← Filings of PPL
Tables in the 10-Q of PPL Corp
111 tables with numbers, filed Nov 1, 2024. 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 ↗
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”
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| PPL | | |
| September 30, 2024 | December 31, 2023 | |
| Cash and cash equivalents | $542 | | $331 |
| Restricted cash - current (a) | 42 | | 1 |
| Total Cash, Cash Equivalents and Restricted Cash | $584 | | $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”
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| PPL | | |
| September 30, 2024 | December 31, 2023 | |
| Cash and cash equivalents | $542 | | $331 |
| Restricted cash - current (a) | 42 | | 1 |
| Total Cash, Cash Equivalents and Restricted Cash | $584 | | $332 |
| 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 September 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 ___________ |
| 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)Pennsylvania645 Hamilton StreetAllentown, PA 18101(610) 774-5151 | 23-2758192 |
| 1-905 | PPL Electric Utilities Corporation (Exact name of Registrant as specified in its charter)Pennsylvania827 Hausman RoadAllentown, PA 18104-9392(610) 774-5151 | 23-0959590 |
| 1-2893 | Louisville Gas and Electric Company(Exact name of Registrant as specified in its charter)Kentucky220 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 VirginiaOne Quality StreetLexington, KY 40507-1462(502) 627-2000 | 61-0247570 |
Table 5 after “Unless otherwise specified, references in this Report, individually, to PPL Corporation, PPL Electric Utilities Corporation, Louisville Gas ”
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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 | 4 |
| | | Condensed Consolidated Statements of Comprehensive Income | 5 |
First 8 of 26 rows. The CSV has all of them.
| Combined Notes to Condensed Financial Statements (Unaudited) | | | |
| | Index to Combined Notes to Condensed Financial Statements | 28 | |
| | 1. Interim Financial Statements | 28 | |
| | 2. Segment and Related Information | 29 | |
| | 3. Revenue from Contracts with Customers | 30 | |
| | 4. Earnings Per Share | 33 | |
| | 5. Income Taxes | 33 | |
| | 6. Utility Rate Regulation | 35 | |
First 8 of 48 rows. The CSV has all of them.
Table 7 after “(Millions of Dollars, except share data)”
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| Three Months Ended September 30, | Nine Months Ended September 30, | | | | |
| 2024 | 2023 | | 2024 | 2023 | |
| Operating Revenues | $2,066 | | $2,043 | | $6,251 | $6,281 |
| Operating Expenses | | | | | | |
| Operation | | | | | | |
| Fuel | 207 | | 199 | | 597 | 567 |
| Energy purchases | 338 | | 356 | | 1,133 | 1,430 |
| Other operation and maintenance | 681 | | 637 | | 1,930 | 1,805 |
First 8 of 23 rows. The CSV has all of them.
| Three Months Ended September 30, | Nine Months Ended September 30, | | | | |
| 2024 | 2023 | | 2024 | 2023 | |
| Net income | $214 | | $230 | | $711 | $627 |
| 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 | — | | — | | 1 | 1 |
| Defined benefit plans: | | | | | | |
| Net actuarial gain (loss), net of tax of $1, $2, $0, $7 | (4) | | (6) | | (2) | (21) |
First 8 of 15 rows. The CSV has all of them.
| Nine Months Ended September 30, | | |
| 2024 | 2023 | |
| Cash Flows from Operating Activities | | | |
| Net income | $711 | | $627 |
| Adjustments to reconcile net income to net cash provided by operating activities | | | |
| Depreciation | 957 | | 940 |
| Amortization | 61 | | 61 |
| Defined benefit plans - income | (52) | | (55) |
First 8 of 42 rows. The CSV has all of them.
Table 10 after “(Millions of Dollars, shares in thousands)”
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| September 30, 2024 | December 31, 2023 | |
| Assets | | | |
| Current Assets | | | |
| Cash and cash equivalents | $542 | | $331 |
| Accounts receivable (less reserve: 2024, $137; 2023, $123) | | | |
| Customer | 939 | | 950 |
| Other | 61 | | 271 |
| Unbilled revenues (less reserve: 2024, $3; 2023, $4) | 319 | | 428 |
First 8 of 29 rows. The CSV has all of them.
Table 11 after “(Millions of Dollars, shares in thousands)”
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| September 30, 2024 | December 31, 2023 | |
| Liabilities and Equity | | | |
| Current Liabilities | | | |
| Short-term debt | $— | | $992 |
| Long-term debt due within one year | 1 | | 1 |
| Accounts payable | 920 | | 1,104 |
| Taxes | 122 | | 130 |
| Interest | 228 | | 124 |
First 8 of 30 rows. The CSV has all of them.
| Common stock shares outstanding (a) | Common stock | Additional paid-in capital | Treasury stock | Earnings reinvested | Accumulated other comprehensive loss | Noncontrolling interests | Total | | | | | |
| June 30, 2024 | 737,762 | | $8 | | $12,321 | | $(930) | | $2,826 | | $(160) | $— | $14,065 |
| Common stock issued | 2 | | | | | | | | — | | | | |
| Treasury stock issued | 14 | | | | 1 | | | | | 1 | | | |
| Stock-based compensation | | | 7 | | | | | | 7 | | | | |
| Net income | | | | | 214 | | | | 214 | | | | |
| Dividends and dividend equivalents (b) | | | | | (192) | | | | (192) | | | | |
| Other comprehensive income (loss) | | | | | | (3) | | | (3) | | | | |
First 8 of 32 rows. The CSV has all of them.
| Three Months Ended September 30, | Nine Months Ended September 30, | | | | |
| 2024 | 2023 | | 2024 | 2023 | |
| Operating Revenues | $716 | | $737 | | $2,159 | $2,295 |
| Operating Expenses | | | | | | |
| Operation | | | | | | |
| Energy purchases | 177 | | 226 | | 544 | 788 |
| Other operation and maintenance | 176 | | 151 | | 511 | 454 |
| Depreciation | 101 | | 99 | | 300 | 297 |
First 8 of 17 rows. The CSV has all of them.
| Nine Months Ended September 30, | | |
| 2024 | 2023 | |
| Cash Flows from Operating Activities | | | |
| Net income | $441 | | $384 |
| Adjustments to reconcile net income to net cash provided by operating activities | | | |
| Depreciation | 300 | | 297 |
| Amortization | 35 | | 31 |
| Defined benefit plans - income | (30) | | (32) |
First 8 of 46 rows. The CSV has all of them.
Table 15 after “(Millions of Dollars, shares in thousands)”
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| September 30, 2024 | December 31, 2023 | |
| Assets | | | |
| Current Assets | | | |
| Cash and cash equivalents | $35 | | $51 |
| Accounts receivable (less reserve: 2024, $40; 2023, $46) | | | |
| Customer | 360 | | 434 |
| Other | 8 | | 8 |
| Accounts receivable from affiliates | 15 | | 10 |
First 8 of 27 rows. The CSV has all of them.
Table 16 after “(Millions of Dollars, shares in thousands)”
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| September 30, 2024 | December 31, 2023 | |
| Liabilities and Equity | | | |
| Current Liabilities | | | |
| Short-term debt | $— | | $509 |
| Accounts payable | 442 | | 454 |
| Accounts payable to affiliates | 35 | | 44 |
| Taxes | 15 | | 51 |
| Interest | 75 | | 43 |
First 8 of 24 rows. The CSV has all of them.
| Common stock shares outstanding (a) | Common stock | | Additional paid-in capital | Earnings reinvested | Total | | |
| June 30, 2024 | 66,368 | | $364 | | $4,720 | | $1,614 | $6,698 |
| Net income | | | | | 142 | | 142 | |
| Capital contributions from parent | | | | 5 | | | 5 | |
| Dividends declared | | | | | (99) | | (99) | |
| September 30, 2024 | 66,368 | | $364 | | $4,725 | | $1,657 | $6,746 |
| December 31, 2023 | 66,368 | | $364 | | $4,040 | | $1,499 | $5,903 |
| Net income | | | | | 441 | | 441 | |
First 8 of 22 rows. The CSV has all of them.
| Three Months Ended September 30, | Nine Months Ended September 30, | | | | |
| 2024 | 2023 | | 2024 | 2023 | |
| Operating Revenues | | | | | | |
| Retail and wholesale | $396 | | $396 | | $1,219 | $1,204 |
| Electric revenue from affiliate | 1 | | 2 | | 20 | 23 |
| Total Operating Revenues | 397 | | 398 | | 1,239 | 1,227 |
| Operating Expenses | | | | | | |
| Operation | | | | | | |
First 8 of 22 rows. The CSV has all of them.
| Nine Months Ended September 30, | | |
| 2024 | 2023 | |
| Cash Flows from Operating Activities | | | |
| Net income | $232 | | $210 |
| Adjustments to reconcile net income to net cash provided by operating activities | | | |
| Depreciation | 229 | | 227 |
| Amortization | 10 | | 9 |
| Deferred income taxes and investment tax credits | 3 | | (3) |
First 8 of 45 rows. The CSV has all of them.
Table 20 after “(Millions of Dollars, shares in thousands)”
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| September 30, 2024 | December 31, 2023 | |
| Assets | | | |
| Current Assets | | | |
| Cash and cash equivalents | $10 | | $18 |
| Accounts receivable (less reserve: 2024, $4; 2023, $6) | | | |
| Customer | 122 | | 116 |
| Other | 24 | | 17 |
| Unbilled revenues (less reserve: 2024, $0; 2023, $0) | 67 | | 88 |
First 8 of 27 rows. The CSV has all of them.
Table 21 after “(Millions of Dollars, shares in thousands)”
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| September 30, 2024 | December 31, 2023 | |
| Liabilities and Equity | | | |
| Current Liabilities | | | |
| Short-term debt | $— | | $— |
| Notes payable to affiliates | 34 | | — |
| Accounts payable | 127 | | 115 |
| Accounts payable to affiliates | 46 | | 49 |
| Customer deposits | 35 | | 34 |
First 8 of 31 rows. The CSV has all of them.
| Common stock shares outstanding (a) | Common stock | | Additional paid-in capital | Earnings reinvested | Total | | |
| June 30, 2024 | 21,294 | | $424 | | $1,979 | | $813 | $3,216 |
| Net income | | | | | 77 | | 77 | |
| Return of capital to parent | | | | (25) | | | (25) | |
| Dividends declared | | | | | (41) | | (41) | |
| September 30, 2024 | 21,294 | | $424 | | $1,954 | | $849 | $3,227 |
| December 31, 2023 | 21,294 | | $424 | | $1,993 | | $755 | $3,172 |
| Net income | | | | | 232 | | 232 | |
First 8 of 23 rows. The CSV has all of them.
| Three Months Ended September 30, | Nine Months Ended September 30, | | | | |
| 2024 | 2023 | | 2024 | 2023 | |
| Operating Revenues | | | | | | |
| Retail and wholesale | $498 | | $497 | | $1,479 | $1,428 |
| Electric revenue from affiliate | 11 | | 8 | | 19 | 11 |
| Total Operating Revenues | 509 | | 505 | | 1,498 | 1,439 |
| Operating Expenses | | | | | | |
| Operation | | | | | | |
First 8 of 22 rows. The CSV has all of them.
| Nine Months Ended September 30, | | |
| 2024 | 2023 | |
| Cash Flows from Operating Activities | | | |
| Net income | $283 | | $240 |
| Adjustments to reconcile net income to net cash provided by operating activities | | | |
| Depreciation | 302 | | 294 |
| Amortization | 14 | | 14 |
| Defined benefit plans - income | (8) | | (4) |
First 8 of 47 rows. The CSV has all of them.
Table 25 after “(Millions of Dollars, shares in thousands)”
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| September 30, 2024 | December 31, 2023 | |
| Assets | | | |
| Current Assets | | | |
| Cash and cash equivalents | $16 | | $14 |
| Accounts receivable (less reserve: 2024, $2; 2023, $2) | | | |
| Customer | 161 | | 143 |
| Other | 13 | | 12 |
| Unbilled revenues (less reserve: 2024, $0; 2023, $0) | 88 | | 97 |
First 8 of 27 rows. The CSV has all of them.
Table 26 after “(Millions of Dollars, shares in thousands)”
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| September 30, 2024 | December 31, 2023 | |
| Liabilities and Equity | | | |
| Current Liabilities | | | |
| Short-term debt | $— | | $93 |
| Notes payable to affiliates | 128 | | — |
| Accounts payable | 85 | | 80 |
| Accounts payable to affiliates | 78 | | 72 |
| Customer deposits | 39 | | 35 |
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 | | |
| June 30, 2024 | 37,818 | | $308 | | $3,067 | $879 | | | $4,254 |
| Net income | | | | | 98 | | | 98 | |
| Return of capital to parent | | | | (53) | | | | (53) | |
| Dividends declared | | | | | (50) | | | (50) | |
| September 30, 2024 | 37,818 | | $308 | | $3,014 | $927 | | | $4,249 |
| December 31, 2023 | 37,818 | | $308 | | $3,033 | $811 | | | $4,152 |
| Net income | | | | | 283 | | | 283 | |
First 8 of 23 rows. The CSV 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”
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| Registrant | | | |
| PPL | PPL Electric | LG&E | KU |
| 1. Interim Financial Statements | x | x | x | x |
| 2. Segment and Related Information | x | x | x | x |
| 3. Revenue from Contracts with Customers | x | x | x | x |
| 4. Earnings Per Share | x | | | |
| 5. Income Taxes | x | x | x | x |
| 6. Utility Rate Regulation | x | x | x | x |
First 8 of 19 rows. The CSV has all of them.
Table 29 after “Income Statement data for the segments and reconciliation to PPL's consolidated results for the periods ended September 30 are as follows:”
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| Three Months | Nine Months | | | | |
| 2024 | 2023 | | 2024 | 2023 | |
| Operating Revenues from external customers | | | | | | |
| Kentucky Regulated | $895 | | $893 | | $2,698 | $2,631 |
| Pennsylvania Regulated | 716 | | 737 | | 2,159 | 2,295 |
| Rhode Island Regulated | 455 | | 413 | | 1,393 | 1,355 |
| Corporate and Other | — | | — | | 1 | — |
| Total | $2,066 | | $2,043 | | $6,251 | $6,281 |
First 8 of 14 rows. The CSV 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:”
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| September 30, 2024 | December 31, 2023 | |
| Assets | | | |
| Kentucky Regulated | $17,356 | | $17,029 |
| Pennsylvania Regulated | 15,328 | | 14,294 |
| Rhode Island Regulated | 6,953 | | 6,515 |
| Corporate and Other (a) | 835 | | 1,398 |
| Total | $40,472 | | $39,236 |
Table 31 after “See Note 3 in the Registrants' 2023 Form 10-K for a discussion of the principal activities from which PPL Electric, LG&E and KU and PPL’s Pe”
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| 2024 Three Months | | | | | |
| PPL | PPL Electric | | LG&E | KU | |
| Operating Revenues (a) | $2,066 | | $716 | | $397 | $509 |
| Revenues derived from: | | | | | | |
| Alternative revenue programs (b) | 17 | | (3) | | 11 | 7 |
| Other (c) | (6) | | (4) | | (1) | (1) |
| Revenues from Contracts with Customers | $2,077 | | $709 | | $407 | $515 |
| 2023 Three Months | | | | | |
First 8 of 28 rows. The CSV has all of them.
Table 32 after “The following tables show revenues from contracts with customers disaggregated by customer class for the periods ended September 30.”
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| Three Months | | | | | | | | | | | | |
| Residential | Commercial | | Industrial | Other (a) | Wholesale - municipality | | Wholesale - other (b) | Transmission | Revenues from Contracts with Customers | | | |
| PPL | | | | | | | | | | | | | |
| 2024 | | | | | | | | | | | | | |
| PA Regulated | $367 | | $111 | | $12 | | $15 | | $— | | $— | $204 | $709 |
| KY Regulated | 378 | | 268 | | 161 | | 76 | | 7 | | 20 | — | 910 |
| RI Regulated | 112 | | 38 | | 5 | | 251 | | — | | — | 52 | 458 |
| Total PPL | $857 | | $417 | | $178 | | $342 | | $7 | | $20 | $256 | $2,077 |
First 8 of 22 rows. The CSV has all of them.
Table 33 after “The following tables show revenues from contracts with customers disaggregated by customer class for the periods ended September 30.”
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| Nine Months | | | | | | | | | | | | |
| Residential | Commercial | | Industrial | Other (a) | Wholesale - municipality | | Wholesale - other (b) | Transmission | Revenues from Contracts with Customers | | | |
| PPL | | | | | | | | | | | | | |
| 2024 | | | | | | | | | | | | | |
| PA Regulated | $1,125 | | $318 | | $34 | | $43 | | $— | | $— | $613 | $2,133 |
| KY Regulated | 1,147 | | 780 | | 479 | | 248 | | 18 | | 48 | — | 2,720 |
| RI Regulated | 480 | | 182 | | 17 | | 593 | | — | | — | 128 | 1,400 |
| Corp and Other | — | | — | | — | | 1 | | — | | — | — | 1 |
First 8 of 14 rows. The CSV has all of them.
| Nine Months | | | | | | | | | | | | |
| Residential | Commercial | | Industrial | Other (a) | Wholesale - municipality | | Wholesale - other (b) | Transmission | Revenues from Contracts with Customers | | | |
| PPL Electric | | | | | | | | | | | | | |
| 2024 | $1,125 | | $318 | | $34 | | $43 | | $— | | $— | $613 | $2,133 |
| 2023 | $1,266 | | $346 | | $44 | | $40 | | $— | | $— | $593 | $2,289 |
| LG&E | | | | | | | | | | | | | |
| 2024 | $571 | | $391 | | $141 | | $114 | | $— | | $34 | $— | $1,251 |
| 2023 | $574 | | $398 | | $145 | | $75 | | $— | | $33 | $— | $1,225 |
First 8 of 11 rows. The CSV 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 September 30.”
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| Three Months | Nine Months | | | | |
| 2024 | 2023 | | 2024 | 2023 | |
| PPL (a) | $28 | | $20 | | $72 | $47 |
| PPL Electric (a) | 13 | | 10 | | 37 | 27 |
| LG&E | 1 | | 2 | | 2 | 3 |
| KU | 2 | | 1 | | 3 | 2 |
Table 36 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 | | LG&E | KU | |
| Contract liabilities at December 31, 2023 | $43 | | $29 | | $6 | $7 |
| Contract liabilities at September 30, 2024 | 31 | | 21 | | 5 | 5 |
| Revenue recognized during the nine months ended September 30, 2024 that was included in the contract liability balance at December 31, 2023 | 26 | | 12 | | 6 | 7 |
| Contract liabilities at December 31, 2022 | $34 | | $23 | | $5 | $6 |
| Contract liabilities at September 30, 2023 | 33 | | 21 | | 5 | 6 |
| Revenue recognized during the nine months ended September 30, 2023 that was included in the contract liability balance at December 31, 2022 | 21 | | 10 | | 5 | 6 |
Table 37 after “Reconciliations of the amounts of income and shares of PPL common stock (in thousands) for the periods ended September 30 used in the EPS ca”
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| Three Months | Nine Months | | | | |
| 2024 | 2023 | | 2024 | 2023 | |
| Income (Numerator) | | | | | | |
| Net income attributable to PPL | $214 | | $230 | | $711 | $627 |
| Less amounts allocated to participating securities | 1 | | — | | 2 | 1 |
| Net income available to PPL common shareowners - Basic and Diluted | $213 | | $230 | | $709 | $626 |
| Shares of Common Stock (Denominator) | | | | | | |
| Weighted-average shares - Basic EPS | 737,773 | | 737,107 | | 737,678 | 737,005 |
First 8 of 12 rows. The CSV has all of them.
Table 38 after “For the periods ended September 30, the following shares (in thousands) were excluded from the computations of diluted EPS because the effec”
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| Three Months | Nine Months | | | | |
| 2024 | 2023 | | 2024 | 2023 | |
| Stock-based compensation awards | — | | 179 | | — | 324 |
Table 39 after “Reconciliations of income tax expense (benefit) for the periods ended September 30 are as follows.”
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| (PPL) | | | | | | |
| Three Months | Nine Months | | | | |
| 2024 | 2023 | | 2024 | 2023 | |
| Federal income tax on Income Before Income Taxes at statutory tax rate - 21% | $57 | | $60 | | $189 | $167 |
| Increase (decrease) due to: | | | | | | |
| State income taxes, net of federal income tax benefit | 20 | | 16 | | 48 | 49 |
| Income tax credits (a) | (2) | | (9) | | (4) | (11) |
| Utility rate-making tax adjustments (b) | (4) | | (2) | | (14) | (9) |
First 8 of 12 rows. The CSV has all of them.
Table 40 after “(b) Primarily consists of tax impacts of AFUDC equity and related depreciation across PPL's regulated utility subsidiaries and flow through ”
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| (PPL Electric) | | | | | | |
| Three Months | Nine Months | | | | |
| 2024 | 2023 | | 2024 | 2023 | |
| Federal income tax on Income Before Income Taxes at statutory tax rate - 21% | $40 | | $38 | | $122 | $107 |
| Increase (decrease) due to: | | | | | | |
| State income taxes, net of federal income tax benefit | 13 | | 13 | | 39 | 36 |
| Utility rate-making tax adjustments (a) | (2) | | (1) | | (12) | (8) |
| Amortization of excess deferred federal and state income taxes | (3) | | (4) | | (8) | (8) |
First 8 of 11 rows. The CSV 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”
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| (LG&E) | | | | | | |
| Three Months | Nine Months | | | | |
| 2024 | 2023 | | 2024 | 2023 | |
| Federal income tax on Income Before Income Taxes at statutory tax rate - 21% | $20 | | $21 | | $62 | $56 |
| Increase (decrease) due to: | | | | | | |
| State income taxes, net of federal income tax benefit | 4 | | 4 | | 11 | 10 |
| Amortization of excess deferred federal and state income taxes | (3) | | (3) | | (9) | (9) |
| Other | (1) | | (1) | | (3) | (2) |
First 8 of 10 rows. The CSV 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”
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| (KU) | | | | | | |
| Three Months | Nine Months | | | | |
| 2024 | 2023 | | 2024 | 2023 | |
| Federal income tax on Income Before Income Taxes at statutory tax rate - 21% | $26 | | $26 | | $74 | $63 |
| Increase (decrease) due to: | | | | | | |
| State income taxes, net of federal income tax benefit | 4 | | 5 | | 13 | 12 |
| Amortization of excess deferred federal and state income taxes | (4) | | (5) | | (13) | (13) |
| Other | (2) | | (2) | | (4) | (3) |
First 8 of 10 rows. The CSV 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.”
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| PPL | PPL Electric | | LG&E | | KU | | | | | | | | | | | |
| September 30, 2024 | December 31, 2023 | | September 30, 2024 | | December 31, 2023 | September 30, 2024 | | December 31, 2023 | | September 30, 2024 | December 31, 2023 | | | | | |
| Current Regulatory Assets: | | | | | | | | | | | | | | | | | |
| Rate adjustment mechanisms | $118 | | $118 | | | $— | | $— | | | $— | | $— | | $— | | $— |
| Renewable energy certificates | 15 | 14 | | | — | | — | | | — | | — | | — | | — | |
| Derivative instruments | 20 | 51 | | | — | | — | | | — | | — | | — | | — | |
| Smart meter rider | 7 | | 6 | | | 7 | | 6 | | | — | | — | | — | | — |
| Universal service rider | 7 | | — | | | 7 | | — | | | — | | — | | — | | — |
First 8 of 33 rows. The CSV has all of them.
| PPL | PPL Electric | | LG&E | KU | | | | | | | | |
| September 30, 2024 | December 31, 2023 | | September 30, 2024 | December 31, 2023 | September 30, 2024 | | December 31, 2023 | September 30, 2024 | December 31, 2023 | | | |
| Current Regulatory Liabilities: | | | | | | | | | | | | | |
| Generation supply charge | $59 | | $51 | | $59 | | $51 | | $— | | $— | $— | $— |
| Environmental cost recovery | 14 | | — | | — | | — | | 8 | | — | 6 | — |
| Tax Cuts and Jobs Act customer refund | — | | 5 | | — | | 5 | | — | | — | — | — |
| Act 129 compliance rider | 7 | | 15 | | 7 | | 15 | | — | | — | — | — |
| Transmission formula rate | 6 | | 21 | | 3 | | 18 | | — | | — | — | — |
First 8 of 24 rows. The CSV has all of them.
| September 30, 2024 | December 31, 2023 | | | | | | | | | |
| Expiration Date | Capacity | Borrowed | | Letters of Credit and Commercial Paper Issued (c) | Unused Capacity | Borrowed | | Letters of Credit and Commercial Paper Issued (c) | | |
| PPL | | | | | | | | | | | |
| PPL Capital Funding (a) | | | | | | | | | | | |
| Syndicated Credit Facility (b) | Dec. 2028 | $1,250 | | $— | | $— | | $1,250 | | $— | $390 |
| Bilateral Credit Facility | Feb. 2025 | 100 | | — | | — | | 100 | | — | — |
| Bilateral Credit Facility | Feb. 2025 | 100 | | — | | 14 | | 86 | | — | 13 |
| Total PPL Capital Funding Credit Facilities | | $1,450 | | $— | | $14 | | $1,436 | | $— | $403 |
First 8 of 17 rows. The CSV has all of them.
Table 46 after “The following commercial paper programs were in place at:”
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| September 30, 2024 | December 31, 2023 | | | | | | | |
| Weighted - Average Interest Rate | Capacity | Commercial Paper Issuances (c) | | Unused Capacity | Weighted - Average Interest Rate | Commercial Paper Issuances (c) | | |
| PPL Capital Funding (a) (b) | | $1,350 | | $— | | $1,350 | | 5.66% | $365 |
| RIE (b) | | 400 | | — | | 400 | | 5.72% | 25 |
| PPL Electric | | 650 | | — | | 650 | | 5.67% | 510 |
| LG&E | | 500 | | — | | 500 | | | — |
| KU | | 400 | | — | | 400 | | 5.64% | 93 |
| Total | | $3,300 | | $— | | $3,300 | | | $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 Sept”
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| Pension Benefits | | | | | |
| Three Months | Nine Months | | | | |
| 2024 | 2023 | | 2024 | 2023 | |
| PPL | | | | | | |
| Service cost | $9 | | $8 | | $26 | $25 |
| Interest cost | 45 | | 47 | | 137 | 141 |
| Expected return on plan assets | (74) | | (77) | | (224) | (232) |
| Amortization of: | | | | | | |
First 8 of 11 rows. The CSV has all of them.
Table 48 after “Following are the net periodic defined benefit costs (credits) of the plans sponsored by PPL and its subsidiaries for the periods ended Sept”
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| Other Postretirement Benefits | | | | | |
| Three Months | Nine Months | | | | |
| 2024 | 2023 | | 2024 | 2023 | |
| PPL | | | | | | |
| Service cost | $2 | | $1 | | $5 | $4 |
| Interest cost | 8 | | 8 | | 22 | 23 |
| Expected return on plan assets | (8) | | (7) | | (23) | (22) |
| Amortization of: | | | | | | |
First 8 of 11 rows. The CSV 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”
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| Exposure at September 30, 2024 | | | Expiration 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 | $105 | | (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 Holdings | 140 | | (c) | | 2028 | |
| LG&E and KU | | | | | | |
| LG&E and KU obligation of shortfall related to OVEC | | (d) | | | | |
| Three Months | Nine Months | | | | |
| 2024 | 2023 | | 2024 | 2023 | |
| PPL Electric from PPL Services | $53 | | $52 | | $159 | $166 |
| LG&E from LKS | 25 | | 25 | | 82 | 85 |
| LG&E from PPL Services | 15 | | 10 | | 46 | 30 |
| KU from LKS | 31 | | 35 | | 99 | 110 |
| KU from PPL Services | 15 | | 11 | | 45 | 33 |
Table 51 after “The details of "Other Income (Expense) - net" for the periods ended September 30, were:”
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| Three Months | Nine Months | | | | |
| 2024 | 2023 | | 2024 | 2023 | |
| Defined benefit plans - non-service credits (Note 9) | $9 | | $13 | | $32 | $30 |
| Interest income | 10 | | 4 | | 25 | 22 |
| AFUDC - equity component | 13 | | 7 | | 33 | 21 |
| Charitable contributions | — | | (1) | | (4) | (3) |
| Miscellaneous (a) | — | | (7) | | — | (19) |
| Other Income (Expense) - net | $32 | | $16 | | $86 | $51 |
Table 52 after “The details of "Other Income (Expense) - net" for the periods ended September 30, were:”
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| Three Months | Nine Months | | | | |
| 2024 | 2023 | | 2024 | 2023 | |
| Defined benefit plans - non-service credits (Note 9) | $4 | | $5 | | $13 | $15 |
| Interest income | 3 | | 1 | | 5 | 6 |
| AFUDC - equity component | 6 | | 4 | | 17 | 12 |
| Charitable contributions | — | | — | | (3) | (2) |
| Miscellaneous | — | | (2) | | 1 | (2) |
| Other Income (Expense) - net | $13 | | $8 | | $33 | $29 |
Table 53 after “The details of "Other Income (Expense) - net" for the periods ended September 30, were:”
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| Three Months | Nine Months | | | | |
| 2024 | 2023 | | 2024 | 2023 | |
| Defined benefit plans - non-service credits (Note 9) | $— | | $— | | $3 | $— |
| Interest income | — | | — | | 1 | — |
| AFUDC - equity component | 2 | | 1 | | 5 | 2 |
| Miscellaneous | 1 | | (1) | | — | — |
| Other Income (Expense) - net | $3 | | $— | | $9 | $2 |
Table 54 after “The details of "Other Income (Expense) - net" for the periods ended September 30, were:”
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| Three Months | Nine Months | | | | |
| 2024 | 2023 | | 2024 | 2023 | |
| Defined benefit plans - non-service credits (Note 9) | $2 | | $— | | $6 | $4 |
| Interest income | — | | — | | 1 | — |
| AFUDC - equity component | 3 | | 1 | | 6 | 2 |
| Miscellaneous | (1) | | — | | (3) | — |
| Other Income (Expense) - net | $4 | | $1 | | $10 | $6 |
Table 55 after “The assets and liabilities measured at fair value were:”
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| September 30, 2024 | December 31, 2023 | | | | | | | | | | | |
| Total | Level 1 | | Level 2 | Level 3 | Total | | Level 1 | Level 2 | Level 3 | | | |
| PPL | | | | | | | | | | | | | |
| Assets | | | | | | | | | | | | | |
| Cash and cash equivalents | $542 | | $542 | | $— | | $— | | $331 | | $331 | $— | $— |
| Restricted cash and cash equivalents (a) | 41 | | 41 | | — | | — | | 51 | | 51 | — | — |
| Total Cash, Cash Equivalents and Restricted Cash (b) | 583 | | 583 | | — | | — | | 382 | | 382 | — | — |
| Special use funds (a): | | | | | | | | | | | | | |
First 8 of 30 rows. The CSV has all of them.
| September 30, 2024 | December 31, 2023 | | | | | | | | | | | |
| Total | Level 1 | | Level 2 | Level 3 | Total | | Level 1 | Level 2 | Level 3 | | | |
| Liabilities | | | | | | | | | | | | | |
| Price risk management liabilities: | | | | | | | | | | | | | |
| Interest rate swaps | $7 | | $— | | $7 | | $— | | $7 | | $— | $7 | $— |
| Total price risk management liabilities | $7 | | $— | | $7 | | $— | | $7 | | $— | $7 | $— |
| KU | | | | | | | | | | | | | |
| Assets | | | | | | | | | | | | | |
First 8 of 12 rows. The CSV has all of them.
Table 57 after “A reconciliation of net liabilities classified as Level 3 for the nine months ended September 30 is as follows:”
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| Gas Contracts |
| 2024 | |
| Balance at beginning of period | $19 |
| Total unrealized gains (losses) recognized as Regulatory Assets/Regulatory Liabilities: | 4 |
| Settlements | (19) |
| Balance at end of period | $4 |
Table 58 after “The carrying amounts of long-term debt on the Balance Sheets and their estimated fair values are set forth below.”
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| September 30, 2024 | December 31, 2023 | | | | |
| Carrying Amount (a) | Fair Value | | Carrying Amount (a) | Fair Value | |
| PPL | $16,500 | | $16,431 | | $14,612 | $14,031 |
| PPL Electric | 5,213 | | 5,230 | | 4,567 | 4,475 |
| LG&E | 2,470 | | 2,424 | | 2,469 | 2,369 |
| KU | 3,065 | | 2,940 | | 3,064 | 2,861 |
Table 59 after “The following table presents the fair value and the location on the Balance Sheets of derivatives not designated as hedging instruments.”
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| September 30, 2024 | | | December 31, 2023 | | | |
| Assets | Liabilities | | | Assets | Liabilities | |
| Current: | | | | | | | |
| Price Risk Management Assets/Liabilities (a): | | | | | | | |
| Interest rate swaps | $— | | $1 | | | $— | $1 |
| Gas contracts | 2 | | 22 | | | 1 | 51 |
| Total current | 2 | | 23 | | | 1 | 52 |
| Noncurrent: | | | | | | | |
First 8 of 13 rows. The CSV has all of them.
| Derivatives Not Designated as Hedging Instruments | Location of Gain (Loss) Recognized in Income on Derivative | Three Months | Nine Months | |
| Gas contracts | Energy purchases | $(6) | | $(31) |
| Total | $(6) | | $(31) |
| Derivatives Not Designated as Hedging Instruments | Location of Gain (Loss) Recognized as Regulatory Liabilities/Assets | Three Months | Nine Months | |
| Interest rate swaps | Regulatory assets - noncurrent | $(3) | | $— |
| Gas contracts | Regulatory assets - current | (2) | | 31 |
| Regulatory assets - noncurrent | (3) | | 3 |
| Total | $(8) | | $34 |
Table 61 after “The following tables present the pre-tax effect of derivative instruments recognized in income, OCI or regulatory assets and regulatory liab”
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| Derivatives Not Designated as Hedging Instruments | Location of Gain (Loss) Recognized in Income on Derivative | Three Months | Nine Months | |
| Gas contracts | Energy purchases | $(4) | | $(11) |
| Other income (expense) - net | (1) | | (1) |
| Total | $(5) | | $(12) |
| Derivatives Not Designated as Hedging Instruments | Location of Gain (Loss) Recognized as Regulatory Liabilities/Assets | Three Months | Nine Months | |
| Interest rate swaps | Regulatory assets - noncurrent | $4 | | $4 |
| Gas contracts | Regulatory assets - current | (14) | | 12 |
| Regulatory assets - noncurrent | 2 | | (5) |
First 8 of 9 rows. The CSV 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 September 30, 2024.”
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| Location and Amount of Gain (Loss) Recognized in Income on Hedging Relationships | | | |
| Three Months | Nine Months | | |
| Interest Expense | | Interest Expense | |
| Total income and expense line items presented in the income statement in which the effect of cash flow hedges are recorded | $188 | | | $549 |
| 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) | | | (3) |
| Location and Amount of Gain (Loss) Recognized in Income on Hedging Relationships | | | |
| Three Months | Nine Months | | |
| Interest Expense | | Interest Expense | |
| Total income and expense line items presented in the income statement in which the effect of cash flow hedges are recorded | $165 | | | $494 |
| 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) | | | (3) |
Table 64 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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| September 30, 2024 | December 31, 2023 | | | | |
| Assets | Liabilities | | Assets | Liabilities | |
| Current: | | | | | | |
| Price Risk Management Assets/Liabilities: | | | | | | |
| Interest rate swaps | $— | | $1 | | $— | $1 |
| Total current | — | | 1 | | — | 1 |
| Noncurrent: | | | | | | |
| Price Risk Management Assets/Liabilities: | | | | | | |
First 8 of 11 rows. The CSV 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 ”
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| Assets | Liabilities | | | | | | | | | | | |
| | Eligible for Offset | | | | Eligible for Offset | | | | | | | |
| Gross | Derivative Instruments | | Cash Collateral Received | Net | Gross | | Derivative Instruments | Cash Collateral Pledged | Net | | | |
| September 30, 2024 | | | | | | | | | | | | | |
| Derivatives | | | | | | | | | | | | | |
| PPL | $2 | | $2 | | $— | | $— | | $34 | | $2 | $— | $32 |
| LG&E | — | | — | | — | | — | | 7 | | — | — | 7 |
Table 66 after “The table below summarizes the derivative positions presented in the balance sheets where a right of setoff exists under these arrangements ”
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| Assets | Liabilities | | | | | | | | | | | |
| | Eligible for Offset | | | | Eligible for Offset | | | | | | | |
| Gross | Derivative Instruments | | Cash Collateral Received | Net | Gross | | Derivative Instruments | Cash Collateral Pledged | Net | | | |
| 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.”
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| PPL | LG&E | | KU | |
| Balance at December 31, 2023 | $158 | | $85 | | $66 |
| Accretion | 6 | | 3 | | 3 |
| New obligations incurred (a) | 8 | | 3 | | 5 |
| Changes in estimated cash flow or settlement date | 1 | | 1 | | (1) |
| Obligations settled | (15) | | (8) | | (7) |
| Other | 2 | | — | | — |
| Balance at September 30, 2024 | $160 | | $84 | | $66 |
Table 68 after “The after-tax changes in AOCI by component for the periods ended September 30 were as follows.”
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| | Unrealized gains (losses) on qualifying derivatives | | | Defined benefit plans | | | | |
| Equity investees' AOCI | | Prior service costs | Actuarial gain (loss) | | Total | | | |
| PPL | | | | | | | | | |
| June 30, 2024 | | $7 | | $4 | | | $(4) | $(167) | $(160) |
| Amounts arising during the period | | — | | — | | | — | (4) | (4) |
| Reclassifications from AOCI | | 2 | | — | | | — | (1) | 1 |
| Net OCI during the period | | 2 | | — | | | — | (5) | (3) |
| September 30, 2024 | | $9 | | $4 | | | $(4) | $(172) | $(163) |
First 8 of 18 rows. The CSV has all of them.
| | Unrealized gains (losses) on qualifying derivatives | | | Defined benefit plans | | | | |
| Equity investees' AOCI | | Prior service costs | Actuarial gain (loss) | | Total | | | |
| December 31, 2022 | | $3 | | $2 | | | $(5) | $(124) | $(124) |
| Amounts arising during the period | | — | | 1 | | | — | (21) | (20) |
| Reclassifications from AOCI | | 2 | | — | | | 1 | (1) | 2 |
| Net OCI during the period | | 2 | | 1 | | | 1 | (22) | (18) |
| September 30, 2023 | | $5 | | $3 | | | $(4) | $(146) | $(142) |
Table 70 after “The following table presents PPL's gains (losses) and related income taxes for reclassifications from AOCI for the periods ended September 3”
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| Three Months | Nine Months | | Affected Line Item on the | | | | |
| Details about AOCI | 2024 | 2023 | | 2024 | 2023 | Statements of Income | | |
| Qualifying derivatives | | | | | | | | |
| Interest rate swaps | $(1) | | $(1) | | $(3) | | $(3) | Interest Expense |
| Total Pre-tax | (1) | | (1) | | (3) | | (3) | |
| Income Taxes | (1) | | — | | — | | 1 | |
| Total After-tax | (2) | | (1) | | (3) | | (2) | |
| Defined benefit plans | | | | | | | | |
First 8 of 14 rows. The CSV has all of them.
Table 71 after “Net income for the periods ended September 30 includes the following results:”
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| Three Months | Nine Months | | | | | | | | |
| 2024 | 2023 | | $ Change | 2024 | 2023 | | $ Change | | |
| Operating Revenues | $2,066 | | $2,043 | | $23 | | $6,251 | | $6,281 | $(30) |
| Operating Expenses | | | | | | | | | | |
| Operation | | | | | | | | | | |
| Fuel | 207 | | 199 | | 8 | | 597 | | 567 | 30 |
| Energy purchases | 338 | | 356 | | (18) | | 1,133 | | 1,430 | (297) |
| Other operation and maintenance | 681 | | 637 | | 44 | | 1,930 | | 1,805 | 125 |
First 8 of 17 rows. The CSV has all of them.
Table 72 after “The increase (decrease) in operating revenues was due to:”
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| Three Months | Nine Months | |
| PPL Electric distribution price (a) | $25 | | $48 |
| PPL Electric distribution volume (b) | 1 | | 34 |
| PPL Electric PLR (c) | (53) | | (262) |
| PPL Electric transmission formula rate (d) | 5 | | 40 |
| LG&E volumes (b) | 5 | | 31 |
| LG&E ECR mechanism (e) | (12) | | (15) |
| KU volumes (b) | 4 | | 37 |
First 8 of 16 rows. The CSV has all of them.
| Three Months | Nine Months | |
| PPL Electric storm costs | $15 | | $40 |
| PPL Electric vegetation management expenses | 3 | | 11 |
| PPL Electric bad debts | 4 | | 11 |
| PPL Electric operations costs | — | | (16) |
| PPL Electric Act 129 | 6 | | 14 |
| LG&E ECR expenses | (5) | | (14) |
| KU ECR expenses | — | | (8) |
First 8 of 15 rows. The CSV has all of them.
Table 74 after “The increase (decrease) in taxes, other than income was due to:”
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| Three Months | Nine Months | |
| State gross earnings and gross receipts tax (a) | $— | | $(35) |
| Property tax expense (b) | (9) | | 8 |
| Other | (1) | | (1) |
| Total | $(10) | | $(28) |
Table 75 after “The increase (decrease) in other income (expense) - net was due to:”
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| Three Months | Nine Months | |
| Defined benefit plans - non-service credits (Note 9) | $(4) | | $2 |
| Interest income | 6 | | 3 |
| AFUDC | 6 | | 12 |
| Other | 8 | | 18 |
| Total | $16 | | $35 |
Table 76 after “The increase (decrease) in interest expense was due to:”
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| Three Months | Nine Months | |
| Long-term debt (a) | $22 | | $54 |
| Other | 1 | | 1 |
| Total | $23 | | $55 |
| Three Months | Nine Months | | | | | | | | |
| 2024 | 2023 | | $ Change | 2024 | 2023 | | $ Change | | |
| Kentucky Regulated | $169 | | $175 | | $(6) | | $493 | | $432 | $61 |
| Pennsylvania Regulated | 142 | | 136 | | 6 | | 441 | | 384 | 57 |
| Rhode Island Regulated | 14 | | 6 | | 8 | | 90 | | 70 | 20 |
| Corporate and Other (a) | (111) | | (87) | | (24) | | (313) | | (259) | (54) |
| Net Income (Loss) | $214 | | $230 | | $(16) | | $711 | | $627 | $84 |
Table 78 after “PPL's Earnings from Ongoing Operations by reportable segment for the periods ended September 30 were as follows:”
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| Three Months | Nine Months | | | | | | | | |
| 2024 | 2023 | | $ Change | 2024 | 2023 | | $ Change | | |
| Kentucky Regulated | $172 | | $175 | | $(3) | | $497 | | $438 | $59 |
| Pennsylvania Regulated | 142 | | 145 | | (3) | | 458 | | 399 | 59 |
| Rhode Island Regulated | 32 | | 22 | | 10 | | 138 | | 116 | 22 |
| Corporate and Other | (36) | | (25) | | (11) | | (99) | | (69) | (30) |
| Earnings from Ongoing Operations | $310 | | $317 | | $(7) | | $994 | | $884 | $110 |
| Three Months | Nine Months | | | | | | | | |
| 2024 | 2023 | | $ Change | 2024 | 2023 | | $ Change | | |
| Operating Revenues | $895 | | $893 | | $2 | | $2,698 | | $2,631 | $67 |
| Fuel | 207 | | 199 | | 8 | | 597 | | 567 | 30 |
| Energy purchases | 25 | | 23 | | 2 | | 124 | | 141 | (17) |
| Other operation and maintenance | 196 | | 199 | | (3) | | 593 | | 625 | (32) |
| Depreciation | 178 | | 174 | | 4 | | 531 | | 521 | 10 |
| Taxes, other than income | 25 | | 24 | | 1 | | 74 | | 70 | 4 |
First 8 of 15 rows. The CSV 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 ”
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| Income Statement Line Item | | Three Months | | Nine Months | | | | |
| | 2024 | | 2023 | | 2024 | 2023 | | |
| 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 (b) | Other operation and maintenance | | — | | | — | | — | (5) |
| FERC transmission credit refund, net of tax of $0, $0 (b) | Operating Revenues | | 1 | | | — | | 1 | — |
| ECR beneficial reuse transition adjustment, net of tax of $2, $2 (c) | Operating Revenues | | (4) | | | — | | (4) | — |
| Total Special Items | | | $(3) | | | $— | | $(4) | $(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”
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| Three Months | Nine Months | |
| Operating Revenues | $6 | | $71 |
| Fuel | (8) | | (30) |
| Energy purchases | (2) | | 17 |
| Other operation and maintenance | 3 | | 25 |
| Depreciation | (5) | | (10) |
| Taxes, other than income | (1) | | (4) |
| Other Income (Expense) - net | 5 | | 11 |
First 8 of 13 rows. The CSV has all of them.
Table 82 after “Net Income and Earnings from Ongoing Operations for the periods ended September 30 include the following results:”
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| Three Months | Nine Months | | | | | | | | |
| 2024 | 2023 | | $ Change | 2024 | 2023 | | $ Change | | |
| Operating Revenues | $716 | | $737 | | $(21) | | $2,159 | | $2,295 | $(136) |
| Energy purchases | 177 | | 226 | | (49) | | 544 | | 788 | (244) |
| Other operation and maintenance | 176 | | 151 | | 25 | | 511 | | 454 | 57 |
| Depreciation | 101 | | 99 | | 2 | | 300 | | 297 | 3 |
| Taxes, other than income | 32 | | 36 | | (4) | | 98 | | 110 | (12) |
| Total Operating Expenses | 486 | | 512 | | (26) | | 1,453 | | 1,649 | (196) |
First 8 of 15 rows. The CSV 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 ”
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| Income Statement Line Item | | Three Months | | Nine Months | | | | |
| | 2024 | | 2023 | | 2024 | 2023 | | |
| PA tax rate change (a) | Income Taxes | | $— | | | $— | | $— | $1 |
| PPL Electric billing issue, net of tax of $4, $5, $6 (b) | Other operation and maintenance | | — | | | (8) | | (13) | (14) |
| PPL Electric billing issue, net of tax of $0 (b) | Other Income (Expense) - net | | — | | | — | | — | (1) |
| Strategic corporate initiatives, net of tax of $1, $2, $0 (c) | Other operation and maintenance | | — | | | (1) | | (4) | (1) |
| Total Special Items | | | $— | | | $(9) | | $(17) | $(15) |
Table 84 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 | Nine Months | |
| Operating Revenues | $(21) | | $(136) |
| Energy purchases | 49 | | 244 |
| Other operation and maintenance | (37) | | (55) |
| Depreciation | (2) | | (3) |
| Taxes, other than income | 4 | | 12 |
| Other Income (Expense) - net | 5 | | 4 |
| Interest Income from Affiliate | 7 | | 27 |
First 8 of 13 rows. The CSV has all of them.
Table 85 after “Net Income and Earnings from Ongoing Operations for the periods ended September 30 include the following results:”
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| Three Months | Nine Months | | | | | | | | |
| 2024 | 2023 | | $ Change | 2024 | 2023 | | $ Change | | |
| Operating Revenues | $455 | | $413 | | $42 | | $1,393 | | $1,355 | $38 |
| Energy purchases | 135 | | 107 | | 28 | | 464 | | 501 | (37) |
| Other operation and maintenance | 211 | | 207 | | 4 | | 547 | | 485 | 62 |
| Depreciation | 42 | | 41 | | 1 | | 123 | | 120 | 3 |
| Taxes, other than income | 33 | | 39 | | (6) | | 99 | | 119 | (20) |
| Total Operating Expenses | 421 | | 394 | | 27 | | 1,233 | | 1,225 | 8 |
First 8 of 14 rows. The CSV 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 ”
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| Income Statement Line Item | | Three Months | | Nine Months | | | | |
| | 2024 | | 2023 | | 2024 | 2023 | | |
| Acquisition integration, net of tax of $3, $4, $12, $12 (a) | Other operation and maintenance | | $(18) | | | $(16) | | $(48) | $(46) |
| Total Special Items | | | $(18) | | | $(16) | | $(48) | $(46) |
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, ”
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| Three Months | Nine Months | |
| Operating Revenues | $42 | | $38 |
| Energy purchases | (28) | | 37 |
| Other operation and maintenance | (1) | | (58) |
| Depreciation | (1) | | (3) |
| Taxes, other than income | 6 | | 20 |
| Other Income (Expense) - net | — | | 9 |
| Interest Expense | (4) | | (12) |
First 8 of 12 rows. The CSV has all of them.
| 2024 Three Months | | | | | | | |
| KY Regulated | PA Regulated | | RI Regulated | Corporate and Other | | Total | |
| Net Income (Loss) | $169 | | $142 | | $14 | $(111) | | $214 |
| 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) | — | | — | | — | (2) | | (2) |
| Acquisition integration, net of tax of $3, $19 (c) | — | | — | | (18) | (71) | | (89) |
| FERC transmission credit refund, net of tax of $0 (d) | 1 | | — | | — | — | | 1 |
First 8 of 11 rows. The CSV has all of them.
Table 89 after “Prior period impact of an adjustment related to the ECR mechanism revenues.”
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| 2023 Three Months | | | | | | | |
| KY Regulated | PA Regulated | | RI Regulated | Corporate and Other | | Total | |
| Net Income (Loss) | $175 | | $136 | | $6 | $(87) | | $230 |
| 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) | | — | (3) | | (4) |
| Acquisition integration, net of tax of $4, $15 (c) | — | | — | | (16) | (55) | | (71) |
| Sale of Safari Holdings, net of tax of ($1) (d) | — | | — | | — | 1 | | 1 |
First 8 of 12 rows. The CSV has all of them.
Table 90 after “Certain expenses related to distributed energy investments.”
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| 2024 Nine Months | | | | | | | |
| KY Regulated | PA Regulated | | RI Regulated | Corporate and Other | | Total | |
| Net Income (Loss) | $493 | | $441 | | $90 | $(313) | | $711 |
| Less: Special Items (expense) benefit: | | | | | | | | |
| Talen litigation costs, net of tax of $1 (a) | — | | — | | — | (2) | | (2) |
| Strategic corporate initiatives, net of tax of $0, $2, $2 (b) | (1) | | (4) | | — | (6) | | (11) |
| Acquisition integration, net of tax of $12, $55 (c) | — | | — | | (48) | (206) | | (254) |
| PPL Electric billing issue, net of tax of $5 (d) | — | | (13) | | — | — | | (13) |
First 8 of 12 rows. The CSV has all of them.
Table 91 after “Prior period impact of an adjustment related to the ECR mechanism revenues.”
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| 2023 Nine Months | | | | | | | |
| KY Regulated | PA Regulated | | RI Regulated | Corporate and Other | | Total | |
| Net Income (Loss) | $432 | | $384 | | $70 | $(259) | | $627 |
| Less: Special Items (expense) benefit: | | | | | | | | |
| Talen litigation costs, net of tax of $2 (a) | — | | — | | — | (6) | | (6) |
| Strategic corporate initiatives, net of tax of $0, $0, $2 (b) | (1) | | (1) | | — | (7) | | (9) |
| Acquisition integration, net of tax of $12, $42 (c) | — | | — | | (46) | (159) | | (205) |
| PA tax rate change (d) | — | | 1 | | — | — | | 1 |
First 8 of 14 rows. The CSV has all of them.
Table 92 after “Net income for the periods ended September 30 includes the following results:”
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| Three Months | Nine Months | | | | | | | | |
| 2024 | 2023 | | $ Change | 2024 | 2023 | | $ Change | | |
| Operating Revenues | $716 | | $737 | | $(21) | | $2,159 | | $2,295 | $(136) |
| Operating Expenses | | | | | | | | | | |
| Operation | | | | | | | | | | |
| Energy purchases | 177 | | 226 | | (49) | | 544 | | 788 | (244) |
| Other operation and maintenance | 176 | | 151 | | 25 | | 511 | | 454 | 57 |
| Depreciation | 101 | | 99 | | 2 | | 300 | | 297 | 3 |
First 8 of 17 rows. The CSV has all of them.
Table 93 after “The increase (decrease) in operating revenues was due to:”
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| Three Months | Nine Months | |
| Distribution price (a) | $25 | | $48 |
| Distribution volume (b) | 1 | | 34 |
| PLR (c) | (53) | | (262) |
| Transmission formula rate (d) | 5 | | 40 |
| Other | 1 | | 4 |
| Total | $(21) | | $(136) |
Table 94 after “The increase (decrease) in other operation and maintenance was due to:”
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| Three Months | Nine Months | |
| Support costs | $(2) | | $(8) |
| Vegetation management expenses | 3 | | 11 |
| Storm costs | 15 | | 40 |
| Operations costs | — | | (16) |
| Universal service rider | — | | 9 |
| Bad debts | 4 | | 11 |
| Act 129 | 6 | | 14 |
First 8 of 10 rows. The CSV has all of them.
Table 95 after “Net income for the periods ended September 30 includes the following results:”
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| Three Months | Nine Months | | | | | | | | |
| 2024 | 2023 | | $ Change | 2024 | 2023 | | $ Change | | |
| Operating Revenues | | | | | | | | | | |
| Retail and wholesale | $396 | | $396 | | $— | | $1,219 | | $1,204 | $15 |
| Electric revenue from affiliate | 1 | | 2 | | (1) | | 20 | | 23 | (3) |
| Total Operating Revenues | 397 | | 398 | | (1) | | 1,239 | | 1,227 | 12 |
| Operating Expenses | | | | | | | | | | |
| Operation | | | | | | | | | | |
First 8 of 22 rows. The CSV has all of them.
Table 96 after “The increase (decrease) in operating revenues was due to:”
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| Three Months | Nine Months | |
| Fuel and other energy purchases (a) | $7 | | $(3) |
| Volumes (b) | 5 | | 31 |
| ECR (c) | (12) | | (15) |
| Other | (1) | | (1) |
| Total | $(1) | | $12 |
Table 97 after “The increase (decrease) in other operation and maintenance was due to:”
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| Three Months | Nine Months | |
| ECR expenses | $(5) | | $(14) |
| Transmission expenses | — | | (2) |
| Generation outage expenses | — | | 6 |
| Overhead line expenses | (1) | | (5) |
| Other | (1) | | (1) |
| Total | $(7) | | $(16) |
Table 98 after “Net income for the periods ended September 30 includes the following results:”
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| Three Months | Nine Months | | | | | | | | |
| 2024 | 2023 | | $ Change | 2024 | 2023 | | $ Change | | |
| Operating Revenues | | | | | | | | | | |
| Retail and wholesale | $498 | | $497 | | $1 | | $1,479 | | $1,428 | $51 |
| Electric revenue from affiliate | 11 | | 8 | | 3 | | 19 | | 11 | 8 |
| Total Operating Revenues | 509 | | 505 | | 4 | | 1,498 | | 1,439 | 59 |
| Operating Expenses | | | | | | | | | | |
| Operation | | | | | | | | | | |
First 8 of 22 rows. The CSV has all of them.
Table 99 after “The increase (decrease) in operating revenues was due to:”
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| Three Months | Nine Months | |
| Fuel and other energy purchases (a) | $1 | | $18 |
| Volumes (b) | 4 | | 37 |
| ECR (c) | (7) | | (9) |
| Demand | 2 | | 6 |
| Other | 4 | | 7 |
| Total | $4 | | $59 |
Table 100 after “The increase (decrease) in other operation and maintenance was due to:”
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| Three Months | Nine Months | |
| ECR expenses | $— | | $(8) |
| Transmission expenses | 1 | | (4) |
| Overhead line expenses | — | | (5) |
| Other | 1 | | (4) |
| Total | $2 | | $(21) |
Table 101 after “The Registrants had the following at:”
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| PPL | PPL Electric | | LG&E | | KU | | |
| September 30, 2024 | | | | | | | | |
| Cash and cash equivalents | $542 | | $35 | | | $10 | | $16 |
| Short-term debt | — | | — | | | — | | — |
| Long-term debt due within one year | 1 | | — | | | — | | — |
| Notes payable to affiliates | | — | | | 34 | | 128 | |
| December 31, 2023 | | | | | | | | |
| Cash and cash equivalents | $331 | | $51 | | | $18 | | $14 |
First 8 of 11 rows. The CSV has all of them.
| PPL | PPL Electric | | LG&E | KU | |
| 2024 | | | | | | |
| Operating activities | $1,829 | | $689 | | $456 | $612 |
| Investing activities | (1,944) | | (1,240) | | (327) | (463) |
| Financing activities | 316 | | 535 | | (143) | (151) |
| 2023 | | | | | | |
| Operating activities | $1,648 | | $589 | | $526 | $540 |
| Investing activities | (1,739) | | (655) | | (277) | (425) |
First 8 of 13 rows. The CSV has all of them.
Table 103 after “The components of the change in cash provided by (used in) operating activities for the nine months ended September 30, 2024 compared with 2”
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| PPL | PPL Electric | | LG&E | KU | |
| Change - Cash Provided (Used) | | | | | | |
| Net income | $84 | | $57 | | $22 | $43 |
| Non-cash components | 39 | | 51 | | 13 | (3) |
| Working capital | (38) | | 14 | | (110) | 19 |
| Defined benefit plan funding | 4 | | 3 | | — | — |
| Other operating activities | 92 | | (25) | | 5 | 13 |
| Total | $181 | | $100 | | $(70) | $72 |
Table 104 after “The components of the change in cash provided by (used in) investing activities for the nine months ended September 30, 2024 compared with 2”
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| PPL | PPL Electric | | LG&E | KU | |
| Change - Cash Provided (Used) | | | | | | |
| Expenditures for PP&E | $(204) | | $(167) | | $(50) | $(33) |
| Notes receivable from affiliate | — | | (418) | | — | — |
| Other investing activities | (1) | | — | | — | (5) |
| Total | $(205) | | $(585) | | $(50) | $(38) |
Table 105 after “The components of the change in cash provided by (used in) financing activities for the nine months ended September 30, 2024 compared with 2”
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| PPL | PPL Electric | | LG&E | KU | |
| Change - Cash Provided (Used) | | | | | | |
| Debt issuance/retirement, net | $530 | | $470 | | $(99) | $(86) |
| Dividends | (31) | | (48) | | (23) | (42) |
| Capital contributions/distributions, net | — | | 560 | | 102 | 11 |
| Change in short-term debt, net | (294) | | (551) | | 179 | (17) |
| Net increase (decrease) in notes payable with affiliate | — | | — | | 28 | 107 |
| Other financing activities | 23 | | 7 | | 4 | 4 |
First 8 of 9 rows. The CSV has all of them.
| Committed Capacity | Borrowed | | Letters of Credit and Commercial Paper Issued | Unused Capacity | |
| PPL Capital Funding Credit Facilities (a) | $1,350 | | $— | | $— | $1,350 |
| PPL Electric Credit Facility | 650 | | — | | 1 | 649 |
| LG&E Credit Facilities | 500 | | — | | — | 500 |
| KU Credit Facilities | 400 | | — | | — | 400 |
| Total Credit Facilities (b) | $2,900 | | $— | | $1 | $2,899 |
| Committed Capacity | Borrowed | | Commercial Paper Issued | Unused Capacity | |
| LG&E Money Pool (a) | $750 | | $34 | | $— | $716 |
| KU Money Pool (a) | 650 | | 128 | | — | 522 |
Table 108 after “The Registrants, and PPL Capital Funding and RIE, maintain commercial paper programs to provide an additional financing source to fund short”
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| Capacity | Commercial Paper Issuances | | Unused Capacity | |
| PPL Capital Funding (a) | $1,350 | | $— | | $1,350 |
| Rhode Island Energy (a) | 400 | | — | | 400 |
| PPL Electric | 650 | | — | | 650 |
| LG&E | 500 | | — | | 500 |
| KU | 400 | | — | | 400 |
| Total PPL | $3,300 | | $— | | $3,300 |
Table 109 after “The following interest rate hedges were outstanding at September 30, 2024.”
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| Exposure Hedged | Fair 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 | | $(7) | | $(1) | 2033 |
| 10% Adverse Movement in Rates on Fair Value of Debt |
| PPL | $613 |
| PPL Electric | 261 |
| LG&E | 88 |
| KU | 129 |
Table 111 after “The following Exhibits indicated by an asterisk preceding the Exhibit number are filed herewith. The balance of the Exhibits has heretofore ”
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| 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 (Exhibit 3(a).1 to PPL Corporation Form 10-Q Report (File No. 1-11459) for the quarter ended June 30, 2024) |
| 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 (Exhibit 3(b).1 to PPL Corporation Form 10-Q Report (File No. 1-11459) for the quarter ended June 30, 2024) |
| 4(a) | - | Supplemental Indenture No. 18, dated as of August 9, 2024, among PPL Capital Funding, Inc., PPL Corporation and The Bank of New York Mellon (as successor to JPMorgan Chase Bank, N. A. (formerly known as The Chase Manhattan Bank)), as Trustee (Exhibit 4(b) to PPL Corporation Form 8-K Report (File No. 1-11459) dated August 6, 2024) |
| Certifications pursuant to Section 302 of the Sarbanes-Oxley Act of 2002, for the quarterly period ended September 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 |
First 8 of 26 rows. The CSV has all of them.