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Retirement and Postemployment Benefits (Tables)
 12 Months Ended
Dec. 31, 2022
Defined Benefit Plan Disclosure [Line Items]  
Schedule Of Net Periodic Defined Benefit Costs (Credits)
The following table provides the components of net periodic defined benefit costs (credits) for PPL's pension and other postretirement benefit plans for the years ended December 31.
 Pension BenefitsOther Postretirement Benefits
 202220212020202220212020
Net periodic defined benefit costs (credits):      
Service cost$51 $56 $56 $7 $6 $6 
Interest cost144 121 146 20 16 19 
Expected return on plan assets(276)(255)(246)(28)(23)(21)
Amortization of:      
Prior service cost (credit)8 8 9 1 1 1 
Actuarial (gain) loss51 93 89 (5)(1)— 
Net periodic defined benefit costs (credits) prior to settlements and termination benefits(22)23 54 (5)(1)5 
Settlements (a)23 18 23 — — — 
Net periodic defined benefit costs (credits) $1 $41 $77 $(5)$(1)$5 
Other Changes in Plan Assets and Benefit Obligations Recognized in OCI and Regulatory Assets/Liabilities - Gross:
Net (loss)/gain allocated at acquisition$33 $— $— $(49)$— $— 
Settlement(23)(18)(23)— — — 
Net (gain) loss242 42 (221)— (53)(6)
Prior service cost (credit)— 3 1 — — 5 
Amortization of:      
Prior service (cost) credit(8)(8)(9)(1)(1)(1)
Actuarial gain (loss)(51)(93)(89)5 1 — 
Total recognized in OCI and regulatory assets/liabilities193 (74)(341)(45)(53)(2)
Total recognized in net periodic defined benefit costs, OCI and regulatory assets/liabilities$194 $(33)$(264)$(50)$(54)$3 
 
(a)Settlement charges incurred as a result of the amount of lump sum payment distributions, primarily from the LKE qualified pension plan. In accordance with existing regulatory accounting treatment, LG&E and KU have primarily maintained the settlement charge in regulatory assets to be amortized in accordance with existing regulatory practice. The portion of the settlement attributed to LKE's operations outside of the jurisdiction of the KPSC has been charged to expense.
Schedule of Amounts Recognized in Other Comprehensive Income and Regulatory Assets and Liabilities
For PPL's pension and postretirement benefits, the amounts recognized in OCI and regulatory assets/liabilities for the years ended December 31 were as follows:
 Pension BenefitsOther Postretirement Benefits
 202220212020202220212020
OCI$142 $(70)$(428)$13 $(42)$(12)
Regulatory assets/liabilities51 (4)87 (58)(11)10 
Total recognized in OCI and
regulatory assets/liabilities		$193 $(74)$(341)$(45)$(53)$(2)
Defined Benefit Plan Assumptions and Impact of One Point Change on Postretirement Plans
The following weighted-average assumptions were used in the valuation of the benefit obligations at December 31.
 Pension BenefitsOther Postretirement Benefits
 2022202120222021
PPL    
Discount rate5.80 %3.15 %5.81 %3.13 %
Rate of compensation increase3.77 %3.76 %3.78 %3.77 %
 
The following weighted-average assumptions were used to determine the net periodic defined benefit costs for the years ended December 31.
 Pension BenefitsOther Postretirement Benefits
 202220212020202220212020
PPL      
Discount rate 3.35 %2.92 %3.64 %3.54 %2.84 %3.60 %
Rate of compensation increase3.74 %3.76 %3.79 %2.84 %3.75 %3.76 %
Expected return on plan assets7.25 %7.25 %7.25 %6.52 %6.48 %6.44 %
 
(a)The expected long-term rates of return for pension and other postretirement benefits are based on management's projections using a best-estimate of expected returns, volatilities and correlations for each asset class. Each plan's specific current and expected asset allocations are also considered in developing a reasonable return assumption.
The following table provides the assumed health care cost trend rates for the years ended December 31:
 202220212020
PPL    
Health care cost trend rate assumed for next year   
– obligations6.50 %6.25 %6.50 %
– cost6.25 %6.50 %6.60 %
Rate to which the cost trend rate is assumed to decline (the ultimate trend rate)   
– obligations5.00 %5.00 %5.00 %
– cost5.00 %5.00 %5.00 %
Year that the rate reaches the ultimate trend rate   
– obligations202920272027
– cost 202720272024
Schedule of Funded Status of Defined Benefit Plans
The funded status of PPL's plans at December 31 was as follows:
 Pension BenefitsOther Postretirement Benefits
 2022202120222021
Change in Benefit Obligation    
Benefit Obligation, beginning of period$3,989 $4,251 $504 $573 
Service cost51 56 7 6 
Interest cost144 121 20 16 
Participant contributions— — 9 14 
Plan amendments— 2 — — 
Actuarial (gain) loss(1,026)(88)(114)(50)
Acquisition (a)553 — 163 — 
Settlements(111)(106)— — 
Gross benefits paid(267)(247)(55)(55)
Benefit Obligation, end of period3,333 3,989 534 504 
Change in Plan Assets    
Plan assets at fair value, beginning of period3,887 4,068 367 367 
Actual return on plan assets(992)125 (86)25 
Employer contributions9 47 19 18 
Participant contributions— — 7 11 
Acquisition (a)623 — 160 — 
Settlements(111)(106)— — 
Gross benefits paid(267)(247)(50)(54)
Plan assets at fair value, end of period3,149 3,887 417 367 
Funded Status, end of period$(184)$(102)$(117)$(137)
Amounts recognized in the Balance Sheets consist of:    
Noncurrent asset$33 $91 $9 $— 
Current liability(10)(10)(14)(15)
Noncurrent liability(207)(183)(112)(122)
Net amount recognized, end of period$(184)$(102)$(117)$(137)
Amounts recognized in AOCI and regulatory assets/liabilities (pre-tax) consist of:    
Prior service cost (credit)$14 $22 $11 $12 
Net actuarial (gain) loss827 626 (95)(51)
Total$841 $648 $(84)$(39)
Total accumulated benefit obligation
for defined benefit pension plans		$3,197 $3,786   
(a)Related to the pension and other postretirement plans assumed for the employees of Rhode Island Energy. See Note 9 for additional details on the acquisition of Narragansett Electric.

For PPL's pension and other postretirement benefit plans, the amounts recognized in AOCI and regulatory assets/liabilities at December 31 were as follows:
 Pension BenefitsOther Postretirement Benefits
 2022202120222021
AOCI$183 $239 $13 $(2)
Regulatory assets/liabilities658 409 (97)(37)
Total$841 $648 $(84)$(39)
Schedule of Projected or Accumulated Benefit Obligations In Excess of Plan Assets
The following tables provide information on pension plans where the projected benefit obligation (PBO) or accumulated benefit obligation (ABO) exceed the fair value of plan assets:
 PBO in excess of plan assets
 20222021
Projected benefit obligation$2,818 $193 
Fair value of plan assets2,601 — 
 ABO in excess of plan assets
 20222021
Accumulated benefit obligation$1,720 $177 
Fair value of plan assets1,581 — 
Schedules of Asset Allocation of U.S. Pension Trusts Assets
The asset allocation for the trust and the target allocation by portfolio at December 31 are as follows:
 Percentage of trust assets2022
20222021Target Asset
Allocation
Growth Portfolio55 %55 %55 %
Equity securities31 %32 % 
Debt securities (a)13 %13 % 
Alternative investments11 %10 % 
Immunizing Portfolio43 %43 %43 %
Debt securities (a)33 %35 % 
Derivatives (b)10 %8 % 
Liquidity Portfolio2 %2 %2 %
Total100 %100 %100 %
 
(a)Includes commingled debt funds, which PPL treats as debt securities for asset allocation purposes.
(b)Includes posted collateral to support derivative instruments subject to counterparty risk.
Schedule of Fair Value of Financial Assets for U.S. Pension Plan Assets
The fair value of net assets in the Master Trust by asset class and level within the fair value hierarchy was:
 December 31, 2022December 31, 2021
 Fair Value Measurements UsingFair Value Measurements Using
 TotalLevel 1Level 2Level 3TotalLevel 1Level 2Level 3
PPL Services Corporation Master Trust        
Cash and cash equivalents$306 $306 $— $— $266 $266 $— $— 
Equity securities:        
U.S. Equity34 34 — — 41 41 — — 
U.S. Equity fund measured at NAV (a)574 — — — 754 — — — 
International equity fund at NAV (a)403 — — — 511 — — — 
Commingled debt measured at NAV (a)526 — — — 677 — — — 
Debt securities:        
U.S. Treasury and U.S. government sponsored
agency		153 153 — — 281 280 1 — 
Corporate834 — 818 16 1,039 — 1,019 20 
Other14 — 14 — 14 — 14 — 
Alternative investments:        
Real estate measured at NAV (a)60 — — — 69 — — — 
Private equity measured at NAV (a)96 — — — 92 — — — 
Private credit partnerships measured at NAV (a)6 — — — 2 — — — 
Hedge funds measured at NAV (a)194 — — — 236 — — — 
Derivatives8 — 8 — 35 — 35 — 
PPL Services Corporation Master Trust assets, at
fair value		3,208 $493 $840 $16 4,017 $587 $1,069 $20 
Receivables and payables, net (b)67   25    
401(h) accounts restricted for other
postretirement benefit obligations		(126)   (155)   
Total PPL Services Corporation Master Trust
pension assets		$3,149    $3,887    
 
(a)In accordance with accounting guidance, certain investments that are measured at fair value using the net asset value per share (NAV), or its equivalent, have not been classified in the fair value hierarchy. The fair value amounts presented in the table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the statement of financial position.
(b)Receivables and payables, net represents amounts for investments sold/purchased but not yet settled along with interest and dividends earned but not yet received.
Reconciliation of U.S. Pension Trust Assets Classified as Level 3 Included in Earnings
A reconciliation of the Master Trust assets classified as Level 3 at December 31, 2022 is as follows:
Corporate
debt
Balance at beginning of period$20 
Actual return on plan assets: 
Relating to assets still held at the reporting date(2)
Relating to assets sold during the period2 
Purchases, sales and settlements(4)
Balance at end of period$16 
 
A reconciliation of the Master Trust assets classified as Level 3 at December 31, 2021 is as follows: 
Corporate
debt
Balance at beginning of period$15 
Purchases, sales and settlements5 
Balance at end of period$20 
Schedules of Target Allocation of U.S. Other Postretirement Benefit Plans VEBA Trust The asset allocation for the PPL VEBA trusts and the target allocation, by asset class, at December 31 are detailed below.
Percentage of plan assetsTarget Asset
Allocation
 202220212022
Asset Class   
Equity securities45 %45 %44 %
Debt securities (a)48 %52 %50 %
Cash and cash equivalents (b)7 %3 %6 %
Total100 %100 %100 %

(a)Includes commingled debt funds and debt securities.
(b)Includes money market funds.
Schedule of Fair Value of Financial Assets for U.S. Postretirement Benefits
The fair value of assets in the other postretirement benefit plans by asset class and level within the fair value hierarchy was:
 December 31, 2022December 31, 2021
 Fair Value Measurement UsingFair Value Measurement Using
 TotalLevel 1Level 2Level 3TotalLevel 1Level 2Level 3
Money market funds$19 $19 $— $— $6 $6 $— $— 
Equity securities:        
Large-cap equity fund measure at NAV (a)71 — — — 96 — — — 
Commingled debt fund measured at NAV (a)77 — — — 75 — — — 
Global equity exchange-traded fund61 61 — — — — — —
Long-term bond exchange-traded fund65 65 — — — — — —
Debt securities:        
Corporate bonds— — — — 38 — 38 — 
Total VEBA trust assets, at fair value293 $145 $— $— 215 $6 $38 $— 
Receivables and payables, net (b)(2)   (3)   
401(h) account assets126    155    
Total other postretirement benefit plan assets$417    $367    
 
(a)In accordance with accounting guidance certain investments that are measured at fair value using the net asset value per share (NAV), or its equivalent, have not been classified in the fair value hierarchy. The fair value amounts presented in the table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the statement of financial position.
(b)Receivables and payables represent amounts for investments sold/purchased but not yet settled along with interest and dividends earned but not yet received.
Schedule of Expected Cash Flows - U.S. Defined Benefit Plans - Expected Payments and Related Federal Subsidy
The following benefit payments, which reflect expected future service, as appropriate, are expected to be paid by the plans and the following federal subsidy payments are expected to be received by PPL.
  Other Postretirement
PensionBenefit
Payment		Expected
Federal
Subsidy
2023$282 $51 $— 
2024281 50 — 
2025283 49 — 
2026280 48 — 
2027275 48 — 
2028-20321,327 225 1 
Expected Employer Contributions to U.S. Savings Plans
Substantially, all employees of PPL's subsidiaries are eligible to participate in deferred savings plans (401(k)s). Employer contributions to the plans were:
 202220212020
PPL$36 $29 $29 
PPL Electric6 5 6 
LG&E7 7 6 
KU5 5 5 
LKE [Member]  
Defined Benefit Plan Disclosure [Line Items]  
Schedules of Asset Allocation of U.S. Pension Trusts Assets
The asset allocation for the trust and the target allocation by portfolio at December 31 are as follows:
 Percentage of trust assets2022
20222021Target Asset
Allocation
Growth Portfolio55 %55 %55 %
Equity securities31 %32 % 
Debt securities (a)13 %13 % 
Alternative investments11 %10 % 
Immunizing Portfolio43 %43 %43 %
Debt securities (a)33 %35 % 
Derivatives (b)10 %8 % 
Liquidity Portfolio2 %2 %2 %
Total100 %100 %100 %
 
(a)Includes commingled debt funds, which PPL treats as debt securities for asset allocation purposes.
(b)Includes posted collateral to support derivative instruments subject to counterparty risk.
Schedule of Fair Value of Financial Assets for U.S. Pension Plan Assets
The fair value of net assets in the Master Trust by asset class and level within the fair value hierarchy was:
 December 31, 2022December 31, 2021
 Fair Value Measurements UsingFair Value Measurements Using
 TotalLevel 1Level 2Level 3TotalLevel 1Level 2Level 3
PPL Services Corporation Master Trust        
Cash and cash equivalents$306 $306 $— $— $266 $266 $— $— 
Equity securities:        
U.S. Equity34 34 — — 41 41 — — 
U.S. Equity fund measured at NAV (a)574 — — — 754 — — — 
International equity fund at NAV (a)403 — — — 511 — — — 
Commingled debt measured at NAV (a)526 — — — 677 — — — 
Debt securities:        
U.S. Treasury and U.S. government sponsored
agency		153 153 — — 281 280 1 — 
Corporate834 — 818 16 1,039 — 1,019 20 
Other14 — 14 — 14 — 14 — 
Alternative investments:        
Real estate measured at NAV (a)60 — — — 69 — — — 
Private equity measured at NAV (a)96 — — — 92 — — — 
Private credit partnerships measured at NAV (a)6 — — — 2 — — — 
Hedge funds measured at NAV (a)194 — — — 236 — — — 
Derivatives8 — 8 — 35 — 35 — 
PPL Services Corporation Master Trust assets, at
fair value		3,208 $493 $840 $16 4,017 $587 $1,069 $20 
Receivables and payables, net (b)67   25    
401(h) accounts restricted for other
postretirement benefit obligations		(126)   (155)   
Total PPL Services Corporation Master Trust
pension assets		$3,149    $3,887    
 
(a)In accordance with accounting guidance, certain investments that are measured at fair value using the net asset value per share (NAV), or its equivalent, have not been classified in the fair value hierarchy. The fair value amounts presented in the table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the statement of financial position.
(b)Receivables and payables, net represents amounts for investments sold/purchased but not yet settled along with interest and dividends earned but not yet received.
Reconciliation of U.S. Pension Trust Assets Classified as Level 3 Included in Earnings
A reconciliation of the Master Trust assets classified as Level 3 at December 31, 2022 is as follows:
Corporate
debt
Balance at beginning of period$20 
Actual return on plan assets: 
Relating to assets still held at the reporting date(2)
Relating to assets sold during the period2 
Purchases, sales and settlements(4)
Balance at end of period$16 
 
A reconciliation of the Master Trust assets classified as Level 3 at December 31, 2021 is as follows: 
Corporate
debt
Balance at beginning of period$15 
Purchases, sales and settlements5 
Balance at end of period$20 
PPL Electric Utilities Corp [Member]  
Defined Benefit Plan Disclosure [Line Items]  
Schedule of Funded Status of Defined Benefit Plans Allocations to PPL Electric resulted in assets/(liabilities) at December 31 as follows:
 20222021
Pension$(34)$42 
Other postretirement benefits(60)(78)
Louisville Gas And Electric Co [Member]  
Defined Benefit Plan Disclosure [Line Items]  
Defined Benefit Plan Assumptions and Impact of One Point Change on Postretirement Plans
The following weighted-average assumptions were used in the valuation of the benefit obligations at December 31.
 Pension BenefitsOther Postretirement Benefits
 2022202120222021
PPL    
Discount rate5.80 %3.15 %5.81 %3.13 %
Rate of compensation increase3.77 %3.76 %3.78 %3.77 %
 
The following weighted-average assumptions were used to determine the net periodic defined benefit costs for the years ended December 31.
 Pension BenefitsOther Postretirement Benefits
 202220212020202220212020
PPL      
Discount rate 3.35 %2.92 %3.64 %3.54 %2.84 %3.60 %
Rate of compensation increase3.74 %3.76 %3.79 %2.84 %3.75 %3.76 %
Expected return on plan assets7.25 %7.25 %7.25 %6.52 %6.48 %6.44 %
 
(a)The expected long-term rates of return for pension and other postretirement benefits are based on management's projections using a best-estimate of expected returns, volatilities and correlations for each asset class. Each plan's specific current and expected asset allocations are also considered in developing a reasonable return assumption.
Schedule of Funded Status of Defined Benefit Plans Allocations to LG&E resulted in assets/(liabilities) at December 31 as follows:
20222021
Pension$41 $85 
Other postretirement benefits(41)(51)
Kentucky Utilities Co [Member]  
Defined Benefit Plan Disclosure [Line Items]  
Schedule of Funded Status of Defined Benefit Plans Allocations to KU resulted in assets/(liabilities) at December 31 as follows.
 20222021
Pension$44 $75 
Other postretirement benefits(9)(6)