Derivative Instruments and Hedging Activities (Tables)

3 Months Ended

Mar. 31, 2016

Derivative Instruments And Hedging Activities [Line Items]

Fair Value and Balance Sheet Location of Derivative Instruments

The following table presents the fair value and location of derivative instruments recorded on the Balance Sheets, excluding derivative instruments of discontinued operations.

						March 31, 2016								December 31, 2015
						Derivatives designated as				Derivatives not designated				Derivatives designated as				Derivatives not designated
						hedging instruments				as hedging instruments				hedging instruments				as hedging instruments
						Assets		Liabilities		Assets		Liabilities		Assets		Liabilities		Assets		Liabilities
Current:
	Price Risk Management
		Assets/Liabilities (a):
			Interest rate swaps (b)					$	42			$	6			$	24			$	5
			Cross-currency swaps (b)			$	71							$	35
			Foreign currency
				contracts			12			$	100		3		10			$	94		1
					Total current		83		42		100		9		45		24		94		6
Noncurrent:
	Price Risk Management
		Assets/Liabilities (a):
			Interest rate swaps (b)										47								42
			Cross-currency swaps (b)				117								51
			Foreign currency
				contracts							137								105
					Total noncurrent		117				137		47		51				105		42
Total derivatives						$	200	$	42	$	237	$	56	$	96	$	24	$	199	$	48

(a)Current portion is included in "Price risk management assets" and "Other current liabilities" and noncurrent portion is included in "Price risk management assets" and "Other deferred credits and noncurrent liabilities"on theBalance Sheets.

(b)Excludes accrued interest, if applicable.

Pre-tax Gain (Loss) on Derivative Instruments Recognized in Income or on the Balance Sheet

The following tables present the pre-tax effect of derivative instruments recognized in income, OCI or regulatory assets and regulatory liabilities for the three months ended March 31.

2016

2015

Gain (Loss)

Gain (Loss)

Recognized

Recognized

in Income

in Income

on Derivative

Gain (Loss)

on Derivative

Gain (Loss)

(Ineffective

Reclassified

(Ineffective

Location of

Reclassified

Portion and

from AOCI

Portion and

Derivative Gain

Gain (Loss)

from AOCI

Amount

into

Amount

(Loss) Recognized in

Recognized

into Income

Excluded from

Income

Excluded from

Derivative

OCI (Effective Portion)

in Income

(Effective

Effectiveness

(Effective

Effectiveness

Relationships

2016

2015

on Derivative

Portion)

Testing)

Portion)

Testing)

Cash Flow Hedges:

Interest rate swaps

$

(18)

$

(19)

Interest expense

$

(1)

$

(4)

Cross-currency swaps

113

21

Interest expense

1

1

Other income

(expense) - net

97

17

Commodity contracts

Discontinued operations

7

Total

$

95

$

2

$

97

$

21

Net Investment Hedges:

Foreign currency contracts

$

3

$

16

Derivatives Not Designated as	Location of Gain (Loss) Recognized in
Hedging Instruments	Income on Derivative	2016		2015
Foreign currency contracts	Other income (expense) - net	$	60	$	88
Interest rate swaps	Interest expense		(2)		(2)
	Total	$	58	$	86
Derivatives Designated as	Location of Gain (Loss) Recognized as
Hedging Instruments	Regulatory Liabilities/Assets	2016		2015
Interest rate swaps	Regulatory assets- noncurrent			$	(56)
Derivatives Not Designated as	Location of Gain (Loss) Recognized as
Hedging Instruments	Regulatory Liabilities/Assets	2016		2015
Interest rate swaps	Regulatory assets - noncurrent	$	(6)	$	(4)

Derivative Positions Eligible for Offset with Related Cash Collateral

The table below summarizes the derivative positions presented in the balance sheets where a right of setoff exists under these arrangements and related cash collateral received or pledged.

		Assets								Liabilities
				Eligible for Offset								Eligible for Offset
						Cash								Cash
				Derivative		Collateral						Derivative		Collateral
		Gross		Instruments		Received		Net		Gross		Instruments		Pledged		Net
March 31, 2016
Treasury Derivatives
	PPL	$	437	$	45	$	15	$	377	$	98	$	45	$	8	$	45

LKE	53	8	45
LG&E	53	8	45

December 31, 2015
Treasury Derivatives
	PPL	$	295	$	25	$	270	$	72	$	25	$	9	$	38

LKE	47	9	38
LG&E	47	9	38

Credit Risk-Related Contingent Features

At March 31, 2016, derivative contracts in a net liability position that contain credit risk-related contingent features, collateral posted on those positions and the related effect of a decrease in credit ratings below investment grade are summarized as follows:

		PPL		LKE		LG&E
Aggregate fair value of derivative instruments in a net liability position with credit risk-related
	contingent features	$	31	$	30	$	30
Aggregate fair value of collateral posted on these derivative instruments			8		8		8
Aggregate fair value of additional collateral requirements in the event of
	a credit downgrade below investment grade (a)		23		22		22

(a)Includes the effect of net receivables and payables already recorded on the Balance Sheet.

LG And E And KU Energy LLC [Member]

Derivative Instruments And Hedging Activities [Line Items]

Fair Value and Balance Sheet Location of Derivative Instruments

The following table presents the fair value and the location on the Balance Sheets of derivatives not designated as hedging instruments.

					March 31, 2016			December 31, 2015
					Assets	Liabilities			Assets	Liabilities
Current:
	Price Risk Management
		Assets/Liabilities (a):
			Interest rate swaps			$	6			$	5
				Total current			6				5
Noncurrent:
	Price Risk Management
		Assets/Liabilities (a):
			Interest rate swaps				47				42
				Total noncurrent			47				42
Total derivatives						$	53			$	47

(a)Represents the location on the Balance Sheets.

Pre-tax Gain (Loss) on Derivative Instruments Recognized in Income or on the Balance Sheet

The following table presents the pre-tax effect of derivative instruments designated as cash flow hedges that are recognized in regulatory assets for the periods ended March 31.

	Location of Gain (Loss) Recognized in
Derivative Instruments	Regulatory Assets	2016	2015
Interest rate swaps	Regulatory assets - noncurrent		$	(56)

The following tables present the pre-tax effect of derivatives not designated as cash flow hedges that are recognized in income or regulatory assets for the periods ended March 31.

	Location of Gain (Loss) Recognized in
Derivative Instruments	Income on Derivatives	2016		2015
Interest rate swaps	Interest expense	$	(2)	$	(2)
	Location of Gain (Loss) Recognized in
Derivative Instruments	Regulatory Assets	2016		2015
Interest rate swaps	Regulatory assets - noncurrent	$	(6)	$	(4)

Derivative Positions Eligible for Offset with Related Cash Collateral

The table below summarizes the derivative positions presented in the balance sheets where a right of setoff exists under these arrangements and related cash collateral received or pledged.

		Assets								Liabilities
				Eligible for Offset								Eligible for Offset
						Cash								Cash
				Derivative		Collateral						Derivative		Collateral
		Gross		Instruments		Received		Net		Gross		Instruments		Pledged		Net
March 31, 2016
Treasury Derivatives
	PPL	$	437	$	45	$	15	$	377	$	98	$	45	$	8	$	45

LKE	53	8	45
LG&E	53	8	45

December 31, 2015
Treasury Derivatives
	PPL	$	295	$	25	$	270	$	72	$	25	$	9	$	38

LKE	47	9	38
LG&E	47	9	38

Credit Risk-Related Contingent Features

At March 31, 2016, derivative contracts in a net liability position that contain credit risk-related contingent features, collateral posted on those positions and the related effect of a decrease in credit ratings below investment grade are summarized as follows:

		PPL		LKE		LG&E
Aggregate fair value of derivative instruments in a net liability position with credit risk-related
	contingent features	$	31	$	30	$	30
Aggregate fair value of collateral posted on these derivative instruments			8		8		8
Aggregate fair value of additional collateral requirements in the event of
	a credit downgrade below investment grade (a)		23		22		22

(a)Includes the effect of net receivables and payables already recorded on the Balance Sheet.

Louisville Gas And Electric Co [Member]

Derivative Instruments And Hedging Activities [Line Items]

Fair Value and Balance Sheet Location of Derivative Instruments

The following table presents the fair value and the location on the Balance Sheets of derivatives not designated as hedging instruments.

					March 31, 2016			December 31, 2015
					Assets	Liabilities			Assets	Liabilities
Current:
	Price Risk Management
		Assets/Liabilities (a):
			Interest rate swaps			$	6			$	5
				Total current			6				5
Noncurrent:
	Price Risk Management
		Assets/Liabilities (a):
			Interest rate swaps				47				42
				Total noncurrent			47				42
Total derivatives						$	53			$	47

(a)Represents the location on the Balance Sheets.

Pre-tax Gain (Loss) on Derivative Instruments Recognized in Income or on the Balance Sheet

The following table presents the pre-tax effect of derivative instruments designated as cash flow hedges that are recognized in regulatory assets for the periods ended March 31.

	Location of Gain (Loss) Recognized in
Derivative Instruments	Regulatory Assets	2016	2015
Interest rate swaps	Regulatory assets - noncurrent		$	(28)

The following tables present the pre-tax effect of derivatives not designated as cash flow hedges that are recognized in income or regulatory assets for the periods ended March 31.

	Location of Gain (Loss) Recognized in
Derivative Instruments	Income on Derivatives	2016		2015
Interest rate swaps	Interest expense	$	(2)	$	(2)
	Location of Gain (Loss) Recognized in
Derivative Instruments	Regulatory Assets	2016		2015
Interest rate swaps	Regulatory assets - noncurrent	$	(6)	$	(4)

Derivative Positions Eligible for Offset with Related Cash Collateral

The table below summarizes the derivative positions presented in the balance sheets where a right of setoff exists under these arrangements and related cash collateral received or pledged.

		Assets								Liabilities
				Eligible for Offset								Eligible for Offset
						Cash								Cash
				Derivative		Collateral						Derivative		Collateral
		Gross		Instruments		Received		Net		Gross		Instruments		Pledged		Net
March 31, 2016
Treasury Derivatives
	PPL	$	437	$	45	$	15	$	377	$	98	$	45	$	8	$	45

LKE	53	8	45
LG&E	53	8	45

December 31, 2015
Treasury Derivatives
	PPL	$	295	$	25	$	270	$	72	$	25	$	9	$	38

LKE	47	9	38
LG&E	47	9	38

Credit Risk-Related Contingent Features

At March 31, 2016, derivative contracts in a net liability position that contain credit risk-related contingent features, collateral posted on those positions and the related effect of a decrease in credit ratings below investment grade are summarized as follows:

		PPL		LKE		LG&E
Aggregate fair value of derivative instruments in a net liability position with credit risk-related
	contingent features	$	31	$	30	$	30
Aggregate fair value of collateral posted on these derivative instruments			8		8		8
Aggregate fair value of additional collateral requirements in the event of
	a credit downgrade below investment grade (a)		23		22		22

(a)Includes the effect of net receivables and payables already recorded on the Balance Sheet.

Kentucky Utilities Co [Member]

Derivative Instruments And Hedging Activities [Line Items]

Pre-tax Gain (Loss) on Derivative Instruments Recognized in Income or on the Balance Sheet

The following table presents the pre-tax effect of derivative instruments designated as cash flow hedges that are recognized in regulatory assets for the periods ended March 31.

	Location of Gain (Loss) Recognized in
Derivative Instruments	Regulatory Assets	2016	2015
Interest rate swaps	Regulatory assets - noncurrent		$	(28)

Derivative Positions Eligible for Offset with Related Cash Collateral

The table below summarizes the derivative positions presented in the balance sheets where a right of setoff exists under these arrangements and related cash collateral received or pledged.

		Assets								Liabilities
				Eligible for Offset								Eligible for Offset
						Cash								Cash
				Derivative		Collateral						Derivative		Collateral
		Gross		Instruments		Received		Net		Gross		Instruments		Pledged		Net
March 31, 2016
Treasury Derivatives
	PPL	$	437	$	45	$	15	$	377	$	98	$	45	$	8	$	45

LKE	53	8	45
LG&E	53	8	45

December 31, 2015
Treasury Derivatives
	PPL	$	295	$	25	$	270	$	72	$	25	$	9	$	38

LKE	47	9	38
LG&E	47	9	38