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Acquisitions, Development and Divestitures (Tables)
 12 Months Ended
Dec. 31, 2022
Acquisitions, Development and Divestitures [Line Items]  
Disposal Group, Including Discontinued Operation, Income Statement Line Items Following are the components of discontinued operations in the Statements of Income for the years ended December 31:
202220212020
Operating Revenues$— $1,344 $2,133 
Operating Expenses— 467 916 
Other Income (Expense) - net— 202 167 
Interest Expense (a)— 209 367 
Income before income taxes— 870 1,017 
Loss on sale— (1,609)— 
Income tax (benefit) expense(42)759 188 
Income (Loss) from Discontinued Operations (net of income taxes)$42 $(1,498)$829 

(a)No interest from corporate level debt was allocated to discontinued operations.
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed The table below shows the preliminary allocation of the purchase price to the assets acquired and liabilities assumed that were recorded in PPL’s Consolidated Balance Sheet as of the Acquisition date.
Purchase Price Allocation as of December 31, 2022
Assets
Current Assets
Cash and Cash Equivalents$154 
Accounts Receivable (a)195 
Unbilled Revenues54 
Price Risk Management Assets99 
Regulatory Assets75 
Other Current Assets65 
Total Current Assets642 
Purchase Price Allocation as of December 31, 2022
Noncurrent Assets
Property, Plant and Equipment, net3,988 
Regulatory Assets395 
Goodwill1,586 
Other Noncurrent Assets166 
Total Noncurrent Assets6,135 
Total Assets$6,777 
Liabilities
Current Liabilities
Long-Term Debt Due Within One Year$14 
Accounts Payable180 
Taxes Accrued44 
Regulatory Liabilities239 
Other Current Liabilities198 
Total Current Liabilities675 
Noncurrent Liabilities
Long-Term Debt1,496 
Regulatory Liabilities643 
Other Deferred Credits and Noncurrent Liabilities143 
Noncurrent Liabilities2,282 
Total Purchase Price (Balance Sheet Net Assets)$3,820 

(a)Amounts represent fair value as of May 25, 2022. The gross contractual amount is $255 million. Cash flows not expected to be collected as of May 25, 2022 were $60 million.
Business Acquisition, Pro Forma Information
The actual RIE Operating Revenues and Net income attributable to PPL included in PPL's Statement of Income for the period ended December 31, 2022, and PPL's unaudited pro forma 2022 and 2021 Operating Revenues and Net Income (Loss) attributable to PPL, including RIE, as if the Acquisition had occurred on January 1, 2021 are as follows.
Operating RevenuesNet Income (Loss)
Actual RIE results included from May 25, 2022 - December 31, 2022 (a)$1,038 $(44)
PPL Pro Forma for the year ended 2022
8,667 790 
PPL Pro Forma for the year ended 2021
7,478 159 

(a)Net Income (Loss) includes expenses of $98 million (pre-tax) related to commitments made as a condition of the Acquisition.