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Revenue from Contracts with Customers | 6 Months Ended
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Jun. 30, 2021
Revenue from Contract with Customer [Abstract] |
Revenue from Contracts with Customers | 4. Revenue from Contracts with Customers (All Registrants) See Note 3 in PPL's 2020 Form 10-K for a discussion of the principal activities from which the Registrants and PPL’s segments generate their revenues. The following tables reconcile "Operating Revenues" included in each Registrant's Statement of Income with revenues generated from contracts with customers for the periods ended June 30.
| 2021 Three Months
| PPL |  | PPL Electric |  | LG&E |  | KU
Operating Revenues (a) | $ | 1,288 |  |  | $ | 537 |  |  | $ | 342 |  |  | $ | 411 |
Revenues derived from: |  |  |  |  |  |  |
Alternative revenue programs (b) | 19 |  |  | 24 |  |  | (1) |  |  | (4) |
Other (c) | (5) |  |  | — |  |  | (2) |  |  | (3) |
Revenues from Contracts with Customers | $ | 1,302 |  |  | $ | 561 |  |  | $ | 339 |  |  | $ | 404 |
| 2020 Three Months
| PPL |  | PPL Electric |  | LG&E |  | KU
Operating Revenues (a) | $ | 1,263 |  |  | $ | 554 |  |  | $ | 322 |  |  | $ | 388 |
Revenues derived from: |  |  |  |  |  |  |
Alternative revenue programs (b) | (8) |  |  | (1) |  |  | (1) |  |  | (6) |
Other (c) | (5) |  |  | (1) |  |  | (1) |  |  | (3) |
Revenues from Contracts with Customers | $ | 1,250 |  |  | $ | 552 |  |  | $ | 320 |  |  | $ | 379 |
| 2021 Six Months
| PPL |  | PPL Electric |  | LG&E |  | KU
Operating Revenues (a) | $ | 2,786 |  |  | $ | 1,142 |  |  | $ | 770 |  |  | $ | 880 |
Revenues derived from: |  |  |  |  |  |  |
Alternative revenue programs (b) | 43 |  |  | 46 |  |  | (1) |  |  | (2) |
Other (c) | (11) |  |  | — |  |  | (5) |  |  | (6) |
Revenues from Contracts with Customers | $ | 2,818 |  |  | $ | 1,188 |  |  | $ | 764 |  |  | $ | 872 |
| 2020 Six Months
| PPL |  | PPL Electric |  | LG&E |  | KU
Operating Revenues (a) | $ | 2,703 |  |  | $ | 1,162 |  |  | $ | 729 |  |  | $ | 820 |
Revenues derived from: |  |  |  |  |  |  |
Alternative revenue programs (b) | (11) |  |  | (1) |  |  | (4) |  |  | (6) |
Other (c) | (13) |  |  | (3) |  |  | (4) |  |  | (6) |
Revenues from Contracts with Customers | $ | 2,679 |  |  | $ | 1,158 |  |  | $ | 721 |  |  | $ | 808 |
(a)PPL Electric represents revenues from external customers reported by the Pennsylvania Regulated segment and LG&E and KU, net of intercompany power sales and transmission revenues, represent revenues from external customers reported by the Kentucky Regulated segment. Kentucky Regulated segment revenues from contracts with customers were $731 million and $1,612 million for the three and six month periods ended June 30, 2021 and $689 million and $1,505 million for the three and six month periods ended June 30, 2020. See Note 3 for additional information. (b)Alternative revenue programs include the transmission formula rate for PPL Electric, the ECR and DSM programs for LG&E and KU, the GLT program and gas supply clause incentive mechanism for LG&E, and the generation formula rate for KU. For PPL Electric, the three months and six months ended June 30, 2021 include a $24 million and $51 million reserve recorded as a result of a challenge to the transmission formula rate return on equity. See Note 7 for further information. This line item shows the over/under collection of these rate mechanisms with over-collections of revenue shown as positive amounts in the table above and under-collections shown as negative amounts. (c)Represents additional revenues outside the scope of revenues from contracts with customers, such as lease and other miscellaneous revenues. The following tables show revenues from contracts with customers disaggregated by customer class for the periods ended June 30.
| 2021 Three Months
| PPL |  | PPL Electric |  | LG&E |  | KU
Residential | $ | 567 |  |  | $ | 279 |  |  | $ | 144 |  |  | $ | 144 |
Commercial | 297 |  |  | 83 |  |  | 107 |  |  | 107 |
Industrial | 154 |  |  | 13 |  |  | 43 |  |  | 98 |
Other (a) | 93 |  |  | 13 |  |  | 31 |  |  | 39 |
Wholesale - municipality | 5 |  |  | — |  |  | — |  |  | 5 |
Wholesale - other (b) | 13 |  |  | — |  |  | 14 |  |  | 11 |
Transmission | 173 |  |  | 173 |  |  | — |  |  | — |
Revenues from Contracts with Customers | $ | 1,302 |  |  | $ | 561 |  |  | $ | 339 |  |  | $ | 404 |
| 2020 Three Months
| PPL |  | PPL Electric |  | LG&E |  | KU
Residential | $ | 583 |  |  | $ | 290 |  |  | $ | 149 |  |  | $ | 144 |
Commercial | 274 |  |  | 74 |  |  | 100 |  |  | 100 |
Industrial | 134 |  |  | 12 |  |  | 38 |  |  | 84 |
Other (a) | 83 |  |  | 12 |  |  | 28 |  |  | 34 |
Wholesale - municipality | 3 |  |  | — |  |  | — |  |  | 3 |
Wholesale - other (b) | 9 |  |  | — |  |  | 5 |  |  | 14 |
Transmission | 164 |  |  | 164 |  |  | — |  |  | — |
Revenues from Contracts with Customers | $ | 1,250 |  |  | $ | 552 |  |  | $ | 320 |  |  | $ | 379 |
| 2021 Six Months
| PPL |  | PPL Electric |  | LG&E |  | KU
Residential | $ | 1,341 |  |  | $ | 640 |  |  | $ | 349 |  |  | $ | 352 |
Commercial | 610 |  |  | 165 |  |  | 228 |  |  | 217 |
Industrial | 306 |  |  | 25 |  |  | 89 |  |  | 192 |
Other (a) | 184 |  |  | 25 |  |  | 65 |  |  | 76 |
Wholesale - municipality | 11 |  |  | — |  |  | — |  |  | 11 |
Wholesale - other (b) | 33 |  |  | — |  |  | 33 |  |  | 24 |
Transmission | 333 |  |  | 333 |  |  | — |  |  | — |
Revenues from Contracts with Customers | $ | 2,818 |  |  | $ | 1,188 |  |  | $ | 764 |  |  | $ | 872 |
| 2020 Six Months
| PPL |  | PPL Electric |  | LG&E |  | KU
Residential | $ | 1,297 |  |  | $ | 634 |  |  | $ | 336 |  |  | $ | 327 |
Commercial | 586 |  |  | 155 |  |  | 224 |  |  | 207 |
Industrial | 278 |  |  | 20 |  |  | 83 |  |  | 175 |
Other (a) | 170 |  |  | 26 |  |  | 56 |  |  | 72 |
Wholesale - municipality | 8 |  |  | — |  |  | — |  |  | 8 |
Wholesale - other (b) | 17 |  |  | — |  |  | 22 |  |  | 19 |
Transmission | 323 |  |  | 323 |  |  | — |  |  | — |
Revenues from Contracts with Customers | $ | 2,679 |  |  | $ | 1,158 |  |  | $ | 721 |  |  | $ | 808 |
(a)Primarily includes revenues from pole attachments, street lighting, other public authorities and other non-core businesses. (b)Includes wholesale power and transmission revenues. LG&E and KU amounts include intercompany power sales and transmission revenues, which are eliminated upon consolidation at the Kentucky Regulated segment. As discussed in Note 2 in PPL's 2020 Form 10-K, PPL segments its business by geographic location. Revenues from external customers for each segment/geographic location are reconciled to revenues from contracts with customers in the footnotes to the tables above. Contract receivables from customers are primarily included in "Accounts receivable - Customer", "Unbilled revenues", and "Other noncurrent assets" on the Balance Sheets. The following table shows the accounts receivable and unbilled revenues balances that were impaired for the periods ended June 30.
| Three Months |  | Six Months
| 2021 |  | 2020 |  | 2021 |  | 2020
PPL | $ | — |  |  | $ | 6 |  |  | $ | 2 |  |  | $ | 12 |
PPL Electric | — |  |  | 5 |  |  | 1 |  |  | 9 |
LG&E | — |  |  | — |  |  | — |  |  | 1 |
KU | — |  |  | 1 |  |  | 1 |  |  | 2 |
The following table shows the balances and certain activity of contract liabilities resulting from contracts with customers.
| PPL |  | PPL Electric |  | LG&E |  | KU
Contract liabilities at December 31, 2020 | $ | 40 |  |  | $ | 23 |  |  | $ | 5 |  |  | $ | 6 |
Contract liabilities at June 30, 2021 | 31 |  |  | 16 |  |  | 5 |  |  | 5 |
Revenue recognized during the six months ended June 30, 2021 that was included in the contract liability balance at December 31, 2020 | 24 |  |  | 11 |  |  | 5 |  |  | 6 |
Contract liabilities at December 31, 2019 | $ | 37 |  |  | $ | 21 |  |  | $ | 5 |  |  | $ | 4 |
Contract liabilities at June 30, 2020 | 30 |  |  | 16 |  |  | 4 |  |  | 5 |
Revenue recognized during the six months ended June 30, 2020 that was included in the contract liability balance at December 31, 2019 | 21 |  |  | 9 |  |  | 5 |  |  | 4 |
Contract liabilities result from recording contractual billings in advance for customer attachments to the Registrants' infrastructure and payments received in excess of revenues earned to date. Advanced billings for customer attachments are recognized as revenue ratably over the billing period. Payments received in excess of revenues earned to date are recognized as revenue as services are delivered in subsequent periods. At June 30, 2021, PPL had $48 million of performance obligations attributable to Corporate and Other that have not been satisfied. Of this amount, PPL expects to recognize approximately $42 million within the next 12 months.

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- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -URI http://asc.fasb.org/topic&trid=49130388 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130551-203045 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (b)(2) -URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130556-203045 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130550-203045 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130558-203045 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045 + Details
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