Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2016

Fair Value [Line Items]

Fair Value of Assets and Liabilities Measured on Recurring Basis

The assets and liabilities measured at fair value were:

	December 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	$	341	$	341	$	—	$	—	$	836	$	836	$	—	$	—
Restricted cash and cash equivalents (a)	26		26		—		—		33		33		—		—
Price risk management assets (b):
Foreign currency contracts	211		—		211		—		209		—		209		—
Cross-currency swaps	188		—		188		—		86		—		86		—
Total price risk management assets	399		—		399		—		295		—		295		—
Auction rate securities (c)	—		—		—		—		2		—		—		2
Total assets	$	766	$	367	$	399	$	—	$	1,166	$	869	$	295	$	2

	December 31, 2016								December 31, 2015
	Total		Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3
Liabilities
Price risk management liabilities (b):
Interest rate swaps	$	31	$	—	$	31	$	—	$	71	$	—	$	71	$	—
Foreign currency contracts	27		—		27		—		1		—		1		—
Total price risk management liabilities	$	58	$	—	$	58	$	—	$	72	$	—	$	72	$	—
PPL Electric
Assets
Cash and cash equivalents	$	13	$	13	$	—	$	—	$	47	$	47	$	—	$	—
Restricted cash and cash equivalents (a)	2		2		—		—		2		2		—		—
Total assets	$	15	$	15	$	—	$	—	$	49	$	49	$	—	$	—
LKE
Assets
Cash and cash equivalents	$	13	$	13	$	—	$	—	$	30	$	30	$	—	$	—
Cash collateral posted to counterparties (d)	3		3		—		—		9		9		—		—
Total assets	$	16	$	16	$	—	$	—	$	39	$	39	$	—	$	—
Liabilities
Price risk management liabilities:
Interest rate swaps	$	31	$	—	$	31	$	—	$	47	$	—	$	47	$	—
Total price risk management liabilities	$	31	$	—	$	31	$	—	$	47	$	—	$	47	$	—
LG&E
Assets
Cash and cash equivalents	$	5	$	5	$	—	$	—	$	19	$	19	$	—	$	—
Cash collateral posted to counterparties (d)	3		3		—		—		9		9		—		—
Total assets	$	8	$	8	$	—	$	—	$	28	$	28	$	—	$	—
Liabilities
Price risk management liabilities:
Interest rate swaps	$	31	$	—	$	31	$	—	$	47	$	—	$	47	$	—
Total price risk management liabilities	$	31	$	—	$	31	$	—	$	47	$	—	$	47	$	—
KU
Assets
Cash and cash equivalents	$	7	$	7	$	—	$	—	$	11	$	11	$	—	$	—
Total assets	$	7	$	7	$	—	$	—	$	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 current 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.

	December 31, 2016				December 31, 2015
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
PPL	$	18,326	$	21,355	$	19,048	$	21,218
PPL Electric	2,831		3,148		2,828		3,088
LKE	5,065		5,439		5,088		5,384
LG&E	1,617		1,710		1,642		1,704
KU	2,327		2,514		2,326		2,467