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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Cash Flows from Operating Activities      
Net income $ 1,827 $ 1,128 $ 1,902
Adjustments to reconcile net income to net cash provided by operating activities      
Depreciation 1,094 1,008 926
Amortization 78 97 80
Defined benefit plans - expense (income) (192) (95) (40)
Deferred income taxes and investment tax credits 355 707 560
Unrealized (gains) losses on derivatives, and other hedging activities (186) 178 19
Stock compensation expense 26 38 28
Other (3) (9) (12)
Change in current assets and current liabilities      
Accounts receivable 28 (33) (15)
Accounts payable 78 (10) 57
Unbilled Revenues 41 (48) (63)
Fuel, materials and supplies 17 40 (3)
Customer Deposits (35) 16 (50)
Regulatory assets and liabilities, net 13 (12) (59)
Other Current Liabilities (22) 6 (6)
Other 33 (5) 55
Other operating activities      
Defined benefit plans - funding (361) (565) (427)
Proceeds from transfer of excess benefit plan funds 65 0 0
Other assets (75) 32 33
Other liabilities 40 (12) (95)
Net cash provided by operating activities 2,821 2,461 2,890
Cash Flows from Investing Activities      
Expenditures for property, plant and equipment (3,238) (3,133) (2,920)
Purchase of available-for-sale securities (65) 0 0
Other investing activities (58) (28) (6)
Net cash provided by (used in) investing activities (3,361) (3,161) (2,926)
Cash Flows from Financing Activities      
Issuance of long-term debt 1,059 1,515 1,342
Retirement of long-term debt (277) (168) (930)
Issuance of common stock 698 453 144
Payment of common stock dividends (1,133) (1,072) (1,030)
Net increase (decrease) in short-term debt 363 115 29
Other financing activities (20) (19) 6
Net cash provided by (used in) financing activities 690 824 (439)
Effect of Exchange Rates on Cash, Cash Equivalents and Restricted Cash (18) 15 (28)
Net Increase (Decrease) in Cash, Cash Equivalents and Restricted Cash 132 139 (503)
Cash and Cash Equivalents at Beginning of Period 485    
Cash and Cash Equivalents at End of Period 621 485  
Cash, Cash Equivalents and Restricted Cash at Beginning of Period 511 372 875
Cash, Cash Equivalents and Restricted Cash at End of Period 643 511 372
Supplemental Disclosures of Cash Flow Information:      
Interest - net of amount capitalized 910 845 854
Income taxes - net 127 65 70
Accrued expenditures for property, plant and equipment at December 31, 345 360 281
Accrued expenditures for intangible assets at December 31, 64 68 117
PPL Electric Utilities Corp [Member]      
Cash Flows from Operating Activities      
Net income [1] 430 362 340
Adjustments to reconcile net income to net cash provided by operating activities      
Depreciation 352 309 253
Amortization 22 33 32
Defined benefit plans - expense (income) 3 12 11
Deferred income taxes and investment tax credits 125 258 221
Other (4) (8) (13)
Change in current assets and current liabilities      
Accounts receivable 47 (57) 16
Accounts payable 10 3 58
Unbilled Revenues 7 (13) (23)
Prepayments 1 3 43
Taxes payable 4 (4) (12)
Regulatory assets and liabilities, net (19) (5) (62)
Other 10 (1) (7)
Other operating activities      
Defined benefit plans - funding (28) (24) 0
Other assets (37) 15 19
Other liabilities 55 (3) (4)
Net cash provided by operating activities 978 880 872
Cash Flows from Investing Activities      
Expenditures for property, plant and equipment (1,192) (1,244) (1,125)
Expenditures for intangible assets (4) (10) (9)
Other investing activities 3 2 4
Net cash provided by (used in) investing activities (1,193) (1,252) (1,130)
Cash Flows from Financing Activities      
Issuance of long-term debt 398 470 224
Retirement of long-term debt 0 0 (224)
Contributions from parent 429 575 220
Payment of common stock dividends to parent (390) (336) (288)
Net increase (decrease) in short-term debt 0 (295) 295
Other financing activities (4) (6) (3)
Net cash provided by (used in) financing activities 433 408 224
Net Increase (Decrease) in Cash, Cash Equivalents and Restricted Cash 218 36 (34)
Cash and Cash Equivalents at Beginning of Period 49    
Cash and Cash Equivalents at End of Period 267 49  
Cash, Cash Equivalents and Restricted Cash at Beginning of Period 51 15 49
Cash, Cash Equivalents and Restricted Cash at End of Period 269 51 15
Supplemental Disclosures of Cash Flow Information:      
Interest - net of amount capitalized 144 128 115
Income taxes - net (20) 4 (48)
Accrued expenditures for property, plant and equipment at December 31, 158 133 126
LG And E And KU Energy LLC [Member]      
Cash Flows from Operating Activities      
Net income 445 316 429
Adjustments to reconcile net income to net cash provided by operating activities      
Depreciation 475 439 404
Amortization 18 24 29
Defined benefit plans - expense (income) 17 25 27
Deferred income taxes and investment tax credits 94 294 291
Other (4) 0 0
Change in current assets and current liabilities      
Accounts receivable 1 (12) (31)
Accounts payable 39 (9) 24
Unbilled Revenues 34 (33) (23)
Accounts payable to affiliates 2 2 1
Fuel, materials and supplies 7 45 2
Taxes payable (3) 27 (7)
Regulatory assets and liabilities, net 32 (7) 1
Other (24) 41 (6)
Other operating activities      
Defined benefit plans - funding (131) (35) (85)
Settlement of interest rate swaps 0 0 (9)
Expenditures for asset retirement obligations (72) (34) (26)
Other assets (24) 8 2
Other liabilities 9 8 4
Net cash provided by operating activities 915 1,099 1,027
Cash Flows from Investing Activities      
Expenditures for property, plant and equipment (1,117) (892) (791)
Other investing activities 1 4 1
Net cash provided by (used in) investing activities (1,116) (888) (790)
Cash Flows from Financing Activities      
Issuance of long-term debt 118 160 221
Issuance of long-term note with affiliate 250 0 0
Retirement of long-term debt (27) (70) (246)
Contributions from member 0 0 61
Distributions to member (302) (402) (316)
Net increase (decrease) in notes payable to affiliates (112) 62 109
Net increase (decrease) in short-term debt 270 59 (80)
Other financing activities (2) (3) (3)
Net cash provided by (used in) financing activities 195 (194) (254)
Net Increase (Decrease) in Cash and Cash Equivalents (6) 17 (17)
Cash and Cash Equivalents at Beginning of Period 30 13 30
Cash and Cash Equivalents at End of Period 24 30 13
Supplemental Disclosures of Cash Flow Information:      
Interest - net of amount capitalized 218 204 198
Income taxes - net 46 48 (24)
Accrued expenditures for property, plant and equipment at December 31, 150 174 104
Louisville Gas And Electric Co [Member]      
Cash Flows from Operating Activities      
Net income [2] 233 213 203
Adjustments to reconcile net income to net cash provided by operating activities      
Depreciation 195 183 170
Amortization 14 14 14
Defined benefit plans - expense (income) 3 7 8
Deferred income taxes and investment tax credits 60 126 147
Other 0 1 0
Change in current assets and current liabilities      
Accounts receivable 4 (7) (22)
Accounts receivable from affiliates 0 4 (16)
Accounts payable 10 (7) 31
Unbilled Revenues 14 (16) (8)
Accounts payable to affiliates 1 (4) 1
Fuel, materials and supplies 4 12 8
Taxes payable 1 (15) 20
Regulatory assets and liabilities, net 5 (5) (1)
Other (10) 16 (2)
Other operating activities      
Defined benefit plans - funding (61) (4) (46)
Settlement of interest rate swaps 0 0 (9)
Expenditures for asset retirement obligations (22) (15) (18)
Other assets (12) 5 0
Other liabilities 4 4 2
Net cash provided by operating activities 443 512 482
Cash Flows from Investing Activities      
Expenditures for property, plant and equipment (554) (458) (439)
Net cash provided by (used in) investing activities (554) (458) (439)
Cash Flows from Financing Activities      
Issuance of long-term debt 100 160 125
Retirement of long-term debt 0 (70) (150)
Contributions from parent 83 30 71
Payment of common stock dividends to parent (156) (192) (128)
Net increase (decrease) in short-term debt 80 30 27
Other financing activities (1) (2) (2)
Net cash provided by (used in) financing activities 106 (44) (57)
Net Increase (Decrease) in Cash and Cash Equivalents (5) 10 (14)
Cash and Cash Equivalents at Beginning of Period 15 5 19
Cash and Cash Equivalents at End of Period 10 15 5
Supplemental Disclosures of Cash Flow Information:      
Interest - net of amount capitalized 71 65 65
Income taxes - net 7 22 (43)
Accrued expenditures for property, plant and equipment at December 31, 61 92 56
Kentucky Utilities Co [Member]      
Cash Flows from Operating Activities      
Net income [3] 286 259 265
Adjustments to reconcile net income to net cash provided by operating activities      
Depreciation 279 255 234
Amortization 3 9 14
Defined benefit plans - expense (income) 0 4 5
Deferred income taxes and investment tax credits 48 152 126
Other (4) 0 (1)
Change in current assets and current liabilities      
Accounts receivable (4) (5) (8)
Accounts payable 29 0 (10)
Unbilled Revenues 20 (17) (15)
Accounts payable to affiliates (3) (6) 15
Fuel, materials and supplies 3 32 (6)
Taxes payable 5 (26) 25
Regulatory assets and liabilities, net 27 (2) 2
Other (3) 9 (4)
Other operating activities      
Defined benefit plans - funding (54) (23) (20)
Expenditures for asset retirement obligations (50) (19) (8)
Other assets (12) 3 (6)
Other liabilities 11 9 (2)
Net cash provided by operating activities 581 634 606
Cash Flows from Investing Activities      
Expenditures for property, plant and equipment (562) (432) (350)
Other investing activities 1 4 1
Net cash provided by (used in) investing activities (561) (428) (349)
Cash Flows from Financing Activities      
Issuance of long-term debt 18 0 96
Retirement of long-term debt (27) 0 (96)
Contributions from parent 45 0 20
Payment of common stock dividends to parent (246) (226) (248)
Net increase (decrease) in short-term debt 190 29 (32)
Other financing activities (1) (1) (1)
Net cash provided by (used in) financing activities (21) (198) (261)
Net Increase (Decrease) in Cash and Cash Equivalents (1) 8 (4)
Cash and Cash Equivalents at Beginning of Period 15 7 11
Cash and Cash Equivalents at End of Period 14 15 7
Supplemental Disclosures of Cash Flow Information:      
Interest - net of amount capitalized 95 92 89
Income taxes - net 25 34 13
Accrued expenditures for property, plant and equipment at December 31, $ 88 $ 82 $ 47
[1] Net income equals comprehensive income.
[2] Net income equals comprehensive income.
[3] Net income approximates comprehensive income.