XML 59 R37.htm IDEA: XBRL DOCUMENT v3.19.1
Leases (Tables)
 3 Months Ended
Mar. 31, 2019
Lessee, Lease, Description [Line Items]  
Lease, Cost
The following table provides the components of lease cost for the Registrants' operating leases for the three months ended March 31, 2019.
 
PPL
 
LKE
 
LG&E
 
KU
Lease cost:
 
 
 
 
 
 
 
Operating lease cost
$
8

 
$
7

 
$
4

 
$
3

Short-term lease cost
1

 
—

 
—

 
—

Total lease cost
$
9

 
$
7

 
$
4

 
$
3


The following table provides other key information related to the Registrants' operating leases at March 31, 2019.
 
PPL
 
LKE
 
LG&E
 
KU
Cash paid for amounts included in the measurement of lease liabilities:
 
 
 
 
 
 
 
Operating cash flows from operating leases
$
8

 
$
7

 
$
4

 
$
3

Right-of-use asset obtained in exchange for new operating lease liabilities
4

 
4

 
1

 
3
Lessee, Operating Lease, Liability, Maturity
The following table provides the total future minimum rental payments for operating leases, as well as a reconciliation of these undiscounted cash flows to the lease liabilities recognized on the Balance Sheets as of March 31, 2019.
 
PPL
 
LKE
 
LG&E
 
KU
2019
$
23

 
$
19

 
$
8

 
$
11

2020
20

 
15

 
6

 
8

2021
14

 
11

 
4

 
6

2022
10

 
7

 
3

 
4

2023
7

 
6

 
3

 
3

2024
7

 
5

 
2

 
3

Thereafter
23

 
5

 
2

 
3

Total
$
104

 
$
68

 
$
28

 
$
38

 
 
 
 
 
 
 
 
Weighted-average discount rate
3.74
%
 
3.93
%
 
3.8
%
 
4.01
%
Weighted-average remaining lease term (in years)
9

 
5

 
5

 
4

Current lease liabilities (a)
$
21

 
$
16

 
$
7

 
$
9

Non-current lease liabilities (a)
64

 
43

 
18

 
24

Right-of-use assets (b)
76

 
51

 
20

 
29


(a)
Current lease liabilities are included in "Other Current Liabilities" on the Balance Sheets. Non-current lease liabilities are included in "Other deferred credits and noncurrent liabilities" on the Balance Sheets. The difference between the total future minimum lease payments and the recorded lease liabilities is due to the impact of discounting.
(b)
Right-of-use assets are included in "Other noncurrent assets" on the Balance Sheets.

At December 31, 2018, the total future minimum rental payments for all operating leases were estimated to be:
 
PPL
 
LKE
 
LG&E
 
KU
2019
$
26

 
$
20

 
$
10

 
$
10

2020
21

 
15

 
6

 
9

2021
15

 
11

 
4

 
7

2022
13

 
7

 
3

 
4

2023
8

 
6

 
3

 
3

Thereafter
33

 
11

 
4

 
6

Total
$
116

 
$
70

 
$
30

 
$
39
Lessor, Operating Lease, Payments to be Received, Maturity [Table Text Block]
At March 31, 2019, PPL, LKE and KU expect to receive the following lease payments over the remaining term of their operating lease agreements:

 
PPL
 
LKE
 
KU
2019
$
11

 
$
6

 
$
6

2020
13

 
7

 
7

2021
10

 
5

 
5

2022
4

 
—

 
—

2023
4

 
1

 
—

2024
4

 
—

 
—

Thereafter
12

 
—

 
—

Total
$
58

 
$
19

 
$
18

 
 
 
 
 
 
Lease income recognized for the three months ended March 31, 2019
$
4

 
$
2

 
$
2
LG And E And KU Energy LLC [Member]  
Lessee, Lease, Description [Line Items]  
Lease, Cost
The following table provides the components of lease cost for the Registrants' operating leases for the three months ended March 31, 2019.
 
PPL
 
LKE
 
LG&E
 
KU
Lease cost:
 
 
 
 
 
 
 
Operating lease cost
$
8

 
$
7

 
$
4

 
$
3

Short-term lease cost
1

 
—

 
—

 
—

Total lease cost
$
9

 
$
7

 
$
4

 
$
3


The following table provides other key information related to the Registrants' operating leases at March 31, 2019.
 
PPL
 
LKE
 
LG&E
 
KU
Cash paid for amounts included in the measurement of lease liabilities:
 
 
 
 
 
 
 
Operating cash flows from operating leases
$
8

 
$
7

 
$
4

 
$
3

Right-of-use asset obtained in exchange for new operating lease liabilities
4

 
4

 
1

 
3
Lessee, Operating Lease, Liability, Maturity
The following table provides the total future minimum rental payments for operating leases, as well as a reconciliation of these undiscounted cash flows to the lease liabilities recognized on the Balance Sheets as of March 31, 2019.
 
PPL
 
LKE
 
LG&E
 
KU
2019
$
23

 
$
19

 
$
8

 
$
11

2020
20

 
15

 
6

 
8

2021
14

 
11

 
4

 
6

2022
10

 
7

 
3

 
4

2023
7

 
6

 
3

 
3

2024
7

 
5

 
2

 
3

Thereafter
23

 
5

 
2

 
3

Total
$
104

 
$
68

 
$
28

 
$
38

 
 
 
 
 
 
 
 
Weighted-average discount rate
3.74
%
 
3.93
%
 
3.8
%
 
4.01
%
Weighted-average remaining lease term (in years)
9

 
5

 
5

 
4

Current lease liabilities (a)
$
21

 
$
16

 
$
7

 
$
9

Non-current lease liabilities (a)
64

 
43

 
18

 
24

Right-of-use assets (b)
76

 
51

 
20

 
29


(a)
Current lease liabilities are included in "Other Current Liabilities" on the Balance Sheets. Non-current lease liabilities are included in "Other deferred credits and noncurrent liabilities" on the Balance Sheets. The difference between the total future minimum lease payments and the recorded lease liabilities is due to the impact of discounting.
(b)
Right-of-use assets are included in "Other noncurrent assets" on the Balance Sheets.

At December 31, 2018, the total future minimum rental payments for all operating leases were estimated to be:
 
PPL
 
LKE
 
LG&E
 
KU
2019
$
26

 
$
20

 
$
10

 
$
10

2020
21

 
15

 
6

 
9

2021
15

 
11

 
4

 
7

2022
13

 
7

 
3

 
4

2023
8

 
6

 
3

 
3

Thereafter
33

 
11

 
4

 
6

Total
$
116

 
$
70

 
$
30

 
$
39
Lessor, Operating Lease, Payments to be Received, Maturity [Table Text Block]
At March 31, 2019, PPL, LKE and KU expect to receive the following lease payments over the remaining term of their operating lease agreements:

 
PPL
 
LKE
 
KU
2019
$
11

 
$
6

 
$
6

2020
13

 
7

 
7

2021
10

 
5

 
5

2022
4

 
—

 
—

2023
4

 
1

 
—

2024
4

 
—

 
—

Thereafter
12

 
—

 
—

Total
$
58

 
$
19

 
$
18

 
 
 
 
 
 
Lease income recognized for the three months ended March 31, 2019
$
4

 
$
2

 
$
2
Louisville Gas And Electric Co [Member]  
Lessee, Lease, Description [Line Items]  
Lease, Cost
The following table provides the components of lease cost for the Registrants' operating leases for the three months ended March 31, 2019.
 
PPL
 
LKE
 
LG&E
 
KU
Lease cost:
 
 
 
 
 
 
 
Operating lease cost
$
8

 
$
7

 
$
4

 
$
3

Short-term lease cost
1

 
—

 
—

 
—

Total lease cost
$
9

 
$
7

 
$
4

 
$
3


The following table provides other key information related to the Registrants' operating leases at March 31, 2019.
 
PPL
 
LKE
 
LG&E
 
KU
Cash paid for amounts included in the measurement of lease liabilities:
 
 
 
 
 
 
 
Operating cash flows from operating leases
$
8

 
$
7

 
$
4

 
$
3

Right-of-use asset obtained in exchange for new operating lease liabilities
4

 
4

 
1

 
3
Lessee, Operating Lease, Liability, Maturity
The following table provides the total future minimum rental payments for operating leases, as well as a reconciliation of these undiscounted cash flows to the lease liabilities recognized on the Balance Sheets as of March 31, 2019.
 
PPL
 
LKE
 
LG&E
 
KU
2019
$
23

 
$
19

 
$
8

 
$
11

2020
20

 
15

 
6

 
8

2021
14

 
11

 
4

 
6

2022
10

 
7

 
3

 
4

2023
7

 
6

 
3

 
3

2024
7

 
5

 
2

 
3

Thereafter
23

 
5

 
2

 
3

Total
$
104

 
$
68

 
$
28

 
$
38

 
 
 
 
 
 
 
 
Weighted-average discount rate
3.74
%
 
3.93
%
 
3.8
%
 
4.01
%
Weighted-average remaining lease term (in years)
9

 
5

 
5

 
4

Current lease liabilities (a)
$
21

 
$
16

 
$
7

 
$
9

Non-current lease liabilities (a)
64

 
43

 
18

 
24

Right-of-use assets (b)
76

 
51

 
20

 
29


(a)
Current lease liabilities are included in "Other Current Liabilities" on the Balance Sheets. Non-current lease liabilities are included in "Other deferred credits and noncurrent liabilities" on the Balance Sheets. The difference between the total future minimum lease payments and the recorded lease liabilities is due to the impact of discounting.
(b)
Right-of-use assets are included in "Other noncurrent assets" on the Balance Sheets.

At December 31, 2018, the total future minimum rental payments for all operating leases were estimated to be:
 
PPL
 
LKE
 
LG&E
 
KU
2019
$
26

 
$
20

 
$
10

 
$
10

2020
21

 
15

 
6

 
9

2021
15

 
11

 
4

 
7

2022
13

 
7

 
3

 
4

2023
8

 
6

 
3

 
3

Thereafter
33

 
11

 
4

 
6

Total
$
116

 
$
70

 
$
30

 
$
39
Kentucky Utilities Co [Member]  
Lessee, Lease, Description [Line Items]  
Lease, Cost
The following table provides the components of lease cost for the Registrants' operating leases for the three months ended March 31, 2019.
 
PPL
 
LKE
 
LG&E
 
KU
Lease cost:
 
 
 
 
 
 
 
Operating lease cost
$
8

 
$
7

 
$
4

 
$
3

Short-term lease cost
1

 
—

 
—

 
—

Total lease cost
$
9

 
$
7

 
$
4

 
$
3


The following table provides other key information related to the Registrants' operating leases at March 31, 2019.
 
PPL
 
LKE
 
LG&E
 
KU
Cash paid for amounts included in the measurement of lease liabilities:
 
 
 
 
 
 
 
Operating cash flows from operating leases
$
8

 
$
7

 
$
4

 
$
3

Right-of-use asset obtained in exchange for new operating lease liabilities
4

 
4

 
1

 
3
Lessee, Operating Lease, Liability, Maturity
The following table provides the total future minimum rental payments for operating leases, as well as a reconciliation of these undiscounted cash flows to the lease liabilities recognized on the Balance Sheets as of March 31, 2019.
 
PPL
 
LKE
 
LG&E
 
KU
2019
$
23

 
$
19

 
$
8

 
$
11

2020
20

 
15

 
6

 
8

2021
14

 
11

 
4

 
6

2022
10

 
7

 
3

 
4

2023
7

 
6

 
3

 
3

2024
7

 
5

 
2

 
3

Thereafter
23

 
5

 
2

 
3

Total
$
104

 
$
68

 
$
28

 
$
38

 
 
 
 
 
 
 
 
Weighted-average discount rate
3.74
%
 
3.93
%
 
3.8
%
 
4.01
%
Weighted-average remaining lease term (in years)
9

 
5

 
5

 
4

Current lease liabilities (a)
$
21

 
$
16

 
$
7

 
$
9

Non-current lease liabilities (a)
64

 
43

 
18

 
24

Right-of-use assets (b)
76

 
51

 
20

 
29


(a)
Current lease liabilities are included in "Other Current Liabilities" on the Balance Sheets. Non-current lease liabilities are included in "Other deferred credits and noncurrent liabilities" on the Balance Sheets. The difference between the total future minimum lease payments and the recorded lease liabilities is due to the impact of discounting.
(b)
Right-of-use assets are included in "Other noncurrent assets" on the Balance Sheets.

At December 31, 2018, the total future minimum rental payments for all operating leases were estimated to be:
 
PPL
 
LKE
 
LG&E
 
KU
2019
$
26

 
$
20

 
$
10

 
$
10

2020
21

 
15

 
6

 
9

2021
15

 
11

 
4

 
7

2022
13

 
7

 
3

 
4

2023
8

 
6

 
3

 
3

Thereafter
33

 
11

 
4

 
6

Total
$
116

 
$
70

 
$
30

 
$
39
Lessor, Operating Lease, Payments to be Received, Maturity [Table Text Block]
At March 31, 2019, PPL, LKE and KU expect to receive the following lease payments over the remaining term of their operating lease agreements:

 
PPL
 
LKE
 
KU
2019
$
11

 
$
6

 
$
6

2020
13

 
7

 
7

2021
10

 
5

 
5

2022
4

 
—

 
—

2023
4

 
1

 
—

2024
4

 
—

 
—

Thereafter
12

 
—

 
—

Total
$
58

 
$
19

 
$
18

 
 
 
 
 
 
Lease income recognized for the three months ended March 31, 2019
$
4

 
$
2

 
$
2