PPL Corp
For the period ended Sep 30, 2024. Filed Nov 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.
Sep 30, 2024 · Filed Nov 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 | Nine Months | |||||
|---|---|---|---|---|---|---|
| 2024 | 2023 | $ Change | 2024 | 2023 | $ Change | |
| Operating Revenues | ||||||
| Retail and wholesale | $396 | $396 | $— | $1,219 | $1,204 | $15 |
| Electric revenue from affiliate | 1 | 2 | (1) | 20 | 23 | (3) |
| Total Operating Revenues | 397 | 398 | (1) | 1,239 | 1,227 | 12 |
| Operating Expenses | ||||||
| Operation | ||||||
| Fuel | 75 | 70 | 5 | 228 | 217 | 11 |
| Energy purchases | 19 | 17 | 2 | 105 | 123 | (18) |
| Energy purchases from affiliate | 11 | 8 | 3 | 19 | 11 | 8 |
| Other operation and maintenance | 84 | 91 | (7) | 259 | 275 | (16) |
| Depreciation | 76 | 76 | — | 229 | 227 | 2 |
| Taxes, other than income | 13 | 12 | 1 | 38 | 36 | 2 |
| Total Operating Expenses | 278 | 274 | 4 | 878 | 889 | (11) |
| Operating Income | 119 | 124 | (5) | 361 | 338 | 23 |
| Other Income (Expense) - net | 3 | — | 3 | 9 | 2 | 7 |
| Interest Income from Affiliates | 1 | 1 | — | 1 | 1 | — |
| Interest Expense | 26 | 25 | 1 | 78 | 76 | 2 |
| Income Before Income Taxes | 97 | 100 | (3) | 293 | 265 | 28 |
| Income Taxes | 20 | 21 | (1) | 61 | 55 | 6 |
| Net Income | $77 | $79 | $(2) | $232 | $210 | $22 |
| Three Months | Nine Months | |
|---|---|---|
| Fuel and other energy purchases (a) | $7 | $(3) |
| Volumes (b) | 5 | 31 |
| ECR (c) | (12) | (15) |
| Other | (1) | (1) |
| Total | $(1) | $12 |
(a)The increase for the three months ended September 30, 2024 was primarily due to higher recoveries of energy purchases and fuel expense.
(b)The increase for the nine months ended September 30, 2024 was primarily due to weather.
(c)The decreases were primarily due to an adjustment related to the ECR mechanism revenues.
Fuel
Fuel expense increased $5 million and $11 million for the three and nine months ended September 30, 2024 compared with 2023, primarily due to an increase in commodity costs.
Energy purchases decreased $18 million for the nine months ended September 30, 2024 compared with 2023, primarily due to a decrease in commodity costs.
| Three Months | Nine Months | |
|---|---|---|
| ECR expenses | $(5) | $(14) |
| Transmission expenses | — | (2) |
| Generation outage expenses | — | 6 |
| Overhead line expenses | (1) | (5) |
| Other | (1) | (1) |
| Total | $(7) | $(16) |
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