PPL Corp
For the period ended Jun 30, 2024. Filed Aug 2, 2024.
View on SEC.govAbout this filing
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.
Jun 30, 2024 · Filed Aug 2, 2024
Extracted filing text, with the paragraph anchors used by the comparison.
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Kentucky Utilities Company - Statement of Income Analysis
KU: Statement of Income Analysis
| Three Months | Six Months | |||||
|---|---|---|---|---|---|---|
| 2024 | 2023 | $ Change | 2024 | 2023 | $ Change | |
| Operating Revenues | ||||||
| Retail and wholesale | $457 | $433 | $24 | $981 | $931 | $50 |
| Electric revenue from affiliate | 7 | 2 | 5 | 8 | 3 | 5 |
| Total Operating Revenues | 464 | 435 | 29 | 989 | 934 | 55 |
| Operating Expenses | ||||||
| Operation | ||||||
| Fuel | 115 | 99 | 16 | 238 | 221 | 17 |
| Energy purchases | 6 | 6 | — | 12 | 12 | — |
| Energy purchases from affiliate | 3 | 8 | (5) | 19 | 21 | (2) |
| Other operation and maintenance | 101 | 117 | (16) | 203 | 226 | (23) |
| Depreciation | 101 | 98 | 3 | 200 | 196 | 4 |
| Taxes, other than income | 12 | 12 | — | 24 | 22 | 2 |
| Total Operating Expenses | 338 | 340 | (2) | 696 | 698 | (2) |
| Operating Income | 126 | 95 | 31 | 293 | 236 | 57 |
| Other Income (Expense) - net | 4 | 3 | 1 | 6 | 5 | 1 |
| Interest Expense | 33 | 33 | — | 67 | 66 | 1 |
| Interest Expense with Affiliate | 1 | 1 | — | 1 | 1 | — |
| Income Before Income Taxes | 96 | 64 | 32 | 231 | 174 | 57 |
| Income Taxes | 19 | 13 | 6 | 46 | 35 | 11 |
| Net Income | $77 | $51 | $26 | $185 | $139 | $46 |
| Three Months | Six Months | |
|---|---|---|
| Fuel and other energy purchases (a) | $13 | $17 |
| Volumes (b) | 13 | 33 |
| Other | 3 | 5 |
| Total | $29 | $55 |
(a)The increases were primarily due to higher recoveries of fuel expense from increased volumes.
(b)The increases were primarily due to weather.
Fuel
Fuel expense increased $16 million for the three months ended June 30, 2024 compared with 2023, primarily due to a $20 million increase in volumes due to weather, partially offset by a $4 million decrease in commodity costs.
Fuel expense increased $17 million for the six months ended June 30, 2024 compared with 2023, primarily due to a $28 million increase in volumes due to weather, partially offset by an $11 million decrease in commodity costs.
Energy Purchases from affiliate
Energy purchases from affiliate decreased $5 million for the three months ended June 30, 2024 compared with 2023, primarily due to a decrease in volumes.
| Three Months | Six Months | |
|---|---|---|
| ECR expenses | $(4) | $(7) |
| Transmission expenses | (6) | (5) |
| Overhead line expenses | (3) | (4) |
| Other | (3) | (7) |
| Total | $(16) | $(23) |
Income taxes increased $6 million and $11 million for the three and six months ended June 30, 2024 compared with 2023, primarily due to an increase in pre-tax income.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.