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Fair Value Measurements (Tables) | 6 Months Ended
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Jun. 30, 2024
Fair Value Disclosures [Abstract] |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis | The assets and liabilities measured at fair value were:
| June 30, 2024 |  | December 31, 2023
| Total |  | Level 1 |  | Level 2 |  | Level 3 |  | Total |  | Level 1 |  | Level 2 |  | Level 3
PPL |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 282 |  |  | $ | 282 |  |  | $ | — |  |  | $ | — |  |  | $ | 331 |  |  | $ | 331 |  |  | $ | — |  |  | $ | — |
Restricted cash and cash equivalents (a) | 42 |  |  | 42 |  |  | — |  |  | — |  |  | 51 |  |  | 51 |  |  | — |  |  | — |
Total Cash, Cash Equivalents and Restricted Cash (b) | 324 |  |  | 324 |  |  | — |  |  | — |  |  | 382 |  |  | 382 |  |  | — |  |  | — |
Special use funds (a): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Money market fund | 1 |  |  | 1 |  |  | — |  |  | — |  |  | 1 |  |  | 1 |  |  | — |  |  | — |
Commingled debt fund measured at NAV (c) | 6 |  |  | — |  |  | — |  |  | — |  |  | 9 |  |  | — |  |  | — |  |  | — |
Commingled equity fund measured at NAV (c) | 5 |  |  | — |  |  | — |  |  | — |  |  | 8 |  |  | — |  |  | — |  |  | — |
Total special use funds | 12 |  |  | 1 |  |  | — |  |  | — |  |  | 18 |  |  | 1 |  |  | — |  |  | — |
Price risk management assets (d): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Gas contracts | 2 |  |  | — |  |  | — |  |  | 2 |  |  | 1 |  |  | — |  |  | 1 |  |  | — |
Total assets | $ | 338 |  |  | $ | 325 |  |  | $ | — |  |  | $ | 2 |  |  | $ | 401 |  |  | $ | 383 |  |  | $ | 1 |  |  | $ | — |
Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Price risk management liabilities (d): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate swaps | $ | 4 |  |  | $ | — |  |  | $ | 4 |  |  | $ | — |  |  | $ | 7 |  |  | $ | — |  |  | $ | 7 |  |  | $ | — |
Gas contracts | 22 |  |  | — |  |  | 22 |  |  | — |  |  | 60 |  |  | — |  |  | 41 |  |  | 19 |
Total price risk management liabilities | $ | 26 |  |  | $ | — |  |  | $ | 26 |  |  | $ | — |  |  | $ | 67 |  |  | $ | — |  |  | $ | 48 |  |  | $ | 19 |
PPL Electric |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 13 |  |  | $ | 13 |  |  | $ | — |  |  | $ | — |  |  | $ | 51 |  |  | $ | 51 |  |  | $ | — |  |  | $ | — |
Total assets | $ | 13 |  |  | $ | 13 |  |  | $ | — |  |  | $ | — |  |  | $ | 51 |  |  | $ | 51 |  |  | $ | — |  |  | $ | — |
LG&E |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 8 |  |  | $ | 8 |  |  | $ | — |  |  | $ | — |  |  | $ | 18 |  |  | $ | 18 |  |  | $ | — |  |  | $ | — |
Restricted cash and cash equivalents (a) | 20 |  |  | 20 |  |  | — |  |  | — |  |  | 26 |  |  | 26 |  |  | — |  |  | — |
Total Cash, Cash Equivalents and Restricted Cash (b) | 28 |  |  | 28 |  |  | — |  |  | — |  |  | 44 |  |  | 44 |  |  | — |  |  | — |
Total assets | $ | 28 |  |  | $ | 28 |  |  | $ | — |  |  | $ | — |  |  | $ | 44 |  |  | $ | 44 |  |  | $ | — |  |  | $ | — |
| June 30, 2024 |  | December 31, 2023
| Total |  | Level 1 |  | Level 2 |  | Level 3 |  | Total |  | Level 1 |  | Level 2 |  | Level 3
Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Price risk management liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate swaps | $ | 4 |  |  | $ | — |  |  | $ | 4 |  |  | $ | — |  |  | $ | 7 |  |  | $ | — |  |  | $ | 7 |  |  | $ | — |
Total price risk management liabilities | $ | 4 |  |  | $ | — |  |  | $ | 4 |  |  | $ | — |  |  | $ | 7 |  |  | $ | — |  |  | $ | 7 |  |  | $ | — |
KU |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 11 |  |  | $ | 11 |  |  | $ | — |  |  | $ | — |  |  | $ | 14 |  |  | $ | 14 |  |  | $ | — |  |  | $ | — |
Restricted cash and cash equivalents (a) | 20 |  |  | 20 |  |  | — |  |  | — |  |  | 24 |  |  | 24 |  |  | — |  |  | — |
Total Cash, Cash Equivalents and Restricted Cash (b) | 31 |  |  | 31 |  |  | — |  |  | — |  |  | 38 |  |  | 38 |  |  | — |  |  | — |
Total assets | $ | 31 |  |  | $ | 31 |  |  | $ | — |  |  | $ | — |  |  | $ | 38 |  |  | $ | 38 |  |  | $ | — |  |  | $ | — |
(a)Current portion is included in "Other current assets" and noncurrent portion is included in "Other noncurrent assets" on the Balance Sheets. (b)Total Cash, Cash Equivalents and Restricted Cash provides a reconciliation of these items reported within the Balance Sheets to the sum shown on the Statements of Cash Flows. (c)In accordance with accounting guidance, certain investments that are measured at fair value using net asset value per share (NAV), or its equivalent, have not been classified in the fair value hierarchy. The fair value amounts presented in the table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the Balance Sheets. (d)Current portion is included in "Other current asset" and "Other current liabilities" and noncurrent portion is included in "Other noncurrent assets" and "Other deferred credits and noncurrent liabilities" on the Balance Sheets. A reconciliation of net assets classified as Level 3 for the six months ended June 30 is as follows:
| Gas Contracts
2024 |
Balance at beginning of period | $ | (19) |
Purchases | 2 |
Settlements | 19 |
Balance at end of period | $ | 2 |
Fair Value, by Balance Sheet Grouping | The carrying amounts of long-term debt on the Balance Sheets and their estimated fair values are set forth below.
| June 30, 2024 |  | December 31, 2023
| Carrying Amount (a) |  | Fair Value |  | Carrying Amount (a) |  | Fair Value
PPL | $ | 15,757 |  |  | $ | 14,794 |  |  | $ | 14,612 |  |  | $ | 14,031 |
PPL Electric | 5,212 |  |  | 4,929 |  |  | 4,567 |  |  | 4,475 |
LG&E | 2,470 |  |  | 2,301 |  |  | 2,469 |  |  | 2,369 |
KU | 3,065 |  |  | 2,765 |  |  | 3,064 |  |  | 2,861 |
(a)Amounts are net of debt issuance costs.

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- Definition Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 11 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482907/825-10-50-11 + Details
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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
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