PPL Corp
For the period ended Sep 30, 2024. Filed Nov 1, 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.
Sep 30, 2024 · Filed Nov 1, 2024
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
15. Asset Retirement Obligations
- Asset Retirement Obligations
PPL's, LG&E's and KU's ARO liabilities are primarily related to CCR closure costs. See Note 10 for information on the CCR rules. LG&E and RIE also have AROs related to natural gas mains and wells. LG&E's and KU's transmission and distribution lines largely operate under perpetual property easement agreements, which do not generally require restoration upon removal of the property. Therefore, no material AROs are recorded for transmission and distribution assets. For LG&E, KU and RIE, all ARO accretion and depreciation expenses are reclassified as a regulatory asset or regulatory liability. ARO regulatory assets associated with certain CCR projects resulting from the 2015 CCR Rule are amortized to expense in accordance with regulatory approvals. For other AROs, deferred accretion and depreciation expense is recovered through cost of removal.
The changes in the carrying amounts of AROs were as follows.
| PPL | LG&E | KU | |
|---|---|---|---|
| Balance at December 31, 2023 | $158 | $85 | $66 |
| Accretion | 6 | 3 | 3 |
| New obligations incurred (a) | 8 | 3 | 5 |
| Changes in estimated cash flow or settlement date | 1 | 1 | (1) |
| Obligations settled | (15) | (8) | (7) |
| Other | 2 | — | — |
| Balance at September 30, 2024 | $160 | $84 | $66 |
(a) Primarily includes obligations recognized for preliminary risk assessments, facility evaluations, feasibility studies and sampling related to the CCR rule issued by the EPA in May of 2024. See Note 10 for additional information.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.