← Filings of PPL
Tables in the 10-Q of PPL Corp
143 tables with numbers, filed May 2, 2019. Each one downloads as a CSV for Excel or
Google Sheets, with the filing's address in the last row. Only the layout is tidied (a "$" or ")" in a cell of its own is joined to its number); no value is changed.
Open the filing on sec.gov ↗
| UNITED STATESSECURITIES AND EXCHANGE COMMISSIONWashington, D.C. 20549 | |
| FORM 10-Q | |
| [X] | QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 for the quarterly period ended March 31, 2019. |
| OR | |
| [ ] | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 for the transition period from _________ to ___________ |
| Commission FileNumber | Registrant; State of Incorporation;Address and Telephone Number | IRS EmployerIdentification No. |
| 1-11459 | PPL Corporation(Exact name of Registrant as specified in its charter)(Pennsylvania)Two North Ninth StreetAllentown, PA 18101-1179(610) 774-5151 | 23-2758192 |
| 1-905 | PPL Electric Utilities Corporation(Exact name of Registrant as specified in its charter)(Pennsylvania)Two North Ninth StreetAllentown, PA 18101-1179(610) 774-5151 | 23-0959590 |
| 333-173665 | LG&E and KU Energy LLC(Exact name of Registrant as specified in its charter)(Kentucky)220 West Main StreetLouisville, KY 40202-1377(502) 627-2000 | 20-0523163 |
| 1-2893 | Louisville Gas and Electric Company(Exact name of Registrant as specified in its charter)(Kentucky)220 West Main StreetLouisville, KY 40202-1377(502) 627-2000 | 61-0264150 |
| 1-3464 | Kentucky Utilities Company(Exact name of Registrant as specified in its charter)(Kentucky and Virginia)One Quality StreetLexington, KY 40507-1462(502) 627-2000 | 61-0247570 |
Table 3 after “Indicate the number of shares outstanding of each of the issuer's classes of common stock, as of the latest practicable date.”
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| PPL Corporation | Common stock, $0.01 par value, 721,742,302 shares outstanding at April 25, 2019. |
| PPL Electric Utilities Corporation | Common stock, no par value, 66,368,056 shares outstanding and all held by PPL Corporation at April 25, 2019. |
| LG&E and KU Energy LLC | PPL Corporation directly holds all of the membership interests in LG&E and KU Energy LLC. |
| Louisville Gas and Electric Company | Common stock, no par value, 21,294,223 shares outstanding and all held by LG&E and KU Energy LLC at April 25, 2019. |
| Kentucky Utilities Company | Common stock, no par value, 37,817,878 shares outstanding and all held by LG&E and KU Energy LLC at April 25, 2019. |
Table 4 after “Unless otherwise specified, references in this Report, individually, to PPL Corporation, PPL Electric Utilities Corporation, LG&E and KU Ene”
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| | Page | | |
| GLOSSARY OF TERMS AND ABBREVIATIONS | i | | | |
| FORWARD-LOOKING INFORMATION | 1 | | | |
| PART I. FINANCIAL INFORMATION | | | | |
| Item 1. Financial Statements | | | |
| | PPL Corporation and Subsidiaries | | |
| | | Condensed Consolidated Statements of Income | 3 |
| | | Condensed Consolidated Statements of Comprehensive Income | 4 |
First 8 of 31 rows. The CSV has all of them.
| Combined Notes to Condensed Financial Statements (Unaudited) | | | |
| | Index to Combined Notes to Condensed Financial Statements | 33 | |
| | 1. Interim Financial Statements | 33 | |
| | 2. Summary of Significant Accounting Policies | 34 | |
| | 3. Segment and Related Information | 35 | |
| | 4. Revenue from Contracts with Customers | 36 | |
| | 5. Earnings Per Share | 38 | |
| | 6. Income Taxes | 39 | |
First 8 of 50 rows. The CSV has all of them.
Table 6 after “(Millions of Dollars, except share data)”
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| Three Months Ended March 31, | | |
| 2019 | 2018 | |
| Operating Revenues | $2,079 | | $2,126 |
| Operating Expenses | | | |
| Operation | | | |
| Fuel | 194 | | 214 |
| Energy purchases | 250 | | 241 |
| Other operation and maintenance | 490 | | 468 |
First 8 of 24 rows. The CSV has all of them.
| Three Months Ended March 31, | | |
| 2019 | 2018 | |
| Net income | $466 | | $452 |
| Other comprehensive income (loss): | | | |
| Amounts arising during the period - gains (losses), net of tax (expense) benefit: | | | |
| Foreign currency translation adjustments, net of tax of $0, $0 | 294 | | 116 |
| Qualifying derivatives, net of tax of $4, $4 | (19) | | (20) |
| Defined benefit plans: | | | |
First 8 of 15 rows. The CSV has all of them.
| Three Months Ended March 31, | | |
| 2019 | 2018 | |
| Cash Flows from Operating Activities | | | |
| Net income | $466 | | $452 |
| Adjustments to reconcile net income to net cash provided by operating activities | | | |
| Depreciation | 284 | | 269 |
| Amortization | 22 | | 21 |
| Defined benefit plans - (income) | (66) | | (50) |
First 8 of 48 rows. The CSV has all of them.
Table 9 after “(Millions of Dollars, shares in thousands)”
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| March 31, 2019 | December 31, 2018 | |
| Assets | | | |
| Current Assets | | | |
| Cash and cash equivalents | $518 | | $621 |
| Accounts receivable (less reserve: 2019, $61; 2018, $56) | | | |
| Customer | 749 | | 663 |
| Other | 104 | | 107 |
| Unbilled revenues | 456 | | 496 |
First 8 of 31 rows. The CSV has all of them.
Table 10 after “(Millions of Dollars, shares in thousands)”
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| March 31, 2019 | December 31, 2018 | |
| Liabilities and Equity | | | |
| Current Liabilities | | | |
| Short-term debt | $1,428 | | $1,430 |
| Long-term debt due within one year | 202 | | 530 |
| Accounts payable | 823 | | 989 |
| Taxes | 112 | | 110 |
| Interest | 332 | | 278 |
First 8 of 30 rows. The CSV has all of them.
| Common stock shares outstanding (a) | Common stock | | Additional paid-in capital | Earnings reinvested | Accumulatedothercomprehensiveloss | | Total | | | | |
| December 31, 2018 | 720,323 | | $7 | | $11,021 | | $4,593 | | | $(3,964) | | $11,657 |
| Common stock issued | 1,048 | | | | 32 | | | | | | 32 | |
| Stock-based compensation | | | | (2) | | | | | (2) | | | |
| Net income | | | | | 466 | | | | 466 | | | |
| Dividends and dividend equivalents (b) | | | | | (298) | | | | (298) | | | |
| Other comprehensive income | | | | | | 317 | | | 317 | | | |
| March 31, 2019 | 721,371 | | $7 | | $11,051 | | $4,761 | | | $(3,647) | | $12,172 |
First 8 of 15 rows. The CSV has all of them.
| Three Months Ended March 31, | | |
| 2019 | 2018 | |
| Operating Revenues | $645 | | $639 |
| Operating Expenses | | | |
| Operation | | | |
| Energy purchases | 171 | | 161 |
| Other operation and maintenance | 150 | | 133 |
| Depreciation | 95 | | 85 |
First 8 of 17 rows. The CSV has all of them.
| Three Months Ended March 31, | | |
| 2019 | 2018 | |
| Cash Flows from Operating Activities | | | |
| Net income | $121 | | $148 |
| Adjustments to reconcile net income to net cash provided by operating activities | | | |
| Depreciation | 95 | | 85 |
| Amortization | 5 | | 6 |
| Defined benefit plans - expense | — | | 2 |
First 8 of 38 rows. The CSV has all of them.
Table 14 after “(Millions of Dollars, shares in thousands)”
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| March 31, 2019 | December 31, 2018 | |
| Assets | | | |
| Current Assets | | | |
| Cash and cash equivalents | $23 | | $267 |
| Accounts receivable (less reserve: 2019, $30; 2018, $27) | | | |
| Customer | 320 | | 264 |
| Other | 19 | | 38 |
| Accounts receivable from affiliates | 11 | | 11 |
First 8 of 26 rows. The CSV has all of them.
Table 15 after “(Millions of Dollars, shares in thousands)”
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| March 31, 2019 | December 31, 2018 | |
| Liabilities and Equity | | | |
| Current Liabilities | | | |
| Short-term debt | $60 | | $— |
| Accounts payable | 373 | | 418 |
| Accounts payable to affiliates | 48 | | 25 |
| Taxes | 10 | | 12 |
| Interest | 42 | | 37 |
First 8 of 25 rows. The CSV has all of them.
| Common stock sharesoutstanding(a) | Common stock | | Additionalpaid-incapital | Earningsreinvested | Total | | |
| December 31, 2018 | 66,368 | | $364 | | $3,158 | | $939 | $4,461 |
| Net income | | | | | | | 121 | 121 |
| Dividends declared on common stock | | | | | | | (120) | (120) |
| March 31, 2019 | 66,368 | | $364 | | $3,158 | | $940 | $4,462 |
| December 31, 2017 | 66,368 | | $364 | | $2,729 | | $899 | $3,992 |
| Net income | | | | | | | 148 | 148 |
| Dividends declared on common stock | | | | | | | (72) | (72) |
First 8 of 9 rows. The CSV has all of them.
| Three Months Ended March 31, | | |
| 2019 | 2018 | |
| Operating Revenues | $845 | | $872 |
| Operating Expenses | | | |
| Operation | | | |
| Fuel | 194 | | 214 |
| Energy purchases | 79 | | 80 |
| Other operation and maintenance | 214 | | 205 |
First 8 of 18 rows. The CSV has all of them.
| Three Months Ended March 31, | | |
| 2019 | 2018 | |
| Cash Flows from Operating Activities | | | |
| Net income | $124 | | $142 |
| Adjustments to reconcile net income to net cash provided by operating activities | | | |
| Depreciation | 123 | | 117 |
| Amortization | 10 | | 5 |
| Defined benefit plans - expense | 3 | | 3 |
First 8 of 42 rows. The CSV has all of them.
| March 31, 2019 | December 31, 2018 | |
| Assets | | | |
| Current Assets | | | |
| Cash and cash equivalents | $22 | | $24 |
| Accounts receivable (less reserve: 2019, $28; 2018, $27) | | | |
| Customer | 239 | | 239 |
| Other | 60 | | 63 |
| Unbilled revenues | 148 | | 169 |
First 8 of 25 rows. The CSV has all of them.
| March 31, 2019 | December 31, 2018 | |
| Liabilities and Equity | | | |
| Current Liabilities | | | |
| Short-term debt | $69 | | $514 |
| Long-term debt due within one year | 202 | | 530 |
| Notes payable with affiliates | 187 | | 113 |
| Accounts payable | 278 | | 366 |
| Accounts payable to affiliates | 17 | | 9 |
First 8 of 32 rows. The CSV has all of them.
| Member'sEquity |
| December 31, 2018 | $4,723 |
| Net income | 124 |
| Distributions to member | (56) |
| March 31, 2019 | $4,791 |
| December 31, 2017 | $4,563 |
| Net income | 142 |
| Distributions to member | (69) |
First 8 of 10 rows. The CSV has all of them.
| Three Months Ended March 31, | | |
| 2019 | 2018 | |
| Operating Revenues | | | |
| Retail and wholesale | $397 | | $407 |
| Electric revenue from affiliate | 13 | | 12 |
| Total Operating Revenues | 410 | | 419 |
| Operating Expenses | | | |
| Operation | | | |
First 8 of 21 rows. The CSV has all of them.
| Three Months Ended March 31, | | |
| 2019 | 2018 | |
| Cash Flows from Operating Activities | | | |
| Net income | $64 | | $72 |
| Adjustments to reconcile net income to net cash provided by operating activities | | | |
| Depreciation | 51 | | 48 |
| Amortization | 7 | | 4 |
| Defined benefit plans - expense | — | | 1 |
First 8 of 40 rows. The CSV has all of them.
Table 24 after “(Millions of Dollars, shares in thousands)”
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| March 31, 2019 | December 31, 2018 | |
| Assets | | | |
| Current Assets | | | |
| Cash and cash equivalents | $9 | | $10 |
| Accounts receivable (less reserve: 2019, $1; 2018, $1) | | | |
| Customer | 110 | | 110 |
| Other | 37 | | 30 |
| Unbilled revenues | 64 | | 77 |
First 8 of 26 rows. The CSV has all of them.
Table 25 after “(Millions of Dollars, shares in thousands)”
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| March 31, 2019 | December 31, 2018 | |
| Liabilities and Equity | | | |
| Current Liabilities | | | |
| Short-term debt | $69 | | $279 |
| Long-term debt due within one year | 106 | | 434 |
| Accounts payable | 152 | | 172 |
| Accounts payable to affiliates | 23 | | 26 |
| Customer deposits | 31 | | 29 |
First 8 of 31 rows. The CSV has all of them.
| Common stock sharesoutstanding (a) | Common stock | | Additional paid-in capital | Earnings reinvested | Total | | |
| December 31, 2018 | 21,294 | | $424 | | $1,795 | | $468 | $2,687 |
| Net income | | | | | | | 64 | 64 |
| Cash dividends declared on common stock | | | | | | | (30) | (30) |
| March 31, 2019 | 21,294 | | $424 | | $1,795 | | $502 | $2,721 |
| December 31, 2017 | 21,294 | | $424 | | $1,712 | | $391 | $2,527 |
| Net income | | | | | | | 72 | 72 |
| Cash dividends declared on common stock | | | | | | | (34) | (34) |
First 8 of 9 rows. The CSV has all of them.
| Three Months Ended March 31, | | |
| 2019 | 2018 | |
| Operating Revenues | | | |
| Retail and wholesale | $448 | | $465 |
| Electric revenue from affiliate | 2 | | 6 |
| Total Operating Revenues | 450 | | 471 |
| Operating Expenses | | | |
| Operation | | | |
First 8 of 21 rows. The CSV has all of them.
| Three Months Ended March 31, | | |
| 2019 | 2018 | |
| Cash Flows from Operating Activities | | | |
| Net income | $81 | | $87 |
| Adjustments to reconcile net income to net cash provided by operating activities | | | |
| Depreciation | 72 | | 68 |
| Amortization | 3 | | 1 |
| Deferred income taxes and investment tax credits | 15 | | 1 |
First 8 of 40 rows. The CSV has all of them.
Table 29 after “(Millions of Dollars, shares in thousands)”
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| March 31, 2019 | December 31, 2018 | |
| Assets | | | |
| Current Assets | | | |
| Cash and cash equivalents | $13 | | $14 |
| Accounts receivable (less reserve: 2019, $2; 2018, $2) | | | |
| Customer | 129 | | 129 |
| Other | 22 | | 34 |
| Unbilled revenues | 84 | | 92 |
First 8 of 25 rows. The CSV has all of them.
Table 30 after “(Millions of Dollars, shares in thousands)”
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| March 31, 2019 | December 31, 2018 | |
| Liabilities and Equity | | | |
| Current Liabilities | | | |
| Short-term debt | $— | | $235 |
| Long-term debt due within one year | 96 | | 96 |
| Accounts payable | 113 | | 171 |
| Accounts payable to affiliates | 52 | | 53 |
| Customer deposits | 32 | | 32 |
First 8 of 29 rows. The CSV has all of them.
| Common stock shares outstanding (a) | Common stock | | Additional paid-in capital | Earnings reinvested | Total | | |
| December 31, 2018 | 37,818 | | $308 | | $2,661 | | $473 | $3,442 |
| Capital contributions from parent | | | | | 28 | | | 28 |
| Net income | | | | | | | 81 | 81 |
| Cash dividends declared on common stock | | | | | | | (39) | (39) |
| March 31, 2019 | 37,818 | | $308 | | $2,689 | | $515 | $3,512 |
| December 31, 2017 | 37,818 | | $308 | | $2,616 | | $433 | $3,357 |
| Net income | | | | | | | 87 | 87 |
First 8 of 10 rows. The CSV has all of them.
Table 32 after “The notes to the condensed financial statements that follow are a combined presentation. The following list indicates the Registrants to whi”
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| Registrant | | | | |
| PPL | PPL Electric | LKE | LG&E | KU |
| 1. Interim Financial Statements | x | x | x | x | x |
| 2. Summary of Significant Accounting Policies | x | x | x | x | x |
| 3. Segment and Related Information | x | x | x | x | x |
| 4. Revenue from Contracts with Customers | x | x | x | x | x |
| 5. Earnings Per Share | x | | | | |
| 6. Income Taxes | x | x | x | x | x |
First 8 of 20 rows. The CSV has all of them.
Table 33 after “The following provides a reconciliation of Cash, Cash Equivalents and Restricted Cash reported within the Balance Sheets that sum to the tot”
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| PPL | PPL Electric | | | | |
| March 31, 2019 | December 31, 2018 | | March 31, 2019 | December 31, 2018 | |
| Cash and cash equivalents | $518 | | $621 | | $23 | $267 |
| Restricted cash - current (a) | 3 | | 3 | | 2 | 2 |
| Restricted cash - noncurrent (a) | 19 | | 19 | | — | — |
| Total Cash, Cash Equivalents and Restricted Cash | $540 | | $643 | | $25 | $269 |
Table 34 after “The following table shows the amounts recorded on the Balance Sheets as of January 1, 2019 as a result of the adoption of this guidance usin”
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| PPL | LKE | | LG&E | KU | |
| Right of Use Asset (a) | $81 | | $56 | | $23 | $31 |
| Lease Liability- Current (b) | 23 | | 18 | | 9 | 9 |
| Lease Liability- Noncurrent (c) | 67 | | 46 | | 18 | 26 |
| Three Months | | |
| 2019 | 2018 | |
| Operating Revenues from external customers | | | |
| U.K. Regulated | $583 | | $615 |
| Kentucky Regulated | 845 | | 872 |
| Pennsylvania Regulated | 645 | | 639 |
| Corporate and Other | 6 | | — |
| Total | $2,079 | | $2,126 |
First 8 of 14 rows. The CSV has all of them.
Table 36 after “The following provides Balance Sheet data for the segments and reconciliation to PPL's consolidated Balance Sheets as of:”
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| March 31, 2019 | December 31, 2018 | |
| Assets | | | |
| U.K. Regulated (a) (b) | $17,753 | | $16,700 |
| Kentucky Regulated | 15,176 | | 15,078 |
| Pennsylvania Regulated | 11,260 | | 11,257 |
| Corporate and Other (c) | 378 | | 361 |
| Total | $44,567 | | $43,396 |
| Three Months | | | | | | | |
| 2019 | | | | | | | |
| PPL | PPL Electric | | LKE | LG&E | KU | | |
| Operating Revenues (a) | $2,079 | | $645 | | $845 | | $410 | $450 |
| Revenues derived from: | | | | | | | | |
| Alternative revenue programs (b) | (6) | | (4) | | (2) | | (2) | — |
| Other (c) | (10) | | (3) | | (4) | | (1) | (3) |
| Revenues from Contracts with Customers | $2,063 | | $638 | | $839 | | $407 | $447 |
| Three Months | | | | | | | |
| 2018 | | | | | | | |
| PPL | PPL Electric | | LKE | LG&E | KU | | |
| Operating Revenues (a) | $2,126 | | $639 | | $872 | | $419 | $471 |
| Revenues derived from: | | | | | | | | |
| Alternative revenue programs (b) | 32 | | 2 | | 30 | | 14 | 16 |
| Other (c) | (16) | | (4) | | (5) | | (1) | (4) |
| Revenues from Contracts with Customers | $2,142 | | $637 | | $897 | | $432 | $483 |
| Three Months | | | | | | | |
| 2019 | | | | | | | |
| PPL | PPL Electric | | LKE | LG&E | KU | | |
| Licensed energy suppliers (a) | $556 | | $— | | $— | | $— | $— |
| Residential | 778 | | 407 | | 371 | | 189 | 182 |
| Commercial | 319 | | 95 | | 224 | | 121 | 103 |
| Industrial | 150 | | 17 | | 133 | | 44 | 89 |
| Other (b) | 114 | | 14 | | 70 | | 33 | 37 |
First 8 of 12 rows. The CSV has all of them.
| Three Months | | | | | | | |
| 2018 | | | | | | | |
| PPL | PPL Electric | | LKE | LG&E | KU | | |
| Licensed energy suppliers (a) | $584 | | $— | | $— | | $— | $— |
| Residential | 804 | | 408 | | 396 | | 197 | 199 |
| Commercial | 325 | | 98 | | 227 | | 124 | 103 |
| Industrial | 155 | | 13 | | 142 | | 44 | 98 |
| Other (b) | 105 | | 13 | | 68 | | 31 | 37 |
First 8 of 12 rows. The CSV has all of them.
| 2019 | 2018 | |
| PPL | $9 | | $10 |
| PPL Electric | 6 | | 7 |
| LKE | 2 | | 2 |
| LG&E | 1 | | 1 |
| KU | 1 | | 1 |
Table 42 after “The following table shows the balances and certain activity of contract liabilities resulting from contracts with customers.”
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| PPL | PPL Electric | | LKE | LG&E | KU | | |
| Contract liabilities at December 31, 2018 | $42 | | $23 | | $9 | | $5 | $4 |
| Contract liabilities at March 31, 2019 | 37 | | 14 | | 7 | | 4 | 3 |
| Revenue recognized during the three months ended March 31, 2019 that was included in the contract liability balance at December 31, 2018 | 25 | | 11 | | 9 | | 5 | 4 |
| PPL | PPL Electric | | LKE | LG&E | KU | | |
| Contract liabilities at December 31, 2017 | $29 | | $19 | | $8 | | $4 | $4 |
| Contract liabilities at March 31, 2018 | 20 | | 11 | | 7 | | 3 | 4 |
| Revenue recognized during the three months ended March 31, 2018 that was included in the contract liability balance at December 31, 2017 | 17 | | 8 | | 8 | | 4 | 4 |
Table 44 after “used in the EPS calculation are:”
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| Three Months | | |
| 2019 | 2018 | |
| Income (Numerator) | | | |
| Net income | $466 | | $452 |
| Less amounts allocated to participating securities | — | | 1 |
| Net income available to PPL common shareowners - Basic and Diluted | $466 | | $451 |
| Shares of Common Stock (Denominator) | | | |
| Weighted-average shares - Basic EPS | 721,023 | | 694,514 |
First 8 of 16 rows. The CSV has all of them.
Table 45 after “, PPL issued common stock related to stock-based compensation plans and the DRIP as follows (in thousands):”
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| Three Months | | |
| 2019 | 2018 | |
| Stock-based compensation plans (a) | 590 | | 476 |
| DRIP | 458 | | 485 |
Table 46 after “, the following shares (in thousands) were excluded from the computations of diluted EPS because the effect would have been antidilutive.”
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| Three Months | | |
| 2019 | 2018 | |
| Stock options | — | | 230 |
| Restricted stock units | — | | 20 |
| (PPL) | | | |
| Three Months | | |
| 2019 | 2018 | |
| Federal income tax on Income Before Income Taxes at statutory tax rate - 21% | $124 | | $119 |
| Increase (decrease) due to: | | | |
| State income taxes, net of federal income tax benefit | 13 | | 15 |
| Valuation allowance adjustments | 7 | | 7 |
| Impact of lower U.K. income tax rates | (8) | | (7) |
First 8 of 12 rows. The CSV has all of them.
| (PPL Electric) | | | |
| Three Months | | |
| 2019 | 2018 | |
| Federal income tax on Income Before Income Taxes at statutory tax rate - 21% | $34 | | $41 |
| Increase (decrease) due to: | | | |
| State income taxes, net of federal income tax benefit | 13 | | 15 |
| Amortization of excess deferred income taxes | (4) | | (5) |
| Other | (1) | | (2) |
First 8 of 10 rows. The CSV has all of them.
| (LKE) | | | |
| Three Months | | |
| 2019 | 2018 | |
| Federal income tax on Income Before Income Taxes at statutory tax rate - 21% | $33 | | $38 |
| Increase (decrease) due to: | | | |
| State income taxes, net of federal income tax benefit (a) | 6 | | 8 |
| Amortization of excess deferred federal and state income taxes | (6) | | (5) |
| Other | (1) | | (2) |
First 8 of 10 rows. The CSV has all of them.
| (LG&E) | | | |
| Three Months | | |
| 2019 | 2018 | |
| Federal income tax on Income Before Income Taxes at statutory tax rate - 21% | $17 | | $20 |
| Increase (decrease) due to: | | | |
| State income taxes, net of federal income tax benefit (a) | 3 | | 4 |
| Amortization of excess deferred federal and state income taxes | (3) | | (2) |
| Other | — | | (1) |
First 8 of 10 rows. The CSV has all of them.
| (KU) | | | |
| Three Months | | |
| 2019 | 2018 | |
| Federal income tax on Income Before Income Taxes at statutory tax rate - 21% | $22 | | $23 |
| Increase (decrease) due to: | | | |
| State income taxes, net of federal income tax benefit (a) | 4 | | 5 |
| Amortization of excess deferred federal and state income taxes | (3) | | (3) |
| Other | (1) | | (1) |
First 8 of 10 rows. The CSV has all of them.
Table 52 after “The following table provides information about the regulatory assets and liabilities of cost-based rate-regulated utility operations.”
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| PPL | PPL Electric | | | | |
| March 31, 2019 | December 31, 2018 | | March 31, 2019 | December 31, 2018 | |
| Current Regulatory Assets: | | | | | | |
| Gas supply clause | $12 | | $12 | | $— | $— |
| Smart meter rider | 11 | | 11 | | 11 | 11 |
| Plant outage costs | 13 | | 10 | | — | — |
| Other | 2 | | 3 | | — | — |
| Total current regulatory assets (a) | $38 | | $36 | | $11 | $11 |
First 8 of 20 rows. The CSV has all of them.
| PPL | PPL Electric | | | | |
| March 31, 2019 | December 31, 2018 | | March 31, 2019 | December 31, 2018 | |
| Current Regulatory Liabilities: | | | | | | |
| Generation supply charge | $24 | | $33 | | $24 | $33 |
| Transmission service charge | 7 | | 3 | | 7 | 3 |
| Environmental cost recovery | 13 | | 16 | | — | — |
| Universal service rider | 20 | | 27 | | 20 | 27 |
| Transmission formula rate | — | | 3 | | — | 3 |
First 8 of 22 rows. The CSV has all of them.
| LKE | LG&E | | KU | | | | | | |
| March 31, 2019 | December 31, 2018 | | March 31, 2019 | December 31, 2018 | March 31, 2019 | | December 31, 2018 | | |
| Current Regulatory Assets: | | | | | | | | | | |
| Plant outage costs | $13 | | $10 | | $9 | | $7 | | $4 | $3 |
| Gas supply clause | 12 | | 12 | | 12 | | 12 | | — | — |
| Other | 2 | | 3 | | 1 | | 2 | | 1 | 1 |
| Total current regulatory assets | $27 | | $25 | | $22 | | $21 | | $5 | $4 |
| Noncurrent Regulatory Assets: | | | | | | | | | | |
First 8 of 16 rows. The CSV has all of them.
| LKE | LG&E | | KU | | | | | | |
| March 31, 2019 | December 31, 2018 | | March 31, 2019 | December 31, 2018 | March 31, 2019 | | December 31, 2018 | | |
| Current Regulatory Liabilities: | | | | | | | | | | |
| Environmental cost recovery | $13 | | $16 | | $5 | | $6 | | $8 | $10 |
| TCJA customer refund | 5 | | 17 | | 2 | | 7 | | 3 | 10 |
| Generation formula rate | 8 | | 7 | | — | | — | | 8 | 7 |
| Other | 14 | | 8 | | 3 | | 4 | | 11 | 4 |
| Total current regulatory liabilities | $40 | | $48 | | $10 | | $17 | | $30 | $31 |
First 8 of 16 rows. The CSV has all of them.
Table 56 after “The Registrants maintain credit facilities to enhance liquidity, provide credit support and act as a backstop to commercial paper programs. ”
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| March 31, 2019 | December 31, 2018 | | | | | | | | | | | | | | | | |
| ExpirationDate | Capacity | | Borrowed | | Letters ofCreditandCommercialPaperIssued | | UnusedCapacity | Borrowed | | Letters ofCreditandCommercialPaperIssued | | | | | | | |
| PPL | | | | | | | | | | | | | | | | | | |
| U.K. | | | | | | | | | | | | | | | | | | |
| WPD plc | | | | | | | | | | | | | | | | | | |
| Syndicated Credit Facility (a) | Jan. 2023 | £ | 210 | | | £ | 151 | | £ | — | | £ | 57 | | £ | 157 | £ | — |
| WPD (South West) | | | | | | | | | | | | | | | | | | |
| Syndicated Credit Facility | July 2021 | 245 | | | — | | | — | | 245 | | — | | — | | | | |
First 8 of 19 rows. The CSV has all of them.
| March 31, 2019 | December 31, 2018 | | | | | | | | | |
| ExpirationDate | Capacity | Borrowed | | Letters ofCreditandCommercialPaperIssued | UnusedCapacity | Borrowed | | Letters ofCreditandCommercialPaperIssued | | |
| PPL Electric | | | | | | | | | | | |
| Syndicated Credit Facility | Jan. 2024 | $650 | | $— | | $61 | | $589 | | $— | $1 |
| LG&E | | | | | | | | | | | |
| Syndicated Credit Facility | Jan. 2024 | $500 | | $— | | $269 | | $231 | | $— | $279 |
| Term Loan Credit Facility (d) | Oct. 2019 | 200 | | 200 | | — | | — | | 200 | — |
| Total LG&E Credit Facilities | | $700 | | $200 | | $269 | | $231 | | $200 | $279 |
First 8 of 12 rows. The CSV has all of them.
Table 58 after “PPL, PPL Electric, LG&E and KU maintain commercial paper programs to provide an additional financing source to fund short-term liquidity nee”
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| March 31, 2019 | December 31, 2018 | | | | | | | |
| Weighted -AverageInterest Rate | Capacity | CommercialPaperIssuances | | UnusedCapacity | Weighted -AverageInterest Rate | CommercialPaperIssuances | | |
| PPL Capital Funding | 2.88% | $1,500 | | $968 | | $532 | | 2.82% | $669 |
| PPL Electric | 2.75% | 650 | | 60 | | 590 | | | — |
| LG&E (a) | 2.75% | 350 | | 269 | | 81 | | 2.94% | 279 |
| KU (b) | 2.75% | 350 | | 233 | | 117 | | 2.94% | 235 |
| Total | | $2,850 | | $1,530 | | $1,320 | | | $1,183 |
| PPL | LKE | | LG&E | KU | |
| Lease cost: | | | | | | |
| Operating lease cost | $8 | | $7 | | $4 | $3 |
| Short-term lease cost | 1 | | — | | — | — |
| Total lease cost | $9 | | $7 | | $4 | $3 |
| PPL | LKE | | LG&E | KU | |
| Cash paid for amounts included in the measurement of lease liabilities: | | | | | | |
| Operating cash flows from operating leases | $8 | | $7 | | $4 | $3 |
| Right-of-use asset obtained in exchange for new operating lease liabilities | 4 | | 4 | | 1 | 3 |
| PPL | LKE | | LG&E | KU | |
| 2019 | $23 | | $19 | | $8 | $11 |
| 2020 | 20 | | 15 | | 6 | 8 |
| 2021 | 14 | | 11 | | 4 | 6 |
| 2022 | 10 | | 7 | | 3 | 4 |
| 2023 | 7 | | 6 | | 3 | 3 |
| 2024 | 7 | | 5 | | 2 | 3 |
| Thereafter | 23 | | 5 | | 2 | 3 |
First 8 of 14 rows. The CSV has all of them.
Table 62 after “At December 31, 2018, the total future minimum rental payments for all operating leases were estimated to be:”
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| PPL | LKE | | LG&E | KU | |
| 2019 | $26 | | $20 | | $10 | $10 |
| 2020 | 21 | | 15 | | 6 | 9 |
| 2021 | 15 | | 11 | | 4 | 7 |
| 2022 | 13 | | 7 | | 3 | 4 |
| 2023 | 8 | | 6 | | 3 | 3 |
| Thereafter | 33 | | 11 | | 4 | 6 |
| Total | $116 | | $70 | | $30 | $39 |
Table 63 after “At March 31, 2019, PPL, LKE and KU expect to receive the following lease payments over the remaining term of their operating lease agreement”
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| PPL | LKE | | KU | |
| 2019 | $11 | | $6 | | $6 |
| 2020 | 13 | | 7 | | 7 |
| 2021 | 10 | | 5 | | 5 |
| 2022 | 4 | | — | | — |
| 2023 | 4 | | 1 | | — |
| 2024 | 4 | | — | | — |
| Thereafter | 12 | | — | | — |
First 8 of 10 rows. The CSV has all of them.
| Pension Benefits | | | | | |
| Three Months | | | | | |
| U.S. | U.K. | | | | |
| 2019 | 2018 | | 2019 | 2018 | |
| PPL | | | | | | |
| Service cost | $13 | | $16 | | $17 | $21 |
| Interest cost | 41 | | 39 | | 47 | 47 |
| Expected return on plan assets | (61) | | (62) | | (148) | (150) |
First 8 of 14 rows. The CSV has all of them.
| Pension Benefits | | |
| Three Months | | |
| 2019 | 2018 | |
| LKE | | | |
| Service cost | $6 | | $7 |
| Interest cost | 16 | | 16 |
| Expected return on plan assets | (25) | | (26) |
| Amortization of: | | | |
First 8 of 11 rows. The CSV has all of them.
| Pension Benefits | | |
| Three Months | | |
| 2019 | 2018 | |
| LG&E | | | |
| Interest cost | 3 | | 3 |
| Expected return on plan assets | (6) | | (5) |
| Amortization of: | | | |
| Prior service cost | 1 | | 1 |
First 8 of 10 rows. The CSV has all of them.
| Other Postretirement Benefits | | |
| Three Months | | |
| 2019 | 2018 | |
| PPL | | | |
| Service cost | $1 | | $1 |
| Interest cost | 6 | | 3 |
| Expected return on plan assets | (5) | | (4) |
| Amortization of prior service cost | — | | (1) |
First 8 of 14 rows. The CSV has all of them.
Table 68 after “, PPL Services allocated the following net periodic defined benefit costs to PPL Electric, and LKE allocated the following net periodic defi”
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| Three Months | | |
| 2019 | 2018 | |
| PPL Electric | $3 | | $4 |
| LG&E | 1 | | 2 |
| KU | — | | 1 |
Table 69 after “. For reporting purposes, on a consolidated basis, all guarantees of PPL Electric, LKE, LG&E and KU also apply to PPL, and all guarantees of”
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| Exposure at March 31, 2019 | | Expiration Date | |
| PPL | | | | |
| Indemnifications related to the WPD Midlands acquisition | | (a) | | |
| WPD indemnifications for entities in liquidation and sales of assets | $10 | | (b) | 2020 |
| WPD guarantee of pension and other obligations of unconsolidated entities | 81 | | (c) | |
| PPL Electric | | | | |
| Guarantee of inventory value | 12 | | (d) | 2020 |
| LKE | | | | |
First 8 of 11 rows. The CSV has all of them.
Table 70 after “PPL Services, PPL EU Services and LKS provide PPL, PPL Electric, LKE, their respective subsidiaries, including LG&E and KU, and each other w”
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| Three Months | | |
| 2019 | 2018 | |
| PPL Electric from PPL Services | $16 | | $16 |
| LKE from PPL Services | 9 | | 7 |
| PPL Electric from PPL EU Services | 37 | | 35 |
| LG&E from LKS | 38 | | 38 |
| KU from LKS | 43 | | 42 |
| Three Months | | |
| 2019 | 2018 | |
| Other Income | | | |
| Defined benefit plans - non-service credits (Note 10) | $80 | | $68 |
| Interest income | 6 | | — |
| AFUDC - equity component | 5 | | 5 |
| Miscellaneous | 6 | | 1 |
| Total Other Income | 97 | | 74 |
First 8 of 14 rows. The CSV has all of them.
Table 72 after “The assets and liabilities measured at fair value were:”
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| March 31, 2019 | December 31, 2018 | | | | | | | | | | | |
| Total | Level 1 | | Level 2 | Level 3 | Total | | Level 1 | Level 2 | Level 3 | | | |
| PPL | | | | | | | | | | | | | |
| Assets | | | | | | | | | | | | | |
| Cash and cash equivalents | $518 | | $518 | | $— | | $— | | $621 | | $621 | $— | $— |
| Restricted cash and cash equivalents (a) | 22 | | 22 | | — | | — | | 22 | | 22 | — | — |
| Special use funds (a): | | | | | | | | | | | | | |
| Money market fund | 3 | | 3 | | — | | — | | 59 | | 59 | — | — |
First 8 of 11 rows. The CSV has all of them.
| March 31, 2019 | December 31, 2018 | | | | | | | | | | | |
| Total | Level 1 | | Level 2 | Level 3 | Total | | Level 1 | Level 2 | Level 3 | | | |
| Price risk management assets (c): | | | | | | | | | | | | | |
| Foreign currency contracts | 163 | | — | | 163 | | — | | 202 | | — | 202 | — |
| Cross-currency swaps | 118 | | — | | 118 | | — | | 135 | | — | 135 | — |
| Total price risk management assets | 281 | | — | | 281 | | — | | 337 | | — | 337 | — |
| Total assets | $884 | | $543 | | $281 | | $— | | $1,039 | | $702 | $337 | $— |
| Liabilities | | | | | | | | | | | | | |
First 8 of 37 rows. The CSV has all of them.
Table 74 after “The carrying amounts of long-term debt on the Balance Sheets and their estimated fair values are set forth below. Long-term debt is classifi”
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| March 31, 2019 | December 31, 2018 | | | | |
| Carrying Amount (a) | Fair Value | | Carrying Amount (a) | Fair Value | |
| PPL | $21,316 | | $24,471 | | $20,599 | $22,939 |
| PPL Electric | 3,694 | | 4,054 | | 3,694 | 3,901 |
| LKE | 5,936 | | 6,389 | | 5,502 | 5,768 |
| LG&E | 2,009 | | 2,135 | | 1,809 | 1,874 |
| KU | 2,554 | | 2,777 | | 2,321 | 2,451 |
Table 75 after “The following table presents the fair value and location of derivative instruments recorded on the Balance Sheets.”
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| March 31, 2019 | December 31, 2018 | | | | | | | | | | | |
| Derivatives designated ashedging instruments | Derivatives not designatedas hedging instruments | | Derivatives designated ashedging instruments | Derivatives not designatedas hedging instruments | | | | | | | | |
| Assets | Liabilities | | Assets | Liabilities | Assets | | Liabilities | Assets | Liabilities | | | |
| Current: | | | | | | | | | | | | | |
| Price Risk Management | | | | | | | | | | | | | |
| Assets/Liabilities (a): | | | | | | | | | | | | | |
| Interest rate swaps (b) | $— | | $— | | $— | | $4 | | $— | | $— | $— | $4 |
| Cross-currency swaps (b) | 5 | | — | | — | | — | | 6 | | — | — | — |
First 8 of 18 rows. The CSV has all of them.
| Three Months | | | Three Months | |
| Derivative Relationships | Derivative Gain (Loss) Recognized in OCI | Location of Gain (Loss) Recognized in Income on Derivative | | Gain (Loss) Reclassified from AOCI into Income | |
| Cash Flow Hedges: | | | | | |
| Interest rate swaps | $— | | Interest expense | | $(2) |
| Cross-currency swaps | (23) | | Other income (expense) - net | | (28) |
| Total | $(23) | | | | $(30) |
| Net Investment Hedges: | | | | | |
| Foreign currency contracts | $— | | | | |
| Derivatives Not Designated as | Location of Gain (Loss) Recognized in | |
| Hedging Instruments | Income on Derivative | Three Months |
| Foreign currency contracts | Other income (expense) - net | $(33) |
| Interest rate swaps | Interest expense | (1) |
| Total | $(34) |
| Derivatives Not Designated as | Location of Gain (Loss) Recognized as | |
| Hedging Instruments | Regulatory Liabilities/Assets | Three Months |
| Interest rate swaps | Regulatory assets - noncurrent | $(1) |
| Three Months | | | Three Months | |
| Derivative Relationships | Derivative Gain (Loss) Recognized in OCI | Location of Gain (Loss) Recognized in Income on Derivative | | Gain (Loss) Reclassified from AOCI into Income | |
| Cash Flow Hedges: | | | | | |
| Interest rate swaps | $— | | Interest expense | | $(2) |
| Cross-currency swaps | (24) | | Other income (expense) - net | | (12) |
| Total | $(24) | | | | $(14) |
| Net Investment Hedges: | | | | | |
| Foreign currency contracts | $(1) | | | | |
| Derivatives Not Designated as | Location of Gain (Loss) Recognized in | |
| Hedging Instruments | Income on Derivative | Three Months |
| Foreign currency contracts | Other income (expense) - net | $(112) |
| Interest rate swaps | Interest expense | (1) |
| Total | $(113) |
| Derivatives Not Designated as | Location of Gain (Loss) Recognized as | |
| Hedging Instruments | Regulatory Liabilities/Assets | Three Months |
| Interest rate swaps | Regulatory assets - noncurrent | $4 |
Table 80 after “The following table presents the effect of cash flow hedge activity on the Statement of Income for the period ended March, 31, 2019.”
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| Location and Amount of Gain (Loss) Recognized in Income on Hedging Relationships | | |
| Interest Expense | Other Income (Expense) - net | |
| Total income and expense line items presented in the income statement in which the effect of cash flow hedges are recorded | $241 | | $52 |
| The effects of cash flow hedges: | | | |
| Gain (Loss) on cash flow hedging relationships: | | | |
| Interest rate swaps: | | | |
| Amount of gain (loss) reclassified from AOCI to income | (2) | | — |
| Cross-currency swaps: | | | |
First 8 of 10 rows. The CSV has all of them.
Table 81 after “The following table presents the fair value and the location on the Balance Sheets of derivatives not designated as hedging instruments.”
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| March 31, 2019 | December 31, 2018 | | | | |
| Assets | Liabilities | | Assets | Liabilities | |
| Current: | | | | | | |
| Price Risk Management | | | | | | |
| Assets/Liabilities: | | | | | | |
| Interest rate swaps | $— | | $4 | | $— | $4 |
| Total current | — | | 4 | | — | 4 |
| March 31, 2019 | December 31, 2018 | | | | |
| Assets | Liabilities | | Assets | Liabilities | |
| Noncurrent: | | | | | | |
| Price Risk Management | | | | | | |
| Assets/Liabilities: | | | | | | |
| Interest rate swaps | — | | 17 | | — | 16 |
| Total noncurrent | — | | 17 | | — | 16 |
| Total derivatives | $— | | $21 | | $— | $20 |
Table 83 after “PPL, LKE, LG&E and KU have elected not to offset derivative assets and liabilities and not to offset net derivative positions against the ri”
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| Assets | Liabilities | | | | | | | | | | | |
| | Eligible for Offset | | | | Eligible for Offset | | | | | | | |
| Gross | DerivativeInstruments | | CashCollateralReceived | Net | Gross | | DerivativeInstruments | CashCollateralPledged | Net | | | |
| March 31, 2019 | | | | | | | | | | | | | |
| Treasury Derivatives | | | | | | | | | | | | | |
| PPL | $281 | | $12 | | $17 | | $252 | | $34 | | $12 | $— | $22 |
| LKE | — | | — | | — | | — | | 21 | | — | — | 21 |
| LG&E | — | | — | | — | | — | | 21 | | — | — | 21 |
| Assets | Liabilities | | | | | | | | | | | |
| | Eligible for Offset | | | | Eligible for Offset | | | | | | | |
| Gross | DerivativeInstruments | | CashCollateralReceived | Net | Gross | | DerivativeInstruments | CashCollateralPledged | Net | | | |
| December 31, 2018 | | | | | | | | | | | | | |
| Treasury Derivatives | | | | | | | | | | | | | |
| PPL | $337 | | $2 | | $40 | | $295 | | $22 | | $2 | $— | $20 |
| LKE | — | | — | | — | | — | | 20 | | — | — | 20 |
| LG&E | — | | — | | — | | — | | 20 | | — | — | 20 |
Table 85 after “, derivative contracts in a net liability position that contain credit risk-related contingent features, collateral posted on those position”
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| PPL | LKE | | LG&E | |
| Aggregate fair value of derivative instruments in a net liability position with credit risk-related contingent features | $7 | | $5 | | $5 |
| Aggregate fair value of collateral posted on these derivative instruments | — | | — | | — |
| Aggregate fair value of additional collateral requirements in the event of a credit downgrade below investment grade (a) | 7 | | 5 | | 5 |
Table 86 after “The changes in the carrying amounts of AROs were as follows.”
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| PPL | LKE | | LG&E | KU | |
| Balance at December 31, 2018 | $347 | | $296 | | $103 | $193 |
| Accretion | 4 | | 4 | | 2 | 2 |
| Effect of foreign exchange rates | 2 | | — | | — | — |
| Changes in estimated timing or cost | 8 | | 8 | | 8 | — |
| Obligations settled | (21) | | (21) | | (4) | (17) |
| Balance at March 31, 2019 | $340 | | $287 | | $109 | $178 |
| Foreigncurrencytranslationadjustments | Unrealized gains (losses) on qualifyingderivatives | | Defined benefit plans | | | |
| | Priorservicecosts | | Actuarialgain(loss) | Total | | |
| PPL | | | | | | | |
| December 31, 2018 | $(1,533) | | $(7) | | $(19) | $(2,405) | $(3,964) |
| Amounts arising during the period | 294 | | (19) | | — | (3) | 272 |
| Reclassifications from AOCI | — | | 24 | | — | 21 | 45 |
| Net OCI during the period | 294 | | 5 | | — | 18 | 317 |
| March 31, 2019 | $(1,239) | | $(2) | | $(19) | $(2,387) | $(3,647) |
First 8 of 13 rows. The CSV has all of them.
| Three Months | Affected Line Item on the | | | |
| Details about AOCI | 2019 | 2018 | | Statements of Income | |
| Qualifying derivatives | | | | | |
| Interest rate swaps | $(2) | | $(2) | | Interest Expense |
| Cross-currency swaps | (28) | | (12) | | Other Income (Expense) - net |
| Total Pre-tax | (30) | | (14) | | |
| Income Taxes | 6 | | 2 | | |
| Total After-tax | (24) | | (12) | | |
First 8 of 14 rows. The CSV has all of them.
Table 89 after “includes the following results.”
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| Three Months | | | | |
| 2019 | 2018 | | $ Change | |
| Operating Revenues | $2,079 | | $2,126 | | $(47) |
| Operating Expenses | | | | | |
| Operation | | | | | |
| Fuel | 194 | | 214 | | (20) |
| Energy purchases | 250 | | 241 | | 9 |
| Other operation and maintenance | 490 | | 468 | | 22 |
First 8 of 15 rows. The CSV has all of them.
| Three Months |
| Domestic: | |
| PPL Electric Distribution price (a) | $9 |
| PPL Electric Distribution volume | 2 |
| PPL Electric PLR (b) | 10 |
| PPL Electric Transmission Formula Rate (c) | 7 |
| PPL Electric TCJA refund (d) | (24) |
| LKE Volumes (e) | (30) |
First 8 of 20 rows. The CSV has all of them.
| Three Months |
| Domestic: | |
| Storm costs | $11 |
| LKE vegetation management | 2 |
| LKE gas distribution maintenance and compliance | 2 |
| Other | 21 |
| U.K.: | |
| Foreign currency exchange rates | (7) |
First 8 of 12 rows. The CSV has all of them.
| Three Months |
| Additions to PP&E, net | $18 |
| Foreign currency exchange rates | (4) |
| Other | 1 |
| Total | $15 |
| Three Months |
| Economic foreign currency exchange contracts (Note 15) | $79 |
| Defined benefit plans - non-service credits (Note 10) | 12 |
| Other | 4 |
| Total | $95 |
| Three Months |
| Long-term debt interest expense | $4 |
| Foreign currency exchange rates | (6) |
| Other | 4 |
| Total | $2 |
| Three Months |
| Change in pre-tax income | $2 |
| Federal and state tax reserve adjustments | 3 |
| Other | 4 |
| Total | $9 |
| Three Months | | | | |
| 2019 | 2018 | | $ Change | |
| U.K. Regulated | $264 | | $197 | | $67 |
| Kentucky Regulated | 117 | | 133 | | (16) |
| Pennsylvania Regulated | 121 | | 148 | | (27) |
| Corporate and Other (a) | (36) | | (26) | | (10) |
| Net Income | $466 | | $452 | | $14 |
| Three Months | | | | |
| 2019 | 2018 | | $ Change | |
| U.K. Regulated | $304 | | $262 | | $42 |
| Kentucky Regulated | 117 | | 133 | | (16) |
| Pennsylvania Regulated | 121 | | 148 | | (27) |
| Corporate and Other | (34) | | (26) | | (8) |
| Earnings from Ongoing Operations | $508 | | $517 | | $(9) |
Table 98 after “include the following results.”
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| Three Months | | | | |
| 2019 | 2018 | | $ Change | |
| Operating revenues | $583 | | $615 | | $(32) |
| Other operation and maintenance | 118 | | 132 | | (14) |
| Depreciation | 62 | | 62 | | — |
| Taxes, other than income | 32 | | 34 | | (2) |
| Total operating expenses | 212 | | 228 | | (16) |
| Other Income (Expense) - net | 45 | | (47) | | 92 |
First 8 of 13 rows. The CSV has all of them.
| Income Statement Line Item | | Three Months | | |
| | 2019 | | 2018 | |
| Foreign currency economic hedges, net of tax of $11, $17 (a) | Other Income (Expense) - net | | $(40) | | $(65) |
| Total Special Items | | | $(40) | | $(65) |
| Three Months |
| U.K. | |
| U.K. Adjusted Gross Margins | $10 |
| Other operation and maintenance | 5 |
| Depreciation | (5) |
| Other Income (Expense) - net | 19 |
| Interest expense | 2 |
| Income taxes | (5) |
First 8 of 15 rows. The CSV has all of them.
Table 101 after “include the following results.”
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| Three Months | | | | |
| 2019 | 2018 | | $ Change | |
| Operating revenues | $845 | | $872 | | $(27) |
| Fuel | 194 | | 214 | | (20) |
| Energy purchases | 79 | | 80 | | (1) |
| Other operation and maintenance | 214 | | 205 | | 9 |
| Depreciation | 123 | | 117 | | 6 |
| Taxes, other than income | 18 | | 17 | | 1 |
First 8 of 15 rows. The CSV has all of them.
| Three Months |
| Kentucky Adjusted Gross Margins | $(5) |
| Other operation and maintenance | (12) |
| Depreciation | (4) |
| Taxes, other than income | (1) |
| Other Income (Expense) - net | 3 |
| Interest Expense | (3) |
| Income Taxes | 6 |
First 8 of 9 rows. The CSV has all of them.
Table 103 after “include the following results.”
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| Three Months | | | | |
| 2019 | 2018 | | $ Change | |
| Operating revenues | $645 | | $639 | | $6 |
| Energy purchases | 171 | | 161 | | 10 |
| Other operation and maintenance | 150 | | 133 | | 17 |
| Depreciation | 95 | | 85 | | 10 |
| Taxes, other than income | 31 | | 32 | | (1) |
| Total operating expenses | 447 | | 411 | | 36 |
First 8 of 14 rows. The CSV has all of them.
Table 104 after “The changes in the components of the Pennsylvania Regulated segment's results between these periods are due to the factors set forth below, ”
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| Three Months |
| Pennsylvania Adjusted Gross Margins | $(11) |
| Other operation and maintenance | (12) |
| Depreciation | (8) |
| Taxes, other than income | 1 |
| Other Income (Expense) - net | 1 |
| Interest Expense | (5) |
| Income Taxes | 7 |
First 8 of 9 rows. The CSV has all of them.
| 2019 Three Months | | | | | | | |
| U.K. Regulated | KY Regulated | | PA Regulated | Corporate and Other | Total | | |
| Net Income | $264 | | $117 | | $121 | | $(36) | $466 |
| Less: Special Items (expense) benefit: | | | | | | | | |
| Foreign currency economic hedges, net of tax of $11 | (40) | | — | | — | | — | (40) |
| Talen litigation costs, net of tax of $0 (a) | — | | — | | — | | (2) | (2) |
| Total Special Items | (40) | | — | | — | | (2) | (42) |
| Earnings from Ongoing Operations | $304 | | $117 | | $121 | | $(34) | $508 |
First 8 of 15 rows. The CSV has all of them.
Table 106 after “as well as the change between periods. The factors that gave rise to the changes are described following the table.”
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| Three Months | | | | |
| 2019 | 2018 | | $ Change | |
| U.K. Regulated | | | | | |
| U.K. Adjusted Gross Margins | $546 | | $572 | | $(26) |
| Impact of changes in foreign currency exchange rates | | | | (36) | |
| U.K. Adjusted Gross Margins excluding impact of foreign currency exchange rates | | | | $10 | |
| Kentucky Regulated | | | | | |
| Kentucky Adjusted Gross Margins | | | | | |
First 8 of 16 rows. The CSV has all of them.
| 2019 Three Months | | | | | | | |
| U.K. Adjusted Gross Margins | Kentucky Adjusted Gross Margins | | Pennsylvania Adjusted Gross Margins | Other (a) | Operating Income (b) | | |
| Operating Revenues | $574 | (c) | $845 | | $645 | | $15 | $2,079 |
| Operating Expenses | | | | | | | | |
| Fuel | — | | 194 | | — | | — | 194 |
| Energy purchases | — | | 79 | | 171 | | — | 250 |
| Other operation and maintenance | 28 | | 22 | | 31 | | 409 | 490 |
| Depreciation | — | | 19 | | 10 | | 255 | 284 |
First 8 of 22 rows. The CSV has all of them.
Table 108 after “includes the following results.”
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| Three Months | | | | |
| 2019 | 2018 | | $ Change | |
| Operating Revenues | $645 | | $639 | | $6 |
| Operating Expenses | | | | | |
| Operation | | | | | |
| Energy purchases | 171 | | 161 | | 10 |
| Other operation and maintenance | 150 | | 133 | | 17 |
| Depreciation | 95 | | 85 | | 10 |
First 8 of 15 rows. The CSV has all of them.
| Three Months |
| Distribution price (a) | $9 |
| Distribution volume | 2 |
| PLR (b) | 10 |
| Transmission Formula Rate (c) | 7 |
| TCJA refund (d) | (24) |
| Other | 2 |
| Total | $6 |
| Three Months |
| Corporate service costs | $2 |
| Storm costs | 9 |
| Other | 6 |
| Total | $17 |
| Three Months Ended | | |
| March 31, | | |
| 2019 | 2018 | |
| Net Income | $121 | | $148 |
| Special Item, gain (loss), after-tax (a) | — | | — |
Table 112 after “The table below quantifies the changes in the components of Net Income between these periods, which reflect amounts classified as Pennsylvan”
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| Three Months |
| Pennsylvania Adjusted Gross Margins | $(11) |
| Other operation and maintenance | (12) |
| Depreciation | (8) |
| Taxes, other than income | 1 |
| Other Income (Expense) - net | 1 |
| Interest Expense | (5) |
| Income Taxes | 7 |
First 8 of 9 rows. The CSV has all of them.
| 2019 Three Months | 2018 Three Months | | | | | | | | |
| Adjusted Gross Margins | Other (a) | | OperatingIncome (b) | Adjusted Gross Margins | Other (a) | | OperatingIncome (b) | | |
| Operating Revenues | $645 | | $— | | $645 | | $639 | | $— | $639 |
| Operating Expenses | | | | | | | | | | |
| Energy purchases | 171 | | — | | 171 | | 161 | | — | 161 |
| Other operation and maintenance | 31 | | 119 | | 150 | | 26 | | 107 | 133 |
| Depreciation | 10 | | 85 | | 95 | | 8 | | 77 | 85 |
| Taxes, other than income | 30 | | 1 | | 31 | | 30 | | 2 | 32 |
First 8 of 10 rows. The CSV has all of them.
Table 114 after “includes the following results.”
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| Three Months | | | | |
| 2019 | 2018 | | $ Change | |
| Operating Revenues | $845 | | $872 | | $(27) |
| Operating Expenses | | | | | |
| Operation | | | | | |
| Fuel | 194 | | 214 | | (20) |
| Energy purchases | 79 | | 80 | | (1) |
| Other operation and maintenance | 214 | | 205 | | 9 |
First 8 of 16 rows. The CSV has all of them.
| Three Months |
| Volumes (a) | $(30) |
| Fuel and other energy prices | (10) |
| ECR | 4 |
| TCJA refund (b) | 4 |
| Other | 5 |
| Total | $(27) |
| Three Months |
| Storm costs | $2 |
| Vegetation management | 2 |
| Gas distribution maintenance and compliance | 2 |
| Other | 3 |
| Total | $9 |
| Three Months Ended | | |
| March 31, | | |
| 2019 | 2018 | |
| Net Income | $124 | | $142 |
| Special items, gains (losses), after-tax (a) | — | | — |
Table 118 after “The table below quantifies the changes in the components of Net Income between these periods, which reflect amounts classified as Adjusted G”
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| Three Months |
| Adjusted Gross Margins | $(5) |
| Other operation and maintenance | (12) |
| Depreciation | (4) |
| Taxes, other than income | (1) |
| Other Income (Expense) - net | 3 |
| Interest Expense | (6) |
| Income Taxes | 7 |
First 8 of 9 rows. The CSV has all of them.
| 2019 Three Months | 2018 Three Months | | | | | | | | |
| Adjusted Gross Margins | Other (a) | | Operating Income (b) | Adjusted Gross Margins | Other (a) | | Operating Income (b) | | |
| Operating Revenues | $845 | | $— | | $845 | | $872 | | $— | $872 |
| Operating Expenses | | | | | | | | | | |
| Fuel | 194 | | — | | 194 | | 214 | | — | 214 |
| Energy purchases | 79 | | — | | 79 | | 80 | | — | 80 |
| Other operation and maintenance | 22 | | 192 | | 214 | | 25 | | 180 | 205 |
| Depreciation | 19 | | 104 | | 123 | | 17 | | 100 | 117 |
First 8 of 11 rows. The CSV has all of them.
Table 120 after “includes the following results.”
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| Three Months | | | | |
| 2019 | 2018 | | $ Change | |
| Operating Revenues | | | | | |
| Retail and wholesale | $397 | | $407 | | $(10) |
| Electric revenue from affiliate | 13 | | 12 | | 1 |
| Total Operating Revenues | 410 | | 419 | | (9) |
| Operating Expenses | | | | | |
| Operation | | | | | |
First 8 of 19 rows. The CSV has all of them.
| Three Months |
| Volumes (a) | $(15) |
| Fuel and other energy prices | (1) |
| ECR | 2 |
| TCJA refund (b) | 1 |
| Other | 4 |
| Total | $(9) |
| Three Months |
| Gas distribution maintenance and compliance | $2 |
| Storm costs | 1 |
| Vegetation management | 1 |
| Other | 1 |
| Total | $5 |
| Three Months Ended | | |
| March 31, | | |
| 2019 | 2018 | |
| Net Income | $64 | | $72 |
| Special items, gains (losses), after-tax (a) | — | | — |
| Three Months |
| Adjusted Gross Margins | $(3) |
| Other operation and maintenance | (5) |
| Depreciation | (3) |
| Taxes, other than income | 1 |
| Other Income (Expense) - net | 1 |
| Interest Expense | (3) |
| Income Taxes | 4 |
First 8 of 9 rows. The CSV has all of them.
| 2019 Three Months | 2018 Three Months | | | | | | | | |
| Adjusted Gross Margins | Other (a) | | Operating Income (b) | Adjusted Gross Margins | Other (a) | | Operating Income (b) | | |
| Operating Revenues | $410 | | $— | | $410 | | $419 | | $— | $419 |
| Operating Expenses | | | | | | | | | | |
| Fuel | 78 | | — | | 78 | | 79 | | — | 79 |
| Energy purchases, including affiliate | 76 | | — | | 76 | | 82 | | — | 82 |
| Other operation and maintenance | 9 | | 85 | | 94 | | 9 | | 80 | 89 |
| Depreciation | 8 | | 43 | | 51 | | 8 | | 40 | 48 |
First 8 of 11 rows. The CSV has all of them.
Table 126 after “includes the following results.”
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| Three Months | | | | |
| 2019 | 2018 | | $ Change | |
| Operating Revenues | | | | | |
| Retail and wholesale | $448 | | $465 | | $(17) |
| Electric revenue from affiliate | 2 | | 6 | | (4) |
| Total Operating Revenues | 450 | | 471 | | (21) |
| Operating Expenses | | | | | |
| Operation | | | | | |
First 8 of 19 rows. The CSV has all of them.
| Three Months |
| Volumes (a) | $(16) |
| Fuel and other energy prices | (10) |
| TCJA refund (b) | 3 |
| ECR | 2 |
| Total | $(21) |
| Three Months Ended | | |
| March 31, | | |
| 2019 | 2018 | |
| Net Income | $81 | | $87 |
| Special items, gains (losses), after-tax (a) | — | | — |
Table 129 after “The table below quantifies the changes in the components of Net Income between these periods, which reflect amounts classified as Adjusted G”
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| Three Months |
| Adjusted Gross Margins | $(2) |
| Other operation and maintenance | (6) |
| Depreciation | (2) |
| Taxes, other than income | (2) |
| Other Income (Expense) - net | 5 |
| Interest Expense | (1) |
| Income Taxes | 2 |
First 8 of 9 rows. The CSV has all of them.
| 2019 Three Months | 2018 Three Months | | | | | | | | |
| Adjusted Gross Margins | Other (a) | | Operating Income (b) | Adjusted Gross Margins | Other (a) | | Operating Income (b) | | |
| Operating Revenues | $450 | | $— | | $450 | | $471 | | $— | $471 |
| Operating Expenses | | | | | | | | | | |
| Fuel | 116 | | — | | 116 | | 135 | | — | 135 |
| Energy purchases, including affiliate | 18 | | — | | 18 | | 16 | | — | 16 |
| Other operation and maintenance | 13 | | 95 | | 108 | | 16 | | 89 | 105 |
| Depreciation | 11 | | 61 | | 72 | | 9 | | 59 | 68 |
First 8 of 11 rows. The CSV has all of them.
Table 131 after “The Registrants had the following at:”
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| PPL (a) | PPL Electric | | LKE | | LG&E | KU | | | |
| March 31, 2019 | | | | | | | | | | |
| Cash and cash equivalents | $518 | | $23 | | | $22 | | $9 | | $13 |
| Short-term debt | 1,428 | | 60 | | | 69 | | 69 | | — |
| Long-term debt due within one year | 202 | | — | | | 202 | | 106 | | 96 |
| Notes payable with affiliates | | — | | | 187 | | — | | — | |
| December 31, 2018 | | | | | | | | | | |
| Cash and cash equivalents | $621 | | $267 | | | $24 | | $10 | | $14 |
First 8 of 11 rows. The CSV has all of them.
Table 132 after “, and the changes between periods, were as follows.”
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| PPL | PPL Electric | | LKE | LG&E | KU | | |
| 2019 | | | | | | | | |
| Operating activities | $474 | | $81 | | $270 | | $157 | $174 |
| Investing activities | (722) | | (264) | | (278) | | (117) | (161) |
| Financing activities | 142 | | (61) | | 6 | | (41) | (14) |
| 2018 | | | | | | | | |
| Operating activities | $566 | | $76 | | $278 | | $146 | $185 |
| Investing activities | (753) | | (246) | | (294) | | (150) | (143) |
First 8 of 13 rows. The CSV has all of them.
| PPL | PPL Electric | | LKE | LG&E | KU | | |
| Change - Cash Provided (Used) | | | | | | | | |
| Net income | $14 | | $(27) | | $(18) | | $(8) | $(6) |
| Non-cash components | (3) | | 5 | | 38 | | 11 | 19 |
| Working capital | (138) | | (5) | | (102) | | (51) | (57) |
| Defined benefit plan funding | 23 | | 7 | | 87 | | 55 | 47 |
| Other operating activities | 12 | | 25 | | (13) | | 4 | (14) |
| Total | $(92) | | $5 | | $(8) | | $11 | $(11) |
| PPL | PPL Electric | | LKE | LG&E | KU | | |
| Decrease (Increase) | $21 | | $(19) | | $16 | | $33 | $(18) |
| PPL | PPL Electric | | LKE | | LG&E | KU | | | |
| Change - Cash Provided (Used) | | | | | | | | | | |
| Debt issuance/retirement, net | $(144) | | $— | | | $(100) | | $(100) | | $— |
| Stock issuances/redemptions, net | (78) | | — | | | — | | — | | — |
| Dividends | (23) | | (48) | | | — | | 4 | | 40 |
| Capital contributions/distributions, net | | — | | | 13 | | — | | 28 | |
| Change in short-term debt, net | 55 | | (153) | | | 17 | | 52 | | (35) |
| Notes payable with affiliate | | — | | | 62 | | — | | — | |
First 8 of 10 rows. The CSV has all of them.
| CommittedCapacity | | Borrowed | | Letters ofCreditandCommercialPaper Issued | | UnusedCapacity | | | | |
| PPL Capital Funding Credit Facilities | $1,550 | | | $— | | | $983 | | $567 | | |
| PPL Electric Credit Facility | 650 | | | — | | | 61 | | 589 | | |
| LG&E Credit Facilities (a) | 700 | | | 200 | | | 269 | | 231 | | |
| KU Credit Facilities (b) | 598 | | | — | | | 431 | | 167 | | |
| Total LKE | 1,298 | | | 200 | | | 700 | | 398 | | |
| Total U.S. Credit Facilities (c) | $3,498 | | | $200 | | | $1,744 | | $1,554 | | |
| Total U.K. Credit Facilities (d) | £ | 1,055 | | | £ | 250 | | £ | — | £ | 803 |
| CommittedCapacity | Borrowed | | Non-affiliate UsedCapacity | UnusedCapacity | |
| LKE Credit Facility | $375 | | $187 | | $— | $188 |
| LG&E Money Pool (a) | 500 | | — | | 269 | 231 |
| KU Money Pool (a) | 500 | | — | | 233 | 267 |
| Capacity | CommercialPaperIssuances | | UnusedCapacity | |
| PPL Capital Funding | $1,500 | | $968 | | $532 |
| PPL Electric | 650 | | 60 | | 590 |
| LG&E | 350 | | 269 | | 81 |
| KU | 350 | | 233 | | 117 |
| Total LKE | 700 | | 502 | | 198 |
| Total PPL | $2,850 | | $1,530 | | $1,320 |
| ExposureHedged | Fair Value,Net - Asset(Liability) (a) | | Effect of a10% AdverseMovementin Rates (b) | MaturitiesRangingThrough | |
| PPL | | | | | | |
| Cash flow hedges | | | | | | |
| Cross-currency swaps (c) | $702 | | $119 | | $(77) | 2028 |
| Economic hedges | | | | | | |
| Interest rate swaps (d) | 147 | | (21) | | (1) | 2033 |
| LKE | | | | | | |
| Economic hedges | | | | | | |
First 8 of 12 rows. The CSV has all of them.
| 10% AdverseMovementin Rates |
| PPL | $672 |
| PPL Electric | 185 |
| LKE | 164 |
| LG&E | 60 |
| KU | 89 |
| ExposureHedged | | Fair Value,Net - Asset(Liability) | Effect of a10%AdverseMovementin ForeignCurrencyExchangeRates (a) | MaturitiesRangingThrough | | |
| Economic hedges (b) | £ | 1,258 | | $150 | | $(149) | 2020 |
| 4(a) | - | Supplemental Indenture No 7, dated as of March 1, 2019, to Indenture, dated as of October 1, 2010, between Louisville Gas and Electric Company to The Bank of New York Mellon, as Trustee (Exhibit 4(a) to PPL Corporation Form 8-K Report (File No. 1-11459) dated April 1, 2019) |
| 4(b) | - | Supplemental Indenture No. 7, dated as of March 1, 2019, to Indenture, dated as of October 1, 2010, between Kentucky Utilities Company and The Bank of New York Mellon, as Trustee (Exhibit 4(b) to PPL Corporation Form 8-K Report (File No. 1-11459) dated April 1, 2019) |
| 10(a) | - | Amendment No. 4 to Credit Agreement dated as of March 8, 2019 to Revolving Credit Agreement dated as of July 28, 2014 (as previously amended) among PPL Capital Funding, Inc., as Borrower, PPL Corporation, as Guarantor, the Lenders party thereto and Wells Fargo, National Association, as Administrative Agent, Issuing Lender and Swingline Lender (Exhibit 10.1 to PPL Corporation Form 8-K Report (File No. 1-11459) dated March 8, 2019) |
| 10(b) | - | Fifth Amendment to Revolving Credit Agreement (as previously amended) dated as of March 8, 2019 among PPL Capital Funding, Inc., as Borrower, PPL Corporation, as guarantor, The Bank of Nova Scotia, as Administrative Agent and the Lenders from time to time party thereto (Exhibit 10.2 to PPL Corporation Form 8-K Report (File No. 1-11459) dated March 8, 2019) |
| 10(c) | - | Amendment No. 4 to Credit Agreement dated as of March 8, 2019 to Amended and Restated Revolving Credit Agreement dated as of July 28, 2014 (as previously amended) among PPL Electric Utilities Corporation, as Borrower, the Lenders party thereto and Wells Fargo, National Association, as Administrative Agent, Issuing Lender and Swingline Lender (Exhibit 10.3 to PPL Corporation Form 8-K Report (File No. 1-11459) dated March 8, 2019) |
| 10(d) | - | Amendment No. 4 to Credit Agreement dated as of March 8, 2019 to Amended and Restated Revolving Credit Agreement dated as of July 28, 2014 (as previously amended) among Louisville Gas and Electric Company, as Borrower, the Lenders party thereto and Wells Fargo, National Association, as Administrative Agent, Issuing Lender and Swingline Lender (Exhibit 10.4 to PPL Corporation Form 8-K Report (File No. 1-11459) dated March 8, 2019) |
| 10(e) | - | Amendment No. 4 to Credit Agreement dated as of March 8, 2019 to Amended and Restated Revolving Credit Agreement dated as of July 28, 2014 (as previously amended) among Kentucky Utilities Company, as Borrower, the Lenders party thereto and Wells Fargo, National Association, as Administrative Agent, Issuing Lender and Swingline Lender (Exhibit 10.5 to PPL Corporation Form 8-K Report (File No. 1-11459) dated March 8, 2019) |
| Certifications pursuant to Section 302 of the Sarbanes-Oxley Act of 2002, for the quarterly period ended March 31, 2019, filed by the following officers for the following companies: | | |
First 8 of 24 rows. The CSV has all of them.
| 101.INS | - | XBRL Instance Document |
| 101.SCH | - | XBRL Taxonomy Extension Schema |
| 101.CAL | - | XBRL Taxonomy Extension Calculation Linkbase |
| 101.DEF | - | XBRL Taxonomy Extension Definition Linkbase |
| 101.LAB | - | XBRL Taxonomy Extension Label Linkbase |
| 101.PRE | - | XBRL Taxonomy Extension Presentation Linkbase |