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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash Flows from Operating Activities    
Net income (loss) $ 627 $ 566
Depreciation 940 872
Amortization 61 30
Defined benefit plans - (income) expense (55) (12)
Deferred income taxes and investment tax credits 142 55
Stock-based compensation expense 22 23
Impairment of assets held for sale 0 67
Other (23) 21
Change in current assets and current liabilities    
Accounts receivable (37) (103)
Accounts payable (129) 120
Unbilled revenues 224 42
Fuel, materials and supplies (43) (71)
Prepayments (44) (23)
Taxes payable (15) (14)
Regulatory assets and liabilities, net (27) (158)
Accrued interest 123 59
Other (2) 52
Other operating activities    
Defined benefit plans - funding (14) (8)
Other assets (58) (77)
Other liabilities (44) 70
Net cash provided by operating activities 1,648 1,511
Cash Flows from Investing Activities    
Expenditures for property, plant and equipment (1,741) (1,515)
Acquisition of Narragansett Electric, net of cash acquired 0 (3,674)
Other investing activities 2 3
Net cash used in investing activities (1,739) (5,186)
Cash Flows from Financing Activities    
Issuance of long-term debt 3,127 850
Retirement of long-term debt (1,763) (263)
Payment of common stock dividends (526) (620)
Net increase (decrease) in short-term debt (698) 441
Other financing activities (52) (1)
Net cash provided by financing activities 88 407
Net Increase (Decrease) in Cash, Cash Equivalents and Restricted Cash (3) (3,268)
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 353  
Cash, Cash Equivalents and Restricted Cash at End of Period 354 304
Supplemental Disclosures of Cash Flow Information    
Accrued expenditures for property, plant and equipment at September 30, 200 239
PPL Electric Utilities Corp [Member]    
Cash Flows from Operating Activities    
Net income (loss) [1] 384 410
Depreciation 297 296
Amortization 31 10
Defined benefit plans - (income) expense (32) (17)
Deferred income taxes and investment tax credits 59 67
Other (19) (12)
Change in current assets and current liabilities    
Accounts receivable (104) (73)
Accounts payable (56) (39)
Unbilled revenues 110 11
Fuel, materials and supplies (33) (22)
Prepayments (22) (12)
Taxes payable (24) (26)
Regulatory assets and liabilities, net (41) (57)
Accrued interest 50 10
Other (5) (25)
Other operating activities    
Defined benefit plans - funding (5) 0
Other assets (2) (15)
Other liabilities 1 (8)
Net cash provided by operating activities 589 498
Cash Flows from Investing Activities    
Expenditures for property, plant and equipment (653) (621)
Expenditures for intangible assets (4) 0
Notes receivable from affiliates 0 499
Other investing activities 2 2
Net cash used in investing activities (655) (120)
Cash Flows from Financing Activities    
Issuance of long-term debt 1,329 250
Retirement of long-term debt (1,150) (250)
Payment of common stock dividends to parent (235) (246)
Net increase (decrease) in short-term debt 42 0
Contributions from parent 200 0
Return of capital to parent (75) (130)
Other financing activities 0 (1)
Debt Issuance Costs (14) 0
Net cash provided by financing activities 97 (377)
Net Increase (Decrease) in Cash, Cash Equivalents and Restricted Cash 31 1
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 56  
Cash, Cash Equivalents and Restricted Cash at End of Period 56 22
Supplemental Disclosures of Cash Flow Information    
Accrued expenditures for property, plant and equipment at September 30, 119 150
Louisville Gas And Electric Co [Member]    
Cash Flows from Operating Activities    
Net income (loss) 210 [2] 224
Depreciation 227 223
Amortization 9 (1)
Defined benefit plans - (income) expense 0 (1)
Deferred income taxes and investment tax credits (3) (3)
Other (7) 3
Change in current assets and current liabilities    
Accounts receivable 37 15
Accounts receivable from affiliates 17 5
Accounts payable (51) 10
Increase (Decrease) in Accounts Payable, Related Parties (9) 19
Unbilled revenues 43 11
Fuel, materials and supplies 25 (22)
Taxes payable (4) 4
Regulatory assets and liabilities, net 34 (12)
Accrued interest 29 17
Other (3) (4)
Other operating activities    
Defined benefit plans - funding (1) (2)
Expenditures for asset retirement obligations (9) (10)
Other assets (19) (3)
Other liabilities 1 0
Net cash provided by operating activities 526 473
Cash Flows from Investing Activities    
Expenditures for property, plant and equipment (277) (273)
Net cash used in investing activities (277) (273)
Cash Flows from Financing Activities    
Issuance of long-term debt 399 300
Retirement of long-term debt (300) 0
Increase Decrease In Notes Payable To Affiliates 6 (310)
Payment of common stock dividends to parent (115) (224)
Net increase (decrease) in short-term debt (179) 41
Contributions from parent 20 10
Return of capital to parent (161) 0
Other financing activities (4) (1)
Net cash provided by financing activities (334) (184)
Net Increase (Decrease) in Cash, Cash Equivalents and Restricted Cash (85) 16
Cash and Cash Equivalents at Beginning of Period 93 9
Cash and Cash Equivalents at End of Period 8 25
Supplemental Disclosures of Cash Flow Information    
Accrued expenditures for property, plant and equipment at September 30, 30 36
Kentucky Utilities Co [Member]    
Cash Flows from Operating Activities    
Net income (loss) [3] 240 268
Depreciation 294 289
Amortization 14 12
Defined benefit plans - (income) expense (4) (3)
Deferred income taxes and investment tax credits (7) (2)
Other 0 3
Change in current assets and current liabilities    
Accounts receivable 10 (17)
Accounts payable (31) 7
Increase (Decrease) in Accounts Payable, Related Parties (27) 22
Unbilled revenues 28 4
Fuel, materials and supplies (8) (17)
Taxes payable 8 15
Regulatory assets and liabilities, net 30 (20)
Accrued interest 37 26
Other (2) (5)
Other operating activities    
Defined benefit plans - funding (1) (1)
Expenditures for asset retirement obligations (17) (23)
Other assets (22) 1
Other liabilities (2) (3)
Net cash provided by operating activities 540 556
Cash Flows from Investing Activities    
Expenditures for property, plant and equipment (430) (397)
Other investing activities 5 0
Net cash used in investing activities (425) (397)
Cash Flows from Financing Activities    
Issuance of long-term debt 399 300
Retirement of long-term debt (313) 0
Increase Decrease In Notes Payable To Affiliates 21 (272)
Payment of common stock dividends to parent (125) (234)
Net increase (decrease) in short-term debt (76) 0
Contributions from parent 54 60
Return of capital to parent (84) 0
Other financing activities (4) (1)
Net cash provided by financing activities (128) (147)
Net Increase (Decrease) in Cash, Cash Equivalents and Restricted Cash (13) 12
Cash and Cash Equivalents at Beginning of Period 21 13
Cash and Cash Equivalents at End of Period 8 25
Supplemental Disclosures of Cash Flow Information    
Accrued expenditures for property, plant and equipment at September 30, $ 45 $ 46
[1] Net income equals comprehensive income.
[2] Net income equals comprehensive income.
[3] Net income equals comprehensive income.