XML 128 R65.htm IDEA: XBRL DOCUMENT v3.22.4
Income and Other Taxes (Income Tax Expense and Reconciliation of Income Tax Expense) (Details) - USD ($)
$ in Millions
3 Months Ended 12 Months Ended
Sep. 30, 2022
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Income Tax Expense (Benefit)        
Current - Federal   $ (2) $ (1) $ (8)
Current - State   24 36 24
Current - Foreign   0 (1) (2)
Total Current Expense   22 34 14
Deferred - Federal   122 28 135
Deferred - State   68 105 94
Deferred - Foreign   0 383 101
Total Deferred Expense (Benefit), excluding operating loss carry forwards   190 516 330
Amortization of investment tax credit   (3) (3) (3)
Tax expense (benefit) of operating loss carryforwards [Abstract]        
Deferred - Federal   2 12 6
Deferred - State   (10) (56) (33)
Total Tax Expense (Benefit) of Operating Loss Carryforwards   (8) (44) (27)
Total income tax from continuing operations   201 503 314
Income tax expense [Abstract]        
Total income tax expense - Federal   119 36 130
Total income tax expense - State   82 85 85
Total income tax expense - Foreign   0 382 99
Total income tax from continuing operations   201 503 314
Income Tax Expense (Benefit) Excluded From Income Taxes [Abstract]        
Income tax related to other comprehensive income   11 150 (19)
Total income tax expense (benefits) excluded from income taxes from continuing operations   (31) 1,569 169
Reconciliation of Income Tax Expense        
Federal income tax on Income Before Income Taxes at statutory tax rate   192 109 200
Increase (decrease) due to:        
State income taxes, net of federal income tax benefit   68 23 48
Valuation allowance adjustments   9 48 24
Federal and state income tax return adjustments   (1) (3) (9)
Impact of the United Kingdom Finance Acts on deferred tax balances   0 383 101
Depreciation and other items not normalized   (8) (5) (5)
Amortization of excess deferred federal and state income taxes   (54) (54) (43)
Other   (10) (4) (9)
Total increase (decrease)   9 394 114
Total income tax from continuing operations   $ 201 $ 503 $ 314
Effective income tax rate   22.00% 96.50% 32.90%
Expense related to increased Pennsylvania net operating loss carryforwards expected to be unutilized   $ 5 $ 15 $ 24
Taxes, other than income        
State gross receipts   175 113 100
Domestic property and other   157 94 80
Total   332 207 180
Effective Income Tax Rate Reconciliation, Change in Enacted Tax Rate, U.K. Finance Act 2020, Amount       106
Deferred Tax Assets, Valuation Allowances   213 462  
Reclassification from AOCI due to sale of UK utility business   0 660 0
Nondeductible officers salary   5 6 7
Deferred Tax Benefit        
Taxes, other than income        
Effective Income Tax Rate Reconciliation, Change in Enacted State Tax Rate, Amount $ 5      
WPD [Member]        
Taxes, other than income        
Income tax related to Discontinued Operations   (42) 759 188
Foreign Tax Authority [Member]        
Income Tax Expense (Benefit)        
Deferred - Foreign       106
PPL Electric Utilities Corp [Member]        
Income Tax Expense (Benefit)        
Current - Federal   63 40 61
Current - State   20 35 23
Total Current Expense   83 75 84
Deferred - Federal   60 59 45
Deferred - State   31 20 38
Total Deferred Expense (Benefit), excluding operating loss carry forwards   91 79 83
Tax expense (benefit) of operating loss carryforwards [Abstract]        
Total income tax from continuing operations   174 154 167
Income tax expense [Abstract]        
Total income tax expense - Federal   123 99 106
Total income tax expense - State   51 55 61
Total income tax from continuing operations   174 154 167
Reconciliation of Income Tax Expense        
Federal income tax on Income Before Income Taxes at statutory tax rate   147 126 139
Increase (decrease) due to:        
State income taxes, net of federal income tax benefit   54 46 52
Federal and state income tax return adjustments   (1) 0 (4)
Depreciation and other items not normalized   (7) (5) (5)
Amortization of excess deferred federal and state income taxes   (12) (14) (16)
Other   2 1 1
Total increase (decrease)   27 28 28
Total income tax from continuing operations   $ 174 $ 154 $ 167
Effective income tax rate   24.90% 25.70% 25.20%
Taxes, other than income        
State gross receipts   $ 142 $ 113 $ 100
Domestic property and other   7 7 7
Total   149 120 107
Effective Income Tax Rate Reconciliation, Change in Enacted State Tax Rate, Amount   (9) 0 0
PPL Electric Utilities Corp [Member] | Deferred Tax Benefit        
Taxes, other than income        
Effective Income Tax Rate Reconciliation, Change in Enacted State Tax Rate, Amount $ 9 9    
Louisville Gas And Electric Co [Member]        
Income Tax Expense (Benefit)        
Current - Federal   60 41 53
Current - State   9 5 7
Total Current Expense   69 46 60
Deferred - Federal   (10) 1 (4)
Deferred - State   5 8 7
Total Deferred Expense (Benefit), excluding operating loss carry forwards   (5) 9 3
Amortization of investment tax credit   (1) (1) (1)
Tax expense (benefit) of operating loss carryforwards [Abstract]        
Total income tax from continuing operations   63 54 62
Income tax expense [Abstract]        
Total income tax expense - Federal   49 41 48
Total income tax expense - State   14 13 14
Total income tax from continuing operations   63 54 62
Reconciliation of Income Tax Expense        
Federal income tax on Income Before Income Taxes at statutory tax rate   70 64 64
Increase (decrease) due to:        
State income taxes, net of federal income tax benefit   13 12 12
Amortization of excess deferred federal and state income taxes   (18) (20) (11)
Other   (2) (2) (3)
Total increase (decrease)   (7) (10) (2)
Total income tax from continuing operations   $ 63 $ 54 $ 62
Effective income tax rate   18.80% 17.80% 20.30%
Taxes, other than income        
Domestic property and other   $ 48 $ 46 $ 40
Total   48 46 40
Deferred Tax Assets, Valuation Allowances   9 11  
Kentucky Utilities Co [Member]        
Income Tax Expense (Benefit)        
Current - Federal   63 58 40
Current - State   11 8 3
Total Current Expense   74 66 43
Deferred - Federal   (3) (4) 11
Deferred - State   7 7 11
Total Deferred Expense (Benefit), excluding operating loss carry forwards   4 3 22
Amortization of investment tax credit   (2) (2) (2)
Tax expense (benefit) of operating loss carryforwards [Abstract]        
Total income tax from continuing operations   76 67 63
Income tax expense [Abstract]        
Total income tax expense - Federal   58 52 49
Total income tax expense - State   18 15 14
Total income tax from continuing operations   76 67 63
Reconciliation of Income Tax Expense        
Federal income tax on Income Before Income Taxes at statutory tax rate   84 76 72
Increase (decrease) due to:        
State income taxes, net of federal income tax benefit   16 14 14
Amortization of investment tax credit   (2) (2) (2)
Amortization of excess deferred federal and state income taxes   (21) (20) (17)
Other   (1) (1) (4)
Total increase (decrease)   (8) (9) (9)
Total income tax from continuing operations   $ 76 $ 67 $ 63
Effective income tax rate   19.10% 18.40% 18.40%
Taxes, other than income        
Domestic property and other   $ 45 $ 41 $ 37
Total   45 41 $ 37
Deferred Tax Assets, Valuation Allowances   $ 3 $ 3