Cover
Cover - shares | 9 Months Ended | |
Sep. 30, 2023 | Nov. 02, 2023 | |
Entity Information [Line Items] | ||
Document Fiscal Year Focus | 2023 | |
Entity Central Index Key | 0000728391 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Non-accelerated Filer | |
Entity Incorporation, State or Country Code | IN | |
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Transition Report | false | |
Document Period End Date | Sep. 30, 2023 | |
Amendment Flag | false | |
Document Fiscal Period Focus | Q3 | |
Entity Registrant Name | IPALCO ENTERPRISES, INC. | |
Entity Tax Identification Number | 35-1575582 | |
Entity Address, City or Town | Indianapolis | |
Entity File Number | 1-8644 | |
Entity Address, Address Line One | One Monument Circle | |
Entity Address, Postal Zip Code | 46204 | |
Entity Address, State or Province | IN | |
City Area Code | 317 | |
Local Phone Number | 261-8261 | |
Entity Current Reporting Status | No | |
Entity Interactive Data Current | Yes | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Common Stock, Shares, Outstanding | 108,907,318 | |
AES U.S. Investments [Member] | ||
Entity Information [Line Items] | ||
Common Stock, Shares, Outstanding | 89,685,177 | |
CDPQ [Member] | ||
Entity Information [Line Items] | ||
Common Stock, Shares, Outstanding | 19,222,141 |
Unaudited Condensed Consolidate
Unaudited Condensed Consolidated Statements Of Operations - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Costs and Expenses | $ 331,684 | $ 434,950 | $ 1,122,731 | $ 1,135,472 |
REVENUES | 402,887 | 494,194 | 1,290,580 | 1,307,919 |
Cost of Revenue [Abstract] | ||||
Fuel Costs | 96,698 | 188,437 | 411,864 | 392,497 |
Cost of Goods and Services Sold | 35,748 | 57,386 | 122,410 | 151,891 |
OPERATING EXPENSES: | ||||
Utilities Operating Expense, Maintenance and Operations | 120,858 | 116,969 | 356,386 | 367,525 |
Depreciation and amortization | 72,021 | 66,810 | 212,292 | 199,096 |
Taxes other than income taxes | 6,359 | 5,348 | 19,779 | 27,664 |
Operating Income (Loss) | 71,203 | 59,244 | 167,849 | 172,447 |
Allowance for equity funds used during construction | 3,134 | 1,408 | 7,089 | 4,782 |
Interest Expense | 34,471 | 32,630 | 104,510 | 96,552 |
Other Nonoperating Income (Expense) | (633) | 2,836 | 787 | 8,674 |
Nonoperating Income (Expense) | (31,970) | (28,386) | (96,634) | (83,096) |
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest | 39,233 | 30,858 | 71,215 | 89,351 |
Income Tax Expense (Benefit) | 3,802 | 6,020 | 8,663 | 18,274 |
Net income | 35,431 | 24,838 | 62,552 | 71,077 |
Less: dividends on preferred stock | 0 | 803 | 0 | 2,410 |
Net Income (Loss) Available to Common Stockholders, Basic | 35,431 | 24,035 | 62,552 | 68,667 |
Business Combination, Step Acquisition, Equity Interest in Acquiree, Remeasurement Gain (Loss), Net | 0 | (3,201) | ||
OPERATING INCOME | 71,203 | 59,244 | 167,849 | 172,447 |
OTHER (EXPENSE) / INCOME, NET: | ||||
Allowance for equity funds used during construction | 3,134 | 1,408 | 7,089 | 4,782 |
Interest Expense | (34,471) | (32,630) | (104,510) | (96,552) |
Other Nonoperating Income (Expense) | (633) | 2,836 | 787 | 8,674 |
Total other expense, net | (31,970) | (28,386) | (96,634) | (83,096) |
INCOME BEFORE INCOME TAX | ||||
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest | 39,233 | 30,858 | 71,215 | 89,351 |
Income Tax Expense (Benefit) | 3,802 | 6,020 | 8,663 | 18,274 |
NET INCOME | 35,431 | 24,838 | 62,552 | 71,077 |
Less: dividends on preferred stock | 0 | 803 | 0 | 2,410 |
NET INCOME APPLICABLE TO COMMON STOCK | $ 35,431 | $ 24,035 | $ 62,552 | $ 68,667 |
Unaudited Condensed Consolida_2
Unaudited Condensed Consolidated Statements of Comprehensive Income Statement - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Tax | $ (2,477) | $ (4,349) | $ (2,425) | $ (15,767) |
Net Income (Loss) Available to Common Stockholders, Basic | 35,431 | 24,035 | 62,552 | 68,667 |
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Net of Tax | 7,482 | 13,136 | 7,325 | 47,627 |
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Net of Tax | 8,840 | 14,494 | 11,398 | 51,700 |
Other Comprehensive Income (Loss), Net of Tax | 8,840 | 14,494 | 11,398 | 51,700 |
Less: dividends on preferred stock | 0 | 803 | 0 | 2,410 |
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest | 44,271 | 38,529 | 73,950 | 120,367 |
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, Net of Tax | 1,358 | 1,358 | 4,073 | 4,073 |
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, Tax | $ (449) | $ (449) | $ (1,348) | $ (1,348) |
Unaudited Condensed Consolida_3
Unaudited Condensed Consolidated Balance Sheets - USD ($) $ in Thousands | Sep. 30, 2023 | Dec. 31, 2022 |
CURRENT ASSETS: | ||
Cash and cash equivalents | $ 21,537 | $ 201,548 |
Restricted Cash and Cash Equivalents | 5 | |
Accounts Receivable, after Allowance for Credit Loss, Current | 184,323 | 216,523 |
Accounts Receivable, Allowance for Credit Loss, Current | 1,064 | 1,117 |
Inventory, Net | 146,396 | 123,608 |
Regulatory assets | 70,578 | 119,723 |
Income Taxes Receivable, Current | 42,072 | 18,000 |
Derivative Asset | 24,273 | 7,545 |
Other Assets, Current | 29,610 | 19,882 |
Total current assets | 518,789 | 706,829 |
UTILITY PLANT: | ||
Property, Plant and Equipment, Gross | 6,722,783 | 6,982,314 |
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment | 2,891,090 | 3,243,968 |
Utility plant in service - net | 3,831,693 | 3,738,346 |
Construction in Progress, Gross | 450,059 | 294,985 |
Total net property, plant and equipment | 4,281,752 | 4,033,331 |
Other Assets, Noncurrent [Abstract] | ||
Intangible Assets, Net (Excluding Goodwill) | 220,471 | 138,978 |
Regulatory assets | 567,525 | 593,939 |
Assets for Plan Benefits, Defined Benefit Plan | 32,161 | 33,611 |
Derivative Asset, Noncurrent | 0 | 12,172 |
Other Assets, Miscellaneous, Noncurrent | 112,591 | 70,354 |
Total other non-current assets | 932,748 | 849,054 |
TOTAL ASSETS | 5,733,289 | 5,589,214 |
CURRENT LIABILITIES: | ||
Debt, Current | 479,273 | 0 |
Accounts payable | 206,295 | 189,845 |
Accrued taxes | 26,443 | 22,474 |
Interest Payable, Current | 44,772 | 33,447 |
Customer deposits | 36,732 | 35,097 |
Regulatory Liability, Current | 53,073 | 23,348 |
Accrued Liabilities and Other Liabilities | 19,471 | 19,014 |
Total current liabilities | 866,059 | 323,225 |
Long-term Debt and Lease Obligation | 2,616,217 | 3,016,810 |
Deferred Income Tax Liabilities, Net | 359,588 | 312,641 |
NON-CURRENT LIABILITIES: | ||
Regulatory Liability, Noncurrent | 568,646 | 612,585 |
Accrued other postretirement benefits | 3,027 | 3,085 |
Asset retirement obligations | 216,791 | 218,729 |
Other non-current liabilities | 5,366 | 11,621 |
Total non-current liabilities | 3,769,635 | 4,175,471 |
Liabilities | 4,635,694 | 4,498,696 |
Common shareholders' equity: | ||
Additional Paid in Capital | 1,021,968 | 1,068,357 |
Accumulated Other Comprehensive Income (Loss), Net of Tax | 33,667 | 22,269 |
Accumulated deficit | 41,960 | (108) |
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | 1,097,595 | 1,090,518 |
Total common shareholders' equity | 1,097,595 | 1,090,518 |
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | $ 5,733,289 | $ 5,589,214 |
Unaudited Condensed Consolida_4
Unaudited Condensed Consolidated Statements Of Cash Flows - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2023 | Sep. 30, 2022 | |
CASH FLOWS FROM OPERATIONS: | ||
Net income | $ 62,552 | $ 71,077 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Depreciation and amortization | 212,292 | 199,096 |
Amortization of deferred financing costs and debt discounts | 2,889 | 2,898 |
Deferred income taxes and investment tax credit adjustments - net | 32,735 | (11,137) |
Allowance for equity funds used during construction | (7,089) | (4,782) |
Change in certain assets and liabilities: | ||
Accounts receivable | 32,200 | (27,892) |
Inventories | (30,264) | (35,826) |
Accounts payable | (28,669) | 25,619 |
Accrued and other current liabilities | 2,137 | 4,631 |
Accrued taxes payable/receivable | (20,103) | 1,291 |
Accrued interest | 11,325 | 12,588 |
Pension and other postretirement benefit assets and liabilities | 1,390 | (6,404) |
Current and non-current regulatory assets and liabilities | 100,822 | 8,299 |
Prepayments and other current assets | 9,728 | (2,755) |
Increase (Decrease) in Other Noncurrent Liabilities | (9,226) | (11,934) |
Other - net | (6,176) | (3,743) |
Net cash provided by operating activities | 347,087 | 226,536 |
CASH FLOWS FROM INVESTING ACTIVITIES: | ||
Capital expenditures | (453,671) | (368,636) |
Project development costs | (4,589) | (1,435) |
Cost of removal payments, net of salvage | (36,749) | (23,075) |
Other | 0 | (552) |
Net cash used in investing activities | (534,759) | (393,698) |
CASH FLOWS FROM FINANCING ACTIVITIES: | ||
Borrowings under revolving credit facilities | 75,000 | 300,000 |
Repayments under revolving credit facilities | 0 | (225,000) |
Short-term borrowings | 0 | 200,000 |
Distributions to shareholders | 66,941 | 101,986 |
Preferred dividends of subsidiary | 0 | (2,410) |
Deferred financing costs paid | (85) | (258) |
Other | (313) | (34) |
Net cash provided by financing activities | 7,661 | 170,312 |
Net change in cash, cash equivalents and restricted cash | (180,011) | 3,150 |
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | 21,542 | 10,067 |
Cash paid during the period for: | ||
Interest (net of amount capitalized) | 82,541 | 75,783 |
Income Taxes Paid, Net | 0 | 31,000 |
Non-cash investing activities: | ||
Capital Expenditures Incurred but Not yet Paid | 106,674 | 53,540 |
Right-of-Use Asset Obtained in Exchange for Finance Lease Liability | 983 | (3,402) |
Change in Right-of-Use Asset Lease Liability | (1,408) | (3,402) |
Proceeds from Insurance Settlement, Investing Activities | $ 4,900 | $ 0 |
Unaudited Condensed Consolida_5
Unaudited Condensed Consolidated Statements of Common Stockholders' Equity ( Deficit) Statement - USD ($) $ in Thousands | Total | Additional Paid-in Capital [Member] | AOCI Attributable to Parent [Member] | Retained Earnings [Member] | Cumulative Preferred Stock Of Subsidiary [Member] |
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | $ 794,600 | $ 848,565 | $ (24,558) | $ 59,784 | |
Other Comprehensive Income (Loss), Net of Tax | 16,923 | $ 16,923 | |||
Net Income (Loss) Available to Common Stockholders, Basic | 46,388 | ||||
Dividends, Common Stock | (35,805) | ||||
Stock Issued During Period, Value, Other | 26 | 26 | |||
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest | 46,388 | ||||
Preferred Stock Dividends, Income Statement Impact | 803 | ||||
Payments of Ordinary Dividends, Preferred Stock and Preference Stock | (803) | ||||
Payments of Ordinary Dividends, Common Stock | (35,805) | ||||
Other Comprehensive Income (Loss), Net of Tax | 51,700 | ||||
Net Income (Loss) Available to Common Stockholders, Basic | 68,667 | ||||
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest | 120,367 | ||||
Preferred Stock Dividends, Income Statement Impact | 2,410 | ||||
Payments of Ordinary Dividends, Preferred Stock and Preference Stock | (2,410) | ||||
Return of Capital | (33,300) | ||||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | 822,132 | 848,591 | (12,484) | (13,975) | 59,784 |
Net Income (Loss) Attributable to Nonredeemable Noncontrolling Interest | (1,756) | ||||
Other Comprehensive Income (Loss), Net of Tax | 20,283 | 20,283 | |||
Net Income (Loss) Available to Common Stockholders, Basic | (1,756) | ||||
Dividends, Common Stock | (34,124) | ||||
Stock Issued During Period, Value, Other | 27 | 27 | |||
Preferred Stock Dividends, Income Statement Impact | 804 | ||||
Payments of Ordinary Dividends, Preferred Stock and Preference Stock | (804) | ||||
Return of Capital | 25,297 | ||||
Payments of Ordinary Dividends, Common Stock | (8,827) | ||||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | 806,562 | 823,321 | 7,799 | (24,558) | 59,784 |
Net Income (Loss) Attributable to Nonredeemable Noncontrolling Interest | 24,035 | ||||
Other Comprehensive Income (Loss), Net of Tax | 14,494 | 14,494 | |||
Net Income (Loss) Available to Common Stockholders, Basic | 24,035 | ||||
Dividends, Common Stock | (32,057) | ||||
Stock Issued During Period, Value, Other | 29 | 29 | |||
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest | 38,529 | ||||
Preferred Stock Dividends, Income Statement Impact | 803 | ||||
Payments of Ordinary Dividends, Preferred Stock and Preference Stock | (803) | ||||
Return of Capital | 8,022 | ||||
Payments of Ordinary Dividends, Common Stock | (24,035) | ||||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | 813,063 | 815,328 | 22,293 | (24,558) | 59,784 |
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | 1,090,518 | 1,068,357 | (108) | 0 | |
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | 19,115 | ||||
Other Comprehensive Income (Loss), Net of Tax | (7,174) | (7,174) | |||
Net Income (Loss) Available to Common Stockholders, Basic | 19,115 | ||||
Dividends, Common Stock | (31,395) | ||||
Stock Issued During Period, Value, Other | 31 | 31 | |||
Preferred Stock Dividends, Income Statement Impact | 0 | ||||
Return of Capital | (12,280) | ||||
Payments of Ordinary Dividends, Common Stock | (19,115) | ||||
Other Comprehensive Income (Loss), Net of Tax | 11,398 | ||||
Net Income (Loss) Available to Common Stockholders, Basic | 62,552 | ||||
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest | 73,950 | ||||
Preferred Stock Dividends, Income Statement Impact | 0 | ||||
Payments of Ordinary Dividends, Preferred Stock and Preference Stock | 0 | ||||
Return of Capital | (46,500) | ||||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | 1,071,095 | 1,056,108 | 15,095 | (108) | 0 |
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | 8,006 | ||||
Other Comprehensive Income (Loss), Net of Tax | 9,732 | 9,732 | |||
Net Income (Loss) Available to Common Stockholders, Basic | 8,006 | ||||
Dividends, Common Stock | (35,546) | ||||
Stock Issued During Period, Value, Other | 16 | 16 | |||
Preferred Stock Dividends, Income Statement Impact | 0 | ||||
Payments of Ordinary Dividends, Preferred Stock and Preference Stock | 0 | ||||
Return of Capital | 34,177 | ||||
Payments of Ordinary Dividends, Common Stock | (1,369) | ||||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | 1,053,303 | 1,021,947 | 24,827 | 6,529 | 0 |
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | 35,431 | ||||
Other Comprehensive Income (Loss), Net of Tax | 8,840 | 8,840 | |||
Net Income (Loss) Available to Common Stockholders, Basic | 35,431 | ||||
Stock Issued During Period, Value, Other | 21 | 21 | |||
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest | 44,271 | ||||
Preferred Stock Dividends, Income Statement Impact | 0 | ||||
Payments of Ordinary Dividends, Preferred Stock and Preference Stock | 0 | ||||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | $ 1,097,595 | $ 1,021,968 | $ 33,667 | $ 41,960 | $ 0 |
Overview and Summary Of Signifi
Overview and Summary Of Significant Accounting Policies | 9 Months Ended |
Sep. 30, 2023 | |
Accounting Policies [Abstract] | |
Significant Accounting Policies [Text Block] | 1. OVERVIEW AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES IPALCO is a holding company incorporated under the laws of the state of Indiana. IPALCO 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%). IPALCO owns all of the outstanding common stock of IPL, which does business as AES Indiana. Substantially all of IPALCO’s business consists of generating, transmitting, distributing and selling of electric energy conducted through its principal subsidiary, AES Indiana. AES Indiana was incorporated under the laws of the state of Indiana in 1926. AES Indiana has approximately 521,000 retail customers in the city of Indianapolis and neighboring cities, towns and communities, and adjacent rural areas all within the state of Indiana. AES Indiana has an exclusive right to provide electric service to those customers. AES Indiana owns and operates four generating stations, all within the state of Indiana. AES Indiana’s largest generating station, Petersburg, is coal-fired, and AES Indiana retired 230 MW Petersburg Unit 1 in May 2021 and 415 MW Petersburg Unit 2 in June 2023, which resulted in 630 MW of total retired economic capacity at this station. AES Indiana plans to convert the remaining two coal units at Petersburg to natural gas by the end of 2025 (for further discussion, see Note 2, " Regulatory Matters - IRP Filings and Replacement Generation - 2022 IRP" to IPALCO’s 2022 Form 10-K). The second largest station, Harding Street, uses natural gas and fuel oil to power steam and combustion turbines. In addition, AES Indiana operates a 20 MW battery energy storage unit at this location, which provides frequency response. The third station, Eagle Valley, is a CCGT natural gas plant. The fourth station, Georgetown, is a peaking station that uses natural gas to power combustion turbines. As of September 30, 2023, AES Indiana’s net electric generation capacity for winter is 3,070 MW and net summer capacity is 2,925 MW. On December 17, 2021, AES Indiana, through its wholly-owned subsidiary AES Indiana Devco Holdings 1, LLC, completed the acquisition of Hardy Hills Solar Energy LLC, including the development of a 195 MW solar project (the "Hardy Hills Solar Project"). As amended in December 2022 and approved by the IURC in August 2023, the Hardy Hills Solar Project is now expected to be completed in 2024. On August 31, 2023, AES Indiana, through its wholly-owned subsidiary AES Indiana Devco Holdings 2, LLC, completed the acquisition of Petersburg Energy Center, LLC, including the development of a 250 MW solar and 180 MWh energy storage facility (the "Petersburg Energy Center Project"). As amended in October 2022 and approved by the IURC in May 2023, the Petersburg Energy Center Project is now expected to be completed in 2025. Consolidation The accompanying Financial Statements include the accounts of IPALCO Enterprises, Inc., AES Indiana and Mid-America Capital Resources, Inc., a non-regulated wholly-owned subsidiary of IPALCO. All significant intercompany amounts have been eliminated in consolidation. Interim Financial Presentation The accompanying unaudited condensed consolidated financial statements and footnotes have been prepared in accordance with GAAP, as contained in the FASB ASC, for interim financial information and Article 10 of Regulation S-X issued by the SEC. Accordingly, they do not include all the information and footnotes required by GAAP for annual fiscal reporting periods. In the opinion of management, the interim financial information includes all adjustments of a normal recurring nature necessary for a fair presentation of the results of operations, financial position, comprehensive income, changes in equity, and cash flows. The results of operations for the three and nine months ended September 30, 2023 are not necessarily indicative of expected results for the year ending December 31, 2023. The accompanying condensed consolidated financial statements are unaudited and should be read in conjunction with the 2022 audited consolidated financial statements and notes thereto, which are included in IPALCO's 2022 Form 10-K. 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 management is required to make. Actual results may differ from those estimates. Significant items subject to such estimates and assumptions include: recognition of revenue including unbilled revenues; the carrying value of property, plant and equipment; the valuation of insurance and claims liabilities; the valuation of allowances for credit losses and deferred income taxes; regulatory assets and liabilities; liabilities recorded for income tax exposures; litigation; contingencies; and assets and liabilities related to AROs and employee benefits. Reclassifications Certain immaterial amounts from prior periods have been reclassified to conform to the current year presentation. Cash, Cash Equivalents and Restricted Cash The following table provides a summary of cash, cash equivalents and restricted cash amounts reported on the Condensed Consolidated Balance Sheets that reconcile to the total of such amounts as shown on the Condensed Consolidated Statements of Cash Flows: September 30, December 31, 2023 2022 (In Thousands) Cash, cash equivalents and restricted cash Cash and cash equivalents $ 21,537 $ 201,548 Restricted cash (included in Prepayments and other current assets) 5 5 Total cash, cash equivalents and restricted cash $ 21,542 $ 201,553 Accounts Receivable and Allowance for Credit Losses The following table summarizes our accounts receivable balances at September 30, 2023 and December 31, 2022: September 30, December 31, 2023 2022 (In Thousands) Accounts receivable, net Customer receivables $ 110,746 $ 125,540 Unbilled revenues 54,219 74,488 Amounts due from affiliates 3,742 239 Other 16,680 17,373 Allowance for credit losses (1,064) (1,117) Total accounts receivable, net $ 184,323 $ 216,523 The following table is a rollforward of our allowance for credit losses related to the accounts receivable balances for the nine months ended September 30, 2023 and 2022, respectively: For the Nine Months Ended September 30, $ in Thousands 2023 2022 Allowance for credit losses: Beginning balance $ 1,117 $ 647 Current period provision 5,536 4,046 Write-offs charged against allowances (6,940) (5,049) Recoveries collected 1,351 1,201 Ending Balance $ 1,064 $ 845 The allowance for credit losses primarily relates to utility customer receivables, including unbilled amounts. Expected credit loss estimates are developed by disaggregating customers into those with similar credit risk characteristics and using historical credit loss experience. In addition, we also consider how current and future economic conditions are expected to impact collectability, as applicable, of our receivable balance. Amounts are written off when reasonable collections efforts have been exhausted. Inventories The following table summarizes our inventories balances at September 30, 2023 and December 31, 2022: September 30, December 31, 2023 2022 (In Thousands) Inventories Fuel $ 80,162 $ 60,497 Materials and supplies, net 66,234 63,111 Total inventories $ 146,396 $ 123,608 ARO AES Indiana’s ARO relates primarily to environmental issues involving asbestos-containing materials, ash ponds, landfills and miscellaneous contaminants associated with its generating plants, transmission system and distribution system. The following is a roll forward of the ARO legal liability for the nine months ended September 30, 2023 and 2022, respectively: For the Nine Months Ended September 30, 2023 2022 (In Thousands) Balance as of January 1 $ 218,729 $ 189,509 Liabilities incurred 656 1,362 Liabilities settled (9,946) (20,421) Revisions to cash flow and timing estimates — 23,229 Accretion expense 7,352 6,169 Balance as of September 30 $ 216,791 $ 199,848 AES Indiana recorded adjustments to its ARO liabilities of $0.0 million and $23.2 million for the nine months ended September 30, 2023 and 2022, respectively, primarily to reflect revisions to cash flow and timing estimates due to increases to estimated ash pond closure costs and accelerated landfill closure dates. As of September 30, 2023 and December 31, 2022, AES Indiana did not have any assets that are legally restricted for settling its ARO liability. For further information on AES Indiana’s ARO, see Note 3, " Property, Plant and Equipment - ARO" to IPALCO’s 2022 Form 10-K. AFUDC In accordance with the Uniform System of Accounts prescribed by FERC, AES Indiana capitalizes an allowance for the net cost of funds (interest on borrowed funds and a reasonable rate of return on equity funds) used for construction purposes during the period of construction with a corresponding credit to income. During the three and nine months ended September 30, 2023, AFUDC equity was $3.1 million and $7.1 million, respectively, and AFUDC debt was $3.8 million and $9.5 million, respectively. During the three and nine months ended September 30, 2022, AFUDC equity was $1.4 million and $4.8 million, respectively, and AFUDC debt was $2.5 million and $5.8 million, respectively. Intangible Assets Finite-lived intangible assets include capitalized software and project development intangible assets amortized over their useful lives. Capitalized software of $252.3 million and $205.9 million and its corresponding accumulated amortization of $116.7 million and $107.2 million is recorded as of September 30, 2023 and December 31, 2022, respectively. Amortization expense for capitalized software was $9.7 million and $7.6 million for the nine months ended September 30, 2023 and 2022, respectively. These capitalized software intangible assets have a 7 year-weighted average amortization period, and the estimated amortization expense is approximately $40.7 million over the next 5 years ($8.5 million in 2024, $8.4 million in 2025, $8.4 million in 2026, $7.7 million in 2027 and $7.7 million in 2028). Project development intangible assets were $84.1 million and $39.5 million as of September 30, 2023 and December 31, 2022, respectively. These project development intangible assets have a 28 year-weighted average amortization period, and the estimated amortization expense is approximately $11.6 million over the next 5 years ($1.0 million in 2024, $1.3 million in 2025, $3.1 million in 2026, $3.1 million in 2027 and $3.1 million in 2028). Accumulated Other Comprehensive Income / (Loss) The amounts reclassified out of AOCI / (AOCL) by component during the three and nine months ended September 30, 2023 and 2022 are as follows (in Thousands): Details about AOCI / (AOCL) components Affected line item in the Condensed Consolidated Statements of Operations Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Net losses on cash flow hedges (Note 4): Interest expense $ 1,807 $ 1,807 $ 5,421 $ 5,421 Income tax effect (449) (449) (1,348) (1,348) Total reclassifications for the period, net of income taxes $ 1,358 $ 1,358 $ 4,073 $ 4,073 See Note 4, " Derivative Instruments and Hedging Activities - Cash Flow Hedges " for further information on the changes in the components of AOCI / (AOCL). Operating Expenses – Other, Net Operating expenses – Other, net generally includes gains or losses on asset sales, dispositions or acquisitions, gains or losses on the sale or acquisition of businesses, and other expense or income from miscellaneous operating transactions. For the nine months ended September 30, 2022, the $3.2 million is primarily due to a gain on remeasurement of contingent consideration associated with the Hardy Hills Solar Project acquisition. Related Party Transactions In the second quarter of 2023, AES Indiana engaged a vendor that is a related party through a competitive RFP process as part of its replacement capacity resource construction projects. AES Indiana had payments of $29.8 million to this vendor during the nine months ended September 30, 2023. New Accounting Pronouncements Adopted in 2023 We have assessed and determined that the new accounting pronouncements adopted did not have a material impact on the Company's Financial Statements. |
Regulatory Matters
Regulatory Matters | 9 Months Ended |
Sep. 30, 2023 | |
Regulated Operations [Abstract] | |
Regulatory Matters | 2. REGULATORY MATTERS Regulatory Rate Review AES Indiana filed a petition with the IURC on June 28, 2023, for authority to increase its basic rates and charges to cover the rising operational costs and needs associated with continuing to serve its customers safely and reliably. The factors leading to AES Indiana's first base rate increase request in five years include inflationary impacts on operations and maintenance expenses, investments in the transmission and distribution systems, and modernization of its customer systems. AES Indiana is also seeking recovery of increased costs to support its vegetation management plan, which covers the removal of overhang and tree trimming in its service territory. The Company also seeks to better align depreciation expense with the period in which the generation plants provide service to customers and remove operational costs of the retired Petersburg units from rates. AES Indiana's proposed revenue increase is $134 million annually, or 8.9%. A hearing on this petition is expected to be held in December 2023. We expect to receive an order from the IURC and place new rates into effect by the end of the second quarter of 2024. DSM AES Indiana filed a petition with the IURC on May 26, 2023 asking for approval of a one year DSM interim plan. A hearing was held in September 2023, and we expect the IURC to issue an order on this proceeding during the fourth quarter of 2023. Replacement Generation Hardy Hills Solar Project In December 2021, AES Indiana, through its wholly-owned subsidiary AES Indiana Devco Holdings 1, LLC, closed on an agreement for the acquisition and construction of the 195 MW Hardy Hills Solar Project to be developed in Clinton County, Indiana. In December 2022, the agreement was amended to revise the project schedule, including shifting the completion date to 2024, and adjusting for increased project costs. On January 13, 2023, AES Indiana filed a petition with the IURC for approval of these revisions, which was approved in August 2023. Petersburg Energy Center Project In July 2021, AES Indiana, through its wholly-owned subsidiary AES Indiana Devco Holdings 2, LLC, executed an agreement for the acquisition and construction of a 250 MW solar and 180 MWh energy storage facility to be developed in Pike County, Indiana. In October 2022, the agreement was amended to revise the project schedule, including shifting the completion date to 2025, and adjusting for increased project costs. On December 22, 2022, AES Indiana filed a petition with the IURC for approval of these revisions, which was approved in May 2023. On August 31, 2023, AES Indiana closed on the agreement for the acquisition and construction of the Petersburg Energy Center Project. This transaction was accounted for as an asset acquisition of a variable interest entity that did not meet the definition of a business; therefore, the individual assets were recorded at their fair values. Total net assets of $48.7 million were recorded in the accompanying Consolidated Balance Sheets associated with the transaction, primarily consisting of project development intangible assets (see Note 1, "Overview and Summary of Significant Accounting Policies - Intangible Assets" for further information). Pike County BESS Project In June 2023, AES Indiana, through its wholly-owned subsidiary AES Indiana Devco Holdings 3, LLC, executed an agreement for the construction of the 200 MW Pike County BESS project to be developed at the AES Indiana Petersburg Plant site in Pike County, Indiana. On July 19, 2023, AES Indiana filed a petition and case-in-chief with the IURC seeking approval for a Clean Energy Project and associated timely cost recovery under Indiana Code for this project. A hearing for this case was held in October 2023, and IURC review is expected to be completed during the fourth quarter of 2023. Subject to IURC approval, the Pike County BESS project is expected to be completed in 2024. Hoosier Wind Project On July 5, 2023, AES Indiana filed a Notice of Intent with the IURC to request approval of a Clean Energy Project and for issuance of a CPCN for the Hoosier Wind Project acquisition. The proposed Project is the acquisition of Hoosier Wind Project, which is an existing 106 MW wind facility located in Benton County, Indiana. The Company executed the Purchase Agreement on July 28, 2023. A CPCN for this case was filed in early August 2023, and a hearing was held in October 2023. IURC review is expected to be completed during the fourth quarter of 2023. EV Portfolio Program On January 27, 2023, AES Indiana filed with the IURC a request to approve its EV Portfolio and associated accounting and ratemaking treatment. The EV Portfolio includes two separate parts: (1) a set of EV specific rates, tariffs, and alternative pricing structures, and (2) a set of Public Use EV Pilot Programs. The EV portfolio is designed to produce net benefits for all customers through new retail margins and grid optimization. The projected costs to successfully implement the services proposed in the EV Portfolio are estimated at $16.2 million over the three-year period. AES Indiana requested approval to defer as a regulatory asset and recover in future base rates the cost necessary to implement the EV Portfolio, including carrying charges. A hearing on this request was held in July 2023, and we expect the IURC to issue an order on this request during the fourth quarter of 2023. |
Fair Value
Fair Value | 9 Months Ended |
Sep. 30, 2023 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurements | FAIR VALUE The fair value of current financial assets and liabilities approximate their reported carrying amounts. The estimated fair values of the Company’s assets and liabilities have been determined using available market information. Because these amounts are estimates and based on hypothetical transactions to sell assets or transfer liabilities, the use of different market assumptions and/or estimation methodologies may have a material effect on the estimated fair value amounts. For further information on our valuation techniques and policies, see Note 4, " Fair Value" to IPALCO’s 2022 Form 10-K. Financial Assets and Liabilities VEBA Assets IPALCO has VEBA investments that are to be used to fund certain employee postretirement health care benefit plans. These assets are primarily comprised of open-ended mutual funds, which are valued using the net assets value per unit. These investments are recorded at fair value within " Other non-current assets" on the accompanying Condensed Consolidated Balance Sheets and classified as equity securities. All changes to fair value on the VEBA investments are included in income in the period that the changes occur. These changes to fair value were not material for the periods covered by this report. Any unrealized gains or losses are recorded in " Other (expense) / income, net" on the accompanying Condensed Consolidated Statements of Operations. FTRs In connection with AES Indiana’s participation in MISO, in the second quarter of each year AES Indiana is granted financial instruments that can be converted into cash or FTRs based on AES Indiana’s forecasted peak load for the period. FTRs are used in the MISO market to hedge AES Indiana’s exposure to congestion charges, which result from constraints on the transmission system. AES Indiana’s FTRs are valued at the cleared auction prices for FTRs in MISO’s annual auction. Because of the infrequent nature of this valuation, the fair value assigned to the FTRs is considered a Level 3 input under the fair value hierarchy required by ASC 820. An offsetting regulatory liability has been recorded as these revenues or costs will be flowed through to customers through the FAC. As such, there is no impact on our Condensed Consolidated Statements of Operations. Interest Rate Hedges IPALCO's interest rate hedges have a combined notional amount of $400.0 million. All changes in the market value of the interest rate hedges are recorded in AOCI / (AOCL). See also Note 4, " Derivative Instruments and Hedging Activities - Cash Flow Hedges" for further information. Recurring Fair Value Measurements The fair value of assets and liabilities at September 30, 2023 and December 31, 2022 measured on a recurring basis and the respective category within the fair value hierarchy for IPALCO was determined as follows (In Thousands): Fair Value as of September 30, 2023 Fair Value as of December 31, 2022 Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Financial assets: VEBA investments: Money market funds $ 74 $ — $ — $ 74 $ 5 $ — $ — $ 5 Mutual funds 3,563 — — 3,563 3,223 — — 3,223 Total VEBA investments 3,637 — — 3,637 3,228 — — 3,228 FTRs — — 2,351 2,351 — — 7,545 7,545 Interest rate hedges — 21,922 — 21,922 — 12,172 — 12,172 Total financial assets measured at fair value $ 3,637 $ 21,922 $ 2,351 $ 27,910 $ 3,228 $ 12,172 $ 7,545 $ 22,945 The following table presents a reconciliation of financial instruments, measured at fair value on a recurring basis, classified as Level 3 in the fair value hierarchy for the periods ending (In Thousands): Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Beginning Balance $ 3,294 $ 14,527 $ 7,545 $ 1,235 Issuances — — 3,624 15,338 Settlements (943) (2,792) (8,818) (4,838) Ending Balance $ 2,351 $ 11,735 $ 2,351 $ 11,735 Financial Instruments not Measured at Fair Value in the Condensed 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: September 30, 2023 December 31, 2022 Face Value Fair Value Face Value Fair Value (In Thousands) Fixed-rate $ 3,033,800 $ 2,730,357 $ 3,033,800 $ 2,775,644 Variable-rate 75,000 75,000 — — Total indebtedness $ 3,108,800 $ 2,805,357 $ 3,033,800 $ 2,775,644 The difference between the face value and the carrying value of this indebtedness consists of the following: • unamortized deferred financing costs of $25.2 million and $26.3 million at September 30, 2023 and December 31, 2022, respectively; and • unamortized discounts of $6.8 million and $7.1 million at September 30, 2023 and December 31, 2022, respectively. |
Derivative Instruments and Hedg
Derivative Instruments and Hedging Activities (Notes) | 9 Months Ended |
Sep. 30, 2023 | |
Derivative Instruments and Hedging Activities [Abstract] | |
Derivative Instruments and Hedging Activities Disclosure [Text Block] | DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES For further information on the Company’s derivative and hedge accounting policies, see Note 1, " Overview and Summary of Significant Accounting Policies - Financial Derivatives" and Note 5, " Derivative Instruments and Hedging Activities" to IPALCO’s 2022 Form 10-K. At September 30, 2023 , AES Indiana's outstanding derivative instruments were as follows: Commodity Accounting Treatment (a) Unit Notional Sales Net Notional Interest rate hedges Designated USD $ 400,000 $ — $ 400,000 FTRs Not Designated MWh 6,264 — 6,264 (a) Refers to whether the derivative instruments have been designated as a cash flow hedge. Cash Flow Hedges As part of our risk management processes, we identify the relationships between hedging instruments and hedged items, as well as the risk management objective and strategy for undertaking various hedge transactions. The fair values of cash flow hedges determined by current public market prices will continue to fluctuate with changes in market prices up to contract expiration. The following tables provide information on gains or losses recognized in AOCI / (AOCL) for the cash flow hedges for the periods indicated: Interest Rate Hedges for the Three Months Ended September 30, Interest Rate Hedges for the Nine Months Ended September 30, $ in thousands (net of tax) 2023 2022 2023 2022 Beginning accumulated derivative gain (loss) in AOCI / (AOCL) $ 24,827 $ 7,799 $ 22,269 $ (29,407) Net gains associated with current period hedging transactions 7,482 13,136 7,325 47,627 Net losses reclassified to interest expense, net of tax 1,358 1,358 4,073 4,073 Ending accumulated derivative gain in AOCI $ 33,667 $ 22,293 $ 33,667 $ 22,293 Loss expected to be reclassified to earnings in the next twelve months $ (5,375) Maximum length of time that we are hedging our exposure to variability in future cash flows related to forecasted transactions (in months) 12 Derivatives Not Designated as Hedge AES Indiana's FTRs and forward power contracts do not qualify for hedge accounting or the normal purchases and sales exceptions under ASC 815. Accordingly, FTRs are recorded at fair value using the income approach when acquired and subsequently amortized over the annual period as they are used. The forward power contracts are recorded at fair value using the market approach with changes in the fair value charged or credited to the Condensed Consolidated Statements of Operations in the period in which the change occurred. This is commonly referred to as "MTM accounting". Realized gains and losses on the forward power contracts are included in future FAC filings, therefore any realized and unrealized gains and losses are deferred as regulatory liabilities or regulatory assets. There were net realized losses of $0.0 million and $0.2 million for the three and nine months ended September 30, 2023. There were net realized gains of $0.0 million and $1.3 million related to forward power contracts for the three and nine months ended September 30, 2022. Certain qualifying derivative instruments have been designated as normal purchases or normal sales contracts, as provided under GAAP. Derivative contracts that have been designated as normal purchases or normal sales under GAAP are not subject to hedge or mark to market accounting and are recognized in the Condensed Consolidated Statements of Operations on an accrual basis. When applicable, IPALCO has elected not to offset derivative assets and liabilities and not to offset net derivative positions against the right to reclaim cash collateral pledged (an asset) or the obligation to return cash collateral received (a liability) under derivative agreements. As of September 30, 2023 and December 31, 2022, IPALCO did not have any offsetting positions. The following table summarizes the fair value, balance sheet classification and hedging designation of IPALCO's derivative instruments (in thousands): Commodity Hedging Designation Balance sheet classification September 30, 2023 December 31, 2022 FTRs Not a Cash Flow Hedge Derivative assets, current $ 2,351 $ 7,545 Interest rate hedges Cash Flow Hedge Derivative assets, current $ 21,922 $ — Interest rate hedges Cash Flow Hedge Derivative assets, non-current $ — $ 12,172 |
Debt
Debt | 3 Months Ended |
Mar. 31, 2023 | |
Debt Disclosure [Abstract] | |
Indebtedness | DEBT Long-Term Debt The following table presents our long-term debt: September 30, December 31, Series Due 2023 2022 (In Thousands) AES Indiana first mortgage bonds: 3.125% (1) December 2024 $ 40,000 $ 40,000 0.65% (1) August 2025 40,000 40,000 0.75% (2) April 2026 30,000 30,000 0.95% (2) April 2026 60,000 60,000 1.40% (1) August 2029 55,000 55,000 5.65% December 2032 350,000 350,000 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 4.05% May 2046 350,000 350,000 4.875% November 2048 105,000 105,000 Unamortized discount – net (6,499) (6,651) Deferred financing costs (19,338) (20,362) Total AES Indiana first mortgage bonds 2,127,963 2,126,787 Total Long-term Debt – AES Indiana 2,127,963 2,126,787 Long-term Debt – IPALCO Enterprises, Inc.: 3.70% Senior Secured Notes September 2024 405,000 405,000 4.25% Senior Secured Notes May 2030 475,000 475,000 Unamortized discount – net (346) (425) Deferred financing costs (4,896) (5,912) Total Long-term Debt – IPALCO Enterprises, Inc. 874,758 873,663 Total Consolidated IPALCO Long-term Debt 3,002,721 3,000,450 Less: Current Portion of Long-term Debt 404,273 — Net Consolidated IPALCO Long-term Debt $ 2,598,448 $ 3,000,450 (1) First mortgage bonds issued to the Indiana Finance Authority, to secure the loan of proceeds from tax-exempt bonds issued by the Indiana Finance Authority. (2) First mortgage bonds issued to the Indiana Finance Authority, to secure the loan of proceeds from tax-exempt bonds issued by the Indiana Finance Authority. The notes have a final maturity date of December 31, 2038, but are subject to a mandatory put in April 2026. Line of Credit As of September 30, 2023 and December 31, 2022, AES Indiana had $75.0 million and $0.0 million in outstanding borrowings under the committed Credit Agreement, respectively. IPALCO’s Senior Secured Notes IPALCO has $405 million of 3.70% Senior Secured Notes due September 1, 2024 ("2024 IPALCO Notes"). Although current liquid funds are not sufficient to repay the collective amounts due under the 2024 IPALCO Notes at maturity, the Company believes it will be able to refinance the 2024 IPALCO Notes based on conversations with investment bankers, which currently indicate more than adequate demand for new IPALCO debt at its current credit ratings, and considering the Company's previous successful debt issuances. |
Income Taxes
Income Taxes | 9 Months Ended |
Sep. 30, 2023 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | INCOME TAXES IPALCO's provision for income taxes is based on the estimated annual effective tax rate, plus discrete items. The effective combined state and federal income tax rates were 9.7% and 12.2% for the three and nine months ended September 30, 2023, respectively, as compared to 19.5% and 20.5% for the three and nine months ended September 30, 2022, respectively. The year-to-date rate is different from the combined federal and state statutory rate of 24.9% primarily due to the flowthrough of the net tax benefit related to the reversal of excess deferred taxes of AES Indiana, which was partially offset by the net tax expense related to the amortization of allowance for equity funds used during construction. |
Benefit Plans
Benefit Plans | 9 Months Ended |
Sep. 30, 2023 | |
Retirement Benefits [Abstract] | |
Benefit Plans | BENEFIT PLANS The following table presents the net periodic benefit cost / (credit) of the Pension Plans combined: For the Three Months Ended For the Nine Months Ended September 30, September 30, 2023 2022 2023 2022 (In Thousands) (In Thousands) Components of net periodic benefit cost / (credit): Service cost $ 1,297 $ 2,238 $ 3,892 $ 6,714 Interest cost 7,455 4,530 22,365 13,570 Expected return on plan assets (8,277) (8,914) (24,830) (26,747) Amortization of prior service cost 543 647 1,629 1,942 Amortization of actuarial loss 1,536 603 4,608 1,815 Net periodic benefit cost / (credit) $ 2,554 $ (896) $ 7,664 $ (2,706) The components of net periodic benefit cost / (credit) other than service cost are included in "Other (expense) / income, net" in the Condensed Consolidated Statements of Operations. In addition, AES Indiana 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 of $3.2 million at September 30, 2023 and December 31, 2022, respectively, were not material to the Financial Statements in the periods covered by this report. |
Commitments And Contingencies
Commitments And Contingencies | 9 Months Ended |
Sep. 30, 2023 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments And Contingencies | COMMITMENTS AND CONTINGENCIES Contingencies Legal Matters IPALCO and AES Indiana are involved in litigation arising in the normal course of business. We accrue for litigation and claims when it is probable that a liability has been incurred and the amount of loss can be reasonably estimated. As of September 30, 2023 and December 31, 2022, total legal loss contingencies accrued were $0.2 million and $0.1 million, respectively, which primarily related to personal injury litigation. The legal loss contingencies and settlement related accruals are included in " Accrued and other current liabilities " and " Other Non-Current Liabilities" on the accompanying Condensed Consolidated Balance Sheets. We maintain an amount of insurance protection for such litigation that we believe is adequate. While the ultimate outcome of outstanding litigation cannot be predicted with certainty, management believes that final outcomes will not have a material adverse effect on IPALCO’s results of operations, financial condition and cash flows. Coal Ash Insurance Litigation In August 2021, AES Indiana filed a civil action against various third-party insurance providers. The complaint seeks damages for breach of contract and a declaratory judgment declaring that such insurers must defend and indemnify AES Indiana under liability insurance policies issued between 1950 and the filing of the civil action against certain environmental liabilities arising from CCR at Harding Street, Petersburg and Eagle Valley. At this time, we cannot predict the outcome of this matter. Environmental Matters 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 regulated materials, including CCR; the use and discharge of water used in generation boilers and for cooling purposes; the emission and discharge of hazardous and other materials, including GHGs, into the environment; climate change; 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. |
Business Segment Information (N
Business Segment Information (Notes) | 9 Months Ended |
Sep. 30, 2023 | |
Segment Reporting Information [Line Items] | |
Segment Reporting Disclosure [Text Block] | BUSINESS SEGMENTS IPALCO manages its business through one reportable operating segment, the Utility segment. The primary segment performance measure is income / (loss) before income tax as management has concluded that this measure best reflects the underlying business performance of IPALCO and is the most relevant measure considered in IPALCO's internal evaluation of the financial performance of its segment. The Utility segment is comprised of AES Indiana, a vertically integrated electric utility. with all other nonutility business activities aggregated separately. See Note 1, " Overview and Summary of Significant Accounting Policies" for further information on AES Indiana. The “Other” nonutility category primarily includes the 2024 IPALCO Notes and 2030 IPALCO Notes and related interest expense, balances associated with IPALCO's interest rate hedges, cash and other immaterial balances. The accounting policies of the identified segment are consistent with those policies and procedures described in the summary of significant accounting policies. The following table provides information about IPALCO’s business segments (in thousands): Three Months Ended Three Months Ended September 30, 2023 September 30, 2022 Utility Other Total Utility Other Total Revenues $ 402,887 $ — $ 402,887 $ 494,194 $ — $ 494,194 Depreciation and amortization $ 72,021 $ — $ 72,021 $ 66,810 $ — $ 66,810 Interest expense $ 23,502 $ 10,969 $ 34,471 $ 21,697 $ 10,933 $ 32,630 Income/(loss) before income tax $ 49,887 $ (10,654) $ 39,233 $ 42,032 $ (11,174) $ 30,858 Nine Months Ended Nine Months Ended September 30, 2023 September 30, 2022 Utility Other Total Utility Other Total Revenues $ 1,290,580 $ — $ 1,290,580 $ 1,307,919 $ — $ 1,307,919 Depreciation and amortization $ 212,292 $ — $ 212,292 $ 199,096 $ — $ 199,096 Interest expense $ 71,604 $ 32,906 $ 104,510 $ 63,703 $ 32,849 $ 96,552 Income/(loss) before income tax $ 104,005 $ (32,790) $ 71,215 $ 122,780 $ (33,429) $ 89,351 As of September 30, 2023 As of December 31, 2022 Utility Other Total Utility Other Total Total assets $ 5,684,275 $ 49,014 $ 5,733,289 $ 5,559,977 $ 29,237 $ 5,589,214 |
Revenue (Notes)
Revenue (Notes) | 9 Months Ended |
Sep. 30, 2023 | |
Revenue from External Customer [Line Items] | |
Revenue from Contract with Customer [Text Block] | REVENUES Revenues are primarily earned from retail and wholesale electricity sales and electricity transmission and distribution delivery services. Revenues are recognized upon transfer of control of promised goods or services to customers in an amount that reflects the consideration to which we expect to be entitled in exchange for those goods or services. Revenues are recorded net of any taxes assessed on and collected from customers, which are remitted to the governmental authorities. Please see Note 13, “Revenues” to IPALCO’s 2022 Form 10-K for further discussion of our retail, wholesale and miscellaneous revenues. AES Indiana’s revenues from contracts with customers were $393.9 million and $486.3 million for the three months ended September 30, 2023 and 2022, respectively, and $1,265.0 million and $1,285.5 million for the nine months ended September 30, 2023 and 2022, respectively. The following table presents our revenues from contracts with customers and other revenues (in thousands): For the Three Months Ended September 30, For the Nine Months Ended September 30, 2023 2022 2023 2022 Retail Revenues Retail revenues from contracts with customers: Residential $ 162,531 $ 172,623 $ 515,920 $ 511,515 Small commercial and industrial 58,777 62,764 186,313 183,356 Large commercial and industrial 156,995 169,777 489,190 457,723 Public lighting 2,369 2,478 7,453 7,230 Other (1) 4,253 4,645 13,286 13,430 Total retail revenues from contracts with customers 384,925 412,287 1,212,162 1,173,254 Alternative revenues programs 7,877 7,457 23,153 20,381 Wholesale Revenues Wholesale revenues from contracts with customers: 7,794 67,374 41,489 100,691 Miscellaneous Revenues Capacity revenues — 4,999 8,155 6,752 Transmission and other revenues 1,221 1,610 3,204 4,805 Total miscellaneous revenues from contracts with customers 1,221 6,609 11,359 11,557 Other miscellaneous revenues (2) 1,070 467 2,417 2,036 Total Revenues $ 402,887 $ 494,194 $ 1,290,580 $ 1,307,919 (1) Other retail revenues from contracts with customers includes miscellaneous charges to customers, including reconnection and late fee charges. (2) Other miscellaneous revenues includes lease and other miscellaneous revenues not accounted for under ASC 606. The balances of receivables from contracts with customers were $167.6 million and $198.3 million as of September 30, 2023 and December 31, 2022, respectively. Payment terms for all receivables from contracts with customers typically do not extend beyond 30 days, unless a customer qualifies for payment extension. |
Leases (Notes)
Leases (Notes) | 9 Months Ended |
Sep. 30, 2023 | |
Leases [Abstract] | |
Lessor, Leases [Policy Text Block] | LEASES Lessor The Company is the lessor under operating leases for land, office space and operating equipment. Lease receipts from such contracts are recognized as operating lease revenues on a straight-line basis over the lease term whereas contingent rentals are recognized when earned. The following table presents lease revenues from operating leases in which the Company is the lessor for the periods indicated (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Total lease revenues $ 455 $ 274 $ 1,275 $ 880 The following table presents the underlying gross assets and accumulated depreciation of operating leases included in Property, plant and equipment, net for the periods indicated (in thousands): Property, Plant and Equipment, Net September 30, 2023 December 31, 2022 Gross assets $ 4,341 $ 4,334 Less: Accumulated depreciation (1,181) (1,060) Net assets $ 3,160 $ 3,274 The option to extend or terminate a lease is based on customary early termination provisions in the contract. The Company has not recognized any early terminations as of September 30, 2023 or December 31, 2022, respectively. The following table shows the future lease receipts as of September 30, 2023 for the remainder of 2023 through 2027 and thereafter (in thousands): Operating Leases 2023 $ 136 2024 544 2025 553 2026 554 2027 554 Thereafter 1,245 Total $ 3,586 |
Overview and Summary Of Signi_2
Overview and Summary Of Significant Accounting Policies (Policies) | 9 Months Ended |
Sep. 30, 2023 | |
Accounting Policies [Abstract] | |
Receivable [Policy Text Block] | Accounts Receivable and Allowance for Credit Losses The following table summarizes our accounts receivable balances at September 30, 2023 and December 31, 2022: September 30, December 31, 2023 2022 (In Thousands) Accounts receivable, net Customer receivables $ 110,746 $ 125,540 Unbilled revenues 54,219 74,488 Amounts due from affiliates 3,742 239 Other 16,680 17,373 Allowance for credit losses (1,064) (1,117) Total accounts receivable, net $ 184,323 $ 216,523 |
Inventory, Policy [Policy Text Block] | The following table is a rollforward of our allowance for credit losses related to the accounts receivable balances for the nine months ended September 30, 2023 and 2022, respectively: For the Nine Months Ended September 30, $ in Thousands 2023 2022 Allowance for credit losses: Beginning balance $ 1,117 $ 647 Current period provision 5,536 4,046 Write-offs charged against allowances (6,940) (5,049) Recoveries collected 1,351 1,201 Ending Balance $ 1,064 $ 845 The allowance for credit losses primarily relates to utility customer receivables, including unbilled amounts. Expected credit loss estimates are developed by disaggregating customers into those with similar credit risk characteristics and using historical credit loss experience. In addition, we also consider how current and future economic conditions are expected to impact collectability, as applicable, of our receivable balance. Amounts are written off when reasonable collections efforts have been exhausted. Inventories The following table summarizes our inventories balances at September 30, 2023 and December 31, 2022: September 30, December 31, 2023 2022 (In Thousands) Inventories Fuel $ 80,162 $ 60,497 Materials and supplies, net 66,234 63,111 Total inventories $ 146,396 $ 123,608 |
Schedule of Asset Retirement Obligations [Table Text Block] | For the Nine Months Ended September 30, 2023 2022 (In Thousands) Balance as of January 1 $ 218,729 $ 189,509 Liabilities incurred 656 1,362 Liabilities settled (9,946) (20,421) Revisions to cash flow and timing estimates — 23,229 Accretion expense 7,352 6,169 Balance as of September 30 $ 216,791 $ 199,848 |
Consolidation, Policy [Policy Text Block] | Consolidation The accompanying Financial Statements include the accounts of IPALCO Enterprises, Inc., AES Indiana and Mid-America Capital Resources, Inc., a non-regulated wholly-owned subsidiary of IPALCO. All significant intercompany amounts have been eliminated in consolidation. |
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 management is required to make. Actual results may differ from those estimates. Significant items subject to such estimates and assumptions include: recognition of revenue including unbilled revenues; the carrying value of property, plant and equipment; the valuation of insurance and claims liabilities; the valuation of allowances for credit losses and deferred income taxes; regulatory assets and liabilities; liabilities recorded for income tax exposures; litigation; contingencies; and assets and liabilities related to AROs and employee benefits. Reclassifications Certain immaterial amounts from prior periods have been reclassified to conform to the current year presentation. |
Reclassifications | . |
Cash and Cash Equivalents, Restricted Cash and Cash Equivalents, Policy [Policy Text Block] | Cash, Cash Equivalents and Restricted Cash The following table provides a summary of cash, cash equivalents and restricted cash amounts reported on the Condensed Consolidated Balance Sheets that reconcile to the total of such amounts as shown on the Condensed Consolidated Statements of Cash Flows: September 30, December 31, 2023 2022 (In Thousands) Cash, cash equivalents and restricted cash Cash and cash equivalents $ 21,537 $ 201,548 Restricted cash (included in Prepayments and other current assets) 5 5 Total cash, cash equivalents and restricted cash $ 21,542 $ 201,553 |
Financing Receivable, Allowance for Credit Losses, Policy for Uncollectible Amounts [Policy Text Block] | The following table is a rollforward of our allowance for credit losses related to the accounts receivable balances for the nine months ended September 30, 2023 and 2022, respectively: For the Nine Months Ended September 30, $ in Thousands 2023 2022 Allowance for credit losses: Beginning balance $ 1,117 $ 647 Current period provision 5,536 4,046 Write-offs charged against allowances (6,940) (5,049) Recoveries collected 1,351 1,201 Ending Balance $ 1,064 $ 845 The allowance for credit losses primarily relates to utility customer receivables, including unbilled amounts. Expected credit loss estimates are developed by disaggregating customers into those with similar credit risk characteristics and using historical credit loss experience. In addition, we also consider how current and future |
Leases, Codification Topic 842
Leases, Codification Topic 842 (Policies) | 9 Months Ended |
Sep. 30, 2023 | |
Leases [Abstract] | |
Lessor, Leases [Policy Text Block] | LEASES Lessor The Company is the lessor under operating leases for land, office space and operating equipment. Lease receipts from such contracts are recognized as operating lease revenues on a straight-line basis over the lease term whereas contingent rentals are recognized when earned. The following table presents lease revenues from operating leases in which the Company is the lessor for the periods indicated (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Total lease revenues $ 455 $ 274 $ 1,275 $ 880 The following table presents the underlying gross assets and accumulated depreciation of operating leases included in Property, plant and equipment, net for the periods indicated (in thousands): Property, Plant and Equipment, Net September 30, 2023 December 31, 2022 Gross assets $ 4,341 $ 4,334 Less: Accumulated depreciation (1,181) (1,060) Net assets $ 3,160 $ 3,274 The option to extend or terminate a lease is based on customary early termination provisions in the contract. The Company has not recognized any early terminations as of September 30, 2023 or December 31, 2022, respectively. The following table shows the future lease receipts as of September 30, 2023 for the remainder of 2023 through 2027 and thereafter (in thousands): Operating Leases 2023 $ 136 2024 544 2025 553 2026 554 2027 554 Thereafter 1,245 Total $ 3,586 |
Overview and Summary Of Signi_3
Overview and Summary Of Significant Accounting Policies (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Accounting Policies [Abstract] | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | The following table summarizes our accounts receivable balances at September 30, 2023 and December 31, 2022: September 30, December 31, 2023 2022 (In Thousands) Accounts receivable, net Customer receivables $ 110,746 $ 125,540 Unbilled revenues 54,219 74,488 Amounts due from affiliates 3,742 239 Other 16,680 17,373 Allowance for credit losses (1,064) (1,117) Total accounts receivable, net $ 184,323 $ 216,523 |
Allowance for Credit Losses [Table Text Block] | The following table is a rollforward of our allowance for credit losses related to the accounts receivable balances for the nine months ended September 30, 2023 and 2022, respectively: For the Nine Months Ended September 30, $ in Thousands 2023 2022 Allowance for credit losses: Beginning balance $ 1,117 $ 647 Current period provision 5,536 4,046 Write-offs charged against allowances (6,940) (5,049) Recoveries collected 1,351 1,201 Ending Balance $ 1,064 $ 845 |
Schedule of Inventory, Current [Table Text Block] | The following table summarizes our inventories balances at September 30, 2023 and December 31, 2022: September 30, December 31, 2023 2022 (In Thousands) Inventories Fuel $ 80,162 $ 60,497 Materials and supplies, net 66,234 63,111 Total inventories $ 146,396 $ 123,608 |
Schedule of Cash and Cash Equivalents [Table Text Block] | The following table provides a summary of cash, cash equivalents and restricted cash amounts reported on the Condensed Consolidated Balance Sheets that reconcile to the total of such amounts as shown on the Condensed Consolidated Statements of Cash Flows: September 30, December 31, 2023 2022 (In Thousands) Cash, cash equivalents and restricted cash Cash and cash equivalents $ 21,537 $ 201,548 Restricted cash (included in Prepayments and other current assets) 5 5 Total cash, cash equivalents and restricted cash $ 21,542 $ 201,553 |
Reclassification out of Accumulated Other Comprehensive Income | The amounts reclassified out of AOCI / (AOCL) by component during the three and nine months ended September 30, 2023 and 2022 are as follows (in Thousands): Details about AOCI / (AOCL) components Affected line item in the Condensed Consolidated Statements of Operations Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Net losses on cash flow hedges (Note 4): Interest expense $ 1,807 $ 1,807 $ 5,421 $ 5,421 Income tax effect (449) (449) (1,348) (1,348) Total reclassifications for the period, net of income taxes $ 1,358 $ 1,358 $ 4,073 $ 4,073 |
Schedule of Asset Retirement Obligations [Table Text Block] | For the Nine Months Ended September 30, 2023 2022 (In Thousands) Balance as of January 1 $ 218,729 $ 189,509 Liabilities incurred 656 1,362 Liabilities settled (9,946) (20,421) Revisions to cash flow and timing estimates — 23,229 Accretion expense 7,352 6,169 Balance as of September 30 $ 216,791 $ 199,848 |
Fair Value (Tables)
Fair Value (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Fair Value Disclosures [Abstract] | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | The fair value of assets and liabilities at September 30, 2023 and December 31, 2022 measured on a recurring basis and the respective category within the fair value hierarchy for IPALCO was determined as follows (In Thousands): Fair Value as of September 30, 2023 Fair Value as of December 31, 2022 Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Financial assets: VEBA investments: Money market funds $ 74 $ — $ — $ 74 $ 5 $ — $ — $ 5 Mutual funds 3,563 — — 3,563 3,223 — — 3,223 Total VEBA investments 3,637 — — 3,637 3,228 — — 3,228 FTRs — — 2,351 2,351 — — 7,545 7,545 Interest rate hedges — 21,922 — 21,922 — 12,172 — 12,172 Total financial assets measured at fair value $ 3,637 $ 21,922 $ 2,351 $ 27,910 $ 3,228 $ 12,172 $ 7,545 $ 22,945 |
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: September 30, 2023 December 31, 2022 Face Value Fair Value Face Value Fair Value (In Thousands) Fixed-rate $ 3,033,800 $ 2,730,357 $ 3,033,800 $ 2,775,644 Variable-rate 75,000 75,000 — — Total indebtedness $ 3,108,800 $ 2,805,357 $ 3,033,800 $ 2,775,644 |
Derivative Instruments and He_2
Derivative Instruments and Hedging Activities (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Derivative Instruments and Hedging Activities [Abstract] | |
Schedule of Derivative Instruments, Effect on Other Comprehensive Income (Loss) [Table Text Block] | The following tables provide information on gains or losses recognized in AOCI / (AOCL) for the cash flow hedges for the periods indicated: |
Schedule of Derivative Instruments [Table Text Block] | At September 30, 2023 , AES Indiana's outstanding derivative instruments were as follows: Commodity Accounting Treatment (a) Unit Notional Sales Net Notional Interest rate hedges Designated USD $ 400,000 $ — $ 400,000 FTRs Not Designated MWh 6,264 — 6,264 (a) Refers to whether the derivative instruments have been designated as a cash flow hedge. |
Debt (Tables)
Debt (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Debt Disclosure [Abstract] | |
Schedule Long-Term Indebtedness | The following table presents our long-term debt: September 30, December 31, Series Due 2023 2022 (In Thousands) AES Indiana first mortgage bonds: 3.125% (1) December 2024 $ 40,000 $ 40,000 0.65% (1) August 2025 40,000 40,000 0.75% (2) April 2026 30,000 30,000 0.95% (2) April 2026 60,000 60,000 1.40% (1) August 2029 55,000 55,000 5.65% December 2032 350,000 350,000 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 4.05% May 2046 350,000 350,000 4.875% November 2048 105,000 105,000 Unamortized discount – net (6,499) (6,651) Deferred financing costs (19,338) (20,362) Total AES Indiana first mortgage bonds 2,127,963 2,126,787 Total Long-term Debt – AES Indiana 2,127,963 2,126,787 Long-term Debt – IPALCO Enterprises, Inc.: 3.70% Senior Secured Notes September 2024 405,000 405,000 4.25% Senior Secured Notes May 2030 475,000 475,000 Unamortized discount – net (346) (425) Deferred financing costs (4,896) (5,912) Total Long-term Debt – IPALCO Enterprises, Inc. 874,758 873,663 Total Consolidated IPALCO Long-term Debt 3,002,721 3,000,450 Less: Current Portion of Long-term Debt 404,273 — Net Consolidated IPALCO Long-term Debt $ 2,598,448 $ 3,000,450 (1) First mortgage bonds issued to the Indiana Finance Authority, to secure the loan of proceeds from tax-exempt bonds issued by the Indiana Finance Authority. (2) First mortgage bonds issued to the Indiana Finance Authority, to secure the loan of proceeds from tax-exempt bonds issued by the Indiana Finance Authority. The notes have a final maturity date of December 31, 2038, but are subject to a mandatory put in April 2026. |
Benefit Plans (Tables)
Benefit Plans (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Retirement Benefits [Abstract] | |
Schedule Of Net Periodic Benefit Costs | The following table presents the net periodic benefit cost / (credit) of the Pension Plans combined: For the Three Months Ended For the Nine Months Ended September 30, September 30, 2023 2022 2023 2022 (In Thousands) (In Thousands) Components of net periodic benefit cost / (credit): Service cost $ 1,297 $ 2,238 $ 3,892 $ 6,714 Interest cost 7,455 4,530 22,365 13,570 Expected return on plan assets (8,277) (8,914) (24,830) (26,747) Amortization of prior service cost 543 647 1,629 1,942 Amortization of actuarial loss 1,536 603 4,608 1,815 Net periodic benefit cost / (credit) $ 2,554 $ (896) $ 7,664 $ (2,706) |
Business Segment Information (T
Business Segment Information (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Segment Reporting Information [Line Items] | |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | The following table provides information about IPALCO’s business segments (in thousands): Three Months Ended Three Months Ended September 30, 2023 September 30, 2022 Utility Other Total Utility Other Total Revenues $ 402,887 $ — $ 402,887 $ 494,194 $ — $ 494,194 Depreciation and amortization $ 72,021 $ — $ 72,021 $ 66,810 $ — $ 66,810 Interest expense $ 23,502 $ 10,969 $ 34,471 $ 21,697 $ 10,933 $ 32,630 Income/(loss) before income tax $ 49,887 $ (10,654) $ 39,233 $ 42,032 $ (11,174) $ 30,858 Nine Months Ended Nine Months Ended September 30, 2023 September 30, 2022 Utility Other Total Utility Other Total Revenues $ 1,290,580 $ — $ 1,290,580 $ 1,307,919 $ — $ 1,307,919 Depreciation and amortization $ 212,292 $ — $ 212,292 $ 199,096 $ — $ 199,096 Interest expense $ 71,604 $ 32,906 $ 104,510 $ 63,703 $ 32,849 $ 96,552 Income/(loss) before income tax $ 104,005 $ (32,790) $ 71,215 $ 122,780 $ (33,429) $ 89,351 As of September 30, 2023 As of December 31, 2022 Utility Other Total Utility Other Total Total assets $ 5,684,275 $ 49,014 $ 5,733,289 $ 5,559,977 $ 29,237 $ 5,589,214 |
Revenue (Tables)
Revenue (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Disaggregation of Revenue [Line Items] | |
Disaggregation of Revenue [Table Text Block] |
Leases (Tables)
Leases (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Leases [Abstract] | |
Operating Lease, Lease Income [Table Text Block] | The following table shows the future lease receipts as of September 30, 2023 for the remainder of 2023 through 2027 and thereafter (in thousands): Operating Leases 2023 $ 136 2024 544 2025 553 2026 554 2027 554 Thereafter 1,245 Total $ 3,586 |
Overview and Summary of Signi_4
Overview and Summary of Significant Accounting Policies (Details) | 3 Months Ended | 9 Months Ended | |||||||||
Sep. 30, 2023 USD ($) generating_station MW | Jun. 30, 2023 USD ($) | Mar. 31, 2023 USD ($) | Sep. 30, 2022 USD ($) | Jun. 30, 2022 USD ($) | Mar. 31, 2022 USD ($) | Sep. 30, 2023 USD ($) generating_station MW | Sep. 30, 2022 USD ($) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 USD ($) | May 31, 2021 | |
Debt Instrument [Line Items] | |||||||||||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | $ 1,097,595,000 | $ 1,053,303,000 | $ 1,071,095,000 | $ 813,063,000 | $ 806,562,000 | $ 822,132,000 | $ 1,097,595,000 | $ 813,063,000 | $ 1,090,518,000 | $ 794,600,000 | |
Asset Retirement Obligation, Revision of Estimate | 0 | 23,229,000 | |||||||||
Asset Retirement Obligation, Accretion Expense | 7,352,000 | 6,169,000 | |||||||||
Accumulated Other Comprehensive Income (Loss), Net of Tax | 33,667,000 | 24,827,000 | 7,799,000 | 33,667,000 | 22,269,000 | (29,407,000) | |||||
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Net of Tax | 7,482,000 | 13,136,000 | 7,325,000 | 47,627,000 | |||||||
Inventories | 80,162,000 | 80,162,000 | 60,497,000 | ||||||||
Cash and cash equivalents | $ 21,537,000 | 201,548,000 | $ 21,537,000 | 201,548,000 | 201,548,000 | ||||||
Number of customers | 521,000 | 521,000 | |||||||||
Number of generating stations | generating_station | 4 | 4 | |||||||||
Restricted Cash and Cash Equivalents | $ 5,000 | 5,000 | $ 5,000 | 5,000 | |||||||
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | 21,542,000 | 10,067,000 | 21,542,000 | 10,067,000 | 201,553,000 | 6,917,000 | |||||
Regulatory assets, current | 66,234,000 | 66,234,000 | 63,111,000 | ||||||||
Inventory, Net | 146,396,000 | 146,396,000 | 123,608,000 | ||||||||
Other Comprehensive Income (Loss), Net of Tax | 8,840,000 | 9,732,000 | (7,174,000) | 14,494,000 | 20,283,000 | $ 16,923,000 | 11,398,000 | 51,700,000 | |||
Accounts Receivable, Allowance for Credit Loss, Current | 1,064,000 | 845,000 | 1,064,000 | 845,000 | 1,117,000 | 647,000 | |||||
Accounts Receivable, Credit Loss Expense (Reversal) | 5,536,000 | 4,046,000 | |||||||||
Accounts Receivable, Allowance for Credit Loss, Writeoff | (6,940,000) | (5,049,000) | |||||||||
Accounts Receivable, Allowance for Credit Loss, Recovery | 1,351,000 | 1,201,000 | |||||||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||||
Accumulated Other Comprehensive Income (Loss), Net of Tax | 33,667,000 | 24,827,000 | $ 7,799,000 | 33,667,000 | 22,269,000 | (29,407,000) | |||||
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax | 13,136,000 | 47,627,000 | |||||||||
Income Tax Expense (Benefit) | 3,802,000 | 6,020,000 | 8,663,000 | 18,274,000 | |||||||
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | 35,431,000 | 8,006,000 | 19,115,000 | ||||||||
Income Tax Expense (Benefit) | 3,802,000 | 6,020,000 | 8,663,000 | 18,274,000 | |||||||
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | 35,431,000 | $ 8,006,000 | $ 19,115,000 | ||||||||
Reclassification from AOCI, Current Period, Net of Tax, Attributable to Parent | $ 1,358,000 | 1,358,000 | $ 4,073,000 | 4,073,000 | |||||||
Petersburg Unit 1 retired MW | 230 | ||||||||||
Petersburg Unit 2 Planned Retirement MW in 2023 | 415 | ||||||||||
Preferred Resource Portfolio Coal-Fired Generation Retirement MW by 2023 | 630 | 630 | |||||||||
Asset Retirement Obligation | $ 216,791,000 | 199,848,000 | $ 216,791,000 | 199,848,000 | 218,729,000 | $ 189,509,000 | |||||
Asset Retirement Obligation, Liabilities Incurred | 656,000 | 1,362,000 | |||||||||
Asset Retirement Obligation, Liabilities Settled | (9,946,000) | (20,421,000) | |||||||||
Business Combination, Step Acquisition, Equity Interest in Acquiree, Remeasurement Gain (Loss), Net | 0 | 3,201,000 | |||||||||
Allowance for Funds Used During Construction, Capitalized Interest | 3,800,000 | 2,500,000 | 9,500,000 | 5,800,000 | |||||||
Allowance for Funds Used During Construction, Equity Portion | 3,100,000 | 1,400,000 | 7,100,000 | 4,800,000 | |||||||
Related Party Transaction, Purchases from Related Party | 29,800,000 | ||||||||||
Capitalized Computer Software, Additions | 9,700,000 | 7,600,000 | |||||||||
Capitalized Computer Software, Gross | 252,300,000 | 252,300,000 | 205,900,000 | ||||||||
Development Costs, Cumulative | 84,100,000 | 39,500,000 | 84,100,000 | 39,500,000 | |||||||
Capitalized Computer Software, Accumulated Amortization | $ (116,700,000) | $ (116,700,000) | $ (107,200,000) | ||||||||
Indianapolis Power And Light Company [Member] | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Electric generation capability for winter, megawatts | MW | 3,070 | 3,070 | |||||||||
Electric generation capability for summer, megawatts | MW | 2,925 | 2,925 | |||||||||
Aes U.S. Investments [Member] | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Ownership percentage by parent (percent) | 82.35% | 82.35% | |||||||||
CDPQ [Member] | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Ownership percentage by parent (percent) | 17.65% | 17.65% | |||||||||
Ownership interest in parent company (percent) | 15% | 15% | |||||||||
AES U.S. Holdings, LLC [Member] | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Ownership interest in parent company (percent) | 85% | 85% | |||||||||
Harding Street [Member] | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Amount of New Operation for Battery Storage Unit, megawatts | MW | 20 | 20 | |||||||||
Estimated Future Amortization 2024 | |||||||||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||||
Capitalized Computer Software, Amortization | $ 8,500,000 | ||||||||||
Capitalized Computer Software, Amortization | 8,500,000 | ||||||||||
Estimated Future Amortization 2025 | |||||||||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||||
Capitalized Computer Software, Amortization | 8,400,000 | ||||||||||
Capitalized Computer Software, Amortization | 8,400,000 | ||||||||||
Estimated Future Amortization 2027 | |||||||||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||||
Capitalized Computer Software, Amortization | 7,700,000 | ||||||||||
Capitalized Computer Software, Amortization | 7,700,000 | ||||||||||
Estimated Future Amortization 2028 | |||||||||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||||
Capitalized Computer Software, Amortization | 7,700,000 | ||||||||||
Capitalized Computer Software, Amortization | 7,700,000 | ||||||||||
5 Year Estimated Future Amortization | |||||||||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||||
Amortization of Intangible Assets | 40,700,000 | ||||||||||
28 Year Weighted Average Amortization Period | |||||||||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||||
Finite-Lived Intangible Assets, Amortization Expense, Rolling Year Five | $ 11,600,000 | 11,600,000 | |||||||||
Finite-Lived Intangible Assets, Amortization Expense, Rolling Year Five | 11,600,000 | 11,600,000 | |||||||||
Development Costs Estimated Future Amortization 2024 | |||||||||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||||
Finite-Lived Intangible Assets, Amortization Expense, Rolling Year Five | 1,000,000 | 1,000,000 | |||||||||
Finite-Lived Intangible Assets, Amortization Expense, Rolling Year Five | 1,000,000 | 1,000,000 | |||||||||
Development Costs Estimated Future Amortization 2025 | |||||||||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||||
Finite-Lived Intangible Assets, Amortization Expense, Rolling Year Five | 1,300,000 | 1,300,000 | |||||||||
Finite-Lived Intangible Assets, Amortization Expense, Rolling Year Five | 1,300,000 | 1,300,000 | |||||||||
Development Costs Estimated Future Amortization 2026 | |||||||||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||||
Finite-Lived Intangible Assets, Amortization Expense, Rolling Year Five | 3,100,000 | 3,100,000 | |||||||||
Finite-Lived Intangible Assets, Amortization Expense, Rolling Year Five | 3,100,000 | 3,100,000 | |||||||||
Development Costs Estimated Future Amortization 2027 | |||||||||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||||
Finite-Lived Intangible Assets, Amortization Expense, Rolling Year Five | 3,100,000 | 3,100,000 | |||||||||
Finite-Lived Intangible Assets, Amortization Expense, Rolling Year Five | 3,100,000 | 3,100,000 | |||||||||
Development Costs Estimated Future Amortization 2028 | |||||||||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||||
Finite-Lived Intangible Assets, Amortization Expense, Rolling Year Five | 3,100,000 | 3,100,000 | |||||||||
Finite-Lived Intangible Assets, Amortization Expense, Rolling Year Five | 3,100,000 | 3,100,000 | |||||||||
Estimated Future Amortization 2026 | |||||||||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||||
Capitalized Computer Software, Amortization | 8,400,000 | ||||||||||
Capitalized Computer Software, Amortization | 8,400,000 | ||||||||||
Interest Rate Contract [Member] | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Accumulated Other Comprehensive Income (Loss), Cumulative Changes in Net Gain (Loss) from Cash Flow Hedges, Effect Net of Tax | 33,667,000 | 22,293,000 | 33,667,000 | 22,293,000 | |||||||
Accumulated Net Gain (Loss) from Cash Flow Hedges Attributable to Parent [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | |||||||||||
Debt Instrument [Line Items] | |||||||||||
Interest and Debt Expense | (1,807,000) | (1,807,000) | (5,421,000) | (5,421,000) | |||||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||||
Interest and Debt Expense | (1,807,000) | (1,807,000) | (5,421,000) | (5,421,000) | |||||||
Income Tax Expense (Benefit) | 449,000 | 449,000 | 1,348,000 | 1,348,000 | |||||||
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | 1,358,000 | 1,358,000 | 4,073,000 | 4,073,000 | |||||||
Income Tax Expense (Benefit) | 449,000 | 449,000 | 1,348,000 | 1,348,000 | |||||||
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | $ 1,358,000 | $ 1,358,000 | $ 4,073,000 | $ 4,073,000 |
Overview and Summary Of Signi_5
Overview and Summary Of Significant Accounting Policies Schedule of Changes in Asset Retirement Obligation (Details) - USD ($) $ in Thousands | 9 Months Ended | |||
Sep. 30, 2023 | Sep. 30, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | |
Asset Retirement Obligation Disclosure [Abstract] | ||||
Asset Retirement Obligation | $ 216,791 | $ 199,848 | $ 218,729 | $ 189,509 |
Asset Retirement Obligation, Revision of Estimate | 0 | 23,229 | ||
Asset Retirement Obligation, Liabilities Settled | 9,946 | 20,421 | ||
Asset Retirement Obligation, Accretion Expense | $ 7,352 | $ 6,169 |
Overview and Summary Of Signi_6
Overview and Summary Of Significant Accounting Policies Schedule of cash, restricted cash and cash equivalents (Details) - USD ($) $ in Thousands | Sep. 30, 2023 | Dec. 31, 2022 | Sep. 30, 2022 | Dec. 31, 2021 |
Cash and Cash Equivalents [Line Items] | ||||
Cash and cash equivalents | $ 21,537 | $ 201,548 | $ 201,548 | |
Restricted Cash and Cash Equivalents | 5 | 5 | ||
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | $ 21,542 | $ 201,553 | $ 10,067 | $ 6,917 |
Overview and Summary Of Signi_7
Overview and Summary Of Significant Accounting Policies Schedule of Accounts and notes receivable (Details) - USD ($) $ in Thousands | 9 Months Ended | |||
Sep. 30, 2023 | Sep. 30, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Receivables from Customers | $ 110,746 | $ 125,540 | ||
Unbilled Receivables, Current | 54,219 | 74,488 | ||
Receivables from Stockholder | 3,742 | 239 | ||
Other Receivables | 16,680 | 17,373 | ||
Accounts Receivable, Allowance for Credit Loss | (1,064) | (1,117) | ||
Accounts Receivable, after Allowance for Credit Loss, Current | 184,323 | 216,523 | ||
Accounts Receivable, Allowance for Credit Loss, Current | 1,064 | $ 845 | $ 1,117 | $ 647 |
Accounts Receivable, Credit Loss Expense (Reversal) | 5,536 | 4,046 | ||
Accounts Receivable, Allowance for Credit Loss, Writeoff | (6,940) | (5,049) | ||
Accounts Receivable, Allowance for Credit Loss, Recovery | $ 1,351 | $ 1,201 |
Regulatory Matters (Details)
Regulatory Matters (Details) $ in Thousands | 9 Months Ended | ||
Sep. 30, 2023 USD ($) | Dec. 31, 2022 USD ($) | May 31, 2021 | |
Regulatory Matters [Line Items] | |||
Total current regulatory assets | $ 70,578 | $ 119,723 | |
Total long-term regulatory assets | 567,525 | 593,939 | |
Total current regulatory liabilities | 53,073 | 23,348 | |
Total long-term regulatory liabilities | $ 568,646 | $ 612,585 | |
Preferred Resource Portfolio Coal-Fired Generation Retirement MW by 2023 | 630 | ||
Petersburg Unit 1 retired MW | 230 | ||
Renewable Energy Program | |||
Regulatory Matters [Line Items] | |||
Production Costs, Period Cost | $ 16,200 | ||
Petersburg Energy Center | |||
Regulatory Matters [Line Items] | |||
Finite-Lived Intangible Assets, Net | $ 48,700 |
Fair Value (Narrative) (Details
Fair Value (Narrative) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||||||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | Jun. 30, 2023 | Dec. 31, 2022 | Jun. 30, 2022 | Dec. 31, 2021 | |
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||||||
Financial Transmission Rights Fair Value Disclosure | $ 2,351 | $ 7,545 | $ 2,351 | $ 7,545 | ||||
Forward Power Contracts Fair Value Disclosure | 21,922 | 12,172 | 21,922 | 12,172 | ||||
Investments, Fair Value Disclosure | 3,637 | 3,228 | 3,637 | 3,228 | ||||
Assets, Fair Value Disclosure | 27,910 | 22,945 | 27,910 | 22,945 | ||||
Derivative Instruments Not Designated as Hedging Instruments, Gain | 0 | 1,300 | ||||||
Investments, Fair Value Disclosure | 3,637 | 3,228 | 3,637 | 3,228 | ||||
Asset Retirement Obligation, Revision of Estimate | 0 | 23,229 | ||||||
Asset retirement obligations | 216,791 | 216,791 | $ 218,729 | |||||
Unamortized deferred financing costs | 25,200 | 25,200 | 26,300 | |||||
Unamortized debt discount | 6,800 | 6,800 | 7,100 | |||||
Financial Transmission Rights Fair Value Disclosure | 2,351 | 7,545 | 2,351 | 7,545 | ||||
Assets, Fair Value Disclosure | 27,910 | 22,945 | 27,910 | 22,945 | ||||
Derivative Financial Instruments, Liabilities | ||||||||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability Value | 2,351 | 11,735 | 2,351 | 11,735 | $ 3,294 | $ 7,545 | $ 14,527 | $ 1,235 |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Issuances | 0 | 0 | 3,624 | 15,338 | ||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Settlements | (943) | (2,792) | (8,818) | (4,838) | ||||
Money Market Funds [Member] | ||||||||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||||||
Investments, Fair Value Disclosure | 74 | 5 | 74 | 5 | ||||
Investments, Fair Value Disclosure | 74 | 5 | 74 | 5 | ||||
Mutual Fund [Member] | ||||||||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||||||
Investments, Fair Value Disclosure | 3,563 | 3,223 | 3,563 | 3,223 | ||||
Investments, Fair Value Disclosure | 3,563 | 3,223 | 3,563 | 3,223 | ||||
Fair Value, Inputs, Level 3 [Member] | ||||||||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||||||
Financial Transmission Rights Fair Value Disclosure | 2,351 | 7,545 | 2,351 | 7,545 | ||||
Forward Power Contracts Fair Value Disclosure | 0 | 0 | 0 | 0 | ||||
Investments, Fair Value Disclosure | 0 | 0 | 0 | 0 | ||||
Assets, Fair Value Disclosure | 2,351 | 7,545 | 2,351 | 7,545 | ||||
Investments, Fair Value Disclosure | 0 | 0 | 0 | 0 | ||||
Financial Transmission Rights Fair Value Disclosure | 2,351 | 7,545 | 2,351 | 7,545 | ||||
Assets, Fair Value Disclosure | 2,351 | 7,545 | 2,351 | 7,545 | ||||
Fair Value, Inputs, Level 3 [Member] | Money Market Funds [Member] | ||||||||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||||||
Investments, Fair Value Disclosure | 0 | 0 | 0 | 0 | ||||
Investments, Fair Value Disclosure | 0 | 0 | 0 | 0 | ||||
Fair Value, Inputs, Level 3 [Member] | Mutual Fund [Member] | ||||||||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||||||
Investments, Fair Value Disclosure | 0 | 0 | 0 | 0 | ||||
Investments, Fair Value Disclosure | 0 | 0 | 0 | 0 | ||||
Fair Value, Inputs, Level 2 [Member] | ||||||||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||||||
Financial Transmission Rights Fair Value Disclosure | 0 | 0 | 0 | 0 | ||||
Forward Power Contracts Fair Value Disclosure | 21,922 | 12,172 | 21,922 | 12,172 | ||||
Investments, Fair Value Disclosure | 0 | 0 | 0 | 0 | ||||
Assets, Fair Value Disclosure | 21,922 | 12,172 | 21,922 | 12,172 | ||||
Investments, Fair Value Disclosure | 0 | 0 | 0 | 0 | ||||
Financial Transmission Rights Fair Value Disclosure | 0 | 0 | 0 | 0 | ||||
Assets, Fair Value Disclosure | 21,922 | 12,172 | 21,922 | 12,172 | ||||
Fair Value, Inputs, Level 2 [Member] | Money Market Funds [Member] | ||||||||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||||||
Investments, Fair Value Disclosure | 0 | 0 | 0 | 0 | ||||
Investments, Fair Value Disclosure | 0 | 0 | 0 | 0 | ||||
Fair Value, Inputs, Level 2 [Member] | Mutual Fund [Member] | ||||||||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||||||
Investments, Fair Value Disclosure | 0 | 0 | 0 | 0 | ||||
Investments, Fair Value Disclosure | 0 | 0 | 0 | 0 | ||||
Fair Value, Inputs, Level 1 [Member] | ||||||||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||||||
Financial Transmission Rights Fair Value Disclosure | 0 | 0 | 0 | 0 | ||||
Forward Power Contracts Fair Value Disclosure | 0 | 0 | 0 | 0 | ||||
Investments, Fair Value Disclosure | 3,637 | 3,228 | 3,637 | 3,228 | ||||
Assets, Fair Value Disclosure | 3,637 | 3,228 | 3,637 | 3,228 | ||||
Investments, Fair Value Disclosure | 3,637 | 3,228 | 3,637 | 3,228 | ||||
Financial Transmission Rights Fair Value Disclosure | 0 | 0 | 0 | 0 | ||||
Assets, Fair Value Disclosure | 3,637 | 3,228 | 3,637 | 3,228 | ||||
Fair Value, Inputs, Level 1 [Member] | Money Market Funds [Member] | ||||||||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||||||
Investments, Fair Value Disclosure | 74 | 5 | 74 | 5 | ||||
Investments, Fair Value Disclosure | 74 | 5 | 74 | 5 | ||||
Fair Value, Inputs, Level 1 [Member] | Mutual Fund [Member] | ||||||||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||||||
Investments, Fair Value Disclosure | 3,563 | 3,223 | 3,563 | 3,223 | ||||
Investments, Fair Value Disclosure | 3,563 | $ 3,223 | 3,563 | $ 3,223 | ||||
Designated as Hedging Instrument [Member] | Interest Rate Swap [Member] | ||||||||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||||||
Derivative, Notional Amount | $ 400,000 | $ 400,000 |
Fair Value Summary of fair valu
Fair Value Summary of fair value Assets and Liabilities Measured on a Recurring Basis (Details) - USD ($) $ in Thousands | Sep. 30, 2023 | Sep. 30, 2022 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investments, Fair Value Disclosure | $ 3,637 | $ 3,228 |
Financial Transmission Rights Fair Value Disclosure | 2,351 | 7,545 |
Assets, Fair Value Disclosure | 27,910 | 22,945 |
Fair Value, Inputs, Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investments, Fair Value Disclosure | 3,637 | 3,228 |
Financial Transmission Rights Fair Value Disclosure | 0 | 0 |
Assets, Fair Value Disclosure | 3,637 | 3,228 |
Fair Value, Inputs, Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investments, Fair Value Disclosure | 0 | 0 |
Financial Transmission Rights Fair Value Disclosure | 0 | 0 |
Assets, Fair Value Disclosure | 21,922 | 12,172 |
Fair Value, Inputs, Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investments, Fair Value Disclosure | 0 | 0 |
Financial Transmission Rights Fair Value Disclosure | 2,351 | 7,545 |
Assets, Fair Value Disclosure | 2,351 | 7,545 |
Money Market Funds [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investments, Fair Value Disclosure | 74 | 5 |
Money Market Funds [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investments, Fair Value Disclosure | 74 | 5 |
Money Market Funds [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investments, Fair Value Disclosure | 0 | 0 |
Money Market Funds [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investments, Fair Value Disclosure | 0 | 0 |
Mutual Fund [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investments, Fair Value Disclosure | 3,563 | 3,223 |
Mutual Fund [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investments, Fair Value Disclosure | 3,563 | 3,223 |
Mutual Fund [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investments, Fair Value Disclosure | 0 | 0 |
Mutual Fund [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investments, Fair Value Disclosure | $ 0 | $ 0 |
Fair Value (Schedule Of Face An
Fair Value (Schedule Of Face And Fair Value Of Debt) (Details) - USD ($) $ in Thousands | Sep. 30, 2023 | Dec. 31, 2022 |
Debt Instrument [Line Items] | ||
Debt Instrument, Unamortized Discount | $ 6,800 | $ 7,100 |
Face Value | 3,108,800 | 3,033,800 |
Fair Value | 2,805,357 | 2,775,644 |
Fixed Rate [Member] | ||
Debt Instrument [Line Items] | ||
Face Value | 3,033,800 | 3,033,800 |
Fair Value | 2,730,357 | 2,775,644 |
Variable Rate [Member] | ||
Debt Instrument [Line Items] | ||
Face Value | 75,000 | 0 |
Fair Value | $ 75,000 | $ 0 |
Derivative Instruments and He_3
Derivative Instruments and Hedging Activities (Details) MWh in Thousands | 3 Months Ended | 9 Months Ended | ||||||||
Sep. 30, 2023 USD ($) MWh | Jun. 30, 2023 USD ($) | Mar. 31, 2023 USD ($) | Sep. 30, 2022 USD ($) | Jun. 30, 2022 USD ($) | Mar. 31, 2022 USD ($) | Sep. 30, 2023 USD ($) MWh | Sep. 30, 2022 USD ($) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 USD ($) | |
Other Comprehensive Income (Loss), Net of Tax | $ 8,840,000 | $ 9,732,000 | $ (7,174,000) | $ 14,494,000 | $ 20,283,000 | $ 16,923,000 | $ 11,398,000 | $ 51,700,000 | ||
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Net of Tax | 7,482,000 | 13,136,000 | 7,325,000 | 47,627,000 | ||||||
Interest Rate Cash Flow Hedge Gain (Loss) to be Reclassified During Next 12 Months, Net | (5,375,000) | (5,375,000) | ||||||||
Reclassification from AOCI, Current Period, Net of Tax, Attributable to Parent | 1,358,000 | 1,358,000 | 4,073,000 | 4,073,000 | ||||||
Accumulated Other Comprehensive Income (Loss), Net of Tax | 33,667,000 | $ 24,827,000 | $ 7,799,000 | $ 33,667,000 | $ 22,269,000 | $ (29,407,000) | ||||
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax | 13,136,000 | 47,627,000 | ||||||||
Maximum Length of Time Hedged in Cash Flow Hedge | 12 months | |||||||||
Regulatory assets | 70,578,000 | $ 70,578,000 | 119,723,000 | |||||||
Derivative Instruments Not Designated as Hedging Instruments, Gain | 0 | 1,300,000 | ||||||||
Derivative Instruments Not Designated as Hedging Instruments, Loss | 0 | 200,000 | ||||||||
Regulatory assets | 70,578,000 | 70,578,000 | 119,723,000 | |||||||
Derivative Instruments Not Designated as Hedging Instruments, Gain | $ 0 | $ 1,300,000 | ||||||||
FTR [Member] | Not Designated as Hedging Instrument [Member] | ||||||||||
Purchase of Units Derivative Instruments Financial Transmission Rights | MWh | 6,264 | 6,264 | ||||||||
Sale of Units Derivative Instruments Financial Transmission Rights | MWh | 0 | 0 | ||||||||
Derivative, Nonmonetary Notional Amount, Purchase (Sales), Net | MWh | 6,264 | 6,264 | ||||||||
Interest Rate Swap [Member] | Designated as Hedging Instrument [Member] | ||||||||||
Purchase of Derivative Instruments Interest Rate Swap | $ 400,000,000 | $ 400,000,000 | ||||||||
Sale of Derivative Instruments Interest Rate Swap | 0 | 0 | ||||||||
Derivative, Notional Amount, Purchase (Sales), Net | 400,000,000 | 400,000,000 | ||||||||
Interest Rate Contract [Member] | ||||||||||
Accumulated Other Comprehensive Income (Loss), Cumulative Changes in Net Gain (Loss) from Cash Flow Hedges, Effect Net of Tax | 33,667,000 | $ 22,293,000 | 33,667,000 | $ 22,293,000 | ||||||
Other Current Assets [Member] | FTR [Member] | Not Designated as Hedging Instrument [Member] | ||||||||||
Derivative Asset, Fair Value, Gross Asset | 2,351,000 | 2,351,000 | 7,545,000 | |||||||
Other Current Assets [Member] | interest rate hedge | Not Designated as Hedging Instrument [Member] | ||||||||||
Derivative Asset, Fair Value, Gross Asset | 21,922,000 | 21,922,000 | 0 | |||||||
Derivative Instruments and Hedges, Noncurrent | $ 0 | $ 0 | $ 12,172,000 |
Debt (Schedule Long-Term Indebt
Debt (Schedule Long-Term Indebtedness) (Details) - USD ($) $ in Thousands | Sep. 30, 2023 | Dec. 31, 2022 | Sep. 30, 2022 |
Debt Instrument [Line Items] | |||
Unamortized discount - net | $ (6,800) | $ (7,100) | |
Deferred financing costs | (25,200) | (26,300) | |
Long-term debt | 3,002,721 | 3,000,450 | |
Less: Current Portion of Long-term Debt | 404,273 | 0 | |
Net Consolidated IPALCO Long-term Debt | 2,598,448 | 3,000,450 | |
Indianapolis Power And Light Company [Member] | |||
Debt Instrument [Line Items] | |||
First mortgage bonds | 2,127,963 | 2,126,787 | |
Unamortized discount - net | (6,499) | (6,651) | |
Long-term debt | $ 2,127,963 | 2,126,787 | |
Indianapolis Power And Light Company [Member] | First Mortgage Bond 4.55% Due December 2024 [Member] | |||
Debt Instrument [Line Items] | |||
Debt, stated interest rate | 3.125% | ||
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% | ||
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% | ||
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% | ||
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% | ||
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% | ||
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% | ||
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% | ||
First mortgage bonds | $ 260,000 | 260,000 | |
Indianapolis Power And Light Company [Member] | FMB Twenty [Member] | |||
Debt Instrument [Line Items] | |||
Debt, stated interest rate | 4.05% | ||
First mortgage bonds | $ 350,000 | 350,000 | |
Indianapolis Power And Light Company [Member] | FMB Twenty - one [Member] | |||
Debt Instrument [Line Items] | |||
Debt, stated interest rate | 4.875% | ||
First mortgage bonds | $ 105,000 | 105,000 | |
Indianapolis Power And Light Company [Member] | FMB Twenty - two | |||
Debt Instrument [Line Items] | |||
Debt, stated interest rate | 0.75% | ||
First mortgage bonds | $ 30,000 | 30,000 | |
Indianapolis Power And Light Company [Member] | FMB Twenty - three | |||
Debt Instrument [Line Items] | |||
Debt, stated interest rate | 0.95% | ||
First mortgage bonds | $ 60,000 | 60,000 | |
Indianapolis Power And Light Company [Member] | FMB Twenty - four | |||
Debt Instrument [Line Items] | |||
Debt, stated interest rate | 1.40% | ||
First mortgage bonds | $ 55,000 | 55,000 | |
Indianapolis Power And Light Company [Member] | FMB Twenty - five | |||
Debt Instrument [Line Items] | |||
Debt, stated interest rate | 0.65% | ||
First mortgage bonds | $ 40,000 | 40,000 | |
Indianapolis Power And Light Company [Member] | First Mortgage Bond Twenty Six | |||
Debt Instrument [Line Items] | |||
Debt, stated interest rate | 5.65% | ||
First mortgage bonds | $ 350,000 | 350,000 | |
Ipalco Enterprises, Inc. [Member] | |||
Debt Instrument [Line Items] | |||
Unamortized discount - net | (346) | (425) | |
Deferred financing costs | (4,896) | (5,912) | |
Net Consolidated IPALCO Long-term Debt | $ 874,758 | 873,663 | |
Ipalco Enterprises, Inc. [Member] | Three Point Seven Zero Percent Senior Secured Notes [Domain] | |||
Debt Instrument [Line Items] | |||
Debt, stated interest rate | 3.70% | ||
Long-term debt | $ 405,000 | 405,000 | |
Ipalco Enterprises, Inc. [Member] | Four Point Two Five Percent Senior Secured Notes | |||
Debt Instrument [Line Items] | |||
Debt, stated interest rate | 4.25% | ||
Long-term debt | $ 475,000 | 475,000 | |
First Mortgage Bonds [Member] | Indianapolis Power And Light Company [Member] | |||
Debt Instrument [Line Items] | |||
Deferred financing costs | (19,338) | $ (20,362) | |
Line of Credit [Member] | Committed Line of Credit [Member] | |||
Debt Instrument [Line Items] | |||
Line of credit, outstanding borrowings | $ 75,000 | $ 0 |
Debt (Narrative) (Details)
Debt (Narrative) (Details) - USD ($) $ in Thousands | Sep. 30, 2023 | Dec. 31, 2022 | Sep. 30, 2022 |
Debt Instrument [Line Items] | |||
Long-term Debt | $ 3,002,721 | $ 3,000,450 | |
Subsidiaries [Member] | |||
Debt Instrument [Line Items] | |||
Long-term Debt | 2,127,963 | 2,126,787 | |
Secured Debt | 2,127,963 | 2,126,787 | |
Subsidiaries [Member] | FMB Twenty - four | |||
Debt Instrument [Line Items] | |||
Secured Debt | $ 55,000 | 55,000 | |
Debt Instrument, Interest Rate, Stated Percentage | 1.40% | ||
Subsidiaries [Member] | FMB Twenty - five | |||
Debt Instrument [Line Items] | |||
Secured Debt | $ 40,000 | 40,000 | |
Debt Instrument, Interest Rate, Stated Percentage | 0.65% | ||
Parent Company [Member] | Three Point Four Five Percent Senior Secured Notes [Member] | |||
Debt Instrument [Line Items] | |||
Long-term Debt | $ 475,000 | 475,000 | |
Debt Instrument, Interest Rate, Stated Percentage | 4.25% | ||
Parent Company [Member] | Three Point Seven Zero Percent Senior Secured Notes [Domain] | |||
Debt Instrument [Line Items] | |||
Long-term Debt | $ 405,000 | $ 405,000 | |
Debt Instrument, Interest Rate, Stated Percentage | 3.70% | ||
Line of Credit [Member] | Committed Line of Credit [Member] | |||
Debt Instrument [Line Items] | |||
Line of credit, outstanding borrowings | $ 75,000 | $ 0 |
Income Taxes (Narrative) (Detai
Income Taxes (Narrative) (Details) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Income Tax Disclosure [Abstract] | ||||
State and federal income tax rate | 9.70% | 19.50% | 12.20% | 20.50% |
Effective Income Tax Rate Reconciliation, at Combined Federal and State Statutory Income Tax Rate, Percent | 24.90% | |||
Income Tax Contingency [Line Items] | ||||
State and federal income tax rate | 9.70% | 19.50% | 12.20% | 20.50% |
Estimated Annual Effective Income Tax Rate | 12.20% |
Benefit Plans (Narrative) (Deta
Benefit Plans (Narrative) (Details) $ in Millions | Sep. 30, 2023 USD ($) |
Postretirement Health Care Benefits [Member] | Subsidiaries [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Unfunded obligation | $ 3.2 |
Benefit Plans (Schedule Of Defi
Benefit Plans (Schedule Of Defined Benefit Plans Disclosures) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Net Unfunded Status of Plans [Roll Forward] | ||||
Service cost | $ (1,297) | $ (2,238) | $ (3,892) | $ (6,714) |
Interest cost | (7,455) | (4,530) | (22,365) | (13,570) |
Expected return on assets | 8,277 | 8,914 | 24,830 | 26,747 |
Regulatory Assets Related to Pensions [Roll Forward] | ||||
Amortization of prior service cost | (543) | (647) | (1,629) | (1,942) |
Defined Benefit Plan, Amortization of Gain (Loss) | $ (1,536) | $ (603) | $ (4,608) | $ (1,815) |
Benefit Plans (Schedule Of Net
Benefit Plans (Schedule Of Net Periodic Benefit Costs) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Retirement Benefits [Abstract] | ||||
Service cost | $ 1,297 | $ 2,238 | $ 3,892 | $ 6,714 |
Interest cost | 7,455 | 4,530 | 22,365 | 13,570 |
Expected return on assets | (8,277) | (8,914) | (24,830) | (26,747) |
Amortization of prior service cost | 543 | 647 | 1,629 | 1,942 |
Amortization of actuarial loss | 1,536 | 603 | 4,608 | 1,815 |
Net periodic benefit cost | $ 2,554 | $ (896) | $ 7,664 | $ (2,706) |
Commitments and Contingencies (
Commitments and Contingencies (Details) - USD ($) $ in Millions | Sep. 30, 2023 | Dec. 31, 2022 |
Entity Information [Line Items] | ||
Total Legal Loss Contingencies Accrued | $ 0.2 | $ 0.1 |
Business Segment Information (D
Business Segment Information (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | Dec. 31, 2022 | |
Segment Reporting Information [Line Items] | |||||
Income Tax Expense (Benefit) | $ 3,802 | $ 6,020 | $ 8,663 | $ 18,274 | |
Net Income (Loss) Attributable to Parent | 35,431 | 24,838 | 62,552 | 71,077 | |
UTILITY OPERATING REVENUES | 402,887 | 494,194 | 1,290,580 | 1,307,919 | |
Depreciation and amortization | 72,021 | 66,810 | 212,292 | 199,096 | |
Interest Expense | 34,471 | 32,630 | 104,510 | 96,552 | |
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest | 39,233 | 30,858 | 71,215 | 89,351 | |
Assets | 5,733,289 | 5,589,214 | 5,733,289 | 5,589,214 | $ 5,589,214 |
Electric [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Depreciation and amortization | 72,021 | 66,810 | 212,292 | 199,096 | |
Interest Expense | 23,502 | 21,697 | 71,604 | 63,703 | |
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest | 49,887 | 42,032 | 104,005 | 122,780 | |
Assets | 5,684,275 | 5,559,977 | 5,684,275 | 5,559,977 | |
Other Segments [Member] | |||||
Segment Reporting Information [Line Items] | |||||
UTILITY OPERATING REVENUES | 0 | 0 | 0 | 0 | |
Depreciation and amortization | 0 | 0 | 0 | 0 | |
Interest Expense | 10,969 | 10,933 | 32,906 | 32,849 | |
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest | (10,654) | (11,174) | (32,790) | (33,429) | |
Assets | 49,014 | 29,237 | 49,014 | 29,237 | |
Electricity [Member] | |||||
Segment Reporting Information [Line Items] | |||||
UTILITY OPERATING REVENUES | $ 402,887 | $ 494,194 | $ 1,290,580 | $ 1,307,919 |
Revenue (Details)
Revenue (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | Dec. 31, 2022 | |
Disaggregation of Revenue [Line Items] | |||||
Contract with Customer, Asset, before Allowance for Credit Loss | $ 167,600 | $ 167,600 | $ 198,300 | ||
Revenue from Contract with Customer, Excluding Assessed Tax | 393,900 | $ 486,300 | 1,265,000 | $ 1,285,500 | |
REVENUES | 402,887 | 494,194 | 1,290,580 | 1,307,919 | |
Retail Revenue [Member] | |||||
Disaggregation of Revenue [Line Items] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax | 384,925 | 412,287 | 1,212,162 | 1,173,254 | |
Other non-606 revenue | 7,877 | 7,457 | 23,153 | 20,381 | |
Wholesale Revenue [Member] | |||||
Disaggregation of Revenue [Line Items] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax | 7,794 | 67,374 | 41,489 | 100,691 | |
Miscellaneous revenue [Member] | |||||
Disaggregation of Revenue [Line Items] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax | 1,221 | 6,609 | 11,359 | 11,557 | |
Other non-606 revenue | 1,070 | 467 | 2,417 | 2,036 | |
RTO Capacity Revenue | 0 | 8,155 | 6,752 | ||
Electricity [Member] | |||||
Disaggregation of Revenue [Line Items] | |||||
REVENUES | 402,887 | 494,194 | 1,290,580 | 1,307,919 | |
Utility | Retail Revenue [Member] | |||||
Disaggregation of Revenue [Line Items] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax | 4,253 | 4,645 | 13,286 | 13,430 | |
Utility | Retail Revenue [Member] | Residential Revenue | |||||
Disaggregation of Revenue [Line Items] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax | 162,531 | 172,623 | 515,920 | 511,515 | |
Utility | Retail Revenue [Member] | Small Commercial and Industrial | |||||
Disaggregation of Revenue [Line Items] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax | 58,777 | 62,764 | 186,313 | 183,356 | |
Utility | Retail Revenue [Member] | Large Commercial and Industrial | |||||
Disaggregation of Revenue [Line Items] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax | 156,995 | 169,777 | 489,190 | 457,723 | |
Utility | Retail Revenue [Member] | Public Lighting | |||||
Disaggregation of Revenue [Line Items] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax | 2,369 | 2,478 | 7,453 | 7,230 | |
Transmission Revenue | Miscellaneous revenue [Member] | |||||
Disaggregation of Revenue [Line Items] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax | $ 1,221 | 1,610 | $ 3,204 | $ 4,805 | |
RTO Capacity Revenue | $ 4,999 |
Leases (Details)
Leases (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Leases [Abstract] | ||||
Operating Lease, Lease Income | $ 455 | $ 274 | $ 1,275 | $ 880 |
Lessor, Operating Lease, Payment to be Received, Year One | 136 | 136 | ||
Lessor, Operating Lease, Payment to be Received, Year Two | 544 | 544 | ||
Lessor, Operating Lease, Payment to be Received, Year Three | 553 | 553 | ||
Lessor, Operating Lease, Payment to be Received, Year Four | 554 | 554 | ||
Lessor, Operating Lease, Payment to be Received, Year Five | 554 | 554 | ||
Lessor, Operating Lease, Payment to be Received, after Year Five | 1,245 | 1,245 | ||
Lessor, Operating Lease, Payments to be Received | 3,586 | 3,586 | ||
Lessor, Operating Lease, Assumptions and Judgments, Value of Underlying Asset, Amount | 4,341 | 4,334 | 4,341 | 4,334 |
Property Subject to or Available for Operating Lease, Accumulated Depreciation | (1,181) | (1,060) | (1,181) | (1,060) |
Lessee, Lease, Description [Line Items] | ||||
Operating Lease, Lease Income | 455 | 274 | 1,275 | 880 |
Lessor, Operating Lease, Assumptions and Judgments, Value of Underlying Asset, Amount | 4,341 | 4,334 | 4,341 | 4,334 |
Property Subject to or Available for Operating Lease, Accumulated Depreciation | (1,181) | (1,060) | (1,181) | (1,060) |
Property, Plant, and Equipment, Lessor Asset under Operating Lease, after Accumulated Depreciation | $ 3,160 | $ 3,274 | $ 3,160 | $ 3,274 |