PPL Corp
For the period ended Jun 30, 2024. Filed Aug 2, 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.
Jun 30, 2024 · Filed Aug 2, 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 | Six Months | |||||
|---|---|---|---|---|---|---|
| 2024 | 2023 | $ Change | 2024 | 2023 | $ Change | |
| Operating Revenues | ||||||
| Retail and wholesale | $363 | $347 | $16 | $823 | $808 | $15 |
| Electric revenue from affiliate | 3 | 8 | (5) | 19 | 21 | (2) |
| Total Operating Revenues | 366 | 355 | 11 | 842 | 829 | 13 |
| Operating Expenses | ||||||
| Operation | ||||||
| Fuel | 67 | 68 | (1) | 153 | 147 | 6 |
| Energy purchases | 15 | 22 | (7) | 86 | 106 | (20) |
| Energy purchases from affiliate | 7 | 2 | 5 | 8 | 3 | 5 |
| Other operation and maintenance | 87 | 93 | (6) | 175 | 184 | (9) |
| Depreciation | 77 | 76 | 1 | 153 | 151 | 2 |
| Taxes, other than income | 12 | 12 | — | 25 | 24 | 1 |
| Total Operating Expenses | 265 | 273 | (8) | 600 | 615 | (15) |
| Operating Income | 101 | 82 | 19 | 242 | 214 | 28 |
| Other Income (Expense) - net | 4 | — | 4 | 6 | 2 | 4 |
| Interest Expense | 26 | 26 | — | 52 | 51 | 1 |
| Income Before Income Taxes | 79 | 56 | 23 | 196 | 165 | 31 |
| Income Taxes | 17 | 11 | 6 | 41 | 34 | 7 |
| Net Income | $62 | $45 | $17 | $155 | $131 | $24 |
| Three Months | Six Months | |
|---|---|---|
| Fuel and other energy purchases (a) | $(3) | $(10) |
| Volumes (b) | 14 | 27 |
| Other | — | (4) |
| Total | $11 | $13 |
(a)The decrease for the six months ended June 30, 2024 was primarily due to lower recoveries of energy purchases, partially offset by higher recoveries of fuel expense.
(b)The increases were primarily due to weather.
Energy purchases decreased $7 million and $20 million for the three and six months ended June 30, 2024 compared with 2023, primarily due to a decrease in commodity costs.
Energy Purchases from affiliate
Energy purchases from affiliate increased $5 million for the three months ended June 30, 2024 compared with 2023, primarily due to an increase in volumes.
| Three Months | Six Months | |
|---|---|---|
| ECR expenses | $(5) | $(9) |
| Transmission expenses | (2) | (2) |
| Generation outage expenses | 3 | 6 |
| Other | (2) | (4) |
| Total | $(6) | $(9) |
Other Income (Expense) - net
Other income (expense) increased $4 million for the three months ended June 30, 2024 compared with 2023, primarily due to lower pension non service costs.
Income taxes increased $6 million for the three 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.