Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2016

Fair Value Measurements [Abstract]

Fair Value of Assets and Liabilities Measured on Recurring Basis

The assets and liabilities measured at fair value were:

			March 31, 2016								December 31, 2015
			Total		Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3
PPL
Assets
	Cash and cash equivalents		$	814	$	814					$	836	$	836
	Restricted cash and cash equivalents (a)			32		32						33		33
	Price risk management assets (b):
		Foreign currency contracts		249			$	249				209			$	209
		Cross-currency swaps		188				188				86				86
	Total price risk management assets			437				437				295				295
	Auction rate securities (c)			2					$	2		2					$	2
Total assets			$	1,285	$	846	$	437	$	2	$	1,166	$	869	$	295	$	2
Liabilities
	Price risk management liabilities (b):
		Interest rate swaps	$	95			$	95			$	71			$	71
		Foreign currency contracts		3				3				1				1
	Total price risk management liabilities		$	98			$	98			$	72			$	72
PPL Electric
Assets
	Cash and cash equivalents		$	34	$	34					$	47	$	47
	Restricted cash and cash equivalents (a)			2		2						2		2
Total assets			$	36	$	36					$	49	$	49

LKE
Assets
	Cash and cash equivalents		$	28	$	28			$	30	$	30
	Cash collateral posted to counterparties (d)			8		8				9		9
Total assets			$	36	$	36			$	39	$	39
Liabilities
	Price risk management liabilities:
		Interest rate swaps	$	53			$	53	$	47			$	47
Total price risk management liabilities			$	53			$	53	$	47			$	47
LG&E
Assets
	Cash and cash equivalents		$	11	$	11			$	19	$	19
	Cash collateral posted to counterparties (d)			8		8				9		9
Total assets			$	19	$	19			$	28	$	28
Liabilities
	Price risk management liabilities:
		Interest rate swaps	$	53			$	53	$	47			$	47
Total price risk management liabilities			$	53			$	53	$	47			$	47
KU
Assets
	Cash and cash equivalents		$	17	$	17			$	11	$	11
Total assets			$	17	$	17			$	11	$	11

(a)Current portion is included in "Other current assets" and long-term portion is included in "Other noncurrent assets" on the Balance Sheets.

(b)Current portion is included in "Price risk management assets" and "Other current liabilities" and noncurrent portion is included in "Price risk management assets" and "Other deferred credits and noncurrent liabilities" on the Balance Sheets.

(c)Included in "Other noncurrent assets" on the Balance Sheets.

(d)Included in "Other noncurrent assets" on the Balance Sheets. Represents cash collateral posted to offset the exposure with counterparties related to certain interest rate swaps under master netting arrangements that are not offset.

Fair Value of Financial Instruments Not Recorded at Fair Value - Other

The carrying amounts of long-term debt on the Balance Sheets and their estimated fair values are set forth below.

	March 31, 2016				December 31, 2015
	Carrying				Carrying
	Amount (a)		Fair Value		Amount (a)		Fair Value
PPL	$	18,559	$	21,046	$	19,048	$	21,218
PPL Electric		2,829		3,216		2,828		3,088

LKE	5,088	5,625	5,088	5,384
LG&E	1,642	1,779	1,642	1,704
KU	2,326	2,587	2,326	2,467

(a)Amountsare net of debt issuance costs.