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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Cash Flows from Operating Activities    
Net income (loss) $ (1,821) $ 898
Income (loss) from discontinued operations (net of income taxes) available to PPL common shareowners - Basic and Diluted 1,488 (541)
Income from continuing operations (net of income taxes) (333) 357
Depreciation 536 505
Amortization 40 22
Deferred income taxes and investment tax credits 29 113
Impairment of solar panels 37 0
Loss on extinguishment of debt 322 0
Other (9) 22
Change in current assets and current liabilities    
Accounts payable (26) (81)
Unbilled revenues 53 61
Prepayments (62) (67)
Regulatory assets and liabilities, net 39 (47)
Taxes payable 192 (34)
Other 59 76
Other operating activities    
Defined benefit plans - funding (36) (56)
Other assets (70) 27
Other liabilities 24 (32)
Net cash provided by operating activities - continuing operations 795 866
Net cash provided by operating activities - discontinued operations 726 433
Net cash provided by operating activities 1,521 1,299
Cash Flows from Investing Activities    
Expenditures for property, plant and equipment (969) (1,158)
Proceeds from sale of discontinued operations, net of cash divested 10,560 0
Other investing activities (8) 9
Net cash provided by (used in) investing activities - continuing operations 9,583 (1,149)
Net cash provided by (used in) investing activities - discontinued operations (607) (424)
Net cash provided by (used in) investing activities 8,976 (1,573)
Cash Flows from Financing Activities    
Issuance of long-term debt 650 1,598
Retirement of long-term debt (2,379) 0
Proceeds from project financing 5 96
Issuance of common stock 0 33
Payment of common stock dividends (640) (636)
Issuance of term loan 0 300
Retirement of term loan (300) 0
Retirement of commercial paper (73) 0
Net increase (decrease) in short-term debt (795) (638)
Other financing activities (24) (23)
Net cash provided by (used in) financing activities - continuing operations (3,556) 730
Net cash provided by (used in) financing activities - discontinued operations (411) (23)
Contributions (to) from discontinued operations 365 38
Net cash provided by (used in) financing activities (3,602) 745
Effect of Exchange Rates on Cash, Cash Equivalents and Restricted Cash included in Discontinued Operations 8 (6)
Net (Increase) Decrease in Cash, Cash Equivalents and Restricted Cash included in Discontinued Operations 284 20
Net Increase (Decrease) in Cash, Cash Equivalents and Restricted Cash 7,187 485
Cash and Cash Equivalents at Beginning of Period 442  
Cash, Cash Equivalents and Restricted Cash at Beginning of Period 443 660
Cash and Cash Equivalents at End of Period 7,629  
Cash, Cash Equivalents and Restricted Cash at End of Period 7,630 1,145
Supplemental Disclosures of Cash Flow Information    
Accrued expenditures for property, plant and equipment at June 30, 222 250
PPL Electric Utilities Corp [Member]    
Cash Flows from Operating Activities    
Net income (loss) [1] 209 236
Depreciation 217 199
Amortization 10 13
Defined benefit plans - (income) expense (5) 0
Deferred income taxes and investment tax credits 74 61
Other (9) 4
Change in current assets and current liabilities    
Accounts receivable (74) (19)
Accounts payable (62) (37)
Unbilled revenues 35 44
Fuel, materials and supplies 3 (15)
Prepayments (56) (59)
Regulatory assets and liabilities, net 61 (32)
Taxes payable (9) (11)
Other (1) (10)
Other operating activities    
Defined benefit plans - funding (21) (21)
Other assets (10) 5
Other liabilities (8) 2
Net cash provided by operating activities 354 360
Cash Flows from Investing Activities    
Expenditures for property, plant and equipment (458) (556)
Net (increase) decrease in notes receivable from affiliate (1,075) 0
Other investing activities 0 (2)
Net cash provided by (used in) investing activities (1,533) (558)
Cash Flows from Financing Activities    
Issuance of long-term debt 650 0
Payment of common stock dividends to parent (201) (246)
Net increase (decrease) in short-term debt 0 200
Contributions from parent 750 255
Return of capital to parent 0 (260)
Other financing activities (2) 0
Net cash provided by (used in) financing activities 1,197 (51)
Net Increase (Decrease) in Cash, Cash Equivalents and Restricted Cash 18 (249)
Cash and Cash Equivalents at Beginning of Period 40  
Cash, Cash Equivalents and Restricted Cash at Beginning of Period 40 264
Cash and Cash Equivalents at End of Period 58  
Cash, Cash Equivalents and Restricted Cash at End of Period 58 15
Supplemental Disclosures of Cash Flow Information    
Accrued expenditures for property, plant and equipment at June 30, 138 158
Louisville Gas And Electric Co [Member]    
Cash Flows from Operating Activities    
Net income (loss) [2] 120 120
Depreciation 134 129
Amortization 4 4
Defined benefit plans - (income) expense 0 1
Deferred income taxes and investment tax credits 5 2
Change in current assets and current liabilities    
Accounts receivable 10 18
Accounts receivable from affiliates 0 2
Accounts payable 8 (25)
Increase (Decrease) in Accounts Payable, Related Parties (11) (9)
Unbilled revenues 13 8
Fuel, materials and supplies 25 20
Regulatory assets and liabilities, net (12) 4
Taxes payable (7) 21
Accrued interest 1 0
Other (17) (9)
Other operating activities    
Defined benefit plans - funding (2) (5)
Expenditures for asset retirement obligations (15) (8)
Other assets (1) (2)
Other liabilities 3 4
Net cash provided by operating activities 258 275
Cash Flows from Investing Activities    
Expenditures for property, plant and equipment (215) (214)
Net cash provided by (used in) investing activities (215) (214)
Cash Flows from Financing Activities    
Increase Decrease In Notes Payable To Affiliates 282 190
Retirement of commercial paper (41) 0
Payment of common stock dividends to parent (109) (76)
Net increase (decrease) in short-term debt (221) (238)
Contributions from parent 44 53
Other financing activities (1) 0
Net cash provided by (used in) financing activities (46) (71)
Cash and Cash Equivalents, Period Increase (Decrease) (3) (10)
Cash and Cash Equivalents at Beginning of Period 7 15
Cash and Cash Equivalents at End of Period 4 5
Supplemental Disclosures of Cash Flow Information    
Accrued expenditures for property, plant and equipment at June 30, 44 49
Kentucky Utilities Co [Member]    
Cash Flows from Operating Activities    
Net income (loss) [3] 142 133
Depreciation 179 170
Amortization 3 4
Defined benefit plans - (income) expense (2) 0
Deferred income taxes and investment tax credits 0 5
Other (1) (1)
Change in current assets and current liabilities    
Accounts receivable 5 15
Accounts receivable from affiliates 1 0
Accounts payable (15) (7)
Increase (Decrease) in Accounts Payable, Related Parties (5) (15)
Unbilled revenues 8 7
Fuel, materials and supplies 13 4
Regulatory assets and liabilities, net (11) (19)
Taxes payable (7) 24
Accrued interest 0 1
Other (19) (12)
Other operating activities    
Defined benefit plans - funding (1) (1)
Expenditures for asset retirement obligations (18) (23)
Other liabilities 8 8
Net cash provided by operating activities 280 293
Cash Flows from Investing Activities    
Expenditures for property, plant and equipment (270) (264)
Net (increase) decrease in notes receivable from affiliate 0 (190)
Other investing activities 4 3
Net cash provided by (used in) investing activities (266) (451)
Cash Flows from Financing Activities    
Issuance of long-term debt 0 498
Increase Decrease In Notes Payable To Affiliates 226 0
Retirement of commercial paper (32) 0
Payment of common stock dividends to parent (111) (89)
Net increase (decrease) in short-term debt (171) (150)
Contributions from parent 60 37
Other financing activities (1) (5)
Net cash provided by (used in) financing activities (29) 291
Cash and Cash Equivalents, Period Increase (Decrease) (15) 133
Cash and Cash Equivalents at Beginning of Period 22 12
Cash and Cash Equivalents at End of Period 7 145
Supplemental Disclosures of Cash Flow Information    
Accrued expenditures for property, plant and equipment at June 30, $ 40 $ 41
[1] Net income equals comprehensive income.
[2] Net income equals comprehensive income.
[3] Net income equals comprehensive income.