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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash Flows from Operating Activities    
Net income (loss) $ 397 $ 392
Depreciation 626 560
Amortization 39 15
Defined benefit plans - (income) expense (36) (8)
Deferred income taxes and investment tax credits 107 56
Other 25 45
Change in current assets and current liabilities    
Accounts receivable (1) (47)
Accounts payable (209) 166
Unbilled revenues 233 22
Fuel, materials and supplies (30) 23
Prepayments (90) (69)
Taxes payable (31) (41)
Regulatory assets and liabilities, net (57) (211)
Accrued interest 44 1
Other (50) 97
Other operating activities    
Defined benefit plans - funding (7) (7)
Other assets (97) (74)
Other liabilities (21) 59
Net cash provided by operating activities 842 979
Cash Flows from Investing Activities    
Expenditures for property, plant and equipment (1,090) (1,009)
Acquisition of Narragansett Electric, net of cash acquired 0 (3,674)
Other investing activities (6) 0
Net cash used in investing activities (1,096) (4,683)
Cash Flows from Financing Activities    
Issuance of long-term debt 3,127 0
Retirement of long-term debt (1,763) 0
Payment of common stock dividends (348) (453)
Net increase (decrease) in short-term debt (742) 919
Other financing activities (50) 3
Net cash provided by financing activities 224 469
Net Increase (Decrease) in Cash, Cash Equivalents and Restricted Cash (30) (3,235)
Cash and Cash Equivalents at Beginning of Period 356  
Cash, Cash Equivalents and Restricted Cash at Beginning of Period 357 3,572
Cash and Cash Equivalents at End of Period 326  
Cash, Cash Equivalents and Restricted Cash at End of Period 327 337
Supplemental Disclosures of Cash Flow Information    
Accrued expenditures for property, plant and equipment at June 30, 231 195
PPL Electric Utilities Corp [Member]    
Cash Flows from Operating Activities    
Net income (loss) [1] 248 267
Depreciation 198 197
Amortization 18 5
Defined benefit plans - (income) expense (22) (11)
Deferred income taxes and investment tax credits 54 67
Other (9) (9)
Change in current assets and current liabilities    
Accounts receivable (136) (55)
Accounts payable (69) 18
Unbilled revenues 119 8
Fuel, materials and supplies (21) (5)
Prepayments (55) (52)
Taxes payable (36) (23)
Counterparty collateral 0 62
Regulatory assets and liabilities, net (39) (73)
Other 16 (9)
Other operating activities    
Defined benefit plans - funding (1) 0
Other assets (28) (25)
Other liabilities (1) (7)
Net cash provided by operating activities 236 355
Cash Flows from Investing Activities    
Expenditures for property, plant and equipment (395) (451)
Expenditures for intangible assets (3) 0
Notes receivable from affiliates 0 333
Other investing activities 0 1
Net cash used in investing activities (398) (117)
Cash Flows from Financing Activities    
Issuance of long-term debt 1,329 0
Retirement of long-term debt (1,150) 0
Payment of common stock dividends to parent (163) (165)
Net increase (decrease) in short-term debt (15) 0
Contributions from parent 200 0
Return of capital to parent (25) (65)
Debt Issuance Costs (13) 0
Net cash provided by financing activities 163 (230)
Net Increase (Decrease) in Cash, Cash Equivalents and Restricted Cash 1 8
Cash and Cash Equivalents at Beginning of Period 25  
Cash, Cash Equivalents and Restricted Cash at Beginning of Period 25 21
Cash and Cash Equivalents at End of Period 26  
Cash, Cash Equivalents and Restricted Cash at End of Period 26 29
Supplemental Disclosures of Cash Flow Information    
Accrued expenditures for property, plant and equipment at June 30, 124 114
Louisville Gas And Electric Co [Member]    
Cash Flows from Operating Activities    
Net income (loss) [2] 131 147
Depreciation 151 149
Amortization 6 (3)
Defined benefit plans - (income) expense 1 (1)
Deferred income taxes and investment tax credits (5) (9)
Other (3) 2
Change in current assets and current liabilities    
Accounts receivable 53 19
Accounts receivable from affiliates 19 1
Accounts payable (50) 15
Increase (Decrease) in Accounts Payable, Related Parties (6) (11)
Unbilled revenues 42 8
Fuel, materials and supplies 31 35
Taxes payable (16) (7)
Regulatory assets and liabilities, net 31 (16)
Accrued interest 6 0
Other (16) 1
Other operating activities    
Defined benefit plans - funding 0 (2)
Expenditures for asset retirement obligations (6) (8)
Other assets (15) (2)
Other liabilities 4 (1)
Net cash provided by operating activities 358 317
Cash Flows from Investing Activities    
Expenditures for property, plant and equipment (186) (183)
Notes receivable from affiliates (8) 0
Net cash used in investing activities (194) (183)
Cash Flows from Financing Activities    
Issuance of long-term debt 399 0
Retirement of long-term debt (300) 0
Increase Decrease In Notes Payable To Affiliates 0 (324)
Payment of common stock dividends to parent (87) (136)
Net increase (decrease) in short-term debt (158) 325
Contributions from parent 20 10
Return of capital to parent (120) 0
Other financing activities (4) 0
Net cash provided by financing activities (250) (125)
Net Increase (Decrease) in Cash, Cash Equivalents and Restricted Cash (86) 9
Cash and Cash Equivalents at Beginning of Period 93 9
Cash and Cash Equivalents at End of Period 7 18
Supplemental Disclosures of Cash Flow Information    
Accrued expenditures for property, plant and equipment at June 30, 39 33
Kentucky Utilities Co [Member]    
Cash Flows from Operating Activities    
Net income (loss) [3] 139 173
Depreciation 196 193
Amortization 9 8
Defined benefit plans - (income) expense (2) (2)
Deferred income taxes and investment tax credits (6) (5)
Other 7 2
Change in current assets and current liabilities    
Accounts receivable 24 1
Accounts payable (30) 18
Increase (Decrease) in Accounts Payable, Related Parties (22) (13)
Unbilled revenues 27 (4)
Fuel, materials and supplies (25) (5)
Taxes payable (3) 5
Regulatory assets and liabilities, net 18 (21)
Accrued interest 6 0
Other (7) (4)
Other operating activities    
Defined benefit plans - funding 0 (1)
Expenditures for asset retirement obligations (10) (14)
Other assets (20) 2
Other liabilities (3) (1)
Net cash provided by operating activities 298 332
Cash Flows from Investing Activities    
Expenditures for property, plant and equipment (299) (273)
Net cash used in investing activities (299) (273)
Cash Flows from Financing Activities    
Issuance of long-term debt 399 0
Retirement of long-term debt (313) 0
Increase Decrease In Notes Payable To Affiliates 8 (294)
Payment of common stock dividends to parent (92) (159)
Net increase (decrease) in short-term debt (9) 338
Contributions from parent 54 60
Return of capital to parent (54) 0
Other financing activities (4) 0
Net cash provided by financing activities (11) (55)
Net Increase (Decrease) in Cash, Cash Equivalents and Restricted Cash (12) 4
Cash and Cash Equivalents at Beginning of Period 21 13
Cash and Cash Equivalents at End of Period 9 17
Supplemental Disclosures of Cash Flow Information    
Accrued expenditures for property, plant and equipment at June 30, $ 51 $ 46
[1] Net income equals comprehensive income.
[2] Net income equals comprehensive income.
[3] Net income equals comprehensive income.