Ipalco Enterprises 10-Q 31 Oct 24 2024 Q3 Quarterly report Financial data

Cover

Cover - shares	9 Months Ended
	Sep. 30, 2024	Oct. 31, 2024
Entity Information [Line Items]
Document Fiscal Year Focus	2024
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, 2024
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, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Costs and Expenses	$ 344,560	$ 331,684	$ 1,011,646	$ 1,122,731
REVENUE	449,171	402,887	1,254,566	1,290,580
Cost of Revenue [Abstract]
Fuel Costs	96,103	96,698	276,661	411,864
Cost of Goods and Services Sold	31,100	35,748	113,836	122,410
OPERATING EXPENSES:
Utilities Operating Expense, Maintenance and Operations	125,849	120,858	350,309	356,386
Depreciation and amortization	85,493	72,021	248,846	212,292
Taxes other than income taxes	6,130	6,359	20,572	19,779
Operating Income (Loss)	104,611	71,203	242,920	167,849
Allowance for equity funds used during construction	1,485	3,134	3,585	7,089
Interest Expense	44,198	34,471	131,681	104,510
Other Nonoperating Income (Expense)	484	(633)	(266)	787
Nonoperating Income (Expense)	(42,229)	(31,970)	(128,362)	(96,634)
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest	62,382	39,233	114,558	71,215
Income Tax Expense (Benefit)	8,314	3,802	24,833	8,663
Net income	54,068	35,431	89,725	62,552
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Noncontrolling Interest		0	(24,171)	0
Net Income (Loss) Available to Common Stockholders, Basic	54,940	35,431	113,896	62,552
Business Combination, Step Acquisition, Equity Interest in Acquiree, Remeasurement Gain (Loss), Net	(115)	0	1,422	0
OPERATING INCOME	104,611	71,203	242,920	167,849
OTHER (EXPENSE) / INCOME, NET:
Allowance for equity funds used during construction	1,485	3,134	3,585	7,089
Interest Expense	(44,198)	(34,471)	(131,681)	(104,510)
Other Nonoperating Income (Expense)	484	(633)	(266)	787
Total other expense, net	(42,229)	(31,970)	(128,362)	(96,634)
INCOME BEFORE INCOME TAX
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest	62,382	39,233	114,558	71,215
Income Tax Expense (Benefit)	8,314	3,802	24,833	8,663
NET INCOME	54,068	35,431	89,725	62,552
NET INCOME ATTRIBUTABLE TO COMMON STOCK	$ 54,940	$ 35,431	$ 113,896	$ 62,552

Unaudited Condensed Consolida_2

Unaudited Condensed Consolidated Statements of Comprehensive Income Statement - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Tax	$ 0	$ (2,477)	$ (2,193)	$ (2,425)
Net Income (Loss) Available to Common Stockholders, Basic	54,940	35,431	113,896	62,552
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Net of Tax	0	7,482	6,626	7,325
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Net of Tax	(434)	8,840	6,518	11,398
Other Comprehensive Income (Loss), Net of Tax	(434)	8,840	6,518	11,398
Other Comprehensive Income (Loss), before Tax	53,634	44,271	96,243	73,950
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest	54,506	44,271
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, Net of Tax	(434)	1,358	(108)	4,073
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, Tax	144	(449)	36	(1,348)
Net Income (Loss) Attributable to Noncontrolling Interest	$ (872)	$ 0	(24,171)	0
Other Comprehensive Income (Loss), before Tax, Portion Attributable to Parent			$ 120,414	$ 73,950

Unaudited Condensed Consolida_3

Unaudited Condensed Consolidated Balance Sheets - USD ($)	Sep. 30, 2024	Dec. 31, 2023
CURRENT ASSETS:
Cash and cash equivalents	$ 48,308,000	$ 28,579,000
Restricted Cash and Cash Equivalents	5,000
Accounts Receivable, after Allowance for Credit Loss, Current	322,701,000	233,921,000
Accounts Receivable, Allowance for Credit Loss, Current	17,087,000	2,283,000
Inventory, Net	125,090,000	143,590,000
Regulatory assets	126,470,000	89,419,000
Income Taxes Receivable, Current	20,723,000	36,481,000
Derivative Asset	2,817,000	15,682,000
Other Assets, Current	35,936,000	26,358,000
Total current assets	682,045,000	574,030,000
UTILITY PLANT:
Property, Plant and Equipment, Gross	7,560,533,000	7,082,443,000
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment	2,995,834,000	2,954,555,000
Utility plant in service - net	4,564,699,000	4,127,888,000
Construction in Progress, Gross	869,363,000	359,014,000
Total net property, plant and equipment	5,434,062,000	4,486,902,000
Other Assets, Noncurrent [Abstract]
Intangible Assets, Net (Excluding Goodwill)	234,136,000	235,656,000
Regulatory assets	474,963,000	541,784,000
Assets for Plan Benefits, Defined Benefit Plan	39,502,000	41,172,000
Other Assets, Miscellaneous, Noncurrent	168,235,000	301,979,000
Total other non-current assets	916,836,000	1,120,591,000
TOTAL ASSETS	7,032,943,000	6,181,523,000
CURRENT LIABILITIES:
Debt, Current	430,383,000	899,159,000
Accounts payable	278,667,000	292,851,000
Accrued taxes	29,898,000	22,580,000
Interest Payable, Current	83,813,000	33,639,000
Customer deposits	21,319,000	29,308,000
Regulatory Liability, Current	8,322,000	23,371,000
Accrued Liabilities and Other Liabilities	28,548,000	27,547,000
Total current liabilities	907,334,000	1,328,455,000
Long-term Debt and Lease Obligation	3,641,207,000	2,576,798,000
Deferred Income Tax Liabilities, Net	387,512,000	361,488,000
NON-CURRENT LIABILITIES:
Regulatory Liability, Noncurrent	443,691,000	527,224,000
Accrued other postretirement benefits	2,946,000	2,776,000
Asset retirement obligations, non-current	320,166,000	249,930,000
Other non-current liabilities	19,726,000	5,130,000
Total non-current liabilities	4,815,248,000	3,723,346,000
Liabilities	$ 5,722,582,000	$ 5,051,801,000
Common Stock, Shares, Outstanding	108,907,000	108,907,318
Common Stock, Shares Authorized	290,000,000
Common shareholders' equity:
Additional Paid in Capital	$ 1,172,058,000	$ 1,021,992,000
Accumulated Other Comprehensive Income (Loss), Net of Tax	35,812,000	29,294,000
Accumulated deficit	28,932,000	25,182,000
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	1,310,361,000	1,129,722,000
Equity, Attributable to Noncontrolling Interest	73,559,000	53,254,000
Total common shareholders' equity	1,236,802,000	1,076,468,000
TOTAL LIABILITIES AND EQUITY	$ 7,032,943,000	$ 6,181,523,000

Unaudited Condensed Consolida_4

Unaudited Condensed Consolidated Statements Of Cash Flows - USD ($)	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
CASH FLOWS FROM OPERATIONS:
Net income	$ 89,725,000	$ 62,552,000
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	248,846,000	212,292,000
Amortization of deferred financing costs and debt discounts	2,735,000	2,889,000
Deferred income taxes and investment tax credit adjustments - net	8,072,000	32,735,000
Allowance for equity funds used during construction	(3,585,000)	(7,089,000)
Gain (Loss) on Disposition of Intangible Assets	1,422,000	0
Change in certain assets and liabilities:
Accounts receivable	(69,259,000)	32,200,000
Inventories	16,845,000	(30,264,000)
Accounts payable	(52,219,000)	(28,669,000)
Accrued and other current liabilities	(11,292,000)	2,137,000
Accrued taxes payable/receivable	26,944,000	(20,103,000)
Accrued interest	50,174,000	11,325,000
Pension and other postretirement benefit assets and liabilities	1,840,000	1,390,000
Current and non-current regulatory assets and liabilities	(119,289,000)	100,822,000
Prepayments and other current assets	(819,000)	9,728,000
Increase (Decrease) in Other Noncurrent Liabilities	5,173,000	(9,226,000)
Other - net	(5,707,000)	(6,176,000)
Net cash provided by operating activities	191,244,000	347,087,000
CASH FLOWS FROM INVESTING ACTIVITIES:
Capital expenditures	(727,152,000)	(453,671,000)
Project development costs	(3,164,000)	(4,589,000)
Payments to Acquire Businesses, Net of Cash Acquired	(48,368,000)	0
Cost of removal payments	(26,080,000)	(36,749,000)
Net cash used in investing activities	(804,764,000)	(534,759,000)
CASH FLOWS FROM FINANCING ACTIVITIES:
Borrowings under revolving credit facilities	570,000,000	75,000,000
Repayments under revolving credit facilities	(675,000,000)	0
Borrowings under revolving credit facilities	300,000,000	0
Other Short-Term Borrowings	92,000,000	0
Short-term borrowings from affiliate	1,050,000,000	0
Repayments of Short-term Debt	(392,000,000)	0
Retirement of long-term borrowings	(405,000,000)	0
Distributions to shareholders	110,146,000	66,941,000
Proceeds from Contributions from Parent	150,000,000	0
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders	(2,459,000)	0
Noncontrolling Interest, Increase from Sale of Parent Equity Interest	(46,935,000)	0
Payments for financing fees	(14,173,000)	(85,000)
Proceeds received from termination of interest rate swaps	23,114,000	0
Payments of Financing Costs	(22,000)	(313,000)
Net cash provided by financing activities	633,249,000	7,661,000
Net change in cash, cash equivalents and restricted cash	19,729,000	(180,011,000)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	48,313,000	21,542,000
Cash paid during the period for:
Interest (net of amount capitalized)	78,842,000	82,541,000
Non-cash investing activities:
Capital Expenditures Incurred but Not yet Paid	162,662,000	106,674,000
Right-of-Use Asset Obtained in Exchange for Finance Lease Liability	72,066,000	983,000
Change in Right-of-Use Asset Lease Liability	(69,089,000)	(1,408,000)
Proceeds from Insurance Settlement, Investing Activities	0	4,900,000
Payments to Acquire Intangible Assets	$ 0	$ (44,650,000)

Unaudited Condensed Consolida_5

Unaudited Condensed Consolidated Statements of Common Stockholders' Equity ( Deficit) Statement - USD ($)	Total	Additional Paid-in Capital [Member]	AOCI Attributable to Parent [Member]	Retained Earnings [Member]	Common Stock [Member]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest		$ 1,068,357,000		$ (108,000)
Common Stock, Shares, Outstanding	108,907,000
Stockholders' Equity Attributable to Parent	$ 1,090,518,000				$ 0
Equity, Attributable to Noncontrolling Interest	0
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	19,115,000
Other Comprehensive Income (Loss), Net of Tax	(7,174,000)		$ (7,174,000)
Net Income (Loss) Available to Common Stockholders, Basic	19,115,000
Dividends, Common Stock	(31,395,000)
Stock Issued During Period, Value, Other	31,000	31,000
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest	0
Return of Capital		(12,280,000)
Payments of Ordinary Dividends, Common Stock	(19,115,000)
Payments to Noncontrolling Interests	0
Other Comprehensive Income (Loss), Net of Tax	11,398,000
Net Income (Loss) Available to Common Stockholders, Basic	62,552,000
Return of Capital	46,500,000
Proceeds from Contributions from Parent	0
Noncontrolling Interest, Increase from Sale of Parent Equity Interest	$ 0
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest		1,056,108,000	15,095,000	(108,000)
Common Stock, Shares, Outstanding	108,907,000
Stockholders' Equity Attributable to Parent	$ 1,071,095,000				0
Equity, Attributable to Noncontrolling Interest	0
Net Income (Loss) Attributable to Nonredeemable Noncontrolling Interest	8,006,000
Other Comprehensive Income (Loss), Net of Tax	9,732,000		9,732,000
Net Income (Loss) Available to Common Stockholders, Basic	8,006,000
Dividends, Common Stock	(35,546,000)
Stock Issued During Period, Value, Other	16,000	16,000
Return of Capital		(34,177,000)
Payments of Ordinary Dividends, Common Stock	(1,369,000)
Payments to Noncontrolling Interests	0
Noncontrolling Interest, Increase from Sale of Parent Equity Interest	0
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	$ 1,053,303,000	1,021,947,000	24,827,000	6,529,000
Common Stock, Shares, Outstanding	108,907,000
Stockholders' Equity Attributable to Parent					0
Equity, Attributable to Noncontrolling Interest	$ 0
Net Income (Loss) Attributable to Nonredeemable Noncontrolling Interest	35,431,000
Other Comprehensive Income (Loss), Net of Tax	8,840,000		8,840,000
Net Income (Loss) Available to Common Stockholders, Basic	35,431,000
Stock Issued During Period, Value, Other	21,000	21,000
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	$ 1,097,595,000	1,021,968,000	33,667,000	41,960,000
Common Stock, Shares, Outstanding	108,907,000
Stockholders' Equity Attributable to Parent					0
Equity, Attributable to Noncontrolling Interest	$ 0
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	$ 1,129,722,000	1,021,992,000		25,182,000
Common Stock, Shares, Outstanding	108,907,318
Stockholders' Equity Attributable to Parent	$ 1,076,468,000				0
Equity, Attributable to Noncontrolling Interest	53,254,000
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	17,162,000
Other Comprehensive Income (Loss), Net of Tax	7,386,000		7,386,000
Net Income (Loss) Available to Common Stockholders, Basic	17,162,000
Dividends, Common Stock	(26,720,000)
Stock Issued During Period, Value, Other	26,000	26,000
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest	(2,552,000)
Return of Capital		0
Payments of Ordinary Dividends, Common Stock	(26,720,000)
Payments to Noncontrolling Interests	(52,000)
Other Comprehensive Income (Loss), Net of Tax	6,518,000
Net Income (Loss) Available to Common Stockholders, Basic	113,896,000
Proceeds from Contributions from Parent	150,000,000
Noncontrolling Interest, Increase from Sale of Parent Equity Interest	$ 46,935,000
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest		1,022,018,000	36,680,000	15,624,000
Common Stock, Shares, Outstanding	108,907,000
Stockholders' Equity Attributable to Parent	$ 1,074,322,000				0
Equity, Attributable to Noncontrolling Interest	50,650,000
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	41,794,000
Other Comprehensive Income (Loss), Net of Tax	(434,000)		(434,000)
Net Income (Loss) Available to Common Stockholders, Basic	41,794,000
Dividends, Common Stock	(30,374,000)
Stock Issued During Period, Value, Other	29,000	29,000
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest	(20,747,000)
Return of Capital		0
Payments of Ordinary Dividends, Common Stock	(30,374,000)
Payments to Noncontrolling Interests	(623,000)
Proceeds from Contributions from Parent	150,000,000
Noncontrolling Interest, Increase from Sale of Parent Equity Interest	$ 46,935,000
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest		1,172,047,000	36,246,000	27,044,000
Common Stock, Shares, Outstanding	108,907,000
Stockholders' Equity Attributable to Parent	$ 1,235,337,000				0
Equity, Attributable to Noncontrolling Interest	76,215,000
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	54,940,000
Other Comprehensive Income (Loss), Net of Tax	(434,000)		(434,000)
Net Income (Loss) Available to Common Stockholders, Basic	54,940,000
Dividends, Common Stock	(53,052,000)
Stock Issued During Period, Value, Other	11,000	11,000
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest	(872,000)
Return of Capital		0
Payments of Ordinary Dividends, Common Stock	(53,052,000)
Payments to Noncontrolling Interests	(1,784,000)
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	$ 1,310,361,000	$ 1,172,058,000	$ 35,812,000	$ 28,932,000
Common Stock, Shares, Outstanding	108,907,000
Stockholders' Equity Attributable to Parent	$ 1,236,802,000				$ 0
Equity, Attributable to Noncontrolling Interest	$ 73,559,000

Overview and Summary Of Signifi

Overview and Summary Of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2024
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 530,000 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. The first 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 (for further discussion, see Note 2, ”Regulatory Matters - IRP Filings and Replacement Generation” ). The second station, Harding Street, consists of three natural gas-fired boilers and steam turbines and uses natural gas and fuel oil to power five 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, 2024, AES Indiana’s net electric generation capacity at these generating stations for winter is 3,070 MW and net summer capacity is 2,925 MW. AES Indiana also owns and operates two renewable energy projects, including a 195 MW solar project located in Clinton County, Indiana (the ” Hardy Hills Solar Project ” ), which achieved full commercial operations in May 2024, and a 106 MW wind facility located in Benton County, Indiana (the ” Hoosier Wind Project ” ), which was acquired in February 2024. See Note 2, " Regulatory Matters - IRP Filings and Replacement Generation" for further information. In August 2023, AES Indiana, through a wholly-owned subsidiary, completed the acquisition of Petersburg Energy Center, LLC, including the development of a 250 MW solar and 45 MW (180 MWh) energy storage facility (the ”Petersburg Energy Center Project ” ). The Petersburg Energy Center Project is expected to be completed in 2025. In June 2023, AES Indiana, through a wholly-owned subsidiary, executed an agreement for the construction of the 200 MW (800 MWh) Pike County BESS Project to be developed at the AES Indiana Petersburg Plant site in Pike County, Indiana. The Pike County BESS Project is expected to be completed in early 2025. For further discussion about AES Indiana’s plans for wind, solar, and battery energy storage projects, please see Note 2, ”Regulatory Matters - IRP Filings and Replacement Generation” to IPALCO’s 2023 Form 10-K. 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. Furthermore, VIEs in which the Company has an ownership interest and is the primary beneficiary, thus controlling the VIE, have been consolidated. 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, 2024 are not necessarily indicative of expected results for the year ending December 31, 2024. The accompanying condensed consolidated financial statements are unaudited and should be read in conjunction with the 2023 audited consolidated financial statements and notes thereto, which are included in IPALCO’s 2023 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 revenue 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 revenue; 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. Cash, Cash Equivalents and Restricted Cash The following table provides a summary of cash, cash equivalents and restricted cash amounts reported within 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, 2024 2023 (In Thousands) Cash, cash equivalents and restricted cash Cash and cash equivalents $ 48,308 $ 28,579 Restricted cash (included in Prepayments and other current assets) 5 5 Total cash, cash equivalents and restricted cash $ 48,313 $ 28,584 Accounts Receivable and Allowance for Credit Losses The following table summarizes our accounts receivable balances at September 30, 2024 and December 31, 2023: September 30, December 31, 2024 2023 (In Thousands) Accounts receivable, net Customer receivables $ 196,714 $ 125,715 Unbilled revenue 98,194 91,463 Amounts due from related parties 7,005 5,178 Other 37,875 13,848 Allowance for credit losses (17,087) (2,283) Total accounts receivable, net $ 322,701 $ 233,921 The following table is a rollforward of our allowance for credit losses related to the accounts receivable balances for the periods indicated: Nine Months Ended September 30, $ in Thousands 2024 2023 Allowance for credit losses: Beginning balance $ 2,283 $ 1,117 Current period provision 14,018 5,536 Net write-offs charged against allowance (577) (6,940) Recoveries collected 1,363 1,351 Ending Balance $ 17,087 $ 1,064 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 the collectability, as applicable, of our receivables balance. Amounts are written off when reasonable collections efforts have been exhausted. During 2024, the current period provision and allowance for credit losses has increased due to higher past due customer receivables. AES Indiana temporarily paused customer disconnections and certain collection efforts and write-off processes after the implementation of AES Indiana's customer billing system upgrade in the fourth quarter of 2023. This has resulted in higher past due customer receivables and a higher allowance for credit losses as of September 30, 2024. AES Indiana currently anticipates reinstituting the customer disconnections process and collection efforts and write-off processes in the fourth quarter of 2024. Inventories The following table summarizes our inventory balances at September 30, 2024 and December 31, 2023: September 30, December 31, 2024 2023 (In Thousands) Inventories Fuel $ 55,977 $ 77,198 Materials and supplies, net 69,113 66,392 Total inventories $ 125,090 $ 143,590 ARO AES Indiana’s ARO liabilities relate primarily to environmental issues involving asbestos-containing materials, ash ponds, landfills and miscellaneous contaminants associated with its generating plants, transmission system and distribution system. The following is a roll forward of the ARO legal liabilities for the nine months ended September 30, 2024 and 2023, respectively: Nine Months Ended September 30, 2024 2023 (In Thousands) Balance as of January 1 $ 249,930 $ 218,729 Liabilities incurred 8,864 656 Liabilities settled (3,202) (9,946) Revisions to cash flow and timing estimates 81,714 — Accretion expense 9,244 7,352 Balance as of September 30 $ 346,550 $ 216,791 Less: ARO liabilities, current 26,384 — ARO liabilities, non-current $ 320,166 $ 216,791 ARO liabilities incurred in 2024 primarily relate to decommissioning costs for AES Indiana’s renewable projects, including liabilities incurred through acquisition of Hoosier Wind Project, LLC. AES Indiana recorded revisions to its ARO liabilities in 2024 primarily to reflect revisions to cash flow estimates due to increases in closure costs and groundwater treatment measures for ash ponds and landfills. As of September 30, 2024 and December 31, 2023, 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 2023 Form 10-K. AFUDC 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. AFUDC equity and AFUDC debt were as follows for the periods indicated: $ in thousands Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 AFUDC equity $ 1,485 $ 3,134 $ 3,585 $ 7,089 AFUDC debt $ 7,436 $ 3,841 $ 19,123 $ 9,505 Intangible Assets Finite-lived intangible assets primarily include capitalized software and project development intangible assets amortized over their useful lives. These capitalized software and project development intangible assets range from 7 to 35 year-weighted average amortization periods, respectively. The following table presents information related to the Company’s intangible assets, including the gross amount capitalized and related amortization: September 30, December 31, $ in thousands 2024 2023 Capitalized software $ 279,878 $ 261,872 Project development intangible assets 83,430 84,097 Other 797 797 Less: Accumulated amortization 129,969 111,110 Intangible assets - net $ 234,136 $ 235,656 Three Months Ended September 30, 2024 2023 Amortization expense $ 6,729 $ 3,654 Nine Months Ended September 30, 2024 2023 Amortization expense $ 20,458 $ 9,665 Accumulated Other Comprehensive Income The amounts reclassified out of AOCI by component during the three and nine months ended September 30, 2024 and 2023 are as follows (in Thousands): Details about AOCI components Affected line item in the Condensed Consolidated Statements of Operations Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Net (gains) / losses on cash flow hedges (Note 4): Interest expense $ (578) $ 1,807 $ (144) $ 5,421 Income tax effect 144 (449) 36 (1,348) Total reclassifications for the period, net of income taxes $ (434) $ 1,358 $ (108) $ 4,073 See Note 4, “ Derivative Instruments and Hedging Activities - Cash Flow Hedges ” for further information on the changes in the components of AOCI. New Accounting Pronouncements Issued But Not Yet Effective The following table provides a brief description of recent accounting pronouncements that could have a material impact on the Company’s Financial Statements once adopted. Accounting pronouncements not listed below were assessed and determined to be either not applicable or are expected to have no material impact on the Company’s Financial Statements. ASU Number and Name Description Date of Adoption Effect on the Financial Statements upon adoption 2023-07 Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures The amendments in this section are designed to improve the disclosures related to Segment reporting on an interim and annual basis. Public companies must disclose significant segment expenses and an amount for other segment items. This will also require that a company disclose its annual disclosures under Topic 280 in each interim period. Furthermore, companies will need to disclose the Chief Operating Decision Maker (CODM) and how the CODM assesses the performance of a segment. Lastly, public companies that have a single reportable segment must report the required disclosures under topic 280. The amendments in this Update are effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted. This ASU only affects disclosures, which will be provided when the amendment becomes effective. 2023-09 Income Taxes (Topic 740): Improvements to Income Tax Disclosures The amendments in this Update require that public business entities on an annual basis (1) disclose specific categories in the rate reconciliation and (2) provide additional information for reconciling items that meet a quantitative threshold. Furthermore, companies are required to disclose a disaggregated amount of income taxes paid at a federal, state, and foreign level as well as a break down of income taxes paid in a jurisdiction that comprises 5% of a company’s total income taxes paid. Lastly, this ASU requires that companies disclose income (loss) from continuing operations before income tax at a domestic and foreign level and that companies disclose income tax expense from continuing operations on a federal, state, and foreign level. The amendments in this Update are effective for fiscal years beginning after December 15, 2024. This ASU only affects disclosures, which will be provided when the amendment becomes effective.

Regulatory Matters

Regulatory Matters	9 Months Ended
	Sep. 30, 2024
Regulated Operations [Abstract]
Regulatory Matters	2. REGULATORY MATTERS Regulatory Rate Review On April 17, 2024, the IURC issued an order (the “2024 Base Rate Order”) approving the Stipulation and Settlement Agreement that AES Indiana entered into on November 22, 2023, with the OUCC and the other intervening parties in AES Indiana’s base rate case filing. Among other matters and consistent with the Stipulation and Settlement Agreement, the 2024 Base Rate Order approves an increase in AES Indiana's total annual operating revenue of $71 million for AES Indiana’s electric service and provides a return on common equity of 9.9% and cost of long-term debt of 4.90% on a rate base of approximately $3.5 billion. Updated customer rates and charges became effective on May 9, 2024. Storm Outage Restoration Inquiry On July 11, 2023, the OUCC and the CAC filed a Joint Petition through which they requested the IURC open an investigation into AES Indiana’s practices and procedures regarding storm outage restoration. A technical conference was held on October 2, 2023, to discuss AES Indiana’s response to outages and storm restoration; particularly the storms that occurred between June 29, 2023 and July 2, 2023. In its 2024 Base Rate Order, the IURC stated, "The uncontested evidence established that AES Indiana’s response to the June 29 storm was equal to or better than the response provided by other utilities, as evidenced by a comparison of storm response with the information other utilities provided at a September 28, 2023 technical conference regarding their respective response. The evidence also established that the priorities used to guide each utility’s restoration efforts and overall effort were the same." Contemporaneous with the 2024 Base Rate Order, this Joint Petition was dismissed with prejudice. DSM AES Indiana filed a petition with the IURC on May 31, 2024 asking for approval of a two year DSM plan for the 2025-2026 program years. The petition includes requested recovery of program operating costs as well as net lost revenue and financial incentives, depending on the level of success of the programs consistent with prior DSM plans. On October 1, 2024, AES Indiana and the OUCC filed settlement testimony with the IURC in support of approval of a Stipulation and Settlement Agreement reached between the settling parties (AES Indiana, OUCC, and CAC). An evidentiary hearing on this matter was held by the IURC on October 22, 2024. We expect the IURC to issue an order on this proceeding by the end of 2024. IRP Filings and Replacement Generation 2022 IRP In December 2022, AES Indiana filed its 2022 IRP with the IURC, which describes AES Indiana’s Preferred Resource Portfolio for meeting generation capacity needs for serving AES Indiana’s retail customers over the next several years. The Preferred Resource Portfolio is AES Indiana’s reasonable least cost option and provides a cleaner and more diverse generation mix for customers. The 2022 IRP short-term action plan includes converting the two remaining coal units at Petersburg to natural gas. Additionally, AES Indiana plans to add up to 1,300 MW of wind, solar, and battery energy storage by 2027. Petersburg Repowering On March 11, 2024, AES Indiana filed for approval of a CPCN with the IURC to convert Petersburg Units 3 and 4 from coal to natural gas and to recover costs through future rates. The conversion of Unit 3 is expected to begin in February 2026 and be completed by June 2026 and the conversion of Unit 4 is expected to begin in June 2026 and be completed by December 2026. An evidentiary hearing on this matter was held by the IURC on August 6, 2024. We expect the IURC to issue an order on this proceeding in the fourth quarter of 2024. Hardy Hills Solar Project In December 2023, the first stage of construction for the Hardy Hills Solar Project was completed and placed in service, with initial operations for over half of the project commencing on December 28, 2023. Construction was completed for the remaining MW and the project achieved full commercial operations in May 2024. Upon the final stage of the project being placed in service, the Company recognized $21.4 million of earnings from tax attributes using the HLBV method. Hoosier Wind Project In August 2023, AES Indiana filed for IURC issuance of a CPCN approving the acquisition of 100% of the membership interests in Hoosier Wind Project, LLC (the “Hoosier Wind Project”), which is an existing 106 MW wind facility located in Benton County, Indiana. IURC approval was received on January 24, 2024, and the transaction closed on February 29, 2024. Immediately following the acquisition of the Hoosier Wind Project, the legal entity was dissolved by AES Indiana. The transaction was accounted for as an asset acquisition that did not meet the definition of a business. Of the total consideration transferred of $92.6 million, including transaction costs, approximately $48.8 million was allocated to the identifiable assets acquired on a relative fair value basis, primarily consisting of tangible wind farm assets and typical working capital items. The remaining consideration was allocated to the termination of the pre-existing power purchase agreement between AES Indiana and the Hoosier Wind Project, which was deferred as a long-term regulatory asset. Crossvine Project On August 1, 2024, AES Indiana executed an agreement for the acquisition of a development stage solar and BESS project to be developed in Dubois County, Indiana. AES Indiana plans to build 85 MW of solar and 85 MW (340 MWh) of energy storage which is expected to be completed in mid-2027. This transaction is subject to approval from the IURC. AES Indiana filed a petition and case-in-chief with the IURC in August 2024, seeking a CPCN for this project.

Fair Value

Fair Value	9 Months Ended
	Sep. 30, 2024
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 2023 Form 10-K. Financial Assets 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 revenue 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 In March 2024, IPALCO’s interest rate hedges with a combined notional value of $400.0 million were terminated in conjunction with the issuance of the 2034 IPALCO Notes. 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, 2024 and December 31, 2023 measured on a recurring basis and the respective category within the fair value hierarchy for IPALCO was determined as follows: Fair Value as of September 30, 2024 Fair Value as of December 31, 2023 Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total (In Thousands) Financial assets: VEBA investments: Money market funds $ 83 $ — $ — $ 83 $ 127 $ — $ — $ 127 Mutual funds 3,855 — — 3,855 3,425 — — 3,425 Total VEBA investments 3,938 — — 3,938 3,552 — — 3,552 FTRs — — 2,817 2,817 — — 1,388 1,388 Interest rate hedges — — — — — 14,294 — 14,294 Total financial assets measured at fair value $ 3,938 $ — $ 2,817 $ 6,755 $ 3,552 $ 14,294 $ 1,388 $ 19,234 The following table presents a roll forward of financial instruments, measured at fair value on a recurring basis, classified as Level 3 in the fair value hierarchy (note, amounts in this table indicate carrying values, which approximate fair values): Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 (In Thousands) Beginning Balance $ 3,968 $ 3,294 $ 1,388 $ 7,545 Issuances — — 3,811 3,624 Settlements (1,151) (943) (2,382) (8,818) Ending Balance $ 2,817 $ 2,351 $ 2,817 $ 2,351 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, 2024 December 31, 2023 Face Value Fair Value Face Value Fair Value (In Thousands) Fixed-rate $ 3,678,800 $ 3,644,584 $ 3,033,800 $ 2,860,467 Variable-rate 350,000 350,000 455,000 455,000 Total indebtedness $ 4,028,800 $ 3,994,584 $ 3,488,800 $ 3,315,467 The difference between the face value and the carrying value of this indebtedness consists of the following: • unamortized deferred financing costs of $35.3 million and $24.8 million at September 30, 2024 and December 31, 2023, respectively; and • unamortized discounts of $9.5 million and $6.8 million at September 30, 2024 and December 31, 2023, respectively.

Derivative Instruments and Hedg

Derivative Instruments and Hedging Activities (Notes)	9 Months Ended
	Sep. 30, 2024
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 2023 Form 10-K. At September 30, 2024 , AES Indiana’s outstanding derivative instruments were as follows: Commodity Accounting Treatment Unit Notional Sales Net Notional FTRs Not Designated MWh 6,987 — 6,987 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 are determined by current public market prices. IPALCO’s three forward-starting interest rate swaps with a combined notional value of $400 million were terminated for total cash proceeds of $23.1 million, in conjunction with the issuance of the 2034 IPALCO Notes in March 2024. The AOCI associated with the interest rate swaps through the date of the termination will be amortized out of AOCI into interest expense over the 10-year life of the 2034 IPALCO Notes. The following table provides information on gains or losses recognized in AOCI 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) 2024 2023 2024 2023 Beginning accumulated derivative gain $ 36,246 $ 24,827 $ 29,294 $ 22,269 Net gains associated with current period hedging transactions — 7,482 6,626 7,325 Net (gains) / losses reclassified to interest expense, net of tax (434) 1,358 (108) 4,073 Ending accumulated derivative gain in AOCI $ 35,812 $ 33,667 $ 35,812 $ 33,667 Net gain expected to be reclassified to earnings in the next twelve months 1,737 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. 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 MTM 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, 2024 and December 31, 2023, 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, 2024 December 31, 2023 FTRs Not a Cash Flow Hedge Derivative assets, current $ 2,817 $ 1,388 Interest rate hedges Cash Flow Hedge Derivative assets, current $ — $ 14,294

Debt

Debt	3 Months Ended
	Mar. 31, 2024
Debt Disclosure [Abstract]
Indebtedness	DEBT Long-Term Debt The following table presents our long-term debt: September 30, December 31, Series Due 2024 2023 (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 5.70% April 2054 650,000 — Unamortized discount – net (8,150) (6,449) Deferred financing costs (25,770) (19,058) Total AES Indiana first mortgage bonds 2,769,880 2,128,293 Total long-term debt – AES Indiana 2,769,880 2,128,293 Long-term debt – IPALCO: 3.70% Senior Secured Notes September 2024 — 405,000 4.25% Senior Secured Notes May 2030 475,000 475,000 5.75% Senior Secured Notes April 2034 400,000 — Unamortized discount – net (1,353) (319) Deferred financing costs (8,490) (4,554) Total long-term debt – IPALCO 865,157 875,127 Total consolidated IPALCO long-term debt 3,635,037 3,003,420 Less: current portion of long-term debt 80,000 445,000 Net consolidated IPALCO long-term debt $ 3,555,037 $ 2,558,420 (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, 2024 and December 31, 2023, AES Indiana had $50.0 million and $155.0 million in outstanding borrowings on the committed Credit Agreement, respectively. Significant Transactions AES Indiana First Mortgage Bonds and AES Indiana Term Loans In August 2024, AES Indiana entered into an unsecured $400 million 364-day term loan agreement ("$400 million Term Loan Agreement"), which can be drawn in two tranches. AES Indiana drew $300 million at closing and drew the remaining $100 million in October 2024, with the proceeds being used for general corporate purposes. This agreement matures on August 13, 2025, and bears interest at variable rates as described in the $400 million Term Loan Agreement. The $400 million Term Loan Agreement contains customary representations, warranties and covenants, including a leverage covenant consistent with the leverage covenant contained in AES Indiana's Credit Agreement. AES Indiana has classified the $400 million Term Loan Agreement, including the $300 million outstanding as of September 30, 2024, as short-term indebtedness as it matures August 2025. Management plans to repay the $400 million Term Loan Agreement through a combination of funds from debt financings and parent equity capital contributions. In March 2024, AES Indiana issued $650 million aggregate principal amount of first mortgage bonds, 5.70% Series, due April 2054, pursuant to Rule 144A and Regulation S under the Securities Act. The net proceeds from this offering of approximately $640.5 million, after deducting the initial purchasers’ discounts and fees and expenses for the offering, were used to repay the $300 million Term Loan Agreement, outstanding borrowings on the Credit Agreement and for general corporate purposes. IPALCO’s Senior Secured Notes In March 2024, IPALCO completed the sale of the 2034 IPALCO Notes pursuant to Rule 144A and Regulation S under the Securities Act of 1933, as amended. The net proceeds from this offering of $394.0 million, together with cash on hand, were used to redeem the 2024 IPALCO Notes on April 13, 2024, and to pay certain related fees and expenses. Pursuant to a registration rights agreement dated March 14, 2024, IPALCO agreed to register the 2034 IPALCO Notes under the Securities Act by filing an exchange offer registration statement or, under specified circumstances, a shelf registration statement with the SEC. IPALCO filed a registration statement on Form S-4 with respect to the 2034 IPALCO Notes with the SEC on May 28, 2024 in respect of its obligations under such registration rights agreement, and this registration statement was declared effective on June 6, 2024. The exchange offer closed on July 12, 2024. Other In February 2024, AES Indiana received a $92 million short-term loan from AES. This loan was fully repaid in March 2024. AES Indiana’s mortgage and deed of trust secures first mortgage bonds issued by AES Indiana. Pursuant to the terms of the mortgage and deed of trust, substantially all property owned by AES Indiana is subject to a direct first mortgage lien. In addition, IPALCO’s outstanding debt obligations are secured by its pledge of all of the outstanding common stock of AES Indiana.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2024
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 as follows: Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Effective tax rate 13.3 % 9.7 % 21.7 % 12.2 % The year-to-date rate is different from the combined federal and state statutory rate of 24.9% primarily due to the impact of taxes on noncontrolling interest in subsidiaries and the net tax expense related to the amortization of allowance for equity funds used during construction, which is partially offset by the flowthrough of the net tax benefit related to the reversal of excess deferred taxes of AES Indiana. IPALCO’s income tax expense for the nine months ended September 30, 2024, was calculated using the estimated annual effective income tax rate for 2024 of 17.3% on ordinary income. Management estimates the annual effective tax rate based on its forecast of annual pre-tax income or loss. AES files federal and state income tax returns which consolidate IPALCO and its subsidiaries. Under a tax sharing agreement with AES, IPALCO is responsible for the income taxes associated with its own taxable income and records the provision for income taxes using a separate return method.

Benefit Plans

Benefit Plans	9 Months Ended
	Sep. 30, 2024
Retirement Benefits [Abstract]
Benefit Plans	BENEFIT PLANS The following table presents the net periodic benefit cost of the Pension Plans combined: Three Months Ended Nine Months Ended September 30, September 30, 2024 2023 2024 2023 (In Thousands) Components of net periodic benefit cost: Service cost $ 1,253 $ 1,297 $ 3,759 $ 3,892 Interest cost 6,739 7,455 20,217 22,365 Expected return on plan assets (7,443) (8,277) (22,329) (24,830) Amortization of prior service cost 475 543 1,425 1,629 Amortization of actuarial loss 1,207 1,536 3,621 4,608 Net periodic benefit cost $ 2,231 $ 2,554 $ 6,693 $ 7,664 The components of net periodic benefit cost 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 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, 2024
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. 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. Accruals for legal loss contingencies were not material as of September 30, 2024 and December 31, 2023, respectively. 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. Accruals for environmental contingencies were not material as of September 30, 2024 and December 31, 2023, respectively.

Business Segment Information (N

Business Segment Information (Notes)	9 Months Ended
	Sep. 30, 2024
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. The “Other” nonutility category primarily includes the 2024 IPALCO Notes, 2030 IPALCO Notes, 2034 IPALCO Notes and related interest expense, balances associated with IPALCO’s interest rate hedges, cash and other immaterial balances. See Note 4 " Derivatives Instruments and Hedging Activities " and Note 6 "Debt" for further information on the interest rate swaps related to the 2024 IPALCO Notes. The accounting policies of the identified segment are consistent with those policies and procedures described in the summary of significant accounting policies. See Note 1, "Overview and Summary of Significant Accounting Policies" to IPALCO’s 2023 Form 10-K for further information. The following table provides information about IPALCO’s business segments (in thousands): Three Months Ended Three Months Ended September 30, 2024 September 30, 2023 Utility Other Total Utility Other Total Revenue $ 449,171 $ — $ 449,171 $ 402,887 $ — $ 402,887 Depreciation and amortization $ 85,493 $ — $ 85,493 $ 72,021 $ — $ 72,021 Interest expense $ 33,745 $ 10,453 $ 44,198 $ 23,502 $ 10,969 $ 34,471 Income/(loss) before income tax $ 73,109 $ (10,727) $ 62,382 $ 49,887 $ (10,654) $ 39,233 Nine Months Ended Nine Months Ended September 30, 2024 September 30, 2023 Utility Other Total Utility Other Total Revenue $ 1,254,566 $ — $ 1,254,566 $ 1,290,580 $ — $ 1,290,580 Depreciation and amortization $ 248,846 $ — $ 248,846 $ 212,292 $ — $ 212,292 Interest expense $ 99,007 $ 32,674 $ 131,681 $ 71,604 $ 32,906 $ 104,510 Income/(loss) before income tax $ 146,058 $ (31,500) $ 114,558 $ 104,005 $ (32,790) $ 71,215 As of September 30, 2024 As of December 31, 2023 Utility Other Total Utility Other Total Total assets $ 6,998,420 $ 34,523 $ 7,032,943 $ 6,129,581 $ 51,942 $ 6,181,523

Revenue (Notes)

Revenue (Notes)	9 Months Ended
	Sep. 30, 2024
Revenue from External Customer [Line Items]
Revenue from Contract with Customer [Text Block]	REVENUE Revenue is primarily earned from retail and wholesale electricity sales and electricity transmission and distribution delivery services. Revenue is 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. Revenue is recorded net of any taxes assessed on and collected from customers, which are remitted to the governmental authorities. Please see Note 13, “Revenue” to IPALCO’s 2023 Form 10-K for further discussion of our retail, wholesale and miscellaneous revenue. AES Indiana’s revenue from contracts with customers was as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Revenue from contracts with customers $ 441,973 $ 393,940 $ 1,233,907 $ 1,265,010 The following table presents our revenue from contracts with customers and other revenue (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Retail Revenue Retail revenue from contracts with customers: Residential $ 183,757 $ 162,531 $ 523,625 $ 515,920 Small commercial and industrial 66,786 58,777 190,531 186,313 Large commercial and industrial 170,657 156,995 464,185 489,190 Public lighting 3,009 2,369 8,032 7,453 Other (1) 3,585 4,253 8,576 13,286 Total retail revenue from contracts with customers 427,794 384,925 1,194,949 1,212,162 Alternative revenue programs 6,482 7,877 18,457 23,153 Wholesale Revenue Wholesale revenue from contracts with customers: 10,183 7,794 29,503 41,489 Miscellaneous Revenue Capacity revenue 97 — 97 8,155 Transmission and other revenue 3,898 1,221 9,357 3,204 Total miscellaneous revenue from contracts with customers 3,995 1,221 9,454 11,359 Other miscellaneous revenue (2) 717 1,070 2,203 2,417 Total Revenue $ 449,171 $ 402,887 $ 1,254,566 $ 1,290,580 (1) Other retail revenue from contracts with customers includes miscellaneous charges to customers, including reconnection and late fee charges. (2) Other miscellaneous revenue includes lease and other miscellaneous revenue not accounted for under ASC 606. The balances of receivables from contracts with customers were as follows (in thousands): September 30, 2024 December 31, 2023 Revenue from contracts with customers $ 300,681 $ 218,822 Payment terms for all receivables from contracts with customers typically do not extend beyond 30 days, unless a customer qualifies for payment extension. AES Indiana temporarily paused customer disconnections and certain collection efforts and write-off processes to support the implementation of AES Indiana's customer billing system upgrade in the fourth quarter of 2023. In the third quarter of 2024, AES Indiana began offering extended payment plans for customers who may need assistance in paying their past due bills. See Note 1, “ Overview and Summary of Significant Accounting Policies – Accounts Receivable and Allowance for Credit Losses ” for further information on AES Indiana’s receivable balances.

Leases (Notes)

Leases (Notes)	9 Months Ended
	Sep. 30, 2024
Leases [Abstract]
Lessor, Leases [Policy Text Block]	LEASES LESSEE The Company is the lessee under financing leases primarily for land. Right-of-use assets are long-term by nature. The following table summarizes the amounts recognized on the Condensed Consolidated Balance Sheets related to lease asset and liability balances as of the periods indicated (in thousands): Consolidated Balance Sheet Classification September 30, 2024 December 31, 2023 Assets Right-of-use assets — finance leases Other non-current assets $ 86,934 $ 16,357 Liabilities Finance lease liabilities (current) Short-term debt and current portion of long-term debt $ 218 $ — Finance lease liabilities (noncurrent) Long-term debt 86,640 17,769 Total finance lease liabilities $ 86,858 $ 17,769 The following table summarizes supplemental balance sheet information related to leases as of the periods indicated: Lease Term and Discount Rate September 30, 2024 December 31, 2023 Weighted-average remaining lease term — finance leases 36 years 35 years Weighted-average discount rate — finance leases 5.67 % 5.30 % Operating cash outflows from finance leases were $3.4 million and $0.0 million for the nine months ended September 30, 2024 and 2023, respectively. The following table shows the future lease payments under finance leases together with the present value of the net lease payments as of September 30, 2024 for 2024 through 2028 and thereafter (in thousands): Finance Leases 2024 $ 446 2025 4,446 2026 4,535 2027 4,625 2028 4,718 Thereafter 209,278 Total $ 228,048 Less: Imputed interest (141,190) Present value of lease payments $ 86,858 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 revenue on a straight-line basis over the lease term whereas contingent rentals are recognized when earned. The following table presents lease revenue 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, 2024 2023 2024 2023 Total lease revenue $ 358 $ 455 $ 1,156 $ 1,275 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, 2024 December 31, 2023 Gross assets $ 4,387 $ 4,341 Less: Accumulated depreciation (1,381) (1,222) Net assets $ 3,006 $ 3,119 The option to extend or terminate a lease is based on customary early termination provisions in the contract. The following table shows the future lease receipts as of September 30, 2024 for the remainder of 2024 through 2028 and thereafter (in thousands): Operating Leases 2024 $ 136 2025 553 2026 554 2027 554 2028 354 Thereafter 891 Total $ 3,042

Equity

Equity	9 Months Ended
	Sep. 30, 2024
Equity [Abstract]
Equity	8. EQUITY Paid In Capital On May 24, 2024, AES U.S. Investments received equity capital contributions totaling $123.5 million, of which $105 million was contributed by AES U.S. Holdings, LLC and $18.5 million was contributed by CDPQ. IPALCO then received equity capital contributions totaling $150.0 million, of which $123.5 million was contributed by AES U.S. Investments and $26.5 million was contributed by CDPQ. IPALCO then made the same investments in AES Indiana. The proceeds from the equity capital contributions are intended primarily for funding needs related to AES Indiana’s capital expenditure program. The equity capital contributions were made on a proportional share basis and, therefore, did not change CDPQ’s or AES’ ownership interests in IPALCO or AES U.S. Investments. Equity Transactions with Noncontrolling Interests The Hardy Hills Solar Project has been financed with a tax equity structure, in which a tax equity investor receives a portion of the economic attributes of the facility, including tax attributes, that vary over the life of the project. On December 1, 2023, AES Indiana, through a wholly-owned subsidiary (the "Class B Member"), and a third-party investor (the "Class A Member"), entered into an Equity Capital Contribution Agreement, pursuant to which each member made certain capital contributions to Hardy Hills JV. Through September 30, 2024, the Class A member has made total contributions of $126.2 million under the agreement, including $46.9 million contributed in May 2024 upon final completion of the project. A noncontrolling interest was recorded by AES Indiana at the amount of cash contributed by the Class A Member.

Overview and Summary Of Signi_2

Overview and Summary Of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2024
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, 2024 and December 31, 2023: September 30, December 31, 2024 2023 (In Thousands) Accounts receivable, net Customer receivables $ 196,714 $ 125,715 Unbilled revenue 98,194 91,463 Amounts due from related parties 7,005 5,178 Other 37,875 13,848 Allowance for credit losses (17,087) (2,283) Total accounts receivable, net $ 322,701 $ 233,921
Schedule of Asset Retirement Obligations [Table Text Block]	AES Indiana’s ARO liabilities relate primarily to environmental issues involving asbestos-containing materials, ash ponds, landfills and miscellaneous contaminants associated with its generating plants, transmission system and distribution system. The following is a roll forward of the ARO legal liabilities for the nine months ended September 30, 2024 and 2023, respectively: Nine Months Ended September 30, 2024 2023 (In Thousands) Balance as of January 1 $ 249,930 $ 218,729 Liabilities incurred 8,864 656 Liabilities settled (3,202) (9,946) Revisions to cash flow and timing estimates 81,714 — Accretion expense 9,244 7,352 Balance as of September 30 $ 346,550 $ 216,791 Less: ARO liabilities, current 26,384 — ARO liabilities, non-current $ 320,166 $ 216,791
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. Furthermore, VIEs in which the Company has an ownership interest and is the primary beneficiary, thus controlling the VIE, have been consolidated. 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 revenue 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 revenue; 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.
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 within 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, 2024 2023 (In Thousands) Cash, cash equivalents and restricted cash Cash and cash equivalents $ 48,308 $ 28,579 Restricted cash (included in Prepayments and other current assets) 5 5 Total cash, cash equivalents and restricted cash $ 48,313 $ 28,584
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 periods indicated: Nine Months Ended September 30, $ in Thousands 2024 2023 Allowance for credit losses: Beginning balance $ 2,283 $ 1,117 Current period provision 14,018 5,536 Net write-offs charged against allowance (577) (6,940) Recoveries collected 1,363 1,351 Ending Balance $ 17,087 $ 1,064

Leases, Codification Topic 842

Leases, Codification Topic 842 (Policies)	9 Months Ended
	Sep. 30, 2024
Leases [Abstract]
Lessor, Leases [Policy Text Block]	LEASES LESSEE The Company is the lessee under financing leases primarily for land. Right-of-use assets are long-term by nature. The following table summarizes the amounts recognized on the Condensed Consolidated Balance Sheets related to lease asset and liability balances as of the periods indicated (in thousands): Consolidated Balance Sheet Classification September 30, 2024 December 31, 2023 Assets Right-of-use assets — finance leases Other non-current assets $ 86,934 $ 16,357 Liabilities Finance lease liabilities (current) Short-term debt and current portion of long-term debt $ 218 $ — Finance lease liabilities (noncurrent) Long-term debt 86,640 17,769 Total finance lease liabilities $ 86,858 $ 17,769 The following table summarizes supplemental balance sheet information related to leases as of the periods indicated: Lease Term and Discount Rate September 30, 2024 December 31, 2023 Weighted-average remaining lease term — finance leases 36 years 35 years Weighted-average discount rate — finance leases 5.67 % 5.30 % Operating cash outflows from finance leases were $3.4 million and $0.0 million for the nine months ended September 30, 2024 and 2023, respectively. The following table shows the future lease payments under finance leases together with the present value of the net lease payments as of September 30, 2024 for 2024 through 2028 and thereafter (in thousands): Finance Leases 2024 $ 446 2025 4,446 2026 4,535 2027 4,625 2028 4,718 Thereafter 209,278 Total $ 228,048 Less: Imputed interest (141,190) Present value of lease payments $ 86,858 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 revenue on a straight-line basis over the lease term whereas contingent rentals are recognized when earned. The following table presents lease revenue 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, 2024 2023 2024 2023 Total lease revenue $ 358 $ 455 $ 1,156 $ 1,275 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, 2024 December 31, 2023 Gross assets $ 4,387 $ 4,341 Less: Accumulated depreciation (1,381) (1,222) Net assets $ 3,006 $ 3,119 The option to extend or terminate a lease is based on customary early termination provisions in the contract. The following table shows the future lease receipts as of September 30, 2024 for the remainder of 2024 through 2028 and thereafter (in thousands): Operating Leases 2024 $ 136 2025 553 2026 554 2027 554 2028 354 Thereafter 891 Total $ 3,042
Finance Lease Term	The following table summarizes supplemental balance sheet information related to leases as of the periods indicated: Lease Term and Discount Rate September 30, 2024 December 31, 2023 Weighted-average remaining lease term — finance leases 36 years 35 years Weighted-average discount rate — finance leases 5.67 % 5.30 %

Overview and Summary Of Signi_3

Overview and Summary Of Significant Accounting Policies (Tables)	9 Months Ended
	Sep. 30, 2024
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, 2024 and December 31, 2023: September 30, December 31, 2024 2023 (In Thousands) Accounts receivable, net Customer receivables $ 196,714 $ 125,715 Unbilled revenue 98,194 91,463 Amounts due from related parties 7,005 5,178 Other 37,875 13,848 Allowance for credit losses (17,087) (2,283) Total accounts receivable, net $ 322,701 $ 233,921
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 periods indicated: Nine Months Ended September 30, $ in Thousands 2024 2023 Allowance for credit losses: Beginning balance $ 2,283 $ 1,117 Current period provision 14,018 5,536 Net write-offs charged against allowance (577) (6,940) Recoveries collected 1,363 1,351 Ending Balance $ 17,087 $ 1,064
Schedule of Inventory, Current [Table Text Block]	The following table summarizes our inventory balances at September 30, 2024 and December 31, 2023: September 30, December 31, 2024 2023 (In Thousands) Inventories Fuel $ 55,977 $ 77,198 Materials and supplies, net 69,113 66,392 Total inventories $ 125,090 $ 143,590
Schedule of Cash and Cash Equivalents [Table Text Block]	The following table provides a summary of cash, cash equivalents and restricted cash amounts reported within 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, 2024 2023 (In Thousands) Cash, cash equivalents and restricted cash Cash and cash equivalents $ 48,308 $ 28,579 Restricted cash (included in Prepayments and other current assets) 5 5 Total cash, cash equivalents and restricted cash $ 48,313 $ 28,584
Reclassification out of Accumulated Other Comprehensive Income	The amounts reclassified out of AOCI by component during the three and nine months ended September 30, 2024 and 2023 are as follows (in Thousands): Details about AOCI components Affected line item in the Condensed Consolidated Statements of Operations Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Net (gains) / losses on cash flow hedges (Note 4): Interest expense $ (578) $ 1,807 $ (144) $ 5,421 Income tax effect 144 (449) 36 (1,348) Total reclassifications for the period, net of income taxes $ (434) $ 1,358 $ (108) $ 4,073
Schedule of Asset Retirement Obligations [Table Text Block]	AES Indiana’s ARO liabilities relate primarily to environmental issues involving asbestos-containing materials, ash ponds, landfills and miscellaneous contaminants associated with its generating plants, transmission system and distribution system. The following is a roll forward of the ARO legal liabilities for the nine months ended September 30, 2024 and 2023, respectively: Nine Months Ended September 30, 2024 2023 (In Thousands) Balance as of January 1 $ 249,930 $ 218,729 Liabilities incurred 8,864 656 Liabilities settled (3,202) (9,946) Revisions to cash flow and timing estimates 81,714 — Accretion expense 9,244 7,352 Balance as of September 30 $ 346,550 $ 216,791 Less: ARO liabilities, current 26,384 — ARO liabilities, non-current $ 320,166 $ 216,791
Allowance for Funds Used During Construction	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. AFUDC equity and AFUDC debt were as follows for the periods indicated: $ in thousands Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 AFUDC equity $ 1,485 $ 3,134 $ 3,585 $ 7,089 AFUDC debt $ 7,436 $ 3,841 $ 19,123 $ 9,505
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense	The following table presents information related to the Company’s intangible assets, including the gross amount capitalized and related amortization: September 30, December 31, $ in thousands 2024 2023 Capitalized software $ 279,878 $ 261,872 Project development intangible assets 83,430 84,097 Other 797 797 Less: Accumulated amortization 129,969 111,110 Intangible assets - net $ 234,136 $ 235,656 Three Months Ended September 30, 2024 2023 Amortization expense $ 6,729 $ 3,654 Nine Months Ended September 30, 2024 2023 Amortization expense $ 20,458 $ 9,665

Fair Value (Tables)

Fair Value (Tables)	9 Months Ended
	Sep. 30, 2024
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, 2024 and December 31, 2023 measured on a recurring basis and the respective category within the fair value hierarchy for IPALCO was determined as follows: Fair Value as of September 30, 2024 Fair Value as of December 31, 2023 Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total (In Thousands) Financial assets: VEBA investments: Money market funds $ 83 $ — $ — $ 83 $ 127 $ — $ — $ 127 Mutual funds 3,855 — — 3,855 3,425 — — 3,425 Total VEBA investments 3,938 — — 3,938 3,552 — — 3,552 FTRs — — 2,817 2,817 — — 1,388 1,388 Interest rate hedges — — — — — 14,294 — 14,294 Total financial assets measured at fair value $ 3,938 $ — $ 2,817 $ 6,755 $ 3,552 $ 14,294 $ 1,388 $ 19,234
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, 2024 December 31, 2023 Face Value Fair Value Face Value Fair Value (In Thousands) Fixed-rate $ 3,678,800 $ 3,644,584 $ 3,033,800 $ 2,860,467 Variable-rate 350,000 350,000 455,000 455,000 Total indebtedness $ 4,028,800 $ 3,994,584 $ 3,488,800 $ 3,315,467
Fair Value, Assets Measured on Recurring Basis	The following table presents a roll forward of financial instruments, measured at fair value on a recurring basis, classified as Level 3 in the fair value hierarchy (note, amounts in this table indicate carrying values, which approximate fair values): Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 (In Thousands) Beginning Balance $ 3,968 $ 3,294 $ 1,388 $ 7,545 Issuances — — 3,811 3,624 Settlements (1,151) (943) (2,382) (8,818) Ending Balance $ 2,817 $ 2,351 $ 2,817 $ 2,351

Derivative Instruments and He_2

Derivative Instruments and Hedging Activities (Tables)	9 Months Ended
	Sep. 30, 2024
Derivative Instruments and Hedging Activities [Abstract]
Schedule of Derivative Instruments, Effect on Other Comprehensive Income (Loss) [Table Text Block]	The following table provides information on gains or losses recognized in AOCI 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) 2024 2023 2024 2023 Beginning accumulated derivative gain $ 36,246 $ 24,827 $ 29,294 $ 22,269 Net gains associated with current period hedging transactions — 7,482 6,626 7,325 Net (gains) / losses reclassified to interest expense, net of tax (434) 1,358 (108) 4,073 Ending accumulated derivative gain in AOCI $ 35,812 $ 33,667 $ 35,812 $ 33,667 Net gain expected to be reclassified to earnings in the next twelve months 1,737
Schedule of Derivative Instruments [Table Text Block]	At September 30, 2024 , AES Indiana’s outstanding derivative instruments were as follows: Commodity Accounting Treatment Unit Notional Sales Net Notional FTRs Not Designated MWh 6,987 — 6,987
Schedule of Fair Value Hedging Instruments, Statements of Financial Performance and Financial Position, Location	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, 2024 December 31, 2023 FTRs Not a Cash Flow Hedge Derivative assets, current $ 2,817 $ 1,388 Interest rate hedges Cash Flow Hedge Derivative assets, current $ — $ 14,294

Debt (Tables)

Debt (Tables)	9 Months Ended
	Sep. 30, 2024
Debt Disclosure [Abstract]
Schedule Long-Term Indebtedness	The following table presents our long-term debt: September 30, December 31, Series Due 2024 2023 (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 5.70% April 2054 650,000 — Unamortized discount – net (8,150) (6,449) Deferred financing costs (25,770) (19,058) Total AES Indiana first mortgage bonds 2,769,880 2,128,293 Total long-term debt – AES Indiana 2,769,880 2,128,293 Long-term debt – IPALCO: 3.70% Senior Secured Notes September 2024 — 405,000 4.25% Senior Secured Notes May 2030 475,000 475,000 5.75% Senior Secured Notes April 2034 400,000 — Unamortized discount – net (1,353) (319) Deferred financing costs (8,490) (4,554) Total long-term debt – IPALCO 865,157 875,127 Total consolidated IPALCO long-term debt 3,635,037 3,003,420 Less: current portion of long-term debt 80,000 445,000 Net consolidated IPALCO long-term debt $ 3,555,037 $ 2,558,420 (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.

Income Taxes (Tables)

Income Taxes (Tables)	9 Months Ended
	Sep. 30, 2024
Income Tax Disclosure [Abstract]
Schedule of Effective Income Tax Rate Reconciliation	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 as follows: Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Effective tax rate 13.3 % 9.7 % 21.7 % 12.2 %

Benefit Plans (Tables)

Benefit Plans (Tables)	9 Months Ended
	Sep. 30, 2024
Retirement Benefits [Abstract]
Schedule Of Net Periodic Benefit Costs	The following table presents the net periodic benefit cost of the Pension Plans combined: Three Months Ended Nine Months Ended September 30, September 30, 2024 2023 2024 2023 (In Thousands) Components of net periodic benefit cost: Service cost $ 1,253 $ 1,297 $ 3,759 $ 3,892 Interest cost 6,739 7,455 20,217 22,365 Expected return on plan assets (7,443) (8,277) (22,329) (24,830) Amortization of prior service cost 475 543 1,425 1,629 Amortization of actuarial loss 1,207 1,536 3,621 4,608 Net periodic benefit cost $ 2,231 $ 2,554 $ 6,693 $ 7,664

Business Segment Information (T

Business Segment Information (Tables)	9 Months Ended
	Sep. 30, 2024
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, 2024 September 30, 2023 Utility Other Total Utility Other Total Revenue $ 449,171 $ — $ 449,171 $ 402,887 $ — $ 402,887 Depreciation and amortization $ 85,493 $ — $ 85,493 $ 72,021 $ — $ 72,021 Interest expense $ 33,745 $ 10,453 $ 44,198 $ 23,502 $ 10,969 $ 34,471 Income/(loss) before income tax $ 73,109 $ (10,727) $ 62,382 $ 49,887 $ (10,654) $ 39,233 Nine Months Ended Nine Months Ended September 30, 2024 September 30, 2023 Utility Other Total Utility Other Total Revenue $ 1,254,566 $ — $ 1,254,566 $ 1,290,580 $ — $ 1,290,580 Depreciation and amortization $ 248,846 $ — $ 248,846 $ 212,292 $ — $ 212,292 Interest expense $ 99,007 $ 32,674 $ 131,681 $ 71,604 $ 32,906 $ 104,510 Income/(loss) before income tax $ 146,058 $ (31,500) $ 114,558 $ 104,005 $ (32,790) $ 71,215 As of September 30, 2024 As of December 31, 2023 Utility Other Total Utility Other Total Total assets $ 6,998,420 $ 34,523 $ 7,032,943 $ 6,129,581 $ 51,942 $ 6,181,523

Revenue (Tables)

Revenue (Tables)	9 Months Ended
	Sep. 30, 2024
Disaggregation of Revenue [Line Items]
Disaggregation of Revenue [Table Text Block]	The following table presents our revenue from contracts with customers and other revenue (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Retail Revenue Retail revenue from contracts with customers: Residential $ 183,757 $ 162,531 $ 523,625 $ 515,920 Small commercial and industrial 66,786 58,777 190,531 186,313 Large commercial and industrial 170,657 156,995 464,185 489,190 Public lighting 3,009 2,369 8,032 7,453 Other (1) 3,585 4,253 8,576 13,286 Total retail revenue from contracts with customers 427,794 384,925 1,194,949 1,212,162 Alternative revenue programs 6,482 7,877 18,457 23,153 Wholesale Revenue Wholesale revenue from contracts with customers: 10,183 7,794 29,503 41,489 Miscellaneous Revenue Capacity revenue 97 — 97 8,155 Transmission and other revenue 3,898 1,221 9,357 3,204 Total miscellaneous revenue from contracts with customers 3,995 1,221 9,454 11,359 Other miscellaneous revenue (2) 717 1,070 2,203 2,417 Total Revenue $ 449,171 $ 402,887 $ 1,254,566 $ 1,290,580
Revenue from Contracts with Customers	AES Indiana’s revenue from contracts with customers was as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Revenue from contracts with customers $ 441,973 $ 393,940 $ 1,233,907 $ 1,265,010
Receivables from Contracts with Customers	The balances of receivables from contracts with customers were as follows (in thousands): September 30, 2024 December 31, 2023 Revenue from contracts with customers $ 300,681 $ 218,822

Leases (Tables)

Leases (Tables)	9 Months Ended
	Sep. 30, 2024
Leases [Abstract]
Operating Lease, Lease Income [Table Text Block]	The following table presents lease revenue 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, 2024 2023 2024 2023 Total lease revenue $ 358 $ 455 $ 1,156 $ 1,275
Lease Balance Sheet Components	The Company is the lessee under financing leases primarily for land. Right-of-use assets are long-term by nature. The following table summarizes the amounts recognized on the Condensed Consolidated Balance Sheets related to lease asset and liability balances as of the periods indicated (in thousands): Consolidated Balance Sheet Classification September 30, 2024 December 31, 2023 Assets Right-of-use assets — finance leases Other non-current assets $ 86,934 $ 16,357 Liabilities Finance lease liabilities (current) Short-term debt and current portion of long-term debt $ 218 $ — Finance lease liabilities (noncurrent) Long-term debt 86,640 17,769 Total finance lease liabilities $ 86,858 $ 17,769
Schedule of Future Minimum Rental Payments for Operating Leases	The following table shows the future lease payments under finance leases together with the present value of the net lease payments as of September 30, 2024 for 2024 through 2028 and thereafter (in thousands): Finance Leases 2024 $ 446 2025 4,446 2026 4,535 2027 4,625 2028 4,718 Thereafter 209,278 Total $ 228,048 Less: Imputed interest (141,190) Present value of lease payments $ 86,858
Lessor, Operating Lease, Payment to be Received, Maturity	The following table shows the future lease receipts as of September 30, 2024 for the remainder of 2024 through 2028 and thereafter (in thousands): Operating Leases 2024 $ 136 2025 553 2026 554 2027 554 2028 354 Thereafter 891 Total $ 3,042
Property, Plant, and Equipment, Lessor Asset under Operating Lease	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, 2024 December 31, 2023 Gross assets $ 4,387 $ 4,341 Less: Accumulated depreciation (1,381) (1,222) Net assets $ 3,006 $ 3,119

Overview and Summary of Signi_4

Overview and Summary of Significant Accounting Policies (Details) $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2024 USD ($) generating_station MW	Jun. 30, 2024 USD ($)	Mar. 31, 2024 USD ($)	Sep. 30, 2023 USD ($)	Jun. 30, 2023 USD ($)	Mar. 31, 2023 USD ($)	Sep. 30, 2024 USD ($) generating_station MW	Sep. 30, 2023 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	May 31, 2021
Debt Instrument [Line Items]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	$ 1,310,361			$ 1,097,595	$ 1,053,303		$ 1,310,361	$ 1,097,595	$ 1,129,722
Asset Retirement Obligation, Revision of Estimate							81,714	0
Asset Retirement Obligation, Accretion Expense							9,244	7,352
Accumulated Other Comprehensive Income (Loss), Net of Tax	35,812						35,812		29,294	$ 22,269
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Net of Tax	0			7,482			6,626	7,325
Inventories	55,977						55,977		77,198
Cash and cash equivalents	$ 48,308			28,579			$ 48,308	28,579	28,579
Number of customers	530,000						530,000
Number of generating stations | generating_station	4						4
Restricted Cash and Cash Equivalents	$ 5			5			$ 5	5
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	48,313			21,542			48,313	21,542	28,584	201,553
Regulatory assets, current	69,113						69,113		66,392
Inventory, Net	125,090						125,090		143,590
Other Comprehensive Income (Loss), Net of Tax	(434)	$ (434)	$ 7,386	8,840	$ 9,732	$ (7,174)	6,518	11,398
Accounts Receivable, Allowance for Credit Loss, Current	17,087			1,064			17,087	1,064	2,283	1,117
Accounts Receivable, Credit Loss Expense (Reversal)							14,018	5,536
Accounts Receivable, Allowance for Credit Loss, Writeoff							(577)	(6,940)
Accounts Receivable, Allowance for Credit Loss, Recovery							1,363	1,351
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Accumulated Other Comprehensive Income (Loss), Net of Tax	35,812						35,812		29,294	22,269
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax				7,482				7,325
Income Tax Expense (Benefit)	8,314			3,802			24,833	8,663
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	54,940	41,794	17,162			19,115
Capitalized Computer Software, Amortization	6,729			3,654			20,458	9,665
Income Tax Expense (Benefit)	8,314			3,802			24,833	8,663
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	54,940	$ 41,794	$ 17,162			$ 19,115
Reclassification from AOCI, Current Period, Net of Tax, Attributable to Parent	$ (434)			1,358			$ (108)	4,073
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	$ 346,550			216,791			$ 346,550	216,791	249,930	$ 218,729
Asset Retirement Obligation, Liabilities Incurred							8,864	656
Asset Retirement Obligation, Liabilities Settled							(3,202)	(9,946)
Business Combination, Step Acquisition, Equity Interest in Acquiree, Remeasurement Gain (Loss), Net	115			0			(1,422)	0
Allowance for Funds Used During Construction, Capitalized Interest	7,436			3,841			19,123	9,505
Allowance for Funds Used During Construction, Equity Portion	1,485			3,134			3,585	7,089
Capitalized Computer Software, Amortization	6,729			3,654			20,458	9,665
Capitalized Computer Software, Gross	279,878						279,878		261,872
Project development intangible assets	83,430						83,430		84,097
Emissions Allowance	797						797		797
Capitalized Computer Software, Accumulated Amortization	129,969						129,969		111,110
Intangible Assets, Net (Including Goodwill)	$ 234,136						$ 234,136		$ 235,656
Petersburg Energy Center Project MW							250
Petersburg Energy Storage Project MW							45
Petersburg Energy Storage Project MwH							180
Hardy Hills Solar Project MW							195
Hoosier Wind Project MW							106
Pike Co BESS Project MW							200
Pike Co BESS Project MwH							800
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
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	$ 35,812			33,667			$ 35,812	33,667
Reclassification out of Accumulated Other Comprehensive Income [Member] | Accumulated Net Gain (Loss) from Cash Flow Hedges Attributable to Parent [Member]
Debt Instrument [Line Items]
Interest and Debt Expense	578			(1,807)			144	(5,421)
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Interest and Debt Expense	578			(1,807)			144	(5,421)
Income Tax Expense (Benefit)	(144)			449			(36)	1,348
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	(434)			1,358			(108)	4,073
Income Tax Expense (Benefit)	(144)			449			(36)	1,348
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	$ (434)			$ 1,358			$ (108)	$ 4,073

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, 2024	Sep. 30, 2023	Dec. 31, 2023	Dec. 31, 2022
Asset Retirement Obligation Disclosure [Abstract]
Asset Retirement Obligation	$ 346,550	$ 216,791	$ 249,930	$ 218,729
Asset Retirement Obligation, Revision of Estimate	81,714	0
Asset Retirement Obligation, Liabilities Settled	3,202	9,946
Asset Retirement Obligation, Accretion Expense	$ 9,244	$ 7,352

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, 2024	Dec. 31, 2023	Sep. 30, 2023	Dec. 31, 2022
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents	$ 48,308	$ 28,579	$ 28,579
Restricted Cash and Cash Equivalents	5		5
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	$ 48,313	$ 28,584	$ 21,542	$ 201,553

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, 2024	Sep. 30, 2023	Dec. 31, 2023	Dec. 31, 2022
Accounts, Notes, Loans and Financing Receivable [Line Items]
Receivables from Customers	$ 196,714		$ 125,715
Unbilled Receivables, Current	98,194		91,463
Receivables from Stockholder	7,005		5,178
Other Receivables	37,875		13,848
Accounts Receivable, Allowance for Credit Loss	(17,087)		(2,283)
Accounts Receivable, after Allowance for Credit Loss, Current	322,701		233,921
Accounts Receivable, Allowance for Credit Loss, Current	17,087	$ 1,064	$ 2,283	$ 1,117
Accounts Receivable, Credit Loss Expense (Reversal)	14,018	5,536
Accounts Receivable, Allowance for Credit Loss, Writeoff	(577)	(6,940)
Accounts Receivable, Allowance for Credit Loss, Recovery	$ 1,363	$ 1,351

Regulatory Matters (Details)

Regulatory Matters (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2024 USD ($) MW	Dec. 31, 2023 USD ($)	May 31, 2021
Regulatory Matters [Line Items]
Approved increase to basic rates and charges	$ 71,000
Total current regulatory assets	126,470	$ 89,419
Total long-term regulatory assets	474,963	541,784
Total current regulatory liabilities	8,322	23,371
Total long-term regulatory liabilities	$ 443,691	$ 527,224
Preferred Resource Portfolio Coal-Fired Generation Retirement MW by 2023	630
Public Utilities, Approved Return on Equity, Percentage	9.90%
Public Utilities, Approved Debt Capital Structure, Percentage	4.90%
Hoosier Wind Project MW	106
Subsidiary, Ownership Percentage, Parent	100%
Payments to Acquire Businesses, Gross	$ 92,600
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets	48,800
Public Utilities, Rate Bases	3,500,000
Earnings from Tax Attributes	$ 21,400
Pike Co BESS Project MW	200
Pike Co BESS Project MwH	800
Expected added generation capability | MW	1,300
Crossvine Project | MW	85
Crossvine Project Storage Capacity | MW	85
Crossvine Project MwH | MW	340
Petersburg Unit 1 retired MW			230

Fair Value (Narrative) (Details

Fair Value (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Jun. 30, 2024	Dec. 31, 2023	Jun. 30, 2023	Dec. 31, 2022
Fair Value, Option, Quantitative Disclosures [Line Items]
Investments, Fair Value Disclosure	$ 3,938	$ 3,552	$ 3,938	$ 3,552
Asset Retirement Obligation, Revision of Estimate			81,714	0
Asset retirement obligations, non-current	320,166		320,166			$ 249,930
Unamortized deferred financing costs	35,300		35,300			24,800
Unamortized debt discount	9,500		9,500			6,800
Financial Transmission Rights Fair Value Disclosure	2,817	1,388	2,817	1,388
Assets, Fair Value Disclosure	6,755	19,234	6,755	19,234
Forward Power Contracts Fair Value Disclosure	0	14,294	0	14,294
Derivative Financial Instruments, Liabilities
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability Value	2,817	2,351	2,817	2,351	$ 3,968	$ 1,388	$ 3,294	$ 7,545
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Issuances	0	0	3,811	3,624
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Settlements	(1,151)	(943)	(2,382)	(8,818)
Money Market Funds [Member]
Fair Value, Option, Quantitative Disclosures [Line Items]
Investments, Fair Value Disclosure	83	127	83	127
Mutual Fund [Member]
Fair Value, Option, Quantitative Disclosures [Line Items]
Investments, Fair Value Disclosure	3,855	3,425	3,855	3,425
Fair Value, Inputs, Level 3 [Member]
Fair Value, Option, Quantitative Disclosures [Line Items]
Investments, Fair Value Disclosure	0	0	0	0
Financial Transmission Rights Fair Value Disclosure	2,817	1,388	2,817	1,388
Assets, Fair Value Disclosure	2,817	1,388	2,817	1,388
Forward Power Contracts Fair Value Disclosure	0	0	0	0
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
Fair Value, Inputs, Level 3 [Member] | Mutual Fund [Member]
Fair Value, Option, Quantitative Disclosures [Line Items]
Investments, Fair Value Disclosure	0	0	0	0
Fair Value, Inputs, Level 2 [Member]
Fair Value, Option, Quantitative Disclosures [Line Items]
Investments, Fair Value Disclosure	0	0	0	0
Financial Transmission Rights Fair Value Disclosure	0	0	0	0
Assets, Fair Value Disclosure	0	14,294	0	14,294
Forward Power Contracts Fair Value Disclosure	0	14,294	0	14,294
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
Fair Value, Inputs, Level 2 [Member] | Mutual Fund [Member]
Fair Value, Option, Quantitative Disclosures [Line Items]
Investments, Fair Value Disclosure	0	0	0	0
Fair Value, Inputs, Level 1 [Member]
Fair Value, Option, Quantitative Disclosures [Line Items]
Investments, Fair Value Disclosure	3,938	3,552	3,938	3,552
Financial Transmission Rights Fair Value Disclosure	0	0	0	0
Assets, Fair Value Disclosure	3,938	3,552	3,938	3,552
Forward Power Contracts Fair Value Disclosure	0	0	0	0
Fair Value, Inputs, Level 1 [Member] | Money Market Funds [Member]
Fair Value, Option, Quantitative Disclosures [Line Items]
Investments, Fair Value Disclosure	83	127	83	127
Fair Value, Inputs, Level 1 [Member] | Mutual Fund [Member]
Fair Value, Option, Quantitative Disclosures [Line Items]
Investments, Fair Value Disclosure	3,855	$ 3,425	3,855	$ 3,425
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, 2024	Sep. 30, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, Fair Value Disclosure	$ 3,938	$ 3,552
Financial Transmission Rights Fair Value Disclosure	2,817	1,388
Assets, Fair Value Disclosure	6,755	19,234
Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, Fair Value Disclosure	3,938	3,552
Financial Transmission Rights Fair Value Disclosure	0	0
Assets, Fair Value Disclosure	3,938	3,552
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	0	14,294
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	2,817	1,388
Assets, Fair Value Disclosure	2,817	1,388
Money Market Funds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, Fair Value Disclosure	83	127
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	83	127
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	3,855	3,425
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	3,855	3,425
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, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Debt Instrument, Unamortized Discount	$ 9,500	$ 6,800
Face Value	4,028,800	3,488,800
Fair Value	3,994,584	3,315,467
Fixed Rate [Member]
Debt Instrument [Line Items]
Face Value	3,678,800	3,033,800
Fair Value	3,644,584	2,860,467
Variable Rate [Member]
Debt Instrument [Line Items]
Face Value	350,000	455,000
Fair Value	$ 350,000	$ 455,000

Derivative Instruments and He_3

Derivative Instruments and Hedging Activities (Details) MWh in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2024 USD ($) MWh	Jun. 30, 2024 USD ($)	Mar. 31, 2024 USD ($)	Sep. 30, 2023 USD ($)	Jun. 30, 2023 USD ($)	Mar. 31, 2023 USD ($)	Sep. 30, 2024 USD ($) MWh	Sep. 30, 2023 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Other Comprehensive Income (Loss), Net of Tax	$ (434,000)	$ (434,000)	$ 7,386,000	$ 8,840,000	$ 9,732,000	$ (7,174,000)	$ 6,518,000	$ 11,398,000
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Net of Tax	0			7,482,000			6,626,000	7,325,000
Derivative, Nonmonetary Notional Amount, Purchase (Sales), Net	400,000,000						400,000,000
Interest Rate Cash Flow Hedge Gain (Loss) to be Reclassified During Next 12 Months, Net	1,737						1,737
Reclassification from AOCI, Current Period, Net of Tax, Attributable to Parent	(434,000)			1,358,000			(108,000)	4,073,000
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax				7,482,000				7,325,000
Regulatory assets	126,470,000						$ 126,470,000		$ 89,419,000
Proceeds from Hedge, Financing Activities	$ 23,100,000
AOCI, Cash Flow Hedge, Cumulative Gain (Loss), after Tax		$ 36,246,000			$ 24,827,000				29,294,000	$ 22,269,000
FTR [Member] | Not Designated as Hedging Instrument [Member]
Purchase of Units Derivative Instruments Financial Transmission Rights | MWh	6,987						6,987
Sale of Units Derivative Instruments Financial Transmission Rights | MWh	0						0
Derivative, Nonmonetary Notional Amount, Purchase (Sales), Net	$ 6,987,000						$ 6,987,000
Interest Rate Swap [Member] | Designated as Hedging Instrument [Member]
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	35,812,000			$ 33,667,000			35,812,000	$ 33,667,000
Other Current Assets [Member] | FTR [Member] | Not Designated as Hedging Instrument [Member]
Derivative Asset, Fair Value, Gross Asset	0						0		1,388,000
Other Current Assets [Member] | interest rate hedge | Not Designated as Hedging Instrument [Member]
Derivative Asset, Fair Value, Gross Asset	$ 2,817,000						$ 2,817,000		$ 14,294,000

Debt (Schedule Long-Term Indebt

Debt (Schedule Long-Term Indebtedness) (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2024	Dec. 31, 2023	Sep. 30, 2023
Debt Instrument [Line Items]
Unamortized discount - net	$ (9,500)	$ (9,500)	$ (6,800)
Deferred financing costs	(35,300)	(35,300)	(24,800)
Long-term debt	3,635,037	3,635,037	3,003,420
Less: Current Portion of Long-term Debt	80,000	80,000	445,000
Net Consolidated IPALCO Long-term Debt	3,555,037	3,555,037	2,558,420
Loans and Leases Receivable, Related Parties, Proceeds		92,000
Proceeds from Secured Lines of Credit		300,000
Unused lines of Credit
Debt Instrument [Line Items]
Proceeds from Secured Lines of Credit		100,000
FMB Twenty Seven
Debt Instrument [Line Items]
First mortgage bonds	650,000	650,000
Proceeds from Debt, Net of Issuance Costs	640,500
Five Point Seven Five Percent Senior Secured Notes
Debt Instrument [Line Items]
Proceeds from Debt, Net of Issuance Costs	394,000
Indianapolis Power And Light Company [Member]
Debt Instrument [Line Items]
First mortgage bonds	2,769,880	2,769,880	2,128,293
Unamortized discount - net	(8,150)	(8,150)	(6,449)
Long-term debt	$ 2,769,880	$ 2,769,880	2,128,293
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%	3.125%
First mortgage bonds	$ 40,000	$ 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%	6.60%
First mortgage bonds	$ 100,000	$ 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%	6.05%
First mortgage bonds	$ 158,800	$ 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%	6.60%
First mortgage bonds	$ 165,000	$ 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%	4.875%
First mortgage bonds	$ 140,000	$ 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%	4.65%
First mortgage bonds	$ 170,000	$ 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%	4.50%
First mortgage bonds	$ 130,000	$ 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%	4.70%
First mortgage bonds	$ 260,000	$ 260,000	260,000
Indianapolis Power And Light Company [Member] | FMB Twenty [Member]
Debt Instrument [Line Items]
Debt, stated interest rate	4.05%	4.05%
First mortgage bonds	$ 350,000	$ 350,000	350,000
Indianapolis Power And Light Company [Member] | FMB Twenty - one [Member]
Debt Instrument [Line Items]
Debt, stated interest rate	4.875%	4.875%
First mortgage bonds	$ 105,000	$ 105,000	105,000
Indianapolis Power And Light Company [Member] | FMB Twenty - two
Debt Instrument [Line Items]
Debt, stated interest rate	0.75%	0.75%
First mortgage bonds	$ 30,000	$ 30,000	30,000
Indianapolis Power And Light Company [Member] | FMB Twenty - three
Debt Instrument [Line Items]
Debt, stated interest rate	0.95%	0.95%
First mortgage bonds	$ 60,000	$ 60,000	60,000
Indianapolis Power And Light Company [Member] | FMB Twenty - four
Debt Instrument [Line Items]
Debt, stated interest rate	1.40%	1.40%
First mortgage bonds	$ 55,000	$ 55,000	55,000
Indianapolis Power And Light Company [Member] | FMB Twenty - five
Debt Instrument [Line Items]
Debt, stated interest rate	0.65%	0.65%
First mortgage bonds	$ 40,000	$ 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%	5.65%
First mortgage bonds	$ 350,000	$ 350,000	350,000
Indianapolis Power And Light Company [Member] | FMB Twenty Seven
Debt Instrument [Line Items]
Debt, stated interest rate	5.70%	5.70%
First mortgage bonds	$ 650,000	$ 650,000	0
Indianapolis Power And Light Company [Member] | $300M Term Loan
Debt Instrument [Line Items]
Short-Term Bank Loans and Notes Payable	300,000	300,000
Indianapolis Power And Light Company [Member] | $400M Term Loan
Debt Instrument [Line Items]
Short-Term Bank Loans and Notes Payable	400,000	400,000
Ipalco Enterprises, Inc. [Member]
Debt Instrument [Line Items]
Unamortized discount - net	(1,353)	(1,353)	(319)
Deferred financing costs	(8,490)	(8,490)	(4,554)
Net Consolidated IPALCO Long-term Debt	865,157	865,157	875,127
Ipalco Enterprises, Inc. [Member] | 5.00% Senior Secured Notes [Member]
Debt Instrument [Line Items]
Long-term debt	$ 400,000	$ 400,000	0
Ipalco Enterprises, Inc. [Member] | Three Point Seven Zero Percent Senior Secured Notes [Domain]
Debt Instrument [Line Items]
Debt, stated interest rate	3.70%	3.70%
Long-term debt	$ 0	$ 0	405,000
Ipalco Enterprises, Inc. [Member] | Four Point Two Five Percent Senior Secured Notes
Debt Instrument [Line Items]
Debt, stated interest rate	4.25%	4.25%
Long-term debt	$ 475,000	$ 475,000	475,000
Parent | Five Point Seven Five Percent Senior Secured Notes
Debt Instrument [Line Items]
Debt, stated interest rate	5.75%	5.75%
First Mortgage Bonds [Member] | Indianapolis Power And Light Company [Member]
Debt Instrument [Line Items]
Deferred financing costs	$ (25,770)	$ (25,770)	$ (19,058)
Line of Credit [Member] | Committed Line of Credit [Member]
Debt Instrument [Line Items]
Line of credit, outstanding borrowings	$ 50,000	$ 50,000		$ 155,000

Debt (Narrative) (Details)

Debt (Narrative) (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Dec. 31, 2023	Sep. 30, 2023
Debt Instrument [Line Items]
Long-term Debt	$ 3,635,037	$ 3,003,420
Proceeds from Secured Lines of Credit	300,000
Letters of Credit Outstanding, Amount	300,000
FMB Twenty Seven
Debt Instrument [Line Items]
Secured Debt	650,000
Subsidiaries [Member]
Debt Instrument [Line Items]
Long-term Debt	2,769,880	2,128,293
Secured Debt	2,769,880	2,128,293
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%
Subsidiaries [Member] | FMB Twenty Seven
Debt Instrument [Line Items]
Secured Debt	$ 650,000	0
Debt Instrument, Interest Rate, Stated Percentage	5.70%
Subsidiaries [Member] | $400M Term Loan
Debt Instrument [Line Items]
Short-Term Bank Loans and Notes Payable	$ 400,000
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	$ 0	$ 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	$ 50,000		$ 155,000

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Income Tax Disclosure [Abstract]
State and federal income tax rate	13.30%	9.70%	21.70%	12.20%
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	13.30%	9.70%	21.70%	12.20%
Estimated Annual Effective Income Tax Rate			17.30%

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, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Net Unfunded Status of Plans [Roll Forward]
Service cost	$ (1,253)	$ (1,297)	$ (3,759)	$ (3,892)
Interest cost	(6,739)	(7,455)	(20,217)	(22,365)
Expected return on assets	7,443	8,277	22,329	24,830
Regulatory Assets Related to Pensions [Roll Forward]
Amortization of prior service cost	(475)	(543)	(1,425)	(1,629)
Defined Benefit Plan, Amortization of Gain (Loss)	$ (1,207)	$ (1,536)	$ (3,621)	$ (4,608)

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, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Retirement Benefits [Abstract]
Service cost	$ 1,253	$ 1,297	$ 3,759	$ 3,892
Interest cost	6,739	7,455	20,217	22,365
Expected return on assets	(7,443)	(8,277)	(22,329)	(24,830)
Amortization of prior service cost	475	543	1,425	1,629
Amortization of actuarial loss	1,207	1,536	3,621	4,608
Net periodic benefit cost	$ 2,231	$ 2,554	$ 6,693	$ 7,664

Business Segment Information (D

Business Segment Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Segment Reporting Information [Line Items]
Income Tax Expense (Benefit)	$ 8,314	$ 3,802	$ 24,833	$ 8,663
Net Income (Loss) Attributable to Parent	54,068	35,431	89,725	62,552
UTILITY OPERATING REVENUES	449,171	402,887	1,254,566	1,290,580
Depreciation and amortization	85,493	72,021	248,846	212,292
Interest Expense	44,198	34,471	131,681	104,510
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest	62,382	39,233	114,558	71,215
Assets	7,032,943	6,181,523	7,032,943	6,181,523	$ 6,181,523
Electric [Member]
Segment Reporting Information [Line Items]
Depreciation and amortization	85,493	72,021	248,846	212,292
Interest Expense	33,745	23,502	99,007	71,604
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest	73,109	49,887	146,058	104,005
Assets	6,998,420	6,129,581	6,998,420	6,129,581
Other Segments [Member]
Segment Reporting Information [Line Items]
UTILITY OPERATING REVENUES	0	0	0	0
Depreciation and amortization	0	0	0	0
Interest Expense	10,453	10,969	32,674	32,906
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest	(10,727)	(10,654)	(31,500)	(32,790)
Assets	34,523	51,942	34,523	51,942
Electricity [Member]
Segment Reporting Information [Line Items]
UTILITY OPERATING REVENUES	$ 449,171	$ 402,887	$ 1,254,566	$ 1,290,580

Revenue (Details)

Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Disaggregation of Revenue [Line Items]
Contract with Customer, Asset, before Allowance for Credit Loss	$ 300,681		$ 300,681		$ 218,822
REVENUE	449,171	$ 402,887	1,254,566	$ 1,290,580
Revenue from Contract with Customer, Including Assessed Tax	441,973	393,940	1,233,907	1,265,010
Retail Revenue [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	427,794	384,925	1,194,949	1,212,162
Other non-606 revenue	6,482	7,877	18,457	23,153
Wholesale Revenue [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	10,183	7,794	29,503	41,489
Miscellaneous revenue [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	3,995	1,221	9,454	11,359
Other non-606 revenue	717	1,070	2,203	2,417
RTO Capacity Revenue	97		97	8,155
Electricity [Member]
Disaggregation of Revenue [Line Items]
REVENUE	449,171	402,887	1,254,566	1,290,580
Utility | Retail Revenue [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	3,585	4,253	8,576	13,286
Utility | Retail Revenue [Member] | Residential Revenue
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	183,757	162,531		515,920
Utility | Retail Revenue [Member] | Small Commercial and Industrial
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	66,786	58,777		186,313
Utility | Retail Revenue [Member] | Large Commercial and Industrial
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	170,657	156,995		489,190
Utility | Retail Revenue [Member] | Public Lighting
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	3,009	2,369		7,453
Transmission Revenue | Miscellaneous revenue [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	$ 3,898	1,221	$ 9,357	$ 3,204
RTO Capacity Revenue		$ 0

Leases (Details)

Leases (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2024	Dec. 31, 2023
Leases [Abstract]
Operating Lease, Lease Income	$ 358	$ 455	$ 1,156	$ 1,275
Lessor, Operating Lease, Payment to be Received, Year One	136		136
Lessor, Operating Lease, Payment to be Received, Year Two	553		553
Lessor, Operating Lease, Payment to be Received, Year Three	554		554
Lessor, Operating Lease, Payment to be Received, Year Four	554		554
Lessor, Operating Lease, Payment to be Received, Year Five	354		354
Lessor, Operating Lease, Payment to be Received, after Year Five	891		891
Lessor, Operating Lease, Payments to be Received	3,042		3,042
Lessor, Operating Lease, Assumptions and Judgments, Value of Underlying Asset, Amount	4,387	4,341	4,387	4,341
Property Subject to or Available for Operating Lease, Accumulated Depreciation	(1,381)	(1,222)	(1,381)	(1,222)
Lessee, Lease, Description [Line Items]
Operating Lease, Lease Income	358	455	1,156	1,275
Lessor, Operating Lease, Assumptions and Judgments, Value of Underlying Asset, Amount	4,387	4,341	4,387	4,341
Property Subject to or Available for Operating Lease, Accumulated Depreciation	(1,381)	(1,222)	(1,381)	(1,222)
Property, Plant, and Equipment, Lessor Asset under Operating Lease, after Accumulated Depreciation	3,006	3,119	3,006	3,119
Operating Lease, Payments, Use			3,400	0
Finance Lease, Right-of-Use Asset, before Accumulated Amortization	86,934		86,934			$ 16,357
Finance Lease, Liability, Current	218		218			0
Finance Lease, Liability, Noncurrent	86,640		86,640			$ 17,769
Finance Lease, Liability	$ 86,858	$ 17,769	$ 86,858	$ 17,769	$ 86,858
Finance Lease, Weighted Average Remaining Lease Term	36 years		36 years			35 years
Finance Lease, Weighted Average Discount Rate, Percent	5.67%		5.67%			5.30%
Finance Lease, Liability, to be Paid, Next Rolling 12 Months					446
Finance Lease, Liability, to be Paid, Rolling Year Two					4,446
Finance Lease, Liability, to be Paid, Year Three					4,535
Finance Lease, Liability, to be Paid, Year Four					4,625
Finance Lease, Liability, to be Paid, Year Five					4,718
Finance Lease, Liability, to be Paid, after Year Five					209,278
Total Future Lease Payments					228,048
Imputed interest					$ (141,190)
Operating Lease, Lease Income [Table Text Block]			The following table presents lease revenue 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, 2024 2023 2024 2023 Total lease revenue $ 358 $ 455 $ 1,156 $ 1,275

Equity (Details)

Equity (Details) - USD ($)	3 Months Ended	9 Months Ended
	Jun. 30, 2024	Sep. 30, 2024	Sep. 30, 2023	May 31, 2024
Class of Stock [Line Items]
Proceeds from Contributions from Parent	$ 150,000,000	$ 150,000,000	$ 0
Proceeds from Contributed Capital		150,000,000
Capital Unit [Line Items]
Equity Capital Contribution		123,500,000
Limited Partners' Contributed Capital		126,200,000		$ 46,900,000
AES U.S. Holdings, LLC [Member]
Capital Unit [Line Items]
Equity Capital Contribution		105,000,000
Aes U.S. Investments [Member]
Capital Unit [Line Items]
Equity Capital Contribution		123,500,000
CDPQ [Member]
Capital Unit [Line Items]
Equity Capital Contribution		18,500,000
Equity Capital Contribution to IPALCO		$ 26,500,000