Earnings Per Share

12 Months Ended

Dec. 31, 2023

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 the number of 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 8 for additional information. Incremental non-participating securities that have a dilutive impact are detailed in the table below.

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:

	2023		2022		2021
Income (Numerator)
Income from continuing operations after income taxes	$	740	$	714	$	18
Less amounts allocated to participating securities	1		1		—
Income from continuing operations after income taxes available to PPL common shareowners - Basic and Diluted	$	739	$	713	$	18
Income (loss) from discontinued operations (net of income taxes) available to PPL common shareowners - Basic and Diluted	$	—	$	42	$	(1,498)
Net income (loss) attributable to PPL	$	740	$	756	(1,480)
Less amounts allocated to participating securities	1		1		—
Net income (loss) available to PPL common shareowners - Basic and Diluted	$	739	$	755	$	(1,480)
Shares of Common Stock (Denominator)
Weighted-average shares - Basic EPS	737,036		736,027		762,902
Add: Dilutive share-based payment awards (a)	1,130		875		1,917
Weighted-average shares - Diluted EPS	738,166		736,902		764,819
Basic EPS
Available to PPL common shareowners:
Income from continuing operations after income taxes	$	1.00	$	0.97	$	0.03
Income (loss) from discontinued operations (net of income taxes)	—		0.06		(1.96)
Net Income (Loss) available to PPL common shareowners	$	1.00	$	1.03	$	(1.93)
Diluted EPS
Available to PPL common shareowners:
Income from continuing operations after income taxes	$	1.00	$	0.96	$	0.03
Income (loss) from discontinued operations (net of income taxes)	—		0.06		(1.96)
Net Income (Loss) available to PPL common shareowners	$	1.00	$	1.02	$	(1.93)

(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 as follows (in thousands):

	2023	2022
Stock-based compensation plans (a)	—	124

(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:

	2023	2022	2021
Stock-based compensation awards	243	93	1,783