LNT · 10-Q · 2026Q3 · Full report
Debt and Liquidity Position
ALLIANT ENERGY CORP · 2026-10-30 · Importance 37 · Surprise 32 · No source text
At September 30, 2026, Alliant Energy’s long-term debt, including current maturities, had a carrying amount of $11.459 billion, compared with $10.549 billion at December 31, 2025, an increase of 8.6%. IPL’s long-term debt carrying amount increased to $5.179 billion from $4.680 billion, while WPL’s was $3.672 billion versus $3.669 billion. In March 2026, Alliant Energy settled its 2026 Notes conversion obligations by paying the outstanding principal in cash and issuing 834,811 common shares for the excess conversion obligation. In October 2026, IPL and WPL entered into DOE loan guarantee agreements that may guarantee borrowings of up to $3.5 billion and $1.6 billion, respectively.
Key facts
- In 2027, IPL and WPL expect to issue up to $1.3 billion and $500 million, respectively, of long-term debt.
- In 2027, AEF and/or Alliant Energy at the parent-company level expect to issue up to $1 billion of long-term debt in aggregate.
- For the remainder of 2026, IPL and WPL expect to issue up to $200 million and $300 million, respectively, of long-term debt.
- AEF and WPL have $375 million and $300 million, respectively, of long-term debt maturing in 2027.
- Alliant Energy’s March 2026 term loan agreement included an option for additional term loans, subject to an aggregate cap.
- Alliant Energy’s long-term debt, excluding the current portion, was $11.085 billion at September 30, 2026, compared with $10.954 billion at December 31, 2025.
- As of September 30, 2026, Alliant Energy’s common equity was $7.808 billion, long-term debt including current maturities was $11.459 billion, short-term debt was $1.104 billion, total capitalization was $20.371 billion and total debt was $12.563 billion.
- In March 2026, Alliant Energy entered into a variable-rate term loan credit agreement at an interest rate of 4.5% as of September 30, 2026, maturing in March 2027; proceeds were for general corporate purposes.
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| cash | positive | committed | +3.0% | In 2027, IPL and WPL expect to issue up to $1.3 billion and $500 million, respectively, of long-term debt. |
| liability | negative | committed | -3.0% | In 2027, IPL and WPL expect to issue up to $1.3 billion and $500 million, respectively, of long-term debt. |
| cash | negative | committed | -2.2% | AEF and WPL have $375 million and $300 million, respectively, of long-term debt maturing in 2027. |
| liability | positive | committed | +2.2% | AEF and WPL have $375 million and $300 million, respectively, of long-term debt maturing in 2027. |
| cash | positive | committed | +1.6% | In 2027, AEF and/or Alliant Energy at the parent-company level expect to issue up to $1 billion of long-term debt in aggregate. |
| liability | negative | committed | -1.6% | In 2027, AEF and/or Alliant Energy at the parent-company level expect to issue up to $1 billion of long-term debt in aggregate. |
| liability | negative | committed | -0.8% | For the remainder of 2026, IPL and WPL expect to issue up to $200 million and $300 million, respectively, of long-term debt. |
| liability | negative | realized | -0.5% | Alliant Energy’s long-term debt, excluding the current portion, was $11.085 billion at September 30, 2026, compared with $10.954 billion… |