Earnings Per Share

9 Months Ended

Sep. 30, 2022

Earnings Per Share [Abstract]

Earnings Per Share

4. 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
	2022		2021		2022		2021
Income (Numerator)
Income (Loss) from continuing operations after income taxes available to PPL common shareowners - Basic and Diluted	$	174	$	209	$	566	$	(124)
Income (Loss) from discontinued operations (net of income taxes) available to PPL common shareowners - Basic and Diluted	$	—	$	(2)	$	—	$	(1,490)
Net income (loss) available to PPL common shareowners - Basic and Diluted	$	174	$	207	$	566	$	(1,614)
Shares of Common Stock (Denominator)
Weighted-average shares - Basic EPS	736,247		767,733		735,912		768,781
Add: Dilutive share-based payment awards	827		2,116		767		—
Weighted-average shares - Diluted EPS	737,074		769,849		736,679		768,781
Basic and Diluted EPS
Available to PPL common shareowners:
Income (Loss) from continuing operations after income taxes	$	0.24	$	0.27	$	0.77	$	(0.16)
Loss from discontinued operations (net of income taxes)	—		—		—		(1.94)
Net Income (Loss) available to PPL common shareowners	$	0.24	$	0.27	$	0.77	$	(2.10)

For the periods ended September 30, PPL issued shares of common stock related to stock-based compensation plans as follows (in thousands):

	Three Months		Nine Months
	2022	2021	2022	2021
Stock-based compensation plans	—	158	124	816

See Note 7 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
	2022	2021	2022	2021
Stock-based compensation awards	17	135	79	2,339