CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Millions |
9 Months Ended |
Sep. 30, 2019 |
Sep. 30, 2018 |
Cash Flows from Operating Activities |
|
|
|
Net Income |
|
$ 1,382
|
$ 1,412
|
Depreciation |
|
890
|
817
|
Amortization |
|
60
|
56
|
Defined benefit plans - (income) expense |
|
(198)
|
(146)
|
Deferred income taxes and investment tax credits |
|
257
|
255
|
Unrealized gains on derivatives, and other hedging activities |
|
(18)
|
(129)
|
Stock-based compensation expense |
|
24
|
21
|
Other |
|
(15)
|
(12)
|
Change in current assets and current liabilities |
|
|
|
Accounts receivable |
|
57
|
38
|
Accounts payable |
|
(116)
|
(55)
|
Unbilled revenues |
|
58
|
129
|
Fuel, materials and supplies |
|
9
|
25
|
Prepayments |
|
(53)
|
(38)
|
Regulatory assets and liabilities, net |
|
(62)
|
39
|
Accrued interest |
|
74
|
48
|
Other current liabilities |
|
(94)
|
(36)
|
Other |
|
(6)
|
(1)
|
Other operating activities |
|
|
|
Defined benefit plans - funding |
|
(281)
|
(284)
|
Proceeds from transfer of excess benefit plan funds |
|
0
|
65
|
Other assets |
|
(24)
|
(38)
|
Other liabilities |
|
(56)
|
44
|
Net cash provided by operating activities |
|
1,888
|
2,210
|
Cash Flows from Investing Activities |
|
|
|
Expenditures for property, plant and equipment |
|
(2,197)
|
(2,344)
|
Purchase of investments |
|
(55)
|
(65)
|
Proceeds from the sale of investments |
|
63
|
3
|
Other investing activities |
|
(5)
|
(60)
|
Net cash used in investing activities |
|
(2,194)
|
(2,466)
|
Cash Flows from Financing Activities |
|
|
|
Issuance of long-term debt |
|
1,465
|
602
|
Retirement of Long-term Debt |
|
(200)
|
(277)
|
Issuance of common stock |
|
49
|
678
|
Payment of common stock dividends |
|
(893)
|
(846)
|
Net increase (decrease) in short-term debt |
|
(34)
|
481
|
Other financing activities |
|
(24)
|
(20)
|
Net cash provided by (used in) financing activities |
|
363
|
618
|
Effect of Exchange Rates on Cash, Cash Equivalents and Restricted Cash |
|
(10)
|
(9)
|
Net Increase (Decrease) in Cash, Cash Equivalents and Restricted Cash |
|
47
|
353
|
Cash and Cash Equivalents at Beginning of Period |
|
621
|
|
Cash and Cash Equivalents at End of Period |
|
670
|
|
Cash, Cash Equivalents and Restricted Cash at Beginning of Period |
|
643
|
511
|
Cash, Cash Equivalents and Restricted Cash at End of Period |
|
690
|
864
|
Supplemental Disclosures of Cash Flow Information |
|
|
|
Accrued expenditures for property, plant and equipment at September 30, |
|
363
|
311
|
Accrued expenditures for intangible assets at September 30, |
|
67
|
70
|
PPL Electric Utilities Corp [Member] |
|
|
|
Cash Flows from Operating Activities |
|
|
|
Net Income |
[1] |
333
|
334
|
Depreciation |
|
290
|
262
|
Amortization |
|
18
|
17
|
Defined benefit plans - (income) expense |
|
0
|
2
|
Deferred income taxes and investment tax credits |
|
70
|
77
|
Other |
|
(14)
|
(13)
|
Change in current assets and current liabilities |
|
|
|
Accounts receivable |
|
34
|
22
|
Accounts payable |
|
(46)
|
(46)
|
Unbilled revenues |
|
28
|
45
|
Prepayments |
|
(36)
|
(25)
|
Regulatory assets and liabilities, net |
|
(42)
|
(25)
|
Taxes payable |
|
(4)
|
(1)
|
Other |
|
(20)
|
12
|
Other operating activities |
|
|
|
Defined benefit plans - funding |
|
(21)
|
(28)
|
Other assets |
|
11
|
(37)
|
Other liabilities |
|
8
|
54
|
Net cash provided by operating activities |
|
609
|
650
|
Cash Flows from Investing Activities |
|
|
|
Expenditures for property, plant and equipment |
|
(815)
|
(835)
|
Expenditures for intangible assets |
|
(4)
|
0
|
Net increase in notes receivable from affiliate |
|
(546)
|
0
|
Other investing activities |
|
4
|
(2)
|
Net cash used in investing activities |
|
(1,361)
|
(837)
|
Cash Flows from Financing Activities |
|
|
|
Issuance of long-term debt |
|
393
|
398
|
Payment of common stock dividends to parent |
|
(276)
|
(271)
|
Contributions from parent |
|
400
|
429
|
Other financing activities |
|
(5)
|
(4)
|
Net cash provided by (used in) financing activities |
|
512
|
552
|
Net Increase (Decrease) in Cash, Cash Equivalents and Restricted Cash |
|
(240)
|
365
|
Cash and Cash Equivalents at Beginning of Period |
|
267
|
|
Cash and Cash Equivalents at End of Period |
|
27
|
|
Cash, Cash Equivalents and Restricted Cash at Beginning of Period |
|
269
|
51
|
Cash, Cash Equivalents and Restricted Cash at End of Period |
|
29
|
416
|
Supplemental Disclosures of Cash Flow Information |
|
|
|
Accrued expenditures for property, plant and equipment at September 30, |
|
168
|
171
|
LG And E And KU Energy LLC [Member] |
|
|
|
Cash Flows from Operating Activities |
|
|
|
Net Income |
[2] |
388
|
358
|
Depreciation |
|
402
|
354
|
Amortization |
|
20
|
13
|
Defined benefit plans - (income) expense |
|
9
|
12
|
Deferred income taxes and investment tax credits |
|
78
|
71
|
Other |
|
(2)
|
(2)
|
Change in current assets and current liabilities |
|
|
|
Accounts receivable |
|
13
|
8
|
Accounts payable |
|
(34)
|
4
|
Accounts payable to affiliates |
|
6
|
7
|
Unbilled revenues |
|
5
|
54
|
Fuel, materials and supplies |
|
16
|
17
|
Regulatory assets and liabilities, net |
|
(19)
|
62
|
Taxes payable |
|
(7)
|
(11)
|
Accrued interest |
|
57
|
41
|
Other |
|
(31)
|
(36)
|
Other operating activities |
|
|
|
Defined benefit plans - funding |
|
(34)
|
(126)
|
Expenditures for asset retirement obligations |
|
(67)
|
(46)
|
Other assets |
|
(4)
|
(1)
|
Other liabilities |
|
17
|
8
|
Net cash provided by operating activities |
|
813
|
787
|
Cash Flows from Investing Activities |
|
|
|
Expenditures for property, plant and equipment |
|
(761)
|
(826)
|
Other investing activities |
|
0
|
1
|
Net cash used in investing activities |
|
(761)
|
(825)
|
Cash Flows from Financing Activities |
|
|
|
Net increase (decrease) in notes payable with affiliate |
|
16
|
(145)
|
Proceeds from Related Party Debt |
|
0
|
250
|
Issuance of long-term debt |
|
705
|
118
|
Retirement of Long-term Debt |
|
(200)
|
(27)
|
Acquisition of outstanding bonds |
|
(40)
|
0
|
Remarketing of reacquired bonds |
|
40
|
0
|
Distributions to member |
|
(206)
|
(217)
|
Proceeds from Contributions from Affiliates |
|
63
|
0
|
Net increase (decrease) in short-term debt |
|
(413)
|
60
|
Other financing activities |
|
(11)
|
(2)
|
Net cash provided by (used in) financing activities |
|
(46)
|
37
|
Cash and Cash Equivalents, Period Increase (Decrease) |
|
6
|
(1)
|
Cash and Cash Equivalents at Beginning of Period |
|
24
|
30
|
Cash and Cash Equivalents at End of Period |
|
30
|
29
|
Supplemental Disclosures of Cash Flow Information |
|
|
|
Accrued expenditures for property, plant and equipment at September 30, |
|
107
|
108
|
Louisville Gas And Electric Co [Member] |
|
|
|
Cash Flows from Operating Activities |
|
|
|
Net Income |
[3] |
188
|
188
|
Depreciation |
|
168
|
146
|
Amortization |
|
13
|
10
|
Deferred income taxes and investment tax credits |
|
45
|
46
|
Other |
|
2
|
2
|
Change in current assets and current liabilities |
|
|
|
Accounts receivable |
|
13
|
14
|
Accounts receivable from affiliates |
|
9
|
2
|
Accounts payable |
|
(10)
|
14
|
Accounts payable to affiliates |
|
(5)
|
(2)
|
Unbilled revenues |
|
4
|
30
|
Fuel, materials and supplies |
|
7
|
9
|
Regulatory assets and liabilities, net |
|
(5)
|
24
|
Accrued interest |
|
22
|
13
|
Other |
|
(15)
|
(10)
|
Other operating activities |
|
|
|
Defined benefit plans - funding |
|
(6)
|
(59)
|
Expenditures for asset retirement obligations |
|
(22)
|
(17)
|
Other assets |
|
(1)
|
0
|
Other liabilities |
|
10
|
0
|
Net cash provided by operating activities |
|
417
|
410
|
Cash Flows from Investing Activities |
|
|
|
Expenditures for property, plant and equipment |
|
(323)
|
(420)
|
Net cash used in investing activities |
|
(323)
|
(420)
|
Cash Flows from Financing Activities |
|
|
|
Issuance of long-term debt |
|
399
|
100
|
Retirement of Long-term Debt |
|
(200)
|
0
|
Acquisition of outstanding bonds |
|
(40)
|
0
|
Remarketing of reacquired bonds |
|
40
|
0
|
Payment of common stock dividends to parent |
|
(130)
|
(113)
|
Net increase (decrease) in short-term debt |
|
(180)
|
(23)
|
Contributions from parent |
|
25
|
43
|
Other financing activities |
|
(6)
|
(1)
|
Net cash provided by (used in) financing activities |
|
(92)
|
6
|
Cash and Cash Equivalents, Period Increase (Decrease) |
|
2
|
(4)
|
Cash and Cash Equivalents at Beginning of Period |
|
10
|
15
|
Cash and Cash Equivalents at End of Period |
|
12
|
11
|
Supplemental Disclosures of Cash Flow Information |
|
|
|
Accrued expenditures for property, plant and equipment at September 30, |
|
53
|
51
|
Kentucky Utilities Co [Member] |
|
|
|
Cash Flows from Operating Activities |
|
|
|
Net Income |
[4] |
237
|
225
|
Depreciation |
|
233
|
208
|
Amortization |
|
7
|
2
|
Deferred income taxes and investment tax credits |
|
44
|
37
|
Other |
|
(3)
|
(2)
|
Change in current assets and current liabilities |
|
|
|
Accounts payable |
|
(16)
|
(2)
|
Accounts payable to affiliates |
|
(14)
|
(8)
|
Unbilled revenues |
|
1
|
24
|
Fuel, materials and supplies |
|
9
|
8
|
Regulatory assets and liabilities, net |
|
(14)
|
38
|
Taxes payable |
|
5
|
11
|
Accrued interest |
|
28
|
21
|
Other |
|
(6)
|
(2)
|
Other operating activities |
|
|
|
Defined benefit plans - funding |
|
(3)
|
(53)
|
Expenditures for asset retirement obligations |
|
(45)
|
(29)
|
Other assets |
|
(2)
|
(1)
|
Other liabilities |
|
10
|
8
|
Net cash provided by operating activities |
|
471
|
485
|
Cash Flows from Investing Activities |
|
|
|
Expenditures for property, plant and equipment |
|
(436)
|
(405)
|
Other investing activities |
|
0
|
1
|
Net cash used in investing activities |
|
(436)
|
(404)
|
Cash Flows from Financing Activities |
|
|
|
Issuance of long-term debt |
|
306
|
18
|
Retirement of Long-term Debt |
|
0
|
(27)
|
Payment of common stock dividends to parent |
|
(167)
|
(196)
|
Net increase (decrease) in short-term debt |
|
(233)
|
83
|
Contributions from parent |
|
68
|
45
|
Other financing activities |
|
(5)
|
(1)
|
Net cash provided by (used in) financing activities |
|
(31)
|
(78)
|
Cash and Cash Equivalents, Period Increase (Decrease) |
|
4
|
3
|
Cash and Cash Equivalents at Beginning of Period |
|
14
|
15
|
Cash and Cash Equivalents at End of Period |
|
18
|
18
|
Supplemental Disclosures of Cash Flow Information |
|
|
|
Accrued expenditures for property, plant and equipment at September 30, |
|
$ 54
|
$ 57
|
|
|