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Segment and Related Information
 3 Months Ended
Mar. 31, 2025
Segment Reporting [Abstract]  
Segment and Related Information
2. Segment and Related Information

(PPL)

PPL is organized into three segments, broken down by geographic location: Kentucky Regulated, Pennsylvania Regulated and Rhode Island Regulated.

The Kentucky Regulated segment primarily consists of the regulated electricity generation, transmission and distribution operations conducted by LG&E and KU, as well as LG&E's regulated transmission, distribution and sale of natural gas.

The Pennsylvania Regulated segment consists of the regulated electricity transmission and distribution operations of PPL Electric.

The Rhode Island Regulated segment consists of the regulated electricity transmission and distribution and natural gas distribution operations of RIE.

"Corporate and Other" primarily consists of corporate level financing costs, certain unallocated costs and certain non-recoverable costs incurred in conjunction with the acquisition of Rhode Island Energy. "Corporate and Other" is presented to reconcile segment information to PPL's consolidated results and is not a reportable segment.

The table below provides information about PPL’s segments and includes the reconciliation to consolidated net income for the three months ended March 31, 2025:
Kentucky RegulatedPennsylvania RegulatedRhode Island RegulatedTotal
Operating Revenues from external customers (a)$1,059 $819 $626 $2,504 
Reconciliation of revenue
Corporate and Other revenues— 
Total consolidated revenues$2,504 
Less:
Fuel234 — — 234 
Energy Purchases96 229 235 560 
Other operation and maintenance200 162 200 562 
Depreciation176 102 42 320 
Taxes, other than income25 41 47 113 
Other (income) expense - net(8)(11)(7)(26)
Interest (income) from affiliate— (2)(2)(4)
Interest expense60 60 23 143 
Income taxes53 54 18 125 
Segment net income$223 $184 $70 $477 
Reconciliation of segment profit or loss to consolidated net income
Corporate and Other net loss(63)
Net Income$414 

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

Other information for the segments and reconciliation to PPL's Consolidated results for the three months ended March 31, 2025 are as follows:
Kentucky RegulatedPennsylvania RegulatedRhode Island RegulatedTotal SegmentsCorporate and OtherConsolidated Total
Other Segment Disclosures
Amortization (a)$5 $11 $— $16 $4 $20 
Deferred income taxes and investment tax credits (b)8 20 (7)21 17 38 
Expenditures for long lived assets290 328 172 790 3 793 

(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 table below provides information about PPL’s segments and includes the reconciliation to consolidated net income for the three months ended March 31, 2024:
Kentucky RegulatedPennsylvania RegulatedRhode Island RegulatedTotal
Operating Revenues from external customers (a)$984 $770 $549 $2,303 
Reconciliation of revenue
Corporate and Other revenues1 
Total consolidated revenues$2,304 
Less:
Fuel209 — — 209 
Energy Purchases77 214 229 520 
Other operation and maintenance202 181 156 539 
Depreciation176 99 41 316 
Taxes, other than income25 36 27 88 
Other (income) expense - net(3)(9)(7)(19)
Interest (income) from affiliate— (10)— (10)
Interest expense60 62 24 146 
Income taxes48 48 15 111 
Segment net income$190 $149 $64 $403 
Reconciliation of segment profit or loss to consolidated net income
Corporate and Other net loss(96)
Net Income$307 

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

Other information for the segments and reconciliation to PPL's Consolidated results for the three months ended March 31, 2024 are as follows:
Kentucky RegulatedPennsylvania RegulatedRhode Island RegulatedTotal SegmentsCorporate and OtherConsolidated Total
Other Segment Disclosures
Amortization (a)$8 $12 $— $20 $4 $24 
Deferred income taxes and investment tax credits (b)4 32 18 54 18 72 
Expenditures for long lived assets241 229 125 595 1 596 

(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 Balance Sheets as of:
March 31,
2025		December 31,
2024
Total Assets  
Kentucky Regulated$17,789 $17,626 
Pennsylvania Regulated15,654 15,475 
Rhode Island Regulated7,194 7,055 
Corporate and Other (a)1,172 913 
Total $41,809 $41,069 

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

(PPL Electric)

PPL Electric has two operating segments, distribution and transmission, which are aggregated into a single reportable segment.
The measure of segment assets is reported on PPL Electric's Balance Sheets as total consolidated assets. The measures of significant segment expenses are reported on PPL Electric's Statements of Income. The measures of significant non-cash segment expenses as well as expenditures for long lived assets are reported on PPL Electric's Statements of Cash Flows.

(LG&E and KU)

Each of LG&E and KU operates as a single operating and reportable segment.

The measures of segment assets are reported on the Balance Sheets of LG&E and KU as total assets. The measures of significant segment expenses are reported on the Statements of Income of LG&E and KU. The measures of significant non-cash segment expenses as well as expenditures for long lived assets are reported on the Statements of Cash Flows of LG&E and KU.