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Revenue from Contracts with Customers | 6 Months Ended
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Jun. 30, 2024
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' 2023 Form 10-K for a discussion of the principal activities from which PPL Electric, LG&E and KU and PPL’s Pennsylvania Regulated, Rhode Island Regulated, and Kentucky Regulated 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.
| 2024 Three Months
| PPL |  | PPL Electric |  | LG&E |  | KU
Operating Revenues (a) | $ | 1,881 |  |  | $ | 673 |  |  | $ | 366 |  |  | $ | 464 |
Revenues derived from: |  |  |  |  |  |  |
Alternative revenue programs (b) | (3) |  |  | (8) |  |  | 2 |  |  | 1 |
Other (c) | (4) |  |  | (3) |  |  | (1) |  |  | (1) |
Revenues from Contracts with Customers | $ | 1,874 |  |  | $ | 662 |  |  | $ | 367 |  |  | $ | 464 |
| 2023 Three Months
| PPL |  | PPL Electric |  | LG&E |  | KU
Operating Revenues (a) | $ | 1,823 |  |  | $ | 667 |  |  | $ | 355 |  |  | $ | 435 |
Revenues derived from: |  |  |  |  |  |  |
Alternative revenue programs (b) | 5 |  |  | 6 |  |  | — |  |  | (3) |
Other (c) | (7) |  |  | (5) |  |  | (1) |  |  | (1) |
Revenues from Contracts with Customers | $ | 1,821 |  |  | $ | 668 |  |  | $ | 354 |  |  | $ | 431 |
| 2024 Six Months
| PPL |  | PPL Electric |  | LG&E |  | KU
Operating Revenues (a) | $ | 4,185 |  |  | $ | 1,443 |  |  | $ | 842 |  |  | $ | 989 |
Revenues derived from: |  |  |  |  |  |  |
Alternative revenue programs (b) | 5 |  |  | (11) |  |  | 4 |  |  | 6 |
Other (c) | (12) |  |  | (8) |  |  | (2) |  |  | (2) |
Revenues from Contracts with Customers | $ | 4,178 |  |  | $ | 1,424 |  |  | $ | 844 |  |  | $ | 993 |
| 2023 Six Months
| PPL |  | PPL Electric |  | LG&E |  | KU
Operating Revenues (a) | $ | 4,238 |  |  | $ | 1,558 |  |  | $ | 829 |  |  | $ | 934 |
Revenues derived from: |  |  |  |  |  |  |
Alternative revenue programs (b) | 42 |  |  | 7 |  |  | 1 |  |  | (3) |
Other (c) | (11) |  |  | (7) |  |  | (2) |  |  | (2) |
Revenues from Contracts with Customers | $ | 4,269 |  |  | $ | 1,558 |  |  | $ | 828 |  |  | $ | 929 |
(a)PPL includes $389 million and $938 million for the three and six months ended June 30, 2024 and $377 million and $942 million for the three and six months ended June 30, 2023 of revenues from external customers reported by the Rhode Island Regulated segment. 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)This line item shows the over/under collection of rate mechanisms deemed alternative revenue programs 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.
| Three Months
| Residential |  | Commercial |  | Industrial |  | Other (a) |  | Wholesale - municipality |  | Wholesale - other (b) |  | Transmission |  | Revenues from Contracts with Customers
PPL |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
2024 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
PA Regulated | $ | 332 |  |  | $ | 101 |  |  | $ | 10 |  |  | $ | 15 |  |  | $ | — |  |  | $ | — |  |  | $ | 204 |  |  | $ | 662 |
KY Regulated | 326 |  |  | 245 |  |  | 157 |  |  | 75 |  |  | 5 |  |  | 13 |  |  | — |  |  | 821 |
RI Regulated | 139 |  |  | 42 |  |  | 3 |  |  | 162 |  |  | — |  |  | — |  |  | 45 |  |  | 391 |
Total PPL | $ | 797 |  |  | $ | 388 |  |  | $ | 170 |  |  | $ | 252 |  |  | $ | 5 |  |  | $ | 13 |  |  | $ | 249 |  |  | $ | 1,874 |
2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
PA Regulated | $ | 340 |  |  | $ | 105 |  |  | $ | 11 |  |  | $ | 13 |  |  | $ | — |  |  | $ | — |  |  | $ | 199 |  |  | $ | 668 |
KY Regulated | 298 |  |  | 237 |  |  | 160 |  |  | 66 |  |  | 4 |  |  | 9 |  |  | — |  |  | 774 |
RI Regulated | 141 |  |  | 49 |  |  | 4 |  |  | 149 |  |  | — |  |  | — |  |  | 36 |  |  | 379 |
Total PPL | $ | 779 |  |  | $ | 391 |  |  | $ | 175 |  |  | $ | 228 |  |  | $ | 4 |  |  | $ | 9 |  |  | $ | 235 |  |  | $ | 1,821 |
PPL Electric |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
2024 | $ | 332 |  |  | $ | 101 |  |  | $ | 10 |  |  | $ | 15 |  |  | $ | — |  |  | $ | — |  |  | $ | 204 |  |  | $ | 662 |
2023 | $ | 340 |  |  | $ | 105 |  |  | $ | 11 |  |  | $ | 13 |  |  | $ | — |  |  | $ | — |  |  | $ | 199 |  |  | $ | 668 |
LG&E |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
2024 | $ | 163 |  |  | $ | 121 |  |  | $ | 46 |  |  | $ | 31 |  |  | $ | — |  |  | $ | 6 |  |  | $ | — |  |  | $ | 367 |
2023 | $ | 151 |  |  | $ | 119 |  |  | $ | 47 |  |  | $ | 26 |  |  | $ | — |  |  | $ | 11 |  |  | $ | — |  |  | $ | 354 |
KU |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
2024 | $ | 163 |  |  | $ | 124 |  |  | $ | 111 |  |  | $ | 43 |  |  | $ | 5 |  |  | $ | 18 |  |  | $ | — |  |  | $ | 464 |
2023 | $ | 147 |  |  | $ | 117 |  |  | $ | 113 |  |  | $ | 40 |  |  | $ | 4 |  |  | $ | 10 |  |  | $ | — |  |  | $ | 431 |
| Six Months
| Residential |  | Commercial |  | Industrial |  | Other (a) |  | Wholesale - municipality |  | Wholesale - other (b) |  | Transmission |  | Revenues from Contracts with Customers
PPL |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
2024 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
PA Regulated | $ | 758 |  |  | $ | 207 |  |  | $ | 22 |  |  | $ | 28 |  |  | $ | — |  |  | $ | — |  |  | $ | 409 |  |  | $ | 1,424 |
KY Regulated | 769 |  |  | 512 |  |  | 318 |  |  | 172 |  |  | 11 |  |  | 28 |  |  | — |  |  | 1,810 |
RI Regulated | 400 |  |  | 120 |  |  | 8 |  |  | 324 |  |  | — |  |  | — |  |  | 92 |  |  | 944 |
Total PPL | $ | 1,927 |  |  | $ | 839 |  |  | $ | 348 |  |  | $ | 524 |  |  | $ | 11 |  |  | $ | 28 |  |  | $ | 501 |  |  | $ | 4,178 |
2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
PA Regulated | $ | 968 |  |  | $ | 253 |  |  | $ | 34 |  |  | $ | 26 |  |  | $ | — |  |  | $ | — |  |  | $ | 277 |  |  | $ | 1,558 |
KY Regulated | 741 |  |  | 511 |  |  | 324 |  |  | 126 |  |  | 11 |  |  | 20 |  |  | — |  |  | 1,733 |
RI Regulated | 370 |  |  | 150 |  |  | 13 |  |  | 364 |  |  | — |  |  | — |  |  | 81 |  |  | 978 |
Total PPL | $ | 2,079 |  |  | $ | 914 |  |  | $ | 371 |  |  | $ | 516 |  |  | $ | 11 |  |  | $ | 20 |  |  | $ | 358 |  |  | $ | 4,269 |
| Six Months
| Residential |  | Commercial |  | Industrial |  | Other (a) |  | Wholesale - municipality |  | Wholesale - other (b) |  | Transmission |  | Revenues from Contracts with Customers
PPL Electric |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
2024 | $ | 758 |  |  | $ | 207 |  |  | $ | 22 |  |  | $ | 28 |  |  | $ | — |  |  | $ | — |  |  | $ | 409 |  |  | $ | 1,424 |
2023 | $ | 968 |  |  | $ | 253 |  |  | $ | 34 |  |  | $ | 26 |  |  | $ | — |  |  | $ | — |  |  | $ | 277 |  |  | $ | 1,558 |
LG&E |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
2024 | $ | 381 |  |  | $ | 259 |  |  | $ | 93 |  |  | $ | 83 |  |  | $ | — |  |  | $ | 28 |  |  | $ | — |  |  | $ | 844 |
2023 | $ | 392 |  |  | $ | 271 |  |  | $ | 96 |  |  | $ | 42 |  |  | $ | — |  |  | $ | 27 |  |  | $ | — |  |  | $ | 828 |
KU |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
2024 | $ | 388 |  |  | $ | 253 |  |  | $ | 225 |  |  | $ | 89 |  |  | $ | 11 |  |  | $ | 27 |  |  | $ | — |  |  | $ | 993 |
2023 | $ | 349 |  |  | $ | 240 |  |  | $ | 228 |  |  | $ | 84 |  |  | $ | 11 |  |  | $ | 17 |  |  | $ | — |  |  | $ | 929 |
(a)Primarily includes revenues from pole attachments, street lighting, other public authorities and other non-core businesses. The Rhode Island Regulated segment primarily includes open access tariff revenues, which are calculated on combined customer classes. (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, PPL segments its business by geographic location. Revenues from external customers for each segment 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
| 2024 |  | 2023 |  | 2024 |  | 2023
PPL (a) | $ | 2 |  |  | $ | 6 |  |  | $ | 43 |  |  | $ | 26 |
PPL Electric (a) | (4) |  |  | 7 |  |  | 24 |  |  | 17 |
LG&E | — |  |  | — |  |  | 1 |  |  | 1 |
KU | — |  |  | 1 |  |  | 1 |  |  | 1 |
(a) 2024 includes amounts impaired related to PPL Electric's billing issues. See Note 6 for additional information. 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, 2023 | $ | 43 |  |  | $ | 29 |  |  | $ | 6 |  |  | $ | 7 |
Contract liabilities at June 30, 2024 | 31 |  |  | 22 |  |  | 4 |  |  | 5 |
Revenue recognized during the six months ended June 30, 2024 that was included in the contract liability balance at December 31, 2023 | 25 |  |  | 11 |  |  | 6 |  |  | 7 |
Contract liabilities at December 31, 2022 | $ | 34 |  |  | $ | 23 |  |  | $ | 5 |  |  | $ | 6 |
Contract liabilities at June 30, 2023 | 48 |  |  | 35 |  |  | 6 |  |  | 7 |
Revenue recognized during the six months ended June 30, 2023 that was included in the contract liability balance at December 31, 2022 | 18 |  |  | 7 |  |  | 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.

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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 -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-9 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-10 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-15 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-13 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Topic 606 -Publisher FASB -URI https://asc.fasb.org/606/tableOfContent + Details
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