v3.25.2
CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($)
shares in Thousands, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Operating Revenues        
Operating Revenues $ 2,025 $ 1,881 $ 4,529 $ 4,185
Operation        
Fuel 192 181 426 390
Energy purchases 388 275 947 795
Other operation and maintenance 614 623 1,212 1,249
Depreciation 324 319 646 635
Taxes, other than income 101 93 214 181
Total Operating Expenses 1,619 1,491 3,445 3,250
Operating Income 406 390 1,084 935
Other Income (Expense) - net 23 32 51 54
Interest Expense 199 182 389 361
Income Taxes 47 50 149 131
Income from continuing operations after income taxes     597  
Net Income (Loss) $ 183 $ 190 $ 597 $ 497
Net Income:        
Diluted (in dollars per share) $ 0.25 $ 0.26 $ 0.80 $ 0.67
Weighted-Average Shares of Common Stock Outstanding (in thousands)        
Basic (in shares) 739,276 737,748 738,986 737,630
Diluted (in shares) 742,541 739,563 741,972 739,191
Income from Continuing Operations Before Income Taxes $ 230 $ 240 $ 746 $ 628
Income (Loss) from Continuing Operations After Income Taxes, Basic $ 0.25 $ 0.26 $ 0.81 $ 0.67
Income (Loss) from Continuing Operations after income taxes, Diluted $ 0.25 $ 0.26 $ 0.80 $ 0.67
PPL Electric Utilities Corp [Member]        
Operating Revenues        
Operating Revenues $ 693 $ 673 $ 1,512 $ 1,443
Operation        
Energy purchases 169 153 398 367
Other operation and maintenance 159 154 321 335
Depreciation 100 100 202 199
Taxes, other than income 32 30 73 66
Total Operating Expenses 460 437 994 967
Operating Income 233 236 518 476
Other Income (Expense) - net 11 11 22 20
Interest Expense 62 61 122 123
Income Taxes 43 46 97 94
Net Income (Loss) [1] 139 150 323 299
Weighted-Average Shares of Common Stock Outstanding (in thousands)        
Income from Continuing Operations Before Income Taxes 182 196 420 393
PPL Electric Utilities Corp [Member] | Related Party        
Operation        
Interest Income from affiliate 0 10 2 20
Louisville Gas And Electric Co [Member]        
Operating Revenues        
Operating Revenues 378 366 883 842
Operation        
Fuel 75 67 157 153
Energy purchases 23 15 111 86
Energy purchases from affiliate 7 7 12 8
Other operation and maintenance 91 87 180 175
Depreciation 77 77 151 153
Taxes, other than income 13 12 26 25
Total Operating Expenses 286 265 637 600
Operating Income 92 101 246 242
Other Income (Expense) - net 5 4 8 6
Interest Expense 27 26 53 52
Income Taxes 14 17 40 41
Net Income (Loss) 56 [2] 62 161 [2] 155
Weighted-Average Shares of Common Stock Outstanding (in thousands)        
Income from Continuing Operations Before Income Taxes 70 79 201 196
Louisville Gas And Electric Co [Member] | Related Party        
Operating Revenues        
Retail and wholesale 5 3 10 19
Louisville Gas And Electric Co [Member] | Nonrelated Party        
Operating Revenues        
Retail and wholesale 373 363 873 823
Kentucky Utilities Co [Member]        
Operating Revenues        
Operating Revenues 472 464 1,036 989
Operation        
Fuel 117 115 269 238
Energy purchases 7 6 14 12
Energy purchases from affiliate 5 3 10 19
Other operation and maintenance 102 101 202 203
Depreciation 101 101 203 200
Taxes, other than income 13 12 25 24
Total Operating Expenses 345 338 723 696
Operating Income 127 126 313 293
Other Income (Expense) - net 5 4 10 6
Interest Expense     70 67
Income Taxes 19 19 50 46
Net Income (Loss) [3] 78 77 203 185
Weighted-Average Shares of Common Stock Outstanding (in thousands)        
Income from Continuing Operations Before Income Taxes 97 96 253 231
Kentucky Utilities Co [Member] | Related Party        
Operating Revenues        
Retail and wholesale 7 7 12 8
Operation        
Interest Expense 0 1 0 1
Kentucky Utilities Co [Member] | Nonrelated Party        
Operating Revenues        
Retail and wholesale 465 457 $ 1,024 $ 981
Operation        
Interest Expense $ 35 $ 33    
[1] Net income equals comprehensive income.
[2] Net income equals comprehensive income.
[3] Net income equals comprehensive income.