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CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($)
shares in Thousands, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Operating Revenues        
Operating Revenues $ 2,134 $ 1,512 $ 5,612 $ 4,298
Operation        
Fuel 267 195 708 531
Energy purchases 436 167 1,093 524
Other operation and maintenance 678 393 1,671 1,164
Depreciation 312 274 872 810
Taxes, other than income 100 52 230 153
Total Operating Expenses 1,793 1,081 4,574 3,182
Operating Income 341 431 1,038 1,116
Other Income (Expense) - net 10 12 36 25
Interest Expense 136 183 361 810
Income Taxes 41 51 147 455
Income from continuing operations after income taxes 174 209 566 (124)
Income (Loss) from Discontinued Operations (net of income taxes) 0 (2) 0 (1,490)
Net Income (Loss) $ 174 $ 207 $ 566 $ (1,614)
Net Income:        
Diluted (in dollars per share) $ 0.24 $ 0.27 $ 0.77 $ (2.10)
Weighted-Average Shares of Common Stock Outstanding (in thousands)        
Basic (in shares) 736,247 767,733 735,912 768,781
Diluted (in shares) 737,074 769,849 736,679 768,781
Income from Continuing Operations Before Income Taxes $ 215 $ 260 $ 713 $ 331
PPL Electric Utilities Corp [Member]        
Operating Revenues        
Operating Revenues 766 627 2,217 1,769
Operation        
Energy purchases 285 143 759 402
Other operation and maintenance 127 147 415 400
Depreciation 99 105 296 322
Taxes, other than income 39 30 108 88
Total Operating Expenses 550 425 1,578 1,212
Operating Income 216 202 639 557
Other Income (Expense) - net 6 6 19 16
Interest Income from Affiliate 1 2 5 2
Interest Expense 43 39 122 124
Income Taxes 37 45 131 116
Net Income (Loss) [1] 143 126 410 335
Weighted-Average Shares of Common Stock Outstanding (in thousands)        
Income from Continuing Operations Before Income Taxes 180 171 541 451
Louisville Gas And Electric Co [Member]        
Operating Revenues        
Retail and wholesale 433 393 1,313 1,147
Electric revenue from affiliate 3 2 26 18
Operating Revenues 436 395 1,339 1,165
Operation        
Fuel 94 70 265 203
Energy purchases 28 19 162 108
Energy purchases from affiliate 9 8 18 16
Other operation and maintenance 98 97 301 290
Depreciation 74 72 223 206
Taxes, other than income 12 12 36 34
Total Operating Expenses 315 278 1,005 857
Operating Income 121 117 334 308
Other Income (Expense) - net 0 2 3 3
Interest Expense 23 20 64 61
Income Taxes 21 17 49 48
Net Income (Loss) [2] 77 82 224 202
Weighted-Average Shares of Common Stock Outstanding (in thousands)        
Income from Continuing Operations Before Income Taxes 98 99 273 250
Kentucky Utilities Co [Member]        
Operating Revenues        
Retail and wholesale 544 486 1,551 1,358
Electric revenue from affiliate 9 8 18 16
Operating Revenues 553 494 1,569 1,374
Operation        
Fuel 174 125 444 328
Energy purchases 6 5 18 14
Energy purchases from affiliate 3 2 26 18
Other operation and maintenance 115 110 348 336
Depreciation 96 94 289 273
Taxes, other than income 11 10 33 31
Total Operating Expenses 405 346 1,158 1,000
Operating Income 148 148 411 374
Other Income (Expense) - net 2 1 6 5
Interest Expense 31 27 86 81
Income Taxes 24 23 63 57
Net Income (Loss) [3] 95 99 268 241
Weighted-Average Shares of Common Stock Outstanding (in thousands)        
Income from Continuing Operations Before Income Taxes $ 119 $ 122 $ 331 $ 298
[1] Net income equals comprehensive income.
[2] Net income equals comprehensive income.
[3] Net income equals comprehensive income.