XML 58 R5.htm IDEA: XBRL DOCUMENT v3.6.0.2
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Cash Flows from Operating Activities      
Net income $ 1,902 $ 682 $ 1,737
Loss (income) from Discontinued Operations (net of income taxes) 0 921 (300)
Income from continuing operations (net of income taxes) 1,902 1,603 1,437
Adjustments to reconcile income from continuing operations (net of taxes) to net cash provided by (used in) operating activities - continuing operations      
Depreciation 926 883 923
Amortization 80 59 65
Defined benefit plans - expense (40) 56 48
Deferred income taxes and investment tax credits 560 428 666
Unrealized (gains) losses on derivatives, and other hedging activities 19 (77) (187)
Adjustment to WPD line loss accrual 0 0 (65)
Other 16 17 66
Change in current assets and current liabilities      
Accounts receivable (15) 47 (123)
Accounts payable 57 (116) 40
Unbilled revenues (63) 54 22
Prepayments (4) (23) 87
Taxes payable 31 (175) 161
Regulatory assets and liabilities (59) 42 (7)
Other (31) 40 30
Other operating activities      
Defined benefit plans - funding (427) (499) (384)
Settlement of interest rate swaps (9) (101) 0
Other assets 42 (19) 9
Other liabilities (95) 53 23
Net cash provided by (used in) operating activities - continuing operations 2,890 2,272 2,941
Net cash provided by (used in) operating activities - discontinued operations 0 343 462
Net cash provided by (used in) operating activities 2,890 2,615 3,403
Cash Flows from Investing Activities      
Expenditures for property, plant and equipment (2,920) (3,533) (3,674)
Expenditures for intangible assets (37) (37) (49)
Purchases of other investments 0 0 (120)
Proceeds from the sale of other investments 2 136 0
Net decrease in restricted cash and cash equivalents 8 8 19
Other investing activities 29 (13) (2)
Net cash provided by (used in) investing activities - continuing operations (2,918) (3,439) (3,826)
Net cash provided by (used in) investing activities - discontinued operations 0 (149) 497
Net cash provided by (used in) investing activities (2,918) (3,588) (3,329)
Cash Flows from Financing Activities      
Issuance of long-term debt 1,342 2,236 296
Retirement of long-term debt (930) (1,000) (237)
Settlement of cross currency swaps 46 0 0
Issuance of common stock 144 203 1,074
Payment of common stock dividends (1,030) (1,004) (967)
Net increase (decrease) in short-term debt 29 94 147
Other financing activities (40) (47) (51)
Net cash provided by (used in) financing activities - continuing operations (439) 482 262
Net cash provided by (used in) financing activities - discontinued operations 0 (546) (846)
Net cash distributions to parent from discontinued operations 0 132 1,167
Net cash provided by (used in) financing activities (439) 68 583
Effect of Exchange Rates on Cash and Cash Equivalents (28) (10) (8)
Net (Increase) Decrease in Cash and Cash Equivalents included in Discontinued Operations 0 352 (113)
Net Increase (Decrease) in Cash and Cash Equivalents (495) (563) 536
Cash and Cash Equivalents at Beginning of Period 836 1,399 863
Cash and Cash Equivalents at End of Period 341 836 1,399
Supplemental Disclosures of Cash Flow Information:      
Interest - net of amount capitalized 854 822 959
Income taxes - net 70 179 190
Accrued expenditures for property, plant and equipment at December 31, 281 310 458
Accrued expenditures for intangible assets at December 31, 117 55 19
PPL Electric Utilities Corp [Member]      
Cash Flows from Operating Activities      
Net income [1] 340 252 263
Adjustments to reconcile income from continuing operations (net of taxes) to net cash provided by (used in) operating activities - continuing operations      
Depreciation 253 214 185
Amortization 32 26 19
Defined benefit plans - expense 11 16 15
Deferred income taxes and investment tax credits 221 220 87
Other (13) (12) (23)
Change in current assets and current liabilities      
Accounts receivable 16 50 (64)
Accounts payable 58 (107) 30
Unbilled revenues (23) 22 3
Prepayments 43 (1) 1
Taxes payable (12) (108) 75
Regulatory assets and liabilities (62) 35 5
Other (7) 21 10
Other operating activities      
Defined benefit plans - funding 0 (33) (23)
Other assets 19 (10) 19
Other liabilities (4) 17 11
Net cash provided by (used in) operating activities 872 602 613
Cash Flows from Investing Activities      
Expenditures for property, plant and equipment (1,125) (1,097) (931)
Expenditures for intangible assets (9) (10) (26)
Net decrease in notes receivable from affiliates 0 0 150
Other investing activities 4 (1) 16
Net cash provided by (used in) investing activities - continuing operations (1,130) (1,108) (791)
Cash Flows from Financing Activities      
Issuance of long-term debt 224 348 296
Retirement of long-term debt (224) (100) (10)
Contributions from PPL 220 275 263
Payment of common stock dividends to parent (288) (181) (158)
Net increase (decrease) in short-term debt 295 0 (20)
Other financing activities (3) (3) (4)
Net cash provided by (used in) financing activities - continuing operations 224 339 367
Net Increase (Decrease) in Cash and Cash Equivalents (34) (167) 189
Cash and Cash Equivalents at Beginning of Period 47 214 25
Cash and Cash Equivalents at End of Period 13 47 214
Supplemental Disclosures of Cash Flow Information:      
Interest - net of amount capitalized 115 117 110
Income taxes - net (48) 38 40
Accrued expenditures for property, plant and equipment at December 31, 126 98 95
LG And E And KU Energy LLC [Member]      
Cash Flows from Operating Activities      
Net income 429 364 344
Adjustments to reconcile income from continuing operations (net of taxes) to net cash provided by (used in) operating activities - continuing operations      
Depreciation 404 382 354
Amortization 29 27 25
Defined benefit plans - expense 27 38 25
Deferred income taxes and investment tax credits 291 236 449
Other 0 2 16
Change in current assets and current liabilities      
Accounts receivable (31) 24 (20)
Accounts payable 24 (58) 12
Accounts payable to affiliates 1 (2) (1)
Unbilled revenues (23) 20 13
Fuel, materials and supplies 2 6 (32)
Income tax receivable 1 135 (136)
Taxes payable (7) 10 (3)
Accrued interest 0 9 0
Other (6) 23 (1)
Other operating activities      
Defined benefit plans - funding (85) (70) (45)
Settlement of interest rate swaps (9) (88) 0
Expenditures for asset retirement obligations (26) (7) (5)
Other assets 2 (7) (7)
Other liabilities 4 19 11
Net cash provided by (used in) operating activities - continuing operations 1,027 1,063 999
Cash Flows from Investing Activities      
Expenditures for property, plant and equipment (791) (1,210) (1,262)
Net decrease in notes receivable from affiliates 0 0 70
Other investing activities 1 7 1
Net cash provided by (used in) investing activities - continuing operations (790) (1,203) (1,191)
Cash Flows from Financing Activities      
Issuance of long-term debt 221 1,050 0
Issuance of long-term debt with affiliates 0 400 0
Retirement of long-term debt (246) (900) 0
Contributions from member 61 125 248
Distributions to member (316) (219) (436)
Debt issuance and credit facility costs (3) (10) (5)
Net increase (decrease) in notes payable to affiliates 109 13 41
Net increase (decrease) in short-term debt (80) (310) 330
Net cash provided by (used in) financing activities - continuing operations (254) 149 178
Net Increase (Decrease) in Cash and Cash Equivalents (17) 9 (14)
Cash and Cash Equivalents at Beginning of Period 30 21 35
Cash and Cash Equivalents at End of Period 13 30 21
Supplemental Disclosures of Cash Flow Information:      
Interest - net of amount capitalized 198 163 157
Income taxes - net (24) (139) (75)
Accrued expenditures for property, plant and equipment at December 31, 104 150 286
Louisville Gas And Electric Co [Member]      
Cash Flows from Operating Activities      
Net income [2] 203 185 169
Adjustments to reconcile income from continuing operations (net of taxes) to net cash provided by (used in) operating activities - continuing operations      
Depreciation 170 162 157
Amortization 14 11 12
Defined benefit plans - expense 8 12 9
Deferred income taxes and investment tax credits 147 126 118
Other 0 8 2
Change in current assets and current liabilities      
Accounts receivable (22) 19 (12)
Accounts receivable from affiliates (16) 11 (23)
Accounts payable 31 (29) 25
Accounts payable to affiliates 1 5 (4)
Unbilled revenues (8) 9 9
Fuel, materials and supplies 8 3 (8)
Income tax receivable 4 70 (74)
Taxes payable 20 1 8
Accrued interest 0 5 0
Other (7) 17 0
Other operating activities      
Defined benefit plans - funding (46) (26) (13)
Settlement of interest rate swaps (9) (44) 0
Expenditures for asset retirement obligations (18) (6) (4)
Other assets 0 11 (2)
Other liabilities 2 4 2
Net cash provided by (used in) operating activities - continuing operations 482 554 371
Cash Flows from Investing Activities      
Expenditures for property, plant and equipment (439) (689) (656)
Net cash provided by (used in) investing activities - continuing operations (439) (689) (656)
Cash Flows from Financing Activities      
Issuance of long-term debt 125 550 0
Retirement of long-term debt (150) (250) 0
Contributions from PPL 71 90 157
Payment of common stock dividends to parent (128) (119) (112)
Debt issuance and credit facility costs (2) (5) (2)
Net increase (decrease) in short-term debt 27 (122) 244
Net cash provided by (used in) financing activities - continuing operations (57) 144 287
Net Increase (Decrease) in Cash and Cash Equivalents (14) 9 2
Cash and Cash Equivalents at Beginning of Period 19 10 8
Cash and Cash Equivalents at End of Period 5 19 10
Supplemental Disclosures of Cash Flow Information:      
Interest - net of amount capitalized 65 48 46
Income taxes - net (43) (81) 65
Accrued expenditures for property, plant and equipment at December 31, 56 97 162
Kentucky Utilities Co [Member]      
Cash Flows from Operating Activities      
Net income [3] 265 234 220
Adjustments to reconcile income from continuing operations (net of taxes) to net cash provided by (used in) operating activities - continuing operations      
Depreciation 234 220 197
Amortization 14 13 11
Defined benefit plans - expense 5 10 5
Deferred income taxes and investment tax credits 126 160 224
Other (1) (5) 13
Change in current assets and current liabilities      
Accounts receivable (8) 5 (9)
Accounts receivable from affiliates 1 (1) 0
Accounts payable (10) (32) (10)
Accounts payable to affiliates 15 (10) 22
Unbilled revenues (15) 11 4
Fuel, materials and supplies (6) 3 (25)
Income tax receivable 0 59 (60)
Taxes payable 25 6 (19)
Accrued interest 0 5 0
Other (3) 4 (5)
Other operating activities      
Defined benefit plans - funding (20) (21) (5)
Settlement of interest rate swaps 0 (44) 0
Expenditures for asset retirement obligations (8) (1) (1)
Other assets (6) (11) (4)
Other liabilities (2) 3 8
Net cash provided by (used in) operating activities - continuing operations 606 608 566
Cash Flows from Investing Activities      
Expenditures for property, plant and equipment (350) (519) (604)
Other investing activities 1 7 1
Net cash provided by (used in) investing activities - continuing operations (349) (512) (603)
Cash Flows from Financing Activities      
Issuance of long-term debt 96 500 0
Retirement of long-term debt (96) (250) 0
Contributions from PPL 20 0 91
Payment of common stock dividends to parent (248) (153) (148)
Debt issuance and credit facility costs (1) (5) (2)
Net increase (decrease) in short-term debt (32) (188) 86
Net cash provided by (used in) financing activities - continuing operations (261) (96) 27
Net Increase (Decrease) in Cash and Cash Equivalents (4) 0 (10)
Cash and Cash Equivalents at Beginning of Period 11 11 21
Cash and Cash Equivalents at End of Period 7 11 11
Supplemental Disclosures of Cash Flow Information:      
Interest - net of amount capitalized 89 75 73
Income taxes - net 13 (84) 0
Accrued expenditures for property, plant and equipment at December 31, $ 47 $ 53 $ 124
[1] Net income equals comprehensive income.
[2] Net income equals comprehensive income.
[3] Net income approximates comprehensive income.