v3.26.3
Segment and Related Information
 9 Months Ended
Sep. 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 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 September 30, 2026:
Kentucky RegulatedPennsylvania RegulatedRhode Island RegulatedTotal
Operating Revenues from external customers (a)$1,048 $918 $530 $2,496 
Reconciliation of revenue
Corporate and Other revenues1 
Total consolidated revenues$2,497 
Less:
Fuel246 — — 246 
Energy purchases21 274 191 486 
Other operation and maintenance215 188 209 612 
Depreciation201 112 51 364 
Taxes, other than income29 42 46 117 
Other (income) expense - net(17)(13)10 (20)
Interest (income) from affiliate— (5)(5)(10)
Interest expense72 73 29 174 
Income taxes57 56 (3)110 
Segment net income$224 $191 $2 $417 
Reconciliation of segment profit or loss to consolidated net income
Corporate and Other net loss(50)
Net Income$367 

(a)See Note 3 for additional information on Operating Revenues.
The table below provides information about PPL's segments and includes a reconciliation to consolidated net income for the nine months ended September 30, 2026:
Kentucky RegulatedPennsylvania RegulatedRhode Island RegulatedTotal
Operating Revenues from external customers (a)$3,144 $2,633 $1,605 $7,382 
Reconciliation of revenue
Corporate and Other revenues— 
Total consolidated revenues$7,382 
Less:
Fuel715 — — 715 
Energy purchases173 818 602 1,593 
Other operation and maintenance622 536 594 1,752 
Depreciation595 330 148 1,073 
Taxes, other than income84 126 132 342 
Other (income) expense - net(41)(39)(8)(88)
Interest (income) from affiliate— (7)(5)(12)
Interest expense215 213 85 513 
Interest expense with affiliate— — 7 7 
Income taxes156 149 2 307 
Segment net income$625 $507 $48 $1,180 
Reconciliation of segment profit or loss to consolidated net income
Corporate and Other net loss(131)
Net Income$1,049 

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

Other information for the segments and reconciliation to PPL's Consolidated results for the nine months ended September 30, 2026 are as follows:
Kentucky RegulatedPennsylvania RegulatedRhode Island RegulatedTotal SegmentsCorporate and OtherConsolidated Total
Other Segment Disclosures
Amortization (a)$40 $40 $2 $82 $13 $95 
Deferred income taxes and investment tax credits (b)5 71 62 138 69 207 
Expenditures for long lived assets1,550 1,314 626 3,490 58 3,548 

(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 September 30, 2025:
Kentucky RegulatedPennsylvania RegulatedRhode Island RegulatedTotal
Operating Revenues from external customers (a)$944 $786 $509 $2,239 
Reconciliation of revenue
Corporate and Other revenues— 
Total consolidated revenues$2,239 
Less:
Fuel231 — — 231 
Energy purchases23 224 173 420 
Other operation and maintenance201 160 196 557 
Depreciation180 105 45 330 
Taxes, other than income26 38 38 102 
Other (income) expense - net(17)(14)(2)(33)
Interest (income) from affiliate— (2)— (2)
Interest expense68 67 28 163 
Income taxes47 49 4 100 
Segment net income$185 $159 $27 $371 
Reconciliation of segment profit or loss to consolidated net income
Corporate and Other net loss(53)
Net Income$318 

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

The table below provides information about PPL's segments and includes a reconciliation to consolidated net income for the nine months ended September 30, 2025:
Kentucky RegulatedPennsylvania RegulatedRhode Island RegulatedTotal
Operating Revenues from external customers (a)$2,841 $2,298 $1,629 $6,768 
Reconciliation of revenue
Corporate and Other revenues— 
Total consolidated revenues$6,768 
Less:
Fuel657 — — 657 
Energy Purchases149 622 598 1,369 
Other operation and maintenance601 481 610 1,692 
Depreciation535 307 131 973 
Taxes, other than income77 111 127 315 
Other (income) expense - net(35)(36)(5)(76)
Interest (income) from affiliate— (4)(3)(7)
Interest expense191 189 78 458 
Income taxes132 146 13 291 
Segment net income$534 $482 $80 $1,096 
Reconciliation of segment profit or loss to consolidated net income
Corporate and Other net loss(181)
Net Income$915 

(a)See Note 3 for additional information on Operating Revenues.
Other information for the segments and reconciliation to PPL's Consolidated results for the nine months ended September 30, 2025 are as follows:
Kentucky RegulatedPennsylvania RegulatedRhode Island RegulatedTotal SegmentsCorporate and OtherConsolidated Total
Other Segment Disclosures
Amortization (a)$28 $34 $1 $63 $10 $73 
Deferred income taxes and investment tax credits (b)21 63 38 122 55 177 
Expenditures for long lived assets1,243 1,082 539 2,864 4 2,868 

(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:
September 30,
2026		December 31,
2025
Total Assets
Kentucky Regulated$20,019 $19,060 
Pennsylvania Regulated18,182 16,886 
Rhode Island Regulated8,122 7,510 
Corporate and Other (a)1,023 1,788 
Total $47,346 $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.