Segment and Related Information (Tables)

12 Months Ended

Dec. 31, 2022

Segment Reporting [Abstract]

Segment and Related Information

Income Statement data for the segments and reconciliation to PPL's consolidated results for the years ended December 31 are as follows:

	2022		2021		2020
Operating Revenues from external customers (a)
Kentucky Regulated	$	3,811	$	3,348	$	3,106
Pennsylvania Regulated	3,030		2,402		2,330
Rhode Island Regulated	1,038		—		—
Corporate and Other	23		33		38
Total	$	7,902	$	5,783	$	5,474
Depreciation
Kentucky Regulated	$	685	$	647	$	606
Pennsylvania Regulated	393		424		403
Rhode Island Regulated	92		—		—
Corporate and Other	11		11		13
Total	$	1,181	$	1,082	$	1,022
Amortization (b)
Kentucky Regulated	$	23	$	15	$	19
Pennsylvania Regulated	22		19		26
Rhode Island Regulated	2		—		—
Corporate and Other	5		5		13
Total	$	52	$	39	$	58

	2022		2021		2020
Interest Expense (c)
Kentucky Regulated	$	262	$	249	$	300
Pennsylvania Regulated	171		162		172
Rhode Island Regulated	39		—		—
Corporate and Other (d)	41		507		162
Total	$	513	$	918	$	634
Income Before Income Taxes
Kentucky Regulated	$	621	$	562	$	516
Pennsylvania Regulated	699		599		664
Rhode Island Regulated	(58)		—		—
Corporate and Other	(347)		(640)		(226)
Total	$	915	$	521	$	954
Income Taxes (e)
Kentucky Regulated	$	114	$	94	$	98
Pennsylvania Regulated	174		154		167
Rhode Island Regulated	(14)		—		—
Corporate and Other	(73)		255		49
Total	$	201	$	503	$	314
Deferred income taxes and investment tax credits (f)
Kentucky Regulated	$	6	$	272	$	64
Pennsylvania Regulated	91		79		82
Rhode Island Regulated	39		—		—
Corporate and Other	43		(264)		23
Total	$	179	$	87	$	169
Net Income
Kentucky Regulated	$	507	$	468	$	418
Pennsylvania Regulated	525		445		497
Rhode Island Regulated	(44)		—		—
Corporate and Other (d)	(274)		(895)		(275)
Discontinued Operations	42		(1,498)		829
Total	$	756	$	(1,480)	$	1,469

(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 year ended December 31, 2020, corporate level financing costs of $32 million, net of $8 million of income taxes, were allocated to the Kentucky Regulated segment. For the year ended December 31, 2020, an immaterial amount of financing costs was 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:

	2022		2021		2020
Expenditures for long-lived assets
Kentucky Regulated	$	917	$	1,026	$	966
Pennsylvania Regulated	889		904		1,154
Rhode Island Regulated	268		—		—
Corporate and Other	84		49		158
Total	$	2,158	$	1,979	$	2,278

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

	As of December 31,
	2022		2021
Total Assets
Kentucky Regulated	$	16,904	$	16,360
Pennsylvania Regulated	13,565		13,336
Rhode Island Regulated	6,081		—
Corporate and Other (a)	1,287		3,527
Total	$	37,837	$	33,223

(a)Primarily consists of unallocated items, including cash, PP&E, goodwill, and the elimination of inter-segment transactions.