Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2018

The assets and liabilities measured at fair value were:



	December 31, 2018								December 31, 2017
	Total		Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3
PPL
Assets
Cash and cash equivalents	$	621	$	621	$	—	$	—	$	485	$	485	$	—	$	—
Restricted cash and cash equivalents (a)	22		22		—		—		26		26		—		—
Special use funds (a)	59		59		—		—		—		—		—		—
Price risk management assets (b):
Foreign currency contracts	202		—		202		—		163		—		163		—
Cross-currency swaps	135		—		135		—		101		—		101		—
Total price risk management assets	337		—		337		—		264		—		264		—
Total assets	$	1,039	$	702	$	337	$	—	$	775	$	511	$	264	$	—



	December 31, 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	$	20	$	—	$	20	$	—	$	26	$	—	$	26	$	—
Foreign currency contracts	2		—		2		—		148		—		148		—
Total price risk management liabilities	$	22	$	—	$	22	$	—	$	174	$	—	$	174	$	—

PPL Electric
Assets
Cash and cash equivalents	$	267	$	267	$	—	$	—	$	49	$	49	$	—	$	—
Restricted cash and cash equivalents (a)	2		2		—		—		2		2		—		—
Total assets	$	269	$	269	$	—	$	—	$	51	$	51	$	—	$	—

LKE
Assets
Cash and cash equivalents	$	24	$	24	$	—	$	—	$	30	$	30	$	—	$	—
Total assets	$	24	$	24	$	—	$	—	$	30	$	30	$	—	$	—

Liabilities
Price risk management liabilities:
Interest rate swaps	$	20	$	—	$	20	$	—	$	26	$	—	$	26	$	—
Total price risk management liabilities	$	20	$	—	$	20	$	—	$	26	$	—	$	26	$	—

LG&E
Assets
Cash and cash equivalents	$	10	$	10	$	—	$	—	$	15	$	15	$	—	$	—
Total assets	$	10	$	10	$	—	$	—	$	15	$	15	$	—	$	—

Liabilities
Price risk management liabilities:
Interest rate swaps	$	20	$	—	$	20	$	—	$	26	$	—	$	26	$	—
Total price risk management liabilities	$	20	$	—	$	20	$	—	$	26	$	—	$	26	$	—

KU
Assets
Cash and cash equivalents	$	14	$	14	$	—	$	—	$	15	$	15	$	—	$	—
Total assets	$	14	$	14	$	—	$	—	$	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.

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