v3.25.2
Segment and Related Information
 6 Months Ended
Jun. 30, 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 RIE. "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 June 30, 2025:
Kentucky RegulatedPennsylvania RegulatedRhode Island RegulatedTotal
Operating Revenues from external customers (a)$837 $693 $494 $2,024 
Reconciliation of revenue
Corporate and Other revenues1 
Total consolidated revenues$2,025 
Less:
Fuel192 — — 192 
Energy Purchases30 169 190 389 
Other operation and maintenance200 159 214 573 
Depreciation179 100 44 323 
Taxes, other than income26 32 42 100 
Other (income) expense - net(10)(11)4 (17)
Interest (income) from affiliate— — (1)(1)
Interest expense62 62 27 151 
Income taxes32 43 (9)66 
Segment net income$126 $139 $(17)$248 
Reconciliation of segment profit or loss to consolidated net income
Corporate and Other net loss(65)
Net Income$183 

(a)See Note 3 for additional information on Operating Revenues.
The table below provides information about PPL’s segments and includes the reconciliation to consolidated net income for the six months ended June 30, 2025:
Kentucky RegulatedPennsylvania RegulatedRhode Island RegulatedTotal
Operating Revenues from external customers (a)$1,896 $1,512 $1,120 $4,528 
Reconciliation of revenue
Corporate and Other revenues1 
Total consolidated revenues$4,529 
Less:
Fuel426 — — 426 
Energy Purchases126 398 425 949 
Other operation and maintenance400 321 414 1,135 
Depreciation355 202 86 643 
Taxes, other than income51 73 89 213 
Other (income) expense - net(18)(22)(3)(43)
Interest (income) from affiliate— (2)(3)(5)
Interest expense122 122 50 294 
Income taxes85 97 9 191 
Segment net income$349 $323 $53 $725 
Reconciliation of segment profit or loss to consolidated net income
Corporate and Other net loss(128)
Net Income$597 

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

Other information for the segments and reconciliation to PPL's Consolidated results for the six months ended June 30, 2025 are as follows:
Kentucky RegulatedPennsylvania RegulatedRhode Island RegulatedTotal SegmentsCorporate and OtherConsolidated Total
Other Segment Disclosures
Amortization (a)$22 $21 $— $43 $6 $49 
Deferred income taxes and investment tax credits (b)11 48 18 77 27 104 
Expenditures for long lived assets689 697 336 1,722 1 1,723 
(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 June 30, 2024:
Kentucky RegulatedPennsylvania RegulatedRhode Island RegulatedTotal
Operating Revenues from external customers (a)$819 $673 $389 $1,881 
Reconciliation of revenue
Corporate and Other revenues— 
Total consolidated revenues$1,881 
Less:
Fuel181 — — 181 
Energy Purchases22 153 100 275 
Other operation and maintenance195 154 180 529 
Depreciation177 100 40 317 
Taxes, other than income24 30 39 93 
Other (income) expense - net(9)(11)(6)(26)
Interest (income) from affiliate— (10)— (10)
Interest expense61 61 23 145 
Income taxes34 46 1 81 
Segment net income$134 $150 $12 $296 
Reconciliation of segment profit or loss to consolidated net income
Corporate and Other net loss(106)
Net Income$190 

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

The table below provides information about PPL’s segments and includes the reconciliation to consolidated net income for the six months ended June 30, 2024:
Kentucky RegulatedPennsylvania RegulatedRhode Island RegulatedTotal
Operating Revenues from external customers (a)$1,803 $1,443 $938 $4,184 
Reconciliation of revenue
Corporate and Other revenues1 
Total consolidated revenues$4,185 
Less:
Fuel390 — — 390 
Energy Purchases99 367 329 795 
Other operation and maintenance397 335 336 1,068 
Depreciation353 199 81 633 
Taxes, other than income49 66 66 181 
Other (income) expense - net(12)(20)(13)(45)
Interest (income) from affiliate— (20)— (20)
Interest expense121 123 47 291 
Income taxes82 94 16 192 
Segment net income$324 $299 $76 $699 
Reconciliation of segment profit or loss to consolidated net income
Corporate and Other net loss(202)
Net Income$497 

(a)See Note 3 for additional information on Operating Revenues.
Other information for the segments and reconciliation to PPL's Consolidated results for the six months ended June 30, 2024 are as follows:
Kentucky RegulatedPennsylvania RegulatedRhode Island RegulatedTotal SegmentsCorporate and OtherConsolidated Total
Other Segment Disclosures
Amortization (a)$18 $25 $— $43 $4 $47 
Deferred income taxes and investment tax credits (b)1 60 36 97 17 114 
Expenditures for long lived assets506 519 241 1,266 — 1,266 
(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:
June 30,
2025		December 31,
2024
Total Assets  
Kentucky Regulated$18,076 $17,626 
Pennsylvania Regulated15,892 15,475 
Rhode Island Regulated7,125 7,055 
Corporate and Other (a)1,270 913 
Total $42,363 $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.