PPL Corp
For the period ended Dec 31, 2023. Filed Feb 16, 2024.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2023 · Filed Feb 16, 2024
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| UNITED STATESSECURITIES AND EXCHANGE COMMISSIONWashington, D.C. 20549 | |
|---|---|
| ☒ | ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 for the fiscal year ended December 31, 2023 |
| OR | |
| ☐ | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 for the transition period from _________ to ___________ |
| Commission FileNumber | Registrant; State of Incorporation;Address and Telephone Number | IRS EmployerIdentification No. |
|---|---|---|
| 1-11459 | PPL Corporation(Exact name of Registrant as specified in its charter)PennsylvaniaTwo North Ninth StreetAllentown, PA 18101-1179(610) 774-5151 | 23-2758192 |
| 1-905 | PPL Electric Utilities Corporation(Exact name of Registrant as specified in its charter)PennsylvaniaTwo North Ninth StreetAllentown, PA 18101-1179(610) 774-5151 | 23-0959590 |
| 1-2893 | Louisville Gas and Electric Company(Exact name of Registrant as specified in its charter)Kentucky220 West Main StreetLouisville, KY 40202-1377(502) 627-2000 | 61-0264150 |
| 1-3464 | Kentucky Utilities Company(Exact name of Registrant as specified in its charter)Kentucky and VirginiaOne Quality StreetLexington, KY 40507-1462(502) 627-2000 | 61-0247570 |
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s): | Name of each exchange on which registered |
|---|---|---|
| Common Stock of PPL Corporation | PPL | New York Stock Exchange |
| Junior Subordinated Notes of PPL Capital Funding, Inc. | ||
| 2007 Series A due 2067 | PPL/67 | New York Stock Exchange |
Securities registered pursuant to Section 12(g) of the Act:
Common Stock of PPL Electric Utilities Corporation
Indicate by check mark if the registrants are a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.
| PPL Corporation | Yes | ☒ | No | ☐ |
|---|---|---|---|---|
| PPL Electric Utilities Corporation | Yes | ☒ | No | ☐ |
| Louisville Gas and Electric Company | Yes | ☐ | No | ☒ |
| Kentucky Utilities Company | Yes | ☐ | No | ☒ |
Indicate by check mark if the registrants are not required to file reports pursuant to Section 13 or Section 15(d) of the Act.
| PPL Corporation | Yes | ☐ | No | ☒ |
|---|---|---|---|---|
| PPL Electric Utilities Corporation | Yes | ☐ | No | ☒ |
| Louisville Gas and Electric Company | Yes | ☐ | No | ☒ |
| Kentucky Utilities Company | Yes | ☐ | No | ☒ |
Indicate by check mark whether the registrants (1) have filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrants were required to file such reports), and (2) have been subject to such filing requirements for the past 90 days.
| PPL Corporation | Yes | ☒ | No | ☐ |
|---|---|---|---|---|
| PPL Electric Utilities Corporation | Yes | ☒ | No | ☐ |
| Louisville Gas and Electric Company | Yes | ☒ | No | ☐ |
| Kentucky Utilities Company | Yes | ☒ | No | ☐ |
Indicate by check mark whether the registrants have submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrants were required to submit such files).
| PPL Corporation | Yes | ☒ | No | ☐ |
|---|---|---|---|---|
| PPL Electric Utilities Corporation | Yes | ☒ | No | ☐ |
| Louisville Gas and Electric Company | Yes | ☒ | No | ☐ |
| Kentucky Utilities Company | Yes | ☒ | No | ☐ |
Indicate by check mark whether the registrants are large accelerated filers, accelerated filers, non-accelerated filers, smaller reporting companies or emerging growth companies. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company" and "emerging growth company" in Rule 12b-2 of the Exchange Act.
| Large acceleratedfiler | Acceleratedfiler | Non-acceleratedfiler | Smaller reportingcompany | Emerging growth company | |
| PPL Corporation | ☒ | ☐ | ☐ | ☐ | ☐ |
|---|---|---|---|---|---|
| PPL Electric Utilities Corporation | ☐ | ☐ | ☒ | ☐ | ☐ |
| Louisville Gas and Electric Company | ☐ | ☐ | ☒ | ☐ | ☐ |
| Kentucky Utilities Company | ☐ | ☐ | ☒ | ☐ | ☐ |
If emerging growth companies, indicate by check mark if the registrants have elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
| PPL Corporation | ☐ |
|---|---|
| PPL Electric Utilities Corporation | ☐ |
| Louisville Gas and Electric Company | ☐ |
| Kentucky Utilities Company | ☐ |
Indicate by check mark whether each registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report.
| PPL Corporation | ☒ |
|---|---|
| PPL Electric Utilities Corporation | ☐ |
| Louisville Gas and Electric Company | ☐ |
| Kentucky Utilities Company | ☐ |
If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements
of the registrants included in the filing reflect the correction of an error to previously issued financial statements.
| PPL Corporation | ☐ |
|---|---|
| PPL Electric Utilities Corporation | ☐ |
| Louisville Gas and Electric Company | ☐ |
| Kentucky Utilities Company | ☐ |
Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-
based compensation received by any of the registrants' executive officers during the relevant recovery period pursuant
to §240.10D-1(b).
| PPL Corporation | ☐ |
|---|---|
| PPL Electric Utilities Corporation | ☐ |
| Louisville Gas and Electric Company | ☐ |
| Kentucky Utilities Company | ☐ |
Indicate by check mark whether the registrants are shell companies (as defined in Rule 12b-2 of the Exchange Act).
| PPL Corporation | Yes | ☐ | No | ☒ |
|---|---|---|---|---|
| PPL Electric Utilities Corporation | Yes | ☐ | No | ☒ |
| Louisville Gas and Electric Company | Yes | ☐ | No | ☒ |
| Kentucky Utilities Company | Yes | ☐ | No | ☒ |
As of June 30, 2023, PPL Corporation had 737,085,881 shares of its $0.01 par value Common Stock outstanding. The aggregate market value of these common shares (based upon the closing price of these shares on the New York Stock Exchange on that date) held by non-affiliates was $19,503,292,411. As of January 31, 2024, PPL Corporation had 737,603,408 shares of its $0.01 par value Common Stock outstanding.
As of January 31, 2024, PPL Corporation held all 66,368,056 outstanding common shares, no par value, of PPL Electric Utilities Corporation.
As of January 31, 2024, LG&E and KU Energy LLC held all 21,294,223 outstanding common shares, no par value, of Louisville Gas and Electric Company.
As of January 31, 2024, LG&E and KU Energy LLC held all 37,817,878 outstanding common shares, no par value, of Kentucky Utilities Company.
PPL Electric Utilities Corporation, Louisville Gas and Electric Company and Kentucky Utilities Company meet the conditions set forth in General Instructions (I)(1)(a) and (b) of Form 10-K and are therefore filing this form with the reduced disclosure format.
Documents incorporated by reference:
PPL Corporation has incorporated herein by reference certain sections of PPL Corporation's 2024 Notice of Annual Meeting and Proxy Statement, which will be filed with the Securities and Exchange Commission not later than 120 days after December 31, 2023 and which will provide the information required by Part III of this Report.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.