Earnings Per Share

12 Months Ended

Dec. 31, 2021

Earnings Per Share [Abstract]

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 non-participating securities were converted to common shares as calculated using the Treasury Stock Method. Incremental non-participating securities that have a dilutive impact are detailed in the table below.

These securities also included the remaining shares of PPL common stock forward sale agreements, which were settled in 2019. The forward sale agreements were dilutive under the Treasury Stock Method to the extent the average stock price of PPL's common shares exceeded the forward sale price prescribed in the agreements.

Reconciliations of the amounts of income and shares of PPL common stock (in thousands) for the periods ended December 31, used in the EPS calculation are:

	2021		2020		2019
Income (Numerator)
Income from continuing operations after income taxes	$	18	$	640	$	736
Less amounts allocated to participating securities	—		1		1
Income from continuing operations after income taxes available to PPL common shareowners - Basic and Diluted	$	18	$	639	$	735
Income (loss) from discontinued operations (net of income taxes) available to PPL common shareowners - Basic and Diluted	$	(1,498)	$	829	$	1,010
Net income (loss) attributable to PPL	$	(1,480)	$	1,469	1,746
Less amounts allocated to participating securities	—		1		1
Net income (loss) available to PPL common shareowners - Basic and Diluted	$	(1,480)	$	1,468	$	1,745
Shares of Common Stock (Denominator)
Weighted-average shares - Basic EPS	762,902		768,590		728,512
Add incremental non-participating securities:
Add: Dilutive share-based payment awards (a)	1,917		794		1,101
Add: Forward sale agreements	—		—		7,141
Weighted-average shares - Diluted EPS	764,819		769,384		736,754
Basic EPS
Available to PPL common shareowners:
Income from continuing operations after income taxes	$	0.03	$	0.83	$	1.01
Income (loss) from discontinued operations (net of income taxes)	(1.96)		1.08		1.38
Net Income (Loss) available to PPL common shareowners	$	(1.93)	$	1.91	$	2.39
Diluted EPS
Available to PPL common shareowners:
Income from continuing operations after income taxes	$	0.03	$	0.83	$	1.00
Income (loss) from discontinued operations (net of income taxes)	(1.96)		1.08		1.37
Net Income (Loss) available to PPL common shareowners	$	(1.93)	$	1.91	$	2.37

(a)The Treasury Stock Method was applied to non-participating share-based payment awards.

For the years ended December 31, PPL issued common stock related to stock-based compensation plans and DRIP as follows (in thousands):

	2021	2020
Stock-based compensation plans (a)	983	731
DRIP	—	943

(a)Includes stock options exercised, vesting of performance units, vesting of restricted stock and restricted stock units and conversion of stock units granted to directors.

For the years ended December 31, the following shares (in thousands) were excluded from the computations of diluted EPS because the effect would have been antidilutive:

	2021	2020	2019
Stock-based compensation awards	1,783	452	8