XML 75 R40.htm IDEA: XBRL DOCUMENT v3.25.0.1
Revenue from Contracts with Customers (Tables)
12 Months Ended
Dec. 31, 2024
Revenue from contracts with customers [Line Items]  
Reconciliation of revenue from contracts with customers [Table Text Block]
The following table reconciles "Operating Revenues" included in each Registrant's Statement of Income with revenues generated from contracts with customers for the years ended December 31:
2024
PPLPPL ElectricLG&EKU
Operating Revenues (a)(b)$8,462 $2,876 $1,648 $1,964 
Revenues derived from:
Alternative revenue programs (c)(19)13 16 
Other (d)(23)(15)(4)(4)
Revenues from Contracts with Customers$8,444 $2,842 $1,657 $1,976 
2023
PPLPPL ElectricLG&EKU
Operating Revenues (a)(b)$8,312 $3,008 $1,613 $1,884 
Revenues derived from:
Alternative revenue programs (c)(1)(5)
Other (d)(23)(15)(4)(4)
Revenues from Contracts with Customers$8,290 $2,998 $1,608 $1,875 
2022
PPLPPL ElectricLG&EKU
Operating Revenues (a)(b)$7,902 $3,030 $1,798 $2,074 
Revenues derived from:
Alternative revenue programs (c)(92)(56)
Other (d)(24)(14)(6)(4)
Revenues from Contracts with Customers$7,786 $2,960 $1,801 $2,075 

(a)PPL includes $2,024 million, $1,851 million and $1,038 million for the twelve months ended December 31, 2024, 2023, and 2022 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)PPL's transition services agreement associated with the RIE acquisition ended in the third quarter of 2024. In conjunction with the completion of the agreement, PPL conformed the presentation of RIE's and the Rhode Island Regulated segment’s net metering charges with the presentation of the other segments, resulting in an increase in Operating Revenues and a corresponding increase in Energy purchases beginning on January 1, 2024. For the year ended December 31, 2024, net metering of $175 million was included in Energy purchases on PPL's Statement of Income. For the years ended December 31, 2023 and 2022, $146 million and $79 million of net metering was presented as a reduction of Operating Revenues on PPL's Statement of Income.
(c)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 as negative amounts.
(d)Represents additional revenues outside the scope of revenues from contracts with customers such as leases and other miscellaneous revenues.
Disaggregation of Revenue [Table Text Block]
The following table shows revenues from contracts with customers disaggregated by customer class for the years ended December 31:
ResidentialCommercialIndustrialOther (a)Wholesale - municipalityWholesale - other (b)TransmissionRevenues from Contracts with Customers
PPL
2024
PA Regulated$1,502 $418 $47 $57 $— $— $818 $2,842 
RI Regulated (c)1,150 593 91 10 — — 176 2,020 
KY Regulated1,510 1,028 635 323 23 63 — 3,582 
Total PPL$4,162 $2,039 $773 $390 $23 $63 $994 $8,444 
ResidentialCommercialIndustrialOther (a)Wholesale - municipalityWholesale - other (b)TransmissionRevenues from Contracts with Customers
2023
PA Regulated$1,649 $444 $55 $54 $— $— $796 $2,998 
RI Regulated640 228 20 793 — — 170 1,851 
KY Regulated1,458 1,001 637 272 22 50 — 3,440 
Corp and Other— — — — — — 
Total PPL$3,747 $1,673 $712 $1,120 $22 $50 $966 $8,290 
2022
PA Regulated$1,647 $491 $85 $54 $— $— $683 $2,960 
RI Regulated299 101 478 — — 101 988 
KY Regulated1,637 1,068 662 323 28 97 — 3,815 
Corp and Other— — — 23 — — — 23 
Total PPL$3,583 $1,660 $756 $878 $28 $97 $784 $7,786 
PPL Electric
2024$1,502 $418 $47 $57 $— $— $818 $2,842 
2023$1,649 $444 $55 $54 $— $— $796 $2,998 
2022$1,647 $491 $85 $54 $— $— $683 $2,960 
LG&E
2024$754 $518 $188 $147 $— $50 $— $1,657 
2023$751 $517 $189 $104 $— $47 $— $1,608 
2022$835 $551 $199 $141 $— $75 $— $1,801 
KU
2024$756 $510 $447 $176 $23 $64 $— $1,976 
2023$707 $484 $448 $168 $22 $46 $— $1,875 
2022$802 $517 $463 $182 $28 $83 $— $2,075 

(a)Primarily includes revenues from pole attachments, street lighting, other public authorities and other non-core businesses. For the years ended December 31, 2023 and 2022, 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 PPL.
(c)PPL's transition services agreement associated with the RIE acquisition ended in the third quarter of 2024. In conjunction with the completion of the agreement, PPL disaggregated the 2024 revenues of the Rhode Island Regulated segment in a manner consistent with that of its other segments. This resulted in certain customer revenues for the Rhode Island Regulated segment, which were previously presented in the "Other" category, being presented in the "Residential", "Commercial" or "Industrial" customer classes beginning on January 1, 2024. Applying the previous methodology to 2024 revenues would result in $469 million of Residential, $372 million of Commercial and $88 million of Industrial for the Rhode Island Regulated segment being presented as "Other" for the year ended December 31, 2024.
Credit loss recognized from contract with customer [Table Text Block]
The following table shows the accounts receivable and unbilled revenues balances that were impaired for the year ended December 31:
202420232022
PPL(a)$103 $79 $70 
PPL Electric52 47 21 
LG&E
KU
Contract with Customer, Asset and Liability [Table Text Block]
The following table shows the balances and certain activity of contract liabilities resulting from contracts with customers:
PPLPPL ElectricLG&EKU
Contract liabilities as of December 31, 2024$39 $28 $$
Contract liabilities as of December 31, 202343 29 
Revenue recognized during the year ended December 31, 2024 that was included in the contract liability balance at December 31, 202326 12 
Contract liabilities as of December 31, 2023$43 $29 $$
Contract liabilities as of December 31, 202234 23 
Revenue recognized during the year ended December 31, 2023 that was included in the contract liability balance at December 31, 202221 10 
Contract liabilities as of December 31, 2022$34 $23 $$
Contract liabilities as of December 31, 202142 25 
Revenue recognized during the year ended December 31, 2022 that was included in the contract liability balance at December 31, 202125 12