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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Cash Flows from Operating Activities    
Net income (loss) $ (1,614) $ 1,179
Income (loss) from discontinued operations (net of income taxes) available to PPL common shareowners - Basic and Diluted 1,490 (705)
Income from continuing operations (net of income taxes) (124) 474
Depreciation 810 762
Amortization 30 40
Deferred income taxes and investment tax credits 51 164
Impairment of solar panels 37 0
Loss on extinguishment of debt 395 0
Other 7 33
Change in current assets and current liabilities    
Accounts payable (32) (33)
Unbilled revenues 67 93
Prepayments (33) (43)
Regulatory assets and liabilities, net 50 (44)
Taxes payable 75 94
Other 46 147
Other operating activities    
Defined benefit plans - funding (41) (61)
Other assets (105) (7)
Other liabilities 19 (40)
Net cash provided by operating activities - continuing operations 1,252 1,579
Net cash provided by operating activities - discontinued operations 726 668
Net cash provided by operating activities 1,978 2,247
Cash Flows from Investing Activities    
Expenditures for property, plant and equipment (1,460) (1,690)
Proceeds from sale of discontinued operations, net of cash divested 10,560 0
Other investing activities (22) 0
Net cash provided by (used in) investing activities - continuing operations 9,078 (1,690)
Net cash provided by (used in) investing activities - discontinued operations (607) (668)
Net cash provided by (used in) investing activities 8,471 (2,358)
Cash Flows from Financing Activities    
Issuance of long-term debt 650 1,598
Retirement of long-term debt (4,606) (975)
Proceeds from project financing 21 152
Issuance of common stock 5 32
Payment of common stock dividends (961) (956)
Purchase of treasury stock (282) 0
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) (213)
Other financing activities (29) (21)
Net cash provided by (used in) financing activities - continuing operations (6,370) (83)
Net cash provided by (used in) financing activities - discontinued operations (411) 78
Contributions (to) from discontinued operations 365 38
Net cash provided by (used in) financing activities (6,416) 33
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 (72)
Net Increase (Decrease) in Cash, Cash Equivalents and Restricted Cash 4,325 (156)
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 4,767  
Cash, Cash Equivalents and Restricted Cash at End of Period 4,768 504
Supplemental Disclosures of Cash Flow Information    
Accrued expenditures for property, plant and equipment at September 30, 214 228
PPL Electric Utilities Corp [Member]    
Cash Flows from Operating Activities    
Net income (loss) [1] 335 370
Depreciation 322 301
Amortization 14 21
Defined benefit plans - (income) expense (7) (1)
Deferred income taxes and investment tax credits 75 68
Other (15) 0
Change in current assets and current liabilities    
Accounts receivable (24) (35)
Accounts payable (39) (7)
Unbilled revenues 37 54
Fuel, materials and supplies 3 (23)
Prepayments (32) (30)
Regulatory assets and liabilities, net 81 (31)
Other 5 1
Other operating activities    
Defined benefit plans - funding (21) (21)
Other assets (18) (20)
Other liabilities (12) 9
Net cash provided by operating activities 704 656
Cash Flows from Investing Activities    
Expenditures for property, plant and equipment (680) (840)
Net (increase) decrease in notes receivable from affiliate (575) 0
Other investing activities (1) (4)
Net cash provided by (used in) investing activities (1,256) (844)
Cash Flows from Financing Activities    
Issuance of long-term debt 650 0
Retirement of long-term debt (400) 0
Payment of common stock dividends to parent (251) (323)
Net increase (decrease) in short-term debt 0 280
Contributions from parent 1,075 740
Return of capital to parent (500) (745)
Other financing activities (3) 0
Net cash provided by (used in) financing activities 571 (48)
Net Increase (Decrease) in Cash, Cash Equivalents and Restricted Cash 19 (236)
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 59  
Cash, Cash Equivalents and Restricted Cash at End of Period 59 28
Supplemental Disclosures of Cash Flow Information    
Accrued expenditures for property, plant and equipment at September 30, 131 150
Louisville Gas And Electric Co [Member]    
Cash Flows from Operating Activities    
Net income (loss) [2] 202 191
Depreciation 206 193
Amortization 1 6
Defined benefit plans - (income) expense 0 2
Deferred income taxes and investment tax credits 4 1
Change in current assets and current liabilities    
Accounts receivable 4 6
Accounts receivable from affiliates (2) 7
Accounts payable 19 (23)
Increase (Decrease) in Accounts Payable, Related Parties (13) (8)
Unbilled revenues 19 22
Fuel, materials and supplies (7) 9
Regulatory assets and liabilities, net (14) 5
Taxes payable 5 (1)
Accrued interest 17 18
Other (8) (13)
Other operating activities    
Defined benefit plans - funding (3) (6)
Expenditures for asset retirement obligations (19) (12)
Other assets (3) (1)
Other liabilities 4 23
Net cash provided by operating activities 412 419
Cash Flows from Investing Activities    
Expenditures for property, plant and equipment (339) (329)
Net cash provided by (used in) investing activities (339) (329)
Cash Flows from Financing Activities    
Increase Decrease In Notes Payable To Affiliates 284 0
Retirement of commercial paper (41) 0
Payment of common stock dividends to parent (139) (115)
Net increase (decrease) in short-term debt (221) (32)
Contributions from parent 44 53
Other financing activities (2) (1)
Net cash provided by (used in) financing activities (75) (95)
Cash and Cash Equivalents, Period Increase (Decrease) (2) (5)
Cash and Cash Equivalents at Beginning of Period 7 15
Cash and Cash Equivalents at End of Period 5 10
Supplemental Disclosures of Cash Flow Information    
Accrued expenditures for property, plant and equipment at September 30, 40 43
Kentucky Utilities Co [Member]    
Cash Flows from Operating Activities    
Net income (loss) [3] 241 217
Depreciation 273 258
Amortization 5 6
Defined benefit plans - (income) expense (2) 0
Deferred income taxes and investment tax credits 0 20
Other (1) (1)
Change in current assets and current liabilities    
Accounts receivable (6) (22)
Accounts receivable from affiliates 1 0
Accounts payable (4) 7
Increase (Decrease) in Accounts Payable, Related Parties (4) (18)
Unbilled revenues 17 15
Fuel, materials and supplies 4 12
Regulatory assets and liabilities, net (16) (20)
Taxes payable 9 1
Accrued interest 25 23
Other (17) (15)
Other operating activities    
Defined benefit plans - funding (1) (1)
Expenditures for asset retirement obligations (27) (47)
Other assets 2 0
Other liabilities 5 11
Net cash provided by operating activities 504 446
Cash Flows from Investing Activities    
Expenditures for property, plant and equipment (400) (381)
Other investing activities 4 3
Net cash provided by (used in) investing activities (396) (378)
Cash Flows from Financing Activities    
Issuance of long-term debt 0 498
Retirement of long-term debt 0 (500)
Increase Decrease In Notes Payable To Affiliates 208 0
Retirement of commercial paper (32) 0
Payment of common stock dividends to parent (186) (145)
Net increase (decrease) in short-term debt (171) (11)
Contributions from parent 60 98
Other financing activities (1) (5)
Net cash provided by (used in) financing activities (122) (65)
Cash and Cash Equivalents, Period Increase (Decrease) (14) 3
Cash and Cash Equivalents at Beginning of Period 22 12
Cash and Cash Equivalents at End of Period 8 15
Supplemental Disclosures of Cash Flow Information    
Accrued expenditures for property, plant and equipment at September 30, $ 43 $ 35
[1] Net income equals comprehensive income.
[2] Net income equals comprehensive income.
[3] Net income equals comprehensive income.