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



	PPL				PPL Electric
	March 31, 2019		December 31, 2018		March 31, 2019		December 31, 2018
Current Regulatory Assets:
Gas supply clause	$	12	$	12	$	—	$	—
Smart meter rider	11		11		11		11
Plant outage costs	13		10		—		—
Other	2		3		—		—
Total current regulatory assets (a)	$	38	$	36	$	11	$	11

Noncurrent Regulatory Assets:
Defined benefit plans	$	953	$	963	$	553	$	558
Taxes recoverable through future rates	—		3		—		3
Storm costs	51		56		20		22
Unamortized loss on debt	43		45		20		22
Interest rate swaps	21		20		—		—
Terminated interest rate swaps	85		87		—		—
Accumulated cost of removal of utility plant	200		200		200		200
AROs	288		273		—		—
Act 129 compliance rider	16		19		16		19
Other	9		7		—		—
Total noncurrent regulatory assets	$	1,666	$	1,673	$	809	$	824



	PPL				PPL Electric
	March 31, 2019		December 31, 2018		March 31, 2019		December 31, 2018
Current Regulatory Liabilities:
Generation supply charge	$	24	$	33	$	24	$	33
Transmission service charge	7		3		7		3
Environmental cost recovery	13		16		—		—
Universal service rider	20		27		20		27
Transmission formula rate	—		3		—		3
TCJA customer refund	9		20		4		3
Storm damage expense rider	4		5		4		5
Generation formula rate	8		7		—		—
Other	15		8		1		—
Total current regulatory liabilities	$	100	$	122	$	60	$	74

Noncurrent Regulatory Liabilities:
Accumulated cost of removal of utility plant	$	675	$	674	$	—	$	—
Power purchase agreement - OVEC	57		59		—		—
Net deferred taxes	1,809		1,826		619		629
Defined benefit plans	40		37		7		5
Terminated interest rate swaps	70		72		—		—
TCJA customer refund (b)	41		41		41		41
Other	8		5		—		—
Total noncurrent regulatory liabilities	$	2,700	$	2,714	$	667	$	675



	LKE				LG&E				KU
	March 31, 2019		December 31, 2018		March 31, 2019		December 31, 2018		March 31, 2019		December 31, 2018
Current Regulatory Assets:
Plant outage costs	$	13	$	10	$	9	$	7	$	4	$	3
Gas supply clause	12		12		12		12		—		—
Other	2		3		1		2		1		1
Total current regulatory assets	$	27	$	25	$	22	$	21	$	5	$	4

Noncurrent Regulatory Assets:
Defined benefit plans	$	400	$	405	$	245	$	249	$	155	$	156
Storm costs	31		34		18		20		13		14
Unamortized loss on debt	23		23		15		15		8		8
Interest rate swaps	21		20		21		20		—		—
Terminated interest rate swaps	85		87		50		51		35		36
AROs	288		273		84		75		204		198
Other	9		7		2		1		7		6
Total noncurrent regulatory assets	$	857	$	849	$	435	$	431	$	422	$	418



	LKE				LG&E				KU
	March 31, 2019		December 31, 2018		March 31, 2019		December 31, 2018		March 31, 2019		December 31, 2018
Current Regulatory Liabilities:
Environmental cost recovery	$	13	$	16	$	5	$	6	$	8	$	10
TCJA customer refund	5		17		2		7		3		10
Generation formula rate	8		7		—		—		8		7
Other	14		8		3		4		11		4
Total current regulatory liabilities	$	40	$	48	$	10	$	17	$	30	$	31

Noncurrent Regulatory Liabilities:
Accumulated cost of removal of utility plant	$	675	$	674	$	278	$	279	$	397	395
Power purchase agreement - OVEC	57		59		40		41		17		18
Net deferred taxes	1,190		1,197		554		557		636		640
Defined benefit plans	33		32		—		—		33		32
Terminated interest rate swaps	70		72		35		36		35		36
Other	8		5		4		2		4		3
Total noncurrent regulatory liabilities	$	2,033	$	2,039	$	911	$	915	$	1,122	$	1,124


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

(b)

Relates to amounts owed to PPL Electric customers as a result of the reduced U.S. federal corporate income tax rate as enacted by the TCJA, for the period of January 1, 2018 through June 30, 2018 which is not yet reflected in distribution customer rates. The initial liability was recorded during the second quarter of 2018. The distribution method back to customers of this liability must be proposed to the PUC at the earlier of May 2021 or PPL Electric’s next rate case.