v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash Flows from Operating Activities    
Net income (loss) $ 682 $ 597
Income from continuing operations (net of income taxes) 682  
Depreciation 713 646
Amortization 65 49
Defined benefit plans - (income) expense (7) (30)
Deferred income taxes and investment tax credits 137 104
Stock-based compensation expense 31 26
Other (19) 12
Change in current assets and current liabilities    
Accounts receivable (31) (91)
Accounts payable (192) (167)
Unbilled revenues 138 63
Fuel, materials and supplies (42) 13
Prepayments (67) (56)
Taxes payable (72) 40
Regulatory assets and liabilities, net (10) 64
Accrued interest 6 (5)
Other (36) (52)
Other operating activities    
Defined benefit plans - funding (8) (7)
Other assets (101) (77)
Other liabilities 5 21
Net cash provided by operating activities 1,140 1,115
Cash Flows from Investing Activities    
Expenditures for property, plant and equipment (2,339) (1,723)
Other investing activities (68) 10
Net cash used in investing activities (2,407) (1,713)
Cash Flows from Financing Activities    
Issuance of long-term debt 2,046 0
Retirement of long-term debt (668) 0
Payment of common stock dividends (416) (392)
Net increase (decrease) in short-term debt (391) 983
Other financing activities (13) (9)
Debt Issuance Costs (38) (5)
Net cash provided by financing activities 520 577
Net Increase (Decrease) in Cash, Cash Equivalents and Restricted Cash (747) (21)
Cash and Cash Equivalents at Beginning of Period 1,071  
Cash, Cash Equivalents and Restricted Cash at Beginning of Period 1,086 339
Cash and Cash Equivalents at End of Period 332  
Cash, Cash Equivalents and Restricted Cash at End of Period 339 318
Supplemental Disclosures of Cash Flow Information    
Accrued expenditures for property, plant and equipment at June 30, 612 450
AFUDC - equity component (52) (35)
PPL Electric Utilities Corp [Member]    
Cash Flows from Operating Activities    
Net income (loss) [1] 316 323
Depreciation 218 202
Amortization 29 21
Defined benefit plans - (income) expense (5) (15)
Deferred income taxes and investment tax credits 41 48
Other 1 2
Change in current assets and current liabilities    
Accounts receivable (114) (83)
Accounts payable (128) (83)
Unbilled revenues 77 17
Fuel, materials and supplies (32) (10)
Prepayments (38) (38)
Taxes payable (44) (1)
Regulatory assets and liabilities, net 31 46
Other 19 0
Other operating activities    
Other assets (15) (26)
Other liabilities 0 (6)
Net cash provided by operating activities 337 382
Cash Flows from Investing Activities    
Expenditures for property, plant and equipment (794) (697)
Expenditures for intangible assets (7) (4)
Notes receivable from affiliates (366) 222
Other investing activities 34 12
Net cash used in investing activities (1,133) (467)
Cash Flows from Financing Activities    
Issuance of long-term debt 496 0
Payment of common stock dividends to parent (221) (207)
Net increase (decrease) in short-term debt 0 384
Contributions from parent 530 0
Return of capital to parent 0 (100)
Debt Issuance Costs (6) (1)
Net cash provided by financing activities 799 76
Net Increase (Decrease) in Cash, Cash Equivalents and Restricted Cash 3 (9)
Cash and Cash Equivalents at Beginning of Period 30  
Cash, Cash Equivalents and Restricted Cash at Beginning of Period 30 24
Cash and Cash Equivalents at End of Period 33  
Cash, Cash Equivalents and Restricted Cash at End of Period 33 15
Supplemental Disclosures of Cash Flow Information    
Accrued expenditures for property, plant and equipment at June 30, 385 201
AFUDC - equity component (19) (15)
Louisville Gas And Electric Co [Member]    
Cash Flows from Operating Activities    
Net income (loss) [2] 192 161
Depreciation 170 151
Amortization 10 11
Other (2) 4
Change in current assets and current liabilities    
Accounts receivable 11 19
Accounts receivable from affiliates 16 12
Accounts payable (15) (8)
Increase (Decrease) in Accounts Payable, Related Parties (13) 7
Unbilled revenues 10 3
Fuel, materials and supplies 6 15
Taxes payable (31) (12)
Regulatory assets and liabilities, net (32) (17)
Other (11) (13)
Other operating activities    
Expenditures for asset retirement obligations (5) (4)
Other assets (21) (42)
Other liabilities 3 (1)
Net cash provided by operating activities 277 279
Cash Flows from Investing Activities    
Expenditures for property, plant and equipment (533) (296)
Notes receivable from affiliates 36 (10)
Net cash used in investing activities (497) (306)
Cash Flows from Financing Activities    
Increase Decrease In Notes Payable To Affiliates 108 (43)
Payment of common stock dividends to parent (130) (111)
Net increase (decrease) in short-term debt 0 133
Contributions from parent 145 101
Return of capital to parent (58) (55)
Debt Issuance Costs 0 (1)
Net cash provided by financing activities 65 24
Net Increase (Decrease) in Cash, Cash Equivalents and Restricted Cash (155) (3)
Cash and Cash Equivalents at Beginning of Period 162  
Cash, Cash Equivalents and Restricted Cash at Beginning of Period 169 24
Cash and Cash Equivalents at End of Period 11  
Cash, Cash Equivalents and Restricted Cash at End of Period 14 21
Supplemental Disclosures of Cash Flow Information    
Accrued expenditures for property, plant and equipment at June 30, 86 74
AFUDC - equity component (11) (7)
Kentucky Utilities Co [Member]    
Cash Flows from Operating Activities    
Net income (loss) [3] 223 203
Depreciation 224 203
Amortization 15 8
Deferred income taxes and investment tax credits 0 4
Other (13) 3
Change in current assets and current liabilities    
Accounts receivable 0 3
Accounts payable 15 (5)
Increase (Decrease) in Accounts Payable, Related Parties (11) 6
Unbilled revenues (4) (4)
Fuel, materials and supplies (20) (7)
Taxes payable (34) (9)
Regulatory assets and liabilities, net (1) 2
Other (19) (24)
Other operating activities    
Expenditures for asset retirement obligations (8) (4)
Other assets (20) (18)
Other liabilities (1) (2)
Net cash provided by operating activities 333 351
Cash Flows from Investing Activities    
Expenditures for property, plant and equipment (520) (391)
Other investing activities 4 0
Net cash used in investing activities (516) (391)
Cash Flows from Financing Activities    
Retirement of long-term debt (18) 0
Increase Decrease In Notes Payable To Affiliates 136 (27)
Payment of common stock dividends to parent (150) (128)
Net increase (decrease) in short-term debt 65 135
Contributions from parent 148 91
Return of capital to parent 0 (37)
Debt Issuance Costs 0 (1)
Net cash provided by financing activities 181 33
Net Increase (Decrease) in Cash, Cash Equivalents and Restricted Cash (2) (7)
Cash and Cash Equivalents at Beginning of Period 10  
Cash, Cash Equivalents and Restricted Cash at Beginning of Period 17 29
Cash and Cash Equivalents at End of Period 12  
Cash, Cash Equivalents and Restricted Cash at End of Period 15 22
Supplemental Disclosures of Cash Flow Information    
Accrued expenditures for property, plant and equipment at June 30, 69 100
AFUDC - equity component $ (13) $ (8)
[1] Net income equals comprehensive income.
[2] Net income equals comprehensive income.
[3] Net income equals comprehensive income.