—This paper presents a modeling method for power distribution networks (PDNs) consisting of multilayered power/ground planes of the PCB/Package. Using our proposed method, multiple stacked power/ground plane pairs having holes and apertures can be modeled as an equivalent circuit. The structure of this equivalent circuit is suitable for the Latency Insertion Method (LIM), which is one of the fast transient simulation methods based on the "leapfrog" algorithm. Numerical results show that the leapfrog algorithm enables a speed-up of 105 and 486 times compared to the linear circuit simulator based on the sparse LU-decomposition and HSPICE, respectively, with the same level of accuracy. Keywords-component; power integrity; power distribution network; leapfrog algorithm; spice