PPL Corp
For the period ended Jun 30, 2024. Filed Aug 2, 2024.
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Jun 30, 2024 · Filed Aug 2, 2024
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2. Segment and Related Information
- Segment and Related Information
(PPL)
PPL is organized into three segments: Kentucky Regulated, Pennsylvania Regulated and Rhode Island Regulated. PPL's segments are determined by geographic location.
The Kentucky Regulated segment includes the regulated electricity generation, transmission and distribution operations conducted by LG&E and KU, as well as LG&E's regulated 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" primarily includes corporate level financing costs, certain unallocated costs and certain non-recoverable costs incurred in conjunction with the acquisition of Narragansett Electric. "Corporate and Other" is presented to reconcile segment information to PPL's consolidated results.
Income Statement data for the segments and reconciliation to PPL's consolidated results for the periods ended June 30 are as follows:
| Three Months | Six Months | |||
|---|---|---|---|---|
| 2024 | 2023 | 2024 | 2023 | |
| Operating Revenues from external customers | ||||
| Kentucky Regulated | $819 | $778 | $1,803 | $1,738 |
| Pennsylvania Regulated | 673 | 667 | 1,443 | 1,558 |
| Rhode Island Regulated | 389 | 377 | 938 | 942 |
| Corporate and Other | — | 1 | 1 | — |
| Total | $1,881 | $1,823 | $4,185 | $4,238 |
| Net Income (Loss) | ||||
| Kentucky Regulated | $134 | $91 | $324 | $257 |
| Pennsylvania Regulated | 150 | 110 | 299 | 248 |
| Rhode Island Regulated | 12 | 10 | 76 | 64 |
| Corporate and Other | (106) | (99) | (202) | (172) |
| Total | $190 | $112 | $497 | $397 |
The following provides Balance Sheet data for the segments and reconciliation to PPL's consolidated Balance Sheets as of:
| June 30,2024 | December 31,2023 | |
|---|---|---|
| Assets | ||
| Kentucky Regulated | $17,251 | $17,029 |
| Pennsylvania Regulated | 15,229 | 14,294 |
| Rhode Island Regulated | 6,683 | 6,515 |
| Corporate and Other (a) | 676 | 1,398 |
| Total | $39,839 | $39,236 |
(a)Primarily consists of unallocated items, including cash, PP&E, goodwill and the elimination of inter-segment transactions.
(PPL Electric, LG&E and KU)
PPL Electric has two operating segments, distribution and transmission, which are aggregated into a single reportable segment. Each of LG&E and KU operate as a single operating and reportable segment.
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