Earnings Per Share

9 Months Ended

Sep. 30, 2020

Earnings Per Share [Abstract]

Earnings Per Share

5. 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. Incremental non-participating securities that have a dilutive impact are detailed in the table below. These dilutive securities include the PPL common stock forward sale agreements, which were settled in 2019. The forward sale

agreements were dilutive under the Treasury Stock Method to the extent the average stock price of PPL's common shares exceeded the forward sale price prescribed in the agreements.

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
	2020		2019		2020		2019
Income (Numerator)
Net income	$	281	$	475	$	1,179	$	1,382
Less amounts allocated to participating securities	—		—		1		2
Net income available to PPL common shareowners - Basic and Diluted	$	281	$	475	$	1,178	$	1,380
Shares of Common Stock (Denominator)
Weighted-average shares - Basic EPS	768,786		722,259		768,502		721,693
Add incremental non-participating securities:
Share-based payment awards	874		1,106		768		1,009
Forward sale agreements	—		7,786		—		7,975
Weighted-average shares - Diluted EPS	769,660		731,151		769,270		730,677
Basic EPS
Net Income available to PPL common shareowners	$	0.37	$	0.66	$	1.53	$	1.91
Diluted EPS
Net Income available to PPL common shareowners	$	0.37	$	0.65	$	1.53	$	1.89

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

	Three Months		Nine Months
	2020	2019	2020	2019
Stock-based compensation plans	14	38	621	680
DRIP	—	430	943	1,305

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

	Three Months		Nine Months
	2020	2019	2020	2019
Stock-based compensation awards	364	—	595	—