Segment and Related Information (Tables)

6 Months Ended

Jun. 30, 2021

Segment Reporting [Abstract]

Segment and Related Information

Income Statement data for the segments and reconciliation to PPL's consolidated results for the periods ended June 30 are as follows:

	Three Months				Six Months
	2021		2020		2021		2020
Operating Revenues from external customers
Kentucky Regulated	$	741	$	700	$	1,626	$	1,525
Pennsylvania Regulated	537		554		1,142		1,162
Corporate and Other	10		9		18		16
Total	$	1,288	$	1,263	$	2,786	$	2,703
Net Income
Kentucky Regulated (a)	$	84	$	74	$	230	$	201
Pennsylvania Regulated (a)	96		118		209		236
Corporate and Other (a)(c)(d)	(716)		(39)		(772)		(80)
Discontinued Operations (b)	555		191		(1,488)		541
Total	$	19	$	344	$	(1,821)	$	898

(a)Beginning in 2021, corporate level financing costs are no longer allocated to the reportable segments and are being reported in Corporate and Other. For the three and six months ended June 30, 2020, corporate level financing costs of $10 million, net of $2 million of income taxes, and $21 million, net of $4 million of income taxes were allocated to the Kentucky Regulated segment. For the three and six months ended June 30, 2020, an immaterial amount of financing costs were allocated to the Pennsylvania Regulated segment.

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

(c)2021 includes losses from the extinguishment of PPL Capital Funding debt. See Note 8 for additional information.

(d)The amounts for the periods ended June 30, 2020 have been adjusted for certain costs that were previously included in the U.K. Regulated segment.

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

	June 30, 2021		December 31, 2020
Assets
Kentucky Regulated	$	16,282	$	15,943
Pennsylvania Regulated	13,814		12,347
Corporate and Other (a)	6,663		843
Assets Held for Sale (b)	—		18,983
Total	$	36,759	$	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.