Earnings Per Share

3 Months Ended

Mar. 31, 2015

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 the period ended March 31 used in the EPS calculation are:

		Three Months
		2015		2014
Income (Numerator)
Income from continuing operations after income taxes		$	647	$	324
Less amounts allocated to participating securities			3		2
Income from continuing operations after income taxes available to PPL common shareowners - Basic			644		322
Plus interest charges (net of tax) related to Equity Units (a)					9
Income from continuing operations after income taxes available to PPL common shareowners - Diluted		$	644	$	331
Income (loss) from discontinued operations (net of income taxes) available to PPL common shareowners - Basic
and Diluted		$		$	(8)
Net income		$	647	$	316
Less amounts allocated to participating securities			3		2
Net income available to PPL common shareowners - Basic			644		314
Plus interest charges (net of tax) related to Equity Units (a)					9
Net income available to PPL common shareowners - Diluted		$	644	$	323
Shares of Common Stock (Denominator)
Weighted-average shares - Basic EPS			666,974		630,749
Add incremental non-participating securities:
	Share-based payment awards		1,758		1,511
	Equity Units (a)				31,679
Weighted-average shares - Diluted EPS			668,732		663,939
Basic EPS
Available to PPL common shareowners:
	Income from continuing operations after income taxes	$	0.97	$	0.51
	Income (loss) from discontinued operations (net of income taxes)				(0.01)
	Net Income Available to PPL common shareowners	$	0.97	$	0.50
Diluted EPS
Available to PPL common shareowners:
	Income from continuing operations after income taxes	$	0.96	$	0.50
	Income (loss) from discontinued operations (net of income taxes)				(0.01)
	Net Income Available to PPL common shareowners	$	0.96	$	0.49

(a)In 2014, the If-Converted Method was applied to the Equity Units prior to the March 2014 settlement.

For the periods ended March 31, PPL issued common stock related to stock-based compensation plans as follows (in thousands):

	Three Months
	2015		2014
Stock-based compensation plans (a)		1,445		1,096
DRIP		419

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

For the periods ended March 31, the following shares (in thousands) were excluded from the computations of diluted EPS because the effect would have been antidilutive.

	Three Months
	2015		2014
Stock options		1,473		2,540
Performance units		146
Restricted stock units				123