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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Cash Flows from Operating Activities    
Net Income $ 898 $ 907
Depreciation 636 584
Amortization 29 31
Defined benefit plans - (income) expense (105) (135)
Deferred income taxes and investment tax credits 169 154
Unrealized (gains) losses on derivatives, and other hedging activities 25 22
Stock-based compensation expense 12 19
Other 2 (7)
Change in current assets and current liabilities    
Accounts receivable 10 22
Accounts payable (98) (102)
Unbilled revenues 107 70
Fuel, materials and supplies 6 19
Prepayments (75) (79)
Regulatory assets and liabilities, net (47) (72)
Accrued interest (55) (63)
Other current liabilities (37) (85)
Other (7) 11
Other operating activities    
Defined benefit plans - funding (193) (207)
Other assets 27 11
Other liabilities (5) (30)
Net cash provided by operating activities 1,299 1,070
Cash Flows from Investing Activities    
Expenditures for property, plant and equipment (1,576) (1,474)
Purchase of investments 0 (55)
Proceeds from the sale of investments 9 61
Other investing activities (6) (11)
Net cash used in investing activities (1,573) (1,479)
Cash Flows from Financing Activities    
Issuance of long-term debt 1,598 769
Retirement of long-term debt 0 (200)
Proceeds from project financing 96 0
Issuance of common stock 33 35
Payment of common stock dividends (636) (594)
Issuance of term loan 300 0
Net increase (decrease) in short-term debt (619) 206
Other financing activities (27) (18)
Net cash provided by (used in) financing activities 745 198
Effect of Exchange Rates on Cash, Cash Equivalents and Restricted Cash (6) (4)
Net Increase (Decrease) in Cash, Cash Equivalents and Restricted Cash 465 (215)
Cash and Cash Equivalents at Beginning of Period 815  
Cash, Cash Equivalents and Restricted Cash at Beginning of Period 836 643
Cash and Cash Equivalents at End of Period 1,278  
Cash, Cash Equivalents and Restricted Cash at End of Period 1,301 428
Supplemental Disclosures of Cash Flow Information    
Accrued expenditures for property, plant and equipment at June 30, 291 278
Accrued expenditures for intangible assets at June 30, 81 59
PPL Electric Utilities Corp [Member]    
Cash Flows from Operating Activities    
Net Income [1] 236 215
Depreciation 199 191
Amortization 13 11
Deferred income taxes and investment tax credits 61 36
Other 4 (9)
Change in current assets and current liabilities    
Accounts receivable (19) 7
Accounts payable (37) (39)
Unbilled revenues 44 31
Fuel, materials and supplies (15) (1)
Prepayments (59) (64)
Regulatory assets and liabilities, net (32) (40)
Taxes payable (11) (4)
Other (10) (6)
Other operating activities    
Defined benefit plans - funding (21) (21)
Other assets 5 4
Other liabilities 2 3
Net cash provided by operating activities 360 314
Cash Flows from Investing Activities    
Expenditures for property, plant and equipment (556) (533)
Other investing activities (2) 3
Net cash used in investing activities (558) (530)
Cash Flows from Financing Activities    
Payment of common stock dividends to parent (246) (215)
Net increase (decrease) in short-term debt 200 185
Contributions from parent 255 0
Return of capital to parent (260) 0
Other financing activities 0 (1)
Net cash provided by (used in) financing activities (51) (31)
Net Increase (Decrease) in Cash, Cash Equivalents and Restricted Cash (249) (247)
Cash and Cash Equivalents at Beginning of Period 262  
Cash, Cash Equivalents and Restricted Cash at Beginning of Period 264 269
Cash and Cash Equivalents at End of Period 13  
Cash, Cash Equivalents and Restricted Cash at End of Period 15 22
Supplemental Disclosures of Cash Flow Information    
Accrued expenditures for property, plant and equipment at June 30, 158 158
LG And E And KU Energy LLC [Member]    
Cash Flows from Operating Activities    
Net Income [2] 218 230
Depreciation 300 258
Amortization 10 16
Defined benefit plans - (income) expense 7 5
Deferred income taxes and investment tax credits 38 47
Other (1) (1)
Change in current assets and current liabilities    
Accounts receivable 33 24
Accounts payable (36) (34)
Accounts payable to affiliates (2) 0
Unbilled revenues 15 13
Fuel, materials and supplies 24 21
Regulatory assets and liabilities, net (15) (32)
Taxes payable 16 (25)
Accrued interest 1 7
Other (30) (23)
Other operating activities    
Defined benefit plans - funding (24) (28)
Expenditures for asset retirement obligations (31) (45)
Other assets (2) (1)
Other liabilities 13 13
Net cash provided by operating activities 534 445
Cash Flows from Investing Activities    
Expenditures for property, plant and equipment (479) (530)
Other investing activities 3 0
Net cash used in investing activities (476) (530)
Cash Flows from Financing Activities    
Issuance of long-term debt 498 705
Retirement of long-term debt 0 (200)
Net increase in notes payable with affiliate 102 90
Distributions to member (140) (137)
Contributions from member 0 63
Net increase (decrease) in short-term debt (388) (418)
Other financing activities (5) (10)
Net cash provided by (used in) financing activities 67 93
Cash and Cash Equivalents, Period Increase (Decrease) 125 8
Cash and Cash Equivalents at Beginning of Period 27 24
Cash and Cash Equivalents at End of Period 152 32
Supplemental Disclosures of Cash Flow Information    
Accrued expenditures for property, plant and equipment at June 30, 90 91
Louisville Gas And Electric Co [Member]    
Cash Flows from Operating Activities    
Net Income [3] 120 108
Depreciation 129 107
Amortization 4 11
Defined benefit plans - (income) expense 1 1
Deferred income taxes and investment tax credits 2 28
Change in current assets and current liabilities    
Accounts receivable 18 15
Accounts receivable from affiliates 2 6
Accounts payable (25) (16)
Accounts payable to affiliates (9) (4)
Unbilled revenues 8 9
Fuel, materials and supplies 20 27
Regulatory assets and liabilities, net 4 (13)
Taxes payable 21 (7)
Accrued interest 0 4
Other (9) (8)
Other operating activities    
Defined benefit plans - funding (5) (4)
Expenditures for asset retirement obligations (8) (12)
Other assets (2) (1)
Other liabilities 4 7
Net cash provided by operating activities 275 258
Cash Flows from Investing Activities    
Expenditures for property, plant and equipment (214) (224)
Net cash used in investing activities (214) (224)
Cash Flows from Financing Activities    
Issuance of long-term debt 0 399
Retirement of long-term debt 0 (200)
Net increase in notes payable with affiliate 190 0
Payment of common stock dividends to parent (76) (71)
Net increase (decrease) in short-term debt (238) (183)
Contributions from parent 53 25
Other financing activities 0 (5)
Net cash provided by (used in) financing activities (71) (35)
Cash and Cash Equivalents, Period Increase (Decrease) (10) (1)
Cash and Cash Equivalents at Beginning of Period 15 10
Cash and Cash Equivalents at End of Period 5 9
Supplemental Disclosures of Cash Flow Information    
Accrued expenditures for property, plant and equipment at June 30, 49 40
Kentucky Utilities Co [Member]    
Cash Flows from Operating Activities    
Net Income [4] 133 142
Depreciation 170 150
Amortization 4 5
Deferred income taxes and investment tax credits 5 29
Other (1) (2)
Change in current assets and current liabilities    
Accounts receivable 15 14
Accounts payable (7) (8)
Accounts payable to affiliates (15) (15)
Unbilled revenues 7 4
Fuel, materials and supplies 4 (6)
Regulatory assets and liabilities, net (19) (19)
Taxes payable 24 (2)
Accrued interest 1 3
Other (12) 1
Other operating activities    
Defined benefit plans - funding (1) (2)
Expenditures for asset retirement obligations (23) (33)
Other assets 0 1
Other liabilities 8 8
Net cash provided by operating activities 293 270
Cash Flows from Investing Activities    
Expenditures for property, plant and equipment (264) (305)
Net (increase) decrease in notes receivable from affiliate 190 0
Other investing activities 3 0
Net cash used in investing activities (451) (305)
Cash Flows from Financing Activities    
Issuance of long-term debt 498 306
Payment of common stock dividends to parent (89) (91)
Net increase (decrease) in short-term debt (150) (235)
Contributions from parent 37 68
Other financing activities (5) (4)
Net cash provided by (used in) financing activities 291 44
Cash and Cash Equivalents, Period Increase (Decrease) 133 9
Cash and Cash Equivalents at Beginning of Period 12 14
Cash and Cash Equivalents at End of Period 145 23
Supplemental Disclosures of Cash Flow Information    
Accrued expenditures for property, plant and equipment at June 30, $ 41 $ 52
[1] Net income equals comprehensive income.
[2] Net income approximates comprehensive income.
[3] Net income equals comprehensive income.
[4] Net income equals comprehensive income.