XML 79 R15.htm IDEA: XBRL DOCUMENT v3.25.4
Earnings Per Share
 12 Months Ended
Dec. 31, 2025
Earnings Per Share [Abstract]  
Earnings Per Share
5. 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 and 2030 (Exchangeable Notes) issued in February 2023 and November 2025.

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 8 for additional information on the ATM Program and the Exchangeable Senior Notes due 2030 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 due 2028.
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:
 202520242023
Income (Numerator)   
Net income$1,181 $888 $740 
Less amounts allocated to participating securities2 2 1 
Net income available to PPL common shareowners - Basic and Diluted$1,179 $886 $739 
Shares of Common Stock (Denominator)   
Weighted-average shares - Basic EPS739,406 737,756 737,036 
Add incremental non-participating securities:   
Dilutive share-based payment awards (a)2,724 2,097 1,130 
Forward sale agreements170 — — 
Exchangeable Notes1,048 — — 
Weighted-average shares - Diluted EPS743,348 739,853 738,166 
Basic EPS   
Net Income available to PPL common shareowners$1.60 $1.20 $1.00 
Diluted EPS   
Net Income available to PPL common shareowners$1.59 $1.20 $1.00 

(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 the DRIP as follows (in thousands):
 202520242023
DRIP762 202 — 

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:
 202520242023
Stock-based compensation awards106 — 243 
Forward sale agreements10,040 — —