Retirement and Postemployment Benefits (Tables)

12 Months Ended

Dec. 31, 2014

Defined Benefit Plan Disclosure [Line Items]

Schedule Of Net Periodic Defined Benefit Costs (Credits)

The following table provides the components of net periodic defined benefit costs for PPL's domestic (U.S.) and WPD’s (U.K.) pension and other postretirement benefit plans for the years ended December 31.

			Pension Benefits
			U.S.						U.K.						Other Postretirement Benefits
			2014		2013		2012		2014		2013		2012		2014		2013		2012
Net periodic defined benefit costs
	(credits):
Service cost			$	102	$	126	$	103	$	71	$	69	$	54	$	12	$	14	$	12
Interest cost				233		213		220		354		320		340		32		29		31
Expected return on plan assets				(298)		(293)		(259)		(521)		(465)		(458)		(26)		(25)		(23)
Amortization of:
		Transition (asset) obligation																		2
		Prior service cost (credit)		20		22		24				1		4						1
		Actuarial (gain) loss		30		80		42		132		150		79		1		6		4
Net periodic defined benefit costs
	(credits) prior to settlement charges,
	curtailment charges (credits)
	and termination benefits			87		148		130		36		75		19		19		24		27
Settlement charges								11
Curtailment charges (credits)																(1)
Termination benefits (a)				13								3		2
Net periodic defined benefit costs
	(credits)		$	100	$	148	$	141	$	36	$	78	$	21	$	18	$	24	$	27
Other Changes in Plan Assets
	and Benefit Obligations
	Recognized in OCI and
	Regulatory Assets/Liabilities -
	Gross:
Curtailments															$	1
Settlements							$	(11)
Net (gain) loss			$	600	$	(319)		372	$	354	$	76	$	1,073		21	$	(68)	$	13
Prior service cost
	(credit)			(8)												7		(3)		(1)
Amortization of:
		Transition asset (obligation)																		(2)
		Prior service (cost) credit		(20)		(22)		(24)				(1)		(4)						(1)
		Actuarial gain (loss)		(30)		(80)		(42)		(132)		(150)		(79)		(1)		(6)		(4)
Total recognized in OCI and
	regulatory assets/liabilities (b)			542		(421)		295		222		(75)		990		28		(77)		5
Total recognized in net periodic
	defined benefit costs, OCI and
	regulatory assets/liabilities (b)		$	642	$	(273)	$	436	$	258	$	3	$	1,011	$	46	$	(53)	$	32

(a)See Note 13 for details of a one-time voluntary retirement window offered to certain bargaining unit employees in 2014. 2013 and 2012 amounts are related to the WPD Midlands separations in the U.K.

(b)WPD is not subject to accounting for the effects of certain types of regulation as prescribed by GAAP. As a result, WPD does not record regulatory assets/liabilities.

Schedule of Amounts Recognized in Other Comprehensive Income and Regulatory Assets and Liabilities

For PPL's U.S. pension benefits and for other postretirement benefits, the amounts recognized in OCI and regulatory assets/liabilities for the years ended December 31were as follows:

		U.S. Pension Benefits							Other Postretirement Benefits
			2014		2013		2012		2014		2013		2012
OCI		$	343	$	(228)	$	181	$	7	$	(41)	$	12
Regulatory assets/liabilities			199		(193)		114		21		(36)		(7)
Total recognized in OCI and
	regulatory assets/liabilities	$	542	$	(421)	$	295	$	28	$	(77)	$	5

Schedule of Amounts to be Amortized from AOCI and Regulatory Assets/Liabilities in Next Fiscal Year

The estimated amounts to be amortized from AOCI and regulatory assets/liabilities into net periodic defined benefit costs in 2015 are as follows:

	Pension Benefits
	U.S.		U.K.
Prior service cost (credit)	$	7
Actuarial (gain) loss		100	$	162
Total	$	107	$	162
Amortization from Balance Sheet:
AOCI	$	49	$	162
Regulatory assets/liabilities		58
Total	$	107	$	162

Schedule of Net Periodic Defined Benefit Costs Included in Income Statement

The following net periodic defined benefit costs (credits) were charged to operating expense, excluding amounts charged to construction and other non-expense accounts. The U.K. pension benefits apply to PPL only.

	Pension Benefits
	U.S.						U.K.						Other Postretirement Benefits
	2014		2013		2012		2014		2013		2012		2014		2013		2012
PPL	$	84	$	117	$	119	$	(9)	$	33	$	25	$	13	$	19	$	22
PPL Energy Supply		39		45		37								3		6		6
PPL Electric (a)		12		18		19								2		3		3

LKE	17	32	31	7	8	9
LG&E	5	14	13	4	4	5
KU (a)	3	9	8	2	2	3

(a)PPL Electric and KU do not directly sponsor any defined benefit plans. PPL Electric and KU were allocated these costs of defined benefit plans sponsored by PPL Services (for PPL Electric) and by LKE (for KU), based on their participation in those plans, which management believes are reasonable.

Defined Benefit Plan Assumptions and Impact of One Point Change on Postretirement Plans

The following weighted-average assumptions were used in the valuation of the benefit obligations at December 31.

		Pension Benefits
		U.S.				U.K.				Other Postretirement Benefits
		2014		2013		2014		2013		2014		2013
PPL
	Discount rate		4.25%		5.12%		3.85%		4.41%		4.08%		4.91%
	Rate of compensation increase		3.92%		3.97%		4.00%		4.00%		3.86%		3.96%
PPL Energy Supply
	Discount rate		4.28%		5.18%						3.81%		4.51%
	Rate of compensation increase		4.03%		3.94%						4.03%		3.94%
LKE
	Discount rate		4.25%		5.18%						4.06%		4.91%
	Rate of compensation increase		3.50%		4.00%						3.50%		4.00%
LG&E
	Discount rate		4.20%		5.13%

		Pension Benefits
		U.S.						U.K.						Other Postretirement Benefits
		2014		2013		2012		2014		2013		2012		2014		2013		2012
PPL
	Discount rate		5.12%		4.22%		5.06%		4.41%		4.27%		5.24%		4.91%		4.00%		4.80%
	Rate of compensation increase		3.97%		3.98%		4.02%		4.00%		4.00%		4.00%		3.96%		3.97%		4.00%
	Expected return on plan assets (a)		7.00%		7.03%		7.07%		7.19%		7.16%		7.17%		5.96%		5.94%		5.99%
PPL Energy Supply
	Discount rate		5.18%		4.25%		5.12%								4.51%		3.77%		4.60%
	Rate of compensation increase		3.94%		3.95%		4.00%								3.94%		3.95%		4.00%
	Expected return on plan assets (a)		7.00%		7.00%		7.00%								N/A		N/A		N/A
LKE
	Discount rate		5.18%		4.24%		5.09%								4.91%		3.99%		4.78%
	Rate of compensation increase		4.00%		4.00%		4.00%								4.00%		4.00%		4.00%
	Expected return on plan assets (a)		7.00%		7.10%		7.25%								6.75%		6.76%		7.02%
LG&E
	Discount rate		5.13%		4.20%		5.00%
	Expected return on plan assets (a)		7.00%		7.10%		7.25%

(a)The expected long-term rates of return for pension and other postretirement benefits are based on management's projections using a best-estimate of expected returns, volatilities and correlations for each asset class. Each plan's specific current and expected asset allocations are also considered in developing a reasonable return assumption.

(PPL, PPLEnergy Supply and LKE)

The following table provides the assumed health care cost trend rates for the years ended December31:

			2014		2013		2012
PPL, PPL Energy Supply and LKE
	Health care cost trend rate assumed for next year
		- obligations		7.2%		7.6%		8.0%
		- cost		7.6%		8.0%		8.5%
	Rate to which the cost trend rate is assumed to decline (the ultimate trend rate)
		- obligations		5.0%		5.0%		5.5%
		- cost		5.0%		5.5%		5.5%
	Year that the rate reaches the ultimate trend rate
		- obligations		2020		2020		2019
		- cost		2020		2019		2019

A one percentage point change in the assumed health care costs trend rate assumption would have had the following effects on the other postretirement benefit plans in 2014:

		One Percentage Point
		Increase		Decrease
Effect on accumulated postretirement benefit obligation
	PPL	$	5	$	(5)
	LKE		4		(4)

Schedule of Funded Status of Defined Benefit Plans

The funded status of PPL's plans at December 31 was as follows:

			Pension Benefits
			U.S.				U.K.				Other Postretirement Benefits
			2014		2013		2014		2013		2014		2013
Change in Benefit Obligation
Benefit Obligation, beginning of period			$	4,591	$	5,046	$	8,143	$	7,888	$	662	$	722
		Service cost		102		126		71		69		12		14
		Interest cost		233		213		354		320		32		29
		Participant contributions						16		15		12		12
		Plan amendments		(7)								6		(4)
		Actuarial (gain) loss		925		(540)		747		46		58		(54)
		Curtailments										(1)
		Termination benefits		13						3
		Gross benefits paid (a)		(248)		(254)		(411)		(375)		(56)		(57)
		Federal subsidy										1
		Currency conversion						(397)		177
Benefit Obligation, end of period				5,609		4,591		8,523		8,143		726		662
Change in Plan Assets
Plan assets at fair value, beginning of period				4,156		3,939		7,284		6,911		446		421
		Actual return on plan assets		622		72		895		438		62		37
		Employer contributions		102		399		311		134		16		30
		Participant contributions						16		15		12		12
		Gross benefits paid (a)		(248)		(254)		(411)		(375)		(52)		(54)
		Currency conversion						(361)		161
Plan assets at fair value, end of period				4,632		4,156		7,734		7,284		484		446
Funded Status, end of period			$	(977)	$	(435)	$	(789)	$	(859)	$	(242)	$	(216)
Amounts recognized in the Balance
	Sheets consist of:
		Noncurrent asset									$	1
		Current liability	$	(10)	$	(8)	$	(1)				(4)	$	(1)
		Noncurrent liability		(967)		(427)		(788)	$	(859)		(239)		(215)
Net amount recognized, end of period			$	(977)	$	(435)	$	(789)	$	(859)	$	(242)	$	(216)
Amounts recognized in AOCI and
	regulatory assets/liabilities (pre-tax)
	consist of:
Prior service cost (credit)			$	41	$	69					$	(4)	$	(11)
Net actuarial (gain) loss				1,412		842	$	2,334	$	2,112		54		33
Total (b)			$	1,453	$	911	$	2,334	$	2,112	$	50	$	22
Total accumulated benefit obligation
	for defined benefit pension plans		$	5,156	$	4,191	$	7,867	$	7,542

(a)Certain U.S. pension plans offered a limited-time program in 2014 and 2013 during which terminated vested participants could elect to receive their accrued pension benefit as a one-time lump sum payment. Gross benefits paid includes $33 million and $64million of lump-sum cash payments made to terminated vested participants in 2014 and 2013 in connection with these offerings.

(b)WPD is not subject to accounting for the effects of certain types of regulation as prescribed by GAAP. As a result, WPD does not record regulatory assets/liabilities.

For PPL's U.S. pension and other postretirement benefit plans, the amounts recognized in AOCIand regulatory assets/liabilities at December 31 were as follows:

	U.S. Pension Benefits				Other Postretirement Benefits
	2014		2013		2014		2013
AOCI	$	773	$	430	$	26	$	19
Regulatory assets/liabilities		680		481		24		3
Total	$	1,453	$	911	$	50	$	22

Schedule of Projected or Accumulated Benefit Obligations In Excess of Plan Assets

The following tables provide information on pension plans where the projected benefit obligation(PBO) or accumulated benefit obligation (ABO) exceed the fair value of plan assets:

	U.S.				U.K.
	PBO in excess of plan assets				PBO in excess of plan assets
		2014		2013		2014		2013
Projected benefit obligation	$	5,609	$	4,591	$	8,523	$	8,143
Fair value of plan assets		4,632		4,156		7,734		7,284
	U.S.				U.K.
	ABO in excess of plan assets				ABO in excess of plan assets
		2014		2013		2014		2013
Accumulated benefit obligation	$	5,156	$	572	$	3,592	$	3,441
Fair value of plan assets		4,632		431		3,321		3,131

Contributions Made to Multiemployer Plans

The table below details total contributions to all multiemployer pension and other postretirement plans, including the plan identified as significant above.

	2014		2013		2012
Pension Plans	$	40	$	36	$	31
Other Postretirement Benefit Plans		33		32		28
Total Contributions	$	73	$	68	$	59

Schedules of Asset Allocation of U.S. Pension Trusts Assets

The asset allocation for the trust and the target allocation by portfolio at December 31 are as follows:

					2014 Target Asset Allocation (a)
		Percentage of trust assets				Weighted
			2014 (a)	2013		Average	PPL Plans	LKE Plans
Growth Portfolio			51%	59%		52%	52%	52%
	Equity securities		26%	30%
	Debt securities (b)		13%	17%
	Alternative investments		12%	12%
Immunizing Portfolio			47%	39%		46%	46%	46%
	Debt securities (b)		44%	40%
	Derivatives		3%	(1%)
Liquidity Portfolio			2%	2%		2%	2%	2%
Total			100%	100%		100%	100%	100%

(a)Allocations exclude consideration of cash for the WKE Bargaining Employees' Retirement Plan and a group annuity contract held by the LG&E and KU Retirement Plan.

(b)Includes commingled debt funds, which PPL treats as debt securities for asset allocation purposes.

Schedule of Fair Value of Financial Assets for U.S. Pension Plan Assets

The fair value of net assets in the Master Trust by asset class and level within the fair value hierarchy was:

				December 31, 2014								December 31, 2013
						Fair Value Measurements Using								Fair Value Measurements Using
				Total		Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3
PPL Services Corporation Master Trust
Cash and cash equivalents				$	246	$	246					$	120	$	120
Equity securities:
		U.S.:
			Large-cap		432		114	$	318				480		134	$	346
			Small-cap		145		145						137		137
		International			615				615				630		163		467
		Commingled debt			818				818				749		13		736
Debt securities:
		U.S. Treasury and U.S. government sponsored
			agency		723		706		17				617		563		54
		Residential/commercial backed securities			2				2				12				11	$	1
		Corporate			1,109				1,088	$	21		963				940		23
		International government			8				8				7				7
		Other			9				9				24				24
Alternative investments:
		Commodities			90				90				108				108
		Real estate			148				148				134				134
		Private equity			104						104		80						80
		Hedge funds			223				223				210				210
Derivatives:
		Interest rate swaps and swaptions			92				92				(49)				(49)
		Other			12				12				12				12
Insurance contracts					33						33		37						37
PPL Services Corporation Master Trust assets, at
	fair value				4,809	$	1,211	$	3,440	$	158		4,271	$	1,130	$	3,000	$	141
Receivables and payables, net (a)					(41)
401(h) accounts restricted for other
	postretirement benefit obligations				(136)								(115)
Total PPL Services Corporation Master Trust
	pension assets			$	4,632							$	4,156

(a)Receivables and payables represent amounts for investments sold/purchased but not yet settled along with interest and dividends earned but not yet received.

Reconciliation of U.S. Pension Trust Assets Classified as Level 3 Included in Earnings

A reconciliation of the Master Trust assets classified as Level 3 at December 31, 2014 is as follows:

				Residential/
				commercial
				backed		Corporate		Private		Insurance
				securities		debt		equity		contracts		Total
Balance at beginning of period				$	1	$	23	$	80	$	37	$	141
	Actual return on plan assets
		Relating to assets still held
			at the reporting date		(1)		(1)		19		1		18
		Relating to assets sold during the period					(1)						(1)
	Purchases, sales and settlements								5		(5)
Balance at end of period				$		$	21	$	104	$	33	$	158

A reconciliation of the Master Trust assets classified as Level 3 at December 31, 2013 is as follows:

				Residential/
				commercial
				backed		Corporate		Private		Insurance		Other
				securities		debt		equity		contracts		debt		Total
Balance at beginning of period				$	1	$	27	$	75	$	42	$	1	$	146
	Actual return on plan assets
		Relating to assets still held
			at the reporting date						3		2				5
		Relating to assets sold during the period					5								5
	Purchases, sales and settlements						(9)		2		(7)				(14)
	Transfers from level 3 to level 2												(1)		(1)
Balance at end of period				$	1	$	23	$	80	$	37	$		$	141

Schedules of Target Allocation of U.S. Other Postretirement Benefit Plans VEBA Trust

The asset allocation for the PPL VEBA trusts, excluding LKE, and the target allocation, by asset class, at December 31 are detailed below.

						Target Asset
		Percentage of plan assets				Allocation
		2014		2013		2014
Asset Class
U.S. Equity securities			49%		55%		45%
Debt securities (a)			49%		41%		50%
Cash and cash equivalents (b)			2%		4%		5%
	Total		100%		100%		100%

(a)Includes commingled debt funds and debt securities.

(b)Includes money market funds.

Schedule of Fair Value of Financial Assets for U.S. Postretirement Benefits

The fair value of assets in the U.S. other postretirement benefit plans by asset class and level within the fair value hierarchy was:

			December 31, 2014							December 31, 2013
					Fair Value Measurement Using							Fair Value Measurement Using
			Total		Level 1		Level 2		Level 3	Total		Level 1		Level 2		Level 3
Money market funds			$	9	$	9				$	12	$	12
U.S. Equity securities:
		Large-cap		169			$	169			182			$	182
		Commingled debt		136				136			100				100
Debt securities:
		Municipalities		33				33			36				36
Total VEBA trust assets, at fair value				347	$	9	$	338			330	$	12	$	318
Receivables and payables, net (a)				1							1
401(h) account assets				136							115
Total other postretirement benefit plan
	assets		$	484						$	446

(a)Receivables and payables represent amounts for investments sold/purchased but not yet settled along with interest and dividends earned but not yet received.

Schedules of Asset Allocation of U.K. Pension Plan Assets

The asset allocation and target allocation at December 31 of WPD's pension plans are detailed below.

						Target Asset
		Percentage of plan assets				Allocation
		2014		2013		2014
Asset Class
Cash and cash equivalents			1%
Equity securities
	U.K.		3%		7%		3%
	European (excluding the U.K.)		3%		5%		3%
	Asian-Pacific		2%		3%		2%
	North American		3%		5%		3%
	Emerging markets		9%		8%		9%
	Currency		2%		7%		3%
	Global Tactical Asset Allocation		29%		19%		30%
Debt securities (a)			42%		40%		41%
Alternative investments			6%		6%		6%
	Total		100%		100%		100%

(a)Includes commingled debt funds.

Schedule of Fair Value of Financial Assets for U.K. Pension Plan Assets

The fair value of assets in the U.K. pension plans by asset class and level within the fair value hierarchy was:

			December 31, 2014							December 31, 2013
					Fair Value Measurement Using							Fair Value Measurement Using
			Total		Level 1		Level 2		Level 3	Total		Level 1		Level 2		Level 3
Cash and cash equivalents			$	57	$	57				$	10	$	10
Equity securities:
	U.K. companies			239			$	239			523		267	$	256
	European companies (excluding the U.K.)			198				198			355		275		80
	Asian-Pacific companies			142				142			226		180		46
	North American companies			227				227			352		254		98
	Emerging markets companies			309				309			411		126		285
	Global Equities			397				397			161				161
	Currency			190				190			485				485
	Global Tactical Asset Allocation			2,263				2,263			1,384				1,384
	Commingled debt:
		U.K. corporate bonds		436				436			504				504
		U.K. gilts		2,840				2,840			2,426				2,426
Alternative investments:
	Real estate			436				436			447				447
Fair value - U.K. pension plans			$	7,734	$	57	$	7,677		$	7,284	$	1,112	$	6,172

Schedule of Expected Cash Flows - U.S. Defined Benefit Plans - Expected Payments and Related Federal Subsidy

The following benefit payments, which reflect expected future service, as appropriate, are expected to be paid by the plans and the following federal subsidy payments are expected to be received by PPL.

			Other Postretirement
					Expected
			Benefit		Federal
		Pension	Payment		Subsidy
2015	$	268	$	54	$	1
2016		279		56		1
2017		294		58		1
2018		308		60		1
2019		323		62		1
2020-2024		1,749		326		3

Schedule of Expected Cash Flows - U.K. Pension Plans - Expected Payments

The following benefit payments, which reflect expected future service, as appropriate, are expected to be paid by the plans.

	Pension
2015	$	386
2016		391
2017		395
2018		403
2019		409
2020-2024		2,118

Expected Employer Contributions to U.S. Savings Plans

Substantially all employees of PPL's domestic subsidiaries are eligible to participate in deferred savings plans (401(k)s). Employer contributions to the plans were:

	2014		2013		2012
PPL	$	47	$	41	$	36
PPL Energy Supply		14		12		12
PPL Electric		6		6		5

LKE	15	13	12
LG&E	5	7	6
KU	4	6	6

PPL Energy Supply LLC [Member]

Defined Benefit Plan Disclosure [Line Items]

Schedule Of Net Periodic Defined Benefit Costs (Credits)

The following table provides the components of net periodic defined benefit costs for PPL Energy Supply's pension and other postretirement benefit plans for the years ended December 31.

			Pension Benefits						Other Postretirement Benefits
			2014		2013		2012		2014		2013		2012
Net periodic defined benefit costs
(credits):
Service cost			$	5	$	7	$	6			$	1	$	1
Interest cost				9		8		7	$	1				1
Expected return on plan assets				(11)		(10)		(9)
Amortization of:
		Actuarial (gain) loss		2		3		2
Curtailment charges (credits)										(1)
Net periodic defined benefit costs
	(credits)		$	5	$	8	$	6	$		$	1	$	2
Other Changes in Plan Assets
	and Benefit Obligations
	Recognized in OCI:
Curtailments									$	1
Net (gain) loss			$	26	$	(15)	$	16		(1)	$	(1)
Prior service cost (credit)												(3)	$	(1)
Amortization of:
		Actuarial gain (loss)		(2)		(3)		(2)
Total recognized in OCI				24		(18)		14				(4)		(1)
Total recognized in net periodic
	defined benefit costs and OCI		$	29	$	(10)	$	20	$		$	(3)	$	1

Schedule of Net Periodic Defined Benefit Costs Included in Income Statement

In the table above, for PPL Energy Supply and LG&E,amounts include costs for the specific plans each sponsors and the following allocated costs of defined benefit plans sponsored by PPL Services (for PPL Energy Supply) and by LKE (for LG&E), based on their participation in those plans, which management believes are reasonable:

	Pension Benefits							Other Postretirement Benefits
		2014		2013		2012		2014		2013		2012
PPL Energy Supply	$	34	$	38	$	31	$	3	$	5	$	5

LG&E 2 5 5 4 4 5

Defined Benefit Plan Assumptions and Impact of One Point Change on Postretirement Plans

The following weighted-average assumptions were used in the valuation of the benefit obligations at December 31.

		Pension Benefits
		U.S.				U.K.				Other Postretirement Benefits
		2014		2013		2014		2013		2014		2013
PPL
	Discount rate		4.25%		5.12%		3.85%		4.41%		4.08%		4.91%
	Rate of compensation increase		3.92%		3.97%		4.00%		4.00%		3.86%		3.96%
PPL Energy Supply
	Discount rate		4.28%		5.18%						3.81%		4.51%
	Rate of compensation increase		4.03%		3.94%						4.03%		3.94%
LKE
	Discount rate		4.25%		5.18%						4.06%		4.91%
	Rate of compensation increase		3.50%		4.00%						3.50%		4.00%
LG&E
	Discount rate		4.20%		5.13%

The following weighted-average assumptions were used to determine the net periodic defined benefit costs for the years ended December 31.

		Pension Benefits
		U.S.						U.K.						Other Postretirement Benefits
		2014		2013		2012		2014		2013		2012		2014		2013		2012
PPL
	Discount rate		5.12%		4.22%		5.06%		4.41%		4.27%		5.24%		4.91%		4.00%		4.80%
	Rate of compensation increase		3.97%		3.98%		4.02%		4.00%		4.00%		4.00%		3.96%		3.97%		4.00%
	Expected return on plan assets (a)		7.00%		7.03%		7.07%		7.19%		7.16%		7.17%		5.96%		5.94%		5.99%
PPL Energy Supply
	Discount rate		5.18%		4.25%		5.12%								4.51%		3.77%		4.60%
	Rate of compensation increase		3.94%		3.95%		4.00%								3.94%		3.95%		4.00%
	Expected return on plan assets (a)		7.00%		7.00%		7.00%								N/A		N/A		N/A
LKE
	Discount rate		5.18%		4.24%		5.09%								4.91%		3.99%		4.78%
	Rate of compensation increase		4.00%		4.00%		4.00%								4.00%		4.00%		4.00%
	Expected return on plan assets (a)		7.00%		7.10%		7.25%								6.75%		6.76%		7.02%
LG&E
	Discount rate		5.13%		4.20%		5.00%
	Expected return on plan assets (a)		7.00%		7.10%		7.25%

(a)The expected long-term rates of return for pension and other postretirement benefits are based on management's projections using a best-estimate of expected returns, volatilities and correlations for each asset class. Each plan's specific current and expected asset allocations are also considered in developing a reasonable return assumption.

(PPL, PPLEnergy Supply and LKE)

The following table provides the assumed health care cost trend rates for the years ended December31:

			2014		2013		2012
PPL, PPL Energy Supply and LKE
	Health care cost trend rate assumed for next year
		- obligations		7.2%		7.6%		8.0%
		- cost		7.6%		8.0%		8.5%
	Rate to which the cost trend rate is assumed to decline (the ultimate trend rate)
		- obligations		5.0%		5.0%		5.5%
		- cost		5.0%		5.5%		5.5%
	Year that the rate reaches the ultimate trend rate
		- obligations		2020		2020		2019
		- cost		2020		2019		2019

Schedule of Funded Status of Defined Benefit Plans

(PPL Energy Supply)
The funded status of PPL Energy Supply's plans at December 31 was as follows:
			Pension Benefits				Other Postretirement Benefits
			2014		2013		2014		2013
Change in Benefit Obligation
Benefit Obligation, beginning of period			$	163	$	176	$	12	$	17
		Service cost		5		7				1
		Interest cost		9		8		1
		Plan amendments								(4)
		Actuarial (gain) loss		38		(23)		(1)		(1)
		Curtailments						(1)
		Gross benefits paid		(5)		(5)		(1)		(1)
Benefit Obligation, end of period				210		163		10		12
Change in Plan Assets
Plan assets at fair value, beginning of
	period			147		149
		Actual return on plan assets		22		3
		Employer contributions		6				1		1
		Gross benefits paid		(5)		(5)		(1)		(1)
Plan assets at fair value, end of period				170		147
Funded Status, end of period			$	(40)	$	(16)	$	(10)	$	(12)
Amounts recognized in the Balance
	Sheets consist of:
		Current liability					$	(1)	$	(1)
		Noncurrent liability	$	(40)	$	(16)		(9)		(11)
Net amount recognized, end of period			$	(40)	$	(16)	$	(10)	$	(12)
Amounts recognized in AOCI
	(pre-tax) consist of:
Prior service cost (credit)							$	(4)	$	(5)
Net actuarial (gain) loss			$	59	$	34				1
Total			$	59	$	34	$	(4)	$	(4)
Total accumulated benefit obligation
	for defined benefit pension plans		$	210	$	163

Allocations to PPL Energy Supply resulted in liabilities at December 31 as follows:

	2014		2013
Pension	$	259	$	96
Other postretirement benefits		34		35

Contributions Made to Multiemployer Plans

The table below details total contributions to all multiemployer pension and other postretirement plans, including the plan identified as significant above.

	2014		2013		2012
Pension Plans	$	40	$	36	$	31
Other Postretirement Benefit Plans		33		32		28
Total Contributions	$	73	$	68	$	59

Schedules of Asset Allocation of U.S. Pension Trusts Assets

The asset allocation for the trust and the target allocation by portfolio at December 31 are as follows:

					2014 Target Asset Allocation (a)
		Percentage of trust assets				Weighted
			2014 (a)	2013		Average	PPL Plans	LKE Plans
Growth Portfolio			51%	59%		52%	52%	52%
	Equity securities		26%	30%
	Debt securities (b)		13%	17%
	Alternative investments		12%	12%
Immunizing Portfolio			47%	39%		46%	46%	46%
	Debt securities (b)		44%	40%
	Derivatives		3%	(1%)
Liquidity Portfolio			2%	2%		2%	2%	2%
Total			100%	100%		100%	100%	100%

(a)Allocations exclude consideration of cash for the WKE Bargaining Employees' Retirement Plan and a group annuity contract held by the LG&E and KU Retirement Plan.

(b)Includes commingled debt funds, which PPL treats as debt securities for asset allocation purposes.

Schedule of Fair Value of Financial Assets for U.S. Pension Plan Assets

The fair value of net assets in the Master Trust by asset class and level within the fair value hierarchy was:

				December 31, 2014								December 31, 2013
						Fair Value Measurements Using								Fair Value Measurements Using
				Total		Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3
PPL Services Corporation Master Trust
Cash and cash equivalents				$	246	$	246					$	120	$	120
Equity securities:
		U.S.:
			Large-cap		432		114	$	318				480		134	$	346
			Small-cap		145		145						137		137
		International			615				615				630		163		467
		Commingled debt			818				818				749		13		736
Debt securities:
		U.S. Treasury and U.S. government sponsored
			agency		723		706		17				617		563		54
		Residential/commercial backed securities			2				2				12				11	$	1
		Corporate			1,109				1,088	$	21		963				940		23
		International government			8				8				7				7
		Other			9				9				24				24
Alternative investments:
		Commodities			90				90				108				108
		Real estate			148				148				134				134
		Private equity			104						104		80						80
		Hedge funds			223				223				210				210
Derivatives:
		Interest rate swaps and swaptions			92				92				(49)				(49)
		Other			12				12				12				12
Insurance contracts					33						33		37						37
PPL Services Corporation Master Trust assets, at
	fair value				4,809	$	1,211	$	3,440	$	158		4,271	$	1,130	$	3,000	$	141
Receivables and payables, net (a)					(41)
401(h) accounts restricted for other
	postretirement benefit obligations				(136)								(115)
Total PPL Services Corporation Master Trust
	pension assets			$	4,632							$	4,156

(a)Receivables and payables represent amounts for investments sold/purchased but not yet settled along with interest and dividends earned but not yet received.

Reconciliation of U.S. Pension Trust Assets Classified as Level 3 Included in Earnings

A reconciliation of the Master Trust assets classified as Level 3 at December 31, 2014 is as follows:

				Residential/
				commercial
				backed		Corporate		Private		Insurance
				securities		debt		equity		contracts		Total
Balance at beginning of period				$	1	$	23	$	80	$	37	$	141
	Actual return on plan assets
		Relating to assets still held
			at the reporting date		(1)		(1)		19		1		18
		Relating to assets sold during the period					(1)						(1)
	Purchases, sales and settlements								5		(5)
Balance at end of period				$		$	21	$	104	$	33	$	158

A reconciliation of the Master Trust assets classified as Level 3 at December 31, 2013 is as follows:

				Residential/
				commercial
				backed		Corporate		Private		Insurance		Other
				securities		debt		equity		contracts		debt		Total
Balance at beginning of period				$	1	$	27	$	75	$	42	$	1	$	146
	Actual return on plan assets
		Relating to assets still held
			at the reporting date						3		2				5
		Relating to assets sold during the period					5								5
	Purchases, sales and settlements						(9)		2		(7)				(14)
	Transfers from level 3 to level 2												(1)		(1)
Balance at end of period				$	1	$	23	$	80	$	37	$		$	141

Schedule of Expected Cash Flows - U.S. Defined Benefit Plans - Expected Payments and Related Federal Subsidy

The following benefit payments, which reflect expected future service, as appropriate, are expected to be paid by the plans.

			Other
	Pension		Postretirement
2015	$	5	$	1
2016		7		1
2017		7		1
2018		8		2
2019		9		2
2020-2024		58		9

PPL Electric Utilities Corp [Member]

Defined Benefit Plan Disclosure [Line Items]

Schedule of Funded Status of Defined Benefit Plans

Allocations toPPL Electric resulted in liabilities atDecember 31 as follows.

	2014		2013
Pension	$	212	$	96
Other postretirement benefits		40		41

LG And E And KU Energy LLC [Member]

Defined Benefit Plan Disclosure [Line Items]

Schedule Of Net Periodic Defined Benefit Costs (Credits)

The following table provides the components of net periodic defined benefit costs for LKE’s pension and other postretirement benefit plans for the years ended December 31.

			Pension Benefits						Other Postretirement Benefits
			2014		2013		2012		2014		2013		2012
Net periodic defined benefit costs
	(credits):
Service cost			$	21	$	26	$	22	$	4	$	5	$	4
Interest cost				66		62		64		9		8		9
Expected return on plan assets				(82)		(82)		(70)		(4)		(5)		(4)
Amortization of:
		Transition (asset) obligation												2
		Prior service cost (credit)		5		5		5		2		3		3
		Actuarial (gain) loss		12		33		22		(1)				(1)
Net periodic defined benefit costs
	(credit)		$	22	$	44	$	43	$	10	$	11	$	13
Other Changes in Plan Assets
	and Benefit Obligations
	Recognized in OCI and
	Regulatory Assets/Liabilities -
	Gross:
Net (gain) loss			$	162	$	(116)	$	96	$	26	$	(14)	$	(11)
Prior service cost (credit)				23						6
Amortization of:
		Transition asset (obligation)												(2)
		Prior service (cost) credit		(5)		(5)		(5)		(2)		(3)		(3)
		Actuarial gain (loss)		(12)		(33)		(22)		1				1
Total recognized in OCI and
	regulatory assets/liabilities			168		(154)		69		31		(17)		(15)
Total recognized in net periodic
	defined benefit costs, OCI and
	regulatory assets/liabilities		$	190	$	(110)	$	112	$	41	$	(6)	$	(2)

Schedule of Amounts Recognized in Other Comprehensive Income and Regulatory Assets and Liabilities

For LKE's pension and other postretirement benefits, the amounts recognized in OCI and regulatory assets/liabilities for the years ended December 31 were as follows:

		Pension Benefits						Other Postretirement Benefits
		2014		2013		2012		2014		2013		2012
OCI		$	84	$	(46)	$	34	$	9	$	(1)	$	(1)
Regulatory assets/liabilities			84		(108)		35		22		(16)		(14)
Total recognized in OCI and
	regulatory assets/liabilities	$	168	$	(154)	$	69	$	31	$	(17)	$	(15)

Schedule of Amounts to be Amortized from AOCI and Regulatory Assets/Liabilities in Next Fiscal Year

The estimated amounts to be amortized from AOCI and regulatory assets/liabilities into net periodic defined benefit costs for LKE in 2015 are as follows.

			Other
	Pension		Postretirement
	Benefits		Benefits
Prior service cost (credit)	$	7	$	3
Actuarial (gain) loss		34
Total	$	41	$	3
Amortization from Balance Sheet:
AOCI	$	3	$	1
Regulatory assets/liabilities		38		2
Total	$	41	$	3

Defined Benefit Plan Assumptions and Impact of One Point Change on Postretirement Plans

The following weighted-average assumptions were used in the valuation of the benefit obligations at December 31.

		Pension Benefits
		U.S.				U.K.				Other Postretirement Benefits
		2014		2013		2014		2013		2014		2013
PPL
	Discount rate		4.25%		5.12%		3.85%		4.41%		4.08%		4.91%
	Rate of compensation increase		3.92%		3.97%		4.00%		4.00%		3.86%		3.96%
PPL Energy Supply
	Discount rate		4.28%		5.18%						3.81%		4.51%
	Rate of compensation increase		4.03%		3.94%						4.03%		3.94%
LKE
	Discount rate		4.25%		5.18%						4.06%		4.91%
	Rate of compensation increase		3.50%		4.00%						3.50%		4.00%
LG&E
	Discount rate		4.20%		5.13%

The following weighted-average assumptions were used to determine the net periodic defined benefit costs for the years ended December 31.

		Pension Benefits
		U.S.						U.K.						Other Postretirement Benefits
		2014		2013		2012		2014		2013		2012		2014		2013		2012
PPL
	Discount rate		5.12%		4.22%		5.06%		4.41%		4.27%		5.24%		4.91%		4.00%		4.80%
	Rate of compensation increase		3.97%		3.98%		4.02%		4.00%		4.00%		4.00%		3.96%		3.97%		4.00%
	Expected return on plan assets (a)		7.00%		7.03%		7.07%		7.19%		7.16%		7.17%		5.96%		5.94%		5.99%
PPL Energy Supply
	Discount rate		5.18%		4.25%		5.12%								4.51%		3.77%		4.60%
	Rate of compensation increase		3.94%		3.95%		4.00%								3.94%		3.95%		4.00%
	Expected return on plan assets (a)		7.00%		7.00%		7.00%								N/A		N/A		N/A
LKE
	Discount rate		5.18%		4.24%		5.09%								4.91%		3.99%		4.78%
	Rate of compensation increase		4.00%		4.00%		4.00%								4.00%		4.00%		4.00%
	Expected return on plan assets (a)		7.00%		7.10%		7.25%								6.75%		6.76%		7.02%
LG&E
	Discount rate		5.13%		4.20%		5.00%
	Expected return on plan assets (a)		7.00%		7.10%		7.25%

(a)The expected long-term rates of return for pension and other postretirement benefits are based on management's projections using a best-estimate of expected returns, volatilities and correlations for each asset class. Each plan's specific current and expected asset allocations are also considered in developing a reasonable return assumption.

(PPL, PPLEnergy Supply and LKE)

The following table provides the assumed health care cost trend rates for the years ended December31:

			2014		2013		2012
PPL, PPL Energy Supply and LKE
	Health care cost trend rate assumed for next year
		- obligations		7.2%		7.6%		8.0%
		- cost		7.6%		8.0%		8.5%
	Rate to which the cost trend rate is assumed to decline (the ultimate trend rate)
		- obligations		5.0%		5.0%		5.5%
		- cost		5.0%		5.5%		5.5%
	Year that the rate reaches the ultimate trend rate
		- obligations		2020		2020		2019
		- cost		2020		2019		2019

A one percentage point change in the assumed health care costs trend rate assumption would have had the following effects on the other postretirement benefit plans in 2014:

		One Percentage Point
		Increase		Decrease
Effect on accumulated postretirement benefit obligation
	PPL	$	5	$	(5)
	LKE		4		(4)

Schedule of Funded Status of Defined Benefit Plans

The funded status of LKE's plans at December 31 was as follows:

			Pension Benefits				Other Postretirement Benefits
			2014		2013		2014		2013
Change in Benefit Obligation
Benefit Obligation, beginning of period			$	1,328	$	1,487	$	193	$	209
		Service cost		21		26		4		5
		Interest cost		66		62		9		8
		Participant contributions						7		7
		Plan amendments (a)		23				6
		Actuarial (gain) loss		253		(177)		32		(18)
		Gross benefits paid (b)		(83)		(70)		(17)		(18)
Benefit Obligation, end of period				1,608		1,328		234		193
Change in Plan Assets
Plan assets at fair value, beginning of period				1,173		1,070		74		68
		Actual return on plan assets		173		21		10		1
		Employer contributions		38		152		8		16
		Participant contributions						7		7
		Gross benefits paid (b)		(83)		(70)		(17)		(18)
Plan assets at fair value, end of period				1,301		1,173		82		74
Funded Status, end of period			$	(307)	$	(155)	$	(152)	$	(119)
Amounts recognized in the Balance
	Sheets consist of:
		Noncurrent asset					$	2
		Current liability	$	(3)	$	(3)		(3)
		Noncurrent liability		(304)		(152)		(151)	$	(119)
Net amount recognized, end of period			$	(307)	$	(155)	$	(152)	$	(119)
Amounts recognized in AOCI and
	regulatory assets/liabilities (pre-tax)
	consist of:
Prior service cost (credit)			$	43	$	24	$	12	$	8
Net actuarial (gain) loss				354		205		(4)		(30)
Total			$	397	$	229	$	8	$	(22)
Total accumulated benefit obligation
	for defined benefit pension plans		$	1,461	$	1,176

(a)The plans were amended in December2014 to enhance the early retirement factors for all plan participants retiring on or after January 1, 2015. These modifications resulted in an increase of $23 million in the plans’ projected benefit obligations as of December 31, 2014.

(b)Certain LKE pension plans offered a limited-time program in 2014 and 2013 during which terminated vested participants could elect to receive their accrued pension benefit as a one-time lump-sum payment. The gross benefits paid includes $33 million and $21million of lump-sum cash payments made to terminated vested participants in 2014 and 2013 in connection with these offerings.

The amounts recognized in AOCI and regulatory assets/liabilities at December 31 were as follows:

	Pension Benefits				Other Postretirement Benefits
	2014		2013		2014		2013
AOCI	$	65	$	(19)	$	8
Regulatory assets/liabilities		332		248			$	(22)
Total	$	397	$	229	$	8	$	(22)

Schedule of Projected or Accumulated Benefit Obligations In Excess of Plan Assets

The following tables provide information on pension plans where the projected benefit obligation (PBO) or accumulated benefit obligations (ABO) exceed the fair value of plan assets:

	PBO in excess of plan assets
		2014		2013
Projected benefit obligation	$	1,608	$	1,328
Fair value of plan assets		1,301		1,173
	ABO in excess of plan assets
		2014		2013
Accumulated benefit obligation	$	1,461	$	350
Fair value of plan assets		1,301		284

Schedules of Asset Allocation of U.S. Pension Trusts Assets

The asset allocation for the trust and the target allocation by portfolio at December 31 are as follows:

					2014 Target Asset Allocation (a)
		Percentage of trust assets				Weighted
			2014 (a)	2013		Average	PPL Plans	LKE Plans
Growth Portfolio			51%	59%		52%	52%	52%
	Equity securities		26%	30%
	Debt securities (b)		13%	17%
	Alternative investments		12%	12%
Immunizing Portfolio			47%	39%		46%	46%	46%
	Debt securities (b)		44%	40%
	Derivatives		3%	(1%)
Liquidity Portfolio			2%	2%		2%	2%	2%
Total			100%	100%		100%	100%	100%

(a)Allocations exclude consideration of cash for the WKE Bargaining Employees' Retirement Plan and a group annuity contract held by the LG&E and KU Retirement Plan.

(b)Includes commingled debt funds, which PPL treats as debt securities for asset allocation purposes.

Schedule of Fair Value of Financial Assets for U.S. Pension Plan Assets

The fair value of net assets in the Master Trust by asset class and level within the fair value hierarchy was:

				December 31, 2014								December 31, 2013
						Fair Value Measurements Using								Fair Value Measurements Using
				Total		Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3
PPL Services Corporation Master Trust
Cash and cash equivalents				$	246	$	246					$	120	$	120
Equity securities:
		U.S.:
			Large-cap		432		114	$	318				480		134	$	346
			Small-cap		145		145						137		137
		International			615				615				630		163		467
		Commingled debt			818				818				749		13		736
Debt securities:
		U.S. Treasury and U.S. government sponsored
			agency		723		706		17				617		563		54
		Residential/commercial backed securities			2				2				12				11	$	1
		Corporate			1,109				1,088	$	21		963				940		23
		International government			8				8				7				7
		Other			9				9				24				24
Alternative investments:
		Commodities			90				90				108				108
		Real estate			148				148				134				134
		Private equity			104						104		80						80
		Hedge funds			223				223				210				210
Derivatives:
		Interest rate swaps and swaptions			92				92				(49)				(49)
		Other			12				12				12				12
Insurance contracts					33						33		37						37
PPL Services Corporation Master Trust assets, at
	fair value				4,809	$	1,211	$	3,440	$	158		4,271	$	1,130	$	3,000	$	141
Receivables and payables, net (a)					(41)
401(h) accounts restricted for other
	postretirement benefit obligations				(136)								(115)
Total PPL Services Corporation Master Trust
	pension assets			$	4,632							$	4,156

(a)Receivables and payables represent amounts for investments sold/purchased but not yet settled along with interest and dividends earned but not yet received.

Reconciliation of U.S. Pension Trust Assets Classified as Level 3 Included in Earnings

A reconciliation of the Master Trust assets classified as Level 3 at December 31, 2014 is as follows:

				Residential/
				commercial
				backed		Corporate		Private		Insurance
				securities		debt		equity		contracts		Total
Balance at beginning of period				$	1	$	23	$	80	$	37	$	141
	Actual return on plan assets
		Relating to assets still held
			at the reporting date		(1)		(1)		19		1		18
		Relating to assets sold during the period					(1)						(1)
	Purchases, sales and settlements								5		(5)
Balance at end of period				$		$	21	$	104	$	33	$	158

A reconciliation of the Master Trust assets classified as Level 3 at December 31, 2013 is as follows:

				Residential/
				commercial
				backed		Corporate		Private		Insurance		Other
				securities		debt		equity		contracts		debt		Total
Balance at beginning of period				$	1	$	27	$	75	$	42	$	1	$	146
	Actual return on plan assets
		Relating to assets still held
			at the reporting date						3		2				5
		Relating to assets sold during the period					5								5
	Purchases, sales and settlements						(9)		2		(7)				(14)
	Transfers from level 3 to level 2												(1)		(1)
Balance at end of period				$	1	$	23	$	80	$	37	$		$	141

Schedule of Fair Value of Financial Assets for U.S. Postretirement Benefits

The fair value of assets in the U.S. other postretirement benefit plans by asset class and level within the fair value hierarchy was:

			December 31, 2014							December 31, 2013
					Fair Value Measurement Using							Fair Value Measurement Using
			Total		Level 1		Level 2		Level 3	Total		Level 1		Level 2		Level 3
Money market funds			$	9	$	9				$	12	$	12
U.S. Equity securities:
		Large-cap		169			$	169			182			$	182
		Commingled debt		136				136			100				100
Debt securities:
		Municipalities		33				33			36				36
Total VEBA trust assets, at fair value				347	$	9	$	338			330	$	12	$	318
Receivables and payables, net (a)				1							1
401(h) account assets				136							115
Total other postretirement benefit plan
	assets		$	484						$	446

(a)Receivables and payables represent amounts for investments sold/purchased but not yet settled along with interest and dividends earned but not yet received.

Schedule of Expected Cash Flows - U.S. Defined Benefit Plans - Expected Payments and Related Federal Subsidy

The following benefit payments, which reflect expected future service, as appropriate, are expected to be paid by the plans and the following federal subsidy payments are expected to be received by LKE.

			Other Postretirement
					Expected
			Benefit		Federal
		Pension	Payment		Subsidy
2015	$	60	$	14
2016		62		14
2017		67		15	$	1
2018		72		16
2019		77		17
2020-2024		456		88		2

Louisville Gas And Electric Co [Member]

Defined Benefit Plan Disclosure [Line Items]

Schedule Of Net Periodic Defined Benefit Costs (Credits)

The following table provides the components of net periodic defined benefit costs for LG&E’s pension benefit plan for the years ended December 31.

			Pension Benefits
			2014		2013		2012
Net periodic defined benefit costs (credits):
Service cost			$	1	$	2	$	2
Interest cost				15		14		14
Expected return on plan assets				(19)		(20)		(19)
Amortization of:
		Prior service cost (credit)		2		2		3
		Actuarial (gain) loss		6		14		11
Net periodic defined benefit costs (credits)			$	5	$	12	$	11
Other Changes in Plan Assets and Benefit Obligations
	Recognized in Regulatory Assets - Gross:
Net (gain) loss			$	14	$	(20)	$	18
Prior service cost (credit)				9
Amortization of:
		Prior service (cost) credit		(2)		(2)		(2)
		Actuarial gain (loss)		(6)		(14)		(11)
Total recognized in regulatory assets/liabilities				15		(36)		5
Total recognized in net periodic defined benefit costs and regulatory assets			$	20	$	(24)	$	16

Schedule of Amounts to be Amortized from AOCI and Regulatory Assets/Liabilities in Next Fiscal Year

The estimated amounts to be amortized from regulatory assets into net periodic defined benefit costs for LG&E in 2015 are as follows.

	Pension
	Benefits
Prior service cost (credit)	$	3
Actuarial (gain) loss		11
Total	$	14

Schedule of Net Periodic Defined Benefit Costs Included in Income Statement

In the table above, for PPL Energy Supply and LG&E,amounts include costs for the specific plans each sponsors and the following allocated costs of defined benefit plans sponsored by PPL Services (for PPL Energy Supply) and by LKE (for LG&E), based on their participation in those plans, which management believes are reasonable:

	Pension Benefits							Other Postretirement Benefits
		2014		2013		2012		2014		2013		2012
PPL Energy Supply	$	34	$	38	$	31	$	3	$	5	$	5

LG&E 2 5 5 4 4 5

Defined Benefit Plan Assumptions and Impact of One Point Change on Postretirement Plans

The following weighted-average assumptions were used in the valuation of the benefit obligations at December 31.

		Pension Benefits
		U.S.				U.K.				Other Postretirement Benefits
		2014		2013		2014		2013		2014		2013
PPL
	Discount rate		4.25%		5.12%		3.85%		4.41%		4.08%		4.91%
	Rate of compensation increase		3.92%		3.97%		4.00%		4.00%		3.86%		3.96%
PPL Energy Supply
	Discount rate		4.28%		5.18%						3.81%		4.51%
	Rate of compensation increase		4.03%		3.94%						4.03%		3.94%
LKE
	Discount rate		4.25%		5.18%						4.06%		4.91%
	Rate of compensation increase		3.50%		4.00%						3.50%		4.00%
LG&E
	Discount rate		4.20%		5.13%

The following weighted-average assumptions were used to determine the net periodic defined benefit costs for the years ended December 31.

		Pension Benefits
		U.S.						U.K.						Other Postretirement Benefits
		2014		2013		2012		2014		2013		2012		2014		2013		2012
PPL
	Discount rate		5.12%		4.22%		5.06%		4.41%		4.27%		5.24%		4.91%		4.00%		4.80%
	Rate of compensation increase		3.97%		3.98%		4.02%		4.00%		4.00%		4.00%		3.96%		3.97%		4.00%
	Expected return on plan assets (a)		7.00%		7.03%		7.07%		7.19%		7.16%		7.17%		5.96%		5.94%		5.99%
PPL Energy Supply
	Discount rate		5.18%		4.25%		5.12%								4.51%		3.77%		4.60%
	Rate of compensation increase		3.94%		3.95%		4.00%								3.94%		3.95%		4.00%
	Expected return on plan assets (a)		7.00%		7.00%		7.00%								N/A		N/A		N/A
LKE
	Discount rate		5.18%		4.24%		5.09%								4.91%		3.99%		4.78%
	Rate of compensation increase		4.00%		4.00%		4.00%								4.00%		4.00%		4.00%
	Expected return on plan assets (a)		7.00%		7.10%		7.25%								6.75%		6.76%		7.02%
LG&E
	Discount rate		5.13%		4.20%		5.00%
	Expected return on plan assets (a)		7.00%		7.10%		7.25%

(a)The expected long-term rates of return for pension and other postretirement benefits are based on management's projections using a best-estimate of expected returns, volatilities and correlations for each asset class. Each plan's specific current and expected asset allocations are also considered in developing a reasonable return assumption.

Schedule of Funded Status of Defined Benefit Plans

(LG&E)

The funded status of LG&E's plan at December 31, was as follows:

			Pension Benefits
			2014		2013
Change in Benefit Obligation
Benefit Obligation, beginning of period			$	291	$	331
		Service cost		1		2
		Interest cost		15		14
		Plan amendments (a)		9
		Actuarial (gain) loss		36		(35)
		Gross benefits paid (b)		(21)		(21)
Benefit Obligation, end of period				331		291
Change in Plan Assets
Plan assets at fair value, beginning of period				281		287
		Actual return on plan assets		41		4
		Employer contributions				11
		Gross benefits paid (b)		(21)		(21)
Plan assets at fair value, end of period				301		281
Funded Status, end of period			$	(30)	$	(10)
Amounts recognized in the Balance Sheets consist of:
		Noncurrent liability	$	(30)	$	(10)
Net amount recognized, end of period			$	(30)	$	(10)
Amounts recognized in regulatory assets (pre-tax)
	consist of:
Prior service cost (credit)			$	22	$	15
Net actuarial (gain) loss				98		90
Total			$	120	$	105
Total accumulated benefit obligation for defined benefit pension plan			$	330	$	288

(a)The plan was amended in December2014 to enhance the early retirement factors for all plan participants retiring on or after January 1, 2015.  This modification resulted in an increase of $9 million in the plan’s projected benefit obligation as of December 31, 2014.

(b)LG&E's pension plan offered a limited-time program in 2014 and 2013 during which terminated vested participants could elect to receive their accrued pension benefit as a one-time lump-sum payment. The gross benefits paid includes $8 million and $7million of lump-sum cash payments made to terminated vested participants in 2014 and 2013 in connection with these offerings.

Allocations to LG&E resulted in liabilities at December 31 as follows:

	2014		2013
Pension	$	27	$	9
Other postretirement benefits		85		73

Schedules of Asset Allocation of U.S. Pension Trusts Assets

The asset allocation for the trust and the target allocation by portfolio at December 31 are as follows:

					2014 Target Asset Allocation (a)
		Percentage of trust assets				Weighted
			2014 (a)	2013		Average	PPL Plans	LKE Plans
Growth Portfolio			51%	59%		52%	52%	52%
	Equity securities		26%	30%
	Debt securities (b)		13%	17%
	Alternative investments		12%	12%
Immunizing Portfolio			47%	39%		46%	46%	46%
	Debt securities (b)		44%	40%
	Derivatives		3%	(1%)
Liquidity Portfolio			2%	2%		2%	2%	2%
Total			100%	100%		100%	100%	100%

(a)Allocations exclude consideration of cash for the WKE Bargaining Employees' Retirement Plan and a group annuity contract held by the LG&E and KU Retirement Plan.

(b)Includes commingled debt funds, which PPL treats as debt securities for asset allocation purposes.

Schedule of Fair Value of Financial Assets for U.S. Pension Plan Assets

The fair value of net assets in the Master Trust by asset class and level within the fair value hierarchy was:

				December 31, 2014								December 31, 2013
						Fair Value Measurements Using								Fair Value Measurements Using
				Total		Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3
PPL Services Corporation Master Trust
Cash and cash equivalents				$	246	$	246					$	120	$	120
Equity securities:
		U.S.:
			Large-cap		432		114	$	318				480		134	$	346
			Small-cap		145		145						137		137
		International			615				615				630		163		467
		Commingled debt			818				818				749		13		736
Debt securities:
		U.S. Treasury and U.S. government sponsored
			agency		723		706		17				617		563		54
		Residential/commercial backed securities			2				2				12				11	$	1
		Corporate			1,109				1,088	$	21		963				940		23
		International government			8				8				7				7
		Other			9				9				24				24
Alternative investments:
		Commodities			90				90				108				108
		Real estate			148				148				134				134
		Private equity			104						104		80						80
		Hedge funds			223				223				210				210
Derivatives:
		Interest rate swaps and swaptions			92				92				(49)				(49)
		Other			12				12				12				12
Insurance contracts					33						33		37						37
PPL Services Corporation Master Trust assets, at
	fair value				4,809	$	1,211	$	3,440	$	158		4,271	$	1,130	$	3,000	$	141
Receivables and payables, net (a)					(41)
401(h) accounts restricted for other
	postretirement benefit obligations				(136)								(115)
Total PPL Services Corporation Master Trust
	pension assets			$	4,632							$	4,156

(a)Receivables and payables represent amounts for investments sold/purchased but not yet settled along with interest and dividends earned but not yet received.

Reconciliation of U.S. Pension Trust Assets Classified as Level 3 Included in Earnings

A reconciliation of the Master Trust assets classified as Level 3 at December 31, 2014 is as follows:

				Residential/
				commercial
				backed		Corporate		Private		Insurance
				securities		debt		equity		contracts		Total
Balance at beginning of period				$	1	$	23	$	80	$	37	$	141
	Actual return on plan assets
		Relating to assets still held
			at the reporting date		(1)		(1)		19		1		18
		Relating to assets sold during the period					(1)						(1)
	Purchases, sales and settlements								5		(5)
Balance at end of period				$		$	21	$	104	$	33	$	158

A reconciliation of the Master Trust assets classified as Level 3 at December 31, 2013 is as follows:

				Residential/
				commercial
				backed		Corporate		Private		Insurance		Other
				securities		debt		equity		contracts		debt		Total
Balance at beginning of period				$	1	$	27	$	75	$	42	$	1	$	146
	Actual return on plan assets
		Relating to assets still held
			at the reporting date						3		2				5
		Relating to assets sold during the period					5								5
	Purchases, sales and settlements						(9)		2		(7)				(14)
	Transfers from level 3 to level 2												(1)		(1)
Balance at end of period				$	1	$	23	$	80	$	37	$		$	141

Schedule of Expected Cash Flows - U.S. Defined Benefit Plans - Expected Payments and Related Federal Subsidy

The following benefit payments, which reflect expected future service, as appropriate, are expected to be paid by the plan.

		Pension
2015	$	15
2016		16
2017		17
2018		18
2019		19
2020-2024		105

Kentucky Utilities Co [Member]

Defined Benefit Plan Disclosure [Line Items]

Schedule of Funded Status of Defined Benefit Plans

Allocations to KU resulted in liabilities at December 31 as follows.

	2014		2013
Pension	$	59	$	11
Other postretirement benefits		52		42