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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash Flows from Operating Activities    
Net income (loss) $ 307 $ 285
Depreciation 316 313
Amortization 24 17
Defined benefit plans - (income) expense (15) (18)
Deferred income taxes and investment tax credits 72 77
Other 3 8
Change in current assets and current liabilities    
Accounts receivable (75) (94)
Accounts payable (221) (63)
Unbilled revenues 57 109
Fuel, materials and supplies 33 10
Prepayments (108) (83)
Taxes payable (47) (42)
Regulatory assets and liabilities, net (61) (46)
Accrued interest 90 67
Other (103) (14)
Other operating activities    
Defined benefit plans - funding (5) (3)
Other assets (1) (61)
Other liabilities 16 (32)
Net cash provided by operating activities 282 430 Close
Cash Flows from Investing Activities    
Expenditures for property, plant and equipment (596) (499)
Other investing activities 5 (4)
Net cash used in investing activities (591) (503) Close
Cash Flows from Financing Activities    
Issuance of long-term debt 1,148 3,127
Retirement of long-term debt 0 (1,750)
Payment of common stock dividends (177) (171)
Net increase (decrease) in short-term debt (701) (985)
Other financing activities (22) (44)
Net cash provided by financing activities 248 177 Close
Net Increase (Decrease) in Cash, Cash Equivalents and Restricted Cash (61) 104 Close
Cash and Cash Equivalents at Beginning of Period 331  
Cash, Cash Equivalents and Restricted Cash at Beginning of Period 382 357
Cash and Cash Equivalents at End of Period 276  
Cash, Cash Equivalents and Restricted Cash at End of Period 321 461
Supplemental Disclosures of Cash Flow Information    
Accrued expenditures for property, plant and equipment at March 31, 253 257
PPL Electric Utilities Corp [Member]    
Cash Flows from Operating Activities    
Net income (loss) [1] 149 138
Depreciation 99 99
Amortization 12 9
Defined benefit plans - (income) expense (11) (10)
Deferred income taxes and investment tax credits 32 26
Other (7) (5)
Change in current assets and current liabilities    
Accounts receivable (33) (115)
Accounts payable (59) 30
Unbilled revenues 30 20
Fuel, materials and supplies (4) (17)
Prepayments (110) (77)
Taxes payable (48) (36)
Regulatory assets and liabilities, net (28) (12)
Accrued interest 35 15
Other (26) 17
Other operating activities    
Defined benefit plans - funding (1) (1)
Other assets 0 (22)
Other liabilities (2) (20)
Net cash provided by operating activities 28 39
Cash Flows from Investing Activities    
Expenditures for property, plant and equipment (229) (155)
Expenditures for intangible assets (1) (1)
Notes receivable from affiliates (554) 0
Other investing activities 4 0
Net cash used in investing activities (780) (156)
Cash Flows from Financing Activities    
Issuance of long-term debt 649 1,329
Retirement of long-term debt 0 (1,150)
Payment of common stock dividends to parent (88) (74)
Net increase (decrease) in short-term debt (509) (145)
Contributions from parent 675 200
Debt Issuance Costs (5) (12)
Net cash provided by financing activities 722 148
Net Increase (Decrease) in Cash, Cash Equivalents and Restricted Cash (30) 31
Cash and Cash Equivalents at Beginning of Period 51  
Cash, Cash Equivalents and Restricted Cash at Beginning of Period 51 25
Cash and Cash Equivalents at End of Period 21  
Cash, Cash Equivalents and Restricted Cash at End of Period 21 56
Supplemental Disclosures of Cash Flow Information    
Accrued expenditures for property, plant and equipment at March 31, 146 142
Louisville Gas And Electric Co [Member]    
Cash Flows from Operating Activities    
Net income (loss) 93 [2] 86
Depreciation 76 75
Amortization 3 3
Defined benefit plans - (income) expense 1 0
Deferred income taxes and investment tax credits 2 0
Change in current assets and current liabilities    
Accounts receivable (19) 28
Accounts receivable from affiliates (11) 14
Accounts payable 6 (35)
Increase (Decrease) in Accounts Payable, Related Parties 34 31
Unbilled revenues 16 33
Fuel, materials and supplies 13 41
Taxes payable (26) (27)
Regulatory assets and liabilities, net (21) 21
Accrued interest 23 18
Other (19) (11)
Other operating activities    
Defined benefit plans - funding (1) 0
Expenditures for asset retirement obligations (2) (2)
Other assets 0 (10)
Other liabilities (2) (1)
Net cash provided by operating activities 166 264
Cash Flows from Investing Activities    
Expenditures for property, plant and equipment (92) (86)
Notes receivable from affiliates (28) (9)
Net cash used in investing activities (120) (95)
Cash Flows from Financing Activities    
Issuance of long-term debt 0 399
Retirement of long-term debt 0 (300)
Payment of common stock dividends to parent (37) (31)
Net increase (decrease) in short-term debt 28 (179)
Return of capital to parent (51) (120)
Other financing activities 0 (3)
Net cash provided by financing activities (60) (234)
Net Increase (Decrease) in Cash, Cash Equivalents and Restricted Cash (14) (65)
Cash and Cash Equivalents at Beginning of Period 18  
Cash, Cash Equivalents and Restricted Cash at Beginning of Period 44 93
Cash and Cash Equivalents at End of Period 8  
Cash, Cash Equivalents and Restricted Cash at End of Period 30 28
Supplemental Disclosures of Cash Flow Information    
Accrued expenditures for property, plant and equipment at March 31, 35 46
Kentucky Utilities Co [Member]    
Cash Flows from Operating Activities    
Net income (loss) [3] 108 88
Depreciation 99 98
Amortization 5 5
Defined benefit plans - (income) expense (1) 0
Deferred income taxes and investment tax credits (1) (1)
Other (1) (1)
Change in current assets and current liabilities    
Accounts receivable (21) 16
Accounts payable (13) (16)
Increase (Decrease) in Accounts Payable, Related Parties 52 2
Unbilled revenues 6 25
Fuel, materials and supplies 8 (8)
Taxes payable (17) (11)
Regulatory assets and liabilities, net 1 8
Accrued interest 32 26
Other (7) 2
Other operating activities    
Defined benefit plans - funding (1) 0
Expenditures for asset retirement obligations (2) (5)
Other assets 8 (13)
Other liabilities (3) (1)
Net cash provided by operating activities 252 214
Cash Flows from Investing Activities    
Expenditures for property, plant and equipment (148) (141)
Net cash used in investing activities (148) (141)
Cash Flows from Financing Activities    
Issuance of long-term debt 0 399
Retirement of long-term debt 0 (300)
Increase Decrease In Notes Payable To Affiliates 37 9
Payment of common stock dividends to parent (47) (35)
Net increase (decrease) in short-term debt (48) (101)
Return of capital to parent (50) (54)
Other financing activities 0 (3)
Net cash provided by financing activities (108) (85)
Net Increase (Decrease) in Cash, Cash Equivalents and Restricted Cash (4) (12)
Cash and Cash Equivalents at Beginning of Period 14  
Cash, Cash Equivalents and Restricted Cash at Beginning of Period 38 21
Cash and Cash Equivalents at End of Period 12  
Cash, Cash Equivalents and Restricted Cash at End of Period 34 9
Supplemental Disclosures of Cash Flow Information    
Accrued expenditures for property, plant and equipment at March 31, $ 44 $ 60
[1] Net income equals comprehensive income.
[2] Net income equals comprehensive income.
[3] Net income equals comprehensive income.