XML 104 R5.htm IDEA: XBRL DOCUMENT v2.4.0.6
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (USD $)
In Millions, unless otherwise specified
9 Months Ended
Sep. 30, 2012
Sep. 30, 2011
Cash Flows from Operating Activities    
Net income $ 1,171 $ 1,054
Adjustments to reconcile net income to net cash provided by (used in) operating activities    
Depreciation 813 697
Amortization 144 180
Defined benefit plans - expense 123 165
Deferred income taxes and investment tax credits 298 403
Unrealized (gains) losses on derivatives, and other hedging activities 21 (190)
Other 34 110
Change in current assets and current liabilities    
Accounts receivable 19 (134)
Accounts payable (175) (164)
Unbilled revenues 121 236
Prepayments (11) 286
Counterparty collateral 13 (273)
Taxes 29 (64)
Accrued interest 43 111
Other 15 87
Other operating activities    
Defined benefit plans - funding (526) (565)
Other assets 1 (22)
Other liabilities (39) (71)
Net cash provided by (used in) operating activities 2,094 1,846
Cash Flows from Investing Activities    
Expenditures for property, plant and equipment (2,078) (1,685)
Proceeds from the sale of certain non-core generation facilities    381
Ironwood Acquisition, net of cash acquired (84)   
Acquisition of WPD Midlands    (5,763)
Purchases of nuclear plant decommissioning trust investments (112) (144)
Proceeds from the sale of nuclear plant decommissioning trust investments 102 134
Proceeds from the sale of other investments 20 163
Net (increase) decrease in restricted cash and cash equivalents 62 (51)
Other investing activities (26) (74)
Net cash provided by (used in) investing activities (2,116) (7,039)
Cash Flows from Financing Activities    
Issuance of long-term debt 824 5,245
Retirement of long-term debt (105) (708)
Issuance of common stock 54 2,281
Payment of common stock dividends (623) (543)
Redemption of preference stock of a subsidiary (250)   
Debt issuance and credit facility costs (10) (84)
Contract adjustment payments (71) (49)
Net increase (decrease) in short-term debt (51) (322)
Other financing activities (8) (16)
Net cash provided by (used in) financing activities (240) 5,804
Effect of Exchange Rates on Cash and Cash Equivalents 6 (25)
Net Increase (Decrease) in Cash and Cash Equivalents (256) 586
Cash and Cash Equivalents at Beginning of Period 1,202 925
Cash and Cash Equivalents at End of Period 946 1,511
PPL Energy Supply LLC [Member]
   
Cash Flows from Operating Activities    
Net income 383 473
Adjustments to reconcile net income to net cash provided by (used in) operating activities    
Depreciation 206 182
Amortization 93 96
Defined benefit plans - expense 33 26
Deferred income taxes and investment tax credits 132 226
Unrealized (gains) losses on derivatives, and other hedging activities (37) (155)
Other 33 42
Change in current assets and current liabilities    
Accounts receivable (26) (43)
Accounts payable (110) (163)
Unbilled revenues 78 116
Counterparty collateral 12 (273)
Other (48) 92
Other operating activities    
Defined benefit plans - funding (70) (136)
Other assets (16) (31)
Other liabilities 11 (12)
Net cash provided by (used in) operating activities 674 440
Cash Flows from Investing Activities    
Expenditures for property, plant and equipment (460) (499)
Proceeds from the sale of certain non-core generation facilities    381
Ironwood Acquisition, net of cash acquired (84)   
Expenditures for intangible assets (36) (45)
Purchases of nuclear plant decommissioning trust investments (112) (144)
Proceeds from the sale of nuclear plant decommissioning trust investments 102 134
Net (increase) decrease in notes receivable from affiliates 198   
Net (increase) decrease in restricted cash and cash equivalents 70 (36)
Other investing activities 14 7
Net cash provided by (used in) investing activities (308) (202)
Cash Flows from Financing Activities    
Retirement of long-term debt (6) (250)
Contributions from member 472 361
Distributions to member (733) (209)
Cash included in net assets of subsidiary distributed to member    (325)
Net increase (decrease) in short-term debt (45) (100)
Other financing activities (1) (1)
Net cash provided by (used in) financing activities (313) (524)
Net Increase (Decrease) in Cash and Cash Equivalents 53 (286)
Cash and Cash Equivalents at Beginning of Period 379 661
Cash and Cash Equivalents at End of Period 432 375
PPL Electric Utilities Corp [Member]
   
Cash Flows from Operating Activities    
Net income 99 [1] 128 [1]
Adjustments to reconcile net income to net cash provided by (used in) operating activities    
Depreciation 119 108
Amortization 13 5
Defined benefit plans - expense 17 13
Deferred income taxes and investment tax credits 72 9
Other 3 2
Change in current assets and current liabilities    
Accounts receivable 48 (5)
Accounts payable (43) (105)
Unbilled revenues 18 53
Prepayments 2 58
Regulatory assets and liabilities (1) 95
Taxes    19
Other (5) (7)
Other operating activities    
Defined benefit plans - funding (54) (102)
Other assets    (1)
Other liabilities (27) (9)
Net cash provided by (used in) operating activities 261 261
Cash Flows from Investing Activities    
Expenditures for property, plant and equipment (407) (357)
Net (increase) decrease in notes receivable from affiliates (210)   
Other investing activities 3 4
Net cash provided by (used in) investing activities (614) (353)
Cash Flows from Financing Activities    
Issuance of long-term debt 249 645
Retirement of long-term debt    (458)
Contributions from parent 150 56
Redemption of preference stock of a subsidiary (250)   
Payment of common stock dividends to parent (75) (76)
Other financing activities (10) (18)
Net cash provided by (used in) financing activities 64 149
Net Increase (Decrease) in Cash and Cash Equivalents (289) 57
Cash and Cash Equivalents at Beginning of Period 320 204
Cash and Cash Equivalents at End of Period 31 261
LG And E And KU Energy LLC [Member]
   
Cash Flows from Operating Activities    
Net income 180 [1] 217 [1]
Adjustments to reconcile net income to net cash provided by (used in) operating activities    
Depreciation 259 249
Amortization 20 20
Defined benefit plans - expense 30 38
Deferred income taxes and investment tax credits 92 206
Other (5) (14)
Change in current assets and current liabilities    
Accounts receivable (25) 1
Accounts payable 4 (28)
Unbilled revenues 26 58
Fuel, materials and supplies 4 30
Income tax receivable 3 40
Taxes 51 2
Other 48 19
Other operating activities    
Defined benefit plans - funding (66) (159)
Other assets (3) (8)
Other liabilities 28 12
Net cash provided by (used in) operating activities 646 683
Cash Flows from Investing Activities    
Expenditures for property, plant and equipment (525) (296)
Proceeds from the sale of other investments    163
Net (increase) decrease in notes receivable from affiliates 9 8
Net (increase) decrease in restricted cash and cash equivalents (3) (11)
Net cash provided by (used in) investing activities (519) (136)
Cash Flows from Financing Activities    
Issuance of long-term debt    250
Distributions to member (95) (469)
Debt issuance and credit facility costs (1) (6)
Net increase (decrease) in short-term debt    (163)
Net cash provided by (used in) financing activities (96) (388)
Net Increase (Decrease) in Cash and Cash Equivalents 31 159
Cash and Cash Equivalents at Beginning of Period 59 11
Cash and Cash Equivalents at End of Period 90 170
Louisville Gas And Electric Co [Member]
   
Cash Flows from Operating Activities    
Net income 94 [1] 102 [1]
Adjustments to reconcile net income to net cash provided by (used in) operating activities    
Depreciation 114 110
Amortization 8 9
Defined benefit plans - expense 14 16
Deferred income taxes and investment tax credits 40 38
Other (11) 2
Change in current assets and current liabilities    
Accounts receivable (5) 21
Accounts payable 2 (16)
Unbilled revenues 16 39
Fuel, materials and supplies (10) 16
Taxes 21 9
Other 13 3
Other operating activities    
Defined benefit plans - funding (26) (68)
Other assets (2) (7)
Other liabilities (1) 5
Net cash provided by (used in) operating activities 267 279
Cash Flows from Investing Activities    
Expenditures for property, plant and equipment (193) (127)
Proceeds from the sale of other investments    163
Net (increase) decrease in restricted cash and cash equivalents (3) (11)
Net cash provided by (used in) investing activities (196) 25
Cash Flows from Financing Activities    
Payment of common stock dividends to parent (47) (55)
Debt issuance and credit facility costs (1) (1)
Net increase (decrease) in notes payable to affiliates    (12)
Net increase (decrease) in short-term debt    (163)
Net cash provided by (used in) financing activities (48) (231)
Net Increase (Decrease) in Cash and Cash Equivalents 23 73
Cash and Cash Equivalents at Beginning of Period 25 2
Cash and Cash Equivalents at End of Period 48 75
Kentucky Utilities Co [Member]
   
Cash Flows from Operating Activities    
Net income 118 [1] 144 [1]
Adjustments to reconcile net income to net cash provided by (used in) operating activities    
Depreciation 145 139
Amortization 9 10
Defined benefit plans - expense 9 11
Deferred income taxes and investment tax credits 78 78
Other 1 (16)
Change in current assets and current liabilities    
Accounts receivable (34) 8
Accounts payable 9 5
Accounts payable to affiliates (4) (21)
Unbilled revenues 10 19
Fuel, materials and supplies 16 14
Taxes 26 (5)
Other 32 15
Other operating activities    
Defined benefit plans - funding (20) (46)
Other assets (1) (1)
Other liabilities 16 5
Net cash provided by (used in) operating activities 410 359
Cash Flows from Investing Activities    
Expenditures for property, plant and equipment (331) (168)
Net cash provided by (used in) investing activities (331) (168)
Cash Flows from Financing Activities    
Payment of common stock dividends to parent (68) (88)
Debt issuance and credit facility costs    (2)
Net increase (decrease) in notes payable to affiliates    (10)
Net cash provided by (used in) financing activities (68) (100)
Net Increase (Decrease) in Cash and Cash Equivalents 11 91
Cash and Cash Equivalents at Beginning of Period 31 3
Cash and Cash Equivalents at End of Period $ 42 $ 94
[1] Net income approximates comprehensive income.