The following table provides information about the regulatory assets and liabilities of cost-based rate-regulated utility operations.



	PPL				PPL Electric
	March 31, 2017		December 31, 2016		March 31, 2017		December 31, 2016
Current Regulatory Assets:
Environmental cost recovery	$	6	$	6	$	—	$	—
Generation formula rate	11		11		—		—
Transmission service charge	—		7		—		7
Smart meter rider	8		6		8		6
Storm costs	4		5		4		5
Other	7		4		1		1
Total current regulatory assets (a)	$	36	$	39	$	13	$	19

Noncurrent Regulatory Assets:
Defined benefit plans	$	936	$	947	$	543	$	549
Taxes recoverable through future rates	343		340		343		340
Storm costs	44		57		—		9
Unamortized loss on debt	58		61		34		36
Interest rate swaps	126		129		—		—
Accumulated cost of removal of utility plant	160		159		160		159
AROs	228		211		—		—
Other	13		14		—		1
Total noncurrent regulatory assets	$	1,908	$	1,918	$	1,080	$	1,094



Current Regulatory Liabilities:
Generation supply charge	$	19	$	23	$	19	$	23
Transmission service charge	5		—		5		—
Demand side management	2		3		—		—
Universal service rider	14		14		14		14
Transmission formula rate	6		15		6		15
Fuel adjustment clause	13		11		—		—
Act 129 compliance rider	16		17		16		17
Storm damage expense	5		13		5		13
Other	2		5		1		1
Total current regulatory liabilities	$	82	$	101	$	66	$	83



	PPL				PPL Electric
	March 31, 2017		December 31, 2016		March 31, 2017		December 31, 2016
Noncurrent Regulatory Liabilities:
Accumulated cost of removal of utility plant	$	701	$	700	$	—	$	—
Power purchase agreement - OVEC (b)	74		75		—		—
Net deferred tax assets	22		23		—		—
Defined benefit plans	23		23		—		—
Interest rate swaps	76		78		—		—
Other	1		—		—		—
Total noncurrent regulatory liabilities	$	897	$	899	$	—	$	—



	LKE				LG&E				KU
	March 31, 2017		December 31, 2016		March 31, 2017		December 31, 2016		March 31, 2017		December 31, 2016
Current Regulatory Assets:
Environmental cost recovery	$	6	$	6	$	6	$	6	$	—	$	—
Generation formula rate	11		11		—		—		11		11
Other	6		3		6		3		—		—
Total current regulatory assets	$	23	$	20	$	12	$	9	$	11	$	11

Noncurrent Regulatory Assets:
Defined benefit plans	$	393	$	398	$	242	$	246	$	151	$	152
Storm costs	44		48		24		26		20		22
Unamortized loss on debt	24		25		15		16		9		9
Interest rate swaps	126		129		86		88		40		41
AROs	228		211		77		70		151		141
Plant retirement costs	3		4		—		—		3		4
Other	10		9		4		4		6		5
Total noncurrent regulatory assets	$	828	$	824	$	448	$	450	$	380	$	374



Current Regulatory Liabilities:
Demand side management	$	2	$	3	$	1	$	2	$	1	$	1
Fuel adjustment clause	13		11		4		2		9		9
Other	1		4		—		1		1		3
Total current regulatory liabilities	$	16	$	18	$	5	$	5	$	11	$	13

Noncurrent Regulatory Liabilities:
Accumulated cost of removal of utility plant	$	701	$	700	$	308	$	305	$	393	$	395
Power purchase agreement - OVEC (b)	74		75		51		52		23		23
Net deferred tax assets	22		23		22		23		—		—
Defined benefit plans	23		23		—		—		23		23
Interest rate swaps	76		78		38		39		38		39
Other	1		—		—		—		1		—
Total noncurrent regulatory liabilities	$	897	$	899	$	419	$	419	$	478	$	480


(a)	For PPL, these amounts are included in "Other current assets" on the Balance Sheets.


(b)	This liability was recorded as an offset to an intangible asset that was recorded at fair value upon the acquisition of LKE by PPL.