PPL Corp
For the period ended Dec 31, 2024. Filed Feb 13, 2025.
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FY2024 · Filed Feb 13, 2025
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
| Change | |||
|---|---|---|---|
| 2024 | 2023 | 2024 vs. 2023 | |
| Operating Revenues | |||
| Retail and wholesale | $1,944 | $1,872 | $72 |
| Electric revenue from affiliate | 20 | 12 | 8 |
| Total Operating Revenues | 1,964 | 1,884 | 80 |
| Operating Expenses | |||
| Operation | |||
| Fuel | 476 | 447 | 29 |
| Energy purchases | 25 | 24 | 1 |
| Energy purchases from affiliates | 31 | 33 | (2) |
| Other operation and maintenance | 413 | 427 | (14) |
| Depreciation | 403 | 392 | 11 |
| Taxes, other than income | 49 | 45 | 4 |
| Total Operating Expenses | 1,397 | 1,368 | 29 |
| Operating Income | 567 | 516 | 51 |
| Other Income (Expense) - net | 15 | 8 | 7 |
| Interest Expense | 137 | 134 | 3 |
| Interest Expense from Affiliate | — | 1 | (1) |
| Income Before Income Taxes | 445 | 389 | 56 |
| Income Taxes | 89 | 77 | 12 |
| Net Income | $356 | $312 | $44 |
| 2024 vs. 2023 | |
|---|---|
| Fuel and other energy purchases (a) | $28 |
| Volumes (b) | 39 |
| ECR | (8) |
| Demand | 8 |
| Other | 13 |
| Total | $80 |
(a)The increase was primarily due to higher recoveries of fuel expenses.
(b)The increase was primarily due to weather.
Fuel
Fuel expense increased $29 million in 2024 compared with 2023, primarily due to a $37 million increase in volumes due to weather, partially offset by an $8 million decrease in commodity costs.
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