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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Cash Flows from Operating Activities      
Net income $ 682 $ 1,737 $ 1,130
Income (Loss) from Discontinued Operations (net of income taxes) (921) 300 (238)
Income from continuing operations (net of income taxes) 1,603 1,437 1,368
Adjustments to reconcile net income to net cash provided by (used in) operating activities      
Depreciation 883 923 843
Amortization 59 65 66
Defined benefit plans - expense 56 48 125
Deferred income taxes and investment tax credits 428 666 387
Unrealized (gains) losses on derivatives, and other hedging activities (77) (187) 56
Adjustment to WPD line loss accrual 0 65 45
Other 17 66 0
Change in current assets and current liabilities      
Accounts receivable 47 (123) (211)
Accounts payable (116) 40 127
Unbilled revenues 54 22 (56)
Prepayments (23) 87 39
Taxes payable (175) 161 51
Uncertain tax positions (17) 0 (112)
Other 99 23 (66)
Other operating activities      
Defined benefit plans - funding (499) (384) (450)
Settlement of interest rate swaps 0 0 104
Settlement of interest rate swaps (101) 0 0
Other assets (19) 9 11
Other liabilities 53 23 120
Net cash provided by (used in) operating activities 2,272 2,941 2,447
Net cash provided by (used in) operating activities - discontinued operations 343 462 409
Net cash provided by (used in) operating activities 2,615 3,403 2,856
Cash Flows from Investing Activities      
Expenditures for property, plant and equipment (3,533) (3,674) (3,629)
Expenditures for intangible assets (37) (49) (53)
Purchases of other investments 0 (120) 0
Proceeds from the sale of other investments 136 0 0
Net (increase) decrease in restricted cash and cash equivalents 8 19 2
Other investing activities (13) (2) 16
Net cash provided by (used in) investing activities (3,439) (3,826) (3,664)
Net cash provided by (used in) investing activities - discontinued operations (149) 497 (631)
Net cash provided by (used in) investing activities (3,588) (3,329) (4,295)
Cash Flows from Financing Activities      
Issuance of long-term debt 2,236 296 2,038
Retirement of long-term debt (1,000) (237) 0
Repurchase of common stock 0 0 (74)
Issuance of common stock 203 1,074 1,411
Payment of common stock dividends (1,004) (967) (878)
Contract adjustment payments on Equity Units 0 (22) (82)
Net increase (decrease) in short-term debt 94 147 405
Other financing activities (47) (29) (67)
Net cash provided by (used in) financing activities 482 262 2,753
Net cash provided by (used in) financing activities - discontinued operations (546) (846) 47
Net cash distributions to parent from discontinued operations 132 1,167 (1,169)
Net cash provided by (used in) financing activities 68 583 1,631
Effect of Exchange Rates on Cash and Cash Equivalents (10) (8) 8
Net (Increase) Decrease in Cash and Cash Equivalents included in Discontinued Operations (352) 113 (175)
Net Increase (Decrease) in Cash and Cash Equivalents (563) 536 375
Cash and Cash Equivalents at Beginning of Period 1,399 863 488
Cash and Cash Equivalents at End of Period 836 1,399 863
Supplemental Disclosures of Cash Flow Information:      
Interest - net of amount capitalized 822 959 916
Income taxes - net 179 190 128
PPL Electric Utilities Corp [Member]      
Cash Flows from Operating Activities      
Net income [1] 252 263 209
Adjustments to reconcile net income to net cash provided by (used in) operating activities      
Depreciation 214 185 178
Amortization 26 19 19
Defined benefit plans - expense 16 15 21
Deferred income taxes and investment tax credits 220 87 127
Other (12) (23) (9)
Change in current assets and current liabilities      
Accounts receivable 50 (64) (29)
Accounts payable (107) 30 12
Unbilled revenues 22 3 (6)
Prepayments (1) 1 36
Taxes payable (108) 75 49
Regulatory assets and liabilities 35 5 19
Other 21 10 (28)
Other operating activities      
Defined benefit plans - funding (33) (23) (93)
Other assets (10) 19 8
Other liabilities 17 11 10
Net cash provided by (used in) operating activities 602 613 523
Cash Flows from Investing Activities      
Expenditures for property, plant and equipment (1,097) (931) (903)
Expenditures for intangible assets (10) (26) (39)
Net (increase) decrease in notes receivable from affiliates 0 150 (150)
Other investing activities (1) 16 12
Net cash provided by (used in) investing activities (1,108) (791) (1,080)
Cash Flows from Financing Activities      
Issuance of long-term debt 348 296 348
Retirement of long-term debt (100) (10) 0
Contributions from parent 275 263 205
Payment of common stock dividends to parent (181) (158) (127)
Net increase (decrease) in short-term debt 0 (20) 20
Other financing activities (3) (4) (4)
Net cash provided by (used in) financing activities 339 367 442
Net Increase (Decrease) in Cash and Cash Equivalents (167) 189 (115)
Cash and Cash Equivalents at Beginning of Period 214 25 140
Cash and Cash Equivalents at End of Period 47 214 25
Supplemental Disclosures of Cash Flow Information:      
Interest - net of amount capitalized 117 110 87
Income taxes - net 38 40 (45)
LG And E And KU Energy LLC [Member]      
Cash Flows from Operating Activities      
Net income 364 344 347
Income (Loss) from Discontinued Operations (net of income taxes) 0 0 2
Income from continuing operations (net of income taxes) 364 344 345
Adjustments to reconcile net income to net cash provided by (used in) operating activities      
Depreciation 382 354 334
Amortization 27 25 22
Defined benefit plans - expense 38 25 48
Deferred income taxes and investment tax credits 236 449 254
Other 2 16 5
Change in current assets and current liabilities      
Accounts receivable 24 (20) (91)
Accounts payable (58) 12 40
Accounts payable to affiliates (2) (1) 1
Unbilled revenues 20 13 (24)
Fuel, materials and supplies 6 (32) (1)
Income tax receivable 135 (136) 1
Taxes payable 10 (3) 13
Accrued interest 9 0 2
Other 23 (1) 20
Other operating activities      
Defined benefit plans - funding (70) (45) (168)
Settlement of interest rate swaps 0 0 86
Settlement of interest rate swaps (88) 0 0
Other assets (7) (7) 9
Other liabilities 12 6 22
Net cash provided by (used in) operating activities 1,063 999 920
Cash Flows from Investing Activities      
Expenditures for property, plant and equipment (1,210) (1,262) (1,434)
Net (increase) decrease in notes receivable from affiliates 0 70 (70)
Other investing activities 7 1 2
Net cash provided by (used in) investing activities (1,203) (1,191) (1,502)
Cash Flows from Financing Activities      
Issuance of long-term debt 1,050 0 496
Issuance of long-term debt with affiliates 400 0 0
Retirement of long-term debt 900 0 0
Contributions from member 125 248 243
Distributions to member (219) (436) (254)
Debt issuance and credit facility costs (10) (5) (6)
Net increase (decrease) in notes payable to affiliates 13 41 (25)
Net increase (decrease) in short-term debt (310) 330 120
Net cash provided by (used in) financing activities 149 178 574
Net Increase (Decrease) in Cash and Cash Equivalents 9 (14) (8)
Cash and Cash Equivalents at Beginning of Period 21 35 43
Cash and Cash Equivalents at End of Period 30 21 35
Supplemental Disclosures of Cash Flow Information:      
Interest - net of amount capitalized 163 157 137
Income taxes - net (139) (75) (67)
Louisville Gas And Electric Co [Member]      
Cash Flows from Operating Activities      
Net income [2] 185 169 163
Adjustments to reconcile net income to net cash provided by (used in) operating activities      
Depreciation 162 157 148
Amortization 11 12 6
Defined benefit plans - expense 12 9 18
Deferred income taxes and investment tax credits 126 118 26
Other 8 2 9
Change in current assets and current liabilities      
Accounts receivable 19 (12) (37)
Accounts receivable from affiliates (11) 23 (14)
Accounts payable (29) 25 16
Accounts payable to affiliates 5 (4) 1
Unbilled revenues 9 9 (13)
Fuel, materials and supplies 3 (8) (12)
Income tax receivable 70 (74) 0
Taxes payable 1 8 9
Accrued interest 5 0 1
Other 17 0 7
Other operating activities      
Defined benefit plans - funding (26) (13) (48)
Settlement of interest rate swaps 0 0 43
Settlement of interest rate swaps (44) 0 0
Other assets 11 (2) 9
Other liabilities (2) (2) 6
Net cash provided by (used in) operating activities 554 371 366
Cash Flows from Investing Activities      
Expenditures for property, plant and equipment (689) (656) (577)
Net cash provided by (used in) investing activities (689) (656) (577)
Cash Flows from Financing Activities      
Issuance of long-term debt 550 0 248
Retirement of long-term debt 250 0 0
Contributions from parent 90 157 86
Payment of common stock dividends to parent (119) (112) (99)
Debt issuance and credit facility costs (5) (2) (3)
Net increase (decrease) in short-term debt (122) 244 (35)
Net cash provided by (used in) financing activities 144 287 197
Net Increase (Decrease) in Cash and Cash Equivalents 9 2 (14)
Cash and Cash Equivalents at Beginning of Period 10 8 22
Cash and Cash Equivalents at End of Period 19 10 8
Supplemental Disclosures of Cash Flow Information:      
Interest - net of amount capitalized 48 46 36
Income taxes - net (81) 65 51
Kentucky Utilities Co [Member]      
Cash Flows from Operating Activities      
Net income [1] 234 220 228
Adjustments to reconcile net income to net cash provided by (used in) operating activities      
Depreciation 220 197 186
Amortization 13 11 14
Defined benefit plans - expense 10 5 18
Deferred income taxes and investment tax credits 160 224 69
Other (5) 13 (3)
Change in current assets and current liabilities      
Accounts receivable 5 (9) (44)
Accounts receivable from affiliates 1 0 (7)
Accounts payable (32) (10) 23
Accounts payable to affiliates (10) 22 (8)
Unbilled revenues 11 4 (11)
Fuel, materials and supplies 3 (25) 10
Income tax receivable 59 (60) 0
Taxes payable 6 (19) 7
Accrued interest 5 0 1
Other 4 (5) 9
Other operating activities      
Defined benefit plans - funding (21) (5) (65)
Settlement of interest rate swaps 0 0 43
Settlement of interest rate swaps (44) 0 0
Other assets (11) (4) 1
Other liabilities 2 7 10
Net cash provided by (used in) operating activities 608 566 495
Cash Flows from Investing Activities      
Expenditures for property, plant and equipment (519) (604) (855)
Other investing activities 7 1 2
Net cash provided by (used in) investing activities (512) (603) (853)
Cash Flows from Financing Activities      
Issuance of long-term debt 500 0 248
Retirement of long-term debt 250 0 0
Contributions from parent 0 91 157
Payment of common stock dividends to parent (153) (148) (124)
Debt issuance and credit facility costs (5) (2) (3)
Net increase (decrease) in short-term debt (188) 86 80
Net cash provided by (used in) financing activities (96) 27 358
Net Increase (Decrease) in Cash and Cash Equivalents 0 (10) 0
Cash and Cash Equivalents at Beginning of Period 11 21 21
Cash and Cash Equivalents at End of Period 11 11 21
Supplemental Disclosures of Cash Flow Information:      
Interest - net of amount capitalized 75 73 61
Income taxes - net $ (84) $ 0 $ 47
[1] Net income approximates comprehensive income.
[2] Net income equals comprehensive income.