PPL Corp (PPL) [Rocket]

In millions, except per share items	Dec-31-21	Dec-31-20	Dec-31-19	Dec-31-18	Dec-31-17	Dec-31-16	Dec-31-15	Dec-31-14
	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K
Revenues:
Kentucky Regulated	3,348	3,106	3,206	3,214	3,156	3,141	3,115	3,168
LG And E And KU Energy LLC				3,235	3,156	3,141	3,115
Pennsylvania Regulated	2,482	2,330	2,358	2,277	2,195	2,156	2,124	2,044
PPL Electric Utilities Corp	2,482	2,331	2,358	2,277	2,195	2,156	2,124
Other								2,640
Total revenues	5,838	5,429	5,541	7,779	7,447	7,517	7,669	7,852
Revenue growth [+]	7.5%	-2.0%	-28.8%	4.5%	-0.9%	-2.0%	-2.3%	8.1%
Kentucky Regulated	7.8%	-3.1%	-0.2%	1.8%	0.5%	0.8%	-1.7%	6.5%
LG And E And KU Energy LLC				2.5%	0.5%	0.8%
Pennsylvania Regulated	6.5%	-1.2%	3.6%	3.7%	1.8%	1.5%	3.9%	9.3%
PPL Electric Utilities Corp	6.5%	-1.1%	3.6%	3.7%	1.8%	1.5%
U.K. Regulated				8.5%	-5.3%	-8.4%	-8.1%	9.1%
Cost of goods sold [+]	710	632	709	799	759	791	2,801	2,821
Fuel costs							863	965
Gross profit	5,128	4,797	4,832	6,980	6,688	6,726	4,868	5,031
Gross margin	87.8%	88.4%	87.2%	89.7%	89.8%	89.5%	63.5%	64.1%
Selling, general and administrative	1,082	1,022	949	1,094	1,008	926	883	923
Other operating expenses	2,622	2,189	2,357	3,034	2,779	2,864	1,154	1,241
EBITDA [+]	2,545	2,666	2,533	4,024	4,006	3,942	3,773	3,855
EBITDA growth	-4.5%	5.3%	-37.1%	0.4%	1.6%	4.5%	-2.1%	11.1%
EBITDA margin	43.6%	49.1%	45.7%	51.7%	53.8%	52.4%	49.2%	49.1%
Depreciation	1,082	1,022	949	1,094	1,008	926	883	923
EBITA	1,463	1,644	1,584	2,930	2,998	3,016	2,890	2,932
EBITA margin	25.1%	30.3%	28.6%	37.7%	40.3%	40.1%	37.7%	37.3%
Amortization of intangibles	39	58	58	78	97	80	59	65
EBIT [+]	1,424	1,586	1,526	2,852	2,901	2,936	2,831	2,867
EBIT growth	-10.2%	3.9%	-46.5%	-1.7%	-1.2%	3.7%	-1.3%	11.9%
EBIT margin	24.4%	29.2%	27.5%	36.7%	39.0%	39.1%	36.9%	36.5%
Interest expense, net [+]	906	625	606	957	899	885	867	842
Interest expense	918	634	621	963	901	888	871	843
Interest income	12	9	15	6	2	3	4	1
Other income (expense), net	3	-7	-1	390	-90	499	104	104
Pre-tax income	521	954	919	2,285	1,912	2,550	2,068	2,129
Income taxes	503	314	183	458	784	648	465	692
Tax rate	96.5%	32.9%	19.9%	20.0%	41.0%	25.4%	22.5%	32.5%
Earnings from continuing ops	18	640	736	1,827	1,128	1,902	3,206	1,437
Earnings from discontinued ops	0	0	0				-921	300
Net income	-1,480	1,469	1,746	1,827	1,128	1,902	2,285	1,737
Net margin	-25.4%	27.1%	31.5%	23.5%	15.1%	25.3%	29.8%	22.1%

Basic EPS [+]	$0.02	$0.83	$1.01	$2.59	$1.65	$2.81	$4.79	$2.20
Growth	-97.2%	-17.6%	-61.0%	57.6%	-41.4%	-41.4%	117.7%	-51.1%
Diluted EPS [+]	$0.02	$0.83	$1.00	$2.58	$1.64	$2.80	$4.77	$2.16
Growth	-97.2%	-16.7%	-61.3%	57.1%	-41.3%	-41.4%	120.9%	-47.7%

Dividends per share [+]	$1.66	$1.66	$1.65	$1.64	$1.58	$1.52	$1.50	$1.49
Growth	0.0%	0.6%	0.6%	3.8%	3.9%	1.3%	0.7%	1.4%

Shares outstanding (basic) [+]	763	769	729	704	685	678	670	654
Growth	-0.7%	5.5%	3.4%	2.8%	1.1%	1.2%	2.5%	7.3%
Shares outstanding (diluted) [+]	765	769	737	709	687	680	673	666
Growth	-0.6%	4.4%	4.0%	3.1%	1.0%	1.2%	1.0%	0.4%

EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.