Ipalco Enterprises 10-Q 11 May 15 2015 Q1 Quarterly report Financial data

Document_And_Entity_Informatio

Document And Entity Information	3 Months Ended
	Mar. 31, 2015	8-May-15
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	FALSE
Document Period End Date	31-Mar-15
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2015
Entity Registrant Name	IPALCO ENTERPRISES, INC.
Entity Central Index Key	728391
Current Fiscal Year End Date	-19
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding		101,504,105

Condensed_Consolidated_Stateme

Condensed Consolidated Statements Of Income (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Condensed Consolidated Statements Of Income [Abstract]
UTILITY OPERATING REVENUES	$332,201	$355,303
UTILITY OPERATING EXPENSES:
Fuel	85,432	104,098
Other operating expenses	54,976	62,119
Power purchased	42,576	37,748
Maintenance	31,282	31,973
Depreciation and amortization	46,445	46,055
Taxes other than income taxes	12,933	12,208
Income taxes - net	18,201	16,559
Total utility operating expenses	291,845	310,760
UTILITY OPERATING INCOME	40,356	44,543
OTHER INCOME AND (DEDUCTIONS):
Allowance for equity funds used during construction	3,218	1,613
Miscellaneous income and (deductions) - net	-626	-975
Income tax benefit applicable to nonoperating income	6,024	5,754
Total other income and (deductions) - net	8,616	6,392
INTEREST AND OTHER CHARGES:
Interest on long-term debt	27,646	26,440
Other interest	449	453
Allowance for borrowed funds used during construction	-2,666	-983
Amortization of redemption premiums and expense on debt	1,334	1,319
Total interest and other charges - net	26,763	27,229
NET INCOME	22,209	23,706
LESS: PREFERRED DIVIDENDS OF SUBSIDIARY	803	803
NET INCOME APPLICABLE TO COMMON STOCK	$21,406	$22,903

Condensed_Consolidated_Balance

Condensed Consolidated Balance Sheets (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
UTILITY PLANT:
Utility plant in service	$4,811,311	$4,658,023
Less accumulated depreciation	2,250,104	2,264,606
Utility plant in service - net	2,561,207	2,393,417
Construction work in progress	369,602	447,399
Spare parts inventory	14,629	14,816
Property held for future use	1,002	1,002
Utility plant - net	2,946,440	2,856,634
OTHER ASSETS:
Nonutility property - at cost, less accumulated depreciation	521	522
Other long-term assets	6,313	6,221
Other assets - net	6,834	6,743
CURRENT ASSETS:
Cash and cash equivalents	29,258	26,933
Accounts receivable and unbilled revenue (less allowance for doubtful accounts of $3,086 and $2,076, respectively)	138,861	139,709
Fuel inventories - at average cost	55,370	47,550
Materials and supplies - at average cost	61,266	60,185
Deferred tax asset - current	49,216	61,782
Regulatory assets	91	93
Prepayments and other current assets	23,711	23,161
Total current assets	357,773	359,413
DEFERRED DEBITS:
Regulatory assets	421,557	419,193
Miscellaneous	26,772	25,835
Total deferred debits	448,329	445,028
TOTAL	3,759,376	3,667,818
Common shareholders' equity:
Paid in capital	168,733	168,610
Accumulated deficit	-14,180	-17,339
Total common shareholders' equity	154,553	151,271
Cumulative preferred stock of subsidiary	59,784	59,784
Long-term debt	1,819,427	1,951,013
Total capitalization	2,033,764	2,162,068
CURRENT LIABILITIES:
Short-term and current portion of long-term debt (Note 4)	243,850	50,000
Accounts payable	134,105	110,623
Accrued expenses	22,864	25,187
Accrued real estate and personal property taxes	24,243	19,177
Regulatory liabilities	25,942	27,943
Accrued interest	49,380	30,726
Customer deposits	28,664	28,337
Other current liabilities	13,334	12,881
Total current liabilities	542,382	304,874
DEFERRED CREDITS AND OTHER LONG-TERM LIABILITIES:
Regulatory liabilities	618,206	610,917
Deferred income taxes - net	422,356	421,127
Non-current income tax liability	7,053	7,042
Unamortized investment tax credit	4,899	5,229
Accrued pension and other postretirement benefits	69,885	96,464
Asset retirement obligations	59,826	59,098
Miscellaneous	1,005	999
Total deferred credits and other long-term liabilities	1,183,230	1,200,876
COMMITMENTS AND CONTINGENCIES (Note 6)
TOTAL	$3,759,376	$3,667,818

Condensed_Consolidated_Balance1

Condensed Consolidated Balance Sheets (Parenthetical) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Condensed Consolidated Balance Sheets [Abstract]
Accounts receivable and unbilled revenue, allowance for doubtful accounts	$3,086	$2,076

Condensed_Consolidated_Stateme1

Condensed Consolidated Statements Of Cash Flows (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
CASH FLOWS FROM OPERATIONS:
Net income	$22,209	$23,706
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	48,524	46,302
(Deferral) amortization of regulatory assets	-1,008	808
Amortization of debt premium	264	232
Deferred income taxes and investment tax credit adjustments - net	12,177	880
Allowance for equity funds used during construction	-3,152	-1,552
Change in certain assets and liabilities:
Accounts receivable	848	-6,262
Fuel, materials and supplies	-8,900	10,860
Income taxes receivable or payable		9,925
Financial transmission rights	4,921	2,931
Accounts payable and accrued expenses	10,299	-3,029
Accrued real estate and personal property taxes	5,066	4,299
Accrued interest	18,654	17,484
Pension and other postretirement benefit expenses	-26,579	-54,862
Short-term and long-term regulatory assets and liabilities	-2,233	-13,587
Prepaids and other current assets	-5,445	-8,955
Other - net	331	220
Net cash provided by operating activities	75,976	29,400
CASH FLOWS FROM INVESTING ACTIVITIES:
Capital expenditures - utility	-112,960	-41,153
Project development costs	-1,183	-1,209
Cost of removal, net of salvage	-1,811	-843
Other	-50	-51
Net cash used in investing activities	-116,004	-43,256
CASH FLOWS FROM FINANCING ACTIVITIES:
Short-term debt borrowings	77,000	80,000
Short-term debt repayments	-15,000	-20,000
Dividends on common stock	-18,247	-19,800
Issuance of common stock	2
Preferred dividends of subsidiary	-803	-803
Retention payments on capital expenditure	-397
Other	-202	-21
Net cash provided by financing activities	42,353	39,376
Net change in cash and cash equivalents	2,325	25,520
Cash and cash equivalents at beginning of period	26,933	19,067
Cash and cash equivalents at end of period	29,258	44,587
Cash paid during the period for:
Interest (net of amount capitalized)	6,766	8,417
Income taxes
Non-cash investing activities:
Accruals for capital expenditures	$45,207	$19,810

Organization

Organization	3 Months Ended
	Mar. 31, 2015
Organization [Abstract]
Organization	1. ORGANIZATION
	IPALCO is a holding company incorporated under the laws of the state of Indiana. IPALCO, acquired by AES in March 2001, is owned by AES U.S. Investments and CDPQ. As of March 31, 2015, AES U.S. Investments is owned by AES U.S. Holdings, LLC (85%) and CDPQ (15%). Please see Note 10, “Subsequent Events” for additional details. IPALCO owns all of the outstanding common stock of IPL. Substantially all of IPALCO’s business consists of the generation, transmission, distribution and sale of electric energy conducted through its principal subsidiary, IPL. IPL was incorporated under the laws of the state of Indiana in 1926. IPL has approximately 480,000 retail customers in the city of Indianapolis and neighboring cities, towns and communities, and adjacent rural areas all within the state of Indiana, with the most distant point being approximately forty miles from Indianapolis. IPL has an exclusive right to provide electric service to those customers. IPL owns and operates two primarily coal-fired generating plants, one combination coal and gas-fired plant and two combustion turbines at a separate site that are all used for generating electricity. IPL’s net electric generation capacity for winter is 3,233 MW and net summer capacity is 3,115 MW.

Summary_Of_Significant_Account

Summary Of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2015
Summary Of Significant Accounting Policies [Abstract]
Summary Of Significant Accounting Policies	2. Summary of significant accounting policies
	The accompanying Financial Statements include the accounts of IPALCO, IPL and Mid-America Capital Resources, Inc., a non-regulated wholly-owned subsidiary of IPALCO. All significant intercompany amounts have been eliminated. The accompanying Financial Statements are unaudited; however, they have been prepared in accordance with GAAP for interim financial information and in conjunction with the rules and regulations of the SEC. Accordingly, they do not include all of the disclosures required by GAAP for annual fiscal reporting periods. In the opinion of management, all adjustments of a normal recurring nature necessary for fair presentation have been included. The electric utility business is affected by seasonal weather patterns throughout the year and, therefore, the operating revenues and associated operating expenses are not generated evenly by month during the year. These unaudited Financial Statements have been prepared in accordance with the accounting policies described in IPALCO’s 2014 Form 10-K and should be read in conjunction therewith. Certain prior period amounts have been reclassified to conform to current year presentation.
	Use of Management Estimates
	The preparation of financial statements in conformity with GAAP requires that management make certain estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements. The reported amounts of revenues and expenses during the reporting period may also be affected by the estimates and assumptions that management is required to make. Actual results may differ from those estimates.
	New Accounting Pronouncements
	ASU No. 2015-03, Interest – Imputation of Interest (Subtopic 835-30)
	In April 2015, the FASB issued ASU No. 2015-03, which simplifies the presentation of debt issuance costs by requiring that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. The recognition and measurement guidance for debt issuance costs are not affected by the amendments in this update. The standard is effective for annual reporting periods beginning after December 15, 2015 and interim periods therein, and requires the use of the full retrospective approach. Early adoption is permitted for financial statements that have not been previously issued. As of March 31, 2015, the Company had approximately $15.0 million in deferred financing costs classified in other noncurrent assets that would be reclassified to reduce the related debt liabilities upon adoption of ASU No. 2015-03.

Fair_Value_Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2015
Fair Value Measurements [Abstract]
Fair Value Measurements	3. FAIR VALUE MEASUREMENTS
	Fair Value Hierarchy
	ASC 820 defined and established a framework for measuring fair value and expands disclosures about fair value measurements for financial assets and liabilities that are adjusted to fair value on a recurring basis and/or financial assets and liabilities that are measured at fair value on a nonrecurring basis, which have been adjusted to fair value during the period. In accordance with ASC 820, we have categorized our financial assets and liabilities that are adjusted to fair value, based on the priority of the inputs to the valuation technique, following the three-level fair value hierarchy prescribed by ASC 820 as follows:
	Level 1 - unadjusted quoted prices for identical assets or liabilities in an active market;
	Level 2 - inputs from quoted prices in markets where trading occurs infrequently or quoted prices of instruments with similar attributes in active markets; and
	Level 3 - unobservable inputs reflecting management’s own assumptions about the inputs used in pricing the asset or liability.
	As of March 31, 2015 and December 31, 2014, all of IPALCO’s financial assets or liabilities adjusted to fair value on a recurring basis (excluding pension assets – see Note 5, “Pension and Other Postretirement Benefits”) were considered Level 3, based on the above fair value hierarchy. These primarily consisted of financial transmission rights, which are used to offset MISO congestion charges. Because the benefit associated with financial transmission rights is a flow-through to IPL’s jurisdictional customers, IPL records a regulatory liability matching the value of the financial transmission rights. In addition, IPALCO had one financial asset, a nonutility investment accounted for using the cost method of accounting, which is measured at fair value on a nonrecurring basis, again using Level 3 measurements. No adjustments were made to this asset during the periods covered by this report. All of these financial assets and liabilities were not material to the Financial Statements in the periods covered by this report, individually or in the aggregate.
	Whenever possible, quoted prices in active markets are used to determine the fair value of our financial instruments. Our financial instruments are not held for trading or other speculative purposes. The estimated fair value of financial instruments has been determined by using available market information and appropriate valuation methodologies. However, considerable judgment is required in interpreting market data to develop the estimates of fair value. Accordingly, the estimates presented herein are not necessarily indicative of the amounts that we could realize in a current market exchange. The use of different market assumptions and/or estimation methodologies may have a material effect on the estimated fair value amounts.
	Cash Equivalents
	As of March 31, 2015 and December 31, 2014, our cash equivalents consisted of money market funds. The fair value of cash equivalents approximates their book value due to their short maturity (Level 1), which was $4.4 million and $5.1 million as of March 31, 2015 and December 31, 2014, respectively.
	Indebtedness
	The fair value of our outstanding fixed-rate debt has been determined on the basis of the quoted market prices of the specific securities issued and outstanding. Because trading of our debt occurs somewhat infrequently, we consider the fair values to be Level 2. It is not the purpose of this disclosure to approximate the value on the basis of how the debt might be refinanced.
	The following table shows the face value and the fair value of fixed-rate and variable-rate indebtedness for the periods ending:
		31-Mar-15				31-Dec-14
		Face Value		Fair Value		Face Value		Fair Value
		(In Millions)
	Fixed-rate	$	1,955.3	$	2,260.0	$	1,955.3	$	2,231.2
	Variable-rate		112.0		112.0		50.0		50.0
	Total indebtedness	$	2,067.3	$	2,372.0	$	2,005.3	$	2,281.2
	The difference between the face value and the carrying value of this indebtedness represents unamortized discounts of $4.0 million and $4.3 million at March 31, 2015 and December 31, 2014, respectively.
	Other Non-Recurring Fair Value Measurements
	ASC 410 “Asset Retirement and Environmental Obligations” addresses financial accounting and reporting for legal obligations associated with the retirement of long-lived assets that result from the acquisition, construction, development and/or normal operation. A legal obligation for purposes of ASC 410 is an obligation that a party is required to settle as a result of an existing law, statute, ordinance, written or oral contract or the doctrine of promissory estoppel. IPL’s ARO liabilities relate primarily to environmental issues involving asbestos-containing materials, ash ponds, landfills and miscellaneous contaminants associated with its generating plants, transmission system and distribution system. We use the cost approach to determine the fair value of IPL’s ARO liabilities, which is estimated by discounting expected cash outflows to their present value at the initial recording of the liabilities. Cash outflows are based on the approximate future disposal costs as determined by market information, historical information or other management estimates. These inputs to the fair value of the ARO liabilities would be considered Level 3 inputs under the fair value hierarchy. As of March 31, 2015 and December 31, 2014, ARO liabilities were $59.8 million and $59.1 million, respectively.

Indebtedness

Indebtedness	3 Months Ended
	Mar. 31, 2015
Indebtedness [Abstract]
Indebtedness
	4. INDEBTEDNESS
	Long-Term Debt
	The following table presents our long-term indebtedness:
				March 31,		December 31,
	Series	Due		2015		2014
				(In Thousands)
	IPL first mortgage bonds (see below):
	4.90% (1)	Jan-16		30,000		30,000
	4.90% (1)	Jan-16		41,850		41,850
	4.90% (1)	Jan-16		60,000		60,000
	5.40% (2)	Aug-17		24,650		24,650
	3.875% (1)	Aug-21		55,000		55,000
	3.875% (1)	Aug-21		40,000		40,000
	4.55% (1)	Dec-24		40,000		40,000
	6.60%	Jan-34		100,000		100,000
	6.05%	Oct-36		158,800		158,800
	6.60%	Jun-37		165,000		165,000
	4.88%	Nov-41		140,000		140,000
	4.65%	Jun-43		170,000		170,000
	4.50%	Jun-44		130,000		130,000
	Unamortized discount – net			-2,920		-2,940
	Total IPL first mortgage bonds			1,152,380		1,152,360
	Total Long-term Debt – IPL			1,152,380		1,152,360
	Long-term Debt – IPALCO:
	7.25% Senior Secured Notes	Apr-16		400,000		400,000
	5.00% Senior Secured Notes	May-18		400,000		400,000
	Unamortized discount – net			-1,103		-1,347
	Total Long-term Debt – IPALCO			798,897		798,653
	Total Consolidated IPALCO Long-term Debt			1,951,277		1,951,013
	Less: Current Portion of Long-term Debt			131,850		—
	Net Consolidated IPALCO Long-term Debt		$	1,819,427	$	1,951,013
	-1
	-1
	First mortgage bonds are issued to the Indiana Finance Authority, to secure the loan of proceeds from the tax-exempt bonds issued by the Indiana Finance Authority.
	-2
	First mortgage bonds are issued to the city of Petersburg, Indiana, to secure the loan proceeds from various tax-exempt instruments issued by the city.
	Line of Credit
	In May 2014, IPL entered into an amendment and restatement of its 5-year $250 million revolving credit facility (the “Credit Agreement”) with a syndication of banks. This Credit Agreement is an unsecured committed line of credit to be used: (i) to finance capital expenditures; (ii) to refinance indebtedness under the existing credit agreement; (iii) to support working capital; and (iv) for general corporate purposes. This agreement matures on May 6, 2019, and bears interest at variable rates as described in the Credit Agreement. It includes an uncommitted $150 million accordion feature to provide IPL with an option to request an increase in the size of the facility at any time during the term of the agreement, subject to approval by the lenders. Prior to execution, IPL and IPALCO had existing general banking relationships with the parties in this agreement. As of March 31, 2015 and December 31, 2014, IPL had $62.0 million and $0.0 million of outstanding borrowings on the committed line of credit, respectively.
	IPL First Mortgage Bonds
	IPALCO has classified its outstanding $131.9 million aggregate principal amount of 4.9% IPL first mortgage bonds as short-term indebtedness as they are due January 2016. Management plans to refinance these bonds with new debt. In the event that we are unable to refinance these bonds on acceptable terms, IPL has available borrowing capacity on its revolving credit facility that could be used to satisfy the obligation.

Pension_And_Other_Postretireme

Pension And Other Postretirement Benefits	3 Months Ended
	Mar. 31, 2015
Pension And Other Postretirement Benefits [Abstract]
Pension And Other Postretirement Benefits	5. PENSION AND OTHER POSTRETIREMENT BENEFITS
	The following table (in thousands) presents information for the three months ended March 31, 2015, relating to the Pension Plans:
	Net unfunded status of plans:
	Net unfunded status at December 31, 2014, before tax adjustments	$	-91,182
	Net benefit cost components reflected in net funded status during first quarter:
	Service cost		-2,079
	Interest cost		-7,408
	Expected return on assets		11,206
	Employer contributions during quarter		25,000
	Net unfunded status at March 31, 2015, before tax adjustments	$	-64,463
	Regulatory assets related to pensions(1):
	Regulatory assets at December 31, 2014, before tax adjustments	$	236,891
	Amount reclassified through net benefit cost:
	Amortization of prior service cost		-1,216
	Amortization of net actuarial loss		-3,475
	Regulatory assets at March 31, 2015, before tax adjustments	$	232,200
		-1		Amounts that would otherwise be charged/credited to Accumulated Other Comprehensive Income or Loss upon application of ASC 715, “Compensation – Retirement Benefits,” are recorded as a regulatory asset or liability because IPL has historically recovered and currently recovers pension and other postretirement benefit expenses in rates. These are unrecognized amounts yet to be recognized as components of net periodic benefit costs.
	Pension Expense
	The following table presents net periodic benefit cost information relating to the Pension Plans combined:
		For the Three Months Ended,
		March 31,
		2015		2014
		(In Thousands)
	Components of net periodic benefit cost:
	Service cost	$	2,079	$	1,808
	Interest cost		7,408		7,788
	Expected return on plan assets		-11,206		-10,473
	Amortization of prior service cost		1,216		1,213
	Amortization of actuarial loss		3,475		2,429
	Net periodic benefit cost	$	2,972	$	2,765
	In addition, IPL provides postretirement health care benefits to certain active or retired employees and the spouses of certain active or retired employees. These postretirement health care benefits and the related unfunded obligation was $5.6 million and $5.4 million at March 31, 2015 and December 31, 2014, respectively.  The related expense was not material to the Financial Statements in the periods covered by this report.

Commitments_And_Contingencies

Commitments And Contingencies	3 Months Ended
	Mar. 31, 2015
Commitments And Contingencies [Abstract]
Commitments And Contingencies
	6. COMMITMENTS AND CONTINGENCIES
	Legal Loss Contingencies
	IPALCO and IPL are involved in litigation arising in the normal course of business. While the results of such litigation cannot be predicted with certainty, management believes that the final outcome will not have a material adverse effect on IPALCO’s results of operations, financial condition and cash flows. Amounts accrued or expensed for legal or environmental contingencies collectively during the periods covered by this report have not been material to the Financial Statements of IPALCO.
	Environmental Loss Contingencies
	We are subject to various federal, state, regional and local environmental protection and health and safety laws, as well as regulations governing, among other things, the generation, storage, handling, use, disposal and transportation of hazardous materials; the emission and discharge of hazardous and other materials into the environment; and the health and safety of our employees. These laws and regulations often require a lengthy and complex process of obtaining and renewing permits and other governmental authorizations from federal, state and local agencies. Violation of these laws, regulations or permits can result in substantial fines, other sanctions, permit revocation and/or facility shutdowns. We cannot assure that we have been or will be at all times in full compliance with such laws, regulations and permits.
	New Source Review
	In October 2009, IPL received a NOV and Finding of Violation from the EPA pursuant to the CAA Section 113(a). The NOV alleges violations of the CAA at IPL’s three primarily coal-fired electric generating facilities dating back to 1986. The alleged violations primarily pertain to the PSD and nonattainment New Source Review requirements under the CAA. Since receiving the letter, IPL management has met with the EPA staff regarding possible resolutions of the NOV. At this time, we cannot predict the ultimate resolution of this matter. However, settlements and litigated outcomes of similar cases have required companies to pay civil penalties, install additional pollution control technology on coal-fired electric generating units, retire existing generating units, and invest in additional environmental projects. A similar outcome in this case could have a material impact on our business. We would seek recovery of any operating or capital expenditures related to air pollution control technology to reduce regulated air emissions; however, there can be no assurances that we would be successful in that regard. IPL has recorded a contingent liability related to this matter.

Income_Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2015
Income Taxes [Abstract]
Income Taxes	7. INCOME TAXES
	IPALCO’s effective combined state and federal income tax rate was 36.3% for the three months ended March 31, 2015, as compared to 32.1% for the three months ended March 31, 2014. The increase in the effective tax rate was primarily the result of an increase in state income tax expense (net of the federal tax benefit) and the disallowance of the manufacturers’ production deduction (Internal Revenue Code Section 199). The state tax expense in the current period is greater than the prior period due to the prior period containing an adjustment for a reduction in the enacted Indiana state tax rate. Due to the election of the final tangible property regulations in the prior year, IPALCO will not receive the benefit of the manufacturers’ deduction until the Net Operating Loss carryover caused by the election is used in its entirety. These increases in the rate were also partially offset by the increase in the allowance for equity funds used during construction in 2015.

Related_Party_Transactions

Related Party Transactions	3 Months Ended
	Mar. 31, 2015
Related Party Transactions [Abstract]
Related Party Transactions	8. RELATED PARTY TRANSACTIONS
	In December 2013, an agreement was signed, effective January 1, 2014, whereby the Service Company began providing services including accounting, legal, human resources, information technology and other corporate services on behalf of companies that are part of the U.S. SBU, including among other companies, IPALCO and IPL. The Service Company allocates the costs for these services based on cost drivers designed to result in fair and equitable allocations. This includes ensuring that the regulated utilities served, including IPL, are not subsidizing costs incurred for the benefit of non-regulated businesses. Total costs incurred by the Service Company on behalf of IPALCO were $6.0 million and $8.4 million during the three-month periods ended March 31, 2015 and 2014, respectively. Total costs incurred by IPALCO on behalf of the Service Company were $1.7 million and $1.0 million during the three month periods ended March 31, 2015 and 2014, respectively. IPALCO had a prepaid balance with the Service Company of $2.4 million and $0.4 million as of March 31, 2015 and December 31, 2014, respectively.

Segment_Information

Segment Information	3 Months Ended
	Mar. 31, 2015
Segment Information [Abstract]
Segment Information
	9. SEGMENT INFORMATION
	Operating segments are components of an enterprise that engage in business activities from which it may earn revenues and incur expenses, for which separate financial information is available, and is evaluated regularly by the chief operating decision maker in assessing performance and deciding how to allocate resources. Substantially all of our business consists of the generation, transmission, distribution and sale of electric energy conducted through IPL which is a vertically integrated electric utility. IPALCO’s reportable business segment is its utility segment, with all other non-utility business activities aggregated separately. The non-utility category primarily includes the $400 million of 7.25% Senior Secured Notes due April 1, 2016 and the $400 million of 5.00% Senior Secured Notes due May 1, 2018; approximately $5.7 million and $5.9 million of cash and cash equivalents, as of March 31, 2015 and December 31, 2014, respectively; long-term investments of $5.1 million and $5.1 million at March 31, 2015 and December 31, 2014, respectively; and income taxes and interest related to those items. All other non-utility assets represented approximately 1% of IPALCO’s total assets as of March 31, 2015 and December 31, 2014. Net income for the utility segment was $29.7 million and $31.4 million for the three-month periods ended March 31, 2015 and 2014, respectively. The accounting policies of the identified segment are consistent with those policies and procedures described in the summary of significant accounting policies. Intersegment sales, if any, are generally based on prices that reflect the current market conditions.

Subsequent_Events

Subsequent Events	3 Months Ended
	Mar. 31, 2015
Subsequent Events [Abstract]
Subsequent Events	10. SUBSEQUENT EVENTS
	On April 1, 2015, IPALCO issued and sold 11,818,828 shares of IPALCO’s common stock to CDPQ for $214.4 million for funding needs related to IPL’s environmental construction program. IPALCO then made the same investment in IPL. As a result of this transaction, CDPQ’s direct ownership share of IPALCO is 11.6% and CDPQ’s combined direct and indirect ownership share of IPALCO is 24.9%.

Summary_Of_Significant_Account1

Summary Of Significant Accounting Policies (Policy)	3 Months Ended
	Mar. 31, 2015
Summary Of Significant Accounting Policies [Abstract]
Use Of Management Estimates	Use of Management Estimates
	The preparation of financial statements in conformity with GAAP requires that management make certain estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements. The reported amounts of revenues and expenses during the reporting period may also be affected by the estimates and assumptions that management is required to make. Actual results may differ from those estimates.
New Accounting Pronouncements	New Accounting Pronouncements
	ASU No. 2015-03, Interest – Imputation of Interest (Subtopic 835-30)
	In April 2015, the FASB issued ASU No. 2015-03, which simplifies the presentation of debt issuance costs by requiring that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. The recognition and measurement guidance for debt issuance costs are not affected by the amendments in this update. The standard is effective for annual reporting periods beginning after December 15, 2015 and interim periods therein, and requires the use of the full retrospective approach. Early adoption is permitted for financial statements that have not been previously issued. As of March 31, 2015, the Company had approximately $15.0 million in deferred financing costs classified in other noncurrent assets that would be reclassified to reduce the related debt liabilities upon adoption of ASU No. 2015-03.

Fair_Value_Measurements_Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2015
Fair Value Measurements [Abstract]
Schedule Of Face And Fair Value Of Debt
		31-Mar-15				31-Dec-14
		Face Value		Fair Value		Face Value		Fair Value
		(In Millions)
	Fixed-rate	$	1,955.3	$	2,260.0	$	1,955.3	$	2,231.2
	Variable-rate		112.0		112.0		50.0		50.0
	Total indebtedness	$	2,067.3	$	2,372.0	$	2,005.3	$	2,281.2

Indebtedness_Tables

Indebtedness (Tables)	3 Months Ended
	Mar. 31, 2015
Indebtedness [Abstract]
Schedule Long-Term Indebtedness				March 31,		December 31,
	Series	Due		2015		2014
				(In Thousands)
	IPL first mortgage bonds (see below):
	4.90% (1)	Jan-16		30,000		30,000
	4.90% (1)	Jan-16		41,850		41,850
	4.90% (1)	Jan-16		60,000		60,000
	5.40% (2)	Aug-17		24,650		24,650
	3.875% (1)	Aug-21		55,000		55,000
	3.875% (1)	Aug-21		40,000		40,000
	4.55% (1)	Dec-24		40,000		40,000
	6.60%	Jan-34		100,000		100,000
	6.05%	Oct-36		158,800		158,800
	6.60%	Jun-37		165,000		165,000
	4.88%	Nov-41		140,000		140,000
	4.65%	Jun-43		170,000		170,000
	4.50%	Jun-44		130,000		130,000
	Unamortized discount – net			-2,920		-2,940
	Total IPL first mortgage bonds			1,152,380		1,152,360
	Total Long-term Debt – IPL			1,152,380		1,152,360
	Long-term Debt – IPALCO:
	7.25% Senior Secured Notes	Apr-16		400,000		400,000
	5.00% Senior Secured Notes	May-18		400,000		400,000
	Unamortized discount – net			-1,103		-1,347
	Total Long-term Debt – IPALCO			798,897		798,653
	Total Consolidated IPALCO Long-term Debt			1,951,277		1,951,013
	Less: Current Portion of Long-term Debt			131,850		—
	Net Consolidated IPALCO Long-term Debt		$	1,819,427	$	1,951,013
	-1
	-1
	First mortgage bonds are issued to the Indiana Finance Authority, to secure the loan of proceeds from the tax-exempt bonds issued by the Indiana Finance Authority.
	-2
	First mortgage bonds are issued to the city of Petersburg, Indiana, to secure the loan proceeds from various tax-exempt instruments issued by the city.

Pension_And_Other_Postretireme1

Pension And Other Postretirement Benefits (Tables)	3 Months Ended
	Mar. 31, 2015
Pension And Other Postretirement Benefits [Abstract]
Schedule Of Defined Benefit Plans Disclosures
	Net unfunded status of plans:
	Net unfunded status at December 31, 2014, before tax adjustments	$	-91,182
	Net benefit cost components reflected in net funded status during first quarter:
	Service cost		-2,079
	Interest cost		-7,408
	Expected return on assets		11,206
	Employer contributions during quarter		25,000
	Net unfunded status at March 31, 2015, before tax adjustments	$	-64,463
	Regulatory assets related to pensions(1):
	Regulatory assets at December 31, 2014, before tax adjustments	$	236,891
	Amount reclassified through net benefit cost:
	Amortization of prior service cost		-1,216
	Amortization of net actuarial loss		-3,475
	Regulatory assets at March 31, 2015, before tax adjustments	$	232,200
		-1		Amounts that would otherwise be charged/credited to Accumulated Other Comprehensive Income or Loss upon application of ASC 715, “Compensation – Retirement Benefits,” are recorded as a regulatory asset or liability because IPL has historically recovered and currently recovers pension and other postretirement benefit expenses in rates. These are unrecognized amounts yet to be recognized as components of net periodic benefit costs.
Schedule Of Net Periodic Benefit Costs
		For the Three Months Ended,
		March 31,
		2015		2014
		(In Thousands)
	Components of net periodic benefit cost:
	Service cost	$	2,079	$	1,808
	Interest cost		7,408		7,788
	Expected return on plan assets		-11,206		-10,473
	Amortization of prior service cost		1,216		1,213
	Amortization of actuarial loss		3,475		2,429
	Net periodic benefit cost	$	2,972	$	2,765

Organization_Details

Organization (Details)	3 Months Ended
	Mar. 31, 2015
	item
	MW
	customer
Organization [Line Items]
Number of customers	480,000
Number of coal fired plants	2
Number of combustion coal and gas fired plants	1
Number of combustion turbines	2
Electric generation capability for winter, megawatts	3,233
Electric generation capability for summer, megawatts	3,115
AES U.S. Investments [Member]
Organization [Line Items]
Ownership percentage by parent	85.00%
CDPQ [Member]
Organization [Line Items]
Ownership percentage by parent	15.00%

Fair_Value_Measurements_Narrat

Fair Value Measurements (Narrative) (Details) (USD $)	Mar. 31, 2015	Dec. 31, 2014
Fair Value Measurements [Abstract]
Cash and cash equivalents	$4,400,000	$5,100,000
Unamortized debt discount	4,000,000	4,300,000
Asset retirement obligations	$59,826,000	$59,098,000

Fair_Value_Measurements_Schedu

Fair Value Measurements (Schedule Of Face And Fair Value Of Debt) (Details) (USD $)	Mar. 31, 2015	Dec. 31, 2014
Debt Instrument [Line Items]
Face Value	$2,067,300,000	$2,005,300,000
Fair Value	2,372,000,000	2,281,200,000
Fixed Rate [Member]
Debt Instrument [Line Items]
Face Value	1,955,300,000	1,955,300,000
Fair Value	2,260,000,000	2,231,200,000
Variable Rate [Member]
Debt Instrument [Line Items]
Face Value	112,000,000	50,000,000
Fair Value	$112,000,000	$50,000,000

Indebtedness_Narrative_Details

Indebtedness (Narrative) (Details) (USD $)	1 Months Ended	3 Months Ended
	31-May-14	Mar. 31, 2015	Dec. 31, 2014
Debt Instrument [Line Items]
Line of credit facility, term	5 years
Line of credit, amount outstanding		$62,000,000	$0
Maximum borrowing capacity	250,000,000
Line of credit facility, accordion feature	150,000,000
Current portion of long-term debt		$131,850,000
Debt instrument, public price percentage of par		4.90%
Letter of Credit [Member]
Debt Instrument [Line Items]
Debt instrument, maturity date		6-May-19

Indebtedness_Schedule_LongTerm

Indebtedness (Schedule Long-Term Indebtedness) (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015		Dec. 31, 2014
Debt Instrument [Line Items]
Unamortized discount - net	($4,000)		($4,300)
Long-term debt	1,951,277		1,951,013
Less: Current Portion of Long-term Debt	131,850
Net Consolidated IPALCO Long-term Debt	1,819,427		1,951,013
7.25% Senior Secured Notes [Member]
Debt Instrument [Line Items]
Debt due date	1-Apr-16
5.00% Senior Secured Notes [Member]
Debt Instrument [Line Items]
Debt due date	1-May-18
Ipalco Enterprises, Inc. [Member]
Debt Instrument [Line Items]
Unamortized discount - net	-1,103		-1,347
Net Consolidated IPALCO Long-term Debt	798,897		798,653
Ipalco Enterprises, Inc. [Member] | 7.25% Senior Secured Notes [Member]
Debt Instrument [Line Items]
Long-term debt	400,000		400,000
Debt, stated interest rate	7.25%
Debt due date	1-Apr-16
Ipalco Enterprises, Inc. [Member] | 5.00% Senior Secured Notes [Member]
Debt Instrument [Line Items]
Long-term debt	400,000		400,000
Debt, stated interest rate	5.00%
Debt due date	1-May-18
Indianapolis Power And Light Company [Member]
Debt Instrument [Line Items]
First mortgage bonds	1,152,380		1,152,360
Unamortized discount - net	-2,920		-2,940
Long-term debt	1,152,380		1,152,360
Indianapolis Power And Light Company [Member] | First Mortgage Bond 4.90% Due January 2016 [Member]
Debt Instrument [Line Items]
First mortgage bonds	30,000	[1]	30,000	[1]
Debt, stated interest rate	4.90%	[1]
Debt due date	1-Jan-16	[1]
Indianapolis Power And Light Company [Member] | First Mortgage Bond 4.90% Due January 2016 [Member]
Debt Instrument [Line Items]
First mortgage bonds	41,850	[1]	41,850	[1]
Debt, stated interest rate	4.90%	[1]
Debt due date	1-Jan-16	[1]
Indianapolis Power And Light Company [Member] | First Mortgage Bond 4.90% Due January 2016 [Member]
Debt Instrument [Line Items]
First mortgage bonds	60,000	[1]	60,000	[1]
Debt, stated interest rate	4.90%	[1]
Debt due date	1-Jan-16	[1]
Indianapolis Power And Light Company [Member] | First Mortgage Bond 5.40% Due August 2017 [Member]
Debt Instrument [Line Items]
First mortgage bonds	24,650	[2]	24,650	[2]
Debt, stated interest rate	5.40%	[2]
Debt due date	1-Aug-17	[2]
Indianapolis Power And Light Company [Member] | First Mortgage Bond 3.875% Due August 2021 [Member]
Debt Instrument [Line Items]
First mortgage bonds	55,000	[1]	55,000	[1]
Debt, stated interest rate	3.88%	[1]
Debt due date	1-Aug-21	[1]
Indianapolis Power And Light Company [Member] | First Mortgage Bond 3.875% Due August 2021 [Member]
Debt Instrument [Line Items]
First mortgage bonds	40,000	[1]	40,000	[1]
Debt, stated interest rate	3.88%	[1]
Debt due date	1-Aug-21	[1]
Indianapolis Power And Light Company [Member] | First Mortgage Bond 4.55% Due December 2024 [Member]
Debt Instrument [Line Items]
First mortgage bonds	40,000	[1]	40,000	[1]
Debt, stated interest rate	4.55%	[1]
Debt due date	1-Dec-24	[1]
Indianapolis Power And Light Company [Member] | First Mortgage Bond 6.60% Due January 2034 [Member]
Debt Instrument [Line Items]
First mortgage bonds	100,000		100,000
Debt, stated interest rate	6.60%
Debt due date	1-Jan-34
Indianapolis Power And Light Company [Member] | First Mortgage Bond 6.05% Due October 2036 [Member]
Debt Instrument [Line Items]
First mortgage bonds	158,800		158,800
Debt, stated interest rate	6.05%
Debt due date	1-Oct-36
Indianapolis Power And Light Company [Member] | First Mortgage Bond 6.60% Due June 2037 [Member]
Debt Instrument [Line Items]
First mortgage bonds	165,000		165,000
Debt, stated interest rate	6.60%
Debt due date	1-Jun-37
Indianapolis Power And Light Company [Member] | First Mortgage Bond 4.875% Due November 2041 [Member]
Debt Instrument [Line Items]
First mortgage bonds	140,000		140,000
Debt, stated interest rate	4.88%
Debt due date	1-Nov-41
Indianapolis Power And Light Company [Member] | First Mortgage Bond 4.65% Due June 2043 [Member]
Debt Instrument [Line Items]
First mortgage bonds	170,000		170,000
Debt, stated interest rate	4.65%
Debt due date	1-Jun-43
Indianapolis Power And Light Company [Member] | First Mortgage Bond 4.50% Due June 2044[Member]
Debt Instrument [Line Items]
First mortgage bonds	$130,000		$130,000
Debt, stated interest rate	4.50%
Debt due date	1-Jun-44
[1]	First mortgage bonds are issued to the Indiana Finance Authority, to secure the loan of proceeds from the tax-exempt bonds issued by the Indiana Finance Authority.
[2]	First mortgage bonds are issued to the city of Petersburg, Indiana, to secure the loan proceeds from various tax-exempt instruments issued by the city.

Pension_And_Other_Postretireme2

Pension And Other Postretirement Benefits (Narrative) (Details) (Pension Benefit [Member], USD $)	Mar. 31, 2015	Dec. 31, 2014
In Millions, unless otherwise specified
Pension Benefit [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Benefit Obligation	$5.60	$5.40

Pension_And_Other_Postretireme3

Pension And Other Postretirement Benefits (Schedule Of Defined Benefit Plans Disclosures) (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015		Mar. 31, 2014
Pension And Other Postretirement Benefits [Abstract]
Net funded status before tax adjustments	($91,182)
Service cost	-2,079		-1,808
Interest cost	-7,408		-7,788
Expected return on assets	11,206		10,473
Employer contributions during quarter	25,000
Net funded status before tax adjustments	-64,463
Regulatory assets before tax adjustments	236,891	[1]
Amortization of prior service cost	-1,216	[1]	-1,213
Amortization of net actuarial loss	-3,475	[1]	-2,429
Regulatory assets before tax adjustments	$232,200	[1]
[1]	Amounts that would otherwise be charged/credited to Accumulated Other Comprehensive Income or Loss upon application of ASC 715, bCompensation - Retirement Benefits,b are recorded as a regulatory asset or liability because IPL has historically recovered and currently recovers pension and other postretirement benefit expenses in rates. These are unrecognized amounts yet to be recognized as components of net periodic benefit costs.

Pension_And_Other_Postretireme4

Pension And Other Postretirement Benefits (Schedule Of Net Periodic Benefit Costs) (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015		Mar. 31, 2014
Pension And Other Postretirement Benefits [Abstract]
Service cost	$2,079		$1,808
Interest cost	7,408		7,788
Expected return on assets	-11,206		-10,473
Amortization of prior service cost	1,216	[1]	1,213
Amortization of actuarial loss	3,475	[1]	2,429
Net periodic benefit cost	$2,972		$2,765
[1]	Amounts that would otherwise be charged/credited to Accumulated Other Comprehensive Income or Loss upon application of ASC 715, bCompensation - Retirement Benefits,b are recorded as a regulatory asset or liability because IPL has historically recovered and currently recovers pension and other postretirement benefit expenses in rates. These are unrecognized amounts yet to be recognized as components of net periodic benefit costs.

Income_Taxes_Narrative_Details

Income Taxes (Narrative) (Details)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Income Taxes [Abstract]
State and federal income tax rate	36.30%	32.10%

Related_Party_Transactions_Det

Related Party Transactions (Details) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Service Company [Member]
Related Party Transaction [Line Items]
Costs incurred by related party	$6	$8.40
Prepaid balance to related party	2.4	0.4
Ipalco Enterprises, Inc. [Member]
Related Party Transaction [Line Items]
Costs incurred by related party	$1.70	$1

Segment_Information_Details

Segment Information (Details) (USD $)	3 Months Ended		12 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014
Debt Instrument [Line Items]
Cash	$5,700,000		5,900,000
Long-term nonutility investments	5,100,000		5,100,000
Net income	22,209,000	23,706,000
7.25% Senior Secured Notes [Member]
Debt Instrument [Line Items]
Senior secured note	400,000,000
Senior notes, interest rate, percentage	7.25%
Debt instrument, maturity date	1-Apr-16
5.00% Senior Secured Notes [Member]
Debt Instrument [Line Items]
Senior secured note	400,000,000
Senior notes, interest rate, percentage	5.00%
Debt instrument, maturity date	1-May-18
Utility Segment [Member]
Debt Instrument [Line Items]
Net income	$29,700,000	$31,400,000
Maximum [Member]
Debt Instrument [Line Items]
Nonutility assets representation rate, percentage	1.00%		1.00%

Subsequent_Events_Details

Subsequent Events (Details) (CDPQ [Member], Subsequent Event [Member], Common Stock [Member], USD $)	0 Months Ended
In Millions, except Share data, unless otherwise specified	Apr. 01, 2015	Apr. 01, 2015
CDPQ [Member] | Subsequent Event [Member] | Common Stock [Member]
Subsequent Event [Line Items]
Number of shares issued and sold	11,818,828
Value of shares issued and sold	$214.40
Percentage of direct ownership share of IPALCO	11.60%	11.60%
Percentage of direct and indirect ownership share of IPALCO	24.90%	24.90%