Fair Value Measurements and Credit Concentration (Tables)

12 Months Ended

Dec. 31, 2014

Fair Value [Line Items]

Fair Value of Assets and Liabilities Measured on Recurring Basis

The assets and liabilities measured at fair value were:

				December 31, 2014								December 31, 2013
				Total		Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3
PPL
Assets
	Cash and cash equivalents			$	1,751	$	1,751					$	1,102	$	1,102
	Short-term investments				120		120
	Restricted cash and cash equivalents (a)				224		224						134		134
	Price risk management assets:
		Energy commodities			1,318		6	$	1,171	$	141		1,188		3	$	1,123	$	62
		Interest rate swaps											91				91
		Foreign currency contracts			130				130
		Cross-currency swaps			29				28		1
	Total price risk management assets				1,477		6		1,329		142		1,279		3		1,214		62
	NDT funds:
		Cash and cash equivalents			19		19						14		14
		Equity securities
			U.S. large-cap		611		454		157				547		409		138
			U.S. mid/small-cap		89		37		52				81		33		48
		Debt securities
			U.S. Treasury		99		99						95		95
			U.S. government sponsored agency		9				9				6				6
			Municipality		76				76				77				77
			Investment-grade corporate		42				42				38				38
			Other		3				3				5				5
		Receivables (payables), net			2				2				1		(1)		2
	Total NDT funds				950		609		341				864		550		314
	Auction rate securities (b)				10						10		19						19
Total assets				$	4,532	$	2,710	$	1,670	$	152	$	3,398	$	1,789	$	1,528	$	81
Liabilities
	Price risk management liabilities:
		Energy commodities		$	1,217	$	5	$	1,182	$	30	$	1,070	$	4	$	1,028	$	38
		Interest rate swaps			156				156				36				36
		Foreign currency contracts			2				2				106				106
		Cross-currency swaps			3				3				32				32
	Total price risk management liabilities			$	1,378	$	5	$	1,343	$	30	$	1,244	$	4	$	1,202	$	38
PPL Energy Supply
Assets
	Cash and cash equivalents			$	352	$	352					$	239	$	239
	Restricted cash and cash equivalents (a)				193		193						85		85
	Price risk management assets:
		Energy commodities			1,318		6	$	1,171	$	141		1,188		3	$	1,123	$	62
	Total price risk management assets				1,318		6		1,171		141		1,188		3		1,123		62
	NDT funds:
		Cash and cash equivalents			19		19						14		14
		Equity securities
			U.S. large-cap		611		454		157				547		409		138
			U.S. mid/small-cap		89		37		52				81		33		48
		Debt securities
			U.S. Treasury		99		99						95		95
			U.S. government sponsored agency		9				9				6				6
			Municipality		76				76				77				77
			Investment-grade corporate		42				42				38				38
			Other		3				3				5				5
		Receivables (payables), net			2				2				1		(1)		2
	Total NDT funds				950		609		341				864		550		314
	Auction rate securities (b)				8						8		16						16
Total assets				$	2,821	$	1,160	$	1,512	$	149	$	2,392	$	877	$	1,437	$	78
Liabilities
	Price risk management liabilities:
		Energy commodities		$	1,217	$	5	$	1,182	$	30	$	1,070	$	4	$	1,028	$	38
	Total price risk management liabilities			$	1,217	$	5	$	1,182	$	30	$	1,070	$	4	$	1,028	$	38
PPL Electric
Assets
	Cash and cash equivalents			$	214	$	214					$	25	$	25
	Restricted cash and cash equivalents (c)				3		3						12		12
Total assets				$	217	$	217					$	37	$	37

LKE
Assets
	Cash and cash equivalents		$	21	$	21			$	35	$	35
	Cash collateral posted to counterparties (d)			21		21				22		22
Total assets			$	42	$	42			$	57	$	57
Liabilities
	Price risk management liabilities:
		Interest rate swaps	$	114			$	114	$	36			$	36
	Total price risk management liabilities		$	114			$	114	$	36			$	36
LG&E
Assets
	Cash and cash equivalents		$	10	$	10			$	8	$	8
	Cash collateral posted to counterparties (d)			21		21				22		22
Total assets			$	31	$	31			$	30	$	30
Liabilities
	Price risk management liabilities:
		Interest rate swaps	$	81			$	81	$	36			$	36
	Total price risk management liabilities		$	81			$	81	$	36			$	36
KU
Assets
	Cash and cash equivalents		$	11	$	11			$	21	$	21
Total assets			$	11	$	11			$	21	$	21
Liabilities
	Price risk management liabilities:
		Interest rate swaps	$	33			$	33
	Total price risk management liabilities		$	33			$	33

(a)Current portion is included in "Restricted cash and cash equivalents" and long-term portion is included in "Other noncurrent assets" on the Balance Sheets.

(b)Included in "Other investments" on the Balance Sheets.

(c)Current portion is included in "Other current assets" and long-term portion is included in "Other noncurrent assets" on the Balance Sheets.

(d)Included in "Other noncurrent assets" on the Balance Sheets. Represents cash collateral posted to offset the exposure with counterparties related to certain interest rate swaps under master netting arrangements that are not offset.

Reconciliation of Net Assets and Liabilities Classified as Level 3

A reconciliation of net assets and liabilities classified as Level 3 for the years ended December 31 is as follows:
			PPL
			Fair Value Measurements Using Significant Unobservable Inputs (Level 3)
			Energy		Auction		Cross-
			Commodities,		Rate		Currency
			net		Securities		Swaps		Total
2014
Balance at beginning of period			$	24	$	19			$	43
	Total realized/unrealized gains (losses)
		Included in earnings		(32)						(32)
		Included in OCI (a)					$	(2)		(2)
	Purchases			(6)						(6)
	Sales			67		(9)				58
	Settlements			50						50
	Transfers into Level 3			7				1		8
	Transfers out of Level 3			1				2		3
Balance at end of period			$	111	$	10	$	1	$	122
2013
Balance at beginning of period			$	22	$	16	$	1	$	39
	Total realized/unrealized gains (losses)
		Included in earnings		(5)						(5)
		Included in OCI (a)						1		1
	Sales			(2)						(2)
	Settlements			(3)						(3)
	Transfers into Level 3			10		3		3		16
	Transfers out of Level 3			2				(5)		(3)
Balance at end of period			$	24	$	19	$		$	43

(a)"Energy Commodities, net" and "Cross-Currency Swaps" are included in "Qualifying derivatives" and "Auction Rate Securities" are included in "Available-for-sale securities" on the Statements of Comprehensive Income.

Significant Unobservable Inputs Used in Fair Value Measurement of Assets and Liabilities Classified as Level 3

The significant unobservable inputs used in and quantitative information about the fair value measurement of assets and liabilities classified as Level 3 are as follows:

		December 31, 2014
			Fair Value, net		Significant	Range
		Asset		Valuation	Unobservable	(Weighted
		(Liability)		Technique	Input(s)	Average) (a)
PPL
Energy commodities
	Natural gas contracts (b)	$	59	Discounted cash flow	Proprietary model used to calculate forward prices	11% - 100% (52%)
	Power sales contracts (c)		(1)	Discounted cash flow	Proprietary model used to calculate forward prices	9% - 100% (59%)
	FTR purchase contracts (d)		3	Discounted cash flow	Historical settled prices used to model forward prices	100% (100%)
	Heat Rate Options (e)		50	Discounted cash flow	Proprietary model used to calculate forward prices	23% - 51% (45%)
Auction rate securities (f)			10	Discounted cash flow	Modeled from SIFMA Index	44% - 69% (63%)
Cross-currency swaps (g)			1	Discounted cash flow	Credit valuation adjustment	15% (15%)
PPL Energy Supply
Energy commodities
	Natural gas contracts (b)	$	59	Discounted cash flow	Proprietary model used to calculate forward prices	11% - 100% (52%)
	Power sales contracts (c)		(1)	Discounted cash flow	Proprietary model used to calculate forward prices	9% - 100% (59%)
	FTR purchase contracts (d)		3	Discounted cash flow	Historical settled prices used to model forward prices	100% (100%)
	Heat Rate Options (e)		50	Discounted cash flow	Proprietary model used to calculate forward prices	23% - 51% (45%)
Auction rate securities (f)			8	Discounted cash flow	Modeled from SIFMA Index	51% - 69% (63%)

		December 31, 2013
		Fair Value, net			Significant	Range
		Asset		Valuation	Unobservable	(Weighted
		(Liability)		Technique	Input(s)	Average) (a)
PPL
Energy commodities
	Natural gas contracts (b)	$	36	Discounted cash flow	Proprietary model used to calculate forward prices	10% - 100% (86%)
	Power sales contracts (c)		(12)	Discounted cash flow	Proprietary model used to calculate forward prices	100% (100%)
Auction rate securities (f)			19	Discounted cash flow	Modeled from SIFMA Index	10% - 80% (63%)
PPL Energy Supply
Energy commodities
	Natural gas contracts (b)	$	36	Discounted cash flow	Proprietary model used to calculate forward prices	10% - 100% (86%)
	Power sales contracts (c)		(12)	Discounted cash flow	Proprietary model used to calculate forward prices	100% (100%)
Auction rate securities (f)			16	Discounted cash flow	Modeled from SIFMA Index	10% - 80% (63%)

(a)For energy commodities and auction rate securities, therange and weighted average represent the percentage of fair value derived from the unobservable inputs. For cross-currency swaps, the range and weighted average represent the percentage change in fair value due to the unobservable inputs used in the model to calculate the credit valuation adjustment.

(b)As the forward price of natural gas increases/(decreases), the fair value of purchase contracts increases/(decreases). As the forward price of natural gas increases/(decreases), the fair value of sales contracts (decreases)/increases.

(c)As forward market prices increase/(decrease), the fair value of contracts (decreases)/increases. As volumetric assumptions for contracts in a gain position increase/(decrease), the fair value of contracts increases/(decreases). As volumetric assumptions for contracts in a loss position increase/(decrease), the fair value of the contracts (decreases)/increases.

(d)As the forward implied spread increases/(decreases), the fair value of the contracts increases/(decreases).

(e)The proprietary model used to calculate fair value incorporates market heat rates, correlations and volatilities. As the market implied heat rate increases/(decreases), the fair value of the contracts increases/(decreases).

(f)The model used to calculate fair value incorporates an assumption that the auctions will continue to fail. As the modeled forward rates of the SIFMA Index increase/(decrease), the fair value of the securities increases/(decreases).

(g)The credit valuation adjustment incorporates projected probabilities of default and estimated recovery rates. As the credit valuation adjustment increases/(decreases), the fair value of the swaps (decreases)/increases.

The significant unobservable inputs used in and the quantitative information about the nonrecurring fair value measurement of assets and liabilities classified as Level 3 are as follows:
		Fair Value, net			Significant	Range
			Asset	Valuation	Unobservable	(Weighted
		(Liability)		Technique	Input(s)	Average) (a)
PPL and PPL Energy Supply
Kerr Dam Project:
	March 31, 2014	$	29	Discounted cash flow	Proprietary model used to calculate plant value	38% (38%)
Corette plant and emission allowances:
	December 31, 2013			Discounted cash flow	Long-term forward price curves and capital expenditure projections	100% (100%)
PPL, LKE and KU
Equity investment in EEI:
	December 31, 2012			Discounted cash flow	Long-term forward price curves and capital expenditure projections	100% (100%)

(a)The range and weighted average represent the percentage of fair value derived from the unobservable inputs.

Fair Value of Assets and Liabilities Classified as Level 3 Measured on Recurring Basis Included in Earnings

Net gains and losses on assets and liabilities classified as Level 3 and included in earnings for the years endedDecember 31 were reported in the Statements of Income as follows:

		Energy Commodities, net
		Unregulated				Unregulated Retail									Energy
		Wholesale Energy				Energy						Fuel			Purchases
		2014		2013		2014			2013		2014		2013		2014		2013
PPL and PPL Energy Supply
Total gains (losses) included in earnings		$	(77)	$	(36)		$	23	$	25			$	3	$	22	$	3
Change in unrealized gains (losses) relating to
	positions still held at the reporting date		50		(23)			37		24						(4)		1

Fair Value of Assets and Liabilities Measured on Nonrecurring Basis

The following nonrecurring fair value measurements occurred during the reporting periods, resulting in asset impairments.

			Carrying		Level 3
			Amount (a)		Fair Value		Loss (b)
PPL and PPL Energy Supply
	Kerr Dam Project (c):
		March 31, 2014	$	47	$	29	$	18
	Corette plant and emission allowances:
		December 31, 2013		65				65
PPL, LKE and KU
	Equity investment in EEI:
		December 31, 2012		25				25

(a)Represents carrying value before fair value measurement.

(b)The loss on the Kerr Dam Project was recorded in the Supply segment and included in "Income (Loss) from Discontinued Operations (net of income taxes)" on the Statement of Income. The loss on the Corette plant and emission allowances was recorded in the Supply segment and included in "Other operation and maintenance" on the Statement of Income. The loss on the EEI investment was recorded in the Kentucky Regulated segment and included in "Other-Than-Temporary Impairments" on the Statement of Income.

(c)The Kerr Dam Project was included in the sale of the Montana Hydroelectric facilities and the assets were removed from the Balance Sheet. See Note 8 for additional information.

Fair Value of Financial Instruments Not Recorded at Fair Value - Other

The carrying amounts of long-term debt on the Balance Sheets and their estimated fair values are set forth below.

	December 31, 2014				December 31, 2013
	Carrying				Carrying
	Amount		Fair Value		Amount		Fair Value
PPL	$	20,391	$	22,670	$	20,907	$	22,177
PPL Energy Supply		2,218		2,204		2,525		2,658
PPL Electric		2,602		2,990		2,315		2,483

LKE	4,567	4,946	4,565	4,672
LG&E	1,353	1,455	1,353	1,372
KU	2,091	2,313	2,091	2,155

PPL Energy Supply LLC [Member]

Fair Value [Line Items]

Reconciliation of Net Assets and Liabilities Classified as Level 3

A reconciliation of net assets and liabilities classified as Level 3 for the years ended December 31 is as follows:
			PPL Energy Supply
			Fair Value Measurements Using Significant Unobservable Inputs (Level 3)
			Energy		Auction
			Commodities,		Rate
			net		Securities		Total
2014
Balance at beginning of period			$	24	$	16	$	40
	Total realized/unrealized gains (losses)
		Included in earnings		(32)				(32)
		Included in OCI (a)				1		1
	Purchases			(6)				(6)
	Sales			67		(9)		58
	Settlements			50				50
	Transfers into Level 3			7				7
	Transfers out of Level 3			1				1
Balance at end of period			$	111	$	8	$	119
2013
Balance at beginning of period			$	22	$	13	$	35
	Total realized/unrealized gains (losses)
		Included in earnings		(5)				(5)
	Sales			(2)				(2)
	Settlements			(3)				(3)
	Transfers into Level 3			10		3		13
	Transfers out of Level 3			2				2
Balance at end of period			$	24	$	16	$	40

(a)"Energy Commodities, net" are included in "Qualifying derivatives" and "Auction Rate Securities" are included in "Available-for-sale securities" on the Statements of Comprehensive Income.

Significant Unobservable Inputs Used in Fair Value Measurement of Assets and Liabilities Classified as Level 3

The significant unobservable inputs used in and quantitative information about the fair value measurement of assets and liabilities classified as Level 3 are as follows:

		December 31, 2014
			Fair Value, net		Significant	Range
		Asset		Valuation	Unobservable	(Weighted
		(Liability)		Technique	Input(s)	Average) (a)
PPL
Energy commodities
	Natural gas contracts (b)	$	59	Discounted cash flow	Proprietary model used to calculate forward prices	11% - 100% (52%)
	Power sales contracts (c)		(1)	Discounted cash flow	Proprietary model used to calculate forward prices	9% - 100% (59%)
	FTR purchase contracts (d)		3	Discounted cash flow	Historical settled prices used to model forward prices	100% (100%)
	Heat Rate Options (e)		50	Discounted cash flow	Proprietary model used to calculate forward prices	23% - 51% (45%)
Auction rate securities (f)			10	Discounted cash flow	Modeled from SIFMA Index	44% - 69% (63%)
Cross-currency swaps (g)			1	Discounted cash flow	Credit valuation adjustment	15% (15%)
PPL Energy Supply
Energy commodities
	Natural gas contracts (b)	$	59	Discounted cash flow	Proprietary model used to calculate forward prices	11% - 100% (52%)
	Power sales contracts (c)		(1)	Discounted cash flow	Proprietary model used to calculate forward prices	9% - 100% (59%)
	FTR purchase contracts (d)		3	Discounted cash flow	Historical settled prices used to model forward prices	100% (100%)
	Heat Rate Options (e)		50	Discounted cash flow	Proprietary model used to calculate forward prices	23% - 51% (45%)
Auction rate securities (f)			8	Discounted cash flow	Modeled from SIFMA Index	51% - 69% (63%)

		December 31, 2013
		Fair Value, net			Significant	Range
		Asset		Valuation	Unobservable	(Weighted
		(Liability)		Technique	Input(s)	Average) (a)
PPL
Energy commodities
	Natural gas contracts (b)	$	36	Discounted cash flow	Proprietary model used to calculate forward prices	10% - 100% (86%)
	Power sales contracts (c)		(12)	Discounted cash flow	Proprietary model used to calculate forward prices	100% (100%)
Auction rate securities (f)			19	Discounted cash flow	Modeled from SIFMA Index	10% - 80% (63%)
PPL Energy Supply
Energy commodities
	Natural gas contracts (b)	$	36	Discounted cash flow	Proprietary model used to calculate forward prices	10% - 100% (86%)
	Power sales contracts (c)		(12)	Discounted cash flow	Proprietary model used to calculate forward prices	100% (100%)
Auction rate securities (f)			16	Discounted cash flow	Modeled from SIFMA Index	10% - 80% (63%)

(a)For energy commodities and auction rate securities, therange and weighted average represent the percentage of fair value derived from the unobservable inputs. For cross-currency swaps, the range and weighted average represent the percentage change in fair value due to the unobservable inputs used in the model to calculate the credit valuation adjustment.

(b)As the forward price of natural gas increases/(decreases), the fair value of purchase contracts increases/(decreases). As the forward price of natural gas increases/(decreases), the fair value of sales contracts (decreases)/increases.

(c)As forward market prices increase/(decrease), the fair value of contracts (decreases)/increases. As volumetric assumptions for contracts in a gain position increase/(decrease), the fair value of contracts increases/(decreases). As volumetric assumptions for contracts in a loss position increase/(decrease), the fair value of the contracts (decreases)/increases.

(d)As the forward implied spread increases/(decreases), the fair value of the contracts increases/(decreases).

(e)The proprietary model used to calculate fair value incorporates market heat rates, correlations and volatilities. As the market implied heat rate increases/(decreases), the fair value of the contracts increases/(decreases).

(f)The model used to calculate fair value incorporates an assumption that the auctions will continue to fail. As the modeled forward rates of the SIFMA Index increase/(decrease), the fair value of the securities increases/(decreases).

(g)The credit valuation adjustment incorporates projected probabilities of default and estimated recovery rates. As the credit valuation adjustment increases/(decreases), the fair value of the swaps (decreases)/increases.

The significant unobservable inputs used in and the quantitative information about the nonrecurring fair value measurement of assets and liabilities classified as Level 3 are as follows:
		Fair Value, net			Significant	Range
			Asset	Valuation	Unobservable	(Weighted
		(Liability)		Technique	Input(s)	Average) (a)
PPL and PPL Energy Supply
Kerr Dam Project:
	March 31, 2014	$	29	Discounted cash flow	Proprietary model used to calculate plant value	38% (38%)
Corette plant and emission allowances:
	December 31, 2013			Discounted cash flow	Long-term forward price curves and capital expenditure projections	100% (100%)
PPL, LKE and KU
Equity investment in EEI:
	December 31, 2012			Discounted cash flow	Long-term forward price curves and capital expenditure projections	100% (100%)

(a)The range and weighted average represent the percentage of fair value derived from the unobservable inputs.

Fair Value of Assets and Liabilities Classified as Level 3 Measured on Recurring Basis Included in Earnings

Net gains and losses on assets and liabilities classified as Level 3 and included in earnings for the years endedDecember 31 were reported in the Statements of Income as follows:

		Energy Commodities, net
		Unregulated				Unregulated Retail									Energy
		Wholesale Energy				Energy						Fuel			Purchases
		2014		2013		2014			2013		2014		2013		2014		2013
PPL and PPL Energy Supply
Total gains (losses) included in earnings		$	(77)	$	(36)		$	23	$	25			$	3	$	22	$	3
Change in unrealized gains (losses) relating to
	positions still held at the reporting date		50		(23)			37		24						(4)		1

Fair Value of Assets and Liabilities Measured on Nonrecurring Basis

The following nonrecurring fair value measurements occurred during the reporting periods, resulting in asset impairments.

			Carrying		Level 3
			Amount (a)		Fair Value		Loss (b)
PPL and PPL Energy Supply
	Kerr Dam Project (c):
		March 31, 2014	$	47	$	29	$	18
	Corette plant and emission allowances:
		December 31, 2013		65				65
PPL, LKE and KU
	Equity investment in EEI:
		December 31, 2012		25				25

(a)Represents carrying value before fair value measurement.

(b)The loss on the Kerr Dam Project was recorded in the Supply segment and included in "Income (Loss) from Discontinued Operations (net of income taxes)" on the Statement of Income. The loss on the Corette plant and emission allowances was recorded in the Supply segment and included in "Other operation and maintenance" on the Statement of Income. The loss on the EEI investment was recorded in the Kentucky Regulated segment and included in "Other-Than-Temporary Impairments" on the Statement of Income.

(c)The Kerr Dam Project was included in the sale of the Montana Hydroelectric facilities and the assets were removed from the Balance Sheet. See Note 8 for additional information.

LG And E And KU Energy LLC [Member]

Fair Value [Line Items]

Significant Unobservable Inputs Used in Fair Value Measurement of Assets and Liabilities Classified as Level 3

The significant unobservable inputs used in and the quantitative information about the nonrecurring fair value measurement of assets and liabilities classified as Level 3 are as follows:
		Fair Value, net			Significant	Range
			Asset	Valuation	Unobservable	(Weighted
		(Liability)		Technique	Input(s)	Average) (a)
PPL and PPL Energy Supply
Kerr Dam Project:
	March 31, 2014	$	29	Discounted cash flow	Proprietary model used to calculate plant value	38% (38%)
Corette plant and emission allowances:
	December 31, 2013			Discounted cash flow	Long-term forward price curves and capital expenditure projections	100% (100%)
PPL, LKE and KU
Equity investment in EEI:
	December 31, 2012			Discounted cash flow	Long-term forward price curves and capital expenditure projections	100% (100%)

(a)The range and weighted average represent the percentage of fair value derived from the unobservable inputs.

Fair Value of Assets and Liabilities Measured on Nonrecurring Basis

The following nonrecurring fair value measurements occurred during the reporting periods, resulting in asset impairments.

			Carrying		Level 3
			Amount (a)		Fair Value		Loss (b)
PPL and PPL Energy Supply
	Kerr Dam Project (c):
		March 31, 2014	$	47	$	29	$	18
	Corette plant and emission allowances:
		December 31, 2013		65				65
PPL, LKE and KU
	Equity investment in EEI:
		December 31, 2012		25				25

(a)Represents carrying value before fair value measurement.

(b)The loss on the Kerr Dam Project was recorded in the Supply segment and included in "Income (Loss) from Discontinued Operations (net of income taxes)" on the Statement of Income. The loss on the Corette plant and emission allowances was recorded in the Supply segment and included in "Other operation and maintenance" on the Statement of Income. The loss on the EEI investment was recorded in the Kentucky Regulated segment and included in "Other-Than-Temporary Impairments" on the Statement of Income.

(c)The Kerr Dam Project was included in the sale of the Montana Hydroelectric facilities and the assets were removed from the Balance Sheet. See Note 8 for additional information.

Kentucky Utilities Co [Member]

Fair Value [Line Items]

Significant Unobservable Inputs Used in Fair Value Measurement of Assets and Liabilities Classified as Level 3

The significant unobservable inputs used in and the quantitative information about the nonrecurring fair value measurement of assets and liabilities classified as Level 3 are as follows:
		Fair Value, net			Significant	Range
			Asset	Valuation	Unobservable	(Weighted
		(Liability)		Technique	Input(s)	Average) (a)
PPL and PPL Energy Supply
Kerr Dam Project:
	March 31, 2014	$	29	Discounted cash flow	Proprietary model used to calculate plant value	38% (38%)
Corette plant and emission allowances:
	December 31, 2013			Discounted cash flow	Long-term forward price curves and capital expenditure projections	100% (100%)
PPL, LKE and KU
Equity investment in EEI:
	December 31, 2012			Discounted cash flow	Long-term forward price curves and capital expenditure projections	100% (100%)

(a)The range and weighted average represent the percentage of fair value derived from the unobservable inputs.

Fair Value of Assets and Liabilities Measured on Nonrecurring Basis

The following nonrecurring fair value measurements occurred during the reporting periods, resulting in asset impairments.

			Carrying		Level 3
			Amount (a)		Fair Value		Loss (b)
PPL and PPL Energy Supply
	Kerr Dam Project (c):
		March 31, 2014	$	47	$	29	$	18
	Corette plant and emission allowances:
		December 31, 2013		65				65
PPL, LKE and KU
	Equity investment in EEI:
		December 31, 2012		25				25

(a)Represents carrying value before fair value measurement.

(b)The loss on the Kerr Dam Project was recorded in the Supply segment and included in "Income (Loss) from Discontinued Operations (net of income taxes)" on the Statement of Income. The loss on the Corette plant and emission allowances was recorded in the Supply segment and included in "Other operation and maintenance" on the Statement of Income. The loss on the EEI investment was recorded in the Kentucky Regulated segment and included in "Other-Than-Temporary Impairments" on the Statement of Income.

(c)The Kerr Dam Project was included in the sale of the Montana Hydroelectric facilities and the assets were removed from the Balance Sheet. See Note 8 for additional information.