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Financing Activities | 6 Months Ended
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Jun. 30, 2017
Debt Disclosure [Abstract] |
Financing Activities | 7. Financing Activities Credit Arrangements and Short-term Debt (All Registrants) The Registrants maintain credit facilities to enhance liquidity, provide credit support and provide a backstop to commercial paper programs. For reporting purposes, on a consolidated basis, the credit facilities and commercial paper programs of PPL Electric, LKE, LG&E and KU also apply to PPL and the credit facilities and commercial paper programs of LG&E and KU also apply to LKE. The amounts borrowed below are recorded as "Short-term debt" on the Balance Sheets. The following credit facilities were in place at:
| June 30, 2017 |  | December 31, 2016
| Expiration Date |  | Capacity |  | Borrowed |  | Letters of Credit and Commercial Paper Issued |  | Unused Capacity |  | Borrowed |  | Letters of Credit and Commercial Paper Issued
PPL |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.K. |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
WPD plc |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Syndicated Credit Facility (a) | Jan. 2022 |  | £ | 210 |  |  | £ | 155 |  |  | £ | — |  |  | £ | 56 |  |  | £ | 160 |  |  | £ | — |
Term Loan Facility (b) | Dec. 2017 |  | 230 |  |  | 230 |  |  | — |  |  | — |  |  | — |  |  | — |
WPD (South West) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Syndicated Credit Facility (c) | July 2021 |  | 245 |  |  | 80 |  |  | — |  |  | 165 |  |  | 110 |  |  | — |
WPD (East Midlands) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Syndicated Credit Facility (d) | July 2021 |  | 300 |  |  | 116 |  |  | — |  |  | 184 |  |  | 9 |  |  | — |
WPD (West Midlands) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Syndicated Credit Facility | July 2021 |  | 300 |  |  | — |  |  | — |  |  | 300 |  |  | — |  |  | — |
Uncommitted Credit Facilities (e) |  |  | 90 |  |  | 50 |  |  | 4 |  |  | 36 |  |  | 60 |  |  | 4 |
Total U.K. Credit Facilities (f) |  |  | £ | 1,375 |  |  | £ | 631 |  |  | £ | 4 |  |  | £ | 741 |  |  | £ | 339 |  |  | £ | 4 |
| June 30, 2017 |  | December 31, 2016
| Expiration Date |  | Capacity |  | Borrowed |  | Letters of Credit and Commercial Paper Issued |  | Unused Capacity |  | Borrowed |  | Letters of Credit and Commercial Paper Issued
U.S. |  |  |  |  |  |  |  |  |  |  |  |  |
PPL Capital Funding |  |  |  |  |  |  |  |  |  |  |  |  |
Syndicated Credit Facility | Jan. 2022 |  | $ | 950 |  |  | $ | — |  |  | $ | 424 |  |  | $ | 526 |  |  | $ | — |  |  | $ | 20 |
Syndicated Credit Facility | Nov. 2018 |  | 300 |  |  | — |  |  | — |  |  | 300 |  |  | — |  |  | — |
Bilateral Credit Facility | Mar. 2018 |  | 150 |  |  | — |  |  | 17 |  |  | 133 |  |  | — |  |  | 17 |
Total PPL Capital Funding Credit Facilities |  |  | $ | 1,400 |  |  | $ | — |  |  | $ | 441 |  |  | $ | 959 |  |  | $ | — |  |  | $ | 37 |
PPL Electric |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Syndicated Credit Facility | Jan. 2022 |  | $ | 650 |  |  | $ | — |  |  | $ | 1 |  |  | $ | 649 |  |  | $ | — |  |  | $ | 296 |
LKE |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Syndicated Credit Facility | Oct. 2018 |  | $ | 75 |  |  | $ | — |  |  | $ | — |  |  | $ | 75 |  |  | $ | — |  |  | $ | — |
LG&E |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Syndicated Credit Facility | Jan. 2022 |  | $ | 500 |  |  | $ | — |  |  | $ | 207 |  |  | $ | 293 |  |  | $ | — |  |  | $ | 169 |
KU |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Syndicated Credit Facility | Jan. 2022 |  | $ | 400 |  |  | $ | — |  |  | $ | 51 |  |  | $ | 349 |  |  | $ | — |  |  | $ | 16 |
Letter of Credit Facility | Oct. 2017 |  | 198 |  |  | — |  |  | 198 |  |  | — |  |  | — |  |  | 198 |
Total KU Credit Facilities |  |  | $ | 598 |  |  | $ | — |  |  | $ | 249 |  |  | $ | 349 |  |  | $ | — |  |  | $ | 214 |
(a) | The amounts borrowed at June 30, 2017 and December 31, 2016 were USD-denominated borrowings of $200 million for both periods, which bore interest at 1.87% and 1.43%. The unused capacity reflects the amount borrowed in GBP of £154 million as of the date borrowed.
(b) | The amount borrowed at June 30, 2017 was a GBP-denominated borrowing which equated to $297 million and bore interest at 1.50%.
(c) | The amounts borrowed at June 30, 2017 and December 31, 2016 were GBP-denominated borrowings which equated to $103 million and $137 million and bore interest at 0.65% and 0.66%.
(d) | The amounts borrowed at June 30, 2017 and December 31, 2016 were GBP-denominated borrowings which equated to $150 million and $11 million and bore interest at 0.65% and 0.66%.
(e) | The amounts borrowed at June 30, 2017 and December 31, 2016 were GBP-denominated borrowings which equated to $65 million and $75 million and bore interest at 1.07% and 1.26%.
(f) | At June 30, 2017, the unused capacity under the U.K. credit facilities was $956 million.
(PPL, LKE and KU) In August 2017, the expiration date for the KU letter of credit facility was extended to October 2020. (All Registrants) PPL, PPL Electric, LG&E and KU maintain commercial paper programs to provide an additional financing source to fund short-term liquidity needs, as necessary. Commercial paper issuances, included in "Short-term debt" on the Balance Sheets, are supported by the respective Registrant's Syndicated Credit Facility. The following commercial paper programs were in place at:
| June 30, 2017 |  | December 31, 2016
| Weighted - Average Interest Rate |  | Capacity |  | Commercial Paper Issuances |  | Unused Capacity |  | Weighted - Average Interest Rate |  | Commercial Paper Issuances
PPL Capital Funding | 1.46% |  | $ | 1,000 |  |  | $ | 424 |  |  | $ | 576 |  |  | 1.10% |  | $ | 20 |
PPL Electric |  |  | 650 |  |  | — |  |  | 650 |  |  | 1.05% |  | 295 |
LG&E | 1.35% |  | 350 |  |  | 207 |  |  | 143 |  |  | 0.94% |  | 169 |
KU | 1.40% |  | 350 |  |  | 51 |  |  | 299 |  |  | 0.87% |  | 16 |
Total |  |  | $ | 2,350 |  |  | $ | 682 |  |  | $ | 1,668 |  |  |  |  | $ | 500 |
(PPL Electric and LKE) See Note 10 for discussion of intercompany borrowings. Long-term Debt (PPL) In March 2017, WPD (South Wales) issued £50 million of 0.01% Index-linked Senior Notes due 2029. WPD (South Wales) received proceeds of £53 million, which equated to $64 million at the time of issuance, net of fees and including a premium. The principal amount of the notes is adjusted based on changes in a specified index, as detailed in the terms of the related indenture. The proceeds were used for general corporate purposes. (PPL and PPL Electric) In May 2017, PPL Electric issued $475 million of 3.95% First Mortgage Bonds due 2047. PPL Electric received proceeds of $466 million, net of a discount and underwriting fees, which were used to repay short-term debt incurred primarily for capital expenditures. (PPL, LKE and LG&E) In June 2017, the County of Trimble, Kentucky issued $60 million of Environmental Facilities Revenue Refunding Bonds, 2017 Series A (Louisville Gas and Electric Company Project) due 2033 on behalf of LG&E. The bonds were issued bearing interest at a rate of 3.75% through their maturity and are subject to an optional redemption on or after June 1, 2027. The proceeds of the bonds were used to redeem $60 million of Environmental Facilities Revenue Refunding Bonds, 2007 Series A (Louisville Gas and Electric Company Project) due 2033 previously issued by the County of Trimble, Kentucky on behalf of LG&E. In June 2017, the Louisville/Jefferson County Metro Government of Kentucky remarketed $31 million of Environmental Facilities Revenue Refunding Bonds, 2007 Series A (Louisville Gas and Electric Company Project) due 2033 on behalf of LG&E. The bonds were remarketed at a long-term rate and will bear interest at 1.25% through their mandatory purchase date of June 3, 2019. In June 2017, the Louisville/Jefferson County Metro Government of Kentucky remarketed $35 million of Environmental Facilities Revenue Refunding Bonds, 2007 Series B (Louisville Gas and Electric Company Project) due 2033 on behalf of LG&E. The bonds were remarketed at a long-term rate and will bear interest at 1.25% through their mandatory purchase date of June 3, 2019. In April 2017, the Louisville/Jefferson County Metro Government of Kentucky remarketed $128 million of Pollution Control Revenue Bonds, 2003 Series A (Louisville Gas and Electric Company Project) due 2033 on behalf of LG&E. The bonds were remarketed at a long-term rate and will bear interest at 1.50% through their mandatory purchase date of April 1, 2019. (PPL) ATM Program In February 2015, PPL entered into two separate equity distribution agreements, pursuant to which PPL may sell, from time to time, up to an aggregate of $500 million of its common stock. For the periods ended June 30, PPL issued the following:
| Three Months |  | Six Months
| 2017 |  | 2016 |  | 2017 |  | 2016
Number of shares (in thousands) | 2,113 |  |  | — |  |  | 3,477 |  |  | — |
Average share price | $ | 39.15 |  |  | $ | — |  |  | $ | 38.17 |  |  | $ | — |
Net Proceeds | $ | 82 |  |  | $ | — |  |  | $ | 132 |  |  | $ | — |
Distributions In May 2017, PPL declared a quarterly common stock dividend, payable July 3, 2017, of 39.5 cents per share (equivalent to $1.58 per annum). Future dividends, declared at the discretion of the Board of Directors, will depend upon future earnings, cash flows, financial and legal requirements and other factors.

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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19,20,22) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
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