v3.25.2
Business Segment Information (Notes)
 6 Months Ended
Jun. 30, 2025
Segment Reporting Information [Line Items]  
Segment Reporting Disclosure [Text Block] BUSINESS SEGMENTS
IPALCO manages its business through one reportable operating segment, the Utility segment, led by our Chief Executive Officer and Chief Financial Officer, who, collectively, are the Chief Operating Decision Maker. The primary segment performance measures are income / (loss) before income tax and net income / (loss) as management has concluded that these measures best reflect the underlying business performance of IPALCO and are the most relevant measures 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. See Note 1, "Overview and Summary of Significant Accounting Policies" for further information on AES Indiana. The “Other” nonutility category primarily includes the 2030 IPALCO Notes, 2034 IPALCO Notes and related interest expense, cash and other immaterial balances. 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 2024 Form 10-K for further information.
The following table provides information about IPALCO’s business segments (in thousands):

Three Months EndedThree Months Ended
 June 30, 2025June 30, 2024
 Utility
Other
TotalUtility
Other
Total
Revenue$438,684 $— $438,684 $397,594 $— $397,594 
Fuel99,973 — 99,973 77,639 — 77,639 
Power purchased31,239 — 31,239 44,103 — 44,103 
Operation and maintenance142,212 96 142,308 108,981 111 109,092 
Depreciation and amortization92,469 — 92,469 82,920 — 82,920 
Taxes other than income taxes4,231 — 4,231 6,547 — 6,547 
Allowance for equity funds used during construction(732)— (732)(1,269)— (1,269)
Interest expense36,145 10,447 46,592 32,885 10,950 43,835 
Other segment items (a)
245 (39)206 1,811 (741)1,070 
Income / (loss) before income tax32,902 (10,504)22,398 43,977 (10,320)33,657 
Income tax expense / (benefit)10,594 (3,959)6,635 14,740 (2,130)12,610 
Net income / (loss)$22,308 $(6,545)$15,763 $29,237 $(8,190)$21,047 
Capital expenditures
$149,708 $— $149,708 $278,746 $— $278,746 
Six Months EndedSix Months Ended
 June 30, 2025June 30, 2024
 Utility
Other
TotalUtility
Other
Total
Revenue$916,384 $— $916,384 $805,395 $— $805,395 
Fuel206,482 — 206,482 180,558 — 180,558 
Power purchased66,769 — 66,769 82,736 — 82,736 
Operation and maintenance284,698 218 284,916 224,227 233 224,460 
Depreciation and amortization178,074 — 178,074 163,353 — 163,353 
Taxes other than income taxes13,303 — 13,303 14,442 — 14,442 
Allowance for equity funds used during construction(1,401)— (1,401)(2,100)— (2,100)
Interest expense69,688 20,895 90,583 65,262 22,221 87,483 
Other segment items (a)
792 (20)772 3,968 (1,681)2,287 
Income / (loss) before income tax97,979 (21,093)76,886 72,949 (20,773)52,176 
Income tax expense / (benefit)46,786 (4,211)42,575 20,427 (3,908)16,519 
Net income / (loss)$51,193 $(16,882)$34,311 $52,522 $(16,865)35,657 
Capital expenditures
$296,824 $— $296,824 $537,870 $— $537,870 
As of June 30, 2025As of December 31, 2024
Utility
Other
TotalUtility
Other
Total
Total assets$7,485,203 $5,424 $7,490,627 $7,123,241 $15,784 $7,139,025