Fair Value (Tables)

12 Months Ended

Dec. 31, 2023

Entity Information [Line Items]

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

The fair value of assets at December 31, 2023 and 2022 measured on a recurring basis and the respective category within the fair value hierarchy for IPALCO was determined as follows:

	Fair Value as of December 31, 2023								Fair Value as of December 31, 2022
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
	(In Thousands)
Financial assets:
VEBA investments:
Money market funds	$	127	$	—	$	—	$	127	$	5	$	—	$	—	$	5
Mutual funds	3,425		—		—		3,425		3,223		—		—		3,223
Total VEBA investments	3,552		—		—		3,552		3,228		—		—		3,228
FTRs	—		—		1,388		1,388		—		—		7,545		7,545
Interest rate hedges	—		14,294		—		14,294		—		12,172		—		12,172
Total financial assets measured at fair value	$	3,552	$	14,294	$	1,388	$	19,234	$	3,228	$	12,172	$	7,545	$	22,945

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, 2022	$	1,235
Issuances	15,338
Settlements	(9,028)
Balance at December 31, 2022	7,545
Issuances	3,624
Settlements	(9,781)
Balance at December 31, 2023	$	1,388

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, 2023				December 31, 2022
	Face Value		Fair Value		Face Value		Fair Value
	(In Thousands)
Fixed-rate	$	3,033,800	$	2,860,467	$	3,033,800	$	2,775,644
Variable-rate	455,000		455,000		—		—
Total indebtedness	$	3,488,800	$	3,315,467	$	3,033,800	$	2,775,644

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 at December 31, 2023 and 2022 measured on a recurring basis and the respective category within the fair value hierarchy for AES Indiana was determined as follows:

	Fair Value as of December 31, 2023								Fair Value as of December 31, 2022
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
	(In Thousands)
Financial assets:
FTRs	$	—	$	—	$	1,388	$	1,388	$	—	$	—	$	7,545	$	7,545
Total financial assets measured at fair value	$	—	$	—	$	1,388	$	1,388	$	—	$	—	$	7,545	$	7,545

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, 2022	$	1,235
Issuances	15,338
Settlements	(9,028)
Balance at December 31, 2022	7,545
Issuances	3,624
Settlements	(9,781)
Balance at December 31, 2023	$	1,388

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, 2023				December 31, 2022
	Face Value		Fair Value		Face Value		Fair Value
	(In Thousands)
Fixed-rate	$	2,153,800	$	2,020,997	$	2,153,800	$	1,959,233
Variable-rate	455,000		455,000		—		—
Total indebtedness	$	2,608,800	$	2,475,997	$	2,153,800	$	1,959,233