XML 54 R50.htm IDEA: XBRL DOCUMENT v2.4.0.6
Financing Activities (Credit Arrangements and ST Debt) (Details)
In Millions, unless otherwise specified
3 Months Ended 3 Months Ended 3 Months Ended 3 Months Ended 3 Months Ended 3 Months Ended 3 Months Ended 3 Months Ended 3 Months Ended 3 Months Ended 3 Months Ended 3 Months Ended
Mar. 31, 2012
PPL WW [Member]
Syndicated Credit Facility [Member]
GBP (£)
Dec. 31, 2011
PPL WW [Member]
Syndicated Credit Facility [Member]
GBP (£)
Mar. 31, 2012
PPL WW [Member]
Syndicated Credit Facility [Member]
USD Denominated Borrowing [Member]
USD ($)
Mar. 31, 2012
WPD South West [Member]
Syndicated Credit Facility [Member]
GBP (£)
Mar. 31, 2012
WPD South West [Member]
Replaced Credit Facility [Member]
Syndicated Credit Facility [Member]
GBP (£)
Mar. 31, 2012
WPD East Midlands [Member]
Syndicated Credit Facility [Member]
GBP (£)
Dec. 31, 2011
WPD East Midlands [Member]
Syndicated Credit Facility [Member]
GBP (£)
Mar. 31, 2012
WPD West Midlands [Member]
Syndicated Credit Facility [Member]
GBP (£)
Dec. 31, 2011
WPD West Midlands [Member]
Syndicated Credit Facility [Member]
GBP (£)
Mar. 31, 2012
WPD [Member]
USD ($)
Mar. 31, 2012
WPD [Member]
GBP (£)
Dec. 31, 2011
WPD [Member]
GBP (£)
Mar. 31, 2012
WPD [Member]
Uncommitted Credit Facilities [Member]
GBP (£)
Dec. 31, 2011
WPD [Member]
Uncommitted Credit Facilities [Member]
GBP (£)
Mar. 31, 2012
PPL Energy Supply [Member]
USD ($)
Dec. 31, 2011
PPL Energy Supply [Member]
USD ($)
Mar. 31, 2012
PPL Energy Supply [Member]
Commercial Paper [Member]
USD ($)
Apr. 30, 2012
PPL Energy Supply [Member]
Commercial Paper [Member]
USD ($)
Mar. 31, 2012
PPL Energy Supply [Member]
Syndicated Credit Facility [Member]
USD ($)
Dec. 31, 2011
PPL Energy Supply [Member]
Syndicated Credit Facility [Member]
USD ($)
Mar. 31, 2012
PPL Energy Supply [Member]
Letter Of Credit Facility [Member]
USD ($)
Dec. 31, 2011
PPL Energy Supply [Member]
Letter Of Credit Facility [Member]
USD ($)
Mar. 31, 2012
PPL Energy Supply [Member]
Facility Agreement [Member]
USD ($)
Mar. 31, 2012
PPL Energy Supply [Member]
Secured Trading Facility [Member]
USD ($)
Integer
Mar. 31, 2012
PPL Electric [Member]
USD ($)
Dec. 31, 2011
PPL Electric [Member]
USD ($)
Mar. 31, 2012
PPL Electric [Member]
Commercial Paper [Member]
USD ($)
Mar. 31, 2012
PPL Electric [Member]
Syndicated Credit Facility [Member]
USD ($)
Dec. 31, 2011
PPL Electric [Member]
Syndicated Credit Facility [Member]
USD ($)
Mar. 31, 2012
PPL Electric [Member]
Asset Backed Credit Facility [Member]
USD ($)
Dec. 31, 2011
PPL Electric [Member]
Asset Backed Credit Facility [Member]
USD ($)
Apr. 30, 2012
PPL Electric [Member]
Subsequent To Period End Activity [Member]
Syndicated Credit Facility [Member]
USD ($)
Mar. 31, 2012
LGE [Member]
Commercial Paper [Member]
USD ($)
Mar. 31, 2012
LGE [Member]
Syndicated Credit Facility [Member]
USD ($)
Dec. 31, 2011
LGE [Member]
Syndicated Credit Facility [Member]
USD ($)
Mar. 31, 2012
KU [Member]
USD ($)
Dec. 31, 2011
KU [Member]
USD ($)
Mar. 31, 2012
KU [Member]
Commercial Paper [Member]
USD ($)
Mar. 31, 2012
KU [Member]
Syndicated Credit Facility [Member]
USD ($)
Dec. 31, 2011
KU [Member]
Syndicated Credit Facility [Member]
USD ($)
Mar. 31, 2012
KU [Member]
Letter Of Credit Facility [Member]
USD ($)
Dec. 31, 2011
KU [Member]
Letter Of Credit Facility [Member]
USD ($)
Credit Facility [Line Items]                                                                                    
Expiration date Jan. 2013     Jan. 2017 July 2012 Apr. 2016   Apr. 2016                     Oct. 2016   Mar. 2013   June 2017 November 2015       Oct. 2016   July 2012       Oct. 2016         Oct. 2016   Apr. 2014  
Capacity £ 150     £ 245 [1] £ 210 £ 300   £ 300     £ 1,068   £ 73   $ 3,200 [2]       $ 3,000   $ 200       $ 350 [2]     $ 200 [3]   $ 150 [4]   $ 300   $ 400 [2],[5]   $ 598 [2],[5]     $ 400   $ 198  
Borrowed 110 [6],[7] 111 [6] 174               110 [6] 111 [6]                                                            
Letters of credit issued and commercial paper backstop           70 70 71 71   144 144 3 3 778 [2] 630 [2]     634 541 144 89     1 [2] 1 [2]   1 1         0 0 198 [2],[5] 198 [2],[5]   0 0 198 198
Unused capacity 40     245 [1]   230   229   1,300 [8] 814   70   2,422 [2]       2,366   56       349 [2]     199   150 [4]       400 [2],[5]   400 [2],[5]     400   0  
Interest rate on outstanding borrowing 1.458%                                                                                  
Minimum interest coverage ratio allowed under the credit facility       3.0 times                                                                            
Minimum percentage of RAV to total net debt allowed under the credit facility       85.00%                                                                            
Accounts receivable pledged under the credit facility                                                           260 251                      
Unbilled revenue pledged under the credit facility                                                           75 98                      
Available capacity under the asset-backed credit facility                                                           82                        
Potential maximum Facility Agreement capacity                                             500                                      
Secured energy marketing and trading facility capacity                                               800                                    
Automatic renewal term (in years)                                               1                                    
Short-term Debt [Line Items]                                                                                    
Capacity                                 500 750                 200           250         250        
Commercial paper outstanding                                 $ 500                                                  
Weighted-average interest rate on outstanding commercial paper                                 0.47%                                                  
[1] In January 2012, WPD (South West) entered into a new £245 million 5-year syndicated credit facility to replace its existing £210 million 3-year syndicated credit facility that was set to expire in July 2012. Under the facility, WPD (South West) has the ability to make cash borrowings but cannot request the lenders to issue letters of credit. WPD (South West) pays customary commitment fees under this facility and borrowings bear interest at LIBOR-based rates plus a margin. The credit facility contains financial covenants that require WPD (South West) to maintain an interest coverage ratio of not less than 3.0 times consolidated earnings before income taxes, depreciation and amortization and total net debt not in excess of 85% of its RAV, in each case calculated in accordance with the credit facility.
[2] All credit facilities at PPL Energy Supply, PPL Electric, LG&E and KU also apply to PPL on a consolidated basis for financial reporting purposes.
[3] In April 2012, PPL Electric increased the capacity of its syndicated credit facility to $300 million.
[4] PPL Electric participates in an asset-backed commercial paper program through which PPL Electric obtains financing by selling and contributing its eligible accounts receivable and unbilled revenue to a special purpose, wholly owned subsidiary on an ongoing basis. The subsidiary has pledged these assets to secure loans from a commercial paper conduit sponsored by a financial institution.         At March 31, 2012 and December 31, 2011, $260 million and $251 million of accounts receivable and $75 million and $98 million of unbilled revenue were pledged by the subsidiary under the credit agreement related to PPL Electric's and the subsidiary's participation in the asset-backed commercial paper program. Based on the accounts receivable and unbilled revenue pledged at March 31, 2012, the amount available for borrowing under the facility was limited to $82 million. PPL Electric's sale to its subsidiary of the accounts receivable and unbilled revenue is an absolute sale of assets, and PPL Electric does not retain an interest in these assets. However, for financial reporting purposes, the subsidiary's financial results are consolidated in PPL Electric's financial statements. PPL Electric performs certain record-keeping and cash collection functions with respect to the assets in return for a servicing fee from the subsidiary.
[5] All credit facilities at LG&E and KU also apply to LKE on a consolidated basis for financial reporting purposes.
[6] Amounts borrowed are recorded as "Short-term debt" on the Balance Sheets.
[7] The borrowing outstanding at March 31, 2012 was a USD-denominated borrowing of $174 million, which equated to £110 million at the time of borrowing and bore interest at approximately 1.458%.
[8] At March 31, 2012, the unused capacity of the WPD credit facilities was approximately $1.3 billion.