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CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($)
shares in Thousands, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Operating Revenues        
Operating Revenues $ 1,739 $ 1,803 $ 3,793 $ 3,882
Operation        
Fuel 138 168 301 362
Energy purchases 133 138 334 388
Other operation and maintenance 487 482 963 972
Depreciation 319 300 636 584
Taxes, other than income 67 75 147 155
Total Operating Expenses 1,144 1,163 2,381 2,461
Operating Income 595 640 1,412 1,421
Other Income (Expense) - net 76 131 201 183
Interest Expense 253 246 501 487
Income Before Income Taxes 418 525 1,112 1,117
Income Taxes 74 84 214 210
Net Income $ 344 $ 441 $ 898 $ 907
Net Income:        
Basic (in dollars per share) $ 0.45 $ 0.61 $ 1.17 $ 1.26
Diluted (in dollars per share) $ 0.45 $ 0.60 $ 1.17 $ 1.24
Weighted-Average Shares of Common Stock Outstanding (in thousands)        
Basic (in shares) 768,768 721,785 768,358 721,406
Diluted (in shares) 769,408 730,915 769,073 730,436
PPL Electric Utilities Corp [Member]        
Operating Revenues        
Operating Revenues $ 554 $ 521 $ 1,162 $ 1,166
Operation        
Energy purchases 111 110 255 281
Other operation and maintenance 129 130 266 280
Depreciation 101 96 199 191
Taxes, other than income 18 24 48 55
Total Operating Expenses 359 360 768 807
Operating Income 195 161 394 359
Other Income (Expense) - net 5 6 8 11
Interest Income from Affiliate 0 0 1 2
Interest Expense 42 41 86 83
Income Before Income Taxes 158 126 317 289
Income Taxes 40 32 81 74
Net Income [1] 118 94 236 215
LG And E And KU Energy LLC [Member]        
Operating Revenues        
Operating Revenues 700 732 1,525 1,577
Operation        
Fuel 138 168 301 362
Energy purchases 22 27 79 106
Other operation and maintenance 207 208 411 422
Depreciation 151 135 300 258
Taxes, other than income 18 18 36 36
Total Operating Expenses 536 556 1,127 1,184
Operating Income 164 176 398 393
Other Income (Expense) - net 2 0 2 0
Interest Expense 58 58 116 112
Interest Expense with Affiliate 8 9 15 16
Income Before Income Taxes 100 109 269 265
Income Taxes 17 3 51 35
Net Income 83 106 [2] 218 [2] 230 [2]
Louisville Gas And Electric Co [Member]        
Operating Revenues        
Retail and wholesale 320 328 713 725
Electric revenue from affiliate 2 6 16 19
Operating Revenues 322 334 729 744
Operation        
Fuel 50 69 124 147
Energy purchases 18 22 70 96
Energy purchases from affiliate 8 2 8 4
Other operation and maintenance 92 96 184 190
Depreciation 65 56 129 107
Taxes, other than income 9 10 19 19
Total Operating Expenses 242 255 534 563
Operating Income 80 79 195 181
Other Income (Expense) - net 1 (1) 0 (1)
Interest Expense 22 22 44 43
Income Before Income Taxes 59 56 151 137
Income Taxes 12 12 31 29
Net Income [3] 47 44 120 108
Kentucky Utilities Co [Member]        
Operating Revenues        
Retail and wholesale 380 404 812 852
Electric revenue from affiliate 8 2 8 4
Operating Revenues 388 406 820 856
Operation        
Fuel 88 99 177 215
Energy purchases 4 5 9 10
Energy purchases from affiliate 2 6 16 19
Other operation and maintenance 107 105 211 213
Depreciation 86 78 170 150
Taxes, other than income 8 8 17 17
Total Operating Expenses 295 301 600 624
Operating Income 93 105 220 232
Other Income (Expense) - net 0 (2) 1 0
Interest Expense 29 28 57 54
Income Before Income Taxes 64 75 164 178
Income Taxes 11 14 31 36
Net Income [4] $ 53 $ 61 $ 133 $ 142
[1] Net income equals comprehensive income.
[2] Net income approximates comprehensive income.
[3] Net income equals comprehensive income.
[4] Net income equals comprehensive income.