v3.26.3
Revenue from Contracts with Customers
 9 Months Ended
Sep. 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 September 30:
2026 Three Months
PPL PPL ElectricLG&EKU
Operating Revenues (a)$2,497 $918 $470 $590 
   Revenues derived from:
Alternative revenue programs (b)(11)8 2 2 
Other (c)(7)(5)(2)(2)
Revenues from Contracts with Customers$2,479 $921 $470 $590 
2025 Three Months
PPLPPL ElectricLG&EKU
Operating Revenues (a)$2,239 $786 $427 $530 
   Revenues derived from:
Alternative revenue programs (b)6 — (2)2 
Other (c)(8)(4)(1)(1)
Revenues from Contracts with Customers$2,237 $782 $424 $531 
2026 Nine Months
PPLPPL ElectricLG&EKU
Operating Revenues (a)$7,382 $2,633 $1,465 $1,720 
   Revenues derived from:
Alternative revenue programs (b)40 34 1 1 
Other (c)(21)(15)(4)(4)
Revenues from Contracts with Customers$7,401 $2,652 $1,462 $1,717 
2025 Nine Months
PPLPPL ElectricLG&EKU
Operating Revenues (a)$6,768 $2,298 $1,310 $1,566 
   Revenues derived from:
Alternative revenue programs (b)75 9 (1)3 
Other (c)(20)(13)(3)(3)
Revenues from Contracts with Customers$6,823 $2,294 $1,306 $1,566 

(a)PPL includes $530 million and $1,605 million for the three and nine months ended September 30, 2026 and $509 million and $1,629 million for the three and nine months ended September 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 September 30:

Three Months
ResidentialCommercialIndustrialOther (a)Wholesale - municipalityWholesale - other (b)TransmissionRevenues from Contracts with Customers
PPL
2026
PA Regulated$492 $142 $16 $16 $— $— $255 $921 
KY Regulated456 301 171 87 8 28 — 1,051 
RI Regulated269 152 21 4 — — 61 507 
Total PPL$1,217 $595 $208 $107 $8 $28 $316 $2,479 
2025
PA Regulated$403 $119 $16 $15 $— $— $229 $782 
KY Regulated394 278 162 74 7 26 — 941 
RI Regulated258 158 23 9 — — 66 514 
Total PPL$1,055 $555 $201 $98 $7 $26 $295 $2,237 
PPL Electric
2026$492 $142 $16 $16 $— $— $255 $921 
2025$403 $119 $16 $15 $— $— $229 $782 
LG&E
2026$229 $147 $51 $33 $— $10 $— $470 
2025$195 $137 $49 $29 $— $14 $— $424 
KU
2026$227 $154 $120 $52 $8 $29 $— $590 
2025$199 $141 $113 $46 $7 $25 $— $531 
Nine Months
ResidentialCommercialIndustrialOther (a)Wholesale - municipalityWholesale - other (b)TransmissionRevenues from Contracts with Customers
PPL
2026
PA Regulated$1,417 $388 $45 $48 $— $— $754 $2,652 
KY Regulated1,359 884 508 278 19 91 — 3,139 
RI Regulated855 499 63 22 — — 171 1,610 
Total PPL$3,631 $1,771 $616 $348 $19 $91 $925 $7,401 
2025
PA Regulated$1,205 $331 $42 $41 $— $— $675 $2,294 
KY Regulated1,209 805 474 241 19 88 — 2,836 
RI Regulated913 516 61 37 — — 166 1,693 
Total PPL$3,327 $1,652 $577 $319 $19 $88 $841 $6,823 
PPL Electric
2026$1,417 $388 $45 $48 $— $— $754 $2,652 
2025$1,205 $331 $42 $41 $— $— $675 $2,294 
LG&E
2026$686 $446 $150 $133 $— $47 $— $1,462 
2025$601 $406 $143 $111 $— $45 $— $1,306 
KU
2026$673 $438 $358 $144 $19 $85 $— $1,717 
2025$608 $399 $331 $131 $19 $78 $— $1,566 

(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 September 30:
Three MonthsNine Months
2026202520262025
PPL$31 $30 $71 $72 
PPL Electric20 11 30 20 
LG&E2 1 3 3 
KU1 2 3 4 

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 September 30, 2026 and 2025.