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CONDENSED CONSOLIDATED STATEMENTS OF EQUITY (Unaudited) (USD $)
In Millions, except Share data in Thousands
Total
Common Stock
Additional Paid-in Capital
Earnings Reinvested
Accumulated Other Comprehensive Loss
Non-controlling Interests
PPL Energy Supply LLC [Member]
PPL Energy Supply LLC [Member]
Members Equity [Member]
PPL Energy Supply LLC [Member]
Non-controlling Interests
PPL Electric Utilities Corp [Member]
PPL Electric Utilities Corp [Member]
Common Stock
PPL Electric Utilities Corp [Member]
Preference Stock
PPL Electric Utilities Corp [Member]
Additional Paid-in Capital
PPL Electric Utilities Corp [Member]
Earnings Reinvested
LG And E And KU Energy LLC [Member]
Louisville Gas And Electric Co [Member]
Louisville Gas And Electric Co [Member]
Common Stock
Louisville Gas And Electric Co [Member]
Additional Paid-in Capital
Louisville Gas And Electric Co [Member]
Earnings Reinvested
Kentucky Utilities Co [Member]
Kentucky Utilities Co [Member]
Common Stock
Kentucky Utilities Co [Member]
Additional Paid-in Capital
Kentucky Utilities Co [Member]
Earnings Reinvested
Kentucky Utilities Co [Member]
Accumulated Other Comprehensive Loss
Balance at beginning of period at Jun. 30, 2011                   $ 1,980 $ 364 $ 250 $ 879 $ 487   $ 1,738 $ 424 $ 1,278 $ 36 $ 2,710 $ 308 $ 2,348 $ 55 $ (1)
Balance at beginning of period at Jun. 30, 2011 10,919 6 6,774 4,306 (435) 268                                    
Balance at beginning of period at Jun. 30, 2011                             3,991                  
Balance at beginning of period - shares at Jun. 30, 2011   577,265 [1]                 66,368 [2]           21,294 [3]       37,818 [4]      
Balance at beginning of period at Jun. 30, 2011             3,452 3,434 18                              
Common stock shares issued [1],[5]   579                                            
Common stock issued [5] 16    16                                          
Stock-based compensation [6] 5   5                                          
Net income 449     444   5 170 169 1 32 [7]       32 89 [7] 43 [7]     43 56 [7]     56  
Dividends, dividend equivalents and distributions [8] (208)     (203)   (5)                                    
Cash dividends declared on preference stock                   (4)       (4)                    
Cash dividends declared on common stock                   (24)       (24)   (13)     (13) (20)     (20)  
Distributions to member             (76) (75) (1)           (323)                  
Contributions from member             193 193                                
Capital contributions from PPL                         56                      
Other comprehensive income (loss) (65)       (65)   (55) (55)                               1
Balance at end of period at Sep. 30, 2011                   2,040 364 250 935 491   1,768 424 1,278 66 2,747 308 2,348 91   
Balance at end of period at Sep. 30, 2011 11,116 6 6,795 4,547 (500) 268                                    
Balance at end of period at Sep. 30, 2011                             3,757                  
Balance at end of period - shares at Sep. 30, 2011   577,844 [1]                 66,368 [2]           21,294 [3]       37,818 [4]      
Balance at end of period at Sep. 30, 2011             3,684 3,666 18                              
Balance at beginning of period at Dec. 31, 2010                   1,944 364 250 879 451   1,721 424 1,278 19 2,691 308 2,348 35  
Balance at beginning of period at Dec. 31, 2010 8,478 5 4,602 4,082 (479) 268                                    
Balance at beginning of period at Dec. 31, 2010                             4,011                  
Balance at beginning of period - shares at Dec. 31, 2010   483,391 [1]                 66,368 [2]           21,294 [3]       37,818 [4]      
Balance at beginning of period at Dec. 31, 2010             4,509 4,491 18                              
Common stock shares issued [1],[5]   94,453                                            
Common stock issued [5] 2,329 1 2,328                                          
Purchase Contracts [9] (141)   (141)                                          
Stock-based compensation [6] 6   6                                          
Net income 1,054     1,041   13 473 472 1 128 [7]       128 217 [7] 102 [7]     102 144 [7]     144  
Dividends, dividend equivalents and distributions [8] (589)     (576)   (13)                                    
Cash dividends declared on preference stock                   (12)       (12)                    
Cash dividends declared on common stock                   (76)       (76)   (55)     (55) (88)     (88)  
Distributions to member             (210) (209) (1)           (469)                  
Distribution of membership interest in PPL Global [10]             1,288 1,288                                
Contributions from member             361 361                                
Capital contributions from PPL                   56     56                      
Other comprehensive income (loss) (21)       (21)   (161) (161)             (2)                  
Balance at end of period at Sep. 30, 2011                   2,040 364 250 935 491   1,768 424 1,278 66 2,747 308 2,348 91  
Balance at end of period at Sep. 30, 2011 11,116 6 6,795 4,547 (500) 268                                    
Balance at end of period at Sep. 30, 2011                             3,757                  
Balance at end of period - shares at Sep. 30, 2011   577,844 [1]                 66,368 [2]           21,294 [3]       37,818 [4]      
Balance at end of period at Sep. 30, 2011             3,684 3,666 18                              
Balance at beginning of period at Dec. 31, 2011 10,828                 2,125 364 250 979 532   1,762 424 1,278 60 2,745 308 2,348 89  
Balance at beginning of period at Dec. 31, 2011 11,096 6 6,813 4,797 (788) 268                                    
Balance at beginning of period at Dec. 31, 2011             4,019               3,741                  
Balance at beginning of period - shares at Dec. 31, 2011 578,405 578,405 [1]               66,368 66,368 [2]         21,294 21,294 [3]     37,818        
Balance at beginning of period at Dec. 31, 2011             4,037 4,019 18                              
Common stock shares issued [1],[5]   2,565                                            
Common stock issued [5] 71   71                                          
Stock-based compensation [6] 28   28                                          
Net income 1,171     1,167   4 383 382 1 99 [7]       99 180 [7] 94 [7]     94 118 [7]     118  
Dividends, dividend equivalents, redemptions and distributions [8] (883)     (629)   (254)                                    
Cash dividends declared on preference stock                   (4)       (4)                    
Cash dividends declared on common stock                   (75)       (75)   (47)     (47) (68)     (68)  
Distributions to member             (734) (733) (1)           (95)                  
Contributions from member             472 472                                
Capital contributions from PPL                   150     150                      
Redemption of preferred stock [11]                   (250)   (250)                        
Other comprehensive income (loss) (251)       (251)   (257) (257)             (4)                 (4)
Balance at end of period at Sep. 30, 2012 11,214                 2,045 364    1,129 552   1,809 424 1,278 107 2,791 308 2,348 139 (4)
Balance at end of period at Sep. 30, 2012 11,232 6 6,912 5,335 (1,039) 18                                    
Balance at end of period at Sep. 30, 2012             3,883               3,822                  
Balance at end of period - shares at Sep. 30, 2012 580,970                 66,368           21,294       37,818        
Balance at end of period at Sep. 30, 2012             3,901 3,883 18                              
Balance at beginning of period at Jun. 30, 2012                   1,881 364    979 538   1,782 424 1,278 80 2,761 308 2,348 109 (4)
Balance at beginning of period at Jun. 30, 2012 10,980 6 6,886 5,190 (1,120) 18                                    
Balance at beginning of period at Jun. 30, 2012                             3,774                  
Balance at beginning of period - shares at Jun. 30, 2012   580,213 [1]                 66,368 [2]           21,294 [3]     37,818 [4]        
Balance at beginning of period at Jun. 30, 2012             4,000 3,982 18                              
Common stock shares issued [1],[5]   757                                            
Common stock issued [5] 21   21                                          
Stock-based compensation [6] 5   5                                          
Net income 355     355     55 54 1 33 [7]       33 83 [7] 43 [7]     43 50 [7]     50  
Dividends, dividend equivalents, redemptions and distributions [8] (210)     (210)                                        
Cash dividends declared on common stock                   (19)       (19)   (16)     (16) (20)     (20)  
Distributions to member             (77) (76) (1)           (35)                  
Capital contributions from PPL                         150                      
Other comprehensive income (loss) 81       81   (77) (77)                                
Balance at end of period at Sep. 30, 2012 11,214                 2,045 364   1,129 552   1,809 424 1,278 107 2,791 308 2,348 139  
Balance at end of period at Sep. 30, 2012 11,232 6 6,912 5,335 (1,039)                                      
Balance at end of period at Sep. 30, 2012             3,883               3,822                  
Balance at end of period - shares at Sep. 30, 2012 580,970                 66,368           21,294       37,818        
Balance at end of period at Sep. 30, 2012             $ 3,901 $ 3,883 $ 18                              
[1] Shares in thousands. Each share entitles the holder to one vote on any question presented at any shareowners' meeting.
[2] Shares in thousands. All common shares of PPL Electric stock are owned by PPL.
[3] Shares in thousands. All common shares of LG&E stock are owned by LKE.
[4] Shares in thousands. All common shares of KU stock are owned by LKE.
[5] Each period includes shares of common stock issued through various stock and incentive compensation plans. The nine months ended September 30, 2011 includes the April issuance of 92 million shares of common stock.
[6] The three and nine months ended September 30, 2012 include $7 million and $42 million and the three and nine months ended September 30, 2011 include $5 million and $27 million of stock-based compensation expense related to new and existing unvested equity awards. The three and nine months ended September 30, 2012 include $(2) million and $(14) million and the nine months ended September 30, 2011 includes $(21) million related primarily to the reclassification from "Stock-based compensation" to "Common stock issued" for the issuance of common stock after applicable equity award vesting periods and tax adjustments related to stock-based compensation.
[7] Net income approximates comprehensive income.
[8] "Earnings reinvested" includes dividends and dividend equivalents on PPL Corporation common stock and restricted stock units. "Noncontrolling interests" includes dividends, redemptions and distributions to noncontrolling interests. In June 2012, PPL Electric redeemed all of its outstanding preference stock at par value, $250 million in the aggregate. See Note 7 for additional information.
[9] The nine months ended September 30, 2011 include $123 million for the 2011 Purchase Contracts and $18 million of related fees and expenses, net of tax.
[10] In January 2011, PPL Energy Supply distributed its entire membership interest in PPL Global to PPL Energy Supply's parent, PPL Energy Funding. The distribution was made based on the book value of the assets and liabilities of PPL Global with financial effect as of January 1, 2011, and no gains or losses were recognized on the distribution.
[11] In June 2012, PPL Electric redeemed all of its outstanding preference stock. See Note 7 for additional information.