Segment and Related Information (Tables)

12 Months Ended

Dec. 31, 2020

Income Statement data for the segments and reconciliation to PPL's consolidated results for the years ended December 31 are as follows:


	2020		2019		2018
Operating Revenues from external customers (a)
U.K. Regulated	$	2,133	$	2,167	$	2,268
Kentucky Regulated	3,106		3,206		3,214
Pennsylvania Regulated	2,330		2,358		2,277
Corporate and Other	38		38		26
Total	$	7,607	$	7,769	$	7,785

Depreciation
U.K. Regulated	$	265	$	250	$	247
Kentucky Regulated	606		547		475
Pennsylvania Regulated	403		386		352
Corporate and Other	13		16		20
Total	$	1,287	$	1,199	$	1,094

Amortization (b)
U.K. Regulated	$	16	$	25	$	34
Kentucky Regulated	19		27		18
Pennsylvania Regulated	26		24		22
Corporate and Other	11		5		4
Total	$	72	$	81	$	78

Unrealized (gains) losses on derivatives and other hedging activities (c)
U.K. Regulated	$	271	$	62	$	(190)
Kentucky Regulated	5		6		6
Corporate and Other	4		5		(2)
Total	$	280	$	73	$	(186)

Interest Expense
U.K. Regulated	$	400	$	405	$	413
Kentucky Regulated	300		298		274
Pennsylvania Regulated	172		169		159
Corporate and Other	129		122		117
Total	$	1,001	$	994	$	963

Income Before Income Taxes
U.K. Regulated	$	958	$	1,169	$	1,339
Kentucky Regulated	516		530		531
Pennsylvania Regulated	664		607		567
Corporate and Other	(167)		(151)		(152)
Total	$	1,971	$	2,155	$	2,285


	2020		2019		2018

Income Taxes (d)
U.K. Regulated	$	272	$	192	$	225
Kentucky Regulated	98		94		120
Pennsylvania Regulated	167		149		136
Corporate and Other	(35)		(26)		(23)
Total	$	502	$	409	$	458

Deferred income taxes and investment tax credits (e)
U.K. Regulated	$	233	$	140	$	118
Kentucky Regulated	64		82		94
Pennsylvania Regulated	82		90		125
Corporate and Other	23		(3)		18
Total	$	402	$	309	$	355

Net Income
U.K. Regulated	$	686	$	977	$	1,114
Kentucky Regulated	418		436		411
Pennsylvania Regulated	497		458		431
Corporate and Other	(132)		(125)		(129)

Total	$	1,469	$	1,746	$	1,827

(a)See Note 1 and Note 3 for additional information on Operating Revenues.

(b)Represents non-cash expense items that include amortization of operating lease right-of-use assets, regulatory assets, debt discounts and premiums and debt issuance costs.

(c)Includes unrealized gains and losses from economic activity. See Note 18 for additional information.

(d)Represents both current and deferred income taxes, including investment tax credits. See Note 6 for additional information on the impact of the TCJA in 2018.

(e)Represents a non-cash expense item that is also included in "Income Taxes."

Cash Flow data for the segments and reconciliation to PPL's consolidated results for the years ended December 31 are as follows:


	2020		2019		2018
Expenditures for long-lived assets
U.K. Regulated	$	995	$	857	$	954
Kentucky Regulated	966		1,097		1,117
Pennsylvania Regulated	1,154		1,121		1,196
Corporate and Other	158		32		1
Total	$	3,273	$	3,107	$	3,268

The following provides Balance Sheet data for the segments and reconciliation to PPL's consolidated results as of:


	As of December 31,
	2020		2019
Total Assets
U.K. Regulated (a)	$	19,094	$	17,622
Kentucky Regulated	15,943		15,597
Pennsylvania Regulated	12,347		11,918
Corporate and Other (b)	732		543
Total	$	48,116	$	45,680

(a)Includes $14.4 billion and $13.2 billion of net PP&E as of December 31, 2020 and December 31, 2019. WPD is not subject to accounting for the effects of certain types of regulation as prescribed by GAAP.

(b)Primarily consists of unallocated items, including cash, PP&E, goodwill, the elimination of inter-segment transactions as well as the assets of Safari Energy.

Geographic Data

Geographic data for the years ended December 31 are as follows:


	2020		2019		2018
Revenues from external customers
U.K.	$	2,133	$	2,167	$	2,268
U.S.	5,474		5,602		5,517
Total	$	7,607	$	7,769	$	7,785

Long-lived Assets

Geographic data for the years ended December 31 are as follows:


	As of December 31,
	2020		2019
Long-Lived Assets
U.K.	$	14,805	$	13,618
U.S.	24,851		23,607
Total	$	39,656	$	37,225