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