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Fair Value Measurements (Tables)
9 Months Ended
Sep. 30, 2018
Fair Value Disclosures [Abstract]  
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis
The assets and liabilities measured at fair value were:
 
September 30, 2018
 
December 31, 2017
 
Total
 
Level 1
 
Level 2
 
Level 3
 
Total
 
Level 1
 
Level 2
 
Level 3
PPL
 

 
 

 
 

 
 

 
 

 
 

 
 

 
 

Assets
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
$
842

 
$
842

 
$

 
$

 
$
485

 
$
485

 
$

 
$

Restricted cash and cash equivalents (a)
22

 
22

 

 

 
26

 
26

 

 

Special use funds (a)
63

 
63

 

 

 

 

 

 

Price risk management assets (b):
 

 
 

 


 


 
 

 
 

 
 

 
 

Foreign currency contracts
174

 

 
174

 

 
163

 

 
163

 

Cross-currency swaps
123

 

 
123

 

 
101

 

 
101

 

Total price risk management assets
297

 

 
297

 

 
264

 

 
264

 

Total assets
$
1,224

 
$
927

 
$
297

 
$

 
$
775

 
$
511

 
$
264

 
$

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
September 30, 2018
 
December 31, 2017
 
Total
 
Level 1
 
Level 2
 
Level 3
 
Total
 
Level 1
 
Level 2
 
Level 3
Liabilities
 

 
 

 
 

 
 

 
 

 
 

 
 

 
 

Price risk management liabilities (b):
 

 
 

 
 

 
 

 
 

 
 

 
 

 
 

Interest rate swaps
$
19

 
$

 
$
19

 
$

 
$
26

 
$

 
$
26

 
$

Foreign currency contracts
30

 

 
30

 

 
148

 

 
148

 

Total price risk management liabilities
$
49

 
$

 
$
49

 
$

 
$
174

 
$

 
$
174

 
$

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
PPL Electric
 

 
 

 
 

 
 

 
 

 
 

 
 

 
 

Assets
 

 
 

 
 

 
 

 
 

 
 

 
 

 
 

Cash and cash equivalents
$
414

 
$
414

 
$

 
$

 
$
49

 
$
49

 
$

 
$

Restricted cash and cash equivalents (a)
2

 
2

 

 

 
2

 
2

 

 

Total assets
$
416

 
$
416

 
$

 
$

 
$
51

 
$
51

 
$

 
$

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
LKE
 

 
 

 
 

 
 

 
 

 
 

 
 
 
 
Assets
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and cash equivalents       
$
29

 
$
29

 
$

 
$

 
$
30

 
$
30

 
$

 
$

Total assets
$
29

 
$
29

 
$

 
$

 
$
30

 
$
30

 
$

 
$

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Liabilities
 

 
 

 
 

 
 

 
 

 
 

 
 
 
 
Price risk management liabilities:
 

 
 

 
 

 
 

 
 

 
 

 
 
 
 
Interest rate swaps
$
19

 
$

 
$
19

 
$

 
$
26

 
$

 
$
26

 
$

Total price risk management liabilities
$
19

 
$

 
$
19

 
$

 
$
26

 
$

 
$
26

 
$

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
LG&E
 

 
 

 
 

 
 

 
 

 
 

 
 
 
 
Assets
 

 
 

 
 

 
 

 
 

 
 

 
 
 
 
Cash and cash equivalents
$
11

 
$
11

 
$

 
$

 
$
15

 
$
15

 
$

 
$

Total assets
$
11

 
$
11

 
$

 
$

 
$
15

 
$
15

 
$

 
$

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Liabilities
 

 
 

 
 

 
 

 
 

 
 

 
 
 
 
Price risk management liabilities:
 

 
 

 
 

 
 

 
 

 
 

 
 
 
 
Interest rate swaps
$
19

 
$

 
$
19

 
$

 
$
26

 
$

 
$
26

 
$

Total price risk management liabilities
$
19

 
$

 
$
19

 
$

 
$
26

 
$

 
$
26

 
$

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
KU
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Assets
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
$
18

 
$
18

 
$

 
$

 
$
15

 
$
15

 
$

 
$

Total assets
$
18

 
$
18

 
$

 
$

 
$
15

 
$
15

 
$

 
$


(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.

Fair Value, by Balance Sheet Grouping
The carrying amounts of long-term debt on the Balance Sheets and their estimated fair values are set forth below.

 
September 30, 2018
 
December 31, 2017
 
Carrying
Amount (a)
 
Fair Value
 
Carrying
Amount (a)
 
Fair Value
PPL
$
20,254

 
$
23,023

 
$
20,195

 
$
23,783

PPL Electric
3,693

 
3,899

 
3,298

 
3,769

LKE
5,501

 
5,783

 
5,159

 
5,670

LG&E
1,808

 
1,879

 
1,709

 
1,865

KU
2,320

 
2,467

 
2,328

 
2,605


(a)
Amounts are net of debt issuance costs.