Segment and Related Information (Tables)

3 Months Ended

Mar. 31, 2025

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 Regulated		Pennsylvania Regulated		Rhode Island Regulated		Total
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:
Fuel	234		—		—		234
Energy Purchases	96		229		235		560
Other operation and maintenance	200		162		200		562
Depreciation	176		102		42		320
Taxes, other than income	25		41		47		113
Other (income) expense - net	(8)		(11)		(7)		(26)
Interest (income) from affiliate	—		(2)		(2)		(4)
Interest expense	60		60		23		143
Income taxes	53		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 Regulated		Pennsylvania Regulated		Rhode Island Regulated		Total Segments		Corporate and Other		Consolidated 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 assets	290		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 Regulated		Pennsylvania Regulated		Rhode Island Regulated		Total
Operating Revenues from external customers (a)	$	984	$	770	$	549	$	2,303
Reconciliation of revenue
Corporate and Other revenues							1
Total consolidated revenues							$	2,304

Less:
Fuel	209		—		—		209
Energy Purchases	77		214		229		520
Other operation and maintenance	202		181		156		539
Depreciation	176		99		41		316
Taxes, other than income	25		36		27		88
Other (income) expense - net	(3)		(9)		(7)		(19)
Interest (income) from affiliate	—		(10)		—		(10)
Interest expense	60		62		24		146
Income taxes	48		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 Regulated		Pennsylvania Regulated		Rhode Island Regulated		Total Segments		Corporate and Other		Consolidated 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 assets	241		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 Regulated	15,654		15,475
Rhode Island Regulated	7,194		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.