Earnings Per Share

6 Months Ended

Jun. 30, 2014

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. Incremental non-participating securities that have a dilutive impact are detailed in the table below.

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

			Three Months				Six Months
			2014		2013		2014		2013
Income (Numerator)
Income from continuing operations after income taxes attributable to PPL
	shareowners		$	229	$	404	$	545	$	817
Less amounts allocated to participating securities				1		2		3		4
Income from continuing operations after income taxes available to PPL
	common shareowners - Basic			228		402		542		813
Plus interest charges (net of tax) related to Equity Units (a)						15		9		30
Income from continuing operations after income taxes available to PPL
	common shareowners - Diluted		$	228	$	417	$	551	$	843
Income (loss) from discontinued operations (net of income taxes) available
	to PPL common shareowners - Basic and Diluted		$		$	1	$		$	1
Net income attributable to PPL shareowners			$	229	$	405	$	545	$	818
Less amounts allocated to participating securities				1		2		3		4
Net income available to PPL common shareowners - Basic				228		403		542		814
Plus interest charges (net of tax) related to Equity Units (a)						15		9		30
Net income available to PPL common shareowners - Diluted			$	228	$	418	$	551	$	844
Shares of Common Stock (Denominator)
Weighted-average shares - Basic EPS				653,132		589,834		642,002		586,683
Add incremental non-participating securities:
		Share-based payment awards		2,100		1,133		1,806		971
		Equity Units (a)		10,560		73,388		21,119		72,689
		Forward sale agreements				260				920
Weighted-average shares - Diluted EPS				665,792		664,615		664,927		661,263
Basic EPS
		Net Income Available to PPL common shareowners	$	0.35	$	0.68	$	0.84	$	1.39
Diluted EPS
		Net Income Available to PPL common shareowners	$	0.34	$	0.63	$	0.83	$	1.28

(a)The If-Converted Method wasapplied to the Equity Units prior to settlement.See Note 7 for additional information on the 2011 Equity Units, including the issuance of PPL common stock on May 1, 2014 to settle the 2011 Purchase Contracts.

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

	Three Months				Six Months
	2014		2013		2014		2013
Stock-based compensation plans (a)		922		938		2,018		1,384
ESOP								275
DRIP								549

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

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

	Three Months				Six Months
	2014		2013		2014		2013
Stock options		790		2,192		2,060		5,486
Performance units		1		5		1		108
Restricted stock units						61		58