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Leases | 12 Months Ended
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Dec. 31, 2024
Leases [Line Items] |
Operating Leases | LEASES Operating Leases - Alliant Energy’s, IPL’s and WPL’s operating leases primarily include leases of space on telecommunication towers and leases of property. Operating lease details are as follows (dollars in millions):
| December 31, 2024 |  | December 31, 2023
| Alliant Energy |  | IPL |  | WPL |  | Alliant Energy |  | IPL |  | WPL
Property, plant and equipment, net | $22 |  | $12 |  | $9 |  | $23 |  | $13 |  | $9
Other current liabilities | $2 |  | $1 |  | $1 |  | $2 |  | $1 |  | $1
Other liabilities | 20 |  | 11 |  | 8 |  | 21 |  | 12 |  | 8
Total operating lease liabilities | $22 |  | $12 |  | $9 |  | $23 |  | $13 |  | $9
Weighted average remaining lease term | 11 years |  | 11 years |  | 12 years |  | 12 years |  | 12 years |  | 12 years
Weighted average discount rate | 4% |  | 4% |  | 4% |  | 4% |  | 4% |  | 4%
Finance Leases - WPL is currently leasing the Sheboygan Falls Energy Facility from AEF’s Non-utility Generation business. WPL is responsible for the operation of the EGU and has exclusive rights to its output. In 2024, WPL renewed this financing lease through 2044. There are no lease renewal periods remaining. For Alliant Energy, the leased Sheboygan Falls Energy Facility is eliminated upon consolidation and therefore is not reflected in Alliant Energy’s amounts below. Related to their investments in solar generation, IPL and WPL entered into various land lease agreements with unaffiliated parties that have commenced. The leases have various terms with optional renewal periods that are assumed to be extended through the end of the estimated useful lives of the solar generating facilities. The leases do not contain purchase options and are fixed lease payments. Finance lease details are as follows (dollars in millions):
| December 31, 2024 |  | December 31, 2023
| Alliant Energy |  | IPL |  | WPL |  | Alliant Energy |  | IPL |  | WPL
Property, plant and equipment, net: |  |  |  |  |  |  |  |  |  |  |
Sheboygan Falls Energy Facility | N/A |  | N/A |  | $74 |  | N/A |  | N/A |  | $79
Leased land for solar generation | $189 |  | $53 |  | 136 |  | $172 |  | $33 |  | 139
| $189 |  | $53 |  | $210 |  | $172 |  | $33 |  | $218
Other current liabilities: |  |  |  |  |  |  |  |  |  |  |
Sheboygan Falls Energy Facility | N/A |  | N/A |  | $7 |  | N/A |  | N/A |  | $11
Leased land for solar generation | $— |  | $— |  | — |  | $— |  | $— |  | —
| — |  | — |  | 7 |  | — |  | — |  | 11
Other liabilities: |  |  |  |  |  |  |  |  |  |  |
Sheboygan Falls Energy Facility | N/A |  | N/A |  | 71 |  | N/A |  | N/A |  | 78
Leased land for solar generation | 189 |  | 53 |  | 136 |  | 172 |  | 33 |  | 139
| 189 |  | 53 |  | 207 |  | 172 |  | 33 |  | 217
Total finance lease liabilities | $189 |  | $53 |  | $214 |  | $172 |  | $33 |  | $228
Weighted average remaining lease term | 31 years |  | 28 years |  | 28 years |  | 33 years |  | 29 years |  | 27 years
Weighted average discount rate | 5% |  | 5% |  | 5% |  | 5% |  | 5% |  | 5%
| Alliant Energy |  | IPL |  | WPL
| 2024 |  | 2023 |  | 2022 |  | 2024 |  | 2023 |  | 2022 |  | 2024 |  | 2023 |  | 2022
Depreciation and amortization expenses | $— |  |  | $1 |  |  | $— |  |  | $— |  |  | $— |  |  | $— |  |  | $4 |  |  | $6 |  |  | $6 |
Interest expense | 8 |  |  | 6 |  |  | 3 |  |  | 2 |  |  | 1 |  |  | — |  |  | 10 |  |  | 8 |  |  | 7 |
Total finance lease expense | $8 |  |  | $7 |  |  | $3 |  |  | $2 |  |  | $1 |  |  | $— |  |  | $14 |  |  | $14 |  |  | $13 |
Finance lease liabilities arising from obtaining leased assets, which represent non-cash financing activities, were as follows (in millions):
| Alliant Energy |  | IPL |  | WPL
| 2024 |  | 2023 |  |  |  | 2024 |  | 2023 |  |  |  | 2024 |  | 2023 |  |
Finance lease liabilities arising from obtaining leased assets | $20 |  |  | $34 |  |  |  |  | $20 |  |  | $33 |  |  |  |  | $— |  |  | $71 |  |  |
Expected Maturities - As of December 31, 2024, expected maturities of lease liabilities were as follows (in millions):
| 2025 |  | 2026 |  | 2027 |  | 2028 |  | 2029 |  | Thereafter |  | Total |  | Less: amount representing interest |  | Present value of minimum lease payments
Operating Leases: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Alliant Energy | $3 |  |  | $3 |  |  | $3 |  |  | $3 |  |  | $2 |  |  | $14 |  | $28 |  | $6 |  | $22
IPL | 2 |  |  | 2 |  |  | 1 |  |  | 1 |  |  | 1 |  |  | 8 |  | 15 |  | 3 |  | 12
WPL | 1 |  |  | 1 |  |  | 1 |  |  | 1 |  |  | 1 |  |  | 7 |  | 12 |  | 3 |  | 9
Finance Leases: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Alliant Energy | 9 |  |  | 9 |  |  | 9 |  |  | 10 |  |  | 10 |  |  | 337 |  | 384 |  | 195 |  | 189
IPL | 3 |  |  | 3 |  |  | 3 |  |  | 3 |  |  | 3 |  |  | 92 |  | 107 |  | 54 |  | 53
WPL | 17 |  |  | 13 |  |  | 13 |  |  | 13 |  |  | 13 |  |  | 324 |  | 393 |  | 179 |  | 214
Finance Leases | LEASES Operating Leases - Alliant Energy’s, IPL’s and WPL’s operating leases primarily include leases of space on telecommunication towers and leases of property. Operating lease details are as follows (dollars in millions):
| December 31, 2024 |  | December 31, 2023
| Alliant Energy |  | IPL |  | WPL |  | Alliant Energy |  | IPL |  | WPL
Property, plant and equipment, net | $22 |  | $12 |  | $9 |  | $23 |  | $13 |  | $9
Other current liabilities | $2 |  | $1 |  | $1 |  | $2 |  | $1 |  | $1
Other liabilities | 20 |  | 11 |  | 8 |  | 21 |  | 12 |  | 8
Total operating lease liabilities | $22 |  | $12 |  | $9 |  | $23 |  | $13 |  | $9
Weighted average remaining lease term | 11 years |  | 11 years |  | 12 years |  | 12 years |  | 12 years |  | 12 years
Weighted average discount rate | 4% |  | 4% |  | 4% |  | 4% |  | 4% |  | 4%
Finance Leases - WPL is currently leasing the Sheboygan Falls Energy Facility from AEF’s Non-utility Generation business. WPL is responsible for the operation of the EGU and has exclusive rights to its output. In 2024, WPL renewed this financing lease through 2044. There are no lease renewal periods remaining. For Alliant Energy, the leased Sheboygan Falls Energy Facility is eliminated upon consolidation and therefore is not reflected in Alliant Energy’s amounts below. Related to their investments in solar generation, IPL and WPL entered into various land lease agreements with unaffiliated parties that have commenced. The leases have various terms with optional renewal periods that are assumed to be extended through the end of the estimated useful lives of the solar generating facilities. The leases do not contain purchase options and are fixed lease payments. Finance lease details are as follows (dollars in millions):
| December 31, 2024 |  | December 31, 2023
| Alliant Energy |  | IPL |  | WPL |  | Alliant Energy |  | IPL |  | WPL
Property, plant and equipment, net: |  |  |  |  |  |  |  |  |  |  |
Sheboygan Falls Energy Facility | N/A |  | N/A |  | $74 |  | N/A |  | N/A |  | $79
Leased land for solar generation | $189 |  | $53 |  | 136 |  | $172 |  | $33 |  | 139
| $189 |  | $53 |  | $210 |  | $172 |  | $33 |  | $218
Other current liabilities: |  |  |  |  |  |  |  |  |  |  |
Sheboygan Falls Energy Facility | N/A |  | N/A |  | $7 |  | N/A |  | N/A |  | $11
Leased land for solar generation | $— |  | $— |  | — |  | $— |  | $— |  | —
| — |  | — |  | 7 |  | — |  | — |  | 11
Other liabilities: |  |  |  |  |  |  |  |  |  |  |
Sheboygan Falls Energy Facility | N/A |  | N/A |  | 71 |  | N/A |  | N/A |  | 78
Leased land for solar generation | 189 |  | 53 |  | 136 |  | 172 |  | 33 |  | 139
| 189 |  | 53 |  | 207 |  | 172 |  | 33 |  | 217
Total finance lease liabilities | $189 |  | $53 |  | $214 |  | $172 |  | $33 |  | $228
Weighted average remaining lease term | 31 years |  | 28 years |  | 28 years |  | 33 years |  | 29 years |  | 27 years
Weighted average discount rate | 5% |  | 5% |  | 5% |  | 5% |  | 5% |  | 5%
| Alliant Energy |  | IPL |  | WPL
| 2024 |  | 2023 |  | 2022 |  | 2024 |  | 2023 |  | 2022 |  | 2024 |  | 2023 |  | 2022
Depreciation and amortization expenses | $— |  |  | $1 |  |  | $— |  |  | $— |  |  | $— |  |  | $— |  |  | $4 |  |  | $6 |  |  | $6 |
Interest expense | 8 |  |  | 6 |  |  | 3 |  |  | 2 |  |  | 1 |  |  | — |  |  | 10 |  |  | 8 |  |  | 7 |
Total finance lease expense | $8 |  |  | $7 |  |  | $3 |  |  | $2 |  |  | $1 |  |  | $— |  |  | $14 |  |  | $14 |  |  | $13 |
Finance lease liabilities arising from obtaining leased assets, which represent non-cash financing activities, were as follows (in millions):
| Alliant Energy |  | IPL |  | WPL
| 2024 |  | 2023 |  |  |  | 2024 |  | 2023 |  |  |  | 2024 |  | 2023 |  |
Finance lease liabilities arising from obtaining leased assets | $20 |  |  | $34 |  |  |  |  | $20 |  |  | $33 |  |  |  |  | $— |  |  | $71 |  |  |
Expected Maturities - As of December 31, 2024, expected maturities of lease liabilities were as follows (in millions):
| 2025 |  | 2026 |  | 2027 |  | 2028 |  | 2029 |  | Thereafter |  | Total |  | Less: amount representing interest |  | Present value of minimum lease payments
Operating Leases: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Alliant Energy | $3 |  |  | $3 |  |  | $3 |  |  | $3 |  |  | $2 |  |  | $14 |  | $28 |  | $6 |  | $22
IPL | 2 |  |  | 2 |  |  | 1 |  |  | 1 |  |  | 1 |  |  | 8 |  | 15 |  | 3 |  | 12
WPL | 1 |  |  | 1 |  |  | 1 |  |  | 1 |  |  | 1 |  |  | 7 |  | 12 |  | 3 |  | 9
Finance Leases: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Alliant Energy | 9 |  |  | 9 |  |  | 9 |  |  | 10 |  |  | 10 |  |  | 337 |  | 384 |  | 195 |  | 189
IPL | 3 |  |  | 3 |  |  | 3 |  |  | 3 |  |  | 3 |  |  | 92 |  | 107 |  | 54 |  | 53
WPL | 17 |  |  | 13 |  |  | 13 |  |  | 13 |  |  | 13 |  |  | 324 |  | 393 |  | 179 |  | 214
IPL [Member] |
Leases [Line Items] |
Operating Leases | LEASES Operating Leases - Alliant Energy’s, IPL’s and WPL’s operating leases primarily include leases of space on telecommunication towers and leases of property. Operating lease details are as follows (dollars in millions):
| December 31, 2024 |  | December 31, 2023
| Alliant Energy |  | IPL |  | WPL |  | Alliant Energy |  | IPL |  | WPL
Property, plant and equipment, net | $22 |  | $12 |  | $9 |  | $23 |  | $13 |  | $9
Other current liabilities | $2 |  | $1 |  | $1 |  | $2 |  | $1 |  | $1
Other liabilities | 20 |  | 11 |  | 8 |  | 21 |  | 12 |  | 8
Total operating lease liabilities | $22 |  | $12 |  | $9 |  | $23 |  | $13 |  | $9
Weighted average remaining lease term | 11 years |  | 11 years |  | 12 years |  | 12 years |  | 12 years |  | 12 years
Weighted average discount rate | 4% |  | 4% |  | 4% |  | 4% |  | 4% |  | 4%
Finance Leases - WPL is currently leasing the Sheboygan Falls Energy Facility from AEF’s Non-utility Generation business. WPL is responsible for the operation of the EGU and has exclusive rights to its output. In 2024, WPL renewed this financing lease through 2044. There are no lease renewal periods remaining. For Alliant Energy, the leased Sheboygan Falls Energy Facility is eliminated upon consolidation and therefore is not reflected in Alliant Energy’s amounts below. Related to their investments in solar generation, IPL and WPL entered into various land lease agreements with unaffiliated parties that have commenced. The leases have various terms with optional renewal periods that are assumed to be extended through the end of the estimated useful lives of the solar generating facilities. The leases do not contain purchase options and are fixed lease payments. Finance lease details are as follows (dollars in millions):
| December 31, 2024 |  | December 31, 2023
| Alliant Energy |  | IPL |  | WPL |  | Alliant Energy |  | IPL |  | WPL
Property, plant and equipment, net: |  |  |  |  |  |  |  |  |  |  |
Sheboygan Falls Energy Facility | N/A |  | N/A |  | $74 |  | N/A |  | N/A |  | $79
Leased land for solar generation | $189 |  | $53 |  | 136 |  | $172 |  | $33 |  | 139
| $189 |  | $53 |  | $210 |  | $172 |  | $33 |  | $218
Other current liabilities: |  |  |  |  |  |  |  |  |  |  |
Sheboygan Falls Energy Facility | N/A |  | N/A |  | $7 |  | N/A |  | N/A |  | $11
Leased land for solar generation | $— |  | $— |  | — |  | $— |  | $— |  | —
| — |  | — |  | 7 |  | — |  | — |  | 11
Other liabilities: |  |  |  |  |  |  |  |  |  |  |
Sheboygan Falls Energy Facility | N/A |  | N/A |  | 71 |  | N/A |  | N/A |  | 78
Leased land for solar generation | 189 |  | 53 |  | 136 |  | 172 |  | 33 |  | 139
| 189 |  | 53 |  | 207 |  | 172 |  | 33 |  | 217
Total finance lease liabilities | $189 |  | $53 |  | $214 |  | $172 |  | $33 |  | $228
Weighted average remaining lease term | 31 years |  | 28 years |  | 28 years |  | 33 years |  | 29 years |  | 27 years
Weighted average discount rate | 5% |  | 5% |  | 5% |  | 5% |  | 5% |  | 5%
| Alliant Energy |  | IPL |  | WPL
| 2024 |  | 2023 |  | 2022 |  | 2024 |  | 2023 |  | 2022 |  | 2024 |  | 2023 |  | 2022
Depreciation and amortization expenses | $— |  |  | $1 |  |  | $— |  |  | $— |  |  | $— |  |  | $— |  |  | $4 |  |  | $6 |  |  | $6 |
Interest expense | 8 |  |  | 6 |  |  | 3 |  |  | 2 |  |  | 1 |  |  | — |  |  | 10 |  |  | 8 |  |  | 7 |
Total finance lease expense | $8 |  |  | $7 |  |  | $3 |  |  | $2 |  |  | $1 |  |  | $— |  |  | $14 |  |  | $14 |  |  | $13 |
Finance lease liabilities arising from obtaining leased assets, which represent non-cash financing activities, were as follows (in millions):
| Alliant Energy |  | IPL |  | WPL
| 2024 |  | 2023 |  |  |  | 2024 |  | 2023 |  |  |  | 2024 |  | 2023 |  |
Finance lease liabilities arising from obtaining leased assets | $20 |  |  | $34 |  |  |  |  | $20 |  |  | $33 |  |  |  |  | $— |  |  | $71 |  |  |
Expected Maturities - As of December 31, 2024, expected maturities of lease liabilities were as follows (in millions):
| 2025 |  | 2026 |  | 2027 |  | 2028 |  | 2029 |  | Thereafter |  | Total |  | Less: amount representing interest |  | Present value of minimum lease payments
Operating Leases: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Alliant Energy | $3 |  |  | $3 |  |  | $3 |  |  | $3 |  |  | $2 |  |  | $14 |  | $28 |  | $6 |  | $22
IPL | 2 |  |  | 2 |  |  | 1 |  |  | 1 |  |  | 1 |  |  | 8 |  | 15 |  | 3 |  | 12
WPL | 1 |  |  | 1 |  |  | 1 |  |  | 1 |  |  | 1 |  |  | 7 |  | 12 |  | 3 |  | 9
Finance Leases: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Alliant Energy | 9 |  |  | 9 |  |  | 9 |  |  | 10 |  |  | 10 |  |  | 337 |  | 384 |  | 195 |  | 189
IPL | 3 |  |  | 3 |  |  | 3 |  |  | 3 |  |  | 3 |  |  | 92 |  | 107 |  | 54 |  | 53
WPL | 17 |  |  | 13 |  |  | 13 |  |  | 13 |  |  | 13 |  |  | 324 |  | 393 |  | 179 |  | 214
Finance Leases | LEASES Operating Leases - Alliant Energy’s, IPL’s and WPL’s operating leases primarily include leases of space on telecommunication towers and leases of property. Operating lease details are as follows (dollars in millions):
| December 31, 2024 |  | December 31, 2023
| Alliant Energy |  | IPL |  | WPL |  | Alliant Energy |  | IPL |  | WPL
Property, plant and equipment, net | $22 |  | $12 |  | $9 |  | $23 |  | $13 |  | $9
Other current liabilities | $2 |  | $1 |  | $1 |  | $2 |  | $1 |  | $1
Other liabilities | 20 |  | 11 |  | 8 |  | 21 |  | 12 |  | 8
Total operating lease liabilities | $22 |  | $12 |  | $9 |  | $23 |  | $13 |  | $9
Weighted average remaining lease term | 11 years |  | 11 years |  | 12 years |  | 12 years |  | 12 years |  | 12 years
Weighted average discount rate | 4% |  | 4% |  | 4% |  | 4% |  | 4% |  | 4%
Finance Leases - WPL is currently leasing the Sheboygan Falls Energy Facility from AEF’s Non-utility Generation business. WPL is responsible for the operation of the EGU and has exclusive rights to its output. In 2024, WPL renewed this financing lease through 2044. There are no lease renewal periods remaining. For Alliant Energy, the leased Sheboygan Falls Energy Facility is eliminated upon consolidation and therefore is not reflected in Alliant Energy’s amounts below. Related to their investments in solar generation, IPL and WPL entered into various land lease agreements with unaffiliated parties that have commenced. The leases have various terms with optional renewal periods that are assumed to be extended through the end of the estimated useful lives of the solar generating facilities. The leases do not contain purchase options and are fixed lease payments. Finance lease details are as follows (dollars in millions):
| December 31, 2024 |  | December 31, 2023
| Alliant Energy |  | IPL |  | WPL |  | Alliant Energy |  | IPL |  | WPL
Property, plant and equipment, net: |  |  |  |  |  |  |  |  |  |  |
Sheboygan Falls Energy Facility | N/A |  | N/A |  | $74 |  | N/A |  | N/A |  | $79
Leased land for solar generation | $189 |  | $53 |  | 136 |  | $172 |  | $33 |  | 139
| $189 |  | $53 |  | $210 |  | $172 |  | $33 |  | $218
Other current liabilities: |  |  |  |  |  |  |  |  |  |  |
Sheboygan Falls Energy Facility | N/A |  | N/A |  | $7 |  | N/A |  | N/A |  | $11
Leased land for solar generation | $— |  | $— |  | — |  | $— |  | $— |  | —
| — |  | — |  | 7 |  | — |  | — |  | 11
Other liabilities: |  |  |  |  |  |  |  |  |  |  |
Sheboygan Falls Energy Facility | N/A |  | N/A |  | 71 |  | N/A |  | N/A |  | 78
Leased land for solar generation | 189 |  | 53 |  | 136 |  | 172 |  | 33 |  | 139
| 189 |  | 53 |  | 207 |  | 172 |  | 33 |  | 217
Total finance lease liabilities | $189 |  | $53 |  | $214 |  | $172 |  | $33 |  | $228
Weighted average remaining lease term | 31 years |  | 28 years |  | 28 years |  | 33 years |  | 29 years |  | 27 years
Weighted average discount rate | 5% |  | 5% |  | 5% |  | 5% |  | 5% |  | 5%
| Alliant Energy |  | IPL |  | WPL
| 2024 |  | 2023 |  | 2022 |  | 2024 |  | 2023 |  | 2022 |  | 2024 |  | 2023 |  | 2022
Depreciation and amortization expenses | $— |  |  | $1 |  |  | $— |  |  | $— |  |  | $— |  |  | $— |  |  | $4 |  |  | $6 |  |  | $6 |
Interest expense | 8 |  |  | 6 |  |  | 3 |  |  | 2 |  |  | 1 |  |  | — |  |  | 10 |  |  | 8 |  |  | 7 |
Total finance lease expense | $8 |  |  | $7 |  |  | $3 |  |  | $2 |  |  | $1 |  |  | $— |  |  | $14 |  |  | $14 |  |  | $13 |
Finance lease liabilities arising from obtaining leased assets, which represent non-cash financing activities, were as follows (in millions):
| Alliant Energy |  | IPL |  | WPL
| 2024 |  | 2023 |  |  |  | 2024 |  | 2023 |  |  |  | 2024 |  | 2023 |  |
Finance lease liabilities arising from obtaining leased assets | $20 |  |  | $34 |  |  |  |  | $20 |  |  | $33 |  |  |  |  | $— |  |  | $71 |  |  |
Expected Maturities - As of December 31, 2024, expected maturities of lease liabilities were as follows (in millions):
| 2025 |  | 2026 |  | 2027 |  | 2028 |  | 2029 |  | Thereafter |  | Total |  | Less: amount representing interest |  | Present value of minimum lease payments
Operating Leases: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Alliant Energy | $3 |  |  | $3 |  |  | $3 |  |  | $3 |  |  | $2 |  |  | $14 |  | $28 |  | $6 |  | $22
IPL | 2 |  |  | 2 |  |  | 1 |  |  | 1 |  |  | 1 |  |  | 8 |  | 15 |  | 3 |  | 12
WPL | 1 |  |  | 1 |  |  | 1 |  |  | 1 |  |  | 1 |  |  | 7 |  | 12 |  | 3 |  | 9
Finance Leases: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Alliant Energy | 9 |  |  | 9 |  |  | 9 |  |  | 10 |  |  | 10 |  |  | 337 |  | 384 |  | 195 |  | 189
IPL | 3 |  |  | 3 |  |  | 3 |  |  | 3 |  |  | 3 |  |  | 92 |  | 107 |  | 54 |  | 53
WPL | 17 |  |  | 13 |  |  | 13 |  |  | 13 |  |  | 13 |  |  | 324 |  | 393 |  | 179 |  | 214
WPL [Member] |
Leases [Line Items] |
Operating Leases | LEASES Operating Leases - Alliant Energy’s, IPL’s and WPL’s operating leases primarily include leases of space on telecommunication towers and leases of property. Operating lease details are as follows (dollars in millions):
| December 31, 2024 |  | December 31, 2023
| Alliant Energy |  | IPL |  | WPL |  | Alliant Energy |  | IPL |  | WPL
Property, plant and equipment, net | $22 |  | $12 |  | $9 |  | $23 |  | $13 |  | $9
Other current liabilities | $2 |  | $1 |  | $1 |  | $2 |  | $1 |  | $1
Other liabilities | 20 |  | 11 |  | 8 |  | 21 |  | 12 |  | 8
Total operating lease liabilities | $22 |  | $12 |  | $9 |  | $23 |  | $13 |  | $9
Weighted average remaining lease term | 11 years |  | 11 years |  | 12 years |  | 12 years |  | 12 years |  | 12 years
Weighted average discount rate | 4% |  | 4% |  | 4% |  | 4% |  | 4% |  | 4%
Finance Leases - WPL is currently leasing the Sheboygan Falls Energy Facility from AEF’s Non-utility Generation business. WPL is responsible for the operation of the EGU and has exclusive rights to its output. In 2024, WPL renewed this financing lease through 2044. There are no lease renewal periods remaining. For Alliant Energy, the leased Sheboygan Falls Energy Facility is eliminated upon consolidation and therefore is not reflected in Alliant Energy’s amounts below. Related to their investments in solar generation, IPL and WPL entered into various land lease agreements with unaffiliated parties that have commenced. The leases have various terms with optional renewal periods that are assumed to be extended through the end of the estimated useful lives of the solar generating facilities. The leases do not contain purchase options and are fixed lease payments. Finance lease details are as follows (dollars in millions):
| December 31, 2024 |  | December 31, 2023
| Alliant Energy |  | IPL |  | WPL |  | Alliant Energy |  | IPL |  | WPL
Property, plant and equipment, net: |  |  |  |  |  |  |  |  |  |  |
Sheboygan Falls Energy Facility | N/A |  | N/A |  | $74 |  | N/A |  | N/A |  | $79
Leased land for solar generation | $189 |  | $53 |  | 136 |  | $172 |  | $33 |  | 139
| $189 |  | $53 |  | $210 |  | $172 |  | $33 |  | $218
Other current liabilities: |  |  |  |  |  |  |  |  |  |  |
Sheboygan Falls Energy Facility | N/A |  | N/A |  | $7 |  | N/A |  | N/A |  | $11
Leased land for solar generation | $— |  | $— |  | — |  | $— |  | $— |  | —
| — |  | — |  | 7 |  | — |  | — |  | 11
Other liabilities: |  |  |  |  |  |  |  |  |  |  |
Sheboygan Falls Energy Facility | N/A |  | N/A |  | 71 |  | N/A |  | N/A |  | 78
Leased land for solar generation | 189 |  | 53 |  | 136 |  | 172 |  | 33 |  | 139
| 189 |  | 53 |  | 207 |  | 172 |  | 33 |  | 217
Total finance lease liabilities | $189 |  | $53 |  | $214 |  | $172 |  | $33 |  | $228
Weighted average remaining lease term | 31 years |  | 28 years |  | 28 years |  | 33 years |  | 29 years |  | 27 years
Weighted average discount rate | 5% |  | 5% |  | 5% |  | 5% |  | 5% |  | 5%
| Alliant Energy |  | IPL |  | WPL
| 2024 |  | 2023 |  | 2022 |  | 2024 |  | 2023 |  | 2022 |  | 2024 |  | 2023 |  | 2022
Depreciation and amortization expenses | $— |  |  | $1 |  |  | $— |  |  | $— |  |  | $— |  |  | $— |  |  | $4 |  |  | $6 |  |  | $6 |
Interest expense | 8 |  |  | 6 |  |  | 3 |  |  | 2 |  |  | 1 |  |  | — |  |  | 10 |  |  | 8 |  |  | 7 |
Total finance lease expense | $8 |  |  | $7 |  |  | $3 |  |  | $2 |  |  | $1 |  |  | $— |  |  | $14 |  |  | $14 |  |  | $13 |
Finance lease liabilities arising from obtaining leased assets, which represent non-cash financing activities, were as follows (in millions):
| Alliant Energy |  | IPL |  | WPL
| 2024 |  | 2023 |  |  |  | 2024 |  | 2023 |  |  |  | 2024 |  | 2023 |  |
Finance lease liabilities arising from obtaining leased assets | $20 |  |  | $34 |  |  |  |  | $20 |  |  | $33 |  |  |  |  | $— |  |  | $71 |  |  |
Expected Maturities - As of December 31, 2024, expected maturities of lease liabilities were as follows (in millions):
| 2025 |  | 2026 |  | 2027 |  | 2028 |  | 2029 |  | Thereafter |  | Total |  | Less: amount representing interest |  | Present value of minimum lease payments
Operating Leases: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Alliant Energy | $3 |  |  | $3 |  |  | $3 |  |  | $3 |  |  | $2 |  |  | $14 |  | $28 |  | $6 |  | $22
IPL | 2 |  |  | 2 |  |  | 1 |  |  | 1 |  |  | 1 |  |  | 8 |  | 15 |  | 3 |  | 12
WPL | 1 |  |  | 1 |  |  | 1 |  |  | 1 |  |  | 1 |  |  | 7 |  | 12 |  | 3 |  | 9
Finance Leases: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Alliant Energy | 9 |  |  | 9 |  |  | 9 |  |  | 10 |  |  | 10 |  |  | 337 |  | 384 |  | 195 |  | 189
IPL | 3 |  |  | 3 |  |  | 3 |  |  | 3 |  |  | 3 |  |  | 92 |  | 107 |  | 54 |  | 53
WPL | 17 |  |  | 13 |  |  | 13 |  |  | 13 |  |  | 13 |  |  | 324 |  | 393 |  | 179 |  | 214
Finance Leases | LEASES Operating Leases - Alliant Energy’s, IPL’s and WPL’s operating leases primarily include leases of space on telecommunication towers and leases of property. Operating lease details are as follows (dollars in millions):
| December 31, 2024 |  | December 31, 2023
| Alliant Energy |  | IPL |  | WPL |  | Alliant Energy |  | IPL |  | WPL
Property, plant and equipment, net | $22 |  | $12 |  | $9 |  | $23 |  | $13 |  | $9
Other current liabilities | $2 |  | $1 |  | $1 |  | $2 |  | $1 |  | $1
Other liabilities | 20 |  | 11 |  | 8 |  | 21 |  | 12 |  | 8
Total operating lease liabilities | $22 |  | $12 |  | $9 |  | $23 |  | $13 |  | $9
Weighted average remaining lease term | 11 years |  | 11 years |  | 12 years |  | 12 years |  | 12 years |  | 12 years
Weighted average discount rate | 4% |  | 4% |  | 4% |  | 4% |  | 4% |  | 4%
Finance Leases - WPL is currently leasing the Sheboygan Falls Energy Facility from AEF’s Non-utility Generation business. WPL is responsible for the operation of the EGU and has exclusive rights to its output. In 2024, WPL renewed this financing lease through 2044. There are no lease renewal periods remaining. For Alliant Energy, the leased Sheboygan Falls Energy Facility is eliminated upon consolidation and therefore is not reflected in Alliant Energy’s amounts below. Related to their investments in solar generation, IPL and WPL entered into various land lease agreements with unaffiliated parties that have commenced. The leases have various terms with optional renewal periods that are assumed to be extended through the end of the estimated useful lives of the solar generating facilities. The leases do not contain purchase options and are fixed lease payments. Finance lease details are as follows (dollars in millions):
| December 31, 2024 |  | December 31, 2023
| Alliant Energy |  | IPL |  | WPL |  | Alliant Energy |  | IPL |  | WPL
Property, plant and equipment, net: |  |  |  |  |  |  |  |  |  |  |
Sheboygan Falls Energy Facility | N/A |  | N/A |  | $74 |  | N/A |  | N/A |  | $79
Leased land for solar generation | $189 |  | $53 |  | 136 |  | $172 |  | $33 |  | 139
| $189 |  | $53 |  | $210 |  | $172 |  | $33 |  | $218
Other current liabilities: |  |  |  |  |  |  |  |  |  |  |
Sheboygan Falls Energy Facility | N/A |  | N/A |  | $7 |  | N/A |  | N/A |  | $11
Leased land for solar generation | $— |  | $— |  | — |  | $— |  | $— |  | —
| — |  | — |  | 7 |  | — |  | — |  | 11
Other liabilities: |  |  |  |  |  |  |  |  |  |  |
Sheboygan Falls Energy Facility | N/A |  | N/A |  | 71 |  | N/A |  | N/A |  | 78
Leased land for solar generation | 189 |  | 53 |  | 136 |  | 172 |  | 33 |  | 139
| 189 |  | 53 |  | 207 |  | 172 |  | 33 |  | 217
Total finance lease liabilities | $189 |  | $53 |  | $214 |  | $172 |  | $33 |  | $228
Weighted average remaining lease term | 31 years |  | 28 years |  | 28 years |  | 33 years |  | 29 years |  | 27 years
Weighted average discount rate | 5% |  | 5% |  | 5% |  | 5% |  | 5% |  | 5%
| Alliant Energy |  | IPL |  | WPL
| 2024 |  | 2023 |  | 2022 |  | 2024 |  | 2023 |  | 2022 |  | 2024 |  | 2023 |  | 2022
Depreciation and amortization expenses | $— |  |  | $1 |  |  | $— |  |  | $— |  |  | $— |  |  | $— |  |  | $4 |  |  | $6 |  |  | $6 |
Interest expense | 8 |  |  | 6 |  |  | 3 |  |  | 2 |  |  | 1 |  |  | — |  |  | 10 |  |  | 8 |  |  | 7 |
Total finance lease expense | $8 |  |  | $7 |  |  | $3 |  |  | $2 |  |  | $1 |  |  | $— |  |  | $14 |  |  | $14 |  |  | $13 |
Finance lease liabilities arising from obtaining leased assets, which represent non-cash financing activities, were as follows (in millions):
| Alliant Energy |  | IPL |  | WPL
| 2024 |  | 2023 |  |  |  | 2024 |  | 2023 |  |  |  | 2024 |  | 2023 |  |
Finance lease liabilities arising from obtaining leased assets | $20 |  |  | $34 |  |  |  |  | $20 |  |  | $33 |  |  |  |  | $— |  |  | $71 |  |  |
Expected Maturities - As of December 31, 2024, expected maturities of lease liabilities were as follows (in millions):
| 2025 |  | 2026 |  | 2027 |  | 2028 |  | 2029 |  | Thereafter |  | Total |  | Less: amount representing interest |  | Present value of minimum lease payments
Operating Leases: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Alliant Energy | $3 |  |  | $3 |  |  | $3 |  |  | $3 |  |  | $2 |  |  | $14 |  | $28 |  | $6 |  | $22
IPL | 2 |  |  | 2 |  |  | 1 |  |  | 1 |  |  | 1 |  |  | 8 |  | 15 |  | 3 |  | 12
WPL | 1 |  |  | 1 |  |  | 1 |  |  | 1 |  |  | 1 |  |  | 7 |  | 12 |  | 3 |  | 9
Finance Leases: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Alliant Energy | 9 |  |  | 9 |  |  | 9 |  |  | 10 |  |  | 10 |  |  | 337 |  | 384 |  | 195 |  | 189
IPL | 3 |  |  | 3 |  |  | 3 |  |  | 3 |  |  | 3 |  |  | 92 |  | 107 |  | 54 |  | 53
WPL | 17 |  |  | 13 |  |  | 13 |  |  | 13 |  |  | 13 |  |  | 324 |  | 393 |  | 179 |  | 214

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