v3.26.1
Segment and Related Information
 6 Months Ended
Jun. 30, 2026
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 consists primarily 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 includes the regulated electricity transmission and distribution operations of PPL Electric.

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

"Corporate and Other" consists primarily of corporate level financing costs, certain unallocated costs and certain non-recoverable costs incurred prior to 2026 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 a reconciliation of segment net income to consolidated net income for the three months ended June 30, 2026:
Kentucky RegulatedPennsylvania RegulatedRhode Island RegulatedTotal
Operating Revenues from external customers (a)$888 $744 $479 $2,111 
Reconciliation of revenue
Corporate and Other revenues— 
Total consolidated revenues$2,111 
Less:
Fuel195 — — 195 
Energy purchases25 213 164 402 
Other operation and maintenance214 158 194 566 
Depreciation202 110 49 361 
Taxes, other than income29 36 40 105 
Other (income) expense - net(13)(14)(9)(36)
Interest (income) from affiliate— (1)— (1)
Interest expense71 73 30 174 
Income taxes34 37 1 72 
Segment net income$131 $132 $10 $273 
Reconciliation of segment profit or loss to consolidated net income
Corporate and Other net loss(43)
Net Income$230 

(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, 2026:
Kentucky RegulatedPennsylvania RegulatedRhode Island RegulatedTotal
Operating Revenues from external customers (a)$2,095 $1,715 $1,075 $4,885 
Reconciliation of revenue
Corporate and Other revenues— 
Total consolidated revenues$4,885 
Less:
Fuel469 — — 469 
Energy purchases151 544 411 1,106 
Other operation and maintenance407 348 385 1,140 
Depreciation394 218 97 709 
Taxes, other than income56 84 86 226 
Other (income) expense - net(24)(26)(19)(69)
Interest (income) from affiliate— (2)— (2)
Interest expense142 140 63 345 
Income taxes99 93 6 198 
Segment net income$401 $316 $46 $763 
Reconciliation of segment profit or loss to consolidated net income
Corporate and Other net loss(81)
Net Income$682 

(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, 2026 are as follows:
Kentucky RegulatedPennsylvania RegulatedRhode Island RegulatedTotal SegmentsCorporate and OtherConsolidated Total
Other Segment Disclosures
Amortization (a)$27 $29 $1 $57 $8 $65 
Deferred income taxes and investment tax credits (b)7 41 46 94 43 137 
Expenditures for long lived assets1,052 801 435 2,288 58 2,346 

(a)Represents non-cash expense items that include amortization of 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 a reconciliation of segment net income 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 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,
2026		December 31,
2025
Total Assets
Kentucky Regulated$19,604 $19,060 
Pennsylvania Regulated18,043 16,886 
Rhode Island Regulated8,075 7,510 
Corporate and Other (a)579 1,788 
Total $46,301 $45,244 

(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 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.