Earnings Per Share

9 Months Ended

Sep. 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 September 30 used in the EPS calculation are:

	Three Months				Nine Months
	2021		2020		2021		2020
Income (Numerator)
Income (loss) from continuing operations after income taxes available to PPL common shareowners - Basic and Diluted	$	209	$	117	$	(124)	$	474
Income (loss) from discontinued operations (net of income taxes) available to PPL common shareowners - Basic and Diluted	$	(2)	$	164	$	(1,490)	$	705
Net income (loss) available to PPL common shareowners - Basic and Diluted	$	207	$	281	$	(1,614)	$	1,179
Shares of Common Stock (Denominator)
Weighted-average shares - Basic EPS	767,733		768,786		768,781		768,502
Add: Dilutive share-based payment awards (a)	2,116		874		—		768
Weighted-average shares - Diluted EPS	769,849		769,660		768,781		769,270
Basic and Diluted EPS
Available to PPL common shareowners:
Income from continuing operations after income taxes	$	0.27	$	0.15	$	(0.16)	$	0.62
Income (loss) from discontinued operations (net of income taxes)	—		0.22		(1.94)		0.91
Net Income (Loss) available to PPL common shareowners	$	0.27	$	0.37	$	(2.10)	$	1.53

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

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
	2021	2020	2021	2020
Stock-based compensation plans	158	14	816	621
DRIP	—	—	—	943

See Note 8 for common stock repurchased under an authorized share repurchase program.

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
	2021	2020	2021	2020
Stock-based compensation awards	135	364	2,339	595