CONSOLIDATED BALANCE SHEETS (USD $) In Millions, unless otherwise specified
|
Dec. 31, 2013
|
Dec. 31, 2012
|
Current Assets |
|
|
|
|
Cash and cash equivalents |
$ 1,102 |
|
$ 901 |
|
Restricted cash and cash equivalents |
83 |
|
54 |
|
Accounts receivable (less reserve:) |
|
|
|
|
Customer |
923 |
|
745 |
|
Other |
97 |
|
79 |
|
Unbilled revenues |
835 |
|
857 |
|
Fuel, materials and supplies |
702 |
|
673 |
|
Prepayments |
153 |
|
166 |
|
Deferred income taxes |
246 |
|
30 |
|
Price risk management assets |
942 |
|
1,525 |
|
Regulatory assets |
33 |
|
19 |
|
Other current assets |
37 |
|
19 |
|
Total Current Assets |
5,153 |
|
5,068 |
|
Investments |
|
|
|
|
Nuclear plant decommissioning trust funds |
864 |
|
712 |
|
Other investments |
43 |
|
47 |
|
Total Investments |
907 |
|
759 |
|
Property, Plant and Equipment |
|
|
|
|
Regulated utility plant |
27,755 |
|
25,196 |
|
Less: accumulated depreciation - regulated utility plant |
4,873 |
|
4,164 |
|
Regulated utility plant, net |
22,882 |
|
21,032 |
|
Non-regulated property, plant and equipment |
|
|
|
|
Generation |
11,881 |
|
11,295 |
|
Nuclear fuel |
591 |
|
524 |
|
Other |
834 |
|
726 |
|
Less: accumulated depreciation - non-regulated property, plant and equipment |
6,172 |
|
5,942 |
|
Non-regulated property, plant and equipment, net |
7,134 |
|
6,603 |
|
Construction work in progress |
3,071 |
|
2,397 |
|
Property, Plant and Equipment, net |
33,087 |
|
30,032 |
|
Other Noncurrent Assets |
|
|
|
|
Regulatory assets |
1,246 |
|
1,483 |
|
Goodwill |
4,225 |
|
4,158 |
|
Other intangibles |
947 |
|
925 |
|
Price risk management assets |
337 |
|
572 |
|
Other noncurrent assets |
357 |
|
637 |
|
Total Other Noncurrent Assets |
7,112 |
|
7,775 |
|
Total Assets |
46,259 |
|
43,634 |
|
Current Liabilities |
|
|
|
|
Short-term debt |
701 |
|
652 |
|
Long-term debt due within one year |
315 |
|
751 |
|
Accounts payable |
1,308 |
|
1,252 |
|
Taxes |
114 |
|
90 |
|
Interest |
325 |
|
325 |
|
Dividends |
232 |
|
210 |
|
Price risk management liabilities |
829 |
|
1,065 |
|
Regulatory liabilities |
90 |
|
61 |
|
Other current liabilities |
998 |
|
1,219 |
|
Total Current Liabilities |
4,912 |
|
5,625 |
|
Long-term Debt |
20,592 |
|
18,725 |
|
Deferred Credits and Other Noncurrent Liabilities |
|
|
|
|
Deferred income taxes |
3,928 |
|
3,387 |
|
Investment tax credits |
342 |
|
328 |
|
Price risk management liabilities |
415 |
|
629 |
|
Accrued pension obligations |
1,286 |
|
2,076 |
|
Asset retirement obligations |
687 |
|
536 |
|
Regulatory liabilities |
1,048 |
|
1,010 |
|
Other deferred credits and noncurrent liabilities |
583 |
|
820 |
|
Total Deferred Credits and Other Noncurrent Liabilities |
8,289 |
|
8,786 |
|
Commitments and Contingent Liabilities |
|
|
|
|
Equity |
|
|
|
|
Common stock |
6 |
[1] |
6 |
[1] |
Additional paid-in capital |
8,316 |
|
6,936 |
|
Earnings reinvested |
5,709 |
|
5,478 |
|
Accumulated other comprehensive income (loss) |
(1,565) |
|
(1,940) |
|
Total Stockholders' Equity |
12,466 |
|
10,480 |
|
Noncontrolling Interests |
|
|
18 |
|
Total Equity |
12,466 |
|
10,498 |
|
Total Liabilities and Equity |
46,259 |
|
43,634 |
|
PPL Energy Supply LLC [Member]
|
|
|
|
|
Current Assets |
|
|
|
|
Cash and cash equivalents |
239 |
|
413 |
|
Restricted cash and cash equivalents |
68 |
|
46 |
|
Accounts receivable (less reserve:) |
|
|
|
|
Customer |
233 |
|
183 |
|
Other |
97 |
|
31 |
|
Accounts receivable from affiliates |
45 |
|
125 |
|
Unbilled revenues |
286 |
|
369 |
|
Fuel, materials and supplies |
358 |
|
327 |
|
Prepayments |
20 |
|
15 |
|
Price risk management assets |
860 |
|
1,511 |
|
Other current assets |
27 |
|
10 |
|
Total Current Assets |
2,233 |
|
3,030 |
|
Investments |
|
|
|
|
Nuclear plant decommissioning trust funds |
864 |
|
712 |
|
Other investments |
37 |
|
41 |
|
Total Investments |
901 |
|
753 |
|
Non-regulated property, plant and equipment |
|
|
|
|
Generation |
11,891 |
|
11,305 |
|
Nuclear fuel |
591 |
|
524 |
|
Other |
288 |
|
294 |
|
Less: accumulated depreciation - non-regulated property, plant and equipment |
6,046 |
|
5,817 |
|
Non-regulated property, plant and equipment, net |
6,724 |
|
6,306 |
|
Construction work in progress |
450 |
|
987 |
|
Property, Plant and Equipment, net |
7,174 |
|
7,293 |
|
Other Noncurrent Assets |
|
|
|
|
Goodwill |
86 |
|
86 |
|
Other intangibles |
266 |
|
252 |
|
Price risk management assets |
328 |
|
557 |
|
Other noncurrent assets |
86 |
|
404 |
|
Total Other Noncurrent Assets |
766 |
|
1,299 |
|
Total Assets |
11,074 |
|
12,375 |
|
Current Liabilities |
|
|
|
|
Short-term debt |
|
|
356 |
|
Long-term debt due within one year |
304 |
|
751 |
|
Accounts payable |
393 |
|
438 |
|
Accounts payable to affiliates |
4 |
|
31 |
|
Taxes |
31 |
|
62 |
|
Interest |
22 |
|
31 |
|
Price risk management liabilities |
750 |
|
1,010 |
|
Deferred income taxes |
9 |
|
158 |
|
Other current liabilities |
269 |
|
319 |
|
Total Current Liabilities |
1,782 |
|
3,156 |
|
Long-term Debt |
2,221 |
|
2,521 |
|
Deferred Credits and Other Noncurrent Liabilities |
|
|
|
|
Deferred income taxes |
1,114 |
|
1,232 |
|
Investment tax credits |
205 |
|
186 |
|
Price risk management liabilities |
320 |
|
556 |
|
Accrued pension obligations |
111 |
|
293 |
|
Asset retirement obligations |
393 |
|
365 |
|
Other deferred credits and noncurrent liabilities |
130 |
|
218 |
|
Total Deferred Credits and Other Noncurrent Liabilities |
2,273 |
|
2,850 |
|
Commitments and Contingent Liabilities |
|
|
|
|
Equity |
|
|
|
|
Accumulated other comprehensive income (loss) |
77 |
|
48 |
|
Member's Equity |
4,798 |
|
3,830 |
|
Noncontrolling Interests |
|
|
18 |
|
Total Equity |
4,798 |
|
3,848 |
|
Total Liabilities and Equity |
11,074 |
|
12,375 |
|
PPL Electric Utilities Corp [Member]
|
|
|
|
|
Current Assets |
|
|
|
|
Cash and cash equivalents |
25 |
|
140 |
|
Accounts receivable (less reserve:) |
|
|
|
|
Customer |
284 |
|
249 |
|
Other |
5 |
|
5 |
|
Accounts receivable from affiliates |
4 |
|
29 |
|
Unbilled revenues |
116 |
|
110 |
|
Notes receivable from affiliates |
150 |
|
|
|
Fuel, materials and supplies |
35 |
|
39 |
|
Prepayments |
40 |
|
76 |
|
Deferred income taxes |
85 |
|
45 |
|
Regulatory assets |
6 |
|
|
|
Other current assets |
22 |
|
4 |
|
Total Current Assets |
766 |
|
697 |
|
Property, Plant and Equipment |
|
|
|
|
Regulated utility plant |
6,886 |
|
6,286 |
|
Less: accumulated depreciation - regulated utility plant |
2,417 |
|
2,316 |
|
Regulated utility plant, net |
4,469 |
|
3,970 |
|
Non-regulated property, plant and equipment |
|
|
|
|
Other, net |
2 |
|
2 |
|
Construction work in progress |
591 |
|
370 |
|
Property, Plant and Equipment, net |
5,062 |
|
4,342 |
|
Other Noncurrent Assets |
|
|
|
|
Regulatory assets |
772 |
|
853 |
|
Other intangibles |
211 |
|
171 |
|
Other noncurrent assets |
35 |
|
55 |
|
Total Other Noncurrent Assets |
1,018 |
|
1,079 |
|
Total Assets |
6,846 |
|
6,118 |
|
Current Liabilities |
|
|
|
|
Short-term debt |
20 |
|
|
|
Long-term debt due within one year |
10 |
|
|
|
Accounts payable |
295 |
|
259 |
|
Accounts payable to affiliates |
57 |
|
63 |
|
Taxes |
51 |
|
12 |
|
Interest |
34 |
|
26 |
|
Regulatory liabilities |
76 |
|
52 |
|
Other current liabilities |
82 |
|
93 |
|
Total Current Liabilities |
625 |
|
505 |
|
Long-term Debt |
2,305 |
|
1,967 |
|
Deferred Credits and Other Noncurrent Liabilities |
|
|
|
|
Deferred income taxes |
1,399 |
|
1,233 |
|
Investment tax credits |
2 |
|
3 |
|
Accrued pension obligations |
96 |
|
237 |
|
Regulatory liabilities |
15 |
|
8 |
|
Other deferred credits and noncurrent liabilities |
55 |
|
103 |
|
Total Deferred Credits and Other Noncurrent Liabilities |
1,567 |
|
1,584 |
|
Commitments and Contingent Liabilities |
|
|
|
|
Equity |
|
|
|
|
Common stock |
364 |
[2] |
364 |
[2] |
Additional paid-in capital |
1,340 |
|
1,135 |
|
Earnings reinvested |
645 |
|
563 |
|
Total Stockholders' Equity |
2,349 |
|
2,062 |
|
Total Liabilities and Equity |
6,846 |
|
6,118 |
|
LG And E And KU Energy LLC [Member]
|
|
|
|
|
Current Assets |
|
|
|
|
Cash and cash equivalents |
35 |
|
43 |
|
Accounts receivable (less reserve:) |
|
|
|
|
Customer |
224 |
|
133 |
|
Other |
20 |
|
20 |
|
Accounts receivable from affiliates |
|
|
1 |
|
Unbilled revenues |
180 |
|
156 |
|
Notes receivable from affiliates |
70 |
|
|
|
Fuel, materials and supplies |
278 |
|
276 |
|
Prepayments |
21 |
|
28 |
|
Price risk management assets from affiliates |
|
|
14 |
|
Deferred income taxes |
159 |
|
13 |
|
Regulatory assets |
27 |
|
19 |
|
Other current assets |
3 |
|
4 |
|
Total Current Assets |
1,017 |
|
707 |
|
Property, Plant and Equipment |
|
|
|
|
Regulated utility plant |
8,526 |
|
8,073 |
|
Less: accumulated depreciation - regulated utility plant |
778 |
|
519 |
|
Regulated utility plant, net |
7,748 |
|
7,554 |
|
Non-regulated property, plant and equipment |
|
|
|
|
Other, net |
3 |
|
3 |
|
Construction work in progress |
1,793 |
|
750 |
|
Property, Plant and Equipment, net |
9,544 |
|
8,307 |
|
Other Noncurrent Assets |
|
|
|
|
Regulatory assets |
474 |
|
630 |
|
Goodwill |
996 |
|
996 |
|
Other intangibles |
221 |
|
271 |
|
Other noncurrent assets |
98 |
|
108 |
|
Total Other Noncurrent Assets |
1,789 |
|
2,005 |
|
Total Assets |
12,350 |
|
11,019 |
|
Current Liabilities |
|
|
|
|
Short-term debt |
245 |
|
125 |
|
Notes payable with affiliates |
|
|
25 |
|
Accounts payable |
346 |
|
283 |
|
Accounts payable to affiliates |
3 |
|
1 |
|
Taxes |
39 |
|
26 |
|
Interest |
23 |
|
21 |
|
Price risk management liabilities |
4 |
|
5 |
|
Regulatory liabilities |
14 |
|
9 |
|
Customer deposits |
50 |
|
48 |
|
Other current liabilities |
111 |
|
100 |
|
Total Current Liabilities |
835 |
|
643 |
|
Long-term Debt |
4,565 |
|
4,075 |
|
Deferred Credits and Other Noncurrent Liabilities |
|
|
|
|
Deferred income taxes |
965 |
|
541 |
|
Investment tax credits |
135 |
|
138 |
|
Price risk management liabilities |
32 |
|
53 |
|
Accrued pension obligations |
152 |
|
414 |
|
Asset retirement obligations |
245 |
|
125 |
|
Regulatory liabilities |
1,033 |
|
1,002 |
|
Other deferred credits and noncurrent liabilities |
238 |
|
242 |
|
Total Deferred Credits and Other Noncurrent Liabilities |
2,800 |
|
2,515 |
|
Commitments and Contingent Liabilities |
|
|
|
|
Equity |
|
|
|
|
Accumulated other comprehensive income (loss) |
13 |
|
(15) |
|
Member's Equity |
4,150 |
|
3,786 |
|
Total Liabilities and Equity |
12,350 |
|
11,019 |
|
Louisville Gas And Electric Co [Member]
|
|
|
|
|
Current Assets |
|
|
|
|
Cash and cash equivalents |
8 |
|
22 |
|
Accounts receivable (less reserve:) |
|
|
|
|
Customer |
102 |
|
59 |
|
Other |
9 |
|
16 |
|
Accounts receivable from affiliates |
|
|
14 |
|
Unbilled revenues |
85 |
|
72 |
|
Fuel, materials and supplies |
154 |
|
142 |
|
Prepayments |
7 |
|
7 |
|
Price risk management assets from affiliates |
|
|
7 |
|
Regulatory assets |
17 |
|
19 |
|
Other current assets |
3 |
|
1 |
|
Total Current Assets |
385 |
|
359 |
|
Property, Plant and Equipment |
|
|
|
|
Regulated utility plant |
3,383 |
|
3,187 |
|
Less: accumulated depreciation - regulated utility plant |
332 |
|
220 |
|
Regulated utility plant, net |
3,051 |
|
2,967 |
|
Non-regulated property, plant and equipment |
|
|
|
|
Construction work in progress |
651 |
|
259 |
|
Property, Plant and Equipment, net |
3,702 |
|
3,226 |
|
Other Noncurrent Assets |
|
|
|
|
Regulatory assets |
303 |
|
400 |
|
Goodwill |
389 |
|
389 |
|
Other intangibles |
120 |
|
144 |
|
Other noncurrent assets |
35 |
|
44 |
|
Total Other Noncurrent Assets |
847 |
|
977 |
|
Total Assets |
4,934 |
|
4,562 |
|
Current Liabilities |
|
|
|
|
Short-term debt |
20 |
|
55 |
|
Accounts payable |
166 |
|
117 |
|
Accounts payable to affiliates |
24 |
|
23 |
|
Taxes |
11 |
|
2 |
|
Interest |
6 |
|
5 |
|
Price risk management liabilities |
4 |
|
5 |
|
Regulatory liabilities |
9 |
|
4 |
|
Customer deposits |
24 |
|
23 |
|
Other current liabilities |
32 |
|
34 |
|
Total Current Liabilities |
296 |
|
268 |
|
Long-term Debt |
1,353 |
|
1,112 |
|
Deferred Credits and Other Noncurrent Liabilities |
|
|
|
|
Deferred income taxes |
582 |
|
544 |
|
Investment tax credits |
38 |
|
40 |
|
Price risk management liabilities |
32 |
|
53 |
|
Accrued pension obligations |
19 |
|
102 |
|
Asset retirement obligations |
68 |
|
56 |
|
Regulatory liabilities |
482 |
|
471 |
|
Other deferred credits and noncurrent liabilities |
104 |
|
106 |
|
Total Deferred Credits and Other Noncurrent Liabilities |
1,325 |
|
1,372 |
|
Commitments and Contingent Liabilities |
|
|
|
|
Equity |
|
|
|
|
Common stock |
424 |
[3] |
424 |
[3] |
Additional paid-in capital |
1,364 |
|
1,278 |
|
Earnings reinvested |
172 |
|
108 |
|
Total Stockholders' Equity |
1,960 |
|
1,810 |
|
Total Liabilities and Equity |
4,934 |
|
4,562 |
|
Kentucky Utilities Co [Member]
|
|
|
|
|
Current Assets |
|
|
|
|
Cash and cash equivalents |
21 |
|
21 |
|
Accounts receivable (less reserve:) |
|
|
|
|
Customer |
122 |
|
74 |
|
Other |
9 |
|
13 |
|
Accounts receivable from affiliates |
|
|
7 |
|
Unbilled revenues |
95 |
|
84 |
|
Fuel, materials and supplies |
124 |
|
134 |
|
Prepayments |
4 |
|
10 |
|
Price risk management assets from affiliates |
|
|
7 |
|
Regulatory assets |
10 |
|
|
|
Other current assets |
6 |
|
6 |
|
Total Current Assets |
391 |
|
356 |
|
Property, Plant and Equipment |
|
|
|
|
Regulated utility plant |
5,143 |
|
4,886 |
|
Less: accumulated depreciation - regulated utility plant |
446 |
|
299 |
|
Regulated utility plant, net |
4,697 |
|
4,587 |
|
Non-regulated property, plant and equipment |
|
|
|
|
Other, net |
1 |
|
1 |
|
Construction work in progress |
1,139 |
|
490 |
|
Property, Plant and Equipment, net |
5,837 |
|
5,078 |
|
Other Noncurrent Assets |
|
|
|
|
Regulatory assets |
171 |
|
230 |
|
Goodwill |
607 |
|
607 |
|
Other intangibles |
101 |
|
127 |
|
Other noncurrent assets |
56 |
|
57 |
|
Total Other Noncurrent Assets |
935 |
|
1,021 |
|
Total Assets |
7,163 |
|
6,455 |
|
Current Liabilities |
|
|
|
|
Short-term debt |
150 |
|
70 |
|
Accounts payable |
159 |
|
147 |
|
Accounts payable to affiliates |
25 |
|
33 |
|
Taxes |
33 |
|
26 |
|
Interest |
11 |
|
10 |
|
Regulatory liabilities |
5 |
|
5 |
|
Customer deposits |
26 |
|
25 |
|
Other current liabilities |
36 |
|
33 |
|
Total Current Liabilities |
445 |
|
349 |
|
Long-term Debt |
2,091 |
|
1,842 |
|
Deferred Credits and Other Noncurrent Liabilities |
|
|
|
|
Deferred income taxes |
658 |
|
587 |
|
Investment tax credits |
97 |
|
98 |
|
Accrued pension obligations |
11 |
|
104 |
|
Asset retirement obligations |
177 |
|
69 |
|
Regulatory liabilities |
551 |
|
531 |
|
Other deferred credits and noncurrent liabilities |
89 |
|
92 |
|
Total Deferred Credits and Other Noncurrent Liabilities |
1,583 |
|
1,481 |
|
Commitments and Contingent Liabilities |
|
|
|
|
Equity |
|
|
|
|
Common stock |
308 |
[4] |
308 |
[4] |
Additional paid-in capital |
2,505 |
|
2,348 |
|
Earnings reinvested |
230 |
|
126 |
|
Accumulated other comprehensive income (loss) |
1 |
|
1 |
|
Total Stockholders' Equity |
3,044 |
|
2,783 |
|
Total Liabilities and Equity |
$ 7,163 |
|
$ 6,455 |
|
|
|