Earnings Per Share

9 Months Ended

Sep. 30, 2023

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. The If-Converted Method will be applied to the Exchangeable Senior Notes due 2028 issued in February 2023. See Note 7 for additional information.

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
	2023		2022		2023		2022
Income (Numerator)






Net income attributable to PPL	$	230	$	174	$	627	$	566
Less amounts allocated to participating securities	—		—		1		—
Net income available to PPL common shareowners - Basic and Diluted	$	230	$	174	$	626	$	566

Shares of Common Stock (Denominator)
Weighted-average shares - Basic EPS	737,107		736,247		737,005		735,912

Add: Dilutive share-based payment awards	1,077		827		1,016		767

Weighted-average shares - Diluted EPS	738,184		737,074		738,021		736,679

Basic and Diluted EPS



Net Income available to PPL common shareowners	$	0.31	$	0.24	$	0.85	$	0.77

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
	2023	2022	2023	2022
Stock-based compensation plans	—	—	—	124

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
	2023	2022	2023	2022
Stock-based compensation awards	179	17	324	79