XML 62 R43.htm IDEA: XBRL DOCUMENT v2.4.0.6
Derivative Instruments and Hedging Activities (Tables)
 3 Months Ended
Mar. 31, 2013
Derivative Instruments and Hedging Activities [Line Items]  
Commodity Price Risk (Non-trading) - Economic Activity - Pre-tax Gains (Losses) Associated with Economic Activity

The unrealized gains (losses) for economic activity for the periods ended March 31 were as follows.

     Three Months
       2013 2012
Operating Revenues            
 Unregulated retail electric and gas       $ (8) $ 10
 Wholesale energy marketing          (822)   852
Operating Expenses            
 Fuel         (1)   2
 Energy purchases         634   (591)
Commodity Volumes - Volumes of Derivative (Sales) Purchase Contracts

At March 31, 2013, the net volumes of derivative (sales)/purchase contracts used in support of the various strategies discussed above were as follows.

    Volume (a)
Commodity Unit of Measure 2013 (b) 2014 2015 Thereafter
           
Power MWh  (27,422,031)  (22,385,959)  (490,995)  1,415,573
Capacity MW-Month  (11,655)  (6,630)  (13)  525
Gas MMBtu  (5,339,243)  (25,106,607)  (4,091,856)  (3,678,883)
Coal Tons  (186,000)  186,000    
FTRs MW-Month  14,224  5,063  1,465  
Oil Barrels  46,118  240,000  300,000  240,000

(a)       Volumes for option contracts factor in the probability of an option being exercised and may be less than the notional amount of the option.

(b)       Represents balance of the current year.

Fair Value and Balance Sheet Location of Derivative Instruments

The following table presents the fair value and location of derivative instruments recorded on the Balance Sheets.

       March 31, 2013 December 31, 2012
       Derivatives designated as  Derivatives not designated Derivatives designated as  Derivatives not designated
       hedging instruments  as hedging instruments (a) hedging instruments  as hedging instruments (a)
       Assets Liabilities Assets Liabilities Assets Liabilities Assets Liabilities
Current:                        
 Price Risk Management                         
  Assets/Liabilities (b):                        
   Interest rate swaps $ 24 $ 15    $ 5 $ 14 $ 22    $ 5
   Cross-currency swaps    2   1            3      
   Foreign currency                        
    contracts   15    $ 49         2      23
   Commodity contracts         1,194   951   59    $ 1,452   1,010
     Total current   41   16   1,243   956   73   27   1,452   1,038
Noncurrent:                        
 Price Risk Management                         
  Assets/Liabilities (b):                        
   Interest rate swaps   3         49   1         53
   Cross-currency swaps    81            14   1      
   Foreign currency                        
    contracts         32   3            19
   Commodity contracts         482   481   27      530   556
     Total noncurrent   84      514   533   42   1   530   628
Total derivatives $ 125 $ 16 $ 1,757 $ 1,489 $ 115 $ 28 $ 1,982 $ 1,666

(a)       $324 million and $300 million of net gains associated with derivatives that were no longer designated as hedging instruments are recorded in AOCI at March 31, 2013 and December 31, 2012.

(b)       Represents the location on the Balance Sheets.

Pre-tax Gain (Loss) on Derivative Instruments Recognized in Income or on the Balance Sheet

The following tables present the pre-tax effect of derivative instruments recognized in income, OCI or regulatory assets and regulatory liabilities for the three months ended March 31.

Derivatives in Hedged Items in  Location of Gain Gain (Loss) Recognized Gain (Loss) Recognized
Fair Value Hedging Fair Value Hedging  (Loss) Recognized in in Income on Derivative  in Income on Related Item
Relationships Relationships  Income on Derivative 2013 2012 2013 2012
                  
Interest rate swaps Fixed rate debt Interest expense          $ 1

              2013 2012
                 Gain (Loss)    Gain (Loss)
                 Recognized    Recognized
                 in Income    in Income
              on Derivative Gain (Loss) on Derivative
           Gain (Loss) (Ineffective Reclassified (Ineffective
        Location of Reclassified Portion and from AOCI Portion and
     Derivative Gain Gain (Loss) from AOCI Amount into Amount
     (Loss) Recognized in Recognized into Income Excluded from Income Excluded from
Derivative   OCI (Effective Portion)  in Income  (Effective Effectiveness (Effective Effectiveness
Relationships 2013 2012 on Derivative Portion) Testing) Portion) Testing)
Cash Flow Hedges:                    
 Interest rate swaps $ 9 $ 3 Interest expense $ (5)    $ (4)   
 Cross-currency swaps   73   12 Interest expense         (1)   
           Other income            
            (expense) - net   69      (19)   
 Commodity contracts      113 Wholesale energy             
            marketing   67 $ 1   272 $ 4
           Depreciation         1   
           Energy purchases   (16)      (40)   (4)
Total $ 82 $ 128    $ 115 $ 1 $ 209   
                         
Net Investment Hedges:                     
  Foreign currency contracts $ 16 $ (3)               

Derivatives Not Designated as Location of Gain (Loss) Recognized in      
Hedging Instruments  Income on Derivative 2013 2012
         
Foreign currency contracts Other income (expense) - net $ 119 $ (18)
Interest rate swaps Interest expense   (2)   (2)
Commodity contracts Unregulated retail electric and gas   (7)   22
  Wholesale energy marketing   (699)   1,343
  Net energy trading margins (a)   (7)   9
  Fuel   1   6
  Energy purchases   586   (1,070)
  Total $ (9) $ 290
         
Derivatives Not Designated as Location of Gain (Loss) Recognized as      
Hedging Instruments Regulatory Liabilities/Assets 2013 2012
         
Interest rate swaps Regulatory assets - noncurrent $ 4 $ 7
         
Derivatives Designated as Location of Gain (Loss) Recognized as      
Cash Flow Hedges Regulatory Liabilities/Assets 2013 2012
         
Interest rate swaps Regulatory liabilities - noncurrent $ 10   

(a)       Differs from the Statements of Income due to intra-month transactions that PPL defines as spot activity, which is not accounted for as a derivative.

Derivative Positions Eligible for Offset with Related Cash Collateral

The table below summarizes the derivative positions presented in the balance sheets where a right of setoff exists under these arrangements and related cash collateral received or pledged.

     Assets Liabilities
        Eligible for Offset       Eligible for Offset   
           Cash          Cash   
        Derivative Collateral       Derivative Collateral   
     Gross Instruments Received Net Gross Instruments Pledged Net
March 31, 2013                        
PPL                        
 Energy Commodities $ 1,676 $ 1,306 $ 48 $ 322 $ 1,432 $ 1,306 $ 15 $ 111
 Treasury Derivatives   206   16      190   73   16   26   31
Total $ 1,882 $ 1,322 $ 48 $ 512 $ 1,505 $ 1,322 $ 41 $ 142
                           
PPL Energy Supply                        
 Energy Commodities $ 1,676 $ 1,306 $ 48 $ 322 $ 1,432 $ 1,306 $ 15 $ 111

LKE                        
 Treasury Derivatives $ 24       $ 24 $ 54    $ 26 $ 28
                           
LG&E                        
 Treasury Derivatives $ 12       $ 12 $ 54    $ 26 $ 28
                           
KU                        
 Treasury Derivatives $ 12       $ 12            

December 31, 2012                        
PPL                        
 Energy Commodities $ 2,068 $ 1,413 $ 111 $ 544 $ 1,566 $ 1,413 $ 9 $ 144
 Treasury Derivatives   29   19      10   128   19   30   79
Total $ 2,097 $ 1,432 $ 111 $ 554 $ 1,694 $ 1,432 $ 39 $ 223
                           
PPL Energy Supply                        
 Energy Commodities $ 2,068 $ 1,413 $ 111 $ 544 $ 1,566 $ 1,413 $ 9 $ 144

LKE                        
 Treasury Derivatives $ 14       $ 14 $ 58    $ 30 $ 28
                           
LG&E                        
 Treasury Derivatives $ 7       $ 7 $ 58    $ 30 $ 28
                           
KU                        
 Treasury Derivatives $ 7       $ 7            
Credit Risk-Related Contingent Features

At March 31, 2013, the effect of a decrease in credit ratings below investment grade on derivative contracts that contain credit risk-related contingent features and were in a net liability position is summarized as follows:

       PPL      
    PPL Energy Supply LKE LG&E
               
Aggregate fair value of derivative instruments in a net liability             
 position with credit risk-related contingent features $ 146 $ 110 $ 36 $ 36
Aggregate fair value of collateral posted on these derivative instruments   27      27   27
Aggregate fair value of additional collateral requirements in the event of            
 a credit downgrade below investment grade (a)   151  141   10  10

(a)       Includes the effect of net receivables and payables already recorded on the Balance Sheet.

PPL Energy Supply LLC [Member]
  
Derivative Instruments and Hedging Activities [Line Items]  
Commodity Price Risk (Non-trading) - Economic Activity - Pre-tax Gains (Losses) Associated with Economic Activity

The unrealized gains (losses) for economic activity for the periods ended March 31 were as follows.

     Three Months
       2013 2012
Operating Revenues            
 Unregulated retail electric and gas       $ (8) $ 10
 Wholesale energy marketing          (822)   852
Operating Expenses            
 Fuel         (1)   2
 Energy purchases         634   (591)
Commodity Volumes - Volumes of Derivative (Sales) Purchase Contracts

At March 31, 2013, the net volumes of derivative (sales)/purchase contracts used in support of the various strategies discussed above were as follows.

    Volume (a)
Commodity Unit of Measure 2013 (b) 2014 2015 Thereafter
           
Power MWh  (27,422,031)  (22,385,959)  (490,995)  1,415,573
Capacity MW-Month  (11,655)  (6,630)  (13)  525
Gas MMBtu  (5,339,243)  (25,106,607)  (4,091,856)  (3,678,883)
Coal Tons  (186,000)  186,000    
FTRs MW-Month  14,224  5,063  1,465  
Oil Barrels  46,118  240,000  300,000  240,000

(a)       Volumes for option contracts factor in the probability of an option being exercised and may be less than the notional amount of the option.

(b)       Represents balance of the current year.

Fair Value and Balance Sheet Location of Derivative Instruments

The following table presents the fair value and location of derivative instruments recorded on the Balance Sheets.

       March 31, 2013 December 31, 2012
       Derivatives designated as Derivatives not designated Derivatives designated as Derivatives not designated
       hedging instruments  as hedging instruments (a) hedging instruments  hedging instruments (a)
       Assets Liabilities Assets Liabilities Assets Liabilities Assets Liabilities
Current:                        
 Price Risk Management                         
  Assets/Liabilities (b):                        
   Commodity contracts       $ 1,194 $ 951 $ 59    $ 1,452 $ 1,010
     Total current         1,194   951   59      1,452   1,010
Noncurrent:                        
 Price Risk Management                         
  Assets/Liabilities (b):                        
   Commodity contracts         482   481   27      530   556
     Total noncurrent         482   481   27      530   556
Total derivatives       $ 1,676 $ 1,432 $ 86    $ 1,982 $ 1,566

(a)       $324 million and $300 million of net gains associated with derivatives that were no longer designated as hedging instruments are recorded in AOCI at March 31, 2013 and December 31, 2012.

(b)       Represents the location on the Balance Sheets.

Pre-tax Gain (Loss) on Derivative Instruments Recognized in Income or on the Balance Sheet

The following tables present the pre-tax effect of derivative instruments recognized in income or OCI for the three months ended March 31.

             2013 2012
                Gain (Loss)    Gain (Loss)
                 Recognized    Recognized
                in Income    in Income
                on Derivative    on Derivative
          Gain (Loss) (Ineffective Gain (Loss) (Ineffective
        Location of Reclassified Portion and Reclassified Portion and
     Derivative Gain  Gains (Losses) from AOCI Amount from AOCI Amount
     (Loss) Recognized in Recognized into Income Excluded from into Income Excluded from
Derivative  OCI (Effective Portion)  in Income (Effective Effectiveness (Effective Effectiveness
Relationships 2013 2012 on Derivative  Portion)  Testing) Portion) Testing)
           Wholesale energy             
  Commodity contracts    $ 113  marketing $ 67 $ 1 $ 272 $ 4
           Energy purchases   (16)      (40)   (4)
Total    $ 113    $ 51 $ 1 $ 232   
                         

Derivatives Not Designated as Location of Gain (Loss) Recognized in      
Hedging Instruments  Income on Derivatives 2013 2012
         
Commodity contracts Unregulated retail electric and gas $ (7) $ 22
  Wholesale energy marketing   (699)   1,343
  Net energy trading margins (a)   (7)   9
  Fuel   1   6
  Energy purchases   586   (1,070)
  Total $ (126) $ 310

(a)       Differs from the Statements of Income due to intra-month transactions that PPL Energy Supply defines as spot activity, which is not accounted for as a derivative.

Derivative Positions Eligible for Offset with Related Cash Collateral

The table below summarizes the derivative positions presented in the balance sheets where a right of setoff exists under these arrangements and related cash collateral received or pledged.

     Assets Liabilities
        Eligible for Offset       Eligible for Offset   
           Cash          Cash   
        Derivative Collateral       Derivative Collateral   
     Gross Instruments Received Net Gross Instruments Pledged Net
March 31, 2013                        
PPL                        
 Energy Commodities $ 1,676 $ 1,306 $ 48 $ 322 $ 1,432 $ 1,306 $ 15 $ 111
 Treasury Derivatives   206   16      190   73   16   26   31
Total $ 1,882 $ 1,322 $ 48 $ 512 $ 1,505 $ 1,322 $ 41 $ 142
                           
PPL Energy Supply                        
 Energy Commodities $ 1,676 $ 1,306 $ 48 $ 322 $ 1,432 $ 1,306 $ 15 $ 111

LKE                        
 Treasury Derivatives $ 24       $ 24 $ 54    $ 26 $ 28
                           
LG&E                        
 Treasury Derivatives $ 12       $ 12 $ 54    $ 26 $ 28
                           
KU                        
 Treasury Derivatives $ 12       $ 12            

December 31, 2012                        
PPL                        
 Energy Commodities $ 2,068 $ 1,413 $ 111 $ 544 $ 1,566 $ 1,413 $ 9 $ 144
 Treasury Derivatives   29   19      10   128   19   30   79
Total $ 2,097 $ 1,432 $ 111 $ 554 $ 1,694 $ 1,432 $ 39 $ 223
                           
PPL Energy Supply                        
 Energy Commodities $ 2,068 $ 1,413 $ 111 $ 544 $ 1,566 $ 1,413 $ 9 $ 144

LKE                        
 Treasury Derivatives $ 14       $ 14 $ 58    $ 30 $ 28
                           
LG&E                        
 Treasury Derivatives $ 7       $ 7 $ 58    $ 30 $ 28
                           
KU                        
 Treasury Derivatives $ 7       $ 7            
Credit Risk-Related Contingent Features

At March 31, 2013, the effect of a decrease in credit ratings below investment grade on derivative contracts that contain credit risk-related contingent features and were in a net liability position is summarized as follows:

       PPL      
    PPL Energy Supply LKE LG&E
               
Aggregate fair value of derivative instruments in a net liability             
 position with credit risk-related contingent features $ 146 $ 110 $ 36 $ 36
Aggregate fair value of collateral posted on these derivative instruments   27      27   27
Aggregate fair value of additional collateral requirements in the event of            
 a credit downgrade below investment grade (a)   151  141   10  10

(a)       Includes the effect of net receivables and payables already recorded on the Balance Sheet.

LG And E And KU Energy LLC [Member]
  
Derivative Instruments and Hedging Activities [Line Items]  
Fair Value and Balance Sheet Location of Derivative Instruments

The following table presents the fair value and location of derivative instruments recorded on the Balance Sheets.

       March 31, 2013 December 31, 2012
       Derivatives designated as  Derivatives not designated Derivatives designated as  Derivatives not designated
       hedging instruments  as hedging instruments hedging instruments  as hedging instruments
       Assets Liabilities Assets Liabilities Assets Liabilities Assets Liabilities
Current:                        
 Price Risk Management                         
  Assets/Liabilities (a):                        
   Interest rate swaps $ 24       $ 5 $ 14       $ 5
     Total current   24         5   14         5
Noncurrent:                        
 Price Risk Management                         
  Assets/Liabilities (a):                        
   Interest rate swaps            49            53
     Total noncurrent            49            53
Total derivatives $ 24       $ 54 $ 14       $ 58

(a)       Represents the location on the Balance Sheets.

Pre-tax Gain (Loss) on Derivative Instruments Recognized in Income or on the Balance Sheet

The following tables present the pre-tax effect of derivative instruments recognized in income or regulatory assets and regulatory liabilities for the three months ended March 31.

Derivatives Not Designated as Location of Gain (Loss) Recognized in      
Hedging Instruments:  Income on Derivatives 2013 2012
         
Interest rate swaps Interest expense $ (2) $ (2)
         
         
Derivatives Not Designated as Location of Gain (Loss) Recognized as      
Hedging Instruments: Regulatory Liabilities/Assets 2013 2012
         
Interest rate swaps Regulatory assets - noncurrent $ 4 $ 7
         
         
Derivatives Designated as Location of Gain (Loss) Recognized as    
Cash Flow Hedges Regulatory Liabilities/Assets 2013 2012
         
Interest rate swaps Regulatory liabilities - noncurrent $ 10   
Derivative Positions Eligible for Offset with Related Cash Collateral

The table below summarizes the derivative positions presented in the balance sheets where a right of setoff exists under these arrangements and related cash collateral received or pledged.

     Assets Liabilities
        Eligible for Offset       Eligible for Offset   
           Cash          Cash   
        Derivative Collateral       Derivative Collateral   
     Gross Instruments Received Net Gross Instruments Pledged Net
March 31, 2013                        
PPL                        
 Energy Commodities $ 1,676 $ 1,306 $ 48 $ 322 $ 1,432 $ 1,306 $ 15 $ 111
 Treasury Derivatives   206   16      190   73   16   26   31
Total $ 1,882 $ 1,322 $ 48 $ 512 $ 1,505 $ 1,322 $ 41 $ 142
                           
PPL Energy Supply                        
 Energy Commodities $ 1,676 $ 1,306 $ 48 $ 322 $ 1,432 $ 1,306 $ 15 $ 111

LKE                        
 Treasury Derivatives $ 24       $ 24 $ 54    $ 26 $ 28
                           
LG&E                        
 Treasury Derivatives $ 12       $ 12 $ 54    $ 26 $ 28
                           
KU                        
 Treasury Derivatives $ 12       $ 12            

December 31, 2012                        
PPL                        
 Energy Commodities $ 2,068 $ 1,413 $ 111 $ 544 $ 1,566 $ 1,413 $ 9 $ 144
 Treasury Derivatives   29   19      10   128   19   30   79
Total $ 2,097 $ 1,432 $ 111 $ 554 $ 1,694 $ 1,432 $ 39 $ 223
                           
PPL Energy Supply                        
 Energy Commodities $ 2,068 $ 1,413 $ 111 $ 544 $ 1,566 $ 1,413 $ 9 $ 144

LKE                        
 Treasury Derivatives $ 14       $ 14 $ 58    $ 30 $ 28
                           
LG&E                        
 Treasury Derivatives $ 7       $ 7 $ 58    $ 30 $ 28
                           
KU                        
 Treasury Derivatives $ 7       $ 7            
Credit Risk-Related Contingent Features

At March 31, 2013, the effect of a decrease in credit ratings below investment grade on derivative contracts that contain credit risk-related contingent features and were in a net liability position is summarized as follows:

       PPL      
    PPL Energy Supply LKE LG&E
               
Aggregate fair value of derivative instruments in a net liability             
 position with credit risk-related contingent features $ 146 $ 110 $ 36 $ 36
Aggregate fair value of collateral posted on these derivative instruments   27      27   27
Aggregate fair value of additional collateral requirements in the event of            
 a credit downgrade below investment grade (a)   151  141   10  10

(a)       Includes the effect of net receivables and payables already recorded on the Balance Sheet.

Louisville Gas And Electric Co [Member]
  
Derivative Instruments and Hedging Activities [Line Items]  
Fair Value and Balance Sheet Location of Derivative Instruments

The following table presents the fair value and location of derivative instruments recorded on the Balance Sheets.

       March 31, 2013 December 31, 2012
       Derivatives designated as  Derivatives not designated Derivatives designated as  Derivatives not designated
       hedging instruments  as hedging instruments hedging instruments  as hedging instruments
       Assets Liabilities Assets Liabilities Assets Liabilities Assets Liabilities
Current:                        
 Price Risk Management                         
  Assets/Liabilities (a):                        
   Interest rate swaps $ 12       $ 5 $ 7       $ 5
     Total current   12         5   7         5
Noncurrent:                        
 Price Risk Management                         
  Assets/Liabilities (a):                        
   Interest rate swaps            49            53
     Total noncurrent            49            53
Total derivatives $ 12       $ 54 $ 7       $ 58

(a)       Represents the location on the Balance Sheets.

Pre-tax Gain (Loss) on Derivative Instruments Recognized in Income or on the Balance Sheet

The following tables present the pre-tax effect of derivative instruments recognized in income or regulatory assets and regulatory liabilities for the three months ended March 31.

Derivatives Not Designated as Location of Gain (Loss) Recognized in      
Hedging Instruments:  Income on Derivatives 2013 2012
         
Interest rate swaps Interest expense $ (2) $ (2)
         
         
Derivatives Not Designated as Location of Gain (Loss) Recognized as      
Hedging Instruments: Regulatory Liabilities/Assets 2013 2012
         
Interest rate swaps Regulatory assets - noncurrent $ 4 $ 7
         
         
Derivatives Designated as Location of Gain (Loss) Recognized as    
Cash Flow Hedges Regulatory Liabilities/Assets 2013 2012
         
Interest rate swaps Regulatory liabilities - noncurrent $ 5   
Derivative Positions Eligible for Offset with Related Cash Collateral

The table below summarizes the derivative positions presented in the balance sheets where a right of setoff exists under these arrangements and related cash collateral received or pledged.

     Assets Liabilities
        Eligible for Offset       Eligible for Offset   
           Cash          Cash   
        Derivative Collateral       Derivative Collateral   
     Gross Instruments Received Net Gross Instruments Pledged Net
March 31, 2013                        
PPL                        
 Energy Commodities $ 1,676 $ 1,306 $ 48 $ 322 $ 1,432 $ 1,306 $ 15 $ 111
 Treasury Derivatives   206   16      190   73   16   26   31
Total $ 1,882 $ 1,322 $ 48 $ 512 $ 1,505 $ 1,322 $ 41 $ 142
                           
PPL Energy Supply                        
 Energy Commodities $ 1,676 $ 1,306 $ 48 $ 322 $ 1,432 $ 1,306 $ 15 $ 111

LKE                        
 Treasury Derivatives $ 24       $ 24 $ 54    $ 26 $ 28
                           
LG&E                        
 Treasury Derivatives $ 12       $ 12 $ 54    $ 26 $ 28
                           
KU                        
 Treasury Derivatives $ 12       $ 12            

December 31, 2012                        
PPL                        
 Energy Commodities $ 2,068 $ 1,413 $ 111 $ 544 $ 1,566 $ 1,413 $ 9 $ 144
 Treasury Derivatives   29   19      10   128   19   30   79
Total $ 2,097 $ 1,432 $ 111 $ 554 $ 1,694 $ 1,432 $ 39 $ 223
                           
PPL Energy Supply                        
 Energy Commodities $ 2,068 $ 1,413 $ 111 $ 544 $ 1,566 $ 1,413 $ 9 $ 144

LKE                        
 Treasury Derivatives $ 14       $ 14 $ 58    $ 30 $ 28
                           
LG&E                        
 Treasury Derivatives $ 7       $ 7 $ 58    $ 30 $ 28
                           
KU                        
 Treasury Derivatives $ 7       $ 7            
Credit Risk-Related Contingent Features

At March 31, 2013, the effect of a decrease in credit ratings below investment grade on derivative contracts that contain credit risk-related contingent features and were in a net liability position is summarized as follows:

       PPL      
    PPL Energy Supply LKE LG&E
               
Aggregate fair value of derivative instruments in a net liability             
 position with credit risk-related contingent features $ 146 $ 110 $ 36 $ 36
Aggregate fair value of collateral posted on these derivative instruments   27      27   27
Aggregate fair value of additional collateral requirements in the event of            
 a credit downgrade below investment grade (a)   151  141   10  10

(a)       Includes the effect of net receivables and payables already recorded on the Balance Sheet.

Kentucky Utilities Co [Member]
  
Derivative Instruments and Hedging Activities [Line Items]  
Derivative Positions Eligible for Offset with Related Cash Collateral

The table below summarizes the derivative positions presented in the balance sheets where a right of setoff exists under these arrangements and related cash collateral received or pledged.

     Assets Liabilities
        Eligible for Offset       Eligible for Offset   
           Cash          Cash   
        Derivative Collateral       Derivative Collateral   
     Gross Instruments Received Net Gross Instruments Pledged Net
March 31, 2013                        
PPL                        
 Energy Commodities $ 1,676 $ 1,306 $ 48 $ 322 $ 1,432 $ 1,306 $ 15 $ 111
 Treasury Derivatives   206   16      190   73   16   26   31
Total $ 1,882 $ 1,322 $ 48 $ 512 $ 1,505 $ 1,322 $ 41 $ 142
                           
PPL Energy Supply                        
 Energy Commodities $ 1,676 $ 1,306 $ 48 $ 322 $ 1,432 $ 1,306 $ 15 $ 111

LKE                        
 Treasury Derivatives $ 24       $ 24 $ 54    $ 26 $ 28
                           
LG&E                        
 Treasury Derivatives $ 12       $ 12 $ 54    $ 26 $ 28
                           
KU                        
 Treasury Derivatives $ 12       $ 12            

December 31, 2012                        
PPL                        
 Energy Commodities $ 2,068 $ 1,413 $ 111 $ 544 $ 1,566 $ 1,413 $ 9 $ 144
 Treasury Derivatives   29   19      10   128   19   30   79
Total $ 2,097 $ 1,432 $ 111 $ 554 $ 1,694 $ 1,432 $ 39 $ 223
                           
PPL Energy Supply                        
 Energy Commodities $ 2,068 $ 1,413 $ 111 $ 544 $ 1,566 $ 1,413 $ 9 $ 144

LKE                        
 Treasury Derivatives $ 14       $ 14 $ 58    $ 30 $ 28
                           
LG&E                        
 Treasury Derivatives $ 7       $ 7 $ 58    $ 30 $ 28
                           
KU                        
 Treasury Derivatives $ 7       $ 7