v3.26.1
Revenue from Contracts with Customers
 6 Months Ended
Jun. 30, 2026
Revenue from Contract with Customer [Abstract]  
Revenue from Contracts with Customers
3. Revenue from Contracts with Customers

(All Registrants)

See Note 3 in the Registrants' 2025 Form 10-K for a discussion of the principal activities from which PPL Electric, LG&E and KU and PPL's Pennsylvania Regulated, Rhode Island Regulated and Kentucky Regulated segments generate their revenues. The following tables reconcile "Operating Revenues" included in each Registrant's Statement of Income with revenues generated from contracts with customers for the periods ended June 30.
2026 Three Months
PPL PPL ElectricLG&EKU
Operating Revenues (a)$2,111 $744 $398 $505 
   Revenues derived from:
Alternative revenue programs (b)31 24 2 (2)
Other (c)(4)(4)— — 
Revenues from Contracts with Customers$2,138 $764 $400 $503 
2025 Three Months
PPLPPL ElectricLG&EKU
Operating Revenues (a)$2,025 $693 $378 $472 
   Revenues derived from:
Alternative revenue programs (b)20 11 (1)(3)
Other (c)(5)(4)(1)— 
Revenues from Contracts with Customers$2,040 $700 $376 $469 
2026 Six Months
PPLPPL ElectricLG&EKU
Operating Revenues (a)$4,885 $1,715 $995 $1,130 
   Revenues derived from:
Alternative revenue programs (b)52 26 (1)(1)
Other (c)(15)(10)(2)(2)
Revenues from Contracts with Customers$4,922 $1,731 $992 $1,127 
2025 Six Months
PPLPPL ElectricLG&EKU
Operating Revenues (a)$4,529 $1,512 $883 $1,036 
   Revenues derived from:
Alternative revenue programs (b)70 9 1 1 
Other (c)(13)(9)(2)(2)
Revenues from Contracts with Customers$4,586 $1,512 $882 $1,035 

(a)PPL includes $479 million and $1,075 million for the three and six months ended June 30, 2026 and $494 million and $1,120 million for the three and six months ended June 30, 2025 of revenues from external customers reported by the Rhode Island Regulated segment. PPL Electric represents revenues from external customers reported by the Pennsylvania Regulated segment and LG&E and KU, net of intercompany power sales and transmission revenues, represent revenues from external customers reported by the Kentucky Regulated segment. See Note 2 for additional information.
(b)This line item shows the over/under collection of rate mechanisms deemed alternative revenue programs with over-collections of revenue shown as positive amounts in the table above and under-collections shown as negative amounts.
(c)Represents additional revenues outside the scope of revenues from contracts with customers, such as lease and other miscellaneous revenues.
The following tables show revenues from contracts with customers disaggregated by customer class for the periods ended June 30.

Three Months
ResidentialCommercialIndustrialOther (a)Wholesale - municipalityWholesale - other (b)TransmissionRevenues from Contracts with Customers
PPL
2026
PA Regulated$363 $116 $13 $20 $— $— $252 $764 
KY Regulated350 270 166 79 4 18 — 887 
RI Regulated223 158 23 28 — — 55 487 
Total PPL$936 $544 $202 $127 $4 $18 $307 $2,138 
2025
PA Regulated$345 $106 $13 $13 $— $— $223 $700 
KY Regulated328 247 158 71 5 24 — 833 
RI Regulated214 160 20 62 — — 51 507 
Total PPL$887 $513 $191 $146 $5 $24 $274 $2,040 
PPL Electric
2026$363 $116 $13 $20 $— $— $252 $764 
2025$345 $106 $13 $13 $— $— $223 $700 
LG&E
2026$181 $134 $49 $31 $— $5 $— $400 
2025$167 $122 $48 $28 $— $11 $— $376 
KU
2026$169 $136 $117 $49 $4 $28 $— $503 
2025$161 $125 $110 $43 $5 $25 $— $469 
Six Months
ResidentialCommercialIndustrialOther (a)Wholesale - municipalityWholesale - other (b)TransmissionRevenues from Contracts with Customers
PPL
2026
PA Regulated$925 $246 $29 $32 $— $— $499 $1,731 
KY Regulated903 583 337 191 11 63 — 2,088 
RI Regulated585 347 42 19 — — 110 1,103 
Total PPL$2,413 $1,176 $408 $242 $11 $63 $609 $4,922 
2025
PA Regulated$802 $212 $26 $26 $— $— $446 $1,512 
KY Regulated815 527 312 167 12 62 — 1,895 
RI Regulated655 357 38 28 — — 101 1,179 
Total PPL$2,272 $1,096 $376 $221 $12 $62 $547 $4,586 
PPL Electric
2026$925 $246 $29 $32 $— $— $499 $1,731 
2025$802 $212 $26 $26 $— $— $446 $1,512 
LG&E
2026$457 $299 $99 $100 $— $37 $— $992 
2025$406 $269 $94 $82 $— $31 $— $882 
KU
2026$446 $284 $238 $92 $11 $56 $— $1,127 
2025$409 $258 $218 $85 $12 $53 $— $1,035 

(a)Primarily includes revenues from pole attachments, street lighting, other public authorities and other non-core businesses, and for Rhode Island Regulated Segment certain regulatory deferral mechanisms which could result in a reduction in revenues from over collections. The Rhode Island Regulated segment primarily includes open access tariff revenues, which are calculated on combined customer classes.
(b)Includes wholesale power and transmission revenues. LG&E and KU amounts include intercompany power sales and transmission revenues, which are eliminated upon consolidation at the Kentucky Regulated segment.

As discussed in Note 2, PPL segments its business by geographic location. Revenues from external customers for each segment are reconciled to revenues from contracts with customers in the footnotes to the tables above.

Contract receivables from customers are primarily included in "Accounts receivable - Customer", "Unbilled revenues", and "Other noncurrent assets" on the Balance Sheets.

The following table shows the accounts receivable and unbilled revenues balances that were impaired for the periods ended June 30.
Three MonthsSix Months
2026202520262025
PPL$3 $14 $39 $42 
PPL Electric2 2 10 9 
LG&E— — 1 2 
KU(2)1 2 2 

Contract liabilities result from recording contractual billings in advance for customer attachments to the Registrants' infrastructure and payments received in excess of revenues earned to date. Advanced billings for customer attachments are generally recognized as revenue ratably over the quarterly billing period. Payments received in excess of revenues earned to date are recognized as revenue as services are delivered in subsequent periods. The Registrants' contract liabilities were not material at June 30, 2026 and 2025.