Document and Entity Information
Document and Entity Information - shares | 6 Months Ended | |
Jun. 30, 2023 | Jul. 27, 2023 | |
Entity Information [Line Items] | ||
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Jun. 30, 2023 | |
Document Transition Report | false | |
Entity File Number | 1-3525 | |
Entity Registrant Name | AMERICAN ELECTRIC POWER CO INC. | |
Entity Incorporation, State or Country Code | NY | |
Entity Tax Identification Number | 13-4922640 | |
Entity Address, Address Line One | 1 Riverside Plaza, | |
Entity Address, City or Town | Columbus, | |
Entity Address, State or Province | OH | |
Entity Address, Postal Zip Code | 43215-2373 | |
City Area Code | (614) | |
Local Phone Number | 716-1000 | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Large Accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 515,176,044 | |
Entity Central Index Key | 0000004904 | |
Amendment Flag | false | |
Document Fiscal Year Focus | 2023 | |
Document Fiscal Period Focus | Q2 | |
Current Fiscal Year End Date | --12-31 | |
AEP Texas Inc. [Member] | ||
Entity Information [Line Items] | ||
Entity File Number | 333-221643 | |
Entity Registrant Name | AEP TEXAS INC. | |
Entity Incorporation, State or Country Code | DE | |
Entity Tax Identification Number | 51-0007707 | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Entity Common Stock, Shares Outstanding | 100 | |
Entity Central Index Key | 0001721781 | |
AEP Transmission Co [Member] | ||
Entity Information [Line Items] | ||
Entity File Number | 333-217143 | |
Entity Registrant Name | AEP TRANSMISSION COMPANY, LLC | |
Entity Incorporation, State or Country Code | DE | |
Entity Tax Identification Number | 46-1125168 | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Entity Central Index Key | 0001702494 | |
Appalachian Power Co [Member] | ||
Entity Information [Line Items] | ||
Entity File Number | 1-3457 | |
Entity Registrant Name | APPALACHIAN POWER COMPANY | |
Entity Incorporation, State or Country Code | VA | |
Entity Tax Identification Number | 54-0124790 | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Entity Common Stock, Shares Outstanding | 13,499,500 | |
Entity Central Index Key | 0000006879 | |
Indiana Michigan Power Co [Member] | ||
Entity Information [Line Items] | ||
Entity File Number | 1-3570 | |
Entity Registrant Name | INDIANA MICHIGAN POWER COMPANY | |
Entity Incorporation, State or Country Code | IN | |
Entity Tax Identification Number | 35-0410455 | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Entity Common Stock, Shares Outstanding | 1,400,000 | |
Entity Central Index Key | 0000050172 | |
Ohio Power Co [Member] | ||
Entity Information [Line Items] | ||
Entity File Number | 1-6543 | |
Entity Registrant Name | OHIO POWER COMPANY | |
Entity Incorporation, State or Country Code | OH | |
Entity Tax Identification Number | 31-4271000 | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Entity Common Stock, Shares Outstanding | 27,952,473 | |
Entity Central Index Key | 0000073986 | |
Public Service Co Of Oklahoma [Member] | ||
Entity Information [Line Items] | ||
Entity File Number | 0-343 | |
Entity Registrant Name | PUBLIC SERVICE COMPANY OF OKLAHOMA | |
Entity Incorporation, State or Country Code | OK | |
Entity Tax Identification Number | 73-0410895 | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Entity Common Stock, Shares Outstanding | 9,013,000 | |
Entity Central Index Key | 0000081027 | |
Southwestern Electric Power Co [Member] | ||
Entity Information [Line Items] | ||
Entity File Number | 1-3146 | |
Entity Registrant Name | SOUTHWESTERN ELECTRIC POWER COMPANY | |
Entity Incorporation, State or Country Code | DE | |
Entity Tax Identification Number | 72-0323455 | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Entity Common Stock, Shares Outstanding | 3,680 | |
Entity Central Index Key | 0000092487 | |
The NASDAQ Stock Market LLC | Common Stock [Member] | ||
Entity Information [Line Items] | ||
Title of 12(b) Security | Common Stock, $6.50 par value | |
Trading Symbol | AEP | |
Security Exchange Name | NASDAQ | |
The NASDAQ Stock Market LLC | Preferred Stock 2 | ||
Entity Information [Line Items] | ||
Title of 12(b) Security | 6.125% Corporate Units | |
Trading Symbol | AEPPZ | |
Security Exchange Name | NASDAQ |
Consolidated Statements of Inco
Consolidated Statements of Income - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | |||||||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | ||||||
Revenues | |||||||||
Revenue from Contracts with Customers | $ 4,372.5 | $ 4,639.7 | $ 9,063.4 | $ 9,232.3 | |||||
TOTAL REVENUES | 4,372.5 | 4,639.7 | 9,063.4 | 9,232.3 | |||||
Expenses | |||||||||
Other Operation | 631.2 | 619.8 | 1,311.2 | 1,282 | |||||
Maintenance | 340 | 326.5 | 657.3 | 611.5 | |||||
Loss On Expected Sale Of KPCo | 0 | 68.8 | 0 | 68.8 | |||||
Gain on Sale of Mineral Rights | 0 | (116.3) | 0 | (116.3) | |||||
Depreciation and Amortization | 741.6 | 802.6 | 1,517.1 | 1,595 | |||||
Taxes Other Than Income Taxes | 360.4 | 369.5 | 755.3 | 733.7 | |||||
TOTAL EXPENSES | 3,497.8 | 3,635.3 | 7,483.9 | 7,239.8 | |||||
OPERATING INCOME (LOSS) | 874.7 | 1,004.4 | 1,579.5 | 1,992.5 | |||||
Other Income (Expense): | |||||||||
Other Income | 14.4 | (12.7) | 29.1 | (10.4) | |||||
Allowance for Equity Funds Used During Construction | 41 | 28.6 | 72.3 | 59.6 | |||||
Non-Service Cost Components of Net Periodic Benefit Cost | 55.2 | 47.1 | 110.7 | 94.3 | |||||
Interest Expense | (460) | (327.6) | (875.7) | (641) | |||||
INCOME BEFORE INCOME TAX EXPENSE AND EQUITY EARNINGS | 525.3 | 739.8 | 915.9 | 1,495 | |||||
Income Tax Expense (Benefit) | 28.6 | 54 | 39 | 106.8 | |||||
Equity Earnings (Loss) of Unconsolidated Subsidiaries | 19.4 | (165) | 39.6 | (149.3) | |||||
Net Income (Loss) | 516.1 | 520.8 | 916.5 | 1,238.9 | |||||
Net Income (Loss) Attributable to Noncontrolling Interests | (5.1) | (3.7) | (1.7) | (0.3) | |||||
Earnings Attributable to Common Shareholders | $ 521.2 | $ 524.5 | $ 918.2 | $ 1,239.2 | |||||
Earnings Per Share | |||||||||
Weighted Average Number of Basic AEP Common Shares Outstanding | 514,879,144 | 513,623,431 | 514,529,837 | 509,857,710 | |||||
Total Basic Earnings Per Share Attributable to AEP Common Shareholders | $ 1.01 | $ 1.02 | $ 1.78 | $ 2.43 | |||||
Weighted Average Number of Diluted AEP Common Shares Outstanding | 516,242,919 | 515,162,210 | 515,922,446 | 511,391,735 | |||||
Total Diluted Earnings Per Share Attributable to AEP Common Shareholders | $ 1.01 | $ 1.02 | $ 1.78 | $ 2.42 | |||||
Common Stock, Dividends Per Share, Declared | $ 0.83 | $ 0.78 | |||||||
Acquisition Of Nuclear Fuel Included In Current Liabilities | $ (36) | $ 0 | |||||||
Cash Flow Hedges, Tax | $ 9.3 | $ 35.2 | (31.2) | 101.1 | |||||
Amortization of Pension and OPEB Deferred Costs, Tax | (0.8) | (3.1) | (5.1) | (3.7) | |||||
Related Party | |||||||||
Revenues | |||||||||
Revenue from Contracts with Customers | 0 | 0 | 0 | 0 | |||||
Vertically Integrated Utilities [Member] | |||||||||
Revenues | |||||||||
Revenue from Contracts with Customers | 2,629 | 2,595 | 5,445.3 | 5,241.8 | |||||
Transmission and Distribution Utilities [Member] | |||||||||
Revenues | |||||||||
Revenue from Contracts with Customers | 1,330.8 | 1,296.8 | 2,786.1 | 2,539 | |||||
Generation and Marketing [Member] | |||||||||
Revenues | |||||||||
Revenue from Contracts with Customers | 318.2 | 654.4 | 645.1 | 1,263.9 | |||||
Other Revenues [Member] | |||||||||
Revenues | |||||||||
Revenue from Contracts with Customers | 94.5 | 93.5 | 186.9 | 187.6 | |||||
TOTAL REVENUES | (128.8) | [1] | 135.7 | [2],[3] | (258.7) | [4],[5] | 301.1 | [6],[7] | |
Purchased Electricity, Fuel and Other Consumables Used for Electric Generation [Member] | |||||||||
Expenses | |||||||||
Cost of Goods and Services Sold | 1,424.6 | 1,564.4 | 3,131 | 3,065.1 | |||||
AEP Texas Inc. [Member] | |||||||||
Revenues | |||||||||
TOTAL REVENUES | 461.2 | 478.8 | 890.7 | 895.5 | |||||
Expenses | |||||||||
Other Operation | 93.9 | 142 | 240.8 | 267.8 | |||||
Maintenance | 26.3 | 24.8 | 50.7 | 47.4 | |||||
Depreciation and Amortization | 114.9 | 116.2 | 225.9 | 225 | |||||
Taxes Other Than Income Taxes | 44.8 | 43 | 88.3 | 80.3 | |||||
TOTAL EXPENSES | 279.9 | 326 | 605.7 | 620.5 | |||||
OPERATING INCOME (LOSS) | 181.3 | 152.8 | 285 | 275 | |||||
Other Income (Expense): | |||||||||
Interest Income | 0.6 | 1.3 | 1 | 1.4 | |||||
Allowance for Equity Funds Used During Construction | 5.3 | 3.7 | 11.6 | 8 | |||||
Non-Service Cost Components of Net Periodic Benefit Cost | 4.8 | 4.1 | 9.6 | 8.3 | |||||
Interest Expense | (56.3) | (52.3) | (113.2) | (97.8) | |||||
INCOME BEFORE INCOME TAX EXPENSE AND EQUITY EARNINGS | 135.7 | 109.6 | 194 | 194.9 | |||||
Income Tax Expense (Benefit) | 26.6 | 19.6 | 37.3 | 35.3 | |||||
Net Income (Loss) | 109.1 | 90 | 156.7 | 159.6 | |||||
Earnings Per Share | |||||||||
Cash Flow Hedges, Tax | 0.8 | 0 | 0.8 | 0.1 | |||||
Amortization of Pension and OPEB Deferred Costs, Tax | 0 | 0 | (0.1) | 0 | |||||
AEP Texas Inc. [Member] | Related Party | |||||||||
Revenues | |||||||||
Revenue from Contracts with Customers | 1.3 | 0.8 | 2.5 | 1.7 | |||||
AEP Texas Inc. [Member] | Transmission and Distribution Utilities [Member] | |||||||||
Revenues | |||||||||
Revenue from Contracts with Customers | 459.4 | 476.9 | 887.1 | 891.6 | |||||
AEP Texas Inc. [Member] | Other Revenues [Member] | |||||||||
Revenues | |||||||||
Revenue from Contracts with Customers | 0.5 | 1.1 | 1.1 | 2.2 | |||||
TOTAL REVENUES | 0 | [8] | 0 | [9] | 0 | [10] | 0 | [11] | |
AEP Transmission Co [Member] | |||||||||
Revenues | |||||||||
Provision for Refund Affiliated | (8.3) | (46.8) | (13.1) | (56.4) | |||||
Provision for Refund-Nonaffiliated | (2.8) | (8.3) | (3.8) | (10.3) | |||||
TOTAL REVENUES | 444.9 | 364.4 | 886.5 | 764.8 | |||||
Expenses | |||||||||
Other Operation | 26.4 | 29.6 | 55.4 | 55.1 | |||||
Maintenance | 4.3 | 3.8 | 9.2 | 7.1 | |||||
Depreciation and Amortization | 96.4 | 85.7 | 191.6 | 168.8 | |||||
Taxes Other Than Income Taxes | 68 | 68.7 | 142.8 | 134.3 | |||||
TOTAL EXPENSES | 195.1 | 187.8 | 399 | 365.3 | |||||
OPERATING INCOME (LOSS) | 249.8 | 176.6 | 487.5 | 399.5 | |||||
Other Income (Expense): | |||||||||
Interest Income | 2.6 | 0.2 | 4.1 | 0.3 | |||||
Allowance for Equity Funds Used During Construction | 23.1 | 15.3 | 39.5 | 30.9 | |||||
Interest Expense | (50.7) | (39.3) | (95.9) | (77) | |||||
INCOME BEFORE INCOME TAX EXPENSE AND EQUITY EARNINGS | 224.8 | 152.8 | 435.2 | 353.7 | |||||
Income Tax Expense (Benefit) | 49.1 | 34.3 | 96.8 | 79.8 | |||||
Net Income (Loss) | 175.7 | 118.5 | 338.4 | 273.9 | |||||
Earnings Per Share | |||||||||
Revenues from Related Parties, Net of Provisions for Refund | 357.5 | 287.1 | 710.1 | 602.5 | |||||
AEP Transmission Co [Member] | Related Party | |||||||||
Revenues | |||||||||
Revenue from Contracts with Customers | 365.8 | 333.9 | 723.2 | 658.9 | |||||
AEP Transmission Co [Member] | AEPTCo Parent [Member] | |||||||||
Revenues | |||||||||
Revenue from Contracts with Customers | 0 | 0 | 0 | 0 | |||||
TOTAL REVENUES | 0 | 0 | 0 | 0 | |||||
Other Income (Expense): | |||||||||
Net Income (Loss) | [12] | 1.5 | 0.1 | 2.6 | 0.1 | ||||
AEP Transmission Co [Member] | AEPTCo Parent [Member] | Related Party | |||||||||
Revenues | |||||||||
Revenue from Contracts with Customers | 0 | 0 | 0 | 0 | |||||
AEP Transmission Co [Member] | State Transcos [Member] | |||||||||
Revenues | |||||||||
TOTAL REVENUES | 444.9 | 364.4 | 886.5 | 764.8 | |||||
Other Income (Expense): | |||||||||
Net Income (Loss) | 174.2 | 118.4 | 335.8 | 273.8 | |||||
AEP Transmission Co [Member] | State Transcos [Member] | Related Party | |||||||||
Revenues | |||||||||
Revenue from Contracts with Customers | 357.5 | 287.1 | 710.1 | 602.5 | |||||
AEP Transmission Co [Member] | Transmission [Member] | |||||||||
Revenues | |||||||||
Revenue from Contracts with Customers | 90.2 | 85.6 | 180.2 | 172.6 | |||||
Earnings Per Share | |||||||||
Revenue from Contract with Customers, Net of Provisions for Refund, Including Assessed Tax | 87.4 | 77.3 | 176.4 | 162.3 | |||||
AEP Transmission Co [Member] | Transmission [Member] | State Transcos [Member] | |||||||||
Revenues | |||||||||
Revenue from Contracts with Customers | 87.4 | 77.3 | 176.4 | 162.3 | |||||
AEP Transmission Co [Member] | Other Revenues [Member] | |||||||||
Revenues | |||||||||
TOTAL REVENUES | 0 | [8] | 0 | [9] | 0 | [10] | 0 | [11] | |
Appalachian Power Co [Member] | |||||||||
Revenues | |||||||||
TOTAL REVENUES | 826.5 | 773.6 | 1,814.2 | 1,680.9 | |||||
Expenses | |||||||||
Other Operation | 189.9 | 147.1 | 381.7 | 332 | |||||
Maintenance | 75.1 | 71.2 | 148.2 | 145.3 | |||||
Depreciation and Amortization | 138.1 | 142.9 | 281.1 | 288.1 | |||||
Taxes Other Than Income Taxes | 41.2 | 39.3 | 83 | 79.5 | |||||
TOTAL EXPENSES | 722.2 | 646.2 | 1,511.6 | 1,361.1 | |||||
OPERATING INCOME (LOSS) | 104.3 | 127.4 | 302.6 | 319.8 | |||||
Other Income (Expense): | |||||||||
Interest Income | 0.8 | 0.3 | 1.4 | 0.4 | |||||
Allowance for Equity Funds Used During Construction | 2.7 | 2.6 | 5.1 | 4.6 | |||||
Non-Service Cost Components of Net Periodic Benefit Cost | 8.2 | 7.2 | 16.3 | 14.5 | |||||
Interest Expense | (66.9) | (55.1) | (132.2) | (109.4) | |||||
INCOME BEFORE INCOME TAX EXPENSE AND EQUITY EARNINGS | 49.1 | 82.4 | 193.2 | 229.9 | |||||
Income Tax Expense (Benefit) | 6.2 | (7.8) | 37.8 | 19.5 | |||||
Net Income (Loss) | 42.9 | 90.2 | 155.4 | 210.4 | |||||
Earnings Per Share | |||||||||
Cash Flow Hedges, Tax | 0 | 0 | (0.1) | (0.1) | |||||
Amortization of Pension and OPEB Deferred Costs, Tax | (0.2) | (0.3) | (0.4) | (0.6) | |||||
Appalachian Power Co [Member] | Related Party | |||||||||
Revenues | |||||||||
Revenue from Contracts with Customers | 61.1 | 63.1 | 130.7 | 120 | |||||
Appalachian Power Co [Member] | Vertically Integrated Utilities [Member] | |||||||||
Revenues | |||||||||
Revenue from Contracts with Customers | 762.5 | 704.9 | 1,677 | 1,552 | |||||
Appalachian Power Co [Member] | Other Revenues [Member] | |||||||||
Revenues | |||||||||
Revenue from Contracts with Customers | 2.9 | 5.6 | 6.5 | 8.9 | |||||
TOTAL REVENUES | 0 | [8] | 0 | [9] | 0 | [10] | 0.1 | [11] | |
Appalachian Power Co [Member] | Fuel and Other Consumables Used for Electric Generation [Member] | |||||||||
Expenses | |||||||||
Cost of Goods and Services Sold | 277.9 | 245.7 | 617.6 | 516.2 | |||||
Indiana Michigan Power Co [Member] | |||||||||
Revenues | |||||||||
TOTAL REVENUES | 599.2 | 631 | 1,262.2 | 1,256.2 | |||||
Expenses | |||||||||
Purchased Electricity from AEP Affiliates | 37.1 | 59.6 | 82.2 | 116.7 | |||||
Other Operation | 170.1 | 149.2 | 339.8 | 288.5 | |||||
Maintenance | 57.1 | 60.8 | 115.7 | 111.8 | |||||
Depreciation and Amortization | 111 | 133.7 | 236.2 | 268.6 | |||||
Taxes Other Than Income Taxes | 20.6 | 28.6 | 40.1 | 53.8 | |||||
TOTAL EXPENSES | 489.8 | 542.8 | 1,007.1 | 1,056 | |||||
OPERATING INCOME (LOSS) | 109.4 | 88.2 | 255.1 | 200.2 | |||||
Other Income (Expense): | |||||||||
Other Income | 3 | 2.4 | 3.6 | 5 | |||||
Allowance for Equity Funds Used During Construction | 2.8 | 5.4 | |||||||
Non-Service Cost Components of Net Periodic Benefit Cost | 7.7 | 6.2 | 15.7 | 12.5 | |||||
Interest Expense | (35.8) | (31) | (69) | (61.3) | |||||
INCOME BEFORE INCOME TAX EXPENSE AND EQUITY EARNINGS | 84.3 | 65.8 | 205.4 | 156.4 | |||||
Income Tax Expense (Benefit) | 9.5 | (1.4) | 27.8 | (0.3) | |||||
Net Income (Loss) | 74.8 | 67.2 | 177.6 | 156.7 | |||||
Earnings Per Share | |||||||||
Acquisition Of Nuclear Fuel Included In Current Liabilities | (36) | 0 | |||||||
Cash Flow Hedges, Tax | 0 | 0.1 | (0.2) | 0.2 | |||||
Amortization of Pension and OPEB Deferred Costs, Tax | (0.1) | 0 | (0.6) | 0 | |||||
Indiana Michigan Power Co [Member] | Vertically Integrated Utilities [Member] | |||||||||
Revenues | |||||||||
Revenue from Contracts with Customers | 580.4 | 604.4 | 1,223.2 | 1,216.4 | |||||
Indiana Michigan Power Co [Member] | Other Revenues [Member] | |||||||||
Revenues | |||||||||
Revenue from Contracts with Customers | 2.4 | 2.8 | 5.5 | 5.6 | |||||
TOTAL REVENUES | 0 | [8] | 0 | [9] | 0 | [10] | (0.1) | [11] | |
Indiana Michigan Power Co [Member] | Other Revenues [Member] | Related Party | |||||||||
Revenues | |||||||||
Revenue from Contracts with Customers | 19 | 35 | 29 | ||||||
Indiana Michigan Power Co [Member] | Purchased Electricity, Fuel and Other Consumables Used for Electric Generation [Member] | |||||||||
Expenses | |||||||||
Cost of Goods and Services Sold | 93.9 | 110.9 | 193.1 | 216.6 | |||||
Ohio Power Co [Member] | |||||||||
Revenues | |||||||||
TOTAL REVENUES | 879.1 | 822.9 | 1,913.7 | 1,652.9 | |||||
Expenses | |||||||||
Purchased Electricity from AEP Affiliates | 11.6 | 3.5 | 11.6 | 9.8 | |||||
Other Operation | 265.4 | 223.3 | 539.2 | 460.9 | |||||
Maintenance | 51.2 | 48.5 | 95.5 | 88.9 | |||||
Depreciation and Amortization | 68.2 | 71.3 | 143.4 | 146.2 | |||||
Taxes Other Than Income Taxes | 114.2 | 121 | 249.5 | 248 | |||||
TOTAL EXPENSES | 778.2 | 716.8 | 1,699.4 | 1,429.3 | |||||
OPERATING INCOME (LOSS) | 100.9 | 106.1 | 214.3 | 223.6 | |||||
Other Income (Expense): | |||||||||
Other Income | 0.2 | 0.6 | 0.3 | 0.8 | |||||
Allowance for Equity Funds Used During Construction | 2.9 | 3.4 | 5.7 | 6.4 | |||||
Non-Service Cost Components of Net Periodic Benefit Cost | 6.5 | 5.5 | 13 | 11 | |||||
Interest Expense | (31.9) | (29.8) | (63) | (59) | |||||
INCOME BEFORE INCOME TAX EXPENSE AND EQUITY EARNINGS | 78.6 | 85.8 | 170.3 | 182.8 | |||||
Income Tax Expense (Benefit) | 10.9 | 11.8 | 24.6 | 25.6 | |||||
Equity Earnings (Loss) of Unconsolidated Subsidiaries | 0 | 0.8 | 0 | 0.8 | |||||
Net Income (Loss) | 67.7 | 74.8 | 145.7 | 158 | |||||
Ohio Power Co [Member] | Related Party | |||||||||
Revenues | |||||||||
Revenue from Contracts with Customers | 8.2 | 3.9 | 15.8 | 7.6 | |||||
Ohio Power Co [Member] | Transmission and Distribution Utilities [Member] | |||||||||
Revenues | |||||||||
Revenue from Contracts with Customers | 868.8 | 817.2 | 1,890.6 | 1,641.4 | |||||
Ohio Power Co [Member] | Other Revenues [Member] | |||||||||
Revenues | |||||||||
Revenue from Contracts with Customers | 2.1 | 1.8 | 7.3 | 3.9 | |||||
TOTAL REVENUES | 6 | [8] | 6.8 | [9] | 17.1 | [10] | 13.1 | [11] | |
Ohio Power Co [Member] | Purchased Electricity, Fuel and Other Consumables Used for Electric Generation [Member] | |||||||||
Expenses | |||||||||
Cost of Goods and Services Sold | 267.6 | 249.2 | 660.2 | 475.5 | |||||
Public Service Co Of Oklahoma [Member] | |||||||||
Revenues | |||||||||
TOTAL REVENUES | 474.7 | 442.9 | 891.7 | 830.5 | |||||
Expenses | |||||||||
Other Operation | 87.5 | 95.9 | 179.6 | 184.7 | |||||
Maintenance | 28.5 | 31.3 | 57.3 | 56.7 | |||||
Depreciation and Amortization | 64.9 | 60.5 | 126 | 113.2 | |||||
Taxes Other Than Income Taxes | 15 | 13.8 | 32.3 | 28 | |||||
TOTAL EXPENSES | 419 | 393.4 | 818.4 | 763.2 | |||||
OPERATING INCOME (LOSS) | 55.7 | 49.5 | 73.3 | 67.3 | |||||
Other Income (Expense): | |||||||||
Interest Income | 0.1 | 2.5 | 1.1 | 4.2 | |||||
Allowance for Equity Funds Used During Construction | 1.4 | 0.2 | 2.9 | 1.3 | |||||
Non-Service Cost Components of Net Periodic Benefit Cost | 3.5 | 3.2 | 7.1 | 6.3 | |||||
Interest Expense | (26.8) | (21.3) | (52) | (40.2) | |||||
INCOME BEFORE INCOME TAX EXPENSE AND EQUITY EARNINGS | 33.9 | 34.1 | 32.4 | 38.9 | |||||
Income Tax Expense (Benefit) | (17.1) | (8.9) | (16.3) | (9.9) | |||||
Net Income (Loss) | 51 | 43 | 48.7 | 48.8 | |||||
Earnings Per Share | |||||||||
Cash Flow Hedges, Tax | 0 | 0 | (0.4) | 0 | |||||
Public Service Co Of Oklahoma [Member] | Related Party | |||||||||
Revenues | |||||||||
Revenue from Contracts with Customers | 0.1 | 0.8 | 0.8 | 1.4 | |||||
Public Service Co Of Oklahoma [Member] | Vertically Integrated Utilities [Member] | |||||||||
Revenues | |||||||||
Revenue from Contracts with Customers | 472.4 | 440 | 887.2 | 826.4 | |||||
Public Service Co Of Oklahoma [Member] | Other Revenues [Member] | |||||||||
Revenues | |||||||||
Revenue from Contracts with Customers | 2.2 | 2.1 | 3.7 | 2.7 | |||||
TOTAL REVENUES | 0 | [8] | 0 | [9] | 0 | [10] | 0 | [11] | |
Public Service Co Of Oklahoma [Member] | Purchased Electricity, Fuel and Other Consumables Used for Electric Generation [Member] | |||||||||
Expenses | |||||||||
Cost of Goods and Services Sold | 223.1 | 191.9 | 423.2 | 380.6 | |||||
Southwestern Electric Power Co [Member] | |||||||||
Revenues | |||||||||
TOTAL REVENUES | 537.8 | 536.6 | 1,053.7 | 1,031.4 | |||||
Expenses | |||||||||
Other Operation | 85.2 | 103.1 | 184.4 | 194.6 | |||||
Maintenance | 45 | 44.8 | 82.7 | 74.9 | |||||
Depreciation and Amortization | 85.8 | 78.2 | 166.2 | 156 | |||||
Taxes Other Than Income Taxes | 32.1 | 30.9 | 68.2 | 60.7 | |||||
TOTAL EXPENSES | 438 | 437 | 900.7 | 864.4 | |||||
OPERATING INCOME (LOSS) | 99.8 | 99.6 | 153 | 167 | |||||
Other Income (Expense): | |||||||||
Interest Income | 5.3 | 7.6 | 10.7 | 11.2 | |||||
Allowance for Equity Funds Used During Construction | 2.5 | 0.8 | 3 | 2.4 | |||||
Non-Service Cost Components of Net Periodic Benefit Cost | 3.4 | 3.1 | 6.8 | 6.2 | |||||
Interest Expense | (40.1) | (33.7) | (65.1) | (66.8) | |||||
INCOME BEFORE INCOME TAX EXPENSE AND EQUITY EARNINGS | 70.9 | 77.4 | 108.4 | 120 | |||||
Income Tax Expense (Benefit) | (10) | (1) | (14) | (3.2) | |||||
Equity Earnings (Loss) of Unconsolidated Subsidiaries | 0.4 | 0.4 | 0.7 | 0.7 | |||||
Net Income (Loss) | 81.3 | 78.8 | 123.1 | 123.9 | |||||
Net Income (Loss) Attributable to Noncontrolling Interests | 0.3 | 2.1 | 1.5 | 3.1 | |||||
Earnings Attributable to Common Shareholders | 81 | 76.7 | 121.6 | 120.8 | |||||
Earnings Per Share | |||||||||
Cash Flow Hedges, Tax | 0 | 0 | 0.1 | 0 | |||||
Amortization of Pension and OPEB Deferred Costs, Tax | (0.1) | (0.1) | (0.2) | (0.2) | |||||
Southwestern Electric Power Co [Member] | Vertically Integrated Utilities [Member] | |||||||||
Revenues | |||||||||
Revenue from Contracts with Customers | 522.5 | 520.7 | 1,026.2 | 1,004.9 | |||||
Southwestern Electric Power Co [Member] | Other Revenues [Member] | |||||||||
Revenues | |||||||||
Revenue from Contracts with Customers | 0.8 | 0.4 | 1.3 | 1 | |||||
TOTAL REVENUES | 0 | [8] | 0 | [9] | 0 | [10] | 0 | [11] | |
Southwestern Electric Power Co [Member] | Purchased Electricity, Fuel and Other Consumables Used for Electric Generation [Member] | |||||||||
Expenses | |||||||||
Cost of Goods and Services Sold | 189.9 | 180 | 399.2 | 378.2 | |||||
Mineral Rights | |||||||||
Expenses | |||||||||
Gain on Sale of Mineral Rights | 0 | (116.3) | |||||||
Reconciling Adjustments [Member] | |||||||||
Revenues | |||||||||
Revenue from Contracts with Customers | 0 | 0 | 0 | 0 | |||||
TOTAL REVENUES | (464.2) | (373.3) | (907.9) | (765.5) | |||||
Other Income (Expense): | |||||||||
Net Income (Loss) | 0 | 0 | 0 | 0 | |||||
Reconciling Adjustments [Member] | Related Party | |||||||||
Revenues | |||||||||
Revenue from Contracts with Customers | (464.2) | (373.3) | (907.9) | (765.5) | |||||
Reconciling Adjustments [Member] | Other Revenues [Member] | |||||||||
Revenues | |||||||||
TOTAL REVENUES | (2) | [1] | (2) | [2],[3] | (2.9) | [4],[5] | (4.9) | [6],[7] | |
Reconciling Adjustments [Member] | AEP Transmission Co [Member] | |||||||||
Revenues | |||||||||
Revenue from Contracts with Customers | 0 | 0 | 0 | 0 | |||||
TOTAL REVENUES | 0 | 0 | 0 | 0 | |||||
Other Income (Expense): | |||||||||
Net Income (Loss) | 0 | 0 | 0 | 0 | |||||
Reconciling Adjustments [Member] | AEP Transmission Co [Member] | Related Party | |||||||||
Revenues | |||||||||
Revenue from Contracts with Customers | 0 | 0 | 0 | 0 | |||||
Competitive Contracted Renewable Portfolio | |||||||||
Expenses | |||||||||
Asset Impairments and Other Related Charges | $ 0 | $ 0 | $ 112 | $ 0 | |||||
[1]Amounts include affiliated and nonaffiliated revenues.[2]Amounts include affiliated and nonaffiliated revenues[3]Generation & Marketing includes economic hedge activity.[4]Amounts include affiliated and nonaffiliated revenues.[5]Generation & Marketing includes economic hedge activity.[6]Amounts include affiliated and nonaffiliated revenues.[7]Generation & Marketing includes economic hedge activity.[8]Amounts include affiliated and nonaffiliated revenues.[9]Amounts include affiliated and nonaffiliated revenues.[10]Amounts include affiliated and nonaffiliated revenues.[11]Amounts include affiliated and nonaffiliated revenues.[12]Includes the elimination of AEPTCo Parent’s equity earnings in the State Transcos. |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Net Income (Loss) | $ 516.1 | $ 520.8 | $ 916.5 | $ 1,238.9 |
OTHER COMPREHENSIVE INCOME | ||||
Cash Flow Hedges, Net of Tax | 34.8 | 132.4 | (117.6) | 380.4 |
Amortization of Pension and OPEB Deferred Costs, Net of Tax | (3.1) | (11.6) | (19.2) | (13.8) |
Reclassifications of KPCo Pension and OPEB Regulatory Assets, Net of Tax | 0 | 0 | 16.7 | 0 |
Other Comprehensive Income (Loss), Net of Tax, Total | 31.7 | 120.8 | (120.1) | 366.6 |
TOTAL COMPREHENSIVE INCOME (LOSS) | 547.8 | 641.6 | 796.4 | 1,605.5 |
Total Comprehensive Income (Loss) Attributable to Noncontrolling Interest | (5.1) | (3.7) | (1.7) | (0.3) |
TOTAL COMPREHENSIVE INCOME (LOSS) ATTRIBUTABLE TO COMMON SHAREHOLDERS | 552.9 | 645.3 | 798.1 | 1,605.8 |
Cash Flow Hedges, Tax | 9.3 | 35.2 | (31.2) | 101.1 |
Amortization of Pension and OPEB Deferred Costs, Tax | (0.8) | (3.1) | (5.1) | (3.7) |
Reclassifications of KPCo Pension and OPEB Regulatory Assets, Tax | 0 | 0 | 4.4 | 0 |
Appalachian Power Co [Member] | ||||
Net Income (Loss) | 42.9 | 90.2 | 155.4 | 210.4 |
OTHER COMPREHENSIVE INCOME | ||||
Cash Flow Hedges, Net of Tax | (0.2) | (0.2) | (0.4) | (0.4) |
Amortization of Pension and OPEB Deferred Costs, Net of Tax | (0.8) | (1) | (1.6) | (2.1) |
Other Comprehensive Income (Loss), Net of Tax, Total | (1) | (1.2) | (2) | (2.5) |
TOTAL COMPREHENSIVE INCOME (LOSS) | 41.9 | 89 | 153.4 | 207.9 |
Cash Flow Hedges, Tax | 0 | 0 | (0.1) | (0.1) |
Amortization of Pension and OPEB Deferred Costs, Tax | (0.2) | (0.3) | (0.4) | (0.6) |
AEP Texas Inc. [Member] | ||||
Net Income (Loss) | 109.1 | 90 | 156.7 | 159.6 |
OTHER COMPREHENSIVE INCOME | ||||
Cash Flow Hedges, Net of Tax | 3.2 | 0.2 | 3.2 | 0.5 |
Amortization of Pension and OPEB Deferred Costs, Net of Tax | 0 | 0 | (0.6) | 0 |
Other Comprehensive Income (Loss), Net of Tax, Total | 3.2 | 0.2 | 2.6 | 0.5 |
TOTAL COMPREHENSIVE INCOME (LOSS) | 112.3 | 90.2 | 159.3 | 160.1 |
Cash Flow Hedges, Tax | 0.8 | 0 | 0.8 | 0.1 |
Amortization of Pension and OPEB Deferred Costs, Tax | 0 | 0 | (0.1) | 0 |
Indiana Michigan Power Co [Member] | ||||
Net Income (Loss) | 74.8 | 67.2 | 177.6 | 156.7 |
OTHER COMPREHENSIVE INCOME | ||||
Cash Flow Hedges, Net of Tax | 0.1 | 0.4 | (0.6) | 0.8 |
Amortization of Pension and OPEB Deferred Costs, Net of Tax | (0.3) | (0.1) | (2.2) | (0.2) |
Other Comprehensive Income (Loss), Net of Tax, Total | (0.2) | 0.3 | (2.8) | 0.6 |
TOTAL COMPREHENSIVE INCOME (LOSS) | 74.6 | 67.5 | 174.8 | 157.3 |
Cash Flow Hedges, Tax | 0 | 0.1 | (0.2) | 0.2 |
Amortization of Pension and OPEB Deferred Costs, Tax | (0.1) | 0 | (0.6) | 0 |
Ohio Power Co [Member] | ||||
Net Income (Loss) | 67.7 | 74.8 | 145.7 | 158 |
Public Service Co Of Oklahoma [Member] | ||||
Net Income (Loss) | 51 | 43 | 48.7 | 48.8 |
OTHER COMPREHENSIVE INCOME | ||||
Cash Flow Hedges, Net of Tax | 0 | 0 | (1.5) | 0 |
TOTAL COMPREHENSIVE INCOME (LOSS) | 51 | 43 | 47.2 | 48.8 |
Cash Flow Hedges, Tax | 0 | 0 | (0.4) | 0 |
Southwestern Electric Power Co [Member] | ||||
Net Income (Loss) | 81.3 | 78.8 | 123.1 | 123.9 |
OTHER COMPREHENSIVE INCOME | ||||
Cash Flow Hedges, Net of Tax | (0.1) | (0.1) | 0.3 | 0 |
Amortization of Pension and OPEB Deferred Costs, Net of Tax | (0.3) | (0.4) | (0.6) | (0.8) |
Other Comprehensive Income (Loss), Net of Tax, Total | (0.4) | (0.5) | (0.3) | (0.8) |
TOTAL COMPREHENSIVE INCOME (LOSS) | 80.9 | 78.3 | 122.8 | 123.1 |
Total Comprehensive Income (Loss) Attributable to Noncontrolling Interest | 0.3 | 2.1 | 1.5 | 3.1 |
TOTAL COMPREHENSIVE INCOME (LOSS) ATTRIBUTABLE TO COMMON SHAREHOLDERS | 80.6 | 76.2 | 121.3 | 120 |
Cash Flow Hedges, Tax | 0 | 0 | 0.1 | 0 |
Amortization of Pension and OPEB Deferred Costs, Tax | (0.1) | (0.1) | (0.2) | (0.2) |
Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member] | ||||
OTHER COMPREHENSIVE INCOME | ||||
Other Comprehensive Income (Loss), Net of Tax, Total | $ (3.1) | $ (11.6) | $ (2.5) | $ (13.8) |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Changes in Equity - USD ($) | Total | Vertically Integrated Utilities [Member] | Transmission and Distribution Utilities [Member] | Generation and Marketing Revenues [Member] | Other Revenues [Member] | Reconciling Adjustments [Member] | Reconciling Adjustments [Member] Other Revenues [Member] | Generation And Marketing [Member] | Generation And Marketing [Member] Generation and Marketing Revenues [Member] | Generation And Marketing [Member] Other Revenues [Member] | Other Segments [Member] | [2] | Other Segments [Member] Other Revenues [Member] | Transmission Operations [Member] | Transmission Operations [Member] Transmission [Member] | Transmission And Distribution Utilities [Member] | Transmission And Distribution Utilities [Member] Transmission and Distribution Utilities [Member] | Transmission And Distribution Utilities [Member] Other Revenues [Member] | Vertically Integrated Utilities [Member] | Vertically Integrated Utilities [Member] Vertically Integrated Utilities [Member] | Vertically Integrated Utilities [Member] Other Revenues [Member] | Appalachian Power Co [Member] | Appalachian Power Co [Member] Vertically Integrated Utilities [Member] | Appalachian Power Co [Member] Other Revenues [Member] | AEP Texas Inc. [Member] | AEP Texas Inc. [Member] Transmission and Distribution Utilities [Member] | AEP Texas Inc. [Member] Other Revenues [Member] | AEP Transmission Co [Member] | AEP Transmission Co [Member] Transmission [Member] | AEP Transmission Co [Member] Other Revenues [Member] | AEP Transmission Co [Member] Reconciling Adjustments [Member] | AEP Transmission Co [Member] State Transcos [Member] | AEP Transmission Co [Member] State Transcos [Member] Transmission [Member] | AEP Transmission Co [Member] AEPTCo Parent [Member] | Indiana Michigan Power Co [Member] | Indiana Michigan Power Co [Member] Related Party | Indiana Michigan Power Co [Member] Vertically Integrated Utilities [Member] | Indiana Michigan Power Co [Member] Other Revenues [Member] | Indiana Michigan Power Co [Member] Other Revenues [Member] Related Party | Ohio Power Co [Member] | Ohio Power Co [Member] Transmission and Distribution Utilities [Member] | Ohio Power Co [Member] Other Revenues [Member] | Public Service Co Of Oklahoma [Member] | Public Service Co Of Oklahoma [Member] Vertically Integrated Utilities [Member] | Public Service Co Of Oklahoma [Member] Other Revenues [Member] | Southwestern Electric Power Co [Member] | Southwestern Electric Power Co [Member] Related Party | Southwestern Electric Power Co [Member] Vertically Integrated Utilities [Member] | Southwestern Electric Power Co [Member] Other Revenues [Member] | Common Stock [Member] | Common Stock [Member] Appalachian Power Co [Member] | Common Stock [Member] Indiana Michigan Power Co [Member] | Common Stock [Member] Ohio Power Co [Member] | Common Stock [Member] Public Service Co Of Oklahoma [Member] | Common Stock [Member] Southwestern Electric Power Co [Member] | Additional Paid-in Capital [Member] | Additional Paid-in Capital [Member] Appalachian Power Co [Member] | Additional Paid-in Capital [Member] AEP Texas Inc. [Member] | Additional Paid-in Capital [Member] AEP Transmission Co [Member] | Additional Paid-in Capital [Member] Indiana Michigan Power Co [Member] | Additional Paid-in Capital [Member] Ohio Power Co [Member] | Additional Paid-in Capital [Member] Public Service Co Of Oklahoma [Member] | Additional Paid-in Capital [Member] Southwestern Electric Power Co [Member] | Retained Earnings [Member] | Retained Earnings [Member] Appalachian Power Co [Member] | Retained Earnings [Member] AEP Texas Inc. [Member] | Retained Earnings [Member] AEP Transmission Co [Member] | Retained Earnings [Member] Indiana Michigan Power Co [Member] | Retained Earnings [Member] Ohio Power Co [Member] | Retained Earnings [Member] Public Service Co Of Oklahoma [Member] | Retained Earnings [Member] Southwestern Electric Power Co [Member] | Accumulated Other Comprehensive Income [Member] | Accumulated Other Comprehensive Income [Member] Appalachian Power Co [Member] | Accumulated Other Comprehensive Income [Member] AEP Texas Inc. [Member] | Accumulated Other Comprehensive Income [Member] Indiana Michigan Power Co [Member] | Accumulated Other Comprehensive Income [Member] Public Service Co Of Oklahoma [Member] | Accumulated Other Comprehensive Income [Member] Southwestern Electric Power Co [Member] | Noncontrolling Interests [Member] | Noncontrolling Interests [Member] Southwestern Electric Power Co [Member] | |||||||||||||||
Beginning Balance at Dec. 31, 2021 | $ 5,376,100,000 | $ 2,949,600,000 | $ 2,426,500,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Beginning Balance at Dec. 31, 2021 | $ 22,680,200,000 | $ 4,647,900,000 | $ 3,594,200,000 | $ 2,784,700,000 | $ 2,846,300,000 | $ 2,291,600,000 | $ 3,149,800,000 | $ 3,408,700,000 | $ 260,400,000 | $ 56,600,000 | $ 321,200,000 | $ 157,200,000 | $ 100,000 | $ 7,172,600,000 | $ 1,828,700,000 | $ 1,553,900,000 | $ 980,900,000 | $ 838,800,000 | $ 1,039,000,000 | $ 1,092,200,000 | $ 11,667,100,000 | $ 2,534,400,000 | $ 2,046,800,000 | $ 1,748,500,000 | $ 1,686,300,000 | $ 1,095,400,000 | $ 2,050,900,000 | $ 184,800,000 | $ 24,400,000 | $ (6,500,000) | $ (1,300,000) | $ 0 | $ 6,700,000 | $ 247,000,000 | $ (100,000) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Beginning Balance, Shares at Dec. 31, 2021 | 524,400,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issuance of Common Stock, Value | 809,500,000 | $ 2,400,000 | 807,100,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issuance of Common Stock, Shares | 400,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common Stock Dividends | (398,800,000) | (395,200,000) | [1] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common Stock Dividends | (18,800,000) | (25,000,000) | (15,000,000) | (18,800,000) | (25,000,000) | (15,000,000) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common Stock Dividends | (800,000) | (3,600,000) | (800,000) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Changes in Equity | (16,700,000) | (15,200,000) | (1,500,000) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Capital Contribution from Member | 350,000,000 | 350,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Dividends Paid on Common Stock | (40,000,000) | (40,000,000) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net Income (Loss) | 714,700,000 | 44,100,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net Income (Loss) Attributable to Noncontrolling Interests | 3,400,000 | 1,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net Income (Loss) | 718,100,000 | 120,200,000 | 69,600,000 | 155,400,000 | 89,500,000 | 83,200,000 | 5,800,000 | 45,100,000 | 120,200,000 | 69,600,000 | 155,400,000 | 89,500,000 | 83,200,000 | 5,800,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Comprehensive Income (Loss) | 245,800,000 | (1,300,000) | 300,000 | 300,000 | (300,000) | 245,800,000 | (1,300,000) | 300,000 | 300,000 | (300,000) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Ending Balance at Mar. 31, 2022 | 5,491,500,000 | 2,949,600,000 | 2,541,900,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Ending Balance at Mar. 31, 2022 | $ 24,038,100,000 | 4,748,000,000 | 3,664,100,000 | 2,849,500,000 | 2,914,500,000 | 2,297,400,000 | 3,543,800,000 | $ 3,411,100,000 | 260,400,000 | 56,600,000 | 321,200,000 | 157,200,000 | 100,000 | 7,964,500,000 | 1,828,700,000 | 1,553,900,000 | 980,900,000 | 838,800,000 | 1,039,000,000 | 1,442,200,000 | 11,985,100,000 | 2,635,800,000 | 2,116,400,000 | 1,813,000,000 | 1,754,500,000 | 1,101,200,000 | 2,095,000,000 | 430,600,000 | 23,100,000 | (6,200,000) | (1,000,000) | 0 | 6,400,000 | 246,800,000 | 100,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Ending Balance, Shares at Mar. 31, 2022 | 524,800,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common Stock, Dividends Per Share, Declared | $ 0.78 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Beginning Balance at Dec. 31, 2021 | 5,376,100,000 | 2,949,600,000 | 2,426,500,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Beginning Balance at Dec. 31, 2021 | $ 22,680,200,000 | 4,647,900,000 | 3,594,200,000 | 2,784,700,000 | 2,846,300,000 | 2,291,600,000 | 3,149,800,000 | $ 3,408,700,000 | 260,400,000 | 56,600,000 | 321,200,000 | 157,200,000 | 100,000 | 7,172,600,000 | 1,828,700,000 | 1,553,900,000 | 980,900,000 | 838,800,000 | 1,039,000,000 | 1,092,200,000 | 11,667,100,000 | 2,534,400,000 | 2,046,800,000 | 1,748,500,000 | 1,686,300,000 | 1,095,400,000 | 2,050,900,000 | 184,800,000 | 24,400,000 | (6,500,000) | (1,300,000) | 0 | 6,700,000 | 247,000,000 | (100,000) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Beginning Balance, Shares at Dec. 31, 2021 | 524,400,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Dividends Paid on Common Stock | (37,500,000) | (90,000,000) | (50,000,000) | (30,000,000) | 0 | (12,500,000) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net Income (Loss) | 1,239,200,000 | 120,800,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net Income (Loss) Attributable to Noncontrolling Interests | (300,000) | 3,100,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net Income (Loss) | 1,238,900,000 | $ 0 | $ 181,900,000 | $ (179,500,000) | $ 316,400,000 | $ 317,600,000 | $ 602,500,000 | 210,400,000 | 159,600,000 | 273,900,000 | $ 0 | $ 273,800,000 | $ 100,000 | [3] | 156,700,000 | 158,000,000 | 48,800,000 | 123,900,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Comprehensive Income (Loss) | 366,600,000 | (2,500,000) | 500,000 | 600,000 | (800,000) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Ending Balance at Jun. 30, 2022 | 5,562,800,000 | 2,952,400,000 | 2,610,400,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Ending Balance at Jun. 30, 2022 | 24,297,000,000 | 4,821,100,000 | 3,755,600,000 | 2,893,300,000 | 2,975,000,000 | 2,342,600,000 | 3,611,100,000 | $ 3,412,000,000 | 260,400,000 | 56,600,000 | 321,200,000 | 157,200,000 | 100,000 | 7,984,000,000 | 1,831,500,000 | 1,555,200,000 | 982,200,000 | 839,500,000 | 1,041,200,000 | 1,444,400,000 | 12,108,600,000 | 2,707,300,000 | 2,206,400,000 | 1,855,200,000 | 1,814,300,000 | 1,144,200,000 | 2,159,200,000 | 551,400,000 | 21,900,000 | (6,000,000) | (700,000) | 0 | 5,900,000 | 241,000,000 | 1,500,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Capital Contributions from Parent | 2,800,000 | 1,300,000 | 2,800,000 | 1,300,000 | 700,000 | 2,200,000 | 352,200,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Ending Balance, Shares at Jun. 30, 2022 | 524,900,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Revenue from Contracts with Customers | 9,232,300,000 | $ 5,241,800,000 | $ 2,539,000,000 | $ 1,263,900,000 | $ 187,600,000 | 0 | $ 1,263,900,000 | $ 25,100,000 | [2] | $ 162,500,000 | $ 2,539,000,000 | $ 5,241,800,000 | $ 1,552,000,000 | $ 8,900,000 | $ 891,600,000 | $ 2,200,000 | $ 172,600,000 | 0 | $ 162,300,000 | 0 | $ 9,100,000 | $ 1,216,400,000 | $ 5,600,000 | $ 25,100,000 | $ 1,641,400,000 | $ 3,900,000 | $ 826,400,000 | $ 2,700,000 | $ 25,500,000 | $ 1,004,900,000 | $ 1,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Revenues | 9,232,300,000 | 301,100,000 | [4],[5] | (765,500,000) | $ (4,900,000) | [4],[5] | 1,278,900,000 | $ 287,700,000 | [4],[5] | 44,400,000 | 5,100,000 | [4],[5] | 790,200,000 | 2,548,400,000 | $ 13,100,000 | [4],[5] | 5,335,900,000 | $ 100,000 | [4],[5] | 1,680,900,000 | 100,000 | [6] | 895,500,000 | 0 | [6] | 764,800,000 | $ 0 | [6] | 0 | 764,800,000 | 0 | 1,256,200,000 | (100,000) | [6] | 1,652,900,000 | 13,100,000 | [6] | 830,500,000 | 0 | [6] | 1,031,400,000 | 0 | [6] | |||||||||||||||||||||||||||||||||||||||||||||||||||
Revenue from Contract with Customers, Net of Provisions for Refund, Including Assessed Tax | 162,300,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Revenues from Related Parties, Net of Provisions for Refund | 602,500,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Beginning Balance at Mar. 31, 2022 | 5,491,500,000 | 2,949,600,000 | 2,541,900,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Beginning Balance at Mar. 31, 2022 | 24,038,100,000 | 4,748,000,000 | 3,664,100,000 | 2,849,500,000 | 2,914,500,000 | 2,297,400,000 | 3,543,800,000 | $ 3,411,100,000 | 260,400,000 | 56,600,000 | 321,200,000 | 157,200,000 | 100,000 | 7,964,500,000 | 1,828,700,000 | 1,553,900,000 | 980,900,000 | 838,800,000 | 1,039,000,000 | 1,442,200,000 | 11,985,100,000 | 2,635,800,000 | 2,116,400,000 | 1,813,000,000 | 1,754,500,000 | 1,101,200,000 | 2,095,000,000 | 430,600,000 | 23,100,000 | (6,200,000) | (1,000,000) | 0 | 6,400,000 | 246,800,000 | 100,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Beginning Balance, Shares at Mar. 31, 2022 | 524,800,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issuance of Common Stock, Value | 3,200,000 | $ 900,000 | 2,300,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issuance of Common Stock, Shares | 100,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common Stock Dividends | (404,700,000) | (402,600,000) | [1] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common Stock Dividends | (18,700,000) | (25,000,000) | (15,000,000) | (12,500,000) | (18,700,000) | (25,000,000) | (15,000,000) | (12,500,000) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common Stock Dividends | (700,000) | (2,100,000) | (700,000) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Changes in Equity | 18,800,000 | 17,200,000 | 1,600,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Capital Contribution from Member | 1,300,000 | 2,800,000 | 1,300,000 | 700,000 | 2,200,000 | 1,300,000 | 2,800,000 | 1,300,000 | 700,000 | 2,200,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Dividends Paid on Common Stock | (50,000,000) | (50,000,000) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net Income (Loss) | 524,500,000 | 76,700,000 | 524,500,000 | 76,700,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net Income (Loss) Attributable to Noncontrolling Interests | (3,700,000) | 2,100,000 | (3,700,000) | 2,100,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net Income (Loss) | 520,800,000 | 0 | 65,900,000 | (155,900,000) | 142,700,000 | 164,800,000 | 303,300,000 | 90,200,000 | 90,000,000 | 118,500,000 | 0 | 118,400,000 | 100,000 | [3] | 67,200,000 | 74,800,000 | 43,000,000 | 78,800,000 | 90,200,000 | 90,000,000 | 118,500,000 | 67,200,000 | 74,800,000 | 43,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Comprehensive Income (Loss) | 120,800,000 | (1,200,000) | 200,000 | 300,000 | (500,000) | 120,800,000 | (1,200,000) | 200,000 | 300,000 | (500,000) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Ending Balance at Jun. 30, 2022 | 5,562,800,000 | 2,952,400,000 | 2,610,400,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Ending Balance at Jun. 30, 2022 | $ 24,297,000,000 | 4,821,100,000 | 3,755,600,000 | 2,893,300,000 | 2,975,000,000 | 2,342,600,000 | 3,611,100,000 | $ 3,412,000,000 | 260,400,000 | 56,600,000 | 321,200,000 | 157,200,000 | 100,000 | 7,984,000,000 | 1,831,500,000 | 1,555,200,000 | 982,200,000 | 839,500,000 | 1,041,200,000 | 1,444,400,000 | 12,108,600,000 | 2,707,300,000 | 2,206,400,000 | 1,855,200,000 | 1,814,300,000 | 1,144,200,000 | 2,159,200,000 | 551,400,000 | 21,900,000 | (6,000,000) | (700,000) | 0 | 5,900,000 | 241,000,000 | 1,500,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Capital Contributions from Parent | 2,800,000 | 2,200,000 | 2,800,000 | 2,200,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Ending Balance, Shares at Jun. 30, 2022 | 524,900,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common Stock, Dividends Per Share, Declared | $ 0.78 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Revenue from Contracts with Customers | $ 4,639,700,000 | 2,595,000,000 | 1,296,800,000 | 654,400,000 | 93,500,000 | 0 | 654,400,000 | 14,400,000 | [2] | 79,100,000 | 1,296,800,000 | 2,595,000,000 | 704,900,000 | 5,600,000 | 476,900,000 | 1,100,000 | 85,600,000 | 0 | 77,300,000 | 0 | 7,100,000 | 604,400,000 | 2,800,000 | 16,700,000 | 817,200,000 | 1,800,000 | 440,000,000 | 2,100,000 | 15,500,000 | 520,700,000 | 400,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Revenues | 4,639,700,000 | 135,700,000 | [7],[8] | (373,300,000) | (2,000,000) | [7],[8] | 659,600,000 | 128,500,000 | [7],[8] | 24,500,000 | 2,300,000 | [7],[8] | 378,800,000 | 1,301,600,000 | 6,800,000 | [7],[8] | 2,648,500,000 | 100,000 | [7],[8] | 773,600,000 | 0 | [9] | 478,800,000 | 0 | [9] | 364,400,000 | 0 | [9] | 0 | 364,400,000 | 0 | 631,000,000 | 0 | [9] | 822,900,000 | 6,800,000 | [9] | 442,900,000 | 0 | [9] | 536,600,000 | 0 | [9] | |||||||||||||||||||||||||||||||||||||||||||||||||||
Revenue from Contract with Customers, Net of Provisions for Refund, Including Assessed Tax | 77,300,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Revenues from Related Parties, Net of Provisions for Refund | 287,100,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Beginning Balance at Dec. 31, 2022 | 5,873,000,000 | 3,022,300,000 | 2,850,700,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Beginning Balance at Dec. 31, 2022 | $ 24,122,400,000 | 4,975,400,000 | 3,904,300,000 | 3,008,300,000 | 3,088,100,000 | $ 2,419,100,000 | 3,674,800,000 | $ 3,413,100,000 | 260,400,000 | 56,600,000 | 321,200,000 | 157,200,000 | 100,000 | 8,051,000,000 | 1,828,700,000 | 1,558,200,000 | 988,800,000 | 837,800,000 | 1,042,600,000 | 1,442,200,000 | 12,345,600,000 | 2,891,100,000 | 2,354,700,000 | 1,963,200,000 | 1,929,100,000 | 1,218,000,000 | 2,236,000,000 | 83,700,000 | (4,800,000) | (8,600,000) | (300,000) | 1,300,000 | (4,200,000) | 229,000,000 | 700,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Beginning Balance, Shares at Dec. 31, 2022 | 525,099,321 | 10,482,000 | 525,100,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issuance of Common Stock, Value | $ 41,100,000 | $ 5,100,000 | 36,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issuance of Common Stock, Shares | 800,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common Stock Dividends | (431,800,000) | (428,800,000) | [10] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common Stock Dividends | (31,200,000) | $ (17,500,000) | (31,200,000) | (17,500,000) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common Stock Dividends | (1,500,000) | (3,000,000) | (1,500,000) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Changes in Equity | (12,500,000) | (12,700,000) | 200,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Capital Contribution from Member | 100,000,000 | 25,000,000 | 50,000,000 | 50,000,000 | 100,000,000 | 25,000,000 | 50,000,000 | 50,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Dividends Paid on Common Stock | (55,000,000) | (55,000,000) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net Income (Loss) | 397,000,000 | 40,600,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net Income (Loss) Attributable to Noncontrolling Interests | 3,400,000 | 1,200,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net Income (Loss) | 400,400,000 | 112,500,000 | 47,600,000 | 162,700,000 | 102,800,000 | 78,000,000 | (2,300,000) | 41,800,000 | 112,500,000 | 47,600,000 | 162,700,000 | 102,800,000 | 78,000,000 | (2,300,000) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Comprehensive Income (Loss) | (151,800,000) | (1,000,000) | (600,000) | (2,600,000) | (1,500,000) | 100,000 | (151,800,000) | (1,000,000) | (600,000) | (2,600,000) | (1,500,000) | 100,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Ending Balance at Mar. 31, 2023 | 6,005,700,000 | 3,047,300,000 | 2,958,400,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Ending Balance at Mar. 31, 2023 | $ 23,967,800,000 | 5,086,900,000 | 4,051,300,000 | 3,077,300,000 | 3,216,100,000 | 2,397,800,000 | 3,765,200,000 | $ 3,418,200,000 | 260,400,000 | 56,600,000 | 321,200,000 | 157,200,000 | 100,000 | 8,074,300,000 | 1,828,700,000 | 1,658,200,000 | 988,800,000 | 887,800,000 | 1,042,600,000 | 1,492,200,000 | 12,313,800,000 | 3,003,600,000 | 2,402,300,000 | 2,034,800,000 | 2,007,100,000 | 1,198,200,000 | 2,276,600,000 | (68,100,000) | (5,800,000) | (9,200,000) | (2,900,000) | (200,000) | (4,100,000) | 229,600,000 | 400,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Ending Balance, Shares at Mar. 31, 2023 | 525,900,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common Stock, Dividends Per Share, Declared | $ 0.83 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Beginning Balance at Dec. 31, 2022 | 5,873,000,000 | 3,022,300,000 | 2,850,700,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Beginning Balance at Dec. 31, 2022 | $ 24,122,400,000 | 4,975,400,000 | 3,904,300,000 | 3,008,300,000 | 3,088,100,000 | $ 2,419,100,000 | 3,674,800,000 | $ 3,413,100,000 | 260,400,000 | 56,600,000 | 321,200,000 | 157,200,000 | 100,000 | 8,051,000,000 | 1,828,700,000 | 1,558,200,000 | 988,800,000 | 837,800,000 | 1,042,600,000 | 1,442,200,000 | 12,345,600,000 | 2,891,100,000 | 2,354,700,000 | 1,963,200,000 | 1,929,100,000 | 1,218,000,000 | 2,236,000,000 | 83,700,000 | (4,800,000) | (8,600,000) | (300,000) | 1,300,000 | (4,200,000) | 229,000,000 | 700,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Beginning Balance, Shares at Dec. 31, 2022 | 525,099,321 | 10,482,000 | 525,100,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Dividends Paid on Common Stock | 0 | (85,000,000) | (62,500,000) | 0 | $ (17,500,000) | (50,000,000) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net Income (Loss) | $ 918,200,000 | 121,600,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net Income (Loss) Attributable to Noncontrolling Interests | (1,700,000) | 1,500,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net Income (Loss) | 916,500,000 | 0 | (195,000,000) | (111,200,000) | 379,700,000 | 302,400,000 | 540,600,000 | 155,400,000 | 156,700,000 | 338,400,000 | 0 | 335,800,000 | 2,600,000 | [3] | 177,600,000 | 145,700,000 | 48,700,000 | 123,100,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Comprehensive Income (Loss) | (120,100,000) | (2,000,000) | 2,600,000 | (2,800,000) | (300,000) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Ending Balance at Jun. 30, 2023 | 6,142,800,000 | 3,038,700,000 | 3,104,100,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Ending Balance at Jun. 30, 2023 | $ 24,123,600,000 | 5,133,100,000 | 4,334,600,000 | 3,120,700,000 | 3,408,800,000 | 2,446,300,000 | 3,795,500,000 | $ 3,421,500,000 | 260,400,000 | 56,600,000 | 321,200,000 | 157,200,000 | 100,000 | 8,110,800,000 | 1,833,000,000 | 1,829,200,000 | 988,900,000 | 1,012,800,000 | 1,040,100,000 | 1,492,200,000 | 12,405,500,000 | 3,046,500,000 | 2,511,400,000 | 2,078,300,000 | 2,074,800,000 | 1,249,200,000 | 2,307,600,000 | (36,400,000) | (6,800,000) | (6,000,000) | (3,100,000) | (200,000) | (4,500,000) | 222,200,000 | 100,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Capital Contributions from Parent | 4,300,000 | 275,300,000 | 25,000,000 | 100,000 | 175,000,000 | $ 0 | 50,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Ending Balance, Shares at Jun. 30, 2023 | 526,387,081 | 10,482,000 | 526,400,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Revenue from Contracts with Customers | $ 9,063,400,000 | 5,445,300,000 | 2,786,100,000 | 645,100,000 | 186,900,000 | 0 | 645,100,000 | 8,500,000 | [2] | 178,400,000 | 2,786,100,000 | 5,445,300,000 | 1,677,000,000 | 6,500,000 | 887,100,000 | 1,100,000 | 180,200,000 | 0 | 176,400,000 | 0 | 3,100,000 | 1,223,200,000 | 5,500,000 | 30,400,000 | 1,890,600,000 | 7,300,000 | 887,200,000 | 3,700,000 | 26,200,000 | 1,026,200,000 | 1,300,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Revenues | 9,063,400,000 | (258,700,000) | [11],[12] | (907,900,000) | (2,900,000) | [11],[12] | 658,400,000 | (276,200,000) | [11],[12] | 62,100,000 | 3,200,000 | [11],[12] | 914,100,000 | 2,804,400,000 | 17,200,000 | [11],[12] | 5,532,300,000 | 0 | [11],[12] | 1,814,200,000 | 0 | [13] | 890,700,000 | 0 | [13] | 886,500,000 | 0 | [13] | 0 | 886,500,000 | 0 | 1,262,200,000 | 0 | [13] | 1,913,700,000 | 17,100,000 | [13] | $ 891,700,000 | 0 | [13] | 1,053,700,000 | 0 | [13] | |||||||||||||||||||||||||||||||||||||||||||||||||||
Revenue from Contract with Customers, Net of Provisions for Refund, Including Assessed Tax | 176,400,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Revenues from Related Parties, Net of Provisions for Refund | 710,100,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Beginning Balance at Mar. 31, 2023 | 6,005,700,000 | 3,047,300,000 | 2,958,400,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Beginning Balance at Mar. 31, 2023 | 23,967,800,000 | 5,086,900,000 | 4,051,300,000 | 3,077,300,000 | 3,216,100,000 | 2,397,800,000 | 3,765,200,000 | $ 3,418,200,000 | 260,400,000 | 56,600,000 | 321,200,000 | 157,200,000 | 100,000 | 8,074,300,000 | 1,828,700,000 | 1,658,200,000 | 988,800,000 | 887,800,000 | 1,042,600,000 | 1,492,200,000 | 12,313,800,000 | 3,003,600,000 | 2,402,300,000 | 2,034,800,000 | 2,007,100,000 | 1,198,200,000 | 2,276,600,000 | (68,100,000) | (5,800,000) | (9,200,000) | (2,900,000) | (200,000) | (4,100,000) | 229,600,000 | 400,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Beginning Balance, Shares at Mar. 31, 2023 | 525,900,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issuance of Common Stock, Value | 36,500,000 | $ 3,300,000 | 33,200,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issuance of Common Stock, Shares | 500,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common Stock Dividends | (431,800,000) | (429,500,000) | [10] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common Stock Dividends | (31,300,000) | (50,000,000) | (31,300,000) | (50,000,000) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common Stock Dividends | (600,000) | (2,300,000) | (600,000) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Changes in Equity | 3,300,000 | 3,300,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Capital Contribution from Member | 175,300,000 | 100,000 | 125,000,000 | 175,300,000 | 100,000 | 125,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Dividends Paid on Common Stock | (30,000,000) | (30,000,000) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net Income (Loss) | 521,200,000 | 81,000,000 | 521,200,000 | 81,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net Income (Loss) Attributable to Noncontrolling Interests | (5,100,000) | 300,000 | (5,100,000) | 300,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net Income (Loss) | 516,100,000 | 0 | (38,600,000) | (97,700,000) | 197,300,000 | 176,700,000 | 278,400,000 | 42,900,000 | 109,100,000 | 175,700,000 | 0 | 174,200,000 | 1,500,000 | [3] | 74,800,000 | 67,700,000 | 51,000,000 | 81,300,000 | 42,900,000 | 109,100,000 | 175,700,000 | 74,800,000 | 67,700,000 | 51,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Comprehensive Income (Loss) | 31,700,000 | (1,000,000) | 3,200,000 | (200,000) | (400,000) | 31,700,000 | (1,000,000) | 3,200,000 | (200,000) | (400,000) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Ending Balance at Jun. 30, 2023 | 6,142,800,000 | 3,038,700,000 | $ 3,104,100,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Ending Balance at Jun. 30, 2023 | $ 24,123,600,000 | 5,133,100,000 | 4,334,600,000 | 3,120,700,000 | 3,408,800,000 | 2,446,300,000 | 3,795,500,000 | $ 3,421,500,000 | $ 260,400,000 | $ 56,600,000 | $ 321,200,000 | $ 157,200,000 | $ 100,000 | $ 8,110,800,000 | 1,833,000,000 | 1,829,200,000 | $ 988,900,000 | $ 1,012,800,000 | 1,040,100,000 | $ 1,492,200,000 | $ 12,405,500,000 | $ 3,046,500,000 | $ 2,511,400,000 | $ 2,078,300,000 | $ 2,074,800,000 | $ 1,249,200,000 | $ 2,307,600,000 | $ (36,400,000) | $ (6,800,000) | $ (6,000,000) | $ (3,100,000) | $ (200,000) | $ (4,500,000) | $ 222,200,000 | $ 100,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Capital Contributions from Parent | 4,300,000 | $ 4,300,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Return of Capital to Parent Equity Statement | (4,300,000) | (8,600,000) | $ (2,500,000) | $ (4,300,000) | $ (8,600,000) | $ (2,500,000) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Ending Balance, Shares at Jun. 30, 2023 | 526,387,081 | 10,482,000 | 526,400,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common Stock, Dividends Per Share, Declared | $ 0.83 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Revenue from Contracts with Customers | $ 4,372,500,000 | $ 2,629,000,000 | $ 1,330,800,000 | $ 318,200,000 | 94,500,000 | 0 | $ 318,200,000 | 6,200,000 | [2] | $ 88,300,000 | $ 1,330,800,000 | $ 2,629,000,000 | $ 762,500,000 | 2,900,000 | $ 459,400,000 | 500,000 | 90,200,000 | 0 | $ 87,400,000 | 0 | $ 1,900,000 | $ 580,400,000 | 2,400,000 | $ 14,500,000 | $ 868,800,000 | 2,100,000 | $ 472,400,000 | 2,200,000 | $ 14,500,000 | $ 522,500,000 | 800,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Revenues | $ 4,372,500,000 | $ (128,800,000) | [14] | $ (464,200,000) | $ (2,000,000) | [14] | $ 331,400,000 | $ (135,200,000) | [14],[15] | $ 32,000,000 | $ 2,200,000 | [14] | $ 458,600,000 | $ 1,340,200,000 | $ 6,100,000 | [14] | $ 2,674,500,000 | $ 100,000 | [14] | $ 826,500,000 | $ 0 | [16] | $ 461,200,000 | $ 0 | [16] | 444,900,000 | $ 0 | [16] | $ 0 | $ 444,900,000 | $ 0 | $ 599,200,000 | $ 0 | [16] | $ 879,100,000 | $ 6,000,000 | [16] | $ 474,700,000 | $ 0 | [16] | $ 537,800,000 | $ 0 | [16] | |||||||||||||||||||||||||||||||||||||||||||||||||||
Revenue from Contract with Customers, Net of Provisions for Refund, Including Assessed Tax | $ 87,400,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Revenues from Related Parties, Net of Provisions for Refund | $ 357,500,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[1]Cash dividends declared per AEP common share were $0.78.[2]Corporate and Other primarily includes the purchasing of receivables from certain AEP utility subsidiaries. This segment also includes Parent’s guarantee revenue received from affiliates, investment income, interest income, interest expense and other nonallocated costs.[3]Includes the elimination of AEPTCo Parent’s equity earnings in the State Transcos.[4]Amounts include affiliated and nonaffiliated revenues.[5]Generation & Marketing includes economic hedge activity.[6]Amounts include affiliated and nonaffiliated revenues.[7]Amounts include affiliated and nonaffiliated revenues[8]Generation & Marketing includes economic hedge activity.[9]Amounts include affiliated and nonaffiliated revenues.[10]Cash dividends declared per AEP common share were $0.83.[11]Amounts include affiliated and nonaffiliated revenues.[12]Generation & Marketing includes economic hedge activity.[13]Amounts include affiliated and nonaffiliated revenues.[14]Amounts include affiliated and nonaffiliated revenues.[15]Generation & Marketing includes economic hedge activity.[16]Amounts include affiliated and nonaffiliated revenues. |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets - USD ($) $ in Millions | Jun. 30, 2023 | Dec. 31, 2022 | ||
Current Assets | ||||
Cash and Cash Equivalents | $ 304.9 | $ 509.4 | ||
Restricted Cash | 45.8 | 47.1 | ||
Other Temporary Investments | 202.5 | 187.6 | ||
Accounts Receivable: | ||||
Accounts Receivable and Accrued Unbilled Revenues | 990.8 | 1,145.1 | ||
Accrued Unbilled Revenues | 179.2 | 322.9 | ||
Pledged Accounts Receivable - AEP Credit | 1,226.6 | 1,207.4 | ||
Miscellaneous | 47.9 | 49.7 | ||
Allowance for Uncollectible Accounts | (58.6) | (57.1) | ||
Total Accounts Receivable | 2,385.9 | 2,668 | ||
Fuel | 705.9 | 435.1 | ||
Materials and Supplies | 975.9 | 915.1 | ||
Risk Management Assets | 279.5 | 348.8 | ||
Accrued Tax Benefits | 191.8 | 99.4 | ||
Assets Held for Sale | 1,382.8 | 0 | ||
Regulatory Asset for Under-Recovered Fuel Costs | 1,256.4 | 1,310 | ||
Prepayments and Other Current Assets | 309.9 | 255 | ||
TOTAL CURRENT ASSETS | 8,041.3 | 6,775.5 | ||
Property, Plant and Equipment | ||||
Generation | 24,113.5 | 25,834.2 | ||
Transmission | 34,145.5 | 33,266.9 | ||
Distribution | 28,033.8 | 27,138.8 | ||
Other Property, Plant and Equipment | 6,187.6 | 5,971.8 | ||
Construction Work in Progress | 5,935.4 | 4,809.7 | ||
Total Property, Plant and Equipment | 98,415.8 | 97,021.4 | ||
Accumulated Depreciation and Amortization | 23,734.4 | 23,682.3 | ||
TOTAL PROPERTY, PLANT AND EQUIPMENT - NET | 74,681.4 | 73,339.1 | ||
Other Noncurrent Assets | ||||
Regulatory Assets | 4,672.8 | 4,762 | ||
Securitized Assets | 394.3 | 446 | ||
Spent Nuclear Fuel and Decommissioning Trusts | 3,648.8 | 3,341.2 | ||
Goodwill | 52.5 | 52.5 | ||
Long-term Risk Management Assets | 266.8 | 284.1 | ||
Operating Lease Assets | 634.1 | 645.5 | ||
Deferred Charges and Other Noncurrent Assets | 3,610.1 | 3,757.4 | ||
TOTAL OTHER NONCURRENT ASSETS | 13,279.4 | 13,288.7 | ||
TOTAL ASSETS | 96,002.1 | [1] | 93,403.3 | |
Current Liabilities | ||||
Accounts Payable | 2,433.9 | 2,670.8 | ||
Short-term Debt: | ||||
Securitized Debt for Receivables - AEP Credit | [2] | 750 | 750 | |
Other Short-term Debt | 3,117.6 | 3,362.2 | ||
Total Short-term Debt | 3,867.6 | 4,112.2 | ||
Long-term Debt Due Within One Year | 3,380.3 | 2,486.4 | ||
Risk Management Liabilities | 176.2 | 145.2 | ||
Customer Deposits | 382.2 | 408.8 | ||
Accrued Taxes | 1,366.5 | 1,714.6 | ||
Accrued Interest | 402.9 | 336.5 | ||
Obligations Under Operating Leases | 116.6 | 113.6 | ||
Liabilities Held for Sale | 64.8 | 0 | ||
Other Liabilities, Current | 1,076.1 | 1,278.2 | ||
TOTAL CURRENT LIABILITIES | 13,267.1 | 13,266.3 | ||
Noncurrent Liabilities | ||||
Long-term Debt | 36,762 | 34,314.6 | ||
Deferred Income Tax Liabilities, Net | 9,157.7 | 8,896.9 | ||
Long-term Risk Management Liabilities | 275.3 | 345.2 | ||
Regulatory Liabilities and Deferred Investment Tax Credits | 8,121.1 | 8,115.6 | ||
Asset Retirement Obligations | 2,879.9 | 2,879.3 | ||
Employee Benefits and Pension Obligations | 248.9 | 257.3 | ||
Obligations Under Operating Leases | 533.6 | 552.5 | ||
Deferred Credits and Other Noncurrent Liabilities | 568.2 | 607.3 | ||
TOTAL NONCURRENT LIABILITIES | 58,546.7 | 55,968.7 | ||
TOTAL LIABILITIES | 71,813.8 | 69,235 | ||
Rate Matters | ||||
Commitments and Contingencies | ||||
Contingently Reedemable Performance Share Awards | 64.7 | 45.9 | ||
Total Mezzanine Equity | 64.7 | 45.9 | ||
Equity | ||||
Common Stock | 3,421.5 | 3,413.1 | ||
Paid-in Capital | 8,110.8 | 8,051 | ||
Retained Earnings | 12,405.5 | 12,345.6 | ||
Accumulated Other Comprehensive Income (Loss) | (36.4) | 83.7 | ||
TOTAL COMMON SHAREHOLDER'S EQUITY | 23,901.4 | 23,893.4 | ||
Noncontrolling Interests | 222.2 | 229 | ||
TOTAL EQUITY | 24,123.6 | 24,122.4 | ||
TOTAL LIABILITIES AND EQUITY | $ 96,002.1 | $ 93,403.3 | ||
Common Stock, No Par Value | $ 6.50 | $ 6.50 | ||
Common Stock, Shares Authorized | 600,000,000 | 600,000,000 | ||
Common Stock, Shares, Issued | 526,387,081 | 525,099,321 | ||
Treasury Stock, Shares | 11,233,240 | 11,233,240 | ||
Commodity [Member] | ||||
Equity | ||||
Cross Default Provisions Maximum Third Party Obligation Amount | $ 50 | |||
Subsidiaries [Member] | ||||
Current Assets | ||||
Restricted Cash | 45.8 | $ 47.1 | ||
Other Temporary Investments | 190.9 | 182.9 | ||
Short-term Debt: | ||||
Long-term Debt Due Within One Year | 196.2 | 218.2 | ||
Noncurrent Liabilities | ||||
Long-term Debt | 591.3 | 755.3 | ||
AEP Texas Inc. [Member] | ||||
Current Assets | ||||
Cash and Cash Equivalents | 0.1 | 0.1 | ||
Restricted Cash | 30.7 | 32.7 | ||
Accounts Receivable: | ||||
Accounts Receivable and Accrued Unbilled Revenues | 173.2 | 150.9 | ||
Accrued Unbilled Revenues | 91.6 | 91.4 | ||
Miscellaneous | 0.5 | 0.2 | ||
Allowance for Uncollectible Accounts | (4.9) | (4.2) | ||
Total Accounts Receivable | 283.3 | 250.2 | ||
Materials and Supplies | 157.3 | 138.8 | ||
Prepayments and Other Current Assets | 8.9 | 18.2 | ||
TOTAL CURRENT ASSETS | 487.2 | 446.9 | ||
Property, Plant and Equipment | ||||
Transmission | 6,487.9 | 6,301.5 | ||
Distribution | 5,572.7 | 5,312.8 | ||
Other Property, Plant and Equipment | 1,098.3 | 1,022.8 | ||
Construction Work in Progress | 984.9 | 805.2 | ||
Total Property, Plant and Equipment | 14,143.8 | 13,442.3 | ||
Accumulated Depreciation and Amortization | 1,829.1 | 1,760.7 | ||
TOTAL PROPERTY, PLANT AND EQUIPMENT - NET | 12,314.7 | 11,681.6 | ||
Other Noncurrent Assets | ||||
Regulatory Assets | 326.5 | 298.3 | ||
Securitized Assets | 247.8 | 286.4 | ||
Deferred Charges and Other Noncurrent Assets | 238.2 | 179 | ||
TOTAL OTHER NONCURRENT ASSETS | 812.5 | 763.7 | ||
TOTAL ASSETS | 13,614.4 | 12,892.2 | ||
Current Liabilities | ||||
Accounts Payable | 247.2 | 331 | ||
Short-term Debt: | ||||
Long-term Debt Due Within One Year | 154.7 | 278.5 | ||
Accrued Taxes | 138.7 | 95.5 | ||
Accrued Interest | 50.5 | 48.3 | ||
Obligations Under Operating Leases | 29.8 | 28.6 | ||
Other Liabilities, Current | 132.6 | 130.7 | ||
TOTAL CURRENT LIABILITIES | 923.7 | 1,043.8 | ||
Noncurrent Liabilities | ||||
Long-term Debt | 5,782.8 | 5,379.3 | ||
Deferred Income Tax Liabilities, Net | 1,180.3 | 1,144.2 | ||
Regulatory Liabilities and Deferred Investment Tax Credits | 1,250.6 | 1,259.6 | ||
Obligations Under Operating Leases | 59.2 | 67.8 | ||
Deferred Credits and Other Noncurrent Liabilities | 83.2 | 93.2 | ||
TOTAL NONCURRENT LIABILITIES | 8,356.1 | 7,944.1 | ||
TOTAL LIABILITIES | 9,279.8 | 8,987.9 | ||
Rate Matters | ||||
Commitments and Contingencies | ||||
Equity | ||||
Paid-in Capital | 1,829.2 | 1,558.2 | ||
Retained Earnings | 2,511.4 | 2,354.7 | ||
Accumulated Other Comprehensive Income (Loss) | (6) | (8.6) | ||
TOTAL EQUITY | 4,334.6 | 3,904.3 | ||
TOTAL LIABILITIES AND EQUITY | 13,614.4 | 12,892.2 | ||
AEP Texas Inc. [Member] | Related Party | ||||
Current Assets | ||||
Advances to Affiliates | 6.9 | 6.9 | ||
Accounts Receivable: | ||||
Affiliated Companies - Contracts with Customers | 22.9 | 11.9 | ||
Current Liabilities | ||||
Advances From Affiliates | 135.9 | 96.5 | ||
Accounts Payable | 34.3 | 34.7 | ||
AEP Texas Inc. [Member] | AEP Texas Transition Funding and Restoration Funding [Member] | ||||
Current Assets | ||||
Restricted Cash | 30.7 | 32.7 | ||
Other Noncurrent Assets | ||||
Securitized Assets | 247.8 | 286.4 | ||
Short-term Debt: | ||||
Long-term Debt Due Within One Year | 94.7 | 93.5 | ||
Accrued Interest | 2.1 | 2.2 | ||
Noncurrent Liabilities | ||||
Long-term Debt | 177 | 221 | ||
AEP Transmission Co [Member] | ||||
Current Assets | ||||
Cash and Cash Equivalents | 0 | 0 | ||
Accounts Receivable: | ||||
Accounts Receivable and Accrued Unbilled Revenues | 91.1 | 46.9 | ||
Total Accounts Receivable | 270.5 | 166.4 | ||
Materials and Supplies | 15.5 | 10.7 | ||
Prepayments and Other Current Assets | 1.8 | 7.2 | ||
TOTAL CURRENT ASSETS | 367.2 | 188.7 | ||
Property, Plant and Equipment | ||||
Transmission | 12,780 | 12,335.4 | ||
Other Property, Plant and Equipment | 489.6 | 476.8 | ||
Construction Work in Progress | 1,918.9 | 1,554.7 | ||
Total Property, Plant and Equipment | 15,188.5 | 14,366.9 | ||
Accumulated Depreciation and Amortization | 1,150.8 | 1,027 | ||
TOTAL PROPERTY, PLANT AND EQUIPMENT - NET | 14,037.7 | 13,339.9 | ||
Other Noncurrent Assets | ||||
Regulatory Assets | 5.8 | 7.2 | ||
Deferred Property Taxes | 155.9 | 266.6 | ||
Deferred Charges and Other Noncurrent Assets | 9.9 | 11.8 | ||
TOTAL OTHER NONCURRENT ASSETS | 171.6 | 285.6 | ||
TOTAL ASSETS | 14,576.5 | 13,814.2 | ||
Current Liabilities | ||||
Accounts Payable | 387.4 | 427.8 | ||
Short-term Debt: | ||||
Long-term Debt Due Within One Year | 60 | 60 | ||
Accrued Taxes | 392.4 | 529.8 | ||
Accrued Interest | 40.1 | 28.8 | ||
Obligations Under Operating Leases | 1.4 | 1.3 | ||
Other Liabilities, Current | 12.3 | 8.3 | ||
TOTAL CURRENT LIABILITIES | 1,072.9 | 1,368 | ||
Noncurrent Liabilities | ||||
Long-term Debt | 5,413 | 4,722.8 | ||
Deferred Income Tax Liabilities, Net | 1,107.3 | 1,056.5 | ||
Regulatory Liabilities and Deferred Investment Tax Credits | 768.9 | 723.3 | ||
Obligations Under Operating Leases | 1.8 | 1.5 | ||
Deferred Credits and Other Noncurrent Liabilities | 69.8 | 69.1 | ||
TOTAL NONCURRENT LIABILITIES | 7,360.8 | 6,573.2 | ||
TOTAL LIABILITIES | 8,433.7 | 7,941.2 | ||
Rate Matters | ||||
Commitments and Contingencies | ||||
Equity | ||||
Paid-in Captial | 3,038.7 | 3,022.3 | ||
Retained Earnings | 3,104.1 | 2,850.7 | ||
TOTAL MEMBER'S EQUITY | 6,142.8 | 5,873 | ||
TOTAL LIABILITIES AND EQUITY | 14,576.5 | 13,814.2 | ||
AEP Transmission Co [Member] | Related Party | ||||
Current Assets | ||||
Advances to Affiliates | 79.4 | 4.4 | ||
Accounts Receivable: | ||||
Affiliated Companies - Contracts with Customers | 179.4 | 119.5 | ||
Current Liabilities | ||||
Advances From Affiliates | 74.4 | 229.3 | ||
Accounts Payable | 104.9 | 82.7 | ||
Appalachian Power Co [Member] | ||||
Current Assets | ||||
Cash and Cash Equivalents | 6.8 | 7.5 | ||
Restricted Cash | 15.1 | 14.4 | ||
Accounts Receivable: | ||||
Accounts Receivable and Accrued Unbilled Revenues | 138.1 | 168.9 | ||
Accrued Unbilled Revenues | 35.6 | 91.3 | ||
Miscellaneous | 0.5 | 0.3 | ||
Allowance for Uncollectible Accounts | (1.6) | (1.7) | ||
Total Accounts Receivable | 294.1 | 352.8 | ||
Fuel | 267.1 | 158.9 | ||
Materials and Supplies | 136.5 | 130.6 | ||
Risk Management Assets | 39.2 | 69.1 | ||
Regulatory Asset for Under-Recovered Fuel Costs | 586 | 473.1 | ||
Prepayments and Other Current Assets | 28.9 | 33.4 | ||
TOTAL CURRENT ASSETS | 1,392.6 | 1,259.6 | ||
Property, Plant and Equipment | ||||
Generation | 6,903 | 6,776.8 | ||
Transmission | 4,536.9 | 4,482.8 | ||
Distribution | 5,067.5 | 4,933 | ||
Other Property, Plant and Equipment | 922.7 | 883.3 | ||
Construction Work in Progress | 790.9 | 705.3 | ||
Total Property, Plant and Equipment | 18,221 | 17,781.2 | ||
Accumulated Depreciation and Amortization | 5,547 | 5,402 | ||
TOTAL PROPERTY, PLANT AND EQUIPMENT - NET | 12,674 | 12,379.2 | ||
Other Noncurrent Assets | ||||
Regulatory Assets | 891.7 | 1,058.6 | ||
Securitized Assets | 146.5 | 159.6 | ||
Employee Benefits and Pension Assets | 161.9 | 152.9 | ||
Operating Lease Assets | 67.9 | 73.6 | ||
Deferred Charges and Other Noncurrent Assets | 123.4 | 138.7 | ||
TOTAL OTHER NONCURRENT ASSETS | 1,391.4 | 1,583.4 | ||
TOTAL ASSETS | 15,458 | 15,222.2 | ||
Current Liabilities | ||||
Accounts Payable | 324.3 | 451.2 | ||
Short-term Debt: | ||||
Long-term Debt Due Within One Year | 538.3 | 251.8 | ||
Risk Management Liabilities | 1.1 | 3.6 | ||
Customer Deposits | 75.3 | 75.1 | ||
Accrued Taxes | 101.8 | 101 | ||
Accrued Interest | 60 | 57.9 | ||
Obligations Under Operating Leases | 14.3 | 15 | ||
Other Liabilities, Current | 108.6 | 109.7 | ||
TOTAL CURRENT LIABILITIES | 1,604 | 1,390.2 | ||
Noncurrent Liabilities | ||||
Long-term Debt | 5,061.4 | 5,158.7 | ||
Deferred Income Tax Liabilities, Net | 2,007.9 | 1,992.2 | ||
Regulatory Liabilities and Deferred Investment Tax Credits | 1,094.5 | 1,143.6 | ||
Asset Retirement Obligations | 419.7 | 419.2 | ||
Employee Benefits and Pension Obligations | 33.7 | 34.2 | ||
Obligations Under Operating Leases | 54 | 59.1 | ||
Deferred Credits and Other Noncurrent Liabilities | 49.7 | 49.6 | ||
TOTAL NONCURRENT LIABILITIES | 8,720.9 | 8,856.6 | ||
TOTAL LIABILITIES | 10,324.9 | 10,246.8 | ||
Rate Matters | ||||
Commitments and Contingencies | ||||
Equity | ||||
Common Stock | 260.4 | 260.4 | ||
Paid-in Capital | 1,833 | 1,828.7 | ||
Retained Earnings | 3,046.5 | 2,891.1 | ||
Accumulated Other Comprehensive Income (Loss) | (6.8) | (4.8) | ||
TOTAL EQUITY | 5,133.1 | 4,975.4 | ||
TOTAL LIABILITIES AND EQUITY | $ 15,458 | $ 15,222.2 | ||
Common Stock, No Par Value | $ 0 | $ 0 | ||
Common Stock, Shares Authorized | 30,000,000 | 30,000,000 | ||
Common Stock, Shares, Outstanding | 13,499,500 | 13,499,500 | ||
Appalachian Power Co [Member] | Related Party | ||||
Current Assets | ||||
Advances to Affiliates | $ 18.9 | $ 19.8 | ||
Accounts Receivable: | ||||
Affiliated Companies - Contracts with Customers | 121.5 | 94 | ||
Current Liabilities | ||||
Advances From Affiliates | 266.1 | 182.2 | ||
Accounts Payable | 114.2 | 142.7 | ||
Indiana Michigan Power Co [Member] | ||||
Current Assets | ||||
Cash and Cash Equivalents | 3.8 | 4.2 | ||
Accounts Receivable: | ||||
Accounts Receivable and Accrued Unbilled Revenues | 48.9 | 96.6 | ||
Accrued Unbilled Revenues | 0.8 | 0.6 | ||
Miscellaneous | 6.6 | 4.7 | ||
Allowance for Uncollectible Accounts | (0.1) | (0.1) | ||
Total Accounts Receivable | 169.5 | 205.8 | ||
Fuel | 85.6 | 46.5 | ||
Materials and Supplies | 201.7 | 188.1 | ||
Risk Management Assets | 21.4 | 15.2 | ||
Regulatory Asset for Under-Recovered Fuel Costs | 17.5 | 47.1 | ||
Prepayments and Other Current Assets | 44.1 | 41.9 | ||
TOTAL CURRENT ASSETS | 584.1 | 571.8 | ||
Property, Plant and Equipment | ||||
Generation | 5,598.9 | 5,585.1 | ||
Transmission | 1,871.5 | 1,842.2 | ||
Distribution | 3,131.7 | 3,024.7 | ||
Other Property, Plant and Equipment | 831.6 | 839.3 | ||
Construction Work in Progress | 292 | 253 | ||
Total Property, Plant and Equipment | 11,725.7 | 11,544.3 | ||
Accumulated Depreciation and Amortization | 4,243 | 4,132.8 | ||
TOTAL PROPERTY, PLANT AND EQUIPMENT - NET | 7,482.7 | 7,411.5 | ||
Other Noncurrent Assets | ||||
Regulatory Assets | 392.1 | 459.6 | ||
Spent Nuclear Fuel and Decommissioning Trusts | 3,648.8 | 3,341.2 | ||
Operating Lease Assets | 59.3 | 64.3 | ||
Deferred Charges and Other Noncurrent Assets | 273.2 | 270.5 | ||
TOTAL OTHER NONCURRENT ASSETS | 4,373.4 | 4,135.6 | ||
TOTAL ASSETS | 12,440.2 | 12,118.9 | ||
Current Liabilities | ||||
Accounts Payable | 220.8 | 173.4 | ||
Short-term Debt: | ||||
Long-term Debt Due Within One Year | 74.3 | 341.8 | ||
Customer Deposits | 50.4 | 48.6 | ||
Accrued Taxes | 100.2 | 103.2 | ||
Accrued Interest | 42.1 | 36.9 | ||
Obligations Under Operating Leases | 16.5 | 16 | ||
Other Liabilities, Current | 84.6 | 105.8 | ||
TOTAL CURRENT LIABILITIES | 678.2 | 1,197.1 | ||
Noncurrent Liabilities | ||||
Long-term Debt | 3,389.8 | 2,919 | ||
Deferred Income Tax Liabilities, Net | 1,182.6 | 1,157 | ||
Regulatory Liabilities and Deferred Investment Tax Credits | 1,909.5 | 1,702.2 | ||
Asset Retirement Obligations | 2,064.9 | 2,027.6 | ||
Obligations Under Operating Leases | 43.5 | 48.9 | ||
Deferred Credits and Other Noncurrent Liabilities | 51 | 58.8 | ||
TOTAL NONCURRENT LIABILITIES | 8,641.3 | 7,913.5 | ||
TOTAL LIABILITIES | 9,319.5 | 9,110.6 | ||
Rate Matters | ||||
Commitments and Contingencies | ||||
Equity | ||||
Common Stock | 56.6 | 56.6 | ||
Paid-in Capital | 988.9 | 988.8 | ||
Retained Earnings | 2,078.3 | 1,963.2 | ||
Accumulated Other Comprehensive Income (Loss) | (3.1) | (0.3) | ||
TOTAL EQUITY | 3,120.7 | 3,008.3 | ||
TOTAL LIABILITIES AND EQUITY | $ 12,440.2 | $ 12,118.9 | ||
Common Stock, No Par Value | $ 0 | $ 0 | ||
Common Stock, Shares Authorized | 2,500,000 | 2,500,000 | ||
Common Stock, Shares, Outstanding | 1,400,000 | 1,400,000 | ||
Indiana Michigan Power Co [Member] | Related Party | ||||
Current Assets | ||||
Advances to Affiliates | $ 40.5 | $ 23 | ||
Accounts Receivable: | ||||
Affiliated Companies - Contracts with Customers | 113.3 | 104 | ||
Current Liabilities | ||||
Advances From Affiliates | 0 | 249.9 | ||
Accounts Payable | 89.3 | 121.5 | ||
Indiana Michigan Power Co [Member] | DCC Fuel [Member] | ||||
Short-term Debt: | ||||
Long-term Debt Due Within One Year | 72.1 | 89.6 | ||
Ohio Power Co [Member] | ||||
Current Assets | ||||
Cash and Cash Equivalents | 9.7 | 9.6 | ||
Accounts Receivable: | ||||
Accounts Receivable and Accrued Unbilled Revenues | 106 | 119.9 | ||
Accrued Unbilled Revenues | 0 | 17.8 | ||
Miscellaneous | 0.4 | 0.1 | ||
Allowance for Uncollectible Accounts | 0 | (0.1) | ||
Total Accounts Receivable | 232.9 | 238.6 | ||
Materials and Supplies | 139.3 | 109.5 | ||
Renewable Energy Credits | 28.9 | 35 | ||
Prepayments and Other Current Assets | 15.8 | 21.7 | ||
TOTAL CURRENT ASSETS | 426.6 | 414.4 | ||
Property, Plant and Equipment | ||||
Transmission | 3,274 | 3,198.6 | ||
Distribution | 6,633.3 | 6,450.3 | ||
Other Property, Plant and Equipment | 1,071.3 | 1,051.4 | ||
Construction Work in Progress | 651.3 | 474.3 | ||
Total Property, Plant and Equipment | 11,629.9 | 11,174.6 | ||
Accumulated Depreciation and Amortization | 2,627 | 2,565.3 | ||
TOTAL PROPERTY, PLANT AND EQUIPMENT - NET | 9,002.9 | 8,609.3 | ||
Other Noncurrent Assets | ||||
Regulatory Assets | 406.9 | 327.3 | ||
Operating Lease Assets | 71 | 73.8 | ||
Deferred Charges and Other Noncurrent Assets | 363.3 | 578.3 | ||
TOTAL OTHER NONCURRENT ASSETS | 841.2 | 979.4 | ||
TOTAL ASSETS | 10,270.7 | 10,003.1 | ||
Current Liabilities | ||||
Accounts Payable | 322.6 | 337.3 | ||
Short-term Debt: | ||||
Long-term Debt Due Within One Year | 0 | 0.1 | ||
Risk Management Liabilities | 6.3 | 1.8 | ||
Customer Deposits | 59.5 | 96.5 | ||
Accrued Taxes | 441.8 | 733.1 | ||
Obligations Under Operating Leases | 13.5 | 13.5 | ||
Other Liabilities, Current | 158.5 | 154.2 | ||
TOTAL CURRENT LIABILITIES | 1,228 | 1,635.5 | ||
Noncurrent Liabilities | ||||
Long-term Debt | 3,365.6 | 2,970.2 | ||
Deferred Income Tax Liabilities, Net | 1,123.4 | 1,101.1 | ||
Long-term Risk Management Liabilities | 47.7 | 37.9 | ||
Regulatory Liabilities and Deferred Investment Tax Credits | 992.6 | 1,044 | ||
Obligations Under Operating Leases | 57.8 | 60.3 | ||
Deferred Credits and Other Noncurrent Liabilities | 46.8 | 66 | ||
TOTAL NONCURRENT LIABILITIES | 5,633.9 | 5,279.5 | ||
TOTAL LIABILITIES | 6,861.9 | 6,915 | ||
Rate Matters | ||||
Commitments and Contingencies | ||||
Equity | ||||
Common Stock | 321.2 | 321.2 | ||
Paid-in Capital | 1,012.8 | 837.8 | ||
Retained Earnings | 2,074.8 | 1,929.1 | ||
TOTAL EQUITY | 3,408.8 | 3,088.1 | ||
TOTAL LIABILITIES AND EQUITY | $ 10,270.7 | $ 10,003.1 | ||
Common Stock, No Par Value | $ 0 | $ 0 | ||
Common Stock, Shares Authorized | 40,000,000 | 40,000,000 | ||
Common Stock, Shares, Outstanding | 27,952,473 | 27,952,473 | ||
Ohio Power Co [Member] | Related Party | ||||
Accounts Receivable: | ||||
Affiliated Companies - Contracts with Customers | $ 126.5 | $ 100.9 | ||
Current Liabilities | ||||
Advances From Affiliates | 72.3 | 172.9 | ||
Accounts Payable | 153.5 | 126.1 | ||
Public Service Co Of Oklahoma [Member] | ||||
Current Assets | ||||
Cash and Cash Equivalents | 4.6 | 4 | ||
Accounts Receivable: | ||||
Accounts Receivable and Accrued Unbilled Revenues | 80.5 | 70.1 | ||
Miscellaneous | 0.5 | 0.8 | ||
Total Accounts Receivable | 148.1 | 123.1 | ||
Fuel | 20.6 | 11.6 | ||
Materials and Supplies | 105.8 | 111.1 | ||
Risk Management Assets | 44.8 | 25.3 | ||
Accrued Tax Benefits | 39 | 16.1 | ||
Regulatory Asset for Under-Recovered Fuel Costs | 178.7 | 178.7 | ||
Prepayments and Other Current Assets | 22.8 | 21.6 | ||
TOTAL CURRENT ASSETS | 564.4 | 491.5 | ||
Property, Plant and Equipment | ||||
Generation | 2,675.7 | 2,394.8 | ||
Transmission | 1,182.7 | 1,164.4 | ||
Distribution | 3,309 | 3,216.4 | ||
Other Property, Plant and Equipment | 492.7 | 469.3 | ||
Construction Work in Progress | 295.2 | 219.3 | ||
Total Property, Plant and Equipment | 7,955.3 | 7,464.2 | ||
Accumulated Depreciation and Amortization | 2,011 | 1,837.7 | ||
TOTAL PROPERTY, PLANT AND EQUIPMENT - NET | 5,944.3 | 5,626.5 | ||
Other Noncurrent Assets | ||||
Regulatory Assets | 570 | 653.7 | ||
Employee Benefits and Pension Assets | 70 | 67.3 | ||
Operating Lease Assets | 114.9 | 106.1 | ||
Deferred Charges and Other Noncurrent Assets | 50.4 | 20.8 | ||
TOTAL OTHER NONCURRENT ASSETS | 805.3 | 847.9 | ||
TOTAL ASSETS | 7,314 | 6,965.9 | ||
Current Liabilities | ||||
Accounts Payable | 284.2 | 202.9 | ||
Short-term Debt: | ||||
Long-term Debt Due Within One Year | 0.6 | 0.5 | ||
Customer Deposits | 60 | 59 | ||
Accrued Taxes | 60.5 | 28.7 | ||
Obligations Under Operating Leases | 9.5 | 8.9 | ||
Other Liabilities, Current | 95.5 | 101.8 | ||
TOTAL CURRENT LIABILITIES | 663.8 | 842.7 | ||
Noncurrent Liabilities | ||||
Long-term Debt | 2,383.3 | 1,912.3 | ||
Deferred Income Tax Liabilities, Net | 815.7 | 788.6 | ||
Regulatory Liabilities and Deferred Investment Tax Credits | 797.1 | 809.1 | ||
Asset Retirement Obligations | 81.4 | 73.5 | ||
Obligations Under Operating Leases | 108.4 | 99.3 | ||
Deferred Credits and Other Noncurrent Liabilities | 18 | 21.3 | ||
TOTAL NONCURRENT LIABILITIES | 4,203.9 | 3,704.1 | ||
TOTAL LIABILITIES | 4,867.7 | 4,546.8 | ||
Rate Matters | ||||
Commitments and Contingencies | ||||
Equity | ||||
Common Stock | 157.2 | 157.2 | ||
Paid-in Capital | 1,040.1 | 1,042.6 | ||
Retained Earnings | 1,249.2 | 1,218 | ||
Accumulated Other Comprehensive Income (Loss) | (0.2) | 1.3 | ||
TOTAL EQUITY | 2,446.3 | 2,419.1 | ||
TOTAL LIABILITIES AND EQUITY | $ 7,314 | $ 6,965.9 | ||
Common Stock, Shares Authorized | 11,000,000 | 11,000,000 | ||
Common Stock, Shares, Outstanding | 9,013,000 | 9,013,000 | ||
Common Stock, Par or Stated Value Per Share | $ 15 | $ 15 | ||
Common Stock, Shares, Issued | 10,482,000 | 10,482,000 | ||
Public Service Co Of Oklahoma [Member] | Related Party | ||||
Accounts Receivable: | ||||
Affiliated Companies - Contracts with Customers | $ 67.1 | $ 52.2 | ||
Current Liabilities | ||||
Advances From Affiliates | 68.1 | 364.2 | ||
Accounts Payable | 85.4 | 76.7 | ||
Southwestern Electric Power Co [Member] | ||||
Current Assets | ||||
Cash and Cash Equivalents | 4.6 | 88.4 | ||
Accounts Receivable: | ||||
Accounts Receivable and Accrued Unbilled Revenues | 38.6 | 38.8 | ||
Miscellaneous | 16.7 | 10.4 | ||
Total Accounts Receivable | 118.9 | 114.6 | ||
Fuel | 96.7 | 81.3 | ||
Materials and Supplies | 86.3 | 92.1 | ||
Risk Management Assets | 28 | 16.4 | ||
Accrued Tax Benefits | 43.8 | 16.5 | ||
Regulatory Asset for Under-Recovered Fuel Costs | 213.6 | 353 | ||
Prepayments and Other Current Assets | 18 | 47.8 | ||
TOTAL CURRENT ASSETS | 612.1 | 812.2 | ||
Property, Plant and Equipment | ||||
Generation | 4,887.9 | 5,476.2 | ||
Transmission | 2,536.4 | 2,479.8 | ||
Distribution | 2,739.4 | 2,659.6 | ||
Other Property, Plant and Equipment | 800 | 804.4 | ||
Construction Work in Progress | 516.9 | 369.5 | ||
Total Property, Plant and Equipment | 11,480.6 | 11,789.5 | ||
Accumulated Depreciation and Amortization | 3,007.7 | 3,527.3 | ||
TOTAL PROPERTY, PLANT AND EQUIPMENT - NET | 8,472.9 | 8,262.2 | ||
Other Noncurrent Assets | ||||
Regulatory Assets | 1,147.2 | 1,042.4 | ||
Deferred Charges and Other Noncurrent Assets | 313.9 | 262 | ||
TOTAL OTHER NONCURRENT ASSETS | 1,461.1 | 1,304.4 | ||
TOTAL ASSETS | 10,546.1 | 10,378.8 | ||
Current Liabilities | ||||
Accounts Payable | 260.2 | 213.1 | ||
Short-term Debt: | ||||
Other Short-term Debt | 3.9 | 0 | ||
Long-term Debt Due Within One Year | 0 | 6.2 | ||
Customer Deposits | 71 | 65.4 | ||
Accrued Taxes | 118.4 | 52.8 | ||
Accrued Interest | 38.9 | 36 | ||
Obligations Under Operating Leases | 9.2 | 8.4 | ||
Asset Retirement Obligations | 43.7 | 43.7 | ||
Other Liabilities, Current | 110.1 | 129.7 | ||
TOTAL CURRENT LIABILITIES | 784.7 | 947.7 | ||
Noncurrent Liabilities | ||||
Long-term Debt | 3,645.6 | 3,385.4 | ||
Deferred Income Tax Liabilities, Net | 1,131.9 | 1,089.7 | ||
Regulatory Liabilities and Deferred Investment Tax Credits | 766.8 | 825.7 | ||
Asset Retirement Obligations | 225.5 | 237.2 | ||
Employee Benefits and Pension Obligations | 29.8 | 29.7 | ||
Obligations Under Operating Leases | 125 | 120.2 | ||
Deferred Credits and Other Noncurrent Liabilities | 41.3 | 68.4 | ||
TOTAL NONCURRENT LIABILITIES | 5,965.9 | 5,756.3 | ||
TOTAL LIABILITIES | 6,750.6 | 6,704 | ||
Rate Matters | ||||
Commitments and Contingencies | ||||
Equity | ||||
Common Stock | 0.1 | 0.1 | ||
Paid-in Capital | 1,492.2 | 1,442.2 | ||
Retained Earnings | 2,307.6 | 2,236 | ||
Accumulated Other Comprehensive Income (Loss) | (4.5) | (4.2) | ||
TOTAL COMMON SHAREHOLDER'S EQUITY | 3,795.4 | 3,674.1 | ||
Noncontrolling Interests | 0.1 | 0.7 | ||
TOTAL EQUITY | 3,795.5 | 3,674.8 | ||
TOTAL LIABILITIES AND EQUITY | $ 10,546.1 | $ 10,378.8 | ||
Common Stock, No Par Value | $ 18 | $ 18 | ||
Common Stock, Shares Authorized | 3,680 | 3,680 | ||
Common Stock, Shares, Outstanding | 3,680 | 3,680 | ||
Southwestern Electric Power Co [Member] | Related Party | ||||
Current Assets | ||||
Advances to Affiliates | $ 2.2 | $ 2.1 | ||
Accounts Receivable: | ||||
Affiliated Companies - Contracts with Customers | 63.6 | 65.4 | ||
Current Liabilities | ||||
Advances From Affiliates | 32.6 | 310.7 | ||
Accounts Payable | 96.7 | 81.7 | ||
Southwestern Electric Power Co [Member] | Sabine Mining Co [Member] | ||||
Current Assets | ||||
Cash and Cash Equivalents | 0.2 | 84.2 | ||
Accounts Receivable: | ||||
Fuel | 0 | 14.2 | ||
Materials and Supplies | 4.2 | 4.2 | ||
Property, Plant and Equipment | ||||
Other Property, Plant and Equipment | 187.8 | 219.8 | ||
Accumulated Depreciation and Amortization | $ 187.8 | $ 212.5 | ||
[1]Amount includes Assets Held for Sale on the balance sheet. See “Planned Disposition of the Competitive Contracted Renewables Portfolio” section of Note 6 for additional information.[2]Amount of securitized debt for receivables as accounted for under the “Transfers and Servicing” accounting guidance. |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Cash Flows $ in Millions | 6 Months Ended | |
Jun. 30, 2023 USD ($) $ / shares | Jun. 30, 2022 USD ($) | |
Operating Activities | ||
Net Income (Loss) | $ 916.5 | $ 1,238.9 |
Adjustments to Reconcile Net Income to Net Cash Flows from (Used for) Operating Activities: | ||
Depreciation and Amortization | 1,517.1 | 1,595 |
Deferred Income Taxes | 135.8 | 21.4 |
Allowance for Equity Funds Used During Construction | (72.3) | (59.6) |
Mark-to-Market of Risk Management Contracts | (124.7) | 431.4 |
Property Taxes | 202.7 | 191.6 |
Deferred Fuel Over/Under-Recovery, Net | 342.5 | (599.5) |
Change in Other Noncurrent Assets | (375.5) | (49.3) |
Change in Other Noncurrent Liabilities | (55.4) | 144.5 |
Changes in Certain Components of Working Capital: | ||
Accounts Receivable, Net | 277.8 | (445.8) |
Fuel, Materials and Supplies | (315.1) | (110.5) |
Accounts Payable | 62.6 | 484.8 |
Accrued Taxes, Net | (433.7) | (218.2) |
Other Current Assets | (76.6) | 69.9 |
Other Current Liabilities | (232.1) | 158.1 |
Net Cash Flows from (Used for) Operating Activities | 1,881.6 | 2,990.7 |
Investing Activities | ||
Construction Expenditures | (4,049.7) | (3,138.1) |
Purchases of Investment Securities | (1,235.6) | (1,254.8) |
Sales of Investment Securities | 1,206.3 | 1,244.9 |
Acquisitions of Nuclear Fuel | (73.9) | (67.7) |
Proceeds from Sale of Property, Plant, and Equipment | 1 | 208.5 |
Other Investing Activities | 32.1 | 15.5 |
Net Cash Flows from (Used for) Investing Activities | (4,265.5) | (4,199) |
Financing Activities | ||
Issuance of Common Stock | 77.6 | 812.7 |
Issuance of Long-term Debt | 3,958.8 | 2,639.1 |
Issuance of Short-term Debt with Original Maturities greater than 90 Days | 597.4 | 271 |
Change in Short-term Debt with Original Maturities less than 90 Days, Net | (688.2) | (268.9) |
Retirement of Long-term Debt | (641.7) | (582.4) |
Redemption of Short-term Debt with Original Maturities Greater than 90 Days | (153.8) | (486.1) |
Principal Payments for Finance Leases Obligations | (40.6) | (106.2) |
Dividends Paid on Common Stock | (863.6) | (803.5) |
Other Financing Activities | (67.8) | (97.6) |
Net Cash Flows from (Used for) Financing Activities | 2,178.1 | 1,378.1 |
Net Increase (Decrease) in Cash and Cash Equivalents | (205.8) | 169.8 |
Cash, Cash Equivalents and Restricted Cash at Beginning of Period | 556.5 | 451.4 |
Cash and Cash Equivalents at Beginning of Period | 509.4 | |
Cash, Cash Equivalents and Restricted Cash at End of Period | 350.7 | 621.2 |
Cash and Cash Equivalents at End of Period | 304.9 | |
Supplementary Information | ||
Cash Paid for Interest, Net of Capitalized Amounts | 773.5 | 591.2 |
Net Cash Paid (Received) for Income Taxes | 9.9 | 95.5 |
Noncash Acquisitions Under Finance Leases | 25.6 | 13.7 |
Construction Expenditures Included in Current Liabilities as of March 31, | 966.6 | 849.1 |
Acquisition of Nuclear Fuel Included in Current Liabilities as of March 31, | (36) | 0 |
Commitment from Bank Conduits to Finance Receivables | 125 | |
Commitment from Bank Conduits to Finance Receivables Two | $ 625 | |
2020 Equity Units [Member] | Maximum [Member] | ||
Supplementary Information | ||
AEP Share Price for Equity Unit Conversion | $ / shares | $ 99.95 | |
Kentucky Power Co [Member] | ||
Adjustments to Reconcile Net Income to Net Cash Flows from (Used for) Operating Activities: | ||
Loss on the Expected Sale | $ 0 | 68.8 |
Flat Ridge II | ||
Adjustments to Reconcile Net Income to Net Cash Flows from (Used for) Operating Activities: | ||
Impairment of Equity Method Investment | 0 | 185.5 |
Competitive Contracted Renewable Portfolio | ||
Adjustments to Reconcile Net Income to Net Cash Flows from (Used for) Operating Activities: | ||
Loss on the Expected Sale | 112 | 0 |
Renewable Energy Facilities | ||
Investing Activities | ||
Acquisitions of Assets | (145.7) | (1,207.3) |
AEP Texas Inc. [Member] | ||
Operating Activities | ||
Net Income (Loss) | 156.7 | 159.6 |
Adjustments to Reconcile Net Income to Net Cash Flows from (Used for) Operating Activities: | ||
Depreciation and Amortization | 225.9 | 225 |
Deferred Income Taxes | 28.5 | 24.6 |
Allowance for Equity Funds Used During Construction | (11.6) | (8) |
Mark-to-Market of Risk Management Contracts | 0.4 | (0.2) |
Property Taxes | (60) | (54.8) |
Change in Other Noncurrent Assets | (89.7) | (25.9) |
Change in Other Noncurrent Liabilities | 7.8 | 32.1 |
Changes in Certain Components of Working Capital: | ||
Accounts Receivable, Net | (33.1) | (70.3) |
Fuel, Materials and Supplies | (18.5) | (24.1) |
Accounts Payable | 1.9 | 17.9 |
Accrued Taxes, Net | 50.2 | 34 |
Other Current Assets | 2.9 | (0.8) |
Other Current Liabilities | (34.4) | 31.9 |
Net Cash Flows from (Used for) Operating Activities | 227 | 341 |
Investing Activities | ||
Construction Expenditures | (834.2) | (647.6) |
Change in Advances to Affiliates, Net | 0 | (634) |
Other Investing Activities | 20.2 | 22.3 |
Net Cash Flows from (Used for) Investing Activities | (814) | (1,259.3) |
Financing Activities | ||
Capital Contributions from Parent | 275.3 | 1.3 |
Return of Capital to Parent Cash Flows | (4.3) | 0 |
Issuance of Long-term Debt | 445.9 | 1,188.6 |
Change in Advances from Affiliates, Net | 39.4 | (26.9) |
Retirement of Long-term Debt | (168.2) | (242) |
Principal Payments for Finance Leases Obligations | (3.7) | (3.4) |
Other Financing Activities | 0.6 | 0 |
Net Cash Flows from (Used for) Financing Activities | 585 | 917.6 |
Net Increase (Decrease) in Cash and Cash Equivalents | (2) | (0.7) |
Cash, Cash Equivalents and Restricted Cash at Beginning of Period | 32.8 | 30.5 |
Cash and Cash Equivalents at Beginning of Period | 0.1 | |
Cash, Cash Equivalents and Restricted Cash at End of Period | 30.8 | 29.8 |
Cash and Cash Equivalents at End of Period | 0.1 | |
Supplementary Information | ||
Cash Paid for Interest, Net of Capitalized Amounts | 108.3 | 88.8 |
Net Cash Paid (Received) for Income Taxes | 0.7 | 5.9 |
Noncash Acquisitions Under Finance Leases | 2.6 | 3 |
Construction Expenditures Included in Current Liabilities as of March 31, | 147.2 | 135.9 |
AEP Transmission Co [Member] | ||
Operating Activities | ||
Net Income (Loss) | 338.4 | 273.9 |
Adjustments to Reconcile Net Income to Net Cash Flows from (Used for) Operating Activities: | ||
Depreciation and Amortization | 191.6 | 168.8 |
Deferred Income Taxes | 42.7 | 37.3 |
Allowance for Equity Funds Used During Construction | (39.5) | (30.9) |
Property Taxes | 110.7 | 101.4 |
Provision for Refund Affiliated | 13.1 | 56.4 |
Change in Other Noncurrent Assets | 3.4 | 1.8 |
Change in Other Noncurrent Liabilities | 1.7 | 44.3 |
Changes in Certain Components of Working Capital: | ||
Accounts Receivable, Net | (104.1) | (36.7) |
Fuel, Materials and Supplies | (4.8) | (2.2) |
Accounts Payable | 64.6 | 13.1 |
Accrued Taxes, Net | (133.3) | (107.6) |
Other Current Assets | 1.3 | 0.9 |
Other Current Liabilities | 10.2 | (0.9) |
Net Cash Flows from (Used for) Operating Activities | 482.9 | 463.2 |
Investing Activities | ||
Construction Expenditures | (876.1) | (730.9) |
Change in Advances to Affiliates, Net | (75) | (109.8) |
Other Investing Activities | 2.6 | (8) |
Net Cash Flows from (Used for) Investing Activities | (948.5) | (848.7) |
Financing Activities | ||
Capital Contributions from Parent | 25 | 2.8 |
Return of Capital to Parent Cash Flows | (8.6) | 0 |
Issuance of Long-term Debt | 689.1 | 540.9 |
Change in Advances from Affiliates, Net | (154.9) | (68.2) |
Dividends Paid on Common Stock | (85) | (90) |
Net Cash Flows from (Used for) Financing Activities | 465.6 | 385.5 |
Net Increase (Decrease) in Cash and Cash Equivalents | 0 | 0 |
Cash and Cash Equivalents at Beginning of Period | 0 | 0 |
Cash and Cash Equivalents at End of Period | 0 | 0 |
Supplementary Information | ||
Cash Paid for Interest, Net of Capitalized Amounts | 82.8 | 74 |
Net Cash Paid (Received) for Income Taxes | 32 | 39.7 |
Construction Expenditures Included in Current Liabilities as of March 31, | 238.4 | 228.7 |
Appalachian Power Co [Member] | ||
Operating Activities | ||
Net Income (Loss) | 155.4 | 210.4 |
Adjustments to Reconcile Net Income to Net Cash Flows from (Used for) Operating Activities: | ||
Depreciation and Amortization | 281.1 | 288.1 |
Deferred Income Taxes | (2.8) | 17.1 |
Allowance for Equity Funds Used During Construction | (5.1) | (4.6) |
Mark-to-Market of Risk Management Contracts | 27.4 | (38.5) |
Deferred Fuel Over/Under-Recovery, Net | 54.2 | (312.1) |
Change in Other Noncurrent Assets | 7.7 | (42.3) |
Change in Other Noncurrent Liabilities | (39.3) | (0.2) |
Changes in Certain Components of Working Capital: | ||
Accounts Receivable, Net | 60.4 | 65.4 |
Fuel, Materials and Supplies | (113.4) | (75.4) |
Increase (Decrease) in Margin Deposits Outstanding | (11.7) | 64.5 |
Accounts Payable | (128.7) | 162.8 |
Accrued Taxes, Net | 13.4 | (5.7) |
Other Current Assets | 5.1 | 0.7 |
Other Current Liabilities | (20.8) | (0.7) |
Net Cash Flows from (Used for) Operating Activities | 282.9 | 329.5 |
Investing Activities | ||
Construction Expenditures | (558.2) | (450.8) |
Change in Advances to Affiliates, Net | 0.9 | 1.4 |
Other Investing Activities | 2.7 | 23.3 |
Net Cash Flows from (Used for) Investing Activities | (554.6) | (426.1) |
Financing Activities | ||
Capital Contributions from Parent | 4.3 | 2.8 |
Issuance of Long-term Debt | 200 | 103.3 |
Change in Advances from Affiliates, Net | 83.9 | 149.9 |
Retirement of Long-term Debt | (13) | (117.1) |
Principal Payments for Finance Leases Obligations | (4.1) | (4) |
Dividends Paid on Common Stock | 0 | (37.5) |
Other Financing Activities | 0.6 | 0.2 |
Net Cash Flows from (Used for) Financing Activities | 271.7 | 97.6 |
Net Increase (Decrease) in Cash and Cash Equivalents | 0 | 1 |
Cash, Cash Equivalents and Restricted Cash at Beginning of Period | 21.9 | 20.1 |
Cash and Cash Equivalents at Beginning of Period | 7.5 | |
Cash, Cash Equivalents and Restricted Cash at End of Period | 21.9 | 21.1 |
Cash and Cash Equivalents at End of Period | 6.8 | |
Supplementary Information | ||
Cash Paid for Interest, Net of Capitalized Amounts | 125.9 | 104.9 |
Net Cash Paid (Received) for Income Taxes | 23.4 | 1 |
Noncash Acquisitions Under Finance Leases | 1.7 | 0.5 |
Construction Expenditures Included in Current Liabilities as of March 31, | 139.6 | 121.2 |
Indiana Michigan Power Co [Member] | ||
Operating Activities | ||
Net Income (Loss) | 177.6 | 156.7 |
Adjustments to Reconcile Net Income to Net Cash Flows from (Used for) Operating Activities: | ||
Depreciation and Amortization | 236.2 | 268.6 |
Deferred Income Taxes | (1.9) | 0.3 |
Amortization (Deferral) of Incremental Nuclear Refueling Outage Expenses, Net | 36.7 | (38.3) |
Allowance for Equity Funds Used During Construction | (2.8) | (5.4) |
Mark-to-Market of Risk Management Contracts | (13.7) | (11.6) |
Amortization of Nuclear Fuel | 50.2 | 39 |
Deferred Fuel Over/Under-Recovery, Net | 29.6 | (17.5) |
Change in Other Noncurrent Assets | (7) | 3.3 |
Change in Other Noncurrent Liabilities | (4.6) | 22.2 |
Changes in Certain Components of Working Capital: | ||
Accounts Receivable, Net | 37.3 | 24 |
Fuel, Materials and Supplies | (52.7) | 4.5 |
Accounts Payable | 46.8 | 13.6 |
Accrued Taxes, Net | (3) | (2.4) |
Other Current Assets | (3.6) | 15.2 |
Other Current Liabilities | (23.4) | (20.1) |
Net Cash Flows from (Used for) Operating Activities | 501.7 | 452.1 |
Investing Activities | ||
Construction Expenditures | (267.1) | (262.5) |
Change in Advances to Affiliates, Net | (17.5) | (1) |
Purchases of Investment Securities | (1,233.3) | (1,253.2) |
Sales of Investment Securities | 1,206.3 | 1,229.9 |
Acquisitions of Nuclear Fuel | (73.9) | (67.7) |
Other Investing Activities | 3.3 | 3 |
Net Cash Flows from (Used for) Investing Activities | (382.2) | (351.5) |
Financing Activities | ||
Capital Contributions from Parent | 0.1 | 1.3 |
Issuance of Long-term Debt | 494.9 | 72.8 |
Change in Advances from Affiliates, Net | (249.9) | (42.8) |
Retirement of Long-term Debt | (299.2) | (40.7) |
Principal Payments for Finance Leases Obligations | (3.8) | (40.1) |
Dividends Paid on Common Stock | (62.5) | (50) |
Other Financing Activities | 0.5 | 0.4 |
Net Cash Flows from (Used for) Financing Activities | (119.9) | (99.1) |
Net Increase (Decrease) in Cash and Cash Equivalents | (0.4) | 1.5 |
Cash and Cash Equivalents at Beginning of Period | 4.2 | 1.3 |
Cash and Cash Equivalents at End of Period | 3.8 | 2.8 |
Supplementary Information | ||
Cash Paid for Interest, Net of Capitalized Amounts | 62.1 | 59.2 |
Net Cash Paid (Received) for Income Taxes | 13.8 | (4.9) |
Noncash Acquisitions Under Finance Leases | 3.2 | 0.4 |
Construction Expenditures Included in Current Liabilities as of March 31, | 78.1 | 68.2 |
Acquisition of Nuclear Fuel Included in Current Liabilities as of March 31, | (36) | 0 |
Ohio Power Co [Member] | ||
Operating Activities | ||
Net Income (Loss) | 145.7 | 158 |
Adjustments to Reconcile Net Income to Net Cash Flows from (Used for) Operating Activities: | ||
Depreciation and Amortization | 143.4 | 146.2 |
Deferred Income Taxes | 7.1 | 13.8 |
Allowance for Equity Funds Used During Construction | (5.7) | (6.4) |
Mark-to-Market of Risk Management Contracts | 14.3 | (44.3) |
Property Taxes | 193.9 | 178.6 |
Change in Other Noncurrent Assets | (88) | (53.1) |
Change in Other Noncurrent Liabilities | (37.7) | 44.3 |
Changes in Certain Components of Working Capital: | ||
Accounts Receivable, Net | 8.2 | (35.8) |
Fuel, Materials and Supplies | (2.5) | (10.1) |
Accounts Payable | 30.8 | 78.2 |
Increase (Decrease) in Contract with Customer, Liability | (37) | 142.5 |
Accrued Taxes, Net | (289.9) | (246.8) |
Other Current Assets | 2.3 | 12.2 |
Other Current Liabilities | (15.3) | 35.6 |
Net Cash Flows from (Used for) Operating Activities | 69.6 | 412.9 |
Investing Activities | ||
Construction Expenditures | (547.7) | (376.4) |
Change in Advances to Affiliates, Net | 0 | (14) |
Other Investing Activities | 11.1 | 12.6 |
Net Cash Flows from (Used for) Investing Activities | (536.6) | (377.8) |
Financing Activities | ||
Capital Contributions from Parent | 175 | 0.7 |
Issuance of Long-term Debt | 395.1 | 0 |
Change in Advances from Affiliates, Net | (100.6) | 0 |
Retirement of Long-term Debt | (0.6) | (0.1) |
Principal Payments for Finance Leases Obligations | (2.4) | (2.4) |
Dividends Paid on Common Stock | 0 | (30) |
Other Financing Activities | 0.6 | 0.6 |
Net Cash Flows from (Used for) Financing Activities | 467.1 | (31.2) |
Net Increase (Decrease) in Cash and Cash Equivalents | 0.1 | 3.9 |
Cash, Cash Equivalents and Restricted Cash at Beginning of Period | 9.6 | 3 |
Cash and Cash Equivalents at Beginning of Period | 9.6 | |
Cash, Cash Equivalents and Restricted Cash at End of Period | 9.7 | 6.9 |
Cash and Cash Equivalents at End of Period | 9.7 | |
Supplementary Information | ||
Cash Paid for Interest, Net of Capitalized Amounts | 57.6 | 56.8 |
Net Cash Paid (Received) for Income Taxes | 9.2 | 21.4 |
Noncash Acquisitions Under Finance Leases | 2.1 | 1.2 |
Construction Expenditures Included in Current Liabilities as of March 31, | 87.4 | 92.9 |
Public Service Co Of Oklahoma [Member] | ||
Operating Activities | ||
Net Income (Loss) | 48.7 | 48.8 |
Adjustments to Reconcile Net Income to Net Cash Flows from (Used for) Operating Activities: | ||
Depreciation and Amortization | 126 | 113.2 |
Deferred Income Taxes | 13.1 | (20.4) |
Allowance for Equity Funds Used During Construction | (2.9) | (1.3) |
Mark-to-Market of Risk Management Contracts | (19.3) | (56.2) |
Property Taxes | (27.9) | (24.4) |
Deferred Fuel Over/Under-Recovery, Net | 146.3 | (124.2) |
Change in Other Regulatory Assets | (57.3) | (4.8) |
Change in Other Noncurrent Assets | (22.7) | (12.2) |
Change in Other Noncurrent Liabilities | (0.6) | 10.4 |
Changes in Certain Components of Working Capital: | ||
Accounts Receivable, Net | (25) | (30.6) |
Fuel, Materials and Supplies | (2.6) | (10.8) |
Accounts Payable | 75.2 | 123.7 |
Accrued Taxes, Net | 8.9 | 23.9 |
Other Current Assets | 5.3 | (16.8) |
Other Current Liabilities | (8.4) | 9.9 |
Net Cash Flows from (Used for) Operating Activities | 256.8 | 37.8 |
Investing Activities | ||
Construction Expenditures | (263.6) | (200.2) |
Acquisitions of Assets | (146) | |
Other Investing Activities | 1.1 | 2.3 |
Net Cash Flows from (Used for) Investing Activities | (408.2) | (747.2) |
Financing Activities | ||
Capital Contributions from Parent | 0 | 2.2 |
Return of Capital to Parent Cash Flows | (2.5) | 0 |
Issuance of Long-term Debt | 469.8 | 500 |
Change in Advances from Affiliates, Net | (296.1) | 211.1 |
Retirement of Long-term Debt | (0.3) | (0.3) |
Principal Payments for Finance Leases Obligations | (1.7) | (1.6) |
Dividends Paid on Common Stock | (17.5) | 0 |
Other Financing Activities | 0.3 | 0.3 |
Net Cash Flows from (Used for) Financing Activities | 152 | 711.7 |
Net Increase (Decrease) in Cash and Cash Equivalents | 0.6 | 2.3 |
Cash and Cash Equivalents at Beginning of Period | 4 | 1.3 |
Cash and Cash Equivalents at End of Period | 4.6 | 3.6 |
Supplementary Information | ||
Cash Paid for Interest, Net of Capitalized Amounts | 37.6 | 38.1 |
Net Cash Paid (Received) for Income Taxes | (6.1) | 12.2 |
Noncash Acquisitions Under Finance Leases | 1.2 | 1.1 |
Construction Expenditures Included in Current Liabilities as of March 31, | 83.6 | 41.6 |
Public Service Co Of Oklahoma [Member] | Renewable Energy Facilities | ||
Investing Activities | ||
Acquisitions of Assets | (145.7) | (549.3) |
Southwestern Electric Power Co [Member] | ||
Operating Activities | ||
Net Income (Loss) | 123.1 | 123.9 |
Adjustments to Reconcile Net Income to Net Cash Flows from (Used for) Operating Activities: | ||
Depreciation and Amortization | 166.2 | 156 |
Deferred Income Taxes | 28 | (1.4) |
Allowance for Equity Funds Used During Construction | (3) | (2.4) |
Mark-to-Market of Risk Management Contracts | (11.1) | (36.6) |
Property Taxes | (49.3) | (44) |
Deferred Fuel Over/Under-Recovery, Net | 103.6 | (53.6) |
Change in Regulatory Assets | (43.8) | 0.3 |
Change in Other Noncurrent Assets | 5 | 45.1 |
Change in Other Noncurrent Liabilities | (22.4) | 10.4 |
Changes in Certain Components of Working Capital: | ||
Accounts Receivable, Net | (4.3) | (34.7) |
Fuel, Materials and Supplies | (12.2) | 8.7 |
Accounts Payable | 81.2 | 46.2 |
Accrued Taxes, Net | 39.7 | 41.3 |
Other Current Assets | 20.5 | (7.7) |
Other Current Liabilities | (36.5) | (34) |
Net Cash Flows from (Used for) Operating Activities | 384.7 | 217.5 |
Investing Activities | ||
Construction Expenditures | (429.6) | (247) |
Change in Advances to Affiliates, Net | (0.1) | 153.8 |
Acquisitions of Assets | 0 | 658 |
Other Investing Activities | 0.8 | 3.2 |
Net Cash Flows from (Used for) Investing Activities | (428.9) | (748) |
Financing Activities | ||
Capital Contributions from Parent | 50 | 352.2 |
Issuance of Long-term Debt | 346.8 | 0 |
Change in Short-term Debt with Original Maturities less than 90 Days, Net | 3.9 | 0 |
Change in Advances from Affiliates, Net | (278.1) | 213.2 |
Retirement of Long-term Debt | (94.1) | (3.1) |
Principal Payments for Finance Leases Obligations | (16.2) | (5.4) |
Dividends Paid on Common Stock | (50) | (12.5) |
Dividends Paid on Common Stock | (2.1) | (1.5) |
Other Financing Activities | 0.2 | 0.1 |
Net Cash Flows from (Used for) Financing Activities | (39.6) | 543 |
Net Increase (Decrease) in Cash and Cash Equivalents | (83.8) | 12.5 |
Cash and Cash Equivalents at Beginning of Period | 88.4 | 51.2 |
Cash and Cash Equivalents at End of Period | 4.6 | 63.7 |
Supplementary Information | ||
Cash Paid for Interest, Net of Capitalized Amounts | 48.7 | 63.6 |
Net Cash Paid (Received) for Income Taxes | (17.1) | 20.1 |
Noncash Acquisitions Under Finance Leases | 2.6 | 2.8 |
Construction Expenditures Included in Current Liabilities as of March 31, | $ 85.7 | $ 63.3 |
Significant Accounting Matters
Significant Accounting Matters | 6 Months Ended |
Jun. 30, 2023 | |
Significant Accounting Matters | SIGNIFICANT ACCOUNTING MATTERS The disclosures in this note apply to all Registrants unless indicated otherwise. General The unaudited condensed financial statements and footnotes were prepared in accordance with GAAP for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X of the SEC. Accordingly, they do not include all of the information and footnotes required by GAAP for complete annual financial statements. In the opinion of management, the unaudited condensed interim financial statements reflect all normal and recurring accruals and adjustments necessary for a fair statement of the net income, financial position and cash flows for the interim periods for each Registrant. Net income for the three and six months ended June 30, 2023 is not necessarily indicative of results that may be expected for the year ending December 31, 2023. The condensed financial statements are unaudited and should be read in conjunction with the audited 2022 financial statements and notes thereto, which are included in the Registrants’ Annual Reports on Form 10-K as filed with the SEC on February 23, 2023. Earnings Per Share (EPS) (Applies to AEP) Basic EPS is calculated by dividing net earnings available to common shareholders by the weighted-average number of common shares outstanding during the period. Diluted EPS is calculated by adjusting the weighted-average outstanding common shares, assuming conversion of all potentially dilutive stock awards. The following table presents AEP’s basic and diluted EPS calculations included on the statements of income: Three Months Ended June 30, 2023 2022 (in millions, except per share data) $/share $/share Earnings Attributable to AEP Common Shareholders $ 521.2 $ 524.5 Weighted-Average Number of Basic AEP Common Shares Outstanding 514.9 $ 1.01 513.6 $ 1.02 Weighted-Average Dilutive Effect of Stock-Based Awards 1.3 — 1.6 — Weighted-Average Number of Diluted AEP Common Shares Outstanding 516.2 $ 1.01 515.2 $ 1.02 Six Months Ended June 30, 2023 2022 (in millions, except per share data) $/share $/share Earnings Attributable to AEP Common Shareholders $ 918.2 $ 1,239.2 Weighted-Average Number of Basic AEP Common Shares Outstanding 514.5 $ 1.78 509.9 $ 2.43 Weighted-Average Dilutive Effect of Stock-Based Awards 1.4 — 1.5 (0.01) Weighted-Average Number of Diluted AEP Common Shares Outstanding 515.9 $ 1.78 511.4 $ 2.42 Equity Units are potentially dilutive securities and were excluded from the calculation of diluted EPS for the three and six months ended June 30, 2023 and 2022, as the dilutive stock price threshold was not met. See Note 12 - Financing Activities for more information related to Equity Units. There were no antidilutive shares outstanding as of June 30, 2023 and 2022, respectively. Restricted Cash (Applies to AEP, AEP Texas and APCo) Restricted Cash primarily includes funds held by trustees for the payment of securitization bonds. Reconciliation of Cash, Cash Equivalents and Restricted Cash The following tables provide a reconciliation of Cash, Cash Equivalents and Restricted Cash reported within the balance sheets that sum to the total of the same amounts shown on the statements of cash flows: June 30, 2023 AEP AEP Texas APCo (in millions) Cash and Cash Equivalents $ 304.9 $ 0.1 $ 6.8 Restricted Cash 45.8 30.7 15.1 Total Cash, Cash Equivalents and Restricted Cash $ 350.7 $ 30.8 $ 21.9 December 31, 2022 AEP AEP Texas APCo (in millions) Cash and Cash Equivalents $ 509.4 $ 0.1 $ 7.5 Restricted Cash 47.1 32.7 14.4 Total Cash, Cash Equivalents and Restricted Cash $ 556.5 $ 32.8 $ 21.9 |
New Accounting Standards
New Accounting Standards | 6 Months Ended |
Jun. 30, 2023 | |
New Accounting Standards | NEW ACCOUNTING STANDARDS The disclosures in this note apply to all Registrants unless indicated otherwise. During the FASB’s standard-setting process and upon issuance of final standards, management reviews the new accounting literature to determine its relevance, if any, to the Registrants’ business. There are no new standards expected to have a material impact on the Registrants’ financial statements. |
Comprehensive Income
Comprehensive Income | 6 Months Ended |
Jun. 30, 2023 | |
Comprehensive Income | COMPREHENSIVE INCOME The disclosures in this note apply to AEP only. The impact of AOCI is not material to the financial statements of the Registrant Subsidiaries. Presentation of Comprehensive Income The following tables provide AEP’s components of changes in AOCI and details of reclassifications from AOCI. The amortization of pension and OPEB AOCI components are included in the computation of net periodic pension and OPEB costs. See Note 7 - Benefit Plans for additional information. Cash Flow Hedges Pension Three Months Ended June 30, 2023 Commodity Interest Rate and OPEB Total (in millions) Balance in AOCI as of March 31, 2023 $ 65.3 $ 6.1 $ (139.5) $ (68.1) Change in Fair Value Recognized in AOCI, Net of Tax 5.9 7.0 — 12.9 Amount of (Gain) Loss Reclassified from AOCI Purchased Electricity, Fuel and Other Consumables Used for Electric Generation (a) 28.3 — — 28.3 Interest Expense (a) — (0.5) — (0.5) Amortization of Prior Service Cost (Credit) — — (5.3) (5.3) Amortization of Actuarial (Gains) Losses — — 1.4 1.4 Reclassifications from AOCI, before Income Tax (Expense) Benefit 28.3 (0.5) (3.9) 23.9 Income Tax (Expense) Benefit 6.0 (0.1) (0.8) 5.1 Reclassifications from AOCI, Net of Income Tax (Expense) Benefit 22.3 (0.4) (3.1) 18.8 Net Current Period Other Comprehensive Income (Loss) 28.2 6.6 (3.1) 31.7 Balance in AOCI as of June 30, 2023 $ 93.5 $ 12.7 $ (142.6) $ (36.4) Cash Flow Hedges Pension Three Months Ended June 30, 2022 Commodity Interest Rate and OPEB Total (in millions) Balance in AOCI as of March 31, 2022 $ 404.0 $ (13.6) $ 40.2 $ 430.6 Change in Fair Value Recognized in AOCI, Net of Tax 257.3 2.0 — 259.3 Amount of (Gain) Loss Reclassified from AOCI Generation & Marketing Revenues (a) 0.1 — — 0.1 Purchased Electricity, Fuel and Other Consumables Used for Electric Generation (a) (161.8) — — (161.8) Interest Expense (a) — 1.1 — 1.1 Amortization of Prior Service Cost (Credit) — — (5.4) (5.4) Amortization of Actuarial (Gains) Losses — — 2.1 2.1 Reclassifications from AOCI, before Income Tax (Expense) Benefit (161.7) 1.1 (3.3) (163.9) Income Tax (Expense) Benefit (34.0) 0.3 (0.7) (34.4) Reclassifications from AOCI, Net of Income Tax (Expense) Benefit (127.7) 0.8 (2.6) (129.5) Reclassifications of KPCo Pension and OPEB Regulatory Assets to AOCI — — (11.4) (11.4) Income Tax (Expense) Benefit — — (2.4) (2.4) Reclassifications of KPCo Pension and OPEB Regulatory Assets to AOCI, Net of Income Tax (Expense) Benefit — — (9.0) (9.0) Net Current Period Other Comprehensive Income (Loss) 129.6 2.8 (11.6) 120.8 Balance in AOCI as of June 30, 2022 $ 533.6 $ (10.8) $ 28.6 $ 551.4 Cash Flow Hedges Pension Six Months Ended June 30, 2023 Commodity Interest Rate and OPEB Total (in millions) Balance in AOCI as of December 31, 2022 $ 223.5 $ 0.3 $ (140.1) $ 83.7 Change in Fair Value Recognized in AOCI, Net of Tax (189.4) 12.2 (12.9) (190.1) Amount of (Gain) Loss Reclassified from AOCI Purchased Electricity, Fuel and Other Consumables Used for Electric Generation (a) 75.3 — — 75.3 Interest Expense (a) — 0.2 — 0.2 Amortization of Prior Service Cost (Credit) — — (10.6) (10.6) Amortization of Actuarial (Gains) Losses — — 2.6 2.6 Reclassifications from AOCI, before Income Tax (Expense) Benefit 75.3 0.2 (8.0) 67.5 Income Tax (Expense) Benefit 15.9 — (1.7) 14.2 Reclassifications from AOCI, Net of Income Tax (Expense) Benefit 59.4 0.2 (6.3) 53.3 Reclassifications of KPCo Pension and OPEB Regulatory Assets from AOCI — — 21.1 21.1 Income Tax (Expense) Benefit — — 4.4 4.4 Reclassifications of KPCo Pension and OPEB Regulatory Assets from AOCI, Net of Income Tax (Expense) Benefit — — 16.7 16.7 Net Current Period Other Comprehensive Income (Loss) (130.0) 12.4 (2.5) (120.1) Balance in AOCI as of June 30, 2023 $ 93.5 $ 12.7 $ (142.6) $ (36.4) Cash Flow Hedges Pension Six Months Ended June 30, 2022 Commodity Interest Rate and OPEB Total (in millions) Balance in AOCI as of December 31, 2021 $ 163.7 $ (21.3) $ 42.4 $ 184.8 Change in Fair Value Recognized in AOCI, Net of Tax 535.5 8.8 — 544.3 Amount of (Gain) Loss Reclassified from AOCI Purchased Electricity, Fuel and Other Consumables Used for Electric Generation (a) (209.7) — — (209.7) Interest Expense (a) — 2.2 — 2.2 Amortization of Prior Service Cost (Credit) — — (10.3) (10.3) Amortization of Actuarial (Gains) Losses — — 4.2 4.2 Reclassifications from AOCI, before Income Tax (Expense) Benefit (209.7) 2.2 (6.1) (213.6) Income Tax (Expense) Benefit (44.1) 0.5 (1.3) (44.9) Reclassifications from AOCI, Net of Income Tax (Expense) Benefit (165.6) 1.7 (4.8) (168.7) Reclassifications of KPCo Pension and OPEB Regulatory Assets to AOCI — — (11.4) (11.4) Income Tax (Expense) Benefit — — (2.4) (2.4) Reclassifications of KPCo Pension and OPEB Regulatory Assets to AOCI, Net of Income Tax (Expense) Benefit — — (9.0) (9.0) Net Current Period Other Comprehensive Income (Loss) 369.9 10.5 (13.8) 366.6 Balance in AOCI as of June 30, 2022 $ 533.6 $ (10.8) $ 28.6 $ 551.4 (a) Amounts reclassified to the referenced line item on the statements of income. |
Rate Matters
Rate Matters | 6 Months Ended |
Jun. 30, 2023 | |
Rate Matters | RATE MATTERS The disclosures in this note apply to all Registrants unless indicated otherwise. As discussed in the 2022 Annual Report, the Registrants are involved in rate and regulatory proceedings at the FERC and their state commissions. The Rate Matters note within the 2022 Annual Report should be read in conjunction with this report to gain a complete understanding of material rate matters still pending that could impact net income, cash flows and possibly financial condition. The following discusses ratemaking developments in 2023 and updates the 2022 Annual Report. Coal-Fired Generation Plants (Applies to AEP, PSO and SWEPCo) Compliance with extensive environmental regulations requires significant capital investment in environmental monitoring, installation of pollution control equipment, emission fees, disposal costs and permits. Management continuously evaluates cost estimates of complying with these regulations which has resulted in, and in the future may result in, a decision to retire coal-fired generating facilities earlier than their currently estimated useful lives. Management is seeking or will seek regulatory recovery, as necessary, for any net book value remaining when the plants are retired. To the extent the net book value of these generation assets is not deemed recoverable, it could reduce future net income and cash flows and impact financial condition. Regulated Generating Units that have been Retired SWEPCo In December 2021, the Dolet Hills Power Station was retired. As part of the 2020 Texas Base Rate Case, the PUCT authorized recovery of SWEPCo’s Texas jurisdictional share of the Dolet Hills Power Station through 2046, but denied SWEPCo the ability to earn a return on this investment resulting in a disallowance of $12 million in 2021. As part of the 2021 Arkansas Base Rate Case, the APSC authorized recovery of SWEPCo’s Arkansas jurisdictional share of the Dolet Hills Power Station through 2027, but denied SWEPCo the ability to earn a return on this investment resulting in a disallowance of $2 million in the second quarter of 2022. Also, the APSC did not rule on the prudency of the early retirement of the Dolet Hills Power Station, which will be addressed in a future proceeding. As part of the 2020 Louisiana Base Rate Case, the LPSC authorized the recovery of SWEPCo’s Louisiana share of the Dolet Hills Power Station, through a separate rider, through 2032, but did not rule on the prudency of the early retirement of the plant, which is being addressed in a separate proceeding. See “2020 Texas Base Rate Case” and “2020 Louisiana Base Rate Case” sections below for additional information. In March 2023, the Pirkey Plant was retired. As part of the 2020 Louisiana Base Rate Case, the LPSC authorized the recovery of SWEPCo’s Louisiana jurisdictional share of the Pirkey Plant, through a separate rider, through 2032. As part of the 2021 Arkansas Base Rate Case, the APSC granted SWEPCo regulatory asset treatment. SWEPCo will request recovery including a weighted average cost of capital carrying charge through a future proceeding. The Texas jurisdictional share of the Pirkey Plant will be addressed in SWEPCo’s next base rate case. Regulated Generating Units to be Retired PSO In 2014, PSO received final approval from the Federal EPA to close Northeastern Plant, Unit 3, in 2026. The plant was originally scheduled to close in 2040. As a result of the early retirement date, PSO revised the useful life of Northeastern Plant, Unit 3, to the projected retirement date of 2026 and the incremental depreciation is being deferred as a regulatory asset. As part of the 2021 Oklahoma Base Rate Case, PSO will continue to recover Northeastern Plant, Unit 3 through 2040. SWEPCo In November 2020, management announced that it will cease using coal at the Welsh Plant in 2028. As a result of the announcement, SWEPCo began recording a regulatory asset for accelerated depreciation. The table below summarizes the net book value including CWIP, before cost of removal and materials and supplies, as of June 30, 2023, of generating facilities planned for early retirement: Plant Net Book Value Accelerated Depreciation Regulatory Asset Cost of Removal Projected Current Authorized Annual (dollars in millions) Northeastern Plant, Unit 3 $ 120.5 $ 154.9 $ 20.4 (b) 2026 (c) $ 14.9 Welsh Plant, Units 1 and 3 384.3 105.4 58.2 (d) 2028 (e) (f) 38.6 (a) Represents the amount of annual depreciation that has been collected from customers over the prior 12-month period. (b) Includes Northeastern Plant, Unit 4, which was retired in 2016. Removal of Northeastern Plant, Unit 4, will be performed with the removal of Northeastern Plant, Unit 3, after retirement. (c) Northeastern Plant, Unit 3 is currently being recovered through 2040. (d) Includes Welsh Plant, Unit 2, which was retired in 2016. Removal of Welsh Plant, Unit 2, will be performed with the removal of Welsh Plant, Units 1 and 3, after retirement. (e) Represents projected retirement date of coal assets, units are being evaluated for conversion to natural gas after 2028. (f) Unit 1 is being recovered through 2027 in the Louisiana jurisdiction and through 2037 in the Arkansas and Texas jurisdictions. Unit 3 is being recovered through 2032 in the Louisiana jurisdiction and through 2042 in the Arkansas and Texas jurisdictions. Dolet Hills Power Station and Related Fuel Operations (Applies to AEP and SWEPCo) In December 2021, the Dolet Hills Power Station was retired. While in operation, DHLC provided 100% of the fuel supply to Dolet Hills Power Station. The remaining book value of Dolet Hills Power Station non-fuel related assets are recoverable by SWEPCo through rate riders. As of June 30, 2023, SWEPCo’s share of the net investment in the Dolet Hills Power Station was $108 million, including materials and supplies, net of cost of removal collected in rates. Fuel costs incurred by the Dolet Hills Power Station are recoverable by SWEPCo through active fuel clauses and are subject to prudency determinations by the various commissions. After closure of the DHLC mining operations and the Dolet Hills Power Station, additional reclamation and other land-related costs incurred by DHLC and Oxbow will continue to be billed to SWEPCo and included in existing fuel clauses. As of June 30, 2023, SWEPCo had a net under-recovered fuel balance of $120 million, inclusive of costs related to the Dolet Hills Power Station billed by DHLC, but excluding impacts of the February 2021 severe winter weather event. In March 2021, the LPSC issued an order allowing SWEPCo to recover up to $20 million of fuel costs in 2021 and defer approximately $34 million of additional costs with a recovery period to be determined at a later date. In August 2022, the LPSC staff filed testimony recommending fuel disallowances of $72 million, including denial of recovery of the $34 million deferral, with refunds to customers over five years. In September 2022, SWEPCo filed rebuttal testimony addressing the LPSC staff recommendations and a hearing was held in May 2023. In March 2021, the APSC approved fuel rates that provide recovery of $20 million for the Arkansas share of the 2021 Dolet Hills Power Station fuel costs over five years through the existing fuel clause. In June 2023, an unopposed settlement agreement was filed with the PUCT that would provide recovery of $48 million of Oxbow mine related costs through 2035. A decision from the PUCT on the unopposed settlement agreement is expected in the fourth quarter of 2023. If any of these costs are not recoverable, it could reduce future net income and cash flows and impact financial condition. Pirkey Plant and Related Fuel Operations (Applies to AEP and SWEPCo) In March 2023, the Pirkey Plant was retired. SWEPCo is recovering, or will seek recovery of, the remaining net book value of Pirkey Plant non-fuel costs. As of June 30, 2023, SWEPCo’s share of the net investment in the Pirkey Plant was $177 million, including materials and supplies, net of cost of removal. See the “Regulated Generating Units that have been Retired” section above for additional information. Fuel costs are recovered through active fuel clauses and are subject to prudency determinations by the various commissions. As of March 31, 2023, SWEPCo fuel deliveries, including billings of all fixed costs, from Sabine ceased. Additionally, as of June 30, 2023, SWEPCo had a net under-recovered fuel balance of $120 million, inclusive of costs related to the Pirkey Plant billed by Sabine, but excluding impacts of the February 2021 severe winter weather event. Remaining operational, reclamation and other land-related costs incurred by Sabine will be billed to SWEPCo and included in existing fuel clauses. In June 2023, an unopposed settlement agreement was filed with the PUCT that would provide recovery of $33 million of Sabine related fuel costs through 2035. In July 2023, Texas ALJs issued a proposal for decision that concluded the decision to retire the Pirkey Plant was prudent. A decision from the PUCT on the unopposed settlement agreement and the Texas ALJ proposal for decision is expected in the second half of 2023. Additionally in July 2023, the LPSC ordered that a separate proceeding be established to review the prudence of the decision to retire the Pirkey Plant, including the costs included in fuel for years starting in 2019 and after. If any of these costs are not recoverable, it could reduce future net income and cash flows and impact financial condition. Regulatory Assets Pending Final Regulatory Approval (Applies to all Registrants except AEPTCo) AEP June 30, December 31, 2023 2022 Noncurrent Regulatory Assets (in millions) Regulatory Assets Currently Earning a Return Pirkey Plant Accelerated Depreciation $ 111.8 $ 116.5 Unrecovered Winter Storm Fuel Costs (a) 109.5 121.7 Welsh Plant, Units 1 and 3 Accelerated Depreciation 105.4 85.6 Dolet Hills Power Station Fuel Costs - Louisiana 33.9 32.0 Texas Mobile Generation Costs 29.4 17.6 Other Regulatory Assets Pending Final Regulatory Approval 21.4 19.3 Regulatory Assets Currently Not Earning a Return Storm-Related Costs (b)(c)(d) 395.4 407.2 2020-2022 Virginia Triennial Under-Earnings 35.0 37.9 Plant Retirement Costs – Asset Retirement Obligation Costs 25.9 25.9 Other Regulatory Assets Pending Final Regulatory Approval 49.3 55.6 Total Regulatory Assets Pending Final Regulatory Approval $ 917.0 $ 919.3 (a) Includes $37 million and $37 million of unrecovered winter storm fuel costs recorded as a current regulatory asset as of June 30, 2023 and December 31, 2022, respectively. See the “February 2021 Severe Winter Weather Impacts in SPP” section below for additional information. (b) In April 2023, OPCo filed a request with the PUCO for recovery of $34 million in Ohio storm-related costs. (c) In April 2023, the LPSC issued an order approving the prudence and future recovery of the Louisiana storm-related regulatory assets. See “2021 Louisiana Storm Cost Filing” section below for additional information. (d) In June 2023, storms in the Oklahoma, Louisiana and Texas service territories caused power outages and extensive damage resulting in the deferral of $52 million, $28 million and $20 million, respectively. Recovery of these storm costs will be addressed in a future request. AEP Texas June 30, December 31, 2023 2022 Noncurrent Regulatory Assets (in millions) Regulatory Assets Currently Earning a Return Texas Mobile Generation Costs $ 29.4 $ 17.6 Regulatory Assets Currently Not Earning a Return Storm-Related Costs 34.9 26.7 Vegetation Management Program 5.2 5.2 Texas Retail Electric Provider Bad Debt Expense 4.1 4.1 Other Regulatory Assets Pending Final Regulatory Approval 13.6 13.4 Total Regulatory Assets Pending Final Regulatory Approval $ 87.2 $ 67.0 APCo June 30, December 31, 2023 2022 Noncurrent Regulatory Assets (in millions) Regulatory Assets Currently Earning a Return COVID-19 – Virginia $ 7.2 $ 7.0 Regulatory Assets Currently Not Earning a Return Storm-Related Costs - West Virginia 72.0 72.6 2020-2022 Virginia Triennial Under-Earnings 35.0 37.9 Plant Retirement Costs – Asset Retirement Obligation Costs 25.9 25.9 Other Regulatory Assets Pending Final Regulatory Approval 5.5 1.1 Total Regulatory Assets Pending Final Regulatory Approval $ 145.6 $ 144.5 I&M June 30, December 31, 2023 2022 Noncurrent Regulatory Assets (in millions) Regulatory Assets Currently Earning a Return Other Regulatory Assets Pending Final Regulatory Approval $ 0.1 $ 0.1 Regulatory Assets Currently Not Earning a Return Storm-Related Costs - Indiana 23.9 21.6 Other Regulatory Assets Pending Final Regulatory Approval 2.7 2.0 Total Regulatory Assets Pending Final Regulatory Approval $ 26.7 $ 23.7 OPCo June 30, December 31, 2023 2022 Noncurrent Regulatory Assets (in millions) Regulatory Assets Currently Not Earning a Return Storm-Related Costs (a) $ 52.7 $ 33.8 Other Regulatory Assets Pending Final Regulatory Approval 0.1 — Total Regulatory Assets Pending Final Regulatory Approval $ 52.8 $ 33.8 (a) In April 2023, OPCo filed a request with the PUCO for recovery of $34 million in storm costs. PSO June 30, December 31, 2023 2022 Noncurrent Regulatory Assets (in millions) Regulatory Assets Currently Not Earning a Return Storm-Related Costs (a) $ 84.6 $ 25.5 Other Regulatory Assets Pending Final Regulatory Approval 0.2 0.1 Total Regulatory Assets Pending Final Regulatory Approval $ 84.8 $ 25.6 (a) In June 2023, storms caused power outages and extensive damage to the Oklahoma service territory, resulting in the deferral of $52 million. Recovery for these storm costs will be included in a future request. SWEPCo June 30, December 31, 2023 2022 Noncurrent Regulatory Assets (in millions) Regulatory Assets Currently Earning a Return Pirkey Plant Accelerated Depreciation $ 111.8 $ 116.5 Unrecovered Winter Storm Fuel Costs (a) 109.5 121.7 Welsh Plant, Units 1 and 3 Accelerated Depreciation 105.4 85.6 Dolet Hills Power Station Fuel Costs - Louisiana 33.9 32.0 Dolet Hills Power Station 12.1 9.7 Other Regulatory Assets Pending Final Regulatory Approval 1.9 2.5 Regulatory Assets Currently Not Earning a Return Storm-Related Costs (b)(c) 48.0 151.5 Asset Retirement Obligation - Louisiana — 11.8 Other Regulatory Assets Pending Final Regulatory Approval 15.9 16.0 Total Regulatory Assets Pending Final Regulatory Approval $ 438.5 $ 547.3 (a) Includes $37 million and $37 million of unrecovered winter storm fuel costs recorded as a current regulatory asset as of June 30, 2023 and December 31, 2022, respectively. See the “February 2021 Severe Winter Weather Impacts in SPP” section below for additional information. (b) In April 2023, the LPSC issued an order approving the prudence and future recovery of the Louisiana storm-related regulatory assets. See “2021 Louisiana Storm Cost Filing” section below for additional information. (c) In June 2023, additional storms in the Louisiana and Texas service territories caused power outages and extensive damage resulting in the deferral of $28 million and $20 million, respectively. Recovery of these storm costs will be addressed in a future request. If these costs are ultimately determined not to be recoverable, it could reduce future net income and cash flows and impact financial condition. AEP Texas Rate Matters (Applies to AEP and AEP Texas) AEP Texas Interim Transmission and Distribution Rates Through June 30, 2023, AEP Texas’ cumulative revenues from interim base rate increases that are subject to review is approximately $791 million. A base rate review could result in a refund to customers if AEP Texas incurs a disallowance of the transmission or distribution investment on which an interim increase was based. Management is unable to determine a range of potential losses, if any, that are reasonably possible of occurring. A revenue decrease, including a refund of interim transmission and distribution rates, could reduce future net income and cash flows and impact financial condition. AEP Texas is required to file for a comprehensive rate review no later than April 5, 2024. APCo and WPCo Rate Matters (Applies to AEP and APCo) 2020-2022 Virginia Triennial Review In March 2023, APCo submitted its 2020-2022 Virginia triennial review filing and base rate case with the Virginia SCC as required by state law. APCo requested a $213 million annual increase in Virginia base rates based upon a proposed 10.6% return on common equity. The requested annual increase includes $47 million related to vegetation management and a $35 million increase in depreciation expense. The requested increase in depreciation expense reflects, among other things, the impacts of incremental investments made since APCo’s last depreciation study using property balances as of December 31, 2022. Effective January 1, 2023 and in accordance with past Virginia SCC directives, APCo implemented updated Virginia depreciation rates. APCo’s proposed revenue requirement also includes the recovery of certain costs incurred that partially contributed to APCo’s calculated earnings shortfall for the 2020-2022 triennial period. For triennial review periods in which a Virginia utility earns below its authorized ROE band, the utility may file to recover expenses incurred, up to the bottom of the authorized ROE band, related to certain categories of costs, including major storm costs for severe weather events. As of June 30, 2023, APCo deferred approximately $35 million related to previously incurred major storm costs as a result of APCo’s calculation of Virginia earnings below the bottom of its authorized ROE band during the 2020-2022 Triennial Review period. In July 2023, intervening parties submitted testimony recommending a $69 million annual Virginia base rate increase based on the following significant adjustments: (a) a 9.2% ROE, (b) a $36 million decrease in depreciation expense using a 2040 estimated Amos Plant retirement date for Virginia ratemaking purposes rather than the 2032/2033 retirement date requested by APCo, (c) the removal of $40 million of APCo’s requested increase in vegetation management expense, (d) the removal of $23 million in major storm expenses incurred during the 2020-2022 triennial period, and (e) the removal of $15 million of forecasted spending related to boiler maintenance and generation consumables expense. Virginia staff testimony is due in the third quarter of 2023 and a Virginia SCC order will be issued in the fourth quarter of 2023. Any APCo Virginia jurisdictional costs that are not recoverable or any refunds of revenues collected from customers during the triennial review period that are ordered by the Virginia SCC for the 2020-2022 Triennial Review period could reduce future net income and cash flows and impact financial condition. ENEC (Expanded Net Energy Cost) Filings In April 2021, APCo and WPCo (the Companies) requested a combined $73 million annual increase in ENEC rates based on a cumulative $55 million ENEC under-recovery as of February 28, 2021 and an $18 million increase in projected ENEC costs for the period September 2021 through August 2022. In September 2021, the WVPSC issued an order approving a $7 million overall increase in ENEC rates, including an approval for recovery of the Companies’ cumulative $55 million ENEC under-recovery balance and a $48 million reduction in projected costs for the period September 2021 through August 2022. Subsequently, the Companies submitted a request for reconsideration of this order, identifying flaws in the WVPSC’s calculation of forecasted future year fuel expense and purchased power costs. In March 2022, the WVPSC issued an order granting the Companies’ request for reconsideration, in part, and approving $31 million in projected costs for the period September 2021 through August 2022. The order also reopened the 2021 ENEC case to require the Companies to explain the significant growth in the reported under-recovery of ENEC costs and to provide various other information including revised projected costs for the period March 2022 through August 2022. Also, in March 2022, the Companies filed testimony providing the information requested in the WVPSC’s order and requested a $155 million annual increase in ENEC rates effective May 1, 2022. In May 2022, the WVPSC issued an order approving a $93 million overall increase to ENEC rates to recover projected annual ENEC costs. However, the WVPSC stated that actual and projected ENEC costs are still subject to a prudency review. In April 2022, the Companies submitted their 2022 annual ENEC filing with the WVPSC requesting a $297 million annual increase in ENEC revenues, inclusive of the previously requested $155 million increase, effective September 1, 2022. In September 2022, following an agreed upon delay in the proceedings of the Companies’ 2022 ENEC case, certain intervenors submitted testimony recommending disallowances of at least $83 million to the Companies’ historical period ENEC under-recovery balance along with proposals to either securitize the Companies’ remaining ENEC balance or defer recovery of this balance beyond the traditional one-year period. West Virginia staff recommended a $13 million increase in ENEC rates pending the outcome of the ENEC prudency review. In February 2023, the WVPSC issued an order stating that the commission will not grant additional rate increases for fuel costs until the WVPSC staff completes its prudency review. In April 2023, the Companies submitted their 2023 annual ENEC filing with the WVPSC, proposing two alternatives to increase ENEC rates effective September 1, 2023. The first alternative is a $293 million annual increase in ENEC rates comprised of an $89 million increase for current year ENEC expense and a $200 million annual increase for the recovery of the Companies’ February 28, 2023 ENEC under-recovery balances over three years, including debt and equity carrying costs. The second alternative is an $89 million annual increase in ENEC rates with the Companies securitizing approximately $1.9 billion of assets, including: (a) $553 million relating to ENEC under-recoveries as of February 28, 2023, (b) $88 million relating to major storm expense deferrals and (c) $1.2 billion relating to APCo’s West Virginia jurisdictional book values of the Amos and Mountaineer Plants and forecasted CCR and ELG investments at these generating facilities. The Companies continue to reflect ENEC under-recovery balances as current on their balance sheets since management cannot assert whether the WVPSC will approve recovery of ENEC under-recovery balances over a time frame different from the traditional one-year period. Additionally, in April 2023, the Staff submitted the prudency review prepared by an independent consultant retained by the WVPSC staff of the Companies’ operation of the Amos, Mountaineer and Mitchell coal plants that Staff was directed to conduct by the WVPSC in May 2022 (Consultant’s Report). The Consultant’s Report states the opinion of the consultant that the Companies acted imprudently by not taking steps to achieve a 69% capacity factor at their coal-fired plants and recommends applying a disallowance factor of 52.9% to the Companies’ cumulative, September 30, 2022 ENEC under-recovery balance of approximately $430 million. The Consultant’s Report further states the consultant’s opinion that this disallowance factor could also be utilized in future ENEC filings. Adoption of the Consultant’s Report’s findings by the WVPSC could result in a disallowance of up to $285 million. The Companies disagree with the conclusions and recommendations contained in the Consultant’s Report and intend to dispute them in the appropriate proceedings before the WVPSC. In May 2023, the WVPSC established a procedural schedule for the 2021, 2022 and 2023 ENEC cases to begin in the third quarter of 2023, including APCo’s response to the independent consultant’s prudency review. If any deferred ENEC costs are not recoverable, it could reduce future net income and cash flows and impact financial condition. ETT Rate Matters (Applies to AEP) ETT Interim Transmission Rates AEP has a 50% equity ownership interest in ETT. Predominantly all of ETT’s revenues are based on interim rate changes that can be filed twice annually and are subject to review and possible true-up in the next base rate proceeding. Through June 30, 2023, AEP’s share of ETT’s cumulative revenues that are subject to review is approximately $1.6 billion. A base rate review could produce a refund if ETT incurs a disallowance of the transmission investment on which an interim increase was based. A revenue decrease, including a refund of interim transmission rates, could reduce future net income and cash flows and impact financial condition. Management is unable to determine a range of potential losses, if any, that are reasonably possible of occurring. ETT is required to file for a comprehensive rate review no later than February 1, 2025, during which the $1.6 billion of cumulative revenues above will be subject to review. I&M Rate Matters (Applies to AEP and I&M) Michigan Power Supply Cost Recovery (PSCR) In April 2023, I&M received intervenor testimony in I&M’s 2021 PSCR Reconciliation for the 12-month period ending December 31, 2021 recommending disallowances of purchased power costs of $18 million associated with the OVEC Inter-Company Power Agreement (ICPA) and the AEGCo Unit Power Agreement (UPA) that were alleged to be above market in applying the MPSC’s Code of Conduct rules. Michigan staff submitted testimony in I&M’s 2021 PSCR Reconciliation with no recommended disallowances for PSCR costs incurred, including those associated with the OVEC ICPA and the AEGCo UPA. Michigan staff also recommended several options to address I&M’s shortfall in achieving Michigan’s annual one percent energy waste reduction savings level, resulting in potential future disallowed costs of up to approximately $14 million. In June 2023, Michigan staff submitted rebuttal testimony to update their calculation of the 2021 market proxy price resulting in a recommended disallowance of approximately $1 million related to the OVEC ICPA. An MPSC order on I&M’s 2021 PSCR Reconciliation is expected in the fourth quarter of 2023. If any PSCR costs are not recoverable, it could reduce future net income and cash flows and impact financial condition. KPCo Rate Matters (Applies to AEP) Fuel Adjustment Clause (FAC) Purchased Power Limitation In May 2023, KPCo filed an application seeking authority to defer, for future recovery, approximately $12 million of December 2022 purchased power costs not recoverable through its FAC. This requested deferral accounting authority would have enabled KPCo to pursue securitization of these costs. In June 2023, the KPSC denied KPCo’s request for deferral accounting authority. Also in June 2023, following its order denying KPCo’s request for deferral accounting authority, the KPSC issued an order directing KPCo to show cause why it should not be subject to Kentucky statutory remedies, including fines and penalties, for failure to provide adequate service in its service territory. The KPSC’s show cause order did not make any determination regarding the adequacy of KPCo’s service. In July 2023, KPCo filed a response to the show cause order demonstrating that it has provided adequate service. KPCo is requesting a prudency determination and recovery mechanism for these costs in its 2023 base rate. Unless and until KPCo is granted a recovery mechanism for these purchased power costs from the KPSC it will impact cash flows and financial condition. Additionally, if any fines or penalties are levied against KPCo relating to the show cause order, it will reduce net income and cash flows and impact financial condition. 2023 Kentucky Base Rate and Securitization Case In June 2023, KPCo filed a request with the KPSC for a $94 million net annual increase in base rates based upon a proposed 9.9% ROE with the increase to be implemented no earlier than January 2024. The filing proposes no changes in depreciation rates and an annual level of storm restoration expense in base rates of approximately $1 million. KPCo also proposed to discontinue tracking of PJM transmission costs through a rider, and to instead collect an annual level of costs through base rates. In addition, KPCo has proposed a rider to recover certain distribution reliability investments and related incremental operation and maintenance expenses. KPCo also requested a prudency determination and recovery mechanism for approximately $16 million of purchased power costs not recoverable through its FAC since its last base case. In conjunction with its June 2023 filing, KPCo further requested to finance, through the issuance of securitization bonds, approximately $471 million of regulatory assets recorded as of June 2023 including: (a) $289 million of plant retirement costs, (b) $79 million of deferred storm costs related to 2020, 2021, 2022 and 2023 major storms, (c) $52 million of deferred purchased power expenses and (d) $51 million of under-recovered purchased power rider costs. Plant retirement costs and deferred purchased power expenses have been deemed prudent in prior KPSC decisions. KPCo has requested a prudency determination for the deferred storm costs and under-recovered purchase power rider costs since the last base case in this proceeding. Consistent with Kentucky statutory requirements, the present value of the return on accumulated deferred income tax benefits related to plant retirement costs and deferred purchase power expenses were proposed to reduce the amount authorized to be financed through securitization. Intervenor testimony is due in the third quarter of 2023 and an order from the KPSC is expected in January 2024. If any of these costs are not recoverable, it could reduce future net income and cash flows and impact financial condition. OPCo Rate Matters (Applies to AEP and OPCo) OVEC Cost Recovery Audits In December 2021, as part of OVEC cost recovery audits pending before the PUCO, intervenors filed positions claiming that costs incurred by OPCo during the 2018-2019 audit period were imprudent and should be disallowed. In May 2022, intervenors filed for rehearing on the 2016-2017 OVEC cost recovery audit period claiming the PUCO’s April 2022 order to adopt the findings of the audit report were unjust, unlawful and unreasonable for multiple reasons, including the position that OPCo recovered imprudently incurred costs. In June 2022, the PUCO granted rehearing on the 2016-2017 audit period for purposes of further consideration. Management disagrees with these claims and is unable to predict the impact of these disputes, however, if any costs are disallowed or refunds are ordered it could reduce future net income and cash flows and impact financial condition. See "OVEC" section of Note 17 in the 2022 Annual Report for additional information on AEP and OPCo’s investment in OVEC. Ohio ESP Filings In January 2023, OPCo filed an application with the PUCO to approve an ESP that included proposed rate adjustments, proposed new riders and the continuation and modification of certain existing riders, including the Distribution Investment Rider, effective June 2024 through May 2030. The proposal includes a return on common equity of 10.65% on capital costs for certain riders. In June 2023, intervenors filed testimony opposing OPCo’s plan for various new riders and modifications to existing riders, including the DIR. Staff testimony and a hearing is expected in the third quarter of 2023. If OPCo is ultimately not permitted to fully collect its ESP rates it could reduce future net income and cash flows and impact financial condition. PSO Rate Matters (Applies to AEP and PSO) 2022 Oklahoma Base Rate Case In November 2022, PSO filed a request with the OCC for a $173 million annual increase in rates based upon a 10.4% ROE with a capital structure of 45.4% debt and 54.6% common equity, net of existing rider revenues and certain incremental renewable facility benefits expected to be provided to customers through riders. The requested annual revenue increase includes a $47 million annual depreciation expense increase related to the accelerated depreciation recovery of the Northeastern Plant, Unit 3 through 2026, and a $16 million annual amortization expense increase to recover intangible plant over a 5-year useful life instead of a 10-year useful life. PSO’s request also includes recovery of the 154 MW Rock Falls Wind Facility through base rates to aid PSO’s near-term capacity needs and support compliance with SPP’s 2023 increased capacity planning reserve margin requirements. In N |
Commitments, Guarantees and Con
Commitments, Guarantees and Contingencies | 6 Months Ended |
Jun. 30, 2023 | |
Commitments, Guarantees and Contingencies | COMMITMENTS, GUARANTEES AND CONTINGENCIES The disclosures in this note apply to all Registrants unless indicated otherwise. The Registrants are subject to certain claims and legal actions arising in the ordinary course of business. In addition, the Registrants’ business activities are subject to extensive governmental regulation related to public health and the environment. The ultimate outcome of such pending or potential litigation against the Registrants cannot be predicted. Management accrues contingent liabilities only when management concludes that it is both probable that a liability has been incurred at the date of the financial statements and the amount of loss can be reasonably estimated. When management determines that it is not probable, but rather reasonably possible that a liability has been incurred at the date of the financial statements, management discloses such contingencies and the possible loss or range of loss if such estimate can be made. Any estimated range is based on currently available information and involves elements of judgment and significant uncertainties. Any estimated range of possible loss may not represent the maximum possible loss exposure. Circumstances change over time and actual results may vary significantly from estimates. For current proceedings not specifically discussed below, management does not anticipate that the liabilities, if any, arising from such proceedings would have a material effect on the financial statements. The Commitments, Guarantees and Contingencies note within the 2022 Annual Report should be read in conjunction with this report. GUARANTEES Liabilities for guarantees are recorded in accordance with the accounting guidance for “Guarantees.” There is no collateral held in relation to any guarantees. In the event any guarantee is drawn, there is no recourse to third-parties unless specified below. Letters of Credit (Applies to AEP and AEP Texas) Standby letters of credit are entered into with third-parties. These letters of credit are issued in the ordinary course of business and cover items such as natural gas and electricity risk management contracts, construction contracts, insurance programs, security deposits and debt service reserves. AEP has $4 billion and $1 billion revolving credit facilities due in March 2027 and 2025, respectively, under which up to $1.2 billion may be issued as letters of credit on behalf of subsidiaries. As of June 30, 2023, no letters of credit were issued under the revolving credit facility. An uncommitted facility gives the issuer of the facility the right to accept or decline each request made under the facility. AEP issues letters of credit on behalf of subsidiaries under six uncommitted facilities totaling $450 million. The Registrants’ maximum future payments for letters of credit issued under the uncommitted facilities as of June 30, 2023 were as follows: Company Amount Maturity (in millions) AEP $ 288.8 July 2023 to June 2024 AEP Texas 1.8 July 2023 Guarantees of Equity Method Investees (Applies to AEP) Parent has issued guarantees over the performance of certain non-consolidated joint ventures included within the competitive contracted renewables portfolio and NM Renewable Development, LLC. If a joint venture were to default on payments or performance, Parent would be required to make payments on behalf of the joint venture. As of June 30, 2023, the maximum potential amount of future payments associated with the remaining guarantees was $78 million, with the last guarantee expiring in December 2045. The non-contingent liability recorded associated with these guarantees was $5 million, with an additional $1 million expected credit loss liability for the contingent portion of the guarantees. In accordance with the accounting guidance for guarantees, the initial recognition of the non-contingent liabilities increased AEP’s carrying values of the respective equity method investees. Management considered historical losses, economic conditions and reasonable and supportable forecasts in the calculation of the expected credit loss. As the joint ventures generate cash flows through PPAs, the measurement of the contingent portion of the guarantee liability is based upon assessments of the credit quality and default probabilities of the respective PPA counterparties. Indemnifications and Other Guarantees Contracts The Registrants enter into certain types of contracts which require indemnifications. Typically these contracts include, but are not limited to, sale agreements, lease agreements, purchase agreements and financing agreements. Generally, these agreements may include, but are not limited to, indemnifications around certain tax, contractual and environmental matters. With respect to sale agreements, exposure generally does not exceed the sale price. As of June 30, 2023, there were no material liabilities recorded for any indemnifications. AEPSC conducts power purchase-and-sale activity on behalf of APCo, I&M, KPCo and WPCo, who are jointly and severally liable for activity conducted on their behalf. AEPSC also conducts power purchase-and-sale activity on behalf of PSO and SWEPCo, who are jointly and severally liable for activity conducted on their behalf. Master Lease Agreements (Applies to all Registrants except AEPTCo) The Registrants lease certain equipment under master lease agreements. Under the lease agreements, the lessor is guaranteed a residual value up to a stated percentage of the equipment cost at the end of the lease term. If the actual fair value of the leased equipment is below the guaranteed residual value at the end of the lease term, the Registrants are committed to pay the difference between the actual fair value and the residual value guarantee. Historically, at the end of the lease term the fair value has been in excess of the amount guaranteed. As of June 30, 2023, the maximum potential loss by the Registrants for these lease agreements assuming the fair value of the equipment is zero at the end of the lease term was as follows: Company Maximum (in millions) AEP $ 45.0 AEP Texas 10.9 APCo 5.6 I&M 4.2 OPCo 7.0 PSO 4.7 SWEPCo 5.4 ENVIRONMENTAL CONTINGENCIES (Applies to all Registrants except AEPTCo) The Comprehensive Environmental Response Compensation and Liability Act (Superfund) and State Remediation By-products from the generation of electricity include materials such as ash, slag, sludge, low-level radioactive waste and SNF. Coal combustion by-products, which constitute the overwhelming percentage of these materials, are typically treated and deposited in captive disposal facilities or are beneficially utilized. In addition, the generation plants and transmission and distribution facilities have used asbestos, polychlorinated biphenyls and other hazardous and non-hazardous materials. The Registrants currently incur costs to dispose of these substances safely. For remediation processes not specifically discussed, management does not anticipate that the liabilities, if any, arising from such remediation processes would have a material effect on the financial statements. NUCLEAR CONTINGENCIES (Applies to AEP and I&M) I&M owns and operates the Cook Plant under licenses granted by the Nuclear Regulatory Commission. I&M has a significant future financial commitment to dispose of SNF and to safely decommission and decontaminate the plant. The licenses to operate the two nuclear units at the Cook Plant expire in 2034 and 2037. The operation of a nuclear facility also involves special risks, potential liabilities and specific regulatory and safety requirements. By agreement, I&M is partially liable, together with all other electric utility companies that own nuclear generation units, for a nuclear power plant incident at any nuclear plant in the U.S. Should a nuclear incident occur at any nuclear power plant in the U.S., the resultant liability could be substantial. OPERATIONAL CONTINGENCIES Litigation Related to Ohio House Bill 6 (HB 6) In 2019, Ohio adopted and implemented HB 6 which benefits OPCo by authorizing rate recovery for certain costs including renewable energy contracts and OVEC’s coal-fired generating units. OPCo engaged in lobbying efforts and provided testimony during the legislative process in connection with HB 6. In July 2020, an investigation led by the U.S. Attorney’s Office resulted in a federal grand jury indictment of an Ohio legislator and associates in connection with an alleged racketeering conspiracy involving the adoption of HB 6. After AEP learned of the criminal allegations against the Ohio legislator and others relating to HB 6, AEP, with assistance from outside advisors, conducted a review of the circumstances surrounding the passage of the bill. Management does not believe that AEP was involved in any wrongful conduct in connection with the passage of HB 6. In August 2020, an AEP shareholder filed a putative class action lawsuit in the U. S. District Court for the Southern District of Ohio against AEP and certain of its officers for alleged violations of securities laws. In December 2021, the district court issued an opinion and order dismissing the securities litigation complaint with prejudice, determining that the complaint failed to plead any actionable misrepresentations or omissions. The plaintiffs did not appeal the ruling. In January 2021, an AEP shareholder filed a derivative action in the U.S. District Court for the Southern District of Ohio purporting to assert claims on behalf of AEP against certain AEP officers and directors. In February 2021, a second AEP shareholder filed a similar derivative action in the Court of Common Pleas of Franklin County, Ohio. In April 2021, a third AEP shareholder filed a similar derivative action in the U.S. District Court for the Southern District of Ohio and a fourth AEP shareholder filed a similar derivative action in the Supreme Court for the State of New York, Nassau County. These derivative complaints allege the officers and directors made misrepresentations and omissions similar to those alleged in the putative securities class action lawsuit filed against AEP. The derivative complaints together assert claims for: (a) breach of fiduciary duty, (b) waste of corporate assets, (c) unjust enrichment, (d) breach of duty for insider trading and (e) contribution for violations of sections 10(b) and 21D of the Securities Exchange Act of 1934; and seek monetary damages and changes to AEP’s corporate governance and internal policies among other forms of relief. The court entered a scheduling order in the New York state court derivative action staying the case other than with respect to briefing the motion to dismiss. AEP filed substantive and forum-based motions to dismiss on April 29, 2022. On September 13, 2022, the New York state court granted the forum-based motion to dismiss with prejudice and the plaintiff subsequently filed a notice of appeal with the New York appellate court. On January 20, 2023, the New York plaintiff filed a motion to intervene in the pending Ohio federal court action and withdrew his appeal in New York. The two derivative actions pending in federal district court in Ohio have been consolidated and the plaintiffs in the consolidated action filed an amended complaint. AEP filed a motion to dismiss the amended complaint and subsequently filed a brief in opposition to the New York plaintiffs’ motion to intervene in the consolidated action in Ohio. On March 20, 2023, the federal district court issued an order granting the motion to dismiss with prejudice and denying the New York plaintiffs’ motion to intervene. On April 20, 2023, one of the plaintiffs filed a notice of appeal to the U.S. Court of Appeals for the Sixth Circuit of the Ohio federal district court order dismissing the consolidated action and denying the intervention. On June 15, 2022, the Ohio state court entered an order continuing the stays of that case until the final resolution of the consolidated derivative actions pending in Ohio federal district court. The defendants will continue to defend against the claims. Management is unable to determine a range of potential losses that is reasonably possible of occurring. In March 2021, AEP received a litigation demand letter from counsel representing a purported AEP shareholder. The litigation demand letter was directed to the Board of Directors of AEP (AEP Board) and contained factual allegations involving HB 6 that were generally consistent with those in the derivative litigation filed in state and federal court. The shareholder that sent the letter has since withdrawn the litigation demand, which is now terminated and of no further effect. In April 2023, AEP received a litigation demand from counsel representing the purported AEP shareholder who filed the dismissed derivative action in New York state court and unsuccessfully tried to intervene in the consolidated derivative actions in Ohio federal court. The litigation demand letter is directed to the AEP Board and contains factual allegations involving HB 6 that are generally consistent with those in the derivative litigation filed in state and federal court. The letter demands, among other things, that the AEP Board undertake an independent investigation into alleged legal violations by certain current and former directors and officers, and that AEP commence a civil action for breaches of fiduciary duty and related claims against any individuals who allegedly harmed AEP. The AEP Board will act in response to the letter as appropriate. Management is unable to determine a range of potential losses that is reasonably possible of occurring. In May 2021, AEP received a subpoena from the SEC’s Division of Enforcement seeking various documents, including documents relating to the passage of HB 6 and documents relating to AEP’s policies and financial processes and controls. In August 2022, AEP received a second subpoena from the SEC seeking various additional documents relating to its ongoing investigation. AEP is cooperating fully with the SEC’s investigation, which has included taking testimony from certain individuals and inquiries regarding Empowering Ohio’s Economy, Inc., which is a 501(c)(4) social welfare organization, and related disclosures. Although the outcome of the SEC’s investigation cannot be predicted, management does not believe the results of this investigation will have a material impact on financial condition, results of operations or cash flows. Claims for Indemnification Made by Owners of the Gavin Power Station In November 2022, the Federal EPA issued a final decision denying Gavin Power LLC’s requested extension to allow a CCR surface impoundment at the Gavin Power Station to continue to receive CCR and non-CCR waste streams after April 11, 2021 until May 4, 2023 (the Gavin Denial). As part of the Gavin Denial, the Federal EPA made several determinations related to the CCR Rule (see “Environmental Issues - Coal Combustion Residual (CCR) Rule” section of Management’s Discussion and Analysis of Financial Condition and Results of Operations for additional information), including a determination that the closure of the 300 acre unlined fly ash reservoir (FAR) is noncompliant with the CCR Rule in multiple respects. The Gavin Power Station was formerly owned and operated by AEP and was sold to Gavin Power LLC and Lightstone Generation LLC in 2017. Pursuant to the PSA, AEP maintained responsibility to complete closure of the FAR in accordance with the closure plan approved by the Ohio EPA which was completed in July 2021. The PSA contains indemnification provisions, pursuant to which the owners of the Gavin Power Station have notified AEP they believe they are entitled to indemnification for any damages that may result from these claims, including any future enforcement or litigation resulting from the Federal EPA’s determinations of noncompliance with various aspects of the CCR Rule as part of the Gavin Denial. The owners of the Gavin Power Station have also sought indemnification for landowner claims for property damage allegedly caused by modifications to the FAR. Management does not believe that the owners of the Gavin Power Station have any valid claim for indemnity or otherwise against AEP under the PSA. In addition, Gavin Power LLC, several AEP subsidiaries, and other parties have filed Petitions for Review of the Gavin Denial with the U.S. Court of Appeals for the District of Columbia Circuit. Management is unable to determine a range of potential losses that is reasonably possible of occurring. Claims for Damages Related to Sabine Lignite Mining Agreement In May 2023, North American Coal Corporation (NACC) and Sabine, a subsidiary of NACC, filed suit against SWEPCo in Texas state court for breach of the Lignite Mining Agreement (LMA) between Sabine and SWEPCo. NACC and Sabine assert that the terms of the LMA require SWEPCo to continue operating the Pirkey Plant and obtaining coal from the Sabine mine through 2035 and that SWEPCo has breached the agreement by closing the plant. The complaint seeks both injunctive relief ordering SWEPCo to cease demolition and reclamation activities at the Pirkey Plant and the Sabine mine and damages, which Sabine has asserted are $85 million in lost fees. The parties have entered into a standstill agreement staying both the litigation and certain demolition and reclamation activities at the Pirkey Plant and the Sabine mine. SWEPCo will continue to defend against the claims. Management is unable to determine a range of potential losses that is reasonably possible of occurring. |
Acquisitions and Dispositions
Acquisitions and Dispositions | 6 Months Ended |
Jun. 30, 2023 | |
Acquisitions and Dispositions | ACQUISITIONS, ASSETS AND LIABILITIES HELD FOR SALE, DISPOSITIONS AND IMPAIRMENTS The disclosures in this note apply to AEP unless indicated otherwise. ACQUISITIONS North Central Wind Energy Facilities (Vertically Integrated Utilities Segment) (Applies to AEP, PSO and SWEPCo) In 2020, PSO and SWEPCo received regulatory approvals to acquire the NCWF, comprised of three Oklahoma wind facilities totaling 1,484 MWs, on a fixed cost turn-key basis. PSO and SWEPCo own undivided interests of 45.5% and 54.5% of the NCWF, respectively. In total, the three wind facilities cost approximately $2 billion and consist of Traverse (998 MW), Maverick (287 MW) and Sundance (199 MW). Output from the NCWF serves retail load in PSO’s Oklahoma service territory and both retail and FERC wholesale load in SWEPCo’s service territories in Arkansas and Louisiana. The Oklahoma and Louisiana portions of the NCWF revenue requirement, net of PTC benefit, are recoverable through authorized riders until the amounts are reflected in base rates. Recovery of the Arkansas portion of the NCWF revenue requirement through base rates was approved by the APSC in May 2022. The NCWF are subject to various regulatory performance requirements. If these performance requirements are not met, PSO and SWEPCo would recognize a regulatory liability to refund retail customers. In March 2022, PSO and SWEPCo acquired respective undivided ownership interests in the entity that owned Traverse during its development and construction for $1.2 billion, the third of the three NCWF acquisitions. Immediately following the acquisition, PSO and SWEPCo liquidated the entity and simultaneously distributed the Traverse assets in proportion to their undivided ownership interests. Traverse was placed in-service in March 2022. PSO and SWEPCo apply the joint plant accounting model to account for their respective undivided interests in the assets, liabilities, revenues and expenses of the NCWF projects. Rock Falls Wind Facility (Vertically Integrated Utilities Segment) (Applies to AEP and PSO) In November 2022, PSO entered into an agreement to acquire the Rock Falls Wind Facility. In February 2023, the FERC approved PSO’s acquisition of the Rock Falls Wind Facility under Section 203 of the Federal Power Act. In March 2023, PSO acquired an ownership interest in the entity that owned Rock Falls during its development and construction for $146 million. In accordance with the guidance for “Business Combinations,” management determined that the acquisition of the Rock Falls Wind Facility represents an asset acquisition. The current and noncurrent Obligations Under Operating Leases related to Rock Falls were not material as of June 30, 2023. See the “2022 Oklahoma Base Rate Case” section of Note 4 for additional information. ASSETS AND LIABILITIES HELD FOR SALE Termination of Planned Disposition of KPCo and KTCo (Vertically Integrated Utilities and AEP Transmission Holdco Segments) (Applies to AEP and AEPTCo) In October 2021, AEP entered into a Stock Purchase Agreement (SPA) to sell KPCo and KTCo to Liberty Utilities Co., a subsidiary of Algonquin Power & Utilities Corp. (Liberty), for approximately a $2.85 billion enterprise value. The SPA was subsequently amended in September 2022 to reduce the purchase price to approximately $2.646 billion. The sale required approval from the KPSC and from the FERC under Section 203 of the Federal Power Act. The SPA contained certain termination rights if the closing of the sale did not occur by April 26, 2023. In May 2022, the KPSC approved the sale of KPCo to Liberty subject to certain conditions contingent upon the closing of the sale. In December 2022, the FERC issued an order denying, without prejudice, authorization of the proposed sale stating the applicants failed to demonstrate the proposed transaction will not have an adverse effect on rates. In February 2023, a new filing for approval under Section 203 of the Federal Power Act was submitted. In March 2023, the KPSC and other intervenors made filings recommending the FERC reject AEP and Liberty’s new Section 203 application seeking approval of the sale. In April 2023, AEP, AEPTCo and Liberty entered into a Mutual Termination Agreement (Termination Agreement) terminating the SPA. The parties entered into the Termination Agreement as all of the conditions precedent to closing the sale could not be satisfied prior to April 26, 2023. The impact of the Termination Agreement did not have a material impact on AEP’s statements of income for the three and six months ended June 30, 2023. Upon reverting to a held and used model in the first quarter of 2023, AEP was required to present its investment in the Kentucky Operations at the lower of fair value or historical carrying value which resulted in a $335 million reduction recorded in Property, Plant and Equipment. The reduced investment in KPCo’s assets is being amortized over the 30 year average useful life of the KPCo assets. Planned Disposition of the Competitive Contracted Renewables Portfolio (Generation & Marketing Segment) (Applies to AEP) In February 2022, AEP management announced the initiation of a process to sell all or a portion of AEP Renewables’ competitive contracted renewables portfolio within the Generation & Marketing segment. As of June 30, 2023, the competitive contracted renewable portfolio assets totaled 1.4 gigawatts of generation resources representing consolidated solar and wind assets, with a net book value of $1.2 billion, and a 50% interest in four joint venture wind farms, totaling $246 million, accounted for as equity method investments. In late January 2023, AEP received final bids from interested parties. In February 2023, AEP’s Board of Directors approved management’s plan to sell the competitive contracted renewables portfolio and AEP signed an agreement to sell the competitive contracted renewables portfolio to a nonaffiliated party for $1.5 billion including the assumption of project debt. AEP expects to close on the sale in the third quarter of 2023, pending approval from the Committee on Foreign Investment in the United States. AEP expects to receive cash proceeds, net of taxes, transaction fees and other customary closing adjustments, of approximately $1.2 billion. Management concluded the consolidated assets within the competitive contracted renewables portfolio met the accounting requirements to be presented as Held for Sale in the first quarter of 2023 based on the receipt of final bids, Board of Director approval to consummate a sale transaction and the signing of the sale agreement. AEP recorded a pretax loss of $112 million ($88 million after-tax) in the first quarter of 2023 as a result of reaching Held for Sale status. Management concluded the impact of any other than temporary decline in the fair value of the four joint venture wind farms was not material. Any changes to the book value or carrying value of these assets, or the anticipated sale price, could further reduce future net income and impact financial condition. The Income Before Income Tax Expense (Benefit) of the competitive contracted renewables portfolio was not material to AEP for the three and six months ended June 30, 2023 and 2022. In March 2023, AEP ceased recognition of depreciation on the competitive contracted renewable portfolio assets due to their classification as Held for Sale on the balance sheets. The major classes of the assets and liabilities presented in Assets Held for Sale and Liabilities Held for Sale on the balance sheets of AEP are shown in the following table: June 30, 2023 (in millions) ASSETS Accounts Receivable and Accrued Unbilled Revenues $ 10.0 Property, Plant and Equipment, Net 1,394.0 Other Classes of Assets that are not Major 67.3 Total Major Classes of Assets Held for Sale 1,471.3 Loss on the Expected Sale of the Competitive Contracted Renewables Portfolio (net of $23.5 million of Income Taxes) (88.5) Assets Held for Sale $ 1,382.8 LIABILITIES Accounts Payable $ 4.6 Asset Retirement Obligations 31.0 Obligations Under Operating Leases 21.6 Other Classes of Liabilities that are not Major 7.6 Liabilities Held for Sale $ 64.8 The four joint venture wind farms totaling $246 million as of June 30, 2023, which are included in the plan of sale, continue to be classified as Deferred Charges and Other Noncurrent Assets and $183 million attributable to noncontrolling interests continues to be classified as Noncontrolling Interests on AEP’s consolidated balance sheets. DISPOSITIONS Disposition of Mineral Rights (Generation & Marketing Segment) (Applies to AEP) In June 2022, AEP closed on the sale of certain mineral rights to a nonaffiliated third-party and received $120 million of proceeds. The sale resulted in a pretax gain of $116 million in the second quarter of 2022. IMPAIRMENTS Flat Ridge 2 Wind LLC (Generation & Marketing Segment) (Applies to AEP) In June 2022, as a result of Flat Ridge 2’s deteriorating financial performance, sale negotiations and AEP’s ongoing evaluation and ultimate decision to exit the investment in the near term, AEP determined a decline in the fair value of AEP’s investment in Flat Ridge 2 was other than temporary. In accordance with the accounting guidance for “Investments - Equity Method and Joint Ventures”, in the second quarter of 2022 AEP recorded a pretax other than temporary impairment charge of $186 million which is presented in Equity Earnings (Losses) of Unconsolidated Subsidiaries on AEP’s Statement of Income. AEP’s determination of fair value utilized the accounting guidance for Fair Value Measurement market approach to valuation and was based on negotiations to sell the investment to a non-affiliate. In September 2022, AEP signed a Purchase and Sale Agreement with a nonaffiliate for AEP’s interest in Flat Ridge 2. The transaction closed in the fourth quarter of 2022 and had an immaterial impact on the financial statements at closing. |
Benefit Plans
Benefit Plans | 6 Months Ended |
Jun. 30, 2023 | |
Benefit Plans | BENEFIT PLANS The disclosures in this note apply to all Registrants except AEPTCo. AEP sponsors a qualified pension plan and two unfunded nonqualified pension plans. Substantially all AEP employees are covered by the qualified plan or both the qualified and a nonqualified pension plan. AEP also sponsors OPEB plans to provide health and life insurance benefits for retired employees. Components of Net Periodic Benefit Cost (Credit) Pension Plans Three Months Ended June 30, 2023 AEP AEP Texas APCo I&M OPCo PSO SWEPCo (in millions) Service Cost $ 23.6 $ 2.1 $ 2.2 $ 3.0 $ 2.1 $ 1.4 $ 1.9 Interest Cost 54.8 4.6 6.6 6.2 5.0 2.7 3.5 Expected Return on Plan Assets (84.8) (7.0) (11.1) (11.1) (8.5) (4.6) (4.9) Amortization of Net Actuarial Loss 0.4 — — — — — — Net Periodic Benefit Cost (Credit) $ (6.0) $ (0.3) $ (2.3) $ (1.9) $ (1.4) $ (0.5) $ 0.5 Three Months Ended June 30, 2022 AEP AEP Texas APCo I&M OPCo PSO SWEPCo (in millions) Service Cost $ 30.8 $ 2.8 $ 2.8 $ 4.1 $ 2.9 $ 1.8 $ 2.7 Interest Cost 37.1 3.0 4.4 4.2 3.2 1.7 2.3 Expected Return on Plan Assets (63.3) (5.2) (8.1) (8.1) (6.2) (3.4) (3.6) Amortization of Net Actuarial Loss 15.7 1.3 1.8 1.7 1.4 0.8 0.9 Net Periodic Benefit Cost $ 20.3 $ 1.9 $ 0.9 $ 1.9 $ 1.3 $ 0.9 $ 2.3 Six Months Ended June 30, 2023 AEP AEP Texas APCo I&M OPCo PSO SWEPCo (in millions) Service Cost $ 47.2 $ 4.1 $ 4.5 $ 6.0 $ 4.2 $ 2.8 $ 3.8 Interest Cost 109.6 9.2 13.2 12.4 9.9 5.4 7.0 Expected Return on Plan Assets (169.6) (14.0) (22.3) (22.1) (17.0) (9.2) (9.7) Amortization of Net Actuarial Loss 0.7 — — — — — — Net Periodic Benefit Cost (Credit) $ (12.1) $ (0.7) $ (4.6) $ (3.7) $ (2.9) $ (1.0) $ 1.1 Six Months Ended June 30, 2022 AEP AEP Texas APCo I&M OPCo PSO SWEPCo (in millions) Service Cost $ 61.6 $ 5.6 $ 5.7 $ 8.1 $ 5.6 $ 3.7 $ 5.3 Interest Cost 74.1 6.0 8.8 8.4 6.6 3.5 4.6 Expected Return on Plan Assets (126.7) (10.5) (16.2) (16.1) (12.4) (6.8) (7.3) Amortization of Net Actuarial Loss 31.5 2.6 3.6 3.5 2.8 1.5 1.9 Net Periodic Benefit Cost $ 40.5 $ 3.7 $ 1.9 $ 3.9 $ 2.6 $ 1.9 $ 4.5 OPEB Three Months Ended June 30, 2023 AEP AEP Texas APCo I&M OPCo PSO SWEPCo (in millions) Service Cost $ 1.2 $ 0.1 $ 0.2 $ 0.2 $ 0.1 $ — $ 0.1 Interest Cost 11.5 0.9 1.9 1.4 1.1 0.6 0.7 Expected Return on Plan Assets (27.4) (2.2) (4.0) (3.4) (3.0) (1.4) (1.8) Amortization of Prior Service Credit (15.7) (1.4) (2.3) (2.1) (1.5) (1.0) (1.2) Amortization of Net Actuarial Loss 3.7 0.3 0.5 0.4 0.4 0.2 0.3 Net Periodic Benefit Credit $ (26.7) $ (2.3) $ (3.7) $ (3.5) $ (2.9) $ (1.6) $ (1.9) Three Months Ended June 30, 2022 AEP AEP Texas APCo I&M OPCo PSO SWEPCo (in millions) Service Cost $ 1.9 $ 0.1 $ 0.2 $ 0.3 $ 0.1 $ 0.1 $ 0.2 Interest Cost 7.3 0.5 1.1 0.9 0.8 0.3 0.4 Expected Return on Plan Assets (27.5) (2.2) (4.0) (3.5) (2.9) (1.5) (1.8) Amortization of Prior Service Credit (17.9) (1.5) (2.6) (2.5) (1.8) (1.1) (1.3) Net Periodic Benefit Credit $ (36.2) $ (3.1) $ (5.3) $ (4.8) $ (3.8) $ (2.2) $ (2.5) Six Months Ended June 30, 2023 AEP AEP Texas APCo I&M OPCo PSO SWEPCo (in millions) Service Cost $ 2.3 $ 0.2 $ 0.3 $ 0.4 $ 0.2 $ 0.1 $ 0.2 Interest Cost 23.1 1.8 3.7 2.7 2.3 1.2 1.4 Expected Return on Plan Assets (54.8) (4.5) (8.0) (6.8) (5.9) (2.9) (3.6) Amortization of Prior Service Credit (31.5) (2.7) (4.6) (4.3) (3.1) (2.0) (2.4) Amortization of Net Actuarial Loss 7.4 0.6 1.1 0.9 0.8 0.4 0.5 Net Periodic Benefit Credit $ (53.5) $ (4.6) $ (7.5) $ (7.1) $ (5.7) $ (3.2) $ (3.9) Six Months Ended June 30, 2022 AEP AEP Texas APCo I&M OPCo PSO SWEPCo (in millions) Service Cost $ 3.7 $ 0.2 $ 0.4 $ 0.5 $ 0.3 $ 0.2 $ 0.3 Interest Cost 14.6 1.1 2.3 1.7 1.5 0.7 0.9 Expected Return on Plan Assets (55.0) (4.5) (8.1) (6.9) (5.9) (3.0) (3.7) Amortization of Prior Service Credit (35.7) (3.0) (5.2) (4.9) (3.6) (2.2) (2.6) Net Periodic Benefit Credit $ (72.4) $ (6.2) $ (10.6) $ (9.6) $ (7.7) $ (4.3) $ (5.1) |
Business Segments
Business Segments | 6 Months Ended |
Jun. 30, 2023 | |
Business Segments | BUSINESS SEGMENTS The disclosures in this note apply to all Registrants unless indicated otherwise. AEP’s Reportable Segments AEP’s primary business is the generation, transmission and distribution of electricity. Within its Vertically Integrated Utilities segment, AEP centrally dispatches generation assets and manages its overall utility operations on an integrated basis because of the substantial impact of cost-based rates and regulatory oversight. Intersegment sales and transfers are generally based on underlying contractual arrangements and agreements. AEP’s reportable segments and their related business activities are outlined below: Vertically Integrated Utilities • Generation, transmission and distribution of electricity for sale to retail and wholesale customers through assets owned and operated by AEGCo, APCo, I&M, KGPCo, KPCo, PSO, SWEPCo and WPCo. Transmission and Distribution Utilities • Transmission and distribution of electricity for sale to retail and wholesale customers through assets owned and operated by AEP Texas and OPCo. • OPCo purchases energy and capacity to serve standard service offer customers and provides transmission and distribution services for all connected load. AEP Transmission Holdco • Development, construction and operation of transmission facilities through investments in AEPTCo. These investments have FERC-approved ROEs. • Development, construction and operation of transmission facilities through investments in AEP’s transmission-only joint ventures. These investments have PUCT-approved or FERC-approved ROEs. Generation & Marketing • Contracted renewable energy investments and management services. • Marketing, risk management and retail activities in ERCOT, MISO, PJM and SPP. • Competitive generation in PJM. The remainder of AEP’s activitie s are p resented as Corporate and Other. While not considered a reportable segment, Corporate and Other primarily includes the purchasing of receivables from certain AEP utility subsidiaries, Parent’s guarantee revenue received from affiliates, investment income, interest income and interest expense, and other nonallocated costs. The tables below represent AEP’s reportable segment income statement information for the three and six months ended June 30, 2023 and 2022 and reportable segment balance sheet information as of June 30, 2023 and December 31, 2022. Three Months Ended June 30, 2023 Vertically Integrated Utilities Transmission and Distribution Utilities AEP Transmission Holdco Generation Corporate and Other (a) Reconciling Adjustments Consolidated (in millions) Revenues from: External Customers $ 2,629.0 $ 1,330.8 $ 88.3 $ 318.2 $ 6.2 $ — $ 4,372.5 Other Operating Segments 45.5 9.4 370.3 13.2 25.8 (464.2) — Total Revenues $ 2,674.5 $ 1,340.2 $ 458.6 $ 331.4 $ 32.0 $ (464.2) $ 4,372.5 Net Income (Loss) $ 278.4 $ 176.7 $ 197.3 $ (38.6) $ (97.7) $ — $ 516.1 Three Months Ended June 30, 2022 Vertically Integrated Utilities Transmission and Distribution Utilities AEP Transmission Holdco Generation Corporate and Other (a) Reconciling Adjustments Consolidated (in millions) Revenues from: External Customers $ 2,595.0 $ 1,296.8 $ 79.1 $ 654.4 $ 14.4 $ — $ 4,639.7 Other Operating Segments 53.5 4.8 299.7 5.2 10.1 (373.3) — Total Revenues $ 2,648.5 $ 1,301.6 $ 378.8 $ 659.6 $ 24.5 $ (373.3) $ 4,639.7 Net Income (Loss) $ 303.3 $ 164.8 $ 142.7 $ 65.9 $ (155.9) $ — $ 520.8 Six Months Ended June 30, 2023 Vertically Integrated Utilities Transmission and Distribution Utilities AEP Transmission Holdco Generation Corporate and Other (a) Reconciling Adjustments Consolidated (in millions) Revenues from: External Customers $ 5,445.3 $ 2,786.1 $ 178.4 $ 645.1 $ 8.5 $ — $ 9,063.4 Other Operating Segments 87.0 18.3 735.7 13.3 53.6 (907.9) — Total Revenues $ 5,532.3 $ 2,804.4 $ 914.1 $ 658.4 $ 62.1 $ (907.9) $ 9,063.4 Net Income (Loss) $ 540.6 $ 302.4 $ 379.7 $ (195.0) $ (111.2) $ — $ 916.5 Six Months Ended June 30, 2022 Vertically Integrated Utilities Transmission and Distribution Utilities AEP Transmission Holdco Generation Corporate and Other (a) Reconciling Adjustments Consolidated (in millions) Revenues from: External Customers $ 5,241.8 $ 2,539.0 $ 162.5 $ 1,263.9 $ 25.1 $ — $ 9,232.3 Other Operating Segments 94.1 9.4 627.7 15.0 19.3 (765.5) — Total Revenues $ 5,335.9 $ 2,548.4 $ 790.2 $ 1,278.9 $ 44.4 $ (765.5) $ 9,232.3 Net Income (Loss) $ 602.5 $ 317.6 $ 316.4 $ 181.9 $ (179.5) $ — $ 1,238.9 June 30, 2023 Vertically Integrated Utilities Transmission and Distribution Utilities AEP Transmission Holdco Generation Corporate and Other (a) Reconciling Consolidated (in millions) Total Assets (d) $ 51,047.3 $ 23,900.0 $ 16,023.5 $ 4,457.9 $ 6,451.4 (b) $ (5,878.0) (c) $ 96,002.1 December 31, 2022 Vertically Integrated Utilities Transmission and Distribution Utilities AEP Transmission Holdco Generation Corporate and Other (a) Reconciling Consolidated (in millions) Total Assets $ 49,761.8 $ 22,920.2 $ 15,215.8 $ 4,520.1 $ 6,768.4 (b) $ (5,783.0) (c) $ 93,403.3 (a) Corporate and Other primarily includes the purchasing of receivables from certain AEP utility subsidiaries. This segment also includes Parent’s guarantee revenue received from affiliates, investment income, interest income, interest expense and other nonallocated costs. (b) Includes elimination of AEP Parent’s investments in wholly-owned subsidiary companies. (c) Reconciling Adjustments for Total Assets primarily include elimination of intercompany advances to affiliates and intercompany accounts receivable. (d) Amount includes Assets Held for Sale on the balance sheet. See “Planned Disposition of the Competitive Contracted Renewables Portfolio” section of Note 6 for additional information. Registrant Subsidiaries’ Reportable Segments (Applies to all Registrant Subsidiaries except AEPTCo) The Registrant Subsidiaries each have one reportable segment, an integrated electricity generation, transmission and distribution business for APCo, I&M, PSO and SWEPCo, and an integrated electricity transmission and distribution business for AEP Texas and OPCo. Other activities are insignificant. The Registrant Subsidiaries’ operations are managed on an integrated basis because of the substantial impact of cost-based rates and regulatory oversight on the business process, cost structures and operating results. AEPTCo’s Reportable Segments AEPTCo Parent is the holding company of seven FERC-regulated transmission-only electric utilities. The seven State Transcos have been identified as operating segments of AEPTCo under the accounting guidance for “Segment Reporting.” The State Transcos business consists of developing, constructing and operating transmission facilities at the request of the RTOs in which they operate and in replacing and upgrading facilities, assets and components of the existing AEP transmission system as needed to maintain reliability standards and provide service to AEP’s wholesale and retail customers. The State Transcos are regulated for rate-making purposes exclusively by the FERC and earn revenues through tariff rates charged for the use of their electric transmission systems. AEPTCo’s Chief Operating Decision Maker makes operating decisions, allocates resources to and assesses performance based on these operating segments. The State Transcos operating segments all have similar economic characteristics and meet all of the criteria under the accounting guidance for “Segment Reporting” to be aggregated into one operating segment. As a result, AEPTCo has one reportable segment. The remainder of AEPTCo’s activity is presented in AEPTCo Parent. While not considered a reportable segment, AEPTCo Parent represents the activity of the holding company which primarily relates to debt financing activity and general corporate activities. The tables below present AEPTCo’s reportable segment income statement information for the three and six months ended June 30, 2023 and 2022 and reportable segment balance sheet information as of June 30, 2023 and December 31, 2022. Three Months Ended June 30, 2023 State Transcos AEPTCo Parent Reconciling Adjustments AEPTCo (in millions) Revenues from: External Customers $ 87.4 $ — $ — $ 87.4 Sales to AEP Affiliates 357.5 — — 357.5 Total Revenues $ 444.9 $ — $ — $ 444.9 Net Income $ 174.2 $ 1.5 (a) $ — $ 175.7 Three Months Ended June 30, 2022 State Transcos AEPTCo Parent Reconciling Adjustments AEPTCo (in millions) Revenues from: External Customers $ 77.3 $ — $ — $ 77.3 Sales to AEP Affiliates 287.1 — — 287.1 Total Revenues $ 364.4 $ — $ — $ 364.4 Net Income $ 118.4 $ 0.1 (a) $ — $ 118.5 Six Months Ended June 30, 2023 State Transcos AEPTCo Parent Reconciling Adjustments AEPTCo Consolidated (in millions) Revenues from: External Customers $ 176.4 $ — $ — $ 176.4 Sales to AEP Affiliates 710.1 — — 710.1 Total Revenues $ 886.5 $ — $ — $ 886.5 Net Income $ 335.8 $ 2.6 (a) $ — $ 338.4 Six Months Ended June 30, 2022 State Transcos AEPTCo Parent Reconciling Adjustments AEPTCo Consolidated (in millions) Revenues from: External Customers $ 162.3 $ — $ — $ 162.3 Sales to AEP Affiliates 602.5 — — 602.5 Total Revenues $ 764.8 $ — $ — $ 764.8 Net Income $ 273.8 $ 0.1 (a) $ — $ 273.9 June 30, 2023 State Transcos AEPTCo Parent Reconciling Adjustments AEPTCo (in millions) Total Assets $ 14,626.3 $ 5,542.1 (b) $ (5,591.9) (c) $ 14,576.5 December 31, 2022 State Transcos AEPTCo Parent Reconciling Adjustments AEPTCo (in millions) Total Assets $ 13,875.6 $ 4,817.4 (b) $ (4,878.8) (c) $ 13,814.2 (a) Includes the elimination of AEPTCo Parent’s equity earnings in the State Transcos. (b) Primarily relates to Notes Receivable from the State Transcos. (c) Primarily relates to the elimination of Notes Receivable from the State Transcos. |
Derivatives and Hedging
Derivatives and Hedging | 6 Months Ended |
Jun. 30, 2023 | |
Derivatives and Hedging | DERIVATIVES AND HEDGING The disclosures in this note apply to all Registrants unless indicated otherwise. For the periods presented, AEPTCo did not have any derivative and hedging activity. OBJECTIVES FOR UTILIZATION OF DERIVATIVE INSTRUMENTS AEPSC is agent for and transacts on behalf of certain AEP subsidiaries, including the Registrant Subsidiaries. AEPEP is agent for and transacts on behalf of other AEP subsidiaries. The Registrants are exposed to certain market risks as major power producers and participants in the electricity, capacity, natural gas, coal and emission allowance markets. These risks include commodity price risks which may be subject to capacity risk, interest rate risk and credit risk. These risks represent the risk of loss that may impact the Registrants due to changes in the underlying market prices or rates. Management utilizes derivative instruments to manage these risks. STRATEGIES FOR UTILIZATION OF DERIVATIVE INSTRUMENTS TO ACHIEVE OBJECTIVES Risk Management Strategies The strategy surrounding the use of derivative instruments primarily focuses on managing risk exposures, future cash flows and creating value utilizing both economic and formal hedging strategies. The risk management strategies also include the use of derivative instruments for trading purposes which focus on seizing market opportunities to create value driven by expected changes in the market prices of the commodities. To accomplish these objectives, the Registrants primarily employ risk management contracts including physical and financial forward purchase-and-sale contracts and, to a lesser extent, OTC swaps and options. Not all risk management contracts meet the definition of a derivative under the accounting guidance for “Derivatives and Hedging.” Derivative risk management contracts elected normal under the normal purchases and normal sales scope exception are not subject to the requirements of this accounting guidance. The Registrants utilize power, capacity, coal, natural gas, interest rate and, to a lesser extent, heating oil, gasoline and other commodity contracts to manage the risk associated with the energy business. The Registrants utilize interest rate derivative contracts in order to manage the interest rate exposure associated with the commodity portfolio. For disclosure purposes, such risks are grouped as “Commodity,” as these risks are related to energy risk management activities. The Registrants also utilize derivative contracts to manage interest rate risk associated with debt financing. For disclosure purposes, these risks are grouped as “Interest Rate.” The amount of risk taken is determined by the Commercial Operations, Energy Supply and Finance groups in accordance with established risk management policies as approved by the Finance Committee of the Board of Directors. The following tables represent the gross notional volume of the Registrants’ outstanding derivative contracts: Notional Volume of Derivative Instruments June 30, 2023 Primary Risk Unit of AEP AEP Texas APCo I&M OPCo PSO SWEPCo (in millions) Commodity: Power MWhs 269.9 — 29.1 9.2 2.3 8.7 6.9 Natural Gas MMBtus 136.8 — 5.2 — — 28.3 7.3 Heating Oil and Gasoline Gallons 6.7 1.8 1.0 0.6 1.4 0.9 0.9 Interest Rate USD $ 91.4 $ — $ — $ — $ — $ — $ — Interest Rate on Long-term Debt USD $ 950.0 $ — $ — $ — $ — $ — $ — December 31, 2022 Primary Risk Unit of AEP AEP Texas APCo I&M OPCo PSO SWEPCo (in millions) Commodity: Power MWhs 226.8 — 17.9 4.2 2.5 2.9 2.2 Natural Gas MMBtus 77.1 — 1.9 — — 1.9 2.1 Heating Oil and Gasoline Gallons 6.9 1.9 1.0 0.7 1.4 0.9 1.0 Interest Rate USD $ 99.9 $ — $ — $ — $ — $ — $ — Interest Rate on Long-term Debt USD $ 1,650.0 $ — $ — $ — $ — $ 200.0 $ — Fair Value Hedging Strategies (Applies to AEP) Parent enters into interest rate derivative transactions as part of an overall strategy to manage the mix of fixed-rate and floating-rate debt. Certain interest rate derivative transactions effectively modify exposure to interest rate risk by converting a portion of fixed-rate debt to a floating-rate. Provided specific criteria are met, these interest rate derivatives may be designated as fair value hedges. Cash Flow Hedging Strategies The Registrants utilize cash flow hedges on certain derivative transactions for the purchase and sale of power (“Commodity”) in order to manage the variable price risk related to forecasted purchases and sales. Management monitors the potential impacts of commodity price changes and, where appropriate, enters into derivative transactions to protect profit margins for a portion of future electricity sales and purchases. The Registrants do not hedge all commodity price risk. The Registrants utilize a variety of interest rate derivative transactions in order to manage interest rate risk exposure. The Registrants also utilize interest rate derivative contracts to manage interest rate exposure related to future borrowings of fixed-rate debt. The Registrants do not hedge all interest rate exposure. ACCOUNTING FOR DERIVATIVE INSTRUMENTS AND THE IMPACT ON THE FINANCIAL STATEMENTS The accounting guidance for “Derivatives and Hedging” requires recognition of all qualifying derivative instruments as either assets or liabilities on the balance sheets at fair value. The fair values of derivative instruments accounted for using MTM accounting or hedge accounting are based on exchange prices and broker quotes. If a quoted market price is not available, the estimate of fair value is based on the best information available including valuation models that estimate future energy prices based on existing market and broker quotes and other assumptions. In order to determine the relevant fair values of the derivative instruments, the Registrants apply valuation adjustments for discounting, liquidity and credit quality. Credit risk is the risk that a counterparty will fail to perform on the contract or fail to pay amounts due. Liquidity risk represents the risk that imperfections in the market will cause the price to vary from estimated fair value based upon prevailing market supply and demand conditions. Since energy markets are imperfect and volatile, there are inherent risks related to the underlying assumptions in models used to fair value risk management contracts. Unforeseen events may cause reasonable price curves to differ from actual price curves throughout a contract’s term and at the time a contract settles. Consequently, there could be significant adverse or favorable effects on future net income and cash flows if market prices are not consistent with management’s estimates of current market consensus for forward prices in the current period. This is particularly true for longer term contracts. Cash flows may vary based on market conditions, margin requirements and the timing of settlement of risk management contracts. According to the accounting guidance for “Derivatives and Hedging,” the Registrants reflect the fair values of derivative instruments subject to netting agreements with the same counterparty net of related cash collateral. For certain risk management contracts, the Registrants are required to post or receive cash collateral based on third-party contractual agreements and risk profiles. AEP netted cash collateral received from third-parties against short-term and long-term risk management assets in the amounts of $73 million and $481 million as of June 30, 2023 and December 31, 2022, respectively. AEP netted cash collateral paid to third-parties against short-term and long-term risk management liabilities in the amounts of $35 million and $2 million as of June 30, 2023 and December 31, 2022, respectively. There was no cash collateral received from third-parties netted against short-term and long-term risk management assets for the Registrant Subsidiaries as of June 30, 2023 and December 31, 2022. The amount of cash collateral paid to third-parties netted against short-term and long-term risk management liabilities was immaterial for the Registrant Subsidiaries as of June 30, 2023 and December 31, 2022. The following tables represent the gross fair value of the Registrants’ derivative activity on the balance sheets. Unless shown as a separate line on the balance sheets due to materiality, Current Risk Management Assets are included in Prepayments and Other Current Assets, Long-term Risk Management Assets are included in Deferred Charges and Other Noncurrent Assets, Current Risk Management Liabilities are included in Other Current Liabilities and Long-term Risk Management Liabilities are included in Deferred Credits and Other Noncurrent Liabilities on the balance sheets. AEP June 30, 2023 Risk Hedging Contracts Gross Amounts Gross Net Amounts of Balance Sheet Location Commodity (a) Commodity (a) Interest Rate (a) (in millions) Current Risk Management Assets $ 721.6 $ 43.4 $ — $ 765.0 $ (485.5) $ 279.5 Long-term Risk Management Assets 466.4 95.1 — 561.5 (294.7) 266.8 Total Assets 1,188.0 138.5 — 1,326.5 (780.2) 546.3 Current Risk Management Liabilities 631.5 12.8 42.6 686.9 (510.7) 176.2 Long-term Risk Management Liabilities 418.5 6.7 82.1 507.3 (232.0) 275.3 Total Liabilities 1,050.0 19.5 124.7 1,194.2 (742.7) 451.5 Total MTM Derivative Contract Net Assets (Liabilities) $ 138.0 $ 119.0 $ (124.7) $ 132.3 $ (37.5) $ 94.8 December 31, 2022 Risk Hedging Contracts Gross Amounts Gross Net Amounts of Balance Sheet Location Commodity (a) Commodity (a) Interest Rate (a) (in millions) Current Risk Management Assets $ 965.4 $ 212.2 $ 1.8 $ 1,179.4 $ (830.6) $ 348.8 Long-term Risk Management Assets 565.6 148.9 14.3 728.8 (444.7) 284.1 Total Assets 1,531.0 361.1 16.1 1,908.2 (1,275.3) 632.9 Current Risk Management Liabilities 663.8 60.4 41.4 765.6 (620.4) 145.2 Long-term Risk Management Liabilities 412.0 17.4 91.1 520.5 (175.3) 345.2 Total Liabilities 1,075.8 77.8 132.5 1,286.1 (795.7) 490.4 Total MTM Derivative Contract Net Assets (Liabilities) $ 455.2 $ 283.3 $ (116.4) $ 622.1 $ (479.6) $ 142.5 AEP Texas June 30, 2023 Risk Management Gross Amounts Offset Net Amounts of Assets/Liabilities Contracts – in the Statement of Presented in the Statement of Balance Sheet Location Commodity (a) Financial Position (b) Financial Position (c) (in millions) Current Risk Management Assets $ — $ — $ — Long-term Risk Management Assets — — — Total Assets — — — Current Risk Management Liabilities 0.4 (0.4) — Long-term Risk Management Liabilities 0.1 (0.1) — Total Liabilities 0.5 (0.5) — Total MTM Derivative Contract Net Assets (Liabilities) $ (0.5) $ 0.5 $ — December 31, 2022 Risk Management Gross Amounts Offset Net Amounts of Assets/Liabilities Contracts – in the Statement of Presented in the Statement of Balance Sheet Location Commodity (a) Financial Position (b) Financial Position (c) (in millions) Current Risk Management Assets $ — $ — $ — Long-term Risk Management Assets — — — Total Assets — — — Current Risk Management Liabilities — — — Long-term Risk Management Liabilities — — — Total Liabilities — — — Total MTM Derivative Contract Net Assets $ — $ — $ — APCo June 30, 2023 Risk Management Gross Amounts Offset Net Amounts of Assets/Liabilities Contracts – in the Statement of Presented in the Statement of Balance Sheet Location Commodity (a) Financial Position (b) Financial Position (c) (in millions) Current Risk Management Assets $ 42.5 $ (3.3) $ 39.2 Long-term Risk Management Assets 0.6 (0.4) 0.2 Total Assets 43.1 (3.7) 39.4 Current Risk Management Liabilities 5.1 (4.0) 1.1 Long-term Risk Management Liabilities 0.4 (0.4) — Total Liabilities 5.5 (4.4) 1.1 Total MTM Derivative Contract Net Assets $ 37.6 $ 0.7 $ 38.3 December 31, 2022 Risk Management Gross Amounts Offset Net Amounts of Assets/Liabilities Contracts – in the Statement of Presented in the Statement of Balance Sheet Location Commodity (a) Financial Position (b) Financial Position (c) (in millions) Current Risk Management Assets $ 69.3 $ (0.2) $ 69.1 Long-term Risk Management Assets 0.7 (0.7) — Total Assets 70.0 (0.9) 69.1 Current Risk Management Liabilities 4.1 (0.5) 3.6 Long-term Risk Management Liabilities 0.7 (0.6) 0.1 Total Liabilities 4.8 (1.1) 3.7 Total MTM Derivative Contract Net Assets $ 65.2 $ 0.2 $ 65.4 I&M June 30, 2023 Risk Management Gross Amounts Offset Net Amounts of Assets/Liabilities Contracts – in the Statement of Presented in the Statement of Balance Sheet Location Commodity (a) Financial Position (b) Financial Position (c) (in millions) Current Risk Management Assets $ 22.3 $ (0.9) $ 21.4 Long-term Risk Management Assets 11.8 (2.7) 9.1 Total Assets 34.1 (3.6) 30.5 Current Risk Management Liabilities 2.8 (1.4) 1.4 Long-term Risk Management Liabilities 2.7 (2.7) — Total Liabilities 5.5 (4.1) 1.4 Total MTM Derivative Contract Net Assets $ 28.6 $ 0.5 $ 29.1 December 31, 2022 Risk Management Gross Amounts Offset Net Amounts of Assets/Liabilities Contracts – in the Statement of Presented in the Statement of Balance Sheet Location Commodity (a) Financial Position (b) Financial Position (c) (in millions) Current Risk Management Assets $ 16.0 $ (0.8) $ 15.2 Long-term Risk Management Assets 0.5 (0.3) 0.2 Total Assets 16.5 (1.1) 15.4 Current Risk Management Liabilities 0.9 (0.9) — Long-term Risk Management Liabilities 0.3 (0.3) — Total Liabilities 1.2 (1.2) — Total MTM Derivative Contract Net Assets $ 15.3 $ 0.1 $ 15.4 OPCo June 30, 2023 Risk Management Gross Amounts Offset Net Amounts of Assets/Liabilities Contracts – in the Statement of Presented in the Statement of Balance Sheet Location Commodity (a) Financial Position (b) Financial Position (c) (in millions) Current Risk Management Assets $ — $ — $ — Long-term Risk Management Assets — — — Total Assets — — — Current Risk Management Liabilities 6.6 (0.3) 6.3 Long-term Risk Management Liabilities 47.8 (0.1) 47.7 Total Liabilities 54.4 (0.4) 54.0 Total MTM Derivative Contract Net Assets (Liabilities) $ (54.4) $ 0.4 $ (54.0) December 31, 2022 Risk Management Gross Amounts Offset Net Amounts of Assets/Liabilities Contracts – in the Statement of Presented in the Statement of Balance Sheet Location Commodity (a) Financial Position (b) Financial Position (c) (in millions) Current Risk Management Assets $ — $ — $ — Long-term Risk Management Assets — — — Total Assets — — — Current Risk Management Liabilities 2.1 (0.3) 1.8 Long-term Risk Management Liabilities 37.9 — 37.9 Total Liabilities 40.0 (0.3) 39.7 Total MTM Derivative Contract Net Assets (Liabilities) $ (40.0) $ 0.3 $ (39.7) PSO June 30, 2023 Risk Management Gross Amounts Offset Net Amounts of Assets/Liabilities Contracts – in the Statement of Presented in the Statement of Balance Sheet Location Commodity (a) Financial Position (b) Financial Position (c) (in millions) Current Risk Management Assets $ 47.4 $ (2.6) $ 44.8 Long-term Risk Management Assets 0.2 (0.2) — Total Assets 47.6 (2.8) 44.8 Current Risk Management Liabilities 5.4 (2.8) 2.6 Long-term Risk Management Liabilities 1.0 (0.2) 0.8 Total Liabilities 6.4 (3.0) 3.4 Total MTM Derivative Contract Net Assets $ 41.2 $ 0.2 $ 41.4 December 31, 2022 Risk Management Contracts – Hedging Contracts Gross Amounts of Risk Management Assets/Liabilities Recognized Gross Amounts Offset in the Statement of Financial Position (b) Net Amounts of Assets/Liabilities Presented in the Statement of Financial Position (c) Balance Sheet Location Commodity (a) Interest Rate (a) (in millions) Current Risk Management Assets $ 24.1 $ 1.6 $ 25.7 $ (0.4) $ 25.3 Long-term Risk Management Assets — — — — — Total Assets 24.1 1.6 25.7 (0.4) 25.3 Current Risk Management Liabilities 2.1 — 2.1 (0.5) 1.6 Long-term Risk Management Liabilities — — — — — Total Liabilities 2.1 — 2.1 (0.5) 1.6 Total MTM Derivative Contract Net Assets $ 22.0 $ 1.6 $ 23.6 $ 0.1 $ 23.7 SWEPCo June 30, 2023 Risk Management Gross Amounts Offset Net Amounts of Assets/Liabilities Contracts – in the Statement of Presented in the Statement of Balance Sheet Location Commodity (a) Financial Position (b) Financial Position (c) (in millions) Current Risk Management Assets $ 28.5 $ (0.5) $ 28.0 Long-term Risk Management Assets — — — Total Assets 28.5 (0.5) 28.0 Current Risk Management Liabilities 2.4 (0.8) 1.6 Long-term Risk Management Liabilities 0.2 — 0.2 Total Liabilities 2.6 (0.8) 1.8 Total MTM Derivative Contract Net Assets $ 25.9 $ 0.3 $ 26.2 December 31, 2022 Risk Management Gross Amounts Offset Net Amounts of Assets/Liabilities Contracts – in the Statement of Presented in the Statement of Balance Sheet Location Commodity (a) Financial Position (b) Financial Position (c) (in millions) Current Risk Management Assets $ 16.8 $ (0.4) $ 16.4 Long-term Risk Management Assets — — — Total Assets 16.8 (0.4) 16.4 Current Risk Management Liabilities 2.0 (0.6) 1.4 Long-term Risk Management Liabilities — — — Total Liabilities 2.0 (0.6) 1.4 Total MTM Derivative Contract Net Assets $ 14.8 $ 0.2 $ 15.0 (a) Derivative instruments within these categories are disclosed as gross. These instruments are subject to master netting agreements and are presented on the balance sheets on a net basis in accordance with the accounting guidance for “Derivatives and Hedging.” (b) Amounts include counterparty netting of risk management and hedging contracts and associated cash collateral in accordance with the accounting guidance for “Derivatives and Hedging.” (c) All derivative contracts subject to a master netting arrangement or similar agreement are offset in the statement of financial position. The tables below present the Registrants’ amount of gain (loss) recognized on risk management contracts: Amount of Gain (Loss) Recognized on Risk Management Contracts Three Months Ended June 30, 2023 Location of Gain (Loss) AEP AEP Texas APCo I&M OPCo PSO SWEPCo (in millions) Vertically Integrated Utilities Revenues $ 17.0 $ — $ — $ — $ — $ — $ — Generation & Marketing Revenues (141.8) — — — — — — Electric Generation, Transmission and Distribution Revenues — — — 17.0 — — — Purchased Electricity, Fuel and Other Consumables Used for Electric Generation 1.3 — 1.3 0.1 — — — Other Operation (0.1) — — — — — — Maintenance (0.3) (0.1) — — — — — Regulatory Assets (a) (12.4) (0.1) 5.9 (1.6) (12.8) (2.3) (0.9) Regulatory Liabilities (a) 102.0 — 17.4 3.6 — 42.4 33.6 Total Gain (Loss) on Risk Management Contracts $ (34.3) $ (0.2) $ 24.6 $ 19.1 $ (12.8) $ 40.1 $ 32.7 Three Months Ended June 30, 2022 Location of Gain (Loss) AEP AEP Texas APCo I&M OPCo PSO SWEPCo (in millions) Vertically Integrated Utilities Revenues $ 0.1 $ — $ — $ — $ — $ — $ — Generation & Marketing Revenues 121.0 — — — — — — Purchased Electricity, Fuel and Other Consumables Used for Electric Generation 0.9 — 0.7 — — 0.1 — Other Operation 1.7 0.5 0.2 0.2 0.3 0.2 0.3 Maintenance 2.4 0.7 0.4 0.2 0.4 0.3 0.4 Regulatory Assets (a) 21.4 0.1 0.1 0.3 21.0 — (0.1) Regulatory Liabilities (a) 110.4 — 21.6 1.5 1.6 39.0 36.9 Total Gain on Risk Management Contracts $ 257.9 $ 1.3 $ 23.0 $ 2.2 $ 23.3 $ 39.6 $ 37.5 Six Months Ended June 30, 2023 Location of Gain (Loss) AEP AEP Texas APCo I&M OPCo PSO SWEPCo (in millions) Vertically Integrated Utilities Revenues $ 11.7 $ — $ — $ — $ — $ — $ — Generation & Marketing Revenues (289.2) — — — — — — Electric Generation, Transmission and Distribution Revenues — — — 11.7 — — — Purchased Electricity, Fuel and Other Consumables Used for Electric Generation 2.0 — 1.9 0.1 — — — Other Operation (0.1) — — — — — — Maintenance (0.2) (0.1) — — — — — Regulatory Assets (a) (37.2) (0.5) (1.2) (2.1) (25.1) (3.5) (2.4) Regulatory Liabilities (a) 100.5 — (8.8) 4.8 — 60.4 45.5 Total Gain (Loss) on Risk Management Contracts $ (212.5) $ (0.6) $ (8.1) $ 14.5 $ (25.1) $ 56.9 $ 43.1 Six Months Ended June 30, 2022 Location of Gain (Loss) AEP AEP Texas APCo I&M OPCo PSO SWEPCo (in millions) Vertically Integrated Utilities Revenues $ 0.1 $ — $ — $ — $ — $ — $ — Generation & Marketing Revenues 273.3 — — — — — — Electric Generation, Transmission and Distribution Revenues — — 0.1 (0.1) — — — Purchased Electricity, Fuel and Other Consumables Used for Electric Generation 2.4 — 2.1 — — 0.1 — Other Operation 2.3 0.7 0.2 0.3 0.4 0.3 0.4 Maintenance 3.2 0.9 0.5 0.3 0.5 0.4 0.5 Regulatory Assets (a) 45.0 0.1 — (1.3) 44.9 3.6 (2.2) Regulatory Liabilities (a) 146.9 0.9 20.2 3.2 1.6 51.7 57.8 Total Gain on Risk Management Contracts $ 473.2 $ 2.6 $ 23.1 $ 2.4 $ 47.4 $ 56.1 $ 56.5 (a) Represents realized and unrealized gains and losses subject to regulatory accounting treatment recorded as either current or noncurrent on the balance sheets. Certain qualifying derivative instruments have been designated as normal purchase or normal sale contracts, as provided in the accounting guidance for “Derivatives and Hedging.” Derivative contracts that have been designated as normal purchases or normal sales under that accounting guidance are not subject to MTM accounting treatment and are recognized on the statements of income on an accrual basis. The accounting for the changes in the fair value of a derivative instrument depends on whether it qualifies for and has been designated as part of a hedging relationship and further, on the type of hedging relationship. Depending on the exposure, management designates a hedging instrument as a fair value hedge or a cash flow hedge. For contracts that have not been designated as part of a hedging relationship, the accounting for changes in fair value depends on whether the derivative instrument is held for trading purposes. Unrealized and realized gains and losses on derivative instruments held for trading purposes are included in revenues on a net basis on the statements of income. Unrealized and realized gains and losses on derivative instruments not held for trading purposes are included in revenues or expenses on the statements of income depending on the relevant facts and circumstances. Certain derivatives that economically hedge future commodity risk are recorded in the same line item on the statements of income as that of the associated risk being hedged. However, unrealized and some realized gains and losses in regulated jurisdictions for both trading and non-trading derivative instruments are recorded as regulatory assets (for losses) or regulatory liabilities (for gains) in accordance with the accounting guidance for “Regulated Operations.” Accounting for Fair Value Hedging Strategies (Applies to AEP) For fair value hedges (i.e. hedging the exposure to changes in the fair value of an asset, liability or an identified portion thereof attributable to a particular risk), the gain or loss on the derivative instrument as well as the offsetting gain or loss on the hedged item associated with the hedged risk impacts net income during the period of change. AEP records realized and unrealized gains or losses on interest rate swaps that are designated and qualify for fair value hedge accounting treatment and any offsetting changes in the fair value of the debt being hedged in Interest Expense on the statements of income. The following table shows the impacts recognized on the balance sheets related to the hedged items in fair value hedging relationships: Carrying Amount of the Hedged Liabilities Cumulative Amount of Fair Value Hedging Adjustment Included in the Carrying Amount of the Hedged Liabilities June 30, 2023 December 31, 2022 June 30, 2023 December 31, 2022 (in millions) Long-term Debt (a) (b) $ (855.1) $ (855.5) $ 90.8 $ 89.7 (a) Amounts included on the Balance Sheet within Noncurrent Liabilities line item Long-term Debt. (b) Amounts include $(34) million and $(38) million as of June 30, 2023 and December 31, 2022, respectively, for the fair value hedge adjustment of hedged debt obligations for which hedge accounting has been discontinued. The pretax effects of fair value hedge accounting on income were as follows: Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 (in millions) Gain (Loss) on Interest Rate Contracts: Fair Value Hedging Instruments (a) $ (4.2) $ (17.6) $ 2.7 $ (62.4) Fair Value Portion of Long-term Debt (a) 4.2 17.6 (2.7) 62.4 (a) Gain (Loss) is included in Interest Expense on the statements of income. Accounting for Cash Flow Hedging Strategies (Applies to AEP, AEP Texas, APCo, I&M, PSO and SWEPCo) For cash flow hedges (i.e. hedging the exposure to variability in expected future cash flows that is attributable to a particular risk), the Registrants initially report the gain or loss on the derivative instrument as a component of Accumulated Other Comprehensive Income (Loss) on the balance sheets until the period the hedged item affects net income. Realized gains and losses on derivative contracts for the purchase and sale of power designated as cash flow hedges are included in Total Revenues or Purchased Electricity for Resale on the statements of income or in Regulatory Assets or Regulatory Liabilities on the balance sheets, depending on the specific nature of the risk being hedged. During the three and six months ended June 30, 2023 and 2022, AEP applied cash flow hedging to outstanding power derivatives and the Registrant Subsidiaries did not. The Registrants reclassify gains and losses on interest rate derivative hedges related to debt financings from Accumulated Other Comprehensive Income (Loss) on the balance sheets into Interest Expense on the statements of income in those periods in which hedged interest payments occur. During the three months ended June 30, 2023, AEP and AEP Texas applied cash flow hedging to outstanding interest rate derivatives and the other Registrant Subsidiaries did not. During the six months ended June 30, 2023, AEP, AEP Texas, I&M, PSO and SWEPCo applied cash flow hedging to outstanding interest rate derivatives and the other Registrant Subsidiaries did not. During the three and six months ended June 30, 2022, AEP applied cash flow hedging to outstanding interest rate derivatives and the Registrant Subsidiaries did not. For details on effective cash flow hedges included in Accumulated Other Comprehensive Income (Loss) on the balance sheets and the reasons for changes in cash flow hedges, see Note 3 - Comprehensive Income. Cash flow hedges included in Accumulated Other Comprehensive Income (Loss) on the balance sheets were: Impact of Cash Flow Hedges on AEP’s Balance Sheets June 30, 2023 December 31, 2022 Commodity Interest Rate Commodity Interest Rate (in millions) AOCI Gain Net of Tax $ 93.5 $ 12.7 $ 223.5 $ 0.3 Portion Expected to be Reclassed to Net Income During the Next Twelve Months 24.1 4.3 119.9 0.3 As of June 30, 2023 the maximum length of time that AEP is hedging its exposure to variability in future cash flows related to forecasted transactions is 93 months and 90 months for commodity and interest rate hedges, respectively. Impact of Cash Flow Hedges on the Registrant Subsidiaries’ Balance Sheets June 30, 2023 December 31, 2022 Interest Rate Expected to be Expected to be Reclassified to Reclassified to Net Income During Net Income During AOCI Gain (Loss) the Next AOCI Gain (Loss) the Next Company Net of Tax Twelve Months Net of Tax Twelve Months (in millions) AEP Texas $ 2.9 $ 0.3 $ (0.3) $ (0.2) APCo 6.3 0.8 6.7 0.8 I&M (5.7) (0.4) (5.1) (0.6) PSO (0.2) — 1.3 0.1 SWEPCo 1.4 0.3 1.1 0.2 The actual amounts reclassified from Accumulated Other Comprehensive Income (Loss) to Net Income can differ from the estimate above due to market price changes. Credit Risk Management mitigates credit risk in wholesale marketing and trading activities by assessing the creditworthiness of potential counterparties before entering into transactions with them and continuing to evaluate their creditworthiness on an ongoing basis. Management uses credit agency ratings and current market-based qualitative and quantitative data as well as financial statements to assess the financial health of counterparties on an ongoing basis. Master agreements are typically used to facilitate the netting of cash flows associated with a single counterparty and may include collateral requirements. Collateral requirements in the form of cash, letters of credit and parental/affiliate guarantees may be obtained as security from counterparties in order to mitigate credit risk. Some master agreements include margining, which requires a counterparty to post cash or letters of credit in the event exposure exceeds the established threshold. The threshold represents an unsecured credit limit which may be supported by a parental/affiliate guaranty, as determined in accordance with AEP’s credit policy. In addition, master agreements allow for termination and liquidation of all positions in the event of a default including a failure or inability to post collateral when required. Credit-Risk-Related Contingent Features Credit Downgrade Triggers (Applies to AEP, APCo, I&M, PSO and SWEPCo) A limited number of derivative contracts include collateral triggering events, which include a requirement to maintain certain credit ratings. On an ongoing basis, AEP’s risk management organization assesses the appropriateness of these collateral triggering events in contracts. The Registrants have not experienced a downgrade below a specified credit rating threshold that would require the posting of additional collateral. AEP had derivative contracts with collateral triggering events in a net liability position with a total exposure of $0 and $2 million as of June 30, 2023 and December 31, 2022, respectively. The Registrant Subsidiaries had no derivative contracts with collateral triggering events in a net liability position as of June 30, 2023 and December 31, 2022. Cross-Acceleration Triggers Certain interest rate derivative contracts contain cross-acceleration provisions that, if triggered, would permit the counterparty to declare a default and require settlement of the outstanding payable. These cross-acceleration provisions could be triggered if there was a non-performance event by the Registrants under any of their outstanding debt of at least $50 million and the lender on that debt has accelerated the entire repayment obligation. On an ongoing basis, AEP’s risk management organization assesses the appropriateness of these cross-acceleration provisions in contracts. AEP had derivative contracts with cross-acceleration provisions in a net liability position of $125 million and $127 million as of June 30, 2023 and December 31, 2022, respectively. There was no cash collateral posted as of June 30, 2023 and December 31, 2022, respectively. If a cross-acceleration provision would have been triggered, settlement at fair value would have been required. The Registrant Subsidiaries had no derivative contracts with cross-acceleration provisions outstanding as of June 30, 2023 and December 31, 2022. Cross-Default Triggers (Applies to AEP, APCo, I&M, PSO and SWEPCo) In addition, a majority of non-exchange traded commodity contracts contain cross-default provisions that, if triggered, would permit the counterparty to declare a default and require settlement of the outstanding payable. These cross-default provisions could be triggered if there was a non-performance event by Parent or the obligor under outstanding debt or a third-party obligation that is $50 million or greater. On an ongoing basis, AEP’s risk management organization assesses the appropriateness of these cross-default provisions in the contracts. AEP had derivative liabilities subject to cross-default provisions in a net liability position of $178 million and $217 million as of June 30, 2023 and December 31, 2022, respectively, after considering contractual netting arrangements. There was no cash collateral posted as of June 30, 2023 and December 31, 2022. If a cross-default provision would have been triggered, settlement at fair value would have been required. The Registrant Subsidiaries’ derivative contracts with cross-default provisions outstanding as of June 30, 2023 and December 31, 2022 were not material. |
Fair Value Measurements
Fair Value Measurements | 6 Months Ended |
Jun. 30, 2023 | |
Fair Value Measurements | FAIR VALUE MEASUREMENTS The disclosures in this note apply to all Registrants except AEPTCo unless indicated otherwise. Fair Value Hierarchy and Valuation Techniques The accounting guidance for “Fair Value Measurements and Disclosures” establishes a fair value hierarchy that prioritizes the inputs used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurement) and the lowest priority to unobservable inputs (Level 3 measurement). Where observable inputs are available for substantially the full term of the asset or liability, the instrument is categorized in Level 2. When quoted market prices are not available, pricing may be completed using comparable securities, dealer values, operating data and general market conditions to determine fair value. Valuation models utilize various inputs such as commodity, interest rate and, to a lesser degree, volatility and credit that include quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in inactive markets, market corroborated inputs (i.e. inputs derived principally from, or correlated to, observable market data) and other observable inputs for the asset or liability. For commercial activities, exchange-traded derivatives, namely futures contracts, are generally fair valued based on unadjusted quoted prices in active markets and are classified as Level 1. Level 2 inputs primarily consist of OTC broker quotes in moderately active or less active markets, as well as exchange-traded derivatives where there is insufficient market liquidity to warrant inclusion in Level 1. Management verifies price curves using these broker quotes and classifies these fair values within Level 2 when substantially all of the fair value can be corroborated. Management typically obtains multiple broker quotes, which are nonbinding in nature but are based on recent trades in the marketplace. When multiple broker quotes are obtained, the quoted bid and ask prices are averaged. In certain circumstances, a broker quote may be discarded if it is a clear outlier. Management uses a historical correlation analysis between the broker quoted location and the illiquid locations. If the points are highly correlated, these locations are included within Level 2 as well. Certain OTC and bilaterally executed derivative instruments are executed in less active markets with a lower availability of pricing information. Illiquid transactions, complex structured transactions, FTRs and counterparty credit risk may require nonmarket-based inputs. Some of these inputs may be internally developed or extrapolated and utilized to estimate fair value. When such inputs have a significant impact on the measurement of fair value, the instrument is categorized as Level 3. The main driver of contracts being classified as Level 3 is the inability to substantiate energy price curves in the market. A portion of the Level 3 instruments have been economically hedged which limits potential earnings volatility. AEP utilizes its trustee’s external pricing service to estimate the fair value of the underlying investments held in the nuclear trusts. AEP’s investment managers review and validate the prices utilized by the trustee to determine fair value. AEP’s management performs its own valuation testing to verify the fair values of the securities. AEP receives audit reports of the trustee’s operating controls and valuation processes. Assets in the nuclear trusts, cash and cash equivalents, other temporary investments restricted cash for securitized funding are classified using the following methods. Equities are classified as Level 1 holdings if they are actively traded on exchanges. Items classified as Level 1 are investments in money market funds, fixed income and equity mutual funds and equity securities. They are valued based on observable inputs, primarily unadjusted quoted prices in active markets for identical assets. Items classified as Level 2 are primarily investments in individual fixed income securities. Fixed income securities generally do not trade on exchanges and do not have an official closing price but their valuation inputs are based on observable market data. Pricing vendors calculate bond valuations using financial models and matrices. The models use observable inputs including yields on benchmark securities, quotes by securities brokers, rating agency actions, discounts or premiums on securities compared to par prices, changes in yields for U.S. Treasury securities, corporate actions by bond issuers, prepayment schedules and histories, economic events and, for certain securities, adjustments to yields to reflect changes in the rate of inflation. Other securities with model-derived valuation inputs that are observable are also classified as Level 2 investments. Investments with unobservable valuation inputs are classified as Level 3 investments. Fair Value Measurements of Long-term Debt (Applies to all Registrants) The fair values of Long-term Debt are based on quoted market prices, without credit enhancements, for the same or similar issues and the current interest rates offered for instruments with similar maturities classified as Level 2 measurement inputs. These instruments are not marked-to-market. The estimates presented are not necessarily indicative of the amounts that could be realized in a current market exchange. The fair value of AEP’s Equity Units (Level 1) are valued based on publicly traded securities issued by AEP. The book values and fair values of Long-term Debt are summarized in the following table: June 30, 2023 December 31, 2022 Company Book Value Fair Value Book Value Fair Value (in millions) AEP (a) $ 40,142.3 $ 36,351.3 $ 36,801.0 $ 32,915.9 AEP Texas 5,937.5 5,295.5 5,657.8 5,045.8 AEPTCo 5,473.0 4,719.2 4,782.8 3,940.5 APCo 5,599.7 5,298.4 5,410.5 5,079.2 I&M 3,464.1 3,174.2 3,260.8 2,929.0 OPCo 3,365.6 2,878.8 2,970.3 2,516.6 PSO 2,383.9 2,106.1 1,912.8 1,635.8 SWEPCo 3,645.6 3,135.3 3,391.6 2,870.9 (a) The fair value amounts include debt related to AEP’s Equity Units and had a fair value of $844 million and $877 million as of June 30, 2023 and December 31, 2022, respectively. See “Equity Units” section of Note 12 for additional information. Fair Value Measurements of Other Temporary Investments and Restricted Cash (Applies to AEP) Other Temporary Investments include marketable securities that management intends to hold for less than one year and investments by AEP’s protected cell of EIS. The following is a summary of Other Temporary Investments and Restricted Cash: June 30, 2023 Gross Gross Unrealized Unrealized Fair Other Temporary Investments and Restricted Cash Cost Gains Losses Value (in millions) Restricted Cash (a) $ 45.8 $ — $ — $ 45.8 Other Cash Deposits 15.9 — — 15.9 Fixed Income Securities – Mutual Funds (b) 155.7 — (8.9) 146.8 Equity Securities – Mutual Funds 15.4 24.4 — 39.8 Total Other Temporary Investments and Restricted Cash $ 232.8 $ 24.4 $ (8.9) $ 248.3 December 31, 2022 Gross Gross Unrealized Unrealized Fair Other Temporary Investments and Restricted Cash Cost Gains Losses Value (in millions) Restricted Cash (a) $ 47.1 $ — $ — $ 47.1 Other Cash Deposits 9.0 — — 9.0 Fixed Income Securities – Mutual Funds (b) 152.4 — (8.3) 144.1 Equity Securities – Mutual Funds 15.1 19.4 — 34.5 Total Other Temporary Investments and Restricted Cash $ 223.6 $ 19.4 $ (8.3) $ 234.7 (a) Primarily represents amounts held for the repayment of debt. (b) Primarily short and intermediate maturities which may be sold and do not contain maturity dates. The following table provides the activity for fixed income and equity securities within Other Temporary Investments: Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 (in millions) Proceeds from Investment Sales $ — $ 11.1 $ — $ 15.0 Purchases of Investments 1.3 0.8 2.3 1.6 Gross Realized Gains on Investment Sales — 3.3 — 3.6 Gross Realized Losses on Investment Sales — 0.4 — 0.5 Fair Value Measurements of Trust Assets for Decommissioning and SNF Disposal (Applies to AEP and I&M) Nuclear decommissioning and SNF trust funds represent funds that regulatory commissions allow I&M to collect through rates to fund future decommissioning and SNF disposal liabilities. By rules or orders, the IURC, the MPSC and the FERC established investment limitations and general risk management guidelines. In general, limitations include: • Acceptable investments (rated investment grade or above when purchased). • Maximum percentage invested in a specific type of investment. • Prohibition of investment in obligations of AEP, I&M or their affiliates. • Withdrawals permitted only for payment of decommissioning costs and trust expenses. I&M maintains trust funds for each regulatory jurisdiction. Regulatory approval is required to withdraw decommissioning funds. These funds are managed by an external investment manager that must comply with the guidelines and rules of the applicable regulatory authorities. The trust assets are invested to optimize the net of tax earnings of the trust giving consideration to liquidity, risk, diversification and other prudent investment objectives. I&M records securities held in these trust funds in Spent Nuclear Fuel and Decommissioning Trusts on its balance sheets. I&M records these securities at fair value. I&M classifies debt securities in the trust funds as available-for-sale due to their long-term purpose. Other-than-temporary impairments for investments in debt securities are considered realized losses as a result of securities being managed by an external investment management firm. The external investment management firm makes specific investment decisions regarding the debt and equity investments held in these trusts and generally intends to sell debt securities in an unrealized loss position as part of a tax optimization strategy. Impairments reduce the cost basis of the securities which will affect any future unrealized gain or realized gain or loss due to the adjusted cost of investment. I&M records unrealized gains, unrealized losses and other-than-temporary impairments from securities in these trust funds as adjustments to the regulatory liability account for the nuclear decommissioning trust funds and to regulatory assets or liabilities for the SNF disposal trust funds in accordance with their treatment in rates. Consequently, changes in fair value of trust assets do not affect earnings or AOCI. The following is a summary of nuclear trust fund investments: June 30, 2023 December 31, 2022 Gross Gross Other-Than- Gross Gross Other-Than- Fair Unrealized Unrealized Temporary Fair Unrealized Unrealized Temporary Value Gains Losses Impairments Value Gains Losses Impairments (in millions) Cash and Cash Equivalents $ 24.2 $ — $ — $ — $ 21.2 $ — $ — $ — Fixed Income Securities: United States Government 1,191.9 9.9 (13.8) (25.6) 1,123.8 11.8 (14.9) (18.8) Corporate Debt 68.8 0.8 (6.6) (1.7) 61.6 0.7 (7.7) (9.6) State and Local Government 3.3 — — — 3.3 0.1 — (0.1) Subtotal Fixed Income Securities 1,264.0 10.7 (20.4) (27.3) 1,188.7 12.6 (22.6) (28.5) Equity Securities - Domestic 2,360.6 1,725.7 (4.6) — 2,131.3 1,483.7 (6.4) — Spent Nuclear Fuel and Decommissioning Trusts $ 3,648.8 $ 1,736.4 $ (25.0) $ (27.3) $ 3,341.2 $ 1,496.3 $ (29.0) $ (28.5) The following table provides the securities activity within the decommissioning and SNF trusts: Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 (in millions) Proceeds from Investment Sales $ 688.7 $ 736.4 $ 1,206.3 $ 1,229.9 Purchases of Investments 697.0 745.5 1,233.3 1,253.2 Gross Realized Gains on Investment Sales 6.4 10.9 54.8 16.7 Gross Realized Losses on Investment Sales 3.7 17.9 12.3 25.1 The base cost of fixed income securities was $1.3 billion and $1.2 billion as of June 30, 2023 and December 31, 2022, respectively. The base cost of equity securities was $640 million and $654 million as of June 30, 2023 and December 31, 2022, respectively. The fair value of fixed income securities held in the nuclear trust funds, summarized by contractual maturities, as of June 30, 2023 was as follows: Fair Value of Fixed Income Securities (in millions) Within 1 year $ 325.0 After 1 year through 5 years 496.9 After 5 years through 10 years 219.2 After 10 years 222.9 Total $ 1,264.0 Fair Value Measurements of Financial Assets and Liabilities The following tables set forth, by level within the fair value hierarchy, the Registrants’ financial assets and liabilities that were accounted for at fair value on a recurring basis. As required by the accounting guidance for “Fair Value Measurements and Disclosures,” financial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. Management’s assessment of the significance of a particular input to the fair value measurement requires judgment and may affect the valuation of fair value assets and liabilities and their placement within the fair value hierarchy levels. There have not been any significant changes in management’s valuation techniques. AEP Assets and Liabilities Measured at Fair Value on a Recurring Basis June 30, 2023 Level 1 Level 2 Level 3 Other Total Assets: (in millions) Other Temporary Investments and Restricted Cash Restricted Cash $ 45.8 $ — $ — $ — $ 45.8 Other Cash Deposits (a) — — — 15.9 15.9 Fixed Income Securities – Mutual Funds 146.8 — — — 146.8 Equity Securities – Mutual Funds (b) 39.8 — — — 39.8 Total Other Temporary Investments and Restricted Cash 232.4 — — 15.9 248.3 Risk Management Assets Risk Management Commodity Contracts (c) (d) 12.5 893.6 276.5 (756.9) 425.7 Cash Flow Hedges: Commodity Hedges (c) — 118.4 19.4 (17.2) 120.6 Total Risk Management Assets 12.5 1,012.0 295.9 (774.1) 546.3 Spent Nuclear Fuel and Decommissioning Trusts Cash and Cash Equivalents (e) 13.3 — — 10.9 24.2 Fixed Income Securities: United States Government — 1,191.9 — — 1,191.9 Corporate Debt — 68.8 — — 68.8 State and Local Government — 3.3 — — 3.3 Subtotal Fixed Income Securities — 1,264.0 — — 1,264.0 Equity Securities – Domestic (b) 2,360.6 — — — 2,360.6 Total Spent Nuclear Fuel and Decommissioning Trusts 2,373.9 1,264.0 — 10.9 3,648.8 Total Assets $ 2,618.8 $ 2,276.0 $ 295.9 $ (747.3) $ 4,443.4 Liabilities: Risk Management Liabilities Risk Management Commodity Contracts (c) (d) $ 26.5 $ 848.3 $ 169.8 $ (719.4) $ 325.2 Cash Flow Hedges: Commodity Hedges (c) — 18.8 — (17.2) 1.6 Fair Value Hedges — 124.7 — — 124.7 Total Risk Management Liabilities $ 26.5 $ 991.8 $ 169.8 $ (736.6) $ 451.5 AEP Assets and Liabilities Measured at Fair Value on a Recurring Basis December 31, 2022 Level 1 Level 2 Level 3 Other Total Assets: (in millions) Other Temporary Investments and Restricted Cash Restricted Cash $ 47.1 $ — $ — $ — $ 47.1 Other Cash Deposits (a) — — — 9.0 9.0 Fixed Income Securities – Mutual Funds 144.1 — — — 144.1 Equity Securities – Mutual Funds (b) 34.5 — — — 34.5 Total Other Temporary Investments and Restricted Cash 225.7 — — 9.0 234.7 Risk Management Assets Risk Management Commodity Contracts (c) (f) 15.0 1,197.5 314.4 (1,211.5) 315.4 Cash Flow Hedges: Commodity Hedges (c) — 332.6 26.7 (52.8) 306.5 Interest Rate Hedges — 11.0 — — 11.0 Total Risk Management Assets 15.0 1,541.1 341.1 (1,264.3) 632.9 Spent Nuclear Fuel and Decommissioning Trusts Cash and Cash Equivalents (e) 11.3 — — 9.9 21.2 Fixed Income Securities: United States Government — 1,123.8 — — 1,123.8 Corporate Debt — 61.6 — — 61.6 State and Local Government — 3.3 — — 3.3 Subtotal Fixed Income Securities — 1,188.7 — — 1,188.7 Equity Securities – Domestic (b) 2,131.3 — — — 2,131.3 Total Spent Nuclear Fuel and Decommissioning Trusts 2,142.6 1,188.7 — 9.9 3,341.2 Total Assets $ 2,383.3 $ 2,729.8 $ 341.1 $ (1,245.4) $ 4,208.8 Liabilities: Risk Management Liabilities Risk Management Commodity Contracts (c) (f) $ 21.8 $ 870.9 $ 179.0 $ (731.9) $ 339.8 Cash Flow Hedges: Commodity Hedges (c) — 74.3 1.7 (52.8) 23.2 Fair Value Hedges — 127.4 — — 127.4 Total Risk Management Liabilities $ 21.8 $ 1,072.6 $ 180.7 $ (784.7) $ 490.4 AEP Texas Assets and Liabilities Measured at Fair Value on a Recurring Basis June 30, 2023 Level 1 Level 2 Level 3 Other Total Assets: (in millions) Restricted Cash for Securitized Funding $ 30.7 $ — $ — $ — $ 30.7 Liabilities: Risk Management Liabilities Risk Management Commodity Contracts (c) $ — $ 0.5 $ — $ (0.5) $ — December 31, 2022 Level 1 Level 2 Level 3 Other Total Assets: (in millions) Restricted Cash for Securitized Funding $ 32.7 $ — $ — $ — $ 32.7 APCo Assets and Liabilities Measured at Fair Value on a Recurring Basis June 30, 2023 Level 1 Level 2 Level 3 Other Total Assets: (in millions) Restricted Cash for Securitized Funding $ 15.1 $ — $ — $ — $ 15.1 Risk Management Assets Risk Management Commodity Contracts (c) (g) — 1.6 41.1 (3.3) 39.4 Total Assets $ 15.1 $ 1.6 $ 41.1 $ (3.3) $ 54.5 Liabilities: Risk Management Liabilities Risk Management Commodity Contracts (c) (g) $ — $ 3.4 $ 1.7 $ (4.0) $ 1.1 December 31, 2022 Level 1 Level 2 Level 3 Other Total Assets: (in millions) Restricted Cash for Securitized Funding $ 14.4 $ — $ — $ — $ 14.4 Risk Management Assets Risk Management Commodity Contracts (c) (g) — 0.7 69.4 (1.0) 69.1 Total Assets $ 14.4 $ 0.7 $ 69.4 $ (1.0) $ 83.5 Liabilities: Risk Management Liabilities Risk Management Commodity Contracts (c) (g) $ — $ 4.6 $ 0.3 $ (1.4) $ 3.5 I&M Assets and Liabilities Measured at Fair Value on a Recurring Basis June 30, 2023 Level 1 Level 2 Level 3 Other Total Assets: (in millions) Risk Management Assets Risk Management Commodity Contracts (c) (g) $ — $ 25.6 $ 8.2 $ (3.3) $ 30.5 Spent Nuclear Fuel and Decommissioning Trusts Cash and Cash Equivalents (e) 13.3 — — 10.9 24.2 Fixed Income Securities: United States Government — 1,191.9 — — 1,191.9 Corporate Debt — 68.8 — — 68.8 State and Local Government — 3.3 — — 3.3 Subtotal Fixed Income Securities — 1,264.0 — — 1,264.0 Equity Securities - Domestic (b) 2,360.6 — — — 2,360.6 Total Spent Nuclear Fuel and Decommissioning Trusts 2,373.9 1,264.0 — 10.9 3,648.8 Total Assets $ 2,373.9 $ 1,289.6 $ 8.2 $ 7.6 $ 3,679.3 Liabilities: Risk Management Liabilities Risk Management Commodity Contracts (c) (g) $ — $ 3.8 $ 1.4 $ (3.8) $ 1.4 December 31, 2022 Level 1 Level 2 Level 3 Other Total Assets: (in millions) Risk Management Assets Risk Management Commodity Contracts (c) (g) $ — $ 11.3 $ 5.3 $ (1.2) $ 15.4 Spent Nuclear Fuel and Decommissioning Trusts Cash and Cash Equivalents (e) 11.3 — — 9.9 21.2 Fixed Income Securities: United States Government — 1,123.8 — — 1,123.8 Corporate Debt — 61.6 — — 61.6 State and Local Government — 3.3 — — 3.3 Subtotal Fixed Income Securities — 1,188.7 — — 1,188.7 Equity Securities - Domestic (b) 2,131.3 — — — 2,131.3 Total Spent Nuclear Fuel and Decommissioning Trusts 2,142.6 1,188.7 — 9.9 3,341.2 Total Assets $ 2,142.6 $ 1,200.0 $ 5.3 $ 8.7 $ 3,356.6 Liabilities: Risk Management Liabilities Risk Management Commodity Contracts (c) (g) $ — $ 0.6 $ 0.7 $ (1.3) $ — OPCo Assets and Liabilities Measured at Fair Value on a Recurring Basis June 30, 2023 Level 1 Level 2 Level 3 Other Total Liabilities: (in millions) Risk Management Liabilities Risk Management Commodity Contracts (c) (g) $ — $ 0.4 $ 54.0 $ (0.4) $ 54.0 December 31, 2022 Level 1 Level 2 Level 3 Other Total Liabilities: (in millions) Risk Management Liabilities Risk Management Commodity Contracts (c) (g) $ — $ — $ 40.0 $ (0.3) $ 39.7 PSO Assets and Liabilities Measured at Fair Value on a Recurring Basis June 30, 2023 Level 1 Level 2 Level 3 Other Total Assets: (in millions) Risk Management Assets Risk Management Commodity Contracts (c) (g) $ — $ 2.9 $ 44.7 $ (2.8) $ 44.8 Liabilities: Risk Management Liabilities Risk Management Commodity Contracts (c) (g) $ — $ 4.8 $ 1.6 $ (3.0) $ 3.4 December 31, 2022 Level 1 Level 2 Level 3 Other Total Assets: (in millions) Risk Management Assets Risk Management Commodity Contracts (c) (g) $ — $ — $ 24.0 $ 1.3 $ 25.3 Cash Flow Hedges: Interest Rate Hedges — 1.6 — (1.6) — Total Assets $ — $ 1.6 $ 24.0 $ (0.3) $ 25.3 Liabilities: Risk Management Liabilities Risk Management Commodity Contracts (c) (g) $ — $ 1.7 $ 0.3 $ (0.4) $ 1.6 SWEPCo Assets and Liabilities Measured at Fair Value on a Recurring Basis June 30, 2023 Level 1 Level 2 Level 3 Other Total Assets: (in millions) Risk Management Assets Risk Management Commodity Contracts (c) (g) $ — $ 0.4 $ 28.1 $ (0.5) $ 28.0 Liabilities: Risk Management Liabilities Risk Management Commodity Contracts (c) (g) $ — $ 0.5 $ 2.1 $ (0.8) $ 1.8 December 31, 2022 Level 1 Level 2 Level 3 Other Total Assets: (in millions) Risk Management Assets Risk Management Commodity Contracts (c) (g) $ — $ 2.2 $ 14.6 $ (0.4) $ 16.4 Liabilities: Risk Management Liabilities Risk Management Commodity Contracts (c) (g) $ — $ 1.6 $ 0.4 $ (0.6) $ 1.4 (a) Amounts in “Other’’ column primarily represent cash deposits in bank accounts with financial institutions or third-parties. Level 1 and Level 2 amounts primarily represent investments in money market funds. (b) Amounts represent publicly traded equity securities and equity-based mutual funds. (c) Amounts in “Other’’ column primarily represent counterparty netting of risk management and hedging contracts and associated cash collateral under the accounting guidance for “Derivatives and Hedging.’’ (d) The June 30, 2023 maturities of the net fair value of risk management contracts prior to cash collateral, assets/(liabilities), were as follows: Level 1 matures $(6) million in 2023 and $(8) million in periods 2024-2026; Level 2 matures $(27) million in 2023, $59 million in periods 2024-2026, $12 million in periods 2027-2028 and $2 million in periods 2029-2033; Level 3 matures $63 million in 2023, $56 million in periods 2024-2026, $1 million in periods 2027-2028 and $(14) million in periods 2029-2033. Risk management commodity contracts are substantially comprised of power contracts. (e) Amounts in “Other’’ column primarily represent accrued interest receivables from financial institutions. Level 1 amounts primarily represent investments in money market funds. (f) The December 31, 2022 maturities of the net fair value of risk management contracts prior to cash collateral, assets/(liabilities), were as follows: Level 1 matures $(7) million in 2023; Level 2 matures $182 million in 2023, $134 million in periods 2024-2026, $10 million in periods 2027-2028 and $1 million in periods 2029-2033; Level 3 matures $128 million in 2023, $6 million in periods 2024-2026, $6 million in periods 2027-2028 and $(5) million in periods 2029-2033. Risk management commodity contracts are substantially comprised of power contracts. (g) Substantially comprised of power contracts for the Registrant Subsidiaries. The following tables set forth a reconciliation of changes in the fair value of net trading derivatives classified as Level 3 in the fair value hierarchy: Three Months Ended June 30, 2023 AEP APCo I&M OPCo PSO SWEPCo (in millions) Balance as of March 31, 2023 $ 45.1 $ 5.7 $ 1.1 $ (46.9) $ 9.3 $ 5.8 Realized Gain (Loss) Included in Net Income (or Changes in Net Assets) (a) (b) (86.8) (11.9) (3.2) (1.4) (42.1) (32.8) Unrealized Gain (Loss) Included in Net Income (or Changes in Net Assets) Relating to Assets Still Held at the Reporting Date (a) (15.8) — — — — — Realized and Unrealized Gains (Losses) Included in Other Comprehensive Income (c) 4.7 — — — — — Settlements 62.3 6.2 2.0 1.3 32.8 27.0 Transfers out of Level 3 (e) (3.1) — — — — — Changes in Fair Value Allocated to Regulated Jurisdictions (f) 119.7 39.4 6.9 (7.0) 43.1 26.0 Balance as of June 30, 2023 $ 126.1 $ 39.4 $ 6.8 $ (54.0) $ 43.1 $ 26.0 Three Months Ended June 30, 2022 AEP APCo I&M OPCo PSO SWEPCo (in millions) Balance as of March 31, 2022 $ 82.8 $ 6.6 $ 1.0 $ (68.5) $ 6.5 $ 15.7 Realized Gain (Loss) Included in Net Income (or Changes in Net Assets) (a) (b) 38.6 5.7 (0.3) 0.9 11.9 19.9 Unrealized Gain (Loss) Included in Net Income (or Changes in Net Assets) Relating to Assets Still Held at the Reporting Date (a) (16.8) — — — — — Realized and Unrealized Gains (Losses) Included in Other Comprehensive Income (c) 5.7 — — — — — Settlements (69.3) (12.4) (0.7) — (18.4) (27.9) Transfers into Level 3 (d) (e) 2.4 — — — — — Transfers out of Level 3 (e) 5.8 — — — — — Changes in Fair Value Allocated to Regulated Jurisdictions (f) 234.7 79.7 9.8 19.2 64.5 37.7 Balance as of June 30, 2022 $ 283.9 $ 79.6 $ 9.8 $ (48.4) $ 64.5 $ 45.4 Six Months Ended June 30, 2023 AEP APCo I&M OPCo PSO SWEPCo (in millions) Balance as of December 31, 2022 $ 160.4 $ 69.1 $ 4.6 $ (40.0) $ 23.7 $ 14.2 Realized Gain (Loss) Included in Net Income (or Changes in Net Assets) (a) (b) (97.5) (47.9) (2.3) (1.7) (25.5) (20.3) Unrealized Gain (Loss) Included in Net Income (or Changes in Net Assets) Relating to Assets Still Held at the Reporting Date (a) (3.0) — — — — — Realized and Unrealized Gains (Losses) Included in Other Comprehensive Income (c) (15.0) — — — — — Settlements (23.0) (21.1) (2.2) 2.4 1.8 6.1 Transfers into Level 3 (d) (e) (6.1) — — — — — Transfers out of Level 3 (e) (1.3) — — — — — Changes in Fair Value Allocated to Regulated Jurisdictions (f) 111.6 39.3 6.7 (14.7) 43.1 26.0 Balance as of June 30, 2023 $ 126.1 $ 39.4 $ 6.8 $ (54.0) $ 43.1 $ 26.0 Six Months Ended June 30, 2022 AEP APCo I&M OPCo PSO SWEPCo (in millions) Balance as of December 31, 2021 $ 103.1 $ 41.7 $ (0.7) $ (92.5) $ 12.1 $ 10.9 Realized Gain (Loss) Included in Net Income (or Changes in Net Assets) (a) (b) 68.1 3.0 3.7 2.4 24.2 32.5 Unrealized Gain (Loss) Included in Net Income (or Changes in Net Assets) Relating to Assets Still Held at the Reporting Date (a) (35.7) — — — — — Realized and Unrealized Gains (Losses) Included in Other Comprehensive Income (c) 22.5 — — — — — Settlements (149.0) (44.7) (3.0) 1.4 (36.3) (41.0) Transfers into Level 3 (d) (e) 4.4 — — — — — Transfers out of Level 3 (e) 9.6 — — — — — Changes in Fair Value Allocated to Regulated Jurisdictions (f) 260.9 79.6 9.8 40.3 64.5 43.0 Balance as of June 30, 2022 $ 283.9 $ 79.6 $ 9.8 $ (48.4) $ 64.5 $ 45.4 (a) Included in revenues on the statements of income. (b) Represents the change in fair value between the beginning of the reporting period and the settlement of the risk management commodity contract. (c) Included in cash flow hedges on the statements of comprehensive income. (d) Represents existing assets or liabilities that were previously categorized as Level 2. (e) Transfers are recognized based on their value at the beginning of the reporting period that the transfer occurred. (f) Relates to the net gains (losses) of those contracts that are not reflected on the statements of income. These changes in fair value are recorded as regulatory liabilities for net gains and as regulatory assets for net losses or accounts payable. The following tables quantify the significant unobservable inputs used in developing the fair value of Level 3 positions: Significant Unobservable Inputs June 30, 2023 Significant Input/Range Type of Fair Value Valuation Unobservable Weighted Company Input Assets Liabilities Technique Input Low High Average (c) (in millions) AEP Energy Contracts $ 158.4 $ 158.1 Discounted Cash Flow Forward Market Price (a) $ 1.89 $ 90.40 $ 44.95 AEP Natural Gas Contracts 0.2 0.2 Discounted Cash Flow Forward Market Price (b) 2.14 4.21 3.21 AEP FTRs 137.3 11.5 Discounted Cash Flow Forward Market Price (a) (17.92) 11.35 (0.20) APCo Natural Gas Contracts 0.2 — Discounted Cash Flow Forward Market Price (b) 2.91 4.19 3.35 APCo FTRs 40.9 1.7 Discounted Cash Flow Forward Market Price (a) (3.60) 9.53 1.37 I&M FTRs 8.2 1.4 Discounted Cash Flow Forward Market Price (a) (6.02) 9.11 1.07 OPCo Energy Contracts — 54.0 Discounted Cash Flow Forward Market Price (a) 16.97 71.80 41.40 PSO FTRs 44.7 1.6 Discounted Cash Flow Forward Market Price (a) (17.92) 0.87 (4.44) SWEPCo Natural Gas Contracts — 0.2 Discounted Cash Flow Forward Market Price (b) 2.91 4.19 3.35 SWEPCo FTRs 28.1 1.9 Discounted Cash Flow Forward Market Price (a) (17.92) 0.87 (4.44) December 31, 2022 Significant Input/Range Type of Fair Value Valuation Unobservable Weighted Company Input Assets Liabilities Technique Input (a) Low High Average (c) (in millions) AEP Energy Contracts $ 204.0 $ 167.4 Discounted Cash Flow Forward Market Price $ 2.91 $ 187.34 $ 49.14 AEP FTRs 137.1 13.3 Discounted Cash Flow Forward Market Price (36.45) 20.72 1.18 APCo FTRs 69.4 0.3 Discounted Cash Flow Forward Market Price (2.82) 18.88 3.89 I&M FTRs 5.3 0.7 Discounted Cash Flow Forward Market Price 0.16 18.79 1.23 OPCo Energy Contracts — 40.0 Discounted Cash Flow Forward Market Price 2.91 187.34 48.76 PSO FTRs 24.0 0.3 Discounted Cash Flow Forward Market Price (36.45) 3.40 (7.55) SWEPCo FTRs 14.6 0.4 Discounted Cash Flow Forward Market Price (36.45) 3.40 (7.55) (a) Represents market prices in dollars per MWh. (b) Represents market prices in dollars per MMBtu. (c) The weighted average is the product of the forward market price of the underlying commodity and volume weighted by term. The following table provides the measurement uncertainty of fair value measurements to increases (decreases) in significant unobservable inputs related to Energy Contracts and FTRs for the Registrants as of June 30, 2023 and December 31, 2022: Significant Unobservable Input Position Change in Input Impact on Fair Value Forward Market Price Buy Increase (Decrease) Higher (Lower) Forward Market Price Sell Increase (Decrease) Lower (Higher) |
Income Taxes
Income Taxes | 6 Months Ended |
Jun. 30, 2023 | |
Income Taxes | INCOME TAXES The disclosures in this note apply to all Registrants unless indicated otherwise. Effective Tax Rates (ETR) The Registrants’ interim ETR reflect the estimated annual ETR for 2023 and 2022, adjusted for tax expense associated with certain discrete items. The Registrants include the amortization of Excess ADIT not subject to normalization requirements in the annual estimated ETR when regulatory proceedings instruct the Registrants to provide the benefits of Tax Reform to customers over multiple interim periods. Certain regulatory proceedings instruct the Registrants to provide the benefits of Tax Reform to customers in a single period (e.g. by applying the Excess ADIT not subject to normalization requirements against an existing regulatory asset balance) and in these circumstances, the Registrants recognize the tax benefit discretely in the period recorded. The annual amount of Excess ADIT approved by the Registrant’s regulatory commissions may not impact the ETR ratably during each interim period due to the variability of pretax book income between interim periods and the application of an annual estimated ETR. The ETR for each of the Registrants are included in the following tables: Three Months Ended June 30, 2023 AEP AEP Texas AEPTCo APCo I&M OPCo PSO SWEPCo U.S. Federal Statutory Rate 21.0 % 21.0 % 21.0 % 21.0 % 21.0 % 21.0 % 21.0 % 21.0 % Increase (decrease) due to: State Income Tax, net of Federal Benefit 2.1 % 0.6 % 2.6 % 3.2 % 0.7 % 0.8 % 2.0 % (1.6) % Tax Reform Excess ADIT Reversal (6.2) % (1.3) % 0.1 % (4.5) % (6.1) % (8.5) % (17.2) % (4.2) % Production and Investment Tax Credits (9.9) % (0.2) % — % (0.1) % 0.1 % — % (55.1) % (29.2) % Flow Through (1.0) % 0.1 % 0.2 % (5.1) % (4.4) % 1.2 % 0.3 % (0.8) % AFUDC Equity (1.2) % (0.9) % (2.1) % (1.5) % (0.1) % (0.7) % (1.4) % — % Other 0.4 % 0.3 % — % (0.4) % 0.1 % 0.1 % — % 0.7 % Effective Income Tax Rate 5.2 % 19.6 % 21.8 % 12.6 % 11.3 % 13.9 % (50.4) % (14.1) % Three Months Ended June 30, 2022 AEP AEP Texas AEPTCo APCo I&M OPCo PSO SWEPCo U.S. Federal Statutory Rate 21.0 % 21.0 % 21.0 % 21.0 % 21.0 % 21.0 % 21.0 % 21.0 % Increase (decrease) due to: State Income Tax, net of Federal Benefit 1.3 % 0.7 % 2.9 % (1.0) % (1.3) % 1.0 % 3.9 % 2.5 % Tax Reform Excess ADIT Reversal (7.1) % (2.1) % 0.3 % (20.4) % (17.2) % (7.8) % (19.2) % (5.2) % Production and Investment Tax Credits (6.1) % (0.6) % — % — % (3.4) % — % (32.2) % (19.8) % Flow Through (0.1) % 0.2 % 0.4 % (1.4) % (1.2) % 0.2 % 0.3 % — % AFUDC Equity (1.1) % (1.4) % (2.3) % (1.5) % (1.3) % (0.7) % (0.4) % (0.5) % Discrete Tax Adjustments 0.3 % — % — % (6.0) % — % — % — % 0.8 % Other 1.1 % 0.1 % 0.1 % (0.2) % 1.3 % 0.1 % 0.5 % (0.1) % Effective Income Tax Rate 9.3 % 17.9 % 22.4 % (9.5) % (2.1) % 13.8 % (26.1) % (1.3) % Six Months Ended June 30, 2023 AEP AEP Texas AEPTCo APCo I&M OPCo PSO SWEPCo U.S. Federal Statutory Rate 21.0 % 21.0 % 21.0 % 21.0 % 21.0 % 21.0 % 21.0 % 21.0 % Increase (decrease) due to: State Income Tax, net of Federal Benefit 2.0 % 0.5 % 2.6 % 2.6 % 2.4 % 0.9 % 2.0 % (1.2) % Tax Reform Excess ADIT Reversal (6.2) % (1.4) % 0.2 % (4.5) % (7.2) % (7.6) % (17.1) % (4.0) % Production and Investment Tax Credits (9.8) % (0.2) % — % (0.1) % (0.6) % — % (55.2) % (28.2) % Flow Through (0.5) % 0.2 % 0.2 % (0.8) % (2.9) % 0.8 % 0.3 % (0.3) % AFUDC Equity (1.3) % (1.1) % (1.8) % (0.9) % (0.3) % (0.8) % (1.4) % (0.3) % Discrete Tax Adjustments (1.4) % — % — % 2.4 % 1.0 % — % — % — % Other 0.3 % 0.2 % — % (0.1) % 0.1 % 0.1 % 0.1 % 0.1 % Effective Income Tax Rate 4.1 % 19.2 % 22.2 % 19.6 % 13.5 % 14.4 % (50.3) % (12.9) % Six Months Ended June 30, 2022 AEP AEP Texas AEPTCo APCo I&M OPCo PSO SWEPCo U.S. Federal Statutory Rate 21.0 % 21.0 % 21.0 % 21.0 % 21.0 % 21.0 % 21.0 % 21.0 % Increase (decrease) due to: State Income Tax, net of Federal Benefit 1.4 % 0.5 % 2.7 % 1.5 % 0.4 % 0.9 % 3.5 % 2.4 % Tax Reform Excess ADIT Reversal (6.8) % (2.0) % 0.3 % (11.0) % (17.2) % (7.8) % (18.6) % (5.1) % Production and Investment Tax Credits (7.1) % (0.4) % — % — % (2.3) % — % (31.4) % (20.8) % Flow Through 0.1 % 0.2 % 0.3 % 0.6 % (1.6) % 0.6 % 0.3 % (0.2) % AFUDC Equity (1.0) % (1.1) % (1.9) % (1.0) % (0.9) % (0.6) % (0.5) % (0.5) % Discrete Tax Adjustments (0.2) % — % — % (2.6) % — % — % — % 0.5 % Other 0.5 % (0.1) % 0.2 % — % 0.4 % (0.1) % 0.3 % — % Effective Income Tax Rate 7.9 % 18.1 % 22.6 % 8.5 % (0.2) % 14.0 % (25.4) % (2.7) % Federal and State Income Tax Audit Status The statute of limitations for the IRS to examine AEP and subsidiaries originally filed federal return has expired for tax years 2016 and earlier. AEP has agreed to extend the statute of limitations on the 2017-2019 tax returns to October 31, 2024, to allow time for the current IRS audit to be completed including a refund claim approval by the Congressional Joint Committee on Taxation. The statute of limitations for the 2020 return is set to naturally expire in October 2024 as well. The current IRS audit and associated refund claim evolved from a net operating loss carryback to 2015 that originated in the 2017 return. AEP has received and agreed to two IRS proposed adjustments on the 2017 tax return, which were immaterial. The exam is nearly complete, and AEP is currently working with the IRS to submit the refund claim to the Congressional Joint Committee on Taxation for resolution and final approval. AEP and subsidiaries file income tax returns in various state and local jurisdictions. These taxing authorities routinely examine the tax returns, and AEP and subsidiaries are currently under examination in several state and local jurisdictions. Generally, the statutes of limitations have expired for tax years prior to 2017. In addition, management is monitoring and continues to evaluate the potential impact of federal legislation and corresponding state conformity. Federal Legislation In August 2022, President Biden signed H.R. 5376 into law, commonly known as the Inflation Reduction Act of 2022 or IRA. Most notably this budget reconciliation legislation creates a 15% minimum tax on adjusted financial statement income (Corporate Alternative Minimum Tax or CAMT), extends and increases the value of PTCs and ITCs, adds a nuclear and clean hydrogen PTC, an energy storage ITC and allows the sale or transfer of tax credits to third parties for cash. As further significant guidance from Treasury and the IRS is expected on the tax provisions in the IRA, AEP will continue to monitor any issued guidance and evaluate the impact on future net income, cash flows and financial condition. In December 2022, the IRS released Notice 2023-7 addressing time sensitive issues related to the CAMT. The notice provided initial guidance that AEP can begin to rely on in 2023 and also stated that additional guidance is expected, of which AEP will continue to monitor and assess. Notably, the interim guidance in Notice 2023-7 confirmed the CAMT depreciation adjustment includes tax depreciation that is capitalized to inventory under §263A and recovered as part of cost of goods sold, providing significant relief to AEP’s potential CAMT exposure. AEP and subsidiaries expect to be applicable corporations for purposes of the CAMT beginning in 2023. CAMT cash taxes are expected to be partially offset by regulatory recovery, the utilization of tax credits and additionally the cash inflow generated by the sale of tax credits. The sale of tax credits will be presented in the operating section of the statements of cash flows consistent with the presentation of cash taxes paid. AEP will present the gain or loss on sale of tax credits through income tax expense. |
Financing Activities
Financing Activities | 6 Months Ended |
Jun. 30, 2023 | |
Financing Activities | FINANCING ACTIVITIES The disclosures in this note apply to all Registrants, unless indicated otherwise. Common Stock (Applies to AEP) At-the-Market (ATM) Program In 2020, AEP filed a prospectus supplement and executed an Equity Distribution Agreement, pursuant to which AEP may sell, from time to time, up to an aggregate of $1 billion of its common stock through an ATM offering program, including an equity forward sales component. The compensation paid to the selling agents by AEP may be up to 2% of the gross offering proceeds of the shares. There were no issuances under the ATM program for the six months ended June 30, 2023. Long-term Debt Outstanding (Applies to AEP) The following table details long-term debt outstanding, net of issuance costs and premiums or discounts: Type of Debt June 30, 2023 December 31, 2022 (in millions) Senior Unsecured Notes $ 33,491.5 $ 30,174.8 Pollution Control Bonds 1,770.9 1,770.2 Notes Payable 165.8 269.7 Securitization Bonds 432.1 487.8 Spent Nuclear Fuel Obligation (a) 292.3 285.6 Junior Subordinated Notes (b) 2,385.0 2,381.3 Other Long-term Debt 1,604.7 1,431.6 Total Long-term Debt Outstanding 40,142.3 36,801.0 Long-term Debt Due Within One Year 3,380.3 2,486.4 Long-term Debt $ 36,762.0 $ 34,314.6 (a) Pursuant to the Nuclear Waste Policy Act of 1982, I&M, a nuclear licensee, has an obligation to the United States Department of Energy for SNF disposal. The obligation includes a one-time fee for nuclear fuel consumed prior to April 7, 1983. Trust fund assets related to this obligation were $341 million and $330 million as of June 30, 2023 and December 31, 2022, respectively, and are included in Spent Nuclear Fuel and Decommissioning Trusts on the balance sheets. (b) See “Equity Units” section below for additional information. Long-term Debt Activity Long-term debt and other securities issued, retired and principal payments made during the first six months of 2023 are shown in the following tables: Principal Interest Company Type of Debt Amount (a) Rate Due Date Issuances: (in millions) (%) AEP Senior Unsecured Notes $ 850.0 5.63 2033 AEPTCo Senior Unsecured Notes 700.0 5.40 2053 AEP Texas Senior Unsecured Notes 450.0 5.40 2033 APCo Other Long-term Debt 200.0 Variable 2024 I&M Senior Unsecured Notes 500.0 5.63 2053 OPCo Senior Unsecured Notes 400.0 5.00 2033 PSO Senior Unsecured Notes 475.0 5.25 2033 SWEPCo Senior Unsecured Notes 350.0 5.30 2033 Non-Registrant: KPCo Pollution Control Bonds 65.0 4.70 2026 Transource Energy Other Long-term Debt 13.0 Variable 2025 Total Issuances $ 4,003.0 (a) Amounts indicated on the statements of cash flows are net of issuance costs and premium or discount and will not tie to the issuance amounts. Principal Interest Company Type of Debt Amount Paid Rate Due Date Retirements and Principal Payments: (in millions) (%) AEP Texas Senior Unsecured Notes $ 125.0 3.09 2023 AEP Texas Securitization Bonds 31.5 2.85 2024 AEP Texas Securitization Bonds 11.7 2.06 2025 APCo Securitization Bonds 9.7 2.01 2023 APCo Securitization Bonds 3.3 3.77 2028 I&M Senior Unsecured Notes 250.0 3.20 2023 I&M Notes Payable 1.2 Variable 2023 I&M Notes Payable 2.4 Variable 2024 I&M Notes Payable 9.2 Variable 2025 I&M Notes Payable 7.9 0.93 2025 I&M Notes Payable 13.7 3.44 2026 I&M Notes Payable 13.6 5.93 2027 I&M Other Long-term Debt 1.2 6.00 2025 OPCo Other Long-term Debt 0.6 1.15 2028 PSO Other Long-term Debt 0.3 3.00 2027 SWEPCo Notes Payable 25.0 6.37 2024 SWEPCo Notes Payable 30.9 4.58 2032 SWEPCo Other Long-term Debt 38.2 4.68 2028 Non-Registrant: KPCo Pollution Control Bonds 65.0 2.35 2023 Transource Energy Senior Unsecured Notes 1.3 2.75 2050 Total Retirements and Principal Payments $ 641.7 Long-term Debt Subsequent Event In July 2023, I&M retired $8 million of Notes Payable related to DCC Fuel. Equity Units (Applies to AEP) 2020 Equity Units In August 2020, AEP issued 17 million Equity Units initially in the form of corporate units, at a stated amount of $50 per unit, for a total stated amount of $850 million. Net proceeds from the issuance were approximately $833 million. The proceeds were used to support AEP’s overall capital expenditure plans. Each corporate unit represents a 1/20 undivided beneficial ownership interest in $1,000 principal amount of AEP’s 1.30% Junior Subordinated Notes due in 2025 and a forward equity purchase contract which settles after three years in August 2023. In June 2023, AEP successfully remarketed the Junior Subordinated Notes on behalf of holders of the corporate units. AEP did not receive any proceeds from the remarketing which were used to purchase a portfolio of treasury securities maturing on August 14, 2023. On August 15, 2023, the proceeds from the maturing treasury portfolio, currently held by the collateral agent, will be used to settle the forward equity purchase contract entered into as part of the Equity Units transaction. The interest rate on the Junior Subordinated Notes was reset to 5.699% with the maturity remaining in 2025. Each forward equity purchase contract obligates the holder to purchase, and AEP to sell, for $50 a number of shares in common stock in accordance with the conversion ratios set forth below (subject to an anti-dilution adjustment): • If the AEP common stock market price is equal to or greater than $99.95: 0.5003 shares per contract. • If the AEP common stock market price is less than $99.95 but greater than $83.29: a number of shares per contract equal to $50 divided by the applicable market price. The holder receives a variable number of shares at $50. • If the AEP common stock market price is less than or equal to $83.29: 0.6003 shares per contract. At the time of issuance, the $850 million of notes were recorded within Long-term Debt on the balance sheets. The present value of the purchase contract payments of $121 million were recorded in Deferred Credits and Other Noncurrent Liabilities with a current portion in Other Current Liabilities at the time of issuance, representing the obligation to make forward equity contract payments, with an offsetting reduction to Paid-in Capital. The difference between the face value and present value of the purchase contract payments will be accreted to Interest Expense on the statements of income over the three year period ending in 2023. The liability recorded for the contract payments is considered non-cash and excluded from the statements of cash flows. Until settlement of the forward equity purchase contract, earnings per share dilution resulting from the equity unit issuance will be determined under the treasury stock method. The maximum amount of shares AEP will be required to issue to settle the purchase contract is 10,205,100 shares (subject to an anti-dilution adjustment). Debt Covenants (Applies to AEP and AEPTCo) Covenants in AEPTCo’s note purchase agreements and indenture limit the amount of contractually-defined priority debt (which includes a further sub-limit of $50 million of secured debt) to 10% of consolidated tangible net assets. AEPTCo’s contractually-defined priority debt was 0.6% of consolidated tangible net assets as of June 30, 2023. The method for calculating the consolidated tangible net assets is contractually-defined in the note purchase agreements. Dividend Restrictions Utility Subsidiaries’ Restrictions Parent depends on its utility subsidiaries to pay dividends to shareholders. AEP utility subsidiaries pay dividends to Parent provided funds are legally available. Various financing arrangements and regulatory requirements may impose certain restrictions on the ability of the subsidiaries to transfer funds to Parent in the form of dividends. All of the dividends declared by AEP’s utility subsidiaries that provide transmission or local distribution services are subject to a Federal Power Act requirement that prohibits the payment of dividends out of capital accounts in certain circumstances; payment of dividends is generally allowed out of retained earnings. The Federal Power Act also creates a reserve on earnings attributable to hydroelectric generation plants. Because of their ownership of such plants, this reserve applies to APCo and I&M. Certain AEP subsidiaries have credit agreements that contain covenants that limit their debt to capitalization ratio to 67.5%. The method for calculating outstanding debt and capitalization is contractually-defined in the credit agreements. The Federal Power Act restriction does not limit the ability of the AEP subsidiaries to pay dividends out of retained earnings. Parent Restrictions (Applies to AEP) The holders of AEP’s common stock are entitled to receive the dividends declared by the Board of Directors provided funds are legally available for such dividends. Parent’s income primarily derives from common stock equity in the earnings of its utility subsidiaries. Pursuant to the leverage restrictions in credit agreements, AEP must maintain a percentage of debt to total capitalization at a level that does not exceed 67.5%. The method for calculating outstanding debt and capitalization is contractually-defined in the credit agreements. Corporate Borrowing Program - AEP System (Applies to all Registrant Subsidiaries) The AEP System uses a corporate borrowing program to meet the short-term borrowing needs of AEP’s subsidiaries. The corporate borrowing program includes a Utility Money Pool, which funds AEP’s utility subsidiaries; a Nonutility Money Pool, which funds certain AEP nonutility subsidiaries; and direct borrowing from AEP. The AEP System Utility Money Pool operates in accordance with the terms and conditions of its agreement filed with the FERC. The amounts of outstanding loans to (borrowings from) the Utility Money Pool as of June 30, 2023 and December 31, 2022 are included in Advances to Affiliates and Advances from Affiliates, respectively, on the Registrant Subsidiaries’ balance sheets. The Utility Money Pool participants’ activity and corresponding authorized borrowing limits for the six months ended June 30, 2023 are described in the following table: Maximum Average Net Loans to Borrowings Maximum Borrowings Average (Borrowings from) Authorized from the Loans to the from the Loans to the the Utility Money Short-term Utility Utility Utility Utility Pool as of Borrowing Company Money Pool Money Pool Money Pool Money Pool June 30, 2023 Limit (in millions) AEP Texas $ 477.5 $ — $ 279.9 $ — $ (135.9) $ 500.0 AEPTCo 471.3 309.4 153.1 85.9 26.9 820.0 (a) APCo 388.6 19.8 295.0 18.9 (247.2) 500.0 I&M 475.3 100.3 174.0 43.0 40.5 500.0 OPCo 485.7 64.7 266.4 40.2 (72.3) 500.0 PSO 375.0 121.5 127.5 74.8 (68.1) 400.0 SWEPCo 401.6 (b) — 220.6 — (32.6) 400.0 (a) Amount represents the combined authorized short-term borrowing limit the State Transcos have from FERC or state regulatory commissions. (b) SWEPCo’s maximum borrowings from the Utility Money Pool exceeded the authorized short-term borrowing limit by $1.6 million on March 15, 2023. On March 16, 2023, SWEPCo’s borrowings from the Utility Money Pool were reduced below the $400 million authorized limit and borrowings have continued to remain below the authorized limit. The activity in the above table does not include short-term lending activity of certain AEP nonutility subsidiaries. AEP Texas’ wholly-owned subsidiary, AEP Texas North Generation Company, LLC and SWEPCo’s wholly-owned subsidiary, Mutual Energy SWEPCo, LLC participate in the Nonutility Money Pool. The amounts of outstanding loans to the Nonutility Money Pool as of June 30, 2023 and December 31, 2022 are included in Advances to Affiliates on the subsidiaries’ balance sheets. The Nonutility Money Pool participants’ activity for the six months ended June 30, 2023 is described in the following table: Maximum Loans Average Loans Loans to the Nonutility to the Nonutility to the Nonutility Money Pool as of Company Money Pool Money Pool June 30, 2023 (in millions) AEP Texas $ 6.9 $ 6.8 $ 6.9 SWEPCo 2.2 2.1 2.2 AEP has a direct financing relationship with AEPTCo to meet its short-term borrowing needs. The amounts of outstanding loans to and borrowings from AEP as of June 30, 2023 and December 31, 2022 are included in Advances to Affiliates and Advances from Affiliates, respectively, on AEPTCo’s balance sheets. AEPTCo’s direct borrowing and lending activity with AEP and corresponding authorized borrowing limit for the six months ended June 30, 2023 are described in the following table: Maximum Maximum Average Average Borrowings from Loans to Authorized Borrowings Loans Borrowings Loans AEP as of AEP as of Short-term from AEP to AEP from AEP to AEP June 30, 2023 June 30, 2023 Borrowing Limit (in millions) $ 29.4 $ 158.1 $ 2.9 $ 70.2 $ 21.9 $ — $ 50.0 (a) (a) Amount represents the combined authorized short-term borrowing limit the State Transcos have from FERC or state regulatory commissions. The maximum and minimum interest rates for funds either borrowed from or loaned to the Utility Money Pool are summarized in the following table: Six Months Ended June 30, 2023 2022 Maximum Interest Rate 5.69 % 2.11 % Minimum Interest Rate 4.66 % 0.10 % The average interest rates for funds borrowed from and loaned to the Utility Money Pool are summarized for all Registrant Subsidiaries in the following table: Average Interest Rate for Funds Average Interest Rate for Funds Borrowed from the Utility Money Pool Loaned to the Utility Money Pool for Six Months Ended June 30, for Six Months Ended June 30, Company 2023 2022 2023 2022 AEP Texas 5.35 % 0.90 % — % 1.48 % AEPTCo 5.16 % 0.93 % 5.46 % 1.49 % APCo 5.36 % 1.08 % 5.35 % 0.95 % I&M 5.13 % 0.92 % 5.42 % 0.96 % OPCo 5.30 % 0.83 % 5.60 % 1.20 % PSO 5.47 % 1.17 % 5.11 % 0.65 % SWEPCo 5.22 % 1.25 % — % 0.55 % Maximum, minimum and average interest rates for funds loaned to the Nonutility Money Pool are summarized in the following table: Six Months Ended June 30, 2023 Six Months Ended June 30, 2022 Maximum Minimum Average Maximum Minimum Average Interest Rate Interest Rate Interest Rate Interest Rate Interest Rate Interest Rate for Funds for Funds for Funds for Funds for Funds for Funds Loaned to Loaned to Loaned to Loaned to Loaned to Loaned to the Nonutility the Nonutility the Nonutility the Nonutility the Nonutility the Nonutility Company Money Pool Money Pool Money Pool Money Pool Money Pool Money Pool AEP Texas 5.69 % 4.66 % 5.35 % 2.11 % 0.46 % 0.98 % SWEPCo 5.69 % 4.66 % 5.35 % 2.11 % 0.46 % 0.98 % AEPTCo’s maximum, minimum and average interest rates for funds either borrowed from or loaned to AEP are summarized in the following table: Maximum Minimum Maximum Minimum Average Average Interest Rate Interest Rate Interest Rate Interest Rate Interest Rate Interest Rate Six Months for Funds for Funds for Funds for Funds for Funds for Funds Ended Borrowed Borrowed Loaned Loaned Borrowed Loaned June 30, from AEP from AEP to AEP to AEP from AEP to AEP 2023 5.69 % 4.53 % 5.69 % 4.53 % 5.27 % 5.35 % 2022 2.11 % 0.46 % 2.11 % 0.46 % 1.02 % 0.89 % Short-term Debt (Applies to AEP and SWEPCo) Outstanding short-term debt was as follows: June 30, 2023 December 31, 2022 Outstanding Interest Outstanding Interest Company Type of Debt Amount Rate (a) Amount Rate (a) (dollars in millions) AEP Securitized Debt for Receivables (b) $ 750.0 5.45 % $ 750.0 4.67 % AEP Commercial Paper 2,238.7 5.50 % 2,862.2 4.80 % AEP Term Loan 500.0 6.08 % — — % AEP Term Loan 150.0 5.94 % 150.0 5.17 % AEP Term Loan 125.0 5.94 % 125.0 5.17 % AEP Term Loan 100.0 5.94 % 100.0 5.23 % AEP Term Loan — — % 125.0 4.87 % SWEPCo Notes Payable 3.9 7.53 % — — % AEP Total Short-term Debt $ 3,867.6 $ 4,112.2 (a) Weighted-average rate as of June 30, 2023 and December 31, 2022, respectively. (b) Amount of securitized debt for receivables as accounted for under the “Transfers and Servicing” accounting guidance. Credit Facilities For a discussion of credit facilities, see “Letters of Credit” section of Note 5. Securitized Accounts Receivables – AEP Credit (Applies to AEP) AEP Credit has a receivables securitization agreement with bank conduits. Under the securitization agreement, AEP Credit receives financing from the bank conduits for the interest in the receivables AEP Credit acquires from affiliated utility subsidiaries. These securitized transactions allow AEP Credit to repay its outstanding debt obligations, continue to purchase the operating companies’ receivables and accelerate AEP Credit’s cash collections. AEP Credit’s receivables securitization agreement provides a commitment of $750 million from bank conduits to purchase receivables and includes a $125 million and a $625 million facility, both of which expire in September 2024. As of June 30, 2023, the affiliated utility subsidiaries were in compliance with all requirements under the agreement. Accounts receivable information for AEP Credit was as follows: Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 (dollars in millions) Effective Interest Rates on Securitization of Accounts Receivable 5.25 % 0.91 % 5.06 % 0.61 % Net Uncollectible Accounts Receivable Written-Off $ 7.3 $ 6.2 $ 14.1 $ 13.6 June 30, 2023 December 31, 2022 (in millions) Accounts Receivable Retained Interest and Pledged as Collateral Less Uncollectible Accounts $ 1,184.9 $ 1,167.7 Short-term – Securitized Debt of Receivables 750.0 750.0 Delinquent Securitized Accounts Receivable 49.4 44.2 Bad Debt Reserves Related to Securitization 41.7 39.7 Unbilled Receivables Related to Securitization 392.4 360.9 AEP Credit’s delinquent customer accounts receivable represent accounts greater than 30 days past due. Securitized Accounts Receivables – AEP Credit (Applies to all Registrant Subsidiaries except AEP Texas and AEPTCo) Under this sale of receivables arrangement, the Registrant Subsidiaries sell, without recourse, certain of their customer accounts receivable and accrued unbilled revenue balances to AEP Credit and are charged a fee based on AEP Credit’s financing costs, administrative costs and uncollectible accounts experience for each Registrant Subsidiary’s receivables. APCo does not have regulatory authority to sell its West Virginia accounts receivable. KPCo ceased selling accounts receivable to AEP Credit in the first quarter of 2022, based on the expected sale to Liberty. As a result, in the first quarter of 2022, KPCo recorded an allowance for uncollectible accounts on its balance sheet for those receivables no longer sold to AEP Credit. The costs of customer accounts receivable sold are reported in Other Operation expense on the Registrant Subsidiaries’ statements of income. The Registrant Subsidiaries manage and service their customer accounts receivable, which are sold to AEP Credit. AEP Credit securitizes the eligible receivables for the operating companies and retains the remainder. The amount of accounts receivable and accrued unbilled revenues under the sale of receivables agreements were: Company June 30, 2023 December 31, 2022 (in millions) APCo $ 181.9 $ 194.4 I&M 177.3 166.9 OPCo 477.4 478.6 PSO 177.8 155.5 SWEPCo 191.6 194.0 The fees paid to AEP Credit for customer accounts receivable sold were: Three Months Ended June 30, Six Months Ended June 30, Company 2023 2022 2023 2022 (in millions) APCo $ 4.3 $ 1.5 $ 9.2 $ 2.8 I&M 3.9 2.0 7.8 3.7 OPCo 7.6 7.5 14.9 14.9 PSO 3.5 1.3 6.7 2.2 SWEPCo 4.4 1.5 8.7 2.8 The proceeds on the sale of receivables to AEP Credit were: Three Months Ended June 30, Six Months Ended June 30, Company 2023 2022 2023 2022 (in millions) APCo $ 414.9 $ 339.0 $ 921.1 $ 754.5 I&M 497.2 502.4 1,022.6 1,015.8 OPCo 783.9 693.3 1,668.3 1,409.9 PSO 460.2 428.5 876.5 791.9 SWEPCo 460.5 437.2 898.1 831.7 |
Variable Interest Entities
Variable Interest Entities | 6 Months Ended |
Jun. 30, 2023 | |
Variable Interest Entities | VARIABLE INTEREST ENTITIES The disclosures in this note apply to AEP unless indicated otherwise. The accounting guidance for “Variable Interest Entities” is a consolidation model that considers if a company has a variable interest in a VIE. A VIE is a legal entity that possesses any of the following conditions: the entity’s equity at risk is not sufficient to permit the legal entity to finance its activities without additional subordinated financial support, equity owners are unable to direct the activities that most significantly impact the legal entity’s economic performance (or they possess disproportionate voting rights in relation to the economic interest in the legal entity), or the equity owners lack the obligation to absorb the legal entity’s expected losses or the right to receive the legal entity’s expected residual returns. Entities are required to consolidate a VIE when it is determined that they have a controlling financial interest in a VIE and therefore, are the primary beneficiary of that VIE, as defined by the accounting guidance for “Variable Interest Entities.” In determining whether AEP is the primary beneficiary of a VIE, management considers whether AEP has the power to direct the most significant activities of the VIE and is obligated to absorb losses or receive the expected residual returns that are significant to the VIE. AEP holds ownership interests in businesses with varying ownership structures. AEP has not provided material financial or other support that was not previously contractually required to any of its consolidated VIEs. If an entity is determined not to be a VIE, or if the entity is determined to be a VIE and AEP is not deemed to be the primary beneficiary, the entity is accounted for under the equity method of accounting. Consolidated Variable Interests Entities The Annual Report on Form 10-K for the year ended December 31, 2022 includes a detailed discussion of the Registrants’ consolidated VIEs. There were no reconsideration events with respect to those VIEs in the second quarter of 2023. The balances below represent the assets and liabilities of consolidated VIEs. These balances include intercompany transactions that are eliminated upon consolidation. American Electric Power Company, Inc. and Subsidiary Companies Variable Interest Entities June 30, 2023 Registrant Subsidiaries SWEPCo I&M AEP Texas Transition Funding AEP Texas Restoration Funding APCo (in millions) ASSETS Current Assets $ 5.8 $ 72.5 $ 26.9 $ 25.4 $ 13.3 Net Property, Plant and Equipment — 129.3 — — — Other Noncurrent Assets 129.7 63.6 109.5 (a) 157.2 (b) 151.8 (c) Total Assets $ 135.5 $ 265.4 $ 136.4 $ 182.6 $ 165.1 LIABILITIES AND EQUITY Current Liabilities $ 19.8 $ 72.4 $ 74.5 $ 36.7 $ 29.6 Noncurrent Liabilities 115.6 193.0 57.5 144.7 133.6 Equity 0.1 — 4.4 1.2 1.9 Total Liabilities and Equity $ 135.5 $ 265.4 $ 136.4 $ 182.6 $ 165.1 (a) Includes an intercompany item eliminated in consolidation of $12 million. (b) Includes an intercompany item eliminated in consolidation of $7 million. (c) Includes an intercompany item eliminated in consolidation of $2 million . American Electric Power Company, Inc. and Subsidiary Companies Variable Interest Entities June 30, 2023 Other Consolidated VIEs AEP Credit Protected Transource Energy (in millions) ASSETS Current Assets $ 1,186.0 $ 195.1 $ 29.3 Net Property, Plant and Equipment — — 496.6 Other Noncurrent Assets 9.4 — 5.3 Total Assets $ 1,195.4 $ 195.1 $ 531.2 LIABILITIES AND EQUITY Current Liabilities $ 1,132.8 $ 39.7 $ 21.1 Noncurrent Liabilities 0.9 81.9 232.0 Equity 61.7 73.5 278.1 Total Liabilities and Equity $ 1,195.4 $ 195.1 $ 531.2 Apple Blossom, Black Oak, Santa Rita East and Dry Lake are consolidated VIEs included in the plan of sale of the Competitive Contracted Renewables Portfolio. See the “Planned Disposition of the Competitive Contracted Renewables Portfolio” section of Note 6 for the assets and liabilities classified Held for Sale as of June 30, 2023 inclusive of the assets and liabilities of the aforementioned consolidated VIEs. American Electric Power Company, Inc. and Subsidiary Companies Variable Interest Entities December 31, 2022 Registrant Subsidiaries SWEPCo I&M AEP Texas Transition Funding AEP Texas Restoration Funding APCo (in millions) ASSETS Current Assets $ 108.3 $ 90.2 $ 27.0 $ 21.1 $ 13.5 Net Property, Plant and Equipment 7.2 179.1 — — — Other Noncurrent Assets 130.0 94.0 140.9 (a) 168.8 (b) 164.6 (c) Total Assets $ 245.5 $ 363.3 $ 167.9 $ 189.9 $ 178.1 LIABILITIES AND EQUITY Current Liabilities $ 25.4 $ 90.0 $ 73.2 $ 31.3 $ 29.3 Noncurrent Liabilities 219.4 273.3 90.4 157.4 146.9 Equity 0.7 — 4.3 1.2 1.9 Total Liabilities and Equity $ 245.5 $ 363.3 $ 167.9 $ 189.9 $ 178.1 (a) Includes an intercompany item eliminated in consolidation of $16 million . (b) Includes an intercompany item eliminated in consolidation of $7 million . (c) Includes an intercompany item eliminated in consolidation of $2 million . American Electric Power Company, Inc. and Subsidiary Companies Variable Interest Entities December 31, 2022 Other Consolidated VIEs AEP Credit Protected Transource Energy Apple Blossom and Black Oak Santa Rita East Dry Lake (in millions) ASSETS Current Assets $ 1,181.0 $ 194.5 $ 23.5 $ 8.3 $ 21.3 $ 4.0 Net Property, Plant and Equipment — — 482.3 216.5 421.6 142.6 Other Noncurrent Assets 9.0 0.3 2.7 13.6 0.1 0.3 Total Assets $ 1,190.0 $ 194.8 $ 508.5 $ 238.4 $ 443.0 $ 146.9 LIABILITIES AND EQUITY Current Liabilities $ 1,087.8 $ 46.4 $ 22.8 $ 4.5 $ 9.6 $ 1.0 Noncurrent Liabilities 0.9 79.1 218.6 5.4 7.3 0.7 Equity 101.3 69.3 267.1 228.5 426.1 145.2 Total Liabilities and Equity $ 1,190.0 $ 194.8 $ 508.5 $ 238.4 $ 443.0 $ 146.9 Significant Variable Interests in Non-Consolidated VIEs and Significant Equity Method Investments The Annual Report on Form 10-K for the year ended December 31, 2022 includes a detailed discussion of significant variable interests in non-consolidated VIEs and other significant equity method investments. There were no reconsideration events or material changes in carrying values as of June 30, 2023. |
Revenue from Contracts with Cus
Revenue from Contracts with Customers | 6 Months Ended |
Jun. 30, 2023 | |
Revenue from Contract with Customer | REVENUE FROM CONTRACTS WITH CUSTOMERS The disclosures in this note apply to all Registrants, unless indicated otherwise. Disaggregated Revenues from Contracts with Customers The tables below represent AEP’s reportable segment revenues from contracts with customers, net of respective provisions for refund, by type of revenue: Three Months Ended June 30, 2023 Vertically Integrated Utilities Transmission and Distribution Utilities AEP Transmission Holdco Generation & Marketing Corporate and Other Reconciling Adjustments AEP Consolidated (in millions) Retail Revenues: Residential Revenues $ 962.0 $ 574.1 $ — $ — $ — $ — $ 1,536.1 Commercial Revenues 642.7 358.3 — — — — 1,001.0 Industrial Revenues 698.9 152.1 — — — (0.1) 850.9 Other Retail Revenues 58.9 12.3 — — — — 71.2 Total Retail Revenues 2,362.5 1,096.8 — — — (0.1) 3,459.2 Wholesale and Competitive Retail Revenues: Generation Revenues 141.4 — — 19.6 — 0.1 161.1 Transmission Revenues (a) 113.5 184.1 455.8 — — (402.8) 350.6 Renewable Generation Revenues (b) — — — 33.1 — (3.1) 30.0 Retail, Trading and Marketing Revenues (b) — — — 407.7 1.2 (10.1) 398.8 Total Wholesale and Competitive Retail Revenues 254.9 184.1 455.8 460.4 1.2 (415.9) 940.5 Other Revenues from Contracts with Customers (c) 61.9 56.1 4.3 6.2 28.6 (39.9) 117.2 Total Revenues from Contracts with Customers 2,679.3 1,337.0 460.1 466.6 29.8 (455.9) 4,516.9 Other Revenues: Alternative Revenue Programs (b) (d) (4.9) (2.9) (1.5) — — (6.3) (15.6) Other Revenues (b) (e) 0.1 6.1 — (135.2) 2.2 (2.0) (128.8) Total Other Revenues (4.8) 3.2 (1.5) (135.2) 2.2 (8.3) (144.4) Total Revenues $ 2,674.5 $ 1,340.2 $ 458.6 $ 331.4 $ 32.0 $ (464.2) $ 4,372.5 (a) Amounts include affiliated and nonaffiliated revenues. The affiliated revenue for AEP Transmission Holdco was $360 million. The remaining affiliated amounts were immaterial. (b) Amounts include affiliated and nonaffiliated revenues. (c) Amounts include affiliated and nonaffiliated revenues. The affiliated revenue for Corporate and Other was $26 million. The remaining affiliated amounts were immaterial. (d) Alternative revenue programs in certain jurisdictions include regulatory mechanisms that periodically adjust for over/under collection of related revenues. (e) Generation & Marketing includes economic hedge activity. Three Months Ended June 30, 2022 Vertically Integrated Utilities Transmission and Distribution Utilities AEP Transmission Holdco Generation & Marketing Corporate and Other Reconciling Adjustments AEP Consolidated (in millions) Retail Revenues: Residential Revenues $ 979.3 $ 561.6 $ — $ — $ — $ — $ 1,540.9 Commercial Revenues 624.8 331.7 — — — — 956.5 Industrial Revenues 641.8 162.5 — — — — 804.3 Other Retail Revenues 52.9 12.8 — — — — 65.7 Total Retail Revenues 2,298.8 1,068.6 — — — — 3,367.4 Wholesale and Competitive Retail Revenues: Generation Revenues 188.3 — — 83.0 — 0.1 271.4 Transmission Revenues (a) 108.8 164.9 421.6 — — (332.0) 363.3 Renewable Generation Revenues (b) — — — 38.2 — (2.9) 35.3 Retail, Trading and Marketing Revenues (b) — — — 408.3 1.3 (2.3) 407.3 Total Wholesale and Competitive Retail Revenues 297.1 164.9 421.6 529.5 1.3 (337.1) 1,077.3 Other Revenues from Contracts with Customers (c) 49.2 65.9 0.2 1.6 20.9 (21.1) 116.7 Total Revenues from Contracts with Customers 2,645.1 1,299.4 421.8 531.1 22.2 (358.2) 4,561.4 Other Revenues: Alternative Revenue Programs (b) (d) 3.3 (4.6) (43.0) — — (13.1) (57.4) Other Revenues (b) (e) 0.1 6.8 — 128.5 2.3 (2.0) 135.7 Total Other Revenues 3.4 2.2 (43.0) 128.5 2.3 (15.1) 78.3 Total Revenues $ 2,648.5 $ 1,301.6 $ 378.8 $ 659.6 $ 24.5 $ (373.3) $ 4,639.7 (a) Amounts include affiliated and nonaffiliated revenues. The affiliated revenue for AEP Transmission Holdco was $334 million. The remaining affiliated amounts were immaterial. (b) Amounts include affiliated and nonaffiliated revenues. (c) Amounts include affiliated and nonaffiliated revenues. The affiliated revenue for Vertically Integrated Utilities was $5 million. The remaining affiliated amounts were immaterial. (d) Alternative revenue programs in certain jurisdictions include regulatory mechanisms that periodically adjust for over/under collection of related revenues. (e) Generation & Marketing includes economic hedge activity. Three Months Ended June 30, 2023 AEP Texas AEPTCo APCo I&M OPCo PSO SWEPCo (in millions) Retail Revenues: Residential Revenues $ 144.9 $ — $ 324.8 $ 185.2 $ 429.3 $ 186.5 $ 185.1 Commercial Revenues 100.6 — 163.6 141.4 257.8 131.7 153.8 Industrial Revenues 35.2 — 192.5 155.9 116.8 107.8 110.6 Other Retail Revenues 8.7 — 25.2 1.2 3.6 28.3 2.6 Total Retail Revenues 289.4 — 706.1 483.7 807.5 454.3 452.1 Wholesale Revenues: Generation Revenues (a) — — 64.2 63.5 — 4.3 43.9 Transmission Revenues (b) 163.1 444.7 43.9 9.6 21.0 9.9 38.3 Total Wholesale Revenues 163.1 444.7 108.1 73.1 21.0 14.2 82.2 Other Revenues from Contracts with Customers (c) 10.7 4.1 11.8 45.0 45.5 7.2 7.0 Total Revenues from Contracts with Customers 463.2 448.8 826.0 601.8 874.0 475.7 541.3 Other Revenues: Alternative Revenue Programs (d) (e) (2.0) (3.9) 0.5 (2.6) (0.9) (1.0) (3.5) Other Revenues (e) — — — — 6.0 — — Total Other Revenues (2.0) (3.9) 0.5 (2.6) 5.1 (1.0) (3.5) Total Revenues $ 461.2 $ 444.9 $ 826.5 $ 599.2 $ 879.1 $ 474.7 $ 537.8 (a) Amounts include affiliated and nonaffiliated revenues. The affiliated revenue for APCo was $38 million primarily related to the PPA with KGPCo. (b) Amounts include affiliated and nonaffiliated revenues. The affiliated revenue for AEPTCo was $357 million. The remaining affiliated amounts were immaterial. (c) Amounts include affiliated and nonaffiliated revenues. The affiliated revenue for I&M was $17 million primarily related to barging, urea transloading and other transportation services. The remaining affiliated amounts were immaterial. (d) Alternative revenue programs in certain jurisdictions include regulatory mechanisms that periodically adjust for over/under collection of related revenues. (e) Amounts include affiliated and nonaffiliated revenues. Three Months Ended June 30, 2022 AEP Texas AEPTCo APCo I&M OPCo PSO SWEPCo (in millions) Retail Revenues: Residential Revenues $ 174.9 $ — $ 313.2 $ 195.2 $ 386.7 $ 185.2 $ 188.6 Commercial Revenues 110.6 — 152.6 138.6 221.1 121.2 146.0 Industrial Revenues 36.6 — 161.9 160.0 126.0 92.5 97.1 Other Retail Revenues 9.5 — 20.2 1.2 3.4 25.8 4.4 Total Retail Revenues 331.6 — 647.9 495.0 737.2 424.7 436.1 Wholesale Revenues: Generation Revenues (a) — — 63.5 94.2 — 0.3 57.4 Transmission Revenues (b) 143.8 406.1 40.8 8.7 21.1 9.1 39.3 Total Wholesale Revenues 143.8 406.1 104.3 102.9 21.1 9.4 96.7 Other Revenues from Contracts with Customers (c) 5.6 0.2 20.6 25.8 60.2 9.6 6.0 Total Revenues from Contracts with Customers 481.0 406.3 772.8 623.7 818.5 443.7 538.8 Other Revenues: Alternative Revenue Programs (d) (e) (2.2) (41.9) 0.8 7.3 (2.4) (0.8) (2.2) Other Revenues (e) — — — — 6.8 — — Total Other Revenues (2.2) (41.9) 0.8 7.3 4.4 (0.8) (2.2) Total Revenues $ 478.8 $ 364.4 $ 773.6 $ 631.0 $ 822.9 $ 442.9 $ 536.6 (a) Amounts include affiliated and nonaffiliated revenues. The affiliated revenue for APCo was $42 million primarily related to the PPA with KGPCo. (b) Amounts include affiliated and nonaffiliated revenues. The affiliated revenue for AEPTCo was $330 million. The remaining affiliated amounts were immaterial. (c) Amounts include affiliated and nonaffiliated revenues. The affiliated revenue for I&M was $19 million primarily related to barging, urea transloading and other transportation services. The remaining affiliated amounts were immaterial. (d) Alternative revenue programs in certain jurisdictions include regulatory mechanisms that periodically adjust for over/under collection of related revenues. (e) Amounts include affiliated and nonaffiliated revenues. Six Months Ended June 30, 2023 Vertically Integrated Utilities Transmission and Distribution Utilities AEP Transmission Holdco Generation & Marketing Corporate and Other Reconciling Adjustments AEP Consolidated (in millions) Retail Revenues: Residential Revenues $ 2,132.4 $ 1,230.9 $ — $ — $ — $ — $ 3,363.3 Commercial Revenues 1,276.1 734.2 — — — — 2,010.3 Industrial Revenues (a) 1,369.2 365.0 — — — (0.3) 1,733.9 Other Retail Revenues 115.7 24.4 — — — — 140.1 Total Retail Revenues 4,893.4 2,354.5 — — — (0.3) 7,247.6 Wholesale and Competitive Retail Revenues: Generation Revenues 324.2 — — 52.0 — 0.1 376.3 Transmission Revenues (b) 228.2 348.3 905.9 — — (804.6) 677.8 Renewable Generation Revenues (a) — — — 54.4 — (3.2) 51.2 Retail, Trading and Marketing Revenues (c) — — — 821.4 0.9 (10.0) 812.3 Total Wholesale and Competitive Retail Revenues 552.4 348.3 905.9 927.8 0.9 (817.7) 1,917.6 Other Revenues from Contracts with Customers (d) 94.5 98.9 7.9 6.8 58.0 (83.6) 182.5 Total Revenues from Contracts with Customers 5,540.3 2,801.7 913.8 934.6 58.9 (901.6) 9,347.7 Other Revenues: Alternative Revenue Programs (a) (e) (8.0) (14.5) 0.3 — — (3.4) (25.6) Other Revenues (a) (f) — 17.2 — (276.2) 3.2 (2.9) (258.7) Total Other Revenues (8.0) 2.7 0.3 (276.2) 3.2 (6.3) (284.3) Total Revenues $ 5,532.3 $ 2,804.4 $ 914.1 $ 658.4 $ 62.1 $ (907.9) $ 9,063.4 (a) Amounts include affiliated and nonaffiliated revenues. (b) Amounts include affiliated and nonaffiliated revenues. The affiliated revenue for AEP Transmission Holdco was $712 million. The affiliated revenue for Vertically Integrated Utilities was $80 million. The remaining affiliated amounts were immaterial. (c) Amounts include affiliated and nonaffiliated revenues. The affiliated revenue for Generation & Marketing was $10 million. The remaining affiliated amounts were immaterial. (d) Amounts include affiliated and nonaffiliated revenues. The affiliated revenue for Corporate and Other was $55 million. The remaining affiliated amounts were immaterial. (e) Alternative revenue programs in certain jurisdictions include regulatory mechanisms that periodically adjust for over/under collection of related revenues. (f) Generation & Marketing includes economic hedge activity. Six Months Ended June 30, 2022 Vertically Integrated Utilities Transmission and Distribution Utilities AEP Transmission Holdco Generation & Marketing Corporate and Other Reconciling Adjustments AEP Consolidated (in millions) Retail Revenues: Residential Revenues $ 2,130.1 $ 1,162.2 $ — $ — $ — $ — $ 3,292.3 Commercial Revenues 1,197.7 621.4 — — — — 1,819.1 Industrial Revenues 1,204.8 295.8 — — — (0.4) 1,500.2 Other Retail Revenues 100.3 24.4 — — — — 124.7 Total Retail Revenues 4,632.9 2,103.8 — — — (0.4) 6,736.3 Wholesale and Competitive Retail Revenues: Generation Revenues 375.5 — — 123.3 — 0.1 498.9 Transmission Revenues (a) 214.1 319.8 836.1 — — (693.8) 676.2 Renewable Generation Revenues (b) — — — 60.6 — (3.7) 56.9 Retail, Trading and Marketing Revenues (c) — — — 797.1 4.5 (11.3) 790.3 Total Wholesale and Competitive Retail Revenues 589.6 319.8 836.1 981.0 4.5 (708.7) 2,022.3 Other Revenues from Contracts with Customers (d) 110.8 119.7 — 10.2 34.8 (39.7) 235.8 Total Revenues from Contracts with Customers 5,333.3 2,543.3 836.1 991.2 39.3 (748.8) 8,994.4 Other Revenues: Alternative Revenue Programs (b) (e) 2.5 (8.0) (45.9) — — (11.8) (63.2) Other Revenues (b) (f) 0.1 13.1 — 287.7 5.1 (4.9) 301.1 Total Other Revenues 2.6 5.1 (45.9) 287.7 5.1 (16.7) 237.9 Total Revenues $ 5,335.9 $ 2,548.4 $ 790.2 $ 1,278.9 $ 44.4 $ (765.5) $ 9,232.3 (a) Amounts include affiliated and nonaffiliated revenues. The affiliated revenue for AEP Transmission Holdco was $661 million. The remaining affiliated amounts were immaterial. (b) Amounts include affiliated and nonaffiliated revenues. (c) Amounts include affiliated and nonaffiliated revenues. The affiliated revenue for Generation & Marketing was $11 million. The remaining affiliated amounts were immaterial. (d) Amounts include affiliated and nonaffiliated revenues. The affiliated revenue for Corporate and Other was $19 million. The remaining affiliated amounts were immaterial. (e) Alternative revenue programs in certain jurisdictions include regulatory mechanisms that periodically adjust for over/under collection of related revenues. (f) Generation & Marketing includes economic hedge activity. Six Months Ended June 30, 2023 AEP Texas AEPTCo APCo I&M OPCo PSO SWEPCo (in millions) Retail Revenues: Residential Revenues $ 275.6 $ — $ 795.3 $ 424.8 $ 955.3 $ 357.4 $ 361.0 Commercial Revenues 197.9 — 334.9 280.3 536.3 240.8 297.3 Industrial Revenues (a) 74.5 — 378.3 308.5 290.4 206.1 214.8 Other Retail Revenues 17.0 — 51.4 2.5 7.4 52.5 5.2 Total Retail Revenues 565.0 — 1,559.9 1,016.1 1,789.4 856.8 878.3 Wholesale Revenues: Generation Revenues (b) — — 144.4 167.5 — 5.2 83.5 Transmission Revenues (c) 309.4 883.4 85.3 17.7 38.9 21.2 81.2 Total Wholesale Revenues 309.4 883.4 229.7 185.2 38.9 26.4 164.7 Other Revenues from Contracts with Customers (d) 20.4 7.8 24.8 66.4 78.7 9.5 14.9 Total Revenues from Contracts with Customers 894.8 891.2 1,814.4 1,267.7 1,907.0 892.7 1,057.9 Other Revenues: Alternative Revenue Program (a) (e) (4.1) (4.7) (0.2) (5.5) (10.4) (1.0) (4.2) Other Revenues (a) — — — — 17.1 — — Total Other Revenues (4.1) (4.7) (0.2) (5.5) 6.7 (1.0) (4.2) Total Revenues $ 890.7 $ 886.5 $ 1,814.2 $ 1,262.2 $ 1,913.7 $ 891.7 $ 1,053.7 (a) Amounts include affiliated and nonaffiliated revenues. (b) Amounts include affiliated and nonaffiliated revenues. The affiliated revenue for APCo was $85 million primarily relating to the PPA with KGPCo. The remaining affiliated amounts were immaterial. (c) Amounts include affiliated and nonaffiliated revenues. The affiliated revenue for AEPTCo was $706 million. The remaining affiliated amounts were immaterial. (d) Amounts include affiliated and nonaffiliated revenues. The affiliated revenue for I&M was $35 million primarily relating to barging, urea transloading and other transportation services. The remaining affiliated amounts were immaterial. (e) Alternative revenue programs in certain jurisdictions include regulatory mechanisms that periodically adjust for over/under collection of related revenues. Six Months Ended June 30, 2022 AEP Texas AEPTCo APCo I&M OPCo PSO SWEPCo (in millions) Retail Revenues: Residential Revenues $ 316.8 $ — $ 771.2 $ 427.0 $ 845.4 $ 351.1 $ 364.5 Commercial Revenues 205.5 — 306.5 265.2 415.8 218.7 276.5 Industrial Revenues 67.2 — 315.7 296.5 228.7 171.1 181.8 Other Retail Revenues 17.7 — 40.8 2.5 6.7 47.0 6.8 Total Retail Revenues 607.2 — 1,434.2 991.2 1,496.6 787.9 829.6 Wholesale Revenues: Generation Revenues (a) — — 119.7 184.6 — 9.8 118.6 Transmission Revenues (b) 276.9 806.4 81.9 17.5 42.9 18.7 74.5 Total Wholesale Revenues 276.9 806.4 201.6 202.1 42.9 28.5 193.1 Other Revenues from Contracts with Customers (c) 14.9 (0.1) 44.9 55.7 104.8 15.0 11.3 Total Revenues from Contracts with Customers 899.0 806.3 1,680.7 1,249.0 1,644.3 831.4 1,034.0 Other Revenues: Alternative Revenue Program (d) (e) (3.5) (41.5) 0.1 7.3 (4.5) (0.9) (2.6) Other Revenues (e) — — 0.1 (0.1) 13.1 — — Total Other Revenues (3.5) (41.5) 0.2 7.2 8.6 (0.9) (2.6) Total Revenues $ 895.5 $ 764.8 $ 1,680.9 $ 1,256.2 $ 1,652.9 $ 830.5 $ 1,031.4 (a) Amounts include affiliated and nonaffiliated revenues. The affiliated revenue for APCo was $78 million primarily relating to the PPA with KGPCo. (b) Amounts include affiliated and nonaffiliated revenues. The affiliated revenue for AEPTCo was $653 million. The remaining affiliated amounts were immaterial. (c) Amounts include affiliated and nonaffiliated revenues. The affiliated revenue for I&M was $29 million primarily relating to barging, urea transloading and other transportation services. The remaining affiliated amounts were immaterial. (d) Alternative revenue programs in certain jurisdictions include regulatory mechanisms that periodically adjust for over/under collection of related revenues. (e) Amounts include affiliated and nonaffiliated revenues. Fixed Performance Obligations (Applies to AEP, APCo and I&M) The following table represents the Registrants’ remaining fixed performance obligations satisfied over time as of June 30, 2023. Fixed performance obligations primarily include electricity sales for fixed amounts of energy and stand ready services into PJM’s RPM market. The Registrants elected to apply the exemption to not disclose the value of unsatisfied performance obligations for contracts with an original expected term of one year or less. Due to the annual establishment of revenue requirements, transmission revenues are excluded from the table below. The Registrant Subsidiaries amounts shown in the table below include affiliated and nonaffiliated revenues. Company 2023 2024-2025 2026-2027 After 2027 Total (in millions) AEP $ 43.6 $ 161.4 $ 137.1 $ 60.9 $ 403.0 APCo 8.1 32.2 25.4 11.6 77.3 I&M 2.2 8.8 8.8 4.5 24.3 Contract Assets and Liabilities Contract assets are recognized when the Registrants have a right to consideration that is conditional upon the occurrence of an event other than the passage of time, such as future performance under a contract. The Registrants did not have material contract assets as of June 30, 2023 and December 31, 2022. When the Registrants receive consideration, or such consideration is unconditionally due from a customer prior to transferring goods or services to the customer under the terms of a sales contract, they recognize a contract liability on the balance sheets in the amount of that consideration. Revenue for such consideration is subsequently recognized in the period or periods in which the remaining performance obligations in the contract are satisfied. The Registrants’ contract liabilities typically arise from services provided under joint use agreements for utility poles. The Registrants did not have material contract liabilities as of June 30, 2023 and December 31, 2022. Accounts Receivable from Contracts with Customers Accounts receivable from contracts with customers are presented on the Registrant Subsidiaries’ balance sheets within the Accounts Receivable - Customers line item. The Registrant Subsidiaries’ balances for receivables from contracts that are not recognized in accordance with the accounting guidance for “Revenue from Contracts with Customers” included in Accounts Receivable - Customers were not material as of June 30, 2023 and December 31, 2022. See “Securitized Accounts Receivable - AEP Credit” section of Note 12 for additional information. The following table represents the amount of affiliated accounts receivable from contracts with customers included in Accounts Receivable - Affiliated Companies on the Registrant Subsidiaries’ balance sheets: Company June 30, 2023 December 31, 2022 (in millions) AEP Texas $ — $ 0.1 AEPTCo 123.1 113.8 APCo 68.1 64.5 I&M 47.3 75.3 OPCo 68.6 49.9 PSO 30.6 18.8 SWEPCo 42.4 19.1 |
Pay vs Performance Disclosure
Pay vs Performance Disclosure - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Pay vs Performance Disclosure | ||||
Net Income (Loss) | $ 516.1 | $ 520.8 | $ 916.5 | $ 1,238.9 |
Insider Trading Arrangements
Insider Trading Arrangements | 3 Months Ended |
Jun. 30, 2023 | |
Trading Arrangements, by Individual | |
Rule 10b5-1 Arrangement Adopted | false |
Non-Rule 10b5-1 Arrangement Adopted | false |
Rule 10b5-1 Arrangement Terminated | false |
Non-Rule 10b5-1 Arrangement Terminated | false |
Significant Accounting Matters
Significant Accounting Matters (Policies) | 6 Months Ended |
Jun. 30, 2023 | |
Basis of Accounting | General The unaudited condensed financial statements and footnotes were prepared in accordance with GAAP for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X of the SEC. Accordingly, they do not include all of the information and footnotes required by GAAP for complete annual financial statements. In the opinion of management, the unaudited condensed interim financial statements reflect all normal and recurring accruals and adjustments necessary for a fair statement of the net income, financial position and cash flows for the interim periods for each Registrant. Net income for the three and six months ended June 30, 2023 is not necessarily indicative of results that may be expected for the year ending December 31, 2023. The condensed financial statements are unaudited and should be read in conjunction with the audited 2022 financial statements and notes thereto, which are included in the Registrants’ Annual Reports on Form 10-K as filed with the SEC on February 23, 2023. |
Earnings Per Share | Earnings Per Share (EPS) (Applies to AEP) Basic EPS is calculated by dividing net earnings available to common shareholders by the weighted-average number of common shares outstanding during the period. Diluted EPS is calculated by adjusting the weighted-average outstanding common shares, assuming conversion of all potentially dilutive stock awards. |
Derivatives and Hedging (Polici
Derivatives and Hedging (Policies) | 6 Months Ended |
Jun. 30, 2023 | |
Derivatives and Hedging | OBJECTIVES FOR UTILIZATION OF DERIVATIVE INSTRUMENTS AEPSC is agent for and transacts on behalf of certain AEP subsidiaries, including the Registrant Subsidiaries. AEPEP is agent for and transacts on behalf of other AEP subsidiaries. The Registrants are exposed to certain market risks as major power producers and participants in the electricity, capacity, natural gas, coal and emission allowance markets. These risks include commodity price risks which may be subject to capacity risk, interest rate risk and credit risk. These risks represent the risk of loss that may impact the Registrants due to changes in the underlying market prices or rates. Management utilizes derivative instruments to manage these risks. STRATEGIES FOR UTILIZATION OF DERIVATIVE INSTRUMENTS TO ACHIEVE OBJECTIVES Risk Management Strategies The strategy surrounding the use of derivative instruments primarily focuses on managing risk exposures, future cash flows and creating value utilizing both economic and formal hedging strategies. The risk management strategies also include the use of derivative instruments for trading purposes which focus on seizing market opportunities to create value driven by expected changes in the market prices of the commodities. To accomplish these objectives, the Registrants primarily employ risk management contracts including physical and financial forward purchase-and-sale contracts and, to a lesser extent, OTC swaps and options. Not all risk management contracts meet the definition of a derivative under the accounting guidance for “Derivatives and Hedging.” Derivative risk management contracts elected normal under the normal purchases and normal sales scope exception are not subject to the requirements of this accounting guidance. The Registrants utilize power, capacity, coal, natural gas, interest rate and, to a lesser extent, heating oil, gasoline and other commodity contracts to manage the risk associated with the energy business. The Registrants utilize interest rate derivative contracts in order to manage the interest rate exposure associated with the commodity portfolio. For disclosure purposes, such risks are grouped as “Commodity,” as these risks are related to energy risk management activities. The Registrants also utilize derivative contracts to manage interest rate risk associated with debt financing. For disclosure purposes, these risks are grouped as “Interest Rate.” The amount of risk taken is determined by the Commercial Operations, Energy Supply and Finance groups in accordance with established risk management policies as approved by the Finance Committee of the Board of Directors. Fair Value Hedging Strategies (Applies to AEP) Parent enters into interest rate derivative transactions as part of an overall strategy to manage the mix of fixed-rate and floating-rate debt. Certain interest rate derivative transactions effectively modify exposure to interest rate risk by converting a portion of fixed-rate debt to a floating-rate. Provided specific criteria are met, these interest rate derivatives may be designated as fair value hedges. Cash Flow Hedging Strategies The Registrants utilize cash flow hedges on certain derivative transactions for the purchase and sale of power (“Commodity”) in order to manage the variable price risk related to forecasted purchases and sales. Management monitors the potential impacts of commodity price changes and, where appropriate, enters into derivative transactions to protect profit margins for a portion of future electricity sales and purchases. The Registrants do not hedge all commodity price risk. The Registrants utilize a variety of interest rate derivative transactions in order to manage interest rate risk exposure. The Registrants also utilize interest rate derivative contracts to manage interest rate exposure related to future borrowings of fixed-rate debt. The Registrants do not hedge all interest rate exposure. ACCOUNTING FOR DERIVATIVE INSTRUMENTS AND THE IMPACT ON THE FINANCIAL STATEMENTS The accounting guidance for “Derivatives and Hedging” requires recognition of all qualifying derivative instruments as either assets or liabilities on the balance sheets at fair value. The fair values of derivative instruments accounted for using MTM accounting or hedge accounting are based on exchange prices and broker quotes. If a quoted market price is not available, the estimate of fair value is based on the best information available including valuation models that estimate future energy prices based on existing market and broker quotes and other assumptions. In order to determine the relevant fair values of the derivative instruments, the Registrants apply valuation adjustments for discounting, liquidity and credit quality. Credit risk is the risk that a counterparty will fail to perform on the contract or fail to pay amounts due. Liquidity risk represents the risk that imperfections in the market will cause the price to vary from estimated fair value based upon prevailing market supply and demand conditions. Since energy markets are imperfect and volatile, there are inherent risks related to the underlying assumptions in models used to fair value risk management contracts. Unforeseen events may cause reasonable price curves to differ from actual price curves throughout a contract’s term and at the time a contract settles. Consequently, there could be significant adverse or favorable effects on future net income and cash flows if market prices are not consistent with management’s estimates of current market consensus for forward prices in the current period. This is particularly true for longer term contracts. Cash flows may vary based on market conditions, margin requirements and the timing of settlement of risk management contracts. Certain qualifying derivative instruments have been designated as normal purchase or normal sale contracts, as provided in the accounting guidance for “Derivatives and Hedging.” Derivative contracts that have been designated as normal purchases or normal sales under that accounting guidance are not subject to MTM accounting treatment and are recognized on the statements of income on an accrual basis. The accounting for the changes in the fair value of a derivative instrument depends on whether it qualifies for and has been designated as part of a hedging relationship and further, on the type of hedging relationship. Depending on the exposure, management designates a hedging instrument as a fair value hedge or a cash flow hedge. For contracts that have not been designated as part of a hedging relationship, the accounting for changes in fair value depends on whether the derivative instrument is held for trading purposes. Unrealized and realized gains and losses on derivative instruments held for trading purposes are included in revenues on a net basis on the statements of income. Unrealized and realized gains and losses on derivative instruments not held for trading purposes are included in revenues or expenses on the statements of income depending on the relevant facts and circumstances. Certain derivatives that economically hedge future commodity risk are recorded in the same line item on the statements of income as that of the associated risk being hedged. However, unrealized and some realized gains and losses in regulated jurisdictions for both trading and non-trading derivative instruments are recorded as regulatory assets (for losses) or regulatory liabilities (for gains) in accordance with the accounting guidance for “Regulated Operations.” Accounting for Fair Value Hedging Strategies (Applies to AEP) For fair value hedges (i.e. hedging the exposure to changes in the fair value of an asset, liability or an identified portion thereof attributable to a particular risk), the gain or loss on the derivative instrument as well as the offsetting gain or loss on the hedged item associated with the hedged risk impacts net income during the period of change. AEP records realized and unrealized gains or losses on interest rate swaps that are designated and qualify for fair value hedge accounting treatment and any offsetting changes in the fair value of the debt being hedged in Interest Expense on the statements of income. Accounting for Cash Flow Hedging Strategies (Applies to AEP, AEP Texas, APCo, I&M, PSO and SWEPCo) For cash flow hedges (i.e. hedging the exposure to variability in expected future cash flows that is attributable to a particular risk), the Registrants initially report the gain or loss on the derivative instrument as a component of Accumulated Other Comprehensive Income (Loss) on the balance sheets until the period the hedged item affects net income. Credit Risk Management mitigates credit risk in wholesale marketing and trading activities by assessing the creditworthiness of potential counterparties before entering into transactions with them and continuing to evaluate their creditworthiness on an ongoing basis. Management uses credit agency ratings and current market-based qualitative and quantitative data as well as financial statements to assess the financial health of counterparties on an ongoing basis. Master agreements are typically used to facilitate the netting of cash flows associated with a single counterparty and may include collateral requirements. Collateral requirements in the form of cash, letters of credit and parental/affiliate guarantees may be obtained as security from counterparties in order to mitigate credit risk. Some master agreements include margining, which requires a counterparty to post cash or letters of credit in the event exposure exceeds the established threshold. The threshold represents an unsecured credit limit which may be supported by a parental/affiliate guaranty, as determined in accordance with AEP’s credit policy. In addition, master agreements allow for termination and liquidation of all positions in the event of a default including a failure or inability to post collateral when required. Credit-Risk-Related Contingent Features Credit Downgrade Triggers (Applies to AEP, APCo, I&M, PSO and SWEPCo) |
Fair Value Measurements (Polici
Fair Value Measurements (Policies) | 6 Months Ended |
Jun. 30, 2023 | |
Valuation Techniques | Fair Value Hierarchy and Valuation Techniques The accounting guidance for “Fair Value Measurements and Disclosures” establishes a fair value hierarchy that prioritizes the inputs used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurement) and the lowest priority to unobservable inputs (Level 3 measurement). Where observable inputs are available for substantially the full term of the asset or liability, the instrument is categorized in Level 2. When quoted market prices are not available, pricing may be completed using comparable securities, dealer values, operating data and general market conditions to determine fair value. Valuation models utilize various inputs such as commodity, interest rate and, to a lesser degree, volatility and credit that include quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in inactive markets, market corroborated inputs (i.e. inputs derived principally from, or correlated to, observable market data) and other observable inputs for the asset or liability. For commercial activities, exchange-traded derivatives, namely futures contracts, are generally fair valued based on unadjusted quoted prices in active markets and are classified as Level 1. Level 2 inputs primarily consist of OTC broker quotes in moderately active or less active markets, as well as exchange-traded derivatives where there is insufficient market liquidity to warrant inclusion in Level 1. Management verifies price curves using these broker quotes and classifies these fair values within Level 2 when substantially all of the fair value can be corroborated. Management typically obtains multiple broker quotes, which are nonbinding in nature but are based on recent trades in the marketplace. When multiple broker quotes are obtained, the quoted bid and ask prices are averaged. In certain circumstances, a broker quote may be discarded if it is a clear outlier. Management uses a historical correlation analysis between the broker quoted location and the illiquid locations. If the points are highly correlated, these locations are included within Level 2 as well. Certain OTC and bilaterally executed derivative instruments are executed in less active markets with a lower availability of pricing information. Illiquid transactions, complex structured transactions, FTRs and counterparty credit risk may require nonmarket-based inputs. Some of these inputs may be internally developed or extrapolated and utilized to estimate fair value. When such inputs have a significant impact on the measurement of fair value, the instrument is categorized as Level 3. The main driver of contracts being classified as Level 3 is the inability to substantiate energy price curves in the market. A portion of the Level 3 instruments have been economically hedged which limits potential earnings volatility. AEP utilizes its trustee’s external pricing service to estimate the fair value of the underlying investments held in the nuclear trusts. AEP’s investment managers review and validate the prices utilized by the trustee to determine fair value. AEP’s management performs its own valuation testing to verify the fair values of the securities. AEP receives audit reports of the trustee’s operating controls and valuation processes. Assets in the nuclear trusts, cash and cash equivalents, other temporary investments restricted cash for securitized funding are classified using the following methods. Equities are classified as Level 1 holdings if they are actively traded on exchanges. Items classified as Level 1 are investments in money market funds, fixed income and equity mutual funds and equity securities. They are valued based on observable inputs, primarily unadjusted quoted prices in active markets for identical assets. Items classified as Level 2 are primarily investments in individual fixed income securities. Fixed income securities generally do not trade on exchanges and do not have an official closing price but their valuation inputs are based on observable market data. Pricing vendors calculate bond valuations using financial models and matrices. The models use observable inputs including yields on benchmark securities, quotes by securities brokers, rating agency actions, discounts or premiums on securities compared to par prices, changes in yields for U.S. Treasury securities, corporate actions by bond issuers, prepayment schedules and histories, economic events and, for certain securities, adjustments to yields to reflect changes in the rate of inflation. Other securities with model-derived valuation inputs that are observable are also classified as Level 2 investments. Investments with unobservable valuation inputs are classified as Level 3 investments. |
Fair Values of Long-term Debt | Fair Value Measurements of Long-term Debt (Applies to all Registrants) The fair values of Long-term Debt are based on quoted market prices, without credit enhancements, for the same or similar issues and the current interest rates offered for instruments with similar maturities classified as Level 2 measurement inputs. These instruments are not marked-to-market. The estimates presented are not necessarily indicative of the amounts that could be realized in a current market exchange. The fair value of AEP’s Equity Units (Level 1) are valued based on publicly traded securities issued by AEP. |
Trust Assets for Decommissioning and Spent Nuclear Fuel Disposal | Fair Value Measurements of Trust Assets for Decommissioning and SNF Disposal (Applies to AEP and I&M) Nuclear decommissioning and SNF trust funds represent funds that regulatory commissions allow I&M to collect through rates to fund future decommissioning and SNF disposal liabilities. By rules or orders, the IURC, the MPSC and the FERC established investment limitations and general risk management guidelines. In general, limitations include: • Acceptable investments (rated investment grade or above when purchased). • Maximum percentage invested in a specific type of investment. • Prohibition of investment in obligations of AEP, I&M or their affiliates. • Withdrawals permitted only for payment of decommissioning costs and trust expenses. I&M maintains trust funds for each regulatory jurisdiction. Regulatory approval is required to withdraw decommissioning funds. These funds are managed by an external investment manager that must comply with the guidelines and rules of the applicable regulatory authorities. The trust assets are invested to optimize the net of tax earnings of the trust giving consideration to liquidity, risk, diversification and other prudent investment objectives. I&M records securities held in these trust funds in Spent Nuclear Fuel and Decommissioning Trusts on its balance sheets. I&M records these securities at fair value. I&M classifies debt securities in the trust funds as available-for-sale due to their long-term purpose. Other-than-temporary impairments for investments in debt securities are considered realized losses as a result of securities being managed by an external investment management firm. The external investment management firm makes specific investment decisions regarding the debt and equity investments held in these trusts and generally intends to sell debt securities in an unrealized loss position as part of a tax optimization strategy. Impairments |
Fair Value Assets and Liabilities Measured on Recurring Basis | Fair Value Measurements of Financial Assets and Liabilities The following tables set forth, by level within the fair value hierarchy, the Registrants’ financial assets and liabilities that were accounted for at fair value on a recurring basis. As required by the accounting guidance for “Fair Value Measurements and Disclosures,” financial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. Management’s assessment of the significance of a particular input to the fair value measurement requires judgment and may affect the valuation of fair value assets and liabilities and their placement within the fair value hierarchy levels. There have not been any significant changes in management’s valuation techniques. |
Income Taxes (Policies)
Income Taxes (Policies) | 6 Months Ended |
Jun. 30, 2023 | |
Amortization of Excess ADIT Not Subject to Normalization Requirements Policy | The Registrants include the amortization of Excess ADIT not subject to normalization requirements in the annual estimated ETR when regulatory proceedings instruct the Registrants to provide the benefits of Tax Reform to customers over multiple interim periods. Certain regulatory proceedings instruct the Registrants to provide the benefits of Tax Reform to customers in a single period (e.g. by applying the Excess ADIT not subject to normalization requirements against an existing regulatory asset balance) and in these circumstances, the Registrants recognize the tax benefit discretely in the period recorded. The annual amount of Excess ADIT approved by the Registrant’s regulatory commissions may not impact the ETR ratably during each interim period due to the variability of pretax book income between interim periods and the application of an annual estimated ETR. |
Variable Interest Entities (Pol
Variable Interest Entities (Policies) | 6 Months Ended |
Jun. 30, 2023 | |
Variable Interest Entities | The accounting guidance for “Variable Interest Entities” is a consolidation model that considers if a company has a variable interest in a VIE. A VIE is a legal entity that possesses any of the following conditions: the entity’s equity at risk is not sufficient to permit the legal entity to finance its activities without additional subordinated financial support, equity owners are unable to direct the activities that most significantly impact the legal entity’s economic performance (or they possess disproportionate voting rights in relation to the economic interest in the legal entity), or the equity owners lack the obligation to absorb the legal entity’s expected losses or the right to receive the legal entity’s expected residual returns. Entities are required to consolidate a VIE when it is determined that they have a controlling financial interest in a VIE and therefore, are the primary beneficiary of that VIE, as defined by the accounting guidance for “Variable Interest Entities.” In determining whether AEP is the primary beneficiary of a VIE, management considers whether AEP has the power to direct the most significant activities of the VIE and is obligated to absorb losses or receive the expected residual returns that are significant to the VIE. AEP holds ownership interests in businesses with varying ownership structures. AEP has not provided material financial or other support that was not previously contractually required to any of its consolidated VIEs. If an entity is determined not to be a VIE, or if the entity is determined to be a VIE and AEP is not deemed to be the primary beneficiary, the entity is accounted for under the equity method of accounting. |
Significant Accounting Matter_2
Significant Accounting Matters (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Reconciliation of Cash, Cash Equivalents and Restricted Cash | June 30, 2023 AEP AEP Texas APCo (in millions) Cash and Cash Equivalents $ 304.9 $ 0.1 $ 6.8 Restricted Cash 45.8 30.7 15.1 Total Cash, Cash Equivalents and Restricted Cash $ 350.7 $ 30.8 $ 21.9 December 31, 2022 AEP AEP Texas APCo (in millions) Cash and Cash Equivalents $ 509.4 $ 0.1 $ 7.5 Restricted Cash 47.1 32.7 14.4 Total Cash, Cash Equivalents and Restricted Cash $ 556.5 $ 32.8 $ 21.9 |
Earnings Per Share | Three Months Ended June 30, 2023 2022 (in millions, except per share data) $/share $/share Earnings Attributable to AEP Common Shareholders $ 521.2 $ 524.5 Weighted-Average Number of Basic AEP Common Shares Outstanding 514.9 $ 1.01 513.6 $ 1.02 Weighted-Average Dilutive Effect of Stock-Based Awards 1.3 — 1.6 — Weighted-Average Number of Diluted AEP Common Shares Outstanding 516.2 $ 1.01 515.2 $ 1.02 Six Months Ended June 30, 2023 2022 (in millions, except per share data) $/share $/share Earnings Attributable to AEP Common Shareholders $ 918.2 $ 1,239.2 Weighted-Average Number of Basic AEP Common Shares Outstanding 514.5 $ 1.78 509.9 $ 2.43 Weighted-Average Dilutive Effect of Stock-Based Awards 1.4 — 1.5 (0.01) Weighted-Average Number of Diluted AEP Common Shares Outstanding 515.9 $ 1.78 511.4 $ 2.42 |
Comprehensive Income (Tables)
Comprehensive Income (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Changes in Accumulated Other Comprehensive Income (Loss) by Component | Cash Flow Hedges Pension Three Months Ended June 30, 2023 Commodity Interest Rate and OPEB Total (in millions) Balance in AOCI as of March 31, 2023 $ 65.3 $ 6.1 $ (139.5) $ (68.1) Change in Fair Value Recognized in AOCI, Net of Tax 5.9 7.0 — 12.9 Amount of (Gain) Loss Reclassified from AOCI Purchased Electricity, Fuel and Other Consumables Used for Electric Generation (a) 28.3 — — 28.3 Interest Expense (a) — (0.5) — (0.5) Amortization of Prior Service Cost (Credit) — — (5.3) (5.3) Amortization of Actuarial (Gains) Losses — — 1.4 1.4 Reclassifications from AOCI, before Income Tax (Expense) Benefit 28.3 (0.5) (3.9) 23.9 Income Tax (Expense) Benefit 6.0 (0.1) (0.8) 5.1 Reclassifications from AOCI, Net of Income Tax (Expense) Benefit 22.3 (0.4) (3.1) 18.8 Net Current Period Other Comprehensive Income (Loss) 28.2 6.6 (3.1) 31.7 Balance in AOCI as of June 30, 2023 $ 93.5 $ 12.7 $ (142.6) $ (36.4) Cash Flow Hedges Pension Three Months Ended June 30, 2022 Commodity Interest Rate and OPEB Total (in millions) Balance in AOCI as of March 31, 2022 $ 404.0 $ (13.6) $ 40.2 $ 430.6 Change in Fair Value Recognized in AOCI, Net of Tax 257.3 2.0 — 259.3 Amount of (Gain) Loss Reclassified from AOCI Generation & Marketing Revenues (a) 0.1 — — 0.1 Purchased Electricity, Fuel and Other Consumables Used for Electric Generation (a) (161.8) — — (161.8) Interest Expense (a) — 1.1 — 1.1 Amortization of Prior Service Cost (Credit) — — (5.4) (5.4) Amortization of Actuarial (Gains) Losses — — 2.1 2.1 Reclassifications from AOCI, before Income Tax (Expense) Benefit (161.7) 1.1 (3.3) (163.9) Income Tax (Expense) Benefit (34.0) 0.3 (0.7) (34.4) Reclassifications from AOCI, Net of Income Tax (Expense) Benefit (127.7) 0.8 (2.6) (129.5) Reclassifications of KPCo Pension and OPEB Regulatory Assets to AOCI — — (11.4) (11.4) Income Tax (Expense) Benefit — — (2.4) (2.4) Reclassifications of KPCo Pension and OPEB Regulatory Assets to AOCI, Net of Income Tax (Expense) Benefit — — (9.0) (9.0) Net Current Period Other Comprehensive Income (Loss) 129.6 2.8 (11.6) 120.8 Balance in AOCI as of June 30, 2022 $ 533.6 $ (10.8) $ 28.6 $ 551.4 Cash Flow Hedges Pension Six Months Ended June 30, 2023 Commodity Interest Rate and OPEB Total (in millions) Balance in AOCI as of December 31, 2022 $ 223.5 $ 0.3 $ (140.1) $ 83.7 Change in Fair Value Recognized in AOCI, Net of Tax (189.4) 12.2 (12.9) (190.1) Amount of (Gain) Loss Reclassified from AOCI Purchased Electricity, Fuel and Other Consumables Used for Electric Generation (a) 75.3 — — 75.3 Interest Expense (a) — 0.2 — 0.2 Amortization of Prior Service Cost (Credit) — — (10.6) (10.6) Amortization of Actuarial (Gains) Losses — — 2.6 2.6 Reclassifications from AOCI, before Income Tax (Expense) Benefit 75.3 0.2 (8.0) 67.5 Income Tax (Expense) Benefit 15.9 — (1.7) 14.2 Reclassifications from AOCI, Net of Income Tax (Expense) Benefit 59.4 0.2 (6.3) 53.3 Reclassifications of KPCo Pension and OPEB Regulatory Assets from AOCI — — 21.1 21.1 Income Tax (Expense) Benefit — — 4.4 4.4 Reclassifications of KPCo Pension and OPEB Regulatory Assets from AOCI, Net of Income Tax (Expense) Benefit — — 16.7 16.7 Net Current Period Other Comprehensive Income (Loss) (130.0) 12.4 (2.5) (120.1) Balance in AOCI as of June 30, 2023 $ 93.5 $ 12.7 $ (142.6) $ (36.4) Cash Flow Hedges Pension Six Months Ended June 30, 2022 Commodity Interest Rate and OPEB Total (in millions) Balance in AOCI as of December 31, 2021 $ 163.7 $ (21.3) $ 42.4 $ 184.8 Change in Fair Value Recognized in AOCI, Net of Tax 535.5 8.8 — 544.3 Amount of (Gain) Loss Reclassified from AOCI Purchased Electricity, Fuel and Other Consumables Used for Electric Generation (a) (209.7) — — (209.7) Interest Expense (a) — 2.2 — 2.2 Amortization of Prior Service Cost (Credit) — — (10.3) (10.3) Amortization of Actuarial (Gains) Losses — — 4.2 4.2 Reclassifications from AOCI, before Income Tax (Expense) Benefit (209.7) 2.2 (6.1) (213.6) Income Tax (Expense) Benefit (44.1) 0.5 (1.3) (44.9) Reclassifications from AOCI, Net of Income Tax (Expense) Benefit (165.6) 1.7 (4.8) (168.7) Reclassifications of KPCo Pension and OPEB Regulatory Assets to AOCI — — (11.4) (11.4) Income Tax (Expense) Benefit — — (2.4) (2.4) Reclassifications of KPCo Pension and OPEB Regulatory Assets to AOCI, Net of Income Tax (Expense) Benefit — — (9.0) (9.0) Net Current Period Other Comprehensive Income (Loss) 369.9 10.5 (13.8) 366.6 Balance in AOCI as of June 30, 2022 $ 533.6 $ (10.8) $ 28.6 $ 551.4 (a) Amounts reclassified to the referenced line item on the statements of income. |
Rate Matters (Tables)
Rate Matters (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Regulated Generating Units to be Retired | Plant Net Book Value Accelerated Depreciation Regulatory Asset Cost of Removal Projected Current Authorized Annual (dollars in millions) Northeastern Plant, Unit 3 $ 120.5 $ 154.9 $ 20.4 (b) 2026 (c) $ 14.9 Welsh Plant, Units 1 and 3 384.3 105.4 58.2 (d) 2028 (e) (f) 38.6 (a) Represents the amount of annual depreciation that has been collected from customers over the prior 12-month period. (b) Includes Northeastern Plant, Unit 4, which was retired in 2016. Removal of Northeastern Plant, Unit 4, will be performed with the removal of Northeastern Plant, Unit 3, after retirement. (c) Northeastern Plant, Unit 3 is currently being recovered through 2040. (d) Includes Welsh Plant, Unit 2, which was retired in 2016. Removal of Welsh Plant, Unit 2, will be performed with the removal of Welsh Plant, Units 1 and 3, after retirement. (e) Represents projected retirement date of coal assets, units are being evaluated for conversion to natural gas after 2028. |
Regulatory Assets Pending Final Regulatory Approval | AEP June 30, December 31, 2023 2022 Noncurrent Regulatory Assets (in millions) Regulatory Assets Currently Earning a Return Pirkey Plant Accelerated Depreciation $ 111.8 $ 116.5 Unrecovered Winter Storm Fuel Costs (a) 109.5 121.7 Welsh Plant, Units 1 and 3 Accelerated Depreciation 105.4 85.6 Dolet Hills Power Station Fuel Costs - Louisiana 33.9 32.0 Texas Mobile Generation Costs 29.4 17.6 Other Regulatory Assets Pending Final Regulatory Approval 21.4 19.3 Regulatory Assets Currently Not Earning a Return Storm-Related Costs (b)(c)(d) 395.4 407.2 2020-2022 Virginia Triennial Under-Earnings 35.0 37.9 Plant Retirement Costs – Asset Retirement Obligation Costs 25.9 25.9 Other Regulatory Assets Pending Final Regulatory Approval 49.3 55.6 Total Regulatory Assets Pending Final Regulatory Approval $ 917.0 $ 919.3 (a) Includes $37 million and $37 million of unrecovered winter storm fuel costs recorded as a current regulatory asset as of June 30, 2023 and December 31, 2022, respectively. See the “February 2021 Severe Winter Weather Impacts in SPP” section below for additional information. (b) In April 2023, OPCo filed a request with the PUCO for recovery of $34 million in Ohio storm-related costs. (c) In April 2023, the LPSC issued an order approving the prudence and future recovery of the Louisiana storm-related regulatory assets. See “2021 Louisiana Storm Cost Filing” section below for additional information. (d) In June 2023, storms in the Oklahoma, Louisiana and Texas service territories caused power outages and extensive damage resulting in the deferral of $52 million, $28 million and $20 million, respectively. Recovery of these storm costs will be addressed in a future request. AEP Texas June 30, December 31, 2023 2022 Noncurrent Regulatory Assets (in millions) Regulatory Assets Currently Earning a Return Texas Mobile Generation Costs $ 29.4 $ 17.6 Regulatory Assets Currently Not Earning a Return Storm-Related Costs 34.9 26.7 Vegetation Management Program 5.2 5.2 Texas Retail Electric Provider Bad Debt Expense 4.1 4.1 Other Regulatory Assets Pending Final Regulatory Approval 13.6 13.4 Total Regulatory Assets Pending Final Regulatory Approval $ 87.2 $ 67.0 APCo June 30, December 31, 2023 2022 Noncurrent Regulatory Assets (in millions) Regulatory Assets Currently Earning a Return COVID-19 – Virginia $ 7.2 $ 7.0 Regulatory Assets Currently Not Earning a Return Storm-Related Costs - West Virginia 72.0 72.6 2020-2022 Virginia Triennial Under-Earnings 35.0 37.9 Plant Retirement Costs – Asset Retirement Obligation Costs 25.9 25.9 Other Regulatory Assets Pending Final Regulatory Approval 5.5 1.1 Total Regulatory Assets Pending Final Regulatory Approval $ 145.6 $ 144.5 I&M June 30, December 31, 2023 2022 Noncurrent Regulatory Assets (in millions) Regulatory Assets Currently Earning a Return Other Regulatory Assets Pending Final Regulatory Approval $ 0.1 $ 0.1 Regulatory Assets Currently Not Earning a Return Storm-Related Costs - Indiana 23.9 21.6 Other Regulatory Assets Pending Final Regulatory Approval 2.7 2.0 Total Regulatory Assets Pending Final Regulatory Approval $ 26.7 $ 23.7 OPCo June 30, December 31, 2023 2022 Noncurrent Regulatory Assets (in millions) Regulatory Assets Currently Not Earning a Return Storm-Related Costs (a) $ 52.7 $ 33.8 Other Regulatory Assets Pending Final Regulatory Approval 0.1 — Total Regulatory Assets Pending Final Regulatory Approval $ 52.8 $ 33.8 (a) In April 2023, OPCo filed a request with the PUCO for recovery of $34 million in storm costs. PSO June 30, December 31, 2023 2022 Noncurrent Regulatory Assets (in millions) Regulatory Assets Currently Not Earning a Return Storm-Related Costs (a) $ 84.6 $ 25.5 Other Regulatory Assets Pending Final Regulatory Approval 0.2 0.1 Total Regulatory Assets Pending Final Regulatory Approval $ 84.8 $ 25.6 (a) In June 2023, storms caused power outages and extensive damage to the Oklahoma service territory, resulting in the deferral of $52 million. Recovery for these storm costs will be included in a future request. SWEPCo June 30, December 31, 2023 2022 Noncurrent Regulatory Assets (in millions) Regulatory Assets Currently Earning a Return Pirkey Plant Accelerated Depreciation $ 111.8 $ 116.5 Unrecovered Winter Storm Fuel Costs (a) 109.5 121.7 Welsh Plant, Units 1 and 3 Accelerated Depreciation 105.4 85.6 Dolet Hills Power Station Fuel Costs - Louisiana 33.9 32.0 Dolet Hills Power Station 12.1 9.7 Other Regulatory Assets Pending Final Regulatory Approval 1.9 2.5 Regulatory Assets Currently Not Earning a Return Storm-Related Costs (b)(c) 48.0 151.5 Asset Retirement Obligation - Louisiana — 11.8 Other Regulatory Assets Pending Final Regulatory Approval 15.9 16.0 Total Regulatory Assets Pending Final Regulatory Approval $ 438.5 $ 547.3 (a) Includes $37 million and $37 million of unrecovered winter storm fuel costs recorded as a current regulatory asset as of June 30, 2023 and December 31, 2022, respectively. See the “February 2021 Severe Winter Weather Impacts in SPP” section below for additional information. (b) In April 2023, the LPSC issued an order approving the prudence and future recovery of the Louisiana storm-related regulatory assets. See “2021 Louisiana Storm Cost Filing” section below for additional information. (c) In June 2023, additional storms in the Louisiana and Texas service territories caused power outages and extensive damage resulting in the deferral of $28 million and $20 million, respectively. Recovery of these storm costs will be addressed in a future request. |
Southwestern Electric Power Co [Member] | February 2021 Severe Storm Fuel Costs | |
Natural Gas Expenses and Purchases of Electricity to be Recovered from Customers [Table Text Block] | Jurisdiction June 30, 2023 December 31, 2022 Approved Recovery Period Approved Carrying Charge (in millions) Arkansas $ 66.4 $ 74.9 6 years (a) Louisiana 109.5 121.7 (b) (b) Texas 117.8 132.4 5 years 1.65% Total $ 293.7 $ 329.0 (a) SWEPCo is permitted to record carrying costs on the unrecovered balance of fuel costs at a weighted-cost of capital approved by the APSC. (b) In March 2021, the LPSC approved a special order granting a temporary modification to the FAC and shortly after SWEPCo began recovery of its Louisiana jurisdictional share of these fuel costs based on a five-year recovery period inclusive of an interim carrying charge equal to the prime rate. The special order states the fuel and purchased power costs incurred will be subject to a future LPSC audit. |
Commitments, Guarantees and C_2
Commitments, Guarantees and Contingencies (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Maximum Future Payments for Letters of Credit Uncommitted Facilities | Company Amount Maturity (in millions) AEP $ 288.8 July 2023 to June 2024 AEP Texas 1.8 July 2023 |
Max Potential Loss on Master Lease Agreements | Company Maximum (in millions) AEP $ 45.0 AEP Texas 10.9 APCo 5.6 I&M 4.2 OPCo 7.0 PSO 4.7 SWEPCo 5.4 |
Discontinued Operations and Dis
Discontinued Operations and Disposal Groups (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Discontinued Operations and Disposal Groups [Abstract] | |
Assets and Liabilities HFS - Contracted Renewables | June 30, 2023 (in millions) ASSETS Accounts Receivable and Accrued Unbilled Revenues $ 10.0 Property, Plant and Equipment, Net 1,394.0 Other Classes of Assets that are not Major 67.3 Total Major Classes of Assets Held for Sale 1,471.3 Loss on the Expected Sale of the Competitive Contracted Renewables Portfolio (net of $23.5 million of Income Taxes) (88.5) Assets Held for Sale $ 1,382.8 LIABILITIES Accounts Payable $ 4.6 Asset Retirement Obligations 31.0 Obligations Under Operating Leases 21.6 Other Classes of Liabilities that are not Major 7.6 Liabilities Held for Sale $ 64.8 |
Benefit Plans (Tables)
Benefit Plans (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Components of Net Periodic Benefit Cost | Pension Plans Three Months Ended June 30, 2023 AEP AEP Texas APCo I&M OPCo PSO SWEPCo (in millions) Service Cost $ 23.6 $ 2.1 $ 2.2 $ 3.0 $ 2.1 $ 1.4 $ 1.9 Interest Cost 54.8 4.6 6.6 6.2 5.0 2.7 3.5 Expected Return on Plan Assets (84.8) (7.0) (11.1) (11.1) (8.5) (4.6) (4.9) Amortization of Net Actuarial Loss 0.4 — — — — — — Net Periodic Benefit Cost (Credit) $ (6.0) $ (0.3) $ (2.3) $ (1.9) $ (1.4) $ (0.5) $ 0.5 Three Months Ended June 30, 2022 AEP AEP Texas APCo I&M OPCo PSO SWEPCo (in millions) Service Cost $ 30.8 $ 2.8 $ 2.8 $ 4.1 $ 2.9 $ 1.8 $ 2.7 Interest Cost 37.1 3.0 4.4 4.2 3.2 1.7 2.3 Expected Return on Plan Assets (63.3) (5.2) (8.1) (8.1) (6.2) (3.4) (3.6) Amortization of Net Actuarial Loss 15.7 1.3 1.8 1.7 1.4 0.8 0.9 Net Periodic Benefit Cost $ 20.3 $ 1.9 $ 0.9 $ 1.9 $ 1.3 $ 0.9 $ 2.3 Six Months Ended June 30, 2023 AEP AEP Texas APCo I&M OPCo PSO SWEPCo (in millions) Service Cost $ 47.2 $ 4.1 $ 4.5 $ 6.0 $ 4.2 $ 2.8 $ 3.8 Interest Cost 109.6 9.2 13.2 12.4 9.9 5.4 7.0 Expected Return on Plan Assets (169.6) (14.0) (22.3) (22.1) (17.0) (9.2) (9.7) Amortization of Net Actuarial Loss 0.7 — — — — — — Net Periodic Benefit Cost (Credit) $ (12.1) $ (0.7) $ (4.6) $ (3.7) $ (2.9) $ (1.0) $ 1.1 Six Months Ended June 30, 2022 AEP AEP Texas APCo I&M OPCo PSO SWEPCo (in millions) Service Cost $ 61.6 $ 5.6 $ 5.7 $ 8.1 $ 5.6 $ 3.7 $ 5.3 Interest Cost 74.1 6.0 8.8 8.4 6.6 3.5 4.6 Expected Return on Plan Assets (126.7) (10.5) (16.2) (16.1) (12.4) (6.8) (7.3) Amortization of Net Actuarial Loss 31.5 2.6 3.6 3.5 2.8 1.5 1.9 Net Periodic Benefit Cost $ 40.5 $ 3.7 $ 1.9 $ 3.9 $ 2.6 $ 1.9 $ 4.5 OPEB Three Months Ended June 30, 2023 AEP AEP Texas APCo I&M OPCo PSO SWEPCo (in millions) Service Cost $ 1.2 $ 0.1 $ 0.2 $ 0.2 $ 0.1 $ — $ 0.1 Interest Cost 11.5 0.9 1.9 1.4 1.1 0.6 0.7 Expected Return on Plan Assets (27.4) (2.2) (4.0) (3.4) (3.0) (1.4) (1.8) Amortization of Prior Service Credit (15.7) (1.4) (2.3) (2.1) (1.5) (1.0) (1.2) Amortization of Net Actuarial Loss 3.7 0.3 0.5 0.4 0.4 0.2 0.3 Net Periodic Benefit Credit $ (26.7) $ (2.3) $ (3.7) $ (3.5) $ (2.9) $ (1.6) $ (1.9) Three Months Ended June 30, 2022 AEP AEP Texas APCo I&M OPCo PSO SWEPCo (in millions) Service Cost $ 1.9 $ 0.1 $ 0.2 $ 0.3 $ 0.1 $ 0.1 $ 0.2 Interest Cost 7.3 0.5 1.1 0.9 0.8 0.3 0.4 Expected Return on Plan Assets (27.5) (2.2) (4.0) (3.5) (2.9) (1.5) (1.8) Amortization of Prior Service Credit (17.9) (1.5) (2.6) (2.5) (1.8) (1.1) (1.3) Net Periodic Benefit Credit $ (36.2) $ (3.1) $ (5.3) $ (4.8) $ (3.8) $ (2.2) $ (2.5) Six Months Ended June 30, 2023 AEP AEP Texas APCo I&M OPCo PSO SWEPCo (in millions) Service Cost $ 2.3 $ 0.2 $ 0.3 $ 0.4 $ 0.2 $ 0.1 $ 0.2 Interest Cost 23.1 1.8 3.7 2.7 2.3 1.2 1.4 Expected Return on Plan Assets (54.8) (4.5) (8.0) (6.8) (5.9) (2.9) (3.6) Amortization of Prior Service Credit (31.5) (2.7) (4.6) (4.3) (3.1) (2.0) (2.4) Amortization of Net Actuarial Loss 7.4 0.6 1.1 0.9 0.8 0.4 0.5 Net Periodic Benefit Credit $ (53.5) $ (4.6) $ (7.5) $ (7.1) $ (5.7) $ (3.2) $ (3.9) Six Months Ended June 30, 2022 AEP AEP Texas APCo I&M OPCo PSO SWEPCo (in millions) Service Cost $ 3.7 $ 0.2 $ 0.4 $ 0.5 $ 0.3 $ 0.2 $ 0.3 Interest Cost 14.6 1.1 2.3 1.7 1.5 0.7 0.9 Expected Return on Plan Assets (55.0) (4.5) (8.1) (6.9) (5.9) (3.0) (3.7) Amortization of Prior Service Credit (35.7) (3.0) (5.2) (4.9) (3.6) (2.2) (2.6) Net Periodic Benefit Credit $ (72.4) $ (6.2) $ (10.6) $ (9.6) $ (7.7) $ (4.3) $ (5.1) |
Business Segments (Tables)
Business Segments (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Segment Reporting Information [Line Items] | |
Reportable Segment Information | Three Months Ended June 30, 2023 Vertically Integrated Utilities Transmission and Distribution Utilities AEP Transmission Holdco Generation Corporate and Other (a) Reconciling Adjustments Consolidated (in millions) Revenues from: External Customers $ 2,629.0 $ 1,330.8 $ 88.3 $ 318.2 $ 6.2 $ — $ 4,372.5 Other Operating Segments 45.5 9.4 370.3 13.2 25.8 (464.2) — Total Revenues $ 2,674.5 $ 1,340.2 $ 458.6 $ 331.4 $ 32.0 $ (464.2) $ 4,372.5 Net Income (Loss) $ 278.4 $ 176.7 $ 197.3 $ (38.6) $ (97.7) $ — $ 516.1 Three Months Ended June 30, 2022 Vertically Integrated Utilities Transmission and Distribution Utilities AEP Transmission Holdco Generation Corporate and Other (a) Reconciling Adjustments Consolidated (in millions) Revenues from: External Customers $ 2,595.0 $ 1,296.8 $ 79.1 $ 654.4 $ 14.4 $ — $ 4,639.7 Other Operating Segments 53.5 4.8 299.7 5.2 10.1 (373.3) — Total Revenues $ 2,648.5 $ 1,301.6 $ 378.8 $ 659.6 $ 24.5 $ (373.3) $ 4,639.7 Net Income (Loss) $ 303.3 $ 164.8 $ 142.7 $ 65.9 $ (155.9) $ — $ 520.8 Six Months Ended June 30, 2023 Vertically Integrated Utilities Transmission and Distribution Utilities AEP Transmission Holdco Generation Corporate and Other (a) Reconciling Adjustments Consolidated (in millions) Revenues from: External Customers $ 5,445.3 $ 2,786.1 $ 178.4 $ 645.1 $ 8.5 $ — $ 9,063.4 Other Operating Segments 87.0 18.3 735.7 13.3 53.6 (907.9) — Total Revenues $ 5,532.3 $ 2,804.4 $ 914.1 $ 658.4 $ 62.1 $ (907.9) $ 9,063.4 Net Income (Loss) $ 540.6 $ 302.4 $ 379.7 $ (195.0) $ (111.2) $ — $ 916.5 Six Months Ended June 30, 2022 Vertically Integrated Utilities Transmission and Distribution Utilities AEP Transmission Holdco Generation Corporate and Other (a) Reconciling Adjustments Consolidated (in millions) Revenues from: External Customers $ 5,241.8 $ 2,539.0 $ 162.5 $ 1,263.9 $ 25.1 $ — $ 9,232.3 Other Operating Segments 94.1 9.4 627.7 15.0 19.3 (765.5) — Total Revenues $ 5,335.9 $ 2,548.4 $ 790.2 $ 1,278.9 $ 44.4 $ (765.5) $ 9,232.3 Net Income (Loss) $ 602.5 $ 317.6 $ 316.4 $ 181.9 $ (179.5) $ — $ 1,238.9 June 30, 2023 Vertically Integrated Utilities Transmission and Distribution Utilities AEP Transmission Holdco Generation Corporate and Other (a) Reconciling Consolidated (in millions) Total Assets (d) $ 51,047.3 $ 23,900.0 $ 16,023.5 $ 4,457.9 $ 6,451.4 (b) $ (5,878.0) (c) $ 96,002.1 December 31, 2022 Vertically Integrated Utilities Transmission and Distribution Utilities AEP Transmission Holdco Generation Corporate and Other (a) Reconciling Consolidated (in millions) Total Assets $ 49,761.8 $ 22,920.2 $ 15,215.8 $ 4,520.1 $ 6,768.4 (b) $ (5,783.0) (c) $ 93,403.3 (a) Corporate and Other primarily includes the purchasing of receivables from certain AEP utility subsidiaries. This segment also includes Parent’s guarantee revenue received from affiliates, investment income, interest income, interest expense and other nonallocated costs. (b) Includes elimination of AEP Parent’s investments in wholly-owned subsidiary companies. (c) Reconciling Adjustments for Total Assets primarily include elimination of intercompany advances to affiliates and intercompany accounts receivable. (d) Amount includes Assets Held for Sale on the balance sheet. See “Planned Disposition of the Competitive Contracted Renewables Portfolio” section of Note 6 for additional information. Three Months Ended June 30, 2023 State Transcos AEPTCo Parent Reconciling Adjustments AEPTCo (in millions) Revenues from: External Customers $ 87.4 $ — $ — $ 87.4 Sales to AEP Affiliates 357.5 — — 357.5 Total Revenues $ 444.9 $ — $ — $ 444.9 Net Income $ 174.2 $ 1.5 (a) $ — $ 175.7 Three Months Ended June 30, 2022 State Transcos AEPTCo Parent Reconciling Adjustments AEPTCo (in millions) Revenues from: External Customers $ 77.3 $ — $ — $ 77.3 Sales to AEP Affiliates 287.1 — — 287.1 Total Revenues $ 364.4 $ — $ — $ 364.4 Net Income $ 118.4 $ 0.1 (a) $ — $ 118.5 Six Months Ended June 30, 2023 State Transcos AEPTCo Parent Reconciling Adjustments AEPTCo Consolidated (in millions) Revenues from: External Customers $ 176.4 $ — $ — $ 176.4 Sales to AEP Affiliates 710.1 — — 710.1 Total Revenues $ 886.5 $ — $ — $ 886.5 Net Income $ 335.8 $ 2.6 (a) $ — $ 338.4 Six Months Ended June 30, 2022 State Transcos AEPTCo Parent Reconciling Adjustments AEPTCo Consolidated (in millions) Revenues from: External Customers $ 162.3 $ — $ — $ 162.3 Sales to AEP Affiliates 602.5 — — 602.5 Total Revenues $ 764.8 $ — $ — $ 764.8 Net Income $ 273.8 $ 0.1 (a) $ — $ 273.9 June 30, 2023 State Transcos AEPTCo Parent Reconciling Adjustments AEPTCo (in millions) Total Assets $ 14,626.3 $ 5,542.1 (b) $ (5,591.9) (c) $ 14,576.5 December 31, 2022 State Transcos AEPTCo Parent Reconciling Adjustments AEPTCo (in millions) Total Assets $ 13,875.6 $ 4,817.4 (b) $ (4,878.8) (c) $ 13,814.2 (a) Includes the elimination of AEPTCo Parent’s equity earnings in the State Transcos. (b) Primarily relates to Notes Receivable from the State Transcos. (c) Primarily relates to the elimination of Notes Receivable from the State Transcos. |
Derivatives and Hedging (Tables
Derivatives and Hedging (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Notional Volume of Derivative Instruments | Notional Volume of Derivative Instruments June 30, 2023 Primary Risk Unit of AEP AEP Texas APCo I&M OPCo PSO SWEPCo (in millions) Commodity: Power MWhs 269.9 — 29.1 9.2 2.3 8.7 6.9 Natural Gas MMBtus 136.8 — 5.2 — — 28.3 7.3 Heating Oil and Gasoline Gallons 6.7 1.8 1.0 0.6 1.4 0.9 0.9 Interest Rate USD $ 91.4 $ — $ — $ — $ — $ — $ — Interest Rate on Long-term Debt USD $ 950.0 $ — $ — $ — $ — $ — $ — December 31, 2022 Primary Risk Unit of AEP AEP Texas APCo I&M OPCo PSO SWEPCo (in millions) Commodity: Power MWhs 226.8 — 17.9 4.2 2.5 2.9 2.2 Natural Gas MMBtus 77.1 — 1.9 — — 1.9 2.1 Heating Oil and Gasoline Gallons 6.9 1.9 1.0 0.7 1.4 0.9 1.0 Interest Rate USD $ 99.9 $ — $ — $ — $ — $ — $ — Interest Rate on Long-term Debt USD $ 1,650.0 $ — $ — $ — $ — $ 200.0 $ — |
Fair Value of Derivative Instruments | AEP June 30, 2023 Risk Hedging Contracts Gross Amounts Gross Net Amounts of Balance Sheet Location Commodity (a) Commodity (a) Interest Rate (a) (in millions) Current Risk Management Assets $ 721.6 $ 43.4 $ — $ 765.0 $ (485.5) $ 279.5 Long-term Risk Management Assets 466.4 95.1 — 561.5 (294.7) 266.8 Total Assets 1,188.0 138.5 — 1,326.5 (780.2) 546.3 Current Risk Management Liabilities 631.5 12.8 42.6 686.9 (510.7) 176.2 Long-term Risk Management Liabilities 418.5 6.7 82.1 507.3 (232.0) 275.3 Total Liabilities 1,050.0 19.5 124.7 1,194.2 (742.7) 451.5 Total MTM Derivative Contract Net Assets (Liabilities) $ 138.0 $ 119.0 $ (124.7) $ 132.3 $ (37.5) $ 94.8 December 31, 2022 Risk Hedging Contracts Gross Amounts Gross Net Amounts of Balance Sheet Location Commodity (a) Commodity (a) Interest Rate (a) (in millions) Current Risk Management Assets $ 965.4 $ 212.2 $ 1.8 $ 1,179.4 $ (830.6) $ 348.8 Long-term Risk Management Assets 565.6 148.9 14.3 728.8 (444.7) 284.1 Total Assets 1,531.0 361.1 16.1 1,908.2 (1,275.3) 632.9 Current Risk Management Liabilities 663.8 60.4 41.4 765.6 (620.4) 145.2 Long-term Risk Management Liabilities 412.0 17.4 91.1 520.5 (175.3) 345.2 Total Liabilities 1,075.8 77.8 132.5 1,286.1 (795.7) 490.4 Total MTM Derivative Contract Net Assets (Liabilities) $ 455.2 $ 283.3 $ (116.4) $ 622.1 $ (479.6) $ 142.5 AEP Texas June 30, 2023 Risk Management Gross Amounts Offset Net Amounts of Assets/Liabilities Contracts – in the Statement of Presented in the Statement of Balance Sheet Location Commodity (a) Financial Position (b) Financial Position (c) (in millions) Current Risk Management Assets $ — $ — $ — Long-term Risk Management Assets — — — Total Assets — — — Current Risk Management Liabilities 0.4 (0.4) — Long-term Risk Management Liabilities 0.1 (0.1) — Total Liabilities 0.5 (0.5) — Total MTM Derivative Contract Net Assets (Liabilities) $ (0.5) $ 0.5 $ — December 31, 2022 Risk Management Gross Amounts Offset Net Amounts of Assets/Liabilities Contracts – in the Statement of Presented in the Statement of Balance Sheet Location Commodity (a) Financial Position (b) Financial Position (c) (in millions) Current Risk Management Assets $ — $ — $ — Long-term Risk Management Assets — — — Total Assets — — — Current Risk Management Liabilities — — — Long-term Risk Management Liabilities — — — Total Liabilities — — — Total MTM Derivative Contract Net Assets $ — $ — $ — APCo June 30, 2023 Risk Management Gross Amounts Offset Net Amounts of Assets/Liabilities Contracts – in the Statement of Presented in the Statement of Balance Sheet Location Commodity (a) Financial Position (b) Financial Position (c) (in millions) Current Risk Management Assets $ 42.5 $ (3.3) $ 39.2 Long-term Risk Management Assets 0.6 (0.4) 0.2 Total Assets 43.1 (3.7) 39.4 Current Risk Management Liabilities 5.1 (4.0) 1.1 Long-term Risk Management Liabilities 0.4 (0.4) — Total Liabilities 5.5 (4.4) 1.1 Total MTM Derivative Contract Net Assets $ 37.6 $ 0.7 $ 38.3 December 31, 2022 Risk Management Gross Amounts Offset Net Amounts of Assets/Liabilities Contracts – in the Statement of Presented in the Statement of Balance Sheet Location Commodity (a) Financial Position (b) Financial Position (c) (in millions) Current Risk Management Assets $ 69.3 $ (0.2) $ 69.1 Long-term Risk Management Assets 0.7 (0.7) — Total Assets 70.0 (0.9) 69.1 Current Risk Management Liabilities 4.1 (0.5) 3.6 Long-term Risk Management Liabilities 0.7 (0.6) 0.1 Total Liabilities 4.8 (1.1) 3.7 Total MTM Derivative Contract Net Assets $ 65.2 $ 0.2 $ 65.4 I&M June 30, 2023 Risk Management Gross Amounts Offset Net Amounts of Assets/Liabilities Contracts – in the Statement of Presented in the Statement of Balance Sheet Location Commodity (a) Financial Position (b) Financial Position (c) (in millions) Current Risk Management Assets $ 22.3 $ (0.9) $ 21.4 Long-term Risk Management Assets 11.8 (2.7) 9.1 Total Assets 34.1 (3.6) 30.5 Current Risk Management Liabilities 2.8 (1.4) 1.4 Long-term Risk Management Liabilities 2.7 (2.7) — Total Liabilities 5.5 (4.1) 1.4 Total MTM Derivative Contract Net Assets $ 28.6 $ 0.5 $ 29.1 December 31, 2022 Risk Management Gross Amounts Offset Net Amounts of Assets/Liabilities Contracts – in the Statement of Presented in the Statement of Balance Sheet Location Commodity (a) Financial Position (b) Financial Position (c) (in millions) Current Risk Management Assets $ 16.0 $ (0.8) $ 15.2 Long-term Risk Management Assets 0.5 (0.3) 0.2 Total Assets 16.5 (1.1) 15.4 Current Risk Management Liabilities 0.9 (0.9) — Long-term Risk Management Liabilities 0.3 (0.3) — Total Liabilities 1.2 (1.2) — Total MTM Derivative Contract Net Assets $ 15.3 $ 0.1 $ 15.4 OPCo June 30, 2023 Risk Management Gross Amounts Offset Net Amounts of Assets/Liabilities Contracts – in the Statement of Presented in the Statement of Balance Sheet Location Commodity (a) Financial Position (b) Financial Position (c) (in millions) Current Risk Management Assets $ — $ — $ — Long-term Risk Management Assets — — — Total Assets — — — Current Risk Management Liabilities 6.6 (0.3) 6.3 Long-term Risk Management Liabilities 47.8 (0.1) 47.7 Total Liabilities 54.4 (0.4) 54.0 Total MTM Derivative Contract Net Assets (Liabilities) $ (54.4) $ 0.4 $ (54.0) December 31, 2022 Risk Management Gross Amounts Offset Net Amounts of Assets/Liabilities Contracts – in the Statement of Presented in the Statement of Balance Sheet Location Commodity (a) Financial Position (b) Financial Position (c) (in millions) Current Risk Management Assets $ — $ — $ — Long-term Risk Management Assets — — — Total Assets — — — Current Risk Management Liabilities 2.1 (0.3) 1.8 Long-term Risk Management Liabilities 37.9 — 37.9 Total Liabilities 40.0 (0.3) 39.7 Total MTM Derivative Contract Net Assets (Liabilities) $ (40.0) $ 0.3 $ (39.7) PSO June 30, 2023 Risk Management Gross Amounts Offset Net Amounts of Assets/Liabilities Contracts – in the Statement of Presented in the Statement of Balance Sheet Location Commodity (a) Financial Position (b) Financial Position (c) (in millions) Current Risk Management Assets $ 47.4 $ (2.6) $ 44.8 Long-term Risk Management Assets 0.2 (0.2) — Total Assets 47.6 (2.8) 44.8 Current Risk Management Liabilities 5.4 (2.8) 2.6 Long-term Risk Management Liabilities 1.0 (0.2) 0.8 Total Liabilities 6.4 (3.0) 3.4 Total MTM Derivative Contract Net Assets $ 41.2 $ 0.2 $ 41.4 December 31, 2022 Risk Management Contracts – Hedging Contracts Gross Amounts of Risk Management Assets/Liabilities Recognized Gross Amounts Offset in the Statement of Financial Position (b) Net Amounts of Assets/Liabilities Presented in the Statement of Financial Position (c) Balance Sheet Location Commodity (a) Interest Rate (a) (in millions) Current Risk Management Assets $ 24.1 $ 1.6 $ 25.7 $ (0.4) $ 25.3 Long-term Risk Management Assets — — — — — Total Assets 24.1 1.6 25.7 (0.4) 25.3 Current Risk Management Liabilities 2.1 — 2.1 (0.5) 1.6 Long-term Risk Management Liabilities — — — — — Total Liabilities 2.1 — 2.1 (0.5) 1.6 Total MTM Derivative Contract Net Assets $ 22.0 $ 1.6 $ 23.6 $ 0.1 $ 23.7 SWEPCo June 30, 2023 Risk Management Gross Amounts Offset Net Amounts of Assets/Liabilities Contracts – in the Statement of Presented in the Statement of Balance Sheet Location Commodity (a) Financial Position (b) Financial Position (c) (in millions) Current Risk Management Assets $ 28.5 $ (0.5) $ 28.0 Long-term Risk Management Assets — — — Total Assets 28.5 (0.5) 28.0 Current Risk Management Liabilities 2.4 (0.8) 1.6 Long-term Risk Management Liabilities 0.2 — 0.2 Total Liabilities 2.6 (0.8) 1.8 Total MTM Derivative Contract Net Assets $ 25.9 $ 0.3 $ 26.2 December 31, 2022 Risk Management Gross Amounts Offset Net Amounts of Assets/Liabilities Contracts – in the Statement of Presented in the Statement of Balance Sheet Location Commodity (a) Financial Position (b) Financial Position (c) (in millions) Current Risk Management Assets $ 16.8 $ (0.4) $ 16.4 Long-term Risk Management Assets — — — Total Assets 16.8 (0.4) 16.4 Current Risk Management Liabilities 2.0 (0.6) 1.4 Long-term Risk Management Liabilities — — — Total Liabilities 2.0 (0.6) 1.4 Total MTM Derivative Contract Net Assets $ 14.8 $ 0.2 $ 15.0 (a) Derivative instruments within these categories are disclosed as gross. These instruments are subject to master netting agreements and are presented on the balance sheets on a net basis in accordance with the accounting guidance for “Derivatives and Hedging.” (b) Amounts include counterparty netting of risk management and hedging contracts and associated cash collateral in accordance with the accounting guidance for “Derivatives and Hedging.” |
Amount of Gain (Loss) Recognized on Risk Management Contracts | Amount of Gain (Loss) Recognized on Risk Management Contracts Three Months Ended June 30, 2023 Location of Gain (Loss) AEP AEP Texas APCo I&M OPCo PSO SWEPCo (in millions) Vertically Integrated Utilities Revenues $ 17.0 $ — $ — $ — $ — $ — $ — Generation & Marketing Revenues (141.8) — — — — — — Electric Generation, Transmission and Distribution Revenues — — — 17.0 — — — Purchased Electricity, Fuel and Other Consumables Used for Electric Generation 1.3 — 1.3 0.1 — — — Other Operation (0.1) — — — — — — Maintenance (0.3) (0.1) — — — — — Regulatory Assets (a) (12.4) (0.1) 5.9 (1.6) (12.8) (2.3) (0.9) Regulatory Liabilities (a) 102.0 — 17.4 3.6 — 42.4 33.6 Total Gain (Loss) on Risk Management Contracts $ (34.3) $ (0.2) $ 24.6 $ 19.1 $ (12.8) $ 40.1 $ 32.7 Three Months Ended June 30, 2022 Location of Gain (Loss) AEP AEP Texas APCo I&M OPCo PSO SWEPCo (in millions) Vertically Integrated Utilities Revenues $ 0.1 $ — $ — $ — $ — $ — $ — Generation & Marketing Revenues 121.0 — — — — — — Purchased Electricity, Fuel and Other Consumables Used for Electric Generation 0.9 — 0.7 — — 0.1 — Other Operation 1.7 0.5 0.2 0.2 0.3 0.2 0.3 Maintenance 2.4 0.7 0.4 0.2 0.4 0.3 0.4 Regulatory Assets (a) 21.4 0.1 0.1 0.3 21.0 — (0.1) Regulatory Liabilities (a) 110.4 — 21.6 1.5 1.6 39.0 36.9 Total Gain on Risk Management Contracts $ 257.9 $ 1.3 $ 23.0 $ 2.2 $ 23.3 $ 39.6 $ 37.5 Six Months Ended June 30, 2023 Location of Gain (Loss) AEP AEP Texas APCo I&M OPCo PSO SWEPCo (in millions) Vertically Integrated Utilities Revenues $ 11.7 $ — $ — $ — $ — $ — $ — Generation & Marketing Revenues (289.2) — — — — — — Electric Generation, Transmission and Distribution Revenues — — — 11.7 — — — Purchased Electricity, Fuel and Other Consumables Used for Electric Generation 2.0 — 1.9 0.1 — — — Other Operation (0.1) — — — — — — Maintenance (0.2) (0.1) — — — — — Regulatory Assets (a) (37.2) (0.5) (1.2) (2.1) (25.1) (3.5) (2.4) Regulatory Liabilities (a) 100.5 — (8.8) 4.8 — 60.4 45.5 Total Gain (Loss) on Risk Management Contracts $ (212.5) $ (0.6) $ (8.1) $ 14.5 $ (25.1) $ 56.9 $ 43.1 Six Months Ended June 30, 2022 Location of Gain (Loss) AEP AEP Texas APCo I&M OPCo PSO SWEPCo (in millions) Vertically Integrated Utilities Revenues $ 0.1 $ — $ — $ — $ — $ — $ — Generation & Marketing Revenues 273.3 — — — — — — Electric Generation, Transmission and Distribution Revenues — — 0.1 (0.1) — — — Purchased Electricity, Fuel and Other Consumables Used for Electric Generation 2.4 — 2.1 — — 0.1 — Other Operation 2.3 0.7 0.2 0.3 0.4 0.3 0.4 Maintenance 3.2 0.9 0.5 0.3 0.5 0.4 0.5 Regulatory Assets (a) 45.0 0.1 — (1.3) 44.9 3.6 (2.2) Regulatory Liabilities (a) 146.9 0.9 20.2 3.2 1.6 51.7 57.8 Total Gain on Risk Management Contracts $ 473.2 $ 2.6 $ 23.1 $ 2.4 $ 47.4 $ 56.1 $ 56.5 (a) Represents realized and unrealized gains and losses subject to regulatory accounting treatment recorded as either current or noncurrent on the balance sheets. |
Impact of Fair Value Hedges on the Condensed Balance Sheet | Carrying Amount of the Hedged Liabilities Cumulative Amount of Fair Value Hedging Adjustment Included in the Carrying Amount of the Hedged Liabilities June 30, 2023 December 31, 2022 June 30, 2023 December 31, 2022 (in millions) Long-term Debt (a) (b) $ (855.1) $ (855.5) $ 90.8 $ 89.7 (a) Amounts included on the Balance Sheet within Noncurrent Liabilities line item Long-term Debt. |
Gain (Loss) on Hedging Instruments | Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 (in millions) Gain (Loss) on Interest Rate Contracts: Fair Value Hedging Instruments (a) $ (4.2) $ (17.6) $ 2.7 $ (62.4) Fair Value Portion of Long-term Debt (a) 4.2 17.6 (2.7) 62.4 (a) Gain (Loss) is included in Interest Expense on the statements of income. |
Impact of Cash Flow Hedges on the Condensed Balance Sheet | Impact of Cash Flow Hedges on AEP’s Balance Sheets June 30, 2023 December 31, 2022 Commodity Interest Rate Commodity Interest Rate (in millions) AOCI Gain Net of Tax $ 93.5 $ 12.7 $ 223.5 $ 0.3 Portion Expected to be Reclassed to Net Income During the Next Twelve Months 24.1 4.3 119.9 0.3 Impact of Cash Flow Hedges on the Registrant Subsidiaries’ Balance Sheets June 30, 2023 December 31, 2022 Interest Rate Expected to be Expected to be Reclassified to Reclassified to Net Income During Net Income During AOCI Gain (Loss) the Next AOCI Gain (Loss) the Next Company Net of Tax Twelve Months Net of Tax Twelve Months (in millions) AEP Texas $ 2.9 $ 0.3 $ (0.3) $ (0.2) APCo 6.3 0.8 6.7 0.8 I&M (5.7) (0.4) (5.1) (0.6) PSO (0.2) — 1.3 0.1 SWEPCo 1.4 0.3 1.1 0.2 |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Book Values and Fair Values of Long-term Debt | June 30, 2023 December 31, 2022 Company Book Value Fair Value Book Value Fair Value (in millions) AEP (a) $ 40,142.3 $ 36,351.3 $ 36,801.0 $ 32,915.9 AEP Texas 5,937.5 5,295.5 5,657.8 5,045.8 AEPTCo 5,473.0 4,719.2 4,782.8 3,940.5 APCo 5,599.7 5,298.4 5,410.5 5,079.2 I&M 3,464.1 3,174.2 3,260.8 2,929.0 OPCo 3,365.6 2,878.8 2,970.3 2,516.6 PSO 2,383.9 2,106.1 1,912.8 1,635.8 SWEPCo 3,645.6 3,135.3 3,391.6 2,870.9 |
Other Temporary Investments | June 30, 2023 Gross Gross Unrealized Unrealized Fair Other Temporary Investments and Restricted Cash Cost Gains Losses Value (in millions) Restricted Cash (a) $ 45.8 $ — $ — $ 45.8 Other Cash Deposits 15.9 — — 15.9 Fixed Income Securities – Mutual Funds (b) 155.7 — (8.9) 146.8 Equity Securities – Mutual Funds 15.4 24.4 — 39.8 Total Other Temporary Investments and Restricted Cash $ 232.8 $ 24.4 $ (8.9) $ 248.3 December 31, 2022 Gross Gross Unrealized Unrealized Fair Other Temporary Investments and Restricted Cash Cost Gains Losses Value (in millions) Restricted Cash (a) $ 47.1 $ — $ — $ 47.1 Other Cash Deposits 9.0 — — 9.0 Fixed Income Securities – Mutual Funds (b) 152.4 — (8.3) 144.1 Equity Securities – Mutual Funds 15.1 19.4 — 34.5 Total Other Temporary Investments and Restricted Cash $ 223.6 $ 19.4 $ (8.3) $ 234.7 (a) Primarily represents amounts held for the repayment of debt. (b) Primarily short and intermediate maturities which may be sold and do not contain maturity dates. |
Debt and Equity Securities Within Other Temporary Investments | Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 (in millions) Proceeds from Investment Sales $ — $ 11.1 $ — $ 15.0 Purchases of Investments 1.3 0.8 2.3 1.6 Gross Realized Gains on Investment Sales — 3.3 — 3.6 Gross Realized Losses on Investment Sales — 0.4 — 0.5 |
Nuclear Trust Fund Investments | June 30, 2023 December 31, 2022 Gross Gross Other-Than- Gross Gross Other-Than- Fair Unrealized Unrealized Temporary Fair Unrealized Unrealized Temporary Value Gains Losses Impairments Value Gains Losses Impairments (in millions) Cash and Cash Equivalents $ 24.2 $ — $ — $ — $ 21.2 $ — $ — $ — Fixed Income Securities: United States Government 1,191.9 9.9 (13.8) (25.6) 1,123.8 11.8 (14.9) (18.8) Corporate Debt 68.8 0.8 (6.6) (1.7) 61.6 0.7 (7.7) (9.6) State and Local Government 3.3 — — — 3.3 0.1 — (0.1) Subtotal Fixed Income Securities 1,264.0 10.7 (20.4) (27.3) 1,188.7 12.6 (22.6) (28.5) Equity Securities - Domestic 2,360.6 1,725.7 (4.6) — 2,131.3 1,483.7 (6.4) — Spent Nuclear Fuel and Decommissioning Trusts $ 3,648.8 $ 1,736.4 $ (25.0) $ (27.3) $ 3,341.2 $ 1,496.3 $ (29.0) $ (28.5) |
Securities Activity Within the Decommissioning and SNF Trusts | Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 (in millions) Proceeds from Investment Sales $ 688.7 $ 736.4 $ 1,206.3 $ 1,229.9 Purchases of Investments 697.0 745.5 1,233.3 1,253.2 Gross Realized Gains on Investment Sales 6.4 10.9 54.8 16.7 Gross Realized Losses on Investment Sales 3.7 17.9 12.3 25.1 |
Contractual Maturities, Fair Value of Debt Securities in Nuclear Trusts | Fair Value of Fixed Income Securities (in millions) Within 1 year $ 325.0 After 1 year through 5 years 496.9 After 5 years through 10 years 219.2 After 10 years 222.9 Total $ 1,264.0 |
Fair Value, Assets and Liabilities Measured on Recurring Basis | AEP Assets and Liabilities Measured at Fair Value on a Recurring Basis June 30, 2023 Level 1 Level 2 Level 3 Other Total Assets: (in millions) Other Temporary Investments and Restricted Cash Restricted Cash $ 45.8 $ — $ — $ — $ 45.8 Other Cash Deposits (a) — — — 15.9 15.9 Fixed Income Securities – Mutual Funds 146.8 — — — 146.8 Equity Securities – Mutual Funds (b) 39.8 — — — 39.8 Total Other Temporary Investments and Restricted Cash 232.4 — — 15.9 248.3 Risk Management Assets Risk Management Commodity Contracts (c) (d) 12.5 893.6 276.5 (756.9) 425.7 Cash Flow Hedges: Commodity Hedges (c) — 118.4 19.4 (17.2) 120.6 Total Risk Management Assets 12.5 1,012.0 295.9 (774.1) 546.3 Spent Nuclear Fuel and Decommissioning Trusts Cash and Cash Equivalents (e) 13.3 — — 10.9 24.2 Fixed Income Securities: United States Government — 1,191.9 — — 1,191.9 Corporate Debt — 68.8 — — 68.8 State and Local Government — 3.3 — — 3.3 Subtotal Fixed Income Securities — 1,264.0 — — 1,264.0 Equity Securities – Domestic (b) 2,360.6 — — — 2,360.6 Total Spent Nuclear Fuel and Decommissioning Trusts 2,373.9 1,264.0 — 10.9 3,648.8 Total Assets $ 2,618.8 $ 2,276.0 $ 295.9 $ (747.3) $ 4,443.4 Liabilities: Risk Management Liabilities Risk Management Commodity Contracts (c) (d) $ 26.5 $ 848.3 $ 169.8 $ (719.4) $ 325.2 Cash Flow Hedges: Commodity Hedges (c) — 18.8 — (17.2) 1.6 Fair Value Hedges — 124.7 — — 124.7 Total Risk Management Liabilities $ 26.5 $ 991.8 $ 169.8 $ (736.6) $ 451.5 AEP Assets and Liabilities Measured at Fair Value on a Recurring Basis December 31, 2022 Level 1 Level 2 Level 3 Other Total Assets: (in millions) Other Temporary Investments and Restricted Cash Restricted Cash $ 47.1 $ — $ — $ — $ 47.1 Other Cash Deposits (a) — — — 9.0 9.0 Fixed Income Securities – Mutual Funds 144.1 — — — 144.1 Equity Securities – Mutual Funds (b) 34.5 — — — 34.5 Total Other Temporary Investments and Restricted Cash 225.7 — — 9.0 234.7 Risk Management Assets Risk Management Commodity Contracts (c) (f) 15.0 1,197.5 314.4 (1,211.5) 315.4 Cash Flow Hedges: Commodity Hedges (c) — 332.6 26.7 (52.8) 306.5 Interest Rate Hedges — 11.0 — — 11.0 Total Risk Management Assets 15.0 1,541.1 341.1 (1,264.3) 632.9 Spent Nuclear Fuel and Decommissioning Trusts Cash and Cash Equivalents (e) 11.3 — — 9.9 21.2 Fixed Income Securities: United States Government — 1,123.8 — — 1,123.8 Corporate Debt — 61.6 — — 61.6 State and Local Government — 3.3 — — 3.3 Subtotal Fixed Income Securities — 1,188.7 — — 1,188.7 Equity Securities – Domestic (b) 2,131.3 — — — 2,131.3 Total Spent Nuclear Fuel and Decommissioning Trusts 2,142.6 1,188.7 — 9.9 3,341.2 Total Assets $ 2,383.3 $ 2,729.8 $ 341.1 $ (1,245.4) $ 4,208.8 Liabilities: Risk Management Liabilities Risk Management Commodity Contracts (c) (f) $ 21.8 $ 870.9 $ 179.0 $ (731.9) $ 339.8 Cash Flow Hedges: Commodity Hedges (c) — 74.3 1.7 (52.8) 23.2 Fair Value Hedges — 127.4 — — 127.4 Total Risk Management Liabilities $ 21.8 $ 1,072.6 $ 180.7 $ (784.7) $ 490.4 AEP Texas Assets and Liabilities Measured at Fair Value on a Recurring Basis June 30, 2023 Level 1 Level 2 Level 3 Other Total Assets: (in millions) Restricted Cash for Securitized Funding $ 30.7 $ — $ — $ — $ 30.7 Liabilities: Risk Management Liabilities Risk Management Commodity Contracts (c) $ — $ 0.5 $ — $ (0.5) $ — December 31, 2022 Level 1 Level 2 Level 3 Other Total Assets: (in millions) Restricted Cash for Securitized Funding $ 32.7 $ — $ — $ — $ 32.7 APCo Assets and Liabilities Measured at Fair Value on a Recurring Basis June 30, 2023 Level 1 Level 2 Level 3 Other Total Assets: (in millions) Restricted Cash for Securitized Funding $ 15.1 $ — $ — $ — $ 15.1 Risk Management Assets Risk Management Commodity Contracts (c) (g) — 1.6 41.1 (3.3) 39.4 Total Assets $ 15.1 $ 1.6 $ 41.1 $ (3.3) $ 54.5 Liabilities: Risk Management Liabilities Risk Management Commodity Contracts (c) (g) $ — $ 3.4 $ 1.7 $ (4.0) $ 1.1 December 31, 2022 Level 1 Level 2 Level 3 Other Total Assets: (in millions) Restricted Cash for Securitized Funding $ 14.4 $ — $ — $ — $ 14.4 Risk Management Assets Risk Management Commodity Contracts (c) (g) — 0.7 69.4 (1.0) 69.1 Total Assets $ 14.4 $ 0.7 $ 69.4 $ (1.0) $ 83.5 Liabilities: Risk Management Liabilities Risk Management Commodity Contracts (c) (g) $ — $ 4.6 $ 0.3 $ (1.4) $ 3.5 I&M Assets and Liabilities Measured at Fair Value on a Recurring Basis June 30, 2023 Level 1 Level 2 Level 3 Other Total Assets: (in millions) Risk Management Assets Risk Management Commodity Contracts (c) (g) $ — $ 25.6 $ 8.2 $ (3.3) $ 30.5 Spent Nuclear Fuel and Decommissioning Trusts Cash and Cash Equivalents (e) 13.3 — — 10.9 24.2 Fixed Income Securities: United States Government — 1,191.9 — — 1,191.9 Corporate Debt — 68.8 — — 68.8 State and Local Government — 3.3 — — 3.3 Subtotal Fixed Income Securities — 1,264.0 — — 1,264.0 Equity Securities - Domestic (b) 2,360.6 — — — 2,360.6 Total Spent Nuclear Fuel and Decommissioning Trusts 2,373.9 1,264.0 — 10.9 3,648.8 Total Assets $ 2,373.9 $ 1,289.6 $ 8.2 $ 7.6 $ 3,679.3 Liabilities: Risk Management Liabilities Risk Management Commodity Contracts (c) (g) $ — $ 3.8 $ 1.4 $ (3.8) $ 1.4 December 31, 2022 Level 1 Level 2 Level 3 Other Total Assets: (in millions) Risk Management Assets Risk Management Commodity Contracts (c) (g) $ — $ 11.3 $ 5.3 $ (1.2) $ 15.4 Spent Nuclear Fuel and Decommissioning Trusts Cash and Cash Equivalents (e) 11.3 — — 9.9 21.2 Fixed Income Securities: United States Government — 1,123.8 — — 1,123.8 Corporate Debt — 61.6 — — 61.6 State and Local Government — 3.3 — — 3.3 Subtotal Fixed Income Securities — 1,188.7 — — 1,188.7 Equity Securities - Domestic (b) 2,131.3 — — — 2,131.3 Total Spent Nuclear Fuel and Decommissioning Trusts 2,142.6 1,188.7 — 9.9 3,341.2 Total Assets $ 2,142.6 $ 1,200.0 $ 5.3 $ 8.7 $ 3,356.6 Liabilities: Risk Management Liabilities Risk Management Commodity Contracts (c) (g) $ — $ 0.6 $ 0.7 $ (1.3) $ — OPCo Assets and Liabilities Measured at Fair Value on a Recurring Basis June 30, 2023 Level 1 Level 2 Level 3 Other Total Liabilities: (in millions) Risk Management Liabilities Risk Management Commodity Contracts (c) (g) $ — $ 0.4 $ 54.0 $ (0.4) $ 54.0 December 31, 2022 Level 1 Level 2 Level 3 Other Total Liabilities: (in millions) Risk Management Liabilities Risk Management Commodity Contracts (c) (g) $ — $ — $ 40.0 $ (0.3) $ 39.7 PSO Assets and Liabilities Measured at Fair Value on a Recurring Basis June 30, 2023 Level 1 Level 2 Level 3 Other Total Assets: (in millions) Risk Management Assets Risk Management Commodity Contracts (c) (g) $ — $ 2.9 $ 44.7 $ (2.8) $ 44.8 Liabilities: Risk Management Liabilities Risk Management Commodity Contracts (c) (g) $ — $ 4.8 $ 1.6 $ (3.0) $ 3.4 December 31, 2022 Level 1 Level 2 Level 3 Other Total Assets: (in millions) Risk Management Assets Risk Management Commodity Contracts (c) (g) $ — $ — $ 24.0 $ 1.3 $ 25.3 Cash Flow Hedges: Interest Rate Hedges — 1.6 — (1.6) — Total Assets $ — $ 1.6 $ 24.0 $ (0.3) $ 25.3 Liabilities: Risk Management Liabilities Risk Management Commodity Contracts (c) (g) $ — $ 1.7 $ 0.3 $ (0.4) $ 1.6 SWEPCo Assets and Liabilities Measured at Fair Value on a Recurring Basis June 30, 2023 Level 1 Level 2 Level 3 Other Total Assets: (in millions) Risk Management Assets Risk Management Commodity Contracts (c) (g) $ — $ 0.4 $ 28.1 $ (0.5) $ 28.0 Liabilities: Risk Management Liabilities Risk Management Commodity Contracts (c) (g) $ — $ 0.5 $ 2.1 $ (0.8) $ 1.8 December 31, 2022 Level 1 Level 2 Level 3 Other Total Assets: (in millions) Risk Management Assets Risk Management Commodity Contracts (c) (g) $ — $ 2.2 $ 14.6 $ (0.4) $ 16.4 Liabilities: Risk Management Liabilities Risk Management Commodity Contracts (c) (g) $ — $ 1.6 $ 0.4 $ (0.6) $ 1.4 (a) Amounts in “Other’’ column primarily represent cash deposits in bank accounts with financial institutions or third-parties. Level 1 and Level 2 amounts primarily represent investments in money market funds. (b) Amounts represent publicly traded equity securities and equity-based mutual funds. (c) Amounts in “Other’’ column primarily represent counterparty netting of risk management and hedging contracts and associated cash collateral under the accounting guidance for “Derivatives and Hedging.’’ (d) The June 30, 2023 maturities of the net fair value of risk management contracts prior to cash collateral, assets/(liabilities), were as follows: Level 1 matures $(6) million in 2023 and $(8) million in periods 2024-2026; Level 2 matures $(27) million in 2023, $59 million in periods 2024-2026, $12 million in periods 2027-2028 and $2 million in periods 2029-2033; Level 3 matures $63 million in 2023, $56 million in periods 2024-2026, $1 million in periods 2027-2028 and $(14) million in periods 2029-2033. Risk management commodity contracts are substantially comprised of power contracts. (e) Amounts in “Other’’ column primarily represent accrued interest receivables from financial institutions. Level 1 amounts primarily represent investments in money market funds. (f) The December 31, 2022 maturities of the net fair value of risk management contracts prior to cash collateral, assets/(liabilities), were as follows: Level 1 matures $(7) million in 2023; Level 2 matures $182 million in 2023, $134 million in periods 2024-2026, $10 million in periods 2027-2028 and $1 million in periods 2029-2033; Level 3 matures $128 million in 2023, $6 million in periods 2024-2026, $6 million in periods 2027-2028 and $(5) million in periods 2029-2033. Risk management commodity contracts are substantially comprised of power contracts. (g) Substantially comprised of power contracts for the Registrant Subsidiaries. |
Changes in Fair Value of Net Trading Derivatives and Other Investments | Three Months Ended June 30, 2023 AEP APCo I&M OPCo PSO SWEPCo (in millions) Balance as of March 31, 2023 $ 45.1 $ 5.7 $ 1.1 $ (46.9) $ 9.3 $ 5.8 Realized Gain (Loss) Included in Net Income (or Changes in Net Assets) (a) (b) (86.8) (11.9) (3.2) (1.4) (42.1) (32.8) Unrealized Gain (Loss) Included in Net Income (or Changes in Net Assets) Relating to Assets Still Held at the Reporting Date (a) (15.8) — — — — — Realized and Unrealized Gains (Losses) Included in Other Comprehensive Income (c) 4.7 — — — — — Settlements 62.3 6.2 2.0 1.3 32.8 27.0 Transfers out of Level 3 (e) (3.1) — — — — — Changes in Fair Value Allocated to Regulated Jurisdictions (f) 119.7 39.4 6.9 (7.0) 43.1 26.0 Balance as of June 30, 2023 $ 126.1 $ 39.4 $ 6.8 $ (54.0) $ 43.1 $ 26.0 Three Months Ended June 30, 2022 AEP APCo I&M OPCo PSO SWEPCo (in millions) Balance as of March 31, 2022 $ 82.8 $ 6.6 $ 1.0 $ (68.5) $ 6.5 $ 15.7 Realized Gain (Loss) Included in Net Income (or Changes in Net Assets) (a) (b) 38.6 5.7 (0.3) 0.9 11.9 19.9 Unrealized Gain (Loss) Included in Net Income (or Changes in Net Assets) Relating to Assets Still Held at the Reporting Date (a) (16.8) — — — — — Realized and Unrealized Gains (Losses) Included in Other Comprehensive Income (c) 5.7 — — — — — Settlements (69.3) (12.4) (0.7) — (18.4) (27.9) Transfers into Level 3 (d) (e) 2.4 — — — — — Transfers out of Level 3 (e) 5.8 — — — — — Changes in Fair Value Allocated to Regulated Jurisdictions (f) 234.7 79.7 9.8 19.2 64.5 37.7 Balance as of June 30, 2022 $ 283.9 $ 79.6 $ 9.8 $ (48.4) $ 64.5 $ 45.4 Six Months Ended June 30, 2023 AEP APCo I&M OPCo PSO SWEPCo (in millions) Balance as of December 31, 2022 $ 160.4 $ 69.1 $ 4.6 $ (40.0) $ 23.7 $ 14.2 Realized Gain (Loss) Included in Net Income (or Changes in Net Assets) (a) (b) (97.5) (47.9) (2.3) (1.7) (25.5) (20.3) Unrealized Gain (Loss) Included in Net Income (or Changes in Net Assets) Relating to Assets Still Held at the Reporting Date (a) (3.0) — — — — — Realized and Unrealized Gains (Losses) Included in Other Comprehensive Income (c) (15.0) — — — — — Settlements (23.0) (21.1) (2.2) 2.4 1.8 6.1 Transfers into Level 3 (d) (e) (6.1) — — — — — Transfers out of Level 3 (e) (1.3) — — — — — Changes in Fair Value Allocated to Regulated Jurisdictions (f) 111.6 39.3 6.7 (14.7) 43.1 26.0 Balance as of June 30, 2023 $ 126.1 $ 39.4 $ 6.8 $ (54.0) $ 43.1 $ 26.0 Six Months Ended June 30, 2022 AEP APCo I&M OPCo PSO SWEPCo (in millions) Balance as of December 31, 2021 $ 103.1 $ 41.7 $ (0.7) $ (92.5) $ 12.1 $ 10.9 Realized Gain (Loss) Included in Net Income (or Changes in Net Assets) (a) (b) 68.1 3.0 3.7 2.4 24.2 32.5 Unrealized Gain (Loss) Included in Net Income (or Changes in Net Assets) Relating to Assets Still Held at the Reporting Date (a) (35.7) — — — — — Realized and Unrealized Gains (Losses) Included in Other Comprehensive Income (c) 22.5 — — — — — Settlements (149.0) (44.7) (3.0) 1.4 (36.3) (41.0) Transfers into Level 3 (d) (e) 4.4 — — — — — Transfers out of Level 3 (e) 9.6 — — — — — Changes in Fair Value Allocated to Regulated Jurisdictions (f) 260.9 79.6 9.8 40.3 64.5 43.0 Balance as of June 30, 2022 $ 283.9 $ 79.6 $ 9.8 $ (48.4) $ 64.5 $ 45.4 (a) Included in revenues on the statements of income. (b) Represents the change in fair value between the beginning of the reporting period and the settlement of the risk management commodity contract. (c) Included in cash flow hedges on the statements of comprehensive income. (d) Represents existing assets or liabilities that were previously categorized as Level 2. (e) Transfers are recognized based on their value at the beginning of the reporting period that the transfer occurred. (f) Relates to the net gains (losses) of those contracts that are not reflected on the statements of income. These changes in fair value are recorded as regulatory liabilities for net gains and as regulatory assets for net losses or accounts payable. |
Significant Unobservable Inputs for Level 3 | Significant Unobservable Inputs June 30, 2023 Significant Input/Range Type of Fair Value Valuation Unobservable Weighted Company Input Assets Liabilities Technique Input Low High Average (c) (in millions) AEP Energy Contracts $ 158.4 $ 158.1 Discounted Cash Flow Forward Market Price (a) $ 1.89 $ 90.40 $ 44.95 AEP Natural Gas Contracts 0.2 0.2 Discounted Cash Flow Forward Market Price (b) 2.14 4.21 3.21 AEP FTRs 137.3 11.5 Discounted Cash Flow Forward Market Price (a) (17.92) 11.35 (0.20) APCo Natural Gas Contracts 0.2 — Discounted Cash Flow Forward Market Price (b) 2.91 4.19 3.35 APCo FTRs 40.9 1.7 Discounted Cash Flow Forward Market Price (a) (3.60) 9.53 1.37 I&M FTRs 8.2 1.4 Discounted Cash Flow Forward Market Price (a) (6.02) 9.11 1.07 OPCo Energy Contracts — 54.0 Discounted Cash Flow Forward Market Price (a) 16.97 71.80 41.40 PSO FTRs 44.7 1.6 Discounted Cash Flow Forward Market Price (a) (17.92) 0.87 (4.44) SWEPCo Natural Gas Contracts — 0.2 Discounted Cash Flow Forward Market Price (b) 2.91 4.19 3.35 SWEPCo FTRs 28.1 1.9 Discounted Cash Flow Forward Market Price (a) (17.92) 0.87 (4.44) December 31, 2022 Significant Input/Range Type of Fair Value Valuation Unobservable Weighted Company Input Assets Liabilities Technique Input (a) Low High Average (c) (in millions) AEP Energy Contracts $ 204.0 $ 167.4 Discounted Cash Flow Forward Market Price $ 2.91 $ 187.34 $ 49.14 AEP FTRs 137.1 13.3 Discounted Cash Flow Forward Market Price (36.45) 20.72 1.18 APCo FTRs 69.4 0.3 Discounted Cash Flow Forward Market Price (2.82) 18.88 3.89 I&M FTRs 5.3 0.7 Discounted Cash Flow Forward Market Price 0.16 18.79 1.23 OPCo Energy Contracts — 40.0 Discounted Cash Flow Forward Market Price 2.91 187.34 48.76 PSO FTRs 24.0 0.3 Discounted Cash Flow Forward Market Price (36.45) 3.40 (7.55) SWEPCo FTRs 14.6 0.4 Discounted Cash Flow Forward Market Price (36.45) 3.40 (7.55) (a) Represents market prices in dollars per MWh. (b) Represents market prices in dollars per MMBtu. (c) The weighted average is the product of the forward market price of the underlying commodity and volume weighted by term. |
Sensitivity of Fair Value Measurements | Significant Unobservable Input Position Change in Input Impact on Fair Value Forward Market Price Buy Increase (Decrease) Higher (Lower) Forward Market Price Sell Increase (Decrease) Lower (Higher) |
Income Taxes (Tables)
Income Taxes (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Schedule of Effective Income Tax Rate Reconciliation | Three Months Ended June 30, 2023 AEP AEP Texas AEPTCo APCo I&M OPCo PSO SWEPCo U.S. Federal Statutory Rate 21.0 % 21.0 % 21.0 % 21.0 % 21.0 % 21.0 % 21.0 % 21.0 % Increase (decrease) due to: State Income Tax, net of Federal Benefit 2.1 % 0.6 % 2.6 % 3.2 % 0.7 % 0.8 % 2.0 % (1.6) % Tax Reform Excess ADIT Reversal (6.2) % (1.3) % 0.1 % (4.5) % (6.1) % (8.5) % (17.2) % (4.2) % Production and Investment Tax Credits (9.9) % (0.2) % — % (0.1) % 0.1 % — % (55.1) % (29.2) % Flow Through (1.0) % 0.1 % 0.2 % (5.1) % (4.4) % 1.2 % 0.3 % (0.8) % AFUDC Equity (1.2) % (0.9) % (2.1) % (1.5) % (0.1) % (0.7) % (1.4) % — % Other 0.4 % 0.3 % — % (0.4) % 0.1 % 0.1 % — % 0.7 % Effective Income Tax Rate 5.2 % 19.6 % 21.8 % 12.6 % 11.3 % 13.9 % (50.4) % (14.1) % Three Months Ended June 30, 2022 AEP AEP Texas AEPTCo APCo I&M OPCo PSO SWEPCo U.S. Federal Statutory Rate 21.0 % 21.0 % 21.0 % 21.0 % 21.0 % 21.0 % 21.0 % 21.0 % Increase (decrease) due to: State Income Tax, net of Federal Benefit 1.3 % 0.7 % 2.9 % (1.0) % (1.3) % 1.0 % 3.9 % 2.5 % Tax Reform Excess ADIT Reversal (7.1) % (2.1) % 0.3 % (20.4) % (17.2) % (7.8) % (19.2) % (5.2) % Production and Investment Tax Credits (6.1) % (0.6) % — % — % (3.4) % — % (32.2) % (19.8) % Flow Through (0.1) % 0.2 % 0.4 % (1.4) % (1.2) % 0.2 % 0.3 % — % AFUDC Equity (1.1) % (1.4) % (2.3) % (1.5) % (1.3) % (0.7) % (0.4) % (0.5) % Discrete Tax Adjustments 0.3 % — % — % (6.0) % — % — % — % 0.8 % Other 1.1 % 0.1 % 0.1 % (0.2) % 1.3 % 0.1 % 0.5 % (0.1) % Effective Income Tax Rate 9.3 % 17.9 % 22.4 % (9.5) % (2.1) % 13.8 % (26.1) % (1.3) % Six Months Ended June 30, 2023 AEP AEP Texas AEPTCo APCo I&M OPCo PSO SWEPCo U.S. Federal Statutory Rate 21.0 % 21.0 % 21.0 % 21.0 % 21.0 % 21.0 % 21.0 % 21.0 % Increase (decrease) due to: State Income Tax, net of Federal Benefit 2.0 % 0.5 % 2.6 % 2.6 % 2.4 % 0.9 % 2.0 % (1.2) % Tax Reform Excess ADIT Reversal (6.2) % (1.4) % 0.2 % (4.5) % (7.2) % (7.6) % (17.1) % (4.0) % Production and Investment Tax Credits (9.8) % (0.2) % — % (0.1) % (0.6) % — % (55.2) % (28.2) % Flow Through (0.5) % 0.2 % 0.2 % (0.8) % (2.9) % 0.8 % 0.3 % (0.3) % AFUDC Equity (1.3) % (1.1) % (1.8) % (0.9) % (0.3) % (0.8) % (1.4) % (0.3) % Discrete Tax Adjustments (1.4) % — % — % 2.4 % 1.0 % — % — % — % Other 0.3 % 0.2 % — % (0.1) % 0.1 % 0.1 % 0.1 % 0.1 % Effective Income Tax Rate 4.1 % 19.2 % 22.2 % 19.6 % 13.5 % 14.4 % (50.3) % (12.9) % Six Months Ended June 30, 2022 AEP AEP Texas AEPTCo APCo I&M OPCo PSO SWEPCo U.S. Federal Statutory Rate 21.0 % 21.0 % 21.0 % 21.0 % 21.0 % 21.0 % 21.0 % 21.0 % Increase (decrease) due to: State Income Tax, net of Federal Benefit 1.4 % 0.5 % 2.7 % 1.5 % 0.4 % 0.9 % 3.5 % 2.4 % Tax Reform Excess ADIT Reversal (6.8) % (2.0) % 0.3 % (11.0) % (17.2) % (7.8) % (18.6) % (5.1) % Production and Investment Tax Credits (7.1) % (0.4) % — % — % (2.3) % — % (31.4) % (20.8) % Flow Through 0.1 % 0.2 % 0.3 % 0.6 % (1.6) % 0.6 % 0.3 % (0.2) % AFUDC Equity (1.0) % (1.1) % (1.9) % (1.0) % (0.9) % (0.6) % (0.5) % (0.5) % Discrete Tax Adjustments (0.2) % — % — % (2.6) % — % — % — % 0.5 % Other 0.5 % (0.1) % 0.2 % — % 0.4 % (0.1) % 0.3 % — % Effective Income Tax Rate 7.9 % 18.1 % 22.6 % 8.5 % (0.2) % 14.0 % (25.4) % (2.7) % |
Financing Activities (Tables)
Financing Activities (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Long-term Debt | Type of Debt June 30, 2023 December 31, 2022 (in millions) Senior Unsecured Notes $ 33,491.5 $ 30,174.8 Pollution Control Bonds 1,770.9 1,770.2 Notes Payable 165.8 269.7 Securitization Bonds 432.1 487.8 Spent Nuclear Fuel Obligation (a) 292.3 285.6 Junior Subordinated Notes (b) 2,385.0 2,381.3 Other Long-term Debt 1,604.7 1,431.6 Total Long-term Debt Outstanding 40,142.3 36,801.0 Long-term Debt Due Within One Year 3,380.3 2,486.4 Long-term Debt $ 36,762.0 $ 34,314.6 (a) Pursuant to the Nuclear Waste Policy Act of 1982, I&M, a nuclear licensee, has an obligation to the United States Department of Energy for SNF disposal. The obligation includes a one-time fee for nuclear fuel consumed prior to April 7, 1983. Trust fund assets related to this obligation were $341 million and $330 million as of June 30, 2023 and December 31, 2022, respectively, and are included in Spent Nuclear Fuel and Decommissioning Trusts on the balance sheets. (b) See “Equity Units” section below for additional information. |
Long-term Debt Issuances | Principal Interest Company Type of Debt Amount (a) Rate Due Date Issuances: (in millions) (%) AEP Senior Unsecured Notes $ 850.0 5.63 2033 AEPTCo Senior Unsecured Notes 700.0 5.40 2053 AEP Texas Senior Unsecured Notes 450.0 5.40 2033 APCo Other Long-term Debt 200.0 Variable 2024 I&M Senior Unsecured Notes 500.0 5.63 2053 OPCo Senior Unsecured Notes 400.0 5.00 2033 PSO Senior Unsecured Notes 475.0 5.25 2033 SWEPCo Senior Unsecured Notes 350.0 5.30 2033 Non-Registrant: KPCo Pollution Control Bonds 65.0 4.70 2026 Transource Energy Other Long-term Debt 13.0 Variable 2025 Total Issuances $ 4,003.0 (a) Amounts indicated on the statements of cash flows are net of issuance costs and premium or discount and will not tie to the issuance amounts. |
Retirements and Principal Payments | Principal Interest Company Type of Debt Amount Paid Rate Due Date Retirements and Principal Payments: (in millions) (%) AEP Texas Senior Unsecured Notes $ 125.0 3.09 2023 AEP Texas Securitization Bonds 31.5 2.85 2024 AEP Texas Securitization Bonds 11.7 2.06 2025 APCo Securitization Bonds 9.7 2.01 2023 APCo Securitization Bonds 3.3 3.77 2028 I&M Senior Unsecured Notes 250.0 3.20 2023 I&M Notes Payable 1.2 Variable 2023 I&M Notes Payable 2.4 Variable 2024 I&M Notes Payable 9.2 Variable 2025 I&M Notes Payable 7.9 0.93 2025 I&M Notes Payable 13.7 3.44 2026 I&M Notes Payable 13.6 5.93 2027 I&M Other Long-term Debt 1.2 6.00 2025 OPCo Other Long-term Debt 0.6 1.15 2028 PSO Other Long-term Debt 0.3 3.00 2027 SWEPCo Notes Payable 25.0 6.37 2024 SWEPCo Notes Payable 30.9 4.58 2032 SWEPCo Other Long-term Debt 38.2 4.68 2028 Non-Registrant: KPCo Pollution Control Bonds 65.0 2.35 2023 Transource Energy Senior Unsecured Notes 1.3 2.75 2050 Total Retirements and Principal Payments $ 641.7 |
Utility Money Pool Participants' Money Pool Activity and Authorized Borrowing Limits | Maximum Average Net Loans to Borrowings Maximum Borrowings Average (Borrowings from) Authorized from the Loans to the from the Loans to the the Utility Money Short-term Utility Utility Utility Utility Pool as of Borrowing Company Money Pool Money Pool Money Pool Money Pool June 30, 2023 Limit (in millions) AEP Texas $ 477.5 $ — $ 279.9 $ — $ (135.9) $ 500.0 AEPTCo 471.3 309.4 153.1 85.9 26.9 820.0 (a) APCo 388.6 19.8 295.0 18.9 (247.2) 500.0 I&M 475.3 100.3 174.0 43.0 40.5 500.0 OPCo 485.7 64.7 266.4 40.2 (72.3) 500.0 PSO 375.0 121.5 127.5 74.8 (68.1) 400.0 SWEPCo 401.6 (b) — 220.6 — (32.6) 400.0 (a) Amount represents the combined authorized short-term borrowing limit the State Transcos have from FERC or state regulatory commissions. |
Nonutility Money Pool Activity | Maximum Loans Average Loans Loans to the Nonutility to the Nonutility to the Nonutility Money Pool as of Company Money Pool Money Pool June 30, 2023 (in millions) AEP Texas $ 6.9 $ 6.8 $ 6.9 SWEPCo 2.2 2.1 2.2 |
Direct Borrowing Activity | Maximum Maximum Average Average Borrowings from Loans to Authorized Borrowings Loans Borrowings Loans AEP as of AEP as of Short-term from AEP to AEP from AEP to AEP June 30, 2023 June 30, 2023 Borrowing Limit (in millions) $ 29.4 $ 158.1 $ 2.9 $ 70.2 $ 21.9 $ — $ 50.0 (a) (a) Amount represents the combined authorized short-term borrowing limit the State Transcos have from FERC or state regulatory commissions. |
Maximum and Minimum Interest Rates for Funds Either Borrowed from or Loaned to Utility Money Pool | Six Months Ended June 30, 2023 2022 Maximum Interest Rate 5.69 % 2.11 % Minimum Interest Rate 4.66 % 0.10 % |
Average Interest Rates for Funds Borrowed from and Loaned to Utility Money Pool | Average Interest Rate for Funds Average Interest Rate for Funds Borrowed from the Utility Money Pool Loaned to the Utility Money Pool for Six Months Ended June 30, for Six Months Ended June 30, Company 2023 2022 2023 2022 AEP Texas 5.35 % 0.90 % — % 1.48 % AEPTCo 5.16 % 0.93 % 5.46 % 1.49 % APCo 5.36 % 1.08 % 5.35 % 0.95 % I&M 5.13 % 0.92 % 5.42 % 0.96 % OPCo 5.30 % 0.83 % 5.60 % 1.20 % PSO 5.47 % 1.17 % 5.11 % 0.65 % SWEPCo 5.22 % 1.25 % — % 0.55 % |
Maximum Minimum Average Interest Rates for Funds Borrowed from Loaned to Nonutility Money Pool | Six Months Ended June 30, 2023 Six Months Ended June 30, 2022 Maximum Minimum Average Maximum Minimum Average Interest Rate Interest Rate Interest Rate Interest Rate Interest Rate Interest Rate for Funds for Funds for Funds for Funds for Funds for Funds Loaned to Loaned to Loaned to Loaned to Loaned to Loaned to the Nonutility the Nonutility the Nonutility the Nonutility the Nonutility the Nonutility Company Money Pool Money Pool Money Pool Money Pool Money Pool Money Pool AEP Texas 5.69 % 4.66 % 5.35 % 2.11 % 0.46 % 0.98 % SWEPCo 5.69 % 4.66 % 5.35 % 2.11 % 0.46 % 0.98 % |
Maximum Minimum and Average Interest Rates for Funds Borrowed from and Loaned to AEP | Maximum Minimum Maximum Minimum Average Average Interest Rate Interest Rate Interest Rate Interest Rate Interest Rate Interest Rate Six Months for Funds for Funds for Funds for Funds for Funds for Funds Ended Borrowed Borrowed Loaned Loaned Borrowed Loaned June 30, from AEP from AEP to AEP to AEP from AEP to AEP 2023 5.69 % 4.53 % 5.69 % 4.53 % 5.27 % 5.35 % 2022 2.11 % 0.46 % 2.11 % 0.46 % 1.02 % 0.89 % |
Short Term Debt | June 30, 2023 December 31, 2022 Outstanding Interest Outstanding Interest Company Type of Debt Amount Rate (a) Amount Rate (a) (dollars in millions) AEP Securitized Debt for Receivables (b) $ 750.0 5.45 % $ 750.0 4.67 % AEP Commercial Paper 2,238.7 5.50 % 2,862.2 4.80 % AEP Term Loan 500.0 6.08 % — — % AEP Term Loan 150.0 5.94 % 150.0 5.17 % AEP Term Loan 125.0 5.94 % 125.0 5.17 % AEP Term Loan 100.0 5.94 % 100.0 5.23 % AEP Term Loan — — % 125.0 4.87 % SWEPCo Notes Payable 3.9 7.53 % — — % AEP Total Short-term Debt $ 3,867.6 $ 4,112.2 (a) Weighted-average rate as of June 30, 2023 and December 31, 2022, respectively. (b) Amount of securitized debt for receivables as accounted for under the “Transfers and Servicing” accounting guidance. |
Comparative Accounts Receivable Information | Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 (dollars in millions) Effective Interest Rates on Securitization of Accounts Receivable 5.25 % 0.91 % 5.06 % 0.61 % Net Uncollectible Accounts Receivable Written-Off $ 7.3 $ 6.2 $ 14.1 $ 13.6 |
Customer Accounts Receivable Managed Portfolio | June 30, 2023 December 31, 2022 (in millions) Accounts Receivable Retained Interest and Pledged as Collateral Less Uncollectible Accounts $ 1,184.9 $ 1,167.7 Short-term – Securitized Debt of Receivables 750.0 750.0 Delinquent Securitized Accounts Receivable 49.4 44.2 Bad Debt Reserves Related to Securitization 41.7 39.7 Unbilled Receivables Related to Securitization 392.4 360.9 |
Accounts Receivable and Accrued Unbilled Revenues | Company June 30, 2023 December 31, 2022 (in millions) APCo $ 181.9 $ 194.4 I&M 177.3 166.9 OPCo 477.4 478.6 PSO 177.8 155.5 SWEPCo 191.6 194.0 |
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | Three Months Ended June 30, Six Months Ended June 30, Company 2023 2022 2023 2022 (in millions) APCo $ 4.3 $ 1.5 $ 9.2 $ 2.8 I&M 3.9 2.0 7.8 3.7 OPCo 7.6 7.5 14.9 14.9 PSO 3.5 1.3 6.7 2.2 SWEPCo 4.4 1.5 8.7 2.8 |
Proceeds on Sale of Receivables to AEP Credit | Three Months Ended June 30, Six Months Ended June 30, Company 2023 2022 2023 2022 (in millions) APCo $ 414.9 $ 339.0 $ 921.1 $ 754.5 I&M 497.2 502.4 1,022.6 1,015.8 OPCo 783.9 693.3 1,668.3 1,409.9 PSO 460.2 428.5 876.5 791.9 SWEPCo 460.5 437.2 898.1 831.7 |
Variable Interest Entities (Tab
Variable Interest Entities (Tables) | 6 Months Ended | 12 Months Ended |
Jun. 30, 2023 | Dec. 31, 2022 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||
Consolidated Assets And Liabilities Of Variable Interest Entities | American Electric Power Company, Inc. and Subsidiary Companies Variable Interest Entities June 30, 2023 Registrant Subsidiaries SWEPCo I&M AEP Texas Transition Funding AEP Texas Restoration Funding APCo (in millions) ASSETS Current Assets $ 5.8 $ 72.5 $ 26.9 $ 25.4 $ 13.3 Net Property, Plant and Equipment — 129.3 — — — Other Noncurrent Assets 129.7 63.6 109.5 (a) 157.2 (b) 151.8 (c) Total Assets $ 135.5 $ 265.4 $ 136.4 $ 182.6 $ 165.1 LIABILITIES AND EQUITY Current Liabilities $ 19.8 $ 72.4 $ 74.5 $ 36.7 $ 29.6 Noncurrent Liabilities 115.6 193.0 57.5 144.7 133.6 Equity 0.1 — 4.4 1.2 1.9 Total Liabilities and Equity $ 135.5 $ 265.4 $ 136.4 $ 182.6 $ 165.1 (a) Includes an intercompany item eliminated in consolidation of $12 million. (b) Includes an intercompany item eliminated in consolidation of $7 million. (c) Includes an intercompany item eliminated in consolidation of $2 million . American Electric Power Company, Inc. and Subsidiary Companies Variable Interest Entities June 30, 2023 Other Consolidated VIEs AEP Credit Protected Transource Energy (in millions) ASSETS Current Assets $ 1,186.0 $ 195.1 $ 29.3 Net Property, Plant and Equipment — — 496.6 Other Noncurrent Assets 9.4 — 5.3 Total Assets $ 1,195.4 $ 195.1 $ 531.2 LIABILITIES AND EQUITY Current Liabilities $ 1,132.8 $ 39.7 $ 21.1 Noncurrent Liabilities 0.9 81.9 232.0 Equity 61.7 73.5 278.1 Total Liabilities and Equity $ 1,195.4 $ 195.1 $ 531.2 | American Electric Power Company, Inc. and Subsidiary Companies Variable Interest Entities December 31, 2022 Registrant Subsidiaries SWEPCo I&M AEP Texas Transition Funding AEP Texas Restoration Funding APCo (in millions) ASSETS Current Assets $ 108.3 $ 90.2 $ 27.0 $ 21.1 $ 13.5 Net Property, Plant and Equipment 7.2 179.1 — — — Other Noncurrent Assets 130.0 94.0 140.9 (a) 168.8 (b) 164.6 (c) Total Assets $ 245.5 $ 363.3 $ 167.9 $ 189.9 $ 178.1 LIABILITIES AND EQUITY Current Liabilities $ 25.4 $ 90.0 $ 73.2 $ 31.3 $ 29.3 Noncurrent Liabilities 219.4 273.3 90.4 157.4 146.9 Equity 0.7 — 4.3 1.2 1.9 Total Liabilities and Equity $ 245.5 $ 363.3 $ 167.9 $ 189.9 $ 178.1 (a) Includes an intercompany item eliminated in consolidation of $16 million . (b) Includes an intercompany item eliminated in consolidation of $7 million . (c) Includes an intercompany item eliminated in consolidation of $2 million . American Electric Power Company, Inc. and Subsidiary Companies Variable Interest Entities December 31, 2022 Other Consolidated VIEs AEP Credit Protected Transource Energy Apple Blossom and Black Oak Santa Rita East Dry Lake (in millions) ASSETS Current Assets $ 1,181.0 $ 194.5 $ 23.5 $ 8.3 $ 21.3 $ 4.0 Net Property, Plant and Equipment — — 482.3 216.5 421.6 142.6 Other Noncurrent Assets 9.0 0.3 2.7 13.6 0.1 0.3 Total Assets $ 1,190.0 $ 194.8 $ 508.5 $ 238.4 $ 443.0 $ 146.9 LIABILITIES AND EQUITY Current Liabilities $ 1,087.8 $ 46.4 $ 22.8 $ 4.5 $ 9.6 $ 1.0 Noncurrent Liabilities 0.9 79.1 218.6 5.4 7.3 0.7 Equity 101.3 69.3 267.1 228.5 426.1 145.2 Total Liabilities and Equity $ 1,190.0 $ 194.8 $ 508.5 $ 238.4 $ 443.0 $ 146.9 |
Revenue from Contracts with C_2
Revenue from Contracts with Customers (Tables) | 6 Months Ended |
Jun. 30, 2023 | |
Disaggregated Revenues from Contracts with Customers | Three Months Ended June 30, 2023 Vertically Integrated Utilities Transmission and Distribution Utilities AEP Transmission Holdco Generation & Marketing Corporate and Other Reconciling Adjustments AEP Consolidated (in millions) Retail Revenues: Residential Revenues $ 962.0 $ 574.1 $ — $ — $ — $ — $ 1,536.1 Commercial Revenues 642.7 358.3 — — — — 1,001.0 Industrial Revenues 698.9 152.1 — — — (0.1) 850.9 Other Retail Revenues 58.9 12.3 — — — — 71.2 Total Retail Revenues 2,362.5 1,096.8 — — — (0.1) 3,459.2 Wholesale and Competitive Retail Revenues: Generation Revenues 141.4 — — 19.6 — 0.1 161.1 Transmission Revenues (a) 113.5 184.1 455.8 — — (402.8) 350.6 Renewable Generation Revenues (b) — — — 33.1 — (3.1) 30.0 Retail, Trading and Marketing Revenues (b) — — — 407.7 1.2 (10.1) 398.8 Total Wholesale and Competitive Retail Revenues 254.9 184.1 455.8 460.4 1.2 (415.9) 940.5 Other Revenues from Contracts with Customers (c) 61.9 56.1 4.3 6.2 28.6 (39.9) 117.2 Total Revenues from Contracts with Customers 2,679.3 1,337.0 460.1 466.6 29.8 (455.9) 4,516.9 Other Revenues: Alternative Revenue Programs (b) (d) (4.9) (2.9) (1.5) — — (6.3) (15.6) Other Revenues (b) (e) 0.1 6.1 — (135.2) 2.2 (2.0) (128.8) Total Other Revenues (4.8) 3.2 (1.5) (135.2) 2.2 (8.3) (144.4) Total Revenues $ 2,674.5 $ 1,340.2 $ 458.6 $ 331.4 $ 32.0 $ (464.2) $ 4,372.5 (a) Amounts include affiliated and nonaffiliated revenues. The affiliated revenue for AEP Transmission Holdco was $360 million. The remaining affiliated amounts were immaterial. (b) Amounts include affiliated and nonaffiliated revenues. (c) Amounts include affiliated and nonaffiliated revenues. The affiliated revenue for Corporate and Other was $26 million. The remaining affiliated amounts were immaterial. (d) Alternative revenue programs in certain jurisdictions include regulatory mechanisms that periodically adjust for over/under collection of related revenues. (e) Generation & Marketing includes economic hedge activity. Three Months Ended June 30, 2022 Vertically Integrated Utilities Transmission and Distribution Utilities AEP Transmission Holdco Generation & Marketing Corporate and Other Reconciling Adjustments AEP Consolidated (in millions) Retail Revenues: Residential Revenues $ 979.3 $ 561.6 $ — $ — $ — $ — $ 1,540.9 Commercial Revenues 624.8 331.7 — — — — 956.5 Industrial Revenues 641.8 162.5 — — — — 804.3 Other Retail Revenues 52.9 12.8 — — — — 65.7 Total Retail Revenues 2,298.8 1,068.6 — — — — 3,367.4 Wholesale and Competitive Retail Revenues: Generation Revenues 188.3 — — 83.0 — 0.1 271.4 Transmission Revenues (a) 108.8 164.9 421.6 — — (332.0) 363.3 Renewable Generation Revenues (b) — — — 38.2 — (2.9) 35.3 Retail, Trading and Marketing Revenues (b) — — — 408.3 1.3 (2.3) 407.3 Total Wholesale and Competitive Retail Revenues 297.1 164.9 421.6 529.5 1.3 (337.1) 1,077.3 Other Revenues from Contracts with Customers (c) 49.2 65.9 0.2 1.6 20.9 (21.1) 116.7 Total Revenues from Contracts with Customers 2,645.1 1,299.4 421.8 531.1 22.2 (358.2) 4,561.4 Other Revenues: Alternative Revenue Programs (b) (d) 3.3 (4.6) (43.0) — — (13.1) (57.4) Other Revenues (b) (e) 0.1 6.8 — 128.5 2.3 (2.0) 135.7 Total Other Revenues 3.4 2.2 (43.0) 128.5 2.3 (15.1) 78.3 Total Revenues $ 2,648.5 $ 1,301.6 $ 378.8 $ 659.6 $ 24.5 $ (373.3) $ 4,639.7 (a) Amounts include affiliated and nonaffiliated revenues. The affiliated revenue for AEP Transmission Holdco was $334 million. The remaining affiliated amounts were immaterial. (b) Amounts include affiliated and nonaffiliated revenues. (c) Amounts include affiliated and nonaffiliated revenues. The affiliated revenue for Vertically Integrated Utilities was $5 million. The remaining affiliated amounts were immaterial. (d) Alternative revenue programs in certain jurisdictions include regulatory mechanisms that periodically adjust for over/under collection of related revenues. (e) Generation & Marketing includes economic hedge activity. Three Months Ended June 30, 2023 AEP Texas AEPTCo APCo I&M OPCo PSO SWEPCo (in millions) Retail Revenues: Residential Revenues $ 144.9 $ — $ 324.8 $ 185.2 $ 429.3 $ 186.5 $ 185.1 Commercial Revenues 100.6 — 163.6 141.4 257.8 131.7 153.8 Industrial Revenues 35.2 — 192.5 155.9 116.8 107.8 110.6 Other Retail Revenues 8.7 — 25.2 1.2 3.6 28.3 2.6 Total Retail Revenues 289.4 — 706.1 483.7 807.5 454.3 452.1 Wholesale Revenues: Generation Revenues (a) — — 64.2 63.5 — 4.3 43.9 Transmission Revenues (b) 163.1 444.7 43.9 9.6 21.0 9.9 38.3 Total Wholesale Revenues 163.1 444.7 108.1 73.1 21.0 14.2 82.2 Other Revenues from Contracts with Customers (c) 10.7 4.1 11.8 45.0 45.5 7.2 7.0 Total Revenues from Contracts with Customers 463.2 448.8 826.0 601.8 874.0 475.7 541.3 Other Revenues: Alternative Revenue Programs (d) (e) (2.0) (3.9) 0.5 (2.6) (0.9) (1.0) (3.5) Other Revenues (e) — — — — 6.0 — — Total Other Revenues (2.0) (3.9) 0.5 (2.6) 5.1 (1.0) (3.5) Total Revenues $ 461.2 $ 444.9 $ 826.5 $ 599.2 $ 879.1 $ 474.7 $ 537.8 (a) Amounts include affiliated and nonaffiliated revenues. The affiliated revenue for APCo was $38 million primarily related to the PPA with KGPCo. (b) Amounts include affiliated and nonaffiliated revenues. The affiliated revenue for AEPTCo was $357 million. The remaining affiliated amounts were immaterial. (c) Amounts include affiliated and nonaffiliated revenues. The affiliated revenue for I&M was $17 million primarily related to barging, urea transloading and other transportation services. The remaining affiliated amounts were immaterial. (d) Alternative revenue programs in certain jurisdictions include regulatory mechanisms that periodically adjust for over/under collection of related revenues. (e) Amounts include affiliated and nonaffiliated revenues. Three Months Ended June 30, 2022 AEP Texas AEPTCo APCo I&M OPCo PSO SWEPCo (in millions) Retail Revenues: Residential Revenues $ 174.9 $ — $ 313.2 $ 195.2 $ 386.7 $ 185.2 $ 188.6 Commercial Revenues 110.6 — 152.6 138.6 221.1 121.2 146.0 Industrial Revenues 36.6 — 161.9 160.0 126.0 92.5 97.1 Other Retail Revenues 9.5 — 20.2 1.2 3.4 25.8 4.4 Total Retail Revenues 331.6 — 647.9 495.0 737.2 424.7 436.1 Wholesale Revenues: Generation Revenues (a) — — 63.5 94.2 — 0.3 57.4 Transmission Revenues (b) 143.8 406.1 40.8 8.7 21.1 9.1 39.3 Total Wholesale Revenues 143.8 406.1 104.3 102.9 21.1 9.4 96.7 Other Revenues from Contracts with Customers (c) 5.6 0.2 20.6 25.8 60.2 9.6 6.0 Total Revenues from Contracts with Customers 481.0 406.3 772.8 623.7 818.5 443.7 538.8 Other Revenues: Alternative Revenue Programs (d) (e) (2.2) (41.9) 0.8 7.3 (2.4) (0.8) (2.2) Other Revenues (e) — — — — 6.8 — — Total Other Revenues (2.2) (41.9) 0.8 7.3 4.4 (0.8) (2.2) Total Revenues $ 478.8 $ 364.4 $ 773.6 $ 631.0 $ 822.9 $ 442.9 $ 536.6 (a) Amounts include affiliated and nonaffiliated revenues. The affiliated revenue for APCo was $42 million primarily related to the PPA with KGPCo. (b) Amounts include affiliated and nonaffiliated revenues. The affiliated revenue for AEPTCo was $330 million. The remaining affiliated amounts were immaterial. (c) Amounts include affiliated and nonaffiliated revenues. The affiliated revenue for I&M was $19 million primarily related to barging, urea transloading and other transportation services. The remaining affiliated amounts were immaterial. (d) Alternative revenue programs in certain jurisdictions include regulatory mechanisms that periodically adjust for over/under collection of related revenues. (e) Amounts include affiliated and nonaffiliated revenues. Six Months Ended June 30, 2023 Vertically Integrated Utilities Transmission and Distribution Utilities AEP Transmission Holdco Generation & Marketing Corporate and Other Reconciling Adjustments AEP Consolidated (in millions) Retail Revenues: Residential Revenues $ 2,132.4 $ 1,230.9 $ — $ — $ — $ — $ 3,363.3 Commercial Revenues 1,276.1 734.2 — — — — 2,010.3 Industrial Revenues (a) 1,369.2 365.0 — — — (0.3) 1,733.9 Other Retail Revenues 115.7 24.4 — — — — 140.1 Total Retail Revenues 4,893.4 2,354.5 — — — (0.3) 7,247.6 Wholesale and Competitive Retail Revenues: Generation Revenues 324.2 — — 52.0 — 0.1 376.3 Transmission Revenues (b) 228.2 348.3 905.9 — — (804.6) 677.8 Renewable Generation Revenues (a) — — — 54.4 — (3.2) 51.2 Retail, Trading and Marketing Revenues (c) — — — 821.4 0.9 (10.0) 812.3 Total Wholesale and Competitive Retail Revenues 552.4 348.3 905.9 927.8 0.9 (817.7) 1,917.6 Other Revenues from Contracts with Customers (d) 94.5 98.9 7.9 6.8 58.0 (83.6) 182.5 Total Revenues from Contracts with Customers 5,540.3 2,801.7 913.8 934.6 58.9 (901.6) 9,347.7 Other Revenues: Alternative Revenue Programs (a) (e) (8.0) (14.5) 0.3 — — (3.4) (25.6) Other Revenues (a) (f) — 17.2 — (276.2) 3.2 (2.9) (258.7) Total Other Revenues (8.0) 2.7 0.3 (276.2) 3.2 (6.3) (284.3) Total Revenues $ 5,532.3 $ 2,804.4 $ 914.1 $ 658.4 $ 62.1 $ (907.9) $ 9,063.4 (a) Amounts include affiliated and nonaffiliated revenues. (b) Amounts include affiliated and nonaffiliated revenues. The affiliated revenue for AEP Transmission Holdco was $712 million. The affiliated revenue for Vertically Integrated Utilities was $80 million. The remaining affiliated amounts were immaterial. (c) Amounts include affiliated and nonaffiliated revenues. The affiliated revenue for Generation & Marketing was $10 million. The remaining affiliated amounts were immaterial. (d) Amounts include affiliated and nonaffiliated revenues. The affiliated revenue for Corporate and Other was $55 million. The remaining affiliated amounts were immaterial. (e) Alternative revenue programs in certain jurisdictions include regulatory mechanisms that periodically adjust for over/under collection of related revenues. (f) Generation & Marketing includes economic hedge activity. Six Months Ended June 30, 2022 Vertically Integrated Utilities Transmission and Distribution Utilities AEP Transmission Holdco Generation & Marketing Corporate and Other Reconciling Adjustments AEP Consolidated (in millions) Retail Revenues: Residential Revenues $ 2,130.1 $ 1,162.2 $ — $ — $ — $ — $ 3,292.3 Commercial Revenues 1,197.7 621.4 — — — — 1,819.1 Industrial Revenues 1,204.8 295.8 — — — (0.4) 1,500.2 Other Retail Revenues 100.3 24.4 — — — — 124.7 Total Retail Revenues 4,632.9 2,103.8 — — — (0.4) 6,736.3 Wholesale and Competitive Retail Revenues: Generation Revenues 375.5 — — 123.3 — 0.1 498.9 Transmission Revenues (a) 214.1 319.8 836.1 — — (693.8) 676.2 Renewable Generation Revenues (b) — — — 60.6 — (3.7) 56.9 Retail, Trading and Marketing Revenues (c) — — — 797.1 4.5 (11.3) 790.3 Total Wholesale and Competitive Retail Revenues 589.6 319.8 836.1 981.0 4.5 (708.7) 2,022.3 Other Revenues from Contracts with Customers (d) 110.8 119.7 — 10.2 34.8 (39.7) 235.8 Total Revenues from Contracts with Customers 5,333.3 2,543.3 836.1 991.2 39.3 (748.8) 8,994.4 Other Revenues: Alternative Revenue Programs (b) (e) 2.5 (8.0) (45.9) — — (11.8) (63.2) Other Revenues (b) (f) 0.1 13.1 — 287.7 5.1 (4.9) 301.1 Total Other Revenues 2.6 5.1 (45.9) 287.7 5.1 (16.7) 237.9 Total Revenues $ 5,335.9 $ 2,548.4 $ 790.2 $ 1,278.9 $ 44.4 $ (765.5) $ 9,232.3 (a) Amounts include affiliated and nonaffiliated revenues. The affiliated revenue for AEP Transmission Holdco was $661 million. The remaining affiliated amounts were immaterial. (b) Amounts include affiliated and nonaffiliated revenues. (c) Amounts include affiliated and nonaffiliated revenues. The affiliated revenue for Generation & Marketing was $11 million. The remaining affiliated amounts were immaterial. (d) Amounts include affiliated and nonaffiliated revenues. The affiliated revenue for Corporate and Other was $19 million. The remaining affiliated amounts were immaterial. (e) Alternative revenue programs in certain jurisdictions include regulatory mechanisms that periodically adjust for over/under collection of related revenues. (f) Generation & Marketing includes economic hedge activity. Six Months Ended June 30, 2023 AEP Texas AEPTCo APCo I&M OPCo PSO SWEPCo (in millions) Retail Revenues: Residential Revenues $ 275.6 $ — $ 795.3 $ 424.8 $ 955.3 $ 357.4 $ 361.0 Commercial Revenues 197.9 — 334.9 280.3 536.3 240.8 297.3 Industrial Revenues (a) 74.5 — 378.3 308.5 290.4 206.1 214.8 Other Retail Revenues 17.0 — 51.4 2.5 7.4 52.5 5.2 Total Retail Revenues 565.0 — 1,559.9 1,016.1 1,789.4 856.8 878.3 Wholesale Revenues: Generation Revenues (b) — — 144.4 167.5 — 5.2 83.5 Transmission Revenues (c) 309.4 883.4 85.3 17.7 38.9 21.2 81.2 Total Wholesale Revenues 309.4 883.4 229.7 185.2 38.9 26.4 164.7 Other Revenues from Contracts with Customers (d) 20.4 7.8 24.8 66.4 78.7 9.5 14.9 Total Revenues from Contracts with Customers 894.8 891.2 1,814.4 1,267.7 1,907.0 892.7 1,057.9 Other Revenues: Alternative Revenue Program (a) (e) (4.1) (4.7) (0.2) (5.5) (10.4) (1.0) (4.2) Other Revenues (a) — — — — 17.1 — — Total Other Revenues (4.1) (4.7) (0.2) (5.5) 6.7 (1.0) (4.2) Total Revenues $ 890.7 $ 886.5 $ 1,814.2 $ 1,262.2 $ 1,913.7 $ 891.7 $ 1,053.7 (a) Amounts include affiliated and nonaffiliated revenues. (b) Amounts include affiliated and nonaffiliated revenues. The affiliated revenue for APCo was $85 million primarily relating to the PPA with KGPCo. The remaining affiliated amounts were immaterial. (c) Amounts include affiliated and nonaffiliated revenues. The affiliated revenue for AEPTCo was $706 million. The remaining affiliated amounts were immaterial. (d) Amounts include affiliated and nonaffiliated revenues. The affiliated revenue for I&M was $35 million primarily relating to barging, urea transloading and other transportation services. The remaining affiliated amounts were immaterial. (e) Alternative revenue programs in certain jurisdictions include regulatory mechanisms that periodically adjust for over/under collection of related revenues. Six Months Ended June 30, 2022 AEP Texas AEPTCo APCo I&M OPCo PSO SWEPCo (in millions) Retail Revenues: Residential Revenues $ 316.8 $ — $ 771.2 $ 427.0 $ 845.4 $ 351.1 $ 364.5 Commercial Revenues 205.5 — 306.5 265.2 415.8 218.7 276.5 Industrial Revenues 67.2 — 315.7 296.5 228.7 171.1 181.8 Other Retail Revenues 17.7 — 40.8 2.5 6.7 47.0 6.8 Total Retail Revenues 607.2 — 1,434.2 991.2 1,496.6 787.9 829.6 Wholesale Revenues: Generation Revenues (a) — — 119.7 184.6 — 9.8 118.6 Transmission Revenues (b) 276.9 806.4 81.9 17.5 42.9 18.7 74.5 Total Wholesale Revenues 276.9 806.4 201.6 202.1 42.9 28.5 193.1 Other Revenues from Contracts with Customers (c) 14.9 (0.1) 44.9 55.7 104.8 15.0 11.3 Total Revenues from Contracts with Customers 899.0 806.3 1,680.7 1,249.0 1,644.3 831.4 1,034.0 Other Revenues: Alternative Revenue Program (d) (e) (3.5) (41.5) 0.1 7.3 (4.5) (0.9) (2.6) Other Revenues (e) — — 0.1 (0.1) 13.1 — — Total Other Revenues (3.5) (41.5) 0.2 7.2 8.6 (0.9) (2.6) Total Revenues $ 895.5 $ 764.8 $ 1,680.9 $ 1,256.2 $ 1,652.9 $ 830.5 $ 1,031.4 (a) Amounts include affiliated and nonaffiliated revenues. The affiliated revenue for APCo was $78 million primarily relating to the PPA with KGPCo. (b) Amounts include affiliated and nonaffiliated revenues. The affiliated revenue for AEPTCo was $653 million. The remaining affiliated amounts were immaterial. (c) Amounts include affiliated and nonaffiliated revenues. The affiliated revenue for I&M was $29 million primarily relating to barging, urea transloading and other transportation services. The remaining affiliated amounts were immaterial. (d) Alternative revenue programs in certain jurisdictions include regulatory mechanisms that periodically adjust for over/under collection of related revenues. (e) Amounts include affiliated and nonaffiliated revenues. |
Fixed Performance Obligations | Company 2023 2024-2025 2026-2027 After 2027 Total (in millions) AEP $ 43.6 $ 161.4 $ 137.1 $ 60.9 $ 403.0 APCo 8.1 32.2 25.4 11.6 77.3 I&M 2.2 8.8 8.8 4.5 24.3 |
Affiliated Accounts Receivable Contracts with Customers | Company June 30, 2023 December 31, 2022 (in millions) AEP Texas $ — $ 0.1 AEPTCo 123.1 113.8 APCo 68.1 64.5 I&M 47.3 75.3 OPCo 68.6 49.9 PSO 30.6 18.8 SWEPCo 42.4 19.1 |
Significant Accounting Matter_3
Significant Accounting Matters (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 6 Months Ended | |||||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | ||
Amounts Attributable to AEP Common Shareholders | |||||||
Earnings Attributable to Common Shareholders | $ 521,200 | $ 524,500 | $ 918,200 | $ 1,239,200 | |||
Weighted Average Number of Basic AEP Common Shares Outstanding | 514,879,144 | 513,623,431 | 514,529,837 | 509,857,710 | |||
Total Basic Earnings Per Share Attributable to AEP Common Shareholders | $ 1.01 | $ 1.02 | $ 1.78 | $ 2.43 | |||
Weighted Average Dilutive Effect of: | |||||||
Weighted Average Number of Diluted AEP Common Shares Outstanding | 516,242,919 | 515,162,210 | 515,922,446 | 511,391,735 | |||
Total Diluted Earnings Per Share Attributable to AEP Common Shareholders | $ 1.01 | $ 1.02 | $ 1.78 | $ 2.42 | |||
Cash, Cash Equivalents and Restricted Cash | |||||||
Cash and Cash Equivalents | $ 304,900 | $ 304,900 | $ 509,400 | ||||
Restricted Cash | 45,800 | 45,800 | 47,100 | ||||
Total Cash, Cash Equivalents and Restricted Cash | 350,700 | $ 621,200 | 350,700 | $ 621,200 | 556,500 | $ 451,400 | |
Proceeds from Issuance of Debt | [1] | 4,003,000 | |||||
Securities Received as Collateral | 73,000 | 73,000 | 481,000 | ||||
Obligation to Return Securities Received as Collateral | 35,000 | 35,000 | 2,000 | ||||
AEP Texas Inc. [Member] | |||||||
Cash, Cash Equivalents and Restricted Cash | |||||||
Cash and Cash Equivalents | 100 | 100 | 100 | ||||
Restricted Cash | 30,700 | 30,700 | 32,700 | ||||
Total Cash, Cash Equivalents and Restricted Cash | 30,800 | 29,800 | 30,800 | 29,800 | 32,800 | 30,500 | |
AEP Transmission Co [Member] | |||||||
Cash, Cash Equivalents and Restricted Cash | |||||||
Cash and Cash Equivalents | 0 | 0 | 0 | 0 | 0 | 0 | |
Appalachian Power Co [Member] | |||||||
Cash, Cash Equivalents and Restricted Cash | |||||||
Cash and Cash Equivalents | 6,800 | 6,800 | 7,500 | ||||
Restricted Cash | 15,100 | 15,100 | 14,400 | ||||
Total Cash, Cash Equivalents and Restricted Cash | 21,900 | 21,100 | 21,900 | 21,100 | 21,900 | 20,100 | |
Indiana Michigan Power Co [Member] | |||||||
Cash, Cash Equivalents and Restricted Cash | |||||||
Cash and Cash Equivalents | 3,800 | 2,800 | 3,800 | 2,800 | 4,200 | 1,300 | |
Ohio Power Co [Member] | |||||||
Cash, Cash Equivalents and Restricted Cash | |||||||
Cash and Cash Equivalents | 9,700 | 9,700 | 9,600 | ||||
Total Cash, Cash Equivalents and Restricted Cash | 9,700 | 6,900 | 9,700 | 6,900 | 9,600 | 3,000 | |
Public Service Co Of Oklahoma [Member] | |||||||
Cash, Cash Equivalents and Restricted Cash | |||||||
Cash and Cash Equivalents | 4,600 | 3,600 | 4,600 | 3,600 | 4,000 | 1,300 | |
Southwestern Electric Power Co [Member] | |||||||
Amounts Attributable to AEP Common Shareholders | |||||||
Earnings Attributable to Common Shareholders | 81,000 | 76,700 | 121,600 | 120,800 | |||
Cash, Cash Equivalents and Restricted Cash | |||||||
Cash and Cash Equivalents | $ 4,600 | $ 63,700 | $ 4,600 | $ 63,700 | $ 88,400 | $ 51,200 | |
Restricted Stock Units and Performance Share Units [Member] | |||||||
Weighted Average Dilutive Effect of: | |||||||
Weighted Average Dilutive Effect of Shares | 1,300,000 | 1,600,000 | 1,400,000 | 1,500,000 | |||
Dilutive Securities, Effect on Basic Earnings Per Share | $ 0 | $ 0 | $ 0 | $ (0.01) | |||
[1]Amounts indicated on the statements of cash flows are net of issuance costs and premium or discount and will not tie to the issuance amounts. |
Comprehensive Income (Details)
Comprehensive Income (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | |||||
Jun. 30, 2023 | Mar. 31, 2023 | Jun. 30, 2022 | Mar. 31, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | ||
Changes in Accumulated Other Comprehensive Income (Loss) by Component | |||||||
Beginning Balance in AOCI | $ (68.1) | $ 83.7 | $ 430.6 | $ 184.8 | $ 83.7 | $ 184.8 | |
Change in Fair Value Recognized in AOCI | 12.9 | 259.3 | (190.1) | 544.3 | |||
Commodity | |||||||
Generation & Marketing Revenues | 4,372.5 | 4,639.7 | 9,063.4 | 9,232.3 | |||
Interest Rate | |||||||
Interest Expense | 460 | 327.6 | 875.7 | 641 | |||
Amortization Of Pension And Other Postretirement Benefit Plans | |||||||
Reclassification from AOCI, before Income Tax (Expense) Benefit | 23.9 | (163.9) | 67.5 | (213.6) | |||
Income Tax (Expense) Benefit | 28.6 | 54 | 39 | 106.8 | |||
Reclassification from AOCI, Net of Income Tax (Expense) Benefit | 18.8 | (129.5) | 53.3 | (168.7) | |||
Reclassifications of KPCo Pension and OPEB Regulatory Assets, Net of Tax | 0 | 0 | 16.7 | 0 | |||
Net Current Period Other Comprehensive Income (Loss) | 31.7 | (151.8) | 120.8 | 245.8 | (120.1) | 366.6 | |
Ending Balance in AOCI | (36.4) | (68.1) | 551.4 | 430.6 | (36.4) | 551.4 | |
Cash Flow Hedges [Member] | Commodity [Member] | |||||||
Changes in Accumulated Other Comprehensive Income (Loss) by Component | |||||||
Beginning Balance in AOCI | 65.3 | 223.5 | 404 | 163.7 | 223.5 | 163.7 | |
Change in Fair Value Recognized in AOCI | 5.9 | 257.3 | (189.4) | 535.5 | |||
Amortization Of Pension And Other Postretirement Benefit Plans | |||||||
Reclassification from AOCI, before Income Tax (Expense) Benefit | 28.3 | (161.7) | 75.3 | (209.7) | |||
Reclassification from AOCI, Net of Income Tax (Expense) Benefit | 22.3 | (127.7) | 59.4 | (165.6) | |||
Net Current Period Other Comprehensive Income (Loss) | 28.2 | 129.6 | (130) | 369.9 | |||
Ending Balance in AOCI | 93.5 | 65.3 | 533.6 | 404 | 93.5 | 533.6 | |
Cash Flow Hedges [Member] | Interest Rate [Member] | |||||||
Changes in Accumulated Other Comprehensive Income (Loss) by Component | |||||||
Beginning Balance in AOCI | 6.1 | 0.3 | (13.6) | (21.3) | 0.3 | (21.3) | |
Change in Fair Value Recognized in AOCI | 7 | 2 | 12.2 | 8.8 | |||
Amortization Of Pension And Other Postretirement Benefit Plans | |||||||
Reclassification from AOCI, before Income Tax (Expense) Benefit | (0.5) | 1.1 | 0.2 | 2.2 | |||
Reclassification from AOCI, Net of Income Tax (Expense) Benefit | (0.4) | 0.8 | 0.2 | 1.7 | |||
Net Current Period Other Comprehensive Income (Loss) | 6.6 | 2.8 | 12.4 | 10.5 | |||
Ending Balance in AOCI | 12.7 | 6.1 | (10.8) | (13.6) | 12.7 | (10.8) | |
Pension and OPEB [Member] | |||||||
Changes in Accumulated Other Comprehensive Income (Loss) by Component | |||||||
Beginning Balance in AOCI | (139.5) | (140.1) | 40.2 | 42.4 | (140.1) | 42.4 | |
Change in Fair Value Recognized in AOCI | 0 | 0 | (12.9) | 0 | |||
Amortization Of Pension And Other Postretirement Benefit Plans | |||||||
Reclassification from AOCI, before Income Tax (Expense) Benefit | (3.9) | (3.3) | (8) | (6.1) | |||
Reclassification from AOCI, Net of Income Tax (Expense) Benefit | (3.1) | (2.6) | (6.3) | (4.8) | |||
Net Current Period Other Comprehensive Income (Loss) | (3.1) | (11.6) | (2.5) | (13.8) | |||
Ending Balance in AOCI | (142.6) | $ (139.5) | 28.6 | $ 40.2 | (142.6) | 28.6 | |
Generation and Marketing [Member] | |||||||
Commodity | |||||||
Generation & Marketing Revenues | 318.2 | 654.4 | 645.1 | 1,263.9 | |||
Reclassifications To Accumulated Other Comprehensive Income [Member] | |||||||
Amortization Of Pension And Other Postretirement Benefit Plans | |||||||
Income Tax (Expense) Benefit | (2.4) | (2.4) | |||||
Reclassifications to AOCI, Current Period, before Tax, Attributable to Parent | (11.4) | (11.4) | |||||
Reclassifications of KPCo Pension and OPEB Regulatory Assets, Net of Tax | (9) | (9) | |||||
Reclassifications To Accumulated Other Comprehensive Income [Member] | Cash Flow Hedges [Member] | Commodity [Member] | |||||||
Amortization Of Pension And Other Postretirement Benefit Plans | |||||||
Income Tax (Expense) Benefit | 0 | 0 | |||||
Reclassifications to AOCI, Current Period, before Tax, Attributable to Parent | 0 | 0 | |||||
Reclassifications of KPCo Pension and OPEB Regulatory Assets, Net of Tax | 0 | 0 | |||||
Reclassifications To Accumulated Other Comprehensive Income [Member] | Cash Flow Hedges [Member] | Interest Rate [Member] | |||||||
Amortization Of Pension And Other Postretirement Benefit Plans | |||||||
Income Tax (Expense) Benefit | 0 | 0 | |||||
Reclassifications to AOCI, Current Period, before Tax, Attributable to Parent | 0 | 0 | |||||
Reclassifications of KPCo Pension and OPEB Regulatory Assets, Net of Tax | 0 | 0 | |||||
Reclassifications To Accumulated Other Comprehensive Income [Member] | Pension and OPEB [Member] | Pension Costs | |||||||
Amortization Of Pension And Other Postretirement Benefit Plans | |||||||
Income Tax (Expense) Benefit | (2.4) | (2.4) | |||||
Reclassifications to AOCI, Current Period, before Tax, Attributable to Parent | (11.4) | (11.4) | |||||
Reclassifications of KPCo Pension and OPEB Regulatory Assets, Net of Tax | (9) | (9) | |||||
Reclassifications from Accumulated Other Comprehensive Income [Member] | |||||||
Interest Rate | |||||||
Interest Expense | [1] | (0.5) | 1.1 | 0.2 | 2.2 | ||
Amortization Of Pension And Other Postretirement Benefit Plans | |||||||
Amortization of Prior Service Cost (Credit) | (5.3) | (5.4) | (10.6) | (10.3) | |||
Amortization of Actuarial (Gains) Losses | 1.4 | 2.1 | 2.6 | 4.2 | |||
Income Tax (Expense) Benefit | 5.1 | (34.4) | 14.2 | (44.9) | |||
Reclassifications from Accumulated Other Comprehensive Income [Member] | Reclassification of KPCo Pension and OPEB Regulatory Assets from AOCI | |||||||
Amortization Of Pension And Other Postretirement Benefit Plans | |||||||
Reclassification from AOCI, before Income Tax (Expense) Benefit | 21.1 | ||||||
Income Tax (Expense) Benefit | 4.4 | ||||||
Reclassification from AOCI, Net of Income Tax (Expense) Benefit | 16.7 | ||||||
Reclassifications from Accumulated Other Comprehensive Income [Member] | Cash Flow Hedges [Member] | Commodity [Member] | |||||||
Interest Rate | |||||||
Interest Expense | [1] | 0 | 0 | 0 | 0 | ||
Amortization Of Pension And Other Postretirement Benefit Plans | |||||||
Amortization of Prior Service Cost (Credit) | 0 | 0 | 0 | 0 | |||
Amortization of Actuarial (Gains) Losses | 0 | 0 | 0 | 0 | |||
Income Tax (Expense) Benefit | 6 | (34) | 15.9 | (44.1) | |||
Reclassifications from Accumulated Other Comprehensive Income [Member] | Cash Flow Hedges [Member] | Commodity [Member] | Reclassification of KPCo Pension and OPEB Regulatory Assets from AOCI | |||||||
Amortization Of Pension And Other Postretirement Benefit Plans | |||||||
Reclassification from AOCI, before Income Tax (Expense) Benefit | 0 | ||||||
Income Tax (Expense) Benefit | 0 | ||||||
Reclassification from AOCI, Net of Income Tax (Expense) Benefit | 0 | ||||||
Reclassifications from Accumulated Other Comprehensive Income [Member] | Cash Flow Hedges [Member] | Interest Rate [Member] | |||||||
Interest Rate | |||||||
Interest Expense | [1] | (0.5) | 1.1 | 0.2 | 2.2 | ||
Amortization Of Pension And Other Postretirement Benefit Plans | |||||||
Amortization of Prior Service Cost (Credit) | 0 | 0 | 0 | 0 | |||
Amortization of Actuarial (Gains) Losses | 0 | 0 | 0 | 0 | |||
Income Tax (Expense) Benefit | (0.1) | 0.3 | 0 | 0.5 | |||
Reclassifications from Accumulated Other Comprehensive Income [Member] | Cash Flow Hedges [Member] | Interest Rate [Member] | Reclassification of KPCo Pension and OPEB Regulatory Assets from AOCI | |||||||
Amortization Of Pension And Other Postretirement Benefit Plans | |||||||
Reclassification from AOCI, before Income Tax (Expense) Benefit | 0 | ||||||
Income Tax (Expense) Benefit | 0 | ||||||
Reclassification from AOCI, Net of Income Tax (Expense) Benefit | 0 | ||||||
Reclassifications from Accumulated Other Comprehensive Income [Member] | Pension and OPEB [Member] | |||||||
Interest Rate | |||||||
Interest Expense | [1] | 0 | 0 | 0 | 0 | ||
Amortization Of Pension And Other Postretirement Benefit Plans | |||||||
Amortization of Prior Service Cost (Credit) | (5.3) | (5.4) | (10.6) | (10.3) | |||
Amortization of Actuarial (Gains) Losses | 1.4 | 2.1 | 2.6 | 4.2 | |||
Income Tax (Expense) Benefit | (0.8) | (0.7) | (1.7) | (1.3) | |||
Reclassifications from Accumulated Other Comprehensive Income [Member] | Pension and OPEB [Member] | Reclassification of KPCo Pension and OPEB Regulatory Assets from AOCI | |||||||
Amortization Of Pension And Other Postretirement Benefit Plans | |||||||
Reclassification from AOCI, before Income Tax (Expense) Benefit | 21.1 | ||||||
Income Tax (Expense) Benefit | 4.4 | ||||||
Reclassification from AOCI, Net of Income Tax (Expense) Benefit | 16.7 | ||||||
Reclassifications from Accumulated Other Comprehensive Income [Member] | Generation and Marketing [Member] | |||||||
Commodity | |||||||
Generation & Marketing Revenues | [1] | 0.1 | |||||
Reclassifications from Accumulated Other Comprehensive Income [Member] | Generation and Marketing [Member] | Cash Flow Hedges [Member] | Commodity [Member] | |||||||
Commodity | |||||||
Generation & Marketing Revenues | [1] | 0.1 | |||||
Reclassifications from Accumulated Other Comprehensive Income [Member] | Generation and Marketing [Member] | Cash Flow Hedges [Member] | Interest Rate [Member] | |||||||
Commodity | |||||||
Generation & Marketing Revenues | [1] | 0 | |||||
Reclassifications from Accumulated Other Comprehensive Income [Member] | Generation and Marketing [Member] | Pension and OPEB [Member] | |||||||
Commodity | |||||||
Generation & Marketing Revenues | [1] | 0 | |||||
Reclassifications from Accumulated Other Comprehensive Income [Member] | Purchased Electricity, Fuel and Other Consumables Used for Electric Generation [Member] | |||||||
Commodity | |||||||
Purchased Electricity, Fuel and Other Consumables Used for Electric Generation | [1] | 28.3 | (161.8) | 75.3 | (209.7) | ||
Reclassifications from Accumulated Other Comprehensive Income [Member] | Purchased Electricity, Fuel and Other Consumables Used for Electric Generation [Member] | Cash Flow Hedges [Member] | Commodity [Member] | |||||||
Commodity | |||||||
Purchased Electricity, Fuel and Other Consumables Used for Electric Generation | [1] | 28.3 | (161.8) | 75.3 | (209.7) | ||
Reclassifications from Accumulated Other Comprehensive Income [Member] | Purchased Electricity, Fuel and Other Consumables Used for Electric Generation [Member] | Cash Flow Hedges [Member] | Interest Rate [Member] | |||||||
Commodity | |||||||
Purchased Electricity, Fuel and Other Consumables Used for Electric Generation | [1] | 0 | 0 | 0 | 0 | ||
Reclassifications from Accumulated Other Comprehensive Income [Member] | Purchased Electricity, Fuel and Other Consumables Used for Electric Generation [Member] | Pension and OPEB [Member] | |||||||
Commodity | |||||||
Purchased Electricity, Fuel and Other Consumables Used for Electric Generation | [1] | $ 0 | $ 0 | $ 0 | $ 0 | ||
[1]Amounts reclassified to the referenced line item on the statements of income. |
Rate Matters Regulated Operatio
Rate Matters Regulated Operations (Details) - USD ($) $ in Millions | 6 Months Ended | |||
Jun. 30, 2023 | Dec. 31, 2022 | |||
Public Utilities, General Disclosures [Line Items] | ||||
Net Investment | $ 74,681.4 | $ 73,339.1 | ||
Regulatory Assets, Noncurrent | 4,672.8 | 4,762 | ||
Regulatory Assets, Current | 1,256.4 | 1,310 | ||
AEP Texas Inc. [Member] | ||||
Public Utilities, General Disclosures [Line Items] | ||||
Net Investment | 12,314.7 | 11,681.6 | ||
Regulatory Assets, Noncurrent | 326.5 | 298.3 | ||
AEP Transmission Co [Member] | ||||
Public Utilities, General Disclosures [Line Items] | ||||
Net Investment | 14,037.7 | 13,339.9 | ||
Regulatory Assets, Noncurrent | 5.8 | 7.2 | ||
Appalachian Power Co [Member] | ||||
Public Utilities, General Disclosures [Line Items] | ||||
Net Investment | 12,674 | 12,379.2 | ||
Regulatory Assets, Noncurrent | 891.7 | 1,058.6 | ||
Regulatory Assets, Current | 586 | 473.1 | ||
Indiana Michigan Power Co [Member] | ||||
Public Utilities, General Disclosures [Line Items] | ||||
Net Investment | 7,482.7 | 7,411.5 | ||
Regulatory Assets, Noncurrent | 392.1 | 459.6 | ||
Regulatory Assets, Current | 17.5 | 47.1 | ||
Ohio Power Co [Member] | ||||
Public Utilities, General Disclosures [Line Items] | ||||
Net Investment | 9,002.9 | 8,609.3 | ||
Regulatory Assets, Noncurrent | 406.9 | 327.3 | ||
Public Service Co Of Oklahoma [Member] | ||||
Public Utilities, General Disclosures [Line Items] | ||||
Net Investment | 5,944.3 | 5,626.5 | ||
Regulatory Assets, Noncurrent | 570 | 653.7 | ||
Regulatory Assets, Current | 178.7 | 178.7 | ||
Public Service Co Of Oklahoma [Member] | Northeastern Plant, Unit 3 | Generating Units Probable of Abandonment [Member] | ||||
Public Utilities, General Disclosures [Line Items] | ||||
Net Investment | 120.5 | |||
Accelerated Depreciation Regulatory Asset | 154.9 | |||
Cost of Removal Regulatory Liability | [1] | $ 20.4 | ||
Expected Retirement Date | [2] | 2026 | ||
Depreciation | [3] | $ 14.9 | ||
Southwestern Electric Power Co [Member] | ||||
Public Utilities, General Disclosures [Line Items] | ||||
Net Investment | 8,472.9 | 8,262.2 | ||
Regulatory Assets, Noncurrent | 1,147.2 | 1,042.4 | ||
Net Under-Recovered Fuel Costs | 120 | |||
Regulatory Assets, Current | 213.6 | 353 | ||
Southwestern Electric Power Co [Member] | Dolet Hills Power Station and Related Fuel Operations | ||||
Public Utilities, General Disclosures [Line Items] | ||||
Share of Net Investment in Dolet Hills Power Station | 108 | |||
Southwestern Electric Power Co [Member] | Dolet Hills Power Station and Related Fuel Operations | Arkansas | ||||
Public Utilities, General Disclosures [Line Items] | ||||
Recovery of 2021 Dolet Hills Fuel Costs | 20 | |||
Southwestern Electric Power Co [Member] | Dolet Hills Power Station and Related Fuel Operations | Louisiana Jurisdiction [Member] | ||||
Public Utilities, General Disclosures [Line Items] | ||||
Recovery of 2021 Dolet Hills Fuel Costs | 20 | |||
Approved Deferral of Dolet Hills Fuel Costs | 34 | |||
Recommended Disallowance from Staff or Intervenors | 72 | |||
Southwestern Electric Power Co [Member] | Dolet Hills Power Station and Related Fuel Operations | Texas | ||||
Public Utilities, General Disclosures [Line Items] | ||||
Oxbow Mine Related Costs Recovery Request | 48 | |||
Southwestern Electric Power Co [Member] | Pirkey Power Plant and Related Fuel Operations | ||||
Public Utilities, General Disclosures [Line Items] | ||||
Share of Net Investment in Pirkey Power Plant | 177 | |||
Southwestern Electric Power Co [Member] | Pirkey Power Plant and Related Fuel Operations | Texas | ||||
Public Utilities, General Disclosures [Line Items] | ||||
Oxbow Mine Related Costs Recovery Request | 33 | |||
Southwestern Electric Power Co [Member] | Welsh Plant Unit 1 and 3 | Generating Units Probable of Abandonment [Member] | ||||
Public Utilities, General Disclosures [Line Items] | ||||
Net Investment | 384.3 | |||
Accelerated Depreciation Regulatory Asset | 105.4 | |||
Cost of Removal Regulatory Liability | [4] | $ 58.2 | ||
Expected Retirement Date | [5],[6] | 2028 | ||
Depreciation | [3] | $ 38.6 | ||
Southwestern Electric Power Co [Member] | Dolet Hills Power Station | Arkansas | ||||
Public Utilities, General Disclosures [Line Items] | ||||
Other Asset Impairment Charges | 2 | |||
Southwestern Electric Power Co [Member] | Dolet Hills Power Station | Texas | ||||
Public Utilities, General Disclosures [Line Items] | ||||
Other Asset Impairment Charges | 12 | |||
Regulatory Assets Pending Final Regulatory Approval [Member] | ||||
Public Utilities, General Disclosures [Line Items] | ||||
Regulatory Assets, Noncurrent | 917 | 919.3 | ||
Regulatory Assets Pending Final Regulatory Approval [Member] | AEP Texas Inc. [Member] | ||||
Public Utilities, General Disclosures [Line Items] | ||||
Regulatory Assets, Noncurrent | 87.2 | 67 | ||
Regulatory Assets Pending Final Regulatory Approval [Member] | Appalachian Power Co [Member] | ||||
Public Utilities, General Disclosures [Line Items] | ||||
Regulatory Assets, Noncurrent | 145.6 | 144.5 | ||
Regulatory Assets Pending Final Regulatory Approval [Member] | Indiana Michigan Power Co [Member] | ||||
Public Utilities, General Disclosures [Line Items] | ||||
Regulatory Assets, Noncurrent | 26.7 | 23.7 | ||
Regulatory Assets Pending Final Regulatory Approval [Member] | Ohio Power Co [Member] | ||||
Public Utilities, General Disclosures [Line Items] | ||||
Regulatory Assets, Noncurrent | 52.8 | 33.8 | ||
Regulatory Assets Pending Final Regulatory Approval [Member] | Public Service Co Of Oklahoma [Member] | ||||
Public Utilities, General Disclosures [Line Items] | ||||
Regulatory Assets, Noncurrent | 84.8 | 25.6 | ||
Regulatory Assets Pending Final Regulatory Approval [Member] | Southwestern Electric Power Co [Member] | ||||
Public Utilities, General Disclosures [Line Items] | ||||
Regulatory Assets, Noncurrent | 438.5 | 547.3 | ||
Regulatory Assets Currently Earning Return [Member] | Regulatory Assets Pending Final Regulatory Approval [Member] | Other Regulatory Assets Not Yet Being Recovered [Member] | ||||
Public Utilities, General Disclosures [Line Items] | ||||
Regulatory Assets, Noncurrent | 21.4 | 19.3 | ||
Regulatory Assets Currently Earning Return [Member] | Regulatory Assets Pending Final Regulatory Approval [Member] | February 2021 Severe Storm Fuel Costs | ||||
Public Utilities, General Disclosures [Line Items] | ||||
Regulatory Assets, Noncurrent | [7] | 109.5 | 121.7 | |
Regulatory Assets Currently Earning Return [Member] | Regulatory Assets Pending Final Regulatory Approval [Member] | Pirkey Power Plant Accelerated Depreciation | ||||
Public Utilities, General Disclosures [Line Items] | ||||
Regulatory Assets, Noncurrent | 111.8 | 116.5 | ||
Regulatory Assets Currently Earning Return [Member] | Regulatory Assets Pending Final Regulatory Approval [Member] | Welsh Unit 1 and 3 Accelerated Depreciation | ||||
Public Utilities, General Disclosures [Line Items] | ||||
Regulatory Assets, Noncurrent | 105.4 | 85.6 | ||
Regulatory Assets Currently Earning Return [Member] | Regulatory Assets Pending Final Regulatory Approval [Member] | Dolet Hills Power Station Fuel Costs - Louisiana | ||||
Public Utilities, General Disclosures [Line Items] | ||||
Regulatory Assets, Noncurrent | 33.9 | 32 | ||
Regulatory Assets Currently Earning Return [Member] | Regulatory Assets Pending Final Regulatory Approval [Member] | Mobile Generation Lease Payments | ||||
Public Utilities, General Disclosures [Line Items] | ||||
Regulatory Assets, Noncurrent | 29.4 | 17.6 | ||
Regulatory Assets Currently Earning Return [Member] | Regulatory Assets Pending Final Regulatory Approval [Member] | AEP Texas Inc. [Member] | Mobile Generation Lease Payments | ||||
Public Utilities, General Disclosures [Line Items] | ||||
Regulatory Assets, Noncurrent | 29.4 | 17.6 | ||
Regulatory Assets Currently Earning Return [Member] | Regulatory Assets Pending Final Regulatory Approval [Member] | Appalachian Power Co [Member] | COVID-19 - Virginia | ||||
Public Utilities, General Disclosures [Line Items] | ||||
Regulatory Assets, Noncurrent | 7.2 | 7 | ||
Regulatory Assets Currently Earning Return [Member] | Regulatory Assets Pending Final Regulatory Approval [Member] | Indiana Michigan Power Co [Member] | Other Regulatory Assets Not Yet Being Recovered [Member] | ||||
Public Utilities, General Disclosures [Line Items] | ||||
Regulatory Assets, Noncurrent | 0.1 | 0.1 | ||
Regulatory Assets Currently Earning Return [Member] | Regulatory Assets Pending Final Regulatory Approval [Member] | Southwestern Electric Power Co [Member] | Dolet Hills Power Station Accelerated Depreciation [Member] | ||||
Public Utilities, General Disclosures [Line Items] | ||||
Regulatory Assets, Noncurrent | 12.1 | 9.7 | ||
Regulatory Assets Currently Earning Return [Member] | Regulatory Assets Pending Final Regulatory Approval [Member] | Southwestern Electric Power Co [Member] | Other Regulatory Assets Not Yet Being Recovered [Member] | ||||
Public Utilities, General Disclosures [Line Items] | ||||
Regulatory Assets, Noncurrent | 1.9 | 2.5 | ||
Regulatory Assets Currently Earning Return [Member] | Regulatory Assets Pending Final Regulatory Approval [Member] | Southwestern Electric Power Co [Member] | February 2021 Severe Storm Fuel Costs | ||||
Public Utilities, General Disclosures [Line Items] | ||||
Regulatory Assets, Noncurrent | [8] | 109.5 | 121.7 | |
Regulatory Assets, Current | 37 | 37 | ||
Regulatory Assets Currently Earning Return [Member] | Regulatory Assets Pending Final Regulatory Approval [Member] | Southwestern Electric Power Co [Member] | Pirkey Power Plant Accelerated Depreciation | ||||
Public Utilities, General Disclosures [Line Items] | ||||
Regulatory Assets, Noncurrent | 111.8 | 116.5 | ||
Regulatory Assets Currently Earning Return [Member] | Regulatory Assets Pending Final Regulatory Approval [Member] | Southwestern Electric Power Co [Member] | Welsh Unit 1 and 3 Accelerated Depreciation | ||||
Public Utilities, General Disclosures [Line Items] | ||||
Regulatory Assets, Noncurrent | 105.4 | 85.6 | ||
Regulatory Assets Currently Earning Return [Member] | Regulatory Assets Pending Final Regulatory Approval [Member] | Southwestern Electric Power Co [Member] | Dolet Hills Power Station Fuel Costs - Louisiana | ||||
Public Utilities, General Disclosures [Line Items] | ||||
Regulatory Assets, Noncurrent | 33.9 | 32 | ||
Regulatory Assets Currently Not Earning Return [Member] | Regulatory Assets Pending Final Regulatory Approval [Member] | Plant Retirement Costs - Asset Retirement Obligation Costs [Member] | ||||
Public Utilities, General Disclosures [Line Items] | ||||
Regulatory Assets, Noncurrent | 25.9 | 25.9 | ||
Regulatory Assets Currently Not Earning Return [Member] | Regulatory Assets Pending Final Regulatory Approval [Member] | Storm Related Costs [Member] | ||||
Public Utilities, General Disclosures [Line Items] | ||||
Regulatory Assets, Noncurrent | [9],[10] | 395.4 | [11] | 407.2 |
Regulatory Assets Currently Not Earning Return [Member] | Regulatory Assets Pending Final Regulatory Approval [Member] | Other Regulatory Assets Not Yet Being Recovered [Member] | ||||
Public Utilities, General Disclosures [Line Items] | ||||
Regulatory Assets, Noncurrent | 49.3 | 55.6 | ||
Regulatory Assets Currently Not Earning Return [Member] | Regulatory Assets Pending Final Regulatory Approval [Member] | 2020-2022 Virginia Triennial Review [Member] | ||||
Public Utilities, General Disclosures [Line Items] | ||||
Regulatory Assets, Noncurrent | 35 | 37.9 | ||
Regulatory Assets Currently Not Earning Return [Member] | Regulatory Assets Pending Final Regulatory Approval [Member] | AEP Texas Inc. [Member] | Storm Related Costs [Member] | ||||
Public Utilities, General Disclosures [Line Items] | ||||
Regulatory Assets, Noncurrent | 34.9 | 26.7 | ||
Regulatory Assets Currently Not Earning Return [Member] | Regulatory Assets Pending Final Regulatory Approval [Member] | AEP Texas Inc. [Member] | Other Regulatory Assets Not Yet Being Recovered [Member] | ||||
Public Utilities, General Disclosures [Line Items] | ||||
Regulatory Assets, Noncurrent | 13.6 | 13.4 | ||
Regulatory Assets Currently Not Earning Return [Member] | Regulatory Assets Pending Final Regulatory Approval [Member] | AEP Texas Inc. [Member] | Texas Retail Electric Provider Bad Debt Expense | ||||
Public Utilities, General Disclosures [Line Items] | ||||
Regulatory Assets, Noncurrent | 4.1 | 4.1 | ||
Regulatory Assets Currently Not Earning Return [Member] | Regulatory Assets Pending Final Regulatory Approval [Member] | AEP Texas Inc. [Member] | Vegetation Management Programs | ||||
Public Utilities, General Disclosures [Line Items] | ||||
Regulatory Assets, Noncurrent | 5.2 | 5.2 | ||
Regulatory Assets Currently Not Earning Return [Member] | Regulatory Assets Pending Final Regulatory Approval [Member] | Appalachian Power Co [Member] | Plant Retirement Costs - Asset Retirement Obligation Costs [Member] | ||||
Public Utilities, General Disclosures [Line Items] | ||||
Regulatory Assets, Noncurrent | 25.9 | 25.9 | ||
Regulatory Assets Currently Not Earning Return [Member] | Regulatory Assets Pending Final Regulatory Approval [Member] | Appalachian Power Co [Member] | Storm Related Costs [Member] | ||||
Public Utilities, General Disclosures [Line Items] | ||||
Regulatory Assets, Noncurrent | 72 | 72.6 | ||
Regulatory Assets Currently Not Earning Return [Member] | Regulatory Assets Pending Final Regulatory Approval [Member] | Appalachian Power Co [Member] | Other Regulatory Assets Not Yet Being Recovered [Member] | ||||
Public Utilities, General Disclosures [Line Items] | ||||
Regulatory Assets, Noncurrent | 5.5 | 1.1 | ||
Regulatory Assets Currently Not Earning Return [Member] | Regulatory Assets Pending Final Regulatory Approval [Member] | Appalachian Power Co [Member] | 2020-2022 Virginia Triennial Review [Member] | ||||
Public Utilities, General Disclosures [Line Items] | ||||
Regulatory Assets, Noncurrent | 35 | 37.9 | ||
Regulatory Assets Currently Not Earning Return [Member] | Regulatory Assets Pending Final Regulatory Approval [Member] | Indiana Michigan Power Co [Member] | Storm Related Costs [Member] | ||||
Public Utilities, General Disclosures [Line Items] | ||||
Regulatory Assets, Noncurrent | 23.9 | 21.6 | ||
Regulatory Assets Currently Not Earning Return [Member] | Regulatory Assets Pending Final Regulatory Approval [Member] | Indiana Michigan Power Co [Member] | Other Regulatory Assets Not Yet Being Recovered [Member] | ||||
Public Utilities, General Disclosures [Line Items] | ||||
Regulatory Assets, Noncurrent | 2.7 | 2 | ||
Regulatory Assets Currently Not Earning Return [Member] | Regulatory Assets Pending Final Regulatory Approval [Member] | Ohio Power Co [Member] | Storm Related Costs [Member] | ||||
Public Utilities, General Disclosures [Line Items] | ||||
Regulatory Assets, Noncurrent | [12] | 52.7 | 33.8 | |
Regulatory Assets Currently Not Earning Return [Member] | Regulatory Assets Pending Final Regulatory Approval [Member] | Ohio Power Co [Member] | Other Regulatory Assets Not Yet Being Recovered [Member] | ||||
Public Utilities, General Disclosures [Line Items] | ||||
Regulatory Assets, Noncurrent | 0.1 | 0 | ||
Regulatory Assets Currently Not Earning Return [Member] | Regulatory Assets Pending Final Regulatory Approval [Member] | Ohio Power Co [Member] | Storm-Related Costs Recovery Request [Member] | ||||
Public Utilities, General Disclosures [Line Items] | ||||
Regulatory Assets, Noncurrent | 34 | |||
Regulatory Assets Currently Not Earning Return [Member] | Regulatory Assets Pending Final Regulatory Approval [Member] | Public Service Co Of Oklahoma [Member] | Storm Related Costs [Member] | ||||
Public Utilities, General Disclosures [Line Items] | ||||
Regulatory Assets, Noncurrent | 84.6 | [13] | 25.5 | |
Regulatory Assets Currently Not Earning Return [Member] | Regulatory Assets Pending Final Regulatory Approval [Member] | Public Service Co Of Oklahoma [Member] | Other Regulatory Assets Not Yet Being Recovered [Member] | ||||
Public Utilities, General Disclosures [Line Items] | ||||
Regulatory Assets, Noncurrent | 0.2 | 0.1 | ||
Regulatory Assets Currently Not Earning Return [Member] | Regulatory Assets Pending Final Regulatory Approval [Member] | Public Service Co Of Oklahoma [Member] | Storm-Related Costs Recovery Request [Member] | ||||
Public Utilities, General Disclosures [Line Items] | ||||
Regulatory Assets, Noncurrent | 52 | |||
Regulatory Assets Currently Not Earning Return [Member] | Regulatory Assets Pending Final Regulatory Approval [Member] | Southwestern Electric Power Co [Member] | Storm Related Costs [Member] | ||||
Public Utilities, General Disclosures [Line Items] | ||||
Regulatory Assets, Noncurrent | 48 | [14],[15] | 151.5 | |
Regulatory Assets Currently Not Earning Return [Member] | Regulatory Assets Pending Final Regulatory Approval [Member] | Southwestern Electric Power Co [Member] | Asset Retirement Obligation - Louisiana [Member] | ||||
Public Utilities, General Disclosures [Line Items] | ||||
Regulatory Assets, Noncurrent | 0 | 11.8 | ||
Regulatory Assets Currently Not Earning Return [Member] | Regulatory Assets Pending Final Regulatory Approval [Member] | Southwestern Electric Power Co [Member] | Other Regulatory Assets Not Yet Being Recovered [Member] | ||||
Public Utilities, General Disclosures [Line Items] | ||||
Regulatory Assets, Noncurrent | 15.9 | $ 16 | ||
Regulatory Assets Currently Not Earning Return [Member] | Regulatory Assets Pending Final Regulatory Approval [Member] | Southwestern Electric Power Co [Member] | Storm-Related Costs Recovery Request [Member] | Louisiana Jurisdiction [Member] | ||||
Public Utilities, General Disclosures [Line Items] | ||||
Regulatory Assets, Noncurrent | 28 | |||
Regulatory Assets Currently Not Earning Return [Member] | Regulatory Assets Pending Final Regulatory Approval [Member] | Southwestern Electric Power Co [Member] | Storm-Related Costs Recovery Request [Member] | Texas | ||||
Public Utilities, General Disclosures [Line Items] | ||||
Regulatory Assets, Noncurrent | $ 20 | |||
[1]Includes Northeastern Plant, Unit 4, which was retired in 2016. Removal of Northeastern Plant, Unit 4, will be performed with the removal of Northeastern Plant, Unit 3, after retirement.[2]Northeastern Plant, Unit 3 is currently being recovered through 2040.[3]Represents the amount of annual depreciation that has been collected from customers over the prior 12-month period.[4]Includes Welsh Plant, Unit 2, which was retired in 2016. Removal of Welsh Plant, Unit 2, will be performed with the removal of Welsh Plant, Units 1 and 3, after retirement.[5]Represents projected retirement date of coal assets, units are being evaluated for conversion to natural gas after 2028.[6]Unit 1 is being recovered through 2027 in the Louisiana jurisdiction and through 2037 in the Arkansas and Texas jurisdictions. Unit 3 is being recovered through 2032 in the Louisiana jurisdiction and through 2042 in the Arkansas and Texas jurisdictions.[7]Includes $37 million and $37 million of unrecovered winter storm fuel costs recorded as a current regulatory asset as of June 30, 2023 and December 31, 2022, respectively. See the “February 2021 Severe Winter Weather Impacts in SPP” section below for additional information.[8]Includes $37 million and $37 million of unrecovered winter storm fuel costs recorded as a current regulatory asset as of June 30, 2023 and December 31, 2022, respectively. See the “February 2021 Severe Winter Weather Impacts in SPP” section below for additional information.[9]In April 2023, OPCo filed a request with the PUCO for recovery of $34 million in Ohio storm-related costs.[10]In April 2023, the LPSC issued an order approving the prudence and future recovery of the Louisiana storm-related regulatory assets. See “2021 Louisiana Storm Cost Filing” section below for additional information.[11]In June 2023, storms in the Oklahoma, Louisiana and Texas service territories caused power outages and extensive damage resulting in the deferral of $52 million, $28 million and $20 million, respectively. Recovery of these storm costs will be addressed in a future request.[12]In April 2023, OPCo filed a request with the PUCO for recovery of $34 million in storm costs.[13]In June 2023, storms caused power outages and extensive damage to the Oklahoma service territory, resulting in the deferral of $52 million. Recovery for these storm costs will be included in a future request.[14]In April 2023, the LPSC issued an order approving the prudence and future recovery of the Louisiana storm-related regulatory assets. See “2021 Louisiana Storm Cost Filing” section below for additional information.[15]In June 2023, additional storms in the Louisiana and Texas service territories caused power outages and extensive damage resulting in the deferral of $28 million and $20 million, respectively. Recovery of these storm costs will be addressed in a future request. |
Rate Matters East Companies (De
Rate Matters East Companies (Details) - USD ($) $ in Millions | 6 Months Ended | |
Jun. 30, 2023 | Dec. 31, 2022 | |
Public Utilities, General Disclosures [Line Items] | ||
Net Property, Plant and Equipment | $ 74,681.4 | $ 73,339.1 |
AEP Transmission Co [Member] | ||
Public Utilities, General Disclosures [Line Items] | ||
Net Property, Plant and Equipment | 14,037.7 | 13,339.9 |
Appalachian Power Co [Member] | ||
Public Utilities, General Disclosures [Line Items] | ||
Net Property, Plant and Equipment | 12,674 | 12,379.2 |
Indiana Michigan Power Co [Member] | ||
Public Utilities, General Disclosures [Line Items] | ||
Net Property, Plant and Equipment | 7,482.7 | 7,411.5 |
Ohio Power Co [Member] | ||
Public Utilities, General Disclosures [Line Items] | ||
Net Property, Plant and Equipment | 9,002.9 | $ 8,609.3 |
ENEC Filing | Appalachian Power Co [Member] | ||
Public Utilities, General Disclosures [Line Items] | ||
2021 Requested Increase in ENEC Revenues | 73 | |
2021 Cumulative ENEC Under Recovery | 55 | |
2021 Projected ENEC Cost Incease | 18 | |
2021 Approved ENEC Rate Increase | 7 | |
2021 Approved Reduction in ENEC Projected Costs | 48 | |
2022 Requested Increase in ENEC Rates | 155 | |
2022 Requested Increase in ENEC Rates Second Filing | 297 | |
2022 Approved Projected ENEC Rate Increase | 31 | |
2022 Approved Overall ENEC Rate Increase | 93 | |
2022 Recommended ENEC Under-Recovery Disallowance | 83 | |
2022 Recommended Increase in ENEC Rates | 13 | |
2023 Alt One Annual Increase in ENEC | 293 | |
2023 Alt One Current Year ENEC Increase | 89 | |
2023 Alt One Under Recovery | 200 | |
2023 Alt Two Annual Increase in ENEC Rates | 89 | |
2023 Alt Two Asset Securitization | 1,900 | |
2023 Alt Two Under Recovery | 553 | |
2023 Alt Two Major Storm Expense Deferrals | 88 | |
2023 Alt Two WV Amos and Mountaineer Book Value and CCR and ELG Investments | $ 1,200 | |
Opinion Coal Fired Plants Capacity Factor | 69% | |
Opinion Recommended Disallowance Factor | 52.90% | |
September 2022 Cumulative ENEC Under Recovery Balance | $ 430 | |
Potential Cumulative ENEC Under Recovery Disallowance | 285 | |
Michigan Power Supply Cost Recovery Reconciliation | Indiana Michigan Power Co [Member] | ||
Public Utilities, General Disclosures [Line Items] | ||
Recommended Disallowance | 18 | |
Potential Disallowed Costs | 14 | |
OVEC ICPA Recommended Disallowance | $ 1 | |
2020-2022 Virginia Triennial Review [Member] | Appalachian Power Co [Member] | ||
Public Utilities, General Disclosures [Line Items] | ||
Requested Return on Equity | 10.60% | |
Intervenor Recommended Annual Increase | $ 69 | |
Previously Incurred Costs Deferral Below Authorized ROE Band | 35 | |
Requested Annual Base Rate Increase | 213 | |
Requested Annual Base Rate Increase Vegetation Management Portion | 47 | |
Requested annual Base Rate Incresae Depreciation Expense Portion | $ 35 | |
Intervenor Recommended Return on Equity | 9.20% | |
Intervenor Recommended Base Rate Decrease Depreciation Expense | $ 36 | |
Intervenor Recommended Base Rate Vegetation Management Removal | 40 | |
Intervenor Recommended Base Rate Storm Cost Removal | 23 | |
Intervenor Recommended Base Rate Boiler Maintenance Removal | $ 15 | |
Ohio ESP Filings [Member] | Ohio Power Co [Member] | ||
Public Utilities, General Disclosures [Line Items] | ||
Proprosed ESP Return on Common Equity | 10.65% | |
Fuel Adjustment Clause Purchased Power Limitation [Member] | Kentucky Power Co [Member] | ||
Public Utilities, General Disclosures [Line Items] | ||
Requested Purchased Power Costs Not Recoverable Through FAC Recovery | $ 12 | |
2023 Kentucky Base Rate and Securitization Case [Member] | Kentucky Power Co [Member] | ||
Public Utilities, General Disclosures [Line Items] | ||
Requested Return on Equity | 9.90% | |
Requested Annual Base Rate Increase | $ 94 | |
Requested Purchased Power Costs Not Recoverable Through FAC Recovery | 16 | |
Requested Annual Base Rate Storm Level Restoration Expense | 1 | |
Requested Securitization Bonds Regulatory Assets Recovery | 471 | |
Requested Securitization Bonds Plant Recovery Retirement Costs | 289 | |
Requested Securitization Bonds Deferred Storm Costs | 79 | |
Requested Securitization Bonds Deferred Purchased Power Expenses | 52 | |
Requested Securitization Bonds Under-Recovered Purchased Power Rider Costs | $ 51 |
Rate Matters West Companies (De
Rate Matters West Companies (Details) $ in Millions | 6 Months Ended | |
Jun. 30, 2023 USD ($) MW | Dec. 31, 2022 USD ($) | |
Public Utilities, General Disclosures [Line Items] | ||
Regulatory Assets, Noncurrent | $ 4,672.8 | $ 4,762 |
Regulatory Assets Pending Final Regulatory Approval [Member] | ||
Public Utilities, General Disclosures [Line Items] | ||
Regulatory Assets, Noncurrent | 917 | 919.3 |
Public Service Co Of Oklahoma [Member] | ||
Public Utilities, General Disclosures [Line Items] | ||
Regulatory Assets, Noncurrent | 570 | 653.7 |
Public Service Co Of Oklahoma [Member] | Regulatory Assets Pending Final Regulatory Approval [Member] | ||
Public Utilities, General Disclosures [Line Items] | ||
Regulatory Assets, Noncurrent | 84.8 | 25.6 |
Southwestern Electric Power Co [Member] | ||
Public Utilities, General Disclosures [Line Items] | ||
Regulatory Assets, Noncurrent | 1,147.2 | 1,042.4 |
Southwestern Electric Power Co [Member] | Regulatory Assets Pending Final Regulatory Approval [Member] | ||
Public Utilities, General Disclosures [Line Items] | ||
Regulatory Assets, Noncurrent | 438.5 | 547.3 |
AEP Texas Inc. [Member] | ||
Public Utilities, General Disclosures [Line Items] | ||
Regulatory Assets, Noncurrent | 326.5 | 298.3 |
AEP Texas Inc. [Member] | Regulatory Assets Pending Final Regulatory Approval [Member] | ||
Public Utilities, General Disclosures [Line Items] | ||
Regulatory Assets, Noncurrent | $ 87.2 | 67 |
ETT Interim Transmission Rates [Member] | ||
Public Utilities, General Disclosures [Line Items] | ||
Parent Ownership Interest In ETT | 50% | |
AEP Share Of ETT Cumulative Revenues Subject To Review | $ 1,600 | |
February 2021 Severe Storm Fuel Costs | Southwestern Electric Power Co [Member] | ||
Public Utilities, General Disclosures [Line Items] | ||
Regulatory Assets, Noncurrent | 293.7 | 329 |
February 2021 Severe Storm Fuel Costs | Southwestern Electric Power Co [Member] | Arkansas | ||
Public Utilities, General Disclosures [Line Items] | ||
Regulatory Assets, Noncurrent | $ 66.4 | 74.9 |
Remaining Recovery Period | 6 years | |
February 2021 Severe Storm Fuel Costs | Southwestern Electric Power Co [Member] | Louisiana Jurisdiction [Member] | ||
Public Utilities, General Disclosures [Line Items] | ||
Regulatory Assets, Noncurrent | $ 109.5 | 121.7 |
February 2021 Severe Storm Fuel Costs | Southwestern Electric Power Co [Member] | Texas | ||
Public Utilities, General Disclosures [Line Items] | ||
Regulatory Assets, Noncurrent | $ 117.8 | $ 132.4 |
Approved Carrying Charge | 1.65% | |
Remaining Recovery Period | 5 years | |
2012 Texas Base Rate Case [Member] | Southwestern Electric Power Co [Member] | ||
Public Utilities, General Disclosures [Line Items] | ||
2013 Reversal Of Previously Recorded Regulatory Disallowances | $ 114 | |
Estimated Reduced Annual Revenues | 15 | |
2012 Texas Base Rate Case [Member] | Southwestern Electric Power Co [Member] | Minimum [Member] | ||
Public Utilities, General Disclosures [Line Items] | ||
Estimated Turk AFUDC Disallowance | 80 | |
Estimated Turk AFUDC Refunds | 0 | |
2012 Texas Base Rate Case [Member] | Southwestern Electric Power Co [Member] | Maximum [Member] | ||
Public Utilities, General Disclosures [Line Items] | ||
Estimated Turk AFUDC Disallowance | 90 | |
Estimated Turk AFUDC Refunds | 195 | |
2016 Texas Base Rate Case [Member] | Southwestern Electric Power Co [Member] | ||
Public Utilities, General Disclosures [Line Items] | ||
Requested Net Increase in Texas Annual Revenues | 69 | |
Approved Net Increase in Texas Annual Revenues | $ 50 | |
Approved Return on Common Equity | 9.60% | |
Approved Additional Vegetation Management Expenses | $ 2 | |
Impairment Charge Total | 19 | |
Impairment Charge Welsh Plant, Unit 2 | 7 | |
Impairment Charge Disallowed Plant Investments | 12 | |
Additional Revenues Recognized to be Surcharged to Customers | 32 | |
Additional Recognized Expenses Consisting Primarily of Depreciation and Vegetation Management | $ 7 | |
Requested Return on Equity | 10% | |
2020 Texas Base Rate Case [Member] | Southwestern Electric Power Co [Member] | ||
Public Utilities, General Disclosures [Line Items] | ||
Approved Return on Common Equity | 9.25% | |
Impairment Charge Total | $ 12 | |
Requested Annual Increase | $ 105 | |
Requested Return on Equity | 10.35% | |
Requested Net Annual Increase | $ 90 | |
Revised Requested Annual Increase | 100 | |
Revised Requested Net Annual Increase | 85 | |
Approved Annual Revenue Increase | 39 | |
Amount of Approved Increase Related to Vegetation Management | 5 | |
Amount of Approved Increase Related to Storm Catastrophe Reserve | $ 2 | |
2020 Louisiana Base Rate Case | Southwestern Electric Power Co [Member] | ||
Public Utilities, General Disclosures [Line Items] | ||
Requested Return on Equity | 10.35% | |
Approved Return on Common Equity | 9.50% | |
Requested Annual Increase | $ 134 | |
Revised Requested Annual Increase | 95 | |
Approved Annual Revenue Increase | 27 | |
Authorized Annual Base Rate Increase | 21 | |
Approved Rider to Recover Dolet Hills and Pirkey Costs | 14 | |
Reduction in Fuel Costs | $ 8 | |
2021 Louisiana Storm Cost Filing | Southwestern Electric Power Co [Member] | ||
Public Utilities, General Disclosures [Line Items] | ||
Interim WACC | 3.125% | |
Approved Deferred Storm Costs | $ 150 | |
AEP Texas Interim Transmission and Distribution Rates [Member] | AEP Texas Inc. [Member] | ||
Public Utilities, General Disclosures [Line Items] | ||
AEP Texas Cumulative Revenues Subject to Review | $ 791 | |
2022 Oklahoma Base Rate Case [Member] | Public Service Co Of Oklahoma [Member] | ||
Public Utilities, General Disclosures [Line Items] | ||
Requested Return on Equity | 10.40% | |
Amount of Increase Related to Annual Depreciation Expense | $ 47 | |
Requested Debt Capital Structure | 45.40% | |
Requested Equity Capital Structure | 54.60% | |
Requested Net Increase in Oklahoma Annual Revenues | $ 173 | |
Amount of Increase Related to Annual Amortization Expense | $ 16 | |
Wind Generation MWs | MW | 154 | |
OCC Staff and Intervenor Recommended Plant Investments | $ 9 | |
Contested Joint Agreement Base Rate Annual Revenue Increase | $ 50 | |
Contested Joint Agreement Return on Equity | 9.50% | |
Contested Joint Agreement Debt Capital Structure | 45.40% | |
Contested Joint Agreement Equity Capital Structure | 54.60% | |
Contested Joint Agreement Distribution Investments Recovery | $ 6 | |
Contested Joint Agreement Interim Annual Base Rate Cumulative Revenue Increase | 16 | |
2022 Oklahoma Base Rate Case [Member] | Public Service Co Of Oklahoma [Member] | Minimum [Member] | ||
Public Utilities, General Disclosures [Line Items] | ||
OCC Staff and Intervenor Recommended Annual Revenue Change Range | $ 42 | |
OCC Staff and Intervenor Recommended ROE Range | 8.60% | |
2022 Oklahoma Base Rate Case [Member] | Public Service Co Of Oklahoma [Member] | Maximum [Member] | ||
Public Utilities, General Disclosures [Line Items] | ||
OCC Staff and Intervenor Recommended Annual Revenue Change Range | $ 49 | |
OCC Staff and Intervenor Recommended ROE Range | 9.50% |
Rate Matters FERC (Details)
Rate Matters FERC (Details) - USD ($) $ in Millions | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2021 | |
FERC PJM Transmission Formula Rate Challenge [Member] | |||
Public Utilities, General Disclosures [Line Items] | |||
Stand Alone Treatment of NOLCs Annual Revenue Increase | $ 60 | $ 69 | $ 78 |
FERC RTO Incentive Complaint [Member] | |||
Public Utilities, General Disclosures [Line Items] | |||
Estimated Pretax Income Reduction | 20 | ||
Independence Energy Connection Project [Member] | |||
Public Utilities, General Disclosures [Line Items] | |||
AEP Share of Independence Energy Connection Capital Costs | $ 90 | ||
Ohio Power Co [Member] | Ohio Transmission Company [Member] | FERC RTO Incentive Complaint [Member] | |||
Public Utilities, General Disclosures [Line Items] | |||
Basis Point RTO Incentive | 50% |
Commitments, Guarantees and C_3
Commitments, Guarantees and Contingencies (Details) | 6 Months Ended |
Jun. 30, 2023 USD ($) | |
Maximum Potential Loss [Abstract] | |
Max Potential Loss on Master Lease Agreements | $ 45,000,000 |
Commitments, Guarantees and Contingencies (Textuals) [Abstract] | |
Damages Representing Lost Mining Fees for Sabine | 85,000,000 |
AEP Wind Holdings LLC [Member] | Generation And Marketing [Member] | |
Commitments, Guarantees and Contingencies (Textuals) [Abstract] | |
Maximum Potential Amount of Future Payments Associated with Guarantee | 78,000,000 |
Guarantor Obligations, Current Carrying Value | 5,000,000 |
Guarantor Obligations, Current Carrying Value, Contingent Portion | 1,000,000 |
AEP Texas Inc. [Member] | |
Maximum Potential Loss [Abstract] | |
Max Potential Loss on Master Lease Agreements | 10,900,000 |
Appalachian Power Co [Member] | |
Maximum Potential Loss [Abstract] | |
Max Potential Loss on Master Lease Agreements | 5,600,000 |
Indiana Michigan Power Co [Member] | |
Maximum Potential Loss [Abstract] | |
Max Potential Loss on Master Lease Agreements | 4,200,000 |
Ohio Power Co [Member] | |
Maximum Potential Loss [Abstract] | |
Max Potential Loss on Master Lease Agreements | 7,000,000 |
Public Service Co Of Oklahoma [Member] | |
Maximum Potential Loss [Abstract] | |
Max Potential Loss on Master Lease Agreements | 4,700,000 |
Southwestern Electric Power Co [Member] | |
Maximum Potential Loss [Abstract] | |
Max Potential Loss on Master Lease Agreements | 5,400,000 |
Letters of Credit [Member] | |
Maximum Future Payments for Letters of Credit [Abstract] | |
Maximum Future Payments for Letters of Credit Issued Under the Uncommitted Facility | 288,800,000 |
Commitments, Guarantees and Contingencies (Textuals) [Abstract] | |
Letters of Credit Limit | 1,200,000,000 |
Uncommitted Facility | 450,000,000 |
Letters of Credit [Member] | AEP Texas Inc. [Member] | |
Maximum Future Payments for Letters of Credit [Abstract] | |
Maximum Future Payments for Letters of Credit Issued Under the Uncommitted Facility | 1,800,000 |
March 2027 | Letters of Credit [Member] | |
Commitments, Guarantees and Contingencies (Textuals) [Abstract] | |
Revolving Credit Facilities | 4,000,000,000 |
March 2024 | Letters of Credit [Member] | |
Commitments, Guarantees and Contingencies (Textuals) [Abstract] | |
Revolving Credit Facilities | $ 1,000,000,000 |
Acquisitions and Dispositions (
Acquisitions and Dispositions (Details) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 USD ($) | Jun. 30, 2023 USD ($) GWh MW | Jun. 30, 2022 USD ($) | Dec. 31, 2022 USD ($) | |
Accounts Receivable and Accrued Unbilled Revenues | $ 990,800,000 | $ 1,145,100,000 | ||
Net Property, Plant and Equipment | 74,681,400,000 | 73,339,100,000 | ||
Assets Held for Sale | 1,382,800,000 | 0 | ||
Accounts Payable, Current | 2,433,900,000 | 2,670,800,000 | ||
Liabilities Held for Sale | 64,800,000 | 0 | ||
Proceeds from Sale of Property, Plant, and Equipment | 1,000,000 | $ 208,500,000 | ||
North Central Wind Energy Facilities | ||||
Payments to Acquire Property, Plant, and Equipment | 2,000,000,000 | |||
Transmission Operations [Member] | ||||
Enterprise Value | 2,850,000,000 | |||
Transmission Operations [Member] | Proceeds for KY Operations | ||||
Enterprise Value | 2,646,000,000 | |||
Generation And Marketing [Member] | Proceeds of Mineral Rights Sale | ||||
Proceeds from Sale of Property, Plant, and Equipment | $ 120,000,000 | |||
Gain (Loss) on Disposition of Other Assets | 116,000,000 | |||
Generation And Marketing [Member] | BP Wind Energy | ||||
Impairment of Equity Method Investment | $ 186,000,000 | |||
Generation And Marketing [Member] | Competitive Contracted Renewable Portfolio | ||||
gain (loss) on Disposition of Business net of Tax | (88,500,000) | |||
Accounts Receivable and Accrued Unbilled Revenues | 10,000,000 | |||
Net Property, Plant and Equipment | 1,394,000,000 | |||
Disposal Group, Including Discontinued Operation, Other Assets | 67,300,000 | |||
Disposal Group, Including Discontinued Operation, Assets | 1,471,300,000 | |||
Assets Held for Sale | 1,382,800,000 | |||
Accounts Payable, Current | 4,600,000 | |||
Asset Retirement Obligation | 31,000,000 | |||
Operating Lease, Liability | 21,600,000 | |||
Disposal Group, Including Discontinued Operation, Other Liabilities, Current | 7,600,000 | |||
Liabilities Held for Sale | 64,800,000 | |||
Generation And Marketing [Member] | Competitive Contracted Renewables | ||||
Enterprise Value | $ 1,500,000,000 | |||
Contracted Renewables GWs | GWh | 1.4 | |||
Competitive Contracted Renewables NBV | $ 1,200,000,000 | |||
Equity Method Investment, Ownership Percentage | 50% | |||
Equity Method Investments | $ 246,000,000 | |||
Proceeds from Sale of Productive Assets | 1,200,000,000 | |||
Gain (Loss) on Disposition of Business | 112,000,000 | |||
gain (loss) on Disposition of Business net of Tax | 88,000,000 | |||
Other Noncontrolling Interests | 183,000,000 | |||
EQ Method Investments | 246,000,000 | |||
Deferred Tax Assets, Gross | 23,500,000 | |||
Vertically Integrated Utilities [Member] | ||||
Enterprise Value | 2,850,000,000 | |||
Pretax Reduction in Investment Basis | 335,000,000 | |||
Vertically Integrated Utilities [Member] | Proceeds for KY Operations | ||||
Enterprise Value | $ 2,646,000,000 | |||
Vertically Integrated Utilities [Member] | Sundance [Member] | ||||
Wind Generation MWs | MW | 199 | |||
Vertically Integrated Utilities [Member] | Maverick [Member] | ||||
Wind Generation MWs | MW | 287 | |||
Vertically Integrated Utilities [Member] | Traverse [Member] | ||||
Wind Generation MWs | MW | 998 | |||
Vertically Integrated Utilities [Member] | Traverse [Member] | North Central Wind Energy Facilities | ||||
Payments to Acquire Property, Plant, and Equipment | $ 1,200,000,000 | |||
Vertically Integrated Utilities [Member] | North Central Wind Energy Facilities | ||||
Wind Generation MWs | MW | 1,484 | |||
Public Service Co Of Oklahoma [Member] | ||||
Percentage of an Asset Acquired | 45.50% | |||
Payments to Acquire Property, Plant, and Equipment | $ 146,000,000 | |||
Accounts Receivable and Accrued Unbilled Revenues | 80,500,000 | 70,100,000 | ||
Net Property, Plant and Equipment | 5,944,300,000 | 5,626,500,000 | ||
Accounts Payable, Current | $ 284,200,000 | 202,900,000 | ||
Southwestern Electric Power Co [Member] | ||||
Percentage of an Asset Acquired | 54.50% | |||
Payments to Acquire Property, Plant, and Equipment | $ 0 | $ (658,000,000) | ||
Accounts Receivable and Accrued Unbilled Revenues | 38,600,000 | 38,800,000 | ||
Net Property, Plant and Equipment | 8,472,900,000 | 8,262,200,000 | ||
Accounts Payable, Current | 260,200,000 | 213,100,000 | ||
AEP Transmission Co [Member] | ||||
Accounts Receivable and Accrued Unbilled Revenues | 91,100,000 | 46,900,000 | ||
Net Property, Plant and Equipment | 14,037,700,000 | 13,339,900,000 | ||
Accounts Payable, Current | $ 387,400,000 | $ 427,800,000 |
Benefit Plans (Details)
Benefit Plans (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Pension Plans [Member] | ||||
Components of Net Periodic Benefit Cost | ||||
Service Cost | $ 23.6 | $ 30.8 | $ 47.2 | $ 61.6 |
Interest Cost | 54.8 | 37.1 | 109.6 | 74.1 |
Expected Return on Plan Assets | (84.8) | (63.3) | (169.6) | (126.7) |
Amortization of Net Actuarial Loss | 0.4 | 15.7 | 0.7 | 31.5 |
Net Periodic Benefit Cost (Credit) | (6) | 20.3 | (12.1) | 40.5 |
Pension Plans [Member] | AEP Texas Inc. [Member] | ||||
Components of Net Periodic Benefit Cost | ||||
Service Cost | 2.1 | 2.8 | 4.1 | 5.6 |
Interest Cost | 4.6 | 3 | 9.2 | 6 |
Expected Return on Plan Assets | (7) | (5.2) | (14) | (10.5) |
Amortization of Net Actuarial Loss | 0 | 1.3 | 0 | 2.6 |
Net Periodic Benefit Cost (Credit) | (0.3) | 1.9 | (0.7) | 3.7 |
Pension Plans [Member] | Appalachian Power Co [Member] | ||||
Components of Net Periodic Benefit Cost | ||||
Service Cost | 2.2 | 2.8 | 4.5 | 5.7 |
Interest Cost | 6.6 | 4.4 | 13.2 | 8.8 |
Expected Return on Plan Assets | (11.1) | (8.1) | (22.3) | (16.2) |
Amortization of Net Actuarial Loss | 0 | 1.8 | 0 | 3.6 |
Net Periodic Benefit Cost (Credit) | (2.3) | 0.9 | (4.6) | 1.9 |
Pension Plans [Member] | Indiana Michigan Power Co [Member] | ||||
Components of Net Periodic Benefit Cost | ||||
Service Cost | 3 | 4.1 | 6 | 8.1 |
Interest Cost | 6.2 | 4.2 | 12.4 | 8.4 |
Expected Return on Plan Assets | (11.1) | (8.1) | (22.1) | (16.1) |
Amortization of Net Actuarial Loss | 0 | 1.7 | 0 | 3.5 |
Net Periodic Benefit Cost (Credit) | (1.9) | 1.9 | (3.7) | 3.9 |
Pension Plans [Member] | Ohio Power Co [Member] | ||||
Components of Net Periodic Benefit Cost | ||||
Service Cost | 2.1 | 2.9 | 4.2 | 5.6 |
Interest Cost | 5 | 3.2 | 9.9 | 6.6 |
Expected Return on Plan Assets | (8.5) | (6.2) | (17) | (12.4) |
Amortization of Net Actuarial Loss | 0 | 1.4 | 0 | 2.8 |
Net Periodic Benefit Cost (Credit) | (1.4) | 1.3 | (2.9) | 2.6 |
Pension Plans [Member] | Public Service Co Of Oklahoma [Member] | ||||
Components of Net Periodic Benefit Cost | ||||
Service Cost | 1.4 | 1.8 | 2.8 | 3.7 |
Interest Cost | 2.7 | 1.7 | 5.4 | 3.5 |
Expected Return on Plan Assets | (4.6) | (3.4) | (9.2) | (6.8) |
Amortization of Net Actuarial Loss | 0 | 0.8 | 0 | 1.5 |
Net Periodic Benefit Cost (Credit) | (0.5) | 0.9 | (1) | 1.9 |
Pension Plans [Member] | Southwestern Electric Power Co [Member] | ||||
Components of Net Periodic Benefit Cost | ||||
Service Cost | 1.9 | 2.7 | 3.8 | 5.3 |
Interest Cost | 3.5 | 2.3 | 7 | 4.6 |
Expected Return on Plan Assets | (4.9) | (3.6) | (9.7) | (7.3) |
Amortization of Net Actuarial Loss | 0 | 0.9 | 0 | 1.9 |
Net Periodic Benefit Cost (Credit) | 0.5 | 2.3 | 1.1 | 4.5 |
Other Postretirement Benefit Plans [Member] | ||||
Components of Net Periodic Benefit Cost | ||||
Service Cost | 1.2 | 1.9 | 2.3 | 3.7 |
Interest Cost | 11.5 | 7.3 | 23.1 | 14.6 |
Expected Return on Plan Assets | (27.4) | (27.5) | (54.8) | (55) |
Amortization of Prior Service Cost (Credit) | (15.7) | (17.9) | (31.5) | (35.7) |
Amortization of Net Actuarial Loss | 3.7 | 7.4 | ||
Net Periodic Benefit Cost (Credit) | (26.7) | (36.2) | (53.5) | (72.4) |
Other Postretirement Benefit Plans [Member] | AEP Texas Inc. [Member] | ||||
Components of Net Periodic Benefit Cost | ||||
Service Cost | 0.1 | 0.1 | 0.2 | 0.2 |
Interest Cost | 0.9 | 0.5 | 1.8 | 1.1 |
Expected Return on Plan Assets | (2.2) | (2.2) | (4.5) | (4.5) |
Amortization of Prior Service Cost (Credit) | (1.4) | (1.5) | (2.7) | (3) |
Amortization of Net Actuarial Loss | 0.3 | 0.6 | ||
Net Periodic Benefit Cost (Credit) | (2.3) | (3.1) | (4.6) | (6.2) |
Other Postretirement Benefit Plans [Member] | Appalachian Power Co [Member] | ||||
Components of Net Periodic Benefit Cost | ||||
Service Cost | 0.2 | 0.2 | 0.3 | 0.4 |
Interest Cost | 1.9 | 1.1 | 3.7 | 2.3 |
Expected Return on Plan Assets | (4) | (4) | (8) | (8.1) |
Amortization of Prior Service Cost (Credit) | (2.3) | (2.6) | (4.6) | (5.2) |
Amortization of Net Actuarial Loss | 0.5 | 1.1 | ||
Net Periodic Benefit Cost (Credit) | (3.7) | (5.3) | (7.5) | (10.6) |
Other Postretirement Benefit Plans [Member] | Indiana Michigan Power Co [Member] | ||||
Components of Net Periodic Benefit Cost | ||||
Service Cost | 0.2 | 0.3 | 0.4 | 0.5 |
Interest Cost | 1.4 | 0.9 | 2.7 | 1.7 |
Expected Return on Plan Assets | (3.4) | (3.5) | (6.8) | (6.9) |
Amortization of Prior Service Cost (Credit) | (2.1) | (2.5) | (4.3) | (4.9) |
Amortization of Net Actuarial Loss | 0.4 | 0.9 | ||
Net Periodic Benefit Cost (Credit) | (3.5) | (4.8) | (7.1) | (9.6) |
Other Postretirement Benefit Plans [Member] | Ohio Power Co [Member] | ||||
Components of Net Periodic Benefit Cost | ||||
Service Cost | 0.1 | 0.1 | 0.2 | 0.3 |
Interest Cost | 1.1 | 0.8 | 2.3 | 1.5 |
Expected Return on Plan Assets | (3) | (2.9) | (5.9) | (5.9) |
Amortization of Prior Service Cost (Credit) | (1.5) | (1.8) | (3.1) | (3.6) |
Amortization of Net Actuarial Loss | 0.4 | 0.8 | ||
Net Periodic Benefit Cost (Credit) | (2.9) | (3.8) | (5.7) | (7.7) |
Other Postretirement Benefit Plans [Member] | Public Service Co Of Oklahoma [Member] | ||||
Components of Net Periodic Benefit Cost | ||||
Service Cost | 0 | 0.1 | 0.1 | 0.2 |
Interest Cost | 0.6 | 0.3 | 1.2 | 0.7 |
Expected Return on Plan Assets | (1.4) | (1.5) | (2.9) | (3) |
Amortization of Prior Service Cost (Credit) | (1) | (1.1) | (2) | (2.2) |
Amortization of Net Actuarial Loss | 0.2 | 0.4 | ||
Net Periodic Benefit Cost (Credit) | (1.6) | (2.2) | (3.2) | (4.3) |
Other Postretirement Benefit Plans [Member] | Southwestern Electric Power Co [Member] | ||||
Components of Net Periodic Benefit Cost | ||||
Service Cost | 0.1 | 0.2 | 0.2 | 0.3 |
Interest Cost | 0.7 | 0.4 | 1.4 | 0.9 |
Expected Return on Plan Assets | (1.8) | (1.8) | (3.6) | (3.7) |
Amortization of Prior Service Cost (Credit) | (1.2) | (1.3) | (2.4) | (2.6) |
Amortization of Net Actuarial Loss | 0.3 | 0.5 | ||
Net Periodic Benefit Cost (Credit) | $ (1.9) | $ (2.5) | $ (3.9) | $ (5.1) |
Business Segments (Details)
Business Segments (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||||||||||
Jun. 30, 2023 | Mar. 31, 2023 | Jun. 30, 2022 | Mar. 31, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | Dec. 31, 2022 | ||||||
Reportable Segment Information | ||||||||||||
Interest Expense | $ 460 | $ 327.6 | $ 875.7 | $ 641 | ||||||||
Revenue from Contracts with Customers | 4,372.5 | 4,639.7 | 9,063.4 | 9,232.3 | ||||||||
Revenues | 4,372.5 | 4,639.7 | 9,063.4 | 9,232.3 | ||||||||
Net Income (Loss) | 516.1 | $ 400.4 | 520.8 | $ 718.1 | 916.5 | 1,238.9 | ||||||
Income Tax (Expense) Benefit | 28.6 | 54 | 39 | 106.8 | ||||||||
Balance Sheet Information | ||||||||||||
Total Property, Plant and Equipment | 98,415.8 | 98,415.8 | $ 97,021.4 | |||||||||
Accumulated Depreciation and Amortization | 23,734.4 | 23,734.4 | 23,682.3 | |||||||||
TOTAL PROPERTY, PLANT AND EQUIPMENT - NET | 74,681.4 | 74,681.4 | 73,339.1 | |||||||||
Total Assets | 96,002.1 | [1] | 96,002.1 | [1] | 93,403.3 | |||||||
Long-term Debt Due Within One Year | 3,380.3 | 3,380.3 | 2,486.4 | |||||||||
Long-term Debt | 36,762 | 36,762 | 34,314.6 | |||||||||
Total Long-term Debt Outstanding | 40,142.3 | 40,142.3 | 36,801 | |||||||||
Related Party | ||||||||||||
Reportable Segment Information | ||||||||||||
Revenue from Contracts with Customers | 0 | 0 | 0 | 0 | ||||||||
Reclassification out of Accumulated Other Comprehensive Income [Member] | ||||||||||||
Reportable Segment Information | ||||||||||||
Interest Expense | [2] | (0.5) | 1.1 | 0.2 | 2.2 | |||||||
Income Tax (Expense) Benefit | 5.1 | (34.4) | 14.2 | (44.9) | ||||||||
Interest Rate [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | Accumulated Net Gain (Loss) from Cash Flow Hedges Attributable to Parent [Member] | ||||||||||||
Reportable Segment Information | ||||||||||||
Interest Expense | [2] | (0.5) | 1.1 | 0.2 | 2.2 | |||||||
Income Tax (Expense) Benefit | (0.1) | 0.3 | 0 | 0.5 | ||||||||
Vertically Integrated Utilities [Member] | ||||||||||||
Reportable Segment Information | ||||||||||||
Revenue from Contracts with Customers | 2,629 | 2,595 | 5,445.3 | 5,241.8 | ||||||||
Transmission and Distribution Utilities Revenues [Member] | ||||||||||||
Reportable Segment Information | ||||||||||||
Revenue from Contracts with Customers | 1,330.8 | 1,296.8 | 2,786.1 | 2,539 | ||||||||
Generation and Marketing Revenues [Member] | ||||||||||||
Reportable Segment Information | ||||||||||||
Revenue from Contracts with Customers | 318.2 | 654.4 | 645.1 | 1,263.9 | ||||||||
Generation and Marketing Revenues [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | ||||||||||||
Reportable Segment Information | ||||||||||||
Revenue from Contracts with Customers | [2] | 0.1 | ||||||||||
Generation and Marketing Revenues [Member] | Interest Rate [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | Accumulated Net Gain (Loss) from Cash Flow Hedges Attributable to Parent [Member] | ||||||||||||
Reportable Segment Information | ||||||||||||
Revenue from Contracts with Customers | [2] | 0 | ||||||||||
Other Revenues [Member] | ||||||||||||
Reportable Segment Information | ||||||||||||
Revenue from Contracts with Customers | 94.5 | 93.5 | 186.9 | 187.6 | ||||||||
Revenues | (128.8) | [3] | 135.7 | [4],[5] | (258.7) | [6],[7] | 301.1 | [8],[9] | ||||
AEP Transmission Co [Member] | ||||||||||||
Reportable Segment Information | ||||||||||||
Interest Expense | 50.7 | 39.3 | 95.9 | 77 | ||||||||
Interest Income | 2.6 | 0.2 | 4.1 | 0.3 | ||||||||
Revenues from Related Parties, Net of Provisions for Refund | 357.5 | 287.1 | 710.1 | 602.5 | ||||||||
Revenues | 444.9 | 364.4 | 886.5 | 764.8 | ||||||||
Net Income (Loss) | 175.7 | $ 162.7 | 118.5 | $ 155.4 | 338.4 | 273.9 | ||||||
Income Tax (Expense) Benefit | 49.1 | 34.3 | 96.8 | 79.8 | ||||||||
Balance Sheet Information | ||||||||||||
Total Property, Plant and Equipment | 15,188.5 | 15,188.5 | 14,366.9 | |||||||||
Accumulated Depreciation and Amortization | 1,150.8 | 1,150.8 | 1,027 | |||||||||
TOTAL PROPERTY, PLANT AND EQUIPMENT - NET | 14,037.7 | 14,037.7 | 13,339.9 | |||||||||
Total Assets | 14,576.5 | 14,576.5 | 13,814.2 | |||||||||
Long-term Debt Due Within One Year | 60 | 60 | 60 | |||||||||
Long-term Debt | 5,413 | 5,413 | 4,722.8 | |||||||||
Total Long-term Debt Outstanding | 5,473 | 5,473 | 4,782.8 | |||||||||
AEP Transmission Co [Member] | Related Party | ||||||||||||
Reportable Segment Information | ||||||||||||
Revenue from Contracts with Customers | 365.8 | 333.9 | 723.2 | 658.9 | ||||||||
AEP Transmission Co [Member] | Other Revenues [Member] | ||||||||||||
Reportable Segment Information | ||||||||||||
Revenues | 0 | [10] | 0 | [11] | 0 | [12] | 0 | [13] | ||||
AEP Transmission Co [Member] | Transmission [Member] | ||||||||||||
Reportable Segment Information | ||||||||||||
Revenue from Contract with Customers, Net of Provisions for Refund, Including Assessed Tax | 87.4 | 77.3 | 176.4 | 162.3 | ||||||||
Revenue from Contracts with Customers | 90.2 | 85.6 | 180.2 | 172.6 | ||||||||
Reconciling Adjustments [Member] | ||||||||||||
Reportable Segment Information | ||||||||||||
Revenue from Contracts with Customers | 0 | 0 | 0 | 0 | ||||||||
Revenues | (464.2) | (373.3) | (907.9) | (765.5) | ||||||||
Net Income (Loss) | 0 | 0 | 0 | 0 | ||||||||
Balance Sheet Information | ||||||||||||
Total Assets | [14] | (5,878) | [1] | (5,878) | [1] | (5,783) | ||||||
Reconciling Adjustments [Member] | Related Party | ||||||||||||
Reportable Segment Information | ||||||||||||
Revenue from Contracts with Customers | (464.2) | (373.3) | (907.9) | (765.5) | ||||||||
Reconciling Adjustments [Member] | Other Revenues [Member] | ||||||||||||
Reportable Segment Information | ||||||||||||
Revenues | (2) | [3] | (2) | [4],[5] | (2.9) | [6],[7] | (4.9) | [8],[9] | ||||
Reconciling Adjustments [Member] | AEP Transmission Co [Member] | ||||||||||||
Reportable Segment Information | ||||||||||||
Revenue from Contracts with Customers | 0 | 0 | 0 | 0 | ||||||||
Revenues | 0 | 0 | 0 | 0 | ||||||||
Net Income (Loss) | 0 | 0 | 0 | 0 | ||||||||
Balance Sheet Information | ||||||||||||
Total Assets | [15] | (5,591.9) | (5,591.9) | (4,878.8) | ||||||||
Reconciling Adjustments [Member] | AEP Transmission Co [Member] | Related Party | ||||||||||||
Reportable Segment Information | ||||||||||||
Revenue from Contracts with Customers | 0 | 0 | 0 | 0 | ||||||||
Vertically Integrated Utilities [Member] | ||||||||||||
Reportable Segment Information | ||||||||||||
Revenues | 2,674.5 | 2,648.5 | 5,532.3 | 5,335.9 | ||||||||
Net Income (Loss) | 278.4 | 303.3 | 540.6 | 602.5 | ||||||||
Balance Sheet Information | ||||||||||||
Total Assets | 51,047.3 | [1] | 51,047.3 | [1] | 49,761.8 | |||||||
Vertically Integrated Utilities [Member] | Related Party | ||||||||||||
Reportable Segment Information | ||||||||||||
Revenue from Contracts with Customers | 45.5 | 53.5 | 87 | 94.1 | ||||||||
Vertically Integrated Utilities [Member] | Vertically Integrated Utilities [Member] | ||||||||||||
Reportable Segment Information | ||||||||||||
Revenue from Contracts with Customers | 2,629 | 2,595 | 5,445.3 | 5,241.8 | ||||||||
Vertically Integrated Utilities [Member] | Other Revenues [Member] | ||||||||||||
Reportable Segment Information | ||||||||||||
Revenues | 0.1 | [3] | 0.1 | [4],[5] | 0 | [6],[7] | 0.1 | [8],[9] | ||||
Transmission And Distribution Utilities [Member] | ||||||||||||
Reportable Segment Information | ||||||||||||
Revenues | 1,340.2 | 1,301.6 | 2,804.4 | 2,548.4 | ||||||||
Net Income (Loss) | 176.7 | 164.8 | 302.4 | 317.6 | ||||||||
Balance Sheet Information | ||||||||||||
Total Assets | 23,900 | [1] | 23,900 | [1] | 22,920.2 | |||||||
Transmission And Distribution Utilities [Member] | Related Party | ||||||||||||
Reportable Segment Information | ||||||||||||
Revenue from Contracts with Customers | 9.4 | 4.8 | 18.3 | 9.4 | ||||||||
Transmission And Distribution Utilities [Member] | Transmission and Distribution Utilities Revenues [Member] | ||||||||||||
Reportable Segment Information | ||||||||||||
Revenue from Contracts with Customers | 1,330.8 | 1,296.8 | 2,786.1 | 2,539 | ||||||||
Transmission And Distribution Utilities [Member] | Other Revenues [Member] | ||||||||||||
Reportable Segment Information | ||||||||||||
Revenues | 6.1 | [3] | 6.8 | [4],[5] | 17.2 | [6],[7] | 13.1 | [8],[9] | ||||
AEP Transmission Holdco [Member] | ||||||||||||
Reportable Segment Information | ||||||||||||
Revenues | 458.6 | 378.8 | 914.1 | 790.2 | ||||||||
Net Income (Loss) | 197.3 | 142.7 | 379.7 | 316.4 | ||||||||
Balance Sheet Information | ||||||||||||
Total Assets | 16,023.5 | [1] | 16,023.5 | [1] | 15,215.8 | |||||||
AEP Transmission Holdco [Member] | Related Party | ||||||||||||
Reportable Segment Information | ||||||||||||
Revenue from Contracts with Customers | 370.3 | 299.7 | 735.7 | 627.7 | ||||||||
AEP Transmission Holdco [Member] | Transmission [Member] | ||||||||||||
Reportable Segment Information | ||||||||||||
Revenue from Contracts with Customers | 88.3 | 79.1 | 178.4 | 162.5 | ||||||||
Generation And Marketing [Member] | ||||||||||||
Reportable Segment Information | ||||||||||||
Revenues | 331.4 | 659.6 | 658.4 | 1,278.9 | ||||||||
Net Income (Loss) | (38.6) | 65.9 | (195) | 181.9 | ||||||||
Balance Sheet Information | ||||||||||||
Total Assets | 4,457.9 | [1] | 4,457.9 | [1] | 4,520.1 | |||||||
Generation And Marketing [Member] | Related Party | ||||||||||||
Reportable Segment Information | ||||||||||||
Revenue from Contracts with Customers | 13.2 | 5.2 | 13.3 | 15 | ||||||||
Generation And Marketing [Member] | Generation and Marketing Revenues [Member] | ||||||||||||
Reportable Segment Information | ||||||||||||
Revenue from Contracts with Customers | 318.2 | 654.4 | 645.1 | 1,263.9 | ||||||||
Generation And Marketing [Member] | Other Revenues [Member] | ||||||||||||
Reportable Segment Information | ||||||||||||
Revenues | (135.2) | [3],[16] | 128.5 | [4],[5] | (276.2) | [6],[7] | 287.7 | [8],[9] | ||||
All Other [Member] | ||||||||||||
Reportable Segment Information | ||||||||||||
Revenues | [17] | 32 | 24.5 | 62.1 | 44.4 | |||||||
Net Income (Loss) | [17] | (97.7) | (155.9) | (111.2) | (179.5) | |||||||
Balance Sheet Information | ||||||||||||
Total Assets | [17],[18] | 6,451.4 | [1] | 6,451.4 | [1] | 6,768.4 | ||||||
All Other [Member] | Related Party | ||||||||||||
Reportable Segment Information | ||||||||||||
Revenue from Contracts with Customers | [17] | 25.8 | 10.1 | 53.6 | 19.3 | |||||||
All Other [Member] | Other Revenues [Member] | ||||||||||||
Reportable Segment Information | ||||||||||||
Revenue from Contracts with Customers | [17] | 6.2 | 14.4 | 8.5 | 25.1 | |||||||
Revenues | 2.2 | [3] | 2.3 | [4],[5] | 3.2 | [6],[7] | 5.1 | [8],[9] | ||||
State Transcos [Member] | AEP Transmission Co [Member] | ||||||||||||
Reportable Segment Information | ||||||||||||
Revenues | 444.9 | 364.4 | 886.5 | 764.8 | ||||||||
Net Income (Loss) | 174.2 | 118.4 | 335.8 | 273.8 | ||||||||
Balance Sheet Information | ||||||||||||
Total Assets | 14,626.3 | 14,626.3 | 13,875.6 | |||||||||
State Transcos [Member] | AEP Transmission Co [Member] | Related Party | ||||||||||||
Reportable Segment Information | ||||||||||||
Revenue from Contracts with Customers | 357.5 | 287.1 | 710.1 | 602.5 | ||||||||
State Transcos [Member] | AEP Transmission Co [Member] | Transmission [Member] | ||||||||||||
Reportable Segment Information | ||||||||||||
Revenue from Contracts with Customers | 87.4 | 77.3 | 176.4 | 162.3 | ||||||||
AEPTCo Parent [Member] | AEP Transmission Co [Member] | ||||||||||||
Reportable Segment Information | ||||||||||||
Revenue from Contracts with Customers | 0 | 0 | 0 | 0 | ||||||||
Revenues | 0 | 0 | 0 | 0 | ||||||||
Net Income (Loss) | [19] | 1.5 | 0.1 | 2.6 | 0.1 | |||||||
Balance Sheet Information | ||||||||||||
Total Assets | [20] | 5,542.1 | 5,542.1 | $ 4,817.4 | ||||||||
AEPTCo Parent [Member] | AEP Transmission Co [Member] | Related Party | ||||||||||||
Reportable Segment Information | ||||||||||||
Revenue from Contracts with Customers | $ 0 | $ 0 | $ 0 | $ 0 | ||||||||
[1]Amount includes Assets Held for Sale on the balance sheet. See “Planned Disposition of the Competitive Contracted Renewables Portfolio” section of Note 6 for additional information.[2]Amounts reclassified to the referenced line item on the statements of income.[3]Amounts include affiliated and nonaffiliated revenues.[4]Amounts include affiliated and nonaffiliated revenues[5]Generation & Marketing includes economic hedge activity.[6]Amounts include affiliated and nonaffiliated revenues.[7]Generation & Marketing includes economic hedge activity.[8]Amounts include affiliated and nonaffiliated revenues.[9]Generation & Marketing includes economic hedge activity.[10]Amounts include affiliated and nonaffiliated revenues.[11]Amounts include affiliated and nonaffiliated revenues.[12]Amounts include affiliated and nonaffiliated revenues.[13]Amounts include affiliated and nonaffiliated revenues.[14]Reconciling Adjustments for Total Assets primarily include elimination of intercompany advances to affiliates and intercompany accounts receivable.[15]Primarily relates to the elimination of Notes Receivable from the State Transcos.[16]Generation & Marketing includes economic hedge activity.[17]Corporate and Other primarily includes the purchasing of receivables from certain AEP utility subsidiaries. This segment also includes Parent’s guarantee revenue received from affiliates, investment income, interest income, interest expense and other nonallocated costs.[18]Includes elimination of AEP Parent’s investments in wholly-owned subsidiary companies.[19]Includes the elimination of AEPTCo Parent’s equity earnings in the State Transcos.[20]Primarily relates to Notes Receivable from the State Transcos. |
Derivatives and Hedging (Detail
Derivatives and Hedging (Details) gal in Millions, MWh in Millions, MMBTU in Millions | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||||||
Jun. 30, 2023 USD ($) MMBTU MWh gal | Jun. 30, 2022 USD ($) | Jun. 30, 2023 USD ($) MMBTU MWh gal | Jun. 30, 2022 USD ($) | Dec. 31, 2022 USD ($) MWh MMBTU gal | |||||
Cash Collateral Netting | |||||||||
Cash Collateral Received Netted Against Risk Management Assets | $ 73,000,000 | $ 73,000,000 | $ 481,000,000 | ||||||
Cash Collateral Paid Netted Against Risk Management Liabilities | 35,000,000 | 35,000,000 | 2,000,000 | ||||||
Fair Value of Derivative Instruments | |||||||||
Current Risk Management Assets | 279,500,000 | 279,500,000 | 348,800,000 | ||||||
Long-term Risk Management Assets | 266,800,000 | 266,800,000 | 284,100,000 | ||||||
Total Assets | 546,300,000 | 546,300,000 | 632,900,000 | ||||||
Current Risk Management Liabilities | 176,200,000 | 176,200,000 | 145,200,000 | ||||||
Long-term Risk Management Liabilities | 275,300,000 | 275,300,000 | 345,200,000 | ||||||
Total Liabilities | 451,500,000 | 451,500,000 | 490,400,000 | ||||||
Amount of Gain (Loss) Recognized on Risk Management Contracts | |||||||||
Amount of Gain (Loss) Recognized on Risk Management Contracts | (34,300,000) | $ 257,900,000 | (212,500,000) | $ 473,200,000 | |||||
Carrying Amount of Hedged Asset (Liability) | [1],[2] | (855,100,000) | (855,100,000) | (855,500,000) | |||||
Cumulative Fair Value Hedging Adjustment in the Carrying Amount of the Hedged Asset (Liability) | [1],[2] | 90,800,000 | 90,800,000 | 89,700,000 | |||||
Gain (Loss) on Hedging Instruments | |||||||||
Gain (Loss) on Fair Value Hedging Instruments | [3] | (4,200,000) | (17,600,000) | 2,700,000 | (62,400,000) | ||||
Gain (Loss) on Fair Value Portion of Long Term Debt | [3] | 4,200,000 | 17,600,000 | (2,700,000) | 62,400,000 | ||||
Collateral Triggering Events [Abstract] | |||||||||
Fair Value Of Derivative Liabilities Subject To Cross Acceleration Provisions | 125,000,000 | 125,000,000 | 127,000,000 | ||||||
Fair Value Of Derivative Liabilities Subject To Cross Default Provisions | 178,000,000 | 178,000,000 | 217,000,000 | ||||||
Derivatives and Hedging (Textuals) [Abstract] | |||||||||
Hedged Liability, Discontinued Fair Value Hedge, Cumulative Increase (Decrease) | (34,000,000) | (34,000,000) | (38,000,000) | ||||||
Credit Downgrade Trigger Exposure | 0 | 0 | 2,000,000 | ||||||
AEP Texas Inc. [Member] | |||||||||
Amount of Gain (Loss) Recognized on Risk Management Contracts | |||||||||
Amount of Gain (Loss) Recognized on Risk Management Contracts | (200,000) | 1,300,000 | (600,000) | 2,600,000 | |||||
Appalachian Power Co [Member] | |||||||||
Fair Value of Derivative Instruments | |||||||||
Current Risk Management Assets | 39,200,000 | 39,200,000 | 69,100,000 | ||||||
Current Risk Management Liabilities | 1,100,000 | 1,100,000 | 3,600,000 | ||||||
Amount of Gain (Loss) Recognized on Risk Management Contracts | |||||||||
Amount of Gain (Loss) Recognized on Risk Management Contracts | 24,600,000 | 23,000,000 | (8,100,000) | 23,100,000 | |||||
Indiana Michigan Power Co [Member] | |||||||||
Fair Value of Derivative Instruments | |||||||||
Current Risk Management Assets | 21,400,000 | 21,400,000 | 15,200,000 | ||||||
Amount of Gain (Loss) Recognized on Risk Management Contracts | |||||||||
Amount of Gain (Loss) Recognized on Risk Management Contracts | 19,100,000 | 2,200,000 | 14,500,000 | 2,400,000 | |||||
Ohio Power Co [Member] | |||||||||
Fair Value of Derivative Instruments | |||||||||
Current Risk Management Liabilities | 6,300,000 | 6,300,000 | 1,800,000 | ||||||
Long-term Risk Management Liabilities | 47,700,000 | 47,700,000 | 37,900,000 | ||||||
Amount of Gain (Loss) Recognized on Risk Management Contracts | |||||||||
Amount of Gain (Loss) Recognized on Risk Management Contracts | (12,800,000) | 23,300,000 | (25,100,000) | 47,400,000 | |||||
Public Service Co Of Oklahoma [Member] | |||||||||
Fair Value of Derivative Instruments | |||||||||
Current Risk Management Assets | 44,800,000 | 44,800,000 | 25,300,000 | ||||||
Amount of Gain (Loss) Recognized on Risk Management Contracts | |||||||||
Amount of Gain (Loss) Recognized on Risk Management Contracts | 40,100,000 | 39,600,000 | 56,900,000 | 56,100,000 | |||||
Southwestern Electric Power Co [Member] | |||||||||
Fair Value of Derivative Instruments | |||||||||
Current Risk Management Assets | 28,000,000 | 28,000,000 | 16,400,000 | ||||||
Amount of Gain (Loss) Recognized on Risk Management Contracts | |||||||||
Amount of Gain (Loss) Recognized on Risk Management Contracts | 32,700,000 | 37,500,000 | 43,100,000 | 56,500,000 | |||||
Risk Management Contracts [Member] | |||||||||
Fair Value of Derivative Instruments | |||||||||
Total Assets | [4] | 425,700,000 | [5] | 425,700,000 | [5] | 315,400,000 | [6] | ||
Total Liabilities | [4] | 325,200,000 | [5] | 325,200,000 | [5] | 339,800,000 | [6] | ||
Risk Management Contracts [Member] | AEP Texas Inc. [Member] | |||||||||
Fair Value of Derivative Instruments | |||||||||
Total Liabilities | [4] | 0 | 0 | ||||||
Risk Management Contracts [Member] | Appalachian Power Co [Member] | |||||||||
Fair Value of Derivative Instruments | |||||||||
Total Assets | [4],[7] | 39,400,000 | 39,400,000 | 69,100,000 | |||||
Total Liabilities | [4],[7] | 1,100,000 | 1,100,000 | 3,500,000 | |||||
Risk Management Contracts [Member] | Indiana Michigan Power Co [Member] | |||||||||
Fair Value of Derivative Instruments | |||||||||
Total Assets | [4],[7] | 30,500,000 | 30,500,000 | 15,400,000 | |||||
Total Liabilities | [4],[7] | 1,400,000 | 1,400,000 | 0 | |||||
Risk Management Contracts [Member] | Ohio Power Co [Member] | |||||||||
Fair Value of Derivative Instruments | |||||||||
Total Liabilities | [7] | 54,000,000 | 54,000,000 | 39,700,000 | |||||
Risk Management Contracts [Member] | Public Service Co Of Oklahoma [Member] | |||||||||
Fair Value of Derivative Instruments | |||||||||
Total Assets | [4],[7] | 44,800,000 | 44,800,000 | 25,300,000 | |||||
Total Liabilities | [4],[7] | 3,400,000 | 3,400,000 | 1,600,000 | |||||
Risk Management Contracts [Member] | Southwestern Electric Power Co [Member] | |||||||||
Fair Value of Derivative Instruments | |||||||||
Total Assets | [4],[7] | 28,000,000 | 28,000,000 | 16,400,000 | |||||
Total Liabilities | [4],[7] | 1,800,000 | 1,800,000 | 1,400,000 | |||||
Commodity [Member] | |||||||||
Impact of Cash Flow Hedges on the Condensed Balance Sheet | |||||||||
AOCI Gain (Loss) Net of Tax | 93,500,000 | 93,500,000 | 223,500,000 | ||||||
Portion Expected to be Reclassified to Net Income During the Next Twelve Months | $ 24,100,000 | 119,900,000 | |||||||
Derivatives and Hedging (Textuals) [Abstract] | |||||||||
Maximum Term for Exposure to Variability of Future Cash Flows | 93 months | ||||||||
Cross Acceleration Provisions Maximum Third Party Obligation Amount | 50,000,000 | $ 50,000,000 | |||||||
Cross Default Provisions Maximum Third Party Obligation Amount | 50,000,000 | 50,000,000 | |||||||
Commodity [Member] | Risk Management Contracts [Member] | |||||||||
Fair Value of Derivative Instruments | |||||||||
Current Risk Management Assets | [8] | 721,600,000 | 721,600,000 | 965,400,000 | |||||
Long-term Risk Management Assets | [8] | 466,400,000 | 466,400,000 | 565,600,000 | |||||
Total Assets | [8] | 1,188,000,000 | 1,188,000,000 | 1,531,000,000 | |||||
Current Risk Management Liabilities | [8] | 631,500,000 | 631,500,000 | 663,800,000 | |||||
Long-term Risk Management Liabilities | [8] | 418,500,000 | 418,500,000 | 412,000,000 | |||||
Total Liabilities | [8] | 1,050,000,000 | 1,050,000,000 | 1,075,800,000 | |||||
Total MTM Derivative Contract Net Assets (Liabilities) | [8] | 138,000,000 | 138,000,000 | 455,200,000 | |||||
Commodity [Member] | Risk Management Contracts [Member] | AEP Texas Inc. [Member] | |||||||||
Fair Value of Derivative Instruments | |||||||||
Current Risk Management Assets | [8] | 0 | 0 | 0 | |||||
Long-term Risk Management Assets | [8] | 0 | 0 | 0 | |||||
Total Assets | [8] | 0 | 0 | 0 | |||||
Current Risk Management Liabilities | [8] | 400,000 | 400,000 | 0 | |||||
Long-term Risk Management Liabilities | [8] | 100,000 | 100,000 | 0 | |||||
Total Liabilities | [8] | 500,000 | 500,000 | 0 | |||||
Total MTM Derivative Contract Net Assets (Liabilities) | [8] | (500,000) | (500,000) | 0 | |||||
Commodity [Member] | Risk Management Contracts [Member] | Appalachian Power Co [Member] | |||||||||
Fair Value of Derivative Instruments | |||||||||
Current Risk Management Assets | [8] | 42,500,000 | 42,500,000 | 69,300,000 | |||||
Long-term Risk Management Assets | [8] | 600,000 | 600,000 | 700,000 | |||||
Total Assets | [8] | 43,100,000 | 43,100,000 | 70,000,000 | |||||
Current Risk Management Liabilities | [8] | 5,100,000 | 5,100,000 | 4,100,000 | |||||
Long-term Risk Management Liabilities | [8] | 400,000 | 400,000 | 700,000 | |||||
Total Liabilities | [8] | 5,500,000 | 5,500,000 | 4,800,000 | |||||
Total MTM Derivative Contract Net Assets (Liabilities) | [8] | 37,600,000 | 37,600,000 | 65,200,000 | |||||
Commodity [Member] | Risk Management Contracts [Member] | Indiana Michigan Power Co [Member] | |||||||||
Fair Value of Derivative Instruments | |||||||||
Current Risk Management Assets | [8] | 22,300,000 | 22,300,000 | 16,000,000 | |||||
Long-term Risk Management Assets | [8] | 11,800,000 | 11,800,000 | 500,000 | |||||
Total Assets | [8] | 34,100,000 | 34,100,000 | 16,500,000 | |||||
Current Risk Management Liabilities | [8] | 2,800,000 | 2,800,000 | 900,000 | |||||
Long-term Risk Management Liabilities | [8] | 2,700,000 | 2,700,000 | 300,000 | |||||
Total Liabilities | [8] | 5,500,000 | 5,500,000 | 1,200,000 | |||||
Total MTM Derivative Contract Net Assets (Liabilities) | [8] | 28,600,000 | 28,600,000 | 15,300,000 | |||||
Commodity [Member] | Risk Management Contracts [Member] | Ohio Power Co [Member] | |||||||||
Fair Value of Derivative Instruments | |||||||||
Current Risk Management Assets | [8] | 0 | 0 | 0 | |||||
Long-term Risk Management Assets | [8] | 0 | 0 | 0 | |||||
Total Assets | [8] | 0 | 0 | 0 | |||||
Current Risk Management Liabilities | [8] | 6,600,000 | 6,600,000 | 2,100,000 | |||||
Long-term Risk Management Liabilities | [8] | 47,800,000 | 47,800,000 | 37,900,000 | |||||
Total Liabilities | [8] | 54,400,000 | 54,400,000 | 40,000,000 | |||||
Total MTM Derivative Contract Net Assets (Liabilities) | [8] | (54,400,000) | (54,400,000) | (40,000,000) | |||||
Commodity [Member] | Risk Management Contracts [Member] | Public Service Co Of Oklahoma [Member] | |||||||||
Fair Value of Derivative Instruments | |||||||||
Current Risk Management Assets | [8] | 47,400,000 | 47,400,000 | 24,100,000 | |||||
Long-term Risk Management Assets | [8] | 200,000 | 200,000 | 0 | |||||
Total Assets | [8] | 47,600,000 | 47,600,000 | 24,100,000 | |||||
Current Risk Management Liabilities | [8] | 5,400,000 | 5,400,000 | 2,100,000 | |||||
Long-term Risk Management Liabilities | [8] | 1,000,000 | 1,000,000 | 0 | |||||
Total Liabilities | [8] | 6,400,000 | 6,400,000 | 2,100,000 | |||||
Total MTM Derivative Contract Net Assets (Liabilities) | [8] | 41,200,000 | 41,200,000 | 22,000,000 | |||||
Commodity [Member] | Risk Management Contracts [Member] | Southwestern Electric Power Co [Member] | |||||||||
Fair Value of Derivative Instruments | |||||||||
Current Risk Management Assets | [8] | 28,500,000 | 28,500,000 | 16,800,000 | |||||
Long-term Risk Management Assets | [8] | 0 | 0 | 0 | |||||
Total Assets | [8] | 28,500,000 | 28,500,000 | 16,800,000 | |||||
Current Risk Management Liabilities | [8] | 2,400,000 | 2,400,000 | 2,000,000 | |||||
Long-term Risk Management Liabilities | [8] | 200,000 | 200,000 | 0 | |||||
Total Liabilities | [8] | 2,600,000 | 2,600,000 | 2,000,000 | |||||
Total MTM Derivative Contract Net Assets (Liabilities) | [8] | 25,900,000 | 25,900,000 | 14,800,000 | |||||
Commodity [Member] | Hedging Contracts [Member] | |||||||||
Fair Value of Derivative Instruments | |||||||||
Current Risk Management Assets | [8] | 43,400,000 | 43,400,000 | 212,200,000 | |||||
Long-term Risk Management Assets | [8] | 95,100,000 | 95,100,000 | 148,900,000 | |||||
Total Assets | [8] | 138,500,000 | 138,500,000 | 361,100,000 | |||||
Current Risk Management Liabilities | [8] | 12,800,000 | 12,800,000 | 60,400,000 | |||||
Long-term Risk Management Liabilities | [8] | 6,700,000 | 6,700,000 | 17,400,000 | |||||
Total Liabilities | [8] | 19,500,000 | 19,500,000 | 77,800,000 | |||||
Total MTM Derivative Contract Net Assets (Liabilities) | [8] | 119,000,000 | 119,000,000 | 283,300,000 | |||||
Interest Rate [Member] | |||||||||
Commodity: | |||||||||
Derivative, Notional Amount | 950,000,000 | 950,000,000 | 1,650,000,000 | ||||||
Impact of Cash Flow Hedges on the Condensed Balance Sheet | |||||||||
AOCI Gain (Loss) Net of Tax | 12,700,000 | 12,700,000 | 300,000 | ||||||
Portion Expected to be Reclassified to Net Income During the Next Twelve Months | $ 4,300,000 | 300,000 | |||||||
Derivatives and Hedging (Textuals) [Abstract] | |||||||||
Maximum Term for Exposure to Variability of Future Cash Flows | 90 months | ||||||||
Interest Rate [Member] | AEP Texas Inc. [Member] | |||||||||
Commodity: | |||||||||
Derivative, Notional Amount | 0 | $ 0 | 0 | ||||||
Impact of Cash Flow Hedges on the Condensed Balance Sheet | |||||||||
AOCI Gain (Loss) Net of Tax | 2,900,000 | 2,900,000 | (300,000) | ||||||
Portion Expected to be Reclassified to Net Income During the Next Twelve Months | 300,000 | (200,000) | |||||||
Interest Rate [Member] | Appalachian Power Co [Member] | |||||||||
Commodity: | |||||||||
Derivative, Notional Amount | 0 | 0 | 0 | ||||||
Impact of Cash Flow Hedges on the Condensed Balance Sheet | |||||||||
AOCI Gain (Loss) Net of Tax | 6,300,000 | 6,300,000 | 6,700,000 | ||||||
Portion Expected to be Reclassified to Net Income During the Next Twelve Months | 800,000 | 800,000 | |||||||
Interest Rate [Member] | Indiana Michigan Power Co [Member] | |||||||||
Commodity: | |||||||||
Derivative, Notional Amount | 0 | 0 | 0 | ||||||
Impact of Cash Flow Hedges on the Condensed Balance Sheet | |||||||||
AOCI Gain (Loss) Net of Tax | (5,700,000) | (5,700,000) | (5,100,000) | ||||||
Portion Expected to be Reclassified to Net Income During the Next Twelve Months | (400,000) | (600,000) | |||||||
Interest Rate [Member] | Ohio Power Co [Member] | |||||||||
Commodity: | |||||||||
Derivative, Notional Amount | 0 | 0 | 0 | ||||||
Interest Rate [Member] | Public Service Co Of Oklahoma [Member] | |||||||||
Commodity: | |||||||||
Derivative, Notional Amount | 0 | 0 | 200,000,000 | ||||||
Impact of Cash Flow Hedges on the Condensed Balance Sheet | |||||||||
AOCI Gain (Loss) Net of Tax | (200,000) | (200,000) | 1,300,000 | ||||||
Portion Expected to be Reclassified to Net Income During the Next Twelve Months | 0 | 100,000 | |||||||
Interest Rate [Member] | Southwestern Electric Power Co [Member] | |||||||||
Commodity: | |||||||||
Derivative, Notional Amount | 0 | 0 | 0 | ||||||
Impact of Cash Flow Hedges on the Condensed Balance Sheet | |||||||||
AOCI Gain (Loss) Net of Tax | 1,400,000 | 1,400,000 | 1,100,000 | ||||||
Portion Expected to be Reclassified to Net Income During the Next Twelve Months | 300,000 | 200,000 | |||||||
Interest Rate [Member] | Hedging Contracts [Member] | |||||||||
Fair Value of Derivative Instruments | |||||||||
Current Risk Management Assets | [8] | 0 | 0 | 1,800,000 | |||||
Long-term Risk Management Assets | [8] | 0 | 0 | 14,300,000 | |||||
Total Assets | [8] | 0 | 0 | 16,100,000 | |||||
Current Risk Management Liabilities | [8] | 42,600,000 | 42,600,000 | 41,400,000 | |||||
Long-term Risk Management Liabilities | [8] | 82,100,000 | 82,100,000 | 91,100,000 | |||||
Total Liabilities | [8] | 124,700,000 | 124,700,000 | 132,500,000 | |||||
Total MTM Derivative Contract Net Assets (Liabilities) | [8] | (124,700,000) | (124,700,000) | (116,400,000) | |||||
Interest Rate [Member] | Hedging Contracts [Member] | Public Service Co Of Oklahoma [Member] | |||||||||
Fair Value of Derivative Instruments | |||||||||
Current Risk Management Assets | [8] | 1,600,000 | |||||||
Long-term Risk Management Assets | [8] | 0 | |||||||
Total Assets | [8] | 1,600,000 | |||||||
Current Risk Management Liabilities | [8] | 0 | |||||||
Long-term Risk Management Liabilities | [8] | 0 | |||||||
Total Liabilities | [8] | 0 | |||||||
Total MTM Derivative Contract Net Assets (Liabilities) | [8] | 1,600,000 | |||||||
Gross Amounts of Risk Management Assets/Liabilities Recognized [Member] | |||||||||
Fair Value of Derivative Instruments | |||||||||
Current Risk Management Assets | 765,000,000 | 765,000,000 | 1,179,400,000 | ||||||
Long-term Risk Management Assets | 561,500,000 | 561,500,000 | 728,800,000 | ||||||
Total Assets | 1,326,500,000 | 1,326,500,000 | 1,908,200,000 | ||||||
Current Risk Management Liabilities | 686,900,000 | 686,900,000 | 765,600,000 | ||||||
Long-term Risk Management Liabilities | 507,300,000 | 507,300,000 | 520,500,000 | ||||||
Total Liabilities | 1,194,200,000 | 1,194,200,000 | 1,286,100,000 | ||||||
Total MTM Derivative Contract Net Assets (Liabilities) | 132,300,000 | 132,300,000 | 622,100,000 | ||||||
Gross Amounts of Risk Management Assets/Liabilities Recognized [Member] | Public Service Co Of Oklahoma [Member] | |||||||||
Fair Value of Derivative Instruments | |||||||||
Current Risk Management Assets | 25,700,000 | ||||||||
Long-term Risk Management Assets | 0 | ||||||||
Total Assets | 25,700,000 | ||||||||
Current Risk Management Liabilities | 2,100,000 | ||||||||
Long-term Risk Management Liabilities | 0 | ||||||||
Total Liabilities | 2,100,000 | ||||||||
Total MTM Derivative Contract Net Assets (Liabilities) | 23,600,000 | ||||||||
Gross Amounts Offset in the Statement of Financial Position [Member] | |||||||||
Fair Value of Derivative Instruments | |||||||||
Current Risk Management Assets | [9] | (485,500,000) | (485,500,000) | (830,600,000) | |||||
Long-term Risk Management Assets | [9] | (294,700,000) | (294,700,000) | (444,700,000) | |||||
Total Assets | [9] | (780,200,000) | (780,200,000) | (1,275,300,000) | |||||
Current Risk Management Liabilities | [9] | (510,700,000) | (510,700,000) | (620,400,000) | |||||
Long-term Risk Management Liabilities | [9] | (232,000,000) | (232,000,000) | (175,300,000) | |||||
Total Liabilities | [9] | (742,700,000) | (742,700,000) | (795,700,000) | |||||
Total MTM Derivative Contract Net Assets (Liabilities) | [9] | (37,500,000) | (37,500,000) | (479,600,000) | |||||
Gross Amounts Offset in the Statement of Financial Position [Member] | AEP Texas Inc. [Member] | |||||||||
Fair Value of Derivative Instruments | |||||||||
Current Risk Management Assets | [9] | 0 | 0 | 0 | |||||
Long-term Risk Management Assets | [9] | 0 | 0 | 0 | |||||
Total Assets | [9] | 0 | 0 | 0 | |||||
Current Risk Management Liabilities | [9] | (400,000) | (400,000) | 0 | |||||
Long-term Risk Management Liabilities | [9] | (100,000) | (100,000) | 0 | |||||
Total Liabilities | [9] | (500,000) | (500,000) | 0 | |||||
Total MTM Derivative Contract Net Assets (Liabilities) | [9] | 500,000 | 500,000 | 0 | |||||
Gross Amounts Offset in the Statement of Financial Position [Member] | Appalachian Power Co [Member] | |||||||||
Fair Value of Derivative Instruments | |||||||||
Current Risk Management Assets | [9] | (3,300,000) | (3,300,000) | (200,000) | |||||
Long-term Risk Management Assets | [9] | (400,000) | (400,000) | (700,000) | |||||
Total Assets | [9] | (3,700,000) | (3,700,000) | (900,000) | |||||
Current Risk Management Liabilities | [9] | (4,000,000) | (4,000,000) | (500,000) | |||||
Long-term Risk Management Liabilities | [9] | (400,000) | (400,000) | (600,000) | |||||
Total Liabilities | [9] | (4,400,000) | (4,400,000) | (1,100,000) | |||||
Total MTM Derivative Contract Net Assets (Liabilities) | [9] | 700,000 | 700,000 | 200,000 | |||||
Gross Amounts Offset in the Statement of Financial Position [Member] | Indiana Michigan Power Co [Member] | |||||||||
Fair Value of Derivative Instruments | |||||||||
Current Risk Management Assets | [9] | (900,000) | (900,000) | (800,000) | |||||
Long-term Risk Management Assets | [9] | (2,700,000) | (2,700,000) | (300,000) | |||||
Total Assets | [9] | (3,600,000) | (3,600,000) | (1,100,000) | |||||
Current Risk Management Liabilities | [9] | (1,400,000) | (1,400,000) | (900,000) | |||||
Long-term Risk Management Liabilities | [9] | (2,700,000) | (2,700,000) | (300,000) | |||||
Total Liabilities | [9] | (4,100,000) | (4,100,000) | (1,200,000) | |||||
Total MTM Derivative Contract Net Assets (Liabilities) | [9] | 500,000 | 500,000 | 100,000 | |||||
Gross Amounts Offset in the Statement of Financial Position [Member] | Ohio Power Co [Member] | |||||||||
Fair Value of Derivative Instruments | |||||||||
Current Risk Management Assets | [9] | 0 | 0 | 0 | |||||
Long-term Risk Management Assets | [9] | 0 | 0 | 0 | |||||
Total Assets | [9] | 0 | 0 | 0 | |||||
Current Risk Management Liabilities | [9] | (300,000) | (300,000) | (300,000) | |||||
Long-term Risk Management Liabilities | [9] | (100,000) | (100,000) | 0 | |||||
Total Liabilities | [9] | (400,000) | (400,000) | (300,000) | |||||
Total MTM Derivative Contract Net Assets (Liabilities) | [9] | 400,000 | 400,000 | 300,000 | |||||
Gross Amounts Offset in the Statement of Financial Position [Member] | Public Service Co Of Oklahoma [Member] | |||||||||
Fair Value of Derivative Instruments | |||||||||
Current Risk Management Assets | [9] | (2,600,000) | (2,600,000) | (400,000) | |||||
Long-term Risk Management Assets | [9] | (200,000) | (200,000) | 0 | |||||
Total Assets | [9] | (2,800,000) | (2,800,000) | (400,000) | |||||
Current Risk Management Liabilities | [9] | (2,800,000) | (2,800,000) | (500,000) | |||||
Long-term Risk Management Liabilities | [9] | (200,000) | (200,000) | 0 | |||||
Total Liabilities | [9] | (3,000,000) | (3,000,000) | (500,000) | |||||
Total MTM Derivative Contract Net Assets (Liabilities) | [9] | 200,000 | 200,000 | 100,000 | |||||
Gross Amounts Offset in the Statement of Financial Position [Member] | Southwestern Electric Power Co [Member] | |||||||||
Fair Value of Derivative Instruments | |||||||||
Current Risk Management Assets | [9] | (500,000) | (500,000) | (400,000) | |||||
Long-term Risk Management Assets | [9] | 0 | 0 | 0 | |||||
Total Assets | [9] | (500,000) | (500,000) | (400,000) | |||||
Current Risk Management Liabilities | [9] | (800,000) | (800,000) | (600,000) | |||||
Long-term Risk Management Liabilities | [9] | 0 | 0 | 0 | |||||
Total Liabilities | [9] | (800,000) | (800,000) | (600,000) | |||||
Total MTM Derivative Contract Net Assets (Liabilities) | [9] | 300,000 | 300,000 | 200,000 | |||||
Net Amounts of Assets/Liabilities Presented in the Statement of Financial Position [Member] | |||||||||
Fair Value of Derivative Instruments | |||||||||
Current Risk Management Assets | [10] | 279,500,000 | 279,500,000 | 348,800,000 | |||||
Long-term Risk Management Assets | [10] | 266,800,000 | 266,800,000 | 284,100,000 | |||||
Total Assets | [10] | 546,300,000 | 546,300,000 | 632,900,000 | |||||
Current Risk Management Liabilities | [10] | 176,200,000 | 176,200,000 | 145,200,000 | |||||
Long-term Risk Management Liabilities | [10] | 275,300,000 | 275,300,000 | 345,200,000 | |||||
Total Liabilities | [10] | 451,500,000 | 451,500,000 | 490,400,000 | |||||
Total MTM Derivative Contract Net Assets (Liabilities) | [10] | 94,800,000 | 94,800,000 | 142,500,000 | |||||
Net Amounts of Assets/Liabilities Presented in the Statement of Financial Position [Member] | AEP Texas Inc. [Member] | |||||||||
Fair Value of Derivative Instruments | |||||||||
Current Risk Management Assets | [10] | 0 | 0 | 0 | |||||
Long-term Risk Management Assets | [10] | 0 | 0 | 0 | |||||
Total Assets | [10] | 0 | 0 | 0 | |||||
Current Risk Management Liabilities | [10] | 0 | 0 | 0 | |||||
Long-term Risk Management Liabilities | [10] | 0 | 0 | 0 | |||||
Total Liabilities | [10] | 0 | 0 | 0 | |||||
Total MTM Derivative Contract Net Assets (Liabilities) | [10] | 0 | 0 | 0 | |||||
Net Amounts of Assets/Liabilities Presented in the Statement of Financial Position [Member] | Appalachian Power Co [Member] | |||||||||
Fair Value of Derivative Instruments | |||||||||
Current Risk Management Assets | [10] | 39,200,000 | 39,200,000 | 69,100,000 | |||||
Long-term Risk Management Assets | [10] | 200,000 | 200,000 | 0 | |||||
Total Assets | [10] | 39,400,000 | 39,400,000 | 69,100,000 | |||||
Current Risk Management Liabilities | [10] | 1,100,000 | 1,100,000 | 3,600,000 | |||||
Long-term Risk Management Liabilities | [10] | 0 | 0 | 100,000 | |||||
Total Liabilities | [10] | 1,100,000 | 1,100,000 | 3,700,000 | |||||
Total MTM Derivative Contract Net Assets (Liabilities) | [10] | 38,300,000 | 38,300,000 | 65,400,000 | |||||
Net Amounts of Assets/Liabilities Presented in the Statement of Financial Position [Member] | Indiana Michigan Power Co [Member] | |||||||||
Fair Value of Derivative Instruments | |||||||||
Current Risk Management Assets | [10] | 21,400,000 | 21,400,000 | 15,200,000 | |||||
Long-term Risk Management Assets | [10] | 9,100,000 | 9,100,000 | 200,000 | |||||
Total Assets | [10] | 30,500,000 | 30,500,000 | 15,400,000 | |||||
Current Risk Management Liabilities | [10] | 1,400,000 | 1,400,000 | 0 | |||||
Long-term Risk Management Liabilities | [10] | 0 | 0 | 0 | |||||
Total Liabilities | [10] | 1,400,000 | 1,400,000 | 0 | |||||
Total MTM Derivative Contract Net Assets (Liabilities) | [10] | 29,100,000 | 29,100,000 | 15,400,000 | |||||
Net Amounts of Assets/Liabilities Presented in the Statement of Financial Position [Member] | Ohio Power Co [Member] | |||||||||
Fair Value of Derivative Instruments | |||||||||
Current Risk Management Assets | [10] | 0 | 0 | 0 | |||||
Long-term Risk Management Assets | [10] | 0 | 0 | 0 | |||||
Total Assets | [10] | 0 | 0 | 0 | |||||
Current Risk Management Liabilities | [10] | 6,300,000 | 6,300,000 | 1,800,000 | |||||
Long-term Risk Management Liabilities | [10] | 47,700,000 | 47,700,000 | 37,900,000 | |||||
Total Liabilities | [10] | 54,000,000 | 54,000,000 | 39,700,000 | |||||
Total MTM Derivative Contract Net Assets (Liabilities) | [10] | (54,000,000) | (54,000,000) | (39,700,000) | |||||
Net Amounts of Assets/Liabilities Presented in the Statement of Financial Position [Member] | Public Service Co Of Oklahoma [Member] | |||||||||
Fair Value of Derivative Instruments | |||||||||
Current Risk Management Assets | [10] | 44,800,000 | 44,800,000 | 25,300,000 | |||||
Long-term Risk Management Assets | [10] | 0 | 0 | 0 | |||||
Total Assets | [10] | 44,800,000 | 44,800,000 | 25,300,000 | |||||
Current Risk Management Liabilities | [10] | 2,600,000 | 2,600,000 | 1,600,000 | |||||
Long-term Risk Management Liabilities | [10] | 800,000 | 800,000 | 0 | |||||
Total Liabilities | [10] | 3,400,000 | 3,400,000 | 1,600,000 | |||||
Total MTM Derivative Contract Net Assets (Liabilities) | [10] | 41,400,000 | 41,400,000 | 23,700,000 | |||||
Net Amounts of Assets/Liabilities Presented in the Statement of Financial Position [Member] | Southwestern Electric Power Co [Member] | |||||||||
Fair Value of Derivative Instruments | |||||||||
Current Risk Management Assets | [10] | 28,000,000 | 28,000,000 | 16,400,000 | |||||
Long-term Risk Management Assets | [10] | 0 | 0 | 0 | |||||
Total Assets | [10] | 28,000,000 | 28,000,000 | 16,400,000 | |||||
Current Risk Management Liabilities | [10] | 1,600,000 | 1,600,000 | 1,400,000 | |||||
Long-term Risk Management Liabilities | [10] | 200,000 | 200,000 | 0 | |||||
Total Liabilities | [10] | 1,800,000 | 1,800,000 | 1,400,000 | |||||
Total MTM Derivative Contract Net Assets (Liabilities) | [10] | $ 26,200,000 | $ 26,200,000 | $ 15,000,000 | |||||
Power [Member] | |||||||||
Commodity: | |||||||||
Derivative, Energy Notional Amount | MWh | 269.9 | 269.9 | 226.8 | ||||||
Power [Member] | AEP Texas Inc. [Member] | |||||||||
Commodity: | |||||||||
Derivative, Energy Notional Amount | MWh | 0 | 0 | 0 | ||||||
Power [Member] | Appalachian Power Co [Member] | |||||||||
Commodity: | |||||||||
Derivative, Energy Notional Amount | MWh | 29.1 | 29.1 | 17.9 | ||||||
Power [Member] | Indiana Michigan Power Co [Member] | |||||||||
Commodity: | |||||||||
Derivative, Energy Notional Amount | MWh | 9.2 | 9.2 | 4.2 | ||||||
Power [Member] | Ohio Power Co [Member] | |||||||||
Commodity: | |||||||||
Derivative, Energy Notional Amount | MWh | 2.3 | 2.3 | 2.5 | ||||||
Power [Member] | Public Service Co Of Oklahoma [Member] | |||||||||
Commodity: | |||||||||
Derivative, Energy Notional Amount | MWh | 8.7 | 8.7 | 2.9 | ||||||
Power [Member] | Southwestern Electric Power Co [Member] | |||||||||
Commodity: | |||||||||
Derivative, Energy Notional Amount | MWh | 6.9 | 6.9 | 2.2 | ||||||
Natural Gas [Member] | |||||||||
Commodity: | |||||||||
Derivative, Energy Notional Amount | MMBTU | 136.8 | 136.8 | 77.1 | ||||||
Natural Gas [Member] | AEP Texas Inc. [Member] | |||||||||
Commodity: | |||||||||
Derivative, Energy Notional Amount | MMBTU | 0 | 0 | 0 | ||||||
Natural Gas [Member] | Appalachian Power Co [Member] | |||||||||
Commodity: | |||||||||
Derivative, Energy Notional Amount | MMBTU | 5.2 | 5.2 | 1.9 | ||||||
Natural Gas [Member] | Indiana Michigan Power Co [Member] | |||||||||
Commodity: | |||||||||
Derivative, Energy Notional Amount | MMBTU | 0 | 0 | 0 | ||||||
Natural Gas [Member] | Ohio Power Co [Member] | |||||||||
Commodity: | |||||||||
Derivative, Energy Notional Amount | MMBTU | 0 | 0 | 0 | ||||||
Natural Gas [Member] | Public Service Co Of Oklahoma [Member] | |||||||||
Commodity: | |||||||||
Derivative, Energy Notional Amount | MMBTU | 28.3 | 28.3 | 1.9 | ||||||
Natural Gas [Member] | Southwestern Electric Power Co [Member] | |||||||||
Commodity: | |||||||||
Derivative, Energy Notional Amount | MMBTU | 7.3 | 7.3 | 2.1 | ||||||
Heating Oil and Gasoline [Member] | |||||||||
Commodity: | |||||||||
Derivative, Volume Notional Amount | gal | 6.7 | 6.7 | 6.9 | ||||||
Heating Oil and Gasoline [Member] | AEP Texas Inc. [Member] | |||||||||
Commodity: | |||||||||
Derivative, Volume Notional Amount | gal | 1.8 | 1.8 | 1.9 | ||||||
Heating Oil and Gasoline [Member] | Appalachian Power Co [Member] | |||||||||
Commodity: | |||||||||
Derivative, Volume Notional Amount | gal | 1 | 1 | 1 | ||||||
Heating Oil and Gasoline [Member] | Indiana Michigan Power Co [Member] | |||||||||
Commodity: | |||||||||
Derivative, Volume Notional Amount | gal | 0.6 | 0.6 | 0.7 | ||||||
Heating Oil and Gasoline [Member] | Ohio Power Co [Member] | |||||||||
Commodity: | |||||||||
Derivative, Volume Notional Amount | gal | 1.4 | 1.4 | 1.4 | ||||||
Heating Oil and Gasoline [Member] | Public Service Co Of Oklahoma [Member] | |||||||||
Commodity: | |||||||||
Derivative, Volume Notional Amount | gal | 0.9 | 0.9 | 0.9 | ||||||
Heating Oil and Gasoline [Member] | Southwestern Electric Power Co [Member] | |||||||||
Commodity: | |||||||||
Derivative, Volume Notional Amount | gal | 0.9 | 0.9 | 1 | ||||||
Interest Rate Contract [Member] | |||||||||
Commodity: | |||||||||
Derivative, Notional Amount | $ 91,400,000 | $ 91,400,000 | $ 99,900,000 | ||||||
Interest Rate Contract [Member] | AEP Texas Inc. [Member] | |||||||||
Commodity: | |||||||||
Derivative, Notional Amount | 0 | 0 | 0 | ||||||
Interest Rate Contract [Member] | Appalachian Power Co [Member] | |||||||||
Commodity: | |||||||||
Derivative, Notional Amount | 0 | 0 | 0 | ||||||
Interest Rate Contract [Member] | Indiana Michigan Power Co [Member] | |||||||||
Commodity: | |||||||||
Derivative, Notional Amount | 0 | 0 | 0 | ||||||
Interest Rate Contract [Member] | Ohio Power Co [Member] | |||||||||
Commodity: | |||||||||
Derivative, Notional Amount | 0 | 0 | 0 | ||||||
Interest Rate Contract [Member] | Public Service Co Of Oklahoma [Member] | |||||||||
Commodity: | |||||||||
Derivative, Notional Amount | 0 | 0 | 0 | ||||||
Interest Rate Contract [Member] | Southwestern Electric Power Co [Member] | |||||||||
Commodity: | |||||||||
Derivative, Notional Amount | 0 | 0 | $ 0 | ||||||
Vertically Integrated Utilities Revenues [Member] | |||||||||
Amount of Gain (Loss) Recognized on Risk Management Contracts | |||||||||
Amount of Gain (Loss) Recognized on Risk Management Contracts | 17,000,000 | 100,000 | 11,700,000 | 100,000 | |||||
Vertically Integrated Utilities Revenues [Member] | AEP Texas Inc. [Member] | |||||||||
Amount of Gain (Loss) Recognized on Risk Management Contracts | |||||||||
Amount of Gain (Loss) Recognized on Risk Management Contracts | 0 | 0 | 0 | 0 | |||||
Vertically Integrated Utilities Revenues [Member] | Appalachian Power Co [Member] | |||||||||
Amount of Gain (Loss) Recognized on Risk Management Contracts | |||||||||
Amount of Gain (Loss) Recognized on Risk Management Contracts | 0 | 0 | 0 | 0 | |||||
Vertically Integrated Utilities Revenues [Member] | Indiana Michigan Power Co [Member] | |||||||||
Amount of Gain (Loss) Recognized on Risk Management Contracts | |||||||||
Amount of Gain (Loss) Recognized on Risk Management Contracts | 0 | 0 | 0 | 0 | |||||
Vertically Integrated Utilities Revenues [Member] | Ohio Power Co [Member] | |||||||||
Amount of Gain (Loss) Recognized on Risk Management Contracts | |||||||||
Amount of Gain (Loss) Recognized on Risk Management Contracts | 0 | 0 | 0 | 0 | |||||
Vertically Integrated Utilities Revenues [Member] | Public Service Co Of Oklahoma [Member] | |||||||||
Amount of Gain (Loss) Recognized on Risk Management Contracts | |||||||||
Amount of Gain (Loss) Recognized on Risk Management Contracts | 0 | 0 | 0 | 0 | |||||
Vertically Integrated Utilities Revenues [Member] | Southwestern Electric Power Co [Member] | |||||||||
Amount of Gain (Loss) Recognized on Risk Management Contracts | |||||||||
Amount of Gain (Loss) Recognized on Risk Management Contracts | 0 | 0 | 0 | 0 | |||||
Generation and Marketing Revenues [Member] | |||||||||
Amount of Gain (Loss) Recognized on Risk Management Contracts | |||||||||
Amount of Gain (Loss) Recognized on Risk Management Contracts | (141,800,000) | 121,000,000 | (289,200,000) | 273,300,000 | |||||
Generation and Marketing Revenues [Member] | AEP Texas Inc. [Member] | |||||||||
Amount of Gain (Loss) Recognized on Risk Management Contracts | |||||||||
Amount of Gain (Loss) Recognized on Risk Management Contracts | 0 | 0 | 0 | 0 | |||||
Generation and Marketing Revenues [Member] | Appalachian Power Co [Member] | |||||||||
Amount of Gain (Loss) Recognized on Risk Management Contracts | |||||||||
Amount of Gain (Loss) Recognized on Risk Management Contracts | 0 | 0 | 0 | 0 | |||||
Generation and Marketing Revenues [Member] | Indiana Michigan Power Co [Member] | |||||||||
Amount of Gain (Loss) Recognized on Risk Management Contracts | |||||||||
Amount of Gain (Loss) Recognized on Risk Management Contracts | 0 | 0 | 0 | 0 | |||||
Generation and Marketing Revenues [Member] | Ohio Power Co [Member] | |||||||||
Amount of Gain (Loss) Recognized on Risk Management Contracts | |||||||||
Amount of Gain (Loss) Recognized on Risk Management Contracts | 0 | 0 | 0 | 0 | |||||
Generation and Marketing Revenues [Member] | Public Service Co Of Oklahoma [Member] | |||||||||
Amount of Gain (Loss) Recognized on Risk Management Contracts | |||||||||
Amount of Gain (Loss) Recognized on Risk Management Contracts | 0 | 0 | 0 | 0 | |||||
Generation and Marketing Revenues [Member] | Southwestern Electric Power Co [Member] | |||||||||
Amount of Gain (Loss) Recognized on Risk Management Contracts | |||||||||
Amount of Gain (Loss) Recognized on Risk Management Contracts | 0 | 0 | 0 | 0 | |||||
Electric Generation, Transmission and Distribution Revenues [Member] | |||||||||
Amount of Gain (Loss) Recognized on Risk Management Contracts | |||||||||
Amount of Gain (Loss) Recognized on Risk Management Contracts | 0 | 0 | 0 | ||||||
Electric Generation, Transmission and Distribution Revenues [Member] | AEP Texas Inc. [Member] | |||||||||
Amount of Gain (Loss) Recognized on Risk Management Contracts | |||||||||
Amount of Gain (Loss) Recognized on Risk Management Contracts | 0 | 0 | 0 | ||||||
Electric Generation, Transmission and Distribution Revenues [Member] | Appalachian Power Co [Member] | |||||||||
Amount of Gain (Loss) Recognized on Risk Management Contracts | |||||||||
Amount of Gain (Loss) Recognized on Risk Management Contracts | 0 | 0 | 100,000 | ||||||
Electric Generation, Transmission and Distribution Revenues [Member] | Indiana Michigan Power Co [Member] | |||||||||
Amount of Gain (Loss) Recognized on Risk Management Contracts | |||||||||
Amount of Gain (Loss) Recognized on Risk Management Contracts | 17,000,000 | 11,700,000 | (100,000) | ||||||
Electric Generation, Transmission and Distribution Revenues [Member] | Ohio Power Co [Member] | |||||||||
Amount of Gain (Loss) Recognized on Risk Management Contracts | |||||||||
Amount of Gain (Loss) Recognized on Risk Management Contracts | 0 | 0 | 0 | ||||||
Electric Generation, Transmission and Distribution Revenues [Member] | Public Service Co Of Oklahoma [Member] | |||||||||
Amount of Gain (Loss) Recognized on Risk Management Contracts | |||||||||
Amount of Gain (Loss) Recognized on Risk Management Contracts | 0 | 0 | 0 | ||||||
Electric Generation, Transmission and Distribution Revenues [Member] | Southwestern Electric Power Co [Member] | |||||||||
Amount of Gain (Loss) Recognized on Risk Management Contracts | |||||||||
Amount of Gain (Loss) Recognized on Risk Management Contracts | 0 | 0 | 0 | ||||||
Purchased Electricity, Fuel and Other Consumables Used for Electric Generation [Member] | |||||||||
Amount of Gain (Loss) Recognized on Risk Management Contracts | |||||||||
Amount of Gain (Loss) Recognized on Risk Management Contracts | 1,300,000 | 900,000 | 2,000,000 | 2,400,000 | |||||
Purchased Electricity, Fuel and Other Consumables Used for Electric Generation [Member] | AEP Texas Inc. [Member] | |||||||||
Amount of Gain (Loss) Recognized on Risk Management Contracts | |||||||||
Amount of Gain (Loss) Recognized on Risk Management Contracts | 0 | 0 | 0 | 0 | |||||
Purchased Electricity, Fuel and Other Consumables Used for Electric Generation [Member] | Appalachian Power Co [Member] | |||||||||
Amount of Gain (Loss) Recognized on Risk Management Contracts | |||||||||
Amount of Gain (Loss) Recognized on Risk Management Contracts | 1,300,000 | 700,000 | 1,900,000 | 2,100,000 | |||||
Purchased Electricity, Fuel and Other Consumables Used for Electric Generation [Member] | Indiana Michigan Power Co [Member] | |||||||||
Amount of Gain (Loss) Recognized on Risk Management Contracts | |||||||||
Amount of Gain (Loss) Recognized on Risk Management Contracts | 100,000 | 0 | 100,000 | 0 | |||||
Purchased Electricity, Fuel and Other Consumables Used for Electric Generation [Member] | Ohio Power Co [Member] | |||||||||
Amount of Gain (Loss) Recognized on Risk Management Contracts | |||||||||
Amount of Gain (Loss) Recognized on Risk Management Contracts | 0 | 0 | 0 | 0 | |||||
Purchased Electricity, Fuel and Other Consumables Used for Electric Generation [Member] | Public Service Co Of Oklahoma [Member] | |||||||||
Amount of Gain (Loss) Recognized on Risk Management Contracts | |||||||||
Amount of Gain (Loss) Recognized on Risk Management Contracts | 0 | 100,000 | 0 | 100,000 | |||||
Purchased Electricity, Fuel and Other Consumables Used for Electric Generation [Member] | Southwestern Electric Power Co [Member] | |||||||||
Amount of Gain (Loss) Recognized on Risk Management Contracts | |||||||||
Amount of Gain (Loss) Recognized on Risk Management Contracts | 0 | 0 | 0 | 0 | |||||
Other Operation Expense [Member] | |||||||||
Amount of Gain (Loss) Recognized on Risk Management Contracts | |||||||||
Amount of Gain (Loss) Recognized on Risk Management Contracts | (100,000) | 1,700,000 | (100,000) | 2,300,000 | |||||
Other Operation Expense [Member] | AEP Texas Inc. [Member] | |||||||||
Amount of Gain (Loss) Recognized on Risk Management Contracts | |||||||||
Amount of Gain (Loss) Recognized on Risk Management Contracts | 0 | 500,000 | 0 | 700,000 | |||||
Other Operation Expense [Member] | Appalachian Power Co [Member] | |||||||||
Amount of Gain (Loss) Recognized on Risk Management Contracts | |||||||||
Amount of Gain (Loss) Recognized on Risk Management Contracts | 0 | 200,000 | 0 | 200,000 | |||||
Other Operation Expense [Member] | Indiana Michigan Power Co [Member] | |||||||||
Amount of Gain (Loss) Recognized on Risk Management Contracts | |||||||||
Amount of Gain (Loss) Recognized on Risk Management Contracts | 0 | 200,000 | 0 | 300,000 | |||||
Other Operation Expense [Member] | Ohio Power Co [Member] | |||||||||
Amount of Gain (Loss) Recognized on Risk Management Contracts | |||||||||
Amount of Gain (Loss) Recognized on Risk Management Contracts | 0 | 300,000 | 0 | 400,000 | |||||
Other Operation Expense [Member] | Public Service Co Of Oklahoma [Member] | |||||||||
Amount of Gain (Loss) Recognized on Risk Management Contracts | |||||||||
Amount of Gain (Loss) Recognized on Risk Management Contracts | 0 | 200,000 | 0 | 300,000 | |||||
Other Operation Expense [Member] | Southwestern Electric Power Co [Member] | |||||||||
Amount of Gain (Loss) Recognized on Risk Management Contracts | |||||||||
Amount of Gain (Loss) Recognized on Risk Management Contracts | 0 | 300,000 | 0 | 400,000 | |||||
Maintenance Expense [Member] | |||||||||
Amount of Gain (Loss) Recognized on Risk Management Contracts | |||||||||
Amount of Gain (Loss) Recognized on Risk Management Contracts | (300,000) | 2,400,000 | (200,000) | 3,200,000 | |||||
Maintenance Expense [Member] | AEP Texas Inc. [Member] | |||||||||
Amount of Gain (Loss) Recognized on Risk Management Contracts | |||||||||
Amount of Gain (Loss) Recognized on Risk Management Contracts | (100,000) | 700,000 | (100,000) | 900,000 | |||||
Maintenance Expense [Member] | Appalachian Power Co [Member] | |||||||||
Amount of Gain (Loss) Recognized on Risk Management Contracts | |||||||||
Amount of Gain (Loss) Recognized on Risk Management Contracts | 0 | 400,000 | 0 | 500,000 | |||||
Maintenance Expense [Member] | Indiana Michigan Power Co [Member] | |||||||||
Amount of Gain (Loss) Recognized on Risk Management Contracts | |||||||||
Amount of Gain (Loss) Recognized on Risk Management Contracts | 0 | 200,000 | 0 | 300,000 | |||||
Maintenance Expense [Member] | Ohio Power Co [Member] | |||||||||
Amount of Gain (Loss) Recognized on Risk Management Contracts | |||||||||
Amount of Gain (Loss) Recognized on Risk Management Contracts | 0 | 400,000 | 0 | 500,000 | |||||
Maintenance Expense [Member] | Public Service Co Of Oklahoma [Member] | |||||||||
Amount of Gain (Loss) Recognized on Risk Management Contracts | |||||||||
Amount of Gain (Loss) Recognized on Risk Management Contracts | 0 | 300,000 | 0 | 400,000 | |||||
Maintenance Expense [Member] | Southwestern Electric Power Co [Member] | |||||||||
Amount of Gain (Loss) Recognized on Risk Management Contracts | |||||||||
Amount of Gain (Loss) Recognized on Risk Management Contracts | 0 | 400,000 | 0 | 500,000 | |||||
Regulatory Assets [Member] | |||||||||
Amount of Gain (Loss) Recognized on Risk Management Contracts | |||||||||
Amount of Gain (Loss) Recognized on Risk Management Contracts | [11] | (12,400,000) | 21,400,000 | (37,200,000) | 45,000,000 | ||||
Regulatory Assets [Member] | AEP Texas Inc. [Member] | |||||||||
Amount of Gain (Loss) Recognized on Risk Management Contracts | |||||||||
Amount of Gain (Loss) Recognized on Risk Management Contracts | [11] | (100,000) | 100,000 | (500,000) | 100,000 | ||||
Regulatory Assets [Member] | Appalachian Power Co [Member] | |||||||||
Amount of Gain (Loss) Recognized on Risk Management Contracts | |||||||||
Amount of Gain (Loss) Recognized on Risk Management Contracts | [11] | 5,900,000 | 100,000 | (1,200,000) | 0 | ||||
Regulatory Assets [Member] | Indiana Michigan Power Co [Member] | |||||||||
Amount of Gain (Loss) Recognized on Risk Management Contracts | |||||||||
Amount of Gain (Loss) Recognized on Risk Management Contracts | [11] | (1,600,000) | 300,000 | (2,100,000) | (1,300,000) | ||||
Regulatory Assets [Member] | Ohio Power Co [Member] | |||||||||
Amount of Gain (Loss) Recognized on Risk Management Contracts | |||||||||
Amount of Gain (Loss) Recognized on Risk Management Contracts | [11] | (12,800,000) | 21,000,000 | (25,100,000) | 44,900,000 | ||||
Regulatory Assets [Member] | Public Service Co Of Oklahoma [Member] | |||||||||
Amount of Gain (Loss) Recognized on Risk Management Contracts | |||||||||
Amount of Gain (Loss) Recognized on Risk Management Contracts | [11] | (2,300,000) | 0 | (3,500,000) | 3,600,000 | ||||
Regulatory Assets [Member] | Southwestern Electric Power Co [Member] | |||||||||
Amount of Gain (Loss) Recognized on Risk Management Contracts | |||||||||
Amount of Gain (Loss) Recognized on Risk Management Contracts | [11] | (900,000) | (100,000) | (2,400,000) | (2,200,000) | ||||
Regulatory Liabilities [Member] | |||||||||
Amount of Gain (Loss) Recognized on Risk Management Contracts | |||||||||
Amount of Gain (Loss) Recognized on Risk Management Contracts | [11] | 102,000,000 | 110,400,000 | 100,500,000 | 146,900,000 | ||||
Regulatory Liabilities [Member] | AEP Texas Inc. [Member] | |||||||||
Amount of Gain (Loss) Recognized on Risk Management Contracts | |||||||||
Amount of Gain (Loss) Recognized on Risk Management Contracts | [11] | 0 | 0 | 0 | 900,000 | ||||
Regulatory Liabilities [Member] | Appalachian Power Co [Member] | |||||||||
Amount of Gain (Loss) Recognized on Risk Management Contracts | |||||||||
Amount of Gain (Loss) Recognized on Risk Management Contracts | [11] | 17,400,000 | 21,600,000 | (8,800,000) | 20,200,000 | ||||
Regulatory Liabilities [Member] | Indiana Michigan Power Co [Member] | |||||||||
Amount of Gain (Loss) Recognized on Risk Management Contracts | |||||||||
Amount of Gain (Loss) Recognized on Risk Management Contracts | [11] | 3,600,000 | 1,500,000 | 4,800,000 | 3,200,000 | ||||
Regulatory Liabilities [Member] | Ohio Power Co [Member] | |||||||||
Amount of Gain (Loss) Recognized on Risk Management Contracts | |||||||||
Amount of Gain (Loss) Recognized on Risk Management Contracts | [11] | 0 | 1,600,000 | 0 | 1,600,000 | ||||
Regulatory Liabilities [Member] | Public Service Co Of Oklahoma [Member] | |||||||||
Amount of Gain (Loss) Recognized on Risk Management Contracts | |||||||||
Amount of Gain (Loss) Recognized on Risk Management Contracts | [11] | 42,400,000 | 39,000,000 | 60,400,000 | 51,700,000 | ||||
Regulatory Liabilities [Member] | Southwestern Electric Power Co [Member] | |||||||||
Amount of Gain (Loss) Recognized on Risk Management Contracts | |||||||||
Amount of Gain (Loss) Recognized on Risk Management Contracts | [11] | $ 33,600,000 | $ 36,900,000 | $ 45,500,000 | $ 57,800,000 | ||||
[1]Amounts include $(34) million and $(38) million as of June 30, 2023 and December 31, 2022, respectively, for the fair value hedge adjustment of hedged debt obligations for which hedge accounting has been discontinued.[2]Amounts included on the Balance Sheet within Noncurrent Liabilities line item Long-term Debt.[3]Gain (Loss) is included in Interest Expense on the statements of income.[4]Amounts in “Other’’ column primarily represent counterparty netting of risk management and hedging contracts and associated cash collateral under the accounting guidance for “Derivatives and Hedging.’’[5]The June 30, 2023 maturities of the net fair value of risk management contracts prior to cash collateral, assets/(liabilities), were as follows: Level 1 matures $(6) million in 2023 and $(8) million in periods 2024-2026; Level 2 matures $(27) million in 2023, $59 million in periods 2024-2026, $12 million in periods 2027-2028 and $2 million in periods 2029-2033; Level 3 matures $63 million in 2023, $56 million in periods 2024-2026, $1 million in periods 2027-2028 and $(14) million in periods 2029-2033. Risk management commodity contracts are substantially comprised of power contracts.[6]The December 31, 2022 maturities of the net fair value of risk management contracts prior to cash collateral, assets/(liabilities), were as follows: Level 1 matures $(7) million in 2023; Level 2 matures $182 million in 2023, $134 million in periods 2024-2026, $10 million in periods 2027-2028 and $1 million in periods 2029-2033; Level 3 matures $128 million in 2023, $6 million in periods 2024-2026, $6 million in periods 2027-2028 and $(5) million in periods 2029-2033. Risk management commodity contracts are substantially comprised of power contracts.[7]Substantially comprised of power contracts for the Registrant Subsidiaries.[8]Derivative instruments within these categories are disclosed as gross. These instruments are subject to master netting agreements and are presented on the balance sheets on a net basis in accordance with the accounting guidance for “Derivatives and Hedging.”[9]Amounts include counterparty netting of risk management and hedging contracts and associated cash collateral in accordance with the accounting guidance for “Derivatives and Hedging.”[10]All derivative contracts subject to a master netting arrangement or similar agreement are offset in the statement of financial position.[11]Represents realized and unrealized gains and losses subject to regulatory accounting treatment recorded as either current or noncurrent on the balance sheets. |
Fair Value Long-term Debt, Othe
Fair Value Long-term Debt, Other Temporary Investments, Nuclear Trusts (Details) - USD ($) | 3 Months Ended | 6 Months Ended | 12 Months Ended | |||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | Dec. 31, 2022 | ||
Book Values and Fair Values of Long - term Debt | ||||||
Total Long-term Debt Outstanding | $ 40,142,300,000 | $ 40,142,300,000 | $ 36,801,000,000 | |||
Long Term Debt, Fair Value | [1] | 36,351,300,000 | 36,351,300,000 | 32,915,900,000 | ||
Other Temporary Investments | ||||||
Cost | 232,800,000 | 232,800,000 | 223,600,000 | |||
Gross Unrealized Gains | 24,400,000 | 24,400,000 | 19,400,000 | |||
Gross Unrealized Losses | (8,900,000) | (8,900,000) | (8,300,000) | |||
Other Short-term Investments | 248,300,000 | 248,300,000 | 234,700,000 | |||
Debt and Equity Securities Within Other Temporary Investments | ||||||
Proceeds from Investment Sales | 0 | $ 11,100,000 | 0 | $ 15,000,000 | ||
Purchases of Investments | 1,300,000 | 800,000 | 2,300,000 | 1,600,000 | ||
Gross Realized Gains on Investment Sales | 0 | 3,300,000 | 0 | 3,600,000 | ||
Gross Realized Losses on Investment Sales | 0 | 400,000 | 0 | 500,000 | ||
Nuclear Trust Fund Investments | ||||||
Fair Value | 3,648,800,000 | 3,648,800,000 | 3,341,200,000 | |||
Securities Activity Within Decommissioning and SNF Trusts | ||||||
Payments to Acquire Investments | 1,235,600,000 | 1,254,800,000 | ||||
Contractual Maturities, Fair Value of Debt Securities | ||||||
Fair Value | 3,648,800,000 | 3,648,800,000 | 3,341,200,000 | |||
Spent Nuclear Fuel and Decommissioning Trusts [Member] | ||||||
Securities Activity Within Decommissioning and SNF Trusts | ||||||
Payments to Acquire Investments | 697,000,000 | 745,500,000 | 1,233,300,000 | 1,253,200,000 | ||
Realized Investment Gains (Losses) | 6,400,000 | 10,900,000 | 54,800,000 | 16,700,000 | ||
Gain (Loss) on Investments | 3,700,000 | 17,900,000 | 12,300,000 | 25,100,000 | ||
Contractual Maturities, Fair Value of Debt Securities | ||||||
Within 1 year | 325,000,000 | 325,000,000 | ||||
After 1 year through 5 years | 496,900,000 | 496,900,000 | ||||
After 5 years through 10 years | 219,200,000 | 219,200,000 | ||||
After 10 years | 222,900,000 | 222,900,000 | ||||
Fair Value Measurements (Textuals) | ||||||
Adjusted Cost of Debt Securities | 1,300,000,000 | 1,300,000,000 | 1,200,000,000 | |||
Adjusted Cost of Domestic Equity Securities | 640,000,000 | 640,000,000 | 654,000,000 | |||
Other than Temporary Impairment Losses, Investments | (27,300,000) | (28,500,000) | ||||
Proceeds from Sale of Other Investments | 688,700,000 | 736,400,000 | 1,206,300,000 | 1,229,900,000 | ||
Debt Securities, Available-for-Sale, Accumulated Gross Unrealized Loss, before Tax | (25,000,000) | (25,000,000) | (29,000,000) | |||
Debt Securities, Available-for-Sale, Accumulated Gross Unrealized Gain, before Tax | 1,736,400,000 | 1,736,400,000 | 1,496,300,000 | |||
Cash [Member] | ||||||
Other Temporary Investments | ||||||
Cost | [2] | 45,800,000 | 45,800,000 | 47,100,000 | ||
Gross Unrealized Gains | [2] | 0 | 0 | 0 | ||
Gross Unrealized Losses | [2] | 0 | 0 | 0 | ||
Other Short-term Investments | [2] | 45,800,000 | 45,800,000 | 47,100,000 | ||
Fixed Income Funds [Member] | ||||||
Nuclear Trust Fund Investments | ||||||
Fair Value | 1,264,000,000 | 1,264,000,000 | 1,188,700,000 | |||
Contractual Maturities, Fair Value of Debt Securities | ||||||
Fair Value | 1,264,000,000 | 1,264,000,000 | 1,188,700,000 | |||
Fixed Income Funds [Member] | Spent Nuclear Fuel and Decommissioning Trusts [Member] | ||||||
Fair Value Measurements (Textuals) | ||||||
Other than Temporary Impairment Losses, Investments | (27,300,000) | (28,500,000) | ||||
Debt Securities, Available-for-Sale, Accumulated Gross Unrealized Loss, before Tax | (20,400,000) | (20,400,000) | (22,600,000) | |||
Debt Securities, Available-for-Sale, Accumulated Gross Unrealized Gain, before Tax | 10,700,000 | 10,700,000 | 12,600,000 | |||
Mutual Funds Fixed Income [Member] | ||||||
Other Temporary Investments | ||||||
Cost | [3] | 155,700,000 | 155,700,000 | 152,400,000 | ||
Gross Unrealized Gains | [3] | 0 | 0 | 0 | ||
Gross Unrealized Losses | [3] | (8,900,000) | (8,900,000) | (8,300,000) | ||
Other Short-term Investments | [3] | 146,800,000 | 146,800,000 | 144,100,000 | ||
Domestic [Member] | ||||||
Nuclear Trust Fund Investments | ||||||
Fair Value | [4] | 2,360,600,000 | 2,360,600,000 | 2,131,300,000 | ||
Contractual Maturities, Fair Value of Debt Securities | ||||||
Fair Value | [4] | 2,360,600,000 | 2,360,600,000 | 2,131,300,000 | ||
Domestic [Member] | Spent Nuclear Fuel and Decommissioning Trusts [Member] | ||||||
Fair Value Measurements (Textuals) | ||||||
Other than Temporary Impairment Losses, Investments | 0 | 0 | ||||
Debt Securities, Available-for-Sale, Accumulated Gross Unrealized Loss, before Tax | (4,600,000) | (4,600,000) | (6,400,000) | |||
Debt Securities, Available-for-Sale, Accumulated Gross Unrealized Gain, before Tax | 1,725,700,000 | 1,725,700,000 | 1,483,700,000 | |||
Mutual Funds Equity [Member] | ||||||
Other Temporary Investments | ||||||
Cost | 15,400,000 | 15,400,000 | 15,100,000 | |||
Gross Unrealized Gains | 24,400,000 | 24,400,000 | 19,400,000 | |||
Gross Unrealized Losses | 0 | 0 | 0 | |||
Other Short-term Investments | [4] | 39,800,000 | 39,800,000 | 34,500,000 | ||
Cash and Cash Equivalents [Member] | ||||||
Nuclear Trust Fund Investments | ||||||
Fair Value | [5] | 24,200,000 | 24,200,000 | 21,200,000 | ||
Contractual Maturities, Fair Value of Debt Securities | ||||||
Fair Value | [5] | 24,200,000 | 24,200,000 | 21,200,000 | ||
Cash and Cash Equivalents [Member] | Spent Nuclear Fuel and Decommissioning Trusts [Member] | ||||||
Fair Value Measurements (Textuals) | ||||||
Other than Temporary Impairment Losses, Investments | 0 | 0 | ||||
Debt Securities, Available-for-Sale, Accumulated Gross Unrealized Loss, before Tax | 0 | 0 | 0 | |||
Debt Securities, Available-for-Sale, Accumulated Gross Unrealized Gain, before Tax | 0 | 0 | 0 | |||
US Government Agencies Debt Securities [Member] | ||||||
Nuclear Trust Fund Investments | ||||||
Fair Value | 1,191,900,000 | 1,191,900,000 | 1,123,800,000 | |||
Contractual Maturities, Fair Value of Debt Securities | ||||||
Fair Value | 1,191,900,000 | 1,191,900,000 | 1,123,800,000 | |||
US Government Agencies Debt Securities [Member] | Spent Nuclear Fuel and Decommissioning Trusts [Member] | ||||||
Fair Value Measurements (Textuals) | ||||||
Other than Temporary Impairment Losses, Investments | (25,600,000) | (18,800,000) | ||||
Debt Securities, Available-for-Sale, Accumulated Gross Unrealized Loss, before Tax | (13,800,000) | (13,800,000) | (14,900,000) | |||
Debt Securities, Available-for-Sale, Accumulated Gross Unrealized Gain, before Tax | 9,900,000 | 9,900,000 | 11,800,000 | |||
Corporate Debt [Member] | ||||||
Nuclear Trust Fund Investments | ||||||
Fair Value | 68,800,000 | 68,800,000 | 61,600,000 | |||
Contractual Maturities, Fair Value of Debt Securities | ||||||
Fair Value | 68,800,000 | 68,800,000 | 61,600,000 | |||
Corporate Debt [Member] | Spent Nuclear Fuel and Decommissioning Trusts [Member] | ||||||
Fair Value Measurements (Textuals) | ||||||
Other than Temporary Impairment Losses, Investments | (1,700,000) | (9,600,000) | ||||
Debt Securities, Available-for-Sale, Accumulated Gross Unrealized Loss, before Tax | (6,600,000) | (6,600,000) | (7,700,000) | |||
Debt Securities, Available-for-Sale, Accumulated Gross Unrealized Gain, before Tax | 800,000 | 800,000 | 700,000 | |||
State and Local Jurisdiction [Member] | ||||||
Nuclear Trust Fund Investments | ||||||
Fair Value | 3,300,000 | 3,300,000 | 3,300,000 | |||
Contractual Maturities, Fair Value of Debt Securities | ||||||
Fair Value | 3,300,000 | 3,300,000 | 3,300,000 | |||
State and Local Jurisdiction [Member] | Spent Nuclear Fuel and Decommissioning Trusts [Member] | ||||||
Fair Value Measurements (Textuals) | ||||||
Other than Temporary Impairment Losses, Investments | 0 | (100,000) | ||||
Debt Securities, Available-for-Sale, Accumulated Gross Unrealized Loss, before Tax | 0 | 0 | 0 | |||
Debt Securities, Available-for-Sale, Accumulated Gross Unrealized Gain, before Tax | 0 | 0 | 100,000 | |||
Other Cash Deposits [Member] | ||||||
Other Temporary Investments | ||||||
Cost | 15,900,000 | 15,900,000 | 9,000,000 | |||
Gross Unrealized Gains | 0 | 0 | 0 | |||
Gross Unrealized Losses | 0 | 0 | 0 | |||
Other Short-term Investments | 15,900,000 | 15,900,000 | 9,000,000 | |||
AEP Texas Inc. [Member] | ||||||
Book Values and Fair Values of Long - term Debt | ||||||
Total Long-term Debt Outstanding | 5,937,500,000 | 5,937,500,000 | 5,657,800,000 | |||
Long Term Debt, Fair Value | 5,295,500,000 | 5,295,500,000 | 5,045,800,000 | |||
AEP Transmission Co [Member] | ||||||
Book Values and Fair Values of Long - term Debt | ||||||
Total Long-term Debt Outstanding | 5,473,000,000 | 5,473,000,000 | 4,782,800,000 | |||
Long Term Debt, Fair Value | 4,719,200,000 | 4,719,200,000 | 3,940,500,000 | |||
Appalachian Power Co [Member] | ||||||
Book Values and Fair Values of Long - term Debt | ||||||
Total Long-term Debt Outstanding | 5,599,700,000 | 5,599,700,000 | 5,410,500,000 | |||
Long Term Debt, Fair Value | 5,298,400,000 | 5,298,400,000 | 5,079,200,000 | |||
Indiana Michigan Power Co [Member] | ||||||
Book Values and Fair Values of Long - term Debt | ||||||
Total Long-term Debt Outstanding | 3,464,100,000 | 3,464,100,000 | 3,260,800,000 | |||
Long Term Debt, Fair Value | 3,174,200,000 | 3,174,200,000 | 2,929,000,000 | |||
Nuclear Trust Fund Investments | ||||||
Fair Value | 3,648,800,000 | 3,648,800,000 | 3,341,200,000 | |||
Securities Activity Within Decommissioning and SNF Trusts | ||||||
Payments to Acquire Investments | 1,233,300,000 | 1,253,200,000 | ||||
Contractual Maturities, Fair Value of Debt Securities | ||||||
Fair Value | 3,648,800,000 | 3,648,800,000 | 3,341,200,000 | |||
Indiana Michigan Power Co [Member] | Spent Nuclear Fuel and Decommissioning Trusts [Member] | ||||||
Securities Activity Within Decommissioning and SNF Trusts | ||||||
Payments to Acquire Investments | 697,000,000 | 745,500,000 | 1,233,300,000 | 1,253,200,000 | ||
Realized Investment Gains (Losses) | 6,400,000 | 10,900,000 | 54,800,000 | 16,700,000 | ||
Gain (Loss) on Investments | 3,700,000 | 17,900,000 | 12,300,000 | 25,100,000 | ||
Contractual Maturities, Fair Value of Debt Securities | ||||||
Within 1 year | 325,000,000 | 325,000,000 | ||||
After 1 year through 5 years | 496,900,000 | 496,900,000 | ||||
After 5 years through 10 years | 219,200,000 | 219,200,000 | ||||
After 10 years | 222,900,000 | 222,900,000 | ||||
Fair Value Measurements (Textuals) | ||||||
Adjusted Cost of Debt Securities | 1,300,000,000 | 1,300,000,000 | 1,200,000,000 | |||
Adjusted Cost of Domestic Equity Securities | 640,000,000 | 640,000,000 | 654,000,000 | |||
Other than Temporary Impairment Losses, Investments | (27,300,000) | (28,500,000) | ||||
Proceeds from Sale of Other Investments | 688,700,000 | $ 736,400,000 | 1,206,300,000 | $ 1,229,900,000 | ||
Debt Securities, Available-for-Sale, Accumulated Gross Unrealized Loss, before Tax | (25,000,000) | (25,000,000) | (29,000,000) | |||
Debt Securities, Available-for-Sale, Accumulated Gross Unrealized Gain, before Tax | 1,736,400,000 | 1,736,400,000 | 1,496,300,000 | |||
Indiana Michigan Power Co [Member] | Fixed Income Funds [Member] | ||||||
Nuclear Trust Fund Investments | ||||||
Fair Value | 1,264,000,000 | 1,264,000,000 | 1,188,700,000 | |||
Contractual Maturities, Fair Value of Debt Securities | ||||||
Fair Value | 1,264,000,000 | 1,264,000,000 | 1,188,700,000 | |||
Indiana Michigan Power Co [Member] | Fixed Income Funds [Member] | Spent Nuclear Fuel and Decommissioning Trusts [Member] | ||||||
Fair Value Measurements (Textuals) | ||||||
Other than Temporary Impairment Losses, Investments | (27,300,000) | (28,500,000) | ||||
Debt Securities, Available-for-Sale, Accumulated Gross Unrealized Loss, before Tax | (20,400,000) | (20,400,000) | (22,600,000) | |||
Debt Securities, Available-for-Sale, Accumulated Gross Unrealized Gain, before Tax | 10,700,000 | 10,700,000 | 12,600,000 | |||
Indiana Michigan Power Co [Member] | Domestic [Member] | ||||||
Nuclear Trust Fund Investments | ||||||
Fair Value | [4] | 2,360,600,000 | 2,360,600,000 | 2,131,300,000 | ||
Contractual Maturities, Fair Value of Debt Securities | ||||||
Fair Value | [4] | 2,360,600,000 | 2,360,600,000 | 2,131,300,000 | ||
Indiana Michigan Power Co [Member] | Domestic [Member] | Spent Nuclear Fuel and Decommissioning Trusts [Member] | ||||||
Fair Value Measurements (Textuals) | ||||||
Other than Temporary Impairment Losses, Investments | 0 | 0 | ||||
Debt Securities, Available-for-Sale, Accumulated Gross Unrealized Loss, before Tax | (4,600,000) | (4,600,000) | (6,400,000) | |||
Debt Securities, Available-for-Sale, Accumulated Gross Unrealized Gain, before Tax | 1,725,700,000 | 1,725,700,000 | 1,483,700,000 | |||
Indiana Michigan Power Co [Member] | Cash and Cash Equivalents [Member] | ||||||
Nuclear Trust Fund Investments | ||||||
Fair Value | [5] | 24,200,000 | 24,200,000 | 21,200,000 | ||
Contractual Maturities, Fair Value of Debt Securities | ||||||
Fair Value | [5] | 24,200,000 | 24,200,000 | 21,200,000 | ||
Indiana Michigan Power Co [Member] | Cash and Cash Equivalents [Member] | Spent Nuclear Fuel and Decommissioning Trusts [Member] | ||||||
Fair Value Measurements (Textuals) | ||||||
Other than Temporary Impairment Losses, Investments | 0 | 0 | ||||
Debt Securities, Available-for-Sale, Accumulated Gross Unrealized Loss, before Tax | 0 | 0 | 0 | |||
Debt Securities, Available-for-Sale, Accumulated Gross Unrealized Gain, before Tax | 0 | 0 | 0 | |||
Indiana Michigan Power Co [Member] | US Government Agencies Debt Securities [Member] | ||||||
Nuclear Trust Fund Investments | ||||||
Fair Value | 1,191,900,000 | 1,191,900,000 | 1,123,800,000 | |||
Contractual Maturities, Fair Value of Debt Securities | ||||||
Fair Value | 1,191,900,000 | 1,191,900,000 | 1,123,800,000 | |||
Indiana Michigan Power Co [Member] | US Government Agencies Debt Securities [Member] | Spent Nuclear Fuel and Decommissioning Trusts [Member] | ||||||
Fair Value Measurements (Textuals) | ||||||
Other than Temporary Impairment Losses, Investments | (25,600,000) | (18,800,000) | ||||
Debt Securities, Available-for-Sale, Accumulated Gross Unrealized Loss, before Tax | (13,800,000) | (13,800,000) | (14,900,000) | |||
Debt Securities, Available-for-Sale, Accumulated Gross Unrealized Gain, before Tax | 9,900,000 | 9,900,000 | 11,800,000 | |||
Indiana Michigan Power Co [Member] | Corporate Debt [Member] | ||||||
Nuclear Trust Fund Investments | ||||||
Fair Value | 68,800,000 | 68,800,000 | 61,600,000 | |||
Contractual Maturities, Fair Value of Debt Securities | ||||||
Fair Value | 68,800,000 | 68,800,000 | 61,600,000 | |||
Indiana Michigan Power Co [Member] | Corporate Debt [Member] | Spent Nuclear Fuel and Decommissioning Trusts [Member] | ||||||
Fair Value Measurements (Textuals) | ||||||
Other than Temporary Impairment Losses, Investments | (1,700,000) | (9,600,000) | ||||
Debt Securities, Available-for-Sale, Accumulated Gross Unrealized Loss, before Tax | (6,600,000) | (6,600,000) | (7,700,000) | |||
Debt Securities, Available-for-Sale, Accumulated Gross Unrealized Gain, before Tax | 800,000 | 800,000 | 700,000 | |||
Indiana Michigan Power Co [Member] | State and Local Jurisdiction [Member] | ||||||
Nuclear Trust Fund Investments | ||||||
Fair Value | 3,300,000 | 3,300,000 | 3,300,000 | |||
Contractual Maturities, Fair Value of Debt Securities | ||||||
Fair Value | 3,300,000 | 3,300,000 | 3,300,000 | |||
Indiana Michigan Power Co [Member] | State and Local Jurisdiction [Member] | Spent Nuclear Fuel and Decommissioning Trusts [Member] | ||||||
Fair Value Measurements (Textuals) | ||||||
Other than Temporary Impairment Losses, Investments | 0 | (100,000) | ||||
Debt Securities, Available-for-Sale, Accumulated Gross Unrealized Loss, before Tax | 0 | 0 | 0 | |||
Debt Securities, Available-for-Sale, Accumulated Gross Unrealized Gain, before Tax | 0 | 0 | 100,000 | |||
Ohio Power Co [Member] | ||||||
Book Values and Fair Values of Long - term Debt | ||||||
Total Long-term Debt Outstanding | 3,365,600,000 | 3,365,600,000 | 2,970,300,000 | |||
Long Term Debt, Fair Value | 2,878,800,000 | 2,878,800,000 | 2,516,600,000 | |||
Public Service Co Of Oklahoma [Member] | ||||||
Book Values and Fair Values of Long - term Debt | ||||||
Total Long-term Debt Outstanding | 2,383,900,000 | 2,383,900,000 | 1,912,800,000 | |||
Long Term Debt, Fair Value | 2,106,100,000 | 2,106,100,000 | 1,635,800,000 | |||
Southwestern Electric Power Co [Member] | ||||||
Book Values and Fair Values of Long - term Debt | ||||||
Total Long-term Debt Outstanding | 3,645,600,000 | 3,645,600,000 | 3,391,600,000 | |||
Long Term Debt, Fair Value | 3,135,300,000 | 3,135,300,000 | 2,870,900,000 | |||
Equity Units [Member] | ||||||
Book Values and Fair Values of Long - term Debt | ||||||
Long Term Debt, Fair Value | $ 844,000,000 | $ 844,000,000 | $ 877,000,000 | |||
[1]The fair value amounts include debt related to AEP’s Equity Units and had a fair value of $844 million and $877 million as of June 30, 2023 and December 31, 2022, respectively. See “Equity Units” section of Note 12 for additional information.[2]Primarily represents amounts held for the repayment of debt.[3]Primarily short and intermediate maturities which may be sold and do not contain maturity dates.[4]Amounts represent publicly traded equity securities and equity-based mutual funds.[5]Amounts in “Other’’ column primarily represent accrued interest receivables from financial institutions. Level 1 amounts primarily represent investments in money market funds. |
Fair Value Assets and Liabiliti
Fair Value Assets and Liabilities (Details) - USD ($) | 3 Months Ended | 6 Months Ended | |||||||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | Dec. 31, 2022 | |||||
Other [Member] | |||||||||
Risk Management Assets | $ (774,100,000) | $ (774,100,000) | $ (1,264,300,000) | ||||||
Risk Management Liabilities | (736,600,000) | (736,600,000) | (784,700,000) | ||||||
Assets, Fair Value Disclosure | |||||||||
Other Short-term Investments | 15,900,000 | 15,900,000 | 9,000,000 | ||||||
Spent Nuclear Fuel and Decommissioning Trusts | |||||||||
Spent Nuclear Fuel and Decommissioning Trusts | 10,900,000 | 10,900,000 | 9,900,000 | ||||||
Total Assets | (747,300,000) | (747,300,000) | (1,245,400,000) | ||||||
Risk Management Assets | |||||||||
Risk Management Assets | (774,100,000) | (774,100,000) | (1,264,300,000) | ||||||
Liabilities, Fair Value Disclosure | |||||||||
Risk Management Liabilities | (736,600,000) | (736,600,000) | (784,700,000) | ||||||
Risk Management Assets | 546,300,000 | 546,300,000 | 632,900,000 | ||||||
Risk Management Liabilities | 451,500,000 | 451,500,000 | 490,400,000 | ||||||
Other Short-term Investments | 248,300,000 | 248,300,000 | 234,700,000 | ||||||
Spent Nuclear Fuel and Decommissioning Trusts | 3,648,800,000 | 3,648,800,000 | 3,341,200,000 | ||||||
Total Assets | 4,443,400,000 | 4,443,400,000 | 4,208,800,000 | ||||||
Risk Management Assets | 546,300,000 | 546,300,000 | 632,900,000 | ||||||
Risk Management Liabilities | 451,500,000 | 451,500,000 | 490,400,000 | ||||||
Changes in the Fair Value of Net Trading Derivatives and other investments | |||||||||
Beginning Balance | 45,100,000 | $ 82,800,000 | 160,400,000 | $ 103,100,000 | |||||
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Inputs Reconciliation, Gain (Loss) Included in Earnings | [1],[2] | (86,800,000) | 38,600,000 | (97,500,000) | 68,100,000 | ||||
Unrealized Gain (Loss) Included in Net Income (or Changes in Net Assets) Relating to Assets Still Held at the Reporting Date | [1] | (15,800,000) | (16,800,000) | (3,000,000) | (35,700,000) | ||||
Realized and Unrealized Gains (Losses) Included in Other Comprehensive Income | [3] | 4,700,000 | 5,700,000 | (15,000,000) | 22,500,000 | ||||
Settlements | 62,300,000 | (69,300,000) | (23,000,000) | (149,000,000) | |||||
Transfers into Level 3 | [4],[5] | 2,400,000 | (6,100,000) | 4,400,000 | |||||
Transfers out of Level 3 | [5] | (3,100,000) | 5,800,000 | (1,300,000) | 9,600,000 | ||||
Changes in Fair Value Allocated to Regulated Jurisdiction | [6] | 119,700,000 | 234,700,000 | 111,600,000 | 260,900,000 | ||||
Ending Balance | 126,100,000 | 283,900,000 | 126,100,000 | 283,900,000 | |||||
Fair Value Measurements 1 (Textuals) | |||||||||
Assets Held for Sale | 1,382,800,000 | 1,382,800,000 | 0 | ||||||
Liabilities Held for Sale | 64,800,000 | 64,800,000 | 0 | ||||||
Total Long-term Debt Outstanding | 40,142,300,000 | 40,142,300,000 | 36,801,000,000 | ||||||
Level 1 [Member] | |||||||||
Risk Management Assets | 12,500,000 | 12,500,000 | 15,000,000 | ||||||
Risk Management Liabilities | 26,500,000 | 26,500,000 | 21,800,000 | ||||||
Assets, Fair Value Disclosure | |||||||||
Other Short-term Investments | 232,400,000 | 232,400,000 | 225,700,000 | ||||||
Spent Nuclear Fuel and Decommissioning Trusts | |||||||||
Spent Nuclear Fuel and Decommissioning Trusts | 2,373,900,000 | 2,373,900,000 | 2,142,600,000 | ||||||
Total Assets | 2,618,800,000 | 2,618,800,000 | 2,383,300,000 | ||||||
Risk Management Assets | |||||||||
Risk Management Assets | 12,500,000 | 12,500,000 | 15,000,000 | ||||||
Liabilities, Fair Value Disclosure | |||||||||
Risk Management Liabilities | 26,500,000 | 26,500,000 | 21,800,000 | ||||||
Level 2 [Member] | |||||||||
Risk Management Assets | 1,012,000,000 | 1,012,000,000 | 1,541,100,000 | ||||||
Risk Management Liabilities | 991,800,000 | 991,800,000 | 1,072,600,000 | ||||||
Assets, Fair Value Disclosure | |||||||||
Other Short-term Investments | 0 | 0 | 0 | ||||||
Spent Nuclear Fuel and Decommissioning Trusts | |||||||||
Spent Nuclear Fuel and Decommissioning Trusts | 1,264,000,000 | 1,264,000,000 | 1,188,700,000 | ||||||
Total Assets | 2,276,000,000 | 2,276,000,000 | 2,729,800,000 | ||||||
Risk Management Assets | |||||||||
Risk Management Assets | 1,012,000,000 | 1,012,000,000 | 1,541,100,000 | ||||||
Liabilities, Fair Value Disclosure | |||||||||
Risk Management Liabilities | 991,800,000 | 991,800,000 | 1,072,600,000 | ||||||
Level 3 [Member] | |||||||||
Risk Management Assets | 295,900,000 | 295,900,000 | 341,100,000 | ||||||
Risk Management Liabilities | 169,800,000 | 169,800,000 | 180,700,000 | ||||||
Assets, Fair Value Disclosure | |||||||||
Other Short-term Investments | 0 | 0 | 0 | ||||||
Spent Nuclear Fuel and Decommissioning Trusts | |||||||||
Spent Nuclear Fuel and Decommissioning Trusts | 0 | 0 | 0 | ||||||
Total Assets | 295,900,000 | 295,900,000 | 341,100,000 | ||||||
Risk Management Assets | |||||||||
Risk Management Assets | 295,900,000 | 295,900,000 | 341,100,000 | ||||||
Liabilities, Fair Value Disclosure | |||||||||
Risk Management Liabilities | 169,800,000 | 169,800,000 | 180,700,000 | ||||||
2023 [Member] | Level 1 [Member] | |||||||||
Fair Value Measurements 1 (Textuals) | |||||||||
Maturity of Net Fair Value of Risk Management Contracts Prior to Cash Collateral, Assets/Liabilities | (6,000,000) | (6,000,000) | (7,000,000) | ||||||
2023 [Member] | Level 2 [Member] | |||||||||
Fair Value Measurements 1 (Textuals) | |||||||||
Maturity of Net Fair Value of Risk Management Contracts Prior to Cash Collateral, Assets/Liabilities | (27,000,000) | (27,000,000) | 182,000,000 | ||||||
2023 [Member] | Level 3 [Member] | |||||||||
Fair Value Measurements 1 (Textuals) | |||||||||
Maturity of Net Fair Value of Risk Management Contracts Prior to Cash Collateral, Assets/Liabilities | 63,000,000 | 63,000,000 | 128,000,000 | ||||||
2024 - 2026 [Member] | Level 1 [Member] | |||||||||
Fair Value Measurements 1 (Textuals) | |||||||||
Maturity of Net Fair Value of Risk Management Contracts Prior to Cash Collateral, Assets/Liabilities | (8,000,000) | (8,000,000) | |||||||
2024 - 2026 [Member] | Level 2 [Member] | |||||||||
Fair Value Measurements 1 (Textuals) | |||||||||
Maturity of Net Fair Value of Risk Management Contracts Prior to Cash Collateral, Assets/Liabilities | 59,000,000 | 59,000,000 | 134,000,000 | ||||||
2024 - 2026 [Member] | Level 3 [Member] | |||||||||
Fair Value Measurements 1 (Textuals) | |||||||||
Maturity of Net Fair Value of Risk Management Contracts Prior to Cash Collateral, Assets/Liabilities | 56,000,000 | 56,000,000 | 6,000,000 | ||||||
2027 - 2028 [Member] | Level 2 [Member] | |||||||||
Fair Value Measurements 1 (Textuals) | |||||||||
Maturity of Net Fair Value of Risk Management Contracts Prior to Cash Collateral, Assets/Liabilities | 12,000,000 | 12,000,000 | 10,000,000 | ||||||
2027 - 2028 [Member] | Level 3 [Member] | |||||||||
Fair Value Measurements 1 (Textuals) | |||||||||
Maturity of Net Fair Value of Risk Management Contracts Prior to Cash Collateral, Assets/Liabilities | 1,000,000 | 1,000,000 | 6,000,000 | ||||||
2029 - 2033 [Member] | Level 2 [Member] | |||||||||
Fair Value Measurements 1 (Textuals) | |||||||||
Maturity of Net Fair Value of Risk Management Contracts Prior to Cash Collateral, Assets/Liabilities | 2,000,000 | 2,000,000 | 1,000,000 | ||||||
2029 - 2033 [Member] | Level 3 [Member] | |||||||||
Fair Value Measurements 1 (Textuals) | |||||||||
Maturity of Net Fair Value of Risk Management Contracts Prior to Cash Collateral, Assets/Liabilities | (14,000,000) | (14,000,000) | (5,000,000) | ||||||
Risk Management Commodity Contracts [Member] | Other [Member] | |||||||||
Risk Management Assets | [7] | (756,900,000) | [8] | (756,900,000) | [8] | (1,211,500,000) | [9] | ||
Risk Management Liabilities | [7] | (719,400,000) | [8] | (719,400,000) | [8] | (731,900,000) | [9] | ||
Risk Management Assets | |||||||||
Risk Management Assets | [7] | (756,900,000) | [8] | (756,900,000) | [8] | (1,211,500,000) | [9] | ||
Liabilities, Fair Value Disclosure | |||||||||
Risk Management Liabilities | [7] | (719,400,000) | [8] | (719,400,000) | [8] | (731,900,000) | [9] | ||
Risk Management Commodity Contracts [Member] | |||||||||
Risk Management Assets | [7] | 425,700,000 | [8] | 425,700,000 | [8] | 315,400,000 | [9] | ||
Risk Management Liabilities | [7] | 325,200,000 | [8] | 325,200,000 | [8] | 339,800,000 | [9] | ||
Risk Management Assets | |||||||||
Risk Management Assets | [7] | 425,700,000 | [8] | 425,700,000 | [8] | 315,400,000 | [9] | ||
Liabilities, Fair Value Disclosure | |||||||||
Risk Management Liabilities | [7] | 325,200,000 | [8] | 325,200,000 | [8] | 339,800,000 | [9] | ||
Risk Management Commodity Contracts [Member] | Level 1 [Member] | |||||||||
Risk Management Assets | [7] | 12,500,000 | [8] | 12,500,000 | [8] | 15,000,000 | [9] | ||
Risk Management Liabilities | [7] | 26,500,000 | [8] | 26,500,000 | [8] | 21,800,000 | [9] | ||
Risk Management Assets | |||||||||
Risk Management Assets | [7] | 12,500,000 | [8] | 12,500,000 | [8] | 15,000,000 | [9] | ||
Liabilities, Fair Value Disclosure | |||||||||
Risk Management Liabilities | [7] | 26,500,000 | [8] | 26,500,000 | [8] | 21,800,000 | [9] | ||
Risk Management Commodity Contracts [Member] | Level 2 [Member] | |||||||||
Risk Management Assets | [7] | 893,600,000 | [8] | 893,600,000 | [8] | 1,197,500,000 | [9] | ||
Risk Management Liabilities | [7] | 848,300,000 | [8] | 848,300,000 | [8] | 870,900,000 | [9] | ||
Risk Management Assets | |||||||||
Risk Management Assets | [7] | 893,600,000 | [8] | 893,600,000 | [8] | 1,197,500,000 | [9] | ||
Liabilities, Fair Value Disclosure | |||||||||
Risk Management Liabilities | [7] | 848,300,000 | [8] | 848,300,000 | [8] | 870,900,000 | [9] | ||
Risk Management Commodity Contracts [Member] | Level 3 [Member] | |||||||||
Risk Management Assets | [7] | 276,500,000 | [8] | 276,500,000 | [8] | 314,400,000 | [9] | ||
Risk Management Liabilities | [7] | 169,800,000 | [8] | 169,800,000 | [8] | 179,000,000 | [9] | ||
Risk Management Assets | |||||||||
Risk Management Assets | [7] | 276,500,000 | [8] | 276,500,000 | [8] | 314,400,000 | [9] | ||
Liabilities, Fair Value Disclosure | |||||||||
Risk Management Liabilities | [7] | 169,800,000 | [8] | 169,800,000 | [8] | 179,000,000 | [9] | ||
Energy Contracts [Member] | Level 3 [Member] | |||||||||
Risk Management Assets | 158,400,000 | 158,400,000 | 204,000,000 | ||||||
Risk Management Liabilities | 158,100,000 | 158,100,000 | 167,400,000 | ||||||
Risk Management Assets | |||||||||
Risk Management Assets | 158,400,000 | 158,400,000 | 204,000,000 | ||||||
Liabilities, Fair Value Disclosure | |||||||||
Risk Management Liabilities | 158,100,000 | 158,100,000 | 167,400,000 | ||||||
Energy Contracts [Member] | Weighted Average [Member] | Level 3 [Member] | |||||||||
Fair Value Significant Unobservable Input Price Per Unit | [10],[11] | 44.95 | 44.95 | 49.14 | |||||
Level 3 Quantitative Information | |||||||||
Fair Value Significant Unobservable Input Price Per Unit | [10],[11] | 44.95 | 44.95 | 49.14 | |||||
Energy Contracts [Member] | Low [Member] | Level 3 [Member] | |||||||||
Fair Value Significant Unobservable Input Price Per Unit | [10] | 1.89 | 1.89 | 2.91 | |||||
Level 3 Quantitative Information | |||||||||
Fair Value Significant Unobservable Input Price Per Unit | [10] | 1.89 | 1.89 | 2.91 | |||||
Energy Contracts [Member] | High [Member] | Level 3 [Member] | |||||||||
Fair Value Significant Unobservable Input Price Per Unit | [10] | 90.40 | 90.40 | 187.34 | |||||
Level 3 Quantitative Information | |||||||||
Fair Value Significant Unobservable Input Price Per Unit | [10] | 90.40 | 90.40 | 187.34 | |||||
Natural Gas Contracts [Member] | Level 3 [Member] | |||||||||
Risk Management Assets | 200,000 | 200,000 | |||||||
Risk Management Liabilities | 200,000 | 200,000 | |||||||
Risk Management Assets | |||||||||
Risk Management Assets | 200,000 | 200,000 | |||||||
Liabilities, Fair Value Disclosure | |||||||||
Risk Management Liabilities | 200,000 | 200,000 | |||||||
Natural Gas Contracts [Member] | Weighted Average [Member] | Level 3 [Member] | |||||||||
Fair Value Significant Unobservable Input Price Per Unit | [11],[12] | 3.21 | 3.21 | ||||||
Level 3 Quantitative Information | |||||||||
Fair Value Significant Unobservable Input Price Per Unit | [11],[12] | 3.21 | 3.21 | ||||||
Natural Gas Contracts [Member] | Low [Member] | Level 3 [Member] | |||||||||
Fair Value Significant Unobservable Input Price Per Unit | [12] | 2.14 | 2.14 | ||||||
Level 3 Quantitative Information | |||||||||
Fair Value Significant Unobservable Input Price Per Unit | [12] | 2.14 | 2.14 | ||||||
Natural Gas Contracts [Member] | High [Member] | Level 3 [Member] | |||||||||
Fair Value Significant Unobservable Input Price Per Unit | [12] | 4.21 | 4.21 | ||||||
Level 3 Quantitative Information | |||||||||
Fair Value Significant Unobservable Input Price Per Unit | [12] | 4.21 | 4.21 | ||||||
FTRs [Member] | Level 3 [Member] | |||||||||
Risk Management Assets | 137,300,000 | 137,300,000 | 137,100,000 | ||||||
Risk Management Liabilities | 11,500,000 | 11,500,000 | 13,300,000 | ||||||
Risk Management Assets | |||||||||
Risk Management Assets | 137,300,000 | 137,300,000 | 137,100,000 | ||||||
Liabilities, Fair Value Disclosure | |||||||||
Risk Management Liabilities | 11,500,000 | 11,500,000 | 13,300,000 | ||||||
FTRs [Member] | Weighted Average [Member] | Level 3 [Member] | |||||||||
Fair Value Significant Unobservable Input Price Per Unit | [10],[11] | (0.20) | (0.20) | 1.18 | |||||
Level 3 Quantitative Information | |||||||||
Fair Value Significant Unobservable Input Price Per Unit | [10],[11] | (0.20) | (0.20) | 1.18 | |||||
FTRs [Member] | Low [Member] | Level 3 [Member] | |||||||||
Fair Value Significant Unobservable Input Price Per Unit | [10] | (17.92) | (17.92) | (36.45) | |||||
Level 3 Quantitative Information | |||||||||
Fair Value Significant Unobservable Input Price Per Unit | [10] | (17.92) | (17.92) | (36.45) | |||||
FTRs [Member] | High [Member] | Level 3 [Member] | |||||||||
Fair Value Significant Unobservable Input Price Per Unit | [10] | 11.35 | 11.35 | 20.72 | |||||
Level 3 Quantitative Information | |||||||||
Fair Value Significant Unobservable Input Price Per Unit | [10] | 11.35 | 11.35 | 20.72 | |||||
Commodity Hedges [Member] | Other [Member] | |||||||||
Risk Management Assets | [7] | (17,200,000) | (17,200,000) | (52,800,000) | |||||
Risk Management Liabilities | [7] | (17,200,000) | (17,200,000) | (52,800,000) | |||||
Risk Management Assets | |||||||||
Risk Management Assets | [7] | (17,200,000) | (17,200,000) | (52,800,000) | |||||
Liabilities, Fair Value Disclosure | |||||||||
Risk Management Liabilities | [7] | (17,200,000) | (17,200,000) | (52,800,000) | |||||
Commodity Hedges [Member] | |||||||||
Risk Management Assets | [7] | 120,600,000 | 120,600,000 | 306,500,000 | |||||
Risk Management Liabilities | [7] | 1,600,000 | 1,600,000 | 23,200,000 | |||||
Risk Management Assets | |||||||||
Risk Management Assets | [7] | 120,600,000 | 120,600,000 | 306,500,000 | |||||
Liabilities, Fair Value Disclosure | |||||||||
Risk Management Liabilities | [7] | 1,600,000 | 1,600,000 | 23,200,000 | |||||
Commodity Hedges [Member] | Level 1 [Member] | |||||||||
Risk Management Assets | [7] | 0 | 0 | 0 | |||||
Risk Management Liabilities | [7] | 0 | 0 | 0 | |||||
Risk Management Assets | |||||||||
Risk Management Assets | [7] | 0 | 0 | 0 | |||||
Liabilities, Fair Value Disclosure | |||||||||
Risk Management Liabilities | [7] | 0 | 0 | 0 | |||||
Commodity Hedges [Member] | Level 2 [Member] | |||||||||
Risk Management Assets | [7] | 118,400,000 | 118,400,000 | 332,600,000 | |||||
Risk Management Liabilities | [7] | 18,800,000 | 18,800,000 | 74,300,000 | |||||
Risk Management Assets | |||||||||
Risk Management Assets | [7] | 118,400,000 | 118,400,000 | 332,600,000 | |||||
Liabilities, Fair Value Disclosure | |||||||||
Risk Management Liabilities | [7] | 18,800,000 | 18,800,000 | 74,300,000 | |||||
Commodity Hedges [Member] | Level 3 [Member] | |||||||||
Risk Management Assets | [7] | 19,400,000 | 19,400,000 | 26,700,000 | |||||
Risk Management Liabilities | [7] | 0 | 0 | 1,700,000 | |||||
Risk Management Assets | |||||||||
Risk Management Assets | [7] | 19,400,000 | 19,400,000 | 26,700,000 | |||||
Liabilities, Fair Value Disclosure | |||||||||
Risk Management Liabilities | [7] | 0 | 0 | 1,700,000 | |||||
Interest Rate [Member] | Other [Member] | |||||||||
Risk Management Assets | 0 | ||||||||
Risk Management Assets | |||||||||
Risk Management Assets | 0 | ||||||||
Interest Rate [Member] | |||||||||
Risk Management Assets | 11,000,000 | ||||||||
Risk Management Assets | |||||||||
Risk Management Assets | 11,000,000 | ||||||||
Interest Rate [Member] | Level 1 [Member] | |||||||||
Risk Management Assets | 0 | ||||||||
Risk Management Assets | |||||||||
Risk Management Assets | 0 | ||||||||
Interest Rate [Member] | Level 2 [Member] | |||||||||
Risk Management Assets | 11,000,000 | ||||||||
Risk Management Assets | |||||||||
Risk Management Assets | 11,000,000 | ||||||||
Interest Rate [Member] | Level 3 [Member] | |||||||||
Risk Management Assets | 0 | ||||||||
Risk Management Assets | |||||||||
Risk Management Assets | 0 | ||||||||
Fair Value Hedges [Member] | Other [Member] | |||||||||
Risk Management Liabilities | 0 | 0 | 0 | ||||||
Liabilities, Fair Value Disclosure | |||||||||
Risk Management Liabilities | 0 | 0 | 0 | ||||||
Fair Value Hedges [Member] | |||||||||
Risk Management Liabilities | 124,700,000 | 124,700,000 | 127,400,000 | ||||||
Liabilities, Fair Value Disclosure | |||||||||
Risk Management Liabilities | 124,700,000 | 124,700,000 | 127,400,000 | ||||||
Fair Value Hedges [Member] | Level 1 [Member] | |||||||||
Risk Management Liabilities | 0 | 0 | 0 | ||||||
Liabilities, Fair Value Disclosure | |||||||||
Risk Management Liabilities | 0 | 0 | 0 | ||||||
Fair Value Hedges [Member] | Level 2 [Member] | |||||||||
Risk Management Liabilities | 124,700,000 | 124,700,000 | 127,400,000 | ||||||
Liabilities, Fair Value Disclosure | |||||||||
Risk Management Liabilities | 124,700,000 | 124,700,000 | 127,400,000 | ||||||
Fair Value Hedges [Member] | Level 3 [Member] | |||||||||
Risk Management Liabilities | 0 | 0 | 0 | ||||||
Liabilities, Fair Value Disclosure | |||||||||
Risk Management Liabilities | 0 | 0 | 0 | ||||||
AEP Texas Inc. [Member] | Other [Member] | |||||||||
Assets, Fair Value Disclosure | |||||||||
Cash and Cash Equivalents | 0 | 0 | 0 | ||||||
AEP Texas Inc. [Member] | |||||||||
Assets, Fair Value Disclosure | |||||||||
Cash and Cash Equivalents | 30,700,000 | 30,700,000 | 32,700,000 | ||||||
Fair Value Measurements 1 (Textuals) | |||||||||
Total Long-term Debt Outstanding | 5,937,500,000 | 5,937,500,000 | 5,657,800,000 | ||||||
AEP Texas Inc. [Member] | Level 1 [Member] | |||||||||
Assets, Fair Value Disclosure | |||||||||
Cash and Cash Equivalents | 30,700,000 | 30,700,000 | 32,700,000 | ||||||
AEP Texas Inc. [Member] | Level 2 [Member] | |||||||||
Assets, Fair Value Disclosure | |||||||||
Cash and Cash Equivalents | 0 | 0 | 0 | ||||||
AEP Texas Inc. [Member] | Level 3 [Member] | |||||||||
Assets, Fair Value Disclosure | |||||||||
Cash and Cash Equivalents | 0 | 0 | 0 | ||||||
AEP Texas Inc. [Member] | Risk Management Commodity Contracts [Member] | Other [Member] | |||||||||
Risk Management Liabilities | [7] | (500,000) | (500,000) | ||||||
Liabilities, Fair Value Disclosure | |||||||||
Risk Management Liabilities | [7] | (500,000) | (500,000) | ||||||
AEP Texas Inc. [Member] | Risk Management Commodity Contracts [Member] | |||||||||
Risk Management Liabilities | [7] | 0 | 0 | ||||||
Liabilities, Fair Value Disclosure | |||||||||
Risk Management Liabilities | [7] | 0 | 0 | ||||||
AEP Texas Inc. [Member] | Risk Management Commodity Contracts [Member] | Level 1 [Member] | |||||||||
Risk Management Liabilities | [7] | 0 | 0 | ||||||
Liabilities, Fair Value Disclosure | |||||||||
Risk Management Liabilities | [7] | 0 | 0 | ||||||
AEP Texas Inc. [Member] | Risk Management Commodity Contracts [Member] | Level 2 [Member] | |||||||||
Risk Management Liabilities | [7] | 500,000 | 500,000 | ||||||
Liabilities, Fair Value Disclosure | |||||||||
Risk Management Liabilities | [7] | 500,000 | 500,000 | ||||||
AEP Texas Inc. [Member] | Risk Management Commodity Contracts [Member] | Level 3 [Member] | |||||||||
Risk Management Liabilities | [7] | 0 | 0 | ||||||
Liabilities, Fair Value Disclosure | |||||||||
Risk Management Liabilities | [7] | 0 | 0 | ||||||
AEP Transmission Co [Member] | |||||||||
Fair Value Measurements 1 (Textuals) | |||||||||
Total Long-term Debt Outstanding | 5,473,000,000 | 5,473,000,000 | 4,782,800,000 | ||||||
Appalachian Power Co [Member] | Other [Member] | |||||||||
Assets, Fair Value Disclosure | |||||||||
Cash and Cash Equivalents | 0 | 0 | 0 | ||||||
Spent Nuclear Fuel and Decommissioning Trusts | |||||||||
Total Assets | (3,300,000) | (3,300,000) | (1,000,000) | ||||||
Appalachian Power Co [Member] | |||||||||
Assets, Fair Value Disclosure | |||||||||
Cash and Cash Equivalents | 15,100,000 | 15,100,000 | 14,400,000 | ||||||
Spent Nuclear Fuel and Decommissioning Trusts | |||||||||
Total Assets | 54,500,000 | 54,500,000 | 83,500,000 | ||||||
Changes in the Fair Value of Net Trading Derivatives and other investments | |||||||||
Beginning Balance | 5,700,000 | 6,600,000 | 69,100,000 | 41,700,000 | |||||
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Inputs Reconciliation, Gain (Loss) Included in Earnings | [1],[2] | (11,900,000) | 5,700,000 | (47,900,000) | 3,000,000 | ||||
Unrealized Gain (Loss) Included in Net Income (or Changes in Net Assets) Relating to Assets Still Held at the Reporting Date | [1] | 0 | 0 | 0 | 0 | ||||
Realized and Unrealized Gains (Losses) Included in Other Comprehensive Income | [3] | 0 | 0 | 0 | 0 | ||||
Settlements | 6,200,000 | (12,400,000) | (21,100,000) | (44,700,000) | |||||
Transfers into Level 3 | [4],[5] | 0 | 0 | 0 | |||||
Transfers out of Level 3 | [5] | 0 | 0 | 0 | 0 | ||||
Changes in Fair Value Allocated to Regulated Jurisdiction | [6] | 39,400,000 | 79,700,000 | 39,300,000 | 79,600,000 | ||||
Ending Balance | 39,400,000 | 79,600,000 | 39,400,000 | 79,600,000 | |||||
Fair Value Measurements 1 (Textuals) | |||||||||
Total Long-term Debt Outstanding | 5,599,700,000 | 5,599,700,000 | 5,410,500,000 | ||||||
Appalachian Power Co [Member] | Level 1 [Member] | |||||||||
Assets, Fair Value Disclosure | |||||||||
Cash and Cash Equivalents | 15,100,000 | 15,100,000 | 14,400,000 | ||||||
Spent Nuclear Fuel and Decommissioning Trusts | |||||||||
Total Assets | 15,100,000 | 15,100,000 | 14,400,000 | ||||||
Appalachian Power Co [Member] | Level 2 [Member] | |||||||||
Assets, Fair Value Disclosure | |||||||||
Cash and Cash Equivalents | 0 | 0 | 0 | ||||||
Spent Nuclear Fuel and Decommissioning Trusts | |||||||||
Total Assets | 1,600,000 | 1,600,000 | 700,000 | ||||||
Appalachian Power Co [Member] | Level 3 [Member] | |||||||||
Assets, Fair Value Disclosure | |||||||||
Cash and Cash Equivalents | 0 | 0 | 0 | ||||||
Spent Nuclear Fuel and Decommissioning Trusts | |||||||||
Total Assets | 41,100,000 | 41,100,000 | 69,400,000 | ||||||
Appalachian Power Co [Member] | Risk Management Commodity Contracts [Member] | Other [Member] | |||||||||
Risk Management Assets | [7],[13] | (3,300,000) | (3,300,000) | (1,000,000) | |||||
Risk Management Liabilities | [7],[13] | (4,000,000) | (4,000,000) | (1,400,000) | |||||
Risk Management Assets | |||||||||
Risk Management Assets | [7],[13] | (3,300,000) | (3,300,000) | (1,000,000) | |||||
Liabilities, Fair Value Disclosure | |||||||||
Risk Management Liabilities | [7],[13] | (4,000,000) | (4,000,000) | (1,400,000) | |||||
Appalachian Power Co [Member] | Risk Management Commodity Contracts [Member] | |||||||||
Risk Management Assets | [7],[13] | 39,400,000 | 39,400,000 | 69,100,000 | |||||
Risk Management Liabilities | [7],[13] | 1,100,000 | 1,100,000 | 3,500,000 | |||||
Risk Management Assets | |||||||||
Risk Management Assets | [7],[13] | 39,400,000 | 39,400,000 | 69,100,000 | |||||
Liabilities, Fair Value Disclosure | |||||||||
Risk Management Liabilities | [7],[13] | 1,100,000 | 1,100,000 | 3,500,000 | |||||
Appalachian Power Co [Member] | Risk Management Commodity Contracts [Member] | Level 1 [Member] | |||||||||
Risk Management Assets | [7],[13] | 0 | 0 | 0 | |||||
Risk Management Liabilities | [7],[13] | 0 | 0 | 0 | |||||
Risk Management Assets | |||||||||
Risk Management Assets | [7],[13] | 0 | 0 | 0 | |||||
Liabilities, Fair Value Disclosure | |||||||||
Risk Management Liabilities | [7],[13] | 0 | 0 | 0 | |||||
Appalachian Power Co [Member] | Risk Management Commodity Contracts [Member] | Level 2 [Member] | |||||||||
Risk Management Assets | [7],[13] | 1,600,000 | 1,600,000 | 700,000 | |||||
Risk Management Liabilities | [7],[13] | 3,400,000 | 3,400,000 | 4,600,000 | |||||
Risk Management Assets | |||||||||
Risk Management Assets | [7],[13] | 1,600,000 | 1,600,000 | 700,000 | |||||
Liabilities, Fair Value Disclosure | |||||||||
Risk Management Liabilities | [7],[13] | 3,400,000 | 3,400,000 | 4,600,000 | |||||
Appalachian Power Co [Member] | Risk Management Commodity Contracts [Member] | Level 3 [Member] | |||||||||
Risk Management Assets | [7],[13] | 41,100,000 | 41,100,000 | 69,400,000 | |||||
Risk Management Liabilities | [7],[13] | 1,700,000 | 1,700,000 | 300,000 | |||||
Risk Management Assets | |||||||||
Risk Management Assets | [7],[13] | 41,100,000 | 41,100,000 | 69,400,000 | |||||
Liabilities, Fair Value Disclosure | |||||||||
Risk Management Liabilities | [7],[13] | 1,700,000 | 1,700,000 | 300,000 | |||||
Appalachian Power Co [Member] | Natural Gas Contracts [Member] | Level 3 [Member] | |||||||||
Risk Management Assets | 200,000 | 200,000 | |||||||
Risk Management Liabilities | 0 | 0 | |||||||
Risk Management Assets | |||||||||
Risk Management Assets | 200,000 | 200,000 | |||||||
Liabilities, Fair Value Disclosure | |||||||||
Risk Management Liabilities | 0 | 0 | |||||||
Appalachian Power Co [Member] | Natural Gas Contracts [Member] | Weighted Average [Member] | Level 3 [Member] | |||||||||
Fair Value Significant Unobservable Input Price Per Unit | [11],[12] | 3.35 | 3.35 | ||||||
Level 3 Quantitative Information | |||||||||
Fair Value Significant Unobservable Input Price Per Unit | [11],[12] | 3.35 | 3.35 | ||||||
Appalachian Power Co [Member] | Natural Gas Contracts [Member] | Low [Member] | Level 3 [Member] | |||||||||
Fair Value Significant Unobservable Input Price Per Unit | [12] | 2.91 | 2.91 | ||||||
Level 3 Quantitative Information | |||||||||
Fair Value Significant Unobservable Input Price Per Unit | [12] | 2.91 | 2.91 | ||||||
Appalachian Power Co [Member] | Natural Gas Contracts [Member] | High [Member] | Level 3 [Member] | |||||||||
Fair Value Significant Unobservable Input Price Per Unit | [12] | 4.19 | 4.19 | ||||||
Level 3 Quantitative Information | |||||||||
Fair Value Significant Unobservable Input Price Per Unit | [12] | 4.19 | 4.19 | ||||||
Appalachian Power Co [Member] | FTRs [Member] | Level 3 [Member] | |||||||||
Risk Management Assets | 40,900,000 | 40,900,000 | 69,400,000 | ||||||
Risk Management Liabilities | 1,700,000 | 1,700,000 | 300,000 | ||||||
Risk Management Assets | |||||||||
Risk Management Assets | 40,900,000 | 40,900,000 | 69,400,000 | ||||||
Liabilities, Fair Value Disclosure | |||||||||
Risk Management Liabilities | 1,700,000 | 1,700,000 | 300,000 | ||||||
Appalachian Power Co [Member] | FTRs [Member] | Weighted Average [Member] | Level 3 [Member] | |||||||||
Fair Value Significant Unobservable Input Price Per Unit | [10],[11] | 1.37 | 1.37 | 3.89 | |||||
Level 3 Quantitative Information | |||||||||
Fair Value Significant Unobservable Input Price Per Unit | [10],[11] | 1.37 | 1.37 | 3.89 | |||||
Appalachian Power Co [Member] | FTRs [Member] | Low [Member] | Level 3 [Member] | |||||||||
Fair Value Significant Unobservable Input Price Per Unit | [10] | (3.60) | (3.60) | (2.82) | |||||
Level 3 Quantitative Information | |||||||||
Fair Value Significant Unobservable Input Price Per Unit | [10] | (3.60) | (3.60) | (2.82) | |||||
Appalachian Power Co [Member] | FTRs [Member] | High [Member] | Level 3 [Member] | |||||||||
Fair Value Significant Unobservable Input Price Per Unit | [10] | 9.53 | 9.53 | 18.88 | |||||
Level 3 Quantitative Information | |||||||||
Fair Value Significant Unobservable Input Price Per Unit | [10] | 9.53 | 9.53 | 18.88 | |||||
Indiana Michigan Power Co [Member] | Other [Member] | |||||||||
Spent Nuclear Fuel and Decommissioning Trusts | |||||||||
Spent Nuclear Fuel and Decommissioning Trusts | 10,900,000 | 10,900,000 | 9,900,000 | ||||||
Total Assets | 7,600,000 | 7,600,000 | 8,700,000 | ||||||
Indiana Michigan Power Co [Member] | |||||||||
Spent Nuclear Fuel and Decommissioning Trusts | |||||||||
Spent Nuclear Fuel and Decommissioning Trusts | 3,648,800,000 | 3,648,800,000 | 3,341,200,000 | ||||||
Total Assets | 3,679,300,000 | 3,679,300,000 | 3,356,600,000 | ||||||
Changes in the Fair Value of Net Trading Derivatives and other investments | |||||||||
Beginning Balance | 1,100,000 | 1,000,000 | 4,600,000 | (700,000) | |||||
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Inputs Reconciliation, Gain (Loss) Included in Earnings | [1],[2] | (3,200,000) | (300,000) | (2,300,000) | 3,700,000 | ||||
Unrealized Gain (Loss) Included in Net Income (or Changes in Net Assets) Relating to Assets Still Held at the Reporting Date | [1] | 0 | 0 | 0 | 0 | ||||
Realized and Unrealized Gains (Losses) Included in Other Comprehensive Income | [3] | 0 | 0 | 0 | 0 | ||||
Settlements | 2,000,000 | (700,000) | (2,200,000) | (3,000,000) | |||||
Transfers into Level 3 | [4],[5] | 0 | 0 | 0 | |||||
Transfers out of Level 3 | [5] | 0 | 0 | 0 | 0 | ||||
Changes in Fair Value Allocated to Regulated Jurisdiction | [6] | 6,900,000 | 9,800,000 | 6,700,000 | 9,800,000 | ||||
Ending Balance | 6,800,000 | 9,800,000 | 6,800,000 | 9,800,000 | |||||
Fair Value Measurements 1 (Textuals) | |||||||||
Total Long-term Debt Outstanding | 3,464,100,000 | 3,464,100,000 | 3,260,800,000 | ||||||
Indiana Michigan Power Co [Member] | Level 1 [Member] | |||||||||
Spent Nuclear Fuel and Decommissioning Trusts | |||||||||
Spent Nuclear Fuel and Decommissioning Trusts | 2,373,900,000 | 2,373,900,000 | 2,142,600,000 | ||||||
Total Assets | 2,373,900,000 | 2,373,900,000 | 2,142,600,000 | ||||||
Indiana Michigan Power Co [Member] | Level 2 [Member] | |||||||||
Spent Nuclear Fuel and Decommissioning Trusts | |||||||||
Spent Nuclear Fuel and Decommissioning Trusts | 1,264,000,000 | 1,264,000,000 | 1,188,700,000 | ||||||
Total Assets | 1,289,600,000 | 1,289,600,000 | 1,200,000,000 | ||||||
Indiana Michigan Power Co [Member] | Level 3 [Member] | |||||||||
Spent Nuclear Fuel and Decommissioning Trusts | |||||||||
Spent Nuclear Fuel and Decommissioning Trusts | 0 | 0 | 0 | ||||||
Total Assets | 8,200,000 | 8,200,000 | 5,300,000 | ||||||
Indiana Michigan Power Co [Member] | Risk Management Commodity Contracts [Member] | Other [Member] | |||||||||
Risk Management Assets | [7],[13] | (3,300,000) | (3,300,000) | (1,200,000) | |||||
Risk Management Liabilities | [7],[13] | (3,800,000) | (3,800,000) | (1,300,000) | |||||
Risk Management Assets | |||||||||
Risk Management Assets | [7],[13] | (3,300,000) | (3,300,000) | (1,200,000) | |||||
Liabilities, Fair Value Disclosure | |||||||||
Risk Management Liabilities | [7],[13] | (3,800,000) | (3,800,000) | (1,300,000) | |||||
Indiana Michigan Power Co [Member] | Risk Management Commodity Contracts [Member] | |||||||||
Risk Management Assets | [7],[13] | 30,500,000 | 30,500,000 | 15,400,000 | |||||
Risk Management Liabilities | [7],[13] | 1,400,000 | 1,400,000 | 0 | |||||
Risk Management Assets | |||||||||
Risk Management Assets | [7],[13] | 30,500,000 | 30,500,000 | 15,400,000 | |||||
Liabilities, Fair Value Disclosure | |||||||||
Risk Management Liabilities | [7],[13] | 1,400,000 | 1,400,000 | 0 | |||||
Indiana Michigan Power Co [Member] | Risk Management Commodity Contracts [Member] | Level 1 [Member] | |||||||||
Risk Management Assets | [7],[13] | 0 | 0 | 0 | |||||
Risk Management Liabilities | [7],[13] | 0 | 0 | 0 | |||||
Risk Management Assets | |||||||||
Risk Management Assets | [7],[13] | 0 | 0 | 0 | |||||
Liabilities, Fair Value Disclosure | |||||||||
Risk Management Liabilities | [7],[13] | 0 | 0 | 0 | |||||
Indiana Michigan Power Co [Member] | Risk Management Commodity Contracts [Member] | Level 2 [Member] | |||||||||
Risk Management Assets | [7],[13] | 25,600,000 | 25,600,000 | 11,300,000 | |||||
Risk Management Liabilities | [7],[13] | 3,800,000 | 3,800,000 | 600,000 | |||||
Risk Management Assets | |||||||||
Risk Management Assets | [7],[13] | 25,600,000 | 25,600,000 | 11,300,000 | |||||
Liabilities, Fair Value Disclosure | |||||||||
Risk Management Liabilities | [7],[13] | 3,800,000 | 3,800,000 | 600,000 | |||||
Indiana Michigan Power Co [Member] | Risk Management Commodity Contracts [Member] | Level 3 [Member] | |||||||||
Risk Management Assets | [7],[13] | 8,200,000 | 8,200,000 | 5,300,000 | |||||
Risk Management Liabilities | [7],[13] | 1,400,000 | 1,400,000 | 700,000 | |||||
Risk Management Assets | |||||||||
Risk Management Assets | [7],[13] | 8,200,000 | 8,200,000 | 5,300,000 | |||||
Liabilities, Fair Value Disclosure | |||||||||
Risk Management Liabilities | [7],[13] | 1,400,000 | 1,400,000 | 700,000 | |||||
Indiana Michigan Power Co [Member] | FTRs [Member] | Level 3 [Member] | |||||||||
Risk Management Assets | 8,200,000 | 8,200,000 | 5,300,000 | ||||||
Risk Management Liabilities | 1,400,000 | 1,400,000 | 700,000 | ||||||
Risk Management Assets | |||||||||
Risk Management Assets | 8,200,000 | 8,200,000 | 5,300,000 | ||||||
Liabilities, Fair Value Disclosure | |||||||||
Risk Management Liabilities | 1,400,000 | 1,400,000 | 700,000 | ||||||
Indiana Michigan Power Co [Member] | FTRs [Member] | Weighted Average [Member] | Level 3 [Member] | |||||||||
Fair Value Significant Unobservable Input Price Per Unit | [10],[11] | 1.07 | 1.07 | 1.23 | |||||
Level 3 Quantitative Information | |||||||||
Fair Value Significant Unobservable Input Price Per Unit | [10],[11] | 1.07 | 1.07 | 1.23 | |||||
Indiana Michigan Power Co [Member] | FTRs [Member] | Low [Member] | Level 3 [Member] | |||||||||
Fair Value Significant Unobservable Input Price Per Unit | [10] | (6.02) | (6.02) | 0.16 | |||||
Level 3 Quantitative Information | |||||||||
Fair Value Significant Unobservable Input Price Per Unit | [10] | (6.02) | (6.02) | 0.16 | |||||
Indiana Michigan Power Co [Member] | FTRs [Member] | High [Member] | Level 3 [Member] | |||||||||
Fair Value Significant Unobservable Input Price Per Unit | [10] | 9.11 | 9.11 | 18.79 | |||||
Level 3 Quantitative Information | |||||||||
Fair Value Significant Unobservable Input Price Per Unit | [10] | 9.11 | 9.11 | 18.79 | |||||
Ohio Power Co [Member] | |||||||||
Changes in the Fair Value of Net Trading Derivatives and other investments | |||||||||
Beginning Balance | (46,900,000) | (68,500,000) | (40,000,000) | (92,500,000) | |||||
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Inputs Reconciliation, Gain (Loss) Included in Earnings | [1],[2] | (1,400,000) | 900,000 | (1,700,000) | 2,400,000 | ||||
Unrealized Gain (Loss) Included in Net Income (or Changes in Net Assets) Relating to Assets Still Held at the Reporting Date | [1] | 0 | 0 | 0 | 0 | ||||
Realized and Unrealized Gains (Losses) Included in Other Comprehensive Income | [3] | 0 | 0 | 0 | 0 | ||||
Settlements | 1,300,000 | 0 | 2,400,000 | 1,400,000 | |||||
Transfers into Level 3 | [4],[5] | 0 | 0 | 0 | |||||
Transfers out of Level 3 | [5] | 0 | 0 | 0 | 0 | ||||
Changes in Fair Value Allocated to Regulated Jurisdiction | [6] | (7,000,000) | 19,200,000 | (14,700,000) | 40,300,000 | ||||
Ending Balance | (54,000,000) | (48,400,000) | (54,000,000) | (48,400,000) | |||||
Fair Value Measurements 1 (Textuals) | |||||||||
Total Long-term Debt Outstanding | 3,365,600,000 | 3,365,600,000 | 2,970,300,000 | ||||||
Ohio Power Co [Member] | Risk Management Commodity Contracts [Member] | Other [Member] | |||||||||
Risk Management Liabilities | [7],[13] | (400,000) | (400,000) | (300,000) | |||||
Liabilities, Fair Value Disclosure | |||||||||
Risk Management Liabilities | [7],[13] | (400,000) | (400,000) | (300,000) | |||||
Ohio Power Co [Member] | Risk Management Commodity Contracts [Member] | |||||||||
Risk Management Liabilities | [13] | 54,000,000 | 54,000,000 | 39,700,000 | |||||
Liabilities, Fair Value Disclosure | |||||||||
Risk Management Liabilities | [13] | 54,000,000 | 54,000,000 | 39,700,000 | |||||
Ohio Power Co [Member] | Risk Management Commodity Contracts [Member] | Level 1 [Member] | |||||||||
Risk Management Liabilities | [13] | 0 | 0 | 0 | |||||
Liabilities, Fair Value Disclosure | |||||||||
Risk Management Liabilities | [13] | 0 | 0 | 0 | |||||
Ohio Power Co [Member] | Risk Management Commodity Contracts [Member] | Level 2 [Member] | |||||||||
Risk Management Liabilities | [13] | 400,000 | 400,000 | 0 | |||||
Liabilities, Fair Value Disclosure | |||||||||
Risk Management Liabilities | [13] | 400,000 | 400,000 | 0 | |||||
Ohio Power Co [Member] | Risk Management Commodity Contracts [Member] | Level 3 [Member] | |||||||||
Risk Management Liabilities | [13] | 54,000,000 | 54,000,000 | 40,000,000 | |||||
Liabilities, Fair Value Disclosure | |||||||||
Risk Management Liabilities | [13] | 54,000,000 | 54,000,000 | 40,000,000 | |||||
Ohio Power Co [Member] | Energy Contracts [Member] | Level 3 [Member] | |||||||||
Risk Management Assets | 0 | 0 | 0 | ||||||
Risk Management Liabilities | 54,000,000 | 54,000,000 | 40,000,000 | ||||||
Risk Management Assets | |||||||||
Risk Management Assets | 0 | 0 | 0 | ||||||
Liabilities, Fair Value Disclosure | |||||||||
Risk Management Liabilities | 54,000,000 | 54,000,000 | 40,000,000 | ||||||
Ohio Power Co [Member] | Energy Contracts [Member] | Weighted Average [Member] | Level 3 [Member] | |||||||||
Fair Value Significant Unobservable Input Price Per Unit | [10],[11] | 41.40 | 41.40 | 48.76 | |||||
Level 3 Quantitative Information | |||||||||
Fair Value Significant Unobservable Input Price Per Unit | [10],[11] | 41.40 | 41.40 | 48.76 | |||||
Ohio Power Co [Member] | Energy Contracts [Member] | Low [Member] | Level 3 [Member] | |||||||||
Fair Value Significant Unobservable Input Price Per Unit | [10] | 16.97 | 16.97 | 2.91 | |||||
Level 3 Quantitative Information | |||||||||
Fair Value Significant Unobservable Input Price Per Unit | [10] | 16.97 | 16.97 | 2.91 | |||||
Ohio Power Co [Member] | Energy Contracts [Member] | High [Member] | Level 3 [Member] | |||||||||
Fair Value Significant Unobservable Input Price Per Unit | [10] | 71.80 | 71.80 | 187.34 | |||||
Level 3 Quantitative Information | |||||||||
Fair Value Significant Unobservable Input Price Per Unit | [10] | 71.80 | 71.80 | 187.34 | |||||
Public Service Co Of Oklahoma [Member] | Other [Member] | |||||||||
Spent Nuclear Fuel and Decommissioning Trusts | |||||||||
Total Assets | (300,000) | ||||||||
Public Service Co Of Oklahoma [Member] | |||||||||
Spent Nuclear Fuel and Decommissioning Trusts | |||||||||
Total Assets | 25,300,000 | ||||||||
Changes in the Fair Value of Net Trading Derivatives and other investments | |||||||||
Beginning Balance | 9,300,000 | 6,500,000 | 23,700,000 | 12,100,000 | |||||
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Inputs Reconciliation, Gain (Loss) Included in Earnings | [1],[2] | (42,100,000) | 11,900,000 | (25,500,000) | 24,200,000 | ||||
Unrealized Gain (Loss) Included in Net Income (or Changes in Net Assets) Relating to Assets Still Held at the Reporting Date | [1] | 0 | 0 | 0 | 0 | ||||
Realized and Unrealized Gains (Losses) Included in Other Comprehensive Income | [3] | 0 | 0 | 0 | 0 | ||||
Settlements | 32,800,000 | (18,400,000) | 1,800,000 | (36,300,000) | |||||
Transfers into Level 3 | [4],[5] | 0 | 0 | 0 | |||||
Transfers out of Level 3 | [5] | 0 | 0 | 0 | 0 | ||||
Changes in Fair Value Allocated to Regulated Jurisdiction | [6] | 43,100,000 | 64,500,000 | 43,100,000 | 64,500,000 | ||||
Ending Balance | 43,100,000 | 64,500,000 | 43,100,000 | 64,500,000 | |||||
Fair Value Measurements 1 (Textuals) | |||||||||
Total Long-term Debt Outstanding | 2,383,900,000 | 2,383,900,000 | 1,912,800,000 | ||||||
Public Service Co Of Oklahoma [Member] | Level 1 [Member] | |||||||||
Spent Nuclear Fuel and Decommissioning Trusts | |||||||||
Total Assets | 0 | ||||||||
Public Service Co Of Oklahoma [Member] | Level 2 [Member] | |||||||||
Spent Nuclear Fuel and Decommissioning Trusts | |||||||||
Total Assets | 1,600,000 | ||||||||
Public Service Co Of Oklahoma [Member] | Level 3 [Member] | |||||||||
Spent Nuclear Fuel and Decommissioning Trusts | |||||||||
Total Assets | 24,000,000 | ||||||||
Public Service Co Of Oklahoma [Member] | Risk Management Commodity Contracts [Member] | Other [Member] | |||||||||
Risk Management Assets | [7],[13] | (2,800,000) | (2,800,000) | 1,300,000 | |||||
Risk Management Liabilities | [7],[13] | (3,000,000) | (3,000,000) | (400,000) | |||||
Risk Management Assets | |||||||||
Risk Management Assets | [7],[13] | (2,800,000) | (2,800,000) | 1,300,000 | |||||
Liabilities, Fair Value Disclosure | |||||||||
Risk Management Liabilities | [7],[13] | (3,000,000) | (3,000,000) | (400,000) | |||||
Public Service Co Of Oklahoma [Member] | Risk Management Commodity Contracts [Member] | |||||||||
Risk Management Assets | [7],[13] | 44,800,000 | 44,800,000 | 25,300,000 | |||||
Risk Management Liabilities | [7],[13] | 3,400,000 | 3,400,000 | 1,600,000 | |||||
Risk Management Assets | |||||||||
Risk Management Assets | [7],[13] | 44,800,000 | 44,800,000 | 25,300,000 | |||||
Liabilities, Fair Value Disclosure | |||||||||
Risk Management Liabilities | [7],[13] | 3,400,000 | 3,400,000 | 1,600,000 | |||||
Public Service Co Of Oklahoma [Member] | Risk Management Commodity Contracts [Member] | Level 1 [Member] | |||||||||
Risk Management Assets | [7],[13] | 0 | 0 | 0 | |||||
Risk Management Liabilities | [7],[13] | 0 | 0 | 0 | |||||
Risk Management Assets | |||||||||
Risk Management Assets | [7],[13] | 0 | 0 | 0 | |||||
Liabilities, Fair Value Disclosure | |||||||||
Risk Management Liabilities | [7],[13] | 0 | 0 | 0 | |||||
Public Service Co Of Oklahoma [Member] | Risk Management Commodity Contracts [Member] | Level 2 [Member] | |||||||||
Risk Management Assets | [7],[13] | 2,900,000 | 2,900,000 | 0 | |||||
Risk Management Liabilities | [7],[13] | 4,800,000 | 4,800,000 | 1,700,000 | |||||
Risk Management Assets | |||||||||
Risk Management Assets | [7],[13] | 2,900,000 | 2,900,000 | 0 | |||||
Liabilities, Fair Value Disclosure | |||||||||
Risk Management Liabilities | [7],[13] | 4,800,000 | 4,800,000 | 1,700,000 | |||||
Public Service Co Of Oklahoma [Member] | Risk Management Commodity Contracts [Member] | Level 3 [Member] | |||||||||
Risk Management Assets | [7],[13] | 44,700,000 | 44,700,000 | 24,000,000 | |||||
Risk Management Liabilities | [7],[13] | 1,600,000 | 1,600,000 | 300,000 | |||||
Risk Management Assets | |||||||||
Risk Management Assets | [7],[13] | 44,700,000 | 44,700,000 | 24,000,000 | |||||
Liabilities, Fair Value Disclosure | |||||||||
Risk Management Liabilities | [7],[13] | 1,600,000 | 1,600,000 | 300,000 | |||||
Public Service Co Of Oklahoma [Member] | FTRs [Member] | Level 3 [Member] | |||||||||
Risk Management Assets | 44,700,000 | 44,700,000 | 24,000,000 | ||||||
Risk Management Liabilities | 1,600,000 | 1,600,000 | 300,000 | ||||||
Risk Management Assets | |||||||||
Risk Management Assets | 44,700,000 | 44,700,000 | 24,000,000 | ||||||
Liabilities, Fair Value Disclosure | |||||||||
Risk Management Liabilities | 1,600,000 | 1,600,000 | 300,000 | ||||||
Public Service Co Of Oklahoma [Member] | FTRs [Member] | Weighted Average [Member] | Level 3 [Member] | |||||||||
Fair Value Significant Unobservable Input Price Per Unit | [11] | (4.44) | (4.44) | (7.55) | [10] | ||||
Level 3 Quantitative Information | |||||||||
Fair Value Significant Unobservable Input Price Per Unit | [11] | (4.44) | (4.44) | (7.55) | [10] | ||||
Public Service Co Of Oklahoma [Member] | FTRs [Member] | Low [Member] | Level 3 [Member] | |||||||||
Fair Value Significant Unobservable Input Price Per Unit | (17.92) | (17.92) | (36.45) | [10] | |||||
Level 3 Quantitative Information | |||||||||
Fair Value Significant Unobservable Input Price Per Unit | (17.92) | (17.92) | (36.45) | [10] | |||||
Public Service Co Of Oklahoma [Member] | FTRs [Member] | High [Member] | Level 3 [Member] | |||||||||
Fair Value Significant Unobservable Input Price Per Unit | 0.87 | 0.87 | 3.40 | [10] | |||||
Level 3 Quantitative Information | |||||||||
Fair Value Significant Unobservable Input Price Per Unit | 0.87 | 0.87 | 3.40 | [10] | |||||
Public Service Co Of Oklahoma [Member] | Interest Rate [Member] | Other [Member] | |||||||||
Risk Management Assets | (1,600,000) | ||||||||
Risk Management Assets | |||||||||
Risk Management Assets | (1,600,000) | ||||||||
Public Service Co Of Oklahoma [Member] | Interest Rate [Member] | |||||||||
Risk Management Assets | 0 | ||||||||
Risk Management Assets | |||||||||
Risk Management Assets | 0 | ||||||||
Public Service Co Of Oklahoma [Member] | Interest Rate [Member] | Level 1 [Member] | |||||||||
Risk Management Assets | 0 | ||||||||
Risk Management Assets | |||||||||
Risk Management Assets | 0 | ||||||||
Public Service Co Of Oklahoma [Member] | Interest Rate [Member] | Level 2 [Member] | |||||||||
Risk Management Assets | 1,600,000 | ||||||||
Risk Management Assets | |||||||||
Risk Management Assets | 1,600,000 | ||||||||
Public Service Co Of Oklahoma [Member] | Interest Rate [Member] | Level 3 [Member] | |||||||||
Risk Management Assets | 0 | ||||||||
Risk Management Assets | |||||||||
Risk Management Assets | 0 | ||||||||
Southwestern Electric Power Co [Member] | |||||||||
Changes in the Fair Value of Net Trading Derivatives and other investments | |||||||||
Beginning Balance | 5,800,000 | 15,700,000 | 14,200,000 | 10,900,000 | |||||
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Inputs Reconciliation, Gain (Loss) Included in Earnings | [1],[2] | (32,800,000) | 19,900,000 | (20,300,000) | 32,500,000 | ||||
Unrealized Gain (Loss) Included in Net Income (or Changes in Net Assets) Relating to Assets Still Held at the Reporting Date | [1] | 0 | 0 | 0 | 0 | ||||
Realized and Unrealized Gains (Losses) Included in Other Comprehensive Income | [3] | 0 | 0 | 0 | 0 | ||||
Settlements | 27,000,000 | (27,900,000) | 6,100,000 | (41,000,000) | |||||
Transfers into Level 3 | [4],[5] | 0 | 0 | 0 | |||||
Transfers out of Level 3 | [5] | 0 | 0 | 0 | 0 | ||||
Changes in Fair Value Allocated to Regulated Jurisdiction | [6] | 26,000,000 | 37,700,000 | 26,000,000 | 43,000,000 | ||||
Ending Balance | 26,000,000 | $ 45,400,000 | 26,000,000 | $ 45,400,000 | |||||
Fair Value Measurements 1 (Textuals) | |||||||||
Total Long-term Debt Outstanding | 3,645,600,000 | 3,645,600,000 | 3,391,600,000 | ||||||
Southwestern Electric Power Co [Member] | Risk Management Commodity Contracts [Member] | Other [Member] | |||||||||
Risk Management Assets | [7],[13] | (500,000) | (500,000) | (400,000) | |||||
Risk Management Liabilities | [7],[13] | (800,000) | (800,000) | (600,000) | |||||
Risk Management Assets | |||||||||
Risk Management Assets | [7],[13] | (500,000) | (500,000) | (400,000) | |||||
Liabilities, Fair Value Disclosure | |||||||||
Risk Management Liabilities | [7],[13] | (800,000) | (800,000) | (600,000) | |||||
Southwestern Electric Power Co [Member] | Risk Management Commodity Contracts [Member] | |||||||||
Risk Management Assets | [7],[13] | 28,000,000 | 28,000,000 | 16,400,000 | |||||
Risk Management Liabilities | [7],[13] | 1,800,000 | 1,800,000 | 1,400,000 | |||||
Risk Management Assets | |||||||||
Risk Management Assets | [7],[13] | 28,000,000 | 28,000,000 | 16,400,000 | |||||
Liabilities, Fair Value Disclosure | |||||||||
Risk Management Liabilities | [7],[13] | 1,800,000 | 1,800,000 | 1,400,000 | |||||
Southwestern Electric Power Co [Member] | Risk Management Commodity Contracts [Member] | Level 1 [Member] | |||||||||
Risk Management Assets | [7],[13] | 0 | 0 | 0 | |||||
Risk Management Liabilities | [7],[13] | 0 | 0 | 0 | |||||
Risk Management Assets | |||||||||
Risk Management Assets | [7],[13] | 0 | 0 | 0 | |||||
Liabilities, Fair Value Disclosure | |||||||||
Risk Management Liabilities | [7],[13] | 0 | 0 | 0 | |||||
Southwestern Electric Power Co [Member] | Risk Management Commodity Contracts [Member] | Level 2 [Member] | |||||||||
Risk Management Assets | [7],[13] | 400,000 | 400,000 | 2,200,000 | |||||
Risk Management Liabilities | [7],[13] | 500,000 | 500,000 | 1,600,000 | |||||
Risk Management Assets | |||||||||
Risk Management Assets | [7],[13] | 400,000 | 400,000 | 2,200,000 | |||||
Liabilities, Fair Value Disclosure | |||||||||
Risk Management Liabilities | [7],[13] | 500,000 | 500,000 | 1,600,000 | |||||
Southwestern Electric Power Co [Member] | Risk Management Commodity Contracts [Member] | Level 3 [Member] | |||||||||
Risk Management Assets | [7],[13] | 28,100,000 | 28,100,000 | 14,600,000 | |||||
Risk Management Liabilities | [7],[13] | 2,100,000 | 2,100,000 | 400,000 | |||||
Risk Management Assets | |||||||||
Risk Management Assets | [7],[13] | 28,100,000 | 28,100,000 | 14,600,000 | |||||
Liabilities, Fair Value Disclosure | |||||||||
Risk Management Liabilities | [7],[13] | 2,100,000 | 2,100,000 | 400,000 | |||||
Southwestern Electric Power Co [Member] | Natural Gas Contracts [Member] | Level 3 [Member] | |||||||||
Risk Management Assets | 0 | 0 | |||||||
Risk Management Liabilities | 200,000 | 200,000 | |||||||
Risk Management Assets | |||||||||
Risk Management Assets | 0 | 0 | |||||||
Liabilities, Fair Value Disclosure | |||||||||
Risk Management Liabilities | 200,000 | 200,000 | |||||||
Southwestern Electric Power Co [Member] | Natural Gas Contracts [Member] | Weighted Average [Member] | Level 3 [Member] | |||||||||
Fair Value Significant Unobservable Input Price Per Unit | [11],[12] | 3.35 | 3.35 | ||||||
Level 3 Quantitative Information | |||||||||
Fair Value Significant Unobservable Input Price Per Unit | [11],[12] | 3.35 | 3.35 | ||||||
Southwestern Electric Power Co [Member] | Natural Gas Contracts [Member] | Low [Member] | Level 3 [Member] | |||||||||
Fair Value Significant Unobservable Input Price Per Unit | [12] | 2.91 | 2.91 | ||||||
Level 3 Quantitative Information | |||||||||
Fair Value Significant Unobservable Input Price Per Unit | [12] | 2.91 | 2.91 | ||||||
Southwestern Electric Power Co [Member] | Natural Gas Contracts [Member] | High [Member] | Level 3 [Member] | |||||||||
Fair Value Significant Unobservable Input Price Per Unit | [12] | 4.19 | 4.19 | ||||||
Level 3 Quantitative Information | |||||||||
Fair Value Significant Unobservable Input Price Per Unit | [12] | 4.19 | 4.19 | ||||||
Southwestern Electric Power Co [Member] | FTRs [Member] | Level 3 [Member] | |||||||||
Risk Management Assets | 28,100,000 | 28,100,000 | 14,600,000 | ||||||
Risk Management Liabilities | 1,900,000 | 1,900,000 | 400,000 | ||||||
Risk Management Assets | |||||||||
Risk Management Assets | 28,100,000 | 28,100,000 | 14,600,000 | ||||||
Liabilities, Fair Value Disclosure | |||||||||
Risk Management Liabilities | 1,900,000 | 1,900,000 | 400,000 | ||||||
Southwestern Electric Power Co [Member] | FTRs [Member] | Weighted Average [Member] | Level 3 [Member] | |||||||||
Fair Value Significant Unobservable Input Price Per Unit | [10],[11] | (4.44) | (4.44) | (7.55) | |||||
Level 3 Quantitative Information | |||||||||
Fair Value Significant Unobservable Input Price Per Unit | [10],[11] | (4.44) | (4.44) | (7.55) | |||||
Southwestern Electric Power Co [Member] | FTRs [Member] | Low [Member] | Level 3 [Member] | |||||||||
Fair Value Significant Unobservable Input Price Per Unit | [10] | (17.92) | (17.92) | (36.45) | |||||
Level 3 Quantitative Information | |||||||||
Fair Value Significant Unobservable Input Price Per Unit | [10] | (17.92) | (17.92) | (36.45) | |||||
Southwestern Electric Power Co [Member] | FTRs [Member] | High [Member] | Level 3 [Member] | |||||||||
Fair Value Significant Unobservable Input Price Per Unit | [10] | 0.87 | 0.87 | 3.40 | |||||
Level 3 Quantitative Information | |||||||||
Fair Value Significant Unobservable Input Price Per Unit | [10] | 0.87 | 0.87 | 3.40 | |||||
Cash [Member] | Other [Member] | |||||||||
Assets, Fair Value Disclosure | |||||||||
Cash and Cash Equivalents | 0 | 0 | 0 | ||||||
Cash [Member] | |||||||||
Assets, Fair Value Disclosure | |||||||||
Cash and Cash Equivalents | 45,800,000 | 45,800,000 | 47,100,000 | ||||||
Other Short-term Investments | [14] | 45,800,000 | 45,800,000 | 47,100,000 | |||||
Cash [Member] | Level 1 [Member] | |||||||||
Assets, Fair Value Disclosure | |||||||||
Cash and Cash Equivalents | 45,800,000 | 45,800,000 | 47,100,000 | ||||||
Cash [Member] | Level 2 [Member] | |||||||||
Assets, Fair Value Disclosure | |||||||||
Cash and Cash Equivalents | 0 | 0 | 0 | ||||||
Cash [Member] | Level 3 [Member] | |||||||||
Assets, Fair Value Disclosure | |||||||||
Cash and Cash Equivalents | 0 | 0 | 0 | ||||||
Other Cash Deposits [Member] | Other [Member] | |||||||||
Assets, Fair Value Disclosure | |||||||||
Other Short-term Investments | [15] | 15,900,000 | 15,900,000 | 9,000,000 | |||||
Other Cash Deposits [Member] | |||||||||
Assets, Fair Value Disclosure | |||||||||
Other Short-term Investments | 15,900,000 | 15,900,000 | 9,000,000 | ||||||
Other Cash Deposits [Member] | Level 1 [Member] | |||||||||
Assets, Fair Value Disclosure | |||||||||
Other Short-term Investments | 0 | 0 | 0 | ||||||
Other Cash Deposits [Member] | Level 2 [Member] | |||||||||
Assets, Fair Value Disclosure | |||||||||
Other Short-term Investments | 0 | 0 | 0 | ||||||
Other Cash Deposits [Member] | Level 3 [Member] | |||||||||
Assets, Fair Value Disclosure | |||||||||
Other Short-term Investments | 0 | 0 | 0 | ||||||
Mutual Funds Fixed Income [Member] | Other [Member] | |||||||||
Assets, Fair Value Disclosure | |||||||||
Other Short-term Investments | 0 | 0 | 0 | ||||||
Mutual Funds Fixed Income [Member] | |||||||||
Assets, Fair Value Disclosure | |||||||||
Other Short-term Investments | [16] | 146,800,000 | 146,800,000 | 144,100,000 | |||||
Mutual Funds Fixed Income [Member] | Level 1 [Member] | |||||||||
Assets, Fair Value Disclosure | |||||||||
Other Short-term Investments | 146,800,000 | 146,800,000 | 144,100,000 | ||||||
Mutual Funds Fixed Income [Member] | Level 2 [Member] | |||||||||
Assets, Fair Value Disclosure | |||||||||
Other Short-term Investments | 0 | 0 | 0 | ||||||
Mutual Funds Fixed Income [Member] | Level 3 [Member] | |||||||||
Assets, Fair Value Disclosure | |||||||||
Other Short-term Investments | 0 | 0 | 0 | ||||||
Mutual Funds Equity [Member] | Other [Member] | |||||||||
Assets, Fair Value Disclosure | |||||||||
Other Short-term Investments | [17] | 0 | 0 | 0 | |||||
Mutual Funds Equity [Member] | |||||||||
Assets, Fair Value Disclosure | |||||||||
Other Short-term Investments | [17] | 39,800,000 | 39,800,000 | 34,500,000 | |||||
Mutual Funds Equity [Member] | Level 1 [Member] | |||||||||
Assets, Fair Value Disclosure | |||||||||
Other Short-term Investments | [17] | 39,800,000 | 39,800,000 | 34,500,000 | |||||
Mutual Funds Equity [Member] | Level 2 [Member] | |||||||||
Assets, Fair Value Disclosure | |||||||||
Other Short-term Investments | [17] | 0 | 0 | 0 | |||||
Mutual Funds Equity [Member] | Level 3 [Member] | |||||||||
Assets, Fair Value Disclosure | |||||||||
Other Short-term Investments | [17] | 0 | 0 | 0 | |||||
Cash and Cash Equivalents [Member] | Other [Member] | |||||||||
Spent Nuclear Fuel and Decommissioning Trusts | |||||||||
Spent Nuclear Fuel and Decommissioning Trusts | [18] | 10,900,000 | 10,900,000 | 9,900,000 | |||||
Cash and Cash Equivalents [Member] | |||||||||
Spent Nuclear Fuel and Decommissioning Trusts | |||||||||
Spent Nuclear Fuel and Decommissioning Trusts | [18] | 24,200,000 | 24,200,000 | 21,200,000 | |||||
Cash and Cash Equivalents [Member] | Level 1 [Member] | |||||||||
Spent Nuclear Fuel and Decommissioning Trusts | |||||||||
Spent Nuclear Fuel and Decommissioning Trusts | [18] | 13,300,000 | 13,300,000 | 11,300,000 | |||||
Cash and Cash Equivalents [Member] | Level 2 [Member] | |||||||||
Spent Nuclear Fuel and Decommissioning Trusts | |||||||||
Spent Nuclear Fuel and Decommissioning Trusts | [18] | 0 | 0 | 0 | |||||
Cash and Cash Equivalents [Member] | Level 3 [Member] | |||||||||
Spent Nuclear Fuel and Decommissioning Trusts | |||||||||
Spent Nuclear Fuel and Decommissioning Trusts | [18] | 0 | 0 | 0 | |||||
Cash and Cash Equivalents [Member] | Indiana Michigan Power Co [Member] | Other [Member] | |||||||||
Spent Nuclear Fuel and Decommissioning Trusts | |||||||||
Spent Nuclear Fuel and Decommissioning Trusts | [18] | 10,900,000 | 10,900,000 | 9,900,000 | |||||
Cash and Cash Equivalents [Member] | Indiana Michigan Power Co [Member] | |||||||||
Spent Nuclear Fuel and Decommissioning Trusts | |||||||||
Spent Nuclear Fuel and Decommissioning Trusts | [18] | 24,200,000 | 24,200,000 | 21,200,000 | |||||
Cash and Cash Equivalents [Member] | Indiana Michigan Power Co [Member] | Level 1 [Member] | |||||||||
Spent Nuclear Fuel and Decommissioning Trusts | |||||||||
Spent Nuclear Fuel and Decommissioning Trusts | [18] | 13,300,000 | 13,300,000 | 11,300,000 | |||||
Cash and Cash Equivalents [Member] | Indiana Michigan Power Co [Member] | Level 2 [Member] | |||||||||
Spent Nuclear Fuel and Decommissioning Trusts | |||||||||
Spent Nuclear Fuel and Decommissioning Trusts | [18] | 0 | 0 | 0 | |||||
Cash and Cash Equivalents [Member] | Indiana Michigan Power Co [Member] | Level 3 [Member] | |||||||||
Spent Nuclear Fuel and Decommissioning Trusts | |||||||||
Spent Nuclear Fuel and Decommissioning Trusts | [18] | 0 | 0 | 0 | |||||
US Government Agencies Debt Securities [Member] | Other [Member] | |||||||||
Spent Nuclear Fuel and Decommissioning Trusts | |||||||||
Spent Nuclear Fuel and Decommissioning Trusts | 0 | 0 | 0 | ||||||
US Government Agencies Debt Securities [Member] | |||||||||
Spent Nuclear Fuel and Decommissioning Trusts | |||||||||
Spent Nuclear Fuel and Decommissioning Trusts | 1,191,900,000 | 1,191,900,000 | 1,123,800,000 | ||||||
US Government Agencies Debt Securities [Member] | Level 1 [Member] | |||||||||
Spent Nuclear Fuel and Decommissioning Trusts | |||||||||
Spent Nuclear Fuel and Decommissioning Trusts | 0 | 0 | 0 | ||||||
US Government Agencies Debt Securities [Member] | Level 2 [Member] | |||||||||
Spent Nuclear Fuel and Decommissioning Trusts | |||||||||
Spent Nuclear Fuel and Decommissioning Trusts | 1,191,900,000 | 1,191,900,000 | 1,123,800,000 | ||||||
US Government Agencies Debt Securities [Member] | Level 3 [Member] | |||||||||
Spent Nuclear Fuel and Decommissioning Trusts | |||||||||
Spent Nuclear Fuel and Decommissioning Trusts | 0 | 0 | 0 | ||||||
US Government Agencies Debt Securities [Member] | Indiana Michigan Power Co [Member] | Other [Member] | |||||||||
Spent Nuclear Fuel and Decommissioning Trusts | |||||||||
Spent Nuclear Fuel and Decommissioning Trusts | 0 | 0 | 0 | ||||||
US Government Agencies Debt Securities [Member] | Indiana Michigan Power Co [Member] | |||||||||
Spent Nuclear Fuel and Decommissioning Trusts | |||||||||
Spent Nuclear Fuel and Decommissioning Trusts | 1,191,900,000 | 1,191,900,000 | 1,123,800,000 | ||||||
US Government Agencies Debt Securities [Member] | Indiana Michigan Power Co [Member] | Level 1 [Member] | |||||||||
Spent Nuclear Fuel and Decommissioning Trusts | |||||||||
Spent Nuclear Fuel and Decommissioning Trusts | 0 | 0 | 0 | ||||||
US Government Agencies Debt Securities [Member] | Indiana Michigan Power Co [Member] | Level 2 [Member] | |||||||||
Spent Nuclear Fuel and Decommissioning Trusts | |||||||||
Spent Nuclear Fuel and Decommissioning Trusts | 1,191,900,000 | 1,191,900,000 | 1,123,800,000 | ||||||
US Government Agencies Debt Securities [Member] | Indiana Michigan Power Co [Member] | Level 3 [Member] | |||||||||
Spent Nuclear Fuel and Decommissioning Trusts | |||||||||
Spent Nuclear Fuel and Decommissioning Trusts | 0 | 0 | 0 | ||||||
Corporate Debt [Member] | Other [Member] | |||||||||
Spent Nuclear Fuel and Decommissioning Trusts | |||||||||
Spent Nuclear Fuel and Decommissioning Trusts | 0 | 0 | 0 | ||||||
Corporate Debt [Member] | |||||||||
Spent Nuclear Fuel and Decommissioning Trusts | |||||||||
Spent Nuclear Fuel and Decommissioning Trusts | 68,800,000 | 68,800,000 | 61,600,000 | ||||||
Corporate Debt [Member] | Level 1 [Member] | |||||||||
Spent Nuclear Fuel and Decommissioning Trusts | |||||||||
Spent Nuclear Fuel and Decommissioning Trusts | 0 | 0 | 0 | ||||||
Corporate Debt [Member] | Level 2 [Member] | |||||||||
Spent Nuclear Fuel and Decommissioning Trusts | |||||||||
Spent Nuclear Fuel and Decommissioning Trusts | 68,800,000 | 68,800,000 | 61,600,000 | ||||||
Corporate Debt [Member] | Level 3 [Member] | |||||||||
Spent Nuclear Fuel and Decommissioning Trusts | |||||||||
Spent Nuclear Fuel and Decommissioning Trusts | 0 | 0 | 0 | ||||||
Corporate Debt [Member] | Indiana Michigan Power Co [Member] | Other [Member] | |||||||||
Spent Nuclear Fuel and Decommissioning Trusts | |||||||||
Spent Nuclear Fuel and Decommissioning Trusts | 0 | 0 | 0 | ||||||
Corporate Debt [Member] | Indiana Michigan Power Co [Member] | |||||||||
Spent Nuclear Fuel and Decommissioning Trusts | |||||||||
Spent Nuclear Fuel and Decommissioning Trusts | 68,800,000 | 68,800,000 | 61,600,000 | ||||||
Corporate Debt [Member] | Indiana Michigan Power Co [Member] | Level 1 [Member] | |||||||||
Spent Nuclear Fuel and Decommissioning Trusts | |||||||||
Spent Nuclear Fuel and Decommissioning Trusts | 0 | 0 | 0 | ||||||
Corporate Debt [Member] | Indiana Michigan Power Co [Member] | Level 2 [Member] | |||||||||
Spent Nuclear Fuel and Decommissioning Trusts | |||||||||
Spent Nuclear Fuel and Decommissioning Trusts | 68,800,000 | 68,800,000 | 61,600,000 | ||||||
Corporate Debt [Member] | Indiana Michigan Power Co [Member] | Level 3 [Member] | |||||||||
Spent Nuclear Fuel and Decommissioning Trusts | |||||||||
Spent Nuclear Fuel and Decommissioning Trusts | 0 | 0 | 0 | ||||||
State and Local Jurisdiction [Member] | Other [Member] | |||||||||
Spent Nuclear Fuel and Decommissioning Trusts | |||||||||
Spent Nuclear Fuel and Decommissioning Trusts | 0 | 0 | 0 | ||||||
State and Local Jurisdiction [Member] | |||||||||
Spent Nuclear Fuel and Decommissioning Trusts | |||||||||
Spent Nuclear Fuel and Decommissioning Trusts | 3,300,000 | 3,300,000 | 3,300,000 | ||||||
State and Local Jurisdiction [Member] | Level 1 [Member] | |||||||||
Spent Nuclear Fuel and Decommissioning Trusts | |||||||||
Spent Nuclear Fuel and Decommissioning Trusts | 0 | 0 | 0 | ||||||
State and Local Jurisdiction [Member] | Level 2 [Member] | |||||||||
Spent Nuclear Fuel and Decommissioning Trusts | |||||||||
Spent Nuclear Fuel and Decommissioning Trusts | 3,300,000 | 3,300,000 | 3,300,000 | ||||||
State and Local Jurisdiction [Member] | Level 3 [Member] | |||||||||
Spent Nuclear Fuel and Decommissioning Trusts | |||||||||
Spent Nuclear Fuel and Decommissioning Trusts | 0 | 0 | 0 | ||||||
State and Local Jurisdiction [Member] | Indiana Michigan Power Co [Member] | Other [Member] | |||||||||
Spent Nuclear Fuel and Decommissioning Trusts | |||||||||
Spent Nuclear Fuel and Decommissioning Trusts | 0 | 0 | 0 | ||||||
State and Local Jurisdiction [Member] | Indiana Michigan Power Co [Member] | |||||||||
Spent Nuclear Fuel and Decommissioning Trusts | |||||||||
Spent Nuclear Fuel and Decommissioning Trusts | 3,300,000 | 3,300,000 | 3,300,000 | ||||||
State and Local Jurisdiction [Member] | Indiana Michigan Power Co [Member] | Level 1 [Member] | |||||||||
Spent Nuclear Fuel and Decommissioning Trusts | |||||||||
Spent Nuclear Fuel and Decommissioning Trusts | 0 | 0 | 0 | ||||||
State and Local Jurisdiction [Member] | Indiana Michigan Power Co [Member] | Level 2 [Member] | |||||||||
Spent Nuclear Fuel and Decommissioning Trusts | |||||||||
Spent Nuclear Fuel and Decommissioning Trusts | 3,300,000 | 3,300,000 | 3,300,000 | ||||||
State and Local Jurisdiction [Member] | Indiana Michigan Power Co [Member] | Level 3 [Member] | |||||||||
Spent Nuclear Fuel and Decommissioning Trusts | |||||||||
Spent Nuclear Fuel and Decommissioning Trusts | 0 | 0 | 0 | ||||||
Fixed Income Funds [Member] | Other [Member] | |||||||||
Spent Nuclear Fuel and Decommissioning Trusts | |||||||||
Spent Nuclear Fuel and Decommissioning Trusts | 0 | 0 | 0 | ||||||
Fixed Income Funds [Member] | |||||||||
Spent Nuclear Fuel and Decommissioning Trusts | |||||||||
Spent Nuclear Fuel and Decommissioning Trusts | 1,264,000,000 | 1,264,000,000 | 1,188,700,000 | ||||||
Fixed Income Funds [Member] | Level 1 [Member] | |||||||||
Spent Nuclear Fuel and Decommissioning Trusts | |||||||||
Spent Nuclear Fuel and Decommissioning Trusts | 0 | 0 | 0 | ||||||
Fixed Income Funds [Member] | Level 2 [Member] | |||||||||
Spent Nuclear Fuel and Decommissioning Trusts | |||||||||
Spent Nuclear Fuel and Decommissioning Trusts | 1,264,000,000 | 1,264,000,000 | 1,188,700,000 | ||||||
Fixed Income Funds [Member] | Level 3 [Member] | |||||||||
Spent Nuclear Fuel and Decommissioning Trusts | |||||||||
Spent Nuclear Fuel and Decommissioning Trusts | 0 | 0 | 0 | ||||||
Fixed Income Funds [Member] | Indiana Michigan Power Co [Member] | Other [Member] | |||||||||
Spent Nuclear Fuel and Decommissioning Trusts | |||||||||
Spent Nuclear Fuel and Decommissioning Trusts | 0 | 0 | 0 | ||||||
Fixed Income Funds [Member] | Indiana Michigan Power Co [Member] | |||||||||
Spent Nuclear Fuel and Decommissioning Trusts | |||||||||
Spent Nuclear Fuel and Decommissioning Trusts | 1,264,000,000 | 1,264,000,000 | 1,188,700,000 | ||||||
Fixed Income Funds [Member] | Indiana Michigan Power Co [Member] | Level 1 [Member] | |||||||||
Spent Nuclear Fuel and Decommissioning Trusts | |||||||||
Spent Nuclear Fuel and Decommissioning Trusts | 0 | 0 | 0 | ||||||
Fixed Income Funds [Member] | Indiana Michigan Power Co [Member] | Level 2 [Member] | |||||||||
Spent Nuclear Fuel and Decommissioning Trusts | |||||||||
Spent Nuclear Fuel and Decommissioning Trusts | 1,264,000,000 | 1,264,000,000 | 1,188,700,000 | ||||||
Fixed Income Funds [Member] | Indiana Michigan Power Co [Member] | Level 3 [Member] | |||||||||
Spent Nuclear Fuel and Decommissioning Trusts | |||||||||
Spent Nuclear Fuel and Decommissioning Trusts | 0 | 0 | 0 | ||||||
Domestic [Member] | Other [Member] | |||||||||
Spent Nuclear Fuel and Decommissioning Trusts | |||||||||
Spent Nuclear Fuel and Decommissioning Trusts | [17] | 0 | 0 | 0 | |||||
Domestic [Member] | |||||||||
Spent Nuclear Fuel and Decommissioning Trusts | |||||||||
Spent Nuclear Fuel and Decommissioning Trusts | [17] | 2,360,600,000 | 2,360,600,000 | 2,131,300,000 | |||||
Domestic [Member] | Level 1 [Member] | |||||||||
Spent Nuclear Fuel and Decommissioning Trusts | |||||||||
Spent Nuclear Fuel and Decommissioning Trusts | [17] | 2,360,600,000 | 2,360,600,000 | 2,131,300,000 | |||||
Domestic [Member] | Level 2 [Member] | |||||||||
Spent Nuclear Fuel and Decommissioning Trusts | |||||||||
Spent Nuclear Fuel and Decommissioning Trusts | [17] | 0 | 0 | 0 | |||||
Domestic [Member] | Level 3 [Member] | |||||||||
Spent Nuclear Fuel and Decommissioning Trusts | |||||||||
Spent Nuclear Fuel and Decommissioning Trusts | [17] | 0 | 0 | 0 | |||||
Domestic [Member] | Indiana Michigan Power Co [Member] | Other [Member] | |||||||||
Spent Nuclear Fuel and Decommissioning Trusts | |||||||||
Spent Nuclear Fuel and Decommissioning Trusts | [17] | 0 | 0 | 0 | |||||
Domestic [Member] | Indiana Michigan Power Co [Member] | |||||||||
Spent Nuclear Fuel and Decommissioning Trusts | |||||||||
Spent Nuclear Fuel and Decommissioning Trusts | [17] | 2,360,600,000 | 2,360,600,000 | 2,131,300,000 | |||||
Domestic [Member] | Indiana Michigan Power Co [Member] | Level 1 [Member] | |||||||||
Spent Nuclear Fuel and Decommissioning Trusts | |||||||||
Spent Nuclear Fuel and Decommissioning Trusts | [17] | 2,360,600,000 | 2,360,600,000 | 2,131,300,000 | |||||
Domestic [Member] | Indiana Michigan Power Co [Member] | Level 2 [Member] | |||||||||
Spent Nuclear Fuel and Decommissioning Trusts | |||||||||
Spent Nuclear Fuel and Decommissioning Trusts | [17] | 0 | 0 | 0 | |||||
Domestic [Member] | Indiana Michigan Power Co [Member] | Level 3 [Member] | |||||||||
Spent Nuclear Fuel and Decommissioning Trusts | |||||||||
Spent Nuclear Fuel and Decommissioning Trusts | [17] | $ 0 | $ 0 | $ 0 | |||||
[1]Included in revenues on the statements of income.[2]Represents the change in fair value between the beginning of the reporting period and the settlement of the risk management commodity contract.[3]Included in cash flow hedges on the statements of comprehensive income.[4]Represents existing assets or liabilities that were previously categorized as Level 2.[5]Transfers are recognized based on their value at the beginning of the reporting period that the transfer occurred.[6]Relates to the net gains (losses) of those contracts that are not reflected on the statements of income. These changes in fair value are recorded as regulatory liabilities for net gains and as regulatory assets for net losses or accounts payable.[7]Amounts in “Other’’ column primarily represent counterparty netting of risk management and hedging contracts and associated cash collateral under the accounting guidance for “Derivatives and Hedging.’’[8]The June 30, 2023 maturities of the net fair value of risk management contracts prior to cash collateral, assets/(liabilities), were as follows: Level 1 matures $(6) million in 2023 and $(8) million in periods 2024-2026; Level 2 matures $(27) million in 2023, $59 million in periods 2024-2026, $12 million in periods 2027-2028 and $2 million in periods 2029-2033; Level 3 matures $63 million in 2023, $56 million in periods 2024-2026, $1 million in periods 2027-2028 and $(14) million in periods 2029-2033. Risk management commodity contracts are substantially comprised of power contracts.[9]The December 31, 2022 maturities of the net fair value of risk management contracts prior to cash collateral, assets/(liabilities), were as follows: Level 1 matures $(7) million in 2023; Level 2 matures $182 million in 2023, $134 million in periods 2024-2026, $10 million in periods 2027-2028 and $1 million in periods 2029-2033; Level 3 matures $128 million in 2023, $6 million in periods 2024-2026, $6 million in periods 2027-2028 and $(5) million in periods 2029-2033. Risk management commodity contracts are substantially comprised of power contracts.[10]Represents market prices in dollars per MWh.[11]The weighted average is the product of the forward market price of the underlying commodity and volume weighted by term.[12]Represents market prices in dollars per MMBtu.[13]Substantially comprised of power contracts for the Registrant Subsidiaries.[14]Primarily represents amounts held for the repayment of debt.[15]Amounts in “Other’’ column primarily represent cash deposits in bank accounts with financial institutions or third-parties. Level 1 and Level 2 amounts primarily represent investments in money market funds.[16]Primarily short and intermediate maturities which may be sold and do not contain maturity dates.[17]Amounts represent publicly traded equity securities and equity-based mutual funds.[18]Amounts in “Other’’ column primarily represent accrued interest receivables from financial institutions. Level 1 amounts primarily represent investments in money market funds. |
Income Taxes (Details)
Income Taxes (Details) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Effective Income Tax Rate Reconciliation, Percent [Abstract] | ||||
U.S. Federal Statutory Rate | 21% | 21% | 21% | 21% |
State Income Tax, net of Federal Benefit | 2.10% | 1.30% | 2% | 1.40% |
Tax Reform Excess ADIT Reversal | (6.20%) | (7.10%) | (6.20%) | (6.80%) |
Production and Investment Tax Credits | (9.90%) | (6.10%) | (9.80%) | (7.10%) |
Flow Through | (1.00%) | (0.10%) | (0.50%) | 0.10% |
AFUDC Equity | (1.20%) | (1.10%) | (1.30%) | (1.00%) |
Discrete Tax Adjustments | 0.30% | (1.40%) | (0.20%) | |
Other | 0.40% | 1.10% | 0.30% | 0.50% |
Effective Income Tax Rate | 5.20% | 9.30% | 4.10% | 7.90% |
Income Taxes (Textuals) [Abstract] | ||||
corporate alternative minimum tax | 15% | |||
AEP Texas Inc. [Member] | ||||
Effective Income Tax Rate Reconciliation, Percent [Abstract] | ||||
U.S. Federal Statutory Rate | 21% | 21% | 21% | 21% |
State Income Tax, net of Federal Benefit | 0.60% | 0.70% | 0.50% | 0.50% |
Tax Reform Excess ADIT Reversal | (1.30%) | (2.10%) | (1.40%) | (2.00%) |
Production and Investment Tax Credits | (0.20%) | (0.60%) | (0.20%) | (0.40%) |
Flow Through | 0.10% | 0.20% | 0.20% | 0.20% |
AFUDC Equity | (0.90%) | (1.40%) | (1.10%) | (1.10%) |
Discrete Tax Adjustments | 0% | 0% | 0% | |
Other | 0.30% | 0.10% | 0.20% | (0.10%) |
Effective Income Tax Rate | 19.60% | 17.90% | 19.20% | 18.10% |
AEP Transmission Co [Member] | ||||
Effective Income Tax Rate Reconciliation, Percent [Abstract] | ||||
U.S. Federal Statutory Rate | 21% | 21% | 21% | 21% |
State Income Tax, net of Federal Benefit | 2.60% | 2.90% | 2.60% | 2.70% |
Tax Reform Excess ADIT Reversal | 0.10% | 0.30% | 0.20% | 0.30% |
Production and Investment Tax Credits | 0% | 0% | 0% | 0% |
Flow Through | 0.20% | 0.40% | 0.20% | 0.30% |
AFUDC Equity | (2.10%) | (2.30%) | (1.80%) | (1.90%) |
Discrete Tax Adjustments | 0% | 0% | 0% | |
Other | 0% | 0.10% | 0% | 0.20% |
Effective Income Tax Rate | 21.80% | 22.40% | 22.20% | 22.60% |
Appalachian Power Co [Member] | ||||
Effective Income Tax Rate Reconciliation, Percent [Abstract] | ||||
U.S. Federal Statutory Rate | 21% | 21% | 21% | 21% |
State Income Tax, net of Federal Benefit | 3.20% | (1.00%) | 2.60% | 1.50% |
Tax Reform Excess ADIT Reversal | (4.50%) | (20.40%) | (4.50%) | (11.00%) |
Production and Investment Tax Credits | (0.10%) | 0% | (0.10%) | 0% |
Flow Through | (5.10%) | (1.40%) | (0.80%) | 0.60% |
AFUDC Equity | (1.50%) | (1.50%) | (0.90%) | (1.00%) |
Discrete Tax Adjustments | (6.00%) | 2.40% | (2.60%) | |
Other | (0.40%) | (0.20%) | (0.10%) | 0% |
Effective Income Tax Rate | 12.60% | (9.50%) | 19.60% | 8.50% |
Indiana Michigan Power Co [Member] | ||||
Effective Income Tax Rate Reconciliation, Percent [Abstract] | ||||
U.S. Federal Statutory Rate | 21% | 21% | 21% | 21% |
State Income Tax, net of Federal Benefit | 0.70% | (1.30%) | 2.40% | 0.40% |
Tax Reform Excess ADIT Reversal | (6.10%) | (17.20%) | (7.20%) | (17.20%) |
Production and Investment Tax Credits | 0.10% | (3.40%) | (0.60%) | (2.30%) |
Flow Through | (4.40%) | (1.20%) | (2.90%) | (1.60%) |
AFUDC Equity | (0.10%) | (1.30%) | (0.30%) | (0.90%) |
Discrete Tax Adjustments | 0% | 1% | 0% | |
Other | 0.10% | 1.30% | 0.10% | 0.40% |
Effective Income Tax Rate | 11.30% | (2.10%) | 13.50% | (0.20%) |
Ohio Power Co [Member] | ||||
Effective Income Tax Rate Reconciliation, Percent [Abstract] | ||||
U.S. Federal Statutory Rate | 21% | 21% | 21% | 21% |
State Income Tax, net of Federal Benefit | 0.80% | 1% | 0.90% | 0.90% |
Tax Reform Excess ADIT Reversal | (8.50%) | (7.80%) | (7.60%) | (7.80%) |
Production and Investment Tax Credits | 0% | 0% | 0% | 0% |
Flow Through | 1.20% | 0.20% | 0.80% | 0.60% |
AFUDC Equity | (0.70%) | (0.70%) | (0.80%) | (0.60%) |
Discrete Tax Adjustments | 0% | 0% | 0% | |
Other | 0.10% | 0.10% | 0.10% | (0.10%) |
Effective Income Tax Rate | 13.90% | 13.80% | 14.40% | 14% |
Public Service Co Of Oklahoma [Member] | ||||
Effective Income Tax Rate Reconciliation, Percent [Abstract] | ||||
U.S. Federal Statutory Rate | 21% | 21% | 21% | 21% |
State Income Tax, net of Federal Benefit | 2% | 3.90% | 2% | 3.50% |
Tax Reform Excess ADIT Reversal | (17.20%) | (19.20%) | (17.10%) | (18.60%) |
Production and Investment Tax Credits | (55.10%) | (32.20%) | (55.20%) | (31.40%) |
Flow Through | 0.30% | 0.30% | 0.30% | 0.30% |
AFUDC Equity | (1.40%) | (0.40%) | (1.40%) | (0.50%) |
Discrete Tax Adjustments | 0% | 0% | 0% | |
Other | 0% | 0.50% | 0.10% | 0.30% |
Effective Income Tax Rate | (50.40%) | (26.10%) | (50.30%) | (25.40%) |
Southwestern Electric Power Co [Member] | ||||
Effective Income Tax Rate Reconciliation, Percent [Abstract] | ||||
U.S. Federal Statutory Rate | 21% | 21% | 21% | 21% |
State Income Tax, net of Federal Benefit | (1.60%) | 2.50% | (1.20%) | 2.40% |
Tax Reform Excess ADIT Reversal | (4.20%) | (5.20%) | (4.00%) | (5.10%) |
Production and Investment Tax Credits | (29.20%) | (19.80%) | (28.20%) | (20.80%) |
Flow Through | (0.80%) | 0% | (0.30%) | (0.20%) |
AFUDC Equity | 0% | (0.50%) | (0.30%) | (0.50%) |
Discrete Tax Adjustments | 0.80% | 0% | 0.50% | |
Other | 0.70% | (0.10%) | 0.10% | 0% |
Effective Income Tax Rate | (14.10%) | (1.30%) | (12.90%) | (2.70%) |
Financing Activities (Details)
Financing Activities (Details) - USD ($) | 1 Months Ended | 3 Months Ended | 6 Months Ended | |||||||||||
Mar. 15, 2023 | Jul. 27, 2023 | Jun. 30, 2023 | Mar. 31, 2023 | Jun. 30, 2022 | Mar. 31, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | Dec. 31, 2022 | ||||||
Long-term Debt | ||||||||||||||
Senior Unsecured Notes | $ 33,491,500,000 | $ 33,491,500,000 | $ 30,174,800,000 | |||||||||||
Pollution Control Bonds | 1,770,900,000 | 1,770,900,000 | 1,770,200,000 | |||||||||||
Notes Payable | 165,800,000 | 165,800,000 | 269,700,000 | |||||||||||
Securitization Bonds | 432,100,000 | 432,100,000 | 487,800,000 | |||||||||||
Spent Nuclear Fuel Obligation | [1] | 292,300,000 | 292,300,000 | 285,600,000 | ||||||||||
Junior Subordinated Notes | [2] | 2,385,000,000 | 2,385,000,000 | 2,381,300,000 | ||||||||||
Other Long-term Debt | 1,604,700,000 | 1,604,700,000 | 1,431,600,000 | |||||||||||
Total Long-term Debt Outstanding | 40,142,300,000 | 40,142,300,000 | 36,801,000,000 | |||||||||||
Long-term Debt Due Within One Year | 3,380,300,000 | 3,380,300,000 | 2,486,400,000 | |||||||||||
Long-term Debt | 36,762,000,000 | 36,762,000,000 | 34,314,600,000 | |||||||||||
Liabilities Held for Sale | 64,800,000 | 64,800,000 | 0 | |||||||||||
Long-term Debt and Other Securities Issued, Retired and Principal Payments Made | ||||||||||||||
Proceeds from Issuance of Debt | [3] | 4,003,000,000 | ||||||||||||
Repayments of Long-term Debt | 641,700,000 | $ 582,400,000 | ||||||||||||
Short-term Debt: | ||||||||||||||
Securitized Debt for Receivables | [4] | 750,000,000 | 750,000,000 | 750,000,000 | ||||||||||
Commercial Paper | 2,238,700,000 | 2,238,700,000 | 2,862,200,000 | |||||||||||
Total Short-term Debt | $ 3,867,600,000 | $ 3,867,600,000 | $ 4,112,200,000 | |||||||||||
Securitized Debt for Receivables | [4],[5] | 5.45% | 5.45% | 4.67% | ||||||||||
Comparative Accounts Receivable Information | ||||||||||||||
Effective Interest Rates on Securitization of Accounts Receivable | 5.25% | 0.91% | 5.06% | 0.61% | ||||||||||
Net Uncollectible Accounts Receivable Written Off | $ 7,300,000 | $ 6,200,000 | $ 14,100,000 | $ 13,600,000 | ||||||||||
Customer Accounts Receivable Managed Portfolio | ||||||||||||||
Accounts Receivable Retained Interest and Pledged as Collateral Less Uncollectible Accounts | 1,184,900,000 | 1,184,900,000 | $ 1,167,700,000 | |||||||||||
Total Principal Outstanding | 750,000,000 | 750,000,000 | 750,000,000 | |||||||||||
Delinquent Securitized Accounts Receivable | 49,400,000 | 49,400,000 | 44,200,000 | |||||||||||
Bad Debt Reserves Related to Securitization, Sale of Accounts Receivable | 41,700,000 | 41,700,000 | 39,700,000 | |||||||||||
Unbilled Receivables Related to Securitization, Sale of Accounts Receivable | 392,400,000 | 392,400,000 | 360,900,000 | |||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 4,372,500,000 | 4,639,700,000 | 9,063,400,000 | 9,232,300,000 | ||||||||||
Financing Activities (Textuals) | ||||||||||||||
Maximum Value of Shares to be Issued Under ATM Program | $ 1,000,000,000 | |||||||||||||
Maximum Percentage Paid to Selling Agents | 2% | |||||||||||||
Issuance of Common Stock | $ 77,600,000 | 812,700,000 | ||||||||||||
Trust Fund Assets One Time Fee Obligation for Nuclear Fuel Disposition | 330,000,000 | |||||||||||||
Maximum Percentage Debt to Capitalization | 67.50% | |||||||||||||
Total Commitment from Bank Conduits to Finance Receivables | 750,000,000 | $ 750,000,000 | ||||||||||||
Forward Equity Purchase Contract Included in Current and Noncurrent Liabilities as of September 30, | (3,300,000) | $ 12,500,000 | (18,800,000) | $ 16,700,000 | ||||||||||
Commitment from Bank Conduits to Finance Receivables | 125,000,000 | 125,000,000 | ||||||||||||
Commitment from Bank Conduits to Finance Receivables Two | 625,000,000 | 625,000,000 | ||||||||||||
Assets Held for Sale | 1,382,800,000 | 1,382,800,000 | $ 0 | |||||||||||
Issuance of Long-term Debt | 3,958,800,000 | 2,639,100,000 | ||||||||||||
Related Party | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 0 | 0 | 0 | 0 | ||||||||||
Reconciling Adjustments [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 0 | 0 | 0 | 0 | ||||||||||
Reconciling Adjustments [Member] | Related Party | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | (464,200,000) | (373,300,000) | (907,900,000) | (765,500,000) | ||||||||||
Vertically Integrated Utilities [Member] | Related Party | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 45,500,000 | 53,500,000 | 87,000,000 | 94,100,000 | ||||||||||
Transmission And Distribution Utilities [Member] | Related Party | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 9,400,000 | 4,800,000 | 18,300,000 | 9,400,000 | ||||||||||
Generation And Marketing [Member] | Related Party | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 13,200,000 | 5,200,000 | 13,300,000 | 15,000,000 | ||||||||||
Other Segments [Member] | Related Party | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | [6] | 25,800,000 | 10,100,000 | 53,600,000 | 19,300,000 | |||||||||
Wholesale Transmission [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 350,600,000 | [7] | 363,300,000 | [8] | 677,800,000 | [9] | 676,200,000 | [10] | ||||||
Wholesale Transmission [Member] | Reconciling Adjustments [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | (402,800,000) | [7] | (332,000,000) | [8] | (804,600,000) | [9] | (693,800,000) | [10] | ||||||
Wholesale Transmission [Member] | AEP Transmission Holdco [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 455,800,000 | [7] | 421,600,000 | [8] | 905,900,000 | [9] | 836,100,000 | [10] | ||||||
Wholesale Transmission [Member] | AEP Transmission Holdco [Member] | Related Party | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 360,000,000 | 334,000,000 | 712,000,000 | 661,000,000 | ||||||||||
Wholesale Transmission [Member] | Vertically Integrated Utilities [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 113,500,000 | [7] | 108,800,000 | [8] | 228,200,000 | [9] | 214,100,000 | [10] | ||||||
Wholesale Transmission [Member] | Vertically Integrated Utilities [Member] | Related Party | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 80,000,000 | |||||||||||||
Wholesale Transmission [Member] | Transmission And Distribution Utilities [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 184,100,000 | [7] | 164,900,000 | [8] | 348,300,000 | [9] | 319,800,000 | [10] | ||||||
Wholesale Transmission [Member] | Generation And Marketing [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 0 | [7] | 0 | [8] | 0 | [9] | 0 | [10] | ||||||
Wholesale Transmission [Member] | Other Segments [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 0 | [7] | 0 | [8] | 0 | [9] | 0 | [10] | ||||||
Other Revenues [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 117,200,000 | [11] | 116,700,000 | [12] | 182,500,000 | [13] | 235,800,000 | [14] | ||||||
Other Revenues [Member] | Reconciling Adjustments [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | (39,900,000) | [11] | (21,100,000) | [12] | (83,600,000) | [13] | (39,700,000) | [14] | ||||||
Other Revenues [Member] | AEP Transmission Holdco [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 4,300,000 | [11] | 200,000 | [12] | 7,900,000 | [13] | 0 | [14] | ||||||
Other Revenues [Member] | Corporate and Other | Related Party | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 26,000,000 | |||||||||||||
Other Revenues [Member] | Vertically Integrated Utilities [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 61,900,000 | [11] | 49,200,000 | [12] | 94,500,000 | [13] | 110,800,000 | [14] | ||||||
Other Revenues [Member] | Transmission And Distribution Utilities [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 56,100,000 | [11] | 65,900,000 | [12] | 98,900,000 | [13] | 119,700,000 | [14] | ||||||
Other Revenues [Member] | Generation And Marketing [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 6,200,000 | [11] | 1,600,000 | [12] | 6,800,000 | [13] | 10,200,000 | [14] | ||||||
Other Revenues [Member] | Other Segments [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 28,600,000 | [11] | 20,900,000 | [12] | 58,000,000 | [13] | 34,800,000 | [14] | ||||||
Wholesale Generation [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 161,100,000 | 271,400,000 | 376,300,000 | 498,900,000 | ||||||||||
Wholesale Generation [Member] | Reconciling Adjustments [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 100,000 | 100,000 | 100,000 | 100,000 | ||||||||||
Wholesale Generation [Member] | AEP Transmission Holdco [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 0 | 0 | 0 | 0 | ||||||||||
Wholesale Generation [Member] | Vertically Integrated Utilities [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 141,400,000 | 188,300,000 | 324,200,000 | 375,500,000 | ||||||||||
Wholesale Generation [Member] | Transmission And Distribution Utilities [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 0 | 0 | 0 | 0 | ||||||||||
Wholesale Generation [Member] | Generation And Marketing [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 19,600,000 | 83,000,000 | 52,000,000 | 123,300,000 | ||||||||||
Wholesale Generation [Member] | Other Segments [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 0 | 0 | 0 | 0 | ||||||||||
Residential [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 1,536,100,000 | 1,540,900,000 | 3,363,300,000 | 3,292,300,000 | ||||||||||
Residential [Member] | Reconciling Adjustments [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 0 | 0 | 0 | 0 | ||||||||||
Residential [Member] | AEP Transmission Holdco [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 0 | 0 | 0 | 0 | ||||||||||
Residential [Member] | Vertically Integrated Utilities [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 962,000,000 | 979,300,000 | 2,132,400,000 | 2,130,100,000 | ||||||||||
Residential [Member] | Transmission And Distribution Utilities [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 574,100,000 | 561,600,000 | 1,230,900,000 | 1,162,200,000 | ||||||||||
Residential [Member] | Generation And Marketing [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 0 | 0 | 0 | 0 | ||||||||||
Residential [Member] | Other Segments [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 0 | 0 | 0 | 0 | ||||||||||
Commercial [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 1,001,000,000 | 956,500,000 | 2,010,300,000 | 1,819,100,000 | ||||||||||
Commercial [Member] | Reconciling Adjustments [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 0 | 0 | 0 | 0 | ||||||||||
Commercial [Member] | AEP Transmission Holdco [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 0 | 0 | 0 | 0 | ||||||||||
Commercial [Member] | Vertically Integrated Utilities [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 642,700,000 | 624,800,000 | 1,276,100,000 | 1,197,700,000 | ||||||||||
Commercial [Member] | Transmission And Distribution Utilities [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 358,300,000 | 331,700,000 | 734,200,000 | 621,400,000 | ||||||||||
Commercial [Member] | Generation And Marketing [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 0 | 0 | 0 | 0 | ||||||||||
Commercial [Member] | Other Segments [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 0 | 0 | 0 | 0 | ||||||||||
Industrial [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 850,900,000 | 804,300,000 | 1,733,900,000 | [15] | 1,500,200,000 | |||||||||
Industrial [Member] | Reconciling Adjustments [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | (100,000) | 0 | (300,000) | [15] | (400,000) | |||||||||
Industrial [Member] | AEP Transmission Holdco [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 0 | 0 | 0 | [15] | 0 | |||||||||
Industrial [Member] | Vertically Integrated Utilities [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 698,900,000 | 641,800,000 | 1,369,200,000 | [15] | 1,204,800,000 | |||||||||
Industrial [Member] | Transmission And Distribution Utilities [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 152,100,000 | 162,500,000 | 365,000,000 | [15] | 295,800,000 | |||||||||
Industrial [Member] | Generation And Marketing [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 0 | 0 | 0 | [15] | 0 | |||||||||
Industrial [Member] | Other Segments [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 0 | 0 | 0 | [15] | 0 | |||||||||
Other Retail [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 71,200,000 | 65,700,000 | 140,100,000 | 124,700,000 | ||||||||||
Other Retail [Member] | Reconciling Adjustments [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 0 | 0 | 0 | 0 | ||||||||||
Other Retail [Member] | AEP Transmission Holdco [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 0 | 0 | 0 | 0 | ||||||||||
Other Retail [Member] | Vertically Integrated Utilities [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 58,900,000 | 52,900,000 | 115,700,000 | 100,300,000 | ||||||||||
Other Retail [Member] | Transmission And Distribution Utilities [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 12,300,000 | 12,800,000 | 24,400,000 | 24,400,000 | ||||||||||
Other Retail [Member] | Generation And Marketing [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 0 | 0 | 0 | 0 | ||||||||||
Other Retail [Member] | Other Segments [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 0 | 0 | 0 | 0 | ||||||||||
Retail [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 3,459,200,000 | 3,367,400,000 | 7,247,600,000 | 6,736,300,000 | ||||||||||
Retail [Member] | Reconciling Adjustments [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | (100,000) | 0 | (300,000) | (400,000) | ||||||||||
Retail [Member] | AEP Transmission Holdco [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 0 | 0 | 0 | 0 | ||||||||||
Retail [Member] | Vertically Integrated Utilities [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 2,362,500,000 | 2,298,800,000 | 4,893,400,000 | 4,632,900,000 | ||||||||||
Retail [Member] | Transmission And Distribution Utilities [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 1,096,800,000 | 1,068,600,000 | 2,354,500,000 | 2,103,800,000 | ||||||||||
Retail [Member] | Generation And Marketing [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 0 | 0 | 0 | 0 | ||||||||||
Retail [Member] | Other Segments [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 0 | 0 | 0 | 0 | ||||||||||
Renewable Generation [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 30,000,000 | [16] | 35,300,000 | [17] | 51,200,000 | [15] | 56,900,000 | [18] | ||||||
Renewable Generation [Member] | Reconciling Adjustments [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | (3,100,000) | [16] | (2,900,000) | [17] | (3,200,000) | [15] | (3,700,000) | [18] | ||||||
Renewable Generation [Member] | AEP Transmission Holdco [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 0 | [16] | 0 | [17] | 0 | [15] | 0 | [18] | ||||||
Renewable Generation [Member] | Vertically Integrated Utilities [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 0 | [16] | 0 | [17] | 0 | [15] | 0 | [18] | ||||||
Renewable Generation [Member] | Transmission And Distribution Utilities [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 0 | [16] | 0 | [17] | 0 | [15] | 0 | [18] | ||||||
Renewable Generation [Member] | Generation And Marketing [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 33,100,000 | [16] | 38,200,000 | [17] | 54,400,000 | [15] | 60,600,000 | [18] | ||||||
Renewable Generation [Member] | Other Segments [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 0 | [16] | 0 | [17] | 0 | [15] | 0 | [18] | ||||||
Retail, Trading and Marketing Revenues [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 398,800,000 | [16] | 407,300,000 | [17] | 812,300,000 | [19] | 790,300,000 | [20] | ||||||
Retail, Trading and Marketing Revenues [Member] | Reconciling Adjustments [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | (10,100,000) | [16] | (2,300,000) | [17] | (10,000,000) | [19] | (11,300,000) | [20] | ||||||
Retail, Trading and Marketing Revenues [Member] | AEP Transmission Holdco [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 0 | [16] | 0 | [17] | 0 | [19] | 0 | [20] | ||||||
Retail, Trading and Marketing Revenues [Member] | Vertically Integrated Utilities [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 0 | [16] | 0 | [17] | 0 | [19] | 0 | [20] | ||||||
Retail, Trading and Marketing Revenues [Member] | Vertically Integrated Utilities [Member] | Related Party | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 5,000,000 | |||||||||||||
Retail, Trading and Marketing Revenues [Member] | Transmission And Distribution Utilities [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 0 | [16] | 0 | [17] | 0 | [19] | 0 | [20] | ||||||
Retail, Trading and Marketing Revenues [Member] | Generation And Marketing [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 407,700,000 | [16] | 408,300,000 | [17] | 821,400,000 | [19] | 797,100,000 | [20] | ||||||
Retail, Trading and Marketing Revenues [Member] | Other Segments [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 1,200,000 | [16] | 1,300,000 | [17] | 900,000 | [19] | 4,500,000 | [20] | ||||||
Wholesale and Competitive [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 940,500,000 | 1,077,300,000 | 1,917,600,000 | 2,022,300,000 | ||||||||||
Wholesale and Competitive [Member] | Reconciling Adjustments [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | (415,900,000) | (337,100,000) | (817,700,000) | (708,700,000) | ||||||||||
Wholesale and Competitive [Member] | AEP Transmission Holdco [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 455,800,000 | 421,600,000 | 905,900,000 | 836,100,000 | ||||||||||
Wholesale and Competitive [Member] | Vertically Integrated Utilities [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 254,900,000 | 297,100,000 | 552,400,000 | 589,600,000 | ||||||||||
Wholesale and Competitive [Member] | Transmission And Distribution Utilities [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 184,100,000 | 164,900,000 | 348,300,000 | 319,800,000 | ||||||||||
Wholesale and Competitive [Member] | Generation And Marketing [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 460,400,000 | 529,500,000 | 927,800,000 | 981,000,000 | ||||||||||
Wholesale and Competitive [Member] | Other Segments [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 1,200,000 | 1,300,000 | 900,000 | 4,500,000 | ||||||||||
Affiliated and Nonaffiliated [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 4,516,900,000 | 4,561,400,000 | 9,347,700,000 | 8,994,400,000 | ||||||||||
Affiliated and Nonaffiliated [Member] | Reconciling Adjustments [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | (455,900,000) | (358,200,000) | (901,600,000) | (748,800,000) | ||||||||||
Affiliated and Nonaffiliated [Member] | AEP Transmission Holdco [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 460,100,000 | 421,800,000 | 913,800,000 | 836,100,000 | ||||||||||
Affiliated and Nonaffiliated [Member] | Vertically Integrated Utilities [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 2,679,300,000 | 2,645,100,000 | 5,540,300,000 | 5,333,300,000 | ||||||||||
Affiliated and Nonaffiliated [Member] | Transmission And Distribution Utilities [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 1,337,000,000 | 1,299,400,000 | 2,801,700,000 | 2,543,300,000 | ||||||||||
Affiliated and Nonaffiliated [Member] | Generation And Marketing [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 466,600,000 | 531,100,000 | 934,600,000 | 991,200,000 | ||||||||||
Affiliated and Nonaffiliated [Member] | Other Segments [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 29,800,000 | 22,200,000 | 58,900,000 | 39,300,000 | ||||||||||
Other Revenues [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 94,500,000 | 93,500,000 | 186,900,000 | 187,600,000 | ||||||||||
Other Revenues [Member] | Corporate and Other | Related Party | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 55,000,000 | 19,000,000 | ||||||||||||
Other Revenues [Member] | Other Segments [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | [6] | 6,200,000 | 14,400,000 | 8,500,000 | 25,100,000 | |||||||||
Retail, Trading and Marketing | Generation And Marketing [Member] | Related Party | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | $ 10,000,000 | 11,000,000 | ||||||||||||
2020 Equity Units [Member] | ||||||||||||||
Financing Activities (Textuals) | ||||||||||||||
Equity Units Issued | 17,000,000 | |||||||||||||
Per Unit Conversion for Equity Units | $ 50 | $ 50 | ||||||||||||
Net Equity Units Issuance Proceeds | 833,000,000 | |||||||||||||
Principal Amounts of Junior Subordinated Debt | $ 1,000 | |||||||||||||
Forward Equity Purchase Contract Date | 2023 | |||||||||||||
Maximum Shares Issued Under Equity Units Conversion | 10,205,100 | |||||||||||||
Corporate unit ownership share of an equity unit | 5% | 5% | ||||||||||||
Junior Subordinated Debt [Member] | ||||||||||||||
Long-term Debt and Other Securities Issued, Retired and Principal Payments Made | ||||||||||||||
Interest Rate (Percentage) | 5.699% | 5.699% | ||||||||||||
Junior Subordinated Debt [Member] | 2020 Equity Units [Member] | ||||||||||||||
Long-term Debt and Other Securities Issued, Retired and Principal Payments Made | ||||||||||||||
Proceeds from Issuance of Debt | $ 850,000,000 | |||||||||||||
Interest Rate (Percentage) | 1.30% | 1.30% | ||||||||||||
Senior Unsecured Notes [Member] | ||||||||||||||
Long-term Debt and Other Securities Issued, Retired and Principal Payments Made | ||||||||||||||
Proceeds from Issuance of Debt | [3] | $ 850,000,000 | ||||||||||||
Due Date | 2033 | |||||||||||||
Interest Rate (Percentage) | 5.63% | 5.63% | ||||||||||||
Commercial Paper [Member] | ||||||||||||||
Short-term Debt: | ||||||||||||||
Weighted Average Interest Rate | [5] | 5.50% | 5.50% | 4.80% | ||||||||||
Term Loan [Member] | ||||||||||||||
Short-term Debt: | ||||||||||||||
Weighted Average Interest Rate | [5] | 5.94% | 5.94% | 5.17% | ||||||||||
Term Loan | $ 125,000,000 | $ 125,000,000 | $ 125,000,000 | |||||||||||
Term Loan 2 [Member] | ||||||||||||||
Short-term Debt: | ||||||||||||||
Weighted Average Interest Rate | [5] | 5.94% | 5.94% | 5.17% | ||||||||||
Term Loan | $ 150,000,000 | $ 150,000,000 | $ 150,000,000 | |||||||||||
Term Loan 3 | ||||||||||||||
Short-term Debt: | ||||||||||||||
Weighted Average Interest Rate | [5] | 6.08% | 6.08% | 0% | ||||||||||
Term Loan | $ 500,000,000 | $ 500,000,000 | $ 0 | |||||||||||
Term Loan 4 | ||||||||||||||
Short-term Debt: | ||||||||||||||
Weighted Average Interest Rate | [5] | 5.94% | 5.94% | 5.23% | ||||||||||
Term Loan | $ 100,000,000 | $ 100,000,000 | $ 100,000,000 | |||||||||||
Term Loan 5 | ||||||||||||||
Short-term Debt: | ||||||||||||||
Weighted Average Interest Rate | [5] | 0% | 0% | 4.87% | ||||||||||
Term Loan | $ 0 | $ 0 | $ 125,000,000 | |||||||||||
AEP Texas Inc. [Member] | ||||||||||||||
Long-term Debt | ||||||||||||||
Total Long-term Debt Outstanding | 5,937,500,000 | 5,937,500,000 | 5,657,800,000 | |||||||||||
Long-term Debt Due Within One Year | 154,700,000 | 154,700,000 | 278,500,000 | |||||||||||
Long-term Debt | 5,782,800,000 | 5,782,800,000 | 5,379,300,000 | |||||||||||
Long-term Debt and Other Securities Issued, Retired and Principal Payments Made | ||||||||||||||
Repayments of Long-term Debt | $ 168,200,000 | 242,000,000 | ||||||||||||
Financing Activities (Textuals) | ||||||||||||||
Maximum Percentage Debt to Capitalization | 67.50% | |||||||||||||
Issuance of Long-term Debt | $ 445,900,000 | 1,188,600,000 | ||||||||||||
AEP Texas Inc. [Member] | Related Party | ||||||||||||||
Short-term Debt: | ||||||||||||||
Net Borrowings from Money Pool | 135,900,000 | 135,900,000 | 96,500,000 | |||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 1,300,000 | 800,000 | 2,500,000 | 1,700,000 | ||||||||||
Financing Activities (Textuals) | ||||||||||||||
Net Loans To Money Pool | 6,900,000 | 6,900,000 | 6,900,000 | |||||||||||
AEP Texas Inc. [Member] | Wholesale Transmission [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 163,100,000 | [21] | 143,800,000 | [22] | 309,400,000 | [23] | 276,900,000 | [24] | ||||||
AEP Texas Inc. [Member] | Other Revenues [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 10,700,000 | [25] | 5,600,000 | [26] | 20,400,000 | [27] | 14,900,000 | [28] | ||||||
AEP Texas Inc. [Member] | Wholesale Generation [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 0 | [29] | 0 | [30] | 0 | [31] | 0 | [32] | ||||||
AEP Texas Inc. [Member] | Residential [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 144,900,000 | 174,900,000 | 275,600,000 | 316,800,000 | ||||||||||
AEP Texas Inc. [Member] | Commercial [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 100,600,000 | 110,600,000 | 197,900,000 | 205,500,000 | ||||||||||
AEP Texas Inc. [Member] | Industrial [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 35,200,000 | 36,600,000 | 74,500,000 | [33] | 67,200,000 | |||||||||
AEP Texas Inc. [Member] | Other Retail [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 8,700,000 | 9,500,000 | 17,000,000 | 17,700,000 | ||||||||||
AEP Texas Inc. [Member] | Retail [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 289,400,000 | 331,600,000 | 565,000,000 | 607,200,000 | ||||||||||
AEP Texas Inc. [Member] | Wholesale and Competitive [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 163,100,000 | 143,800,000 | 309,400,000 | 276,900,000 | ||||||||||
AEP Texas Inc. [Member] | Affiliated and Nonaffiliated [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 463,200,000 | 481,000,000 | 894,800,000 | 899,000,000 | ||||||||||
AEP Texas Inc. [Member] | Other Revenues [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 500,000 | 1,100,000 | $ 1,100,000 | $ 2,200,000 | ||||||||||
AEP Texas Inc. [Member] | Utility [Member] | ||||||||||||||
Maximum Interest Rate | 5.69% | 2.11% | ||||||||||||
Minimum Interest Rate | 4.66% | 0.10% | ||||||||||||
Money Pool Participants Money Pool Activity And Authorized Borrowing Limits | ||||||||||||||
Maximum Borrowings from Money Pool | $ 477,500,000 | |||||||||||||
Maximum Loans to Money Pool | 0 | |||||||||||||
Average Borrowings from Money Pool | 279,900,000 | |||||||||||||
Average Loans to Money Pool | 0 | |||||||||||||
Authorized Short Term Borrowing Limit | $ 500,000,000 | |||||||||||||
Average Interest Rates for Funds Borrowed From and Loaned to Money Pool | ||||||||||||||
Average Interest Rate For Funds Borrowed | 5.35% | 0.90% | ||||||||||||
Average Interest Rate For Funds Loaned | 0% | 1.48% | ||||||||||||
AEP Texas Inc. [Member] | Utility [Member] | Related Party | ||||||||||||||
Short-term Debt: | ||||||||||||||
Net Borrowings from Money Pool | (135,900,000) | $ (135,900,000) | ||||||||||||
AEP Texas Inc. [Member] | Nonutility [Member] | ||||||||||||||
Money Pool Participants Money Pool Activity And Authorized Borrowing Limits | ||||||||||||||
Maximum Loans to Money Pool | 6,900,000 | |||||||||||||
Average Loans to Money Pool | $ 6,800,000 | |||||||||||||
Maximum and Minimum Interest Rates | ||||||||||||||
Maximum Interest Rate For Funds Loaned | 5.69% | 2.11% | ||||||||||||
Minimum Interest Rate for Funds Loaned | 4.66% | 0.46% | ||||||||||||
Average Interest Rates for Funds Borrowed From and Loaned to Money Pool | ||||||||||||||
Average Interest Rate For Funds Loaned | 5.35% | 0.98% | ||||||||||||
AEP Texas Inc. [Member] | Nonutility [Member] | Related Party | ||||||||||||||
Financing Activities (Textuals) | ||||||||||||||
Net Loans To Money Pool | $ 6,900,000 | $ 6,900,000 | ||||||||||||
AEP Texas Inc. [Member] | Securitization Bonds [Member] | ||||||||||||||
Long-term Debt and Other Securities Issued, Retired and Principal Payments Made | ||||||||||||||
Repayments of Long-term Debt | $ 31,500,000 | |||||||||||||
Due Date | 2024 | |||||||||||||
Interest Rate (Percentage) | 2.85% | 2.85% | ||||||||||||
AEP Texas Inc. [Member] | Securitization Bonds Two [Member] | ||||||||||||||
Long-term Debt and Other Securities Issued, Retired and Principal Payments Made | ||||||||||||||
Repayments of Long-term Debt | $ 11,700,000 | |||||||||||||
Due Date | 2025 | |||||||||||||
Interest Rate (Percentage) | 2.06% | 2.06% | ||||||||||||
AEP Texas Inc. [Member] | Senior Unsecured Notes Three | ||||||||||||||
Long-term Debt and Other Securities Issued, Retired and Principal Payments Made | ||||||||||||||
Proceeds from Issuance of Debt | [3] | $ 450,000,000 | ||||||||||||
Due Date | 2033 | |||||||||||||
Interest Rate (Percentage) | 5.40% | 5.40% | ||||||||||||
AEP Texas Inc. [Member] | Senior Unsecured Notes Eight | ||||||||||||||
Long-term Debt and Other Securities Issued, Retired and Principal Payments Made | ||||||||||||||
Repayments of Long-term Debt | $ 125,000,000 | |||||||||||||
Due Date | 2023 | |||||||||||||
Interest Rate (Percentage) | 3.09% | 3.09% | ||||||||||||
AEP Transmission Co [Member] | ||||||||||||||
Long-term Debt | ||||||||||||||
Total Long-term Debt Outstanding | $ 5,473,000,000 | $ 5,473,000,000 | 4,782,800,000 | |||||||||||
Long-term Debt Due Within One Year | 60,000,000 | 60,000,000 | 60,000,000 | |||||||||||
Long-term Debt | 5,413,000,000 | 5,413,000,000 | 4,722,800,000 | |||||||||||
Financing Activities (Textuals) | ||||||||||||||
Sub-Limit of Secured Debt | $ 50,000,000 | $ 50,000,000 | ||||||||||||
Maximum Percentage of Consolidated Tangible Net Assets | 10% | 10% | ||||||||||||
Tangible Capital to Tangible Assets | 0.60% | 0.60% | ||||||||||||
Maximum Percentage Debt to Capitalization | 67.50% | |||||||||||||
Issuance of Long-term Debt | $ 689,100,000 | $ 540,900,000 | ||||||||||||
AEP Transmission Co [Member] | Related Party | ||||||||||||||
Short-term Debt: | ||||||||||||||
Net Borrowings from Money Pool | $ 74,400,000 | 74,400,000 | 229,300,000 | |||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 365,800,000 | 333,900,000 | 723,200,000 | 658,900,000 | ||||||||||
Financing Activities (Textuals) | ||||||||||||||
Net Loans To Money Pool | 79,400,000 | 79,400,000 | 4,400,000 | |||||||||||
AEP Transmission Co [Member] | Reconciling Adjustments [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 0 | 0 | 0 | 0 | ||||||||||
AEP Transmission Co [Member] | Reconciling Adjustments [Member] | Related Party | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 0 | 0 | 0 | 0 | ||||||||||
AEP Transmission Co [Member] | Wholesale Transmission [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 444,700,000 | [21] | 406,100,000 | [22] | 883,400,000 | [23] | 806,400,000 | [24] | ||||||
AEP Transmission Co [Member] | Wholesale Transmission [Member] | Related Party | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 357,000,000 | 330,000,000 | 706,000,000 | 653,000,000 | ||||||||||
AEP Transmission Co [Member] | Other Revenues [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 4,100,000 | [25] | 200,000 | [26] | 7,800,000 | [27] | (100,000) | [28] | ||||||
AEP Transmission Co [Member] | Wholesale Generation [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 0 | [29] | 0 | [30] | 0 | [31] | 0 | [32] | ||||||
AEP Transmission Co [Member] | Residential [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 0 | 0 | 0 | 0 | ||||||||||
AEP Transmission Co [Member] | Commercial [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 0 | 0 | 0 | 0 | ||||||||||
AEP Transmission Co [Member] | Industrial [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 0 | 0 | 0 | [33] | 0 | |||||||||
AEP Transmission Co [Member] | Other Retail [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 0 | 0 | 0 | 0 | ||||||||||
AEP Transmission Co [Member] | Retail [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 0 | 0 | 0 | 0 | ||||||||||
AEP Transmission Co [Member] | Wholesale and Competitive [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 444,700,000 | 406,100,000 | 883,400,000 | 806,400,000 | ||||||||||
AEP Transmission Co [Member] | Affiliated and Nonaffiliated [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 448,800,000 | 406,300,000 | $ 891,200,000 | $ 806,300,000 | ||||||||||
AEP Transmission Co [Member] | Utility [Member] | ||||||||||||||
Maximum Interest Rate | 5.69% | 2.11% | ||||||||||||
Minimum Interest Rate | 4.66% | 0.10% | ||||||||||||
Money Pool Participants Money Pool Activity And Authorized Borrowing Limits | ||||||||||||||
Maximum Borrowings from Money Pool | $ 471,300,000 | |||||||||||||
Maximum Loans to Money Pool | 309,400,000 | |||||||||||||
Average Borrowings from Money Pool | 153,100,000 | |||||||||||||
Average Loans to Money Pool | 85,900,000 | |||||||||||||
Authorized Short Term Borrowing Limit | [34] | $ 820,000,000 | ||||||||||||
Average Interest Rates for Funds Borrowed From and Loaned to Money Pool | ||||||||||||||
Average Interest Rate For Funds Borrowed | 5.16% | 0.93% | ||||||||||||
Average Interest Rate For Funds Loaned | 5.46% | 1.49% | ||||||||||||
AEP Transmission Co [Member] | Utility [Member] | Related Party | ||||||||||||||
Financing Activities (Textuals) | ||||||||||||||
Net Loans To Money Pool | 26,900,000 | $ 26,900,000 | ||||||||||||
AEP Transmission Co [Member] | Direct Borrowing [Member] | ||||||||||||||
Money Pool Participants Money Pool Activity And Authorized Borrowing Limits | ||||||||||||||
Maximum Borrowings from Money Pool | 29,400,000 | |||||||||||||
Maximum Loans to Money Pool | 158,100,000 | |||||||||||||
Average Borrowings from Money Pool | 2,900,000 | |||||||||||||
Average Loans to Money Pool | 70,200,000 | |||||||||||||
Borrowings from Parent | 21,900,000 | 21,900,000 | ||||||||||||
Loans to Parent | $ 0 | 0 | ||||||||||||
Authorized Short Term Borrowing Limit | [35] | $ 50,000,000 | ||||||||||||
Maximum and Minimum Interest Rates | ||||||||||||||
Maximum Interest Rate for Funds Borrowed | 5.69% | 2.11% | ||||||||||||
Minimum Interest Rate For Funds Borrowed | 4.53% | 0.46% | ||||||||||||
Maximum Interest Rate For Funds Loaned | 5.69% | 2.11% | ||||||||||||
Minimum Interest Rate for Funds Loaned | 4.53% | 0.46% | ||||||||||||
Average Interest Rates for Funds Borrowed From and Loaned to Money Pool | ||||||||||||||
Average Interest Rate For Funds Borrowed | 5.27% | 1.02% | ||||||||||||
Average Interest Rate For Funds Loaned | 5.35% | 0.89% | ||||||||||||
AEP Transmission Co [Member] | Senior Unsecured Notes Two [Member] | ||||||||||||||
Long-term Debt and Other Securities Issued, Retired and Principal Payments Made | ||||||||||||||
Proceeds from Issuance of Debt | [3] | $ 700,000,000 | ||||||||||||
Due Date | 2053 | |||||||||||||
Interest Rate (Percentage) | 5.40% | 5.40% | ||||||||||||
Appalachian Power Co [Member] | ||||||||||||||
Long-term Debt | ||||||||||||||
Total Long-term Debt Outstanding | $ 5,599,700,000 | $ 5,599,700,000 | 5,410,500,000 | |||||||||||
Long-term Debt Due Within One Year | 538,300,000 | 538,300,000 | 251,800,000 | |||||||||||
Long-term Debt | 5,061,400,000 | 5,061,400,000 | 5,158,700,000 | |||||||||||
Long-term Debt and Other Securities Issued, Retired and Principal Payments Made | ||||||||||||||
Repayments of Long-term Debt | 13,000,000 | $ 117,100,000 | ||||||||||||
Accounts Receivable and Accrued Unbilled Revenues | ||||||||||||||
Accounts Receivable and Accrued Unbilled Revenues | 181,900,000 | 181,900,000 | 194,400,000 | |||||||||||
Proceeds from Sale of Receivables | ||||||||||||||
Proceeds from Sale of Receivables to AEP Credit | 414,900,000 | 339,000,000 | $ 921,100,000 | 754,500,000 | ||||||||||
Financing Activities (Textuals) | ||||||||||||||
Maximum Percentage Debt to Capitalization | 67.50% | |||||||||||||
Issuance of Long-term Debt | $ 200,000,000 | 103,300,000 | ||||||||||||
Appalachian Power Co [Member] | Related Party | ||||||||||||||
Short-term Debt: | ||||||||||||||
Net Borrowings from Money Pool | 266,100,000 | 266,100,000 | 182,200,000 | |||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 61,100,000 | 63,100,000 | 130,700,000 | 120,000,000 | ||||||||||
Financing Activities (Textuals) | ||||||||||||||
Net Loans To Money Pool | 18,900,000 | 18,900,000 | 19,800,000 | |||||||||||
Appalachian Power Co [Member] | Wholesale Transmission [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 43,900,000 | [21] | 40,800,000 | [22] | 85,300,000 | [23] | 81,900,000 | [24] | ||||||
Appalachian Power Co [Member] | Other Revenues [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 11,800,000 | [25] | 20,600,000 | [26] | 24,800,000 | [27] | 44,900,000 | [28] | ||||||
Appalachian Power Co [Member] | Wholesale Generation [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 64,200,000 | [29] | 63,500,000 | [30] | 144,400,000 | [31] | 119,700,000 | [32] | ||||||
Appalachian Power Co [Member] | Wholesale Generation [Member] | Related Party | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 38,000,000 | 42,000,000 | 85,000,000 | 78,000,000 | ||||||||||
Appalachian Power Co [Member] | Residential [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 324,800,000 | 313,200,000 | 795,300,000 | 771,200,000 | ||||||||||
Appalachian Power Co [Member] | Commercial [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 163,600,000 | 152,600,000 | 334,900,000 | 306,500,000 | ||||||||||
Appalachian Power Co [Member] | Industrial [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 192,500,000 | 161,900,000 | 378,300,000 | [33] | 315,700,000 | |||||||||
Appalachian Power Co [Member] | Other Retail [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 25,200,000 | 20,200,000 | 51,400,000 | 40,800,000 | ||||||||||
Appalachian Power Co [Member] | Retail [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 706,100,000 | 647,900,000 | 1,559,900,000 | 1,434,200,000 | ||||||||||
Appalachian Power Co [Member] | Wholesale and Competitive [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 108,100,000 | 104,300,000 | 229,700,000 | 201,600,000 | ||||||||||
Appalachian Power Co [Member] | Affiliated and Nonaffiliated [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 826,000,000 | 772,800,000 | 1,814,400,000 | 1,680,700,000 | ||||||||||
Appalachian Power Co [Member] | Other Revenues [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 2,900,000 | 5,600,000 | 6,500,000 | 8,900,000 | ||||||||||
Appalachian Power Co [Member] | Servicing Contracts [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 4,300,000 | 1,500,000 | $ 9,200,000 | $ 2,800,000 | ||||||||||
Appalachian Power Co [Member] | Utility [Member] | ||||||||||||||
Maximum Interest Rate | 5.69% | 2.11% | ||||||||||||
Minimum Interest Rate | 4.66% | 0.10% | ||||||||||||
Money Pool Participants Money Pool Activity And Authorized Borrowing Limits | ||||||||||||||
Maximum Borrowings from Money Pool | $ 388,600,000 | |||||||||||||
Maximum Loans to Money Pool | 19,800,000 | |||||||||||||
Average Borrowings from Money Pool | 295,000,000 | |||||||||||||
Average Loans to Money Pool | 18,900,000 | |||||||||||||
Authorized Short Term Borrowing Limit | $ 500,000,000 | |||||||||||||
Average Interest Rates for Funds Borrowed From and Loaned to Money Pool | ||||||||||||||
Average Interest Rate For Funds Borrowed | 5.36% | 1.08% | ||||||||||||
Average Interest Rate For Funds Loaned | 5.35% | 0.95% | ||||||||||||
Appalachian Power Co [Member] | Utility [Member] | Related Party | ||||||||||||||
Short-term Debt: | ||||||||||||||
Net Borrowings from Money Pool | $ (247,200,000) | $ (247,200,000) | ||||||||||||
Appalachian Power Co [Member] | Other Long Term Debt [Member] | ||||||||||||||
Long-term Debt and Other Securities Issued, Retired and Principal Payments Made | ||||||||||||||
Proceeds from Issuance of Debt | [3] | $ 200,000,000 | ||||||||||||
Due Date | 2024 | |||||||||||||
Interest Rate (Variable) | Variable | |||||||||||||
Appalachian Power Co [Member] | Securitization Bonds Three | ||||||||||||||
Long-term Debt and Other Securities Issued, Retired and Principal Payments Made | ||||||||||||||
Repayments of Long-term Debt | $ 9,700,000 | |||||||||||||
Due Date | 2023 | |||||||||||||
Interest Rate (Percentage) | 2.01% | 2.01% | ||||||||||||
Appalachian Power Co [Member] | Securitization Bonds Four | ||||||||||||||
Long-term Debt and Other Securities Issued, Retired and Principal Payments Made | ||||||||||||||
Repayments of Long-term Debt | $ 3,300,000 | |||||||||||||
Due Date | 2028 | |||||||||||||
Interest Rate (Percentage) | 3.77% | 3.77% | ||||||||||||
Indiana Michigan Power Co [Member] | ||||||||||||||
Long-term Debt | ||||||||||||||
Total Long-term Debt Outstanding | $ 3,464,100,000 | $ 3,464,100,000 | 3,260,800,000 | |||||||||||
Long-term Debt Due Within One Year | 74,300,000 | 74,300,000 | 341,800,000 | |||||||||||
Long-term Debt | 3,389,800,000 | 3,389,800,000 | 2,919,000,000 | |||||||||||
Long-term Debt and Other Securities Issued, Retired and Principal Payments Made | ||||||||||||||
Repayments of Long-term Debt | 299,200,000 | $ 40,700,000 | ||||||||||||
Accounts Receivable and Accrued Unbilled Revenues | ||||||||||||||
Accounts Receivable and Accrued Unbilled Revenues | 177,300,000 | 177,300,000 | 166,900,000 | |||||||||||
Proceeds from Sale of Receivables | ||||||||||||||
Proceeds from Sale of Receivables to AEP Credit | 497,200,000 | 502,400,000 | 1,022,600,000 | 1,015,800,000 | ||||||||||
Financing Activities (Textuals) | ||||||||||||||
Trust Fund Assets One Time Fee Obligation for Nuclear Fuel Disposition | 341,000,000 | $ 341,000,000 | 330,000,000 | |||||||||||
Maximum Percentage Debt to Capitalization | 67.50% | |||||||||||||
Issuance of Long-term Debt | $ 494,900,000 | 72,800,000 | ||||||||||||
Indiana Michigan Power Co [Member] | Related Party | ||||||||||||||
Short-term Debt: | ||||||||||||||
Net Borrowings from Money Pool | 0 | 0 | 249,900,000 | |||||||||||
Financing Activities (Textuals) | ||||||||||||||
Net Loans To Money Pool | 40,500,000 | 40,500,000 | 23,000,000 | |||||||||||
Indiana Michigan Power Co [Member] | Wholesale Transmission [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 9,600,000 | [21] | 8,700,000 | [22] | 17,700,000 | [23] | 17,500,000 | [24] | ||||||
Indiana Michigan Power Co [Member] | Other Revenues [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 45,000,000 | [25] | 25,800,000 | [26] | 66,400,000 | [27] | 55,700,000 | [28] | ||||||
Indiana Michigan Power Co [Member] | Other Revenues [Member] | Related Party | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 17,000,000 | |||||||||||||
Indiana Michigan Power Co [Member] | Wholesale Generation [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 63,500,000 | [29] | 94,200,000 | [30] | 167,500,000 | [31] | 184,600,000 | [32] | ||||||
Indiana Michigan Power Co [Member] | Residential [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 185,200,000 | 195,200,000 | 424,800,000 | 427,000,000 | ||||||||||
Indiana Michigan Power Co [Member] | Commercial [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 141,400,000 | 138,600,000 | 280,300,000 | 265,200,000 | ||||||||||
Indiana Michigan Power Co [Member] | Industrial [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 155,900,000 | 160,000,000 | 308,500,000 | [33] | 296,500,000 | |||||||||
Indiana Michigan Power Co [Member] | Other Retail [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 1,200,000 | 1,200,000 | 2,500,000 | 2,500,000 | ||||||||||
Indiana Michigan Power Co [Member] | Retail [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 483,700,000 | 495,000,000 | 1,016,100,000 | 991,200,000 | ||||||||||
Indiana Michigan Power Co [Member] | Wholesale and Competitive [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 73,100,000 | 102,900,000 | 185,200,000 | 202,100,000 | ||||||||||
Indiana Michigan Power Co [Member] | Affiliated and Nonaffiliated [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 601,800,000 | 623,700,000 | 1,267,700,000 | 1,249,000,000 | ||||||||||
Indiana Michigan Power Co [Member] | Other Revenues [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 2,400,000 | 2,800,000 | 5,500,000 | 5,600,000 | ||||||||||
Indiana Michigan Power Co [Member] | Other Revenues [Member] | Related Party | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 19,000,000 | 35,000,000 | 29,000,000 | |||||||||||
Indiana Michigan Power Co [Member] | Servicing Contracts [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 3,900,000 | 2,000,000 | $ 7,800,000 | $ 3,700,000 | ||||||||||
Indiana Michigan Power Co [Member] | Utility [Member] | ||||||||||||||
Maximum Interest Rate | 5.69% | 2.11% | ||||||||||||
Minimum Interest Rate | 4.66% | 0.10% | ||||||||||||
Money Pool Participants Money Pool Activity And Authorized Borrowing Limits | ||||||||||||||
Maximum Borrowings from Money Pool | $ 475,300,000 | |||||||||||||
Maximum Loans to Money Pool | 100,300,000 | |||||||||||||
Average Borrowings from Money Pool | 174,000,000 | |||||||||||||
Average Loans to Money Pool | 43,000,000 | |||||||||||||
Authorized Short Term Borrowing Limit | $ 500,000,000 | |||||||||||||
Average Interest Rates for Funds Borrowed From and Loaned to Money Pool | ||||||||||||||
Average Interest Rate For Funds Borrowed | 5.13% | 0.92% | ||||||||||||
Average Interest Rate For Funds Loaned | 5.42% | 0.96% | ||||||||||||
Indiana Michigan Power Co [Member] | Utility [Member] | Related Party | ||||||||||||||
Financing Activities (Textuals) | ||||||||||||||
Net Loans To Money Pool | $ 40,500,000 | $ 40,500,000 | ||||||||||||
Indiana Michigan Power Co [Member] | Notes Payable, Other Payable Four [Member] | ||||||||||||||
Long-term Debt and Other Securities Issued, Retired and Principal Payments Made | ||||||||||||||
Repayments of Long-term Debt | $ 7,900,000 | |||||||||||||
Due Date | 2025 | |||||||||||||
Interest Rate (Percentage) | 0.93% | 0.93% | ||||||||||||
Indiana Michigan Power Co [Member] | Notes Payable, Other Payable Five [Member] | ||||||||||||||
Long-term Debt and Other Securities Issued, Retired and Principal Payments Made | ||||||||||||||
Repayments of Long-term Debt | $ 13,700,000 | |||||||||||||
Due Date | 2026 | |||||||||||||
Interest Rate (Percentage) | 3.44% | 3.44% | ||||||||||||
Indiana Michigan Power Co [Member] | Notes Payable, Other Payable Six [Member] | ||||||||||||||
Long-term Debt and Other Securities Issued, Retired and Principal Payments Made | ||||||||||||||
Repayments of Long-term Debt | $ 13,600,000 | |||||||||||||
Due Date | 2027 | |||||||||||||
Interest Rate (Percentage) | 5.93% | 5.93% | ||||||||||||
Indiana Michigan Power Co [Member] | OtherLongTermDebtThree | ||||||||||||||
Long-term Debt and Other Securities Issued, Retired and Principal Payments Made | ||||||||||||||
Repayments of Long-term Debt | $ 1,200,000 | |||||||||||||
Due Date | 2025 | |||||||||||||
Interest Rate (Percentage) | 6% | 6% | ||||||||||||
Indiana Michigan Power Co [Member] | Notes Payable, Other Payable Nine | Subsequent Event [Member] | ||||||||||||||
Long-term Debt and Other Securities Issued, Retired and Principal Payments Made | ||||||||||||||
Repayments of Long-term Debt | $ 8,000,000 | |||||||||||||
Indiana Michigan Power Co [Member] | Notes Payable, Other Payable | ||||||||||||||
Long-term Debt and Other Securities Issued, Retired and Principal Payments Made | ||||||||||||||
Repayments of Long-term Debt | $ 1,200,000 | |||||||||||||
Due Date | 2023 | |||||||||||||
Interest Rate (Variable) | Variable | |||||||||||||
Indiana Michigan Power Co [Member] | Notes Payable, Other Payable Two [Member] | ||||||||||||||
Long-term Debt and Other Securities Issued, Retired and Principal Payments Made | ||||||||||||||
Repayments of Long-term Debt | $ 2,400,000 | |||||||||||||
Due Date | 2024 | |||||||||||||
Interest Rate (Variable) | Variable | |||||||||||||
Indiana Michigan Power Co [Member] | Senior Unsecured Notes Four | ||||||||||||||
Long-term Debt and Other Securities Issued, Retired and Principal Payments Made | ||||||||||||||
Proceeds from Issuance of Debt | [3] | $ 500,000,000 | ||||||||||||
Due Date | 2053 | |||||||||||||
Interest Rate (Percentage) | 5.63% | 5.63% | ||||||||||||
Indiana Michigan Power Co [Member] | Notes Payable, Other Payable Three [Member] | ||||||||||||||
Long-term Debt and Other Securities Issued, Retired and Principal Payments Made | ||||||||||||||
Repayments of Long-term Debt | $ 9,200,000 | |||||||||||||
Due Date | 2025 | |||||||||||||
Interest Rate (Variable) | Variable | |||||||||||||
Indiana Michigan Power Co [Member] | Senior Unsecured Notes Nine | ||||||||||||||
Long-term Debt and Other Securities Issued, Retired and Principal Payments Made | ||||||||||||||
Repayments of Long-term Debt | $ 250,000,000 | |||||||||||||
Due Date | 2023 | |||||||||||||
Interest Rate (Percentage) | 3.20% | 3.20% | ||||||||||||
Ohio Power Co [Member] | ||||||||||||||
Long-term Debt | ||||||||||||||
Total Long-term Debt Outstanding | $ 3,365,600,000 | $ 3,365,600,000 | 2,970,300,000 | |||||||||||
Long-term Debt Due Within One Year | 0 | 0 | 100,000 | |||||||||||
Long-term Debt | 3,365,600,000 | 3,365,600,000 | 2,970,200,000 | |||||||||||
Long-term Debt and Other Securities Issued, Retired and Principal Payments Made | ||||||||||||||
Repayments of Long-term Debt | 600,000 | $ 100,000 | ||||||||||||
Accounts Receivable and Accrued Unbilled Revenues | ||||||||||||||
Accounts Receivable and Accrued Unbilled Revenues | 477,400,000 | 477,400,000 | 478,600,000 | |||||||||||
Proceeds from Sale of Receivables | ||||||||||||||
Proceeds from Sale of Receivables to AEP Credit | 783,900,000 | 693,300,000 | 1,668,300,000 | 1,409,900,000 | ||||||||||
Financing Activities (Textuals) | ||||||||||||||
Issuance of Long-term Debt | 395,100,000 | 0 | ||||||||||||
Ohio Power Co [Member] | Related Party | ||||||||||||||
Short-term Debt: | ||||||||||||||
Net Borrowings from Money Pool | 72,300,000 | 72,300,000 | 172,900,000 | |||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 8,200,000 | 3,900,000 | 15,800,000 | 7,600,000 | ||||||||||
Ohio Power Co [Member] | Wholesale Transmission [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 21,000,000 | [21] | 21,100,000 | [22] | 38,900,000 | [23] | 42,900,000 | [24] | ||||||
Ohio Power Co [Member] | Other Revenues [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 45,500,000 | [25] | 60,200,000 | [26] | 78,700,000 | [27] | 104,800,000 | [28] | ||||||
Ohio Power Co [Member] | Wholesale Generation [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 0 | [29] | 0 | [30] | 0 | [31] | 0 | [32] | ||||||
Ohio Power Co [Member] | Residential [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 429,300,000 | 386,700,000 | 955,300,000 | 845,400,000 | ||||||||||
Ohio Power Co [Member] | Commercial [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 257,800,000 | 221,100,000 | 536,300,000 | 415,800,000 | ||||||||||
Ohio Power Co [Member] | Industrial [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 116,800,000 | 126,000,000 | 290,400,000 | [33] | 228,700,000 | |||||||||
Ohio Power Co [Member] | Other Retail [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 3,600,000 | 3,400,000 | 7,400,000 | 6,700,000 | ||||||||||
Ohio Power Co [Member] | Retail [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 807,500,000 | 737,200,000 | 1,789,400,000 | 1,496,600,000 | ||||||||||
Ohio Power Co [Member] | Wholesale and Competitive [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 21,000,000 | 21,100,000 | 38,900,000 | 42,900,000 | ||||||||||
Ohio Power Co [Member] | Affiliated and Nonaffiliated [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 874,000,000 | 818,500,000 | 1,907,000,000 | 1,644,300,000 | ||||||||||
Ohio Power Co [Member] | Other Revenues [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 2,100,000 | 1,800,000 | 7,300,000 | 3,900,000 | ||||||||||
Ohio Power Co [Member] | Servicing Contracts [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 7,600,000 | 7,500,000 | $ 14,900,000 | $ 14,900,000 | ||||||||||
Ohio Power Co [Member] | Utility [Member] | ||||||||||||||
Maximum Interest Rate | 5.69% | 2.11% | ||||||||||||
Minimum Interest Rate | 4.66% | 0.10% | ||||||||||||
Money Pool Participants Money Pool Activity And Authorized Borrowing Limits | ||||||||||||||
Maximum Borrowings from Money Pool | $ 485,700,000 | |||||||||||||
Maximum Loans to Money Pool | 64,700,000 | |||||||||||||
Average Borrowings from Money Pool | 266,400,000 | |||||||||||||
Average Loans to Money Pool | 40,200,000 | |||||||||||||
Authorized Short Term Borrowing Limit | $ 500,000,000 | |||||||||||||
Average Interest Rates for Funds Borrowed From and Loaned to Money Pool | ||||||||||||||
Average Interest Rate For Funds Borrowed | 5.30% | 0.83% | ||||||||||||
Average Interest Rate For Funds Loaned | 5.60% | 1.20% | ||||||||||||
Ohio Power Co [Member] | Utility [Member] | Related Party | ||||||||||||||
Short-term Debt: | ||||||||||||||
Net Borrowings from Money Pool | $ (72,300,000) | $ (72,300,000) | ||||||||||||
Ohio Power Co [Member] | OtherLongTermDebtFour | ||||||||||||||
Long-term Debt and Other Securities Issued, Retired and Principal Payments Made | ||||||||||||||
Repayments of Long-term Debt | $ 600,000 | |||||||||||||
Due Date | 2028 | |||||||||||||
Interest Rate (Percentage) | 1.15% | 1.15% | ||||||||||||
Ohio Power Co [Member] | Senior Unsecured Notes Five | ||||||||||||||
Long-term Debt and Other Securities Issued, Retired and Principal Payments Made | ||||||||||||||
Proceeds from Issuance of Debt | [3] | $ 400,000,000 | ||||||||||||
Due Date | 2033 | |||||||||||||
Interest Rate (Percentage) | 5% | 5% | ||||||||||||
Public Service Co Of Oklahoma [Member] | ||||||||||||||
Long-term Debt | ||||||||||||||
Total Long-term Debt Outstanding | $ 2,383,900,000 | $ 2,383,900,000 | 1,912,800,000 | |||||||||||
Long-term Debt Due Within One Year | 600,000 | 600,000 | 500,000 | |||||||||||
Long-term Debt | 2,383,300,000 | 2,383,300,000 | 1,912,300,000 | |||||||||||
Long-term Debt and Other Securities Issued, Retired and Principal Payments Made | ||||||||||||||
Repayments of Long-term Debt | 300,000 | $ 300,000 | ||||||||||||
Accounts Receivable and Accrued Unbilled Revenues | ||||||||||||||
Accounts Receivable and Accrued Unbilled Revenues | 177,800,000 | 177,800,000 | 155,500,000 | |||||||||||
Proceeds from Sale of Receivables | ||||||||||||||
Proceeds from Sale of Receivables to AEP Credit | 460,200,000 | 428,500,000 | $ 876,500,000 | 791,900,000 | ||||||||||
Financing Activities (Textuals) | ||||||||||||||
Maximum Percentage Debt to Capitalization | 67.50% | |||||||||||||
Issuance of Long-term Debt | $ 469,800,000 | 500,000,000 | ||||||||||||
Public Service Co Of Oklahoma [Member] | Related Party | ||||||||||||||
Short-term Debt: | ||||||||||||||
Net Borrowings from Money Pool | 68,100,000 | 68,100,000 | 364,200,000 | |||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 100,000 | 800,000 | 800,000 | 1,400,000 | ||||||||||
Public Service Co Of Oklahoma [Member] | Wholesale Transmission [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 9,900,000 | [21] | 9,100,000 | [22] | 21,200,000 | [23] | 18,700,000 | [24] | ||||||
Public Service Co Of Oklahoma [Member] | Other Revenues [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 7,200,000 | [25] | 9,600,000 | [26] | 9,500,000 | [27] | 15,000,000 | [28] | ||||||
Public Service Co Of Oklahoma [Member] | Wholesale Generation [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 4,300,000 | [29] | 300,000 | [30] | 5,200,000 | [31] | 9,800,000 | [32] | ||||||
Public Service Co Of Oklahoma [Member] | Residential [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 186,500,000 | 185,200,000 | 357,400,000 | 351,100,000 | ||||||||||
Public Service Co Of Oklahoma [Member] | Commercial [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 131,700,000 | 121,200,000 | 240,800,000 | 218,700,000 | ||||||||||
Public Service Co Of Oklahoma [Member] | Industrial [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 107,800,000 | 92,500,000 | 206,100,000 | [33] | 171,100,000 | |||||||||
Public Service Co Of Oklahoma [Member] | Other Retail [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 28,300,000 | 25,800,000 | 52,500,000 | 47,000,000 | ||||||||||
Public Service Co Of Oklahoma [Member] | Retail [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 454,300,000 | 424,700,000 | 856,800,000 | 787,900,000 | ||||||||||
Public Service Co Of Oklahoma [Member] | Wholesale and Competitive [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 14,200,000 | 9,400,000 | 26,400,000 | 28,500,000 | ||||||||||
Public Service Co Of Oklahoma [Member] | Affiliated and Nonaffiliated [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 475,700,000 | 443,700,000 | 892,700,000 | 831,400,000 | ||||||||||
Public Service Co Of Oklahoma [Member] | Other Revenues [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 2,200,000 | 2,100,000 | 3,700,000 | 2,700,000 | ||||||||||
Public Service Co Of Oklahoma [Member] | Servicing Contracts [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 3,500,000 | 1,300,000 | $ 6,700,000 | $ 2,200,000 | ||||||||||
Public Service Co Of Oklahoma [Member] | Utility [Member] | ||||||||||||||
Maximum Interest Rate | 5.69% | 2.11% | ||||||||||||
Minimum Interest Rate | 4.66% | 0.10% | ||||||||||||
Money Pool Participants Money Pool Activity And Authorized Borrowing Limits | ||||||||||||||
Maximum Borrowings from Money Pool | $ 375,000,000 | |||||||||||||
Maximum Loans to Money Pool | 121,500,000 | |||||||||||||
Average Borrowings from Money Pool | 127,500,000 | |||||||||||||
Average Loans to Money Pool | 74,800,000 | |||||||||||||
Authorized Short Term Borrowing Limit | $ 400,000,000 | |||||||||||||
Average Interest Rates for Funds Borrowed From and Loaned to Money Pool | ||||||||||||||
Average Interest Rate For Funds Borrowed | 5.47% | 1.17% | ||||||||||||
Average Interest Rate For Funds Loaned | 5.11% | 0.65% | ||||||||||||
Public Service Co Of Oklahoma [Member] | Utility [Member] | Related Party | ||||||||||||||
Short-term Debt: | ||||||||||||||
Net Borrowings from Money Pool | $ (68,100,000) | $ (68,100,000) | ||||||||||||
Public Service Co Of Oklahoma [Member] | Other Long Term Debt Five | ||||||||||||||
Long-term Debt and Other Securities Issued, Retired and Principal Payments Made | ||||||||||||||
Repayments of Long-term Debt | $ 300,000 | |||||||||||||
Due Date | 2027 | |||||||||||||
Interest Rate (Percentage) | 3% | 3% | ||||||||||||
Public Service Co Of Oklahoma [Member] | Senior Unsecured Notes Six | ||||||||||||||
Long-term Debt and Other Securities Issued, Retired and Principal Payments Made | ||||||||||||||
Proceeds from Issuance of Debt | [3] | $ 475,000,000 | ||||||||||||
Due Date | 2033 | |||||||||||||
Interest Rate (Percentage) | 5.25% | 5.25% | ||||||||||||
Southwestern Electric Power Co [Member] | ||||||||||||||
Long-term Debt | ||||||||||||||
Total Long-term Debt Outstanding | $ 3,645,600,000 | $ 3,645,600,000 | 3,391,600,000 | |||||||||||
Long-term Debt Due Within One Year | 0 | 0 | 6,200,000 | |||||||||||
Long-term Debt | 3,645,600,000 | 3,645,600,000 | 3,385,400,000 | |||||||||||
Long-term Debt and Other Securities Issued, Retired and Principal Payments Made | ||||||||||||||
Repayments of Long-term Debt | 94,100,000 | $ 3,100,000 | ||||||||||||
Short-term Debt: | ||||||||||||||
Notes Payable | 3,900,000 | 3,900,000 | 0 | |||||||||||
Accounts Receivable and Accrued Unbilled Revenues | ||||||||||||||
Accounts Receivable and Accrued Unbilled Revenues | 191,600,000 | 191,600,000 | 194,000,000 | |||||||||||
Proceeds from Sale of Receivables | ||||||||||||||
Proceeds from Sale of Receivables to AEP Credit | 460,500,000 | 437,200,000 | $ 898,100,000 | 831,700,000 | ||||||||||
Financing Activities (Textuals) | ||||||||||||||
Maximum Percentage Debt to Capitalization | 67.50% | |||||||||||||
Issuance of Long-term Debt | $ 346,800,000 | 0 | ||||||||||||
Southwestern Electric Power Co [Member] | Related Party | ||||||||||||||
Short-term Debt: | ||||||||||||||
Net Borrowings from Money Pool | 32,600,000 | 32,600,000 | 310,700,000 | |||||||||||
Financing Activities (Textuals) | ||||||||||||||
Net Loans To Money Pool | 2,200,000 | 2,200,000 | $ 2,100,000 | |||||||||||
Southwestern Electric Power Co [Member] | Wholesale Transmission [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 38,300,000 | [21] | 39,300,000 | [22] | 81,200,000 | [23] | 74,500,000 | [24] | ||||||
Southwestern Electric Power Co [Member] | Other Revenues [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 7,000,000 | [25] | 6,000,000 | [26] | 14,900,000 | [27] | 11,300,000 | [28] | ||||||
Southwestern Electric Power Co [Member] | Wholesale Generation [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 43,900,000 | [29] | 57,400,000 | [30] | 83,500,000 | [31] | 118,600,000 | [32] | ||||||
Southwestern Electric Power Co [Member] | Residential [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 185,100,000 | 188,600,000 | 361,000,000 | 364,500,000 | ||||||||||
Southwestern Electric Power Co [Member] | Commercial [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 153,800,000 | 146,000,000 | 297,300,000 | 276,500,000 | ||||||||||
Southwestern Electric Power Co [Member] | Industrial [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 110,600,000 | 97,100,000 | 214,800,000 | [33] | 181,800,000 | |||||||||
Southwestern Electric Power Co [Member] | Other Retail [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 2,600,000 | 4,400,000 | 5,200,000 | 6,800,000 | ||||||||||
Southwestern Electric Power Co [Member] | Retail [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 452,100,000 | 436,100,000 | 878,300,000 | 829,600,000 | ||||||||||
Southwestern Electric Power Co [Member] | Wholesale and Competitive [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 82,200,000 | 96,700,000 | 164,700,000 | 193,100,000 | ||||||||||
Southwestern Electric Power Co [Member] | Affiliated and Nonaffiliated [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 541,300,000 | 538,800,000 | 1,057,900,000 | 1,034,000,000 | ||||||||||
Southwestern Electric Power Co [Member] | Other Revenues [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 800,000 | 400,000 | 1,300,000 | 1,000,000 | ||||||||||
Southwestern Electric Power Co [Member] | Servicing Contracts [Member] | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | ||||||||||||||
Fees Paid to AEP Credit for Customer Accounts Receivable Sold | 4,400,000 | 1,500,000 | $ 8,700,000 | $ 2,800,000 | ||||||||||
Southwestern Electric Power Co [Member] | Utility [Member] | ||||||||||||||
Maximum Interest Rate | 5.69% | 2.11% | ||||||||||||
Minimum Interest Rate | 4.66% | 0.10% | ||||||||||||
Money Pool Participants Money Pool Activity And Authorized Borrowing Limits | ||||||||||||||
Maximum Borrowings from Money Pool | [36] | $ 401,600,000 | ||||||||||||
Maximum Loans to Money Pool | 0 | |||||||||||||
Average Borrowings from Money Pool | 220,600,000 | |||||||||||||
Average Loans to Money Pool | 0 | |||||||||||||
Authorized Short Term Borrowing Limit | $ 400,000,000 | |||||||||||||
Average Interest Rates for Funds Borrowed From and Loaned to Money Pool | ||||||||||||||
Average Interest Rate For Funds Borrowed | 5.22% | 1.25% | ||||||||||||
Average Interest Rate For Funds Loaned | 0% | 0.55% | ||||||||||||
Financing Activities (Textuals) | ||||||||||||||
Amount Exceeding Maximum Borrowings from Money Pool | $ 1,600,000 | |||||||||||||
Southwestern Electric Power Co [Member] | Utility [Member] | Related Party | ||||||||||||||
Short-term Debt: | ||||||||||||||
Net Borrowings from Money Pool | (32,600,000) | $ (32,600,000) | ||||||||||||
Southwestern Electric Power Co [Member] | Nonutility [Member] | ||||||||||||||
Money Pool Participants Money Pool Activity And Authorized Borrowing Limits | ||||||||||||||
Maximum Loans to Money Pool | 2,200,000 | |||||||||||||
Average Loans to Money Pool | $ 2,100,000 | |||||||||||||
Maximum and Minimum Interest Rates | ||||||||||||||
Maximum Interest Rate For Funds Loaned | 5.69% | 2.11% | ||||||||||||
Minimum Interest Rate for Funds Loaned | 4.66% | 0.46% | ||||||||||||
Average Interest Rates for Funds Borrowed From and Loaned to Money Pool | ||||||||||||||
Average Interest Rate For Funds Loaned | 5.35% | 0.98% | ||||||||||||
Southwestern Electric Power Co [Member] | Nonutility [Member] | Related Party | ||||||||||||||
Financing Activities (Textuals) | ||||||||||||||
Net Loans To Money Pool | $ 2,200,000 | $ 2,200,000 | ||||||||||||
Southwestern Electric Power Co [Member] | Notes Payable, Other Payable Seven [Member] | ||||||||||||||
Long-term Debt and Other Securities Issued, Retired and Principal Payments Made | ||||||||||||||
Repayments of Long-term Debt | $ 25,000,000 | |||||||||||||
Due Date | 2024 | |||||||||||||
Interest Rate (Percentage) | 6.37% | 6.37% | ||||||||||||
Southwestern Electric Power Co [Member] | Notes Payable, Other Payable Eight [Member] | ||||||||||||||
Long-term Debt and Other Securities Issued, Retired and Principal Payments Made | ||||||||||||||
Repayments of Long-term Debt | $ 30,900,000 | |||||||||||||
Due Date | 2032 | |||||||||||||
Interest Rate (Percentage) | 4.58% | 4.58% | ||||||||||||
Southwestern Electric Power Co [Member] | Other Long Term Debt Six | ||||||||||||||
Long-term Debt and Other Securities Issued, Retired and Principal Payments Made | ||||||||||||||
Repayments of Long-term Debt | $ 38,200,000 | |||||||||||||
Due Date | 2028 | |||||||||||||
Interest Rate (Percentage) | 4.68% | 4.68% | ||||||||||||
Southwestern Electric Power Co [Member] | Senior Unsecured Notes Seven | ||||||||||||||
Long-term Debt and Other Securities Issued, Retired and Principal Payments Made | ||||||||||||||
Proceeds from Issuance of Debt | [3] | $ 350,000,000 | ||||||||||||
Due Date | 2033 | |||||||||||||
Interest Rate (Percentage) | 5.30% | 5.30% | ||||||||||||
Southwestern Electric Power Co [Member] | Loans Payable [Member] | ||||||||||||||
Short-term Debt: | ||||||||||||||
Weighted Average Interest Rate | [5] | 7.53% | 7.53% | 0% | ||||||||||
Transource Energy [Member] | Other Long Term Debt Two [Member] | ||||||||||||||
Long-term Debt and Other Securities Issued, Retired and Principal Payments Made | ||||||||||||||
Proceeds from Issuance of Debt | [3] | $ 13,000,000 | ||||||||||||
Due Date | 2025 | |||||||||||||
Interest Rate (Variable) | Variable | |||||||||||||
Transource Energy [Member] | Senior Unsecured Notes Ten | ||||||||||||||
Long-term Debt and Other Securities Issued, Retired and Principal Payments Made | ||||||||||||||
Repayments of Long-term Debt | $ 1,300,000 | |||||||||||||
Due Date | 2050 | |||||||||||||
Interest Rate (Percentage) | 2.75% | 2.75% | ||||||||||||
Kentucky Power Co [Member] | Pollution Control Bond [Member] | ||||||||||||||
Long-term Debt and Other Securities Issued, Retired and Principal Payments Made | ||||||||||||||
Proceeds from Issuance of Debt | [3] | $ 65,000,000 | ||||||||||||
Due Date | 2026 | |||||||||||||
Interest Rate (Percentage) | 4.70% | 4.70% | ||||||||||||
Kentucky Power Co [Member] | Pollution Control Bond Two [Member] | ||||||||||||||
Long-term Debt and Other Securities Issued, Retired and Principal Payments Made | ||||||||||||||
Repayments of Long-term Debt | $ 65,000,000 | |||||||||||||
Due Date | 2023 | |||||||||||||
Interest Rate (Percentage) | 2.35% | 2.35% | ||||||||||||
Maximum [Member] | 2020 Equity Units [Member] | ||||||||||||||
Financing Activities (Textuals) | ||||||||||||||
AEP Share Price for Equity Unit Conversion | $ 99.95 | $ 99.95 | ||||||||||||
Shares Per Equity Unit | 0.5003 | 0.5003 | ||||||||||||
Minimum [Member] | 2020 Equity Units [Member] | ||||||||||||||
Financing Activities (Textuals) | ||||||||||||||
AEP Share Price for Equity Unit Conversion | $ 83.29 | $ 83.29 | ||||||||||||
Shares Per Equity Unit | 0.6003 | 0.6003 | ||||||||||||
Additional Paid-in Capital [Member] | ||||||||||||||
Financing Activities (Textuals) | ||||||||||||||
Forward Equity Purchase Contract Included in Current and Noncurrent Liabilities as of September 30, | $ (3,300,000) | $ 12,700,000 | $ (17,200,000) | $ 15,200,000 | ||||||||||
Additional Paid-in Capital [Member] | 2020 Equity Units [Member] | ||||||||||||||
Financing Activities (Textuals) | ||||||||||||||
Forward Equity Purchase Contract Included in Current and Noncurrent Liabilities as of September 30, | $ 121,000,000 | |||||||||||||
[1]Pursuant to the Nuclear Waste Policy Act of 1982, I&M, a nuclear licensee, has an obligation to the United States Department of Energy for SNF disposal. The obligation includes a one-time fee for nuclear fuel consumed prior to April 7, 1983. Trust fund assets related to this obligation were $341 million and $330 million as of June 30, 2023 and December 31, 2022, respectively, and are included in Spent Nuclear Fuel and Decommissioning Trusts on the balance sheets.[2]See “Equity Units” section below for additional information.[3]Amounts indicated on the statements of cash flows are net of issuance costs and premium or discount and will not tie to the issuance amounts.[4]Amount of securitized debt for receivables as accounted for under the “Transfers and Servicing” accounting guidance.[5]Weighted-average rate as of June 30, 2023 and December 31, 2022, respectively.[6]Corporate and Other primarily includes the purchasing of receivables from certain AEP utility subsidiaries. This segment also includes Parent’s guarantee revenue received from affiliates, investment income, interest income, interest expense and other nonallocated costs.[7]Amounts include affiliated and nonaffiliated revenues. The affiliated revenue for AEP Transmission Holdco was $360 million. The remaining affiliated amounts were immaterial.[8]Amounts include affiliated and nonaffiliated revenues. The affiliated revenue for AEP Transmission Holdco was $334 million. The remaining affiliated amounts were immaterial.[9]Amounts include affiliated and nonaffiliated revenues. The affiliated revenue for AEP Transmission Holdco was $712 million. The affiliated revenue for Vertically Integrated Utilities was $80 million. The remaining affiliated amounts were immaterial.[10]Amounts include affiliated and nonaffiliated revenues. The affiliated revenue for AEP Transmission Holdco was $661 million. The remaining affiliated amounts were immaterial.[11]Amounts include affiliated and nonaffiliated revenues. The affiliated revenue for Corporate and Other was $26 million. The remaining affiliated amounts were immaterial.[12]Amounts include affiliated and nonaffiliated revenues. The affiliated revenue for Vertically Integrated Utilities was $5 million. The remaining affiliated amounts were immaterial.[13]Amounts include affiliated and nonaffiliated revenues. The affiliated revenue for Corporate and Other was $55 million. The remaining affiliated amounts were immaterial.[14]Amounts include affiliated and nonaffiliated revenues. The affiliated revenue for Corporate and Other was $19 million. The remaining affiliated amounts were immaterial.[15]Amounts include affiliated and nonaffiliated revenues.[16]Amounts include affiliated and nonaffiliated revenues.[17]Amounts include affiliated and nonaffiliated revenues[18]Amounts include affiliated and nonaffiliated revenues.[19]Amounts include affiliated and nonaffiliated revenues. The affiliated revenue for Generation & Marketing was $10 million. The remaining affiliated amounts were immaterial.[20]Amounts include affiliated and nonaffiliated revenues. The affiliated revenue for Generation & Marketing was $11 million. The remaining affiliated amounts were immaterial.[21]Amounts include affiliated and nonaffiliated revenues. The affiliated revenue for AEPTCo was $357 million. The remaining affiliated amounts were immaterial.[22]Amounts include affiliated and nonaffiliated revenues. The affiliated revenue for AEPTCo was $330 million. The remaining affiliated amounts were immaterial.[23]Amounts include affiliated and nonaffiliated revenues. The affiliated revenue for AEPTCo was $706 million. The remaining affiliated amounts were immaterial.[24]Amounts include affiliated and nonaffiliated revenues. The affiliated revenue for AEPTCo was $653 million. The remaining affiliated amounts were immaterial.[25]Amounts include affiliated and nonaffiliated revenues. The affiliated revenue for I&M was $17 million primarily related to barging, urea transloading and other transportation services. The remaining affiliated amounts were immaterial.[26]Amounts include affiliated and nonaffiliated revenues. The affiliated revenue for I&M was $19 million primarily related to barging, urea transloading and other transportation services. The remaining affiliated amounts were immaterial.[27]Amounts include affiliated and nonaffiliated revenues. The affiliated revenue for I&M was $35 million primarily relating to barging, urea transloading and other transportation services. The remaining affiliated amounts were immaterial.[28]Amounts include affiliated and nonaffiliated revenues. The affiliated revenue for I&M was $29 million primarily relating to barging, urea transloading and other transportation services. The remaining affiliated amounts were immaterial.[29]Amounts include affiliated and nonaffiliated revenues. The affiliated revenue for APCo was $38 million primarily related to the PPA with KGPCo.[30]Amounts include affiliated and nonaffiliated revenues. The affiliated revenue for APCo was $42 million primarily related to the PPA with KGPCo.[31]Amounts include affiliated and nonaffiliated revenues. The affiliated revenue for APCo was $85 million primarily relating to the PPA with KGPCo. The remaining affiliated amounts were immaterial.[32]Amounts include affiliated and nonaffiliated revenues. The affiliated revenue for APCo was $78 million primarily relating to the PPA with KGPCo.[33]Amounts include affiliated and nonaffiliated revenues.[34](a) Amount represents the combined authorized short-term borrowing limit the State Transcos have from FERC or state regulatory commissions.[35](a) Amount represents the combined authorized short-term borrowing limit the State Transcos have from FERC or state regulatory commissions.[36]SWEPCo’s maximum borrowings from the Utility Money Pool exceeded the authorized short-term borrowing limit by $1.6 million on March 15, 2023. On March 16, 2023, SWEPCo’s borrowings from the Utility Money Pool were reduced below the $400 million authorized limit and borrowings have continued to remain below the authorized limit. |
Variable Interest Entities (Det
Variable Interest Entities (Details) - USD ($) $ in Millions | Jun. 30, 2023 | Mar. 31, 2023 | Dec. 31, 2022 | Jun. 30, 2022 | Mar. 31, 2022 | Dec. 31, 2021 | ||
ASSETS | ||||||||
Current Assets | $ 8,041.3 | $ 6,775.5 | ||||||
Net Property, Plant and Equipment | 74,681.4 | 73,339.1 | ||||||
Other Noncurrent Assets | 13,279.4 | 13,288.7 | ||||||
Total Assets | 96,002.1 | [1] | 93,403.3 | |||||
LIABILITIES AND EQUITY | ||||||||
Current Liabilities | 13,267.1 | 13,266.3 | ||||||
Noncurrent Liabilities | 58,546.7 | 55,968.7 | ||||||
Equity | 24,123.6 | $ 23,967.8 | 24,122.4 | $ 24,297 | $ 24,038.1 | $ 22,680.2 | ||
Total Liabilities and Equity | 96,002.1 | 93,403.3 | ||||||
Southwestern Electric Power Co [Member] | ||||||||
ASSETS | ||||||||
Current Assets | 612.1 | 812.2 | ||||||
Net Property, Plant and Equipment | 8,472.9 | 8,262.2 | ||||||
Other Noncurrent Assets | 1,461.1 | 1,304.4 | ||||||
Total Assets | 10,546.1 | 10,378.8 | ||||||
LIABILITIES AND EQUITY | ||||||||
Current Liabilities | 784.7 | 947.7 | ||||||
Noncurrent Liabilities | 5,965.9 | 5,756.3 | ||||||
Equity | 3,795.5 | 3,765.2 | 3,674.8 | 3,611.1 | 3,543.8 | 3,149.8 | ||
Total Liabilities and Equity | 10,546.1 | 10,378.8 | ||||||
Indiana Michigan Power Co [Member] | ||||||||
ASSETS | ||||||||
Current Assets | 584.1 | 571.8 | ||||||
Net Property, Plant and Equipment | 7,482.7 | 7,411.5 | ||||||
Other Noncurrent Assets | 4,373.4 | 4,135.6 | ||||||
Total Assets | 12,440.2 | 12,118.9 | ||||||
LIABILITIES AND EQUITY | ||||||||
Current Liabilities | 678.2 | 1,197.1 | ||||||
Noncurrent Liabilities | 8,641.3 | 7,913.5 | ||||||
Equity | 3,120.7 | 3,077.3 | 3,008.3 | 2,893.3 | 2,849.5 | 2,784.7 | ||
Total Liabilities and Equity | 12,440.2 | 12,118.9 | ||||||
AEP Texas Inc. [Member] | ||||||||
ASSETS | ||||||||
Current Assets | 487.2 | 446.9 | ||||||
Net Property, Plant and Equipment | 12,314.7 | 11,681.6 | ||||||
Other Noncurrent Assets | 812.5 | 763.7 | ||||||
Total Assets | 13,614.4 | 12,892.2 | ||||||
LIABILITIES AND EQUITY | ||||||||
Current Liabilities | 923.7 | 1,043.8 | ||||||
Noncurrent Liabilities | 8,356.1 | 7,944.1 | ||||||
Equity | 4,334.6 | 4,051.3 | 3,904.3 | 3,755.6 | 3,664.1 | 3,594.2 | ||
Total Liabilities and Equity | 13,614.4 | 12,892.2 | ||||||
Appalachian Power Co [Member] | ||||||||
ASSETS | ||||||||
Current Assets | 1,392.6 | 1,259.6 | ||||||
Net Property, Plant and Equipment | 12,674 | 12,379.2 | ||||||
Other Noncurrent Assets | 1,391.4 | 1,583.4 | ||||||
Total Assets | 15,458 | 15,222.2 | ||||||
LIABILITIES AND EQUITY | ||||||||
Current Liabilities | 1,604 | 1,390.2 | ||||||
Noncurrent Liabilities | 8,720.9 | 8,856.6 | ||||||
Equity | 5,133.1 | $ 5,086.9 | 4,975.4 | $ 4,821.1 | $ 4,748 | $ 4,647.9 | ||
Total Liabilities and Equity | 15,458 | 15,222.2 | ||||||
Sabine Mining Co [Member] | Variable Interest Entities [Member] | Southwestern Electric Power Co [Member] | ||||||||
ASSETS | ||||||||
Current Assets | 5.8 | 108.3 | ||||||
Net Property, Plant and Equipment | 0 | 7.2 | ||||||
Other Noncurrent Assets | 129.7 | 130 | ||||||
Total Assets | 135.5 | 245.5 | ||||||
LIABILITIES AND EQUITY | ||||||||
Current Liabilities | 19.8 | 25.4 | ||||||
Noncurrent Liabilities | 115.6 | 219.4 | ||||||
Equity | 0.1 | 0.7 | ||||||
Total Liabilities and Equity | 135.5 | 245.5 | ||||||
DCC Fuel [Member] | Variable Interest Entities [Member] | Indiana Michigan Power Co [Member] | ||||||||
ASSETS | ||||||||
Current Assets | 72.5 | 90.2 | ||||||
Net Property, Plant and Equipment | 129.3 | 179.1 | ||||||
Other Noncurrent Assets | 63.6 | 94 | ||||||
Total Assets | 265.4 | 363.3 | ||||||
LIABILITIES AND EQUITY | ||||||||
Current Liabilities | 72.4 | 90 | ||||||
Noncurrent Liabilities | 193 | 273.3 | ||||||
Equity | 0 | 0 | ||||||
Total Liabilities and Equity | 265.4 | 363.3 | ||||||
AEP Texas Central Transition Funding Co [Member] | AEP Texas Inc. [Member] | Other Noncurrent Assets [Member] | ||||||||
LIABILITIES AND EQUITY | ||||||||
Unearned Revenue | 12 | 16 | ||||||
AEP Texas Central Transition Funding Co [Member] | Variable Interest Entities [Member] | AEP Texas Inc. [Member] | ||||||||
ASSETS | ||||||||
Current Assets | 26.9 | 27 | ||||||
Net Property, Plant and Equipment | 0 | 0 | ||||||
Other Noncurrent Assets | 109.5 | [2] | 140.9 | [3] | ||||
Total Assets | 136.4 | 167.9 | ||||||
LIABILITIES AND EQUITY | ||||||||
Current Liabilities | 74.5 | 73.2 | ||||||
Noncurrent Liabilities | 57.5 | 90.4 | ||||||
Equity | 4.4 | 4.3 | ||||||
Total Liabilities and Equity | 136.4 | 167.9 | ||||||
Restoration Funding [Member] | AEP Texas Inc. [Member] | Other Noncurrent Assets [Member] | ||||||||
LIABILITIES AND EQUITY | ||||||||
Unearned Revenue | 7 | 7 | ||||||
Restoration Funding [Member] | Variable Interest Entities [Member] | AEP Texas Inc. [Member] | ||||||||
ASSETS | ||||||||
Current Assets | 25.4 | 21.1 | ||||||
Net Property, Plant and Equipment | 0 | 0 | ||||||
Other Noncurrent Assets | 157.2 | [4] | 168.8 | [5] | ||||
Total Assets | 182.6 | 189.9 | ||||||
LIABILITIES AND EQUITY | ||||||||
Current Liabilities | 36.7 | 31.3 | ||||||
Noncurrent Liabilities | 144.7 | 157.4 | ||||||
Equity | 1.2 | 1.2 | ||||||
Total Liabilities and Equity | 182.6 | 189.9 | ||||||
Appalachian Consumer Rate Relief Funding [Member] | Appalachian Power Co [Member] | Other Noncurrent Assets [Member] | ||||||||
LIABILITIES AND EQUITY | ||||||||
Unearned Revenue | 2 | 2 | ||||||
Appalachian Consumer Rate Relief Funding [Member] | Variable Interest Entities [Member] | Appalachian Power Co [Member] | ||||||||
ASSETS | ||||||||
Current Assets | 13.3 | 13.5 | ||||||
Net Property, Plant and Equipment | 0 | 0 | ||||||
Other Noncurrent Assets | 151.8 | [6] | 164.6 | [7] | ||||
Total Assets | 165.1 | 178.1 | ||||||
LIABILITIES AND EQUITY | ||||||||
Current Liabilities | 29.6 | 29.3 | ||||||
Noncurrent Liabilities | 133.6 | 146.9 | ||||||
Equity | 1.9 | 1.9 | ||||||
Total Liabilities and Equity | 165.1 | 178.1 | ||||||
AEP Credit, Inc. [Member] | Variable Interest Entities [Member] | ||||||||
ASSETS | ||||||||
Current Assets | 1,186 | 1,181 | ||||||
Net Property, Plant and Equipment | 0 | 0 | ||||||
Other Noncurrent Assets | 9.4 | 9 | ||||||
Total Assets | 1,195.4 | 1,190 | ||||||
LIABILITIES AND EQUITY | ||||||||
Current Liabilities | 1,132.8 | 1,087.8 | ||||||
Noncurrent Liabilities | 0.9 | 0.9 | ||||||
Equity | 61.7 | 101.3 | ||||||
Total Liabilities and Equity | 1,195.4 | 1,190 | ||||||
Protected Cell Of Energy Insurance Services, Inc. [Member] | Variable Interest Entities [Member] | ||||||||
ASSETS | ||||||||
Current Assets | 195.1 | 194.5 | ||||||
Net Property, Plant and Equipment | 0 | 0 | ||||||
Other Noncurrent Assets | 0 | 0.3 | ||||||
Total Assets | 195.1 | 194.8 | ||||||
LIABILITIES AND EQUITY | ||||||||
Current Liabilities | 39.7 | 46.4 | ||||||
Noncurrent Liabilities | 81.9 | 79.1 | ||||||
Equity | 73.5 | 69.3 | ||||||
Total Liabilities and Equity | 195.1 | 194.8 | ||||||
Transource Energy [Member] | Variable Interest Entities [Member] | ||||||||
ASSETS | ||||||||
Current Assets | 29.3 | 23.5 | ||||||
Net Property, Plant and Equipment | 496.6 | 482.3 | ||||||
Other Noncurrent Assets | 5.3 | 2.7 | ||||||
Total Assets | 531.2 | 508.5 | ||||||
LIABILITIES AND EQUITY | ||||||||
Current Liabilities | 21.1 | 22.8 | ||||||
Noncurrent Liabilities | 232 | 218.6 | ||||||
Equity | 278.1 | 267.1 | ||||||
Total Liabilities and Equity | $ 531.2 | 508.5 | ||||||
Apple Blossom and Black Oak [Member] | Variable Interest Entities [Member] | ||||||||
ASSETS | ||||||||
Current Assets | 8.3 | |||||||
Net Property, Plant and Equipment | 216.5 | |||||||
Other Noncurrent Assets | 13.6 | |||||||
Total Assets | 238.4 | |||||||
LIABILITIES AND EQUITY | ||||||||
Current Liabilities | 4.5 | |||||||
Noncurrent Liabilities | 5.4 | |||||||
Equity | 228.5 | |||||||
Total Liabilities and Equity | 238.4 | |||||||
Santa Rita East [Member] | Variable Interest Entities [Member] | ||||||||
ASSETS | ||||||||
Current Assets | 21.3 | |||||||
Net Property, Plant and Equipment | 421.6 | |||||||
Other Noncurrent Assets | 0.1 | |||||||
Total Assets | 443 | |||||||
LIABILITIES AND EQUITY | ||||||||
Current Liabilities | 9.6 | |||||||
Noncurrent Liabilities | 7.3 | |||||||
Equity | 426.1 | |||||||
Total Liabilities and Equity | 443 | |||||||
Dry Lake Solar Project [Member] | Variable Interest Entities [Member] | ||||||||
ASSETS | ||||||||
Current Assets | 4 | |||||||
Net Property, Plant and Equipment | 142.6 | |||||||
Other Noncurrent Assets | 0.3 | |||||||
Total Assets | 146.9 | |||||||
LIABILITIES AND EQUITY | ||||||||
Current Liabilities | 1 | |||||||
Noncurrent Liabilities | 0.7 | |||||||
Equity | 145.2 | |||||||
Total Liabilities and Equity | $ 146.9 | |||||||
[1]Amount includes Assets Held for Sale on the balance sheet. See “Planned Disposition of the Competitive Contracted Renewables Portfolio” section of Note 6 for additional information.[2]Includes an intercompany item eliminated in consolidation of $12 million.[3] Includes an intercompany item eliminated in consolidation of $16 million . Includes an intercompany item eliminated in consolidation of $7 million . Includes an intercompany item eliminated in consolidation of $2 million . Includes an intercompany item eliminated in consolidation of $2 million |
Revenue from Contracts with C_3
Revenue from Contracts with Customers (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||||||||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | Dec. 31, 2022 | ||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | $ 4,372.5 | $ 4,639.7 | $ 9,063.4 | $ 9,232.3 | ||||||
Revenues | 4,372.5 | 4,639.7 | 9,063.4 | 9,232.3 | ||||||
Revenue, Performance Obligation | ||||||||||
Fixed Performance Obligations | 403 | 403 | ||||||||
Related Party | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 0 | 0 | 0 | 0 | ||||||
Retail [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 3,459.2 | 3,367.4 | 7,247.6 | 6,736.3 | ||||||
Residential [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 1,536.1 | 1,540.9 | 3,363.3 | 3,292.3 | ||||||
Commercial [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 1,001 | 956.5 | 2,010.3 | 1,819.1 | ||||||
Industrial [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 850.9 | 804.3 | 1,733.9 | [1] | 1,500.2 | |||||
Other Retail [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 71.2 | 65.7 | 140.1 | 124.7 | ||||||
Wholesale and Competitive [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 940.5 | 1,077.3 | 1,917.6 | 2,022.3 | ||||||
Wholesale Generation [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 161.1 | 271.4 | 376.3 | 498.9 | ||||||
Wholesale Transmission [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 350.6 | [2] | 363.3 | [3] | 677.8 | [4] | 676.2 | [5] | ||
Renewable Generation [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 30 | [6] | 35.3 | [7] | 51.2 | [1] | 56.9 | [8] | ||
Retail, Trading and Marketing Revenues [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 398.8 | [6] | 407.3 | [7] | 812.3 | [9] | 790.3 | [10] | ||
Other Revenues [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 117.2 | [11] | 116.7 | [12] | 182.5 | [13] | 235.8 | [14] | ||
Affiliated and Nonaffiliated [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 4,516.9 | 4,561.4 | 9,347.7 | 8,994.4 | ||||||
Alternative and Other [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenues | (144.4) | 78.3 | (284.3) | 237.9 | ||||||
Alternative [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenues | (15.6) | [6],[15] | (57.4) | [7],[16] | (25.6) | [1],[17] | (63.2) | [8],[18] | ||
Other Revenues [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 94.5 | 93.5 | 186.9 | 187.6 | ||||||
Revenues | (128.8) | [6] | 135.7 | [7],[19] | (258.7) | [1],[20] | 301.1 | [8],[21] | ||
2023 [Member] | ||||||||||
Revenue, Performance Obligation | ||||||||||
Fixed Performance Obligations | 43.6 | 43.6 | ||||||||
2024-2025[Member] | ||||||||||
Revenue, Performance Obligation | ||||||||||
Fixed Performance Obligations | 161.4 | 161.4 | ||||||||
2026-2027 [Member] | ||||||||||
Revenue, Performance Obligation | ||||||||||
Fixed Performance Obligations | 137.1 | 137.1 | ||||||||
After 2027 | ||||||||||
Revenue, Performance Obligation | ||||||||||
Fixed Performance Obligations | 60.9 | 60.9 | ||||||||
AEP Texas Inc. [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenues | 461.2 | 478.8 | 890.7 | 895.5 | ||||||
AEP Texas Inc. [Member] | Related Party | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 1.3 | 0.8 | 2.5 | 1.7 | ||||||
Revenue Textuals | ||||||||||
Affiliated Companies - Contracts with Customers | 22.9 | 22.9 | $ 11.9 | |||||||
AEP Texas Inc. [Member] | Retail [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 289.4 | 331.6 | 565 | 607.2 | ||||||
AEP Texas Inc. [Member] | Residential [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 144.9 | 174.9 | 275.6 | 316.8 | ||||||
AEP Texas Inc. [Member] | Commercial [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 100.6 | 110.6 | 197.9 | 205.5 | ||||||
AEP Texas Inc. [Member] | Industrial [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 35.2 | 36.6 | 74.5 | [22] | 67.2 | |||||
AEP Texas Inc. [Member] | Other Retail [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 8.7 | 9.5 | 17 | 17.7 | ||||||
AEP Texas Inc. [Member] | Wholesale and Competitive [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 163.1 | 143.8 | 309.4 | 276.9 | ||||||
AEP Texas Inc. [Member] | Wholesale Generation [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 0 | [23] | 0 | [24] | 0 | [25] | 0 | [26] | ||
AEP Texas Inc. [Member] | Wholesale Transmission [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 163.1 | [27] | 143.8 | [28] | 309.4 | [29] | 276.9 | [30] | ||
AEP Texas Inc. [Member] | Other Revenues [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 10.7 | [31] | 5.6 | [32] | 20.4 | [33] | 14.9 | [34] | ||
AEP Texas Inc. [Member] | Affiliated and Nonaffiliated [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 463.2 | 481 | 894.8 | 899 | ||||||
AEP Texas Inc. [Member] | Alternative and Other [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenues | (2) | (2.2) | (4.1) | (3.5) | ||||||
AEP Texas Inc. [Member] | Alternative [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenues | (2) | [35],[36] | (2.2) | [37],[38] | (4.1) | [22],[39] | (3.5) | [40],[41] | ||
AEP Texas Inc. [Member] | Other Revenues [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 0.5 | 1.1 | 1.1 | 2.2 | ||||||
Revenues | 0 | [36] | 0 | [38] | 0 | [22] | 0 | [41] | ||
AEP Texas Inc. [Member] | Short-term Contract with Customer [Member] | Related Party | ||||||||||
Revenue Textuals | ||||||||||
Affiliated Companies - Contracts with Customers | 0 | 0 | 0.1 | |||||||
AEP Transmission Co [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenues | 444.9 | 364.4 | 886.5 | 764.8 | ||||||
AEP Transmission Co [Member] | Related Party | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 365.8 | 333.9 | 723.2 | 658.9 | ||||||
Revenue Textuals | ||||||||||
Affiliated Companies - Contracts with Customers | 179.4 | 179.4 | 119.5 | |||||||
AEP Transmission Co [Member] | Retail [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 0 | 0 | 0 | 0 | ||||||
AEP Transmission Co [Member] | Residential [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 0 | 0 | 0 | 0 | ||||||
AEP Transmission Co [Member] | Commercial [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 0 | 0 | 0 | 0 | ||||||
AEP Transmission Co [Member] | Industrial [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 0 | 0 | 0 | [22] | 0 | |||||
AEP Transmission Co [Member] | Other Retail [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 0 | 0 | 0 | 0 | ||||||
AEP Transmission Co [Member] | Wholesale and Competitive [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 444.7 | 406.1 | 883.4 | 806.4 | ||||||
AEP Transmission Co [Member] | Wholesale Generation [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 0 | [23] | 0 | [24] | 0 | [25] | 0 | [26] | ||
AEP Transmission Co [Member] | Wholesale Transmission [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 444.7 | [27] | 406.1 | [28] | 883.4 | [29] | 806.4 | [30] | ||
AEP Transmission Co [Member] | Wholesale Transmission [Member] | Related Party | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 357 | 330 | 706 | 653 | ||||||
AEP Transmission Co [Member] | Other Revenues [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 4.1 | [31] | 0.2 | [32] | 7.8 | [33] | (0.1) | [34] | ||
AEP Transmission Co [Member] | Affiliated and Nonaffiliated [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 448.8 | 406.3 | 891.2 | 806.3 | ||||||
AEP Transmission Co [Member] | Alternative and Other [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenues | (3.9) | (41.9) | (4.7) | (41.5) | ||||||
AEP Transmission Co [Member] | Alternative [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenues | (3.9) | [35],[36] | (41.9) | [37],[38] | (4.7) | [22],[39] | (41.5) | [40],[41] | ||
AEP Transmission Co [Member] | Other Revenues [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenues | 0 | [36] | 0 | [38] | 0 | [22] | 0 | [41] | ||
AEP Transmission Co [Member] | Short-term Contract with Customer [Member] | Related Party | ||||||||||
Revenue Textuals | ||||||||||
Affiliated Companies - Contracts with Customers | 123.1 | 123.1 | 113.8 | |||||||
Appalachian Power Co [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenues | 826.5 | 773.6 | 1,814.2 | 1,680.9 | ||||||
Revenue, Performance Obligation | ||||||||||
Fixed Performance Obligations | 77.3 | 77.3 | ||||||||
Appalachian Power Co [Member] | Related Party | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 61.1 | 63.1 | 130.7 | 120 | ||||||
Revenue Textuals | ||||||||||
Affiliated Companies - Contracts with Customers | 121.5 | 121.5 | 94 | |||||||
Appalachian Power Co [Member] | Retail [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 706.1 | 647.9 | 1,559.9 | 1,434.2 | ||||||
Appalachian Power Co [Member] | Residential [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 324.8 | 313.2 | 795.3 | 771.2 | ||||||
Appalachian Power Co [Member] | Commercial [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 163.6 | 152.6 | 334.9 | 306.5 | ||||||
Appalachian Power Co [Member] | Industrial [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 192.5 | 161.9 | 378.3 | [22] | 315.7 | |||||
Appalachian Power Co [Member] | Other Retail [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 25.2 | 20.2 | 51.4 | 40.8 | ||||||
Appalachian Power Co [Member] | Wholesale and Competitive [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 108.1 | 104.3 | 229.7 | 201.6 | ||||||
Appalachian Power Co [Member] | Wholesale Generation [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 64.2 | [23] | 63.5 | [24] | 144.4 | [25] | 119.7 | [26] | ||
Appalachian Power Co [Member] | Wholesale Generation [Member] | Related Party | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 38 | 42 | 85 | 78 | ||||||
Appalachian Power Co [Member] | Wholesale Transmission [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 43.9 | [27] | 40.8 | [28] | 85.3 | [29] | 81.9 | [30] | ||
Appalachian Power Co [Member] | Other Revenues [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 11.8 | [31] | 20.6 | [32] | 24.8 | [33] | 44.9 | [34] | ||
Appalachian Power Co [Member] | Affiliated and Nonaffiliated [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 826 | 772.8 | 1,814.4 | 1,680.7 | ||||||
Appalachian Power Co [Member] | Alternative and Other [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenues | 0.5 | 0.8 | (0.2) | 0.2 | ||||||
Appalachian Power Co [Member] | Alternative [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenues | 0.5 | [35],[36] | 0.8 | [37],[38] | (0.2) | [22],[39] | 0.1 | [40],[41] | ||
Appalachian Power Co [Member] | Other Revenues [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 2.9 | 5.6 | 6.5 | 8.9 | ||||||
Revenues | 0 | [36] | 0 | [38] | 0 | [22] | 0.1 | [41] | ||
Appalachian Power Co [Member] | Short-term Contract with Customer [Member] | Related Party | ||||||||||
Revenue Textuals | ||||||||||
Affiliated Companies - Contracts with Customers | 68.1 | 68.1 | 64.5 | |||||||
Appalachian Power Co [Member] | 2023 [Member] | ||||||||||
Revenue, Performance Obligation | ||||||||||
Fixed Performance Obligations | 8.1 | 8.1 | ||||||||
Appalachian Power Co [Member] | 2024-2025[Member] | ||||||||||
Revenue, Performance Obligation | ||||||||||
Fixed Performance Obligations | 32.2 | 32.2 | ||||||||
Appalachian Power Co [Member] | 2026-2027 [Member] | ||||||||||
Revenue, Performance Obligation | ||||||||||
Fixed Performance Obligations | 25.4 | 25.4 | ||||||||
Appalachian Power Co [Member] | After 2027 | ||||||||||
Revenue, Performance Obligation | ||||||||||
Fixed Performance Obligations | 11.6 | 11.6 | ||||||||
Indiana Michigan Power Co [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenues | 599.2 | 631 | 1,262.2 | 1,256.2 | ||||||
Revenue, Performance Obligation | ||||||||||
Fixed Performance Obligations | 24.3 | 24.3 | ||||||||
Indiana Michigan Power Co [Member] | Related Party | ||||||||||
Revenue Textuals | ||||||||||
Affiliated Companies - Contracts with Customers | 113.3 | 113.3 | 104 | |||||||
Indiana Michigan Power Co [Member] | Retail [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 483.7 | 495 | 1,016.1 | 991.2 | ||||||
Indiana Michigan Power Co [Member] | Residential [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 185.2 | 195.2 | 424.8 | 427 | ||||||
Indiana Michigan Power Co [Member] | Commercial [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 141.4 | 138.6 | 280.3 | 265.2 | ||||||
Indiana Michigan Power Co [Member] | Industrial [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 155.9 | 160 | 308.5 | [22] | 296.5 | |||||
Indiana Michigan Power Co [Member] | Other Retail [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 1.2 | 1.2 | 2.5 | 2.5 | ||||||
Indiana Michigan Power Co [Member] | Wholesale and Competitive [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 73.1 | 102.9 | 185.2 | 202.1 | ||||||
Indiana Michigan Power Co [Member] | Wholesale Generation [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 63.5 | [23] | 94.2 | [24] | 167.5 | [25] | 184.6 | [26] | ||
Indiana Michigan Power Co [Member] | Wholesale Transmission [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 9.6 | [27] | 8.7 | [28] | 17.7 | [29] | 17.5 | [30] | ||
Indiana Michigan Power Co [Member] | Other Revenues [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 45 | [31] | 25.8 | [32] | 66.4 | [33] | 55.7 | [34] | ||
Indiana Michigan Power Co [Member] | Other Revenues [Member] | Related Party | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 17 | |||||||||
Indiana Michigan Power Co [Member] | Affiliated and Nonaffiliated [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 601.8 | 623.7 | 1,267.7 | 1,249 | ||||||
Indiana Michigan Power Co [Member] | Alternative and Other [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenues | (2.6) | 7.3 | (5.5) | 7.2 | ||||||
Indiana Michigan Power Co [Member] | Alternative [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenues | (2.6) | [35],[36] | 7.3 | [37],[38] | (5.5) | [22],[39] | 7.3 | [40],[41] | ||
Indiana Michigan Power Co [Member] | Other Revenues [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 2.4 | 2.8 | 5.5 | 5.6 | ||||||
Revenues | 0 | [36] | 0 | [38] | 0 | [22] | (0.1) | [41] | ||
Indiana Michigan Power Co [Member] | Other Revenues [Member] | Related Party | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 19 | 35 | 29 | |||||||
Indiana Michigan Power Co [Member] | Short-term Contract with Customer [Member] | Related Party | ||||||||||
Revenue Textuals | ||||||||||
Affiliated Companies - Contracts with Customers | 47.3 | 47.3 | 75.3 | |||||||
Indiana Michigan Power Co [Member] | 2023 [Member] | ||||||||||
Revenue, Performance Obligation | ||||||||||
Fixed Performance Obligations | 2.2 | 2.2 | ||||||||
Indiana Michigan Power Co [Member] | 2024-2025[Member] | ||||||||||
Revenue, Performance Obligation | ||||||||||
Fixed Performance Obligations | 8.8 | 8.8 | ||||||||
Indiana Michigan Power Co [Member] | 2026-2027 [Member] | ||||||||||
Revenue, Performance Obligation | ||||||||||
Fixed Performance Obligations | 8.8 | 8.8 | ||||||||
Indiana Michigan Power Co [Member] | After 2027 | ||||||||||
Revenue, Performance Obligation | ||||||||||
Fixed Performance Obligations | 4.5 | 4.5 | ||||||||
Ohio Power Co [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenues | 879.1 | 822.9 | 1,913.7 | 1,652.9 | ||||||
Ohio Power Co [Member] | Related Party | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 8.2 | 3.9 | 15.8 | 7.6 | ||||||
Revenue Textuals | ||||||||||
Affiliated Companies - Contracts with Customers | 126.5 | 126.5 | 100.9 | |||||||
Ohio Power Co [Member] | Retail [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 807.5 | 737.2 | 1,789.4 | 1,496.6 | ||||||
Ohio Power Co [Member] | Residential [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 429.3 | 386.7 | 955.3 | 845.4 | ||||||
Ohio Power Co [Member] | Commercial [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 257.8 | 221.1 | 536.3 | 415.8 | ||||||
Ohio Power Co [Member] | Industrial [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 116.8 | 126 | 290.4 | [22] | 228.7 | |||||
Ohio Power Co [Member] | Other Retail [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 3.6 | 3.4 | 7.4 | 6.7 | ||||||
Ohio Power Co [Member] | Wholesale and Competitive [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 21 | 21.1 | 38.9 | 42.9 | ||||||
Ohio Power Co [Member] | Wholesale Generation [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 0 | [23] | 0 | [24] | 0 | [25] | 0 | [26] | ||
Ohio Power Co [Member] | Wholesale Transmission [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 21 | [27] | 21.1 | [28] | 38.9 | [29] | 42.9 | [30] | ||
Ohio Power Co [Member] | Other Revenues [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 45.5 | [31] | 60.2 | [32] | 78.7 | [33] | 104.8 | [34] | ||
Ohio Power Co [Member] | Affiliated and Nonaffiliated [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 874 | 818.5 | 1,907 | 1,644.3 | ||||||
Ohio Power Co [Member] | Alternative and Other [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenues | 5.1 | 4.4 | 6.7 | 8.6 | ||||||
Ohio Power Co [Member] | Alternative [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenues | (0.9) | [35],[36] | (2.4) | [37],[38] | (10.4) | [22],[39] | (4.5) | [40],[41] | ||
Ohio Power Co [Member] | Other Revenues [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 2.1 | 1.8 | 7.3 | 3.9 | ||||||
Revenues | 6 | [36] | 6.8 | [38] | 17.1 | [22] | 13.1 | [41] | ||
Ohio Power Co [Member] | Short-term Contract with Customer [Member] | Related Party | ||||||||||
Revenue Textuals | ||||||||||
Affiliated Companies - Contracts with Customers | 68.6 | 68.6 | 49.9 | |||||||
Public Service Co Of Oklahoma [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenues | 474.7 | 442.9 | 891.7 | 830.5 | ||||||
Public Service Co Of Oklahoma [Member] | Related Party | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 0.1 | 0.8 | 0.8 | 1.4 | ||||||
Revenue Textuals | ||||||||||
Affiliated Companies - Contracts with Customers | 67.1 | 67.1 | 52.2 | |||||||
Public Service Co Of Oklahoma [Member] | Retail [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 454.3 | 424.7 | 856.8 | 787.9 | ||||||
Public Service Co Of Oklahoma [Member] | Residential [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 186.5 | 185.2 | 357.4 | 351.1 | ||||||
Public Service Co Of Oklahoma [Member] | Commercial [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 131.7 | 121.2 | 240.8 | 218.7 | ||||||
Public Service Co Of Oklahoma [Member] | Industrial [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 107.8 | 92.5 | 206.1 | [22] | 171.1 | |||||
Public Service Co Of Oklahoma [Member] | Other Retail [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 28.3 | 25.8 | 52.5 | 47 | ||||||
Public Service Co Of Oklahoma [Member] | Wholesale and Competitive [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 14.2 | 9.4 | 26.4 | 28.5 | ||||||
Public Service Co Of Oklahoma [Member] | Wholesale Generation [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 4.3 | [23] | 0.3 | [24] | 5.2 | [25] | 9.8 | [26] | ||
Public Service Co Of Oklahoma [Member] | Wholesale Transmission [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 9.9 | [27] | 9.1 | [28] | 21.2 | [29] | 18.7 | [30] | ||
Public Service Co Of Oklahoma [Member] | Other Revenues [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 7.2 | [31] | 9.6 | [32] | 9.5 | [33] | 15 | [34] | ||
Public Service Co Of Oklahoma [Member] | Affiliated and Nonaffiliated [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 475.7 | 443.7 | 892.7 | 831.4 | ||||||
Public Service Co Of Oklahoma [Member] | Alternative and Other [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenues | (1) | (0.8) | (1) | (0.9) | ||||||
Public Service Co Of Oklahoma [Member] | Alternative [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenues | (1) | [35],[36] | (0.8) | [37],[38] | (1) | [22],[39] | (0.9) | [40],[41] | ||
Public Service Co Of Oklahoma [Member] | Other Revenues [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 2.2 | 2.1 | 3.7 | 2.7 | ||||||
Revenues | 0 | [36] | 0 | [38] | 0 | [22] | 0 | [41] | ||
Public Service Co Of Oklahoma [Member] | Short-term Contract with Customer [Member] | Related Party | ||||||||||
Revenue Textuals | ||||||||||
Affiliated Companies - Contracts with Customers | 30.6 | 30.6 | 18.8 | |||||||
Southwestern Electric Power Co [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenues | 537.8 | 536.6 | 1,053.7 | 1,031.4 | ||||||
Southwestern Electric Power Co [Member] | Related Party | ||||||||||
Revenue Textuals | ||||||||||
Affiliated Companies - Contracts with Customers | 63.6 | 63.6 | 65.4 | |||||||
Southwestern Electric Power Co [Member] | Retail [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 452.1 | 436.1 | 878.3 | 829.6 | ||||||
Southwestern Electric Power Co [Member] | Residential [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 185.1 | 188.6 | 361 | 364.5 | ||||||
Southwestern Electric Power Co [Member] | Commercial [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 153.8 | 146 | 297.3 | 276.5 | ||||||
Southwestern Electric Power Co [Member] | Industrial [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 110.6 | 97.1 | 214.8 | [22] | 181.8 | |||||
Southwestern Electric Power Co [Member] | Other Retail [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 2.6 | 4.4 | 5.2 | 6.8 | ||||||
Southwestern Electric Power Co [Member] | Wholesale and Competitive [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 82.2 | 96.7 | 164.7 | 193.1 | ||||||
Southwestern Electric Power Co [Member] | Wholesale Generation [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 43.9 | [23] | 57.4 | [24] | 83.5 | [25] | 118.6 | [26] | ||
Southwestern Electric Power Co [Member] | Wholesale Transmission [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 38.3 | [27] | 39.3 | [28] | 81.2 | [29] | 74.5 | [30] | ||
Southwestern Electric Power Co [Member] | Other Revenues [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 7 | [31] | 6 | [32] | 14.9 | [33] | 11.3 | [34] | ||
Southwestern Electric Power Co [Member] | Affiliated and Nonaffiliated [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 541.3 | 538.8 | 1,057.9 | 1,034 | ||||||
Southwestern Electric Power Co [Member] | Alternative and Other [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenues | (3.5) | (2.2) | (4.2) | (2.6) | ||||||
Southwestern Electric Power Co [Member] | Alternative [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenues | (3.5) | [35],[36] | (2.2) | [37],[38] | (4.2) | [22],[39] | (2.6) | [40],[41] | ||
Southwestern Electric Power Co [Member] | Other Revenues [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 0.8 | 0.4 | 1.3 | 1 | ||||||
Revenues | 0 | [36] | 0 | [38] | 0 | [22] | 0 | [41] | ||
Southwestern Electric Power Co [Member] | Short-term Contract with Customer [Member] | Related Party | ||||||||||
Revenue Textuals | ||||||||||
Affiliated Companies - Contracts with Customers | 42.4 | 42.4 | $ 19.1 | |||||||
Consolidation Eliminations [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 0 | 0 | 0 | 0 | ||||||
Revenues | (464.2) | (373.3) | (907.9) | (765.5) | ||||||
Consolidation Eliminations [Member] | Related Party | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | (464.2) | (373.3) | (907.9) | (765.5) | ||||||
Consolidation Eliminations [Member] | Retail [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | (0.1) | 0 | (0.3) | (0.4) | ||||||
Consolidation Eliminations [Member] | Residential [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 0 | 0 | 0 | 0 | ||||||
Consolidation Eliminations [Member] | Commercial [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 0 | 0 | 0 | 0 | ||||||
Consolidation Eliminations [Member] | Industrial [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | (0.1) | 0 | (0.3) | [1] | (0.4) | |||||
Consolidation Eliminations [Member] | Other Retail [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 0 | 0 | 0 | 0 | ||||||
Consolidation Eliminations [Member] | Wholesale and Competitive [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | (415.9) | (337.1) | (817.7) | (708.7) | ||||||
Consolidation Eliminations [Member] | Wholesale Generation [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 0.1 | 0.1 | 0.1 | 0.1 | ||||||
Consolidation Eliminations [Member] | Wholesale Transmission [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | (402.8) | [2] | (332) | [3] | (804.6) | [4] | (693.8) | [5] | ||
Consolidation Eliminations [Member] | Renewable Generation [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | (3.1) | [6] | (2.9) | [7] | (3.2) | [1] | (3.7) | [8] | ||
Consolidation Eliminations [Member] | Retail, Trading and Marketing Revenues [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | (10.1) | [6] | (2.3) | [7] | (10) | [9] | (11.3) | [10] | ||
Consolidation Eliminations [Member] | Other Revenues [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | (39.9) | [11] | (21.1) | [12] | (83.6) | [13] | (39.7) | [14] | ||
Consolidation Eliminations [Member] | Affiliated and Nonaffiliated [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | (455.9) | (358.2) | (901.6) | (748.8) | ||||||
Consolidation Eliminations [Member] | Alternative and Other [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenues | (8.3) | (15.1) | (6.3) | (16.7) | ||||||
Consolidation Eliminations [Member] | Alternative [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenues | (6.3) | [6],[15] | (13.1) | [7],[16] | (3.4) | [1],[17] | (11.8) | [8],[18] | ||
Consolidation Eliminations [Member] | Other Revenues [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenues | (2) | [6] | (2) | [7],[19] | (2.9) | [1],[20] | (4.9) | [8],[21] | ||
Consolidation Eliminations [Member] | AEP Transmission Co [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 0 | 0 | 0 | 0 | ||||||
Revenues | 0 | 0 | 0 | 0 | ||||||
Consolidation Eliminations [Member] | AEP Transmission Co [Member] | Related Party | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 0 | 0 | 0 | 0 | ||||||
Vertically Integrated Utilities [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenues | 2,674.5 | 2,648.5 | 5,532.3 | 5,335.9 | ||||||
Vertically Integrated Utilities [Member] | Related Party | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 45.5 | 53.5 | 87 | 94.1 | ||||||
Vertically Integrated Utilities [Member] | Retail [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 2,362.5 | 2,298.8 | 4,893.4 | 4,632.9 | ||||||
Vertically Integrated Utilities [Member] | Residential [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 962 | 979.3 | 2,132.4 | 2,130.1 | ||||||
Vertically Integrated Utilities [Member] | Commercial [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 642.7 | 624.8 | 1,276.1 | 1,197.7 | ||||||
Vertically Integrated Utilities [Member] | Industrial [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 698.9 | 641.8 | 1,369.2 | [1] | 1,204.8 | |||||
Vertically Integrated Utilities [Member] | Other Retail [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 58.9 | 52.9 | 115.7 | 100.3 | ||||||
Vertically Integrated Utilities [Member] | Wholesale and Competitive [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 254.9 | 297.1 | 552.4 | 589.6 | ||||||
Vertically Integrated Utilities [Member] | Wholesale Generation [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 141.4 | 188.3 | 324.2 | 375.5 | ||||||
Vertically Integrated Utilities [Member] | Wholesale Transmission [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 113.5 | [2] | 108.8 | [3] | 228.2 | [4] | 214.1 | [5] | ||
Vertically Integrated Utilities [Member] | Wholesale Transmission [Member] | Related Party | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 80 | |||||||||
Vertically Integrated Utilities [Member] | Renewable Generation [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 0 | [6] | 0 | [7] | 0 | [1] | 0 | [8] | ||
Vertically Integrated Utilities [Member] | Retail, Trading and Marketing Revenues [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 0 | [6] | 0 | [7] | 0 | [9] | 0 | [10] | ||
Vertically Integrated Utilities [Member] | Retail, Trading and Marketing Revenues [Member] | Related Party | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 5 | |||||||||
Vertically Integrated Utilities [Member] | Other Revenues [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 61.9 | [11] | 49.2 | [12] | 94.5 | [13] | 110.8 | [14] | ||
Vertically Integrated Utilities [Member] | Affiliated and Nonaffiliated [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 2,679.3 | 2,645.1 | 5,540.3 | 5,333.3 | ||||||
Vertically Integrated Utilities [Member] | Alternative and Other [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenues | (4.8) | 3.4 | (8) | 2.6 | ||||||
Vertically Integrated Utilities [Member] | Alternative [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenues | (4.9) | [6],[15] | 3.3 | [7],[16] | (8) | [1],[17] | 2.5 | [8],[18] | ||
Vertically Integrated Utilities [Member] | Other Revenues [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenues | 0.1 | [6] | 0.1 | [7],[19] | 0 | [1],[20] | 0.1 | [8],[21] | ||
Transmission And Distribution Utilities [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenues | 1,340.2 | 1,301.6 | 2,804.4 | 2,548.4 | ||||||
Transmission And Distribution Utilities [Member] | Related Party | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 9.4 | 4.8 | 18.3 | 9.4 | ||||||
Transmission And Distribution Utilities [Member] | Retail [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 1,096.8 | 1,068.6 | 2,354.5 | 2,103.8 | ||||||
Transmission And Distribution Utilities [Member] | Residential [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 574.1 | 561.6 | 1,230.9 | 1,162.2 | ||||||
Transmission And Distribution Utilities [Member] | Commercial [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 358.3 | 331.7 | 734.2 | 621.4 | ||||||
Transmission And Distribution Utilities [Member] | Industrial [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 152.1 | 162.5 | 365 | [1] | 295.8 | |||||
Transmission And Distribution Utilities [Member] | Other Retail [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 12.3 | 12.8 | 24.4 | 24.4 | ||||||
Transmission And Distribution Utilities [Member] | Wholesale and Competitive [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 184.1 | 164.9 | 348.3 | 319.8 | ||||||
Transmission And Distribution Utilities [Member] | Wholesale Generation [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 0 | 0 | 0 | 0 | ||||||
Transmission And Distribution Utilities [Member] | Wholesale Transmission [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 184.1 | [2] | 164.9 | [3] | 348.3 | [4] | 319.8 | [5] | ||
Transmission And Distribution Utilities [Member] | Renewable Generation [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 0 | [6] | 0 | [7] | 0 | [1] | 0 | [8] | ||
Transmission And Distribution Utilities [Member] | Retail, Trading and Marketing Revenues [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 0 | [6] | 0 | [7] | 0 | [9] | 0 | [10] | ||
Transmission And Distribution Utilities [Member] | Other Revenues [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 56.1 | [11] | 65.9 | [12] | 98.9 | [13] | 119.7 | [14] | ||
Transmission And Distribution Utilities [Member] | Affiliated and Nonaffiliated [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 1,337 | 1,299.4 | 2,801.7 | 2,543.3 | ||||||
Transmission And Distribution Utilities [Member] | Alternative and Other [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenues | 3.2 | 2.2 | 2.7 | 5.1 | ||||||
Transmission And Distribution Utilities [Member] | Alternative [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenues | (2.9) | [6],[15] | (4.6) | [7],[16] | (14.5) | [1],[17] | (8) | [8],[18] | ||
Transmission And Distribution Utilities [Member] | Other Revenues [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenues | 6.1 | [6] | 6.8 | [7],[19] | 17.2 | [1],[20] | 13.1 | [8],[21] | ||
AEP Transmission Holdco [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenues | 458.6 | 378.8 | 914.1 | 790.2 | ||||||
AEP Transmission Holdco [Member] | Retail [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 0 | 0 | 0 | 0 | ||||||
AEP Transmission Holdco [Member] | Residential [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 0 | 0 | 0 | 0 | ||||||
AEP Transmission Holdco [Member] | Commercial [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 0 | 0 | 0 | 0 | ||||||
AEP Transmission Holdco [Member] | Industrial [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 0 | 0 | 0 | [1] | 0 | |||||
AEP Transmission Holdco [Member] | Other Retail [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 0 | 0 | 0 | 0 | ||||||
AEP Transmission Holdco [Member] | Wholesale and Competitive [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 455.8 | 421.6 | 905.9 | 836.1 | ||||||
AEP Transmission Holdco [Member] | Wholesale Generation [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 0 | 0 | 0 | 0 | ||||||
AEP Transmission Holdco [Member] | Wholesale Transmission [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 455.8 | [2] | 421.6 | [3] | 905.9 | [4] | 836.1 | [5] | ||
AEP Transmission Holdco [Member] | Wholesale Transmission [Member] | Related Party | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 360 | 334 | 712 | 661 | ||||||
AEP Transmission Holdco [Member] | Renewable Generation [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 0 | [6] | 0 | [7] | 0 | [1] | 0 | [8] | ||
AEP Transmission Holdco [Member] | Retail, Trading and Marketing Revenues [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 0 | [6] | 0 | [7] | 0 | [9] | 0 | [10] | ||
AEP Transmission Holdco [Member] | Other Revenues [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 4.3 | [11] | 0.2 | [12] | 7.9 | [13] | 0 | [14] | ||
AEP Transmission Holdco [Member] | Affiliated and Nonaffiliated [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 460.1 | 421.8 | 913.8 | 836.1 | ||||||
AEP Transmission Holdco [Member] | Alternative and Other [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenues | (1.5) | (43) | 0.3 | (45.9) | ||||||
AEP Transmission Holdco [Member] | Alternative [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenues | (1.5) | [6],[15] | (43) | [7],[16] | 0.3 | [1],[17] | (45.9) | [8],[18] | ||
AEP Transmission Holdco [Member] | Other Revenues [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenues | 0 | [6] | 0 | [7],[19] | 0 | [1],[20] | 0 | [8],[21] | ||
Generation And Marketing [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenues | 331.4 | 659.6 | 658.4 | 1,278.9 | ||||||
Generation And Marketing [Member] | Related Party | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 13.2 | 5.2 | 13.3 | 15 | ||||||
Generation And Marketing [Member] | Retail [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 0 | 0 | 0 | 0 | ||||||
Generation And Marketing [Member] | Residential [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 0 | 0 | 0 | 0 | ||||||
Generation And Marketing [Member] | Commercial [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 0 | 0 | 0 | 0 | ||||||
Generation And Marketing [Member] | Industrial [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 0 | 0 | 0 | [1] | 0 | |||||
Generation And Marketing [Member] | Other Retail [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 0 | 0 | 0 | 0 | ||||||
Generation And Marketing [Member] | Wholesale and Competitive [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 460.4 | 529.5 | 927.8 | 981 | ||||||
Generation And Marketing [Member] | Wholesale Generation [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 19.6 | 83 | 52 | 123.3 | ||||||
Generation And Marketing [Member] | Wholesale Transmission [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 0 | [2] | 0 | [3] | 0 | [4] | 0 | [5] | ||
Generation And Marketing [Member] | Renewable Generation [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 33.1 | [6] | 38.2 | [7] | 54.4 | [1] | 60.6 | [8] | ||
Generation And Marketing [Member] | Retail, Trading and Marketing Revenues [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 407.7 | [6] | 408.3 | [7] | 821.4 | [9] | 797.1 | [10] | ||
Generation And Marketing [Member] | Other Revenues [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 6.2 | [11] | 1.6 | [12] | 6.8 | [13] | 10.2 | [14] | ||
Generation And Marketing [Member] | Affiliated and Nonaffiliated [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 466.6 | 531.1 | 934.6 | 991.2 | ||||||
Generation And Marketing [Member] | Alternative and Other [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenues | (135.2) | 128.5 | (276.2) | 287.7 | ||||||
Generation And Marketing [Member] | Alternative [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenues | 0 | [6],[15] | 0 | [7],[16] | 0 | [1],[17] | 0 | [8],[18] | ||
Generation And Marketing [Member] | Other Revenues [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenues | (135.2) | [6],[42] | 128.5 | [7],[19] | (276.2) | [1],[20] | 287.7 | [8],[21] | ||
Generation And Marketing [Member] | Retail, Trading and Marketing | Related Party | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 10 | 11 | ||||||||
Other Segments [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenues | [43] | 32 | 24.5 | 62.1 | 44.4 | |||||
Other Segments [Member] | Related Party | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | [43] | 25.8 | 10.1 | 53.6 | 19.3 | |||||
Other Segments [Member] | Retail [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 0 | 0 | 0 | 0 | ||||||
Other Segments [Member] | Residential [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 0 | 0 | 0 | 0 | ||||||
Other Segments [Member] | Commercial [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 0 | 0 | 0 | 0 | ||||||
Other Segments [Member] | Industrial [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 0 | 0 | 0 | [1] | 0 | |||||
Other Segments [Member] | Other Retail [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 0 | 0 | 0 | 0 | ||||||
Other Segments [Member] | Wholesale and Competitive [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 1.2 | 1.3 | 0.9 | 4.5 | ||||||
Other Segments [Member] | Wholesale Generation [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 0 | 0 | 0 | 0 | ||||||
Other Segments [Member] | Wholesale Transmission [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 0 | [2] | 0 | [3] | 0 | [4] | 0 | [5] | ||
Other Segments [Member] | Renewable Generation [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 0 | [6] | 0 | [7] | 0 | [1] | 0 | [8] | ||
Other Segments [Member] | Retail, Trading and Marketing Revenues [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 1.2 | [6] | 1.3 | [7] | 0.9 | [9] | 4.5 | [10] | ||
Other Segments [Member] | Other Revenues [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 28.6 | [11] | 20.9 | [12] | 58 | [13] | 34.8 | [14] | ||
Other Segments [Member] | Affiliated and Nonaffiliated [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | 29.8 | 22.2 | 58.9 | 39.3 | ||||||
Other Segments [Member] | Alternative and Other [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenues | 2.2 | 2.3 | 3.2 | 5.1 | ||||||
Other Segments [Member] | Alternative [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenues | 0 | [6],[15] | 0 | [7],[16] | 0 | [1],[17] | 0 | [8],[18] | ||
Other Segments [Member] | Other Revenues [Member] | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | [43] | 6.2 | 14.4 | 8.5 | 25.1 | |||||
Revenues | 2.2 | [6] | $ 2.3 | [7],[19] | 3.2 | [1],[20] | 5.1 | [8],[21] | ||
Corporate and Other | Other Revenues [Member] | Related Party | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | $ 26 | |||||||||
Corporate and Other | Other Revenues [Member] | Related Party | ||||||||||
Disaggregation of Revenue | ||||||||||
Revenue from Contracts with Customers | $ 55 | $ 19 | ||||||||
[1]Amounts include affiliated and nonaffiliated revenues.[2]Amounts include affiliated and nonaffiliated revenues. The affiliated revenue for AEP Transmission Holdco was $360 million. The remaining affiliated amounts were immaterial.[3]Amounts include affiliated and nonaffiliated revenues. The affiliated revenue for AEP Transmission Holdco was $334 million. The remaining affiliated amounts were immaterial.[4]Amounts include affiliated and nonaffiliated revenues. The affiliated revenue for AEP Transmission Holdco was $712 million. The affiliated revenue for Vertically Integrated Utilities was $80 million. The remaining affiliated amounts were immaterial.[5]Amounts include affiliated and nonaffiliated revenues. The affiliated revenue for AEP Transmission Holdco was $661 million. The remaining affiliated amounts were immaterial.[6]Amounts include affiliated and nonaffiliated revenues.[7]Amounts include affiliated and nonaffiliated revenues[8]Amounts include affiliated and nonaffiliated revenues.[9]Amounts include affiliated and nonaffiliated revenues. The affiliated revenue for Generation & Marketing was $10 million. The remaining affiliated amounts were immaterial.[10]Amounts include affiliated and nonaffiliated revenues. The affiliated revenue for Generation & Marketing was $11 million. The remaining affiliated amounts were immaterial.[11]Amounts include affiliated and nonaffiliated revenues. The affiliated revenue for Corporate and Other was $26 million. The remaining affiliated amounts were immaterial.[12]Amounts include affiliated and nonaffiliated revenues. The affiliated revenue for Vertically Integrated Utilities was $5 million. The remaining affiliated amounts were immaterial.[13]Amounts include affiliated and nonaffiliated revenues. The affiliated revenue for Corporate and Other was $55 million. The remaining affiliated amounts were immaterial.[14]Amounts include affiliated and nonaffiliated revenues. The affiliated revenue for Corporate and Other was $19 million. The remaining affiliated amounts were immaterial.[15]Alternative revenue programs in certain jurisdictions include regulatory mechanisms that periodically adjust for over/under collection of related revenues.[16]Alternative revenue programs in certain jurisdictions include regulatory mechanisms that periodically adjust for over/under collection of related revenues.[17]Alternative revenue programs in certain jurisdictions include regulatory mechanisms that periodically adjust for over/under collection of related revenues.[18]Alternative revenue programs in certain jurisdictions include regulatory mechanisms that periodically adjust for over/under collection of related revenues.[19]Generation & Marketing includes economic hedge activity.[20]Generation & Marketing includes economic hedge activity.[21]Generation & Marketing includes economic hedge activity.[22]Amounts include affiliated and nonaffiliated revenues.[23]Amounts include affiliated and nonaffiliated revenues. The affiliated revenue for APCo was $38 million primarily related to the PPA with KGPCo.[24]Amounts include affiliated and nonaffiliated revenues. The affiliated revenue for APCo was $42 million primarily related to the PPA with KGPCo.[25]Amounts include affiliated and nonaffiliated revenues. The affiliated revenue for APCo was $85 million primarily relating to the PPA with KGPCo. The remaining affiliated amounts were immaterial.[26]Amounts include affiliated and nonaffiliated revenues. The affiliated revenue for APCo was $78 million primarily relating to the PPA with KGPCo.[27]Amounts include affiliated and nonaffiliated revenues. The affiliated revenue for AEPTCo was $357 million. The remaining affiliated amounts were immaterial.[28]Amounts include affiliated and nonaffiliated revenues. The affiliated revenue for AEPTCo was $330 million. The remaining affiliated amounts were immaterial.[29]Amounts include affiliated and nonaffiliated revenues. The affiliated revenue for AEPTCo was $706 million. The remaining affiliated amounts were immaterial.[30]Amounts include affiliated and nonaffiliated revenues. The affiliated revenue for AEPTCo was $653 million. The remaining affiliated amounts were immaterial.[31]Amounts include affiliated and nonaffiliated revenues. The affiliated revenue for I&M was $17 million primarily related to barging, urea transloading and other transportation services. The remaining affiliated amounts were immaterial.[32]Amounts include affiliated and nonaffiliated revenues. The affiliated revenue for I&M was $19 million primarily related to barging, urea transloading and other transportation services. The remaining affiliated amounts were immaterial.[33]Amounts include affiliated and nonaffiliated revenues. The affiliated revenue for I&M was $35 million primarily relating to barging, urea transloading and other transportation services. The remaining affiliated amounts were immaterial.[34]Amounts include affiliated and nonaffiliated revenues. The affiliated revenue for I&M was $29 million primarily relating to barging, urea transloading and other transportation services. The remaining affiliated amounts were immaterial.[35]Alternative revenue programs in certain jurisdictions include regulatory mechanisms that periodically adjust for over/under collection of related revenues.[36]Amounts include affiliated and nonaffiliated revenues.[37]Alternative revenue programs in certain jurisdictions include regulatory mechanisms that periodically adjust for over/under collection of related revenues.[38]Amounts include affiliated and nonaffiliated revenues.[39]Alternative revenue programs in certain jurisdictions include regulatory mechanisms that periodically adjust for over/under collection of related revenues.[40]Alternative revenue programs in certain jurisdictions include regulatory mechanisms that periodically adjust for over/under collection of related revenues.[41]Amounts include affiliated and nonaffiliated revenues.[42]Generation & Marketing includes economic hedge activity.[43]Corporate and Other primarily includes the purchasing of receivables from certain AEP utility subsidiaries. This segment also includes Parent’s guarantee revenue received from affiliates, investment income, interest income, interest expense and other nonallocated costs. |