Commission | Registrants; | I.R.S. Employer | ||||||||||||||||||||||||||||||
File Number | Address and Telephone Number | States of Incorporation | Identification Nos. | |||||||||||||||||||||||||||||
1-3525 | AMERICAN ELECTRIC POWER CO INC. | New York | 13-4922640 | |||||||||||||||||||||||||||||
333-221643 | AEP TEXAS INC. | Delaware | 51-0007707 | |||||||||||||||||||||||||||||
333-217143 | AEP TRANSMISSION COMPANY, LLC | Delaware | 46-1125168 | |||||||||||||||||||||||||||||
1-3457 | APPALACHIAN POWER COMPANY | Virginia | 54-0124790 | |||||||||||||||||||||||||||||
1-3570 | INDIANA MICHIGAN POWER COMPANY | Indiana | 35-0410455 | |||||||||||||||||||||||||||||
1-6543 | OHIO POWER COMPANY | Ohio | 31-4271000 | |||||||||||||||||||||||||||||
0-343 | PUBLIC SERVICE COMPANY OF OKLAHOMA | Oklahoma | 73-0410895 | |||||||||||||||||||||||||||||
1-3146 | SOUTHWESTERN ELECTRIC POWER COMPANY | Delaware | 72-0323455 | |||||||||||||||||||||||||||||
1 Riverside Plaza, | Columbus, | Ohio | 43215-2373 | |||||||||||||||||||||||||||||
Telephone | (614) | 716-1000 |
Registrant | Title of each class | Trading Symbol | Name of Each Exchange on Which Registered | |||||||||||||||||
American Electric Power Company Inc. | Common Stock, $6.50 par value | AEP | The NASDAQ Stock Market LLC | |||||||||||||||||
American Electric Power Company Inc. | 6.125% Corporate Units | AEPPL | The NASDAQ Stock Market LLC | |||||||||||||||||
American Electric Power Company Inc. | 6.125% Corporate Units | AEPPZ | The NASDAQ Stock Market LLC |
Indicate by check mark whether the registrants (1) have filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrants were required to file such reports), and (2) have been subject to such filing requirements for the past 90 days. | |||||||||||||||||
Yes | x | No | ☐ |
Indicate by check mark whether the registrants have submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrants were required to submit such files). | |||||||||||||||||
Yes | x | No | ☐ |
Indicate by check mark whether American Electric Power Company, Inc. is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act. | |||||||||||||||||||||||
Large Accelerated filer | x | Accelerated filer | ☐ | Non-accelerated filer | ☐ | ||||||||||||||||||
Smaller reporting company | ☐ | Emerging growth company | ☐ |
Indicate by check mark whether AEP Texas Inc., AEP Transmission Company, LLC, Appalachian Power Company, Indiana Michigan Power Company, Ohio Power Company, Public Service Company of Oklahoma and Southwestern Electric Power Company are large accelerated filers, accelerated filers, non-accelerated filers, smaller reporting companies, or emerging growth companies. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act. | |||||||||||||||||||||||
Large Accelerated filer | ☐ | Accelerated filer | ☐ | Non-accelerated filer | x | ||||||||||||||||||
Smaller reporting company | ☐ | Emerging growth company | ☐ |
If an emerging growth company, indicate by check mark if the registrants have elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. | |||||||||||||||||
☐ |
Indicate by check mark whether the registrants are shell companies (as defined in Rule 12b-2 of the Exchange Act). | Yes | ☐ | No | x |
Number of shares of common stock outstanding of the Registrants as of | |||||
American Electric Power Company, Inc. | |||||
($6.50 par value) | |||||
AEP Texas Inc. | 100 | ||||
($0.01 par value) | |||||
AEP Transmission Company, LLC (a) | NA | ||||
Appalachian Power Company | 13,499,500 | ||||
(no par value) | |||||
Indiana Michigan Power Company | 1,400,000 | ||||
(no par value) | |||||
Ohio Power Company | 27,952,473 | ||||
(no par value) | |||||
Public Service Company of Oklahoma | 9,013,000 | ||||
($15 par value) | |||||
Southwestern Electric Power Company | 3,680 | ||||
($18 par value) |
AMERICAN ELECTRIC POWER COMPANY, INC. AND SUBSIDIARY COMPANIES | ||||||||||||||
INDEX OF QUARTERLY REPORTS ON FORM 10-Q | ||||||||||||||
Page | ||||||||||||||
Number | ||||||||||||||
Glossary of Terms | ||||||||||||||
Forward-Looking Information | ||||||||||||||
Part I. FINANCIAL INFORMATION | ||||||||||||||
Items 1, 2, 3 and 4 - Financial Statements, Management’s Discussion and Analysis of Financial Condition and Results of Operations, Quantitative and Qualitative Disclosures About Market Risk, and Controls and Procedures: | ||||||||||||||
American Electric Power Company, Inc. and Subsidiary Companies: | ||||||||||||||
Management’s Discussion and Analysis of Financial Condition and Results of Operations | ||||||||||||||
Condensed Consolidated Financial Statements | ||||||||||||||
AEP Texas Inc. and Subsidiaries: | ||||||||||||||
Management’s Narrative Discussion and Analysis of Results of Operations | ||||||||||||||
Condensed Consolidated Financial Statements | ||||||||||||||
AEP Transmission Company, LLC and Subsidiaries: | ||||||||||||||
Management’s Narrative Discussion and Analysis of Results of Operations | ||||||||||||||
Condensed Consolidated Financial Statements | ||||||||||||||
Appalachian Power Company and Subsidiaries: | ||||||||||||||
Management’s Narrative Discussion and Analysis of Results of Operations | ||||||||||||||
Condensed Consolidated Financial Statements | ||||||||||||||
Indiana Michigan Power Company and Subsidiaries: | ||||||||||||||
Management’s Narrative Discussion and Analysis of Results of Operations | ||||||||||||||
Condensed Consolidated Financial Statements | ||||||||||||||
Ohio Power Company and Subsidiaries: | ||||||||||||||
Management’s Narrative Discussion and Analysis of Results of Operations | ||||||||||||||
Condensed Consolidated Financial Statements | ||||||||||||||
Public Service Company of Oklahoma: | ||||||||||||||
Management’s Narrative Discussion and Analysis of Results of Operations | ||||||||||||||
Condensed Financial Statements | ||||||||||||||
Southwestern Electric Power Company Consolidated: | ||||||||||||||
Management’s Narrative Discussion and Analysis of Results of Operations | ||||||||||||||
Condensed Consolidated Financial Statements | ||||||||||||||
Index of Condensed Notes to Condensed Financial Statements of Registrants | ||||||||||||||
Controls and Procedures |
Part II. OTHER INFORMATION | ||||||||||||||
Item 1. | Legal Proceedings | |||||||||||||
Item 1A. | Risk Factors | |||||||||||||
Item 2. | Unregistered Sales of Equity Securities and Use of Proceeds | |||||||||||||
Item 3. | Defaults Upon Senior Securities | |||||||||||||
Item 4. | Mine Safety Disclosures | |||||||||||||
Item 5. | Other Information | |||||||||||||
Item 6. | Exhibits | |||||||||||||
SIGNATURE | ||||||||||||||
This combined Form 10-Q is separately filed by American Electric Power Company, Inc., AEP Texas Inc., AEP Transmission Company, LLC, Appalachian Power Company, Indiana Michigan Power Company, Ohio Power Company, Public Service Company of Oklahoma and Southwestern Electric Power Company. Information contained herein relating to any individual registrant is filed by such registrant on its own behalf. Each registrant makes no representation as to information relating to the other registrants. |
Term | Meaning | |||||||
AEGCo | AEP Generating Company, an AEP electric utility subsidiary. | |||||||
AEP | American Electric Power Company, Inc., an investor-owned electric public utility holding company which includes American Electric Power Company, Inc. (Parent) and majority owned consolidated subsidiaries and consolidated affiliates. | |||||||
AEP Credit | AEP Credit, Inc., a consolidated VIE of AEP which securitizes accounts receivable and accrued utility revenues for affiliated electric utility companies. | |||||||
AEP System | American Electric Power System, an electric system, owned and operated by AEP subsidiaries. | |||||||
AEP Texas | AEP Texas Inc., an AEP electric utility subsidiary. | |||||||
AEP Transmission Holdco | AEP Transmission Holding Company, LLC, a wholly-owned subsidiary of AEP. | |||||||
AEPEP | AEP Energy Partners, Inc., a subsidiary of AEP dedicated to wholesale marketing and trading, hedging activities, asset management and commercial and industrial sales in deregulated markets. | |||||||
AEPRO | AEP River Operations, LLC, a commercial barge operation sold in November 2015. | |||||||
AEPSC | American Electric Power Service Corporation, an AEP service subsidiary providing management and professional services to AEP and its subsidiaries. | |||||||
AEPTCo | AEP Transmission Company, LLC, a wholly-owned subsidiary of AEP Transmission Holdco, is an intermediate holding company that owns the State Transcos. | |||||||
AEPTCo Parent | AEP Transmission Company, LLC, the holding company of the State Transcos within the AEPTCo consolidation. | |||||||
AFUDC | Allowance for Equity Funds Used During Construction. | |||||||
AGR | AEP Generation Resources Inc., a competitive AEP subsidiary in the Generation & Marketing segment. | |||||||
ALJ | Administrative Law Judge. | |||||||
AMI | Advanced Metering Infrastructure. | |||||||
AMR | Automated Meter Reading. | |||||||
AOCI | Accumulated Other Comprehensive Income. | |||||||
APCo | Appalachian Power Company, an AEP electric utility subsidiary. | |||||||
Appalachian Consumer Rate Relief Funding | Appalachian Consumer Rate Relief Funding LLC, a wholly-owned subsidiary of APCo and a consolidated VIE formed for the purpose of issuing and servicing securitization bonds related to the under-recovered Expanded Net Energy Cost deferral balance. | |||||||
APSC | Arkansas Public Service Commission. | |||||||
ARO | Asset Retirement Obligations. | |||||||
ASU | Accounting Standards Update. | |||||||
CAA | Clean Air Act. | |||||||
CARES Act | Coronavirus Aid, Relief, and Economic Security Act signed into law in March 2020. | |||||||
CCR | Coal Combustion Residual. | |||||||
CLECO | Central Louisiana Electric Company, a nonaffiliated utility company. | |||||||
CO2 | Carbon dioxide and other greenhouse gases. | |||||||
Conesville Plant | A retired, single unit coal-fired generation plant totaling 651 MW located in Conesville, Ohio. The plant was jointly-owned by AGR and a nonaffiliate. |
Term | Meaning | |||||||
Cook Plant | Donald C. Cook Nuclear Plant, a two-unit, 2,288 MW nuclear plant owned by I&M. | |||||||
COVID-19 | Coronavirus 2019, a highly infectious respiratory disease. In March 2020, the World Health Organization declared COVID-19 a worldwide pandemic. | |||||||
CSAPR | Cross-State Air Pollution Rule. | |||||||
CWIP | Construction Work in Progress. | |||||||
DCC Fuel | DCC Fuel | |||||||
Desert Sky |
Desert Sky Wind Farm LLC, a 170 MW wind electricity generation facility located on Indian Mesa in Pecos County, Texas in which AEP owns a 100% interest. | ||||||||
DHLC | Dolet Hills Lignite Company, LLC, a wholly-owned lignite mining subsidiary of SWEPCo. DHLC is a non-consolidated VIE of SWEPCo. | |||||||
DIR | Distribution Investment Rider. | |||||||
EIS | Energy Insurance Services, Inc., a nonaffiliated captive insurance company and consolidated VIE of AEP. | |||||||
ELG | Effluent Limitation Guidelines. | |||||||
Energy Supply | AEP Energy Supply LLC, a nonregulated holding company for AEP’s competitive generation, wholesale and retail businesses, and a wholly-owned subsidiary of AEP. | |||||||
Equity Units | AEP’s Equity Units issued in August 2020 and March 2019. | |||||||
ERCOT | Electric Reliability Council of Texas regional transmission organization. | |||||||
ESP | Electric Security Plans, a PUCO requirement for electric utilities to adjust their rates by filing with the PUCO. | |||||||
ETT | Electric Transmission Texas, LLC, an equity interest joint venture between AEP Transmission Holdco and Berkshire Hathaway Energy Company formed to own and operate electric transmission facilities in ERCOT. | |||||||
Excess ADIT | Excess accumulated deferred income taxes. | |||||||
FAC | Fuel Adjustment Clause | |||||||
FASB | Financial Accounting Standards Board. | |||||||
Federal EPA | United States Environmental Protection Agency. | |||||||
FERC | Federal Energy Regulatory Commission. | |||||||
FGD | Flue Gas Desulfurization or scrubbers. | |||||||
FIP | Federal Implementation Plan. | |||||||
FTR | Financial Transmission Right, a financial instrument that entitles the holder to receive compensation for certain congestion-related transmission charges that arise when the power grid is congested resulting in differences in locational prices. | |||||||
GAAP | Accounting Principles Generally Accepted in the United States of America. | |||||||
I&M | Indiana Michigan Power Company, an AEP electric utility subsidiary. | |||||||
IRS | Internal Revenue Service. | |||||||
IURC | Indiana Utility Regulatory Commission. | |||||||
KGPCo | Kingsport Power Company, an AEP electric utility subsidiary. | |||||||
KPCo | Kentucky Power Company, an AEP electric utility subsidiary. | |||||||
KPSC | Kentucky Public Service Commission. | |||||||
KTCo | AEP Kentucky Transmission Company, Inc., a wholly-owned AEPTCo transmission subsidiary. | |||||||
KWh | Kilowatt-hour. |
Term | Meaning | |||||||||||||
LPSC | Louisiana Public Service Commission. | |||||||||||||
MATS | Mercury and Air Toxic Standards. | |||||||||||||
Maverick | Maverick, part of the North Central Wind Energy Facilities, consists of 287 MWs of wind generation in Oklahoma. | |||||||||||||
MISO | Midcontinent Independent System Operator. | |||||||||||||
MMBtu | Million British Thermal Units. | |||||||||||||
MPSC | Michigan Public Service Commission. | |||||||||||||
MTM | Mark-to-Market. | |||||||||||||
MW | Megawatt. | |||||||||||||
MWh | Megawatt-hour. | |||||||||||||
NAAQS | National Ambient Air Quality Standards. | |||||||||||||
Nonutility Money Pool | Centralized funding mechanism AEP uses to meet the short-term cash requirements of certain nonutility subsidiaries. | |||||||||||||
NCWF | North Central Wind Energy Facilities, | |||||||||||||
NOx | Nitrogen oxide. | |||||||||||||
NSR | New Source Review. | |||||||||||||
OCC | Corporation Commission of the State of Oklahoma. | |||||||||||||
Oklaunion Power Station | A retired, single unit coal-fired generation plant totaling 650 MW located in Vernon, Texas. The plant was jointly-owned by AEP Texas, PSO and certain nonaffiliated entities. | |||||||||||||
OPCo | Ohio Power Company, an AEP electric utility subsidiary. |
OPEB | Other Postretirement Benefits. | |||||||
OTC | Over-the-counter. | |||||||
OVEC | Ohio Valley Electric Corporation, which is 43.47% owned by AEP. | |||||||
Parent | American Electric Power Company, Inc., the equity owner of AEP subsidiaries within the AEP consolidation. | |||||||
PATH-WV | PATH West Virginia Transmission Company, LLC, a joint venture owned 50% by FirstEnergy and 50% by AEP. | |||||||
PJM | Pennsylvania – New Jersey – Maryland regional transmission organization. | |||||||
PM | Particulate Matter. | |||||||
PPA | Purchase Power and Sale Agreement. | |||||||
PSO | Public Service Company of Oklahoma, an AEP electric utility subsidiary. | |||||||
PTC | Production Tax Credits. | |||||||
PUCO | Public Utilities Commission of Ohio. | |||||||
PUCT | Public Utility Commission of Texas. | |||||||
Racine | A generation plant consisting of two hydroelectric generating units totaling 48 MWs located in Racine, Ohio and owned by AGR. | |||||||
Registrant Subsidiaries | AEP subsidiaries which are SEC registrants: AEP Texas, AEPTCo, APCo, I&M, OPCo, PSO and SWEPCo. | |||||||
Registrants | SEC registrants: AEP, AEP Texas, AEPTCo, APCo, I&M, OPCo, PSO and SWEPCo. |
Term | Meaning | |||||||
Restoration Funding | AEP Texas Restoration Funding LLC, a wholly-owned subsidiary of AEP Texas and a consolidated VIE formed for the purpose of issuing and servicing securitization bonds related to storm restoration in Texas primarily caused by Hurricane Harvey. | |||||||
Risk Management Contracts | Trading and non-trading derivatives, including those derivatives designated as cash flow and fair value hedges. | |||||||
Rockport Plant | A generation plant, consisting of two 1,310 MW coal-fired generating units near Rockport, Indiana. AEGCo and I&M jointly-own Unit 1. In 1989, AEGCo and I&M entered into a sale-and-leaseback transaction with Wilmington Trust Company, an unrelated, unconsolidated trustee for Rockport Plant, Unit 2. | |||||||
ROE | Return on Equity. | |||||||
RPM | Reliability Pricing Model. | |||||||
RTO | Regional Transmission Organization, responsible for moving electricity over large interstate areas. | |||||||
Sabine | Sabine Mining Company, a lignite mining company that is a consolidated VIE for AEP and SWEPCo. | |||||||
SEC | U.S. Securities and Exchange Commission. | |||||||
Sempra Renewables LLC | Sempra Renewables LLC, acquired in April 2019, consists of 724 MWs of wind generation and battery assets in the United States. | |||||||
SIP | State Implementation Plan. | |||||||
SNF | Spent Nuclear Fuel. | |||||||
SO2 | Sulfur dioxide. | |||||||
SPP | Southwest Power Pool regional transmission organization. | |||||||
State Transcos | AEPTCo’s seven wholly-owned, FERC regulated, transmission only electric utilities, which are geographically aligned with AEP’s existing utility operating companies. | |||||||
Sundance | Sundance, acquired in April 2021 as part of the North Central Wind Energy Facilities, consists of 199 MWs of wind generation in Oklahoma. | |||||||
SWEPCo | Southwestern Electric Power Company, an AEP electric utility subsidiary. | |||||||
Tax Reform | On December 22, 2017, President Trump signed into law legislation referred to as the “Tax Cuts and Jobs Act” (the TCJA). The TCJA includes significant changes to the Internal Revenue Code of 1986, including a reduction in the corporate federal income tax rate from 35% to 21% effective January 1, 2018. | |||||||
Transition Funding | AEP Texas Central Transition Funding II LLC and AEP Texas Central Transition Funding III LLC, wholly-owned subsidiaries of TCC and consolidated VIE formed for the purpose of issuing and servicing securitization bonds related to Texas Restructuring Legislation. In July 2020, the final AEP Texas Central Transition Funding II securitization bond matured. | |||||||
Transource Energy | Transource Energy, LLC, a consolidated VIE formed for the purpose of investing in utilities which develop, acquire, construct, own and operate transmission facilities in accordance with FERC-approved rates. | |||||||
Traverse | Traverse, part of the North Central Wind Energy Facilities, consists of 999 MWs of wind generation in Oklahoma. | |||||||
Trent | Trent Wind Farm LLC, a 156 MW wind electricity generation facility located between Abilene and Sweetwater in West Texas in which AEP owns a 100% interest. | |||||||
Turk Plant | John W. Turk, Jr. Plant, a 650 MW coal-fired plant in Arkansas that is 73% owned by SWEPCo. | |||||||
Utility Money Pool | Centralized funding mechanism AEP uses to meet the short-term cash requirements of certain utility subsidiaries. |
Term | Meaning | |||||||
VIE | Variable Interest Entity. | |||||||
Virginia SCC | Virginia State Corporation Commission. | |||||||
WPCo | Wheeling Power Company, an AEP electric utility subsidiary. | |||||||
WVPSC | Public Service Commission of West Virginia. |
• | Changes in economic conditions, electric market demand and demographic patterns in AEP service territories. | ||||
• | The impact of pandemics, including COVID-19, and any associated disruption of AEP’s business operations due to impacts on economic or market conditions, costs of compliance with vaccination or testing mandates to AEP, electricity usage, employees including employee reactions to potential vaccination mandates, customers, service providers, vendors and suppliers. | ||||
• | Inflationary or deflationary interest rate trends. | ||||
• | Volatility in the financial markets, particularly developments affecting the availability or cost of capital to finance new capital projects and refinance existing debt. | ||||
• | The availability and cost of funds to finance working capital and capital needs, particularly during periods when the time lag between incurring costs and recovery is long and the costs are material. | ||||
• | Decreased demand for electricity. | ||||
• | Weather conditions, including storms and drought conditions, and the ability to recover significant storm restoration costs. | ||||
• | The cost of fuel and its transportation, the creditworthiness and performance of fuel suppliers and transporters and the cost of storing and disposing of used fuel, including coal ash and SNF. | ||||
• | The availability of fuel and necessary generation capacity and the performance of generation plants. | ||||
• | The ability to recover fuel and other energy costs through regulated or competitive electric rates. | ||||
• | The ability to build or acquire renewable generation, transmission lines and facilities (including the ability to obtain any necessary regulatory approvals and permits) when needed at acceptable prices and terms, including favorable tax treatment, and to recover those costs. | ||||
• | New legislation, litigation and government regulation, including changes to tax laws and regulations, oversight of nuclear generation, energy commodity trading and new or heightened requirements for reduced emissions of sulfur, nitrogen, mercury, carbon, soot or PM and other substances that could impact the continued operation, cost recovery and/or profitability of generation plants and related assets. | ||||
• | Evolving public perception of the risks associated with fuels used before, during and after the generation of electricity, including coal ash and nuclear fuel. | ||||
• | Timing and resolution of pending and future rate cases, negotiations and other regulatory decisions, including rate or other recovery of new investments in generation, distribution and transmission service and environmental compliance. | ||||
• | Resolution of litigation. | ||||
• | The ability to constrain operation and maintenance costs. | ||||
• | Prices and demand for power generated and sold at wholesale. | ||||
• | Changes in technology, particularly with respect to energy storage and new, developing, alternative or distributed sources of generation. | ||||
• | The ability to recover through rates any remaining unrecovered investment in generation units that may be retired before the end of their previously projected useful lives. | ||||
• | Volatility and changes in markets for coal and other energy-related commodities, particularly changes in the price of natural gas. | ||||
• | Changes in utility regulation and the allocation of costs within RTOs including ERCOT, PJM and SPP. |
• | Changes in the creditworthiness of the counterparties with contractual arrangements, including participants in the energy trading market. | ||||
• | Actions of rating agencies, including changes in the ratings of debt. | ||||
• | The impact of volatility in the capital markets on the value of the investments held by the pension, OPEB, captive insurance entity and nuclear decommissioning trust and the impact of such volatility on future funding requirements. |
• | Accounting standards periodically issued by accounting standard-setting bodies. | ||||
• | Other risks and unforeseen events, including wars, the effects of terrorism (including increased security costs), embargoes, naturally occurring and human-caused fires, cyber- security threats and other catastrophic events. | ||||
• | The ability to attract and retain the requisite work force and key personnel. |
Approved Revenue | Approved | New Rates | |||||||||||||||||||||||||||
Company | Jurisdiction | Requirement Increase | ROE | Effective | |||||||||||||||||||||||||
(in millions) | |||||||||||||||||||||||||||||
KPCo | Kentucky | $ | 52.7 | (a) | 9.3% | January 2021 | |||||||||||||||||||||||
Commission Staff/ | Commission Staff/ | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Filing | Requested Revenue | Requested | Intervenor Range of | Filing | Requested Revenue | Requested | Intervenor Range of | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Company | Company | Jurisdiction | Date | Requirement Increase | ROE | Recommended ROE | Company | Jurisdiction | Date | Requirement Increase | ROE | Recommended ROE | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(in millions) | (in millions) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
OPCo | OPCo | Ohio | June 2020 | $ | 42.3 | 10.15% | 8.76%-9.78% | (a) | OPCo | Ohio | June 2020 | $ | 42.3 | 10.15% | 8.76%-9.78% | (a) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
SWEPCo | SWEPCo | Texas | October 2020 | 105.0 | (b) | 10.35% | 9%-9.22% | (c) | SWEPCo | Texas | October 2020 | 100.4 | (b) | 10.35% | 9%-9.22% | (c) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
SWEPCo | SWEPCo | Louisiana | December 2020 | 134.0 | 10.35% | (d) | SWEPCo | Louisiana | December 2020 | 94.7 | 10.35% | 9.1%-9.8% | (d) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
PSO | PSO | Oklahoma | April 2021 | 127.5 | 10% | 9%-9.4% | (e) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
I&M | I&M | Indiana | July 2021 | 104.0 | (f) | 10% | 9.1%-9.3% | (g) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
SWEPCo | SWEPCo | Arkansas | July 2021 | 85.0 | 10.35% | (h) |
Company | Company | Plant Name and Unit | Generating Capacity | Net Book Value (a) | Projected Retirement Date | Company | Plant Name and Unit | Generating Capacity | Net Book Value (a) | Projected Retirement Date | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(in MWs) | (in millions) | (in MWs) | (in millions) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
AEGCo | AEGCo | Rockport Plant, Unit 1 | 655 | $ | 232.0 | 2028 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
APCo | APCo | Amos | 2,930 | $ | 2,149.4 | 2040 | APCo | Amos | 2,930 | 2,111.7 | 2040 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
APCo | APCo | Mountaineer | 1,320 | 971.2 | 2040 | APCo | Mountaineer | 1,320 | 962.3 | 2040 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
I&M | I&M | Rockport Plant, Unit 1 | 655 | 525.1 | (b) | 2028 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
KPCo | KPCo | Mitchell Plant | 780 | 586.5 | 2040 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
SWEPCo | SWEPCo | Flint Creek Plant | 258 | 275.7 | 2038 | SWEPCo | Flint Creek Plant | 258 | 269.2 | 2038 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
KPCo | Mitchell Plant | 780 | 599.9 | 2040 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
WPCo | WPCo | Mitchell Plant | 780 | 597.9 | 2040 | WPCo | Mitchell Plant | 780 | 588.9 | 2040 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
AEGCo | Rockport Plant, Unit 1 | 655 | 242.2 | 2028 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
I&M | Rockport Plant, Unit 1 | 655 | 558.2 | (b) | 2028 |
Company | Company | Plant Name and Unit | Generating Capacity | Net Investment (a) | Accelerated Depreciation Regulatory Asset | Projected Retirement Date | Company | Plant Name and Unit | Generating Capacity | Net Investment (a) | Accelerated Depreciation Regulatory Asset | Projected Retirement Date | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(in MWs) | (in millions) | (in MWs) | (in millions) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
SWEPCo | SWEPCo | Pirkey Power Plant | 580 | $ | 178.3 | $ | 30.8 | 2023 (b) | SWEPCo | Pirkey Power Plant | 580 | $ | 135.4 | $ | 68.0 | 2023 (b) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
SWEPCo | SWEPCo | Welsh Plants, Units 1 and 3 | 1,053 | 528.8 | 14.2 | 2028 (c)(d) | SWEPCo | Welsh Plants, Units 1 and 3 | 1,053 | 493.7 | 35.6 | 2028 (c)(d) |
Company | Company | Plant | Net Investment (a) | Accelerated Depreciation Regulatory Asset | Actual/Projected Retirement Date | Current Authorized Recovery Period | Annual Depreciation (b) | Company | Plant | Net Investment (a) | Accelerated Depreciation Regulatory Asset | Actual/Projected Retirement Date | Current Authorized Recovery Period | Annual Depreciation (b) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(in millions) | (in millions) | (in millions) | (in millions) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
SWEPCo | Dolet Hills Power Station | $ | 51.3 | $ | 92.6 | 2021 | (c) | $ | 7.7 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
PSO | PSO | Northeastern Plant, Unit 3 | 190.5 | 114.8 | 2026 | (d) | 14.9 | PSO | Northeastern Plant, Unit 3 | $ | 175.1 | $ | 123.6 | 2026 | (c) | $ | 14.9 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
PSO | PSO | Oklaunion Power Station | — | 34.0 | 2020 | (e) | 0.4 | PSO | Oklaunion Power Station | — | 33.0 | 2020 | (d) | 2.0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
SWEPCo | SWEPCo | Pirkey Power Plant | 178.3 | 30.8 | 2023 | (f) | 13.7 | SWEPCo | Dolet Hills Power Station | 13.0 | 126.8 | 2021 | (e) | 7.7 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
SWEPCo | SWEPCo | Welsh Plant, Units 1 and 3 | 528.8 | 14.2 | 2028 (g) | (h) | 33.3 | SWEPCo | Pirkey Power Plant | 135.4 | 68.0 | 2023 | (f) | 13.4 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
SWEPCo | SWEPCo | Welsh Plant, Unit 2 | — | 35.2 | 2016 | (i) | — | SWEPCo | Welsh Plant, Units 1 and 3 | 493.7 | 35.6 | 2028 (g) | (h) | 32.9 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
SWEPCo | SWEPCo | Welsh Plant, Unit 2 | — | 35.2 | 2016 | (i) | — |
Three Months Ended | Nine Months Ended | |||||||||||||||||||||||||||||||||||||||||||||
Three Months Ended March 31, | September 30, | September 30, | ||||||||||||||||||||||||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | 2021 | 2020 | |||||||||||||||||||||||||||||||||||||||||
(in millions) | (in millions) | |||||||||||||||||||||||||||||||||||||||||||||
Vertically Integrated Utilities | Vertically Integrated Utilities | $ | 270.4 | $ | 245.3 | Vertically Integrated Utilities | $ | 437.7 | $ | 393.5 | $ | 936.3 | $ | 894.7 | ||||||||||||||||||||||||||||||||
Transmission and Distribution Utilities | Transmission and Distribution Utilities | 114.4 | 116.2 | Transmission and Distribution Utilities | 155.9 | 147.4 | 424.0 | 403.1 | ||||||||||||||||||||||||||||||||||||||
AEP Transmission Holdco | AEP Transmission Holdco | 172.0 | 140.6 | AEP Transmission Holdco | 166.8 | 138.3 | 507.5 | 370.4 | ||||||||||||||||||||||||||||||||||||||
Generation & Marketing | Generation & Marketing | 36.6 | 28.4 | Generation & Marketing | 100.7 | 116.7 | 189.7 | 211.0 | ||||||||||||||||||||||||||||||||||||||
Corporate and Other | Corporate and Other | (18.4) | (35.3) | Corporate and Other | (65.1) | (47.3) | (108.3) | (114.6) | ||||||||||||||||||||||||||||||||||||||
Earnings Attributable to AEP Common Shareholders | Earnings Attributable to AEP Common Shareholders | $ | 575.0 | $ | 495.2 | Earnings Attributable to AEP Common Shareholders | $ | 796.0 | $ | 748.6 | $ | 1,949.2 | $ | 1,764.6 |
Three Months Ended | Three Months Ended | Nine Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||
March 31, | September 30, | September 30, | ||||||||||||||||||||||||||||||||||||||||||||||||||
Vertically Integrated Utilities | Vertically Integrated Utilities | 2021 | 2020 | Vertically Integrated Utilities | 2021 | 2020 | 2021 | 2020 | ||||||||||||||||||||||||||||||||||||||||||||
(in millions) | (in millions) | |||||||||||||||||||||||||||||||||||||||||||||||||||
Revenues | Revenues | $ | 2,537.3 | $ | 2,226.7 | Revenues | $ | 2,759.3 | $ | 2,434.8 | $ | 7,557.2 | $ | 6,753.5 | ||||||||||||||||||||||||||||||||||||||
Fuel and Purchased Electricity | Fuel and Purchased Electricity | 859.0 | 671.2 | Fuel and Purchased Electricity | 855.3 | 693.7 | 2,364.7 | 1,947.0 | ||||||||||||||||||||||||||||||||||||||||||||
Gross Margin | Gross Margin | 1,678.3 | 1,555.5 | Gross Margin | 1,904.0 | 1,741.1 | 5,192.5 | 4,806.5 | ||||||||||||||||||||||||||||||||||||||||||||
Other Operation and Maintenance | Other Operation and Maintenance | 740.2 | 691.3 | Other Operation and Maintenance | 796.9 | 715.9 | 2,240.6 | 2,031.8 | ||||||||||||||||||||||||||||||||||||||||||||
Depreciation and Amortization | Depreciation and Amortization | 432.1 | 381.7 | Depreciation and Amortization | 436.3 | 398.8 | 1,302.2 | 1,173.8 | ||||||||||||||||||||||||||||||||||||||||||||
Taxes Other Than Income Taxes | Taxes Other Than Income Taxes | 123.5 | 117.1 | Taxes Other Than Income Taxes | 124.1 | 121.0 | 375.6 | 355.6 | ||||||||||||||||||||||||||||||||||||||||||||
Operating Income | Operating Income | 382.5 | 365.4 | Operating Income | 546.7 | 505.4 | 1,274.1 | 1,245.3 | ||||||||||||||||||||||||||||||||||||||||||||
Other Income | 0.7 | 1.6 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Other Income (Expense) | Other Income (Expense) | 4.1 | (0.7) | 9.9 | 2.3 | |||||||||||||||||||||||||||||||||||||||||||||||
Allowance for Equity Funds Used During Construction | Allowance for Equity Funds Used During Construction | 9.9 | 8.2 | Allowance for Equity Funds Used During Construction | 9.6 | 15.9 | 30.3 | 33.1 | ||||||||||||||||||||||||||||||||||||||||||||
Non-Service Cost Components of Net Periodic Benefit Cost | Non-Service Cost Components of Net Periodic Benefit Cost | 17.0 | 16.9 | Non-Service Cost Components of Net Periodic Benefit Cost | 17.0 | 16.9 | 51.0 | 50.9 | ||||||||||||||||||||||||||||||||||||||||||||
Interest Expense | Interest Expense | (139.6) | (144.5) | Interest Expense | (144.3) | (140.2) | (425.5) | (426.5) | ||||||||||||||||||||||||||||||||||||||||||||
Income Before Income Tax Expense (Benefit) and Equity Earnings | Income Before Income Tax Expense (Benefit) and Equity Earnings | 270.5 | 247.6 | Income Before Income Tax Expense (Benefit) and Equity Earnings | 433.1 | 397.3 | 939.8 | 905.1 | ||||||||||||||||||||||||||||||||||||||||||||
Income Tax Expense (Benefit) | Income Tax Expense (Benefit) | (0.2) | 2.1 | Income Tax Expense (Benefit) | (4.6) | 3.8 | 3.4 | 10.5 | ||||||||||||||||||||||||||||||||||||||||||||
Equity Earnings of Unconsolidated Subsidiary | Equity Earnings of Unconsolidated Subsidiary | 0.7 | 0.8 | Equity Earnings of Unconsolidated Subsidiary | 1.0 | 0.7 | 2.5 | 2.2 | ||||||||||||||||||||||||||||||||||||||||||||
Net Income | Net Income | 271.4 | 246.3 | Net Income | 438.7 | 394.2 | 938.9 | 896.8 | ||||||||||||||||||||||||||||||||||||||||||||
Net Income Attributable to Noncontrolling Interests | Net Income Attributable to Noncontrolling Interests | 1.0 | 1.0 | Net Income Attributable to Noncontrolling Interests | 1.0 | 0.7 | 2.6 | 2.1 | ||||||||||||||||||||||||||||||||||||||||||||
Earnings Attributable to AEP Common Shareholders | Earnings Attributable to AEP Common Shareholders | $ | 270.4 | $ | 245.3 | Earnings Attributable to AEP Common Shareholders | $ | 437.7 | $ | 393.5 | $ | 936.3 | $ | 894.7 |
Three Months Ended | Nine Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||
Three Months Ended March 31, | September 30, | September 30, | ||||||||||||||||||||||||||||||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | 2021 | 2020 | |||||||||||||||||||||||||||||||||||||||||||||||
(in millions of KWhs) | (in millions of KWhs) | |||||||||||||||||||||||||||||||||||||||||||||||||||
Retail: | Retail: | Retail: | ||||||||||||||||||||||||||||||||||||||||||||||||||
Residential | Residential | 9,481 | 8,262 | Residential | 9,119 | 9,066 | 25,125 | 24,304 | ||||||||||||||||||||||||||||||||||||||||||||
Commercial | Commercial | 5,258 | 5,366 | Commercial | 6,468 | 6,257 | 17,396 | 16,773 | ||||||||||||||||||||||||||||||||||||||||||||
Industrial | Industrial | 7,702 | 8,475 | Industrial | 8,485 | 8,161 | 24,798 | 24,335 | ||||||||||||||||||||||||||||||||||||||||||||
Miscellaneous | Miscellaneous | 519 | 530 | Miscellaneous | 604 | 595 | 1,672 | 1,636 | ||||||||||||||||||||||||||||||||||||||||||||
Total Retail | Total Retail | 22,960 | 22,633 | Total Retail | 24,676 | 24,079 | 68,991 | 67,048 | ||||||||||||||||||||||||||||||||||||||||||||
Wholesale (a) | Wholesale (a) | 4,642 | 3,618 | Wholesale (a) | 5,713 | 4,574 | 14,842 | 13,116 | ||||||||||||||||||||||||||||||||||||||||||||
Total KWhs | Total KWhs | 27,602 | 26,251 | Total KWhs | 30,389 | 28,653 | 83,833 | 80,164 |
Three Months Ended | Nine Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||
Three Months Ended March 31, | September 30, | September 30, | ||||||||||||||||||||||||||||||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | 2021 | 2020 | |||||||||||||||||||||||||||||||||||||||||||||||
(in degree days) | (in degree days) | |||||||||||||||||||||||||||||||||||||||||||||||||||
Eastern Region | Eastern Region | Eastern Region | ||||||||||||||||||||||||||||||||||||||||||||||||||
Actual – Heating (a) | Actual – Heating (a) | 1,539 | 1,241 | Actual – Heating (a) | 1 | 3 | 1,710 | 1,456 | ||||||||||||||||||||||||||||||||||||||||||||
Normal – Heating (b) | Normal – Heating (b) | 1,600 | 1,611 | Normal – Heating (b) | 4 | 4 | 1,742 | 1,752 | ||||||||||||||||||||||||||||||||||||||||||||
Actual – Cooling (c) | Actual – Cooling (c) | 3 | 13 | Actual – Cooling (c) | 847 | 867 | 1,209 | 1,204 | ||||||||||||||||||||||||||||||||||||||||||||
Normal – Cooling (b) | Normal – Cooling (b) | 4 | 5 | Normal – Cooling (b) | 744 | 739 | 1,087 | 1,081 | ||||||||||||||||||||||||||||||||||||||||||||
Western Region | Western Region | Western Region | ||||||||||||||||||||||||||||||||||||||||||||||||||
Actual – Heating (a) | Actual – Heating (a) | 958 | 649 | Actual – Heating (a) | — | 1 | 993 | 699 | ||||||||||||||||||||||||||||||||||||||||||||
Normal – Heating (b) | Normal – Heating (b) | 866 | 867 | Normal – Heating (b) | 1 | 1 | 901 | 902 | ||||||||||||||||||||||||||||||||||||||||||||
Actual – Cooling (c) | Actual – Cooling (c) | 26 | 51 | Actual – Cooling (c) | 1,485 | 1,291 | 2,163 | 2,015 | ||||||||||||||||||||||||||||||||||||||||||||
Normal – Cooling (b) | Normal – Cooling (b) | 28 | 28 | Normal – Cooling (b) | 1,410 | 1,416 | 2,137 | 2,144 |
Reconciliation of | ||||||||
Earnings Attributable to AEP Common Shareholders from Vertically Integrated Utilities | ||||||||
(in millions) | ||||||||
$ | ||||||||
Changes in Gross Margin: | ||||||||
Retail Margins | ||||||||
Margins from Off-system Sales | ||||||||
Transmission Revenues | ||||||||
Other Revenues | ||||||||
Total Change in Gross Margin | ||||||||
Changes in Expenses and Other: | ||||||||
Other Operation and Maintenance | ||||||||
Depreciation and Amortization | ||||||||
Taxes Other Than Income Taxes | ||||||||
Other Income | ||||||||
Allowance for Equity Funds Used During Construction | ||||||||
Non-Service Cost Components of Net Periodic Pension Cost | 0.1 | |||||||
Interest Expense | ||||||||
Total Change in Expenses and Other | ||||||||
Income Tax Expense | ||||||||
Equity Earnings of Unconsolidated Subsidiary | ||||||||
Net Income Attributable to Noncontrolling Interests | (0.3) | |||||||
$ |
Reconciliation of Nine Months Ended September 30, 2020 to Nine Months Ended September 30, 2021 | ||||||||
Earnings Attributable to AEP Common Shareholders from Vertically Integrated Utilities | ||||||||
(in millions) | ||||||||
Nine Months Ended September 30, 2020 | $ | 894.7 | ||||||
Changes in Gross Margin: | ||||||||
Retail Margins | 336.7 | |||||||
Margins from Off-system Sales | 23.7 | |||||||
Transmission Revenues | 29.4 | |||||||
Other Revenues | (3.8) | |||||||
Total Change in Gross Margin | 386.0 | |||||||
Changes in Expenses and Other: | ||||||||
Other Operation and Maintenance | (208.8) | |||||||
Depreciation and Amortization | (128.4) | |||||||
Taxes Other Than Income Taxes | (20.0) | |||||||
Other Income | 7.6 | |||||||
Allowance for Equity Funds Used During Construction | (2.8) | |||||||
Non-Service Cost Components of Net Periodic Pension Cost | 0.1 | |||||||
Interest Expense | 1.0 | |||||||
Total Change in Expenses and Other | (351.3) | |||||||
Income Tax Expense | 7.1 | |||||||
Equity Earnings of Unconsolidated Subsidiary | 0.3 | |||||||
Net Income Attributable to Noncontrolling Interests | (0.5) | |||||||
Nine Months Ended September 30, 2021 | $ | 936.3 |
Three Months Ended | Three Months Ended | Nine Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||
March 31, | September 30, | September 30, | ||||||||||||||||||||||||||||||||||||||||||||||||||
Transmission and Distribution Utilities | Transmission and Distribution Utilities | 2021 | 2020 | Transmission and Distribution Utilities | 2021 | 2020 | 2021 | 2020 | ||||||||||||||||||||||||||||||||||||||||||||
(in millions) | (in millions) | |||||||||||||||||||||||||||||||||||||||||||||||||||
Revenues | Revenues | $ | 1,088.1 | $ | 1,106.9 | Revenues | $ | 1,200.3 | $ | 1,165.3 | $ | 3,391.8 | $ | 3,306.7 | ||||||||||||||||||||||||||||||||||||||
Purchased Electricity | Purchased Electricity | 205.5 | 191.4 | Purchased Electricity | 188.1 | 183.8 | 561.6 | 522.7 | ||||||||||||||||||||||||||||||||||||||||||||
Gross Margin | Gross Margin | 882.6 | 915.5 | Gross Margin | 1,012.2 | 981.5 | 2,830.2 | 2,784.0 | ||||||||||||||||||||||||||||||||||||||||||||
Other Operation and Maintenance | Other Operation and Maintenance | 365.2 | 367.2 | Other Operation and Maintenance | 442.6 | 439.1 | 1,168.6 | 1,158.2 | ||||||||||||||||||||||||||||||||||||||||||||
Depreciation and Amortization | Depreciation and Amortization | 172.7 | 214.5 | Depreciation and Amortization | 164.6 | 163.5 | 515.8 | 585.0 | ||||||||||||||||||||||||||||||||||||||||||||
Taxes Other Than Income Taxes | Taxes Other Than Income Taxes | 157.6 | 146.2 | Taxes Other Than Income Taxes | 167.5 | 156.4 | 483.5 | 444.4 | ||||||||||||||||||||||||||||||||||||||||||||
Operating Income | Operating Income | 187.1 | 187.6 | Operating Income | 237.5 | 222.5 | 662.3 | 596.4 | ||||||||||||||||||||||||||||||||||||||||||||
Interest and Investment Income | Interest and Investment Income | 0.4 | 0.7 | Interest and Investment Income | 0.4 | 0.9 | 1.1 | 2.0 | ||||||||||||||||||||||||||||||||||||||||||||
Carrying Costs Income | Carrying Costs Income | 0.5 | 0.4 | Carrying Costs Income | 0.1 | 0.3 | 1.1 | 1.3 | ||||||||||||||||||||||||||||||||||||||||||||
Allowance for Equity Funds Used During Construction | Allowance for Equity Funds Used During Construction | 6.8 | 7.0 | Allowance for Equity Funds Used During Construction | 11.3 | 9.0 | 24.3 | 23.7 | ||||||||||||||||||||||||||||||||||||||||||||
Non-Service Cost Components of Net Periodic Benefit Cost | Non-Service Cost Components of Net Periodic Benefit Cost | 7.3 | 7.3 | Non-Service Cost Components of Net Periodic Benefit Cost | 7.3 | 7.4 | 21.8 | 22.1 | ||||||||||||||||||||||||||||||||||||||||||||
Interest Expense | Interest Expense | (74.5) | (71.4) | Interest Expense | (77.3) | (74.0) | (228.8) | (217.6) | ||||||||||||||||||||||||||||||||||||||||||||
Income Before Income Tax Expense | Income Before Income Tax Expense | 127.6 | 131.6 | Income Before Income Tax Expense | 179.3 | 166.1 | 481.8 | 427.9 | ||||||||||||||||||||||||||||||||||||||||||||
Income Tax Expense | Income Tax Expense | 13.2 | 15.4 | Income Tax Expense | 23.4 | 18.7 | 57.8 | 24.8 | ||||||||||||||||||||||||||||||||||||||||||||
Net Income | Net Income | 114.4 | 116.2 | Net Income | 155.9 | 147.4 | 424.0 | 403.1 | ||||||||||||||||||||||||||||||||||||||||||||
Net Income Attributable to Noncontrolling Interests | Net Income Attributable to Noncontrolling Interests | — | — | Net Income Attributable to Noncontrolling Interests | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||
Earnings Attributable to AEP Common Shareholders | Earnings Attributable to AEP Common Shareholders | $ | 114.4 | $ | 116.2 | Earnings Attributable to AEP Common Shareholders | $ | 155.9 | $ | 147.4 | $ | 424.0 | $ | 403.1 |
Three Months Ended | Nine Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||
Three Months Ended March 31, | September 30, | September 30, | ||||||||||||||||||||||||||||||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | 2021 | 2020 | |||||||||||||||||||||||||||||||||||||||||||||||
(in millions of KWhs) | (in millions of KWhs) | |||||||||||||||||||||||||||||||||||||||||||||||||||
Retail: | Retail: | Retail: | ||||||||||||||||||||||||||||||||||||||||||||||||||
Residential | Residential | 6,924 | 6,300 | Residential | 8,093 | 8,277 | 21,082 | 20,876 | ||||||||||||||||||||||||||||||||||||||||||||
Commercial | Commercial | 5,576 | 5,873 | Commercial | 7,125 | 6,722 | 19,189 | 18,154 | ||||||||||||||||||||||||||||||||||||||||||||
Industrial | Industrial | 5,281 | 5,908 | Industrial | 6,048 | 5,417 | 17,667 | 16,473 | ||||||||||||||||||||||||||||||||||||||||||||
Miscellaneous | Miscellaneous | 166 | 182 | Miscellaneous | 207 | 206 | 558 | 568 | ||||||||||||||||||||||||||||||||||||||||||||
Total Retail (a) | Total Retail (a) | 17,947 | 18,263 | Total Retail (a) | 21,473 | 20,622 | 58,496 | 56,071 | ||||||||||||||||||||||||||||||||||||||||||||
Wholesale (b) | Wholesale (b) | 603 | 390 | Wholesale (b) | 644 | 502 | 1,692 | 1,347 | ||||||||||||||||||||||||||||||||||||||||||||
Total KWhs | Total KWhs | 18,550 | 18,653 | Total KWhs | 22,117 | 21,124 | 60,188 | 57,418 |
Three Months Ended | Nine Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||
Three Months Ended March 31, | September 30, | September 30, | ||||||||||||||||||||||||||||||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | 2021 | 2020 | |||||||||||||||||||||||||||||||||||||||||||||||
(in degree days) | (in degree days) | |||||||||||||||||||||||||||||||||||||||||||||||||||
Eastern Region | Eastern Region | Eastern Region | ||||||||||||||||||||||||||||||||||||||||||||||||||
Actual – Heating (a) | Actual – Heating (a) | 1,777 | 1,473 | Actual – Heating (a) | 1 | 2 | 1,993 | 1,767 | ||||||||||||||||||||||||||||||||||||||||||||
Normal – Heating (b) | Normal – Heating (b) | 1,883 | 1,898 | Normal – Heating (b) | 5 | 6 | 2,071 | 2,086 | ||||||||||||||||||||||||||||||||||||||||||||
Actual – Cooling (c) | Actual – Cooling (c) | — | 3 | Actual – Cooling (c) | 787 | 809 | 1,148 | 1,126 | ||||||||||||||||||||||||||||||||||||||||||||
Normal – Cooling (b) | Normal – Cooling (b) | 3 | 3 | Normal – Cooling (b) | 689 | 682 | 996 | 986 | ||||||||||||||||||||||||||||||||||||||||||||
Western Region | Western Region | Western Region | ||||||||||||||||||||||||||||||||||||||||||||||||||
Actual – Heating (a) | Actual – Heating (a) | 315 | 91 | Actual – Heating (a) | — | 1 | 319 | 98 | ||||||||||||||||||||||||||||||||||||||||||||
Normal – Heating (b) | Normal – Heating (b) | 185 | 185 | Normal – Heating (b) | — | — | 188 | 188 | ||||||||||||||||||||||||||||||||||||||||||||
Actual – Cooling (d) | Actual – Cooling (d) | 137 | 231 | Actual – Cooling (d) | 1,308 | 1,357 | 2,278 | 2,524 | ||||||||||||||||||||||||||||||||||||||||||||
Normal – Cooling (b) | Normal – Cooling (b) | 126 | 125 | Normal – Cooling (b) | 1,379 | 1,378 | 2,436 | 2,436 |
Reconciliation of | ||||||||
Earnings Attributable to AEP Common Shareholders from Transmission and Distribution Utilities | ||||||||
(in millions) | ||||||||
$ | ||||||||
Changes in Gross Margin: | ||||||||
Retail Margins | ||||||||
Margins from Off-system Sales | ||||||||
Transmission Revenues | ||||||||
Other Revenues | ||||||||
Total Change in Gross Margin | ||||||||
Changes in Expenses and Other: | ||||||||
Other Operation and Maintenance | ||||||||
Depreciation and Amortization | ||||||||
Taxes Other Than Income Taxes | ||||||||
Interest and Investment Income | ||||||||
Carrying Costs Income | ||||||||
Allowance for Equity Funds Used During Construction | ||||||||
Non-Service Cost Components of Net Periodic Benefit Cost | (0.1) | |||||||
Interest Expense | ||||||||
Total Change in Expenses and Other | ||||||||
Income Tax Expense | ||||||||
$ |
Reconciliation of Nine Months Ended September 30, 2020 to Nine Months Ended September 30, 2021 | ||||||||
Earnings Attributable to AEP Common Shareholders from Transmission and Distribution Utilities | ||||||||
(in millions) | ||||||||
Nine Months Ended September 30, 2020 | $ | 403.1 | ||||||
Changes in Gross Margin: | ||||||||
Retail Margins | 146.3 | |||||||
Margins from Off-system Sales | (87.2) | |||||||
Transmission Revenues | 69.9 | |||||||
Other Revenues | (82.8) | |||||||
Total Change in Gross Margin | 46.2 | |||||||
Changes in Expenses and Other: | ||||||||
Other Operation and Maintenance | (10.4) | |||||||
Depreciation and Amortization | 69.2 | |||||||
Taxes Other Than Income Taxes | (39.1) | |||||||
Interest and Investment Income | (0.9) | |||||||
Carrying Costs Income | (0.2) | |||||||
Allowance for Equity Funds Used During Construction | 0.6 | |||||||
Non-Service Cost Components of Net Periodic Benefit Cost | (0.3) | |||||||
Interest Expense | (11.2) | |||||||
Total Change in Expenses and Other | 7.7 | |||||||
Income Tax Expense | (33.0) | |||||||
Nine Months Ended September 30, 2021 | $ | 424.0 |
Three Months Ended | Three Months Ended | Nine Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||
March 31, | September 30, | September 30, | ||||||||||||||||||||||||||||||||||||||||||||||||||
AEP Transmission Holdco | AEP Transmission Holdco | 2021 | 2020 | AEP Transmission Holdco | 2021 | 2020 | 2021 | 2020 | ||||||||||||||||||||||||||||||||||||||||||||
(in millions) | (in millions) | |||||||||||||||||||||||||||||||||||||||||||||||||||
Transmission Revenues | Transmission Revenues | $ | 377.0 | $ | 310.2 | Transmission Revenues | $ | 391.6 | $ | 317.9 | $ | 1,146.8 | $ | 877.8 | ||||||||||||||||||||||||||||||||||||||
Other Operation and Maintenance | Other Operation and Maintenance | 27.2 | 29.9 | Other Operation and Maintenance | 40.3 | 30.1 | 96.9 | 85.9 | ||||||||||||||||||||||||||||||||||||||||||||
Depreciation and Amortization | Depreciation and Amortization | 72.7 | 58.1 | Depreciation and Amortization | 78.1 | 63.6 | 225.5 | 182.8 | ||||||||||||||||||||||||||||||||||||||||||||
Taxes Other Than Income Taxes | Taxes Other Than Income Taxes | 59.2 | 51.9 | Taxes Other Than Income Taxes | 62.7 | 53.8 | 183.4 | 157.5 | ||||||||||||||||||||||||||||||||||||||||||||
Operating Income | Operating Income | 217.9 | 170.3 | Operating Income | 210.5 | 170.4 | 641.0 | 451.6 | ||||||||||||||||||||||||||||||||||||||||||||
Interest and Investment Income | Interest and Investment Income | 0.2 | 0.9 | Interest and Investment Income | 0.3 | 0.2 | 0.7 | 2.6 | ||||||||||||||||||||||||||||||||||||||||||||
Allowance for Equity Funds Used During Construction | Allowance for Equity Funds Used During Construction | 16.7 | 16.2 | Allowance for Equity Funds Used During Construction | 16.1 | 20.3 | 49.3 | 54.9 | ||||||||||||||||||||||||||||||||||||||||||||
Non-Service Cost Components of Net Periodic Benefit Cost | Non-Service Cost Components of Net Periodic Benefit Cost | 0.5 | 0.5 | Non-Service Cost Components of Net Periodic Benefit Cost | 0.5 | 0.5 | 1.6 | 1.5 | ||||||||||||||||||||||||||||||||||||||||||||
Interest Expense | Interest Expense | (35.3) | (30.8) | Interest Expense | (37.6) | (34.0) | (108.4) | (99.0) | ||||||||||||||||||||||||||||||||||||||||||||
Income Before Income Tax Expense and Equity Earnings | Income Before Income Tax Expense and Equity Earnings | 200.0 | 157.1 | Income Before Income Tax Expense and Equity Earnings | 189.8 | 157.4 | 584.2 | 411.6 | ||||||||||||||||||||||||||||||||||||||||||||
Income Tax Expense | Income Tax Expense | 45.8 | 38.4 | Income Tax Expense | 42.0 | 38.2 | 131.2 | 101.3 | ||||||||||||||||||||||||||||||||||||||||||||
Equity Earnings of Unconsolidated Subsidiary | Equity Earnings of Unconsolidated Subsidiary | 19.0 | 22.9 | Equity Earnings of Unconsolidated Subsidiary | 20.1 | 20.1 | 57.7 | 62.8 | ||||||||||||||||||||||||||||||||||||||||||||
Net Income | Net Income | 173.2 | 141.6 | Net Income | 167.9 | 139.3 | 510.7 | 373.1 | ||||||||||||||||||||||||||||||||||||||||||||
Net Income Attributable to Noncontrolling Interests | Net Income Attributable to Noncontrolling Interests | 1.2 | 1.0 | Net Income Attributable to Noncontrolling Interests | 1.1 | 1.0 | 3.2 | 2.7 | ||||||||||||||||||||||||||||||||||||||||||||
Earnings Attributable to AEP Common Shareholders | Earnings Attributable to AEP Common Shareholders | $ | 172.0 | $ | 140.6 | Earnings Attributable to AEP Common Shareholders | $ | 166.8 | $ | 138.3 | $ | 507.5 | $ | 370.4 |
March 31, | September 30, | |||||||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | |||||||||||||||||||||||||
(in millions) | (in millions) | |||||||||||||||||||||||||||
Plant in Service | Plant in Service | $ | 10,549.3 | $ | 9,086.6 | Plant in Service | $ | 11,256.0 | $ | 9,644.6 | ||||||||||||||||||
Construction Work in Progress | Construction Work in Progress | 1,635.9 | 1,576.3 | Construction Work in Progress | 1,609.6 | 1,732.5 | ||||||||||||||||||||||
Accumulated Depreciation and Amortization | Accumulated Depreciation and Amortization | 648.1 | 464.0 | Accumulated Depreciation and Amortization | 758.1 | 553.1 | ||||||||||||||||||||||
Total Transmission Property, Net | Total Transmission Property, Net | $ | 11,537.1 | $ | 10,198.9 | Total Transmission Property, Net | $ | 12,107.5 | $ | 10,824.0 |
$ | ||||||||||
Changes in Transmission Revenues: | ||||||||||
Transmission Revenues | ||||||||||
Total Change in Transmission Revenues | ||||||||||
Changes in Expenses and Other: | ||||||||||
Other Operation and Maintenance | ||||||||||
Depreciation and Amortization | ||||||||||
Taxes Other Than Income Taxes | ||||||||||
Interest | ||||||||||
Allowance for Equity Funds Used During Construction | ||||||||||
Interest Expense | ||||||||||
Total Change in Expenses and Other | ||||||||||
Income Tax Expense | ||||||||||
Net Income Attributable to Noncontrolling Interests | ||||||||||
$ |
Nine Months Ended September 30, 2020 | $ | 370.4 | ||||||
Changes in Transmission Revenues: | ||||||||
Transmission Revenues | 269.0 | |||||||
Total Change in Transmission Revenues | 269.0 | |||||||
Changes in Expenses and Other: | ||||||||
Other Operation and Maintenance | (11.0) | |||||||
Depreciation and Amortization | (42.7) | |||||||
Taxes Other Than Income Taxes | (25.9) | |||||||
Interest Income | (1.9) | |||||||
Allowance for Equity Funds Used During Construction | (5.6) | |||||||
Non-Service Cost Components of Net Periodic Pension Cost | 0.1 | |||||||
Interest Expense | (9.4) | |||||||
Total Change in Expenses and Other | (96.4) | |||||||
Income Tax Expense | (29.9) | |||||||
Equity Earnings of Unconsolidated Subsidiary | (5.1) | |||||||
Net Income Attributable to Noncontrolling Interests | (0.5) | |||||||
Nine Months Ended September 30, 2021 | $ | 507.5 |
Three Months Ended | Three Months Ended | Nine Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||
March 31, | September 30, | September 30, | ||||||||||||||||||||||||||||||||||||||||||||||||||
Generation & Marketing | Generation & Marketing | 2021 | 2020 | Generation & Marketing | 2021 | 2020 | 2021 | 2020 | ||||||||||||||||||||||||||||||||||||||||||||
(in millions) | (in millions) | |||||||||||||||||||||||||||||||||||||||||||||||||||
Revenues | Revenues | $ | 634.2 | $ | 438.6 | Revenues | $ | 621.1 | $ | 490.0 | $ | 1,691.9 | $ | 1,305.5 | ||||||||||||||||||||||||||||||||||||||
Fuel, Purchased Electricity and Other | Fuel, Purchased Electricity and Other | 565.9 | 360.3 | Fuel, Purchased Electricity and Other | 444.7 | 391.6 | 1,368.7 | 1,050.4 | ||||||||||||||||||||||||||||||||||||||||||||
Gross Margin | Gross Margin | 68.3 | 78.3 | Gross Margin | 176.4 | 98.4 | 323.2 | 255.1 | ||||||||||||||||||||||||||||||||||||||||||||
Other Operation and Maintenance | Other Operation and Maintenance | 28.2 | 41.4 | Other Operation and Maintenance | 38.2 | 27.2 | 98.8 | 85.1 | ||||||||||||||||||||||||||||||||||||||||||||
Depreciation and Amortization | Depreciation and Amortization | 18.6 | 17.7 | Depreciation and Amortization | 21.1 | 18.5 | 59.7 | 54.1 | ||||||||||||||||||||||||||||||||||||||||||||
Taxes Other Than Income Taxes | Taxes Other Than Income Taxes | 2.6 | 3.4 | Taxes Other Than Income Taxes | 2.6 | 3.3 | 8.1 | 10.4 | ||||||||||||||||||||||||||||||||||||||||||||
Operating Income | Operating Income | 18.9 | 15.8 | Operating Income | 114.5 | 49.4 | 156.6 | 105.5 | ||||||||||||||||||||||||||||||||||||||||||||
Interest and Investment Income | Interest and Investment Income | 0.5 | 1.0 | Interest and Investment Income | 1.3 | 0.4 | 2.4 | 2.6 | ||||||||||||||||||||||||||||||||||||||||||||
Non-Service Cost Components of Net Periodic Benefit Cost | Non-Service Cost Components of Net Periodic Benefit Cost | 3.8 | 3.9 | Non-Service Cost Components of Net Periodic Benefit Cost | 3.8 | 3.9 | 11.5 | 11.6 | ||||||||||||||||||||||||||||||||||||||||||||
Interest Expense | Interest Expense | (3.3) | (8.5) | Interest Expense | (4.0) | (3.8) | (11.1) | (20.5) | ||||||||||||||||||||||||||||||||||||||||||||
Income Before Income Tax Benefit and Equity Earnings | 19.9 | 12.2 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Income Tax Benefit | (15.1) | (12.4) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Equity Earnings of Unconsolidated Subsidiaries | 3.2 | 5.9 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Income Before Income Tax Expense (Benefit) and Equity Earnings (Loss) | Income Before Income Tax Expense (Benefit) and Equity Earnings (Loss) | 115.6 | 49.9 | 159.4 | 99.2 | |||||||||||||||||||||||||||||||||||||||||||||||
Income Tax Expense (Benefit) | Income Tax Expense (Benefit) | 8.3 | (70.9) | (31.0) | (104.3) | |||||||||||||||||||||||||||||||||||||||||||||||
Equity Earnings (Loss) of Unconsolidated Subsidiaries | Equity Earnings (Loss) of Unconsolidated Subsidiaries | (7.8) | (6.2) | (6.2) | 0.1 | |||||||||||||||||||||||||||||||||||||||||||||||
Net Income | Net Income | 38.2 | 30.5 | Net Income | 99.5 | 114.6 | 184.2 | 203.6 | ||||||||||||||||||||||||||||||||||||||||||||
Net Earnings Attributable to Noncontrolling Interests | 1.6 | 2.1 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Net Loss Attributable to Noncontrolling Interests | Net Loss Attributable to Noncontrolling Interests | (1.2) | (2.1) | (5.5) | (7.4) | |||||||||||||||||||||||||||||||||||||||||||||||
Earnings Attributable to AEP Common Shareholders | Earnings Attributable to AEP Common Shareholders | $ | 36.6 | $ | 28.4 | Earnings Attributable to AEP Common Shareholders | $ | 100.7 | $ | 116.7 | $ | 189.7 | $ | 211.0 |
Three Months Ended | Nine Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||
Three Months Ended March 31, | September 30, | September 30, | ||||||||||||||||||||||||||||||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | 2021 | 2020 | |||||||||||||||||||||||||||||||||||||||||||||||
(in millions of MWhs) | (in millions of MWhs) | |||||||||||||||||||||||||||||||||||||||||||||||||||
Fuel Type: | Fuel Type: | Fuel Type: | ||||||||||||||||||||||||||||||||||||||||||||||||||
Coal | Coal | 1 | 1 | Coal | 1 | 1 | 3 | 3 | ||||||||||||||||||||||||||||||||||||||||||||
Renewables | Renewables | 1 | 1 | Renewables | 1 | — | 3 | 2 | ||||||||||||||||||||||||||||||||||||||||||||
Total MWhs | Total MWhs | 2 | 2 | Total MWhs | 2 | 1 | 6 | 5 |
Reconciliation of | ||||||||
Earnings Attributable to AEP Common Shareholders from Generation & Marketing | ||||||||
(in millions) | ||||||||
$ | ||||||||
Changes in Gross Margin: | ||||||||
Merchant Generation | ||||||||
Renewable Generation | ||||||||
Retail, Trading and Marketing | ||||||||
Total Change in Gross Margin | ||||||||
Changes in Expenses and Other: | ||||||||
Other Operation and Maintenance | ||||||||
Depreciation and Amortization | ||||||||
Taxes Other Than Income Taxes | ||||||||
Interest and Investment Income | ||||||||
Non-Service Cost Components of Net Periodic Benefit Cost | (0.1) | |||||||
Interest Expense | ||||||||
Total Change in Expenses and Other | ||||||||
Income Tax Expense | ||||||||
Equity Earnings (Loss) of Unconsolidated Subsidiaries | ||||||||
Net | ||||||||
$ |
Reconciliation of Nine Months Ended September 30, 2020 to Nine Months Ended September 30, 2021 | ||||||||
Earnings Attributable to AEP Common Shareholders from Generation & Marketing | ||||||||
(in millions) | ||||||||
Nine Months Ended September 30, 2020 | $ | 211.0 | ||||||
Changes in Gross Margin: | ||||||||
Merchant Generation | 6.6 | |||||||
Renewable Generation | 17.2 | |||||||
Retail, Trading and Marketing | 44.3 | |||||||
Total Change in Gross Margin | 68.1 | |||||||
Changes in Expenses and Other: | ||||||||
Other Operation and Maintenance | (13.7) | |||||||
Depreciation and Amortization | (5.6) | |||||||
Taxes Other Than Income Taxes | 2.3 | |||||||
Interest and Investment Income | (0.2) | |||||||
Non-Service Cost Components of Net Periodic Benefit Cost | (0.1) | |||||||
Interest Expense | 9.4 | |||||||
Total Change in Expenses and Other | (7.9) | |||||||
Income Tax Benefit | (73.3) | |||||||
Equity Earnings (Loss) of Unconsolidated Subsidiaries | (6.3) | |||||||
Net Loss Attributable to Noncontrolling Interests | (1.9) | |||||||
Nine Months Ended September 30, 2021 | $ | 189.7 |
March 31, 2021 | December 31, 2020 | September 30, 2021 | December 31, 2020 | |||||||||||||||||||||||||||||||||||||||||||
(dollars in millions) | (dollars in millions) | |||||||||||||||||||||||||||||||||||||||||||||
Long-term Debt, including amounts due within one year | Long-term Debt, including amounts due within one year | $ | 32,345.0 | 57.1 | % | $ | 31,072.5 | 57.2 | % | Long-term Debt, including amounts due within one year | $ | 34,578.3 | 58.0 | % | $ | 31,072.5 | 57.2 | % | ||||||||||||||||||||||||||||
Short-term Debt | Short-term Debt | 3,048.4 | 5.4 | 2,479.3 | 4.6 | Short-term Debt | 2,504.0 | 4.2 | 2,479.3 | 4.6 | ||||||||||||||||||||||||||||||||||||
Total Debt | Total Debt | 35,393.4 | 62.5 | 33,551.8 | 61.8 | Total Debt | 37,082.3 | 62.2 | 33,551.8 | 61.8 | ||||||||||||||||||||||||||||||||||||
AEP Common Equity | AEP Common Equity | 20,972.8 | 37.1 | 20,550.9 | 37.8 | AEP Common Equity | 22,278.1 | 37.4 | 20,550.9 | 37.8 | ||||||||||||||||||||||||||||||||||||
Noncontrolling Interests | Noncontrolling Interests | 247.2 | 0.4 | 223.6 | 0.4 | Noncontrolling Interests | 249.1 | 0.4 | 223.6 | 0.4 | ||||||||||||||||||||||||||||||||||||
Total Debt and Equity Capitalization | Total Debt and Equity Capitalization | $ | 56,613.4 | 100.0 | % | $ | 54,326.3 | 100.0 | % | Total Debt and Equity Capitalization | $ | 59,609.5 | 100.0 | % | $ | 54,326.3 | 100.0 | % |
Amount | Maturity | |||||||||||||
Commercial Paper Backup: | (in millions) | |||||||||||||
Revolving Credit Facility | $ | 4,000.0 | March 2026 | |||||||||||
Revolving Credit Facility | 1,000.0 | March 2023 | ||||||||||||
364-Day Term Loan | 500.0 | March 2022 | ||||||||||||
Cash and Cash Equivalents | ||||||||||||||
Total Liquidity Sources | ||||||||||||||
Less: | AEP Commercial Paper Outstanding | |||||||||||||
364-Day Term Loan | 500.0 | |||||||||||||
Net Available Liquidity | $ |
Three Months Ended March 31, | Nine Months Ended September 30, | |||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | |||||||||||||||||||
(in millions) | (in millions) | |||||||||||||||||||||
Cash, Cash Equivalents and Restricted Cash at Beginning of Period | Cash, Cash Equivalents and Restricted Cash at Beginning of Period | $ | 438.3 | $ | 432.6 | Cash, Cash Equivalents and Restricted Cash at Beginning of Period | $ | 438.3 | $ | 432.6 | ||||||||||||
Net Cash Flows from (Used for) Operating Activities | (117.2) | 615.7 | ||||||||||||||||||||
Net Cash Flows from Operating Activities | Net Cash Flows from Operating Activities | 2,973.0 | 2,922.2 | |||||||||||||||||||
Net Cash Flows Used for Investing Activities | Net Cash Flows Used for Investing Activities | (1,634.2) | (1,766.0) | Net Cash Flows Used for Investing Activities | (4,906.2) | (4,707.3) | ||||||||||||||||
Net Cash Flows from Financing Activities | Net Cash Flows from Financing Activities | 1,637.1 | 2,388.5 | Net Cash Flows from Financing Activities | 2,921.6 | 1,816.3 | ||||||||||||||||
Net Increase (Decrease) in Cash and Cash Equivalents | (114.3) | 1,238.2 | ||||||||||||||||||||
Net Increase in Cash and Cash Equivalents | Net Increase in Cash and Cash Equivalents | 988.4 | 31.2 | |||||||||||||||||||
Cash, Cash Equivalents and Restricted Cash at End of Period | Cash, Cash Equivalents and Restricted Cash at End of Period | $ | 324.0 | $ | 1,670.8 | Cash, Cash Equivalents and Restricted Cash at End of Period | $ | 1,426.7 | $ | 463.8 |
Three Months Ended March 31, | Nine Months Ended September 30, | |||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | |||||||||||||||||||
(in millions) | (in millions) | |||||||||||||||||||||
Net Income | Net Income | $ | 578.8 | $ | 499.3 | Net Income | $ | 1,949.5 | $ | 1,762.0 | ||||||||||||
Non-Cash Adjustments to Net Income (a) | Non-Cash Adjustments to Net Income (a) | 762.7 | 726.2 | Non-Cash Adjustments to Net Income (a) | 2,353.8 | 2,196.7 | ||||||||||||||||
Mark-to-Market of Risk Management Contracts | Mark-to-Market of Risk Management Contracts | 21.0 | 57.4 | Mark-to-Market of Risk Management Contracts | 101.0 | 46.4 | ||||||||||||||||
Pension Contributions to Qualified Plan Trust | Pension Contributions to Qualified Plan Trust | — | (110.3) | |||||||||||||||||||
Property Taxes | Property Taxes | (74.8) | (59.8) | Property Taxes | 415.1 | 396.9 | ||||||||||||||||
Deferred Fuel Over/Under-Recovery, Net | Deferred Fuel Over/Under-Recovery, Net | (1,225.1) | 63.1 | Deferred Fuel Over/Under-Recovery, Net | (1,356.8) | 27.4 | ||||||||||||||||
Change in Other Noncurrent Assets | Change in Other Noncurrent Assets | (168.9) | (84.9) | Change in Other Noncurrent Assets | (270.7) | (322.0) | ||||||||||||||||
Change in Other Noncurrent Liabilities | Change in Other Noncurrent Liabilities | 83.5 | (74.8) | Change in Other Noncurrent Liabilities | 162.7 | (25.1) | ||||||||||||||||
Change in Certain Components of Working Capital | Change in Certain Components of Working Capital | (94.4) | (510.8) | Change in Certain Components of Working Capital | (381.6) | (1,049.8) | ||||||||||||||||
Net Cash Flows from (Used for) Operating Activities | $ | (117.2) | $ | 615.7 | ||||||||||||||||||
Net Cash Flows from Operating Activities | Net Cash Flows from Operating Activities | $ | 2,973.0 | $ | 2,922.2 |
Three Months Ended March 31, | Nine Months Ended September 30, | |||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | |||||||||||||||||||
(in millions) | (in millions) | |||||||||||||||||||||
Construction Expenditures | Construction Expenditures | $ | (1,492.7) | $ | (1,792.7) | Construction Expenditures | $ | (4,087.0) | $ | (4,690.4) | ||||||||||||
Acquisitions of Nuclear Fuel | Acquisitions of Nuclear Fuel | (55.9) | (1.3) | Acquisitions of Nuclear Fuel | (63.2) | (68.4) | ||||||||||||||||
Acquisition of the North Central Wind Energy Facilities | Acquisition of the North Central Wind Energy Facilities | (652.8) | — | |||||||||||||||||||
Acquisition of the Dry Lake Solar Project | Acquisition of the Dry Lake Solar Project | (102.9) | — | Acquisition of the Dry Lake Solar Project | (114.4) | — | ||||||||||||||||
Other | Other | 17.3 | 28.0 | Other | 11.2 | 51.5 | ||||||||||||||||
Net Cash Flows Used for Investing Activities | Net Cash Flows Used for Investing Activities | $ | (1,634.2) | $ | (1,766.0) | Net Cash Flows Used for Investing Activities | $ | (4,906.2) | $ | (4,707.3) |
Three Months Ended March 31, | Nine Months Ended September 30, | |||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | |||||||||||||||||||
(in millions) | (in millions) | |||||||||||||||||||||
Issuance of Common Stock | Issuance of Common Stock | $ | 184.6 | $ | 56.1 | Issuance of Common Stock | $ | 548.0 | $ | 136.5 | ||||||||||||
Issuance/Retirement of Debt, Net | Issuance/Retirement of Debt, Net | 1,869.9 | 2,744.2 | Issuance/Retirement of Debt, Net | 3,537.2 | 2,844.0 | ||||||||||||||||
Dividends Paid on Common Stock | Dividends Paid on Common Stock | (372.0) | (363.7) | Dividends Paid on Common Stock | (1,122.7) | (1,055.7) | ||||||||||||||||
Other | Other | (45.4) | (48.1) | Other | (40.9) | (108.5) | ||||||||||||||||
Net Cash Flows from Financing Activities | Net Cash Flows from Financing Activities | $ | 1,637.1 | $ | 2,388.5 | Net Cash Flows from Financing Activities | $ | 2,921.6 | $ | 1,816.3 |
MTM Risk Management Contract Net Assets (Liabilities) | MTM Risk Management Contract Net Assets (Liabilities) | MTM Risk Management Contract Net Assets (Liabilities) | ||||||||||||||||||||||||||||||||||||||||||||
Three Months Ended March 31, 2021 | ||||||||||||||||||||||||||||||||||||||||||||||
Nine Months Ended September 30, 2021 | Nine Months Ended September 30, 2021 | |||||||||||||||||||||||||||||||||||||||||||||
Vertically Integrated Utilities | Transmission and Distribution Utilities | Generation & Marketing | Total | Vertically Integrated Utilities | Transmission and Distribution Utilities | Generation & Marketing | Total | |||||||||||||||||||||||||||||||||||||||
(in millions) | (in millions) | |||||||||||||||||||||||||||||||||||||||||||||
Total MTM Risk Management Contract Net Assets (Liabilities) as of December 31, 2020 | Total MTM Risk Management Contract Net Assets (Liabilities) as of December 31, 2020 | $ | 41.2 | $ | (109.5) | $ | 168.1 | $ | 99.8 | Total MTM Risk Management Contract Net Assets (Liabilities) as of December 31, 2020 | $ | 41.2 | $ | (109.5) | $ | 168.1 | $ | 99.8 | ||||||||||||||||||||||||||||
Gain from Contracts Realized/Settled During the Period and Entered in a Prior Period | Gain from Contracts Realized/Settled During the Period and Entered in a Prior Period | (21.6) | (2.6) | (7.5) | (31.7) | Gain from Contracts Realized/Settled During the Period and Entered in a Prior Period | (20.4) | (5.6) | (11.9) | (37.9) | ||||||||||||||||||||||||||||||||||||
Fair Value of New Contracts at Inception When Entered During the Period (a) | Fair Value of New Contracts at Inception When Entered During the Period (a) | — | — | 1.0 | 1.0 | |||||||||||||||||||||||||||||||||||||||||
Changes in Fair Value Due to Market Fluctuations During the Period | Changes in Fair Value Due to Market Fluctuations During the Period | — | — | 3.4 | 3.4 | Changes in Fair Value Due to Market Fluctuations During the Period | — | — | 138.1 | 138.1 | ||||||||||||||||||||||||||||||||||||
Changes in Fair Value Allocated to Regulated Jurisdictions | Changes in Fair Value Allocated to Regulated Jurisdictions | (3.4) | 9.5 | — | 6.1 | Changes in Fair Value Allocated to Regulated Jurisdictions | 46.3 | 26.4 | — | 72.7 | ||||||||||||||||||||||||||||||||||||
Total MTM Risk Management Contract Net Assets (Liabilities) as of March 31, 2021 | $ | 16.2 | $ | (102.6) | $ | 164.0 | 77.6 | |||||||||||||||||||||||||||||||||||||||
Total MTM Risk Management Contract Net Assets (Liabilities) as of September 30, 2021 | Total MTM Risk Management Contract Net Assets (Liabilities) as of September 30, 2021 | $ | 67.1 | $ | (88.7) | $ | 295.3 | 273.7 | ||||||||||||||||||||||||||||||||||||||
Commodity Cash Flow Hedge Contracts | Commodity Cash Flow Hedge Contracts | (22.8) | Commodity Cash Flow Hedge Contracts | 359.5 | ||||||||||||||||||||||||||||||||||||||||||
Interest Rate Cash Flow Hedge Contracts | Interest Rate Cash Flow Hedge Contracts | 4.9 | ||||||||||||||||||||||||||||||||||||||||||||
Fair Value Hedge Contracts | Fair Value Hedge Contracts | (34.7) | Fair Value Hedge Contracts | (25.4) | ||||||||||||||||||||||||||||||||||||||||||
Collateral Deposits | Collateral Deposits | 4.7 | Collateral Deposits | (271.3) | ||||||||||||||||||||||||||||||||||||||||||
Total MTM Derivative Contract Net Assets as of March 31, 2021 | $ | 24.8 | ||||||||||||||||||||||||||||||||||||||||||||
Total MTM Derivative Contract Net Assets as of September 30, 2021 | Total MTM Derivative Contract Net Assets as of September 30, 2021 | $ | 341.4 |
Counterparty Credit Quality | Counterparty Credit Quality | Exposure Before Credit Collateral | Credit Collateral | Net Exposure | Number of Counterparties >10% of Net Exposure | Net Exposure of Counterparties >10% | Counterparty Credit Quality | Exposure Before Credit Collateral | Credit Collateral | Net Exposure | Number of Counterparties >10% of Net Exposure | Net Exposure of Counterparties >10% | ||||||||||||||||||||||||||||||||||||||||||||||||||||
(in millions, except number of counterparties) | (in millions, except number of counterparties) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment Grade | Investment Grade | $ | 373.8 | $ | — | $ | 373.8 | 2 | $ | 190.0 | Investment Grade | $ | 505.7 | $ | 33.6 | $ | 472.1 | 3 | $ | 199.3 | ||||||||||||||||||||||||||||||||||||||||||||
Split Rating | 2.2 | — | 2.2 | 2 | 2.2 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Noninvestment Grade | 0.4 | — | 0.4 | 1 | 0.4 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
No External Ratings: | No External Ratings: | No External Ratings: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Internal Investment Grade | Internal Investment Grade | 151.0 | — | 151.0 | 3 | 100.3 | Internal Investment Grade | 80.4 | — | 80.4 | 3 | 61.9 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Internal Noninvestment Grade | Internal Noninvestment Grade | 22.7 | 0.5 | 22.2 | 2 | 13.1 | Internal Noninvestment Grade | 14.2 | 4.2 | 10.0 | 2 | 5.8 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Total as of March 31, 2021 | $ | 550.1 | $ | 0.5 | $ | 549.6 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total as of September 30, 2021 | Total as of September 30, 2021 | $ | 600.3 | $ | 37.8 | $ | 562.5 |
Three Months Ended | Twelve Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
March 31, 2021 | December 31, 2020 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Nine Months Ended | Nine Months Ended | Twelve Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
September 30, 2021 | September 30, 2021 | December 31, 2020 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
End | End | High | Average | Low | End | High | Average | Low | End | High | Average | Low | End | High | Average | Low | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(in millions) | (in millions) | (in millions) | (in millions) | (in millions) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
$ | 0.1 | $ | 3.6 | $ | 0.2 | $ | 0.1 | $ | 0.1 | $ | 0.3 | $ | 0.1 | $ | — | 1.7 | $ | 3.6 | $ | 0.3 | $ | 0.1 | $ | 0.1 | $ | 0.3 | $ | 0.1 | $ | — |
Three Months Ended | Twelve Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
March 31, 2021 | December 31, 2020 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Nine Months Ended | Nine Months Ended | Twelve Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
September 30, 2021 | September 30, 2021 | December 31, 2020 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
End | End | High | Average | Low | End | High | Average | Low | End | High | Average | Low | End | High | Average | Low | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(in millions) | (in millions) | (in millions) | (in millions) | (in millions) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
$ | 1.0 | $ | 3.7 | $ | 1.9 | $ | 1.0 | $ | 2.2 | $ | 2.9 | $ | 1.0 | $ | 0.1 | 7.7 | $ | 7.8 | $ | 2.3 | $ | 0.7 | $ | 2.2 | $ | 2.9 | $ | 1.0 | $ | 0.1 |
Three Months Ended | Nine Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||
Three Months Ended March 31, | September 30, | September 30, | ||||||||||||||||||||||||||||||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | 2021 | 2020 | |||||||||||||||||||||||||||||||||||||||||||||||
REVENUES | REVENUES | REVENUES | ||||||||||||||||||||||||||||||||||||||||||||||||||
Vertically Integrated Utilities | Vertically Integrated Utilities | $ | 2,504.5 | $ | 2,193.0 | Vertically Integrated Utilities | $ | 2,716.8 | $ | 2,400.1 | $ | 7,445.9 | $ | 6,655.4 | ||||||||||||||||||||||||||||||||||||||
Transmission and Distribution Utilities | Transmission and Distribution Utilities | 1,082.3 | 1,075.2 | Transmission and Distribution Utilities | 1,195.0 | 1,124.1 | 3,366.9 | 3,208.7 | ||||||||||||||||||||||||||||||||||||||||||||
Generation & Marketing | Generation & Marketing | 601.7 | 408.4 | Generation & Marketing | 617.4 | 464.8 | 1,641.6 | 1,223.4 | ||||||||||||||||||||||||||||||||||||||||||||
Other Revenues | Other Revenues | 92.6 | 70.9 | Other Revenues | 93.8 | 77.4 | 276.2 | 220.4 | ||||||||||||||||||||||||||||||||||||||||||||
TOTAL REVENUES | TOTAL REVENUES | 4,281.1 | 3,747.5 | TOTAL REVENUES | 4,623.0 | 4,066.4 | 12,730.6 | 11,307.9 | ||||||||||||||||||||||||||||||||||||||||||||
EXPENSES | EXPENSES | EXPENSES | ||||||||||||||||||||||||||||||||||||||||||||||||||
Purchased Electricity, Fuel and Other Consumables Used for Electric Generation | Purchased Electricity, Fuel and Other Consumables Used for Electric Generation | 1,560.7 | 1,151.0 | Purchased Electricity, Fuel and Other Consumables Used for Electric Generation | 1,441.4 | 1,200.4 | 4,126.1 | 3,316.3 | ||||||||||||||||||||||||||||||||||||||||||||
Other Operation | Other Operation | 592.4 | 602.1 | Other Operation | 735.3 | 702.9 | 1,894.6 | 1,871.0 | ||||||||||||||||||||||||||||||||||||||||||||
Maintenance | Maintenance | 274.9 | 249.5 | Maintenance | 277.8 | 237.6 | 817.0 | 730.5 | ||||||||||||||||||||||||||||||||||||||||||||
Depreciation and Amortization | Depreciation and Amortization | 696.3 | 672.2 | Depreciation and Amortization | 700.3 | 644.6 | 2,103.9 | 1,996.3 | ||||||||||||||||||||||||||||||||||||||||||||
Taxes Other Than Income Taxes | Taxes Other Than Income Taxes | 346.5 | 321.1 | Taxes Other Than Income Taxes | 360.8 | 337.7 | 1,061.4 | 976.3 | ||||||||||||||||||||||||||||||||||||||||||||
TOTAL EXPENSES | TOTAL EXPENSES | 3,470.8 | 2,995.9 | TOTAL EXPENSES | 3,515.6 | 3,123.2 | 10,003.0 | 8,890.4 | ||||||||||||||||||||||||||||||||||||||||||||
OPERATING INCOME | OPERATING INCOME | 810.3 | 751.6 | OPERATING INCOME | 1,107.4 | 943.2 | 2,727.6 | 2,417.5 | ||||||||||||||||||||||||||||||||||||||||||||
Other Income (Expense): | Other Income (Expense): | Other Income (Expense): | ||||||||||||||||||||||||||||||||||||||||||||||||||
Other Income (Expense) | Other Income (Expense) | 21.7 | (4.4) | Other Income (Expense) | (20.6) | 5.5 | 34.2 | 15.4 | ||||||||||||||||||||||||||||||||||||||||||||
Allowance for Equity Funds Used During Construction | Allowance for Equity Funds Used During Construction | 33.4 | 31.4 | Allowance for Equity Funds Used During Construction | 37.0 | 45.2 | 103.9 | 111.7 | ||||||||||||||||||||||||||||||||||||||||||||
Non-Service Cost Components of Net Periodic Benefit Cost | Non-Service Cost Components of Net Periodic Benefit Cost | 29.6 | 29.7 | Non-Service Cost Components of Net Periodic Benefit Cost | 29.6 | 29.7 | 88.9 | 89.2 | ||||||||||||||||||||||||||||||||||||||||||||
Interest Expense | Interest Expense | (290.2) | (292.1) | Interest Expense | (303.7) | (291.3) | (895.5) | (877.4) | ||||||||||||||||||||||||||||||||||||||||||||
INCOME BEFORE INCOME TAX EXPENSE AND EQUITY EARNINGS | 604.8 | 516.2 | ||||||||||||||||||||||||||||||||||||||||||||||||||
INCOME BEFORE INCOME TAX EXPENSE (BENEFIT) AND EQUITY EARNINGS | INCOME BEFORE INCOME TAX EXPENSE (BENEFIT) AND EQUITY EARNINGS | 849.7 | 732.3 | 2,059.1 | 1,756.4 | |||||||||||||||||||||||||||||||||||||||||||||||
Income Tax Expense | 54.5 | 46.5 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Income Tax Expense (Benefit) | Income Tax Expense (Benefit) | 69.8 | (1.2) | 185.5 | 57.9 | |||||||||||||||||||||||||||||||||||||||||||||||
Equity Earnings of Unconsolidated Subsidiaries | Equity Earnings of Unconsolidated Subsidiaries | 28.5 | 29.6 | Equity Earnings of Unconsolidated Subsidiaries | 17.0 | 14.7 | 75.9 | 63.5 | ||||||||||||||||||||||||||||||||||||||||||||
NET INCOME | NET INCOME | 578.8 | 499.3 | NET INCOME | 796.9 | 748.2 | 1,949.5 | 1,762.0 | ||||||||||||||||||||||||||||||||||||||||||||
Net Income Attributable to Noncontrolling Interests | 3.8 | 4.1 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Net Income (Loss) Attributable to Noncontrolling Interests | Net Income (Loss) Attributable to Noncontrolling Interests | 0.9 | (0.4) | 0.3 | (2.6) | |||||||||||||||||||||||||||||||||||||||||||||||
EARNINGS ATTRIBUTABLE TO AEP COMMON SHAREHOLDERS | EARNINGS ATTRIBUTABLE TO AEP COMMON SHAREHOLDERS | $ | 575.0 | $ | 495.2 | EARNINGS ATTRIBUTABLE TO AEP COMMON SHAREHOLDERS | $ | 796.0 | $ | 748.6 | $ | 1,949.2 | $ | 1,764.6 | ||||||||||||||||||||||||||||||||||||||
WEIGHTED AVERAGE NUMBER OF BASIC AEP COMMON SHARES OUTSTANDING | WEIGHTED AVERAGE NUMBER OF BASIC AEP COMMON SHARES OUTSTANDING | 497,058,635 | 494,596,869 | WEIGHTED AVERAGE NUMBER OF BASIC AEP COMMON SHARES OUTSTANDING | 501,233,680 | 496,177,968 | 499,418,278 | 495,479,190 | ||||||||||||||||||||||||||||||||||||||||||||
TOTAL BASIC EARNINGS PER SHARE ATTRIBUTABLE TO AEP COMMON SHAREHOLDERS | TOTAL BASIC EARNINGS PER SHARE ATTRIBUTABLE TO AEP COMMON SHAREHOLDERS | $ | 1.16 | $ | 1.00 | TOTAL BASIC EARNINGS PER SHARE ATTRIBUTABLE TO AEP COMMON SHAREHOLDERS | $ | 1.59 | $ | 1.51 | $ | 3.90 | $ | 3.56 | ||||||||||||||||||||||||||||||||||||||
WEIGHTED AVERAGE NUMBER OF DILUTED AEP COMMON SHARES OUTSTANDING | WEIGHTED AVERAGE NUMBER OF DILUTED AEP COMMON SHARES OUTSTANDING | 498,164,219 | 496,608,918 | WEIGHTED AVERAGE NUMBER OF DILUTED AEP COMMON SHARES OUTSTANDING | 502,606,836 | 497,458,523 | 500,600,237 | 496,916,187 | ||||||||||||||||||||||||||||||||||||||||||||
TOTAL DILUTED EARNINGS PER SHARE ATTRIBUTABLE TO AEP COMMON SHAREHOLDERS | TOTAL DILUTED EARNINGS PER SHARE ATTRIBUTABLE TO AEP COMMON SHAREHOLDERS | $ | 1.15 | $ | 1.00 | TOTAL DILUTED EARNINGS PER SHARE ATTRIBUTABLE TO AEP COMMON SHAREHOLDERS | $ | 1.58 | $ | 1.50 | $ | 3.89 | $ | 3.55 | ||||||||||||||||||||||||||||||||||||||
Three Months Ended March 31, | ||||||||||||||||||||||||||
2021 | 2020 | |||||||||||||||||||||||||
Net Income | $ | 578.8 | $ | 499.3 | ||||||||||||||||||||||
OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAXES | ||||||||||||||||||||||||||
Cash Flow Hedges, Net of Tax of $15.0 and $(17.8) in 2021 and 2020, Respectively | 56.3 | (67.0) | ||||||||||||||||||||||||
Amortization of Pension and OPEB Deferred Costs, Net of Tax of $(0.5) and $(0.5) in 2021 and 2020, Respectively | (2.0) | (1.8) | ||||||||||||||||||||||||
TOTAL OTHER COMPREHENSIVE INCOME (LOSS) | 54.3 | (68.8) | ||||||||||||||||||||||||
TOTAL COMPREHENSIVE INCOME | 633.1 | 430.5 | ||||||||||||||||||||||||
Total Other Comprehensive Income Attributable To Noncontrolling Interests | 3.8 | 4.1 | ||||||||||||||||||||||||
TOTAL OTHER COMPREHENSIVE INCOME ATTRIBUTABLE TO AEP COMMON SHAREHOLDERS | $ | 629.3 | $ | 426.4 | ||||||||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||||||||||||
September 30, | September 30, | |||||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | |||||||||||||||||||||||
Net Income | $ | 796.9 | $ | 748.2 | $ | 1,949.5 | $ | 1,762.0 | ||||||||||||||||||
OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAXES | ||||||||||||||||||||||||||
Cash Flow Hedges, Net of Tax of $47.8 and $10.5 for the Three Months Ended September 30, 2021 and 2020, Respectively, and $97.3 and $4.7 for the Nine Months Ended September 30, 2021 and 2020, Respectively | 179.7 | 39.3 | 365.9 | 17.6 | ||||||||||||||||||||||
Amortization of Pension and OPEB Deferred Costs, Net of Tax of $(0.5) and $(0.5) for the Three Months Ended September 30, 2021 and 2020, Respectively, and $(1.6) and $(1.4) for the Nine Months Ended September 30, 2021 and 2020, Respectively | (2.0) | (1.8) | (6.1) | (5.3) | ||||||||||||||||||||||
TOTAL OTHER COMPREHENSIVE INCOME | 177.7 | 37.5 | 359.8 | 12.3 | ||||||||||||||||||||||
TOTAL COMPREHENSIVE INCOME | 974.6 | 785.7 | 2,309.3 | 1,774.3 | ||||||||||||||||||||||
Total Comprehensive Income (Loss) Attributable To Noncontrolling Interests | 0.9 | (0.4) | 0.3 | (2.6) | ||||||||||||||||||||||
TOTAL COMPREHENSIVE INCOME ATTRIBUTABLE TO AEP COMMON SHAREHOLDERS | $ | 973.7 | $ | 786.1 | $ | 2,309.0 | $ | 1,776.9 | ||||||||||||||||||
AEP Common Shareholders | AEP Common Shareholders | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common Stock | Accumulated Other Comprehensive Income (Loss) | Common Stock | Accumulated Other Comprehensive Income (Loss) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares | Amount | Paid-in Capital | Retained Earnings | Noncontrolling Interests | Total | Shares | Amount | Paid-in Capital | Retained Earnings | Noncontrolling Interests | Total | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
TOTAL EQUITY – DECEMBER 31, 2019 | TOTAL EQUITY – DECEMBER 31, 2019 | 514.4 | $ | 3,343.4 | $ | 6,535.6 | $ | 9,900.9 | $ | (147.7) | $ | 281.0 | $ | 19,913.2 | TOTAL EQUITY – DECEMBER 31, 2019 | 514.4 | $ | 3,343.4 | $ | 6,535.6 | $ | 9,900.9 | $ | (147.7) | $ | 281.0 | $ | 19,913.2 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issuance of Common Stock | Issuance of Common Stock | 1.0 | 6.8 | 49.3 | 56.1 | Issuance of Common Stock | 1.0 | 6.8 | 49.3 | 56.1 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common Stock Dividends | Common Stock Dividends | (359.1) | (a) | (4.6) | (363.7) | Common Stock Dividends | (359.1) | (a) | (4.6) | (363.7) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Changes in Equity | Other Changes in Equity | (29.0) | (1.2) | (30.2) | Other Changes in Equity | (29.0) | (1.2) | (30.2) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
ASU 2016-13 Adoption | ASU 2016-13 Adoption | 1.8 | 1.8 | ASU 2016-13 Adoption | 1.8 | 1.8 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net Income | Net Income | 495.2 | 4.1 | 499.3 | Net Income | 495.2 | 4.1 | 499.3 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Comprehensive Loss | Other Comprehensive Loss | (68.8) | (68.8) | Other Comprehensive Loss | (68.8) | (68.8) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
TOTAL EQUITY – MARCH 31, 2020 | TOTAL EQUITY – MARCH 31, 2020 | 515.4 | $ | 3,350.2 | $ | 6,555.9 | $ | 10,038.8 | $ | (216.5) | $ | 279.3 | $ | 20,007.7 | TOTAL EQUITY – MARCH 31, 2020 | 515.4 | 3,350.2 | 6,555.9 | 10,038.8 | (216.5) | 279.3 | 20,007.7 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issuance of Common Stock | Issuance of Common Stock | 0.8 | 5.2 | 49.7 | 54.9 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common Stock Dividends | Common Stock Dividends | (337.7) | (a) | (3.2) | (340.9) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Changes in Equity | Other Changes in Equity | (2.6) | 1.0 | (1.6) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net Income (Loss) | Net Income (Loss) | 520.8 | (6.3) | 514.5 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Comprehensive Income | Other Comprehensive Income | 43.6 | 43.6 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
TOTAL EQUITY – JUNE 30, 2020 | TOTAL EQUITY – JUNE 30, 2020 | 516.2 | 3,355.4 | 6,603.0 | 10,221.9 | (172.9) | 270.8 | 20,278.2 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issuance of Common Stock | Issuance of Common Stock | 0.4 | 2.2 | 23.3 | 25.5 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common Stock Dividends | Common Stock Dividends | (349.1) | (a) | (2.0) | (351.1) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Changes in Equity | Other Changes in Equity | (104.0) | (b) | 0.3 | (103.7) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net Income (Loss) | Net Income (Loss) | 748.6 | (0.4) | 748.2 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Comprehensive Income | Other Comprehensive Income | 37.5 | 37.5 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
TOTAL EQUITY – SEPTEMBER 30, 2020 | TOTAL EQUITY – SEPTEMBER 30, 2020 | 516.6 | $ | 3,357.6 | $ | 6,522.3 | $ | 10,621.4 | $ | (135.4) | $ | 268.7 | $ | 20,634.6 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
TOTAL EQUITY – DECEMBER 31, 2020 | TOTAL EQUITY – DECEMBER 31, 2020 | 516.8 | $ | 3,359.3 | $ | 6,588.9 | $ | 10,687.8 | $ | (85.1) | $ | 223.6 | $ | 20,774.5 | TOTAL EQUITY – DECEMBER 31, 2020 | 516.8 | $ | 3,359.3 | $ | 6,588.9 | $ | 10,687.8 | $ | (85.1) | $ | 223.6 | $ | 20,774.5 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issuance of Common Stock | Issuance of Common Stock | 2.7 | 17.1 | 167.5 | 184.6 | Issuance of Common Stock | 2.7 | 17.1 | 167.5 | 184.6 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common Stock Dividends | Common Stock Dividends | (369.5) | (a) | (2.5) | (372.0) | Common Stock Dividends | (369.5) | (c) | (2.5) | (372.0) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Changes in Equity | Other Changes in Equity | (21.9) | (0.6) | 3.4 | (19.1) | Other Changes in Equity | (21.9) | (0.6) | 3.4 | (19.1) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Acquisition of Dry Lake Solar Project | Acquisition of Dry Lake Solar Project | 18.9 | 18.9 | Acquisition of Dry Lake Solar Project | 18.9 | 18.9 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net Income | Net Income | 575.0 | 3.8 | 578.8 | Net Income | 575.0 | 3.8 | 578.8 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Comprehensive Income | Other Comprehensive Income | 54.3 | 54.3 | Other Comprehensive Income | 54.3 | 54.3 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
TOTAL EQUITY – MARCH 31, 2021 | TOTAL EQUITY – MARCH 31, 2021 | 519.5 | $ | 3,376.4 | $ | 6,734.5 | $ | 10,892.7 | $ | (30.8) | $ | 247.2 | $ | 21,220.0 | TOTAL EQUITY – MARCH 31, 2021 | 519.5 | 3,376.4 | 6,734.5 | 10,892.7 | (30.8) | 247.2 | 21,220.0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issuance of Common Stock | Issuance of Common Stock | 0.9 | 6.3 | 66.0 | 72.3 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common Stock Dividends | Common Stock Dividends | (371.8) | (c) | (2.7) | (374.5) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Changes in Equity | Other Changes in Equity | (0.2) | (0.4) | 11.1 | 10.5 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net Income (Loss) | Net Income (Loss) | 578.2 | (4.4) | 573.8 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Comprehensive Income | Other Comprehensive Income | 127.8 | 127.8 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
TOTAL EQUITY – JUNE 30, 2021 | TOTAL EQUITY – JUNE 30, 2021 | 520.4 | 3,382.7 | 6,800.3 | 11,098.7 | 97.0 | 251.2 | 21,629.9 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issuance of Common Stock | Issuance of Common Stock | 3.4 | 21.8 | 269.3 | 291.1 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common Stock Dividends | Common Stock Dividends | (371.7) | (c) | (4.5) | (376.2) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Changes in Equity | Other Changes in Equity | 6.3 | 1.5 | 7.8 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net Income | Net Income | 796.0 | 0.9 | 796.9 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Comprehensive Income | Other Comprehensive Income | 177.7 | 177.7 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
TOTAL EQUITY – SEPTEMBER 30, 2021 | TOTAL EQUITY – SEPTEMBER 30, 2021 | 523.8 | $ | 3,404.5 | $ | 7,075.9 | $ | 11,523.0 | $ | 274.7 | $ | 249.1 | $ | 22,527.2 |
March 31, | December 31, | September 30, | December 31, | |||||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | |||||||||||||||||||||||||
CURRENT ASSETS | CURRENT ASSETS | CURRENT ASSETS | ||||||||||||||||||||||||||
Cash and Cash Equivalents | Cash and Cash Equivalents | $ | 273.2 | $ | 392.7 | Cash and Cash Equivalents | $ | 1,372.7 | $ | 392.7 | ||||||||||||||||||
Restricted Cash (March 31, 2021 and December 31, 2020 Amounts Include $50.8 and $45.6, Respectively, Related to Transition Funding, Restoration Funding and Appalachian Consumer Rate Relief Funding) | 50.8 | 45.6 | ||||||||||||||||||||||||||
Other Temporary Investments (March 31, 2021 and December 31, 2020 Amounts Include $191.7 and $194.6, Respectively, Related to EIS and Transource Energy) | 199.1 | 200.8 | ||||||||||||||||||||||||||
Restricted Cash (September 30, 2021 and December 31, 2020 Amounts Include $54 and $45.6, Respectively, Related to Transition Funding, Restoration Funding and Appalachian Consumer Rate Relief Funding) | Restricted Cash (September 30, 2021 and December 31, 2020 Amounts Include $54 and $45.6, Respectively, Related to Transition Funding, Restoration Funding and Appalachian Consumer Rate Relief Funding) | 54.0 | 45.6 | |||||||||||||||||||||||||
Other Temporary Investments (September 30, 2021 and December 31, 2020 Amounts Include $211.5 and $194.6, Respectively, Related to EIS and Transource Energy) | Other Temporary Investments (September 30, 2021 and December 31, 2020 Amounts Include $211.5 and $194.6, Respectively, Related to EIS and Transource Energy) | 218.4 | 200.8 | |||||||||||||||||||||||||
Accounts Receivable: | Accounts Receivable: | Accounts Receivable: | ||||||||||||||||||||||||||
Customers | Customers | 763.0 | 613.6 | Customers | 701.2 | 613.6 | ||||||||||||||||||||||
Accrued Unbilled Revenues | Accrued Unbilled Revenues | 199.9 | 248.7 | Accrued Unbilled Revenues | 279.3 | 248.7 | ||||||||||||||||||||||
Pledged Accounts Receivable – AEP Credit | Pledged Accounts Receivable – AEP Credit | 919.0 | 1,018.4 | Pledged Accounts Receivable – AEP Credit | 1,071.1 | 1,018.4 | ||||||||||||||||||||||
Miscellaneous | Miscellaneous | 36.1 | 33.1 | Miscellaneous | 50.5 | 33.1 | ||||||||||||||||||||||
Allowance for Uncollectible Accounts | Allowance for Uncollectible Accounts | (59.6) | (71.1) | Allowance for Uncollectible Accounts | (51.7) | (71.1) | ||||||||||||||||||||||
Total Accounts Receivable | Total Accounts Receivable | 1,858.4 | 1,842.7 | Total Accounts Receivable | 2,050.4 | 1,842.7 | ||||||||||||||||||||||
Fuel | Fuel | 588.6 | 629.4 | Fuel | 290.1 | 629.4 | ||||||||||||||||||||||
Materials and Supplies | Materials and Supplies | 683.3 | 680.6 | Materials and Supplies | 688.4 | 680.6 | ||||||||||||||||||||||
Risk Management Assets | Risk Management Assets | 72.1 | 94.7 | Risk Management Assets | 369.2 | 94.7 | ||||||||||||||||||||||
Accrued Tax Benefits | Accrued Tax Benefits | 187.6 | 185.3 | Accrued Tax Benefits | 226.6 | 185.3 | ||||||||||||||||||||||
Regulatory Asset for Under-Recovered Fuel Costs | Regulatory Asset for Under-Recovered Fuel Costs | 129.8 | 90.7 | Regulatory Asset for Under-Recovered Fuel Costs | 307.0 | 90.7 | ||||||||||||||||||||||
Margin Deposits | Margin Deposits | 91.0 | 62.0 | Margin Deposits | 73.2 | 62.0 | ||||||||||||||||||||||
Prepayments and Other Current Assets | Prepayments and Other Current Assets | 124.5 | 127.0 | Prepayments and Other Current Assets | 135.1 | 127.0 | ||||||||||||||||||||||
TOTAL CURRENT ASSETS | TOTAL CURRENT ASSETS | 4,258.4 | 4,351.5 | TOTAL CURRENT ASSETS | 5,785.1 | 4,351.5 | ||||||||||||||||||||||
PROPERTY, PLANT AND EQUIPMENT | PROPERTY, PLANT AND EQUIPMENT | PROPERTY, PLANT AND EQUIPMENT | ||||||||||||||||||||||||||
Electric: | Electric: | Electric: | ||||||||||||||||||||||||||
Generation | Generation | 23,186.5 | 23,133.9 | Generation | 24,135.9 | 23,133.9 | ||||||||||||||||||||||
Transmission | Transmission | 28,359.9 | 27,886.7 | Transmission | 29,555.1 | 27,886.7 | ||||||||||||||||||||||
Distribution | Distribution | 24,311.8 | 23,972.1 | Distribution | 25,057.7 | 23,972.1 | ||||||||||||||||||||||
Other Property, Plant and Equipment (Including Coal Mining and Nuclear Fuel) | Other Property, Plant and Equipment (Including Coal Mining and Nuclear Fuel) | 5,465.2 | 5,294.6 | Other Property, Plant and Equipment (Including Coal Mining and Nuclear Fuel) | 5,668.5 | 5,294.6 | ||||||||||||||||||||||
Construction Work in Progress | Construction Work in Progress | 4,289.5 | 4,025.7 | Construction Work in Progress | 4,151.0 | 4,025.7 | ||||||||||||||||||||||
Total Property, Plant and Equipment | Total Property, Plant and Equipment | 85,612.9 | 84,313.0 | Total Property, Plant and Equipment | 88,568.2 | 84,313.0 | ||||||||||||||||||||||
Accumulated Depreciation and Amortization | Accumulated Depreciation and Amortization | 20,916.8 | 20,411.4 | Accumulated Depreciation and Amortization | 21,877.0 | 20,411.4 | ||||||||||||||||||||||
TOTAL PROPERTY, PLANT AND EQUIPMENT – NET | TOTAL PROPERTY, PLANT AND EQUIPMENT – NET | 64,696.1 | 63,901.6 | TOTAL PROPERTY, PLANT AND EQUIPMENT – NET | 66,691.2 | 63,901.6 | ||||||||||||||||||||||
OTHER NONCURRENT ASSETS | OTHER NONCURRENT ASSETS | OTHER NONCURRENT ASSETS | ||||||||||||||||||||||||||
Regulatory Assets | Regulatory Assets | 4,885.6 | 3,527.0 | Regulatory Assets | 5,031.5 | 3,527.0 | ||||||||||||||||||||||
Securitized Assets | Securitized Assets | 632.5 | 657.0 | Securitized Assets | 580.4 | 657.0 | ||||||||||||||||||||||
Spent Nuclear Fuel and Decommissioning Trusts | Spent Nuclear Fuel and Decommissioning Trusts | 3,414.3 | 3,306.7 | Spent Nuclear Fuel and Decommissioning Trusts | 3,609.8 | 3,306.7 | ||||||||||||||||||||||
Goodwill | Goodwill | 52.5 | 52.5 | Goodwill | 52.5 | 52.5 | ||||||||||||||||||||||
Long-term Risk Management Assets | Long-term Risk Management Assets | 264.8 | 242.2 | Long-term Risk Management Assets | 278.3 | 242.2 | ||||||||||||||||||||||
Operating Lease Assets | Operating Lease Assets | 818.9 | 866.4 | Operating Lease Assets | 779.8 | 866.4 | ||||||||||||||||||||||
Deferred Charges and Other Noncurrent Assets | Deferred Charges and Other Noncurrent Assets | 3,962.0 | 3,852.3 | Deferred Charges and Other Noncurrent Assets | 3,528.5 | 3,852.3 | ||||||||||||||||||||||
TOTAL OTHER NONCURRENT ASSETS | TOTAL OTHER NONCURRENT ASSETS | 14,030.6 | 12,504.1 | TOTAL OTHER NONCURRENT ASSETS | 13,860.8 | 12,504.1 | ||||||||||||||||||||||
TOTAL ASSETS | TOTAL ASSETS | $ | 82,985.1 | $ | 80,757.2 | TOTAL ASSETS | $ | 86,337.1 | $ | 80,757.2 | ||||||||||||||||||
March 31, | December 31, | September 30, | December 31, | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
CURRENT LIABILITIES | CURRENT LIABILITIES | CURRENT LIABILITIES | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accounts Payable | Accounts Payable | $ | 1,703.9 | $ | 1,709.7 | Accounts Payable | $ | 1,597.1 | $ | 1,709.7 | ||||||||||||||||||||||||||||||||||||||||||||||||
Short-term Debt: | Short-term Debt: | Short-term Debt: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Securitized Debt for Receivables – AEP Credit | Securitized Debt for Receivables – AEP Credit | 669.0 | 592.0 | Securitized Debt for Receivables – AEP Credit | 750.0 | 592.0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Short-term Debt | Other Short-term Debt | 2,379.4 | 1,887.3 | Other Short-term Debt | 1,754.0 | 1,887.3 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Short-term Debt | Total Short-term Debt | 3,048.4 | 2,479.3 | Total Short-term Debt | 2,504.0 | 2,479.3 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Long-term Debt Due Within One Year (March 31, 2021 and December 31, 2020 Amounts Include $192.3 and $198.3, Respectively, Related to Sabine, DCC Fuel, Transition Funding, Restoration Funding, Appalachian Consumer Rate Relief Funding and Transource Energy) | 2,130.2 | 2,086.1 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Long-term Debt Due Within One Year (September 30, 2021 and December 31, 2020 Amounts Include $203.2 and $198.3, Respectively, Related to Sabine, DCC Fuel, Transition Funding, Restoration Funding, Appalachian Consumer Rate Relief Funding and Transource Energy) | Long-term Debt Due Within One Year (September 30, 2021 and December 31, 2020 Amounts Include $203.2 and $198.3, Respectively, Related to Sabine, DCC Fuel, Transition Funding, Restoration Funding, Appalachian Consumer Rate Relief Funding and Transource Energy) | 2,521.8 | 2,086.1 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Risk Management Liabilities | Risk Management Liabilities | 39.1 | 78.8 | Risk Management Liabilities | 106.5 | 78.8 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Customer Deposits | Customer Deposits | 331.0 | 335.6 | Customer Deposits | 400.2 | 335.6 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued Taxes | Accrued Taxes | 1,397.9 | 1,476.4 | Accrued Taxes | 1,046.6 | 1,476.4 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued Interest | Accrued Interest | 324.2 | 267.6 | Accrued Interest | 349.7 | 267.6 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Obligations Under Operating Leases | Obligations Under Operating Leases | 240.6 | 241.3 | Obligations Under Operating Leases | 241.8 | 241.3 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Regulatory Liability for Over-Recovered Fuel Costs | Regulatory Liability for Over-Recovered Fuel Costs | 39.1 | 52.6 | Regulatory Liability for Over-Recovered Fuel Costs | 3.5 | 52.6 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Current Liabilities | Other Current Liabilities | 965.7 | 1,199.3 | Other Current Liabilities | 1,182.8 | 1,199.3 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
TOTAL CURRENT LIABILITIES | TOTAL CURRENT LIABILITIES | 10,220.1 | 9,926.7 | TOTAL CURRENT LIABILITIES | 9,954.0 | 9,926.7 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
NONCURRENT LIABILITIES | NONCURRENT LIABILITIES | NONCURRENT LIABILITIES | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Long-term Debt (March 31, 2021 and December 31, 2020 Amounts Include $921.1 and $950.1, Respectively, Related to Sabine, DCC Fuel, Transition Funding, Restoration Funding, Appalachian Consumer Rate Relief Funding and Transource Energy) | 30,214.8 | 28,986.4 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Long-term Debt (September 30, 2021 and December 31, 2020 Amounts Include $887 and $950.1, Respectively, Related to Sabine, DCC Fuel, Transition Funding, Restoration Funding, Appalachian Consumer Rate Relief Funding and Transource Energy) | Long-term Debt (September 30, 2021 and December 31, 2020 Amounts Include $887 and $950.1, Respectively, Related to Sabine, DCC Fuel, Transition Funding, Restoration Funding, Appalachian Consumer Rate Relief Funding and Transource Energy) | 32,056.5 | 28,986.4 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Long-term Risk Management Liabilities | Long-term Risk Management Liabilities | 273.0 | 232.8 | Long-term Risk Management Liabilities | 199.6 | 232.8 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Deferred Income Taxes | Deferred Income Taxes | 8,349.9 | 8,240.9 | Deferred Income Taxes | 8,644.8 | 8,240.9 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Regulatory Liabilities and Deferred Investment Tax Credits | Regulatory Liabilities and Deferred Investment Tax Credits | 8,466.1 | 8,378.7 | Regulatory Liabilities and Deferred Investment Tax Credits | 8,687.8 | 8,378.7 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Asset Retirement Obligations | Asset Retirement Obligations | 2,483.7 | 2,469.2 | Asset Retirement Obligations | 2,612.0 | 2,469.2 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Employee Benefits and Pension Obligations | Employee Benefits and Pension Obligations | 343.4 | 336.4 | Employee Benefits and Pension Obligations | 322.2 | 336.4 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Obligations Under Operating Leases | Obligations Under Operating Leases | 625.1 | 638.4 | Obligations Under Operating Leases | 586.8 | 638.4 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Deferred Credits and Other Noncurrent Liabilities | Deferred Credits and Other Noncurrent Liabilities | 733.7 | 728.0 | Deferred Credits and Other Noncurrent Liabilities | 672.9 | 728.0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
TOTAL NONCURRENT LIABILITIES | TOTAL NONCURRENT LIABILITIES | 51,489.7 | 50,010.8 | TOTAL NONCURRENT LIABILITIES | 53,782.6 | 50,010.8 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
TOTAL LIABILITIES | TOTAL LIABILITIES | 61,709.8 | 59,937.5 | TOTAL LIABILITIES | 63,736.6 | 59,937.5 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Rate Matters (Note 4) | Rate Matters (Note 4) | 0 | 0 | Rate Matters (Note 4) | 0 | 0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Commitments and Contingencies (Note 5) | Commitments and Contingencies (Note 5) | 0 | 0 | Commitments and Contingencies (Note 5) | 0 | 0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
MEZZANINE EQUITY | MEZZANINE EQUITY | MEZZANINE EQUITY | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Contingently Redeemable Performance Share Awards | Contingently Redeemable Performance Share Awards | 55.3 | 45.2 | Contingently Redeemable Performance Share Awards | 73.3 | 45.2 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
TOTAL MEZZANINE EQUITY | TOTAL MEZZANINE EQUITY | 55.3 | 45.2 | TOTAL MEZZANINE EQUITY | 73.3 | 45.2 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
EQUITY | EQUITY | EQUITY | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common Stock – Par Value – $6.50 Per Share: | Common Stock – Par Value – $6.50 Per Share: | Common Stock – Par Value – $6.50 Per Share: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares Authorized | Shares Authorized | 600,000,000 | 600,000,000 | Shares Authorized | 600,000,000 | 600,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares Issued | Shares Issued | 519,450,026 | 516,808,354 | Shares Issued | 523,773,631 | 516,808,354 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
(20,204,160 Shares were Held in Treasury as of March 31, 2021 and December 31, 2020, Respectively) | 3,376.4 | 3,359.3 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(20,204,160 Shares were Held in Treasury as of September 30, 2021 and December 31, 2020, Respectively) | (20,204,160 Shares were Held in Treasury as of September 30, 2021 and December 31, 2020, Respectively) | 3,404.5 | 3,359.3 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Paid-in Capital | Paid-in Capital | 6,734.5 | 6,588.9 | Paid-in Capital | 7,075.9 | 6,588.9 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Retained Earnings | Retained Earnings | 10,892.7 | 10,687.8 | Retained Earnings | 11,523.0 | 10,687.8 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Accumulated Other Comprehensive Income (Loss) | Accumulated Other Comprehensive Income (Loss) | (30.8) | (85.1) | Accumulated Other Comprehensive Income (Loss) | 274.7 | (85.1) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
TOTAL AEP COMMON SHAREHOLDERS’ EQUITY | TOTAL AEP COMMON SHAREHOLDERS’ EQUITY | 20,972.8 | 20,550.9 | TOTAL AEP COMMON SHAREHOLDERS’ EQUITY | 22,278.1 | 20,550.9 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Noncontrolling Interests | Noncontrolling Interests | 247.2 | 223.6 | Noncontrolling Interests | 249.1 | 223.6 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
TOTAL EQUITY | TOTAL EQUITY | 21,220.0 | 20,774.5 | TOTAL EQUITY | 22,527.2 | 20,774.5 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
TOTAL LIABILITIES, MEZZANINE EQUITY AND TOTAL EQUITY | TOTAL LIABILITIES, MEZZANINE EQUITY AND TOTAL EQUITY | $ | 82,985.1 | $ | 80,757.2 | TOTAL LIABILITIES, MEZZANINE EQUITY AND TOTAL EQUITY | $ | 86,337.1 | $ | 80,757.2 | ||||||||||||||||||||||||||||||||||||||||||||||||
Three Months Ended March 31, | ||||||||||||||
2021 | 2020 | |||||||||||||
OPERATING ACTIVITIES | ||||||||||||||
Net Income | $ | 578.8 | $ | 499.3 | ||||||||||
Adjustments to Reconcile Net Income to Net Cash Flows from Operating Activities: | �� | |||||||||||||
Depreciation and Amortization | 696.3 | 672.2 | ||||||||||||
Rockport Plant, Unit 2 Operating Lease Amortization | 32.8 | 34.1 | ||||||||||||
Deferred Income Taxes | 44.3 | 27.9 | ||||||||||||
Allowance for Equity Funds Used During Construction | (33.4) | (31.4) | ||||||||||||
Mark-to-Market of Risk Management Contracts | 21.0 | 57.4 | ||||||||||||
Amortization of Nuclear Fuel | 22.7 | 23.4 | ||||||||||||
Property Taxes | (74.8) | (59.8) | ||||||||||||
Deferred Fuel Over/Under-Recovery, Net | (1,225.1) | 63.1 | ||||||||||||
Change in Other Noncurrent Assets | (168.9) | (84.9) | ||||||||||||
Change in Other Noncurrent Liabilities | 83.5 | (74.8) | ||||||||||||
Changes in Certain Components of Working Capital: | ||||||||||||||
Accounts Receivable, Net | (12.9) | (32.6) | ||||||||||||
Fuel, Materials and Supplies | 39.5 | (35.8) | ||||||||||||
Accounts Payable | 171.8 | (111.1) | ||||||||||||
Accrued Taxes, Net | (80.8) | (93.9) | ||||||||||||
Other Current Assets | (26.3) | 5.3 | ||||||||||||
Other Current Liabilities | (185.7) | (242.7) | ||||||||||||
Net Cash Flows from (Used for) Operating Activities | (117.2) | 615.7 | ||||||||||||
INVESTING ACTIVITIES | ||||||||||||||
Construction Expenditures | (1,492.7) | (1,792.7) | ||||||||||||
Purchases of Investment Securities | (337.6) | (632.7) | ||||||||||||
Sales of Investment Securities | 325.5 | 635.6 | ||||||||||||
Acquisitions of Nuclear Fuel | (55.9) | (1.3) | ||||||||||||
Acquisition of the Dry Lake Solar Project | (102.9) | 0 | ||||||||||||
Other Investing Activities | 29.4 | 25.1 | ||||||||||||
Net Cash Flows Used for Investing Activities | (1,634.2) | (1,766.0) | ||||||||||||
FINANCING ACTIVITIES | ||||||||||||||
Issuance of Common Stock | 184.6 | 56.1 | ||||||||||||
Issuance of Long-term Debt | 1,951.5 | 1,418.9 | ||||||||||||
Issuance of Short-term Debt with Original Maturities greater than 90 Days | 644.2 | 1,297.5 | ||||||||||||
Change in Short-term Debt with Original Maturities less than 90 Days, Net | 16.9 | 328.3 | ||||||||||||
Retirement of Long-term Debt | (650.7) | (300.5) | ||||||||||||
Redemption of Short-term Debt with Original Maturities Greater than 90 Days | (92.0) | 0 | ||||||||||||
Principal Payments for Finance Lease Obligations | (15.0) | (15.4) | ||||||||||||
Dividends Paid on Common Stock | (372.0) | (363.7) | ||||||||||||
Other Financing Activities | (30.4) | (32.7) | ||||||||||||
Net Cash Flows from Financing Activities | 1,637.1 | 2,388.5 | ||||||||||||
Net Increase (Decrease) in Cash and Cash Equivalents | (114.3) | 1,238.2 | ||||||||||||
Cash, Cash Equivalents and Restricted Cash at Beginning of Period | 438.3 | 432.6 | ||||||||||||
Cash, Cash Equivalents and Restricted Cash at End of Period | $ | 324.0 | $ | 1,670.8 | ||||||||||
SUPPLEMENTARY INFORMATION | ||||||||||||||
Cash Paid for Interest, Net of Capitalized Amounts | $ | 220.5 | $ | 212.6 | ||||||||||
Net Cash Paid (Received) for Income Taxes | (0.2) | (0.6) | ||||||||||||
Noncash Acquisitions Under Finance Leases | 9.0 | 19.4 | ||||||||||||
Construction Expenditures Included in Current Liabilities as of March 31, | 762.7 | 874.1 | ||||||||||||
Construction Expenditures Included in Noncurrent Liabilities as of March 31, | 0 | 8.3 | ||||||||||||
Acquisition of Nuclear Fuel Included in Current Liabilities as of March 31, | 6.7 | 0 | ||||||||||||
Expected Reimbursement for Spent Nuclear Fuel Dry Cask Storage | 0.1 | 1.3 | ||||||||||||
Noncontrolling Interest Assumed with the Dry Lake Solar Project Acquisition | 18.9 | 0 | ||||||||||||
Nine Months Ended September 30, | ||||||||||||||
2021 | 2020 | |||||||||||||
OPERATING ACTIVITIES | ||||||||||||||
Net Income | $ | 1,949.5 | $ | 1,762.0 | ||||||||||
Adjustments to Reconcile Net Income to Net Cash Flows from Operating Activities: | ||||||||||||||
Depreciation and Amortization | 2,103.9 | 1,996.3 | ||||||||||||
Rockport Rent, Unit 2 Operating Lease Amortization | 100.8 | 102.4 | ||||||||||||
Deferred Income Taxes | 191.1 | 142.5 | ||||||||||||
Allowance for Equity Funds Used During Construction | (103.9) | (111.7) | ||||||||||||
Mark-to-Market of Risk Management Contracts | 101.0 | 46.4 | ||||||||||||
Amortization of Nuclear Fuel | 61.9 | 67.2 | ||||||||||||
Pension Contributions to Qualified Plan Trust | — | (110.3) | ||||||||||||
Property Taxes | 415.1 | 396.9 | ||||||||||||
Deferred Fuel Over/Under-Recovery, Net | (1,356.8) | 27.4 | ||||||||||||
Change in Other Noncurrent Assets | (270.7) | (322.0) | ||||||||||||
Change in Other Noncurrent Liabilities | 162.7 | (25.1) | ||||||||||||
Changes in Certain Components of Working Capital: | ||||||||||||||
Accounts Receivable, Net | (199.2) | (138.9) | ||||||||||||
Fuel, Materials and Supplies | 347.4 | (97.4) | ||||||||||||
Accounts Payable | 107.6 | 21.9 | ||||||||||||
Accrued Taxes, Net | (471.1) | (502.9) | ||||||||||||
Rockport Plant, Unit 2 Operating Lease Payments | (73.9) | (73.9) | ||||||||||||
Other Current Assets | (33.3) | 26.0 | ||||||||||||
Other Current Liabilities | (59.1) | (284.6) | ||||||||||||
Net Cash Flows from Operating Activities | 2,973.0 | 2,922.2 | ||||||||||||
INVESTING ACTIVITIES | ||||||||||||||
Construction Expenditures | (4,087.0) | (4,690.4) | ||||||||||||
Purchases of Investment Securities | (1,612.3) | (1,329.5) | ||||||||||||
Sales of Investment Securities | 1,571.7 | 1,293.0 | ||||||||||||
Acquisitions of Nuclear Fuel | (63.2) | (68.4) | ||||||||||||
Acquisition of the Dry Lake Solar Project | (114.4) | — | ||||||||||||
Acquisition of the North Central Wind Energy Facilities | (652.8) | — | ||||||||||||
Other Investing Activities | 51.8 | 88.0 | ||||||||||||
Net Cash Flows Used for Investing Activities | (4,906.2) | (4,707.3) | ||||||||||||
FINANCING ACTIVITIES | ||||||||||||||
Issuance of Common Stock | 548.0 | 136.5 | ||||||||||||
Issuance of Long-term Debt | 5,062.3 | 3,985.8 | ||||||||||||
Issuance of Short-term Debt with Original Maturities greater than 90 Days | 1,178.5 | 1,304.5 | ||||||||||||
Change in Short-term Debt with Original Maturities less than 90 Days, Net | (632.5) | (1,445.8) | ||||||||||||
Retirement of Long-term Debt | (1,549.8) | (700.5) | ||||||||||||
Redemption of Short-term Debt with Original Maturities Greater than 90 Days | (521.3) | (300.0) | ||||||||||||
Principal Payments for Finance Lease Obligations | (45.3) | (46.3) | ||||||||||||
Dividends Paid on Common Stock | (1,122.7) | (1,055.7) | ||||||||||||
Redemption of Noncontrolling Interest in Trent and Desert Sky Windfarms | — | (56.5) | ||||||||||||
Other Financing Activities | 4.4 | (5.7) | ||||||||||||
Net Cash Flows from Financing Activities | 2,921.6 | 1,816.3 | ||||||||||||
Net Increase in Cash and Cash Equivalents | 988.4 | 31.2 | ||||||||||||
Cash, Cash Equivalents and Restricted Cash at Beginning of Period | 438.3 | 432.6 | ||||||||||||
Cash, Cash Equivalents and Restricted Cash at End of Period | $ | 1,426.7 | $ | 463.8 | ||||||||||
SUPPLEMENTARY INFORMATION | ||||||||||||||
Cash Paid for Interest, Net of Capitalized Amounts | $ | 775.2 | $ | 690.5 | ||||||||||
Net Cash Paid (Received) for Income Taxes | 9.3 | (23.9) | ||||||||||||
Noncash Acquisitions Under Finance Leases | 23.0 | 33.0 | ||||||||||||
Construction Expenditures Included in Current Liabilities as of September 30, | 764.1 | 830.1 | ||||||||||||
Construction Expenditures Included in Noncurrent Liabilities as of September 30, | — | 8.3 | ||||||||||||
Acquisition of Nuclear Fuel Included in Current Liabilities as of September 30, | 0.3 | 1.0 | ||||||||||||
Noncash Contribution of Assets to Cedar Creek Project | (9.3) | — | ||||||||||||
Expected Reimbursement for Spent Nuclear Fuel Dry Cask Storage | 0.6 | 2.4 | ||||||||||||
Noncontrolling Interest Assumed - Dry Lake Solar Project | 35.0 | — | ||||||||||||
Forward Equity Purchase Contract Included in Current and Noncurrent Liabilities as of September 30, | — | 120.6 | ||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||||||||||||||||||||||||||||||||
Three Months Ended March 31, | September 30, | September 30, | ||||||||||||||||||||||||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | 2021 | 2020 | |||||||||||||||||||||||||||||||||||||||||
(in millions of KWhs) | (in millions of KWhs) | |||||||||||||||||||||||||||||||||||||||||||||
Retail: | Retail: | Retail: | ||||||||||||||||||||||||||||||||||||||||||||
Residential | Residential | 2,818 | 2,466 | Residential | 3,997 | 4,112 | 9,821 | 9,736 | ||||||||||||||||||||||||||||||||||||||
Commercial | Commercial | 2,074 | 2,357 | Commercial | 3,014 | 2,941 | 7,907 | 7,700 | ||||||||||||||||||||||||||||||||||||||
Industrial | Industrial | 1,880 | 2,365 | Industrial | 2,414 | 2,037 | 6,898 | 6,618 | ||||||||||||||||||||||||||||||||||||||
Miscellaneous | Miscellaneous | 137 | 152 | Miscellaneous | 182 | 184 | 478 | 486 | ||||||||||||||||||||||||||||||||||||||
Total Retail | Total Retail | 6,909 | 7,340 | Total Retail | 9,607 | 9,274 | 25,104 | 24,540 |
Three Months Ended | Nine Months Ended | |||||||||||||||||||||||||||||||||||||||||||||
Three Months Ended March 31, | September 30, | September 30, | ||||||||||||||||||||||||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | 2021 | 2020 | |||||||||||||||||||||||||||||||||||||||||
(in degree days) | (in degree days) | |||||||||||||||||||||||||||||||||||||||||||||
Actual – Heating (a) | Actual – Heating (a) | 315 | 91 | Actual – Heating (a) | — | 1 | 319 | 98 | ||||||||||||||||||||||||||||||||||||||
Normal – Heating (b) | Normal – Heating (b) | 185 | 185 | Normal – Heating (b) | — | — | 188 | 188 | ||||||||||||||||||||||||||||||||||||||
Actual – Cooling (c) | Actual – Cooling (c) | 137 | 231 | Actual – Cooling (c) | 1,308 | 1,357 | 2,278 | 2,524 | ||||||||||||||||||||||||||||||||||||||
Normal – Cooling (b) | Normal – Cooling (b) | 126 | 125 | Normal – Cooling (b) | 1,379 | 1,378 | 2,436 | 2,436 |
AEP Texas Inc. and Subsidiaries | ||||||||
Reconciliation of | ||||||||
Net Income | ||||||||
(in millions) | ||||||||
$ | ||||||||
Changes in Gross Margin: | ||||||||
Retail Margins | ||||||||
Margins from Off-system Sales | ||||||||
Transmission Revenues | ||||||||
Other Revenues | ||||||||
Total Change in Gross Margin | ||||||||
Changes in Expenses and Other: | ||||||||
Other Operation and Maintenance | ||||||||
Depreciation and Amortization | ||||||||
Taxes Other Than Income Taxes | ||||||||
Interest Income | ||||||||
Allowance for Equity Funds Used During Construction | ||||||||
Interest Expense | ||||||||
Total Change in Expenses and Other | ||||||||
Income Tax Expense | ||||||||
$ |
AEP Texas Inc. and Subsidiaries | ||||||||
Reconciliation of Nine Months Ended September 30, 2020 to Nine Months Ended September 30, 2021 | ||||||||
Net Income | ||||||||
(in millions) | ||||||||
Nine Months Ended September 30, 2020 | $ | 197.1 | ||||||
Changes in Gross Margin: | ||||||||
Retail Margins | 54.2 | |||||||
Margins from Off-system Sales | (73.2) | |||||||
Transmission Revenues | 74.5 | |||||||
Other Revenues | (103.7) | |||||||
Total Change in Gross Margin | (48.2) | |||||||
Changes in Expenses and Other: | ||||||||
Other Operation and Maintenance | (18.1) | |||||||
Depreciation and Amortization | 148.7 | |||||||
Taxes Other Than Income Taxes | (10.7) | |||||||
Interest Income | (0.6) | |||||||
Allowance for Equity Funds Used During Construction | 2.3 | |||||||
Non-Service Cost Components of Net Periodic Benefit Cost | (0.1) | |||||||
Interest Expense | (3.3) | |||||||
Total Change in Expenses and Other | 118.2 | |||||||
Income Tax Expense | (41.7) | |||||||
Nine Months Ended September 30, 2021 | $ | 225.4 |
Three Months Ended | Nine Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||
Three Months Ended March 31, | September 30, | September 30, | ||||||||||||||||||||||||||||||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | 2021 | 2020 | |||||||||||||||||||||||||||||||||||||||||||||||
REVENUES | REVENUES | REVENUES | ||||||||||||||||||||||||||||||||||||||||||||||||||
Electric Transmission and Distribution | Electric Transmission and Distribution | $ | 361.7 | $ | 391.6 | Electric Transmission and Distribution | $ | 430.8 | $ | 390.1 | $ | 1,189.1 | $ | 1,165.2 | ||||||||||||||||||||||||||||||||||||||
Sales to AEP Affiliates | Sales to AEP Affiliates | 1.0 | 31.1 | Sales to AEP Affiliates | 0.9 | 41.4 | 2.9 | 89.4 | ||||||||||||||||||||||||||||||||||||||||||||
Other Revenues | Other Revenues | 1.5 | 0.9 | Other Revenues | 0.9 | 0.5 | 3.3 | 2.5 | ||||||||||||||||||||||||||||||||||||||||||||
TOTAL REVENUES | TOTAL REVENUES | 364.2 | 423.6 | TOTAL REVENUES | 432.6 | 432.0 | 1,195.3 | 1,257.1 | ||||||||||||||||||||||||||||||||||||||||||||
EXPENSES | EXPENSES | EXPENSES | ||||||||||||||||||||||||||||||||||||||||||||||||||
Fuel and Other Consumables Used for Electric Generation | Fuel and Other Consumables Used for Electric Generation | — | 10.4 | — | 13.6 | |||||||||||||||||||||||||||||||||||||||||||||||
Other Operation | Other Operation | 122.2 | 117.5 | Other Operation | 135.3 | 134.3 | 367.1 | 344.7 | ||||||||||||||||||||||||||||||||||||||||||||
Maintenance | Maintenance | 19.1 | 20.6 | Maintenance | 22.0 | 20.4 | 59.8 | 64.1 | ||||||||||||||||||||||||||||||||||||||||||||
Depreciation and Amortization | Depreciation and Amortization | 97.5 | 162.5 | Depreciation and Amortization | 87.6 | 107.7 | 287.1 | 435.8 | ||||||||||||||||||||||||||||||||||||||||||||
Taxes Other Than Income Taxes | Taxes Other Than Income Taxes | 36.3 | 34.0 | Taxes Other Than Income Taxes | 41.6 | 38.7 | 117.4 | 106.7 | ||||||||||||||||||||||||||||||||||||||||||||
TOTAL EXPENSES | TOTAL EXPENSES | 275.1 | 334.6 | TOTAL EXPENSES | 286.5 | 311.5 | 831.4 | 964.9 | ||||||||||||||||||||||||||||||||||||||||||||
OPERATING INCOME | OPERATING INCOME | 89.1 | 89.0 | OPERATING INCOME | 146.1 | 120.5 | 363.9 | 292.2 | ||||||||||||||||||||||||||||||||||||||||||||
Other Income (Expense): | Other Income (Expense): | Other Income (Expense): | ||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Income | Interest Income | 0.2 | 0.6 | Interest Income | 0.2 | 0.5 | 0.6 | 1.2 | ||||||||||||||||||||||||||||||||||||||||||||
Allowance for Equity Funds Used During Construction | Allowance for Equity Funds Used During Construction | 4.1 | 5.1 | Allowance for Equity Funds Used During Construction | 9.2 | 4.4 | 16.7 | 14.4 | ||||||||||||||||||||||||||||||||||||||||||||
Non-Service Cost Components of Net Periodic Benefit Cost | Non-Service Cost Components of Net Periodic Benefit Cost | 2.8 | 2.8 | Non-Service Cost Components of Net Periodic Benefit Cost | 2.8 | 2.8 | 8.3 | 8.4 | ||||||||||||||||||||||||||||||||||||||||||||
Interest Expense | Interest Expense | (43.0) | (42.5) | Interest Expense | (44.2) | (44.5) | (132.5) | (129.2) | ||||||||||||||||||||||||||||||||||||||||||||
INCOME BEFORE INCOME TAX EXPENSE | 53.2 | 55.0 | ||||||||||||||||||||||||||||||||||||||||||||||||||
INCOME BEFORE INCOME TAX EXPENSE (BENEFIT) | INCOME BEFORE INCOME TAX EXPENSE (BENEFIT) | 114.1 | 83.7 | 257.0 | 187.0 | |||||||||||||||||||||||||||||||||||||||||||||||
Income Tax Expense | 7.1 | 7.4 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Income Tax Expense (Benefit) | Income Tax Expense (Benefit) | 14.6 | 1.1 | 31.6 | (10.1) | |||||||||||||||||||||||||||||||||||||||||||||||
NET INCOME | NET INCOME | $ | 46.1 | $ | 47.6 | NET INCOME | $ | 99.5 | $ | 82.6 | $ | 225.4 | $ | 197.1 | ||||||||||||||||||||||||||||||||||||||
The common stock of AEP Texas is wholly-owned by Parent. | The common stock of AEP Texas is wholly-owned by Parent. | The common stock of AEP Texas is wholly-owned by Parent. | ||||||||||||||||||||||||||||||||||||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||
Three Months Ended March 31, | September 30, | September 30, | ||||||||||||||||||||||||||||||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | 2021 | 2020 | |||||||||||||||||||||||||||||||||||||||||||||||
Net Income | Net Income | $ | 46.1 | $ | 47.6 | Net Income | $ | 99.5 | $ | 82.6 | $ | 225.4 | $ | 197.1 | ||||||||||||||||||||||||||||||||||||||
OTHER COMPREHENSIVE INCOME, NET OF TAXES | OTHER COMPREHENSIVE INCOME, NET OF TAXES | OTHER COMPREHENSIVE INCOME, NET OF TAXES | ||||||||||||||||||||||||||||||||||||||||||||||||||
Cash Flow Hedges, Net of Tax of $0.1 and $0.1 in 2021 and 2020, Respectively | 0.3 | 0.3 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Cash Flow Hedges, Net of Tax of $0.1 and $0.1 for the Three Months Ended September 30, 2021 and 2020, Respectively, and $0.2 and $0.2 for the Nine Months Ended September 30, 2021 and 2020, Respectively | Cash Flow Hedges, Net of Tax of $0.1 and $0.1 for the Three Months Ended September 30, 2021 and 2020, Respectively, and $0.2 and $0.2 for the Nine Months Ended September 30, 2021 and 2020, Respectively | 0.3 | 0.3 | 0.8 | 0.8 | |||||||||||||||||||||||||||||||||||||||||||||||
Amortization of Pension and OPEB Deferred Costs, Net of Tax of $0 and $0 for the Three Months Ended September 30, 2021 and 2020, Respectively, and $0 and $0 for the Nine Months Ended September 30, 2021 and 2020, Respectively | Amortization of Pension and OPEB Deferred Costs, Net of Tax of $0 and $0 for the Three Months Ended September 30, 2021 and 2020, Respectively, and $0 and $0 for the Nine Months Ended September 30, 2021 and 2020, Respectively | — | — | 0.1 | 0.1 | |||||||||||||||||||||||||||||||||||||||||||||||
TOTAL OTHER COMPREHENSIVE INCOME | TOTAL OTHER COMPREHENSIVE INCOME | 0.3 | 0.3 | 0.9 | 0.9 | |||||||||||||||||||||||||||||||||||||||||||||||
TOTAL COMPREHENSIVE INCOME | TOTAL COMPREHENSIVE INCOME | $ | 46.4 | $ | 47.9 | TOTAL COMPREHENSIVE INCOME | $ | 99.8 | $ | 82.9 | $ | 226.3 | $ | 198.0 | ||||||||||||||||||||||||||||||||||||||
Paid-in Capital | Retained Earnings | Accumulated Other Comprehensive Income (Loss) | Total | Paid-in Capital | Retained Earnings | Accumulated Other Comprehensive Income (Loss) | Total | |||||||||||||||||||||||||||||||||||||||||||||
TOTAL COMMON SHAREHOLDER’S EQUITY – DECEMBER 31, 2019 | TOTAL COMMON SHAREHOLDER’S EQUITY – DECEMBER 31, 2019 | $ | 1,457.9 | $ | 1,516.0 | $ | (12.8) | $ | 2,961.1 | TOTAL COMMON SHAREHOLDER’S EQUITY – DECEMBER 31, 2019 | $ | 1,457.9 | $ | 1,516.0 | $ | (12.8) | $ | 2,961.1 | ||||||||||||||||||||||||||||||||||
Net Income | Net Income | 47.6 | 47.6 | Net Income | 47.6 | 47.6 | ||||||||||||||||||||||||||||||||||||||||||||||
Other Comprehensive Income | Other Comprehensive Income | 0.3 | 0.3 | Other Comprehensive Income | 0.3 | 0.3 | ||||||||||||||||||||||||||||||||||||||||||||||
TOTAL COMMON SHAREHOLDER’S EQUITY – MARCH 31, 2020 | TOTAL COMMON SHAREHOLDER’S EQUITY – MARCH 31, 2020 | $ | 1,457.9 | $ | 1,563.6 | $ | (12.5) | $ | 3,009.0 | TOTAL COMMON SHAREHOLDER’S EQUITY – MARCH 31, 2020 | 1,457.9 | 1,563.6 | (12.5) | 3,009.0 | ||||||||||||||||||||||||||||||||||||||
Net Income | Net Income | 66.9 | 66.9 | |||||||||||||||||||||||||||||||||||||||||||||||||
Other Comprehensive Income | Other Comprehensive Income | 0.3 | 0.3 | |||||||||||||||||||||||||||||||||||||||||||||||||
TOTAL COMMON SHAREHOLDER’S EQUITY – JUNE 30, 2020 | TOTAL COMMON SHAREHOLDER’S EQUITY – JUNE 30, 2020 | 1,457.9 | 1,630.5 | (12.2) | 3,076.2 | |||||||||||||||||||||||||||||||||||||||||||||||
Net Income | Net Income | 82.6 | 82.6 | |||||||||||||||||||||||||||||||||||||||||||||||||
Other Comprehensive Income | Other Comprehensive Income | 0.3 | 0.3 | |||||||||||||||||||||||||||||||||||||||||||||||||
TOTAL COMMON SHAREHOLDER’S EQUITY – SEPTEMBER 30, 2020 | TOTAL COMMON SHAREHOLDER’S EQUITY – SEPTEMBER 30, 2020 | $ | 1,457.9 | $ | 1,713.1 | $ | (11.9) | $ | 3,159.1 | |||||||||||||||||||||||||||||||||||||||||||
TOTAL COMMON SHAREHOLDER’S EQUITY – DECEMBER 31, 2020 | TOTAL COMMON SHAREHOLDER’S EQUITY – DECEMBER 31, 2020 | $ | 1,457.9 | $ | 1,757.0 | $ | (8.9) | $ | 3,206.0 | TOTAL COMMON SHAREHOLDER’S EQUITY – DECEMBER 31, 2020 | $ | 1,457.9 | $ | 1,757.0 | $ | (8.9) | $ | 3,206.0 | ||||||||||||||||||||||||||||||||||
Net Income | Net Income | 46.1 | 46.1 | Net Income | 46.1 | 46.1 | ||||||||||||||||||||||||||||||||||||||||||||||
Other Comprehensive Income | Other Comprehensive Income | 0.3 | 0.3 | Other Comprehensive Income | 0.3 | 0.3 | ||||||||||||||||||||||||||||||||||||||||||||||
TOTAL COMMON SHAREHOLDER’S EQUITY – MARCH 31, 2021 | TOTAL COMMON SHAREHOLDER’S EQUITY – MARCH 31, 2021 | $ | 1,457.9 | $ | 1,803.1 | $ | (8.6) | $ | 3,252.4 | TOTAL COMMON SHAREHOLDER’S EQUITY – MARCH 31, 2021 | 1,457.9 | 1,803.1 | (8.6) | 3,252.4 | ||||||||||||||||||||||||||||||||||||||
Net Income | Net Income | 79.8 | 79.8 | |||||||||||||||||||||||||||||||||||||||||||||||||
Other Comprehensive Income | Other Comprehensive Income | 0.3 | 0.3 | |||||||||||||||||||||||||||||||||||||||||||||||||
TOTAL COMMON SHAREHOLDER’S EQUITY – JUNE 30, 2021 | TOTAL COMMON SHAREHOLDER’S EQUITY – JUNE 30, 2021 | 1,457.9 | 1,882.9 | (8.3) | 3,332.5 | |||||||||||||||||||||||||||||||||||||||||||||||
Net Income | Net Income | 99.5 | 99.5 | |||||||||||||||||||||||||||||||||||||||||||||||||
Other Comprehensive Income | Other Comprehensive Income | 0.3 | 0.3 | |||||||||||||||||||||||||||||||||||||||||||||||||
TOTAL COMMON SHAREHOLDER’S EQUITY – SEPTEMBER 30, 2021 | TOTAL COMMON SHAREHOLDER’S EQUITY – SEPTEMBER 30, 2021 | $ | 1,457.9 | $ | 1,982.4 | $ | (8.0) | $ | 3,432.3 | |||||||||||||||||||||||||||||||||||||||||||
March 31, | December 31, | September 30, | December 31, | |||||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | |||||||||||||||||||||||||
CURRENT ASSETS | CURRENT ASSETS | CURRENT ASSETS | ||||||||||||||||||||||||||
Cash and Cash Equivalents | Cash and Cash Equivalents | $ | 0.1 | $ | 0.1 | Cash and Cash Equivalents | $ | 0.1 | $ | 0.1 | ||||||||||||||||||
Restricted Cash (March 31, 2021 and December 31, 2020 Amounts Include $39.3 and $28.7, Respectively, Related to Transition Funding and Restoration Funding) | 39.3 | 28.7 | ||||||||||||||||||||||||||
Restricted Cash (September 30, 2021 and December 31, 2020 Amounts Include $43.9 and $28.7, Respectively, Related to Transition Funding and Restoration Funding) | Restricted Cash (September 30, 2021 and December 31, 2020 Amounts Include $43.9 and $28.7, Respectively, Related to Transition Funding and Restoration Funding) | 43.9 | 28.7 | |||||||||||||||||||||||||
Advances to Affiliates | Advances to Affiliates | 6.8 | 7.1 | Advances to Affiliates | 54.6 | 7.1 | ||||||||||||||||||||||
Accounts Receivable: | Accounts Receivable: | Accounts Receivable: | ||||||||||||||||||||||||||
Customers | Customers | 129.3 | 112.8 | Customers | 142.1 | 112.8 | ||||||||||||||||||||||
Affiliated Companies | Affiliated Companies | 7.2 | 5.1 | Affiliated Companies | 4.8 | 5.1 | ||||||||||||||||||||||
Accrued Unbilled Revenues | Accrued Unbilled Revenues | 58.2 | 65.8 | Accrued Unbilled Revenues | 81.0 | 65.8 | ||||||||||||||||||||||
Allowance for Uncollectible Accounts | Allowance for Uncollectible Accounts | (4.3) | (0.1) | Allowance for Uncollectible Accounts | (4.1) | (0.1) | ||||||||||||||||||||||
Total Accounts Receivable | Total Accounts Receivable | 190.4 | 183.6 | Total Accounts Receivable | 223.8 | 183.6 | ||||||||||||||||||||||
Materials and Supplies | Materials and Supplies | 69.8 | 70.0 | Materials and Supplies | 72.5 | 70.0 | ||||||||||||||||||||||
Accrued Tax Benefits | Accrued Tax Benefits | 11.4 | 16.8 | Accrued Tax Benefits | 23.7 | 16.8 | ||||||||||||||||||||||
Prepayments and Other Current Assets | Prepayments and Other Current Assets | 4.7 | 4.6 | Prepayments and Other Current Assets | 6.9 | 4.6 | ||||||||||||||||||||||
TOTAL CURRENT ASSETS | TOTAL CURRENT ASSETS | 322.5 | 310.9 | TOTAL CURRENT ASSETS | 425.5 | 310.9 | ||||||||||||||||||||||
PROPERTY, PLANT AND EQUIPMENT | PROPERTY, PLANT AND EQUIPMENT | PROPERTY, PLANT AND EQUIPMENT | ||||||||||||||||||||||||||
Electric: | Electric: | Electric: | ||||||||||||||||||||||||||
Transmission | Transmission | 5,434.7 | 5,279.6 | Transmission | 5,627.1 | 5,279.6 | ||||||||||||||||||||||
Distribution | Distribution | 4,654.2 | 4,580.8 | Distribution | 4,823.7 | 4,580.8 | ||||||||||||||||||||||
Other Property, Plant and Equipment | Other Property, Plant and Equipment | 885.0 | 868.4 | Other Property, Plant and Equipment | 944.3 | 868.4 | ||||||||||||||||||||||
Construction Work in Progress | Construction Work in Progress | 567.8 | 614.1 | Construction Work in Progress | 539.4 | 614.1 | ||||||||||||||||||||||
Total Property, Plant and Equipment | Total Property, Plant and Equipment | 11,541.7 | 11,342.9 | Total Property, Plant and Equipment | 11,934.5 | 11,342.9 | ||||||||||||||||||||||
Accumulated Depreciation and Amortization | Accumulated Depreciation and Amortization | 1,565.9 | 1,529.3 | Accumulated Depreciation and Amortization | 1,621.1 | 1,529.3 | ||||||||||||||||||||||
TOTAL PROPERTY, PLANT AND EQUIPMENT – NET | TOTAL PROPERTY, PLANT AND EQUIPMENT – NET | 9,975.8 | 9,813.6 | TOTAL PROPERTY, PLANT AND EQUIPMENT – NET | 10,313.4 | 9,813.6 | ||||||||||||||||||||||
OTHER NONCURRENT ASSETS | OTHER NONCURRENT ASSETS | OTHER NONCURRENT ASSETS | ||||||||||||||||||||||||||
Regulatory Assets | Regulatory Assets | 274.5 | 266.8 | Regulatory Assets | 290.4 | 266.8 | ||||||||||||||||||||||
Securitized Assets (March 31, 2021 and December 31, 2020 Amounts Include $428.6 and $446.8, Respectively, Related to Transition Funding and Restoration Funding) | 428.6 | 446.8 | ||||||||||||||||||||||||||
Securitized Assets (September 30, 2021 and December 31, 2020 Amounts Include $389.1 and $446.8, Respectively, Related to Transition Funding and Restoration Funding) | Securitized Assets (September 30, 2021 and December 31, 2020 Amounts Include $389.1 and $446.8, Respectively, Related to Transition Funding and Restoration Funding) | 389.1 | 446.8 | |||||||||||||||||||||||||
Deferred Charges and Other Noncurrent Assets | Deferred Charges and Other Noncurrent Assets | 261.6 | 192.1 | Deferred Charges and Other Noncurrent Assets | 213.1 | 192.1 | ||||||||||||||||||||||
TOTAL OTHER NONCURRENT ASSETS | TOTAL OTHER NONCURRENT ASSETS | 964.7 | 905.7 | TOTAL OTHER NONCURRENT ASSETS | 892.6 | 905.7 | ||||||||||||||||||||||
TOTAL ASSETS | TOTAL ASSETS | $ | 11,263.0 | $ | 11,030.2 | TOTAL ASSETS | $ | 11,631.5 | $ | 11,030.2 | ||||||||||||||||||
March 31, | December 31, | September 30, | December 31, | |||||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | |||||||||||||||||||||||||
CURRENT LIABILITIES | CURRENT LIABILITIES | CURRENT LIABILITIES | ||||||||||||||||||||||||||
Advances from Affiliates | Advances from Affiliates | $ | 284.0 | $ | 67.1 | Advances from Affiliates | $ | — | $ | 67.1 | ||||||||||||||||||
Accounts Payable: | Accounts Payable: | Accounts Payable: | ||||||||||||||||||||||||||
General | General | 198.8 | 231.7 | General | 194.3 | 231.7 | ||||||||||||||||||||||
Affiliated Companies | Affiliated Companies | 24.4 | 44.0 | Affiliated Companies | 29.4 | 44.0 | ||||||||||||||||||||||
Long-term Debt Due Within One Year – Nonaffiliated (March 31, 2021 and December 31, 2020 Amounts Include $88.9 and $88.7, Respectively, Related to Transition Funding and Restoration Funding) | 88.9 | 88.7 | ||||||||||||||||||||||||||
Long-term Debt Due Within One Year – Nonaffiliated (September 30, 2021 and December 31, 2020 Amounts Include $90.1 and $88.7, Respectively, Related to Transition Funding and Restoration Funding) | Long-term Debt Due Within One Year – Nonaffiliated (September 30, 2021 and December 31, 2020 Amounts Include $90.1 and $88.7, Respectively, Related to Transition Funding and Restoration Funding) | 315.1 | 88.7 | |||||||||||||||||||||||||
Accrued Taxes | Accrued Taxes | 107.1 | 78.3 | Accrued Taxes | 114.7 | 78.3 | ||||||||||||||||||||||
Accrued Interest (March 31, 2021 and December 31, 2020 Amounts Include $3.2 and $2.5, Respectively, Related to Transition Funding and Restoration Funding) | 54.7 | 43.9 | ||||||||||||||||||||||||||
Accrued Interest (September 30, 2021 and December 31, 2020 Amounts Include $3 and $2.5, Respectively, Related to Transition Funding and Restoration Funding) | Accrued Interest (September 30, 2021 and December 31, 2020 Amounts Include $3 and $2.5, Respectively, Related to Transition Funding and Restoration Funding) | 60.7 | 43.9 | |||||||||||||||||||||||||
Obligations Under Operating Leases | Obligations Under Operating Leases | 14.5 | 14.5 | Obligations Under Operating Leases | 14.1 | 14.5 | ||||||||||||||||||||||
Other Current Liabilities | Other Current Liabilities | 83.4 | 108.6 | Other Current Liabilities | 98.4 | 108.6 | ||||||||||||||||||||||
TOTAL CURRENT LIABILITIES | TOTAL CURRENT LIABILITIES | 855.8 | 676.8 | TOTAL CURRENT LIABILITIES | 826.7 | 676.8 | ||||||||||||||||||||||
NONCURRENT LIABILITIES | NONCURRENT LIABILITIES | NONCURRENT LIABILITIES | ||||||||||||||||||||||||||
Long-term Debt – Nonaffiliated (March 31, 2021 and December 31, 2020 Amounts Include $392.7 and $403.9, Respectively, Related to Transition Funding and Restoration Funding) | 4,721.3 | 4,731.7 | ||||||||||||||||||||||||||
Long-term Debt – Nonaffiliated (September 30, 2021 and December 31, 2020 Amounts Include $350.9 and $403.9, Respectively, Related to Transition Funding and Restoration Funding) | Long-term Debt – Nonaffiliated (September 30, 2021 and December 31, 2020 Amounts Include $350.9 and $403.9, Respectively, Related to Transition Funding and Restoration Funding) | 4,901.0 | 4,731.7 | |||||||||||||||||||||||||
Deferred Income Taxes | Deferred Income Taxes | 1,024.3 | 1,016.7 | Deferred Income Taxes | 1,087.1 | 1,016.7 | ||||||||||||||||||||||
Regulatory Liabilities and Deferred Investment Tax Credits | Regulatory Liabilities and Deferred Investment Tax Credits | 1,272.0 | 1,270.8 | Regulatory Liabilities and Deferred Investment Tax Credits | 1,256.8 | 1,270.8 | ||||||||||||||||||||||
Obligations Under Operating Leases | Obligations Under Operating Leases | 68.9 | 71.0 | Obligations Under Operating Leases | 64.5 | 71.0 | ||||||||||||||||||||||
Deferred Credits and Other Noncurrent Liabilities | Deferred Credits and Other Noncurrent Liabilities | 68.3 | 57.2 | Deferred Credits and Other Noncurrent Liabilities | 63.1 | 57.2 | ||||||||||||||||||||||
TOTAL NONCURRENT LIABILITIES | TOTAL NONCURRENT LIABILITIES | 7,154.8 | 7,147.4 | TOTAL NONCURRENT LIABILITIES | 7,372.5 | 7,147.4 | ||||||||||||||||||||||
TOTAL LIABILITIES | TOTAL LIABILITIES | 8,010.6 | 7,824.2 | TOTAL LIABILITIES | 8,199.2 | 7,824.2 | ||||||||||||||||||||||
Rate Matters (Note 4) | Rate Matters (Note 4) | 0 | 0 | Rate Matters (Note 4) | 0 | 0 | ||||||||||||||||||||||
Commitments and Contingencies (Note 5) | Commitments and Contingencies (Note 5) | 0 | 0 | Commitments and Contingencies (Note 5) | 0 | 0 | ||||||||||||||||||||||
COMMON SHAREHOLDER’S EQUITY | COMMON SHAREHOLDER’S EQUITY | COMMON SHAREHOLDER’S EQUITY | ||||||||||||||||||||||||||
Paid-in Capital | Paid-in Capital | 1,457.9 | 1,457.9 | Paid-in Capital | 1,457.9 | 1,457.9 | ||||||||||||||||||||||
Retained Earnings | Retained Earnings | 1,803.1 | 1,757.0 | Retained Earnings | 1,982.4 | 1,757.0 | ||||||||||||||||||||||
Accumulated Other Comprehensive Income (Loss) | Accumulated Other Comprehensive Income (Loss) | (8.6) | (8.9) | Accumulated Other Comprehensive Income (Loss) | (8.0) | (8.9) | ||||||||||||||||||||||
TOTAL COMMON SHAREHOLDER’S EQUITY | TOTAL COMMON SHAREHOLDER’S EQUITY | 3,252.4 | 3,206.0 | TOTAL COMMON SHAREHOLDER’S EQUITY | 3,432.3 | 3,206.0 | ||||||||||||||||||||||
TOTAL LIABILITIES AND COMMON SHAREHOLDER’S EQUITY | TOTAL LIABILITIES AND COMMON SHAREHOLDER’S EQUITY | $ | 11,263.0 | $ | 11,030.2 | TOTAL LIABILITIES AND COMMON SHAREHOLDER’S EQUITY | $ | 11,631.5 | $ | 11,030.2 | ||||||||||||||||||
Three Months Ended March 31, | Nine Months Ended September 30, | |||||||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | |||||||||||||||||||||||||
OPERATING ACTIVITIES | OPERATING ACTIVITIES | OPERATING ACTIVITIES | ||||||||||||||||||||||||||
Net Income | Net Income | $ | 46.1 | $ | 47.6 | Net Income | $ | 225.4 | $ | 197.1 | ||||||||||||||||||
Adjustments to Reconcile Net Income to Net Cash Flows from Operating Activities: | Adjustments to Reconcile Net Income to Net Cash Flows from Operating Activities: | Adjustments to Reconcile Net Income to Net Cash Flows from Operating Activities: | ||||||||||||||||||||||||||
Depreciation and Amortization | Depreciation and Amortization | 97.5 | 162.5 | Depreciation and Amortization | 287.1 | 435.8 | ||||||||||||||||||||||
Deferred Income Taxes | Deferred Income Taxes | 1.7 | (7.6) | Deferred Income Taxes | 45.8 | (11.5) | ||||||||||||||||||||||
Allowance for Equity Funds Used During Construction | Allowance for Equity Funds Used During Construction | (4.1) | (5.1) | Allowance for Equity Funds Used During Construction | (16.7) | (14.4) | ||||||||||||||||||||||
Mark-to-Market of Risk Management Contracts | Mark-to-Market of Risk Management Contracts | — | 0.1 | |||||||||||||||||||||||||
Pension Contributions to Qualified Plan Trust | Pension Contributions to Qualified Plan Trust | — | (11.3) | |||||||||||||||||||||||||
Property Taxes | (71.1) | (69.3) | ||||||||||||||||||||||||||
Change in Other Noncurrent Assets | Change in Other Noncurrent Assets | (14.8) | (10.8) | Change in Other Noncurrent Assets | (73.4) | (77.3) | ||||||||||||||||||||||
Change in Other Noncurrent Liabilities | Change in Other Noncurrent Liabilities | 14.7 | 3.2 | Change in Other Noncurrent Liabilities | 17.5 | (30.0) | ||||||||||||||||||||||
Changes in Certain Components of Working Capital: | Changes in Certain Components of Working Capital: | Changes in Certain Components of Working Capital: | ||||||||||||||||||||||||||
Accounts Receivable, Net | Accounts Receivable, Net | (6.8) | (34.3) | Accounts Receivable, Net | (40.2) | (40.2) | ||||||||||||||||||||||
Fuel, Materials and Supplies | Fuel, Materials and Supplies | 0.3 | (7.6) | Fuel, Materials and Supplies | (2.5) | (9.4) | ||||||||||||||||||||||
Accounts Payable | Accounts Payable | 1.4 | 2.4 | Accounts Payable | (10.9) | 24.2 | ||||||||||||||||||||||
Accrued Taxes, Net | Accrued Taxes, Net | 34.1 | 38.9 | Accrued Taxes, Net | 29.5 | 73.4 | ||||||||||||||||||||||
Other Current Assets | Other Current Assets | 0.3 | (1.4) | Other Current Assets | (2.0) | (0.8) | ||||||||||||||||||||||
Other Current Liabilities | Other Current Liabilities | (15.2) | (4.6) | Other Current Liabilities | (5.0) | (49.8) | ||||||||||||||||||||||
Net Cash Flows from Operating Activities | Net Cash Flows from Operating Activities | 84.1 | 113.9 | Net Cash Flows from Operating Activities | 454.6 | 485.9 | ||||||||||||||||||||||
INVESTING ACTIVITIES | INVESTING ACTIVITIES | INVESTING ACTIVITIES | ||||||||||||||||||||||||||
Construction Expenditures | Construction Expenditures | (295.1) | (327.5) | Construction Expenditures | (742.4) | (976.1) | ||||||||||||||||||||||
Change in Advances to Affiliates, Net | Change in Advances to Affiliates, Net | 0.3 | 200.1 | Change in Advances to Affiliates, Net | (47.5) | 58.8 | ||||||||||||||||||||||
Other Investing Activities | Other Investing Activities | 17.0 | 7.4 | Other Investing Activities | 29.6 | 24.1 | ||||||||||||||||||||||
Net Cash Flows Used for Investing Activities | Net Cash Flows Used for Investing Activities | (277.8) | (120.0) | Net Cash Flows Used for Investing Activities | (760.3) | (893.2) | ||||||||||||||||||||||
FINANCING ACTIVITIES | FINANCING ACTIVITIES | FINANCING ACTIVITIES | ||||||||||||||||||||||||||
Issuance of Long-term Debt – Nonaffiliated | Issuance of Long-term Debt – Nonaffiliated | 444.2 | 652.8 | |||||||||||||||||||||||||
Change in Short-term Debt, Net – Nonaffiliated | Change in Short-term Debt, Net – Nonaffiliated | — | 2.0 | |||||||||||||||||||||||||
Change in Advances from Affiliates, Net | Change in Advances from Affiliates, Net | 216.9 | 63.9 | Change in Advances from Affiliates, Net | (67.1) | — | ||||||||||||||||||||||
Retirement of Long-term Debt – Nonaffiliated | Retirement of Long-term Debt – Nonaffiliated | (11.2) | (114.3) | Retirement of Long-term Debt – Nonaffiliated | (52.2) | (356.5) | ||||||||||||||||||||||
Principal Payments for Finance Lease Obligations | Principal Payments for Finance Lease Obligations | (1.7) | (1.5) | Principal Payments for Finance Lease Obligations | (5.0) | (4.7) | ||||||||||||||||||||||
Other Financing Activities | Other Financing Activities | 0.3 | 0.4 | Other Financing Activities | 1.0 | 0.8 | ||||||||||||||||||||||
Net Cash Flows from (Used for) Financing Activities | 204.3 | (51.5) | ||||||||||||||||||||||||||
Net Cash Flows from Financing Activities | Net Cash Flows from Financing Activities | 320.9 | 294.4 | |||||||||||||||||||||||||
Net Increase (Decrease) in Cash, Cash Equivalents and Restricted Cash for Securitized Transition Funding | 10.6 | (57.6) | ||||||||||||||||||||||||||
Net Increase (Decrease) in Cash, Cash Equivalents and Restricted Cash | Net Increase (Decrease) in Cash, Cash Equivalents and Restricted Cash | 15.2 | (112.9) | |||||||||||||||||||||||||
Cash, Cash Equivalents and Restricted Cash at Beginning of Period | Cash, Cash Equivalents and Restricted Cash at Beginning of Period | 28.8 | 157.8 | Cash, Cash Equivalents and Restricted Cash at Beginning of Period | 28.8 | 157.8 | ||||||||||||||||||||||
Cash, Cash Equivalents and Restricted Cash at End of Period | Cash, Cash Equivalents and Restricted Cash at End of Period | $ | 39.4 | $ | 100.2 | Cash, Cash Equivalents and Restricted Cash at End of Period | $ | 44.0 | $ | 44.9 | ||||||||||||||||||
SUPPLEMENTARY INFORMATION | SUPPLEMENTARY INFORMATION | SUPPLEMENTARY INFORMATION | ||||||||||||||||||||||||||
Cash Paid for Interest, Net of Capitalized Amounts | Cash Paid for Interest, Net of Capitalized Amounts | $ | 30.0 | $ | 21.1 | Cash Paid for Interest, Net of Capitalized Amounts | $ | 110.0 | $ | 102.0 | ||||||||||||||||||
Net Cash Paid (Received) for Income Taxes | Net Cash Paid (Received) for Income Taxes | (8.4) | (55.6) | |||||||||||||||||||||||||
Noncash Acquisitions Under Finance Leases | Noncash Acquisitions Under Finance Leases | 3.3 | 5.1 | |||||||||||||||||||||||||
Construction Expenditures Included in Current Liabilities as of September 30, | Construction Expenditures Included in Current Liabilities as of September 30, | 134.9 | 167.6 | |||||||||||||||||||||||||
Noncash Acquisitions Under Finance Leases | 0.8 | 3.7 | ||||||||||||||||||||||||||
Construction Expenditures Included in Current Liabilities as of March 31, | 120.5 | 175.1 | ||||||||||||||||||||||||||
As of March 31, | As of September 30, | |||||||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | |||||||||||||||||||||||||
(in millions) | (in millions) | |||||||||||||||||||||||||||
Plant In Service | Plant In Service | $ | 10,144.5 | $ | 8,684.9 | Plant In Service | $ | 10,851.9 | $ | 9,240.4 | ||||||||||||||||||
Construction Work in Progress | Construction Work in Progress | 1,549.5 | 1,536.3 | Construction Work in Progress | 1,507.4 | 1,680.9 | ||||||||||||||||||||||
Accumulated Depreciation and Amortization | Accumulated Depreciation and Amortization | 623.6 | 445.8 | Accumulated Depreciation and Amortization | 730.4 | 531.8 | ||||||||||||||||||||||
Total Transmission Property, Net | Total Transmission Property, Net | $ | 11,070.4 | $ | 9,775.4 | Total Transmission Property, Net | $ | 11,628.9 | $ | 10,389.5 |
AEP Transmission Company, LLC and Subsidiaries | ||||||||||
Reconciliation of | ||||||||||
Net Income | ||||||||||
(in millions) | ||||||||||
$ | ||||||||||
Changes in Transmission Revenues: | ||||||||||
Transmission Revenues | ||||||||||
Total Change in Transmission Revenues | ||||||||||
Changes in Expenses and Other: | ||||||||||
Other Operation and Maintenance | ||||||||||
Depreciation and Amortization | ||||||||||
Taxes Other Than Income Taxes | ||||||||||
Allowance for Equity Funds Used During Construction | ||||||||||
Interest Expense | ||||||||||
Total Change in Expenses and Other | ||||||||||
Income Tax Expense | ||||||||||
$ |
AEP Transmission Company, LLC and Subsidiaries | ||||||||
Reconciliation of Nine Months Ended September 30, 2020 to Nine Months Ended September 30, 2021 | ||||||||
Net Income | ||||||||
(in millions) | ||||||||
Nine Months Ended September 30, 2020 | $ | 309.1 | ||||||
Changes in Transmission Revenues: | ||||||||
Transmission Revenues | 266.4 | |||||||
Total Change in Transmission Revenues | 266.4 | |||||||
Changes in Expenses and Other: | ||||||||
Other Operation and Maintenance | (11.6) | |||||||
Depreciation and Amortization | (42.6) | |||||||
Taxes Other Than Income Taxes | (26.1) | |||||||
Interest Income | (1.9) | |||||||
Allowance for Equity Funds Used During Construction | (5.6) | |||||||
Interest Expense | (9.4) | |||||||
Total Change in Expenses and Other | (97.2) | |||||||
Income Tax Expense | (32.6) | |||||||
Nine Months Ended September 30, 2021 | $ | 445.7 |
Three Months Ended | Nine Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||
Three Months Ended March 31, | September 30, | September 30, | ||||||||||||||||||||||||||||||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | 2021 | 2020 | |||||||||||||||||||||||||||||||||||||||||||||||
REVENUES | REVENUES | REVENUES | ||||||||||||||||||||||||||||||||||||||||||||||||||
Transmission Revenues | Transmission Revenues | $ | 76.0 | $ | 61.3 | Transmission Revenues | $ | 79.2 | $ | 62.9 | $ | 239.3 | $ | 184.6 | ||||||||||||||||||||||||||||||||||||||
Sales to AEP Affiliates | Sales to AEP Affiliates | 285.6 | 233.7 | Sales to AEP Affiliates | 297.6 | 241.2 | 864.6 | 652.6 | ||||||||||||||||||||||||||||||||||||||||||||
Other Revenues | Other Revenues | 0.1 | 0.6 | Other Revenues | 0.2 | — | 0.3 | 0.6 | ||||||||||||||||||||||||||||||||||||||||||||
TOTAL REVENUES | TOTAL REVENUES | 361.7 | 295.6 | TOTAL REVENUES | 377.0 | 304.1 | 1,104.2 | 837.8 | ||||||||||||||||||||||||||||||||||||||||||||
EXPENSES | EXPENSES | EXPENSES | ||||||||||||||||||||||||||||||||||||||||||||||||||
Other Operation | Other Operation | 21.1 | 23.8 | Other Operation | 32.6 | 25.3 | 78.1 | 72.0 | ||||||||||||||||||||||||||||||||||||||||||||
Maintenance | Maintenance | 3.6 | 3.2 | Maintenance | 5.4 | 3.5 | 12.3 | 6.8 | ||||||||||||||||||||||||||||||||||||||||||||
Depreciation and Amortization | Depreciation and Amortization | 70.6 | 56.0 | Depreciation and Amortization | 76.0 | 61.5 | 219.0 | 176.4 | ||||||||||||||||||||||||||||||||||||||||||||
Taxes Other Than Income Taxes | Taxes Other Than Income Taxes | 57.8 | 50.4 | Taxes Other Than Income Taxes | 61.0 | 52.2 | 178.9 | 152.8 | ||||||||||||||||||||||||||||||||||||||||||||
TOTAL EXPENSES | TOTAL EXPENSES | 153.1 | 133.4 | TOTAL EXPENSES | 175.0 | 142.5 | 488.3 | 408.0 | ||||||||||||||||||||||||||||||||||||||||||||
OPERATING INCOME | OPERATING INCOME | 208.6 | 162.2 | OPERATING INCOME | 202.0 | 161.6 | 615.9 | 429.8 | ||||||||||||||||||||||||||||||||||||||||||||
Other Income (Expense): | Other Income (Expense): | Other Income (Expense): | ||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Income - Affiliated | Interest Income - Affiliated | 0.1 | 0.8 | Interest Income - Affiliated | 0.2 | 0.2 | 0.4 | 2.3 | ||||||||||||||||||||||||||||||||||||||||||||
Allowance for Equity Funds Used During Construction | Allowance for Equity Funds Used During Construction | 16.7 | 16.2 | Allowance for Equity Funds Used During Construction | 16.0 | 20.2 | 49.3 | 54.9 | ||||||||||||||||||||||||||||||||||||||||||||
Interest Expense | Interest Expense | (34.1) | (29.6) | Interest Expense | (36.1) | (32.7) | (104.5) | (95.1) | ||||||||||||||||||||||||||||||||||||||||||||
INCOME BEFORE INCOME TAX EXPENSE | INCOME BEFORE INCOME TAX EXPENSE | 191.3 | 149.6 | INCOME BEFORE INCOME TAX EXPENSE | 182.1 | 149.3 | 561.1 | 391.9 | ||||||||||||||||||||||||||||||||||||||||||||
Income Tax Expense | Income Tax Expense | 39.6 | 31.8 | Income Tax Expense | 36.7 | 31.7 | 115.4 | 82.8 | ||||||||||||||||||||||||||||||||||||||||||||
NET INCOME | NET INCOME | $ | 151.7 | $ | 117.8 | NET INCOME | $ | 145.4 | $ | 117.6 | $ | 445.7 | $ | 309.1 | ||||||||||||||||||||||||||||||||||||||
AEPTCo is wholly-owned by AEP Transmission Holdco. | AEPTCo is wholly-owned by AEP Transmission Holdco. | |||||||||||||||||||||||||||||||||||||||||||||||||||
Paid-in Capital | Retained Earnings | Total | Paid-in Capital | Retained Earnings | Total | |||||||||||||||||||||||||||||||||||
TOTAL MEMBER'S EQUITY – DECEMBER 31, 2019 | TOTAL MEMBER'S EQUITY – DECEMBER 31, 2019 | $ | 2,480.6 | $ | 1,528.9 | $ | 4,009.5 | TOTAL MEMBER'S EQUITY – DECEMBER 31, 2019 | $ | 2,480.6 | $ | 1,528.9 | $ | 4,009.5 | ||||||||||||||||||||||||||
Capital Contribution from Member | Capital Contribution from Member | 185.0 | 185.0 | Capital Contribution from Member | 185.0 | 185.0 | ||||||||||||||||||||||||||||||||||
Net Income | Net Income | 117.8 | 117.8 | Net Income | 117.8 | 117.8 | ||||||||||||||||||||||||||||||||||
TOTAL MEMBER'S EQUITY – MARCH 31, 2020 | TOTAL MEMBER'S EQUITY – MARCH 31, 2020 | $ | 2,665.6 | $ | 1,646.7 | $ | 4,312.3 | TOTAL MEMBER'S EQUITY – MARCH 31, 2020 | 2,665.6 | 1,646.7 | 4,312.3 | |||||||||||||||||||||||||||||
Dividends Paid to Member | Dividends Paid to Member | (5.0) | (5.0) | |||||||||||||||||||||||||||||||||||||
Net Income | Net Income | 73.7 | 73.7 | |||||||||||||||||||||||||||||||||||||
TOTAL MEMBER'S EQUITY – JUNE 30, 2020 | TOTAL MEMBER'S EQUITY – JUNE 30, 2020 | 2,665.6 | 1,715.4 | 4,381.0 | ||||||||||||||||||||||||||||||||||||
Net Income | Net Income | 117.6 | 117.6 | |||||||||||||||||||||||||||||||||||||
TOTAL MEMBER'S EQUITY – SEPTEMBER 30, 2020 | TOTAL MEMBER'S EQUITY – SEPTEMBER 30, 2020 | $ | 2,665.6 | $ | 1,833.0 | $ | 4,498.6 | |||||||||||||||||||||||||||||||||
TOTAL MEMBER'S EQUITY – DECEMBER 31, 2020 | TOTAL MEMBER'S EQUITY – DECEMBER 31, 2020 | $ | 2,765.6 | $ | 1,947.3 | $ | 4,712.9 | TOTAL MEMBER'S EQUITY – DECEMBER 31, 2020 | $ | 2,765.6 | $ | 1,947.3 | $ | 4,712.9 | ||||||||||||||||||||||||||
Capital Contribution from Member | Capital Contribution from Member | 124.0 | 124.0 | Capital Contribution from Member | 124.0 | 124.0 | ||||||||||||||||||||||||||||||||||
Net Income | Net Income | 151.7 | 151.7 | Net Income | 151.7 | 151.7 | ||||||||||||||||||||||||||||||||||
TOTAL MEMBER'S EQUITY – MARCH 31, 2021 | TOTAL MEMBER'S EQUITY – MARCH 31, 2021 | $ | 2,889.6 | $ | 2,099.0 | $ | 4,988.6 | TOTAL MEMBER'S EQUITY – MARCH 31, 2021 | 2,889.6 | 2,099.0 | 4,988.6 | |||||||||||||||||||||||||||||
Capital Contribution from Member | Capital Contribution from Member | 60.0 | 60.0 | |||||||||||||||||||||||||||||||||||||
Net Income | Net Income | 148.6 | 148.6 | |||||||||||||||||||||||||||||||||||||
TOTAL MEMBER'S EQUITY – JUNE 30, 2021 | TOTAL MEMBER'S EQUITY – JUNE 30, 2021 | 2,949.6 | 2,247.6 | 5,197.2 | ||||||||||||||||||||||||||||||||||||
Dividends Paid to Member | Dividends Paid to Member | (112.5) | (112.5) | |||||||||||||||||||||||||||||||||||||
Net Income | Net Income | 145.4 | 145.4 | |||||||||||||||||||||||||||||||||||||
TOTAL MEMBER'S EQUITY – SEPTEMBER 30, 2021 | TOTAL MEMBER'S EQUITY – SEPTEMBER 30, 2021 | $ | 2,949.6 | $ | 2,280.5 | $ | 5,230.1 | |||||||||||||||||||||||||||||||||
March 31, | December 31, | September 30, | December 31, | |||||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | |||||||||||||||||||||||||
CURRENT ASSETS | CURRENT ASSETS | CURRENT ASSETS | ||||||||||||||||||||||||||
Advances to Affiliates | Advances to Affiliates | $ | 106.1 | $ | 109.1 | Advances to Affiliates | $ | 79.2 | $ | 109.1 | ||||||||||||||||||
Accounts Receivable: | Accounts Receivable: | Accounts Receivable: | ||||||||||||||||||||||||||
Customers | Customers | 25.6 | 22.9 | Customers | 31.0 | 22.9 | ||||||||||||||||||||||
Affiliated Companies | Affiliated Companies | 95.0 | 81.2 | Affiliated Companies | 96.7 | 81.2 | ||||||||||||||||||||||
Total Accounts Receivable | Total Accounts Receivable | 120.6 | 104.1 | Total Accounts Receivable | 127.7 | 104.1 | ||||||||||||||||||||||
Materials and Supplies | Materials and Supplies | 8.8 | 8.5 | Materials and Supplies | 9.0 | 8.5 | ||||||||||||||||||||||
Prepayments and Other Current Assets | Prepayments and Other Current Assets | 3.4 | 14.1 | Prepayments and Other Current Assets | 3.5 | 14.1 | ||||||||||||||||||||||
TOTAL CURRENT ASSETS | TOTAL CURRENT ASSETS | 238.9 | 235.8 | TOTAL CURRENT ASSETS | 219.4 | 235.8 | ||||||||||||||||||||||
TRANSMISSION PROPERTY | TRANSMISSION PROPERTY | TRANSMISSION PROPERTY | ||||||||||||||||||||||||||
Transmission Property | Transmission Property | 9,788.3 | 9,593.5 | Transmission Property | 10,458.4 | 9,593.5 | ||||||||||||||||||||||
Other Property, Plant and Equipment | Other Property, Plant and Equipment | 356.2 | 329.5 | Other Property, Plant and Equipment | 393.5 | 329.5 | ||||||||||||||||||||||
Construction Work in Progress | Construction Work in Progress | 1,549.5 | 1,422.6 | Construction Work in Progress | 1,507.4 | 1,422.6 | ||||||||||||||||||||||
Total Transmission Property | Total Transmission Property | 11,694.0 | 11,345.6 | Total Transmission Property | 12,359.3 | 11,345.6 | ||||||||||||||||||||||
Accumulated Depreciation and Amortization | Accumulated Depreciation and Amortization | 623.6 | 572.8 | Accumulated Depreciation and Amortization | 730.4 | 572.8 | ||||||||||||||||||||||
TOTAL TRANSMISSION PROPERTY – NET | TOTAL TRANSMISSION PROPERTY – NET | 11,070.4 | 10,772.8 | TOTAL TRANSMISSION PROPERTY – NET | 11,628.9 | 10,772.8 | ||||||||||||||||||||||
OTHER NONCURRENT ASSETS | OTHER NONCURRENT ASSETS | OTHER NONCURRENT ASSETS | ||||||||||||||||||||||||||
Regulatory Assets | Regulatory Assets | 14.0 | 15.1 | Regulatory Assets | 10.1 | 15.1 | ||||||||||||||||||||||
Deferred Property Taxes | Deferred Property Taxes | 190.1 | 220.1 | Deferred Property Taxes | 66.1 | 220.1 | ||||||||||||||||||||||
Deferred Charges and Other Noncurrent Assets | Deferred Charges and Other Noncurrent Assets | 1.7 | 2.2 | Deferred Charges and Other Noncurrent Assets | 6.6 | 2.2 | ||||||||||||||||||||||
TOTAL OTHER NONCURRENT ASSETS | TOTAL OTHER NONCURRENT ASSETS | 205.8 | 237.4 | TOTAL OTHER NONCURRENT ASSETS | 82.8 | 237.4 | ||||||||||||||||||||||
TOTAL ASSETS | TOTAL ASSETS | $ | 11,515.1 | $ | 11,246.0 | TOTAL ASSETS | $ | 11,931.1 | $ | 11,246.0 | ||||||||||||||||||
March 31, | December 31, | September 30, | December 31, | |||||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | |||||||||||||||||||||||||
CURRENT LIABILITIES | CURRENT LIABILITIES | CURRENT LIABILITIES | ||||||||||||||||||||||||||
Advances from Affiliates | Advances from Affiliates | $ | 229.3 | $ | 156.7 | Advances from Affiliates | $ | 13.9 | $ | 156.7 | ||||||||||||||||||
Accounts Payable: | Accounts Payable: | Accounts Payable: | ||||||||||||||||||||||||||
General | General | 325.3 | 380.4 | General | 298.8 | 380.4 | ||||||||||||||||||||||
Affiliated Companies | Affiliated Companies | 72.2 | 97.3 | Affiliated Companies | 67.6 | 97.3 | ||||||||||||||||||||||
Long-term Debt Due Within One Year – Nonaffiliated | Long-term Debt Due Within One Year – Nonaffiliated | 50.0 | 50.0 | Long-term Debt Due Within One Year – Nonaffiliated | 50.0 | 50.0 | ||||||||||||||||||||||
Accrued Taxes | Accrued Taxes | 373.2 | 418.1 | Accrued Taxes | 269.5 | 418.1 | ||||||||||||||||||||||
Accrued Interest | Accrued Interest | 48.2 | 23.9 | Accrued Interest | 50.2 | 23.9 | ||||||||||||||||||||||
Obligations Under Operating Leases | Obligations Under Operating Leases | 0.8 | 1.2 | Obligations Under Operating Leases | 0.9 | 1.2 | ||||||||||||||||||||||
Other Current Liabilities | Other Current Liabilities | 12.3 | 9.9 | Other Current Liabilities | 8.1 | 9.9 | ||||||||||||||||||||||
TOTAL CURRENT LIABILITIES | TOTAL CURRENT LIABILITIES | 1,111.3 | 1,137.5 | TOTAL CURRENT LIABILITIES | 759.0 | 1,137.5 | ||||||||||||||||||||||
NONCURRENT LIABILITIES | NONCURRENT LIABILITIES | NONCURRENT LIABILITIES | ||||||||||||||||||||||||||
Long-term Debt – Nonaffiliated | Long-term Debt – Nonaffiliated | 3,899.0 | 3,898.5 | Long-term Debt – Nonaffiliated | 4,343.4 | 3,898.5 | ||||||||||||||||||||||
Deferred Income Taxes | Deferred Income Taxes | 917.2 | 906.9 | Deferred Income Taxes | 955.2 | 906.9 | ||||||||||||||||||||||
Regulatory Liabilities | Regulatory Liabilities | 597.1 | 581.8 | Regulatory Liabilities | 633.9 | 581.8 | ||||||||||||||||||||||
Obligations Under Operating Leases | Obligations Under Operating Leases | 0.4 | 0.4 | Obligations Under Operating Leases | 1.0 | 0.4 | ||||||||||||||||||||||
Deferred Credits and Other Noncurrent Liabilities | Deferred Credits and Other Noncurrent Liabilities | 1.5 | 8.0 | Deferred Credits and Other Noncurrent Liabilities | 8.5 | 8.0 | ||||||||||||||||||||||
TOTAL NONCURRENT LIABILITIES | TOTAL NONCURRENT LIABILITIES | 5,415.2 | 5,395.6 | TOTAL NONCURRENT LIABILITIES | 5,942.0 | 5,395.6 | ||||||||||||||||||||||
TOTAL LIABILITIES | TOTAL LIABILITIES | 6,526.5 | 6,533.1 | TOTAL LIABILITIES | 6,701.0 | 6,533.1 | ||||||||||||||||||||||
Rate Matters (Note 4) | Rate Matters (Note 4) | 0 | 0 | Rate Matters (Note 4) | 0 | 0 | ||||||||||||||||||||||
Commitments and Contingencies (Note 5) | Commitments and Contingencies (Note 5) | 0 | 0 | Commitments and Contingencies (Note 5) | 0 | 0 | ||||||||||||||||||||||
MEMBER’S EQUITY | MEMBER’S EQUITY | MEMBER’S EQUITY | ||||||||||||||||||||||||||
Paid-in Capital | Paid-in Capital | 2,889.6 | 2,765.6 | Paid-in Capital | 2,949.6 | 2,765.6 | ||||||||||||||||||||||
Retained Earnings | Retained Earnings | 2,099.0 | 1,947.3 | Retained Earnings | 2,280.5 | 1,947.3 | ||||||||||||||||||||||
TOTAL MEMBER’S EQUITY | TOTAL MEMBER’S EQUITY | 4,988.6 | 4,712.9 | TOTAL MEMBER’S EQUITY | 5,230.1 | 4,712.9 | ||||||||||||||||||||||
TOTAL LIABILITIES AND MEMBER’S EQUITY | TOTAL LIABILITIES AND MEMBER’S EQUITY | $ | 11,515.1 | $ | 11,246.0 | TOTAL LIABILITIES AND MEMBER’S EQUITY | $ | 11,931.1 | $ | 11,246.0 | ||||||||||||||||||
Three Months Ended March 31, | Nine Months Ended September 30, | |||||||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | |||||||||||||||||||||||||
OPERATING ACTIVITIES | OPERATING ACTIVITIES | OPERATING ACTIVITIES | ||||||||||||||||||||||||||
Net Income | Net Income | $ | 151.7 | $ | 117.8 | Net Income | $ | 445.7 | $ | 309.1 | ||||||||||||||||||
Adjustments to Reconcile Net Income to Net Cash Flows from Operating Activities: | Adjustments to Reconcile Net Income to Net Cash Flows from Operating Activities: | Adjustments to Reconcile Net Income to Net Cash Flows from Operating Activities: | ||||||||||||||||||||||||||
Depreciation and Amortization | Depreciation and Amortization | 70.6 | 56.0 | Depreciation and Amortization | 219.0 | 176.4 | ||||||||||||||||||||||
Deferred Income Taxes | Deferred Income Taxes | 8.3 | 13.7 | Deferred Income Taxes | 46.8 | 65.4 | ||||||||||||||||||||||
Allowance for Equity Funds Used During Construction | Allowance for Equity Funds Used During Construction | (16.7) | (16.2) | Allowance for Equity Funds Used During Construction | (49.3) | (54.9) | ||||||||||||||||||||||
Property Taxes | Property Taxes | 30.0 | 28.4 | Property Taxes | 154.0 | 136.3 | ||||||||||||||||||||||
Change in Other Noncurrent Assets | Change in Other Noncurrent Assets | 1.4 | 2.4 | Change in Other Noncurrent Assets | 2.3 | (1.5) | ||||||||||||||||||||||
Change in Other Noncurrent Liabilities | Change in Other Noncurrent Liabilities | 0.6 | 0.6 | Change in Other Noncurrent Liabilities | 8.3 | 19.5 | ||||||||||||||||||||||
Changes in Certain Components of Working Capital: | Changes in Certain Components of Working Capital: | Changes in Certain Components of Working Capital: | ||||||||||||||||||||||||||
Accounts Receivable, Net | Accounts Receivable, Net | (16.5) | (22.0) | Accounts Receivable, Net | (23.6) | (30.1) | ||||||||||||||||||||||
Materials and Supplies | Materials and Supplies | (0.3) | 0.4 | Materials and Supplies | (0.5) | 0.2 | ||||||||||||||||||||||
Accounts Payable | Accounts Payable | (18.9) | 22.7 | Accounts Payable | (10.7) | 26.0 | ||||||||||||||||||||||
Accrued Taxes, Net | Accrued Taxes, Net | (35.1) | (37.8) | Accrued Taxes, Net | (138.8) | (139.0) | ||||||||||||||||||||||
Accrued Interest | Accrued Interest | 24.3 | 19.4 | Accrued Interest | 26.3 | 29.0 | ||||||||||||||||||||||
Other Current Assets | Other Current Assets | 0.9 | 0.4 | Other Current Assets | 0.5 | 9.1 | ||||||||||||||||||||||
Other Current Liabilities | Other Current Liabilities | 1.4 | 1.2 | Other Current Liabilities | (3.6) | (10.7) | ||||||||||||||||||||||
Net Cash Flows from Operating Activities | Net Cash Flows from Operating Activities | 201.7 | 187.0 | Net Cash Flows from Operating Activities | 676.4 | 534.8 | ||||||||||||||||||||||
INVESTING ACTIVITIES | INVESTING ACTIVITIES | INVESTING ACTIVITIES | ||||||||||||||||||||||||||
Construction Expenditures | Construction Expenditures | (400.5) | (491.5) | Construction Expenditures | (1,070.8) | (1,163.8) | ||||||||||||||||||||||
Change in Advances to Affiliates, Net | Change in Advances to Affiliates, Net | 3.0 | (43.0) | Change in Advances to Affiliates, Net | 29.9 | (21.3) | ||||||||||||||||||||||
Other Investing Activities | Other Investing Activities | (0.8) | 2.1 | Other Investing Activities | (7.9) | 1.1 | ||||||||||||||||||||||
Net Cash Flows Used for Investing Activities | Net Cash Flows Used for Investing Activities | (398.3) | (532.4) | Net Cash Flows Used for Investing Activities | (1,048.8) | (1,184.0) | ||||||||||||||||||||||
FINANCING ACTIVITIES | FINANCING ACTIVITIES | FINANCING ACTIVITIES | ||||||||||||||||||||||||||
Capital Contributions from Member | Capital Contributions from Member | 124.0 | 185.0 | Capital Contributions from Member | 184.0 | 185.0 | ||||||||||||||||||||||
Issuance of Long-term Debt – Nonaffiliated | Issuance of Long-term Debt – Nonaffiliated | 443.7 | 519.4 | |||||||||||||||||||||||||
Change in Advances from Affiliates, Net | Change in Advances from Affiliates, Net | 72.6 | 160.4 | Change in Advances from Affiliates, Net | (142.8) | (50.2) | ||||||||||||||||||||||
Dividends Paid to Member | Dividends Paid to Member | (112.5) | (5.0) | |||||||||||||||||||||||||
Net Cash Flows from Financing Activities | Net Cash Flows from Financing Activities | 196.6 | 345.4 | Net Cash Flows from Financing Activities | 372.4 | 649.2 | ||||||||||||||||||||||
Net Change in Cash and Cash Equivalents | Net Change in Cash and Cash Equivalents | 0 | 0 | Net Change in Cash and Cash Equivalents | — | — | ||||||||||||||||||||||
Cash and Cash Equivalents at Beginning of Period | Cash and Cash Equivalents at Beginning of Period | 0 | 0 | Cash and Cash Equivalents at Beginning of Period | — | — | ||||||||||||||||||||||
Cash and Cash Equivalents at End of Period | Cash and Cash Equivalents at End of Period | $ | 0 | $ | 0 | Cash and Cash Equivalents at End of Period | $ | — | $ | — | ||||||||||||||||||
SUPPLEMENTARY INFORMATION | SUPPLEMENTARY INFORMATION | SUPPLEMENTARY INFORMATION | ||||||||||||||||||||||||||
Cash Paid for Interest, Net of Capitalized Amounts | Cash Paid for Interest, Net of Capitalized Amounts | $ | 8.9 | $ | 9.3 | Cash Paid for Interest, Net of Capitalized Amounts | $ | 75.8 | $ | 63.3 | ||||||||||||||||||
Net Cash Paid for Income Taxes | Net Cash Paid for Income Taxes | 0 | 0.1 | Net Cash Paid for Income Taxes | 37.6 | 1.9 | ||||||||||||||||||||||
Construction Expenditures Included in Current Liabilities as of March 31, | 244.5 | 290.6 | ||||||||||||||||||||||||||
Construction Expenditures Included in Current Liabilities as of September 30, | Construction Expenditures Included in Current Liabilities as of September 30, | 206.8 | 283.6 | |||||||||||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||||||||||||||||||||||||||||||||
Three Months Ended March 31, | September 30, | September 30, | ||||||||||||||||||||||||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | 2021 | 2020 | |||||||||||||||||||||||||||||||||||||||||
(in millions of KWhs) | (in millions of KWhs) | |||||||||||||||||||||||||||||||||||||||||||||
Retail: | Retail: | Retail: | ||||||||||||||||||||||||||||||||||||||||||||
Residential | Residential | 3,695 | 3,169 | Residential | 2,657 | 2,772 | 8,524 | 8,229 | ||||||||||||||||||||||||||||||||||||||
Commercial | Commercial | 1,457 | 1,477 | Commercial | 1,596 | 1,612 | 4,483 | 4,410 | ||||||||||||||||||||||||||||||||||||||
Industrial | Industrial | 2,078 | 2,237 | Industrial | 2,223 | 2,193 | 6,590 | 6,507 | ||||||||||||||||||||||||||||||||||||||
Miscellaneous | Miscellaneous | 200 | 207 | Miscellaneous | 206 | 203 | 602 | 585 | ||||||||||||||||||||||||||||||||||||||
Total Retail | Total Retail | 7,430 | 7,090 | Total Retail | 6,682 | 6,780 | 20,199 | 19,731 | ||||||||||||||||||||||||||||||||||||||
Wholesale | Wholesale | 948 | 472 | Wholesale | 1,414 | 1,187 | 3,636 | 2,894 | ||||||||||||||||||||||||||||||||||||||
Total KWhs | Total KWhs | 8,378 | 7,562 | Total KWhs | 8,096 | 7,967 | 23,835 | 22,625 |
Three Months Ended | Nine Months Ended | |||||||||||||||||||||||||||||||||||||||||||||
Three Months Ended March 31, | September 30, | September 30, | ||||||||||||||||||||||||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | 2021 | 2020 | |||||||||||||||||||||||||||||||||||||||||
(in degree days) | (in degree days) | |||||||||||||||||||||||||||||||||||||||||||||
Actual – Heating (a) | Actual – Heating (a) | 1,284 | 953 | Actual – Heating (a) | — | 1 | 1,397 | 1,098 | ||||||||||||||||||||||||||||||||||||||
Normal – Heating (b) | Normal – Heating (b) | 1,315 | 1,324 | Normal – Heating (b) | 2 | 2 | 1,404 | 1,413 | ||||||||||||||||||||||||||||||||||||||
Actual – Cooling (c) | Actual – Cooling (c) | 4 | 20 | Actual – Cooling (c) | 945 | 988 | 1,330 | 1,354 | ||||||||||||||||||||||||||||||||||||||
Normal – Cooling (b) | Normal – Cooling (b) | 6 | 6 | Normal – Cooling (b) | 831 | 825 | 1,214 | 1,208 |
Appalachian Power Company and Subsidiaries | ||||||||
Reconciliation of | ||||||||
Net Income | ||||||||
(in millions) | ||||||||
$ | ||||||||
Changes in Gross Margin: | ||||||||
Retail Margins | ||||||||
Margins from Off-system Sales | ||||||||
Transmission Revenues | ||||||||
Other Revenues | ||||||||
Total Change in Gross Margin | ||||||||
Changes in Expenses and Other: | ||||||||
Other Operation and Maintenance | ||||||||
Depreciation and Amortization | ||||||||
Taxes Other Than Income Taxes | ||||||||
Interest Income | (0.4) | |||||||
Allowance for Equity Funds Used During Construction | ||||||||
Interest Expense | ||||||||
Total Change in Expenses and Other | ||||||||
Income Tax Expense | ||||||||
$ |
Appalachian Power Company and Subsidiaries | ||||||||
Reconciliation of Nine Months Ended September 30, 2020 to Nine Months Ended September 30, 2021 | ||||||||
Net Income | ||||||||
(in millions) | ||||||||
Nine Months Ended September 30, 2020 | $ | 313.2 | ||||||
Changes in Gross Margin: | ||||||||
Retail Margins | 103.0 | |||||||
Margins from Off-system Sales | 2.8 | |||||||
Transmission Revenues | 21.9 | |||||||
Other Revenues | (1.2) | |||||||
Total Change in Gross Margin | 126.5 | |||||||
Changes in Expenses and Other: | ||||||||
Other Operation and Maintenance | (98.7) | |||||||
Depreciation and Amortization | (40.6) | |||||||
Taxes Other Than Income Taxes | (2.5) | |||||||
Interest Income | (0.6) | |||||||
Allowance for Equity Funds Used During Construction | 0.6 | |||||||
Non-Service Cost Components of Net Periodic Benefit Cost | 0.1 | |||||||
Interest Expense | 1.6 | |||||||
Total Change in Expenses and Other | (140.1) | |||||||
Income Tax Expense | (24.5) | |||||||
Nine Months Ended September 30, 2021 | $ | 275.1 |
Three Months Ended | Three Months Ended | Nine Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||
Three Months Ended March 31, | September 30, | September 30, | ||||||||||||||||||||||||||||||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | 2021 | 2020 | |||||||||||||||||||||||||||||||||||||||||||||||
REVENUES | REVENUES | REVENUES | ||||||||||||||||||||||||||||||||||||||||||||||||||
Electric Generation, Transmission and Distribution | Electric Generation, Transmission and Distribution | $ | 764.2 | $ | 697.0 | Electric Generation, Transmission and Distribution | $ | 748.5 | $ | 688.9 | $ | 2,149.2 | $ | 1,989.9 | ||||||||||||||||||||||||||||||||||||||
Sales to AEP Affiliates | Sales to AEP Affiliates | 50.1 | 49.7 | Sales to AEP Affiliates | 52.4 | 44.4 | 140.6 | 124.9 | ||||||||||||||||||||||||||||||||||||||||||||
Other Revenues | Other Revenues | 2.7 | 2.7 | Other Revenues | 3.1 | 2.4 | 8.2 | 7.8 | ||||||||||||||||||||||||||||||||||||||||||||
TOTAL REVENUES | TOTAL REVENUES | 817.0 | 749.4 | TOTAL REVENUES | 804.0 | 735.7 | 2,298.0 | 2,122.6 | ||||||||||||||||||||||||||||||||||||||||||||
EXPENSES | EXPENSES | EXPENSES | ||||||||||||||||||||||||||||||||||||||||||||||||||
Fuel and Other Consumables Used for Electric Generation | Fuel and Other Consumables Used for Electric Generation | 163.9 | 111.0 | Fuel and Other Consumables Used for Electric Generation | 170.8 | 166.0 | 471.9 | 430.9 | ||||||||||||||||||||||||||||||||||||||||||||
Purchased Electricity for Resale | Purchased Electricity for Resale | 90.1 | 122.6 | Purchased Electricity for Resale | 82.4 | 67.5 | 248.4 | 240.5 | ||||||||||||||||||||||||||||||||||||||||||||
Other Operation | Other Operation | 150.4 | 134.0 | Other Operation | 173.0 | 136.3 | 442.1 | 379.1 | ||||||||||||||||||||||||||||||||||||||||||||
Maintenance | Maintenance | 65.2 | 50.3 | Maintenance | 69.1 | 52.0 | 184.4 | 148.7 | ||||||||||||||||||||||||||||||||||||||||||||
Depreciation and Amortization | Depreciation and Amortization | 135.8 | 122.2 | Depreciation and Amortization | 135.4 | 123.2 | 406.6 | 366.0 | ||||||||||||||||||||||||||||||||||||||||||||
Taxes Other Than Income Taxes | Taxes Other Than Income Taxes | 37.7 | 37.9 | Taxes Other Than Income Taxes | 39.8 | 38.8 | 116.7 | 114.2 | ||||||||||||||||||||||||||||||||||||||||||||
TOTAL EXPENSES | TOTAL EXPENSES | 643.1 | 578.0 | TOTAL EXPENSES | 670.5 | 583.8 | 1,870.1 | 1,679.4 | ||||||||||||||||||||||||||||||||||||||||||||
OPERATING INCOME | OPERATING INCOME | 173.9 | 171.4 | OPERATING INCOME | 133.5 | 151.9 | 427.9 | 443.2 | ||||||||||||||||||||||||||||||||||||||||||||
Other Income (Expense): | Other Income (Expense): | Other Income (Expense): | ||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Income | Interest Income | 0.3 | 0.3 | Interest Income | 0.2 | 0.6 | 0.8 | 1.4 | ||||||||||||||||||||||||||||||||||||||||||||
Allowance for Equity Funds Used During Construction | Allowance for Equity Funds Used During Construction | 3.5 | 2.4 | Allowance for Equity Funds Used During Construction | 4.3 | 6.7 | 12.1 | 11.5 | ||||||||||||||||||||||||||||||||||||||||||||
Non-Service Cost Components of Net Periodic Benefit Cost | Non-Service Cost Components of Net Periodic Benefit Cost | 4.7 | 4.7 | Non-Service Cost Components of Net Periodic Benefit Cost | 4.7 | 4.7 | 14.2 | 14.1 | ||||||||||||||||||||||||||||||||||||||||||||
Interest Expense | Interest Expense | (54.9) | (53.1) | Interest Expense | (52.8) | (55.0) | (160.6) | (162.2) | ||||||||||||||||||||||||||||||||||||||||||||
INCOME BEFORE INCOME TAX EXPENSE | 127.5 | 125.7 | ||||||||||||||||||||||||||||||||||||||||||||||||||
INCOME BEFORE INCOME TAX EXPENSE (BENEFIT) | INCOME BEFORE INCOME TAX EXPENSE (BENEFIT) | 89.9 | 108.9 | 294.4 | 308.0 | |||||||||||||||||||||||||||||||||||||||||||||||
Income Tax Expense | 5.0 | 10.4 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Income Tax Expense (Benefit) | Income Tax Expense (Benefit) | 3.6 | (7.7) | 19.3 | (5.2) | |||||||||||||||||||||||||||||||||||||||||||||||
NET INCOME | NET INCOME | $ | 122.5 | $ | 115.3 | NET INCOME | $ | 86.3 | $ | 116.6 | $ | 275.1 | $ | 313.2 | ||||||||||||||||||||||||||||||||||||||
The common stock of APCo is wholly-owned by Parent. | The common stock of APCo is wholly-owned by Parent. | The common stock of APCo is wholly-owned by Parent. | ||||||||||||||||||||||||||||||||||||||||||||||||||
Three Months Ended | Three Months Ended | Nine Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||
March 31, | September 30, | September 30, | ||||||||||||||||||||||||||||||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | 2021 | 2020 | |||||||||||||||||||||||||||||||||||||||||||||||
Net Income | Net Income | $ | 122.5 | $ | 115.3 | Net Income | $ | 86.3 | $ | 116.6 | $ | 275.1 | $ | 313.2 | ||||||||||||||||||||||||||||||||||||||
OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAXES | OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAXES | OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAXES | ||||||||||||||||||||||||||||||||||||||||||||||||||
Cash Flow Hedges, Net of Tax of $2.4 and $(1.1) in 2021 and 2020, Respectively | 9.0 | (4.2) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Amortization of Pension and OPEB Deferred Costs, Net of Tax of $(0.3) and $(0.3) in 2021 and 2020, Respectively | (1.1) | (0.9) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Cash Flow Hedges, Net of Tax of $0 and $0.1 for the Three Months Ended September 30, 2021 and 2020, Respectively, and $2.3 and $(1.2) for Nine Months Ended September 30, 2021 and 2020, Respectively | Cash Flow Hedges, Net of Tax of $0 and $0.1 for the Three Months Ended September 30, 2021 and 2020, Respectively, and $2.3 and $(1.2) for Nine Months Ended September 30, 2021 and 2020, Respectively | (0.3) | 0.6 | 8.5 | (4.4) | |||||||||||||||||||||||||||||||||||||||||||||||
Amortization of Pension and OPEB Deferred Costs, Net of Tax of $(0.2) and $(0.3) for the Three Months Ended September 30, 2021 and 2020, Respectively, and $(0.8) and $(0.8) for the Nine Months Ended September 30, 2021 and 2020, Respectively | Amortization of Pension and OPEB Deferred Costs, Net of Tax of $(0.2) and $(0.3) for the Three Months Ended September 30, 2021 and 2020, Respectively, and $(0.8) and $(0.8) for the Nine Months Ended September 30, 2021 and 2020, Respectively | (1.0) | (0.9) | (3.1) | (2.8) | |||||||||||||||||||||||||||||||||||||||||||||||
TOTAL OTHER COMPREHENSIVE INCOME (LOSS) | TOTAL OTHER COMPREHENSIVE INCOME (LOSS) | 7.9 | (5.1) | TOTAL OTHER COMPREHENSIVE INCOME (LOSS) | (1.3) | (0.3) | 5.4 | (7.2) | ||||||||||||||||||||||||||||||||||||||||||||
TOTAL COMPREHENSIVE INCOME | TOTAL COMPREHENSIVE INCOME | $ | 130.4 | $ | 110.2 | TOTAL COMPREHENSIVE INCOME | $ | 85.0 | $ | 116.3 | $ | 280.5 | $ | 306.0 | ||||||||||||||||||||||||||||||||||||||
Common Stock | Paid-in Capital | Retained Earnings | Accumulated Other Comprehensive Income (Loss) | Total | Common Stock | Paid-in Capital | Retained Earnings | Accumulated Other Comprehensive Income (Loss) | Total | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
TOTAL COMMON SHAREHOLDER’S EQUITY - DECEMBER 31, 2019 | TOTAL COMMON SHAREHOLDER’S EQUITY - DECEMBER 31, 2019 | $ | 260.4 | $ | 1,828.7 | $ | 2,078.3 | $ | 5.0 | $ | 4,172.4 | TOTAL COMMON SHAREHOLDER’S EQUITY - DECEMBER 31, 2019 | $ | 260.4 | $ | 1,828.7 | $ | 2,078.3 | $ | 5.0 | $ | 4,172.4 | ||||||||||||||||||||||||||||||||||||||||||
Common Stock Dividends | Common Stock Dividends | (50.0) | (50.0) | Common Stock Dividends | (50.0) | (50.0) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net Income | Net Income | 115.3 | 115.3 | Net Income | 115.3 | 115.3 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Comprehensive Loss | Other Comprehensive Loss | (5.1) | (5.1) | Other Comprehensive Loss | (5.1) | (5.1) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
TOTAL COMMON SHAREHOLDER'S EQUITY -MARCH 31, 2020 | TOTAL COMMON SHAREHOLDER'S EQUITY -MARCH 31, 2020 | 260.4 | 1,828.7 | 2,143.6 | (0.1) | 4,232.6 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common Stock Dividends | Common Stock Dividends | (50.0) | (50.0) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net Income | Net Income | 81.3 | 81.3 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Comprehensive Loss | Other Comprehensive Loss | (1.8) | (1.8) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
TOTAL COMMON SHAREHOLDER'S EQUITY - JUNE 30, 2020 | TOTAL COMMON SHAREHOLDER'S EQUITY - JUNE 30, 2020 | $ | 260.4 | $ | 1,828.7 | $ | 2,174.9 | $ | (1.9) | $ | 4,262.1 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Common Stock Dividends | Common Stock Dividends | (50.0) | (50.0) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net Income | Net Income | 116.6 | 116.6 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Comprehensive Loss | Other Comprehensive Loss | (0.3) | (0.3) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
TOTAL COMMON SHAREHOLDER'S EQUITY - SEPTEMBER 30, 2020 | TOTAL COMMON SHAREHOLDER'S EQUITY - SEPTEMBER 30, 2020 | $ | 260.4 | $ | 1,828.7 | $ | 2,241.5 | $ | (2.2) | $ | 4,328.4 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
TOTAL COMMON SHAREHOLDER’S EQUITY - MARCH 31, 2020 | $ | 260.4 | $ | 1,828.7 | $ | 2,143.6 | $ | (0.1) | $ | 4,232.6 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
TOTAL COMMON SHAREHOLDER’S EQUITY - DECEMBER 31, 2020 | $ | 260.4 | $ | 1,828.7 | $ | 2,248.0 | $ | 7.2 | $ | 4,344.3 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
TOTAL COMMON SHAREHOLDER'S EQUITY - DECEMBER 31, 2020 | TOTAL COMMON SHAREHOLDER'S EQUITY - DECEMBER 31, 2020 | $ | 260.4 | $ | 1,828.7 | $ | 2,248.0 | $ | 7.2 | $ | 4,344.3 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Common Stock Dividends | Common Stock Dividends | (12.5) | (12.5) | Common Stock Dividends | (12.5) | (12.5) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net Income | Net Income | 122.5 | 122.5 | Net Income | 122.5 | 122.5 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Comprehensive Income | Other Comprehensive Income | 7.9 | 7.9 | Other Comprehensive Income | 7.9 | 7.9 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
TOTAL COMMON SHAREHOLDER’S EQUITY - MARCH 31, 2021 | $ | 260.4 | $ | 1,828.7 | $ | 2,358.0 | $ | 15.1 | $ | 4,462.2 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
TOTAL COMMON SHAREHOLDER'S EQUITY - MARCH 31, 2021 | TOTAL COMMON SHAREHOLDER'S EQUITY - MARCH 31, 2021 | 260.4 | 1,828.7 | 2,358.0 | 15.1 | 4,462.2 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common Stock Dividends | Common Stock Dividends | (12.5) | (12.5) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net Income | Net Income | 66.3 | 66.3 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Comprehensive Loss | Other Comprehensive Loss | (1.2) | (1.2) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
TOTAL COMMON SHAREHOLDER'S EQUITY - JUNE 30, 2021 | TOTAL COMMON SHAREHOLDER'S EQUITY - JUNE 30, 2021 | $ | 260.4 | $ | 1,828.7 | $ | 2,411.8 | $ | 13.9 | $ | 4,514.8 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Common Stock Dividends | Common Stock Dividends | (12.5) | (12.5) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net Income | Net Income | 86.3 | 86.3 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Comprehensive Loss | Other Comprehensive Loss | (1.3) | (1.3) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
TOTAL COMMON SHAREHOLDER'S EQUITY - SEPTEMBER 30, 2021 | TOTAL COMMON SHAREHOLDER'S EQUITY - SEPTEMBER 30, 2021 | $ | 260.4 | $ | 1,828.7 | $ | 2,485.6 | $ | 12.6 | $ | 4,587.3 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
March 31, | December 31, | September 30, | December 31, | |||||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | |||||||||||||||||||||||||
CURRENT ASSETS | CURRENT ASSETS | CURRENT ASSETS | ||||||||||||||||||||||||||
Cash and Cash Equivalents | Cash and Cash Equivalents | $ | 4.8 | $ | 5.8 | Cash and Cash Equivalents | $ | 5.0 | $ | 5.8 | ||||||||||||||||||
Restricted Cash for Securitized Funding | Restricted Cash for Securitized Funding | 11.6 | 16.9 | Restricted Cash for Securitized Funding | 10.1 | 16.9 | ||||||||||||||||||||||
Advances to Affiliates | Advances to Affiliates | 261.1 | 21.4 | Advances to Affiliates | 185.2 | 21.4 | ||||||||||||||||||||||
Accounts Receivable: | Accounts Receivable: | Accounts Receivable: | ||||||||||||||||||||||||||
Customers | Customers | 146.4 | 142.8 | Customers | 119.3 | 142.8 | ||||||||||||||||||||||
Affiliated Companies | Affiliated Companies | 64.9 | 64.3 | Affiliated Companies | 77.4 | 64.3 | ||||||||||||||||||||||
Accrued Unbilled Revenues | Accrued Unbilled Revenues | 50.7 | 80.1 | Accrued Unbilled Revenues | 53.6 | 80.1 | ||||||||||||||||||||||
Miscellaneous | Miscellaneous | 0.3 | 0.3 | Miscellaneous | 0.2 | 0.3 | ||||||||||||||||||||||
Allowance for Uncollectible Accounts | Allowance for Uncollectible Accounts | (2.1) | (3.1) | Allowance for Uncollectible Accounts | (1.6) | (3.1) | ||||||||||||||||||||||
Total Accounts Receivable | Total Accounts Receivable | 260.2 | 284.4 | Total Accounts Receivable | 248.9 | 284.4 | ||||||||||||||||||||||
Fuel | Fuel | 166.9 | 193.6 | Fuel | 66.6 | 193.6 | ||||||||||||||||||||||
Materials and Supplies | Materials and Supplies | 101.2 | 99.6 | Materials and Supplies | 100.3 | 99.6 | ||||||||||||||||||||||
Risk Management Assets | Risk Management Assets | 6.9 | 22.4 | Risk Management Assets | 47.0 | 22.4 | ||||||||||||||||||||||
Regulatory Asset for Under-Recovered Fuel Costs | Regulatory Asset for Under-Recovered Fuel Costs | 15.3 | 5.3 | Regulatory Asset for Under-Recovered Fuel Costs | 49.2 | 5.3 | ||||||||||||||||||||||
Prepayments and Other Current Assets | Prepayments and Other Current Assets | 24.7 | 24.7 | Prepayments and Other Current Assets | 72.1 | 24.7 | ||||||||||||||||||||||
TOTAL CURRENT ASSETS | TOTAL CURRENT ASSETS | 852.7 | 674.1 | TOTAL CURRENT ASSETS | 784.4 | 674.1 | ||||||||||||||||||||||
PROPERTY, PLANT AND EQUIPMENT | PROPERTY, PLANT AND EQUIPMENT | PROPERTY, PLANT AND EQUIPMENT | ||||||||||||||||||||||||||
Electric: | Electric: | Electric: | ||||||||||||||||||||||||||
Generation | Generation | 6,643.9 | 6,633.7 | Generation | 6,670.8 | 6,633.7 | ||||||||||||||||||||||
Transmission | Transmission | 3,931.7 | 3,900.5 | Transmission | 4,052.9 | 3,900.5 | ||||||||||||||||||||||
Distribution | Distribution | 4,511.5 | 4,464.3 | Distribution | 4,621.1 | 4,464.3 | ||||||||||||||||||||||
Other Property, Plant and Equipment | Other Property, Plant and Equipment | 644.2 | 627.2 | Other Property, Plant and Equipment | 682.4 | 627.2 | ||||||||||||||||||||||
Construction Work in Progress | Construction Work in Progress | 525.9 | 484.6 | Construction Work in Progress | 567.7 | 484.6 | ||||||||||||||||||||||
Total Property, Plant and Equipment | Total Property, Plant and Equipment | 16,257.2 | 16,110.3 | Total Property, Plant and Equipment | 16,594.9 | 16,110.3 | ||||||||||||||||||||||
Accumulated Depreciation and Amortization | Accumulated Depreciation and Amortization | 4,802.0 | 4,716.2 | Accumulated Depreciation and Amortization | 4,973.1 | 4,716.2 | ||||||||||||||||||||||
TOTAL PROPERTY, PLANT AND EQUIPMENT – NET | TOTAL PROPERTY, PLANT AND EQUIPMENT – NET | 11,455.2 | 11,394.1 | TOTAL PROPERTY, PLANT AND EQUIPMENT – NET | 11,621.8 | 11,394.1 | ||||||||||||||||||||||
OTHER NONCURRENT ASSETS | OTHER NONCURRENT ASSETS | OTHER NONCURRENT ASSETS | ||||||||||||||||||||||||||
Regulatory Assets | Regulatory Assets | 727.1 | 686.3 | Regulatory Assets | 818.6 | 686.3 | ||||||||||||||||||||||
Securitized Assets | Securitized Assets | 203.9 | 210.1 | Securitized Assets | 191.3 | 210.1 | ||||||||||||||||||||||
Employee Benefits and Pension Assets | Employee Benefits and Pension Assets | 152.3 | 150.1 | Employee Benefits and Pension Assets | 156.8 | 150.1 | ||||||||||||||||||||||
Operating Lease Assets | Operating Lease Assets | 76.3 | 78.8 | Operating Lease Assets | 70.4 | 78.8 | ||||||||||||||||||||||
Deferred Charges and Other Noncurrent Assets | Deferred Charges and Other Noncurrent Assets | 130.1 | 121.7 | Deferred Charges and Other Noncurrent Assets | 93.5 | 121.7 | ||||||||||||||||||||||
TOTAL OTHER NONCURRENT ASSETS | TOTAL OTHER NONCURRENT ASSETS | 1,289.7 | 1,247.0 | TOTAL OTHER NONCURRENT ASSETS | 1,330.6 | 1,247.0 | ||||||||||||||||||||||
TOTAL ASSETS | TOTAL ASSETS | $ | 13,597.6 | $ | 13,315.2 | TOTAL ASSETS | $ | 13,736.8 | $ | 13,315.2 | ||||||||||||||||||
March 31, | December 31, | September 30, | December 31, | |||||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | |||||||||||||||||||||||||
(in millions) | (in millions) | |||||||||||||||||||||||||||
CURRENT LIABILITIES | CURRENT LIABILITIES | CURRENT LIABILITIES | ||||||||||||||||||||||||||
Advances from Affiliates | Advances from Affiliates | $ | 0 | $ | 18.6 | Advances from Affiliates | $ | — | $ | 18.6 | ||||||||||||||||||
Accounts Payable: | Accounts Payable: | Accounts Payable: | ||||||||||||||||||||||||||
General | General | 247.1 | 212.0 | General | 224.7 | 212.0 | ||||||||||||||||||||||
Affiliated Companies | Affiliated Companies | 99.3 | 97.1 | Affiliated Companies | 97.2 | 97.1 | ||||||||||||||||||||||
Long-term Debt Due Within One Year – Nonaffiliated | Long-term Debt Due Within One Year – Nonaffiliated | 168.5 | 518.3 | Long-term Debt Due Within One Year – Nonaffiliated | 380.6 | 518.3 | ||||||||||||||||||||||
Customer Deposits | Customer Deposits | 75.0 | 77.8 | Customer Deposits | 72.9 | 77.8 | ||||||||||||||||||||||
Accrued Taxes | Accrued Taxes | 114.4 | 109.9 | Accrued Taxes | 88.5 | 109.9 | ||||||||||||||||||||||
Accrued Interest | Accrued Interest | 73.8 | 49.9 | Accrued Interest | 80.0 | 49.9 | ||||||||||||||||||||||
Obligations Under Operating Leases | Obligations Under Operating Leases | 14.9 | 14.9 | Obligations Under Operating Leases | 15.1 | 14.9 | ||||||||||||||||||||||
Other Current Liabilities | Other Current Liabilities | 107.9 | 119.2 | Other Current Liabilities | 107.6 | 119.2 | ||||||||||||||||||||||
TOTAL CURRENT LIABILITIES | TOTAL CURRENT LIABILITIES | 900.9 | 1,217.7 | TOTAL CURRENT LIABILITIES | 1,066.6 | 1,217.7 | ||||||||||||||||||||||
NONCURRENT LIABILITIES | NONCURRENT LIABILITIES | NONCURRENT LIABILITIES | ||||||||||||||||||||||||||
Long-term Debt – Nonaffiliated | Long-term Debt – Nonaffiliated | 4,797.7 | 4,315.8 | Long-term Debt – Nonaffiliated | 4,557.2 | 4,315.8 | ||||||||||||||||||||||
Deferred Income Taxes | Deferred Income Taxes | 1,763.1 | 1,749.9 | Deferred Income Taxes | 1,739.3 | 1,749.9 | ||||||||||||||||||||||
Regulatory Liabilities and Deferred Investment Tax Credits | Regulatory Liabilities and Deferred Investment Tax Credits | 1,215.6 | 1,224.7 | Regulatory Liabilities and Deferred Investment Tax Credits | 1,250.9 | 1,224.7 | ||||||||||||||||||||||
Asset Retirement Obligations | Asset Retirement Obligations | 305.5 | 304.8 | Asset Retirement Obligations | 393.6 | 304.8 | ||||||||||||||||||||||
Employee Benefits and Pension Obligations | Employee Benefits and Pension Obligations | 44.0 | 44.0 | Employee Benefits and Pension Obligations | 42.9 | 44.0 | ||||||||||||||||||||||
Obligations Under Operating Leases | Obligations Under Operating Leases | 61.9 | 64.4 | Obligations Under Operating Leases | 55.9 | 64.4 | ||||||||||||||||||||||
Deferred Credits and Other Noncurrent Liabilities | Deferred Credits and Other Noncurrent Liabilities | 46.7 | 49.6 | Deferred Credits and Other Noncurrent Liabilities | 43.1 | 49.6 | ||||||||||||||||||||||
TOTAL NONCURRENT LIABILITIES | TOTAL NONCURRENT LIABILITIES | 8,234.5 | 7,753.2 | TOTAL NONCURRENT LIABILITIES | 8,082.9 | 7,753.2 | ||||||||||||||||||||||
TOTAL LIABILITIES | TOTAL LIABILITIES | 9,135.4 | 8,970.9 | TOTAL LIABILITIES | 9,149.5 | 8,970.9 | ||||||||||||||||||||||
Rate Matters (Note 4) | Rate Matters (Note 4) | 0 | 0 | Rate Matters (Note 4) | 0 | 0 | ||||||||||||||||||||||
Commitments and Contingencies (Note 5) | Commitments and Contingencies (Note 5) | 0 | 0 | Commitments and Contingencies (Note 5) | 0 | 0 | ||||||||||||||||||||||
COMMON SHAREHOLDER’S EQUITY | COMMON SHAREHOLDER’S EQUITY | COMMON SHAREHOLDER’S EQUITY | ||||||||||||||||||||||||||
Common Stock – NaN Par Value: | ||||||||||||||||||||||||||||
Common Stock – No Par Value: | Common Stock – No Par Value: | |||||||||||||||||||||||||||
Authorized – 30,000,000 Shares | Authorized – 30,000,000 Shares | Authorized – 30,000,000 Shares | ||||||||||||||||||||||||||
Outstanding – 13,499,500 Shares | Outstanding – 13,499,500 Shares | 260.4 | 260.4 | Outstanding – 13,499,500 Shares | 260.4 | 260.4 | ||||||||||||||||||||||
Paid-in Capital | Paid-in Capital | 1,828.7 | 1,828.7 | Paid-in Capital | 1,828.7 | 1,828.7 | ||||||||||||||||||||||
Retained Earnings | Retained Earnings | 2,358.0 | 2,248.0 | Retained Earnings | 2,485.6 | 2,248.0 | ||||||||||||||||||||||
Accumulated Other Comprehensive Income (Loss) | Accumulated Other Comprehensive Income (Loss) | 15.1 | 7.2 | Accumulated Other Comprehensive Income (Loss) | 12.6 | 7.2 | ||||||||||||||||||||||
TOTAL COMMON SHAREHOLDER’S EQUITY | TOTAL COMMON SHAREHOLDER’S EQUITY | 4,462.2 | 4,344.3 | TOTAL COMMON SHAREHOLDER’S EQUITY | 4,587.3 | 4,344.3 | ||||||||||||||||||||||
TOTAL LIABILITIES AND COMMON SHAREHOLDER’S EQUITY | TOTAL LIABILITIES AND COMMON SHAREHOLDER’S EQUITY | $ | 13,597.6 | $ | 13,315.2 | TOTAL LIABILITIES AND COMMON SHAREHOLDER’S EQUITY | $ | 13,736.8 | $ | 13,315.2 | ||||||||||||||||||
Three Months Ended March 31, | Nine Months Ended September 30, | |||||||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | |||||||||||||||||||||||||
OPERATING ACTIVITIES | OPERATING ACTIVITIES | OPERATING ACTIVITIES | ||||||||||||||||||||||||||
Net Income | Net Income | $ | 122.5 | $ | 115.3 | Net Income | $ | 275.1 | $ | 313.2 | ||||||||||||||||||
Adjustments to Reconcile Net Income to Net Cash Flows from Operating Activities: | Adjustments to Reconcile Net Income to Net Cash Flows from Operating Activities: | Adjustments to Reconcile Net Income to Net Cash Flows from Operating Activities: | ||||||||||||||||||||||||||
Depreciation and Amortization | Depreciation and Amortization | 135.8 | 122.2 | Depreciation and Amortization | 406.6 | 366.0 | ||||||||||||||||||||||
Deferred Income Taxes | Deferred Income Taxes | (1.7) | (5.1) | Deferred Income Taxes | (12.0) | (28.2) | ||||||||||||||||||||||
Allowance for Equity Funds Used During Construction | Allowance for Equity Funds Used During Construction | (3.5) | (2.4) | Allowance for Equity Funds Used During Construction | (12.1) | (11.5) | ||||||||||||||||||||||
Mark-to-Market of Risk Management Contracts | Mark-to-Market of Risk Management Contracts | 12.1 | 29.6 | Mark-to-Market of Risk Management Contracts | (26.8) | 8.0 | ||||||||||||||||||||||
Pension Contributions to Qualified Plan Trust | Pension Contributions to Qualified Plan Trust | — | (7.0) | |||||||||||||||||||||||||
Deferred Fuel Over/Under-Recovery, Net | Deferred Fuel Over/Under-Recovery, Net | (6.4) | 7.6 | Deferred Fuel Over/Under-Recovery, Net | (43.9) | 38.8 | ||||||||||||||||||||||
Change in Other Noncurrent Assets | Change in Other Noncurrent Assets | (54.3) | (24.4) | Change in Other Noncurrent Assets | (39.2) | 5.4 | ||||||||||||||||||||||
Change in Other Noncurrent Liabilities | Change in Other Noncurrent Liabilities | 6.8 | (16.1) | Change in Other Noncurrent Liabilities | 20.2 | (26.0) | ||||||||||||||||||||||
Changes in Certain Components of Working Capital: | Changes in Certain Components of Working Capital: | Changes in Certain Components of Working Capital: | ||||||||||||||||||||||||||
Accounts Receivable, Net | Accounts Receivable, Net | 25.1 | (2.6) | Accounts Receivable, Net | 38.1 | 7.2 | ||||||||||||||||||||||
Fuel, Materials and Supplies | Fuel, Materials and Supplies | 25.2 | (5.5) | Fuel, Materials and Supplies | 126.3 | 12.4 | ||||||||||||||||||||||
Accounts Payable | Accounts Payable | 46.0 | (86.6) | Accounts Payable | 26.5 | (74.0) | ||||||||||||||||||||||
Accrued Taxes, Net | Accrued Taxes, Net | 8.2 | 14.5 | Accrued Taxes, Net | (48.0) | 1.9 | ||||||||||||||||||||||
Other Current Assets | Other Current Assets | (3.6) | 19.2 | Other Current Assets | (20.7) | 10.1 | ||||||||||||||||||||||
Other Current Liabilities | Other Current Liabilities | 3.1 | (11.1) | Other Current Liabilities | 0.5 | (9.7) | ||||||||||||||||||||||
Net Cash Flows from Operating Activities | Net Cash Flows from Operating Activities | 315.3 | 154.6 | Net Cash Flows from Operating Activities | 690.6 | 606.6 | ||||||||||||||||||||||
INVESTING ACTIVITIES | INVESTING ACTIVITIES | INVESTING ACTIVITIES | ||||||||||||||||||||||||||
Construction Expenditures | Construction Expenditures | (187.5) | (219.1) | Construction Expenditures | (586.4) | (566.6) | ||||||||||||||||||||||
Change in Advances to Affiliates, Net | Change in Advances to Affiliates, Net | (239.7) | 0.3 | Change in Advances to Affiliates, Net | (163.8) | (137.4) | ||||||||||||||||||||||
Other Investing Activities | Other Investing Activities | 6.6 | 1.1 | Other Investing Activities | 12.4 | 4.6 | ||||||||||||||||||||||
Net Cash Flows Used for Investing Activities | Net Cash Flows Used for Investing Activities | (420.6) | (217.7) | Net Cash Flows Used for Investing Activities | (737.8) | (699.4) | ||||||||||||||||||||||
FINANCING ACTIVITIES | FINANCING ACTIVITIES | FINANCING ACTIVITIES | ||||||||||||||||||||||||||
Issuance of Long-term Debt – Nonaffiliated | Issuance of Long-term Debt – Nonaffiliated | 494.3 | 0 | Issuance of Long-term Debt – Nonaffiliated | 494.0 | 557.2 | ||||||||||||||||||||||
Change in Advances from Affiliates, Net | Change in Advances from Affiliates, Net | (18.6) | 118.6 | Change in Advances from Affiliates, Net | (18.6) | (232.4) | ||||||||||||||||||||||
Retirement of Long-term Debt – Nonaffiliated | Retirement of Long-term Debt – Nonaffiliated | (362.5) | (12.2) | Retirement of Long-term Debt – Nonaffiliated | (393.0) | (90.3) | ||||||||||||||||||||||
Principal Payments for Finance Lease Obligations | Principal Payments for Finance Lease Obligations | (1.9) | (1.8) | Principal Payments for Finance Lease Obligations | (5.8) | (5.6) | ||||||||||||||||||||||
Dividends Paid on Common Stock | Dividends Paid on Common Stock | (12.5) | (50.0) | Dividends Paid on Common Stock | (37.5) | (150.0) | ||||||||||||||||||||||
Other Financing Activities | Other Financing Activities | 0.2 | 0.2 | Other Financing Activities | 0.5 | 0.3 | ||||||||||||||||||||||
Net Cash Flows from Financing Activities | Net Cash Flows from Financing Activities | 99.0 | 54.8 | Net Cash Flows from Financing Activities | 39.6 | 79.2 | ||||||||||||||||||||||
Net Decrease in Cash, Cash Equivalents and Restricted Cash for Securitized Funding | Net Decrease in Cash, Cash Equivalents and Restricted Cash for Securitized Funding | (6.3) | (8.3) | Net Decrease in Cash, Cash Equivalents and Restricted Cash for Securitized Funding | (7.6) | (13.6) | ||||||||||||||||||||||
Cash, Cash Equivalents and Restricted Cash for Securitized Funding at Beginning of Period | Cash, Cash Equivalents and Restricted Cash for Securitized Funding at Beginning of Period | 22.7 | 26.8 | Cash, Cash Equivalents and Restricted Cash for Securitized Funding at Beginning of Period | 22.7 | 26.8 | ||||||||||||||||||||||
Cash, Cash Equivalents and Restricted Cash for Securitized Funding at End of Period | Cash, Cash Equivalents and Restricted Cash for Securitized Funding at End of Period | $ | 16.4 | $ | 18.5 | Cash, Cash Equivalents and Restricted Cash for Securitized Funding at End of Period | $ | 15.1 | $ | 13.2 | ||||||||||||||||||
SUPPLEMENTARY INFORMATION | SUPPLEMENTARY INFORMATION | SUPPLEMENTARY INFORMATION | ||||||||||||||||||||||||||
Cash Paid for Interest, Net of Capitalized Amounts | Cash Paid for Interest, Net of Capitalized Amounts | $ | 28.9 | $ | 31.9 | Cash Paid for Interest, Net of Capitalized Amounts | $ | 124.2 | $ | 130.0 | ||||||||||||||||||
Net Cash Paid (Received) for Income Taxes | Net Cash Paid (Received) for Income Taxes | 52.6 | (10.7) | |||||||||||||||||||||||||
Noncash Acquisitions Under Finance Leases | Noncash Acquisitions Under Finance Leases | 1.3 | 3.0 | |||||||||||||||||||||||||
Construction Expenditures Included in Current Liabilities as of September 30, | Construction Expenditures Included in Current Liabilities as of September 30, | 92.3 | 90.0 | |||||||||||||||||||||||||
Noncash Acquisitions Under Finance Leases | 0.4 | 1.9 | ||||||||||||||||||||||||||
Construction Expenditures Included in Current Liabilities as of March 31, | 96.1 | 103.7 | ||||||||||||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||||||||||||||||||||||||||||||||
Three Months Ended March 31, | September 30, | September 30, | ||||||||||||||||||||||||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | 2021 | 2020 | |||||||||||||||||||||||||||||||||||||||||
(in millions of KWhs) | (in millions of KWhs) | |||||||||||||||||||||||||||||||||||||||||||||
Retail: | Retail: | Retail: | ||||||||||||||||||||||||||||||||||||||||||||
Residential | Residential | 1,532 | 1,455 | Residential | 1,531 | 1,531 | 4,244 | 4,230 | ||||||||||||||||||||||||||||||||||||||
Commercial | Commercial | 1,078 | 1,122 | Commercial | 1,267 | 1,219 | 3,481 | 3,362 | ||||||||||||||||||||||||||||||||||||||
Industrial | Industrial | 1,802 | 1,845 | Industrial | 1,853 | 1,849 | 5,542 | 5,324 | ||||||||||||||||||||||||||||||||||||||
Miscellaneous | Miscellaneous | 17 | 18 | Miscellaneous | 13 | 14 | 42 | 47 | ||||||||||||||||||||||||||||||||||||||
Total Retail | Total Retail | 4,429 | 4,440 | Total Retail | 4,664 | 4,613 | 13,309 | 12,963 | ||||||||||||||||||||||||||||||||||||||
Wholesale | Wholesale | 1,945 | 1,693 | Wholesale | 1,610 | 1,536 | 5,055 | 5,552 | ||||||||||||||||||||||||||||||||||||||
Total KWhs | Total KWhs | 6,374 | 6,133 | Total KWhs | 6,274 | 6,149 | 18,364 | 18,515 |
Three Months Ended | Nine Months Ended | |||||||||||||||||||||||||||||||||||||||||||||
Three Months Ended March 31, | September 30, | September 30, | ||||||||||||||||||||||||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | 2021 | 2020 | |||||||||||||||||||||||||||||||||||||||||
(in degree days) | (in degree days) | |||||||||||||||||||||||||||||||||||||||||||||
Actual – Heating (a) | Actual – Heating (a) | 2,056 | 1,836 | Actual – Heating (a) | 2 | 7 | 2,343 | 2,186 | ||||||||||||||||||||||||||||||||||||||
Normal – Heating (b) | Normal – Heating (b) | 2,170 | 2,182 | Normal – Heating (b) | 9 | 10 | 2,417 | 2,429 | ||||||||||||||||||||||||||||||||||||||
Actual – Cooling (c) | Actual – Cooling (c) | — | — | Actual – Cooling (c) | 679 | 637 | 1,004 | 923 | ||||||||||||||||||||||||||||||||||||||
Normal – Cooling (b) | Normal – Cooling (b) | 1 | 2 | Normal – Cooling (b) | 581 | 576 | 848 | 841 |
Indiana Michigan Power Company and Subsidiaries | ||||||||||
Reconciliation of | ||||||||||
Net Income | ||||||||||
(in millions) | ||||||||||
$ | ||||||||||
Changes in Gross Margin: | ||||||||||
Retail Margins | ||||||||||
Margins from Off-system Sales | ||||||||||
Transmission Revenues | ||||||||||
Other Revenues | ||||||||||
Total Change in Gross Margin | ||||||||||
Changes in Expenses and Other: | ||||||||||
Other Operation and Maintenance | ||||||||||
Depreciation and Amortization | ||||||||||
Taxes Other Than Income Taxes | ||||||||||
Other Income | ||||||||||
Interest Expense | ||||||||||
Total Change in Expenses and Other | ||||||||||
Income Tax Expense | ||||||||||
$ |
Indiana Michigan Power Company and Subsidiaries | ||||||||
Reconciliation of Nine Months Ended September 30, 2020 to Nine Months Ended September 30, 2021 | ||||||||
Net Income | ||||||||
(in millions) | ||||||||
Nine Months Ended September 30, 2020 | $ | 232.8 | ||||||
Changes in Gross Margin: | ||||||||
Retail Margins | 57.0 | |||||||
Transmission Revenues | (5.2) | |||||||
Other Revenues | 4.0 | |||||||
Total Change in Gross Margin | 55.8 | |||||||
Changes in Expenses and Other: | ||||||||
Other Operation and Maintenance | (43.7) | |||||||
Depreciation and Amortization | (25.1) | |||||||
Taxes Other Than Income Taxes | (4.3) | |||||||
Other Income | 1.1 | |||||||
Non-Service Cost Components of Net Periodic Benefit Cost | (0.2) | |||||||
Interest Expense | (0.9) | |||||||
Total Change in Expenses and Other | (73.1) | |||||||
Income Tax Expense | 16.6 | |||||||
Nine Months Ended September 30, 2021 | $ | 232.1 |
Three Months Ended | Nine Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||
Three Months Ended March 31, | September 30, | September 30, | ||||||||||||||||||||||||||||||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | 2021 | 2020 | |||||||||||||||||||||||||||||||||||||||||||||||
REVENUES | REVENUES | REVENUES | ||||||||||||||||||||||||||||||||||||||||||||||||||
Electric Generation, Transmission and Distribution | Electric Generation, Transmission and Distribution | $ | 547.7 | $ | 553.4 | Electric Generation, Transmission and Distribution | $ | 618.2 | $ | 570.1 | $ | 1,735.1 | $ | 1,648.4 | ||||||||||||||||||||||||||||||||||||||
Sales to AEP Affiliates | Sales to AEP Affiliates | 0.8 | 2.9 | Sales to AEP Affiliates | 1.1 | 1.3 | 2.6 | 9.1 | ||||||||||||||||||||||||||||||||||||||||||||
Other Revenues – Affiliated | Other Revenues – Affiliated | 14.3 | 12.5 | Other Revenues – Affiliated | 14.7 | 14.1 | 41.2 | 42.4 | ||||||||||||||||||||||||||||||||||||||||||||
Other Revenues – Nonaffiliated | Other Revenues – Nonaffiliated | 1.7 | 1.5 | Other Revenues – Nonaffiliated | 1.7 | 1.2 | 5.1 | 3.7 | ||||||||||||||||||||||||||||||||||||||||||||
TOTAL REVENUES | TOTAL REVENUES | 564.5 | 570.3 | TOTAL REVENUES | 635.7 | 586.7 | 1,784.0 | 1,703.6 | ||||||||||||||||||||||||||||||||||||||||||||
EXPENSES | EXPENSES | EXPENSES | ||||||||||||||||||||||||||||||||||||||||||||||||||
Fuel and Other Consumables Used for Electric Generation | Fuel and Other Consumables Used for Electric Generation | 36.3 | 53.2 | Fuel and Other Consumables Used for Electric Generation | 43.7 | 44.4 | 129.9 | 146.0 | ||||||||||||||||||||||||||||||||||||||||||||
Purchased Electricity for Resale | Purchased Electricity for Resale | 47.3 | 50.1 | Purchased Electricity for Resale | 44.9 | 37.5 | 131.9 | 128.1 | ||||||||||||||||||||||||||||||||||||||||||||
Purchased Electricity from AEP Affiliates | Purchased Electricity from AEP Affiliates | 51.6 | 36.2 | Purchased Electricity from AEP Affiliates | 63.3 | 55.9 | 172.7 | 135.8 | ||||||||||||||||||||||||||||||||||||||||||||
Other Operation | Other Operation | 154.6 | 144.7 | Other Operation | 167.5 | 165.5 | 482.4 | 459.7 | ||||||||||||||||||||||||||||||||||||||||||||
Maintenance | Maintenance | 49.0 | 49.1 | Maintenance | 52.0 | 51.0 | 165.4 | 144.4 | ||||||||||||||||||||||||||||||||||||||||||||
Depreciation and Amortization | Depreciation and Amortization | 109.2 | 93.9 | Depreciation and Amortization | 110.6 | 104.5 | 328.7 | 303.6 | ||||||||||||||||||||||||||||||||||||||||||||
Taxes Other Than Income Taxes | Taxes Other Than Income Taxes | 26.2 | 26.4 | Taxes Other Than Income Taxes | 27.8 | 27.4 | 83.8 | 79.5 | ||||||||||||||||||||||||||||||||||||||||||||
TOTAL EXPENSES | TOTAL EXPENSES | 474.2 | 453.6 | TOTAL EXPENSES | 509.8 | 486.2 | 1,494.8 | 1,397.1 | ||||||||||||||||||||||||||||||||||||||||||||
OPERATING INCOME | OPERATING INCOME | 90.3 | 116.7 | OPERATING INCOME | 125.9 | 100.5 | 289.2 | 306.5 | ||||||||||||||||||||||||||||||||||||||||||||
Other Income (Expense): | Other Income (Expense): | Other Income (Expense): | ||||||||||||||||||||||||||||||||||||||||||||||||||
Other Income | Other Income | 3.0 | 2.5 | Other Income | 2.5 | 2.2 | 8.9 | 7.8 | ||||||||||||||||||||||||||||||||||||||||||||
Non-Service Cost Components of Net Periodic Benefit Cost | Non-Service Cost Components of Net Periodic Benefit Cost | 4.1 | 4.2 | Non-Service Cost Components of Net Periodic Benefit Cost | 4.1 | 4.1 | 12.3 | 12.5 | ||||||||||||||||||||||||||||||||||||||||||||
Interest Expense | Interest Expense | (27.3) | (30.7) | Interest Expense | (30.2) | (26.9) | (86.6) | (85.7) | ||||||||||||||||||||||||||||||||||||||||||||
INCOME BEFORE INCOME TAX EXPENSE (BENEFIT) | INCOME BEFORE INCOME TAX EXPENSE (BENEFIT) | 70.1 | 92.7 | INCOME BEFORE INCOME TAX EXPENSE (BENEFIT) | 102.3 | 79.9 | 223.8 | 241.1 | ||||||||||||||||||||||||||||||||||||||||||||
Income Tax Expense (Benefit) | Income Tax Expense (Benefit) | (0.7) | 0.4 | Income Tax Expense (Benefit) | (1.8) | 3.2 | (8.3) | 8.3 | ||||||||||||||||||||||||||||||||||||||||||||
NET INCOME | NET INCOME | $ | 70.8 | $ | 92.3 | NET INCOME | $ | 104.1 | $ | 76.7 | $ | 232.1 | $ | 232.8 | ||||||||||||||||||||||||||||||||||||||
The common stock of I&M is wholly-owned by Parent. | The common stock of I&M is wholly-owned by Parent. | The common stock of I&M is wholly-owned by Parent. | ||||||||||||||||||||||||||||||||||||||||||||||||||
Three Months Ended March 31, | ||||||||||||||||||||||||||
2021 | 2020 | |||||||||||||||||||||||||
Net Income | $ | 70.8 | $ | 92.3 | ||||||||||||||||||||||
OTHER COMPREHENSIVE INCOME, NET OF TAXES | ||||||||||||||||||||||||||
Cash Flow Hedges, Net of Tax of $0.1 and $0.1 in 2021 and 2020, Respectively | 0.5 | 0.4 | ||||||||||||||||||||||||
TOTAL COMPREHENSIVE INCOME | $ | 71.3 | $ | 92.7 | ||||||||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||||||||||||
September 30, | September 30, | |||||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | |||||||||||||||||||||||
Net Income | $ | 104.1 | $ | 76.7 | $ | 232.1 | $ | 232.8 | ||||||||||||||||||
OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAXES | ||||||||||||||||||||||||||
Cash Flow Hedges, Net of Tax of $0.1 and $0.1 for the Three Months Ended September 30, 2021 and 2020, Respectively, and $0.3 and $0.3 for the Nine Months Ended September 30, 2021 and 2020, Respectively | 0.4 | 0.4 | 1.3 | 1.2 | ||||||||||||||||||||||
Amortization of Pension and OPEB Deferred Costs, Net of Tax of $0 and $0 for the Three Months Ended September 30, 2021 and 2020, Respectively, and $0 and $0 for the Nine Months Ended September 30, 2021 and 2020, Respectively | — | (0.1) | (0.1) | (0.1) | ||||||||||||||||||||||
TOTAL OTHER COMPREHENSIVE INCOME | 0.4 | 0.3 | 1.2 | 1.1 | ||||||||||||||||||||||
TOTAL COMPREHENSIVE INCOME | $ | 104.5 | $ | 77.0 | $ | 233.3 | $ | 233.9 | ||||||||||||||||||
Common Stock | Paid-in Capital | Retained Earnings | Accumulated Other Comprehensive Income (Loss) | Total | Common Stock | Paid-in Capital | Retained Earnings | Accumulated Other Comprehensive Income (Loss) | Total | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
TOTAL COMMON SHAREHOLDER’S EQUITY - DECEMBER 31, 2019 | TOTAL COMMON SHAREHOLDER’S EQUITY - DECEMBER 31, 2019 | $ | 56.6 | $ | 980.9 | $ | 1,518.5 | $ | (11.6) | $ | 2,544.4 | TOTAL COMMON SHAREHOLDER’S EQUITY - DECEMBER 31, 2019 | $ | 56.6 | $ | 980.9 | $ | 1,518.5 | $ | (11.6) | $ | 2,544.4 | ||||||||||||||||||||||||||||||||||||||||||
Common Stock Dividends | Common Stock Dividends | (21.3) | (21.3) | Common Stock Dividends | (21.3) | (21.3) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
ASU 2016-13 Adoption | ASU 2016-13 Adoption | 0.4 | 0.4 | ASU 2016-13 Adoption | 0.4 | 0.4 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net Income | Net Income | 92.3 | 92.3 | Net Income | 92.3 | 92.3 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Comprehensive Income | Other Comprehensive Income | 0.4 | 0.4 | Other Comprehensive Income | 0.4 | 0.4 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
TOTAL COMMON SHAREHOLDER’S EQUITY - MARCH 31, 2020 | $ | 56.6 | $ | 980.9 | $ | 1,589.9 | $ | (11.2) | $ | 2,616.2 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
TOTAL COMMON SHAREHOLDER'S EQUITY -MARCH 31, 2020 | TOTAL COMMON SHAREHOLDER'S EQUITY -MARCH 31, 2020 | 56.6 | 980.9 | 1,589.9 | (11.2) | 2,616.2 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common Stock Dividends | Common Stock Dividends | (21.2) | (21.2) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net Income | Net Income | 63.8 | 63.8 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Comprehensive Income | Other Comprehensive Income | 0.4 | 0.4 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
TOTAL COMMON SHAREHOLDER'S EQUITY - JUNE 30, 2020 | TOTAL COMMON SHAREHOLDER'S EQUITY - JUNE 30, 2020 | 56.6 | 980.9 | 1,632.5 | (10.8) | 2,659.2 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common Stock Dividends | Common Stock Dividends | (21.2) | (21.2) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net Income | Net Income | 76.7 | 76.7 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Comprehensive Income | Other Comprehensive Income | 0.3 | 0.3 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
TOTAL COMMON SHAREHOLDER'S EQUITY - SEPTEMBER 30, 2020 | TOTAL COMMON SHAREHOLDER'S EQUITY - SEPTEMBER 30, 2020 | $ | 56.6 | $ | 980.9 | $ | 1,688.0 | $ | (10.5) | $ | 2,715.0 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
TOTAL COMMON SHAREHOLDER’S EQUITY - DECEMBER 31, 2020 | TOTAL COMMON SHAREHOLDER’S EQUITY - DECEMBER 31, 2020 | $ | 56.6 | $ | 980.9 | $ | 1,718.7 | $ | (7.0) | $ | 2,749.2 | TOTAL COMMON SHAREHOLDER’S EQUITY - DECEMBER 31, 2020 | $ | 56.6 | $ | 980.9 | $ | 1,718.7 | $ | (7.0) | $ | 2,749.2 | ||||||||||||||||||||||||||||||||||||||||||
Common Stock Dividends | Common Stock Dividends | (25.0) | (25.0) | Common Stock Dividends | (25.0) | (25.0) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net Income | Net Income | 70.8 | 70.8 | Net Income | 70.8 | 70.8 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Comprehensive Income | Other Comprehensive Income | 0.5 | 0.5 | Other Comprehensive Income | 0.5 | 0.5 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
TOTAL COMMON SHAREHOLDER’S EQUITY - MARCH 31, 2021 | $ | 56.6 | $ | 980.9 | $ | 1,764.5 | $ | (6.5) | $ | 2,795.5 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
TOTAL COMMON SHAREHOLDER'S EQUITY - MARCH 31, 2021 | TOTAL COMMON SHAREHOLDER'S EQUITY - MARCH 31, 2021 | 56.6 | 980.9 | 1,764.5 | (6.5) | 2,795.5 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common Stock Dividends | Common Stock Dividends | (75.0) | (75.0) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net Income | Net Income | 57.2 | 57.2 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Comprehensive Income | Other Comprehensive Income | 0.3 | 0.3 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
TOTAL COMMON SHAREHOLDER'S EQUITY - JUNE 30, 2021 | TOTAL COMMON SHAREHOLDER'S EQUITY - JUNE 30, 2021 | 56.6 | 980.9 | 1,746.7 | (6.2) | 2,778.0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common Stock Dividends | Common Stock Dividends | (75.0) | (75.0) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net Income | Net Income | 104.1 | 104.1 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Comprehensive Income | Other Comprehensive Income | 0.4 | 0.4 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
TOTAL COMMON SHAREHOLDER'S EQUITY - SEPTEMBER 30, 2021 | TOTAL COMMON SHAREHOLDER'S EQUITY - SEPTEMBER 30, 2021 | $ | 56.6 | $ | 980.9 | $ | 1,775.8 | $ | (5.8) | $ | 2,807.5 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
March 31, | December 31, | September 30, | December 31, | |||||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | |||||||||||||||||||||||||
CURRENT ASSETS | CURRENT ASSETS | CURRENT ASSETS | ||||||||||||||||||||||||||
Cash and Cash Equivalents | Cash and Cash Equivalents | $ | 2.8 | $ | 3.3 | Cash and Cash Equivalents | $ | 3.2 | $ | 3.3 | ||||||||||||||||||
Advances to Affiliates | Advances to Affiliates | 13.3 | 13.3 | Advances to Affiliates | 80.6 | 13.3 | ||||||||||||||||||||||
Accounts Receivable: | Accounts Receivable: | Accounts Receivable: | ||||||||||||||||||||||||||
Customers | Customers | 32.7 | 44.0 | Customers | 39.8 | 44.0 | ||||||||||||||||||||||
Affiliated Companies | Affiliated Companies | 48.8 | 51.3 | Affiliated Companies | 37.9 | 51.3 | ||||||||||||||||||||||
Accrued Unbilled Revenues | 0.4 | 0 | ||||||||||||||||||||||||||
Miscellaneous | Miscellaneous | 1.6 | 2.0 | Miscellaneous | 2.8 | 2.0 | ||||||||||||||||||||||
Allowance for Uncollectible Accounts | Allowance for Uncollectible Accounts | (0.4) | (0.3) | Allowance for Uncollectible Accounts | (0.3) | (0.3) | ||||||||||||||||||||||
Total Accounts Receivable | Total Accounts Receivable | 83.1 | 97.0 | Total Accounts Receivable | 80.2 | 97.0 | ||||||||||||||||||||||
Fuel | Fuel | 80.2 | 86.0 | Fuel | 46.7 | 86.0 | ||||||||||||||||||||||
Materials and Supplies | Materials and Supplies | 172.8 | 175.8 | Materials and Supplies | 172.2 | 175.8 | ||||||||||||||||||||||
Risk Management Assets | Risk Management Assets | 0.9 | 3.6 | Risk Management Assets | 5.5 | 3.6 | ||||||||||||||||||||||
Accrued Tax Benefits | Accrued Tax Benefits | 1.0 | 10.3 | Accrued Tax Benefits | 0.1 | 10.3 | ||||||||||||||||||||||
Regulatory Asset for Under-Recovered Fuel Costs | Regulatory Asset for Under-Recovered Fuel Costs | 3.2 | 5.4 | Regulatory Asset for Under-Recovered Fuel Costs | 6.1 | 5.4 | ||||||||||||||||||||||
Prepayments and Other Current Assets | Prepayments and Other Current Assets | 17.9 | 24.1 | Prepayments and Other Current Assets | 26.7 | 24.1 | ||||||||||||||||||||||
TOTAL CURRENT ASSETS | TOTAL CURRENT ASSETS | 375.2 | 418.8 | TOTAL CURRENT ASSETS | 421.3 | 418.8 | ||||||||||||||||||||||
PROPERTY, PLANT AND EQUIPMENT | PROPERTY, PLANT AND EQUIPMENT | PROPERTY, PLANT AND EQUIPMENT | ||||||||||||||||||||||||||
Electric: | Electric: | Electric: | ||||||||||||||||||||||||||
Generation | Generation | 5,302.4 | 5,264.7 | Generation | 5,329.6 | 5,264.7 | ||||||||||||||||||||||
Transmission | Transmission | 1,696.9 | 1,696.4 | Transmission | 1,749.4 | 1,696.4 | ||||||||||||||||||||||
Distribution | Distribution | 2,634.3 | 2,594.6 | Distribution | 2,734.6 | 2,594.6 | ||||||||||||||||||||||
Other Property, Plant and Equipment (Including Coal Mining and Nuclear Fuel) | Other Property, Plant and Equipment (Including Coal Mining and Nuclear Fuel) | 707.4 | 686.7 | Other Property, Plant and Equipment (Including Coal Mining and Nuclear Fuel) | 684.5 | 686.7 | ||||||||||||||||||||||
Construction Work in Progress | Construction Work in Progress | 369.5 | 362.4 | Construction Work in Progress | 377.6 | 362.4 | ||||||||||||||||||||||
Total Property, Plant and Equipment | Total Property, Plant and Equipment | 10,710.5 | 10,604.8 | Total Property, Plant and Equipment | 10,875.7 | 10,604.8 | ||||||||||||||||||||||
Accumulated Depreciation, Depletion and Amortization | Accumulated Depreciation, Depletion and Amortization | 3,647.3 | 3,552.5 | Accumulated Depreciation, Depletion and Amortization | 3,811.9 | 3,552.5 | ||||||||||||||||||||||
TOTAL PROPERTY, PLANT AND EQUIPMENT – NET | TOTAL PROPERTY, PLANT AND EQUIPMENT – NET | 7,063.2 | 7,052.3 | TOTAL PROPERTY, PLANT AND EQUIPMENT – NET | 7,063.8 | 7,052.3 | ||||||||||||||||||||||
OTHER NONCURRENT ASSETS | OTHER NONCURRENT ASSETS | OTHER NONCURRENT ASSETS | ||||||||||||||||||||||||||
Regulatory Assets | Regulatory Assets | 403.4 | 404.8 | Regulatory Assets | 436.1 | 404.8 | ||||||||||||||||||||||
Spent Nuclear Fuel and Decommissioning Trusts | Spent Nuclear Fuel and Decommissioning Trusts | 3,414.3 | 3,306.7 | Spent Nuclear Fuel and Decommissioning Trusts | 3,609.8 | 3,306.7 | ||||||||||||||||||||||
Operating Lease Assets | Operating Lease Assets | 196.8 | 218.1 | Operating Lease Assets | 154.7 | 218.1 | ||||||||||||||||||||||
Deferred Charges and Other Noncurrent Assets | Deferred Charges and Other Noncurrent Assets | 241.3 | 237.6 | Deferred Charges and Other Noncurrent Assets | 219.5 | 237.6 | ||||||||||||||||||||||
TOTAL OTHER NONCURRENT ASSETS | TOTAL OTHER NONCURRENT ASSETS | 4,255.8 | 4,167.2 | TOTAL OTHER NONCURRENT ASSETS | 4,420.1 | 4,167.2 | ||||||||||||||||||||||
TOTAL ASSETS | TOTAL ASSETS | $ | 11,694.2 | $ | 11,638.3 | TOTAL ASSETS | $ | 11,905.2 | $ | 11,638.3 | ||||||||||||||||||
March 31, | December 31, | September 30, | December 31, | |||||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | |||||||||||||||||||||||||
CURRENT LIABILITIES | CURRENT LIABILITIES | CURRENT LIABILITIES | ||||||||||||||||||||||||||
Advances from Affiliates | Advances from Affiliates | $ | 124.6 | $ | 103.0 | Advances from Affiliates | $ | — | $ | 103.0 | ||||||||||||||||||
Accounts Payable: | Accounts Payable: | Accounts Payable: | ||||||||||||||||||||||||||
General | General | 113.7 | 153.2 | General | 132.8 | 153.2 | ||||||||||||||||||||||
Affiliated Companies | Affiliated Companies | 70.9 | 80.5 | Affiliated Companies | 86.2 | 80.5 | ||||||||||||||||||||||
Long-term Debt Due Within One Year – Nonaffiliated (March 31, 2021 and December 31, 2020 Amounts Include $69.2 and $75.7, Respectively, Related to DCC Fuel) | 363.1 | 369.6 | ||||||||||||||||||||||||||
Long-term Debt Due Within One Year – Nonaffiliated (September 30, 2021 and December 31, 2020 Amounts Include $78.7 and $75.7, Respectively, Related to DCC Fuel) | Long-term Debt Due Within One Year – Nonaffiliated (September 30, 2021 and December 31, 2020 Amounts Include $78.7 and $75.7, Respectively, Related to DCC Fuel) | 132.7 | 369.6 | |||||||||||||||||||||||||
Risk Management Liabilities | Risk Management Liabilities | 2.5 | 0.1 | |||||||||||||||||||||||||
Customer Deposits | Customer Deposits | 43.5 | 41.7 | Customer Deposits | 42.4 | 41.7 | ||||||||||||||||||||||
Accrued Taxes | Accrued Taxes | 114.8 | 102.5 | Accrued Taxes | 72.0 | 102.5 | ||||||||||||||||||||||
Accrued Interest | Accrued Interest | 19.7 | 35.6 | Accrued Interest | 25.0 | 35.6 | ||||||||||||||||||||||
Obligations Under Operating Leases | Obligations Under Operating Leases | 85.5 | 85.6 | Obligations Under Operating Leases | 86.2 | 85.6 | ||||||||||||||||||||||
Regulatory Liability for Over-Recovered Fuel Costs | Regulatory Liability for Over-Recovered Fuel Costs | 9.3 | 20.8 | Regulatory Liability for Over-Recovered Fuel Costs | 3.5 | 20.8 | ||||||||||||||||||||||
Other Current Liabilities | Other Current Liabilities | 82.6 | 112.0 | Other Current Liabilities | 104.2 | 111.9 | ||||||||||||||||||||||
TOTAL CURRENT LIABILITIES | TOTAL CURRENT LIABILITIES | 1,027.7 | 1,104.5 | TOTAL CURRENT LIABILITIES | 687.5 | 1,104.5 | ||||||||||||||||||||||
NONCURRENT LIABILITIES | NONCURRENT LIABILITIES | NONCURRENT LIABILITIES | ||||||||||||||||||||||||||
Long-term Debt – Nonaffiliated | Long-term Debt – Nonaffiliated | 2,643.2 | 2,660.3 | Long-term Debt – Nonaffiliated | 3,098.4 | 2,660.3 | ||||||||||||||||||||||
Deferred Income Taxes | Deferred Income Taxes | 1,064.9 | 1,064.4 | Deferred Income Taxes | 1,082.9 | 1,064.4 | ||||||||||||||||||||||
Regulatory Liabilities and Deferred Investment Tax Credits | Regulatory Liabilities and Deferred Investment Tax Credits | 2,111.8 | 2,041.9 | Regulatory Liabilities and Deferred Investment Tax Credits | 2,201.2 | 2,041.9 | ||||||||||||||||||||||
Asset Retirement Obligations | Asset Retirement Obligations | 1,830.9 | 1,812.9 | Asset Retirement Obligations | 1,869.2 | 1,812.9 | ||||||||||||||||||||||
Obligations Under Operating Leases | Obligations Under Operating Leases | 131.3 | 135.9 | Obligations Under Operating Leases | 88.4 | 135.9 | ||||||||||||||||||||||
Deferred Credits and Other Noncurrent Liabilities | Deferred Credits and Other Noncurrent Liabilities | 88.9 | 69.2 | Deferred Credits and Other Noncurrent Liabilities | 70.1 | 69.2 | ||||||||||||||||||||||
TOTAL NONCURRENT LIABILITIES | TOTAL NONCURRENT LIABILITIES | 7,871.0 | 7,784.6 | TOTAL NONCURRENT LIABILITIES | 8,410.2 | 7,784.6 | ||||||||||||||||||||||
TOTAL LIABILITIES | TOTAL LIABILITIES | 8,898.7 | 8,889.1 | TOTAL LIABILITIES | 9,097.7 | 8,889.1 | ||||||||||||||||||||||
Rate Matters (Note 4) | Rate Matters (Note 4) | 0 | 0 | Rate Matters (Note 4) | 0 | 0 | ||||||||||||||||||||||
Commitments and Contingencies (Note 5) | Commitments and Contingencies (Note 5) | 0 | 0 | Commitments and Contingencies (Note 5) | 0 | 0 | ||||||||||||||||||||||
COMMON SHAREHOLDER’S EQUITY | COMMON SHAREHOLDER’S EQUITY | COMMON SHAREHOLDER’S EQUITY | ||||||||||||||||||||||||||
Common Stock – NaN Par Value: | ||||||||||||||||||||||||||||
Common Stock – No Par Value: | Common Stock – No Par Value: | |||||||||||||||||||||||||||
Authorized – 2,500,000 Shares | Authorized – 2,500,000 Shares | Authorized – 2,500,000 Shares | ||||||||||||||||||||||||||
Outstanding – 1,400,000 Shares | Outstanding – 1,400,000 Shares | 56.6 | 56.6 | Outstanding – 1,400,000 Shares | 56.6 | 56.6 | ||||||||||||||||||||||
Paid-in Capital | Paid-in Capital | 980.9 | 980.9 | Paid-in Capital | 980.9 | 980.9 | ||||||||||||||||||||||
Retained Earnings | Retained Earnings | 1,764.5 | 1,718.7 | Retained Earnings | 1,775.8 | 1,718.7 | ||||||||||||||||||||||
Accumulated Other Comprehensive Income (Loss) | Accumulated Other Comprehensive Income (Loss) | (6.5) | (7.0) | Accumulated Other Comprehensive Income (Loss) | (5.8) | (7.0) | ||||||||||||||||||||||
TOTAL COMMON SHAREHOLDER’S EQUITY | TOTAL COMMON SHAREHOLDER’S EQUITY | 2,795.5 | 2,749.2 | TOTAL COMMON SHAREHOLDER’S EQUITY | 2,807.5 | 2,749.2 | ||||||||||||||||||||||
TOTAL LIABILITIES AND COMMON SHAREHOLDER’S EQUITY | TOTAL LIABILITIES AND COMMON SHAREHOLDER’S EQUITY | $ | 11,694.2 | $ | 11,638.3 | TOTAL LIABILITIES AND COMMON SHAREHOLDER’S EQUITY | $ | 11,905.2 | $ | 11,638.3 | ||||||||||||||||||
Three Months Ended March 31, | Nine Months Ended September 30, | |||||||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | |||||||||||||||||||||||||
OPERATING ACTIVITIES | OPERATING ACTIVITIES | OPERATING ACTIVITIES | ||||||||||||||||||||||||||
Net Income | Net Income | $ | 70.8 | $ | 92.3 | Net Income | $ | 232.1 | $ | 232.8 | ||||||||||||||||||
Adjustments to Reconcile Net Income to Net Cash Flows from Operating Activities: | Adjustments to Reconcile Net Income to Net Cash Flows from Operating Activities: | Adjustments to Reconcile Net Income to Net Cash Flows from Operating Activities: | ||||||||||||||||||||||||||
Depreciation and Amortization | Depreciation and Amortization | 109.2 | 93.9 | Depreciation and Amortization | 328.7 | 303.6 | ||||||||||||||||||||||
Rockport Plant, Unit 2 Operating Lease Amortization | Rockport Plant, Unit 2 Operating Lease Amortization | 16.6 | 17.3 | Rockport Plant, Unit 2 Operating Lease Amortization | 51.1 | 51.9 | ||||||||||||||||||||||
Deferred Income Taxes | Deferred Income Taxes | (12.1) | (16.3) | Deferred Income Taxes | (36.6) | (6.1) | ||||||||||||||||||||||
Amortization of Incremental Nuclear Refueling Outage Expenses, Net | 4.9 | 15.2 | ||||||||||||||||||||||||||
Amortization (Deferral) of Incremental Nuclear Refueling Outage Expenses, Net | Amortization (Deferral) of Incremental Nuclear Refueling Outage Expenses, Net | (2.5) | 21.3 | |||||||||||||||||||||||||
Allowance for Equity Funds Used During Construction | Allowance for Equity Funds Used During Construction | (3.5) | (2.0) | Allowance for Equity Funds Used During Construction | (9.7) | (8.8) | ||||||||||||||||||||||
Mark-to-Market of Risk Management Contracts | Mark-to-Market of Risk Management Contracts | 2.7 | 4.4 | Mark-to-Market of Risk Management Contracts | 0.5 | 5.6 | ||||||||||||||||||||||
Amortization of Nuclear Fuel | Amortization of Nuclear Fuel | 22.7 | 23.4 | Amortization of Nuclear Fuel | 61.9 | 67.2 | ||||||||||||||||||||||
Pension Contributions to Qualified Plan Trust | Pension Contributions to Qualified Plan Trust | — | (6.4) | |||||||||||||||||||||||||
Deferred Fuel Over/Under-Recovery, Net | Deferred Fuel Over/Under-Recovery, Net | (9.3) | 22.5 | Deferred Fuel Over/Under-Recovery, Net | (18.0) | 23.4 | ||||||||||||||||||||||
Change in Other Noncurrent Assets | Change in Other Noncurrent Assets | 2.6 | (2.9) | Change in Other Noncurrent Assets | 7.3 | 40.8 | ||||||||||||||||||||||
Change in Other Noncurrent Liabilities | Change in Other Noncurrent Liabilities | 24.1 | 10.0 | Change in Other Noncurrent Liabilities | (10.2) | 30.2 | ||||||||||||||||||||||
Changes in Certain Components of Working Capital: | Changes in Certain Components of Working Capital: | Changes in Certain Components of Working Capital: | ||||||||||||||||||||||||||
Accounts Receivable, Net | Accounts Receivable, Net | 14.4 | 8.6 | Accounts Receivable, Net | 18.2 | 32.2 | ||||||||||||||||||||||
Fuel, Materials and Supplies | Fuel, Materials and Supplies | 8.8 | (16.2) | Fuel, Materials and Supplies | 43.0 | (15.4) | ||||||||||||||||||||||
Accounts Payable | Accounts Payable | (14.8) | (21.6) | Accounts Payable | 20.1 | (0.9) | ||||||||||||||||||||||
Accrued Taxes, Net | Accrued Taxes, Net | 21.6 | 25.0 | Accrued Taxes, Net | (20.3) | (84.4) | ||||||||||||||||||||||
Rockport Plant, Unit 2 Operating Lease Payments | Rockport Plant, Unit 2 Operating Lease Payments | (36.9) | (36.9) | |||||||||||||||||||||||||
Other Current Assets | Other Current Assets | 5.2 | 18.2 | Other Current Assets | (0.7) | 6.6 | ||||||||||||||||||||||
Other Current Liabilities | Other Current Liabilities | (45.8) | (62.7) | Other Current Liabilities | (28.0) | (59.1) | ||||||||||||||||||||||
Net Cash Flows from Operating Activities | Net Cash Flows from Operating Activities | 218.1 | 209.1 | Net Cash Flows from Operating Activities | 600.0 | 597.6 | ||||||||||||||||||||||
INVESTING ACTIVITIES | INVESTING ACTIVITIES | INVESTING ACTIVITIES | ||||||||||||||||||||||||||
Construction Expenditures | Construction Expenditures | (120.2) | (141.4) | Construction Expenditures | (370.2) | (409.1) | ||||||||||||||||||||||
Change in Advances to Affiliates, Net | Change in Advances to Affiliates, Net | 0 | (0.1) | Change in Advances to Affiliates, Net | (67.3) | (0.1) | ||||||||||||||||||||||
Purchases of Investment Securities | Purchases of Investment Securities | (336.9) | (626.0) | Purchases of Investment Securities | (1,586.3) | (1,290.0) | ||||||||||||||||||||||
Sales of Investment Securities | Sales of Investment Securities | 320.0 | 612.4 | Sales of Investment Securities | 1,556.6 | 1,257.1 | ||||||||||||||||||||||
Acquisitions of Nuclear Fuel | Acquisitions of Nuclear Fuel | (55.9) | (1.3) | Acquisitions of Nuclear Fuel | (63.2) | (68.4) | ||||||||||||||||||||||
Other Investing Activities | Other Investing Activities | 3.2 | 4.2 | Other Investing Activities | 12.9 | 8.3 | ||||||||||||||||||||||
Net Cash Flows Used for Investing Activities | Net Cash Flows Used for Investing Activities | (189.8) | (152.2) | Net Cash Flows Used for Investing Activities | (517.5) | (502.2) | ||||||||||||||||||||||
FINANCING ACTIVITIES | FINANCING ACTIVITIES | FINANCING ACTIVITIES | ||||||||||||||||||||||||||
Issuance of Long-term Debt – Nonaffiliated | Issuance of Long-term Debt – Nonaffiliated | 507.0 | — | |||||||||||||||||||||||||
Change in Advances from Affiliates, Net | Change in Advances from Affiliates, Net | 21.6 | (10.7) | Change in Advances from Affiliates, Net | (103.0) | 44.7 | ||||||||||||||||||||||
Retirement of Long-term Debt – Nonaffiliated | Retirement of Long-term Debt – Nonaffiliated | (24.1) | (23.7) | Retirement of Long-term Debt – Nonaffiliated | (307.2) | (71.1) | ||||||||||||||||||||||
Principal Payments for Finance Lease Obligations | Principal Payments for Finance Lease Obligations | (1.5) | (1.5) | Principal Payments for Finance Lease Obligations | (4.9) | (4.8) | ||||||||||||||||||||||
Dividends Paid on Common Stock | Dividends Paid on Common Stock | (25.0) | (21.3) | Dividends Paid on Common Stock | (175.0) | (63.7) | ||||||||||||||||||||||
Other Financing Activities | Other Financing Activities | 0.2 | 0.1 | Other Financing Activities | 0.5 | 0.3 | ||||||||||||||||||||||
Net Cash Flows Used for Financing Activities | Net Cash Flows Used for Financing Activities | (28.8) | (57.1) | Net Cash Flows Used for Financing Activities | (82.6) | (94.6) | ||||||||||||||||||||||
Net Decrease in Cash and Cash Equivalents | (0.5) | (0.2) | ||||||||||||||||||||||||||
Net Increase (Decrease) in Cash and Cash Equivalents | Net Increase (Decrease) in Cash and Cash Equivalents | (0.1) | 0.8 | |||||||||||||||||||||||||
Cash and Cash Equivalents at Beginning of Period | Cash and Cash Equivalents at Beginning of Period | 3.3 | 2.0 | Cash and Cash Equivalents at Beginning of Period | 3.3 | 2.0 | ||||||||||||||||||||||
Cash and Cash Equivalents at End of Period | Cash and Cash Equivalents at End of Period | $ | 2.8 | $ | 1.8 | Cash and Cash Equivalents at End of Period | $ | 3.2 | $ | 2.8 | ||||||||||||||||||
SUPPLEMENTARY INFORMATION | SUPPLEMENTARY INFORMATION | SUPPLEMENTARY INFORMATION | ||||||||||||||||||||||||||
Cash Paid for Interest, Net of Capitalized Amounts | Cash Paid for Interest, Net of Capitalized Amounts | $ | 42.0 | $ | 44.3 | Cash Paid for Interest, Net of Capitalized Amounts | $ | 93.9 | $ | 97.5 | ||||||||||||||||||
Net Cash Paid for Income Taxes | Net Cash Paid for Income Taxes | 11.8 | 59.7 | |||||||||||||||||||||||||
Noncash Acquisitions Under Finance Leases | Noncash Acquisitions Under Finance Leases | 2.4 | 1.4 | Noncash Acquisitions Under Finance Leases | 3.1 | 1.9 | ||||||||||||||||||||||
Construction Expenditures Included in Current Liabilities as of March 31, | 50.5 | 67.8 | ||||||||||||||||||||||||||
Acquisition of Nuclear Fuel Included in Current Liabilities as of March 31, | 6.7 | 0 | ||||||||||||||||||||||||||
Construction Expenditures Included in Current Liabilities as of September 30, | Construction Expenditures Included in Current Liabilities as of September 30, | 59.0 | 57.6 | |||||||||||||||||||||||||
Acquisition of Nuclear Fuel Included in Current Liabilities as of September 30, | Acquisition of Nuclear Fuel Included in Current Liabilities as of September 30, | 0.3 | 1.0 | |||||||||||||||||||||||||
Expected Reimbursement for Capital Cost of Spent Nuclear Fuel Dry Cask Storage | Expected Reimbursement for Capital Cost of Spent Nuclear Fuel Dry Cask Storage | 0.1 | 1.3 | Expected Reimbursement for Capital Cost of Spent Nuclear Fuel Dry Cask Storage | 0.6 | 2.4 | ||||||||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||||||||||||||||||||||||||||||||
Three Months Ended March 31, | September 30, | September 30, | ||||||||||||||||||||||||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | 2021 | 2020 | |||||||||||||||||||||||||||||||||||||||||
(in millions of KWhs) | (in millions of KWhs) | |||||||||||||||||||||||||||||||||||||||||||||
Retail: | Retail: | Retail: | ||||||||||||||||||||||||||||||||||||||||||||
Residential | Residential | 4,106 | 3,834 | Residential | 4,096 | 4,165 | 11,261 | 11,140 | ||||||||||||||||||||||||||||||||||||||
Commercial | Commercial | 3,502 | 3,516 | Commercial | 4,112 | 3,781 | 11,282 | 10,454 | ||||||||||||||||||||||||||||||||||||||
Industrial | Industrial | 3,401 | 3,543 | Industrial | 3,633 | 3,380 | 10,769 | 9,855 | ||||||||||||||||||||||||||||||||||||||
Miscellaneous | Miscellaneous | 29 | 30 | Miscellaneous | 25 | 22 | 80 | 82 | ||||||||||||||||||||||||||||||||||||||
Total Retail (a) | Total Retail (a) | 11,038 | 10,923 | Total Retail (a) | 11,866 | 11,348 | 33,392 | 31,531 | ||||||||||||||||||||||||||||||||||||||
Wholesale (b) | Wholesale (b) | 603 | 390 | Wholesale (b) | 643 | 502 | 1,691 | 1,347 | ||||||||||||||||||||||||||||||||||||||
Total KWhs | Total KWhs | 11,641 | 11,313 | Total KWhs | 12,509 | 11,850 | 35,083 | 32,878 |
Three Months Ended | Nine Months Ended | |||||||||||||||||||||||||||||||||||||||||||||
Three Months Ended March 31, | September 30, | September 30, | ||||||||||||||||||||||||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | 2021 | 2020 | |||||||||||||||||||||||||||||||||||||||||
(in degree days) | (in degree days) | |||||||||||||||||||||||||||||||||||||||||||||
Actual – Heating (a) | Actual – Heating (a) | 1,777 | 1,473 | Actual – Heating (a) | 1 | 2 | 1,993 | 1,767 | ||||||||||||||||||||||||||||||||||||||
Normal – Heating (b) | Normal – Heating (b) | 1,883 | 1,898 | Normal – Heating (b) | 5 | 6 | 2,071 | 2,086 | ||||||||||||||||||||||||||||||||||||||
Actual – Cooling (c) | Actual – Cooling (c) | — | 3 | Actual – Cooling (c) | 787 | 809 | 1,148 | 1,126 | ||||||||||||||||||||||||||||||||||||||
Normal – Cooling (b) | Normal – Cooling (b) | 3 | 3 | Normal – Cooling (b) | 689 | 682 | 996 | 986 |
Ohio Power Company and Subsidiaries | ||||||||
Reconciliation of | ||||||||
Net Income | ||||||||
(in millions) | ||||||||
$ | ||||||||
Changes in Gross Margin: | ||||||||
Retail Margins | ||||||||
Margins from Off-system Sales | ||||||||
Transmission Revenues | ||||||||
Other Revenues | ||||||||
Total Change in Gross Margin | ||||||||
Changes in Expenses and Other: | ||||||||
Other Operation and Maintenance | ||||||||
Depreciation and Amortization | ||||||||
Taxes Other Than Income Taxes | ||||||||
Interest Income | (0.2) | |||||||
Carrying Costs Income | ||||||||
Allowance for Equity Funds Used During Construction | ||||||||
Non-Service Cost Components of Net Periodic Benefit Cost | (0.1) | |||||||
Interest Expense | ||||||||
Total Change in Expenses and Other | ||||||||
Income Tax Expense | ||||||||
$ |
Ohio Power Company and Subsidiaries | ||||||||
Reconciliation of Nine Months Ended September 30, 2020 to Nine Months Ended September 30, 2021 | ||||||||
Net Income | ||||||||
(in millions) | ||||||||
Nine Months Ended September 30, 2020 | $ | 215.0 | ||||||
Changes in Gross Margin: | ||||||||
Retail Margins | 92.1 | |||||||
Margins from Off-system Sales | (36.0) | |||||||
Transmission Revenues | (4.6) | |||||||
Other Revenues | 20.8 | |||||||
Total Change in Gross Margin | 72.3 | |||||||
Changes in Expenses and Other: | ||||||||
Other Operation and Maintenance | (38.6) | |||||||
Depreciation and Amortization | (24.2) | |||||||
Taxes Other Than Income Taxes | (28.4) | |||||||
Interest Income | (0.3) | |||||||
Carrying Costs Income | (0.2) | |||||||
Allowance for Equity Funds Used During Construction | (1.7) | |||||||
Non-Service Cost Components of Net Periodic Benefit Cost | (0.3) | |||||||
Interest Expense | (7.8) | |||||||
Total Change in Expenses and Other | (101.5) | |||||||
Income Tax Expense | 12.8 | |||||||
Nine Months Ended September 30, 2021 | $ | 198.6 |
Three Months Ended | Nine Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||
Three Months Ended March 31, | September 30, | September 30, | ||||||||||||||||||||||||||||||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | 2021 | 2020 | |||||||||||||||||||||||||||||||||||||||||||||||
REVENUES | REVENUES | REVENUES | ||||||||||||||||||||||||||||||||||||||||||||||||||
Electricity, Transmission and Distribution | Electricity, Transmission and Distribution | $ | 716.7 | $ | 679.2 | Electricity, Transmission and Distribution | $ | 761.0 | $ | 730.4 | $ | 2,167.8 | $ | 2,031.4 | ||||||||||||||||||||||||||||||||||||||
Sales to AEP Affiliates | Sales to AEP Affiliates | 4.8 | 8.4 | Sales to AEP Affiliates | 4.3 | 8.3 | 21.9 | 33.0 | ||||||||||||||||||||||||||||||||||||||||||||
Other Revenues | Other Revenues | 2.4 | 2.7 | Other Revenues | 2.4 | 2.3 | 6.8 | 7.3 | ||||||||||||||||||||||||||||||||||||||||||||
TOTAL REVENUES | TOTAL REVENUES | 723.9 | 690.3 | TOTAL REVENUES | 767.7 | 741.0 | 2,196.5 | 2,071.7 | ||||||||||||||||||||||||||||||||||||||||||||
EXPENSES | EXPENSES | EXPENSES | ||||||||||||||||||||||||||||||||||||||||||||||||||
Purchased Electricity for Resale | Purchased Electricity for Resale | 175.3 | 149.1 | Purchased Electricity for Resale | 184.7 | 149.3 | 513.6 | 412.3 | ||||||||||||||||||||||||||||||||||||||||||||
Purchased Electricity from AEP Affiliates | Purchased Electricity from AEP Affiliates | 30.1 | 42.4 | Purchased Electricity from AEP Affiliates | 3.5 | 24.1 | 48.0 | 96.8 | ||||||||||||||||||||||||||||||||||||||||||||
Other Operation | Other Operation | 184.6 | 177.3 | Other Operation | 245.1 | 244.6 | 622.9 | 608.5 | ||||||||||||||||||||||||||||||||||||||||||||
Maintenance | Maintenance | 38.7 | 31.6 | Maintenance | 39.3 | 33.7 | 116.4 | 92.2 | ||||||||||||||||||||||||||||||||||||||||||||
Depreciation and Amortization | Depreciation and Amortization | 75.1 | 70.5 | Depreciation and Amortization | 76.9 | 74.1 | 228.6 | 204.4 | ||||||||||||||||||||||||||||||||||||||||||||
Taxes Other Than Income Taxes | Taxes Other Than Income Taxes | 121.3 | 112.0 | Taxes Other Than Income Taxes | 126.0 | 117.8 | 366.2 | 337.8 | ||||||||||||||||||||||||||||||||||||||||||||
TOTAL EXPENSES | TOTAL EXPENSES | 625.1 | 582.9 | TOTAL EXPENSES | 675.5 | 643.6 | 1,895.7 | 1,752.0 | ||||||||||||||||||||||||||||||||||||||||||||
OPERATING INCOME | OPERATING INCOME | 98.8 | 107.4 | OPERATING INCOME | 92.2 | 97.4 | 300.8 | 319.7 | ||||||||||||||||||||||||||||||||||||||||||||
Other Income (Expense): | Other Income (Expense): | Other Income (Expense): | ||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Income | Interest Income | 0.2 | 0.2 | Interest Income | 0.2 | 0.4 | 0.5 | 0.8 | ||||||||||||||||||||||||||||||||||||||||||||
Carrying Costs Income | Carrying Costs Income | 0.5 | 0.4 | Carrying Costs Income | 0.1 | 0.3 | 1.1 | 1.3 | ||||||||||||||||||||||||||||||||||||||||||||
Allowance for Equity Funds Used During Construction | Allowance for Equity Funds Used During Construction | 2.7 | 1.9 | Allowance for Equity Funds Used During Construction | 2.0 | 4.6 | 7.6 | 9.3 | ||||||||||||||||||||||||||||||||||||||||||||
Non-Service Cost Components of Net Periodic Benefit Cost | Non-Service Cost Components of Net Periodic Benefit Cost | 3.7 | 3.8 | Non-Service Cost Components of Net Periodic Benefit Cost | 3.7 | 3.8 | 11.0 | 11.3 | ||||||||||||||||||||||||||||||||||||||||||||
Interest Expense | Interest Expense | (31.6) | (28.9) | Interest Expense | (32.9) | (29.4) | (96.2) | (88.4) | ||||||||||||||||||||||||||||||||||||||||||||
INCOME BEFORE INCOME TAX EXPENSE | INCOME BEFORE INCOME TAX EXPENSE | 74.3 | 84.8 | INCOME BEFORE INCOME TAX EXPENSE | 65.3 | 77.1 | 224.8 | 254.0 | ||||||||||||||||||||||||||||||||||||||||||||
Income Tax Expense | Income Tax Expense | 6.1 | 9.7 | Income Tax Expense | 8.9 | 18.1 | 26.2 | 39.0 | ||||||||||||||||||||||||||||||||||||||||||||
NET INCOME | NET INCOME | $ | 68.2 | $ | 75.1 | NET INCOME | $ | 56.4 | $ | 59.0 | $ | 198.6 | $ | 215.0 | ||||||||||||||||||||||||||||||||||||||
The common stock of OPCo is wholly-owned by Parent. | The common stock of OPCo is wholly-owned by Parent. | The common stock of OPCo is wholly-owned by Parent. | ||||||||||||||||||||||||||||||||||||||||||||||||||
Three Months Ended March 31, | ||||||||||||||||||||||||||
2021 | 2020 | |||||||||||||||||||||||||
Net Income | $ | 68.2 | $ | 75.1 | ||||||||||||||||||||||
OTHER COMPREHENSIVE LOSS, NET OF TAXES | ||||||||||||||||||||||||||
Cash Flow Hedges, Net of Tax of $0 and $0 in 2021 and 2020, Respectively | 0 | 0 | ||||||||||||||||||||||||
TOTAL COMPREHENSIVE INCOME | $ | 68.2 | $ | 75.1 | ||||||||||||||||||||||
Common Stock | Paid-in Capital | Retained Earnings | Accumulated Other Comprehensive Income (Loss) | Total | Common Stock | Paid-in Capital | Retained Earnings | Total | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
TOTAL COMMON SHAREHOLDER’S EQUITY – DECEMBER 31, 2019 | TOTAL COMMON SHAREHOLDER’S EQUITY – DECEMBER 31, 2019 | $ | 321.2 | $ | 838.8 | $ | 1,348.5 | $ | 0 | $ | 2,508.5 | TOTAL COMMON SHAREHOLDER’S EQUITY – DECEMBER 31, 2019 | $ | 321.2 | $ | 838.8 | $ | 1,348.5 | $ | 2,508.5 | ||||||||||||||||||||||||||||||||||||||||||||
Common Stock Dividends | Common Stock Dividends | (21.9) | (21.9) | Common Stock Dividends | (21.9) | (21.9) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
ASU 2016-13 Adoption | ASU 2016-13 Adoption | 0.3 | 0.3 | ASU 2016-13 Adoption | 0.3 | 0.3 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net Income | Net Income | 75.1 | 75.1 | Net Income | 75.1 | 75.1 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
TOTAL COMMON SHAREHOLDER’S EQUITY – MARCH 31, 2020 | TOTAL COMMON SHAREHOLDER’S EQUITY – MARCH 31, 2020 | $ | 321.2 | $ | 838.8 | $ | 1,402.0 | $ | 0 | $ | 2,562.0 | TOTAL COMMON SHAREHOLDER’S EQUITY – MARCH 31, 2020 | 321.2 | 838.8 | 1,402.0 | 2,562.0 | ||||||||||||||||||||||||||||||||||||||||||||||||
Common Stock Dividends | Common Stock Dividends | (21.9) | (21.9) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net Income | Net Income | 80.9 | 80.9 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
TOTAL COMMON SHAREHOLDER’S EQUITY – JUNE 30, 2020 | TOTAL COMMON SHAREHOLDER’S EQUITY – JUNE 30, 2020 | 321.2 | 838.8 | 1,461.0 | 2,621.0 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common Stock Dividends | Common Stock Dividends | (21.8) | (21.8) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net Income | Net Income | 59.0 | 59.0 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
TOTAL COMMON SHAREHOLDER’S EQUITY – SEPTEMBER 30, 2020 | TOTAL COMMON SHAREHOLDER’S EQUITY – SEPTEMBER 30, 2020 | $ | 321.2 | $ | 838.8 | $ | 1,498.2 | $ | 2,658.2 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
TOTAL COMMON SHAREHOLDER’S EQUITY – DECEMBER 31, 2020 | TOTAL COMMON SHAREHOLDER’S EQUITY – DECEMBER 31, 2020 | $ | 321.2 | $ | 838.8 | $ | 1,532.7 | $ | 0 | $ | 2,692.7 | TOTAL COMMON SHAREHOLDER’S EQUITY – DECEMBER 31, 2020 | $ | 321.2 | $ | 838.8 | $ | 1,532.7 | $ | 2,692.7 | ||||||||||||||||||||||||||||||||||||||||||||
Common Stock Dividends | Common Stock Dividends | (21.9) | (21.9) | Common Stock Dividends | (21.9) | (21.9) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net Income | Net Income | 68.2 | 68.2 | Net Income | 68.2 | 68.2 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
TOTAL COMMON SHAREHOLDER’S EQUITY – MARCH 31, 2021 | TOTAL COMMON SHAREHOLDER’S EQUITY – MARCH 31, 2021 | $ | 321.2 | $ | 838.8 | $ | 1,579.0 | $ | 0 | $ | 2,739.0 | TOTAL COMMON SHAREHOLDER’S EQUITY – MARCH 31, 2021 | 321.2 | 838.8 | 1,579.0 | 2,739.0 | ||||||||||||||||||||||||||||||||||||||||||||||||
Common Stock Dividends | Common Stock Dividends | (21.9) | (21.9) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net Income | Net Income | 74.0 | 74.0 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
TOTAL COMMON SHAREHOLDER’S EQUITY – JUNE 30, 2021 | TOTAL COMMON SHAREHOLDER’S EQUITY – JUNE 30, 2021 | 321.2 | 838.8 | 1,631.1 | 2,791.1 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common Stock Dividends | Common Stock Dividends | (28.1) | (28.1) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net Income | Net Income | 56.4 | 56.4 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
TOTAL COMMON SHAREHOLDER’S EQUITY – SEPTEMBER 30, 2021 | TOTAL COMMON SHAREHOLDER’S EQUITY – SEPTEMBER 30, 2021 | $ | 321.2 | $ | 838.8 | $ | 1,659.4 | $ | 2,819.4 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
March 31, | December 31, | September 30, | December 31, | |||||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | |||||||||||||||||||||||||
CURRENT ASSETS | CURRENT ASSETS | CURRENT ASSETS | ||||||||||||||||||||||||||
Cash and Cash Equivalents | Cash and Cash Equivalents | $ | 6.1 | $ | 7.4 | Cash and Cash Equivalents | $ | 6.8 | $ | 7.4 | ||||||||||||||||||
Advances to Affiliates | Advances to Affiliates | 0.5 | 0 | Advances to Affiliates | 622.9 | — | ||||||||||||||||||||||
Accounts Receivable: | Accounts Receivable: | Accounts Receivable: | ||||||||||||||||||||||||||
Customers | Customers | 66.1 | 50.0 | Customers | 31.0 | 50.0 | ||||||||||||||||||||||
Affiliated Companies | Affiliated Companies | 78.3 | 65.1 | Affiliated Companies | 64.7 | 65.1 | ||||||||||||||||||||||
Accrued Unbilled Revenues | Accrued Unbilled Revenues | 15.3 | 14.8 | Accrued Unbilled Revenues | 15.3 | 14.8 | ||||||||||||||||||||||
Miscellaneous | Miscellaneous | 7.2 | 3.9 | Miscellaneous | 5.8 | 3.9 | ||||||||||||||||||||||
Allowance for Uncollectible Accounts | Allowance for Uncollectible Accounts | (0.7) | (0.6) | Allowance for Uncollectible Accounts | (0.6) | (0.6) | ||||||||||||||||||||||
Total Accounts Receivable | Total Accounts Receivable | 166.2 | 133.2 | Total Accounts Receivable | 116.2 | 133.2 | ||||||||||||||||||||||
Materials and Supplies | Materials and Supplies | 67.3 | 66.9 | Materials and Supplies | 70.9 | 66.9 | ||||||||||||||||||||||
Renewable Energy Credits | Renewable Energy Credits | 32.0 | 29.5 | Renewable Energy Credits | 31.1 | 29.5 | ||||||||||||||||||||||
Prepayments and Other Current Assets | Prepayments and Other Current Assets | 22.4 | 19.3 | Prepayments and Other Current Assets | 29.6 | 19.3 | ||||||||||||||||||||||
TOTAL CURRENT ASSETS | TOTAL CURRENT ASSETS | 294.5 | 256.3 | TOTAL CURRENT ASSETS | 877.5 | 256.3 | ||||||||||||||||||||||
PROPERTY, PLANT AND EQUIPMENT | PROPERTY, PLANT AND EQUIPMENT | PROPERTY, PLANT AND EQUIPMENT | ||||||||||||||||||||||||||
Electric: | Electric: | Electric: | ||||||||||||||||||||||||||
Transmission | Transmission | 2,862.7 | 2,831.9 | Transmission | 2,936.3 | 2,831.9 | ||||||||||||||||||||||
Distribution | Distribution | 5,806.3 | 5,708.3 | Distribution | 5,989.2 | 5,708.3 | ||||||||||||||||||||||
Other Property, Plant and Equipment | Other Property, Plant and Equipment | 938.3 | 899.6 | Other Property, Plant and Equipment | 979.9 | 899.6 | ||||||||||||||||||||||
Construction Work in Progress | Construction Work in Progress | 343.8 | 362.3 | Construction Work in Progress | 331.7 | 362.3 | ||||||||||||||||||||||
Total Property, Plant and Equipment | Total Property, Plant and Equipment | 9,951.1 | 9,802.1 | Total Property, Plant and Equipment | 10,237.1 | 9,802.1 | ||||||||||||||||||||||
Accumulated Depreciation and Amortization | Accumulated Depreciation and Amortization | 2,385.4 | 2,350.0 | Accumulated Depreciation and Amortization | 2,438.7 | 2,350.0 | ||||||||||||||||||||||
TOTAL PROPERTY, PLANT AND EQUIPMENT – NET | TOTAL PROPERTY, PLANT AND EQUIPMENT – NET | 7,565.7 | 7,452.1 | TOTAL PROPERTY, PLANT AND EQUIPMENT – NET | 7,798.4 | 7,452.1 | ||||||||||||||||||||||
OTHER NONCURRENT ASSETS | OTHER NONCURRENT ASSETS | OTHER NONCURRENT ASSETS | ||||||||||||||||||||||||||
Regulatory Assets | Regulatory Assets | 392.3 | 385.8 | Regulatory Assets | 343.8 | 385.8 | ||||||||||||||||||||||
Operating Lease Assets | Operating Lease Assets | 84.2 | 92.0 | |||||||||||||||||||||||||
Deferred Charges and Other Noncurrent Assets | Deferred Charges and Other Noncurrent Assets | 536.2 | 616.2 | Deferred Charges and Other Noncurrent Assets | 292.4 | 524.2 | ||||||||||||||||||||||
TOTAL OTHER NONCURRENT ASSETS | TOTAL OTHER NONCURRENT ASSETS | 928.5 | 1,002.0 | TOTAL OTHER NONCURRENT ASSETS | 720.4 | 1,002.0 | ||||||||||||||||||||||
TOTAL ASSETS | TOTAL ASSETS | $ | 8,788.7 | $ | 8,710.4 | TOTAL ASSETS | $ | 9,396.3 | $ | 8,710.4 | ||||||||||||||||||
September 30, | December 31, | |||||||||||||||||||||||||||
March 31, | December 31, | 2021 | 2020 | |||||||||||||||||||||||||
2021 | 2020 | (in millions) | ||||||||||||||||||||||||||
CURRENT LIABILITIES | CURRENT LIABILITIES | CURRENT LIABILITIES | ||||||||||||||||||||||||||
Advances from Affiliates | Advances from Affiliates | $ | 0 | $ | 259.2 | Advances from Affiliates | $ | — | $ | 259.2 | ||||||||||||||||||
Accounts Payable: | Accounts Payable: | Accounts Payable: | ||||||||||||||||||||||||||
General | General | 174.5 | 181.0 | General | 169.0 | 181.0 | ||||||||||||||||||||||
Affiliated Companies | Affiliated Companies | 117.7 | 118.4 | Affiliated Companies | 101.5 | 118.4 | ||||||||||||||||||||||
Long-term Debt Due Within One Year – Nonaffiliated | Long-term Debt Due Within One Year – Nonaffiliated | 500.1 | 500.1 | Long-term Debt Due Within One Year – Nonaffiliated | 500.1 | 500.1 | ||||||||||||||||||||||
Risk Management Liabilities | Risk Management Liabilities | 8.1 | 8.7 | Risk Management Liabilities | 3.5 | 8.7 | ||||||||||||||||||||||
Customer Deposits | Customer Deposits | 54.3 | 55.1 | Customer Deposits | 123.5 | 55.1 | ||||||||||||||||||||||
Accrued Taxes | Accrued Taxes | 484.7 | 631.0 | Accrued Taxes | 344.8 | 631.0 | ||||||||||||||||||||||
Obligations Under Operating Leases | Obligations Under Operating Leases | 13.1 | 13.1 | Obligations Under Operating Leases | 13.1 | 13.1 | ||||||||||||||||||||||
Other Current Liabilities | Other Current Liabilities | 132.0 | 139.6 | Other Current Liabilities | 149.6 | 139.6 | ||||||||||||||||||||||
TOTAL CURRENT LIABILITIES | TOTAL CURRENT LIABILITIES | 1,484.5 | 1,906.2 | TOTAL CURRENT LIABILITIES | 1,405.1 | 1,906.2 | ||||||||||||||||||||||
NONCURRENT LIABILITIES | NONCURRENT LIABILITIES | NONCURRENT LIABILITIES | ||||||||||||||||||||||||||
Long-term Debt – Nonaffiliated | Long-term Debt – Nonaffiliated | 2,376.2 | 1,930.1 | Long-term Debt – Nonaffiliated | 2,968.0 | 1,930.1 | ||||||||||||||||||||||
Long-term Risk Management Liabilities | Long-term Risk Management Liabilities | 95.9 | 101.6 | Long-term Risk Management Liabilities | 86.9 | 101.6 | ||||||||||||||||||||||
Deferred Income Taxes | Deferred Income Taxes | 968.8 | 955.1 | Deferred Income Taxes | 1,010.7 | 955.1 | ||||||||||||||||||||||
Regulatory Liabilities and Deferred Investment Tax Credits | Regulatory Liabilities and Deferred Investment Tax Credits | 1,008.4 | 1,005.2 | Regulatory Liabilities and Deferred Investment Tax Credits | 995.7 | 1,005.2 | ||||||||||||||||||||||
Obligations Under Operating Leases | Obligations Under Operating Leases | 77.0 | 79.5 | Obligations Under Operating Leases | 71.6 | 79.5 | ||||||||||||||||||||||
Deferred Credits and Other Noncurrent Liabilities | Deferred Credits and Other Noncurrent Liabilities | 38.9 | 40.0 | Deferred Credits and Other Noncurrent Liabilities | 38.9 | 40.0 | ||||||||||||||||||||||
TOTAL NONCURRENT LIABILITIES | TOTAL NONCURRENT LIABILITIES | 4,565.2 | 4,111.5 | TOTAL NONCURRENT LIABILITIES | 5,171.8 | 4,111.5 | ||||||||||||||||||||||
TOTAL LIABILITIES | TOTAL LIABILITIES | 6,049.7 | 6,017.7 | TOTAL LIABILITIES | 6,576.9 | 6,017.7 | ||||||||||||||||||||||
Rate Matters (Note 4) | Rate Matters (Note 4) | 0 | 0 | Rate Matters (Note 4) | 0 | 0 | ||||||||||||||||||||||
Commitments and Contingencies (Note 5) | Commitments and Contingencies (Note 5) | 0 | 0 | Commitments and Contingencies (Note 5) | 0 | 0 | ||||||||||||||||||||||
COMMON SHAREHOLDER’S EQUITY | COMMON SHAREHOLDER’S EQUITY | COMMON SHAREHOLDER’S EQUITY | ||||||||||||||||||||||||||
Common Stock –NaN Par Value: | ||||||||||||||||||||||||||||
Common Stock –No Par Value: | Common Stock –No Par Value: | |||||||||||||||||||||||||||
Authorized – 40,000,000 Shares | Authorized – 40,000,000 Shares | Authorized – 40,000,000 Shares | ||||||||||||||||||||||||||
Outstanding – 27,952,473 Shares | Outstanding – 27,952,473 Shares | 321.2 | 321.2 | Outstanding – 27,952,473 Shares | 321.2 | 321.2 | ||||||||||||||||||||||
Paid-in Capital | Paid-in Capital | 838.8 | 838.8 | Paid-in Capital | 838.8 | 838.8 | ||||||||||||||||||||||
Retained Earnings | Retained Earnings | 1,579.0 | 1,532.7 | Retained Earnings | 1,659.4 | 1,532.7 | ||||||||||||||||||||||
TOTAL COMMON SHAREHOLDER’S EQUITY | TOTAL COMMON SHAREHOLDER’S EQUITY | 2,739.0 | 2,692.7 | TOTAL COMMON SHAREHOLDER’S EQUITY | 2,819.4 | 2,692.7 | ||||||||||||||||||||||
TOTAL LIABILITIES AND COMMON SHAREHOLDER’S EQUITY | TOTAL LIABILITIES AND COMMON SHAREHOLDER’S EQUITY | $ | 8,788.7 | $ | 8,710.4 | TOTAL LIABILITIES AND COMMON SHAREHOLDER’S EQUITY | $ | 9,396.3 | $ | 8,710.4 | ||||||||||||||||||
Three Months Ended March 31, | Nine Months Ended September 30, | |||||||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | |||||||||||||||||||||||||
OPERATING ACTIVITIES | OPERATING ACTIVITIES | OPERATING ACTIVITIES | ||||||||||||||||||||||||||
Net Income | Net Income | $ | 68.2 | $ | 75.1 | Net Income | $ | 198.6 | $ | 215.0 | ||||||||||||||||||
Adjustments to Reconcile Net Income to Net Cash Flows from Operating Activities: | Adjustments to Reconcile Net Income to Net Cash Flows from Operating Activities: | Adjustments to Reconcile Net Income to Net Cash Flows from Operating Activities: | ||||||||||||||||||||||||||
Depreciation and Amortization | Depreciation and Amortization | 75.1 | 70.5 | Depreciation and Amortization | 228.6 | 204.4 | ||||||||||||||||||||||
Deferred Income Taxes | Deferred Income Taxes | 4.5 | 12.9 | Deferred Income Taxes | 29.3 | 35.6 | ||||||||||||||||||||||
Allowance for Equity Funds Used During Construction | Allowance for Equity Funds Used During Construction | (2.7) | (1.9) | Allowance for Equity Funds Used During Construction | (7.6) | (9.3) | ||||||||||||||||||||||
Mark-to-Market of Risk Management Contracts | Mark-to-Market of Risk Management Contracts | (6.3) | 17.3 | Mark-to-Market of Risk Management Contracts | (19.9) | 9.7 | ||||||||||||||||||||||
Property Taxes | Property Taxes | 78.3 | 74.4 | Property Taxes | 234.9 | 225.1 | ||||||||||||||||||||||
Change in Other Noncurrent Assets | Change in Other Noncurrent Assets | (20.9) | (61.5) | Change in Other Noncurrent Assets | (1.1) | (93.8) | ||||||||||||||||||||||
Change in Other Noncurrent Liabilities | Change in Other Noncurrent Liabilities | 3.8 | (36.4) | Change in Other Noncurrent Liabilities | 4.6 | (58.3) | ||||||||||||||||||||||
Changes in Certain Components of Working Capital: | Changes in Certain Components of Working Capital: | Changes in Certain Components of Working Capital: | ||||||||||||||||||||||||||
Accounts Receivable, Net | Accounts Receivable, Net | (31.8) | (19.9) | Accounts Receivable, Net | 20.7 | 33.4 | ||||||||||||||||||||||
Materials and Supplies | Materials and Supplies | (3.7) | (10.2) | Materials and Supplies | (0.6) | (19.8) | ||||||||||||||||||||||
Accounts Payable | Accounts Payable | (6.4) | 35.5 | Accounts Payable | (19.1) | (19.9) | ||||||||||||||||||||||
Customer Deposits | Customer Deposits | 68.4 | 12.4 | |||||||||||||||||||||||||
Accrued Taxes, Net | Accrued Taxes, Net | (144.7) | (141.9) | Accrued Taxes, Net | (289.7) | (266.2) | ||||||||||||||||||||||
Other Current Assets | Other Current Assets | (0.2) | (2.0) | Other Current Assets | (7.8) | (2.5) | ||||||||||||||||||||||
Other Current Liabilities | Other Current Liabilities | (2.0) | (8.4) | Other Current Liabilities | 5.8 | (35.7) | ||||||||||||||||||||||
Net Cash Flows from Operating Activities | Net Cash Flows from Operating Activities | 11.2 | 3.5 | Net Cash Flows from Operating Activities | 445.1 | 230.1 | ||||||||||||||||||||||
INVESTING ACTIVITIES | INVESTING ACTIVITIES | INVESTING ACTIVITIES | ||||||||||||||||||||||||||
Construction Expenditures | Construction Expenditures | (178.2) | (232.8) | Construction Expenditures | (536.6) | (604.6) | ||||||||||||||||||||||
Change in Advances to Affiliates, Net | Change in Advances to Affiliates, Net | (0.5) | 0 | Change in Advances to Affiliates, Net | (622.9) | — | ||||||||||||||||||||||
Other Investing Activities | Other Investing Activities | 2.6 | 5.9 | Other Investing Activities | 10.7 | 14.1 | ||||||||||||||||||||||
Net Cash Flows Used for Investing Activities | Net Cash Flows Used for Investing Activities | (176.1) | (226.9) | Net Cash Flows Used for Investing Activities | (1,148.8) | (590.5) | ||||||||||||||||||||||
FINANCING ACTIVITIES | FINANCING ACTIVITIES | FINANCING ACTIVITIES | ||||||||||||||||||||||||||
Issuance of Long-term Debt – Nonaffiliated | Issuance of Long-term Debt – Nonaffiliated | 445.8 | 347.1 | Issuance of Long-term Debt – Nonaffiliated | 1,037.5 | 347.0 | ||||||||||||||||||||||
Change in Advances from Affiliates, Net | Change in Advances from Affiliates, Net | (259.2) | (101.6) | Change in Advances from Affiliates, Net | (259.2) | 84.9 | ||||||||||||||||||||||
Retirement of Long-term Debt – Nonaffiliated | Retirement of Long-term Debt – Nonaffiliated | (0.1) | (0.1) | |||||||||||||||||||||||||
Principal Payments for Finance Lease Obligations | Principal Payments for Finance Lease Obligations | (1.2) | (1.2) | Principal Payments for Finance Lease Obligations | (3.7) | (3.5) | ||||||||||||||||||||||
Dividends Paid on Common Stock | Dividends Paid on Common Stock | (21.9) | (21.9) | Dividends Paid on Common Stock | (71.9) | (65.6) | ||||||||||||||||||||||
Other Financing Activities | Other Financing Activities | 0.1 | 0.4 | Other Financing Activities | 0.5 | 0.6 | ||||||||||||||||||||||
Net Cash Flows from Financing Activities | Net Cash Flows from Financing Activities | 163.6 | 222.8 | Net Cash Flows from Financing Activities | 703.1 | 363.3 | ||||||||||||||||||||||
Net Decrease in Cash and Cash Equivalents | (1.3) | (0.6) | ||||||||||||||||||||||||||
Net Increase (Decrease) in Cash and Cash Equivalents | Net Increase (Decrease) in Cash and Cash Equivalents | (0.6) | 2.9 | |||||||||||||||||||||||||
Cash and Cash Equivalents at Beginning of Period | Cash and Cash Equivalents at Beginning of Period | 7.4 | 3.7 | Cash and Cash Equivalents at Beginning of Period | 7.4 | 3.7 | ||||||||||||||||||||||
Cash and Cash Equivalents at End of Period | Cash and Cash Equivalents at End of Period | $ | 6.1 | $ | 3.1 | Cash and Cash Equivalents at End of Period | $ | 6.8 | $ | 6.6 | ||||||||||||||||||
SUPPLEMENTARY INFORMATION | SUPPLEMENTARY INFORMATION | SUPPLEMENTARY INFORMATION | ||||||||||||||||||||||||||
Cash Paid for Interest, Net of Capitalized Amounts | Cash Paid for Interest, Net of Capitalized Amounts | $ | 15.8 | $ | 16.7 | Cash Paid for Interest, Net of Capitalized Amounts | $ | 78.6 | $ | 69.7 | ||||||||||||||||||
Net Cash Paid (Received) for Income Taxes | Net Cash Paid (Received) for Income Taxes | 0.3 | (6.0) | |||||||||||||||||||||||||
Noncash Acquisitions Under Finance Leases | Noncash Acquisitions Under Finance Leases | 1.4 | 5.2 | |||||||||||||||||||||||||
Construction Expenditures Included in Current Liabilities as of September 30, | Construction Expenditures Included in Current Liabilities as of September 30, | 66.5 | 75.9 | |||||||||||||||||||||||||
Noncash Acquisitions Under Finance Leases | 0.4 | 4.3 | ||||||||||||||||||||||||||
Construction Expenditures Included in Current Liabilities as of March 31, | 72.4 | 72.9 | ||||||||||||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||||||||||||||||||||||||||||||||
Three Months Ended March 31, | September 30, | September 30, | ||||||||||||||||||||||||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | 2021 | 2020 | |||||||||||||||||||||||||||||||||||||||||
(in millions of KWhs) | (in millions of KWhs) | |||||||||||||||||||||||||||||||||||||||||||||
Retail: | Retail: | Retail: | ||||||||||||||||||||||||||||||||||||||||||||
Residential | Residential | 1,577 | 1,362 | Residential | 2,179 | 2,019 | 5,068 | 4,838 | ||||||||||||||||||||||||||||||||||||||
Commercial | Commercial | 1,050 | 1,055 | Commercial | 1,476 | 1,358 | 3,781 | 3,549 | ||||||||||||||||||||||||||||||||||||||
Industrial | Industrial | 1,304 | 1,437 | Industrial | 1,566 | 1,461 | 4,383 | 4,299 | ||||||||||||||||||||||||||||||||||||||
Miscellaneous | Miscellaneous | 270 | 272 | Miscellaneous | 355 | 347 | 935 | 912 | ||||||||||||||||||||||||||||||||||||||
Total Retail | Total Retail | 4,201 | 4,126 | Total Retail | 5,576 | 5,185 | 14,167 | 13,598 | ||||||||||||||||||||||||||||||||||||||
Wholesale | Wholesale | 67 | 53 | Wholesale | 162 | 130 | 350 | 261 | ||||||||||||||||||||||||||||||||||||||
Total KWhs | Total KWhs | 4,268 | 4,179 | Total KWhs | 5,738 | 5,315 | 14,517 | 13,859 |
Three Months Ended | Nine Months Ended | |||||||||||||||||||||||||||||||||||||||||||||
Three Months Ended March 31, | September 30, | September 30, | ||||||||||||||||||||||||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | 2021 | 2020 | |||||||||||||||||||||||||||||||||||||||||
(in degree days) | (in degree days) | |||||||||||||||||||||||||||||||||||||||||||||
Actual – Heating (a) | Actual – Heating (a) | 1,150 | 799 | Actual – Heating (a) | — | 1 | 1,195 | 874 | ||||||||||||||||||||||||||||||||||||||
Normal – Heating (b) | Normal – Heating (b) | 1,033 | 1,034 | Normal – Heating (b) | 1 | 1 | 1,078 | 1,078 | ||||||||||||||||||||||||||||||||||||||
Actual – Cooling (c) | Actual – Cooling (c) | 7 | 33 | Actual – Cooling (c) | 1,491 | 1,274 | 2,075 | 1,979 | ||||||||||||||||||||||||||||||||||||||
Normal – Cooling (b) | Normal – Cooling (b) | 17 | 17 | Normal – Cooling (b) | 1,404 | 1,412 | 2,079 | 2,088 |
Public Service Company of Oklahoma | ||||||||
Reconciliation of | ||||||||
Net | ||||||||
(in millions) | ||||||||
$ | ||||||||
Changes in Gross Margin: | ||||||||
Retail Margins (a) | ||||||||
Margins from Off-system Sales | ||||||||
Transmission Revenues | ||||||||
Other Revenues | ||||||||
Total Change in Gross Margin | ||||||||
Changes in Expenses and Other: | ||||||||
Other Operation and Maintenance | ||||||||
Depreciation and Amortization | ||||||||
Interest Income | 1.3 | |||||||
Allowance for Equity Funds Used During Construction | ||||||||
Interest Expense | ||||||||
Total Change in Expenses and Other | ||||||||
Income Tax Expense | ||||||||
$ |
Public Service Company of Oklahoma | ||||||||
Reconciliation of Nine Months Ended September 30, 2020 to Nine Months Ended September 30, 2021 | ||||||||
Net Income | ||||||||
(in millions) | ||||||||
Nine Months Ended September 30, 2020 | $ | 116.4 | ||||||
Changes in Gross Margin: | ||||||||
Retail Margins (a) | 46.8 | |||||||
Margin from Off-system Sales | (0.6) | |||||||
Transmission Revenues | 5.3 | |||||||
Other Revenues | (5.7) | |||||||
Total Change in Gross Margin | 45.8 | |||||||
Changes in Expenses and Other: | ||||||||
Other Operation and Maintenance | (13.4) | |||||||
Depreciation and Amortization | (19.2) | |||||||
Taxes Other Than Income Taxes | (1.3) | |||||||
Interest Income | 2.9 | |||||||
Allowance for Equity Funds Used During Construction | (1.7) | |||||||
Non-Service Cost Components of Net Periodic Benefit Cost | 0.1 | |||||||
Interest Expense | 1.2 | |||||||
Total Change in Expenses and Other | (31.4) | |||||||
Income Tax Expense | 5.8 | |||||||
Nine Months Ended September 30, 2021 | $ | 136.6 |
Three Months Ended March 31, | Three Months Ended | Nine Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||
September 30, | September 30, | |||||||||||||||||||||||||||||||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | 2021 | 2020 | |||||||||||||||||||||||||||||||||||||||||||||||
REVENUES | REVENUES | REVENUES | ||||||||||||||||||||||||||||||||||||||||||||||||||
Electric Generation, Transmission and Distribution | Electric Generation, Transmission and Distribution | $ | 293.6 | $ | 295.4 | Electric Generation, Transmission and Distribution | $ | 481.3 | $ | 379.8 | $ | 1,117.4 | $ | 976.3 | ||||||||||||||||||||||||||||||||||||||
Sales to AEP Affiliates | Sales to AEP Affiliates | 1.0 | 1.1 | Sales to AEP Affiliates | 1.0 | 1.4 | 3.1 | 3.8 | ||||||||||||||||||||||||||||||||||||||||||||
Other Revenues | Other Revenues | 1.5 | 0.8 | Other Revenues | 1.5 | 1.0 | 3.9 | 8.0 | ||||||||||||||||||||||||||||||||||||||||||||
TOTAL REVENUES | TOTAL REVENUES | 296.1 | 297.3 | TOTAL REVENUES | 483.8 | 382.2 | 1,124.4 | 988.1 | ||||||||||||||||||||||||||||||||||||||||||||
EXPENSES | EXPENSES | EXPENSES | ||||||||||||||||||||||||||||||||||||||||||||||||||
Purchased Electricity, Fuel and Other Consumables Used for Electric Generation | Purchased Electricity, Fuel and Other Consumables Used for Electric Generation | 120.9 | 127.3 | Purchased Electricity, Fuel and Other Consumables Used for Electric Generation | 195.9 | 125.6 | 440.8 | 350.3 | ||||||||||||||||||||||||||||||||||||||||||||
Other Operation | Other Operation | 79.1 | 87.2 | Other Operation | 102.3 | 91.7 | 262.7 | 248.5 | ||||||||||||||||||||||||||||||||||||||||||||
Maintenance | Maintenance | 24.4 | 24.4 | Maintenance | 21.2 | 19.9 | 68.1 | 68.9 | ||||||||||||||||||||||||||||||||||||||||||||
Depreciation and Amortization | Depreciation and Amortization | 49.9 | 44.7 | Depreciation and Amortization | 48.9 | 40.1 | 149.0 | 129.8 | ||||||||||||||||||||||||||||||||||||||||||||
Taxes Other Than Income Taxes | Taxes Other Than Income Taxes | 12.5 | 11.3 | Taxes Other Than Income Taxes | 12.1 | 12.1 | 37.1 | 35.8 | ||||||||||||||||||||||||||||||||||||||||||||
TOTAL EXPENSES | TOTAL EXPENSES | 286.8 | 294.9 | TOTAL EXPENSES | 380.4 | 289.4 | 957.7 | 833.3 | ||||||||||||||||||||||||||||||||||||||||||||
OPERATING INCOME | OPERATING INCOME | 9.3 | 2.4 | OPERATING INCOME | 103.4 | 92.8 | 166.7 | 154.8 | ||||||||||||||||||||||||||||||||||||||||||||
Other Income (Expense): | Other Income (Expense): | Other Income (Expense): | ||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Income | Interest Income | 0.1 | 0.1 | Interest Income | 1.3 | — | 3.0 | 0.1 | ||||||||||||||||||||||||||||||||||||||||||||
Allowance for Equity Funds Used During Construction | Allowance for Equity Funds Used During Construction | 0.4 | 1.0 | Allowance for Equity Funds Used During Construction | 0.5 | 1.3 | 1.5 | 3.2 | ||||||||||||||||||||||||||||||||||||||||||||
Non-Service Cost Components of Net Periodic Benefit Cost | Non-Service Cost Components of Net Periodic Benefit Cost | 2.1 | 2.1 | Non-Service Cost Components of Net Periodic Benefit Cost | 2.1 | 2.1 | 6.4 | 6.3 | ||||||||||||||||||||||||||||||||||||||||||||
Interest Expense | Interest Expense | (14.4) | (15.8) | Interest Expense | (16.2) | (14.6) | (44.7) | (45.9) | ||||||||||||||||||||||||||||||||||||||||||||
LOSS BEFORE INCOME TAX EXPENSE | (2.5) | (10.2) | ||||||||||||||||||||||||||||||||||||||||||||||||||
INCOME BEFORE INCOME TAX EXPENSE (BENEFIT) | INCOME BEFORE INCOME TAX EXPENSE (BENEFIT) | 91.1 | 81.6 | 132.9 | 118.5 | |||||||||||||||||||||||||||||||||||||||||||||||
Income Tax Expense | 0.2 | 0.1 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Income Tax Expense (Benefit) | Income Tax Expense (Benefit) | (2.1) | 1.3 | (3.7) | 2.1 | |||||||||||||||||||||||||||||||||||||||||||||||
NET LOSS | $ | (2.7) | $ | (10.3) | ||||||||||||||||||||||||||||||||||||||||||||||||
NET INCOME | NET INCOME | $ | 93.2 | $ | 80.3 | $ | 136.6 | $ | 116.4 | |||||||||||||||||||||||||||||||||||||||||||
The common stock of PSO is wholly-owned by Parent. | The common stock of PSO is wholly-owned by Parent. | The common stock of PSO is wholly-owned by Parent. | ||||||||||||||||||||||||||||||||||||||||||||||||||
Three Months Ended March 31, | ||||||||||||||||||||||||||
2021 | 2020 | |||||||||||||||||||||||||
Net Loss | $ | (2.7) | $ | (10.3) | ||||||||||||||||||||||
OTHER COMPREHENSIVE LOSS, NET OF TAXES | ||||||||||||||||||||||||||
Cash Flow Hedges, Net of Tax of $0 and $(0.1) in 2021 and 2020, Respectively | (0.1) | (0.2) | ||||||||||||||||||||||||
TOTAL COMPREHENSIVE LOSS | $ | (2.8) | $ | (10.5) | ||||||||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||||||||||||
September 30, | September 30, | |||||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | |||||||||||||||||||||||
Net Income | $ | 93.2 | $ | 80.3 | $ | 136.6 | $ | 116.4 | ||||||||||||||||||
OTHER COMPREHENSIVE LOSS, NET OF TAXES | ||||||||||||||||||||||||||
Cash Flow Hedges, Net of Tax of $0 and $0 for the Three Months Ended September 30, 2021 and 2020, Respectively, and $0 and $(0.2) for the Nine Months Ended September 30, 2021 and 2020, Respectively. | — | (0.3) | (0.1) | (0.8) | ||||||||||||||||||||||
TOTAL COMPREHENSIVE INCOME | $ | 93.2 | $ | 80.0 | $ | 136.5 | $ | 115.6 | ||||||||||||||||||
Common Stock | Paid-in Capital | Retained Earnings | Accumulated Other Comprehensive Income (Loss) | Total | Common Stock | Paid-in Capital | Retained Earnings | Accumulated Other Comprehensive Income (Loss) | Total | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
TOTAL COMMON SHAREHOLDER’S EQUITY – DECEMBER 31, 2019 | TOTAL COMMON SHAREHOLDER’S EQUITY – DECEMBER 31, 2019 | $ | 157.2 | $ | 364.0 | $ | 851.0 | $ | 1.1 | $ | 1,373.3 | TOTAL COMMON SHAREHOLDER’S EQUITY – DECEMBER 31, 2019 | $ | 157.2 | $ | 364.0 | $ | 851.0 | $ | 1.1 | $ | 1,373.3 | ||||||||||||||||||||||||||||||||||||||||||
ASU 2016-13 Adoption | ASU 2016-13 Adoption | 0.3 | 0.3 | ASU 2016-13 Adoption | 0.3 | 0.3 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net Loss | Net Loss | (10.3) | (10.3) | Net Loss | (10.3) | (10.3) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Comprehensive Loss | Other Comprehensive Loss | (0.2) | (0.2) | Other Comprehensive Loss | (0.2) | (0.2) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
TOTAL COMMON SHAREHOLDER’S EQUITY – MARCH 31, 2020 | TOTAL COMMON SHAREHOLDER’S EQUITY – MARCH 31, 2020 | $ | 157.2 | $ | 364.0 | $ | 841.0 | $ | 0.9 | $ | 1,363.1 | TOTAL COMMON SHAREHOLDER’S EQUITY – MARCH 31, 2020 | 157.2 | 364.0 | 841.0 | 0.9 | 1,363.1 | |||||||||||||||||||||||||||||||||||||||||||||||
Net Income | Net Income | 46.4 | 46.4 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Comprehensive Loss | Other Comprehensive Loss | (0.3) | (0.3) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
TOTAL COMMON SHAREHOLDER’S EQUITY – JUNE 30, 2020 | TOTAL COMMON SHAREHOLDER’S EQUITY – JUNE 30, 2020 | 157.2 | 364.0 | 887.4 | 0.6 | 1,409.2 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net Income | Net Income | 80.3 | 80.3 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Comprehensive Loss | Other Comprehensive Loss | (0.3) | (0.3) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
TOTAL COMMON SHAREHOLDER’S EQUITY – SEPTEMBER 30, 2020 | TOTAL COMMON SHAREHOLDER’S EQUITY – SEPTEMBER 30, 2020 | $ | 157.2 | $ | 364.0 | $ | 967.7 | $ | 0.3 | $ | 1,489.2 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
TOTAL COMMON SHAREHOLDER’S EQUITY – DECEMBER 31, 2020 | TOTAL COMMON SHAREHOLDER’S EQUITY – DECEMBER 31, 2020 | $ | 157.2 | $ | 414.0 | $ | 974.3 | $ | 0.1 | $ | 1,545.6 | TOTAL COMMON SHAREHOLDER’S EQUITY – DECEMBER 31, 2020 | $ | 157.2 | $ | 414.0 | $ | 974.3 | $ | 0.1 | $ | 1,545.6 | ||||||||||||||||||||||||||||||||||||||||||
Capital Contribution from Parent | Capital Contribution from Parent | 425.0 | 425.0 | Capital Contribution from Parent | 425.0 | 425.0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net Loss | Net Loss | (2.7) | (2.7) | Net Loss | (2.7) | (2.7) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Comprehensive Loss | Other Comprehensive Loss | (0.1) | (0.1) | Other Comprehensive Loss | (0.1) | (0.1) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
TOTAL COMMON SHAREHOLDER’S EQUITY – MARCH 31, 2021 | TOTAL COMMON SHAREHOLDER’S EQUITY – MARCH 31, 2021 | $ | 157.2 | $ | 839.0 | $ | 971.6 | $ | 0 | $ | 1,967.8 | TOTAL COMMON SHAREHOLDER’S EQUITY – MARCH 31, 2021 | 157.2 | 839.0 | 971.6 | — | 1,967.8 | |||||||||||||||||||||||||||||||||||||||||||||||
Capital Contribution from Parent | Capital Contribution from Parent | 200.0 | 200.0 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common Stock Dividends | Common Stock Dividends | (10.0) | (10.0) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net Income | Net Income | 46.1 | 46.1 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
TOTAL COMMON SHAREHOLDER’S EQUITY – JUNE 30, 2021 | TOTAL COMMON SHAREHOLDER’S EQUITY – JUNE 30, 2021 | 157.2 | 1,039.0 | 1,007.7 | — | 2,203.9 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common Stock Dividends | Common Stock Dividends | (10.0) | (10.0) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net Income | Net Income | 93.2 | 93.2 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
TOTAL COMMON SHAREHOLDER’S EQUITY – SEPTEMBER 30, 2021 | TOTAL COMMON SHAREHOLDER’S EQUITY – SEPTEMBER 30, 2021 | $ | 157.2 | $ | 1,039.0 | $ | 1,090.9 | $ | — | $ | 2,287.1 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
March 31, | December 31, | September 30, | December 31, | |||||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | |||||||||||||||||||||||||
CURRENT ASSETS | CURRENT ASSETS | CURRENT ASSETS | ||||||||||||||||||||||||||
Cash and Cash Equivalents | Cash and Cash Equivalents | $ | 2.4 | $ | 2.6 | Cash and Cash Equivalents | $ | 3.6 | $ | 2.6 | ||||||||||||||||||
Advances to Affiliates | Advances to Affiliates | 59.5 | — | |||||||||||||||||||||||||
Accounts Receivable: | Accounts Receivable: | Accounts Receivable: | ||||||||||||||||||||||||||
Customers | Customers | 37.7 | 30.8 | Customers | 29.7 | 30.8 | ||||||||||||||||||||||
Affiliated Companies | Affiliated Companies | 21.8 | 15.6 | Affiliated Companies | 31.7 | 15.6 | ||||||||||||||||||||||
Miscellaneous | Miscellaneous | 0.1 | 2.0 | Miscellaneous | 0.4 | 2.0 | ||||||||||||||||||||||
Total Accounts Receivable | Total Accounts Receivable | 59.6 | 48.4 | Total Accounts Receivable | 61.8 | 48.4 | ||||||||||||||||||||||
Fuel | Fuel | 14.1 | 17.9 | Fuel | 7.6 | 17.9 | ||||||||||||||||||||||
Materials and Supplies | Materials and Supplies | 53.3 | 54.0 | Materials and Supplies | 54.4 | 54.0 | ||||||||||||||||||||||
Risk Management Assets | Risk Management Assets | 5.5 | 10.3 | Risk Management Assets | 18.5 | 10.3 | ||||||||||||||||||||||
Accrued Tax Benefits | Accrued Tax Benefits | 9.9 | 10.9 | Accrued Tax Benefits | 35.7 | 10.9 | ||||||||||||||||||||||
Regulatory Asset for Under-Recovered Fuel Costs | Regulatory Asset for Under-Recovered Fuel Costs | 44.8 | 30.1 | Regulatory Asset for Under-Recovered Fuel Costs | 133.4 | 30.1 | ||||||||||||||||||||||
Prepayments and Other Current Assets | Prepayments and Other Current Assets | 7.4 | 7.1 | Prepayments and Other Current Assets | 13.1 | 7.1 | ||||||||||||||||||||||
TOTAL CURRENT ASSETS | TOTAL CURRENT ASSETS | 197.0 | 181.3 | TOTAL CURRENT ASSETS | 387.6 | 181.3 | ||||||||||||||||||||||
PROPERTY, PLANT AND EQUIPMENT | PROPERTY, PLANT AND EQUIPMENT | PROPERTY, PLANT AND EQUIPMENT | ||||||||||||||||||||||||||
Electric: | Electric: | Electric: | ||||||||||||||||||||||||||
Generation | Generation | 1,481.7 | 1,480.7 | Generation | 1,795.2 | 1,480.7 | ||||||||||||||||||||||
Transmission | Transmission | 1,082.0 | 1,069.9 | Transmission | 1,095.9 | 1,069.9 | ||||||||||||||||||||||
Distribution | Distribution | 2,896.4 | 2,853.0 | Distribution | 2,959.7 | 2,853.0 | ||||||||||||||||||||||
Other Property, Plant and Equipment | Other Property, Plant and Equipment | 411.0 | 393.3 | Other Property, Plant and Equipment | 427.8 | 393.3 | ||||||||||||||||||||||
Construction Work in Progress | Construction Work in Progress | 98.2 | 128.7 | Construction Work in Progress | 127.7 | 128.7 | ||||||||||||||||||||||
Total Property, Plant and Equipment | Total Property, Plant and Equipment | 5,969.3 | 5,925.6 | Total Property, Plant and Equipment | 6,406.3 | 5,925.6 | ||||||||||||||||||||||
Accumulated Depreciation and Amortization | Accumulated Depreciation and Amortization | 1,626.0 | 1,605.6 | Accumulated Depreciation and Amortization | 1,682.6 | 1,605.6 | ||||||||||||||||||||||
TOTAL PROPERTY, PLANT AND EQUIPMENT – NET | TOTAL PROPERTY, PLANT AND EQUIPMENT – NET | 4,343.3 | 4,320.0 | TOTAL PROPERTY, PLANT AND EQUIPMENT – NET | 4,723.7 | 4,320.0 | ||||||||||||||||||||||
OTHER NONCURRENT ASSETS | OTHER NONCURRENT ASSETS | OTHER NONCURRENT ASSETS | ||||||||||||||||||||||||||
Regulatory Assets | Regulatory Assets | 1,067.6 | 375.0 | Regulatory Assets | 1,052.3 | 375.0 | ||||||||||||||||||||||
Employee Benefits and Pension Assets | Employee Benefits and Pension Assets | 65.9 | 65.8 | Employee Benefits and Pension Assets | 66.2 | 65.8 | ||||||||||||||||||||||
Operating Lease Assets | Operating Lease Assets | 42.4 | 42.6 | Operating Lease Assets | 70.4 | 42.6 | ||||||||||||||||||||||
Deferred Charges and Other Noncurrent Assets | Deferred Charges and Other Noncurrent Assets | 39.6 | 6.0 | Deferred Charges and Other Noncurrent Assets | 18.9 | 6.0 | ||||||||||||||||||||||
TOTAL OTHER NONCURRENT ASSETS | TOTAL OTHER NONCURRENT ASSETS | 1,215.5 | 489.4 | TOTAL OTHER NONCURRENT ASSETS | 1,207.8 | 489.4 | ||||||||||||||||||||||
TOTAL ASSETS | TOTAL ASSETS | $ | 5,755.8 | $ | 4,990.7 | TOTAL ASSETS | $ | 6,319.1 | $ | 4,990.7 | ||||||||||||||||||
March 31, | December 31, | September 30, | December 31, | |||||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | |||||||||||||||||||||||||
(in millions) | (in millions) | |||||||||||||||||||||||||||
CURRENT LIABILITIES | CURRENT LIABILITIES | CURRENT LIABILITIES | ||||||||||||||||||||||||||
Advances from Affiliates | Advances from Affiliates | $ | 245.7 | $ | 155.4 | Advances from Affiliates | $ | — | $ | 155.4 | ||||||||||||||||||
Accounts Payable: | Accounts Payable: | Accounts Payable: | ||||||||||||||||||||||||||
General | General | 107.4 | 107.0 | General | 146.4 | 107.0 | ||||||||||||||||||||||
Affiliated Companies | Affiliated Companies | 49.6 | 43.4 | Affiliated Companies | 32.0 | 43.4 | ||||||||||||||||||||||
Long-term Debt Due Within One Year – Nonaffiliated | Long-term Debt Due Within One Year – Nonaffiliated | 0.5 | 0.5 | Long-term Debt Due Within One Year – Nonaffiliated | 0.5 | 0.5 | ||||||||||||||||||||||
Customer Deposits | Customer Deposits | 53.6 | 54.8 | Customer Deposits | 54.0 | 54.8 | ||||||||||||||||||||||
Accrued Taxes | Accrued Taxes | 48.2 | 26.8 | Accrued Taxes | 60.9 | 26.8 | ||||||||||||||||||||||
Obligations Under Operating Leases | Obligations Under Operating Leases | 6.6 | 6.5 | Obligations Under Operating Leases | 6.9 | 6.5 | ||||||||||||||||||||||
Other Current Liabilities | Other Current Liabilities | 57.6 | 84.2 | Other Current Liabilities | 67.9 | 84.2 | ||||||||||||||||||||||
TOTAL CURRENT LIABILITIES | TOTAL CURRENT LIABILITIES | 569.2 | 478.6 | TOTAL CURRENT LIABILITIES | 368.6 | 478.6 | ||||||||||||||||||||||
NONCURRENT LIABILITIES | NONCURRENT LIABILITIES | NONCURRENT LIABILITIES | ||||||||||||||||||||||||||
Long-term Debt – Nonaffiliated | Long-term Debt – Nonaffiliated | 1,623.3 | 1,373.3 | Long-term Debt – Nonaffiliated | 1,912.8 | 1,373.3 | ||||||||||||||||||||||
Deferred Income Taxes | Deferred Income Taxes | 693.7 | 688.5 | Deferred Income Taxes | 764.0 | 688.5 | ||||||||||||||||||||||
Regulatory Liabilities and Deferred Investment Tax Credits | Regulatory Liabilities and Deferred Investment Tax Credits | 799.7 | 802.2 | Regulatory Liabilities and Deferred Investment Tax Credits | 846.2 | 802.2 | ||||||||||||||||||||||
Asset Retirement Obligations | Asset Retirement Obligations | 46.0 | 45.7 | Asset Retirement Obligations | 55.0 | 45.7 | ||||||||||||||||||||||
Obligations Under Operating Leases | Obligations Under Operating Leases | 35.8 | 36.2 | Obligations Under Operating Leases | 63.7 | 36.2 | ||||||||||||||||||||||
Deferred Credits and Other Noncurrent Liabilities | Deferred Credits and Other Noncurrent Liabilities | 20.3 | 20.6 | Deferred Credits and Other Noncurrent Liabilities | 21.7 | 20.6 | ||||||||||||||||||||||
TOTAL NONCURRENT LIABILITIES | TOTAL NONCURRENT LIABILITIES | 3,218.8 | 2,966.5 | TOTAL NONCURRENT LIABILITIES | 3,663.4 | 2,966.5 | ||||||||||||||||||||||
TOTAL LIABILITIES | TOTAL LIABILITIES | 3,788.0 | 3,445.1 | TOTAL LIABILITIES | 4,032.0 | 3,445.1 | ||||||||||||||||||||||
Rate Matters (Note 4) | Rate Matters (Note 4) | 0 | 0 | Rate Matters (Note 4) | 0 | 0 | ||||||||||||||||||||||
Commitments and Contingencies (Note 5) | Commitments and Contingencies (Note 5) | 0 | 0 | Commitments and Contingencies (Note 5) | 0 | 0 | ||||||||||||||||||||||
COMMON SHAREHOLDER’S EQUITY | COMMON SHAREHOLDER’S EQUITY | COMMON SHAREHOLDER’S EQUITY | ||||||||||||||||||||||||||
Common Stock – Par Value – $15 Per Share: | Common Stock – Par Value – $15 Per Share: | Common Stock – Par Value – $15 Per Share: | ||||||||||||||||||||||||||
Authorized – 11,000,000 Shares | Authorized – 11,000,000 Shares | Authorized – 11,000,000 Shares | ||||||||||||||||||||||||||
Issued – 10,482,000 Shares | Issued – 10,482,000 Shares | Issued – 10,482,000 Shares | ||||||||||||||||||||||||||
Outstanding – 9,013,000 Shares | Outstanding – 9,013,000 Shares | 157.2 | 157.2 | Outstanding – 9,013,000 Shares | 157.2 | 157.2 | ||||||||||||||||||||||
Paid-in Capital | Paid-in Capital | 839.0 | 414.0 | Paid-in Capital | 1,039.0 | 414.0 | ||||||||||||||||||||||
Retained Earnings | Retained Earnings | 971.6 | 974.3 | Retained Earnings | 1,090.9 | 974.3 | ||||||||||||||||||||||
Accumulated Other Comprehensive Income (Loss) | Accumulated Other Comprehensive Income (Loss) | 0 | 0.1 | Accumulated Other Comprehensive Income (Loss) | — | 0.1 | ||||||||||||||||||||||
TOTAL COMMON SHAREHOLDER’S EQUITY | TOTAL COMMON SHAREHOLDER’S EQUITY | 1,967.8 | 1,545.6 | TOTAL COMMON SHAREHOLDER’S EQUITY | 2,287.1 | 1,545.6 | ||||||||||||||||||||||
TOTAL LIABILITIES AND COMMON SHAREHOLDER’S EQUITY | TOTAL LIABILITIES AND COMMON SHAREHOLDER’S EQUITY | $ | 5,755.8 | $ | 4,990.7 | TOTAL LIABILITIES AND COMMON SHAREHOLDER’S EQUITY | $ | 6,319.1 | $ | 4,990.7 | ||||||||||||||||||
Three Months Ended March 31, | Nine Months Ended September 30, | |||||||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | |||||||||||||||||||||||||
OPERATING ACTIVITIES | OPERATING ACTIVITIES | OPERATING ACTIVITIES | ||||||||||||||||||||||||||
Net Loss | $ | (2.7) | $ | (10.3) | ||||||||||||||||||||||||
Adjustments to Reconcile Net Loss to Net Cash Flows Used for Operating Activities: | ||||||||||||||||||||||||||||
Net Income | Net Income | $ | 136.6 | $ | 116.4 | |||||||||||||||||||||||
Adjustments to Reconcile Net Income to Net Cash Flows from (Used for) Operating Activities: | Adjustments to Reconcile Net Income to Net Cash Flows from (Used for) Operating Activities: | |||||||||||||||||||||||||||
Depreciation and Amortization | Depreciation and Amortization | 49.9 | 44.7 | Depreciation and Amortization | 149.0 | 129.8 | ||||||||||||||||||||||
Deferred Income Taxes | Deferred Income Taxes | (0.8) | (5.3) | Deferred Income Taxes | 109.8 | (3.2) | ||||||||||||||||||||||
Allowance for Equity Funds Used During Construction | Allowance for Equity Funds Used During Construction | (0.4) | (1.0) | Allowance for Equity Funds Used During Construction | (1.5) | (3.2) | ||||||||||||||||||||||
Mark-to-Market of Risk Management Contracts | Mark-to-Market of Risk Management Contracts | 4.8 | 9.5 | Mark-to-Market of Risk Management Contracts | (8.2) | (0.3) | ||||||||||||||||||||||
Property Taxes | Property Taxes | (32.8) | (29.8) | Property Taxes | (10.9) | (10.6) | ||||||||||||||||||||||
Deferred Fuel Over/Under-Recovery, Net | Deferred Fuel Over/Under-Recovery, Net | (703.5) | 4.1 | Deferred Fuel Over/Under-Recovery, Net | (776.4) | (46.6) | ||||||||||||||||||||||
Change in Other Noncurrent Assets | Change in Other Noncurrent Assets | (7.3) | (0.1) | Change in Other Noncurrent Assets | (12.8) | (7.2) | ||||||||||||||||||||||
Change in Other Noncurrent Liabilities | Change in Other Noncurrent Liabilities | 1.5 | 4.2 | Change in Other Noncurrent Liabilities | 4.5 | 6.1 | ||||||||||||||||||||||
Changes in Certain Components of Working Capital: | Changes in Certain Components of Working Capital: | Changes in Certain Components of Working Capital: | ||||||||||||||||||||||||||
Accounts Receivable, Net | Accounts Receivable, Net | (11.2) | 0.9 | Accounts Receivable, Net | (13.4) | (5.6) | ||||||||||||||||||||||
Fuel, Materials and Supplies | Fuel, Materials and Supplies | 4.5 | (8.5) | Fuel, Materials and Supplies | 9.9 | (17.2) | ||||||||||||||||||||||
Accounts Payable | Accounts Payable | 15.2 | (39.1) | Accounts Payable | 16.4 | (26.1) | ||||||||||||||||||||||
Accrued Taxes, Net | Accrued Taxes, Net | 22.4 | 25.1 | Accrued Taxes, Net | 9.3 | 36.9 | ||||||||||||||||||||||
Other Current Assets | Other Current Assets | (0.3) | (1.7) | Other Current Assets | (5.9) | (0.1) | ||||||||||||||||||||||
Other Current Liabilities | Other Current Liabilities | (24.7) | (7.2) | Other Current Liabilities | (18.4) | (16.4) | ||||||||||||||||||||||
Net Cash Flows Used for Operating Activities | (685.4) | (14.5) | ||||||||||||||||||||||||||
Net Cash Flows from (Used for) Operating Activities | Net Cash Flows from (Used for) Operating Activities | (412.0) | 152.7 | |||||||||||||||||||||||||
INVESTING ACTIVITIES | INVESTING ACTIVITIES | INVESTING ACTIVITIES | ||||||||||||||||||||||||||
Construction Expenditures | Construction Expenditures | (79.9) | (96.5) | Construction Expenditures | (219.6) | (256.4) | ||||||||||||||||||||||
Change in Advances to Affiliates, Net | Change in Advances to Affiliates, Net | 0 | 38.8 | Change in Advances to Affiliates, Net | (59.5) | 38.8 | ||||||||||||||||||||||
Acquisition of the North Central Wind Energy Facilities | Acquisition of the North Central Wind Energy Facilities | (297.0) | — | |||||||||||||||||||||||||
Other Investing Activities | Other Investing Activities | 0.5 | 1.6 | Other Investing Activities | 1.9 | 3.9 | ||||||||||||||||||||||
Net Cash Flows Used for Investing Activities | Net Cash Flows Used for Investing Activities | (79.4) | (56.1) | Net Cash Flows Used for Investing Activities | (574.2) | (213.7) | ||||||||||||||||||||||
FINANCING ACTIVITIES | FINANCING ACTIVITIES | FINANCING ACTIVITIES | ||||||||||||||||||||||||||
Capital Contributions from Parent | Capital Contributions from Parent | 425.0 | 0 | Capital Contributions from Parent | 625.0 | — | ||||||||||||||||||||||
Issuance of Long-term Debt – Nonaffiliated | Issuance of Long-term Debt – Nonaffiliated | 500.0 | 0 | Issuance of Long-term Debt – Nonaffiliated | 1,290.0 | — | ||||||||||||||||||||||
Change in Advances from Affiliates, Net | Change in Advances from Affiliates, Net | 90.3 | 70.9 | Change in Advances from Affiliates, Net | (155.4) | 77.8 | ||||||||||||||||||||||
Retirement of Long-term Debt – Nonaffiliated | Retirement of Long-term Debt – Nonaffiliated | (250.1) | (0.1) | Retirement of Long-term Debt – Nonaffiliated | (750.4) | (13.0) | ||||||||||||||||||||||
Principal Payments for Finance Lease Obligations | Principal Payments for Finance Lease Obligations | (0.9) | (0.8) | Principal Payments for Finance Lease Obligations | (2.5) | (2.7) | ||||||||||||||||||||||
Dividends Paid on Common Stock | Dividends Paid on Common Stock | (20.0) | — | |||||||||||||||||||||||||
Other Financing Activities | Other Financing Activities | 0.3 | 0.2 | Other Financing Activities | 0.5 | 0.4 | ||||||||||||||||||||||
Net Cash Flows from Financing Activities | Net Cash Flows from Financing Activities | 764.6 | 70.2 | Net Cash Flows from Financing Activities | 987.2 | 62.5 | ||||||||||||||||||||||
Net Decrease in Cash and Cash Equivalents | (0.2) | (0.4) | ||||||||||||||||||||||||||
Net Increase in Cash and Cash Equivalents | Net Increase in Cash and Cash Equivalents | 1.0 | 1.5 | |||||||||||||||||||||||||
Cash and Cash Equivalents at Beginning of Period | Cash and Cash Equivalents at Beginning of Period | 2.6 | 1.5 | Cash and Cash Equivalents at Beginning of Period | 2.6 | 1.5 | ||||||||||||||||||||||
Cash and Cash Equivalents at End of Period | Cash and Cash Equivalents at End of Period | $ | 2.4 | $ | 1.1 | Cash and Cash Equivalents at End of Period | $ | 3.6 | $ | 3.0 | ||||||||||||||||||
SUPPLEMENTARY INFORMATION | SUPPLEMENTARY INFORMATION | SUPPLEMENTARY INFORMATION | ||||||||||||||||||||||||||
Cash Paid for Interest, Net of Capitalized Amounts | Cash Paid for Interest, Net of Capitalized Amounts | $ | 16.9 | $ | 16.7 | Cash Paid for Interest, Net of Capitalized Amounts | $ | 42.9 | $ | 45.5 | ||||||||||||||||||
Net Cash Paid (Received) for Income Taxes | Net Cash Paid (Received) for Income Taxes | (101.2) | (9.5) | |||||||||||||||||||||||||
Noncash Acquisitions Under Finance Leases | Noncash Acquisitions Under Finance Leases | 3.1 | 3.0 | |||||||||||||||||||||||||
Construction Expenditures Included in Current Liabilities as of September 30, | Construction Expenditures Included in Current Liabilities as of September 30, | 44.2 | 23.5 | |||||||||||||||||||||||||
Noncash Acquisitions Under Finance Leases | 1.0 | 0.9 | ||||||||||||||||||||||||||
Construction Expenditures Included in Current Liabilities as of March 31, | 22.2 | 30.8 | ||||||||||||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||||||||||||||||||||||||||||||||
Three Months Ended March 31, | September 30, | September 30, | ||||||||||||||||||||||||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | 2021 | 2020 | |||||||||||||||||||||||||||||||||||||||||
(in millions of KWhs) | (in millions of KWhs) | |||||||||||||||||||||||||||||||||||||||||||||
Retail: | Retail: | Retail: | ||||||||||||||||||||||||||||||||||||||||||||
Residential | Residential | 1,700 | 1,406 | Residential | 1,999 | 1,950 | 4,973 | 4,702 | ||||||||||||||||||||||||||||||||||||||
Commercial | Commercial | 1,209 | 1,228 | Commercial | 1,616 | 1,552 | 4,221 | 4,016 | ||||||||||||||||||||||||||||||||||||||
Industrial | Industrial | 971 | 1,242 | Industrial | 1,203 | 1,185 | 3,468 | 3,614 | ||||||||||||||||||||||||||||||||||||||
Miscellaneous | Miscellaneous | 18 | 20 | Miscellaneous | 19 | 19 | 58 | 59 | ||||||||||||||||||||||||||||||||||||||
Total Retail | Total Retail | 3,898 | 3,896 | Total Retail | 4,837 | 4,706 | 12,720 | 12,391 | ||||||||||||||||||||||||||||||||||||||
Wholesale | Wholesale | 1,541 | 1,326 | Wholesale | 2,170 | 1,571 | 5,103 | 4,081 | ||||||||||||||||||||||||||||||||||||||
Total KWhs | Total KWhs | 5,439 | 5,222 | Total KWhs | 7,007 | 6,277 | 17,823 | 16,472 |
Three Months Ended | Nine Months Ended | |||||||||||||||||||||||||||||||||||||||||||||
Three Months Ended March 31, | September 30, | September 30, | ||||||||||||||||||||||||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | 2021 | 2020 | |||||||||||||||||||||||||||||||||||||||||
(in degree days) | (in degree days) | |||||||||||||||||||||||||||||||||||||||||||||
Actual – Heating (a) | Actual – Heating (a) | 763 | 497 | Actual – Heating (a) | — | — | 789 | 522 | ||||||||||||||||||||||||||||||||||||||
Normal – Heating (b) | Normal – Heating (b) | 697 | 698 | Normal – Heating (b) | 1 | 1 | 723 | 724 | ||||||||||||||||||||||||||||||||||||||
Actual – Cooling (c) | Actual – Cooling (c) | 45 | 69 | Actual – Cooling (c) | 1,478 | 1,308 | 2,251 | 2,051 | ||||||||||||||||||||||||||||||||||||||
Normal – Cooling (b) | Normal – Cooling (b) | 40 | 39 | Normal – Cooling (b) | 1,416 | 1,420 | 2,195 | 2,200 |
Reconciliation of | ||||||||
Earnings Attributable to SWEPCo Common Shareholder | ||||||||
(in millions) | ||||||||
$ | ||||||||
Changes in Gross Margin: | ||||||||
Retail Margins (a) | ||||||||
Margins from Off-system Sales | ||||||||
Transmission Revenues | ||||||||
Other Revenues | 0.7 | |||||||
Total Change in Gross Margin | ||||||||
Changes in Expenses and Other: | ||||||||
Other Operation and Maintenance | ||||||||
Depreciation and Amortization | ||||||||
Taxes Other Than Income Taxes | ||||||||
Interest Income | ||||||||
Allowance for Equity Funds Used During Construction | ||||||||
Interest Expense | ||||||||
Total Change in Expenses and Other | ||||||||
Income Tax Expense | ||||||||
Equity Earnings of Unconsolidated Subsidiary | ||||||||
Net Income Attributable to Noncontrolling Interest | (0.3) | |||||||
$ | 108.9 |
Reconciliation of Nine Months Ended September 30, 2020 to Nine Months Ended September 30, 2021 | ||||||||
Earnings Attributable to SWEPCo Common Shareholder | ||||||||
(in millions) | ||||||||
Nine Months Ended September 30, 2020 | $ | 161.8 | ||||||
Changes in Gross Margin: | ||||||||
Retail Margins (a) | 62.4 | |||||||
Margins from Off-system Sales | 21.2 | |||||||
Transmission Revenues | 5.4 | |||||||
Other Revenues | 1.9 | |||||||
Total Change in Gross Margin | 90.9 | |||||||
Changes in Expenses and Other: | ||||||||
Other Operation and Maintenance | (13.9) | |||||||
Depreciation and Amortization | (13.5) | |||||||
Taxes Other Than Income Taxes | (12.0) | |||||||
Interest Income | 5.2 | |||||||
Allowance for Equity Funds Used During Construction | (0.3) | |||||||
Non-Service Cost Components of Net Periodic Benefit Cost | (0.1) | |||||||
Interest Expense | (3.3) | |||||||
Total Change in Expenses and Other | (37.9) | |||||||
Income Tax Expense | (6.5) | |||||||
Equity Earnings of Unconsolidated Subsidiary | 0.3 | |||||||
Net Income Attributable to Noncontrolling Interest | (0.5) | |||||||
Nine Months Ended September 30, 2021 | $ | 208.1 |
Three Months Ended | Nine Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||
Three Months Ended March 31, | September 30, | September 30, | ||||||||||||||||||||||||||||||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | 2021 | 2020 | |||||||||||||||||||||||||||||||||||||||||||||||
REVENUES | REVENUES | REVENUES | ||||||||||||||||||||||||||||||||||||||||||||||||||
Electric Generation, Transmission and Distribution | Electric Generation, Transmission and Distribution | $ | 607.7 | $ | 377.6 | Electric Generation, Transmission and Distribution | $ | 570.1 | $ | 505.7 | $ | 1,596.6 | $ | 1,284.3 | ||||||||||||||||||||||||||||||||||||||
Sales to AEP Affiliates | Sales to AEP Affiliates | 7.8 | 7.5 | Sales to AEP Affiliates | 13.5 | 10.9 | 32.2 | 31.5 | ||||||||||||||||||||||||||||||||||||||||||||
Other Revenues | Other Revenues | 0.6 | 0.8 | Other Revenues | 0.5 | 0.7 | 1.5 | 2.4 | ||||||||||||||||||||||||||||||||||||||||||||
TOTAL REVENUES | TOTAL REVENUES | 616.1 | 385.9 | TOTAL REVENUES | 584.1 | 517.3 | 1,630.3 | 1,318.2 | ||||||||||||||||||||||||||||||||||||||||||||
EXPENSES | EXPENSES | EXPENSES | ||||||||||||||||||||||||||||||||||||||||||||||||||
Purchased Electricity, Fuel and Other Consumables Used for Electric Generation | Purchased Electricity, Fuel and Other Consumables Used for Electric Generation | 299.8 | 132.2 | Purchased Electricity, Fuel and Other Consumables Used for Electric Generation | 214.4 | 172.7 | 652.7 | 431.5 | ||||||||||||||||||||||||||||||||||||||||||||
Other Operation | Other Operation | 90.3 | 92.2 | Other Operation | 91.7 | 96.8 | 270.6 | 259.0 | ||||||||||||||||||||||||||||||||||||||||||||
Maintenance | Maintenance | 34.0 | 33.8 | Maintenance | 33.7 | 30.7 | 99.5 | 97.2 | ||||||||||||||||||||||||||||||||||||||||||||
Depreciation and Amortization | Depreciation and Amortization | 69.6 | 67.3 | Depreciation and Amortization | 74.8 | 68.5 | 217.4 | 203.9 | ||||||||||||||||||||||||||||||||||||||||||||
Taxes Other Than Income Taxes | Taxes Other Than Income Taxes | 30.0 | 25.3 | Taxes Other Than Income Taxes | 28.9 | 26.7 | 89.0 | 77.0 | ||||||||||||||||||||||||||||||||||||||||||||
TOTAL EXPENSES | TOTAL EXPENSES | 523.7 | 350.8 | TOTAL EXPENSES | 443.5 | 395.4 | 1,329.2 | 1,068.6 | ||||||||||||||||||||||||||||||||||||||||||||
OPERATING INCOME | OPERATING INCOME | 92.4 | 35.1 | OPERATING INCOME | 140.6 | 121.9 | 301.1 | 249.6 | ||||||||||||||||||||||||||||||||||||||||||||
Other Income (Expense): | Other Income (Expense): | Other Income (Expense): | ||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Income | Interest Income | 1.0 | 0.6 | Interest Income | 2.8 | 0.6 | 6.9 | 1.7 | ||||||||||||||||||||||||||||||||||||||||||||
Allowance for Equity Funds Used During Construction | Allowance for Equity Funds Used During Construction | 2.1 | 1.4 | Allowance for Equity Funds Used During Construction | 1.4 | 3.4 | 5.4 | 5.7 | ||||||||||||||||||||||||||||||||||||||||||||
Non-Service Cost Components of Net Periodic Benefit Cost | Non-Service Cost Components of Net Periodic Benefit Cost | 2.1 | 2.1 | Non-Service Cost Components of Net Periodic Benefit Cost | 2.1 | 2.1 | 6.2 | 6.3 | ||||||||||||||||||||||||||||||||||||||||||||
Interest Expense | Interest Expense | (29.3) | (30.1) | Interest Expense | (31.7) | (29.3) | (92.4) | (89.1) | ||||||||||||||||||||||||||||||||||||||||||||
INCOME BEFORE INCOME TAX EXPENSE (BENEFIT) AND EQUITY EARNINGS | 68.3 | 9.1 | ||||||||||||||||||||||||||||||||||||||||||||||||||
INCOME BEFORE INCOME TAX EXPENSE AND EQUITY EARNINGS | INCOME BEFORE INCOME TAX EXPENSE AND EQUITY EARNINGS | 115.2 | 98.7 | 227.2 | 174.2 | |||||||||||||||||||||||||||||||||||||||||||||||
Income Tax Expense (Benefit) | 5.6 | (6.2) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Income Tax Expense | Income Tax Expense | 6.3 | 10.8 | 19.0 | 12.5 | |||||||||||||||||||||||||||||||||||||||||||||||
Equity Earnings of Unconsolidated Subsidiary | Equity Earnings of Unconsolidated Subsidiary | 0.7 | 0.8 | Equity Earnings of Unconsolidated Subsidiary | 1.0 | 0.7 | 2.5 | 2.2 | ||||||||||||||||||||||||||||||||||||||||||||
NET INCOME | NET INCOME | 63.4 | 16.1 | NET INCOME | 109.9 | 88.6 | 210.7 | 163.9 | ||||||||||||||||||||||||||||||||||||||||||||
Net Income Attributable to Noncontrolling Interest | Net Income Attributable to Noncontrolling Interest | 1.0 | 1.0 | Net Income Attributable to Noncontrolling Interest | 1.0 | 0.7 | 2.6 | 2.1 | ||||||||||||||||||||||||||||||||||||||||||||
EARNINGS ATTRIBUTABLE TO SWEPCo COMMON SHAREHOLDER | EARNINGS ATTRIBUTABLE TO SWEPCo COMMON SHAREHOLDER | $ | 62.4 | $ | 15.1 | EARNINGS ATTRIBUTABLE TO SWEPCo COMMON SHAREHOLDER | $ | 108.9 | $ | 87.9 | $ | 208.1 | $ | 161.8 | The common stock of SWEPCo is wholly-owned by Parent. | |||||||||||||||||||||||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||
September 30, | September 30, | |||||||||||||||||||||||||||||||||||||||||||||||||||
Three Months Ended March 31, | ||||||||||||||||||||||||||||||||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | 2021 | 2020 | |||||||||||||||||||||||||||||||||||||||||||||||
Net Income | Net Income | $ | 63.4 | $ | 16.1 | Net Income | $ | 109.9 | $ | 88.6 | $ | 210.7 | $ | 163.9 | ||||||||||||||||||||||||||||||||||||||
OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAXES | OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAXES | OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAXES | ||||||||||||||||||||||||||||||||||||||||||||||||||
Cash Flow Hedges, Net of Tax of $0.1 and $0.1 in 2021 and 2020, Respectively | 0.4 | 0.4 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Amortization of Pension and OPEB Deferred Costs, Net of Tax of $(0.1) and $(0.1) in 2021 and 2020, Respectively | (0.4) | (0.4) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Cash Flow Hedges, Net of Tax of $0.1 and $0.1 for the Three Months Ended September 30, 2021 and 2020, Respectively, and $0.3 and $0.3 for the Nine Months Ended September 30, 2021 and 2020, Respectively | Cash Flow Hedges, Net of Tax of $0.1 and $0.1 for the Three Months Ended September 30, 2021 and 2020, Respectively, and $0.3 and $0.3 for the Nine Months Ended September 30, 2021 and 2020, Respectively | 0.3 | 0.4 | 1.1 | 1.1 | |||||||||||||||||||||||||||||||||||||||||||||||
Amortization of Pension and OPEB Deferred Costs, Net of Tax of $(0.1) and $(0.1) for the Three Months Ended September 30, 2021 and 2020, Respectively, and $(0.3) and $(0.3) for the Nine Months Ended September 30, 2021 and 2020, Respectively | Amortization of Pension and OPEB Deferred Costs, Net of Tax of $(0.1) and $(0.1) for the Three Months Ended September 30, 2021 and 2020, Respectively, and $(0.3) and $(0.3) for the Nine Months Ended September 30, 2021 and 2020, Respectively | (0.4) | (0.4) | (1.2) | (1.1) | |||||||||||||||||||||||||||||||||||||||||||||||
TOTAL OTHER COMPREHENSIVE INCOME | 0 | 0 | ||||||||||||||||||||||||||||||||||||||||||||||||||
TOTAL OTHER COMPREHENSIVE INCOME (LOSS) | TOTAL OTHER COMPREHENSIVE INCOME (LOSS) | (0.1) | — | (0.1) | — | |||||||||||||||||||||||||||||||||||||||||||||||
TOTAL COMPREHENSIVE INCOME | TOTAL COMPREHENSIVE INCOME | 63.4 | 16.1 | TOTAL COMPREHENSIVE INCOME | 109.8 | 88.6 | 210.6 | 163.9 | ||||||||||||||||||||||||||||||||||||||||||||
Total Comprehensive Income Attributable to Noncontrolling Interest | Total Comprehensive Income Attributable to Noncontrolling Interest | 1.0 | 1.0 | Total Comprehensive Income Attributable to Noncontrolling Interest | 1.0 | 0.7 | 2.6 | 2.1 | ||||||||||||||||||||||||||||||||||||||||||||
TOTAL COMPREHENSIVE INCOME ATTRIBUTABLE TO SWEPCo COMMON SHAREHOLDER | TOTAL COMPREHENSIVE INCOME ATTRIBUTABLE TO SWEPCo COMMON SHAREHOLDER | $ | 62.4 | $ | 15.1 | TOTAL COMPREHENSIVE INCOME ATTRIBUTABLE TO SWEPCo COMMON SHAREHOLDER | $ | 108.8 | $ | 87.9 | $ | 208.0 | $ | 161.8 | ||||||||||||||||||||||||||||||||||||||
SWEPCo Common Shareholder | SWEPCo Common Shareholder | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common Stock | Paid-in Capital | Retained Earnings | Accumulated Other Comprehensive Income (Loss) | Noncontrolling Interest | Total | Common Stock | Paid-in Capital | Retained Earnings | Accumulated Other Comprehensive Income (Loss) | Noncontrolling Interest | Total | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
TOTAL EQUITY – DECEMBER 31, 2019 | TOTAL EQUITY – DECEMBER 31, 2019 | $ | 135.7 | $ | 676.6 | $ | 1,629.5 | $ | (1.3) | $ | 0.6 | $ | 2,441.1 | TOTAL EQUITY – DECEMBER 31, 2019 | $ | 135.7 | $ | 676.6 | $ | 1,629.5 | $ | (1.3) | $ | 0.6 | $ | 2,441.1 | ||||||||||||||||||||||||||||||||||||||||||||
Common Stock Dividends – Nonaffiliated | Common Stock Dividends – Nonaffiliated | (0.7) | (0.7) | Common Stock Dividends – Nonaffiliated | (0.7) | (0.7) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
ASU 2016-13 Adoption | ASU 2016-13 Adoption | 1.6 | 1.6 | ASU 2016-13 Adoption | 1.6 | 1.6 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net Income | Net Income | 15.1 | 1.0 | 16.1 | Net Income | 15.1 | 1.0 | 16.1 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
TOTAL EQUITY – MARCH 31, 2020 | TOTAL EQUITY – MARCH 31, 2020 | $ | 135.7 | $ | 676.6 | $ | 1,646.2 | $ | (1.3) | $ | 0.9 | $ | 2,458.1 | TOTAL EQUITY – MARCH 31, 2020 | 135.7 | 676.6 | 1,646.2 | (1.3) | 0.9 | 2,458.1 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Common Stock Dividends – Nonaffiliated | Common Stock Dividends – Nonaffiliated | (1.2) | (1.2) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net Income | Net Income | 58.8 | 0.4 | 59.2 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
TOTAL EQUITY – JUNE 30, 2020 | TOTAL EQUITY – JUNE 30, 2020 | 135.7 | 676.6 | 1,705.0 | (1.3) | 0.1 | 2,516.1 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reverse Common Stock Split | Reverse Common Stock Split | (135.6) | 135.6 | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common Stock Dividends – Nonaffiliated | Common Stock Dividends – Nonaffiliated | (0.4) | (0.4) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net Income | Net Income | 87.9 | 0.7 | 88.6 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
TOTAL EQUITY – SEPTEMBER 30, 2020 | TOTAL EQUITY – SEPTEMBER 30, 2020 | $ | 0.1 | $ | 812.2 | $ | 1,792.9 | $ | (1.3) | $ | 0.4 | $ | 2,604.3 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
TOTAL EQUITY – DECEMBER 31, 2020 | TOTAL EQUITY – DECEMBER 31, 2020 | $ | 0.1 | $ | 812.2 | $ | 1,811.9 | $ | 1.9 | $ | 1.6 | $ | 2,627.7 | TOTAL EQUITY – DECEMBER 31, 2020 | $ | 0.1 | $ | 812.2 | $ | 1,811.9 | $ | 1.9 | $ | 1.6 | $ | 2,627.7 | ||||||||||||||||||||||||||||||||||||||||||||
Capital Contribution from Parent | Capital Contribution from Parent | 100.0 | 100.0 | Capital Contribution from Parent | 100.0 | 100.0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common Stock Dividends – Nonaffiliated | Common Stock Dividends – Nonaffiliated | (1.0) | (1.0) | Common Stock Dividends – Nonaffiliated | (1.0) | (1.0) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net Income | Net Income | 62.4 | 1.0 | 63.4 | Net Income | 62.4 | 1.0 | 63.4 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
TOTAL EQUITY – MARCH 31, 2021 | TOTAL EQUITY – MARCH 31, 2021 | $ | 0.1 | $ | 912.2 | $ | 1,874.3 | $ | 1.9 | $ | 1.6 | $ | 2,790.1 | TOTAL EQUITY – MARCH 31, 2021 | 0.1 | 912.2 | 1,874.3 | 1.9 | 1.6 | 2,790.1 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Capital Contribution from Parent | Capital Contribution from Parent | 75.0 | 75.0 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common Stock Dividends – Nonaffiliated | Common Stock Dividends – Nonaffiliated | (0.6) | (0.6) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net Income | Net Income | 36.8 | 0.6 | 37.4 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
TOTAL EQUITY – JUNE 30, 2021 | TOTAL EQUITY – JUNE 30, 2021 | 0.1 | 987.2 | 1,911.1 | 1.9 | 1.6 | 2,901.9 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Capital Contribution from Parent | Capital Contribution from Parent | 105.0 | 105.0 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common Stock Dividends – Nonaffiliated | Common Stock Dividends – Nonaffiliated | (2.2) | (2.2) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net Income | Net Income | 108.9 | 1.0 | 109.9 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Comprehensive Loss | Other Comprehensive Loss | (0.1) | (0.1) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
TOTAL EQUITY – SEPTEMBER 30, 2021 | TOTAL EQUITY – SEPTEMBER 30, 2021 | $ | 0.1 | $ | 1,092.2 | $ | 2,020.0 | $ | 1.8 | $ | 0.4 | $ | 3,114.5 |
March 31, | December 31, | September 30, | December 31, | |||||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | |||||||||||||||||||||||||
CURRENT ASSETS | CURRENT ASSETS | CURRENT ASSETS | ||||||||||||||||||||||||||
Cash and Cash Equivalents (March 31, 2021 and December 31, 2020 Amounts Include $14.7 and $10.1, Respectively, Related to Sabine) | $ | 18.2 | $ | 13.2 | ||||||||||||||||||||||||
Cash and Cash Equivalents (September 30, 2021 and December 31, 2020 Amounts Include $41 and $10.1, Respectively, Related to Sabine) | Cash and Cash Equivalents (September 30, 2021 and December 31, 2020 Amounts Include $41 and $10.1, Respectively, Related to Sabine) | $ | 45.0 | $ | 13.2 | |||||||||||||||||||||||
Advances to Affiliates | Advances to Affiliates | 2.1 | 2.1 | Advances to Affiliates | 2.1 | 2.1 | ||||||||||||||||||||||
Accounts Receivable: | Accounts Receivable: | Accounts Receivable: | ||||||||||||||||||||||||||
Customers | Customers | 119.4 | 27.1 | Customers | 76.2 | 27.1 | ||||||||||||||||||||||
Affiliated Companies | Affiliated Companies | 34.6 | 25.1 | Affiliated Companies | 35.6 | 25.1 | ||||||||||||||||||||||
Miscellaneous | Miscellaneous | 16.7 | 12.7 | Miscellaneous | 23.3 | 12.7 | ||||||||||||||||||||||
Total Accounts Receivable | Total Accounts Receivable | 170.7 | 64.9 | Total Accounts Receivable | 135.1 | 64.9 | ||||||||||||||||||||||
Fuel (March 31, 2021 and December 31, 2020 Amounts Include $17.2 and $35.2, Respectively, Related to Sabine) | 195.6 | 191.1 | ||||||||||||||||||||||||||
Materials and Supplies (March 31, 2021 and December 31, 2020 Amounts Include $21.8 and $23.3, Respectively, Related to Sabine) | 93.0 | 95.8 | ||||||||||||||||||||||||||
Fuel (September 30, 2021 and December 31, 2020 Amounts Include $6.7 and $35.2, Respectively, Related to Sabine) | Fuel (September 30, 2021 and December 31, 2020 Amounts Include $6.7 and $35.2, Respectively, Related to Sabine) | 95.4 | 191.1 | |||||||||||||||||||||||||
Materials and Supplies (September 30, 2021 and December 31, 2020 Amounts Include $15.9 and $23.3, Respectively, Related to Sabine) | Materials and Supplies (September 30, 2021 and December 31, 2020 Amounts Include $15.9 and $23.3, Respectively, Related to Sabine) | 86.8 | 95.8 | |||||||||||||||||||||||||
Risk Management Assets | Risk Management Assets | 1.3 | 3.2 | Risk Management Assets | 17.5 | 3.2 | ||||||||||||||||||||||
Accrued Tax Benefits | Accrued Tax Benefits | 36.3 | 29.9 | Accrued Tax Benefits | 19.8 | 29.9 | ||||||||||||||||||||||
Regulatory Asset for Under-Recovered Fuel Costs | Regulatory Asset for Under-Recovered Fuel Costs | 5.8 | 2.6 | Regulatory Asset for Under-Recovered Fuel Costs | 38.7 | 2.6 | ||||||||||||||||||||||
Prepayments and Other Current Assets | Prepayments and Other Current Assets | 17.9 | 25.2 | Prepayments and Other Current Assets | 20.8 | 25.2 | ||||||||||||||||||||||
TOTAL CURRENT ASSETS | TOTAL CURRENT ASSETS | 540.9 | 428.0 | TOTAL CURRENT ASSETS | 461.2 | 428.0 | ||||||||||||||||||||||
PROPERTY, PLANT AND EQUIPMENT | PROPERTY, PLANT AND EQUIPMENT | PROPERTY, PLANT AND EQUIPMENT | ||||||||||||||||||||||||||
Electric: | Electric: | Electric: | ||||||||||||||||||||||||||
Generation | Generation | 4,679.8 | 4,681.4 | Generation | 5,065.5 | 4,681.4 | ||||||||||||||||||||||
Transmission | Transmission | 2,203.3 | 2,165.7 | Transmission | 2,264.6 | 2,165.7 | ||||||||||||||||||||||
Distribution | Distribution | 2,403.1 | 2,382.5 | Distribution | 2,499.2 | 2,382.5 | ||||||||||||||||||||||
Other Property, Plant and Equipment (March 31, 2021 and December 31, 2020 Amounts Include $223.8 and $223.7, Respectively, Related to Sabine) | 803.9 | 788.8 | ||||||||||||||||||||||||||
Other Property, Plant and Equipment (September 30, 2021 and December 31, 2020 Amounts Include $220.2 and $223.7, Respectively, Related to Sabine) | Other Property, Plant and Equipment (September 30, 2021 and December 31, 2020 Amounts Include $220.2 and $223.7, Respectively, Related to Sabine) | 817.6 | 788.8 | |||||||||||||||||||||||||
Construction Work in Progress | Construction Work in Progress | 232.4 | 228.3 | Construction Work in Progress | 195.5 | 228.3 | ||||||||||||||||||||||
Total Property, Plant and Equipment | Total Property, Plant and Equipment | 10,322.5 | 10,246.7 | Total Property, Plant and Equipment | 10,842.4 | 10,246.7 | ||||||||||||||||||||||
Accumulated Depreciation and Amortization (March 31, 2021 and December 31, 2020 Amounts Include $137.7 and $126.5, Respectively, Related to Sabine) | 3,275.2 | 3,158.5 | ||||||||||||||||||||||||||
Accumulated Depreciation and Amortization (September 30, 2021 and December 31, 2020 Amounts Include $156.7 and $126.5, Respectively, Related to Sabine) | Accumulated Depreciation and Amortization (September 30, 2021 and December 31, 2020 Amounts Include $156.7 and $126.5, Respectively, Related to Sabine) | 3,478.5 | 3,158.5 | |||||||||||||||||||||||||
TOTAL PROPERTY, PLANT AND EQUIPMENT – NET | TOTAL PROPERTY, PLANT AND EQUIPMENT – NET | 7,047.3 | 7,088.2 | TOTAL PROPERTY, PLANT AND EQUIPMENT – NET | 7,363.9 | 7,088.2 | ||||||||||||||||||||||
OTHER NONCURRENT ASSETS | OTHER NONCURRENT ASSETS | OTHER NONCURRENT ASSETS | ||||||||||||||||||||||||||
Regulatory Assets | Regulatory Assets | 988.2 | 403.1 | Regulatory Assets | 1,068.0 | 403.1 | ||||||||||||||||||||||
Long-term Risk Management Assets | Long-term Risk Management Assets | 2.1 | — | |||||||||||||||||||||||||
Deferred Charges and Other Noncurrent Assets | Deferred Charges and Other Noncurrent Assets | 291.3 | 234.8 | Deferred Charges and Other Noncurrent Assets | 277.3 | 234.8 | ||||||||||||||||||||||
TOTAL OTHER NONCURRENT ASSETS | TOTAL OTHER NONCURRENT ASSETS | 1,279.5 | 637.9 | TOTAL OTHER NONCURRENT ASSETS | 1,347.4 | 637.9 | ||||||||||||||||||||||
TOTAL ASSETS | TOTAL ASSETS | $ | 8,867.7 | $ | 8,154.1 | TOTAL ASSETS | $ | 9,172.5 | $ | 8,154.1 | ||||||||||||||||||
March 31, | December 31, | September 30, | December 31, | |||||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | |||||||||||||||||||||||||
(in millions) | (in millions) | |||||||||||||||||||||||||||
CURRENT LIABILITIES | CURRENT LIABILITIES | CURRENT LIABILITIES | ||||||||||||||||||||||||||
Advances from Affiliates | Advances from Affiliates | $ | 86.9 | $ | 124.6 | Advances from Affiliates | $ | 122.9 | $ | 124.6 | ||||||||||||||||||
Accounts Payable: | Accounts Payable: | Accounts Payable: | ||||||||||||||||||||||||||
General | General | 219.7 | 135.9 | General | 114.7 | 135.9 | ||||||||||||||||||||||
Affiliated Companies | Affiliated Companies | 51.2 | 43.0 | Affiliated Companies | 43.4 | 43.0 | ||||||||||||||||||||||
Short-term Debt – Nonaffiliated | Short-term Debt – Nonaffiliated | 5.0 | 35.0 | Short-term Debt – Nonaffiliated | — | 35.0 | ||||||||||||||||||||||
Long-term Debt Due Within One Year – Nonaffiliated | Long-term Debt Due Within One Year – Nonaffiliated | 381.2 | 106.2 | Long-term Debt Due Within One Year – Nonaffiliated | 381.2 | 106.2 | ||||||||||||||||||||||
Risk Management Liabilities | Risk Management Liabilities | 0 | 0.7 | Risk Management Liabilities | — | 0.7 | ||||||||||||||||||||||
Customer Deposits | Customer Deposits | 60.3 | 61.3 | Customer Deposits | 60.7 | 61.3 | ||||||||||||||||||||||
Accrued Taxes | Accrued Taxes | 121.3 | 41.0 | Accrued Taxes | 103.1 | 41.0 | ||||||||||||||||||||||
Accrued Interest | Accrued Interest | 22.3 | 34.6 | Accrued Interest | 23.0 | 34.6 | ||||||||||||||||||||||
Obligations Under Operating Leases | Obligations Under Operating Leases | 8.0 | 7.9 | Obligations Under Operating Leases | 8.3 | 7.9 | ||||||||||||||||||||||
Other Current Liabilities | Other Current Liabilities | 127.7 | 173.4 | Other Current Liabilities | 119.6 | 173.4 | ||||||||||||||||||||||
TOTAL CURRENT LIABILITIES | TOTAL CURRENT LIABILITIES | 1,083.6 | 763.6 | TOTAL CURRENT LIABILITIES | 976.9 | 763.6 | ||||||||||||||||||||||
NONCURRENT LIABILITIES | NONCURRENT LIABILITIES | NONCURRENT LIABILITIES | ||||||||||||||||||||||||||
Long-term Debt – Nonaffiliated | Long-term Debt – Nonaffiliated | 2,750.2 | 2,530.2 | Long-term Debt – Nonaffiliated | 2,748.7 | 2,530.2 | ||||||||||||||||||||||
Long-term Risk Management Liabilities | Long-term Risk Management Liabilities | 0.9 | 1.0 | Long-term Risk Management Liabilities | — | 1.0 | ||||||||||||||||||||||
Deferred Income Taxes | Deferred Income Taxes | 1,017.4 | 1,017.6 | Deferred Income Taxes | 1,067.6 | 1,017.6 | ||||||||||||||||||||||
Regulatory Liabilities and Deferred Investment Tax Credits | Regulatory Liabilities and Deferred Investment Tax Credits | 878.5 | 863.4 | Regulatory Liabilities and Deferred Investment Tax Credits | 879.8 | 863.4 | ||||||||||||||||||||||
Asset Retirement Obligations | Asset Retirement Obligations | 191.9 | 193.7 | Asset Retirement Obligations | 193.4 | 193.7 | ||||||||||||||||||||||
Employee Benefits and Pension Obligations | Employee Benefits and Pension Obligations | 21.6 | 18.6 | Employee Benefits and Pension Obligations | 23.8 | 18.6 | ||||||||||||||||||||||
Obligations Under Operating Leases | Obligations Under Operating Leases | 44.3 | 44.1 | Obligations Under Operating Leases | 79.2 | 44.1 | ||||||||||||||||||||||
Deferred Credits and Other Noncurrent Liabilities | Deferred Credits and Other Noncurrent Liabilities | 89.2 | 94.2 | Deferred Credits and Other Noncurrent Liabilities | 88.6 | 94.2 | ||||||||||||||||||||||
TOTAL NONCURRENT LIABILITIES | TOTAL NONCURRENT LIABILITIES | 4,994.0 | 4,762.8 | TOTAL NONCURRENT LIABILITIES | 5,081.1 | 4,762.8 | ||||||||||||||||||||||
TOTAL LIABILITIES | TOTAL LIABILITIES | 6,077.6 | 5,526.4 | TOTAL LIABILITIES | 6,058.0 | 5,526.4 | ||||||||||||||||||||||
Rate Matters (Note 4) | Rate Matters (Note 4) | 0 | 0 | Rate Matters (Note 4) | 0 | 0 | ||||||||||||||||||||||
Commitments and Contingencies (Note 5) | Commitments and Contingencies (Note 5) | 0 | 0 | Commitments and Contingencies (Note 5) | 0 | 0 | ||||||||||||||||||||||
EQUITY | EQUITY | EQUITY | ||||||||||||||||||||||||||
Common Stock – Par Value – $18 Per Share: | Common Stock – Par Value – $18 Per Share: | Common Stock – Par Value – $18 Per Share: | ||||||||||||||||||||||||||
Authorized – 3,680 Shares | Authorized – 3,680 Shares | Authorized – 3,680 Shares | ||||||||||||||||||||||||||
Outstanding – 3,680 Shares | Outstanding – 3,680 Shares | 0.1 | 0.1 | Outstanding – 3,680 Shares | 0.1 | 0.1 | ||||||||||||||||||||||
Paid-in Capital | Paid-in Capital | 912.2 | 812.2 | Paid-in Capital | 1,092.2 | 812.2 | ||||||||||||||||||||||
Retained Earnings | Retained Earnings | 1,874.3 | 1,811.9 | Retained Earnings | 2,020.0 | 1,811.9 | ||||||||||||||||||||||
Accumulated Other Comprehensive Income (Loss) | Accumulated Other Comprehensive Income (Loss) | 1.9 | 1.9 | Accumulated Other Comprehensive Income (Loss) | 1.8 | 1.9 | ||||||||||||||||||||||
TOTAL COMMON SHAREHOLDER’S EQUITY | TOTAL COMMON SHAREHOLDER’S EQUITY | 2,788.5 | 2,626.1 | TOTAL COMMON SHAREHOLDER’S EQUITY | 3,114.1 | 2,626.1 | ||||||||||||||||||||||
Noncontrolling Interest | Noncontrolling Interest | 1.6 | 1.6 | Noncontrolling Interest | 0.4 | 1.6 | ||||||||||||||||||||||
TOTAL EQUITY | TOTAL EQUITY | 2,790.1 | 2,627.7 | TOTAL EQUITY | 3,114.5 | 2,627.7 | ||||||||||||||||||||||
TOTAL LIABILITIES AND EQUITY | TOTAL LIABILITIES AND EQUITY | $ | 8,867.7 | $ | 8,154.1 | TOTAL LIABILITIES AND EQUITY | $ | 9,172.5 | $ | 8,154.1 | ||||||||||||||||||
Three Months Ended March 31, | Nine Months Ended September 30, | |||||||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | |||||||||||||||||||||||||
OPERATING ACTIVITIES | OPERATING ACTIVITIES | OPERATING ACTIVITIES | ||||||||||||||||||||||||||
Net Income | Net Income | $ | 63.4 | $ | 16.1 | Net Income | $ | 210.7 | $ | 163.9 | ||||||||||||||||||
Adjustments to Reconcile Net Income to Net Cash Flows from (Used for) Operating Activities: | Adjustments to Reconcile Net Income to Net Cash Flows from (Used for) Operating Activities: | Adjustments to Reconcile Net Income to Net Cash Flows from (Used for) Operating Activities: | ||||||||||||||||||||||||||
Depreciation and Amortization | Depreciation and Amortization | 69.6 | 67.3 | Depreciation and Amortization | 217.4 | 203.9 | ||||||||||||||||||||||
Deferred Income Taxes | Deferred Income Taxes | 8.6 | (9.2) | Deferred Income Taxes | 22.5 | (0.3) | ||||||||||||||||||||||
Allowance for Equity Funds Used During Construction | Allowance for Equity Funds Used During Construction | (2.1) | (1.4) | Allowance for Equity Funds Used During Construction | (5.4) | (5.7) | ||||||||||||||||||||||
Mark-to-Market of Risk Management Contracts | Mark-to-Market of Risk Management Contracts | 1.1 | 3.9 | Mark-to-Market of Risk Management Contracts | (18.1) | (2.3) | ||||||||||||||||||||||
Pension Contributions to Qualified Plan Trust | Pension Contributions to Qualified Plan Trust | — | (8.9) | |||||||||||||||||||||||||
Property Taxes | Property Taxes | (61.6) | (49.0) | Property Taxes | (20.0) | (16.5) | ||||||||||||||||||||||
Deferred Fuel Over/Under-Recovery, Net | Deferred Fuel Over/Under-Recovery, Net | (461.1) | 21.0 | Deferred Fuel Over/Under-Recovery, Net | (506.8) | 16.3 | ||||||||||||||||||||||
Change in Regulatory Assets | Change in Regulatory Assets | (89.1) | (15.1) | Change in Regulatory Assets | (91.5) | (64.5) | ||||||||||||||||||||||
Change in Other Noncurrent Assets | Change in Other Noncurrent Assets | 6.1 | 11.1 | Change in Other Noncurrent Assets | 38.3 | 3.2 | ||||||||||||||||||||||
Change in Other Noncurrent Liabilities | Change in Other Noncurrent Liabilities | 16.6 | 9.8 | Change in Other Noncurrent Liabilities | 40.0 | 21.0 | ||||||||||||||||||||||
Changes in Certain Components of Working Capital: | Changes in Certain Components of Working Capital: | Changes in Certain Components of Working Capital: | ||||||||||||||||||||||||||
Accounts Receivable, Net | Accounts Receivable, Net | (105.8) | 11.3 | Accounts Receivable, Net | (70.2) | 8.0 | ||||||||||||||||||||||
Fuel, Materials and Supplies | Fuel, Materials and Supplies | 0.4 | (7.6) | Fuel, Materials and Supplies | 115.1 | (70.9) | ||||||||||||||||||||||
Accounts Payable | Accounts Payable | 95.1 | (31.2) | Accounts Payable | (21.1) | 88.0 | ||||||||||||||||||||||
Accrued Taxes, Net | Accrued Taxes, Net | 73.9 | 51.2 | Accrued Taxes, Net | 72.2 | 46.6 | ||||||||||||||||||||||
Other Current Assets | Other Current Assets | 8.2 | (4.0) | Other Current Assets | 4.2 | 1.3 | ||||||||||||||||||||||
Other Current Liabilities | Other Current Liabilities | (51.0) | (48.4) | Other Current Liabilities | (48.2) | (50.3) | ||||||||||||||||||||||
Net Cash Flows from (Used for) Operating Activities | Net Cash Flows from (Used for) Operating Activities | (427.7) | 25.8 | Net Cash Flows from (Used for) Operating Activities | (60.9) | 332.8 | ||||||||||||||||||||||
INVESTING ACTIVITIES | INVESTING ACTIVITIES | INVESTING ACTIVITIES | ||||||||||||||||||||||||||
Construction Expenditures | Construction Expenditures | (91.4) | (122.4) | Construction Expenditures | (277.2) | (319.5) | ||||||||||||||||||||||
Acquisition of the North Central Wind Energy Facilities | Acquisition of the North Central Wind Energy Facilities | (355.8) | — | |||||||||||||||||||||||||
Other Investing Activities | Other Investing Activities | 0.1 | 0.8 | Other Investing Activities | 2.1 | 4.8 | ||||||||||||||||||||||
Net Cash Flows Used for Investing Activities | Net Cash Flows Used for Investing Activities | (91.3) | (121.6) | Net Cash Flows Used for Investing Activities | (630.9) | (314.7) | ||||||||||||||||||||||
FINANCING ACTIVITIES | FINANCING ACTIVITIES | FINANCING ACTIVITIES | ||||||||||||||||||||||||||
Capital Contribution from Parent | Capital Contribution from Parent | 100.0 | 0 | Capital Contribution from Parent | 280.0 | — | ||||||||||||||||||||||
Issuance of Long-term Debt – Nonaffiliated | Issuance of Long-term Debt – Nonaffiliated | 496.8 | 0 | Issuance of Long-term Debt – Nonaffiliated | 496.4 | — | ||||||||||||||||||||||
Change in Short-term Debt – Nonaffiliated | Change in Short-term Debt – Nonaffiliated | (30.0) | 12.2 | Change in Short-term Debt – Nonaffiliated | (35.0) | 23.7 | ||||||||||||||||||||||
Change in Advances from Affiliates, Net | Change in Advances from Affiliates, Net | (37.7) | 88.2 | Change in Advances from Affiliates, Net | (1.7) | 11.9 | ||||||||||||||||||||||
Retirement of Long-term Debt – Nonaffiliated | Retirement of Long-term Debt – Nonaffiliated | (1.6) | (1.6) | Retirement of Long-term Debt – Nonaffiliated | (4.7) | (19.7) | ||||||||||||||||||||||
Principal Payments for Finance Lease Obligations | Principal Payments for Finance Lease Obligations | (2.6) | (2.7) | Principal Payments for Finance Lease Obligations | (8.1) | (8.0) | ||||||||||||||||||||||
Dividends Paid on Common Stock – Nonaffiliated | Dividends Paid on Common Stock – Nonaffiliated | (1.0) | (0.7) | Dividends Paid on Common Stock – Nonaffiliated | (3.8) | (2.3) | ||||||||||||||||||||||
Other Financing Activities | Other Financing Activities | 0.1 | 0.2 | Other Financing Activities | 0.5 | 0.3 | ||||||||||||||||||||||
Net Cash Flows from Financing Activities | Net Cash Flows from Financing Activities | 524.0 | 95.6 | Net Cash Flows from Financing Activities | 723.6 | 5.9 | ||||||||||||||||||||||
Net Increase (Decrease) in Cash and Cash Equivalents | 5.0 | (0.2) | ||||||||||||||||||||||||||
Net Increase in Cash and Cash Equivalents | Net Increase in Cash and Cash Equivalents | 31.8 | 24.0 | |||||||||||||||||||||||||
Cash and Cash Equivalents at Beginning of Period | Cash and Cash Equivalents at Beginning of Period | 13.2 | 1.6 | Cash and Cash Equivalents at Beginning of Period | 13.2 | 1.6 | ||||||||||||||||||||||
Cash and Cash Equivalents at End of Period | Cash and Cash Equivalents at End of Period | $ | 18.2 | $ | 1.4 | Cash and Cash Equivalents at End of Period | $ | 45.0 | $ | 25.6 | ||||||||||||||||||
SUPPLEMENTARY INFORMATION | SUPPLEMENTARY INFORMATION | SUPPLEMENTARY INFORMATION | ||||||||||||||||||||||||||
Cash Paid for Interest, Net of Capitalized Amounts | Cash Paid for Interest, Net of Capitalized Amounts | $ | 39.7 | $ | 40.7 | Cash Paid for Interest, Net of Capitalized Amounts | $ | 98.0 | $ | 95.2 | ||||||||||||||||||
Net Cash Paid (Received) for Income Taxes | Net Cash Paid (Received) for Income Taxes | (11.3) | 11.9 | |||||||||||||||||||||||||
Noncash Acquisitions Under Finance Leases | Noncash Acquisitions Under Finance Leases | 4.4 | 5.9 | |||||||||||||||||||||||||
Construction Expenditures Included in Current Liabilities as of September 30, | Construction Expenditures Included in Current Liabilities as of September 30, | 46.8 | 50.6 | |||||||||||||||||||||||||
Noncash Acquisitions Under Finance Leases | 1.5 | 3.0 | ||||||||||||||||||||||||||
Construction Expenditures Included in Current Liabilities as of March 31, | 40.2 | 45.2 | ||||||||||||||||||||||||||
Note | Registrant | Page Number | ||||||||||||
Significant Accounting Matters | AEP, AEP Texas, AEPTCo, APCo, I&M, OPCo, PSO, SWEPCo | |||||||||||||
New Accounting Standards | AEP, AEP Texas, AEPTCo, APCo, I&M, OPCo, PSO, SWEPCo | |||||||||||||
Comprehensive Income | AEP, AEP Texas, APCo, I&M, | |||||||||||||
Rate Matters | AEP, AEP Texas, AEPTCo, APCo, I&M, OPCo, PSO, SWEPCo | |||||||||||||
Commitments, Guarantees and Contingencies | AEP, AEP Texas, AEPTCo, APCo, I&M, OPCo, PSO, SWEPCo | |||||||||||||
Acquisitions and Dispositions | AEP, | |||||||||||||
Benefit Plans | AEP, AEP Texas, APCo, I&M, OPCo, PSO, SWEPCo | |||||||||||||
Business Segments | AEP, AEP Texas, AEPTCo, APCo, I&M, OPCo, PSO, SWEPCo | |||||||||||||
Derivatives and Hedging | AEP, AEP Texas, APCo, I&M, OPCo, PSO, SWEPCo | |||||||||||||
Fair Value Measurements | AEP, AEP Texas, AEPTCo, APCo, I&M, OPCo, PSO, SWEPCo | |||||||||||||
Income Taxes | AEP, AEP Texas, AEPTCo, APCo, I&M, OPCo, PSO, SWEPCo | |||||||||||||
Financing Activities | AEP, AEP Texas, AEPTCo, APCo, I&M, OPCo, PSO, SWEPCo | |||||||||||||
Property, Plant and Equipment | AEP, APCo | |||||||||||||
Revenue from Contracts with Customers | AEP, AEP Texas, AEPTCo, APCo, I&M, OPCo, PSO, SWEPCo | |||||||||||||
Subsequent Events | AEP, AEPTCo |
Three Months Ended March 31, | Three Months Ended September 30, | |||||||||||||||||||||||||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | |||||||||||||||||||||||||||||||||||||||||||
(in millions, except per share data) | (in millions, except per share data) | |||||||||||||||||||||||||||||||||||||||||||||
$/share | $/share | $/share | $/share | |||||||||||||||||||||||||||||||||||||||||||
Earnings Attributable to AEP Common Shareholders | Earnings Attributable to AEP Common Shareholders | $ | 575.0 | $ | 495.2 | Earnings Attributable to AEP Common Shareholders | $ | 796.0 | $ | 748.6 | ||||||||||||||||||||||||||||||||||||
Weighted-Average Number of Basic AEP Common Shares Outstanding | Weighted-Average Number of Basic AEP Common Shares Outstanding | 497.1 | $ | 1.16 | 494.6 | $ | 1.00 | Weighted-Average Number of Basic AEP Common Shares Outstanding | 501.2 | $ | 1.59 | 496.2 | $ | 1.51 | ||||||||||||||||||||||||||||||||
Weighted-Average Dilutive Effect of Stock-Based Awards | Weighted-Average Dilutive Effect of Stock-Based Awards | 1.1 | (0.01) | 2.0 | 0 | Weighted-Average Dilutive Effect of Stock-Based Awards | 1.4 | (0.01) | 1.3 | (0.01) | ||||||||||||||||||||||||||||||||||||
Weighted-Average Number of Diluted AEP Common Shares Outstanding | Weighted-Average Number of Diluted AEP Common Shares Outstanding | 498.2 | $ | 1.15 | 496.6 | $ | 1.00 | Weighted-Average Number of Diluted AEP Common Shares Outstanding | 502.6 | $ | 1.58 | 497.5 | $ | 1.50 |
Nine Months Ended September 30, | |||||||||||||||||||||||
2021 | 2020 | ||||||||||||||||||||||
(in millions, except per share data) | |||||||||||||||||||||||
$/share | $/share | ||||||||||||||||||||||
Earnings Attributable to AEP Common Shareholders | $ | 1,949.2 | $ | 1,764.6 | |||||||||||||||||||
Weighted-Average Number of Basic AEP Common Shares Outstanding | 499.4 | $ | 3.90 | 495.5 | $ | 3.56 | |||||||||||||||||
Weighted-Average Dilutive Effect of Stock-Based Awards | 1.2 | (0.01) | 1.4 | (0.01) | |||||||||||||||||||
Weighted-Average Number of Diluted AEP Common Shares Outstanding | 500.6 | $ | 3.89 | 496.9 | $ | 3.55 |
March 31, 2021 | September 30, 2021 | |||||||||||||||||||||||||||||||||||||||
AEP | AEP Texas | APCo | AEP | AEP Texas | APCo | |||||||||||||||||||||||||||||||||||
(in millions) | (in millions) | |||||||||||||||||||||||||||||||||||||||
Cash and Cash Equivalents | Cash and Cash Equivalents | $ | 273.2 | $ | 0.1 | $ | 4.8 | Cash and Cash Equivalents | $ | 1,372.7 | $ | 0.1 | $ | 5.0 | ||||||||||||||||||||||||||
Restricted Cash | Restricted Cash | 50.8 | 39.3 | 11.6 | Restricted Cash | 54.0 | 43.9 | 10.1 | ||||||||||||||||||||||||||||||||
Total Cash, Cash Equivalents and Restricted Cash | Total Cash, Cash Equivalents and Restricted Cash | $ | 324.0 | $ | 39.4 | $ | 16.4 | Total Cash, Cash Equivalents and Restricted Cash | $ | 1,426.7 | $ | 44.0 | $ | 15.1 |
December 31, 2020 | ||||||||||||||||||||
AEP | AEP Texas | APCo | ||||||||||||||||||
(in millions) | ||||||||||||||||||||
Cash and Cash Equivalents | $ | 392.7 | $ | 0.1 | $ | 5.8 | ||||||||||||||
Restricted Cash | 45.6 | 28.7 | 16.9 | |||||||||||||||||
Total Cash, Cash Equivalents and Restricted Cash | $ | 438.3 | $ | 28.8 | $ | 22.7 |
Cash Flow Hedges | Pension | Cash Flow Hedges | Pension | |||||||||||||||||||||||||||||||||||||||||||||||||
Three Months Ended March 31, 2021 | Commodity | Interest Rate | and OPEB | Total | ||||||||||||||||||||||||||||||||||||||||||||||||
Three Months Ended September 30, 2021 | Three Months Ended September 30, 2021 | Commodity | Interest Rate | and OPEB | Total | |||||||||||||||||||||||||||||||||||||||||||||||
(in millions) | (in millions) | |||||||||||||||||||||||||||||||||||||||||||||||||||
Balance in AOCI as of December 31, 2020 | $ | (60.6) | $ | (47.5) | $ | 23.0 | $ | (85.1) | ||||||||||||||||||||||||||||||||||||||||||||
Balance in AOCI as of June 30, 2021 | Balance in AOCI as of June 30, 2021 | $ | 110.3 | $ | (32.2) | $ | 18.9 | $ | 97.0 | |||||||||||||||||||||||||||||||||||||||||||
Change in Fair Value Recognized in AOCI | Change in Fair Value Recognized in AOCI | 177.3 | 13.1 | (a) | 0 | 190.4 | Change in Fair Value Recognized in AOCI | 220.8 | 4.9 | (a) | — | 225.7 | ||||||||||||||||||||||||||||||||||||||||
Amount of (Gain) Loss Reclassified from AOCI | Amount of (Gain) Loss Reclassified from AOCI | Amount of (Gain) Loss Reclassified from AOCI | ||||||||||||||||||||||||||||||||||||||||||||||||||
Generation & Marketing Revenues (b) | 0.8 | 0 | 0 | 0.8 | ||||||||||||||||||||||||||||||||||||||||||||||||
Purchased Electricity for Resale (b) | Purchased Electricity for Resale (b) | (172.0) | 0 | 0 | (172.0) | Purchased Electricity for Resale (b) | (59.7) | — | — | (59.7) | ||||||||||||||||||||||||||||||||||||||||||
Interest Expense (b) | Interest Expense (b) | 0 | 1.5 | 0 | 1.5 | Interest Expense (b) | — | 1.5 | — | 1.5 | ||||||||||||||||||||||||||||||||||||||||||
Amortization of Prior Service Cost (Credit) | Amortization of Prior Service Cost (Credit) | 0 | 0 | (4.8) | (4.8) | Amortization of Prior Service Cost (Credit) | — | — | (4.8) | (4.8) | ||||||||||||||||||||||||||||||||||||||||||
Amortization of Actuarial (Gains) Losses | Amortization of Actuarial (Gains) Losses | 0 | 0 | 2.3 | 2.3 | Amortization of Actuarial (Gains) Losses | — | — | 2.3 | 2.3 | ||||||||||||||||||||||||||||||||||||||||||
Reclassifications from AOCI, before Income Tax (Expense) Benefit | Reclassifications from AOCI, before Income Tax (Expense) Benefit | (171.2) | 1.5 | (2.5) | (172.2) | Reclassifications from AOCI, before Income Tax (Expense) Benefit | (59.7) | 1.5 | (2.5) | (60.7) | ||||||||||||||||||||||||||||||||||||||||||
Income Tax (Expense) Benefit | Income Tax (Expense) Benefit | (36.0) | 0.4 | (0.5) | (36.1) | Income Tax (Expense) Benefit | (12.5) | 0.3 | (0.5) | (12.7) | ||||||||||||||||||||||||||||||||||||||||||
Reclassifications from AOCI, Net of Income Tax (Expense) Benefit | Reclassifications from AOCI, Net of Income Tax (Expense) Benefit | (135.2) | 1.1 | (2.0) | (136.1) | Reclassifications from AOCI, Net of Income Tax (Expense) Benefit | (47.2) | 1.2 | (2.0) | (48.0) | ||||||||||||||||||||||||||||||||||||||||||
Net Current Period Other Comprehensive Income (Loss) | Net Current Period Other Comprehensive Income (Loss) | 42.1 | 14.2 | (2.0) | 54.3 | Net Current Period Other Comprehensive Income (Loss) | 173.6 | 6.1 | (2.0) | 177.7 | ||||||||||||||||||||||||||||||||||||||||||
Balance in AOCI as of March 31, 2021 | $ | (18.5) | $ | (33.3) | $ | 21.0 | $ | (30.8) | ||||||||||||||||||||||||||||||||||||||||||||
Balance in AOCI as of September 30, 2021 | Balance in AOCI as of September 30, 2021 | $ | 283.9 | $ | (26.1) | $ | 16.9 | $ | 274.7 |
Cash Flow Hedges | Pension | Cash Flow Hedges | Pension | |||||||||||||||||||||||||||||||||||||||||||||||||
Three Months Ended March 31, 2020 | Commodity | Interest Rate | and OPEB | Total | ||||||||||||||||||||||||||||||||||||||||||||||||
Three Months Ended September 30, 2020 | Three Months Ended September 30, 2020 | Commodity | Interest Rate | and OPEB | Total | |||||||||||||||||||||||||||||||||||||||||||||||
(in millions) | (in millions) | |||||||||||||||||||||||||||||||||||||||||||||||||||
Balance in AOCI as of December 31, 2019 | $ | (103.5) | $ | (11.5) | $ | (32.7) | $ | (147.7) | ||||||||||||||||||||||||||||||||||||||||||||
Balance in AOCI as of June 30, 2020 | Balance in AOCI as of June 30, 2020 | $ | (81.4) | $ | (55.3) | $ | (36.2) | $ | (172.9) | |||||||||||||||||||||||||||||||||||||||||||
Change in Fair Value Recognized in AOCI | Change in Fair Value Recognized in AOCI | (65.3) | (42.7) | (a) | 0 | (108.0) | Change in Fair Value Recognized in AOCI | 10.2 | 1.9 | (a) | — | 12.1 | ||||||||||||||||||||||||||||||||||||||||
Amount of (Gain) Loss Reclassified from AOCI | Amount of (Gain) Loss Reclassified from AOCI | Amount of (Gain) Loss Reclassified from AOCI | ||||||||||||||||||||||||||||||||||||||||||||||||||
Generation & Marketing Revenues (b) | Generation & Marketing Revenues (b) | (0.1) | 0 | 0 | (0.1) | Generation & Marketing Revenues (b) | (0.1) | — | — | (0.1) | ||||||||||||||||||||||||||||||||||||||||||
Purchased Electricity for Resale (b) | Purchased Electricity for Resale (b) | 51.1 | 0 | 0 | 51.1 | Purchased Electricity for Resale (b) | 33.3 | — | — | 33.3 | ||||||||||||||||||||||||||||||||||||||||||
Interest Expense (b) | Interest Expense (b) | 0 | 0.9 | 0 | 0.9 | Interest Expense (b) | — | 1.3 | — | 1.3 | ||||||||||||||||||||||||||||||||||||||||||
Amortization of Prior Service Cost (Credit) | Amortization of Prior Service Cost (Credit) | 0 | 0 | (4.9) | (4.9) | Amortization of Prior Service Cost (Credit) | — | — | (4.9) | (4.9) | ||||||||||||||||||||||||||||||||||||||||||
Amortization of Actuarial (Gains) Losses | Amortization of Actuarial (Gains) Losses | 0 | 0 | 2.6 | 2.6 | Amortization of Actuarial (Gains) Losses | — | — | 2.6 | 2.6 | ||||||||||||||||||||||||||||||||||||||||||
Reclassifications from AOCI, before Income Tax (Expense) Benefit | Reclassifications from AOCI, before Income Tax (Expense) Benefit | 51.0 | 0.9 | (2.3) | 49.6 | Reclassifications from AOCI, before Income Tax (Expense) Benefit | 33.2 | 1.3 | (2.3) | 32.2 | ||||||||||||||||||||||||||||||||||||||||||
Income Tax (Expense) Benefit | Income Tax (Expense) Benefit | 10.7 | 0.2 | (0.5) | 10.4 | Income Tax (Expense) Benefit | 7.1 | 0.2 | (0.5) | 6.8 | ||||||||||||||||||||||||||||||||||||||||||
Reclassifications from AOCI, Net of Income Tax (Expense) Benefit | Reclassifications from AOCI, Net of Income Tax (Expense) Benefit | 40.3 | 0.7 | (1.8) | 39.2 | Reclassifications from AOCI, Net of Income Tax (Expense) Benefit | 26.1 | 1.1 | (1.8) | 25.4 | ||||||||||||||||||||||||||||||||||||||||||
Net Current Period Other Comprehensive Income (Loss) | Net Current Period Other Comprehensive Income (Loss) | (25.0) | (42.0) | (1.8) | (68.8) | Net Current Period Other Comprehensive Income (Loss) | 36.3 | 3.0 | (1.8) | 37.5 | ||||||||||||||||||||||||||||||||||||||||||
Balance in AOCI as of March 31, 2020 | $ | (128.5) | $ | (53.5) | $ | (34.5) | $ | (216.5) | ||||||||||||||||||||||||||||||||||||||||||||
Balance in AOCI as of September 30, 2020 | Balance in AOCI as of September 30, 2020 | $ | (45.1) | $ | (52.3) | $ | (38.0) | $ | (135.4) |
Cash Flow Hedges | Pension | |||||||||||||||||||||||||
Nine Months Ended September 30, 2021 | Commodity | Interest Rate | and OPEB | Total | ||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||||
Balance in AOCI as of December 31, 2020 | $ | (60.6) | $ | (47.5) | $ | 23.0 | $ | (85.1) | ||||||||||||||||||
Change in Fair Value Recognized in AOCI | 534.5 | 17.6 | (a) | — | 552.1 | |||||||||||||||||||||
Amount of (Gain) Loss Reclassified from AOCI | ||||||||||||||||||||||||||
Generation & Marketing Revenues (b) | 0.7 | — | — | 0.7 | ||||||||||||||||||||||
Purchased Electricity for Resale (b) | (241.2) | — | — | (241.2) | ||||||||||||||||||||||
Interest Expense (b) | — | 4.8 | — | 4.8 | ||||||||||||||||||||||
Amortization of Prior Service Cost (Credit) | — | — | (14.5) | (14.5) | ||||||||||||||||||||||
Amortization of Actuarial (Gains) Losses | — | — | 6.8 | 6.8 | ||||||||||||||||||||||
Reclassifications from AOCI, before Income Tax (Expense) Benefit | (240.5) | 4.8 | (7.7) | (243.4) | ||||||||||||||||||||||
Income Tax (Expense) Benefit | (50.5) | 1.0 | (1.6) | (51.1) | ||||||||||||||||||||||
Reclassifications from AOCI, Net of Income Tax (Expense) Benefit | (190.0) | 3.8 | (6.1) | (192.3) | ||||||||||||||||||||||
Net Current Period Other Comprehensive Income (Loss) | 344.5 | 21.4 | (6.1) | 359.8 | ||||||||||||||||||||||
Balance in AOCI as of September 30, 2021 | $ | 283.9 | $ | (26.1) | $ | 16.9 | $ | 274.7 |
Cash Flow Hedges | Pension | |||||||||||||||||||||||||
Nine Months Ended September 30, 2020 | Commodity | Interest Rate | and OPEB | Total | ||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||||
Balance in AOCI as of December 31, 2019 | $ | (103.5) | $ | (11.5) | $ | (32.7) | $ | (147.7) | ||||||||||||||||||
Change in Fair Value Recognized in AOCI | (48.6) | (43.6) | (a) | — | (92.2) | |||||||||||||||||||||
Amount of (Gain) Loss Reclassified from AOCI | ||||||||||||||||||||||||||
Generation & Marketing Revenues (b) | (0.3) | — | — | (0.3) | ||||||||||||||||||||||
Purchased Electricity for Resale (b) | 135.7 | — | — | 135.7 | ||||||||||||||||||||||
Interest Expense (b) | — | 3.6 | — | 3.6 | ||||||||||||||||||||||
Amortization of Prior Service Cost (Credit) | — | — | (14.4) | (14.4) | ||||||||||||||||||||||
Amortization of Actuarial (Gains) Losses | — | — | 7.7 | 7.7 | ||||||||||||||||||||||
Reclassifications from AOCI, before Income Tax (Expense) Benefit | 135.4 | 3.6 | (6.7) | 132.3 | ||||||||||||||||||||||
Income Tax (Expense) Benefit | 28.4 | 0.8 | (1.4) | 27.8 | ||||||||||||||||||||||
Reclassifications from AOCI, Net of Income Tax (Expense) Benefit | 107.0 | 2.8 | (5.3) | 104.5 | ||||||||||||||||||||||
Net Current Period Other Comprehensive Income (Loss) | 58.4 | (40.8) | (5.3) | 12.3 | ||||||||||||||||||||||
Balance in AOCI as of September 30, 2020 | $ | (45.1) | $ | (52.3) | $ | (38.0) | $ | (135.4) |
Cash Flow Hedge – | Pension | Cash Flow Hedge – | Pension | |||||||||||||||||||||||||||||||||||||||||||||||||
Three Months Ended March 31, 2021 | Interest Rate | and OPEB | Total | |||||||||||||||||||||||||||||||||||||||||||||||||
Three Months Ended September 30, 2021 | Three Months Ended September 30, 2021 | Interest Rate | and OPEB | Total | ||||||||||||||||||||||||||||||||||||||||||||||||
(in millions) | (in millions) | |||||||||||||||||||||||||||||||||||||||||||||||||||
Balance in AOCI as of December 31, 2020 | $ | (2.3) | $ | (6.6) | $ | (8.9) | ||||||||||||||||||||||||||||||||||||||||||||||
Balance in AOCI as of June 30, 2021 | Balance in AOCI as of June 30, 2021 | $ | (1.8) | $ | (6.5) | $ | (8.3) | |||||||||||||||||||||||||||||||||||||||||||||
Change in Fair Value Recognized in AOCI | Change in Fair Value Recognized in AOCI | 0.1 | 0 | 0.1 | Change in Fair Value Recognized in AOCI | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||
Amount of (Gain) Loss Reclassified from AOCI | Amount of (Gain) Loss Reclassified from AOCI | Amount of (Gain) Loss Reclassified from AOCI | ||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Expense (b) | Interest Expense (b) | 0.3 | 0 | 0.3 | Interest Expense (b) | 0.4 | — | 0.4 | ||||||||||||||||||||||||||||||||||||||||||||
Amortization of Prior Service Cost (Credit) | Amortization of Prior Service Cost (Credit) | — | (0.1) | (0.1) | ||||||||||||||||||||||||||||||||||||||||||||||||
Amortization of Actuarial (Gains) Losses | Amortization of Actuarial (Gains) Losses | — | 0.1 | 0.1 | ||||||||||||||||||||||||||||||||||||||||||||||||
Reclassifications from AOCI, before Income Tax (Expense) Benefit | Reclassifications from AOCI, before Income Tax (Expense) Benefit | 0.3 | 0 | 0.3 | Reclassifications from AOCI, before Income Tax (Expense) Benefit | 0.4 | — | 0.4 | ||||||||||||||||||||||||||||||||||||||||||||
Income Tax (Expense) Benefit | Income Tax (Expense) Benefit | 0.1 | 0 | 0.1 | Income Tax (Expense) Benefit | 0.1 | — | 0.1 | ||||||||||||||||||||||||||||||||||||||||||||
Reclassifications from AOCI, Net of Income Tax (Expense) Benefit | Reclassifications from AOCI, Net of Income Tax (Expense) Benefit | 0.2 | 0 | 0.2 | Reclassifications from AOCI, Net of Income Tax (Expense) Benefit | 0.3 | — | 0.3 | ||||||||||||||||||||||||||||||||||||||||||||
Net Current Period Other Comprehensive Income (Loss) | Net Current Period Other Comprehensive Income (Loss) | 0.3 | 0 | 0.3 | Net Current Period Other Comprehensive Income (Loss) | 0.3 | — | 0.3 | ||||||||||||||||||||||||||||||||||||||||||||
Balance in AOCI as of March 31, 2021 | $ | (2.0) | $ | (6.6) | $ | (8.6) | ||||||||||||||||||||||||||||||||||||||||||||||
Balance in AOCI as of September 30, 2021 | Balance in AOCI as of September 30, 2021 | $ | (1.5) | $ | (6.5) | $ | (8.0) |
Cash Flow Hedge – | Pension | Cash Flow Hedge – | Pension | |||||||||||||||||||||||||||||||||||||||||||||||||
Three Months Ended March 31, 2020 | Interest Rate | and OPEB | Total | |||||||||||||||||||||||||||||||||||||||||||||||||
Three Months Ended September 30, 2020 | Three Months Ended September 30, 2020 | Interest Rate | and OPEB | Total | ||||||||||||||||||||||||||||||||||||||||||||||||
(in millions) | (in millions) | |||||||||||||||||||||||||||||||||||||||||||||||||||
Balance in AOCI as of December 31, 2019 | $ | (3.4) | $ | (9.4) | $ | (12.8) | ||||||||||||||||||||||||||||||||||||||||||||||
Balance in AOCI as of June 30, 2020 | Balance in AOCI as of June 30, 2020 | $ | (2.9) | $ | (9.3) | $ | (12.2) | |||||||||||||||||||||||||||||||||||||||||||||
Change in Fair Value Recognized in AOCI | Change in Fair Value Recognized in AOCI | 0 | 0 | 0 | Change in Fair Value Recognized in AOCI | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||
Amount of (Gain) Loss Reclassified from AOCI | Amount of (Gain) Loss Reclassified from AOCI | Amount of (Gain) Loss Reclassified from AOCI | ||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Expense (b) | Interest Expense (b) | 0.4 | 0 | 0.4 | Interest Expense (b) | 0.4 | — | 0.4 | ||||||||||||||||||||||||||||||||||||||||||||
Amortization of Prior Service Cost (Credit) | Amortization of Prior Service Cost (Credit) | — | (0.1) | (0.1) | ||||||||||||||||||||||||||||||||||||||||||||||||
Amortization of Actuarial (Gains) Losses | Amortization of Actuarial (Gains) Losses | — | 0.1 | 0.1 | ||||||||||||||||||||||||||||||||||||||||||||||||
Reclassifications from AOCI, before Income Tax (Expense) Benefit | Reclassifications from AOCI, before Income Tax (Expense) Benefit | 0.4 | 0 | 0.4 | Reclassifications from AOCI, before Income Tax (Expense) Benefit | 0.4 | — | 0.4 | ||||||||||||||||||||||||||||||||||||||||||||
Income Tax (Expense) Benefit | Income Tax (Expense) Benefit | 0.1 | 0 | 0.1 | Income Tax (Expense) Benefit | 0.1 | — | 0.1 | ||||||||||||||||||||||||||||||||||||||||||||
Reclassifications from AOCI, Net of Income Tax (Expense) Benefit | Reclassifications from AOCI, Net of Income Tax (Expense) Benefit | 0.3 | 0 | 0.3 | Reclassifications from AOCI, Net of Income Tax (Expense) Benefit | 0.3 | — | 0.3 | ||||||||||||||||||||||||||||||||||||||||||||
Net Current Period Other Comprehensive Income (Loss) | Net Current Period Other Comprehensive Income (Loss) | 0.3 | 0 | 0.3 | Net Current Period Other Comprehensive Income (Loss) | 0.3 | — | 0.3 | ||||||||||||||||||||||||||||||||||||||||||||
Balance in AOCI as of March 31, 2020 | $ | (3.1) | $ | (9.4) | $ | (12.5) | ||||||||||||||||||||||||||||||||||||||||||||||
Balance in AOCI as of September 30, 2020 | Balance in AOCI as of September 30, 2020 | $ | (2.6) | $ | (9.3) | $ | (11.9) |
Cash Flow Hedge – | Pension | |||||||||||||||||||||||||
Nine Months Ended September 30, 2021 | Interest Rate | and OPEB | Total | |||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||||
Balance in AOCI as of December 31, 2020 | $ | (2.3) | $ | (6.6) | $ | (8.9) | ||||||||||||||||||||
Change in Fair Value Recognized in AOCI | — | — | — | |||||||||||||||||||||||
Amount of (Gain) Loss Reclassified from AOCI | ||||||||||||||||||||||||||
Interest Expense (b) | 1.0 | — | 1.0 | |||||||||||||||||||||||
Amortization of Prior Service Cost (Credit) | — | (0.1) | (0.1) | |||||||||||||||||||||||
Amortization of Actuarial (Gains) Losses | — | 0.2 | 0.2 | |||||||||||||||||||||||
Reclassifications from AOCI, before Income Tax (Expense) Benefit | 1.0 | 0.1 | 1.1 | |||||||||||||||||||||||
Income Tax (Expense) Benefit | 0.2 | — | 0.2 | |||||||||||||||||||||||
Reclassifications from AOCI, Net of Income Tax (Expense) Benefit | 0.8 | 0.1 | 0.9 | |||||||||||||||||||||||
Net Current Period Other Comprehensive Income (Loss) | 0.8 | 0.1 | 0.9 | |||||||||||||||||||||||
Balance in AOCI as of September 30, 2021 | $ | (1.5) | $ | (6.5) | $ | (8.0) |
Cash Flow Hedge – | Pension | |||||||||||||||||||||||||
Nine Months Ended September 30, 2020 | Interest Rate | and OPEB | Total | |||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||||
Balance in AOCI as of December 31, 2019 | $ | (3.4) | $ | (9.4) | $ | (12.8) | ||||||||||||||||||||
Change in Fair Value Recognized in AOCI | — | — | — | |||||||||||||||||||||||
Amount of (Gain) Loss Reclassified from AOCI | ||||||||||||||||||||||||||
Interest Expense (b) | 1.0 | — | 1.0 | |||||||||||||||||||||||
Amortization of Prior Service Cost (Credit) | — | (0.1) | (0.1) | |||||||||||||||||||||||
Amortization of Actuarial (Gains) Losses | — | 0.2 | 0.2 | |||||||||||||||||||||||
Reclassifications from AOCI, before Income Tax (Expense) Benefit | 1.0 | 0.1 | 1.1 | |||||||||||||||||||||||
Income Tax (Expense) Benefit | 0.2 | — | 0.2 | |||||||||||||||||||||||
Reclassifications from AOCI, Net of Income Tax (Expense) Benefit | 0.8 | 0.1 | 0.9 | |||||||||||||||||||||||
Net Current Period Other Comprehensive Income (Loss) | 0.8 | 0.1 | 0.9 | |||||||||||||||||||||||
Balance in AOCI as of September 30, 2020 | $ | (2.6) | $ | (9.3) | $ | (11.9) |
Cash Flow Hedge – | Pension | |||||||||||||||||||||||||
Three Months Ended September 30, 2021 | Interest Rate | and OPEB | Total | |||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||||
Balance in AOCI as of June 30, 2021 | $ | 8.0 | $ | 5.9 | $ | 13.9 | ||||||||||||||||||||
Change in Fair Value Recognized in AOCI | 0.2 | — | 0.2 | |||||||||||||||||||||||
Amount of (Gain) Loss Reclassified from AOCI | ||||||||||||||||||||||||||
Interest Expense (b) | (0.6) | — | (0.6) | |||||||||||||||||||||||
Amortization of Prior Service Cost (Credit) | — | (1.2) | (1.2) | |||||||||||||||||||||||
Reclassifications from AOCI, before Income Tax (Expense) Benefit | (0.6) | (1.2) | (1.8) | |||||||||||||||||||||||
Income Tax (Expense) Benefit | (0.1) | (0.2) | (0.3) | |||||||||||||||||||||||
Reclassifications from AOCI, Net of Income Tax (Expense) Benefit | (0.5) | (1.0) | (1.5) | |||||||||||||||||||||||
Net Current Period Other Comprehensive Income (Loss) | (0.3) | (1.0) | (1.3) | |||||||||||||||||||||||
Balance in AOCI as of September 30, 2021 | $ | 7.7 | $ | 4.9 | $ | 12.6 |
Cash Flow Hedge – | Pension | |||||||||||||||||||||||||
Three Months Ended September 30, 2020 | Interest Rate | and OPEB | Total | |||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||||
Balance in AOCI as of June 30, 2020 | $ | (4.1) | $ | 2.2 | $ | (1.9) | ||||||||||||||||||||
Change in Fair Value Recognized in AOCI | 0.7 | — | 0.7 | |||||||||||||||||||||||
Amount of (Gain) Loss Reclassified from AOCI | ||||||||||||||||||||||||||
Interest Expense (b) | (0.2) | — | (0.2) | |||||||||||||||||||||||
Amortization of Prior Service Cost (Credit) | — | (1.3) | (1.3) | |||||||||||||||||||||||
Amortization of Actuarial (Gains) Losses | — | 0.1 | 0.1 | |||||||||||||||||||||||
Reclassifications from AOCI, before Income Tax (Expense) Benefit | (0.2) | (1.2) | (1.4) | |||||||||||||||||||||||
Income Tax (Expense) Benefit | (0.1) | (0.3) | (0.4) | |||||||||||||||||||||||
Reclassifications from AOCI, Net of Income Tax (Expense) Benefit | (0.1) | (0.9) | (1.0) | |||||||||||||||||||||||
Net Current Period Other Comprehensive Income (Loss) | 0.6 | (0.9) | (0.3) | |||||||||||||||||||||||
Balance in AOCI as of September 30, 2020 | $ | (3.5) | $ | 1.3 | $ | (2.2) |
APCo | ||||||||||||||||||||||||||
Cash Flow Hedge – | Pension | |||||||||||||||||||||||||
Nine Months Ended September 30, 2021 | Interest Rate | and OPEB | Total | |||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||||
Balance in AOCI as of December 31, 2020 | $ | (0.8) | $ | 8.0 | $ | 7.2 | ||||||||||||||||||||
Change in Fair Value Recognized in AOCI | 9.3 | — | 9.3 | |||||||||||||||||||||||
Amount of (Gain) Loss Reclassified from AOCI | ||||||||||||||||||||||||||
Interest Expense (b) | (1.0) | — | (1.0) | |||||||||||||||||||||||
Amortization of Prior Service Cost (Credit) | — | (3.9) | (3.9) | |||||||||||||||||||||||
Reclassifications from AOCI, before Income Tax (Expense) Benefit | (1.0) | (3.9) | (4.9) | |||||||||||||||||||||||
Income Tax (Expense) Benefit | (0.2) | (0.8) | (1.0) | |||||||||||||||||||||||
Reclassifications from AOCI, Net of Income Tax (Expense) Benefit | (0.8) | (3.1) | (3.9) | |||||||||||||||||||||||
Net Current Period Other Comprehensive Income (Loss) | 8.5 | (3.1) | 5.4 | |||||||||||||||||||||||
Balance in AOCI as of September 30, 2021 | $ | 7.7 | $ | 4.9 | $ | 12.6 |
Cash Flow Hedge – | Pension | |||||||||||||||||||||||||
Nine Months Ended September 30, 2020 | Interest Rate | and OPEB | Total | |||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||||
Balance in AOCI as of December 31, 2019 | $ | 0.9 | $ | 4.1 | $ | 5.0 | ||||||||||||||||||||
Change in Fair Value Recognized in AOCI | (3.8) | — | (3.8) | |||||||||||||||||||||||
Amount of (Gain) Loss Reclassified from AOCI | ||||||||||||||||||||||||||
Interest Expense (b) | (0.8) | — | (0.8) | |||||||||||||||||||||||
Amortization of Prior Service Cost (Credit) | — | (4.0) | (4.0) | |||||||||||||||||||||||
Amortization of Actuarial (Gains) Losses | — | 0.4 | 0.4 | |||||||||||||||||||||||
Reclassifications from AOCI, before Income Tax (Expense) Benefit | (0.8) | (3.6) | (4.4) | |||||||||||||||||||||||
Income Tax (Expense) Benefit | (0.2) | (0.8) | (1.0) | |||||||||||||||||||||||
Reclassifications from AOCI, Net of Income Tax (Expense) Benefit | (0.6) | (2.8) | (3.4) | |||||||||||||||||||||||
Net Current Period Other Comprehensive Income (Loss) | (4.4) | (2.8) | (7.2) | |||||||||||||||||||||||
Balance in AOCI as of September 30, 2020 | $ | (3.5) | $ | 1.3 | $ | (2.2) |
I&M | ||||||||||||||||||||||||||
Cash Flow Hedge – | Pension | |||||||||||||||||||||||||
Three Months Ended September 30, 2021 | Interest Rate | and OPEB | Total | |||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||||
Balance in AOCI as of June 30, 2021 | $ | (7.4) | $ | 1.2 | $ | (6.2) | ||||||||||||||||||||
Change in Fair Value Recognized in AOCI | — | — | — | |||||||||||||||||||||||
Amount of (Gain) Loss Reclassified from AOCI | ||||||||||||||||||||||||||
Interest Expense (b) | 0.5 | — | 0.5 | |||||||||||||||||||||||
Amortization of Prior Service Cost (Credit) | — | (0.2) | (0.2) | |||||||||||||||||||||||
Amortization of Actuarial (Gains) Losses | — | 0.2 | 0.2 | |||||||||||||||||||||||
Reclassifications from AOCI, before Income Tax (Expense) Benefit | 0.5 | — | 0.5 | |||||||||||||||||||||||
Income Tax (Expense) Benefit | 0.1 | — | 0.1 | |||||||||||||||||||||||
Reclassifications from AOCI, Net of Income Tax (Expense) Benefit | 0.4 | — | 0.4 | |||||||||||||||||||||||
Net Current Period Other Comprehensive Income (Loss) | 0.4 | — | 0.4 | |||||||||||||||||||||||
Balance in AOCI as of September 30, 2021 | $ | (7.0) | $ | 1.2 | $ | (5.8) |
Cash Flow Hedge – | Pension | |||||||||||||||||||||||||
Three Months Ended September 30, 2020 | Interest Rate | and OPEB | Total | |||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||||
Balance in AOCI as of June 30, 2020 | $ | (9.1) | $ | (1.7) | $ | (10.8) | ||||||||||||||||||||
Change in Fair Value Recognized in AOCI | — | — | — | |||||||||||||||||||||||
Amount of (Gain) Loss Reclassified from AOCI | ||||||||||||||||||||||||||
Interest Expense (b) | 0.5 | — | 0.5 | |||||||||||||||||||||||
Amortization of Prior Service Cost (Credit) | — | (0.3) | (0.3) | |||||||||||||||||||||||
Amortization of Actuarial (Gains) Losses | — | 0.2 | 0.2 | |||||||||||||||||||||||
Reclassifications from AOCI, before Income Tax (Expense) Benefit | 0.5 | (0.1) | 0.4 | |||||||||||||||||||||||
Income Tax (Expense) Benefit | 0.1 | — | 0.1 | |||||||||||||||||||||||
Reclassifications from AOCI, Net of Income Tax (Expense) Benefit | 0.4 | (0.1) | 0.3 | |||||||||||||||||||||||
Net Current Period Other Comprehensive Income (Loss) | 0.4 | (0.1) | 0.3 | |||||||||||||||||||||||
Balance in AOCI as of September 30, 2020 | $ | (8.7) | $ | (1.8) | $ | (10.5) |
I&M | ||||||||||||||||||||||||||
Cash Flow Hedge – | Pension | |||||||||||||||||||||||||
Nine Months Ended September 30, 2021 | Interest Rate | and OPEB | Total | |||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||||
Balance in AOCI as of December 31, 2020 | $ | (8.3) | $ | 1.3 | $ | (7.0) | ||||||||||||||||||||
Change in Fair Value Recognized in AOCI | — | — | — | |||||||||||||||||||||||
Amount of (Gain) Loss Reclassified from AOCI | ||||||||||||||||||||||||||
Interest Expense (b) | 1.6 | — | 1.6 | |||||||||||||||||||||||
Amortization of Prior Service Cost (Credit) | — | (0.6) | (0.6) | |||||||||||||||||||||||
Amortization of Actuarial (Gains) Losses | — | 0.5 | 0.5 | |||||||||||||||||||||||
Reclassifications from AOCI, before Income Tax (Expense) Benefit | 1.6 | (0.1) | 1.5 | |||||||||||||||||||||||
Income Tax (Expense) Benefit | 0.3 | — | 0.3 | |||||||||||||||||||||||
Reclassifications from AOCI, Net of Income Tax (Expense) Benefit | 1.3 | (0.1) | 1.2 | |||||||||||||||||||||||
Net Current Period Other Comprehensive Income (Loss) | 1.3 | (0.1) | 1.2 | |||||||||||||||||||||||
Balance in AOCI as of September 30, 2021 | $ | (7.0) | $ | 1.2 | $ | (5.8) |
Cash Flow Hedge – | Pension | |||||||||||||||||||||||||
Nine Months Ended September 30, 2020 | Interest Rate | and OPEB | Total | |||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||||
Balance in AOCI as of December 31, 2019 | $ | (9.9) | $ | (1.7) | $ | (11.6) | ||||||||||||||||||||
Change in Fair Value Recognized in AOCI | — | — | — | |||||||||||||||||||||||
Amount of (Gain) Loss Reclassified from AOCI | ||||||||||||||||||||||||||
Interest Expense (b) | 1.5 | — | 1.5 | |||||||||||||||||||||||
Amortization of Prior Service Cost (Credit) | — | (0.6) | (0.6) | |||||||||||||||||||||||
Amortization of Actuarial (Gains) Losses | — | 0.5 | 0.5 | |||||||||||||||||||||||
Reclassifications from AOCI, before Income Tax (Expense) Benefit | 1.5 | (0.1) | 1.4 | |||||||||||||||||||||||
Income Tax (Expense) Benefit | 0.3 | — | 0.3 | |||||||||||||||||||||||
Reclassifications from AOCI, Net of Income Tax (Expense) Benefit | 1.2 | (0.1) | 1.1 | |||||||||||||||||||||||
Net Current Period Other Comprehensive Income (Loss) | 1.2 | (0.1) | 1.1 | |||||||||||||||||||||||
Balance in AOCI as of September 30, 2020 | $ | (8.7) | $ | (1.8) | $ | (10.5) |
Cash Flow Hedge – | Pension | |||||||||||||||||||||||||
Three Months Ended March 31, 2021 | Interest Rate | and OPEB | Total | |||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||||
Balance in AOCI as of December 31, 2020 | $ | (0.8) | $ | 8.0 | $ | 7.2 | ||||||||||||||||||||
Change in Fair Value Recognized in AOCI | 9.3 | 0 | 9.3 | |||||||||||||||||||||||
Amount of (Gain) Loss Reclassified from AOCI | ||||||||||||||||||||||||||
Interest Expense (b) | (0.4) | 0 | (0.4) | |||||||||||||||||||||||
Amortization of Prior Service Cost (Credit) | 0 | (1.4) | (1.4) | |||||||||||||||||||||||
Reclassifications from AOCI, before Income Tax (Expense) Benefit | (0.4) | (1.4) | (1.8) | |||||||||||||||||||||||
Income Tax (Expense) Benefit | (0.1) | (0.3) | (0.4) | |||||||||||||||||||||||
Reclassifications from AOCI, Net of Income Tax (Expense) Benefit | (0.3) | (1.1) | (1.4) | |||||||||||||||||||||||
Net Current Period Other Comprehensive Income (Loss) | 9.0 | (1.1) | 7.9 | |||||||||||||||||||||||
Balance in AOCI as of March 31, 2021 | $ | 8.2 | $ | 6.9 | $ | 15.1 |
Cash Flow Hedge – | Pension | |||||||||||||||||||||||||
Three Months Ended March 31, 2020 | Interest Rate | and OPEB | Total | |||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||||
Balance in AOCI as of December 31, 2019 | $ | 0.9 | $ | 4.1 | $ | 5.0 | ||||||||||||||||||||
Change in Fair Value Recognized in AOCI | (3.9) | 0 | (3.9) | |||||||||||||||||||||||
Amount of (Gain) Loss Reclassified from AOCI | ||||||||||||||||||||||||||
Interest Expense (b) | (0.4) | 0 | (0.4) | |||||||||||||||||||||||
Amortization of Prior Service Cost (Credit) | 0 | (1.3) | (1.3) | |||||||||||||||||||||||
Amortization of Actuarial (Gains) Losses | 0 | 0.1 | 0.1 | |||||||||||||||||||||||
Reclassifications from AOCI, before Income Tax (Expense) Benefit | (0.4) | (1.2) | (1.6) | |||||||||||||||||||||||
Income Tax (Expense) Benefit | (0.1) | (0.3) | (0.4) | |||||||||||||||||||||||
Reclassifications from AOCI, Net of Income Tax (Expense) Benefit | (0.3) | (0.9) | (1.2) | |||||||||||||||||||||||
Net Current Period Other Comprehensive Income (Loss) | (4.2) | (0.9) | (5.1) | |||||||||||||||||||||||
Balance in AOCI as of March 31, 2020 | $ | (3.3) | $ | 3.2 | $ | (0.1) |
I&M | ||||||||||||||||||||||||||
Cash Flow Hedge – | Pension | |||||||||||||||||||||||||
Three Months Ended March 31, 2021 | Interest Rate | and OPEB | Total | |||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||||
Balance in AOCI as of December 31, 2020 | $ | (8.3) | $ | 1.3 | $ | (7.0) | ||||||||||||||||||||
Change in Fair Value Recognized in AOCI | 0 | 0 | 0 | |||||||||||||||||||||||
Amount of (Gain) Loss Reclassified from AOCI | ||||||||||||||||||||||||||
Interest Expense (b) | 0.6 | 0 | 0.6 | |||||||||||||||||||||||
Amortization of Prior Service Cost (Credit) | 0 | (0.2) | (0.2) | |||||||||||||||||||||||
Amortization of Actuarial (Gains) Losses | 0 | 0.2 | 0.2 | |||||||||||||||||||||||
Reclassifications from AOCI, before Income Tax (Expense) Benefit | 0.6 | 0 | 0.6 | |||||||||||||||||||||||
Income Tax (Expense) Benefit | 0.1 | 0 | 0.1 | |||||||||||||||||||||||
Reclassifications from AOCI, Net of Income Tax (Expense) Benefit | 0.5 | 0 | 0.5 | |||||||||||||||||||||||
Net Current Period Other Comprehensive Income (Loss) | 0.5 | 0 | 0.5 | |||||||||||||||||||||||
Balance in AOCI as of March 31, 2021 | $ | (7.8) | $ | 1.3 | $ | (6.5) |
Cash Flow Hedge – | Pension | |||||||||||||||||||||||||
Three Months Ended March 31, 2020 | Interest Rate | and OPEB | Total | |||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||||
Balance in AOCI as of December 31, 2019 | $ | (9.9) | $ | (1.7) | $ | (11.6) | ||||||||||||||||||||
Change in Fair Value Recognized in AOCI | 0 | 0 | 0 | |||||||||||||||||||||||
Amount of (Gain) Loss Reclassified from AOCI | ||||||||||||||||||||||||||
Interest Expense (b) | 0.5 | 0 | 0.5 | |||||||||||||||||||||||
Amortization of Prior Service Cost (Credit) | 0 | (0.2) | (0.2) | |||||||||||||||||||||||
Amortization of Actuarial (Gains) Losses | 0 | 0.2 | 0.2 | |||||||||||||||||||||||
Reclassifications from AOCI, before Income Tax (Expense) Benefit | 0.5 | 0 | 0.5 | |||||||||||||||||||||||
Income Tax (Expense) Benefit | 0.1 | 0 | 0.1 | |||||||||||||||||||||||
Reclassifications from AOCI, Net of Income Tax (Expense) Benefit | 0.4 | 0 | 0.4 | |||||||||||||||||||||||
Net Current Period Other Comprehensive Income (Loss) | 0.4 | 0 | 0.4 | |||||||||||||||||||||||
Balance in AOCI as of March 31, 2020 | $ | (9.5) | $ | (1.7) | $ | (11.2) |
PSO | ||||||||||||||||||||||||||
Cash Flow Hedge – | ||||||||||||||||||||||||||
Three Months Ended | Interest Rate | |||||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||||
Balance in AOCI as of June 30, 2021 | $ | — | ||||||||||||||||||||||||
Change in Fair Value Recognized in AOCI | — | |||||||||||||||||||||||||
Amount of (Gain) Loss Reclassified from AOCI | ||||||||||||||||||||||||||
Interest Expense (b) | — | |||||||||||||||||||||||||
Reclassifications from AOCI, before Income Tax (Expense) Benefit | — | |||||||||||||||||||||||||
Income Tax (Expense) Benefit | — | |||||||||||||||||||||||||
Reclassifications from AOCI, Net of Income Tax (Expense) Benefit | — | |||||||||||||||||||||||||
Net Current Period Other Comprehensive Income (Loss) | — | |||||||||||||||||||||||||
Balance in AOCI as of September 30, 2021 | $ | — |
Cash Flow Hedge – | ||||||||||||||||||||||||||
Three Months Ended September 30, 2020 | Interest Rate | |||||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||||
Balance in AOCI as of June 30, 2020 | $ | 0.6 | ||||||||||||||||||||||||
Change in Fair Value Recognized in AOCI | — | |||||||||||||||||||||||||
Amount of (Gain) Loss Reclassified from AOCI | ||||||||||||||||||||||||||
Interest Expense (b) | (0.3) | |||||||||||||||||||||||||
Reclassifications from AOCI, before Income Tax (Expense) Benefit | (0.3) | |||||||||||||||||||||||||
Income Tax (Expense) Benefit | — | |||||||||||||||||||||||||
Reclassifications from AOCI, Net of Income Tax (Expense) Benefit | (0.3) | |||||||||||||||||||||||||
Net Current Period Other Comprehensive Income (Loss) | (0.3) | |||||||||||||||||||||||||
Balance in AOCI as of September 30, 2020 | $ | 0.3 |
Cash Flow Hedge – | ||||||||||||||||||||||||||
Nine Months Ended September 30, 2021 | Interest Rate | |||||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||||
Balance in AOCI as of December 31, 2020 | $ | 0.1 | ||||||||||||||||||||||||
Change in Fair Value Recognized in AOCI | ||||||||||||||||||||||||||
Amount of (Gain) Loss Reclassified from AOCI | ||||||||||||||||||||||||||
Interest Expense (b) | (0.1) | |||||||||||||||||||||||||
Reclassifications from AOCI, before Income Tax (Expense) Benefit | (0.1) | |||||||||||||||||||||||||
Income Tax (Expense) Benefit | ||||||||||||||||||||||||||
Reclassifications from AOCI, Net of Income Tax (Expense) Benefit | (0.1) | |||||||||||||||||||||||||
Net Current Period Other Comprehensive Income (Loss) | (0.1) | |||||||||||||||||||||||||
Balance in AOCI as of | $ |
Cash Flow Hedge – | ||||||||||||||||||||||||||
Interest Rate | ||||||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||||
Balance in AOCI as of December 31, 2019 | $ | 1.1 | ||||||||||||||||||||||||
Change in Fair Value Recognized in AOCI | ||||||||||||||||||||||||||
Amount of (Gain) Loss Reclassified from AOCI | ||||||||||||||||||||||||||
Interest Expense (b) | ||||||||||||||||||||||||||
Reclassifications from AOCI, before Income Tax (Expense) Benefit | ||||||||||||||||||||||||||
Income Tax (Expense) Benefit | ||||||||||||||||||||||||||
Reclassifications from AOCI, Net of Income Tax (Expense) Benefit | ||||||||||||||||||||||||||
Net Current Period Other Comprehensive Income (Loss) | ||||||||||||||||||||||||||
Balance in AOCI as of | $ |
SWEPCo | SWEPCo | SWEPCo | ||||||||||||||||||||||||||||||||||||||||||||||||||
Cash Flow Hedge – | Pension | Cash Flow Hedge – | Pension | |||||||||||||||||||||||||||||||||||||||||||||||||
Three Months Ended March 31, 2021 | Interest Rate | and OPEB | Total | |||||||||||||||||||||||||||||||||||||||||||||||||
Three Months Ended September 30, 2021 | Three Months Ended September 30, 2021 | Interest Rate | and OPEB | Total | ||||||||||||||||||||||||||||||||||||||||||||||||
(in millions) | (in millions) | |||||||||||||||||||||||||||||||||||||||||||||||||||
Balance in AOCI as of December 31, 2020 | $ | (0.3) | $ | 2.2 | $ | 1.9 | ||||||||||||||||||||||||||||||||||||||||||||||
Balance in AOCI as of June 30, 2021 | Balance in AOCI as of June 30, 2021 | $ | 0.5 | $ | 1.4 | $ | 1.9 | |||||||||||||||||||||||||||||||||||||||||||||
Change in Fair Value Recognized in AOCI | Change in Fair Value Recognized in AOCI | 0 | 0 | 0 | Change in Fair Value Recognized in AOCI | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||
Amount of (Gain) Loss Reclassified from AOCI | Amount of (Gain) Loss Reclassified from AOCI | Amount of (Gain) Loss Reclassified from AOCI | ||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Expense (b) | Interest Expense (b) | 0.5 | 0 | 0.5 | Interest Expense (b) | 0.4 | — | 0.4 | ||||||||||||||||||||||||||||||||||||||||||||
Amortization of Prior Service Cost (Credit) | Amortization of Prior Service Cost (Credit) | 0 | (0.5) | (0.5) | Amortization of Prior Service Cost (Credit) | — | (0.5) | (0.5) | ||||||||||||||||||||||||||||||||||||||||||||
Reclassifications from AOCI, before Income Tax (Expense) Benefit | Reclassifications from AOCI, before Income Tax (Expense) Benefit | 0.5 | (0.5) | 0 | Reclassifications from AOCI, before Income Tax (Expense) Benefit | 0.4 | (0.5) | (0.1) | ||||||||||||||||||||||||||||||||||||||||||||
Income Tax (Expense) Benefit | Income Tax (Expense) Benefit | 0.1 | (0.1) | 0 | Income Tax (Expense) Benefit | 0.1 | (0.1) | — | ||||||||||||||||||||||||||||||||||||||||||||
Reclassifications from AOCI, Net of Income Tax (Expense) Benefit | Reclassifications from AOCI, Net of Income Tax (Expense) Benefit | 0.4 | (0.4) | 0 | Reclassifications from AOCI, Net of Income Tax (Expense) Benefit | 0.3 | (0.4) | (0.1) | ||||||||||||||||||||||||||||||||||||||||||||
Net Current Period Other Comprehensive Income (Loss) | Net Current Period Other Comprehensive Income (Loss) | 0.4 | (0.4) | 0 | Net Current Period Other Comprehensive Income (Loss) | 0.3 | (0.4) | (0.1) | ||||||||||||||||||||||||||||||||||||||||||||
Balance in AOCI as of March 31, 2021 | $ | 0.1 | $ | 1.8 | $ | 1.9 | ||||||||||||||||||||||||||||||||||||||||||||||
Balance in AOCI as of September 30, 2021 | Balance in AOCI as of September 30, 2021 | $ | 0.8 | $ | 1.0 | $ | 1.8 |
Cash Flow Hedge – | Pension | Cash Flow Hedge – | Pension | |||||||||||||||||||||||||||||||||||||||||||||||||
Three Months Ended March 31, 2020 | Interest Rate | and OPEB | Total | |||||||||||||||||||||||||||||||||||||||||||||||||
Three Months Ended September 30, 2020 | Three Months Ended September 30, 2020 | Interest Rate | and OPEB | Total | ||||||||||||||||||||||||||||||||||||||||||||||||
(in millions) | (in millions) | |||||||||||||||||||||||||||||||||||||||||||||||||||
Balance in AOCI as of December 31, 2019 | $ | (1.8) | $ | 0.5 | $ | (1.3) | ||||||||||||||||||||||||||||||||||||||||||||||
Balance in AOCI as of June 30, 2020 | Balance in AOCI as of June 30, 2020 | $ | (1.1) | $ | (0.2) | $ | (1.3) | |||||||||||||||||||||||||||||||||||||||||||||
Change in Fair Value Recognized in AOCI | Change in Fair Value Recognized in AOCI | 0 | 0 | 0 | Change in Fair Value Recognized in AOCI | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||
Amount of (Gain) Loss Reclassified from AOCI | Amount of (Gain) Loss Reclassified from AOCI | Amount of (Gain) Loss Reclassified from AOCI | ||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Expense (b) | Interest Expense (b) | 0.5 | 0 | 0.5 | Interest Expense (b) | 0.5 | — | 0.5 | ||||||||||||||||||||||||||||||||||||||||||||
Amortization of Prior Service Cost (Credit) | Amortization of Prior Service Cost (Credit) | 0 | (0.5) | (0.5) | Amortization of Prior Service Cost (Credit) | — | (0.5) | (0.5) | ||||||||||||||||||||||||||||||||||||||||||||
Amortization of Actuarial (Gains) Losses | Amortization of Actuarial (Gains) Losses | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||
Reclassifications from AOCI, before Income Tax (Expense) Benefit | Reclassifications from AOCI, before Income Tax (Expense) Benefit | 0.5 | (0.5) | 0 | Reclassifications from AOCI, before Income Tax (Expense) Benefit | 0.5 | (0.5) | — | ||||||||||||||||||||||||||||||||||||||||||||
Income Tax (Expense) Benefit | Income Tax (Expense) Benefit | 0.1 | (0.1) | 0 | Income Tax (Expense) Benefit | 0.1 | (0.1) | — | ||||||||||||||||||||||||||||||||||||||||||||
Reclassifications from AOCI, Net of Income Tax (Expense) Benefit | Reclassifications from AOCI, Net of Income Tax (Expense) Benefit | 0.4 | (0.4) | 0 | Reclassifications from AOCI, Net of Income Tax (Expense) Benefit | 0.4 | (0.4) | — | ||||||||||||||||||||||||||||||||||||||||||||
Net Current Period Other Comprehensive Income (Loss) | Net Current Period Other Comprehensive Income (Loss) | 0.4 | (0.4) | 0 | Net Current Period Other Comprehensive Income (Loss) | 0.4 | (0.4) | — | ||||||||||||||||||||||||||||||||||||||||||||
Balance in AOCI as of March 31, 2020 | $ | (1.4) | $ | 0.1 | $ | (1.3) | ||||||||||||||||||||||||||||||||||||||||||||||
Balance in AOCI as of September 30, 2020 | Balance in AOCI as of September 30, 2020 | $ | (0.7) | $ | (0.6) | $ | (1.3) |
SWEPCo | ||||||||||||||||||||||||||
Cash Flow Hedge – | Pension | |||||||||||||||||||||||||
Nine Months Ended September 30, 2021 | Interest Rate | and OPEB | Total | |||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||||
Balance in AOCI as of December 31, 2020 | $ | (0.3) | $ | 2.2 | $ | 1.9 | ||||||||||||||||||||
Change in Fair Value Recognized in AOCI | — | — | — | |||||||||||||||||||||||
Amount of (Gain) Loss Reclassified from AOCI | ||||||||||||||||||||||||||
Interest Expense (b) | 1.4 | — | 1.4 | |||||||||||||||||||||||
Amortization of Prior Service Cost (Credit) | — | (1.5) | (1.5) | |||||||||||||||||||||||
Reclassifications from AOCI, before Income Tax (Expense) Benefit | 1.4 | (1.5) | (0.1) | |||||||||||||||||||||||
Income Tax (Expense) Benefit | 0.3 | (0.3) | — | |||||||||||||||||||||||
Reclassifications from AOCI, Net of Income Tax (Expense) Benefit | 1.1 | (1.2) | (0.1) | |||||||||||||||||||||||
Net Current Period Other Comprehensive Income (Loss) | 1.1 | (1.2) | (0.1) | |||||||||||||||||||||||
Balance in AOCI as of September 30, 2021 | $ | 0.8 | $ | 1.0 | $ | 1.8 |
Cash Flow Hedge – | Pension | |||||||||||||||||||||||||
Nine Months Ended September 30, 2020 | Interest Rate | and OPEB | Total | |||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||||
Balance in AOCI as of December 31, 2019 | $ | (1.8) | $ | 0.5 | $ | (1.3) | ||||||||||||||||||||
Change in Fair Value Recognized in AOCI | — | — | — | |||||||||||||||||||||||
Amount of (Gain) Loss Reclassified from AOCI | ||||||||||||||||||||||||||
Interest Expense (b) | 1.4 | — | 1.4 | |||||||||||||||||||||||
Amortization of Prior Service Cost (Credit) | — | (1.5) | (1.5) | |||||||||||||||||||||||
Amortization of Actuarial (Gains) Losses | — | 0.1 | 0.1 | |||||||||||||||||||||||
Reclassifications from AOCI, before Income Tax (Expense) Benefit | 1.4 | (1.4) | — | |||||||||||||||||||||||
Income Tax (Expense) Benefit | 0.3 | (0.3) | — | |||||||||||||||||||||||
Reclassifications from AOCI, Net of Income Tax (Expense) Benefit | 1.1 | (1.1) | — | |||||||||||||||||||||||
Net Current Period Other Comprehensive Income (Loss) | 1.1 | (1.1) | — | |||||||||||||||||||||||
Balance in AOCI as of September 30, 2020 | $ | (0.7) | $ | (0.6) | $ | (1.3) |
Plant | Plant | Net Investment | Accelerated Depreciation Regulatory Asset | Cost of Removal Regulatory Liability | Projected Retirement Date | Current Authorized Recovery Period | Annual Depreciation (a) | Plant | Net Book Value | Accelerated Depreciation Regulatory Asset | Cost of Removal Regulatory Liability | Projected Retirement Date | Current Authorized Recovery Period | Annual Depreciation (a) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(dollars in millions) | (dollars in millions) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Northeastern Plant, Unit 3 | Northeastern Plant, Unit 3 | $ | 190.5 | $ | 114.8 | $ | 19.8 | (b) | 2026 | (c) | $ | 14.9 | Northeastern Plant, Unit 3 | $ | 175.1 | $ | 123.6 | $ | 20.0 | (b) | 2026 | (c) | $ | 14.9 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Dolet Hills Power Station | Dolet Hills Power Station | 51.3 | 92.6 | 1.1 | 2021 | (d) | 7.7 | Dolet Hills Power Station | 13.0 | 126.8 | 24.4 | 2021 | (d) | 7.8 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Pirkey Power Plant | Pirkey Power Plant | 178.3 | 30.8 | 18.4 | 2023 | (e) | 13.7 | Pirkey Power Plant | 135.4 | 68.0 | 39.2 | 2023 | (e) | 13.5 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Welsh Plant, Units 1 and 3 | Welsh Plant, Units 1 and 3 | 528.8 | 14.2 | 11.4 | (f) | 2028 | (g) | 33.3 | Welsh Plant, Units 1 and 3 | 493.7 | 35.6 | 58.2 | (f) | 2028 | (g) | 33.1 |
AEP | AEP | |||||||||||||||||||||||||||
March 31, | December 31, | September 30, | December 31, | |||||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | |||||||||||||||||||||||||
Noncurrent Regulatory Assets | Noncurrent Regulatory Assets | (in millions) | Noncurrent Regulatory Assets | (in millions) | ||||||||||||||||||||||||
Regulatory Assets Currently Earning a Return | Regulatory Assets Currently Earning a Return | Regulatory Assets Currently Earning a Return | ||||||||||||||||||||||||||
Unrecovered Winter Storm Fuel Costs (a) | Unrecovered Winter Storm Fuel Costs (a) | $ | 1,185.0 | $ | 0 | Unrecovered Winter Storm Fuel Costs (a) | $ | 1,106.3 | $ | — | ||||||||||||||||||
Dolet Hills Power Station Accelerated Depreciation | Dolet Hills Power Station Accelerated Depreciation | 92.6 | 71.2 | Dolet Hills Power Station Accelerated Depreciation | 126.8 | 71.2 | ||||||||||||||||||||||
Pirkey Power Plant Accelerated Depreciation | Pirkey Power Plant Accelerated Depreciation | 68.0 | 12.2 | |||||||||||||||||||||||||
Kentucky Deferred Purchase Power Expenses | Kentucky Deferred Purchase Power Expenses | 42.8 | 41.3 | Kentucky Deferred Purchase Power Expenses | 45.9 | 41.3 | ||||||||||||||||||||||
Welsh Plant, Units 1 and 3 Accelerated Depreciation | Welsh Plant, Units 1 and 3 Accelerated Depreciation | 35.6 | 3.6 | |||||||||||||||||||||||||
Plant Retirement Costs – Unrecovered Plant, Louisiana | Plant Retirement Costs – Unrecovered Plant, Louisiana | 35.2 | 35.2 | Plant Retirement Costs – Unrecovered Plant, Louisiana | 35.2 | 35.2 | ||||||||||||||||||||||
Oklaunion Power Station Accelerated Depreciation | Oklaunion Power Station Accelerated Depreciation | 34.0 | 34.4 | Oklaunion Power Station Accelerated Depreciation | 33.0 | 34.4 | ||||||||||||||||||||||
Pirkey Power Plant Accelerated Depreciation | 30.8 | 12.2 | ||||||||||||||||||||||||||
Dolet Hills Power Station Fuel Costs - Louisiana | Dolet Hills Power Station Fuel Costs - Louisiana | 20.3 | — | |||||||||||||||||||||||||
Other Regulatory Assets Pending Final Regulatory Approval | Other Regulatory Assets Pending Final Regulatory Approval | 37.5 | 26.4 | Other Regulatory Assets Pending Final Regulatory Approval | 25.5 | 22.8 | ||||||||||||||||||||||
Regulatory Assets Currently Not Earning a Return | Regulatory Assets Currently Not Earning a Return | Regulatory Assets Currently Not Earning a Return | ||||||||||||||||||||||||||
Storm-Related Costs | Storm-Related Costs | 285.0 | 134.2 | Storm-Related Costs | 325.8 | 134.2 | ||||||||||||||||||||||
Plant Retirement Costs – Asset Retirement Obligation Costs | Plant Retirement Costs – Asset Retirement Obligation Costs | 25.9 | 25.9 | Plant Retirement Costs – Asset Retirement Obligation Costs | 25.9 | 25.9 | ||||||||||||||||||||||
COVID-19 | COVID-19 | 19.5 | 24.9 | COVID-19 | 14.0 | 24.9 | ||||||||||||||||||||||
Environmental Expense Deferral - Virginia | 12.3 | 9.3 | ||||||||||||||||||||||||||
Asset Retirement Obligation - Louisiana | Asset Retirement Obligation - Louisiana | 10.0 | 9.1 | |||||||||||||||||||||||||
Other Regulatory Assets Pending Final Regulatory Approval | Other Regulatory Assets Pending Final Regulatory Approval | 33.0 | 27.2 | Other Regulatory Assets Pending Final Regulatory Approval | 32.6 | 27.4 | ||||||||||||||||||||||
Total Regulatory Assets Pending Final Regulatory Approval | Total Regulatory Assets Pending Final Regulatory Approval | $ | 1,833.6 | $ | 442.2 | Total Regulatory Assets Pending Final Regulatory Approval | $ | 1,904.9 | $ | 442.2 |
AEP Texas | AEP Texas | |||||||||||||||||||||||||||
March 31, | December 31, | September 30, | December 31, | |||||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | |||||||||||||||||||||||||
Noncurrent Regulatory Assets | Noncurrent Regulatory Assets | (in millions) | Noncurrent Regulatory Assets | (in millions) | ||||||||||||||||||||||||
Regulatory Assets Currently Earning a Return | Regulatory Assets Currently Earning a Return | Regulatory Assets Currently Earning a Return | ||||||||||||||||||||||||||
Advanced Metering System | Advanced Metering System | $ | 16.4 | $ | 16.3 | Advanced Metering System | $ | 16.6 | $ | 16.3 | ||||||||||||||||||
Regulatory Assets Currently Not Earning a Return | Regulatory Assets Currently Not Earning a Return | Regulatory Assets Currently Not Earning a Return | ||||||||||||||||||||||||||
Storm-Related Costs | Storm-Related Costs | 10.5 | 0.8 | Storm-Related Costs | 22.7 | 0.8 | ||||||||||||||||||||||
Vegetation Management Program | Vegetation Management Program | 5.2 | 3.8 | |||||||||||||||||||||||||
Texas Retail Electric Provider Bad Debt Expense | Texas Retail Electric Provider Bad Debt Expense | 4.1 | — | |||||||||||||||||||||||||
COVID-19 | COVID-19 | 8.6 | 10.5 | COVID-19 | 3.9 | 10.5 | ||||||||||||||||||||||
Texas Retail Electric Provider Bad Debt Expense | 4.1 | 0 | ||||||||||||||||||||||||||
Vegetation Management Program | 3.8 | 3.8 | ||||||||||||||||||||||||||
Other Regulatory Assets Pending Final Regulatory Approval | Other Regulatory Assets Pending Final Regulatory Approval | 2.6 | 1.5 | Other Regulatory Assets Pending Final Regulatory Approval | 5.3 | 1.5 | ||||||||||||||||||||||
Total Regulatory Assets Pending Final Regulatory Approval | Total Regulatory Assets Pending Final Regulatory Approval | $ | 46.0 | $ | 32.9 | Total Regulatory Assets Pending Final Regulatory Approval | $ | 57.8 | $ | 32.9 |
APCo | APCo | |||||||||||||||||||||||||||
March 31, | December 31, | September 30, | December 31, | |||||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | |||||||||||||||||||||||||
Noncurrent Regulatory Assets | Noncurrent Regulatory Assets | (in millions) | Noncurrent Regulatory Assets | (in millions) | ||||||||||||||||||||||||
Regulatory Assets Currently Earning a Return | Regulatory Assets Currently Earning a Return | Regulatory Assets Currently Earning a Return | ||||||||||||||||||||||||||
COVID-19 – Virginia | COVID-19 – Virginia | $ | 4.0 | $ | 3.7 | COVID-19 – Virginia | $ | 6.6 | $ | 3.7 | ||||||||||||||||||
Regulatory Assets Currently Not Earning a Return | Regulatory Assets Currently Not Earning a Return | Regulatory Assets Currently Not Earning a Return | ||||||||||||||||||||||||||
Storm-Related Costs | Storm-Related Costs | 49.1 | 3.4 | Storm-Related Costs | 59.8 | 3.4 | ||||||||||||||||||||||
Plant Retirement Costs – Asset Retirement Obligation Costs | Plant Retirement Costs – Asset Retirement Obligation Costs | 25.9 | 25.9 | Plant Retirement Costs – Asset Retirement Obligation Costs | 25.9 | 25.9 | ||||||||||||||||||||||
COVID-19 – West Virginia | COVID-19 – West Virginia | 0.4 | 1.5 | |||||||||||||||||||||||||
Environmental Expense Deferral - Virginia | Environmental Expense Deferral - Virginia | 12.3 | 9.3 | Environmental Expense Deferral - Virginia | — | 9.3 | ||||||||||||||||||||||
COVID-19 – West Virginia | 1.6 | 1.5 | ||||||||||||||||||||||||||
Other Regulatory Assets Pending Final Regulatory Approval | Other Regulatory Assets Pending Final Regulatory Approval | 1.2 | — | |||||||||||||||||||||||||
Total Regulatory Assets Pending Final Regulatory Approval | Total Regulatory Assets Pending Final Regulatory Approval | $ | 92.9 | $ | 43.8 | Total Regulatory Assets Pending Final Regulatory Approval | $ | 93.9 | $ | 43.8 |
I&M | I&M | |||||||||||||||||||||||||||
March 31, | December 31, | September 30, | December 31, | |||||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | |||||||||||||||||||||||||
Noncurrent Regulatory Assets | Noncurrent Regulatory Assets | (in millions) | Noncurrent Regulatory Assets | (in millions) | ||||||||||||||||||||||||
Regulatory Assets Currently Earning a Return | Regulatory Assets Currently Earning a Return | Regulatory Assets Currently Earning a Return | ||||||||||||||||||||||||||
Other Regulatory Assets Pending Final Regulatory Approval | Other Regulatory Assets Pending Final Regulatory Approval | $ | 0 | $ | 0.5 | Other Regulatory Assets Pending Final Regulatory Approval | $ | — | $ | 0.5 | ||||||||||||||||||
Regulatory Assets Currently Not Earning a Return | Regulatory Assets Currently Not Earning a Return | Regulatory Assets Currently Not Earning a Return | ||||||||||||||||||||||||||
COVID-19 | COVID-19 | 2.8 | 3.8 | COVID-19 | 1.7 | 3.8 | ||||||||||||||||||||||
Other Regulatory Assets Pending Final Regulatory Approval | Other Regulatory Assets Pending Final Regulatory Approval | 0.6 | 0 | Other Regulatory Assets Pending Final Regulatory Approval | 1.7 | — | ||||||||||||||||||||||
Total Regulatory Assets Pending Final Regulatory Approval | Total Regulatory Assets Pending Final Regulatory Approval | $ | 3.4 | $ | 4.3 | Total Regulatory Assets Pending Final Regulatory Approval | $ | 3.4 | $ | 4.3 |
OPCo | OPCo | |||||||||||||||||||||||||||
March 31, | December 31, | September 30, | December 31, | |||||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | |||||||||||||||||||||||||
Noncurrent Regulatory Assets | Noncurrent Regulatory Assets | (in millions) | Noncurrent Regulatory Assets | (in millions) | ||||||||||||||||||||||||
Regulatory Assets Currently Not Earning a Return | Regulatory Assets Currently Not Earning a Return | Regulatory Assets Currently Not Earning a Return | ||||||||||||||||||||||||||
Storm-Related Costs | Storm-Related Costs | $ | 6.8 | $ | 4.0 | Storm-Related Costs | $ | 5.5 | $ | 4.0 | ||||||||||||||||||
COVID-19 | COVID-19 | 1.5 | 4.4 | COVID-19 | 1.9 | 4.4 | ||||||||||||||||||||||
Other Regulatory Assets Pending Final Regulatory Approval | Other Regulatory Assets Pending Final Regulatory Approval | 0.1 | 0 | Other Regulatory Assets Pending Final Regulatory Approval | 0.1 | — | ||||||||||||||||||||||
Total Regulatory Assets Pending Final Regulatory Approval | Total Regulatory Assets Pending Final Regulatory Approval | $ | 8.4 | $ | 8.4 | Total Regulatory Assets Pending Final Regulatory Approval | $ | 7.5 | $ | 8.4 |
PSO | PSO | |||||||||||||||||||||||||||
March 31, | December 31, | September 30, | December 31, | |||||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | |||||||||||||||||||||||||
Noncurrent Regulatory Assets | Noncurrent Regulatory Assets | (in millions) | Noncurrent Regulatory Assets | (in millions) | ||||||||||||||||||||||||
Regulatory Assets Currently Earning a Return | Regulatory Assets Currently Earning a Return | Regulatory Assets Currently Earning a Return | ||||||||||||||||||||||||||
Unrecovered Winter Storm Fuel Costs (a) | Unrecovered Winter Storm Fuel Costs (a) | $ | 688.7 | $ | 0 | Unrecovered Winter Storm Fuel Costs (a) | $ | 673.2 | $ | — | ||||||||||||||||||
Oklaunion Power Station Accelerated Depreciation | Oklaunion Power Station Accelerated Depreciation | 34.0 | 34.4 | Oklaunion Power Station Accelerated Depreciation | 33.0 | 34.4 | ||||||||||||||||||||||
Regulatory Assets Currently Not Earning a Return | Regulatory Assets Currently Not Earning a Return | Regulatory Assets Currently Not Earning a Return | ||||||||||||||||||||||||||
Storm-Related Costs | Storm-Related Costs | 24.8 | 15.8 | Storm-Related Costs | 29.3 | 15.8 | ||||||||||||||||||||||
Other Regulatory Assets Pending Final Regulatory Approval | Other Regulatory Assets Pending Final Regulatory Approval | 0.8 | 0.3 | Other Regulatory Assets Pending Final Regulatory Approval | 0.9 | 0.3 | ||||||||||||||||||||||
Total Regulatory Assets Pending Final Regulatory Approval | Total Regulatory Assets Pending Final Regulatory Approval | $ | 748.3 | $ | 50.5 | Total Regulatory Assets Pending Final Regulatory Approval | $ | 736.4 | $ | 50.5 |
SWEPCo | SWEPCo | |||||||||||||||||||||||||||
March 31, | December 31, | September 30, | December 31, | |||||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | |||||||||||||||||||||||||
Noncurrent Regulatory Assets | Noncurrent Regulatory Assets | (in millions) | Noncurrent Regulatory Assets | (in millions) | ||||||||||||||||||||||||
Regulatory Assets Currently Earning a Return | Regulatory Assets Currently Earning a Return | Regulatory Assets Currently Earning a Return | ||||||||||||||||||||||||||
Unrecovered Winter Storm Fuel Costs (a) | Unrecovered Winter Storm Fuel Costs (a) | $ | 496.3 | $ | 0 | Unrecovered Winter Storm Fuel Costs (a) | $ | 433.1 | $ | — | ||||||||||||||||||
Dolet Hills Power Station Accelerated Depreciation | Dolet Hills Power Station Accelerated Depreciation | 92.6 | 71.2 | Dolet Hills Power Station Accelerated Depreciation | 126.8 | 71.2 | ||||||||||||||||||||||
Plant Retirement Costs – Unrecovered Plant, Louisiana | 35.2 | 35.2 | ||||||||||||||||||||||||||
Pirkey Power Plant Accelerated Depreciation | Pirkey Power Plant Accelerated Depreciation | 30.8 | 12.2 | Pirkey Power Plant Accelerated Depreciation | 68.0 | 12.2 | ||||||||||||||||||||||
Welsh Plant, Units 1 and 3 Accelerated Depreciation | Welsh Plant, Units 1 and 3 Accelerated Depreciation | 14.2 | 3.6 | Welsh Plant, Units 1 and 3 Accelerated Depreciation | 35.6 | 3.6 | ||||||||||||||||||||||
Plant Retirement Costs – Unrecovered Plant, Louisiana | Plant Retirement Costs – Unrecovered Plant, Louisiana | 35.2 | 35.2 | |||||||||||||||||||||||||
Dolet Hills Power Station Fuel Costs- Louisiana | Dolet Hills Power Station Fuel Costs- Louisiana | 20.3 | — | |||||||||||||||||||||||||
Other Regulatory Assets Pending Final Regulatory Approval | Other Regulatory Assets Pending Final Regulatory Approval | 2.8 | 2.2 | Other Regulatory Assets Pending Final Regulatory Approval | 2.3 | 2.2 | ||||||||||||||||||||||
Regulatory Assets Currently Not Earning a Return | Regulatory Assets Currently Not Earning a Return | Regulatory Assets Currently Not Earning a Return | ||||||||||||||||||||||||||
Storm-Related Costs | Storm-Related Costs | 139.1 | 99.3 | Storm-Related Costs | 155.4 | 99.3 | ||||||||||||||||||||||
Asset Retirement Obligation - Louisiana | Asset Retirement Obligation - Louisiana | 9.4 | 9.1 | Asset Retirement Obligation - Louisiana | 10.0 | 9.1 | ||||||||||||||||||||||
Other Regulatory Assets Pending Final Regulatory Approval | Other Regulatory Assets Pending Final Regulatory Approval | 15.4 | 14.5 | Other Regulatory Assets Pending Final Regulatory Approval | 19.3 | 14.5 | ||||||||||||||||||||||
Total Regulatory Assets Pending Final Regulatory Approval | Total Regulatory Assets Pending Final Regulatory Approval | $ | 835.8 | $ | 247.3 | Total Regulatory Assets Pending Final Regulatory Approval | $ | 906.0 | $ | 247.3 |
March 31, 2021 | September 30, 2021 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Company | Company | Jurisdiction | Capital | O&M | Regulatory Asset | Total | Company | Jurisdiction | Capital | O&M | Regulatory Asset | Total | ||||||||||||||||||||||||||||||||||||||||||||||||||||
(in millions) | (in millions) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
APCo | APCo | Virginia | $ | 5.4 | $ | 2.2 | $ | 5.6 | $ | 13.2 | APCo | Virginia | $ | 8.1 | $ | 2.2 | $ | 6.6 | $ | 16.9 | ||||||||||||||||||||||||||||||||||||||||||||
APCo | APCo | West Virginia | 19.6 | 0 | 39.1 | 58.7 | APCo | West Virginia | 23.5 | — | 47.0 | 70.5 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
SWEPCo | SWEPCo | Louisiana | 4.9 | 0 | 42.1 | 47.0 | SWEPCo | Louisiana | 6.0 | — | 45.4 | 51.4 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
KPCo | KPCo | Kentucky | 26.7 | 3.8 | 44.1 | 74.6 | KPCo | Kentucky | 29.0 | 5.0 | 42.6 | 76.6 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Total | $ | 56.6 | $ | 6.0 | $ | 130.9 | $ | 193.5 | Total | $ | 66.6 | $ | 7.2 | $ | 141.6 | $ | 215.4 |
PSO | SWEPCo | Total | PSO | SWEPCo | Total | |||||||||||||||||||||||||||||||||||
(in millions) | (in millions) | |||||||||||||||||||||||||||||||||||||||
Retail Customers (a) | Retail Customers (a) | $ | 688.7 | $ | 496.3 | $ | 1,185.0 | Retail Customers (a) | $ | 673.2 | $ | 433.1 | (b) | $ | 1,106.3 | |||||||||||||||||||||||||
Wholesale Customers | Wholesale Customers | 0 | 88.4 | 88.4 | Wholesale Customers | — | 55.8 | 55.8 | ||||||||||||||||||||||||||||||||
Total | Total | $ | 688.7 | $ | 584.7 | $ | 1,273.4 | Total | $ | 673.2 | $ | 488.9 | $ | 1,162.1 |
Company | Amount | Maturity | ||||||||||||
(in millions) | ||||||||||||||
AEP | $ | |||||||||||||
AEP Texas | 2.2 | July | ||||||||||||
Company | Maximum Potential Loss | |||||||
(in millions) | ||||||||
AEP | $ | |||||||
AEP Texas | ||||||||
APCo | ||||||||
I&M | ||||||||
OPCo | ||||||||
PSO | 4.7 | |||||||
SWEPCo |
Future Minimum Lease Payments | Future Minimum Lease Payments | AEP (a) | I&M | Future Minimum Lease Payments | AEP (a) | I&M | ||||||||||||||||||||||
(in millions) | (in millions) | |||||||||||||||||||||||||||
2021 | 2021 | $ | 147.8 | $ | 73.9 | 2021 | $ | 74.0 | $ | 37.0 | ||||||||||||||||||
2022 | 2022 | 147.6 | 73.8 | 2022 | 147.6 | 73.8 | ||||||||||||||||||||||
Total Future Minimum Lease Payments | Total Future Minimum Lease Payments | $ | 295.4 | $ | 147.7 | Total Future Minimum Lease Payments | $ | 221.6 | $ | 110.8 |
Pension Plans | OPEB | Pension Plans | OPEB | |||||||||||||||||||||||||||||||||||||||||||
Three Months Ended March 31, | Three Months Ended March 31, | Three Months Ended September 30, | Three Months Ended September 30, | |||||||||||||||||||||||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | 2021 | 2020 | 2021 | 2020 | |||||||||||||||||||||||||||||||||||||||
(in millions) | (in millions) | |||||||||||||||||||||||||||||||||||||||||||||
Service Cost | Service Cost | $ | 32.3 | $ | 28.0 | $ | 2.4 | $ | 2.5 | Service Cost | $ | 32.3 | $ | 28.0 | $ | 2.4 | $ | 2.5 | ||||||||||||||||||||||||||||
Interest Cost | Interest Cost | 34.3 | 42.0 | 7.6 | 9.9 | Interest Cost | 34.3 | 42.0 | 7.7 | 10.0 | ||||||||||||||||||||||||||||||||||||
Expected Return on Plan Assets | Expected Return on Plan Assets | (57.5) | (66.2) | (22.8) | (23.9) | Expected Return on Plan Assets | (57.4) | (66.3) | (22.8) | (23.9) | ||||||||||||||||||||||||||||||||||||
Amortization of Prior Service Credit | Amortization of Prior Service Credit | 0 | 0 | (17.7) | (17.4) | Amortization of Prior Service Credit | — | — | (17.8) | (17.4) | ||||||||||||||||||||||||||||||||||||
Amortization of Net Actuarial Loss | Amortization of Net Actuarial Loss | 25.4 | 23.4 | 0 | 1.5 | Amortization of Net Actuarial Loss | 25.3 | 23.5 | — | 1.4 | ||||||||||||||||||||||||||||||||||||
Net Periodic Benefit Cost (Credit) | Net Periodic Benefit Cost (Credit) | $ | 34.5 | $ | 27.2 | $ | (30.5) | $ | (27.4) | Net Periodic Benefit Cost (Credit) | $ | 34.5 | $ | 27.2 | $ | (30.5) | $ | (27.4) | ||||||||||||||||||||||||||||
Pension Plans | OPEB | |||||||||||||||||||||||||||||||||||||||||||||
Nine Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||||||||||||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | |||||||||||||||||||||||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||||||||||||||||||||||||
Service Cost | Service Cost | $ | 96.9 | $ | 84.0 | $ | 7.2 | $ | 7.5 | |||||||||||||||||||||||||||||||||||||
Interest Cost | Interest Cost | 102.9 | 125.9 | 22.9 | 29.9 | |||||||||||||||||||||||||||||||||||||||||
Expected Return on Plan Assets | Expected Return on Plan Assets | (172.3) | (198.7) | (68.4) | (71.8) | |||||||||||||||||||||||||||||||||||||||||
Amortization of Prior Service Credit | Amortization of Prior Service Credit | — | — | (53.2) | (52.3) | |||||||||||||||||||||||||||||||||||||||||
Amortization of Net Actuarial Loss | Amortization of Net Actuarial Loss | 76.1 | 70.3 | — | 4.4 | |||||||||||||||||||||||||||||||||||||||||
Net Periodic Benefit Cost (Credit) | Net Periodic Benefit Cost (Credit) | $ | 103.6 | $ | 81.5 | $ | (91.5) | $ | (82.3) |
Pension Plans | OPEB | Pension Plans | OPEB | |||||||||||||||||||||||||||||||||||||||||||
Three Months Ended March 31, | Three Months Ended March 31, | Three Months Ended September 30, | Three Months Ended September 30, | |||||||||||||||||||||||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | 2021 | 2020 | 2021 | 2020 | |||||||||||||||||||||||||||||||||||||||
(in millions) | (in millions) | |||||||||||||||||||||||||||||||||||||||||||||
Service Cost | Service Cost | $ | 3.0 | $ | 2.6 | $ | 0.2 | $ | 0.2 | Service Cost | $ | 3.0 | $ | 2.6 | $ | 0.2 | $ | 0.2 | ||||||||||||||||||||||||||||
Interest Cost | Interest Cost | 2.8 | 3.5 | 0.6 | 0.8 | Interest Cost | 2.8 | 3.5 | 0.6 | 0.8 | ||||||||||||||||||||||||||||||||||||
Expected Return on Plan Assets | Expected Return on Plan Assets | (4.9) | (5.7) | (1.9) | (2.0) | Expected Return on Plan Assets | (4.9) | (5.7) | (1.9) | (2.0) | ||||||||||||||||||||||||||||||||||||
Amortization of Prior Service Credit | Amortization of Prior Service Credit | 0 | 0 | (1.5) | (1.4) | Amortization of Prior Service Credit | — | — | (1.5) | (1.4) | ||||||||||||||||||||||||||||||||||||
Amortization of Net Actuarial Loss | Amortization of Net Actuarial Loss | 2.1 | 1.9 | 0 | 0.1 | Amortization of Net Actuarial Loss | 2.1 | 1.9 | — | 0.1 | ||||||||||||||||||||||||||||||||||||
Net Periodic Benefit Cost (Credit) | Net Periodic Benefit Cost (Credit) | $ | 3.0 | $ | 2.3 | $ | (2.6) | $ | (2.3) | Net Periodic Benefit Cost (Credit) | $ | 3.0 | $ | 2.3 | $ | (2.6) | $ | (2.3) | ||||||||||||||||||||||||||||
Pension Plans | OPEB | |||||||||||||||||||||||||||||||||||||||||||||
Nine Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||||||||||||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | |||||||||||||||||||||||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||||||||||||||||||||||||
Service Cost | Service Cost | $ | 8.9 | $ | 7.6 | $ | 0.5 | $ | 0.6 | |||||||||||||||||||||||||||||||||||||
Interest Cost | Interest Cost | 8.4 | 10.5 | 1.8 | 2.4 | |||||||||||||||||||||||||||||||||||||||||
Expected Return on Plan Assets | Expected Return on Plan Assets | (14.6) | (17.1) | (5.6) | (6.0) | |||||||||||||||||||||||||||||||||||||||||
Amortization of Prior Service Credit | Amortization of Prior Service Credit | — | — | (4.5) | (4.4) | |||||||||||||||||||||||||||||||||||||||||
Amortization of Net Actuarial Loss | Amortization of Net Actuarial Loss | 6.2 | 5.8 | — | 0.4 | |||||||||||||||||||||||||||||||||||||||||
Net Periodic Benefit Cost (Credit) | Net Periodic Benefit Cost (Credit) | $ | 8.9 | $ | 6.8 | $ | (7.8) | $ | (7.0) |
Pension Plans | OPEB | Pension Plans | OPEB | |||||||||||||||||||||||||||||||||||||||||||
Three Months Ended March 31, | Three Months Ended March 31, | Three Months Ended September 30, | Three Months Ended September 30, | |||||||||||||||||||||||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | 2021 | 2020 | 2021 | 2020 | |||||||||||||||||||||||||||||||||||||||
(in millions) | (in millions) | |||||||||||||||||||||||||||||||||||||||||||||
Service Cost | Service Cost | $ | 3.0 | $ | 2.6 | $ | 0.3 | $ | 0.3 | Service Cost | $ | 3.0 | $ | 2.7 | $ | 0.3 | $ | 0.3 | ||||||||||||||||||||||||||||
Interest Cost | Interest Cost | 4.1 | 5.1 | 1.2 | 1.6 | Interest Cost | 4.1 | 5.0 | 1.3 | 1.6 | ||||||||||||||||||||||||||||||||||||
Expected Return on Plan Assets | Expected Return on Plan Assets | (7.3) | (8.4) | (3.4) | (3.6) | Expected Return on Plan Assets | (7.3) | (8.4) | (3.4) | (3.6) | ||||||||||||||||||||||||||||||||||||
Amortization of Prior Service Credit | Amortization of Prior Service Credit | 0 | 0 | (2.6) | (2.5) | Amortization of Prior Service Credit | — | — | (2.6) | (2.5) | ||||||||||||||||||||||||||||||||||||
Amortization of Net Actuarial Loss | Amortization of Net Actuarial Loss | 3.0 | 2.8 | 0 | 0.2 | Amortization of Net Actuarial Loss | 3.0 | 2.8 | — | 0.2 | ||||||||||||||||||||||||||||||||||||
Net Periodic Benefit Cost (Credit) | Net Periodic Benefit Cost (Credit) | $ | 2.8 | $ | 2.1 | $ | (4.5) | $ | (4.0) | Net Periodic Benefit Cost (Credit) | $ | 2.8 | $ | 2.1 | $ | (4.4) | $ | (4.0) | ||||||||||||||||||||||||||||
Pension Plans | OPEB | |||||||||||||||||||||||||||||||||||||||||||||
Nine Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||||||||||||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | |||||||||||||||||||||||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||||||||||||||||||||||||
Service Cost | Service Cost | $ | 8.9 | $ | 7.9 | $ | 0.8 | $ | 0.8 | |||||||||||||||||||||||||||||||||||||
Interest Cost | Interest Cost | 12.3 | 15.2 | 3.7 | 4.9 | |||||||||||||||||||||||||||||||||||||||||
Expected Return on Plan Assets | Expected Return on Plan Assets | (21.8) | (25.2) | (10.1) | (10.9) | |||||||||||||||||||||||||||||||||||||||||
Amortization of Prior Service Credit | Amortization of Prior Service Credit | — | — | (7.8) | (7.6) | |||||||||||||||||||||||||||||||||||||||||
Amortization of Net Actuarial Loss | Amortization of Net Actuarial Loss | 9.0 | 8.4 | — | 0.7 | |||||||||||||||||||||||||||||||||||||||||
Net Periodic Benefit Cost (Credit) | Net Periodic Benefit Cost (Credit) | $ | 8.4 | $ | 6.3 | $ | (13.4) | $ | (12.1) |
Pension Plans | OPEB | Pension Plans | OPEB | |||||||||||||||||||||||||||||||||||||||||||
Three Months Ended March 31, | Three Months Ended March 31, | Three Months Ended September 30, | Three Months Ended September 30, | |||||||||||||||||||||||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | 2021 | 2020 | 2021 | 2020 | |||||||||||||||||||||||||||||||||||||||
(in millions) | (in millions) | |||||||||||||||||||||||||||||||||||||||||||||
Service Cost | Service Cost | $ | 4.4 | $ | 3.9 | $ | 0.3 | $ | 0.3 | Service Cost | $ | 4.4 | $ | 3.9 | $ | 0.4 | $ | 0.4 | ||||||||||||||||||||||||||||
Interest Cost | Interest Cost | 4.0 | 4.9 | 0.9 | 1.2 | Interest Cost | 4.0 | 4.9 | 0.8 | 1.2 | ||||||||||||||||||||||||||||||||||||
Expected Return on Plan Assets | Expected Return on Plan Assets | (7.2) | (8.3) | (2.8) | (2.9) | Expected Return on Plan Assets | (7.2) | (8.3) | (2.7) | (3.0) | ||||||||||||||||||||||||||||||||||||
Amortization of Prior Service Credit | Amortization of Prior Service Credit | 0 | 0 | (2.4) | (2.4) | Amortization of Prior Service Credit | — | — | (2.5) | (2.3) | ||||||||||||||||||||||||||||||||||||
Amortization of Net Actuarial Loss | Amortization of Net Actuarial Loss | 2.9 | 2.7 | 0 | 0.2 | Amortization of Net Actuarial Loss | 2.9 | 2.7 | — | 0.1 | ||||||||||||||||||||||||||||||||||||
Net Periodic Benefit Cost (Credit) | Net Periodic Benefit Cost (Credit) | $ | 4.1 | $ | 3.2 | $ | (4.0) | $ | (3.6) | Net Periodic Benefit Cost (Credit) | $ | 4.1 | $ | 3.2 | $ | (4.0) | $ | (3.6) | ||||||||||||||||||||||||||||
Pension Plans | OPEB | |||||||||||||||||||||||||||||||||||||||||||||
Nine Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||||||||||||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | |||||||||||||||||||||||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||||||||||||||||||||||||
Service Cost | Service Cost | $ | 13.1 | $ | 11.6 | $ | 1.0 | $ | 1.1 | |||||||||||||||||||||||||||||||||||||
Interest Cost | Interest Cost | 12.1 | 14.7 | 2.6 | 3.5 | |||||||||||||||||||||||||||||||||||||||||
Expected Return on Plan Assets | Expected Return on Plan Assets | (21.6) | (24.9) | (8.3) | (8.8) | |||||||||||||||||||||||||||||||||||||||||
Amortization of Prior Service Credit | Amortization of Prior Service Credit | — | — | (7.3) | (7.1) | |||||||||||||||||||||||||||||||||||||||||
Amortization of Net Actuarial Loss | Amortization of Net Actuarial Loss | 8.8 | 8.1 | — | 0.5 | |||||||||||||||||||||||||||||||||||||||||
Net Periodic Benefit Cost (Credit) | Net Periodic Benefit Cost (Credit) | $ | 12.4 | $ | 9.5 | $ | (12.0) | $ | (10.8) |
Pension Plans | OPEB | Pension Plans | OPEB | |||||||||||||||||||||||||||||||||||||||||||
Three Months Ended March 31, | Three Months Ended March 31, | Three Months Ended September 30, | Three Months Ended September 30, | |||||||||||||||||||||||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | 2021 | 2020 | 2021 | 2020 | |||||||||||||||||||||||||||||||||||||||
(in millions) | (in millions) | |||||||||||||||||||||||||||||||||||||||||||||
Service Cost | Service Cost | $ | 2.9 | $ | 2.4 | $ | 0.2 | $ | 0.2 | Service Cost | $ | 2.9 | $ | 2.4 | $ | 0.2 | $ | 0.2 | ||||||||||||||||||||||||||||
Interest Cost | Interest Cost | 3.1 | 3.9 | 0.8 | 1.0 | Interest Cost | 3.1 | 3.9 | 0.7 | 1.0 | ||||||||||||||||||||||||||||||||||||
Expected Return on Plan Assets | Expected Return on Plan Assets | (5.6) | (6.6) | (2.4) | (2.6) | Expected Return on Plan Assets | (5.7) | (6.6) | (2.4) | (2.6) | ||||||||||||||||||||||||||||||||||||
Amortization of Prior Service Credit | Amortization of Prior Service Credit | 0 | 0 | (1.8) | (1.8) | Amortization of Prior Service Credit | — | — | (1.7) | (1.8) | ||||||||||||||||||||||||||||||||||||
Amortization of Net Actuarial Loss | Amortization of Net Actuarial Loss | 2.2 | 2.1 | 0 | 0.2 | Amortization of Net Actuarial Loss | 2.3 | 2.1 | — | 0.2 | ||||||||||||||||||||||||||||||||||||
Net Periodic Benefit Cost (Credit) | Net Periodic Benefit Cost (Credit) | $ | 2.6 | $ | 1.8 | $ | (3.2) | $ | (3.0) | Net Periodic Benefit Cost (Credit) | $ | 2.6 | $ | 1.8 | $ | (3.2) | $ | (3.0) | ||||||||||||||||||||||||||||
Pension Plans | OPEB | |||||||||||||||||||||||||||||||||||||||||||||
Nine Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||||||||||||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | |||||||||||||||||||||||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||||||||||||||||||||||||
Service Cost | Service Cost | $ | 8.6 | $ | 7.2 | $ | 0.6 | $ | 0.7 | |||||||||||||||||||||||||||||||||||||
Interest Cost | Interest Cost | 9.3 | 11.6 | 2.3 | 3.1 | |||||||||||||||||||||||||||||||||||||||||
Expected Return on Plan Assets | Expected Return on Plan Assets | (16.8) | (19.7) | (7.3) | (7.9) | |||||||||||||||||||||||||||||||||||||||||
Amortization of Prior Service Credit | Amortization of Prior Service Credit | — | — | (5.3) | (5.3) | |||||||||||||||||||||||||||||||||||||||||
Amortization of Net Actuarial Loss | Amortization of Net Actuarial Loss | 6.8 | 6.4 | — | 0.5 | |||||||||||||||||||||||||||||||||||||||||
Net Periodic Benefit Cost (Credit) | Net Periodic Benefit Cost (Credit) | $ | 7.9 | $ | 5.5 | $ | (9.7) | $ | (8.9) |
Pension Plans | OPEB | Pension Plans | OPEB | |||||||||||||||||||||||||||||||||||||||||||
Three Months Ended March 31, | Three Months Ended March 31, | Three Months Ended September 30, | Three Months Ended September 30, | |||||||||||||||||||||||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | 2021 | 2020 | 2021 | 2020 | |||||||||||||||||||||||||||||||||||||||
(in millions) | (in millions) | |||||||||||||||||||||||||||||||||||||||||||||
Service Cost | Service Cost | $ | 1.9 | $ | 1.8 | $ | 0.2 | $ | 0.2 | Service Cost | $ | 2.0 | $ | 1.9 | $ | 0.1 | $ | 0.1 | ||||||||||||||||||||||||||||
Interest Cost | Interest Cost | 1.7 | 2.1 | 0.4 | 0.5 | Interest Cost | 1.7 | 2.1 | 0.4 | 0.6 | ||||||||||||||||||||||||||||||||||||
Expected Return on Plan Assets | Expected Return on Plan Assets | (3.1) | (3.6) | (1.3) | (1.3) | Expected Return on Plan Assets | (3.0) | (3.6) | (1.3) | (1.3) | ||||||||||||||||||||||||||||||||||||
Amortization of Prior Service Credit | Amortization of Prior Service Credit | 0 | 0 | (1.1) | (1.1) | Amortization of Prior Service Credit | — | — | (1.1) | (1.0) | ||||||||||||||||||||||||||||||||||||
Amortization of Net Actuarial Loss | Amortization of Net Actuarial Loss | 1.3 | 1.2 | 0 | 0.1 | Amortization of Net Actuarial Loss | 1.2 | 1.1 | — | — | ||||||||||||||||||||||||||||||||||||
Net Periodic Benefit Cost (Credit) | Net Periodic Benefit Cost (Credit) | $ | 1.8 | $ | 1.5 | $ | (1.8) | $ | (1.6) | Net Periodic Benefit Cost (Credit) | $ | 1.9 | $ | 1.5 | $ | (1.9) | $ | (1.6) | ||||||||||||||||||||||||||||
Pension Plans | OPEB | |||||||||||||||||||||||||||||||||||||||||||||
Nine Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||||||||||||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | |||||||||||||||||||||||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||||||||||||||||||||||||
Service Cost | Service Cost | $ | 6.0 | $ | 5.5 | $ | 0.4 | $ | 0.4 | |||||||||||||||||||||||||||||||||||||
Interest Cost | Interest Cost | 5.0 | 6.4 | 1.2 | 1.6 | |||||||||||||||||||||||||||||||||||||||||
Expected Return on Plan Assets | Expected Return on Plan Assets | (9.2) | (10.9) | (3.8) | (3.9) | |||||||||||||||||||||||||||||||||||||||||
Amortization of Prior Service Credit | Amortization of Prior Service Credit | — | — | (3.3) | (3.2) | |||||||||||||||||||||||||||||||||||||||||
Amortization of Net Actuarial Loss | Amortization of Net Actuarial Loss | 3.7 | 3.5 | — | 0.2 | |||||||||||||||||||||||||||||||||||||||||
Net Periodic Benefit Cost (Credit) | Net Periodic Benefit Cost (Credit) | $ | 5.5 | $ | 4.5 | $ | (5.5) | $ | (4.9) |
Pension Plans | OPEB | Pension Plans | OPEB | |||||||||||||||||||||||||||||||||||||||||||
Three Months Ended March 31, | Three Months Ended March 31, | Three Months Ended September 30, | Three Months Ended September 30, | |||||||||||||||||||||||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | 2021 | 2020 | 2021 | 2020 | |||||||||||||||||||||||||||||||||||||||
(in millions) | (in millions) | |||||||||||||||||||||||||||||||||||||||||||||
Service Cost | Service Cost | $ | 2.9 | $ | 2.5 | $ | 0.1 | $ | 0.2 | Service Cost | $ | 2.7 | $ | 2.6 | $ | 0.3 | $ | 0.2 | ||||||||||||||||||||||||||||
Interest Cost | Interest Cost | 2.1 | 2.5 | 0.5 | 0.6 | Interest Cost | 2.2 | 2.5 | 0.4 | 0.6 | ||||||||||||||||||||||||||||||||||||
Expected Return on Plan Assets | Expected Return on Plan Assets | (3.4) | (3.9) | (1.5) | (1.5) | Expected Return on Plan Assets | (3.3) | (3.9) | (1.5) | (1.5) | ||||||||||||||||||||||||||||||||||||
Amortization of Prior Service Credit | Amortization of Prior Service Credit | 0 | 0 | (1.3) | (1.3) | Amortization of Prior Service Credit | — | — | (1.4) | (1.3) | ||||||||||||||||||||||||||||||||||||
Amortization of Net Actuarial Loss | Amortization of Net Actuarial Loss | 1.5 | 1.4 | 0 | 0.1 | Amortization of Net Actuarial Loss | 1.5 | 1.4 | — | 0.1 | ||||||||||||||||||||||||||||||||||||
Net Periodic Benefit Cost (Credit) | Net Periodic Benefit Cost (Credit) | $ | 3.1 | $ | 2.5 | $ | (2.2) | $ | (1.9) | Net Periodic Benefit Cost (Credit) | $ | 3.1 | $ | 2.6 | $ | (2.2) | $ | (1.9) | ||||||||||||||||||||||||||||
Pension Plans | OPEB | |||||||||||||||||||||||||||||||||||||||||||||
Nine Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||||||||||||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | |||||||||||||||||||||||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||||||||||||||||||||||||
Service Cost | Service Cost | $ | 8.4 | $ | 7.5 | $ | 0.6 | $ | 0.6 | |||||||||||||||||||||||||||||||||||||
Interest Cost | Interest Cost | 6.4 | 7.6 | 1.4 | 1.9 | |||||||||||||||||||||||||||||||||||||||||
Expected Return on Plan Assets | Expected Return on Plan Assets | (10.1) | (11.7) | (4.5) | (4.7) | |||||||||||||||||||||||||||||||||||||||||
Amortization of Prior Service Credit | Amortization of Prior Service Credit | — | — | (4.0) | (3.9) | |||||||||||||||||||||||||||||||||||||||||
Amortization of Net Actuarial Loss | Amortization of Net Actuarial Loss | 4.6 | 4.2 | — | 0.3 | |||||||||||||||||||||||||||||||||||||||||
Net Periodic Benefit Cost (Credit) | Net Periodic Benefit Cost (Credit) | $ | 9.3 | $ | 7.6 | $ | (6.5) | $ | (5.8) |
Company | Qualified Pension Plan | |||||||
(in millions) | ||||||||
AEP | $ | 110.3 | ||||||
AEP Texas | 11.3 | |||||||
APCo | 7.0 | |||||||
I&M | 6.4 | |||||||
OPCo | 0.1 | |||||||
SWEPCo | 8.9 |
Three Months Ended March 31, 2021 | Three Months Ended September 30, 2021 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Vertically Integrated Utilities | Transmission and Distribution Utilities | AEP Transmission Holdco | Generation & Marketing | Corporate and Other (a) | Reconciling Adjustments | Consolidated | Vertically Integrated Utilities | Transmission and Distribution Utilities | AEP Transmission Holdco | Generation & Marketing | Corporate and Other (a) | Reconciling Adjustments | Consolidated | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(in millions) | (in millions) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Revenues from: | Revenues from: | Revenues from: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
External Customers | External Customers | $ | 2,504.5 | $ | 1,082.3 | $ | 87.9 | $ | 601.7 | $ | 4.7 | $ | 0 | $ | 4,281.1 | External Customers | $ | 2,716.8 | $ | 1,195.0 | $ | 90.3 | $ | 617.4 | $ | 3.5 | $ | — | $ | 4,623.0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Operating Segments | Other Operating Segments | 32.8 | 5.8 | 289.1 | 32.5 | 8.2 | (368.4) | 0 | Other Operating Segments | 42.5 | 5.3 | 301.3 | 3.7 | 23.2 | (376.0) | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Revenues | Total Revenues | $ | 2,537.3 | $ | 1,088.1 | $ | 377.0 | $ | 634.2 | $ | 12.9 | $ | (368.4) | $ | 4,281.1 | Total Revenues | $ | 2,759.3 | $ | 1,200.3 | $ | 391.6 | $ | 621.1 | $ | 26.7 | $ | (376.0) | $ | 4,623.0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Net Income (Loss) | Net Income (Loss) | $ | 271.4 | $ | 114.4 | $ | 173.2 | $ | 38.2 | $ | (18.4) | $ | 0 | $ | 578.8 | Net Income (Loss) | $ | 438.7 | $ | 155.9 | $ | 167.9 | $ | 99.5 | $ | (65.1) | $ | — | $ | 796.9 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Three Months Ended March 31, 2020 | Three Months Ended September 30, 2020 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Vertically Integrated Utilities | Transmission and Distribution Utilities | AEP Transmission Holdco | Generation & Marketing | Corporate and Other (a) | Reconciling Adjustments | Consolidated | Vertically Integrated Utilities | Transmission and Distribution Utilities | AEP Transmission Holdco | Generation & Marketing | Corporate and Other (a) | Reconciling Adjustments | Consolidated | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(in millions) | (in millions) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Revenues from: | Revenues from: | Revenues from: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
External Customers | External Customers | $ | 2,193.0 | $ | 1,075.2 | $ | 73.1 | $ | 408.4 | $ | (2.2) | $ | 0 | $ | 3,747.5 | External Customers | $ | 2,400.1 | $ | 1,124.1 | $ | 73.4 | $ | 464.8 | $ | 4.0 | $ | — | $ | 4,066.4 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Operating Segments | Other Operating Segments | 33.7 | 31.7 | 237.1 | 30.2 | 22.1 | (354.8) | 0 | Other Operating Segments | 34.7 | 41.2 | 244.5 | 25.2 | 28.6 | (374.2) | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Revenues | Total Revenues | $ | 2,226.7 | $ | 1,106.9 | $ | 310.2 | $ | 438.6 | $ | 19.9 | $ | (354.8) | $ | 3,747.5 | Total Revenues | $ | 2,434.8 | $ | 1,165.3 | $ | 317.9 | $ | 490.0 | $ | 32.6 | $ | (374.2) | $ | 4,066.4 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Net Income (Loss) | Net Income (Loss) | $ | 246.3 | $ | 116.2 | $ | 141.6 | $ | 30.5 | $ | (35.3) | $ | 0 | $ | 499.3 | Net Income (Loss) | $ | 394.2 | $ | 147.4 | $ | 139.3 | $ | 114.6 | $ | (47.3) | $ | — | $ | 748.2 |
Nine Months Ended September 30, 2021 | |||||||||||||||||||||||||||||||||||||||||
Vertically Integrated Utilities | Transmission and Distribution Utilities | AEP Transmission Holdco | Generation & Marketing | Corporate and Other (a) | Reconciling Adjustments | Consolidated | |||||||||||||||||||||||||||||||||||
(in millions) | |||||||||||||||||||||||||||||||||||||||||
Revenues from: | |||||||||||||||||||||||||||||||||||||||||
External Customers | $ | 7,445.9 | $ | 3,366.9 | $ | 264.6 | $ | 1,641.6 | $ | 11.6 | $ | — | $ | 12,730.6 | |||||||||||||||||||||||||||
Other Operating Segments | 111.3 | 24.9 | 882.2 | 50.3 | 43.5 | (1,112.2) | — | ||||||||||||||||||||||||||||||||||
Total Revenues | $ | 7,557.2 | $ | 3,391.8 | $ | 1,146.8 | $ | 1,691.9 | $ | 55.1 | $ | (1,112.2) | $ | 12,730.6 | |||||||||||||||||||||||||||
Net Income (Loss) | $ | 938.9 | $ | 424.0 | $ | 510.7 | $ | 184.2 | $ | (108.3) | $ | — | $ | 1,949.5 | |||||||||||||||||||||||||||
Nine Months Ended September 30, 2020 | |||||||||||||||||||||||||||||||||||||||||
Vertically Integrated Utilities | Transmission and Distribution Utilities | AEP Transmission Holdco | Generation & Marketing | Corporate and Other (a) | Reconciling Adjustments | Consolidated | |||||||||||||||||||||||||||||||||||
(in millions) | |||||||||||||||||||||||||||||||||||||||||
Revenues from: | |||||||||||||||||||||||||||||||||||||||||
External Customers | $ | 6,655.4 | $ | 3,208.7 | $ | 215.7 | $ | 1,223.4 | $ | 4.7 | $ | — | $ | 11,307.9 | |||||||||||||||||||||||||||
Other Operating Segments | 98.1 | 98.0 | 662.1 | 82.1 | 67.3 | (1,007.6) | — | ||||||||||||||||||||||||||||||||||
Total Revenues | $ | 6,753.5 | $ | 3,306.7 | $ | 877.8 | $ | 1,305.5 | $ | 72.0 | $ | (1,007.6) | $ | 11,307.9 | |||||||||||||||||||||||||||
Net Income (Loss) | $ | 896.8 | $ | 403.1 | $ | 373.1 | $ | 203.6 | $ | (114.6) | $ | — | $ | 1,762.0 |
March 31, 2021 | September 30, 2021 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Vertically Integrated Utilities | Transmission and Distribution Utilities | AEP Transmission Holdco | Generation & Marketing | Corporate and Other (a) | Reconciling Adjustments | Consolidated | Vertically Integrated Utilities | Transmission and Distribution Utilities | AEP Transmission Holdco | Generation & Marketing | Corporate and Other (a) | Reconciling Adjustments | Consolidated | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(in millions) | (in millions) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Property, Plant and Equipment | Total Property, Plant and Equipment | $ | 49,448.9 | $ | 21,492.9 | $ | 12,185.2 | $ | 2,080.6 | $ | 405.3 | $ | 0 | $ | 85,612.9 | Total Property, Plant and Equipment | $ | 50,990.6 | $ | 22,171.7 | $ | 12,865.6 | $ | 2,125.8 | $ | 414.5 | $ | — | $ | 88,568.2 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accumulated Depreciation and Amortization | Accumulated Depreciation and Amortization | 15,950.1 | 3,951.3 | 648.1 | 183.8 | 183.5 | 0 | 20,916.8 | Accumulated Depreciation and Amortization | 16,647.1 | 4,059.9 | 758.1 | 222.8 | 189.1 | — | 21,877.0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Property Plant and Equipment - Net | Total Property Plant and Equipment - Net | $ | 33,498.8 | $ | 17,541.6 | $ | 11,537.1 | $ | 1,896.8 | $ | 221.8 | $ | 0 | $ | 64,696.1 | Total Property Plant and Equipment - Net | $ | 34,343.5 | $ | 18,111.8 | $ | 12,107.5 | $ | 1,903.0 | $ | 225.4 | $ | — | $ | 66,691.2 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Assets | Total Assets | $ | 44,591.3 | $ | 20,076.9 | $ | 12,925.8 | $ | 3,881.8 | $ | 6,072.0 | (b) | $ | (4,562.7) | (c) | $ | 82,985.1 | Total Assets | $ | 45,775.5 | $ | 21,053.1 | $ | 13,287.6 | $ | 4,387.6 | $ | 6,421.4 | (b) | $ | (4,588.1) | (c) | $ | 86,337.1 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Long-term Debt Due Within One Year: | Long-term Debt Due Within One Year: | Long-term Debt Due Within One Year: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Nonaffiliated | Nonaffiliated | $ | 1,078.3 | $ | 589.0 | $ | 52.4 | $ | 0 | $ | 410.5 | (d) | $ | 0 | $ | 2,130.2 | Nonaffiliated | $ | 1,243.0 | $ | 815.2 | $ | 52.4 | $ | — | $ | 411.2 | (d) | $ | — | $ | 2,521.8 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Long-term Debt: | Long-term Debt: | Long-term Debt: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Affiliated | Affiliated | 65.0 | 0 | 0 | 0 | 0 | (65.0) | 0 | Affiliated | 65.0 | — | — | — | — | (65.0) | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Nonaffiliated | Nonaffiliated | 13,185.8 | 7,097.4 | 4,089.7 | 0 | 5,841.9 | (d) | 0 | 30,214.8 | Nonaffiliated | 13,616.0 | 7,869.0 | 4,544.2 | — | 6,027.3 | (d) | — | 32,056.5 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Long-term Debt | Total Long-term Debt | $ | 14,329.1 | $ | 7,686.4 | $ | 4,142.1 | $ | 0 | $ | 6,252.4 | (d) | $ | (65.0) | $ | 32,345.0 | Total Long-term Debt | $ | 14,924.0 | $ | 8,684.2 | $ | 4,596.6 | $ | — | $ | 6,438.5 | (d) | $ | (65.0) | $ | 34,578.3 |
December 31, 2020 | December 31, 2020 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Vertically Integrated Utilities | Transmission and Distribution Utilities | AEP Transmission Holdco | Generation & Marketing | Corporate and Other (a) | Reconciling Adjustments | Consolidated | Vertically Integrated Utilities | Transmission and Distribution Utilities | AEP Transmission Holdco | Generation & Marketing | Corporate and Other (a) | Reconciling Adjustments | Consolidated | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(in millions) | (in millions) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Property, Plant and Equipment | Total Property, Plant and Equipment | $ | 49,023.3 | $ | 21,145.0 | $ | 11,827.2 | $ | 1,910.2 | $ | 407.3 | $ | 0 | $ | 84,313.0 | Total Property, Plant and Equipment | $ | 49,023.3 | $ | 21,145.0 | $ | 11,827.2 | $ | 1,910.2 | $ | 407.3 | $ | — | $ | 84,313.0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accumulated Depreciation and Amortization | Accumulated Depreciation and Amortization | 15,586.2 | 3,879.3 | 595.7 | 166.1 | 184.1 | 0 | 20,411.4 | Accumulated Depreciation and Amortization | 15,586.2 | 3,879.3 | 595.7 | 166.1 | 184.1 | — | 20,411.4 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Property Plant and Equipment - Net | Total Property Plant and Equipment - Net | $ | 33,437.1 | $ | 17,265.7 | $ | 11,231.5 | $ | 1,744.1 | $ | 223.2 | $ | 0 | $ | 63,901.6 | Total Property Plant and Equipment - Net | $ | 33,437.1 | $ | 17,265.7 | $ | 11,231.5 | $ | 1,744.1 | $ | 223.2 | $ | — | $ | 63,901.6 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Assets | Total Assets | $ | 42,752.7 | $ | 19,765.9 | $ | 12,627.3 | $ | 3,585.9 | $ | 5,987.1 | (b) | $ | (3,961.7) | (c) | $ | 80,757.2 | Total Assets | $ | 42,752.7 | $ | 19,765.9 | $ | 12,627.3 | $ | 3,585.9 | $ | 5,987.1 | (b) | $ | (3,961.7) | (c) | $ | 80,757.2 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Long-term Debt Due Within One Year: | Long-term Debt Due Within One Year: | Long-term Debt Due Within One Year: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Nonaffiliated | Nonaffiliated | $ | 1,034.6 | $ | 588.8 | $ | 52.3 | $ | 0 | $ | 410.4 | (d) | $ | 0 | $ | 2,086.1 | Nonaffiliated | $ | 1,034.6 | $ | 588.8 | $ | 52.3 | $ | — | $ | 410.4 | (d) | $ | — | $ | 2,086.1 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Long-term Debt: | Long-term Debt: | Long-term Debt: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Affiliated | Affiliated | 65.0 | 0 | 0 | 0 | 0 | (65.0) | 0 | Affiliated | 65.0 | — | — | — | — | (65.0) | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Nonaffiliated | Nonaffiliated | 12,375.6 | 6,661.9 | 4,075.7 | 0 | 5,873.2 | (d) | 0 | 28,986.4 | Nonaffiliated | 12,375.6 | 6,661.9 | 4,075.7 | — | 5,873.2 | (d) | — | 28,986.4 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Long-term Debt | Total Long-term Debt | $ | 13,475.2 | $ | 7,250.7 | $ | 4,128.0 | $ | 0 | $ | 6,283.6 | (d) | $ | (65.0) | $ | 31,072.5 | Total Long-term Debt | $ | 13,475.2 | $ | 7,250.7 | $ | 4,128.0 | $ | — | $ | 6,283.6 | (d) | $ | (65.0) | $ | 31,072.5 |
Three Months Ended March 31, 2021 | Three Months Ended September 30, 2021 | |||||||||||||||||||||||||||||||||||||||||||||
State Transcos | AEPTCo Parent | Reconciling Adjustments | AEPTCo Consolidated | State Transcos | AEPTCo Parent | Reconciling Adjustments | AEPTCo Consolidated | |||||||||||||||||||||||||||||||||||||||
(in millions) | (in millions) | |||||||||||||||||||||||||||||||||||||||||||||
Revenues from: | Revenues from: | Revenues from: | ||||||||||||||||||||||||||||||||||||||||||||
External Customers | External Customers | $ | 76.0 | $ | 0 | $ | 0 | $ | 76.0 | External Customers | $ | 79.2 | $ | — | $ | — | $ | 79.2 | ||||||||||||||||||||||||||||
Sales to AEP Affiliates | Sales to AEP Affiliates | 285.6 | 0 | 0 | 285.6 | Sales to AEP Affiliates | 297.6 | — | — | 297.6 | ||||||||||||||||||||||||||||||||||||
Other Revenues | Other Revenues | 0.1 | 0 | 0 | 0.1 | Other Revenues | 0.2 | — | — | 0.2 | ||||||||||||||||||||||||||||||||||||
Total Revenues | Total Revenues | $ | 361.7 | $ | 0 | $ | 0 | $ | 361.7 | Total Revenues | $ | 377.0 | $ | — | $ | — | $ | 377.0 | ||||||||||||||||||||||||||||
Interest Income | Interest Income | $ | 0 | $ | 38.3 | $ | (38.2) | (a) | $ | 0.1 | Interest Income | $ | 0.1 | $ | 40.3 | $ | (40.2) | (a) | $ | 0.2 | ||||||||||||||||||||||||||
Interest Expense | Interest Expense | 34.1 | 38.2 | (38.2) | (a) | 34.1 | Interest Expense | 36.1 | 40.2 | (40.2) | (a) | 36.1 | ||||||||||||||||||||||||||||||||||
Income Tax Expense | Income Tax Expense | 39.6 | 0 | 0 | 39.6 | Income Tax Expense | 36.7 | — | — | 36.7 | ||||||||||||||||||||||||||||||||||||
Net Income | Net Income | $ | 151.7 | $ | 0 | (b) | $ | 0 | $ | 151.7 | Net Income | $ | 145.3 | $ | 0.1 | (b) | $ | — | $ | 145.4 | ||||||||||||||||||||||||||
Three Months Ended March 31, 2020 | Three Months Ended September 30, 2020 | |||||||||||||||||||||||||||||||||||||||||||||
State Transcos | AEPTCo Parent | Reconciling Adjustments | AEPTCo Consolidated | State Transcos | AEPTCo Parent | Reconciling Adjustments | AEPTCo Consolidated | |||||||||||||||||||||||||||||||||||||||
(in millions) | (in millions) | |||||||||||||||||||||||||||||||||||||||||||||
Revenues from: | Revenues from: | Revenues from: | ||||||||||||||||||||||||||||||||||||||||||||
External Customers | External Customers | $ | 61.3 | $ | 0 | $ | 0 | $ | 61.3 | External Customers | $ | 62.9 | $ | — | $ | — | $ | 62.9 | ||||||||||||||||||||||||||||
Sales to AEP Affiliates | Sales to AEP Affiliates | 233.7 | 0 | 0 | 233.7 | Sales to AEP Affiliates | 241.2 | — | — | 241.2 | ||||||||||||||||||||||||||||||||||||
Other Revenues | 0.6 | 0 | 0 | 0.6 | ||||||||||||||||||||||||||||||||||||||||||
Total Revenues | Total Revenues | $ | 295.6 | $ | 0 | $ | 0 | $ | 295.6 | Total Revenues | $ | 304.1 | $ | — | $ | — | $ | 304.1 | ||||||||||||||||||||||||||||
Interest Income | Interest Income | $ | 0.2 | $ | 34.0 | $ | (33.4) | (a) | $ | 0.8 | Interest Income | $ | — | $ | 38.4 | $ | (38.2) | (a) | $ | 0.2 | ||||||||||||||||||||||||||
Interest Expense | Interest Expense | 29.6 | 33.4 | (33.4) | (a) | 29.6 | Interest Expense | 32.7 | 38.2 | (38.2) | (a) | 32.7 | ||||||||||||||||||||||||||||||||||
Income Tax Expense | Income Tax Expense | 31.8 | 0 | 0 | 31.8 | Income Tax Expense | 31.7 | — | — | 31.7 | ||||||||||||||||||||||||||||||||||||
Net Income | Net Income | $ | 117.3 | $ | 0.5 | (b) | $ | 0 | $ | 117.8 | Net Income | $ | 117.5 | $ | 0.1 | (b) | $ | — | $ | 117.6 |
March 31, 2021 | |||||||||||||||||||||||
State Transcos | AEPTCo Parent | Reconciling Adjustments | AEPTCo Consolidated | ||||||||||||||||||||
(in millions) | |||||||||||||||||||||||
Total Transmission Property | $ | 11,694.0 | $ | 0 | $ | 0 | $ | 11,694.0 | |||||||||||||||
Accumulated Depreciation and Amortization | 623.6 | 0 | 0 | 623.6 | |||||||||||||||||||
Total Transmission Property – Net | $ | 11,070.4 | $ | 0 | $ | 0 | $ | 11,070.4 | |||||||||||||||
Notes Receivable - Affiliated | $ | 0 | $ | 3,899.0 | $ | (3,899.0) | (c) | $ | 0 | ||||||||||||||
Total Assets | $ | 11,458.3 | $ | 4,107.2 | (d) | $ | (4,050.4) | (e) | $ | 11,515.1 | |||||||||||||
Total Long-term Debt | $ | 3,990.0 | $ | 3,949.0 | $ | (3,990.0) | (c) | $ | 3,949.0 | ||||||||||||||
December 31, 2020 | |||||||||||||||||||||||
State Transcos | AEPTCo Parent | Reconciling Adjustments | AEPTCo Consolidated | ||||||||||||||||||||
(in millions) | |||||||||||||||||||||||
Total Transmission Property | $ | 11,345.6 | $ | 0 | $ | 0 | $ | 11,345.6 | |||||||||||||||
Accumulated Depreciation and Amortization | 572.8 | 0 | 0 | 572.8 | |||||||||||||||||||
Total Transmission Property – Net | $ | 10,772.8 | $ | 0 | $ | 0 | $ | 10,772.8 | |||||||||||||||
Notes Receivable - Affiliated | $ | 0 | $ | 3,948.5 | $ | (3,948.5) | (c) | $ | 0 | ||||||||||||||
Total Assets | $ | 11,185.1 | $ | 4,084.0 | (d) | $ | (4,023.1) | (e) | $ | 11,246.0 | |||||||||||||
Total Long-term Debt | $ | 3,990.0 | $ | 3,948.5 | $ | (3,990.0) | (c) | $ | 3,948.5 |
Nine Months Ended September 30, 2021 | |||||||||||||||||||||||
State Transcos | AEPTCo Parent | Reconciling Adjustments | AEPTCo Consolidated | ||||||||||||||||||||
(in millions) | |||||||||||||||||||||||
Revenues from: | |||||||||||||||||||||||
External Customers | $ | 239.3 | $ | — | $ | — | $ | 239.3 | |||||||||||||||
Sales to AEP Affiliates | 864.6 | — | — | 864.6 | |||||||||||||||||||
Other Revenues | 0.3 | — | — | 0.3 | |||||||||||||||||||
Total Revenues | $ | 1,104.2 | $ | — | $ | — | $ | 1,104.2 | |||||||||||||||
Interest Income | $ | 0.1 | $ | 117.0 | $ | (116.7) | (a) | $ | 0.4 | ||||||||||||||
Interest Expense | 104.5 | 116.6 | (116.6) | (a) | 104.5 | ||||||||||||||||||
Income Tax Expense | 115.4 | — | — | 115.4 | |||||||||||||||||||
Net Income | $ | 445.5 | $ | 0.2 | (b) | $ | — | $ | 445.7 | ||||||||||||||
Nine Months Ended September 30, 2020 | |||||||||||||||||||||||
State Transcos | AEPTCo Parent | Reconciling Adjustments | AEPTCo Consolidated | ||||||||||||||||||||
(in millions) | |||||||||||||||||||||||
Revenues from: | |||||||||||||||||||||||
External Customers | $ | 184.6 | $ | — | $ | — | $ | 184.6 | |||||||||||||||
Sales to AEP Affiliates | 652.6 | — | — | 652.6 | |||||||||||||||||||
Other Revenues | 0.6 | — | — | 0.6 | |||||||||||||||||||
Total Revenues | $ | 837.8 | $ | — | $ | — | $ | 837.8 | |||||||||||||||
Interest Income | $ | 0.9 | $ | 111.3 | $ | (109.9) | (a) | $ | 2.3 | ||||||||||||||
Interest Expense | 95.1 | 109.9 | (109.9) | (a) | 95.1 | ||||||||||||||||||
Income Tax Expense | 82.7 | 0.1 | — | 82.8 | |||||||||||||||||||
Net Income | $ | 308.0 | $ | 1.1 | (b) | $ | — | $ | 309.1 |
September 30, 2021 | |||||||||||||||||||||||
State Transcos | AEPTCo Parent | Reconciling Adjustments | AEPTCo Consolidated | ||||||||||||||||||||
(in millions) | |||||||||||||||||||||||
Total Transmission Property | $ | 12,359.3 | $ | — | $ | — | $ | 12,359.3 | |||||||||||||||
Accumulated Depreciation and Amortization | 730.4 | — | — | 730.4 | |||||||||||||||||||
Total Transmission Property – Net | $ | 11,628.9 | $ | — | $ | — | $ | 11,628.9 | |||||||||||||||
Notes Receivable - Affiliated | $ | — | $ | 4,343.5 | $ | (4,343.5) | (c) | $ | — | ||||||||||||||
Total Assets | $ | 11,984.7 | $ | 4,445.3 | (d) | $ | (4,498.9) | (e) | $ | 11,931.1 | |||||||||||||
Total Long-term Debt | $ | 4,440.0 | $ | 4,393.4 | $ | (4,440.0) | (c) | $ | 4,393.4 | ||||||||||||||
December 31, 2020 | |||||||||||||||||||||||
State Transcos | AEPTCo Parent | Reconciling Adjustments | AEPTCo Consolidated | ||||||||||||||||||||
(in millions) | |||||||||||||||||||||||
Total Transmission Property | $ | 11,345.6 | $ | — | $ | — | $ | 11,345.6 | |||||||||||||||
Accumulated Depreciation and Amortization | 572.8 | — | — | 572.8 | |||||||||||||||||||
Total Transmission Property – Net | $ | 10,772.8 | $ | — | $ | — | $ | 10,772.8 | |||||||||||||||
Notes Receivable - Affiliated | $ | — | $ | 3,948.5 | $ | (3,948.5) | (c) | $ | — | ||||||||||||||
Total Assets | $ | 11,185.1 | $ | 4,084.0 | (d) | $ | (4,023.1) | (e) | $ | 11,246.0 | |||||||||||||
Total Long-term Debt | $ | 3,990.0 | $ | 3,948.5 | $ | (3,990.0) | (c) | $ | 3,948.5 |
Primary Risk Exposure | Primary Risk Exposure | Unit of Measure | AEP | AEP Texas | APCo | I&M | OPCo | PSO | SWEPCo | Primary Risk Exposure | Unit of Measure | AEP | AEP Texas | APCo | I&M | OPCo | PSO | SWEPCo | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(in millions) | (in millions) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commodity: | Commodity: | Commodity: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Power | Power | MWhs | 271.2 | 0 | 23.3 | 10.8 | 2.9 | 3.8 | 1.6 | Power | MWhs | 341.9 | — | 55.4 | 23.1 | 2.8 | 18.7 | 5.4 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Natural Gas | Natural Gas | MMBtus | 22.7 | 0 | 0 | 0 | 0 | 0 | 7.0 | Natural Gas | MMBtus | 28.1 | — | — | — | — | — | 5.2 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Heating Oil and Gasoline | Heating Oil and Gasoline | Gallons | 5.0 | 1.3 | 0.8 | 0.5 | 1.0 | 0.5 | 0.7 | Heating Oil and Gasoline | Gallons | 7.8 | 2.0 | 1.2 | 0.7 | 1.5 | 0.9 | 1.1 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | Interest Rate | USD | $ | 123.6 | $ | 0 | $ | 0 | $ | 0 | $ | 0 | $ | 0 | $ | 0 | Interest Rate | USD | $ | 116.5 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate on Long-term Debt | Interest Rate on Long-term Debt | USD | $ | 950.0 | $ | 0 | $ | 0 | $ | 0 | $ | 0 | $ | 0 | $ | 0 | Interest Rate on Long-term Debt | USD | $ | 1,250.0 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — |
Primary Risk Exposure | Primary Risk Exposure | Unit of Measure | AEP | AEP Texas | APCo | I&M | OPCo | PSO | SWEPCo | Primary Risk Exposure | Unit of Measure | AEP | AEP Texas | APCo | I&M | OPCo | PSO | SWEPCo | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(in millions) | (in millions) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commodity: | Commodity: | Commodity: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Power | Power | MWhs | 331.3 | 0 | 46.9 | 19.7 | 3.0 | 11.9 | 4.0 | Power | MWhs | 331.3 | — | 46.9 | 19.7 | 3.0 | 11.9 | 4.0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Natural Gas | Natural Gas | MMBtus | 26.9 | 0 | 0 | 0 | 0 | 0 | 7.9 | Natural Gas | MMBtus | 26.9 | — | — | — | — | — | 7.9 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Heating Oil and Gasoline | Heating Oil and Gasoline | Gallons | 6.9 | 1.8 | 1.1 | 0.6 | 1.4 | 0.7 | 0.9 | Heating Oil and Gasoline | Gallons | 6.9 | 1.8 | 1.1 | 0.6 | 1.4 | 0.7 | 0.9 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | Interest Rate | USD | $ | 129.8 | $ | 0 | $ | 0 | $ | 0 | $ | 0 | $ | 0 | $ | 0 | Interest Rate | USD | $ | 129.8 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate on Long-term Debt | Interest Rate on Long-term Debt | USD | $ | 1,150.0 | $ | 0 | $ | 200.0 | $ | 0 | $ | 0 | $ | 0 | $ | 0 | Interest Rate on Long-term Debt | USD | $ | 1,150.0 | $ | — | $ | 200.0 | $ | — | $ | — | $ | — | $ | — |
September 30, 2021 | December 31, 2020 | |||||||||||||||||||||||||
Cash Collateral | Cash Collateral | Cash Collateral | Cash Collateral | |||||||||||||||||||||||
Received | Paid | Received | Paid | |||||||||||||||||||||||
Netted Against | Netted Against | Netted Against | Netted Against | |||||||||||||||||||||||
Risk Management | Risk Management | Risk Management | Risk Management | |||||||||||||||||||||||
Company | Assets | Liabilities | Assets | Liabilities | ||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||||
AEP | $ | 309.7 | $ | 38.3 | $ | 3.4 | $ | 6.8 | ||||||||||||||||||
APCo | 0.6 | 10.7 | 0.4 | — | ||||||||||||||||||||||
I&M | 0.3 | 17.4 | 1.7 | — |
March 31, 2021 | September 30, 2021 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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) | 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 | Balance Sheet Location | Commodity (a) | Commodity (a) | Interest Rate (a) | Balance Sheet Location | Commodity (a) | Commodity (a) | Interest Rate (a) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(in millions) | (in millions) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Current Risk Management Assets | Current Risk Management Assets | $ | 164.1 | $ | 34.8 | $ | 2.7 | $ | 201.6 | $ | (129.5) | $ | 72.1 | Current Risk Management Assets | $ | 1,005.5 | $ | 321.1 | $ | 8.3 | $ | 1,334.9 | $ | (965.7) | $ | 369.2 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Long-term Risk Management Assets | Long-term Risk Management Assets | 266.9 | 18.8 | 0 | 285.7 | (20.9) | 264.8 | Long-term Risk Management Assets | 337.3 | 85.8 | — | 423.1 | (144.8) | 278.3 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Assets | Total Assets | 431.0 | 53.6 | 2.7 | 487.3 | (150.4) | 336.9 | Total Assets | 1,342.8 | 406.9 | 8.3 | 1,758.0 | (1,110.5) | 647.5 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Current Risk Management Liabilities | Current Risk Management Liabilities | 133.6 | 34.8 | 0 | 168.4 | (129.3) | 39.1 | Current Risk Management Liabilities | 834.5 | 33.1 | — | 867.6 | (761.1) | 106.5 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Long-term Risk Management Liabilities | Long-term Risk Management Liabilities | 219.8 | 41.6 | 37.4 | 298.8 | (25.8) | 273.0 | Long-term Risk Management Liabilities | 234.6 | 14.3 | 28.8 | 277.7 | (78.1) | 199.6 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Liabilities | Total Liabilities | 353.4 | 76.4 | 37.4 | 467.2 | (155.1) | 312.1 | Total Liabilities | 1,069.1 | 47.4 | 28.8 | 1,145.3 | (839.2) | 306.1 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total MTM Derivative Contract Net Assets (Liabilities) | Total MTM Derivative Contract Net Assets (Liabilities) | $ | 77.6 | $ | (22.8) | $ | (34.7) | $ | 20.1 | $ | 4.7 | $ | 24.8 | Total MTM Derivative Contract Net Assets (Liabilities) | $ | 273.7 | $ | 359.5 | $ | (20.5) | $ | 612.7 | $ | (271.3) | $ | 341.4 |
December 31, 2020 | December 31, 2020 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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) | 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 | Balance Sheet Location | Commodity (a) | Commodity (a) | Interest Rate (a) | Balance Sheet Location | Commodity (a) | Commodity (a) | Interest Rate (a) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(in millions) | (in millions) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Current Risk Management Assets | Current Risk Management Assets | $ | 239.1 | $ | 21.1 | $ | 5.0 | $ | 265.2 | $ | (170.5) | $ | 94.7 | Current Risk Management Assets | $ | 239.1 | $ | 21.1 | $ | 5.0 | $ | 265.2 | $ | (170.5) | $ | 94.7 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Long-term Risk Management Assets | Long-term Risk Management Assets | 275.9 | 18.0 | 0 | 293.9 | (51.7) | 242.2 | Long-term Risk Management Assets | 275.9 | 18.0 | — | 293.9 | (51.7) | 242.2 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Assets | Total Assets | 515.0 | 39.1 | 5.0 | 559.1 | (222.2) | 336.9 | Total Assets | 515.0 | 39.1 | 5.0 | 559.1 | (222.2) | 336.9 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Current Risk Management Liabilities | Current Risk Management Liabilities | 193.0 | 54.4 | 3.4 | 250.8 | (172.0) | 78.8 | Current Risk Management Liabilities | 193.0 | 54.4 | 3.4 | 250.8 | (172.0) | 78.8 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Long-term Risk Management Liabilities | Long-term Risk Management Liabilities | 222.2 | 60.1 | 4.1 | 286.4 | (53.6) | 232.8 | Long-term Risk Management Liabilities | 222.2 | 60.1 | 4.1 | 286.4 | (53.6) | 232.8 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Liabilities | Total Liabilities | 415.2 | 114.5 | 7.5 | 537.2 | (225.6) | 311.6 | Total Liabilities | 415.2 | 114.5 | 7.5 | 537.2 | (225.6) | 311.6 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total MTM Derivative Contract Net Assets (Liabilities) | Total MTM Derivative Contract Net Assets (Liabilities) | $ | 99.8 | $ | (75.4) | $ | (2.5) | $ | 21.9 | $ | 3.4 | $ | 25.3 | Total MTM Derivative Contract Net Assets (Liabilities) | $ | 99.8 | $ | (75.4) | $ | (2.5) | $ | 21.9 | $ | 3.4 | $ | 25.3 |
March 31, 2021 | September 30, 2021 | |||||||||||||||||||||||||||||||||||||||
Risk Management | Gross Amounts Offset | Net Amounts of Assets/Liabilities | Risk Management | Gross Amounts Offset | Net Amounts of Assets/Liabilities | |||||||||||||||||||||||||||||||||||
Contracts – | in the Statement of | Presented in the Statement of | Contracts – | in the Statement of | Presented in the Statement of | |||||||||||||||||||||||||||||||||||
Balance Sheet Location | Balance Sheet Location | Commodity (a) | Financial Position (b) | Financial Position (c) | Balance Sheet Location | Commodity (a) | Financial Position (b) | Financial Position (c) | ||||||||||||||||||||||||||||||||
(in millions) | (in millions) | |||||||||||||||||||||||||||||||||||||||
Current Risk Management Assets | Current Risk Management Assets | $ | 0.8 | $ | (0.8) | $ | 0 | Current Risk Management Assets | $ | 0.8 | $ | (0.8) | $ | — | ||||||||||||||||||||||||||
Long-term Risk Management Assets | Long-term Risk Management Assets | 0 | 0 | 0 | Long-term Risk Management Assets | 0.1 | (0.1) | — | ||||||||||||||||||||||||||||||||
Total Assets | Total Assets | 0.8 | (0.8) | 0 | Total Assets | 0.9 | (0.9) | — | ||||||||||||||||||||||||||||||||
Current Risk Management Liabilities | Current Risk Management Liabilities | 0 | 0 | 0 | Current Risk Management Liabilities | — | — | — | ||||||||||||||||||||||||||||||||
Long-term Risk Management Liabilities | Long-term Risk Management Liabilities | 0 | 0 | 0 | Long-term Risk Management Liabilities | — | — | — | ||||||||||||||||||||||||||||||||
Total Liabilities | Total Liabilities | 0 | 0 | 0 | Total Liabilities | — | — | — | ||||||||||||||||||||||||||||||||
Total MTM Derivative Contract Net Assets (Liabilities) | Total MTM Derivative Contract Net Assets (Liabilities) | $ | 0.8 | $ | (0.8) | $ | 0 | Total MTM Derivative Contract Net Assets (Liabilities) | $ | 0.9 | $ | (0.9) | $ | — |
December 31, 2020 | December 31, 2020 | |||||||||||||||||||||||||||||||||||||||
Risk Management | Gross Amounts Offset | Net Amounts of Assets/Liabilities | Risk Management | Gross Amounts Offset | Net Amounts of Assets/Liabilities | |||||||||||||||||||||||||||||||||||
Contracts – | in the Statement of | Presented in the Statement of | Contracts – | in the Statement of | Presented in the Statement of | |||||||||||||||||||||||||||||||||||
Balance Sheet Location | Balance Sheet Location | Commodity (a) | Financial Position (b) | Financial Position (c) | Balance Sheet Location | Commodity (a) | Financial Position (b) | Financial Position (c) | ||||||||||||||||||||||||||||||||
(in millions) | (in millions) | |||||||||||||||||||||||||||||||||||||||
Current Risk Management Assets | Current Risk Management Assets | $ | 0.4 | $ | (0.4) | $ | 0 | Current Risk Management Assets | $ | 0.4 | $ | (0.4) | $ | — | ||||||||||||||||||||||||||
Long-term Risk Management Assets | Long-term Risk Management Assets | 0 | 0 | 0 | Long-term Risk Management Assets | — | — | — | ||||||||||||||||||||||||||||||||
Total Assets | Total Assets | 0.4 | (0.4) | 0 | Total Assets | 0.4 | (0.4) | — | ||||||||||||||||||||||||||||||||
Current Risk Management Liabilities | Current Risk Management Liabilities | 0 | 0 | 0 | Current Risk Management Liabilities | — | — | — | ||||||||||||||||||||||||||||||||
Long-term Risk Management Liabilities | Long-term Risk Management Liabilities | 0 | 0 | 0 | Long-term Risk Management Liabilities | — | — | — | ||||||||||||||||||||||||||||||||
Total Liabilities | Total Liabilities | 0 | 0 | 0 | Total Liabilities | — | — | — | ||||||||||||||||||||||||||||||||
Total MTM Derivative Contract Net Assets (Liabilities) | Total MTM Derivative Contract Net Assets (Liabilities) | $ | 0.4 | $ | (0.4) | $ | 0 | Total MTM Derivative Contract Net Assets (Liabilities) | $ | 0.4 | $ | (0.4) | $ | — |
March 31, 2021 | September 30, 2021 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Risk Management | Gross Amounts Offset | Net Amounts of Assets/Liabilities | Risk Management | Gross Amounts Offset | Net Amounts of Assets/Liabilities | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Contracts – | in the Statement of | Presented in the Statement | Contracts – | in the Statement of | Presented in the Statement | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance Sheet Location | Balance Sheet Location | Commodity (a) | Financial Position (b) | of Financial Position (c) | Balance Sheet Location | Commodity (a) | Financial Position (b) | of Financial Position (c) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(in millions) | (in millions) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Current Risk Management Assets | Current Risk Management Assets | $ | 16.5 | $ | (9.6) | $ | 6.9 | Current Risk Management Assets | $ | 95.7 | $ | (48.7) | $ | 47.0 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Deferred Charges and Other Noncurrent Assets - Long-term Risk Management Assets | Deferred Charges and Other Noncurrent Assets - Long-term Risk Management Assets | 0.5 | (0.5) | 0 | Deferred Charges and Other Noncurrent Assets - Long-term Risk Management Assets | 0.2 | (0.2) | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Assets | Total Assets | 17.0 | (10.1) | 6.9 | Total Assets | 95.9 | (48.9) | 47.0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Current Liabilities - Current Risk Management Liabilities | Other Current Liabilities - Current Risk Management Liabilities | 9.3 | (9.1) | 0.2 | Other Current Liabilities - Current Risk Management Liabilities | 60.2 | (58.9) | 1.3 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Deferred Credits and Other Noncurrent Liabilities - Long-term Risk Management Liabilities | Deferred Credits and Other Noncurrent Liabilities - Long-term Risk Management Liabilities | 0.5 | (0.5) | 0 | Deferred Credits and Other Noncurrent Liabilities - Long-term Risk Management Liabilities | 0.2 | (0.2) | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Liabilities | Total Liabilities | 9.8 | (9.6) | 0.2 | Total Liabilities | 60.4 | (59.1) | 1.3 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total MTM Derivative Contract Net Assets (Liabilities) | $ | 7.2 | $ | (0.5) | $ | 6.7 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total MTM Derivative Contract Net Assets | Total MTM Derivative Contract Net Assets | $ | 35.5 | $ | 10.2 | $ | 45.7 |
December 31, 2020 | December 31, 2020 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Gross Amounts | Gross Amounts | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Risk | of Risk | Gross Amounts | Net Amounts of Assets/ | Risk | of Risk | Gross Amounts | Net Amounts of Assets/ | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Management | Hedging | Management | Offset in the | Liabilities Presented in | Management | Hedging | Management | Offset in the | Liabilities Presented in | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Contracts – | Contracts – | Assets/Liabilities | Statement of | the Statement of | Contracts – | Contracts – | Assets/Liabilities | Statement of | the Statement of | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance Sheet Location | Balance Sheet Location | Commodity (a) | Interest Rate (a) | Recognized | Financial Position (b) | Financial Position (c) | Balance Sheet Location | Commodity (a) | Interest Rate (a) | Recognized | Financial Position (b) | Financial Position (c) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
(in millions) | (in millions) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Current Risk Management Assets | Current Risk Management Assets | $ | 38.8 | $ | 2.4 | $ | 41.2 | $ | (18.8) | $ | 22.4 | Current Risk Management Assets | $ | 38.8 | $ | 2.4 | $ | 41.2 | $ | (18.8) | $ | 22.4 | ||||||||||||||||||||||||||||||||||||||||||
Deferred Charges and Other Noncurrent Assets - Long-term Risk Management Assets | Deferred Charges and Other Noncurrent Assets - Long-term Risk Management Assets | 0.7 | 0 | 0.7 | (0.6) | 0.1 | Deferred Charges and Other Noncurrent Assets - Long-term Risk Management Assets | 0.7 | — | 0.7 | (0.6) | 0.1 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Assets | Total Assets | 39.5 | 2.4 | 41.9 | (19.4) | 22.5 | Total Assets | 39.5 | 2.4 | 41.9 | (19.4) | 22.5 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Current Liabilities - Current Risk Management Liabilities | Other Current Liabilities - Current Risk Management Liabilities | 19.7 | 3.4 | 23.1 | (18.5) | 4.6 | Other Current Liabilities - Current Risk Management Liabilities | 19.7 | 3.4 | 23.1 | (18.5) | 4.6 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Deferred Credits and Other Noncurrent Liabilities - Long-term Risk Management Liabilities | Deferred Credits and Other Noncurrent Liabilities - Long-term Risk Management Liabilities | 0.6 | 0 | 0.6 | (0.5) | 0.1 | Deferred Credits and Other Noncurrent Liabilities - Long-term Risk Management Liabilities | 0.6 | — | 0.6 | (0.5) | 0.1 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Liabilities | Total Liabilities | 20.3 | 3.4 | 23.7 | (19.0) | 4.7 | Total Liabilities | 20.3 | 3.4 | 23.7 | (19.0) | 4.7 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Total MTM Derivative Contract Net Assets (Liabilities) | Total MTM Derivative Contract Net Assets (Liabilities) | $ | 19.2 | $ | (1.0) | $ | 18.2 | $ | (0.4) | $ | 17.8 | Total MTM Derivative Contract Net Assets (Liabilities) | $ | 19.2 | $ | (1.0) | $ | 18.2 | $ | (0.4) | $ | 17.8 |
March 31, 2021 | September 30, 2021 | |||||||||||||||||||||||||||||||||||||||
Risk Management | Gross Amounts Offset | Net Amounts of Assets/Liabilities | Risk Management | Gross Amounts Offset | Net Amounts of Assets/Liabilities | |||||||||||||||||||||||||||||||||||
Contracts – | in the Statement of | Presented in the Statement of | Contracts – | in the Statement of | Presented in the Statement of | |||||||||||||||||||||||||||||||||||
Balance Sheet Location | Balance Sheet Location | Commodity (a) | Financial Position (b) | Financial Position (c) | Balance Sheet Location | Commodity (a) | Financial Position (b) | Financial Position (c) | ||||||||||||||||||||||||||||||||
(in millions) | (in millions) | |||||||||||||||||||||||||||||||||||||||
Current Risk Management Assets | Current Risk Management Assets | $ | 6.8 | $ | (5.9) | $ | 0.9 | Current Risk Management Assets | $ | 37.8 | $ | (32.3) | $ | 5.5 | ||||||||||||||||||||||||||
Deferred Charges and Other Noncurrent Assets - Long-term Risk Management Assets | Deferred Charges and Other Noncurrent Assets - Long-term Risk Management Assets | 0.3 | (0.3) | 0 | Deferred Charges and Other Noncurrent Assets - Long-term Risk Management Assets | 0.1 | (0.1) | — | ||||||||||||||||||||||||||||||||
Total Assets | Total Assets | 7.1 | (6.2) | 0.9 | Total Assets | 37.9 | (32.4) | 5.5 | ||||||||||||||||||||||||||||||||
Other Current Liabilities - Current Risk Management Liabilities | 6.2 | (6.0) | 0.2 | |||||||||||||||||||||||||||||||||||||
Current Risk Management Liabilities | Current Risk Management Liabilities | 51.9 | (49.4) | 2.5 | ||||||||||||||||||||||||||||||||||||
Deferred Credits and Other Noncurrent Liabilities - Long-term Risk Management Liabilities | Deferred Credits and Other Noncurrent Liabilities - Long-term Risk Management Liabilities | 0.3 | (0.3) | 0 | Deferred Credits and Other Noncurrent Liabilities - Long-term Risk Management Liabilities | 0.1 | (0.1) | — | ||||||||||||||||||||||||||||||||
Total Liabilities | Total Liabilities | 6.5 | (6.3) | 0.2 | Total Liabilities | 52.0 | (49.5) | 2.5 | ||||||||||||||||||||||||||||||||
Total MTM Derivative Contract Net Assets | $ | 0.6 | $ | 0.1 | $ | 0.7 | ||||||||||||||||||||||||||||||||||
Total MTM Derivative Contract Net Assets (Liabilities) | Total MTM Derivative Contract Net Assets (Liabilities) | $ | (14.1) | $ | 17.1 | $ | 3.0 |
December 31, 2020 | December 31, 2020 | |||||||||||||||||||||||||||||||||||||||
Risk Management | Gross Amounts Offset | Net Amounts of Assets/Liabilities | Risk Management | Gross Amounts Offset | Net Amounts of Assets/Liabilities | |||||||||||||||||||||||||||||||||||
Contracts – | in the Statement of | Presented in the Statement of | Contracts – | in the Statement of | Presented in the Statement of | |||||||||||||||||||||||||||||||||||
Balance Sheet Location | Balance Sheet Location | Commodity (a) | Financial Position (b) | Financial Position (c) | Balance Sheet Location | Commodity (a) | Financial Position (b) | Financial Position (c) | ||||||||||||||||||||||||||||||||
(in millions) | (in millions) | |||||||||||||||||||||||||||||||||||||||
Current Risk Management Assets | Current Risk Management Assets | $ | 17.2 | $ | (13.6) | $ | 3.6 | Current Risk Management Assets | $ | 17.2 | $ | (13.6) | $ | 3.6 | ||||||||||||||||||||||||||
Deferred Charges and Other Noncurrent Assets - Long-term Risk Management Assets | Deferred Charges and Other Noncurrent Assets - Long-term Risk Management Assets | 0.5 | (0.4) | 0.1 | Deferred Charges and Other Noncurrent Assets - Long-term Risk Management Assets | 0.5 | (0.4) | 0.1 | ||||||||||||||||||||||||||||||||
Total Assets | Total Assets | 17.7 | (14.0) | 3.7 | Total Assets | 17.7 | (14.0) | 3.7 | ||||||||||||||||||||||||||||||||
Other Current Liabilities - Current Risk Management Liabilities | 12.1 | (12.0) | 0.1 | |||||||||||||||||||||||||||||||||||||
Current Risk Management Liabilities | Current Risk Management Liabilities | 12.1 | (12.0) | 0.1 | ||||||||||||||||||||||||||||||||||||
Deferred Credits and Other Noncurrent Liabilities - Long-term Risk Management Liabilities | Deferred Credits and Other Noncurrent Liabilities - Long-term Risk Management Liabilities | 0.4 | (0.3) | 0.1 | Deferred Credits and Other Noncurrent Liabilities - Long-term Risk Management Liabilities | 0.4 | (0.3) | 0.1 | ||||||||||||||||||||||||||||||||
Total Liabilities | Total Liabilities | 12.5 | (12.3) | 0.2 | Total Liabilities | 12.5 | (12.3) | 0.2 | ||||||||||||||||||||||||||||||||
Total MTM Derivative Contract Net Assets (Liabilities) | Total MTM Derivative Contract Net Assets (Liabilities) | $ | 5.2 | $ | (1.7) | $ | 3.5 | Total MTM Derivative Contract Net Assets (Liabilities) | $ | 5.2 | $ | (1.7) | $ | 3.5 |
March 31, 2021 | September 30, 2021 | |||||||||||||||||||||||||||||||||||||||
Risk Management | Gross Amounts Offset | Net Amounts of Assets/Liabilities | Risk Management | Gross Amounts Offset | Net Amounts of Assets/Liabilities | |||||||||||||||||||||||||||||||||||
Contracts – | in the Statement of | Presented in the Statement of | Contracts – | in the Statement of | Presented in the Statement of | |||||||||||||||||||||||||||||||||||
Balance Sheet Location | Balance Sheet Location | Commodity (a) | Financial Position (b) | Financial Position (c) | Balance Sheet Location | Commodity (a) | Financial Position (b) | Financial Position (c) | ||||||||||||||||||||||||||||||||
(in millions) | (in millions) | |||||||||||||||||||||||||||||||||||||||
Current Risk Management Assets | Current Risk Management Assets | $ | 0.6 | $ | (0.6) | $ | 0 | Current Risk Management Assets | $ | 0.6 | $ | (0.6) | $ | — | ||||||||||||||||||||||||||
Long-term Risk Management Assets | Long-term Risk Management Assets | 0 | 0 | 0 | Long-term Risk Management Assets | 0.1 | (0.1) | — | ||||||||||||||||||||||||||||||||
Total Assets | Total Assets | 0.6 | (0.6) | 0 | Total Assets | 0.7 | (0.7) | — | ||||||||||||||||||||||||||||||||
Current Risk Management Liabilities | Current Risk Management Liabilities | 8.1 | 0 | 8.1 | Current Risk Management Liabilities | 3.5 | — | 3.5 | ||||||||||||||||||||||||||||||||
Long-term Risk Management Liabilities | Long-term Risk Management Liabilities | 95.9 | 0 | 95.9 | Long-term Risk Management Liabilities | 86.9 | — | 86.9 | ||||||||||||||||||||||||||||||||
Total Liabilities | Total Liabilities | 104.0 | 0 | 104.0 | Total Liabilities | 90.4 | — | 90.4 | ||||||||||||||||||||||||||||||||
Total MTM Derivative Contract Net Liabilities | Total MTM Derivative Contract Net Liabilities | $ | (103.4) | $ | (0.6) | $ | (104.0) | Total MTM Derivative Contract Net Liabilities | $ | (89.7) | $ | (0.7) | $ | (90.4) |
December 31, 2020 | December 31, 2020 | |||||||||||||||||||||||||||||||||||||||
Risk Management | Gross Amounts Offset | Net Amounts of Assets/Liabilities | Risk Management | Gross Amounts Offset | Net Amounts of Assets/Liabilities | |||||||||||||||||||||||||||||||||||
Contracts – | in the Statement of | Presented in the Statement of | Contracts – | in the Statement of | Presented in the Statement of | |||||||||||||||||||||||||||||||||||
Balance Sheet Location | Balance Sheet Location | Commodity (a) | Financial Position (b) | Financial Position (c) | Balance Sheet Location | Commodity (a) | Financial Position (b) | Financial Position (c) | ||||||||||||||||||||||||||||||||
(in millions) | (in millions) | |||||||||||||||||||||||||||||||||||||||
Current Risk Management Assets | Current Risk Management Assets | $ | 0.3 | $ | (0.3) | $ | 0 | Current Risk Management Assets | $ | 0.3 | $ | (0.3) | $ | — | ||||||||||||||||||||||||||
Long-term Risk Management Assets | Long-term Risk Management Assets | 0 | 0 | 0 | Long-term Risk Management Assets | — | — | — | ||||||||||||||||||||||||||||||||
Total Assets | Total Assets | 0.3 | (0.3) | 0 | Total Assets | 0.3 | (0.3) | — | ||||||||||||||||||||||||||||||||
Current Risk Management Liabilities | Current Risk Management Liabilities | 8.7 | 0 | 8.7 | Current Risk Management Liabilities | 8.7 | — | 8.7 | ||||||||||||||||||||||||||||||||
Long-term Risk Management Liabilities | Long-term Risk Management Liabilities | 101.6 | 0 | 101.6 | Long-term Risk Management Liabilities | 101.6 | — | 101.6 | ||||||||||||||||||||||||||||||||
Total Liabilities | Total Liabilities | 110.3 | 0 | 110.3 | Total Liabilities | 110.3 | — | 110.3 | ||||||||||||||||||||||||||||||||
Total MTM Derivative Contract Net Liabilities | Total MTM Derivative Contract Net Liabilities | $ | (110.0) | $ | (0.3) | $ | (110.3) | Total MTM Derivative Contract Net Liabilities | $ | (110.0) | $ | (0.3) | $ | (110.3) |
March 31, 2021 | September 30, 2021 | |||||||||||||||||||||||||||||||||||||||
Risk Management | Gross Amounts Offset | Net Amounts of Assets/Liabilities | Risk Management | Gross Amounts Offset | Net Amounts of Assets/Liabilities | |||||||||||||||||||||||||||||||||||
Contracts – | in the Statement of | Presented in the Statement of | Contracts – | in the Statement of | Presented in the Statement of | |||||||||||||||||||||||||||||||||||
Balance Sheet Location | Balance Sheet Location | Commodity (a) | Financial Position (b) | Financial Position (c) | Balance Sheet Location | Commodity (a) | Financial Position (b) | Financial Position (c) | ||||||||||||||||||||||||||||||||
(in millions) | (in millions) | |||||||||||||||||||||||||||||||||||||||
Current Risk Management Assets | Current Risk Management Assets | $ | 5.8 | $ | (0.3) | $ | 5.5 | Current Risk Management Assets | $ | 19.0 | $ | (0.5) | $ | 18.5 | ||||||||||||||||||||||||||
Long-term Risk Management Assets | Long-term Risk Management Assets | 0 | 0 | 0 | Long-term Risk Management Assets | — | — | — | ||||||||||||||||||||||||||||||||
Total Assets | Total Assets | 5.8 | (0.3) | 5.5 | Total Assets | 19.0 | (0.5) | 18.5 | ||||||||||||||||||||||||||||||||
Current Risk Management Liabilities | Current Risk Management Liabilities | 0 | 0 | 0 | Current Risk Management Liabilities | 0.2 | (0.2) | — | ||||||||||||||||||||||||||||||||
Long-term Risk Management Liabilities | Long-term Risk Management Liabilities | 0 | 0 | 0 | Long-term Risk Management Liabilities | — | — | — | ||||||||||||||||||||||||||||||||
Total Liabilities | Total Liabilities | 0 | 0 | 0 | Total Liabilities | 0.2 | (0.2) | — | ||||||||||||||||||||||||||||||||
Total MTM Derivative Contract Net Assets (Liabilities) | Total MTM Derivative Contract Net Assets (Liabilities) | $ | 5.8 | $ | (0.3) | $ | 5.5 | Total MTM Derivative Contract Net Assets (Liabilities) | $ | 18.8 | $ | (0.3) | $ | 18.5 |
December 31, 2020 | December 31, 2020 | |||||||||||||||||||||||||||||||||||||||
Risk Management | Gross Amounts Offset | Net Amounts of Assets/Liabilities | Risk Management | Gross Amounts Offset | Net Amounts of Assets/Liabilities | |||||||||||||||||||||||||||||||||||
Contracts – | in the Statement of | Presented in the Statement of | Contracts – | in the Statement of | Presented in the Statement of | |||||||||||||||||||||||||||||||||||
Balance Sheet Location | Balance Sheet Location | Commodity (a) | Financial Position (b) | Financial Position (c) | Balance Sheet Location | Commodity (a) | Financial Position (b) | Financial Position (c) | ||||||||||||||||||||||||||||||||
(in millions) | (in millions) | |||||||||||||||||||||||||||||||||||||||
Current Risk Management Assets | Current Risk Management Assets | $ | 10.5 | $ | (0.2) | $ | 10.3 | Current Risk Management Assets | $ | 10.5 | $ | (0.2) | $ | 10.3 | ||||||||||||||||||||||||||
Long-term Risk Management Assets | Long-term Risk Management Assets | 0 | 0 | 0 | Long-term Risk Management Assets | — | — | — | ||||||||||||||||||||||||||||||||
Total Assets | Total Assets | 10.5 | (0.2) | 10.3 | Total Assets | 10.5 | (0.2) | 10.3 | ||||||||||||||||||||||||||||||||
Current Risk Management Liabilities | Current Risk Management Liabilities | 0 | 0 | 0 | Current Risk Management Liabilities | — | — | — | ||||||||||||||||||||||||||||||||
Long-term Risk Management Liabilities | Long-term Risk Management Liabilities | 0 | 0 | 0 | Long-term Risk Management Liabilities | — | — | — | ||||||||||||||||||||||||||||||||
Total Liabilities | Total Liabilities | 0 | 0 | 0 | Total Liabilities | — | — | — | ||||||||||||||||||||||||||||||||
Total MTM Derivative Contract Net Assets (Liabilities) | Total MTM Derivative Contract Net Assets (Liabilities) | $ | 10.5 | $ | (0.2) | $ | 10.3 | Total MTM Derivative Contract Net Assets (Liabilities) | $ | 10.5 | $ | (0.2) | $ | 10.3 |
March 31, 2021 | September 30, 2021 | |||||||||||||||||||||||||||||||||||||||
Risk Management | Gross Amounts Offset | Net Amounts of Assets/Liabilities | Risk Management | Gross Amounts Offset | Net Amounts of Assets/Liabilities | |||||||||||||||||||||||||||||||||||
Contracts – | in the Statement of | Presented in the Statement of | Contracts – | in the Statement of | Presented in the Statement of | |||||||||||||||||||||||||||||||||||
Balance Sheet Location | Balance Sheet Location | Commodity (a) | Financial Position (b) | Financial Position (c) | Balance Sheet Location | Commodity (a) | Financial Position (b) | Financial Position (c) | ||||||||||||||||||||||||||||||||
(in millions) | (in millions) | |||||||||||||||||||||||||||||||||||||||
Current Risk Management Assets | Current Risk Management Assets | $ | 1.7 | $ | (0.4) | $ | 1.3 | Current Risk Management Assets | $ | 18.1 | $ | (0.6) | $ | 17.5 | ||||||||||||||||||||||||||
Long-term Risk Management Assets | Long-term Risk Management Assets | 0 | 0 | 0 | Long-term Risk Management Assets | 2.1 | — | 2.1 | ||||||||||||||||||||||||||||||||
Total Assets | Total Assets | 1.7 | (0.4) | 1.3 | Total Assets | 20.2 | (0.6) | 19.6 | ||||||||||||||||||||||||||||||||
Current Risk Management Liabilities | Current Risk Management Liabilities | 0 | 0 | 0 | Current Risk Management Liabilities | 0.2 | (0.2) | — | ||||||||||||||||||||||||||||||||
Long-term Risk Management Liabilities | Long-term Risk Management Liabilities | 0.9 | 0 | 0.9 | Long-term Risk Management Liabilities | — | — | — | ||||||||||||||||||||||||||||||||
Total Liabilities | Total Liabilities | 0.9 | 0 | 0.9 | Total Liabilities | 0.2 | (0.2) | — | ||||||||||||||||||||||||||||||||
Total MTM Derivative Contract Net Assets (Liabilities) | Total MTM Derivative Contract Net Assets (Liabilities) | $ | 0.8 | $ | (0.4) | $ | 0.4 | Total MTM Derivative Contract Net Assets (Liabilities) | $ | 20.0 | $ | (0.4) | $ | 19.6 |
December 31, 2020 | December 31, 2020 | |||||||||||||||||||||||||||||||||||||||
Risk Management | Gross Amounts Offset | Net Amounts of Assets/Liabilities | Risk Management | Gross Amounts Offset | Net Amounts of Assets/Liabilities | |||||||||||||||||||||||||||||||||||
Contracts – | in the Statement of | Presented in the Statement of | Contracts – | in the Statement of | Presented in the Statement of | |||||||||||||||||||||||||||||||||||
Balance Sheet Location | Balance Sheet Location | Commodity (a) | Financial Position (b) | Financial Position (c) | Balance Sheet Location | Commodity (a) | Financial Position (b) | Financial Position (c) | ||||||||||||||||||||||||||||||||
(in millions) | (in millions) | |||||||||||||||||||||||||||||||||||||||
Current Risk Management Assets | Current Risk Management Assets | $ | 3.4 | $ | (0.2) | $ | 3.2 | Current Risk Management Assets | $ | 3.4 | $ | (0.2) | $ | 3.2 | ||||||||||||||||||||||||||
Long-term Risk Management Assets | Long-term Risk Management Assets | 0 | 0 | 0 | Long-term Risk Management Assets | — | — | — | ||||||||||||||||||||||||||||||||
Total Assets | Total Assets | 3.4 | (0.2) | 3.2 | Total Assets | 3.4 | (0.2) | 3.2 | ||||||||||||||||||||||||||||||||
Current Risk Management Liabilities | Current Risk Management Liabilities | 0.7 | 0 | 0.7 | Current Risk Management Liabilities | 0.7 | — | 0.7 | ||||||||||||||||||||||||||||||||
Long-term Risk Management Liabilities | Long-term Risk Management Liabilities | 1.0 | 0 | 1.0 | Long-term Risk Management Liabilities | 1.0 | — | 1.0 | ||||||||||||||||||||||||||||||||
Total Liabilities | Total Liabilities | 1.7 | 0 | 1.7 | Total Liabilities | 1.7 | — | 1.7 | ||||||||||||||||||||||||||||||||
Total MTM Derivative Contract Net Assets (Liabilities) | Total MTM Derivative Contract Net Assets (Liabilities) | $ | 1.7 | $ | (0.2) | $ | 1.5 | Total MTM Derivative Contract Net Assets (Liabilities) | $ | 1.7 | $ | (0.2) | $ | 1.5 |
Three Months Ended March 31, 2021 | Three Months Ended September 30, 2021 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Location of Gain (Loss) | Location of Gain (Loss) | AEP | AEP Texas | APCo | I&M | OPCo | PSO | SWEPCo | Location of Gain (Loss) | AEP | AEP Texas | APCo | I&M | OPCo | PSO | SWEPCo | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(in millions) | (in millions) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Vertically Integrated Utilities Revenues | Vertically Integrated Utilities Revenues | $ | 0.2 | $ | 0 | $ | 0 | $ | 0 | $ | 0 | $ | 0 | $ | 0 | Vertically Integrated Utilities Revenues | $ | (0.9) | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Generation & Marketing Revenues | Generation & Marketing Revenues | (0.4) | 0 | 0 | 0 | 0 | 0 | 0 | Generation & Marketing Revenues | 128.8 | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Electric Generation, Transmission and Distribution Revenues | Electric Generation, Transmission and Distribution Revenues | 0 | 0 | 0.2 | 0 | 0 | 0 | 0 | Electric Generation, Transmission and Distribution Revenues | — | — | (0.9) | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Purchased Electricity for Resale | Purchased Electricity for Resale | 0.4 | 0 | 0.4 | 0 | 0 | 0 | 0 | Purchased Electricity for Resale | 0.2 | — | 0.1 | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Operation | Other Operation | 0.3 | 0.1 | 0 | 0 | 0.1 | 0 | 0 | Other Operation | 0.9 | 0.3 | 0.1 | 0.1 | 0.1 | 0.1 | 0.2 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maintenance | Maintenance | 0.5 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | Maintenance | 1.1 | 0.2 | 0.2 | 0.1 | 0.2 | 0.1 | 0.1 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Regulatory Assets (a) | Regulatory Assets (a) | 6.4 | 0 | 0 | (0.9) | 6.6 | 0 | 0.8 | Regulatory Assets (a) | (7.2) | — | (2.9) | (16.9) | 14.9 | — | 0.1 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Regulatory Liabilities (a) | Regulatory Liabilities (a) | 22.0 | 0.4 | 3.4 | (3.2) | 2.9 | 11.2 | 6.2 | Regulatory Liabilities (a) | 46.5 | (0.1) | 14.2 | 1.7 | 0.8 | 14.0 | 12.7 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Gain (Loss) on Risk Management Contracts | Total Gain (Loss) on Risk Management Contracts | $ | 29.4 | $ | 0.6 | $ | 4.1 | $ | (4.0) | $ | 9.7 | $ | 11.3 | $ | 7.1 | Total Gain (Loss) on Risk Management Contracts | $ | 169.4 | $ | 0.4 | $ | 10.8 | $ | (15.0) | $ | 16.0 | $ | 14.2 | $ | 13.1 |
Three Months Ended March 31, 2020 | Three Months Ended September 30, 2020 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Location of Gain (Loss) | Location of Gain (Loss) | AEP | AEP Texas | APCo | I&M | OPCo | PSO | SWEPCo | Location of Gain (Loss) | AEP | AEP Texas | APCo | I&M | OPCo | PSO | SWEPCo | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(in millions) | (in millions) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Vertically Integrated Utilities Revenues | Vertically Integrated Utilities Revenues | $ | 0.4 | $ | 0 | $ | 0 | $ | 0 | $ | 0 | $ | 0 | $ | 0 | Vertically Integrated Utilities Revenues | $ | 0.5 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Generation & Marketing Revenues | Generation & Marketing Revenues | (10.3) | 0 | 0 | 0 | 0 | 0 | 0 | Generation & Marketing Revenues | 11.5 | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Electric Generation, Transmission and Distribution Revenues | Electric Generation, Transmission and Distribution Revenues | 0 | 0 | 0.2 | 0.1 | 0 | 0 | 0 | Electric Generation, Transmission and Distribution Revenues | — | — | 0.3 | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Purchased Electricity for Resale | Purchased Electricity for Resale | 0.1 | 0 | 0.1 | 0 | 0 | 0 | 0 | Purchased Electricity for Resale | 0.3 | — | 0.2 | 0.1 | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Operation | Other Operation | (0.2) | (0.1) | 0 | 0 | (0.1) | 0 | 0 | Other Operation | (0.4) | (0.1) | (0.1) | (0.1) | (0.1) | (0.1) | (0.1) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maintenance | Maintenance | (0.2) | (0.1) | (0.1) | 0 | 0 | 0 | 0 | Maintenance | (0.8) | (0.2) | (0.1) | (0.1) | (0.2) | — | (0.1) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Regulatory Assets (a) | Regulatory Assets (a) | (33.9) | (1.2) | (8.9) | (0.7) | (18.4) | (0.5) | (0.2) | Regulatory Assets (a) | 7.9 | 0.2 | 0.4 | 0.2 | 4.4 | (0.4) | 2.9 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Regulatory Liabilities (a) | Regulatory Liabilities (a) | 11.2 | 0 | (7.3) | 3.2 | 3.5 | 8.1 | 3.3 | Regulatory Liabilities (a) | 17.0 | — | 3.8 | 2.6 | 1.7 | 3.1 | 2.0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Gain (Loss) on Risk Management Contracts | Total Gain (Loss) on Risk Management Contracts | $ | (32.9) | $ | (1.4) | $ | (16.0) | $ | 2.6 | $ | (15.0) | $ | 7.6 | $ | 3.1 | Total Gain (Loss) on Risk Management Contracts | $ | 36.0 | $ | (0.1) | $ | 4.5 | $ | 2.7 | $ | 5.8 | $ | 2.6 | $ | 4.7 |
Nine Months Ended September 30, 2021 | ||||||||||||||||||||||||||||||||||||||||||||
Location of Gain (Loss) | AEP | AEP Texas | APCo | I&M | OPCo | PSO | SWEPCo | |||||||||||||||||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||||||||||||||||||||||
Vertically Integrated Utilities Revenues | $ | (0.6) | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||||||||||||||
Generation & Marketing Revenues | 144.9 | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||
Electric Generation, Transmission and Distribution Revenues | — | — | (0.6) | — | — | — | — | |||||||||||||||||||||||||||||||||||||
Purchased Electricity for Resale | 1.2 | — | 1.0 | 0.1 | — | — | — | |||||||||||||||||||||||||||||||||||||
Other Operation | 1.9 | 0.6 | 0.2 | 0.2 | 0.3 | 0.2 | 0.3 | |||||||||||||||||||||||||||||||||||||
Maintenance | 2.4 | 0.6 | 0.4 | 0.2 | 0.4 | 0.2 | 0.3 | |||||||||||||||||||||||||||||||||||||
Regulatory Assets (a) | (7.8) | — | (2.9) | (22.9) | 20.3 | — | 1.4 | |||||||||||||||||||||||||||||||||||||
Regulatory Liabilities (a) | 123.6 | 0.5 | 28.9 | 1.9 | 5.9 | 40.2 | 38.5 | |||||||||||||||||||||||||||||||||||||
Total Gain (Loss) on Risk Management Contracts | $ | 265.6 | $ | 1.7 | $ | 27.0 | $ | (20.5) | $ | 26.9 | $ | 40.6 | $ | 40.5 |
Nine Months Ended September 30, 2020 | ||||||||||||||||||||||||||||||||||||||||||||
Location of Gain (Loss) | AEP | AEP Texas | APCo | I&M | OPCo | PSO | SWEPCo | |||||||||||||||||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||||||||||||||||||||||
Vertically Integrated Utilities Revenues | $ | 0.8 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||||||||||||||
Generation & Marketing Revenues | 11.1 | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||
Electric Generation, Transmission and Distribution Revenues | — | — | 0.4 | 0.1 | — | — | 0.1 | |||||||||||||||||||||||||||||||||||||
Purchased Electricity for Resale | 1.2 | — | 1.0 | 0.1 | — | — | — | |||||||||||||||||||||||||||||||||||||
Other Operation | (1.4) | (0.4) | (0.2) | (0.2) | (0.3) | (0.2) | (0.2) | |||||||||||||||||||||||||||||||||||||
Maintenance | (2.2) | (0.6) | (0.3) | (0.2) | (0.4) | (0.2) | (0.3) | |||||||||||||||||||||||||||||||||||||
Regulatory Assets (a) | (8.5) | (0.3) | (0.1) | (0.2) | (9.9) | (0.6) | 2.2 | |||||||||||||||||||||||||||||||||||||
Regulatory Liabilities (a) | 80.9 | — | 16.2 | 8.8 | 8.4 | 23.9 | 14.8 | |||||||||||||||||||||||||||||||||||||
Total Gain (Loss) on Risk Management Contracts | $ | 81.9 | $ | (1.3) | $ | 17.0 | $ | 8.4 | $ | (2.2) | $ | 22.9 | $ | 16.6 |
Carrying Amount of the Hedged Liabilities | Cumulative Amount of Fair Value Hedging Adjustment Included in the Carrying Amount of the Hedged Liabilities | |||||||||||||||||||||||||
March 31, 2021 | December 31, 2020 | March 31, 2021 | December 31, 2020 | |||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||||
Long-term Debt (a) (b) | $ | (959.4) | $ | (995.9) | $ | (16.6) | $ | (51.7) |
Carrying Amount of the Hedged Liabilities | Cumulative Amount of Fair Value Hedging Adjustment Included in the Carrying Amount of the Hedged Liabilities | |||||||||||||||||||||||||
September 30, 2021 | December 31, 2020 | September 30, 2021 | December 31, 2020 | |||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||||
Long-term Debt (a) (b) | $ | (965.6) | $ | (995.9) | $ | (22.1) | $ | (51.7) |
Three Months Ended March 31, | |||||||||||||||||||||||
2021 | 2020 | ||||||||||||||||||||||
(in millions) | |||||||||||||||||||||||
Gain (Loss) on Interest Rate Contracts: | |||||||||||||||||||||||
Fair Value Hedging Instruments (a) | $ | (33.2) | $ | 42.5 | |||||||||||||||||||
Fair Value Portion of Long-term Debt (a) | 33.2 | (42.5) |
Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | ||||||||||||||||||||
(in millions) | |||||||||||||||||||||||
Gain (Loss) on Interest Rate Contracts: | |||||||||||||||||||||||
Fair Value Hedging Instruments (a) | $ | (0.1) | $ | — | $ | (23.8) | $ | 42.6 | |||||||||||||||
Fair Value Portion of Long-term Debt (a) | 0.1 | — | 23.8 | (42.6) |
March 31, 2021 | December 31, 2020 | September 30, 2021 | December 31, 2020 | |||||||||||||||||||||||||||||||||||||||||||||||||
Commodity | Interest Rate | Commodity | Interest Rate | Commodity | Interest Rate | Commodity | Interest Rate | |||||||||||||||||||||||||||||||||||||||||||||
(in millions) | (in millions) | |||||||||||||||||||||||||||||||||||||||||||||||||||
AOCI Loss Net of Tax | $ | (18.5) | $ | (33.3) | $ | (60.6) | $ | (47.5) | ||||||||||||||||||||||||||||||||||||||||||||
AOCI Gain (Loss) Net of Tax | AOCI Gain (Loss) Net of Tax | $ | 283.9 | $ | (26.1) | $ | (60.6) | $ | (47.5) | |||||||||||||||||||||||||||||||||||||||||||
Portion Expected to be Reclassed to Net Income During the Next Twelve Months | Portion Expected to be Reclassed to Net Income During the Next Twelve Months | (0.3) | (5.1) | (27.1) | (5.7) | Portion Expected to be Reclassed to Net Income During the Next Twelve Months | 56.5 | (2.6) | (27.1) | (5.7) |
March 31, 2021 | December 31, 2020 | September 30, 2021 | December 31, 2020 | |||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | Interest Rate | |||||||||||||||||||||||||||||||||||||||||||||||||||
Expected to be | Expected to be | Expected to be | Expected to be | |||||||||||||||||||||||||||||||||||||||||||||||||
Reclassified to | Reclassified to | Reclassified to | Reclassified to | |||||||||||||||||||||||||||||||||||||||||||||||||
Net Income During | Net Income During | Net Income During | Net Income During | |||||||||||||||||||||||||||||||||||||||||||||||||
AOCI Gain (Loss) | the Next | AOCI Gain (Loss) | the Next | AOCI Gain (Loss) | the Next | AOCI Gain (Loss) | the Next | |||||||||||||||||||||||||||||||||||||||||||||
Company | Company | Net of Tax | Twelve Months | Net of Tax | Twelve Months | Company | Net of Tax | Twelve Months | Net of Tax | Twelve Months | ||||||||||||||||||||||||||||||||||||||||||
(in millions) | (in millions) | |||||||||||||||||||||||||||||||||||||||||||||||||||
AEP Texas | AEP Texas | $ | (2.0) | $ | (1.1) | $ | (2.3) | $ | (1.1) | AEP Texas | $ | (1.5) | $ | (1.1) | $ | (2.3) | $ | (1.1) | ||||||||||||||||||||||||||||||||||
APCo | APCo | 8.2 | 0.8 | (0.8) | 0.4 | APCo | 7.7 | 0.8 | (0.8) | 0.4 | ||||||||||||||||||||||||||||||||||||||||||
I&M | I&M | (7.8) | (1.6) | (8.3) | (1.6) | I&M | (7.0) | (1.6) | (8.3) | (1.6) | ||||||||||||||||||||||||||||||||||||||||||
PSO | PSO | 0 | 0 | 0.1 | 0.1 | PSO | — | — | 0.1 | 0.1 | ||||||||||||||||||||||||||||||||||||||||||
SWEPCo | SWEPCo | 0.1 | (1.2) | (0.3) | (1.5) | SWEPCo | 0.8 | (0.4) | (0.3) | (1.5) |
March 31, 2021 | September 30, 2021 | |||||||||||||||||||||||||||||||||||||||
Liabilities for | Additional | Liabilities for | Additional | |||||||||||||||||||||||||||||||||||||
Contracts with Cross | Settlement | Contracts with Cross | Settlement | |||||||||||||||||||||||||||||||||||||
Default Provisions | Liability if Cross | Default Provisions | Liability if Cross | |||||||||||||||||||||||||||||||||||||
Prior to Contractual | Amount of Cash | Default Provision | Prior to Contractual | Amount of Cash | Default Provision | |||||||||||||||||||||||||||||||||||
Company | Company | Netting Arrangements | Collateral Posted | is Triggered | Company | Netting Arrangements | Collateral Posted | is Triggered | ||||||||||||||||||||||||||||||||
(in millions) | (in millions) | |||||||||||||||||||||||||||||||||||||||
AEP | AEP | $ | 156.8 | $ | 0 | $ | 127.7 | AEP | $ | 128.2 | $ | — | $ | 95.8 | ||||||||||||||||||||||||||
APCo | APCo | 0.6 | 0 | 0.1 | APCo | 1.0 | — | — | ||||||||||||||||||||||||||||||||
I&M | I&M | 0.4 | 0 | 0.1 | I&M | 0.6 | — | — | ||||||||||||||||||||||||||||||||
SWEPCo | SWEPCo | 0.9 | 0 | 0.9 | SWEPCo | — | — | — |
December 31, 2020 | ||||||||||||||||||||
Liabilities for | Additional | |||||||||||||||||||
Contracts with Cross | Settlement | |||||||||||||||||||
Default Provisions | Liability if Cross | |||||||||||||||||||
Prior to Contractual | Amount of Cash | Default Provision | ||||||||||||||||||
Company | Netting Arrangements | Collateral Posted | is Triggered | |||||||||||||||||
(in millions) | ||||||||||||||||||||
AEP | $ | 188.4 | $ | — | $ | 169.2 | ||||||||||||||
APCo | 4.3 | — | 3.5 | |||||||||||||||||
I&M | 0.5 | — | 0.1 | |||||||||||||||||
SWEPCo | 1.8 | — | 1.8 |
December 31, 2020 | ||||||||||||||||||||
Liabilities for | Additional | |||||||||||||||||||
Contracts with Cross | Settlement | |||||||||||||||||||
Default Provisions | Liability if Cross | |||||||||||||||||||
Prior to Contractual | Amount of Cash | Default Provision | ||||||||||||||||||
Company | Netting Arrangements | Collateral Posted | is Triggered | |||||||||||||||||
(in millions) | ||||||||||||||||||||
AEP | $ | 188.4 | $ | 0 | $ | 169.2 | ||||||||||||||
APCo | 4.3 | 0 | 3.5 | |||||||||||||||||
I&M | 0.5 | 0 | 0.1 | |||||||||||||||||
SWEPCo | 1.8 | 0 | 1.8 |
March 31, 2021 | December 31, 2020 | September 30, 2021 | December 31, 2020 | |||||||||||||||||||||||||||||||||||||||||||||||||
Company | Company | Book Value | Fair Value | Book Value | Fair Value | Company | Book Value | Fair Value | Book Value | Fair Value | ||||||||||||||||||||||||||||||||||||||||||
(in millions) | (in millions) | |||||||||||||||||||||||||||||||||||||||||||||||||||
AEP (a) | AEP (a) | $ | 32,345.0 | $ | 35,802.4 | $ | 31,072.5 | $ | 37,457.0 | AEP (a) | $ | 34,578.3 | $ | 38,925.1 | $ | 31,072.5 | $ | 37,457.0 | ||||||||||||||||||||||||||||||||||
AEP Texas | AEP Texas | 4,810.2 | 5,235.6 | 4,820.4 | 5,682.6 | AEP Texas | 5,216.1 | 5,763.9 | 4,820.4 | 5,682.6 | ||||||||||||||||||||||||||||||||||||||||||
AEPTCo | AEPTCo | 3,949.0 | 4,460.1 | 3,948.5 | 4,984.3 | AEPTCo | 4,393.4 | 5,074.5 | 3,948.5 | 4,984.3 | ||||||||||||||||||||||||||||||||||||||||||
APCo | APCo | 4,966.2 | 5,871.1 | 4,834.1 | 6,391.8 | APCo | 4,937.8 | 6,067.0 | 4,834.1 | 6,391.8 | ||||||||||||||||||||||||||||||||||||||||||
I&M | I&M | 3,006.3 | 3,422.9 | 3,029.9 | 3,775.3 | I&M | 3,231.1 | 3,790.5 | 3,029.9 | 3,775.3 | ||||||||||||||||||||||||||||||||||||||||||
OPCo | OPCo | 2,876.3 | 3,316.1 | 2,430.2 | 3,154.9 | OPCo | 3,468.1 | 3,948.6 | 2,430.2 | 3,154.9 | ||||||||||||||||||||||||||||||||||||||||||
PSO | PSO | 1,623.8 | 1,842.4 | 1,373.8 | 1,732.1 | PSO | 1,913.3 | 2,169.2 | 1,373.8 | 1,732.1 | ||||||||||||||||||||||||||||||||||||||||||
SWEPCo | SWEPCo | 3,131.4 | 3,444.8 | 2,636.4 | 3,210.1 | SWEPCo | 3,129.9 | 3,534.0 | 2,636.4 | 3,210.1 |
March 31, 2021 | September 30, 2021 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Gross | Gross | Gross | Gross | |||||||||||||||||||||||||||||||||||||||||||||||||
Unrealized | Unrealized | Fair | Unrealized | Unrealized | Fair | |||||||||||||||||||||||||||||||||||||||||||||||
Other Temporary Investments | Other Temporary Investments | Cost | Gains | Losses | Value | Other Temporary Investments | Cost | Gains | Losses | Value | ||||||||||||||||||||||||||||||||||||||||||
(in millions) | (in millions) | |||||||||||||||||||||||||||||||||||||||||||||||||||
Restricted Cash and Other Cash Deposits (a) | Restricted Cash and Other Cash Deposits (a) | $ | 74.6 | $ | 0 | $ | 0 | $ | 74.6 | Restricted Cash and Other Cash Deposits (a) | $ | 77.3 | $ | — | $ | — | $ | 77.3 | ||||||||||||||||||||||||||||||||||
Fixed Income Securities – Mutual Funds (b) | Fixed Income Securities – Mutual Funds (b) | 116.7 | 2.0 | 0 | 118.7 | Fixed Income Securities – Mutual Funds (b) | 141.8 | 1.8 | — | 143.6 | ||||||||||||||||||||||||||||||||||||||||||
Equity Securities – Mutual Funds | Equity Securities – Mutual Funds | 24.9 | 31.7 | 0 | 56.6 | Equity Securities – Mutual Funds | 19.4 | 32.1 | — | 51.5 | ||||||||||||||||||||||||||||||||||||||||||
Total Other Temporary Investments | Total Other Temporary Investments | $ | 216.2 | $ | 33.7 | $ | 0 | $ | 249.9 | Total Other Temporary Investments | $ | 238.5 | $ | 33.9 | $ | — | $ | 272.4 |
December 31, 2020 | December 31, 2020 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Gross | Gross | Gross | Gross | |||||||||||||||||||||||||||||||||||||||||||||||||
Unrealized | Unrealized | Fair | Unrealized | Unrealized | Fair | |||||||||||||||||||||||||||||||||||||||||||||||
Other Temporary Investments | Other Temporary Investments | Cost | Gains | Losses | Value | Other Temporary Investments | Cost | Gains | Losses | Value | ||||||||||||||||||||||||||||||||||||||||||
(in millions) | (in millions) | |||||||||||||||||||||||||||||||||||||||||||||||||||
Restricted Cash and Other Cash Deposits (a) | Restricted Cash and Other Cash Deposits (a) | $ | 68.3 | $ | 0 | $ | 0 | $ | 68.3 | Restricted Cash and Other Cash Deposits (a) | $ | 68.3 | $ | — | $ | — | $ | 68.3 | ||||||||||||||||||||||||||||||||||
Fixed Income Securities – Mutual Funds (b) | Fixed Income Securities – Mutual Funds (b) | 120.7 | 2.8 | 0 | 123.5 | Fixed Income Securities – Mutual Funds (b) | 120.7 | 2.8 | — | 123.5 | ||||||||||||||||||||||||||||||||||||||||||
Equity Securities – Mutual Funds | Equity Securities – Mutual Funds | 25.9 | 28.7 | 0 | 54.6 | Equity Securities – Mutual Funds | 25.9 | 28.7 | — | 54.6 | ||||||||||||||||||||||||||||||||||||||||||
Total Other Temporary Investments | Total Other Temporary Investments | $ | 214.9 | $ | 31.5 | $ | 0 | $ | 246.4 | Total Other Temporary Investments | $ | 214.9 | $ | 31.5 | $ | — | $ | 246.4 |
Three Months Ended March 31, | Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||||||||||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | 2021 | 2020 | |||||||||||||||||||||||||||||||||||||||||
(in millions) | (in millions) | |||||||||||||||||||||||||||||||||||||||||||||
Proceeds from Investment Sales | Proceeds from Investment Sales | $ | 5.5 | $ | 23.2 | Proceeds from Investment Sales | $ | 6.0 | $ | 5.1 | $ | 15.1 | $ | 35.9 | ||||||||||||||||||||||||||||||||
Purchases of Investments | Purchases of Investments | 0.7 | 6.7 | Purchases of Investments | 12.9 | 22.5 | 26.0 | 39.5 | ||||||||||||||||||||||||||||||||||||||
Gross Realized Gains on Investment Sales | Gross Realized Gains on Investment Sales | 0.1 | 2.0 | Gross Realized Gains on Investment Sales | 2.4 | 0.2 | 3.6 | 2.4 | ||||||||||||||||||||||||||||||||||||||
Gross Realized Losses on Investment Sales | Gross Realized Losses on Investment Sales | 0 | 0.1 | Gross Realized Losses on Investment Sales | — | — | — | 0.2 |
March 31, 2021 | December 31, 2020 | September 30, 2021 | December 31, 2020 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Gross | Other-Than- | Gross | Other-Than- | Gross | Other-Than- | Gross | Other-Than- | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair | Unrealized | Temporary | Fair | Unrealized | Temporary | Fair | Unrealized | Temporary | Fair | Unrealized | Temporary | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Value | Gains | Impairments | Value | Gains | Impairments | Value | Gains | Impairments | Value | Gains | Impairments | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(in millions) | (in millions) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cash and Cash Equivalents | Cash and Cash Equivalents | $ | 47.7 | $ | 0 | $ | 0 | $ | 25.8 | $ | 0 | $ | 0 | Cash and Cash Equivalents | $ | 63.9 | $ | — | $ | — | $ | 25.8 | $ | — | $ | — | ||||||||||||||||||||||||||||||||||||||||||||
Fixed Income Securities: | Fixed Income Securities: | Fixed Income Securities: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
United States Government | United States Government | 998.9 | 54.8 | (13.0) | 1,025.6 | 98.5 | (7.1) | United States Government | 1,135.3 | 66.9 | (6.8) | 1,025.6 | 98.5 | (7.1) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Corporate Debt | Corporate Debt | 76.4 | 4.8 | (2.6) | 86.3 | 9.6 | (1.7) | Corporate Debt | 86.6 | 6.9 | (2.0) | 86.3 | 9.6 | (1.7) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
State and Local Government | State and Local Government | 83.8 | 0.4 | (0.7) | 114.3 | 0.9 | (0.4) | State and Local Government | 36.8 | 0.3 | (0.2) | 114.3 | 0.9 | (0.4) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subtotal Fixed Income Securities | Subtotal Fixed Income Securities | 1,159.1 | 60.0 | (16.3) | 1,226.2 | 109.0 | (9.2) | Subtotal Fixed Income Securities | 1,258.7 | 74.1 | (9.0) | 1,226.2 | 109.0 | (9.2) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Equity Securities - Domestic (a) | Equity Securities - Domestic (a) | 2,207.5 | 1,543.5 | 0 | 2,054.7 | 1,400.8 | 0 | Equity Securities - Domestic (a) | 2,287.2 | 1,652.8 | — | 2,054.7 | 1,400.8 | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Spent Nuclear Fuel and Decommissioning Trusts | Spent Nuclear Fuel and Decommissioning Trusts | $ | 3,414.3 | $ | 1,603.5 | $ | (16.3) | $ | 3,306.7 | $ | 1,509.8 | $ | (9.2) | Spent Nuclear Fuel and Decommissioning Trusts | $ | 3,609.8 | $ | 1,726.9 | $ | (9.0) | $ | 3,306.7 | $ | 1,509.8 | $ | (9.2) |
Three Months Ended March 31, | Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||||||||||||||||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | 2021 | 2020 | |||||||||||||||||||||||||||||||||||||||||||||||
(in millions) | (in millions) | |||||||||||||||||||||||||||||||||||||||||||||||||||
Proceeds from Investment Sales | Proceeds from Investment Sales | $ | 320.0 | $ | 612.4 | Proceeds from Investment Sales | $ | 433.9 | $ | 316.6 | $ | 1,556.6 | $ | 1,257.1 | ||||||||||||||||||||||||||||||||||||||
Purchases of Investments | Purchases of Investments | 336.9 | 626.0 | Purchases of Investments | 436.6 | 318.6 | 1,586.3 | 1,290.0 | ||||||||||||||||||||||||||||||||||||||||||||
Gross Realized Gains on Investment Sales | Gross Realized Gains on Investment Sales | 5.4 | 10.9 | Gross Realized Gains on Investment Sales | 9.6 | 3.4 | 98.3 | 25.4 | ||||||||||||||||||||||||||||||||||||||||||||
Gross Realized Losses on Investment Sales | Gross Realized Losses on Investment Sales | 4.2 | 17.0 | Gross Realized Losses on Investment Sales | 7.0 | 0.5 | 12.5 | 25.2 |
Fair Value of Fixed | |||||
Income Securities | |||||
(in millions) | |||||
Within 1 year | $ | ||||
After 1 year through 5 years | |||||
After 5 years through 10 years | |||||
After 10 years | |||||
Total | $ |
Level 1 | Level 2 | Level 3 | Other | Total | Level 1 | Level 2 | Level 3 | Other | Total | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Assets: | Assets: | (in millions) | Assets: | (in millions) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Temporary Investments | Other Temporary Investments | Other Temporary Investments | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Restricted Cash and Other Cash Deposits (a) | Restricted Cash and Other Cash Deposits (a) | $ | 62.9 | $ | 0 | $ | 0 | $ | 11.7 | $ | 74.6 | Restricted Cash and Other Cash Deposits (a) | $ | 66.1 | $ | — | $ | — | $ | 11.2 | $ | 77.3 | ||||||||||||||||||||||||||||||||||||||||||
Fixed Income Securities – Mutual Funds | Fixed Income Securities – Mutual Funds | 118.7 | 0 | 0 | 0 | 118.7 | Fixed Income Securities – Mutual Funds | 143.6 | — | — | — | 143.6 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Equity Securities – Mutual Funds (b) | Equity Securities – Mutual Funds (b) | 56.6 | 0 | 0 | 0 | 56.6 | Equity Securities – Mutual Funds (b) | 51.5 | — | — | — | 51.5 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Other Temporary Investments | Total Other Temporary Investments | 238.2 | 0 | 0 | 11.7 | 249.9 | Total Other Temporary Investments | 261.2 | — | — | 11.2 | 272.4 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Risk Management Assets | Risk Management Assets | Risk Management Assets | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Risk Management Commodity Contracts (c) (d) | Risk Management Commodity Contracts (c) (d) | 1.2 | 217.9 | 194.8 | (94.8) | 319.1 | Risk Management Commodity Contracts (c) (d) | 16.9 | 1,090.7 | 221.9 | (1,054.0) | 275.5 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Cash Flow Hedges: | Cash Flow Hedges: | Cash Flow Hedges: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commodity Hedges (c) | Commodity Hedges (c) | 0 | 44.4 | 2.7 | (32.0) | 15.1 | Commodity Hedges (c) | — | 367.3 | 31.3 | (34.9) | 363.7 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate Hedges | Interest Rate Hedges | — | 4.9 | — | — | 4.9 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value Hedges | Fair Value Hedges | 0 | 2.7 | 0 | 0 | 2.7 | Fair Value Hedges | — | 3.4 | — | — | 3.4 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Risk Management Assets | Total Risk Management Assets | 1.2 | 265.0 | 197.5 | (126.8) | 336.9 | Total Risk Management Assets | 16.9 | 1,466.3 | 253.2 | (1,088.9) | 647.5 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Spent Nuclear Fuel and Decommissioning Trusts | Spent Nuclear Fuel and Decommissioning Trusts | Spent Nuclear Fuel and Decommissioning Trusts | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cash and Cash Equivalents (e) | Cash and Cash Equivalents (e) | 39.5 | 0 | 0 | 8.2 | 47.7 | Cash and Cash Equivalents (e) | 56.0 | — | — | 7.9 | 63.9 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Fixed Income Securities: | Fixed Income Securities: | Fixed Income Securities: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
United States Government | United States Government | 0 | 998.9 | 0 | 0 | 998.9 | United States Government | — | 1,135.3 | — | — | 1,135.3 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Corporate Debt | Corporate Debt | 0 | 76.4 | 0 | 0 | 76.4 | Corporate Debt | — | 86.6 | — | — | 86.6 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
State and Local Government | State and Local Government | 0 | 83.8 | 0 | 0 | 83.8 | State and Local Government | — | 36.8 | — | — | 36.8 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Subtotal Fixed Income Securities | Subtotal Fixed Income Securities | 0 | 1,159.1 | 0 | 0 | 1,159.1 | Subtotal Fixed Income Securities | — | 1,258.7 | — | — | 1,258.7 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Equity Securities – Domestic (b) | Equity Securities – Domestic (b) | 2,207.5 | 0 | 0 | 0 | 2,207.5 | Equity Securities – Domestic (b) | 2,287.2 | — | — | — | 2,287.2 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Spent Nuclear Fuel and Decommissioning Trusts | Total Spent Nuclear Fuel and Decommissioning Trusts | 2,247.0 | 1,159.1 | 0 | 8.2 | 3,414.3 | Total Spent Nuclear Fuel and Decommissioning Trusts | 2,343.2 | 1,258.7 | — | 7.9 | 3,609.8 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Investments (h) | Other Investments (h) | 0 | 56.7 | 0 | 0 | 56.7 | Other Investments (h) | 30.3 | 15.9 | — | — | 46.2 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Assets | Total Assets | $ | 2,486.4 | $ | 1,480.8 | $ | 197.5 | $ | (106.9) | $ | 4,057.8 | Total Assets | $ | 2,651.6 | $ | 2,740.9 | $ | 253.2 | $ | (1,069.8) | $ | 4,575.9 | ||||||||||||||||||||||||||||||||||||||||||
Liabilities: | Liabilities: | Liabilities: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Risk Management Liabilities | Risk Management Liabilities | Risk Management Liabilities | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Risk Management Commodity Contracts (c) (d) | Risk Management Commodity Contracts (c) (d) | $ | 0.8 | $ | 182.7 | $ | 152.8 | $ | (99.5) | $ | 236.8 | Risk Management Commodity Contracts (c) (d) | $ | 8.4 | $ | 923.3 | $ | 124.1 | $ | (782.6) | $ | 273.2 | ||||||||||||||||||||||||||||||||||||||||||
Cash Flow Hedges: | Cash Flow Hedges: | Cash Flow Hedges: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commodity Hedges (c) | Commodity Hedges (c) | 0 | 67.0 | 2.9 | (32.0) | 37.9 | Commodity Hedges (c) | — | 38.9 | 0.1 | (34.9) | 4.1 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value Hedges | Fair Value Hedges | 0 | 37.4 | 0 | 0 | 37.4 | Fair Value Hedges | — | 28.8 | — | — | 28.8 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Risk Management Liabilities | Total Risk Management Liabilities | $ | 0.8 | $ | 287.1 | $ | 155.7 | $ | (131.5) | $ | 312.1 | Total Risk Management Liabilities | $ | 8.4 | $ | 991.0 | $ | 124.2 | $ | (817.5) | $ | 306.1 |
Level 1 | Level 2 | Level 3 | Other | Total | Level 1 | Level 2 | Level 3 | Other | Total | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Assets: | Assets: | (in millions) | Assets: | (in millions) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Temporary Investments | Other Temporary Investments | Other Temporary Investments | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Restricted Cash and Other Cash Deposits (a) | Restricted Cash and Other Cash Deposits (a) | $ | 57.8 | $ | 0 | $ | 0 | $ | 10.5 | $ | 68.3 | Restricted Cash and Other Cash Deposits (a) | $ | 57.8 | $ | — | $ | — | $ | 10.5 | $ | 68.3 | ||||||||||||||||||||||||||||||||||||||||||
Fixed Income Securities – Mutual Funds | Fixed Income Securities – Mutual Funds | 123.5 | 0 | 0 | 0 | 123.5 | Fixed Income Securities – Mutual Funds | 123.5 | — | — | — | 123.5 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Equity Securities – Mutual Funds (b) | Equity Securities – Mutual Funds (b) | 54.6 | 0 | 0 | 0 | 54.6 | Equity Securities – Mutual Funds (b) | 54.6 | — | — | — | 54.6 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Other Temporary Investments | Total Other Temporary Investments | 235.9 | 0 | 0 | 10.5 | 246.4 | Total Other Temporary Investments | 235.9 | — | — | 10.5 | 246.4 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Risk Management Assets | Risk Management Assets | Risk Management Assets | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Risk Management Commodity Contracts (c) (f) | Risk Management Commodity Contracts (c) (f) | 0.9 | 258.8 | 252.4 | (190.0) | 322.1 | Risk Management Commodity Contracts (c) (f) | 0.9 | 258.8 | 252.4 | (190.0) | 322.1 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Cash Flow Hedges: | Cash Flow Hedges: | Cash Flow Hedges: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commodity Hedges (c) | Commodity Hedges (c) | 0 | 34.4 | 3.9 | (28.5) | 9.8 | Commodity Hedges (c) | — | 34.4 | 3.9 | (28.5) | 9.8 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate Hedges | Interest Rate Hedges | 0 | 2.4 | 0 | 0 | 2.4 | Interest Rate Hedges | — | 2.4 | — | — | 2.4 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value Hedges | Fair Value Hedges | 0 | 2.6 | 0 | 0 | 2.6 | Fair Value Hedges | — | 2.6 | — | — | 2.6 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Risk Management Assets | Total Risk Management Assets | 0.9 | 298.2 | 256.3 | (218.5) | 336.9 | Total Risk Management Assets | 0.9 | 298.2 | 256.3 | (218.5) | 336.9 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Spent Nuclear Fuel and Decommissioning Trusts | Spent Nuclear Fuel and Decommissioning Trusts | Spent Nuclear Fuel and Decommissioning Trusts | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cash and Cash Equivalents (e) | Cash and Cash Equivalents (e) | 16.8 | 0 | 0 | 9.0 | 25.8 | Cash and Cash Equivalents (e) | 16.8 | — | — | 9.0 | 25.8 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Fixed Income Securities: | Fixed Income Securities: | Fixed Income Securities: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
United States Government | United States Government | 0 | 1,025.6 | 0 | 0 | 1,025.6 | United States Government | — | 1,025.6 | — | — | 1,025.6 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Corporate Debt | Corporate Debt | 0 | 86.3 | 0 | 0 | 86.3 | Corporate Debt | — | 86.3 | — | — | 86.3 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
State and Local Government | State and Local Government | 0 | 114.3 | 0 | 0 | 114.3 | State and Local Government | — | 114.3 | — | — | 114.3 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Subtotal Fixed Income Securities | Subtotal Fixed Income Securities | 0 | 1,226.2 | 0 | 0 | 1,226.2 | Subtotal Fixed Income Securities | — | 1,226.2 | — | — | 1,226.2 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Equity Securities – Domestic (b) | Equity Securities – Domestic (b) | 2,054.7 | 0 | 0 | 0 | 2,054.7 | Equity Securities – Domestic (b) | 2,054.7 | — | — | — | 2,054.7 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Spent Nuclear Fuel and Decommissioning Trusts | Total Spent Nuclear Fuel and Decommissioning Trusts | 2,071.5 | 1,226.2 | 0 | 9.0 | 3,306.7 | Total Spent Nuclear Fuel and Decommissioning Trusts | 2,071.5 | 1,226.2 | — | 9.0 | 3,306.7 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Investments (h) | Other Investments (h) | 0 | 0 | 31.8 | 0 | 31.8 | Other Investments (h) | — | — | 31.8 | — | 31.8 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Assets | Total Assets | $ | 2,308.3 | $ | 1,524.4 | $ | 288.1 | $ | (199.0) | $ | 3,921.8 | Total Assets | $ | 2,308.3 | $ | 1,524.4 | $ | 288.1 | $ | (199.0) | $ | 3,921.8 | ||||||||||||||||||||||||||||||||||||||||||
Liabilities: | Liabilities: | Liabilities: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Risk Management Liabilities | Risk Management Liabilities | Risk Management Liabilities | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Risk Management Commodity Contracts (c) (f) | Risk Management Commodity Contracts (c) (f) | $ | 0.9 | $ | 244.2 | $ | 167.2 | $ | (193.4) | $ | 218.9 | Risk Management Commodity Contracts (c) (f) | $ | 0.9 | $ | 244.2 | $ | 167.2 | $ | (193.4) | $ | 218.9 | ||||||||||||||||||||||||||||||||||||||||||
Cash Flow Hedges: | Cash Flow Hedges: | Cash Flow Hedges: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commodity Hedges (c) | Commodity Hedges (c) | 0 | 106.1 | 7.6 | (28.5) | 85.2 | Commodity Hedges (c) | — | 106.1 | 7.6 | (28.5) | 85.2 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate Hedges | Interest Rate Hedges | 0 | 3.4 | 0 | 0 | 3.4 | Interest Rate Hedges | — | 3.4 | — | — | 3.4 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value Hedges | Fair Value Hedges | 0 | 4.1 | 0 | 0 | 4.1 | Fair Value Hedges | — | 4.1 | — | — | 4.1 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Risk Management Liabilities | Total Risk Management Liabilities | $ | 0.9 | $ | 357.8 | $ | 174.8 | $ | (221.9) | $ | 311.6 | Total Risk Management Liabilities | $ | 0.9 | $ | 357.8 | $ | 174.8 | $ | (221.9) | $ | 311.6 |
Level 1 | Level 2 | Level 3 | Other | Total | Level 1 | Level 2 | Level 3 | Other | Total | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Assets: | Assets: | (in millions) | Assets: | (in millions) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Restricted Cash for Securitized Funding | Restricted Cash for Securitized Funding | $ | 39.3 | $ | 0 | $ | 0 | $ | 0 | $ | 39.3 | Restricted Cash for Securitized Funding | $ | 43.9 | $ | — | $ | — | $ | — | $ | 43.9 | ||||||||||||||||||||||||||||||||||||||||||
Risk Management Assets | Risk Management Assets | Risk Management Assets | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Risk Management Commodity Contracts (c) | Risk Management Commodity Contracts (c) | 0 | 0.8 | 0 | (0.8) | 0 | Risk Management Commodity Contracts (c) | — | 0.9 | — | (0.9) | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Assets | Total Assets | $ | 39.3 | $ | 0.8 | $ | 0 | $ | (0.8) | $ | 39.3 | Total Assets | $ | 43.9 | $ | 0.9 | $ | — | $ | (0.9) | $ | 43.9 |
Level 1 | Level 2 | Level 3 | Other | Total | Level 1 | Level 2 | Level 3 | Other | Total | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Assets: | Assets: | (in millions) | Assets: | (in millions) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Restricted Cash for Securitized Funding | Restricted Cash for Securitized Funding | $ | 28.7 | $ | 0 | $ | 0 | $ | 0 | $ | 28.7 | Restricted Cash for Securitized Funding | $ | 28.7 | $ | — | $ | — | $ | — | $ | 28.7 | ||||||||||||||||||||||||||||||||||||||||||
Risk Management Assets | Risk Management Assets | Risk Management Assets | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Risk Management Commodity Contracts (c) | Risk Management Commodity Contracts (c) | 0 | 0.4 | 0 | (0.4) | 0 | Risk Management Commodity Contracts (c) | — | 0.4 | — | (0.4) | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Assets | Total Assets | $ | 28.7 | $ | 0.4 | $ | 0 | $ | (0.4) | $ | 28.7 | Total Assets | $ | 28.7 | $ | 0.4 | $ | — | $ | (0.4) | $ | 28.7 |
Level 1 | Level 2 | Level 3 | Other | Total | Level 1 | Level 2 | Level 3 | Other | Total | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Assets: | Assets: | (in millions) | Assets: | (in millions) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Restricted Cash for Securitized Funding | Restricted Cash for Securitized Funding | $ | 11.6 | $ | 0 | $ | 0 | $ | 0 | $ | 11.6 | Restricted Cash for Securitized Funding | $ | 10.1 | $ | — | $ | — | $ | — | $ | 10.1 | ||||||||||||||||||||||||||||||||||||||||||
Risk Management Assets | Risk Management Assets | Risk Management Assets | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Risk Management Commodity Contracts (c) (g) | Risk Management Commodity Contracts (c) (g) | 0 | 9.8 | 7.1 | (10.0) | 6.9 | Risk Management Commodity Contracts (c) (g) | — | 48.9 | 47.0 | (48.9) | 47.0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Assets | Total Assets | $ | 11.6 | $ | 9.8 | $ | 7.1 | $ | (10.0) | $ | 18.5 | Total Assets | $ | 10.1 | $ | 48.9 | $ | 47.0 | $ | (48.9) | $ | 57.1 | ||||||||||||||||||||||||||||||||||||||||||
Liabilities: | Liabilities: | Liabilities: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Risk Management Liabilities | Risk Management Liabilities | Risk Management Liabilities | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Risk Management Commodity Contracts (c) (g) | Risk Management Commodity Contracts (c) (g) | $ | 0 | $ | 9.2 | $ | 0.5 | $ | (9.5) | $ | 0.2 | Risk Management Commodity Contracts (c) (g) | $ | — | $ | 59.3 | $ | 1.1 | $ | (59.1) | $ | 1.3 |
Level 1 | Level 2 | Level 3 | Other | Total | Level 1 | Level 2 | Level 3 | Other | Total | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Assets: | Assets: | (in millions) | Assets: | (in millions) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Restricted Cash for Securitized Funding | Restricted Cash for Securitized Funding | $ | 16.9 | $ | 0 | $ | 0 | $ | 0 | $ | 16.9 | Restricted Cash for Securitized Funding | $ | 16.9 | $ | — | $ | — | $ | — | $ | 16.9 | ||||||||||||||||||||||||||||||||||||||||||
Risk Management Assets | Risk Management Assets | Risk Management Assets | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Risk Management Commodity Contracts (c) (g) | Risk Management Commodity Contracts (c) (g) | 0 | 19.4 | 19.9 | (19.2) | 20.1 | Risk Management Commodity Contracts (c) (g) | — | 19.4 | 19.9 | (19.2) | 20.1 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Cash Flow Hedges: | Cash Flow Hedges: | Cash Flow Hedges: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate Hedges | Interest Rate Hedges | 0 | 2.4 | 0 | 0 | 2.4 | Interest Rate Hedges | — | 2.4 | — | — | 2.4 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Risk Management Assets | Total Risk Management Assets | 0 | 21.8 | 19.9 | (19.2) | 22.5 | Total Risk Management Assets | — | 21.8 | 19.9 | (19.2) | 22.5 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Assets | Total Assets | $ | 16.9 | $ | 21.8 | $ | 19.9 | $ | (19.2) | $ | 39.4 | Total Assets | $ | 16.9 | $ | 21.8 | $ | 19.9 | $ | (19.2) | $ | 39.4 | ||||||||||||||||||||||||||||||||||||||||||
Liabilities: | Liabilities: | Liabilities: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Risk Management Liabilities | Risk Management Liabilities | Risk Management Liabilities | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Risk Management Commodity Contracts (c) (g) | Risk Management Commodity Contracts (c) (g) | $ | 0 | $ | 19.5 | $ | 0.6 | $ | (18.8) | $ | 1.3 | Risk Management Commodity Contracts (c) (g) | $ | — | $ | 19.5 | $ | 0.6 | $ | (18.8) | $ | 1.3 | ||||||||||||||||||||||||||||||||||||||||||
Cash Flow Hedges: | Cash Flow Hedges: | Cash Flow Hedges: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate Hedges | Interest Rate Hedges | 0 | 3.4 | 0 | 0 | 3.4 | Interest Rate Hedges | — | 3.4 | — | — | 3.4 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Risk Management Liabilities | Total Risk Management Liabilities | $ | 0 | $ | 22.9 | $ | 0.6 | $ | (18.8) | $ | 4.7 | Total Risk Management Liabilities | $ | — | $ | 22.9 | $ | 0.6 | $ | (18.8) | $ | 4.7 |
Level 1 | Level 2 | Level 3 | Other | Total | Level 1 | Level 2 | Level 3 | Other | Total | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Assets: | Assets: | (in millions) | Assets: | (in millions) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Risk Management Assets | Risk Management Assets | Risk Management Assets | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Risk Management Commodity Contracts (c) (g) | Risk Management Commodity Contracts (c) (g) | $ | 0 | $ | 6.0 | $ | 1.1 | $ | (6.2) | $ | 0.9 | Risk Management Commodity Contracts (c) (g) | $ | — | $ | 30.9 | $ | 7.0 | $ | (32.4) | $ | 5.5 | ||||||||||||||||||||||||||||||||||||||||||
Spent Nuclear Fuel and Decommissioning Trusts | Spent Nuclear Fuel and Decommissioning Trusts | Spent Nuclear Fuel and Decommissioning Trusts | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cash and Cash Equivalents (e) | Cash and Cash Equivalents (e) | 39.5 | 0 | 0 | 8.2 | 47.7 | Cash and Cash Equivalents (e) | 56.0 | — | — | 7.9 | 63.9 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Fixed Income Securities: | Fixed Income Securities: | Fixed Income Securities: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
United States Government | United States Government | 0 | 998.9 | 0 | 0 | 998.9 | United States Government | — | 1,135.3 | — | — | 1,135.3 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Corporate Debt | Corporate Debt | 0 | 76.4 | 0 | 0 | 76.4 | Corporate Debt | — | 86.6 | — | — | 86.6 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
State and Local Government | State and Local Government | 0 | 83.8 | 0 | 0 | 83.8 | State and Local Government | — | 36.8 | — | — | 36.8 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Subtotal Fixed Income Securities | Subtotal Fixed Income Securities | 0 | 1,159.1 | 0 | 0 | 1,159.1 | Subtotal Fixed Income Securities | — | 1,258.7 | — | — | 1,258.7 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Equity Securities - Domestic (b) | Equity Securities - Domestic (b) | 2,207.5 | 0 | 0 | 0 | 2,207.5 | Equity Securities - Domestic (b) | 2,287.2 | — | — | — | 2,287.2 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Spent Nuclear Fuel and Decommissioning Trusts | Total Spent Nuclear Fuel and Decommissioning Trusts | 2,247.0 | 1,159.1 | 0 | 8.2 | 3,414.3 | Total Spent Nuclear Fuel and Decommissioning Trusts | 2,343.2 | 1,258.7 | — | 7.9 | 3,609.8 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Assets | Total Assets | $ | 2,247.0 | $ | 1,165.1 | $ | 1.1 | $ | 2.0 | $ | 3,415.2 | Total Assets | $ | 2,343.2 | $ | 1,289.6 | $ | 7.0 | $ | (24.5) | $ | 3,615.3 | ||||||||||||||||||||||||||||||||||||||||||
Liabilities: | Liabilities: | Liabilities: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Risk Management Liabilities | Risk Management Liabilities | Risk Management Liabilities | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Risk Management Commodity Contracts (c) (g) | Risk Management Commodity Contracts (c) (g) | $ | 0 | $ | 6.1 | $ | 0.4 | $ | (6.3) | $ | 0.2 | Risk Management Commodity Contracts (c) (g) | $ | — | $ | 48.3 | $ | 3.7 | $ | (49.5) | $ | 2.5 |
Level 1 | Level 2 | Level 3 | Other | Total | Level 1 | Level 2 | Level 3 | Other | Total | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Assets: | Assets: | (in millions) | Assets: | (in millions) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Risk Management Assets | Risk Management Assets | Risk Management Assets | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Risk Management Commodity Contracts (c) (g) | Risk Management Commodity Contracts (c) (g) | $ | 0 | $ | 15.1 | $ | 2.5 | $ | (13.9) | $ | 3.7 | Risk Management Commodity Contracts (c) (g) | $ | — | $ | 15.1 | $ | 2.5 | $ | (13.9) | $ | 3.7 | ||||||||||||||||||||||||||||||||||||||||||
Spent Nuclear Fuel and Decommissioning Trusts | Spent Nuclear Fuel and Decommissioning Trusts | Spent Nuclear Fuel and Decommissioning Trusts | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cash and Cash Equivalents (e) | Cash and Cash Equivalents (e) | 16.8 | 0 | 0 | 9.0 | 25.8 | Cash and Cash Equivalents (e) | 16.8 | — | — | 9.0 | 25.8 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Fixed Income Securities: | Fixed Income Securities: | Fixed Income Securities: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
United States Government | United States Government | 0 | 1,025.6 | 0 | 0 | 1,025.6 | United States Government | — | 1,025.6 | — | — | 1,025.6 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Corporate Debt | Corporate Debt | 0 | 86.3 | 0 | 0 | 86.3 | Corporate Debt | — | 86.3 | — | — | 86.3 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
State and Local Government | State and Local Government | 0 | 114.3 | 0 | 0 | 114.3 | State and Local Government | — | 114.3 | — | — | 114.3 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Subtotal Fixed Income Securities | Subtotal Fixed Income Securities | 0 | 1,226.2 | 0 | 0 | 1,226.2 | Subtotal Fixed Income Securities | — | 1,226.2 | — | — | 1,226.2 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Equity Securities - Domestic (b) | Equity Securities - Domestic (b) | 2,054.7 | 0 | 0 | 0 | 2,054.7 | Equity Securities - Domestic (b) | 2,054.7 | — | — | — | 2,054.7 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Spent Nuclear Fuel and Decommissioning Trusts | Total Spent Nuclear Fuel and Decommissioning Trusts | 2,071.5 | 1,226.2 | 0 | 9.0 | 3,306.7 | Total Spent Nuclear Fuel and Decommissioning Trusts | 2,071.5 | 1,226.2 | — | 9.0 | 3,306.7 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Assets | Total Assets | $ | 2,071.5 | $ | 1,241.3 | $ | 2.5 | $ | (4.9) | $ | 3,310.4 | Total Assets | $ | 2,071.5 | $ | 1,241.3 | $ | 2.5 | $ | (4.9) | $ | 3,310.4 | ||||||||||||||||||||||||||||||||||||||||||
Liabilities: | Liabilities: | Liabilities: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Risk Management Liabilities | Risk Management Liabilities | Risk Management Liabilities | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Risk Management Commodity Contracts (c) (g) | Risk Management Commodity Contracts (c) (g) | $ | 0 | $ | 12.0 | $ | 0.4 | $ | (12.2) | $ | 0.2 | Risk Management Commodity Contracts (c) (g) | $ | — | $ | 12.0 | $ | 0.4 | $ | (12.2) | $ | 0.2 |
Level 1 | Level 2 | Level 3 | Other | Total | Level 1 | Level 2 | Level 3 | Other | Total | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Assets: | Assets: | (in millions) | Assets: | (in millions) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Risk Management Assets | Risk Management Assets | Risk Management Assets | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Risk Management Commodity Contracts (c) (g) | Risk Management Commodity Contracts (c) (g) | $ | 0 | $ | 0.6 | $ | 0 | $ | (0.6) | $ | 0 | Risk Management Commodity Contracts (c) (g) | $ | — | $ | 0.7 | $ | — | $ | (0.7) | $ | — | ||||||||||||||||||||||||||||||||||||||||||
Liabilities: | Liabilities: | Liabilities: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Risk Management Liabilities | Risk Management Liabilities | Risk Management Liabilities | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Risk Management Commodity Contracts (c) (g) | Risk Management Commodity Contracts (c) (g) | $ | 0 | $ | 0 | $ | 104.0 | $ | 0 | $ | 104.0 | Risk Management Commodity Contracts (c) (g) | $ | — | $ | — | $ | 90.4 | $ | — | $ | 90.4 |
Level 1 | Level 2 | Level 3 | Other | Total | Level 1 | Level 2 | Level 3 | Other | Total | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Assets: | Assets: | (in millions) | Assets: | (in millions) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Risk Management Assets | Risk Management Assets | Risk Management Assets | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Risk Management Commodity Contracts (c) (g) | Risk Management Commodity Contracts (c) (g) | $ | 0 | $ | 0.3 | $ | 0 | $ | (0.3) | $ | 0 | Risk Management Commodity Contracts (c) (g) | $ | — | $ | 0.3 | $ | — | $ | (0.3) | $ | — | ||||||||||||||||||||||||||||||||||||||||||
Liabilities: | Liabilities: | Liabilities: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Risk Management Liabilities | Risk Management Liabilities | Risk Management Liabilities | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Risk Management Commodity Contracts (c) (g) | Risk Management Commodity Contracts (c) (g) | $ | 0 | $ | 0 | $ | 110.3 | $ | 0 | $ | 110.3 | Risk Management Commodity Contracts (c) (g) | $ | — | $ | — | $ | 110.3 | $ | — | $ | 110.3 |
Level 1 | Level 2 | Level 3 | Other | Total | Level 1 | Level 2 | Level 3 | Other | Total | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Assets: | Assets: | (in millions) | Assets: | (in millions) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Risk Management Assets | Risk Management Assets | Risk Management Assets | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Risk Management Commodity Contracts (c) (g) | Risk Management Commodity Contracts (c) (g) | $ | 0 | $ | 0.3 | $ | 5.5 | $ | (0.3) | $ | 5.5 | Risk Management Commodity Contracts (c) (g) | $ | — | $ | 0.3 | $ | 18.7 | $ | (0.5) | $ | 18.5 | ||||||||||||||||||||||||||||||||||||||||||
Liabilities: | Liabilities: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Risk Management Liabilities | Risk Management Liabilities | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Risk Management Commodity Contracts (c) (g) | Risk Management Commodity Contracts (c) (g) | $ | — | $ | — | $ | 0.2 | $ | (0.2) | $ | — |
Level 1 | Level 2 | Level 3 | Other | Total | Level 1 | Level 2 | Level 3 | Other | Total | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Assets: | Assets: | (in millions) | Assets: | (in millions) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Risk Management Assets | Risk Management Assets | Risk Management Assets | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Risk Management Commodity Contracts (c) (g) | Risk Management Commodity Contracts (c) (g) | $ | 0 | $ | 0.2 | $ | 10.3 | $ | (0.2) | $ | 10.3 | Risk Management Commodity Contracts (c) (g) | $ | — | $ | 0.2 | $ | 10.3 | $ | (0.2) | $ | 10.3 |
Level 1 | Level 2 | Level 3 | Other | Total | Level 1 | Level 2 | Level 3 | Other | Total | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Assets: | Assets: | (in millions) | Assets: | (in millions) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Risk Management Assets | Risk Management Assets | Risk Management Assets | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Risk Management Commodity Contracts (c) (g) | Risk Management Commodity Contracts (c) (g) | $ | 0 | $ | 0.3 | $ | 1.4 | $ | (0.4) | $ | 1.3 | Risk Management Commodity Contracts (c) (g) | $ | — | $ | 0.4 | $ | 19.8 | $ | (0.6) | $ | 19.6 | ||||||||||||||||||||||||||||||||||||||||||
Liabilities: | Liabilities: | Liabilities: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Risk Management Liabilities | Risk Management Liabilities | Risk Management Liabilities | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Risk Management Commodity Contracts (c) (g) | Risk Management Commodity Contracts (c) (g) | $ | 0 | $ | 0 | $ | 0.9 | $ | 0 | $ | 0.9 | Risk Management Commodity Contracts (c) (g) | $ | — | $ | — | $ | 0.2 | $ | (0.2) | $ | — |
Level 1 | Level 2 | Level 3 | Other | Total | Level 1 | Level 2 | Level 3 | Other | Total | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Assets: | Assets: | (in millions) | Assets: | (in millions) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Risk Management Assets | Risk Management Assets | Risk Management Assets | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Risk Management Commodity Contracts (c) (g) | Risk Management Commodity Contracts (c) (g) | $ | 0 | $ | 0.1 | $ | 3.3 | $ | (0.2) | $ | 3.2 | Risk Management Commodity Contracts (c) (g) | $ | — | $ | 0.1 | $ | 3.3 | $ | (0.2) | $ | 3.2 | ||||||||||||||||||||||||||||||||||||||||||
Liabilities: | Liabilities: | Liabilities: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Risk Management Liabilities | Risk Management Liabilities | Risk Management Liabilities | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Risk Management Commodity Contracts (c) (g) | Risk Management Commodity Contracts (c) (g) | $ | 0 | $ | 0 | $ | 1.7 | $ | 0 | $ | 1.7 | Risk Management Commodity Contracts (c) (g) | $ | — | $ | — | $ | 1.7 | $ | — | $ | 1.7 |
Three Months Ended March 31, 2021 | AEP | APCo | I&M | OPCo | PSO | SWEPCo | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Three Months Ended September 30, 2021 | Three Months Ended September 30, 2021 | AEP | APCo | I&M | OPCo | PSO | SWEPCo | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance as of June 30, 2021 | Balance as of June 30, 2021 | $ | 101.2 | $ | 36.6 | $ | 7.3 | $ | (105.4) | $ | 22.9 | $ | 14.6 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Realized Gain (Loss) Included in Net Income (or Changes in Net Assets) (a) (b) | Realized Gain (Loss) Included in Net Income (or Changes in Net Assets) (a) (b) | 27.5 | 4.0 | 0.1 | 0.1 | 13.5 | 5.8 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Unrealized Gain (Loss) Included in Net Income (or Changes in Net Assets) Relating to Assets Still Held at the Reporting Date (a) | Unrealized Gain (Loss) Included in Net Income (or Changes in Net Assets) Relating to Assets Still Held at the Reporting Date (a) | 2.9 | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Realized and Unrealized Gains (Losses) Included in Other Comprehensive Income (c) | Realized and Unrealized Gains (Losses) Included in Other Comprehensive Income (c) | 17.8 | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Settlements | Settlements | (54.5) | (10.5) | (3.8) | 0.9 | (20.6) | (9.8) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Transfers into Level 3 (d) (e) | Transfers into Level 3 (d) (e) | (5.8) | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Transfers out of Level 3 (e) | Transfers out of Level 3 (e) | (4.1) | 0.1 | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Changes in Fair Value Allocated to Regulated Jurisdictions (f) | Changes in Fair Value Allocated to Regulated Jurisdictions (f) | 44.0 | 15.7 | (0.3) | 14.0 | 2.7 | 9.0 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance as of September 30, 2021 | Balance as of September 30, 2021 | $ | 129.0 | $ | 45.9 | $ | 3.3 | $ | (90.4) | $ | 18.5 | $ | 19.6 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Three Months Ended September 30, 2020 | Three Months Ended September 30, 2020 | AEP | APCo | I&M | OPCo | PSO | SWEPCo | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance as of June 30, 2020 | Balance as of June 30, 2020 | $ | 111.6 | $ | 36.5 | $ | 4.5 | $ | (117.4) | $ | 23.8 | $ | 3.3 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Realized Gain (Loss) Included in Net Income (or Changes in Net Assets) (a) (b) | Realized Gain (Loss) Included in Net Income (or Changes in Net Assets) (a) (b) | 18.7 | 6.4 | 3.3 | — | 3.0 | 1.5 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Unrealized Gain (Loss) Included in Net Income (or Changes in Net Assets) Relating to Assets Still Held at the Reporting Date (a) | Unrealized Gain (Loss) Included in Net Income (or Changes in Net Assets) Relating to Assets Still Held at the Reporting Date (a) | 6.5 | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Realized and Unrealized Gains (Losses) Included in Other Comprehensive Income (c) | Realized and Unrealized Gains (Losses) Included in Other Comprehensive Income (c) | 2.6 | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Settlements | Settlements | (37.0) | (11.1) | (5.0) | 1.3 | (10.3) | (3.5) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Transfers into Level 3 (d) (e) | Transfers into Level 3 (d) (e) | (1.0) | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Transfers out of Level 3 (e) | Transfers out of Level 3 (e) | 1.1 | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Changes in Fair Value Allocated to Regulated Jurisdictions (f) | Changes in Fair Value Allocated to Regulated Jurisdictions (f) | 3.6 | (2.2) | 1.0 | 2.9 | (0.4) | 2.4 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance as of September 30, 2020 | Balance as of September 30, 2020 | $ | 106.1 | $ | 29.6 | $ | 3.8 | $ | (113.2) | $ | 16.1 | $ | 3.7 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Nine Months Ended September 30, 2021 | Nine Months Ended September 30, 2021 | AEP | APCo | I&M | OPCo | PSO | SWEPCo | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(in millions) | (in millions) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance as of December 31, 2020 | Balance as of December 31, 2020 | $ | 113.3 | $ | 19.3 | $ | 2.1 | $ | (110.3) | $ | 10.3 | $ | 1.6 | Balance as of December 31, 2020 | $ | 113.3 | $ | 19.3 | $ | 2.1 | $ | (110.3) | $ | 10.3 | $ | 1.6 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Realized Gain (Loss) Included in Net Income (or Changes in Net Assets) (a) (b) | Realized Gain (Loss) Included in Net Income (or Changes in Net Assets) (a) (b) | 19.8 | 2.1 | 0.3 | 0 | 9.3 | 6.1 | Realized Gain (Loss) Included in Net Income (or Changes in Net Assets) (a) (b) | 68.9 | 38.8 | 0.4 | 0.4 | 16.1 | 9.5 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Unrealized Gain (Loss) Included in Net Income (or Changes in Net Assets) Relating to Assets Still Held at the Reporting Date (a) | Unrealized Gain (Loss) Included in Net Income (or Changes in Net Assets) Relating to Assets Still Held at the Reporting Date (a) | (21.3) | 0 | 0 | 0 | 0 | 0 | Unrealized Gain (Loss) Included in Net Income (or Changes in Net Assets) Relating to Assets Still Held at the Reporting Date (a) | (64.1) | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Realized and Unrealized Gains (Losses) Included in Other Comprehensive Income (c) | Realized and Unrealized Gains (Losses) Included in Other Comprehensive Income (c) | 3.1 | 0 | 0 | 0 | 0 | 0 | Realized and Unrealized Gains (Losses) Included in Other Comprehensive Income (c) | 35.5 | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Settlements | Settlements | (47.9) | (15.6) | (1.4) | 2.7 | (16.3) | (8.2) | Settlements | (113.3) | (58.2) | (2.5) | 5.8 | (26.4) | (13.0) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Transfers into Level 3 (d) (e) | Transfers into Level 3 (d) (e) | 0.5 | 0 | 0 | 0 | 0 | 0 | Transfers into Level 3 (d) (e) | (0.2) | — | — | 0 | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Transfers out of Level 3 (e) | Transfers out of Level 3 (e) | (33.0) | 0 | 0 | 0 | 0 | 0 | Transfers out of Level 3 (e) | (26.2) | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Changes in Fair Value Allocated to Regulated Jurisdictions (f) | Changes in Fair Value Allocated to Regulated Jurisdictions (f) | 7.3 | 0.8 | (0.3) | 3.6 | 2.2 | 1.0 | Changes in Fair Value Allocated to Regulated Jurisdictions (f) | 115.1 | 46.0 | 3.3 | 13.7 | 18.5 | 21.5 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance as of March 31, 2021 | $ | 41.8 | $ | 6.6 | $ | 0.7 | $ | (104.0) | $ | 5.5 | $ | 0.5 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance as of September 30, 2021 | Balance as of September 30, 2021 | $ | 129.0 | $ | 45.9 | $ | 3.3 | $ | (90.4) | $ | 18.5 | $ | 19.6 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Three Months Ended March 31, 2020 | AEP | APCo | I&M | OPCo | PSO | SWEPCo | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance as of December 31, 2019 | $ | 109.9 | $ | 37.7 | $ | 5.8 | $ | (103.6) | $ | 15.8 | $ | 1.4 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Realized Gain (Loss) Included in Net Income (or Changes in Net Assets) (a) (b) | 0.9 | (9.2) | 0.2 | (0.3) | 8.0 | 1.9 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Unrealized Gain (Loss) Included in Net Income (or Changes in Net Assets) Relating to Assets Still Held at the Reporting Date (a) | 10.9 | 0 | 0 | 0 | 0 | 0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Realized and Unrealized Gains (Losses) Included in Other Comprehensive Income (c) | (4.1) | 0 | 0 | 0 | 0 | 0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Settlements | (59.2) | (21.9) | (4.0) | 2.5 | (17.7) | (5.3) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Transfers into Level 3 (d) (e) | (0.5) | 0 | 0 | 0 | 0 | 0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Transfers out of Level 3 (e) | 5.3 | 0.7 | 0.4 | 0 | 0 | 0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Changes in Fair Value Allocated to Regulated Jurisdictions (f) | (20.7) | (0.7) | (0.3) | (19.5) | 0.2 | (0.5) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance as of March 31, 2020 | $ | 42.5 | $ | 6.6 | $ | 2.1 | $ | (120.9) | $ | 6.3 | $ | (2.5) |
Nine Months Ended September 30, 2020 | AEP | APCo | I&M | OPCo | PSO | SWEPCo | ||||||||||||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||||||||||||||||
Balance as of December 31, 2019 | $ | 109.9 | $ | 37.7 | $ | 5.8 | $ | (103.6) | $ | 15.8 | $ | 1.4 | ||||||||||||||||||||||||||
Realized Gain (Loss) Included in Net Income (or Changes in Net Assets) (a) (b) | 39.6 | 13.1 | 2.4 | (1.2) | 11.9 | 2.8 | ||||||||||||||||||||||||||||||||
Unrealized Gain (Loss) Included in Net Income (or Changes in Net Assets) Relating to Assets Still Held at the Reporting Date (a) | (2.4) | — | — | — | — | — | ||||||||||||||||||||||||||||||||
Realized and Unrealized Gains (Losses) Included in Other Comprehensive Income (c) | 21.7 | — | — | — | — | — | ||||||||||||||||||||||||||||||||
Settlements | (115.3) | (51.4) | (8.5) | 6.4 | (27.6) | (6.9) | ||||||||||||||||||||||||||||||||
Transfers into Level 3 (d) (e) | (1.1) | — | — | — | — | — | ||||||||||||||||||||||||||||||||
Transfers out of Level 3 (e) | 5.6 | 0.7 | 0.4 | — | — | — | ||||||||||||||||||||||||||||||||
Changes in Fair Value Allocated to Regulated Jurisdictions (f) | 48.1 | 29.5 | 3.7 | (14.8) | 16.0 | 6.4 | ||||||||||||||||||||||||||||||||
Balance as of September 30, 2020 | $ | 106.1 | $ | 29.6 | $ | 3.8 | $ | (113.2) | $ | 16.1 | $ | 3.7 |
Significant | Input/Range | Significant | Input/Range | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | Valuation | Unobservable | Weighted | Fair Value | Valuation | Unobservable | Weighted | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Assets | Liabilities | Technique | Input | Low | High | Average | Assets | Liabilities | Technique | Input | Low | High | Average | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(in millions) | (in millions) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Energy Contracts | Energy Contracts | $ | 178.5 | $ | 151.7 | Discounted Cash Flow | Forward Market Price (a) (c) | $ | 0.10 | $ | 98.66 | $ | 28.85 | Energy Contracts | $ | 145.6 | $ | 117.3 | Discounted Cash Flow | Forward Market Price (a) (c) | $ | 0.10 | $ | 108.40 | $ | 35.57 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Natural Gas Contracts | Natural Gas Contracts | 0 | 0.9 | Discounted Cash Flow | Forward Market Price (b) (c) | 2.24 | 2.92 | 2.50 | Natural Gas Contracts | 9.0 | — | Discounted Cash Flow | Forward Market Price (b) (c) | 2.92 | 6.27 | 4.59 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
FTRs | FTRs | 19.0 | 3.1 | Discounted Cash Flow | Forward Market Price (a) (c) | (13.61) | 9.08 | 0.02 | FTRs | 98.6 | 6.9 | Discounted Cash Flow | Forward Market Price (a) (c) | (21.95) | 13.46 | 0.46 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total | Total | $ | 197.5 | $ | 155.7 | Total | $ | 253.2 | $ | 124.2 |
Significant | Input/Range | Significant | Input/Range | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | Valuation | Unobservable | Weighted | Fair Value | Valuation | Unobservable | Weighted | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Assets | Liabilities | Technique | Input | Low | High | Average | Assets | Liabilities | Technique | Input | Low | High | Average | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(in millions) | (in millions) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Energy Contracts | Energy Contracts | $ | 213.5 | $ | 169.7 | Discounted Cash Flow | Forward Market Price (a) (c) | $ | 5.33 | $ | 100.47 | $ | 32.73 | Energy Contracts | $ | 213.5 | $ | 169.7 | Discounted Cash Flow | Forward Market Price (a) (c) | $ | 5.33 | $ | 100.47 | $ | 32.73 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Natural Gas Contracts | Natural Gas Contracts | 0 | 1.7 | Discounted Cash Flow | Forward Market Price (b) (c) | 2.18 | 2.77 | 2.40 | Natural Gas Contracts | — | 1.7 | Discounted Cash Flow | Forward Market Price (b) (c) | 2.18 | 2.77 | 2.40 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
FTRs | FTRs | 42.8 | 3.4 | Discounted Cash Flow | Forward Market Price (a) (c) | (15.08) | 9.66 | 0.19 | FTRs | 42.8 | 3.4 | Discounted Cash Flow | Forward Market Price (a) (c) | (15.08) | 9.66 | 0.19 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Investments | Other Investments | 31.8 | 0 | Black-Scholes Model | Liquidity Adjustment (d) | 10 | % | 20 | % | 15 | % | Other Investments | 31.8 | — | Black-Scholes Model | Liquidity Adjustment (d) | 10 | % | 20 | % | 15 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total | Total | $ | 288.1 | $ | 174.8 | Total | $ | 288.1 | $ | 174.8 |
Significant | Input/Range | Significant | Input/Range | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | Valuation | Unobservable | Weighted | Fair Value | Valuation | Unobservable | Weighted | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Assets | Liabilities | Technique | Input (a) | Low | High | Average (c) | Assets | Liabilities | Technique | Input (a) | Low | High | Average (c) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(in millions) | (in millions) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Energy Contracts | Energy Contracts | $ | 0.4 | $ | 0.5 | Discounted Cash Flow | Forward Market Price | $ | 10.92 | $ | 44.29 | $ | 25.13 | Energy Contracts | $ | 0.2 | $ | 1.1 | Discounted Cash Flow | Forward Market Price | $ | 26.70 | $ | 87.14 | $ | 53.61 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
FTRs | FTRs | 6.7 | 0 | Discounted Cash Flow | Forward Market Price | 0.08 | 4.99 | 0.99 | FTRs | 46.8 | — | Discounted Cash Flow | Forward Market Price | 0.35 | 13.46 | 1.83 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total | Total | $ | 7.1 | $ | 0.5 | Total | $ | 47.0 | $ | 1.1 |
Significant | Input/Range | Significant | Input/Range | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | Valuation | Unobservable | Weighted | Fair Value | Valuation | Unobservable | Weighted | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Assets | Liabilities | Technique | Input (a) | Low | High | Average (c) | Assets | Liabilities | Technique | Input (a) | Low | High | Average (c) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(in millions) | (in millions) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Energy Contracts | Energy Contracts | $ | 1.0 | $ | 0.6 | Discounted Cash Flow | Forward Market Price | $ | 10.84 | $ | 41.09 | $ | 25.08 | Energy Contracts | $ | 1.0 | $ | 0.6 | Discounted Cash Flow | Forward Market Price | $ | 10.84 | $ | 41.09 | $ | 25.08 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
FTRs | FTRs | 18.9 | 0 | Discounted Cash Flow | Forward Market Price | 0.04 | 5.61 | 1.13 | FTRs | 18.9 | — | Discounted Cash Flow | Forward Market Price | 0.04 | 5.61 | 1.13 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total | Total | $ | 19.9 | $ | 0.6 | Total | $ | 19.9 | $ | 0.6 |
Significant | Input/Range | Significant | Input/Range | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | Valuation | Unobservable | Weighted | Fair Value | Valuation | Unobservable | Weighted | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Assets | Liabilities | Technique | Input (a) | Low | High | Average (c) | Assets | Liabilities | Technique | Input (a) | Low | High | Average (c) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(in millions) | (in millions) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Energy Contracts | Energy Contracts | $ | 0.3 | $ | 0.3 | Discounted Cash Flow | Forward Market Price | $ | 10.92 | $ | 44.29 | $ | 25.13 | Energy Contracts | $ | 0.2 | $ | 0.7 | Discounted Cash Flow | Forward Market Price | $ | 26.70 | $ | 87.14 | $ | 53.61 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
FTRs | FTRs | 0.8 | 0.1 | Discounted Cash Flow | Forward Market Price | (2.29) | 3.66 | 0.33 | FTRs | 6.8 | 3.0 | Discounted Cash Flow | Forward Market Price | (1.85) | 5.75 | 0.37 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total | Total | $ | 1.1 | $ | 0.4 | Total | $ | 7.0 | $ | 3.7 |
Significant | Input/Range | ||||||||||||||||||||||||||||||||||||||||
Fair Value | Valuation | Unobservable | Weighted | ||||||||||||||||||||||||||||||||||||||
Assets | Liabilities | Technique | Input (a) | Low | High | Average (c) | |||||||||||||||||||||||||||||||||||
(in millions) | |||||||||||||||||||||||||||||||||||||||||
Energy Contracts | $ | 0.6 | $ | 0.3 | Discounted Cash Flow | Forward Market Price | $ | 10.84 | $ | 41.09 | $ | 25.08 | |||||||||||||||||||||||||||||
FTRs | 1.9 | 0.1 | Discounted Cash Flow | Forward Market Price | (1.96) | 3.69 | 0.33 | ||||||||||||||||||||||||||||||||||
Total | $ | 2.5 | $ | 0.4 |
Significant | Input/Range | ||||||||||||||||||||||||||||||||||||||||
Fair Value | Valuation | Unobservable | Weighted | ||||||||||||||||||||||||||||||||||||||
Assets | Liabilities | Technique | Input (a) | Low | High | Average (c) | |||||||||||||||||||||||||||||||||||
(in millions) | |||||||||||||||||||||||||||||||||||||||||
Energy Contracts | $ | 0 | $ | 104.0 | Discounted Cash Flow | Forward Market Price | $ | 15.08 | $ | 49.09 | $ | 27.79 | |||||||||||||||||||||||||||||
Significant | Input/Range | ||||||||||||||||||||||||||||||||||||||||
Fair Value | Valuation | Unobservable | Weighted | ||||||||||||||||||||||||||||||||||||||
Assets | Liabilities | Technique | Input (a) | Low | High | Average (c) | |||||||||||||||||||||||||||||||||||
(in millions) | |||||||||||||||||||||||||||||||||||||||||
Energy Contracts | $ | — | $ | 90.4 | Discounted Cash Flow | Forward Market Price | $ | 9.89 | $ | 81.50 | $ | 32.40 | |||||||||||||||||||||||||||||
Significant | Input/Range | ||||||||||||||||||||||||||||||||||||||||
Fair Value | Valuation | Unobservable | Weighted | ||||||||||||||||||||||||||||||||||||||
Assets | Liabilities | Technique | Input (a) | Low | High | Average (c) | |||||||||||||||||||||||||||||||||||
(in millions) | |||||||||||||||||||||||||||||||||||||||||
Energy Contracts | $ | 0 | $ | 110.3 | Discounted Cash Flow | Forward Market Price | $ | 16.19 | $ | 46.98 | $ | 28.30 | |||||||||||||||||||||||||||||
Significant | Input/Range | ||||||||||||||||||||||||||||||||||||||||
Fair Value | Valuation | Unobservable | Weighted | ||||||||||||||||||||||||||||||||||||||
Assets | Liabilities | Technique | Input (a) | Low | High | Average (c) | |||||||||||||||||||||||||||||||||||
(in millions) | |||||||||||||||||||||||||||||||||||||||||
Energy Contracts | $ | — | $ | 110.3 | Discounted Cash Flow | Forward Market Price | $ | 16.19 | $ | 46.98 | $ | 28.30 | |||||||||||||||||||||||||||||
Significant | Input/Range | ||||||||||||||||||||||||||||||||||||||||
Fair Value | Valuation | Unobservable | Weighted | ||||||||||||||||||||||||||||||||||||||
Assets | Liabilities | Technique | Input (a) | Low | High | Average (c) | |||||||||||||||||||||||||||||||||||
(in millions) | |||||||||||||||||||||||||||||||||||||||||
FTRs | $ | 5.5 | $ | 0 | Discounted Cash Flow | Forward Market Price | $ | (13.61) | $ | 2.04 | $ | (3.01) |
Significant | Input/Range | ||||||||||||||||||||||||||||||||||||||||
Fair Value | Valuation | Unobservable | Weighted | ||||||||||||||||||||||||||||||||||||||
Assets | Liabilities | Technique | Input (a) | Low | High | Average (c) | |||||||||||||||||||||||||||||||||||
(in millions) | |||||||||||||||||||||||||||||||||||||||||
FTRs | $ | 18.7 | $ | 0.2 | Discounted Cash Flow | Forward Market Price | $ | (18.86) | $ | 4.10 | $ | (2.44) |
Significant | Input/Range | ||||||||||||||||||||||||||||||||||||||||
Fair Value | Valuation | Unobservable | Weighted | ||||||||||||||||||||||||||||||||||||||
Assets | Liabilities | Technique | Input (a) | Low | High | Average (c) | |||||||||||||||||||||||||||||||||||
(in millions) | |||||||||||||||||||||||||||||||||||||||||
FTRs | $ | 10.3 | $ | 0 | Discounted Cash Flow | Forward Market Price | $ | (6.93) | $ | 0.48 | $ | (1.93) |
Significant | Input/Range | ||||||||||||||||||||||||||||||||||||||||
Fair Value | Valuation | Unobservable | Weighted | ||||||||||||||||||||||||||||||||||||||
Assets | Liabilities | Technique | Input (a) | Low | High | Average (c) | |||||||||||||||||||||||||||||||||||
(in millions) | |||||||||||||||||||||||||||||||||||||||||
FTRs | $ | 10.3 | $ | — | Discounted Cash Flow | Forward Market Price | $ | (6.93) | $ | 0.48 | $ | (1.93) |
Significant | Input/Range | Significant | Input/Range | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | Valuation | Unobservable | Weighted | Fair Value | Valuation | Unobservable | Weighted | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Assets | Liabilities | Technique | Input | Low | High | Average (c) | Assets | Liabilities | Technique | Input | Low | High | Average (c) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(in millions) | (in millions) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Natural Gas Contracts | Natural Gas Contracts | $ | 0 | $ | 0.9 | Discounted Cash Flow | Forward Market Price (b) | $ | 2.24 | $ | 2.92 | $ | 2.50 | Natural Gas Contracts | $ | 9.0 | $ | — | Discounted Cash Flow | Forward Market Price (b) | $ | 3.58 | $ | 6.27 | $ | 4.44 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
FTRs | FTRs | 1.4 | 0 | Discounted Cash Flow | Forward Market Price (a) | (13.61) | 2.04 | (3.01) | FTRs | 10.8 | 0.2 | Discounted Cash Flow | Forward Market Price (a) | (18.86) | 4.10 | (2.44) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total | Total | $ | 1.4 | $ | 0.9 | Total | $ | 19.8 | $ | 0.2 |
Significant | Input/Range | Significant | Input/Range | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value | Valuation | Unobservable | Weighted | Fair Value | Valuation | Unobservable | Weighted | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Assets | Liabilities | Technique | Input | Low | High | Average (c) | Assets | Liabilities | Technique | Input | Low | High | Average (c) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(in millions) | (in millions) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Natural Gas Contracts | Natural Gas Contracts | $ | 0 | $ | 1.7 | Discounted Cash Flow | Forward Market Price (b) | $ | 2.18 | $ | 2.77 | $ | 2.41 | Natural Gas Contracts | $ | — | $ | 1.7 | Discounted Cash Flow | Forward Market Price (b) | $ | 2.18 | $ | 2.77 | $ | 2.41 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
FTRs | FTRs | 3.3 | 0 | Discounted Cash Flow | Forward Market Price (a) | (6.93) | 0.48 | (1.93) | FTRs | 3.3 | — | Discounted Cash Flow | Forward Market Price (a) | (6.93) | 0.48 | (1.93) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total | Total | $ | 3.3 | $ | 1.7 | Total | $ | 3.3 | $ | 1.7 |
Significant Unobservable Input | Position | Change in Input | Impact on Fair Value Measurement | |||||||||||||||||
Forward Market Price | Buy | Increase (Decrease) | Higher (Lower) | |||||||||||||||||
Forward Market Price | Sell | Increase (Decrease) | Lower (Higher) | |||||||||||||||||
Liquidity Adjustment | Buy | Increase (Decrease) | Lower (Higher) |
Three Months Ended March 31, 2021 | Three Months Ended September 30, 2021 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
AEP | AEP Texas | AEPTCo | APCo | I&M | OPCo | PSO | SWEPCo | AEP | AEP Texas | AEPTCo | APCo | I&M | OPCo | PSO | SWEPCo | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
U.S. Federal Statutory Rate | U.S. Federal Statutory Rate | 21.0 | % | 21.0 | % | 21.0 | % | 21.0 | % | 21.0 | % | 21.0 | % | 21.0 | % | 21.0 | % | 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: | Increase (decrease) due to: | Increase (decrease) due to: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
State Income Tax, net of Federal Benefit | State Income Tax, net of Federal Benefit | 2.3 | % | 1.4 | % | 2.7 | % | 3.2 | % | 1.3 | % | 0.7 | % | 4.7 | % | (0.8) | % | State Income Tax, net of Federal Benefit | 0.6 | % | 0.3 | % | 3.0 | % | (0.3) | % | 1.9 | % | 1.2 | % | 5.0 | % | (6.9) | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Tax Reform Excess ADIT Reversal | Tax Reform Excess ADIT Reversal | (9.2) | % | (7.8) | % | 0.3 | % | (18.0) | % | (17.9) | % | (9.7) | % | (24.7) | % | (5.9) | % | Tax Reform Excess ADIT Reversal | (8.5) | % | (6.3) | % | 0.3 | % | (14.2) | % | (16.1) | % | (8.9) | % | (19.8) | % | (4.2) | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Production and Investment Tax Credits | Production and Investment Tax Credits | (5.5) | % | (0.3) | % | 0 | % | 0 | % | (1.7) | % | 0 | % | (8.2) | % | (5.1) | % | Production and Investment Tax Credits | (4.7) | % | (0.3) | % | — | % | (0.2) | % | (2.0) | % | — | % | (8.9) | % | (5.4) | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Flow Through | Flow Through | 0.3 | % | 0.3 | % | 0.2 | % | 1.6 | % | (1.0) | % | 1.1 | % | 0.6 | % | (0.7) | % | Flow Through | — | % | 0.3 | % | 0.3 | % | 0.4 | % | (2.8) | % | 0.6 | % | 0.7 | % | (0.2) | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
AFUDC Equity | AFUDC Equity | (0.9) | % | (1.4) | % | (1.7) | % | (1.1) | % | (0.2) | % | (1.1) | % | (0.5) | % | (0.4) | % | AFUDC Equity | (1.2) | % | (1.0) | % | (2.2) | % | (1.8) | % | (1.0) | % | (0.3) | % | (0.2) | % | (0.5) | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Parent Company Loss Benefit | Parent Company Loss Benefit | 0 | % | 0 | % | (1.9) | % | (2.9) | % | (2.5) | % | 0 | % | 0 | % | 0 | % | Parent Company Loss Benefit | — | % | (1.1) | % | (2.3) | % | (1.2) | % | (3.6) | % | — | % | — | % | 0.7 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Discrete Tax Adjustments | Discrete Tax Adjustments | 0.5 | % | 0 | % | 0 | % | 0 | % | 0 | % | (4.0) | % | 0 | % | 0 | % | Discrete Tax Adjustments | 0.2 | % | — | % | — | % | — | % | — | % | — | % | — | % | 1.2 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other | Other | 0.1 | % | 0.1 | % | 0.1 | % | 0.1 | % | 0 | % | 0.2 | % | (0.9) | % | 0.1 | % | Other | 0.7 | % | (0.1) | % | 0.1 | % | 0.3 | % | 0.8 | % | — | % | (0.1) | % | (0.2) | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Effective Income Tax Rate | Effective Income Tax Rate | 8.6 | % | 13.3 | % | 20.7 | % | 3.9 | % | (1.0) | % | 8.2 | % | (8.0) | % | 8.2 | % | Effective Income Tax Rate | 8.1 | % | 12.8 | % | 20.2 | % | 4.0 | % | (1.8) | % | 13.6 | % | (2.3) | % | 5.5 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Three Months Ended September 30, 2020 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
AEP | AEP Texas | AEPTCo | APCo | I&M | OPCo | PSO | SWEPCo | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
U.S. Federal Statutory Rate | 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: | Increase (decrease) due to: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
State Income Tax, net of Federal Benefit | State Income Tax, net of Federal Benefit | 2.7 | % | 2.0 | % | 2.9 | % | 3.1 | % | 3.4 | % | 0.8 | % | 4.6 | % | 2.4 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Tax Reform Excess ADIT Reversal | Tax Reform Excess ADIT Reversal | (11.0) | % | (14.6) | % | 0.4 | % | (22.0) | % | (16.7) | % | (6.7) | % | (20.3) | % | (7.3) | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Production and Investment Tax Credits | Production and Investment Tax Credits | (4.6) | % | (0.5) | % | — | % | — | % | (1.6) | % | — | % | (1.1) | % | (0.5) | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Flow Through | Flow Through | 0.5 | % | 0.2 | % | 0.5 | % | 1.6 | % | 0.2 | % | 0.9 | % | 0.2 | % | (1.2) | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
AFUDC Equity | AFUDC Equity | (1.5) | % | (3.5) | % | (2.6) | % | (1.1) | % | (0.9) | % | (0.9) | % | (0.6) | % | (0.3) | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Parent Company Loss Benefit | Parent Company Loss Benefit | — | % | — | % | (0.9) | % | (3.1) | % | (3.7) | % | (0.3) | % | (1.7) | % | (2.0) | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Discrete Tax Adjustments (a) | Discrete Tax Adjustments (a) | (7.4) | % | (3.6) | % | (0.2) | % | (6.6) | % | 2.3 | % | 8.4 | % | (0.6) | % | (0.6) | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other | Other | 0.1 | % | 0.3 | % | 0.1 | % | — | % | — | % | 0.3 | % | 0.1 | % | (0.6) | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Effective Income Tax Rate | Effective Income Tax Rate | (0.2) | % | 1.3 | % | 21.2 | % | (7.1) | % | 4.0 | % | 23.5 | % | 1.6 | % | 10.9 | % |
Three Months Ended March 31, 2020 | ||||||||||||||||||||||||||||||||||||||||||||||||||
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 | 2.5 | % | 1.5 | % | 2.9 | % | 3.0 | % | 3.2 | % | 0.7 | % | 4.6 | % | 2.7 | % | ||||||||||||||||||||||||||||||||||
Tax Reform Excess ADIT Reversal | (9.4) | % | (6.2) | % | 0.4 | % | (13.0) | % | (19.6) | % | (10.2) | % | (23.1) | % | (94.7) | % | ||||||||||||||||||||||||||||||||||
Production and Investment Tax Credits | (4.3) | % | (0.4) | % | 0 | % | 0 | % | (1.9) | % | 0 | % | (1.3) | % | (0.5) | % | ||||||||||||||||||||||||||||||||||
Flow Through | 0.5 | % | 0.1 | % | 0.5 | % | 1.5 | % | 0.2 | % | 1.0 | % | 0.6 | % | (1.0) | % | ||||||||||||||||||||||||||||||||||
AFUDC Equity | (1.4) | % | (2.6) | % | (2.6) | % | (1.0) | % | (1.1) | % | (1.0) | % | (0.7) | % | (0.4) | % | ||||||||||||||||||||||||||||||||||
Parent Company Loss Benefit | 0 | % | (0.2) | % | (0.9) | % | (3.3) | % | (3.9) | % | (0.1) | % | (2.2) | % | (2.4) | % | ||||||||||||||||||||||||||||||||||
Discrete Tax Adjustments | 0 | % | 0 | % | 0 | % | 0 | % | 2.7 | % | 0 | % | 0 | % | 0 | % | ||||||||||||||||||||||||||||||||||
Other | (0.4) | % | 0.3 | % | 0 | % | 0.1 | % | (0.2) | % | 0 | % | 0.1 | % | 7.2 | % | ||||||||||||||||||||||||||||||||||
Effective Income Tax Rate | 8.5 | % | 13.5 | % | 21.3 | % | 8.3 | % | 0.4 | % | 11.4 | % | (1.0) | % | (68.1) | % |
Nine Months Ended September 30, 2021 | ||||||||||||||||||||||||||||||||||||||||||||||||||
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 | 1.2 | % | 0.3 | % | 2.8 | % | 1.5 | % | 1.6 | % | 0.8 | % | 4.8 | % | (3.4) | % | ||||||||||||||||||||||||||||||||||
Tax Reform Excess ADIT Reversal | (8.9) | % | (7.2) | % | 0.3 | % | (15.2) | % | (17.7) | % | (9.1) | % | (19.8) | % | (4.3) | % | ||||||||||||||||||||||||||||||||||
Production and Investment Tax Credits | (4.9) | % | (0.3) | % | — | % | — | % | (2.2) | % | — | % | (8.1) | % | (4.6) | % | ||||||||||||||||||||||||||||||||||
Flow Through | 0.2 | % | 0.3 | % | 0.3 | % | 1.7 | % | (3.0) | % | 0.9 | % | 0.7 | % | (0.2) | % | ||||||||||||||||||||||||||||||||||
AFUDC Equity | (1.1) | % | (1.1) | % | (1.9) | % | (1.2) | % | (1.0) | % | (0.8) | % | (0.3) | % | (0.6) | % | ||||||||||||||||||||||||||||||||||
Parent Company Loss Benefit | — | % | (0.7) | % | (1.9) | % | (1.3) | % | (2.8) | % | — | % | — | % | — | % | ||||||||||||||||||||||||||||||||||
Discrete Tax Adjustments | 1.1 | % | — | % | — | % | — | % | — | % | (1.3) | % | (0.9) | % | 0.6 | % | ||||||||||||||||||||||||||||||||||
Other | 0.1 | % | — | % | — | % | 0.1 | % | 0.4 | % | 0.2 | % | (0.2) | % | (0.1) | % | ||||||||||||||||||||||||||||||||||
Effective Income Tax Rate | 8.7 | % | 12.3 | % | 20.6 | % | 6.6 | % | (3.7) | % | 11.7 | % | (2.8) | % | 8.4 | % |
Nine Months Ended September 30, 2020 | ||||||||||||||||||||||||||||||||||||||||||||||||||
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 | 2.6 | % | 1.8 | % | 2.9 | % | 3.1 | % | 3.4 | % | 0.7 | % | 4.6 | % | 2.3 | % | ||||||||||||||||||||||||||||||||||
Tax Reform Excess ADIT Reversal | (12.1) | % | (23.4) | % | 0.4 | % | (20.8) | % | (16.7) | % | (8.8) | % | (20.3) | % | (11.5) | % | ||||||||||||||||||||||||||||||||||
Production and Investment Tax Credits | (4.5) | % | (0.5) | % | — | % | — | % | (1.6) | % | — | % | (1.1) | % | (0.5) | % | ||||||||||||||||||||||||||||||||||
Flow Through | 0.5 | % | 0.1 | % | 0.5 | % | 1.6 | % | 0.2 | % | 0.9 | % | 0.2 | % | (1.2) | % | ||||||||||||||||||||||||||||||||||
AFUDC Equity | (1.5) | % | (3.2) | % | (2.6) | % | (1.1) | % | (0.9) | % | (0.9) | % | (0.6) | % | (0.3) | % | ||||||||||||||||||||||||||||||||||
Parent Company Loss Benefit | — | % | — | % | (0.9) | % | (3.1) | % | (3.7) | % | (0.3) | % | (1.7) | % | (1.9) | % | ||||||||||||||||||||||||||||||||||
Discrete Tax Adjustments (a) | (3.0) | % | (1.6) | % | (0.1) | % | (2.3) | % | 1.8 | % | 2.6 | % | (0.4) | % | (0.3) | % | ||||||||||||||||||||||||||||||||||
Other | 0.2 | % | 0.4 | % | (0.1) | % | (0.1) | % | (0.1) | % | 0.2 | % | 0.1 | % | (0.4) | % | ||||||||||||||||||||||||||||||||||
Effective Income Tax Rate | 3.2 | % | (5.4) | % | 21.1 | % | (1.7) | % | 3.4 | % | 15.4 | % | 1.8 | % | 7.2 | % |
Type of Debt | Type of Debt | March 31, 2021 | December 31, 2020 | Type of Debt | September 30, 2021 | December 31, 2020 | ||||||||||||||||||||||
(in millions) | (in millions) | |||||||||||||||||||||||||||
Senior Unsecured Notes | Senior Unsecured Notes | $ | 25,919.8 | $ | 25,116.1 | Senior Unsecured Notes | $ | 28,778.1 | $ | 25,116.1 | ||||||||||||||||||
Pollution Control Bonds | Pollution Control Bonds | 1,937.0 | 1,936.7 | Pollution Control Bonds | 1,881.0 | 1,936.7 | ||||||||||||||||||||||
Notes Payable | Notes Payable | 213.9 | 239.1 | Notes Payable | 235.1 | 239.1 | ||||||||||||||||||||||
Securitization Bonds | Securitization Bonds | 693.0 | 716.4 | Securitization Bonds | 639.7 | 716.4 | ||||||||||||||||||||||
Spent Nuclear Fuel Obligation (a) | Spent Nuclear Fuel Obligation (a) | 281.2 | 281.2 | Spent Nuclear Fuel Obligation (a) | 281.3 | 281.2 | ||||||||||||||||||||||
Junior Subordinated Notes (b) | Junior Subordinated Notes (b) | 1,626.0 | 1,624.1 | Junior Subordinated Notes (b) | 1,629.9 | 1,624.1 | ||||||||||||||||||||||
Other Long-term Debt | Other Long-term Debt | 1,674.1 | 1,158.9 | Other Long-term Debt | 1,133.2 | 1,158.9 | ||||||||||||||||||||||
Total Long-term Debt Outstanding | Total Long-term Debt Outstanding | 32,345.0 | 31,072.5 | Total Long-term Debt Outstanding | 34,578.3 | 31,072.5 | ||||||||||||||||||||||
Long-term Debt Due Within One Year | Long-term Debt Due Within One Year | 2,130.2 | 2,086.1 | Long-term Debt Due Within One Year | 2,521.8 | 2,086.1 | ||||||||||||||||||||||
Long-term Debt | Long-term Debt | $ | 30,214.8 | $ | 28,986.4 | Long-term Debt | $ | 32,056.5 | $ | 28,986.4 |
Principal | Interest | Principal | Interest | |||||||||||||||||||||||||||||||||||||||||||||||||
Company | Company | Type of Debt | Amount (a) | Rate | Due Date | Company | Type of Debt | Amount (a) | Rate | Due Date | ||||||||||||||||||||||||||||||||||||||||||
Issuances: | Issuances: | (in millions) | (%) | Issuances: | (in millions) | (%) | ||||||||||||||||||||||||||||||||||||||||||||||
AEP | AEP | Senior Unsecured Notes | $ | 175.0 | 1.80 | 2028 | ||||||||||||||||||||||||||||||||||||||||||||||
AEP Texas | AEP Texas | Senior Unsecured Notes | 450.0 | 3.45 | 2051 | |||||||||||||||||||||||||||||||||||||||||||||||
AEPTCo | AEPTCo | Senior Unsecured Notes | 450.0 | 2.75 | 2051 | |||||||||||||||||||||||||||||||||||||||||||||||
APCo | APCo | Senior Unsecured Notes | $ | 500.0 | 2.70 | 2031 | APCo | Senior Unsecured Notes | 500.0 | 2.70 | 2031 | |||||||||||||||||||||||||||||||||||||||||
I&M | I&M | Notes Payable | 64.9 | 0.93 | 2025 | |||||||||||||||||||||||||||||||||||||||||||||||
I&M | I&M | Senior Unsecured Notes | 450.0 | 3.25 | 2051 | |||||||||||||||||||||||||||||||||||||||||||||||
OPCo | OPCo | Senior Unsecured Notes | 450.0 | 1.63 | 2031 | OPCo | Senior Unsecured Notes | 450.0 | 1.63 | 2031 | ||||||||||||||||||||||||||||||||||||||||||
OPCo | OPCo | Senior Unsecured Notes | 600.0 | 2.90 | 2051 | |||||||||||||||||||||||||||||||||||||||||||||||
PSO | PSO | Other Long-term Debt | 500.0 | Variable | 2022 | |||||||||||||||||||||||||||||||||||||||||||||||
PSO | PSO | Senior Unsecured Notes | 400.0 | 2.20 | 2031 | |||||||||||||||||||||||||||||||||||||||||||||||
PSO | PSO | Other Long-term Debt | 500.0 | Variable | 2022 | PSO | Senior Unsecured Notes | 400.0 | 3.15 | 2051 | ||||||||||||||||||||||||||||||||||||||||||
SWEPCo | SWEPCo | Senior Unsecured Notes | 500.0 | 1.65 | 2026 | SWEPCo | Senior Unsecured Notes | 500.0 | 1.65 | 2026 | ||||||||||||||||||||||||||||||||||||||||||
Non-Registrant: | Non-Registrant: | Non-Registrant: | ||||||||||||||||||||||||||||||||||||||||||||||||||
KPCo | KPCo | Other Long-term Debt | 150.0 | Variable | 2023 | |||||||||||||||||||||||||||||||||||||||||||||||
Transource Energy | Transource Energy | Other Long-term Debt | 14.6 | Variable | 2023 | Transource Energy | Other Long-term Debt | 25.9 | Variable | 2023 | ||||||||||||||||||||||||||||||||||||||||||
Total Issuances | Total Issuances | $ | 1,964.6 | Total Issuances | $ | 5,115.8 |
Principal | Interest | Principal | Interest | |||||||||||||||||||||||||||||||||||||||||||||||||
Company | Company | Type of Debt | Amount Paid | Rate | Due Date | Company | Type of Debt | Amount Paid | Rate | Due Date | ||||||||||||||||||||||||||||||||||||||||||
Retirements and Principal Payments: | Retirements and Principal Payments: | (in millions) | (%) | Retirements and Principal Payments: | (in millions) | (%) | ||||||||||||||||||||||||||||||||||||||||||||||
AEP Texas | AEP Texas | Securitization Bonds | $ | 11.2 | 2.06 | 2025 | AEP Texas | Securitization Bonds | $ | 29.7 | 2.85 | 2024 | ||||||||||||||||||||||||||||||||||||||||
AEP Texas | AEP Texas | Securitization Bonds | 22.5 | 2.06 | 2025 | |||||||||||||||||||||||||||||||||||||||||||||||
APCo | APCo | Senior Unsecured Notes | 350.0 | 4.60 | 2021 | APCo | Senior Unsecured Notes | 350.0 | 4.60 | 2021 | ||||||||||||||||||||||||||||||||||||||||||
APCo | APCo | Securitization Bonds | 12.5 | 2.01 | 2023 | APCo | Pollution Control Bonds | 17.5 | 4.63 | 2021 | ||||||||||||||||||||||||||||||||||||||||||
APCo | APCo | Securitization Bonds | 25.4 | 2.01 | 2023 | |||||||||||||||||||||||||||||||||||||||||||||||
APCo | APCo | Other Long-term Debt | 0.1 | 13.72 | 2026 | |||||||||||||||||||||||||||||||||||||||||||||||
I&M | I&M | Notes Payable | 1.5 | Variable | 2021 | I&M | Other Long-term Debt | 200.0 | Variable | 2021 | ||||||||||||||||||||||||||||||||||||||||||
I&M | I&M | Notes Payable | 1.5 | Variable | 2022 | I&M | Pollution Control Bonds | 40.0 | 2.05 | 2021 | ||||||||||||||||||||||||||||||||||||||||||
I&M | I&M | Notes Payable | 3.4 | Variable | 2022 | I&M | Notes Payable | 1.9 | Variable | 2021 | ||||||||||||||||||||||||||||||||||||||||||
I&M | I&M | Notes Payable | 4.8 | Variable | 2023 | I&M | Notes Payable | 4.5 | Variable | 2022 | ||||||||||||||||||||||||||||||||||||||||||
I&M | I&M | Notes Payable | 5.9 | Variable | 2024 | I&M | Notes Payable | 5.4 | Variable | 2022 | ||||||||||||||||||||||||||||||||||||||||||
I&M | I&M | Notes Payable | 6.5 | Variable | 2025 | I&M | Notes Payable | 14.3 | Variable | 2023 | ||||||||||||||||||||||||||||||||||||||||||
I&M | I&M | Other Long-term Debt | 0.5 | 6.00 | 2025 | I&M | Notes Payable | 12.6 | Variable | 2024 | ||||||||||||||||||||||||||||||||||||||||||
I&M | I&M | Notes Payable | 19.6 | Variable | 2025 | |||||||||||||||||||||||||||||||||||||||||||||||
I&M | I&M | Notes Payable | 7.4 | 0.93 | 2025 | |||||||||||||||||||||||||||||||||||||||||||||||
I&M | I&M | Other Long-term Debt | 1.5 | 6.00 | 2025 | |||||||||||||||||||||||||||||||||||||||||||||||
OPCo | OPCo | Other Long-term Debt | 0.1 | 1.15 | 2028 | |||||||||||||||||||||||||||||||||||||||||||||||
PSO | PSO | Senior Unsecured Notes | 250.0 | 4.40 | 2021 | PSO | Senior Unsecured Notes | 250.0 | 4.40 | 2021 | ||||||||||||||||||||||||||||||||||||||||||
PSO | PSO | Other Long-term Debt | 0.1 | 3.00 | 2027 | PSO | Other Long-term Debt | 500.0 | Variable | 2022 | ||||||||||||||||||||||||||||||||||||||||||
PSO | PSO | Other Long-term Debt | 0.4 | 3.00 | 2027 | |||||||||||||||||||||||||||||||||||||||||||||||
SWEPCo | SWEPCo | Other Long-term Debt | 1.5 | 4.68 | 2028 | |||||||||||||||||||||||||||||||||||||||||||||||
SWEPCo | SWEPCo | Notes Payable | 1.6 | 4.58 | 2032 | SWEPCo | Notes Payable | 3.2 | 4.58 | 2032 | ||||||||||||||||||||||||||||||||||||||||||
Non-Registrant: | Non-Registrant: | Non-Registrant: | ||||||||||||||||||||||||||||||||||||||||||||||||||
KPCo | KPCo | Senior Unsecured Notes | 39.8 | 7.25 | 2021 | |||||||||||||||||||||||||||||||||||||||||||||||
Transource Energy | Transource Energy | Senior Unsecured Notes | 1.2 | 2.75 | 2050 | |||||||||||||||||||||||||||||||||||||||||||||||
Transource Energy | Transource Energy | Senior Unsecured Notes | 1.2 | 2.75 | 2050 | Transource Energy | Senior Unsecured Notes | 1.2 | 2.75 | 2050 | ||||||||||||||||||||||||||||||||||||||||||
Total Retirements and Principal Payments | Total Retirements and Principal Payments | $ | 650.7 | Total Retirements and Principal Payments | $ | 1,549.8 |
Maximum | Average | Net Loans to | Maximum | Average | Net Loans to | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Borrowings | Maximum | Borrowings | Average | (Borrowings) from | Authorized | Borrowings | Maximum | Borrowings | Average | (Borrowings) from | Authorized | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
from the | Loans to the | from the | Loans to the | the Utility Money | Short-term | from the | Loans to the | from the | Loans to the | the Utility Money | Short-term | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Utility | Utility | Utility | Utility | Pool as of | Borrowing | Utility | Utility | Utility | Utility | Pool as of | Borrowing | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Company | Company | Money Pool | Money Pool | Money Pool | Money Pool | March 31, 2021 | Limit | Company | Money Pool | Money Pool | Money Pool | Money Pool | September 30, 2021 | Limit | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(in millions) | (in millions) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
AEP Texas | AEP Texas | $ | 295.5 | $ | 0 | $ | 197.8 | $ | 0 | $ | (284.0) | $ | 500.0 | AEP Texas | $ | 355.5 | $ | 104.7 | $ | 234.7 | $ | 45.2 | $ | 47.6 | $ | 500.0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
AEPTCo | AEPTCo | 330.6 | 3.5 | 230.1 | 1.6 | (227.8) | 820.0 | (a) | AEPTCo | 444.9 | 117.3 | 225.1 | 24.4 | 73.9 | 820.0 | (a) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
APCo | APCo | 27.8 | 616.9 | 13.2 | 152.4 | 261.1 | 500.0 | APCo | 27.8 | 616.9 | 13.2 | 134.4 | 185.2 | 500.0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
I&M | I&M | 166.5 | 13.3 | 118.2 | 13.3 | (111.3) | 500.0 | I&M | 166.5 | 368.2 | 117.5 | 76.3 | 80.6 | 500.0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
OPCo | OPCo | 259.2 | 222.4 | 175.1 | 107.4 | 0.5 | 500.0 | OPCo | 259.2 | 622.9 | 62.8 | 182.5 | 622.9 | 500.0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
PSO | PSO | 262.0 | 210.1 | 130.3 | 122.0 | (245.7) | 300.0 | PSO | 267.7 | 747.3 | 142.8 | 184.9 | 59.5 | 300.0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
SWEPCo | SWEPCo | 280.3 | 156.4 | 169.3 | 142.0 | (86.9) | 350.0 | SWEPCo | 280.3 | 156.4 | 148.0 | 142.0 | (122.9) | 350.0 |
Maximum Loans | Average Loans | Loans to the Nonutility | Maximum Loans | Average Loans | Loans to the Nonutility | |||||||||||||||||||||||||||||||||||
to the Nonutility | to the Nonutility | Money Pool as of | to the Nonutility | to the Nonutility | Money Pool as of | |||||||||||||||||||||||||||||||||||
Company | Company | Money Pool | Money Pool | March 31, 2021 | Company | Money Pool | Money Pool | September 30, 2021 | ||||||||||||||||||||||||||||||||
(in millions) | (in millions) | |||||||||||||||||||||||||||||||||||||||
AEP Texas | AEP Texas | $ | 7.1 | $ | 6.9 | $ | 6.8 | AEP Texas | $ | 7.1 | $ | 6.9 | $ | 7.0 | ||||||||||||||||||||||||||
SWEPCo | SWEPCo | 2.1 | 2.1 | 2.1 | SWEPCo | 2.1 | 2.1 | 2.1 |
Maximum | Maximum | Maximum | Average | Average | Borrowings from | Loans to | Authorized | Maximum | Maximum | Average | Average | Borrowings from | Loans to | Authorized | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Borrowings | Borrowings | Loans | Borrowings | Loans | AEP as of | AEP as of | Short-term | Borrowings | Loans | Borrowings | Loans | AEP as of | AEP as of | Short-term | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
from AEP | from AEP | to AEP | from AEP | to AEP | March 31, 2021 | March 31, 2021 | Borrowing Limit | from AEP | to AEP | from AEP | to AEP | September 30, 2021 | September 30, 2021 | Borrowing Limit | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(in millions) | (in millions) | (in millions) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
$ | 1.2 | $ | 220.6 | $ | 1.2 | $ | 148.7 | $ | 1.2 | $ | 105.8 | $ | 50.0 | (a) | 14.6 | $ | 224.2 | $ | 1.6 | $ | 139.3 | $ | 8.6 | $ | — | $ | 50.0 | (a) |
Three Months Ended March 31, | Nine Months Ended September 30, | |||||||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | |||||||||||||||||||||||||
Maximum Interest Rate | Maximum Interest Rate | 0.40 | % | 2.24 | % | Maximum Interest Rate | 0.40 | % | 2.70 | % | ||||||||||||||||||
Minimum Interest Rate | Minimum Interest Rate | 0.25 | % | 1.76 | % | Minimum Interest Rate | 0.02 | % | 0.33 | % |
Average Interest Rate for Funds | Average Interest Rate for Funds | Average Interest Rate for Funds | Average Interest Rate for Funds | |||||||||||||||||||||||||||||||||||||||||||||||||
Borrowed from the Utility Money Pool | Loaned to the Utility Money Pool | Borrowed from the Utility Money Pool | Loaned to the Utility Money Pool | |||||||||||||||||||||||||||||||||||||||||||||||||
for Three Months Ended March 31, | for Three Months Ended March 31, | for Nine Months Ended September 30, | for Nine Months Ended September 30, | |||||||||||||||||||||||||||||||||||||||||||||||||
Company | Company | 2021 | 2020 | 2021 | 2020 | Company | 2021 | 2020 | 2021 | 2020 | ||||||||||||||||||||||||||||||||||||||||||
AEP Texas | AEP Texas | 0.31 | % | 2.05 | % | 0 | % | 1.97 | % | AEP Texas | 0.33 | % | 1.55 | % | 0.27 | % | 0.87 | % | ||||||||||||||||||||||||||||||||||
AEPTCo | AEPTCo | 0.31 | % | 1.95 | % | 0.28 | % | 1.91 | % | AEPTCo | 0.32 | % | 1.63 | % | 0.07 | % | 2.00 | % | ||||||||||||||||||||||||||||||||||
APCo | APCo | 0.28 | % | 1.95 | % | 0.36 | % | 1.94 | % | APCo | 0.28 | % | 2.14 | % | 0.28 | % | 0.99 | % | ||||||||||||||||||||||||||||||||||
I&M | I&M | 0.31 | % | 1.95 | % | 0.30 | % | 1.94 | % | I&M | 0.32 | % | 1.30 | % | 0.25 | % | 1.44 | % | ||||||||||||||||||||||||||||||||||
OPCo | OPCo | 0.29 | % | 1.90 | % | 0.29 | % | 2.06 | % | OPCo | 0.27 | % | 1.32 | % | 0.15 | % | 2.06 | % | ||||||||||||||||||||||||||||||||||
PSO | PSO | 0.33 | % | 2.00 | % | 0.28 | % | 1.95 | % | PSO | 0.34 | % | 1.24 | % | 0.06 | % | 1.95 | % | ||||||||||||||||||||||||||||||||||
SWEPCo | SWEPCo | 0.28 | % | 1.95 | % | 0.38 | % | 0 | % | SWEPCo | 0.28 | % | 1.55 | % | 0.38 | % | — | % |
Three Months Ended March 31, 2021 | Three Months Ended March 31, 2020 | Nine Months Ended September 30, 2021 | Nine Months Ended September 30, 2020 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maximum | Minimum | Average | Maximum | Minimum | Average | Maximum | Minimum | Average | Maximum | Minimum | Average | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | Interest Rate | Interest Rate | Interest Rate | Interest Rate | Interest Rate | Interest Rate | Interest Rate | Interest Rate | Interest Rate | Interest Rate | Interest Rate | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
for Funds | for Funds | for Funds | for Funds | for Funds | for Funds | for Funds | for Funds | for Funds | for Funds | for Funds | for Funds | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loaned to | Loaned to | Loaned to | Loaned to | Loaned to | Loaned to | Loaned to | Loaned to | Loaned to | Loaned to | Loaned to | Loaned to | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
the Nonutility | the Nonutility | the Nonutility | the Nonutility | the Nonutility | the Nonutility | the Nonutility | the Nonutility | the Nonutility | the Nonutility | the Nonutility | the Nonutility | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Company | Company | Money Pool | Money Pool | Money Pool | Money Pool | Money Pool | Money Pool | Company | Money Pool | Money Pool | Money Pool | Money Pool | Money Pool | Money Pool | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
AEP Texas | AEP Texas | 0.40 | % | 0.25 | % | 0.30 | % | 2.24 | % | 1.76 | % | 1.94 | % | AEP Texas | 0.41 | % | 0.21 | % | 0.34 | % | 2.70 | % | 0.33 | % | 1.44 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||
SWEPCo | SWEPCo | 0.40 | % | 0.25 | % | 0.30 | % | 2.24 | % | 1.76 | % | 1.94 | % | SWEPCo | 0.41 | % | 0.21 | % | 0.34 | % | 2.70 | % | 0.33 | % | 1.44 | % |
Maximum | Minimum | Maximum | Minimum | Average | Average | Maximum | Minimum | Maximum | Minimum | Average | Average | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | Interest Rate | Interest Rate | Interest Rate | Interest Rate | Interest Rate | Interest Rate | Interest Rate | Interest Rate | Interest Rate | Interest Rate | Interest Rate | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Three Months | for Funds | for Funds | for Funds | for Funds | for Funds | for Funds | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Nine Months | Nine Months | for Funds | for Funds | for Funds | for Funds | for Funds | for Funds | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Ended | Ended | Borrowed | Borrowed | Loaned | Loaned | Borrowed | Loaned | Ended | Borrowed | Borrowed | Loaned | Loaned | Borrowed | Loaned | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
March 31, | from AEP | from AEP | to AEP | to AEP | from AEP | to AEP | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
September 30, | September 30, | from AEP | from AEP | to AEP | to AEP | from AEP | to AEP | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2021 | 2021 | 0.86 | % | 0.25 | % | 0.86 | % | 0.25 | % | 0.31 | % | 0.31 | % | 2021 | 0.86 | % | 0.25 | % | 0.86 | % | 0.25 | % | 0.35 | % | 0.34 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||
2020 | 2020 | 2.24 | % | 1.76 | % | 2.24 | % | 1.76 | % | 1.94 | % | 1.94 | % | 2020 | 2.70 | % | 0.50 | % | 2.70 | % | 0.50 | % | 1.45 | % | 1.40 | % |
March 31, 2021 | December 31, 2020 | September 30, 2021 | December 31, 2020 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Outstanding | Interest | Outstanding | Interest | Outstanding | Interest | Outstanding | Interest | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Company | Company | Type of Debt | Amount | Rate (a) | Amount | Rate (a) | Company | Type of Debt | Amount | Rate (a) | Amount | Rate (a) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
(dollars in millions) | (dollars in millions) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
AEP | AEP | Securitized Debt for Receivables (b) | $ | 669.0 | 0.20 | % | $ | 592.0 | 0.85 | % | AEP | Securitized Debt for Receivables (b) | $ | 750.0 | 0.19 | % | $ | 592.0 | 0.85 | % | ||||||||||||||||||||||||||||||||||||||||||||
AEP | AEP | Commercial Paper | 1,874.4 | 0.27 | % | 1,852.3 | 0.29 | % | AEP | Commercial Paper | 1,254.0 | 0.25 | % | 1,852.3 | 0.29 | % | ||||||||||||||||||||||||||||||||||||||||||||||||
AEP | AEP | 364-Day Term Loan | 500.0 | 0.71 | % | 0 | 0 | % | AEP | 364-Day Term Loan | 500.0 | 0.72 | % | — | — | % | ||||||||||||||||||||||||||||||||||||||||||||||||
SWEPCo | SWEPCo | Notes Payable | 5.0 | 2.75 | % | 35.0 | 2.55 | % | SWEPCo | Notes Payable | — | — | % | 35.0 | 2.55 | % | ||||||||||||||||||||||||||||||||||||||||||||||||
Total Short-term Debt | $ | 3,048.4 | $ | 2,479.3 | Total Short-term Debt | $ | 2,504.0 | $ | 2,479.3 |
Three Months Ended | Nine Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||
Three Months Ended March 31, | September 30, | September 30, | ||||||||||||||||||||||||||||||||||||||||||||||||||
2021 | 2020 | 2021 | 2020 | 2021 | 2020 | |||||||||||||||||||||||||||||||||||||||||||||||
(dollars in millions) | (dollars in millions) | |||||||||||||||||||||||||||||||||||||||||||||||||||
Effective Interest Rates on Securitization of Accounts Receivable | Effective Interest Rates on Securitization of Accounts Receivable | 0.20 | % | 1.75 | % | Effective Interest Rates on Securitization of Accounts Receivable | 0.18 | % | 0.36 | % | 0.19 | % | 1.05 | % | ||||||||||||||||||||||||||||||||||||||
Net Uncollectible Accounts Receivable Written-Off | Net Uncollectible Accounts Receivable Written-Off | $ | 9.3 | $ | 4.2 | Net Uncollectible Accounts Receivable Written-Off | $ | 7.5 | $ | 2.9 | $ | 22.6 | $ | 10.5 |
March 31, 2021 | December 31, 2020 | September 30, 2021 | December 31, 2020 | |||||||||||||||||||||||||
(in millions) | (in millions) | |||||||||||||||||||||||||||
Accounts Receivable Retained Interest and Pledged as Collateral Less Uncollectible Accounts | Accounts Receivable Retained Interest and Pledged as Collateral Less Uncollectible Accounts | $ | 871.4 | $ | 958.4 | Accounts Receivable Retained Interest and Pledged as Collateral Less Uncollectible Accounts | $ | 1,031.3 | $ | 958.4 | ||||||||||||||||||
Short-term – Securitized Debt of Receivables | Short-term – Securitized Debt of Receivables | 669.0 | 592.0 | Short-term – Securitized Debt of Receivables | 750.0 | 592.0 | ||||||||||||||||||||||
Delinquent Securitized Accounts Receivable | Delinquent Securitized Accounts Receivable | 67.7 | 62.3 | Delinquent Securitized Accounts Receivable | 60.0 | 62.3 | ||||||||||||||||||||||
Bad Debt Reserves Related to Securitization | Bad Debt Reserves Related to Securitization | 47.6 | 60.0 | Bad Debt Reserves Related to Securitization | 39.8 | 60.0 | ||||||||||||||||||||||
Unbilled Receivables Related to Securitization | Unbilled Receivables Related to Securitization | 211.2 | 296.8 | Unbilled Receivables Related to Securitization | 224.5 | 296.8 |
Company | Company | March 31, 2021 | December 31, 2020 | Company | September 30, 2021 | December 31, 2020 | ||||||||||||||||||||||
(in millions) | (in millions) | |||||||||||||||||||||||||||
APCo | APCo | $ | 132.6 | $ | 136.0 | APCo | $ | 131.0 | $ | 136.0 | ||||||||||||||||||
I&M | I&M | 154.0 | 170.5 | I&M | 173.9 | 170.5 | ||||||||||||||||||||||
OPCo | OPCo | 360.2 | 398.8 | OPCo | 377.3 | 398.8 | ||||||||||||||||||||||
PSO | PSO | 76.2 | 85.0 | PSO | 147.1 | 85.0 | ||||||||||||||||||||||
SWEPCo | SWEPCo | 132.9 | 158.6 | SWEPCo | 185.6 | 158.6 |
Three Months Ended March 31, | Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||||||||||||||||||||||||||||||||||||
Company | Company | 2021 | 2020 | Company | 2021 (a) | 2020 | 2021 (a) | 2020 | ||||||||||||||||||||||||||||||||||||||||||||
(in millions) | (in millions) | |||||||||||||||||||||||||||||||||||||||||||||||||||
APCo | APCo | $ | 1.2 | $ | 1.7 | APCo | $ | 1.3 | $ | 2.0 | $ | 3.7 | $ | 5.0 | ||||||||||||||||||||||||||||||||||||||
I&M | I&M | 1.6 | 2.8 | I&M | 2.1 | 3.9 | 5.3 | 9.3 | ||||||||||||||||||||||||||||||||||||||||||||
OPCo | OPCo | 1.3 | 4.8 | OPCo | 4.6 | 9.8 | 3.5 | 19.6 | ||||||||||||||||||||||||||||||||||||||||||||
PSO | PSO | 0.7 | 1.3 | PSO | 1.1 | 1.5 | 2.4 | 3.8 | ||||||||||||||||||||||||||||||||||||||||||||
SWEPCo | SWEPCo | 1.5 | 2.1 | SWEPCo | 1.3 | 2.8 | 4.1 | 6.8 |
Three Months Ended March 31, | Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||||||||||||||||||||||||||||||||||||
Company | Company | 2021 | 2020 | Company | 2021 | 2020 | 2021 | 2020 | ||||||||||||||||||||||||||||||||||||||||||||
(in millions) | (in millions) | |||||||||||||||||||||||||||||||||||||||||||||||||||
APCo | APCo | $ | 362.4 | $ | 352.6 | APCo | $ | 342.2 | $ | 323.5 | $ | 980.6 | $ | 961.8 | ||||||||||||||||||||||||||||||||||||||
I&M | I&M | 478.8 | 471.4 | I&M | 536.8 | 532.3 | 1,478.9 | 1,443.6 | ||||||||||||||||||||||||||||||||||||||||||||
OPCo | OPCo | 601.3 | 570.3 | OPCo | 668.4 | 666.0 | 1,867.5 | 1,793.0 | ||||||||||||||||||||||||||||||||||||||||||||
PSO | PSO | 284.9 | 294.9 | PSO | 460.1 | 369.2 | 1,068.8 | 961.4 | ||||||||||||||||||||||||||||||||||||||||||||
SWEPCo | SWEPCo | 384.4 | 365.6 | SWEPCo | 488.5 | 478.3 | 1,265.5 | 1,225.3 |
Company | ARO as of December 31, 2020 | Accretion Expense | Liabilities Incurred | Liabilities Settled | Revisions in Cash Flow Estimates | ARO as of September 30, 2021 | ||||||||||||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||||||||||||||||
AEP (a)(b)(c)(d) | $ | 2,516.7 | $ | 77.6 | $ | 17.7 | $ | (27.6) | $ | 75.1 | $ | 2,659.5 | ||||||||||||||||||||||||||
APCo (a)(d) | 313.1 | 9.9 | — | (5.8) | 84.7 | 401.9 |
Three Months Ended March 31, 2021 | Three Months Ended September 30, 2021 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Vertically Integrated Utilities | Transmission and Distribution Utilities | AEP Transmission Holdco | Generation & Marketing | Corporate and Other | Reconciling Adjustments | AEP Consolidated | Vertically Integrated Utilities | Transmission and Distribution Utilities | AEP Transmission Holdco | Generation & Marketing | Corporate and Other | Reconciling Adjustments | AEP Consolidated | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(in millions) | (in millions) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Retail Revenues: | Retail Revenues: | Retail Revenues: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Residential Revenues | Residential Revenues | $ | 1,046.1 | $ | 548.1 | $ | 0 | $ | 0 | $ | 0 | $ | 0 | $ | 1,594.2 | Residential Revenues | $ | 1,144.3 | $ | 598.0 | $ | — | $ | — | $ | — | $ | — | $ | 1,742.3 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial Revenues | Commercial Revenues | 486.2 | 239.2 | 0 | 0 | 0 | 0 | 725.4 | Commercial Revenues | 618.9 | 279.9 | — | — | — | — | 898.8 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial Revenues | Industrial Revenues | 484.0 | 85.7 | 0 | 0 | 0 | (0.2) | 569.5 | Industrial Revenues | 566.0 | 95.2 | — | — | — | (0.1) | 661.1 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Retail Revenues | Other Retail Revenues | 37.8 | 10.0 | 0 | 0 | 0 | 0 | 47.8 | Other Retail Revenues | 47.5 | 11.1 | — | — | — | — | 58.6 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Retail Revenues | Total Retail Revenues | 2,054.1 | 883.0 | 0 | 0 | 0 | (0.2) | 2,936.9 | Total Retail Revenues | 2,376.7 | 984.2 | — | — | — | (0.1) | 3,360.8 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Wholesale and Competitive Retail Revenues: | Wholesale and Competitive Retail Revenues: | Wholesale and Competitive Retail Revenues: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Generation Revenues | Generation Revenues | 352.6 | 0 | 0 | 40.5 | 0 | 0 | 393.1 | Generation Revenues | 233.8 | — | — | 47.8 | — | — | 281.6 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Transmission Revenues (a) | Transmission Revenues (a) | 89.0 | 130.5 | 360.4 | 0 | 0 | (299.3) | 280.6 | Transmission Revenues (a) | 99.8 | 150.6 | 375.8 | — | — | (317.4) | 308.8 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Renewable Generation Revenues (b) | Renewable Generation Revenues (b) | 0 | 0 | 0 | 22.4 | 0 | (0.7) | 21.7 | Renewable Generation Revenues (b) | — | — | — | 24.1 | — | (0.6) | 23.5 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Retail, Trading and Marketing Revenues (c) | Retail, Trading and Marketing Revenues (c) | 0 | 0 | 0 | 569.8 | 1.2 | (31.8) | 539.2 | Retail, Trading and Marketing Revenues (c) | — | — | — | 397.1 | 0.1 | (3.1) | 394.1 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Wholesale and Competitive Retail Revenues | Total Wholesale and Competitive Retail Revenues | 441.6 | 130.5 | 360.4 | 632.7 | 1.2 | (331.8) | 1,234.6 | Total Wholesale and Competitive Retail Revenues | 333.6 | 150.6 | 375.8 | 469.0 | 0.1 | (321.1) | 1,008.0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Revenues from Contracts with Customers (b) | Other Revenues from Contracts with Customers (b) | 42.3 | 52.1 | 4.6 | 1.5 | 8.6 | (21.2) | 87.9 | Other Revenues from Contracts with Customers (b) | 49.4 | 54.2 | 5.1 | 1.4 | 23.5 | (40.1) | 93.5 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Revenues from Contracts with Customers | Total Revenues from Contracts with Customers | 2,538.0 | 1,065.6 | 365.0 | 634.2 | 9.8 | (353.2) | 4,259.4 | Total Revenues from Contracts with Customers | 2,759.7 | 1,189.0 | 380.9 | 470.4 | 23.6 | (361.3) | 4,462.3 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Revenues: | Other Revenues: | Other Revenues: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Alternative Revenues (b) | Alternative Revenues (b) | (0.7) | 17.2 | 12.0 | 0 | 0 | (11.6) | 16.9 | Alternative Revenues (b) | 0.5 | 6.4 | 10.7 | — | — | (11.7) | 5.9 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Revenues (b) | 0 | 5.3 | 0 | 0 | 3.1 | (3.6) | 4.8 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Revenues (b) (d) | Other Revenues (b) (d) | (0.9) | 4.9 | — | 150.7 | 3.1 | (3.0) | 154.8 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Other Revenues | Total Other Revenues | (0.7) | 22.5 | 12.0 | 0 | 3.1 | (15.2) | 21.7 | Total Other Revenues | (0.4) | 11.3 | 10.7 | 150.7 | 3.1 | (14.7) | 160.7 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Revenues | Total Revenues | $ | 2,537.3 | $ | 1,088.1 | $ | 377.0 | $ | 634.2 | $ | 12.9 | $ | (368.4) | $ | 4,281.1 | Total Revenues | $ | 2,759.3 | $ | 1,200.3 | $ | 391.6 | $ | 621.1 | $ | 26.7 | $ | (376.0) | $ | 4,623.0 |
Three Months Ended March 31, 2020 | Three Months Ended September 30, 2020 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Vertically Integrated Utilities | Transmission and Distribution Utilities | AEP Transmission Holdco | Generation & Marketing | Corporate and Other | Reconciling Adjustments | AEP Consolidated | Vertically Integrated Utilities | Transmission and Distribution Utilities | AEP Transmission Holdco | Generation & Marketing | Corporate and Other | Reconciling Adjustments | AEP Consolidated | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(in millions) | (in millions) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Retail Revenues: | Retail Revenues: | Retail Revenues: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Residential Revenues | Residential Revenues | $ | 915.1 | $ | 521.3 | $ | 0 | $ | 0 | $ | 0 | $ | 0 | $ | 1,436.4 | Residential Revenues | $ | 1,053.3 | $ | 594.8 | $ | — | $ | — | $ | — | $ | — | $ | 1,648.1 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial Revenues | Commercial Revenues | 489.4 | 276.9 | 0 | 0 | 0 | 0 | 766.3 | Commercial Revenues | 559.7 | 259.2 | — | — | — | — | 818.9 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial Revenues | Industrial Revenues | 518.2 | 97.8 | 0 | 0 | 0 | (0.2) | 615.8 | Industrial Revenues | 504.5 | 93.9 | — | — | — | (0.1) | 598.3 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Retail Revenues | Other Retail Revenues | 39.9 | 11.8 | 0 | 0 | 0 | 0 | 51.7 | Other Retail Revenues | 41.4 | 10.0 | — | — | — | — | 51.4 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Retail Revenues | Total Retail Revenues | 1,962.6 | 907.8 | 0 | 0 | 0 | (0.2) | 2,870.2 | Total Retail Revenues | 2,158.9 | 957.9 | — | — | — | (0.1) | 3,116.7 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Wholesale and Competitive Retail Revenues: | Wholesale and Competitive Retail Revenues: | Wholesale and Competitive Retail Revenues: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Generation Revenues | Generation Revenues | 140.4 | 0 | 0 | 44.1 | 0 | 0 | 184.5 | Generation Revenues | 158.4 | — | — | 30.5 | — | — | 188.9 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Transmission Revenues (a) | Transmission Revenues (a) | 79.9 | 114.1 | 309.8 | 0 | 0 | (263.0) | 240.8 | Transmission Revenues (a) | 84.4 | 119.1 | 317.7 | — | — | (276.9) | 244.3 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Renewable Generation Revenues (b) | Renewable Generation Revenues (b) | 0 | 0 | 0 | 17.2 | 0 | (0.6) | 16.6 | Renewable Generation Revenues (b) | — | — | — | 15.8 | — | (0.3) | 15.5 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Retail, Trading and Marketing Revenues (c) | Retail, Trading and Marketing Revenues (c) | 0 | 0 | 0 | 358.7 | (6.0) | (29.4) | 323.3 | Retail, Trading and Marketing Revenues (c) | — | — | — | 447.5 | 0.9 | (24.8) | 423.6 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Wholesale and Competitive Retail Revenues | Total Wholesale and Competitive Retail Revenues | 220.3 | 114.1 | 309.8 | 420.0 | (6.0) | (293.0) | 765.2 | Total Wholesale and Competitive Retail Revenues | 242.8 | 119.1 | 317.7 | 493.8 | 0.9 | (302.0) | 872.3 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Revenues from Contracts with Customers (b) | Other Revenues from Contracts with Customers (b) | 43.6 | 36.4 | 3.7 | 0.3 | 28.1 | (40.6) | 71.5 | Other Revenues from Contracts with Customers (b) | 34.1 | 42.8 | 2.4 | 0.7 | 33.9 | (43.7) | 70.2 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Revenues from Contracts with Customers | Total Revenues from Contracts with Customers | 2,226.5 | 1,058.3 | 313.5 | 420.3 | 22.1 | (333.8) | 3,706.9 | Total Revenues from Contracts with Customers | 2,435.8 | 1,119.8 | 320.1 | 494.5 | 34.8 | (345.8) | 4,059.2 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Revenues: | Other Revenues: | Other Revenues: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Alternative Revenues (b) | Alternative Revenues (b) | 0.2 | 19.3 | (3.3) | 0 | 0 | 4.5 | 20.7 | Alternative Revenues (b) | (1.0) | 9.3 | (2.2) | — | — | 6.6 | 12.7 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Revenues (b) | 0 | 29.3 | 0 | 18.3 | (2.2) | (25.5) | 19.9 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Revenues (b) (d) | Other Revenues (b) (d) | — | 36.2 | — | (4.5) | (2.2) | (35.0) | (5.5) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Other Revenues | Total Other Revenues | 0.2 | 48.6 | (3.3) | 18.3 | (2.2) | (21.0) | 40.6 | Total Other Revenues | (1.0) | 45.5 | (2.2) | (4.5) | (2.2) | (28.4) | 7.2 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Revenues | Total Revenues | $ | 2,226.7 | $ | 1,106.9 | $ | 310.2 | $ | 438.6 | $ | 19.9 | $ | (354.8) | $ | 3,747.5 | Total Revenues | $ | 2,434.8 | $ | 1,165.3 | $ | 317.9 | $ | 490.0 | $ | 32.6 | $ | (374.2) | $ | 4,066.4 |
Three Months Ended March 31, 2021 | Three Months Ended September 30, 2021 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
AEP Texas | AEPTCo | APCo | I&M | OPCo | PSO | SWEPCo | AEP Texas | AEPTCo | APCo | I&M | OPCo | PSO | SWEPCo | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(in millions) | (in millions) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Retail Revenues: | Retail Revenues: | Retail Revenues: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Residential Revenues | Residential Revenues | $ | 122.7 | $ | 0 | $ | 416.9 | $ | 213.6 | $ | 425.3 | $ | 136.8 | $ | 166.3 | Residential Revenues | $ | 172.5 | $ | — | $ | 340.1 | $ | 231.7 | $ | 425.4 | $ | 236.8 | $ | 230.9 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial Revenues | Commercial Revenues | 80.7 | 0 | 130.2 | 113.6 | 158.5 | 72.7 | 112.9 | Commercial Revenues | 89.1 | — | 146.9 | 143.9 | 190.8 | 120.9 | 145.4 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial Revenues | Industrial Revenues | 26.5 | 0 | 130.9 | 128.4 | 59.2 | 56.4 | 70.6 | Industrial Revenues | 25.4 | — | 154.8 | 146.8 | 69.8 | 77.1 | 85.4 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Retail Revenues | Other Retail Revenues | 6.8 | 0 | 16.9 | 1.4 | 3.2 | 15.7 | 2.3 | Other Retail Revenues | 8.2 | — | 18.6 | 1.3 | 3.1 | 23.4 | 2.3 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Retail Revenues | Total Retail Revenues | 236.7 | 0 | 694.9 | 457.0 | 646.2 | 281.6 | 352.1 | Total Retail Revenues | 295.2 | — | 660.4 | 523.7 | 689.1 | 458.2 | 464.0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Wholesale Revenues: | Wholesale Revenues: | Wholesale Revenues: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Generation Revenues (a) | Generation Revenues (a) | 0 | 0 | 72.4 | 79.6 | 0 | (7.1) | 228.6 | Generation Revenues (a) | — | — | 83.7 | 80.2 | — | 7.2 | 77.1 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Transmission Revenues (b) | Transmission Revenues (b) | 112.0 | 345.2 | 34.2 | 8.3 | 18.5 | 9.4 | 28.9 | Transmission Revenues (b) | 131.5 | 360.1 | 35.2 | 8.7 | 19.1 | 10.6 | 37.1 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Wholesale Revenues | Total Wholesale Revenues | 112.0 | 345.2 | 106.6 | 87.9 | 18.5 | 2.3 | 257.5 | Total Wholesale Revenues | 131.5 | 360.1 | 118.9 | 88.9 | 19.1 | 17.8 | 114.2 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Revenues from Contracts with Customers (c) | Other Revenues from Contracts with Customers (c) | 16.2 | 4.6 | 13.1 | 20.7 | 36.0 | 12.6 | 6.4 | Other Revenues from Contracts with Customers (c) | 6.8 | 5.0 | 22.5 | 24.2 | 47.3 | 8.3 | 6.1 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Revenues from Contracts with Customers | Total Revenues from Contracts with Customers | 364.9 | 349.8 | 814.6 | 565.6 | 700.7 | 296.5 | 616.0 | Total Revenues from Contracts with Customers | 433.5 | 365.1 | 801.8 | 636.8 | 755.5 | 484.3 | 584.3 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Revenues: | Other Revenues: | Other Revenues: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Alternative Revenues (d) | Alternative Revenues (d) | (0.7) | 11.9 | 2.2 | (1.1) | 17.9 | (0.4) | 0.1 | Alternative Revenues (d) | (0.9) | 11.9 | 2.2 | (1.1) | 7.3 | (0.5) | (0.2) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Revenues (d) | Other Revenues (d) | 0 | 0 | 0.2 | 0 | 5.3 | 0 | 0 | Other Revenues (d) | — | — | — | — | 4.9 | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Other Revenues | Total Other Revenues | (0.7) | 11.9 | 2.4 | (1.1) | 23.2 | (0.4) | 0.1 | Total Other Revenues | (0.9) | 11.9 | 2.2 | (1.1) | 12.2 | (0.5) | (0.2) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Revenues | Total Revenues | $ | 364.2 | $ | 361.7 | $ | 817.0 | $ | 564.5 | $ | 723.9 | $ | 296.1 | $ | 616.1 | Total Revenues | $ | 432.6 | $ | 377.0 | $ | 804.0 | $ | 635.7 | $ | 767.7 | $ | 483.8 | $ | 584.1 |
Three Months Ended March 31, 2020 | Three Months Ended September 30, 2020 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
AEP Texas | AEPTCo | APCo | I&M | OPCo | PSO | SWEPCo | AEP Texas | AEPTCo | APCo | I&M | OPCo | PSO | SWEPCo | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(in millions) | (in millions) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Retail Revenues: | Retail Revenues: | Retail Revenues: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Residential Revenues | Residential Revenues | $ | 132.9 | $ | 0 | $ | 357.5 | $ | 201.3 | $ | 388.4 | $ | 128.5 | $ | 131.6 | Residential Revenues | $ | 165.3 | $ | — | $ | 324.2 | $ | 222.6 | $ | 429.4 | $ | 195.8 | $ | 219.4 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial Revenues | Commercial Revenues | 112.8 | 0 | 132.3 | 122.2 | 164.0 | 76.1 | 105.6 | Commercial Revenues | 78.0 | — | 138.4 | 135.8 | 181.2 | 94.4 | 135.0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial Revenues | Industrial Revenues | 35.2 | 0 | 141.1 | 137.8 | 62.7 | 61.3 | 79.8 | Industrial Revenues | 24.9 | — | 139.4 | 139.7 | 69.1 | 55.0 | 83.8 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Retail Revenues | Other Retail Revenues | 8.4 | 0 | 17.9 | 1.8 | 3.4 | 16.6 | 2.0 | Other Retail Revenues | 6.9 | — | 17.6 | 1.6 | 3.1 | 18.4 | 2.3 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Retail Revenues | Total Retail Revenues | 289.3 | 0 | 648.8 | 463.1 | 618.5 | 282.5 | 319.0 | Total Retail Revenues | 275.1 | — | 619.6 | 499.7 | 682.8 | 363.6 | 440.5 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Wholesale Revenues: | Wholesale Revenues: | Wholesale Revenues: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Generation Revenues (a) | Generation Revenues (a) | 0 | 0 | 54.1 | 78.4 | 0 | 1.9 | 34.1 | Generation Revenues (a) | — | — | 70.3 | 61.5 | — | 5.8 | 42.3 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Transmission Revenues (b) | Transmission Revenues (b) | 96.9 | 298.2 | 30.4 | 7.4 | 17.1 | 7.8 | 25.4 | Transmission Revenues (b) | 101.8 | 305.7 | 30.8 | 7.4 | 17.2 | 8.5 | 28.7 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Wholesale Revenues | Total Wholesale Revenues | 96.9 | 298.2 | 84.5 | 85.8 | 17.1 | 9.7 | 59.5 | Total Wholesale Revenues | 101.8 | 305.7 | 101.1 | 68.9 | 17.2 | 14.3 | 71.0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Revenues from Contracts with Customers (c) | Other Revenues from Contracts with Customers (c) | 7.9 | 3.4 | 17.2 | 21.0 | 28.6 | 4.7 | 5.8 | Other Revenues from Contracts with Customers (c) | 15.2 | 3.0 | 16.1 | 17.7 | 27.6 | 4.8 | 5.6 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Revenues from Contracts with Customers | Total Revenues from Contracts with Customers | 394.1 | 301.6 | 750.5 | 569.9 | 664.2 | 296.9 | 384.3 | Total Revenues from Contracts with Customers | 392.1 | 308.7 | 736.8 | 586.3 | 727.6 | 382.7 | 517.1 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Revenues: | Other Revenues: | Other Revenues: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Alternative Revenues (d) | Alternative Revenues (d) | (0.7) | (6.0) | (1.1) | 0.4 | 20.0 | 0.4 | 1.6 | Alternative Revenues (d) | (0.7) | (4.6) | (1.1) | 0.4 | 10.0 | (0.5) | 0.2 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Revenues (d) | Other Revenues (d) | 30.2 | 0 | 0 | 0 | 6.1 | 0 | 0 | Other Revenues (d) | 40.6 | — | — | — | 3.4 | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Other Revenues | Total Other Revenues | 29.5 | (6.0) | (1.1) | 0.4 | 26.1 | 0.4 | 1.6 | Total Other Revenues | 39.9 | (4.6) | (1.1) | 0.4 | 13.4 | (0.5) | 0.2 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Revenues | Total Revenues | $ | 423.6 | $ | 295.6 | $ | 749.4 | $ | 570.3 | $ | 690.3 | $ | 297.3 | $ | 385.9 | Total Revenues | $ | 432.0 | $ | 304.1 | $ | 735.7 | $ | 586.7 | $ | 741.0 | $ | 382.2 | $ | 517.3 |
Nine Months Ended September 30, 2021 | ||||||||||||||||||||||||||||||||||||||||||||
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 | $ | 3,016.2 | $ | 1,641.2 | $ | — | $ | — | $ | — | $ | — | $ | 4,657.4 | ||||||||||||||||||||||||||||||
Commercial Revenues | 1,642.0 | 804.1 | — | — | — | — | 2,446.1 | |||||||||||||||||||||||||||||||||||||
Industrial Revenues | 1,602.5 | 283.8 | — | — | — | (0.5) | 1,885.8 | |||||||||||||||||||||||||||||||||||||
Other Retail Revenues | 125.9 | 32.4 | — | — | — | — | 158.3 | |||||||||||||||||||||||||||||||||||||
Total Retail Revenues | 6,386.6 | 2,761.5 | — | — | — | (0.5) | 9,147.6 | |||||||||||||||||||||||||||||||||||||
Wholesale and Competitive Retail Revenues: | ||||||||||||||||||||||||||||||||||||||||||||
Generation Revenues | 757.1 | — | — | 119.4 | — | — | 876.5 | |||||||||||||||||||||||||||||||||||||
Transmission Revenues (a) | 267.3 | 420.7 | 1,092.1 | — | — | (901.5) | 878.6 | |||||||||||||||||||||||||||||||||||||
Renewable Generation Revenues (b) | — | — | — | 66.7 | — | (1.7) | 65.0 | |||||||||||||||||||||||||||||||||||||
Retail, Trading and Marketing Revenues (c) | — | — | — | 1,325.6 | 0.6 | (48.5) | 1,277.7 | |||||||||||||||||||||||||||||||||||||
Total Wholesale and Competitive Retail Revenues | 1,024.4 | 420.7 | 1,092.1 | 1,511.7 | 0.6 | (951.7) | 3,097.8 | |||||||||||||||||||||||||||||||||||||
Other Revenues from Contracts with Customers (b) | 136.1 | 149.3 | 12.5 | 4.9 | 46.1 | (87.9) | 261.0 | |||||||||||||||||||||||||||||||||||||
Total Revenues from Contracts with Customers | 7,547.1 | 3,331.5 | 1,104.6 | 1,516.6 | 46.7 | (1,040.1) | 12,506.4 | |||||||||||||||||||||||||||||||||||||
Other Revenues: | ||||||||||||||||||||||||||||||||||||||||||||
Alternative Revenues (b) | 10.7 | 46.1 | 42.2 | — | — | (63.5) | 35.5 | |||||||||||||||||||||||||||||||||||||
Other Revenues (b) (d) | (0.6) | 14.2 | — | 175.3 | 8.4 | (8.6) | 188.7 | |||||||||||||||||||||||||||||||||||||
Total Other Revenues | 10.1 | 60.3 | 42.2 | 175.3 | 8.4 | (72.1) | 224.2 | |||||||||||||||||||||||||||||||||||||
Total Revenues | $ | 7,557.2 | $ | 3,391.8 | $ | 1,146.8 | $ | 1,691.9 | $ | 55.1 | $ | (1,112.2) | $ | 12,730.6 |
Nine Months Ended September 30, 2020 | ||||||||||||||||||||||||||||||||||||||||||||
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 | $ | 2,789.1 | $ | 1,610.6 | $ | — | $ | — | $ | — | $ | — | $ | 4,399.7 | ||||||||||||||||||||||||||||||
Commercial Revenues | 1,523.6 | 792.4 | — | — | — | — | 2,316.0 | |||||||||||||||||||||||||||||||||||||
Industrial Revenues | 1,508.7 | 290.4 | — | — | — | (0.5) | 1,798.6 | |||||||||||||||||||||||||||||||||||||
Other Retail Revenues | 118.2 | 32.1 | — | — | — | — | 150.3 | |||||||||||||||||||||||||||||||||||||
Total Retail Revenues | 5,939.6 | 2,725.5 | — | — | — | (0.5) | 8,664.6 | |||||||||||||||||||||||||||||||||||||
Wholesale and Competitive Retail Revenues: | ||||||||||||||||||||||||||||||||||||||||||||
Generation Revenues | 447.4 | — | — | 106.1 | — | — | 553.5 | |||||||||||||||||||||||||||||||||||||
Transmission Revenues (a) | 248.4 | 341.6 | 937.7 | — | — | (741.7) | 786.0 | |||||||||||||||||||||||||||||||||||||
Renewable Generation Revenues (b) | — | — | — | 50.7 | — | (1.2) | 49.5 | |||||||||||||||||||||||||||||||||||||
Retail, Trading and Marketing Revenues (c) | — | — | — | 1,133.8 | (5.7) | (80.7) | 1,047.4 | |||||||||||||||||||||||||||||||||||||
Total Wholesale and Competitive Retail Revenues | 695.8 | 341.6 | 937.7 | 1,290.6 | (5.7) | (823.6) | 2,436.4 | |||||||||||||||||||||||||||||||||||||
Other Revenues from Contracts with Customers (b) | 124.1 | 112.3 | 17.5 | 1.7 | 84.4 | (115.7) | 224.3 | |||||||||||||||||||||||||||||||||||||
Total Revenues from Contracts with Customers | 6,759.5 | 3,179.4 | 955.2 | 1,292.3 | 78.7 | (939.8) | 11,325.3 | |||||||||||||||||||||||||||||||||||||
Other Revenues: | ||||||||||||||||||||||||||||||||||||||||||||
Alternative Revenues (b) | (6.0) | 49.2 | (77.4) | — | — | 3.5 | (30.7) | |||||||||||||||||||||||||||||||||||||
Other Revenues (b) (d) | — | 78.1 | — | 13.2 | (6.7) | (71.3) | 13.3 | |||||||||||||||||||||||||||||||||||||
Total Other Revenues | (6.0) | 127.3 | (77.4) | 13.2 | (6.7) | (67.8) | (17.4) | |||||||||||||||||||||||||||||||||||||
Total Revenues | $ | 6,753.5 | $ | 3,306.7 | $ | 877.8 | $ | 1,305.5 | $ | 72.0 | $ | (1,007.6) | $ | 11,307.9 |
Nine Months Ended September 30, 2021 | ||||||||||||||||||||||||||||||||||||||||||||
AEP Texas | AEPTCo | APCo | I&M | OPCo | PSO | SWEPCo | ||||||||||||||||||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||||||||||||||||||||||
Retail Revenues: | ||||||||||||||||||||||||||||||||||||||||||||
Residential Revenues | $ | 423.7 | $ | — | $ | 1,025.0 | $ | 624.4 | $ | 1,217.5 | $ | 516.4 | $ | 547.1 | ||||||||||||||||||||||||||||||
Commercial Revenues | 265.2 | — | 409.5 | 384.5 | 538.9 | 286.8 | 385.4 | |||||||||||||||||||||||||||||||||||||
Industrial Revenues | 81.6 | — | 433.4 | 418.9 | 202.2 | 202.1 | 247.1 | |||||||||||||||||||||||||||||||||||||
Other Retail Revenues | 23.1 | — | 51.7 | 3.9 | 9.4 | 58.2 | 7.2 | |||||||||||||||||||||||||||||||||||||
Total Retail Revenues | 793.6 | — | 1,919.6 | 1,431.7 | 1,968.0 | 1,063.5 | 1,186.8 | |||||||||||||||||||||||||||||||||||||
Wholesale Revenues: | ||||||||||||||||||||||||||||||||||||||||||||
Generation Revenues (a) | — | — | 231.2 | 248.1 | — | 6.8 | 326.2 | |||||||||||||||||||||||||||||||||||||
Transmission Revenues (b) | 364.5 | 1,045.2 | 94.1 | 25.3 | 56.2 | 28.8 | 94.5 | |||||||||||||||||||||||||||||||||||||
Total Wholesale Revenues | 364.5 | 1,045.2 | 325.3 | 273.4 | 56.2 | 35.6 | 420.7 | |||||||||||||||||||||||||||||||||||||
Other Revenues from Contracts with Customers (c) | 35.4 | 12.5 | 43.6 | 81.9 | 113.8 | 24.8 | 17.7 | |||||||||||||||||||||||||||||||||||||
Total Revenues from Contracts with Customers | 1,193.5 | 1,057.7 | 2,288.5 | 1,787.0 | 2,138.0 | 1,123.9 | 1,625.2 | |||||||||||||||||||||||||||||||||||||
Other Revenues: | ||||||||||||||||||||||||||||||||||||||||||||
Alternative Revenues (d) | 1.8 | 46.5 | 9.5 | (3.0) | 44.3 | 0.5 | 5.1 | |||||||||||||||||||||||||||||||||||||
Other Revenues (d) | — | — | — | — | 14.2 | — | — | |||||||||||||||||||||||||||||||||||||
Total Other Revenues | 1.8 | 46.5 | 9.5 | (3.0) | 58.5 | 0.5 | 5.1 | |||||||||||||||||||||||||||||||||||||
Total Revenues | $ | 1,195.3 | $ | 1,104.2 | $ | 2,298.0 | $ | 1,784.0 | $ | 2,196.5 | $ | 1,124.4 | $ | 1,630.3 |
Nine Months Ended September 30, 2020 | ||||||||||||||||||||||||||||||||||||||||||||
AEP Texas | AEPTCo | APCo | I&M | OPCo | PSO | SWEPCo | ||||||||||||||||||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||||||||||||||||||||||
Retail Revenues: | ||||||||||||||||||||||||||||||||||||||||||||
Residential Revenues | $ | 447.8 | $ | — | $ | 954.4 | $ | 610.8 | $ | 1,162.6 | $ | 463.5 | $ | 498.7 | ||||||||||||||||||||||||||||||
Commercial Revenues | 285.2 | — | 390.6 | 376.0 | 507.3 | 247.8 | 351.2 | |||||||||||||||||||||||||||||||||||||
Industrial Revenues | 91.4 | — | 415.0 | 408.2 | 199.1 | 170.8 | 245.9 | |||||||||||||||||||||||||||||||||||||
Other Retail Revenues | 22.3 | — | 50.9 | 5.0 | 9.8 | 51.2 | 6.6 | |||||||||||||||||||||||||||||||||||||
Total Retail Revenues | 846.7 | — | 1,810.9 | 1,400.0 | 1,878.8 | 933.3 | 1,102.4 | |||||||||||||||||||||||||||||||||||||
Wholesale Revenues: | ||||||||||||||||||||||||||||||||||||||||||||
Generation Revenues (a) | — | — | 185.3 | 215.5 | — | 9.9 | 106.7 | |||||||||||||||||||||||||||||||||||||
Transmission Revenues (b) | 290.4 | 902.6 | 91.5 | 22.1 | 51.1 | 20.2 | 87.5 | |||||||||||||||||||||||||||||||||||||
Total Wholesale Revenues | 290.4 | 902.6 | 276.8 | 237.6 | 51.1 | 30.1 | 194.2 | |||||||||||||||||||||||||||||||||||||
Other Revenues from Contracts with Customers (c) | 33.4 | 17.5 | 46.8 | 60.6 | 78.9 | 23.2 | 21.1 | |||||||||||||||||||||||||||||||||||||
Total Revenues from Contracts with Customers | 1,170.5 | 920.1 | 2,134.5 | 1,698.2 | 2,008.8 | 986.6 | 1,317.7 | |||||||||||||||||||||||||||||||||||||
Other Revenues: | ||||||||||||||||||||||||||||||||||||||||||||
Alternative Revenues (d) | (0.3) | (82.3) | (11.9) | 5.4 | 49.6 | 1.5 | 0.5 | |||||||||||||||||||||||||||||||||||||
Other Revenues (d) | 86.9 | — | — | — | 13.3 | — | — | |||||||||||||||||||||||||||||||||||||
Total Other Revenues | 86.6 | (82.3) | (11.9) | 5.4 | 62.9 | 1.5 | 0.5 | |||||||||||||||||||||||||||||||||||||
Total Revenues | $ | 1,257.1 | $ | 837.8 | $ | 2,122.6 | $ | 1,703.6 | $ | 2,071.7 | $ | 988.1 | $ | 1,318.2 |
Company | Company | 2021 | 2022-2023 | 2024-2025 | After 2025 | Total | Company | 2021 | 2022-2023 | 2024-2025 | After 2025 | Total | ||||||||||||||||||||||||||||||||||||||||||||||||||||
(in millions) | (in millions) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
AEP | AEP | $ | 873.4 | $ | 171.3 | $ | 160.4 | $ | 161.5 | $ | 1,366.6 | AEP | $ | 314.9 | $ | 199.3 | $ | 160.3 | $ | 161.5 | $ | 836.0 | ||||||||||||||||||||||||||||||||||||||||||
AEP Texas | AEP Texas | 349.0 | 0 | 0 | 0 | 349.0 | AEP Texas | 132.7 | — | — | — | 132.7 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
AEPTCo | AEPTCo | 1,001.3 | 0 | 0 | 0 | 1,001.3 | AEPTCo | 331.7 | — | — | — | 331.7 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
APCo | APCo | 130.4 | 32.3 | 24.3 | 11.7 | 198.7 | APCo | 44.9 | 34.5 | 26.6 | 11.6 | 117.6 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
I&M | I&M | 25.8 | 8.8 | 8.8 | 4.4 | 47.8 | I&M | 10.0 | 11.5 | 8.8 | 4.5 | 34.8 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
OPCo | OPCo | 49.7 | 0 | 0 | 0.1 | 49.8 | OPCo | 22.2 | 10.1 | — | — | 32.3 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
PSO | PSO | 14.8 | 0 | 0 | 0 | 14.8 | PSO | 3.5 | — | — | — | 3.5 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
SWEPCo | SWEPCo | 41.6 | 0 | 0 | 0 | 41.6 | SWEPCo | 10.1 | — | — | — | 10.1 |
Company | Company | March 31, 2021 | December 31, 2020 | Company | September 30, 2021 | December 31, 2020 | ||||||||||||||||||||||
(in millions) | (in millions) | |||||||||||||||||||||||||||
AEPTCo | AEPTCo | $ | 92.3 | $ | 81.0 | AEPTCo | $ | 96.4 | $ | 81.0 | ||||||||||||||||||
APCo | APCo | 52.6 | 52.7 | APCo | 64.1 | 52.7 | ||||||||||||||||||||||
I&M | I&M | 31.4 | 34.8 | I&M | 24.6 | 34.8 | ||||||||||||||||||||||
OPCo | OPCo | 47.8 | 45.9 | OPCo | 44.5 | 45.9 | ||||||||||||||||||||||
PSO | PSO | 14.9 | 7.8 | PSO | 17.7 | 7.8 | ||||||||||||||||||||||
SWEPCo | SWEPCo | 22.8 | 11.2 | SWEPCo | 19.9 | 11.2 |
September 30, 2021 | ||||||||||||||
AEP | AEPTCo | |||||||||||||
(in millions) | ||||||||||||||
Assets: | ||||||||||||||
Accounts Receivable and Accrued Unbilled Revenues | $ | 24.7 | $ | 1.6 | ||||||||||
Fuel, Materials and Supplies | 26.5 | — | ||||||||||||
Property, Plant and Equipment, Net | 2,264.6 | 164.5 | ||||||||||||
Regulatory Assets | 501.7 | — | ||||||||||||
Other Classes of Assets that are not Major | 43.8 | 0.3 | ||||||||||||
Total Assets | $ | 2,861.3 | $ | 166.4 | ||||||||||
Liabilities: | ||||||||||||||
Accounts Payable | $ | 51.2 | $ | 1.5 | ||||||||||
Long-term Debt Due Within One Year | 125.0 | — | ||||||||||||
Customer Deposits | 31.9 | — | ||||||||||||
Deferred Income Taxes | 448.3 | 14.9 | ||||||||||||
Long-term Debt | 978.0 | — | ||||||||||||
Regulatory Liabilities and Deferred Investment Tax Credits | 146.5 | 7.5 | ||||||||||||
Other Classes of Liabilities that are not Major | 93.2 | 4.2 | ||||||||||||
Total Liabilities | $ | 1,874.1 | $ | 28.1 |
Exhibit | Description | Previously Filed as Exhibit to: | ||||||||||||
Company Order and Officer’s Certificate between | ||||||||||||||
4 | ||||||||||||||
PSO‡ File No. 0-343 | ||||||||||||||
4 | Tenth Supplemental Indenture between Public Service Company of Oklahoma and The Bank of New York Mellon Trust Company, N.A. as Trustee dated August 1, 2021 establishing terms of the 2.20% Senior Notes, Series J, due 2031 and the 3.15% Senior Notes Series K, due 2051 | |||||||||||||
Exhibit | Description | AEP | AEP Texas | AEPTCo | APCo | I&M | OPCo | PSO | SWEPCo | |||||||||||||||||||||||||||||||||||||||||||||||
31(a) | Certification of Chief Executive Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
31(b) | Certification of Chief Financial Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
32(a) | Certification of Chief Executive Officer Pursuant to Section 1350 of Chapter 63 of Title 18 of the United States Code | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
32(b) | Certification of Chief Financial Officer Pursuant to Section 1350 of Chapter 63 of Title 18 of the United States Code | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
95 | Mine Safety Disclosures | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
101.INS | XBRL Instance Document | The instance document does not appear in the interactive data file because its XBRL tags are embedded within the inline XBRL document. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
101.SCH | XBRL Taxonomy Extension Schema | X | X | X | X | X | X | X | X |
Exhibit | Description | AEP | AEP Texas | AEPTCo | APCo | I&M | OPCo | PSO | SWEPCo | |||||||||||||||||||||||||||||||||||||||||||||||
101.CAL | XBRL Taxonomy Extension Calculation Linkbase | X | X | X | X | X | X | X | X | |||||||||||||||||||||||||||||||||||||||||||||||
101.DEF | XBRL Taxonomy Extension Definition Linkbase | X | X | X | X | X | X | X | X | |||||||||||||||||||||||||||||||||||||||||||||||
101.LAB | XBRL Taxonomy Extension Label Linkbase | X | X | X | X | X | X | X | X | |||||||||||||||||||||||||||||||||||||||||||||||
101.PRE | XBRL Taxonomy Extension Presentation Linkbase | X | X | X | X | X | X | X | X | |||||||||||||||||||||||||||||||||||||||||||||||
104 | Cover Page Interactive Data File | Formatted as Inline XBRL and contained in Exhibit 101. |