Defined Benefits (Tables)

9 Months Ended

Sep. 30, 2017

Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]

Schedule Of Net Periodic Defined Benefit Costs (Credits)

Following are the net periodic defined benefit costs (credits) of the plans sponsored by PPL and its subsidiaries, LKE and LG&E for the periods ended September 30:

	Pension Benefits
	Three Months												Nine Months
	U.S.						U.K.						U.S.						U.K.
	2017			2016			2017			2016			2017			2016			2017			2016
PPL
Service cost	$	17		$	16		$	20		$	17		$	49		$	49		$	57		$	53
Interest cost	42			44			45			58			126			131			132			182
Expected return on plan assets	(58		)	(57		)	(130		)	(124		)	(173		)	(171		)	(382		)	(389		)
Amortization of:
Prior service cost	2			2			—			—			7			6			—			—
Actuarial loss	18			12			36			34			52			37			107			107
Net periodic defined benefit costs (credits) before settlements and special termination benefits	21			17			(29		)	(15		)	61			52			(86		)	(47		)
Settlements (a)	7			3			—			—			7			3			—			—
Special termination benefits (b)	—			—			—			—			1			—			—			—
Net periodic defined benefit costs (credits)	$	28		$	20		$	(29	)	$	(15	)	$	69		$	55		$	(86	)	$	(47	)

(a) 2017 includes settlement charges of $5 million from the LG&E qualified pension plan and $2 million from the PPL non-qualified pension plan and 2016 includes a settlement charge of $3 million from the PPL non-qualified pension plan. These settlements resulted from lump sum payments that exceeded service cost and interest cost components of net periodic pension cost for the year.

(b) Enhanced pension benefits offered to certain PPL Electric bargaining unit employees under a one-time voluntary retirement window offered as part of the new five year IBEW contract ratified in March 2017.

	Pension Benefits
	Three Months						Nine Months
	2017			2016			2017			2016
LKE
Service cost	$	6		$	6		$	18		$	18
Interest cost	17			18			51			53
Expected return on plan assets	(23		)	(23		)	(69		)	(68		)
Amortization of:
Prior service cost	2			2			6			6
Actuarial loss (a)	8			5			23			15
Net periodic defined benefit costs before settlements	10			8			29			24
Settlements (b)	5			—			5			—
Net periodic defined benefit costs	$	15		$	8		$	34		$	24
LG&E
Service cost	$	—		$	—		$	1		$	1
Interest cost	3			4			9			11
Expected return on plan assets	(5		)	(5		)	(16		)	(15		)
Amortization of:
Prior service cost	1			1			3			3
Actuarial loss (a)	3			2			7			5
Net periodic defined benefit costs before settlements	2			2			4			5
Settlements (b)	5			—			5			—
Net periodic defined benefit costs	$	7		$	2		$	9		$	5

(a) As a result of treatment approved by the KPSC, the difference between actuarial loss calculated in accordance with LKE's accounting policy and actuarial loss calculated using a 15-year amortization period was $3 million and $8 million for the three and nine months ended September 30, 2017 and $4 million for the nine months ended September 30, 2016. The difference between actuarial loss calculated in accordance with LG&E's accounting policy and actuarial loss calculated using a 15-year amortization period was $1 million and $3 million for the three and nine months ended September 30, 2017 and $1 million for the three months ended September 30, 2016. These differences are recorded as regulatory assets.

(b) Due to the amount of lump sum payment distributions from the LG&E qualified pension plan, a settlement charge of $5 million was incurred. In accordance with existing regulatory accounting treatment, LG&E has maintained the settlement charge in regulatory assets. The amount will be amortized in accordance with existing regulatory practice.

	Other Postretirement Benefits
	Three Months						Nine Months
	2017			2016			2017			2016
PPL
Service cost	$	2		$	2		$	6		$	6
Interest cost	5			6			17			19
Expected return on plan assets	(6		)	(6		)	(17		)	(17		)
Amortization of prior service cost	—			—			(1		)	—
Amortization of actuarial loss	1			1			1			1
Net periodic defined benefit costs	$	2		$	3		$	6		$	9

	Other Postretirement Benefits
	Three Months						Nine Months
	2017			2016			2017			2016
LKE
Service cost	$	1		$	1		$	3		$	3
Interest cost	2			2			6			7
Expected return on plan assets	(2		)	(2		)	(5		)	(5		)
Amortization of prior service cost	1			1			1			2
Net periodic defined benefit costs	$	2		$	2		$	5		$	7

PPL Electric Utilities Corp [Member]

Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]

Allocation of Net Periodic Benefit Costs

For the periods ended September 30, PPL Services allocated the following net periodic defined benefit costs to PPL Electric, and LKE allocated the following net periodic defined benefit costs to LG&E and KU:

	Three Months				Nine Months
	2017		2016		2017		2016
PPL Electric	$	6	$	6	$	19	$	17
LG&E	3		2		8		7
KU	2		2		7		8

LG And E And KU Energy LLC [Member]

Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]

Schedule Of Net Periodic Defined Benefit Costs (Credits)

Following are the net periodic defined benefit costs (credits) of the plans sponsored by PPL and its subsidiaries, LKE and LG&E for the periods ended September 30:

	Pension Benefits
	Three Months												Nine Months
	U.S.						U.K.						U.S.						U.K.
	2017			2016			2017			2016			2017			2016			2017			2016
PPL
Service cost	$	17		$	16		$	20		$	17		$	49		$	49		$	57		$	53
Interest cost	42			44			45			58			126			131			132			182
Expected return on plan assets	(58		)	(57		)	(130		)	(124		)	(173		)	(171		)	(382		)	(389		)
Amortization of:
Prior service cost	2			2			—			—			7			6			—			—
Actuarial loss	18			12			36			34			52			37			107			107
Net periodic defined benefit costs (credits) before settlements and special termination benefits	21			17			(29		)	(15		)	61			52			(86		)	(47		)
Settlements (a)	7			3			—			—			7			3			—			—
Special termination benefits (b)	—			—			—			—			1			—			—			—
Net periodic defined benefit costs (credits)	$	28		$	20		$	(29	)	$	(15	)	$	69		$	55		$	(86	)	$	(47	)

(a) 2017 includes settlement charges of $5 million from the LG&E qualified pension plan and $2 million from the PPL non-qualified pension plan and 2016 includes a settlement charge of $3 million from the PPL non-qualified pension plan. These settlements resulted from lump sum payments that exceeded service cost and interest cost components of net periodic pension cost for the year.

(b) Enhanced pension benefits offered to certain PPL Electric bargaining unit employees under a one-time voluntary retirement window offered as part of the new five year IBEW contract ratified in March 2017.

	Pension Benefits
	Three Months						Nine Months
	2017			2016			2017			2016
LKE
Service cost	$	6		$	6		$	18		$	18
Interest cost	17			18			51			53
Expected return on plan assets	(23		)	(23		)	(69		)	(68		)
Amortization of:
Prior service cost	2			2			6			6
Actuarial loss (a)	8			5			23			15
Net periodic defined benefit costs before settlements	10			8			29			24
Settlements (b)	5			—			5			—
Net periodic defined benefit costs	$	15		$	8		$	34		$	24
LG&E
Service cost	$	—		$	—		$	1		$	1
Interest cost	3			4			9			11
Expected return on plan assets	(5		)	(5		)	(16		)	(15		)
Amortization of:
Prior service cost	1			1			3			3
Actuarial loss (a)	3			2			7			5
Net periodic defined benefit costs before settlements	2			2			4			5
Settlements (b)	5			—			5			—
Net periodic defined benefit costs	$	7		$	2		$	9		$	5

(a) As a result of treatment approved by the KPSC, the difference between actuarial loss calculated in accordance with LKE's accounting policy and actuarial loss calculated using a 15-year amortization period was $3 million and $8 million for the three and nine months ended September 30, 2017 and $4 million for the nine months ended September 30, 2016. The difference between actuarial loss calculated in accordance with LG&E's accounting policy and actuarial loss calculated using a 15-year amortization period was $1 million and $3 million for the three and nine months ended September 30, 2017 and $1 million for the three months ended September 30, 2016. These differences are recorded as regulatory assets.

(b) Due to the amount of lump sum payment distributions from the LG&E qualified pension plan, a settlement charge of $5 million was incurred. In accordance with existing regulatory accounting treatment, LG&E has maintained the settlement charge in regulatory assets. The amount will be amortized in accordance with existing regulatory practice.

	Other Postretirement Benefits
	Three Months						Nine Months
	2017			2016			2017			2016
PPL
Service cost	$	2		$	2		$	6		$	6
Interest cost	5			6			17			19
Expected return on plan assets	(6		)	(6		)	(17		)	(17		)
Amortization of prior service cost	—			—			(1		)	—
Amortization of actuarial loss	1			1			1			1
Net periodic defined benefit costs	$	2		$	3		$	6		$	9

	Other Postretirement Benefits
	Three Months						Nine Months
	2017			2016			2017			2016
LKE
Service cost	$	1		$	1		$	3		$	3
Interest cost	2			2			6			7
Expected return on plan assets	(2		)	(2		)	(5		)	(5		)
Amortization of prior service cost	1			1			1			2
Net periodic defined benefit costs	$	2		$	2		$	5		$	7

Louisville Gas And Electric Co [Member]

Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]

Schedule Of Net Periodic Defined Benefit Costs (Credits)

Following are the net periodic defined benefit costs (credits) of the plans sponsored by PPL and its subsidiaries, LKE and LG&E for the periods ended September 30:

	Pension Benefits
	Three Months												Nine Months
	U.S.						U.K.						U.S.						U.K.
	2017			2016			2017			2016			2017			2016			2017			2016
PPL
Service cost	$	17		$	16		$	20		$	17		$	49		$	49		$	57		$	53
Interest cost	42			44			45			58			126			131			132			182
Expected return on plan assets	(58		)	(57		)	(130		)	(124		)	(173		)	(171		)	(382		)	(389		)
Amortization of:
Prior service cost	2			2			—			—			7			6			—			—
Actuarial loss	18			12			36			34			52			37			107			107
Net periodic defined benefit costs (credits) before settlements and special termination benefits	21			17			(29		)	(15		)	61			52			(86		)	(47		)
Settlements (a)	7			3			—			—			7			3			—			—
Special termination benefits (b)	—			—			—			—			1			—			—			—
Net periodic defined benefit costs (credits)	$	28		$	20		$	(29	)	$	(15	)	$	69		$	55		$	(86	)	$	(47	)

(a) 2017 includes settlement charges of $5 million from the LG&E qualified pension plan and $2 million from the PPL non-qualified pension plan and 2016 includes a settlement charge of $3 million from the PPL non-qualified pension plan. These settlements resulted from lump sum payments that exceeded service cost and interest cost components of net periodic pension cost for the year.

(b) Enhanced pension benefits offered to certain PPL Electric bargaining unit employees under a one-time voluntary retirement window offered as part of the new five year IBEW contract ratified in March 2017.

	Pension Benefits
	Three Months						Nine Months
	2017			2016			2017			2016
LKE
Service cost	$	6		$	6		$	18		$	18
Interest cost	17			18			51			53
Expected return on plan assets	(23		)	(23		)	(69		)	(68		)
Amortization of:
Prior service cost	2			2			6			6
Actuarial loss (a)	8			5			23			15
Net periodic defined benefit costs before settlements	10			8			29			24
Settlements (b)	5			—			5			—
Net periodic defined benefit costs	$	15		$	8		$	34		$	24
LG&E
Service cost	$	—		$	—		$	1		$	1
Interest cost	3			4			9			11
Expected return on plan assets	(5		)	(5		)	(16		)	(15		)
Amortization of:
Prior service cost	1			1			3			3
Actuarial loss (a)	3			2			7			5
Net periodic defined benefit costs before settlements	2			2			4			5
Settlements (b)	5			—			5			—
Net periodic defined benefit costs	$	7		$	2		$	9		$	5

(a) As a result of treatment approved by the KPSC, the difference between actuarial loss calculated in accordance with LKE's accounting policy and actuarial loss calculated using a 15-year amortization period was $3 million and $8 million for the three and nine months ended September 30, 2017 and $4 million for the nine months ended September 30, 2016. The difference between actuarial loss calculated in accordance with LG&E's accounting policy and actuarial loss calculated using a 15-year amortization period was $1 million and $3 million for the three and nine months ended September 30, 2017 and $1 million for the three months ended September 30, 2016. These differences are recorded as regulatory assets.

(b) Due to the amount of lump sum payment distributions from the LG&E qualified pension plan, a settlement charge of $5 million was incurred. In accordance with existing regulatory accounting treatment, LG&E has maintained the settlement charge in regulatory assets. The amount will be amortized in accordance with existing regulatory practice.

	Other Postretirement Benefits
	Three Months						Nine Months
	2017			2016			2017			2016
PPL
Service cost	$	2		$	2		$	6		$	6
Interest cost	5			6			17			19
Expected return on plan assets	(6		)	(6		)	(17		)	(17		)
Amortization of prior service cost	—			—			(1		)	—
Amortization of actuarial loss	1			1			1			1
Net periodic defined benefit costs	$	2		$	3		$	6		$	9

	Other Postretirement Benefits
	Three Months						Nine Months
	2017			2016			2017			2016
LKE
Service cost	$	1		$	1		$	3		$	3
Interest cost	2			2			6			7
Expected return on plan assets	(2		)	(2		)	(5		)	(5		)
Amortization of prior service cost	1			1			1			2
Net periodic defined benefit costs	$	2		$	2		$	5		$	7

Allocation of Net Periodic Benefit Costs

For the periods ended September 30, PPL Services allocated the following net periodic defined benefit costs to PPL Electric, and LKE allocated the following net periodic defined benefit costs to LG&E and KU:

	Three Months				Nine Months
	2017		2016		2017		2016
PPL Electric	$	6	$	6	$	19	$	17
LG&E	3		2		8		7
KU	2		2		7		8

Kentucky Utilities Co [Member]

Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]

Allocation of Net Periodic Benefit Costs

For the periods ended September 30, PPL Services allocated the following net periodic defined benefit costs to PPL Electric, and LKE allocated the following net periodic defined benefit costs to LG&E and KU:

	Three Months				Nine Months
	2017		2016		2017		2016
PPL Electric	$	6	$	6	$	19	$	17
LG&E	3		2		8		7
KU	2		2		7		8