Earnings Per Share

6 Months Ended

Jun. 30, 2013

Earnings Per Share [Abstract]

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 applicable period. Diluted EPS is computed by dividing income available to PPL common shareowners by the weighted-average number of common shares outstanding, increased by incremental shares that would be outstanding if potentially dilutive non-participating securities were converted to common shares as calculated using the treasury stock method or the If-Converted Method, as applicable. The If-Converted Method was applied to the Equity Units beginning in the first quarter of 2013. Incremental non-participating securities that have a dilutive impact are detailed in the table below.

See Note 7 for information on the April and May 2013 settlements of forward sale agreements and the July 2013 issuance of PPL common stock to settle the 2010 Purchase Contracts.

Reconciliations of the amounts of income and shares of PPL common stock (in thousands) for theperiods ended June 30 used in the EPS calculation are:

			Three Months				Six Months
			2013		2012		2013		2012
Income (Numerator)
Income from continuing operations after income taxes attributable to PPL
	shareowners		$	404	$	277	$	817	$	818
Less amounts allocated to participating securities				2		2		4		5
Income from continuing operations after income taxes available to PPL
	common shareowners - Basic			402		275		813		813
Plus interest charges (net of tax) related to Equity Units				15				30
Income from continuing operations after income taxes available to PPL
	common shareowners - Diluted		$	417	$	275	$	843	$	813
Income (loss) from discontinued operations (net of income taxes) available
	to PPL common shareowners - Basic and Diluted		$	1	$	(6)	$	1	$	(6)
Net income attributable to PPL shareowners			$	405	$	271	$	818	$	812
Less amounts allocated to participating securities				2		2		4		5
Net income available to PPL common shareowners - Basic				403		269		814		807
Plus interest charges (net of tax) related to Equity Units				15				30
Net income available to PPL common shareowners - Diluted			$	418	$	269	$	844	$	807
Shares of Common Stock (Denominator)
Weighted-average shares - Basic EPS				589,834		579,881		586,683		579,462
Add incremental non-participating securities:
		Share-based payment awards		1,133		444		971		465
		Equity Units		73,388				72,689
		Forward sale agreements		260		268		920		135
Weighted-average shares - Diluted EPS				664,615		580,593		661,263		580,062
Basic EPS
Available to PPL common shareowners:
		Income from continuing operations after income taxes	$	0.68	$	0.47	$	1.39	$	1.40
		Income (loss) from discontinued operations (net of income taxes)				(0.01)				(0.01)
		Net Income	$	0.68	$	0.46	$	1.39	$	1.39
Diluted EPS
Available to PPL common shareowners:
		Income from continuing operations after income taxes	$	0.63	$	0.47	$	1.28	$	1.40
		Income (loss) from discontinued operations (net of income taxes)				(0.01)				(0.01)
		Net Income	$	0.63	$	0.46	$	1.28	$	1.39

For the periods ended June 30,PPL issued common stock related to stock-based compensation plans, ESOP and DRIP as follows:

(Shares in thousands)	Three Months				Six Months
	2013		2012		2013		2012
Stock-based compensation plans (a)		938		76		1,384		353
ESOP						275		280
DRIP				617		549		1,175

(a)Includes stock options exercised, vesting of restricted stock and restricted stock units and conversion of stock units granted to directors.

See Note 7 for information on the repurchase of shares of PPL common stock thatsubstantially offset the issuances for the three months ended June 30, 2013.

For the periods ended June 30, the following were excluded from the computations of diluted EPS because the effect would have been antidilutive.

	Three Months				Six Months
(Shares in thousands)	2013		2012		2013		2012
Stock options		2,192		6,250		5,486		5,966
Performance units		5		34		108		115
Restricted stock units						58