Segment and Related Information

3 Months Ended

Mar. 31, 2021

Segment Reporting [Abstract]

Segment and Related Information

3. Segment and Related Information

(PPL)

See Note 2 in PPL's 2020 Form 10-K for a discussion of reportable segments and related information.

On March 17, 2021, PPL WPD Limited entered into a share purchase agreement to sell PPL's U.K. utility business, which substantially represents PPL's U.K. Regulated segment. As a result of this strategic shift in the operations of the business, PPL will no longer provide segment information for the U.K. Regulated segment. See Note 9 for additional information.

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

	Three Months
	2021		2020
Operating Revenues from external customers
Kentucky Regulated	$	885	$	825
Pennsylvania Regulated	605		608
Corporate and Other	8		7
Total	$	1,498	$	1,440
Net Income
Kentucky Regulated (a)	$	146	$	127
Pennsylvania Regulated (a)	113		118
Corporate and Other (a)	(56)		(41)
Discontinued Operations (b)	(2,043)		350
Total	$	(1,840)	$	554

(a)For the period ended March 31, 2020, corporate level financing costs of $8 million, net of $2 million of income taxes, and an immaterial amount were allocated to the Kentucky Regulated and Pennsylvania Regulated segments. Beginning in 2021, corporate level financing costs will no longer be allocated to the reportable segments and are being reported in Corporate and Other.

(b)Includes unrealized gains and losses from hedging foreign currency economic activity. See Note 9 for additional information.

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

	March 31, 2021		December 31, 2020
Assets
Kentucky Regulated	$	15,904	$	15,943
Pennsylvania Regulated	12,585		12,347
Corporate and Other (a)	867		843
Assets Held for Sale (b)	18,425		18,983
Total	$	47,781	$	48,116

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

(b)See Note 9 for additional information.

(PPL Electric, LKE, LG&E and KU)

PPL Electric has two operating segments, distribution and transmission, which are aggregated into a single reportable segment. LKE, LG&E and KU are individually single operating and reportable segments.