IPALCO ENTERPRISES, INC.

Overview

• IndustryElectric Services²
• HeadquartersIndianapolis, United States²
• Incorporated inIN³
• Business addressOne Monument Circle, Po Box 1595, Indianapolis, In 46204³
• Filer categoryNon-accelerated filer³
• Legal formFor-Profit Corporation²
• LEI5493000YFVK2DZX0JV43²
• StatusActive²
• LEI statusLapsed (not renewed)²
• Registered addressC/O JOSEPH G. STRINES, 46204 Indianapolis, United States²
• Registered withBusiness Services Division (Secretary of State), 198309-326²

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IPALCO is a holding company incorporated under the laws of the state of Indiana whose principal subsidiary is AES Indiana. AES Indiana is a regulated electric utility operating in the state of Indiana. Substantially all of our business consists of the generation, transmission, distribution and sale of electric energy conducted through AES Indiana. Our business segments are “utility” and “other.” All of our operations are conducted within the U.S. and principally within the state of Indiana. Please see Note 13, “Business Segments” to the Financial Statements of this Annual Report on Form 10-K.⁵ From its latest annual report

Corporate structure

IPALCO ENTERPRISES, INC. is part of a group headed by AES Corporation. 1,591 entities, 25 countries on record. Switch between the flow chart and the network, and select any entity to see its details.

Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; subsidiaries, stakes and holdings from Wikidata (CC0). Each entity in the chart links to its source.

What it owns

What IPALCO ENTERPRISES, INC. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

Investments

Intangibles and goodwill

Inventory

Properties, in its own words

Information relating to our properties is contained in “Item 1. Business – Properties” and Note 3, “Property, Plant and Equipment” to the Financial Statements of this Annual Report on Form 10-K.

AES Indiana’s mortgage and deed of trust secures first mortgage bonds issued by AES Indiana. Pursuant to the terms of the mortgage and deed of trust, substantially all property owned by AES Indiana is subject to a direct first mortgage lien securing indebtedness of $3,073.8 million at December 31, 2025. In addition, IPALCO has outstanding $875.0 million of debt obligations which are secured by its pledge of all of the outstanding common stock of AES Indiana.

Item 2 of the 10-K filed Mar 2, 2026.⁵

Subsidiaries and ownership

Ultimate parent

• AES Corporation²

Subsidiaries (Exhibit 21)

• AES Indiana Devco Holdings 1, LLC Indiana⁴
• AES Indiana Devco Holdings 2, LLC Indiana⁴
• AES Indiana Devco Holdings 3, LLC Indiana⁴
• AES Indiana Devco Holdings 4, LLC Indiana⁴
• AES Indiana Partner Sub, LLC Delaware⁴
• AES Indiana Sponsor Delaware⁴
• AES Pike County Energy Storage, LLC Delaware⁴
• Crossvine Solar 1, LLC Delaware⁴
• Hardy Hills JV, LLC Delaware⁴
• Hardy Hills Solar Energy LLC Delaware⁴
• Indianapolis Power & Light Company Indiana⁴
• Mid-America Capital Resources, Inc. Indiana⁴
• Petersburg Energy Center JV, LLC Delaware⁴
• Petersburg Energy Center, LLC Delaware⁴
• Pike County Energy Storage JV, LLC Delaware⁴
• Store Heat and Produce Energy, Inc. Indiana⁴

Ownership links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); each one cites its LEI record. The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.

Former names

• IPALCO ENTERPRISES INCJan 27, 1994 to May 12, 2004³

Timeline

1. Sep 16, 20268-K Executive or director change¹⁷
2. Jul 27, 20268-K Change of auditor¹⁸
3. Jul 15, 20268-K Executive or director change¹⁹
4. Jun 17, 20268-K Other events²⁰
5. Apr 24, 20268-K Executive or director change²¹
6. Apr 16, 20268-K Executive or director change²²
7. Oct 16, 20258-K Executive or director change²³
8. Oct 15, 20258-K Entered a material agreement²⁴
9. Aug 25, 20258-K Executive or director change²⁵
10. Aug 13, 20258-K Entered a material agreement; New debt or obligation²⁶
11. Aug 6, 20258-K Other events²⁷
12. Apr 10, 20258-K Entered a material agreement; Executive or director change; Bylaws or fiscal year changed²⁸

Filings

71 filings to the SEC since October 2021: 10 annual reports, 15 quarterly reports, 40 major events, 6 other. The latest 20:

1. Sep 16, 20268-K EDGAR
2. Aug 4, 202610-Q EDGAR
3. Jul 27, 20268-K EDGAR
4. Jul 15, 20268-K EDGAR
5. Jun 17, 20268-K EDGAR
6. May 5, 202610-Q EDGAR
7. Apr 30, 202610-K/A EDGAR
8. Apr 24, 20268-K EDGAR
9. Apr 16, 20268-K EDGAR
10. Mar 2, 202610-K EDGAR
11. Nov 4, 202510-Q EDGAR
12. Oct 16, 20258-K EDGAR
13. Oct 15, 20258-K EDGAR
14. Aug 25, 20258-K EDGAR
15. Aug 13, 20258-K EDGAR
16. Aug 6, 20258-K EDGAR
17. Aug 1, 202510-Q EDGAR
18. May 1, 202510-Q EDGAR
19. Apr 30, 202510-K/A EDGAR
20. Apr 10, 20258-K EDGAR

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

SEC filer profile

How IPALCO ENTERPRISES, INC. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

• Name on EDGARIPALCO ENTERPRISES, INC.¹
• CIK0000728391
• Employer ID (EIN)35-1575582⁵
• Filer statusNon-accelerated filer not an emerging growth company; not a smaller reporting company; not a shell company⁵
• Incorporated inIndiana⁵
• Fiscal year endsDecember 31¹
• Industry code (SIC)4911 Electric Services¹
• SEC reviewing officeOffice of Energy & Transportation, Division of Corporation Finance¹
• Business addressOne Monument Circle, Po Box 1595, Indianapolis, IN 46204¹
• Mailing addressOne Monument Circle, P.O. Box 1595, Indianapolis, IN 46204¹
• Phone3172618261¹
• Shares outstanding108,907,318 shares; 89,685,177 AESU.S.Investments shares; 19,222,141 CDPQ shares as of Dec 31, 2025⁵
• Public float$0 as of Dec 31, 2025²⁹
• AuditorErnst & Young LLP, Indianapolis, Indiana PCAOB ID 42; no auditor attestation of internal control over financial reporting⁵
• On EDGAR sinceJan 27, 1994¹
• Filings357 in all: 8-K (118), 10-Q (95), 10-K (31), 10-K/A (15), CORRESP (13), U-3A-2 (11), UPLOAD (9), 424B3 (7)¹
  All 35 form types

  DEF 14A (7), S-4 (6), S-8 (6), EFFECT (5), NT 10-Q (3), SC 13E4/A (3), SC 13G/A (3), 10-Q/A (2), 8-A12B/A (2), S-3DPOS (2), SC 13E3/A (2), SC 13E4 (2), 11-K (1), 15-12B (1), 8-K/A (1), DEFA14A (1), NT 10-K (1), NT 10-Q/A (1), PRE 14A (1), PRER14A (1), S-3 (1), S-3D (1), S-4/A (1), S-8 POS (1), SC 13E3 (1), SC 13G (1), U-3A-2/A (1)

• Latest filingsAnnual report (10-K) Mar 2, 2026
  Quarterly report (10-Q) Aug 4, 2026
  Proxy statement (DEF 14A) Mar 20, 2000
  Latest 8-K (8-K) Sep 16, 2026

Risk factors and legal proceedings

The risks IPALCO ENTERPRISES, INC. names in Item 1A of its 10-K filed Mar 2, 2026: 28 risks under these headings, as written.⁵

• RISKS ASSOCIATED WITH OUR OPERATIONS
• Our business is sensitive to weather and seasonal variations.
• Our electric generating and other facilities are subject to operational risks and uncertainties that at times result in unscheduled plant outages, unanticipated operation and/or maintenance expenses, increased fuel or power purchased costs and other liabilities, and these liabilities could become significant for which we may not have adequate insurance coverage. In addition, our generation projects are subject to development risks, including costs that may not be recoverable.
• Our transmission and distribution system is subject to operational, reliability, capacity and development risks.
• Our membership in an RTO presents risks that could have a material adverse effect on our results of operations, financial condition and cash flows.
• The cost of fuel and other commodities have experienced and could continue to experience volatility and we may not be able to hedge the entire exposure of our operations from availability and price volatility. In addition, until our coal units are converted or retired, a portion of our electricity is generated by coal.
• Severe weather or catastrophic events could adversely affect our facilities, systems and operations.
• Current and future conditions in the economy may adversely affect our customers, suppliers and other counterparties in a way which could materially and adversely affect our results of operations, financial condition and cash flows.
• Economic conditions relating to the asset performance and interest rates of the Pension Plans could materially and adversely impact our results of operations, financial condition and cash flows.
• Counterparties providing materials or services may fail to perform their obligations, which could materially and adversely impact our results of operations, financial condition and cash flows.
• We may be negatively affected by a lack of growth or a decline in the number of customers or in customer usage.
• Highly infectious or contagious disease outbreaks could impact our business and operations.

Legal proceedings

In the normal course of business, we are subject to various lawsuits, actions, claims, and other proceedings. We are also from time to time involved in other reviews, investigations and proceedings by governmental and regulatory agencies regarding our business, certain of which may result in adverse judgments, settlements, fines, penalties, injunctions or other relief. We have accrued in our Financial Statements of this Annual Report on Form 10-K for litigation and claims where it is probable that a liability has been incurred and the amount of loss can be reasonably estimated. We believe the amounts provided in our Financial Statements of this Annual Report on Form 10-K, as prescribed by GAAP, for these matters are adequate in light of the probable and estimable contingencies. However, there can be no assurances that the actual amounts required to satisfy alleged liabilities from various legal proceedings, claims and other matters (including those matters noted below), and to comply with applicable laws and regulations will not exceed the amounts reflected in our Financial Statements of this Annual Report on Form 10-K. As such, costs, if any, that may be incurred in excess of those amounts provided for in our Financial Statements of this Annual Report on Form 10-K, cannot be reasonably determined, but could be material. Please see Note 2, “Regulatory Matters” and Note 11, “Commitments and Contingencies” to the Financial Statements of this Annual Report on Form 10-K for summaries of significant legal proceedings involving us, which are incorporated by reference herein.

The following additional information is incorporated by reference into this Item: information about the legal proceedings contained in "Regulation" and “Environmental Matters” in “Item 1. Business” of this Annual Report on Form 10-K.

The opening of Item 3, Legal Proceedings.⁵