Earnings Per Share (Tables)

9 Months Ended

Sep. 30, 2013

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

			Three Months				Nine Months
			2013		2012		2013		2012
Income (Numerator)
Income from continuing operations after income taxes attributable to PPL
	shareowners		$	409	$	355	$	1,226	$	1,173
Less amounts allocated to participating securities				2		2		6		7
Income from continuing operations after income taxes available to PPL
	common shareowners - Basic			407		353		1,220		1,166
Plus interest charges (net of tax) related to Equity Units				7				37
Income from continuing operations after income taxes available to PPL
	common shareowners - Diluted		$	414	$	353	$	1,257	$	1,166

Income (loss) from discontinued operations (net of income taxes) available
	to PPL common shareowners - Basic and Diluted		$	1	$		$	2	$	(6)

Net income attributable to PPL shareowners			$	410	$	355	$	1,228	$	1,167
Less amounts allocated to participating securities				2		2		6		7
Net income available to PPL common shareowners - Basic				408		353		1,222		1,160
Plus interest charges (net of tax) related to Equity Units				7				37
Net income available to PPL common shareowners - Diluted			$	415	$	353	$	1,259	$	1,160

Shares of Common Stock (Denominator)
Weighted-average shares - Basic EPS				631,046		580,585		601,275		579,847
Add incremental non-participating securities:
		Share-based payment awards		1,163		635		1,035		522
		Equity Units		32,134		439		59,171		146
		Forward sale agreements				977		613		415
Weighted-average shares - Diluted EPS				664,343		582,636		662,094		580,930

Basic EPS
Available to PPL common shareowners:
		Income from continuing operations after income taxes	$	0.65	$	0.61	$	2.03	$	2.01
		Income (loss) from discontinued operations (net of income taxes)								(0.01)
		Net Income	$	0.65	$	0.61	$	2.03	$	2.00

Diluted EPS
Available to PPL common shareowners:
		Income from continuing operations after income taxes	$	0.62	$	0.61	$	1.90	$	2.01
		Income (loss) from discontinued operations (net of income taxes)								(0.01)
		Net Income	$	0.62	$	0.61	$	1.90	$	2.00

Common Stock Issuances

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

(Shares in thousands)	Three Months				Nine Months
	2013		2012		2013		2012

Stock-based compensation plans (a)		85		159		1,469		512
ESOP						275		280
DRIP				598		549		1,773

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

Antidilutive Securities Excluded From Diluted EPS

See Note 7 for information on the repurchase of shares of PPL common stock that offset the 2013 issuances of common stock under stock-based compensation plans, ESOP and DRIP.

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

	Three Months				Nine Months
(Shares in thousands)	2013		2012		2013		2012

Stock options		1,136		4,935		4,793		5,622
Performance units		1				73		76
Restricted stock units						39