XML 154 R5.htm IDEA: XBRL DOCUMENT v2.4.0.8
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Millions, unless otherwise specified
 12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Cash Flows from Operating Activities      
Net income (loss) $ 1,131 $ 1,531 $ 1,512
Adjustments to reconcile net income to net cash provided by (used in) operating activities      
Depreciation 1,161 1,100 961
Amortization 222 186 254
Defined benefit plans - expense 176 166 205
Deferred income taxes and investment tax credits 72 424 582
Impairment of assets 65 28 13
Unrealized (gains) losses on derivatives, and other hedging activities 236 27 (314)
Loss on lease termination 426      
Other 80 (27) (38)
Change in current assets and current liabilities      
Accounts receivable (165) 7 (89)
Accounts payable 25 (29) (36)
Unbilled revenues 27 (19) 64
Prepayments 14 (5) 294
Counterparty collateral (81) (34) (190)
Taxes payable 20 24 (104)
Regulatory assets and liabilities 18 (2) 106
Unrecognized tax positions (114) (4) 6
Accrued interest (3) 32 109
Other (91) 12   
Other operating activities      
Defined benefit plans - funding (563) (607) (667)
Other assets 7 (33) (62)
Other liabilities 194 (13) (99)
Net cash provided by (used in) operating activities 2,857 2,764 2,507
Cash Flows from Investing Activities      
Expenditures for property, plant and equipment (4,212) (3,105) (2,487)
Proceeds from the sale of certain non-core generation facilities       381
Ironwood Acquisition, net of cash acquired    (84)   
Acquisition of WPD Midlands       (5,763)
Expenditures for intangible assets (95) (71) (102)
Purchases of nuclear plant decommissioning trust investments (159) (154) (169)
Proceeds from the sale of nuclear plant decommissioning trust investments 144 139 156
Proceeds from the sale of other investments    20 163
Net (increase) decrease in restricted cash and cash equivalents (20) 96 (143)
Other investing activities 47 36 12
Net cash provided by (used in) investing activities (4,295) (3,123) (7,952)
Cash Flows from Financing Activities      
Issuance of long-term debt 2,038 1,223 5,745
Retirement of long-term debt (747) (108) (1,210)
Repurchase of common stock (74)      
Issuance of common stock 1,411 72 2,297
Payment of common stock dividends (878) (833) (746)
Redemption of preference stock of a subsidiary    (250)   
Debt issuance and credit facility costs (49) (17) (102)
Contract adjustment payments (82) (94) (72)
Net increase (decrease) in short-term debt 49 74 (125)
Other financing activities (37) (19) (20)
Net cash provided by (used in) financing activities 1,631 48 5,767
Effect of Exchange Rates on Cash and Cash Equivalents 8 10 (45)
Net Increase (Decrease) in Cash and Cash Equivalents 201 (301) 277
Cash and Cash Equivalents at Beginning of Period 901 1,202 925
Cash and Cash Equivalents at End of Period 1,102 901 1,202
Supplemental Disclosures of Cash Flow Information:      
Interest - net of amount capitalized 916 847 696
Income taxes - net 128 73 (76)
PPL Energy Supply LLC [Member]
      
Cash Flows from Operating Activities      
Net income (loss) (229) 475 769
Adjustments to reconcile net income to net cash provided by (used in) operating activities      
Depreciation 318 285 245
Amortization 156 119 137
Defined benefit plans - expense 51 43 36
Deferred income taxes and investment tax credits (296) 152 317
Impairment of assets 65 3 13
Unrealized (gains) losses on derivatives, and other hedging activities 171 (41) (283)
Loss on lease termination 426      
Other 2 19 (65)
Change in current assets and current liabilities      
Accounts receivable 23 (54) 38
Accounts payable (56) (22) (73)
Unbilled revenues 83 33 14
Fuel, materials and supplies (31) (29) (10)
Counterparty collateral (81) (34) (190)
Taxes payable (31) (27) 27
Other (14) (39) (8)
Other operating activities      
Defined benefit plans - funding (113) (75) (152)
Other assets (4) (41) (30)
Other liabilities (30) 17 (9)
Net cash provided by (used in) operating activities 410 784 776
Cash Flows from Investing Activities      
Expenditures for property, plant and equipment (583) (648) (661)
Proceeds from the sale of certain non-core generation facilities       381
Ironwood Acquisition, net of cash acquired    (84)   
Expenditures for intangible assets (42) (45) (57)
Purchases of nuclear plant decommissioning trust investments (159) (154) (169)
Proceeds from the sale of nuclear plant decommissioning trust investments 144 139 156
Net (increase) decrease in notes receivable from affiliates    198 (198)
Net (increase) decrease in restricted cash and cash equivalents (22) 104 (128)
Other investing activities 31 21 8
Net cash provided by (used in) investing activities (631) (469) (668)
Cash Flows from Financing Activities      
Issuance of long-term debt       500
Retirement of long-term debt (747) (9) (750)
Contributions from member 1,577 563 461
Distributions to member (408) (787) (316)
Cash included in net assets of subsidiary distributed to member       (325)
Net increase (decrease) in short-term debt (356) (44) 50
Other financing activities (19) (4) (10)
Net cash provided by (used in) financing activities 47 (281) (390)
Net Increase (Decrease) in Cash and Cash Equivalents (174) 34 (282)
Cash and Cash Equivalents at Beginning of Period 413 379 661
Cash and Cash Equivalents at End of Period 239 413 379
Supplemental Disclosures of Cash Flow Information:      
Interest - net of amount capitalized 157 150 165
Income taxes - net 189 128 69
PPL Electric Utilities Corp [Member]
      
Cash Flows from Operating Activities      
Net income (loss) 209 [1] 136 [1] 189 [1]
Adjustments to reconcile net income to net cash provided by (used in) operating activities      
Depreciation 178 160 146
Amortization 19 18 8
Defined benefit plans - expense 21 22 18
Deferred income taxes and investment tax credits 127 114 106
Other (9) (9) (7)
Change in current assets and current liabilities      
Accounts receivable (29) 3 (5)
Accounts payable 12 38 (60)
Unbilled revenues (6) (8) 36
Prepayments 36 2 58
Taxes payable 49 12 (23)
Regulatory assets and liabilities 19 (1) 107
Other (28) (5) 7
Other operating activities      
Defined benefit plans - funding (93) (59) (113)
Other assets 8 (3) (28)
Other liabilities 10 (31) (19)
Net cash provided by (used in) operating activities 523 389 420
Cash Flows from Investing Activities      
Expenditures for property, plant and equipment (903) (624) (481)
Expenditures for intangible assets (39) (9) (9)
Net (increase) decrease in notes receivable from affiliates (150)      
Other investing activities 12 20 13
Net cash provided by (used in) investing activities (1,080) (613) (477)
Cash Flows from Financing Activities      
Issuance of long-term debt 348 249 645
Retirement of long-term debt       (458)
Contributions from parent 205 150 100
Redemption of preference stock of a subsidiary    (250)   
Payment of common stock dividends to parent (127) (95) (92)
Net increase (decrease) in short-term debt 20      
Other financing activities (4) (10) (22)
Net cash provided by (used in) financing activities 442 44 173
Net Increase (Decrease) in Cash and Cash Equivalents (115) (180) 116
Cash and Cash Equivalents at Beginning of Period 140 320 204
Cash and Cash Equivalents at End of Period 25 140 320
Supplemental Disclosures of Cash Flow Information:      
Interest - net of amount capitalized 87 81 75
Income taxes - net (45) (42) (44)
LG And E And KU Energy LLC [Member]
      
Cash Flows from Operating Activities      
Net income (loss) 347 219 265
Adjustments to reconcile net income to net cash provided by (used in) operating activities      
Depreciation 334 346 334
Amortization 22 27 27
Defined benefit plans - expense 48 40 51
Deferred income taxes and investment tax credits 254 133 218
Impairment of assets    25   
Other 5 2 (9)
Change in current assets and current liabilities      
Accounts receivable (91) (9) 17
Accounts payable 40 1 (32)
Accounts payable to affiliates 1 (1)   
Unbilled revenues (24) (10) 24
Fuel, materials and supplies (1) 8 15
Income tax receivable 1 2 37
Taxes payable 13 1 (2)
Other 22    (1)
Other operating activities      
Defined benefit plans - funding (168) (70) (170)
Settlement of interest rate swaps 86      
Other assets    (5) (11)
Other liabilities 22 38 18
Net cash provided by (used in) operating activities 911 747 781
Cash Flows from Investing Activities      
Expenditures for property, plant and equipment (1,434) (768) (477)
Proceeds from the sale of other investments       163
Net (increase) decrease in notes receivable from affiliates (70) 15 46
Net (increase) decrease in restricted cash and cash equivalents 9 (3) (9)
Other investing activities 2      
Net cash provided by (used in) investing activities (1,493) (756) (277)
Cash Flows from Financing Activities      
Issuance of long-term debt 496    250
Retirement of long-term debt       (2)
Contributions from member 243      
Distributions to member (254) (155) (533)
Debt issuance and credit facility costs (6) (2) (8)
Net increase (decrease) in notes payable to affiliates (25) 25   
Net increase (decrease) in short-term debt 120 125 (163)
Net cash provided by (used in) financing activities 574 (7) (456)
Net Increase (Decrease) in Cash and Cash Equivalents (8) (16) 48
Cash and Cash Equivalents at Beginning of Period 43 59 11
Cash and Cash Equivalents at End of Period 35 43 59
Supplemental Disclosures of Cash Flow Information:      
Interest - net of amount capitalized 137 139 126
Income taxes - net (67) (45) (98)
Louisville Gas And Electric Co [Member]
      
Cash Flows from Operating Activities      
Net income (loss) 163 123 124
Adjustments to reconcile net income to net cash provided by (used in) operating activities      
Depreciation 148 152 147
Amortization 6 11 12
Defined benefit plans - expense 18 18 21
Deferred income taxes and investment tax credits 26 69 51
Other 9 (13) 1
Change in current assets and current liabilities      
Accounts receivable (23) (2) 25
Accounts payable 16    (24)
Accounts payable to affiliates 1 (3) 6
Unbilled revenues (13) (7) 16
Fuel, materials and supplies (12)    20
Taxes payable 9 (7) 3
Other 8 (7) (7)
Other operating activities      
Defined benefit plans - funding (48) (27) (70)
Settlement of interest rate swaps 43      
Other assets (1) (21) (7)
Other liabilities 6 22 7
Net cash provided by (used in) operating activities 356 308 325
Cash Flows from Investing Activities      
Expenditures for property, plant and equipment (577) (286) (196)
Proceeds from the sale of other investments       163
Net (increase) decrease in restricted cash and cash equivalents 10 (3) (9)
Net cash provided by (used in) investing activities (567) (289) (42)
Cash Flows from Financing Activities      
Issuance of long-term debt 248      
Contributions from parent 86      
Payment of common stock dividends to parent (99) (75) (83)
Debt issuance and credit facility costs (3) (2) (2)
Net increase (decrease) in notes payable to affiliates       (12)
Net increase (decrease) in short-term debt (35) 55 (163)
Net cash provided by (used in) financing activities 197 (22) (260)
Net Increase (Decrease) in Cash and Cash Equivalents (14) (3) 23
Cash and Cash Equivalents at Beginning of Period 22 25 2
Cash and Cash Equivalents at End of Period 8 22 25
Supplemental Disclosures of Cash Flow Information:      
Interest - net of amount capitalized 36 39 40
Income taxes - net 51 5 20
Kentucky Utilities Co [Member]
      
Cash Flows from Operating Activities      
Net income (loss) 228 137 178
Adjustments to reconcile net income to net cash provided by (used in) operating activities      
Depreciation 186 193 186
Amortization 14 14 13
Defined benefit plans - expense 18 11 14
Deferred income taxes and investment tax credits 69 99 108
Impairment of assets    25   
Other (3) 10 (10)
Change in current assets and current liabilities      
Accounts receivable (37) (17) 22
Accounts payable 23 1 2
Accounts payable to affiliates (8)    (12)
Unbilled revenues (11) (3) 8
Fuel, materials and supplies 10 7 (5)
Taxes payable 7 15 (14)
Accrued interest         
Other 10 6 (3)
Other operating activities      
Defined benefit plans - funding (65) (21) (50)
Settlement of interest rate swaps 43      
Other assets 1 (3) (2)
Other liabilities 10 26 9
Net cash provided by (used in) operating activities 495 500 444
Cash Flows from Investing Activities      
Expenditures for property, plant and equipment (855) (480) (279)
Other investing activities 2      
Net cash provided by (used in) investing activities (853) (480) (279)
Cash Flows from Financing Activities      
Issuance of long-term debt 248      
Contributions from parent 157      
Payment of common stock dividends to parent (124) (100) (124)
Debt issuance and credit facility costs (3)    (3)
Net increase (decrease) in notes payable to affiliates       (10)
Net increase (decrease) in short-term debt 80 70   
Net cash provided by (used in) financing activities 358 (30) (137)
Net Increase (Decrease) in Cash and Cash Equivalents    (10) 28
Cash and Cash Equivalents at Beginning of Period 21 31 3
Cash and Cash Equivalents at End of Period 21 21 31
Supplemental Disclosures of Cash Flow Information:      
Interest - net of amount capitalized 61 62 60
Income taxes - net $ 47 $ (39) $ 16
[1] Net income approximates comprehensive income.