Goodwill and Other Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2019

Goodwill and Other Intangible Assets [Line Items]

Goodwill Rollforward

The changes in the carrying amount of goodwill by segment were:

	U.K. Regulated					Kentucky Regulated				Corporate and Other				Total
	2019		2018			2019		2018		2019		2018		2019		2018
Balance at beginning of period (a)	$	2,447	$	2,596		$	662	$	662	$	53	$	—	$	3,162	$	3,258
Effect of foreign currency exchange rates	34		(149		)	—		—		—		—		34		(149		)
Goodwill recognized during the period (b)	—		—			—		—		—		53		—		53
Other	2		—			—		—		—		—		2		—
Balance at end of period (a)	$	2,483	$	2,447		$	662	$	662	$	53	$	53	$	3,198	$	3,162

(a) There were no accumulated impairment losses related to goodwill.

(b)

Recognized as a result of the acquisition of Safari Energy.

Other Intangible Assets

The gross carrying amount and the accumulated amortization of other intangible assets were:

	December 31, 2019				December 31, 2018
	Gross Carrying Amount		Accumulated Amortization		Gross Carrying Amount		Accumulated Amortization
Subject to amortization:
Contracts (a)	$	136	$	84	$	137	$	75
Land rights and easements	440		135		418		128
Licenses and other	22		3		21		1
Total subject to amortization	598		222		576		204
Not subject to amortization due to indefinite life:
Land rights and easements	361		—		339		—
Other	6		—		6		—
Total not subject to amortization due to indefinite life	367		—		345		—
Total	$	965	$	222	$	921	$	204

(a) Gross carrying amount in 2019 and 2018 includes the fair value at the acquisition date of the OVEC power purchase contract with terms favorable to market recognized as a result of the 2010 acquisition of LKE by PPL.

Amortization Expense, Excluding Consumption of Emission Allowances / Renewable Energy Credits

Amortization expense was as follows:
	2019		2018		2017
Intangible assets with no regulatory offset	$	9	$	7	$	6
Intangible assets with regulatory offset	9		8		9
Total	$	18	$	15	$	15

Future Amortization Expense

Amortization expense for each of the next five years is estimated to be:

	2020		2021		2022		2023		2024
Intangible assets with no regulatory offset	$	9	$	9	$	9	$	9	$	9
Intangible assets with regulatory offset	8		8		8		8		8
Total	$	17	$	17	$	17	$	17	$	17

PPL Electric Utilities Corp [Member]

Goodwill and Other Intangible Assets [Line Items]

Other Intangible Assets

The gross carrying amount and the accumulated amortization of other intangible assets were:

	December 31, 2019				December 31, 2018
	Gross Carrying Amount		Accumulated Amortization		Gross Carrying Amount		Accumulated Amortization
Subject to amortization:
Land rights and easements	$	370	$	125	$	363	$	121
Licenses and other	3		1		2		1
Total subject to amortization	373		126		365		122
Not subject to amortization due to indefinite life:
Land rights and easements	17		—		17		—
Total	$	390	$	126	$	382	$	122

LG And E And KU Energy LLC [Member]

Goodwill and Other Intangible Assets [Line Items]

Other Intangible Assets

The gross carrying amount and the accumulated amortization of other intangible assets were:

	December 31, 2019				December 31, 2018
	Gross Carrying Amount		Accumulated Amortization		Gross Carrying Amount		Accumulated Amortization
Subject to amortization:
Land rights and easements	$	22	$	4	$	21	$	3
OVEC power purchase agreement (a)	125		74		126		66
Total subject to amortization	$	147	$	78	$	147	$	69

(a)

Gross carrying amount represents the fair value at the acquisition date of the OVEC power purchase contract recognized as a result of the 2010 acquisition by PPL. An offsetting regulatory liability was recorded related to this contract, which is being amortized over the same period as the intangible asset, eliminating any income statement impact. See Note 7 for additional information.

Amortization Expense, Excluding Consumption of Emission Allowances / Renewable Energy Credits

Amortization expense was as follows:

	2019		2018		2017
Intangible assets with regulatory offset	$	9	$	8	$	9

Future Amortization Expense

Amortization expense for each of the next five years is estimated to be:

	2020		2021		2022		2023		2024
Intangible assets with regulatory offset	$	8	$	8	$	8	$	8	$	8

Louisville Gas And Electric Co [Member]

Goodwill and Other Intangible Assets [Line Items]

Other Intangible Assets

The gross carrying amount and the accumulated amortization of other intangible assets were:

	December 31, 2019				December 31, 2018
	Gross Carrying Amount		Accumulated Amortization		Gross Carrying Amount		Accumulated Amortization
Subject to amortization:
Land rights and easements	$	7	$	1	$	7	$	1
OVEC power purchase agreement (a)	86		51		87		46
Total subject to amortization	$	93	$	52	$	94	$	47

(a) Gross carrying amount represents the fair value at the acquisition date of the OVEC power purchase contract recognized as a result of the 2010 acquisition by PPL. An offsetting regulatory liability was recorded related to this contract, which is being amortized over the same period as the intangible asset, eliminating any income statement impact. See Note 7 for additional information.

Amortization Expense, Excluding Consumption of Emission Allowances / Renewable Energy Credits

Amortization expense was as follows:

	2019		2018		2017
Intangible assets with regulatory offset	$	6	$	6	$	6

Future Amortization Expense

Amortization expense for each of the next five years is estimated to be:

	2020		2021		2022		2023		2024
Intangible assets with regulatory offset	$	6	$	6	$	6	$	6	$	6

Kentucky Utilities Co [Member]

Goodwill and Other Intangible Assets [Line Items]

Other Intangible Assets

The gross carrying amount and the accumulated amortization of other intangible assets were:

	December 31, 2019				December 31, 2018
	Gross Carrying Amount		Accumulated Amortization		Gross Carrying Amount		Accumulated Amortization
Subject to amortization:
Land rights and easements	$	15	$	3	$	14	$	2
OVEC power purchase agreement (a)	39		23		39		20
Total subject to amortization	$	54	$	26	$	53	$	22

(a)

Gross carrying amount represents the fair value at the acquisition date of the OVEC power purchase contract recognized as a result of the 2010 acquisition by PPL. An offsetting regulatory liability was recorded related to this contract, which is being amortized over the same period as the intangible asset, eliminating any income statement impact. See Note 7 for additional information.

Amortization Expense, Excluding Consumption of Emission Allowances / Renewable Energy Credits

Amortization expense was as follows:

	2019		2018		2017
Intangible assets with regulatory offset	$	3	$	2	$	3

Future Amortization Expense

Amortization expense for each of the next five years is estimated to be:

	2020		2021		2022		2023		2024
Intangible assets with regulatory offset	$	2	$	2	$	2	$	2	$	2