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Tables in the 10-Q of PPL Corp

112 tables with numbers, filed Aug 2, 2024. Each one downloads as an Excel file or a CSV (numbers are stored as numbers), 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 ↗

← Filings of PPL

Table 1 after “The following provides a reconciliation of Cash, Cash Equivalents and Restricted Cash reported within the Balance Sheets that sum to the tot”

PPL
June 30, 2024December 31, 2023
Cash and cash equivalents$282$331
Restricted cash - current (a)421
Total Cash, Cash Equivalents and Restricted Cash$324$332

Table 2 after “The following provides a reconciliation of Cash, Cash Equivalents and Restricted Cash reported within the Balance Sheets that sum to the tot”

PPL
June 30, 2024December 31, 2023
Cash and cash equivalents$282$331
Restricted cash - current (a)421
Total Cash, Cash Equivalents and Restricted Cash$324$332

Table 3 after “Table of Contents”

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549
FORM 10-Q
☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 for the quarterly period ended June 30, 2024
OR
☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 for the transition period from _________ to ___________

Table 4 after “Table of Contents”

Commission FileNumberRegistrant; State of Incorporation;Address and Telephone NumberIRS EmployerIdentification No.
1-11459PPL Corporation(Exact name of Registrant as specified in its charter)Pennsylvania645 Hamilton StreetAllentown, PA 18101(610) 774-5151Former Address:Two North Ninth StreetAllentown, PA 18101-117923-2758192
1-905PPL Electric Utilities Corporation (Exact name of Registrant as specified in its charter)Pennsylvania827 Hausman RoadAllentown, PA 18104-9392(610) 774-5151 Former Address:Two North Ninth StreetAllentown, PA 18101-117923-0959590
1-2893Louisville Gas and Electric Company(Exact name of Registrant as specified in its charter)Kentucky220 West Main StreetLouisville, KY 40202-1377(502) 627-200061-0264150
1-3464Kentucky Utilities Company(Exact name of Registrant as specified in its charter)Kentucky and VirginiaOne Quality StreetLexington, KY 40507-1462(502) 627-200061-0247570

Table 5 after “Unless otherwise specified, references in this Report, individually, to PPL Corporation, PPL Electric Utilities Corporation, Louisville Gas ”

Page
GLOSSARY OF TERMS AND ABBREVIATIONSi
FORWARD-LOOKING INFORMATION1
PART I. FINANCIAL INFORMATION
Item 1. Financial Statements
PPL Corporation and Subsidiaries
Condensed Consolidated Statements of Income4
Condensed Consolidated Statements of Comprehensive Income5

First 8 of 26 rows. The download has all of them.

Table 6 after “Table of Contents”

Combined Notes to Condensed Financial Statements (Unaudited)
Index to Combined Notes to Condensed Financial Statements28
1. Interim Financial Statements28
2. Segment and Related Information29
3. Revenue from Contracts with Customers30
4. Earnings Per Share33
5. Income Taxes33
6. Utility Rate Regulation35

First 8 of 48 rows. The download has all of them.

Table 7 after “(Millions of Dollars, except share data)”

Three Months Ended June 30,Six Months Ended June 30,
2024202320242023
Operating Revenues$1,881$1,823$4,185$4,238
Operating Expenses
Operation
Fuel181167390368
Energy purchases2753407951,074
Other operation and maintenance6236091,2491,168

First 8 of 23 rows. The download has all of them.

Table 8 after “(Millions of Dollars)”

Three Months Ended June 30,Six Months Ended June 30,
2024202320242023
Net income$190$112$497$397
Other comprehensive income (loss):
Amounts arising during the period - gains (losses), net of tax (expense) benefit:
Equity investees' other comprehensive income (loss), net of tax of $0, $0, $0, $0——11
Defined benefit plans:
Net actuarial gain (loss), net of tax of ($1), $5, ($1), $52(15)2(15)

First 8 of 15 rows. The download has all of them.

Table 9 after “(Millions of Dollars)”

Six Months Ended June 30,
20242023
Cash Flows from Operating Activities
Net income$497$397
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation635626
Amortization4739
Defined benefit plans - income(35)(36)

First 8 of 42 rows. The download has all of them.

Table 10 after “(Millions of Dollars, shares in thousands)”

June 30, 2024December 31, 2023
Assets
Current Assets
Cash and cash equivalents$282$331
Accounts receivable (less reserve: 2024, $133; 2023, $123)
Customer933950
Other109271
Unbilled revenues (less reserve: 2024, $3; 2023, $4)357428

First 8 of 29 rows. The download has all of them.

Table 11 after “(Millions of Dollars, shares in thousands)”

June 30, 2024December 31, 2023
Liabilities and Equity
Current Liabilities
Short-term debt$389$992
Long-term debt due within one year11
Accounts payable9801,104
Taxes109130
Interest145124

First 8 of 30 rows. The download has all of them.

Table 12 after “(Millions of Dollars)”

Common stock shares outstanding (a)Common stockAdditional paid-in capitalTreasury stockEarnings reinvestedAccumulated other comprehensive lossNoncontrolling interestsTotal
March 31, 2024737,736$8$12,314$(931)$2,828$(161)$—$14,058
Treasury stock issued26—11
Stock-based compensation77
Net income190190
Dividends and dividend equivalents (b)(192)(192)
Other comprehensive income (loss)11
June 30, 2024737,762$8$12,321$(930)$2,826$(160)$—$14,065

First 8 of 31 rows. The download has all of them.

Table 13 after “(Millions of Dollars)”

Three Months Ended June 30,Six Months Ended June 30,
2024202320242023
Operating Revenues$673$667$1,443$1,558
Operating Expenses
Operation
Energy purchases153204367562
Other operation and maintenance154141335303
Depreciation10099199198

First 8 of 17 rows. The download has all of them.

Table 14 after “(Millions of Dollars)”

Six Months Ended June 30,
20242023
Cash Flows from Operating Activities
Net income$299$248
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation199198
Amortization2518
Defined benefit plans - income(19)(22)

First 8 of 46 rows. The download has all of them.

Table 15 after “(Millions of Dollars, shares in thousands)”

June 30, 2024December 31, 2023
Assets
Current Assets
Cash and cash equivalents$13$51
Accounts receivable (less reserve: 2024, $45; 2023, $46)
Customer413434
Other98
Accounts receivable from affiliates810

First 8 of 27 rows. The download has all of them.

Table 16 after “(Millions of Dollars, shares in thousands)”

June 30, 2024December 31, 2023
Liabilities and Equity
Current Liabilities
Short-term debt$—$509
Accounts payable462454
Accounts payable to affiliates3444
Taxes1051
Interest5843

First 8 of 24 rows. The download has all of them.

Table 17 after “(Millions of Dollars)”

Common stock shares outstanding (a)Common stockAdditional paid-in capitalEarnings reinvestedTotal
March 31, 202466,368$364$4,715$1,560$6,639
Net income150150
Capital contributions from parent55
Dividends declared(96)(96)
June 30, 202466,368$364$4,720$1,614$6,698
December 31, 202366,368$364$4,040$1,499$5,903
Net income299299

First 8 of 22 rows. The download has all of them.

Table 18 after “(Millions of Dollars)”

Three Months Ended June 30,Six Months Ended June 30,
2024202320242023
Operating Revenues
Retail and wholesale$363$347$823$808
Electric revenue from affiliate381921
Total Operating Revenues366355842829
Operating Expenses
Operation

First 8 of 21 rows. The download has all of them.

Table 19 after “(Millions of Dollars)”

Six Months Ended June 30,
20242023
Cash Flows from Operating Activities
Net income$155$131
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation153151
Amortization86
Defined benefit plans - (income) expense—1

First 8 of 47 rows. The download has all of them.

Table 20 after “(Millions of Dollars, shares in thousands)”

June 30, 2024December 31, 2023
Assets
Current Assets
Cash and cash equivalents$8$18
Accounts receivable (less reserve: 2024, $4; 2023, $6)
Customer118116
Other2217
Unbilled revenues (less reserve: 2024, $0; 2023, $0)8288

First 8 of 27 rows. The download has all of them.

Table 21 after “(Millions of Dollars, shares in thousands)”

June 30, 2024December 31, 2023
Liabilities and Equity
Current Liabilities
Short-term debt$10$—
Notes payable to affiliates19—
Accounts payable148115
Accounts payable to affiliates5849
Customer deposits3534

First 8 of 31 rows. The download has all of them.

Table 22 after “(Millions of Dollars)”

Common stock shares outstanding (a)Common stockAdditional paid-in capitalEarnings reinvestedTotal
March 31, 202421,294$424$1,942$811$3,177
Net income6262
Capital contributions from parent3737
Dividends declared(60)(60)
June 30, 202421,294$424$1,979$813$3,216
December 31, 202321,294$424$1,993$755$3,172
Net income155155

First 8 of 23 rows. The download has all of them.

Table 23 after “(Millions of Dollars)”

Three Months Ended June 30,Six Months Ended June 30,
2024202320242023
Operating Revenues
Retail and wholesale$457$433$981$931
Electric revenue from affiliate7283
Total Operating Revenues464435989934
Operating Expenses
Operation

First 8 of 22 rows. The download has all of them.

Table 24 after “(Millions of Dollars)”

Six Months Ended June 30,
20242023
Cash Flows from Operating Activities
Net income$185$139
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation200196
Amortization99
Defined benefit plans - income(4)(2)

First 8 of 45 rows. The download has all of them.

Table 25 after “(Millions of Dollars, shares in thousands)”

June 30, 2024December 31, 2023
Assets
Current Assets
Cash and cash equivalents$11$14
Accounts receivable (less reserve: 2024, $2; 2023, $2)
Customer157143
Other1312
Unbilled revenues (less reserve: 2024, $0; 2023, $0)10797

First 8 of 26 rows. The download has all of them.

Table 26 after “(Millions of Dollars, shares in thousands)”

June 30, 2024December 31, 2023
Liabilities and Equity
Current Liabilities
Short-term debt$100$93
Notes payable to affiliates13—
Accounts payable7580
Accounts payable to affiliates9472
Customer deposits3835

First 8 of 29 rows. The download has all of them.

Table 27 after “(Millions of Dollars)”

Common stock shares outstanding (a)Common stockAdditional paid-in capitalEarnings reinvestedTotal
March 31, 202437,818$308$2,983$872$4,163
Net income7777
Capital contributions from parent8484
Dividends declared(70)(70)
June 30, 202437,818$308$3,067$879$4,254
December 31, 202337,818$308$3,033$811$4,152
Net income185185

First 8 of 23 rows. The download has all of them.

Table 28 after “The notes to the condensed financial statements that follow are a combined presentation. The following list indicates the Registrants to whi”

Registrant
PPLPPL ElectricLG&EKU
1. Interim Financial Statementsxxxx
2. Segment and Related Informationxxxx
3. Revenue from Contracts with Customersxxxx
4. Earnings Per Sharex
5. Income Taxesxxxx
6. Utility Rate Regulationxxxx

First 8 of 19 rows. The download has all of them.

Table 29 after “Income Statement data for the segments and reconciliation to PPL's consolidated results for the periods ended June 30 are as follows:”

Three MonthsSix Months
2024202320242023
Operating Revenues from external customers
Kentucky Regulated$819$778$1,803$1,738
Pennsylvania Regulated6736671,4431,558
Rhode Island Regulated389377938942
Corporate and Other—11—
Total$1,881$1,823$4,185$4,238

First 8 of 14 rows. The download has all of them.

Table 30 after “The following provides Balance Sheet data for the segments and reconciliation to PPL's consolidated Balance Sheets as of:”

June 30, 2024December 31, 2023
Assets
Kentucky Regulated$17,251$17,029
Pennsylvania Regulated15,22914,294
Rhode Island Regulated6,6836,515
Corporate and Other (a)6761,398
Total$39,839$39,236

Table 31 after “The following tables reconcile "Operating Revenues" included in each Registrant's Statement of Income with revenues generated from contracts”

2024 Three Months
PPLPPL ElectricLG&EKU
Operating Revenues (a)$1,881$673$366$464
Revenues derived from:
Alternative revenue programs (b)(3)(8)21
Other (c)(4)(3)(1)(1)
Revenues from Contracts with Customers$1,874$662$367$464
2023 Three Months

First 8 of 28 rows. The download has all of them.

Table 32 after “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
2024
PA Regulated$332$101$10$15$—$—$204$662
KY Regulated32624515775513—821
RI Regulated139423162——45391
Total PPL$797$388$170$252$5$13$249$1,874

First 8 of 22 rows. The download has all of them.

Table 33 after “The following tables show revenues from contracts with customers disaggregated by customer class for the periods ended June 30.”

Six Months
ResidentialCommercialIndustrialOther (a)Wholesale - municipalityWholesale - other (b)TransmissionRevenues from Contracts with Customers
PPL
2024
PA Regulated$758$207$22$28$—$—$409$1,424
KY Regulated7695123181721128—1,810
RI Regulated4001208324——92944
Total PPL$1,927$839$348$524$11$28$501$4,178

First 8 of 13 rows. The download has all of them.

Table 34 after “Table of Contents”

Six Months
ResidentialCommercialIndustrialOther (a)Wholesale - municipalityWholesale - other (b)TransmissionRevenues from Contracts with Customers
PPL Electric
2024$758$207$22$28$—$—$409$1,424
2023$968$253$34$26$—$—$277$1,558
LG&E
2024$381$259$93$83$—$28$—$844
2023$392$271$96$42$—$27$—$828

First 8 of 11 rows. The download has all of them.

Table 35 after “The following table shows the accounts receivable and unbilled revenues balances that were impaired for the periods ended June 30.”

Three MonthsSix Months
2024202320242023
PPL (a)$2$6$43$26
PPL Electric (a)(4)72417
LG&E——11
KU—111

Table 36 after “The following table shows the balances and certain activity of contract liabilities resulting from contracts with customers.”

PPLPPL ElectricLG&EKU
Contract liabilities at December 31, 2023$43$29$6$7
Contract liabilities at June 30, 2024312245
Revenue recognized during the six months ended June 30, 2024 that was included in the contract liability balance at December 31, 2023251167
Contract liabilities at December 31, 2022$34$23$5$6
Contract liabilities at June 30, 2023483567
Revenue recognized during the six months ended June 30, 2023 that was included in the contract liability balance at December 31, 202218756

Table 37 after “Reconciliations of the amounts of income and shares of PPL common stock (in thousands) for the periods ended June 30 used in the EPS calcula”

Three MonthsSix Months
2024202320242023
Income (Numerator)
Net income attributable to PPL$190$112$497$397
Less amounts allocated to participating securities1—11
Net income available to PPL common shareowners - Basic and Diluted$189$112$496$396
Shares of Common Stock (Denominator)
Weighted-average shares - Basic EPS737,748737,075737,630736,953

First 8 of 12 rows. The download has all of them.

Table 38 after “For the periods ended June 30, the following shares (in thousands) were excluded from the computations of diluted EPS because the effect wou”

Three MonthsSix Months
2024202320242023
Stock-based compensation awards—258—396

Table 39 after “Reconciliations of income tax expense (benefit) for the periods ended June 30 are as follows.”

(PPL)
Three MonthsSix Months
2024202320242023
Federal income tax on Income Before Income Taxes at statutory tax rate - 21%$50$30$132$107
Increase (decrease) due to:
State income taxes, net of federal income tax benefit11112833
Valuation allowance adjustments2557
Utility rate-making tax adjustments (a)(5)(2)(10)(7)

First 8 of 12 rows. The download has all of them.

Table 40 after “(a) Primarily consists of tax impacts of AFUDC equity and related depreciation across PPL's regulated utility subsidiaries and flow through ”

(PPL Electric)
Three MonthsSix Months
2024202320242023
Federal income tax on Income Before Income Taxes at statutory tax rate - 21%$41$31$83$70
Increase (decrease) due to:
State income taxes, net of federal income tax benefit13112624
Utility rate-making tax adjustments (a)(6)(3)(10)(7)
Amortization of excess deferred federal and state income taxes(3)(2)(5)(4)

First 8 of 11 rows. The download has all of them.

Table 41 after “(a) Primarily consists of tax impacts of AFUDC equity and related depreciation and flow through tax impacts of Pennsylvania utility ratemaki”

(LG&E)
Three MonthsSix Months
2024202320242023
Federal income tax on Income Before Income Taxes at statutory tax rate - 21%$17$12$41$35
Increase (decrease) due to:
State income taxes, net of federal income tax benefit3276
Amortization of excess deferred federal and state income taxes(3)(3)(6)(6)
Other——(1)(1)

First 8 of 10 rows. The download has all of them.

Table 42 after “(a) Primarily consists of tax impacts of AFUDC equity and related depreciation and flow through tax impacts of Pennsylvania utility ratemaki”

(KU)
Three MonthsSix Months
2024202320242023
Federal income tax on Income Before Income Taxes at statutory tax rate - 21%$20$13$48$36
Increase (decrease) due to:
State income taxes, net of federal income tax benefit4397
Amortization of excess deferred federal and state income taxes(4)(4)(9)(8)
Other(1)1(2)—

First 8 of 10 rows. The download has all of them.

Table 43 after “The following table provides information about the regulatory assets and liabilities of cost-based rate-regulated utility operations.”

PPLPPL ElectricLG&EKU
June 30, 2024December 31, 2023June 30, 2024December 31, 2023June 30, 2024December 31, 2023June 30, 2024December 31, 2023
Current Regulatory Assets:
Rate adjustment mechanisms$133$118$—$—$—$—$—$—
Renewable energy certificates1414——————
Derivative instruments1851——————
Smart meter rider7676————
Universal service rider10—10—————

First 8 of 33 rows. The download has all of them.

Table 44 after “Table of Contents”

PPLPPL ElectricLG&EKU
June 30, 2024December 31, 2023June 30, 2024December 31, 2023June 30, 2024December 31, 2023June 30, 2024December 31, 2023
Current Regulatory Liabilities:
Generation supply charge$72$51$72$51$—$—$—$—
Tax Cuts and Jobs Act customer refund—5—5————
Act 129 compliance rider715715————
Transmission formula rate921718————
Rate adjustment mechanism7972——————

First 8 of 23 rows. The download has all of them.

Table 45 after “The following credit facilities were in place at:”

June 30, 2024December 31, 2023
Expiration DateCapacityBorrowedLetters of Credit and Commercial Paper Issued (c)Unused CapacityBorrowedLetters of Credit and Commercial Paper Issued (c)
PPL
PPL Capital Funding (a)
Syndicated Credit Facility (b)Dec. 2028$1,250$—$280$970$—$390
Bilateral Credit FacilityFeb. 2025100——100——
Bilateral Credit FacilityFeb. 2025100—1486—13
Total PPL Capital Funding Credit Facilities$1,450$—$294$1,156$—$403

First 8 of 17 rows. The download has all of them.

Table 46 after “The following commercial paper programs were in place at:”

June 30, 2024December 31, 2023
Weighted - Average Interest RateCapacityCommercial Paper Issuances (c)Unused CapacityWeighted - Average Interest RateCommercial Paper Issuances (c)
PPL Capital Funding (a) (b)5.52%$1,350$280$1,0705.66%$365
RIE (b)400—4005.72%25
PPL Electric650—6505.67%510
LG&E5.51%50010490—
KU5.52%4001003005.64%93
Total$3,300$390$2,910$993

Table 47 after “Following are the net periodic defined benefit costs (credits) of the plans sponsored by PPL and its subsidiaries for the periods ended June”

Pension Benefits
Three MonthsSix Months
2024202320242023
PPL
Service cost$8$8$17$17
Interest cost46489294
Expected return on plan assets(75)(77)(150)(155)
Amortization of:

First 8 of 11 rows. The download has all of them.

Table 48 after “Table of Contents”

Other Postretirement Benefits
Three MonthsSix Months
2024202320242023
PPL
Service cost$2$1$3$3
Interest cost781415
Expected return on plan assets(8)(7)(15)(15)
Amortization of:

First 8 of 11 rows. The download has all of them.

Table 49 after “"Exposure" represents the estimated maximum potential amount of future payments that could be required to be made under the guarantee. The R”

Exposure at June 30, 2024Expiration Date
PPL
Indemnifications related to certain tax liabilities related to the sale of the U.K. utility business£50(a)2028
PPL guarantee of Safari payment obligations under certain sale/leaseback financing transactions related to the sale of Safari Holdings$113(b)2028
Indemnifications for losses suffered related to items not covered by Aspen Power's representation and warranty insurance associated with the sale of Safari Holdings140(c)2028
LG&E and KU
LG&E and KU obligation of shortfall related to OVEC(d)

Table 50 after “PPL Services and LKS charged the following amounts for the periods ended June 30, including amounts applied to accounts that are further dis”

Three MonthsSix Months
2024202320242023
PPL Electric from PPL Services$53$55$109$114
LG&E from LKS28285760
LG&E from PPL Services20123120
KU from LKS30346875
KU from PPL Services19133023

Table 51 after “The details of "Other Income (Expense) - net" for the periods ended June 30, were:”

Three MonthsSix Months
2024202320242023
Defined benefit plans - non-service credits (Note 9)$15$(1)$23$16
Interest income681517
AFUDC - equity component1282114
Charitable contributions(2)—(4)(2)
Miscellaneous (a)1(10)(1)(10)
Other Income (Expense) - net$32$5$54$35

Table 52 after “The details of "Other Income (Expense) - net" for the periods ended June 30, were:”

Three MonthsSix Months
2024202320242023
Defined benefit plans - non-service credits (Note 9)$4$5$9$10
Interest income1135
AFUDC - equity component74118
Charitable contributions(2)—(3)(2)
Miscellaneous1(1)——
Other Income (Expense) - net$11$9$20$21

Table 53 after “The details of "Other Income (Expense) - net" for the periods ended June 30, were:”

Three MonthsSix Months
2024202320242023
Defined benefit plans - non-service credits (Note 9)$2$(1)$2$—
Interest income——1—
AFUDC - equity component2131
Miscellaneous———1
Other Income (Expense) - net$4$—$6$2

Table 54 after “The details of "Other Income (Expense) - net" for the periods ended June 30, were:”

Three MonthsSix Months
2024202320242023
Defined benefit plans - non-service credits (Note 9)$3$3$4$4
Interest income——1—
AFUDC - equity component2131
Miscellaneous(1)(1)(2)—
Other Income (Expense) - net$4$3$6$5

Table 55 after “The assets and liabilities measured at fair value were:”

June 30, 2024December 31, 2023
TotalLevel 1Level 2Level 3TotalLevel 1Level 2Level 3
PPL
Assets
Cash and cash equivalents$282$282$—$—$331$331$—$—
Restricted cash and cash equivalents (a)4242——5151——
Total Cash, Cash Equivalents and Restricted Cash (b)324324——382382——
Special use funds (a):

First 8 of 30 rows. The download has all of them.

Table 56 after “Table of Contents”

June 30, 2024December 31, 2023
TotalLevel 1Level 2Level 3TotalLevel 1Level 2Level 3
Liabilities
Price risk management liabilities:
Interest rate swaps$4$—$4$—$7$—$7$—
Total price risk management liabilities$4$—$4$—$7$—$7$—
KU
Assets

First 8 of 12 rows. The download has all of them.

Table 57 after “A reconciliation of net assets classified as Level 3 for the six months ended June 30 is as follows:”

Gas Contracts
2024
Balance at beginning of period$(19)
Purchases2
Settlements19
Balance at end of period$2

Table 58 after “The carrying amounts of long-term debt on the Balance Sheets and their estimated fair values are set forth below.”

June 30, 2024December 31, 2023
Carrying Amount (a)Fair ValueCarrying Amount (a)Fair Value
PPL$15,757$14,794$14,612$14,031
PPL Electric5,2124,9294,5674,475
LG&E2,4702,3012,4692,369
KU3,0652,7653,0642,861

Table 59 after “The following table presents the fair value and the location on the Balance Sheets of derivatives not designated as hedging instruments.”

June 30, 2024December 31, 2023
AssetsLiabilitiesAssetsLiabilities
Current:
Price Risk Management Assets/Liabilities (a):
Interest rate swaps (b)$—$—$—$1
Gas contracts220151
Total current220152
Noncurrent:

First 8 of 13 rows. The download has all of them.

Table 60 after “Table of Contents”

Derivatives Not Designated as Hedging InstrumentsLocation of Gain (Loss) Recognized in Income on DerivativeThree MonthsSix Months
Gas contractsEnergy purchases$(9)$(25)
Total$(9)$(25)
Derivatives Not Designated as Hedging InstrumentsLocation of Gain (Loss) Recognized as Regulatory Liabilities/AssetsThree MonthsSix Months
Interest rate swapsRegulatory assets - noncurrent$1$2
Gas contractsRegulatory assets - current1133
Regulatory assets - noncurrent26
Total$14$41

Table 61 after “The following tables present the pre-tax effect of derivative instruments recognized in income, OCI or regulatory assets and regulatory liab”

Derivatives Not Designated as Hedging InstrumentsLocation of Gain (Loss) Recognized in Income on DerivativeThree MonthsSix Months
Interest rate swapsInterest expense$—$—
Gas contractsEnergy purchases(4)(6)
Other income (expense) - net(1)—
Total$(5)$(6)
Derivatives Not Designated as Hedging InstrumentsLocation of Gain (Loss) Recognized as Regulatory Liabilities/AssetsThree MonthsSix Months
Interest rate swapsRegulatory assets - noncurrent$2$1
Gas contractsRegulatory assets - current2(26)

First 8 of 10 rows. The download has all of them.

Table 62 after “The following table presents the effect of cash flow hedge activity on the Statement of Income for the period ended June 30, 2024.”

Location and Amount of Gain (Loss) Recognized in Income on Hedging Relationships
Three MonthsSix Months
Interest ExpenseInterest Expense
Total income and expense line items presented in the income statement in which the effect of cash flow hedges are recorded$182$361
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(1)(2)

Table 63 after “Table of Contents”

Location and Amount of Gain (Loss) Recognized in Income on Hedging Relationships
Three MonthsSix Months
Interest ExpenseInterest Expense
Total income and expense line items presented in the income statement in which the effect of cash flow hedges are recorded$165$329
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(1)(2)

Table 64 after “The following table presents the fair value and the location on the Balance Sheets of derivatives not designated as hedging instruments.”

June 30, 2024December 31, 2023
AssetsLiabilitiesAssetsLiabilities
Current:
Price Risk Management Assets/Liabilities:
Interest rate swaps$—$—$—$1
Total current———1
Noncurrent:
Price Risk Management Assets/Liabilities:

First 8 of 11 rows. The download has all of them.

Table 65 after “The table below summarizes the derivative positions presented in the balance sheets where a right of setoff exists under these arrangements ”

AssetsLiabilities
Eligible for OffsetEligible for Offset
GrossDerivative InstrumentsCash Collateral ReceivedNetGrossDerivative InstrumentsCash Collateral PledgedNet
June 30, 2024
Derivatives
PPL$2$1$—$1$26$1$—$25
LG&E————4——4

Table 66 after “The table below summarizes the derivative positions presented in the balance sheets where a right of setoff exists under these arrangements ”

AssetsLiabilities
Eligible for OffsetEligible for Offset
GrossDerivative InstrumentsCash Collateral ReceivedNetGrossDerivative InstrumentsCash Collateral PledgedNet
December 31, 2023
Derivatives
PPL$1$—$—$1$67$—$—$67
LG&E————7——7

Table 67 after “The changes in the carrying amounts of AROs were as follows.”

PPLLG&EKU
Balance at December 31, 2023$158$85$66
Accretion422
New obligations incurred (a)936
Changes in estimated cash flow or settlement date—1(1)
Obligations settled(10)(6)(4)
Balance at June 30, 2024$161$85$69

Table 68 after “The after-tax changes in AOCI by component for the periods ended June 30 were as follows.”

Unrealized gains (losses) on qualifying derivativesDefined benefit plans
Equity investees' AOCIPrior service costsActuarial gain (loss)Total
PPL
March 31, 2024$7$4$(4)$(168)$(161)
Amounts arising during the period———22
Reclassifications from AOCI———(1)(1)
Net OCI during the period———11
June 30, 2024$7$4$(4)$(167)$(160)

First 8 of 23 rows. The download has all of them.

Table 69 after “The following table presents PPL's gains (losses) and related income taxes for reclassifications from AOCI for the periods ended June 30.”

Three MonthsSix MonthsAffected Line Item on the
Details about AOCI2024202320242023Statements of Income
Qualifying derivatives
Interest rate swaps$(1)$(1)$(2)$(2)Interest Expense
Total Pre-tax(1)(1)(2)(2)
Income Taxes1111
Total After-tax——(1)(1)
Defined benefit plans

First 8 of 14 rows. The download has all of them.

Table 70 after “Net income for the periods ended June 30 includes the following results:”

Three MonthsSix Months
20242023$ Change20242023$ Change
Operating Revenues$1,881$1,823$58$4,185$4,238$(53)
Operating Expenses
Operation
Fuel1811671439036822
Energy purchases275340(65)7951,074(279)
Other operation and maintenance623609141,2491,16881

First 8 of 17 rows. The download has all of them.

Table 71 after “The increase (decrease) in operating revenues was due to:”

Three MonthsSix Months
PPL Electric distribution price (a)$20$23
PPL Electric distribution volume (b)2233
PPL Electric PLR (c)(53)(209)
PPL Electric transmission formula rate (d)1735
LG&E volumes (b)1427
LG&E fuel and other energy purchases (e)2(8)
KU volumes (b)1333

First 8 of 14 rows. The download has all of them.

Table 72 after “Table of Contents”

Three MonthsSix Months
PPL Electric storm costs$16$24
PPL Electric vegetation management expenses38
PPL Electric bad debts(11)7
PPL Electric operations costs(2)(15)
PPL Electric Act 12948
LG&E ECR expenses(5)(9)
KU ECR expenses(4)(7)

First 8 of 17 rows. The download has all of them.

Table 73 after “The increase (decrease) in taxes, other than income was due to:”

Three MonthsSix Months
State gross receipts tax (a)$(3)$(33)
Domestic property tax expense715
Total$4$(18)

Table 74 after “The increase (decrease) in other income (expense) - net was due to:”

Three MonthsSix Months
Defined benefit plans - non-service credits (Note 9)$16$7
Other1112
Total$27$19

Table 75 after “The increase (decrease) in interest expense was due to:”

Three MonthsSix Months
Long-term debt (a)$16$32
Other1—
Total$17$32

Table 76 after “Table of Contents”

Three MonthsSix Months
Change in pre-tax income$20$20
Valuation allowance adjustments(3)(2)
Utility rate-making adjustments (a)(3)(3)
Other34
Total$17$19

Table 77 after “PPL's Net Income (Loss) by reportable segment for the periods ended June 30 was as follows:”

Three MonthsSix Months
20242023$ Change20242023$ Change
Kentucky Regulated$134$91$43$324$257$67
Pennsylvania Regulated1501104029924851
Rhode Island Regulated12102766412
Corporate and Other (a)(106)(99)(7)(202)(172)(30)
Net Income (Loss)$190$112$78$497$397$100

Table 78 after “PPL's Earnings from Ongoing Operations by reportable segment for the periods ended June 30 were as follows:”

Three MonthsSix Months
20242023$ Change20242023$ Change
Kentucky Regulated$134$96$38$325$263$62
Pennsylvania Regulated1551173831625462
Rhode Island Regulated282351069412
Corporate and Other(35)(21)(14)(63)(44)(19)
Earnings from Ongoing Operations$282$215$67$684$567$117

Table 79 after “Net Income and Earnings from Ongoing Operations for the periods ended June 30 include the following results.”

Three MonthsSix Months
20242023$ Change20242023$ Change
Operating Revenues$819$778$41$1,803$1,738$65
Fuel1811671439036822
Energy purchases2228(6)99118(19)
Other operation and maintenance195217(22)397426(29)
Depreciation17717433533476
Taxes, other than income2423149463

First 8 of 15 rows. The download has all of them.

Table 80 after “The following after-tax gains (losses), which management considers special items, impacted the Kentucky Regulated segment's results and are ”

Income Statement Line ItemThree MonthsSix Months
2024202320242023
Strategic corporate initiatives, net of tax of $0, $0 (a)Other operation and maintenance$—$—$(1)$(1)
FERC transmission credit refund, net of tax of $2, $2 (b)Other operation and maintenance—(5)—(5)
Total Special Items$—$(5)$(1)$(6)

Table 81 after “The changes in the components of the Kentucky Regulated segment's results between these periods are due to the factors set forth below, whic”

Three MonthsSix Months
Operating Revenues$41$65
Fuel(14)(22)
Energy purchases619
Other operation and maintenance1622
Depreciation(3)(6)
Taxes, other than income(1)(3)
Other Income (Expense) - net66

First 8 of 13 rows. The download has all of them.

Table 82 after “Net Income and Earnings from Ongoing Operations for the periods ended June 30 include the following results.”

Three MonthsSix Months
20242023$ Change20242023$ Change
Operating Revenues$673$667$6$1,443$1,558$(115)
Energy purchases153204(51)367562(195)
Other operation and maintenance1541411333530332
Depreciation1009911991981
Taxes, other than income3030—6674(8)
Total Operating Expenses437474(37)9671,137(170)

First 8 of 15 rows. The download has all of them.

Table 83 after “The following after-tax gains (losses), which management considers special items, impacted the Pennsylvania Regulated segment's results and ”

Income Statement Line ItemThree MonthsSix Months
2024202320242023
PA tax rate change (a)Income Taxes$—$—$—$1
PPL Electric billing issue, net of tax of $1, $2, $5, $2 (b)Other operation and maintenance(2)(6)(13)(6)
PPL Electric billing issue, net of tax of $0, $0 (b)Other Income (Expense) - net—(1)—(1)
Strategic corporate initiatives, net of tax of $1, $1 (c)Other operation and maintenance(3)—(4)—
Total Special Items$(5)$(7)$(17)$(6)

Table 84 after “Table of Contents”

Three MonthsSix Months
Operating Revenues$6$(115)
Energy purchases51195
Other operation and maintenance(14)(18)
Depreciation(1)(1)
Taxes, other than income—8
Other Income (Expense) - net1(1)
Interest Income from Affiliate1020

First 8 of 13 rows. The download has all of them.

Table 85 after “Table of Contents”

Three MonthsSix Months
20242023$ Change20242023$ Change
Operating Revenues$389$377$12$938$942$(4)
Energy purchases100108(8)329394(65)
Other operation and maintenance1801582233627858
Depreciation4040—81792
Taxes, other than income393636680(14)
Total Operating Expenses35934217812831(19)

First 8 of 14 rows. The download has all of them.

Table 86 after “The following after-tax gains (losses), which management considers special items, impacted the Rhode Island Regulated segment's results and ”

Income Statement Line ItemThree MonthsSix Months
2024202320242023
Acquisition integration, net of tax of $4, $3, $8, $8 (a)Other operation and maintenance$(16)$(13)$(30)$(30)
Total Special Items$(16)$(13)$(30)$(30)

Table 87 after “The changes in the components of the Rhode Island Regulated segment's results between these periods are due to the factors set forth below, ”

Three MonthsSix Months
Operating Revenues$12$(4)
Energy purchases865
Other operation and maintenance(18)(58)
Depreciation—(2)
Taxes, other than income(3)14
Other Income (Expense) - net129
Interest Expense(3)(8)

First 8 of 12 rows. The download has all of them.

Table 88 after “The following tables contain after-tax gains (losses), in total, which management considers special items, that are excluded from Earnings f”

2024 Three Months
KY RegulatedPA RegulatedRI RegulatedCorporate and OtherTotal
Net Income (Loss)$134$150$12$(106)$190
Less: Special Items (expense) benefit:
Strategic corporate initiatives, net of tax of $1, $1 (a)—(3)—(2)(5)
Acquisition integration, net of tax of $4, $19 (b)——(16)(69)(85)
PPL Electric billing issue, net of tax of $1 (c)—(2)——(2)
Total Special Items—(5)(16)(71)(92)

First 8 of 9 rows. The download has all of them.

Table 89 after “Certain expenses related to billing issues. See Note 6 to the Financial Statements for additional information.”

2023 Three Months
KY RegulatedPA RegulatedRI RegulatedCorporate and OtherTotal
Net Income (Loss)$91$110$10$(99)$112
Less: Special Items (expense) benefit:
Talen litigation costs, net of tax of $1 (a)———(2)(2)
Strategic corporate initiatives, net of tax of $1 (b)———(3)(3)
Acquisition integration, net of tax of $3, $15 (c)——(13)(60)(73)
PPL Electric billing issue, net of tax of $2 (d)—(7)——(7)

First 8 of 12 rows. The download has all of them.

Table 90 after “Table of Contents”

2024 Six Months
KY RegulatedPA RegulatedRI RegulatedCorporate and OtherTotal
Net Income (Loss)$324$299$76$(202)$497
Less: Special Items (expense) benefit:
Strategic corporate initiatives, net of tax of $0, $1, $1 (a)(1)(4)—(4)(9)
Acquisition integration, net of tax of $8, $36 (b)——(30)(135)(165)
PPL Electric billing issue, net of tax of $5 (c)—(13)——(13)
Total Special Items(1)(17)(30)(139)(187)

First 8 of 9 rows. The download has all of them.

Table 91 after “Certain expenses related to billing issues. See Note 6 to the Financial Statements for additional information.”

2023 Six Months
KY RegulatedPA RegulatedRI RegulatedCorporate and OtherTotal
Net Income (Loss)$257$248$64$(172)$397
Less: Special Items (expense) benefit:
Talen litigation costs, net of tax of $1 (a)———(3)(3)
Strategic corporate initiatives, net of tax of $0, $1 (b)(1)——(4)(5)
Acquisition integration, net of tax of $8, $27 (c)——(30)(104)(134)
PA tax rate change (d)—1——1

First 8 of 14 rows. The download has all of them.

Table 92 after “Net income for the periods ended June 30 includes the following results.”

Three MonthsSix Months
20242023$ Change20242023$ Change
Operating Revenues$673$667$6$1,443$1,558$(115)
Operating Expenses
Operation
Energy purchases153204(51)367562(195)
Other operation and maintenance1541411333530332
Depreciation1009911991981

First 8 of 17 rows. The download has all of them.

Table 93 after “The increase (decrease) in operating revenues was due to:”

Three MonthsSix Months
Distribution price (a)$20$23
Distribution volume (b)2233
PLR (c)(53)(209)
Transmission formula rate (d)1735
Other—3
Total$6$(115)

Table 94 after “The increase (decrease) in other operation and maintenance was due to:”

Three MonthsSix Months
Support costs$(5)$(10)
Vegetation management expenses38
Storm costs1624
Operations costs(2)(15)
Universal service rider57
Bad debts(11)7
Act 12948

First 8 of 10 rows. The download has all of them.

Table 95 after “The increase (decrease) in income taxes was due to:”

Three MonthsSix Months
Change in pre-tax income$12$15
Utility rate-making adjustments (a)(3)(3)
Other(1)(1)
Total$8$11

Table 96 after “Net income for the periods ended June 30 includes the following results.”

Three MonthsSix Months
20242023$ Change20242023$ Change
Operating Revenues
Retail and wholesale$363$347$16$823$808$15
Electric revenue from affiliate38(5)1921(2)
Total Operating Revenues3663551184282913
Operating Expenses
Operation

First 8 of 21 rows. The download has all of them.

Table 97 after “The increase (decrease) in operating revenues was due to:”

Three MonthsSix Months
Fuel and other energy purchases (a)$(3)$(10)
Volumes (b)1427
Other—(4)
Total$11$13

Table 98 after “The increase (decrease) in other operation and maintenance was due to:”

Three MonthsSix Months
ECR expenses$(5)$(9)
Transmission expenses(2)(2)
Generation outage expenses36
Other(2)(4)
Total$(6)$(9)

Table 99 after “Net income for the periods ended June 30 includes the following results.”

Three MonthsSix Months
20242023$ Change20242023$ Change
Operating Revenues
Retail and wholesale$457$433$24$981$931$50
Electric revenue from affiliate725835
Total Operating Revenues4644352998993455
Operating Expenses
Operation

First 8 of 22 rows. The download has all of them.

Table 100 after “Table of Contents”

Three MonthsSix Months
Fuel and other energy purchases (a)$13$17
Volumes (b)1333
Other35
Total$29$55

Table 101 after “The increase (decrease) in other operation and maintenance was due to:”

Three MonthsSix Months
ECR expenses$(4)$(7)
Transmission expenses(6)(5)
Overhead line expenses(3)(4)
Other(3)(7)
Total$(16)$(23)

Table 102 after “The Registrants had the following at:”

PPLPPL ElectricLG&EKU
June 30, 2024
Cash and cash equivalents$282$13$8$11
Short-term debt389—10100
Long-term debt due within one year1———
Notes payable to affiliates—1913
December 31, 2023
Cash and cash equivalents$331$51$18$14

First 8 of 11 rows. The download has all of them.

Table 103 after “Net cash provided by (used in) operating, investing and financing activities for the six month periods ended June 30, and the changes betwee”

PPLPPL ElectricLG&EKU
2024
Operating activities$1,048$353$273$352
Investing activities(1,261)(1,020)(207)(296)
Financing activities155629(82)(63)
2023
Operating activities$842$236$358$298
Investing activities(1,096)(398)(194)(299)

First 8 of 13 rows. The download has all of them.

Table 104 after “The components of the change in cash provided by (used in) operating activities for the six months ended June 30, 2024 compared with 2023 we”

PPLPPL ElectricLG&EKU
Change - Cash Provided (Used)
Net income$100$51$24$46
Non-cash components101711(7)
Working capital2643(122)(4)
Defined benefit plan funding——(1)(1)
Other operating activities706320
Total$206$117$(85)$54

Table 105 after “The components of the change in cash provided by (used in) investing activities for the six months ended June 30, 2024 compared with 2023 we”

PPLPPL ElectricLG&EKU
Change - Cash Provided (Used)
Expenditures for PP&E$(176)$(124)$(21)$3
Notes receivable from affiliate—(502)8—
Other investing activities114——
Total$(165)$(622)$(13)$3

Table 106 after “The components of the change in cash provided by (used in) financing activities for the six months ended June 30, 2024 compared with 2023 we”

PPLPPL ElectricLG&EKU
Change - Cash Provided (Used)
Debt issuance/retirement, net$(216)$470$(99)$(86)
Dividends(19)(21)(10)(25)
Capital contributions/distributions, net—5058634
Change in short-term debt, net139(494)16816
Net increase (decrease) in notes payable with affiliate——195
Other financing activities27644

First 8 of 9 rows. The download has all of them.

Table 107 after “External”

Committed CapacityBorrowedLetters of Credit and Commercial Paper IssuedUnused Capacity
PPL Capital Funding Credit Facilities (a)$1,350$—$280$1,070
PPL Electric Credit Facility650—1649
LG&E Credit Facilities500—10490
KU Credit Facilities400—100300
Total Credit Facilities (b)$2,900$—$391$2,509

Table 108 after “(LG&E and KU)”

Committed CapacityBorrowedCommercial Paper IssuedUnused Capacity
LG&E Money Pool (a)$750$19$10$721
KU Money Pool (a)65013100537

Table 109 after “The Registrants, and PPL Capital Funding and RIE, maintain commercial paper programs to provide an additional financing source to fund short”

CapacityCommercial Paper IssuancesUnused Capacity
PPL Capital Funding (a)$1,350$280$1,070
Rhode Island Energy (a)400—400
PPL Electric650—650
LG&E50010490
KU400100300
Total PPL$3,300$390$2,910

Table 110 after “The following interest rate hedges were outstanding at June 30, 2024.”

Exposure HedgedFair Value, Net - Asset (Liability) (a)Effect of a 10% Adverse Movement in Rates (b)Maturities Ranging Through
PPL and LG&E
Economic hedges
Interest rate swaps (c)$64$(4)$(1)2033

Table 111 after “The Registrants are exposed to a potential increase in interest expense and to changes in the fair value of their debt portfolios. The estim”

10% Adverse Movement in Rates on Fair Value of Debt
PPL$627
PPL Electric269
LG&E93
KU135

Table 112 after “The following Exhibits indicated by an asterisk preceding the Exhibit number are filed herewith. The balance of the Exhibits has heretofore ”

3(a)-Amended and Restated Articles of Incorporation of PPL Corporation, effective as of May 25, 2016 (Exhibit 3(i) to PPL Corporation Form 8-K Report (File No. 1-11459) dated May 26, 2016)
*3(a).1-Certificate of Change: an amendment, effective as of July 31, 2024, to the Amended and Restated Articles of Incorporation of PPL Corporation, effective as of May 25, 2016
3(b)-Amended and Restated Articles of Incorporation of PPL Electric Utilities Corporation, effective as of October 31, 2013 (Exhibit 3(a) to PPL Electric Utilities Corporation Form 10-Q Report (File No. 1-905) for the quarter ended September 30, 2013)
*3(b).1-Certificate of Change: an amendment, effective as of July 31, 2024, to the Amended and Restated Articles of Incorporation of PPL Electric Utilities Corporation, effective as of October 31, 2013
Certifications pursuant to Section 302 of the Sarbanes-Oxley Act of 2002, for the quarterly period ended June 30, 2024, filed by the following officers for the following companies:
*31(a)-PPL Corporation's principal executive officer
*31(b)-PPL Corporation's principal financial officer
*31(c)-PPL Electric Utilities Corporation's principal executive officer

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