Retirement and Postemployment Benefits (Tables)

12 Months Ended

Dec. 31, 2018

Defined Benefit Plan Disclosure [Line Items]

Schedule Of Net Periodic Defined Benefit Costs (Credits)

The following table provides the components of net periodic defined benefit costs (credits) for PPL's domestic (U.S.) and WPD's (U.K.) pension and other postretirement benefit plans for the years ended December 31.

	Pension Benefits
	U.S.									U.K.									Other Postretirement Benefits
	2018			2017			2016			2018			2017			2016			2018			2017			2016
Net periodic defined benefit costs (credits):
Service cost	$	62		$	65		$	66		$	82		$	76		$	69		$	7		$	7		$	7
Interest cost	156			168			174			185			178			235			21			23			26
Expected return on plan assets	(249		)	(231		)	(228		)	(587		)	(514		)	(504		)	(23		)	(22		)	(22		)
Amortization of:
Prior service cost (credit)	10			10			8			—			—			—			(1		)	(1		)	—
Actuarial (gain) loss	84			69			50			151			144			138			—			1			1
Net periodic defined benefit costs (credits) prior to settlements and termination benefits	63			81			70			(169		)	(116		)	(62		)	4			8			12
Settlements	—			1			3			—			—			—			—			—			—
Termination benefits	—			1			—			—			—			—			—			—			—
Net periodic defined benefit costs (credits)	$	63		$	83		$	73		$	(169	)	$	(116	)	$	(62	)	$	4		$	8		$	12
Other Changes in Plan Assets and Benefit Obligations Recognized in OCI and Regulatory Assets/Liabilities - Gross:
Settlement	—			(1		)	(3		)	—			—			—			—			—			—
Net (gain) loss	157			27			253			201			346			7			8			(28		)	9
Prior service cost (credit)	1			(1		)	15			13			—			—			—			8			—
Amortization of:
Prior service (cost) credit	(10		)	(10		)	(8		)	—			—			—			1			1			(1		)
Actuarial gain (loss)	(84		)	(69		)	(50		)	(151		)	(144		)	(138		)	—			(1		)	(1		)
Total recognized in OCI and regulatory assets/liabilities (a)	64			(54		)	207			63			202			(131		)	9			(20		)	7
Total recognized in net periodic defined benefit costs, OCI and regulatory assets/liabilities (a)	$	127		$	29		$	280		$	(106	)	$	86		$	(193	)	$	13		$	(12	)	$	19

(a) WPD is not subject to accounting for the effects of certain types of regulation as prescribed by GAAP. As a result, WPD does not record regulatory assets/liabilities.

Schedule of Amounts Recognized in Other Comprehensive Income and Regulatory Assets and Liabilities

For PPL's U.S. pension benefits and for other postretirement benefits, the amounts recognized in OCI and regulatory assets/liabilities for the years ended December 31 were as follows:

	U.S. Pension Benefits									Other Postretirement Benefits
	2018			2017			2016			2018			2017			2016
OCI	$	90		$	(53	)	$	236		$	20		$	(25	)	$	7
Regulatory assets/liabilities	(26		)	(1		)	(29		)	(11		)	5			—
Total recognized in OCI and regulatory assets/liabilities	$	64		$	(54	)	$	207		$	9		$	(20	)	$	7

Schedule of Net Periodic Defined Benefit Costs Included in Income Statement

The following net periodic defined benefit costs (credits) were charged to expense or regulatory assets, excluding amounts charged to construction and other non-expense accounts. The U.K. pension benefits apply to PPL only.

	Pension Benefits
	U.S.						U.K.									Other Postretirement Benefits
	2018		2017		2016		2018			2017			2016			2018			2017		2016
PPL	$	40	$	59	$	53	$	(226	)	$	(151	)	$	(95	)	$	2		$	5	$	7
PPL Electric (a)	4		12		10											(1		)	—		1
LKE (b)	21		28		24											3			5		6
LG&E (b)	4		8		8											2			3		3
KU (a) (b)	2		4		5											1			1		2

(a) PPL Electric and KU do not directly sponsor any defined benefit plans. PPL Electric and KU were allocated these costs of defined benefit plans sponsored by PPL Services (for PPL Electric) and by LKE (for KU), based on their participation in those plans, which management believes are reasonable. KU is also allocated costs of defined benefit plans from LKS for defined benefit plans sponsored by LKE. See Note 14 for additional information on costs allocated to KU from LKS.

(b) As a result of the 2014 Kentucky rate case settlement that became effective July 1, 2015, the difference between net periodic defined benefit costs calculated in accordance with LKE's, LG&E's and KU's pension accounting policy and the net periodic defined benefit costs calculated using a 15 year amortization period for gains and losses is recorded as a regulatory asset. Of the costs charged to Other operation and maintenance, Other Income (Expense) - net or regulatory assets, excluding amounts charged to construction and other non-expense accounts, $3 million for LG&E and $2 million for KU were recorded as regulatory assets in 2018, $4 million for LG&E and $2 million for KU were recorded as regulatory assets in 2017 and $3 million for LG&E and $2 million for KU were recorded as regulatory assets in 2016.

Defined Benefit Plan Assumptions and Impact of One Point Change on Postretirement Plans

The following weighted-average assumptions were used in the valuation of the benefit obligations at December 31. The U.K. pension benefits apply to PPL only.

	Pension Benefits
	U.S.				U.K.				Other Postretirement Benefits
	2018		2017		2018		2017		2018		2017
PPL
Discount rate	4.35	%	3.70	%	2.98	%	2.65	%	4.31	%	3.64	%
Rate of compensation increase	3.79	%	3.78	%	3.50	%	3.50	%	3.76	%	3.75	%
LKE
Discount rate	4.35	%	3.69	%					4.32	%	3.65	%
Rate of compensation increase	3.50	%	3.50	%					3.50	%	3.50	%
LG&E
Discount rate	4.33	%	3.65	%

The following weighted-average assumptions were used to determine the net periodic defined benefit costs for the years ended December 31. The U.K. pension benefits apply to PPL only.

	Pension Benefits
	U.S.						U.K.						Other Postretirement Benefits
	2018		2017		2016		2018		2017		2016		2018		2017		2016
PPL
Discount rate service cost	3.70	%	4.21	%	4.59	%	2.73	%	2.99	%	3.90	%	3.64	%	4.11	%	4.48	%
Discount rate interest cost	3.70	%	4.21	%	4.59	%	2.31	%	2.41	%	3.14	%	3.64	%	4.11	%	4.48	%
Rate of compensation increase	3.78	%	3.95	%	3.93	%	3.50	%	3.50	%	4.00	%	3.75	%	3.92	%	3.91	%
Expected return on plan assets	7.25	%	7.00	%	7.00	%	7.23	%	7.22	%	7.20	%	6.40	%	6.21	%	6.11	%
LKE
Discount rate	3.69	%	4.19	%	4.56	%							3.65	%	4.12	%	4.49	%
Rate of compensation increase	3.50	%	3.50	%	3.50	%							3.50	%	3.50	%	3.50	%
Expected return on plan assets (a)	7.25	%	7.00	%	7.00	%							7.15	%	6.82	%	6.82	%
LG&E
Discount rate	3.65	%	4.13	%	4.49	%
Expected return on plan assets (a)	7.25	%	7.00	%	7.00	%

(a) The expected long-term rates of return for pension and other postretirement benefits are based on management's projections using a best-estimate of expected returns, volatilities and correlations for each asset class. Each plan's specific current and expected asset allocations are also considered in developing a reasonable return assumption.

(PPL and LKE)

The following table provides the assumed health care cost trend rates for the years ended December 31:

	2018		2017		2016
PPL and LKE
Health care cost trend rate assumed for next year
– obligations	6.6	%	6.6	%	7.0	%
– cost	6.6	%	7.0	%	6.8	%
Rate to which the cost trend rate is assumed to decline (the ultimate trend rate)
– obligations	5.0	%	5.0	%	5.0	%
– cost	5.0	%	5.0	%	5.0	%
Year that the rate reaches the ultimate trend rate
– obligations	2023		2022		2022
– cost	2022		2022		2020

Schedule of Funded Status of Defined Benefit Plans

The funded status of PPL's plans at December 31 was as follows:

	Pension Benefits
	U.S.						U.K.						Other Postretirement Benefits
	2018			2017			2018			2017			2018			2017
Change in Benefit Obligation
Benefit Obligation, beginning of period	$	4,288		$	4,079		$	8,219		$	7,383		$	589		$	591
Service cost	62			65			82			76			7			7
Interest cost	156			168			185			178			21			23
Participant contributions	—			—			13			13			13			14
Plan amendments	1			(1		)	12			—			—			8
Actuarial (gain) loss	(352		)	233			(406		)	293			(34		)	4
Settlements	—			(6		)	—			(1		)	—			—
Termination benefits	—			1			—			—			—			—
Gross benefits paid	(272		)	(251		)	(381		)	(345		)	(58		)	(59		)
Federal subsidy	—			—			—			—			—			1
Currency conversion	—			—			(449		)	622			—			—
Benefit Obligation, end of period	3,883			4,288			7,275			8,219			538			589
Change in Plan Assets
Plan assets at fair value, beginning of period	3,488			3,243			8,490			7,211			405			378
Actual return on plan assets	(260		)	437			(30		)	480			(20		)	54
Employer contributions	153			65			188			486			23			15
Participant contributions	—			—			13			13			11			13
Transfer out (a)	—			—			—			—			(65		)	—
Settlements	—			(6		)	—			(1		)	—			—
Gross benefits paid	(272		)	(251		)	(381		)	(345		)	(53		)	(55		)
Currency conversion	—			—			(479		)	646			—			—
Plan assets at fair value, end of period	3,109			3,488			7,801			8,490			301			405
Funded Status, end of period	$	(774	)	$	(800	)	$	526		$	271		$	(237	)	$	(184	)
Amounts recognized in the Balance Sheets consist of:
Noncurrent asset	$	—		$	—		$	535		$	284		$	2		$	2
Current liability	(13		)	(13		)	(1		)	—			(3		)	(3		)
Noncurrent liability	(761		)	(787		)	(8		)	(13		)	(236		)	(183		)
Net amount recognized, end of period	$	(774	)	$	(800	)	$	526		$	271		$	(237	)	$	(184	)

	Pension Benefits
	U.S.				U.K.				Other Postretirement Benefits
	2018		2017		2018		2017		2018		2017
Amounts recognized in AOCI and regulatory assets/liabilities (pre-tax) consist of:
Prior service cost (credit)	$	40	$	49	$	12	$	—	$	10	$	9
Net actuarial (gain) loss	1,207		1,134		2,806		2,755		24		16
Total (b)	$	1,247	$	1,183	$	2,818	$	2,755	$	34	$	25
Total accumulated benefit obligation for defined benefit pension plans	$	3,668	$	4,000	$	6,689	$	7,542

(a) In May 2018, PPL received a favorable private letter ruling from the IRS permitting a transfer of excess funds from the PPL Bargaining Unit Retiree Health Plan VEBA to a new subaccount within the VEBA to be used to pay medical claims of active bargaining unit employees.

(b) WPD is not subject to accounting for the effects of certain types of regulation as prescribed by GAAP and as a result, does not record regulatory assets/liabilities.

For PPL's U.S. pension and other postretirement benefit plans, the amounts recognized in AOCI and regulatory assets/liabilities at December 31 were as follows:

	U.S. Pension Benefits				Other Postretirement Benefits
	2018		2017		2018		2017
AOCI	$	370	$	374	$	21	$	15
Regulatory assets/liabilities	877		809		13		10
Total	$	1,247	$	1,183	$	34	$	25

Schedule of Projected or Accumulated Benefit Obligations In Excess of Plan Assets

The following tables provide information on pension plans where the projected benefit obligation (PBO) or accumulated benefit obligation (ABO) exceed the fair value of plan assets:

	U.S.				U.K.
	PBO in excess of plan assets				PBO in excess of plan assets
	2018		2017		2018		2017
Projected benefit obligation	$	3,883	$	4,288	$	9	$	3,083
Fair value of plan assets	3,109		3,488		—		3,070
	U.S.				U.K.
	ABO in excess of plan assets				ABO in excess of plan assets
	2018		2017		2018		2017
Accumulated benefit obligation	$	3,668	$	4,000	$	9	$	10
Fair value of plan assets	3,109		3,488		—		—

Schedules of Asset Allocation of U.S. Pension Trusts Assets

The asset allocation for the trust and the target allocation by portfolio at December 31 are as follows:

	Percentage of trust assets				2018
	2018 (a)		2017 (a)		Target Asset Allocation (a)
Growth Portfolio	55	%	56	%	55	%
Equity securities	30	%	32	%
Debt securities (b)	15	%	14	%
Alternative investments	10	%	10	%
Immunizing Portfolio	43	%	43	%	43	%
Debt securities (b)	39	%	39	%
Derivatives	4	%	4	%
Liquidity Portfolio	2	%	1	%	2	%
Total	100	%	100	%	100	%

(a) Allocations exclude consideration of a group annuity contract held by the LG&E and KU Retirement Plan.

(b) Includes commingled debt funds, which PPL treats as debt securities for asset allocation purposes.

Schedule of Fair Value of Financial Assets for U.S. Pension Plan Assets

The fair value of net assets in the Master Trust by asset class and level within the fair value hierarchy was:

	December 31, 2018								December 31, 2017
			Fair Value Measurements Using								Fair Value Measurements Using
	Total		Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3
PPL Services Corporation Master Trust
Cash and cash equivalents	$	220	$	220	$	—	$	—	$	301	$	301	$	—	$	—
Equity securities:
U.S. Equity	159		159		—		—		229		229		—		—
U.S. Equity fund measured at NAV (a)	340		—		—		—		364		—		—		—
International equity fund at NAV (a)	466		—		—		—		538		—		—		—
Commingled debt measured at NAV (a)	543		—		—		—		611		—		—		—
Debt securities:
U.S. Treasury and U.S. government sponsored agency	212		212		—		—		186		186		—		—
Corporate	899		—		874		25		883		—		870		13
Other	17		—		17		—		10		—		10		—
Alternative investments:
Real estate measured at NAV (a)	90		—		—		—		109		—		—		—
Private equity measured at NAV (a)	65		—		—		—		80		—		—		—
Hedge funds measured at NAV (a)	175		—		—		—		175		—		—		—

	December 31, 2018									December 31, 2017
				Fair Value Measurements Using									Fair Value Measurements Using
	Total			Level 1		Level 2		Level 3		Total			Level 1		Level 2		Level 3
Derivatives	33			—		33		—		51			—		51		—
Insurance contracts	21			—		—		21		24			—		—		24
PPL Services Corporation Master Trust assets, at fair value	3,240			$	591	$	924	$	46	3,561			$	716	$	931	$	37
Receivables and payables, net (b)	(2		)							72
401(h) accounts restricted for other postretirement benefit obligations	(129		)							(145		)
Total PPL Services Corporation Master Trust pension assets	$	3,109								$	3,488

(a) In accordance with accounting guidance certain investments that are measured at fair value using the net asset value per share (NAV), or its equivalent, practical expedient have not been classified in the fair value hierarchy. The fair value amounts presented in the table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the statement of financial position.

(b) Receivables and payables, net represents amounts for investments sold/purchased but not yet settled along with interest and dividends earned but not yet received.

Reconciliation of U.S. Pension Trust Assets Classified as Level 3 Included in Earnings

A reconciliation of the Master Trust assets classified as Level 3 at December 31, 2018 is as follows:

	Corporate debt			Insurance contracts			Total
Balance at beginning of period	$	13		$	24		$	37
Actual return on plan assets
Relating to assets still held at the reporting date	(2		)	1			(1		)
Relating to assets sold during the period	3			—			3
Purchases, sales and settlements	11			(4		)	7
Balance at end of period	$	25		$	21		$	46

A reconciliation of the Master Trust assets classified as Level 3 at December 31, 2017 is as follows: 

	Corporate debt		Insurance contracts			Total
Balance at beginning of period	$	13	$	27		$	40
Actual return on plan assets
Relating to assets still held at the reporting date	—		1			1
Purchases, sales and settlements	—		(4		)	(4		)
Balance at end of period	$	13	$	24		$	37

Schedules of Target Allocation of U.S. Other Postretirement Benefit Plans VEBA Trust

The asset allocation for the PPL VEBA trusts, excluding LKE, and the target allocation, by asset class, at December 31 are detailed below.

	Percentage of plan assets				Target Asset Allocation
	2018		2017		2018
Asset Class
U.S. Equity securities	40	%	47	%	45	%
Debt securities (a)	56	%	49	%	50	%
Cash and cash equivalents (b)	4	%	4	%	5	%
Total	100	%	100	%	100	%

(a) Includes commingled debt funds and debt securities.

(b) Includes money market funds.

Schedule of Fair Value of Financial Assets for U.S. Postretirement Benefits

The fair value of assets in the U.S. other postretirement benefit plans by asset class and level within the fair value hierarchy was:

	December 31, 2018								December 31, 2017
			Fair Value Measurement Using								Fair Value Measurement Using
	Total		Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3
Money market funds	$	6	$	6	$	—	$	—	$	10	$	10	$	—	$	—
U.S. Equity securities:
Large-cap equity fund measure at NAV (a)	69		—		—		—		123		—		—		—
Commingled debt fund measured at NAV (a)	68		—		—		—		96		—		—		—
Debt securities:
Corporate bonds	28		—		28		—		30		—		30		—
Total VEBA trust assets, at fair value	171		$	6	$	28	$	—	259		$	10	$	30	$	—
Receivables and payables, net (b)	1								1
401(h) account assets	129								145
Total other postretirement benefit plan assets	$	301							$	405

(a) In accordance with accounting guidance certain investments that are measured at fair value using the net asset value per share (NAV), or its equivalent, practical expedient have not been classified in the fair value hierarchy. The fair value amounts presented in the table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the statement of financial position.

(b) Receivables and payables represent amounts for investments sold/purchased but not yet settled along with interest and dividends earned but not yet received.

Schedules of Asset Allocation of U.K. Pension Plan Assets

The asset allocation and target allocation at December 31 of WPD's pension plans are detailed below.

					Target Asset
	Percentage of plan assets				Allocation
	2018		2017		2018
Asset Class
Cash and cash equivalents	2	%	2	%	—	%
Equity securities
U.K.	—	%	2	%	2	%
European (excluding the U.K.)	1	%	1	%	1	%
Asian-Pacific	1	%	1	%	1	%
North American	1	%	1	%	1	%
Emerging markets	1	%	1	%	1	%
Global equities	19	%	16	%	10	%
Global Tactical Asset Allocation	31	%	33	%	41	%
Debt securities (a)	38	%	37	%	38	%
Alternative investments	6	%	6	%	5	%
Total	100	%	100	%	100	%

(a) Includes commingled debt funds.

Schedule of Fair Value of Financial Assets for U.K. Pension Plan Assets

The fair value of assets in the U.K. pension plans by asset class and level within the fair value hierarchy was:

	December 31, 2018								December 31, 2017
			Fair Value Measurement Using								Fair Value Measurement Using
	Total		Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3
Cash and cash equivalents	$	147	$	147	$	—	$	—	$	216	$	216	$	—	$	—
Equity securities measured at NAV (a) :
U.K. companies	27		—		—		—		157		—		—		—
European companies (excluding the U.K.)	76		—		—		—		98		—		—		—
Asian-Pacific companies	49		—		—		—		60		—		—		—
North American companies	105		—		—		—		123		—		—		—
Emerging markets companies	44		—		—		—		62		—		—		—
Global Equities	1,465		—		—		—		1,335		—		—		—
Other	2,437		—		—		—		2,807		—		—		—
Debt Securities:
U.K. corporate bonds	4		—		4		—		3		—		3		—
U.K. gilts	2,933		—		2,933		—		3,137		—		3,137		—
Alternative investments:
Real estate measured at NAV (a)	485		—		—		—		492		—		—		—
Fair value - U.K. pension plans	7,772		$	147	$	2,937	$	—	8,490		$	216	$	3,140	$	—
Receivables and payables, net (b)	29								—
Total U.K. pension assets	$	7,801							$	8,490

(a) In accordance with accounting guidance certain investments that are measured at fair value using the net asset value per share (NAV), or its equivalent, practical expedient have not been classified in the fair value hierarchy. The fair value amounts presented in the table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the statement of financial position.

(b) Receivables and payables, net represents amounts for investments sold/purchased but not yet settled along with interest and dividends earned but not yet received.

Schedule of Expected Cash Flows - U.S. Defined Benefit Plans - Expected Payments and Related Federal Subsidy

The following benefit payments, which reflect expected future service, as appropriate, are expected to be paid by the plans and the following federal subsidy payments are expected to be received by PPL.

			Other Postretirement
	Pension		Benefit Payment		Expected Federal Subsidy
2019	$	274	$	50	$	—
2020	266		50		1
2021	265		49		—
2022	265		48		1
2023	264		46		—
2024-2028	1,290		210		1

Schedule of Expected Cash Flows - U.K. Pension Plans - Expected Payments

The following benefit payments, which reflect expected future service, as appropriate, are expected to be paid by the plans.

	Pension
2019	$	337
2020	340
2021	344
2022	349
2023	352
2024-2028	1,781

Expected Employer Contributions to U.S. Savings Plans

Substantially all employees of PPL's subsidiaries are eligible to participate in deferred savings plans (401(k)s). Employer contributions to the plans were:

	2018		2017		2016
PPL	$	40	$	36	$	35
PPL Electric	6		6		6
LKE	20		18		17
LG&E	6		5		5
KU	5		4		4

PPL Electric Utilities Corp [Member]

Defined Benefit Plan Disclosure [Line Items]

Schedule of Funded Status of Defined Benefit Plans

Allocations to PPL Electric resulted in liabilities at December 31 as follows:

	2018		2017
Pension	$	285	$	246
Other postretirement benefits	120		62

LG And E And KU Energy LLC [Member]

Defined Benefit Plan Disclosure [Line Items]

Schedule Of Net Periodic Defined Benefit Costs (Credits)

The following table provides the components of net periodic defined benefit costs for LKE's pension and other postretirement benefit plans for the years ended December 31.

	Pension Benefits									Other Postretirement Benefits
	2018			2017			2016			2018			2017			2016
Net periodic defined benefit costs (credits):
Service cost	$	25		$	24		$	23		$	4		$	4		$	5
Interest cost	63			68			71			8			9			9
Expected return on plan assets	(102		)	(92		)	(91		)	(9		)	(7		)	(6		)
Amortization of:
Prior service cost	9			8			8			1			1			3
Actuarial (gain) loss (a)	35			31			21			—			—			(1		)
Net periodic defined benefit costs (b)	$	30		$	39		$	32		$	4		$	7		$	10
Other Changes in Plan Assets and Benefit Obligations Recognized in OCI and Regulatory Assets/Liabilities - Gross:
Net (gain) loss	$	40		$	30		$	119		$	1		$	(14	)	$	6
Prior service cost	—			7			—			—			8			—
Amortization of:
Prior service credit	(9		)	(8		)	(8		)	(1		)	(1		)	(3		)
Actuarial gain (loss)	(35		)	(32		)	(21		)	—			—			1
Total recognized in OCI and regulatory assets/liabilities	(4		)	(3		)	90			—			(7		)	4
Total recognized in net periodic defined benefit costs, OCI and regulatory assets/liabilities	$	26		$	36		$	122		$	4		$	—		$	14

(a) As a result of the 2014 Kentucky rate case settlement that became effective July 1, 2015, the difference between actuarial (gain)/loss calculated in accordance with LKE's pension accounting policy and actuarial (gain)/loss calculated using a 15 year amortization period was $11 million in 2018 and 2017 and $6 million in 2016.

(b) Due to the amount of lump sum payment distributions from the LG&E qualified pension plan, a settlement charge of $6 million in 2018 and $5 million in 2017 was incurred. In accordance with existing regulatory accounting treatment, LG&E has maintained the settlement charge in regulatory assets. The amount will be amortized in accordance with existing regulatory practice.

Schedule of Amounts Recognized in Other Comprehensive Income and Regulatory Assets and Liabilities

For LKE's pension and other postretirement benefits, the amounts recognized in OCI and regulatory assets/liabilities for the years ended December 31 were as follows:

	Pension Benefits								Other Postretirement Benefits
	2018			2017			2016		2018			2017			2016
OCI	$	(25	)	$	33		$	42	$	4		$	(2	)	$	2
Regulatory assets/liabilities	21			(36		)	48		(4		)	(5		)	2
Total recognized in OCI and regulatory assets/liabilities	$	(4	)	$	(3	)	$	90	$	—		$	(7	)	$	4

Defined Benefit Plan Assumptions and Impact of One Point Change on Postretirement Plans

The following weighted-average assumptions were used in the valuation of the benefit obligations at December 31. The U.K. pension benefits apply to PPL only.

	Pension Benefits
	U.S.				U.K.				Other Postretirement Benefits
	2018		2017		2018		2017		2018		2017
PPL
Discount rate	4.35	%	3.70	%	2.98	%	2.65	%	4.31	%	3.64	%
Rate of compensation increase	3.79	%	3.78	%	3.50	%	3.50	%	3.76	%	3.75	%
LKE
Discount rate	4.35	%	3.69	%					4.32	%	3.65	%
Rate of compensation increase	3.50	%	3.50	%					3.50	%	3.50	%
LG&E
Discount rate	4.33	%	3.65	%

The following weighted-average assumptions were used to determine the net periodic defined benefit costs for the years ended December 31. The U.K. pension benefits apply to PPL only.

	Pension Benefits
	U.S.						U.K.						Other Postretirement Benefits
	2018		2017		2016		2018		2017		2016		2018		2017		2016
PPL
Discount rate service cost	3.70	%	4.21	%	4.59	%	2.73	%	2.99	%	3.90	%	3.64	%	4.11	%	4.48	%
Discount rate interest cost	3.70	%	4.21	%	4.59	%	2.31	%	2.41	%	3.14	%	3.64	%	4.11	%	4.48	%
Rate of compensation increase	3.78	%	3.95	%	3.93	%	3.50	%	3.50	%	4.00	%	3.75	%	3.92	%	3.91	%
Expected return on plan assets	7.25	%	7.00	%	7.00	%	7.23	%	7.22	%	7.20	%	6.40	%	6.21	%	6.11	%
LKE
Discount rate	3.69	%	4.19	%	4.56	%							3.65	%	4.12	%	4.49	%
Rate of compensation increase	3.50	%	3.50	%	3.50	%							3.50	%	3.50	%	3.50	%
Expected return on plan assets (a)	7.25	%	7.00	%	7.00	%							7.15	%	6.82	%	6.82	%
LG&E
Discount rate	3.65	%	4.13	%	4.49	%
Expected return on plan assets (a)	7.25	%	7.00	%	7.00	%

(a) The expected long-term rates of return for pension and other postretirement benefits are based on management's projections using a best-estimate of expected returns, volatilities and correlations for each asset class. Each plan's specific current and expected asset allocations are also considered in developing a reasonable return assumption.

(PPL and LKE)

The following table provides the assumed health care cost trend rates for the years ended December 31:

	2018		2017		2016
PPL and LKE
Health care cost trend rate assumed for next year
– obligations	6.6	%	6.6	%	7.0	%
– cost	6.6	%	7.0	%	6.8	%
Rate to which the cost trend rate is assumed to decline (the ultimate trend rate)
– obligations	5.0	%	5.0	%	5.0	%
– cost	5.0	%	5.0	%	5.0	%
Year that the rate reaches the ultimate trend rate
– obligations	2023		2022		2022
– cost	2022		2022		2020

Schedule of Funded Status of Defined Benefit Plans

The funded status of LKE's plans at December 31 was as follows:

	Pension Benefits						Other Postretirement Benefits
	2018			2017			2018			2017
Change in Benefit Obligation
Benefit Obligation, beginning of period	$	1,771		$	1,669		$	223		$	220
Service cost	25			24			4			4
Interest cost	63			68			8			9
Participant contributions	—			—			8			8
Plan amendments (a)	—			6			—			8
Actuarial (gain) loss (b)	(168		)	113			(16		)	(7		)
Gross benefits paid (a)	(111		)	(109		)	(22		)	(19		)
Benefit Obligation, end of period	1,580			1,771			205			223

	Pension Benefits						Other Postretirement Benefits
	2018			2017			2018			2017
Change in Plan Assets
Plan assets at fair value, beginning of period	1,402			1,315			116			98
Actual return on plan assets	(106		)	175			(9		)	14
Employer contributions	109			21			24			15
Participant contributions	—			—			8			8
Gross benefits paid	(111		)	(109		)	(22		)	(19		)
Plan assets at fair value, end of period	1,294			1,402			117			116
Funded Status, end of period	$	(286	)	$	(369	)	$	(88	)	$	(107	)
Amounts recognized in the Balance Sheets consist of:
Noncurrent asset	$	—		$	—		$	2		$	2
Current liability	(4		)	(4		)	(3		)	(3		)
Noncurrent liability	(282		)	(365		)	(87		)	(106		)
Net amount recognized, end of period	$	(286	)	$	(369	)	$	(88	)	$	(107	)
Amounts recognized in AOCI and regulatory assets/liabilities (pre-tax) consist of:
Prior service cost	$	35		$	44		$	12		$	13
Net actuarial (gain) loss	439			434			(25		)	(26		)
Total	$	474		$	478		$	(13	)	$	(13	)
Total accumulated benefit obligation for defined benefit pension plans	$	1,467		$	1,616

(a) The pension plans were amended in December 2015 to allow active participants and terminated vested participants who had not previously elected a form of payment of their benefit to elect to receive their accrued pension benefit as a one-time lump-sum payment effective January 1, 2016. Gross benefits paid by the plans include lump-sum cash payments made to participants during 2018 and 2017 of $52 million and $50 million in connection with these offerings.

(b) The actuarial (gain) loss for all pension plans in 2018 and 2017 was primarily related to change in the discount rate used to measure the benefit obligations of those plans.

The amounts recognized in AOCI and regulatory assets/liabilities at December 31 were as follows:

	Pension Benefits				Other Postretirement Benefits
	2018		2017		2018			2017
AOCI	$	118	$	144	$	10		$	6
Regulatory assets/liabilities	356		334		(23		)	(19		)
Total	$	474	$	478	$	(13	)	$	(13	)

Schedule of Projected or Accumulated Benefit Obligations In Excess of Plan Assets

The following tables provide information on pension plans where the projected benefit obligation (PBO) or accumulated benefit obligations (ABO) exceed the fair value of plan assets: 

	PBO in excess of plan assets
	2018		2017
Projected benefit obligation	$	1,580	$	1,771
Fair value of plan assets	1,294		1,402
	ABO in excess of plan assets
	2018		2017
Accumulated benefit obligation	$	1,467	$	1,616
Fair value of plan assets	1,294		1,402

Schedules of Asset Allocation of U.S. Pension Trusts Assets

The asset allocation for the trust and the target allocation by portfolio at December 31 are as follows:

	Percentage of trust assets				2018
	2018 (a)		2017 (a)		Target Asset Allocation (a)
Growth Portfolio	55	%	56	%	55	%
Equity securities	30	%	32	%
Debt securities (b)	15	%	14	%
Alternative investments	10	%	10	%
Immunizing Portfolio	43	%	43	%	43	%
Debt securities (b)	39	%	39	%
Derivatives	4	%	4	%
Liquidity Portfolio	2	%	1	%	2	%
Total	100	%	100	%	100	%

(a) Allocations exclude consideration of a group annuity contract held by the LG&E and KU Retirement Plan.

(b) Includes commingled debt funds, which PPL treats as debt securities for asset allocation purposes.

Schedule of Fair Value of Financial Assets for U.S. Pension Plan Assets

The fair value of net assets in the Master Trust by asset class and level within the fair value hierarchy was:

	December 31, 2018								December 31, 2017
			Fair Value Measurements Using								Fair Value Measurements Using
	Total		Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3
PPL Services Corporation Master Trust
Cash and cash equivalents	$	220	$	220	$	—	$	—	$	301	$	301	$	—	$	—
Equity securities:
U.S. Equity	159		159		—		—		229		229		—		—
U.S. Equity fund measured at NAV (a)	340		—		—		—		364		—		—		—
International equity fund at NAV (a)	466		—		—		—		538		—		—		—
Commingled debt measured at NAV (a)	543		—		—		—		611		—		—		—
Debt securities:
U.S. Treasury and U.S. government sponsored agency	212		212		—		—		186		186		—		—
Corporate	899		—		874		25		883		—		870		13
Other	17		—		17		—		10		—		10		—
Alternative investments:
Real estate measured at NAV (a)	90		—		—		—		109		—		—		—
Private equity measured at NAV (a)	65		—		—		—		80		—		—		—
Hedge funds measured at NAV (a)	175		—		—		—		175		—		—		—

	December 31, 2018									December 31, 2017
				Fair Value Measurements Using									Fair Value Measurements Using
	Total			Level 1		Level 2		Level 3		Total			Level 1		Level 2		Level 3
Derivatives	33			—		33		—		51			—		51		—
Insurance contracts	21			—		—		21		24			—		—		24
PPL Services Corporation Master Trust assets, at fair value	3,240			$	591	$	924	$	46	3,561			$	716	$	931	$	37
Receivables and payables, net (b)	(2		)							72
401(h) accounts restricted for other postretirement benefit obligations	(129		)							(145		)
Total PPL Services Corporation Master Trust pension assets	$	3,109								$	3,488

(a) In accordance with accounting guidance certain investments that are measured at fair value using the net asset value per share (NAV), or its equivalent, practical expedient have not been classified in the fair value hierarchy. The fair value amounts presented in the table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the statement of financial position.

(b) Receivables and payables, net represents amounts for investments sold/purchased but not yet settled along with interest and dividends earned but not yet received.

Reconciliation of U.S. Pension Trust Assets Classified as Level 3 Included in Earnings

A reconciliation of the Master Trust assets classified as Level 3 at December 31, 2018 is as follows:

	Corporate debt			Insurance contracts			Total
Balance at beginning of period	$	13		$	24		$	37
Actual return on plan assets
Relating to assets still held at the reporting date	(2		)	1			(1		)
Relating to assets sold during the period	3			—			3
Purchases, sales and settlements	11			(4		)	7
Balance at end of period	$	25		$	21		$	46

A reconciliation of the Master Trust assets classified as Level 3 at December 31, 2017 is as follows: 

	Corporate debt		Insurance contracts			Total
Balance at beginning of period	$	13	$	27		$	40
Actual return on plan assets
Relating to assets still held at the reporting date	—		1			1
Purchases, sales and settlements	—		(4		)	(4		)
Balance at end of period	$	13	$	24		$	37

Schedule of Fair Value of Financial Assets for U.S. Postretirement Benefits

The fair value of assets in the U.S. other postretirement benefit plans by asset class and level within the fair value hierarchy was:

	December 31, 2018								December 31, 2017
			Fair Value Measurement Using								Fair Value Measurement Using
	Total		Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3
Money market funds	$	6	$	6	$	—	$	—	$	10	$	10	$	—	$	—
U.S. Equity securities:
Large-cap equity fund measure at NAV (a)	69		—		—		—		123		—		—		—
Commingled debt fund measured at NAV (a)	68		—		—		—		96		—		—		—
Debt securities:
Corporate bonds	28		—		28		—		30		—		30		—
Total VEBA trust assets, at fair value	171		$	6	$	28	$	—	259		$	10	$	30	$	—
Receivables and payables, net (b)	1								1
401(h) account assets	129								145
Total other postretirement benefit plan assets	$	301							$	405

(a) In accordance with accounting guidance certain investments that are measured at fair value using the net asset value per share (NAV), or its equivalent, practical expedient have not been classified in the fair value hierarchy. The fair value amounts presented in the table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the statement of financial position.

(b) Receivables and payables represent amounts for investments sold/purchased but not yet settled along with interest and dividends earned but not yet received.

Schedule of Expected Cash Flows - U.S. Defined Benefit Plans - Expected Payments and Related Federal Subsidy

The following benefit payments, which reflect expected future service, as appropriate, are expected to be paid by the plans and the following federal subsidy payments are expected to be received by LKE.

			Other Postretirement
	Pension		Benefit Payment		Expected Federal Subsidy
2019	$	112	$	15	$	—
2020	112		15		—
2021	113		16		—
2022	113		16		1
2023	112		16		—
2024-2028	547		78		1

Louisville Gas And Electric Co [Member]

Defined Benefit Plan Disclosure [Line Items]

Schedule Of Net Periodic Defined Benefit Costs (Credits)

The following table provides the components of net periodic defined benefit costs for LG&E's pension benefit plan for the years ended December 31.

	Pension Benefits
	2018			2017			2016
Net periodic defined benefit costs (credits):
Service cost	$	1		$	1		$	1
Interest cost	12			13			15
Expected return on plan assets	(22		)	(22		)	(21		)
Amortization of:
Prior service cost	5			5			4
Actuarial loss (a)	7			9			7
Net periodic defined benefit costs (b)	$	3		$	6		$	6
Other Changes in Plan Assets and Benefit Obligations Recognized in Regulatory Assets - Gross:
Net (gain) loss	$	22		$	(9	)	$	22
Prior service cost	—			7			—
Amortization of:
Prior service credit	(5		)	(5		)	(4		)
Actuarial gain	(7		)	(9		)	(7		)
Total recognized in regulatory assets/liabilities	10			(16		)	11
Total recognized in net periodic defined benefit costs and regulatory assets	$	13		$	(10	)	$	17

(a) As a result of the 2014 Kentucky rate case settlement that became effective July 1, 2015, the difference between actuarial (gain)/loss calculated in accordance with LG&E's pension accounting policy and actuarial (gain)/loss calculated using a 15 year amortization period was $2 million in 2018, $7 million in 2017 and $5 million in 2016.

(b) Due to the amount of lump sum payment distributions from the LG&E qualified pension plan, a settlement charge of $6 million in 2018 and $5 million in 2017 was incurred. In accordance with existing regulatory accounting treatment, LG&E has maintained the settlement charge in regulatory assets. The amount will be amortized in accordance with existing regulatory practice.

Schedule of Net Periodic Defined Benefit Costs Included in Income Statement

In the table above, LG&E amounts include costs for the specific plans it sponsors and the following allocated costs of defined benefit plans sponsored by LKE. LG&E is also allocated costs of defined benefit plans from LKS for defined benefit plans sponsored by LKE. See Note 14 for additional information on costs allocated to LG&E from LKS. These allocations are based on LG&E's participation in those plans, which management believes are reasonable:

	Pension Benefits						Other Postretirement Benefits
	2018		2017		2016		2018		2017		2016
LG&E Non-Union Only	$	2	$	5	$	4	$	2	$	3	$	3

Defined Benefit Plan Assumptions and Impact of One Point Change on Postretirement Plans

The following weighted-average assumptions were used in the valuation of the benefit obligations at December 31. The U.K. pension benefits apply to PPL only.

	Pension Benefits
	U.S.				U.K.				Other Postretirement Benefits
	2018		2017		2018		2017		2018		2017
PPL
Discount rate	4.35	%	3.70	%	2.98	%	2.65	%	4.31	%	3.64	%
Rate of compensation increase	3.79	%	3.78	%	3.50	%	3.50	%	3.76	%	3.75	%
LKE
Discount rate	4.35	%	3.69	%					4.32	%	3.65	%
Rate of compensation increase	3.50	%	3.50	%					3.50	%	3.50	%
LG&E
Discount rate	4.33	%	3.65	%

The following weighted-average assumptions were used to determine the net periodic defined benefit costs for the years ended December 31. The U.K. pension benefits apply to PPL only.

	Pension Benefits
	U.S.						U.K.						Other Postretirement Benefits
	2018		2017		2016		2018		2017		2016		2018		2017		2016
PPL
Discount rate service cost	3.70	%	4.21	%	4.59	%	2.73	%	2.99	%	3.90	%	3.64	%	4.11	%	4.48	%
Discount rate interest cost	3.70	%	4.21	%	4.59	%	2.31	%	2.41	%	3.14	%	3.64	%	4.11	%	4.48	%
Rate of compensation increase	3.78	%	3.95	%	3.93	%	3.50	%	3.50	%	4.00	%	3.75	%	3.92	%	3.91	%
Expected return on plan assets	7.25	%	7.00	%	7.00	%	7.23	%	7.22	%	7.20	%	6.40	%	6.21	%	6.11	%
LKE
Discount rate	3.69	%	4.19	%	4.56	%							3.65	%	4.12	%	4.49	%
Rate of compensation increase	3.50	%	3.50	%	3.50	%							3.50	%	3.50	%	3.50	%
Expected return on plan assets (a)	7.25	%	7.00	%	7.00	%							7.15	%	6.82	%	6.82	%
LG&E
Discount rate	3.65	%	4.13	%	4.49	%
Expected return on plan assets (a)	7.25	%	7.00	%	7.00	%

(a) The expected long-term rates of return for pension and other postretirement benefits are based on management's projections using a best-estimate of expected returns, volatilities and correlations for each asset class. Each plan's specific current and expected asset allocations are also considered in developing a reasonable return assumption.

Schedule of Funded Status of Defined Benefit Plans

Allocations to LG&E resulted in liabilities at December 31 as follows:

	2018		2017
Pension	$	7	$	44
Other postretirement benefits	65		74

(LG&E)

The funded status of LG&E's plan at December 31, was as follows:

	Pension Benefits
	2018			2017
Change in Benefit Obligation
Benefit Obligation, beginning of period	$	326		$	329
Service cost	1			1
Interest cost	12			13
Plan amendments (a)	—			6
Actuarial (gain) loss	(24		)	11
Gross benefits paid (a)	(30		)	(34		)
Benefit Obligation, end of period	285			326
Change in Plan Assets
Plan assets at fair value, beginning of period	325			318
Actual return on plan assets	(24		)	41
Employer contributions	10			—
Gross benefits paid	(30		)	(34		)
Plan assets at fair value, end of period	281			325
Funded Status, end of period	$	(4	)	$	(1	)
Amounts recognized in the Balance Sheets consist of:
Noncurrent liability	$	(4	)	$	(1	)
Net amount recognized, end of period	$	(4	)	$	(1	)
Amounts recognized in regulatory assets (pre-tax) consist of:
Prior service cost	$	22		$	27
Net actuarial loss	107			92
Total	$	129		$	119
Total accumulated benefit obligation for defined benefit pension plan	$	285		$	326

(a) The pension plan was amended in December 2015 to allow active participants and terminated vested participants who had not previously elected a form of payment of their benefit to elect to receive their accrued pension benefit as a one-time lump-sum payment effective January 1, 2016. Gross benefits paid by the plan include lump-sum cash payments made to participants during 2018 and 2017 of$16 million and $19 million in connection with this offering.

Schedules of Asset Allocation of U.S. Pension Trusts Assets

The asset allocation for the trust and the target allocation by portfolio at December 31 are as follows:

	Percentage of trust assets				2018
	2018 (a)		2017 (a)		Target Asset Allocation (a)
Growth Portfolio	55	%	56	%	55	%
Equity securities	30	%	32	%
Debt securities (b)	15	%	14	%
Alternative investments	10	%	10	%
Immunizing Portfolio	43	%	43	%	43	%
Debt securities (b)	39	%	39	%
Derivatives	4	%	4	%
Liquidity Portfolio	2	%	1	%	2	%
Total	100	%	100	%	100	%

(a) Allocations exclude consideration of a group annuity contract held by the LG&E and KU Retirement Plan.

(b) Includes commingled debt funds, which PPL treats as debt securities for asset allocation purposes.

Schedule of Fair Value of Financial Assets for U.S. Pension Plan Assets

The fair value of net assets in the Master Trust by asset class and level within the fair value hierarchy was:

	December 31, 2018								December 31, 2017
			Fair Value Measurements Using								Fair Value Measurements Using
	Total		Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3
PPL Services Corporation Master Trust
Cash and cash equivalents	$	220	$	220	$	—	$	—	$	301	$	301	$	—	$	—
Equity securities:
U.S. Equity	159		159		—		—		229		229		—		—
U.S. Equity fund measured at NAV (a)	340		—		—		—		364		—		—		—
International equity fund at NAV (a)	466		—		—		—		538		—		—		—
Commingled debt measured at NAV (a)	543		—		—		—		611		—		—		—
Debt securities:
U.S. Treasury and U.S. government sponsored agency	212		212		—		—		186		186		—		—
Corporate	899		—		874		25		883		—		870		13
Other	17		—		17		—		10		—		10		—
Alternative investments:
Real estate measured at NAV (a)	90		—		—		—		109		—		—		—
Private equity measured at NAV (a)	65		—		—		—		80		—		—		—
Hedge funds measured at NAV (a)	175		—		—		—		175		—		—		—

	December 31, 2018									December 31, 2017
				Fair Value Measurements Using									Fair Value Measurements Using
	Total			Level 1		Level 2		Level 3		Total			Level 1		Level 2		Level 3
Derivatives	33			—		33		—		51			—		51		—
Insurance contracts	21			—		—		21		24			—		—		24
PPL Services Corporation Master Trust assets, at fair value	3,240			$	591	$	924	$	46	3,561			$	716	$	931	$	37
Receivables and payables, net (b)	(2		)							72
401(h) accounts restricted for other postretirement benefit obligations	(129		)							(145		)
Total PPL Services Corporation Master Trust pension assets	$	3,109								$	3,488

(a) In accordance with accounting guidance certain investments that are measured at fair value using the net asset value per share (NAV), or its equivalent, practical expedient have not been classified in the fair value hierarchy. The fair value amounts presented in the table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the statement of financial position.

(b) Receivables and payables, net represents amounts for investments sold/purchased but not yet settled along with interest and dividends earned but not yet received.

Reconciliation of U.S. Pension Trust Assets Classified as Level 3 Included in Earnings

A reconciliation of the Master Trust assets classified as Level 3 at December 31, 2018 is as follows:

	Corporate debt			Insurance contracts			Total
Balance at beginning of period	$	13		$	24		$	37
Actual return on plan assets
Relating to assets still held at the reporting date	(2		)	1			(1		)
Relating to assets sold during the period	3			—			3
Purchases, sales and settlements	11			(4		)	7
Balance at end of period	$	25		$	21		$	46

A reconciliation of the Master Trust assets classified as Level 3 at December 31, 2017 is as follows: 

	Corporate debt		Insurance contracts			Total
Balance at beginning of period	$	13	$	27		$	40
Actual return on plan assets
Relating to assets still held at the reporting date	—		1			1
Purchases, sales and settlements	—		(4		)	(4		)
Balance at end of period	$	13	$	24		$	37

Schedule of Expected Cash Flows - U.S. Defined Benefit Plans - Expected Payments and Related Federal Subsidy

The following benefit payments, which reflect expected future service, as appropriate, are expected to be paid by the plan.

	Pension
2019	$	25
2020	25
2021	24
2022	23
2023	22
2024-2028	95

Kentucky Utilities Co [Member]

Defined Benefit Plan Disclosure [Line Items]

Schedule of Funded Status of Defined Benefit Plans

Allocations to KU resulted in liabilities at December 31 as follows.

	2018		2017
Pension	$	1	$	36
Other postretirement benefits	25		32