Segment and Related Information

9 Months Ended

Sep. 30, 2022

Segment Reporting [Abstract]

Segment and Related Information

2. Segment and Related Information

(PPL)

PPL is organized into three segments: Kentucky Regulated, Pennsylvania Regulated and Rhode Island Regulated. PPL's segments are segmented by geographic location.

The Kentucky Regulated segment consists primarily of LG&E's and KU's regulated electricity generation, transmission and distribution operations, as well as LG&E's regulated distribution and sale of natural gas.

The Pennsylvania Regulated segment includes the regulated electricity transmission and distribution operations of PPL Electric.

The Rhode Island Regulated segment includes the regulated electricity transmission and distribution and natural gas distribution operations of RIE, which were acquired on May 25, 2022.

"Corporate and Other" primarily includes financing costs incurred at the corporate level that have not been allocated or assigned to the segments, certain other unallocated costs, certain non-recoverable costs resulting from commitments made to the Rhode Island Division of Public Utilities and Carriers and the Attorney General of the State of Rhode Island in conjunction with the acquisition of Narragansett Electric and the financial results of Safari Energy, which is presented to reconcile segment information to PPL's consolidated results.

As a result of the June 14, 2021 sale of the U.K. utility business, PPL determined segment information for the U.K. Regulated segment would no longer be provided beginning with the March 31, 2021 Form 10-Q. See Note 8 for additional information.

Income Statement data for the segments and reconciliation to PPL's consolidated results for the periods ended September 30 are as follows:

	Three Months				Nine Months
	2022		2021		2022		2021
Operating Revenues from external customers
Kentucky Regulated	$	977	$	879	$	2,864	$	2,505
Pennsylvania Regulated	766		627		2,217		1,769
Rhode Island Regulated	384		—		512		—
Corporate and Other	7		6		19		24
Total	$	2,134	$	1,512	$	5,612	$	4,298
Net Income (Loss)
Kentucky Regulated	$	153	$	159	$	434	$	389
Pennsylvania Regulated	143		126		410		335
Rhode Island Regulated	(26)		—		(55)		—
Corporate and Other	(96)		(76)		(223)		(848)
Discontinued Operations (a)	—		(2)		—		(1,490)
Total	$	174	$	207	$	566	$	(1,614)

(a)See Note 8 for additional information on the sale of the U.K. utility business.

The following provides Balance Sheet data for the segments and reconciliation to PPL's consolidated Balance Sheets as of:

	September 30, 2022		December 31, 2021
Assets
Kentucky Regulated	$	16,622	$	16,360
Pennsylvania Regulated	13,297		13,336
Rhode Island Regulated	6,002		—
Corporate and Other (a)	1,457		3,527
Total	$	37,378	$	33,223

(a)Primarily consists of unallocated items, including cash, PP&E, goodwill, the elimination of inter-segment transactions as well as the assets of Safari Energy.

(PPL Electric, LG&E and KU)

PPL Electric has two operating segments, distribution and transmission, which are aggregated into a single reportable segment. LG&E and KU are individually single operating and reportable segments.