Earnings Per Share (PPL Corp [Member])

3 Months Ended

Mar. 31, 2012

PPL Corp [Member]

Earnings Per Share [Line Items]

Earnings Per Share

4. Earnings Per Share

(PPL)

Basic EPS is computed by dividing income available to PPL common shareowners by the weighted-average number of common shares outstanding during the period. Diluted EPS is computed by dividing income available to PPL common shareowners by the weighted-average number of shares outstanding that are increased for additional shares that would be outstanding if potentially dilutive non-participating securities were converted to common shares as calculated using the treasury stock method. In 2012 and 2011, these securities included stock options and performance units granted under incentive compensation plans. Additionally, the Purchase Contracts associated with the Equity Units will be dilutive under the treasury stock method if the average VWAP of PPL's common stock for a certain period exceeds approximately $30.99 and $28.80, for the 2011 and 2010 Purchase Contracts. The Purchase Contracts were excluded from the diluted EPS calculations for 2012 because they did not meet this criteria during the first quarter of 2012.The 2010 Purchase Contracts were excluded from the diluted EPS calculation for 2011 because they did not meet this criteria during the first quarter of 2011.Subject to antidilution adjustments at March 31, 2012, the maximum number of shares issuable to settle the Purchase Contracts was 99,743,870 shares, including 86,552,565 shares that could be issued under standard provisions of the Purchase Contracts and 13,191,305 shares that could be issued under make-whole provisions in the event of early settlement upon a Fundamental Change. In April 2012, PPL entered into forward sale agreements for PPL common stock. See Note 7 for additionalinformation.

Reconciliations of the amounts of income and shares of PPL common stock (in thousands) for the three months ended March 31used in the EPS calculation are:

		2012		2011
Income (Numerator)
Income from continuing operations after income taxes attributable to PPL		$	541	$	398
Less amounts allocated to participating securities			3		2
Income from continuing operations after income taxes available to PPL common shareowners		$	538	$	396
Income (loss) from discontinued operations (net of income taxes) available to PPL		$		$	3
Net income attributable to PPL		$	541	$	401
Less amounts allocated to participating securities			3		2
Net income available to PPL common shareowners		$	538	$	399
Shares of Common Stock (Denominator)
Weighted-average shares - Basic EPS			579,041		484,138
Add incremental non-participating securities:
	Stock options and performance units		486		207
Weighted-average shares - Diluted EPS			579,527		484,345
Basic EPS
Available to PPL common shareowners:
	Income from continuing operations after income taxes	$	0.93	$	0.82
	Net Income	$	0.93	$	0.82
Diluted EPS
Available to PPL common shareowners:
	Income from continuing operations after income taxes	$	0.93	$	0.82
	Net Income	$	0.93	$	0.82

During the three months ended March 31, 2012, PPL issued 276,582 shares of common stock related to the exercise of stock options, vesting of restricted stock and restricted stock units and conversion of stock units granted to directors under its stock-based compensation plans. In addition, PPL issued 279,945 and 558,019 shares of common stock related to its ESOP and DRIP.

For the three months ended March 31, the following stock options to purchase PPL common stock and performance units were excluded from the computations of diluted EPS because the effect would have been antidilutive.

(Shares in thousands)	2012		2011
Stock options		5,682		6,614
Performance units		195		6