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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash Flows from Operating Activities    
Net income (loss) $ 392 $ (1,821)
Loss from discontinued operations (net of income taxes) 0 1,488
Income from continuing operations (net of income taxes) 392 (333)
Depreciation 560 536
Amortization 15 40
Deferred income taxes and investment tax credits 56 29
Impairment of solar panels 0 37
Loss on extinguishment of debt 0 322
Stock-based compensation expense 18 17
Other 19 (26)
Change in current assets and current liabilities    
Accounts receivable (47) (10)
Accounts payable 166 (26)
Unbilled revenues 22 53
Fuel, materials and supplies 23 43
Prepayments (69) (62)
Taxes payable (41) 192
Counterparty collateral 62 0
Regulatory assets and liabilities, net (211) 39
Other 36 26
Other operating activities    
Defined benefit plans - funding (7) (36)
Other assets (74) (70)
Other liabilities 59 24
Net cash provided by operating activities - continuing operations 979 795
Net cash provided by operating activities - discontinued operations 0 726
Net cash provided by operating activities 979 1,521
Cash Flows from Investing Activities    
Expenditures for property, plant and equipment (1,009) (969)
Acquisition of Narragansett Electric, net of cash acquired (3,674) 0
Proceeds from sale of discontinued operations, net of cash divested 0 10,560
Other investing activities 0 (8)
Net cash provided by (used in) investing activities - continuing operations (4,683) 9,583
Net cash provided by (used in) investing activities - discontinued operations 0 (607)
Net cash provided by (used in) investing activities (4,683) 8,976
Cash Flows from Financing Activities    
Issuance of long-term debt 0 650
Retirement of long-term debt 0 (2,379)
Payment of common stock dividends (453) (640)
Retirement of term loan 0 (300)
Retirement of commercial paper 0 (73)
Net increase (decrease) in short-term debt 919 (795)
Other financing activities 3 (19)
Net cash provided by (used in) financing activities - continuing operations 469 (3,556)
Net cash provided by (used in) financing activities - discontinued operations 0 (411)
Contributions from discontinued operations 0 365
Net cash provided by (used in) financing activities 469 (3,602)
Effect of Exchange Rates on Cash, Cash Equivalents and Restricted Cash included in Discontinued Operations 0 8
Net Decrease in Cash, Cash Equivalents and Restricted Cash included in Discontinued Operations 0 284
Net Increase (Decrease) in Cash, Cash Equivalents and Restricted Cash (3,235) 7,187
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 336  
Cash, Cash Equivalents and Restricted Cash at End of Period 337 7,630
Supplemental Disclosures of Cash Flow Information    
Accrued expenditures for property, plant and equipment at June 30, 195 222
PPL Electric Utilities Corp [Member]    
Cash Flows from Operating Activities    
Net income (loss) [1] 267 209
Depreciation 197 217
Amortization 5 10
Defined benefit plans - (income) expense (11) (5)
Deferred income taxes and investment tax credits 67 74
Other (9) (9)
Change in current assets and current liabilities    
Accounts receivable (55) (74)
Accounts payable 18 (62)
Unbilled revenues 8 35
Fuel, materials and supplies (5) 3
Prepayments (52) (56)
Taxes payable (23) (9)
Counterparty collateral 62 0
Regulatory assets and liabilities, net (73) 61
Other (9) (1)
Other operating activities    
Defined benefit plans - funding 0 (21)
Other assets (25) (10)
Other liabilities (7) (8)
Net cash provided by operating activities 355 354
Cash Flows from Investing Activities    
Expenditures for property, plant and equipment (451) (458)
Notes receivable from affiliates 333 (1,075)
Other investing activities 1 0
Net cash provided by (used in) investing activities (117) (1,533)
Cash Flows from Financing Activities    
Issuance of long-term debt 0 650
Payment of common stock dividends to parent (165) (201)
Contributions from parent 0 750
Return of capital to parent (65) 0
Other financing activities 0 (2)
Net cash provided by (used in) financing activities (230) 1,197
Net Increase (Decrease) in Cash, Cash Equivalents and Restricted Cash 8 18
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 29  
Cash, Cash Equivalents and Restricted Cash at End of Period 29 58
Supplemental Disclosures of Cash Flow Information    
Accrued expenditures for property, plant and equipment at June 30, 114 138
Louisville Gas And Electric Co [Member]    
Cash Flows from Operating Activities    
Net income (loss) [2] 147 120
Depreciation 149 134
Amortization (3) 4
Defined benefit plans - (income) expense (1) 0
Deferred income taxes and investment tax credits (9) 5
Other 2 0
Change in current assets and current liabilities    
Accounts receivable 19 10
Accounts receivable from affiliates 1 0
Accounts payable 15 8
Increase (Decrease) in Accounts Payable, Related Parties (11) (11)
Unbilled revenues 8 13
Fuel, materials and supplies 35 25
Taxes payable (7) (7)
Regulatory assets and liabilities, net (16) (12)
Other 1 (16)
Other operating activities    
Defined benefit plans - funding (2) (2)
Expenditures for asset retirement obligations (8) (15)
Other assets (2) (1)
Other liabilities (1) 3
Net cash provided by operating activities 317 258
Cash Flows from Investing Activities    
Expenditures for property, plant and equipment (183) (215)
Net cash provided by (used in) investing activities (183) (215)
Cash Flows from Financing Activities    
Increase Decrease In Notes Payable To Affiliates (324) 282
Retirement of commercial paper 0 (41)
Payment of common stock dividends to parent (136) (109)
Net increase (decrease) in short-term debt 325 (221)
Contributions from parent 10 44
Other financing activities 0 (1)
Net cash provided by (used in) financing activities (125) (46)
Cash and Cash Equivalents, Period Increase (Decrease) 9 (3)
Cash and Cash Equivalents at Beginning of Period 9 7
Cash and Cash Equivalents at End of Period 18 4
Supplemental Disclosures of Cash Flow Information    
Accrued expenditures for property, plant and equipment at June 30, 33 44
Kentucky Utilities Co [Member]    
Cash Flows from Operating Activities    
Net income (loss) [3] 173 142
Depreciation 193 179
Amortization 8 3
Defined benefit plans - (income) expense (2) (2)
Deferred income taxes and investment tax credits (5) 0
Other 2 (1)
Change in current assets and current liabilities    
Accounts receivable 1 5
Accounts receivable from affiliates 0 1
Accounts payable 18 (15)
Increase (Decrease) in Accounts Payable, Related Parties (13) (5)
Unbilled revenues (4) 8
Fuel, materials and supplies (5) 13
Taxes payable 5 (7)
Regulatory assets and liabilities, net (21) (11)
Other (4) (19)
Other operating activities    
Defined benefit plans - funding (1) (1)
Expenditures for asset retirement obligations (14) (18)
Other assets 2 0
Other liabilities (1) 8
Net cash provided by operating activities 332 280
Cash Flows from Investing Activities    
Expenditures for property, plant and equipment (273) (270)
Other investing activities 0 4
Net cash provided by (used in) investing activities (273) (266)
Cash Flows from Financing Activities    
Increase Decrease In Notes Payable To Affiliates (294) 226
Retirement of commercial paper 0 (32)
Payment of common stock dividends to parent (159) (111)
Net increase (decrease) in short-term debt 338 (171)
Contributions from parent 60 60
Other financing activities 0 (1)
Net cash provided by (used in) financing activities (55) (29)
Cash and Cash Equivalents, Period Increase (Decrease) 4 (15)
Cash and Cash Equivalents at Beginning of Period 13 22
Cash and Cash Equivalents at End of Period 17 7
Supplemental Disclosures of Cash Flow Information    
Accrued expenditures for property, plant and equipment at June 30, $ 46 $ 40
[1] Net income equals comprehensive income.
[2] Net income equals comprehensive income.
[3] Net income equals comprehensive income.