PPL Corporation balance sheet

At the end of fiscal 2025, PPL Corporation had total assets of $45.24bn and shareholders' equity of $14.88bn. It held $1.07bn in cash against $19.35bn of debt: net debt of $18.28bn.

Balance sheet

US$ billions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

PPL Corporation: balance sheet, annual
Fiscal year	2009Dec 2009	2010Dec 2010	2011Dec 2011	2012Dec 2012	2013Dec 2013	2014Dec 2014	2015Dec 2015	2016Dec 2016	2017Dec 2017	2018Dec 2018	2019Dec 2019	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025	LTMJun 2026
Cash and equivalents	0.8	0.9	1.2	0.5	0.9	1.4	0.8	0.3	0.5	0.6	0.8	0.4	3.6	0.4	0.3	0.3	1.1	0.3
Receivables	0.4	0.7	0.7	0.7	0.9	0.7	0.7	0.7	0.7	0.7	0.7	0.6	0.6	0.9	1.0	1.0	1.1	1.2
Inventory	0.4	0.6	0.7	0.7	0.7	0.4	0.4	0.4	0.3	0.3	0.3	0.3	0.3	0.4	0.5	0.5	0.6	0.6
Total current assets	4.8	6.2	6.4	5.1	5.2	6.0	2.6	2.1	2.3	2.4	2.8	20.9	5.0	2.8	2.9	2.9	3.9	3.2
Goodwill	0.8	1.8	4.1	4.2	3.8	3.7	3.6	3.1	3.3	3.2	3.2	0.7	0.7	2.2	2.2	2.2	2.2	2.2
Total assets	22.2	32.8	42.6	43.6	46.3	48.6	39.3	38.3	41.5	43.4	45.7	48.1	33.2	37.8	39.2	41.1	45.2	46.3
Accounts payable	0.6	1.0	1.2	1.3	1.3	1.0	0.8	0.8	0.9	1.0	1.0	0.7	0.7	1.2	1.1	1.2	1.6	1.4
Total current liabilities	4.2	5.2	5.3	5.6	4.9	7.4	3.9	3.8	4.0	4.6	4.9	15.1	2.3	3.8	3.3	3.3	4.5	3.5
Short-term debt	0.0	0.5	0.0	0.8	0.3	1.0	0.5	0.5	0.3	0.5	1.2	1.1	0.5	0.4	0.0	0.6	0.9	0.5
Long-term debt	7.1	12.2	18.0	18.7	20.6	17.1	18.6	17.8	19.8	20.1	20.7	13.6	10.7	12.9	14.6	16.0	18.0	19.8
Total debt	7.8	13.4	18.6	20.1	21.6	18.9	20.0	19.2	21.3	22.0	23.0	15.9	11.3	14.2	15.6	16.8	19.4	20.3
Shareholders' equity	5.5	8.2	10.8	10.5	12.5	13.6	9.9	9.9	10.8	11.7	13.0	13.4	13.7	13.9	13.9	14.1	14.9	15.0
Net debt (negative = net cash)	7.0	12.4	17.4	19.6	20.7	17.5	19.1	18.9	20.8	21.4	22.2	15.4	7.7	13.9	15.3	16.5	18.3	20.0
Shares outstanding	377m	483m	578m	582m	630m	666m	674m	680m	693m	720m	767m	769m	735m	736m	737m	738m	751m	752m

US$ billions unless shown otherwise. Fiscal quarters.

PPL Corporation: balance sheet, quarterly
Quarter	2024 Q3Sept 2024	2024 Q4Dec 2024	2025 Q1Mar 2025	2025 Q2Jun 2025	2025 Q3Sept 2025	2025 Q4Dec 2025	2026 Q1Mar 2026	2026 Q2Jun 2026
Receivables	0.9	1.0	1.2	1.0	1.0	1.1	1.3	1.2
Inventory	0.5	0.5	0.5	0.5	0.5	0.6	0.5	0.6
Total current assets	3.0	2.9	3.1	2.9	3.6	3.9	4.3	3.2
Goodwill	2.2	2.2	2.2	2.2	2.2	2.2	2.2	2.2
Total assets	40.5	41.1	41.8	42.4	43.9	45.2	46.3	46.3
Accounts payable	0.9	1.2	1.1	1.1	1.2	1.6	1.4	1.4
Total current liabilities	2.3	3.3	3.8	5.0	4.7	4.5	4.3	3.5
Short-term debt	0.0	0.6	0.6	1.2	1.5	0.9	1.0	0.5
Long-term debt	16.5	16.0	15.9	15.3	16.9	18.0	19.0	19.8
Total debt	16.5	16.5	16.5	16.5	18.4	18.9	20.0	20.3
Shareholders' equity	14.1	14.1	14.3	14.3	14.4	14.9	15.0	15.0
Shares outstanding	738m	738m	739m	739m	740m	751m	752m	752m

Balances at each fiscal year end (quarter end in the quarterly view). Total debt is short- plus long-term borrowings, including lease debt where the company reports it within debt. Where assets do not equal liabilities plus shareholders' equity, the difference (non-controlling interests, redeemable preferred shares) is shown on its own line.

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Figures from PPL Corporation's SEC filings (10-K and 10-Q), retrieved October 20, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to PPL Corporation.