Income Taxes (Tables)

6 Months Ended

Jun. 30, 2023

Income Taxes [Line Items]

Schedule of Effective Income Tax Rate Reconciliation

Reconciliations of income tax expense (benefit) for the periods ended June 30 are as follows.

(PPL)
	Three Months				Six Months
	2023		2022		2023		2022
Federal income tax on Income Before Income Taxes at statutory tax rate - 21%	$	30	$	32	$	107	$	104
Increase (decrease) due to:
State income taxes, net of federal income tax benefit	11		27		33		48
Valuation allowance adjustments	5		7		7		10
Amortization of investment tax credit including deferred taxes on basis adjustment	—		(4)		(1)		(7)
Depreciation and other items not normalized	(2)		(5)		(7)		(8)
Amortization of excess deferred federal and state income taxes	(8)		(22)		(20)		(40)
Other	(3)		(3)		(7)		(1)
Total increase (decrease)	3		—		5		2
Total income tax expense (benefit)	$	33	$	32	$	112	$	106

PPL Electric Utilities Corp [Member]

Income Taxes [Line Items]

Schedule of Effective Income Tax Rate Reconciliation

Reconciliations of income tax expense (benefit) for the periods ended June 30 are as follows.

(PPL Electric)
	Three Months				Six Months
	2023		2022		2023		2022
Federal income tax on Income Before Income Taxes at statutory tax rate - 21%	$	31	$	35	$	70	$	76
Increase (decrease) due to:
State income taxes, net of federal income tax benefit	11		13		24		28
Depreciation and other items not normalized	(3)		(3)		(7)		(6)
Amortization of excess deferred federal and state income taxes	(2)		(2)		(4)		(5)
Other	1		1		—		1
Total increase (decrease)	7		9		13		18
Total income tax expense (benefit)	$	38	$	44	$	83	$	94

Louisville Gas And Electric Co [Member]

Income Taxes [Line Items]

Schedule of Effective Income Tax Rate Reconciliation

Reconciliations of income tax expense (benefit) for the periods ended June 30 are as follows.

(LG&E)
	Three Months				Six Months
	2023		2022		2023		2022
Federal income tax on Income Before Income Taxes at statutory tax rate - 21%	$	12	$	13	$	35	$	37
Increase (decrease) due to:
State income taxes, net of federal income tax benefit	2		2		6		7
Amortization of excess deferred federal and state income taxes	(3)		(7)		(6)		(14)
Other	—		1		(1)		(2)
Total increase (decrease)	(1)		(4)		(1)		(9)
Total income tax expense (benefit)	$	11	$	9	$	34	$	28

Kentucky Utilities Co [Member]

Income Taxes [Line Items]

Schedule of Effective Income Tax Rate Reconciliation

Reconciliations of income tax expense (benefit) for the periods ended June 30 are as follows.

(KU)
	Three Months				Six Months
	2023		2022		2023		2022
Federal income tax on Income Before Income Taxes at statutory tax rate - 21%	$	13	$	17	$	36	$	45
Increase (decrease) due to:
State income taxes, net of federal income tax benefit	3		3		7		8
Amortization of excess deferred federal and state income taxes	(4)		(6)		(8)		(12)
Other	1		1		—		(2)
Total increase (decrease)	—		(2)		(1)		(6)
Total income tax expense (benefit)	$	13	$	15	$	35	$	39