Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2017

The assets and liabilities measured at fair value were:



	December 31, 2017								December 31, 2016
	Total		Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3
PPL
Assets
Cash and cash equivalents	$	485	$	485	$	—	$	—	$	341	$	341	$	—	$	—
Restricted cash and cash equivalents (a)	26		26		—		—		26		26		—		—
Price risk management assets (b):
Foreign currency contracts	163		—		163		—		211		—		211		—
Cross-currency swaps	101		—		101		—		188		—		188		—
Total price risk management assets	264		—		264		—		399		—		399		—
Total assets	$	775	$	511	$	264	$	—	$	766	$	367	$	399	$	—



	December 31, 2017								December 31, 2016
	Total		Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3
Liabilities
Price risk management liabilities (b):
Interest rate swaps	$	26	$	—	$	26	$	—	$	31	$	—	$	31	$	—
Foreign currency contracts	148		—		148		—		27		—		27		—
Total price risk management liabilities	$	174	$	—	$	174	$	—	$	58	$	—	$	58	$	—

PPL Electric
Assets
Cash and cash equivalents	$	49	$	49	$	—	$	—	$	13	$	13	$	—	$	—
Restricted cash and cash equivalents (a)	2		2		—		—		2		2		—		—
Total assets	$	51	$	51	$	—	$	—	$	15	$	15	$	—	$	—

LKE
Assets
Cash and cash equivalents	$	30	$	30	$	—	$	—	$	13	$	13	$	—	$	—
Cash collateral posted to counterparties (c)	—		—		—		—		3		3		—		—
Total assets	$	30	$	30	$	—	$	—	$	16	$	16	$	—	$	—

Liabilities
Price risk management liabilities:
Interest rate swaps	$	26	$	—	$	26	$	—	$	31	$	—	$	31	$	—
Total price risk management liabilities	$	26	$	—	$	26	$	—	$	31	$	—	$	31	$	—

LG&E
Assets
Cash and cash equivalents	$	15	$	15	$	—	$	—	$	5	$	5	$	—	$	—
Cash collateral posted to counterparties (c)	—		—		—		—		3		3		—		—
Total assets	$	15	$	15	$	—	$	—	$	8	$	8	$	—	$	—

Liabilities
Price risk management liabilities:
Interest rate swaps	$	26	$	—	$	26	$	—	$	31	$	—	$	31	$	—
Total price risk management liabilities	$	26	$	—	$	26	$	—	$	31	$	—	$	31	$	—

KU
Assets
Cash and cash equivalents	$	15	$	15	$	—	$	—	$	7	$	7	$	—	$	—
Total assets	$	15	$	15	$	—	$	—	$	7	$	7	$	—	$	—


(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. Represents cash collateral posted to offset the exposure with counterparties related to certain interest rate swaps under master netting arrangements that are not offset.

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