Income Taxes

3 Months Ended

Mar. 31, 2014

Income Taxes [Abstract]

Income Taxes

5.Income Taxes

Reconciliations of income taxes for the periods ended March 31 are:

(PPL)
			Three Months
			2014		2013
Federal income tax on Income Before Income Taxes at statutory tax rate - 35%			$	150	$	197
Increase (decrease) due to:
	State income taxes, net of federal income tax benefit			2		3
	Impact of lower U.K. income tax rates			(45)		(38)
	U.S. income tax on foreign earnings - net of foreign tax credit			11		2
	Federal income tax credits, excluding foreign tax credit			(1)		(4)
	Amortization of investment tax credit			(2)		(3)
	Depreciation not normalized			(2)		(3)
	Other			(1)		(3)
		Total increase (decrease)		(38)		(46)
Total income taxes			$	112	$	151

(PPL Energy Supply)
			Three Months
			2014		2013
Federal income tax on Income (Loss) Before Income Taxes at statutory tax rate - 35%			$	(40)	$	(26)
Increase (decrease) due to:
	State income taxes, net of federal income tax benefit			(9)		(6)
	Federal income tax credits			(1)		(3)
	Other			1
		Total increase (decrease)		(9)		(9)
Total income taxes			$	(49)	$	(35)

(PPL Electric)
			Three Months
			2014		2013
Federal income tax on Income Before Income Taxes at statutory tax rate - 35%			$	48	$	34
Increase (decrease) due to:
	State income taxes, net of federal income tax benefit			8		5
	Federal and state tax reserve adjustments					(2)
	Depreciation not normalized			(2)		(3)
	Other			(1)		(1)
		Total increase (decrease)		5		(1)
Total income taxes			$	53	$	33

(LKE)
			Three Months
			2014		2013
Federal income tax on Income Before Income Taxes at statutory tax rate - 35%			$	64	$	54
Increase (decrease) due to:
	State income taxes, net of federal income tax benefit			7		5
	Other			(2)		(2)
		Total increase (decrease)		5		3
Total income taxes			$	69	$	57

(LG&E)
			Three Months
			2014		2013
Federal income tax on Income Before Income Taxes at statutory tax rate - 35%			$	29	$	24
Increase (decrease) due to:
	State income taxes, net of federal income tax benefit			3		3
	Other			(2)		(2)
		Total increase (decrease)		1		1
Total income taxes			$	30	$	25

(KU)
			Three Months
			2014		2013
Federal income tax on Income Before Income Taxes at statutory tax rate - 35%			$	43	$	36
Increase (decrease) due to:
	State income taxes, net of federal income tax benefit			4		4
	Other			(1)		(1)
		Total increase (decrease)		3		3
Total income taxes			$	46	$	39