Earnings Per Share

6 Months Ended

Jun. 30, 2021

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 share-based payment awards were converted to common shares as calculated using the Two-Class Method or Treasury Stock Method.

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

	Three Months				Six Months
	2021		2020		2021		2020
Income (Numerator)
Income (loss) from continuing operations after income taxes available to PPL common shareowners - Basic and Diluted	$	(536)	$	153	$	(333)	$	357
Income (loss) from discontinued operations (net of income taxes) available to PPL common shareowners - Basic and Diluted	$	555	$	191	$	(1,488)	$	541
Net income (loss) available to PPL common shareowners - Basic and Diluted	$	19	$	344	$	(1,821)	$	898
Shares of Common Stock (Denominator)
Weighted-average shares - Basic EPS	769,466		768,768		769,313		768,358
Add: Dilutive share-based payment awards (a)	—		640		—		715
Weighted-average shares - Diluted EPS	769,466		769,408		769,313		769,073
Basic and Diluted EPS
Available to PPL common shareowners:
Income from continuing operations after income taxes	$	(0.69)	$	0.20	$	(0.44)	$	0.47
Income (loss) from discontinued operations (net of income taxes)	0.72		0.25		(1.93)		0.70
Net Income (Loss) available to PPL common shareowners	$	0.03	$	0.45	$	(2.37)	$	1.17

(a)    All share-based payment awards were excluded from dilutive shares under the Treasury Stock Method for the three and six months ended June 30, 2021, as their effect would have been anti-dilutive due to the loss from continuing operations.

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

	Three Months		Six Months
	2021	2020	2021	2020
Stock-based compensation plans	137	9	657	607
DRIP	—	509	—	943

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
	2021	2020	2021	2020
Stock-based compensation awards	3,443	1,170	1,838	710