Earnings Per Share (Tables)

9 Months Ended

Sep. 30, 2012

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
			2012		2011		2012		2011
Income (Numerator)
Income from continuing operations after income taxes attributable to PPL
	shareowners		$	355	$	444	$	1,173	$	1,039
Less amounts allocated to participating securities				2		2		7		4
Income from continuing operations after income taxes available to PPL
	common shareowners		$	353	$	442	$	1,166	$	1,035

Income (loss) from discontinued operations (net of income taxes) available
	to PPL common shareowners		$		$		$	(6)	$	2

Net income attributable to PPL shareowners			$	355	$	444	$	1,167	$	1,041
Less amounts allocated to participating securities				2		2		7		4
Net income available to PPL common shareowners			$	353	$	442	$	1,160	$	1,037

Shares of Common Stock (Denominator)
Weighted-average shares - Basic EPS				580,585		577,595		579,847		541,135
Add incremental non-participating securities:
		Stock options and performance units		635		459		522		345
		2010 Purchase Contracts		439				146
		Forward sale agreements		977				415
Weighted-average shares - Diluted EPS				582,636		578,054		580,930		541,480

Basic EPS
Available to PPL common shareowners:
		Income from continuing operations after income taxes	$	0.61	$	0.76	$	2.01	$	1.91
		Income (loss) from discontinued operations (net of income taxes)						(0.01)		0.01
		Net Income	$	0.61	$	0.76	$	2.00	$	1.92

Diluted EPS
Available to PPL common shareowners:
		Income from continuing operations after income taxes	$	0.61	$	0.76	$	2.01	$	1.91
		Income (loss) from discontinued operations (net of income taxes)						(0.01)
		Net Income	$	0.61	$	0.76	$	2.00	$	1.91

Common Stock Issuances

For the periods ended September 30, 2012, PPL issued common stock related to stock-based compensation plans, ESOP and DRIP as follows:

(Shares in thousands)	Three Months		Nine Months

Stock-based compensation plans (a)		159		512
ESOP				280
DRIP		598		1,773

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

Antidilutive Securities Excluded From Diluted EPS

For the periods ended September 30, the following options to purchase PPL common stock and performance units were excluded from the computations of diluted EPS because the effect would have been antidilutive.

	Three Months				Nine Months
(Shares in thousands)	2012		2011		2012		2011

Stock options		4,935		4,473		5,622		5,377
Performance units				3		76		3