PPL Corp Files 2024 Annual Report
Ticker: PPLC · Form: 10-K · Filed: Feb 13, 2025 · CIK: 922224
| Field | Detail |
|---|---|
| Company | Ppl Corp (PPLC) |
| Form Type | 10-K |
| Filed Date | Feb 13, 2025 |
| Risk Level | low |
| Pages | 15 |
| Reading Time | 18 min |
| Key Dollar Amounts | $0.01, $100 million |
| Sentiment | neutral |
Sentiment: neutral
Topics: annual-report, utilities, sec-filing
Related Tickers: PPL
TL;DR
PPL Corp dropped its 2024 10-K. All good.
AI Summary
PPL Corporation filed its annual report for the fiscal year ended December 31, 2024. The filing details its corporate structure, including subsidiaries like PPL Electric Utilities Corporation, Louisville Gas and Electric Company, and Kentucky Utilities Company. PPL Corporation's common stock is traded on the New York Stock Exchange under the symbol PPL.
Why It Matters
This 10-K filing provides a comprehensive overview of PPL Corporation's financial health and operational status for the past fiscal year, crucial for investors and stakeholders.
Risk Assessment
Risk Level: low — The provided text is an introductory section of a 10-K filing and does not contain specific financial risks or performance data.
Key Players & Entities
- PPL Corporation (company) — Registrant
- PPL Electric Utilities Corporation (company) — Subsidiary
- Louisville Gas and Electric Company (company) — Subsidiary
- Kentucky Utilities Company (company) — Subsidiary
- PPL (dollar_amount) — Trading Symbol for PPL Corporation Common Stock
- PPL/67 (dollar_amount) — Trading Symbol for Junior Subordinated Notes
- New York Stock Exchange (company) — Exchange
FAQ
What is the primary purpose of this Form 10-K filing?
The primary purpose is to provide an annual report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 for the fiscal year ended December 31, 2024.
Which stock exchange is PPL Corporation's common stock registered on?
PPL Corporation's common stock is registered on the New York Stock Exchange.
What are some of the named subsidiaries of PPL Corporation?
Some of the named subsidiaries are PPL Electric Utilities Corporation, Louisville Gas and Electric Company, and Kentucky Utilities Company.
What is the trading symbol for PPL Corporation's common stock?
The trading symbol for PPL Corporation's common stock is PPL.
What is the fiscal year end date for this report?
The fiscal year end date for this report is December 31, 2024.
Filing Stats: 4,529 words · 18 min read · ~15 pages · Grade level 13.4 · Accepted 2025-02-13 12:21:22
Key Financial Figures
- $0.01 — rporation had 737,762,262 shares of its $0.01 par value Common Stock outstanding. The
- $100 million — ject to KPSC jurisdiction, in excess of $100 million. Customer Choice Act - the Pennsylvan
Filing Documents
- ppl-20241231.htm (10-K) — 8437KB
- pp123124ex19.htm (EX-19) — 26KB
- ppl-12312024ex21.htm (EX-21) — 15KB
- ppl-12312024ex23a.htm (EX-23.A) — 2KB
- ppl-12312024ex23b.htm (EX-23.B) — 2KB
- ppl-12312024ex23c.htm (EX-23.C) — 2KB
- ppl-12312024ex23d.htm (EX-23.D) — 2KB
- ppl-12312024ex24.htm (EX-24) — 10KB
- ppl-12312024ex31a.htm (EX-31.A) — 11KB
- ppl-12312024ex31b.htm (EX-31.B) — 11KB
- ppl-12312024ex31c.htm (EX-31.C) — 11KB
- ppl-12312024ex31d.htm (EX-31.D) — 11KB
- ppl-12312024ex31e.htm (EX-31.E) — 11KB
- ppl-12312024ex31f.htm (EX-31.F) — 11KB
- ppl-12312024ex31g.htm (EX-31.G) — 11KB
- ppl-12312024ex31h.htm (EX-31.H) — 11KB
- ppl-12312024ex32a.htm (EX-32.A) — 7KB
- ppl-12312024ex32b.htm (EX-32.B) — 7KB
- ppl-12312024ex32c.htm (EX-32.C) — 7KB
- ppl-12312024ex32d.htm (EX-32.D) — 7KB
- ppl-12312024ex99a.htm (EX-99.A) — 189KB
- pp123124ex19001.jpg (GRAPHIC) — 204KB
- pp123124ex19002.jpg (GRAPHIC) — 252KB
- pp123124ex19003.jpg (GRAPHIC) — 243KB
- pp123124ex19004.jpg (GRAPHIC) — 286KB
- pp123124ex19005.jpg (GRAPHIC) — 282KB
- pp123124ex19006.jpg (GRAPHIC) — 302KB
- pp123124ex19007.jpg (GRAPHIC) — 256KB
- pp123124ex19008.jpg (GRAPHIC) — 71KB
- 0000922224-25-000009.txt ( ) — 44889KB
- ppl-20241231.xsd (EX-101.SCH) — 289KB
- ppl-20241231_cal.xml (EX-101.CAL) — 182KB
- ppl-20241231_def.xml (EX-101.DEF) — 1889KB
- ppl-20241231_lab.xml (EX-101.LAB) — 2717KB
- ppl-20241231_pre.xml (EX-101.PRE) — 2073KB
- ppl-20241231_htm.xml (XML) — 9613KB
FINANCIAL STATEMENTS
FINANCIAL STATEMENTS PPL Corporation and Subsidiaries Consolidated Statements of Income for the years ended December 31, 202 4 , 202 3 and 20 22 71 Consolidated Statements of Comprehensive Income for the years ended December 31, 202 4 , 202 3 and 20 2 2 72 Consolidated Statements of Cash Flows for the years ended December 31, 202 4 , 202 3 and 20 2 2 73 Consolidated Balance Sheets at December 31, 202 4 and 20 23 74 Consolidated Statements of Equity for the years ended December 31, 202 4 , 202 3 and 20 2 2 76 PPL Electric Utilities Corporation and Subsidiaries Consolidated Statements of Income for the years ended December 31, 202 4 , 202 3 and 20 2 2 78 Consolidated Statements of Cash Flows for the years ended December 31, 202 4 , 202 3 and 20 2 2 79 Consolidated Balance Sheets at December 31, 202 4 and 20 23 80 Consolidated Statements of Equity for the years ended December 31, 202 4 , 202 3 and 20 2 2 82 Louisville Gas and Electric Company 84 85 Balance Sheets at December 31, 202 4 and 202 3 86 88 Kentucky Utilities Company 90 91 Balance Sheets at December 31, 202 4 and 20 23 92 94 Table of Contents Item Page COMBINED NOTES TO FINANCIAL STATEMENTS Index to Combined Notes to Consolidated Financial Statements 95 1. Summary of Significant Accounting Policies 95 2. Segment and Related Information 105 3. Revenue from Contracts with Customers 109 4. Preferred Securities 113 5. Earnings Per Share 114 6. Income and Other Taxes 11
Signatures
Signatures 205 Certifications of Principal Executive Officer and Principal Financial Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 Certificates of Principal Executive Officer and Principal Financial Officer Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 PPL Corporation and Subsidiaries Long-term Debt Schedule Table of Contents GLOSSARY OF TERMS AND ABBREVIATIONS PPL Corporation and its subsidiaries CEP Reserves - CEP Reserves, Inc., a cash management subsidiary of PPL that maintains cash reserves for the balance sheet management of PPL and certain subsidiaries. KU - Kentucky Utilities Company, a public utility subsidiary of LKE engaged in the regulated generation, transmission, distribution and sale of electricity, primarily in Kentucky. LG&E - Louisville Gas and Electric Company, a public utility subsidiary of LKE engaged in the regulated generation, transmission, distribution and sale of electricity and the distribution and sale of natural gas in Kentucky. LKE - LG&E and KU Energy LLC, a subsidiary of PPL and the parent of LG&E, KU and other subsidiaries. LKS - LG&E and KU Services Company, a subsidiary of LKE that provides administrative, management and support services primarily to LG&E and KU, as well as to LKE and its other subsidiaries. Narragansett Electric - The Narragansett Electric Company, an entity that serves electric and natural gas customers in Rhode Island. On May 25, 2022, PPL and its subsidiary, PPL Rhode Island Holdings announced the completion of the acquisition of Narragansett Electric, which continues to provide services under the name Rhode Island Energy. Narragansett Electric is sometimes referred to as Rhode Island Energy or RIE. PPL - PPL Corporation, the ultimate parent holding company of PPL Electric, PPL Energy Funding, PPL Capital Funding, LKE, RIE and other subsidiaries. PPL Capital Funding - PPL Capital Funding, Inc., a financing subsidiary of PPL that provides financing for