Defined Benefits (Tables)

9 Months Ended

Sep. 30, 2020

Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]

Schedule Of Net Periodic Defined Benefit Costs (Credits)

Following are the net periodic defined benefit costs (credits) of the plans sponsored by PPL and its subsidiaries, LKE, and LG&E for the periods ended September 30:

	Pension Benefits
	Three Months								Nine Months
	U.S.				U.K.				U.S.				U.K.
	2020		2019		2020		2019		2020		2019		2020		2019
PPL
Service cost	$	14	$	13	$	22	$	17	$	42	$	38	$	66	$	51
Interest cost	35		41		36		45		109		123		107		140
Expected return on plan assets	(62)		(62)		(155)		(144)		(185)		(184)		(464)		(442)
Amortization of:
Prior service cost	3		2		1		1		7		6		1		1
Actuarial loss	23		15		52		22		67		42		158		69
Net periodic defined benefit costs (credits) before settlements	13		9		(44)		(59)		40		25		(132)		(181)
Settlements (a)	13		—		—		—		13		1		—		—
Net periodic defined benefit costs (credits)	$	26	$	9	$	(44)	$	(59)	$	53	$	26	$	(132)	$	(181)

(a)Due to the amount of lump sum payment distributions from the LKE qualified pension plan, an estimated settlement charge of $13 million for the three and nine months ended September 30, 2020 was incurred. In accordance with existing regulatory accounting treatment, LG&E and KU have primarily maintained the settlement charge in regulatory assets to be amortized over fifteen years. The portion of the settlement attributed to LKE's unregulated operations has been charged to expense.

	Other Postretirement Benefits
	Three Months				Nine Months
	2020		2019		2020		2019
PPL
Service cost	$	2	$	2	$	5	$	4
Interest cost	4		5		14		16
Expected return on plan assets	(5)		(5)		(16)		(14)
Amortization of:
Prior service cost	—		—		1		—
Actuarial loss	—		1		—		1
Net periodic defined benefit costs	$	1	$	3	$	4	$	7
LKE
Service cost	$	1	$	1	$	3	$	3
Interest cost	2		2		6		6
Expected return on plan assets	(2)		(2)		(7)		(6)
Amortization of:
Prior service cost	1		—		1		1
Actuarial gain	(1)		—		(1)		(1)
Net periodic defined benefit costs	$	1	$	1	$	2	$	3

PPL Electric Utilities Corp [Member]

Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]

Allocation of Net Periodic Benefit Costs

For the periods ended September 30, PPL Services allocated the following net periodic defined benefit costs to PPL Electric, and LKE allocated the following net periodic defined benefit costs to LG&E and KU:

	Three Months				Nine Months
	2020		2019		2020		2019
PPL Electric	$	3	$	3	$	9	$	8
LG&E (a)	9		1		14		3
KU	4		—		5		—

(a)    Allocations to LG&E increased in 2020 primarily due to the merger of plans sponsored by LKE and LG&E effective January 1, 2020 into the LG&E and KU Pension Plan.

LG And E And KU Energy LLC [Member]

Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]

Schedule Of Net Periodic Defined Benefit Costs (Credits)

Following are the net periodic defined benefit costs (credits) of the plans sponsored by PPL and its subsidiaries, LKE, and LG&E for the periods ended September 30:

	Pension Benefits
	Three Months				Nine Months
	2020		2019		2020		2019
LKE
Service cost	$	6	$	5	$	18	$	16
Interest cost	14		16		43		49
Expected return on plan assets	(25)		(25)		(75)		(76)
Amortization of:
Prior service cost	2		2		6		6
Actuarial loss (a)	11		7		30		17
Net periodic defined benefit costs (credits) before settlements	8		5		22		12
Settlements (b)	13		—		13		—
Net periodic defined benefit costs (credits) (c)	$	21	$	5	$	35	$	12

(a)    As a result of treatment approved by the KPSC, the difference between actuarial loss calculated in accordance with LKE's accounting policy and actuarial loss calculated using a 15-year amortization period was $3 million and $9 million for the three and nine months ended September 30, 2020 and $2 million and $3 million for the three and nine months ended September 30, 2019. This difference is recorded as a regulatory asset.

(b) Due to the amount of lump sum payment distributions from the LKE qualified pension plan, an estimated settlement charge of $13 million for the three and nine months ended September 30, 2020 was incurred. In accordance with existing regulatory accounting treatment, LG&E and KU have primarily maintained the settlement charge in regulatory assets to be amortized over fifteen years. The portion of the settlement attributed to LKE's unregulated operations has been charged to expense.

(c)     Due to the amount of lump sum payment distributions from the LG&E qualified pension plan, a settlement charge of $5 million for the three and nine months ended September 30, 2019 was incurred. In accordance with existing regulatory accounting treatment, LG&E maintained the settlement charge in regulatory assets. The amount is being amortized over fifteen years.

	Other Postretirement Benefits
	Three Months				Nine Months
	2020		2019		2020		2019
PPL
Service cost	$	2	$	2	$	5	$	4
Interest cost	4		5		14		16
Expected return on plan assets	(5)		(5)		(16)		(14)
Amortization of:
Prior service cost	—		—		1		—
Actuarial loss	—		1		—		1
Net periodic defined benefit costs	$	1	$	3	$	4	$	7
LKE
Service cost	$	1	$	1	$	3	$	3
Interest cost	2		2		6		6
Expected return on plan assets	(2)		(2)		(7)		(6)
Amortization of:
Prior service cost	1		—		1		1
Actuarial gain	(1)		—		(1)		(1)
Net periodic defined benefit costs	$	1	$	1	$	2	$	3

Louisville Gas And Electric Co [Member]

Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]

Schedule Of Net Periodic Defined Benefit Costs (Credits)

Following are the net periodic defined benefit costs (credits) of the plans sponsored by PPL and its subsidiaries, LKE, and LG&E for the periods ended September 30:

	Pension Benefits
	Three Months		Nine Months
	2019 (a)		2019 (a)
LG&E
Service cost	$	—	$	1
Interest cost	2		8
Expected return on plan assets	(5)		(16)
Amortization of:
Prior service cost	1		4
Actuarial loss (b)	4		7
Net periodic defined benefit costs (c)	$	2	$	4

(a)    The pension plans sponsored by LKE and LG&E were merged effective January 1, 2020 into the LG&E and KU Pension Plan, sponsored by LKE.

(b) As a result of treatment approved by the KPSC, the difference between actuarial loss calculated in accordance with LG&E's accounting policy and actuarial loss calculated using a 15-year amortization period was $1 million and $2 million for the three and nine months ended September 30, 2019. This difference is recorded as a regulatory asset.

(c) Due to the amount of lump sum payment distributions from the LG&E qualified pension plan, a settlement charge of $5 million for the three and nine months ended September 30, 2019 was incurred. In accordance with existing regulatory accounting treatment, LG&E maintained the settlement charge in regulatory assets. The amount is being amortized over fifteen years.

Allocation of Net Periodic Benefit Costs

For the periods ended September 30, PPL Services allocated the following net periodic defined benefit costs to PPL Electric, and LKE allocated the following net periodic defined benefit costs to LG&E and KU:

	Three Months				Nine Months
	2020		2019		2020		2019
PPL Electric	$	3	$	3	$	9	$	8
LG&E (a)	9		1		14		3
KU	4		—		5		—

(a)    Allocations to LG&E increased in 2020 primarily due to the merger of plans sponsored by LKE and LG&E effective January 1, 2020 into the LG&E and KU Pension Plan.

Kentucky Utilities Co [Member]

Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]

Allocation of Net Periodic Benefit Costs

For the periods ended September 30, PPL Services allocated the following net periodic defined benefit costs to PPL Electric, and LKE allocated the following net periodic defined benefit costs to LG&E and KU:

	Three Months				Nine Months
	2020		2019		2020		2019
PPL Electric	$	3	$	3	$	9	$	8
LG&E (a)	9		1		14		3
KU	4		—		5		—

(a)    Allocations to LG&E increased in 2020 primarily due to the merger of plans sponsored by LKE and LG&E effective January 1, 2020 into the LG&E and KU Pension Plan.