Fair Value (Tables)

12 Months Ended

Dec. 31, 2021

Dec. 31, 2019

Entity Information [Line Items]

Summary of Fair Value Assets and Liabilities Measured on a Recurring Basis, Level 3

The fair value of assets and liabilities at December 31, 2021 measured on a recurring basis and the respective category within the fair value hierarchy for IPALCO was determined as follows:

Assets and Liabilities at Fair Value
			Level 1		Level 2		Level 3
	Fair value at December 31, 2021		Based on quoted market prices in active markets		Other observable inputs		Unobservable inputs
	(In Thousands)
Financial assets:
VEBA investments:
Money market funds	$	11	$	11	$	—	$	—
Mutual funds	3,594		—		3,594		—
Total VEBA investments	3,605		11		3,594		—
Financial transmission rights	1,235		—		—		1,235
Total financial assets measured at fair value	$	4,840	$	11	$	3,594	$	1,235
Financial liabilities:
Interest rate hedges	$	49,382	$	—	$	49,382	$	—
Total financial liabilities measured at fair value	$	49,382	$	—	$	49,382	$	—

The fair value of assets and liabilities at December 31, 2020 measured on a recurring basis and the respective category within the fair value hierarchy for IPALCO was determined as follows:

Assets and Liabilities at Fair Value
			Level 1		Level 2		Level 3
	Fair value at December 31, 2020		Based on quoted market prices in active markets		Other observable inputs		Unobservable inputs
	(In Thousands)
Financial assets:
VEBA investments:
Money market funds	$	16	$	16	$	—	$	—
Mutual funds	3,209		—		3,209		—
Total VEBA investments	3,225		16		3,209		—
Financial transmission rights	543		—		—		543
Total financial assets measured at fair value	$	3,768	$	16	$	3,209	$	543
Financial liabilities:
Interest rate hedges	$	63,215	$	—	$	63,215	$	—
Total financial liabilities measured at fair value	$	63,215	$	—	$	63,215	$	—

Reconciliation of Financial Instruments Classified as Level 3

The following table sets forth 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):

	Reconciliation of Financial Instruments Classified as Level 3
	(In Thousands)
Balance at January 1, 2020	$	864
Issuances	1,889
Settlements	(2,210)
Balance at December 31, 2020	$	543
Issuances	2,971
Settlements	(2,279)
Balance at December 31, 2021	$	1,235

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:

	December 31, 2021				December 31, 2020
	Face Value		Fair Value		Face Value		Fair Value
	(In Thousands)
Fixed-rate	$	2,683,800	$	3,169,118	$	2,683,800	$	3,295,588
Variable-rate	60,000		60,000		75,000		75,000
Total indebtedness	$	2,743,800	$	3,229,118	$	2,758,800	$	3,370,588

Indianapolis Power And Light Company

Entity Information [Line Items]

Fair Value Assets And Liabilities Measured On A Recurring Basis Unobservable Inputs [Table Text Block]

The fair value of assets and liabilities at December 31, 2021 measured on a recurring basis and the respective category within the fair value hierarchy for AES Indiana was determined as follows:

Assets and Liabilities at Fair Value
			Level 1		Level 2		Level 3
	Fair value at December 31, 2021		Based on quoted market prices in active markets		Other observable inputs		Unobservable inputs
	(In Thousands)
Financial assets:
Financial transmission rights	$	1,235	$	—	$	—	$	1,235
Total financial assets measured at fair value	$	1,235	$	—	$	—	$	1,235

The fair value of assets and liabilities at December 31, 2020 measured on a recurring basis and the respective category within the fair value hierarchy for AES Indiana was determined as follows:

Assets and Liabilities at Fair Value
			Level 1		Level 2		Level 3
	Fair value at December 31, 2020		Based on quoted market prices in active markets		Other observable inputs		Unobservable inputs
	(In Thousands)
Financial assets:
Financial transmission rights	$	543	$	—	$	—	$	543
Total financial assets measured at fair value	$	543	$	—	$	—	$	543

Reconciliation of Financial Instruments Classified as Level 3

The following table sets forth 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):

	Reconciliation of Financial Instruments Classified as Level 3
	(In Thousands)
Balance at January 1, 2020	$	864
Issuances	1,889
Settlements	(2,210)
Balance at December 31, 2020	$	543
Issuances	2,971
Settlements	(2,279)
Balance at December 31, 2021	$	1,235

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: 

	December 31, 2021				December 31, 2020
	Face Value		Fair Value		Face Value		Fair Value
	(In Thousands)
Fixed-rate	$	1,803,800	$	2,222,772	$	1,803,800	$	2,302,973
Variable-rate	60,000		60,000		75,000		75,000
Total indebtedness	$	1,863,800	$	2,282,772	$	1,878,800	$	2,377,973