XML 59 R41.htm IDEA: XBRL DOCUMENT
v3.22.1

Derivative Instruments and Hedging Activities (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2022 | Mar. 31, 2021
Derivative Instruments And Hedging Activities [Line Items] |  |
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value | The following table presents the fair value and the location on the Balance Sheets of derivatives not designated as hedging instruments.
|  |  |  |  | March 31, 2022 |  |  |  |  |  | December 31, 2021
|  |  |  |  | Assets |  | Liabilities |  |  |  |  |  | Assets |  | Liabilities
Current: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Price Risk Management |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Assets/Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate swaps (a) |  |  |  |  | $ | — |  |  | $ | 1 |  |  |  |  |  |  | $ | — |  |  | $ | 1 |
Total current |  |  |  |  | — |  |  | 1 |  |  |  |  |  |  | — |  |  | 1 |
Noncurrent: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Price Risk Management |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Assets/Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate swaps (a) |  |  |  |  | — |  |  | 13 |  |  |  |  |  |  | — |  |  | 17 |
Total noncurrent |  |  |  |  | — |  |  | 13 |  |  |  |  |  |  | — |  |  | 17 |
Total derivatives |  |  |  |  | $ | — |  |  | $ | 14 |  |  |  |  |  |  | $ | — |  |  | $ | 18 |
(a)Current portion is included in "Price risk management assets" and "Other current liabilities" and noncurrent portion is included in "Price risk management assets" and "Other deferred credits and noncurrent liabilities" on the Balance Sheets. Excludes accrued interest, if applicable. |
Derivative Instruments, Gain (Loss) | The following table presents the effect of cash flow hedge activity on the Statement of Income for the period ended March 31, 2022.
|  |  |  |  | Location and Amount of Gain (Loss) Recognized in Income on Hedging Relationships |
|  |  | Three Months |
|  |  |  |  | Interest Expense |  |  |  | Other Income (Expense) - net |
Total income and expense line items presented in the income statement in which the effect of cash flow hedges are recorded |  |  |  |  | $ | 107 |  |  |  |  | $ | — |  |
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) |  |  |  |  | — |  |
Cross-currency swaps: |  |  |  |  |  |  |  |  |  |
Hedged items |  |  |  |  | — |  |  |  |  | — |  |
Amount of gain (loss) reclassified from AOCI to Income |  |  |  |  | — |  |  |  |  | — |  |
| The following table presents the effect of cash flow hedge activity on the Statement of Income for the period ended March 31, 2021.
|  |  |  |  | Location and Amount of Gain (Loss) Recognized in Income on Hedging Relationships |
|  |  | Three Months |
|  |  |  |  | Interest Expense |  |  |  | Loss from Discontinued Operations (net of taxes) |
Total income and expense line items presented in the income statement in which the effect of cash flow hedges are recorded |  |  |  |  | $ | 153 |  |  |  |  | $ | (2,043) |  |
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) |  |  |  |  | 1 |  |
Cross-currency swaps: |  |  |  |  |  |  |  |  |  |
Hedged items |  |  |  |  | — |  |  |  |  | 37 |  |
Amount of gain (loss) reclassified from AOCI to Income |  |  |  |  | — |  |  |  |  | (37) |  |
Derivative Positions Eligible for Offset with Related Cash Collateral | The table below summarizes the derivative positions presented in the balance sheets where a right of setoff exists under these arrangements and related cash collateral received or pledged.
| Assets |  | Liabilities
|  |  | Eligible for Offset |  |  |  |  |  | Eligible for Offset |  |
| Gross |  | Derivative Instruments |  | Cash Collateral Received |  | Net |  | Gross |  | Derivative Instruments |  | Cash Collateral Pledged |  | Net
March 31, 2022 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Treasury Derivatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
PPL | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 14 |  |  | $ | — |  |  | $ | — |  |  | $ | 14 |
LG&E | — |  |  | — |  |  | — |  |  | — |  |  | 14 |  |  | — |  |  | — |  |  | 14 |
| Assets |  | Liabilities
|  |  | Eligible for Offset |  |  |  |  |  | Eligible for Offset |  |
| Gross |  | Derivative Instruments |  | Cash Collateral Received |  | Net |  | Gross |  | Derivative Instruments |  | Cash Collateral Pledged |  | Net
December 31, 2021 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Treasury Derivatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
PPL | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 18 |  |  | $ | — |  |  | $ | — |  |  | $ | 18 |
LG&E | — |  |  | — |  |  | — |  |  | — |  |  | 18 |  |  | — |  |  | — |  |  | 18 |
Schedule of Derivatives Instruments Statements of Financial Performance and Financial Position, Location | The following tables present the pre-tax effect of derivative instruments recognized in income, OCI or regulatory assets and regulatory liabilities for the period ended March 31, 2022.
|  |  |  | Three Months |  |  |  |  |  | Three Months
Derivative Relationships |  |  |  | Derivative Gain (Loss) Recognized in OCI |  | Location of Gain (Loss) Recognized in Income on Derivative |  |  |  | Gain (Loss) Reclassified from AOCI into Income
Cash Flow Hedges: |  |  |  |  |  |  |  |  |  |
Interest rate swaps |  |  |  | $ | — |  |  | Interest expense |  |  |  | $ | (1) |
Total |  |  |  | $ | — |  |  |  |  |  |  | $ | (1) |
Derivatives Not Designated as Hedging Instruments |  | Location of Gain (Loss) Recognized in Income on Derivative |  |  |  | Three Months
Interest rate swaps |  | Interest expense |  |  |  | $ | 1 |
Derivatives Not Designated as Hedging Instruments |  | Location of Gain (Loss) Recognized as Regulatory Liabilities/Assets |  |  |  | Three Months
Interest rate swaps |  | Regulatory assets - noncurrent |  |  |  | $ | 4 |
| The following tables present the pre-tax effect of derivative instruments recognized in income, OCI or regulatory assets and regulatory liabilities for the period ended March 31, 2021.
|  |  |  | Three Months |  |  |  |  |  | Three Months
Derivative Relationships |  |  |  | Derivative Gain (Loss) Recognized in OCI |  | Location of Gain (Loss) Recognized in Income on Derivative |  |  |  | Gain (Loss) Reclassified from AOCI into Income
Cash Flow Hedges: |  |  |  |  |  |  |  |  |  |
Interest rate swaps |  |  |  | $ | — |  |  | Interest expense |  |  |  | $ | (1) |
|  |  |  |  |  | Loss from Discontinued Operations (net of taxes) |  |  |  | (1) |
Cross-currency swaps |  |  |  | (46) |  |  | Loss from Discontinued Operations (net of taxes) |  |  |  | (37) |
Total |  |  |  | $ | (46) |  |  |  |  |  |  | $ | (39) |
Net Investment Hedges: |  |  |  |  |  |  |  |  |  |
Foreign currency contracts in discontinued operations |  |  |  | $ | 1 |  |  |  |  |  |  |
Derivatives Not Designated as Hedging Instruments |  | Location of Gain (Loss) Recognized in Income on Derivative |  |  |  | Three Months
Foreign currency contracts |  | Loss from Discontinued operations (net of taxes) |  |  |  | $ | (25) |
Interest rate swaps |  | Interest expense |  |  |  | (1) |
|  | Total |  |  |  | $ | (26) |
Derivatives Not Designated as Hedging Instruments |  | Location of Gain (Loss) Recognized as Regulatory Liabilities/Assets |  |  |  | Three Months
Interest rate swaps |  | Regulatory assets - noncurrent |  |  |  | $ | 6 |
Louisville Gas And Electric Co [Member] |  |
Derivative Instruments And Hedging Activities [Line Items] |  |
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value | The following table presents the fair value and the location on the Balance Sheets of derivatives not designated as hedging instruments.
| March 31, 2022 |  | December 31, 2021
| 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: |  |  |  |  |  |  |
Interest rate swaps | — |  |  | 13 |  |  | — |  |  | 17 |
Total noncurrent | — |  |  | 13 |  |  | — |  |  | 17 |
Total derivatives | $ | — |  |  | $ | 14 |  |  | $ | — |  |  | $ | 18 |
Derivative Instruments, Gain (Loss) | The following tables present the pre-tax effect of derivatives not designated as cash flow hedges that are recognized in income or regulatory assets for the period ended March 31, 2022.
|  | Location of Gain (Loss) Recognized in |  |  |  |
Derivative Instruments |  | Income on Derivatives |  |  |  | Three Months
Interest rate swaps |  | Interest expense |  |  |  | $ | 1 |
|  | Location of Gain (Loss) Recognized in |  |  |  |
Derivative Instruments |  | Regulatory Assets |  |  |  | Three Months
Interest rate swaps |  | Regulatory assets - noncurrent |  |  |  | $ | 4 |
| The following tables present the pre-tax effect of derivatives not designated as cash flow hedges that are recognized in income or regulatory assets for the period ended March 31, 2021.
|  | Location of Gain (Loss) Recognized in |  |  |  |
Derivative Instruments |  | Income on Derivatives |  |  |  | Three Months
Interest rate swaps |  | Interest expense |  |  |  | $ | (1) |
|  | Location of Gain (Loss) Recognized in |  |  |  |
Derivative Instruments |  | Regulatory Assets |  |  |  | Three Months
Interest rate swaps |  | Regulatory assets - noncurrent |  |  |  | $ | 6 |
Derivative Positions Eligible for Offset with Related Cash Collateral | The table below summarizes the derivative positions presented in the balance sheets where a right of setoff exists under these arrangements and related cash collateral received or pledged.
| Assets |  | Liabilities
|  |  | Eligible for Offset |  |  |  |  |  | Eligible for Offset |  |
| Gross |  | Derivative Instruments |  | Cash Collateral Received |  | Net |  | Gross |  | Derivative Instruments |  | Cash Collateral Pledged |  | Net
March 31, 2022 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Treasury Derivatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
PPL | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 14 |  |  | $ | — |  |  | $ | — |  |  | $ | 14 |
LG&E | — |  |  | — |  |  | — |  |  | — |  |  | 14 |  |  | — |  |  | — |  |  | 14 |
| Assets |  | Liabilities
|  |  | Eligible for Offset |  |  |  |  |  | Eligible for Offset |  |
| Gross |  | Derivative Instruments |  | Cash Collateral Received |  | Net |  | Gross |  | Derivative Instruments |  | Cash Collateral Pledged |  | Net
December 31, 2021 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Treasury Derivatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
PPL | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 18 |  |  | $ | — |  |  | $ | — |  |  | $ | 18 |
LG&E | — |  |  | — |  |  | — |  |  | — |  |  | 18 |  |  | — |  |  | — |  |  | 18 |

X
- References No definition available. + Details
Name: | ppl_DerivativeInstrumentsAndHedgingActivitiesLineItems
Namespace Prefix: | ppl_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of derivative and other financial assets and liabilities that are subject to offsetting, including master netting arrangements. + References No definition available. + Details
Name: | ppl_OffsettingAssetsAndLiabilitiesTableTextBlock
Namespace Prefix: | ppl_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4E -URI http://asc.fasb.org/extlink&oid=125515794&loc=SL5624181-113959 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=125515794&loc=SL5618551-113959 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -URI http://asc.fasb.org/extlink&oid=125515794&loc=SL5624171-113959 + Details
Name: | us-gaap_ScheduleOfDerivativeInstrumentsGainLossInStatementOfFinancialPerformanceTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -URI http://asc.fasb.org/extlink&oid=125515794&loc=SL5624163-113959 + Details
Name: | us-gaap_ScheduleOfDerivativeInstrumentsInStatementOfFinancialPositionFairValueTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of derivative instruments (including nonderivative instruments that are designated and qualify as hedging instruments) of (a) the location and amount of gains and losses reported in the statement of financial performance and (b) the location and fair value amounts of the instruments reported in the statement of financial position. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -URI http://asc.fasb.org/extlink&oid=125515794&loc=SL5618551-113959 + Details
Name: | us-gaap_ScheduleOfDerivativesInstrumentsStatementsOfFinancialPerformanceAndFinancialPositionLocationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Details
Name: | dei_LegalEntityAxis=ppl_LouisvilleGasAndElectricCoMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |