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Earnings Per Share | 9 Months Ended
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Sep. 30, 2025
Earnings Per Share [Abstract] |
Earnings Per Share | 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 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 is applied to the Exchangeable Senior Notes due 2028 (Exchangeable Notes) issued in February 2023. Incremental non-participating securities that have a dilutive impact are detailed in the table below. In 2025, these securities include forward sales of PPL common stock issued through an ATM Program and the number of shares needed to settle the conversion premium on the Exchangeable Notes. The forward sale agreements are dilutive under the Treasury Stock Method to the extent the average stock price of PPL's common shares exceeds the forward sale price prescribed in the agreements. See Note 7 for additional information on the ATM Program and Note 8 in PPL's Annual Report on Form 10-K for the year ended December 31, 2023 for additional information on the Exchangeable Notes. 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
| 2025 |  | 2024 |  | 2025 |  | 2024
Income (Numerator) |  |  |  |  |  |  |
Net income attributable to PPL | $ | 318 |  |  | $ | 214 |  |  | $ | 915 |  |  | $ | 711 |
Less amounts allocated to participating securities | — |  |  | 1 |  |  | 2 |  |  | 2 |
Net income available to PPL common shareowners - Basic and Diluted | $ | 318 |  |  | $ | 213 |  |  | $ | 913 |  |  | $ | 709 |
Shares of Common Stock (Denominator) |  |  |  |  |  |  |
Weighted-average shares - Basic EPS | 739,525 |  |  | 737,773 |  |  | 739,167 |  |  | 737,678 |
Add: Dilutive share-based payment awards (a) | 2,840 |  |  | 2,192 |  |  | 2,684 |  |  | 1,772 |
Add: Forward sale agreements | 263 |  |  | — |  |  | 95 |  |  | — |
Add: Exchangeable Notes | 1,662 |  |  | — |  |  | 801 |  |  | — |
Weighted-average shares - Diluted EPS | 744,290 |  |  | 739,965 |  |  | 742,747 |  |  | 739,450 |
Basic EPS |  |  |  |  |  |  |
Net Income available to PPL common shareowners | $ | 0.43 |  |  | $ | 0.29 |  |  | $ | 1.24 |  |  | $ | 0.96 |
Diluted EPS |  |  |  |  |  |  |
Net Income available to PPL common shareowners | $ | 0.43 |  |  | $ | 0.29 |  |  | $ | 1.23 |  |  | $ | 0.96 |
(a) The Treasury Stock Method was applied to non-participating share-based payment awards. For the periods ended September 30, PPL issued common stock related to the DRIP as follows (in thousands):
| Three Months |  | Nine Months
| 2025 |  | 2024 |  | 2025 |  | 2024
DRIP | 197 |  |  | 2 |  |  | 583 |  |  | 2 |
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
| 2025 |  | 2024 |  | 2025 |  | 2024
Stock-based compensation awards | 53 |  |  | — |  |  | 142 |  |  | — |
Forward sale agreements | 29,946 |  |  | — |  |  | 12,542 |  |  | — |

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