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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash Flows from Operating Activities    
Net income (loss) $ 273 $ (1,840)
Loss from discontinued operations (net of income taxes) 0 2,043
Income from continuing operations (net of income taxes) 273 203
Depreciation 271 267
Amortization 7 11
Deferred income taxes and investment tax credits 39 50
Stock-based compensation expense 11 6
Other (4) (1)
Change in current assets and current liabilities    
Accounts receivable (38) (60)
Accounts payable 4 (42)
Unbilled revenues 28 76
Fuel, materials and supplies 42 41
Prepayments (75) (76)
Taxes payable (4) (25)
Regulatory assets and liabilities, net (41) 29
Accrued interest 57 69
Other (53) (76)
Other operating activities    
Defined benefit plans - funding (3) (33)
Other assets (18) (74)
Other liabilities 6 31
Net cash provided by operating activities - continuing operations 502 396
Net cash provided by operating activities - discontinued operations 0 267
Net cash provided by operating activities 502 663
Cash Flows from Investing Activities    
Expenditures for property, plant and equipment (427) (471)
Other investing activities 0 (1)
Net cash provided by (used in) investing activities - continuing operations (427) (472)
Net cash provided by (used in) investing activities - discontinued operations 0 (263)
Net cash provided by (used in) investing activities (427) (735)
Cash Flows from Financing Activities    
Payment of common stock dividends (306) (320)
Retirement of term loan 0 (300)
Retirement of commercial paper 0 (73)
Net increase (decrease) in short-term debt 916 752
Other financing activities (7) (4)
Net cash provided by (used in) financing activities - continuing operations 603 55
Net cash provided by (used in) financing activities - discontinued operations 0 (126)
Net cash provided by (used in) financing activities 603 (71)
Effect of Exchange Rates on Cash, Cash Equivalents and Restricted Cash included in Discontinued Operations 0 8
Net (Increase) Decrease in Cash, Cash Equivalents and Restricted Cash included in Discontinued Operations 0 114
Net Increase (Decrease) in Cash, Cash Equivalents and Restricted Cash 678 (21)
Cash and Cash Equivalents at Beginning of Period 3,571  
Cash, Cash Equivalents and Restricted Cash at Beginning of Period 3,572 443
Cash and Cash Equivalents at End of Period 4,249  
Cash, Cash Equivalents and Restricted Cash at End of Period 4,250 422
Supplemental Disclosures of Cash Flow Information    
Accrued expenditures for property, plant and equipment at March 31, 236 229
PPL Electric Utilities Corp [Member]    
Cash Flows from Operating Activities    
Net income (loss) [1] 143 113
Depreciation 98 108
Amortization 3 6
Defined benefit plans - (income) expense (6) (3)
Deferred income taxes and investment tax credits 41 13
Other (4) (4)
Change in current assets and current liabilities    
Accounts receivable (52) (37)
Accounts payable 20 (9)
Unbilled revenues 14 37
Prepayments (72) (78)
Taxes payable (15) (7)
Regulatory assets and liabilities, net (43) 39
Other 2 (7)
Other operating activities    
Defined benefit plans - funding 0 (21)
Other assets (2) (27)
Other liabilities (5) (2)
Net cash provided by operating activities 122 121
Cash Flows from Investing Activities    
Expenditures for property, plant and equipment (188) (223)
Net (increase) decrease in notes receivable from affiliate 203 0
Other investing activities 0 1
Net cash provided by (used in) investing activities 15 (222)
Cash Flows from Financing Activities    
Payment of common stock dividends to parent (72) (115)
Net increase (decrease) in short-term debt 0 205
Return of capital to parent (40) 0
Net cash provided by (used in) financing activities (112) 90
Net Increase (Decrease) in Cash, Cash Equivalents and Restricted Cash 25 (11)
Cash and Cash Equivalents at Beginning of Period 21  
Cash, Cash Equivalents and Restricted Cash at Beginning of Period 21 40
Cash and Cash Equivalents at End of Period 46  
Cash, Cash Equivalents and Restricted Cash at End of Period 46 29
Supplemental Disclosures of Cash Flow Information    
Accrued expenditures for property, plant and equipment at March 31, 153 143
Louisville Gas And Electric Co [Member]    
Cash Flows from Operating Activities    
Net income (loss) [2] 93 75
Depreciation 74 66
Amortization (1) 2
Defined benefit plans - (income) expense 0 1
Deferred income taxes and investment tax credits (4) (1)
Other 1 0
Change in current assets and current liabilities    
Accounts receivable 4 (1)
Accounts receivable from affiliates 2 (3)
Accounts payable (1) 8
Increase (Decrease) in Accounts Payable, Related Parties (10) (5)
Unbilled revenues 10 19
Fuel, materials and supplies 42 28
Taxes payable 0 4
Regulatory assets and liabilities, net 5 (10)
Accrued interest 17 18
Other (6) (17)
Other operating activities    
Defined benefit plans - funding 0 (1)
Expenditures for asset retirement obligations (6) (6)
Other assets (1) 0
Other liabilities (1) 4
Net cash provided by operating activities 218 181
Cash Flows from Investing Activities    
Expenditures for property, plant and equipment (99) (111)
Net (increase) decrease in notes receivable from affiliate (4) 0
Net cash provided by (used in) investing activities (103) (111)
Cash Flows from Financing Activities    
Increase Decrease In Notes Payable To Affiliates (324) 0
Retirement of commercial paper 0 (41)
Payment of common stock dividends to parent (75) (60)
Net increase (decrease) in short-term debt 284 31
Net cash provided by (used in) financing activities (115) (70)
Cash and Cash Equivalents, Period Increase (Decrease) 0 0
Cash and Cash Equivalents at Beginning of Period 9 7
Cash and Cash Equivalents at End of Period 9 7
Supplemental Disclosures of Cash Flow Information    
Accrued expenditures for property, plant and equipment at March 31, 30 46
Kentucky Utilities Co [Member]    
Cash Flows from Operating Activities    
Net income (loss) [3] 107 86
Depreciation 95 89
Amortization 4 2
Defined benefit plans - (income) expense (1) 0
Deferred income taxes and investment tax credits (3) (2)
Other 2 0
Change in current assets and current liabilities    
Accounts receivable (6) 2
Accounts receivable from affiliates 0 1
Accounts payable 0 (7)
Increase (Decrease) in Accounts Payable, Related Parties (12) 2
Unbilled revenues 4 20
Fuel, materials and supplies 3 15
Taxes payable 20 13
Regulatory assets and liabilities, net (3) 0
Accrued interest 26 25
Other (5) (17)
Other operating activities    
Expenditures for asset retirement obligations (6) (9)
Other assets (6) 0
Other liabilities 0 4
Net cash provided by operating activities 219 224
Cash Flows from Investing Activities    
Expenditures for property, plant and equipment (129) (127)
Net cash provided by (used in) investing activities (129) (127)
Cash Flows from Financing Activities    
Increase Decrease In Notes Payable To Affiliates (290) 0
Retirement of commercial paper 0 (32)
Payment of common stock dividends to parent (90) (56)
Net increase (decrease) in short-term debt 285 (23)
Net cash provided by (used in) financing activities (95) (111)
Cash and Cash Equivalents, Period Increase (Decrease) (5) (14)
Cash and Cash Equivalents at Beginning of Period 13 22
Cash and Cash Equivalents at End of Period 8 8
Supplemental Disclosures of Cash Flow Information    
Accrued expenditures for property, plant and equipment at March 31, $ 49 $ 40
[1] Net income equals comprehensive income.
[2] Net income equals comprehensive income.
[3] Net income equals comprehensive income.