PPL Corp
For the period ended Mar 31, 2024. Filed May 1, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 1, 2024
Extracted filing text, with the paragraph anchors used by the comparison.
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Louisville Gas and Electric Company - Statement of Income Analysis
LG&E: Statement of Income Analysis
| Three Months | |||
|---|---|---|---|
| 2024 | 2023 | $ Change | |
| Operating Revenues | |||
| Retail and wholesale | $460 | $461 | $(1) |
| Electric revenue from affiliate | 16 | 13 | 3 |
| Total Operating Revenues | 476 | 474 | 2 |
| Operating Expenses | |||
| Operation | |||
| Fuel | 86 | 79 | 7 |
| Energy purchases | 71 | 84 | (13) |
| Energy purchases from affiliate | 1 | 1 | — |
| Other operation and maintenance | 88 | 91 | (3) |
| Depreciation | 76 | 75 | 1 |
| Taxes, other than income | 13 | 12 | 1 |
| Total Operating Expenses | 335 | 342 | (7) |
| Operating Income | 141 | 132 | 9 |
| Other Income (Expense) - net | 2 | 2 | — |
| Interest Expense | 26 | 25 | 1 |
| Income Before Income Taxes | 117 | 109 | 8 |
| Income Taxes | 24 | 23 | 1 |
| Net Income | $93 | $86 | $7 |
| Three Months | |
|---|---|
| Fuel and other energy purchases (a) | $(6) |
| Volumes (b) | 12 |
| Other | (4) |
| Total | $2 |
(a)The decrease was primarily due to lower recoveries of energy purchases, partially offset by higher recoveries of fuel expense.
(b)The increase was primarily due to weather.
Fuel
Fuel expense increased $7 million for the three months ended March 31, 2024 compared with 2023, primarily due to an increase in volumes due to weather.
Energy purchases decreased $13 million for the three months ended March 31, 2024 compared with 2023, primarily due to a $21 million decrease in commodity costs, partially offset by a $7 million increase in volumes due to weather.
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