Ipalco Enterprises 10-Q 9 May 16 2016 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Mar. 31, 2016	May. 06, 2016
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2016
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2,016
Entity Registrant Name	IPALCO ENTERPRISES, INC.
Entity Central Index Key	728,391
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding		108,907,318

Unaudited Condensed Consolidate

Unaudited Condensed Consolidated Statements Of Operations - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Income Statement [Abstract]
UTILITY OPERATING REVENUES	$ 327,745	$ 332,201
Operation:
Fuel	66,497	85,432
Other operating expenses	57,234	54,976
Power purchased	52,448	42,576
Maintenance	30,521	31,282
Depreciation and amortization	53,235	46,445
Taxes other than income taxes	11,134	12,933
Income taxes - net	16,404	18,201
Total utility operating expenses	287,473	291,845
UTILITY OPERATING INCOME	40,272	40,356
OTHER INCOME AND (DEDUCTIONS):
Allowance for equity funds used during construction	6,781	3,218
Miscellaneous income and (deductions) - net	(1,076)	(626)
Income tax benefit applicable to nonoperating income	3,463	6,024
Total other income and (deductions) - net	9,168	8,616
INTEREST AND OTHER CHARGES:
Interest on long-term debt	26,101	27,646
Other interest	742	449
Allowance for borrowed funds used during construction	(5,834)	(2,666)
Amortization of redemption premiums and expense on debt	1,026	1,334
Total interest and other charges - net	22,035	26,763
NET INCOME	27,405	22,209
LESS: PREFERRED DIVIDENDS OF SUBSIDIARY	803	803
NET INCOME APPLICABLE TO COMMON STOCK	$ 26,602	$ 21,406

Unaudited Condensed Consolidat3

Unaudited Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
UTILITY PLANT:
Utility plant in service	$ 5,128,883	$ 4,992,594
Less accumulated depreciation	2,332,025	2,320,955
Utility plant in service - net	2,796,858	2,671,639
Construction work in progress	842,323	766,406
Spare parts inventory	14,127	12,336
Property held for future use	1,002	1,002
Utility plant - net	3,654,310	3,451,383
OTHER ASSETS:
Nonutility property - at cost, less accumulated depreciation	516	517
Other long-term assets	5,487	5,664
Other assets - net	6,003	6,181
CURRENT ASSETS:
Cash and cash equivalents	19,924	21,521
Accounts receivable and unbilled revenue (less allowance for doubtful accounts of $3,262 and $2,498, respectively)	126,980	124,167
Fuel inventories - at average cost	62,316	66,834
Materials and supplies - at average cost	55,641	57,997
Regulatory assets	22,197	8,002
Prepayments and other current assets	32,770	26,063
Total current assets	319,828	304,584
DEFERRED DEBITS:
Regulatory assets	448,294	448,200
Miscellaneous	6,369	6,821
Total deferred debits	454,663	455,021
TOTAL	4,434,804	4,217,169
Common shareholders' equity:
Paid in capital	517,846	383,448
Accumulated deficit	(28,413)	(30,515)
Total common shareholders' equity	489,433	352,933
Cumulative preferred stock of subsidiary	59,784	59,784
Long-term debt (Note 5)	2,153,890	2,153,276
Total capitalization	2,703,107	2,565,993
CURRENT LIABILITIES:
Short-term debt (Note 5)	231,773	166,655
Accounts payable	151,370	155,428
Accrued expenses	21,556	19,482
Accrued real estate and personal property taxes	21,365	17,712
Regulatory liabilities	30,174	28,169
Accrued interest	38,034	31,690
Customer deposits	31,503	30,719
Other current liabilities	12,108	12,623
Total current liabilities	537,883	462,478
DEFERRED CREDITS AND OTHER LONG-TERM LIABILITIES:
Regulatory liabilities	647,226	639,516
Deferred income taxes - net	413,949	397,394
Non-current income tax liability	7,168	7,147
Unamortized investment tax credit	3,603	3,910
Accrued pension and other postretirement benefits	62,270	80,734
Asset retirement obligations	57,799	58,986
Miscellaneous	1,799	1,011
Total deferred credits and other long-term liabilities	$ 1,193,814	$ 1,188,698
COMMITMENTS AND CONTINGENCIES
TOTAL	$ 4,434,804	$ 4,217,169

Unaudited Condensed Consolidat4

Unaudited Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Statement of Financial Position [Abstract]
Accounts receivable and unbilled revenue, allowance for doubtful accounts	$ 3,262	$ 2,498

Unaudited Condensed Consolidat5

Unaudited Condensed Consolidated Statements Of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
CASH FLOWS FROM OPERATIONS:
Net income	$ 27,405	$ 22,209
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	52,837	48,524
Amortization (deferral) of regulatory assets	1,395	(1,008)
Amortization of debt premium	30	264
Deferred income taxes and investment tax credit adjustments - net	12,942	12,177
Allowance for equity funds used during construction	(6,684)	(3,152)
Change in certain assets and liabilities:
Accounts receivable	(2,813)	848
Fuel, materials and supplies	6,874	(8,900)
Financial transmission rights	2,726	4,921
Accounts payable and accrued expenses	688	10,299
Accrued real estate and personal property taxes	3,653	5,066
Accrued interest	6,343	18,654
Pension and other postretirement benefit expenses	(18,464)	(26,579)
Short-term and long-term regulatory assets and liabilities	(10,544)	(2,233)
Prepaids and other current assets	(9,433)	(5,445)
Other - net	1,835	331
Net cash provided by operating activities	68,790	75,976
CASH FLOWS FROM INVESTING ACTIVITIES:
Capital expenditures - utility	(234,516)	(112,960)
Project development costs	(195)	(1,183)
Cost of removal, net of salvage	(5,556)	(1,811)
Other	(696)	(50)
Net cash used in investing activities	(240,963)	(116,004)
CASH FLOWS FROM FINANCING ACTIVITIES:
Short-term debt borrowings	148,000	77,000
Short-term debt repayments	(83,000)	(15,000)
Dividends on common stock	(24,500)	(18,247)
Issuance of common stock	134,276	2
Preferred dividends of subsidiary	(803)	(803)
Deferred financing costs paid	(45)	0
Retention payments on capital expenditures	(3,198)	(397)
Other	(154)	(202)
Net cash provided by financing activities	170,576	42,353
Net change in cash and cash equivalents	(1,597)	2,325
Cash and cash equivalents at beginning of period	21,521	26,933
Cash and cash equivalents at end of period	19,924	29,258
Cash paid during the period for:
Interest (net of amount capitalized)	14,655	6,766
Income taxes	0	0
Non-cash investing activities:
Accruals for capital expenditures	$ 81,371	$ 45,207

Overview and Summary Of Signifi

Overview and Summary Of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2016
Accounting Policies [Abstract]
Overview and Summary Of Significant Accounting Policies	OVERVIEW AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES 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 ( 82.35% ) and CDPQ ( 17.65% ). AES U.S. Investments is owned by AES U.S. Holdings, LLC ( 85% ) and CDPQ ( 15% ). As a result of this structure, CDPQ’s total direct and indirect interests in IPALCO total 30% . IPALCO owns all of the outstanding common stock of IPL. Substantially all of IPALCO’s business consists of generating, transmitting, distributing and selling of electric energy conducted through its principal subsidiary, IPL. IPL was incorporated under the laws of the state of Indiana in 1926. IPL has more than 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 four generating stations all within the state of Indiana. Our largest generating station, Petersburg, is coal-fired. The second largest station, Harding Street, is converting its coal-fired units to natural gas and uses natural gas and fuel oil to power combustion turbines. The third station, Eagle Valley, retired its coal-fired units in April 2016 and the CCGT at Eagle Valley is expected to be placed into service in April 2017. The fourth station, Georgetown, is a small peaking station that uses natural gas to power combustion turbines. As of March 31, 2016, IPL’s net electric generation capacity for winter is 3,259 MW and net summer capacity is 3,141 MW. Principles of Consolidation 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 2015 Form 10-K and should be read in conjunction therewith. 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. Reclassifications Certain prior period amounts have been reclassified to conform to the current year presentation. New Accounting Pronouncements The following table provides a brief description of recent accounting pronouncements that had and/or could have a material impact on the Company's consolidated financial statements: New Accounting Standards Adopted ASU Number and Name Description Date of Adoption Effect on the financial statements upon adoption 2015-15, Interest - Imputation of Interest (Subtopic 835-30): Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Arrangements Given the absence of authoritative guidance within ASU 2015-03, this standard clarifies that the SEC Staff would not object to an entity presenting debt issuance costs related to line-of-credit arrangements as an asset that is subsequently amortized ratably over the term of the line-of-credit arrangement, regardless of whether there are any outstanding borrowings on the line-of-credit arrangement. Transition method: retrospective. January 1, 2016 Deferred financing costs related to lines-of-credit of approximately $0.3 million recorded within Deferred Debits were not reclassified as of December 31, 2015. 2015-03, Interest - Imputation of Interest (Subtopic 835-30) The standard 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 standard. Transition method: retrospective. January 1, 2016 Deferred financing costs of approximately $20.8 million previously classified within Deferred Debits were reclassified to reduce the related debt liabilities as of December 31, 2015. 2015-02, Consolidation - Amendments to the Consolidation Analysis (Topic 810) The standard makes targeted amendments to the current consolidation guidance and ends the deferral granted to investment companies from applying the VIE guidance. The standard amends the evaluation of whether (1) fees paid to a decision-maker or service providers represent a variable interest, (2) a limited partnership or similar entity has the characteristics of a VIE and (3) a reporting entity is the primary beneficiary of a VIE. Transition method: retrospective. January 1, 2016 There were no changes to the consolidation conclusions. New Accounting Standards Issued But Not Yet Effective ASU Number and Name Description Date of Adoption Effect on the financial statements upon adoption 2016-10, Revenue from Contracts with Customers (Topic 606): Identifying Performance Obligations and Licensing This standard clarifies the following two aspects of Topic 606: identifying performance obligations and the licensing implementation guidance, while retaining the related principles for those areas. This standard reduces the cost and complexity of applying Topic 606 to the identification of promised goods or services, and it also includes implementation guidance on licensing. Transition method: a full retrospective or modified retrospective approach. January 1, 2018 (as deferred by ASU No. 2015-14). Earlier application is permitted only as of January 1, 2017. The Company is currently evaluating the impact of adopting the standard on its consolidated financial statements. 2016-09, Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting The standard simplifies the following aspects of accounting for share-based payment awards: accounting for income taxes, classification of excess tax benefits on the statement of cash flows, forfeitures, statutory tax withholding requirements, classification of awards as either equity or liabilities and classification of employee taxes paid on statement of cash flows when an employer withholds shares for tax-withholding purposes. Transition method: Various. January 1, 2017. Early adoption is permitted. The Company is currently evaluating the impact of adopting the standard on its consolidated financial statements. 2016-08, Revenue from Contracts with Customers (Topic 606) - Principal versus Agent Considerations (Reporting Revenue Gross versus Net) The standard clarifies how an entity should identify the unit of accounting for the principal versus agent evaluation and apply the control principle to certain types of arrangements. The amendments also re-frame the indicators to focus on evidence that an entity is acting as a principal rather than as an agent, revise existing examples and add new ones. Transition method: a full retrospective or modified retrospective approach. January 1, 2018 (as deferred by ASU No. 2015-14). Earlier application is permitted only as of January 1, 2017. The Company is currently evaluating the impact of adopting the standard on its consolidated financial statements. 2016-06, Derivatives and Hedging (Topic 815) - Contingent Put and Call Options in Debt Instruments This standard clarifies the requirements for assessing whether contingent call (put) options that can accelerate the payment of principal on debt instruments are clearly and closely related to their debt hosts. When a call (put) option is contingently exercisable, an entity will no longer assess whether the event that triggers the ability to exercise a call (put) option is related to interest rates or credit risks. Transition method: a modified retrospective basis to existing debt instruments as of the effective date. January 1, 2017. Early adoption is permitted. The Company is currently evaluating the impact of adopting the standard, but does not anticipate a material impact on its consolidated financial statements. 2016-05, Derivatives and Hedging (Topic 815) - Effect of Derivative Contract Novations on Existing Hedge Accounting Relationships The standard clarifies that a change in the counterparty to a derivative instrument that has been designated as the hedging instrument under Topic 815 does not require dedesignation of that hedging relationship provided that all other hedge accounting criteria (including those in paragraphs 815-20-35-14 through 35-18) continue to be met. Transition method: prospective or a modified retrospective basis. January 1, 2017. Early adoption is permitted. The Company is currently evaluating the impact of adopting the standard, but does not anticipate a material impact on its consolidated financial statements. 2016-02, Leases (Topic 842) The standard creates Topic 842, Leases which supersedes Topic 840, Leases, and introduces a lessee model that brings substantially all leases onto the balance sheet while retaining most of the principles of the existing lessor model in U.S. GAAP and aligning many of those principles with ASC 606, Revenue from Contracts with Customers. Transition method: modified retrospective approach with certain practical expedients. January 1, 2019. Early adoption is permitted. The Company is currently evaluating the impact of adopting the standard on its consolidated financial statements. 2016-01, Financial Instruments - Overall (Topic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities The standard significantly revises an entity’s accounting related to (1) the classification and measurement of investments in equity securities and (2) the presentation of certain fair value changes for financial liabilities measured at fair value. Also, it amends certain disclosure requirements associated with the fair value of financial instruments. Transition: cumulative effect in Retained Earnings as of adoption or prospectively for equity investments without readily determinable fair value. January 1, 2018. Limited early adoption permitted. The Company is currently evaluating the impact of adopting the standard, but does not anticipate a material impact on its consolidated financial statements. 2015-11, Inventory (Topic 330): Simplifying the Measurement of Inventory The standard replaces the current lower of cost or market test with a lower of cost or net realizable value test. Transition method: prospectively. January 1, 2017. Early adoption is permitted. The Company is currently evaluating the impact of adopting the standard on its consolidated financial statements. 2014-09, Revenue from Contracts with Customers (Topic 606) The standard provides a single and comprehensive revenue recognition model for all contracts with customers to improve comparability. The revenue standard contains principles that an entity will apply to determine the measurement of revenue and timing of when it is recognized. The standard requires an entity to recognize revenue to depict the transfer of goods or services to customers at an amount that the entity expects to be entitled to in exchange for those goods or services. Transition method: a full retrospective or modified retrospective approach. January 1, 2018 (as deferred by ASU No. 2015-14). Earlier application is permitted only as of January 1, 2017. The Company is currently evaluating the impact of adopting the standard on its consolidated financial statements.

Regulatory Matters

Regulatory Matters	3 Months Ended
	Mar. 31, 2016
Regulated Operations [Abstract]
Regulatory Matters	REGULATORY MATTERS In March 2016, the IURC issued an order authorizing IPL to increase its basic rates and charges by $30.8 million annually. The order also authorized IPL to collect, over a ten year period, $117.7 million of previously deferred regulatory assets related to IPL’s participation in the regional transmission organization known as MISO. Such deferred costs will be amortized to expense over ten years. Accordingly, $11.8 million of IPL's long-term MISO regulatory asset as of December 31, 2015 has been reclassified to current regulatory assets as of March 31, 2016 on the accompanying Unaudited Condensed Consolidated Balance Sheets. The rate order also authorized an increase in IPL’s depreciation rates of $24.3 million annually compared to the twelve months ended June 30, 2014, which is the period upon which the rate increase was calculated. IPL also received approval to implement three new rate riders for current recovery from customers of ongoing MISO costs, capacity costs and sharing of wholesale sales margins with customers at 50% . The order approved recovery of IPL's pension expenses and return on IPL's discretionary pension fundings. As part of the order, the IURC also noted that they found IPL’s Service Company cost allocations to be reasonable and directed IPL to request the FERC to review its Service Company allocations. The IURC also closed their investigation into IPL’s underground network. Some of the intervening parties in the IURC rate case have filed petitions for reconsideration of the IURC's March 2016 order with respect to certain issues. The IURC has not yet acted on those petitions. In addition, the Indiana Office of Utility Consumer Counselor and other intervening parties have filed notices of appeal of the order. The amounts of regulatory assets and regulatory liabilities are as follows: March 31, 2016 December 31, 2015 Recovery Period (In Thousands) Regulatory Assets Current: Environmental projects $ 8,245 $ 8,002 Approximately 1 year (1)(4) Deferred MISO Non-fuel costs 11,767 — Approximately 1 year (1) Other miscellaneous 2,185 — Approximately 1 year (1) Total current regulatory assets $ 22,197 $ 8,002 Long-term: Unrecognized pension and other postretirement benefit plan costs $ 222,293 $ 226,889 Various (2) Income taxes recoverable through rates 38,899 35,765 Various Deferred MISO costs 122,868 128,610 To be determined (1)(3) Unamortized Petersburg Unit 4 carrying charges and certain other costs 10,984 11,248 Through 2026 (1) (4) Unamortized reacquisition premium on debt 22,942 23,268 Over remaining life of debt Environmental projects 26,741 16,876 Through 2021 (1)(4) Other miscellaneous 3,567 5,544 To be determined (1)(5) Total long-term regulatory assets $ 448,294 $ 448,200 Total regulatory assets $ 470,491 $ 456,202 Regulatory Liabilities Current: Deferred fuel $ 27,627 $ 19,746 Approximately 1 year (1) FTRs 1,424 4,150 Approximately 1 year (1) DSM program costs 1,123 4,273 Approximately 1 year (1) Total current regulatory liabilities $ 30,174 $ 28,169 Long-term: ARO and accrued asset removal costs $ 644,968 $ 637,065 Not Applicable Unamortized investment tax credit 2,258 2,451 Through 2021 Total long-term regulatory liabilities $ 647,226 $ 639,516 Total regulatory liabilities $ 677,400 $ 667,685 (1) Recovered (credited) per specific rate orders (2) IPL receives a return on its discretionary funding (3) The majority of these costs are being recovered per specific rate order; for the remaining costs recovery is probable but timing not yet determined (4) Recovered with a current return (5) A portion of this amount will be recovered over the next two years

Fair Value

Fair Value	3 Months Ended
	Mar. 31, 2016
Fair Value Disclosures [Abstract]
Fair Value Measurements	FAIR VALUE 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, 2016 and December 31, 2015 , all of IPALCO’s financial assets or liabilities adjusted to fair value on a recurring basis (excluding pension assets – see Note 7, “ Benefit Plans ”) were considered Level 3, based on the above fair value hierarchy. These primarily consisted of FTRs, which are used to offset MISO congestion charges. Because the benefit associated with FTRs is a flow-through to IPL’s jurisdictional customers, IPL records a regulatory liability matching the value of the FTRs. 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. 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, 2016 and December 31, 2015 , ARO liabilities were $57.8 million and $59.0 million , respectively. Financial Instruments not Measured at Fair Value in the Consolidated Balance Sheets Debt 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. In certain circumstances, the market for such securities was inactive and therefore the valuation was adjusted to consider changes in market spreads for similar securities. Accordingly, the purpose of this disclosure is not 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 (Level 2) for the periods ending: March 31, 2016 December 31, 2015 Face Value Fair Value Face Value Fair Value (In Millions) Fixed-rate $ 2,088.4 $ 2,300.1 $ 2,088.4 $ 2,225.3 Variable-rate 321.9 321.9 256.9 256.9 Total indebtedness $ 2,410.3 $ 2,622.0 $ 2,345.3 $ 2,482.2 The difference between the face value and the carrying value of this indebtedness represents the following: • unamortized deferred financing costs of $20.0 million and $20.8 million at March 31, 2016 and December 31, 2015, respectively; and • unamortized discounts of $4.6 million at both March 31, 2016 and December 31, 2015 .

Equity

Equity	3 Months Ended
	Mar. 31, 2016
Equity [Abstract]
Equity	EQUITY On February 11, 2015, IPALCO issued and sold 100 shares of IPALCO’s common stock to CDPQ under the Subscription Agreement. On April 1, 2015, IPALCO issued and sold 11,818,828 shares of IPALCO’s common stock to CDPQ for $214.4 million under the Subscription Agreement. On March 1, 2016, IPALCO issued and sold 7,403,213 shares of IPALCO’s common stock to CDPQ for $134.3 million under the Subscription Agreement. IPALCO then made the same investments in IPL. The proceeds were primarily used for funding needs related to IPL’s environmental and replacement generation projects. After completion of these transactions, CDPQ's direct and indirect interests in IPALCO total 30% .

Debt

Debt	3 Months Ended
	Mar. 31, 2016
Debt Disclosure [Abstract]
Indebtedness	DEBT Long-Term Debt The following table presents our long-term debt: March 31, December 31, Series Due 2016 2015 (In Thousands) IPL first mortgage bonds (see below): 5.40% (1) August 2017 $ 24,650 $ 24,650 3.875% (2) August 2021 55,000 55,000 3.875% (2) August 2021 40,000 40,000 4.55% (2) December 2024 40,000 40,000 6.60% January 2034 100,000 100,000 6.05% October 2036 158,800 158,800 6.60% June 2037 165,000 165,000 4.875% November 2041 140,000 140,000 4.65% June 2043 170,000 170,000 4.50% June 2044 130,000 130,000 4.70% September 2045 260,000 260,000 Unamortized discount – net (4,223 ) (4,242 ) Deferred financing costs (3) (13,554 ) (13,703 ) Total IPL first mortgage bonds 1,265,673 1,265,505 IPL unsecured debt: Variable (4) December 2020 30,000 30,000 Variable (4) December 2020 60,000 60,000 Total IPL unsecured debt 90,000 90,000 Total Long-term Debt – IPL 1,355,673 1,355,505 Long-term Debt – IPALCO: 5.00% Senior Secured Notes May 2018 400,000 400,000 3.45% Senior Secured Notes July 2020 405,000 405,000 Unamortized discount – net (360 ) (371 ) Deferred financing costs (3) (6,423 ) (6,858 ) Total Long-term Debt – IPALCO 798,217 797,771 Total Consolidated IPALCO Long-term Debt 2,153,890 2,153,276 Less: Current Portion of Long-term Debt — — Net Consolidated IPALCO Long-term Debt $ 2,153,890 $ 2,153,276 (1) 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. (2) 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. (3) The Company adopted ASU No. 2015-03 on January 1, 2016, which requires the use of the full retrospective approach with respect to the presentation of debt issuance costs, including deferred charges. (4) Unsecured notes are issued to the Indiana Finance Authority by IPL to facilitate the loan of proceeds from various tax-exempt notes issued by the Indiana Finance Authority. The notes have a final maturity date of December 2038, but are subject to a mandatory put in December 2020. Line of Credit IPL entered into an amendment and restatement of its 5 -year $250 million revolving credit facility in May 2014, and a further amendment and extension of the credit facility on October 16, 2015 (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 October 16, 2020 , 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 prior to October 16, 2019, 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, 2016 and December 31, 2015 , IPL had $140.0 million and $75.0 million , in outstanding borrowings on the committed line of credit, respectively.

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2016
Income Tax Disclosure [Abstract]
Income Taxes	INCOME TAXES IPALCO’s effective combined state and federal income tax rate was 32.7% for the three months ended March 31, 2016, as compared to 36.3% for the three months ended March 31, 2015. The decrease in the effective tax rate was primarily the result of an increase in the allowance for equity funds used during construction in 2016 and the deduction for the manufacturer's production deduction (Internal Revenue Code Section 199) that had been previously disallowed due to a Net Operating Loss carryover.

Benefit Plans

Benefit Plans	3 Months Ended
	Mar. 31, 2016
Compensation and Retirement Disclosure [Abstract]
Benefit Plans	BENEFIT PLANS The following table (in thousands) presents information for the three months ended March 31, 2016 , relating to the Pension Plans: Net unfunded status of plans: Net unfunded status at December 31, 2015, before tax adjustments $ (76,314 ) Net benefit cost components reflected in net unfunded status during first quarter: Service cost (1,754 ) Interest cost (6,454 ) Expected return on assets 10,873 Employer contributions 15,900 Net unfunded status at March 31, 2016, before tax adjustments $ (57,749 ) Regulatory assets related to pensions (1) : Regulatory assets at December 31, 2015, before tax adjustments $ 235,094 Amount reclassified through net benefit cost: Amortization of prior service cost (1,296 ) Amortization of net actuarial loss (3,474 ) Regulatory assets at March 31, 2016, before tax adjustments $ 230,324 (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, 2016 2015 (In Thousands) Components of net periodic benefit cost: Service cost $ 1,754 $ 2,079 Interest cost 6,454 7,408 Expected return on plan assets (10,873 ) (11,206 ) Amortization of prior service cost 1,296 1,216 Amortization of actuarial loss 3,474 3,475 Net periodic benefit cost $ 2,105 $ 2,972 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 were $4.6 million and $4.5 million at March 31, 2016 and December 31, 2015 , 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, 2016
Commitments and Contingencies Disclosure [Abstract]
Commitments And Contingencies	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 and 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 at the time, 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, but not fines or penalties, related to air pollution control technology to reduce regulated air emissions; however, there can be no assurances that we would be successful in this regard. IPL has recorded a contingent liability related to this matter.

Related Party Transactions

Related Party Transactions	3 Months Ended
	Mar. 31, 2016
Related Party Transactions [Abstract]
Related Party Transactions	RELATED PARTY TRANSACTIONS Service Company Effective January 1, 2014, the Service Company began providing services including operations, 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 $6.2 million and $6.0 million during the three-month periods ended March 31, 2016 and 2015 , respectively. Total costs incurred by IPALCO on behalf of the Service Company were $1.9 million and $1.7 million during the three-month periods ended March 31, 2016 and 2015 , respectively. IPALCO had a prepaid balance with the Service Company of $4.8 million and $1.2 million as of March 31, 2016 and December 31, 2015 , respectively. CDPQ Please refer to Note 4, “Equity” for further details. Other In 2014, IPL engaged a third party vendor as part of its replacement generation construction projects. A member of the AES Board of Directors is also currently a member of the Supervisory Board of this vendor. IPL had billings from this vendor of $99.0 million and $37.3 million during the three-month periods ended March 31, 2016 and 2015, respectively. IPL had a payable balance to this vendor of $29.6 million and $34.0 million as of March 31, 2016 and December 31, 2015, respectively.

Segment Information

Segment Information	3 Months Ended
	Mar. 31, 2016
Segment Reporting [Abstract]
Segment Information	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 2018 IPALCO Notes and the 2020 IPALCO Notes; approximately $2.0 million and $1.7 million of cash and cash equivalents, as of March 31, 2016 and December 31, 2015 , respectively; long-term investments of $5.0 million and $5.2 million at March 31, 2016 and December 31, 2015 , respectively; and income taxes, deferred taxes, and interest related to those items. All other non-utility assets represented less than 1% of IPALCO’s total assets as of March 31, 2016 and December 31, 2015 . Net income for the utility segment was $33.6 million and $29.7 million for the three-month periods ended March 31, 2016 and 2015 , 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.

Overview and Summary Of Signi16

Overview and Summary Of Significant Accounting Policies (Policy)	3 Months Ended
	Mar. 31, 2016
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.
Reclassifications	Reclassifications Certain prior period amounts have been reclassified to conform to the current year presentation.
New Accounting Pronouncements	New Accounting Pronouncements The following table provides a brief description of recent accounting pronouncements that had and/or could have a material impact on the Company's consolidated financial statements: New Accounting Standards Adopted ASU Number and Name Description Date of Adoption Effect on the financial statements upon adoption 2015-15, Interest - Imputation of Interest (Subtopic 835-30): Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Arrangements Given the absence of authoritative guidance within ASU 2015-03, this standard clarifies that the SEC Staff would not object to an entity presenting debt issuance costs related to line-of-credit arrangements as an asset that is subsequently amortized ratably over the term of the line-of-credit arrangement, regardless of whether there are any outstanding borrowings on the line-of-credit arrangement. Transition method: retrospective. January 1, 2016 Deferred financing costs related to lines-of-credit of approximately $0.3 million recorded within Deferred Debits were not reclassified as of December 31, 2015. 2015-03, Interest - Imputation of Interest (Subtopic 835-30) The standard 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 standard. Transition method: retrospective. January 1, 2016 Deferred financing costs of approximately $20.8 million previously classified within Deferred Debits were reclassified to reduce the related debt liabilities as of December 31, 2015. 2015-02, Consolidation - Amendments to the Consolidation Analysis (Topic 810) The standard makes targeted amendments to the current consolidation guidance and ends the deferral granted to investment companies from applying the VIE guidance. The standard amends the evaluation of whether (1) fees paid to a decision-maker or service providers represent a variable interest, (2) a limited partnership or similar entity has the characteristics of a VIE and (3) a reporting entity is the primary beneficiary of a VIE. Transition method: retrospective. January 1, 2016 There were no changes to the consolidation conclusions. New Accounting Standards Issued But Not Yet Effective ASU Number and Name Description Date of Adoption Effect on the financial statements upon adoption 2016-10, Revenue from Contracts with Customers (Topic 606): Identifying Performance Obligations and Licensing This standard clarifies the following two aspects of Topic 606: identifying performance obligations and the licensing implementation guidance, while retaining the related principles for those areas. This standard reduces the cost and complexity of applying Topic 606 to the identification of promised goods or services, and it also includes implementation guidance on licensing. Transition method: a full retrospective or modified retrospective approach. January 1, 2018 (as deferred by ASU No. 2015-14). Earlier application is permitted only as of January 1, 2017. The Company is currently evaluating the impact of adopting the standard on its consolidated financial statements. 2016-09, Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting The standard simplifies the following aspects of accounting for share-based payment awards: accounting for income taxes, classification of excess tax benefits on the statement of cash flows, forfeitures, statutory tax withholding requirements, classification of awards as either equity or liabilities and classification of employee taxes paid on statement of cash flows when an employer withholds shares for tax-withholding purposes. Transition method: Various. January 1, 2017. Early adoption is permitted. The Company is currently evaluating the impact of adopting the standard on its consolidated financial statements. 2016-08, Revenue from Contracts with Customers (Topic 606) - Principal versus Agent Considerations (Reporting Revenue Gross versus Net) The standard clarifies how an entity should identify the unit of accounting for the principal versus agent evaluation and apply the control principle to certain types of arrangements. The amendments also re-frame the indicators to focus on evidence that an entity is acting as a principal rather than as an agent, revise existing examples and add new ones. Transition method: a full retrospective or modified retrospective approach. January 1, 2018 (as deferred by ASU No. 2015-14). Earlier application is permitted only as of January 1, 2017. The Company is currently evaluating the impact of adopting the standard on its consolidated financial statements. 2016-06, Derivatives and Hedging (Topic 815) - Contingent Put and Call Options in Debt Instruments This standard clarifies the requirements for assessing whether contingent call (put) options that can accelerate the payment of principal on debt instruments are clearly and closely related to their debt hosts. When a call (put) option is contingently exercisable, an entity will no longer assess whether the event that triggers the ability to exercise a call (put) option is related to interest rates or credit risks. Transition method: a modified retrospective basis to existing debt instruments as of the effective date. January 1, 2017. Early adoption is permitted. The Company is currently evaluating the impact of adopting the standard, but does not anticipate a material impact on its consolidated financial statements. 2016-05, Derivatives and Hedging (Topic 815) - Effect of Derivative Contract Novations on Existing Hedge Accounting Relationships The standard clarifies that a change in the counterparty to a derivative instrument that has been designated as the hedging instrument under Topic 815 does not require dedesignation of that hedging relationship provided that all other hedge accounting criteria (including those in paragraphs 815-20-35-14 through 35-18) continue to be met. Transition method: prospective or a modified retrospective basis. January 1, 2017. Early adoption is permitted. The Company is currently evaluating the impact of adopting the standard, but does not anticipate a material impact on its consolidated financial statements. 2016-02, Leases (Topic 842) The standard creates Topic 842, Leases which supersedes Topic 840, Leases, and introduces a lessee model that brings substantially all leases onto the balance sheet while retaining most of the principles of the existing lessor model in U.S. GAAP and aligning many of those principles with ASC 606, Revenue from Contracts with Customers. Transition method: modified retrospective approach with certain practical expedients. January 1, 2019. Early adoption is permitted. The Company is currently evaluating the impact of adopting the standard on its consolidated financial statements. 2016-01, Financial Instruments - Overall (Topic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities The standard significantly revises an entity’s accounting related to (1) the classification and measurement of investments in equity securities and (2) the presentation of certain fair value changes for financial liabilities measured at fair value. Also, it amends certain disclosure requirements associated with the fair value of financial instruments. Transition: cumulative effect in Retained Earnings as of adoption or prospectively for equity investments without readily determinable fair value. January 1, 2018. Limited early adoption permitted. The Company is currently evaluating the impact of adopting the standard, but does not anticipate a material impact on its consolidated financial statements. 2015-11, Inventory (Topic 330): Simplifying the Measurement of Inventory The standard replaces the current lower of cost or market test with a lower of cost or net realizable value test. Transition method: prospectively. January 1, 2017. Early adoption is permitted. The Company is currently evaluating the impact of adopting the standard on its consolidated financial statements. 2014-09, Revenue from Contracts with Customers (Topic 606) The standard provides a single and comprehensive revenue recognition model for all contracts with customers to improve comparability. The revenue standard contains principles that an entity will apply to determine the measurement of revenue and timing of when it is recognized. The standard requires an entity to recognize revenue to depict the transfer of goods or services to customers at an amount that the entity expects to be entitled to in exchange for those goods or services. Transition method: a full retrospective or modified retrospective approach. January 1, 2018 (as deferred by ASU No. 2015-14). Earlier application is permitted only as of January 1, 2017. The Company is currently evaluating the impact of adopting the standard on its consolidated financial statements.

Overview and Summary Of Signi17

Overview and Summary Of Significant Accounting Policies (Tables)	3 Months Ended
	Mar. 31, 2016
Accounting Policies [Abstract]
Schedule of New Accounting Pronouncements	The following table provides a brief description of recent accounting pronouncements that had and/or could have a material impact on the Company's consolidated financial statements: New Accounting Standards Adopted ASU Number and Name Description Date of Adoption Effect on the financial statements upon adoption 2015-15, Interest - Imputation of Interest (Subtopic 835-30): Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Arrangements Given the absence of authoritative guidance within ASU 2015-03, this standard clarifies that the SEC Staff would not object to an entity presenting debt issuance costs related to line-of-credit arrangements as an asset that is subsequently amortized ratably over the term of the line-of-credit arrangement, regardless of whether there are any outstanding borrowings on the line-of-credit arrangement. Transition method: retrospective. January 1, 2016 Deferred financing costs related to lines-of-credit of approximately $0.3 million recorded within Deferred Debits were not reclassified as of December 31, 2015. 2015-03, Interest - Imputation of Interest (Subtopic 835-30) The standard 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 standard. Transition method: retrospective. January 1, 2016 Deferred financing costs of approximately $20.8 million previously classified within Deferred Debits were reclassified to reduce the related debt liabilities as of December 31, 2015. 2015-02, Consolidation - Amendments to the Consolidation Analysis (Topic 810) The standard makes targeted amendments to the current consolidation guidance and ends the deferral granted to investment companies from applying the VIE guidance. The standard amends the evaluation of whether (1) fees paid to a decision-maker or service providers represent a variable interest, (2) a limited partnership or similar entity has the characteristics of a VIE and (3) a reporting entity is the primary beneficiary of a VIE. Transition method: retrospective. January 1, 2016 There were no changes to the consolidation conclusions. New Accounting Standards Issued But Not Yet Effective ASU Number and Name Description Date of Adoption Effect on the financial statements upon adoption 2016-10, Revenue from Contracts with Customers (Topic 606): Identifying Performance Obligations and Licensing This standard clarifies the following two aspects of Topic 606: identifying performance obligations and the licensing implementation guidance, while retaining the related principles for those areas. This standard reduces the cost and complexity of applying Topic 606 to the identification of promised goods or services, and it also includes implementation guidance on licensing. Transition method: a full retrospective or modified retrospective approach. January 1, 2018 (as deferred by ASU No. 2015-14). Earlier application is permitted only as of January 1, 2017. The Company is currently evaluating the impact of adopting the standard on its consolidated financial statements. 2016-09, Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting The standard simplifies the following aspects of accounting for share-based payment awards: accounting for income taxes, classification of excess tax benefits on the statement of cash flows, forfeitures, statutory tax withholding requirements, classification of awards as either equity or liabilities and classification of employee taxes paid on statement of cash flows when an employer withholds shares for tax-withholding purposes. Transition method: Various. January 1, 2017. Early adoption is permitted. The Company is currently evaluating the impact of adopting the standard on its consolidated financial statements. 2016-08, Revenue from Contracts with Customers (Topic 606) - Principal versus Agent Considerations (Reporting Revenue Gross versus Net) The standard clarifies how an entity should identify the unit of accounting for the principal versus agent evaluation and apply the control principle to certain types of arrangements. The amendments also re-frame the indicators to focus on evidence that an entity is acting as a principal rather than as an agent, revise existing examples and add new ones. Transition method: a full retrospective or modified retrospective approach. January 1, 2018 (as deferred by ASU No. 2015-14). Earlier application is permitted only as of January 1, 2017. The Company is currently evaluating the impact of adopting the standard on its consolidated financial statements. 2016-06, Derivatives and Hedging (Topic 815) - Contingent Put and Call Options in Debt Instruments This standard clarifies the requirements for assessing whether contingent call (put) options that can accelerate the payment of principal on debt instruments are clearly and closely related to their debt hosts. When a call (put) option is contingently exercisable, an entity will no longer assess whether the event that triggers the ability to exercise a call (put) option is related to interest rates or credit risks. Transition method: a modified retrospective basis to existing debt instruments as of the effective date. January 1, 2017. Early adoption is permitted. The Company is currently evaluating the impact of adopting the standard, but does not anticipate a material impact on its consolidated financial statements. 2016-05, Derivatives and Hedging (Topic 815) - Effect of Derivative Contract Novations on Existing Hedge Accounting Relationships The standard clarifies that a change in the counterparty to a derivative instrument that has been designated as the hedging instrument under Topic 815 does not require dedesignation of that hedging relationship provided that all other hedge accounting criteria (including those in paragraphs 815-20-35-14 through 35-18) continue to be met. Transition method: prospective or a modified retrospective basis. January 1, 2017. Early adoption is permitted. The Company is currently evaluating the impact of adopting the standard, but does not anticipate a material impact on its consolidated financial statements. 2016-02, Leases (Topic 842) The standard creates Topic 842, Leases which supersedes Topic 840, Leases, and introduces a lessee model that brings substantially all leases onto the balance sheet while retaining most of the principles of the existing lessor model in U.S. GAAP and aligning many of those principles with ASC 606, Revenue from Contracts with Customers. Transition method: modified retrospective approach with certain practical expedients. January 1, 2019. Early adoption is permitted. The Company is currently evaluating the impact of adopting the standard on its consolidated financial statements. 2016-01, Financial Instruments - Overall (Topic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities The standard significantly revises an entity’s accounting related to (1) the classification and measurement of investments in equity securities and (2) the presentation of certain fair value changes for financial liabilities measured at fair value. Also, it amends certain disclosure requirements associated with the fair value of financial instruments. Transition: cumulative effect in Retained Earnings as of adoption or prospectively for equity investments without readily determinable fair value. January 1, 2018. Limited early adoption permitted. The Company is currently evaluating the impact of adopting the standard, but does not anticipate a material impact on its consolidated financial statements. 2015-11, Inventory (Topic 330): Simplifying the Measurement of Inventory The standard replaces the current lower of cost or market test with a lower of cost or net realizable value test. Transition method: prospectively. January 1, 2017. Early adoption is permitted. The Company is currently evaluating the impact of adopting the standard on its consolidated financial statements. 2014-09, Revenue from Contracts with Customers (Topic 606) The standard provides a single and comprehensive revenue recognition model for all contracts with customers to improve comparability. The revenue standard contains principles that an entity will apply to determine the measurement of revenue and timing of when it is recognized. The standard requires an entity to recognize revenue to depict the transfer of goods or services to customers at an amount that the entity expects to be entitled to in exchange for those goods or services. Transition method: a full retrospective or modified retrospective approach. January 1, 2018 (as deferred by ASU No. 2015-14). Earlier application is permitted only as of January 1, 2017. The Company is currently evaluating the impact of adopting the standard on its consolidated financial statements.

Regulatory Matters (Tables)

Regulatory Matters (Tables)	3 Months Ended
	Mar. 31, 2016
Regulated Operations [Abstract]
Schedule Of Regulatory Assets And Liabilities	The amounts of regulatory assets and regulatory liabilities are as follows: March 31, 2016 December 31, 2015 Recovery Period (In Thousands) Regulatory Assets Current: Environmental projects $ 8,245 $ 8,002 Approximately 1 year (1)(4) Deferred MISO Non-fuel costs 11,767 — Approximately 1 year (1) Other miscellaneous 2,185 — Approximately 1 year (1) Total current regulatory assets $ 22,197 $ 8,002 Long-term: Unrecognized pension and other postretirement benefit plan costs $ 222,293 $ 226,889 Various (2) Income taxes recoverable through rates 38,899 35,765 Various Deferred MISO costs 122,868 128,610 To be determined (1)(3) Unamortized Petersburg Unit 4 carrying charges and certain other costs 10,984 11,248 Through 2026 (1) (4) Unamortized reacquisition premium on debt 22,942 23,268 Over remaining life of debt Environmental projects 26,741 16,876 Through 2021 (1)(4) Other miscellaneous 3,567 5,544 To be determined (1)(5) Total long-term regulatory assets $ 448,294 $ 448,200 Total regulatory assets $ 470,491 $ 456,202 Regulatory Liabilities Current: Deferred fuel $ 27,627 $ 19,746 Approximately 1 year (1) FTRs 1,424 4,150 Approximately 1 year (1) DSM program costs 1,123 4,273 Approximately 1 year (1) Total current regulatory liabilities $ 30,174 $ 28,169 Long-term: ARO and accrued asset removal costs $ 644,968 $ 637,065 Not Applicable Unamortized investment tax credit 2,258 2,451 Through 2021 Total long-term regulatory liabilities $ 647,226 $ 639,516 Total regulatory liabilities $ 677,400 $ 667,685 (1) Recovered (credited) per specific rate orders (2) IPL receives a return on its discretionary funding (3) The majority of these costs are being recovered per specific rate order; for the remaining costs recovery is probable but timing not yet determined (4) Recovered with a current return (5) A portion of this amount will be recovered over the next two years

Fair Value (Tables)

Fair Value (Tables)	3 Months Ended
	Mar. 31, 2016
Fair Value Disclosures [Abstract]
Schedule Of Face And Fair Value Of Debt	The following table shows the face value and the fair value of fixed-rate and variable-rate indebtedness (Level 2) for the periods ending: March 31, 2016 December 31, 2015 Face Value Fair Value Face Value Fair Value (In Millions) Fixed-rate $ 2,088.4 $ 2,300.1 $ 2,088.4 $ 2,225.3 Variable-rate 321.9 321.9 256.9 256.9 Total indebtedness $ 2,410.3 $ 2,622.0 $ 2,345.3 $ 2,482.2

Debt (Tables)

Debt (Tables)	3 Months Ended
	Mar. 31, 2016
Debt Disclosure [Abstract]
Schedule Long-Term Indebtedness	The following table presents our long-term debt: March 31, December 31, Series Due 2016 2015 (In Thousands) IPL first mortgage bonds (see below): 5.40% (1) August 2017 $ 24,650 $ 24,650 3.875% (2) August 2021 55,000 55,000 3.875% (2) August 2021 40,000 40,000 4.55% (2) December 2024 40,000 40,000 6.60% January 2034 100,000 100,000 6.05% October 2036 158,800 158,800 6.60% June 2037 165,000 165,000 4.875% November 2041 140,000 140,000 4.65% June 2043 170,000 170,000 4.50% June 2044 130,000 130,000 4.70% September 2045 260,000 260,000 Unamortized discount – net (4,223 ) (4,242 ) Deferred financing costs (3) (13,554 ) (13,703 ) Total IPL first mortgage bonds 1,265,673 1,265,505 IPL unsecured debt: Variable (4) December 2020 30,000 30,000 Variable (4) December 2020 60,000 60,000 Total IPL unsecured debt 90,000 90,000 Total Long-term Debt – IPL 1,355,673 1,355,505 Long-term Debt – IPALCO: 5.00% Senior Secured Notes May 2018 400,000 400,000 3.45% Senior Secured Notes July 2020 405,000 405,000 Unamortized discount – net (360 ) (371 ) Deferred financing costs (3) (6,423 ) (6,858 ) Total Long-term Debt – IPALCO 798,217 797,771 Total Consolidated IPALCO Long-term Debt 2,153,890 2,153,276 Less: Current Portion of Long-term Debt — — Net Consolidated IPALCO Long-term Debt $ 2,153,890 $ 2,153,276 (1) 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. (2) 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. (3) The Company adopted ASU No. 2015-03 on January 1, 2016, which requires the use of the full retrospective approach with respect to the presentation of debt issuance costs, including deferred charges. (4) Unsecured notes are issued to the Indiana Finance Authority by IPL to facilitate the loan of proceeds from various tax-exempt notes issued by the Indiana Finance Authority. The notes have a final maturity date of December 2038, but are subject to a mandatory put in December 2020.

Benefit Plans (Tables)

Benefit Plans (Tables)	3 Months Ended
	Mar. 31, 2016
Compensation and Retirement Disclosure [Abstract]
Schedule Of Defined Benefit Plans Disclosures	The following table (in thousands) presents information for the three months ended March 31, 2016 , relating to the Pension Plans: Net unfunded status of plans: Net unfunded status at December 31, 2015, before tax adjustments $ (76,314 ) Net benefit cost components reflected in net unfunded status during first quarter: Service cost (1,754 ) Interest cost (6,454 ) Expected return on assets 10,873 Employer contributions 15,900 Net unfunded status at March 31, 2016, before tax adjustments $ (57,749 ) Regulatory assets related to pensions (1) : Regulatory assets at December 31, 2015, before tax adjustments $ 235,094 Amount reclassified through net benefit cost: Amortization of prior service cost (1,296 ) Amortization of net actuarial loss (3,474 ) Regulatory assets at March 31, 2016, before tax adjustments $ 230,324 (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	The following table presents net periodic benefit cost information relating to the Pension Plans combined: For the Three Months Ended, March 31, 2016 2015 (In Thousands) Components of net periodic benefit cost: Service cost $ 1,754 $ 2,079 Interest cost 6,454 7,408 Expected return on plan assets (10,873 ) (11,206 ) Amortization of prior service cost 1,296 1,216 Amortization of actuarial loss 3,474 3,475 Net periodic benefit cost $ 2,105 $ 2,972

Overview and Summary of Signi22

Overview and Summary of Significant Accounting Policies (Details) customer in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2016USD ($)customergenerating_stationmiMW	Dec. 31, 2015USD ($)
Debt Instrument [Line Items]
Distance of furthest customer from Indianapolis | mi	40
Number of generating stations | generating_station	4
Deferred financing costs	$ 20,000	$ 20,800
Adjustments for New Accounting Pronouncement [Member]
Debt Instrument [Line Items]
Deferred financing costs		(20,800)
Aes U.S. Investments [Member]
Debt Instrument [Line Items]
Ownership percentage by parent (percent)	82.35%
CDPQ [Member]
Debt Instrument [Line Items]
Ownership percentage by parent (percent)	17.65%
Ownership interest in parent company (percent)	15.00%
Percentage of direct and indirect ownership share of IPALCO	30.00%
AES U.S. Holdings, LLC [Member]
Debt Instrument [Line Items]
Ownership interest in parent company (percent)	85.00%
Indianapolis Power And Light Company [Member]
Debt Instrument [Line Items]
Number of customers | customer	480
Electric generation capability for winter, megawatts | MW	3,259
Electric generation capability for summer, megawatts | MW	3,141
Deferred financing costs	$ 13,554	13,703
Deferred Debits [Member] | Line of Credit [Member]
Debt Instrument [Line Items]
Deferred financing costs		$ 300

Regulatory Matters (Details)

Regulatory Matters (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2016	Dec. 31, 2015
Regulatory Matters [Line Items]
Approved increase to basic rates and charges	$ 30,800
Wholesale sales margins, percent shared with customers	50.00%
Total current regulatory assets	$ 22,197	$ 22,197	$ 8,002
Total long-term regulatory assets	448,294	448,294	448,200
Total regulatory assets	470,491	470,491	456,202
Total current regulatory liabilities	30,174	30,174	28,169
Total long-term regulatory liabilities	647,226	647,226	639,516
Total regulatory liabilities	677,400	677,400	667,685
Deferred fuel [Member]
Regulatory Matters [Line Items]
Total current regulatory liabilities	27,627	$ 27,627	19,746
Regulatory liability recovery period		1 year
FTRs [Member]
Regulatory Matters [Line Items]
Total current regulatory liabilities	1,424	$ 1,424	4,150
Regulatory liability recovery period		1 year
DSM program costs [Member]
Regulatory Matters [Line Items]
Total current regulatory liabilities	1,123	$ 1,123	4,273
Regulatory liability recovery period		1 year
ARO and accrual asset removal costs [Member]
Regulatory Matters [Line Items]
Total long-term regulatory liabilities	644,968	$ 644,968	637,065
Unamortized investment tax credit [Member]
Regulatory Matters [Line Items]
Total long-term regulatory liabilities	2,258	2,258	2,451
Environmental projects [Member]
Regulatory Matters [Line Items]
Total current regulatory assets	8,245	8,245	8,002
Total long-term regulatory assets	26,741	$ 26,741	16,876
Regulatory asset recovery period		1 year
Deferred MISO Non-fuel Costs [Member]
Regulatory Matters [Line Items]
Total current regulatory assets	11,767	$ 11,767	0
Regulatory asset recovery period		1 year
Other miscellaneous [Member]
Regulatory Matters [Line Items]
Total current regulatory assets	2,185	$ 2,185	0
Total long-term regulatory assets	3,567	$ 3,567	5,544
Regulatory asset recovery period		1 year
Unrecognized oension and other postretirement benefit plan costs [Member]
Regulatory Matters [Line Items]
Total long-term regulatory assets	222,293	$ 222,293	226,889
Income taxes recoverable through rates [Member]
Regulatory Matters [Line Items]
Total long-term regulatory assets	38,899	38,899	35,765
Deferred MISO Costs [Member]
Regulatory Matters [Line Items]
Total long-term regulatory assets	122,868	122,868	128,610
Total regulatory assets	117,700	117,700
Unamortized Petersburg Unit 4 carrying charges and certain other costs [Member]
Regulatory Matters [Line Items]
Total long-term regulatory assets	10,984	10,984	11,248
Unamortized reacquisition premium on debt [Member]
Regulatory Matters [Line Items]
Total long-term regulatory assets	22,942	$ 22,942	$ 23,268
LT - Other Miscellaneous [Member]
Regulatory Matters [Line Items]
Regulatory asset recovery period		2 years
Increase to Annual Depreciation Rate [Member]
Regulatory Matters [Line Items]
Approved increase to basic rates and charges	$ 24,300

Fair Value (Narrative) (Details

Fair Value (Narrative) (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Fair Value Disclosures [Abstract]
Asset retirement obligations	$ 57,799	$ 58,986
Unamortized deferred financing costs	20,000	20,800
Unamortized debt discount	$ 4,600	$ 4,600

Fair Value (Schedule Of Face An

Fair Value (Schedule Of Face And Fair Value Of Debt) (Details) - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
Face Value	$ 2,410.3	$ 2,345.3
Fair Value	2,622	2,482.2
Fixed Rate [Member]
Debt Instrument [Line Items]
Face Value	2,088.4	2,088.4
Fair Value	2,300.1	2,225.3
Variable Rate [Member]
Debt Instrument [Line Items]
Face Value	321.9	256.9
Fair Value	$ 321.9	$ 256.9

Equity (Details)

Equity (Details) - USD ($) $ in Millions	Mar. 01, 2016	Apr. 01, 2015	Feb. 11, 2015	Mar. 31, 2016
Common Stock [Member]
Class of Stock [Line Items]
Number of shares issued and sold (shares)	7,403,213	11,818,828	100
Value of shares issued and sold	$ 134.3	$ 214.4
CDPQ [Member]
Class of Stock [Line Items]
Percentage of direct and indirect ownership share of IPALCO				30.00%

Debt (Schedule Long-Term Indebt

Debt (Schedule Long-Term Indebtedness) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
Unamortized discount - net	$ (4,600)	$ (4,600)
Deferred financing costs	(20,000)	(20,800)
Long-term debt	2,153,890	2,153,276
Less: Current Portion of Long-term Debt	0	0
Net Consolidated IPALCO Long-term Debt	2,153,890	2,153,276
Indianapolis Power And Light Company [Member]
Debt Instrument [Line Items]
First mortgage bonds	1,265,673	1,265,505
Unamortized discount - net	(4,223)	(4,242)
Deferred financing costs	(13,554)	(13,703)
Long-term debt	1,355,673	1,355,505
Unsecured Debt	$ 90,000	90,000
Indianapolis Power And Light Company [Member] | First Mortgage Bond 5.40% Due August 2017 [Member]
Debt Instrument [Line Items]
Debt, stated interest rate	5.40%
Debt due date	Aug. 1, 2017
First mortgage bonds	$ 24,650	24,650
Indianapolis Power And Light Company [Member] | First Mortgage Bond 3.875% Due August 2021 [Member]
Debt Instrument [Line Items]
Debt, stated interest rate	3.875%
Debt due date	Aug. 1, 2021
First mortgage bonds	$ 55,000	55,000
Indianapolis Power And Light Company [Member] | First Mortgage Bond 3.875% Due August 2021 [Member]
Debt Instrument [Line Items]
Debt, stated interest rate	3.875%
Debt due date	Aug. 1, 2021
First mortgage bonds	$ 40,000	40,000
Indianapolis Power And Light Company [Member] | First Mortgage Bond 4.55% Due December 2024 [Member]
Debt Instrument [Line Items]
Debt, stated interest rate	4.55%
Debt due date	Dec. 1, 2024
First mortgage bonds	$ 40,000	40,000
Indianapolis Power And Light Company [Member] | First Mortgage Bond 6.60% Due January 2034 [Member]
Debt Instrument [Line Items]
Debt, stated interest rate	6.60%
Debt due date	Jan. 1, 2034
First mortgage bonds	$ 100,000	100,000
Indianapolis Power And Light Company [Member] | First Mortgage Bond 6.05% Due October 2036 [Member]
Debt Instrument [Line Items]
Debt, stated interest rate	6.05%
Debt due date	Oct. 1, 2036
First mortgage bonds	$ 158,800	158,800
Indianapolis Power And Light Company [Member] | First Mortgage Bond 6.60% Due June 2037 [Member]
Debt Instrument [Line Items]
Debt, stated interest rate	6.60%
Debt due date	Jun. 1, 2037
First mortgage bonds	$ 165,000	165,000
Indianapolis Power And Light Company [Member] | First Mortgage Bond 4.875% Due November 2041 [Member]
Debt Instrument [Line Items]
Debt, stated interest rate	4.875%
Debt due date	Nov. 1, 2041
First mortgage bonds	$ 140,000	140,000
Indianapolis Power And Light Company [Member] | First Mortgage Bond 4.65% Due June 2043 [Member]
Debt Instrument [Line Items]
Debt, stated interest rate	4.65%
Debt due date	Jun. 1, 2043
First mortgage bonds	$ 170,000	170,000
Indianapolis Power And Light Company [Member] | First Mortgage Bond 4.50% Due June 2044[Member]
Debt Instrument [Line Items]
Debt, stated interest rate	4.50%
Debt due date	Jun. 1, 2044
First mortgage bonds	$ 130,000	130,000
Indianapolis Power And Light Company [Member] | First Mortgage Bond 4.70%, Due September 2045 [Member]
Debt Instrument [Line Items]
Debt, stated interest rate	4.70%
Debt due date	Sep. 1, 2045
First mortgage bonds	$ 260,000	260,000
Indianapolis Power And Light Company [Member] | Environmental Facilities Refunding Revenue Notes, Series 2015A [Member]
Debt Instrument [Line Items]
Debt due date	Dec. 22, 2020
Unsecured Debt	$ 30,000	30,000
Indianapolis Power And Light Company [Member] | Environmental Facilities Refunding Revenue Notes, Series 2015B [Member]
Debt Instrument [Line Items]
Debt due date	Dec. 22, 2020
Unsecured Debt	$ 60,000	60,000
Ipalco Enterprises, Inc. [Member]
Debt Instrument [Line Items]
Unamortized discount - net	(360)	(371)
Deferred financing costs	(6,423)	(6,858)
Net Consolidated IPALCO Long-term Debt	$ 798,217	797,771
Ipalco Enterprises, Inc. [Member] | 5.00% Senior Secured Notes [Member]
Debt Instrument [Line Items]
Debt, stated interest rate	5.00%
Debt due date	May 1, 2018
Long-term debt	$ 400,000	400,000
Ipalco Enterprises, Inc. [Member] | 3.45% Senior Secured Notes [Member]
Debt Instrument [Line Items]
Debt, stated interest rate	3.45%
Debt due date	Jul. 1, 2020
Long-term debt	$ 405,000	$ 405,000

Debt (Narrative) (Details)

Debt (Narrative) (Details) - USD ($)	1 Months Ended	3 Months Ended
	May. 31, 2014	Mar. 31, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
Line of credit facility, term	5 years
Maximum borrowing capacity	$ 250,000,000
Line of credit facility, accordion feature	$ 150,000,000
Line of credit, outstanding borrowings		$ 140,000,000	$ 75,000,000
Letter of Credit [Member]
Debt Instrument [Line Items]
Debt instrument, maturity date		Oct. 16, 2020

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Income Tax Disclosure [Abstract]
State and federal income tax rate	32.70%	36.30%

Benefit Plans (Narrative) (Deta

Benefit Plans (Narrative) (Details) - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015
Postretirement Health Care Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Unfunded obligation	$ 4.6	$ 4.5

Benefit Plans (Schedule Of Defi

Benefit Plans (Schedule Of Defined Benefit Plans Disclosures) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Net Unfunded Status of Plans [Roll Forward]
Net funded status before tax adjustments	$ (76,314)
Service cost	(1,754)	$ (2,079)
Interest cost	(6,454)	(7,408)
Expected return on assets	10,873	11,206
Employer contributions	15,900
Net funded status before tax adjustments	(57,749)
Regulatory Assets Related to Pensions [Roll Forward]
Regulatory assets before tax adjustments	456,202
Amortization of prior service cost	(1,296)	(1,216)
Amortization of net actuarial loss	(3,474)	$ (3,475)
Regulatory assets before tax adjustments	470,491
Pension Plan [Member]
Regulatory Assets Related to Pensions [Roll Forward]
Regulatory assets before tax adjustments	235,094
Amortization of prior service cost	(1,296)
Amortization of net actuarial loss	(3,474)
Regulatory assets before tax adjustments	$ 230,324

Benefit Plans (Schedule Of Net

Benefit Plans (Schedule Of Net Periodic Benefit Costs) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Compensation and Retirement Disclosure [Abstract]
Service cost	$ 1,754	$ 2,079
Interest cost	6,454	7,408
Expected return on assets	(10,873)	(11,206)
Amortization of prior service cost	1,296	1,216
Amortization of actuarial loss	3,474	3,475
Net periodic benefit cost	$ 2,105	$ 2,972

Commitments and Contingencies (

Commitments and Contingencies (Details)	1 Months Ended
	Oct. 31, 2009coal_fired_electric_generating_facility
Indianapolis Power And Light Company [Member]
Entity Information [Line Items]
Number of facilities with violations of Federal Clean Air Act	3

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Service Company [Member]
Related Party Transaction [Line Items]
Costs incurred by related party	$ 6.2	$ 6
Prepaid balance to related party	4.8		$ 1.2
Director [Member]
Related Party Transaction [Line Items]
Billings from related vendor	99	37.3
Accounts payable to related vendor	29.6		$ 34
Ipalco Enterprises, Inc. [Member]
Related Party Transaction [Line Items]
Costs incurred by related party	$ 1.9	$ 1.7

Segment Information (Details)

Segment Information (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Debt Instrument [Line Items]
Cash	$ 2,000		$ 1,700
Long-term nonutility investments	$ 5,000		$ 5,200
Nonutility assets representation rate (percentage, less than)	1.00%		1.00%
Net income	$ 27,405	$ 22,209
Utility Segment [Member]
Debt Instrument [Line Items]
Net income	$ 33,600	$ 29,700