Acquisitions, Development and Divestitures (Tables)

6 Months Ended

Jun. 30, 2022

Jun. 30, 2021

Business Combinations [Abstract]

Business Combination, Total Consideration

The fair value of the consideration paid for Narragansett Electric was as follows (in billions):

Aggregate enterprise consideration	$	5.3
Less: fair value of assumed long-term debt outstanding	1.5
Total cash consideration	$	3.8

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The table below shows the preliminary allocation of the purchase price to the assets acquired and liabilities assumed that were recorded in PPL’s Consolidated Balance Sheet at the Acquisition date.

	May 25, 2022
Assets
Current Assets
Cash and Cash Equivalents	$	142
Accounts Receivable (a)	195
Unbilled Revenues	54
Price Risk Management Assets	99
Regulatory Assets	75
Other Current Assets	65
Total Current Assets	630

	May 25, 2022
Noncurrent Assets
Property, Plant and Equipment, net	3,990
Regulatory Assets	437
Goodwill	1,581
Other Noncurrent Assets	134
Total Noncurrent Assets	6,142
Total Assets	$	6,772
Liabilities
Current Liabilities
Long-Term Debt Due Within One Year	$	14
Accounts Payable	183
Taxes Accrued	44
Regulatory Liabilities	237
Other Current Liabilities	198
Total Current Liabilities	676
Noncurrent Liabilities
Long-Term Debt	1,496
Regulatory Liabilities	628
Other Deferred Credits and Noncurrent Liabilities	150
Noncurrent Liabilities	2,274
Total Purchase Price (Balance Sheet Net Assets)	$	3,822

Business Acquisition, Pro Forma Information

The actual RIE Operating Revenues and Net income attributable to PPL included in PPL's Statement of Income for the period ended June 30, 2022, and PPL's unaudited pro forma 2022 and 2021 Operating Revenues and Net Income (Loss) attributable to PPL, including RIE, as if the Acquisition had occurred on January 1, 2021 are as follows.

	Operating Revenues		Net Income (Loss)
Actual RIE results included from May 25, 2022 - June 30, 2022 (a)	$	128	$	(29)
PPL Pro Forma for the six months ended 2022	4,203		456
PPL Pro Forma for the six months ended 2021	3,588		(259)

(a)Net Income (Loss) includes expenses of $48 million (pre-tax) related to commitments made as a condition of the Acquisition.

Disposal Groups, Including Discontinued Operations

The operations of the U.K. utility business are included in "Income (Loss) from Discontinued Operations (net of income taxes)" on the Statement of Income for the periods ended June 30, 2021 as follows:

	Three Months		Six Months
Operating Revenues	$	710	$	1,344
Operating Expenses	214		466
Other Income (Expense) - net	136		202
Interest Expense (a)	116		209
Income before income taxes	516		871
Loss on sale	38		(1,609)
Income taxes	(1)		750
Income (Loss) from Discontinued Operations (net of income taxes)	$	555	$	(1,488)

(a)No interest from corporate level debt was allocated to discontinued operations