v3.26.3
CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($)
shares in Thousands, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Sep. 30, 2026
Sep. 30, 2025
Operating Revenues        
Operating Revenues $ 2,497 $ 2,239 $ 7,382 $ 6,768
Operation        
Fuel 246 231 715 657
Energy purchases 486 422 1,592 1,369
Other operation and maintenance 617 586 1,768 1,798
Depreciation 366 331 1,079 977
Taxes, other than income 117 100 343 314
Total Operating Expenses 1,832 1,670 5,497 5,115
Operating Income 665 569 1,885 1,653
Other Income (Expense) - net 22 39 104 90
Interest Expense 234 210 690 599
Income Taxes 86 80 250 229
Income from continuing operations after income taxes     1,049  
Net Income (Loss) $ 367 $ 318 $ 1,049 $ 915
Net Income:        
Diluted (in dollars per share) $ 0.49 $ 0.43 $ 1.38 $ 1.23
Weighted-Average Shares of Common Stock Outstanding (in thousands)        
Basic (in shares) 752,548 739,525 752,226 739,167
Diluted (in shares) 755,338 744,290 756,577 742,747
Income from Continuing Operations Before Income Taxes $ 453 $ 398 $ 1,299 $ 1,144
Income (Loss) from Continuing Operations After Income Taxes, Basic $ 0.49 $ 0.43 $ 1.39 $ 1.24
Income (Loss) from Continuing Operations after income taxes, Diluted $ 0.49 $ 0.43 $ 1.38 $ 1.23
PPL Electric Utilities Corp [Member]        
Operating Revenues        
Operating Revenues $ 918 $ 786 $ 2,633 $ 2,298
Operation        
Energy purchases 274 224 818 622
Other operation and maintenance 188 160 536 481
Depreciation 112 105 330 307
Taxes, other than income 42 38 126 111
Total Operating Expenses 616 527 1,810 1,521
Operating Income 302 259 823 777
Other Income (Expense) - net 13 14 39 36
Interest Expense 73 67 213 189
Income Taxes 56 49 149 146
Net Income (Loss) [1] 191 159 507 482
Weighted-Average Shares of Common Stock Outstanding (in thousands)        
Income from Continuing Operations Before Income Taxes 247 208 656 628
PPL Electric Utilities Corp [Member] | Related Party        
Operation        
Interest Income from affiliate 5 2 7 4
Louisville Gas And Electric Co [Member]        
Operating Revenues        
Operating Revenues 470 427 1,465 1,310
Operation        
Fuel 96 97 263 254
Energy purchases 16 17 155 128
Energy purchases from affiliate 8 6 26 18
Other operation and maintenance 92 91 272 271
Depreciation 87 77 257 228
Taxes, other than income 15 13 43 39
Total Operating Expenses 314 301 1,016 938
Operating Income 156 126 449 372
Other Income (Expense) - net 7 8 19 16
Interest Expense 33 30 97 83
Income Taxes 26 21 75 61
Net Income (Loss) 104 [2] 83 296 [2] 244 [2]
Weighted-Average Shares of Common Stock Outstanding (in thousands)        
Income from Continuing Operations Before Income Taxes 130 104 371 305
Louisville Gas And Electric Co [Member] | Related Party        
Operating Revenues        
Retail and wholesale 4 7 15 17
Louisville Gas And Electric Co [Member] | Nonrelated Party        
Operating Revenues        
Retail and wholesale 466 420 1,450 1,293
Kentucky Utilities Co [Member]        
Operating Revenues        
Operating Revenues 590 530 1,720 1,566
Operation        
Fuel 151 135 452 404
Energy purchases 5 6 18 20
Energy purchases from affiliate 4 7 15 17
Other operation and maintenance 118 101 327 303
Depreciation 114 102 338 305
Taxes, other than income 14 13 41 38
Total Operating Expenses 406 364 1,191 1,087
Operating Income 184 166 529 479
Other Income (Expense) - net 10 9 23 19
Interest Expense     121 108
Income Taxes 31 28 86 78
Net Income (Loss) [3] 122 109 345 312
Weighted-Average Shares of Common Stock Outstanding (in thousands)        
Income from Continuing Operations Before Income Taxes 153 137 431 390
Kentucky Utilities Co [Member] | Related Party        
Operating Revenues        
Retail and wholesale 8 6 26 18
Kentucky Utilities Co [Member] | Nonrelated Party        
Operating Revenues        
Retail and wholesale 582 524 $ 1,694 $ 1,548
Operation        
Interest Expense $ 41 $ 38    
[1] Net income equals comprehensive income.
[2] Net income equals comprehensive income.
[3] Net income equals comprehensive income.