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CONSOLIDATED STATEMENTS OF EQUITY (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]
Member's Equity
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]
Preferred Securities
PPL Electric Utilities Corp [Member]
Additional Paid-in Capital
PPL Electric Utilities Corp [Member]
Earnings Reinvested
LG And E And KU Energy LLC [Member]
LG And E And KU Energy LLC [Member]
Successor [Member]
LG And E And KU Energy LLC [Member]
Predecessor [Member]
LG And E And KU Energy LLC [Member]
Member's Equity
Successor [Member]
LG And E And KU Energy LLC [Member]
Member's Equity
Predecessor [Member]
LG And E And KU Energy LLC [Member]
Non-controlling Interests
Successor [Member]
LG And E And KU Energy LLC [Member]
Non-controlling Interests
Predecessor [Member]
Louisville Gas And Electric Co [Member]
Louisville Gas And Electric Co [Member]
Successor [Member]
Louisville Gas And Electric Co [Member]
Predecessor [Member]
Louisville Gas And Electric Co [Member]
Common Stock
Successor [Member]
Louisville Gas And Electric Co [Member]
Common Stock
Predecessor [Member]
Louisville Gas And Electric Co [Member]
Additional Paid-in Capital
Successor [Member]
Louisville Gas And Electric Co [Member]
Additional Paid-in Capital
Predecessor [Member]
Louisville Gas And Electric Co [Member]
Earnings Reinvested
Successor [Member]
Louisville Gas And Electric Co [Member]
Earnings Reinvested
Predecessor [Member]
Louisville Gas And Electric Co [Member]
Accumulated Other Comprehensive Loss
Successor [Member]
Louisville Gas And Electric Co [Member]
Accumulated Other Comprehensive Loss
Predecessor [Member]
Kentucky Utilities Co [Member]
Kentucky Utilities Co [Member]
Successor [Member]
Kentucky Utilities Co [Member]
Predecessor [Member]
Kentucky Utilities Co [Member]
Common Stock
Successor [Member]
Kentucky Utilities Co [Member]
Common Stock
Predecessor [Member]
Kentucky Utilities Co [Member]
Additional Paid-in Capital
Successor [Member]
Kentucky Utilities Co [Member]
Additional Paid-in Capital
Predecessor [Member]
Kentucky Utilities Co [Member]
Earnings Reinvested
Successor [Member]
Kentucky Utilities Co [Member]
Earnings Reinvested
Predecessor [Member]
Kentucky Utilities Co [Member]
Accumulated Other Comprehensive Loss
Successor [Member]
Kentucky Utilities Co [Member]
Accumulated Other Comprehensive Loss
Predecessor [Member]
Balance at beginning of period at Dec. 31, 2009                     $ 364                         $ 1,253   $ 424   $ 84   $ 755   $ (10) [1]     $ 1,952   $ 308   $ 316   $ 1,328     
Balance at beginning of period - shares at Dec. 31, 2009                     66,368 [2]                             21,294 [3]                     37,818 [4]            
Balance at beginning of period at Dec. 31, 2009 [1]                                 2,224   2,192   32                                            
Net income                                 190   190          109             109          140             140     
Cash dividends declared on common stock                                               (55)             (55)          (50)             (50)     
Distributions to member                                 (81)   (81)                                                 
Contributions from member                                                                                       
Other comprehensive income (loss)                                 (10)   (10)          10                  10     (2)                  (2)
Noncontrolling interest - income (loss) from discontinued operations                                 (43)   (11)   (32)                                            
Balance at end of period at Oct. 31, 2010                                               1,317   424   84   809      [1]     2,040   308   316   1,418   (2) [1]
Balance at end of period - shares at Oct. 31, 2010                                                   21,294 [3]                     37,818 [4]            
Balance at end of period at Oct. 31, 2010                                 2,280 [1]   2,280 [1]                                                 
Balance at beginning of period at Dec. 31, 2009                   1,896 364 301 824 407                                                          
Balance at beginning of period at Dec. 31, 2009 5,815 4 2,280 3,749 (537) [1] 319                                                                          
Balance at beginning of period - shares at Dec. 31, 2009   377,183 [5]                 66,368 [2]                                                                
Balance at beginning of period at Dec. 31, 2009             4,586 4,568 [1] 18                                                                    
Common stock shares issued [5],[6]   106,208                                                                                  
Common stock issued 2,491 1 2,490                                                                                
Purchase Contracts [7] (176)   (176)                                                                                
Stock-based compensation [8] 8   8                                                                                
Net income 959     938   21 862 861 1 135 [9]       135                                                          
Dividends, dividend equivalents, redemptions and distributions [10] (677)     (605)   (72)                                                                          
Cash dividends declared on preferred securities                   (17)       (17)                                                          
Cash dividends declared on common stock                   (71)       (71)                                                          
Distributions to member             (4,693) (4,692) (1)                                                                    
Contributions from member             3,625 3,625                                                                      
Capital contributions from PPL                   55     55                                                            
Redemption of preferred securities [11]                   (54)   (51)   (3)                                                          
Other comprehensive income (loss) 58       58   129 129                                                                      
Balance at end of period at Dec. 31, 2010                   1,944 364 250 879 451                                                          
Balance at end of period at Dec. 31, 2010 8,478 5 4,602 4,082 (479) [1] 268                                                                          
Balance at end of period - shares at Dec. 31, 2010   483,391 [5]                 66,368 [2]                                                                
Balance at end of period at Dec. 31, 2010             4,509 4,491 [1] 18                                                                    
Balance at beginning of period at Oct. 31, 2010                                                                                      
Effect of PPL acquisition                               213   213          385        1,194   (809)          616        2,032   (1,418)   2  
Net income                               47   47          19             19          35             35       
Distributions to member                               (100)   (100)                                                   
Contributions from member                               1,565   1,565                                                   
Other comprehensive income (loss)                               6   6                                                     
Balance at end of period at Dec. 31, 2010                   1,944 364                       1,721   424   1,278   19          2,691   308   2,348   35       
Balance at end of period at Dec. 31, 2010                               4,011 [1]   4,011 [1]                                                   
Balance at end of period - shares at Dec. 31, 2010                     66,368 [2]                           21,294 [3]                     37,818 [4]              
Balance at beginning of period at Dec. 31, 2010 8,478                                                                                    
Net income 405 [12]                 56 [13]                                                                  
Balance at end of period at Mar. 31, 2011                                                                                      
Balance at beginning of period at Dec. 31, 2010                   1,944 364   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) [1] 268                                                                          
Balance at beginning of period at Dec. 31, 2010                               4,011 [1]   4,011 [1]                                                   
Balance at beginning of period - shares at Dec. 31, 2010   483,391 [5]                 66,368 [2]                           21,294 [3]                     37,818 [4]              
Balance at beginning of period at Dec. 31, 2010             4,509 4,491 [1] 18                                                                    
Common stock shares issued [5],[6]   95,014                                                                                  
Common stock issued 2,345 1 2,344                                                                                
Purchase Contracts [7] (143)   (143)                                                                                
Stock-based compensation [8] 10   10                                                                                
Net income 1,512     1,495   17 769 768 1 189 [9]       189   265   265          124             124          178             178       
Dividends, dividend equivalents, redemptions and distributions [10] (797)     (780)   (17)                                                                          
Cash dividends declared on preferred securities                   (16)       (16)                                                          
Cash dividends declared on common stock                   (92)       (92)                 (83)             (83)          (124)             (124)       
Distributions to member             (317) (316) (1)             (533)   (533)                                                   
Distribution of membership interest in PPL Global [14]             (1,288) (1,288)                                                                      
Contributions from member             461 461                                                                       
Capital contributions from PPL                   100     100                                                            
Other comprehensive income (loss) (309)       (309)   (97) (97)               (2)   (2)                                                     
Balance at end of period at Dec. 31, 2011 10,828                 2,125 364   979 532               1,762     424   1,278   60        2,745     308   2,348   89       
Balance at end of period at Dec. 31, 2011 11,096 6 6,813 4,797 (788) [1] 268                                                                          
Balance at end of period at Dec. 31, 2011             4,019               3,741     3,741 [1]                                                   
Balance at end of period - shares at Dec. 31, 2011 578,405 578,405 [5]               66,368 66,368 [2]                     21,294     21,294 [3]               37,818     37,818 [4]              
Balance at end of period at Dec. 31, 2011             4,037 4,019 [1] 18                                                                    
Balance at beginning of period at Sep. 30, 2011                                                                                      
Net income 458 [12]                 61 [13]                                                                  
Balance at end of period at Dec. 31, 2011                             3,741                                                        
Balance at end of period at Dec. 31, 2011 10,828                 2,125 364                     1,762                     2,745                    
Balance at end of period at Dec. 31, 2011 11,096                                                                                    
Balance at end of period - shares at Dec. 31, 2011 578,405                 66,368 66,368 [2]                     21,294                     37,818                    
Net income 545 [12]                 37 [13]                                                                  
Balance at end of period at Mar. 31, 2012                                                                                      
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) [1] 268                                                                          
Balance at beginning of period at Dec. 31, 2011             4,019               3,741     3,741 [1]                                                   
Balance at beginning of period - shares at Dec. 31, 2011 578,405 578,405 [5]               66,368 66,368 [2]                     21,294     21,294 [3]               37,818     37,818 [4]              
Balance at beginning of period at Dec. 31, 2011             4,037 4,019 [1] 18                                                                    
Common stock shares issued [5],[6]   3,543                                                                                  
Common stock issued 99    99                                                                                
Common stock shares repurchased [5]   (4)                                                                                  
Purchase Contracts                                                                                        
Stock-based compensation [8] 18   18                                                                                
Net income 1,531     1,526   5 475 474 1 136 [9]       136   219   219          123             123          137             137       
Dividends, dividend equivalents, redemptions and distributions [10] (1,094)   6 (845)   (255)                                                                          
Cash dividends declared on preferred securities                   (4)       (4)                                                          
Cash dividends declared on common stock                   (95)       (95)                 (75)             (75)          (100)             (100)       
Distributions to member             (788) (787) (1)             (155)   (155)                                                   
Contributions from member             563 563                                                                       
Capital contributions from PPL                   150     150                                                            
Redemption of preferred securities [11]                   (250)   (250) 6 (6)                                                          
Other comprehensive income (loss) (1,152)       (1,152)   (439) (439)               (19)   (19)                                 1                  1  
Balance at end of period at Dec. 31, 2012 10,480                 2,062 364    1,135 563               1,810     424   1,278   108        2,783     308   2,348   126   1 [1]  
Balance at end of period at Dec. 31, 2012 10,498 6 6,936 5,478 (1,940) [1] 18                                                                          
Balance at end of period at Dec. 31, 2012             3,830               3,786     3,786 [1]                                                   
Balance at end of period - shares at Dec. 31, 2012 581,944 581,944 [5]               66,368 66,368 [2]                     21,294     21,294 [3]               37,818     37,818 [4]              
Balance at end of period at Dec. 31, 2012             3,848 3,830 [1] 18                                                                    
Balance at beginning of period at Sep. 30, 2012                                                                                      
Net income 360 [12]                 37 [13]                                                                  
Balance at end of period at Dec. 31, 2012                             3,786                                                        
Balance at end of period at Dec. 31, 2012 10,480                 2,062 364                     1,810                     2,783                    
Balance at end of period at Dec. 31, 2012 $ 10,498                                                                                    
Balance at end of period - shares at Dec. 31, 2012 581,944                 66,368 66,368 [2]                     21,294                     37,818                    
[1] See “General - Comprehensive Income” in Note 1 for disclosure of balances of each component of AOCI.
[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] Shares in thousands. Each share entitles the holder to one vote on any question presented at any shareowners' meeting.
[6] 2011 includes the April issuance of 92 million shares of common stock, and 2010 includes the June issuance of 103.5 million shares of common stock. See Note 7 for additional information. All years presented include shares of common stock issued through various stock and incentive compensation plans.
[7] 2011 includes $123 million for the 2011 Purchase Contracts and $20 million of related fees and expenses, net of tax. 2010 includes $157 million for the 2010 Purchase Contracts and $19 million of related fees and expenses, net of tax. See Note 7 for additional information.
[8] 2012, 2011 and 2010 include $47 million, $33 million and $26 million of stock-based compensation expense related to new and existing unvested equity awards, and $(29) million, $(23) million and $(18) 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.
[9] Net income approximates comprehensive income.
[10] "Earnings reinvested" includes dividends and dividend equivalents on PPL common stock and restricted stock units. "Noncontrolling interests" includes dividends, redemptions and distributions to noncontrolling interests. In April 2010 and June 2012, collectively, PPL Electric redeemed all of its outstanding preferred securities. See Note 3 for additional information on both redemptions.
[11] In April 2010 and June 2012, collectively, PPL Electric redeemed all of its outstanding preferred securities. See Note 3 for additional information on both redemptions.
[12] Quarterly results can vary depending on, among other things, weather and the forward pricing of power. Accordingly, comparisons among quarters of a year may not be indicative of overall trends and changes in operations.
[13] PPL Electric's business is seasonal in nature, with peak sales periods generally occurring in the winter and summer months. Accordingly, comparisons among quarters of a year may not be indicative of overall trends and changes in operations.
[14] See Note 9 for additional information.