XML 88 R53.htm IDEA: XBRL DOCUMENT
v3.25.0.1

Derivative Instruments and Hedging Activities (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2024
Derivative Instruments And Hedging Activities [Line Items] |
Fair Value and Balance Sheet Location of Derivative Instruments | The following table presents the fair value and location of derivative instruments recorded on the Balance Sheets:
| December 31, 2024 |  | December 31, 2023
| Derivatives designated as hedging instruments |  | Derivatives not designated as hedging instruments |  | Derivatives designated as hedging instruments |  | Derivatives not designated as hedging instruments
| Assets |  | Liabilities |  | Assets |  | Liabilities |  | Assets |  | Liabilities |  | Assets |  | Liabilities
Current: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Price Risk Management |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Assets/Liabilities (a): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate swaps (b) | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 1 |
Gas contracts | — |  |  | — |  |  | 7 |  |  | 10 |  |  | — |  |  | — |  |  | 1 |  |  | 51 |
Total current | — |  |  | — |  |  | 7 |  |  | 10 |  |  | — |  |  | — |  |  | 1 |  |  | 52 |
Noncurrent: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Price Risk Management |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Assets/Liabilities (a): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate swaps (b) | — |  |  | — |  |  | — |  |  | 3 |  |  | — |  |  | — |  |  | — |  |  | 6 |
Gas contracts | — |  |  | — |  |  | 2 |  |  | 3 |  |  | — |  |  | — |  |  | — |  |  | 9 |
Total noncurrent | — |  |  | — |  |  | 2 |  |  | 6 |  |  | — |  |  | — |  |  | — |  |  | 15 |
Total derivatives | $ | — |  |  | $ | — |  |  | $ | 9 |  |  | $ | 16 |  |  | $ | — |  |  | $ | — |  |  | $ | 1 |  |  | $ | 67 |
(a)Current portion is included in "Other current assets" and "Other current liabilities" and noncurrent portion is included in "Other noncurrent assets" and "Other deferred credits and noncurrent liabilities" on the Balance Sheets. (b)Excludes accrued interest, if applicable.
Pre-tax Gain (Loss) on Derivative Instruments Recognized in Income or on the Balance Sheet | The following tables present the pre-tax effect of derivative instruments recognized in income, OCI or regulatory assets and regulatory liabilities:
Derivative Relationships |  | Derivative Gain (Loss) Recognized in OCI |  | Location of Gain (Loss) Recognized in Income on Derivative |  | Gain (Loss) Reclassified from AOCI into Income
2024 |  |  |  |  |  |
Cash Flow Hedges: |  |  |  |  |  |
Interest rate swaps |  | $ | — |  |  | Interest Expense |  | $ | (3) |
Total |  | $ | — |  |  |  |  | $ | (3) |
2023 |  |  |  |  |  |
Cash Flow Hedges: |  |  |  |  |  |
Interest rate swaps |  | $ | — |  |  | Interest Expense |  | $ | (3) |
Total |  | $ | — |  |  |  |  | $ | (3) |
2022 |  |  |  |  |  |
Cash Flow Hedges: |  |  |  |  |  |
Interest rate swaps |  | $ | — |  |  | Interest Expense |  | $ | (3) |
Total |  | $ | — |  |  |  |  | $ | (3) |
Derivatives Not Designated as Hedging Instruments |  | Location of Gain (Loss) Recognized in Income on Derivative |  | 2024 |  | 2023 |  | 2022
Interest rate swaps |  | Interest Expense |  | — |  |  | — |  |  | (2) |
Gas contracts |  | Energy Purchases |  | (40) |  |  | (19) |  |  | 41 |
|  | Other income (expense) - net |  | — |  |  | $ | (1) |  |  | $ | — |
|  | Total |  | $ | (40) |  |  | $ | (20) |  |  | $ | 39 |
Derivatives Not Designated as Hedging Instruments |  | Location of Gain (Loss) Recognized as Regulatory Liabilities/Assets |  | 2024 |  | 2023 |  | 2022
Gas contracts |  | Regulatory assets - current |  | $ | 48 |  |  | $ | 9 |  |  | $ | 39 |
|  | Regulatory assets - noncurrent |  | 7 |  |  | (8) |  |  | — |
Interest rate swaps |  | Regulatory assets - noncurrent |  | 4 |  |  | — |  |  | 11 |
|  | Total |  | $ | 59 |  |  | $ | 1 |  |  | $ | 50 |
The following table presents the effect of cash flow hedge activity on the Statement of Income for the year ended December 31, 2024:
| Location and Amount of Gain (Loss) Recognized in Income on Hedging Relationships
| Interest Expense |  |
Total income and expense line items presented in the income statement in which the effect of cash flow hedges are recorded | $ | 738 |  |  |
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 | (3) |  |  |
The following table presents the effect of cash flow hedge activity on the Statement of Income for the year ended December 31, 2023:
| Location and Amount of Gain (Loss) Recognized in Income on Hedging Relationships
| Interest Expense |  |
Total income and expense line items presented in the income statement in which the effect of cash flow hedges are recorded | $ | 666 |  |  |
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 | (3) |  |  |
The following table presents the effect of cash flow hedge activity on the Statement of Income for the year ended December 31, 2022:
| Location and Amount of Gain (Loss) Recognized in Income on Hedging Relationships
| Interest Expense
Total income and expense line items presented in the income statement in which the effect of cash flow hedges are recorded | $ | 513 |
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 | (3) |
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
December 31, 2024 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
PPL |  | $ | 9 |  |  | $ | 5 |  |  | $ | — |  |  | $ | 4 |  |  | $ | 16 |  |  | $ | 5 |  |  | $ | — |  |  | $ | 11 |
LG&E |  | — |  |  | — |  |  | — |  |  | — |  |  | 3 |  |  | — |  |  | — |  |  | 3 |
December 31, 2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
PPL |  | $ | 1 |  |  | $ | — |  |  | $ | — |  |  | $ | 1 |  |  | $ | 67 |  |  | $ | — |  |  | $ | — |  |  | $ | 67 |
LG&E |  | — |  |  | — |  |  | — |  |  | — |  |  | 7 |  |  | — |  |  | — |  |  | 7 |
Louisville Gas And Electric Co [Member] |
Derivative Instruments And Hedging Activities [Line Items] |
Fair Value and Balance Sheet Location of Derivative Instruments | The following table presents the fair value and the location on the Balance Sheets of derivatives not designated as hedging instruments:
|  | December 31, 2024 |  | December 31, 2023
|  | Assets |  | Liabilities |  | Assets |  | Liabilities
Current: |  |  |  |  |  |  |  |
Price Risk Management |  |  |  |  |  |  |  |
Assets/Liabilities: |  |  |  |  |  |  |  |
Interest rate swaps |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 1 |
Total current |  | — |  |  | — |  |  | — |  |  | 1 |
Noncurrent: |  |  |  |  |  |  |  |
Price Risk Management |  |  |  |  |  |  |  |
Assets/Liabilities: |  |  |  |  |  |  |  |
Interest rate swaps |  | — |  |  | 3 |  |  | — |  |  | 6 |
Total noncurrent |  | — |  |  | 3 |  |  | — |  |  | 6 |
Total derivatives |  | $ | — |  |  | $ | 3 |  |  | $ | — |  |  | $ | 7 |
Pre-tax Gain (Loss) on Derivative Instruments Recognized in Income or on the Balance Sheet | The following tables present the pre-tax effect of derivatives not designated as cash flow hedges that are recognized in income or regulatory assets:
Derivative Instruments |  | Location of Gain (Loss) |  | 2024 |  | 2023 |  | 2022
Interest rate swaps |  | Interest Expense |  | $ | — |  |  | $ | — |  |  | $ | (2) |
Derivative Instruments |  | Location of Gain (Loss) |  | 2024 |  | 2023 |  | 2022
Interest rate swaps |  | Regulatory assets - noncurrent |  | $ | 4 |  |  | $ | — |  |  | $ | 11 |
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
December 31, 2024 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
PPL |  | $ | 9 |  |  | $ | 5 |  |  | $ | — |  |  | $ | 4 |  |  | $ | 16 |  |  | $ | 5 |  |  | $ | — |  |  | $ | 11 |
LG&E |  | — |  |  | — |  |  | — |  |  | — |  |  | 3 |  |  | — |  |  | — |  |  | 3 |
December 31, 2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
PPL |  | $ | 1 |  |  | $ | — |  |  | $ | — |  |  | $ | 1 |  |  | $ | 67 |  |  | $ | — |  |  | $ | — |  |  | $ | 67 |
LG&E |  | — |  |  | — |  |  | — |  |  | — |  |  | 7 |  |  | — |  |  | — |  |  | 7 |

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-types1: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 -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4E -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4E Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4C Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4A + 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 -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4B + Details
Name: | us-gaap_ScheduleOfDerivativeInstrumentsInStatementOfFinancialPositionFairValueTextBlock
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: |