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Income and Other Taxes (Income Tax Expense and Reconciliation of Income Tax Expense) (Details) - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Income Tax Expense (Benefit)      
Current - Federal $ (26) $ 18 $ (102)
Current - State 25 26 0
Current - Foreign 89 152 181
Total Current Expense (Benefit) 88 196 79
Deferred - Federal 699 299 259
Deferred - State 68 120 84
Deferred - Foreign 41 96 (53)
Total Deferred Expense (Benefit), excluding operating loss carry forwards 808 515 290
Investment tax credit, net - Federal (4) (5) (5)
Tax expense (benefit) of operating loss carryforwards [Abstract]      
Deferred - Federal [1] (396) 8 14
Deferred - State (31) (22) (18)
Total Tax Expense (Benefit) of Operating Loss Carryforwards (427) (14) (4)
Total income tax from continuing operations 465 692 360
Income tax expense (benefit) from continuing operations [Abstract]      
Total income tax expense - Federal 273 320 166
Total income tax expense - State 62 124 66
Total income tax expense - Foreign 130 248 128
Total income tax from continuing operations 465 692 360
Discontinued operations (30) 198 (180)
Stock-based compensation recorded to Additional Paid-in Capital 0 (4) (2)
Valuation allowance on state deferred taxes related to issuance costs of Purchase Contracts recorded to Additional Paid-in Capital 0 0 (2)
Other comprehensive income (2) (190) 159
Valuation allowance on state deferred taxes recorded to other comprehensive income (4) 0 (7)
Total income tax expense (benefits) excluded from incomes taxes from continuing operations (36) 4 (32)
Reconciliation of Income Tax Expense      
Federal income tax on Income (Loss) from Continuing Operations Before Income Taxes at statutory tax rate - 35% $ 724 $ 745 $ 605
Federal statutory rate 35.00% 35.00% 35.00%
Increase (decrease) due to:      
State income taxes, net of federal income tax benefit $ 31 $ 28 $ 17
Valuation allowance adjustments [2] 24 55 24
Impact of lower U.K. income tax rates [3] (176) (180) (144)
U.S. income tax on foreign earnings - net of foreign tax credit [4] 8 63 21
Federal and state tax reserve adjustments (22) [5] (1) (49) [5]
Impact of the United Kingdom Finance Acts on deferred tax balances [3] (91) (1) (97)
Depreciation not normalized (5) (7) (8)
State deferred tax rate change 0 (1) [6] 15 [6]
Interest benefit on United Kingdom financing entities (20) (5) (7)
Other (8) (4) (17)
Total increase (decrease) (259) (53) (245)
Total income tax from continuing operations $ 465 $ 692 $ 360
Effective income tax rate 22.50% 32.50% 20.80%
Expense related to increased Pennsylvania net operating loss carryforwards expected to be unutilized $ 12    
Expense related to federal tax credit carryforwards that are expected to expire as a result of future taxable earnings $ 12    
Adjustment to valuation allowance on deferred tax assets due to spinoff anouncement   $ 50  
Expense related to a deferred tax valuation allowance due to a decrease in projected future taxable income     $ 23
United Kingdom statutory income tax rate in effect during period prior to a change 20.00%   23.00%
United Kingdom statutory income tax rate reduction in year one     21.00%
United Kingdom statutory income tax rate reduction in year two 19.00%   20.00%
United Kingdom statutory income tax rate reduction in year five 18.00%    
Expense from increased taxable dividends   47 $ 28
Expense (benefit) related to the recalculation of 2010 United Kingdom earnings and profits     (19)
Benefit recorded in continuing operations related to the settlement of the IRS audit for tax years 1998-2011 $ 12    
Benefit from favorable United States Tax Court decision on deductibility of United Kingdom windfall profit tax     (44)
Interest portion of benefit from favorable United States Tax Court decision on deductibility of United Kingdom windfall profit tax     19
Benefit recorded related to stranded cost securitization included in change in federal and state income tax reserves     (7)
Taxes, other than income      
State gross receipts 89 [7] 102 98
Foreign property 148 157 147
Domestic property and other 62 58 53
Total 299 317 298
Previously recorded reserves 17    
PPL Electric Utilities Corp [Member]      
Income Tax Expense (Benefit)      
Current - Federal (80) 60 (15)
Current - State 23 15 (4)
Total Current Expense (Benefit) (57) 75 (19)
Deferred - Federal 287 70 109
Deferred - State 12 16 16
Total Deferred Expense (Benefit), excluding operating loss carry forwards 299 86 125
Investment tax credit, net - Federal 0 (1) (1)
Tax expense (benefit) of operating loss carryforwards [Abstract]      
Deferred - Federal (75) 0 4
Deferred - State (3) 0 (1)
Total Tax Expense (Benefit) of Operating Loss Carryforwards (78) 0 3
Total income tax from continuing operations 164 160 108
Income tax expense (benefit) from continuing operations [Abstract]      
Total income tax expense - Federal 132 129 97
Total income tax expense - State 32 31 11
Total income tax from continuing operations 164 160 108
Reconciliation of Income Tax Expense      
Federal income tax on Income (Loss) from Continuing Operations Before Income Taxes at statutory tax rate - 35% $ 146 $ 148 $ 111
Federal statutory rate 35.00% 35.00% 35.00%
Increase (decrease) due to:      
State income taxes, net of federal income tax benefit $ 25 $ 22 $ 16
Federal and state tax reserve adjustments 2 (1) (9) [8]
Federal and state income tax return adjustments (2) 1 (1)
Depreciation not normalized (4) (6) (6)
Other (3) (4) (3)
Total increase (decrease) 18 12 (3)
Total income tax from continuing operations $ 164 $ 160 $ 108
Effective income tax rate 39.40% 37.80% 34.10%
Benefit recorded related to stranded cost securitization included in change in federal and state income tax reserves     $ 7
Taxes, other than income      
State gross receipts $ 89 [9] $ 102 98
Domestic property and other 5 5 5
Total 94 107 103
Previously recorded reserves 17    
LG And E And KU Energy LLC [Member]      
Income Tax Expense (Benefit)      
Current - Federal 2 (247) (59)
Current - State 1 8 10
Total Current Expense (Benefit) 3 (239) (49)
Deferred - Federal 405 437 244
Deferred - State 32 23 20
Total Deferred Expense (Benefit), excluding operating loss carry forwards 437 460 264
Investment tax credit, net - Federal (3) (4) (4)
Tax expense (benefit) of operating loss carryforwards [Abstract]      
Deferred - Federal (198) (8) (4)
Deferred - State 0 0 (1)
Total Tax Expense (Benefit) of Operating Loss Carryforwards (198) (8) (5)
Total income tax from continuing operations 239 209 206
Income tax expense (benefit) from continuing operations [Abstract]      
Total income tax expense - Federal 206 178 177
Total income tax expense - State 33 31 29
Total income tax from continuing operations 239 209 206
Discontinued operations 0 0 1
Other comprehensive income (1) (36) 18
Reconciliation of Income Tax Expense      
Federal income tax on Income (Loss) from Continuing Operations Before Income Taxes at statutory tax rate - 35% $ 211 $ 194 $ 193
Federal statutory rate 35.00% 35.00% 35.00%
Increase (decrease) due to:      
State income taxes, net of federal income tax benefit $ 22 $ 20 $ 20
Valuation allowance adjustments 12 [10] 0 0
Amortization of investment tax credit (3) (4) (4)
Other (3) (1) (3)
Total increase (decrease) 28 15 13
Total income tax from continuing operations $ 239 $ 209 $ 206
Effective income tax rate 39.60% 37.80% 37.40%
Taxes, other than income      
Domestic property and other $ 57 $ 52 $ 48
Total 57 52 48
Louisville Gas And Electric Co [Member]      
Income Tax Expense (Benefit)      
Current - Federal (15) (25) 52
Current - State 3 10 16
Total Current Expense (Benefit) (12) (15) 68
Deferred - Federal 190 114 33
Deferred - State 13 6 (2)
Total Deferred Expense (Benefit), excluding operating loss carry forwards 203 120 31
Investment tax credit, net - Federal (1) (2) (2)
Tax expense (benefit) of operating loss carryforwards [Abstract]      
Deferred - Federal (76) 0 (3)
Total Tax Expense (Benefit) of Operating Loss Carryforwards (76) 0 (3)
Total income tax from continuing operations 114 103 94
Income tax expense (benefit) from continuing operations [Abstract]      
Total income tax expense - Federal 98 87 80
Total income tax expense - State 16 16 14
Total income tax from continuing operations 114 103 94
Reconciliation of Income Tax Expense      
Federal income tax on Income (Loss) from Continuing Operations Before Income Taxes at statutory tax rate - 35% $ 105 $ 95 $ 90
Federal statutory rate 35.00% 35.00% 35.00%
Increase (decrease) due to:      
State income taxes, net of federal income tax benefit $ 11 $ 10 $ 10
Amortization of investment tax credit (1) (2) (2)
Other (1) 0 (4)
Total increase (decrease) 9 8 4
Total income tax from continuing operations $ 114 $ 103 $ 94
Effective income tax rate 38.10% 37.90% 36.60%
Taxes, other than income      
Domestic property and other $ 28 $ 25 $ 24
Total 28 25 24
Kentucky Utilities Co [Member]      
Income Tax Expense (Benefit)      
Current - Federal (21) (95) 51
Current - State 1 6 12
Total Current Expense (Benefit) (20) (89) 63
Deferred - Federal 240 212 66
Deferred - State 19 14 8
Total Deferred Expense (Benefit), excluding operating loss carry forwards 259 226 74
Investment tax credit, net - Federal (2) (2) (2)
Tax expense (benefit) of operating loss carryforwards [Abstract]      
Deferred - Federal (97) 0 (3)
Total Tax Expense (Benefit) of Operating Loss Carryforwards (97) 0 (3)
Total income tax from continuing operations 140 135 132
Income tax expense (benefit) from continuing operations [Abstract]      
Total income tax expense - Federal 120 115 112
Total income tax expense - State 20 20 20
Total income tax from continuing operations 140 135 132
Other comprehensive income (1) (1) 1
Reconciliation of Income Tax Expense      
Federal income tax on Income (Loss) from Continuing Operations Before Income Taxes at statutory tax rate - 35% $ 131 $ 124 $ 126
Federal statutory rate 35.00% 35.00% 35.00%
Increase (decrease) due to:      
State income taxes, net of federal income tax benefit $ 13 $ 13 $ 14
Amortization of investment tax credit (2) (2) (2)
Other (2) 0 (6)
Total increase (decrease) 9 11 6
Total income tax from continuing operations $ 140 $ 135 $ 132
Effective income tax rate 37.40% 38.00% 36.70%
Taxes, other than income      
Domestic property and other $ 29 $ 27 $ 24
Total $ 29 $ 27 $ 24
[1] Increase in Federal loss carryforwards primarily relates to the extension of bonus depreciation and the impact of bonus depreciation related to provision to return adjustments.
[2] During 2015, PPL recorded $24 million of deferred income tax expense related to deferred tax valuation allowances. PPL recorded state deferred income tax expense of $12 million primarily related to increased Pennsylvania net operating loss carryforwards expected to be unutilized and $12 million of federal deferred income tax expense primarily related to federal tax credit carryforwards that are expected to expire as a result of lower future taxable earnings due to the extension of bonus depr eciation. As a result of the PPL Energy Supply spinoff announcement, PPL recorded $50 million of deferred income tax expense during 2014 to adjust the valuation allowance on deferred tax assets primarily for state net operating loss carryforwards that we re previously supported by the future earnings of PPL Energy Supply. See Note 8 for additional information on the spinoff. During 2013, PPL recorded $23 million of state deferred income tax expense related to a deferred tax valuation allowance primarily due to a decrease in projected future taxable income at PPL Energy Supply over the remaining carryforward period of Pennsylvania net operating losses.
[3] The U.K. Finance Act 2015 , enacted in November 2015 , reduced the U.K. statutory income tax rate f rom 20% to 1 9% effective April 1, 2017 and from 19 % to 18% effective April 1, 2020 . As a result, PPL reduced its net deferred tax liabilities and recognized a deferred tax benefit during 2015 related to both rate decreases. The U.K. Finance Act 2013, enact ed in July 2013, reduced the U.K. statutory income tax rate from 23% to 21% effective April 1, 2014 and from 21% to 20% effective April 1, 2015. As a result, PPL reduced its net deferred tax liabilities and recognized a deferred tax benefit during 2013 re lated to both rate decreases.
[4] During 2015, PPL recorded lower income taxes primarily attributable to a decrease in taxable dividends. During 2014, PPL recorded $47 million of income tax expense primarily attributable to taxable dividends. During 20 13, PPL recorded $28 million of income tax expense resulting from increased taxable dividends offset by a $19 million income tax benefit associated with a ruling obtained from the IRS impacting the recalculation of 2010 U.K. earnings and profits that was r eflected on an amended 2010 U.S. tax return.
[5] In 2015, PPL recorded a $12 million tax benefit related to the settlement of the IRS audit for the tax years 1998-2011. In May 2013, the Supreme Court ruled that the U.K. Windfall Profits Tax (WPT) imposed on privatized utilities, including WPD, is a creditable tax for U.S. federal income tax purposes. As a result of the Supreme Court ruling, PPL recorded a tax benefit of $44 million during 2013, of which $19 million relates to int erest. In 2013, PPL r ecorded a federal and state income tax reserve benefit of $7 million related to stranded cost securitization. The reserve balance at December 31, 2013 related to stranded costs securitization was zero.
[6] During each period, PPL recorded adjustments related to its December 31 state deferred tax liabilities as a result of annual changes in state apportionment and the impact on the future estimated state income tax rate .
[7] The decrease in 2015 was primarily due to the settlement of a 2011 gross receipts tax audit resulting in the reversal of $17 million of previously recognized reserves.
[8] PPL Electric recorded a tax benefit of $7 million during 2013 to federal and state income tax reserves related to stranded cost securitization. The reserve balance at December 31, 2013 related to stranded costs securitization wa s zero.
[9] The decrease in 2015 was primarily due to the settlement of a 2011 gross receipts tax audit resulting in the reversal of $17 million of previously recognized reserves.
[10] Represents a valuation allowance against tax credits expiring from 2016 through 2020 that are more likely than not to expire before being utilized.