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Revenue from Contracts with Customers
 6 Months Ended
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
PPLPPL ElectricLG&EKU
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
PPLPPL ElectricLG&EKU
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
PPLPPL ElectricLG&EKU
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
PPLPPL ElectricLG&EKU
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
ResidentialCommercialIndustrialOther (a)Wholesale - municipalityWholesale - other (b)TransmissionRevenues from Contracts with Customers
PPL
2024
PA Regulated$332 $101 $10 $15 $— $— $204 $662 
KY Regulated326 245 157 75 5 13 — 821 
RI Regulated139 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 Regulated298 237 160 66 4 9 — 774 
RI Regulated141 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
ResidentialCommercialIndustrialOther (a)Wholesale - municipalityWholesale - other (b)TransmissionRevenues from Contracts with Customers
PPL
2024
PA Regulated$758 $207 $22 $28 $— $— $409 $1,424 
KY Regulated769 512 318 172 11 28 — 1,810 
RI Regulated400 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 Regulated741 511 324 126 11 20 — 1,733 
RI Regulated370 150 13 364 — — 81 978 
Total PPL$2,079 $914 $371 $516 $11 $20 $358 $4,269 
Six Months
ResidentialCommercialIndustrialOther (a)Wholesale - municipalityWholesale - other (b)TransmissionRevenues 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 MonthsSix Months
2024202320242023
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.
PPLPPL ElectricLG&EKU
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.