XML 52 R5.htm IDEA: XBRL DOCUMENT v3.21.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Cash Flows from Operating Activities    
Net income (loss) $ (1,840) $ 554
Loss (income) from discontinued operations (net of income taxes) 2,043 (350)
Income from continuing operations (net of income taxes) 203 204
Depreciation 267 250
Amortization 11 9
Defined benefit plans - (income) expense 4 9
Deferred income taxes and investment tax credits 50 75
Unrealized (gains) losses on derivatives, and other hedging activities 0 (4)
Stock-based compensation expense 6 6
Other (5) 1
Change in current assets and current liabilities    
Accounts receivable (60) 0
Accounts payable (42) (42)
Unbilled revenues 76 62
Fuel, materials and supplies 41 12
Prepayments (76) (75)
Regulatory assets and liabilities, net 29 (25)
Accrued interest 69 66
Other current liabilities (103) (132)
Other 2 22
Other operating activities    
Defined benefit plans - funding (33) (54)
Other assets (74) 42
Other liabilities 31 (13)
Net cash provided by operating activities - continuing operations 396 413
Net cash provided by operating activities - discontinued operations 267 279
Net cash provided by operating activities 663 692
Cash Flows from Investing Activities    
Expenditures for property, plant and equipment (471) (616)
Other investing activities (1) (3)
Net cash used in investing activities - continuing operations (472) (619)
Net cash used in investing activities - discontinued operations (263) (214)
Net cash used in investing activities (735) (833)
Cash Flows from Financing Activities    
Proceeds from project financing 5 0
Issuance of common stock 1 20
Payment of common stock dividends (320) (317)
Issuance of term loan 0 200
Retirement of term loan (300) 0
Retirement of commercial paper (73) 0
Net increase (decrease) in short-term debt 752 388
Other financing activities (10) (8)
Net cash provided by financing activities - continuing operations 55 283
Net cash used in financing activities - discontinued operations (126) (43)
Net cash provided by (used in) financing activities (71) 240
Effect of Exchange Rates on Cash, Cash Equivalents and Restricted Cash included in Discontinued Operations 8 1
Net (Increase) Decrease in Cash, Cash Equivalents and Restricted Cash included in Discontinued Operations 114 (23)
Net Increase (Decrease) in Cash, Cash Equivalents and Restricted Cash (21) 77
Cash and Cash Equivalents at Beginning of Period 442  
Cash, Cash Equivalents and Restricted Cash at Beginning of Period 443 660
Cash and Cash Equivalents at End of Period 421  
Cash, Cash Equivalents and Restricted Cash at End of Period 422 737
Supplemental Disclosures of Cash Flow Information    
Accrued expenditures for property, plant and equipment at March 31, 229 237
PPL Electric Utilities Corp [Member]    
Cash Flows from Operating Activities    
Net income (loss) [1] 113 118
Depreciation 108 98
Amortization 6 5
Defined benefit plans - (income) expense (3) (1)
Deferred income taxes and investment tax credits 13 32
Other (4) 9
Change in current assets and current liabilities    
Accounts receivable (37) (26)
Accounts payable (9) (20)
Unbilled revenues 37 34
Prepayments (78) (76)
Regulatory assets and liabilities, net 39 (11)
Other (14) (21)
Other operating activities    
Defined benefit plans - funding (21) (21)
Other assets (27) 4
Other liabilities (2) 8
Net cash provided by operating activities 121 132
Cash Flows from Investing Activities    
Expenditures for property, plant and equipment (223) (280)
Expenditures for intangible assets (1) (1)
Other investing activities 2 0
Net cash used in investing activities (222) (281)
Cash Flows from Financing Activities    
Payment of common stock dividends to parent (115) (165)
Net increase (decrease) in short-term debt 205 85
Net cash provided by (used in) financing activities 90 (80)
Net Increase (Decrease) in Cash, Cash Equivalents and Restricted Cash (11) (229)
Cash and Cash Equivalents at Beginning of Period 40  
Cash, Cash Equivalents and Restricted Cash at Beginning of Period 40 264
Cash and Cash Equivalents at End of Period 29  
Cash, Cash Equivalents and Restricted Cash at End of Period 29 35
Supplemental Disclosures of Cash Flow Information    
Accrued expenditures for property, plant and equipment at March 31, 143 158
LG And E And KU Energy LLC [Member]    
Cash Flows from Operating Activities    
Net income (loss) [2] 146 135
Depreciation 156 149
Amortization 4 4
Defined benefit plans - (income) expense 5 5
Deferred income taxes and investment tax credits 20 31
Change in current assets and current liabilities    
Accounts receivable 3 20
Accounts payable (4) (18)
Accounts payable to affiliates 9 1
Unbilled revenues 39 27
Fuel, materials and supplies 42 24
Regulatory assets and liabilities, net (10) (14)
Taxes payable (18) (27)
Accrued interest 45 51
Other (51) (37)
Other operating activities    
Defined benefit plans - funding (2) (23)
Expenditures for asset retirement obligations (15) (15)
Other assets 1 1
Other liabilities 6 6
Net cash provided by operating activities 376 320
Cash Flows from Investing Activities    
Expenditures for property, plant and equipment (238) (255)
Net cash used in investing activities (238) (255)
Cash Flows from Financing Activities    
Net increase in notes payable with affiliate (24) 92
Distributions to member (62) (52)
Retirement of commercial paper (73) 0
Net increase (decrease) in short-term debt 8 (85)
Net cash provided by (used in) financing activities (151) (45)
Cash and Cash Equivalents, Period Increase (Decrease) (13) 20
Cash and Cash Equivalents at Beginning of Period 29 27
Cash and Cash Equivalents at End of Period 16 47
Supplemental Disclosures of Cash Flow Information    
Accrued expenditures for property, plant and equipment at March 31, 86 78
Louisville Gas And Electric Co [Member]    
Cash Flows from Operating Activities    
Net income (loss) [3] 75 73
Depreciation 66 64
Amortization 2 2
Defined benefit plans - (income) expense 1 1
Deferred income taxes and investment tax credits (1) 1
Change in current assets and current liabilities    
Accounts receivable (1) 14
Accounts receivable from affiliates (3) (6)
Accounts payable 8 (12)
Accounts payable to affiliates (5) (4)
Unbilled revenues 19 11
Fuel, materials and supplies 28 27
Regulatory assets and liabilities, net (10) (2)
Taxes payable 4 2
Accrued interest 18 18
Other (17) (10)
Other operating activities    
Defined benefit plans - funding (1) (4)
Expenditures for asset retirement obligations (6) (4)
Other assets 0 (1)
Other liabilities 4 1
Net cash provided by operating activities 181 171
Cash Flows from Investing Activities    
Expenditures for property, plant and equipment (111) (117)
Net cash used in investing activities (111) (117)
Cash Flows from Financing Activities    
Net increase in notes payable with affiliate 0 21
Retirement of commercial paper (41) 0
Payment of common stock dividends to parent (60) (29)
Net increase (decrease) in short-term debt 31 (79)
Contributions from parent 0 25
Net cash provided by (used in) financing activities (70) (62)
Cash and Cash Equivalents, Period Increase (Decrease) 0 (8)
Cash and Cash Equivalents at Beginning of Period 7 15
Cash and Cash Equivalents at End of Period 7 7
Supplemental Disclosures of Cash Flow Information    
Accrued expenditures for property, plant and equipment at March 31, 46 39
Kentucky Utilities Co [Member]    
Cash Flows from Operating Activities    
Net income (loss) [4] 86 80
Depreciation 89 84
Amortization 2 3
Deferred income taxes and investment tax credits (2) 4
Change in current assets and current liabilities    
Accounts receivable 2 6
Accounts receivable from affiliates 1 0
Accounts payable (7) (2)
Accounts payable to affiliates 2 (3)
Unbilled revenues 20 16
Fuel, materials and supplies 15 (3)
Regulatory assets and liabilities, net 0 (12)
Taxes payable 13 6
Accrued interest 25 25
Other (17) (4)
Other operating activities    
Defined benefit plans - funding 0 (1)
Expenditures for asset retirement obligations (9) (11)
Other assets 0 3
Other liabilities 4 2
Net cash provided by operating activities 224 193
Cash Flows from Investing Activities    
Expenditures for property, plant and equipment (127) (138)
Net (increase) decrease in notes receivable from affiliate 0 (21)
Net cash used in investing activities (127) (159)
Cash Flows from Financing Activities    
Retirement of commercial paper (32) 0
Payment of common stock dividends to parent (56) (37)
Net increase (decrease) in short-term debt (23) (6)
Contributions from parent 0 37
Net cash provided by (used in) financing activities (111) (6)
Cash and Cash Equivalents, Period Increase (Decrease) (14) 28
Cash and Cash Equivalents at Beginning of Period 22 12
Cash and Cash Equivalents at End of Period 8 40
Supplemental Disclosures of Cash Flow Information    
Accrued expenditures for property, plant and equipment at March 31, $ 40 $ 39
[1] Net income equals comprehensive income.
[2] Net income approximates comprehensive income.
[3] Net income equals comprehensive income.
[4] Net income equals comprehensive income.