v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($)
shares in Thousands, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Operating Revenues        
Operating Revenues $ 2,111 $ 2,025 $ 4,885 $ 4,529
Operation        
Fuel 195 192 469 426
Energy purchases 403 388 1,106 947
Other operation and maintenance 572 614 1,151 1,212
Depreciation 362 324 713 646
Taxes, other than income 104 101 226 214
Total Operating Expenses 1,636 1,619 3,665 3,445
Operating Income 475 406 1,220 1,084
Other Income (Expense) - net 43 23 82 51
Interest Expense 232 199 456 389
Income Taxes 56 47 164 149
Income from continuing operations after income taxes     682  
Net Income (Loss) $ 230 $ 183 $ 682 $ 597
Net Income:        
Diluted (in dollars per share) $ 0.30 $ 0.25 $ 0.90 $ 0.80
Weighted-Average Shares of Common Stock Outstanding (in thousands)        
Basic (in shares) 752,358 739,276 752,062 738,986
Diluted (in shares) 757,225 742,541 757,193 741,972
Income from Continuing Operations Before Income Taxes $ 286 $ 230 $ 846 $ 746
Income (Loss) from Continuing Operations After Income Taxes, Basic $ 0.31 $ 0.25 $ 0.91 $ 0.81
Income (Loss) from Continuing Operations after income taxes, Diluted $ 0.30 $ 0.25 $ 0.90 $ 0.80
PPL Electric Utilities Corp [Member]        
Operating Revenues        
Operating Revenues $ 744 $ 693 $ 1,715 $ 1,512
Operation        
Energy purchases 213 169 544 398
Other operation and maintenance 158 159 348 321
Depreciation 110 100 218 202
Taxes, other than income 36 32 84 73
Total Operating Expenses 517 460 1,194 994
Operating Income 227 233 521 518
Other Income (Expense) - net 14 11 26 22
Interest Expense 73 62 140 122
Income Taxes 37 43 93 97
Net Income (Loss) [1] 132 139 316 323
Weighted-Average Shares of Common Stock Outstanding (in thousands)        
Income from Continuing Operations Before Income Taxes 169 182 409 420
PPL Electric Utilities Corp [Member] | Related Party        
Operation        
Interest Income from affiliate 1 0 2 2
Louisville Gas And Electric Co [Member]        
Operating Revenues        
Operating Revenues 398 378 995 883
Operation        
Fuel 66 75 167 157
Energy purchases 20 23 139 111
Energy purchases from affiliate 12 7 18 12
Other operation and maintenance 97 91 180 180
Depreciation 87 77 170 151
Taxes, other than income 14 13 28 26
Total Operating Expenses 296 286 702 637
Operating Income 102 92 293 246
Other Income (Expense) - net 6 5 12 8
Interest Expense 32 27 64 53
Income Taxes 16 14 49 40
Net Income (Loss) 60 [2] 56 192 [2] 161 [2]
Weighted-Average Shares of Common Stock Outstanding (in thousands)        
Income from Continuing Operations Before Income Taxes 76 70 241 201
Louisville Gas And Electric Co [Member] | Related Party        
Operating Revenues        
Retail and wholesale 2 5 11 10
Louisville Gas And Electric Co [Member] | Nonrelated Party        
Operating Revenues        
Retail and wholesale 396 373 984 873
Kentucky Utilities Co [Member]        
Operating Revenues        
Operating Revenues 505 472 1,130 1,036
Operation        
Fuel 128 117 301 269
Energy purchases 7 7 13 14
Energy purchases from affiliate 2 5 11 10
Other operation and maintenance 108 102 209 202
Depreciation 114 101 224 203
Taxes, other than income 14 13 27 25
Total Operating Expenses 373 345 785 723
Operating Income 132 127 345 313
Other Income (Expense) - net 6 5 13 10
Interest Expense     80 70
Income Taxes 19 19 55 50
Net Income (Loss) [3] 79 78 223 203
Weighted-Average Shares of Common Stock Outstanding (in thousands)        
Income from Continuing Operations Before Income Taxes 98 97 278 253
Kentucky Utilities Co [Member] | Related Party        
Operating Revenues        
Retail and wholesale 12 7 18 12
Kentucky Utilities Co [Member] | Nonrelated Party        
Operating Revenues        
Retail and wholesale 493 465 $ 1,112 $ 1,024
Operation        
Interest Expense $ 40 $ 35    
[1] Net income equals comprehensive income.
[2] Net income equals comprehensive income.
[3] Net income equals comprehensive income.