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Available-for-Sale Securities
 9 Months Ended
Sep. 30, 2012
Available-for-Sale Securities [Line Items]  
Available-for-Sale Securities

17. Available-for-Sale Securities

 

(PPL, PPL Energy Supply, LKE and LG&E)

 

Certain short-term investments, securities held by the NDT funds and auction rate securities are classified as available-for-sale. Available-for-sale securities are carried on the Balance Sheets at fair value. Unrealized gains and losses on these securities are reported, net of tax, in OCI or are recognized currently in earnings when a decline in fair value is determined to be other-than-temporary. The specific identification method is used to calculate realized gains and losses.

 

(PPL and PPL Energy Supply)

 

The following table shows the amortized cost, the gross unrealized gains and losses recorded in AOCI, and the fair value of available-for-sale securities.

       September 30, 2012 December 31, 2011
          Gross Gross      Gross Gross  
       Amortized   Unrealized   Unrealized    Amortized  Unrealized  Unrealized   
       Cost Gains Losses Fair Value  Cost  Gains Losses Fair Value
PPL                        
 NDT funds:                        
   Cash and cash equivalents $ 12       $ 12 $ 12       $ 12
   Equity securities:                         
    U.S. large-cap   219 $ 193      412   211 $ 146      357
    U.S. mid/small-cap   30   29      59   29   23      52
   Debt securities:                        
    U.S. Treasury   85   10      95   76   10      86
    U.S. government sponsored                        
     agency   8   1      9   9   1      10
    Municipality   79   5 $ 1   83   80   4 $ 1   83
    Investment-grade corporate   36   4      40   35   3      38
    Other   2         2   2         2
   Receivables/payables, net   (1)         (1)            
   Total NDT funds   470   242   1   711   454   187   1   640
 Auction rate securities   20      1   19   25      1   24
 Total  $ 490 $ 242 $ 2 $ 730 $ 479 $ 187 $ 2 $ 664
                              
PPL Energy Supply                        
 NDT funds:                        
   Cash and cash equivalents $ 12       $ 12 $ 12       $ 12
   Equity securities:                         
    U.S. large-cap   219 $ 193      412   211 $ 146      357
    U.S. mid/small-cap   30   29      59   29   23      52
   Debt securities:                        
    U.S. Treasury   85   10      95   76   10      86
    U.S. government sponsored                        
     agency   8   1      9   9   1      10
    Municipality   79   5 $ 1   83   80   4 $ 1   83
    Investment-grade corporate   36   4      40   35   3      38
    Other   2         2   2         2
   Receivables/payables, net   (1)         (1)            
   Total NDT funds   470   242   1   711   454   187   1   640
 Auction rate securities   17      1   16   20      1   19
 Total $ 487 $ 242 $ 2 $ 727 $ 474 $ 187 $ 2 $ 659

There were no securities with credit losses at September 30, 2012 and December 31, 2011.

 

The following table shows the scheduled maturity dates of debt securities held at September 30, 2012.

   Maturity Maturity Maturity Maturity   
    Less Than1-55-10in Excess  
   1 YearYearsYearsof 10 YearsTotal
PPL               
Amortized cost $ 11 $ 81 $ 61 $ 77 $ 230
Fair value   11   85   67   85   248
                 
PPL Energy Supply               
Amortized cost $ 11 $ 81 $ 61 $ 74 $ 227
Fair value   11   85   67   82   245

The following table shows proceeds from and realized gains and losses on sales of available-for-sale securities for the periods ended September 30.

   Three Months Nine Months
   2012 2011 2012 2011
PPL            
Proceeds from sales of NDT securities (a) $ 23 $ 34 $ 102 $ 134
Other proceeds from sales         5   163
Gross realized gains (b)   2   3   15   26
Gross realized losses (b)   2   4   8   15
              
PPL Energy Supply            
Proceeds from sales of NDT securities (a) $ 23 $ 34 $ 102 $ 134
Other proceeds from sales         3   
Gross realized gains (b)   2   3   15   26
Gross realized losses (b)   2   4   8   15

(a)       These proceeds are used to pay income taxes and fees related to managing the trust. Remaining proceeds are reinvested in the trust.

(b)       Excludes the impact of other-than-temporary impairment charges recognized in the Statements of Income.

 

(PPL, LKE and LG&E)

 

At December 31, 2010, LG&E held $163 million aggregate principal amount of tax-exempt revenue bonds issued by Louisville/Jefferson County, Kentucky on behalf of LG&E that were purchased from the remarketing agent in 2008. During the nine months ended September 30, 2011, LG&E received $163 million for its investments in these bonds when they were remarketed to unaffiliated investors. No realized or unrealized gains (losses) were recorded on these securities, as the difference between carrying value and fair value was not significant.

PPL Energy Supply LLC [Member]
  
Available-for-Sale Securities [Line Items]  
Available-for-Sale Securities

17. Available-for-Sale Securities

 

(PPL, PPL Energy Supply, LKE and LG&E)

 

Certain short-term investments, securities held by the NDT funds and auction rate securities are classified as available-for-sale. Available-for-sale securities are carried on the Balance Sheets at fair value. Unrealized gains and losses on these securities are reported, net of tax, in OCI or are recognized currently in earnings when a decline in fair value is determined to be other-than-temporary. The specific identification method is used to calculate realized gains and losses.

 

(PPL and PPL Energy Supply)

 

The following table shows the amortized cost, the gross unrealized gains and losses recorded in AOCI, and the fair value of available-for-sale securities.

       September 30, 2012 December 31, 2011
          Gross Gross      Gross Gross  
       Amortized   Unrealized   Unrealized    Amortized  Unrealized  Unrealized   
       Cost Gains Losses Fair Value  Cost  Gains Losses Fair Value
PPL                        
 NDT funds:                        
   Cash and cash equivalents $ 12       $ 12 $ 12       $ 12
   Equity securities:                         
    U.S. large-cap   219 $ 193      412   211 $ 146      357
    U.S. mid/small-cap   30   29      59   29   23      52
   Debt securities:                        
    U.S. Treasury   85   10      95   76   10      86
    U.S. government sponsored                        
     agency   8   1      9   9   1      10
    Municipality   79   5 $ 1   83   80   4 $ 1   83
    Investment-grade corporate   36   4      40   35   3      38
    Other   2         2   2         2
   Receivables/payables, net   (1)         (1)            
   Total NDT funds   470   242   1   711   454   187   1   640
 Auction rate securities   20      1   19   25      1   24
 Total  $ 490 $ 242 $ 2 $ 730 $ 479 $ 187 $ 2 $ 664
                              
PPL Energy Supply                        
 NDT funds:                        
   Cash and cash equivalents $ 12       $ 12 $ 12       $ 12
   Equity securities:                         
    U.S. large-cap   219 $ 193      412   211 $ 146      357
    U.S. mid/small-cap   30   29      59   29   23      52
   Debt securities:                        
    U.S. Treasury   85   10      95   76   10      86
    U.S. government sponsored                        
     agency   8   1      9   9   1      10
    Municipality   79   5 $ 1   83   80   4 $ 1   83
    Investment-grade corporate   36   4      40   35   3      38
    Other   2         2   2         2
   Receivables/payables, net   (1)         (1)            
   Total NDT funds   470   242   1   711   454   187   1   640
 Auction rate securities   17      1   16   20      1   19
 Total $ 487 $ 242 $ 2 $ 727 $ 474 $ 187 $ 2 $ 659

There were no securities with credit losses at September 30, 2012 and December 31, 2011.

 

The following table shows the scheduled maturity dates of debt securities held at September 30, 2012.

   Maturity Maturity Maturity Maturity   
    Less Than1-55-10in Excess  
   1 YearYearsYearsof 10 YearsTotal
PPL               
Amortized cost $ 11 $ 81 $ 61 $ 77 $ 230
Fair value   11   85   67   85   248
                 
PPL Energy Supply               
Amortized cost $ 11 $ 81 $ 61 $ 74 $ 227
Fair value   11   85   67   82   245

The following table shows proceeds from and realized gains and losses on sales of available-for-sale securities for the periods ended September 30.

   Three Months Nine Months
   2012 2011 2012 2011
PPL            
Proceeds from sales of NDT securities (a) $ 23 $ 34 $ 102 $ 134
Other proceeds from sales         5   163
Gross realized gains (b)   2   3   15   26
Gross realized losses (b)   2   4   8   15
              
PPL Energy Supply            
Proceeds from sales of NDT securities (a) $ 23 $ 34 $ 102 $ 134
Other proceeds from sales         3   
Gross realized gains (b)   2   3   15   26
Gross realized losses (b)   2   4   8   15

(a)       These proceeds are used to pay income taxes and fees related to managing the trust. Remaining proceeds are reinvested in the trust.

(b)       Excludes the impact of other-than-temporary impairment charges recognized in the Statements of Income.

 

(PPL, LKE and LG&E)

 

At December 31, 2010, LG&E held $163 million aggregate principal amount of tax-exempt revenue bonds issued by Louisville/Jefferson County, Kentucky on behalf of LG&E that were purchased from the remarketing agent in 2008. During the nine months ended September 30, 2011, LG&E received $163 million for its investments in these bonds when they were remarketed to unaffiliated investors. No realized or unrealized gains (losses) were recorded on these securities, as the difference between carrying value and fair value was not significant.

LG And E And KU Energy LLC [Member]
  
Available-for-Sale Securities [Line Items]  
Available-for-Sale Securities

17. Available-for-Sale Securities

 

(PPL, PPL Energy Supply, LKE and LG&E)

 

Certain short-term investments, securities held by the NDT funds and auction rate securities are classified as available-for-sale. Available-for-sale securities are carried on the Balance Sheets at fair value. Unrealized gains and losses on these securities are reported, net of tax, in OCI or are recognized currently in earnings when a decline in fair value is determined to be other-than-temporary. The specific identification method is used to calculate realized gains and losses.

 

(PPL and PPL Energy Supply)

 

The following table shows the amortized cost, the gross unrealized gains and losses recorded in AOCI, and the fair value of available-for-sale securities.

       September 30, 2012 December 31, 2011
          Gross Gross      Gross Gross  
       Amortized   Unrealized   Unrealized    Amortized  Unrealized  Unrealized   
       Cost Gains Losses Fair Value  Cost  Gains Losses Fair Value
PPL                        
 NDT funds:                        
   Cash and cash equivalents $ 12       $ 12 $ 12       $ 12
   Equity securities:                         
    U.S. large-cap   219 $ 193      412   211 $ 146      357
    U.S. mid/small-cap   30   29      59   29   23      52
   Debt securities:                        
    U.S. Treasury   85   10      95   76   10      86
    U.S. government sponsored                        
     agency   8   1      9   9   1      10
    Municipality   79   5 $ 1   83   80   4 $ 1   83
    Investment-grade corporate   36   4      40   35   3      38
    Other   2         2   2         2
   Receivables/payables, net   (1)         (1)            
   Total NDT funds   470   242   1   711   454   187   1   640
 Auction rate securities   20      1   19   25      1   24
 Total  $ 490 $ 242 $ 2 $ 730 $ 479 $ 187 $ 2 $ 664
                              
PPL Energy Supply                        
 NDT funds:                        
   Cash and cash equivalents $ 12       $ 12 $ 12       $ 12
   Equity securities:                         
    U.S. large-cap   219 $ 193      412   211 $ 146      357
    U.S. mid/small-cap   30   29      59   29   23      52
   Debt securities:                        
    U.S. Treasury   85   10      95   76   10      86
    U.S. government sponsored                        
     agency   8   1      9   9   1      10
    Municipality   79   5 $ 1   83   80   4 $ 1   83
    Investment-grade corporate   36   4      40   35   3      38
    Other   2         2   2         2
   Receivables/payables, net   (1)         (1)            
   Total NDT funds   470   242   1   711   454   187   1   640
 Auction rate securities   17      1   16   20      1   19
 Total $ 487 $ 242 $ 2 $ 727 $ 474 $ 187 $ 2 $ 659

There were no securities with credit losses at September 30, 2012 and December 31, 2011.

 

The following table shows the scheduled maturity dates of debt securities held at September 30, 2012.

   Maturity Maturity Maturity Maturity   
    Less Than1-55-10in Excess  
   1 YearYearsYearsof 10 YearsTotal
PPL               
Amortized cost $ 11 $ 81 $ 61 $ 77 $ 230
Fair value   11   85   67   85   248
                 
PPL Energy Supply               
Amortized cost $ 11 $ 81 $ 61 $ 74 $ 227
Fair value   11   85   67   82   245

The following table shows proceeds from and realized gains and losses on sales of available-for-sale securities for the periods ended September 30.

   Three Months Nine Months
   2012 2011 2012 2011
PPL            
Proceeds from sales of NDT securities (a) $ 23 $ 34 $ 102 $ 134
Other proceeds from sales         5   163
Gross realized gains (b)   2   3   15   26
Gross realized losses (b)   2   4   8   15
              
PPL Energy Supply            
Proceeds from sales of NDT securities (a) $ 23 $ 34 $ 102 $ 134
Other proceeds from sales         3   
Gross realized gains (b)   2   3   15   26
Gross realized losses (b)   2   4   8   15

(a)       These proceeds are used to pay income taxes and fees related to managing the trust. Remaining proceeds are reinvested in the trust.

(b)       Excludes the impact of other-than-temporary impairment charges recognized in the Statements of Income.

 

(PPL, LKE and LG&E)

 

At December 31, 2010, LG&E held $163 million aggregate principal amount of tax-exempt revenue bonds issued by Louisville/Jefferson County, Kentucky on behalf of LG&E that were purchased from the remarketing agent in 2008. During the nine months ended September 30, 2011, LG&E received $163 million for its investments in these bonds when they were remarketed to unaffiliated investors. No realized or unrealized gains (losses) were recorded on these securities, as the difference between carrying value and fair value was not significant.

Louisville Gas And Electric Co [Member]
  
Available-for-Sale Securities [Line Items]  
Available-for-Sale Securities

17. Available-for-Sale Securities

 

(PPL, PPL Energy Supply, LKE and LG&E)

 

Certain short-term investments, securities held by the NDT funds and auction rate securities are classified as available-for-sale. Available-for-sale securities are carried on the Balance Sheets at fair value. Unrealized gains and losses on these securities are reported, net of tax, in OCI or are recognized currently in earnings when a decline in fair value is determined to be other-than-temporary. The specific identification method is used to calculate realized gains and losses.

 

(PPL and PPL Energy Supply)

 

The following table shows the amortized cost, the gross unrealized gains and losses recorded in AOCI, and the fair value of available-for-sale securities.

       September 30, 2012 December 31, 2011
          Gross Gross      Gross Gross  
       Amortized   Unrealized   Unrealized    Amortized  Unrealized  Unrealized   
       Cost Gains Losses Fair Value  Cost  Gains Losses Fair Value
PPL                        
 NDT funds:                        
   Cash and cash equivalents $ 12       $ 12 $ 12       $ 12
   Equity securities:                         
    U.S. large-cap   219 $ 193      412   211 $ 146      357
    U.S. mid/small-cap   30   29      59   29   23      52
   Debt securities:                        
    U.S. Treasury   85   10      95   76   10      86
    U.S. government sponsored                        
     agency   8   1      9   9   1      10
    Municipality   79   5 $ 1   83   80   4 $ 1   83
    Investment-grade corporate   36   4      40   35   3      38
    Other   2         2   2         2
   Receivables/payables, net   (1)         (1)            
   Total NDT funds   470   242   1   711   454   187   1   640
 Auction rate securities   20      1   19   25      1   24
 Total  $ 490 $ 242 $ 2 $ 730 $ 479 $ 187 $ 2 $ 664
                              
PPL Energy Supply                        
 NDT funds:                        
   Cash and cash equivalents $ 12       $ 12 $ 12       $ 12
   Equity securities:                         
    U.S. large-cap   219 $ 193      412   211 $ 146      357
    U.S. mid/small-cap   30   29      59   29   23      52
   Debt securities:                        
    U.S. Treasury   85   10      95   76   10      86
    U.S. government sponsored                        
     agency   8   1      9   9   1      10
    Municipality   79   5 $ 1   83   80   4 $ 1   83
    Investment-grade corporate   36   4      40   35   3      38
    Other   2         2   2         2
   Receivables/payables, net   (1)         (1)            
   Total NDT funds   470   242   1   711   454   187   1   640
 Auction rate securities   17      1   16   20      1   19
 Total $ 487 $ 242 $ 2 $ 727 $ 474 $ 187 $ 2 $ 659

There were no securities with credit losses at September 30, 2012 and December 31, 2011.

 

The following table shows the scheduled maturity dates of debt securities held at September 30, 2012.

   Maturity Maturity Maturity Maturity   
    Less Than1-55-10in Excess  
   1 YearYearsYearsof 10 YearsTotal
PPL               
Amortized cost $ 11 $ 81 $ 61 $ 77 $ 230
Fair value   11   85   67   85   248
                 
PPL Energy Supply               
Amortized cost $ 11 $ 81 $ 61 $ 74 $ 227
Fair value   11   85   67   82   245

The following table shows proceeds from and realized gains and losses on sales of available-for-sale securities for the periods ended September 30.

   Three Months Nine Months
   2012 2011 2012 2011
PPL            
Proceeds from sales of NDT securities (a) $ 23 $ 34 $ 102 $ 134
Other proceeds from sales         5   163
Gross realized gains (b)   2   3   15   26
Gross realized losses (b)   2   4   8   15
              
PPL Energy Supply            
Proceeds from sales of NDT securities (a) $ 23 $ 34 $ 102 $ 134
Other proceeds from sales         3   
Gross realized gains (b)   2   3   15   26
Gross realized losses (b)   2   4   8   15

(a)       These proceeds are used to pay income taxes and fees related to managing the trust. Remaining proceeds are reinvested in the trust.

(b)       Excludes the impact of other-than-temporary impairment charges recognized in the Statements of Income.

 

(PPL, LKE and LG&E)

 

At December 31, 2010, LG&E held $163 million aggregate principal amount of tax-exempt revenue bonds issued by Louisville/Jefferson County, Kentucky on behalf of LG&E that were purchased from the remarketing agent in 2008. During the nine months ended September 30, 2011, LG&E received $163 million for its investments in these bonds when they were remarketed to unaffiliated investors. No realized or unrealized gains (losses) were recorded on these securities, as the difference between carrying value and fair value was not significant.