The following table provides information about the regulatory assets and liabilities of cost-based rate-regulated utility operations.



	PPL				PPL Electric
	March 31, 2018		December 31, 2017		March 31, 2018		December 31, 2017
Current Regulatory Assets:
Environmental cost recovery	$	—	$	5	$	—	$	—
Generation formula rate	2		6		—		—
Smart meter rider	15		15		15		15
Plant outage costs	6		3		—		—
Other	5		5		1		1
Total current regulatory assets (a)	$	28	$	34	$	16	$	16

Noncurrent Regulatory Assets:
Defined benefit plans	$	866	$	880	$	496	$	504
Taxes recoverable through future rates	3		3		3		3
Storm costs (b)	47		33		17		—
Unamortized loss on debt	51		54		27		29
Interest rate swaps	22		26		—		—
Terminated interest rate swaps	91		92		—		—
Accumulated cost of removal of utility plant	176		173		176		173
AROs	247		234		—		—
Act 129 compliance rider	7		—		7		—
Other	9		9		—		—
Total noncurrent regulatory assets	$	1,519	$	1,504	$	726	$	709



	PPL				PPL Electric
	March 31, 2018		December 31, 2017		March 31, 2018		December 31, 2017
Current Regulatory Liabilities:
Generation supply charge	$	33	$	34	$	33	$	34
Transmission service charge	16		9		16		9
Environmental cost recovery	18		1		—		—
Universal service rider	24		26		24		26
Transmission formula rate	10		9		10		9
Fuel adjustment clause	2		3		—		—
TCJA bill credit (c)	34		—		—		—
Storm damage expense rider	12		8		12		8
Other	9		5		—		—
Total current regulatory liabilities	$	158	$	95	$	95	$	86

Noncurrent Regulatory Liabilities:
Accumulated cost of removal of utility plant	$	677	$	677	$	—	$	—
Power purchase agreement - OVEC (d)	66		68		—		—
Net deferred taxes (e)	1,839		1,853		660		668
Defined benefit plans	28		27		—		—
Terminated interest rate swaps	74		74		—		—
Other	5		5		2		—
Total noncurrent regulatory liabilities	$	2,689	$	2,704	$	662	$	668



	LKE				LG&E				KU
	March 31, 2018		December 31, 2017		March 31, 2018		December 31, 2017		March 31, 2018		December 31, 2017
Current Regulatory Assets:
Environmental cost recovery	$	—	$	5	$	—	$	5	$	—	$	—
Generation formula rate	2		6		—		—		2		6
Plant outage costs	6		3		6		3		—		—
Other	4		4		4		4		—		—
Total current regulatory assets	$	12	$	18	$	10	$	12	$	2	$	6

Noncurrent Regulatory Assets:
Defined benefit plans	$	370	$	376	$	230	$	234	$	140	$	142
Storm costs	30		33		16		18		14		15
Unamortized loss on debt	24		25		15		16		9		9
Interest rate swaps	22		26		22		26		—		—
Terminated interest rate swaps	91		92		53		54		38		38
AROs	247		234		67		61		180		173
Other	9		9		3		2		6		7
Total noncurrent regulatory assets	$	793	$	795	$	406	$	411	$	387	$	384



	LKE				LG&E				KU
	March 31, 2018		December 31, 2017		March 31, 2018		December 31, 2017		March 31, 2018		December 31, 2017
Current Regulatory Liabilities:
Environmental cost recovery	$	18	$	1	$	7	$	—	$	11	$	1
Fuel adjustment clause	2		3		—		—		2		3
Gas line tracker	2		3		2		3		—		—
TCJA bill credit (c)	34		—		16		—		18		—
Other	7		2		4		—		3		2
Total current regulatory liabilities	$	63	$	9	$	29	$	3	$	34	$	6

Noncurrent Regulatory Liabilities:
Accumulated cost of removal of utility plant	$	677	$	677	$	280	$	282	$	397	395
Power purchase agreement - OVEC (d)	66		68		46		47		20		21
Net deferred taxes (e)	1,179		1,185		549		552		630		633
Defined benefit plans	28		27		—		—		28		27
Terminated interest rate swaps	74		74		37		37		37		37
Other	3		5		—		1		3		4
Total noncurrent regulatory liabilities	$	2,027	$	2,036	$	912	$	919	$	1,115	$	1,117


(a)	For PPL, these amounts are included in "Other current assets" on the Balance Sheets.


(b)	Storm costs incurred in PPL Electric's territory from a March 2018 storm will be amortized from 2019 through 2021.


(c)	Relates to estimated amounts owed to customers as a result of the reduced U.S. federal corporate income tax rate as enacted by the TCJA, effective January 1, 2018, not yet reflected in customer rates.


(d)	This liability was recorded as an offset to an intangible asset that was recorded at fair value upon the acquisition of LKE by PPL.


(e)	Primarily relates to excess deferred taxes recorded as a result of the TCJA, which reduced the U.S. federal corporate income tax rate effective January 1, 2018, requiring deferred tax balances and the associated regulatory liabilities to be remeasured as of December 31, 2017.