months
| 2024 |  | 2023 |  | 2024 |  | 2023 |  | 2024 |  | 2023 |  | 2024 |  | 2023 |  | 2024 |  | 2023 |  | 2024 |  | 2023
Compensation expense | $3 |  | $3 |  | $7 |  | $6 |  | $2 |  | $2 |  | $4 |  | $3 |  | $1 |  | $1 |  | $3 |  | $2
Income tax benefits | 1 |  | 1 |  | 2 |  | 2 |  | — |  | — |  | 1 |  | 1 |  | — |  | — |  | 1 |  | 1
As of June 30, 2024, Alliant Energy’s, IPL’s and WPL’s total unrecognized compensation cost related to share-based compensation awards was $19 million, $9 million and $8 million, respectively, which is expected to be recognized over a weighted average period of between 1 year and 2 years. For the six months ended June 30, 2024, performance shares and restricted stock units were granted to key employees under the equity-based compensation 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 (total shareowner return metric) | 127,267 |  | $46.04
Performance shares (net income and diversity metrics) (formerly granted as performance restricted stock units) | 145,449 |  | 48.49
Restricted stock units | 128,620 |  | 48.57
As of June 30, 2024, 234,773 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 six months ended June 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 |  | Six Months |  | Three Months |  | Six Months
Alliant Energy | 2024 |  | 2023 |  | 2024 |  | 2023 |  | 2024 |  | 2023 |  | 2024 |  | 2023
Service cost | $1 |  | $1 |  | $2 |  | $2 |  | $1 |  | $— |  | $1 |  | $1
Interest cost | 11 |  | 12 |  | 22 |  | 23 |  | 2 |  | 2 |  | 4 |  | 4
Expected return on plan assets | (14) |  | (13) |  | (27) |  | (26) |  | (1) |  | (1) |  | (2) |  | (2)
Amortization of actuarial loss | 6 |  | 7 |  | 12 |  | 14 |  | — |  | 1 |  | — |  | 1
| $4 |  | $7 |  | $9 |  | $13 |  | $2 |  | $2 |  | $3 |  | $4
| Defined Benefit Pension Plans |  | OPEB Plans
| Three Months |  | Six Months |  | Three Months |  | Six Months
IPL | 2024 |  | 2023 |  | 2024 |  | 2023 |  | 2024 |  | 2023 |  | 2024 |  | 2023
Service cost | $— |  | $1 |  | $1 |  | $2 |  | $— |  | $— |  | $— |  | $—
Interest cost | 5 |  | 5 |  | 10 |  | 10 |  | 1 |  | 1 |  | 2 |  | 2
Expected return on plan assets | (6) |  | (6) |  | (13) |  | (13) |  | (1) |  | (1) |  | (2) |  | (2)
Amortization of actuarial loss | 3 |  | 3 |  | 5 |  | 6 |  | — |  | 1 |  | — |  | 1
| $2 |  | $3 |  | $3 |  | $5 |  | $— |  | $1 |  | $— |  | $1
| Defined Benefit Pension Plans |  | OPEB Plans
| Three Months |  | Six Months |  | Three Months |  | Six Months
WPL | 2024 |  | 2023 |  | 2024 |  | 2023 |  | 2024 |  | 2023 |  | 2024 |  | 2023
Service cost | $1 |  | $1 |  | $1 |  | $1 |  | $— |  | $— |  | $— |  | $—
Interest cost | 5 |  | 5 |  | 10 |  | 10 |  | 1 |  | 1 |  | 2 |  | 2
Expected return on plan assets | (6) |  | (6) |  | (12) |  | (11) |  | — |  | — |  | — |  | —
Amortization of actuarial loss | 3 |  | 4 |  | 6 |  | 7 |  | — |  | — |  | — |  | —
| $3 |  | $4 |  | $5 |  | $7 |  | $1 |  | $1 |  | $2 |  | $2
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 six months ended June 30 was as follows (in millions):
| Alliant Energy |  | IPL |  | WPL
| Three Months |  | Six Months |  | Three Months |  | Six Months |  | Three Months |  | Six Months
| 2024 |  | 2023 |  | 2024 |  | 2023 |  | 2024 |  | 2023 |  | 2024 |  | 2023 |  | 2024 |  | 2023 |  | 2024 |  | 2023
Compensation expense | $3 |  | $3 |  | $7 |  | $6 |  | $2 |  | $2 |  | $4 |  | $3 |  | $1 |  | $1 |  | $3 |  | $2
Income tax benefits | 1 |  | 1 |  | 2 |  | 2 |  | — |  | — |  | 1 |  | 1 |  | — |  | — |  | 1 |  | 1
As of June 30, 2024, Alliant Energy’s, IPL’s and WPL’s total unrecognized compensation cost related to share-based compensation awards was $19 million, $9 million and $8 million, respectively, which is expected to be recognized over a weighted average period of between 1 year and 2 years. For the six months ended June 30, 2024, performance shares and restricted stock units were granted to key employees under the equity-based compensation 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 (total shareowner return metric) | 127,267 |  | $46.04
Performance shares (net income and diversity metrics) (formerly granted as performance restricted stock units) | 145,449 |  | 48.49
Restricted stock units | 128,620 |  | 48.57
As of June 30, 2024, 234,773 shares were included in the calculation of diluted EPS related to the nonvested equity awards.

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