Summary of Significant Accounting Policies

3 Months Ended

Mar. 31, 2021

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

2. Summary of Significant Accounting Policies

(All Registrants)

The following accounting policy disclosures represent updates to Note 1 in each Registrant's 2020 Form 10-K and should be read in conjunction with those disclosures.

Restricted Cash and Cash Equivalents (PPL)

Reconciliation of Cash, Cash Equivalents and Restricted Cash

The following provides a reconciliation of Cash, Cash Equivalents and Restricted Cash reported within the Balance Sheets that sum to the total of the same amounts shown on the Statements of Cash Flows:

	PPL
	March 31, 2021		December 31, 2020
Cash and cash equivalents	$	421	$	442
Restricted cash - current (a)	1		1
Total Cash, Cash Equivalents and Restricted Cash	$	422	$	443

(a)Bank deposits and other cash equivalents that are restricted by agreement or that have been clearly designated for a specific purpose are classified as restricted cash. On the Balance Sheets, the current portion of restricted cash is included in "Other current assets."

Current Expected Credit Losses

(All Registrants)

The following table shows changes in the allowance for credit losses for the three months ended March 31, 2021:

	Balance at Beginning of Period		Charged to Income		Deductions (a)		Balance at End of Period
PPL
Accounts Receivable - Customer and Unbilled Revenue	$	44	$	2	$	1	$	45
Other (b)	28		—		—		28
PPL Electric
Accounts Receivable - Customer and Unbilled Revenue	$	39	$	1	$	—	$	40
Other	1		—		—		1
LKE
Accounts Receivable - Customer and Unbilled Revenue	$	5	$	1	$	1	$	5
Other (b)	27		—		—		27
LG&E
Accounts Receivable - Customer and Unbilled Revenue	$	3	$	—	$	—	$	3
KU
Accounts Receivable - Customer and Unbilled Revenue	$	2	$	1	$	1	$	2

(a)Primarily related to uncollectible accounts receivable written off.

(b)Primarily related to receivables at WKE, which are fully reserved.