What is a cash flow waterfall?

A cash flow waterfall is a bar chart that walks from operating cash flow through capital expenditure to free cash flow, then shows how the remaining cash is allocated — acquisitions, buybacks, dividends, debt, and other financing — ending at the net change in cash. Each step is colour-coded: green bars add to the running total, red bars subtract.

How does Alliant Energy (LNT) spend its free cash flow?

For TTM through Q1 2026, Alliant Energy generated $1.29B of operating cash flow and -$1.03B of free cash flow — a free cash flow margin of -79.7% of operating cash flow. The waterfall breaks down how the remaining cash was allocated across investing and financing activities.

How much did Alliant Energy (LNT) return via buybacks and dividends?

The waterfall shows buybacks (share repurchases) and dividends paid as separate steps in the financing section. Together these represent Alliant Energy's shareholder returns for TTM through Q1 2026. You can compare these against free cash flow to assess the capital-return payout ratio.

Alliant Energy (LNT) Cash Flow Waterfall

Operating CF

$1.29B

Capex

-$2.32B

Free Cash Flow

-$1.03B

FCF Margin

-79.7%

Cash flow waterfall for Alliant Energy (LNT) — TTM through Q1 2026

Free cash flow: -$1.03B

Note: Other Investing is large — driven mainly by purchases or sales of investments.

Cash flow breakdown for Alliant Energy (LNT) — TTM through Q1 2026

Line item	Amount	Running total
Operating Cash Flow	$1.29B	$1.29B
Capital Expenditure	-$2.32B	-$1.03B
Free Cash Flow	-$1.03B	-$1.03B
Other Investing	$430M	-$597M
Dividends Paid	-$528M	-$1.13B
Net Debt Change	$1.2B	$75M
Other Financing & FX	$15M	$90M
Net Cash Increase	$90M	$90M

Operating Cash Flow$1.29B
Capital Expenditure-$2.32B
Free Cash Flow-$1.03B
Other Investing$430M
Dividends Paid-$528M
Net Debt Change$1.2B
Other Financing & FX$15M
Net Cash Increase$90M

Want to see what drove the FCF change?Free Cash Flow Bridge

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