Segment and Related Information (Tables)

12 Months Ended

Dec. 31, 2024

The tables below provide information about PPL’s segments and include the reconciliation to consolidated net income for the year ended December 31, 2024:


	Kentucky Regulated		Pennsylvania Regulated		Rhode Island Regulated		Total
Operating Revenues from external customers (a)	$	3,562	$	2,876	$	2,024	$	8,462
Reconciliation of revenue
Corporate and other revenues							—
Total consolidated revenues							$	8,462

Less:
Fuel	783		—		—		783
Energy Purchases	176		721		782		1,679
Operation and maintenance	803		705		731		2,239
Depreciation	710		401		165		1,276
Taxes, other than income	99		131		144		374
Other (income) expense - net	(29)		(78)		(24)		(131)
Interest expense	240		246		95		581
Income taxes	160		176		22		358
Segment net income	$	620	$	574	$	109	$	1,303

Reconciliation of segment profit or loss to consolidated net income
Corporate and other net loss							(415)
Net Income							$	888

(a)See Note 1 and Note 3 for additional information on Operating Revenues.

Other information for the segments and reconciliation to PPL's Consolidated results for the year ended December 31, 2024 are as follows:


	Kentucky Regulated		Pennsylvania Regulated		Rhode Island Regulated		Total Segments		Corporate and Other		Consolidated Total
Other Segment Disclosures
Amortization (a)	$	24	$	45	$	1	$	70	$	8	$	78
Deferred income taxes and investment tax credits (b)	2		129		38		169		27		196
Expenditures for long lived assets	1,088		1,229		495		2,812		(7)		2,805

(a)Represents non-cash expense items that include amortization of operating lease right-of-use assets, regulatory assets and liabilities, debt discounts and premiums and debt issuance costs.

(b)Represents a non-cash expense item that is also included in "Income Taxes."

The tables below provide information about PPL’s segments and include the reconciliation to consolidated net income for the year ended December 31, 2023:


	Kentucky Regulated		Pennsylvania Regulated		Rhode Island Regulated		Total
Operating Revenues from external customers (a)	$	3,452	$	3,008	$	1,851	$	8,311
Reconciliation of revenue
Corporate and other revenues							1
Total consolidated revenues							$	8,312


	Kentucky Regulated		Pennsylvania Regulated		Rhode Island Regulated		Total
Less:
Fuel	733		—		—		733
Energy Purchases	192		992		658		1,842
Operation and maintenance	826		605		705		2,136
Depreciation	696		397		156		1,249
Taxes, other than income	93		143		156		392
Other (income) expense - net	(12)		(39)		(19)		(70)
Interest expense	235		223		83		541
Income taxes	137		168		16		321
Segment net income	$	552	$	519	$	96	$	1,167

Reconciliation of segment profit or loss to consolidated net income
Corporate and other net loss							(427)
Net Income							$	740

(a)See Note 1 and Note 3 for additional information on Operating Revenues.

Other information for the segments and reconciliation to PPL's Consolidated results for the year ended December 31, 2023 are as follows:


	Kentucky Regulated		Pennsylvania Regulated		Rhode Island Regulated		Total Segments		Corporate and Other		Consolidated Total
Other Segment Disclosures
Amortization (a)	$	33	$	41	$	1	$	75	$	6	$	81
Deferred income taxes and investment tax credits (b)	(17)		46		48		77		245		322
Expenditures for long lived assets	950		956		454		2,360		30		2,390

(a)Represents non-cash expense items that include amortization of operating lease right-of-use assets, regulatory assets and liabilities, debt discounts and premiums and debt issuance costs.

(b)Represents a non-cash expense item that is also included in "Income Taxes."

The tables below provide information about PPL’s segments and include the reconciliation to consolidated net income for the year ended December 31, 2022:


	Kentucky Regulated		Pennsylvania Regulated		Rhode Island Regulated		Total
Operating Revenues from external customers (a)	$	3,811	$	3,030	$	1,038	$	7,879
Reconciliation of revenue
Corporate and other revenues							23
Total consolidated revenues							$	7,902

Less:
Fuel	931		—		—		931
Energy Purchases	273		1,048		365		1,686
Operation and maintenance	959		605		531		2,095
Depreciation	685		393		92		1,170
Taxes, other than income	92		149		92		333
Other (income) expense - net	(12)		(35)		(23)		(70)
Interest expense	205		171		39		415
Income taxes	129		174		(14)		289
Segment net income	$	549	$	525	$	(44)	$	1,030

Reconciliation of segment profit or loss to consolidated net income
Corporate and other net loss							(316)
Income from discontinued operations (Note 9)							42
Net Income							$	756

(a)See Note 1 and Note 3 for additional information on Operating Revenues.

Other information for the segments and reconciliation to PPL's Consolidated results for the year ended December 31, 2022 are as follows:


	Kentucky Regulated		Pennsylvania Regulated		Rhode Island Regulated		Total Segments		Corporate and Other		Consolidated Total
Other Segment Disclosures
Amortization (a)	$	23	$	22	$	2	$	47	$	5	$	52
Deferred income taxes and investment tax credits (b)	6		91		39		136		43		179
Expenditures for long lived assets	917		889		268		2,074		84		2,158

(a)Represents non-cash expense items that include amortization of operating lease right-of-use assets, regulatory assets and liabilities, debt discounts and premiums and debt issuance costs.

(b)Represents a non-cash expense item that is also included in "Income Taxes."

The following provides Balance Sheet data for the segments and reconciliation to PPL's consolidated results as of:


	As of December 31,
	2024		2023
Total Assets
Kentucky Regulated	$	17,626	$	17,029
Pennsylvania Regulated	15,475		14,294
Rhode Island Regulated	7,055		6,515
Corporate and Other (a)	913		1,398
Total	$	41,069	$	39,236

(a)Primarily consists of unallocated items, including cash, PP&E, goodwill, and the elimination of inter-segment transactions.