KENTUCKY UTILITIES CO
For the period ended Sep 30, 2026. Filed Nov 6, 2026.
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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, 2026 · Filed Nov 6, 2026
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 | |||||
|---|---|---|---|---|---|---|
| 2026 | 2025 | $ Change | 2026 | 2025 | $ Change | |
| Operating Revenues | ||||||
| Retail and wholesale | $466 | $420 | $46 | $1,450 | $1,293 | $157 |
| Electric revenue from affiliate | 4 | 7 | (3) | 15 | 17 | (2) |
| Total Operating Revenues | 470 | 427 | 43 | 1,465 | 1,310 | 155 |
| Operating Expenses | ||||||
| Operation | ||||||
| Fuel | 96 | 97 | (1) | 263 | 254 | 9 |
| Energy purchases | 16 | 17 | (1) | 155 | 128 | 27 |
| Energy purchases from affiliate | 8 | 6 | 2 | 26 | 18 | 8 |
| Other operation and maintenance | 92 | 91 | 1 | 272 | 271 | 1 |
| Depreciation | 87 | 77 | 10 | 257 | 228 | 29 |
| Taxes, other than income | 15 | 13 | 2 | 43 | 39 | 4 |
| Total Operating Expenses | 314 | 301 | 13 | 1,016 | 938 | 78 |
| Operating Income | 156 | 126 | 30 | 449 | 372 | 77 |
| Other Income (Expense) - net | 7 | 8 | (1) | 19 | 16 | 3 |
| Interest Expense | 33 | 30 | 3 | 97 | 83 | 14 |
| Income Before Income Taxes | 130 | 104 | 26 | 371 | 305 | 66 |
| Income Taxes | 26 | 21 | 5 | 75 | 61 | 14 |
| Net Income | $104 | $83 | $21 | $296 | $244 | $52 |
| Three Months | Nine Months | |
|---|---|---|
| Retail rates (a) | $22 | $76 |
| Fuel and other energy purchases (b) | 4 | 53 |
| Volumes (c) | 11 | 5 |
| RAR | 5 | 15 |
| Other | 1 | 6 |
| Total | $43 | $155 |
(a)The increases were due to new base rates approved by the KPSC effective January 1, 2026.
(b)The increase for the nine months ended September 30, 2026 was primarily due to higher recoveries of fuel expenses, energy purchases and energy purchases from affiliate.
(c)The increase for the three months ended September 30, 2026 was due to increased sales volumes.
Fuel
Fuel expense increased $9 million for the nine months ended September 30, 2026 compared with 2025, primarily due to a $21 million increase in commodity costs, partially offset by a $9 million decrease in volumes.
Energy purchases increased $27 million for the nine months ended September 30, 2026 compared with 2025, primarily due to a $37 million increase in commodity costs, partially offset by a $9 million decrease in volumes.
Depreciation increased $10 million for the three months ended September 30, 2026 compared with 2025, primarily due to a $6 million increase from PP&E additions, net of retirements and a $4 million increase due to higher depreciation rates effective March 1, 2026.
Depreciation increased $29 million for the nine months ended September 30, 2026 compared with 2025, primarily due to a $16 million increase from PP&E additions, net of retirements and a $10 million increase due to higher depreciation rates effective March 1, 2026.
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