PPL Corp
For the period ended Mar 31, 2025. Filed Apr 30, 2025.
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.
Mar 31, 2025 · Filed Apr 30, 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
| Three Months | |||
|---|---|---|---|
| 2025 | 2024 | $ Change | |
| Operating Revenues | |||
| Retail and wholesale | $559 | $524 | $35 |
| Electric revenue from affiliate | 5 | 1 | 4 |
| Total Operating Revenues | 564 | 525 | 39 |
| Operating Expenses | |||
| Operation | |||
| Fuel | 152 | 123 | 29 |
| Energy purchases | 7 | 6 | 1 |
| Energy purchases from affiliate | 5 | 16 | (11) |
| Other operation and maintenance | 100 | 102 | (2) |
| Depreciation | 102 | 99 | 3 |
| Taxes, other than income | 12 | 12 | — |
| Total Operating Expenses | 378 | 358 | 20 |
| Operating Income | 186 | 167 | 19 |
| Other Income (Expense) - net | 5 | 2 | 3 |
| Interest Expense | 35 | 34 | 1 |
| Income Before Income Taxes | 156 | 135 | 21 |
| Income Taxes | 31 | 27 | 4 |
| Net Income | $125 | $108 | $17 |
| Three Months | |
|---|---|
| Fuel and other energy purchases (a) | $12 |
| Volumes (b) | 18 |
| Off-system sales (c) | 9 |
| Total | $39 |
(a)The increase was primarily due to higher recoveries of fuel expenses.
(b)The increase was primarily due to weather.
(c)The increase was primarily due to higher volumes.
Fuel
Fuel expense increased $29 million for the three months ended March 31, 2025 compared with 2024, primarily due to an increase in volumes due to weather and lower energy purchases from affiliates.
Energy Purchases from affiliate
Energy purchases from affiliate decreased $11 million for the three months ended March 31, 2025 compared with 2024, primarily due to a decrease in volumes due to the timing and scope of plant outages and retirements.
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