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Segment and Related Information
 12 Months Ended
Dec. 31, 2021
Segment Reporting [Abstract]  
Segment and Related Information
(PPL)

PPL is organized into two segments: Kentucky Regulated and Pennsylvania Regulated. PPL's segments are segmented by geographic location.

The Kentucky Regulated segment consists primarily of LG&E's and KU's regulated electricity generation, transmission and distribution operations, as well as LG&E's regulated distribution and sale of natural gas.

The Pennsylvania Regulated segment includes the regulated electricity transmission and distribution operations of PPL Electric.

"Corporate and Other" primarily includes financing costs incurred at the corporate level that have not been allocated or assigned to the segments, certain other unallocated costs, as well as the financial results of Safari Energy, which is presented to reconcile segment information to PPL's consolidated results. For the periods ended December 31, 2020 and 2019, these amounts have been adjusted for certain costs that were previously included in the U.K. Regulated segment.

On March 17, 2021, PPL WPD Limited entered into a share purchase agreement to sell PPL's U.K. utility business, which substantially represented PPL's U.K. Regulated segment. As a result, PPL determined segment information for the U.K. Regulated segment would no longer be provided beginning with the March 31, 2021 Form 10-Q. The sale of the U.K. utility business was completed on June 14, 2021. See Note 9 for additional information.

Income Statement data for the segments and reconciliation to PPL's consolidated results for the years ended December 31 are as follows:
202120202019
Operating Revenues from external customers (a)   
Kentucky Regulated$3,348 $3,106 $3,206 
Pennsylvania Regulated2,402 2,330 2,358 
Corporate and Other33 38 38 
Total$5,783 $5,474 $5,602 
202120202019
Depreciation   
Kentucky Regulated$647 $606 $547 
Pennsylvania Regulated424 403 386 
Corporate and Other11 13 16 
Total$1,082 $1,022 $949 
Amortization (b)   
Kentucky Regulated$15 $19 $27 
Pennsylvania Regulated19 26 24 
Corporate and Other5 13 7 
Total$39 $58 $58 
Interest Expense (c)   
Kentucky Regulated$249 $300 $298 
Pennsylvania Regulated162 172 169 
Corporate and Other (d)507 162 154 
Total$918 $634 $621 
Income Before Income Taxes   
Kentucky Regulated$562 $516 $530 
Pennsylvania Regulated599 664 607 
Corporate and Other(640)(226)(218)
Total$521 $954 $919 
Income Taxes (e)   
Kentucky Regulated$94 $98 $94 
Pennsylvania Regulated154 167 149 
Corporate and Other255 49 (60)
Total$503 $314 $183 
Deferred income taxes and investment tax credits (f)   
Kentucky Regulated$272 $64 $82 
Pennsylvania Regulated79 82 90 
Corporate and Other(264)23 (3)
Total$87 $169 $169 
Net Income   
Kentucky Regulated$468 $418 $436 
Pennsylvania Regulated445 497 458 
Corporate and Other (d)(895)(275)(158)
Discontinued Operations(1,498)829 1,010 
Total$(1,480)$1,469 $1,746 

(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 and liabilities, debt discounts and premiums and debt issuance costs.
(c)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 years ended December 31, 2020 and 2019, corporate level financing costs of $32 million, net of $8 million of income taxes, and $32 million, net of $9 million of income taxes, were allocated to the Kentucky Regulated segment. For the years ended December 31, 2020 and 2019, an immaterial amount of financing costs were allocated to the Pennsylvania Regulated segment.
(d)2021 includes losses from the extinguishment of PPL Capital Funding debt. See Note 8 for additional information.
(e)Represents both current and deferred income taxes, including investment tax credits.
(f)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:
202120202019
Expenditures for long-lived assets   
Kentucky Regulated$1,026 $966 $1,097 
Pennsylvania Regulated904 1,154 1,121 
Corporate and Other49 158 32 
Total$1,979 $2,278 $2,250 

The following provides Balance Sheet data for the segments and reconciliation to PPL's consolidated results as of:
 As of December 31,
20212020
Total Assets  
Kentucky Regulated$16,360 $15,943 
Pennsylvania Regulated13,336 12,347 
Corporate and Other (a)3,527 843 
Assets held for sale (b)— 18,983 
Total$33,223 $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, LG&E and KU)

PPL Electric has two operating segments that are aggregated into a single reportable segment. LG&E and KU are individually single operating and reportable segments.