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Revenue from Contracts with Customers | 3 Months Ended
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Mar. 31, 2022
Revenue from Contract with Customer [Abstract] |
Revenue from Contracts with Customers | 3. Revenue from Contracts with Customers (All Registrants) See Note 3 in the Registrants' 2021 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 March 31.
| 2022 Three Months
| PPL |  | PPL Electric |  | LG&E |  | KU
Operating Revenues (a) | $ | 1,782 |  |  | $ | 775 |  |  | $ | 493 |  |  | $ | 525 |
Revenues derived from: |  |  |  |  |  |  |
Alternative revenue programs (b) | (27) |  |  | (36) |  |  | 6 |  |  | 3 |
Other (c) | (7) |  |  | (4) |  |  | (2) |  |  | (1) |
Revenues from Contracts with Customers | $ | 1,748 |  |  | $ | 735 |  |  | $ | 497 |  |  | $ | 527 |
| 2021 Three Months
| PPL |  | PPL Electric |  | LG&E |  | KU
Operating Revenues (a) | $ | 1,498 |  |  | $ | 605 |  |  | $ | 428 |  |  | $ | 469 |
Revenues derived from: |  |  |  |  |  |  |
Alternative revenue programs (b) | 24 |  |  | 22 |  |  | — |  |  | 2 |
Other (c) | (6) |  |  | — |  |  | (3) |  |  | (3) |
Revenues from Contracts with Customers | $ | 1,516 |  |  | $ | 627 |  |  | $ | 425 |  |  | $ | 468 |
(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. See Note 2 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. 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. For PPL Electric, the three months ended March 31, 2022, includes $44 million related to the amortization of the regulatory liability recorded in 2021 for a reduction in the transmission formula rate return on equity that is reflected in rates in 2022. The three months ended March 31, 2021, included a $27 million revenue reduction recorded as a result of the challenge to the transmission formula rate return on equity. See Note 6 for additional information. (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 March 31.
| 2022 Three Months
| Residential |  | Commercial |  | Industrial |  | Other (a) |  | Wholesale - municipality |  | Wholesale - other (b) |  | Transmission |  | Revenues from Contracts with Customers
PPL |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
PA Regulated | $ | 453 |  |  | $ | 108 |  |  | $ | 15 |  |  | $ | 12 |  |  | $ | — |  |  | $ | — |  |  | $ | 147 |  |  | $ | 735 |
KY Regulated | 478 |  |  | 270 |  |  | 154 |  |  | 83 |  |  | 6 |  |  | 19 |  |  | — |  |  | 1,010 |
Corp and Other | — |  |  | — |  |  | — |  |  | 3 |  |  | — |  |  | — |  |  | — |  |  | 3 |
Total PPL | $ | 931 |  |  | $ | 378 |  |  | $ | 169 |  |  | $ | 98 |  |  | $ | 6 |  |  | $ | 19 |  |  | $ | 147 |  |  | $ | 1,748 |
PPL Electric | $ | 453 |  |  | $ | 108 |  |  | $ | 15 |  |  | $ | 12 |  |  | $ | — |  |  | $ | — |  |  | $ | 147 |  |  | $ | 735 |
LG&E | $ | 246 |  |  | $ | 146 |  |  | $ | 45 |  |  | $ | 39 |  |  | $ | — |  |  | $ | 21 |  |  | $ | — |  |  | $ | 497 |
KU | $ | 232 |  |  | $ | 124 |  |  | $ | 109 |  |  | $ | 44 |  |  | $ | 6 |  |  | $ | 12 |  |  | $ | — |  |  | $ | 527 |
| 2021 Three Months
| Residential |  | Commercial |  | Industrial |  | Other (a) |  | Wholesale - municipality |  | Wholesale - other (b) |  | Transmission |  | Revenues from Contracts with Customers
PPL |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
PA Regulated | $ | 361 |  |  | $ | 82 |  |  | $ | 12 |  |  | $ | 12 |  |  | $ | — |  |  | $ | — |  |  | $ | 160 |  |  | $ | 627 |
KY Regulated | 413 |  |  | 231 |  |  | 140 |  |  | 71 |  |  | 6 |  |  | 20 |  |  | — |  |  | 881 |
Corp and Other | — |  |  | — |  |  | — |  |  | 8 |  |  | — |  |  | — |  |  | — |  |  | 8 |
Total PPL | $ | 774 |  |  | $ | 313 |  |  | $ | 152 |  |  | $ | 91 |  |  | $ | 6 |  |  | $ | 20 |  |  | $ | 160 |  |  | $ | 1,516 |
PPL Electric | $ | 361 |  |  | $ | 82 |  |  | $ | 12 |  |  | $ | 12 |  |  | $ | — |  |  | $ | — |  |  | $ | 160 |  |  | $ | 627 |
LG&E | $ | 205 |  |  | $ | 121 |  |  | $ | 46 |  |  | $ | 34 |  |  | $ | — |  |  | $ | 19 |  |  | $ | — |  |  | $ | 425 |
KU | $ | 208 |  |  | $ | 110 |  |  | $ | 94 |  |  | $ | 37 |  |  | $ | 6 |  |  | $ | 13 |  |  | $ | — |  |  | $ | 468 |
(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 2021 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 March 31.
|  |  | Three Months
|  |  |  |  | 2022 |  | 2021
PPL |  |  |  |  | $ | 7 |  |  | $ | 2 |
PPL Electric |  |  |  |  | 5 |  |  | 1 |
LG&E |  |  |  |  | 1 |  |  | — |
KU |  |  |  |  | 1 |  |  | 1 |
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, 2021 | $ | 42 |  |  | $ | 25 |  |  | $ | 6 |  |  | $ | 6 |
Contract liabilities at March 31, 2022 | 33 |  |  | 17 |  |  | 4 |  |  | 5 |
Revenue recognized during the three months ended March 31, 2022 that was included in the contract liability balance at December 31, 2021 | 22 |  |  | 10 |  |  | 6 |  |  | 6 |
Contract liabilities at December 31, 2020 | $ | 40 |  |  | $ | 23 |  |  | $ | 5 |  |  | $ | 6 |
Contract liabilities at March 31, 2021 | 33 |  |  | 16 |  |  | 5 |  |  | 5 |
Revenue recognized during the three months ended March 31, 2021 that was included in the contract liability balance at December 31, 2020 | 21 |  |  | 9 |  |  | 5 |  |  | 6 |
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 generally recognized as revenue ratably over the quarterly billing period. Payments received in excess of revenues earned to date are recognized as revenue as services are delivered in subsequent periods. At March 31, 2022, PPL had $46 million of performance obligations attributable to Corporate and Other that have not been satisfied. Of this amount, PPL expects to recognize approximately $30 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=123351226&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=123351226&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=123351226&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=123351226&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=123351226&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=123351226&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=123351226&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=123351226&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=123351226&loc=SL49130554-203045 + Details
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