Earnings Per Share

3 Months Ended

Mar. 31, 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 is 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 March 31 used in the EPS calculation are:


	Three Months
		2023		2022
Income (Numerator)






Net income attributable to PPL		$	285	$	273
Less amounts allocated to participating securities		1		—
Net income available to PPL common shareowners - Basic and Diluted		$	284	$	273

Shares of Common Stock (Denominator)
Weighted-average shares - Basic EPS		736,829		735,503

Add: Dilutive share-based payment awards		869		681

Weighted-average shares - Diluted EPS		737,698		736,184

Basic and Diluted EPS
Available to PPL common shareowners:


Net Income available to PPL common shareowners		$	0.39	$	0.37

For the periods ended March 31, PPL issued shares of common stock related to stock-based compensation plans as follows (in thousands):


	Three Months
		2023	2022
Stock-based compensation plans		—	124

For the periods ended March 31, the following shares (in thousands) were excluded from the computations of diluted EPS because the effect would have been antidilutive.


	Three Months
		2023	2022
Stock-based compensation awards		534	154