LG&E & KU Energy LLC
CIK:0001518339|SEC Filings
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 | ||||||||
| ||||||||||
CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Millions |
Mar. 31, 2021 |
Dec. 31, 2020 |
||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Assets, Current [Abstract] | ||||||||||
| Cash and cash equivalents | $ 421 | $ 442 | ||||||||
| Accounts receivable (less reserve:) | ||||||||||
| Customer | 634 | 603 | ||||||||
| Other | 77 | 86 | ||||||||
| Unbilled revenues | 225 | 301 | ||||||||
| Fuel, materials and supplies | 260 | 302 | ||||||||
| Prepayments | 132 | 53 | ||||||||
| Regulatory assets | 121 | 99 | ||||||||
| Other current assets | 32 | 31 | ||||||||
| Current assets held for sale | 18,425 | 18,983 | ||||||||
| Total Current Assets | 20,327 | 20,900 | ||||||||
| Property, Plant and Equipment | ||||||||||
| Regulated utility plant | 29,354 | 29,040 | ||||||||
| Less: accumulated depreciation - regulated utility plant | 6,156 | 6,008 | ||||||||
| Regulated utility plant, net | 23,198 | 23,032 | ||||||||
| Non-regulated property, plant and equipment | 245 | 237 | ||||||||
| Less: accumulated depreciation - non-regulated property, plant and equipment | 38 | 37 | ||||||||
| Non-regulated property, plant and equipment, net | 207 | 200 | ||||||||
| Construction work in progress | 1,292 | 1,268 | ||||||||
| Property, Plant and Equipment, net | 24,697 | 24,500 | ||||||||
| Other Noncurrent Assets | ||||||||||
| Regulatory assets | 1,233 | 1,262 | ||||||||
| Goodwill | 716 | 716 | ||||||||
| Other intangibles | 348 | 351 | ||||||||
| Pension benefit asset | 67 | 24 | ||||||||
| Other noncurrent assets | 393 | 363 | ||||||||
| Total Other Noncurrent Assets | 2,757 | 2,716 | ||||||||
| Total Assets | 47,781 | 48,116 | ||||||||
| Current Liabilities | ||||||||||
| Short-term debt | 1,547 | 1,168 | ||||||||
| Long-term debt due within one year | 976 | 1,074 | ||||||||
| Accounts payable | 660 | 745 | ||||||||
| Taxes | 45 | 69 | ||||||||
| Interest | 182 | 113 | ||||||||
| Dividends | 320 | 319 | ||||||||
| Regulatory liabilities | 130 | 79 | ||||||||
| Other current liabilities | 387 | 465 | ||||||||
| Current liabilities held for sale | 11,376 | 11,023 | ||||||||
| Total Current Liabilities | 15,623 | 15,055 | ||||||||
| Long-term Debt | ||||||||||
| Long-term Debt | 13,715 | 13,615 | ||||||||
| Deferred Credits and Other Noncurrent Liabilities | ||||||||||
| Deferred income taxes | 3,370 | 2,536 | ||||||||
| Investment tax credits | 121 | 122 | ||||||||
| Accrued pension obligations | 183 | 189 | ||||||||
| Asset retirement obligations | 130 | 132 | ||||||||
| Regulatory liabilities | 2,526 | 2,530 | ||||||||
| Other deferred credits and noncurrent liabilities | 559 | 564 | ||||||||
| Total Deferred Credits and Other Noncurrent Liabilities | 6,889 | 6,073 | ||||||||
| Commitments and Contingent Liabilities | ||||||||||
| Equity | ||||||||||
| Common stock | [1] | 8 | 8 | |||||||
| Additional paid-in capital | 12,273 | 12,270 | ||||||||
| Earnings reinvested | 3,155 | 5,315 | ||||||||
| Accumulated other comprehensive loss | (3,882) | (4,220) | ||||||||
| Total Equity | 11,554 | 13,373 | ||||||||
| Total Liabilities and Equity | 47,781 | 48,116 | ||||||||
| PPL Electric Utilities Corp [Member] | ||||||||||
| Assets, Current [Abstract] | ||||||||||
| Cash and cash equivalents | 29 | 40 | ||||||||
| Accounts receivable (less reserve:) | ||||||||||
| Customer | 346 | 311 | ||||||||
| Other | 19 | 17 | ||||||||
| Accounts receivable from affiliates | 10 | 10 | ||||||||
| Unbilled revenues | 84 | 121 | ||||||||
| Fuel, materials and supplies | 59 | 59 | ||||||||
| Prepayments | 87 | 9 | ||||||||
| Regulatory assets | 47 | 40 | ||||||||
| Other current assets | 15 | 13 | ||||||||
| Total Current Assets | 696 | 620 | ||||||||
| Property, Plant and Equipment | ||||||||||
| Regulated utility plant | 13,680 | 13,514 | ||||||||
| Less: accumulated depreciation - regulated utility plant | 3,348 | 3,297 | ||||||||
| Regulated utility plant, net | 10,332 | 10,217 | ||||||||
| Construction work in progress | 588 | 592 | ||||||||
| Property, Plant and Equipment, net | 10,920 | 10,809 | ||||||||
| Other Noncurrent Assets | ||||||||||
| Regulatory assets | 525 | 541 | ||||||||
| Other intangibles | 268 | 268 | ||||||||
| Pension benefit asset | 42 | 12 | ||||||||
| Other noncurrent assets | 103 | 74 | ||||||||
| Total Other Noncurrent Assets | 938 | 895 | ||||||||
| Total Assets | 12,554 | 12,324 | ||||||||
| Current Liabilities | ||||||||||
| Short-term debt | 205 | 0 | ||||||||
| Long-term debt due within one year | 400 | 400 | ||||||||
| Accounts payable | 375 | 428 | ||||||||
| Accounts payable to affiliates | 71 | 39 | ||||||||
| Taxes | 10 | 17 | ||||||||
| Interest | 45 | 39 | ||||||||
| Regulatory liabilities | 114 | 68 | ||||||||
| Other current liabilities | 94 | 105 | ||||||||
| Total Current Liabilities | 1,314 | 1,096 | ||||||||
| Long-term Debt | ||||||||||
| Long-term Debt | 3,837 | 3,836 | ||||||||
| Deferred Credits and Other Noncurrent Liabilities | ||||||||||
| Deferred income taxes | 1,579 | 1,559 | ||||||||
| Accrued pension obligations | 8 | 8 | ||||||||
| Regulatory liabilities | 573 | 578 | ||||||||
| Other deferred credits and noncurrent liabilities | 121 | 123 | ||||||||
| Total Deferred Credits and Other Noncurrent Liabilities | 2,281 | 2,268 | ||||||||
| Commitments and Contingent Liabilities | ||||||||||
| Equity | ||||||||||
| Common stock | [2] | 364 | 364 | |||||||
| Additional paid-in capital | 3,753 | 3,753 | ||||||||
| Earnings reinvested | 1,005 | 1,007 | ||||||||
| Total Equity | 5,122 | 5,124 | ||||||||
| Total Liabilities and Equity | 12,554 | 12,324 | ||||||||
| LG And E And KU Energy LLC [Member] | ||||||||||
| Assets, Current [Abstract] | ||||||||||
| Cash and cash equivalents | 16 | 29 | ||||||||
| Accounts receivable (less reserve:) | ||||||||||
| Customer | 282 | 283 | ||||||||
| Other | 52 | 69 | ||||||||
| Unbilled revenues | 137 | 176 | ||||||||
| Fuel, materials and supplies | 200 | 242 | ||||||||
| Prepayments | 27 | 30 | ||||||||
| Regulatory assets | 74 | 59 | ||||||||
| Other current assets | 1 | 4 | ||||||||
| Total Current Assets | 789 | 892 | ||||||||
| Property, Plant and Equipment | ||||||||||
| Regulated utility plant | 15,706 | 15,557 | ||||||||
| Less: accumulated depreciation - regulated utility plant | 2,816 | 2,717 | ||||||||
| Regulated utility plant, net | 12,890 | 12,840 | ||||||||
| Construction work in progress | 669 | 640 | ||||||||
| Property, Plant and Equipment, net | 13,559 | 13,480 | ||||||||
| Other Noncurrent Assets | ||||||||||
| Regulatory assets | 708 | 721 | ||||||||
| Goodwill | 996 | 996 | ||||||||
| Other intangibles | 59 | 61 | ||||||||
| Other noncurrent assets | 127 | 127 | ||||||||
| Total Other Noncurrent Assets | 1,890 | 1,905 | ||||||||
| Total Assets | 16,238 | 16,277 | ||||||||
| Current Liabilities | ||||||||||
| Short-term debt | 400 | 465 | ||||||||
| Long-term debt due within one year | 476 | 674 | ||||||||
| Notes payable with affiliates | 227 | 251 | ||||||||
| Accounts payable | 261 | 294 | ||||||||
| Accounts payable to affiliates | 25 | 16 | ||||||||
| Taxes | 53 | 71 | ||||||||
| Price risk management liabilities | 1 | 2 | ||||||||
| Interest | 82 | 37 | ||||||||
| Current Customer Deposits | 64 | 64 | ||||||||
| Regulatory liabilities | 16 | 11 | ||||||||
| Asset retirement obligations | 41 | 50 | ||||||||
| Other current liabilities | 108 | 162 | ||||||||
| Total Current Liabilities | 1,754 | 2,097 | ||||||||
| Long-term Debt | ||||||||||
| Long-term debt | 4,399 | 4,200 | ||||||||
| Long-term debt to affiliate | 1,200 | 1,200 | ||||||||
| Long-term Debt | 5,599 | 5,400 | ||||||||
| Deferred Credits and Other Noncurrent Liabilities | ||||||||||
| Deferred income taxes | 1,208 | 1,175 | ||||||||
| Investment tax credits | 121 | 121 | ||||||||
| Accrued pension obligations | 106 | 112 | ||||||||
| Asset retirement obligations | 130 | 132 | ||||||||
| Regulatory liabilities | 1,953 | 1,952 | ||||||||
| Price risk management liabilities | 16 | 21 | ||||||||
| Other deferred credits and noncurrent liabilities | 148 | 151 | ||||||||
| Total Deferred Credits and Other Noncurrent Liabilities | 3,682 | 3,664 | ||||||||
| Commitments and Contingent Liabilities | ||||||||||
| Equity | ||||||||||
| Member's Equity | 5,203 | 5,116 | ||||||||
| Total Liabilities and Equity | 16,238 | 16,277 | ||||||||
| Louisville Gas And Electric Co [Member] | ||||||||||
| Assets, Current [Abstract] | ||||||||||
| Cash and cash equivalents | 7 | 7 | ||||||||
| Accounts receivable (less reserve:) | ||||||||||
| Customer | 129 | 127 | ||||||||
| Other | 25 | 35 | ||||||||
| Accounts receivable from affiliates | 19 | 16 | ||||||||
| Unbilled revenues | 60 | 79 | ||||||||
| Fuel, materials and supplies | 91 | 119 | ||||||||
| Prepayments | 13 | 14 | ||||||||
| Regulatory assets | 36 | 23 | ||||||||
| Other current assets | 1 | 1 | ||||||||
| Total Current Assets | 381 | 421 | ||||||||
| Property, Plant and Equipment | ||||||||||
| Regulated utility plant | 6,805 | 6,735 | ||||||||
| Less: accumulated depreciation - regulated utility plant | 1,056 | 1,020 | ||||||||
| Regulated utility plant, net | 5,749 | 5,715 | ||||||||
| Construction work in progress | 319 | 320 | ||||||||
| Property, Plant and Equipment, net | 6,068 | 6,035 | ||||||||
| Other Noncurrent Assets | ||||||||||
| Regulatory assets | 339 | 351 | ||||||||
| Goodwill | 389 | 389 | ||||||||
| Other intangibles | 34 | 35 | ||||||||
| Other noncurrent assets | 117 | 114 | ||||||||
| Total Other Noncurrent Assets | 879 | 889 | ||||||||
| Total Assets | 7,328 | 7,345 | ||||||||
| Current Liabilities | ||||||||||
| Short-term debt | 252 | 262 | ||||||||
| Long-term debt due within one year | 94 | 292 | ||||||||
| Accounts payable | 137 | 153 | ||||||||
| Accounts payable to affiliates | 27 | 31 | ||||||||
| Taxes | 36 | 32 | ||||||||
| Price risk management liabilities | 1 | 2 | ||||||||
| Interest | 33 | 15 | ||||||||
| Current Customer Deposits | 31 | 32 | ||||||||
| Regulatory liabilities | 3 | 0 | ||||||||
| Asset retirement obligations | 14 | 10 | ||||||||
| Other current liabilities | 33 | 50 | ||||||||
| Total Current Liabilities | 661 | 879 | ||||||||
| Long-term Debt | ||||||||||
| Long-term Debt | 1,913 | 1,715 | ||||||||
| Deferred Credits and Other Noncurrent Liabilities | ||||||||||
| Deferred income taxes | 719 | 716 | ||||||||
| Investment tax credits | 33 | 33 | ||||||||
| Asset retirement obligations | 48 | 57 | ||||||||
| Regulatory liabilities | 881 | 882 | ||||||||
| Price risk management liabilities | 16 | 21 | ||||||||
| Other deferred credits and noncurrent liabilities | 94 | 94 | ||||||||
| Total Deferred Credits and Other Noncurrent Liabilities | 1,791 | 1,803 | ||||||||
| Commitments and Contingent Liabilities | ||||||||||
| Equity | ||||||||||
| Common stock | [3] | 424 | 424 | |||||||
| Additional paid-in capital | 1,923 | 1,923 | ||||||||
| Earnings reinvested | 616 | 601 | ||||||||
| Total Equity | 2,963 | 2,948 | ||||||||
| Total Liabilities and Equity | 7,328 | 7,345 | ||||||||
| Kentucky Utilities Co [Member] | ||||||||||
| Assets, Current [Abstract] | ||||||||||
| Cash and cash equivalents | 8 | 22 | ||||||||
| Accounts receivable (less reserve:) | ||||||||||
| Customer | 153 | 156 | ||||||||
| Other | 25 | 30 | ||||||||
| Accounts receivable from affiliates | 0 | 1 | ||||||||
| Unbilled revenues | 77 | 97 | ||||||||
| Fuel, materials and supplies | 109 | 123 | ||||||||
| Prepayments | 13 | 15 | ||||||||
| Regulatory assets | 38 | 36 | ||||||||
| Other current assets | 0 | 1 | ||||||||
| Total Current Assets | 423 | 481 | ||||||||
| Property, Plant and Equipment | ||||||||||
| Regulated utility plant | 8,886 | 8,808 | ||||||||
| Less: accumulated depreciation - regulated utility plant | 1,753 | 1,690 | ||||||||
| Regulated utility plant, net | 7,133 | 7,118 | ||||||||
| Construction work in progress | 350 | 321 | ||||||||
| Property, Plant and Equipment, net | 7,483 | 7,439 | ||||||||
| Other Noncurrent Assets | ||||||||||
| Regulatory assets | 369 | 370 | ||||||||
| Goodwill | 607 | 607 | ||||||||
| Other intangibles | 25 | 26 | ||||||||
| Other noncurrent assets | 153 | 149 | ||||||||
| Total Other Noncurrent Assets | 1,154 | 1,152 | ||||||||
| Total Assets | 9,060 | 9,072 | ||||||||
| Current Liabilities | ||||||||||
| Short-term debt | 148 | 203 | ||||||||
| Long-term debt due within one year | 132 | 132 | ||||||||
| Accounts payable | 109 | 121 | ||||||||
| Accounts payable to affiliates | 46 | 43 | ||||||||
| Taxes | 42 | 29 | ||||||||
| Interest | 44 | 19 | ||||||||
| Current Customer Deposits | 33 | 32 | ||||||||
| Regulatory liabilities | 13 | 11 | ||||||||
| Asset retirement obligations | 27 | 40 | ||||||||
| Other current liabilities | 40 | 59 | ||||||||
| Total Current Liabilities | 634 | 689 | ||||||||
| Long-term Debt | ||||||||||
| Long-term Debt | 2,486 | 2,486 | ||||||||
| Deferred Credits and Other Noncurrent Liabilities | ||||||||||
| Deferred income taxes | 839 | 835 | ||||||||
| Investment tax credits | 88 | 88 | ||||||||
| Asset retirement obligations | 82 | 75 | ||||||||
| Regulatory liabilities | 1,072 | 1,070 | ||||||||
| Other deferred credits and noncurrent liabilities | 47 | 47 | ||||||||
| Total Deferred Credits and Other Noncurrent Liabilities | 2,128 | 2,115 | ||||||||
| Commitments and Contingent Liabilities | ||||||||||
| Equity | ||||||||||
| Common stock | [4] | 308 | 308 | |||||||
| Additional paid-in capital | 2,857 | 2,857 | ||||||||
| Earnings reinvested | 647 | 617 | ||||||||
| Total Equity | 3,812 | 3,782 | ||||||||
| Total Liabilities and Equity | $ 9,060 | $ 9,072 | ||||||||
| ||||||||||