2009

2008

FINANCIAL ^(a)

Operating revenues (millions) ^(b)

$8,335

$7,097

Net income attributable to PPL (millions)

$531

$1,072

Earnings from ongoing operations (millions) ^(a)

$715

$811

Total assets (millions) ^(c)

$21,944

$20,506

Earnings per share - Basic

$1.41

$2.86

Earnings per share - Diluted

$1.41

$2.85

Earnings from ongoing operations per share - Basic^(e)

$1.89

$2.16

Earnings from ongoing operations per share - Diluted^(e)

$1.89

$2.16

Dividends declared per share

$1.37

$1.31

Book value per share ^(c)

$14.92

$14.91

Market price per share ^(c)

$30.34

$37.02

Dividend yield ^(c)

4.5%

3.5%

Dividend payout ratio ^(d)

97%

46%

Dividend payout ratio - Earnings from ongoing operations ^(d,e)

72%

61%

Market price/Book value ratio ^(c)

203%

248%

Price/earnings ratio ^(c,d)

21.5

13.0

Price/earnings ratio - Earnings from ongoing operations ^(c,d,e)

16.1

17.1

Return on average common equity

9.78%

19.68%

Return on average common equity - Earnings from ongoing operations ^(e)

13.39%

15.62%

OPERATING - DOMESTIC ENERGY

Total retail electricity delivered (millions of kwh)

37,112

38,095

Total retail electricity supplied (millions of kwh)

39,380

40,321

Total wholesale electricity supplied (millions of kwh)

39,765

40,441

OPERATING - INTERNATIONAL DELIVERED

United Kingdom (millions of kwh)

26,641

27,886

(a)

Earnings and certain financial ratios were affected by several special charges or credits. Earnings from ongoing operations excludes the impact of special items. Click on the link at the top of this schedule to reference a reconciliation of net income attributable to PPL, or reported earnings, and earnings from ongoing operations. Earnings from ongoing operations should not be considered as an alternative to net income attributable to PPL, which is an indicator of operating performance determined in accordance with Generally Accepted Accounting Principles (GAAP). PPL believes that earnings from ongoing operations, although a non-GAAP measure, is also useful and meaningful to investors because it provides them with PPL's underlying earnings performance as another criterion in making their investment decisions. PPL's management also uses earnings from ongoing operations in measuring certain corporate performance goals. Other companies may use different measures to present financial performance.

(b)

PPL enters into certain non-trading energy or energy-related contracts to hedge future cash flows that are not eligible for hedge accounting, or where hedge accounting is not elected. Consistent with the treatment of the hedged item, unrealized and realized gains and losses on these transactions are reflected in wholesale energy marketing, a component of "Operating revenues." These similar impacts also affect energy purchases, a component of operating expenses.

(c)

End of period.

(d)

Results based on diluted earnings per share.

(e)

Calculated using earnings from ongoing operations.