v3.25.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash Flows from Operating Activities    
Net income (loss) $ 597 $ 497
Income from continuing operations (net of income taxes) 597  
Depreciation 646 635
Amortization 49 47
Defined benefit plans - (income) expense (30) (35)
Deferred income taxes and investment tax credits 104 114
Other 3 10
Change in current assets and current liabilities    
Accounts receivable (91) 162
Accounts payable (167) (167)
Unbilled revenues 63 74
Fuel, materials and supplies 13 4
Prepayments (56) (107)
Taxes payable 40 (21)
Regulatory assets and liabilities, net 64 (74)
Accrued interest (5) 21
Other (52) (57)
Other operating activities    
Defined benefit plans - funding (7) (7)
Other assets (77) (60)
Other liabilities 21 12
Net cash provided by operating activities 1,115 1,048
Cash Flows from Investing Activities    
Expenditures for property, plant and equipment (1,723) (1,266)
Other investing activities 10 5
Net cash used in investing activities (1,713) (1,261)
Cash Flows from Financing Activities    
Issuance of long-term debt 0 1,148
Payment of common stock dividends (392) (367)
Net increase (decrease) in short-term debt 983 (603)
Other financing activities (14) (23)
Net cash provided by financing activities 577 155
Net Increase (Decrease) in Cash, Cash Equivalents and Restricted Cash (21) (58)
Cash and Cash Equivalents at Beginning of Period 306  
Cash, Cash Equivalents and Restricted Cash at Beginning of Period 339 382
Cash and Cash Equivalents at End of Period 294  
Cash, Cash Equivalents and Restricted Cash at End of Period 318 324
Supplemental Disclosures of Cash Flow Information    
Accrued expenditures for property, plant and equipment at June 30, 450 288
PPL Electric Utilities Corp [Member]    
Cash Flows from Operating Activities    
Net income (loss) [1] 323 299
Depreciation 202 199
Amortization 21 25
Defined benefit plans - (income) expense (15) (19)
Deferred income taxes and investment tax credits 48 60
Other (13) (9)
Change in current assets and current liabilities    
Accounts receivable (83) 12
Accounts payable (83) (33)
Unbilled revenues 17 40
Fuel, materials and supplies (10) (11)
Prepayments (38) (88)
Taxes payable (1) (41)
Regulatory assets and liabilities, net 46 (52)
Accrued interest 0 15
Other 0 (20)
Other operating activities    
Defined benefit plans - funding 0 (1)
Other assets (26) (19)
Other liabilities (6) (4)
Net cash provided by operating activities 382 353
Cash Flows from Investing Activities    
Expenditures for property, plant and equipment (697) (519)
Expenditures for intangible assets (4) (2)
Notes receivable from affiliates 222 (502)
Other investing activities 12 3
Net cash used in investing activities (467) (1,020)
Cash Flows from Financing Activities    
Issuance of long-term debt 0 649
Payment of common stock dividends to parent (207) (184)
Net increase (decrease) in short-term debt 384 (509)
Contributions from parent 0 680
Return of capital to parent (100) 0
Debt Issuance Costs (1) (7)
Net cash provided by financing activities 76 629
Net Increase (Decrease) in Cash, Cash Equivalents and Restricted Cash (9) (38)
Cash and Cash Equivalents at Beginning of Period 24  
Cash, Cash Equivalents and Restricted Cash at Beginning of Period 24 51
Cash and Cash Equivalents at End of Period 15  
Cash, Cash Equivalents and Restricted Cash at End of Period 15 13
Supplemental Disclosures of Cash Flow Information    
Accrued expenditures for property, plant and equipment at June 30, 201 161
Louisville Gas And Electric Co [Member]    
Cash Flows from Operating Activities    
Net income (loss) 161 [2] 155
Depreciation 151 153
Amortization 11 8
Deferred income taxes and investment tax credits 1 2
Other (3) (2)
Change in current assets and current liabilities    
Accounts receivable 19 (10)
Accounts receivable from affiliates 12 (10)
Accounts payable (8) 11
Increase (Decrease) in Accounts Payable, Related Parties 7 9
Unbilled revenues 3 6
Fuel, materials and supplies 15 2
Taxes payable (12) (14)
Regulatory assets and liabilities, net (17) (10)
Accrued interest (1) (1)
Other (12) (11)
Other operating activities    
Expenditures for asset retirement obligations (4) (6)
Other assets (43) (7)
Other liabilities (1) (2)
Net cash provided by operating activities 279 273
Cash Flows from Investing Activities    
Expenditures for property, plant and equipment (296) (207)
Notes receivable from affiliates (10) 0
Net cash used in investing activities (306) (207)
Cash Flows from Financing Activities    
Increase Decrease In Notes Payable To Affiliates (43) 19
Payment of common stock dividends to parent (111) (97)
Net increase (decrease) in short-term debt 133 10
Contributions from parent 101 37
Return of capital to parent (55) (51)
Debt Issuance Costs (1) 0
Net cash provided by financing activities 24 (82)
Net Increase (Decrease) in Cash, Cash Equivalents and Restricted Cash (3) (16)
Cash and Cash Equivalents at Beginning of Period 8  
Cash, Cash Equivalents and Restricted Cash at Beginning of Period 24 44
Cash and Cash Equivalents at End of Period 10  
Cash, Cash Equivalents and Restricted Cash at End of Period 21 28
Supplemental Disclosures of Cash Flow Information    
Accrued expenditures for property, plant and equipment at June 30, 74 55
Kentucky Utilities Co [Member]    
Cash Flows from Operating Activities    
Net income (loss) [3] 203 185
Depreciation 203 200
Amortization 8 9
Deferred income taxes and investment tax credits 4 (7)
Other (5) (5)
Change in current assets and current liabilities    
Accounts receivable 3 (19)
Accounts payable (5) (24)
Increase (Decrease) in Accounts Payable, Related Parties 6 23
Unbilled revenues (4) (10)
Fuel, materials and supplies (7) 15
Taxes payable (9) (6)
Regulatory assets and liabilities, net 2 13
Accrued interest (1) (1)
Other (23) (7)
Other operating activities    
Expenditures for asset retirement obligations (4) (4)
Other assets (18) 1
Other liabilities (2) (11)
Net cash provided by operating activities 351 352
Cash Flows from Investing Activities    
Expenditures for property, plant and equipment (391) (296)
Net cash used in investing activities (391) (296)
Cash Flows from Financing Activities    
Increase Decrease In Notes Payable To Affiliates (27) 13
Payment of common stock dividends to parent (128) (117)
Net increase (decrease) in short-term debt 135 7
Contributions from parent 91 84
Return of capital to parent (37) (50)
Debt Issuance Costs (1) 0
Net cash provided by financing activities 33 (63)
Net Increase (Decrease) in Cash, Cash Equivalents and Restricted Cash (7) (7)
Cash and Cash Equivalents at Beginning of Period 13  
Cash, Cash Equivalents and Restricted Cash at Beginning of Period 29 38
Cash and Cash Equivalents at End of Period 11  
Cash, Cash Equivalents and Restricted Cash at End of Period 22 31
Supplemental Disclosures of Cash Flow Information    
Accrued expenditures for property, plant and equipment at June 30, $ 100 $ 62
[1] Net income equals comprehensive income.
[2] Net income equals comprehensive income.
[3] Net income equals comprehensive income.