Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2018

Fair Value Disclosures [Abstract]

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

The assets and liabilities measured at fair value were:

	June 30, 2018								December 31, 2017
	Total		Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3
PPL
Assets
Cash and cash equivalents	$	852	$	852	$	—	$	—	$	485	$	485	$	—	$	—
Restricted cash and cash equivalents (a)	23		23		—		—		26		26		—		—
Special use funds (a)	65		65		—		—		—		—		—		—
Price risk management assets (b):
Foreign currency contracts	163		—		163		—		163		—		163		—
Cross-currency swaps	100		—		100		—		101		—		101		—
Total price risk management assets	263		—		263		—		264		—		264		—
Total assets	$	1,203	$	940	$	263	$	—	$	775	$	511	$	264	$	—
Liabilities
Price risk management liabilities (b):
Interest rate swaps	$	21	$	—	$	21	$	—	$	26	$	—	$	26	$	—
Foreign currency contracts	53		—		53		—		148		—		148		—
Total price risk management liabilities	$	74	$	—	$	74	$	—	$	174	$	—	$	174	$	—
PPL Electric
Assets
Cash and cash equivalents	$	489	$	489	$	—	$	—	$	49	$	49	$	—	$	—
Restricted cash and cash equivalents (a)	2		2		—		—		2		2		—		—
Total assets	$	491	$	491	$	—	$	—	$	51	$	51	$	—	$	—
LKE
Assets
Cash and cash equivalents	$	39	$	39	$	—	$	—	$	30	$	30	$	—	$	—
Total assets	$	39	$	39	$	—	$	—	$	30	$	30	$	—	$	—
Liabilities
Price risk management liabilities:
Interest rate swaps	$	21	$	—	$	21	$	—	$	26	$	—	$	26	$	—
Total price risk management liabilities	$	21	$	—	$	21	$	—	$	26	$	—	$	26	$	—
LG&E
Assets
Cash and cash equivalents	$	19	$	19	$	—	$	—	$	15	$	15	$	—	$	—
Total assets	$	19	$	19	$	—	$	—	$	15	$	15	$	—	$	—

	June 30, 2018								December 31, 2017
	Total		Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3
Liabilities
Price risk management liabilities:
Interest rate swaps	$	21	$	—	$	21	$	—	$	26	$	—	$	26	$	—
Total price risk management liabilities	$	21	$	—	$	21	$	—	$	26	$	—	$	26	$	—
KU
Assets
Cash and cash equivalents	$	20	$	20	$	—	$	—	$	15	$	15	$	—	$	—
Total assets	$	20	$	20	$	—	$	—	$	15	$	15	$	—	$	—

(a) Current portion is included in "Other current assets" and long-term portion is included in "Other noncurrent assets" on the Balance Sheets.

(b) 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 the Balance Sheets.

Fair Value, by Balance Sheet Grouping

The carrying amounts of long-term debt on the Balance Sheets and their estimated fair values are set forth below.

	June 30, 2018				December 31, 2017
	Carrying Amount (a)		Fair Value		Carrying Amount (a)		Fair Value
PPL	$	20,420	$	23,448	$	20,195	$	23,783
PPL Electric	3,693		3,950		3,298		3,769
LKE	5,510		5,801		5,159		5,670
LG&E	1,808		1,884		1,709		1,865
KU	2,329		2,480		2,328		2,605

(a) Amounts are net of debt issuance costs.