CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions |
12 Months Ended |
Dec. 31, 2015 |
Dec. 31, 2014 |
Dec. 31, 2013 |
Cash Flows from Operating Activities |
|
|
|
|
Net income |
|
$ 682
|
$ 1,737
|
$ 1,130
|
Income (Loss) from Discontinued Operations (net of income taxes) |
|
(921)
|
300
|
(238)
|
Income from continuing operations (net of income taxes) |
|
1,603
|
1,437
|
1,368
|
Adjustments to reconcile net income to net cash provided by (used in) operating activities |
|
|
|
|
Depreciation |
|
883
|
923
|
843
|
Amortization |
|
59
|
65
|
66
|
Defined benefit plans - expense |
|
56
|
48
|
125
|
Deferred income taxes and investment tax credits |
|
428
|
666
|
387
|
Unrealized (gains) losses on derivatives, and other hedging activities |
|
(77)
|
(187)
|
56
|
Adjustment to WPD line loss accrual |
|
0
|
65
|
45
|
Other |
|
17
|
66
|
0
|
Change in current assets and current liabilities |
|
|
|
|
Accounts receivable |
|
47
|
(123)
|
(211)
|
Accounts payable |
|
(116)
|
40
|
127
|
Unbilled revenues |
|
54
|
22
|
(56)
|
Prepayments |
|
(23)
|
87
|
39
|
Taxes payable |
|
(175)
|
161
|
51
|
Uncertain tax positions |
|
(17)
|
0
|
(112)
|
Other |
|
99
|
23
|
(66)
|
Other operating activities |
|
|
|
|
Defined benefit plans - funding |
|
(499)
|
(384)
|
(450)
|
Settlement of interest rate swaps |
|
0
|
0
|
104
|
Settlement of interest rate swaps |
|
(101)
|
0
|
0
|
Other assets |
|
(19)
|
9
|
11
|
Other liabilities |
|
53
|
23
|
120
|
Net cash provided by (used in) operating activities |
|
2,272
|
2,941
|
2,447
|
Net cash provided by (used in) operating activities - discontinued operations |
|
343
|
462
|
409
|
Net cash provided by (used in) operating activities |
|
2,615
|
3,403
|
2,856
|
Cash Flows from Investing Activities |
|
|
|
|
Expenditures for property, plant and equipment |
|
(3,533)
|
(3,674)
|
(3,629)
|
Expenditures for intangible assets |
|
(37)
|
(49)
|
(53)
|
Purchases of other investments |
|
0
|
(120)
|
0
|
Proceeds from the sale of other investments |
|
136
|
0
|
0
|
Net (increase) decrease in restricted cash and cash equivalents |
|
8
|
19
|
2
|
Other investing activities |
|
(13)
|
(2)
|
16
|
Net cash provided by (used in) investing activities |
|
(3,439)
|
(3,826)
|
(3,664)
|
Net cash provided by (used in) investing activities - discontinued operations |
|
(149)
|
497
|
(631)
|
Net cash provided by (used in) investing activities |
|
(3,588)
|
(3,329)
|
(4,295)
|
Cash Flows from Financing Activities |
|
|
|
|
Issuance of long-term debt |
|
2,236
|
296
|
2,038
|
Retirement of long-term debt |
|
(1,000)
|
(237)
|
0
|
Repurchase of common stock |
|
0
|
0
|
(74)
|
Issuance of common stock |
|
203
|
1,074
|
1,411
|
Payment of common stock dividends |
|
(1,004)
|
(967)
|
(878)
|
Contract adjustment payments on Equity Units |
|
0
|
(22)
|
(82)
|
Net increase (decrease) in short-term debt |
|
94
|
147
|
405
|
Other financing activities |
|
(47)
|
(29)
|
(67)
|
Net cash provided by (used in) financing activities |
|
482
|
262
|
2,753
|
Net cash provided by (used in) financing activities - discontinued operations |
|
(546)
|
(846)
|
47
|
Net cash distributions to parent from discontinued operations |
|
132
|
1,167
|
(1,169)
|
Net cash provided by (used in) financing activities |
|
68
|
583
|
1,631
|
Effect of Exchange Rates on Cash and Cash Equivalents |
|
(10)
|
(8)
|
8
|
Net (Increase) Decrease in Cash and Cash Equivalents included in Discontinued Operations |
|
(352)
|
113
|
(175)
|
Net Increase (Decrease) in Cash and Cash Equivalents |
|
(563)
|
536
|
375
|
Cash and Cash Equivalents at Beginning of Period |
|
1,399
|
863
|
488
|
Cash and Cash Equivalents at End of Period |
|
836
|
1,399
|
863
|
Supplemental Disclosures of Cash Flow Information: |
|
|
|
|
Interest - net of amount capitalized |
|
822
|
959
|
916
|
Income taxes - net |
|
179
|
190
|
128
|
PPL Electric Utilities Corp [Member] |
|
|
|
|
Cash Flows from Operating Activities |
|
|
|
|
Net income |
[1] |
252
|
263
|
209
|
Adjustments to reconcile net income to net cash provided by (used in) operating activities |
|
|
|
|
Depreciation |
|
214
|
185
|
178
|
Amortization |
|
26
|
19
|
19
|
Defined benefit plans - expense |
|
16
|
15
|
21
|
Deferred income taxes and investment tax credits |
|
220
|
87
|
127
|
Other |
|
(12)
|
(23)
|
(9)
|
Change in current assets and current liabilities |
|
|
|
|
Accounts receivable |
|
50
|
(64)
|
(29)
|
Accounts payable |
|
(107)
|
30
|
12
|
Unbilled revenues |
|
22
|
3
|
(6)
|
Prepayments |
|
(1)
|
1
|
36
|
Taxes payable |
|
(108)
|
75
|
49
|
Regulatory assets and liabilities |
|
35
|
5
|
19
|
Other |
|
21
|
10
|
(28)
|
Other operating activities |
|
|
|
|
Defined benefit plans - funding |
|
(33)
|
(23)
|
(93)
|
Other assets |
|
(10)
|
19
|
8
|
Other liabilities |
|
17
|
11
|
10
|
Net cash provided by (used in) operating activities |
|
602
|
613
|
523
|
Cash Flows from Investing Activities |
|
|
|
|
Expenditures for property, plant and equipment |
|
(1,097)
|
(931)
|
(903)
|
Expenditures for intangible assets |
|
(10)
|
(26)
|
(39)
|
Net (increase) decrease in notes receivable from affiliates |
|
0
|
150
|
(150)
|
Other investing activities |
|
(1)
|
16
|
12
|
Net cash provided by (used in) investing activities |
|
(1,108)
|
(791)
|
(1,080)
|
Cash Flows from Financing Activities |
|
|
|
|
Issuance of long-term debt |
|
348
|
296
|
348
|
Retirement of long-term debt |
|
(100)
|
(10)
|
0
|
Contributions from parent |
|
275
|
263
|
205
|
Payment of common stock dividends to parent |
|
(181)
|
(158)
|
(127)
|
Net increase (decrease) in short-term debt |
|
0
|
(20)
|
20
|
Other financing activities |
|
(3)
|
(4)
|
(4)
|
Net cash provided by (used in) financing activities |
|
339
|
367
|
442
|
Net Increase (Decrease) in Cash and Cash Equivalents |
|
(167)
|
189
|
(115)
|
Cash and Cash Equivalents at Beginning of Period |
|
214
|
25
|
140
|
Cash and Cash Equivalents at End of Period |
|
47
|
214
|
25
|
Supplemental Disclosures of Cash Flow Information: |
|
|
|
|
Interest - net of amount capitalized |
|
117
|
110
|
87
|
Income taxes - net |
|
38
|
40
|
(45)
|
LG And E And KU Energy LLC [Member] |
|
|
|
|
Cash Flows from Operating Activities |
|
|
|
|
Net income |
|
364
|
344
|
347
|
Income (Loss) from Discontinued Operations (net of income taxes) |
|
0
|
0
|
2
|
Income from continuing operations (net of income taxes) |
|
364
|
344
|
345
|
Adjustments to reconcile net income to net cash provided by (used in) operating activities |
|
|
|
|
Depreciation |
|
382
|
354
|
334
|
Amortization |
|
27
|
25
|
22
|
Defined benefit plans - expense |
|
38
|
25
|
48
|
Deferred income taxes and investment tax credits |
|
236
|
449
|
254
|
Other |
|
2
|
16
|
5
|
Change in current assets and current liabilities |
|
|
|
|
Accounts receivable |
|
24
|
(20)
|
(91)
|
Accounts payable |
|
(58)
|
12
|
40
|
Accounts payable to affiliates |
|
(2)
|
(1)
|
1
|
Unbilled revenues |
|
20
|
13
|
(24)
|
Fuel, materials and supplies |
|
6
|
(32)
|
(1)
|
Income tax receivable |
|
135
|
(136)
|
1
|
Taxes payable |
|
10
|
(3)
|
13
|
Accrued interest |
|
9
|
0
|
2
|
Other |
|
23
|
(1)
|
20
|
Other operating activities |
|
|
|
|
Defined benefit plans - funding |
|
(70)
|
(45)
|
(168)
|
Settlement of interest rate swaps |
|
0
|
0
|
86
|
Settlement of interest rate swaps |
|
(88)
|
0
|
0
|
Other assets |
|
(7)
|
(7)
|
9
|
Other liabilities |
|
12
|
6
|
22
|
Net cash provided by (used in) operating activities |
|
1,063
|
999
|
920
|
Cash Flows from Investing Activities |
|
|
|
|
Expenditures for property, plant and equipment |
|
(1,210)
|
(1,262)
|
(1,434)
|
Net (increase) decrease in notes receivable from affiliates |
|
0
|
70
|
(70)
|
Other investing activities |
|
7
|
1
|
2
|
Net cash provided by (used in) investing activities |
|
(1,203)
|
(1,191)
|
(1,502)
|
Cash Flows from Financing Activities |
|
|
|
|
Issuance of long-term debt |
|
1,050
|
0
|
496
|
Issuance of long-term debt with affiliates |
|
400
|
0
|
0
|
Retirement of long-term debt |
|
900
|
0
|
0
|
Contributions from member |
|
125
|
248
|
243
|
Distributions to member |
|
(219)
|
(436)
|
(254)
|
Debt issuance and credit facility costs |
|
(10)
|
(5)
|
(6)
|
Net increase (decrease) in notes payable to affiliates |
|
13
|
41
|
(25)
|
Net increase (decrease) in short-term debt |
|
(310)
|
330
|
120
|
Net cash provided by (used in) financing activities |
|
149
|
178
|
574
|
Net Increase (Decrease) in Cash and Cash Equivalents |
|
9
|
(14)
|
(8)
|
Cash and Cash Equivalents at Beginning of Period |
|
21
|
35
|
43
|
Cash and Cash Equivalents at End of Period |
|
30
|
21
|
35
|
Supplemental Disclosures of Cash Flow Information: |
|
|
|
|
Interest - net of amount capitalized |
|
163
|
157
|
137
|
Income taxes - net |
|
(139)
|
(75)
|
(67)
|
Louisville Gas And Electric Co [Member] |
|
|
|
|
Cash Flows from Operating Activities |
|
|
|
|
Net income |
[2] |
185
|
169
|
163
|
Adjustments to reconcile net income to net cash provided by (used in) operating activities |
|
|
|
|
Depreciation |
|
162
|
157
|
148
|
Amortization |
|
11
|
12
|
6
|
Defined benefit plans - expense |
|
12
|
9
|
18
|
Deferred income taxes and investment tax credits |
|
126
|
118
|
26
|
Other |
|
8
|
2
|
9
|
Change in current assets and current liabilities |
|
|
|
|
Accounts receivable |
|
19
|
(12)
|
(37)
|
Accounts receivable from affiliates |
|
(11)
|
23
|
(14)
|
Accounts payable |
|
(29)
|
25
|
16
|
Accounts payable to affiliates |
|
5
|
(4)
|
1
|
Unbilled revenues |
|
9
|
9
|
(13)
|
Fuel, materials and supplies |
|
3
|
(8)
|
(12)
|
Income tax receivable |
|
70
|
(74)
|
0
|
Taxes payable |
|
1
|
8
|
9
|
Accrued interest |
|
5
|
0
|
1
|
Other |
|
17
|
0
|
7
|
Other operating activities |
|
|
|
|
Defined benefit plans - funding |
|
(26)
|
(13)
|
(48)
|
Settlement of interest rate swaps |
|
0
|
0
|
43
|
Settlement of interest rate swaps |
|
(44)
|
0
|
0
|
Other assets |
|
11
|
(2)
|
9
|
Other liabilities |
|
(2)
|
(2)
|
6
|
Net cash provided by (used in) operating activities |
|
554
|
371
|
366
|
Cash Flows from Investing Activities |
|
|
|
|
Expenditures for property, plant and equipment |
|
(689)
|
(656)
|
(577)
|
Net cash provided by (used in) investing activities |
|
(689)
|
(656)
|
(577)
|
Cash Flows from Financing Activities |
|
|
|
|
Issuance of long-term debt |
|
550
|
0
|
248
|
Retirement of long-term debt |
|
250
|
0
|
0
|
Contributions from parent |
|
90
|
157
|
86
|
Payment of common stock dividends to parent |
|
(119)
|
(112)
|
(99)
|
Debt issuance and credit facility costs |
|
(5)
|
(2)
|
(3)
|
Net increase (decrease) in short-term debt |
|
(122)
|
244
|
(35)
|
Net cash provided by (used in) financing activities |
|
144
|
287
|
197
|
Net Increase (Decrease) in Cash and Cash Equivalents |
|
9
|
2
|
(14)
|
Cash and Cash Equivalents at Beginning of Period |
|
10
|
8
|
22
|
Cash and Cash Equivalents at End of Period |
|
19
|
10
|
8
|
Supplemental Disclosures of Cash Flow Information: |
|
|
|
|
Interest - net of amount capitalized |
|
48
|
46
|
36
|
Income taxes - net |
|
(81)
|
65
|
51
|
Kentucky Utilities Co [Member] |
|
|
|
|
Cash Flows from Operating Activities |
|
|
|
|
Net income |
[1] |
234
|
220
|
228
|
Adjustments to reconcile net income to net cash provided by (used in) operating activities |
|
|
|
|
Depreciation |
|
220
|
197
|
186
|
Amortization |
|
13
|
11
|
14
|
Defined benefit plans - expense |
|
10
|
5
|
18
|
Deferred income taxes and investment tax credits |
|
160
|
224
|
69
|
Other |
|
(5)
|
13
|
(3)
|
Change in current assets and current liabilities |
|
|
|
|
Accounts receivable |
|
5
|
(9)
|
(44)
|
Accounts receivable from affiliates |
|
1
|
0
|
(7)
|
Accounts payable |
|
(32)
|
(10)
|
23
|
Accounts payable to affiliates |
|
(10)
|
22
|
(8)
|
Unbilled revenues |
|
11
|
4
|
(11)
|
Fuel, materials and supplies |
|
3
|
(25)
|
10
|
Income tax receivable |
|
59
|
(60)
|
0
|
Taxes payable |
|
6
|
(19)
|
7
|
Accrued interest |
|
5
|
0
|
1
|
Other |
|
4
|
(5)
|
9
|
Other operating activities |
|
|
|
|
Defined benefit plans - funding |
|
(21)
|
(5)
|
(65)
|
Settlement of interest rate swaps |
|
0
|
0
|
43
|
Settlement of interest rate swaps |
|
(44)
|
0
|
0
|
Other assets |
|
(11)
|
(4)
|
1
|
Other liabilities |
|
2
|
7
|
10
|
Net cash provided by (used in) operating activities |
|
608
|
566
|
495
|
Cash Flows from Investing Activities |
|
|
|
|
Expenditures for property, plant and equipment |
|
(519)
|
(604)
|
(855)
|
Other investing activities |
|
7
|
1
|
2
|
Net cash provided by (used in) investing activities |
|
(512)
|
(603)
|
(853)
|
Cash Flows from Financing Activities |
|
|
|
|
Issuance of long-term debt |
|
500
|
0
|
248
|
Retirement of long-term debt |
|
250
|
0
|
0
|
Contributions from parent |
|
0
|
91
|
157
|
Payment of common stock dividends to parent |
|
(153)
|
(148)
|
(124)
|
Debt issuance and credit facility costs |
|
(5)
|
(2)
|
(3)
|
Net increase (decrease) in short-term debt |
|
(188)
|
86
|
80
|
Net cash provided by (used in) financing activities |
|
(96)
|
27
|
358
|
Net Increase (Decrease) in Cash and Cash Equivalents |
|
0
|
(10)
|
0
|
Cash and Cash Equivalents at Beginning of Period |
|
11
|
21
|
21
|
Cash and Cash Equivalents at End of Period |
|
11
|
11
|
21
|
Supplemental Disclosures of Cash Flow Information: |
|
|
|
|
Interest - net of amount capitalized |
|
75
|
73
|
61
|
Income taxes - net |
|
$ (84)
|
$ 0
|
$ 47
|
|
|