PPL (PPL) 10-K 26 Feb 10 2009 FY Annual report Financial data

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME (USD $)
In Millions, except Share data in Thousands	12 Months Ended Dec. 31, 2009	12 Months Ended Dec. 31, 2008	12 Months Ended Dec. 31, 2007
Operating Revenues
Utility	$3,902	$4,114	$4,114
Unregulated retail electric and gas	152	151	102
Wholesale energy marketing
Realized	3,291	2,288	1,581
Unrealized economic activity (Note 18)	(229)	1,056	(145)
Net energy trading margins	17	(121)	41
Energy-related businesses	423	519	769
Total Operating Revenues	7,556	8,007	6,462
Operation
Fuel	931	1,084	890
Energy purchases
Realized	2,636	1,634	918
Unrealized economic activity (Note 18)	155	553	(182)
Other operation and maintenance	1,424	1,423	1,365
Amortization of recoverable transition costs	304	293	310
Depreciation (Note 1)	469	458	442
Taxes, other than income (Note 5)	280	288	298
Energy-related businesses (Note 8)	396	481	762
Total Operating Expenses	6,595	6,214	4,803
Operating Income	961	1,793	1,659
Other Income - net (Note 16)	49	55	97
Other-Than-Temporary Impairments	18	36	3
Interest Expense	396	455	472
Income from Continuing Operations Before Income Taxes	596	1,357	1,281
Income Taxes (Note 5)	130	430	259
Income from Continuing Operations After Income Taxes	466	927	1,022
Income (Loss) from Discontinued Operations (net of income taxes) (Note 9)	(40)	23	293
Net Income	426	950	1,315
Net Income Attributable to Noncontrolling Interests	19	20	27
Net Income Attributable to PPL Corporation	407	930	1,288
Amounts Attributable to PPL Corporation:
Income from Continuing Operations After Income Taxes	447	907	1,001
Income (Loss) from Discontinued Operations (net of income taxes)	(40)	23	287
Net Income	$407	$930	$1,288
Income from Continuing Operations After Income Taxes Available to PPL Corporation Common Shareowners:
Basic	1.18	2.42	2.62
Diluted	1.18	2.41	2.6
Net Income Available to PPL Corporation Common Shareowners:
Basic	1.08	2.48	3.37
Diluted	1.08	2.47	3.34
Dividends Declared Per Share of Common Stock	1.38	1.34	1.22
Weighted-Average Shares of Common Stock Outstanding (in thousands)
Basic	376,082	373,626	380,563
Diluted	376,406	374,901	383,492

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Millions	12 Months Ended Dec. 31, 2009	12 Months Ended Dec. 31, 2008	12 Months Ended Dec. 31, 2007
Cash Flows from Operating Activities
Net income	$426	$950	$1,315
Adjustments to reconcile net income to net cash provided by operating activities
Pre-tax gain from the sale of the Latin American businesses	0	0	(400)
Pre-tax gain from the sale of the majority of Maine hydroelectric generation business	(38)	0	0
Depreciation	471	461	458
Amortization of recoverable transition costs and other	389	383	433
Defined benefits	(115)	(100)	(39)
Impairment of assets	127	105	124
Gain on the sale of emission allowances	(2)	(6)	(109)
Deferred income taxes and investment tax credits	104	43	42
Unrealized (gains) losses on derivatives, and other hedging activities	329	(279)	(22)
Other	23	71	38
Change in current assets and current liabilities
Accounts receivable	76	118	(186)
Accounts payable	(150)	85	119
Unbilled revenues	2	(85)	(99)
Fuel, materials and supplies	(21)	(35)	25
Counterparty collateral	334	1	12
Price risk management assets and liabilities	(231)	(77)	(45)
Other	96	(16)	(4)
Other operating activities
Other assets	12	21	(12)
Other liabilities	20	(51)	(79)
Net cash provided by operating activities	1,852	1,589	1,571
Cash Flows from Investing Activities
Expenditures for property, plant and equipment	(1,225)	(1,418)	(1,657)
Proceeds from the sale of the majority of Maine hydroelectric generation business	81	0	0
Proceeds from the sale of the gas and propane businesses	0	303	0
Proceeds from the sale of the Latin American businesses	0	0	851
Proceeds from the sale of the telecommunication operations	0	0	47
Expenditures for intangible assets	(88)	(332)	(65)
Proceeds from the sale of intangible assets	16	19	111
Purchases of nuclear plant decommissioning trust investments	(227)	(224)	(190)
Proceeds from the sale of nuclear plant decommissioning trust investments	201	197	175
Purchases of other investments	0	(290)	(601)
Proceeds from the sale of other investments	154	195	860
Net (increase) decrease in restricted cash and cash equivalents	218	(71)	(125)
Other investing activities	(10)	(6)	(20)
Net cash used in investing activities	(880)	(1,627)	(614)
Cash Flows from Financing Activities
Issuance of long-term debt	298	1,338	985
Retirement of long-term debt	(1,016)	(671)	(1,216)
Repurchase of common stock	0	(38)	(712)
Issuance of common stock	60	19	32
Payment of common stock dividends	(517)	(491)	(459)
Net increase (decrease) in short-term debt	(52)	588	61
Other financing activities	(44)	(24)	(17)
Net cash provided by (used in) financing activities	(1,271)	721	(1,326)
Effect of Exchange Rates on Cash and Cash Equivalents	0	(13)	5
Net Increase (Decrease) in Cash and Cash Equivalents	(299)	670	(364)
Cash and Cash Equivalents at Beginning of Period	1,100	430	794
Cash and Cash Equivalents at End of Period	801	1,100	430
Supplemental Disclosures of Cash Flow Information:
Interest - net of amount capitalized	460	423	389
Income taxes - net	$16	$300	$376

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS (USD $)
In Millions	Dec. 31, 2009		Dec. 31, 2008
Current Assets
Cash and cash equivalents	$801		$1,100
Short-term investments	0		150
Restricted cash and cash equivalents	105		320
Accounts receivable (less reserve: 2009, $37; 2008, $36)
Customer	409		456
Other	59		77
Unbilled revenues	600		599
Fuel, materials and supplies (Note 1)	357		337
Prepayments	102		84
Price risk management assets (Notes 17 and 18)	2,157		1,224
Other intangibles (Note 19)	25		17
Assets held for sale (Note 9)	127		0
Other current assets	10		19
Total Current Assets	4,752		4,383
Investments
Nuclear plant decommissioning trust funds (Notes 17 and 21)	548		446
Other investments	65		76
Total Investments	613		522
Electric plant
Transmission and distribution	8,686		8,046
Generation	10,493		9,588
General	899		840
Electric plant in service	20,078		18,474
Construction work in progress	567		1,131
Nuclear fuel	506		428
Electric plant	21,151		20,033
Gas and oil plant	68		68
Other property	166		156
Property, plant and equipment, gross	21,385		20,257
Less: accumulated depreciation	8,211		7,882
Property, Plant and Equipment, net	13,174		12,375
Regulatory and Other Noncurrent Assets
Regulatory assets (Note 1)	531		763
Goodwill (Note 19)	806		763
Other intangibles (Note 19)	615		637
Price risk management assets (Notes 17 and 18)	1,274		1,392
Other noncurrent assets	400		570
Total Regulatory and Other Noncurrent Assets	3,626		4,125
Total Assets	22,165		21,405
Current Liabilities
Short-term debt (Note 7)	639		679
Long-term debt	0		696
Accounts payable	619		766
Taxes	92		77
Interest	113		130
Dividends	135		131
Price risk management liabilities (Notes 17 and 18)	1,502		1,324
Counterparty collateral	356		22
Other current liabilities	726		499
Total Current Liabilities	4,182		4,324
Long-term Debt (Note 7)	7,143		7,142
Deferred Credits and Other Noncurrent Liabilities
Deferred income taxes and investment tax credits (Note 5)	2,153		1,761
Price risk management liabilities (Notes 17 and 18)	582		836
Accrued pension obligations (Note 12)	1,283		899
Asset retirement obligations (Note 20)	416		370
Other deferred credits and noncurrent liabiliites	591		677
Total Deferred Credits and Other Noncurrent Liabilities	5,025		4,543
PPL Corporation Shareowners' Common Equity
Common stock - $0.01 par value (a)	4	[1]	4	[1]
Capital in excess of par value	2,280		2,196
Earnings reinvested	3,749		3,862
Accumulated other comprehensive loss (Note 1)	(537)		(985)
Total PPL Corporation Shareowners' Common Equity	5,496		5,077
Noncontrolling Interests (Notes 3 and 6)	319		319
Total Equity	5,815		5,396
Total Liabilities and Equity	$22,165		$21,405
[1](a) 780,000 shares authorized; 377,183 shares issued and outstanding at December 31, 2009, and 374,581 shares issued and outstanding at December 31, 2008.

CONSOLIDATED BALANCE SHEETS PAR

CONSOLIDATED BALANCE SHEETS PARENTHETICAL INFORMATION (USD $)
In Millions, except Share data in Thousands	Dec. 31, 2009	Dec. 31, 2008
Parenthetical Information Balance Sheet
Accounts receivable reserve for uncollectible accounts	$37	$36
Common stock par value	0.01	0.01
Common stock shares authorized	780,000	780,000
Common stock shares issued	377,183	374,581
Common stock shares outstanding	377,183	374,581

CONSOLIDATED STATEMENTS OF EQUI

CONSOLIDATED STATEMENTS OF EQUITY (USD $)
In Millions, except Share data in Thousands	12 Months Ended Dec. 31, 2009		12 Months Ended Dec. 31, 2008		12 Months Ended Dec. 31, 2007
Balance at beginning of period - shares (a)	374,581
Balance at beginning of period	$5,396		$5,876		$5,483
Common stock issued (c)	83	[3]	29	[3]	48	[3]
Common stock repurchased (d)	(1)		(38)	[4]	(712)	[4]
Stock-based compensation	2		20		26
Net income	426		950		1,315
Dividends, dividend equivalents and distributions (e)	(540)	[5]	(523)	[5]	(491)	[5]
Divestitures			(1)		(35)
Acquisitions					(8)
Other comprehensive income	449		(917)		250
Balance at end of period - shares (a)	377,183		374,581
Balance at end of period	5,815		5,396		5,876
Common stock
Balance at beginning of period - shares (a)	374,581		373,271		385,039
Balance at beginning of period	4		4		4
Common stock issued (c)	0		0		0
Common stock shares issued (a)	2,649	[1]	2,158	[1]	3,177	[1]
Common stock shares repurchased (a)	(47)	[1]	(848)	[1]	(14,945)	[1]
Balance at end of period - shares (a)	377,183		374,581		373,271
Balance at end of period	4		4		4
Capital in excess of par value
Balance at beginning of period	2,196		2,185		2,823	[2]
Common stock issued (c)	83	[3]	29	[3]	48	[3]
Common stock repurchased (d)	(1)		(38)	[4]	(712)	[4]
Stock-based compensation	2		20		26
Balance at end of period	2,280		2,196		2,185
Earnings reinvested
Balance at beginning of period	3,862		3,435		2,613	[2]
Net income	407		930		1,288
Dividends, dividend equivalents and distributions (e)	(521)	[5]	(503)	[5]	(466)	[5]
Cumulative effect adjustment (g)	1	[7]
Balance at end of period	3,749		3,862		3,435
Accumulated other comprehensive loss
Balance at beginning of period	(985)	[6]	(68)		(318)
Other comprehensive income	449		(917)		250
Cumulative effect adjustment (g)	(1)	[7]
Balance at end of period	(537)	[6]	(985)	[6]	(68)
Non-controlling interests
Balance at beginning of period	319		320		361
Net income	19		20		27
Dividends, dividend equivalents and distributions (e)	(19)	[5]	(20)	[5]	(25)	[5]
Divestitures			(1)		(35)
Acquisitions					(8)
Balance at end of period	$319		$319		$320
[1](a) Shares in thousands. Each share entitles the holder to one vote on any question presented to any shareowners' meeting.
[2](b) "Capital in excess of par value" and "Earnings reinvested" have been adjusted by $13 million to reflect the adoption of new accounting guidance. See "New Accounting Guidance Adopted - Accounting for Convertible Debt Instruments That May Be Settled in Cash upon Conversion (Including Partial Cash Settlement)" in Note 1 for additional information.
[3](c) 2009 includes common stock shares issued through the ICP, ICPKE, DRIP, ESOP and DDCP. 2008 and 2007 include common stock shares issued through the ICP, ICPKE, DDCP and the 2-5/8% Convertible Senior Notes, net of forfeitures. "Capital in excess of par value" for 2009 includes $7 million for a company contribution to the ESOP.
[4](d) In 2007, PPL's Board of Directors authorized the repurchase by PPL of up to $750 million of its common stock. During 2007, PPL repurchased 14,929,892 shares of PPL common stock for $712 million. During 2008, PPL repurchased 802,816 shares of PPL common stock for $38 million.
[5](e) "Earnings reinvested" includes dividends and dividend equivalents on PPL Corporation common stock and restricted stock units. "Noncontrolling interests" includes dividends and distributions to noncontrolling interests.
[6](f) See "General - Comprehensive Income" in Note 1 for disclosure of balances of each component of AOCI.
[7](g) See "New Accounting Guidance Adopted - Recognition and Presentation of Other-Than-Temporary Impairments" in Note 1 regarding this cumulative effect adjustment.

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (USD $)
In Millions	12 Months Ended Dec. 31, 2009	12 Months Ended Dec. 31, 2008	12 Months Ended Dec. 31, 2007
Consolidated Statements of Comprehensive Income
Net income	$426	$950	$1,315
Amounts arising during the period - gains (losses), net of tax (expense) benefit:
Foreign currency translation adjustments, net of tax of $4, $(11), $7	101	(500)	29
Available-for-sale securities, net of tax of $(44), $55, $(8)	41	(50)	11
Qualifying derivatives, net of tax of $(356), $(120), $131	492	240	(190)
Equity investee's other comprehensive income (loss)	1	(3)	0
Defined benefit plans:
Prior service costs, net of tax of $(1), 0	1	0	2
Net actuarial gain (loss), net of tax of $147, $294, $(104)	(340)	(577)	233
Reclassifications to net income - (gains) losses, net of tax expense (benefit):
Foreign currency translation adjustments, net of tax of $(8)	0	0	64
Available-for-sale securities, net of tax of $(3), $(2), $2	4	2	(3)
Qualifying derivatives, net of tax of $(92), $17, $(26)	131	(69)	49
Defined benefit plans:
Prior service costs, net of tax of $(8), $(9), $6	13	18	14
Net actuarial loss, net of tax of $(4), $(11), $(19)	4	20	40
Transition obligation, net of tax of $(1), $(1), $(1)	1	2	1
Total other comprehensive income (loss) attributable to PPL Corporation	449	(917)	250
Comprehensive income	875	33	1,565
Comprehensive income attributable to noncontrolling interests	19	20	27
Comprehensive income attributable to PPL Corporation	$856	$13	$1,538

1_CONSOLIDATED STATEMENTS OF CO

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME PARENTHETICAL INFORMATION (USD $)
In Millions	12 Months Ended Dec. 31, 2009	12 Months Ended Dec. 31, 2008	12 Months Ended Dec. 31, 2007
Statement of Comprehensive Income (Parenthetical)
Tax effect of foreign currency translation adjustments arising during the period	$4	($11)	$7
Tax effect of available-for-sale securities arising during the period	(44)	55	(8)
Tax effect of qualifying derivatives arising during the period	(356)	(120)	131
Tax effect of prior service costs arising during period	(1)	0	0
Tax effect of net actuarial gain (loss) arising during period	147	294	(104)
Tax effect of foreign currency translation adjustments reclassified to net income	0	0	(8)
Tax effect of available-for-sale securities reclassified to net income	(3)	(2)	2
Tax effect of qualifying derivatives reclassified to net income	(92)	17	(26)
Tax effect of prior service costs reclassified to net income	(8)	(9)	6
Tax effect of net actuarial loss reclassified to net income	(4)	(11)	(19)
Tax effect of transition obligation reclassified to net income	($1)	($1)	($1)

1. Summary of Significant Accou

1. Summary of Significant Accounting Policies
	12 Months Ended Dec. 31, 2009 USD / shares
Notes to Financial Statements [Abstract]
Summary of Significant Accounting Policies	1. Summary of Significant Accounting Policies General Terms and abbreviations are explained in the glossary.Dollars are in millions, except per share data, unless otherwise noted. Business and Consolidation (PPL) PPL is an energy and utility holding company that, through its subsidiaries, is primarily engaged in the generation and marketing of electricity in the northeastern and western U.S. and in the delivery of electricity in Pennsylvania and the U.K.Headquartered in Allentown, PA, PPL's principal direct subsidiaries are PPL Energy Funding, PPL Electric, PPL Services and PPL Capital Funding. (PPL and PPL Energy Supply) PPL Energy Funding is the parent of PPL Energy Supply, which serves as the holding company for PPL's principal unregulated subsidiaries.PPL Energy Supply is the parent of PPL Generation, PPL EnergyPlus and PPL Global. PPL Generation owns and operates a portfolio of domestic power generating assets.These power plants are primarily located in Pennsylvania, Montana, Illinois, Connecticut and New York and use well-diversified fuel sources including coal, uranium, natural gas, oil and water.PPL EnergyPlus sells electricity produced by PPL Generation subsidiaries, participates in wholesale market load-following auctions, and markets various energy commodities such as:capacity, transmission, FTRs, coal, natural gas, oil, uranium, emission allowances, RECs and other commodities in competitive wholesale and deregulated retail markets, primarily in the northeastern and western U.S. In May 2009, PPL Generation signed a definitive agreement to sell its Long Island generation business and related tolling agreements.In the fourth quarter of 2009, PPL Maine completed the sales of the majority of its hydroelectric generation business and its 8.33% ownership interest in Wyman Unit 4. See Note 9 for additional information on both the anticipated and completed sales. PPL Global owns and operates WPD's electricity delivery businesses in the U.K.In 2007, PPL Global completed the sale of its Latin American businesses. It is the policy of PPL and PPL Energy Supply to consolidate foreign subsidiaries on a one-month lag.Material intervening events, such as debt issuances and retirements, acquisitions or divestitures that occur in the lag period are recognized in the current Financial Statements.Events that are significant but not material are disclosed. The consolidated financial statements of PPL and PPL Energy Supply include their share of undivided interests in jointly owned facilities, as well as their share of the related operating costs of those facilities.See Note 13 for additional information. (PPL and PPL Electric) PPL Electric is a rate-regulated subsidiary of PPL.PPL Electric's principal business is the transmission and distribution of electricity to serve retail customers in its franchised territory in eastern and central Pennsylvania and the supply of electricity to retail customers in that territory as a PLR. (PPL, PPL Energy Supply and PPL Electric) The consolidated financial statements of PPL, PPL Energy Supply and PPL Electric include each company's own accounts as well

2. Segment and Related Informat

2. Segment and Related Information
	12 Months Ended Dec. 31, 2009 USD / shares
Notes to Financial Statements [Abstract]
Segment and Related Information	2. Segment and Related Information (PPL and PPL Energy Supply) PPL's reportable segments are Supply, International Delivery and Pennsylvania Delivery.The Supply segment primarily consists of the domestic energy marketing and trading activities, as well as the generation and development operations of PPL Energy Supply.In 2009 and 2007, PPL Energy Supply sold or agreed to sell certain Supply segment businesses.See Notes 8 and 9 for additional information. The International Delivery segment consists primarily of the electricity distribution operations in the U.K.In 2007, PPL completed the sale of its Latin American businesses.In 2008, the International Delivery segment recognized income tax benefits and miscellaneous expenses in Discontinued Operations in connection with the dissolution of certain Latin American holding companies.In 2009, the International Delivery segment recognized $24 million of income tax expense in Discontinued Operations related to a correction of the calculation of tax bases of the Latin American businesses sold in 2007.See Note 9 for additional information. The Pennsylvania Delivery segment includes the regulated electric delivery operations of PPL Electric.This segment also included the gas delivery operations of PPL Gas Utilities prior to its sale in October 2008.See Note 9 for additional information. The operating results of the Long Island generation business, the majority of the Maine hydroelectric generation business, the Latin American businesses and the natural gas distribution and propane businesses have been classified as Discontinued Operations on the Statements of Income.Therefore, with the exception of net income attributable to PPL/PPL Energy Supply, the operating results from these businesses have been excluded from the income statement data tables below. PPL Energy Supply's reportable segments are Supply and International Delivery.The International Delivery segment at the PPL Energy Supply level is consistent with the International Delivery segment at the PPL level.The Supply segment information reported at the PPL Energy Supply level will not agree with the Supply segment information reported at the PPL level because additional Supply segment functions exist at PPL that are outside of PPL Energy Supply.Furthermore, certain income items, including PLR revenue and certain interest income, exist at the PPL Energy Supply level but are eliminated in consolidation at the PPL level.Finally, certain expense items are fully allocated to the segments at the PPL level only. Segments include direct charges, as well as an allocation of indirect corporate service costs, from PPL Services.These service costs include functions such as financial, legal, human resources and information services.See Note 15 for additional information. Financial data for the segments are: PPL PPL Energy Supply 2009 2008 2007 2009 2008 2007 Income Statement Data Revenues from external customers Supply (a) $ 3,618 $ 3,857 $ 2,

3. Variable Interest Entities

3. Variable Interest Entities
	12 Months Ended Dec. 31, 2009 USD / shares
Notes to Financial Statements [Abstract]
Variable Interest Entities	3. Variable Interest Entities (PPL and PPL Energy Supply) In December 2001, a subsidiary of PPL Energy Supply entered into a $455 million operating lease arrangement, as lessee, for the development, construction and operation of a gas-fired combined-cycle generation facility located in Lower Mt. Bethel Township, Northampton County, Pennsylvania.This generation facility has a total capacity (winter rating) of 624 MW at December31, 2009.The owner/lessor of this generation facility, LMB Funding, LP, was created to own/lease the facility and incur the related financing costs.The initial lease term commenced on the date of commercial operation, which occurred in May 2004, and ends in December 2013.Under a residual value guarantee, if the generation facility is sold at the end of the lease term and the cash proceeds from the sale are less than the original acquisition cost, the subsidiary of PPL Energy Supply is obligated to pay up to 70.52% of the original acquisition cost.This residual value guarantee protects the other variable interest holders from losses related to their investments.LMB Funding, LP cannot extend or cancel the lease or sell the facility without the prior consent of the PPL Energy Supply subsidiary.As a result, LMB Funding, LP was determined to be a variable interest entity and the subsidiary of PPL Energy Supply was considered the primary beneficiary that consolidates this variable interest entity. The lease financing, which includes $437 million of "Long-term Debt" and $18 million of "Noncontrolling Interests," at December31, 2009, is secured by, among other things, the generation facility.The debt matures at the end of the lease.At December31, 2009 and 2008, the facility, which was included in "Property, Plant and Equipment" and "Other intangibles" on the Balance Sheets, had a carrying value of $435 million and $441 million, net of accumulated depreciation and amortization of $48 million and $51 million.

4. Earnings Per Share

4. Earnings Per Share
	12 Months Ended Dec. 31, 2009 USD / shares
Notes to Financial Statements [Abstract]
Earnings Per Share	4. Earnings Per Share (PPL) The basic and diluted EPS computations and reconciliations of the amounts of income and shares (in thousands) of common stock used in the calculations are: 2009 2008 2007 Income (Numerator) Income from continuing operations after income taxes attributable to PPL $ 447 $ 907 $ 1,001 Less amounts allocated to participating securities 2 5 5 Income from continuing operations after income taxes available to PPL common shareowners $ 445 $ 902 $ 996 Income (loss) from discontinued operations (net of income taxes) attributable to PPL $ (40 ) $ 23 $ 287 Less amounts allocated to participating securities 1 Income (loss) from discontinued operations (net of income taxes) available to PPL common shareowners $ (40 ) $ 23 $ 286 Net income attributable to PPL $ 407 $ 930 $ 1,288 Less amounts allocated to participating securities 2 5 6 Net income available to PPL common shareowners $ 405 $ 925 $ 1,282 Shares of Common Stock (Denominator) Weighted-average shares - Basic EPS 376,082 373,626 380,563 Addincremental non-participating securities: Stock options and performance units 324 836 1,328 Convertible Senior Notes 439 1,601 Weighted-average shares - Diluted EPS 376,406 374,901 383,492 Basic EPS Available to PPL common shareowners: Income from continuing operations after income taxes $ 1.18 $ 2.42 $ 2.62 Income (loss) from discontinued operations (net of income taxes) (0.10 ) 0.06 0.75 Net Income $ 1.08 $ 2.48 $ 3.37 Diluted EPS Available to PPL common shareowners: Income from continuing operations after income taxes $ 1.18 $ 2.41 $ 2.60 Income (loss) from discontinued operations (net of income taxes) (0.10 ) 0.06 0.74 Net Income $ 1.08 $ 2.47 $ 3.34 While they were outstanding, PPL Energy Supply's 2-5/8% Convertible Senior Notes due 2023 (Convertible Senior Notes), which were issued in May 2003, could be converted into shares of PPL common stock under certain circumstances, including if during a fiscal quarter the market price of PPL's common stock exceeded $29.83 per share over a certain period during the preceding fiscal quarter or if PPL Energy Supply called the debt. During 2008, all then-outstanding Convertible Senior Notes we

5. Income and Other Taxes

5. Income and Other Taxes
	12 Months Ended Dec. 31, 2009 USD / shares
Notes to Financial Statements [Abstract]
Income and Other Taxes	5. Income and Other Taxes (PPL) "Income from Continuing Operations Before Income Taxes" included the following components: 2009 2008 2007 Domestic income $ 306 $ 1,027 $ 1,021 Foreign income 290 330 260 $ 596 $ 1,357 $ 1,281 Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for accounting purposes and their basis for income tax purposes and the tax effects of net operating loss and tax credit carryforwards. Net deferred tax assets have been recognized based on management's estimates of future taxable income for U.S. and certain foreign jurisdictions in which PPL's operations have historically been profitable. Significant components of PPL's deferred income tax assets and liabilities from continuing operations were as follows: 2009 2008 Deferred Tax Assets Deferred investment tax credits $ 16 $ 20 NUG contracts and buybacks 6 22 Regulatory liabilities 28 Accrued pension costs 265 241 State loss carryforwards 184 159 Federal tax credit carryforwards 23 23 Foreign capital loss carryforwards 144 126 Foreign - pensions 168 87 Foreign - other 6 9 Contributions in aid of construction 98 79 Domestic - other 189 192 Valuation allowances (312 ) (285 ) 815 673 Deferred Tax Liabilities Plant - net 1,855 1,467 Recoverable transition costs 116 Taxes recoverable through future rates 104 103 Unrealized gains on qualifying derivatives 437 72 Foreign investments 5 6 Reacquired debt costs 14 12 Foreign - plant 546 519 Foreign - other 35 67 Domestic - other 67 55 3,063 2,417 Net deferred tax liability $ 2,248 $ 1,744 PPL had federal foreign tax credit carryforwards that expire by 2019 of $23 million at December31, 2009 and 2008.PPL also had state net operating loss carryforwards that expire between 2010 and 2029 of $2.8 billion and $2.5 billion at December31, 2009 and 2008.Valuation allowances have been established for the amount that, more likely than not, will not be realized. PPL Global had no foreign net operating loss carryforwards at December31, 2009 and 2008.PPL Global had foreign capital loss carryforwards of $514 million and $451 million at December31, 2009 and 2008.All of these losses have an indefinite carryforward period.Valuation allowances have been established for the amount that, more likely than not, will not be realized.Of the total valuation allowances related to foreign capital loss carry

6. Preferred Securities

6. Preferred Securities
	12 Months Ended Dec. 31, 2009 USD / shares
Notes to Financial Statements [Abstract]
Preferred Securities	6. Preferred Securities (PPL) PPL is authorized to issue up to 10 million shares of preferred stock.No PPL preferred stock was issued or outstanding in 2009, 2008 or 2007. (PPL and PPL Electric) Details of PPL Electric's preferred securities (with no stated maturity date and no sinking fund requirements), which are reflected on PPL's Balance Sheets in "Noncontrolling Interests," as of December31, 2009 and 2008, were: Amount Issued and Outstanding Shares Shares Authorized Optional Redemption Price Per Share at 12/31/09 4-1/2% Preferred Stock (a) $ 25 247,524 629,936 $ 110.00 Series Preferred Stock(a) 3.35% 2 20,605 103.50 4.40% 12 117,676 102.00 4.60% 3 28,614 103.00 6.75% 9 90,770 101.35 Total Series Preferred Stock 26 257,665 10,000,000 6.25% Series Preference Stock (a) (b) 250 2,500,000 10,000,000 (c) Total Preferred Securities $ 301 3,005,189 (a) In 2009, 2008 and 2007, there were no changes in the number of shares of Preferred Stock or Preference Stock outstanding. (b) These shares were issued to a bank that acts as depositary in connection with the 2006 sale of 10 million depositary shares, each representing a quarter interest in a share of PPL Electric's 6.25% Series Preference Stock (Preference Shares). (c) Redeemable by PPL Electric on or after April 6, 2011, for $100 per share (equivalent to $25 per depositary share). Dividend requirements of $18 million were included in "Net Income Attributable to Noncontrolling Interests" on PPL's Statements of Income for 2009, 2008 and 2007. Preferred Stock The involuntary liquidation price of the preferred stock is $100 per share.The optional voluntary liquidation price is the optional redemption price per share in effect, except for the 4-1/2% Preferred Stock and the 6.75% Series Preferred Stock for which such price is $100 per share (plus, in each case, any unpaid dividends in arrears). Dividends on the preferred stock are cumulative.Preferred stock ranks senior to PPL Electric's common stock and its Preference Shares. Holders of the outstanding preferred stock are entitled to one vote per share on matters on which PPL Electric's shareowners are entitled to vote.However, if dividends on any preferred stock are in arrears in an amount equal to or greater than the annual dividend rate, the holders of the preferred stock are entitled to elect a majority of the Board of Directors of PPL Electric. Preference Stock Holders of the depositary shares, each of which represents a quarter interest in a share of Preference Shares, are entitled to all proportional rights and preferences of the Preference Shares, including dividend, voting, redemption and liquidation rights, exercised through the bank acting as a depos

7. Financing Activities

7. Financing Activities
	12 Months Ended Dec. 31, 2009 USD / shares
Notes to Financial Statements [Abstract]
Financing Activities	7. Financing Activities Credit Arrangements and Short-term Debt (PPL and PPL Energy Supply) PPL Energy Supply maintains credit facilities in order to enhance liquidity and provide credit support, and as a backstop to its commercial paper program, when necessary.PPL Energy Supply had the following credit facilities in place at: December31, 2009 December31, 2008 Expiration Date Capacity Borrowed (a) Letters of Credit Issued Unused Capacity Borrowed (a) Letters of Credit Issued PPL Energy Supply Domestic Credit Facilities (b) 364-day Bilateral Credit Facility (c) Mar-10 $ 200 n/a $ 4 $ 196 n/a $ 96 364-day Syndicated Credit Facility (d) Sept-10 400 400 5-year Structured Credit Facility (e) Mar-11 300 n/a 285 15 n/a 269 5-year Syndicated Credit Facility (f) June-12 3,225 $ 285 373 2,567 285 255 Total PPL Energy Supply Domestic Credit Facilities $ 4,125 $ 285 $ 662 $ 3,178 285 $ 620 WPD Credit Facilities WPDH Limited 5-year Syndicated Credit Facility(g) Jan-13 150 132 n/a 18 121 n/a WPD (South West) 3-year Syndicated Credit Facility(h) July-12 210 60 n/a 150 37 n/a WPD (South West) Uncommitted Credit Facilities(i) 65 21 n/a 44 8 n/a WPD (South West) Letter of Credit Facility Mar-10 4 n/a 3 1 n/a 4 Total WPD Credit Facilities (j) 429 213 3 213 166 4 (a) Amounts borrowed are recorded as "Short-term debt" on the Balance Sheets. (b) These credit facilities contain a financial covenant requiring debt to total capitalization to not exceed 65%. (c) In March 2009, PPL Energy Supply's 364-day bilateral credit facility was amended.The amendment included extending the expiration date from March 2009 to March 2010 and reducing the capacity from $300 million to $200 million.Under this facility, PPL Energy Supply can request the bank to issue letters of credit but cannot make cash borrowings. (d) In September 2009, PPL Energy Supply's 364-day syndicated credit facility was amended and restated.The amendment included extending the expiration date from September 2009 to September 2010, increasing the capacity from $385 million to $400 million and limiting the amount of letters of credit that may be issued.Under this facility, PPL Energy Supply has the ability to make

8. Acquisitions, Development an

8. Acquisitions, Development and Divestitures
	12 Months Ended Dec. 31, 2009 USD / shares
Notes to Financial Statements [Abstract]
Acquisitions, Development and Divestitures	8. Acquisitions, Development and Divestitures (PPL, PPL Energy Supply and PPL Electric) PPL and its subsidiaries continuously evaluate strategic options and, from time to time, PPL and its subsidiaries negotiate with third parties regarding acquisitions and dispositions of businesses and assets, joint ventures and development projects, which may or may not result in consummated transactions.Any such transactions may impact future financial results.See Note 9 for information on anticipated and completed sales of businesses that were presented as discontinued operations by PPL and PPL Energy Supply. Domestic License Renewals(PPL and PPL Energy Supply) PPL Susquehanna operates Units 1 and 2 pursuant to NRC operating licenses.In November 2009, the NRC approved PPL Susquehanna's application for 20-year license renewals for each of the Susquehanna units, extending the expiration date to 2042 for Unit 1 and to 2044 for Unit 2.At December31, 2009 and 2008, $17 million and $15 million of license renewal costs were capitalized and are included in noncurrent "Other intangibles" on the Balance Sheets. Development (PPL and PPL Energy Supply) In 2007, PPL requested FERC approval to expand the capacity of its Holtwood hydroelectric plant by 125 MW.In 2008, PPL withdrew the application due to then-prevailing economic conditions, including the high cost of capital and projected future energy prices.As a result, the Supply segment recorded an impairment of $22 million ($13 million after tax), which is included in "Other operation and maintenance" on the Statements of Income. In April 2009, PPL filed a new application with the FERC to expand capacity at its Holtwood hydroelectric plant by 125 MW, and in October 2009 the FERC granted the approval.PPL reconsidered this project in light of the availability of tax incentives and potential federal loan guarantees for renewable projects contained in the Economic Stimulus Package.In approving this application, the FERC extended the operating license for the Holtwood plant to August 2030.The expansion project has an expected capital cost of approximately $434 million.Site preparation began in the fourth quarter of 2009 and construction began in the first quarter of 2010, with commercial operations scheduled to begin in 2013.A PPL subsidiary has applied to the DOE for a federal loan guarantee for the project. In March 2009, PPL Montana received FERC approval for its request to redevelop the Rainbow hydroelectric facility, near Great Falls, Montana, for total plant capacity of approximately 60 MW (an increase of 28 MW).The expected redevelopment project cost is $230 million.Construction began in October 2009, with commercial operations scheduled to begin in 2012.A PPL subsidiary has applied to the DOE for a federal loan guarantee for the project. In 2008, PPL Susquehanna received NRC approval for its request to increase the generation capacity of the Susquehanna nuclear plant.The total expected capacity increase is 159MW, of which PPL Susquehanna's 90% ownership share is 143MW.The first uprate for Unit 1 was 50MW and was completed in 2008.The second uprate for Unit 1 is schedu

9. Discontinued Operations

9. Discontinued Operations
	12 Months Ended Dec. 31, 2009 USD / shares
Notes to Financial Statements [Abstract]
Discontinued Operations	9. Discontinued Operations (PPL and PPL Energy Supply) Anticipated Sale of Long Island Generation Business As a result of management's ongoing strategic review of PPL's non-core asset portfolio, in May 2009, PPL Generation signed a definitive agreement to sell its Long Island generation business, which is included in the Supply segment, for approximately $135 million in cash, adjusted for working capital at the sale date and subject to reduction monthly, effective September 1, 2009.The Long Island Power Authority has contracted with PPL Energy Supply subsidiaries to purchase all of this business' capacity and ancillary services as part of tolling agreements that expire in 2017 and 2018.Each agreement is considered to contain a lease for accounting purposes.These tolling agreements will be transferred to the purchaser upon completion of the sale. The Long Island generation business met the held for sale criteria in the second quarter of 2009.As a result, net assets held for sale with a carrying amount of $189 million were written down to their estimated fair value (less cost to sell) of $137 million at June30, 2009, resulting in a pre-tax impairment charge of $52 million ($34 million after tax).At both September30 and December 31, 2009, the estimated fair value (less cost to sell) was remeasured and additional impairments totaling $10 million ($3 million after tax) were recorded.In addition, $2 million ($1 million after tax) of goodwill allocated to this business was written off in 2009.The impairment charges recognized in the third and fourth quarters of 2009 had no significant impact on earnings, as such amounts were substantially offset by tolling revenues from the Long Island generation assets.These charges are included in "Income (Loss) from Discontinued Operations (net of income taxes)" on the 2009 Statement of Income.Closing of the sale is expected to occur on or about February 26, 2010. After adjusting for the delayed closing provisions, proceeds will approximate $125 million, excluding working capital. Following are the components of Discontinued Operations in the Statements of Income. 2009 2008 2007 Operating revenues $ 24 $ 26 $ 28 Operating expenses (a) 73 8 8 Operating income (loss) (49 ) 18 20 Interest expense (b) 4 3 2 Income (loss) before income taxes (53 ) 15 18 Income taxes (20 ) 5 8 Income (Loss) from DiscontinuedOperations $ (33 ) $ 10 $ 10 (a) 2009 includes impairments to the carrying value of the business. (b) Represents allocated interest expense based upon debt attributable to PPL's Long Island generation business. The major classes of assets reported as held for sale on the Balance Sheet at December31, 2009 were $41 million of PPE and an $86 million net investment in a direct-financing lease (corresponding amounts at December31, 2008, were $88 million of PPE and a $104 million net investm

10. Leases

10. Leases
	12 Months Ended Dec. 31, 2009 USD / shares
Notes to Financial Statements [Abstract]
Leases	10. Leases (PPL and PPL Energy Supply) Lessee Transactions Tolling Agreement In 2008, PPL EnergyPlus acquired the rights to an existing long-term tolling agreement for the capacity and energy of Ironwood.Under the agreement, PPL EnergyPlus has control over the plant's dispatch into the electricity grid and will supply the natural gas necessary to operate the plant.The tolling agreement extends through 2021 and is considered to contain an operating lease for accounting purposes.The fixed payments under the tolling agreement are subject to adjustment based upon changes to the facility capacity rating, which may occur up to twice per year.Certain costs within the tolling agreement, primarily non-lease costs, are subject to escalation. Colstrip Generating Plant In July 2000, PPL Montana sold its interest in the Colstrip generating plants to owner lessors who are leasing a 50% interest in Colstrip Units 1 and 2 and a 30% interest in Unit 3 back to PPL Montana under four 36-year non-cancelable leases.This transaction is accounted for as a sale-leaseback and classified as an operating lease.These leases provide two renewal options based on the economic useful life of the generation assets.PPL Montana currently amortizes material leasehold improvements over no more than the remaining life of the original leases.PPL Montana is required to pay all expenses associated with the operations of the generation units.The leases place certain restrictions on PPL Montana's ability to incur additional debt, sell assets and declare dividends and require PPL Montana to maintain certain financial ratios related to cash flow and net worth.There are no residual value guarantees in these leases.However, upon an event of default or an event of loss, PPL Montana could be required to pay a termination value of amounts sufficient to allow the lessor to repay amounts owing on the lessor notes and make the lessor whole for its equity investment and anticipated return on investment.The events of default include payment defaults, breaches of representations or covenants, acceleration of other indebtedness of PPL Montana, change in control of PPL Montana and certain bankruptcy events.The termination value was estimated to be $734 million at December31, 2009. Kerr Dam At December31, 2009, PPL Montana continued to participate in a lease arrangement with the Confederated Salish and Kootenai Tribes of the Flathead Reservation.Under a joint operating license, issued by the FERC to Montana Power in 1985, and subsequently to PPL Montana as a result of the purchase of Kerr Dam from Montana Power, PPL Montana is responsible to make payments to the tribes, for the use of their property.This agreement, subject to escalation based upon inflation, extends until the end of the license term in 2035.Between 2015 and 2025, the tribes have the option to purchase, hold and operate the project, which would result in the termination of this leasing arrangement. Other Leases PPL and its subsidiaries have entered into various agreements for the lease of office space, land and other equipment. Rent - Operating Leases Rent expense for PPL's and PPL Energ

11. Stock-Based Compensation

11. Stock-Based Compensation
	12 Months Ended Dec. 31, 2009 USD / shares
Notes to Financial Statements [Abstract]
Stock-Based Compensation	11. Stock-Based Compensation (PPL, PPL Energy Supply and PPL Electric) Under the PPL Incentive Compensation Plan (ICP) and the Incentive Compensation Plan for Key Employees (ICPKE) (together, the Plans), restricted shares of PPL common stock, restricted stock units, performance units and stock options may be granted to officers and other key employees of PPL, PPL Energy Supply, PPL Electric and other affiliated companies.Awards under the Plans are made by the Compensation Governance and Nominating Committee (CGNC) of the PPL Board of Directors, in the case of the ICP, and by the PPL Corporate Leadership Council (CLC), in the case of the ICPKE. The ICP limits the total number of awards that may be granted under it after April23, 1999 to 15,769,430 awards, or 5% of the total shares of PPL common stock that were outstanding at April23, 1999.The ICPKE limits the total number of awards that may be granted under it after April 25, 2003 to 16,573,608 awards, or 5% of the total shares of PPL common stock that were outstanding at January 1, 2003, reduced by outstanding awards of 2,373,812, for which PPL common stock was not yet issued as of April 25, 2003, resulting in a limit of 14,199,796.In addition, each Plan limits the number of shares available for awards in any calendar year to 2% of the outstanding common stock of PPL on the first day of such calendar year.The maximum number of options that can be awarded under each Plan to any single eligible employee in any calendar year is three million shares.Any portion of these options that has not been granted may be carried over and used in any subsequent year.If any award lapses, is forfeited or the rights of the participant terminate, the shares of PPL common stock underlying such an award are again available for grant.Shares delivered under the Plans may be in the form of authorized and unissued PPL common stock, common stock held in treasury by PPL or PPL common stock purchased on the open market (including private purchases) in accordance with applicable securities laws. Restricted Stock and Restricted Stock Units Restricted shares of PPL common stock are outstanding shares with full voting and dividend rights.Restricted stock awards are granted as a retention award for select key executives and vest when the recipient reaches a certain age or meets service or other criteria set forth in the executive's restricted stock award agreement.The shares are subject to forfeiture or accelerated payout under Plan provisions for termination, retirement, disability and death of employees.Restricted shares vest fully if control of PPL changes, as defined by the plans. The Plans allow for the grant of restricted stock units.Restricted stock units are awards based on the fair market value of PPL common stock.Actual PPL common shares will be issued upon completion of a vesting period, generally three years.Recipients of restricted stock units may also be granted the right to receive dividend equivalents through the end of the restriction period or until the award is forfeited.Restricted stock units are subject to forfeiture or accelerated payout under the Plan provisions for termina

12. Retirement and Postemployme

12. Retirement and Postemployment Benefits
	12 Months Ended Dec. 31, 2009 USD / shares
Notes to Financial Statements [Abstract]
Retirement and Postemployment Benefits	12. Retirement and Postemployment Benefits (PPL, PPL Energy Supply and PPL Electric) Defined Benefits PPL and certain of its subsidiaries sponsor various defined benefit plans. The majority of PPL's domestic employees are eligible for pension benefits under non-contributory defined benefit pension plans with benefits based on length of service and final average pay, as defined by the plans.Certain employees may also be eligible for pension enhancements in the form of special termination benefits under PPL's separation plan.See "Separation Benefits" below for additional information regarding PPL's separation plan. Employees of PPL Montana are eligible for pension benefits under a cash balance pension plan and employees of certain of PPL's mechanical contracting companies are eligible for benefits under multi-employer plans sponsored by various unions.The employees of WPD are eligible for pension benefits under a defined benefit pension plan with benefits based on length of service and final average pay. PPL and certain of its subsidiaries also provide supplemental retirement benefits to executives and other key management employees through unfunded nonqualified retirement plans. The majority of employees of PPL's domestic subsidiaries will become eligible for certain health care and life insurance benefits upon retirement through contributory plans.Postretirement benefits under the PPL Retiree Health Plan are paid from funded VEBA trusts sponsored by PPL Services and a 401(h) account established within the PPL Services pension master trust by the respective companies.Postretirement benefits under the PPL Montana Retiree Health Plan are paid from company assets.WPD does not sponsor any postretirement benefit plans other than pensions. The following disclosures distinguish between the domestic (U.S.) and WPD (U.K.) pension plans. Pension Benefits U.S. U.K. Other Postretirement Benefits 2009 2008 2007 2009 2008 2007 2009 2008 2007 PPL Net periodic defined benefit costs: Service cost $ 60 $ 62 $ 63 $ 9 $ 16 $ 24 $ 6 $ 8 $ 8 Interest cost 145 140 132 156 188 170 29 33 31 Expected return on plan assets (169 ) (180 ) (175 ) (189 ) (231 ) (227 ) (18 ) (21 ) (21 ) Amortization of: Transition (asset) obligation (5 ) (4 ) (4 ) 9 9 9 Prior service cost 19 20 19 4 5 5 9 9 9 Actuarial (gain) loss 3 (9 ) 2 2

13. Jointly Owned Facilities

13. Jointly Owned Facilities
	12 Months Ended Dec. 31, 2009 USD / shares
Notes to Financial Statements [Abstract]
Jointly Owned Facilities	13. Jointly Owned Facilities (PPL and PPL Energy Supply) At December31, 2009 and 2008, subsidiaries of PPL and PPL Energy Supply owned interests in the facilities listed below.The Balance Sheets of PPL and PPL Energy Supply include the amounts noted in the following table. Ownership Interest Electric Plant Other Property Accumulated Depreciation Construction Work inProgress December31, 2009 PPL Generation Generating Stations Susquehanna 90.00% $ 4,571 $ 3,475 $ 108 Conemaugh 16.25% 206 99 9 Keystone 12.34% 199 61 4 Merrill Creek Reservoir 8.37% $ 22 15 December31, 2008 PPL Generation Generating Stations Susquehanna 90.00% $ 4,513 $ 3,472 $ 111 Conemaugh 16.25% 206 93 1 Keystone 12.34% 105 58 64 Wyman Unit 4 (a) 8.33% 15 7 Merrill Creek Reservoir 8.37% $ 22 14 (a) See Note 9 for information regarding the December 2009 sale of this interest. In addition to the interests mentioned above, PPL Montana had a 50% leasehold interest in Colstrip Units 1 and 2 and a 30% leasehold interest in Colstrip Unit 3 under operating leases.See Note 10 for additional information.At December31, 2009 and 2008, NorthWestern owned a 30% leasehold interest in Colstrip Unit 4.PPL Montana and NorthWestern have a sharing agreement to govern each party's responsibilities regarding the operation of Colstrip Units 3 and4, and each party is responsible for 15% of the respective operating and construction costs, regardless of whether a particular cost is specified to Colstrip Unit 3 or 4. Each PPL Generation subsidiary provides its own funding for its share of the facility.Each receives a portion of the total output of the generating stations equal to its percentage ownership.The share of fuel and other operating costs associated with the stations is included in the corresponding operating expenses on the Statements of Income.

14. Commitments and Contingenci

14. Commitments and Contingencies
	12 Months Ended Dec. 31, 2009 USD / shares
Notes to Financial Statements [Abstract]
Commitments and Contingencies	14. Commitments and Contingencies Energy Purchases, Energy Sales and Other Commitments Energy Purchase Commitments (PPL and PPL Energy Supply) PPL and PPL Energy Supply enter into long-term purchase contracts to supply the fuel requirements for generation facilities.These contracts include commitments to purchase coal, emission allowances, limestone, natural gas, oil and nuclear fuel.These long-term contracts extend through 2019, excluding a limestone contract that extends through 2030.PPL and PPL Energy Supply also enter into long-term contracts for the storage and transportation of natural gas.The long-term natural gas storage contracts extend through 2015, and the long-term natural gas transportation contracts extend through 2032.Additionally, PPL and PPL Energy Supply have entered into long-term contracts to purchase power that extend through 2017, excluding long-term power purchase agreements for the full output of two wind farms that extend through 2027. As part of the purchase of generation assets from Montana Power, PPL Montana assumed a power purchase and power sales agreement, which expires at December31, 2010.In accordance with purchase accounting guidelines, PPL Montana recorded a liability of $58 million as the fair value of the agreement at the acquisition date.The liability is being reduced over the term of the agreement as an adjustment to "Energy purchases" on the Statements of Income.At December 31, 2009, the $11 million unamortized balance of this liability was included in "Other current liabilities" on the Balance Sheet.At December 31, 2008, the unamortized balance of this liability was $24 million, of which $13 million was included in "Other current liabilities" and $11 million was included in "Other deferred credits and noncurrent liabilities" on the Balance Sheet. In 1998, PPL Electric recorded an $879 million loss accrual for above-market contracts with NUGs, due to deregulation of its generation business.Effective January 1999, PPL Electric began reducing this liability as an offset to "Energy purchases" on the Statements of Income.This reduction is based on the estimated timing of the purchases from the NUGs and projected market prices for this generation.The final NUG contract expires in 2014.In connection with PPL's corporate realignment in 2000, the remaining balance of this liability was transferred to PPL EnergyPlus.At December 31, 2009, the unamortized balance of this liability was $4 million, of which $1 million was included in "Other current liabilities" and $3 million was included in "Other deferred credits and noncurrent liabilities" on the Balance Sheet.At December 31, 2008, the unamortized balance of this liability was $29 million, of which $25 million was included in "Other current liabilities" and $4 million was included in "Other deferred credits and noncurrent liabilities" on the Balance Sheet. In 2008, PPL EnergyPlus acquired the rights to an existing long-term tolling agreement associated with the capacity and energy of Ironwood.Under the agreement, PPL EnergyPlus has control over the plant's dispatch into the electricity grid and supplies the natural gas necessary t

15. Related Party Transactions

15. Related Party Transactions
	12 Months Ended Dec. 31, 2009 USD / shares
Notes to Financial Statements [Abstract]
Related Party Transactions	15. Related Party Transactions Affiliate Trust(PPL and PPL Energy Supply) In February 2007, WPD LLP redeemed all of the 8.23% Subordinated Debentures maturing in February 2027 that were held by SIUK Capital Trust I.Upon redemption, WPD LLP paid a premium of 4.115%, or approximately $3 million, on the principal amount of $85 million of subordinated debentures.Payment of $29 million was also made to settle related cross-currency swaps and is included on the Statement of Cash Flows as a component of "Retirement of long-term debt."Interest expense on this obligation was $2 million for 2007.The redemption resulted in a recorded loss of $2 million during 2007.This interest expense and loss are both reflected in "Interest Expense" for PPL and PPL Energy Supply on the Statement of Income. PLR Contracts(PPL Energy Supply and PPL Electric) PPL Electric had power purchase agreements with PPL EnergyPlus, effective July 2000 and January 2002, under which PPL EnergyPlus supplied PPL Electric's entire PLR load.These contracts expired December 31, 2009.Under these contracts, PPL EnergyPlus provided electricity at the predetermined capped prices that PPL Electric was authorized to charge its PLR customers.These purchases totaled $1.8 billion in 2009, 2008 and 2007.These purchases include nuclear decommissioning recovery and amortization of an up-front contract payment and are included in the Statements of Income as "Wholesale energy marketing to affiliate" by PPL Energy Supply, and as "Energy purchases from affiliate" by PPL Electric. Under one of the PLR contracts, PPL Electric was required to make performance assurance deposits with PPL EnergyPlus when the market price of electricity was less than the contract price by more than its contract collateral threshold.Conversely, PPL EnergyPlus was required to make performance assurance deposits with PPL Electric when the market price of electricity was greater than the contract price by more than its contract collateral threshold.At December31, 2008, PPL Energy Supply was required to provide PPL Electric with performance assurance of $300 million.PPL Electric paid interest equal to the one-month LIBOR plus 0.5% on this deposit, which is included in "Interest Expense with Affiliate" on the Statements of Income.PPL Energy Supply recorded the receipt of the interest as affiliated interest income, which is included in "Interest Income from Affiliates" on the Statements of Income.Interest related to the required deposits was $2 million, $10 million and $17 million for 2009, 2008 and 2007. PPL Electric has held competitive solicitations for generation supply in 2010 and 2011.PPL EnergyPlus was one of the successful bidders in the first competitive solicitation process and has entered into an agreement with PPL Electric to supply up to 671 MW of total peak load in 2010, at an average price of $91.42 per MWh. Under the standard Supply Master Agreement for the bid solicitation process, PPL Electric requires all suppliers to post collateral once credit exposures exceed defined credit limits.In no instance is PPL Electric required to post collateral to suppliers under these supply contracts

16. Other Income - net

16. Other Income - net
	12 Months Ended Dec. 31, 2009 USD / shares
Notes to Financial Statements [Abstract]
Other Income - net	16. Other Income - net (PPL, PPL Energy Supply and PPL Electric) The breakdown of "Other Income - net" was: 2009 2008 2007 PPL Other Income Gains related to the extinguishment of notes (Note 7) $ 29 Earnings on securities in the NDT funds 20 $ 10 $ 16 Interest income 14 33 61 Mine remediation liability adjustment 11 (2 ) Hyder liquidation distributions 3 6 Gain (loss) on sales of PPE (1 ) 12 Miscellaneous - Domestic 11 7 12 Miscellaneous - International 1 1 9 Total 75 64 114 Other Deductions Economic foreign currency hedges 9 (9 ) 8 Charitable contributions 6 5 6 Miscellaneous - Domestic 7 7 Miscellaneous - International 4 6 3 Other Income - net $ 49 $ 55 $ 97 PPL Energy Supply Other Income Gains related to the extinguishment of notes (Note 7) $ 25 Earnings on securities in the NDT funds 20 $ 10 $ 16 Interest income 6 23 48 Mine remediation liability adjustment 11 (2 ) Hyder liquidation distributions 3 6 Gain (loss) on sales of PPE 1 8 Miscellaneous - Domestic 5 6 8 Miscellaneous - International 1 1 9 Total 57 55 93 Other Deductions Economic foreign currency hedges 9 (9 ) 8 Miscellaneous - Domestic 9 10 2 Miscellaneous - International 4 6 3 Other Income - net $ 35 $ 48 $ 80 PPL Electric Other Income Interest income $ 8 $ 7 $ 9 Gain on sales of PPE 4 Miscellaneous 1 Total 8 7 14 Other Deductions 2 2 2 Other Income - net $ 6 $ 5 $ 12

17. Fair Value Measurements and

17. Fair Value Measurements and Credit Concentrations
	12 Months Ended Dec. 31, 2009 USD / shares
Notes to Financial Statements [Abstract]
Fair Value Measurements and Credit Concentrations	17. Fair Value Measurements and Credit Concentrations (PPL, PPL Energy Supply and PPL Electric) Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (an exit price).Fair value guidance establishes a fair value hierarchy that prioritizes the inputs used to measure fair value into three broad levels.See Note 1 for additional information on fair value measurements.See Note 12 for more information regarding the fair value and related valuation techniques for retirement and postretirement benefit plan assets. Recurring Fair Value Measurements The assets and liabilities measured at fair value were: December31, 2009 December31, 2008 Fair Value Measurements Using Fair Value Measurements Using Total Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 PPL Assets Cash and cash equivalents $ 801 $ 801 $ 1,100 $ 1,100 Short-term investments - municipal debt securities 150 150 Restricted cash and cash equivalents 129 129 347 347 Price risk management assets: Energy commodities 3,354 3 $ 3,234 $ 117 2,460 19 $ 2,143 $ 298 Interest rate/foreign currency exchange 77 77 156 152 4 3,431 3 3,311 117 2,616 19 2,295 302 NDT funds: Cash and cash equivalents 7 7 4 4 Equity securities: U.S. large-cap 259 176 83 182 116 66 U.S. mid/small-cap 101 75 26 69 50 19 Debt securities: U.S. Treasury 74 74 77 77 U.S. government agency 9 9 14 14 Municipality 65 65 61 61 Investment-grade corporate 29 29 33 33 Residential mortgage-backed securities 1 1 2 2 Other 1 1 Receivables/p

18. Derivative Instruments and

18. Derivative Instruments and Hedging Activities
	12 Months Ended Dec. 31, 2009 USD / shares
Notes to Financial Statements [Abstract]
Derivative Instruments and Hedging Activities	18. Derivative Instruments and Hedging Activities Risk Management Objectives (PPL, PPL Energy Supply and PPL Electric) PPL has a risk management policy approved by the Board of Directors to manage market risk and counterparty credit risk.The RMC, comprised of senior management and chaired by the Chief Risk Officer, oversees the risk management function.Key risk control activities designed to ensure compliance with the risk policy and detailed programs include, but are not limited to, credit review and approval, validation of transactions and market prices, verification of risk and transaction limits, VaR analyses, portfolio stress tests, gross margin at risk analyses, sensitivity analyses, and daily portfolio reporting, including open positions, determinations of fair value, and other risk management metrics. Market risk is the potential loss PPL and its subsidiaries may incur as a result of price changes associated with a particular financial or commodity instrument. PPL and PPL Energy Supply are exposed to market risk from: commodity price basis and volumetric risks for energy and energy-related products associated with the sale of electricity from its generating assets and other electricity marketing activities and the purchase of fuel and fuel-related commodities for generating assets, as well as for proprietary trading activities; interest rate and price risk associated with debt used to finance operations, as well as debt and equity securities in NDT funds and defined benefit plans; and foreign currency exchange rate risk associated with investments in U.K. affiliates, as well as purchases of equipment in currencies other than U.S. dollars. PPL and PPL Energy Supply utilize forward contracts, futures contracts, options, swaps and structured deals such as tolling agreements as part of the risk management strategy to minimize unanticipated fluctuations in earnings caused by changes in commodity prices, interest rates and foreign currency exchange rates.All derivatives are recognized on the balance sheet at their fair value, unless they qualify for NPNS. PPL and PPL Electric are exposed to market price and volumetric risks from PPL Electric's obligation as the PLR to its customers.It has mitigated that risk with the fixed-price PLR agreement with PPL EnergyPlus, which expired at the end of 2009, and by entering into supply agreements for its customers for 2010 and 2011. Credit risk is the potential loss PPL and its subsidiaries may incur due to a counterparty's non-performance, including defaults on payments and energy commodity deliveries. PPL and PPL Energy Supply are exposed to credit risk from: commodity derivatives with its energy trading partners, which include other energy companies, fuel suppliers, and financial institutions; interest rate derivatives with financial institutions; and foreign currency derivatives with financial institutions. PPL and PPL Electric are exposed to credit risk from PPL Electric's supply agreements for its customers for 2010 and 2011. The majority of the credit risk stems from PPL Energy Supply's and PPL Electric's commodity derivatives for m

19. Goodwill and Other Intangib

19. Goodwill and Other Intangible Assets
	12 Months Ended Dec. 31, 2009 USD / shares
Notes to Financial Statements [Abstract]
Goodwill and Other Intangible Assets	19. Goodwill and Other Intangible Assets Goodwill (PPL and PPL Energy Supply) The changes in the carrying amount of goodwill by segment were: Supply International Delivery Total 2009 2008 2009 2008 2009 2008 Balance at beginning of period (a) $ 94 $ 94 $ 669 $ 897 $ 763 $ 991 Allocation to discontinued operations (b) (3 ) (3 ) Effect of foreign currency exchange rates 46 (228 ) 46 (228 ) Balance at end of period $ 91 $ 94 $ 715 $ 669 $ 806 $ 763 (a) There were no accumulated impairment losses related to goodwill recorded at January 1, 2008. (b) Allocated to the Long Island and the majority of the Maine hydroelectric generation businesses and written off. Other Intangibles (PPL) The gross carrying amount and the accumulated amortization of other intangible assets were: December31, 2009 December31, 2008 Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization Subject to amortization: Land and transmission rights $ 272 $ 114 $ 244 $ 110 Emission allowances/RECs(a)(b) 56 88 Lease arrangement and other (c) 375 41 372 23 Not subject to amortization due to indefinite life: Land and transmission rights 16 16 Easements 76 67 $ 795 $ 155 $ 787 $ 133 (a) Removed from the Balance Sheets and expensed when consumed or sold.Consumption expense was $32 million, $25 million, and $108 million in 2009, 2008, and 2007.Consumption expense is estimated at $26 million for 2010, $8 million for 2011, $2 million for 2012 and $1 million for 2013 and 2014. (b) During 2009, PPL recorded $37 million of impairment charges.See Note 17 for additional information. (c) "Other" includes costs for the development of licenses, the most significant of which is the COLA.Amortization of these costs begins when the related asset is placed in service.See Note 8 for additional information on the COLA. Current intangible assets and long-term intangible assets are included in "Other intangibles" in their respective areas on the Balance Sheets. Amortization expense, excluding consumption of emission allowances/RECs, was $22 million, $13 million and $7 million in 2009, 2008 and 2007, and is estimated to be $23 million per year for 2010 through 2014. (PPL Energy Supply) The gross carrying amount and the accumulated amortization of other intangible assets were: December31, 2009 December31, 2008 Gross Carrying Amount Ac

20. Asset Retirement Obligation

20. Asset Retirement Obligations
	12 Months Ended Dec. 31, 2009 USD / shares
Notes to Financial Statements [Abstract]
Asset Retirement Obligations	20. Asset Retirement Obligations (PPL and PPL Energy Supply) PPL and PPL Energy Supply recognized, as liabilities in the financial statements, various legal obligations associated with the retirement of long-lived assets, the largest of which relates to the decommissioning of the Susquehanna plant.Other AROs recorded relate to significant interim retirements at the Susquehanna plant and various environmental requirements for coal piles, ash basins and other waste basin retirements. PPL and PPL Energy Supply have recorded several conditional AROs, the most significant of which related to the removal and disposal of asbestos-containing material. In addition to the AROs that were recorded for asbestos-containing material, PPL and PPL Energy Supply identified other asbestos-related obligations, but were unable to reasonably estimate their fair values.These retirement obligations could not be reasonably estimated due to indeterminable settlement dates.The generation plants, where significant amounts of asbestos-containing material are located, have been well maintained and large capital and environmental investments are being made at these plants.During the previous five years, the useful lives of the plants had been reviewed and in most cases significantly extended.Due to these circumstances, PPL management was unable to reasonably estimate a settlement date or range of settlement dates for the remediation of all of the asbestos-containing material at the generation plants.If economic events or other circumstances change that enable PPL and PPL Energy Supply to reasonably estimate the fair value of these retirement obligations, they will be recorded at that time. Other conditional AROs that were recorded related to treated wood poles, gas-filled switchgear and fluid-filled cables.These obligations, required by U.K. law, had an insignificant impact on the financial statements. PPL and PPL Energy Supply also identified legal retirement obligations associated with the retirement of a reservoir and certain transmission assets that could not be reasonably estimated due to indeterminable settlement dates. Current AROs are included in "Other current liabilities" and long-term AROs are included in "Asset retirement obligations" on the Balance Sheets.The changes in the carrying amounts of AROs were: 2009 2008 ARO at beginning of period $ 389 $ 376 Accretion expense 31 29 New obligations incurred 9 12 Change in estimated cash flow or settlement date 16 (4 ) Change in foreign currency exchange rates (2 ) Obligations settled (19 ) (22 ) ARO at end of period $ 426 $ 389 Changes in ARO costs and settlement dates, which affect the carrying value of various AROs, are reviewed periodically to ensure that any material changes are incorporated into the latest estimates of the obligation.In 2009, PPL Energy Supply revised cost estimates for several AROs and recognized additional asbestos liabilities at several plants, the most signif

21. Available-for-Sale Securiti

21. Available-for-Sale Securities
	12 Months Ended Dec. 31, 2009 USD / shares
Notes to Financial Statements [Abstract]
Available-for-Sale Securities	21. Available-for-Sale Securities (PPL, PPL Energy Supply and PPL Electric) PPL and its subsidiaries classify auction rate securities, certain short-term investments and securities held by the NDT funds as available-for-sale.Available-for-sale securities are carried on the balance sheet at fair value.Unrealized gains and losses on these securities are reported, net of tax, in OCI or are recognized currently in earnings when a decline in fair value is determined to be other-than-temporary. (PPL and PPL Energy Supply) The following table shows the amortized cost of available-for-sale securities and the gross unrealized gains and losses recorded in AOCI at December 31.See Note 17 for information regarding the fair value of these securities. 2009 2008 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Amortized Cost Gross Unrealized Gains Gross Unrealized Losses(a) PPL Short-term investments municipal debt securities $ 150 NDT funds: Cash and cash equivalents $ 7 4 Equity securities: U.S. large-cap 170 $ 89 160 $ 22 U.S. mid/small-cap 65 36 60 9 Debt securities: U.S. Treasury 72 2 67 10 U.S. government agency 9 13 1 Municipality 63 2 59 2 Investment-grade corporate 28 1 31 2 Residential mortgage-backed securities 1 2 Other 1 Receivables/Payables, net 3 3 418 130 400 46 Auction rate securities 25 29 $ (5 ) Total PPL $ 443 $ 130 $ 579 $ 46 $ (5 ) PPL Energy Supply Short-term investments municipal debt securities $ 150 NDT funds: Cash and cash equivalents $ 7 4 Equity securities: U.S. large-cap 170 $ 89 160 $ 22 U.S. mid/small-cap 65 36 60 9 Debt securities: U.S. Treasury 72 2 67

22. New Accounting Guidance Pen

22. New Accounting Guidance Pending Adoption
	12 Months Ended Dec. 31, 2009 USD / shares
Notes to Financial Statements [Abstract]
New Accounting Guidance Pending Adoption	22. New Accounting Guidance Pending Adoption (PPL, PPL Energy Supply and PPL Electric) Accounting for Transfers of Financial Assets Effective January 1, 2010, PPL and its subsidiaries will adopt accounting guidance that was issued to revise the accounting for transfers of financial assets.This guidance: eliminates the concept of a qualifying special-purpose entity (QSPE); therefore, QSPEs will be subject to consolidation guidance; changes the requirements for the derecognition of financial assets; establishes new criteria for reporting the transfer of a portion of a financial asset as a sale; requires transferors to initially recognize, at fair value, assets obtained and liabilities incurred as a result of a transfer accounted for as a sale; and requires enhanced disclosures to improve the transparency around transfers of financial assets and a transferor's continuing involvement. Early adoption is prohibited.This guidance will be applied prospectively to new transfers of financial assets.Disclosures will be required for all transfers, including those entered into before the effective date.Comparative disclosures are encouraged, but not required, for periods in which these disclosures were not previously required.The January 1, 2010 adoption is not expected to have a significant impact on PPL and its subsidiaries; however, the impact in future periods could be material. Consolidation of Variable Interest Entities Effective January 1, 2010, PPL and its subsidiaries will adopt accounting guidance that was issued to replace the quantitative-based risks and rewards calculation for determining which entity, if any, has a controlling financial interest in a variable interest entity (VIE) and is the primary beneficiary.The primary beneficiary must consolidate the VIE.This guidance: prescribes a qualitative approach focused on identifying which entity has the power to direct the activities of a VIE that most significantly impact the VIE's economic performance and the obligation to absorb losses of or the right to receive benefits from the VIE that could potentially be significant to the VIE; requires ongoing assessments of whether an entity is the primary beneficiary of a VIE; requires enhanced disclosures to improve the transparency of an entity's involvement in a VIE; requires that all previous consolidation conclusions be reconsidered; and requires that QSPEs be evaluated for consolidation (resulting from the elimination of the QSPE concept in the guidance addressing accounting for transfers of financial assets). If the initial application results in consolidation of a VIE, the assets, liabilities and noncontrolling interests of the VIE will be measured at their carrying amounts as if this guidance had been applied from the point in time the entity became the primary beneficiary of the VIE (unless the fair value option is elected).Any difference between the net amounts required to be recognized and the amount of any previously recognized interest will be reflected as a cumulative-effect adjustment to retained earnings.If initial application results in deconsolidation of a VIE, any

QUARTERLY FINANCIAL DATA

QUARTERLY FINANCIAL DATA (UNAUDITED)
	12 Months Ended Dec. 31, 2009 USD / shares
Schedule to Financial Statements [Abstract]
Quarterly Financial Data (Unaudited)	QUARTERLY FINANCIAL, COMMON STOCK PRICE AND DIVIDEND DATA (Unaudited) PPL Corporation and Subsidiaries (Millions of Dollars, except per share data) For the Quarters Ended (a) March 31 June 30 Sept. 30 Dec. 31 2009 Operating revenues as previously reported $ 2,359 Reclassification of discontinued operations (b) (8 ) Operating revenues 2,351 $ 1,673 $ 1,805 $ 1,727 Operating income as previously reported 417 Reclassification of discontinued operations (b) (5 ) Operating income 412 104 181 264 Income from continuing operations after income taxes as previously reported 246 Reclassification of discontinued operations (b) (3 ) Income from continuing operations after income taxes 243 29 50 144 Income (loss) from discontinued operations as previously reported Reclassification of discontinued operations (b) 3 Income (loss) from discontinued operations 3 (32 ) (24 ) 13 Net income (loss) 246 (3 ) 26 157 Net income attributable to PPL 241 (7 ) 20 153 Income from continuing operations after income taxes available to PPL common shareowners: (c) Basic EPS 0.64 0.07 0.12 0.37 Diluted EPS 0.64 0.07 0.12 0.37 Net income available to PPL common shareowners: (c) Basic EPS 0.64 (0.02 ) 0.05 0.40 Diluted EPS 0.64 (0.02 ) 0.05 0.40 Dividends declared per share of common stock (d) 0.345 0.345 0.345 0.345 Price per common share: High $ 33.54 $ 34.42 $ 34.21 $ 33.05 Low 24.25 27.40 28.27 28.82 2008 Operating revenues $ 1,516 $ 1,014 $ 2,971 $ 2,506 Operating income 473 385 384 551 Income from continuing operations after income taxes 247 189 210 281 Income (loss) from discontinued operations 18 6 (2 ) 1 Net income 265 195 208 282 Net income attributable to PPL 260 190 203 277 Income from continuing operations after income taxes available to PPL common shareowners: (c) Basic EPS 0.64 0.

Document Information

Document Information
	12 Months Ended Dec. 31, 2009 USD / shares
Document Information [Text Block]
Document Type	10-K
Document Period End Date	2009-12-31
Amendment Flag	false

Entity Information

Entity Information (USD $)
	12 Months Ended Dec. 31, 2009	Jan. 29, 2010	Jun. 30, 2009
Entity [Text Block]
Entity Registrant Name	PPL CORP
Entity Central Index Key	0000922224
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	No
Entity Filer Category	Large Accelerated Filer
Entity Public Float			$12,397,711,909
Entity Common Stock, Shares Outstanding		377,900,179