PPL Corp
For the period ended Sep 30, 2024. Filed Nov 1, 2024.
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Sep 30, 2024 · Filed Nov 1, 2024
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9. Defined Benefits
- Defined Benefits
(PPL)
Certain net periodic defined benefit costs are applied to accounts that are further distributed among capital, expense, regulatory assets and regulatory liabilities, including certain costs allocated to applicable subsidiaries for plans sponsored by PPL Services and LKE. Following are the net periodic defined benefit costs (credits) of the plans sponsored by PPL and its subsidiaries for the periods ended September 30:
| Pension Benefits | ||||
|---|---|---|---|---|
| Three Months | Nine Months | |||
| 2024 | 2023 | 2024 | 2023 | |
| PPL | ||||
| Service cost | $9 | $8 | $26 | $25 |
| Interest cost | 45 | 47 | 137 | 141 |
| Expected return on plan assets | (74) | (77) | (224) | (232) |
| Amortization of: | ||||
| Prior service cost | 1 | 2 | 2 | 5 |
| Actuarial loss | 3 | 1 | 8 | 2 |
| Net periodic defined benefit costs (credits) | $(16) | $(19) | $(51) | $(59) |
| Other Postretirement Benefits | ||||
|---|---|---|---|---|
| Three Months | Nine Months | |||
| 2024 | 2023 | 2024 | 2023 | |
| PPL | ||||
| Service cost | $2 | $1 | $5 | $4 |
| Interest cost | 8 | 8 | 22 | 23 |
| Expected return on plan assets | (8) | (7) | (23) | (22) |
| Amortization of: | ||||
| Prior service cost | — | — | 1 | 1 |
| Actuarial loss | (1) | (1) | (4) | (4) |
| Net periodic defined benefit costs (credits) | $1 | $1 | $1 | $2 |
The non-service cost components of net periodic defined benefit costs (credits) (interest cost, expected return on plan assets, amortization of prior service cost and amortization of actuarial gain and loss) are presented in "Other Income (Expense) - net" on the Statements of Income. See Note 12 for additional information.
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