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Acquisitions, Development and Divestitures (Tables) | 12 Months Ended
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Dec. 31, 2022
Acquisitions, Development and Divestitures [Line Items] |
Disposal Group, Including Discontinued Operation, Income Statement Line Items | Following are the components of discontinued operations in the Statements of Income for the years ended December 31:
| 2022 |  | 2021 |  | 2020
Operating Revenues | $ | — |  |  | $ | 1,344 |  |  | $ | 2,133 |
Operating Expenses | — |  |  | 467 |  |  | 916 |
Other Income (Expense) - net | — |  |  | 202 |  |  | 167 |
Interest Expense (a) | — |  |  | 209 |  |  | 367 |
Income before income taxes | — |  |  | 870 |  |  | 1,017 |
Loss on sale | — |  |  | (1,609) |  |  | — |
Income tax (benefit) expense | (42) |  |  | 759 |  |  | 188 |
Income (Loss) from Discontinued Operations (net of income taxes) | $ | 42 |  |  | $ | (1,498) |  |  | $ | 829 |
(a)No interest from corporate level debt was allocated to discontinued operations.
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed | The table below shows the preliminary allocation of the purchase price to the assets acquired and liabilities assumed that were recorded in PPL’s Consolidated Balance Sheet as of the Acquisition date.
|  |  |  |  |  | Purchase Price Allocation as of December 31, 2022
Assets |  |  |  |  |  |
Current Assets |  |  |  |  |  |
Cash and Cash Equivalents |  |  |  |  |  | $ | 154 |
Accounts Receivable (a) |  |  |  |  |  | 195 |
Unbilled Revenues |  |  |  |  |  | 54 |
Price Risk Management Assets |  |  |  |  |  | 99 |
Regulatory Assets |  |  |  |  |  | 75 |
Other Current Assets |  |  |  |  |  | 65 |
Total Current Assets |  |  |  |  |  | 642 |
|  |  |  |  |  | Purchase Price Allocation as of December 31, 2022
Noncurrent Assets |  |  |  |  |  |
Property, Plant and Equipment, net |  |  |  |  |  | 3,988 |
Regulatory Assets |  |  |  |  |  | 395 |
Goodwill |  |  |  |  |  | 1,586 |
Other Noncurrent Assets |  |  |  |  |  | 166 |
Total Noncurrent Assets |  |  |  |  |  | 6,135 |
Total Assets |  |  |  |  |  | $ | 6,777 |
Liabilities |  |  |  |  |  |
Current Liabilities |  |  |  |  |  |
Long-Term Debt Due Within One Year |  |  |  |  |  | $ | 14 |
Accounts Payable |  |  |  |  |  | 180 |
Taxes Accrued |  |  |  |  |  | 44 |
Regulatory Liabilities |  |  |  |  |  | 239 |
Other Current Liabilities |  |  |  |  |  | 198 |
Total Current Liabilities |  |  |  |  |  | 675 |
Noncurrent Liabilities |  |  |  |  |  |
Long-Term Debt |  |  |  |  |  | 1,496 |
Regulatory Liabilities |  |  |  |  |  | 643 |
Other Deferred Credits and Noncurrent Liabilities |  |  |  |  |  | 143 |
Noncurrent Liabilities |  |  |  |  |  | 2,282 |
Total Purchase Price (Balance Sheet Net Assets) |  |  |  |  |  | $ | 3,820 |
(a)Amounts represent fair value as of May 25, 2022. The gross contractual amount is $255 million. Cash flows not expected to be collected as of May 25, 2022 were $60 million.
Business Acquisition, Pro Forma Information | The actual RIE Operating Revenues and Net income attributable to PPL included in PPL's Statement of Income for the period ended December 31, 2022, and PPL's unaudited pro forma 2022 and 2021 Operating Revenues and Net Income (Loss) attributable to PPL, including RIE, as if the Acquisition had occurred on January 1, 2021 are as follows.
|  |  |  |  |  | Operating Revenues |  | Net Income (Loss)
Actual RIE results included from May 25, 2022 - December 31, 2022 (a) |  |  |  |  |  | $ | 1,038 |  |  | $ | (44) |
PPL Pro Forma for the year ended 2022 |  |  |  |  |  | 8,667 |  |  | 790 |
PPL Pro Forma for the year ended 2021 |  |  |  |  |  | 7,478 |  |  | 159 |
(a)Net Income (Loss) includes expenses of $98 million (pre-tax) related to commitments made as a condition of the Acquisition.

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