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Financing Activities | 6 Months Ended
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Jun. 30, 2019
Debt Disclosure [Abstract] |
Financing Activities | 8. Financing Activities Credit Arrangements and Short-term Debt (All Registrants) The Registrants maintain credit facilities to enhance liquidity, provide credit support and act as 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 listed in the borrowed column below are recorded as "Short-term debt" on the Balance Sheets, except for amounts borrowed under LG&E's Term Loan Facility which were recorded as "Long-term debt due within one year" on the December 31, 2018 Balance Sheet. The following credit facilities were in place at:
| June 30, 2019 |  | December 31, 2018
| 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. 2023 |  | £ | 210 |  |  | £ | 158 |  |  | £ | — |  |  | £ | 52 |  |  | £ | 157 |  |  | £ | — |
WPD (South West) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Syndicated Credit Facility | July 2021 |  | 245 |  |  | — |  |  | — |  |  | 245 |  |  | — |  |  | — |
WPD (East Midlands) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Syndicated Credit Facility (b) | July 2021 |  | 300 |  |  | 81 |  |  | — |  |  | 219 |  |  | 38 |  |  | — |
WPD (West Midlands) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Syndicated Credit Facility (c) | July 2021 |  | 300 |  |  | 33 |  |  | — |  |  | 267 |  |  | — |  |  | — |
Uncommitted Credit Facilities |  |  | 100 |  |  | — |  |  | 4 |  |  | 96 |  |  | — |  |  | 4 |
Total U.K. Credit Facilities (d) |  |  | £ | 1,155 |  |  | £ | 272 |  |  | £ | 4 |  |  | £ | 879 |  |  | £ | 195 |  |  | £ | 4 |
U.S. |  |  |  |  |  |  |  |  |  |  |  |  |
PPL Capital Funding |  |  |  |  |  |  |  |  |  |  |  |  |
Syndicated Credit Facility | Jan. 2024 |  | $ | 1,450 |  |  | $ | — |  |  | $ | 1,014 |  |  | $ | 436 |  |  | $ | — |  |  | $ | 669 |
Bilateral Credit Facility | Mar. 2020 |  | 100 |  |  | — |  |  | 15 |  |  | 85 |  |  | — |  |  | 15 |
Total PPL Capital Funding Credit Facilities |  |  | $ | 1,550 |  |  | $ | — |  |  | $ | 1,029 |  |  | $ | 521 |  |  | $ | — |  |  | $ | 684 |
| June 30, 2019 |  | December 31, 2018
| Expiration Date |  | Capacity |  | Borrowed |  | Letters of Credit and Commercial Paper Issued |  | Unused Capacity |  | Borrowed |  | Letters of Credit and Commercial Paper Issued
PPL Electric |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Syndicated Credit Facility | Jan. 2024 |  | $ | 650 |  |  | $ | — |  |  | $ | 186 |  |  | $ | 464 |  |  | $ | — |  |  | $ | 1 |
LG&E |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Syndicated Credit Facility | Jan. 2024 |  | $ | 500 |  |  | $ | — |  |  | $ | 96 |  |  | $ | 404 |  |  | $ | — |  |  | $ | 279 |
Term Loan Credit Facility | Oct. 2019 |  | — |  |  | — |  |  | — |  |  | — |  |  | 200 |  |  | — |
Total LG&E Credit Facilities |  |  | $ | 500 |  |  | $ | — |  |  | $ | 96 |  |  | $ | 404 |  |  | $ | 200 |  |  | $ | 279 |
KU |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Syndicated Credit Facility | Jan. 2024 |  | $ | 400 |  |  | $ | — |  |  | $ | — |  |  | $ | 400 |  |  | $ | — |  |  | $ | 235 |
Letter of Credit Facility | Oct. 2020 |  | 198 |  |  | — |  |  | 198 |  |  | — |  |  | — |  |  | 198 |
Total KU Credit Facilities |  |  | $ | 598 |  |  | $ | — |  |  | $ | 198 |  |  | $ | 400 |  |  | $ | — |  |  | $ | 433 |
(a) | The amounts borrowed at June 30, 2019 and December 31, 2018 were USD-denominated borrowings of $200 million for both periods, which bore interest at 3.25% and 3.17%.
(b) | The amounts borrowed at June 30, 2019 and December 31, 2018 were GBP-denominated borrowings which equated to $102 million and $48 million and bore interest at 1.13% and 1.12%.
(c) | The amount borrowed at June 30, 2019 was GBP-denominated borrowings which equated to $41 million and bore interest at 1.13%.
(d) | At June 30, 2019, the unused capacity under the U.K. credit facilities was $1.1 billion.
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 credit facilities. The following commercial paper programs were in place at:
| June 30, 2019 |  | December 31, 2018
| Weighted - Average Interest Rate |  | Capacity |  | Commercial Paper Issuances |  | Unused Capacity |  | Weighted - Average Interest Rate |  | Commercial Paper Issuances
PPL Capital Funding | 2.74% |  | $ | 1,500 |  |  | $ | 1,014 |  |  | $ | 486 |  |  | 2.82% |  | $ | 669 |
PPL Electric | 2.59% |  | 650 |  |  | 185 |  |  | 465 |  |  |  |  | — |
LG&E | 2.59% |  | 350 |  |  | 96 |  |  | 254 |  |  | 2.94% |  | 279 |
KU |  |  | 350 |  |  | — |  |  | 350 |  |  | 2.94% |  | 235 |
Total |  |  | $ | 2,850 |  |  | $ | 1,295 |  |  | $ | 1,555 |  |  |  |  | $ | 1,183 |
(PPL Electric, LKE, LG&E, and KU) See Note 12 for discussion of intercompany borrowings. Long-term Debt (PPL) In June 2019, WPD plc executed and drew £50 million under a 5-year term loan facility due 2024 at a rate of 2.189%, to be reset quarterly as detailed in the terms of the agreement. The borrowing equated to $63 million at the time of drawdown, net of fees. The proceeds were used for general corporate purposes. (PPL, LKE and LG&E) In April 2019, LG&E issued $400 million of 4.25% First Mortgage Bonds due 2049. LG&E received proceeds of $396 million, net of discounts and underwriting fees, which were used to repay commercial paper and LG&E's term loan. In April 2019, the County of Jefferson, Kentucky remarketed $128 million of Pollution Control Revenue Bonds, 2001 Series A (Louisville Gas and Electric Company Project) due 2033 previously issued on behalf of LG&E. The bonds were remarketed at a long-term rate and will bear interest at 1.85% through their mandatory purchase date of April 1, 2021. In June 2019, 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 previously issued on behalf of LG&E. The bonds were remarketed at a long-term rate and will bear interest at 1.65% through their mandatory purchase date of June 1, 2021. In June 2019, the Louisville/Jefferson Country Metro Government of Kentucky remarketed $35 million of Environmental Facilities Revenue Refunding Bonds, 2007 Series B (Louisville Gas and Electric Company Project) due 2033 previously issued on behalf of LG&E. The bonds were remarketed at a long-term rate and will bear interest at 1.65% through their mandatory purchase date of June 1, 2021. In June 2019, LG&E issued a notice to bondholders of its intention to convert the $40 million Louisville/Jefferson County Metro Government of Kentucky Pollution Control Revenue Bonds, 2005 Series A (Louisville Gas and Electric Company Project) to a weekly interest rate, as permitted under the loan documents. The conversion was completed on August 1, 2019. In connection with the conversion, LG&E purchased these bonds from the remarketing agent and will hold them until a later date, at which time LG&E may refinance, remarket or further convert such bonds. (PPL, LKE and KU) In April 2019, KU reopened its 4.375% First Mortgage Bonds due 2045 and issued an additional $300 million of this series. KU received proceeds of $303 million, including premiums and underwriting fees, which were used to repay commercial paper and for other general corporate purposes. (PPL) Equity Securities ATM Program In February 2018, PPL entered into an equity distribution agreement, pursuant to which PPL may sell, from time to time, up to an aggregate of $1.0 billion of its common stock through an at-the-market offering program; including a forward sales component. The compensation paid to the selling agents by PPL may be up to 2% of the gross offering proceeds of the shares. There were no issuances under the ATM program for the six months ended June 30, 2019. Distributions In May 2019, PPL declared a quarterly common stock dividend, payable July 1, 2019, of 41.25 cents per share (equivalent to $1.65 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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -URI http://asc.fasb.org/topic&trid=2208564 + Details
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