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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands, $ in Millions
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Operating Revenues      
Operating Revenues $ 7,769 $ 7,785 $ 7,447
Operation      
Fuel 709 799 759
Energy purchases 723 745 685
Other operation and maintenance 1,985 1,983 1,802
Depreciation 1,199 1,094 1,008
Taxes, other than income 313 312 292
Total Operating Expenses 4,929 4,933 4,546
Operating Income 2,840 2,852 2,901
Other Income (Expense) - net 309 396 (88)
Interest Expense 994 963 901
Income Before Income Taxes 2,155 2,285 1,912
Income Taxes 409 458 784
Net income $ 1,746 $ 1,827 $ 1,128
Net Income Available to PPL Common Shareowners      
Basic (in dollars per share) $ 2.39 $ 2.59 $ 1.64
Diluted (in dollars per share) $ 2.37 $ 2.58 $ 1.64
Weighted-Average Shares of Common Stock Outstanding (in thousands)      
Basic 728,512 704,439 685,240
Diluted 736,754 708,619 687,334
PPL Electric Utilities Corp [Member]      
Operating Revenues      
Operating Revenues $ 2,358 $ 2,277 $ 2,195
Operation      
Energy purchases 549 544 507
Other operation and maintenance 566 578 572
Depreciation 386 352 309
Taxes, other than income 112 109 107
Total Operating Expenses 1,613 1,583 1,495
Operating Income 745 694 700
Other Income (Expense) - net 25 23 12
Interest Income from Affiliate 6 8 5
Interest Expense 170 159 142
Income Before Income Taxes 606 566 575
Income Taxes 149 136 213
Net income [1] 457 430 362
LG And E And KU Energy LLC [Member]      
Operating Revenues      
Operating Revenues 3,206 3,214 3,156
Operation      
Fuel 709 799 759
Energy purchases 174 201 178
Other operation and maintenance 861 848 801
Depreciation 547 475 439
Taxes, other than income 74 70 65
Total Operating Expenses 2,365 2,393 2,242
Operating Income 841 821 914
Other Income (Expense) - net (13) (16) (8)
Interest Expense 226 206 197
Interest Expense with Affiliates 31 25 18
Income Before Income Taxes 571 574 691
Income Taxes 103 129 375
Net income 468 445 316
Louisville Gas And Electric Co [Member]      
Operating Revenues      
Retail and wholesale 1,473 1,467 1,422
Electric revenue from affiliates 27 29 31
Operating Revenues 1,500 1,496 1,453
Operation      
Fuel 289 308 292
Energy purchases 154 183 160
Energy purchases from affiliate 7 13 10
Other operation and maintenance 387 376 350
Depreciation 231 195 183
Taxes, other than income 39 36 33
Total Operating Expenses 1,107 1,111 1,028
Operating Income 393 385 425
Other Income (Expense) - net (11) (12) (10)
Interest Expense 87 76 71
Income Before Income Taxes 295 297 344
Income Taxes 63 64 131
Net income [2] 232 233 213
Kentucky Utilities Co [Member]      
Operating Revenues      
Retail and wholesale 1,733 1,747 1,734
Electric revenue from affiliates 7 13 10
Operating Revenues 1,740 1,760 1,744
Operation      
Fuel 420 491 467
Energy purchases 20 18 18
Energy purchases from affiliate 27 29 31
Other operation and maintenance 438 441 423
Depreciation 315 279 255
Taxes, other than income 35 34 32
Total Operating Expenses 1,255 1,292 1,226
Operating Income 485 468 518
Other Income (Expense) - net (4) (6) (4)
Interest Expense 109 100 96
Income Before Income Taxes 372 362 418
Income Taxes 79 76 159
Net income [3] $ 293 $ 286 $ 259
[1]
Net income equals comprehensive income.
[2]
Net income equals comprehensive income.
[3]
Net income approximates comprehensive income.