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 | |||||||||||||||||
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. Except for American Electric Power Company, Inc., 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 Energy Supply LLC | A nonregulated holding company for AEP’s competitive generation, wholesale and retail businesses, and a wholly-owned subsidiary of AEP. | |||||||
AEP Renewables | A division of AEP Energy Supply LLC that develops and/or acquires large scale renewable projects that are backed with long-term contracts with creditworthy | |||||||
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. | |||||||
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. | |||||||
ALJ | Administrative Law Judge. | |||||||
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. | |||||||
Apple Blossom | Apple Blossom Wind Holdings LLC, a consolidated VIE of AEP, and tax equity partnership. | |||||||
APSC | Arkansas Public Service Commission. | |||||||
ARO | Asset Retirement Obligations. | |||||||
ATM | At-the-Market. | |||||||
Black Oak | Black Oak Getty Wind Holdings LLC, a consolidated VIE of AEP, and tax equity partnership. | |||||||
CAA | Clean Air Act. | |||||||
CCR | Coal Combustion Residual. | |||||||
CO2 | Carbon dioxide and other greenhouse gases. | |||||||
CO2e | Carbon dioxide equivalent. | |||||||
Term | Meaning | |||||||
Cook Plant | Donald C. Cook Nuclear Plant, a two-unit, 2,296 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 XIII, DCC Fuel XIV, DCC Fuel XV, DCC Fuel XVI, DCC Fuel XVII and DCC Fuel XVIII, consolidated VIEs formed for the purpose of acquiring, owning and leasing nuclear fuel to I&M. | |||||||
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. | |||||||
Dry Lake | Dry Lake Solar Project, a consolidated VIE whose sole purpose is to own and operate a 100 MW solar generation facility in southern Nevada in which AEP owns a 75% interest. | |||||||
EIS | Energy Insurance Services, Inc., a nonaffiliated captive insurance company and consolidated VIE of AEP. | |||||||
ELG | Effluent Limitation Guidelines. | |||||||
ENEC | Expanded Net Energy Cost. | |||||||
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. | |||||||
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. | |||||||
IRA | On August 16, 2022 President Biden signed into law legislation commonly referred to as the “Inflation Reduction Act” (IRA). | |||||||
IRS | Internal Revenue Service. | |||||||
ITC | Investment Tax Credit. | |||||||
IURC | Indiana Utility Regulatory Commission. | |||||||
KGPCo | Kingsport Power Company, an AEP electric utility subsidiary. | |||||||
KPCo | Kentucky Power Company, an AEP electric utility subsidiary. | |||||||
Term | Meaning | |||||||
KPSC | Kentucky Public Service Commission. | |||||||
KTCo | AEP Kentucky Transmission Company, Inc., an affiliate of KPCo and a wholly-owned subsidiary of AEP. | |||||||
KWh | Kilowatt-hour. | |||||||
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. | |||||||
Mitchell Plant | A two unit, 1,560 MW coal-fired power plant located in Moundsville, West Virginia. The plant is jointly owned by KPCo and WPCo. | |||||||
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, a joint PSO and SWEPCo project, which includes three Oklahoma wind facilities totaling approximately 1,484 MWs of wind generation. | |||||||
NOLC | Net Operating Loss Carryforward. | |||||||
NOx | Nitrogen oxide. | |||||||
OCC | Corporation Commission of the State of Oklahoma. | |||||||
OHTCo | AEP Ohio Transmission Company, Inc., a wholly-owned AEPTCo transmission subsidiary. | |||||||
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. | |||||||
PJM | Pennsylvania – New Jersey – Maryland regional transmission organization. | |||||||
PM | Particulate Matter. | |||||||
PPA | Purchase Power and Sale Agreement. | |||||||
PSA | Purchase and Sale Agreement. | |||||||
PSO | Public Service Company of Oklahoma, an AEP electric utility subsidiary. | |||||||
PTC | Production Tax Credit. | |||||||
PUCO | Public Utilities Commission of Ohio. | |||||||
PUCT | Public Utility Commission of Texas. | |||||||
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, jointly owned by AEGCo and I&M, consisting of two 1,310 MW coal-fired generating units near Rockport, Indiana. | |||||||
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. | |||||||
Santa Rita East | Santa Rita East Wind Holdings, LLC, a consolidated VIE whose sole purpose is to own and operate a 302 MW wind generation facility in west Texas in which AEP owns an 85% interest. | |||||||
SEC | U.S. Securities and Exchange Commission. | |||||||
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 III LLC, a wholly-owned subsidiary of AEP Texas and consolidated VIE formed for the purpose of issuing and servicing securitization bonds related to Texas Restructuring Legislation. | |||||||
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 998 MWs of wind generation in Oklahoma. | |||||||
Turk Plant | John W. Turk, Jr. Plant, a 650 MW coal-fired plant in Arkansas that is 73% owned by SWEPCo. | |||||||
UPA | Unit Power Agreement. | |||||||
Utility Money Pool | Centralized funding mechanism AEP uses to meet the short-term cash requirements of certain utility subsidiaries. | |||||||
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 and any associated disruption of AEP’s business operations due to impacts on economic or market conditions, costs of compliance with potential government regulations, electricity usage, supply chain issues, customers, service providers, vendors and suppliers. | ||||
• | The economic impact of increased global trade tensions including the | ||||
• | Inflationary or deflationary interest rate trends. | ||||
• | Volatility and disruptions in financial markets precipitated by any cause, including failure to make progress on federal budget or debt ceiling matters or instability in the banking industry; 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 (i) if expected sources of capital, such as proceeds from the sale of assets, subsidiaries or tax credits, do not materialize or do not materialize at the level anticipated, and (ii) 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. | ||||
• | Limitations or restrictions on the amounts and types of insurance available to cover losses that might arise in connection with natural disasters or operations. | ||||
• | 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 transition from fossil generation and 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, cost caps imposed by regulators and other operational commitments to regulatory commissions and customers for renewable generation projects, and to recover all related costs. | ||||
• | New legislation, litigation or 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. | ||||
• | The impact of federal tax legislation on results of operations, financial condition, cash flows or credit ratings. | ||||
• | The risks before, during and after generation of electricity associated with the fuels used or the byproducts and wastes of such fuels, including coal ash and SNF. | ||||
• | 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 or regulatory proceedings or investigations. | ||||
• | 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. | ||||
• | The impact of changing expectations and demands of customers, regulators, investors and stakeholders, including heightened emphasis on environmental, social and governance concerns. | ||||
• | 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 and military conflicts, the effects of terrorism (including increased security costs), embargoes, | ||||
• | 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) | |||||||||||||||||||||||||||||
SWEPCo | Louisiana | $ | 21.0 | (a) | 9.5% | February 2023 |
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) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
PSO | PSO | Oklahoma | November 2022 | $ | 173.0 | (a) | 10.4% | 8.6%-9.5% | PSO | Oklahoma | November 2022 | $ | 173.0 | (a) | 10.4% | 8.6%-9.5% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
APCo | APCo | Virginia | March 2023 | 213.0 | 10.6% | 9.2% | (b) | APCo | Virginia | March 2023 | 213.0 | 10.6% | 9.5% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
KPCo | KPCo | Kentucky | June 2023 | 94.0 | 9.9% | (c) | KPCo | Kentucky | June 2023 | 94.0 | 9.9% | 9.3%-9.7% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
I&M | I&M | Indiana | August 2023 | 116.0 | 10.5% | (b) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
I&M | I&M | Michigan | September 2023 | 34.0 | 10.5% | (c) |
Traditional FAC | As of | As of | Increase/ | Traditional FAC | As of | As of | Increase/ | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Company | Company | Jurisdiction | Recovery Reset | June 30, 2023 | December 31, 2022 | (Decrease) | Company | Jurisdiction | Recovery Reset | September 30, 2023 | December 31, 2022 | (Decrease) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
(in millions) | (in millions) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
APCo | APCo | Virginia (a) | Annually | $ | 333.5 | $ | 407.9 | $ | (74.4) | APCo | Virginia (a) | Annually | $ | 286.9 | $ | 407.9 | $ | (121.0) | ||||||||||||||||||||||||||||||||||||||||||||||
APCo | APCo | West Virginia | Annually | 308.5 | 288.5 | 20.0 | APCo | West Virginia | Annually | 301.3 | 288.5 | 12.8 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
I&M | I&M | Indiana | Bi-Annually | 5.4 | 38.1 | (32.7) | I&M | Indiana | Bi-Annually | — | 38.1 | (38.1) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
I&M | I&M | Michigan | Annually | 12.1 | 9.0 | 3.1 | I&M | Michigan | Annually | 13.3 | 9.0 | 4.3 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
PSO | PSO | Oklahoma (b) | Annually | 285.1 | 431.5 | (146.4) | PSO | Oklahoma (b) | Annually | 168.2 | 431.5 | (263.3) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
SWEPCo | SWEPCo | Arkansas | Annually | 36.8 | 65.8 | (29.0) | SWEPCo | Arkansas | Annually | 30.0 | 65.8 | (35.8) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
SWEPCo | SWEPCo | Texas (c) | Tri-Annually | 158.7 | 191.4 | (32.7) | SWEPCo | Texas (c) | Tri-Annually | 134.7 | 191.4 | (56.7) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
KPCo | KPCo | Kentucky | Monthly | 4.0 | 23.2 | (19.2) | KPCo | Kentucky | Monthly | 6.3 | 23.2 | (16.9) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
WPCo | WPCo | West Virginia | Annually | 256.6 | 231.1 | 25.5 | WPCo | West Virginia | Annually | 273.5 | 231.1 | 42.4 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Total | $ | 1,400.7 | $ | 1,686.5 | $ | (285.8) | Total | $ | 1,214.2 | $ | 1,686.5 | $ | (472.3) |
Company | Generation Type | Expected Commercial Operation | Owned/PPA | Generating Capacity | ||||||||||||||||||||||
(in MWs) | ||||||||||||||||||||||||||
APCo (a) | Solar | |||||||||||||||||||||||||
APCo (a) | Wind | Q3 2025 through Q1 2026 | Owned | |||||||||||||||||||||||
I&M | Solar | Q4 2025 | PPA | 280 | ||||||||||||||||||||||
I&M (b) | Solar | Q2 2026 | Owned | 469 | ||||||||||||||||||||||
PSO | Solar | Q2 2025 through Q4 2025 | Owned | 443 | ||||||||||||||||||||||
PSO | Wind | Owned | 553 | |||||||||||||||||||||||
SWEPCo | Solar | Q2 2025 through Q4 2025 | Owned/PPA | 273 | ||||||||||||||||||||||
SWEPCo | Wind | Q4 2024 through Q4 2025 | Owned | 799 | ||||||||||||||||||||||
Total Approved Renewable Projects |
Company | Issuance Date | Projected In-Service Dates | Generation Type | Generating Capacity | ||||||||||||||||||||||
(in MWs) | ||||||||||||||||||||||||||
I&M | March 2023 | Year End 2027 | Wind (a) | 800 | ||||||||||||||||||||||
I&M | March 2023 | Year End 2027 | Solar (a)(b) | 850 | ||||||||||||||||||||||
APCo | April 2023 | Year End 2026 | Wind and/or Solar (c)(d) | 800 | ||||||||||||||||||||||
KPCo | September 2023 | Year end 2027 | Wind and/or Solar (e) | 1,300 | ||||||||||||||||||||||
Total Significant RFPs |
Company | Company | Plant Name | Generating Capacity | Net Book Value (a) | Projected Retirement Date | Company | Plant Name | Generating Capacity | Net Book Value (a) | Projected Retirement Date | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(in MWs) | (in millions) | (in MWs) | (in millions) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
AEGCo | AEGCo | Rockport Plant | 1,310 | $ | 302.5 | 2028 | AEGCo | Rockport Plant | 1,310 | $ | 291.7 | 2028 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
APCo | APCo | Amos Plant | 2,930 | 2,136.5 | 2040 | APCo | Amos Plant | 2,930 | 2,136.8 | 2040 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
APCo | APCo | Mountaineer Plant | 1,320 | 970.1 | 2040 | APCo | Mountaineer Plant | 1,320 | 963.9 | 2040 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
I&M | I&M | Rockport Plant | 1,310 | 570.6 | (b) | 2028 | I&M | Rockport Plant | 1,310 | 548.2 | (b) | 2028 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
KPCo | KPCo | Mitchell Plant | 780 | 568.0 | 2040 | KPCo | Mitchell Plant | 780 | 557.0 | 2040 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
SWEPCo | SWEPCo | Flint Creek Plant | 258 | 258.6 | 2038 | SWEPCo | Flint Creek Plant | 258 | 256.6 | 2038 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
WPCo | WPCo | Mitchell Plant | 780 | 668.6 | 2040 | WPCo | Mitchell Plant | 780 | 680.8 | 2040 |
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 | Welsh Plant, Units 1 and 3 | 1,053 | $ | 384.3 | $ | 105.4 | 2028 | (b)(c) | SWEPCo | Welsh Plant, Units 1 and 3 | 1,053 | $ | 368.8 | $ | 115.5 | 2028 | (b)(c) |
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) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
PSO | PSO | Northeastern Plant, Unit 3 | $ | 120.5 | $ | 154.9 | 2026 | (c) | $ | 14.9 | PSO | Northeastern Plant, Unit 3 | $ | 112.5 | $ | 159.5 | 2026 | (c) | $ | 15.0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
SWEPCo | SWEPCo | Pirkey Plant | — | 111.8 | (d) | 2023 | (e) | — | SWEPCo | Pirkey Plant | — | 113.0 | (d) | 2023 | (e) | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
SWEPCo | SWEPCo | Welsh Plant, Units 1 and 3 | 384.3 | 105.4 | 2028 | (f) | (g) | 38.6 | SWEPCo | Welsh Plant, Units 1 and 3 | 368.8 | 115.5 | 2028 | (f) | (g) | 38.6 |
Three Months Ended | Six Months Ended | Three Months Ended | Nine Months Ended | |||||||||||||||||||||||||||||||||||||||||||
June 30, | June 30, | September 30, | September 30, | |||||||||||||||||||||||||||||||||||||||||||
2023 | 2022 | 2023 | 2022 | 2023 | 2022 | 2023 | 2022 | |||||||||||||||||||||||||||||||||||||||
(in millions) | (in millions) | |||||||||||||||||||||||||||||||||||||||||||||
Vertically Integrated Utilities | Vertically Integrated Utilities | $ | 278.1 | $ | 301.2 | $ | 539.1 | $ | 599.4 | Vertically Integrated Utilities | $ | 512.5 | $ | 476.9 | $ | 1,051.6 | $ | 1,076.3 | ||||||||||||||||||||||||||||
Transmission and Distribution Utilities | Transmission and Distribution Utilities | 176.7 | 164.8 | 302.4 | 317.6 | Transmission and Distribution Utilities | 206.0 | 165.5 | 508.4 | 483.1 | ||||||||||||||||||||||||||||||||||||
AEP Transmission Holdco | AEP Transmission Holdco | 196.4 | 141.8 | 377.9 | 314.9 | AEP Transmission Holdco | 202.9 | 170.5 | 580.8 | 485.4 | ||||||||||||||||||||||||||||||||||||
Generation & Marketing | Generation & Marketing | (32.3) | 72.6 | (190.0) | 186.8 | Generation & Marketing | 130.7 | 97.5 | (59.3) | 284.3 | ||||||||||||||||||||||||||||||||||||
Corporate and Other | Corporate and Other | (97.7) | (155.9) | (111.2) | (179.5) | Corporate and Other | (98.4) | (226.7) | (209.6) | (406.2) | ||||||||||||||||||||||||||||||||||||
Earnings Attributable to AEP Common Shareholders | Earnings Attributable to AEP Common Shareholders | $ | 521.2 | $ | 524.5 | $ | 918.2 | $ | 1,239.2 | Earnings Attributable to AEP Common Shareholders | $ | 953.7 | $ | 683.7 | $ | 1,871.9 | $ | 1,922.9 |
Three Months Ended June 30, 2023 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Three Months Ended September 30, 2023 | Three Months Ended September 30, 2023 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Vertically Integrated Utilities | Transmission and Distribution Utilities | AEP Transmission Holdco | Generation & Marketing | Vertically Integrated Utilities | Transmission and Distribution Utilities | AEP Transmission Holdco | Generation & Marketing | |||||||||||||||||||||||||||||||||||||||||||||
(in millions) | (in millions) | |||||||||||||||||||||||||||||||||||||||||||||||||||
Revenues | Revenues | $ | 2,674.5 | $ | 1,340.2 | $ | 458.6 | $ | 331.4 | Revenues | $ | 3,205.4 | $ | 1,544.1 | $ | 476.7 | $ | 566.7 | ||||||||||||||||||||||||||||||||||
Fuel, Purchased Electricity and Other | Fuel, Purchased Electricity and Other | 875.3 | 279.0 | — | 327.1 | Fuel, Purchased Electricity and Other | 1,137.5 | 298.8 | — | 406.6 | ||||||||||||||||||||||||||||||||||||||||||
Gross Margin | Gross Margin | 1,799.2 | 1,061.2 | 458.6 | 4.3 | Gross Margin | 2,067.9 | 1,245.3 | 476.7 | 160.1 | ||||||||||||||||||||||||||||||||||||||||||
Other Operation and Maintenance | Other Operation and Maintenance | 819.1 | 439.7 | 33.9 | 56.2 | Other Operation and Maintenance | 829.4 | 541.1 | 39.3 | 31.2 | ||||||||||||||||||||||||||||||||||||||||||
Depreciation and Amortization | Depreciation and Amortization | 457.1 | 183.1 | 98.5 | 8.2 | Depreciation and Amortization | 480.7 | 206.9 | 101.9 | 8.3 | ||||||||||||||||||||||||||||||||||||||||||
Taxes Other Than Income Taxes | Taxes Other Than Income Taxes | 126.5 | 159.0 | 69.7 | 1.7 | Taxes Other Than Income Taxes | 131.9 | 181.3 | 75.5 | 1.6 | ||||||||||||||||||||||||||||||||||||||||||
Operating Income (Loss) | 396.5 | 279.4 | 256.5 | (61.8) | ||||||||||||||||||||||||||||||||||||||||||||||||
Operating Income | Operating Income | 625.9 | 316.0 | 260.0 | 119.0 | |||||||||||||||||||||||||||||||||||||||||||||||
Other Income | Other Income | 7.1 | 0.8 | 3.0 | 11.7 | Other Income | 5.9 | 0.6 | 2.1 | 11.5 | ||||||||||||||||||||||||||||||||||||||||||
Allowance for Equity Funds Used During Construction | Allowance for Equity Funds Used During Construction | 9.7 | 8.2 | 23.1 | — | Allowance for Equity Funds Used During Construction | 15.0 | 13.4 | 22.7 | — | ||||||||||||||||||||||||||||||||||||||||||
Non-Service Cost Components of Net Periodic Benefit Cost | Non-Service Cost Components of Net Periodic Benefit Cost | 31.5 | 14.0 | 1.5 | 6.5 | Non-Service Cost Components of Net Periodic Benefit Cost | 31.6 | 14.1 | 1.5 | 6.6 | ||||||||||||||||||||||||||||||||||||||||||
Interest Expense | Interest Expense | (195.1) | (88.1) | (52.9) | (26.2) | Interest Expense | (197.1) | (93.8) | (53.6) | (18.7) | ||||||||||||||||||||||||||||||||||||||||||
Income (Loss) Before Income Tax Expense (Benefit) and Equity Earnings (Loss) | 249.7 | 214.3 | 231.2 | (69.8) | ||||||||||||||||||||||||||||||||||||||||||||||||
Income Before Income Tax Expense (Benefit) and Equity Earnings (Loss) | Income Before Income Tax Expense (Benefit) and Equity Earnings (Loss) | 481.3 | 250.3 | 232.7 | 118.4 | |||||||||||||||||||||||||||||||||||||||||||||||
Income Tax Expense (Benefit) | Income Tax Expense (Benefit) | (28.3) | 37.6 | 55.3 | (33.0) | Income Tax Expense (Benefit) | (32.4) | 44.3 | 51.1 | (16.2) | ||||||||||||||||||||||||||||||||||||||||||
Equity Earnings (Loss) of Unconsolidated Subsidiary | Equity Earnings (Loss) of Unconsolidated Subsidiary | 0.4 | — | 21.4 | (1.8) | Equity Earnings (Loss) of Unconsolidated Subsidiary | 0.3 | — | 22.3 | (1.8) | ||||||||||||||||||||||||||||||||||||||||||
Net Income (Loss) | 278.4 | 176.7 | 197.3 | (38.6) | ||||||||||||||||||||||||||||||||||||||||||||||||
Net Income (Loss) Attributable to Noncontrolling Interests | 0.3 | — | 0.9 | (6.3) | ||||||||||||||||||||||||||||||||||||||||||||||||
Earnings (Loss) Attributable to AEP Common Shareholders | $ | 278.1 | $ | 176.7 | $ | 196.4 | $ | (32.3) | ||||||||||||||||||||||||||||||||||||||||||||
Net Income | Net Income | 514.0 | 206.0 | 203.9 | 132.8 | |||||||||||||||||||||||||||||||||||||||||||||||
Net Income Attributable to Noncontrolling Interests | Net Income Attributable to Noncontrolling Interests | 1.5 | — | 1.0 | 2.1 | |||||||||||||||||||||||||||||||||||||||||||||||
Earnings Attributable to AEP Common Shareholders | Earnings Attributable to AEP Common Shareholders | $ | 512.5 | $ | 206.0 | $ | 202.9 | $ | 130.7 |
Three Months Ended June 30, 2022 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Three Months Ended September 30, 2022 | Three Months Ended September 30, 2022 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Vertically Integrated Utilities | Transmission and Distribution Utilities | AEP Transmission Holdco | Generation & Marketing | Vertically Integrated Utilities | Transmission and Distribution Utilities | AEP Transmission Holdco | Generation & Marketing | |||||||||||||||||||||||||||||||||||||||||||||
(in millions) | (in millions) | |||||||||||||||||||||||||||||||||||||||||||||||||||
Revenues | Revenues | $ | 2,648.5 | $ | 1,301.6 | $ | 378.8 | $ | 659.6 | Revenues | $ | 3,226.3 | $ | 1,530.2 | $ | 430.9 | $ | 735.4 | ||||||||||||||||||||||||||||||||||
Fuel, Purchased Electricity and Other | Fuel, Purchased Electricity and Other | 837.8 | 252.7 | — | 519.8 | Fuel, Purchased Electricity and Other | 1,191.9 | 399.5 | — | 566.1 | ||||||||||||||||||||||||||||||||||||||||||
Gross Margin | Gross Margin | 1,810.7 | 1,048.9 | 378.8 | 139.8 | Gross Margin | 2,034.4 | 1,130.7 | 430.9 | 169.3 | ||||||||||||||||||||||||||||||||||||||||||
Other Operation and Maintenance | Other Operation and Maintenance | 779.9 | 441.1 | 36.2 | (6.0) | Other Operation and Maintenance | 834.0 | 503.6 | 46.5 | 44.7 | ||||||||||||||||||||||||||||||||||||||||||
Asset Impairments and Other Related Charges | Asset Impairments and Other Related Charges | 24.9 | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||||
Establishment of 2017-2019 Virginia Triennial Review Regulatory Asset | Establishment of 2017-2019 Virginia Triennial Review Regulatory Asset | (37.0) | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||||
Gain on Sale of Mineral Rights | — | — | — | (116.3) | ||||||||||||||||||||||||||||||||||||||||||||||||
Depreciation and Amortization | Depreciation and Amortization | 504.4 | 187.6 | 87.9 | 22.4 | Depreciation and Amortization | 520.6 | 188.3 | 89.5 | 23.1 | ||||||||||||||||||||||||||||||||||||||||||
Taxes Other Than Income Taxes | Taxes Other Than Income Taxes | 128.6 | 163.8 | 70.1 | 3.1 | Taxes Other Than Income Taxes | 130.1 | 176.7 | 70.5 | 3.1 | ||||||||||||||||||||||||||||||||||||||||||
Operating Income | Operating Income | 397.8 | 256.4 | 184.6 | 236.6 | Operating Income | 561.8 | 262.1 | 224.4 | 98.4 | ||||||||||||||||||||||||||||||||||||||||||
Other Income | Other Income | 10.7 | 2.0 | 0.3 | 6.8 | Other Income | 9.0 | 1.4 | 0.7 | 12.5 | ||||||||||||||||||||||||||||||||||||||||||
Allowance for Equity Funds Used During Construction | Allowance for Equity Funds Used During Construction | 6.3 | 7.0 | 15.3 | — | Allowance for Equity Funds Used During Construction | 6.0 | 9.3 | 20.3 | — | ||||||||||||||||||||||||||||||||||||||||||
Non-Service Cost Components of Net Periodic Benefit Cost | Non-Service Cost Components of Net Periodic Benefit Cost | 27.4 | 11.9 | 1.2 | 5.2 | Non-Service Cost Components of Net Periodic Benefit Cost | 27.4 | 11.9 | 1.3 | 5.1 | ||||||||||||||||||||||||||||||||||||||||||
Interest Expense | Interest Expense | (157.3) | (82.0) | (40.7) | (9.0) | Interest Expense | (168.8) | (85.4) | (44.4) | (16.7) | ||||||||||||||||||||||||||||||||||||||||||
Income Before Income Tax Expense (Benefit) and Equity Earnings (Loss) | Income Before Income Tax Expense (Benefit) and Equity Earnings (Loss) | 284.9 | 195.3 | 160.7 | 239.6 | Income Before Income Tax Expense (Benefit) and Equity Earnings (Loss) | 435.4 | 199.3 | 202.3 | 99.3 | ||||||||||||||||||||||||||||||||||||||||||
Income Tax Expense (Benefit) | Income Tax Expense (Benefit) | (18.0) | 31.3 | 39.4 | (13.5) | Income Tax Expense (Benefit) | (41.2) | 33.8 | 52.1 | (5.1) | ||||||||||||||||||||||||||||||||||||||||||
Equity Earnings (Loss) of Unconsolidated Subsidiary | Equity Earnings (Loss) of Unconsolidated Subsidiary | 0.4 | 0.8 | 21.4 | (187.2) | Equity Earnings (Loss) of Unconsolidated Subsidiary | 0.3 | — | 21.2 | (8.2) | ||||||||||||||||||||||||||||||||||||||||||
Net Income | Net Income | 303.3 | 164.8 | 142.7 | 65.9 | Net Income | 476.9 | 165.5 | 171.4 | 96.2 | ||||||||||||||||||||||||||||||||||||||||||
Net Income (Loss) Attributable to Noncontrolling Interests | Net Income (Loss) Attributable to Noncontrolling Interests | 2.1 | — | 0.9 | (6.7) | Net Income (Loss) Attributable to Noncontrolling Interests | — | — | 0.9 | (1.3) | ||||||||||||||||||||||||||||||||||||||||||
Earnings Attributable to AEP Common Shareholders | Earnings Attributable to AEP Common Shareholders | $ | 301.2 | $ | 164.8 | $ | 141.8 | $ | 72.6 | Earnings Attributable to AEP Common Shareholders | $ | 476.9 | $ | 165.5 | $ | 170.5 | $ | 97.5 |
Six Months Ended June 30, 2023 | ||||||||||||||||||||||||||
Vertically Integrated Utilities | Transmission and Distribution Utilities | AEP Transmission Holdco | Generation & Marketing | |||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||||
Revenues | $ | 5,532.3 | $ | 2,804.4 | $ | 914.1 | $ | 658.4 | ||||||||||||||||||
Fuel, Purchased Electricity and Other | 1,851.5 | 671.7 | — | 709.4 | ||||||||||||||||||||||
Gross Margin | 3,680.8 | 2,132.7 | 914.1 | (51.0) | ||||||||||||||||||||||
Other Operation and Maintenance | 1,651.3 | 931.6 | 70.6 | 99.2 | ||||||||||||||||||||||
Loss on the Expected Sale of the Competitive Contracted Renewable Portfolio | — | — | — | 112.0 | ||||||||||||||||||||||
Depreciation and Amortization | 930.6 | 369.3 | 196.0 | 26.4 | ||||||||||||||||||||||
Taxes Other Than Income Taxes | 258.9 | 337.8 | 146.5 | 4.5 | ||||||||||||||||||||||
Operating Income (Loss) | 840.0 | 494.0 | 501.0 | (293.1) | ||||||||||||||||||||||
Other Income | 14.3 | 1.3 | 4.9 | 20.7 | ||||||||||||||||||||||
Allowance for Equity Funds Used During Construction | 15.5 | 17.3 | 39.5 | — | ||||||||||||||||||||||
Non-Service Cost Components of Net Periodic Benefit Cost | 63.3 | 28.0 | 3.1 | 13.1 | ||||||||||||||||||||||
Interest Expense | (368.0) | (176.2) | (100.1) | (50.5) | ||||||||||||||||||||||
Income (Loss) Before Income Tax Expense (Benefit) and Equity Earnings | 565.1 | 364.4 | 448.4 | (309.8) | ||||||||||||||||||||||
Income Tax Expense (Benefit) | 25.2 | 62.0 | 107.6 | (111.1) | ||||||||||||||||||||||
Equity Earnings of Unconsolidated Subsidiary | 0.7 | — | 38.9 | 3.7 | ||||||||||||||||||||||
Net Income (Loss) | 540.6 | 302.4 | 379.7 | (195.0) | ||||||||||||||||||||||
Net Income (Loss) Attributable to Noncontrolling Interests | 1.5 | — | 1.8 | (5.0) | ||||||||||||||||||||||
Earnings (Loss) Attributable to AEP Common Shareholders | $ | 539.1 | $ | 302.4 | $ | 377.9 | $ | (190.0) |
Nine Months Ended September 30, 2023 | ||||||||||||||||||||||||||
Vertically Integrated Utilities | Transmission and Distribution Utilities | AEP Transmission Holdco | Generation & Marketing | |||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||||
Revenues | $ | 8,737.7 | $ | 4,348.5 | $ | 1,390.8 | $ | 1,225.1 | ||||||||||||||||||
Fuel, Purchased Electricity and Other | 2,989.0 | 970.5 | — | 1,116.0 | ||||||||||||||||||||||
Gross Margin | 5,748.7 | 3,378.0 | 1,390.8 | 109.1 | ||||||||||||||||||||||
Other Operation and Maintenance | 2,480.7 | 1,472.7 | 109.9 | 130.4 | ||||||||||||||||||||||
Loss on the Sale of the Competitive Contracted Renewables Portfolio | — | — | — | 112.0 | ||||||||||||||||||||||
Depreciation and Amortization | 1,411.3 | 576.2 | 297.9 | 34.7 | ||||||||||||||||||||||
Taxes Other Than Income Taxes | 390.8 | 519.1 | 222.0 | 6.1 | ||||||||||||||||||||||
Operating Income (Loss) | 1,465.9 | 810.0 | 761.0 | (174.1) | ||||||||||||||||||||||
Other Income | 20.2 | 1.9 | 7.0 | 32.2 | ||||||||||||||||||||||
Allowance for Equity Funds Used During Construction | 30.5 | 30.7 | 62.2 | — | ||||||||||||||||||||||
Non-Service Cost Components of Net Periodic Benefit Cost | 94.9 | 42.1 | 4.6 | 19.7 | ||||||||||||||||||||||
Interest Expense | (565.1) | (270.0) | (153.7) | (69.2) | ||||||||||||||||||||||
Income (Loss) Before Income Tax Expense (Benefit) and Equity Earnings | 1,046.4 | 614.7 | 681.1 | (191.4) | ||||||||||||||||||||||
Income Tax Expense (Benefit) | (7.2) | 106.3 | 158.7 | (127.3) | ||||||||||||||||||||||
Equity Earnings of Unconsolidated Subsidiary | 1.0 | — | 61.2 | 1.9 | ||||||||||||||||||||||
Net Income (Loss) | 1,054.6 | 508.4 | 583.6 | (62.2) | ||||||||||||||||||||||
Net Income (Loss) Attributable to Noncontrolling Interests | 3.0 | — | 2.8 | (2.9) | ||||||||||||||||||||||
Earnings (Loss) Attributable to AEP Common Shareholders | $ | 1,051.6 | $ | 508.4 | $ | 580.8 | $ | (59.3) |
Six Months Ended June 30, 2022 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Nine Months Ended September 30, 2022 | Nine Months Ended September 30, 2022 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Vertically Integrated Utilities | Transmission and Distribution Utilities | AEP Transmission Holdco | Generation & Marketing | Vertically Integrated Utilities | Transmission and Distribution Utilities | AEP Transmission Holdco | Generation & Marketing | |||||||||||||||||||||||||||||||||||||||||||||
(in millions) | (in millions) | |||||||||||||||||||||||||||||||||||||||||||||||||||
Revenues | Revenues | $ | 5,335.9 | $ | 2,548.4 | $ | 790.2 | $ | 1,278.9 | Revenues | $ | 8,562.2 | $ | 4,078.6 | $ | 1,221.1 | $ | 2,014.3 | ||||||||||||||||||||||||||||||||||
Fuel, Purchased Electricity and Other | Fuel, Purchased Electricity and Other | 1,703.9 | 485.3 | — | 967.9 | Fuel, Purchased Electricity and Other | 2,895.8 | 884.8 | — | 1,534.0 | ||||||||||||||||||||||||||||||||||||||||||
Gross Margin | Gross Margin | 3,632.0 | 2,063.1 | 790.2 | 311.0 | Gross Margin | 5,666.4 | 3,193.8 | 1,221.1 | 480.3 | ||||||||||||||||||||||||||||||||||||||||||
Other Operation and Maintenance | Other Operation and Maintenance | 1,549.1 | 869.6 | 67.9 | 26.5 | Other Operation and Maintenance | 2,383.1 | 1,373.2 | 114.4 | 71.2 | ||||||||||||||||||||||||||||||||||||||||||
Asset Impairments and Other Related Charges | Asset Impairments and Other Related Charges | 24.9 | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||||
Establishment of 2017-2019 Virginia Triennial Review Regulatory Asset | Establishment of 2017-2019 Virginia Triennial Review Regulatory Asset | (37.0) | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||||
Gain on Sale of Mineral Rights | Gain on Sale of Mineral Rights | — | — | — | (116.3) | Gain on Sale of Mineral Rights | — | — | — | (116.3) | ||||||||||||||||||||||||||||||||||||||||||
Depreciation and Amortization | Depreciation and Amortization | 1,004.4 | 371.2 | 173.2 | 45.7 | Depreciation and Amortization | 1,525.0 | 559.5 | 262.7 | 68.8 | ||||||||||||||||||||||||||||||||||||||||||
Taxes Other Than Income Taxes | Taxes Other Than Income Taxes | 253.8 | 328.2 | 137.4 | 6.2 | Taxes Other Than Income Taxes | 383.9 | 504.9 | 207.9 | 9.3 | ||||||||||||||||||||||||||||||||||||||||||
Operating Income | Operating Income | 824.7 | 494.1 | 411.7 | 348.9 | Operating Income | 1,386.5 | 756.2 | 636.1 | 447.3 | ||||||||||||||||||||||||||||||||||||||||||
Other Income | Other Income | 15.9 | 2.3 | 0.4 | 8.9 | Other Income | 24.9 | 3.7 | 1.1 | 21.4 | ||||||||||||||||||||||||||||||||||||||||||
Allowance for Equity Funds Used During Construction | Allowance for Equity Funds Used During Construction | 14.4 | 14.3 | 30.9 | — | Allowance for Equity Funds Used During Construction | 20.4 | 23.6 | 51.2 | — | ||||||||||||||||||||||||||||||||||||||||||
Non-Service Cost Components of Net Periodic Benefit Cost | Non-Service Cost Components of Net Periodic Benefit Cost | 55.0 | 23.8 | 2.5 | 10.3 | Non-Service Cost Components of Net Periodic Benefit Cost | 82.4 | 35.7 | 3.8 | 15.4 | ||||||||||||||||||||||||||||||||||||||||||
Interest Expense | Interest Expense | (308.3) | (156.8) | (79.8) | (14.0) | Interest Expense | (477.1) | (242.2) | (124.2) | (30.7) | ||||||||||||||||||||||||||||||||||||||||||
Income Before Income Tax Expense (Benefit) and Equity Earnings (Loss) | Income Before Income Tax Expense (Benefit) and Equity Earnings (Loss) | 601.7 | 377.7 | 365.7 | 354.1 | Income Before Income Tax Expense (Benefit) and Equity Earnings (Loss) | 1,037.1 | 577.0 | 568.0 | 453.4 | ||||||||||||||||||||||||||||||||||||||||||
Income Tax Expense (Benefit) | Income Tax Expense (Benefit) | (0.1) | 60.9 | 89.8 | (20.2) | Income Tax Expense (Benefit) | (41.3) | 94.7 | 141.9 | (25.3) | ||||||||||||||||||||||||||||||||||||||||||
Equity Earnings (Loss) of Unconsolidated Subsidiary | Equity Earnings (Loss) of Unconsolidated Subsidiary | 0.7 | 0.8 | 40.5 | (192.4) | Equity Earnings (Loss) of Unconsolidated Subsidiary | 1.0 | 0.8 | 61.7 | (200.6) | ||||||||||||||||||||||||||||||||||||||||||
Net Income | Net Income | 602.5 | 317.6 | 316.4 | 181.9 | Net Income | 1,079.4 | 483.1 | 487.8 | 278.1 | ||||||||||||||||||||||||||||||||||||||||||
Net Income (Loss) Attributable to Noncontrolling Interests | Net Income (Loss) Attributable to Noncontrolling Interests | 3.1 | — | 1.5 | (4.9) | Net Income (Loss) Attributable to Noncontrolling Interests | 3.1 | — | 2.4 | (6.2) | ||||||||||||||||||||||||||||||||||||||||||
Earnings Attributable to AEP Common Shareholders | Earnings Attributable to AEP Common Shareholders | $ | 599.4 | $ | 317.6 | $ | 314.9 | $ | 186.8 | Earnings Attributable to AEP Common Shareholders | $ | 1,076.3 | $ | 483.1 | $ | 485.4 | $ | 284.3 |
Three Months Ended | Six Months Ended | Three Months Ended | Nine Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||
June 30, | June 30, | September 30, | September 30, | |||||||||||||||||||||||||||||||||||||||||||||||||
2023 | 2022 | 2023 | 2022 | 2023 | 2022 | 2023 | 2022 | |||||||||||||||||||||||||||||||||||||||||||||
(in millions of KWhs) | (in millions of KWhs) | |||||||||||||||||||||||||||||||||||||||||||||||||||
Retail: | Retail: | Retail: | ||||||||||||||||||||||||||||||||||||||||||||||||||
Residential | Residential | 6,332 | 7,039 | 14,431 | 16,264 | Residential | 8,975 | 9,115 | 23,406 | 25,379 | ||||||||||||||||||||||||||||||||||||||||||
Commercial | Commercial | 5,723 | 5,911 | 11,095 | 11,429 | Commercial | 6,686 | 6,640 | 17,781 | 18,069 | ||||||||||||||||||||||||||||||||||||||||||
Industrial | Industrial | 8,660 | 8,906 | 16,955 | 17,068 | Industrial | 8,731 | 8,862 | 25,686 | 25,930 | ||||||||||||||||||||||||||||||||||||||||||
Miscellaneous | Miscellaneous | 545 | 578 | 1,066 | 1,122 | Miscellaneous | 618 | 623 | 1,684 | 1,745 | ||||||||||||||||||||||||||||||||||||||||||
Total Retail | Total Retail | 21,260 | 22,434 | 43,547 | 45,883 | Total Retail | 25,010 | 25,240 | 68,557 | 71,123 | ||||||||||||||||||||||||||||||||||||||||||
Wholesale (a) | Wholesale (a) | 3,484 | 3,660 | 6,744 | 8,134 | Wholesale (a) | 3,876 | 4,254 | 10,620 | 12,388 | ||||||||||||||||||||||||||||||||||||||||||
Total KWhs | Total KWhs | 24,744 | 26,094 | 50,291 | 54,017 | Total KWhs | 28,886 | 29,494 | 79,177 | 83,511 |
Three Months Ended | Six Months Ended | Three Months Ended | Nine Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||
June 30, | June 30, | September 30, | September 30, | |||||||||||||||||||||||||||||||||||||||||||||||||
2023 | 2022 | 2023 | 2022 | 2023 | 2022 | 2023 | 2022 | |||||||||||||||||||||||||||||||||||||||||||||
(in degree days) | (in degree days) | |||||||||||||||||||||||||||||||||||||||||||||||||||
Eastern Region | Eastern Region | Eastern Region | ||||||||||||||||||||||||||||||||||||||||||||||||||
Actual – Heating (a) | Actual – Heating (a) | 122 | 152 | 1,253 | 1,742 | Actual – Heating (a) | — | 8 | 1,253 | 1,750 | ||||||||||||||||||||||||||||||||||||||||||
Normal – Heating (b) | Normal – Heating (b) | 139 | 140 | 1,747 | 1,744 | Normal – Heating (b) | 3 | 4 | 1,750 | 1,748 | ||||||||||||||||||||||||||||||||||||||||||
Actual – Cooling (c) | Actual – Cooling (c) | 214 | 393 | 219 | 395 | Actual – Cooling (c) | 748 | 783 | 967 | 1,178 | ||||||||||||||||||||||||||||||||||||||||||
Normal – Cooling (b) | Normal – Cooling (b) | 340 | 333 | 344 | 337 | Normal – Cooling (b) | 751 | 745 | 1,095 | 1,082 | ||||||||||||||||||||||||||||||||||||||||||
Western Region | Western Region | Western Region | ||||||||||||||||||||||||||||||||||||||||||||||||||
Actual – Heating (a) | Actual – Heating (a) | 20 | 15 | 657 | 930 | Actual – Heating (a) | — | — | 657 | 930 | ||||||||||||||||||||||||||||||||||||||||||
Normal – Heating (b) | Normal – Heating (b) | 35 | 35 | 916 | 906 | Normal – Heating (b) | — | — | 916 | 906 | ||||||||||||||||||||||||||||||||||||||||||
Actual – Cooling (c) | Actual – Cooling (c) | 744 | 885 | 802 | 905 | Actual – Cooling (c) | 1,634 | 1,653 | 2,436 | 2,558 | ||||||||||||||||||||||||||||||||||||||||||
Normal – Cooling (b) | Normal – Cooling (b) | 704 | 693 | 732 | 721 | Normal – Cooling (b) | 1,430 | 1,413 | 2,162 | 2,134 |
Vertically Integrated Utilities | Vertically Integrated Utilities | Vertically Integrated Utilities | ||||||||||||||||||||||||||
Reconciliation of 2022 to 2023 Earnings Attributable to AEP Common Shareholders | Reconciliation of 2022 to 2023 Earnings Attributable to AEP Common Shareholders | Reconciliation of 2022 to 2023 Earnings Attributable to AEP Common Shareholders | ||||||||||||||||||||||||||
(in millions) | (in millions) | (in millions) | ||||||||||||||||||||||||||
Three Months Ended June 30, | Six Months Ended June 30, | Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||||||||||||
2022 Earnings Attributable to AEP Common Shareholders | 2022 Earnings Attributable to AEP Common Shareholders | $ | 301.2 | $ | 599.4 | 2022 Earnings Attributable to AEP Common Shareholders | $ | 476.9 | $ | 1,076.3 | ||||||||||||||||||
Changes in Gross Margin: | Changes in Gross Margin: | Changes in Gross Margin: | ||||||||||||||||||||||||||
Retail Margins | Retail Margins | (20.0) | 16.5 | Retail Margins | 52.2 | 68.6 | ||||||||||||||||||||||
Margins from Off-system Sales | Margins from Off-system Sales | 20.6 | 47.1 | Margins from Off-system Sales | (14.4) | 32.8 | ||||||||||||||||||||||
Transmission Revenues | Transmission Revenues | (10.6) | (6.1) | Transmission Revenues | (5.5) | (11.6) | ||||||||||||||||||||||
Other Revenues | Other Revenues | (1.5) | (8.7) | Other Revenues | 1.2 | (7.5) | ||||||||||||||||||||||
Total Change in Gross Margin | Total Change in Gross Margin | (11.5) | 48.8 | Total Change in Gross Margin | 33.5 | 82.3 | ||||||||||||||||||||||
Changes in Expenses and Other: | Changes in Expenses and Other: | Changes in Expenses and Other: | ||||||||||||||||||||||||||
Other Operation and Maintenance | Other Operation and Maintenance | (39.2) | (102.2) | Other Operation and Maintenance | 4.6 | (97.6) | ||||||||||||||||||||||
Asset Impairments and Other Related Charges | Asset Impairments and Other Related Charges | 24.9 | 24.9 | |||||||||||||||||||||||||
Establishment of 2017-2019 Virginia Triennial Review Regulatory Asset | Establishment of 2017-2019 Virginia Triennial Review Regulatory Asset | (37.0) | (37.0) | |||||||||||||||||||||||||
Depreciation and Amortization | Depreciation and Amortization | 47.3 | 73.8 | Depreciation and Amortization | 39.9 | 113.7 | ||||||||||||||||||||||
Taxes Other Than Income Taxes | Taxes Other Than Income Taxes | 2.1 | (5.1) | Taxes Other Than Income Taxes | (1.8) | (6.9) | ||||||||||||||||||||||
Other Income | Other Income | (3.6) | (1.6) | Other Income | (3.1) | (4.7) | ||||||||||||||||||||||
Allowance for Equity Funds Used During Construction | Allowance for Equity Funds Used During Construction | 3.4 | 1.1 | Allowance for Equity Funds Used During Construction | 9.0 | 10.1 | ||||||||||||||||||||||
Non-Service Cost Components of Net Periodic Pension Cost | Non-Service Cost Components of Net Periodic Pension Cost | 4.1 | 8.3 | Non-Service Cost Components of Net Periodic Pension Cost | 4.2 | 12.5 | ||||||||||||||||||||||
Interest Expense | Interest Expense | (37.8) | (59.7) | Interest Expense | (28.3) | (88.0) | ||||||||||||||||||||||
Total Change in Expenses and Other | Total Change in Expenses and Other | (23.7) | (85.4) | Total Change in Expenses and Other | 12.4 | (73.0) | ||||||||||||||||||||||
Income Tax Expense | 10.3 | (25.3) | ||||||||||||||||||||||||||
Income Tax Benefit | Income Tax Benefit | (8.8) | (34.1) | |||||||||||||||||||||||||
Net Income Attributable to Noncontrolling Interests | Net Income Attributable to Noncontrolling Interests | 1.8 | 1.6 | Net Income Attributable to Noncontrolling Interests | (1.5) | 0.1 | ||||||||||||||||||||||
2023 Earnings Attributable to AEP Common Shareholders | 2023 Earnings Attributable to AEP Common Shareholders | $ | 278.1 | $ | 539.1 | 2023 Earnings Attributable to AEP Common Shareholders | $ | 512.5 | $ | 1,051.6 |
Three Months Ended | Six Months Ended | Three Months Ended | Nine Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||
June 30, | June 30, | September 30, | September 30, | |||||||||||||||||||||||||||||||||||||||||||||||||
2023 | 2022 | 2023 | 2022 | 2023 | 2022 | 2023 | 2022 | |||||||||||||||||||||||||||||||||||||||||||||
(in millions of KWhs) | (in millions of KWhs) | |||||||||||||||||||||||||||||||||||||||||||||||||||
Retail: | Retail: | Retail: | ||||||||||||||||||||||||||||||||||||||||||||||||||
Residential | Residential | 5,910 | 6,589 | 12,176 | 13,566 | Residential | 8,442 | 8,033 | 20,618 | 21,599 | ||||||||||||||||||||||||||||||||||||||||||
Commercial | Commercial | 7,393 | 6,941 | 14,137 | 12,940 | Commercial | 8,574 | 7,538 | 22,711 | 20,478 | ||||||||||||||||||||||||||||||||||||||||||
Industrial | Industrial | 6,673 | 6,647 | 13,199 | 12,577 | Industrial | 6,601 | 6,554 | 19,800 | 19,131 | ||||||||||||||||||||||||||||||||||||||||||
Miscellaneous | Miscellaneous | 177 | 197 | 345 | 368 | Miscellaneous | 220 | 210 | 565 | 578 | ||||||||||||||||||||||||||||||||||||||||||
Total Retail (a) | Total Retail (a) | 20,153 | 20,374 | 39,857 | 39,451 | Total Retail (a) | 23,837 | 22,335 | 63,694 | 61,786 | ||||||||||||||||||||||||||||||||||||||||||
Wholesale (b) | Wholesale (b) | 428 | 565 | 881 | 1,136 | Wholesale (b) | 485 | 587 | 1,366 | 1,723 | ||||||||||||||||||||||||||||||||||||||||||
Total KWhs | Total KWhs | 20,581 | 20,939 | 40,738 | 40,587 | Total KWhs | 24,322 | 22,922 | 65,060 | 63,509 |
Three Months Ended | Six Months Ended | Three Months Ended | Nine Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||
June 30, | June 30, | September 30, | September 30, | |||||||||||||||||||||||||||||||||||||||||||||||||
2023 | 2022 | 2023 | 2022 | 2023 | 2022 | 2023 | 2022 | |||||||||||||||||||||||||||||||||||||||||||||
(in degree days) | (in degree days) | |||||||||||||||||||||||||||||||||||||||||||||||||||
Eastern Region | Eastern Region | Eastern Region | ||||||||||||||||||||||||||||||||||||||||||||||||||
Actual – Heating (a) | Actual – Heating (a) | 177 | 206 | 1,521 | 2,070 | Actual – Heating (a) | — | 8 | 1,521 | 2,078 | ||||||||||||||||||||||||||||||||||||||||||
Normal – Heating (b) | Normal – Heating (b) | 185 | 186 | 2,076 | 2,072 | Normal – Heating (b) | 4 | 5 | 2,080 | 2,077 | ||||||||||||||||||||||||||||||||||||||||||
Actual – Cooling (c) | Actual – Cooling (c) | 184 | 359 | 184 | 360 | Actual – Cooling (c) | 625 | 755 | 809 | 1,115 | ||||||||||||||||||||||||||||||||||||||||||
Normal – Cooling (b) | Normal – Cooling (b) | 305 | 298 | 308 | 301 | Normal – Cooling (b) | 697 | 688 | 1,005 | 989 | ||||||||||||||||||||||||||||||||||||||||||
Western Region | Western Region | Western Region | ||||||||||||||||||||||||||||||||||||||||||||||||||
Actual – Heating (a) | Actual – Heating (a) | 2 | — | 143 | 278 | Actual – Heating (a) | — | — | 143 | 278 | ||||||||||||||||||||||||||||||||||||||||||
Normal – Heating (b) | Normal – Heating (b) | 3 | 3 | 197 | 193 | Normal – Heating (b) | — | — | 197 | 193 | ||||||||||||||||||||||||||||||||||||||||||
Actual – Cooling (d) | Actual – Cooling (d) | 955 | 1,135 | 1,226 | 1,223 | Actual – Cooling (d) | 1,719 | 1,478 | 2,945 | 2,701 | ||||||||||||||||||||||||||||||||||||||||||
Normal – Cooling (b) | Normal – Cooling (b) | 940 | 925 | 1,067 | 1,051 | Normal – Cooling (b) | 1,387 | 1,382 | 2,454 | 2,433 |
Transmission and Distribution Utilities | Transmission and Distribution Utilities | Transmission and Distribution Utilities | ||||||||||||||||||||||||||
Reconciliation of 2022 to 2023 Earnings Attributable to AEP Common Shareholders | Reconciliation of 2022 to 2023 Earnings Attributable to AEP Common Shareholders | Reconciliation of 2022 to 2023 Earnings Attributable to AEP Common Shareholders | ||||||||||||||||||||||||||
(in millions) | (in millions) | (in millions) | ||||||||||||||||||||||||||
Three Months Ended June 30, | Six Months Ended June 30, | Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||||||||||||
2022 Earnings Attributable to AEP Common Shareholders | 2022 Earnings Attributable to AEP Common Shareholders | $ | 164.8 | $ | 317.6 | 2022 Earnings Attributable to AEP Common Shareholders | $ | 165.5 | $ | 483.1 | ||||||||||||||||||
Changes in Gross Margin: | Changes in Gross Margin: | Changes in Gross Margin: | ||||||||||||||||||||||||||
Retail Margins | Retail Margins | (23.2) | (1.2) | Retail Margins | 99.3 | 98.1 | ||||||||||||||||||||||
Margins from Off-system Sales | Margins from Off-system Sales | 17.3 | 41.4 | Margins from Off-system Sales | (5.5) | 35.9 | ||||||||||||||||||||||
Transmission Revenues | Transmission Revenues | 21.4 | 33.7 | Transmission Revenues | 16.7 | 50.3 | ||||||||||||||||||||||
Other Revenues | Other Revenues | (3.2) | (4.3) | Other Revenues | 4.1 | (0.1) | ||||||||||||||||||||||
Total Change in Gross Margin | Total Change in Gross Margin | 12.3 | 69.6 | Total Change in Gross Margin | 114.6 | 184.2 | ||||||||||||||||||||||
Changes in Expenses and Other: | Changes in Expenses and Other: | Changes in Expenses and Other: | ||||||||||||||||||||||||||
Other Operation and Maintenance | Other Operation and Maintenance | 1.4 | (62.0) | Other Operation and Maintenance | (37.5) | (99.5) | ||||||||||||||||||||||
Depreciation and Amortization | Depreciation and Amortization | 4.5 | 1.9 | Depreciation and Amortization | (18.6) | (16.7) | ||||||||||||||||||||||
Taxes Other Than Income Taxes | Taxes Other Than Income Taxes | 4.8 | (9.6) | Taxes Other Than Income Taxes | (4.6) | (14.2) | ||||||||||||||||||||||
Other Income | Other Income | (1.2) | (1.0) | Other Income | (0.8) | (1.8) | ||||||||||||||||||||||
Allowance for Equity Funds Used During Construction | Allowance for Equity Funds Used During Construction | 1.2 | 3.0 | Allowance for Equity Funds Used During Construction | 4.1 | 7.1 | ||||||||||||||||||||||
Non-Service Cost Components of Net Periodic Benefit Cost | Non-Service Cost Components of Net Periodic Benefit Cost | 2.1 | 4.2 | Non-Service Cost Components of Net Periodic Benefit Cost | 2.2 | 6.4 | ||||||||||||||||||||||
Interest Expense | Interest Expense | (6.1) | (19.4) | Interest Expense | (8.4) | (27.8) | ||||||||||||||||||||||
Total Change in Expenses and Other | Total Change in Expenses and Other | 6.7 | (82.9) | Total Change in Expenses and Other | (63.6) | (146.5) | ||||||||||||||||||||||
Income Tax Expense | Income Tax Expense | (6.3) | (1.1) | Income Tax Expense | (10.5) | (11.6) | ||||||||||||||||||||||
Equity Earnings of Unconsolidated Subsidiary | Equity Earnings of Unconsolidated Subsidiary | (0.8) | (0.8) | Equity Earnings of Unconsolidated Subsidiary | — | (0.8) | ||||||||||||||||||||||
2023 Earnings Attributable to AEP Common Shareholders | 2023 Earnings Attributable to AEP Common Shareholders | $ | 176.7 | $ | 302.4 | 2023 Earnings Attributable to AEP Common Shareholders | $ | 206.0 | $ | 508.4 |
June 30, | September 30, | |||||||||||||||||||||||||||
2023 | 2022 | 2023 | 2022 | |||||||||||||||||||||||||
(in millions) | (in millions) | |||||||||||||||||||||||||||
Plant in Service | Plant in Service | $ | 13,674.6 | $ | 12,234.0 | Plant in Service | $ | 14,042.9 | $ | 12,628.6 | ||||||||||||||||||
Construction Work in Progress | Construction Work in Progress | 2,049.0 | 1,794.6 | Construction Work in Progress | 2,037.0 | 1,760.3 | ||||||||||||||||||||||
Accumulated Depreciation and Amortization | Accumulated Depreciation and Amortization | 1,189.3 | 933.1 | Accumulated Depreciation and Amortization | 1,261.2 | 1,000.3 | ||||||||||||||||||||||
Total Transmission Property, Net | Total Transmission Property, Net | $ | 14,534.3 | $ | 13,095.5 | Total Transmission Property, Net | $ | 14,818.7 | $ | 13,388.6 |
AEP Transmission Holdco | AEP Transmission Holdco | AEP Transmission Holdco | ||||||||||||||||||||||||||
Reconciliation of 2022 to 2023 Earnings Attributable to AEP Common Shareholders | Reconciliation of 2022 to 2023 Earnings Attributable to AEP Common Shareholders | Reconciliation of 2022 to 2023 Earnings Attributable to AEP Common Shareholders | ||||||||||||||||||||||||||
(in millions) | (in millions) | (in millions) | ||||||||||||||||||||||||||
Three Months Ended June 30, | Six Months Ended June 30, | Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||||||||||||
2022 Earnings Attributable to AEP Common Shareholders | 2022 Earnings Attributable to AEP Common Shareholders | $ | 141.8 | $ | 314.9 | 2022 Earnings Attributable to AEP Common Shareholders | $ | 170.5 | $ | 485.4 | ||||||||||||||||||
Changes in Transmission Revenues: | Changes in Transmission Revenues: | Changes in Transmission Revenues: | ||||||||||||||||||||||||||
Transmission Revenues | Transmission Revenues | 79.8 | 123.9 | Transmission Revenues | 45.8 | 169.7 | ||||||||||||||||||||||
Total Change in Transmission Revenues | Total Change in Transmission Revenues | 79.8 | 123.9 | Total Change in Transmission Revenues | 45.8 | 169.7 | ||||||||||||||||||||||
Changes in Expenses and Other: | Changes in Expenses and Other: | Changes in Expenses and Other: | ||||||||||||||||||||||||||
Other Operation and Maintenance | Other Operation and Maintenance | 2.3 | (2.7) | Other Operation and Maintenance | 7.2 | 4.5 | ||||||||||||||||||||||
Depreciation and Amortization | Depreciation and Amortization | (10.6) | (22.8) | Depreciation and Amortization | (12.4) | (35.2) | ||||||||||||||||||||||
Taxes Other Than Income Taxes | Taxes Other Than Income Taxes | 0.4 | (9.1) | Taxes Other Than Income Taxes | (5.0) | (14.1) | ||||||||||||||||||||||
Interest and Investment Income | Interest and Investment Income | 2.7 | 4.5 | Interest and Investment Income | 1.4 | 5.9 | ||||||||||||||||||||||
Allowance for Equity Funds Used During Construction | Allowance for Equity Funds Used During Construction | 7.8 | 8.6 | Allowance for Equity Funds Used During Construction | 2.4 | 11.0 | ||||||||||||||||||||||
Non-Service Cost Components of Net Periodic Pension Cost | Non-Service Cost Components of Net Periodic Pension Cost | 0.3 | 0.6 | Non-Service Cost Components of Net Periodic Pension Cost | 0.2 | 0.8 | ||||||||||||||||||||||
Interest Expense | Interest Expense | (12.2) | (20.3) | Interest Expense | (9.2) | (29.5) | ||||||||||||||||||||||
Total Change in Expenses and Other | Total Change in Expenses and Other | (9.3) | (41.2) | Total Change in Expenses and Other | (15.4) | (56.6) | ||||||||||||||||||||||
Income Tax Expense | Income Tax Expense | (15.9) | (17.8) | Income Tax Expense | 1.0 | (16.8) | ||||||||||||||||||||||
Equity Earnings of Unconsolidated Subsidiary | Equity Earnings of Unconsolidated Subsidiary | — | (1.6) | Equity Earnings of Unconsolidated Subsidiary | 1.1 | (0.5) | ||||||||||||||||||||||
Net Income Attributable to Noncontrolling Interests | Net Income Attributable to Noncontrolling Interests | — | (0.3) | Net Income Attributable to Noncontrolling Interests | (0.1) | (0.4) | ||||||||||||||||||||||
2023 Earnings Attributable to AEP Common Shareholders | 2023 Earnings Attributable to AEP Common Shareholders | $ | 196.4 | $ | 377.9 | 2023 Earnings Attributable to AEP Common Shareholders | $ | 202.9 | $ | 580.8 |
Generation & Marketing | Generation & Marketing | Generation & Marketing | ||||||||||||||||||||||||||
Reconciliation of 2022 to 2023 Earnings Attributable to AEP Common Shareholders | ||||||||||||||||||||||||||||
Reconciliation of 2022 to 2023 Earnings (Loss) Attributable to AEP Common Shareholders | Reconciliation of 2022 to 2023 Earnings (Loss) Attributable to AEP Common Shareholders | |||||||||||||||||||||||||||
(in millions) | (in millions) | (in millions) | ||||||||||||||||||||||||||
Three Months Ended June 30, | Six Months Ended June 30, | Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||||||||||||
2022 Earnings Attributable to AEP Common Shareholders | 2022 Earnings Attributable to AEP Common Shareholders | $ | 72.6 | $ | 186.8 | 2022 Earnings Attributable to AEP Common Shareholders | $ | 97.5 | $ | 284.3 | ||||||||||||||||||
Changes in Gross Margin: | Changes in Gross Margin: | Changes in Gross Margin: | ||||||||||||||||||||||||||
Merchant Generation | Merchant Generation | (4.6) | (4.5) | Merchant Generation | 12.5 | 7.9 | ||||||||||||||||||||||
Renewable Generation | Renewable Generation | (6.8) | (8.6) | Renewable Generation | (26.3) | (34.8) | ||||||||||||||||||||||
Retail, Trading and Marketing | Retail, Trading and Marketing | (124.1) | (348.9) | Retail, Trading and Marketing | 4.6 | (344.3) | ||||||||||||||||||||||
Total Change in Gross Margin | Total Change in Gross Margin | (135.5) | (362.0) | Total Change in Gross Margin | (9.2) | (371.2) | ||||||||||||||||||||||
Changes in Expenses and Other: | Changes in Expenses and Other: | Changes in Expenses and Other: | ||||||||||||||||||||||||||
Other Operation and Maintenance | Other Operation and Maintenance | (62.2) | (72.7) | Other Operation and Maintenance | 13.5 | (59.2) | ||||||||||||||||||||||
Loss on the Expected Sale of the Competitive Contracted Renewable Portfolio | — | (112.0) | ||||||||||||||||||||||||||
Loss on the Sale of the Competitive Contracted Renewables Portfolio | Loss on the Sale of the Competitive Contracted Renewables Portfolio | — | (112.0) | |||||||||||||||||||||||||
Gain on Sale of Mineral Rights | Gain on Sale of Mineral Rights | (116.3) | (116.3) | Gain on Sale of Mineral Rights | — | (116.3) | ||||||||||||||||||||||
Depreciation and Amortization | Depreciation and Amortization | 14.2 | 19.3 | Depreciation and Amortization | 14.8 | 34.1 | ||||||||||||||||||||||
Taxes Other Than Income Taxes | Taxes Other Than Income Taxes | 1.4 | 1.7 | Taxes Other Than Income Taxes | 1.5 | 3.2 | ||||||||||||||||||||||
Interest and Investment Income | Interest and Investment Income | 4.9 | 11.8 | Interest and Investment Income | (1.0) | 10.8 | ||||||||||||||||||||||
Non-Service Cost Components of Net Periodic Benefit Cost | Non-Service Cost Components of Net Periodic Benefit Cost | 1.3 | 2.8 | Non-Service Cost Components of Net Periodic Benefit Cost | 1.5 | 4.3 | ||||||||||||||||||||||
Interest Expense | Interest Expense | (17.2) | (36.5) | Interest Expense | (2.0) | (38.5) | ||||||||||||||||||||||
Total Change in Expenses and Other | Total Change in Expenses and Other | (173.9) | (301.9) | Total Change in Expenses and Other | 28.3 | (273.6) | ||||||||||||||||||||||
Income Tax Benefit | Income Tax Benefit | 19.5 | 90.9 | Income Tax Benefit | 11.1 | 102.0 | ||||||||||||||||||||||
Equity Earnings (Loss) of Unconsolidated Subsidiaries | 185.4 | 196.1 | ||||||||||||||||||||||||||
Equity Earnings of Unconsolidated Subsidiaries | Equity Earnings of Unconsolidated Subsidiaries | 6.4 | 202.5 | |||||||||||||||||||||||||
Net Loss Attributable to Noncontrolling Interests | Net Loss Attributable to Noncontrolling Interests | (0.4) | 0.1 | Net Loss Attributable to Noncontrolling Interests | (3.4) | (3.3) | ||||||||||||||||||||||
2023 Earnings Attributable to AEP Common Shareholders | $ | (32.3) | $ | (190.0) | ||||||||||||||||||||||||
2023 Earnings (Loss) Attributable to AEP Common Shareholders | 2023 Earnings (Loss) Attributable to AEP Common Shareholders | $ | 130.7 | $ | (59.3) |
June 30, 2023 | December 31, 2022 | September 30, 2023 | December 31, 2022 | |||||||||||||||||||||||||||||||||||||||||||
(dollars in millions) | (dollars in millions) | |||||||||||||||||||||||||||||||||||||||||||||
Long-term Debt, including amounts due within one year | Long-term Debt, including amounts due within one year | $ | 40,142.3 | 58.9 | % | $ | 36,801.0 | 56.6 | % | Long-term Debt, including amounts due within one year | $ | 39,489.1 | 58.4 | % | $ | 36,801.0 | 56.6 | % | ||||||||||||||||||||||||||||
Short-term Debt | Short-term Debt | 3,867.6 | 5.7 | 4,112.2 | 6.3 | Short-term Debt | 2,730.4 | 4.0 | 4,112.2 | 6.3 | ||||||||||||||||||||||||||||||||||||
Total Debt | Total Debt | 44,009.9 | 64.6 | 40,913.2 | 62.9 | Total Debt | 42,219.5 | 62.4 | 40,913.2 | 62.9 | ||||||||||||||||||||||||||||||||||||
AEP Common Equity | AEP Common Equity | 23,901.4 | 35.1 | 23,893.4 | 36.7 | AEP Common Equity | 25,309.7 | 37.5 | 23,893.4 | 36.7 | ||||||||||||||||||||||||||||||||||||
Noncontrolling Interests | Noncontrolling Interests | 222.2 | 0.3 | 229.0 | 0.4 | Noncontrolling Interests | 39.9 | 0.1 | 229.0 | 0.4 | ||||||||||||||||||||||||||||||||||||
Total Debt and Equity Capitalization | Total Debt and Equity Capitalization | $ | 68,133.5 | 100.0 | % | $ | 65,035.6 | 100.0 | % | Total Debt and Equity Capitalization | $ | 67,569.1 | 100.0 | % | $ | 65,035.6 | 100.0 | % |
Amount | Maturity | ||||||||||||||||
Commercial Paper Backup: | (in millions) | ||||||||||||||||
Revolving Credit Facility | $ | 4,000.0 | March 2027 | ||||||||||||||
Revolving Credit Facility | 1,000.0 | March 2025 | |||||||||||||||
Cash and Cash Equivalents | |||||||||||||||||
Total Liquidity Sources | |||||||||||||||||
Less: | AEP Commercial Paper Outstanding | ||||||||||||||||
Net Available Liquidity | $ |
Six Months Ended June 30, | Nine Months Ended September 30, | |||||||||||||||||||||
2023 | 2022 | 2023 | 2022 | |||||||||||||||||||
(in millions) | (in millions) | |||||||||||||||||||||
Cash, Cash Equivalents and Restricted Cash at Beginning of Period | Cash, Cash Equivalents and Restricted Cash at Beginning of Period | $ | 556.5 | $ | 451.4 | Cash, Cash Equivalents and Restricted Cash at Beginning of Period | $ | 556.5 | $ | 451.4 | ||||||||||||
Net Cash Flows from Operating Activities | Net Cash Flows from Operating Activities | 1,881.6 | 2,990.7 | Net Cash Flows from Operating Activities | 3,675.7 | 4,733.2 | ||||||||||||||||
Net Cash Flows Used for Investing Activities | Net Cash Flows Used for Investing Activities | (4,265.5) | (4,199.0) | Net Cash Flows Used for Investing Activities | (4,643.5) | (5,822.5) | ||||||||||||||||
Net Cash Flows from Financing Activities | Net Cash Flows from Financing Activities | 2,178.1 | 1,378.1 | Net Cash Flows from Financing Activities | 818.4 | 1,215.2 | ||||||||||||||||
Net Increase (Decrease) in Cash and Cash Equivalents | Net Increase (Decrease) in Cash and Cash Equivalents | (205.8) | 169.8 | Net Increase (Decrease) in Cash and Cash Equivalents | (149.4) | 125.9 | ||||||||||||||||
Cash, Cash Equivalents and Restricted Cash at End of Period | Cash, Cash Equivalents and Restricted Cash at End of Period | $ | 350.7 | $ | 621.2 | Cash, Cash Equivalents and Restricted Cash at End of Period | $ | 407.1 | $ | 577.3 |
Six Months Ended June 30, | Nine Months Ended September 30, | |||||||||||||||||||||
2023 | 2022 | 2023 | 2022 | |||||||||||||||||||
(in millions) | (in millions) | |||||||||||||||||||||
Net Income | Net Income | $ | 916.5 | $ | 1,238.9 | Net Income | $ | 1,874.8 | $ | 1,922.2 | ||||||||||||
Non-Cash Adjustments to Net Income (a) | Non-Cash Adjustments to Net Income (a) | 1,692.6 | 1,694.8 | Non-Cash Adjustments to Net Income (a) | 2,469.5 | 2,661.1 | ||||||||||||||||
Mark-to-Market of Risk Management Contracts | Mark-to-Market of Risk Management Contracts | (124.7) | 431.4 | Mark-to-Market of Risk Management Contracts | (82.8) | 162.3 | ||||||||||||||||
Property Taxes | Property Taxes | 202.7 | 191.6 | Property Taxes | 486.1 | 459.9 | ||||||||||||||||
Deferred Fuel Over/Under-Recovery, Net | Deferred Fuel Over/Under-Recovery, Net | 342.5 | (599.5) | Deferred Fuel Over/Under-Recovery, Net | 542.8 | (148.7) | ||||||||||||||||
Change in Other Noncurrent Assets | Change in Other Noncurrent Assets | (375.5) | (49.3) | Change in Other Noncurrent Assets | (396.8) | (6.0) | ||||||||||||||||
Change in Other Noncurrent Liabilities | Change in Other Noncurrent Liabilities | (55.4) | 144.5 | Change in Other Noncurrent Liabilities | (21.5) | 324.0 | ||||||||||||||||
Change in Certain Components of Working Capital | Change in Certain Components of Working Capital | (717.1) | (61.7) | Change in Certain Components of Working Capital | (1,196.4) | (641.6) | ||||||||||||||||
Net Cash Flows from Operating Activities | Net Cash Flows from Operating Activities | $ | 1,881.6 | $ | 2,990.7 | Net Cash Flows from Operating Activities | $ | 3,675.7 | $ | 4,733.2 |
Six Months Ended June 30, | Nine Months Ended September 30, | |||||||||||||||||||||
2023 | 2022 | 2023 | 2022 | |||||||||||||||||||
(in millions) | (in millions) | |||||||||||||||||||||
Construction Expenditures | Construction Expenditures | $ | (4,049.7) | $ | (3,138.1) | Construction Expenditures | $ | (5,767.1) | $ | (4,748.5) | ||||||||||||
Acquisitions of Nuclear Fuel | Acquisitions of Nuclear Fuel | (73.9) | (67.7) | Acquisitions of Nuclear Fuel | (60.9) | (91.9) | ||||||||||||||||
Acquisitions of Renewable Energy Facilities | Acquisitions of Renewable Energy Facilities | (145.7) | (1,207.3) | Acquisitions of Renewable Energy Facilities | (154.0) | (1,207.3) | ||||||||||||||||
Proceeds from Sale of Assets | Proceeds from Sale of Assets | 1.0 | 208.5 | Proceeds from Sale of Assets | 1,335.6 | 215.7 | ||||||||||||||||
Other | Other | 2.8 | 5.6 | Other | 2.9 | 9.5 | ||||||||||||||||
Net Cash Flows Used for Investing Activities | Net Cash Flows Used for Investing Activities | $ | (4,265.5) | $ | (4,199.0) | Net Cash Flows Used for Investing Activities | $ | (4,643.5) | $ | (5,822.5) |
Six Months Ended June 30, | Nine Months Ended September 30, | |||||||||||||||||||||
2023 | 2022 | 2023 | 2022 | |||||||||||||||||||
(in millions) | (in millions) | |||||||||||||||||||||
Issuance of Common Stock | Issuance of Common Stock | $ | 77.6 | $ | 812.7 | Issuance of Common Stock | $ | 959.3 | $ | 827.2 | ||||||||||||
Issuance/Retirement of Debt, Net | Issuance/Retirement of Debt, Net | 3,072.5 | 1,572.7 | Issuance/Retirement of Debt, Net | 1,282.7 | 1,837.6 | ||||||||||||||||
Dividends Paid on Common Stock | Dividends Paid on Common Stock | (863.6) | (803.5) | Dividends Paid on Common Stock | (1,293.8) | (1,212.5) | ||||||||||||||||
Other | Other | (108.4) | (203.8) | Other | (129.8) | (237.1) | ||||||||||||||||
Net Cash Flows from Financing Activities | Net Cash Flows from Financing Activities | $ | 2,178.1 | $ | 1,378.1 | Net Cash Flows from Financing Activities | $ | 818.4 | $ | 1,215.2 |
MTM Risk Management Contract Net Assets (Liabilities) | MTM Risk Management Contract Net Assets (Liabilities) | MTM Risk Management Contract Net Assets (Liabilities) | ||||||||||||||||||||||||||||||||||||||||||||
Six Months Ended June 30, 2023 | ||||||||||||||||||||||||||||||||||||||||||||||
Nine Months Ended September 30, 2023 | Nine Months Ended September 30, 2023 | |||||||||||||||||||||||||||||||||||||||||||||
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, 2022 | Total MTM Risk Management Contract Net Assets (Liabilities) as of December 31, 2022 | $ | 134.7 | $ | (40.0) | $ | 360.5 | $ | 455.2 | Total MTM Risk Management Contract Net Assets (Liabilities) as of December 31, 2022 | $ | 134.7 | $ | (40.0) | $ | 360.5 | $ | 455.2 | ||||||||||||||||||||||||||||
(Gain)/Loss from Contracts Realized/Settled During the Period and Entered in a Prior Period | (Gain)/Loss from Contracts Realized/Settled During the Period and Entered in a Prior Period | (145.5) | 0.5 | (112.4) | (257.4) | (Gain)/Loss from Contracts Realized/Settled During the Period and Entered in a Prior Period | (136.6) | 1.1 | (150.6) | (286.1) | ||||||||||||||||||||||||||||||||||||
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) | — | — | 1.5 | 1.5 | Fair Value of New Contracts at Inception When Entered During the Period (a) | — | — | 1.5 | 1.5 | ||||||||||||||||||||||||||||||||||||
Changes in Fair Value Due to Market Fluctuations During the Period (b) | Changes in Fair Value Due to Market Fluctuations During the Period (b) | 11.7 | — | (198.2) | (186.5) | Changes in Fair Value Due to Market Fluctuations During the Period (b) | 2.1 | — | (45.9) | (43.8) | ||||||||||||||||||||||||||||||||||||
Changes in Fair Value Allocated to Regulated Jurisdictions (c) | Changes in Fair Value Allocated to Regulated Jurisdictions (c) | 140.6 | (15.4) | — | 125.2 | Changes in Fair Value Allocated to Regulated Jurisdictions (c) | 111.0 | (11.9) | — | 99.1 | ||||||||||||||||||||||||||||||||||||
Total MTM Risk Management Contract Net Assets (Liabilities) as of June 30, 2023 | $ | 141.5 | $ | (54.9) | $ | 51.4 | 138.0 | |||||||||||||||||||||||||||||||||||||||
Total MTM Risk Management Contract Net Assets (Liabilities) as of September 30, 2023 | Total MTM Risk Management Contract Net Assets (Liabilities) as of September 30, 2023 | $ | 111.2 | $ | (50.8) | $ | 165.5 | 225.9 | ||||||||||||||||||||||||||||||||||||||
Commodity Cash Flow Hedge Contracts | Commodity Cash Flow Hedge Contracts | 119.0 | Commodity Cash Flow Hedge Contracts | 127.8 | ||||||||||||||||||||||||||||||||||||||||||
Fair Value Hedge Contracts | Fair Value Hedge Contracts | (124.7) | Fair Value Hedge Contracts | (138.1) | ||||||||||||||||||||||||||||||||||||||||||
Collateral Deposits | Collateral Deposits | (37.5) | Collateral Deposits | (92.6) | ||||||||||||||||||||||||||||||||||||||||||
Total MTM Derivative Contract Net Assets as of June 30, 2023 | $ | 94.8 | ||||||||||||||||||||||||||||||||||||||||||||
Total MTM Derivative Contract Net Assets as of September 30, 2023 | Total MTM Derivative Contract Net Assets as of September 30, 2023 | $ | 123.0 |
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 | $ | 396.9 | $ | 72.5 | $ | 324.4 | 3 | $ | 142.2 | Investment Grade | $ | 411.1 | $ | 83.6 | $ | 327.5 | 2 | $ | 123.3 | ||||||||||||||||||||||||||||||||||||||||||||
Split Rating | Split Rating | 32.7 | — | 32.7 | 1 | 32.7 | Split Rating | 20.6 | — | 20.6 | 1 | 20.6 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
No External Ratings: | No External Ratings: | No External Ratings: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Internal Investment Grade | Internal Investment Grade | 40.4 | — | 40.4 | 3 | 25.1 | Internal Investment Grade | 53.3 | 23.1 | 30.2 | 2 | 15.3 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Internal Noninvestment Grade | Internal Noninvestment Grade | 2.3 | 0.7 | 1.6 | 3 | 1.6 | Internal Noninvestment Grade | 46.7 | 25.7 | 21.0 | 1 | 17.5 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Total as of June 30, 2023 | $ | 472.3 | $ | 73.2 | $ | 399.1 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total as of September 30, 2023 | Total as of September 30, 2023 | $ | 531.7 | $ | 132.4 | $ | 399.3 |
Six Months Ended | Twelve Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
June 30, 2023 | December 31, 2022 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Nine Months Ended | Nine Months Ended | Twelve Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
September 30, 2023 | September 30, 2023 | December 31, 2022 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
$ | 0.2 | $ | 0.9 | $ | 0.3 | $ | 0.1 | $ | 0.5 | $ | 4.5 | $ | 0.7 | $ | 0.1 | 0.1 | $ | 0.9 | $ | 0.2 | $ | 0.1 | $ | 0.5 | $ | 4.5 | $ | 0.7 | $ | 0.1 |
Six Months Ended | Twelve Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
June 30, 2023 | December 31, 2022 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Nine Months Ended | Nine Months Ended | Twelve Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
September 30, 2023 | September 30, 2023 | December 31, 2022 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
$ | 25.0 | $ | 32.7 | $ | 15.2 | $ | 6.1 | $ | 17.7 | $ | 76.9 | $ | 24.7 | $ | 6.7 | 13.1 | $ | 32.7 | $ | 16.4 | $ | 6.1 | $ | 17.7 | $ | 76.9 | $ | 24.7 | $ | 6.7 |
Three Months Ended | Six Months Ended | Three Months Ended | Nine Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||
June 30, | June 30, | September 30, | September 30, | |||||||||||||||||||||||||||||||||||||||||||||||||
2023 | 2022 | 2023 | 2022 | 2023 | 2022 | 2023 | 2022 | |||||||||||||||||||||||||||||||||||||||||||||
REVENUES | REVENUES | REVENUES | ||||||||||||||||||||||||||||||||||||||||||||||||||
Vertically Integrated Utilities | Vertically Integrated Utilities | $ | 2,629.0 | $ | 2,595.0 | $ | 5,445.3 | $ | 5,241.8 | Vertically Integrated Utilities | $ | 3,158.1 | $ | 3,174.6 | $ | 8,603.4 | $ | 8,416.4 | ||||||||||||||||||||||||||||||||||
Transmission and Distribution Utilities | Transmission and Distribution Utilities | 1,330.8 | 1,296.8 | 2,786.1 | 2,539.0 | Transmission and Distribution Utilities | 1,535.2 | 1,525.5 | 4,321.3 | 4,064.5 | ||||||||||||||||||||||||||||||||||||||||||
Generation & Marketing | Generation & Marketing | 318.2 | 654.4 | 645.1 | 1,263.9 | Generation & Marketing | 527.5 | 733.1 | 1,172.6 | 1,997.0 | ||||||||||||||||||||||||||||||||||||||||||
Other Revenues | Other Revenues | 94.5 | 93.5 | 186.9 | 187.6 | Other Revenues | 120.9 | 92.9 | 307.8 | 280.5 | ||||||||||||||||||||||||||||||||||||||||||
TOTAL REVENUES | TOTAL REVENUES | 4,372.5 | 4,639.7 | 9,063.4 | 9,232.3 | TOTAL REVENUES | 5,341.7 | 5,526.1 | 14,405.1 | 14,758.4 | ||||||||||||||||||||||||||||||||||||||||||
EXPENSES | EXPENSES | EXPENSES | ||||||||||||||||||||||||||||||||||||||||||||||||||
Purchased Electricity, Fuel and Other Consumables Used for Electric Generation | Purchased Electricity, Fuel and Other Consumables Used for Electric Generation | 1,424.6 | 1,564.4 | 3,131.0 | 3,065.1 | Purchased Electricity, Fuel and Other Consumables Used for Electric Generation | 1,756.8 | 2,111.9 | 4,887.8 | 5,177.0 | ||||||||||||||||||||||||||||||||||||||||||
Other Operation | Other Operation | 631.2 | 619.8 | 1,311.2 | 1,282.0 | Other Operation | 719.9 | 797.0 | 2,031.1 | 2,079.0 | ||||||||||||||||||||||||||||||||||||||||||
Maintenance | Maintenance | 340.0 | 326.5 | 657.3 | 611.5 | Maintenance | 325.5 | 298.1 | 982.8 | 909.6 | ||||||||||||||||||||||||||||||||||||||||||
Loss on the Expected Sale of the Kentucky Operations | Loss on the Expected Sale of the Kentucky Operations | — | 68.8 | — | 68.8 | Loss on the Expected Sale of the Kentucky Operations | — | 194.5 | — | 263.3 | ||||||||||||||||||||||||||||||||||||||||||
Loss on the Expected Sale of the Competitive Contracted Renewable Portfolio | — | — | 112.0 | — | ||||||||||||||||||||||||||||||||||||||||||||||||
Loss on the Sale of the Competitive Contracted Renewables Portfolio | Loss on the Sale of the Competitive Contracted Renewables Portfolio | — | — | 112.0 | — | |||||||||||||||||||||||||||||||||||||||||||||||
Asset Impairments and Other Related Charges | Asset Impairments and Other Related Charges | — | 24.9 | — | 24.9 | |||||||||||||||||||||||||||||||||||||||||||||||
Establishment of 2017-2019 Virginia Triennial Review Regulatory Asset | Establishment of 2017-2019 Virginia Triennial Review Regulatory Asset | — | (37.0) | — | (37.0) | |||||||||||||||||||||||||||||||||||||||||||||||
Gain on Sale of Mineral Rights | Gain on Sale of Mineral Rights | — | (116.3) | — | (116.3) | Gain on Sale of Mineral Rights | — | — | — | (116.3) | ||||||||||||||||||||||||||||||||||||||||||
Depreciation and Amortization | Depreciation and Amortization | 741.6 | 802.6 | 1,517.1 | 1,595.0 | Depreciation and Amortization | 792.3 | 821.8 | 2,309.4 | 2,416.8 | ||||||||||||||||||||||||||||||||||||||||||
Taxes Other Than Income Taxes | Taxes Other Than Income Taxes | 360.4 | 369.5 | 755.3 | 733.7 | Taxes Other Than Income Taxes | 393.9 | 384.8 | 1,149.2 | 1,118.5 | ||||||||||||||||||||||||||||||||||||||||||
TOTAL EXPENSES | TOTAL EXPENSES | 3,497.8 | 3,635.3 | 7,483.9 | 7,239.8 | TOTAL EXPENSES | 3,988.4 | 4,596.0 | 11,472.3 | 11,835.8 | ||||||||||||||||||||||||||||||||||||||||||
OPERATING INCOME | OPERATING INCOME | 874.7 | 1,004.4 | 1,579.5 | 1,992.5 | OPERATING INCOME | 1,353.3 | 930.1 | 2,932.8 | 2,922.6 | ||||||||||||||||||||||||||||||||||||||||||
Other Income (Expense): | Other Income (Expense): | Other Income (Expense): | ||||||||||||||||||||||||||||||||||||||||||||||||||
Other Income (Expense) | Other Income (Expense) | 14.4 | (12.7) | 29.1 | (10.4) | Other Income (Expense) | 11.9 | 4.8 | 41.0 | (5.6) | ||||||||||||||||||||||||||||||||||||||||||
Allowance for Equity Funds Used During Construction | Allowance for Equity Funds Used During Construction | 41.0 | 28.6 | 72.3 | 59.6 | Allowance for Equity Funds Used During Construction | 51.1 | 35.6 | 123.4 | 95.2 | ||||||||||||||||||||||||||||||||||||||||||
Non-Service Cost Components of Net Periodic Benefit Cost | Non-Service Cost Components of Net Periodic Benefit Cost | 55.2 | 47.1 | 110.7 | 94.3 | Non-Service Cost Components of Net Periodic Benefit Cost | 55.2 | 47.2 | 165.9 | 141.5 | ||||||||||||||||||||||||||||||||||||||||||
Interest Expense | Interest Expense | (460.0) | (327.6) | (875.7) | (641.0) | Interest Expense | (470.3) | (360.7) | (1,346.0) | (1,001.7) | ||||||||||||||||||||||||||||||||||||||||||
INCOME BEFORE INCOME TAX EXPENSE AND EQUITY EARNINGS (LOSS) | 525.3 | 739.8 | 915.9 | 1,495.0 | ||||||||||||||||||||||||||||||||||||||||||||||||
INCOME BEFORE INCOME TAX EXPENSE (BENEFIT) AND EQUITY EARNINGS (LOSS) | INCOME BEFORE INCOME TAX EXPENSE (BENEFIT) AND EQUITY EARNINGS (LOSS) | 1,001.2 | 657.0 | 1,917.1 | 2,152.0 | |||||||||||||||||||||||||||||||||||||||||||||||
Income Tax Expense | 28.6 | 54.0 | 39.0 | 106.8 | ||||||||||||||||||||||||||||||||||||||||||||||||
Income Tax Expense (Benefit) | Income Tax Expense (Benefit) | 64.2 | (16.1) | 103.2 | 90.7 | |||||||||||||||||||||||||||||||||||||||||||||||
Equity Earnings (Loss) of Unconsolidated Subsidiaries | Equity Earnings (Loss) of Unconsolidated Subsidiaries | 19.4 | (165.0) | 39.6 | (149.3) | Equity Earnings (Loss) of Unconsolidated Subsidiaries | 21.3 | 10.2 | 60.9 | (139.1) | ||||||||||||||||||||||||||||||||||||||||||
NET INCOME | NET INCOME | 516.1 | 520.8 | 916.5 | 1,238.9 | NET INCOME | 958.3 | 683.3 | 1,874.8 | 1,922.2 | ||||||||||||||||||||||||||||||||||||||||||
Net Loss Attributable to Noncontrolling Interests | (5.1) | (3.7) | (1.7) | (0.3) | ||||||||||||||||||||||||||||||||||||||||||||||||
Net Income (Loss) Attributable to Noncontrolling Interests | Net Income (Loss) Attributable to Noncontrolling Interests | 4.6 | (0.4) | 2.9 | (0.7) | |||||||||||||||||||||||||||||||||||||||||||||||
EARNINGS ATTRIBUTABLE TO AEP COMMON SHAREHOLDERS | EARNINGS ATTRIBUTABLE TO AEP COMMON SHAREHOLDERS | $ | 521.2 | $ | 524.5 | $ | 918.2 | $ | 1,239.2 | EARNINGS ATTRIBUTABLE TO AEP COMMON SHAREHOLDERS | $ | 953.7 | $ | 683.7 | $ | 1,871.9 | $ | 1,922.9 | ||||||||||||||||||||||||||||||||||
WEIGHTED AVERAGE NUMBER OF BASIC AEP COMMON SHARES OUTSTANDING | WEIGHTED AVERAGE NUMBER OF BASIC AEP COMMON SHARES OUTSTANDING | 514,879,144 | 513,623,431 | 514,529,837 | 509,857,710 | WEIGHTED AVERAGE NUMBER OF BASIC AEP COMMON SHARES OUTSTANDING | 520,459,880 | 513,730,196 | 516,528,239 | 511,162,723 | ||||||||||||||||||||||||||||||||||||||||||
TOTAL BASIC EARNINGS PER SHARE ATTRIBUTABLE TO AEP COMMON SHAREHOLDERS | TOTAL BASIC EARNINGS PER SHARE ATTRIBUTABLE TO AEP COMMON SHAREHOLDERS | $ | 1.01 | $ | 1.02 | $ | 1.78 | $ | 2.43 | TOTAL BASIC EARNINGS PER SHARE ATTRIBUTABLE TO AEP COMMON SHAREHOLDERS | $ | 1.83 | $ | 1.33 | $ | 3.62 | $ | 3.76 | ||||||||||||||||||||||||||||||||||
WEIGHTED AVERAGE NUMBER OF DILUTED AEP COMMON SHARES OUTSTANDING | WEIGHTED AVERAGE NUMBER OF DILUTED AEP COMMON SHARES OUTSTANDING | 516,242,919 | 515,162,210 | 515,922,446 | 511,391,735 | WEIGHTED AVERAGE NUMBER OF DILUTED AEP COMMON SHARES OUTSTANDING | 521,444,125 | 515,315,994 | 517,784,726 | 512,714,006 | ||||||||||||||||||||||||||||||||||||||||||
TOTAL DILUTED EARNINGS PER SHARE ATTRIBUTABLE TO AEP COMMON SHAREHOLDERS | TOTAL DILUTED EARNINGS PER SHARE ATTRIBUTABLE TO AEP COMMON SHAREHOLDERS | $ | 1.01 | $ | 1.02 | $ | 1.78 | $ | 2.42 | TOTAL DILUTED EARNINGS PER SHARE ATTRIBUTABLE TO AEP COMMON SHAREHOLDERS | $ | 1.83 | $ | 1.33 | $ | 3.62 | $ | 3.75 | ||||||||||||||||||||||||||||||||||
Three Months Ended | Six Months Ended | Three Months Ended | Nine Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||
June 30, | June 30, | September 30, | September 30, | |||||||||||||||||||||||||||||||||||||||||||||||||
2023 | 2022 | 2023 | 2022 | 2023 | 2022 | 2023 | 2022 | |||||||||||||||||||||||||||||||||||||||||||||
Net Income | Net Income | $ | 516.1 | $ | 520.8 | $ | 916.5 | $ | 1,238.9 | Net Income | $ | 958.3 | $ | 683.3 | $ | 1,874.8 | $ | 1,922.2 | ||||||||||||||||||||||||||||||||||
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 $9.3 and $35.2 for the Three Months Ended June 30, 2023 and 2022, Respectively, and $(31.2) and $101.1 for the Six Months Ended June 30, 2023 and 2022, Respectively | 34.8 | 132.4 | (117.6) | 380.4 | ||||||||||||||||||||||||||||||||||||||||||||||||
Cash Flow Hedges, Net of Tax of $(0.3) and $(19.5) for the Three Months Ended September 30, 2023 and 2022, Respectively, and $(31.5) and $81.6 for the Nine Months Ended September 30, 2023 and 2022, Respectively | Cash Flow Hedges, Net of Tax of $(0.3) and $(19.5) for the Three Months Ended September 30, 2023 and 2022, Respectively, and $(31.5) and $81.6 for the Nine Months Ended September 30, 2023 and 2022, Respectively | (0.9) | (73.3) | (118.5) | 307.1 | |||||||||||||||||||||||||||||||||||||||||||||||
Amortization of Pension and OPEB Deferred Costs, Net of Tax of $(0.8) and $(3.1) for the Three Months Ended June 30, 2023 and 2022, Respectively, and $(5.1) and $(3.7) for the Six Months Ended June 30, 2023 and 2022, Respectively | (3.1) | (11.6) | (19.2) | (13.8) | ||||||||||||||||||||||||||||||||||||||||||||||||
Reclassifications of KPCo Pension and OPEB Regulatory Assets, Net of Tax of $0 and $0 for the Three Months Ended June 30, 2023 and 2022, Respectively, and $4.4 and $0 for the Six Months Ended June 30, 2023 and 2022, Respectively | — | — | 16.7 | — | ||||||||||||||||||||||||||||||||||||||||||||||||
Amortization of Pension and OPEB Deferred Costs, Net of Tax of $(0.8) and $(0.8) for the Three Months Ended September 30, 2023 and 2022, Respectively, and $(5.9) and $(4.5) for the Nine Months Ended September 30, 2023 and 2022, Respectively | Amortization of Pension and OPEB Deferred Costs, Net of Tax of $(0.8) and $(0.8) for the Three Months Ended September 30, 2023 and 2022, Respectively, and $(5.9) and $(4.5) for the Nine Months Ended September 30, 2023 and 2022, Respectively | (3.2) | (3.2) | (22.4) | (17.0) | |||||||||||||||||||||||||||||||||||||||||||||||
Reclassifications of KPCo Pension and OPEB Regulatory Assets, Net of Tax of $0 and $0 for the Three Months Ended September 30, 2023 and 2022, Respectively, and $4.4 and $0 for the Nine Months Ended September 30, 2023 and 2022, Respectively | Reclassifications of KPCo Pension and OPEB Regulatory Assets, Net of Tax of $0 and $0 for the Three Months Ended September 30, 2023 and 2022, Respectively, and $4.4 and $0 for the Nine Months Ended September 30, 2023 and 2022, Respectively | — | — | 16.7 | — | |||||||||||||||||||||||||||||||||||||||||||||||
TOTAL OTHER COMPREHENSIVE INCOME (LOSS) | TOTAL OTHER COMPREHENSIVE INCOME (LOSS) | 31.7 | 120.8 | (120.1) | 366.6 | TOTAL OTHER COMPREHENSIVE INCOME (LOSS) | (4.1) | (76.5) | (124.2) | 290.1 | ||||||||||||||||||||||||||||||||||||||||||
TOTAL COMPREHENSIVE INCOME | TOTAL COMPREHENSIVE INCOME | 547.8 | 641.6 | 796.4 | 1,605.5 | TOTAL COMPREHENSIVE INCOME | 954.2 | 606.8 | 1,750.6 | 2,212.3 | ||||||||||||||||||||||||||||||||||||||||||
Total Comprehensive Loss Attributable To Noncontrolling Interests | (5.1) | (3.7) | (1.7) | (0.3) | ||||||||||||||||||||||||||||||||||||||||||||||||
Total Comprehensive Income (Loss) Attributable To Noncontrolling Interests | Total Comprehensive Income (Loss) Attributable To Noncontrolling Interests | 4.6 | (0.4) | 2.9 | (0.7) | |||||||||||||||||||||||||||||||||||||||||||||||
TOTAL COMPREHENSIVE INCOME ATTRIBUTABLE TO AEP COMMON SHAREHOLDERS | TOTAL COMPREHENSIVE INCOME ATTRIBUTABLE TO AEP COMMON SHAREHOLDERS | $ | 552.9 | $ | 645.3 | $ | 798.1 | $ | 1,605.8 | TOTAL COMPREHENSIVE INCOME ATTRIBUTABLE TO AEP COMMON SHAREHOLDERS | $ | 949.6 | $ | 607.2 | $ | 1,747.7 | $ | 2,213.0 | ||||||||||||||||||||||||||||||||||
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, 2021 | TOTAL EQUITY – DECEMBER 31, 2021 | 524.4 | $ | 3,408.7 | $ | 7,172.6 | $ | 11,667.1 | $ | 184.8 | $ | 247.0 | $ | 22,680.2 | TOTAL EQUITY – DECEMBER 31, 2021 | 524.4 | $ | 3,408.7 | $ | 7,172.6 | $ | 11,667.1 | $ | 184.8 | $ | 247.0 | $ | 22,680.2 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issuance of Common Stock | Issuance of Common Stock | 0.4 | 2.4 | 807.1 | 809.5 | Issuance of Common Stock | 0.4 | 2.4 | 807.1 | 809.5 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common Stock Dividends | Common Stock Dividends | (395.2) | (a) | (3.6) | (398.8) | Common Stock Dividends | (395.2) | (a) | (3.6) | (398.8) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Changes in Equity | Other Changes in Equity | (15.2) | (1.5) | (16.7) | Other Changes in Equity | (15.2) | (1.5) | (16.7) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net Income | Net Income | 714.7 | 3.4 | 718.1 | Net Income | 714.7 | 3.4 | 718.1 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Comprehensive Income | Other Comprehensive Income | 245.8 | 245.8 | Other Comprehensive Income | 245.8 | 245.8 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
TOTAL EQUITY – MARCH 31, 2022 | TOTAL EQUITY – MARCH 31, 2022 | 524.8 | 3,411.1 | 7,964.5 | 11,985.1 | 430.6 | 246.8 | 24,038.1 | TOTAL EQUITY – MARCH 31, 2022 | 524.8 | 3,411.1 | 7,964.5 | 11,985.1 | 430.6 | 246.8 | 24,038.1 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issuance of Common Stock | Issuance of Common Stock | 0.1 | 0.9 | 2.3 | 3.2 | Issuance of Common Stock | 0.1 | 0.9 | 2.3 | 3.2 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common Stock Dividends | Common Stock Dividends | (402.6) | (a) | (2.1) | (404.7) | Common Stock Dividends | (402.6) | (a) | (2.1) | (404.7) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Changes in Equity | Other Changes in Equity | 17.2 | 1.6 | 18.8 | Other Changes in Equity | 17.2 | 1.6 | 18.8 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net Income (Loss) | Net Income (Loss) | 524.5 | (3.7) | 520.8 | Net Income (Loss) | 524.5 | (3.7) | 520.8 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Comprehensive Income | Other Comprehensive Income | 120.8 | 120.8 | Other Comprehensive Income | 120.8 | 120.8 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
TOTAL EQUITY – JUNE 30, 2022 | TOTAL EQUITY – JUNE 30, 2022 | 524.9 | $ | 3,412.0 | $ | 7,984.0 | $ | 12,108.6 | $ | 551.4 | $ | 241.0 | $ | 24,297.0 | TOTAL EQUITY – JUNE 30, 2022 | 524.9 | 3,412.0 | 7,984.0 | 12,108.6 | 551.4 | 241.0 | 24,297.0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issuance of Common Stock | Issuance of Common Stock | 0.1 | 0.5 | 14.0 | 14.5 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common Stock Dividends | Common Stock Dividends | (402.5) | (a) | (6.5) | (409.0) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Changes in Equity | Other Changes in Equity | 3.0 | 3.0 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net Income (Loss) | Net Income (Loss) | 683.7 | (0.4) | 683.3 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Comprehensive Loss | Other Comprehensive Loss | (76.5) | (76.5) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
TOTAL EQUITY – SEPTEMBER 30, 2022 | TOTAL EQUITY – SEPTEMBER 30, 2022 | 525.0 | $ | 3,412.5 | $ | 8,001.0 | $ | 12,389.8 | $ | 474.9 | $ | 234.1 | $ | 24,512.3 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
TOTAL EQUITY – DECEMBER 31, 2022 | TOTAL EQUITY – DECEMBER 31, 2022 | 525.1 | $ | 3,413.1 | $ | 8,051.0 | $ | 12,345.6 | $ | 83.7 | $ | 229.0 | $ | 24,122.4 | TOTAL EQUITY – DECEMBER 31, 2022 | 525.1 | $ | 3,413.1 | $ | 8,051.0 | $ | 12,345.6 | $ | 83.7 | $ | 229.0 | $ | 24,122.4 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issuance of Common Stock | Issuance of Common Stock | 0.8 | 5.1 | 36.0 | 41.1 | Issuance of Common Stock | 0.8 | 5.1 | 36.0 | 41.1 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common Stock Dividends | Common Stock Dividends | (428.8) | (b) | (3.0) | (431.8) | Common Stock Dividends | (428.8) | (b) | (3.0) | (431.8) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Changes in Equity | Other Changes in Equity | (12.7) | 0.2 | (12.5) | Other Changes in Equity | (12.7) | 0.2 | (12.5) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net Income | Net Income | 397.0 | 3.4 | 400.4 | Net Income | 397.0 | 3.4 | 400.4 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Comprehensive Loss | Other Comprehensive Loss | (151.8) | (151.8) | Other Comprehensive Loss | (151.8) | (151.8) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
TOTAL EQUITY – MARCH 31, 2023 | TOTAL EQUITY – MARCH 31, 2023 | 525.9 | 3,418.2 | 8,074.3 | 12,313.8 | (68.1) | 229.6 | 23,967.8 | TOTAL EQUITY – MARCH 31, 2023 | 525.9 | 3,418.2 | 8,074.3 | 12,313.8 | (68.1) | 229.6 | 23,967.8 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issuance of Common Stock | Issuance of Common Stock | 0.5 | 3.3 | 33.2 | 36.5 | Issuance of Common Stock | 0.5 | 3.3 | 33.2 | 36.5 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common Stock Dividends | Common Stock Dividends | (429.5) | (b) | (2.3) | (431.8) | Common Stock Dividends | (429.5) | (b) | (2.3) | (431.8) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Changes in Equity | Other Changes in Equity | 3.3 | 3.3 | Other Changes in Equity | 3.3 | 3.3 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net Income (Loss) | Net Income (Loss) | 521.2 | (5.1) | 516.1 | Net Income (Loss) | 521.2 | (5.1) | 516.1 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Comprehensive Income | Other Comprehensive Income | 31.7 | 31.7 | Other Comprehensive Income | 31.7 | 31.7 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
TOTAL EQUITY – JUNE 30, 2023 | TOTAL EQUITY – JUNE 30, 2023 | 526.4 | $ | 3,421.5 | $ | 8,110.8 | $ | 12,405.5 | $ | (36.4) | $ | 222.2 | $ | 24,123.6 | TOTAL EQUITY – JUNE 30, 2023 | 526.4 | 3,421.5 | 8,110.8 | 12,405.5 | (36.4) | 222.2 | 24,123.6 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issuance of Common Stock | Issuance of Common Stock | 0.4 | 2.8 | 878.9 | 881.7 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common Stock Dividends | Common Stock Dividends | (429.7) | (b) | (0.5) | (430.2) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Changes in Equity | Other Changes in Equity | 6.7 | 6.7 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Disposition of Competitive Contracted Renewables Portfolio | Disposition of Competitive Contracted Renewables Portfolio | (186.4) | (186.4) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net Income | Net Income | 953.7 | 4.6 | 958.3 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Comprehensive Loss | Other Comprehensive Loss | (4.1) | (4.1) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
TOTAL EQUITY – SEPTEMBER 30, 2023 | TOTAL EQUITY – SEPTEMBER 30, 2023 | 526.8 | $ | 3,424.3 | $ | 8,996.4 | $ | 12,929.5 | $ | (40.5) | $ | 39.9 | $ | 25,349.6 |
June 30, | December 31, | September 30, | December 31, | |||||||||||||||||||||||||
2023 | 2022 | 2023 | 2022 | |||||||||||||||||||||||||
CURRENT ASSETS | CURRENT ASSETS | CURRENT ASSETS | ||||||||||||||||||||||||||
Cash and Cash Equivalents | Cash and Cash Equivalents | $ | 304.9 | $ | 509.4 | Cash and Cash Equivalents | $ | 353.3 | $ | 509.4 | ||||||||||||||||||
Restricted Cash (June 30, 2023 and December 31, 2022 Amounts Include $45.8 and $47.1, Respectively, Related to Transition Funding, Restoration Funding and Appalachian Consumer Rate Relief Funding) | 45.8 | 47.1 | ||||||||||||||||||||||||||
Other Temporary Investments (June 30, 2023 and December 31, 2022 Amounts Include $190.9 and $182.9, Respectively, Related to EIS and Transource Energy) | 202.5 | 187.6 | ||||||||||||||||||||||||||
Restricted Cash (September 30, 2023 and December 31, 2022 Amounts Include $53.8 and $47.1, Respectively, Related to Transition Funding, Restoration Funding and Appalachian Consumer Rate Relief Funding) | Restricted Cash (September 30, 2023 and December 31, 2022 Amounts Include $53.8 and $47.1, Respectively, Related to Transition Funding, Restoration Funding and Appalachian Consumer Rate Relief Funding) | 53.8 | 47.1 | |||||||||||||||||||||||||
Other Temporary Investments (September 30, 2023 and December 31, 2022 Amounts Include $202 and $182.9, Respectively, Related to EIS and Transource Energy) | Other Temporary Investments (September 30, 2023 and December 31, 2022 Amounts Include $202 and $182.9, Respectively, Related to EIS and Transource Energy) | 211.0 | 187.6 | |||||||||||||||||||||||||
Accounts Receivable: | Accounts Receivable: | Accounts Receivable: | ||||||||||||||||||||||||||
Customers | Customers | 990.8 | 1,145.1 | Customers | 976.8 | 1,145.1 | ||||||||||||||||||||||
Accrued Unbilled Revenues | Accrued Unbilled Revenues | 179.2 | 322.9 | Accrued Unbilled Revenues | 270.2 | 322.9 | ||||||||||||||||||||||
Pledged Accounts Receivable – AEP Credit | Pledged Accounts Receivable – AEP Credit | 1,226.6 | 1,207.4 | Pledged Accounts Receivable – AEP Credit | 1,299.2 | 1,207.4 | ||||||||||||||||||||||
Miscellaneous | Miscellaneous | 47.9 | 49.7 | Miscellaneous | 77.4 | 49.7 | ||||||||||||||||||||||
Allowance for Uncollectible Accounts | Allowance for Uncollectible Accounts | (58.6) | (57.1) | Allowance for Uncollectible Accounts | (58.6) | (57.1) | ||||||||||||||||||||||
Total Accounts Receivable | Total Accounts Receivable | 2,385.9 | 2,668.0 | Total Accounts Receivable | 2,565.0 | 2,668.0 | ||||||||||||||||||||||
Fuel | Fuel | 705.9 | 435.1 | Fuel | 726.8 | 435.1 | ||||||||||||||||||||||
Materials and Supplies | Materials and Supplies | 975.9 | 915.1 | Materials and Supplies | 993.2 | 915.1 | ||||||||||||||||||||||
Risk Management Assets | Risk Management Assets | 279.5 | 348.8 | Risk Management Assets | 262.7 | 348.8 | ||||||||||||||||||||||
Accrued Tax Benefits | Accrued Tax Benefits | 191.8 | 99.4 | Accrued Tax Benefits | 160.3 | 99.4 | ||||||||||||||||||||||
Regulatory Asset for Under-Recovered Fuel Costs | Regulatory Asset for Under-Recovered Fuel Costs | 1,256.4 | 1,310.0 | Regulatory Asset for Under-Recovered Fuel Costs | 1,087.6 | 1,310.0 | ||||||||||||||||||||||
Assets Held for Sale | 1,382.8 | — | ||||||||||||||||||||||||||
Prepayments and Other Current Assets | Prepayments and Other Current Assets | 309.9 | 255.0 | Prepayments and Other Current Assets | 322.9 | 255.0 | ||||||||||||||||||||||
TOTAL CURRENT ASSETS | TOTAL CURRENT ASSETS | 8,041.3 | 6,775.5 | TOTAL CURRENT ASSETS | 6,736.6 | 6,775.5 | ||||||||||||||||||||||
PROPERTY, PLANT AND EQUIPMENT | PROPERTY, PLANT AND EQUIPMENT | PROPERTY, PLANT AND EQUIPMENT | ||||||||||||||||||||||||||
Electric: | Electric: | Electric: | ||||||||||||||||||||||||||
Generation | Generation | 24,113.5 | 25,834.2 | Generation | 24,178.0 | 25,834.2 | ||||||||||||||||||||||
Transmission | Transmission | 34,145.5 | 33,266.9 | Transmission | 34,731.0 | 33,266.9 | ||||||||||||||||||||||
Distribution | Distribution | 28,033.8 | 27,138.8 | Distribution | 28,444.0 | 27,138.8 | ||||||||||||||||||||||
Other Property, Plant and Equipment (Including Coal Mining and Nuclear Fuel) | Other Property, Plant and Equipment (Including Coal Mining and Nuclear Fuel) | 6,187.6 | 5,971.8 | Other Property, Plant and Equipment (Including Coal Mining and Nuclear Fuel) | 6,251.1 | 5,971.8 | ||||||||||||||||||||||
Construction Work in Progress | Construction Work in Progress | 5,935.4 | 4,809.7 | Construction Work in Progress | 6,394.4 | 4,809.7 | ||||||||||||||||||||||
Total Property, Plant and Equipment | Total Property, Plant and Equipment | 98,415.8 | 97,021.4 | Total Property, Plant and Equipment | 99,998.5 | 97,021.4 | ||||||||||||||||||||||
Accumulated Depreciation and Amortization | Accumulated Depreciation and Amortization | 23,734.4 | 23,682.3 | Accumulated Depreciation and Amortization | 24,177.4 | 23,682.3 | ||||||||||||||||||||||
TOTAL PROPERTY, PLANT AND EQUIPMENT – NET | TOTAL PROPERTY, PLANT AND EQUIPMENT – NET | 74,681.4 | 73,339.1 | TOTAL PROPERTY, PLANT AND EQUIPMENT – NET | 75,821.1 | 73,339.1 | ||||||||||||||||||||||
OTHER NONCURRENT ASSETS | OTHER NONCURRENT ASSETS | OTHER NONCURRENT ASSETS | ||||||||||||||||||||||||||
Regulatory Assets | Regulatory Assets | 4,672.8 | 4,762.0 | Regulatory Assets | 4,607.3 | 4,762.0 | ||||||||||||||||||||||
Securitized Assets | Securitized Assets | 394.3 | 446.0 | Securitized Assets | 365.4 | 446.0 | ||||||||||||||||||||||
Spent Nuclear Fuel and Decommissioning Trusts | Spent Nuclear Fuel and Decommissioning Trusts | 3,648.8 | 3,341.2 | Spent Nuclear Fuel and Decommissioning Trusts | 3,539.7 | 3,341.2 | ||||||||||||||||||||||
Goodwill | Goodwill | 52.5 | 52.5 | Goodwill | 52.5 | 52.5 | ||||||||||||||||||||||
Long-term Risk Management Assets | Long-term Risk Management Assets | 266.8 | 284.1 | Long-term Risk Management Assets | 290.2 | 284.1 | ||||||||||||||||||||||
Operating Lease Assets | Operating Lease Assets | 634.1 | 645.5 | Operating Lease Assets | 619.1 | 645.5 | ||||||||||||||||||||||
Deferred Charges and Other Noncurrent Assets | Deferred Charges and Other Noncurrent Assets | 3,610.1 | 3,757.4 | Deferred Charges and Other Noncurrent Assets | 3,093.7 | 3,757.4 | ||||||||||||||||||||||
TOTAL OTHER NONCURRENT ASSETS | TOTAL OTHER NONCURRENT ASSETS | 13,279.4 | 13,288.7 | TOTAL OTHER NONCURRENT ASSETS | 12,567.9 | 13,288.7 | ||||||||||||||||||||||
TOTAL ASSETS | TOTAL ASSETS | $ | 96,002.1 | $ | 93,403.3 | TOTAL ASSETS | $ | 95,125.6 | $ | 93,403.3 | ||||||||||||||||||
June 30, | December 31, | September 30, | December 31, | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
2023 | 2022 | 2023 | 2022 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
CURRENT LIABILITIES | CURRENT LIABILITIES | CURRENT LIABILITIES | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accounts Payable | Accounts Payable | $ | 2,433.9 | $ | 2,670.8 | Accounts Payable | $ | 2,258.6 | $ | 2,670.8 | ||||||||||||||||||||||||||||||||||||||||||||||||
Short-term Debt: | Short-term Debt: | Short-term Debt: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Securitized Debt for Receivables – AEP Credit | Securitized Debt for Receivables – AEP Credit | 750.0 | 750.0 | Securitized Debt for Receivables – AEP Credit | 900.0 | 750.0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Short-term Debt | Other Short-term Debt | 3,117.6 | 3,362.2 | Other Short-term Debt | 1,830.4 | 3,362.2 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Short-term Debt | Total Short-term Debt | 3,867.6 | 4,112.2 | Total Short-term Debt | 2,730.4 | 4,112.2 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Long-term Debt Due Within One Year (June 30, 2023 and December 31, 2022 Amounts Include $196.2 and $218.2, Respectively, Related to Sabine, DCC Fuel, Transition Funding, Restoration Funding, Appalachian Consumer Rate Relief Funding and Transource Energy) | 3,380.3 | 2,486.4 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Long-term Debt Due Within One Year (September 30, 2023 and December 31, 2022 Amounts Include $184.4 and $218.2, 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, 2023 and December 31, 2022 Amounts Include $184.4 and $218.2, Respectively, Related to Sabine, DCC Fuel, Transition Funding, Restoration Funding, Appalachian Consumer Rate Relief Funding and Transource Energy) | 2,773.6 | 2,486.4 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Risk Management Liabilities | Risk Management Liabilities | 176.2 | 145.2 | Risk Management Liabilities | 151.5 | 145.2 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Customer Deposits | Customer Deposits | 382.2 | 408.8 | Customer Deposits | 379.6 | 408.8 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued Taxes | Accrued Taxes | 1,366.5 | 1,714.6 | Accrued Taxes | 1,201.0 | 1,714.6 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued Interest | Accrued Interest | 402.9 | 336.5 | Accrued Interest | 485.9 | 336.5 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Obligations Under Operating Leases | Obligations Under Operating Leases | 116.6 | 113.6 | Obligations Under Operating Leases | 117.7 | 113.6 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Liabilities Held for Sale | 64.8 | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Current Liabilities | Other Current Liabilities | 1,076.1 | 1,278.2 | Other Current Liabilities | 1,179.8 | 1,278.2 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
TOTAL CURRENT LIABILITIES | TOTAL CURRENT LIABILITIES | 13,267.1 | 13,266.3 | TOTAL CURRENT LIABILITIES | 11,278.1 | 13,266.3 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
NONCURRENT LIABILITIES | NONCURRENT LIABILITIES | NONCURRENT LIABILITIES | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Long-term Debt (June 30, 2023 and December 31, 2022 Amounts Include $591.3 and $755.3, Respectively, Related to Sabine, DCC Fuel, Transition Funding, Restoration Funding, Appalachian Consumer Rate Relief Funding and Transource Energy) | 36,762.0 | 34,314.6 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Long-term Debt (September 30, 2023 and December 31, 2022 Amounts Include $553.5 and $755.3, Respectively, Related to Sabine, DCC Fuel, Transition Funding, Restoration Funding, Appalachian Consumer Rate Relief Funding and Transource Energy) | Long-term Debt (September 30, 2023 and December 31, 2022 Amounts Include $553.5 and $755.3, Respectively, Related to Sabine, DCC Fuel, Transition Funding, Restoration Funding, Appalachian Consumer Rate Relief Funding and Transource Energy) | 36,715.5 | 34,314.6 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Long-term Risk Management Liabilities | Long-term Risk Management Liabilities | 275.3 | 345.2 | Long-term Risk Management Liabilities | 278.4 | 345.2 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Deferred Income Taxes | Deferred Income Taxes | 9,157.7 | 8,896.9 | Deferred Income Taxes | 9,267.2 | 8,896.9 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Regulatory Liabilities and Deferred Investment Tax Credits | Regulatory Liabilities and Deferred Investment Tax Credits | 8,121.1 | 8,115.6 | Regulatory Liabilities and Deferred Investment Tax Credits | 7,916.3 | 8,115.6 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Asset Retirement Obligations | Asset Retirement Obligations | 2,879.9 | 2,879.3 | Asset Retirement Obligations | 2,895.2 | 2,879.3 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Employee Benefits and Pension Obligations | Employee Benefits and Pension Obligations | 248.9 | 257.3 | Employee Benefits and Pension Obligations | 238.3 | 257.3 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Obligations Under Operating Leases | Obligations Under Operating Leases | 533.6 | 552.5 | Obligations Under Operating Leases | 514.6 | 552.5 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Deferred Credits and Other Noncurrent Liabilities | Deferred Credits and Other Noncurrent Liabilities | 568.2 | 607.3 | Deferred Credits and Other Noncurrent Liabilities | 597.3 | 607.3 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
TOTAL NONCURRENT LIABILITIES | TOTAL NONCURRENT LIABILITIES | 58,546.7 | 55,968.7 | TOTAL NONCURRENT LIABILITIES | 58,422.8 | 55,968.7 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
TOTAL LIABILITIES | TOTAL LIABILITIES | 71,813.8 | 69,235.0 | TOTAL LIABILITIES | 69,700.9 | 69,235.0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Rate Matters (Note 4) | Rate Matters (Note 4) | Rate Matters (Note 4) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commitments and Contingencies (Note 5) | Commitments and Contingencies (Note 5) | Commitments and Contingencies (Note 5) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
MEZZANINE EQUITY | MEZZANINE EQUITY | MEZZANINE EQUITY | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Contingently Redeemable Performance Share Awards | Contingently Redeemable Performance Share Awards | 64.7 | 45.9 | Contingently Redeemable Performance Share Awards | 75.1 | 45.9 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
TOTAL MEZZANINE EQUITY | TOTAL MEZZANINE EQUITY | 64.7 | 45.9 | TOTAL MEZZANINE EQUITY | 75.1 | 45.9 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
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: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2023 | 2022 | 2023 | 2022 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares Authorized | Shares Authorized | 600,000,000 | 600,000,000 | Shares Authorized | 600,000,000 | 600,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares Issued | Shares Issued | 526,387,081 | 525,099,321 | Shares Issued | 526,819,992 | 525,099,321 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
(11,233,240 Shares were Held in Treasury as of June 30, 2023 and December 31, 2022, Respectively) | 3,421.5 | 3,413.1 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(1,184,572 and 11,233,240 Shares were Held in Treasury as of September 30, 2023 and December 31, 2022, Respectively) | (1,184,572 and 11,233,240 Shares were Held in Treasury as of September 30, 2023 and December 31, 2022, Respectively) | 3,424.3 | 3,413.1 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Paid-in Capital | Paid-in Capital | 8,110.8 | 8,051.0 | Paid-in Capital | 8,996.4 | 8,051.0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Retained Earnings | Retained Earnings | 12,405.5 | 12,345.6 | Retained Earnings | 12,929.5 | 12,345.6 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Accumulated Other Comprehensive Income (Loss) | Accumulated Other Comprehensive Income (Loss) | (36.4) | 83.7 | Accumulated Other Comprehensive Income (Loss) | (40.5) | 83.7 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
TOTAL AEP COMMON SHAREHOLDERS’ EQUITY | TOTAL AEP COMMON SHAREHOLDERS’ EQUITY | 23,901.4 | 23,893.4 | TOTAL AEP COMMON SHAREHOLDERS’ EQUITY | 25,309.7 | 23,893.4 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Noncontrolling Interests | Noncontrolling Interests | 222.2 | 229.0 | Noncontrolling Interests | 39.9 | 229.0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
TOTAL EQUITY | TOTAL EQUITY | 24,123.6 | 24,122.4 | TOTAL EQUITY | 25,349.6 | 24,122.4 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
TOTAL LIABILITIES, MEZZANINE EQUITY AND TOTAL EQUITY | TOTAL LIABILITIES, MEZZANINE EQUITY AND TOTAL EQUITY | $ | 96,002.1 | $ | 93,403.3 | TOTAL LIABILITIES, MEZZANINE EQUITY AND TOTAL EQUITY | $ | 95,125.6 | $ | 93,403.3 | ||||||||||||||||||||||||||||||||||||||||||||||||
Six Months Ended June 30, | Nine Months Ended September 30, | |||||||||||||||||||||||||||
2023 | 2022 | 2023 | 2022 | |||||||||||||||||||||||||
OPERATING ACTIVITIES | OPERATING ACTIVITIES | OPERATING ACTIVITIES | ||||||||||||||||||||||||||
Net Income | Net Income | $ | 916.5 | $ | 1,238.9 | Net Income | $ | 1,874.8 | $ | 1,922.2 | ||||||||||||||||||
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 | 1,517.1 | 1,595.0 | Depreciation and Amortization | 2,309.4 | 2,416.8 | ||||||||||||||||||||||
Deferred Income Taxes | Deferred Income Taxes | 135.8 | 21.4 | Deferred Income Taxes | 171.5 | 16.6 | ||||||||||||||||||||||
Loss on the Expected Sale of the Competitive Contracted Renewable Portfolio | 112.0 | — | ||||||||||||||||||||||||||
Loss on the Expected Sale of the Kentucky Operations | Loss on the Expected Sale of the Kentucky Operations | — | 68.8 | Loss on the Expected Sale of the Kentucky Operations | — | 263.3 | ||||||||||||||||||||||
Loss on the Sale of the Competitive Contracted Renewables Portfolio | Loss on the Sale of the Competitive Contracted Renewables Portfolio | 112.0 | — | |||||||||||||||||||||||||
Asset Impairments and Other Related Charges | Asset Impairments and Other Related Charges | — | 24.9 | |||||||||||||||||||||||||
Impairment of Equity Method Investment | Impairment of Equity Method Investment | — | 185.5 | Impairment of Equity Method Investment | — | 188.0 | ||||||||||||||||||||||
Allowance for Equity Funds Used During Construction | Allowance for Equity Funds Used During Construction | (72.3) | (59.6) | Allowance for Equity Funds Used During Construction | (123.4) | (95.2) | ||||||||||||||||||||||
Mark-to-Market of Risk Management Contracts | Mark-to-Market of Risk Management Contracts | (124.7) | 431.4 | Mark-to-Market of Risk Management Contracts | (82.8) | 162.3 | ||||||||||||||||||||||
Property Taxes | Property Taxes | 202.7 | 191.6 | Property Taxes | 486.1 | 459.9 | ||||||||||||||||||||||
Deferred Fuel Over/Under-Recovery, Net | Deferred Fuel Over/Under-Recovery, Net | 342.5 | (599.5) | Deferred Fuel Over/Under-Recovery, Net | 542.8 | (148.7) | ||||||||||||||||||||||
Gain on Sale of Mineral Rights | Gain on Sale of Mineral Rights | — | (116.3) | Gain on Sale of Mineral Rights | — | (116.3) | ||||||||||||||||||||||
Establishment of 2017-2019 Virginia Triennial Review Regulatory Asset | Establishment of 2017-2019 Virginia Triennial Review Regulatory Asset | — | (37.0) | |||||||||||||||||||||||||
Change in Other Noncurrent Assets | Change in Other Noncurrent Assets | (375.5) | (49.3) | Change in Other Noncurrent Assets | (396.8) | (6.0) | ||||||||||||||||||||||
Change in Other Noncurrent Liabilities | Change in Other Noncurrent Liabilities | (55.4) | 144.5 | Change in Other Noncurrent Liabilities | (21.5) | 324.0 | ||||||||||||||||||||||
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 | 277.8 | (445.8) | Accounts Receivable, Net | 114.0 | (495.7) | ||||||||||||||||||||||
Fuel, Materials and Supplies | Fuel, Materials and Supplies | (315.1) | (110.5) | Fuel, Materials and Supplies | (344.4) | (134.6) | ||||||||||||||||||||||
Accounts Payable | Accounts Payable | 62.6 | 484.8 | Accounts Payable | (163.0) | 369.4 | ||||||||||||||||||||||
Accrued Taxes, Net | Accrued Taxes, Net | (433.7) | (218.2) | Accrued Taxes, Net | (566.7) | (512.8) | ||||||||||||||||||||||
Other Current Assets | Other Current Assets | (76.6) | 69.9 | Other Current Assets | (91.5) | 41.2 | ||||||||||||||||||||||
Other Current Liabilities | Other Current Liabilities | (232.1) | 158.1 | Other Current Liabilities | (144.8) | 90.9 | ||||||||||||||||||||||
Net Cash Flows from Operating Activities | Net Cash Flows from Operating Activities | 1,881.6 | 2,990.7 | Net Cash Flows from Operating Activities | 3,675.7 | 4,733.2 | ||||||||||||||||||||||
INVESTING ACTIVITIES | INVESTING ACTIVITIES | INVESTING ACTIVITIES | ||||||||||||||||||||||||||
Construction Expenditures | Construction Expenditures | (4,049.7) | (3,138.1) | Construction Expenditures | (5,767.1) | (4,748.5) | ||||||||||||||||||||||
Purchases of Investment Securities | Purchases of Investment Securities | (1,235.6) | (1,254.8) | Purchases of Investment Securities | (2,199.7) | (1,868.2) | ||||||||||||||||||||||
Sales of Investment Securities | Sales of Investment Securities | 1,206.3 | 1,244.9 | Sales of Investment Securities | 2,140.1 | 1,833.4 | ||||||||||||||||||||||
Acquisitions of Nuclear Fuel | Acquisitions of Nuclear Fuel | (73.9) | (67.7) | Acquisitions of Nuclear Fuel | (60.9) | (91.9) | ||||||||||||||||||||||
Acquisitions of Renewable Energy Facilities | Acquisitions of Renewable Energy Facilities | (145.7) | (1,207.3) | Acquisitions of Renewable Energy Facilities | (154.0) | (1,207.3) | ||||||||||||||||||||||
Proceeds from Sales of Assets | Proceeds from Sales of Assets | 1.0 | 208.5 | Proceeds from Sales of Assets | 1,335.6 | 215.7 | ||||||||||||||||||||||
Other Investing Activities | Other Investing Activities | 32.1 | 15.5 | Other Investing Activities | 62.5 | 44.3 | ||||||||||||||||||||||
Net Cash Flows Used for Investing Activities | Net Cash Flows Used for Investing Activities | (4,265.5) | (4,199.0) | Net Cash Flows Used for Investing Activities | (4,643.5) | (5,822.5) | ||||||||||||||||||||||
FINANCING ACTIVITIES | FINANCING ACTIVITIES | FINANCING ACTIVITIES | ||||||||||||||||||||||||||
Issuance of Common Stock | Issuance of Common Stock | 77.6 | 812.7 | Issuance of Common Stock | 959.3 | 827.2 | ||||||||||||||||||||||
Issuance of Long-term Debt | Issuance of Long-term Debt | 3,958.8 | 2,639.1 | Issuance of Long-term Debt | 4,017.8 | 3,428.4 | ||||||||||||||||||||||
Issuance of Short-term Debt with Original Maturities greater than 90 Days | Issuance of Short-term Debt with Original Maturities greater than 90 Days | 597.4 | 271.0 | Issuance of Short-term Debt with Original Maturities greater than 90 Days | 791.7 | 271.0 | ||||||||||||||||||||||
Change in Short-term Debt with Original Maturities less than 90 Days, Net | Change in Short-term Debt with Original Maturities less than 90 Days, Net | (688.2) | (268.9) | Change in Short-term Debt with Original Maturities less than 90 Days, Net | (1,044.7) | 803.4 | ||||||||||||||||||||||
Retirement of Long-term Debt | Retirement of Long-term Debt | (641.7) | (582.4) | Retirement of Long-term Debt | (1,353.3) | (1,679.1) | ||||||||||||||||||||||
Redemption of Short-term Debt with Original Maturities Greater than 90 Days | Redemption of Short-term Debt with Original Maturities Greater than 90 Days | (153.8) | (486.1) | Redemption of Short-term Debt with Original Maturities Greater than 90 Days | (1,128.8) | (986.1) | ||||||||||||||||||||||
Principal Payments for Finance Lease Obligations | Principal Payments for Finance Lease Obligations | (40.6) | (106.2) | Principal Payments for Finance Lease Obligations | (53.9) | (120.3) | ||||||||||||||||||||||
Dividends Paid on Common Stock | Dividends Paid on Common Stock | (863.6) | (803.5) | Dividends Paid on Common Stock | (1,293.8) | (1,212.5) | ||||||||||||||||||||||
Other Financing Activities | Other Financing Activities | (67.8) | (97.6) | Other Financing Activities | (75.9) | (116.8) | ||||||||||||||||||||||
Net Cash Flows from Financing Activities | Net Cash Flows from Financing Activities | 2,178.1 | 1,378.1 | Net Cash Flows from Financing Activities | 818.4 | 1,215.2 | ||||||||||||||||||||||
Net Increase (Decrease) in Cash and Cash Equivalents | Net Increase (Decrease) in Cash and Cash Equivalents | (205.8) | 169.8 | Net Increase (Decrease) in Cash and Cash Equivalents | (149.4) | 125.9 | ||||||||||||||||||||||
Cash, Cash Equivalents and Restricted Cash at Beginning of Period | Cash, Cash Equivalents and Restricted Cash at Beginning of Period | 556.5 | 451.4 | Cash, Cash Equivalents and Restricted Cash at Beginning of Period | 556.5 | 451.4 | ||||||||||||||||||||||
Cash, Cash Equivalents and Restricted Cash at End of Period | Cash, Cash Equivalents and Restricted Cash at End of Period | $ | 350.7 | $ | 621.2 | Cash, Cash Equivalents and Restricted Cash at End of Period | $ | 407.1 | $ | 577.3 | ||||||||||||||||||
SUPPLEMENTARY INFORMATION | ||||||||||||||||||||||||||||
Cash Paid for Interest, Net of Capitalized Amounts | $ | 773.5 | $ | 591.2 | ||||||||||||||||||||||||
Net Cash Paid for Income Taxes | 9.9 | 95.5 | ||||||||||||||||||||||||||
Noncash Acquisitions Under Finance Leases | 25.6 | 13.7 | ||||||||||||||||||||||||||
Construction Expenditures Included in Current Liabilities as of June 30, | 966.6 | 849.1 | ||||||||||||||||||||||||||
Acquisition of Nuclear Fuel Included in Current Liabilities as of June 30, | (36.0) | — | ||||||||||||||||||||||||||
Three Months Ended | Six Months Ended | Three Months Ended | Nine Months Ended | |||||||||||||||||||||||||||||||||||||||||||
June 30, | June 30, | September 30, | September 30, | |||||||||||||||||||||||||||||||||||||||||||
2023 | 2022 | 2023 | 2022 | 2023 | 2022 | 2023 | 2022 | |||||||||||||||||||||||||||||||||||||||
(in millions of KWhs) | (in millions of KWhs) | |||||||||||||||||||||||||||||||||||||||||||||
Retail: | Retail: | Retail: | ||||||||||||||||||||||||||||||||||||||||||||
Residential | Residential | 3,082 | 3,531 | 5,614 | 6,374 | Residential | 4,681 | 4,079 | 10,295 | 10,453 | ||||||||||||||||||||||||||||||||||||
Commercial | Commercial | 3,443 | 3,091 | 6,187 | 5,239 | Commercial | 4,021 | 3,243 | 10,208 | 8,482 | ||||||||||||||||||||||||||||||||||||
Industrial | Industrial | 3,171 | 3,023 | 6,279 | 5,450 | Industrial | 3,065 | 2,993 | 9,344 | 8,443 | ||||||||||||||||||||||||||||||||||||
Miscellaneous | Miscellaneous | 153 | 173 | 291 | 314 | Miscellaneous | 196 | 185 | 487 | 499 | ||||||||||||||||||||||||||||||||||||
Total Retail | Total Retail | 9,849 | 9,818 | 18,371 | 17,377 | Total Retail | 11,963 | 10,500 | 30,334 | 27,877 |
Three Months Ended | Six Months Ended | Three Months Ended | Nine Months Ended | |||||||||||||||||||||||||||||||||||||||||||
June 30, | June 30, | September 30, | September 30, | |||||||||||||||||||||||||||||||||||||||||||
2023 | 2022 | 2023 | 2022 | 2023 | 2022 | 2023 | 2022 | |||||||||||||||||||||||||||||||||||||||
(in degree days) | (in degree days) | |||||||||||||||||||||||||||||||||||||||||||||
Actual – Heating (a) | Actual – Heating (a) | 2 | — | 143 | 278 | Actual – Heating (a) | — | — | 143 | 278 | ||||||||||||||||||||||||||||||||||||
Normal – Heating (b) | Normal – Heating (b) | 3 | 3 | 197 | 193 | Normal – Heating (b) | — | — | 197 | 193 | ||||||||||||||||||||||||||||||||||||
Actual – Cooling (c) | Actual – Cooling (c) | 955 | 1,135 | 1,226 | 1,223 | Actual – Cooling (c) | 1,719 | 1,478 | 2,945 | 2,701 | ||||||||||||||||||||||||||||||||||||
Normal – Cooling (b) | Normal – Cooling (b) | 940 | 925 | 1,067 | 1,051 | Normal – Cooling (b) | 1,387 | 1,382 | 2,454 | 2,433 |
AEP Texas Inc. and Subsidiaries | AEP Texas Inc. and Subsidiaries | AEP Texas Inc. and Subsidiaries | ||||||||||||||||||||||||||
Reconciliation of 2022 to 2023 Net Income | Reconciliation of 2022 to 2023 Net Income | Reconciliation of 2022 to 2023 Net Income | ||||||||||||||||||||||||||
(in millions) | (in millions) | (in millions) | ||||||||||||||||||||||||||
Three Months Ended June 30, | Six Months Ended June 30, | Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||||||||||||
2022 Net Income | 2022 Net Income | $ | 90.0 | $ | 159.6 | 2022 Net Income | $ | 93.6 | $ | 253.2 | ||||||||||||||||||
Changes in Revenues: | Changes in Revenues: | Changes in Revenues: | ||||||||||||||||||||||||||
Retail Revenues | Retail Revenues | (37.1) | (35.5) | Retail Revenues | 32.7 | (2.9) | ||||||||||||||||||||||
Transmission Revenues | Transmission Revenues | 20.1 | 32.5 | Transmission Revenues | 13.7 | 46.3 | ||||||||||||||||||||||
Other Revenues | Other Revenues | (0.6) | (1.8) | Other Revenues | (0.7) | (2.5) | ||||||||||||||||||||||
Total Change in Revenues | Total Change in Revenues | (17.6) | (4.8) | Total Change in Revenues | 45.7 | 40.9 | ||||||||||||||||||||||
Changes in Expenses and Other: | Changes in Expenses and Other: | Changes in Expenses and Other: | ||||||||||||||||||||||||||
Other Operation and Maintenance | Other Operation and Maintenance | 46.6 | 23.7 | Other Operation and Maintenance | 7.1 | 30.8 | ||||||||||||||||||||||
Depreciation and Amortization | Depreciation and Amortization | 1.3 | (0.9) | Depreciation and Amortization | (7.9) | (8.8) | ||||||||||||||||||||||
Taxes Other Than Income Taxes | Taxes Other Than Income Taxes | (1.8) | (8.0) | Taxes Other Than Income Taxes | (3.1) | (11.1) | ||||||||||||||||||||||
Interest Income | Interest Income | (0.7) | (0.4) | Interest Income | (0.8) | (1.2) | ||||||||||||||||||||||
Allowance for Equity Funds Used During Construction | Allowance for Equity Funds Used During Construction | 1.6 | 3.6 | Allowance for Equity Funds Used During Construction | 2.6 | 6.2 | ||||||||||||||||||||||
Non-Service Cost Components of Net Periodic Benefit Cost | Non-Service Cost Components of Net Periodic Benefit Cost | 0.7 | 1.3 | Non-Service Cost Components of Net Periodic Benefit Cost | 0.6 | 1.9 | ||||||||||||||||||||||
Interest Expense | Interest Expense | (4.0) | (15.4) | Interest Expense | (4.5) | (19.9) | ||||||||||||||||||||||
Total Change in Expenses and Other | Total Change in Expenses and Other | 43.7 | 3.9 | Total Change in Expenses and Other | (6.0) | (2.1) | ||||||||||||||||||||||
Income Tax Expense | Income Tax Expense | (7.0) | (2.0) | Income Tax Expense | (7.8) | (9.8) | ||||||||||||||||||||||
2023 Net Income | 2023 Net Income | $ | 109.1 | $ | 156.7 | 2023 Net Income | $ | 125.5 | $ | 282.2 |
Three Months Ended | Six Months Ended | Three Months Ended | Nine Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||
June 30, | June 30, | September 30, | September 30, | |||||||||||||||||||||||||||||||||||||||||||||||||
2023 | 2022 | 2023 | 2022 | 2023 | 2022 | 2023 | 2022 | |||||||||||||||||||||||||||||||||||||||||||||
REVENUES | REVENUES | REVENUES | ||||||||||||||||||||||||||||||||||||||||||||||||||
Electric Transmission and Distribution | Electric Transmission and Distribution | $ | 459.4 | $ | 476.9 | $ | 887.1 | $ | 891.6 | Electric Transmission and Distribution | $ | 551.6 | $ | 507.7 | $ | 1,438.7 | $ | 1,399.3 | ||||||||||||||||||||||||||||||||||
Sales to AEP Affiliates | Sales to AEP Affiliates | 1.3 | 0.8 | 2.5 | 1.7 | Sales to AEP Affiliates | 1.2 | 0.9 | 3.7 | 2.6 | ||||||||||||||||||||||||||||||||||||||||||
Other Revenues | Other Revenues | 0.5 | 1.1 | 1.1 | 2.2 | Other Revenues | 1.8 | 0.3 | 2.9 | 2.5 | ||||||||||||||||||||||||||||||||||||||||||
TOTAL REVENUES | TOTAL REVENUES | 461.2 | 478.8 | 890.7 | 895.5 | TOTAL REVENUES | 554.6 | 508.9 | 1,445.3 | 1,404.4 | ||||||||||||||||||||||||||||||||||||||||||
EXPENSES | EXPENSES | EXPENSES | ||||||||||||||||||||||||||||||||||||||||||||||||||
Other Operation | Other Operation | 93.9 | 142.0 | 240.8 | 267.8 | Other Operation | 154.4 | 163.8 | 395.2 | 431.6 | ||||||||||||||||||||||||||||||||||||||||||
Maintenance | Maintenance | 26.3 | 24.8 | 50.7 | 47.4 | Maintenance | 25.0 | 22.7 | 75.7 | 70.1 | ||||||||||||||||||||||||||||||||||||||||||
Depreciation and Amortization | Depreciation and Amortization | 114.9 | 116.2 | 225.9 | 225.0 | Depreciation and Amortization | 125.6 | 117.7 | 351.5 | 342.7 | ||||||||||||||||||||||||||||||||||||||||||
Taxes Other Than Income Taxes | Taxes Other Than Income Taxes | 44.8 | 43.0 | 88.3 | 80.3 | Taxes Other Than Income Taxes | 48.6 | 45.5 | 136.9 | 125.8 | ||||||||||||||||||||||||||||||||||||||||||
TOTAL EXPENSES | TOTAL EXPENSES | 279.9 | 326.0 | 605.7 | 620.5 | TOTAL EXPENSES | 353.6 | 349.7 | 959.3 | 970.2 | ||||||||||||||||||||||||||||||||||||||||||
OPERATING INCOME | OPERATING INCOME | 181.3 | 152.8 | 285.0 | 275.0 | OPERATING INCOME | 201.0 | 159.2 | 486.0 | 434.2 | ||||||||||||||||||||||||||||||||||||||||||
Other Income (Expense): | Other Income (Expense): | Other Income (Expense): | ||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Income | Interest Income | 0.6 | 1.3 | 1.0 | 1.4 | Interest Income | 0.5 | 1.3 | 1.5 | 2.7 | ||||||||||||||||||||||||||||||||||||||||||
Allowance for Equity Funds Used During Construction | Allowance for Equity Funds Used During Construction | 5.3 | 3.7 | 11.6 | 8.0 | Allowance for Equity Funds Used During Construction | 7.8 | 5.2 | 19.4 | 13.2 | ||||||||||||||||||||||||||||||||||||||||||
Non-Service Cost Components of Net Periodic Benefit Cost | Non-Service Cost Components of Net Periodic Benefit Cost | 4.8 | 4.1 | 9.6 | 8.3 | Non-Service Cost Components of Net Periodic Benefit Cost | 4.8 | 4.2 | 14.4 | 12.5 | ||||||||||||||||||||||||||||||||||||||||||
Interest Expense | Interest Expense | (56.3) | (52.3) | (113.2) | (97.8) | Interest Expense | (59.9) | (55.4) | (173.1) | (153.2) | ||||||||||||||||||||||||||||||||||||||||||
INCOME BEFORE INCOME TAX EXPENSE | INCOME BEFORE INCOME TAX EXPENSE | 135.7 | 109.6 | 194.0 | 194.9 | INCOME BEFORE INCOME TAX EXPENSE | 154.2 | 114.5 | 348.2 | 309.4 | ||||||||||||||||||||||||||||||||||||||||||
Income Tax Expense | Income Tax Expense | 26.6 | 19.6 | 37.3 | 35.3 | Income Tax Expense | 28.7 | 20.9 | 66.0 | 56.2 | ||||||||||||||||||||||||||||||||||||||||||
NET INCOME | NET INCOME | $ | 109.1 | $ | 90.0 | $ | 156.7 | $ | 159.6 | NET INCOME | $ | 125.5 | $ | 93.6 | $ | 282.2 | $ | 253.2 | ||||||||||||||||||||||||||||||||||
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 | Six Months Ended | |||||||||||||||||||||||||
June 30, | June 30, | |||||||||||||||||||||||||
2023 | 2022 | 2023 | 2022 | |||||||||||||||||||||||
Net Income | $ | 109.1 | $ | 90.0 | $ | 156.7 | $ | 159.6 | ||||||||||||||||||
OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAXES | ||||||||||||||||||||||||||
Cash Flow Hedges, Net of Tax of $0.8 and $0 for the Three Months Ended June 30, 2023 and 2022, Respectively, and $0.8 and $0.1 for the Six Months Ended June 30, 2023 and 2022, Respectively | 3.2 | 0.2 | 3.2 | 0.5 | ||||||||||||||||||||||
Amortization of Pension and OPEB Deferred Costs, Net of Tax of $0 and $0 for the Three Months Ended June 30, 2023 and 2022, Respectively, and $(0.1) and $0 for the Six Months Ended June 30, 2023 and 2022, Respectively | — | — | (0.6) | — | ||||||||||||||||||||||
TOTAL OTHER COMPREHENSIVE INCOME | 3.2 | 0.2 | 2.6 | 0.5 | ||||||||||||||||||||||
TOTAL COMPREHENSIVE INCOME | $ | 112.3 | $ | 90.2 | $ | 159.3 | $ | 160.1 | ||||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||||||||||||
September 30, | September 30, | |||||||||||||||||||||||||
2023 | 2022 | 2023 | 2022 | |||||||||||||||||||||||
Net Income | $ | 125.5 | $ | 93.6 | $ | 282.2 | $ | 253.2 | ||||||||||||||||||
OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAXES | ||||||||||||||||||||||||||
Cash Flow Hedges, Net of Tax of $0 and $0.1 for the Three Months Ended September 30, 2023 and 2022, Respectively, and $0.8 and $0.2 for the Nine Months Ended September 30, 2023 and 2022, Respectively | (0.1) | 0.3 | 3.1 | 0.8 | ||||||||||||||||||||||
Amortization of Pension and OPEB Deferred Costs, Net of Tax of $0 and $0 for the Three Months Ended September 30, 2023 and 2022, Respectively, and $(0.1) and $0 for the Nine Months Ended September 30, 2023 and 2022, Respectively | — | — | (0.6) | — | ||||||||||||||||||||||
TOTAL OTHER COMPREHENSIVE INCOME (LOSS) | (0.1) | 0.3 | 2.5 | 0.8 | ||||||||||||||||||||||
TOTAL COMPREHENSIVE INCOME | $ | 125.4 | $ | 93.9 | $ | 284.7 | $ | 254.0 | ||||||||||||||||||
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, 2021 | TOTAL COMMON SHAREHOLDER’S EQUITY – DECEMBER 31, 2021 | $ | 1,553.9 | $ | 2,046.8 | $ | (6.5) | $ | 3,594.2 | TOTAL COMMON SHAREHOLDER’S EQUITY – DECEMBER 31, 2021 | $ | 1,553.9 | $ | 2,046.8 | $ | (6.5) | $ | 3,594.2 | ||||||||||||||||||||||||||||||||||
Net Income | Net Income | 69.6 | 69.6 | Net Income | 69.6 | 69.6 | ||||||||||||||||||||||||||||||||||||||||||||||
Other Comprehensive Income | Other Comprehensive Income | 0.3 | 0.3 | Other Comprehensive Income | 0.3 | 0.3 | ||||||||||||||||||||||||||||||||||||||||||||||
TOTAL COMMON SHAREHOLDER’S EQUITY – MARCH 31, 2022 | TOTAL COMMON SHAREHOLDER’S EQUITY – MARCH 31, 2022 | 1,553.9 | 2,116.4 | (6.2) | 3,664.1 | TOTAL COMMON SHAREHOLDER’S EQUITY – MARCH 31, 2022 | 1,553.9 | 2,116.4 | (6.2) | 3,664.1 | ||||||||||||||||||||||||||||||||||||||||||
Capital Contribution from Parent | Capital Contribution from Parent | 1.3 | 1.3 | Capital Contribution from Parent | 1.3 | 1.3 | ||||||||||||||||||||||||||||||||||||||||||||||
Net Income | Net Income | 90.0 | 90.0 | Net Income | 90.0 | 90.0 | ||||||||||||||||||||||||||||||||||||||||||||||
Other Comprehensive Income | Other Comprehensive Income | 0.2 | 0.2 | Other Comprehensive Income | 0.2 | 0.2 | ||||||||||||||||||||||||||||||||||||||||||||||
TOTAL COMMON SHAREHOLDER’S EQUITY – JUNE 30, 2022 | TOTAL COMMON SHAREHOLDER’S EQUITY – JUNE 30, 2022 | $ | 1,555.2 | $ | 2,206.4 | $ | (6.0) | $ | 3,755.6 | TOTAL COMMON SHAREHOLDER’S EQUITY – JUNE 30, 2022 | 1,555.2 | 2,206.4 | (6.0) | 3,755.6 | ||||||||||||||||||||||||||||||||||||||
Capital Contribution from Parent | Capital Contribution from Parent | 0.5 | 0.5 | |||||||||||||||||||||||||||||||||||||||||||||||||
Net Income | Net Income | 93.6 | 93.6 | |||||||||||||||||||||||||||||||||||||||||||||||||
Other Comprehensive Income | Other Comprehensive Income | 0.3 | 0.3 | |||||||||||||||||||||||||||||||||||||||||||||||||
TOTAL COMMON SHAREHOLDER’S EQUITY – SEPTEMBER 30, 2022 | TOTAL COMMON SHAREHOLDER’S EQUITY – SEPTEMBER 30, 2022 | $ | 1,555.7 | $ | 2,300.0 | $ | (5.7) | $ | 3,850.0 | |||||||||||||||||||||||||||||||||||||||||||
TOTAL COMMON SHAREHOLDER’S EQUITY – DECEMBER 31, 2022 | TOTAL COMMON SHAREHOLDER’S EQUITY – DECEMBER 31, 2022 | $ | 1,558.2 | $ | 2,354.7 | $ | (8.6) | $ | 3,904.3 | TOTAL COMMON SHAREHOLDER’S EQUITY – DECEMBER 31, 2022 | $ | 1,558.2 | $ | 2,354.7 | $ | (8.6) | $ | 3,904.3 | ||||||||||||||||||||||||||||||||||
Capital Contribution from Parent | Capital Contribution from Parent | 100.0 | 100.0 | Capital Contribution from Parent | 100.0 | 100.0 | ||||||||||||||||||||||||||||||||||||||||||||||
Net Income | Net Income | 47.6 | 47.6 | Net Income | 47.6 | 47.6 | ||||||||||||||||||||||||||||||||||||||||||||||
Other Comprehensive Loss | Other Comprehensive Loss | (0.6) | (0.6) | Other Comprehensive Loss | (0.6) | (0.6) | ||||||||||||||||||||||||||||||||||||||||||||||
TOTAL COMMON SHAREHOLDER’S EQUITY – MARCH 31, 2023 | TOTAL COMMON SHAREHOLDER’S EQUITY – MARCH 31, 2023 | 1,658.2 | 2,402.3 | (9.2) | 4,051.3 | TOTAL COMMON SHAREHOLDER’S EQUITY – MARCH 31, 2023 | 1,658.2 | 2,402.3 | (9.2) | 4,051.3 | ||||||||||||||||||||||||||||||||||||||||||
Capital Contribution from Parent | Capital Contribution from Parent | 175.3 | 175.3 | Capital Contribution from Parent | 175.3 | 175.3 | ||||||||||||||||||||||||||||||||||||||||||||||
Return of Capital to Parent | Return of Capital to Parent | (4.3) | (4.3) | Return of Capital to Parent | (4.3) | (4.3) | ||||||||||||||||||||||||||||||||||||||||||||||
Net Income | Net Income | 109.1 | 109.1 | Net Income | 109.1 | 109.1 | ||||||||||||||||||||||||||||||||||||||||||||||
Other Comprehensive Income | Other Comprehensive Income | 3.2 | 3.2 | Other Comprehensive Income | 3.2 | 3.2 | ||||||||||||||||||||||||||||||||||||||||||||||
TOTAL COMMON SHAREHOLDER’S EQUITY – JUNE 30, 2023 | TOTAL COMMON SHAREHOLDER’S EQUITY – JUNE 30, 2023 | $ | 1,829.2 | $ | 2,511.4 | $ | (6.0) | $ | 4,334.6 | TOTAL COMMON SHAREHOLDER’S EQUITY – JUNE 30, 2023 | 1,829.2 | 2,511.4 | (6.0) | 4,334.6 | ||||||||||||||||||||||||||||||||||||||
Capital Contribution from Parent | Capital Contribution from Parent | 250.5 | 250.5 | |||||||||||||||||||||||||||||||||||||||||||||||||
Net Income | Net Income | 125.5 | 125.5 | |||||||||||||||||||||||||||||||||||||||||||||||||
Other Comprehensive Loss | Other Comprehensive Loss | (0.1) | (0.1) | |||||||||||||||||||||||||||||||||||||||||||||||||
TOTAL COMMON SHAREHOLDER’S EQUITY – SEPTEMBER 30, 2023 | TOTAL COMMON SHAREHOLDER’S EQUITY – SEPTEMBER 30, 2023 | $ | 2,079.7 | $ | 2,636.9 | $ | (6.1) | $ | 4,710.5 | |||||||||||||||||||||||||||||||||||||||||||
June 30, | December 31, | September 30, | December 31, | |||||||||||||||||||||||||
2023 | 2022 | 2023 | 2022 | |||||||||||||||||||||||||
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 (June 30, 2023 and December 31, 2022 Amounts Include $30.7 and $32.7, Respectively, Related to Transition Funding and Restoration Funding) | 30.7 | 32.7 | ||||||||||||||||||||||||||
Restricted Cash (September 30, 2023 and December 31, 2022 Amounts Include $46.9 and $32.7, Respectively, Related to Transition Funding and Restoration Funding) | Restricted Cash (September 30, 2023 and December 31, 2022 Amounts Include $46.9 and $32.7, Respectively, Related to Transition Funding and Restoration Funding) | 46.9 | 32.7 | |||||||||||||||||||||||||
Advances to Affiliates | Advances to Affiliates | 6.9 | 6.9 | Advances to Affiliates | 49.0 | 6.9 | ||||||||||||||||||||||
Accounts Receivable: | Accounts Receivable: | Accounts Receivable: | ||||||||||||||||||||||||||
Customers | Customers | 173.2 | 150.9 | Customers | 209.6 | 150.9 | ||||||||||||||||||||||
Affiliated Companies | Affiliated Companies | 22.9 | 11.9 | Affiliated Companies | 20.1 | 11.9 | ||||||||||||||||||||||
Accrued Unbilled Revenues | Accrued Unbilled Revenues | 91.6 | 91.4 | Accrued Unbilled Revenues | 106.6 | 91.4 | ||||||||||||||||||||||
Miscellaneous | Miscellaneous | 0.5 | 0.2 | Miscellaneous | 0.7 | 0.2 | ||||||||||||||||||||||
Allowance for Uncollectible Accounts | Allowance for Uncollectible Accounts | (4.9) | (4.2) | Allowance for Uncollectible Accounts | (5.0) | (4.2) | ||||||||||||||||||||||
Total Accounts Receivable | Total Accounts Receivable | 283.3 | 250.2 | Total Accounts Receivable | 332.0 | 250.2 | ||||||||||||||||||||||
Materials and Supplies | Materials and Supplies | 157.3 | 138.8 | Materials and Supplies | 170.9 | 138.8 | ||||||||||||||||||||||
Prepayments and Other Current Assets | Prepayments and Other Current Assets | 8.9 | 18.2 | Prepayments and Other Current Assets | 25.9 | 18.2 | ||||||||||||||||||||||
TOTAL CURRENT ASSETS | TOTAL CURRENT ASSETS | 487.2 | 446.9 | TOTAL CURRENT ASSETS | 624.8 | 446.9 | ||||||||||||||||||||||
PROPERTY, PLANT AND EQUIPMENT | PROPERTY, PLANT AND EQUIPMENT | PROPERTY, PLANT AND EQUIPMENT | ||||||||||||||||||||||||||
Electric: | Electric: | Electric: | ||||||||||||||||||||||||||
Transmission | Transmission | 6,487.9 | 6,301.5 | Transmission | 6,579.9 | 6,301.5 | ||||||||||||||||||||||
Distribution | Distribution | 5,572.7 | 5,312.8 | Distribution | 5,694.5 | 5,312.8 | ||||||||||||||||||||||
Other Property, Plant and Equipment | Other Property, Plant and Equipment | 1,098.3 | 1,022.8 | Other Property, Plant and Equipment | 1,119.6 | 1,022.8 | ||||||||||||||||||||||
Construction Work in Progress | Construction Work in Progress | 984.9 | 805.2 | Construction Work in Progress | 1,053.9 | 805.2 | ||||||||||||||||||||||
Total Property, Plant and Equipment | Total Property, Plant and Equipment | 14,143.8 | 13,442.3 | Total Property, Plant and Equipment | 14,447.9 | 13,442.3 | ||||||||||||||||||||||
Accumulated Depreciation and Amortization | Accumulated Depreciation and Amortization | 1,829.1 | 1,760.7 | Accumulated Depreciation and Amortization | 1,857.1 | 1,760.7 | ||||||||||||||||||||||
TOTAL PROPERTY, PLANT AND EQUIPMENT – NET | TOTAL PROPERTY, PLANT AND EQUIPMENT – NET | 12,314.7 | 11,681.6 | TOTAL PROPERTY, PLANT AND EQUIPMENT – NET | 12,590.8 | 11,681.6 | ||||||||||||||||||||||
OTHER NONCURRENT ASSETS | OTHER NONCURRENT ASSETS | OTHER NONCURRENT ASSETS | ||||||||||||||||||||||||||
Regulatory Assets | Regulatory Assets | 326.5 | 298.3 | Regulatory Assets | 307.7 | 298.3 | ||||||||||||||||||||||
Securitized Assets (June 30, 2023 and December 31, 2022 Amounts Include $247.8 and $286.4, Respectively, Related to Transition Funding and Restoration Funding) | 247.8 | 286.4 | ||||||||||||||||||||||||||
Securitized Assets (September 30, 2023 and December 31, 2022 Amounts Include $225.5 and $286.4, Respectively, Related to Transition Funding and Restoration Funding) | Securitized Assets (September 30, 2023 and December 31, 2022 Amounts Include $225.5 and $286.4, Respectively, Related to Transition Funding and Restoration Funding) | 225.5 | 286.4 | |||||||||||||||||||||||||
Deferred Charges and Other Noncurrent Assets | Deferred Charges and Other Noncurrent Assets | 238.2 | 179.0 | Deferred Charges and Other Noncurrent Assets | 208.9 | 179.0 | ||||||||||||||||||||||
TOTAL OTHER NONCURRENT ASSETS | TOTAL OTHER NONCURRENT ASSETS | 812.5 | 763.7 | TOTAL OTHER NONCURRENT ASSETS | 742.1 | 763.7 | ||||||||||||||||||||||
TOTAL ASSETS | TOTAL ASSETS | $ | 13,614.4 | $ | 12,892.2 | TOTAL ASSETS | $ | 13,957.7 | $ | 12,892.2 | ||||||||||||||||||
June 30, | December 31, | September 30, | December 31, | |||||||||||||||||||||||||
2023 | 2022 | 2023 | 2022 | |||||||||||||||||||||||||
CURRENT LIABILITIES | CURRENT LIABILITIES | CURRENT LIABILITIES | ||||||||||||||||||||||||||
Advances from Affiliates | Advances from Affiliates | $ | 135.9 | $ | 96.5 | Advances from Affiliates | $ | — | $ | 96.5 | ||||||||||||||||||
Accounts Payable: | Accounts Payable: | Accounts Payable: | ||||||||||||||||||||||||||
General | General | 247.2 | 331.0 | General | 249.3 | 331.0 | ||||||||||||||||||||||
Affiliated Companies | Affiliated Companies | 34.3 | 34.7 | Affiliated Companies | 31.5 | 34.7 | ||||||||||||||||||||||
Long-term Debt Due Within One Year – Nonaffiliated (June 30, 2023 and December 31, 2022 Amounts Include $94.7 and $93.5, Respectively, Related to Transition Funding and Restoration Funding) | 154.7 | 278.5 | ||||||||||||||||||||||||||
Long-term Debt Due Within One Year – Nonaffiliated (September 30, 2023 and December 31, 2022 Amounts Include $94.9 and $93.5, Respectively, Related to Transition Funding and Restoration Funding) | Long-term Debt Due Within One Year – Nonaffiliated (September 30, 2023 and December 31, 2022 Amounts Include $94.9 and $93.5, Respectively, Related to Transition Funding and Restoration Funding) | 94.9 | 278.5 | |||||||||||||||||||||||||
Accrued Taxes | Accrued Taxes | 138.7 | 95.5 | Accrued Taxes | 139.6 | 95.5 | ||||||||||||||||||||||
Accrued Interest (June 30, 2023 and December 31, 2022 Amounts Include $2.1 and $2.2, Respectively, Related to Transition Funding and Restoration Funding) | 50.5 | 48.3 | ||||||||||||||||||||||||||
Accrued Interest (September 30, 2023 and December 31, 2022 Amounts Include $2 and $2.2, Respectively, Related to Transition Funding and Restoration Funding) | Accrued Interest (September 30, 2023 and December 31, 2022 Amounts Include $2 and $2.2, Respectively, Related to Transition Funding and Restoration Funding) | 81.4 | 48.3 | |||||||||||||||||||||||||
Obligations Under Operating Leases | Obligations Under Operating Leases | 29.8 | 28.6 | Obligations Under Operating Leases | 30.2 | 28.6 | ||||||||||||||||||||||
Other Current Liabilities | Other Current Liabilities | 132.6 | 130.7 | Other Current Liabilities | 153.9 | 130.7 | ||||||||||||||||||||||
TOTAL CURRENT LIABILITIES | TOTAL CURRENT LIABILITIES | 923.7 | 1,043.8 | TOTAL CURRENT LIABILITIES | 780.8 | 1,043.8 | ||||||||||||||||||||||
NONCURRENT LIABILITIES | NONCURRENT LIABILITIES | NONCURRENT LIABILITIES | ||||||||||||||||||||||||||
Long-term Debt – Nonaffiliated (June 30, 2023 and December 31, 2022 Amounts Include $177 and $221, Respectively, Related to Transition Funding and Restoration Funding) | 5,782.8 | 5,379.3 | ||||||||||||||||||||||||||
Long-term Debt – Nonaffiliated (September 30, 2023 and December 31, 2022 Amounts Include $165.1 and $221, Respectively, Related to Transition Funding and Restoration Funding) | Long-term Debt – Nonaffiliated (September 30, 2023 and December 31, 2022 Amounts Include $165.1 and $221, Respectively, Related to Transition Funding and Restoration Funding) | 5,831.8 | 5,379.3 | |||||||||||||||||||||||||
Deferred Income Taxes | Deferred Income Taxes | 1,180.3 | 1,144.2 | Deferred Income Taxes | 1,220.8 | 1,144.2 | ||||||||||||||||||||||
Regulatory Liabilities and Deferred Investment Tax Credits | Regulatory Liabilities and Deferred Investment Tax Credits | 1,250.6 | 1,259.6 | Regulatory Liabilities and Deferred Investment Tax Credits | 1,256.7 | 1,259.6 | ||||||||||||||||||||||
Obligations Under Operating Leases | Obligations Under Operating Leases | 59.2 | 67.8 | Obligations Under Operating Leases | 54.6 | 67.8 | ||||||||||||||||||||||
Deferred Credits and Other Noncurrent Liabilities | Deferred Credits and Other Noncurrent Liabilities | 83.2 | 93.2 | Deferred Credits and Other Noncurrent Liabilities | 102.5 | 93.2 | ||||||||||||||||||||||
TOTAL NONCURRENT LIABILITIES | TOTAL NONCURRENT LIABILITIES | 8,356.1 | 7,944.1 | TOTAL NONCURRENT LIABILITIES | 8,466.4 | 7,944.1 | ||||||||||||||||||||||
TOTAL LIABILITIES | TOTAL LIABILITIES | 9,279.8 | 8,987.9 | TOTAL LIABILITIES | 9,247.2 | 8,987.9 | ||||||||||||||||||||||
Rate Matters (Note 4) | Rate Matters (Note 4) | Rate Matters (Note 4) | ||||||||||||||||||||||||||
Commitments and Contingencies (Note 5) | Commitments and Contingencies (Note 5) | Commitments and Contingencies (Note 5) | ||||||||||||||||||||||||||
COMMON SHAREHOLDER’S EQUITY | COMMON SHAREHOLDER’S EQUITY | COMMON SHAREHOLDER’S EQUITY | ||||||||||||||||||||||||||
Paid-in Capital | Paid-in Capital | 1,829.2 | 1,558.2 | Paid-in Capital | 2,079.7 | 1,558.2 | ||||||||||||||||||||||
Retained Earnings | Retained Earnings | 2,511.4 | 2,354.7 | Retained Earnings | 2,636.9 | 2,354.7 | ||||||||||||||||||||||
Accumulated Other Comprehensive Income (Loss) | Accumulated Other Comprehensive Income (Loss) | (6.0) | (8.6) | Accumulated Other Comprehensive Income (Loss) | (6.1) | (8.6) | ||||||||||||||||||||||
TOTAL COMMON SHAREHOLDER’S EQUITY | TOTAL COMMON SHAREHOLDER’S EQUITY | 4,334.6 | 3,904.3 | TOTAL COMMON SHAREHOLDER’S EQUITY | 4,710.5 | 3,904.3 | ||||||||||||||||||||||
TOTAL LIABILITIES AND COMMON SHAREHOLDER’S EQUITY | TOTAL LIABILITIES AND COMMON SHAREHOLDER’S EQUITY | $ | 13,614.4 | $ | 12,892.2 | TOTAL LIABILITIES AND COMMON SHAREHOLDER’S EQUITY | $ | 13,957.7 | $ | 12,892.2 | ||||||||||||||||||
Six Months Ended June 30, | Nine Months Ended September 30, | |||||||||||||||||||||||||||
2023 | 2022 | 2023 | 2022 | |||||||||||||||||||||||||
OPERATING ACTIVITIES | OPERATING ACTIVITIES | OPERATING ACTIVITIES | ||||||||||||||||||||||||||
Net Income | Net Income | $ | 156.7 | $ | 159.6 | Net Income | $ | 282.2 | $ | 253.2 | ||||||||||||||||||
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 | 225.9 | 225.0 | Depreciation and Amortization | 351.5 | 342.7 | ||||||||||||||||||||||
Deferred Income Taxes | Deferred Income Taxes | 28.5 | 24.6 | Deferred Income Taxes | 64.2 | 35.1 | ||||||||||||||||||||||
Allowance for Equity Funds Used During Construction | Allowance for Equity Funds Used During Construction | (11.6) | (8.0) | Allowance for Equity Funds Used During Construction | (19.4) | (13.2) | ||||||||||||||||||||||
Mark-to-Market of Risk Management Contracts | Mark-to-Market of Risk Management Contracts | 0.4 | (0.2) | Mark-to-Market of Risk Management Contracts | — | (0.2) | ||||||||||||||||||||||
Property Taxes | (60.0) | (54.8) | ||||||||||||||||||||||||||
Change in Other Noncurrent Assets | Change in Other Noncurrent Assets | (89.7) | (25.9) | Change in Other Noncurrent Assets | (118.0) | (48.4) | ||||||||||||||||||||||
Change in Other Noncurrent Liabilities | Change in Other Noncurrent Liabilities | 7.8 | 32.1 | Change in Other Noncurrent Liabilities | 26.7 | 49.2 | ||||||||||||||||||||||
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 | (33.1) | (70.3) | Accounts Receivable, Net | (81.8) | (57.5) | ||||||||||||||||||||||
Materials and Supplies | Materials and Supplies | (18.5) | (24.1) | Materials and Supplies | (32.1) | (39.9) | ||||||||||||||||||||||
Accounts Payable | Accounts Payable | 1.9 | 17.9 | Accounts Payable | 0.7 | 16.0 | ||||||||||||||||||||||
Accrued Taxes, Net | Accrued Taxes, Net | 50.2 | 34.0 | Accrued Taxes, Net | 39.7 | 39.4 | ||||||||||||||||||||||
Other Current Assets | Other Current Assets | 2.9 | (0.8) | Other Current Assets | (0.7) | 1.0 | ||||||||||||||||||||||
Other Current Liabilities | Other Current Liabilities | (34.4) | 31.9 | Other Current Liabilities | (9.9) | 12.2 | ||||||||||||||||||||||
Net Cash Flows from Operating Activities | Net Cash Flows from Operating Activities | 227.0 | 341.0 | Net Cash Flows from Operating Activities | 503.1 | 589.6 | ||||||||||||||||||||||
INVESTING ACTIVITIES | INVESTING ACTIVITIES | INVESTING ACTIVITIES | ||||||||||||||||||||||||||
Construction Expenditures | Construction Expenditures | (834.2) | (647.6) | Construction Expenditures | (1,175.1) | (949.8) | ||||||||||||||||||||||
Change in Advances to Affiliates, Net | Change in Advances to Affiliates, Net | — | (634.0) | Change in Advances to Affiliates, Net | (42.1) | (129.4) | ||||||||||||||||||||||
Other Investing Activities | Other Investing Activities | 20.2 | 22.3 | Other Investing Activities | 42.2 | 26.7 | ||||||||||||||||||||||
Net Cash Flows Used for Investing Activities | Net Cash Flows Used for Investing Activities | (814.0) | (1,259.3) | Net Cash Flows Used for Investing Activities | (1,175.0) | (1,052.5) | ||||||||||||||||||||||
FINANCING ACTIVITIES | FINANCING ACTIVITIES | FINANCING ACTIVITIES | ||||||||||||||||||||||||||
Capital Contribution from Parent | Capital Contribution from Parent | 275.3 | 1.3 | Capital Contribution from Parent | 525.8 | 1.8 | ||||||||||||||||||||||
Return of Capital to Parent | Return of Capital to Parent | (4.3) | — | Return of Capital to Parent | (4.3) | — | ||||||||||||||||||||||
Issuance of Long-term Debt – Nonaffiliated | Issuance of Long-term Debt – Nonaffiliated | 445.9 | 1,188.6 | Issuance of Long-term Debt – Nonaffiliated | 505.4 | 1,188.7 | ||||||||||||||||||||||
Change in Advances from Affiliates, Net | Change in Advances from Affiliates, Net | 39.4 | (26.9) | Change in Advances from Affiliates, Net | (96.5) | (26.9) | ||||||||||||||||||||||
Retirement of Long-term Debt – Nonaffiliated | Retirement of Long-term Debt – Nonaffiliated | (168.2) | (242.0) | Retirement of Long-term Debt – Nonaffiliated | (240.0) | (678.6) | ||||||||||||||||||||||
Principal Payments for Finance Lease Obligations | Principal Payments for Finance Lease Obligations | (3.7) | (3.4) | Principal Payments for Finance Lease Obligations | (5.5) | (5.1) | ||||||||||||||||||||||
Other Financing Activities | Other Financing Activities | 0.6 | — | Other Financing Activities | 1.2 | 0.3 | ||||||||||||||||||||||
Net Cash Flows from Financing Activities | Net Cash Flows from Financing Activities | 585.0 | 917.6 | Net Cash Flows from Financing Activities | 686.1 | 480.2 | ||||||||||||||||||||||
Net Decrease in Cash, Cash Equivalents and Restricted Cash | (2.0) | (0.7) | ||||||||||||||||||||||||||
Net Increase in Cash, Cash Equivalents and Restricted Cash | Net Increase in Cash, Cash Equivalents and Restricted Cash | 14.2 | 17.3 | |||||||||||||||||||||||||
Cash, Cash Equivalents and Restricted Cash at Beginning of Period | Cash, Cash Equivalents and Restricted Cash at Beginning of Period | 32.8 | 30.5 | Cash, Cash Equivalents and Restricted Cash at Beginning of Period | 32.8 | 30.5 | ||||||||||||||||||||||
Cash, Cash Equivalents and Restricted Cash at End of Period | Cash, Cash Equivalents and Restricted Cash at End of Period | $ | 30.8 | $ | 29.8 | Cash, Cash Equivalents and Restricted Cash at End of Period | $ | 47.0 | $ | 47.8 | ||||||||||||||||||
SUPPLEMENTARY INFORMATION | SUPPLEMENTARY INFORMATION | SUPPLEMENTARY INFORMATION | ||||||||||||||||||||||||||
Cash Paid for Interest, Net of Capitalized Amounts | Cash Paid for Interest, Net of Capitalized Amounts | $ | 108.3 | $ | 88.8 | Cash Paid for Interest, Net of Capitalized Amounts | $ | 135.9 | $ | 121.1 | ||||||||||||||||||
Net Cash Paid for Income Taxes | Net Cash Paid for Income Taxes | 0.7 | 5.9 | Net Cash Paid for Income Taxes | 4.3 | 10.0 | ||||||||||||||||||||||
Noncash Acquisitions Under Finance Leases | Noncash Acquisitions Under Finance Leases | 2.6 | 3.0 | Noncash Acquisitions Under Finance Leases | 3.7 | 4.1 | ||||||||||||||||||||||
Construction Expenditures Included in Current Liabilities as of June 30, | 147.2 | 135.9 | ||||||||||||||||||||||||||
Construction Expenditures Included in Current Liabilities as of September 30, | Construction Expenditures Included in Current Liabilities as of September 30, | 153.6 | 156.0 | |||||||||||||||||||||||||
As of June 30, | As of September 30, | |||||||||||||||||||||||||||
2023 | 2022 | 2023 | 2022 | |||||||||||||||||||||||||
(in millions) | (in millions) | |||||||||||||||||||||||||||
Plant In Service | Plant In Service | $ | 13,269.6 | $ | 11,829.5 | Plant In Service | $ | 13,638.0 | $ | 12,223.9 | ||||||||||||||||||
Construction Work in Progress | Construction Work in Progress | 1,918.9 | 1,687.6 | Construction Work in Progress | 1,902.1 | 1,652.2 | ||||||||||||||||||||||
Accumulated Depreciation and Amortization | Accumulated Depreciation and Amortization | 1,150.8 | 901.0 | Accumulated Depreciation and Amortization | 1,221.2 | 966.5 | ||||||||||||||||||||||
Total Transmission Property, Net | Total Transmission Property, Net | $ | 14,037.7 | $ | 12,616.1 | Total Transmission Property, Net | $ | 14,318.9 | $ | 12,909.6 |
AEP Transmission Company, LLC and Subsidiaries | AEP Transmission Company, LLC and Subsidiaries | AEP Transmission Company, LLC and Subsidiaries | ||||||||||||||||||||||||||
Reconciliation of 2022 to 2023 Net Income | Reconciliation of 2022 to 2023 Net Income | Reconciliation of 2022 to 2023 Net Income | ||||||||||||||||||||||||||
(in millions) | (in millions) | (in millions) | ||||||||||||||||||||||||||
Three Months Ended June 30, | Six Months Ended June 30, | Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||||||||||||
2022 Net Income | 2022 Net Income | $ | 118.5 | $ | 273.9 | 2022 Net Income | $ | 152.7 | $ | 426.6 | ||||||||||||||||||
Changes in Transmission Revenues: | Changes in Transmission Revenues: | Changes in Transmission Revenues: | ||||||||||||||||||||||||||
Transmission Revenues | Transmission Revenues | 80.5 | 121.7 | Transmission Revenues | 44.2 | 165.9 | ||||||||||||||||||||||
Total Change in Transmission Revenues | Total Change in Transmission Revenues | 80.5 | 121.7 | Total Change in Transmission Revenues | 44.2 | 165.9 | ||||||||||||||||||||||
Changes in Expenses and Other: | Changes in Expenses and Other: | Changes in Expenses and Other: | ||||||||||||||||||||||||||
Other Operation and Maintenance | Other Operation and Maintenance | 2.7 | (2.4) | Other Operation and Maintenance | 7.0 | 4.6 | ||||||||||||||||||||||
Depreciation and Amortization | Depreciation and Amortization | (10.7) | (22.8) | Depreciation and Amortization | (12.2) | (35.0) | ||||||||||||||||||||||
Taxes Other Than Income Taxes | Taxes Other Than Income Taxes | 0.7 | (8.5) | Taxes Other Than Income Taxes | (5.1) | (13.6) | ||||||||||||||||||||||
Interest Income | Interest Income | 2.4 | 3.8 | Interest Income | 0.9 | 4.7 | ||||||||||||||||||||||
Allowance for Equity Funds Used During Construction | Allowance for Equity Funds Used During Construction | 7.8 | 8.6 | Allowance for Equity Funds Used During Construction | 2.4 | 11.0 | ||||||||||||||||||||||
Interest Expense | Interest Expense | (11.4) | (18.9) | Interest Expense | (8.9) | (27.8) | ||||||||||||||||||||||
Total Change in Expenses and Other | Total Change in Expenses and Other | (8.5) | (40.2) | Total Change in Expenses and Other | (15.9) | (56.1) | ||||||||||||||||||||||
Income Tax Expense | Income Tax Expense | (14.8) | (17.0) | Income Tax Expense | (1.8) | (18.8) | ||||||||||||||||||||||
2023 Net Income | 2023 Net Income | $ | 175.7 | $ | 338.4 | 2023 Net Income | $ | 179.2 | $ | 517.6 |
Three Months Ended | Six Months Ended | Three Months Ended | Nine Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||
June 30, | June 30, | September 30, | September 30, | |||||||||||||||||||||||||||||||||||||||||||||||||
2023 | 2022 | 2023 | 2022 | 2023 | 2022 | 2023 | 2022 | |||||||||||||||||||||||||||||||||||||||||||||
REVENUES | REVENUES | REVENUES | ||||||||||||||||||||||||||||||||||||||||||||||||||
Transmission Revenues | Transmission Revenues | $ | 90.2 | $ | 85.6 | $ | 180.2 | $ | 172.6 | Transmission Revenues | $ | 93.8 | $ | 89.1 | $ | 274.0 | $ | 261.7 | ||||||||||||||||||||||||||||||||||
Sales to AEP Affiliates | Sales to AEP Affiliates | 365.8 | 333.9 | 723.2 | 658.9 | Sales to AEP Affiliates | 374.7 | 340.6 | 1,097.9 | 999.5 | ||||||||||||||||||||||||||||||||||||||||||
Provision for Refund – Affiliated | Provision for Refund – Affiliated | (8.3) | (46.8) | (13.1) | (56.4) | Provision for Refund – Affiliated | (4.8) | (9.3) | (17.9) | (65.7) | ||||||||||||||||||||||||||||||||||||||||||
Provision for Refund – Nonaffiliated | Provision for Refund – Nonaffiliated | (2.8) | (8.3) | (3.8) | (10.3) | Provision for Refund – Nonaffiliated | (1.0) | (1.9) | (4.8) | (12.2) | ||||||||||||||||||||||||||||||||||||||||||
TOTAL REVENUES | TOTAL REVENUES | 444.9 | 364.4 | 886.5 | 764.8 | TOTAL REVENUES | 462.7 | 418.5 | 1,349.2 | 1,183.3 | ||||||||||||||||||||||||||||||||||||||||||
EXPENSES | EXPENSES | EXPENSES | ||||||||||||||||||||||||||||||||||||||||||||||||||
Other Operation | Other Operation | 26.4 | 29.6 | 55.4 | 55.1 | Other Operation | 31.6 | 39.6 | 87.0 | 94.7 | ||||||||||||||||||||||||||||||||||||||||||
Maintenance | Maintenance | 4.3 | 3.8 | 9.2 | 7.1 | Maintenance | 5.1 | 4.1 | 14.3 | 11.2 | ||||||||||||||||||||||||||||||||||||||||||
Depreciation and Amortization | Depreciation and Amortization | 96.4 | 85.7 | 191.6 | 168.8 | Depreciation and Amortization | 99.6 | 87.4 | 291.2 | 256.2 | ||||||||||||||||||||||||||||||||||||||||||
Taxes Other Than Income Taxes | Taxes Other Than Income Taxes | 68.0 | 68.7 | 142.8 | 134.3 | Taxes Other Than Income Taxes | 73.8 | 68.7 | 216.6 | 203.0 | ||||||||||||||||||||||||||||||||||||||||||
TOTAL EXPENSES | TOTAL EXPENSES | 195.1 | 187.8 | 399.0 | 365.3 | TOTAL EXPENSES | 210.1 | 199.8 | 609.1 | 565.1 | ||||||||||||||||||||||||||||||||||||||||||
OPERATING INCOME | OPERATING INCOME | 249.8 | 176.6 | 487.5 | 399.5 | OPERATING INCOME | 252.6 | 218.7 | 740.1 | 618.2 | ||||||||||||||||||||||||||||||||||||||||||
Other Income (Expense): | Other Income (Expense): | Other Income (Expense): | ||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Income - Affiliated | Interest Income - Affiliated | 2.6 | 0.2 | 4.1 | 0.3 | Interest Income - Affiliated | 1.6 | 0.7 | 5.7 | 1.0 | ||||||||||||||||||||||||||||||||||||||||||
Allowance for Equity Funds Used During Construction | Allowance for Equity Funds Used During Construction | 23.1 | 15.3 | 39.5 | 30.9 | Allowance for Equity Funds Used During Construction | 22.7 | 20.3 | 62.2 | 51.2 | ||||||||||||||||||||||||||||||||||||||||||
Interest Expense | Interest Expense | (50.7) | (39.3) | (95.9) | (77.0) | Interest Expense | (51.6) | (42.7) | (147.5) | (119.7) | ||||||||||||||||||||||||||||||||||||||||||
INCOME BEFORE INCOME TAX EXPENSE | INCOME BEFORE INCOME TAX EXPENSE | 224.8 | 152.8 | 435.2 | 353.7 | INCOME BEFORE INCOME TAX EXPENSE | 225.3 | 197.0 | 660.5 | 550.7 | ||||||||||||||||||||||||||||||||||||||||||
Income Tax Expense | Income Tax Expense | 49.1 | 34.3 | 96.8 | 79.8 | Income Tax Expense | 46.1 | 44.3 | 142.9 | 124.1 | ||||||||||||||||||||||||||||||||||||||||||
NET INCOME | NET INCOME | $ | 175.7 | $ | 118.5 | $ | 338.4 | $ | 273.9 | NET INCOME | $ | 179.2 | $ | 152.7 | $ | 517.6 | $ | 426.6 | ||||||||||||||||||||||||||||||||||
AEPTCo is wholly-owned by AEP Transmission Holdco. | 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, 2021 | TOTAL MEMBER'S EQUITY – DECEMBER 31, 2021 | $ | 2,949.6 | $ | 2,426.5 | $ | 5,376.1 | TOTAL MEMBER'S EQUITY – DECEMBER 31, 2021 | $ | 2,949.6 | $ | 2,426.5 | $ | 5,376.1 | ||||||||||||||||||||||||||
Dividends Paid to Member | Dividends Paid to Member | (40.0) | (40.0) | Dividends Paid to Member | (40.0) | (40.0) | ||||||||||||||||||||||||||||||||||
Net Income | Net Income | 155.4 | 155.4 | Net Income | 155.4 | 155.4 | ||||||||||||||||||||||||||||||||||
TOTAL MEMBER'S EQUITY – MARCH 31, 2022 | TOTAL MEMBER'S EQUITY – MARCH 31, 2022 | 2,949.6 | 2,541.9 | 5,491.5 | TOTAL MEMBER'S EQUITY – MARCH 31, 2022 | 2,949.6 | 2,541.9 | 5,491.5 | ||||||||||||||||||||||||||||||||
Capital Contribution from Member | Capital Contribution from Member | 2.8 | 2.8 | Capital Contribution from Member | 2.8 | 2.8 | ||||||||||||||||||||||||||||||||||
Dividends Paid to Member | Dividends Paid to Member | (50.0) | (50.0) | Dividends Paid to Member | (50.0) | (50.0) | ||||||||||||||||||||||||||||||||||
Net Income | Net Income | 118.5 | 118.5 | Net Income | 118.5 | 118.5 | ||||||||||||||||||||||||||||||||||
TOTAL MEMBER'S EQUITY – JUNE 30, 2022 | TOTAL MEMBER'S EQUITY – JUNE 30, 2022 | $ | 2,952.4 | $ | 2,610.4 | $ | 5,562.8 | TOTAL MEMBER'S EQUITY – JUNE 30, 2022 | 2,952.4 | 2,610.4 | 5,562.8 | |||||||||||||||||||||||||||||
Capital Contribution from Member | Capital Contribution from Member | 61.4 | 61.4 | |||||||||||||||||||||||||||||||||||||
Dividends Paid to Member | Dividends Paid to Member | (40.0) | (40.0) | |||||||||||||||||||||||||||||||||||||
Net Income | Net Income | 152.7 | 152.7 | |||||||||||||||||||||||||||||||||||||
TOTAL MEMBER'S EQUITY – SEPTEMBER 30, 2022 | TOTAL MEMBER'S EQUITY – SEPTEMBER 30, 2022 | $ | 3,013.8 | $ | 2,723.1 | $ | 5,736.9 | |||||||||||||||||||||||||||||||||
TOTAL MEMBER'S EQUITY – DECEMBER 31, 2022 | TOTAL MEMBER'S EQUITY – DECEMBER 31, 2022 | $ | 3,022.3 | $ | 2,850.7 | $ | 5,873.0 | TOTAL MEMBER'S EQUITY – DECEMBER 31, 2022 | $ | 3,022.3 | $ | 2,850.7 | $ | 5,873.0 | ||||||||||||||||||||||||||
Capital Contribution from Member | Capital Contribution from Member | 25.0 | 25.0 | Capital Contribution from Member | 25.0 | 25.0 | ||||||||||||||||||||||||||||||||||
Dividends Paid to Member | Dividends Paid to Member | (55.0) | (55.0) | Dividends Paid to Member | (55.0) | (55.0) | ||||||||||||||||||||||||||||||||||
Net Income | Net Income | 162.7 | 162.7 | Net Income | 162.7 | 162.7 | ||||||||||||||||||||||||||||||||||
TOTAL MEMBER'S EQUITY – MARCH 31, 2023 | TOTAL MEMBER'S EQUITY – MARCH 31, 2023 | 3,047.3 | 2,958.4 | 6,005.7 | TOTAL MEMBER'S EQUITY – MARCH 31, 2023 | 3,047.3 | 2,958.4 | 6,005.7 | ||||||||||||||||||||||||||||||||
Return of Capital to Member | Return of Capital to Member | (8.6) | (8.6) | Return of Capital to Member | (8.6) | (8.6) | ||||||||||||||||||||||||||||||||||
Dividends Paid to Member | Dividends Paid to Member | (30.0) | (30.0) | Dividends Paid to Member | (30.0) | (30.0) | ||||||||||||||||||||||||||||||||||
Net Income | Net Income | 175.7 | 175.7 | Net Income | 175.7 | 175.7 | ||||||||||||||||||||||||||||||||||
TOTAL MEMBER'S EQUITY – JUNE 30, 2023 | TOTAL MEMBER'S EQUITY – JUNE 30, 2023 | $ | 3,038.7 | $ | 3,104.1 | $ | 6,142.8 | TOTAL MEMBER'S EQUITY – JUNE 30, 2023 | 3,038.7 | 3,104.1 | 6,142.8 | |||||||||||||||||||||||||||||
Capital Contribution from Member | Capital Contribution from Member | 2.9 | 2.9 | |||||||||||||||||||||||||||||||||||||
Dividends Paid to Member | Dividends Paid to Member | (30.0) | (30.0) | |||||||||||||||||||||||||||||||||||||
Net Income | Net Income | 179.2 | 179.2 | |||||||||||||||||||||||||||||||||||||
TOTAL MEMBER'S EQUITY – SEPTEMBER 30, 2023 | TOTAL MEMBER'S EQUITY – SEPTEMBER 30, 2023 | $ | 3,041.6 | $ | 3,253.3 | $ | 6,294.9 | |||||||||||||||||||||||||||||||||
June 30, | December 31, | September 30, | December 31, | |||||||||||||||||||||||||
2023 | 2022 | 2023 | 2022 | |||||||||||||||||||||||||
CURRENT ASSETS | CURRENT ASSETS | CURRENT ASSETS | ||||||||||||||||||||||||||
Advances to Affiliates | Advances to Affiliates | $ | 79.4 | $ | 4.4 | Advances to Affiliates | $ | 90.6 | $ | 4.4 | ||||||||||||||||||
Accounts Receivable: | Accounts Receivable: | Accounts Receivable: | ||||||||||||||||||||||||||
Customers | Customers | 91.1 | 46.9 | Customers | 80.4 | 46.9 | ||||||||||||||||||||||
Affiliated Companies | Affiliated Companies | 179.4 | 119.5 | Affiliated Companies | 123.1 | 119.5 | ||||||||||||||||||||||
Total Accounts Receivable | Total Accounts Receivable | 270.5 | 166.4 | Total Accounts Receivable | 203.5 | 166.4 | ||||||||||||||||||||||
Materials and Supplies | Materials and Supplies | 15.5 | 10.7 | Materials and Supplies | 0.3 | 10.7 | ||||||||||||||||||||||
Prepayments and Other Current Assets | Prepayments and Other Current Assets | 1.8 | 7.2 | Prepayments and Other Current Assets | 4.1 | 7.2 | ||||||||||||||||||||||
TOTAL CURRENT ASSETS | TOTAL CURRENT ASSETS | 367.2 | 188.7 | TOTAL CURRENT ASSETS | 298.5 | 188.7 | ||||||||||||||||||||||
TRANSMISSION PROPERTY | TRANSMISSION PROPERTY | TRANSMISSION PROPERTY | ||||||||||||||||||||||||||
Transmission Property | Transmission Property | 12,780.0 | 12,335.4 | Transmission Property | 13,140.5 | 12,335.4 | ||||||||||||||||||||||
Other Property, Plant and Equipment | Other Property, Plant and Equipment | 489.6 | 476.8 | Other Property, Plant and Equipment | 497.5 | 476.8 | ||||||||||||||||||||||
Construction Work in Progress | Construction Work in Progress | 1,918.9 | 1,554.7 | Construction Work in Progress | 1,902.1 | 1,554.7 | ||||||||||||||||||||||
Total Transmission Property | Total Transmission Property | 15,188.5 | 14,366.9 | Total Transmission Property | 15,540.1 | 14,366.9 | ||||||||||||||||||||||
Accumulated Depreciation and Amortization | Accumulated Depreciation and Amortization | 1,150.8 | 1,027.0 | Accumulated Depreciation and Amortization | 1,221.2 | 1,027.0 | ||||||||||||||||||||||
TOTAL TRANSMISSION PROPERTY – NET | TOTAL TRANSMISSION PROPERTY – NET | 14,037.7 | 13,339.9 | TOTAL TRANSMISSION PROPERTY – NET | 14,318.9 | 13,339.9 | ||||||||||||||||||||||
OTHER NONCURRENT ASSETS | OTHER NONCURRENT ASSETS | OTHER NONCURRENT ASSETS | ||||||||||||||||||||||||||
Regulatory Assets | Regulatory Assets | 5.8 | 7.2 | Regulatory Assets | 4.4 | 7.2 | ||||||||||||||||||||||
Deferred Property Taxes | Deferred Property Taxes | 155.9 | 266.6 | Deferred Property Taxes | 82.2 | 266.6 | ||||||||||||||||||||||
Deferred Charges and Other Noncurrent Assets | Deferred Charges and Other Noncurrent Assets | 9.9 | 11.8 | Deferred Charges and Other Noncurrent Assets | 8.0 | 11.8 | ||||||||||||||||||||||
TOTAL OTHER NONCURRENT ASSETS | TOTAL OTHER NONCURRENT ASSETS | 171.6 | 285.6 | TOTAL OTHER NONCURRENT ASSETS | 94.6 | 285.6 | ||||||||||||||||||||||
TOTAL ASSETS | TOTAL ASSETS | $ | 14,576.5 | $ | 13,814.2 | TOTAL ASSETS | $ | 14,712.0 | $ | 13,814.2 | ||||||||||||||||||
June 30, | December 31, | September 30, | December 31, | |||||||||||||||||||||||||
2023 | 2022 | 2023 | 2022 | |||||||||||||||||||||||||
(in millions) | (in millions) | |||||||||||||||||||||||||||
CURRENT LIABILITIES | CURRENT LIABILITIES | CURRENT LIABILITIES | ||||||||||||||||||||||||||
Advances from Affiliates | Advances from Affiliates | $ | 74.4 | $ | 229.3 | Advances from Affiliates | $ | 116.8 | $ | 229.3 | ||||||||||||||||||
Accounts Payable: | Accounts Payable: | Accounts Payable: | ||||||||||||||||||||||||||
General | General | 387.4 | 427.8 | General | 336.1 | 427.8 | ||||||||||||||||||||||
Affiliated Companies | Affiliated Companies | 104.9 | 82.7 | Affiliated Companies | 96.1 | 82.7 | ||||||||||||||||||||||
Long-term Debt Due Within One Year – Nonaffiliated | Long-term Debt Due Within One Year – Nonaffiliated | 60.0 | 60.0 | Long-term Debt Due Within One Year – Nonaffiliated | 60.0 | 60.0 | ||||||||||||||||||||||
Accrued Taxes | Accrued Taxes | 392.4 | 529.8 | Accrued Taxes | 323.5 | 529.8 | ||||||||||||||||||||||
Accrued Interest | Accrued Interest | 40.1 | 28.8 | Accrued Interest | 56.6 | 28.8 | ||||||||||||||||||||||
Obligations Under Operating Leases | Obligations Under Operating Leases | 1.4 | 1.3 | Obligations Under Operating Leases | 1.3 | 1.3 | ||||||||||||||||||||||
Other Current Liabilities | Other Current Liabilities | 12.3 | 8.3 | Other Current Liabilities | 12.8 | 8.3 | ||||||||||||||||||||||
TOTAL CURRENT LIABILITIES | TOTAL CURRENT LIABILITIES | 1,072.9 | 1,368.0 | TOTAL CURRENT LIABILITIES | 1,003.2 | 1,368.0 | ||||||||||||||||||||||
NONCURRENT LIABILITIES | NONCURRENT LIABILITIES | NONCURRENT LIABILITIES | ||||||||||||||||||||||||||
Long-term Debt – Nonaffiliated | Long-term Debt – Nonaffiliated | 5,413.0 | 4,722.8 | Long-term Debt – Nonaffiliated | 5,413.7 | 4,722.8 | ||||||||||||||||||||||
Deferred Income Taxes | Deferred Income Taxes | 1,107.3 | 1,056.5 | Deferred Income Taxes | 1,139.1 | 1,056.5 | ||||||||||||||||||||||
Regulatory Liabilities | Regulatory Liabilities | 768.9 | 723.3 | Regulatory Liabilities | 784.5 | 723.3 | ||||||||||||||||||||||
Obligations Under Operating Leases | Obligations Under Operating Leases | 1.8 | 1.5 | Obligations Under Operating Leases | 1.6 | 1.5 | ||||||||||||||||||||||
Deferred Credits and Other Noncurrent Liabilities | Deferred Credits and Other Noncurrent Liabilities | 69.8 | 69.1 | Deferred Credits and Other Noncurrent Liabilities | 75.0 | 69.1 | ||||||||||||||||||||||
TOTAL NONCURRENT LIABILITIES | TOTAL NONCURRENT LIABILITIES | 7,360.8 | 6,573.2 | TOTAL NONCURRENT LIABILITIES | 7,413.9 | 6,573.2 | ||||||||||||||||||||||
TOTAL LIABILITIES | TOTAL LIABILITIES | 8,433.7 | 7,941.2 | TOTAL LIABILITIES | 8,417.1 | 7,941.2 | ||||||||||||||||||||||
Rate Matters (Note 4) | Rate Matters (Note 4) | Rate Matters (Note 4) | ||||||||||||||||||||||||||
Commitments and Contingencies (Note 5) | Commitments and Contingencies (Note 5) | Commitments and Contingencies (Note 5) | ||||||||||||||||||||||||||
MEMBER’S EQUITY | MEMBER’S EQUITY | MEMBER’S EQUITY | ||||||||||||||||||||||||||
Paid-in Capital | Paid-in Capital | 3,038.7 | 3,022.3 | Paid-in Capital | 3,041.6 | 3,022.3 | ||||||||||||||||||||||
Retained Earnings | Retained Earnings | 3,104.1 | 2,850.7 | Retained Earnings | 3,253.3 | 2,850.7 | ||||||||||||||||||||||
TOTAL MEMBER’S EQUITY | TOTAL MEMBER’S EQUITY | 6,142.8 | 5,873.0 | TOTAL MEMBER’S EQUITY | 6,294.9 | 5,873.0 | ||||||||||||||||||||||
TOTAL LIABILITIES AND MEMBER’S EQUITY | TOTAL LIABILITIES AND MEMBER’S EQUITY | $ | 14,576.5 | $ | 13,814.2 | TOTAL LIABILITIES AND MEMBER’S EQUITY | $ | 14,712.0 | $ | 13,814.2 | ||||||||||||||||||
Six Months Ended June 30, | Nine Months Ended September 30, | |||||||||||||||||||||||||||
2023 | 2022 | 2023 | 2022 | |||||||||||||||||||||||||
OPERATING ACTIVITIES | OPERATING ACTIVITIES | OPERATING ACTIVITIES | ||||||||||||||||||||||||||
Net Income | Net Income | $ | 338.4 | $ | 273.9 | Net Income | $ | 517.6 | $ | 426.6 | ||||||||||||||||||
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 | 191.6 | 168.8 | Depreciation and Amortization | 291.2 | 256.2 | ||||||||||||||||||||||
Deferred Income Taxes | Deferred Income Taxes | 42.7 | 37.3 | Deferred Income Taxes | 64.2 | 60.6 | ||||||||||||||||||||||
Allowance for Equity Funds Used During Construction | Allowance for Equity Funds Used During Construction | (39.5) | (30.9) | Allowance for Equity Funds Used During Construction | (62.2) | (51.2) | ||||||||||||||||||||||
Property Taxes | Property Taxes | 110.7 | 101.4 | Property Taxes | 184.4 | 170.0 | ||||||||||||||||||||||
Change in Other Noncurrent Assets | Change in Other Noncurrent Assets | 3.4 | 1.8 | Change in Other Noncurrent Assets | 5.8 | 4.0 | ||||||||||||||||||||||
Change in Other Noncurrent Liabilities | Change in Other Noncurrent Liabilities | 1.7 | 44.3 | Change in Other Noncurrent Liabilities | 7.7 | 55.0 | ||||||||||||||||||||||
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 | (104.1) | (36.7) | Accounts Receivable, Net | (37.1) | (66.4) | ||||||||||||||||||||||
Materials and Supplies | Materials and Supplies | (4.8) | (2.2) | Materials and Supplies | 10.4 | (2.4) | ||||||||||||||||||||||
Accounts Payable | Accounts Payable | 64.6 | 13.1 | Accounts Payable | 25.0 | 53.1 | ||||||||||||||||||||||
Accrued Taxes, Net | Accrued Taxes, Net | (133.3) | (107.6) | Accrued Taxes, Net | (202.2) | (194.0) | ||||||||||||||||||||||
Other Current Assets | Other Current Assets | 1.3 | 0.9 | Other Current Assets | (1.0) | (1.2) | ||||||||||||||||||||||
Other Current Liabilities | Other Current Liabilities | 10.2 | (0.9) | Other Current Liabilities | 21.7 | 27.2 | ||||||||||||||||||||||
Net Cash Flows from Operating Activities | Net Cash Flows from Operating Activities | 482.9 | 463.2 | Net Cash Flows from Operating Activities | 825.5 | 737.5 | ||||||||||||||||||||||
INVESTING ACTIVITIES | INVESTING ACTIVITIES | INVESTING ACTIVITIES | ||||||||||||||||||||||||||
Construction Expenditures | Construction Expenditures | (876.1) | (730.9) | Construction Expenditures | (1,224.9) | (1,059.3) | ||||||||||||||||||||||
Change in Advances to Affiliates, Net | Change in Advances to Affiliates, Net | (75.0) | (109.8) | Change in Advances to Affiliates, Net | (86.2) | (84.1) | ||||||||||||||||||||||
Other Investing Activities | Other Investing Activities | 2.6 | (8.0) | Other Investing Activities | 4.8 | (5.3) | ||||||||||||||||||||||
Net Cash Flows Used for Investing Activities | Net Cash Flows Used for Investing Activities | (948.5) | (848.7) | Net Cash Flows Used for Investing Activities | (1,306.3) | (1,148.7) | ||||||||||||||||||||||
FINANCING ACTIVITIES | FINANCING ACTIVITIES | FINANCING ACTIVITIES | ||||||||||||||||||||||||||
Capital Contribution from Member | Capital Contribution from Member | 25.0 | 2.8 | Capital Contribution from Member | 27.9 | 64.2 | ||||||||||||||||||||||
Return of Capital to Member | Return of Capital to Member | (8.6) | — | Return of Capital to Member | (8.6) | — | ||||||||||||||||||||||
Issuance of Long-term Debt – Nonaffiliated | Issuance of Long-term Debt – Nonaffiliated | 689.1 | 540.9 | Issuance of Long-term Debt – Nonaffiliated | 689.0 | 540.9 | ||||||||||||||||||||||
Change in Advances from Affiliates, Net | Change in Advances from Affiliates, Net | (154.9) | (68.2) | Change in Advances from Affiliates, Net | (112.5) | (63.9) | ||||||||||||||||||||||
Dividends Paid to Member | Dividends Paid to Member | (85.0) | (90.0) | Dividends Paid to Member | (115.0) | (130.0) | ||||||||||||||||||||||
Net Cash Flows from Financing Activities | Net Cash Flows from Financing Activities | 465.6 | 385.5 | Net Cash Flows from Financing Activities | 480.8 | 411.2 | ||||||||||||||||||||||
Net Change in Cash and Cash Equivalents | Net Change in Cash and Cash Equivalents | — | — | Net Change in Cash and Cash Equivalents | — | — | ||||||||||||||||||||||
Cash and Cash Equivalents at Beginning of Period | Cash and Cash Equivalents at Beginning of Period | — | — | Cash and Cash Equivalents at Beginning of Period | — | — | ||||||||||||||||||||||
Cash and Cash Equivalents at End of Period | Cash and Cash Equivalents at End of Period | $ | — | $ | — | 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 | $ | 82.8 | $ | 74.0 | Cash Paid for Interest, Net of Capitalized Amounts | $ | 116.9 | $ | 88.6 | ||||||||||||||||||
Net Cash Paid for Income Taxes | Net Cash Paid for Income Taxes | 32.0 | 39.7 | Net Cash Paid for Income Taxes | 55.0 | 53.2 | ||||||||||||||||||||||
Construction Expenditures Included in Current Liabilities as of June 30, | 238.4 | 228.7 | ||||||||||||||||||||||||||
Construction Expenditures Included in Current Liabilities as of September 30, | Construction Expenditures Included in Current Liabilities as of September 30, | 219.2 | 240.5 | |||||||||||||||||||||||||
Three Months Ended | Six Months Ended | Three Months Ended | Nine Months Ended | |||||||||||||||||||||||||||||||||||||||||||
June 30, | June 30, | September 30, | September 30, | |||||||||||||||||||||||||||||||||||||||||||
2023 | 2022 | 2023 | 2022 | 2023 | 2022 | 2023 | 2022 | |||||||||||||||||||||||||||||||||||||||
(in millions of KWhs) | (in millions of KWhs) | |||||||||||||||||||||||||||||||||||||||||||||
Retail: | Retail: | Retail: | ||||||||||||||||||||||||||||||||||||||||||||
Residential | Residential | 1,987 | 2,223 | 5,046 | 5,755 | Residential | 2,481 | 2,553 | 7,527 | 8,308 | ||||||||||||||||||||||||||||||||||||
Commercial | Commercial | 1,346 | 1,460 | 2,749 | 2,979 | Commercial | 1,537 | 1,566 | 4,286 | 4,545 | ||||||||||||||||||||||||||||||||||||
Industrial | Industrial | 2,135 | 2,225 | 4,244 | 4,444 | Industrial | 2,229 | 2,211 | 6,473 | 6,655 | ||||||||||||||||||||||||||||||||||||
Miscellaneous | Miscellaneous | 190 | 205 | 390 | 418 | Miscellaneous | 205 | 206 | 595 | 624 | ||||||||||||||||||||||||||||||||||||
Total Retail | Total Retail | 5,658 | 6,113 | 12,429 | 13,596 | Total Retail | 6,452 | 6,536 | 18,881 | 20,132 | ||||||||||||||||||||||||||||||||||||
Wholesale | Wholesale | 514 | 262 | 1,003 | 625 | Wholesale | 691 | 644 | 1,694 | 1,269 | ||||||||||||||||||||||||||||||||||||
Total KWhs | Total KWhs | 6,172 | 6,375 | 13,432 | 14,221 | Total KWhs | 7,143 | 7,180 | 20,575 | 21,401 |
Three Months Ended | Six Months Ended | Three Months Ended | Nine Months Ended | |||||||||||||||||||||||||||||||||||||||||||
June 30, | June 30, | September 30, | September 30, | |||||||||||||||||||||||||||||||||||||||||||
2023 | 2022 | 2023 | 2022 | 2023 | 2022 | 2023 | 2022 | |||||||||||||||||||||||||||||||||||||||
(in degree days) | (in degree days) | |||||||||||||||||||||||||||||||||||||||||||||
Actual – Heating (a) | Actual – Heating (a) | 69 | 94 | 928 | 1,368 | Actual – Heating (a) | — | 4 | 928 | 1,372 | ||||||||||||||||||||||||||||||||||||
Normal – Heating (b) | Normal – Heating (b) | 87 | 89 | 1,408 | 1,408 | Normal – Heating (b) | 2 | 2 | 1,410 | 1,410 | ||||||||||||||||||||||||||||||||||||
Actual – Cooling (c) | Actual – Cooling (c) | 225 | 421 | 233 | 423 | Actual – Cooling (c) | 873 | 876 | 1,106 | 1,299 | ||||||||||||||||||||||||||||||||||||
Normal – Cooling (b) | Normal – Cooling (b) | 379 | 372 | 385 | 378 | Normal – Cooling (b) | 837 | 832 | 1,222 | 1,210 |
Appalachian Power Company and Subsidiaries | Appalachian Power Company and Subsidiaries | Appalachian Power Company and Subsidiaries | ||||||||||||||||||||||||||
Reconciliation of 2022 to 2023 Net Income | Reconciliation of 2022 to 2023 Net Income | Reconciliation of 2022 to 2023 Net Income | ||||||||||||||||||||||||||
(in millions) | (in millions) | (in millions) | ||||||||||||||||||||||||||
Three Months Ended June 30, | Six Months Ended June 30, | Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||||||||||||
2022 Net Income | 2022 Net Income | $ | 90.2 | $ | 210.4 | 2022 Net Income | $ | 92.7 | $ | 303.1 | ||||||||||||||||||
Changes in Gross Margin: | Changes in Gross Margin: | Changes in Gross Margin: | ||||||||||||||||||||||||||
Retail Margins | Retail Margins | 20.2 | 33.2 | Retail Margins | 46.5 | 79.7 | ||||||||||||||||||||||
Margins from Off-system Sales | Margins from Off-system Sales | 0.4 | 2.6 | Margins from Off-system Sales | (4.2) | (1.5) | ||||||||||||||||||||||
Transmission Revenues | Transmission Revenues | 2.4 | 2.6 | Transmission Revenues | 3.9 | 6.5 | ||||||||||||||||||||||
Other Revenues | Other Revenues | (2.3) | (6.5) | Other Revenues | 1.5 | (5.1) | ||||||||||||||||||||||
Total Change in Gross Margin | Total Change in Gross Margin | 20.7 | 31.9 | Total Change in Gross Margin | 47.7 | 79.6 | ||||||||||||||||||||||
Changes in Expenses and Other: | Changes in Expenses and Other: | Changes in Expenses and Other: | ||||||||||||||||||||||||||
Other Operation and Maintenance | Other Operation and Maintenance | (46.7) | (52.6) | Other Operation and Maintenance | (10.9) | (63.5) | ||||||||||||||||||||||
Asset Impairments and Other Related Charges - Coal Fired Generation | Asset Impairments and Other Related Charges - Coal Fired Generation | 24.9 | 24.9 | |||||||||||||||||||||||||
Establishment of 2017-2019 Virginia Triennial Review Regulatory Asset | Establishment of 2017-2019 Virginia Triennial Review Regulatory Asset | (37.0) | (37.0) | |||||||||||||||||||||||||
Depreciation and Amortization | Depreciation and Amortization | 4.8 | 7.0 | Depreciation and Amortization | (0.8) | 6.2 | ||||||||||||||||||||||
Taxes Other Than Income Taxes | Taxes Other Than Income Taxes | (1.9) | (3.5) | Taxes Other Than Income Taxes | (2.0) | (5.5) | ||||||||||||||||||||||
Interest Income | Interest Income | 0.5 | 1.0 | Interest Income | (1.8) | (0.8) | ||||||||||||||||||||||
Allowance for Equity Funds Used During Construction | Allowance for Equity Funds Used During Construction | 0.1 | 0.5 | Allowance for Equity Funds Used During Construction | 1.4 | 1.9 | ||||||||||||||||||||||
Non-Service Cost Components of Net Periodic Benefit Cost | Non-Service Cost Components of Net Periodic Benefit Cost | 1.0 | 1.8 | Non-Service Cost Components of Net Periodic Benefit Cost | 0.8 | 2.6 | ||||||||||||||||||||||
Interest Expense | Interest Expense | (11.8) | (22.8) | Interest Expense | (6.8) | (29.6) | ||||||||||||||||||||||
Total Change in Expenses and Other | Total Change in Expenses and Other | (54.0) | (68.6) | Total Change in Expenses and Other | (32.2) | (100.8) | ||||||||||||||||||||||
Income Tax Expense | Income Tax Expense | (14.0) | (18.3) | Income Tax Expense | (16.3) | (34.6) | ||||||||||||||||||||||
2023 Net Income | 2023 Net Income | $ | 42.9 | $ | 155.4 | 2023 Net Income | $ | 91.9 | $ | 247.3 |
Three Months Ended | Six Months Ended | Three Months Ended | Nine Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||
June 30, | June 30, | September 30, | September 30, | |||||||||||||||||||||||||||||||||||||||||||||||||
2023 | 2022 | 2023 | 2022 | 2023 | 2022 | 2023 | 2022 | |||||||||||||||||||||||||||||||||||||||||||||
REVENUES | REVENUES | REVENUES | ||||||||||||||||||||||||||||||||||||||||||||||||||
Electric Generation, Transmission and Distribution | Electric Generation, Transmission and Distribution | $ | 762.5 | $ | 704.9 | $ | 1,677.0 | $ | 1,552.0 | Electric Generation, Transmission and Distribution | $ | 896.0 | $ | 818.4 | $ | 2,573.0 | $ | 2,370.4 | ||||||||||||||||||||||||||||||||||
Sales to AEP Affiliates | Sales to AEP Affiliates | 61.1 | 63.1 | 130.7 | 120.0 | Sales to AEP Affiliates | 62.5 | 67.6 | 193.2 | 187.6 | ||||||||||||||||||||||||||||||||||||||||||
Other Revenues | Other Revenues | 2.9 | 5.6 | 6.5 | 8.9 | Other Revenues | 3.3 | 2.9 | 9.8 | 11.8 | ||||||||||||||||||||||||||||||||||||||||||
TOTAL REVENUES | TOTAL REVENUES | 826.5 | 773.6 | 1,814.2 | 1,680.9 | TOTAL REVENUES | 961.8 | 888.9 | 2,776.0 | 2,569.8 | ||||||||||||||||||||||||||||||||||||||||||
EXPENSES | EXPENSES | EXPENSES | ||||||||||||||||||||||||||||||||||||||||||||||||||
Purchased Electricity, Fuel and Other Consumables Used for Electric Generation | Purchased Electricity, Fuel and Other Consumables Used for Electric Generation | 277.9 | 245.7 | 617.6 | 516.2 | Purchased Electricity, Fuel and Other Consumables Used for Electric Generation | 343.2 | 318.0 | 960.8 | 834.2 | ||||||||||||||||||||||||||||||||||||||||||
Other Operation | Other Operation | 189.9 | 147.1 | 381.7 | 332.0 | Other Operation | 187.9 | 182.0 | 569.6 | 514.0 | ||||||||||||||||||||||||||||||||||||||||||
Maintenance | Maintenance | 75.1 | 71.2 | 148.2 | 145.3 | Maintenance | 74.3 | 69.3 | 222.5 | 214.6 | ||||||||||||||||||||||||||||||||||||||||||
Asset Impairments and Other Related Charges - Coal Fired Generation | Asset Impairments and Other Related Charges - Coal Fired Generation | — | 24.9 | — | 24.9 | |||||||||||||||||||||||||||||||||||||||||||||||
Establishment of 2017-2019 Virginia Triennial Review Regulatory Asset | Establishment of 2017-2019 Virginia Triennial Review Regulatory Asset | — | (37.0) | — | (37.0) | |||||||||||||||||||||||||||||||||||||||||||||||
Depreciation and Amortization | Depreciation and Amortization | 138.1 | 142.9 | 281.1 | 288.1 | Depreciation and Amortization | 143.7 | 142.9 | 424.8 | 431.0 | ||||||||||||||||||||||||||||||||||||||||||
Taxes Other Than Income Taxes | Taxes Other Than Income Taxes | 41.2 | 39.3 | 83.0 | 79.5 | Taxes Other Than Income Taxes | 43.5 | 41.5 | 126.5 | 121.0 | ||||||||||||||||||||||||||||||||||||||||||
TOTAL EXPENSES | TOTAL EXPENSES | 722.2 | 646.2 | 1,511.6 | 1,361.1 | TOTAL EXPENSES | 792.6 | 741.6 | 2,304.2 | 2,102.7 | ||||||||||||||||||||||||||||||||||||||||||
OPERATING INCOME | OPERATING INCOME | 104.3 | 127.4 | 302.6 | 319.8 | OPERATING INCOME | 169.2 | 147.3 | 471.8 | 467.1 | ||||||||||||||||||||||||||||||||||||||||||
Other Income (Expense): | Other Income (Expense): | Other Income (Expense): | ||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Income | Interest Income | 0.8 | 0.3 | 1.4 | 0.4 | Interest Income | 0.8 | 2.6 | 2.2 | 3.0 | ||||||||||||||||||||||||||||||||||||||||||
Allowance for Equity Funds Used During Construction | Allowance for Equity Funds Used During Construction | 2.7 | 2.6 | 5.1 | 4.6 | Allowance for Equity Funds Used During Construction | 3.6 | 2.2 | 8.7 | 6.8 | ||||||||||||||||||||||||||||||||||||||||||
Non-Service Cost Components of Net Periodic Benefit Cost | Non-Service Cost Components of Net Periodic Benefit Cost | 8.2 | 7.2 | 16.3 | 14.5 | Non-Service Cost Components of Net Periodic Benefit Cost | 8.1 | 7.3 | 24.4 | 21.8 | ||||||||||||||||||||||||||||||||||||||||||
Interest Expense | Interest Expense | (66.9) | (55.1) | (132.2) | (109.4) | Interest Expense | (68.5) | (61.7) | (200.7) | (171.1) | ||||||||||||||||||||||||||||||||||||||||||
INCOME BEFORE INCOME TAX EXPENSE (BENEFIT) | 49.1 | 82.4 | 193.2 | 229.9 | ||||||||||||||||||||||||||||||||||||||||||||||||
INCOME BEFORE INCOME TAX EXPENSE | INCOME BEFORE INCOME TAX EXPENSE | 113.2 | 97.7 | 306.4 | 327.6 | |||||||||||||||||||||||||||||||||||||||||||||||
Income Tax Expense (Benefit) | 6.2 | (7.8) | 37.8 | 19.5 | ||||||||||||||||||||||||||||||||||||||||||||||||
Income Tax Expense | Income Tax Expense | 21.3 | 5.0 | 59.1 | 24.5 | |||||||||||||||||||||||||||||||||||||||||||||||
NET INCOME | NET INCOME | $ | 42.9 | $ | 90.2 | $ | 155.4 | $ | 210.4 | NET INCOME | $ | 91.9 | $ | 92.7 | $ | 247.3 | $ | 303.1 | ||||||||||||||||||||||||||||||||||
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 June 30, | Six Months Ended June 30, | Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||||||||||||||||||||||||||||||||||||
2023 | 2022 | 2023 | 2022 | 2023 | 2022 | 2023 | 2022 | |||||||||||||||||||||||||||||||||||||||||||||
Net Income | Net Income | $ | 42.9 | $ | 90.2 | $ | 155.4 | $ | 210.4 | Net Income | $ | 91.9 | $ | 92.7 | $ | 247.3 | $ | 303.1 | ||||||||||||||||||||||||||||||||||
OTHER COMPREHENSIVE LOSS, NET OF TAXES | OTHER COMPREHENSIVE LOSS, NET OF TAXES | OTHER COMPREHENSIVE LOSS, NET OF TAXES | ||||||||||||||||||||||||||||||||||||||||||||||||||
Cash Flow Hedges, Net of Tax of $0 and $0 for the Three Months Ended June 30, 2023 and 2022, Respectively, and $(0.1) and $(0.1) for the Six Months Ended June 30, 2023 and 2022, Respectively | (0.2) | (0.2) | (0.4) | (0.4) | ||||||||||||||||||||||||||||||||||||||||||||||||
Amortization of Pension and OPEB Deferred Costs, Net of Tax of $(0.2) and $(0.3) for the Three Months Ended June 30, 2023 and 2022, Respectively, and $(0.4) and $(0.6) for the Six Months Ended June 30, 2023 and 2022, Respectively | (0.8) | (1.0) | (1.6) | (2.1) | ||||||||||||||||||||||||||||||||||||||||||||||||
Cash Flow Hedges, Net of Tax of $(0.1) and $(0.1) for the Three Months Ended September 30, 2023 and 2022, Respectively, and $(0.2) and $(0.2) for the Nine Months Ended September 30, 2023 and 2022, Respectively | Cash Flow Hedges, Net of Tax of $(0.1) and $(0.1) for the Three Months Ended September 30, 2023 and 2022, Respectively, and $(0.2) and $(0.2) for the Nine Months Ended September 30, 2023 and 2022, Respectively | (0.2) | (0.2) | (0.6) | (0.6) | |||||||||||||||||||||||||||||||||||||||||||||||
Amortization of Pension and OPEB Deferred Costs, Net of Tax of $(0.2) and $(0.3) for the Three Months Ended September 30, 2023 and 2022, Respectively, and $(0.6) and $(0.9) for the Nine Months Ended September 30, 2023 and 2022, Respectively | Amortization of Pension and OPEB Deferred Costs, Net of Tax of $(0.2) and $(0.3) for the Three Months Ended September 30, 2023 and 2022, Respectively, and $(0.6) and $(0.9) for the Nine Months Ended September 30, 2023 and 2022, Respectively | (0.7) | (1.1) | (2.3) | (3.2) | |||||||||||||||||||||||||||||||||||||||||||||||
TOTAL OTHER COMPREHENSIVE LOSS | TOTAL OTHER COMPREHENSIVE LOSS | (1.0) | (1.2) | (2.0) | (2.5) | TOTAL OTHER COMPREHENSIVE LOSS | (0.9) | (1.3) | (2.9) | (3.8) | ||||||||||||||||||||||||||||||||||||||||||
TOTAL COMPREHENSIVE INCOME | TOTAL COMPREHENSIVE INCOME | $ | 41.9 | $ | 89.0 | $ | 153.4 | $ | 207.9 | TOTAL COMPREHENSIVE INCOME | $ | 91.0 | $ | 91.4 | $ | 244.4 | $ | 299.3 | ||||||||||||||||||||||||||||||||||
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, 2021 | TOTAL COMMON SHAREHOLDER'S EQUITY - DECEMBER 31, 2021 | $ | 260.4 | $ | 1,828.7 | $ | 2,534.4 | $ | 24.4 | $ | 4,647.9 | TOTAL COMMON SHAREHOLDER'S EQUITY - DECEMBER 31, 2021 | $ | 260.4 | $ | 1,828.7 | $ | 2,534.4 | $ | 24.4 | $ | 4,647.9 | ||||||||||||||||||||||||||||||||||||||||||
Common Stock Dividends | Common Stock Dividends | (18.8) | (18.8) | Common Stock Dividends | (18.8) | (18.8) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net Income | Net Income | 120.2 | 120.2 | Net Income | 120.2 | 120.2 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Comprehensive Loss | Other Comprehensive Loss | (1.3) | (1.3) | Other Comprehensive Loss | (1.3) | (1.3) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
TOTAL COMMON SHAREHOLDER'S EQUITY - MARCH 31, 2022 | TOTAL COMMON SHAREHOLDER'S EQUITY - MARCH 31, 2022 | 260.4 | 1,828.7 | 2,635.8 | 23.1 | 4,748.0 | TOTAL COMMON SHAREHOLDER'S EQUITY - MARCH 31, 2022 | 260.4 | 1,828.7 | 2,635.8 | 23.1 | 4,748.0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Capital Contribution from Parent | Capital Contribution from Parent | 2.8 | 2.8 | Capital Contribution from Parent | 2.8 | 2.8 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common Stock Dividends | Common Stock Dividends | (18.7) | (18.7) | Common Stock Dividends | (18.7) | (18.7) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net Income | Net Income | 90.2 | 90.2 | Net Income | 90.2 | 90.2 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Comprehensive Loss | Other Comprehensive Loss | (1.2) | (1.2) | Other Comprehensive Loss | (1.2) | (1.2) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
TOTAL COMMON SHAREHOLDER'S EQUITY - JUNE 30, 2022 | TOTAL COMMON SHAREHOLDER'S EQUITY - JUNE 30, 2022 | $ | 260.4 | $ | 1,831.5 | $ | 2,707.3 | $ | 21.9 | $ | 4,821.1 | TOTAL COMMON SHAREHOLDER'S EQUITY - JUNE 30, 2022 | 260.4 | 1,831.5 | 2,707.3 | 21.9 | 4,821.1 | |||||||||||||||||||||||||||||||||||||||||||||||
Capital Contribution from Parent | Capital Contribution from Parent | 1.5 | 1.5 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net Income | Net Income | 92.7 | 92.7 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Comprehensive Loss | Other Comprehensive Loss | (1.3) | (1.3) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
TOTAL COMMON SHAREHOLDER'S EQUITY - SEPTEMBER 30, 2022 | TOTAL COMMON SHAREHOLDER'S EQUITY - SEPTEMBER 30, 2022 | $ | 260.4 | $ | 1,833.0 | $ | 2,800.0 | $ | 20.6 | $ | 4,914.0 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
TOTAL COMMON SHAREHOLDER'S EQUITY - DECEMBER 31, 2022 | TOTAL COMMON SHAREHOLDER'S EQUITY - DECEMBER 31, 2022 | $ | 260.4 | $ | 1,828.7 | $ | 2,891.1 | $ | (4.8) | $ | 4,975.4 | TOTAL COMMON SHAREHOLDER'S EQUITY - DECEMBER 31, 2022 | $ | 260.4 | $ | 1,828.7 | $ | 2,891.1 | $ | (4.8) | $ | 4,975.4 | ||||||||||||||||||||||||||||||||||||||||||
Net Income | Net Income | 112.5 | 112.5 | Net Income | 112.5 | 112.5 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Comprehensive Loss | Other Comprehensive Loss | (1.0) | (1.0) | Other Comprehensive Loss | (1.0) | (1.0) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
TOTAL COMMON SHAREHOLDER'S EQUITY - MARCH 31, 2023 | TOTAL COMMON SHAREHOLDER'S EQUITY - MARCH 31, 2023 | 260.4 | 1,828.7 | 3,003.6 | (5.8) | 5,086.9 | TOTAL COMMON SHAREHOLDER'S EQUITY - MARCH 31, 2023 | 260.4 | 1,828.7 | 3,003.6 | (5.8) | 5,086.9 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Capital Contribution from Parent | Capital Contribution from Parent | 4.3 | 4.3 | Capital Contribution from Parent | 4.3 | 4.3 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net Income | Net Income | 42.9 | 42.9 | Net Income | 42.9 | 42.9 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Comprehensive Loss | Other Comprehensive Loss | (1.0) | (1.0) | Other Comprehensive Loss | (1.0) | (1.0) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
TOTAL COMMON SHAREHOLDER'S EQUITY - JUNE 30, 2023 | TOTAL COMMON SHAREHOLDER'S EQUITY - JUNE 30, 2023 | $ | 260.4 | $ | 1,833.0 | $ | 3,046.5 | $ | (6.8) | $ | 5,133.1 | TOTAL COMMON SHAREHOLDER'S EQUITY - JUNE 30, 2023 | 260.4 | 1,833.0 | 3,046.5 | (6.8) | 5,133.1 | |||||||||||||||||||||||||||||||||||||||||||||||
Capital Contribution from Parent | Capital Contribution from Parent | 2.2 | 2.2 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net Income | Net Income | 91.9 | 91.9 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Comprehensive Loss | Other Comprehensive Loss | (0.9) | (0.9) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
TOTAL COMMON SHAREHOLDER'S EQUITY - SEPTEMBER 30, 2023 | TOTAL COMMON SHAREHOLDER'S EQUITY - SEPTEMBER 30, 2023 | $ | 260.4 | $ | 1,835.2 | $ | 3,138.4 | $ | (7.7) | $ | 5,226.3 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
June 30, | December 31, | September 30, | December 31, | |||||||||||||||||||||||||
2023 | 2022 | 2023 | 2022 | |||||||||||||||||||||||||
CURRENT ASSETS | CURRENT ASSETS | CURRENT ASSETS | ||||||||||||||||||||||||||
Cash and Cash Equivalents | Cash and Cash Equivalents | $ | 6.8 | $ | 7.5 | Cash and Cash Equivalents | $ | 4.5 | $ | 7.5 | ||||||||||||||||||
Restricted Cash for Securitized Funding | Restricted Cash for Securitized Funding | 15.1 | 14.4 | Restricted Cash for Securitized Funding | 6.9 | 14.4 | ||||||||||||||||||||||
Advances to Affiliates | Advances to Affiliates | 18.9 | 19.8 | Advances to Affiliates | 19.3 | 19.8 | ||||||||||||||||||||||
Accounts Receivable: | Accounts Receivable: | Accounts Receivable: | ||||||||||||||||||||||||||
Customers | Customers | 138.1 | 168.9 | Customers | 142.9 | 168.9 | ||||||||||||||||||||||
Affiliated Companies | Affiliated Companies | 121.5 | 94.0 | Affiliated Companies | 91.7 | 94.0 | ||||||||||||||||||||||
Accrued Unbilled Revenues | Accrued Unbilled Revenues | 35.6 | 91.3 | Accrued Unbilled Revenues | 41.9 | 91.3 | ||||||||||||||||||||||
Miscellaneous | Miscellaneous | 0.5 | 0.3 | Miscellaneous | 0.2 | 0.3 | ||||||||||||||||||||||
Allowance for Uncollectible Accounts | Allowance for Uncollectible Accounts | (1.6) | (1.7) | Allowance for Uncollectible Accounts | (1.7) | (1.7) | ||||||||||||||||||||||
Total Accounts Receivable | Total Accounts Receivable | 294.1 | 352.8 | Total Accounts Receivable | 275.0 | 352.8 | ||||||||||||||||||||||
Fuel | Fuel | 267.1 | 158.9 | Fuel | 266.5 | 158.9 | ||||||||||||||||||||||
Materials and Supplies | Materials and Supplies | 136.5 | 130.6 | Materials and Supplies | 137.5 | 130.6 | ||||||||||||||||||||||
Risk Management Assets | Risk Management Assets | 39.2 | 69.1 | Risk Management Assets | 46.4 | 69.1 | ||||||||||||||||||||||
Regulatory Asset for Under-Recovered Fuel Costs | Regulatory Asset for Under-Recovered Fuel Costs | 586.0 | 473.1 | Regulatory Asset for Under-Recovered Fuel Costs | 442.0 | 473.1 | ||||||||||||||||||||||
Prepayments and Other Current Assets | Prepayments and Other Current Assets | 28.9 | 33.4 | Prepayments and Other Current Assets | 33.7 | 33.4 | ||||||||||||||||||||||
TOTAL CURRENT ASSETS | TOTAL CURRENT ASSETS | 1,392.6 | 1,259.6 | TOTAL CURRENT ASSETS | 1,231.8 | 1,259.6 | ||||||||||||||||||||||
PROPERTY, PLANT AND EQUIPMENT | PROPERTY, PLANT AND EQUIPMENT | PROPERTY, PLANT AND EQUIPMENT | ||||||||||||||||||||||||||
Electric: | Electric: | Electric: | ||||||||||||||||||||||||||
Generation | Generation | 6,903.0 | 6,776.8 | Generation | 6,919.7 | 6,776.8 | ||||||||||||||||||||||
Transmission | Transmission | 4,536.9 | 4,482.8 | Transmission | 4,588.4 | 4,482.8 | ||||||||||||||||||||||
Distribution | Distribution | 5,067.5 | 4,933.0 | Distribution | 5,126.8 | 4,933.0 | ||||||||||||||||||||||
Other Property, Plant and Equipment | Other Property, Plant and Equipment | 922.7 | 883.3 | Other Property, Plant and Equipment | 933.7 | 883.3 | ||||||||||||||||||||||
Construction Work in Progress | Construction Work in Progress | 790.9 | 705.3 | Construction Work in Progress | 877.9 | 705.3 | ||||||||||||||||||||||
Total Property, Plant and Equipment | Total Property, Plant and Equipment | 18,221.0 | 17,781.2 | Total Property, Plant and Equipment | 18,446.5 | 17,781.2 | ||||||||||||||||||||||
Accumulated Depreciation and Amortization | Accumulated Depreciation and Amortization | 5,547.0 | 5,402.0 | Accumulated Depreciation and Amortization | 5,621.4 | 5,402.0 | ||||||||||||||||||||||
TOTAL PROPERTY, PLANT AND EQUIPMENT – NET | TOTAL PROPERTY, PLANT AND EQUIPMENT – NET | 12,674.0 | 12,379.2 | TOTAL PROPERTY, PLANT AND EQUIPMENT – NET | 12,825.1 | 12,379.2 | ||||||||||||||||||||||
OTHER NONCURRENT ASSETS | OTHER NONCURRENT ASSETS | OTHER NONCURRENT ASSETS | ||||||||||||||||||||||||||
Regulatory Assets | Regulatory Assets | 891.7 | 1,058.6 | Regulatory Assets | 978.8 | 1,058.6 | ||||||||||||||||||||||
Securitized Assets | Securitized Assets | 146.5 | 159.6 | Securitized Assets | 140.0 | 159.6 | ||||||||||||||||||||||
Employee Benefits and Pension Assets | Employee Benefits and Pension Assets | 161.9 | 152.9 | Employee Benefits and Pension Assets | 166.5 | 152.9 | ||||||||||||||||||||||
Operating Lease Assets | Operating Lease Assets | 67.9 | 73.6 | Operating Lease Assets | 64.9 | 73.6 | ||||||||||||||||||||||
Deferred Charges and Other Noncurrent Assets | Deferred Charges and Other Noncurrent Assets | 123.4 | 138.7 | Deferred Charges and Other Noncurrent Assets | 102.6 | 138.7 | ||||||||||||||||||||||
TOTAL OTHER NONCURRENT ASSETS | TOTAL OTHER NONCURRENT ASSETS | 1,391.4 | 1,583.4 | TOTAL OTHER NONCURRENT ASSETS | 1,452.8 | 1,583.4 | ||||||||||||||||||||||
TOTAL ASSETS | TOTAL ASSETS | $ | 15,458.0 | $ | 15,222.2 | TOTAL ASSETS | $ | 15,509.7 | $ | 15,222.2 | ||||||||||||||||||
June 30, | December 31, | September 30, | December 31, | |||||||||||||||||||||||||
2023 | 2022 | 2023 | 2022 | |||||||||||||||||||||||||
(in millions) | (in millions) | |||||||||||||||||||||||||||
CURRENT LIABILITIES | CURRENT LIABILITIES | CURRENT LIABILITIES | ||||||||||||||||||||||||||
Advances from Affiliates | Advances from Affiliates | $ | 266.1 | $ | 182.2 | Advances from Affiliates | $ | 202.5 | $ | 182.2 | ||||||||||||||||||
Accounts Payable: | Accounts Payable: | Accounts Payable: | ||||||||||||||||||||||||||
General | General | 324.3 | 451.2 | General | 321.8 | 451.2 | ||||||||||||||||||||||
Affiliated Companies | Affiliated Companies | 114.2 | 142.7 | Affiliated Companies | 116.6 | 142.7 | ||||||||||||||||||||||
Long-term Debt Due Within One Year – Nonaffiliated | Long-term Debt Due Within One Year – Nonaffiliated | 538.3 | 251.8 | Long-term Debt Due Within One Year – Nonaffiliated | 538.8 | 251.8 | ||||||||||||||||||||||
Risk Management Liabilities | Risk Management Liabilities | 1.1 | 3.6 | Risk Management Liabilities | 1.8 | 3.6 | ||||||||||||||||||||||
Customer Deposits | Customer Deposits | 75.3 | 75.1 | Customer Deposits | 77.6 | 75.1 | ||||||||||||||||||||||
Accrued Taxes | Accrued Taxes | 101.8 | 101.0 | Accrued Taxes | 82.4 | 101.0 | ||||||||||||||||||||||
Accrued Interest | Accrued Interest | 60.0 | 57.9 | Accrued Interest | 85.5 | 57.9 | ||||||||||||||||||||||
Obligations Under Operating Leases | Obligations Under Operating Leases | 14.3 | 15.0 | Obligations Under Operating Leases | 14.0 | 15.0 | ||||||||||||||||||||||
Other Current Liabilities | Other Current Liabilities | 108.6 | 109.7 | Other Current Liabilities | 103.3 | 109.7 | ||||||||||||||||||||||
TOTAL CURRENT LIABILITIES | TOTAL CURRENT LIABILITIES | 1,604.0 | 1,390.2 | TOTAL CURRENT LIABILITIES | 1,544.3 | 1,390.2 | ||||||||||||||||||||||
NONCURRENT LIABILITIES | NONCURRENT LIABILITIES | NONCURRENT LIABILITIES | ||||||||||||||||||||||||||
Long-term Debt – Nonaffiliated | Long-term Debt – Nonaffiliated | 5,061.4 | 5,158.7 | Long-term Debt – Nonaffiliated | 5,048.5 | 5,158.7 | ||||||||||||||||||||||
Deferred Income Taxes | Deferred Income Taxes | 2,007.9 | 1,992.2 | Deferred Income Taxes | 2,029.6 | 1,992.2 | ||||||||||||||||||||||
Regulatory Liabilities and Deferred Investment Tax Credits | Regulatory Liabilities and Deferred Investment Tax Credits | 1,094.5 | 1,143.6 | Regulatory Liabilities and Deferred Investment Tax Credits | 1,100.5 | 1,143.6 | ||||||||||||||||||||||
Asset Retirement Obligations | Asset Retirement Obligations | 419.7 | 419.2 | Asset Retirement Obligations | 423.3 | 419.2 | ||||||||||||||||||||||
Employee Benefits and Pension Obligations | Employee Benefits and Pension Obligations | 33.7 | 34.2 | Employee Benefits and Pension Obligations | 34.1 | 34.2 | ||||||||||||||||||||||
Obligations Under Operating Leases | Obligations Under Operating Leases | 54.0 | 59.1 | Obligations Under Operating Leases | 51.4 | 59.1 | ||||||||||||||||||||||
Deferred Credits and Other Noncurrent Liabilities | Deferred Credits and Other Noncurrent Liabilities | 49.7 | 49.6 | Deferred Credits and Other Noncurrent Liabilities | 51.7 | 49.6 | ||||||||||||||||||||||
TOTAL NONCURRENT LIABILITIES | TOTAL NONCURRENT LIABILITIES | 8,720.9 | 8,856.6 | TOTAL NONCURRENT LIABILITIES | 8,739.1 | 8,856.6 | ||||||||||||||||||||||
TOTAL LIABILITIES | TOTAL LIABILITIES | 10,324.9 | 10,246.8 | TOTAL LIABILITIES | 10,283.4 | 10,246.8 | ||||||||||||||||||||||
Rate Matters (Note 4) | Rate Matters (Note 4) | Rate Matters (Note 4) | ||||||||||||||||||||||||||
Commitments and Contingencies (Note 5) | Commitments and Contingencies (Note 5) | Commitments and Contingencies (Note 5) | ||||||||||||||||||||||||||
COMMON SHAREHOLDER’S EQUITY | COMMON SHAREHOLDER’S EQUITY | COMMON SHAREHOLDER’S EQUITY | ||||||||||||||||||||||||||
Common Stock – No 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 | 1,833.0 | 1,828.7 | Paid-in Capital | 1,835.2 | 1,828.7 | ||||||||||||||||||||||
Retained Earnings | Retained Earnings | 3,046.5 | 2,891.1 | Retained Earnings | 3,138.4 | 2,891.1 | ||||||||||||||||||||||
Accumulated Other Comprehensive Income (Loss) | Accumulated Other Comprehensive Income (Loss) | (6.8) | (4.8) | Accumulated Other Comprehensive Income (Loss) | (7.7) | (4.8) | ||||||||||||||||||||||
TOTAL COMMON SHAREHOLDER’S EQUITY | TOTAL COMMON SHAREHOLDER’S EQUITY | 5,133.1 | 4,975.4 | TOTAL COMMON SHAREHOLDER’S EQUITY | 5,226.3 | 4,975.4 | ||||||||||||||||||||||
TOTAL LIABILITIES AND COMMON SHAREHOLDER’S EQUITY | TOTAL LIABILITIES AND COMMON SHAREHOLDER’S EQUITY | $ | 15,458.0 | $ | 15,222.2 | TOTAL LIABILITIES AND COMMON SHAREHOLDER’S EQUITY | $ | 15,509.7 | $ | 15,222.2 | ||||||||||||||||||
Six Months Ended June 30, | Nine Months Ended September 30, | |||||||||||||||||||||||||||
2023 | 2022 | 2023 | 2022 | |||||||||||||||||||||||||
OPERATING ACTIVITIES | OPERATING ACTIVITIES | OPERATING ACTIVITIES | ||||||||||||||||||||||||||
Net Income | Net Income | $ | 155.4 | $ | 210.4 | Net Income | $ | 247.3 | $ | 303.1 | ||||||||||||||||||
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 | 281.1 | 288.1 | Depreciation and Amortization | 424.8 | 431.0 | ||||||||||||||||||||||
Deferred Income Taxes | Deferred Income Taxes | (2.8) | 17.1 | Deferred Income Taxes | 5.2 | 70.7 | ||||||||||||||||||||||
Asset Impairments and Other Related Charges - Coal Fired Generation | Asset Impairments and Other Related Charges - Coal Fired Generation | — | 24.9 | |||||||||||||||||||||||||
Allowance for Equity Funds Used During Construction | Allowance for Equity Funds Used During Construction | (5.1) | (4.6) | Allowance for Equity Funds Used During Construction | (8.7) | (6.8) | ||||||||||||||||||||||
Mark-to-Market of Risk Management Contracts | Mark-to-Market of Risk Management Contracts | 27.4 | (38.5) | Mark-to-Market of Risk Management Contracts | 21.7 | (65.6) | ||||||||||||||||||||||
Deferred Fuel Over/Under-Recovery, Net | Deferred Fuel Over/Under-Recovery, Net | 54.2 | (312.1) | Deferred Fuel Over/Under-Recovery, Net | 108.2 | (400.2) | ||||||||||||||||||||||
Establishment of 2017-2019 Virginia Triennial Review Regulatory Asset | Establishment of 2017-2019 Virginia Triennial Review Regulatory Asset | — | (37.0) | |||||||||||||||||||||||||
Change in Other Noncurrent Assets | Change in Other Noncurrent Assets | 7.7 | (42.3) | Change in Other Noncurrent Assets | 24.4 | (15.2) | ||||||||||||||||||||||
Change in Other Noncurrent Liabilities | Change in Other Noncurrent Liabilities | (39.3) | (0.2) | Change in Other Noncurrent Liabilities | (29.9) | 39.7 | ||||||||||||||||||||||
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 | 60.4 | 65.4 | Accounts Receivable, Net | 80.2 | 68.7 | ||||||||||||||||||||||
Fuel, Materials and Supplies | Fuel, Materials and Supplies | (113.4) | (75.4) | Fuel, Materials and Supplies | (114.0) | (61.7) | ||||||||||||||||||||||
Margin Deposits | Margin Deposits | (11.7) | 64.5 | Margin Deposits | (3.0) | 65.8 | ||||||||||||||||||||||
Accounts Payable | Accounts Payable | (128.7) | 162.8 | Accounts Payable | (129.5) | 141.4 | ||||||||||||||||||||||
Accrued Taxes, Net | Accrued Taxes, Net | 13.4 | (5.7) | Accrued Taxes, Net | (12.4) | (98.9) | ||||||||||||||||||||||
Other Current Assets | Other Current Assets | 5.1 | 0.7 | Other Current Assets | (3.5) | (4.2) | ||||||||||||||||||||||
Other Current Liabilities | Other Current Liabilities | (20.8) | (0.7) | Other Current Liabilities | (0.6) | 42.2 | ||||||||||||||||||||||
Net Cash Flows from Operating Activities | Net Cash Flows from Operating Activities | 282.9 | 329.5 | Net Cash Flows from Operating Activities | 610.2 | 497.9 | ||||||||||||||||||||||
INVESTING ACTIVITIES | INVESTING ACTIVITIES | INVESTING ACTIVITIES | ||||||||||||||||||||||||||
Construction Expenditures | Construction Expenditures | (558.2) | (450.8) | Construction Expenditures | (813.4) | (707.4) | ||||||||||||||||||||||
Change in Advances to Affiliates, Net | Change in Advances to Affiliates, Net | 0.9 | 1.4 | Change in Advances to Affiliates, Net | 0.5 | (161.3) | ||||||||||||||||||||||
Other Investing Activities | Other Investing Activities | 2.7 | 23.3 | Other Investing Activities | (2.9) | 34.9 | ||||||||||||||||||||||
Net Cash Flows Used for Investing Activities | Net Cash Flows Used for Investing Activities | (554.6) | (426.1) | Net Cash Flows Used for Investing Activities | (815.8) | (833.8) | ||||||||||||||||||||||
FINANCING ACTIVITIES | FINANCING ACTIVITIES | FINANCING ACTIVITIES | ||||||||||||||||||||||||||
Capital Contribution from Parent | Capital Contribution from Parent | 4.3 | 2.8 | Capital Contribution from Parent | 6.5 | 4.3 | ||||||||||||||||||||||
Issuance of Long-term Debt – Nonaffiliated | Issuance of Long-term Debt – Nonaffiliated | 200.0 | 103.3 | Issuance of Long-term Debt – Nonaffiliated | 200.0 | 698.2 | ||||||||||||||||||||||
Change in Advances from Affiliates, Net | Change in Advances from Affiliates, Net | 83.9 | 149.9 | Change in Advances from Affiliates, Net | 20.3 | (199.3) | ||||||||||||||||||||||
Retirement of Long-term Debt – Nonaffiliated | Retirement of Long-term Debt – Nonaffiliated | (13.0) | (117.1) | Retirement of Long-term Debt – Nonaffiliated | (26.5) | (130.4) | ||||||||||||||||||||||
Principal Payments for Finance Lease Obligations | Principal Payments for Finance Lease Obligations | (4.1) | (4.0) | Principal Payments for Finance Lease Obligations | (6.2) | (5.9) | ||||||||||||||||||||||
Dividends Paid on Common Stock | Dividends Paid on Common Stock | — | (37.5) | Dividends Paid on Common Stock | — | (37.5) | ||||||||||||||||||||||
Other Financing Activities | Other Financing Activities | 0.6 | 0.2 | Other Financing Activities | 1.0 | 0.5 | ||||||||||||||||||||||
Net Cash Flows from Financing Activities | Net Cash Flows from Financing Activities | 271.7 | 97.6 | Net Cash Flows from Financing Activities | 195.1 | 329.9 | ||||||||||||||||||||||
Net Increase in Cash, Cash Equivalents and Restricted Cash for Securitized Funding | — | 1.0 | ||||||||||||||||||||||||||
Net Decrease in Cash, Cash Equivalents and Restricted Cash for Securitized Funding | Net Decrease in Cash, Cash Equivalents and Restricted Cash for Securitized Funding | (10.5) | (6.0) | |||||||||||||||||||||||||
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 | 21.9 | 20.1 | Cash, Cash Equivalents and Restricted Cash for Securitized Funding at Beginning of Period | 21.9 | 20.1 | ||||||||||||||||||||||
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 | $ | 21.9 | $ | 21.1 | Cash, Cash Equivalents and Restricted Cash for Securitized Funding at End of Period | $ | 11.4 | $ | 14.1 | ||||||||||||||||||
SUPPLEMENTARY INFORMATION | SUPPLEMENTARY INFORMATION | SUPPLEMENTARY INFORMATION | ||||||||||||||||||||||||||
Cash Paid for Interest, Net of Capitalized Amounts | Cash Paid for Interest, Net of Capitalized Amounts | $ | 125.9 | $ | 104.9 | Cash Paid for Interest, Net of Capitalized Amounts | $ | 166.6 | $ | 128.3 | ||||||||||||||||||
Net Cash Paid for Income Taxes | Net Cash Paid for Income Taxes | 23.4 | 1.0 | Net Cash Paid for Income Taxes | 40.3 | 14.2 | ||||||||||||||||||||||
Noncash Acquisitions Under Finance Leases | Noncash Acquisitions Under Finance Leases | 1.7 | 0.5 | Noncash Acquisitions Under Finance Leases | 4.1 | 1.0 | ||||||||||||||||||||||
Construction Expenditures Included in Current Liabilities as of June 30, | 139.6 | 121.2 | ||||||||||||||||||||||||||
Construction Expenditures Included in Current Liabilities as of September 30, | Construction Expenditures Included in Current Liabilities as of September 30, | 138.7 | 160.4 | |||||||||||||||||||||||||
Three Months Ended | Six Months Ended | Three Months Ended | Nine Months Ended | |||||||||||||||||||||||||||||||||||||||||||
June 30, | June 30, | September 30, | September 30, | |||||||||||||||||||||||||||||||||||||||||||
2023 | 2022 | 2023 | 2022 | 2023 | 2022 | 2023 | 2022 | |||||||||||||||||||||||||||||||||||||||
(in millions of KWhs) | (in millions of KWhs) | |||||||||||||||||||||||||||||||||||||||||||||
Retail: | Retail: | Retail: | ||||||||||||||||||||||||||||||||||||||||||||
Residential | Residential | 1,114 | 1,249 | 2,577 | 2,788 | Residential | 1,421 | 1,532 | 3,998 | 4,320 | ||||||||||||||||||||||||||||||||||||
Commercial | Commercial | 1,207 | 1,165 | 2,396 | 2,284 | Commercial | 1,360 | 1,326 | 3,756 | 3,610 | ||||||||||||||||||||||||||||||||||||
Industrial | Industrial | 1,821 | 1,922 | 3,625 | 3,712 | Industrial | 1,876 | 1,926 | 5,501 | 5,638 | ||||||||||||||||||||||||||||||||||||
Miscellaneous | Miscellaneous | 11 | 11 | 27 | 27 | Miscellaneous | 12 | 12 | 39 | 39 | ||||||||||||||||||||||||||||||||||||
Total Retail | Total Retail | 4,153 | 4,347 | 8,625 | 8,811 | Total Retail | 4,669 | 4,796 | 13,294 | 13,607 | ||||||||||||||||||||||||||||||||||||
Wholesale | Wholesale | 1,547 | 1,228 | 2,964 | 3,185 | Wholesale | 1,246 | 1,707 | 4,210 | 4,892 | ||||||||||||||||||||||||||||||||||||
Total KWhs | Total KWhs | 5,700 | 5,575 | 11,589 | 11,996 | Total KWhs | 5,915 | 6,503 | 17,504 | 18,499 |
Three Months Ended | Six Months Ended | Three Months Ended | Nine Months Ended | |||||||||||||||||||||||||||||||||||||||||||
June 30, | June 30, | September 30, | September 30, | |||||||||||||||||||||||||||||||||||||||||||
2023 | 2022 | 2023 | 2022 | 2023 | 2022 | 2023 | 2022 | |||||||||||||||||||||||||||||||||||||||
(in degree days) | (in degree days) | |||||||||||||||||||||||||||||||||||||||||||||
Actual – Heating (a) | Actual – Heating (a) | 227 | 268 | 1,914 | 2,508 | Actual – Heating (a) | — | 17 | 1,914 | 2,525 | ||||||||||||||||||||||||||||||||||||
Normal – Heating (b) | Normal – Heating (b) | 241 | 242 | 2,423 | 2,413 | Normal – Heating (b) | 7 | 8 | 2,430 | 2,421 | ||||||||||||||||||||||||||||||||||||
Actual – Cooling (c) | Actual – Cooling (c) | 206 | 344 | 206 | 344 | Actual – Cooling (c) | 516 | 590 | 722 | 934 | ||||||||||||||||||||||||||||||||||||
Normal – Cooling (b) | Normal – Cooling (b) | 268 | 261 | 269 | 262 | Normal – Cooling (b) | 588 | 580 | 857 | 842 |
Indiana Michigan Power Company and Subsidiaries | Indiana Michigan Power Company and Subsidiaries | Indiana Michigan Power Company and Subsidiaries | ||||||||||||||||||||||||||
Reconciliation of 2022 to 2023 Net Income | Reconciliation of 2022 to 2023 Net Income | Reconciliation of 2022 to 2023 Net Income | ||||||||||||||||||||||||||
(in millions) | (in millions) | (in millions) | ||||||||||||||||||||||||||
Three Months Ended June 30, | Six Months Ended June 30, | Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||||||||||||
2022 Net Income | 2022 Net Income | $ | 67.2 | $ | 156.7 | 2022 Net Income | $ | 94.1 | $ | 250.8 | ||||||||||||||||||
Changes in Gross Margin: | Changes in Gross Margin: | Changes in Gross Margin: | ||||||||||||||||||||||||||
Retail Margins | Retail Margins | 9.9 | 50.2 | Retail Margins | 5.4 | 55.6 | ||||||||||||||||||||||
Margins from Off-system Sales | Margins from Off-system Sales | 8.9 | 23.6 | Margins from Off-system Sales | (14.7) | 8.9 | ||||||||||||||||||||||
Transmission Revenues | Transmission Revenues | (8.9) | (12.6) | Transmission Revenues | (1.3) | (13.9) | ||||||||||||||||||||||
Other Revenues | Other Revenues | (2.2) | 2.8 | Other Revenues | 3.7 | 6.5 | ||||||||||||||||||||||
Total Change in Gross Margin | Total Change in Gross Margin | 7.7 | 64.0 | Total Change in Gross Margin | (6.9) | 57.1 | ||||||||||||||||||||||
Changes in Expenses and Other: | Changes in Expenses and Other: | Changes in Expenses and Other: | ||||||||||||||||||||||||||
Other Operation and Maintenance | Other Operation and Maintenance | (17.2) | (55.2) | Other Operation and Maintenance | (7.9) | (63.1) | ||||||||||||||||||||||
Depreciation and Amortization | Depreciation and Amortization | 22.7 | 32.4 | Depreciation and Amortization | 14.9 | 47.3 | ||||||||||||||||||||||
Taxes Other Than Income Taxes | Taxes Other Than Income Taxes | 8.0 | 13.7 | Taxes Other Than Income Taxes | 0.1 | 13.8 | ||||||||||||||||||||||
Other Income | Other Income | 0.6 | (1.4) | Other Income | 2.1 | 0.7 | ||||||||||||||||||||||
Non-Service Cost Components of Net Periodic Benefit Cost | Non-Service Cost Components of Net Periodic Benefit Cost | 1.5 | 3.2 | Non-Service Cost Components of Net Periodic Benefit Cost | 1.4 | 4.6 | ||||||||||||||||||||||
Interest Expense | Interest Expense | (4.8) | (7.7) | Interest Expense | (1.8) | (9.5) | ||||||||||||||||||||||
Total Change in Expenses and Other | Total Change in Expenses and Other | 10.8 | (15.0) | Total Change in Expenses and Other | 8.8 | (6.2) | ||||||||||||||||||||||
Income Tax Expense | Income Tax Expense | (10.9) | (28.1) | Income Tax Expense | (3.0) | (31.1) | ||||||||||||||||||||||
2023 Net Income | 2023 Net Income | $ | 74.8 | $ | 177.6 | 2023 Net Income | $ | 93.0 | $ | 270.6 |
Three Months Ended | Six Months Ended | Three Months Ended | Nine Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||
June 30, | June 30, | September 30, | September 30, | |||||||||||||||||||||||||||||||||||||||||||||||||
2023 | 2022 | 2023 | 2022 | 2023 | 2022 | 2023 | 2022 | |||||||||||||||||||||||||||||||||||||||||||||
REVENUES | REVENUES | REVENUES | ||||||||||||||||||||||||||||||||||||||||||||||||||
Electric Generation, Transmission and Distribution | Electric Generation, Transmission and Distribution | $ | 580.4 | $ | 604.4 | $ | 1,223.2 | $ | 1,216.4 | Electric Generation, Transmission and Distribution | $ | 656.1 | $ | 695.7 | $ | 1,879.3 | $ | 1,912.1 | ||||||||||||||||||||||||||||||||||
Sales to AEP Affiliates | Sales to AEP Affiliates | 1.9 | 7.1 | 3.1 | 9.1 | Sales to AEP Affiliates | 0.6 | 2.0 | 3.7 | 11.1 | ||||||||||||||||||||||||||||||||||||||||||
Other Revenues – Affiliated | Other Revenues – Affiliated | 14.5 | 16.7 | 30.4 | 25.1 | Other Revenues – Affiliated | 15.4 | 13.3 | 45.8 | 38.4 | ||||||||||||||||||||||||||||||||||||||||||
Other Revenues – Nonaffiliated | Other Revenues – Nonaffiliated | 2.4 | 2.8 | 5.5 | 5.6 | Other Revenues – Nonaffiliated | 4.2 | 4.4 | 9.7 | 10.0 | ||||||||||||||||||||||||||||||||||||||||||
TOTAL REVENUES | TOTAL REVENUES | 599.2 | 631.0 | 1,262.2 | 1,256.2 | TOTAL REVENUES | 676.3 | 715.4 | 1,938.5 | 1,971.6 | ||||||||||||||||||||||||||||||||||||||||||
EXPENSES | EXPENSES | EXPENSES | ||||||||||||||||||||||||||||||||||||||||||||||||||
Purchased Electricity, Fuel and Other Consumables Used for Electric Generation | Purchased Electricity, Fuel and Other Consumables Used for Electric Generation | 93.9 | 110.9 | 193.1 | 216.6 | Purchased Electricity, Fuel and Other Consumables Used for Electric Generation | 129.3 | 150.6 | 322.4 | 367.2 | ||||||||||||||||||||||||||||||||||||||||||
Purchased Electricity from AEP Affiliates | Purchased Electricity from AEP Affiliates | 37.1 | 59.6 | 82.2 | 116.7 | Purchased Electricity from AEP Affiliates | 57.0 | 67.9 | 139.2 | 184.6 | ||||||||||||||||||||||||||||||||||||||||||
Other Operation | Other Operation | 170.1 | 149.2 | 339.8 | 288.5 | Other Operation | 168.9 | 162.4 | 508.7 | 450.9 | ||||||||||||||||||||||||||||||||||||||||||
Maintenance | Maintenance | 57.1 | 60.8 | 115.7 | 111.8 | Maintenance | 57.3 | 55.9 | 173.0 | 167.7 | ||||||||||||||||||||||||||||||||||||||||||
Depreciation and Amortization | Depreciation and Amortization | 111.0 | 133.7 | 236.2 | 268.6 | Depreciation and Amortization | 116.7 | 131.6 | 352.9 | 400.2 | ||||||||||||||||||||||||||||||||||||||||||
Taxes Other Than Income Taxes | Taxes Other Than Income Taxes | 20.6 | 28.6 | 40.1 | 53.8 | Taxes Other Than Income Taxes | 22.3 | 22.4 | 62.4 | 76.2 | ||||||||||||||||||||||||||||||||||||||||||
TOTAL EXPENSES | TOTAL EXPENSES | 489.8 | 542.8 | 1,007.1 | 1,056.0 | TOTAL EXPENSES | 551.5 | 590.8 | 1,558.6 | 1,646.8 | ||||||||||||||||||||||||||||||||||||||||||
OPERATING INCOME | OPERATING INCOME | 109.4 | 88.2 | 255.1 | 200.2 | OPERATING INCOME | 124.8 | 124.6 | 379.9 | 324.8 | ||||||||||||||||||||||||||||||||||||||||||
Other Income (Expense): | Other Income (Expense): | Other Income (Expense): | ||||||||||||||||||||||||||||||||||||||||||||||||||
Other Income | Other Income | 3.0 | 2.4 | 3.6 | 5.0 | Other Income | 4.5 | 2.4 | 8.1 | 7.4 | ||||||||||||||||||||||||||||||||||||||||||
Non-Service Cost Components of Net Periodic Benefit Cost | Non-Service Cost Components of Net Periodic Benefit Cost | 7.7 | 6.2 | 15.7 | 12.5 | Non-Service Cost Components of Net Periodic Benefit Cost | 7.7 | 6.3 | 23.4 | 18.8 | ||||||||||||||||||||||||||||||||||||||||||
Interest Expense | Interest Expense | (35.8) | (31.0) | (69.0) | (61.3) | Interest Expense | (33.0) | (31.2) | (102.0) | (92.5) | ||||||||||||||||||||||||||||||||||||||||||
INCOME BEFORE INCOME TAX EXPENSE (BENEFIT) | 84.3 | 65.8 | 205.4 | 156.4 | ||||||||||||||||||||||||||||||||||||||||||||||||
INCOME BEFORE INCOME TAX EXPENSE | INCOME BEFORE INCOME TAX EXPENSE | 104.0 | 102.1 | 309.4 | 258.5 | |||||||||||||||||||||||||||||||||||||||||||||||
Income Tax Expense (Benefit) | 9.5 | (1.4) | 27.8 | (0.3) | ||||||||||||||||||||||||||||||||||||||||||||||||
Income Tax Expense | Income Tax Expense | 11.0 | 8.0 | 38.8 | 7.7 | |||||||||||||||||||||||||||||||||||||||||||||||
NET INCOME | NET INCOME | $ | 74.8 | $ | 67.2 | $ | 177.6 | $ | 156.7 | NET INCOME | $ | 93.0 | $ | 94.1 | $ | 270.6 | $ | 250.8 | ||||||||||||||||||||||||||||||||||
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 | Six Months Ended | Three Months Ended | Nine Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||
June 30, | June 30, | September 30, | September 30, | |||||||||||||||||||||||||||||||||||||||||||||||||
2023 | 2022 | 2023 | 2022 | 2023 | 2022 | 2023 | 2022 | |||||||||||||||||||||||||||||||||||||||||||||
Net Income | Net Income | $ | 74.8 | $ | 67.2 | $ | 177.6 | $ | 156.7 | Net Income | $ | 93.0 | $ | 94.1 | $ | 270.6 | $ | 250.8 | ||||||||||||||||||||||||||||||||||
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 and $0.1 for the Three Months Ended June 30, 2023 and 2022, Respectively, and $(0.2) and $0.2 for the Six Months Ended June 30, 2023 and 2022, Respectively | 0.1 | 0.4 | (0.6) | 0.8 | ||||||||||||||||||||||||||||||||||||||||||||||||
Amortization of Pension and OPEB Deferred Costs, Net of Tax of $(0.1) and $0 for the Three Months Ended June 30, 2023 and 2022, Respectively, and $(0.6) and $0 for the Six Months Ended June 30, 2023 and 2022, Respectively | (0.3) | (0.1) | (2.2) | (0.2) | ||||||||||||||||||||||||||||||||||||||||||||||||
Cash Flow Hedges, Net of Tax of $0.1 and $0.1 for the Three Months Ended September 30, 2023 and 2022, Respectively, and $(0.1) and $0.3 for the Nine Months Ended September 30, 2023 and 2022, Respectively | Cash Flow Hedges, Net of Tax of $0.1 and $0.1 for the Three Months Ended September 30, 2023 and 2022, Respectively, and $(0.1) and $0.3 for the Nine Months Ended September 30, 2023 and 2022, Respectively | 0.1 | 0.4 | (0.5) | 1.2 | |||||||||||||||||||||||||||||||||||||||||||||||
Amortization of Pension and OPEB Deferred Costs, Net of Tax of $0 and $(0.1) for the Three Months Ended September 30, 2023 and 2022, Respectively, and $(0.6) and $(0.1) for the Nine Months Ended September 30, 2023 and 2022, Respectively | Amortization of Pension and OPEB Deferred Costs, Net of Tax of $0 and $(0.1) for the Three Months Ended September 30, 2023 and 2022, Respectively, and $(0.6) and $(0.1) for the Nine Months Ended September 30, 2023 and 2022, Respectively | (0.2) | (0.1) | (2.4) | (0.3) | |||||||||||||||||||||||||||||||||||||||||||||||
TOTAL OTHER COMPREHENSIVE INCOME (LOSS) | TOTAL OTHER COMPREHENSIVE INCOME (LOSS) | (0.2) | 0.3 | (2.8) | 0.6 | TOTAL OTHER COMPREHENSIVE INCOME (LOSS) | (0.1) | 0.3 | (2.9) | 0.9 | ||||||||||||||||||||||||||||||||||||||||||
TOTAL COMPREHENSIVE INCOME | TOTAL COMPREHENSIVE INCOME | $ | 74.6 | $ | 67.5 | $ | 174.8 | $ | 157.3 | TOTAL COMPREHENSIVE INCOME | $ | 92.9 | $ | 94.4 | $ | 267.7 | $ | 251.7 | ||||||||||||||||||||||||||||||||||
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, 2021 | TOTAL COMMON SHAREHOLDER’S EQUITY - DECEMBER 31, 2021 | $ | 56.6 | $ | 980.9 | $ | 1,748.5 | $ | (1.3) | $ | 2,784.7 | TOTAL COMMON SHAREHOLDER’S EQUITY - DECEMBER 31, 2021 | $ | 56.6 | $ | 980.9 | $ | 1,748.5 | $ | (1.3) | $ | 2,784.7 | ||||||||||||||||||||||||||||||||||||||||||
Common Stock Dividends | Common Stock Dividends | (25.0) | (25.0) | Common Stock Dividends | (25.0) | (25.0) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net Income | Net Income | 89.5 | 89.5 | Net Income | 89.5 | 89.5 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Comprehensive Income | Other Comprehensive Income | 0.3 | 0.3 | Other Comprehensive Income | 0.3 | 0.3 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
TOTAL COMMON SHAREHOLDER'S EQUITY -MARCH 31, 2022 | TOTAL COMMON SHAREHOLDER'S EQUITY -MARCH 31, 2022 | 56.6 | 980.9 | 1,813.0 | (1.0) | 2,849.5 | TOTAL COMMON SHAREHOLDER'S EQUITY -MARCH 31, 2022 | 56.6 | 980.9 | 1,813.0 | (1.0) | 2,849.5 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Capital Contribution from Parent | Capital Contribution from Parent | 1.3 | 1.3 | Capital Contribution from Parent | 1.3 | 1.3 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common Stock Dividends | Common Stock Dividends | (25.0) | (25.0) | Common Stock Dividends | (25.0) | (25.0) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net Income | Net Income | 67.2 | 67.2 | Net Income | 67.2 | 67.2 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Comprehensive Income | Other Comprehensive Income | 0.3 | 0.3 | Other Comprehensive Income | 0.3 | 0.3 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
TOTAL COMMON SHAREHOLDER'S EQUITY - JUNE 30, 2022 | TOTAL COMMON SHAREHOLDER'S EQUITY - JUNE 30, 2022 | $ | 56.6 | $ | 982.2 | $ | 1,855.2 | $ | (0.7) | $ | 2,893.3 | TOTAL COMMON SHAREHOLDER'S EQUITY - JUNE 30, 2022 | 56.6 | 982.2 | 1,855.2 | (0.7) | 2,893.3 | |||||||||||||||||||||||||||||||||||||||||||||||
Capital Contribution from Parent | Capital Contribution from Parent | 0.6 | 0.6 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common Stock Dividends | Common Stock Dividends | (20.0) | (20.0) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net Income | Net Income | 94.1 | 94.1 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Comprehensive Income | Other Comprehensive Income | 0.3 | 0.3 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
TOTAL COMMON SHAREHOLDER'S EQUITY - SEPTEMBER 30, 2022 | TOTAL COMMON SHAREHOLDER'S EQUITY - SEPTEMBER 30, 2022 | $ | 56.6 | $ | 982.8 | $ | 1,929.3 | $ | (0.4) | $ | 2,968.3 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
TOTAL COMMON SHAREHOLDER’S EQUITY - DECEMBER 31, 2022 | TOTAL COMMON SHAREHOLDER’S EQUITY - DECEMBER 31, 2022 | $ | 56.6 | $ | 988.8 | $ | 1,963.2 | $ | (0.3) | $ | 3,008.3 | TOTAL COMMON SHAREHOLDER’S EQUITY - DECEMBER 31, 2022 | $ | 56.6 | $ | 988.8 | $ | 1,963.2 | $ | (0.3) | $ | 3,008.3 | ||||||||||||||||||||||||||||||||||||||||||
Common Stock Dividends | Common Stock Dividends | (31.2) | (31.2) | Common Stock Dividends | (31.2) | (31.2) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net Income | Net Income | 102.8 | 102.8 | Net Income | 102.8 | 102.8 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Comprehensive Loss | Other Comprehensive Loss | (2.6) | (2.6) | Other Comprehensive Loss | (2.6) | (2.6) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
TOTAL COMMON SHAREHOLDER'S EQUITY - MARCH 31, 2023 | TOTAL COMMON SHAREHOLDER'S EQUITY - MARCH 31, 2023 | 56.6 | 988.8 | 2,034.8 | (2.9) | 3,077.3 | TOTAL COMMON SHAREHOLDER'S EQUITY - MARCH 31, 2023 | 56.6 | 988.8 | 2,034.8 | (2.9) | 3,077.3 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Capital Contribution from Parent | Capital Contribution from Parent | 0.1 | 0.1 | Capital Contribution from Parent | 0.1 | 0.1 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common Stock Dividends | Common Stock Dividends | (31.3) | (31.3) | Common Stock Dividends | (31.3) | (31.3) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net Income | Net Income | 74.8 | 74.8 | Net Income | 74.8 | 74.8 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Comprehensive Loss | Other Comprehensive Loss | (0.2) | (0.2) | Other Comprehensive Loss | (0.2) | (0.2) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
TOTAL COMMON SHAREHOLDER'S EQUITY - JUNE 30, 2023 | TOTAL COMMON SHAREHOLDER'S EQUITY - JUNE 30, 2023 | $ | 56.6 | $ | 988.9 | $ | 2,078.3 | $ | (3.1) | $ | 3,120.7 | TOTAL COMMON SHAREHOLDER'S EQUITY - JUNE 30, 2023 | 56.6 | 988.9 | 2,078.3 | (3.1) | 3,120.7 | |||||||||||||||||||||||||||||||||||||||||||||||
Capital Contribution from Parent | Capital Contribution from Parent | 1.6 | 1.6 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common Stock Dividends | Common Stock Dividends | (75.0) | (75.0) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net Income | Net Income | 93.0 | 93.0 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Comprehensive Loss | Other Comprehensive Loss | (0.1) | (0.1) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
TOTAL COMMON SHAREHOLDER'S EQUITY - SEPTEMBER 30, 2023 | TOTAL COMMON SHAREHOLDER'S EQUITY - SEPTEMBER 30, 2023 | $ | 56.6 | $ | 990.5 | $ | 2,096.3 | $ | (3.2) | $ | 3,140.2 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
June 30, | December 31, | September 30, | December 31, | |||||||||||||||||||||||||
2023 | 2022 | 2023 | 2022 | |||||||||||||||||||||||||
CURRENT ASSETS | CURRENT ASSETS | CURRENT ASSETS | ||||||||||||||||||||||||||
Cash and Cash Equivalents | Cash and Cash Equivalents | $ | 3.8 | $ | 4.2 | Cash and Cash Equivalents | $ | 2.7 | $ | 4.2 | ||||||||||||||||||
Advances to Affiliates | Advances to Affiliates | 40.5 | 23.0 | Advances to Affiliates | 21.2 | 23.0 | ||||||||||||||||||||||
Accounts Receivable: | Accounts Receivable: | Accounts Receivable: | ||||||||||||||||||||||||||
Customers | Customers | 48.9 | 96.6 | Customers | 46.2 | 96.6 | ||||||||||||||||||||||
Affiliated Companies | Affiliated Companies | 113.3 | 104.0 | Affiliated Companies | 69.4 | 104.0 | ||||||||||||||||||||||
Accrued Unbilled Revenues | Accrued Unbilled Revenues | 0.8 | 0.6 | Accrued Unbilled Revenues | 3.9 | 0.6 | ||||||||||||||||||||||
Miscellaneous | Miscellaneous | 6.6 | 4.7 | Miscellaneous | 5.3 | 4.7 | ||||||||||||||||||||||
Allowance for Uncollectible Accounts | Allowance for Uncollectible Accounts | (0.1) | (0.1) | Allowance for Uncollectible Accounts | — | (0.1) | ||||||||||||||||||||||
Total Accounts Receivable | Total Accounts Receivable | 169.5 | 205.8 | Total Accounts Receivable | 124.8 | 205.8 | ||||||||||||||||||||||
Fuel | Fuel | 85.6 | 46.5 | Fuel | 78.6 | 46.5 | ||||||||||||||||||||||
Materials and Supplies | Materials and Supplies | 201.7 | 188.1 | Materials and Supplies | 198.7 | 188.1 | ||||||||||||||||||||||
Risk Management Assets | Risk Management Assets | 21.4 | 15.2 | Risk Management Assets | 15.8 | 15.2 | ||||||||||||||||||||||
Regulatory Asset for Under-Recovered Fuel Costs | Regulatory Asset for Under-Recovered Fuel Costs | 17.5 | 47.1 | Regulatory Asset for Under-Recovered Fuel Costs | 13.3 | 47.1 | ||||||||||||||||||||||
Prepayments and Other Current Assets | Prepayments and Other Current Assets | 44.1 | 41.9 | Prepayments and Other Current Assets | 43.9 | 41.9 | ||||||||||||||||||||||
TOTAL CURRENT ASSETS | TOTAL CURRENT ASSETS | 584.1 | 571.8 | TOTAL CURRENT ASSETS | 499.0 | 571.8 | ||||||||||||||||||||||
PROPERTY, PLANT AND EQUIPMENT | PROPERTY, PLANT AND EQUIPMENT | PROPERTY, PLANT AND EQUIPMENT | ||||||||||||||||||||||||||
Electric: | Electric: | Electric: | ||||||||||||||||||||||||||
Generation | Generation | 5,598.9 | 5,585.1 | Generation | 5,608.1 | 5,585.1 | ||||||||||||||||||||||
Transmission | Transmission | 1,871.5 | 1,842.2 | Transmission | 1,881.2 | 1,842.2 | ||||||||||||||||||||||
Distribution | Distribution | 3,131.7 | 3,024.7 | Distribution | 3,171.8 | 3,024.7 | ||||||||||||||||||||||
Other Property, Plant and Equipment (Including Coal Mining and Nuclear Fuel) | Other Property, Plant and Equipment (Including Coal Mining and Nuclear Fuel) | 831.6 | 839.3 | Other Property, Plant and Equipment (Including Coal Mining and Nuclear Fuel) | 834.3 | 839.3 | ||||||||||||||||||||||
Construction Work in Progress | Construction Work in Progress | 292.0 | 253.0 | Construction Work in Progress | 353.2 | 253.0 | ||||||||||||||||||||||
Total Property, Plant and Equipment | Total Property, Plant and Equipment | 11,725.7 | 11,544.3 | Total Property, Plant and Equipment | 11,848.6 | 11,544.3 | ||||||||||||||||||||||
Accumulated Depreciation, Depletion and Amortization | Accumulated Depreciation, Depletion and Amortization | 4,243.0 | 4,132.8 | Accumulated Depreciation, Depletion and Amortization | 4,312.9 | 4,132.8 | ||||||||||||||||||||||
TOTAL PROPERTY, PLANT AND EQUIPMENT – NET | TOTAL PROPERTY, PLANT AND EQUIPMENT – NET | 7,482.7 | 7,411.5 | TOTAL PROPERTY, PLANT AND EQUIPMENT – NET | 7,535.7 | 7,411.5 | ||||||||||||||||||||||
OTHER NONCURRENT ASSETS | OTHER NONCURRENT ASSETS | OTHER NONCURRENT ASSETS | ||||||||||||||||||||||||||
Regulatory Assets | Regulatory Assets | 392.1 | 459.6 | Regulatory Assets | 377.7 | 459.6 | ||||||||||||||||||||||
Spent Nuclear Fuel and Decommissioning Trusts | Spent Nuclear Fuel and Decommissioning Trusts | 3,648.8 | 3,341.2 | Spent Nuclear Fuel and Decommissioning Trusts | 3,539.7 | 3,341.2 | ||||||||||||||||||||||
Operating Lease Assets | Operating Lease Assets | 59.3 | 64.3 | Operating Lease Assets | 56.7 | 64.3 | ||||||||||||||||||||||
Deferred Charges and Other Noncurrent Assets | Deferred Charges and Other Noncurrent Assets | 273.2 | 270.5 | Deferred Charges and Other Noncurrent Assets | 257.7 | 270.5 | ||||||||||||||||||||||
TOTAL OTHER NONCURRENT ASSETS | TOTAL OTHER NONCURRENT ASSETS | 4,373.4 | 4,135.6 | TOTAL OTHER NONCURRENT ASSETS | 4,231.8 | 4,135.6 | ||||||||||||||||||||||
TOTAL ASSETS | TOTAL ASSETS | $ | 12,440.2 | $ | 12,118.9 | TOTAL ASSETS | $ | 12,266.5 | $ | 12,118.9 | ||||||||||||||||||
June 30, | December 31, | September 30, | December 31, | |||||||||||||||||||||||||
2023 | 2022 | 2023 | 2022 | |||||||||||||||||||||||||
CURRENT LIABILITIES | CURRENT LIABILITIES | CURRENT LIABILITIES | ||||||||||||||||||||||||||
Advances from Affiliates | Advances from Affiliates | $ | — | $ | 249.9 | Advances from Affiliates | $ | — | $ | 249.9 | ||||||||||||||||||
Accounts Payable: | Accounts Payable: | Accounts Payable: | ||||||||||||||||||||||||||
General | General | 220.8 | 173.4 | General | 177.6 | 173.4 | ||||||||||||||||||||||
Affiliated Companies | Affiliated Companies | 89.3 | 121.5 | Affiliated Companies | 89.0 | 121.5 | ||||||||||||||||||||||
Long-term Debt Due Within One Year – Nonaffiliated (June 30, 2023 and December 31, 2022 Amounts Include $72.1 and $89.6, Respectively, Related to DCC Fuel) | 74.3 | 341.8 | ||||||||||||||||||||||||||
Long-term Debt Due Within One Year – Nonaffiliated (September 30, 2023 and December 31, 2022 Amounts Include $59.5 and $89.6, Respectively, Related to DCC Fuel) | Long-term Debt Due Within One Year – Nonaffiliated (September 30, 2023 and December 31, 2022 Amounts Include $59.5 and $89.6, Respectively, Related to DCC Fuel) | 61.8 | 341.8 | |||||||||||||||||||||||||
Customer Deposits | Customer Deposits | 50.4 | 48.6 | Customer Deposits | 54.6 | 48.6 | ||||||||||||||||||||||
Accrued Taxes | Accrued Taxes | 100.2 | 103.2 | Accrued Taxes | 77.9 | 103.2 | ||||||||||||||||||||||
Accrued Interest | Accrued Interest | 42.1 | 36.9 | Accrued Interest | 38.7 | 36.9 | ||||||||||||||||||||||
Obligations Under Operating Leases | Obligations Under Operating Leases | 16.5 | 16.0 | Obligations Under Operating Leases | 16.8 | 16.0 | ||||||||||||||||||||||
Regulatory Liability for Over-Recovered Fuel Costs | Regulatory Liability for Over-Recovered Fuel Costs | 19.1 | — | |||||||||||||||||||||||||
Other Current Liabilities | Other Current Liabilities | 84.6 | 105.8 | Other Current Liabilities | 88.5 | 105.8 | ||||||||||||||||||||||
TOTAL CURRENT LIABILITIES | TOTAL CURRENT LIABILITIES | 678.2 | 1,197.1 | TOTAL CURRENT LIABILITIES | 624.0 | 1,197.1 | ||||||||||||||||||||||
NONCURRENT LIABILITIES | NONCURRENT LIABILITIES | NONCURRENT LIABILITIES | ||||||||||||||||||||||||||
Long-term Debt – Nonaffiliated | Long-term Debt – Nonaffiliated | 3,389.8 | 2,919.0 | Long-term Debt – Nonaffiliated | 3,381.8 | 2,919.0 | ||||||||||||||||||||||
Deferred Income Taxes | Deferred Income Taxes | 1,182.6 | 1,157.0 | Deferred Income Taxes | 1,192.7 | 1,157.0 | ||||||||||||||||||||||
Regulatory Liabilities and Deferred Investment Tax Credits | Regulatory Liabilities and Deferred Investment Tax Credits | 1,909.5 | 1,702.2 | Regulatory Liabilities and Deferred Investment Tax Credits | 1,758.1 | 1,702.2 | ||||||||||||||||||||||
Asset Retirement Obligations | Asset Retirement Obligations | 2,064.9 | 2,027.6 | Asset Retirement Obligations | 2,083.6 | 2,027.6 | ||||||||||||||||||||||
Obligations Under Operating Leases | Obligations Under Operating Leases | 43.5 | 48.9 | Obligations Under Operating Leases | 40.5 | 48.9 | ||||||||||||||||||||||
Deferred Credits and Other Noncurrent Liabilities | Deferred Credits and Other Noncurrent Liabilities | 51.0 | 58.8 | Deferred Credits and Other Noncurrent Liabilities | 45.6 | 58.8 | ||||||||||||||||||||||
TOTAL NONCURRENT LIABILITIES | TOTAL NONCURRENT LIABILITIES | 8,641.3 | 7,913.5 | TOTAL NONCURRENT LIABILITIES | 8,502.3 | 7,913.5 | ||||||||||||||||||||||
TOTAL LIABILITIES | TOTAL LIABILITIES | 9,319.5 | 9,110.6 | TOTAL LIABILITIES | 9,126.3 | 9,110.6 | ||||||||||||||||||||||
Rate Matters (Note 4) | Rate Matters (Note 4) | Rate Matters (Note 4) | ||||||||||||||||||||||||||
Commitments and Contingencies (Note 5) | Commitments and Contingencies (Note 5) | Commitments and Contingencies (Note 5) | ||||||||||||||||||||||||||
COMMON SHAREHOLDER’S EQUITY | COMMON SHAREHOLDER’S EQUITY | COMMON SHAREHOLDER’S EQUITY | ||||||||||||||||||||||||||
Common Stock – No 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 | 988.9 | 988.8 | Paid-in Capital | 990.5 | 988.8 | ||||||||||||||||||||||
Retained Earnings | Retained Earnings | 2,078.3 | 1,963.2 | Retained Earnings | 2,096.3 | 1,963.2 | ||||||||||||||||||||||
Accumulated Other Comprehensive Income (Loss) | Accumulated Other Comprehensive Income (Loss) | (3.1) | (0.3) | Accumulated Other Comprehensive Income (Loss) | (3.2) | (0.3) | ||||||||||||||||||||||
TOTAL COMMON SHAREHOLDER’S EQUITY | TOTAL COMMON SHAREHOLDER’S EQUITY | 3,120.7 | 3,008.3 | TOTAL COMMON SHAREHOLDER’S EQUITY | 3,140.2 | 3,008.3 | ||||||||||||||||||||||
TOTAL LIABILITIES AND COMMON SHAREHOLDER’S EQUITY | TOTAL LIABILITIES AND COMMON SHAREHOLDER’S EQUITY | $ | 12,440.2 | $ | 12,118.9 | TOTAL LIABILITIES AND COMMON SHAREHOLDER’S EQUITY | $ | 12,266.5 | $ | 12,118.9 | ||||||||||||||||||
Six Months Ended June 30, | Nine Months Ended September 30, | |||||||||||||||||||||||||||
2023 | 2022 | 2023 | 2022 | |||||||||||||||||||||||||
OPERATING ACTIVITIES | OPERATING ACTIVITIES | OPERATING ACTIVITIES | ||||||||||||||||||||||||||
Net Income | Net Income | $ | 177.6 | $ | 156.7 | Net Income | $ | 270.6 | $ | 250.8 | ||||||||||||||||||
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 | 236.2 | 268.6 | Depreciation and Amortization | 352.9 | 400.2 | ||||||||||||||||||||||
Deferred Income Taxes | Deferred Income Taxes | (1.9) | 0.3 | Deferred Income Taxes | (16.4) | (15.8) | ||||||||||||||||||||||
Amortization (Deferral) of Incremental Nuclear Refueling Outage Expenses, Net | Amortization (Deferral) of Incremental Nuclear Refueling Outage Expenses, Net | 36.7 | (38.3) | Amortization (Deferral) of Incremental Nuclear Refueling Outage Expenses, Net | 44.3 | (35.2) | ||||||||||||||||||||||
Allowance for Equity Funds Used During Construction | Allowance for Equity Funds Used During Construction | (2.8) | (5.4) | Allowance for Equity Funds Used During Construction | (6.6) | (7.9) | ||||||||||||||||||||||
Mark-to-Market of Risk Management Contracts | Mark-to-Market of Risk Management Contracts | (13.7) | (11.6) | Mark-to-Market of Risk Management Contracts | (4.7) | (13.2) | ||||||||||||||||||||||
Amortization of Nuclear Fuel | Amortization of Nuclear Fuel | 50.2 | 39.0 | Amortization of Nuclear Fuel | 75.7 | 63.1 | ||||||||||||||||||||||
Deferred Fuel Over/Under-Recovery, Net | Deferred Fuel Over/Under-Recovery, Net | 29.6 | (17.5) | Deferred Fuel Over/Under-Recovery, Net | 52.9 | (20.5) | ||||||||||||||||||||||
Change in Other Noncurrent Assets | Change in Other Noncurrent Assets | (7.0) | 3.3 | Change in Other Noncurrent Assets | 3.1 | 12.5 | ||||||||||||||||||||||
Change in Other Noncurrent Liabilities | Change in Other Noncurrent Liabilities | (4.6) | 22.2 | Change in Other Noncurrent Liabilities | 9.0 | 42.1 | ||||||||||||||||||||||
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 | 37.3 | 24.0 | Accounts Receivable, Net | 82.5 | 5.3 | ||||||||||||||||||||||
Fuel, Materials and Supplies | Fuel, Materials and Supplies | (52.7) | 4.5 | Fuel, Materials and Supplies | (42.7) | 3.1 | ||||||||||||||||||||||
Accounts Payable | Accounts Payable | 46.8 | 13.6 | Accounts Payable | (34.8) | 19.6 | ||||||||||||||||||||||
Accrued Taxes, Net | Accrued Taxes, Net | (3.0) | (2.4) | Accrued Taxes, Net | (25.3) | (17.0) | ||||||||||||||||||||||
Other Current Assets | Other Current Assets | (3.6) | 15.2 | Other Current Assets | (3.4) | 19.3 | ||||||||||||||||||||||
Other Current Liabilities | Other Current Liabilities | (23.4) | (20.1) | Other Current Liabilities | (22.7) | (63.6) | ||||||||||||||||||||||
Net Cash Flows from Operating Activities | Net Cash Flows from Operating Activities | 501.7 | 452.1 | Net Cash Flows from Operating Activities | 734.4 | 642.8 | ||||||||||||||||||||||
INVESTING ACTIVITIES | INVESTING ACTIVITIES | INVESTING ACTIVITIES | ||||||||||||||||||||||||||
Construction Expenditures | Construction Expenditures | (267.1) | (262.5) | Construction Expenditures | (418.4) | (407.4) | ||||||||||||||||||||||
Change in Advances to Affiliates, Net | Change in Advances to Affiliates, Net | (17.5) | (1.0) | Change in Advances to Affiliates, Net | 1.8 | (1.1) | ||||||||||||||||||||||
Purchases of Investment Securities | Purchases of Investment Securities | (1,233.3) | (1,253.2) | Purchases of Investment Securities | (2,182.8) | (1,854.8) | ||||||||||||||||||||||
Sales of Investment Securities | Sales of Investment Securities | 1,206.3 | 1,229.9 | Sales of Investment Securities | 2,139.3 | 1,818.4 | ||||||||||||||||||||||
Acquisitions of Nuclear Fuel | Acquisitions of Nuclear Fuel | (73.9) | (67.7) | Acquisitions of Nuclear Fuel | (60.9) | (91.9) | ||||||||||||||||||||||
Other Investing Activities | Other Investing Activities | 3.3 | 3.0 | Other Investing Activities | 4.9 | 8.0 | ||||||||||||||||||||||
Net Cash Flows Used for Investing Activities | Net Cash Flows Used for Investing Activities | (382.2) | (351.5) | Net Cash Flows Used for Investing Activities | (516.1) | (528.8) | ||||||||||||||||||||||
FINANCING ACTIVITIES | FINANCING ACTIVITIES | FINANCING ACTIVITIES | ||||||||||||||||||||||||||
Capital Contribution from Parent | Capital Contribution from Parent | 0.1 | 1.3 | Capital Contribution from Parent | 1.7 | 1.9 | ||||||||||||||||||||||
Issuance of Long-term Debt – Nonaffiliated | Issuance of Long-term Debt – Nonaffiliated | 494.9 | 72.8 | Issuance of Long-term Debt – Nonaffiliated | 494.8 | 72.8 | ||||||||||||||||||||||
Change in Advances from Affiliates, Net | Change in Advances from Affiliates, Net | (249.9) | (42.8) | Change in Advances from Affiliates, Net | (249.9) | 11.6 | ||||||||||||||||||||||
Retirement of Long-term Debt – Nonaffiliated | Retirement of Long-term Debt – Nonaffiliated | (299.2) | (40.7) | Retirement of Long-term Debt – Nonaffiliated | (324.1) | (64.5) | ||||||||||||||||||||||
Principal Payments for Finance Lease Obligations | Principal Payments for Finance Lease Obligations | (3.8) | (40.1) | Principal Payments for Finance Lease Obligations | (5.4) | (41.6) | ||||||||||||||||||||||
Dividends Paid on Common Stock | Dividends Paid on Common Stock | (62.5) | (50.0) | Dividends Paid on Common Stock | (137.5) | (70.0) | ||||||||||||||||||||||
Other Financing Activities | Other Financing Activities | 0.5 | 0.4 | Other Financing Activities | 0.6 | 0.3 | ||||||||||||||||||||||
Net Cash Flows Used for Financing Activities | Net Cash Flows Used for Financing Activities | (119.9) | (99.1) | Net Cash Flows Used for Financing Activities | (219.8) | (89.5) | ||||||||||||||||||||||
Net Increase (Decrease) in Cash and Cash Equivalents | Net Increase (Decrease) in Cash and Cash Equivalents | (0.4) | 1.5 | Net Increase (Decrease) in Cash and Cash Equivalents | (1.5) | 24.5 | ||||||||||||||||||||||
Cash and Cash Equivalents at Beginning of Period | Cash and Cash Equivalents at Beginning of Period | 4.2 | 1.3 | Cash and Cash Equivalents at Beginning of Period | 4.2 | 1.3 | ||||||||||||||||||||||
Cash and Cash Equivalents at End of Period | Cash and Cash Equivalents at End of Period | $ | 3.8 | $ | 2.8 | Cash and Cash Equivalents at End of Period | $ | 2.7 | $ | 25.8 | ||||||||||||||||||
SUPPLEMENTARY INFORMATION | SUPPLEMENTARY INFORMATION | SUPPLEMENTARY INFORMATION | ||||||||||||||||||||||||||
Cash Paid for Interest, Net of Capitalized Amounts | Cash Paid for Interest, Net of Capitalized Amounts | $ | 62.1 | $ | 59.2 | Cash Paid for Interest, Net of Capitalized Amounts | $ | 100.1 | $ | 101.6 | ||||||||||||||||||
Net Cash Paid (Received) for Income Taxes | Net Cash Paid (Received) for Income Taxes | 13.8 | (4.9) | Net Cash Paid (Received) for Income Taxes | 36.2 | (4.1) | ||||||||||||||||||||||
Noncash Acquisitions Under Finance Leases | Noncash Acquisitions Under Finance Leases | 3.2 | 0.4 | Noncash Acquisitions Under Finance Leases | 3.6 | 0.8 | ||||||||||||||||||||||
Construction Expenditures Included in Current Liabilities as of June 30, | 78.1 | 68.2 | ||||||||||||||||||||||||||
Acquisition of Nuclear Fuel Included in Current Liabilities as of June 30, | (36.0) | — | ||||||||||||||||||||||||||
Construction Expenditures Included in Current Liabilities as of September 30, | Construction Expenditures Included in Current Liabilities as of September 30, | 70.6 | 68.1 | |||||||||||||||||||||||||
Acquisition of Nuclear Fuel Included in Current Liabilities as of September 30, | Acquisition of Nuclear Fuel Included in Current Liabilities as of September 30, | 9.5 | 8.5 | |||||||||||||||||||||||||
Three Months Ended | Six Months Ended | Three Months Ended | Nine Months Ended | |||||||||||||||||||||||||||||||||||||||||||
June 30, | June 30, | September 30, | September 30, | |||||||||||||||||||||||||||||||||||||||||||
2023 | 2022 | 2023 | 2022 | 2023 | 2022 | 2023 | 2022 | |||||||||||||||||||||||||||||||||||||||
(in millions of KWhs) | (in millions of KWhs) | |||||||||||||||||||||||||||||||||||||||||||||
Retail: | Retail: | Retail: | ||||||||||||||||||||||||||||||||||||||||||||
Residential | Residential | 2,828 | 3,058 | 6,562 | 7,192 | Residential | 3,761 | 3,954 | 10,323 | 11,146 | ||||||||||||||||||||||||||||||||||||
Commercial | Commercial | 3,950 | 3,850 | 7,950 | 7,701 | Commercial | 4,553 | 4,295 | 12,503 | 11,996 | ||||||||||||||||||||||||||||||||||||
Industrial | Industrial | 3,502 | 3,624 | 6,920 | 7,127 | Industrial | 3,536 | 3,561 | 10,456 | 10,688 | ||||||||||||||||||||||||||||||||||||
Miscellaneous | Miscellaneous | 24 | 24 | 54 | 54 | Miscellaneous | 24 | 25 | 78 | 79 | ||||||||||||||||||||||||||||||||||||
Total Retail (a) | Total Retail (a) | 10,304 | 10,556 | 21,486 | 22,074 | Total Retail (a) | 11,874 | 11,835 | 33,360 | 33,909 | ||||||||||||||||||||||||||||||||||||
Wholesale (b) | Wholesale (b) | 428 | 565 | 881 | 1,136 | Wholesale (b) | 485 | 587 | 1,366 | 1,723 | ||||||||||||||||||||||||||||||||||||
Total KWhs | Total KWhs | 10,732 | 11,121 | 22,367 | 23,210 | Total KWhs | 12,359 | 12,422 | 34,726 | 35,632 |
Three Months Ended | Six Months Ended | Three Months Ended | Nine Months Ended | |||||||||||||||||||||||||||||||||||||||||||
June 30, | June 30, | September 30, | September 30, | |||||||||||||||||||||||||||||||||||||||||||
2023 | 2022 | 2023 | 2022 | 2023 | 2022 | 2023 | 2022 | |||||||||||||||||||||||||||||||||||||||
(in degree days) | (in degree days) | |||||||||||||||||||||||||||||||||||||||||||||
Actual – Heating (a) | Actual – Heating (a) | 177 | 206 | 1,521 | 2,070 | Actual – Heating (a) | — | 8 | 1,521 | 2,078 | ||||||||||||||||||||||||||||||||||||
Normal – Heating (b) | Normal – Heating (b) | 185 | 186 | 2,076 | 2,072 | Normal – Heating (b) | 4 | 5 | 2,080 | 2,077 | ||||||||||||||||||||||||||||||||||||
Actual – Cooling (c) | Actual – Cooling (c) | 184 | 359 | 184 | 360 | Actual – Cooling (c) | 625 | 755 | 809 | 1,115 | ||||||||||||||||||||||||||||||||||||
Normal – Cooling (b) | Normal – Cooling (b) | 305 | 298 | 308 | 301 | Normal – Cooling (b) | 697 | 688 | 1,005 | 989 |
Ohio Power Company and Subsidiaries | Ohio Power Company and Subsidiaries | Ohio Power Company and Subsidiaries | ||||||||||||||||||||||||||
Reconciliation of 2022 to 2023 Net Income | Reconciliation of 2022 to 2023 Net Income | Reconciliation of 2022 to 2023 Net Income | ||||||||||||||||||||||||||
(in millions) | (in millions) | (in millions) | ||||||||||||||||||||||||||
Three Months Ended June 30, | Six Months Ended June 30, | Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||||||||||||
2022 Net Income | 2022 Net Income | $ | 74.8 | $ | 158.0 | 2022 Net Income | $ | 71.9 | $ | 229.9 | ||||||||||||||||||
Changes in Gross Margin: | Changes in Gross Margin: | Changes in Gross Margin: | ||||||||||||||||||||||||||
Retail Margins | Retail Margins | 13.7 | 34.2 | Retail Margins | 66.8 | 101.0 | ||||||||||||||||||||||
Margins from Off-system Sales | Margins from Off-system Sales | 17.3 | 41.4 | Margins from Off-system Sales | (5.5) | 35.9 | ||||||||||||||||||||||
Transmission Revenues | Transmission Revenues | 2.0 | 1.1 | Transmission Revenues | 2.9 | 4.0 | ||||||||||||||||||||||
Other Revenues | Other Revenues | (3.3) | (2.4) | Other Revenues | 4.8 | 2.4 | ||||||||||||||||||||||
Total Change in Gross Margin | Total Change in Gross Margin | 29.7 | 74.3 | Total Change in Gross Margin | 69.0 | 143.3 | ||||||||||||||||||||||
Changes in Expenses and Other: | Changes in Expenses and Other: | Changes in Expenses and Other: | ||||||||||||||||||||||||||
Other Operation and Maintenance | Other Operation and Maintenance | (44.8) | (84.9) | Other Operation and Maintenance | (44.0) | (128.9) | ||||||||||||||||||||||
Depreciation and Amortization | Depreciation and Amortization | 3.1 | 2.8 | Depreciation and Amortization | (10.6) | (7.8) | ||||||||||||||||||||||
Taxes Other Than Income Taxes | Taxes Other Than Income Taxes | 6.8 | (1.5) | Taxes Other Than Income Taxes | (1.5) | (3.0) | ||||||||||||||||||||||
Other Income | Other Income | (0.4) | (0.5) | Other Income | (0.1) | (0.6) | ||||||||||||||||||||||
Allowance for Equity Funds Used During Construction | Allowance for Equity Funds Used During Construction | (0.5) | (0.7) | Allowance for Equity Funds Used During Construction | 1.7 | 1.0 | ||||||||||||||||||||||
Non-Service Cost Components of Net Periodic Benefit Cost | Non-Service Cost Components of Net Periodic Benefit Cost | 1.0 | 2.0 | Non-Service Cost Components of Net Periodic Benefit Cost | 0.9 | 2.9 | ||||||||||||||||||||||
Interest Expense | Interest Expense | (2.1) | (4.0) | Interest Expense | (4.1) | (8.1) | ||||||||||||||||||||||
Total Change in Expenses and Other | Total Change in Expenses and Other | (36.9) | (86.8) | Total Change in Expenses and Other | (57.7) | (144.5) | ||||||||||||||||||||||
Income Tax Expense | Income Tax Expense | 0.9 | 1.0 | Income Tax Expense | (2.7) | (1.7) | ||||||||||||||||||||||
Equity Earnings of Unconsolidated Subsidiaries | Equity Earnings of Unconsolidated Subsidiaries | (0.8) | (0.8) | Equity Earnings of Unconsolidated Subsidiaries | — | (0.8) | ||||||||||||||||||||||
2023 Net Income | 2023 Net Income | $ | 67.7 | $ | 145.7 | 2023 Net Income | $ | 80.5 | $ | 226.2 |
Three Months Ended | Six Months Ended | Three Months Ended | Nine Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||
June 30, | June 30, | September 30, | September 30, | |||||||||||||||||||||||||||||||||||||||||||||||||
2023 | 2022 | 2023 | 2022 | 2023 | 2022 | 2023 | 2022 | |||||||||||||||||||||||||||||||||||||||||||||
REVENUES | REVENUES | REVENUES | ||||||||||||||||||||||||||||||||||||||||||||||||||
Electricity, Transmission and Distribution | Electricity, Transmission and Distribution | $ | 868.8 | $ | 817.2 | $ | 1,890.6 | $ | 1,641.4 | Electricity, Transmission and Distribution | $ | 978.7 | $ | 1,015.2 | $ | 2,869.3 | $ | 2,656.6 | ||||||||||||||||||||||||||||||||||
Sales to AEP Affiliates | Sales to AEP Affiliates | 8.2 | 3.9 | 15.8 | 7.6 | Sales to AEP Affiliates | 7.8 | 4.0 | 23.6 | 11.6 | ||||||||||||||||||||||||||||||||||||||||||
Other Revenues | Other Revenues | 2.1 | 1.8 | 7.3 | 3.9 | Other Revenues | 3.0 | 2.1 | 10.3 | 6.0 | ||||||||||||||||||||||||||||||||||||||||||
TOTAL REVENUES | TOTAL REVENUES | 879.1 | 822.9 | 1,913.7 | 1,652.9 | TOTAL REVENUES | 989.5 | 1,021.3 | 2,903.2 | 2,674.2 | ||||||||||||||||||||||||||||||||||||||||||
EXPENSES | EXPENSES | EXPENSES | ||||||||||||||||||||||||||||||||||||||||||||||||||
Purchased Electricity for Resale | Purchased Electricity for Resale | 267.6 | 249.2 | 660.2 | 475.5 | Purchased Electricity for Resale | 260.7 | 399.5 | 920.9 | 875.0 | ||||||||||||||||||||||||||||||||||||||||||
Purchased Electricity from AEP Affiliates | Purchased Electricity from AEP Affiliates | 11.6 | 3.5 | 11.6 | 9.8 | Purchased Electricity from AEP Affiliates | 38.0 | — | 49.6 | 9.8 | ||||||||||||||||||||||||||||||||||||||||||
Other Operation | Other Operation | 265.4 | 223.3 | 539.2 | 460.9 | Other Operation | 296.9 | 267.3 | 836.1 | 728.2 | ||||||||||||||||||||||||||||||||||||||||||
Maintenance | Maintenance | 51.2 | 48.5 | 95.5 | 88.9 | Maintenance | 62.2 | 47.8 | 157.7 | 136.7 | ||||||||||||||||||||||||||||||||||||||||||
Depreciation and Amortization | Depreciation and Amortization | 68.2 | 71.3 | 143.4 | 146.2 | Depreciation and Amortization | 81.3 | 70.7 | 224.7 | 216.9 | ||||||||||||||||||||||||||||||||||||||||||
Taxes Other Than Income Taxes | Taxes Other Than Income Taxes | 114.2 | 121.0 | 249.5 | 248.0 | Taxes Other Than Income Taxes | 132.5 | 131.0 | 382.0 | 379.0 | ||||||||||||||||||||||||||||||||||||||||||
TOTAL EXPENSES | TOTAL EXPENSES | 778.2 | 716.8 | 1,699.4 | 1,429.3 | TOTAL EXPENSES | 871.6 | 916.3 | 2,571.0 | 2,345.6 | ||||||||||||||||||||||||||||||||||||||||||
OPERATING INCOME | OPERATING INCOME | 100.9 | 106.1 | 214.3 | 223.6 | OPERATING INCOME | 117.9 | 105.0 | 332.2 | 328.6 | ||||||||||||||||||||||||||||||||||||||||||
Other Income (Expense): | Other Income (Expense): | Other Income (Expense): | ||||||||||||||||||||||||||||||||||||||||||||||||||
Other Income | Other Income | 0.2 | 0.6 | 0.3 | 0.8 | Other Income | 0.1 | 0.2 | 0.4 | 1.0 | ||||||||||||||||||||||||||||||||||||||||||
Allowance for Equity Funds Used During Construction | Allowance for Equity Funds Used During Construction | 2.9 | 3.4 | 5.7 | 6.4 | Allowance for Equity Funds Used During Construction | 5.6 | 3.9 | 11.3 | 10.3 | ||||||||||||||||||||||||||||||||||||||||||
Non-Service Cost Components of Net Periodic Benefit Cost | Non-Service Cost Components of Net Periodic Benefit Cost | 6.5 | 5.5 | 13.0 | 11.0 | Non-Service Cost Components of Net Periodic Benefit Cost | 6.5 | 5.6 | 19.5 | 16.6 | ||||||||||||||||||||||||||||||||||||||||||
Interest Expense | Interest Expense | (31.9) | (29.8) | (63.0) | (59.0) | Interest Expense | (33.9) | (29.8) | (96.9) | (88.8) | ||||||||||||||||||||||||||||||||||||||||||
INCOME BEFORE INCOME TAX EXPENSE AND EQUITY EARNINGS | INCOME BEFORE INCOME TAX EXPENSE AND EQUITY EARNINGS | 78.6 | 85.8 | 170.3 | 182.8 | INCOME BEFORE INCOME TAX EXPENSE AND EQUITY EARNINGS | 96.2 | 84.9 | 266.5 | 267.7 | ||||||||||||||||||||||||||||||||||||||||||
Income Tax Expense | Income Tax Expense | 10.9 | 11.8 | 24.6 | 25.6 | Income Tax Expense | 15.7 | 13.0 | 40.3 | 38.6 | ||||||||||||||||||||||||||||||||||||||||||
Equity Earnings of Unconsolidated Subsidiaries | Equity Earnings of Unconsolidated Subsidiaries | — | 0.8 | — | 0.8 | Equity Earnings of Unconsolidated Subsidiaries | — | — | — | 0.8 | ||||||||||||||||||||||||||||||||||||||||||
NET INCOME | NET INCOME | $ | 67.7 | $ | 74.8 | $ | 145.7 | $ | 158.0 | NET INCOME | $ | 80.5 | $ | 71.9 | $ | 226.2 | $ | 229.9 | ||||||||||||||||||||||||||||||||||
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. | ||||||||||||||||||||||||||||||||||||||||||||||||||
Common Stock | Paid-in Capital | Retained Earnings | Total | Common Stock | Paid-in Capital | Retained Earnings | Total | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
TOTAL COMMON SHAREHOLDER’S EQUITY – DECEMBER 31, 2021 | TOTAL COMMON SHAREHOLDER’S EQUITY – DECEMBER 31, 2021 | $ | 321.2 | $ | 838.8 | $ | 1,686.3 | $ | 2,846.3 | TOTAL COMMON SHAREHOLDER’S EQUITY – DECEMBER 31, 2021 | $ | 321.2 | $ | 838.8 | $ | 1,686.3 | $ | 2,846.3 | ||||||||||||||||||||||||||||||||||||||||||||||
Common Stock Dividends | Common Stock Dividends | (15.0) | (15.0) | Common Stock Dividends | (15.0) | (15.0) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net Income | Net Income | 83.2 | 83.2 | Net Income | 83.2 | 83.2 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
TOTAL COMMON SHAREHOLDER’S EQUITY – MARCH 31, 2022 | TOTAL COMMON SHAREHOLDER’S EQUITY – MARCH 31, 2022 | 321.2 | 838.8 | 1,754.5 | 2,914.5 | TOTAL COMMON SHAREHOLDER’S EQUITY – MARCH 31, 2022 | 321.2 | 838.8 | 1,754.5 | 2,914.5 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Capital Contribution from Parent | Capital Contribution from Parent | 0.7 | 0.7 | Capital Contribution from Parent | 0.7 | 0.7 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common Stock Dividends | Common Stock Dividends | (15.0) | (15.0) | Common Stock Dividends | (15.0) | (15.0) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net Income | Net Income | 74.8 | 74.8 | Net Income | 74.8 | 74.8 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
TOTAL COMMON SHAREHOLDER’S EQUITY – JUNE 30, 2022 | TOTAL COMMON SHAREHOLDER’S EQUITY – JUNE 30, 2022 | $ | 321.2 | $ | 839.5 | $ | 1,814.3 | $ | 2,975.0 | TOTAL COMMON SHAREHOLDER’S EQUITY – JUNE 30, 2022 | 321.2 | 839.5 | 1,814.3 | 2,975.0 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Capital Contribution from Parent | Capital Contribution from Parent | 0.3 | 0.3 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common Stock Dividends | Common Stock Dividends | (15.0) | (15.0) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net Income | Net Income | 71.9 | 71.9 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
TOTAL COMMON SHAREHOLDER’S EQUITY – SEPTEMBER 30, 2022 | TOTAL COMMON SHAREHOLDER’S EQUITY – SEPTEMBER 30, 2022 | $ | 321.2 | $ | 839.8 | $ | 1,871.2 | $ | 3,032.2 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
TOTAL COMMON SHAREHOLDER’S EQUITY – DECEMBER 31, 2022 | TOTAL COMMON SHAREHOLDER’S EQUITY – DECEMBER 31, 2022 | $ | 321.2 | $ | 837.8 | $ | 1,929.1 | $ | 3,088.1 | TOTAL COMMON SHAREHOLDER’S EQUITY – DECEMBER 31, 2022 | $ | 321.2 | $ | 837.8 | $ | 1,929.1 | $ | 3,088.1 | ||||||||||||||||||||||||||||||||||||||||||||||
Capital Contribution from Parent | Capital Contribution from Parent | 50.0 | 50.0 | Capital Contribution from Parent | 50.0 | 50.0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net Income | Net Income | 78.0 | 78.0 | Net Income | 78.0 | 78.0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
TOTAL COMMON SHAREHOLDER’S EQUITY – MARCH 31, 2023 | TOTAL COMMON SHAREHOLDER’S EQUITY – MARCH 31, 2023 | 321.2 | 887.8 | 2,007.1 | 3,216.1 | TOTAL COMMON SHAREHOLDER’S EQUITY – MARCH 31, 2023 | 321.2 | 887.8 | 2,007.1 | 3,216.1 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Capital Contribution from Parent | Capital Contribution from Parent | 125.0 | 125.0 | Capital Contribution from Parent | 125.0 | 125.0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net Income | Net Income | 67.7 | 67.7 | Net Income | 67.7 | 67.7 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
TOTAL COMMON SHAREHOLDER’S EQUITY – JUNE 30, 2023 | TOTAL COMMON SHAREHOLDER’S EQUITY – JUNE 30, 2023 | $ | 321.2 | $ | 1,012.8 | $ | 2,074.8 | $ | 3,408.8 | TOTAL COMMON SHAREHOLDER’S EQUITY – JUNE 30, 2023 | 321.2 | 1,012.8 | 2,074.8 | 3,408.8 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Net Income | Net Income | 80.5 | 80.5 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
TOTAL COMMON SHAREHOLDER’S EQUITY – SEPTEMBER 30, 2023 | TOTAL COMMON SHAREHOLDER’S EQUITY – SEPTEMBER 30, 2023 | $ | 321.2 | $ | 1,012.8 | $ | 2,155.3 | $ | 3,489.3 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
June 30, | December 31, | September 30, | December 31, | |||||||||||||||||||||||||
2023 | 2022 | 2023 | 2022 | |||||||||||||||||||||||||
CURRENT ASSETS | CURRENT ASSETS | CURRENT ASSETS | ||||||||||||||||||||||||||
Cash and Cash Equivalents | Cash and Cash Equivalents | $ | 9.7 | $ | 9.6 | Cash and Cash Equivalents | $ | 6.8 | $ | 9.6 | ||||||||||||||||||
Accounts Receivable: | Accounts Receivable: | Accounts Receivable: | ||||||||||||||||||||||||||
Customers | Customers | 106.0 | 119.9 | Customers | 104.1 | 119.9 | ||||||||||||||||||||||
Affiliated Companies | Affiliated Companies | 126.5 | 100.9 | Affiliated Companies | 129.3 | 100.9 | ||||||||||||||||||||||
Accrued Unbilled Revenues | Accrued Unbilled Revenues | — | 17.8 | Accrued Unbilled Revenues | 2.9 | 17.8 | ||||||||||||||||||||||
Miscellaneous | Miscellaneous | 0.4 | 0.1 | Miscellaneous | 1.6 | 0.1 | ||||||||||||||||||||||
Allowance for Uncollectible Accounts | Allowance for Uncollectible Accounts | — | (0.1) | Allowance for Uncollectible Accounts | 0.1 | (0.1) | ||||||||||||||||||||||
Total Accounts Receivable | Total Accounts Receivable | 232.9 | 238.6 | Total Accounts Receivable | 238.0 | 238.6 | ||||||||||||||||||||||
Materials and Supplies | Materials and Supplies | 139.3 | 109.5 | Materials and Supplies | 151.8 | 109.5 | ||||||||||||||||||||||
Renewable Energy Credits | Renewable Energy Credits | 28.9 | 35.0 | Renewable Energy Credits | 19.9 | 35.0 | ||||||||||||||||||||||
Prepayments and Other Current Assets | Prepayments and Other Current Assets | 15.8 | 21.7 | Prepayments and Other Current Assets | 27.2 | 21.7 | ||||||||||||||||||||||
TOTAL CURRENT ASSETS | TOTAL CURRENT ASSETS | 426.6 | 414.4 | TOTAL CURRENT ASSETS | 443.7 | 414.4 | ||||||||||||||||||||||
PROPERTY, PLANT AND EQUIPMENT | PROPERTY, PLANT AND EQUIPMENT | PROPERTY, PLANT AND EQUIPMENT | ||||||||||||||||||||||||||
Electric: | Electric: | Electric: | ||||||||||||||||||||||||||
Transmission | Transmission | 3,274.0 | 3,198.6 | Transmission | 3,320.1 | 3,198.6 | ||||||||||||||||||||||
Distribution | Distribution | 6,633.3 | 6,450.3 | Distribution | 6,718.3 | 6,450.3 | ||||||||||||||||||||||
Other Property, Plant and Equipment | Other Property, Plant and Equipment | 1,071.3 | 1,051.4 | Other Property, Plant and Equipment | 1,071.5 | 1,051.4 | ||||||||||||||||||||||
Construction Work in Progress | Construction Work in Progress | 651.3 | 474.3 | Construction Work in Progress | 720.6 | 474.3 | ||||||||||||||||||||||
Total Property, Plant and Equipment | Total Property, Plant and Equipment | 11,629.9 | 11,174.6 | Total Property, Plant and Equipment | 11,830.5 | 11,174.6 | ||||||||||||||||||||||
Accumulated Depreciation and Amortization | Accumulated Depreciation and Amortization | 2,627.0 | 2,565.3 | Accumulated Depreciation and Amortization | 2,670.5 | 2,565.3 | ||||||||||||||||||||||
TOTAL PROPERTY, PLANT AND EQUIPMENT – NET | TOTAL PROPERTY, PLANT AND EQUIPMENT – NET | 9,002.9 | 8,609.3 | TOTAL PROPERTY, PLANT AND EQUIPMENT – NET | 9,160.0 | 8,609.3 | ||||||||||||||||||||||
OTHER NONCURRENT ASSETS | OTHER NONCURRENT ASSETS | OTHER NONCURRENT ASSETS | ||||||||||||||||||||||||||
Regulatory Assets | Regulatory Assets | 406.9 | 327.3 | Regulatory Assets | 413.2 | 327.3 | ||||||||||||||||||||||
Operating Lease Assets | Operating Lease Assets | 71.0 | 73.8 | Operating Lease Assets | 68.9 | 73.8 | ||||||||||||||||||||||
Deferred Charges and Other Noncurrent Assets | Deferred Charges and Other Noncurrent Assets | 363.3 | 578.3 | Deferred Charges and Other Noncurrent Assets | 262.7 | 578.3 | ||||||||||||||||||||||
TOTAL OTHER NONCURRENT ASSETS | TOTAL OTHER NONCURRENT ASSETS | 841.2 | 979.4 | TOTAL OTHER NONCURRENT ASSETS | 744.8 | 979.4 | ||||||||||||||||||||||
TOTAL ASSETS | TOTAL ASSETS | $ | 10,270.7 | $ | 10,003.1 | TOTAL ASSETS | $ | 10,348.5 | $ | 10,003.1 | ||||||||||||||||||
June 30, | December 31, | September 30, | December 31, | |||||||||||||||||||||||||
2023 | 2022 | 2023 | 2022 | |||||||||||||||||||||||||
(in millions) | (in millions) | |||||||||||||||||||||||||||
CURRENT LIABILITIES | CURRENT LIABILITIES | CURRENT LIABILITIES | ||||||||||||||||||||||||||
Advances from Affiliates | Advances from Affiliates | $ | 72.3 | $ | 172.9 | Advances from Affiliates | $ | 113.3 | $ | 172.9 | ||||||||||||||||||
Accounts Payable: | Accounts Payable: | Accounts Payable: | ||||||||||||||||||||||||||
General | General | 322.6 | 337.3 | General | 308.5 | 337.3 | ||||||||||||||||||||||
Affiliated Companies | Affiliated Companies | 153.5 | 126.1 | Affiliated Companies | 151.0 | 126.1 | ||||||||||||||||||||||
Long-term Debt Due Within One Year – Nonaffiliated | Long-term Debt Due Within One Year – Nonaffiliated | — | 0.1 | Long-term Debt Due Within One Year – Nonaffiliated | — | 0.1 | ||||||||||||||||||||||
Risk Management Liabilities | Risk Management Liabilities | 6.3 | 1.8 | Risk Management Liabilities | 5.7 | 1.8 | ||||||||||||||||||||||
Customer Deposits | Customer Deposits | 59.5 | 96.5 | Customer Deposits | 59.2 | 96.5 | ||||||||||||||||||||||
Accrued Taxes | Accrued Taxes | 441.8 | 733.1 | Accrued Taxes | 370.9 | 733.1 | ||||||||||||||||||||||
Obligations Under Operating Leases | Obligations Under Operating Leases | 13.5 | 13.5 | Obligations Under Operating Leases | 13.5 | 13.5 | ||||||||||||||||||||||
Other Current Liabilities | Other Current Liabilities | 158.5 | 154.2 | Other Current Liabilities | 204.7 | 154.2 | ||||||||||||||||||||||
TOTAL CURRENT LIABILITIES | TOTAL CURRENT LIABILITIES | 1,228.0 | 1,635.5 | TOTAL CURRENT LIABILITIES | 1,226.8 | 1,635.5 | ||||||||||||||||||||||
NONCURRENT LIABILITIES | NONCURRENT LIABILITIES | NONCURRENT LIABILITIES | ||||||||||||||||||||||||||
Long-term Debt – Nonaffiliated | Long-term Debt – Nonaffiliated | 3,365.6 | 2,970.2 | Long-term Debt – Nonaffiliated | 3,366.2 | 2,970.2 | ||||||||||||||||||||||
Long-term Risk Management Liabilities | Long-term Risk Management Liabilities | 47.7 | 37.9 | Long-term Risk Management Liabilities | 45.9 | 37.9 | ||||||||||||||||||||||
Deferred Income Taxes | Deferred Income Taxes | 1,123.4 | 1,101.1 | Deferred Income Taxes | 1,155.5 | 1,101.1 | ||||||||||||||||||||||
Regulatory Liabilities and Deferred Investment Tax Credits | Regulatory Liabilities and Deferred Investment Tax Credits | 992.6 | 1,044.0 | Regulatory Liabilities and Deferred Investment Tax Credits | 976.8 | 1,044.0 | ||||||||||||||||||||||
Obligations Under Operating Leases | Obligations Under Operating Leases | 57.8 | 60.3 | Obligations Under Operating Leases | 55.6 | 60.3 | ||||||||||||||||||||||
Deferred Credits and Other Noncurrent Liabilities | Deferred Credits and Other Noncurrent Liabilities | 46.8 | 66.0 | Deferred Credits and Other Noncurrent Liabilities | 32.4 | 66.0 | ||||||||||||||||||||||
TOTAL NONCURRENT LIABILITIES | TOTAL NONCURRENT LIABILITIES | 5,633.9 | 5,279.5 | TOTAL NONCURRENT LIABILITIES | 5,632.4 | 5,279.5 | ||||||||||||||||||||||
TOTAL LIABILITIES | TOTAL LIABILITIES | 6,861.9 | 6,915.0 | TOTAL LIABILITIES | 6,859.2 | 6,915.0 | ||||||||||||||||||||||
Rate Matters (Note 4) | Rate Matters (Note 4) | Rate Matters (Note 4) | ||||||||||||||||||||||||||
Commitments and Contingencies (Note 5) | Commitments and Contingencies (Note 5) | Commitments and Contingencies (Note 5) | ||||||||||||||||||||||||||
COMMON SHAREHOLDER’S EQUITY | COMMON SHAREHOLDER’S EQUITY | COMMON SHAREHOLDER’S EQUITY | ||||||||||||||||||||||||||
Common Stock –No 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 | 1,012.8 | 837.8 | Paid-in Capital | 1,012.8 | 837.8 | ||||||||||||||||||||||
Retained Earnings | Retained Earnings | 2,074.8 | 1,929.1 | Retained Earnings | 2,155.3 | 1,929.1 | ||||||||||||||||||||||
TOTAL COMMON SHAREHOLDER’S EQUITY | TOTAL COMMON SHAREHOLDER’S EQUITY | 3,408.8 | 3,088.1 | TOTAL COMMON SHAREHOLDER’S EQUITY | 3,489.3 | 3,088.1 | ||||||||||||||||||||||
TOTAL LIABILITIES AND COMMON SHAREHOLDER’S EQUITY | TOTAL LIABILITIES AND COMMON SHAREHOLDER’S EQUITY | $ | 10,270.7 | $ | 10,003.1 | TOTAL LIABILITIES AND COMMON SHAREHOLDER’S EQUITY | $ | 10,348.5 | $ | 10,003.1 | ||||||||||||||||||
Six Months Ended June 30, | Nine Months Ended September 30, | |||||||||||||||||||||||||||
2023 | 2022 | 2023 | 2022 | |||||||||||||||||||||||||
OPERATING ACTIVITIES | OPERATING ACTIVITIES | OPERATING ACTIVITIES | ||||||||||||||||||||||||||
Net Income | Net Income | $ | 145.7 | $ | 158.0 | Net Income | $ | 226.2 | $ | 229.9 | ||||||||||||||||||
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 | 143.4 | 146.2 | Depreciation and Amortization | 224.7 | 216.9 | ||||||||||||||||||||||
Deferred Income Taxes | Deferred Income Taxes | 7.1 | 13.8 | Deferred Income Taxes | 29.4 | 29.3 | ||||||||||||||||||||||
Allowance for Equity Funds Used During Construction | Allowance for Equity Funds Used During Construction | (5.7) | (6.4) | Allowance for Equity Funds Used During Construction | (11.3) | (10.3) | ||||||||||||||||||||||
Mark-to-Market of Risk Management Contracts | Mark-to-Market of Risk Management Contracts | 14.3 | (44.3) | Mark-to-Market of Risk Management Contracts | 11.6 | (49.6) | ||||||||||||||||||||||
Property Taxes | Property Taxes | 193.9 | 178.6 | Property Taxes | 282.4 | 264.7 | ||||||||||||||||||||||
Change in Other Noncurrent Assets | Change in Other Noncurrent Assets | (88.0) | (53.1) | Change in Other Noncurrent Assets | (95.5) | (19.7) | ||||||||||||||||||||||
Change in Other Noncurrent Liabilities | Change in Other Noncurrent Liabilities | (37.7) | 44.3 | Change in Other Noncurrent Liabilities | (47.7) | 82.5 | ||||||||||||||||||||||
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 | 8.2 | (35.8) | Accounts Receivable, Net | 4.3 | (27.0) | ||||||||||||||||||||||
Materials and Supplies | Materials and Supplies | (2.5) | (10.1) | Materials and Supplies | 5.3 | (11.6) | ||||||||||||||||||||||
Accounts Payable | Accounts Payable | 30.8 | 78.2 | Accounts Payable | 1.8 | 87.6 | ||||||||||||||||||||||
Customer Deposits | Customer Deposits | (37.0) | 142.5 | Customer Deposits | (37.3) | 37.4 | ||||||||||||||||||||||
Accrued Taxes, Net | Accrued Taxes, Net | (289.9) | (246.8) | Accrued Taxes, Net | (367.3) | (344.5) | ||||||||||||||||||||||
Other Current Assets | Other Current Assets | 2.3 | 12.2 | Other Current Assets | (2.3) | 11.3 | ||||||||||||||||||||||
Other Current Liabilities | Other Current Liabilities | (15.3) | 35.6 | Other Current Liabilities | 0.4 | 25.7 | ||||||||||||||||||||||
Net Cash Flows from Operating Activities | Net Cash Flows from Operating Activities | 69.6 | 412.9 | Net Cash Flows from Operating Activities | 224.7 | 522.6 | ||||||||||||||||||||||
INVESTING ACTIVITIES | INVESTING ACTIVITIES | INVESTING ACTIVITIES | ||||||||||||||||||||||||||
Construction Expenditures | Construction Expenditures | (547.7) | (376.4) | Construction Expenditures | (769.0) | (600.6) | ||||||||||||||||||||||
Change in Advances to Affiliates, Net | Change in Advances to Affiliates, Net | — | (14.0) | Change in Advances to Affiliates, Net | — | 42.0 | ||||||||||||||||||||||
Other Investing Activities | Other Investing Activities | 11.1 | 12.6 | Other Investing Activities | 33.9 | 21.3 | ||||||||||||||||||||||
Net Cash Flows Used for Investing Activities | Net Cash Flows Used for Investing Activities | (536.6) | (377.8) | Net Cash Flows Used for Investing Activities | (735.1) | (537.3) | ||||||||||||||||||||||
FINANCING ACTIVITIES | FINANCING ACTIVITIES | FINANCING ACTIVITIES | ||||||||||||||||||||||||||
Capital Contribution from Parent | Capital Contribution from Parent | 175.0 | 0.7 | Capital Contribution from Parent | 175.0 | 1.0 | ||||||||||||||||||||||
Issuance of Long-term Debt – Nonaffiliated | Issuance of Long-term Debt – Nonaffiliated | 395.1 | — | Issuance of Long-term Debt – Nonaffiliated | 395.0 | — | ||||||||||||||||||||||
Change in Advances from Affiliates, Net | Change in Advances from Affiliates, Net | (100.6) | — | Change in Advances from Affiliates, Net | (59.6) | 68.8 | ||||||||||||||||||||||
Retirement of Long-term Debt – Nonaffiliated | Retirement of Long-term Debt – Nonaffiliated | (0.6) | (0.1) | Retirement of Long-term Debt – Nonaffiliated | (0.6) | (0.1) | ||||||||||||||||||||||
Principal Payments for Finance Lease Obligations | Principal Payments for Finance Lease Obligations | (2.4) | (2.4) | Principal Payments for Finance Lease Obligations | (3.7) | (3.6) | ||||||||||||||||||||||
Dividends Paid on Common Stock | Dividends Paid on Common Stock | — | (30.0) | Dividends Paid on Common Stock | — | (45.0) | ||||||||||||||||||||||
Other Financing Activities | Other Financing Activities | 0.6 | 0.6 | Other Financing Activities | 1.5 | 0.8 | ||||||||||||||||||||||
Net Cash Flows from (Used for) Financing Activities | 467.1 | (31.2) | ||||||||||||||||||||||||||
Net Cash Flows from Financing Activities | Net Cash Flows from Financing Activities | 507.6 | 21.9 | |||||||||||||||||||||||||
Net Increase in Cash and Cash Equivalents | 0.1 | 3.9 | ||||||||||||||||||||||||||
Net Increase (Decrease) in Cash and Cash Equivalents | Net Increase (Decrease) in Cash and Cash Equivalents | (2.8) | 7.2 | |||||||||||||||||||||||||
Cash and Cash Equivalents at Beginning of Period | Cash and Cash Equivalents at Beginning of Period | 9.6 | 3.0 | Cash and Cash Equivalents at Beginning of Period | 9.6 | 3.0 | ||||||||||||||||||||||
Cash and Cash Equivalents at End of Period | Cash and Cash Equivalents at End of Period | $ | 9.7 | $ | 6.9 | Cash and Cash Equivalents at End of Period | $ | 6.8 | $ | 10.2 | ||||||||||||||||||
SUPPLEMENTARY INFORMATION | SUPPLEMENTARY INFORMATION | SUPPLEMENTARY INFORMATION | ||||||||||||||||||||||||||
Cash Paid for Interest, Net of Capitalized Amounts | Cash Paid for Interest, Net of Capitalized Amounts | $ | 57.6 | $ | 56.8 | Cash Paid for Interest, Net of Capitalized Amounts | $ | 76.5 | $ | 75.8 | ||||||||||||||||||
Net Cash Paid for Income Taxes | Net Cash Paid for Income Taxes | 9.2 | 21.4 | Net Cash Paid for Income Taxes | 16.0 | 24.2 | ||||||||||||||||||||||
Noncash Acquisitions Under Finance Leases | Noncash Acquisitions Under Finance Leases | 2.1 | 1.2 | Noncash Acquisitions Under Finance Leases | 3.3 | 2.1 | ||||||||||||||||||||||
Construction Expenditures Included in Current Liabilities as of June 30, | 87.4 | 92.9 | ||||||||||||||||||||||||||
Construction Expenditures Included in Current Liabilities as of September 30, | Construction Expenditures Included in Current Liabilities as of September 30, | 99.6 | 108.3 | |||||||||||||||||||||||||
Three Months Ended | Six Months Ended | Three Months Ended | Nine Months Ended | |||||||||||||||||||||||||||||||||||||||||||
June 30, | June 30, | September 30, | September 30, | |||||||||||||||||||||||||||||||||||||||||||
2023 | 2022 | 2023 | 2022 | 2023 | 2022 | 2023 | 2022 | |||||||||||||||||||||||||||||||||||||||
(in millions of KWhs) | (in millions of KWhs) | |||||||||||||||||||||||||||||||||||||||||||||
Retail: | Retail: | Retail: | ||||||||||||||||||||||||||||||||||||||||||||
Residential | Residential | 1,358 | 1,469 | 2,746 | 3,027 | Residential | 2,197 | 2,293 | 4,943 | 5,320 | ||||||||||||||||||||||||||||||||||||
Commercial | Commercial | 1,291 | 1,309 | 2,395 | 2,429 | Commercial | 1,539 | 1,547 | 3,934 | 3,976 | ||||||||||||||||||||||||||||||||||||
Industrial | Industrial | 1,507 | 1,565 | 2,946 | 2,951 | Industrial | 1,557 | 1,616 | 4,503 | 4,567 | ||||||||||||||||||||||||||||||||||||
Miscellaneous | Miscellaneous | 317 | 333 | 592 | 616 | Miscellaneous | 373 | 377 | 965 | 993 | ||||||||||||||||||||||||||||||||||||
Total Retail | Total Retail | 4,473 | 4,676 | 8,679 | 9,023 | Total Retail | 5,666 | 5,833 | 14,345 | 14,856 | ||||||||||||||||||||||||||||||||||||
Wholesale | Wholesale | 46 | 262 | 73 | 605 | Wholesale | 59 | 55 | 132 | 660 | ||||||||||||||||||||||||||||||||||||
Total KWhs | Total KWhs | 4,519 | 4,938 | 8,752 | 9,628 | Total KWhs | 5,725 | 5,888 | 14,477 | 15,516 |
Three Months Ended | Six Months Ended | Three Months Ended | Nine Months Ended | |||||||||||||||||||||||||||||||||||||||||||
June 30, | June 30, | September 30, | September 30, | |||||||||||||||||||||||||||||||||||||||||||
2023 | 2022 | 2023 | 2022 | 2023 | 2022 | 2023 | 2022 | |||||||||||||||||||||||||||||||||||||||
(in degree days) | (in degree days) | |||||||||||||||||||||||||||||||||||||||||||||
Actual – Heating (a) | Actual – Heating (a) | 28 | 19 | 899 | 1,153 | Actual – Heating (a) | — | — | 899 | 1,153 | ||||||||||||||||||||||||||||||||||||
Normal – Heating (b) | Normal – Heating (b) | 45 | 45 | 1,100 | 1,085 | Normal – Heating (b) | — | — | 1,100 | 1,085 | ||||||||||||||||||||||||||||||||||||
Actual – Cooling (c) | Actual – Cooling (c) | 638 | 786 | 648 | 797 | Actual – Cooling (c) | 1,554 | 1,678 | 2,202 | 2,475 | ||||||||||||||||||||||||||||||||||||
Normal – Cooling (b) | Normal – Cooling (b) | 660 | 650 | 677 | 667 | Normal – Cooling (b) | 1,425 | 1,407 | 2,102 | 2,074 |
Public Service Company of Oklahoma | Public Service Company of Oklahoma | Public Service Company of Oklahoma | ||||||||||||||||||||||||||
Reconciliation of 2022 to 2023 Net Income | Reconciliation of 2022 to 2023 Net Income | Reconciliation of 2022 to 2023 Net Income | ||||||||||||||||||||||||||
(in millions) | (in millions) | (in millions) | ||||||||||||||||||||||||||
Three Months Ended June 30, | Six Months Ended June 30, | Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||||||||||||
2022 Net Income | 2022 Net Income | $ | 43.0 | $ | 48.8 | 2022 Net Income | $ | 106.9 | $ | 155.7 | ||||||||||||||||||
Changes in Gross Margin: | Changes in Gross Margin: | Changes in Gross Margin: | ||||||||||||||||||||||||||
Retail Margins (a) | Retail Margins (a) | 0.8 | 16.1 | Retail Margins (a) | 10.4 | 26.5 | ||||||||||||||||||||||
Transmission Revenues | Transmission Revenues | 0.3 | 1.9 | Transmission Revenues | 1.1 | 3.0 | ||||||||||||||||||||||
Other Revenues | Other Revenues | (0.5) | 0.6 | Other Revenues | — | 0.6 | ||||||||||||||||||||||
Total Change in Gross Margin | Total Change in Gross Margin | 0.6 | 18.6 | Total Change in Gross Margin | 11.5 | 30.1 | ||||||||||||||||||||||
Changes in Expenses and Other: | Changes in Expenses and Other: | Changes in Expenses and Other: | ||||||||||||||||||||||||||
Other Operation and Maintenance | Other Operation and Maintenance | 11.2 | 4.5 | Other Operation and Maintenance | 18.3 | 22.8 | ||||||||||||||||||||||
Depreciation and Amortization | Depreciation and Amortization | (4.4) | (12.8) | Depreciation and Amortization | (2.3) | (15.1) | ||||||||||||||||||||||
Taxes Other Than Income Taxes | Taxes Other Than Income Taxes | (1.2) | (4.3) | Taxes Other Than Income Taxes | (1.6) | (5.9) | ||||||||||||||||||||||
Interest Income | (2.4) | (3.1) | ||||||||||||||||||||||||||
Allowance for Equity Funds Used During Construction | 1.2 | 1.6 | ||||||||||||||||||||||||||
Other Income | Other Income | (0.3) | (1.8) | |||||||||||||||||||||||||
Non-Service Cost Components of Net Periodic Benefit Cost | Non-Service Cost Components of Net Periodic Benefit Cost | 0.3 | 0.8 | Non-Service Cost Components of Net Periodic Benefit Cost | 0.5 | 1.3 | ||||||||||||||||||||||
Interest Expense | Interest Expense | (5.5) | (11.8) | Interest Expense | (3.1) | (14.9) | ||||||||||||||||||||||
Total Change in Expenses and Other | Total Change in Expenses and Other | (0.8) | (25.1) | Total Change in Expenses and Other | 11.5 | (13.6) | ||||||||||||||||||||||
Income Tax Benefit | Income Tax Benefit | 8.2 | 6.4 | Income Tax Benefit | 9.5 | 15.9 | ||||||||||||||||||||||
2023 Net Income | 2023 Net Income | $ | 51.0 | $ | 48.7 | 2023 Net Income | $ | 139.4 | $ | 188.1 |
Three Months Ended | Six Months Ended | Three Months Ended | Nine Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||
June 30, | June 30, | September 30, | September 30, | |||||||||||||||||||||||||||||||||||||||||||||||||
2023 | 2022 | 2023 | 2022 | 2023 | 2022 | 2023 | 2022 | |||||||||||||||||||||||||||||||||||||||||||||
REVENUES | REVENUES | REVENUES | ||||||||||||||||||||||||||||||||||||||||||||||||||
Electric Generation, Transmission and Distribution | Electric Generation, Transmission and Distribution | $ | 472.4 | $ | 440.0 | $ | 887.2 | $ | 826.4 | Electric Generation, Transmission and Distribution | $ | 642.6 | $ | 606.5 | $ | 1,529.8 | $ | 1,432.9 | ||||||||||||||||||||||||||||||||||
Sales to AEP Affiliates | Sales to AEP Affiliates | 0.1 | 0.8 | 0.8 | 1.4 | Sales to AEP Affiliates | 0.2 | 0.7 | 1.0 | 2.1 | ||||||||||||||||||||||||||||||||||||||||||
Other Revenues | Other Revenues | 2.2 | 2.1 | 3.7 | 2.7 | Other Revenues | 1.4 | 1.0 | 5.1 | 3.7 | ||||||||||||||||||||||||||||||||||||||||||
TOTAL REVENUES | TOTAL REVENUES | 474.7 | 442.9 | 891.7 | 830.5 | TOTAL REVENUES | 644.2 | 608.2 | 1,535.9 | 1,438.7 | ||||||||||||||||||||||||||||||||||||||||||
EXPENSES | EXPENSES | EXPENSES | ||||||||||||||||||||||||||||||||||||||||||||||||||
Purchased Electricity, Fuel and Other Consumables Used for Electric Generation | Purchased Electricity, Fuel and Other Consumables Used for Electric Generation | 223.1 | 191.9 | 423.2 | 380.6 | Purchased Electricity, Fuel and Other Consumables Used for Electric Generation | 318.1 | 293.6 | 741.3 | 674.2 | ||||||||||||||||||||||||||||||||||||||||||
Other Operation | Other Operation | 87.5 | 95.9 | 179.6 | 184.7 | Other Operation | 103.9 | 116.3 | 283.5 | 301.0 | ||||||||||||||||||||||||||||||||||||||||||
Maintenance | Maintenance | 28.5 | 31.3 | 57.3 | 56.7 | Maintenance | 25.4 | 31.3 | 82.7 | 88.0 | ||||||||||||||||||||||||||||||||||||||||||
Depreciation and Amortization | Depreciation and Amortization | 64.9 | 60.5 | 126.0 | 113.2 | Depreciation and Amortization | 61.8 | 59.5 | 187.8 | 172.7 | ||||||||||||||||||||||||||||||||||||||||||
Taxes Other Than Income Taxes | Taxes Other Than Income Taxes | 15.0 | 13.8 | 32.3 | 28.0 | Taxes Other Than Income Taxes | 17.2 | 15.6 | 49.5 | 43.6 | ||||||||||||||||||||||||||||||||||||||||||
TOTAL EXPENSES | TOTAL EXPENSES | 419.0 | 393.4 | 818.4 | 763.2 | TOTAL EXPENSES | 526.4 | 516.3 | 1,344.8 | 1,279.5 | ||||||||||||||||||||||||||||||||||||||||||
OPERATING INCOME | OPERATING INCOME | 55.7 | 49.5 | 73.3 | 67.3 | OPERATING INCOME | 117.8 | 91.9 | 191.1 | 159.2 | ||||||||||||||||||||||||||||||||||||||||||
Other Income (Expense): | Other Income (Expense): | Other Income (Expense): | ||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Income | 0.1 | 2.5 | 1.1 | 4.2 | ||||||||||||||||||||||||||||||||||||||||||||||||
Allowance for Equity Funds Used During Construction | 1.4 | 0.2 | 2.9 | 1.3 | ||||||||||||||||||||||||||||||||||||||||||||||||
Other Income | Other Income | 2.7 | 3.0 | 6.7 | 8.5 | |||||||||||||||||||||||||||||||||||||||||||||||
Non-Service Cost Components of Net Periodic Benefit Cost | Non-Service Cost Components of Net Periodic Benefit Cost | 3.5 | 3.2 | 7.1 | 6.3 | Non-Service Cost Components of Net Periodic Benefit Cost | 3.6 | 3.1 | 10.7 | 9.4 | ||||||||||||||||||||||||||||||||||||||||||
Interest Expense | Interest Expense | (26.8) | (21.3) | (52.0) | (40.2) | Interest Expense | (25.5) | (22.4) | (77.5) | (62.6) | ||||||||||||||||||||||||||||||||||||||||||
INCOME BEFORE INCOME TAX BENEFIT | INCOME BEFORE INCOME TAX BENEFIT | 33.9 | 34.1 | 32.4 | 38.9 | INCOME BEFORE INCOME TAX BENEFIT | 98.6 | 75.6 | 131.0 | 114.5 | ||||||||||||||||||||||||||||||||||||||||||
Income Tax Benefit | Income Tax Benefit | (17.1) | (8.9) | (16.3) | (9.9) | Income Tax Benefit | (40.8) | (31.3) | (57.1) | (41.2) | ||||||||||||||||||||||||||||||||||||||||||
NET INCOME | NET INCOME | $ | 51.0 | $ | 43.0 | $ | 48.7 | $ | 48.8 | NET INCOME | $ | 139.4 | $ | 106.9 | $ | 188.1 | $ | 155.7 | ||||||||||||||||||||||||||||||||||
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 | Six Months Ended | Three Months Ended | Nine Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||
June 30, | June 30, | September 30, | September 30, | |||||||||||||||||||||||||||||||||||||||||||||||||
2023 | 2022 | 2023 | 2022 | 2023 | 2022 | 2023 | 2022 | |||||||||||||||||||||||||||||||||||||||||||||
Net Income | Net Income | $ | 51.0 | $ | 43.0 | $ | 48.7 | $ | 48.8 | Net Income | $ | 139.4 | $ | 106.9 | $ | 188.1 | $ | 155.7 | ||||||||||||||||||||||||||||||||||
OTHER COMPREHENSIVE LOSS, NET OF TAXES | OTHER COMPREHENSIVE LOSS, NET OF TAXES | OTHER COMPREHENSIVE LOSS, NET OF TAXES | ||||||||||||||||||||||||||||||||||||||||||||||||||
Cash Flow Hedges, Net of Tax of $0 and $0 for the Three Months Ended June 30, 2023 and 2022, Respectively, and $(0.4) and $0 for the Six Months Ended June 30, 2023 and 2022, Respectively | — | — | (1.5) | — | ||||||||||||||||||||||||||||||||||||||||||||||||
Cash Flow Hedges, Net of Tax of $0 and $0 for the Three Months Ended September 30, 2023 and 2022, Respectively, and $(0.4) and $0 for the Nine Months Ended September 30, 2023 and 2022, Respectively | Cash Flow Hedges, Net of Tax of $0 and $0 for the Three Months Ended September 30, 2023 and 2022, Respectively, and $(0.4) and $0 for the Nine Months Ended September 30, 2023 and 2022, Respectively | — | — | (1.5) | — | |||||||||||||||||||||||||||||||||||||||||||||||
TOTAL COMPREHENSIVE INCOME | TOTAL COMPREHENSIVE INCOME | $ | 51.0 | $ | 43.0 | $ | 47.2 | $ | 48.8 | TOTAL COMPREHENSIVE INCOME | $ | 139.4 | $ | 106.9 | $ | 186.6 | $ | 155.7 | ||||||||||||||||||||||||||||||||||
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, 2021 | TOTAL COMMON SHAREHOLDER'S EQUITY – DECEMBER 31, 2021 | $ | 157.2 | $ | 1,039.0 | $ | 1,095.4 | $ | — | $ | 2,291.6 | TOTAL COMMON SHAREHOLDER'S EQUITY – DECEMBER 31, 2021 | $ | 157.2 | $ | 1,039.0 | $ | 1,095.4 | $ | — | $ | 2,291.6 | ||||||||||||||||||||||||||||||||||||||||||
Net Income | Net Income | 5.8 | 5.8 | Net Income | 5.8 | 5.8 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
TOTAL COMMON SHAREHOLDER'S EQUITY – MARCH 31, 2022 | TOTAL COMMON SHAREHOLDER'S EQUITY – MARCH 31, 2022 | 157.2 | 1,039.0 | 1,101.2 | — | 2,297.4 | TOTAL COMMON SHAREHOLDER'S EQUITY – MARCH 31, 2022 | 157.2 | 1,039.0 | 1,101.2 | — | 2,297.4 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Capital Contribution from Parent | Capital Contribution from Parent | 2.2 | 2.2 | Capital Contribution from Parent | 2.2 | 2.2 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net Income | Net Income | 43.0 | 43.0 | Net Income | 43.0 | 43.0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
TOTAL COMMON SHAREHOLDER'S EQUITY – JUNE 30, 2022 | TOTAL COMMON SHAREHOLDER'S EQUITY – JUNE 30, 2022 | $ | 157.2 | $ | 1,041.2 | $ | 1,144.2 | $ | — | $ | 2,342.6 | TOTAL COMMON SHAREHOLDER'S EQUITY – JUNE 30, 2022 | 157.2 | 1,041.2 | 1,144.2 | — | 2,342.6 | |||||||||||||||||||||||||||||||||||||||||||||||
Capital Contribution from Parent | Capital Contribution from Parent | 1.1 | 1.1 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common Stock Dividends | Common Stock Dividends | (20.0) | (20.0) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net Income | Net Income | 106.9 | 106.9 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
TOTAL COMMON SHAREHOLDER'S EQUITY – SEPTEMBER 30, 2022 | TOTAL COMMON SHAREHOLDER'S EQUITY – SEPTEMBER 30, 2022 | $ | 157.2 | $ | 1,042.3 | $ | 1,231.1 | $ | — | $ | 2,430.6 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
TOTAL COMMON SHAREHOLDER'S EQUITY – DECEMBER 31, 2022 | TOTAL COMMON SHAREHOLDER'S EQUITY – DECEMBER 31, 2022 | $ | 157.2 | $ | 1,042.6 | $ | 1,218.0 | $ | 1.3 | $ | 2,419.1 | TOTAL COMMON SHAREHOLDER'S EQUITY – DECEMBER 31, 2022 | $ | 157.2 | $ | 1,042.6 | $ | 1,218.0 | $ | 1.3 | $ | 2,419.1 | ||||||||||||||||||||||||||||||||||||||||||
Common Stock Dividends | Common Stock Dividends | (17.5) | (17.5) | Common Stock Dividends | (17.5) | (17.5) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net Loss | Net Loss | (2.3) | (2.3) | Net Loss | (2.3) | (2.3) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Comprehensive Loss | Other Comprehensive Loss | (1.5) | (1.5) | Other Comprehensive Loss | (1.5) | (1.5) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
TOTAL COMMON SHAREHOLDER'S EQUITY – MARCH 31, 2023 | TOTAL COMMON SHAREHOLDER'S EQUITY – MARCH 31, 2023 | 157.2 | 1,042.6 | 1,198.2 | (0.2) | 2,397.8 | TOTAL COMMON SHAREHOLDER'S EQUITY – MARCH 31, 2023 | 157.2 | 1,042.6 | 1,198.2 | (0.2) | 2,397.8 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Return of Capital to Parent | Return of Capital to Parent | (2.5) | (2.5) | Return of Capital to Parent | (2.5) | (2.5) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net Income | Net Income | 51.0 | 51.0 | Net Income | 51.0 | 51.0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
TOTAL COMMON SHAREHOLDER'S EQUITY – JUNE 30, 2023 | TOTAL COMMON SHAREHOLDER'S EQUITY – JUNE 30, 2023 | $ | 157.2 | $ | 1,040.1 | $ | 1,249.2 | $ | (0.2) | $ | 2,446.3 | TOTAL COMMON SHAREHOLDER'S EQUITY – JUNE 30, 2023 | 157.2 | 1,040.1 | 1,249.2 | (0.2) | 2,446.3 | |||||||||||||||||||||||||||||||||||||||||||||||
Capital Contribution from Parent | Capital Contribution from Parent | 0.6 | 0.6 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common Stock Dividends | Common Stock Dividends | (17.5) | (17.5) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net Income | Net Income | 139.4 | 139.4 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
TOTAL COMMON SHAREHOLDER'S EQUITY – SEPTEMBER 30, 2023 | TOTAL COMMON SHAREHOLDER'S EQUITY – SEPTEMBER 30, 2023 | $ | 157.2 | $ | 1,040.7 | $ | 1,371.1 | $ | (0.2) | $ | 2,568.8 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
June 30, | December 31, | September 30, | December 31, | |||||||||||||||||||||||||
2023 | 2022 | 2023 | 2022 | |||||||||||||||||||||||||
CURRENT ASSETS | CURRENT ASSETS | CURRENT ASSETS | ||||||||||||||||||||||||||
Cash and Cash Equivalents | Cash and Cash Equivalents | $ | 4.6 | $ | 4.0 | Cash and Cash Equivalents | $ | 3.7 | $ | 4.0 | ||||||||||||||||||
Advances to Affiliates | Advances to Affiliates | 9.2 | — | |||||||||||||||||||||||||
Accounts Receivable: | Accounts Receivable: | Accounts Receivable: | ||||||||||||||||||||||||||
Customers | Customers | 80.5 | 70.1 | Customers | 78.8 | 70.1 | ||||||||||||||||||||||
Affiliated Companies | Affiliated Companies | 67.1 | 52.2 | Affiliated Companies | 31.9 | 52.2 | ||||||||||||||||||||||
Miscellaneous | Miscellaneous | 0.5 | 0.8 | Miscellaneous | 0.5 | 0.8 | ||||||||||||||||||||||
Total Accounts Receivable | Total Accounts Receivable | 148.1 | 123.1 | Total Accounts Receivable | 111.2 | 123.1 | ||||||||||||||||||||||
Fuel | Fuel | 20.6 | 11.6 | Fuel | 20.5 | 11.6 | ||||||||||||||||||||||
Materials and Supplies | Materials and Supplies | 105.8 | 111.1 | Materials and Supplies | 114.9 | 111.1 | ||||||||||||||||||||||
Risk Management Assets | Risk Management Assets | 44.8 | 25.3 | Risk Management Assets | 28.2 | 25.3 | ||||||||||||||||||||||
Accrued Tax Benefits | Accrued Tax Benefits | 39.0 | 16.1 | Accrued Tax Benefits | 61.3 | 16.1 | ||||||||||||||||||||||
Regulatory Asset for Under-Recovered Fuel Costs | Regulatory Asset for Under-Recovered Fuel Costs | 178.7 | 178.7 | Regulatory Asset for Under-Recovered Fuel Costs | 168.2 | 178.7 | ||||||||||||||||||||||
Prepayments and Other Current Assets | Prepayments and Other Current Assets | 22.8 | 21.6 | Prepayments and Other Current Assets | 35.2 | 21.6 | ||||||||||||||||||||||
TOTAL CURRENT ASSETS | TOTAL CURRENT ASSETS | 564.4 | 491.5 | TOTAL CURRENT ASSETS | 552.4 | 491.5 | ||||||||||||||||||||||
PROPERTY, PLANT AND EQUIPMENT | PROPERTY, PLANT AND EQUIPMENT | PROPERTY, PLANT AND EQUIPMENT | ||||||||||||||||||||||||||
Electric: | Electric: | Electric: | ||||||||||||||||||||||||||
Generation | Generation | 2,675.7 | 2,394.8 | Generation | 2,683.7 | 2,394.8 | ||||||||||||||||||||||
Transmission | Transmission | 1,182.7 | 1,164.4 | Transmission | 1,197.1 | 1,164.4 | ||||||||||||||||||||||
Distribution | Distribution | 3,309.0 | 3,216.4 | Distribution | 3,357.9 | 3,216.4 | ||||||||||||||||||||||
Other Property, Plant and Equipment | Other Property, Plant and Equipment | 492.7 | 469.3 | Other Property, Plant and Equipment | 498.8 | 469.3 | ||||||||||||||||||||||
Construction Work in Progress | Construction Work in Progress | 295.2 | 219.3 | Construction Work in Progress | 337.9 | 219.3 | ||||||||||||||||||||||
Total Property, Plant and Equipment | Total Property, Plant and Equipment | 7,955.3 | 7,464.2 | Total Property, Plant and Equipment | 8,075.4 | 7,464.2 | ||||||||||||||||||||||
Accumulated Depreciation and Amortization | Accumulated Depreciation and Amortization | 2,011.0 | 1,837.7 | Accumulated Depreciation and Amortization | 2,050.3 | 1,837.7 | ||||||||||||||||||||||
TOTAL PROPERTY, PLANT AND EQUIPMENT – NET | TOTAL PROPERTY, PLANT AND EQUIPMENT – NET | 5,944.3 | 5,626.5 | TOTAL PROPERTY, PLANT AND EQUIPMENT – NET | 6,025.1 | 5,626.5 | ||||||||||||||||||||||
OTHER NONCURRENT ASSETS | OTHER NONCURRENT ASSETS | OTHER NONCURRENT ASSETS | ||||||||||||||||||||||||||
Regulatory Assets | Regulatory Assets | 570.0 | 653.7 | Regulatory Assets | 477.2 | 653.7 | ||||||||||||||||||||||
Employee Benefits and Pension Assets | Employee Benefits and Pension Assets | 70.0 | 67.3 | Employee Benefits and Pension Assets | 71.4 | 67.3 | ||||||||||||||||||||||
Operating Lease Assets | Operating Lease Assets | 114.9 | 106.1 | Operating Lease Assets | 114.0 | 106.1 | ||||||||||||||||||||||
Deferred Charges and Other Noncurrent Assets | Deferred Charges and Other Noncurrent Assets | 50.4 | 20.8 | Deferred Charges and Other Noncurrent Assets | 32.1 | 20.8 | ||||||||||||||||||||||
TOTAL OTHER NONCURRENT ASSETS | TOTAL OTHER NONCURRENT ASSETS | 805.3 | 847.9 | TOTAL OTHER NONCURRENT ASSETS | 694.7 | 847.9 | ||||||||||||||||||||||
TOTAL ASSETS | TOTAL ASSETS | $ | 7,314.0 | $ | 6,965.9 | TOTAL ASSETS | $ | 7,272.2 | $ | 6,965.9 | ||||||||||||||||||
June 30, | December 31, | September 30, | December 31, | |||||||||||||||||||||||||
2023 | 2022 | 2023 | 2022 | |||||||||||||||||||||||||
(in millions) | (in millions) | |||||||||||||||||||||||||||
CURRENT LIABILITIES | CURRENT LIABILITIES | CURRENT LIABILITIES | ||||||||||||||||||||||||||
Advances from Affiliates | Advances from Affiliates | $ | 68.1 | $ | 364.2 | Advances from Affiliates | $ | — | $ | 364.2 | ||||||||||||||||||
Accounts Payable: | Accounts Payable: | Accounts Payable: | ||||||||||||||||||||||||||
General | General | 284.2 | 202.9 | General | 233.3 | 202.9 | ||||||||||||||||||||||
Affiliated Companies | Affiliated Companies | 85.4 | 76.7 | Affiliated Companies | 46.1 | 76.7 | ||||||||||||||||||||||
Long-term Debt Due Within One Year – Nonaffiliated | Long-term Debt Due Within One Year – Nonaffiliated | 0.6 | 0.5 | Long-term Debt Due Within One Year – Nonaffiliated | 0.6 | 0.5 | ||||||||||||||||||||||
Customer Deposits | Customer Deposits | 60.0 | 59.0 | Customer Deposits | 61.0 | 59.0 | ||||||||||||||||||||||
Accrued Taxes | Accrued Taxes | 60.5 | 28.7 | Accrued Taxes | 64.4 | 28.7 | ||||||||||||||||||||||
Accrued Interest | Accrued Interest | 25.9 | 18.2 | |||||||||||||||||||||||||
Obligations Under Operating Leases | Obligations Under Operating Leases | 9.5 | 8.9 | Obligations Under Operating Leases | 10.7 | 8.9 | ||||||||||||||||||||||
Other Current Liabilities | Other Current Liabilities | 95.5 | 101.8 | Other Current Liabilities | 75.4 | 83.6 | ||||||||||||||||||||||
TOTAL CURRENT LIABILITIES | TOTAL CURRENT LIABILITIES | 663.8 | 842.7 | TOTAL CURRENT LIABILITIES | 517.4 | 842.7 | ||||||||||||||||||||||
NONCURRENT LIABILITIES | NONCURRENT LIABILITIES | NONCURRENT LIABILITIES | ||||||||||||||||||||||||||
Long-term Debt – Nonaffiliated | Long-term Debt – Nonaffiliated | 2,383.3 | 1,912.3 | Long-term Debt – Nonaffiliated | 2,383.6 | 1,912.3 | ||||||||||||||||||||||
Deferred Income Taxes | Deferred Income Taxes | 815.7 | 788.6 | Deferred Income Taxes | 797.5 | 788.6 | ||||||||||||||||||||||
Regulatory Liabilities and Deferred Investment Tax Credits | Regulatory Liabilities and Deferred Investment Tax Credits | 797.1 | 809.1 | Regulatory Liabilities and Deferred Investment Tax Credits | 787.0 | 809.1 | ||||||||||||||||||||||
Asset Retirement Obligations | Asset Retirement Obligations | 81.4 | 73.5 | Asset Retirement Obligations | 82.3 | 73.5 | ||||||||||||||||||||||
Obligations Under Operating Leases | Obligations Under Operating Leases | 108.4 | 99.3 | Obligations Under Operating Leases | 106.6 | 99.3 | ||||||||||||||||||||||
Deferred Credits and Other Noncurrent Liabilities | Deferred Credits and Other Noncurrent Liabilities | 18.0 | 21.3 | Deferred Credits and Other Noncurrent Liabilities | 29.0 | 21.3 | ||||||||||||||||||||||
TOTAL NONCURRENT LIABILITIES | TOTAL NONCURRENT LIABILITIES | 4,203.9 | 3,704.1 | TOTAL NONCURRENT LIABILITIES | 4,186.0 | 3,704.1 | ||||||||||||||||||||||
TOTAL LIABILITIES | TOTAL LIABILITIES | 4,867.7 | 4,546.8 | TOTAL LIABILITIES | 4,703.4 | 4,546.8 | ||||||||||||||||||||||
Rate Matters (Note 4) | Rate Matters (Note 4) | Rate Matters (Note 4) | ||||||||||||||||||||||||||
Commitments and Contingencies (Note 5) | Commitments and Contingencies (Note 5) | Commitments and Contingencies (Note 5) | ||||||||||||||||||||||||||
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 | 1,040.1 | 1,042.6 | Paid-in Capital | 1,040.7 | 1,042.6 | ||||||||||||||||||||||
Retained Earnings | Retained Earnings | 1,249.2 | 1,218.0 | Retained Earnings | 1,371.1 | 1,218.0 | ||||||||||||||||||||||
Accumulated Other Comprehensive Income (Loss) | Accumulated Other Comprehensive Income (Loss) | (0.2) | 1.3 | Accumulated Other Comprehensive Income (Loss) | (0.2) | 1.3 | ||||||||||||||||||||||
TOTAL COMMON SHAREHOLDER’S EQUITY | TOTAL COMMON SHAREHOLDER’S EQUITY | 2,446.3 | 2,419.1 | TOTAL COMMON SHAREHOLDER’S EQUITY | 2,568.8 | 2,419.1 | ||||||||||||||||||||||
TOTAL LIABILITIES AND COMMON SHAREHOLDER’S EQUITY | TOTAL LIABILITIES AND COMMON SHAREHOLDER’S EQUITY | $ | 7,314.0 | $ | 6,965.9 | TOTAL LIABILITIES AND COMMON SHAREHOLDER’S EQUITY | $ | 7,272.2 | $ | 6,965.9 | ||||||||||||||||||
Six Months Ended June 30, | Nine Months Ended September 30, | |||||||||||||||||||||||||||
2023 | 2022 | 2023 | 2022 | |||||||||||||||||||||||||
OPERATING ACTIVITIES | OPERATING ACTIVITIES | OPERATING ACTIVITIES | ||||||||||||||||||||||||||
Net Income | Net Income | $ | 48.7 | $ | 48.8 | Net Income | $ | 188.1 | $ | 155.7 | ||||||||||||||||||
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 | 126.0 | 113.2 | Depreciation and Amortization | 187.8 | 172.7 | ||||||||||||||||||||||
Deferred Income Taxes | Deferred Income Taxes | 13.1 | (20.4) | Deferred Income Taxes | (13.6) | (20.0) | ||||||||||||||||||||||
Allowance for Equity Funds Used During Construction | (2.9) | (1.3) | ||||||||||||||||||||||||||
Mark-to-Market of Risk Management Contracts | Mark-to-Market of Risk Management Contracts | (19.3) | (56.2) | Mark-to-Market of Risk Management Contracts | (0.2) | (36.1) | ||||||||||||||||||||||
Property Taxes | Property Taxes | (27.9) | (24.4) | Property Taxes | (14.0) | (12.2) | ||||||||||||||||||||||
Deferred Fuel Over/Under-Recovery, Net | Deferred Fuel Over/Under-Recovery, Net | 146.3 | (124.2) | Deferred Fuel Over/Under-Recovery, Net | 263.3 | 454.0 | ||||||||||||||||||||||
Change in Other Regulatory Assets | Change in Other Regulatory Assets | (57.3) | 4.8 | Change in Other Regulatory Assets | (66.1) | 3.7 | ||||||||||||||||||||||
Change in Other Noncurrent Assets | Change in Other Noncurrent Assets | (22.7) | (12.2) | Change in Other Noncurrent Assets | (33.1) | (21.8) | ||||||||||||||||||||||
Change in Other Noncurrent Liabilities | Change in Other Noncurrent Liabilities | (0.6) | 10.4 | Change in Other Noncurrent Liabilities | 11.0 | 15.8 | ||||||||||||||||||||||
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 | (25.0) | (30.6) | Accounts Receivable, Net | 11.9 | (66.3) | ||||||||||||||||||||||
Fuel, Materials and Supplies | Fuel, Materials and Supplies | (2.6) | (10.8) | Fuel, Materials and Supplies | (11.6) | (25.8) | ||||||||||||||||||||||
Accounts Payable | Accounts Payable | 75.2 | 123.7 | Accounts Payable | (19.5) | 150.8 | ||||||||||||||||||||||
Accrued Taxes, Net | Accrued Taxes, Net | 8.9 | 23.9 | Accrued Taxes, Net | (9.5) | (20.9) | ||||||||||||||||||||||
Other Current Assets | Other Current Assets | 5.3 | (16.8) | Other Current Assets | (3.0) | (19.2) | ||||||||||||||||||||||
Other Current Liabilities | Other Current Liabilities | (8.4) | 9.9 | Other Current Liabilities | (10.8) | 11.0 | ||||||||||||||||||||||
Net Cash Flows from Operating Activities | Net Cash Flows from Operating Activities | 256.8 | 37.8 | Net Cash Flows from Operating Activities | 480.7 | 741.4 | ||||||||||||||||||||||
INVESTING ACTIVITIES | INVESTING ACTIVITIES | INVESTING ACTIVITIES | ||||||||||||||||||||||||||
Construction Expenditures | Construction Expenditures | (263.6) | (200.2) | Construction Expenditures | (401.1) | (322.6) | ||||||||||||||||||||||
Change in Advances to Affiliates, Net | Change in Advances to Affiliates, Net | (9.2) | — | |||||||||||||||||||||||||
Acquisitions of Renewable Energy Facilities | Acquisitions of Renewable Energy Facilities | (145.7) | (549.3) | Acquisitions of Renewable Energy Facilities | (145.7) | (549.3) | ||||||||||||||||||||||
Other Investing Activities | Other Investing Activities | 1.1 | 2.3 | Other Investing Activities | 8.8 | 2.9 | ||||||||||||||||||||||
Net Cash Flows Used for Investing Activities | Net Cash Flows Used for Investing Activities | (408.2) | (747.2) | Net Cash Flows Used for Investing Activities | (547.2) | (869.0) | ||||||||||||||||||||||
FINANCING ACTIVITIES | FINANCING ACTIVITIES | FINANCING ACTIVITIES | ||||||||||||||||||||||||||
Capital Contribution from Parent | Capital Contribution from Parent | — | 2.2 | Capital Contribution from Parent | 0.6 | 3.3 | ||||||||||||||||||||||
Return of Capital to Parent | Return of Capital to Parent | (2.5) | — | Return of Capital to Parent | (2.5) | — | ||||||||||||||||||||||
Issuance of Long-term Debt – Nonaffiliated | Issuance of Long-term Debt – Nonaffiliated | 469.8 | 500.0 | Issuance of Long-term Debt – Nonaffiliated | 469.8 | 499.7 | ||||||||||||||||||||||
Change in Advances from Affiliates, Net | Change in Advances from Affiliates, Net | (296.1) | 211.1 | Change in Advances from Affiliates, Net | (364.2) | 151.2 | ||||||||||||||||||||||
Retirement of Long-term Debt – Nonaffiliated | Retirement of Long-term Debt – Nonaffiliated | (0.3) | (0.3) | Retirement of Long-term Debt – Nonaffiliated | (0.4) | (500.4) | ||||||||||||||||||||||
Principal Payments for Finance Lease Obligations | Principal Payments for Finance Lease Obligations | (1.7) | (1.6) | Principal Payments for Finance Lease Obligations | (2.5) | (2.4) | ||||||||||||||||||||||
Dividends Paid on Common Stock | Dividends Paid on Common Stock | (17.5) | — | Dividends Paid on Common Stock | (35.0) | (20.0) | ||||||||||||||||||||||
Other Financing Activities | Other Financing Activities | 0.3 | 0.3 | Other Financing Activities | 0.4 | 0.4 | ||||||||||||||||||||||
Net Cash Flows from Financing Activities | Net Cash Flows from Financing Activities | 152.0 | 711.7 | Net Cash Flows from Financing Activities | 66.2 | 131.8 | ||||||||||||||||||||||
Net Increase in Cash and Cash Equivalents | 0.6 | 2.3 | ||||||||||||||||||||||||||
Net Increase (Decrease) in Cash and Cash Equivalents | Net Increase (Decrease) in Cash and Cash Equivalents | (0.3) | 4.2 | |||||||||||||||||||||||||
Cash and Cash Equivalents at Beginning of Period | Cash and Cash Equivalents at Beginning of Period | 4.0 | 1.3 | Cash and Cash Equivalents at Beginning of Period | 4.0 | 1.3 | ||||||||||||||||||||||
Cash and Cash Equivalents at End of Period | Cash and Cash Equivalents at End of Period | $ | 4.6 | $ | 3.6 | Cash and Cash Equivalents at End of Period | $ | 3.7 | $ | 5.5 | ||||||||||||||||||
SUPPLEMENTARY INFORMATION | SUPPLEMENTARY INFORMATION | SUPPLEMENTARY INFORMATION | ||||||||||||||||||||||||||
Cash Paid for Interest, Net of Capitalized Amounts | Cash Paid for Interest, Net of Capitalized Amounts | $ | 37.6 | $ | 38.1 | Cash Paid for Interest, Net of Capitalized Amounts | $ | 67.4 | $ | 63.1 | ||||||||||||||||||
Net Cash Paid (Received) for Income Taxes | Net Cash Paid (Received) for Income Taxes | (6.1) | 12.2 | Net Cash Paid (Received) for Income Taxes | (1.6) | 21.9 | ||||||||||||||||||||||
Noncash Acquisitions Under Finance Leases | Noncash Acquisitions Under Finance Leases | 1.2 | 1.1 | Noncash Acquisitions Under Finance Leases | 1.9 | 1.7 | ||||||||||||||||||||||
Construction Expenditures Included in Current Liabilities as of June 30, | 83.6 | 41.6 | ||||||||||||||||||||||||||
Construction Expenditures Included in Current Liabilities as of September 30, | Construction Expenditures Included in Current Liabilities as of September 30, | 91.0 | 50.1 | |||||||||||||||||||||||||
Three Months Ended | Six Months Ended | Three Months Ended | Nine Months Ended | |||||||||||||||||||||||||||||||||||||||||||
June 30, | June 30, | September 30, | September 30, | |||||||||||||||||||||||||||||||||||||||||||
2023 | 2022 | 2023 | 2022 | 2023 | 2022 | 2023 | 2022 | |||||||||||||||||||||||||||||||||||||||
(in millions of KWhs) | (in millions of KWhs) | |||||||||||||||||||||||||||||||||||||||||||||
Retail: | Retail: | Retail: | ||||||||||||||||||||||||||||||||||||||||||||
Residential | Residential | 1,371 | 1,502 | 2,722 | 3,138 | Residential | 2,180 | 2,019 | 4,902 | 5,157 | ||||||||||||||||||||||||||||||||||||
Commercial | Commercial | 1,412 | 1,488 | 2,580 | 2,754 | Commercial | 1,689 | 1,631 | 4,269 | 4,385 | ||||||||||||||||||||||||||||||||||||
Industrial | Industrial | 1,360 | 1,394 | 2,563 | 2,509 | Industrial | 1,313 | 1,367 | 3,876 | 3,876 | ||||||||||||||||||||||||||||||||||||
Miscellaneous | Miscellaneous | 19 | 20 | 36 | 38 | Miscellaneous | 17 | 17 | 53 | 55 | ||||||||||||||||||||||||||||||||||||
Total Retail | Total Retail | 4,162 | 4,404 | 7,901 | 8,439 | Total Retail | 5,199 | 5,034 | 13,100 | 13,473 | ||||||||||||||||||||||||||||||||||||
Wholesale | Wholesale | 1,288 | 1,809 | 2,558 | 3,568 | Wholesale | 1,668 | 1,744 | 4,226 | 5,312 | ||||||||||||||||||||||||||||||||||||
Total KWhs | Total KWhs | 5,450 | 6,213 | 10,459 | 12,007 | Total KWhs | 6,867 | 6,778 | 17,326 | 18,785 |
Three Months Ended | Six Months Ended | Three Months Ended | Nine Months Ended | |||||||||||||||||||||||||||||||||||||||||||
June 30, | June 30, | September 30, | September 30, | |||||||||||||||||||||||||||||||||||||||||||
2023 | 2022 | 2023 | 2022 | 2023 | 2022 | 2023 | 2022 | |||||||||||||||||||||||||||||||||||||||
(in degree days) | (in degree days) | |||||||||||||||||||||||||||||||||||||||||||||
Actual – Heating (a) | Actual – Heating (a) | 12 | 10 | 413 | 704 | Actual – Heating (a) | — | — | 413 | 704 | ||||||||||||||||||||||||||||||||||||
Normal – Heating (b) | Normal – Heating (b) | 25 | 26 | 730 | 726 | Normal – Heating (b) | — | — | 730 | 726 | ||||||||||||||||||||||||||||||||||||
Actual – Cooling (c) | Actual – Cooling (c) | 851 | 985 | 958 | 1,015 | Actual – Cooling (c) | 1,715 | 1,627 | 2,673 | 2,642 | ||||||||||||||||||||||||||||||||||||
Normal – Cooling (b) | Normal – Cooling (b) | 748 | 735 | 788 | 775 | Normal – Cooling (b) | 1,435 | 1,420 | 2,223 | 2,195 |
Reconciliation of 2022 to 2023 | Reconciliation of 2022 to 2023 | Reconciliation of 2022 to 2023 | ||||||||||||||||||||||||||
Earnings Attributable to SWEPCo Common Shareholder | Earnings Attributable to SWEPCo Common Shareholder | Earnings Attributable to SWEPCo Common Shareholder | ||||||||||||||||||||||||||
(in millions) | (in millions) | (in millions) | ||||||||||||||||||||||||||
Three Months Ended June 30, | Six Months Ended June 30, | Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||||||||||||
2022 Earnings Attributable to Common Shareholder | 2022 Earnings Attributable to Common Shareholder | $ | 76.7 | $ | 120.8 | 2022 Earnings Attributable to Common Shareholder | $ | 139.4 | $ | 260.2 | ||||||||||||||||||
Changes in Gross Margin: | Changes in Gross Margin: | Changes in Gross Margin: | ||||||||||||||||||||||||||
Retail Margins (a) | Retail Margins (a) | (7.8) | (3.4) | Retail Margins (a) | 24.2 | 23.0 | ||||||||||||||||||||||
Margins from Off-system Sales | Margins from Off-system Sales | (0.7) | (2.3) | Margins from Off-system Sales | (8.2) | (10.5) | ||||||||||||||||||||||
Transmission Revenues | Transmission Revenues | (2.2) | 5.1 | Transmission Revenues | (1.9) | 3.1 | ||||||||||||||||||||||
Other Revenues | Other Revenues | 2.0 | 1.9 | Other Revenues | (1.3) | (1.5) | ||||||||||||||||||||||
Total Change in Gross Margin | Total Change in Gross Margin | (8.7) | 1.3 | Total Change in Gross Margin | 12.8 | 14.1 | ||||||||||||||||||||||
Changes in Expenses and Other: | Changes in Expenses and Other: | Changes in Expenses and Other: | ||||||||||||||||||||||||||
Other Operation and Maintenance | Other Operation and Maintenance | 17.7 | 2.4 | Other Operation and Maintenance | 11.7 | 14.1 | ||||||||||||||||||||||
Depreciation and Amortization | Depreciation and Amortization | (7.6) | (10.2) | Depreciation and Amortization | (4.8) | (15.0) | ||||||||||||||||||||||
Taxes Other Than Income Taxes | Taxes Other Than Income Taxes | (1.2) | (7.5) | Taxes Other Than Income Taxes | (2.0) | (9.5) | ||||||||||||||||||||||
Interest Income | Interest Income | (2.3) | (0.5) | Interest Income | 1.4 | 0.9 | ||||||||||||||||||||||
Allowance for Equity Funds Used During Construction | Allowance for Equity Funds Used During Construction | 1.7 | 0.6 | Allowance for Equity Funds Used During Construction | 3.3 | 3.9 | ||||||||||||||||||||||
Non-Service Cost Components of Net Periodic Benefit Cost | Non-Service Cost Components of Net Periodic Benefit Cost | 0.3 | 0.6 | Non-Service Cost Components of Net Periodic Benefit Cost | 0.2 | 0.8 | ||||||||||||||||||||||
Interest Expense | Interest Expense | (6.4) | 1.7 | Interest Expense | (6.9) | (5.2) | ||||||||||||||||||||||
Total Change in Expenses and Other | Total Change in Expenses and Other | 2.2 | (12.9) | Total Change in Expenses and Other | 2.9 | (10.0) | ||||||||||||||||||||||
Income Tax Benefit | Income Tax Benefit | 9.0 | 10.8 | Income Tax Benefit | 3.9 | 14.7 | ||||||||||||||||||||||
Net Income Attributable to Noncontrolling Interest | Net Income Attributable to Noncontrolling Interest | 1.8 | 1.6 | Net Income Attributable to Noncontrolling Interest | (1.5) | 0.1 | ||||||||||||||||||||||
2023 Earnings Attributable to Common Shareholder | 2023 Earnings Attributable to Common Shareholder | $ | 81.0 | $ | 121.6 | 2023 Earnings Attributable to Common Shareholder | $ | 157.5 | $ | 279.1 |
Three Months Ended | Six Months Ended | Three Months Ended | Nine Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||
June 30, | June 30, | September 30, | September 30, | |||||||||||||||||||||||||||||||||||||||||||||||||
2023 | 2022 | 2023 | 2022 | 2023 | 2022 | 2023 | 2022 | |||||||||||||||||||||||||||||||||||||||||||||
REVENUES | REVENUES | REVENUES | ||||||||||||||||||||||||||||||||||||||||||||||||||
Electric Generation, Transmission and Distribution | Electric Generation, Transmission and Distribution | $ | 522.5 | $ | 520.7 | $ | 1,026.2 | $ | 1,004.9 | Electric Generation, Transmission and Distribution | $ | 639.8 | $ | 698.8 | $ | 1,666.0 | $ | 1,703.7 | ||||||||||||||||||||||||||||||||||
Sales to AEP Affiliates | Sales to AEP Affiliates | 14.5 | 15.5 | 26.2 | 25.5 | Sales to AEP Affiliates | 14.5 | 18.2 | 40.7 | 43.7 | ||||||||||||||||||||||||||||||||||||||||||
Other Revenues | Other Revenues | 0.8 | 0.4 | 1.3 | 1.0 | Other Revenues | 0.5 | 0.5 | 1.8 | 1.5 | ||||||||||||||||||||||||||||||||||||||||||
TOTAL REVENUES | TOTAL REVENUES | 537.8 | 536.6 | 1,053.7 | 1,031.4 | TOTAL REVENUES | 654.8 | 717.5 | 1,708.5 | 1,748.9 | ||||||||||||||||||||||||||||||||||||||||||
EXPENSES | EXPENSES | EXPENSES | ||||||||||||||||||||||||||||||||||||||||||||||||||
Purchased Electricity, Fuel and Other Consumables Used for Electric Generation | Purchased Electricity, Fuel and Other Consumables Used for Electric Generation | 189.9 | 180.0 | 399.2 | 378.2 | Purchased Electricity, Fuel and Other Consumables Used for Electric Generation | 215.4 | 290.9 | 614.6 | 669.1 | ||||||||||||||||||||||||||||||||||||||||||
Other Operation | Other Operation | 85.2 | 103.1 | 184.4 | 194.6 | Other Operation | 96.9 | 114.1 | 281.3 | 308.7 | ||||||||||||||||||||||||||||||||||||||||||
Maintenance | Maintenance | 45.0 | 44.8 | 82.7 | 74.9 | Maintenance | 38.4 | 32.9 | 121.1 | 107.8 | ||||||||||||||||||||||||||||||||||||||||||
Depreciation and Amortization | Depreciation and Amortization | 85.8 | 78.2 | 166.2 | 156.0 | Depreciation and Amortization | 100.6 | 95.8 | 266.8 | 251.8 | ||||||||||||||||||||||||||||||||||||||||||
Taxes Other Than Income Taxes | Taxes Other Than Income Taxes | 32.1 | 30.9 | 68.2 | 60.7 | Taxes Other Than Income Taxes | 36.2 | 34.2 | 104.4 | 94.9 | ||||||||||||||||||||||||||||||||||||||||||
TOTAL EXPENSES | TOTAL EXPENSES | 438.0 | 437.0 | 900.7 | 864.4 | TOTAL EXPENSES | 487.5 | 567.9 | 1,388.2 | 1,432.3 | ||||||||||||||||||||||||||||||||||||||||||
OPERATING INCOME | OPERATING INCOME | 99.8 | 99.6 | 153.0 | 167.0 | OPERATING INCOME | 167.3 | 149.6 | 320.3 | 316.6 | ||||||||||||||||||||||||||||||||||||||||||
Other Income (Expense): | Other Income (Expense): | Other Income (Expense): | ||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Income | Interest Income | 5.3 | 7.6 | 10.7 | 11.2 | Interest Income | 4.1 | 2.7 | 14.8 | 13.9 | ||||||||||||||||||||||||||||||||||||||||||
Allowance for Equity Funds Used During Construction | Allowance for Equity Funds Used During Construction | 2.5 | 0.8 | 3.0 | 2.4 | Allowance for Equity Funds Used During Construction | 4.3 | 1.0 | 7.3 | 3.4 | ||||||||||||||||||||||||||||||||||||||||||
Non-Service Cost Components of Net Periodic Benefit Cost | Non-Service Cost Components of Net Periodic Benefit Cost | 3.4 | 3.1 | 6.8 | 6.2 | Non-Service Cost Components of Net Periodic Benefit Cost | 3.4 | 3.2 | 10.2 | 9.4 | ||||||||||||||||||||||||||||||||||||||||||
Interest Expense | Interest Expense | (40.1) | (33.7) | (65.1) | (66.8) | Interest Expense | (42.1) | (35.2) | (107.2) | (102.0) | ||||||||||||||||||||||||||||||||||||||||||
INCOME BEFORE INCOME TAX BENEFIT AND EQUITY EARNINGS | INCOME BEFORE INCOME TAX BENEFIT AND EQUITY EARNINGS | 70.9 | 77.4 | 108.4 | 120.0 | INCOME BEFORE INCOME TAX BENEFIT AND EQUITY EARNINGS | 137.0 | 121.3 | 245.4 | 241.3 | ||||||||||||||||||||||||||||||||||||||||||
Income Tax Benefit | Income Tax Benefit | (10.0) | (1.0) | (14.0) | (3.2) | Income Tax Benefit | (21.7) | (17.8) | (35.7) | (21.0) | ||||||||||||||||||||||||||||||||||||||||||
Equity Earnings of Unconsolidated Subsidiary | Equity Earnings of Unconsolidated Subsidiary | 0.4 | 0.4 | 0.7 | 0.7 | Equity Earnings of Unconsolidated Subsidiary | 0.3 | 0.3 | 1.0 | 1.0 | ||||||||||||||||||||||||||||||||||||||||||
NET INCOME | NET INCOME | 81.3 | 78.8 | 123.1 | 123.9 | NET INCOME | 159.0 | 139.4 | 282.1 | 263.3 | ||||||||||||||||||||||||||||||||||||||||||
Net Income Attributable to Noncontrolling Interest | Net Income Attributable to Noncontrolling Interest | 0.3 | 2.1 | 1.5 | 3.1 | Net Income Attributable to Noncontrolling Interest | 1.5 | — | 3.0 | 3.1 | ||||||||||||||||||||||||||||||||||||||||||
EARNINGS ATTRIBUTABLE TO SWEPCo COMMON SHAREHOLDER | EARNINGS ATTRIBUTABLE TO SWEPCo COMMON SHAREHOLDER | $ | 81.0 | $ | 76.7 | $ | 121.6 | $ | 120.8 | EARNINGS ATTRIBUTABLE TO SWEPCo COMMON SHAREHOLDER | $ | 157.5 | $ | 139.4 | $ | 279.1 | $ | 260.2 | The common stock of SWEPCo is wholly-owned by Parent. | |||||||||||||||||||||||||||||||||
Three Months Ended | Six Months Ended | Three Months Ended | Nine Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||
June 30, | June 30, | September 30, | September 30, | |||||||||||||||||||||||||||||||||||||||||||||||||
2023 | 2022 | 2023 | 2022 | 2023 | 2022 | 2023 | 2022 | |||||||||||||||||||||||||||||||||||||||||||||
Net Income | Net Income | $ | 81.3 | $ | 78.8 | $ | 123.1 | $ | 123.9 | Net Income | $ | 159.0 | $ | 139.4 | $ | 282.1 | $ | 263.3 | ||||||||||||||||||||||||||||||||||
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 and $0 for the Three Months Ended June 30, 2023 and 2022, Respectively, and $0.1 and $0 for the Six Months Ended June 30, 2023 and 2022, Respectively | (0.1) | (0.1) | 0.3 | — | ||||||||||||||||||||||||||||||||||||||||||||||||
Amortization of Pension and OPEB Deferred Costs, Net of Tax of $(0.1) and $(0.1) for the Three Months Ended June 30, 2023 and 2022, Respectively, and $(0.2) and $(0.2) for the Six Months Ended June 30, 2023 and 2022, Respectively | (0.3) | (0.4) | (0.6) | (0.8) | ||||||||||||||||||||||||||||||||||||||||||||||||
Cash Flow Hedges, Net of Tax of $0 and $0 for the Three Months Ended September 30, 2023 and 2022, Respectively, and $0.1 and $0 for the Nine Months Ended September 30, 2023 and 2022, Respectively | Cash Flow Hedges, Net of Tax of $0 and $0 for the Three Months Ended September 30, 2023 and 2022, Respectively, and $0.1 and $0 for the Nine Months Ended September 30, 2023 and 2022, Respectively | — | — | 0.3 | — | |||||||||||||||||||||||||||||||||||||||||||||||
Amortization of Pension and OPEB Deferred Costs, Net of Tax of $(0.1) and $(0.1) for the Three Months Ended September 30, 2023 and 2022, Respectively, and $(0.3) and $(0.3) for the Nine Months Ended September 30, 2023 and 2022, Respectively | Amortization of Pension and OPEB Deferred Costs, Net of Tax of $(0.1) and $(0.1) for the Three Months Ended September 30, 2023 and 2022, Respectively, and $(0.3) and $(0.3) for the Nine Months Ended September 30, 2023 and 2022, Respectively | (0.4) | (0.4) | (1.0) | (1.2) | |||||||||||||||||||||||||||||||||||||||||||||||
TOTAL OTHER COMPREHENSIVE LOSS | TOTAL OTHER COMPREHENSIVE LOSS | (0.4) | (0.5) | (0.3) | (0.8) | TOTAL OTHER COMPREHENSIVE LOSS | (0.4) | (0.4) | (0.7) | (1.2) | ||||||||||||||||||||||||||||||||||||||||||
TOTAL COMPREHENSIVE INCOME | TOTAL COMPREHENSIVE INCOME | 80.9 | 78.3 | 122.8 | 123.1 | TOTAL COMPREHENSIVE INCOME | 158.6 | 139.0 | 281.4 | 262.1 | ||||||||||||||||||||||||||||||||||||||||||
Total Comprehensive Income Attributable to Noncontrolling Interest | Total Comprehensive Income Attributable to Noncontrolling Interest | 0.3 | 2.1 | 1.5 | 3.1 | Total Comprehensive Income Attributable to Noncontrolling Interest | 1.5 | — | 3.0 | 3.1 | ||||||||||||||||||||||||||||||||||||||||||
TOTAL COMPREHENSIVE INCOME ATTRIBUTABLE TO SWEPCo COMMON SHAREHOLDER | TOTAL COMPREHENSIVE INCOME ATTRIBUTABLE TO SWEPCo COMMON SHAREHOLDER | $ | 80.6 | $ | 76.2 | $ | 121.3 | $ | 120.0 | TOTAL COMPREHENSIVE INCOME ATTRIBUTABLE TO SWEPCo COMMON SHAREHOLDER | $ | 157.1 | $ | 139.0 | $ | 278.4 | $ | 259.0 | ||||||||||||||||||||||||||||||||||
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, 2021 | TOTAL EQUITY – DECEMBER 31, 2021 | $ | 0.1 | $ | 1,092.2 | $ | 2,050.9 | $ | 6.7 | $ | (0.1) | $ | 3,149.8 | TOTAL EQUITY – DECEMBER 31, 2021 | $ | 0.1 | $ | 1,092.2 | $ | 2,050.9 | $ | 6.7 | $ | (0.1) | $ | 3,149.8 | ||||||||||||||||||||||||||||||||||||||||||||
Capital Contribution from Parent | Capital Contribution from Parent | 350.0 | 350.0 | Capital Contribution from Parent | 350.0 | 350.0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common Stock Dividends – Nonaffiliated | Common Stock Dividends – Nonaffiliated | (0.8) | (0.8) | Common Stock Dividends – Nonaffiliated | (0.8) | (0.8) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net Income | Net Income | 44.1 | 1.0 | 45.1 | Net Income | 44.1 | 1.0 | 45.1 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Comprehensive Loss | Other Comprehensive Loss | (0.3) | (0.3) | Other Comprehensive Loss | (0.3) | (0.3) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
TOTAL EQUITY – MARCH 31, 2022 | TOTAL EQUITY – MARCH 31, 2022 | 0.1 | 1,442.2 | 2,095.0 | 6.4 | 0.1 | 3,543.8 | TOTAL EQUITY – MARCH 31, 2022 | 0.1 | 1,442.2 | 2,095.0 | 6.4 | 0.1 | 3,543.8 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Capital Contribution from Parent | Capital Contribution from Parent | 2.2 | 2.2 | Capital Contribution from Parent | 2.2 | 2.2 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common Stock Dividends | Common Stock Dividends | (12.5) | (12.5) | Common Stock Dividends | (12.5) | (12.5) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common Stock Dividends – Nonaffiliated | Common Stock Dividends – Nonaffiliated | (0.7) | (0.7) | Common Stock Dividends – Nonaffiliated | (0.7) | (0.7) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net Income | Net Income | 76.7 | 2.1 | 78.8 | Net Income | 76.7 | 2.1 | 78.8 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Comprehensive Loss | Other Comprehensive Loss | (0.5) | (0.5) | Other Comprehensive Loss | (0.5) | (0.5) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
TOTAL EQUITY – JUNE 30, 2022 | TOTAL EQUITY – JUNE 30, 2022 | $ | 0.1 | $ | 1,444.4 | $ | 2,159.2 | $ | 5.9 | $ | 1.5 | $ | 3,611.1 | TOTAL EQUITY – JUNE 30, 2022 | 0.1 | 1,444.4 | 2,159.2 | 5.9 | 1.5 | 3,611.1 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Capital Contribution from Parent | Capital Contribution from Parent | 1.1 | 1.1 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common Stock Dividends | Common Stock Dividends | (45.0) | (45.0) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common Stock Dividends – Nonaffiliated | Common Stock Dividends – Nonaffiliated | (1.1) | (1.1) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net Income | Net Income | 139.4 | — | 139.4 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Comprehensive Loss | Other Comprehensive Loss | (0.4) | (0.4) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
TOTAL EQUITY – SEPTEMBER 30, 2022 | TOTAL EQUITY – SEPTEMBER 30, 2022 | $ | 0.1 | $ | 1,445.5 | $ | 2,253.6 | $ | 5.5 | $ | 0.4 | $ | 3,705.1 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
TOTAL EQUITY – DECEMBER 31, 2022 | TOTAL EQUITY – DECEMBER 31, 2022 | $ | 0.1 | $ | 1,442.2 | $ | 2,236.0 | $ | (4.2) | $ | 0.7 | $ | 3,674.8 | TOTAL EQUITY – DECEMBER 31, 2022 | $ | 0.1 | $ | 1,442.2 | $ | 2,236.0 | $ | (4.2) | $ | 0.7 | $ | 3,674.8 | ||||||||||||||||||||||||||||||||||||||||||||
Capital Contribution from Parent | Capital Contribution from Parent | 50.0 | 50.0 | Capital Contribution from Parent | 50.0 | 50.0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common Stock Dividends – Nonaffiliated | Common Stock Dividends – Nonaffiliated | (1.5) | (1.5) | Common Stock Dividends – Nonaffiliated | (1.5) | (1.5) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net Income | Net Income | 40.6 | 1.2 | 41.8 | Net Income | 40.6 | 1.2 | 41.8 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Comprehensive Income | Other Comprehensive Income | 0.1 | 0.1 | Other Comprehensive Income | 0.1 | 0.1 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
TOTAL EQUITY – MARCH 31, 2023 | TOTAL EQUITY – MARCH 31, 2023 | 0.1 | 1,492.2 | 2,276.6 | (4.1) | 0.4 | 3,765.2 | TOTAL EQUITY – MARCH 31, 2023 | 0.1 | 1,492.2 | 2,276.6 | (4.1) | 0.4 | 3,765.2 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common Stock Dividends | Common Stock Dividends | (50.0) | (50.0) | Common Stock Dividends | (50.0) | (50.0) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common Stock Dividends – Nonaffiliated | Common Stock Dividends – Nonaffiliated | (0.6) | (0.6) | Common Stock Dividends – Nonaffiliated | (0.6) | (0.6) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net Income | Net Income | 81.0 | 0.3 | 81.3 | Net Income | 81.0 | 0.3 | 81.3 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Comprehensive Loss | Other Comprehensive Loss | (0.4) | (0.4) | Other Comprehensive Loss | (0.4) | (0.4) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
TOTAL EQUITY – JUNE 30, 2023 | TOTAL EQUITY – JUNE 30, 2023 | $ | 0.1 | $ | 1,492.2 | $ | 2,307.6 | $ | (4.5) | $ | 0.1 | $ | 3,795.5 | TOTAL EQUITY – JUNE 30, 2023 | 0.1 | 1,492.2 | 2,307.6 | (4.5) | 0.1 | 3,795.5 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Common Stock Dividends | Common Stock Dividends | (75.0) | (75.0) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common Stock Dividends – Nonaffiliated | Common Stock Dividends – Nonaffiliated | (0.3) | (0.3) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net Income | Net Income | 157.5 | 1.5 | 159.0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Comprehensive Loss | Other Comprehensive Loss | (0.4) | (0.4) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
TOTAL EQUITY – SEPTEMBER 30, 2023 | TOTAL EQUITY – SEPTEMBER 30, 2023 | $ | 0.1 | $ | 1,492.2 | $ | 2,390.1 | $ | (4.9) | $ | 1.3 | $ | 3,878.8 |
June 30, | December 31, | September 30, | December 31, | |||||||||||||||||||||||||
2023 | 2022 | 2023 | 2022 | |||||||||||||||||||||||||
CURRENT ASSETS | CURRENT ASSETS | CURRENT ASSETS | ||||||||||||||||||||||||||
Cash and Cash Equivalents (June 30, 2023 and December 31, 2022 Amounts Include $0.2 and $84.2, Respectively, Related to Sabine) | $ | 4.6 | $ | 88.4 | ||||||||||||||||||||||||
Cash and Cash Equivalents (September 30, 2023 and December 31, 2022 Amounts Include $0 and $84.2, Respectively, Related to Sabine) | Cash and Cash Equivalents (September 30, 2023 and December 31, 2022 Amounts Include $0 and $84.2, Respectively, Related to Sabine) | $ | 3.6 | $ | 88.4 | |||||||||||||||||||||||
Advances to Affiliates | Advances to Affiliates | 2.2 | 2.1 | Advances to Affiliates | 2.7 | 2.1 | ||||||||||||||||||||||
Accounts Receivable: | Accounts Receivable: | Accounts Receivable: | ||||||||||||||||||||||||||
Customers | Customers | 38.6 | 38.8 | Customers | 32.9 | 38.8 | ||||||||||||||||||||||
Affiliated Companies | Affiliated Companies | 63.6 | 65.4 | Affiliated Companies | 43.8 | 65.4 | ||||||||||||||||||||||
Miscellaneous | Miscellaneous | 16.7 | 10.4 | Miscellaneous | 8.3 | 10.4 | ||||||||||||||||||||||
Allowance for Uncollectible Accounts | Allowance for Uncollectible Accounts | (0.1) | — | |||||||||||||||||||||||||
Total Accounts Receivable | Total Accounts Receivable | 118.9 | 114.6 | Total Accounts Receivable | 84.9 | 114.6 | ||||||||||||||||||||||
Fuel (June 30, 2023 and December 31, 2022 Amounts Include $0 and $14.2, Respectively, Related to Sabine) | 96.7 | 81.3 | ||||||||||||||||||||||||||
Materials and Supplies (June 30, 2023 and December 31, 2022 Amounts Include $4.2 and $4.2, Respectively, Related to Sabine) | 86.3 | 92.1 | ||||||||||||||||||||||||||
Fuel (September 30, 2023 and December 31, 2022 Amounts Include $0 and $14.2, Respectively, Related to Sabine) | Fuel (September 30, 2023 and December 31, 2022 Amounts Include $0 and $14.2, Respectively, Related to Sabine) | 94.2 | 81.3 | |||||||||||||||||||||||||
Materials and Supplies (September 30, 2023 and December 31, 2022 Amounts Include $3.9 and $4.2, Respectively, Related to Sabine) | Materials and Supplies (September 30, 2023 and December 31, 2022 Amounts Include $3.9 and $4.2, Respectively, Related to Sabine) | 88.6 | 92.1 | |||||||||||||||||||||||||
Risk Management Assets | Risk Management Assets | 28.0 | 16.4 | Risk Management Assets | 17.1 | 16.4 | ||||||||||||||||||||||
Accrued Tax Benefits | Accrued Tax Benefits | 43.8 | 16.5 | Accrued Tax Benefits | 78.1 | 16.5 | ||||||||||||||||||||||
Regulatory Asset for Under-Recovered Fuel Costs | Regulatory Asset for Under-Recovered Fuel Costs | 213.6 | 353.0 | Regulatory Asset for Under-Recovered Fuel Costs | 184.4 | 353.0 | ||||||||||||||||||||||
Prepayments and Other Current Assets | Prepayments and Other Current Assets | 18.0 | 47.8 | Prepayments and Other Current Assets | 38.9 | 47.8 | ||||||||||||||||||||||
TOTAL CURRENT ASSETS | TOTAL CURRENT ASSETS | 612.1 | 812.2 | TOTAL CURRENT ASSETS | 592.5 | 812.2 | ||||||||||||||||||||||
PROPERTY, PLANT AND EQUIPMENT | PROPERTY, PLANT AND EQUIPMENT | PROPERTY, PLANT AND EQUIPMENT | ||||||||||||||||||||||||||
Electric: | Electric: | Electric: | ||||||||||||||||||||||||||
Generation | Generation | 4,887.9 | 5,476.2 | Generation | 4,892.8 | 5,476.2 | ||||||||||||||||||||||
Transmission | Transmission | 2,536.4 | 2,479.8 | Transmission | 2,557.0 | 2,479.8 | ||||||||||||||||||||||
Distribution | Distribution | 2,739.4 | 2,659.6 | Distribution | 2,769.9 | 2,659.6 | ||||||||||||||||||||||
Other Property, Plant and Equipment (June 30, 2023 and December 31, 2022 Amounts Include $187.8 and $219.8, Respectively, Related to Sabine) | 800.0 | 804.4 | ||||||||||||||||||||||||||
Other Property, Plant and Equipment (September 30, 2023 and December 31, 2022 Amounts Include $185 and $219.8, Respectively, Related to Sabine) | Other Property, Plant and Equipment (September 30, 2023 and December 31, 2022 Amounts Include $185 and $219.8, Respectively, Related to Sabine) | 801.7 | 804.4 | |||||||||||||||||||||||||
Construction Work in Progress | Construction Work in Progress | 516.9 | 369.5 | Construction Work in Progress | 598.2 | 369.5 | ||||||||||||||||||||||
Total Property, Plant and Equipment | Total Property, Plant and Equipment | 11,480.6 | 11,789.5 | Total Property, Plant and Equipment | 11,619.6 | 11,789.5 | ||||||||||||||||||||||
Accumulated Depreciation and Amortization (June 30, 2023 and December 31, 2022 Amounts Include $187.8 and $212.5, Respectively, Related to Sabine) | 3,007.7 | 3,527.3 | ||||||||||||||||||||||||||
Accumulated Depreciation and Amortization (September 30, 2023 and December 31, 2022 Amounts Include $185 and $212.5, Respectively, Related to Sabine) | Accumulated Depreciation and Amortization (September 30, 2023 and December 31, 2022 Amounts Include $185 and $212.5, Respectively, Related to Sabine) | 3,057.1 | 3,527.3 | |||||||||||||||||||||||||
TOTAL PROPERTY, PLANT AND EQUIPMENT – NET | TOTAL PROPERTY, PLANT AND EQUIPMENT – NET | 8,472.9 | 8,262.2 | TOTAL PROPERTY, PLANT AND EQUIPMENT – NET | 8,562.5 | 8,262.2 | ||||||||||||||||||||||
OTHER NONCURRENT ASSETS | OTHER NONCURRENT ASSETS | OTHER NONCURRENT ASSETS | ||||||||||||||||||||||||||
Regulatory Assets | Regulatory Assets | 1,147.2 | 1,042.4 | Regulatory Assets | 1,116.9 | 1,042.4 | ||||||||||||||||||||||
Deferred Charges and Other Noncurrent Assets | Deferred Charges and Other Noncurrent Assets | 313.9 | 262.0 | Deferred Charges and Other Noncurrent Assets | 289.2 | 262.0 | ||||||||||||||||||||||
TOTAL OTHER NONCURRENT ASSETS | TOTAL OTHER NONCURRENT ASSETS | 1,461.1 | 1,304.4 | TOTAL OTHER NONCURRENT ASSETS | 1,406.1 | 1,304.4 | ||||||||||||||||||||||
TOTAL ASSETS | TOTAL ASSETS | $ | 10,546.1 | $ | 10,378.8 | TOTAL ASSETS | $ | 10,561.1 | $ | 10,378.8 | ||||||||||||||||||
June 30, | December 31, | September 30, | December 31, | |||||||||||||||||||||||||
2023 | 2022 | 2023 | 2022 | |||||||||||||||||||||||||
(in millions) | (in millions) | |||||||||||||||||||||||||||
CURRENT LIABILITIES | CURRENT LIABILITIES | CURRENT LIABILITIES | ||||||||||||||||||||||||||
Advances from Affiliates | Advances from Affiliates | $ | 32.6 | $ | 310.7 | Advances from Affiliates | $ | 48.9 | $ | 310.7 | ||||||||||||||||||
Accounts Payable: | Accounts Payable: | Accounts Payable: | ||||||||||||||||||||||||||
General | General | 260.2 | 213.1 | General | 232.1 | 213.1 | ||||||||||||||||||||||
Affiliated Companies | Affiliated Companies | 96.7 | 81.7 | Affiliated Companies | 31.3 | 81.7 | ||||||||||||||||||||||
Short-term Debt – Nonaffiliated | Short-term Debt – Nonaffiliated | 3.9 | — | Short-term Debt – Nonaffiliated | 3.9 | — | ||||||||||||||||||||||
Long-term Debt Due Within One Year – Nonaffiliated | Long-term Debt Due Within One Year – Nonaffiliated | — | 6.2 | Long-term Debt Due Within One Year – Nonaffiliated | — | 6.2 | ||||||||||||||||||||||
Customer Deposits | Customer Deposits | 71.0 | 65.4 | Customer Deposits | 71.5 | 65.4 | ||||||||||||||||||||||
Accrued Taxes | Accrued Taxes | 118.4 | 52.8 | Accrued Taxes | 123.8 | 52.8 | ||||||||||||||||||||||
Accrued Interest | Accrued Interest | 38.9 | 36.0 | Accrued Interest | 38.3 | 36.0 | ||||||||||||||||||||||
Obligations Under Operating Leases | Obligations Under Operating Leases | 9.2 | 8.4 | Obligations Under Operating Leases | 9.4 | 8.4 | ||||||||||||||||||||||
Asset Retirement Obligations | Asset Retirement Obligations | 43.7 | 43.7 | Asset Retirement Obligations | 43.7 | 43.7 | ||||||||||||||||||||||
Other Current Liabilities | Other Current Liabilities | 110.1 | 129.7 | Other Current Liabilities | 97.0 | 129.7 | ||||||||||||||||||||||
TOTAL CURRENT LIABILITIES | TOTAL CURRENT LIABILITIES | 784.7 | 947.7 | TOTAL CURRENT LIABILITIES | 699.9 | 947.7 | ||||||||||||||||||||||
NONCURRENT LIABILITIES | NONCURRENT LIABILITIES | NONCURRENT LIABILITIES | ||||||||||||||||||||||||||
Long-term Debt – Nonaffiliated | Long-term Debt – Nonaffiliated | 3,645.6 | 3,385.4 | Long-term Debt – Nonaffiliated | 3,646.2 | 3,385.4 | ||||||||||||||||||||||
Deferred Income Taxes | Deferred Income Taxes | 1,131.9 | 1,089.7 | Deferred Income Taxes | 1,162.5 | 1,089.7 | ||||||||||||||||||||||
Regulatory Liabilities and Deferred Investment Tax Credits | Regulatory Liabilities and Deferred Investment Tax Credits | 766.8 | 825.7 | Regulatory Liabilities and Deferred Investment Tax Credits | 760.3 | 825.7 | ||||||||||||||||||||||
Asset Retirement Obligations | Asset Retirement Obligations | 225.5 | 237.2 | Asset Retirement Obligations | 218.1 | 237.2 | ||||||||||||||||||||||
Employee Benefits and Pension Obligations | Employee Benefits and Pension Obligations | 29.8 | 29.7 | Employee Benefits and Pension Obligations | 30.5 | 29.7 | ||||||||||||||||||||||
Obligations Under Operating Leases | Obligations Under Operating Leases | 125.0 | 120.2 | Obligations Under Operating Leases | 123.8 | 120.2 | ||||||||||||||||||||||
Deferred Credits and Other Noncurrent Liabilities | Deferred Credits and Other Noncurrent Liabilities | 41.3 | 68.4 | Deferred Credits and Other Noncurrent Liabilities | 41.0 | 68.4 | ||||||||||||||||||||||
TOTAL NONCURRENT LIABILITIES | TOTAL NONCURRENT LIABILITIES | 5,965.9 | 5,756.3 | TOTAL NONCURRENT LIABILITIES | 5,982.4 | 5,756.3 | ||||||||||||||||||||||
TOTAL LIABILITIES | TOTAL LIABILITIES | 6,750.6 | 6,704.0 | TOTAL LIABILITIES | 6,682.3 | 6,704.0 | ||||||||||||||||||||||
Rate Matters (Note 4) | Rate Matters (Note 4) | Rate Matters (Note 4) | ||||||||||||||||||||||||||
Commitments and Contingencies (Note 5) | Commitments and Contingencies (Note 5) | Commitments and Contingencies (Note 5) | ||||||||||||||||||||||||||
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 | 1,492.2 | 1,442.2 | Paid-in Capital | 1,492.2 | 1,442.2 | ||||||||||||||||||||||
Retained Earnings | Retained Earnings | 2,307.6 | 2,236.0 | Retained Earnings | 2,390.1 | 2,236.0 | ||||||||||||||||||||||
Accumulated Other Comprehensive Income (Loss) | Accumulated Other Comprehensive Income (Loss) | (4.5) | (4.2) | Accumulated Other Comprehensive Income (Loss) | (4.9) | (4.2) | ||||||||||||||||||||||
TOTAL COMMON SHAREHOLDER’S EQUITY | TOTAL COMMON SHAREHOLDER’S EQUITY | 3,795.4 | 3,674.1 | TOTAL COMMON SHAREHOLDER’S EQUITY | 3,877.5 | 3,674.1 | ||||||||||||||||||||||
Noncontrolling Interest | Noncontrolling Interest | 0.1 | 0.7 | Noncontrolling Interest | 1.3 | 0.7 | ||||||||||||||||||||||
TOTAL EQUITY | TOTAL EQUITY | 3,795.5 | 3,674.8 | TOTAL EQUITY | 3,878.8 | 3,674.8 | ||||||||||||||||||||||
TOTAL LIABILITIES AND EQUITY | TOTAL LIABILITIES AND EQUITY | $ | 10,546.1 | $ | 10,378.8 | TOTAL LIABILITIES AND EQUITY | $ | 10,561.1 | $ | 10,378.8 | ||||||||||||||||||
Six Months Ended June 30, | Nine Months Ended September 30, | |||||||||||||||||||||||||||
2023 | 2022 | 2023 | 2022 | |||||||||||||||||||||||||
OPERATING ACTIVITIES | OPERATING ACTIVITIES | OPERATING ACTIVITIES | ||||||||||||||||||||||||||
Net Income | Net Income | $ | 123.1 | $ | 123.9 | Net Income | $ | 282.1 | $ | 263.3 | ||||||||||||||||||
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 | 166.2 | 156.0 | Depreciation and Amortization | 266.8 | 251.8 | ||||||||||||||||||||||
Deferred Income Taxes | Deferred Income Taxes | 28.0 | (1.4) | Deferred Income Taxes | 44.9 | 7.5 | ||||||||||||||||||||||
Allowance for Equity Funds Used During Construction | Allowance for Equity Funds Used During Construction | (3.0) | (2.4) | Allowance for Equity Funds Used During Construction | (7.3) | (3.4) | ||||||||||||||||||||||
Mark-to-Market of Risk Management Contracts | Mark-to-Market of Risk Management Contracts | (11.1) | (36.6) | Mark-to-Market of Risk Management Contracts | 1.4 | (27.6) | ||||||||||||||||||||||
Property Taxes | Property Taxes | (49.3) | (44.0) | Property Taxes | (24.6) | (22.0) | ||||||||||||||||||||||
Deferred Fuel Over/Under-Recovery, Net | Deferred Fuel Over/Under-Recovery, Net | 103.6 | (53.6) | Deferred Fuel Over/Under-Recovery, Net | 134.4 | (82.0) | ||||||||||||||||||||||
Change in Regulatory Assets | Change in Regulatory Assets | (43.8) | 0.3 | Change in Regulatory Assets | (36.7) | 3.1 | ||||||||||||||||||||||
Change in Other Noncurrent Assets | Change in Other Noncurrent Assets | 5.0 | 45.1 | Change in Other Noncurrent Assets | (10.2) | 52.0 | ||||||||||||||||||||||
Change in Other Noncurrent Liabilities | Change in Other Noncurrent Liabilities | (22.4) | 10.4 | Change in Other Noncurrent Liabilities | (26.7) | 17.3 | ||||||||||||||||||||||
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 | (4.3) | (34.7) | Accounts Receivable, Net | 29.7 | (17.9) | ||||||||||||||||||||||
Fuel, Materials and Supplies | Fuel, Materials and Supplies | (12.2) | 8.7 | Fuel, Materials and Supplies | (12.0) | 23.5 | ||||||||||||||||||||||
Accounts Payable | Accounts Payable | 81.2 | 46.2 | Accounts Payable | 5.3 | 78.9 | ||||||||||||||||||||||
Accrued Taxes, Net | Accrued Taxes, Net | 39.7 | 41.3 | Accrued Taxes, Net | 10.8 | (1.1) | ||||||||||||||||||||||
Other Current Assets | Other Current Assets | 20.5 | (7.7) | Other Current Assets | 10.4 | (12.0) | ||||||||||||||||||||||
Other Current Liabilities | Other Current Liabilities | (36.5) | (34.0) | Other Current Liabilities | (40.6) | (38.1) | ||||||||||||||||||||||
Net Cash Flows from Operating Activities | Net Cash Flows from Operating Activities | 384.7 | 217.5 | Net Cash Flows from Operating Activities | 627.7 | 493.3 | ||||||||||||||||||||||
INVESTING ACTIVITIES | INVESTING ACTIVITIES | INVESTING ACTIVITIES | ||||||||||||||||||||||||||
Construction Expenditures | Construction Expenditures | (429.6) | (247.0) | Construction Expenditures | (614.1) | (397.0) | ||||||||||||||||||||||
Change in Advances to Affiliates, Net | Change in Advances to Affiliates, Net | (0.1) | 153.8 | Change in Advances to Affiliates, Net | (0.6) | 153.8 | ||||||||||||||||||||||
Acquisition of the North Central Wind Energy Facilities | Acquisition of the North Central Wind Energy Facilities | — | (658.0) | Acquisition of the North Central Wind Energy Facilities | — | (658.0) | ||||||||||||||||||||||
Other Investing Activities | Other Investing Activities | 0.8 | 3.2 | Other Investing Activities | 1.8 | 3.9 | ||||||||||||||||||||||
Net Cash Flows Used for Investing Activities | Net Cash Flows Used for Investing Activities | (428.9) | (748.0) | Net Cash Flows Used for Investing Activities | (612.9) | (897.3) | ||||||||||||||||||||||
FINANCING ACTIVITIES | FINANCING ACTIVITIES | FINANCING ACTIVITIES | ||||||||||||||||||||||||||
Capital Contribution from Parent | Capital Contribution from Parent | 50.0 | 352.2 | Capital Contribution from Parent | 50.0 | 353.3 | ||||||||||||||||||||||
Issuance of Long-term Debt – Nonaffiliated | Issuance of Long-term Debt – Nonaffiliated | 346.8 | — | Issuance of Long-term Debt – Nonaffiliated | 346.8 | — | ||||||||||||||||||||||
Change in Short-term Debt – Nonaffiliated | Change in Short-term Debt – Nonaffiliated | 3.9 | — | Change in Short-term Debt – Nonaffiliated | 3.9 | — | ||||||||||||||||||||||
Change in Advances from Affiliates, Net | Change in Advances from Affiliates, Net | (278.1) | 213.2 | Change in Advances from Affiliates, Net | (261.8) | 156.3 | ||||||||||||||||||||||
Retirement of Long-term Debt – Nonaffiliated | Retirement of Long-term Debt – Nonaffiliated | (94.1) | (3.1) | Retirement of Long-term Debt – Nonaffiliated | (94.1) | (4.7) | ||||||||||||||||||||||
Principal Payments for Finance Lease Obligations | Principal Payments for Finance Lease Obligations | (16.2) | (5.4) | Principal Payments for Finance Lease Obligations | (17.6) | (8.0) | ||||||||||||||||||||||
Dividends Paid on Common Stock | Dividends Paid on Common Stock | (50.0) | (12.5) | Dividends Paid on Common Stock | (125.0) | (57.5) | ||||||||||||||||||||||
Dividends Paid on Common Stock – Nonaffiliated | Dividends Paid on Common Stock – Nonaffiliated | (2.1) | (1.5) | Dividends Paid on Common Stock – Nonaffiliated | (2.4) | (2.6) | ||||||||||||||||||||||
Other Financing Activities | Other Financing Activities | 0.2 | 0.1 | Other Financing Activities | 0.6 | 0.4 | ||||||||||||||||||||||
Net Cash Flows from (Used for) Financing Activities | Net Cash Flows from (Used for) Financing Activities | (39.6) | 543.0 | Net Cash Flows from (Used for) Financing Activities | (99.6) | 437.2 | ||||||||||||||||||||||
Net Increase (Decrease) in Cash and Cash Equivalents | Net Increase (Decrease) in Cash and Cash Equivalents | (83.8) | 12.5 | Net Increase (Decrease) in Cash and Cash Equivalents | (84.8) | 33.2 | ||||||||||||||||||||||
Cash and Cash Equivalents at Beginning of Period | Cash and Cash Equivalents at Beginning of Period | 88.4 | 51.2 | Cash and Cash Equivalents at Beginning of Period | 88.4 | 51.2 | ||||||||||||||||||||||
Cash and Cash Equivalents at End of Period | Cash and Cash Equivalents at End of Period | $ | 4.6 | $ | 63.7 | Cash and Cash Equivalents at End of Period | $ | 3.6 | $ | 84.4 | ||||||||||||||||||
SUPPLEMENTARY INFORMATION | SUPPLEMENTARY INFORMATION | SUPPLEMENTARY INFORMATION | ||||||||||||||||||||||||||
Cash Paid for Interest, Net of Capitalized Amounts | Cash Paid for Interest, Net of Capitalized Amounts | $ | 48.7 | $ | 63.6 | Cash Paid for Interest, Net of Capitalized Amounts | $ | 89.8 | $ | 102.1 | ||||||||||||||||||
Net Cash Paid (Received) for Income Taxes | Net Cash Paid (Received) for Income Taxes | (17.1) | 20.1 | Net Cash Paid (Received) for Income Taxes | (23.3) | 34.7 | ||||||||||||||||||||||
Noncash Acquisitions Under Finance Leases | Noncash Acquisitions Under Finance Leases | 2.6 | 2.8 | Noncash Acquisitions Under Finance Leases | 4.6 | 3.2 | ||||||||||||||||||||||
Construction Expenditures Included in Current Liabilities as of June 30, | 85.7 | 63.3 | ||||||||||||||||||||||||||
Construction Expenditures Included in Current Liabilities as of September 30, | Construction Expenditures Included in Current Liabilities as of September 30, | 69.0 | 71.8 | |||||||||||||||||||||||||
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 | |||||||||||||
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, | AEP, AEPTCo, PSO, SWEPCo | |||||||||||||
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 | |||||||||||||
Variable Interest Entities | AEP | |||||||||||||
Property, Plant and Equipment | AEP, SWEPCo | |||||||||||||
Revenue from Contracts with Customers | AEP, AEP Texas, AEPTCo, APCo, I&M, OPCo, PSO, SWEPCo |
Three Months Ended June 30, | |||||||||||||||||||||||
2023 | 2022 | ||||||||||||||||||||||
(in millions, except per share data) | |||||||||||||||||||||||
$/share | $/share | ||||||||||||||||||||||
Earnings Attributable to AEP Common Shareholders | $ | 521.2 | $ | 524.5 | |||||||||||||||||||
Weighted-Average Number of Basic AEP Common Shares Outstanding | 514.9 | $ | 1.01 | 513.6 | $ | 1.02 | |||||||||||||||||
Weighted-Average Dilutive Effect of Stock-Based Awards | 1.3 | — | 1.6 | — | |||||||||||||||||||
Weighted-Average Number of Diluted AEP Common Shares Outstanding | 516.2 | $ | 1.01 | 515.2 | $ | 1.02 |
Six Months Ended June 30, | |||||||||||||||||||||||
2023 | 2022 | ||||||||||||||||||||||
(in millions, except per share data) | |||||||||||||||||||||||
$/share | $/share | ||||||||||||||||||||||
Earnings Attributable to AEP Common Shareholders | $ | 918.2 | $ | 1,239.2 | |||||||||||||||||||
Weighted-Average Number of Basic AEP Common Shares Outstanding | 514.5 | $ | 1.78 | 509.9 | $ | 2.43 | |||||||||||||||||
Weighted-Average Dilutive Effect of Stock-Based Awards | 1.4 | — | 1.5 | (0.01) | |||||||||||||||||||
Weighted-Average Number of Diluted AEP Common Shares Outstanding | 515.9 | $ | 1.78 | 511.4 | $ | 2.42 |
Three Months Ended September 30, | |||||||||||||||||||||||
2023 | 2022 | ||||||||||||||||||||||
(in millions, except per share data) | |||||||||||||||||||||||
$/share | $/share | ||||||||||||||||||||||
Earnings Attributable to AEP Common Shareholders | $ | 953.7 | $ | 683.7 | |||||||||||||||||||
Weighted-Average Number of Basic AEP Common Shares Outstanding | 520.5 | $ | 1.83 | 513.7 | $ | 1.33 | |||||||||||||||||
Weighted-Average Dilutive Effect of Stock-Based Awards | 0.9 | — | 1.6 | — | |||||||||||||||||||
Weighted-Average Number of Diluted AEP Common Shares Outstanding | 521.4 | $ | 1.83 | 515.3 | $ | 1.33 |
Nine Months Ended September 30, | |||||||||||||||||||||||
2023 | 2022 | ||||||||||||||||||||||
(in millions, except per share data) | |||||||||||||||||||||||
$/share | $/share | ||||||||||||||||||||||
Earnings Attributable to AEP Common Shareholders | $ | 1,871.9 | $ | 1,922.9 | |||||||||||||||||||
Weighted-Average Number of Basic AEP Common Shares Outstanding | 516.5 | $ | 3.62 | 511.2 | $ | 3.76 | |||||||||||||||||
Weighted-Average Dilutive Effect of Stock-Based Awards | 1.3 | — | 1.5 | (0.01) | |||||||||||||||||||
Weighted-Average Number of Diluted AEP Common Shares Outstanding | 517.8 | $ | 3.62 | 512.7 | $ | 3.75 |
June 30, 2023 | September 30, 2023 | |||||||||||||||||||||||||||||||||||||||
AEP | AEP Texas | APCo | AEP | AEP Texas | APCo | |||||||||||||||||||||||||||||||||||
(in millions) | (in millions) | |||||||||||||||||||||||||||||||||||||||
Cash and Cash Equivalents | Cash and Cash Equivalents | $ | 304.9 | $ | 0.1 | $ | 6.8 | Cash and Cash Equivalents | $ | 353.3 | $ | 0.1 | $ | 4.5 | ||||||||||||||||||||||||||
Restricted Cash | Restricted Cash | 45.8 | 30.7 | 15.1 | Restricted Cash | 53.8 | 46.9 | 6.9 | ||||||||||||||||||||||||||||||||
Total Cash, Cash Equivalents and Restricted Cash | Total Cash, Cash Equivalents and Restricted Cash | $ | 350.7 | $ | 30.8 | $ | 21.9 | Total Cash, Cash Equivalents and Restricted Cash | $ | 407.1 | $ | 47.0 | $ | 11.4 |
December 31, 2022 | ||||||||||||||||||||
AEP | AEP Texas | APCo | ||||||||||||||||||
(in millions) | ||||||||||||||||||||
Cash and Cash Equivalents | $ | 509.4 | $ | 0.1 | $ | 7.5 | ||||||||||||||
Restricted Cash | 47.1 | 32.7 | 14.4 | |||||||||||||||||
Total Cash, Cash Equivalents and Restricted Cash | $ | 556.5 | $ | 32.8 | $ | 21.9 |
Nine Months Ended September 30, | ||||||||||||||
Cash Flow Information | 2023 | 2022 | ||||||||||||
(in millions) | ||||||||||||||
Cash Paid for: | ||||||||||||||
Interest, Net of Capitalized Amounts | $ | 1,148.7 | $ | 856.8 | ||||||||||
Income Taxes | 26.7 | 104.1 | ||||||||||||
Noncash Investing and Financing Activities: | ||||||||||||||
Acquisitions Under Finance Leases | 38.5 | 22.3 | ||||||||||||
Construction Expenditures Included in Current Liabilities as of September 30, | 975.0 | 985.8 | ||||||||||||
Acquisition of Nuclear Fuel Included in Current Liabilities as of September 30, | 9.5 | 8.5 | ||||||||||||
Noncash Increase in Noncurrent Assets from the Sale of the Competitive Contracted Renewables Portfolio | 74.7 | — | ||||||||||||
Cash Flow Hedges | Pension | Cash Flow Hedges | Pension | |||||||||||||||||||||||||||||||||||||||||||||||||
Three Months Ended June 30, 2023 | Commodity | Interest Rate | and OPEB | Total | ||||||||||||||||||||||||||||||||||||||||||||||||
Three Months Ended September 30, 2023 | Three Months Ended September 30, 2023 | Commodity | Interest Rate | and OPEB | Total | |||||||||||||||||||||||||||||||||||||||||||||||
(in millions) | (in millions) | |||||||||||||||||||||||||||||||||||||||||||||||||||
Balance in AOCI as of March 31, 2023 | $ | 65.3 | $ | 6.1 | $ | (139.5) | $ | (68.1) | ||||||||||||||||||||||||||||||||||||||||||||
Balance in AOCI as of June 30, 2023 | Balance in AOCI as of June 30, 2023 | $ | 93.5 | $ | 12.7 | $ | (142.6) | $ | (36.4) | |||||||||||||||||||||||||||||||||||||||||||
Change in Fair Value Recognized in AOCI, Net of Tax | Change in Fair Value Recognized in AOCI, Net of Tax | 5.9 | 7.0 | — | 12.9 | Change in Fair Value Recognized in AOCI, Net of Tax | 19.3 | (6.9) | — | 12.4 | ||||||||||||||||||||||||||||||||||||||||||
Amount of (Gain) Loss Reclassified from AOCI | Amount of (Gain) Loss Reclassified from AOCI | Amount of (Gain) Loss Reclassified from AOCI | ||||||||||||||||||||||||||||||||||||||||||||||||||
Purchased Electricity, Fuel and Other Consumables Used for Electric Generation (a) | Purchased Electricity, Fuel and Other Consumables Used for Electric Generation (a) | 28.3 | — | — | 28.3 | Purchased Electricity, Fuel and Other Consumables Used for Electric Generation (a) | (15.6) | — | — | (15.6) | ||||||||||||||||||||||||||||||||||||||||||
Interest Expense (a) | Interest Expense (a) | — | (0.5) | — | (0.5) | Interest Expense (a) | — | (1.3) | — | (1.3) | ||||||||||||||||||||||||||||||||||||||||||
Amortization of Prior Service Cost (Credit) | Amortization of Prior Service Cost (Credit) | — | — | (5.3) | (5.3) | Amortization of Prior Service Cost (Credit) | — | — | (5.3) | (5.3) | ||||||||||||||||||||||||||||||||||||||||||
Amortization of Actuarial (Gains) Losses | Amortization of Actuarial (Gains) Losses | — | — | 1.4 | 1.4 | Amortization of Actuarial (Gains) Losses | — | — | 1.3 | 1.3 | ||||||||||||||||||||||||||||||||||||||||||
Reclassifications from AOCI, before Income Tax (Expense) Benefit | 28.3 | (0.5) | (3.9) | 23.9 | ||||||||||||||||||||||||||||||||||||||||||||||||
Income Tax (Expense) Benefit | 6.0 | (0.1) | (0.8) | 5.1 | ||||||||||||||||||||||||||||||||||||||||||||||||
Reclassifications from AOCI, Net of Income Tax (Expense) Benefit | 22.3 | (0.4) | (3.1) | 18.8 | ||||||||||||||||||||||||||||||||||||||||||||||||
Reclassifications from AOCI, before Income Tax Benefit | Reclassifications from AOCI, before Income Tax Benefit | (15.6) | (1.3) | (4.0) | (20.9) | |||||||||||||||||||||||||||||||||||||||||||||||
Income Tax Benefit | Income Tax Benefit | (3.4) | (0.2) | (0.8) | (4.4) | |||||||||||||||||||||||||||||||||||||||||||||||
Reclassifications from AOCI, Net of Income Tax Benefit | Reclassifications from AOCI, Net of Income Tax Benefit | (12.2) | (1.1) | (3.2) | (16.5) | |||||||||||||||||||||||||||||||||||||||||||||||
Net Current Period Other Comprehensive Income (Loss) | Net Current Period Other Comprehensive Income (Loss) | 28.2 | 6.6 | (3.1) | 31.7 | Net Current Period Other Comprehensive Income (Loss) | 7.1 | (8.0) | (3.2) | (4.1) | ||||||||||||||||||||||||||||||||||||||||||
Balance in AOCI as of June 30, 2023 | $ | 93.5 | $ | 12.7 | $ | (142.6) | $ | (36.4) | ||||||||||||||||||||||||||||||||||||||||||||
Balance in AOCI as of September 30, 2023 | Balance in AOCI as of September 30, 2023 | $ | 100.6 | $ | 4.7 | $ | (145.8) | $ | (40.5) |
Cash Flow Hedges | Pension | Cash Flow Hedges | Pension | |||||||||||||||||||||||||||||||||||||||||||||||||
Three Months Ended June 30, 2022 | Commodity | Interest Rate | and OPEB | Total | ||||||||||||||||||||||||||||||||||||||||||||||||
Three Months Ended September 30, 2022 | Three Months Ended September 30, 2022 | Commodity | Interest Rate | and OPEB | Total | |||||||||||||||||||||||||||||||||||||||||||||||
(in millions) | (in millions) | |||||||||||||||||||||||||||||||||||||||||||||||||||
Balance in AOCI as of March 31, 2022 | $ | 404.0 | $ | (13.6) | $ | 40.2 | $ | 430.6 | ||||||||||||||||||||||||||||||||||||||||||||
Balance in AOCI as of June 30, 2022 | Balance in AOCI as of June 30, 2022 | $ | 533.6 | $ | (10.8) | $ | 28.6 | $ | 551.4 | |||||||||||||||||||||||||||||||||||||||||||
Change in Fair Value Recognized in AOCI, Net of Tax | Change in Fair Value Recognized in AOCI, Net of Tax | 257.3 | 2.0 | — | 259.3 | Change in Fair Value Recognized in AOCI, Net of Tax | 94.3 | 7.4 | — | 101.7 | ||||||||||||||||||||||||||||||||||||||||||
Amount of (Gain) Loss Reclassified from AOCI | Amount of (Gain) Loss Reclassified from AOCI | Amount of (Gain) Loss Reclassified from AOCI | ||||||||||||||||||||||||||||||||||||||||||||||||||
Generation & Marketing Revenues (a) | Generation & Marketing Revenues (a) | 0.1 | — | — | 0.1 | Generation & Marketing Revenues (a) | 0.2 | — | — | 0.2 | ||||||||||||||||||||||||||||||||||||||||||
Purchased Electricity, Fuel and Other Consumables Used for Electric Generation (a) | Purchased Electricity, Fuel and Other Consumables Used for Electric Generation (a) | (161.8) | — | — | (161.8) | Purchased Electricity, Fuel and Other Consumables Used for Electric Generation (a) | (222.6) | — | — | (222.6) | ||||||||||||||||||||||||||||||||||||||||||
Interest Expense (a) | Interest Expense (a) | — | 1.1 | — | 1.1 | Interest Expense (a) | — | 0.9 | — | 0.9 | ||||||||||||||||||||||||||||||||||||||||||
Amortization of Prior Service Cost (Credit) | Amortization of Prior Service Cost (Credit) | — | — | (5.4) | (5.4) | Amortization of Prior Service Cost (Credit) | — | — | (6.2) | (6.2) | ||||||||||||||||||||||||||||||||||||||||||
Amortization of Actuarial (Gains) Losses | Amortization of Actuarial (Gains) Losses | — | — | 2.1 | 2.1 | Amortization of Actuarial (Gains) Losses | — | — | 2.2 | 2.2 | ||||||||||||||||||||||||||||||||||||||||||
Reclassifications from AOCI, before Income Tax (Expense) Benefit | Reclassifications from AOCI, before Income Tax (Expense) Benefit | (161.7) | 1.1 | (3.3) | (163.9) | Reclassifications from AOCI, before Income Tax (Expense) Benefit | (222.4) | 0.9 | (4.0) | (225.5) | ||||||||||||||||||||||||||||||||||||||||||
Income Tax (Expense) Benefit | Income Tax (Expense) Benefit | (34.0) | 0.3 | (0.7) | (34.4) | Income Tax (Expense) Benefit | (46.6) | 0.1 | (0.8) | (47.3) | ||||||||||||||||||||||||||||||||||||||||||
Reclassifications from AOCI, Net of Income Tax (Expense) Benefit | Reclassifications from AOCI, Net of Income Tax (Expense) Benefit | (127.7) | 0.8 | (2.6) | (129.5) | Reclassifications from AOCI, Net of Income Tax (Expense) Benefit | (175.8) | 0.8 | (3.2) | (178.2) | ||||||||||||||||||||||||||||||||||||||||||
Reclassifications of KPCo Pension and OPEB Regulatory Assets to AOCI | — | — | (11.4) | (11.4) | ||||||||||||||||||||||||||||||||||||||||||||||||
Income Tax (Expense) Benefit | — | — | (2.4) | (2.4) | ||||||||||||||||||||||||||||||||||||||||||||||||
Reclassifications of KPCo Pension and OPEB Regulatory Assets to AOCI, Net of Income Tax (Expense) Benefit | — | — | (9.0) | (9.0) | ||||||||||||||||||||||||||||||||||||||||||||||||
Net Current Period Other Comprehensive Income (Loss) | Net Current Period Other Comprehensive Income (Loss) | 129.6 | 2.8 | (11.6) | 120.8 | Net Current Period Other Comprehensive Income (Loss) | (81.5) | 8.2 | (3.2) | (76.5) | ||||||||||||||||||||||||||||||||||||||||||
Balance in AOCI as of June 30, 2022 | $ | 533.6 | $ | (10.8) | $ | 28.6 | $ | 551.4 | ||||||||||||||||||||||||||||||||||||||||||||
Balance in AOCI as of September 30, 2022 | Balance in AOCI as of September 30, 2022 | $ | 452.1 | $ | (2.6) | $ | 25.4 | $ | 474.9 |
Cash Flow Hedges | Pension | Cash Flow Hedges | Pension | |||||||||||||||||||||||||||||||||||||||||||||||||
Six Months Ended June 30, 2023 | Commodity | Interest Rate | and OPEB | Total | ||||||||||||||||||||||||||||||||||||||||||||||||
Nine Months Ended September 30, 2023 | Nine Months Ended September 30, 2023 | Commodity | Interest Rate | and OPEB | Total | |||||||||||||||||||||||||||||||||||||||||||||||
(in millions) | (in millions) | |||||||||||||||||||||||||||||||||||||||||||||||||||
Balance in AOCI as of December 31, 2022 | Balance in AOCI as of December 31, 2022 | $ | 223.5 | $ | 0.3 | $ | (140.1) | $ | 83.7 | Balance in AOCI as of December 31, 2022 | $ | 223.5 | $ | 0.3 | $ | (140.1) | $ | 83.7 | ||||||||||||||||||||||||||||||||||
Change in Fair Value Recognized in AOCI, Net of Tax | Change in Fair Value Recognized in AOCI, Net of Tax | (189.4) | 12.2 | (12.9) | (190.1) | Change in Fair Value Recognized in AOCI, Net of Tax | (170.1) | 5.3 | (12.9) | (177.7) | ||||||||||||||||||||||||||||||||||||||||||
Amount of (Gain) Loss Reclassified from AOCI | Amount of (Gain) Loss Reclassified from AOCI | Amount of (Gain) Loss Reclassified from AOCI | ||||||||||||||||||||||||||||||||||||||||||||||||||
Purchased Electricity, Fuel and Other Consumables Used for Electric Generation (a) | Purchased Electricity, Fuel and Other Consumables Used for Electric Generation (a) | 75.3 | — | — | 75.3 | Purchased Electricity, Fuel and Other Consumables Used for Electric Generation (a) | 59.7 | — | — | 59.7 | ||||||||||||||||||||||||||||||||||||||||||
Interest Expense (a) | Interest Expense (a) | — | 0.2 | — | 0.2 | Interest Expense (a) | — | (1.1) | — | (1.1) | ||||||||||||||||||||||||||||||||||||||||||
Amortization of Prior Service Cost (Credit) | Amortization of Prior Service Cost (Credit) | — | — | (10.6) | (10.6) | Amortization of Prior Service Cost (Credit) | — | — | (15.9) | (15.9) | ||||||||||||||||||||||||||||||||||||||||||
Amortization of Actuarial (Gains) Losses | Amortization of Actuarial (Gains) Losses | — | — | 2.6 | 2.6 | Amortization of Actuarial (Gains) Losses | — | — | 3.9 | 3.9 | ||||||||||||||||||||||||||||||||||||||||||
Reclassifications from AOCI, before Income Tax (Expense) Benefit | Reclassifications from AOCI, before Income Tax (Expense) Benefit | 75.3 | 0.2 | (8.0) | 67.5 | Reclassifications from AOCI, before Income Tax (Expense) Benefit | 59.7 | (1.1) | (12.0) | 46.6 | ||||||||||||||||||||||||||||||||||||||||||
Income Tax (Expense) Benefit | Income Tax (Expense) Benefit | 15.9 | — | (1.7) | 14.2 | Income Tax (Expense) Benefit | 12.5 | (0.2) | (2.5) | 9.8 | ||||||||||||||||||||||||||||||||||||||||||
Reclassifications from AOCI, Net of Income Tax (Expense) Benefit | Reclassifications from AOCI, Net of Income Tax (Expense) Benefit | 59.4 | 0.2 | (6.3) | 53.3 | Reclassifications from AOCI, Net of Income Tax (Expense) Benefit | 47.2 | (0.9) | (9.5) | 36.8 | ||||||||||||||||||||||||||||||||||||||||||
Reclassifications of KPCo Pension and OPEB Regulatory Assets from AOCI | Reclassifications of KPCo Pension and OPEB Regulatory Assets from AOCI | — | — | 21.1 | 21.1 | Reclassifications of KPCo Pension and OPEB Regulatory Assets from AOCI | — | — | 21.1 | 21.1 | ||||||||||||||||||||||||||||||||||||||||||
Income Tax (Expense) Benefit | Income Tax (Expense) Benefit | — | — | 4.4 | 4.4 | Income Tax (Expense) Benefit | — | — | 4.4 | 4.4 | ||||||||||||||||||||||||||||||||||||||||||
Reclassifications of KPCo Pension and OPEB Regulatory Assets from AOCI, Net of Income Tax (Expense) Benefit | Reclassifications of KPCo Pension and OPEB Regulatory Assets from AOCI, Net of Income Tax (Expense) Benefit | — | — | 16.7 | 16.7 | Reclassifications of KPCo Pension and OPEB Regulatory Assets from AOCI, Net of Income Tax (Expense) Benefit | — | — | 16.7 | 16.7 | ||||||||||||||||||||||||||||||||||||||||||
Net Current Period Other Comprehensive Income (Loss) | Net Current Period Other Comprehensive Income (Loss) | (130.0) | 12.4 | (2.5) | (120.1) | Net Current Period Other Comprehensive Income (Loss) | (122.9) | 4.4 | (5.7) | (124.2) | ||||||||||||||||||||||||||||||||||||||||||
Balance in AOCI as of June 30, 2023 | $ | 93.5 | $ | 12.7 | $ | (142.6) | $ | (36.4) | ||||||||||||||||||||||||||||||||||||||||||||
Balance in AOCI as of September 30, 2023 | Balance in AOCI as of September 30, 2023 | $ | 100.6 | $ | 4.7 | $ | (145.8) | $ | (40.5) |
Cash Flow Hedges | Pension | Cash Flow Hedges | Pension | |||||||||||||||||||||||||||||||||||||||||||||||||
Six Months Ended June 30, 2022 | Commodity | Interest Rate | and OPEB | Total | ||||||||||||||||||||||||||||||||||||||||||||||||
Nine Months Ended September 30, 2022 | Nine Months Ended September 30, 2022 | Commodity | Interest Rate | and OPEB | Total | |||||||||||||||||||||||||||||||||||||||||||||||
(in millions) | (in millions) | |||||||||||||||||||||||||||||||||||||||||||||||||||
Balance in AOCI as of December 31, 2021 | Balance in AOCI as of December 31, 2021 | $ | 163.7 | $ | (21.3) | $ | 42.4 | $ | 184.8 | Balance in AOCI as of December 31, 2021 | $ | 163.7 | $ | (21.3) | $ | 42.4 | $ | 184.8 | ||||||||||||||||||||||||||||||||||
Change in Fair Value Recognized in AOCI, Net of Tax | Change in Fair Value Recognized in AOCI, Net of Tax | 535.5 | 8.8 | — | 544.3 | Change in Fair Value Recognized in AOCI, Net of Tax | 629.8 | 16.2 | — | 646.0 | ||||||||||||||||||||||||||||||||||||||||||
Amount of (Gain) Loss Reclassified from AOCI | Amount of (Gain) Loss Reclassified from AOCI | Amount of (Gain) Loss Reclassified from AOCI | ||||||||||||||||||||||||||||||||||||||||||||||||||
Generation & Marketing Revenues (a) | Generation & Marketing Revenues (a) | 0.2 | — | — | 0.2 | |||||||||||||||||||||||||||||||||||||||||||||||
Purchased Electricity, Fuel and Other Consumables Used for Electric Generation (a) | Purchased Electricity, Fuel and Other Consumables Used for Electric Generation (a) | (209.7) | — | — | (209.7) | Purchased Electricity, Fuel and Other Consumables Used for Electric Generation (a) | (432.3) | — | — | (432.3) | ||||||||||||||||||||||||||||||||||||||||||
Interest Expense (a) | Interest Expense (a) | — | 2.2 | — | 2.2 | Interest Expense (a) | — | 3.1 | — | 3.1 | ||||||||||||||||||||||||||||||||||||||||||
Amortization of Prior Service Cost (Credit) | Amortization of Prior Service Cost (Credit) | — | — | (10.3) | (10.3) | Amortization of Prior Service Cost (Credit) | — | — | (16.5) | (16.5) | ||||||||||||||||||||||||||||||||||||||||||
Amortization of Actuarial (Gains) Losses | Amortization of Actuarial (Gains) Losses | — | — | 4.2 | 4.2 | Amortization of Actuarial (Gains) Losses | — | — | 6.4 | 6.4 | ||||||||||||||||||||||||||||||||||||||||||
Reclassifications from AOCI, before Income Tax (Expense) Benefit | Reclassifications from AOCI, before Income Tax (Expense) Benefit | (209.7) | 2.2 | (6.1) | (213.6) | Reclassifications from AOCI, before Income Tax (Expense) Benefit | (432.1) | 3.1 | (10.1) | (439.1) | ||||||||||||||||||||||||||||||||||||||||||
Income Tax (Expense) Benefit | Income Tax (Expense) Benefit | (44.1) | 0.5 | (1.3) | (44.9) | Income Tax (Expense) Benefit | (90.7) | 0.6 | (2.1) | (92.2) | ||||||||||||||||||||||||||||||||||||||||||
Reclassifications from AOCI, Net of Income Tax (Expense) Benefit | Reclassifications from AOCI, Net of Income Tax (Expense) Benefit | (165.6) | 1.7 | (4.8) | (168.7) | Reclassifications from AOCI, Net of Income Tax (Expense) Benefit | (341.4) | 2.5 | (8.0) | (346.9) | ||||||||||||||||||||||||||||||||||||||||||
Reclassifications of KPCo Pension and OPEB Regulatory Assets to AOCI | Reclassifications of KPCo Pension and OPEB Regulatory Assets to AOCI | — | — | (11.4) | (11.4) | Reclassifications of KPCo Pension and OPEB Regulatory Assets to AOCI | — | — | (11.4) | (11.4) | ||||||||||||||||||||||||||||||||||||||||||
Income Tax (Expense) Benefit | Income Tax (Expense) Benefit | — | — | (2.4) | (2.4) | Income Tax (Expense) Benefit | — | — | (2.4) | (2.4) | ||||||||||||||||||||||||||||||||||||||||||
Reclassifications of KPCo Pension and OPEB Regulatory Assets to AOCI, Net of Income Tax (Expense) Benefit | Reclassifications of KPCo Pension and OPEB Regulatory Assets to AOCI, Net of Income Tax (Expense) Benefit | — | — | (9.0) | (9.0) | Reclassifications of KPCo Pension and OPEB Regulatory Assets to AOCI, Net of Income Tax (Expense) Benefit | — | — | (9.0) | (9.0) | ||||||||||||||||||||||||||||||||||||||||||
Net Current Period Other Comprehensive Income (Loss) | Net Current Period Other Comprehensive Income (Loss) | 369.9 | 10.5 | (13.8) | 366.6 | Net Current Period Other Comprehensive Income (Loss) | 288.4 | 18.7 | (17.0) | 290.1 | ||||||||||||||||||||||||||||||||||||||||||
Balance in AOCI as of June 30, 2022 | $ | 533.6 | $ | (10.8) | $ | 28.6 | $ | 551.4 | ||||||||||||||||||||||||||||||||||||||||||||
Balance in AOCI as of September 30, 2022 | Balance in AOCI as of September 30, 2022 | $ | 452.1 | $ | (2.6) | $ | 25.4 | $ | 474.9 |
Plant | Plant | Net Book Value | 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 | $ | 120.5 | $ | 154.9 | $ | 20.4 | (b) | 2026 | (c) | $ | 14.9 | Northeastern Plant, Unit 3 | $ | 112.5 | $ | 159.5 | $ | 20.4 | (b) | 2026 | (c) | $ | 15.0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Welsh Plant, Units 1 and 3 | Welsh Plant, Units 1 and 3 | 384.3 | 105.4 | 58.2 | (d) | 2028 | (e) | (f) | 38.6 | Welsh Plant, Units 1 and 3 | 368.8 | 115.5 | 58.0 | (d) | 2028 | (e) | (f) | 38.6 |
AEP | AEP | |||||||||||||||||||||||||||
June 30, | December 31, | September 30, | December 31, | |||||||||||||||||||||||||
2023 | 2022 | 2023 | 2022 | |||||||||||||||||||||||||
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 | ||||||||||||||||||||||||||
Pirkey Plant Accelerated Depreciation | $ | 111.8 | $ | 116.5 | ||||||||||||||||||||||||
Welsh Plant, Units 1 and 3 Accelerated Depreciation | Welsh Plant, Units 1 and 3 Accelerated Depreciation | $ | 115.5 | $ | 85.6 | |||||||||||||||||||||||
Pirkey Plant | Pirkey Plant | 113.0 | 116.5 | |||||||||||||||||||||||||
Unrecovered Winter Storm Fuel Costs (a) | Unrecovered Winter Storm Fuel Costs (a) | 109.5 | 121.7 | Unrecovered Winter Storm Fuel Costs (a) | 101.4 | 121.7 | ||||||||||||||||||||||
Welsh Plant, Units 1 and 3 Accelerated Depreciation | 105.4 | 85.6 | ||||||||||||||||||||||||||
Dolet Hills Power Station Fuel Costs - Louisiana | Dolet Hills Power Station Fuel Costs - Louisiana | 33.9 | 32.0 | Dolet Hills Power Station Fuel Costs - Louisiana | 34.7 | 32.0 | ||||||||||||||||||||||
Texas Mobile Generation Costs | Texas Mobile Generation Costs | 29.4 | 17.6 | Texas Mobile Generation Costs | — | 17.6 | ||||||||||||||||||||||
Other Regulatory Assets Pending Final Regulatory Approval | Other Regulatory Assets Pending Final Regulatory Approval | 21.4 | 19.3 | Other Regulatory Assets Pending Final Regulatory Approval | 21.0 | 19.3 | ||||||||||||||||||||||
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 | 395.4 | 407.2 | Storm-Related Costs | 385.8 | 407.2 | ||||||||||||||||||||||
2020-2022 Virginia Triennial Under-Earnings | 2020-2022 Virginia Triennial Under-Earnings | 35.0 | 37.9 | 2020-2022 Virginia Triennial Under-Earnings | 37.4 | 37.9 | ||||||||||||||||||||||
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 | ||||||||||||||||||||||
Other Regulatory Assets Pending Final Regulatory Approval | Other Regulatory Assets Pending Final Regulatory Approval | 49.3 | 55.6 | Other Regulatory Assets Pending Final Regulatory Approval | 51.6 | 55.6 | ||||||||||||||||||||||
Total Regulatory Assets Pending Final Regulatory Approval | Total Regulatory Assets Pending Final Regulatory Approval | $ | 917.0 | $ | 919.3 | Total Regulatory Assets Pending Final Regulatory Approval | $ | 886.3 | $ | 919.3 |
AEP Texas | ||||||||||||||
September 30, | December 31, | |||||||||||||
2023 | 2022 | |||||||||||||
Noncurrent Regulatory Assets | (in millions) | |||||||||||||
Regulatory Assets Currently Earning a Return | ||||||||||||||
Texas Mobile Generation Costs (a) | $ | — | $ | 17.6 | ||||||||||
Regulatory Assets Currently Not Earning a Return | ||||||||||||||
Storm-Related Costs | 35.9 | 26.7 | ||||||||||||
Vegetation Management Program | 5.2 | 5.2 | ||||||||||||
Texas Retail Electric Provider Bad Debt Expense | 4.1 | 4.1 | ||||||||||||
Other Regulatory Assets Pending Final Regulatory Approval | 16.3 | 13.4 | ||||||||||||
Total Regulatory Assets Pending Final Regulatory Approval | $ | 61.5 | $ | 67.0 |
AEP Texas | APCo | |||||||||||||||||||||||||||
June 30, | December 31, | September 30, | December 31, | |||||||||||||||||||||||||
2023 | 2022 | 2023 | 2022 | |||||||||||||||||||||||||
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 | ||||||||||||||||||||||||||
Texas Mobile Generation Costs | $ | 29.4 | $ | 17.6 | ||||||||||||||||||||||||
COVID-19 – Virginia | COVID-19 – Virginia | $ | 7.0 | $ | 7.0 | |||||||||||||||||||||||
Regulatory Assets Currently Not Earning a Return | Regulatory Assets Currently Not Earning a Return | Regulatory Assets Currently Not Earning a Return | ||||||||||||||||||||||||||
Storm-Related Costs | 34.9 | 26.7 | ||||||||||||||||||||||||||
Vegetation Management Program | 5.2 | 5.2 | ||||||||||||||||||||||||||
Texas Retail Electric Provider Bad Debt Expense | 4.1 | 4.1 | ||||||||||||||||||||||||||
Storm-Related Costs - West Virginia | Storm-Related Costs - West Virginia | 72.2 | 72.6 | |||||||||||||||||||||||||
2020-2022 Virginia Triennial Under-Earnings | 2020-2022 Virginia Triennial Under-Earnings | 37.4 | 37.9 | |||||||||||||||||||||||||
Plant Retirement Costs – Asset Retirement Obligation Costs | Plant Retirement Costs – Asset Retirement Obligation Costs | 25.9 | 25.9 | |||||||||||||||||||||||||
Other Regulatory Assets Pending Final Regulatory Approval | Other Regulatory Assets Pending Final Regulatory Approval | 13.6 | 13.4 | Other Regulatory Assets Pending Final Regulatory Approval | 5.9 | 1.1 | ||||||||||||||||||||||
Total Regulatory Assets Pending Final Regulatory Approval | Total Regulatory Assets Pending Final Regulatory Approval | $ | 87.2 | $ | 67.0 | Total Regulatory Assets Pending Final Regulatory Approval | $ | 148.4 | $ | 144.5 |
APCo | I&M | |||||||||||||||||||||||||||
June 30, | December 31, | September 30, | December 31, | |||||||||||||||||||||||||
2023 | 2022 | 2023 | 2022 | |||||||||||||||||||||||||
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 | $ | 7.2 | $ | 7.0 | ||||||||||||||||||||||||
Other Regulatory Assets Pending Final Regulatory Approval | Other Regulatory Assets Pending Final Regulatory Approval | $ | 0.2 | $ | 0.1 | |||||||||||||||||||||||
Regulatory Assets Currently Not Earning a Return | Regulatory Assets Currently Not Earning a Return | |||||||||||||||||||||||||||
Storm-Related Costs - Indiana | Storm-Related Costs - Indiana | 29.4 | 21.6 | |||||||||||||||||||||||||
Regulatory Assets Currently Not Earning a Return | ||||||||||||||||||||||||||||
Storm-Related Costs - West Virginia | 72.0 | 72.6 | ||||||||||||||||||||||||||
2020-2022 Virginia Triennial Under-Earnings | 35.0 | 37.9 | ||||||||||||||||||||||||||
Plant Retirement Costs – Asset Retirement Obligation Costs | 25.9 | 25.9 | ||||||||||||||||||||||||||
Other Regulatory Assets Pending Final Regulatory Approval | Other Regulatory Assets Pending Final Regulatory Approval | 5.5 | 1.1 | Other Regulatory Assets Pending Final Regulatory Approval | 2.7 | 2.0 | ||||||||||||||||||||||
Total Regulatory Assets Pending Final Regulatory Approval | Total Regulatory Assets Pending Final Regulatory Approval | $ | 145.6 | $ | 144.5 | Total Regulatory Assets Pending Final Regulatory Approval | $ | 32.3 | $ | 23.7 |
I&M | ||||||||||||||
June 30, | December 31, | |||||||||||||
2023 | 2022 | |||||||||||||
Noncurrent Regulatory Assets | (in millions) | |||||||||||||
Regulatory Assets Currently Earning a Return | ||||||||||||||
Other Regulatory Assets Pending Final Regulatory Approval | $ | 0.1 | $ | 0.1 | ||||||||||
Regulatory Assets Currently Not Earning a Return | ||||||||||||||
Storm-Related Costs - Indiana | 23.9 | 21.6 | ||||||||||||
Other Regulatory Assets Pending Final Regulatory Approval | 2.7 | 2.0 | ||||||||||||
Total Regulatory Assets Pending Final Regulatory Approval | $ | 26.7 | $ | 23.7 |
OPCo | ||||||||||||||
September 30, | December 31, | |||||||||||||
2023 | 2022 | |||||||||||||
Noncurrent Regulatory Assets | (in millions) | |||||||||||||
Regulatory Assets Currently Not Earning a Return | ||||||||||||||
Storm-Related Costs (a) | $ | 21.2 | $ | 33.8 | ||||||||||
Total Regulatory Assets Pending Final Regulatory Approval | $ | 21.2 | $ | 33.8 |
OPCo | ||||||||||||||
June 30, | December 31, | |||||||||||||
2023 | 2022 | |||||||||||||
Noncurrent Regulatory Assets | (in millions) | |||||||||||||
Regulatory Assets Currently Not Earning a Return | ||||||||||||||
Storm-Related Costs (a) | $ | 52.7 | $ | 33.8 | ||||||||||
Other Regulatory Assets Pending Final Regulatory Approval | 0.1 | — | ||||||||||||
Total Regulatory Assets Pending Final Regulatory Approval | $ | 52.8 | $ | 33.8 |
PSO | PSO | |||||||||||||||||||||||||||
June 30, | December 31, | September 30, | December 31, | |||||||||||||||||||||||||
2023 | 2022 | 2023 | 2022 | |||||||||||||||||||||||||
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 (a) | Storm-Related Costs (a) | $ | 84.6 | $ | 25.5 | Storm-Related Costs (a) | $ | 92.8 | $ | 25.5 | ||||||||||||||||||
Other Regulatory Assets Pending Final Regulatory Approval | Other Regulatory Assets Pending Final Regulatory Approval | 0.2 | 0.1 | Other Regulatory Assets Pending Final Regulatory Approval | 0.2 | 0.1 | ||||||||||||||||||||||
Total Regulatory Assets Pending Final Regulatory Approval | Total Regulatory Assets Pending Final Regulatory Approval | $ | 84.8 | $ | 25.6 | Total Regulatory Assets Pending Final Regulatory Approval | $ | 93.0 | $ | 25.6 |
SWEPCo | SWEPCo | |||||||||||||||||||||||||||
June 30, | December 31, | September 30, | December 31, | |||||||||||||||||||||||||
2023 | 2022 | 2023 | 2022 | |||||||||||||||||||||||||
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 | ||||||||||||||||||||||||||
Pirkey Plant Accelerated Depreciation | $ | 111.8 | $ | 116.5 | ||||||||||||||||||||||||
Welsh Plant, Units 1 and 3 Accelerated Depreciation | Welsh Plant, Units 1 and 3 Accelerated Depreciation | $ | 115.5 | $ | 85.6 | |||||||||||||||||||||||
Pirkey Plant | Pirkey Plant | 113.0 | 116.5 | |||||||||||||||||||||||||
Unrecovered Winter Storm Fuel Costs (a) | Unrecovered Winter Storm Fuel Costs (a) | 109.5 | 121.7 | Unrecovered Winter Storm Fuel Costs (a) | 101.4 | 121.7 | ||||||||||||||||||||||
Welsh Plant, Units 1 and 3 Accelerated Depreciation | 105.4 | 85.6 | ||||||||||||||||||||||||||
Dolet Hills Power Station Fuel Costs - Louisiana | Dolet Hills Power Station Fuel Costs - Louisiana | 33.9 | 32.0 | Dolet Hills Power Station Fuel Costs - Louisiana | 34.7 | 32.0 | ||||||||||||||||||||||
Dolet Hills Power Station | Dolet Hills Power Station | 12.1 | 9.7 | Dolet Hills Power Station | 12.0 | 9.7 | ||||||||||||||||||||||
Other Regulatory Assets Pending Final Regulatory Approval | Other Regulatory Assets Pending Final Regulatory Approval | 1.9 | 2.5 | Other Regulatory Assets Pending Final Regulatory Approval | 1.7 | 2.5 | ||||||||||||||||||||||
Regulatory Assets Currently Not Earning a Return | Regulatory Assets Currently Not Earning a Return | Regulatory Assets Currently Not Earning a Return | ||||||||||||||||||||||||||
Storm-Related Costs (b)(c) | Storm-Related Costs (b)(c) | 48.0 | 151.5 | Storm-Related Costs (b)(c) | 53.4 | 151.5 | ||||||||||||||||||||||
Asset Retirement Obligation - Louisiana | Asset Retirement Obligation - Louisiana | — | 11.8 | Asset Retirement Obligation - Louisiana | — | 11.8 | ||||||||||||||||||||||
Other Regulatory Assets Pending Final Regulatory Approval | Other Regulatory Assets Pending Final Regulatory Approval | 15.9 | 16.0 | Other Regulatory Assets Pending Final Regulatory Approval | 14.8 | 16.0 | ||||||||||||||||||||||
Total Regulatory Assets Pending Final Regulatory Approval | Total Regulatory Assets Pending Final Regulatory Approval | $ | 438.5 | $ | 547.3 | Total Regulatory Assets Pending Final Regulatory Approval | $ | 446.5 | $ | 547.3 |
Jurisdiction | Jurisdiction | June 30, 2023 | December 31, 2022 | Approved Recovery Period | Approved Carrying Charge | Jurisdiction | September 30, 2023 | December 31, 2022 | Approved Recovery Period | Approved Carrying Charge | ||||||||||||||||||||||||||||||||||||||||||
(in millions) | (in millions) | |||||||||||||||||||||||||||||||||||||||||||||||||||
Arkansas | Arkansas | $ | 66.4 | $ | 74.9 | 6 years | (a) | Arkansas | $ | 59.4 | $ | 74.9 | 6 years | (a) | ||||||||||||||||||||||||||||||||||||||
Louisiana | Louisiana | 109.5 | 121.7 | (b) | (b) | Louisiana | 101.4 | 121.7 | (b) | (b) | ||||||||||||||||||||||||||||||||||||||||||
Texas | Texas | 117.8 | 132.4 | 5 years | 1.65% | Texas | 108.6 | 132.4 | 5 years | 1.65% | ||||||||||||||||||||||||||||||||||||||||||
Total | Total | $ | 293.7 | $ | 329.0 | Total | $ | 269.4 | $ | 329.0 |
Company | Amount | Maturity | ||||||||||||
(in millions) | ||||||||||||||
AEP | $ | |||||||||||||
AEP Texas | 1.8 | July | ||||||||||||
APCo | 6.3 | September 2024 | ||||||||||||
I&M | 2.9 | September 2024 |
Company | Maximum Potential Loss | |||||||
(in millions) | ||||||||
AEP | $ | |||||||
AEP Texas | 10.9 | |||||||
APCo | 5.6 | |||||||
I&M | 4.2 | |||||||
OPCo | ||||||||
PSO | 4.7 | |||||||
SWEPCo |
Three Months Ended June 30, 2023 | AEP | AEP Texas | APCo | I&M | OPCo | PSO | SWEPCo | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Three Months Ended September 30, 2023 | Three Months Ended September 30, 2023 | AEP | AEP Texas | APCo | I&M | OPCo | PSO | SWEPCo | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(in millions) | (in millions) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Service Cost | Service Cost | $ | 23.6 | $ | 2.1 | $ | 2.2 | $ | 3.0 | $ | 2.1 | $ | 1.4 | $ | 1.9 | Service Cost | $ | 23.6 | $ | 2.1 | $ | 2.3 | $ | 2.9 | $ | 2.1 | $ | 1.4 | $ | 2.0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Cost | Interest Cost | 54.8 | 4.6 | 6.6 | 6.2 | 5.0 | 2.7 | 3.5 | Interest Cost | 54.8 | 4.5 | 6.6 | 6.3 | 5.0 | 2.7 | 3.4 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Expected Return on Plan Assets | Expected Return on Plan Assets | (84.8) | (7.0) | (11.1) | (11.1) | (8.5) | (4.6) | (4.9) | Expected Return on Plan Assets | (84.8) | (7.0) | (11.2) | (11.0) | (8.6) | (4.6) | (4.8) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amortization of Net Actuarial Loss | Amortization of Net Actuarial Loss | 0.4 | — | — | — | — | — | — | Amortization of Net Actuarial Loss | 0.3 | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net Periodic Benefit Cost (Credit) | Net Periodic Benefit Cost (Credit) | $ | (6.0) | $ | (0.3) | $ | (2.3) | $ | (1.9) | $ | (1.4) | $ | (0.5) | $ | 0.5 | Net Periodic Benefit Cost (Credit) | $ | (6.1) | $ | (0.4) | $ | (2.3) | $ | (1.8) | $ | (1.5) | $ | (0.5) | $ | 0.6 |
Three Months Ended June 30, 2022 | AEP | AEP Texas | APCo | I&M | OPCo | PSO | SWEPCo | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Three Months Ended September 30, 2022 | Three Months Ended September 30, 2022 | AEP | AEP Texas | APCo | I&M | OPCo | PSO | SWEPCo | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(in millions) | (in millions) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Service Cost | Service Cost | $ | 30.8 | $ | 2.8 | $ | 2.8 | $ | 4.1 | $ | 2.9 | $ | 1.8 | $ | 2.7 | Service Cost | $ | 30.7 | $ | 2.8 | $ | 2.9 | $ | 4.0 | $ | 2.8 | $ | 1.8 | $ | 2.7 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Cost | Interest Cost | 37.1 | 3.0 | 4.4 | 4.2 | 3.2 | 1.7 | 2.3 | Interest Cost | 37.1 | 3.1 | 4.3 | 4.3 | 3.4 | 1.8 | 2.2 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Expected Return on Plan Assets | Expected Return on Plan Assets | (63.3) | (5.2) | (8.1) | (8.1) | (6.2) | (3.4) | (3.6) | Expected Return on Plan Assets | (63.4) | (5.3) | (8.1) | (8.1) | (6.2) | (3.3) | (3.6) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amortization of Net Actuarial Loss | Amortization of Net Actuarial Loss | 15.7 | 1.3 | 1.8 | 1.7 | 1.4 | 0.8 | 0.9 | Amortization of Net Actuarial Loss | 15.8 | 1.2 | 1.9 | 1.8 | 1.3 | 0.7 | 0.9 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net Periodic Benefit Cost | Net Periodic Benefit Cost | $ | 20.3 | $ | 1.9 | $ | 0.9 | $ | 1.9 | $ | 1.3 | $ | 0.9 | $ | 2.3 | Net Periodic Benefit Cost | $ | 20.2 | $ | 1.8 | $ | 1.0 | $ | 2.0 | $ | 1.3 | $ | 1.0 | $ | 2.2 |
Six Months Ended June 30, 2023 | AEP | AEP Texas | APCo | I&M | OPCo | PSO | SWEPCo | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Nine Months Ended September 30, 2023 | Nine Months Ended September 30, 2023 | AEP | AEP Texas | APCo | I&M | OPCo | PSO | SWEPCo | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(in millions) | (in millions) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Service Cost | Service Cost | $ | 47.2 | $ | 4.1 | $ | 4.5 | $ | 6.0 | $ | 4.2 | $ | 2.8 | $ | 3.8 | Service Cost | $ | 70.8 | $ | 6.2 | $ | 6.8 | $ | 8.9 | $ | 6.3 | $ | 4.2 | $ | 5.8 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Cost | Interest Cost | 109.6 | 9.2 | 13.2 | 12.4 | 9.9 | 5.4 | 7.0 | Interest Cost | 164.4 | 13.7 | 19.8 | 18.7 | 14.9 | 8.1 | 10.4 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Expected Return on Plan Assets | Expected Return on Plan Assets | (169.6) | (14.0) | (22.3) | (22.1) | (17.0) | (9.2) | (9.7) | Expected Return on Plan Assets | (254.4) | (21.0) | (33.5) | (33.1) | (25.6) | (13.8) | (14.5) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amortization of Net Actuarial Loss | Amortization of Net Actuarial Loss | 0.7 | — | — | — | — | — | — | Amortization of Net Actuarial Loss | 1.0 | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net Periodic Benefit Cost (Credit) | Net Periodic Benefit Cost (Credit) | $ | (12.1) | $ | (0.7) | $ | (4.6) | $ | (3.7) | $ | (2.9) | $ | (1.0) | $ | 1.1 | Net Periodic Benefit Cost (Credit) | $ | (18.2) | $ | (1.1) | $ | (6.9) | $ | (5.5) | $ | (4.4) | $ | (1.5) | $ | 1.7 |
Six Months Ended June 30, 2022 | AEP | AEP Texas | APCo | I&M | OPCo | PSO | SWEPCo | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Nine Months Ended September 30, 2022 | Nine Months Ended September 30, 2022 | AEP | AEP Texas | APCo | I&M | OPCo | PSO | SWEPCo | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(in millions) | (in millions) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Service Cost | Service Cost | $ | 61.6 | $ | 5.6 | $ | 5.7 | $ | 8.1 | $ | 5.6 | $ | 3.7 | $ | 5.3 | Service Cost | $ | 92.3 | $ | 8.4 | $ | 8.6 | $ | 12.1 | $ | 8.4 | $ | 5.5 | $ | 8.0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Cost | Interest Cost | 74.1 | 6.0 | 8.8 | 8.4 | 6.6 | 3.5 | 4.6 | Interest Cost | 111.2 | 9.1 | 13.1 | 12.7 | 10.0 | 5.3 | 6.8 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Expected Return on Plan Assets | Expected Return on Plan Assets | (126.7) | (10.5) | (16.2) | (16.1) | (12.4) | (6.8) | (7.3) | Expected Return on Plan Assets | (190.1) | (15.8) | (24.3) | (24.2) | (18.6) | (10.1) | (10.9) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amortization of Net Actuarial Loss | Amortization of Net Actuarial Loss | 31.5 | 2.6 | 3.6 | 3.5 | 2.8 | 1.5 | 1.9 | Amortization of Net Actuarial Loss | 47.3 | 3.8 | 5.5 | 5.3 | 4.1 | 2.2 | 2.8 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net Periodic Benefit Cost | Net Periodic Benefit Cost | $ | 40.5 | $ | 3.7 | $ | 1.9 | $ | 3.9 | $ | 2.6 | $ | 1.9 | $ | 4.5 | Net Periodic Benefit Cost | $ | 60.7 | $ | 5.5 | $ | 2.9 | $ | 5.9 | $ | 3.9 | $ | 2.9 | $ | 6.7 |
Three Months Ended June 30, 2023 | AEP | AEP Texas | APCo | I&M | OPCo | PSO | SWEPCo | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Three Months Ended September 30, 2023 | Three Months Ended September 30, 2023 | AEP | AEP Texas | APCo | I&M | OPCo | PSO | SWEPCo | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(in millions) | (in millions) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Service Cost | Service Cost | $ | 1.2 | $ | 0.1 | $ | 0.2 | $ | 0.2 | $ | 0.1 | $ | — | $ | 0.1 | Service Cost | $ | 1.1 | $ | 0.1 | $ | 0.1 | $ | 0.1 | $ | 0.1 | $ | 0.1 | $ | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Cost | Interest Cost | 11.5 | 0.9 | 1.9 | 1.4 | 1.1 | 0.6 | 0.7 | Interest Cost | 11.6 | 0.9 | 1.8 | 1.3 | 1.2 | 0.6 | 0.8 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Expected Return on Plan Assets | Expected Return on Plan Assets | (27.4) | (2.2) | (4.0) | (3.4) | (3.0) | (1.4) | (1.8) | Expected Return on Plan Assets | (27.4) | (2.2) | (4.0) | (3.3) | (2.9) | (1.5) | (1.8) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amortization of Prior Service Credit | Amortization of Prior Service Credit | (15.7) | (1.4) | (2.3) | (2.1) | (1.5) | (1.0) | (1.2) | Amortization of Prior Service Credit | (15.8) | (1.3) | (2.3) | (2.2) | (1.6) | (1.0) | (1.3) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amortization of Net Actuarial Loss | Amortization of Net Actuarial Loss | 3.7 | 0.3 | 0.5 | 0.4 | 0.4 | 0.2 | 0.3 | Amortization of Net Actuarial Loss | 3.7 | 0.3 | 0.6 | 0.5 | 0.4 | 0.2 | 0.3 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net Periodic Benefit Credit | Net Periodic Benefit Credit | $ | (26.7) | $ | (2.3) | $ | (3.7) | $ | (3.5) | $ | (2.9) | $ | (1.6) | $ | (1.9) | Net Periodic Benefit Credit | $ | (26.8) | $ | (2.2) | $ | (3.8) | $ | (3.6) | $ | (2.8) | $ | (1.6) | $ | (2.0) |
Three Months Ended June 30, 2022 | AEP | AEP Texas | APCo | I&M | OPCo | PSO | SWEPCo | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Three Months Ended September 30, 2022 | Three Months Ended September 30, 2022 | AEP | AEP Texas | APCo | I&M | OPCo | PSO | SWEPCo | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(in millions) | (in millions) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Service Cost | Service Cost | $ | 1.9 | $ | 0.1 | $ | 0.2 | $ | 0.3 | $ | 0.1 | $ | 0.1 | $ | 0.2 | Service Cost | $ | 1.8 | $ | 0.1 | $ | 0.2 | $ | 0.2 | $ | 0.2 | $ | 0.2 | $ | 0.1 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Cost | Interest Cost | 7.3 | 0.5 | 1.1 | 0.9 | 0.8 | 0.3 | 0.4 | Interest Cost | 7.3 | 0.6 | 1.2 | 0.8 | 0.7 | 0.4 | 0.5 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Expected Return on Plan Assets | Expected Return on Plan Assets | (27.5) | (2.2) | (4.0) | (3.5) | (2.9) | (1.5) | (1.8) | Expected Return on Plan Assets | (27.5) | (2.3) | (4.1) | (3.3) | (3.0) | (1.6) | (1.8) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amortization of Prior Service Credit | Amortization of Prior Service Credit | (17.9) | (1.5) | (2.6) | (2.5) | (1.8) | (1.1) | (1.3) | Amortization of Prior Service Credit | (17.9) | (1.5) | (2.6) | (2.4) | (1.8) | (1.1) | (1.4) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net Periodic Benefit Credit | Net Periodic Benefit Credit | $ | (36.2) | $ | (3.1) | $ | (5.3) | $ | (4.8) | $ | (3.8) | $ | (2.2) | $ | (2.5) | Net Periodic Benefit Credit | $ | (36.3) | $ | (3.1) | $ | (5.3) | $ | (4.7) | $ | (3.9) | $ | (2.1) | $ | (2.6) |
Six Months Ended June 30, 2023 | AEP | AEP Texas | APCo | I&M | OPCo | PSO | SWEPCo | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Nine Months Ended September 30, 2023 | Nine Months Ended September 30, 2023 | AEP | AEP Texas | APCo | I&M | OPCo | PSO | SWEPCo | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(in millions) | (in millions) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Service Cost | Service Cost | $ | 2.3 | $ | 0.2 | $ | 0.3 | $ | 0.4 | $ | 0.2 | $ | 0.1 | $ | 0.2 | Service Cost | $ | 3.4 | $ | 0.3 | $ | 0.4 | $ | 0.5 | $ | 0.3 | $ | 0.2 | $ | 0.2 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Cost | Interest Cost | 23.1 | 1.8 | 3.7 | 2.7 | 2.3 | 1.2 | 1.4 | Interest Cost | 34.7 | 2.7 | 5.5 | 4.0 | 3.5 | 1.8 | 2.2 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Expected Return on Plan Assets | Expected Return on Plan Assets | (54.8) | (4.5) | (8.0) | (6.8) | (5.9) | (2.9) | (3.6) | Expected Return on Plan Assets | (82.2) | (6.7) | (12.0) | (10.1) | (8.8) | (4.4) | (5.4) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amortization of Prior Service Credit | Amortization of Prior Service Credit | (31.5) | (2.7) | (4.6) | (4.3) | (3.1) | (2.0) | (2.4) | Amortization of Prior Service Credit | (47.3) | (4.0) | (6.9) | (6.5) | (4.7) | (3.0) | (3.7) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amortization of Net Actuarial Loss | Amortization of Net Actuarial Loss | 7.4 | 0.6 | 1.1 | 0.9 | 0.8 | 0.4 | 0.5 | Amortization of Net Actuarial Loss | 11.1 | 0.9 | 1.7 | 1.4 | 1.2 | 0.6 | 0.8 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net Periodic Benefit Credit | Net Periodic Benefit Credit | $ | (53.5) | $ | (4.6) | $ | (7.5) | $ | (7.1) | $ | (5.7) | $ | (3.2) | $ | (3.9) | Net Periodic Benefit Credit | $ | (80.3) | $ | (6.8) | $ | (11.3) | $ | (10.7) | $ | (8.5) | $ | (4.8) | $ | (5.9) |
Six Months Ended June 30, 2022 | AEP | AEP Texas | APCo | I&M | OPCo | PSO | SWEPCo | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Nine Months Ended September 30, 2022 | Nine Months Ended September 30, 2022 | AEP | AEP Texas | APCo | I&M | OPCo | PSO | SWEPCo | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(in millions) | (in millions) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Service Cost | Service Cost | $ | 3.7 | $ | 0.2 | $ | 0.4 | $ | 0.5 | $ | 0.3 | $ | 0.2 | $ | 0.3 | Service Cost | $ | 5.5 | $ | 0.3 | $ | 0.6 | $ | 0.7 | $ | 0.5 | $ | 0.4 | $ | 0.4 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Cost | Interest Cost | 14.6 | 1.1 | 2.3 | 1.7 | 1.5 | 0.7 | 0.9 | Interest Cost | 21.9 | 1.7 | 3.5 | 2.5 | 2.2 | 1.1 | 1.4 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Expected Return on Plan Assets | Expected Return on Plan Assets | (55.0) | (4.5) | (8.1) | (6.9) | (5.9) | (3.0) | (3.7) | Expected Return on Plan Assets | (82.5) | (6.8) | (12.2) | (10.2) | (8.9) | (4.6) | (5.5) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amortization of Prior Service Credit | Amortization of Prior Service Credit | (35.7) | (3.0) | (5.2) | (4.9) | (3.6) | (2.2) | (2.6) | Amortization of Prior Service Credit | (53.6) | (4.5) | (7.8) | (7.3) | (5.4) | (3.3) | (4.0) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net Periodic Benefit Credit | Net Periodic Benefit Credit | $ | (72.4) | $ | (6.2) | $ | (10.6) | $ | (9.6) | $ | (7.7) | $ | (4.3) | $ | (5.1) | Net Periodic Benefit Credit | $ | (108.7) | $ | (9.3) | $ | (15.9) | $ | (14.3) | $ | (11.6) | $ | (6.4) | $ | (7.7) |
Three Months Ended June 30, 2023 | Three Months Ended September 30, 2023 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | $ | 2,629.0 | $ | 1,330.8 | $ | 88.3 | $ | 318.2 | $ | 6.2 | $ | — | $ | 4,372.5 | External Customers | $ | 3,158.1 | $ | 1,535.2 | $ | 94.0 | $ | 527.5 | $ | 26.9 | $ | — | $ | 5,341.7 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Operating Segments | Other Operating Segments | 45.5 | 9.4 | 370.3 | 13.2 | 25.8 | (464.2) | — | Other Operating Segments | 47.3 | 8.9 | 382.7 | 39.2 | 30.3 | (508.4) | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Revenues | Total Revenues | $ | 2,674.5 | $ | 1,340.2 | $ | 458.6 | $ | 331.4 | $ | 32.0 | $ | (464.2) | $ | 4,372.5 | Total Revenues | $ | 3,205.4 | $ | 1,544.1 | $ | 476.7 | $ | 566.7 | $ | 57.2 | $ | (508.4) | $ | 5,341.7 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Net Income (Loss) | Net Income (Loss) | $ | 278.4 | $ | 176.7 | $ | 197.3 | $ | (38.6) | $ | (97.7) | $ | — | $ | 516.1 | Net Income (Loss) | $ | 514.0 | $ | 206.0 | $ | 203.9 | $ | 132.8 | $ | (98.4) | $ | — | $ | 958.3 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Three Months Ended June 30, 2022 | Three Months Ended September 30, 2022 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | $ | 2,595.0 | $ | 1,296.8 | $ | 79.1 | $ | 654.4 | $ | 14.4 | $ | — | $ | 4,639.7 | External Customers | $ | 3,174.6 | $ | 1,525.5 | $ | 81.9 | $ | 733.1 | $ | 11.0 | $ | — | $ | 5,526.1 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Operating Segments | Other Operating Segments | 53.5 | 4.8 | 299.7 | 5.2 | 10.1 | (373.3) | — | Other Operating Segments | 51.7 | 4.7 | 349.0 | 2.3 | 17.3 | (425.0) | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Revenues | Total Revenues | $ | 2,648.5 | $ | 1,301.6 | $ | 378.8 | $ | 659.6 | $ | 24.5 | $ | (373.3) | $ | 4,639.7 | Total Revenues | $ | 3,226.3 | $ | 1,530.2 | $ | 430.9 | $ | 735.4 | $ | 28.3 | $ | (425.0) | $ | 5,526.1 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Net Income (Loss) | Net Income (Loss) | $ | 303.3 | $ | 164.8 | $ | 142.7 | $ | 65.9 | $ | (155.9) | $ | — | $ | 520.8 | Net Income (Loss) | $ | 476.9 | $ | 165.5 | $ | 171.4 | $ | 96.2 | $ | (226.7) | $ | — | $ | 683.3 |
Six Months Ended June 30, 2023 | Nine Months Ended September 30, 2023 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | $ | 5,445.3 | $ | 2,786.1 | $ | 178.4 | $ | 645.1 | $ | 8.5 | $ | — | $ | 9,063.4 | External Customers | $ | 8,603.4 | $ | 4,321.3 | $ | 272.4 | $ | 1,172.6 | $ | 35.4 | $ | — | $ | 14,405.1 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Operating Segments | Other Operating Segments | 87.0 | 18.3 | 735.7 | 13.3 | 53.6 | (907.9) | — | Other Operating Segments | 134.3 | 27.2 | 1,118.4 | 52.5 | 83.9 | (1,416.3) | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Revenues | Total Revenues | $ | 5,532.3 | $ | 2,804.4 | $ | 914.1 | $ | 658.4 | $ | 62.1 | $ | (907.9) | $ | 9,063.4 | Total Revenues | $ | 8,737.7 | $ | 4,348.5 | $ | 1,390.8 | $ | 1,225.1 | $ | 119.3 | $ | (1,416.3) | $ | 14,405.1 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Net Income (Loss) | Net Income (Loss) | $ | 540.6 | $ | 302.4 | $ | 379.7 | $ | (195.0) | $ | (111.2) | $ | — | $ | 916.5 | Net Income (Loss) | $ | 1,054.6 | $ | 508.4 | $ | 583.6 | $ | (62.2) | $ | (209.6) | $ | — | $ | 1,874.8 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Six Months Ended June 30, 2022 | Nine Months Ended September 30, 2022 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | $ | 5,241.8 | $ | 2,539.0 | $ | 162.5 | $ | 1,263.9 | $ | 25.1 | $ | — | $ | 9,232.3 | External Customers | $ | 8,416.4 | $ | 4,064.5 | $ | 244.4 | $ | 1,997.0 | $ | 36.1 | $ | — | $ | 14,758.4 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Operating Segments | Other Operating Segments | 94.1 | 9.4 | 627.7 | 15.0 | 19.3 | (765.5) | — | Other Operating Segments | 145.8 | 14.1 | 976.7 | 17.3 | 36.6 | (1,190.5) | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Revenues | Total Revenues | $ | 5,335.9 | $ | 2,548.4 | $ | 790.2 | $ | 1,278.9 | $ | 44.4 | $ | (765.5) | $ | 9,232.3 | Total Revenues | $ | 8,562.2 | $ | 4,078.6 | $ | 1,221.1 | $ | 2,014.3 | $ | 72.7 | $ | (1,190.5) | $ | 14,758.4 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Net Income (Loss) | Net Income (Loss) | $ | 602.5 | $ | 317.6 | $ | 316.4 | $ | 181.9 | $ | (179.5) | $ | — | $ | 1,238.9 | Net Income (Loss) | $ | 1,079.4 | $ | 483.1 | $ | 487.8 | $ | 278.1 | $ | (406.2) | $ | — | $ | 1,922.2 |
June 30, 2023 | ||||||||||||||||||||||||||||||||||||||||||||
Vertically Integrated Utilities | Transmission and Distribution Utilities | AEP Transmission Holdco | Generation & Marketing | Corporate and Other (a) | Reconciling Adjustments | Consolidated | ||||||||||||||||||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||||||||||||||||||||||
Total Assets (d) | $ | 51,047.3 | $ | 23,900.0 | $ | 16,023.5 | $ | 4,457.9 | $ | 6,451.4 | (b) | $ | (5,878.0) | (c) | $ | 96,002.1 | ||||||||||||||||||||||||||||
September 30, 2023 | ||||||||||||||||||||||||||||||||||||||||||||
Vertically Integrated Utilities | Transmission and Distribution Utilities | AEP Transmission Holdco | Generation & Marketing | Corporate and Other (a) | Reconciling Adjustments | Consolidated | ||||||||||||||||||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||||||||||||||||||||||
Total Assets | $ | 50,940.3 | $ | 24,327.9 | $ | 16,155.0 | $ | 2,517.0 | $ | 4,567.2 | (b) | $ | (3,381.8) | (c) | $ | 95,125.6 | ||||||||||||||||||||||||||||
December 31, 2022 | ||||||||||||||||||||||||||||||||||||||||||||
Vertically Integrated Utilities | Transmission and Distribution Utilities | AEP Transmission Holdco | Generation & Marketing | Corporate and Other (a) | Reconciling Adjustments | Consolidated | ||||||||||||||||||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||||||||||||||||||||||
Total Assets | $ | 49,761.8 | $ | 22,920.2 | $ | 15,215.8 | $ | 4,520.1 | $ | 6,768.4 | (b) | $ | (5,783.0) | (c) | $ | 93,403.3 | ||||||||||||||||||||||||||||
Three Months Ended June 30, 2023 | |||||||||||||||||||||||
State Transcos | AEPTCo Parent | Reconciling Adjustments | AEPTCo Consolidated | ||||||||||||||||||||
(in millions) | |||||||||||||||||||||||
Revenues from: | |||||||||||||||||||||||
External Customers | $ | 87.4 | $ | — | $ | — | $ | 87.4 | |||||||||||||||
Sales to AEP Affiliates | 357.5 | — | — | 357.5 | |||||||||||||||||||
Total Revenues | $ | 444.9 | $ | — | $ | — | $ | 444.9 | |||||||||||||||
Net Income | $ | 174.2 | $ | 1.5 | (a) | $ | — | $ | 175.7 | ||||||||||||||
Three Months Ended June 30, 2022 | |||||||||||||||||||||||
State Transcos | AEPTCo Parent | Reconciling Adjustments | AEPTCo Consolidated | ||||||||||||||||||||
(in millions) | |||||||||||||||||||||||
Revenues from: | |||||||||||||||||||||||
External Customers | $ | 77.3 | $ | — | $ | — | $ | 77.3 | |||||||||||||||
Sales to AEP Affiliates | 287.1 | — | — | 287.1 | |||||||||||||||||||
Total Revenues | $ | 364.4 | $ | — | $ | — | $ | 364.4 | |||||||||||||||
Net Income | $ | 118.4 | $ | 0.1 | (a) | $ | — | $ | 118.5 |
Six Months Ended June 30, 2023 | Three Months Ended September 30, 2023 | |||||||||||||||||||||||||||||||||||||||||||||
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 | $ | 176.4 | $ | — | $ | — | $ | 176.4 | External Customers | $ | 92.8 | $ | — | $ | — | $ | 92.8 | ||||||||||||||||||||||||||||
Sales to AEP Affiliates | Sales to AEP Affiliates | 710.1 | — | — | 710.1 | Sales to AEP Affiliates | 369.9 | — | — | 369.9 | ||||||||||||||||||||||||||||||||||||
Total Revenues | Total Revenues | $ | 886.5 | $ | — | $ | — | $ | 886.5 | Total Revenues | $ | 462.7 | $ | — | $ | — | $ | 462.7 | ||||||||||||||||||||||||||||
Net Income | Net Income | $ | 335.8 | $ | 2.6 | (a) | $ | — | $ | 338.4 | Net Income | $ | 178.2 | $ | 1.0 | (a) | $ | — | $ | 179.2 | ||||||||||||||||||||||||||
Six Months Ended June 30, 2022 | Three Months Ended September 30, 2022 | |||||||||||||||||||||||||||||||||||||||||||||
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 | $ | 162.3 | $ | — | $ | — | $ | 162.3 | External Customers | $ | 87.2 | $ | — | $ | — | $ | 87.2 | ||||||||||||||||||||||||||||
Sales to AEP Affiliates | Sales to AEP Affiliates | 602.5 | — | — | 602.5 | Sales to AEP Affiliates | 331.3 | — | — | 331.3 | ||||||||||||||||||||||||||||||||||||
Total Revenues | Total Revenues | $ | 764.8 | $ | — | $ | — | $ | 764.8 | Total Revenues | $ | 418.5 | $ | — | $ | — | $ | 418.5 | ||||||||||||||||||||||||||||
Net Income | Net Income | $ | 273.8 | $ | 0.1 | (a) | $ | — | $ | 273.9 | Net Income | $ | 152.6 | $ | 0.1 | (a) | $ | — | $ | 152.7 |
June 30, 2023 | |||||||||||||||||||||||
State Transcos | AEPTCo Parent | Reconciling Adjustments | AEPTCo Consolidated | ||||||||||||||||||||
(in millions) | |||||||||||||||||||||||
Total Assets | $ | 14,626.3 | $ | 5,542.1 | (b) | $ | (5,591.9) | (c) | $ | 14,576.5 | |||||||||||||
December 31, 2022 | |||||||||||||||||||||||
State Transcos | AEPTCo Parent | Reconciling Adjustments | AEPTCo Consolidated | ||||||||||||||||||||
(in millions) | |||||||||||||||||||||||
Total Assets | $ | 13,875.6 | $ | 4,817.4 | (b) | $ | (4,878.8) | (c) | $ | 13,814.2 | |||||||||||||
Nine Months Ended September 30, 2023 | |||||||||||||||||||||||
State Transcos | AEPTCo Parent | Reconciling Adjustments | AEPTCo Consolidated | ||||||||||||||||||||
(in millions) | |||||||||||||||||||||||
Revenues from: | |||||||||||||||||||||||
External Customers | $ | 269.2 | $ | — | $ | — | $ | 269.2 | |||||||||||||||
Sales to AEP Affiliates | 1,080.0 | — | — | 1,080.0 | |||||||||||||||||||
Total Revenues | $ | 1,349.2 | $ | — | $ | — | $ | 1,349.2 | |||||||||||||||
Net Income | $ | 514.0 | $ | 3.6 | (a) | $ | — | $ | 517.6 | ||||||||||||||
Nine Months Ended September 30, 2022 | |||||||||||||||||||||||
State Transcos | AEPTCo Parent | Reconciling Adjustments | AEPTCo Consolidated | ||||||||||||||||||||
(in millions) | |||||||||||||||||||||||
Revenues from: | |||||||||||||||||||||||
External Customers | $ | 249.5 | $ | — | $ | — | $ | 249.5 | |||||||||||||||
Sales to AEP Affiliates | 933.8 | — | — | 933.8 | |||||||||||||||||||
Total Revenues | $ | 1,183.3 | $ | — | $ | — | $ | 1,183.3 | |||||||||||||||
Net Income | $ | 426.4 | $ | 0.2 | (a) | $ | — | $ | 426.6 |
September 30, 2023 | |||||||||||||||||||||||
State Transcos | AEPTCo Parent | Reconciling Adjustments | AEPTCo Consolidated | ||||||||||||||||||||
(in millions) | |||||||||||||||||||||||
Total Assets | $ | 14,760.8 | $ | 5,561.2 | (b) | $ | (5,610.0) | (c) | $ | 14,712.0 | |||||||||||||
December 31, 2022 | |||||||||||||||||||||||
State Transcos | AEPTCo Parent | Reconciling Adjustments | AEPTCo Consolidated | ||||||||||||||||||||
(in millions) | |||||||||||||||||||||||
Total Assets | $ | 13,875.6 | $ | 4,817.4 | (b) | $ | (4,878.8) | (c) | $ | 13,814.2 | |||||||||||||
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 | 269.9 | — | 29.1 | 9.2 | 2.3 | 8.7 | 6.9 | Power | MWhs | 262.3 | — | 28.4 | 9.0 | 2.3 | 5.6 | 4.4 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Natural Gas | Natural Gas | MMBtus | 136.8 | — | 5.2 | — | — | 28.3 | 7.3 | Natural Gas | MMBtus | 149.8 | — | 27.3 | — | — | 25.3 | 13.1 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Heating Oil and Gasoline | Heating Oil and Gasoline | Gallons | 6.7 | 1.8 | 1.0 | 0.6 | 1.4 | 0.9 | 0.9 | Heating Oil and Gasoline | Gallons | 8.3 | 2.2 | 1.3 | 0.8 | 1.7 | 1.1 | 1.2 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate | Interest Rate | USD | $ | 91.4 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | Interest Rate | USD | $ | 80.1 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Rate on Long-term Debt | Interest Rate on Long-term Debt | USD | $ | 950.0 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | Interest Rate on Long-term Debt | USD | $ | 950.0 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — |
Primary Risk Exposure | Unit of Measure | AEP | AEP Texas | APCo | I&M | OPCo | PSO | SWEPCo | ||||||||||||||||||||||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Commodity: | ||||||||||||||||||||||||||||||||||||||||||||||||||
Power | MWhs | 226.8 | — | 17.9 | 4.2 | 2.5 | 2.9 | 2.2 | ||||||||||||||||||||||||||||||||||||||||||
Natural Gas | MMBtus | 77.1 | — | 1.9 | — | — | 1.9 | 2.1 | ||||||||||||||||||||||||||||||||||||||||||
Heating Oil and Gasoline | Gallons | 6.9 | 1.9 | 1.0 | 0.7 | 1.4 | 0.9 | 1.0 | ||||||||||||||||||||||||||||||||||||||||||
Interest Rate | USD | $ | 99.9 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||||||||||||||||||||
Interest Rate on Long-term Debt | USD | $ | 1,650.0 | $ | — | $ | — | $ | — | $ | — | $ | 200.0 | $ | — | |||||||||||||||||||||||||||||||||||
June 30, 2023 | September 30, 2023 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | $ | 721.6 | $ | 43.4 | $ | — | $ | 765.0 | $ | (485.5) | $ | 279.5 | Current Risk Management Assets | $ | 595.7 | $ | 55.6 | $ | — | $ | 651.3 | $ | (388.6) | $ | 262.7 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Long-term Risk Management Assets | Long-term Risk Management Assets | 466.4 | 95.1 | — | 561.5 | (294.7) | 266.8 | Long-term Risk Management Assets | 465.3 | 83.3 | — | 548.6 | (258.4) | 290.2 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Assets | Total Assets | 1,188.0 | 138.5 | — | 1,326.5 | (780.2) | 546.3 | Total Assets | 1,061.0 | 138.9 | — | 1,199.9 | (647.0) | 552.9 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Current Risk Management Liabilities | Current Risk Management Liabilities | 631.5 | 12.8 | 42.6 | 686.9 | (510.7) | 176.2 | Current Risk Management Liabilities | 460.3 | 9.9 | 43.2 | 513.4 | (361.9) | 151.5 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Long-term Risk Management Liabilities | Long-term Risk Management Liabilities | 418.5 | 6.7 | 82.1 | 507.3 | (232.0) | 275.3 | Long-term Risk Management Liabilities | 374.8 | 1.2 | 94.9 | 470.9 | (192.5) | 278.4 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Liabilities | Total Liabilities | 1,050.0 | 19.5 | 124.7 | 1,194.2 | (742.7) | 451.5 | Total Liabilities | 835.1 | 11.1 | 138.1 | 984.3 | (554.4) | 429.9 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total MTM Derivative Contract Net Assets (Liabilities) | Total MTM Derivative Contract Net Assets (Liabilities) | $ | 138.0 | $ | 119.0 | $ | (124.7) | $ | 132.3 | $ | (37.5) | $ | 94.8 | Total MTM Derivative Contract Net Assets (Liabilities) | $ | 225.9 | $ | 127.8 | $ | (138.1) | $ | 215.6 | $ | (92.6) | $ | 123.0 |
December 31, 2022 | ||||||||||||||||||||||||||||||||||||||
Risk Management Contracts | Hedging Contracts | Gross Amounts of Risk Management Assets/ Liabilities Recognized | Gross Amounts Offset in the Statement of Financial Position (b) | Net Amounts of Assets/Liabilities Presented in the Statement of Financial Position (c) | ||||||||||||||||||||||||||||||||||
Balance Sheet Location | Commodity (a) | Commodity (a) | Interest Rate (a) | |||||||||||||||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||||||||||||||||
Current Risk Management Assets | $ | 965.4 | $ | 212.2 | $ | 1.8 | $ | 1,179.4 | $ | (830.6) | $ | 348.8 | ||||||||||||||||||||||||||
Long-term Risk Management Assets | 565.6 | 148.9 | 14.3 | 728.8 | (444.7) | 284.1 | ||||||||||||||||||||||||||||||||
Total Assets | 1,531.0 | 361.1 | 16.1 | 1,908.2 | (1,275.3) | 632.9 | ||||||||||||||||||||||||||||||||
Current Risk Management Liabilities | 663.8 | 60.4 | 41.4 | 765.6 | (620.4) | 145.2 | ||||||||||||||||||||||||||||||||
Long-term Risk Management Liabilities | 412.0 | 17.4 | 91.1 | 520.5 | (175.3) | 345.2 | ||||||||||||||||||||||||||||||||
Total Liabilities | 1,075.8 | 77.8 | 132.5 | 1,286.1 | (795.7) | 490.4 | ||||||||||||||||||||||||||||||||
Total MTM Derivative Contract Net Assets (Liabilities) | $ | 455.2 | $ | 283.3 | $ | (116.4) | $ | 622.1 | $ | (479.6) | $ | 142.5 |
June 30, 2023 | September 30, 2023 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | $ | — | $ | — | $ | — | Current Risk Management Assets | $ | 0.4 | $ | — | $ | 0.4 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Long-term Risk Management Assets | Long-term Risk Management Assets | — | — | — | Long-term Risk Management Assets | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Assets | Total Assets | — | — | — | Total Assets | 0.4 | — | 0.4 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Current Risk Management Liabilities | Current Risk Management Liabilities | 0.4 | (0.4) | — | Current Risk Management Liabilities | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Long-term Risk Management Liabilities | Long-term Risk Management Liabilities | 0.1 | (0.1) | — | Long-term Risk Management Liabilities | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Liabilities | Total Liabilities | 0.5 | (0.5) | — | Total Liabilities | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total MTM Derivative Contract Net Assets (Liabilities) | $ | (0.5) | $ | 0.5 | $ | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total MTM Derivative Contract Net Assets | Total MTM Derivative Contract Net Assets | $ | 0.4 | $ | — | $ | 0.4 |
December 31, 2022 | ||||||||||||||||||||
Risk Management | Gross Amounts Offset | Net Amounts of Assets/Liabilities | ||||||||||||||||||
Contracts – | in the Statement of | Presented in the Statement of | ||||||||||||||||||
Balance Sheet Location | Commodity (a) | Financial Position (b) | Financial Position (c) | |||||||||||||||||
(in millions) | ||||||||||||||||||||
Current Risk Management Assets | $ | — | $ | — | $ | — | ||||||||||||||
Long-term Risk Management Assets | — | — | — | |||||||||||||||||
Total Assets | — | — | — | |||||||||||||||||
Current Risk Management Liabilities | — | — | — | |||||||||||||||||
Long-term Risk Management Liabilities | — | — | — | |||||||||||||||||
Total Liabilities | — | — | — | |||||||||||||||||
Total MTM Derivative Contract Net Assets | $ | — | $ | — | $ | — |
June 30, 2023 | September 30, 2023 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | $ | 42.5 | $ | (3.3) | $ | 39.2 | Current Risk Management Assets | $ | 48.8 | $ | (2.4) | $ | 46.4 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Long-term Risk Management Assets | Long-term Risk Management Assets | 0.6 | (0.4) | 0.2 | Long-term Risk Management Assets | 0.8 | (0.6) | 0.2 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Assets | Total Assets | 43.1 | (3.7) | 39.4 | Total Assets | 49.6 | (3.0) | 46.6 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Current Risk Management Liabilities | Current Risk Management Liabilities | 5.1 | (4.0) | 1.1 | Current Risk Management Liabilities | 4.2 | (2.4) | 1.8 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Long-term Risk Management Liabilities | Long-term Risk Management Liabilities | 0.4 | (0.4) | — | Long-term Risk Management Liabilities | 1.5 | (0.6) | 0.9 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Liabilities | Total Liabilities | 5.5 | (4.4) | 1.1 | Total Liabilities | 5.7 | (3.0) | 2.7 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total MTM Derivative Contract Net Assets | Total MTM Derivative Contract Net Assets | $ | 37.6 | $ | 0.7 | $ | 38.3 | Total MTM Derivative Contract Net Assets | $ | 43.9 | $ | — | $ | 43.9 |
December 31, 2022 | ||||||||||||||||||||||||||||||||
Risk Management | Gross Amounts Offset | Net Amounts of Assets/Liabilities | ||||||||||||||||||||||||||||||
Contracts – | in the Statement of | Presented in the Statement of | ||||||||||||||||||||||||||||||
Balance Sheet Location | Commodity (a) | Financial Position (b) | Financial Position (c) | |||||||||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||||||||||
Current Risk Management Assets | $ | 69.3 | $ | (0.2) | $ | 69.1 | ||||||||||||||||||||||||||
Long-term Risk Management Assets | 0.7 | (0.7) | — | |||||||||||||||||||||||||||||
Total Assets | 70.0 | (0.9) | 69.1 | |||||||||||||||||||||||||||||
Current Risk Management Liabilities | 4.1 | (0.5) | 3.6 | |||||||||||||||||||||||||||||
Long-term Risk Management Liabilities | 0.7 | (0.6) | 0.1 | |||||||||||||||||||||||||||||
Total Liabilities | 4.8 | (1.1) | 3.7 | |||||||||||||||||||||||||||||
Total MTM Derivative Contract Net Assets | $ | 65.2 | $ | 0.2 | $ | 65.4 |
June 30, 2023 | September 30, 2023 | |||||||||||||||||||||||||||||||||||||||
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 | $ | 22.3 | $ | (0.9) | $ | 21.4 | Current Risk Management Assets | $ | 20.2 | $ | (4.4) | $ | 15.8 | ||||||||||||||||||||||||||
Long-term Risk Management Assets | Long-term Risk Management Assets | 11.8 | (2.7) | 9.1 | Long-term Risk Management Assets | 6.6 | (1.2) | 5.4 | ||||||||||||||||||||||||||||||||
Total Assets | Total Assets | 34.1 | (3.6) | 30.5 | Total Assets | 26.8 | (5.6) | 21.2 | ||||||||||||||||||||||||||||||||
Current Risk Management Liabilities | Current Risk Management Liabilities | 2.8 | (1.4) | 1.4 | Current Risk Management Liabilities | 5.3 | (4.2) | 1.1 | ||||||||||||||||||||||||||||||||
Long-term Risk Management Liabilities | Long-term Risk Management Liabilities | 2.7 | (2.7) | — | Long-term Risk Management Liabilities | 1.0 | (1.0) | — | ||||||||||||||||||||||||||||||||
Total Liabilities | Total Liabilities | 5.5 | (4.1) | 1.4 | Total Liabilities | 6.3 | (5.2) | 1.1 | ||||||||||||||||||||||||||||||||
Total MTM Derivative Contract Net Assets | $ | 28.6 | $ | 0.5 | $ | 29.1 | ||||||||||||||||||||||||||||||||||
Total MTM Derivative Contract Net Assets (Liabilities) | Total MTM Derivative Contract Net Assets (Liabilities) | $ | 20.5 | $ | (0.4) | $ | 20.1 |
December 31, 2022 | ||||||||||||||||||||
Risk Management | Gross Amounts Offset | Net Amounts of Assets/Liabilities | ||||||||||||||||||
Contracts – | in the Statement of | Presented in the Statement of | ||||||||||||||||||
Balance Sheet Location | Commodity (a) | Financial Position (b) | Financial Position (c) | |||||||||||||||||
(in millions) | ||||||||||||||||||||
Current Risk Management Assets | $ | 16.0 | $ | (0.8) | $ | 15.2 | ||||||||||||||
Long-term Risk Management Assets | 0.5 | (0.3) | 0.2 | |||||||||||||||||
Total Assets | 16.5 | (1.1) | 15.4 | |||||||||||||||||
Current Risk Management Liabilities | 0.9 | (0.9) | — | |||||||||||||||||
Long-term Risk Management Liabilities | 0.3 | (0.3) | — | |||||||||||||||||
Total Liabilities | 1.2 | (1.2) | — | |||||||||||||||||
Total MTM Derivative Contract Net Assets | $ | 15.3 | $ | 0.1 | $ | 15.4 |
June 30, 2023 | September 30, 2023 | |||||||||||||||||||||||||||||||||||||||
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 | $ | — | $ | — | $ | — | Current Risk Management Assets | $ | 0.3 | $ | — | $ | 0.3 | ||||||||||||||||||||||||||
Long-term Risk Management Assets | Long-term Risk Management Assets | — | — | — | Long-term Risk Management Assets | — | — | — | ||||||||||||||||||||||||||||||||
Total Assets | Total Assets | — | — | — | Total Assets | 0.3 | — | 0.3 | ||||||||||||||||||||||||||||||||
Current Risk Management Liabilities | Current Risk Management Liabilities | 6.6 | (0.3) | 6.3 | Current Risk Management Liabilities | 5.7 | — | 5.7 | ||||||||||||||||||||||||||||||||
Long-term Risk Management Liabilities | Long-term Risk Management Liabilities | 47.8 | (0.1) | 47.7 | Long-term Risk Management Liabilities | 45.9 | — | 45.9 | ||||||||||||||||||||||||||||||||
Total Liabilities | Total Liabilities | 54.4 | (0.4) | 54.0 | Total Liabilities | 51.6 | — | 51.6 | ||||||||||||||||||||||||||||||||
Total MTM Derivative Contract Net Assets (Liabilities) | $ | (54.4) | $ | 0.4 | $ | (54.0) | ||||||||||||||||||||||||||||||||||
Total MTM Derivative Contract Net Liabilities | Total MTM Derivative Contract Net Liabilities | $ | (51.3) | $ | — | $ | (51.3) |
December 31, 2022 | ||||||||||||||||||||
Risk Management | Gross Amounts Offset | Net Amounts of Assets/Liabilities | ||||||||||||||||||
Contracts – | in the Statement of | Presented in the Statement of | ||||||||||||||||||
Balance Sheet Location | Commodity (a) | Financial Position (b) | Financial Position (c) | |||||||||||||||||
(in millions) | ||||||||||||||||||||
Current Risk Management Assets | $ | — | $ | — | $ | — | ||||||||||||||
Long-term Risk Management Assets | — | — | — | |||||||||||||||||
Total Assets | — | — | — | |||||||||||||||||
Current Risk Management Liabilities | 2.1 | (0.3) | 1.8 | |||||||||||||||||
Long-term Risk Management Liabilities | 37.9 | — | 37.9 | |||||||||||||||||
Total Liabilities | 40.0 | (0.3) | 39.7 | |||||||||||||||||
Total MTM Derivative Contract Net Assets (Liabilities) | $ | (40.0) | $ | 0.3 | $ | (39.7) |
June 30, 2023 | September 30, 2023 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | $ | 47.4 | $ | (2.6) | $ | 44.8 | Current Risk Management Assets | $ | 28.3 | $ | (0.1) | $ | 28.2 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Long-term Risk Management Assets | Long-term Risk Management Assets | 0.2 | (0.2) | — | Long-term Risk Management Assets | 0.3 | (0.3) | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Assets | Total Assets | 47.6 | (2.8) | 44.8 | Total Assets | 28.6 | (0.4) | 28.2 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Current Risk Management Liabilities | Current Risk Management Liabilities | 5.4 | (2.8) | 2.6 | Current Risk Management Liabilities | 7.2 | (0.1) | 7.1 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Long-term Risk Management Liabilities | Long-term Risk Management Liabilities | 1.0 | (0.2) | 0.8 | Long-term Risk Management Liabilities | 0.4 | (0.3) | 0.1 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Liabilities | Total Liabilities | 6.4 | (3.0) | 3.4 | Total Liabilities | 7.6 | (0.4) | 7.2 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total MTM Derivative Contract Net Assets | Total MTM Derivative Contract Net Assets | $ | 41.2 | $ | 0.2 | $ | 41.4 | Total MTM Derivative Contract Net Assets | $ | 21.0 | $ | — | $ | 21.0 |
December 31, 2022 | ||||||||||||||||||||||||||||||||
Risk Management Contracts – | Hedging Contracts | Gross Amounts of Risk Management Assets/Liabilities Recognized | Gross Amounts Offset in the Statement of Financial Position (b) | Net Amounts of Assets/Liabilities Presented in the Statement of Financial Position (c) | ||||||||||||||||||||||||||||
Balance Sheet Location | Commodity (a) | Interest Rate (a) | ||||||||||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||||||||||
Current Risk Management Assets | $ | 24.1 | $ | 1.6 | $ | 25.7 | $ | (0.4) | $ | 25.3 | ||||||||||||||||||||||
Long-term Risk Management Assets | — | — | — | — | — | |||||||||||||||||||||||||||
Total Assets | 24.1 | 1.6 | 25.7 | (0.4) | 25.3 | |||||||||||||||||||||||||||
Current Risk Management Liabilities | 2.1 | — | 2.1 | (0.5) | 1.6 | |||||||||||||||||||||||||||
Long-term Risk Management Liabilities | — | — | — | — | — | |||||||||||||||||||||||||||
Total Liabilities | 2.1 | — | 2.1 | (0.5) | 1.6 | |||||||||||||||||||||||||||
Total MTM Derivative Contract Net Assets | $ | 22.0 | $ | 1.6 | $ | 23.6 | $ | 0.1 | $ | 23.7 |
June 30, 2023 | September 30, 2023 | |||||||||||||||||||||||||||||||||||||||
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 | $ | 28.5 | $ | (0.5) | $ | 28.0 | Current Risk Management Assets | $ | 17.6 | $ | (0.5) | $ | 17.1 | ||||||||||||||||||||||||||
Long-term Risk Management Assets | Long-term Risk Management Assets | — | — | — | Long-term Risk Management Assets | — | — | — | ||||||||||||||||||||||||||||||||
Total Assets | Total Assets | 28.5 | (0.5) | 28.0 | Total Assets | 17.6 | (0.5) | 17.1 | ||||||||||||||||||||||||||||||||
Current Risk Management Liabilities | Current Risk Management Liabilities | 2.4 | (0.8) | 1.6 | Current Risk Management Liabilities | 3.6 | (0.5) | 3.1 | ||||||||||||||||||||||||||||||||
Long-term Risk Management Liabilities | Long-term Risk Management Liabilities | 0.2 | — | 0.2 | Long-term Risk Management Liabilities | 0.4 | — | 0.4 | ||||||||||||||||||||||||||||||||
Total Liabilities | Total Liabilities | 2.6 | (0.8) | 1.8 | Total Liabilities | 4.0 | (0.5) | 3.5 | ||||||||||||||||||||||||||||||||
Total MTM Derivative Contract Net Assets | Total MTM Derivative Contract Net Assets | $ | 25.9 | $ | 0.3 | $ | 26.2 | Total MTM Derivative Contract Net Assets | $ | 13.6 | $ | — | $ | 13.6 |
December 31, 2022 | ||||||||||||||||||||
Risk Management | Gross Amounts Offset | Net Amounts of Assets/Liabilities | ||||||||||||||||||
Contracts – | in the Statement of | Presented in the Statement of | ||||||||||||||||||
Balance Sheet Location | Commodity (a) | Financial Position (b) | Financial Position (c) | |||||||||||||||||
(in millions) | ||||||||||||||||||||
Current Risk Management Assets | $ | 16.8 | $ | (0.4) | $ | 16.4 | ||||||||||||||
Long-term Risk Management Assets | — | — | — | |||||||||||||||||
Total Assets | 16.8 | (0.4) | 16.4 | |||||||||||||||||
Current Risk Management Liabilities | 2.0 | (0.6) | 1.4 | |||||||||||||||||
Long-term Risk Management Liabilities | — | — | — | |||||||||||||||||
Total Liabilities | 2.0 | (0.6) | 1.4 | |||||||||||||||||
Total MTM Derivative Contract Net Assets | $ | 14.8 | $ | 0.2 | $ | 15.0 |
Three Months Ended June 30, 2023 | Three Months Ended September 30, 2023 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | $ | 17.0 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | Vertically Integrated Utilities Revenues | $ | (9.5) | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Generation & Marketing Revenues | Generation & Marketing Revenues | (141.8) | — | — | — | — | — | — | Generation & Marketing Revenues | (1.4) | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Electric Generation, Transmission and Distribution Revenues | Electric Generation, Transmission and Distribution Revenues | — | — | — | 17.0 | — | — | — | Electric Generation, Transmission and Distribution Revenues | — | — | 0.1 | (9.6) | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Purchased Electricity, Fuel and Other Consumables Used for Electric Generation | Purchased Electricity, Fuel and Other Consumables Used for Electric Generation | 1.3 | — | 1.3 | 0.1 | — | — | — | Purchased Electricity, Fuel and Other Consumables Used for Electric Generation | 0.2 | — | 0.2 | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Operation | (0.1) | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maintenance | Maintenance | (0.3) | (0.1) | — | — | — | — | — | Maintenance | (0.4) | (0.1) | (0.1) | — | (0.1) | (0.1) | (0.1) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Regulatory Assets (a) | Regulatory Assets (a) | (12.4) | (0.1) | 5.9 | (1.6) | (12.8) | (2.3) | (0.9) | Regulatory Assets (a) | 1.2 | 0.5 | 1.2 | 1.7 | 0.5 | (3.5) | (1.1) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Regulatory Liabilities (a) | Regulatory Liabilities (a) | 102.0 | — | 17.4 | 3.6 | — | 42.4 | 33.6 | Regulatory Liabilities (a) | 43.0 | 0.4 | 11.9 | 1.6 | — | 12.9 | 12.7 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Gain (Loss) on Risk Management Contracts | Total Gain (Loss) on Risk Management Contracts | $ | (34.3) | $ | (0.2) | $ | 24.6 | $ | 19.1 | $ | (12.8) | $ | 40.1 | $ | 32.7 | Total Gain (Loss) on Risk Management Contracts | $ | 33.1 | $ | 0.8 | $ | 13.3 | $ | (6.3) | $ | 0.4 | $ | 9.3 | $ | 11.5 |
Three Months Ended June 30, 2022 | ||||||||||||||||||||||||||||||||||||||||||||
Location of Gain (Loss) | AEP | AEP Texas | APCo | I&M | OPCo | PSO | SWEPCo | |||||||||||||||||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||||||||||||||||||||||
Vertically Integrated Utilities Revenues | $ | 0.1 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||||||||||||||
Generation & Marketing Revenues | 121.0 | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||
Purchased Electricity, Fuel and Other Consumables Used for Electric Generation | 0.9 | — | 0.7 | — | — | 0.1 | — | |||||||||||||||||||||||||||||||||||||
Other Operation | 1.7 | 0.5 | 0.2 | 0.2 | 0.3 | 0.2 | 0.3 | |||||||||||||||||||||||||||||||||||||
Maintenance | 2.4 | 0.7 | 0.4 | 0.2 | 0.4 | 0.3 | 0.4 | |||||||||||||||||||||||||||||||||||||
Regulatory Assets (a) | 21.4 | 0.1 | 0.1 | 0.3 | 21.0 | — | (0.1) | |||||||||||||||||||||||||||||||||||||
Regulatory Liabilities (a) | 110.4 | — | 21.6 | 1.5 | 1.6 | 39.0 | 36.9 | |||||||||||||||||||||||||||||||||||||
Total Gain on Risk Management Contracts | $ | 257.9 | $ | 1.3 | $ | 23.0 | $ | 2.2 | $ | 23.3 | $ | 39.6 | $ | 37.5 |
Three Months Ended September 30, 2022 | ||||||||||||||||||||||||||||||||||||||||||||
Location of Gain (Loss) | AEP | AEP Texas | APCo | I&M | OPCo | PSO | SWEPCo | |||||||||||||||||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||||||||||||||||||||||
Vertically Integrated Utilities Revenues | $ | 2.1 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||||||||||||||
Generation & Marketing Revenues | 116.7 | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||
Electric Generation, Transmission and Distribution Revenues | — | — | 0.3 | — | — | — | — | |||||||||||||||||||||||||||||||||||||
Other Revenues - Nonaffiliated | — | — | ` | — | 1.9 | — | — | — | ||||||||||||||||||||||||||||||||||||
Purchased Electricity, Fuel and Other Consumables Used for Electric Generation | 0.9 | — | 0.9 | 0.1 | — | — | — | |||||||||||||||||||||||||||||||||||||
Other Operation | 1.4 | 0.4 | 0.1 | 0.1 | 0.2 | 0.2 | 0.2 | |||||||||||||||||||||||||||||||||||||
Maintenance | 2.0 | 0.5 | 0.2 | 0.2 | 0.4 | 0.2 | 0.3 | |||||||||||||||||||||||||||||||||||||
Regulatory Assets (a) | 4.3 | — | — | 0.1 | 4.1 | — | 0.1 | |||||||||||||||||||||||||||||||||||||
Regulatory Liabilities (a) | 103.2 | (1.5) | 59.7 | 3.8 | 0.9 | 19.7 | 7.0 | |||||||||||||||||||||||||||||||||||||
Total Gain (Loss) on Risk Management Contracts | $ | 230.6 | $ | (0.6) | $ | 61.2 | $ | 6.2 | $ | 5.6 | $ | 20.1 | $ | 7.6 |
Six Months Ended June 30, 2023 | Nine Months Ended September 30, 2023 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | $ | 11.7 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | Vertically Integrated Utilities Revenues | $ | 2.2 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Generation & Marketing Revenues | Generation & Marketing Revenues | (289.2) | — | — | — | — | — | — | Generation & Marketing Revenues | (290.6) | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Electric Generation, Transmission and Distribution Revenues | Electric Generation, Transmission and Distribution Revenues | — | — | — | 11.7 | — | — | — | Electric Generation, Transmission and Distribution Revenues | — | — | 0.1 | 2.1 | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Purchased Electricity, Fuel and Other Consumables Used for Electric Generation | Purchased Electricity, Fuel and Other Consumables Used for Electric Generation | 2.0 | — | 1.9 | 0.1 | — | — | — | Purchased Electricity, Fuel and Other Consumables Used for Electric Generation | 2.2 | — | 2.1 | 0.1 | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Operation | Other Operation | (0.1) | — | — | — | — | — | — | Other Operation | (0.1) | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maintenance | Maintenance | (0.2) | (0.1) | — | — | — | — | — | Maintenance | (0.6) | (0.2) | (0.1) | — | (0.1) | (0.1) | (0.1) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Regulatory Assets (a) | Regulatory Assets (a) | (37.2) | (0.5) | (1.2) | (2.1) | (25.1) | (3.5) | (2.4) | Regulatory Assets (a) | (36.0) | — | — | (0.4) | (24.6) | (7.0) | (3.5) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Regulatory Liabilities (a) | Regulatory Liabilities (a) | 100.5 | — | (8.8) | 4.8 | — | 60.4 | 45.5 | Regulatory Liabilities (a) | 143.5 | 0.4 | 3.1 | 6.4 | — | 73.3 | 58.2 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Gain (Loss) on Risk Management Contracts | Total Gain (Loss) on Risk Management Contracts | $ | (212.5) | $ | (0.6) | $ | (8.1) | $ | 14.5 | $ | (25.1) | $ | 56.9 | $ | 43.1 | Total Gain (Loss) on Risk Management Contracts | $ | (179.4) | $ | 0.2 | $ | 5.2 | $ | 8.2 | $ | (24.7) | $ | 66.2 | $ | 54.6 |
Six Months Ended June 30, 2022 | Nine Months Ended September 30, 2022 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | $ | 0.1 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | Vertically Integrated Utilities Revenues | $ | 2.2 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Generation & Marketing Revenues | Generation & Marketing Revenues | 273.3 | — | — | — | — | — | — | Generation & Marketing Revenues | 390.0 | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Electric Generation, Transmission and Distribution Revenues | Electric Generation, Transmission and Distribution Revenues | — | — | 0.1 | (0.1) | — | — | — | Electric Generation, Transmission and Distribution Revenues | — | — | 0.4 | (0.1) | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Revenues - Nonaffiliated | Other Revenues - Nonaffiliated | — | — | — | 1.9 | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Purchased Electricity, Fuel and Other Consumables Used for Electric Generation | Purchased Electricity, Fuel and Other Consumables Used for Electric Generation | 2.4 | — | 2.1 | — | — | 0.1 | — | Purchased Electricity, Fuel and Other Consumables Used for Electric Generation | 3.3 | — | 3.0 | 0.1 | — | 0.1 | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Operation | Other Operation | 2.3 | 0.7 | 0.2 | 0.3 | 0.4 | 0.3 | 0.4 | Other Operation | 3.7 | 1.1 | 0.3 | 0.4 | 0.6 | 0.5 | 0.6 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maintenance | Maintenance | 3.2 | 0.9 | 0.5 | 0.3 | 0.5 | 0.4 | 0.5 | Maintenance | 5.2 | 1.4 | 0.7 | 0.5 | 0.9 | 0.6 | 0.8 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Regulatory Assets (a) | Regulatory Assets (a) | 45.0 | 0.1 | — | (1.3) | 44.9 | 3.6 | (2.2) | Regulatory Assets (a) | 49.3 | 0.1 | — | (1.2) | 49.0 | 3.6 | (2.1) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Regulatory Liabilities (a) | Regulatory Liabilities (a) | 146.9 | 0.9 | 20.2 | 3.2 | 1.6 | 51.7 | 57.8 | Regulatory Liabilities (a) | 250.1 | (0.6) | 79.9 | 7.0 | 2.5 | 71.4 | 64.8 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Gain on Risk Management Contracts | Total Gain on Risk Management Contracts | $ | 473.2 | $ | 2.6 | $ | 23.1 | $ | 2.4 | $ | 47.4 | $ | 56.1 | $ | 56.5 | Total Gain on Risk Management Contracts | $ | 703.8 | $ | 2.0 | $ | 84.3 | $ | 8.6 | $ | 53.0 | $ | 76.2 | $ | 64.1 |
Carrying Amount of the Hedged Liabilities | Cumulative Amount of Fair Value Hedging Adjustment Included in the Carrying Amount of the Hedged Liabilities | |||||||||||||||||||||||||
June 30, 2023 | December 31, 2022 | June 30, 2023 | December 31, 2022 | |||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||||
Long-term Debt (a) (b) | $ | (855.1) | $ | (855.5) | $ | 90.8 | $ | 89.7 |
Carrying Amount of the Hedged Liabilities | Cumulative Amount of Fair Value Hedging Adjustment Included in the Carrying Amount of the Hedged Liabilities | |||||||||||||||||||||||||
September 30, 2023 | December 31, 2022 | September 30, 2023 | December 31, 2022 | |||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||||
Long-term Debt (a) (b) | $ | (840.1) | $ | (855.5) | $ | 106.1 | $ | 89.7 |
Three Months Ended June 30, | Six Months Ended June 30, | Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||||||||||||||||||||||||||||||
2023 | 2022 | 2023 | 2022 | 2023 | 2022 | 2023 | 2022 | |||||||||||||||||||||||||||||||||||||||
(in millions) | (in millions) | |||||||||||||||||||||||||||||||||||||||||||||
Gain (Loss) on Interest Rate Contracts: | Gain (Loss) on Interest Rate Contracts: | Gain (Loss) on Interest Rate Contracts: | ||||||||||||||||||||||||||||||||||||||||||||
Fair Value Hedging Instruments (a) | Fair Value Hedging Instruments (a) | $ | (4.2) | $ | (17.6) | $ | 2.7 | $ | (62.4) | Fair Value Hedging Instruments (a) | $ | (13.4) | $ | (36.0) | $ | (10.7) | $ | (98.4) | ||||||||||||||||||||||||||||
Fair Value Portion of Long-term Debt (a) | Fair Value Portion of Long-term Debt (a) | 4.2 | 17.6 | (2.7) | 62.4 | Fair Value Portion of Long-term Debt (a) | 13.4 | 36.0 | 10.7 | 98.4 |
June 30, 2023 | December 31, 2022 | September 30, 2023 | December 31, 2022 | |||||||||||||||||||||||||||||||||||||||||||||||||
Commodity | Interest Rate | Commodity | Interest Rate | Commodity | Interest Rate | Commodity | Interest Rate | |||||||||||||||||||||||||||||||||||||||||||||
(in millions) | (in millions) | |||||||||||||||||||||||||||||||||||||||||||||||||||
AOCI Gain Net of Tax | AOCI Gain Net of Tax | $ | 93.5 | $ | 12.7 | $ | 223.5 | $ | 0.3 | AOCI Gain Net of Tax | $ | 100.6 | $ | 4.7 | $ | 223.5 | $ | 0.3 | ||||||||||||||||||||||||||||||||||
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 | 24.1 | 4.3 | 119.9 | 0.3 | Portion Expected to be Reclassed to Net Income During the Next Twelve Months | 36.1 | 4.3 | 119.9 | 0.3 |
June 30, 2023 | December 31, 2022 | September 30, 2023 | December 31, 2022 | |||||||||||||||||||||||||||||||||||||||||||||||||
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 | $ | 2.9 | $ | 0.3 | $ | (0.3) | $ | (0.2) | AEP Texas | $ | 2.8 | $ | 0.3 | $ | (0.3) | $ | (0.2) | ||||||||||||||||||||||||||||||||||
APCo | APCo | 6.3 | 0.8 | 6.7 | 0.8 | APCo | 6.1 | 0.8 | 6.7 | 0.8 | ||||||||||||||||||||||||||||||||||||||||||
I&M | I&M | (5.7) | (0.4) | (5.1) | (0.6) | I&M | (5.6) | (0.4) | (5.1) | (0.6) | ||||||||||||||||||||||||||||||||||||||||||
PSO | PSO | (0.2) | — | 1.3 | 0.1 | PSO | (0.2) | — | 1.3 | 0.1 | ||||||||||||||||||||||||||||||||||||||||||
SWEPCo | SWEPCo | 1.4 | 0.3 | 1.1 | 0.2 | SWEPCo | 1.4 | 0.3 | 1.1 | 0.2 |
June 30, 2023 | December 31, 2022 | September 30, 2023 | December 31, 2022 | |||||||||||||||||||||||||||||||||||||||||||||||||
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) | $ | 40,142.3 | $ | 36,351.3 | $ | 36,801.0 | $ | 32,915.9 | AEP (a) | $ | 39,489.1 | $ | 33,559.8 | $ | 36,801.0 | $ | 32,915.9 | ||||||||||||||||||||||||||||||||||
AEP Texas | AEP Texas | 5,937.5 | 5,295.5 | 5,657.8 | 5,045.8 | AEP Texas | 5,926.7 | 4,963.8 | 5,657.8 | 5,045.8 | ||||||||||||||||||||||||||||||||||||||||||
AEPTCo | AEPTCo | 5,473.0 | 4,719.2 | 4,782.8 | 3,940.5 | AEPTCo | 5,473.7 | 4,270.8 | 4,782.8 | 3,940.5 | ||||||||||||||||||||||||||||||||||||||||||
APCo | APCo | 5,599.7 | 5,298.4 | 5,410.5 | 5,079.2 | APCo | 5,587.3 | 4,901.4 | 5,410.5 | 5,079.2 | ||||||||||||||||||||||||||||||||||||||||||
I&M | I&M | 3,464.1 | 3,174.2 | 3,260.8 | 2,929.0 | I&M | 3,443.6 | 2,920.6 | 3,260.8 | 2,929.0 | ||||||||||||||||||||||||||||||||||||||||||
OPCo | OPCo | 3,365.6 | 2,878.8 | 2,970.3 | 2,516.6 | OPCo | 3,366.2 | 2,645.2 | 2,970.3 | 2,516.6 | ||||||||||||||||||||||||||||||||||||||||||
PSO | PSO | 2,383.9 | 2,106.1 | 1,912.8 | 1,635.8 | PSO | 2,384.2 | 1,942.5 | 1,912.8 | 1,635.8 | ||||||||||||||||||||||||||||||||||||||||||
SWEPCo | SWEPCo | 3,645.6 | 3,135.3 | 3,391.6 | 2,870.9 | SWEPCo | 3,646.2 | 2,944.8 | 3,391.6 | 2,870.9 |
June 30, 2023 | September 30, 2023 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Gross | Gross | Gross | Gross | |||||||||||||||||||||||||||||||||||||||||||||||||
Unrealized | Unrealized | Fair | Unrealized | Unrealized | Fair | |||||||||||||||||||||||||||||||||||||||||||||||
Other Temporary Investments and Restricted Cash | Other Temporary Investments and Restricted Cash | Cost | Gains | Losses | Value | Other Temporary Investments and Restricted Cash | Cost | Gains | Losses | Value | ||||||||||||||||||||||||||||||||||||||||||
(in millions) | (in millions) | |||||||||||||||||||||||||||||||||||||||||||||||||||
Restricted Cash (a) | Restricted Cash (a) | $ | 45.8 | $ | — | $ | — | $ | 45.8 | Restricted Cash (a) | $ | 53.8 | $ | — | $ | — | $ | 53.8 | ||||||||||||||||||||||||||||||||||
Other Cash Deposits | Other Cash Deposits | 15.9 | — | — | 15.9 | Other Cash Deposits | 13.4 | — | — | 13.4 | ||||||||||||||||||||||||||||||||||||||||||
Fixed Income Securities – Mutual Funds (b) | Fixed Income Securities – Mutual Funds (b) | 155.7 | — | (8.9) | 146.8 | Fixed Income Securities – Mutual Funds (b) | 170.4 | — | (10.4) | 160.0 | ||||||||||||||||||||||||||||||||||||||||||
Equity Securities – Mutual Funds | Equity Securities – Mutual Funds | 15.4 | 24.4 | — | 39.8 | Equity Securities – Mutual Funds | 15.0 | 22.6 | — | 37.6 | ||||||||||||||||||||||||||||||||||||||||||
Total Other Temporary Investments and Restricted Cash | Total Other Temporary Investments and Restricted Cash | $ | 232.8 | $ | 24.4 | $ | (8.9) | $ | 248.3 | Total Other Temporary Investments and Restricted Cash | $ | 252.6 | $ | 22.6 | $ | (10.4) | $ | 264.8 |
December 31, 2022 | ||||||||||||||||||||||||||
Gross | Gross | |||||||||||||||||||||||||
Unrealized | Unrealized | Fair | ||||||||||||||||||||||||
Other Temporary Investments and Restricted Cash | Cost | Gains | Losses | Value | ||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||||
Restricted Cash (a) | $ | 47.1 | $ | — | $ | — | $ | 47.1 | ||||||||||||||||||
Other Cash Deposits | 9.0 | — | — | 9.0 | ||||||||||||||||||||||
Fixed Income Securities – Mutual Funds (b) | 152.4 | — | (8.3) | 144.1 | ||||||||||||||||||||||
Equity Securities – Mutual Funds | 15.1 | 19.4 | — | 34.5 | ||||||||||||||||||||||
Total Other Temporary Investments and Restricted Cash | $ | 223.6 | $ | 19.4 | $ | (8.3) | $ | 234.7 |
Three Months Ended June 30, | Six Months Ended June 30, | Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||||||||||||||||||||||||||||||
2023 | 2022 | 2023 | 2022 | 2023 | 2022 | 2023 | 2022 | |||||||||||||||||||||||||||||||||||||||
(in millions) | (in millions) | |||||||||||||||||||||||||||||||||||||||||||||
Proceeds from Investment Sales | Proceeds from Investment Sales | $ | — | $ | 11.1 | $ | — | $ | 15.0 | Proceeds from Investment Sales | $ | 0.8 | $ | — | $ | 0.8 | $ | 15.0 | ||||||||||||||||||||||||||||
Purchases of Investments | Purchases of Investments | 1.3 | 0.8 | 2.3 | 1.6 | Purchases of Investments | 14.6 | 11.8 | 16.9 | 13.4 | ||||||||||||||||||||||||||||||||||||
Gross Realized Gains on Investment Sales | Gross Realized Gains on Investment Sales | — | 3.3 | — | 3.6 | Gross Realized Gains on Investment Sales | 0.3 | — | 0.3 | 3.6 | ||||||||||||||||||||||||||||||||||||
Gross Realized Losses on Investment Sales | Gross Realized Losses on Investment Sales | — | 0.4 | — | 0.5 | Gross Realized Losses on Investment Sales | — | — | — | 0.5 |
June 30, 2023 | December 31, 2022 | September 30, 2023 | December 31, 2022 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Gross | Gross | Other-Than- | Gross | Gross | Other-Than- | Gross | Gross | Other-Than- | Gross | Gross | Other-Than- | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair | Unrealized | Unrealized | Temporary | Fair | Unrealized | Unrealized | Temporary | Fair | Unrealized | Unrealized | Temporary | Fair | Unrealized | Unrealized | Temporary | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Value | Gains | Losses | Impairments | Value | Gains | Losses | Impairments | Value | Gains | Losses | Impairments | Value | Gains | Losses | Impairments | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(in millions) | (in millions) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cash and Cash Equivalents | Cash and Cash Equivalents | $ | 24.2 | $ | — | $ | — | $ | — | $ | 21.2 | $ | — | $ | — | $ | — | Cash and Cash Equivalents | $ | 20.5 | $ | — | $ | — | $ | — | $ | 21.2 | $ | — | $ | — | $ | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fixed Income Securities: | Fixed Income Securities: | Fixed Income Securities: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
United States Government | United States Government | 1,191.9 | 9.9 | (13.8) | (25.6) | 1,123.8 | 11.8 | (14.9) | (18.8) | United States Government | 1,204.7 | 0.6 | (30.8) | (38.5) | 1,123.8 | 11.8 | (14.9) | (18.8) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Corporate Debt | Corporate Debt | 68.8 | 0.8 | (6.6) | (1.7) | 61.6 | 0.7 | (7.7) | (9.6) | Corporate Debt | 136.8 | 0.4 | (12.4) | (5.3) | 61.6 | 0.7 | (7.7) | (9.6) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
State and Local Government | State and Local Government | 3.3 | — | — | — | 3.3 | 0.1 | — | (0.1) | State and Local Government | 3.2 | — | — | — | 3.3 | 0.1 | — | (0.1) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subtotal Fixed Income Securities | Subtotal Fixed Income Securities | 1,264.0 | 10.7 | (20.4) | (27.3) | 1,188.7 | 12.6 | (22.6) | (28.5) | Subtotal Fixed Income Securities | 1,344.7 | 1.0 | (43.2) | (43.8) | 1,188.7 | 12.6 | (22.6) | (28.5) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Equity Securities - Domestic | Equity Securities - Domestic | 2,360.6 | 1,725.7 | (4.6) | — | 2,131.3 | 1,483.7 | (6.4) | — | Equity Securities - Domestic | 2,174.5 | 1,620.5 | (1.9) | — | 2,131.3 | 1,483.7 | (6.4) | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Spent Nuclear Fuel and Decommissioning Trusts | Spent Nuclear Fuel and Decommissioning Trusts | $ | 3,648.8 | $ | 1,736.4 | $ | (25.0) | $ | (27.3) | $ | 3,341.2 | $ | 1,496.3 | $ | (29.0) | $ | (28.5) | Spent Nuclear Fuel and Decommissioning Trusts | $ | 3,539.7 | $ | 1,621.5 | $ | (45.1) | $ | (43.8) | $ | 3,341.2 | $ | 1,496.3 | $ | (29.0) | $ | (28.5) |
Three Months Ended June 30, | Six Months Ended June 30, | Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||||||||||||||||||||||||||||||||||||
2023 | 2022 | 2023 | 2022 | 2023 | 2022 | 2023 | 2022 | |||||||||||||||||||||||||||||||||||||||||||||
(in millions) | (in millions) | |||||||||||||||||||||||||||||||||||||||||||||||||||
Proceeds from Investment Sales | Proceeds from Investment Sales | $ | 688.7 | $ | 736.4 | $ | 1,206.3 | $ | 1,229.9 | Proceeds from Investment Sales | $ | 933.0 | $ | 588.5 | $ | 2,139.3 | $ | 1,818.4 | ||||||||||||||||||||||||||||||||||
Purchases of Investments | Purchases of Investments | 697.0 | 745.5 | 1,233.3 | 1,253.2 | Purchases of Investments | 949.5 | 601.6 | 2,182.8 | 1,854.8 | ||||||||||||||||||||||||||||||||||||||||||
Gross Realized Gains on Investment Sales | Gross Realized Gains on Investment Sales | 6.4 | 10.9 | 54.8 | 16.7 | Gross Realized Gains on Investment Sales | 36.8 | 24.6 | 91.6 | 41.3 | ||||||||||||||||||||||||||||||||||||||||||
Gross Realized Losses on Investment Sales | Gross Realized Losses on Investment Sales | 3.7 | 17.9 | 12.3 | 25.1 | Gross Realized Losses on Investment Sales | 7.7 | 8.4 | 20.0 | 33.5 |
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 and Restricted Cash | Other Temporary Investments and Restricted Cash | Other Temporary Investments and Restricted Cash | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Restricted Cash | Restricted Cash | $ | 45.8 | $ | — | $ | — | $ | — | $ | 45.8 | Restricted Cash | $ | 53.8 | $ | — | $ | — | $ | — | $ | 53.8 | ||||||||||||||||||||||||||||||||||||||||||
Other Cash Deposits (a) | Other Cash Deposits (a) | — | — | — | 15.9 | 15.9 | Other Cash Deposits (a) | — | — | — | 13.4 | 13.4 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Fixed Income Securities – Mutual Funds | Fixed Income Securities – Mutual Funds | 146.8 | — | — | — | 146.8 | Fixed Income Securities – Mutual Funds | 160.0 | — | — | — | 160.0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Equity Securities – Mutual Funds (b) | Equity Securities – Mutual Funds (b) | 39.8 | — | — | — | 39.8 | Equity Securities – Mutual Funds (b) | 37.6 | — | — | — | 37.6 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Other Temporary Investments and Restricted Cash | Total Other Temporary Investments and Restricted Cash | 232.4 | — | — | 15.9 | 248.3 | Total Other Temporary Investments and Restricted Cash | 251.4 | — | — | 13.4 | 264.8 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Risk Management Assets | Risk Management Assets | Risk Management Assets | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Risk Management Commodity Contracts (c) (d) | Risk Management Commodity Contracts (c) (d) | 12.5 | 893.6 | 276.5 | (756.9) | 425.7 | Risk Management Commodity Contracts (c) (d) | 11.4 | 721.3 | 319.2 | (627.4) | 424.5 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Cash Flow Hedges: | Cash Flow Hedges: | Cash Flow Hedges: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commodity Hedges (c) | Commodity Hedges (c) | — | 118.4 | 19.4 | (17.2) | 120.6 | Commodity Hedges (c) | — | 119.3 | 19.3 | (10.2) | 128.4 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Risk Management Assets | Total Risk Management Assets | 12.5 | 1,012.0 | 295.9 | (774.1) | 546.3 | Total Risk Management Assets | 11.4 | 840.6 | 338.5 | (637.6) | 552.9 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
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) | 13.3 | — | — | 10.9 | 24.2 | Cash and Cash Equivalents (e) | 10.0 | — | — | 10.5 | 20.5 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Fixed Income Securities: | Fixed Income Securities: | Fixed Income Securities: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
United States Government | United States Government | — | 1,191.9 | — | — | 1,191.9 | United States Government | — | 1,204.7 | — | — | 1,204.7 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Corporate Debt | Corporate Debt | — | 68.8 | — | — | 68.8 | Corporate Debt | — | 136.8 | — | — | 136.8 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
State and Local Government | State and Local Government | — | 3.3 | — | — | 3.3 | State and Local Government | — | 3.2 | — | — | 3.2 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Subtotal Fixed Income Securities | Subtotal Fixed Income Securities | — | 1,264.0 | — | — | 1,264.0 | Subtotal Fixed Income Securities | — | 1,344.7 | — | — | 1,344.7 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Equity Securities – Domestic (b) | Equity Securities – Domestic (b) | 2,360.6 | — | — | — | 2,360.6 | Equity Securities – Domestic (b) | 2,174.5 | — | — | — | 2,174.5 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Spent Nuclear Fuel and Decommissioning Trusts | Total Spent Nuclear Fuel and Decommissioning Trusts | 2,373.9 | 1,264.0 | — | 10.9 | 3,648.8 | Total Spent Nuclear Fuel and Decommissioning Trusts | 2,184.5 | 1,344.7 | — | 10.5 | 3,539.7 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Assets | Total Assets | $ | 2,618.8 | $ | 2,276.0 | $ | 295.9 | $ | (747.3) | $ | 4,443.4 | Total Assets | $ | 2,447.3 | $ | 2,185.3 | $ | 338.5 | $ | (613.7) | $ | 4,357.4 | ||||||||||||||||||||||||||||||||||||||||||
Liabilities: | Liabilities: | Liabilities: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Risk Management Liabilities | Risk Management Liabilities | Risk Management Liabilities | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Risk Management Commodity Contracts (c) (d) | Risk Management Commodity Contracts (c) (d) | $ | 26.5 | $ | 848.3 | $ | 169.8 | $ | (719.4) | $ | 325.2 | Risk Management Commodity Contracts (c) (d) | $ | 24.8 | $ | 646.3 | $ | 155.0 | $ | (534.9) | $ | 291.2 | ||||||||||||||||||||||||||||||||||||||||||
Cash Flow Hedges: | Cash Flow Hedges: | Cash Flow Hedges: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commodity Hedges (c) | Commodity Hedges (c) | — | 18.8 | — | (17.2) | 1.6 | Commodity Hedges (c) | — | 10.1 | 0.7 | (10.2) | 0.6 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value Hedges | Fair Value Hedges | — | 124.7 | — | — | 124.7 | Fair Value Hedges | — | 138.1 | — | — | 138.1 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Risk Management Liabilities | Total Risk Management Liabilities | $ | 26.5 | $ | 991.8 | $ | 169.8 | $ | (736.6) | $ | 451.5 | Total Risk Management Liabilities | $ | 24.8 | $ | 794.5 | $ | 155.7 | $ | (545.1) | $ | 429.9 |
Level 1 | Level 2 | Level 3 | Other | Total | ||||||||||||||||||||||||||||
Assets: | (in millions) | |||||||||||||||||||||||||||||||
Other Temporary Investments and Restricted Cash | ||||||||||||||||||||||||||||||||
Restricted Cash | $ | 47.1 | $ | — | $ | — | $ | — | $ | 47.1 | ||||||||||||||||||||||
Other Cash Deposits (a) | — | — | — | 9.0 | 9.0 | |||||||||||||||||||||||||||
Fixed Income Securities – Mutual Funds | 144.1 | — | — | — | 144.1 | |||||||||||||||||||||||||||
Equity Securities – Mutual Funds (b) | 34.5 | — | — | — | 34.5 | |||||||||||||||||||||||||||
Total Other Temporary Investments and Restricted Cash | 225.7 | — | — | 9.0 | 234.7 | |||||||||||||||||||||||||||
Risk Management Assets | ||||||||||||||||||||||||||||||||
Risk Management Commodity Contracts (c) (f) | 15.0 | 1,197.5 | 314.4 | (1,211.5) | 315.4 | |||||||||||||||||||||||||||
Cash Flow Hedges: | ||||||||||||||||||||||||||||||||
Commodity Hedges (c) | — | 332.6 | 26.7 | (52.8) | 306.5 | |||||||||||||||||||||||||||
Interest Rate Hedges | — | 11.0 | — | — | 11.0 | |||||||||||||||||||||||||||
Total Risk Management Assets | 15.0 | 1,541.1 | 341.1 | (1,264.3) | 632.9 | |||||||||||||||||||||||||||
Spent Nuclear Fuel and Decommissioning Trusts | ||||||||||||||||||||||||||||||||
Cash and Cash Equivalents (e) | 11.3 | — | — | 9.9 | 21.2 | |||||||||||||||||||||||||||
Fixed Income Securities: | ||||||||||||||||||||||||||||||||
United States Government | — | 1,123.8 | — | — | 1,123.8 | |||||||||||||||||||||||||||
Corporate Debt | — | 61.6 | — | — | 61.6 | |||||||||||||||||||||||||||
State and Local Government | — | 3.3 | — | — | 3.3 | |||||||||||||||||||||||||||
Subtotal Fixed Income Securities | — | 1,188.7 | — | — | 1,188.7 | |||||||||||||||||||||||||||
Equity Securities – Domestic (b) | 2,131.3 | — | — | — | 2,131.3 | |||||||||||||||||||||||||||
Total Spent Nuclear Fuel and Decommissioning Trusts | 2,142.6 | 1,188.7 | — | 9.9 | 3,341.2 | |||||||||||||||||||||||||||
Total Assets | $ | 2,383.3 | $ | 2,729.8 | $ | 341.1 | $ | (1,245.4) | $ | 4,208.8 | ||||||||||||||||||||||
Liabilities: | ||||||||||||||||||||||||||||||||
Risk Management Liabilities | ||||||||||||||||||||||||||||||||
Risk Management Commodity Contracts (c) (f) | $ | 21.8 | $ | 870.9 | $ | 179.0 | $ | (731.9) | $ | 339.8 | ||||||||||||||||||||||
Cash Flow Hedges: | ||||||||||||||||||||||||||||||||
Commodity Hedges (c) | — | 74.3 | 1.7 | (52.8) | 23.2 | |||||||||||||||||||||||||||
Fair Value Hedges | — | 127.4 | — | — | 127.4 | |||||||||||||||||||||||||||
Total Risk Management Liabilities | $ | 21.8 | $ | 1,072.6 | $ | 180.7 | $ | (784.7) | $ | 490.4 |
Level 1 | Level 2 | Level 3 | Other | Total | ||||||||||||||||||||||||||||
Assets: | (in millions) | |||||||||||||||||||||||||||||||
Restricted Cash for Securitized Funding | $ | 30.7 | $ | — | $ | — | $ | — | $ | 30.7 | ||||||||||||||||||||||
Liabilities: | ||||||||||||||||||||||||||||||||
Risk Management Liabilities | ||||||||||||||||||||||||||||||||
Risk Management Commodity Contracts (c) | $ | — | $ | 0.5 | $ | — | $ | (0.5) | $ | — | ||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Other | Total | ||||||||||||||||||||||||||||
Assets: | (in millions) | |||||||||||||||||||||||||||||||
Restricted Cash for Securitized Funding | $ | 46.9 | $ | — | $ | — | $ | — | $ | 46.9 | ||||||||||||||||||||||
Risk Management Assets | ||||||||||||||||||||||||||||||||
Risk Management Commodity Contracts (g) | — | 0.4 | — | — | 0.4 | |||||||||||||||||||||||||||
Total Assets | $ | 46.9 | $ | 0.4 | $ | — | $ | — | $ | 47.3 | ||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Other | Total | ||||||||||||||||||||||||||||
Assets: | (in millions) | |||||||||||||||||||||||||||||||
Restricted Cash for Securitized Funding | $ | 32.7 | $ | — | $ | — | $ | — | $ | 32.7 | ||||||||||||||||||||||
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 | $ | 15.1 | $ | — | $ | — | $ | — | $ | 15.1 | Restricted Cash for Securitized Funding | $ | 6.9 | $ | — | $ | — | $ | — | $ | 6.9 | ||||||||||||||||||||||||||||||||||||||||||
Risk Management Assets | Risk Management Assets | Risk Management Assets | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Risk Management Commodity Contracts (c) (g) | Risk Management Commodity Contracts (c) (g) | — | 1.6 | 41.1 | (3.3) | 39.4 | Risk Management Commodity Contracts (c) (g) | — | 3.8 | 45.2 | (2.4) | 46.6 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Assets | Total Assets | $ | 15.1 | $ | 1.6 | $ | 41.1 | $ | (3.3) | $ | 54.5 | Total Assets | $ | 6.9 | $ | 3.8 | $ | 45.2 | $ | (2.4) | $ | 53.5 | ||||||||||||||||||||||||||||||||||||||||||
Liabilities: | Liabilities: | Liabilities: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Risk Management Liabilities | Risk Management Liabilities | Risk Management Liabilities | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Risk Management Commodity Contracts (c) (g) | Risk Management Commodity Contracts (c) (g) | $ | — | $ | 3.4 | $ | 1.7 | $ | (4.0) | $ | 1.1 | Risk Management Commodity Contracts (c) (g) | $ | — | $ | 5.0 | $ | 0.1 | $ | (2.4) | $ | 2.7 |
Level 1 | Level 2 | Level 3 | Other | Total | ||||||||||||||||||||||||||||
Assets: | (in millions) | |||||||||||||||||||||||||||||||
Restricted Cash for Securitized Funding | $ | 14.4 | $ | — | $ | — | $ | — | $ | 14.4 | ||||||||||||||||||||||
Risk Management Assets | ||||||||||||||||||||||||||||||||
Risk Management Commodity Contracts (c) (g) | — | 0.7 | 69.4 | (1.0) | 69.1 | |||||||||||||||||||||||||||
Total Assets | $ | 14.4 | $ | 0.7 | $ | 69.4 | $ | (1.0) | $ | 83.5 | ||||||||||||||||||||||
Liabilities: | ||||||||||||||||||||||||||||||||
Risk Management Liabilities | ||||||||||||||||||||||||||||||||
Risk Management Commodity Contracts (c) (g) | $ | — | $ | 4.6 | $ | 0.3 | $ | (1.4) | $ | 3.5 | ||||||||||||||||||||||
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) | $ | — | $ | 25.6 | $ | 8.2 | $ | (3.3) | $ | 30.5 | Risk Management Commodity Contracts (c) (g) | $ | — | $ | 18.1 | $ | 7.9 | $ | (4.8) | $ | 21.2 | ||||||||||||||||||||||||||||||||||||||||||
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) | 13.3 | — | — | 10.9 | 24.2 | Cash and Cash Equivalents (e) | 10.0 | — | — | 10.5 | 20.5 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Fixed Income Securities: | Fixed Income Securities: | Fixed Income Securities: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
United States Government | United States Government | — | 1,191.9 | — | — | 1,191.9 | United States Government | — | 1,204.7 | — | — | 1,204.7 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Corporate Debt | Corporate Debt | — | 68.8 | — | — | 68.8 | Corporate Debt | — | 136.8 | — | — | 136.8 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
State and Local Government | State and Local Government | — | 3.3 | — | — | 3.3 | State and Local Government | — | 3.2 | — | — | 3.2 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Subtotal Fixed Income Securities | Subtotal Fixed Income Securities | — | 1,264.0 | — | — | 1,264.0 | Subtotal Fixed Income Securities | — | 1,344.7 | — | — | 1,344.7 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Equity Securities - Domestic (b) | Equity Securities - Domestic (b) | 2,360.6 | — | — | — | 2,360.6 | Equity Securities - Domestic (b) | 2,174.5 | — | — | — | 2,174.5 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Spent Nuclear Fuel and Decommissioning Trusts | Total Spent Nuclear Fuel and Decommissioning Trusts | 2,373.9 | 1,264.0 | — | 10.9 | 3,648.8 | Total Spent Nuclear Fuel and Decommissioning Trusts | 2,184.5 | 1,344.7 | — | 10.5 | 3,539.7 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Assets | Total Assets | $ | 2,373.9 | $ | 1,289.6 | $ | 8.2 | $ | 7.6 | $ | 3,679.3 | Total Assets | $ | 2,184.5 | $ | 1,362.8 | $ | 7.9 | $ | 5.7 | $ | 3,560.9 | ||||||||||||||||||||||||||||||||||||||||||
Liabilities: | Liabilities: | Liabilities: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Risk Management Liabilities | Risk Management Liabilities | Risk Management Liabilities | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Risk Management Commodity Contracts (c) (g) | Risk Management Commodity Contracts (c) (g) | $ | — | $ | 3.8 | $ | 1.4 | $ | (3.8) | $ | 1.4 | Risk Management Commodity Contracts (c) (g) | $ | — | $ | 4.2 | $ | 1.3 | $ | (4.4) | $ | 1.1 |
Level 1 | Level 2 | Level 3 | Other | Total | ||||||||||||||||||||||||||||
Assets: | (in millions) | |||||||||||||||||||||||||||||||
Risk Management Assets | ||||||||||||||||||||||||||||||||
Risk Management Commodity Contracts (c) (g) | $ | — | $ | 11.3 | $ | 5.3 | $ | (1.2) | $ | 15.4 | ||||||||||||||||||||||
Spent Nuclear Fuel and Decommissioning Trusts | ||||||||||||||||||||||||||||||||
Cash and Cash Equivalents (e) | 11.3 | — | — | 9.9 | 21.2 | |||||||||||||||||||||||||||
Fixed Income Securities: | ||||||||||||||||||||||||||||||||
United States Government | — | 1,123.8 | — | — | 1,123.8 | |||||||||||||||||||||||||||
Corporate Debt | — | 61.6 | — | — | 61.6 | |||||||||||||||||||||||||||
State and Local Government | — | 3.3 | — | — | 3.3 | |||||||||||||||||||||||||||
Subtotal Fixed Income Securities | — | 1,188.7 | — | — | 1,188.7 | |||||||||||||||||||||||||||
Equity Securities - Domestic (b) | 2,131.3 | — | — | — | 2,131.3 | |||||||||||||||||||||||||||
Total Spent Nuclear Fuel and Decommissioning Trusts | 2,142.6 | 1,188.7 | — | 9.9 | 3,341.2 | |||||||||||||||||||||||||||
Total Assets | $ | 2,142.6 | $ | 1,200.0 | $ | 5.3 | $ | 8.7 | $ | 3,356.6 | ||||||||||||||||||||||
Liabilities: | ||||||||||||||||||||||||||||||||
Risk Management Liabilities | ||||||||||||||||||||||||||||||||
Risk Management Commodity Contracts (c) (g) | $ | — | $ | 0.6 | $ | 0.7 | $ | (1.3) | $ | — |
Level 1 | Level 2 | Level 3 | Other | Total | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Assets: | Assets: | (in millions) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Other | Total | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Risk Management Assets | Risk Management Assets | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Risk Management Commodity Contracts (g) | Risk Management Commodity Contracts (g) | $ | — | $ | 0.3 | $ | — | $ | — | $ | 0.3 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Liabilities: | Liabilities: | (in millions) | Liabilities: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Risk Management Liabilities | Risk Management Liabilities | Risk Management Liabilities | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Risk Management Commodity Contracts (c) (g) | $ | — | $ | 0.4 | $ | 54.0 | $ | (0.4) | $ | 54.0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Risk Management Commodity Contracts (g) | Risk Management Commodity Contracts (g) | $ | — | $ | — | $ | 51.6 | $ | — | $ | 51.6 |
Level 1 | Level 2 | Level 3 | Other | Total | ||||||||||||||||||||||||||||
Liabilities: | (in millions) | |||||||||||||||||||||||||||||||
Risk Management Liabilities | ||||||||||||||||||||||||||||||||
Risk Management Commodity Contracts (c) (g) | $ | — | $ | — | $ | 40.0 | $ | (0.3) | $ | 39.7 |
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) | $ | — | $ | 2.9 | $ | 44.7 | $ | (2.8) | $ | 44.8 | Risk Management Commodity Contracts (c) (g) | $ | — | $ | 0.5 | $ | 28.1 | $ | (0.4) | $ | 28.2 | ||||||||||||||||||||||||||||||||||||||||||
Liabilities: | Liabilities: | Liabilities: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Risk Management Liabilities | Risk Management Liabilities | Risk Management Liabilities | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Risk Management Commodity Contracts (c) (g) | Risk Management Commodity Contracts (c) (g) | $ | — | $ | 4.8 | $ | 1.6 | $ | (3.0) | $ | 3.4 | Risk Management Commodity Contracts (c) (g) | $ | — | $ | 6.6 | $ | 0.9 | $ | (0.3) | $ | 7.2 |
Level 1 | Level 2 | Level 3 | Other | Total | ||||||||||||||||||||||||||||
Assets: | (in millions) | |||||||||||||||||||||||||||||||
Risk Management Assets | ||||||||||||||||||||||||||||||||
Risk Management Commodity Contracts (c) (g) | $ | — | $ | — | $ | 24.0 | $ | 1.3 | $ | 25.3 | ||||||||||||||||||||||
Cash Flow Hedges: | ||||||||||||||||||||||||||||||||
Interest Rate Hedges | — | 1.6 | — | (1.6) | — | |||||||||||||||||||||||||||
Total Assets | $ | — | $ | 1.6 | $ | 24.0 | $ | (0.3) | $ | 25.3 | ||||||||||||||||||||||
Liabilities: | ||||||||||||||||||||||||||||||||
Risk Management Liabilities | ||||||||||||||||||||||||||||||||
Risk Management Commodity Contracts (c) (g) | $ | — | $ | 1.7 | $ | 0.3 | $ | (0.4) | $ | 1.6 |
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) | $ | — | $ | 0.4 | $ | 28.1 | $ | (0.5) | $ | 28.0 | Risk Management Commodity Contracts (c) (g) | $ | — | $ | 0.2 | $ | 17.4 | $ | (0.5) | $ | 17.1 | ||||||||||||||||||||||||||||||||||||||||||
Liabilities: | Liabilities: | Liabilities: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Risk Management Liabilities | Risk Management Liabilities | Risk Management Liabilities | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Risk Management Commodity Contracts (c) (g) | Risk Management Commodity Contracts (c) (g) | $ | — | $ | 0.5 | $ | 2.1 | $ | (0.8) | $ | 1.8 | Risk Management Commodity Contracts (c) (g) | $ | — | $ | 3.1 | $ | 0.9 | $ | (0.5) | $ | 3.5 |
Level 1 | Level 2 | Level 3 | Other | Total | ||||||||||||||||||||||||||||
Assets: | (in millions) | |||||||||||||||||||||||||||||||
Risk Management Assets | ||||||||||||||||||||||||||||||||
Risk Management Commodity Contracts (c) (g) | $ | — | $ | 2.2 | $ | 14.6 | $ | (0.4) | $ | 16.4 | ||||||||||||||||||||||
Liabilities: | ||||||||||||||||||||||||||||||||
Risk Management Liabilities | ||||||||||||||||||||||||||||||||
Risk Management Commodity Contracts (c) (g) | $ | — | $ | 1.6 | $ | 0.4 | $ | (0.6) | $ | 1.4 |
Three Months Ended June 30, 2023 | AEP | APCo | I&M | OPCo | PSO | SWEPCo | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Three Months Ended September 30, 2023 | Three Months Ended September 30, 2023 | AEP | APCo | I&M | OPCo | PSO | SWEPCo | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(in millions) | (in millions) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance as of March 31, 2023 | $ | 45.1 | $ | 5.7 | $ | 1.1 | $ | (46.9) | $ | 9.3 | $ | 5.8 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance as of June 30, 2023 | Balance as of June 30, 2023 | $ | 126.1 | $ | 39.4 | $ | 6.8 | $ | (54.0) | $ | 43.1 | $ | 26.0 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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) | (86.8) | (11.9) | (3.2) | (1.4) | (42.1) | (32.8) | Realized Gain (Loss) Included in Net Income (or Changes in Net Assets) (a) (b) | 39.7 | 10.0 | 2.3 | — | 14.2 | 14.0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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) | (15.8) | — | — | — | — | — | Unrealized Gain (Loss) Included in Net Income (or Changes in Net Assets) Relating to Assets Still Held at the Reporting Date (a) | 72.7 | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Realized and Unrealized Gains (Losses) Included in Other Comprehensive Income (c) | Realized and Unrealized Gains (Losses) Included in Other Comprehensive Income (c) | 4.7 | — | — | — | — | — | Realized and Unrealized Gains (Losses) Included in Other Comprehensive Income (c) | 4.9 | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Settlements | Settlements | 62.3 | 6.2 | 2.0 | 1.3 | 32.8 | 27.0 | Settlements | (87.1) | (16.5) | (3.7) | 1.1 | (30.5) | (24.8) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Transfers out of Level 3 (e) | Transfers out of Level 3 (e) | (3.1) | — | — | — | — | — | Transfers out of Level 3 (e) | 6.6 | 0.1 | (0.1) | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Changes in Fair Value Allocated to Regulated Jurisdictions (f) | Changes in Fair Value Allocated to Regulated Jurisdictions (f) | 119.7 | 39.4 | 6.9 | (7.0) | 43.1 | 26.0 | Changes in Fair Value Allocated to Regulated Jurisdictions (f) | 19.9 | 12.1 | 1.3 | 1.3 | 0.4 | 1.3 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance as of June 30, 2023 | $ | 126.1 | $ | 39.4 | $ | 6.8 | $ | (54.0) | $ | 43.1 | $ | 26.0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance as of September 30, 2023 | Balance as of September 30, 2023 | $ | 182.8 | $ | 45.1 | $ | 6.6 | $ | (51.6) | $ | 27.2 | $ | 16.5 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Three Months Ended June 30, 2022 | AEP | APCo | I&M | OPCo | PSO | SWEPCo | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance as of March 31, 2022 | $ | 82.8 | $ | 6.6 | $ | 1.0 | $ | (68.5) | $ | 6.5 | $ | 15.7 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Realized Gain (Loss) Included in Net Income (or Changes in Net Assets) (a) (b) | 38.6 | 5.7 | (0.3) | 0.9 | 11.9 | 19.9 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Unrealized Gain (Loss) Included in Net Income (or Changes in Net Assets) Relating to Assets Still Held at the Reporting Date (a) | (16.8) | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Realized and Unrealized Gains (Losses) Included in Other Comprehensive Income (c) | 5.7 | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Settlements | (69.3) | (12.4) | (0.7) | — | (18.4) | (27.9) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Transfers into Level 3 (d) (e) | 2.4 | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Transfers out of Level 3 (e) | 5.8 | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Changes in Fair Value Allocated to Regulated Jurisdictions (f) | 234.7 | 79.7 | 9.8 | 19.2 | 64.5 | 37.7 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance as of June 30, 2022 | $ | 283.9 | $ | 79.6 | $ | 9.8 | $ | (48.4) | $ | 64.5 | $ | 45.4 |
Three Months Ended September 30, 2022 | AEP | APCo | I&M | OPCo | PSO | SWEPCo | ||||||||||||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||||||||||||||||
Balance as of June 30, 2022 | $ | 283.9 | $ | 79.6 | $ | 9.8 | $ | (48.4) | $ | 64.5 | $ | 45.4 | ||||||||||||||||||||||||||
Realized Gain (Loss) Included in Net Income (or Changes in Net Assets) (a) (b) | 64.3 | 20.1 | 2.1 | 0.3 | 23.8 | 15.4 | ||||||||||||||||||||||||||||||||
Unrealized Gain (Loss) Included in Net Income (or Changes in Net Assets) Relating to Assets Still Held at the Reporting Date (a) | (12.6) | — | — | — | — | — | ||||||||||||||||||||||||||||||||
Realized and Unrealized Gains (Losses) Included in Other Comprehensive Income (c) | 13.1 | — | — | — | — | — | ||||||||||||||||||||||||||||||||
Settlements | (138.3) | (34.6) | (4.8) | (1.1) | (49.1) | (31.6) | ||||||||||||||||||||||||||||||||
Transfers into Level 3 (d) (e) | (0.5) | — | — | — | — | — | ||||||||||||||||||||||||||||||||
Transfers out of Level 3 (e) | 3.5 | — | — | — | — | — | ||||||||||||||||||||||||||||||||
Changes in Fair Value Allocated to Regulated Jurisdictions (f) | 72.5 | 41.5 | 2.5 | 6.0 | 5.2 | 7.0 | ||||||||||||||||||||||||||||||||
Balance as of September 30, 2022 | $ | 285.9 | $ | 106.6 | $ | 9.6 | $ | (43.2) | $ | 44.4 | $ | 36.2 |
Six Months Ended June 30, 2023 | AEP | APCo | I&M | OPCo | PSO | SWEPCo | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Nine Months Ended September 30, 2023 | Nine Months Ended September 30, 2023 | AEP | APCo | I&M | OPCo | PSO | SWEPCo | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(in millions) | (in millions) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance as of December 31, 2022 | Balance as of December 31, 2022 | $ | 160.4 | $ | 69.1 | $ | 4.6 | $ | (40.0) | $ | 23.7 | $ | 14.2 | Balance as of December 31, 2022 | $ | 160.4 | $ | 69.1 | $ | 4.6 | $ | (40.0) | $ | 23.7 | $ | 14.2 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Realized Gain (Loss) Included in Net Income (or Changes in Net Assets) (a) (b) | Realized Gain (Loss) Included in Net Income (or Changes in Net Assets) (a) (b) | (97.5) | (47.9) | (2.3) | (1.7) | (25.5) | (20.3) | Realized Gain (Loss) Included in Net Income (or Changes in Net Assets) (a) (b) | (41.3) | (47.0) | (1.7) | (2.4) | 3.5 | 5.9 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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) | (3.0) | — | — | — | — | — | Unrealized Gain (Loss) Included in Net Income (or Changes in Net Assets) Relating to Assets Still Held at the Reporting Date (a) | 67.7 | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Realized and Unrealized Gains (Losses) Included in Other Comprehensive Income (c) | Realized and Unrealized Gains (Losses) Included in Other Comprehensive Income (c) | (15.0) | — | — | — | — | — | Realized and Unrealized Gains (Losses) Included in Other Comprehensive Income (c) | (10.5) | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Settlements | Settlements | (23.0) | (21.1) | (2.2) | 2.4 | 1.8 | 6.1 | Settlements | (85.9) | (22.1) | (2.9) | 3.5 | (27.2) | (20.0) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Transfers into Level 3 (d) (e) | Transfers into Level 3 (d) (e) | (6.1) | — | — | — | — | — | Transfers into Level 3 (d) (e) | (6.1) | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Transfers out of Level 3 (e) | Transfers out of Level 3 (e) | (1.3) | — | — | — | — | — | Transfers out of Level 3 (e) | 3.8 | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Changes in Fair Value Allocated to Regulated Jurisdictions (f) | Changes in Fair Value Allocated to Regulated Jurisdictions (f) | 111.6 | 39.3 | 6.7 | (14.7) | 43.1 | 26.0 | Changes in Fair Value Allocated to Regulated Jurisdictions (f) | 94.7 | 45.1 | 6.6 | (12.7) | 27.2 | 16.4 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance as of June 30, 2023 | $ | 126.1 | $ | 39.4 | $ | 6.8 | $ | (54.0) | $ | 43.1 | $ | 26.0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Six Months Ended June 30, 2022 | AEP | APCo | I&M | OPCo | PSO | SWEPCo | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance as of December 31, 2021 | $ | 103.1 | $ | 41.7 | $ | (0.7) | $ | (92.5) | $ | 12.1 | $ | 10.9 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Realized Gain (Loss) Included in Net Income (or Changes in Net Assets) (a) (b) | 68.1 | 3.0 | 3.7 | 2.4 | 24.2 | 32.5 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Unrealized Gain (Loss) Included in Net Income (or Changes in Net Assets) Relating to Assets Still Held at the Reporting Date (a) | (35.7) | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Realized and Unrealized Gains (Losses) Included in Other Comprehensive Income (c) | 22.5 | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Settlements | (149.0) | (44.7) | (3.0) | 1.4 | (36.3) | (41.0) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Transfers into Level 3 (d) (e) | 4.4 | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Transfers out of Level 3 (e) | 9.6 | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Changes in Fair Value Allocated to Regulated Jurisdictions (f) | 260.9 | 79.6 | 9.8 | 40.3 | 64.5 | 43.0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance as of June 30, 2022 | $ | 283.9 | $ | 79.6 | $ | 9.8 | $ | (48.4) | $ | 64.5 | $ | 45.4 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance as of September 30, 2023 | Balance as of September 30, 2023 | $ | 182.8 | $ | 45.1 | $ | 6.6 | $ | (51.6) | $ | 27.2 | $ | 16.5 |
Nine Months Ended September 30, 2022 | AEP | APCo | I&M | OPCo | PSO | SWEPCo | ||||||||||||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||||||||||||||||
Balance as of December 31, 2021 | $ | 103.1 | $ | 41.7 | $ | (0.7) | $ | (92.5) | $ | 12.1 | $ | 10.9 | ||||||||||||||||||||||||||
Realized Gain (Loss) Included in Net Income (or Changes in Net Assets) (a) (b) | 69.3 | 3.0 | 3.7 | 4.6 | 24.2 | 35.8 | ||||||||||||||||||||||||||||||||
Unrealized Gain (Loss) Included in Net Income (or Changes in Net Assets) Relating to Assets Still Held at the Reporting Date (a) | (44.6) | — | — | — | — | — | ||||||||||||||||||||||||||||||||
Realized and Unrealized Gains (Losses) Included in Other Comprehensive Income (c) | 29.4 | — | — | — | — | — | ||||||||||||||||||||||||||||||||
Settlements | (153.8) | (44.7) | (3.0) | 0.2 | (36.3) | (45.0) | ||||||||||||||||||||||||||||||||
Transfers into Level 3 (d) (e) | 1.7 | — | — | — | — | — | ||||||||||||||||||||||||||||||||
Transfers out of Level 3 (e) | 13.2 | — | — | — | — | — | ||||||||||||||||||||||||||||||||
Changes in Fair Value Allocated to Regulated Jurisdictions (f) | 267.6 | 106.6 | 9.6 | 44.5 | 44.4 | 34.5 | ||||||||||||||||||||||||||||||||
Balance as of September 30, 2022 | $ | 285.9 | $ | 106.6 | $ | 9.6 | $ | (43.2) | $ | 44.4 | $ | 36.2 |
Significant | Input/Range | Significant | Input/Range | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Type of | Fair Value | Valuation | Unobservable | Weighted | Type of | Fair Value | Valuation | Unobservable | Weighted | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Company | Company | Input | Assets | Liabilities | Technique | Input | Low | High | Average (c) | Company | Input | Assets | Liabilities | Technique | Input | Low | High | Average (c) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(in millions) | (in millions) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
AEP | AEP | Energy Contracts | $ | 158.4 | $ | 158.1 | Discounted Cash Flow | Forward Market Price (a) | $ | 1.89 | $ | 90.40 | $ | 44.95 | AEP | Energy Contracts | $ | 224.3 | $ | 147.7 | Discounted Cash Flow | Forward Market Price (a) | $ | 5.98 | $ | 137.52 | $ | 45.43 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
AEP | AEP | Natural Gas Contracts | 0.2 | 0.2 | Discounted Cash Flow | Forward Market Price (b) | 2.14 | 4.21 | 3.21 | AEP | Natural Gas Contracts | — | 0.2 | Discounted Cash Flow | Forward Market Price (b) | 3.55 | 3.55 | 3.55 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
AEP | AEP | FTRs | 137.3 | 11.5 | Discounted Cash Flow | Forward Market Price (a) | (17.92) | 11.35 | (0.20) | AEP | FTRs | 114.2 | 7.8 | Discounted Cash Flow | Forward Market Price (a) | (17.92) | 17.07 | 0.29 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
APCo | Natural Gas Contracts | 0.2 | — | Discounted Cash Flow | Forward Market Price (b) | 2.91 | 4.19 | 3.35 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
APCo | APCo | FTRs | 40.9 | 1.7 | Discounted Cash Flow | Forward Market Price (a) | (3.60) | 9.53 | 1.37 | APCo | FTRs | 45.2 | 0.1 | Discounted Cash Flow | Forward Market Price (a) | (3.92) | 9.08 | 1.63 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
I&M | I&M | FTRs | 8.2 | 1.4 | Discounted Cash Flow | Forward Market Price (a) | (6.02) | 9.11 | 1.07 | I&M | FTRs | 7.9 | 1.3 | Discounted Cash Flow | Forward Market Price (a) | (4.36) | 9.08 | 1.08 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
OPCo | OPCo | Energy Contracts | — | 54.0 | Discounted Cash Flow | Forward Market Price (a) | 16.97 | 71.80 | 41.40 | OPCo | Energy Contracts | — | 51.6 | Discounted Cash Flow | Forward Market Price (a) | 19.89 | 65.40 | 41.66 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
PSO | PSO | FTRs | 44.7 | 1.6 | Discounted Cash Flow | Forward Market Price (a) | (17.92) | 0.87 | (4.44) | PSO | FTRs | 28.1 | 0.9 | Discounted Cash Flow | Forward Market Price (a) | (17.92) | 2.04 | (4.42) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
SWEPCo | SWEPCo | Natural Gas Contracts | — | 0.2 | Discounted Cash Flow | Forward Market Price (b) | 2.91 | 4.19 | 3.35 | SWEPCo | Natural Gas Contracts | — | 0.2 | Discounted Cash Flow | Forward Market Price (b) | 3.55 | 3.55 | 3.55 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
SWEPCo | SWEPCo | FTRs | 28.1 | 1.9 | Discounted Cash Flow | Forward Market Price (a) | (17.92) | 0.87 | (4.44) | SWEPCo | FTRs | 17.4 | 0.7 | Discounted Cash Flow | Forward Market Price (a) | (17.92) | 2.04 | (4.42) |
Significant | Input/Range | |||||||||||||||||||||||||||||||||||||||||||||||||
Type of | Fair Value | Valuation | Unobservable | Weighted | ||||||||||||||||||||||||||||||||||||||||||||||
Company | Input | Assets | Liabilities | Technique | Input (a) | Low | High | Average (c) | ||||||||||||||||||||||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||||||||||||||||||||||||||||
AEP | Energy Contracts | $ | 204.0 | $ | 167.4 | Discounted Cash Flow | Forward Market Price | $ | 2.91 | $ | 187.34 | $ | 49.14 | |||||||||||||||||||||||||||||||||||||
AEP | FTRs | 137.1 | 13.3 | Discounted Cash Flow | Forward Market Price | (36.45) | 20.72 | 1.18 | ||||||||||||||||||||||||||||||||||||||||||
APCo | FTRs | 69.4 | 0.3 | Discounted Cash Flow | Forward Market Price | (2.82) | 18.88 | 3.89 | ||||||||||||||||||||||||||||||||||||||||||
I&M | FTRs | 5.3 | 0.7 | Discounted Cash Flow | Forward Market Price | 0.16 | 18.79 | 1.23 | ||||||||||||||||||||||||||||||||||||||||||
OPCo | Energy Contracts | — | 40.0 | Discounted Cash Flow | Forward Market Price | 2.91 | 187.34 | 48.76 | ||||||||||||||||||||||||||||||||||||||||||
PSO | FTRs | 24.0 | 0.3 | Discounted Cash Flow | Forward Market Price | (36.45) | 3.40 | (7.55) | ||||||||||||||||||||||||||||||||||||||||||
SWEPCo | FTRs | 14.6 | 0.4 | Discounted Cash Flow | Forward Market Price | (36.45) | 3.40 | (7.55) |
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) | |||||||||||||||||
Three Months Ended June 30, 2023 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
AEP | AEP Texas | AEPTCo | APCo | I&M | OPCo | PSO | SWEPCo | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
U.S. Federal Statutory Rate | 21.0 | % | 21.0 | % | 21.0 | % | 21.0 | % | 21.0 | % | 21.0 | % | 21.0 | % | 21.0 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Increase (decrease) due to: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
State Income Tax, net of Federal Benefit | 2.1 | % | 0.6 | % | 2.6 | % | 3.2 | % | 0.7 | % | 0.8 | % | 2.0 | % | (1.6) | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Tax Reform Excess ADIT Reversal | (6.2) | % | (1.3) | % | 0.1 | % | (4.5) | % | (6.1) | % | (8.5) | % | (17.2) | % | (4.2) | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Production and Investment Tax Credits | (9.9) | % | (0.2) | % | — | % | (0.1) | % | 0.1 | % | — | % | (55.1) | % | (29.2) | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Flow Through | (1.0) | % | 0.1 | % | 0.2 | % | (5.1) | % | (4.4) | % | 1.2 | % | 0.3 | % | (0.8) | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
AFUDC Equity | (1.2) | % | (0.9) | % | (2.1) | % | (1.5) | % | (0.1) | % | (0.7) | % | (1.4) | % | — | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other | 0.4 | % | 0.3 | % | — | % | (0.4) | % | 0.1 | % | 0.1 | % | — | % | 0.7 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Effective Income Tax Rate | 5.2 | % | 19.6 | % | 21.8 | % | 12.6 | % | 11.3 | % | 13.9 | % | (50.4) | % | (14.1) | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Three Months Ended June 30, 2022 | Three Months Ended September 30, 2023 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | 1.3 | % | 0.7 | % | 2.9 | % | (1.0) | % | (1.3) | % | 1.0 | % | 3.9 | % | 2.5 | % | State Income Tax, net of Federal Benefit | 1.4 | % | 0.5 | % | 2.8 | % | 2.2 | % | 2.1 | % | 0.8 | % | 3.0 | % | (4.3) | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Tax Reform Excess ADIT Reversal | Tax Reform Excess ADIT Reversal | (7.1) | % | (2.1) | % | 0.3 | % | (20.4) | % | (17.2) | % | (7.8) | % | (19.2) | % | (5.2) | % | Tax Reform Excess ADIT Reversal | (5.7) | % | (1.3) | % | (0.2) | % | (5.3) | % | (8.5) | % | (6.8) | % | (17.0) | % | (6.2) | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Production and Investment Tax Credits | Production and Investment Tax Credits | (6.1) | % | (0.6) | % | — | % | — | % | (3.4) | % | — | % | (32.2) | % | (19.8) | % | Production and Investment Tax Credits | (5.1) | % | 0.1 | % | — | % | (0.1) | % | (0.7) | % | — | % | (46.9) | % | (25.5) | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Flow Through | Flow Through | (0.1) | % | 0.2 | % | 0.4 | % | (1.4) | % | (1.2) | % | 0.2 | % | 0.3 | % | — | % | Flow Through | 0.1 | % | 0.2 | % | 0.3 | % | 1.8 | % | 0.7 | % | 0.8 | % | 0.3 | % | (0.2) | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
AFUDC Equity | AFUDC Equity | (1.1) | % | (1.4) | % | (2.3) | % | (1.5) | % | (1.3) | % | (0.7) | % | (0.4) | % | (0.5) | % | AFUDC Equity | (1.4) | % | (1.4) | % | (2.4) | % | (1.5) | % | (0.5) | % | (0.8) | % | (1.6) | % | (0.8) | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Discrete Tax Adjustments | Discrete Tax Adjustments | 0.3 | % | — | % | — | % | (6.0) | % | — | % | — | % | — | % | 0.8 | % | Discrete Tax Adjustments | (4.1) | % | — | % | — | % | — | % | — | % | — | % | — | % | — | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other | Other | 1.1 | % | 0.1 | % | 0.1 | % | (0.2) | % | 1.3 | % | 0.1 | % | 0.5 | % | (0.1) | % | Other | 0.1 | % | (0.5) | % | (1.0) | % | 0.7 | % | (3.5) | % | 1.3 | % | (0.2) | % | 0.2 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Effective Income Tax Rate | Effective Income Tax Rate | 9.3 | % | 17.9 | % | 22.4 | % | (9.5) | % | (2.1) | % | 13.8 | % | (26.1) | % | (1.3) | % | Effective Income Tax Rate | 6.3 | % | 18.6 | % | 20.5 | % | 18.8 | % | 10.6 | % | 16.3 | % | (41.4) | % | (15.8) | % |
Three Months Ended September 30, 2022 | ||||||||||||||||||||||||||||||||||||||||||||||||||
AEP | AEP Texas | AEPTCo | APCo | I&M | OPCo | PSO | SWEPCo | |||||||||||||||||||||||||||||||||||||||||||
U.S. Federal Statutory Rate | 21.0 | % | 21.0 | % | 21.0 | % | 21.0 | % | 21.0 | % | 21.0 | % | 21.0 | % | 21.0 | % | ||||||||||||||||||||||||||||||||||
Increase (decrease) due to: | ||||||||||||||||||||||||||||||||||||||||||||||||||
State Income Tax, net of Federal Benefit | (0.8) | % | 0.5 | % | 2.6 | % | (6.2) | % | 2.7 | % | 0.7 | % | 3.0 | % | (5.3) | % | ||||||||||||||||||||||||||||||||||
Tax Reform Excess ADIT Reversal | (9.7) | % | (2.0) | % | 0.3 | % | (8.6) | % | (13.3) | % | (6.2) | % | (21.9) | % | (4.6) | % | ||||||||||||||||||||||||||||||||||
Production and Investment Tax Credits | (12.0) | % | (0.4) | % | — | % | — | % | — | % | — | % | (43.7) | % | (24.1) | % | ||||||||||||||||||||||||||||||||||
Flow Through | (0.3) | % | 0.2 | % | 0.3 | % | (0.7) | % | (1.5) | % | 0.4 | % | 0.4 | % | (1.3) | % | ||||||||||||||||||||||||||||||||||
AFUDC Equity | (1.4) | % | (1.2) | % | (1.9) | % | (0.4) | % | (0.6) | % | (0.8) | % | (0.4) | % | (0.2) | % | ||||||||||||||||||||||||||||||||||
Discrete Tax Adjustments | (0.2) | % | — | % | — | % | — | % | — | % | — | % | — | % | — | % | ||||||||||||||||||||||||||||||||||
Other | 1.0 | % | 0.2 | % | 0.2 | % | — | % | (0.5) | % | 0.2 | % | 0.2 | % | (0.2) | % | ||||||||||||||||||||||||||||||||||
Effective Income Tax Rate | (2.4) | % | 18.3 | % | 22.5 | % | 5.1 | % | 7.8 | % | 15.3 | % | (41.4) | % | (14.7) | % |
Six Months Ended June 30, 2023 | Nine Months Ended September 30, 2023 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | 2.0 | % | 0.5 | % | 2.6 | % | 2.6 | % | 2.4 | % | 0.9 | % | 2.0 | % | (1.2) | % | State Income Tax, net of Federal Benefit | 1.7 | % | 0.5 | % | 2.7 | % | 2.4 | % | 2.3 | % | 0.9 | % | 2.8 | % | (2.9) | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Tax Reform Excess ADIT Reversal | Tax Reform Excess ADIT Reversal | (6.2) | % | (1.4) | % | 0.2 | % | (4.5) | % | (7.2) | % | (7.6) | % | (17.1) | % | (4.0) | % | Tax Reform Excess ADIT Reversal | (6.0) | % | (1.3) | % | 0.1 | % | (4.8) | % | (7.6) | % | (7.3) | % | (17.1) | % | (5.3) | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Production and Investment Tax Credits | Production and Investment Tax Credits | (9.8) | % | (0.2) | % | — | % | (0.1) | % | (0.6) | % | — | % | (55.2) | % | (28.2) | % | Production and Investment Tax Credits | (7.4) | % | — | % | — | % | (0.1) | % | (0.6) | % | — | % | (48.9) | % | (26.7) | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Flow Through | Flow Through | (0.5) | % | 0.2 | % | 0.2 | % | (0.8) | % | (2.9) | % | 0.8 | % | 0.3 | % | (0.3) | % | Flow Through | (0.2) | % | 0.2 | % | 0.3 | % | 0.1 | % | (1.7) | % | 0.8 | % | 0.3 | % | (0.3) | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
AFUDC Equity | AFUDC Equity | (1.3) | % | (1.1) | % | (1.8) | % | (0.9) | % | (0.3) | % | (0.8) | % | (1.4) | % | (0.3) | % | AFUDC Equity | (1.4) | % | (1.2) | % | (2.0) | % | (1.2) | % | (0.4) | % | (0.8) | % | (1.5) | % | (0.5) | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Discrete Tax Adjustments | Discrete Tax Adjustments | (1.4) | % | — | % | — | % | 2.4 | % | 1.0 | % | — | % | — | % | — | % | Discrete Tax Adjustments | (2.8) | % | — | % | — | % | 1.5 | % | 0.7 | % | — | % | — | % | — | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other | Other | 0.3 | % | 0.2 | % | — | % | (0.1) | % | 0.1 | % | 0.1 | % | 0.1 | % | 0.1 | % | Other | 0.3 | % | (0.2) | % | (0.5) | % | 0.4 | % | (1.2) | % | 0.5 | % | (0.2) | % | 0.2 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Effective Income Tax Rate | Effective Income Tax Rate | 4.1 | % | 19.2 | % | 22.2 | % | 19.6 | % | 13.5 | % | 14.4 | % | (50.3) | % | (12.9) | % | Effective Income Tax Rate | 5.2 | % | 19.0 | % | 21.6 | % | 19.3 | % | 12.5 | % | 15.1 | % | (43.6) | % | (14.5) | % |
Six Months Ended June 30, 2022 | ||||||||||||||||||||||||||||||||||||||||||||||||||
AEP | AEP Texas | AEPTCo | APCo | I&M | OPCo | PSO | SWEPCo | |||||||||||||||||||||||||||||||||||||||||||
U.S. Federal Statutory Rate | 21.0 | % | 21.0 | % | 21.0 | % | 21.0 | % | 21.0 | % | 21.0 | % | 21.0 | % | 21.0 | % | ||||||||||||||||||||||||||||||||||
Increase (decrease) due to: | ||||||||||||||||||||||||||||||||||||||||||||||||||
State Income Tax, net of Federal Benefit | 1.4 | % | 0.5 | % | 2.7 | % | 1.5 | % | 0.4 | % | 0.9 | % | 3.5 | % | 2.4 | % | ||||||||||||||||||||||||||||||||||
Tax Reform Excess ADIT Reversal | (6.8) | % | (2.0) | % | 0.3 | % | (11.0) | % | (17.2) | % | (7.8) | % | (18.6) | % | (5.1) | % | ||||||||||||||||||||||||||||||||||
Production and Investment Tax Credits | (7.1) | % | (0.4) | % | — | % | — | % | (2.3) | % | — | % | (31.4) | % | (20.8) | % | ||||||||||||||||||||||||||||||||||
Flow Through | 0.1 | % | 0.2 | % | 0.3 | % | 0.6 | % | (1.6) | % | 0.6 | % | 0.3 | % | (0.2) | % | ||||||||||||||||||||||||||||||||||
AFUDC Equity | (1.0) | % | (1.1) | % | (1.9) | % | (1.0) | % | (0.9) | % | (0.6) | % | (0.5) | % | (0.5) | % | ||||||||||||||||||||||||||||||||||
Discrete Tax Adjustments | (0.2) | % | — | % | — | % | (2.6) | % | — | % | — | % | — | % | 0.5 | % | ||||||||||||||||||||||||||||||||||
Other | 0.5 | % | (0.1) | % | 0.2 | % | — | % | 0.4 | % | (0.1) | % | 0.3 | % | — | % | ||||||||||||||||||||||||||||||||||
Effective Income Tax Rate | 7.9 | % | 18.1 | % | 22.6 | % | 8.5 | % | (0.2) | % | 14.0 | % | (25.4) | % | (2.7) | % |
Nine Months Ended September 30, 2022 | ||||||||||||||||||||||||||||||||||||||||||||||||||
AEP | AEP Texas | AEPTCo | APCo | I&M | OPCo | PSO | SWEPCo | |||||||||||||||||||||||||||||||||||||||||||
U.S. Federal Statutory Rate | 21.0 | % | 21.0 | % | 21.0 | % | 21.0 | % | 21.0 | % | 21.0 | % | 21.0 | % | 21.0 | % | ||||||||||||||||||||||||||||||||||
Increase (decrease) due to: | ||||||||||||||||||||||||||||||||||||||||||||||||||
State Income Tax, net of Federal Benefit | 0.7 | % | 0.5 | % | 2.7 | % | (0.8) | % | 1.3 | % | 0.8 | % | 3.2 | % | (1.5) | % | ||||||||||||||||||||||||||||||||||
Tax Reform Excess ADIT Reversal | (7.8) | % | (2.0) | % | 0.3 | % | (10.3) | % | (15.7) | % | (7.3) | % | (20.8) | % | (4.8) | % | ||||||||||||||||||||||||||||||||||
Production and Investment Tax Credits | (8.7) | % | (0.4) | % | — | % | — | % | (1.4) | % | — | % | (39.5) | % | (22.5) | % | ||||||||||||||||||||||||||||||||||
Flow Through | — | % | 0.2 | % | 0.3 | % | 0.2 | % | (1.6) | % | 0.5 | % | 0.3 | % | (0.8) | % | ||||||||||||||||||||||||||||||||||
AFUDC Equity | (1.1) | % | (1.2) | % | (1.9) | % | (0.8) | % | (0.8) | % | (0.7) | % | (0.4) | % | (0.4) | % | ||||||||||||||||||||||||||||||||||
Discrete Tax Adjustments | (0.2) | % | — | % | — | % | (1.8) | % | — | % | — | % | — | % | 0.3 | % | ||||||||||||||||||||||||||||||||||
Other | 0.6 | % | 0.1 | % | 0.1 | % | — | % | 0.2 | % | 0.1 | % | 0.2 | % | — | % | ||||||||||||||||||||||||||||||||||
Effective Income Tax Rate | 4.5 | % | 18.2 | % | 22.5 | % | 7.5 | % | 3.0 | % | 14.4 | % | (36.0) | % | (8.7) | % |
Type of Debt | Type of Debt | June 30, 2023 | December 31, 2022 | Type of Debt | September 30, 2023 | December 31, 2022 | ||||||||||||||||||||||
(in millions) | (in millions) | |||||||||||||||||||||||||||
Senior Unsecured Notes | Senior Unsecured Notes | $ | 33,491.5 | $ | 30,174.8 | Senior Unsecured Notes | $ | 32,881.6 | $ | 30,174.8 | ||||||||||||||||||
Pollution Control Bonds | Pollution Control Bonds | 1,770.9 | 1,770.2 | Pollution Control Bonds | 1,771.0 | 1,770.2 | ||||||||||||||||||||||
Notes Payable | Notes Payable | 165.8 | 269.7 | Notes Payable | 141.5 | 269.7 | ||||||||||||||||||||||
Securitization Bonds | Securitization Bonds | 432.1 | 487.8 | Securitization Bonds | 407.0 | 487.8 | ||||||||||||||||||||||
Spent Nuclear Fuel Obligation (a) | Spent Nuclear Fuel Obligation (a) | 292.3 | 285.6 | Spent Nuclear Fuel Obligation (a) | 296.3 | 285.6 | ||||||||||||||||||||||
Junior Subordinated Notes (b) | Junior Subordinated Notes (b) | 2,385.0 | 2,381.3 | Junior Subordinated Notes (b) | 2,386.6 | 2,381.3 | ||||||||||||||||||||||
Other Long-term Debt | Other Long-term Debt | 1,604.7 | 1,431.6 | Other Long-term Debt | 1,605.1 | 1,431.6 | ||||||||||||||||||||||
Total Long-term Debt Outstanding | Total Long-term Debt Outstanding | 40,142.3 | 36,801.0 | Total Long-term Debt Outstanding | 39,489.1 | 36,801.0 | ||||||||||||||||||||||
Long-term Debt Due Within One Year | Long-term Debt Due Within One Year | 3,380.3 | 2,486.4 | Long-term Debt Due Within One Year | 2,773.6 | 2,486.4 | ||||||||||||||||||||||
Long-term Debt | Long-term Debt | $ | 36,762.0 | $ | 34,314.6 | Long-term Debt | $ | 36,715.5 | $ | 34,314.6 |
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 | $ | 850.0 | 5.63 | 2033 | AEP | Senior Unsecured Notes | $ | 850.0 | 5.63 | 2033 | ||||||||||||||||||||||||||||||||||||||||
AEPTCo | AEPTCo | Senior Unsecured Notes | 700.0 | 5.40 | 2053 | AEPTCo | Senior Unsecured Notes | 700.0 | 5.40 | 2053 | ||||||||||||||||||||||||||||||||||||||||||
AEP Texas | AEP Texas | Pollution Control Bonds | 60.0 | 4.25 | 2030 | |||||||||||||||||||||||||||||||||||||||||||||||
AEP Texas | AEP Texas | Senior Unsecured Notes | 450.0 | 5.40 | 2033 | AEP Texas | Senior Unsecured Notes | 450.0 | 5.40 | 2033 | ||||||||||||||||||||||||||||||||||||||||||
APCo | APCo | Other Long-term Debt | 200.0 | Variable | 2024 | APCo | Other Long-term Debt | 200.0 | Variable | 2024 | ||||||||||||||||||||||||||||||||||||||||||
I&M | I&M | Senior Unsecured Notes | 500.0 | 5.63 | 2053 | I&M | Senior Unsecured Notes | 500.0 | 5.63 | 2053 | ||||||||||||||||||||||||||||||||||||||||||
OPCo | OPCo | Senior Unsecured Notes | 400.0 | 5.00 | 2033 | OPCo | Senior Unsecured Notes | 400.0 | 5.00 | 2033 | ||||||||||||||||||||||||||||||||||||||||||
PSO | PSO | Senior Unsecured Notes | 475.0 | 5.25 | 2033 | PSO | Senior Unsecured Notes | 475.0 | 5.25 | 2033 | ||||||||||||||||||||||||||||||||||||||||||
SWEPCo | SWEPCo | Senior Unsecured Notes | 350.0 | 5.30 | 2033 | SWEPCo | Senior Unsecured Notes | 350.0 | 5.30 | 2033 | ||||||||||||||||||||||||||||||||||||||||||
Non-Registrant: | Non-Registrant: | Non-Registrant: | ||||||||||||||||||||||||||||||||||||||||||||||||||
KPCo | KPCo | Pollution Control Bonds | 65.0 | 4.70 | 2026 | KPCo | Pollution Control Bonds | 65.0 | 4.70 | 2026 | ||||||||||||||||||||||||||||||||||||||||||
Transource Energy | Transource Energy | Other Long-term Debt | 13.0 | Variable | 2025 | Transource Energy | Other Long-term Debt | 14.0 | Variable | 2025 | ||||||||||||||||||||||||||||||||||||||||||
Total Issuances | Total Issuances | $ | 4,003.0 | Total Issuances | $ | 4,064.0 |
Principal | Interest | |||||||||||||||||||||||||
Company | Type of Debt | Amount Paid | Rate | Due Date | ||||||||||||||||||||||
Retirements and Principal Payments: | (in millions) | (%) | ||||||||||||||||||||||||
AEP Texas | Senior Unsecured Notes | $ | 125.0 | 3.09 | 2023 | |||||||||||||||||||||
AEP Texas | Securitization Bonds | 31.5 | 2.85 | 2024 | ||||||||||||||||||||||
AEP Texas | Securitization Bonds | 11.7 | 2.06 | 2025 | ||||||||||||||||||||||
APCo | Securitization Bonds | 9.7 | 2.01 | 2023 | ||||||||||||||||||||||
APCo | Securitization Bonds | 3.3 | 3.77 | 2028 | ||||||||||||||||||||||
I&M | Senior Unsecured Notes | 250.0 | 3.20 | 2023 | ||||||||||||||||||||||
I&M | Notes Payable | 1.2 | Variable | 2023 | ||||||||||||||||||||||
I&M | Notes Payable | 2.4 | Variable | 2024 | ||||||||||||||||||||||
I&M | Notes Payable | 9.2 | Variable | 2025 | ||||||||||||||||||||||
I&M | Notes Payable | 7.9 | 0.93 | 2025 | ||||||||||||||||||||||
I&M | Notes Payable | 13.7 | 3.44 | 2026 | ||||||||||||||||||||||
I&M | Notes Payable | 13.6 | 5.93 | 2027 | ||||||||||||||||||||||
I&M | Other Long-term Debt | 1.2 | 6.00 | 2025 | ||||||||||||||||||||||
OPCo | Other Long-term Debt | 0.6 | 1.15 | 2028 | ||||||||||||||||||||||
PSO | Other Long-term Debt | 0.3 | 3.00 | 2027 | ||||||||||||||||||||||
SWEPCo | Notes Payable | 25.0 | 6.37 | 2024 | ||||||||||||||||||||||
SWEPCo | Notes Payable | 30.9 | 4.58 | 2032 | ||||||||||||||||||||||
SWEPCo | Other Long-term Debt | 38.2 | 4.68 | 2028 | ||||||||||||||||||||||
Non-Registrant: | ||||||||||||||||||||||||||
KPCo | Pollution Control Bonds | 65.0 | 2.35 | 2023 | ||||||||||||||||||||||
Transource Energy | Senior Unsecured Notes | 1.3 | 2.75 | 2050 | ||||||||||||||||||||||
Total Retirements and Principal Payments | $ | 641.7 |
Principal | Interest | |||||||||||||||||||||||||
Company | Type of Debt | Amount Paid | Rate | Due Date | ||||||||||||||||||||||
Retirements and Principal Payments: | (in millions) | (%) | ||||||||||||||||||||||||
AEP | Senior Unsecured Notes | $ | 600.0 | Variable | 2023 | |||||||||||||||||||||
AEP Texas | Pollution Control Bonds | 60.0 | 0.90 | 2023 | ||||||||||||||||||||||
AEP Texas | Senior Unsecured Notes | 125.0 | 3.09 | 2023 | ||||||||||||||||||||||
AEP Texas | Securitization Bonds | 31.5 | 2.85 | 2024 | ||||||||||||||||||||||
AEP Texas | Securitization Bonds | 23.5 | 2.06 | 2025 | ||||||||||||||||||||||
APCo | Securitization Bonds | 9.7 | 2.01 | 2023 | ||||||||||||||||||||||
APCo | Securitization Bonds | 16.8 | 3.77 | 2028 | ||||||||||||||||||||||
I&M | Senior Unsecured Notes | 250.0 | 3.20 | 2023 | ||||||||||||||||||||||
I&M | Notes Payable | 1.8 | Variable | 2023 | ||||||||||||||||||||||
I&M | Notes Payable | 3.7 | Variable | 2024 | ||||||||||||||||||||||
I&M | Notes Payable | 13.8 | Variable | 2025 | ||||||||||||||||||||||
I&M | Notes Payable | 12.0 | 0.93 | 2025 | ||||||||||||||||||||||
I&M | Notes Payable | 20.6 | 3.44 | 2026 | ||||||||||||||||||||||
I&M | Notes Payable | 20.5 | 5.93 | 2027 | ||||||||||||||||||||||
I&M | Other Long-term Debt | 1.7 | 6.00 | 2025 | ||||||||||||||||||||||
OPCo | Other Long-term Debt | 0.6 | 1.15 | 2028 | ||||||||||||||||||||||
PSO | Other Long-term Debt | 0.4 | 3.00 | 2027 | ||||||||||||||||||||||
SWEPCo | Notes Payable | 25.0 | 6.37 | 2024 | ||||||||||||||||||||||
SWEPCo | Notes Payable | 30.9 | 4.58 | 2032 | ||||||||||||||||||||||
SWEPCo | Other Long-Term Debt | 38.2 | 4.68 | 2028 | ||||||||||||||||||||||
Non-Registrant: | ||||||||||||||||||||||||||
KPCo | Pollution Control Bonds | 65.0 | 2.35 | 2023 | ||||||||||||||||||||||
Transource Energy | Senior Unsecured Notes | 2.6 | 2.75 | 2050 | ||||||||||||||||||||||
Total Retirements and Principal Payments | $ | 1,353.3 |
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 | June 30, 2023 | Limit | Company | Money Pool | Money Pool | Money Pool | Money Pool | September 30, 2023 | Limit | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(in millions) | (in millions) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
AEP Texas | AEP Texas | $ | 477.5 | $ | — | $ | 279.9 | $ | — | $ | (135.9) | $ | 500.0 | AEP Texas | $ | 477.5 | $ | 42.0 | $ | 250.4 | $ | 42.0 | $ | 42.0 | $ | 500.0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
AEPTCo | AEPTCo | 471.3 | 309.4 | 153.1 | 85.9 | 26.9 | 820.0 | (a) | AEPTCo | 471.3 | 309.4 | 134.3 | 76.0 | 7.2 | 820.0 | (a) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
APCo | APCo | 388.6 | 19.8 | 295.0 | 18.9 | (247.2) | 500.0 | APCo | 388.6 | 19.8 | 280.8 | 19.0 | (183.2) | 500.0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
I&M | I&M | 475.3 | 100.3 | 174.0 | 43.0 | 40.5 | 500.0 | I&M | 475.3 | 112.2 | 126.0 | 49.3 | 21.2 | 500.0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
OPCo | OPCo | 485.7 | 64.7 | 266.4 | 40.2 | (72.3) | 500.0 | OPCo | 485.7 | 64.7 | 207.1 | 40.2 | (113.3) | 500.0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
PSO | PSO | 375.0 | 121.5 | 127.5 | 74.8 | (68.1) | 400.0 | PSO | 375.0 | 121.5 | 106.3 | 53.9 | 9.2 | 400.0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
SWEPCo | SWEPCo | 401.6 | (b) | — | 220.6 | — | (32.6) | 400.0 | SWEPCo | 401.6 | (b) | 25.8 | 165.3 | 16.5 | (48.9) | 400.0 |
Maximum Loans | Average Loans | Loans to the Nonutility | ||||||||||||||||||
to the Nonutility | to the Nonutility | Money Pool as of | ||||||||||||||||||
Company | Money Pool | Money Pool | June 30, 2023 | |||||||||||||||||
(in millions) | ||||||||||||||||||||
AEP Texas | $ | 6.9 | $ | 6.8 | $ | 6.9 | ||||||||||||||
SWEPCo | 2.2 | 2.1 | 2.2 |
Maximum Loans | Average Loans | Loans to the Nonutility | ||||||||||||||||||
to the Nonutility | to the Nonutility | Money Pool as of | ||||||||||||||||||
Company | Money Pool | Money Pool | September 30, 2023 | |||||||||||||||||
(in millions) | ||||||||||||||||||||
AEP Texas | $ | 7.0 | $ | 6.9 | $ | 7.0 | ||||||||||||||
SWEPCo | 2.7 | 2.3 | 2.7 |
Maximum | Maximum | Average | Average | Borrowings from | Loans to | Authorized | |||||||||||||||||||||||||||||||||||
Borrowings | Loans | Borrowings | Loans | AEP as of | AEP as of | Short-term | |||||||||||||||||||||||||||||||||||
from AEP | to AEP | from AEP | to AEP | June 30, 2023 | June 30, 2023 | Borrowing Limit | |||||||||||||||||||||||||||||||||||
(in millions) | |||||||||||||||||||||||||||||||||||||||||
$ | 29.4 | $ | 158.1 | $ | 2.9 | $ | 70.2 | $ | 21.9 | $ | — | $ | 50.0 | (a) |
Maximum | Maximum | Average | Average | Borrowings from | Loans to | Authorized | |||||||||||||||||||||||||||||||||||
Borrowings | Loans | Borrowings | Loans | AEP as of | AEP as of | Short-term | |||||||||||||||||||||||||||||||||||
from AEP | to AEP | from AEP | to AEP | September 30, 2023 | September 30, 2023 | Borrowing Limit | |||||||||||||||||||||||||||||||||||
(in millions) | |||||||||||||||||||||||||||||||||||||||||
$ | 37.9 | $ | 158.1 | $ | 3.0 | $ | 67.5 | $ | 33.4 | $ | — | $ | 50.0 | (a) |
Six Months Ended June 30, | Nine Months Ended September 30, | |||||||||||||||||||||||||||
2023 | 2022 | 2023 | 2022 | |||||||||||||||||||||||||
Maximum Interest Rate | Maximum Interest Rate | 5.69 | % | 2.11 | % | Maximum Interest Rate | 5.81 | % | 3.39 | % | ||||||||||||||||||
Minimum Interest Rate | Minimum Interest Rate | 4.66 | % | 0.10 | % | Minimum Interest Rate | 4.66 | % | 0.10 | % |
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 Six Months Ended June 30, | for Six Months Ended June 30, | for Nine Months Ended September 30, | for Nine Months Ended September 30, | |||||||||||||||||||||||||||||||||||||||||||||||||
Company | Company | 2023 | 2022 | 2023 | 2022 | Company | 2023 | 2022 | 2023 | 2022 | ||||||||||||||||||||||||||||||||||||||||||
AEP Texas | AEP Texas | 5.35 | % | 0.90 | % | — | % | 1.48 | % | AEP Texas | 5.44 | % | 0.90 | % | 5.70 | % | 1.82 | % | ||||||||||||||||||||||||||||||||||
AEPTCo | AEPTCo | 5.16 | % | 0.93 | % | 5.46 | % | 1.49 | % | AEPTCo | 5.29 | % | 1.03 | % | 5.52 | % | 2.14 | % | ||||||||||||||||||||||||||||||||||
APCo | APCo | 5.36 | % | 1.08 | % | 5.35 | % | 0.95 | % | APCo | 5.47 | % | 1.39 | % | 5.47 | % | 2.13 | % | ||||||||||||||||||||||||||||||||||
I&M | I&M | 5.13 | % | 0.92 | % | 5.42 | % | 0.96 | % | I&M | 5.13 | % | 1.38 | % | 5.54 | % | 1.46 | % | ||||||||||||||||||||||||||||||||||
OPCo | OPCo | 5.30 | % | 0.83 | % | 5.60 | % | 1.20 | % | OPCo | 5.37 | % | 1.81 | % | 5.60 | % | 1.22 | % | ||||||||||||||||||||||||||||||||||
PSO | PSO | 5.47 | % | 1.17 | % | 5.11 | % | 0.65 | % | PSO | 5.48 | % | 1.70 | % | 5.24 | % | 0.75 | % | ||||||||||||||||||||||||||||||||||
SWEPCo | SWEPCo | 5.22 | % | 1.25 | % | — | % | 0.55 | % | SWEPCo | 5.25 | % | 1.67 | % | 5.72 | % | 0.55 | % |
Six Months Ended June 30, 2023 | Six Months Ended June 30, 2022 | Nine Months Ended September 30, 2023 | Nine Months Ended September 30, 2022 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | 5.69 | % | 4.66 | % | 5.35 | % | 2.11 | % | 0.46 | % | 0.98 | % | AEP Texas | 5.81 | % | 4.66 | % | 5.47 | % | 3.39 | % | 0.46 | % | 1.51 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||
SWEPCo | SWEPCo | 5.69 | % | 4.66 | % | 5.35 | % | 2.11 | % | 0.46 | % | 0.98 | % | SWEPCo | 5.81 | % | 4.66 | % | 5.49 | % | 3.39 | % | 0.46 | % | 1.52 | % |
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 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Six 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 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
June 30, | 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 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2023 | 2023 | 5.69 | % | 4.53 | % | 5.69 | % | 4.53 | % | 5.27 | % | 5.35 | % | 2023 | 5.81 | % | 4.53 | % | 5.81 | % | 4.53 | % | 5.43 | % | 5.46 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||
2022 | 2022 | 2.11 | % | 0.46 | % | 2.11 | % | 0.46 | % | 1.02 | % | 0.89 | % | 2022 | 3.39 | % | 0.46 | % | 3.37 | % | 0.46 | % | 1.56 | % | 1.38 | % |
June 30, 2023 | December 31, 2022 | September 30, 2023 | December 31, 2022 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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) | $ | 750.0 | 5.45 | % | $ | 750.0 | 4.67 | % | AEP | Securitized Debt for Receivables (b) | $ | 900.0 | 5.60 | % | $ | 750.0 | 4.67 | % | ||||||||||||||||||||||||||||||||||||||||||||
AEP | AEP | Commercial Paper | 2,238.7 | 5.50 | % | 2,862.2 | 4.80 | % | AEP | Commercial Paper | 1,826.5 | 5.64 | % | 2,862.2 | 4.80 | % | ||||||||||||||||||||||||||||||||||||||||||||||||
AEP | Term Loan | 500.0 | 6.08 | % | — | — | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
AEP | AEP | Term Loan | 150.0 | 5.94 | % | 150.0 | 5.17 | % | AEP | Term Loan | — | — | % | 150.0 | 5.17 | % | ||||||||||||||||||||||||||||||||||||||||||||||||
AEP | AEP | Term Loan | 125.0 | 5.94 | % | 125.0 | 5.17 | % | AEP | Term Loan | — | — | % | 125.0 | 5.17 | % | ||||||||||||||||||||||||||||||||||||||||||||||||
AEP | AEP | Term Loan | 100.0 | 5.94 | % | 100.0 | 5.23 | % | AEP | Term Loan | — | — | % | 100.0 | 5.23 | % | ||||||||||||||||||||||||||||||||||||||||||||||||
AEP | AEP | Term Loan | — | — | % | 125.0 | 4.87 | % | AEP | Term Loan | — | — | % | 125.0 | 4.87 | % | ||||||||||||||||||||||||||||||||||||||||||||||||
SWEPCo | SWEPCo | Notes Payable | 3.9 | 7.53 | % | — | — | % | SWEPCo | Notes Payable | 3.9 | 7.67 | % | — | — | % | ||||||||||||||||||||||||||||||||||||||||||||||||
AEP | Total Short-term Debt | $ | 3,867.6 | $ | 4,112.2 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Short-term Debt | $ | 2,730.4 | $ | 4,112.2 |
Three Months Ended June 30, | Six Months Ended June 30, | Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||||||||||||||||||||||||||||||||||||
2023 | 2022 | 2023 | 2022 | 2023 | 2022 | 2023 | 2022 | |||||||||||||||||||||||||||||||||||||||||||||
(dollars in millions) | (dollars in millions) | |||||||||||||||||||||||||||||||||||||||||||||||||||
Effective Interest Rates on Securitization of Accounts Receivable | Effective Interest Rates on Securitization of Accounts Receivable | 5.25 | % | 0.91 | % | 5.06 | % | 0.61 | % | Effective Interest Rates on Securitization of Accounts Receivable | 5.55 | % | 2.25 | % | 5.23 | % | 1.16 | % | ||||||||||||||||||||||||||||||||||
Net Uncollectible Accounts Receivable Written-Off | Net Uncollectible Accounts Receivable Written-Off | $ | 7.3 | $ | 6.2 | $ | 14.1 | $ | 13.6 | Net Uncollectible Accounts Receivable Written-Off | $ | 8.8 | $ | 9.5 | $ | 22.9 | $ | 23.1 |
June 30, 2023 | December 31, 2022 | September 30, 2023 | December 31, 2022 | |||||||||||||||||||||||||
(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 | $ | 1,184.9 | $ | 1,167.7 | Accounts Receivable Retained Interest and Pledged as Collateral Less Uncollectible Accounts | $ | 1,257.0 | $ | 1,167.7 | ||||||||||||||||||
Short-term – Securitized Debt of Receivables | Short-term – Securitized Debt of Receivables | 750.0 | 750.0 | Short-term – Securitized Debt of Receivables | 900.0 | 750.0 | ||||||||||||||||||||||
Delinquent Securitized Accounts Receivable | Delinquent Securitized Accounts Receivable | 49.4 | 44.2 | Delinquent Securitized Accounts Receivable | 59.5 | 44.2 | ||||||||||||||||||||||
Bad Debt Reserves Related to Securitization | Bad Debt Reserves Related to Securitization | 41.7 | 39.7 | Bad Debt Reserves Related to Securitization | 42.2 | 39.7 | ||||||||||||||||||||||
Unbilled Receivables Related to Securitization | Unbilled Receivables Related to Securitization | 392.4 | 360.9 | Unbilled Receivables Related to Securitization | 301.8 | 360.9 |
Company | Company | June 30, 2023 | December 31, 2022 | Company | September 30, 2023 | December 31, 2022 | ||||||||||||||||||||||
(in millions) | (in millions) | |||||||||||||||||||||||||||
APCo | APCo | $ | 181.9 | $ | 194.4 | APCo | $ | 170.5 | $ | 194.4 | ||||||||||||||||||
I&M | I&M | 177.3 | 166.9 | I&M | 176.2 | 166.9 | ||||||||||||||||||||||
OPCo | OPCo | 477.4 | 478.6 | OPCo | 479.3 | 478.6 | ||||||||||||||||||||||
PSO | PSO | 177.8 | 155.5 | PSO | 211.5 | 155.5 | ||||||||||||||||||||||
SWEPCo | SWEPCo | 191.6 | 194.0 | SWEPCo | 210.2 | 194.0 |
Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||||||||||||
Company | 2023 | 2022 | 2023 | 2022 | ||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||||
APCo | $ | 4.3 | $ | 1.5 | $ | 9.2 | $ | 2.8 | ||||||||||||||||||
I&M | 3.9 | 2.0 | 7.8 | 3.7 | ||||||||||||||||||||||
OPCo | 7.6 | 7.5 | 14.9 | 14.9 | ||||||||||||||||||||||
PSO | 3.5 | 1.3 | 6.7 | 2.2 | ||||||||||||||||||||||
SWEPCo | 4.4 | 1.5 | 8.7 | 2.8 |
Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||||||||||||
Company | 2023 | 2022 | 2023 | 2022 | ||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||||
APCo | $ | 4.1 | $ | 2.8 | $ | 13.3 | $ | 5.6 | ||||||||||||||||||
I&M | 4.4 | 2.8 | 12.2 | 6.5 | ||||||||||||||||||||||
OPCo | 7.4 | 7.3 | 22.3 | 22.2 | ||||||||||||||||||||||
PSO | 4.6 | 2.4 | 11.3 | 4.6 | ||||||||||||||||||||||
SWEPCo | 5.2 | 3.2 | 13.9 | 6.0 |
Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||||||||||||
Company | 2023 | 2022 | 2023 | 2022 | ||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||||
APCo | $ | 414.9 | $ | 339.0 | $ | 921.1 | $ | 754.5 | ||||||||||||||||||
I&M | 497.2 | 502.4 | 1,022.6 | 1,015.8 | ||||||||||||||||||||||
OPCo | 783.9 | 693.3 | 1,668.3 | 1,409.9 | ||||||||||||||||||||||
PSO | 460.2 | 428.5 | 876.5 | 791.9 | ||||||||||||||||||||||
SWEPCo | 460.5 | 437.2 | 898.1 | 831.7 |
Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||||||||||||
Company | 2023 | 2022 | 2023 | 2022 | ||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||||
APCo | $ | 451.6 | $ | 360.4 | $ | 1,372.7 | $ | 1,114.9 | ||||||||||||||||||
I&M | 553.3 | 558.5 | 1,575.9 | 1,574.3 | ||||||||||||||||||||||
OPCo | 850.3 | 874.1 | 2,518.6 | 2,284.0 | ||||||||||||||||||||||
PSO | 633.8 | 588.5 | 1,510.3 | 1,380.4 | ||||||||||||||||||||||
SWEPCo | 558.4 | 593.6 | 1,456.5 | 1,425.3 |
American Electric Power Company, Inc. and Subsidiary Companies | American Electric Power Company, Inc. and Subsidiary Companies | American Electric Power Company, Inc. and Subsidiary Companies | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Variable Interest Entities | Variable Interest Entities | Variable Interest Entities | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
June 30, 2023 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
September 30, 2023 | September 30, 2023 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Registrant Subsidiaries | Registrant Subsidiaries | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
SWEPCo Sabine | I&M DCC Fuel | AEP Texas Transition Funding | AEP Texas Restoration Funding | APCo Appalachian Consumer Rate Relief Funding | SWEPCo Sabine | I&M DCC Fuel | AEP Texas Transition Funding | AEP Texas Restoration Funding | APCo Appalachian Consumer Rate Relief Funding | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
(in millions) | (in millions) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
ASSETS | ASSETS | ASSETS | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Current Assets | Current Assets | $ | 5.8 | $ | 72.5 | $ | 26.9 | $ | 25.4 | $ | 13.3 | Current Assets | $ | 4.8 | $ | 59.9 | $ | 49.4 | $ | 20.9 | $ | 4.7 | ||||||||||||||||||||||||||||||||||||||||||
Net Property, Plant and Equipment | Net Property, Plant and Equipment | — | 129.3 | — | — | — | Net Property, Plant and Equipment | — | 104.1 | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Noncurrent Assets | Other Noncurrent Assets | 129.7 | 63.6 | 109.5 | (a) | 157.2 | (b) | 151.8 | (c) | Other Noncurrent Assets | 128.1 | 51.8 | 90.5 | (a) | 151.4 | (b) | 145.3 | (c) | ||||||||||||||||||||||||||||||||||||||||||||||
Total Assets | Total Assets | $ | 135.5 | $ | 265.4 | $ | 136.4 | $ | 182.6 | $ | 165.1 | Total Assets | $ | 132.9 | $ | 215.8 | $ | 139.9 | $ | 172.3 | $ | 150.0 | ||||||||||||||||||||||||||||||||||||||||||
LIABILITIES AND EQUITY | LIABILITIES AND EQUITY | LIABILITIES AND EQUITY | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Current Liabilities | Current Liabilities | $ | 19.8 | $ | 72.4 | $ | 74.5 | $ | 36.7 | $ | 29.6 | Current Liabilities | $ | 21.0 | $ | 59.8 | $ | 75.3 | $ | 36.0 | $ | 28.5 | ||||||||||||||||||||||||||||||||||||||||||
Noncurrent Liabilities | Noncurrent Liabilities | 115.6 | 193.0 | 57.5 | 144.7 | 133.6 | Noncurrent Liabilities | 110.6 | 156.0 | 60.3 | 135.1 | 119.6 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Equity | Equity | 0.1 | — | 4.4 | 1.2 | 1.9 | Equity | 1.3 | — | 4.3 | 1.2 | 1.9 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Liabilities and Equity | Total Liabilities and Equity | $ | 135.5 | $ | 265.4 | $ | 136.4 | $ | 182.6 | $ | 165.1 | Total Liabilities and Equity | $ | 132.9 | $ | 215.8 | $ | 139.9 | $ | 172.3 | $ | 150.0 |
American Electric Power Company, Inc. and Subsidiary Companies | American Electric Power Company, Inc. and Subsidiary Companies | American Electric Power Company, Inc. and Subsidiary Companies | ||||||||||||||||||||||||||||||||
Variable Interest Entities | Variable Interest Entities | Variable Interest Entities | ||||||||||||||||||||||||||||||||
June 30, 2023 | ||||||||||||||||||||||||||||||||||
September 30, 2023 | September 30, 2023 | |||||||||||||||||||||||||||||||||
Other Consolidated VIEs | Other Consolidated VIEs | |||||||||||||||||||||||||||||||||
AEP Credit | Protected Cell of EIS | Transource Energy | AEP Credit | Protected Cell of EIS | Transource Energy | |||||||||||||||||||||||||||||
(in millions) | (in millions) | |||||||||||||||||||||||||||||||||
ASSETS | ASSETS | ASSETS | ||||||||||||||||||||||||||||||||
Current Assets | Current Assets | $ | 1,186.0 | $ | 195.1 | $ | 29.3 | Current Assets | $ | 1,259.0 | $ | 202.9 | $ | 32.8 | ||||||||||||||||||||
Net Property, Plant and Equipment | Net Property, Plant and Equipment | — | — | 496.6 | Net Property, Plant and Equipment | — | — | 499.8 | ||||||||||||||||||||||||||
Other Noncurrent Assets | Other Noncurrent Assets | 9.4 | — | 5.3 | Other Noncurrent Assets | 9.6 | 0.7 | 4.0 | ||||||||||||||||||||||||||
Total Assets | Total Assets | $ | 1,195.4 | $ | 195.1 | $ | 531.2 | Total Assets | $ | 1,268.6 | $ | 203.6 | $ | 536.6 | ||||||||||||||||||||
LIABILITIES AND EQUITY | LIABILITIES AND EQUITY | LIABILITIES AND EQUITY | ||||||||||||||||||||||||||||||||
Current Liabilities | Current Liabilities | $ | 1,132.8 | $ | 39.7 | $ | 21.1 | Current Liabilities | $ | 1,201.3 | $ | 54.1 | $ | 21.3 | ||||||||||||||||||||
Noncurrent Liabilities | Noncurrent Liabilities | 0.9 | 81.9 | 232.0 | Noncurrent Liabilities | 0.9 | 84.7 | 229.4 | ||||||||||||||||||||||||||
Equity | Equity | 61.7 | 73.5 | 278.1 | Equity | 66.4 | 64.8 | 285.9 | ||||||||||||||||||||||||||
Total Liabilities and Equity | Total Liabilities and Equity | $ | 1,195.4 | $ | 195.1 | $ | 531.2 | Total Liabilities and Equity | $ | 1,268.6 | $ | 203.6 | $ | 536.6 |
American Electric Power Company, Inc. and Subsidiary Companies | American Electric Power Company, Inc. and Subsidiary Companies | American Electric Power Company, Inc. and Subsidiary Companies | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Variable Interest Entities | Variable Interest Entities | Variable Interest Entities | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
December 31, 2022 | December 31, 2022 | December 31, 2022 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Registrant Subsidiaries | Registrant Subsidiaries | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
SWEPCo Sabine | I&M DCC Fuel | AEP Texas Transition Funding | AEP Texas Restoration Funding | APCo Appalachian Consumer Rate Relief Funding | SWEPCo Sabine | I&M DCC Fuel | AEP Texas Transition Funding | AEP Texas Restoration Funding | APCo Appalachian Consumer Rate Relief Funding | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
(in millions) | (in millions) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
ASSETS | ASSETS | ASSETS | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Current Assets | Current Assets | $ | 108.3 | $ | 90.2 | $ | 27.0 | $ | 21.1 | $ | 13.5 | Current Assets | $ | 108.3 | $ | 90.2 | $ | 27.0 | $ | 21.1 | $ | 13.5 | ||||||||||||||||||||||||||||||||||||||||||
Net Property, Plant and Equipment | Net Property, Plant and Equipment | 7.2 | 179.1 | — | — | — | Net Property, Plant and Equipment | 7.2 | 179.1 | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Noncurrent Assets | Other Noncurrent Assets | 130.0 | 94.0 | 140.9 | (a) | 168.8 | (b) | 164.6 | (c) | Other Noncurrent Assets | 130.0 | 94.0 | 140.9 | (a) | 168.8 | (b) | 164.6 | (c) | ||||||||||||||||||||||||||||||||||||||||||||||
Total Assets | Total Assets | $ | 245.5 | $ | 363.3 | $ | 167.9 | $ | 189.9 | $ | 178.1 | Total Assets | $ | 245.5 | $ | 363.3 | $ | 167.9 | $ | 189.9 | $ | 178.1 | ||||||||||||||||||||||||||||||||||||||||||
LIABILITIES AND EQUITY | LIABILITIES AND EQUITY | LIABILITIES AND EQUITY | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Current Liabilities | Current Liabilities | $ | 25.4 | $ | 90.0 | $ | 73.2 | $ | 31.3 | $ | 29.3 | Current Liabilities | $ | 25.4 | $ | 90.0 | $ | 73.2 | $ | 31.3 | $ | 29.3 | ||||||||||||||||||||||||||||||||||||||||||
Noncurrent Liabilities | Noncurrent Liabilities | 219.4 | 273.3 | 90.4 | 157.4 | 146.9 | Noncurrent Liabilities | 219.4 | 273.3 | 90.4 | 157.4 | 146.9 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Equity | Equity | 0.7 | — | 4.3 | 1.2 | 1.9 | Equity | 0.7 | — | 4.3 | 1.2 | 1.9 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Liabilities and Equity | Total Liabilities and Equity | $ | 245.5 | $ | 363.3 | $ | 167.9 | $ | 189.9 | $ | 178.1 | Total Liabilities and Equity | $ | 245.5 | $ | 363.3 | $ | 167.9 | $ | 189.9 | $ | 178.1 |
American Electric Power Company, Inc. and Subsidiary Companies | |||||||||||||||||||||||||||||||||||||||||
Variable Interest Entities | |||||||||||||||||||||||||||||||||||||||||
December 31, 2022 | |||||||||||||||||||||||||||||||||||||||||
Other Consolidated VIEs | |||||||||||||||||||||||||||||||||||||||||
AEP Credit | Protected Cell of EIS | Transource Energy | Apple Blossom and Black Oak | Santa Rita East | Dry Lake | ||||||||||||||||||||||||||||||||||||
(in millions) | |||||||||||||||||||||||||||||||||||||||||
ASSETS | |||||||||||||||||||||||||||||||||||||||||
Current Assets | $ | 1,181.0 | $ | 194.5 | $ | 23.5 | $ | 8.3 | $ | 21.3 | $ | 4.0 | |||||||||||||||||||||||||||||
Net Property, Plant and Equipment | — | — | 482.3 | 216.5 | 421.6 | 142.6 | |||||||||||||||||||||||||||||||||||
Other Noncurrent Assets | 9.0 | 0.3 | 2.7 | 13.6 | 0.1 | 0.3 | |||||||||||||||||||||||||||||||||||
Total Assets | $ | 1,190.0 | $ | 194.8 | $ | 508.5 | $ | 238.4 | $ | 443.0 | $ | 146.9 | |||||||||||||||||||||||||||||
LIABILITIES AND EQUITY | |||||||||||||||||||||||||||||||||||||||||
Current Liabilities | $ | 1,087.8 | $ | 46.4 | $ | 22.8 | $ | 4.5 | $ | 9.6 | $ | 1.0 | |||||||||||||||||||||||||||||
Noncurrent Liabilities | 0.9 | 79.1 | 218.6 | 5.4 | 7.3 | 0.7 | |||||||||||||||||||||||||||||||||||
Equity | 101.3 | 69.3 | 267.1 | 228.5 | 426.1 | 145.2 | |||||||||||||||||||||||||||||||||||
Total Liabilities and Equity | $ | 1,190.0 | $ | 194.8 | $ | 508.5 | $ | 238.4 | $ | 443.0 | $ | 146.9 |
Company | ARO as of December 31, 2022 | Accretion Expense | Liabilities Incurred | Liabilities Settled | Revisions in Cash Flow Estimates | ARO as of September 30, 2023 | ||||||||||||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||||||||||||||||
AEP (a)(b)(c)(d)(e)(f) | $ | 2,944.9 | $ | 86.0 | $ | 12.9 | $ | (98.1) | $ | 13.8 | $ | 2,959.5 | ||||||||||||||||||||||||||
SWEPCo (a)(c)(d)(e) | 282.2 | 10.0 | 7.1 | (37.9) | 0.4 | 261.8 |
Three Months Ended June 30, 2023 | Three Months Ended September 30, 2023 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | $ | 962.0 | $ | 574.1 | $ | — | $ | — | $ | — | $ | — | $ | 1,536.1 | Residential Revenues | $ | 1,326.7 | $ | 772.5 | $ | — | $ | — | $ | — | $ | — | $ | 2,099.2 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial Revenues | Commercial Revenues | 642.7 | 358.3 | — | — | — | — | 1,001.0 | Commercial Revenues | 753.3 | 387.7 | — | — | — | — | 1,141.0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial Revenues | Industrial Revenues | 698.9 | 152.1 | — | — | — | (0.1) | 850.9 | Industrial Revenues | 699.9 | 138.9 | — | — | — | (0.3) | 838.5 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Retail Revenues | Other Retail Revenues | 58.9 | 12.3 | — | — | — | — | 71.2 | Other Retail Revenues | 66.6 | 13.0 | — | — | — | — | 79.6 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Retail Revenues | Total Retail Revenues | 2,362.5 | 1,096.8 | — | — | — | (0.1) | 3,459.2 | Total Retail Revenues | 2,846.5 | 1,312.1 | — | — | — | (0.3) | 4,158.3 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Wholesale and Competitive Retail Revenues: | Wholesale and Competitive Retail Revenues: | Wholesale and Competitive Retail Revenues: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Generation Revenues | Generation Revenues | 141.4 | — | — | 19.6 | — | 0.1 | 161.1 | Generation Revenues | 174.3 | — | — | 31.8 | — | (0.3) | 205.8 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Transmission Revenues (a) | Transmission Revenues (a) | 113.5 | 184.1 | 455.8 | — | — | (402.8) | 350.6 | Transmission Revenues (a) | 120.6 | 176.0 | 466.1 | — | — | (425.1) | 337.6 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Renewable Generation Revenues (b) | Renewable Generation Revenues (b) | — | — | — | 33.1 | — | (3.1) | 30.0 | Renewable Generation Revenues (b) | — | — | — | 19.8 | — | (2.5) | 17.3 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Retail, Trading and Marketing Revenues | Retail, Trading and Marketing Revenues | — | — | — | 407.7 | 1.2 | (10.1) | 398.8 | Retail, Trading and Marketing Revenues | — | — | — | 510.8 | 0.8 | (36.7) | 474.9 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Wholesale and Competitive Retail Revenues | Total Wholesale and Competitive Retail Revenues | 254.9 | 184.1 | 455.8 | 460.4 | 1.2 | (415.9) | 940.5 | Total Wholesale and Competitive Retail Revenues | 294.9 | 176.0 | 466.1 | 562.4 | 0.8 | (464.6) | 1,035.6 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Revenues from Contracts with Customers | Other Revenues from Contracts with Customers | 61.9 | 56.1 | 4.3 | 6.2 | 28.6 | (39.9) | 117.2 | Other Revenues from Contracts with Customers | 61.3 | 58.2 | 4.8 | 0.9 | 55.6 | (48.5) | 132.3 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Revenues from Contracts with Customers | Total Revenues from Contracts with Customers | 2,679.3 | 1,337.0 | 460.1 | 466.6 | 29.8 | (455.9) | 4,516.9 | Total Revenues from Contracts with Customers | 3,202.7 | 1,546.3 | 470.9 | 563.3 | 56.4 | (513.4) | 5,326.2 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Revenues: | Other Revenues: | Other Revenues: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Alternative Revenue Programs (b) | Alternative Revenue Programs (b) | (4.9) | (2.9) | (1.5) | — | — | (6.3) | (15.6) | Alternative Revenue Programs (b) | 0.5 | (5.0) | 5.8 | — | — | 5.7 | 7.0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Revenues (b) | Other Revenues (b) | 0.1 | 6.1 | — | (135.2) | 2.2 | (2.0) | (128.8) | Other Revenues (b) | 2.2 | 2.8 | — | 3.4 | 0.8 | (0.7) | 8.5 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Other Revenues | Total Other Revenues | (4.8) | 3.2 | (1.5) | (135.2) | 2.2 | (8.3) | (144.4) | Total Other Revenues | 2.7 | (2.2) | 5.8 | 3.4 | 0.8 | 5.0 | 15.5 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Revenues | Total Revenues | $ | 2,674.5 | $ | 1,340.2 | $ | 458.6 | $ | 331.4 | $ | 32.0 | $ | (464.2) | $ | 4,372.5 | Total Revenues | $ | 3,205.4 | $ | 1,544.1 | $ | 476.7 | $ | 566.7 | $ | 57.2 | $ | (508.4) | $ | 5,341.7 |
Three Months Ended September 30, 2022 | ||||||||||||||||||||||||||||||||||||||||||||
Vertically Integrated Utilities | Transmission and Distribution Utilities | AEP Transmission Holdco | Generation & Marketing | Corporate and Other | Reconciling Adjustments | AEP Consolidated | ||||||||||||||||||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||||||||||||||||||||||
Retail Revenues: | ||||||||||||||||||||||||||||||||||||||||||||
Residential Revenues | $ | 1,298.0 | $ | 721.9 | $ | — | $ | — | $ | — | $ | — | $ | 2,019.9 | ||||||||||||||||||||||||||||||
Commercial Revenues | 725.1 | 373.0 | — | — | — | — | 1,098.1 | |||||||||||||||||||||||||||||||||||||
Industrial Revenues | 658.5 | 191.5 | — | — | — | (0.3) | 849.7 | |||||||||||||||||||||||||||||||||||||
Other Retail Revenues | 54.3 | 15.0 | — | — | — | — | 69.3 | |||||||||||||||||||||||||||||||||||||
Total Retail Revenues | 2,735.9 | 1,301.4 | — | — | — | (0.3) | 4,037.0 | |||||||||||||||||||||||||||||||||||||
Wholesale and Competitive Retail Revenues: | ||||||||||||||||||||||||||||||||||||||||||||
Generation Revenues | 299.3 | — | — | 83.7 | — | (0.2) | 382.8 | |||||||||||||||||||||||||||||||||||||
Transmission Revenues (a) | 120.3 | 162.3 | 424.9 | — | — | (392.7) | 314.8 | |||||||||||||||||||||||||||||||||||||
Renewable Generation Revenues (b) | — | — | — | 44.3 | — | (2.5) | 41.8 | |||||||||||||||||||||||||||||||||||||
Retail, Trading and Marketing Revenues | — | — | — | 482.9 | 2.2 | 0.2 | 485.3 | |||||||||||||||||||||||||||||||||||||
Total Wholesale and Competitive Retail Revenues | 419.6 | 162.3 | 424.9 | 610.9 | 2.2 | (395.2) | 1,224.7 | |||||||||||||||||||||||||||||||||||||
Other Revenues from Contracts with Customers (c) | 69.7 | 74.5 | (0.3) | 1.7 | 24.3 | (31.9) | 138.0 | |||||||||||||||||||||||||||||||||||||
Total Revenues from Contracts with Customers | 3,225.2 | 1,538.2 | 424.6 | 612.6 | 26.5 | (427.4) | 5,399.7 | |||||||||||||||||||||||||||||||||||||
Other Revenues: | ||||||||||||||||||||||||||||||||||||||||||||
Alternative Revenue Programs (b) (d) | 0.9 | (13.5) | 6.3 | — | — | 4.4 | (1.9) | |||||||||||||||||||||||||||||||||||||
Other Revenues (b) (e) | 0.2 | 5.5 | — | 122.8 | 1.8 | (2.0) | 128.3 | |||||||||||||||||||||||||||||||||||||
Total Other Revenues | 1.1 | (8.0) | 6.3 | 122.8 | 1.8 | 2.4 | 126.4 | |||||||||||||||||||||||||||||||||||||
Total Revenues | $ | 3,226.3 | $ | 1,530.2 | $ | 430.9 | $ | 735.4 | $ | 28.3 | $ | (425.0) | $ | 5,526.1 |
Three Months Ended June 30, 2022 | ||||||||||||||||||||||||||||||||||||||||||||
Vertically Integrated Utilities | Transmission and Distribution Utilities | AEP Transmission Holdco | Generation & Marketing | Corporate and Other | Reconciling Adjustments | AEP Consolidated | ||||||||||||||||||||||||||||||||||||||
(in millions) | ||||||||||||||||||||||||||||||||||||||||||||
Retail Revenues: | ||||||||||||||||||||||||||||||||||||||||||||
Residential Revenues | $ | 979.3 | $ | 561.6 | $ | — | $ | — | $ | — | $ | — | $ | 1,540.9 | ||||||||||||||||||||||||||||||
Commercial Revenues | 624.8 | 331.7 | — | — | — | — | 956.5 | |||||||||||||||||||||||||||||||||||||
Industrial Revenues | 641.8 | 162.5 | — | — | — | — | 804.3 | |||||||||||||||||||||||||||||||||||||
Other Retail Revenues | 52.9 | 12.8 | — | — | — | — | 65.7 | |||||||||||||||||||||||||||||||||||||
Total Retail Revenues | 2,298.8 | 1,068.6 | — | — | — | — | 3,367.4 | |||||||||||||||||||||||||||||||||||||
Wholesale and Competitive Retail Revenues: | ||||||||||||||||||||||||||||||||||||||||||||
Generation Revenues | 188.3 | — | — | 83.0 | — | 0.1 | 271.4 | |||||||||||||||||||||||||||||||||||||
Transmission Revenues (a) | 108.8 | 164.9 | 421.6 | — | — | (332.0) | 363.3 | |||||||||||||||||||||||||||||||||||||
Renewable Generation Revenues (b) | — | — | — | 38.2 | — | (2.9) | 35.3 | |||||||||||||||||||||||||||||||||||||
Retail, Trading and Marketing Revenues (b) | — | — | — | 408.3 | 1.3 | (2.3) | 407.3 | |||||||||||||||||||||||||||||||||||||
Total Wholesale and Competitive Retail Revenues | 297.1 | 164.9 | 421.6 | 529.5 | 1.3 | (337.1) | 1,077.3 | |||||||||||||||||||||||||||||||||||||
Other Revenues from Contracts with Customers (c) | 49.2 | 65.9 | 0.2 | 1.6 | 20.9 | (21.1) | 116.7 | |||||||||||||||||||||||||||||||||||||
Total Revenues from Contracts with Customers | 2,645.1 | 1,299.4 | 421.8 | 531.1 | 22.2 | (358.2) | 4,561.4 | |||||||||||||||||||||||||||||||||||||
Other Revenues: | ||||||||||||||||||||||||||||||||||||||||||||
Alternative Revenue Programs (b) (d) | 3.3 | (4.6) | (43.0) | — | — | (13.1) | (57.4) | |||||||||||||||||||||||||||||||||||||
Other Revenues (b) (e) | 0.1 | 6.8 | — | 128.5 | 2.3 | (2.0) | 135.7 | |||||||||||||||||||||||||||||||||||||
Total Other Revenues | 3.4 | 2.2 | (43.0) | 128.5 | 2.3 | (15.1) | 78.3 | |||||||||||||||||||||||||||||||||||||
Total Revenues | $ | 2,648.5 | $ | 1,301.6 | $ | 378.8 | $ | 659.6 | $ | 24.5 | $ | (373.3) | $ | 4,639.7 |
Three Months Ended June 30, 2023 | Three Months Ended September 30, 2023 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | $ | 144.9 | $ | — | $ | 324.8 | $ | 185.2 | $ | 429.3 | $ | 186.5 | $ | 185.1 | Residential Revenues | $ | 236.2 | $ | — | $ | 397.1 | $ | 230.7 | $ | 536.3 | $ | 310.5 | $ | 286.5 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial Revenues | Commercial Revenues | 100.6 | — | 163.6 | 141.4 | 257.8 | 131.7 | 153.8 | Commercial Revenues | 112.4 | — | 181.3 | 159.2 | 275.3 | 171.9 | 174.9 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial Revenues | Industrial Revenues | 35.2 | — | 192.5 | 155.9 | 116.8 | 107.8 | 110.6 | Industrial Revenues | 35.4 | — | 197.1 | 159.1 | 103.6 | 114.1 | 105.5 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Retail Revenues | Other Retail Revenues | 8.7 | — | 25.2 | 1.2 | 3.6 | 28.3 | 2.6 | Other Retail Revenues | 9.2 | — | 26.8 | 1.3 | 3.8 | 33.8 | 2.4 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Retail Revenues | Total Retail Revenues | 289.4 | — | 706.1 | 483.7 | 807.5 | 454.3 | 452.1 | Total Retail Revenues | 393.2 | — | 802.3 | 550.3 | 919.0 | 630.3 | 569.3 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Wholesale Revenues: | Wholesale Revenues: | Wholesale Revenues: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Generation Revenues (a) | Generation Revenues (a) | — | — | 64.2 | 63.5 | — | 4.3 | 43.9 | Generation Revenues (a) | — | — | 79.4 | 90.2 | — | (4.9) | 36.8 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Transmission Revenues (b) | Transmission Revenues (b) | 163.1 | 444.7 | 43.9 | 9.6 | 21.0 | 9.9 | 38.3 | Transmission Revenues (b) | 154.6 | 454.7 | 45.5 | 10.4 | 21.4 | 10.8 | 42.4 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Wholesale Revenues | Total Wholesale Revenues | 163.1 | 444.7 | 108.1 | 73.1 | 21.0 | 14.2 | 82.2 | Total Wholesale Revenues | 154.6 | 454.7 | 124.9 | 100.6 | 21.4 | 5.9 | 79.2 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Revenues from Contracts with Customers (c) | Other Revenues from Contracts with Customers (c) | 10.7 | 4.1 | 11.8 | 45.0 | 45.5 | 7.2 | 7.0 | Other Revenues from Contracts with Customers (c) | 8.8 | 5.0 | 35.2 | 26.2 | 49.2 | 5.4 | 6.0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Revenues from Contracts with Customers | Total Revenues from Contracts with Customers | 463.2 | 448.8 | 826.0 | 601.8 | 874.0 | 475.7 | 541.3 | Total Revenues from Contracts with Customers | 556.6 | 459.7 | 962.4 | 677.1 | 989.6 | 641.6 | 654.5 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Revenues: | Other Revenues: | Other Revenues: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Alternative Revenue Programs (d) (e) | Alternative Revenue Programs (d) (e) | (2.0) | (3.9) | 0.5 | (2.6) | (0.9) | (1.0) | (3.5) | Alternative Revenue Programs (d) (e) | (2.0) | 3.0 | (0.7) | (2.9) | (3.1) | 2.6 | 0.3 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Revenues (e) | Other Revenues (e) | — | — | — | — | 6.0 | — | — | Other Revenues (e) | — | — | 0.1 | 2.1 | 3.0 | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Other Revenues | Total Other Revenues | (2.0) | (3.9) | 0.5 | (2.6) | 5.1 | (1.0) | (3.5) | Total Other Revenues | (2.0) | 3.0 | (0.6) | (0.8) | (0.1) | 2.6 | 0.3 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Revenues | Total Revenues | $ | 461.2 | $ | 444.9 | $ | 826.5 | $ | 599.2 | $ | 879.1 | $ | 474.7 | $ | 537.8 | Total Revenues | $ | 554.6 | $ | 462.7 | $ | 961.8 | $ | 676.3 | $ | 989.5 | $ | 644.2 | $ | 654.8 |
Three Months Ended June 30, 2022 | Three Months Ended September 30, 2022 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | $ | 174.9 | $ | — | $ | 313.2 | $ | 195.2 | $ | 386.7 | $ | 185.2 | $ | 188.6 | Residential Revenues | $ | 204.0 | $ | — | $ | 360.5 | $ | 238.6 | $ | 517.9 | $ | 299.6 | $ | 285.5 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial Revenues | Commercial Revenues | 110.6 | — | 152.6 | 138.6 | 221.1 | 121.2 | 146.0 | Commercial Revenues | 107.1 | — | 161.1 | 154.3 | 266.1 | 153.4 | 182.3 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial Revenues | Industrial Revenues | 36.6 | — | 161.9 | 160.0 | 126.0 | 92.5 | 97.1 | Industrial Revenues | 35.4 | — | 163.3 | 155.6 | 156.1 | 98.9 | 108.3 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Retail Revenues | Other Retail Revenues | 9.5 | — | 20.2 | 1.2 | 3.4 | 25.8 | 4.4 | Other Retail Revenues | 11.5 | — | 20.6 | 1.2 | 3.5 | 30.1 | 0.6 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Retail Revenues | Total Retail Revenues | 331.6 | — | 647.9 | 495.0 | 737.2 | 424.7 | 436.1 | Total Retail Revenues | 358.0 | — | 705.5 | 549.7 | 943.6 | 582.0 | 576.7 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Wholesale Revenues: | Wholesale Revenues: | Wholesale Revenues: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Generation Revenues (a) | Generation Revenues (a) | — | — | 63.5 | 94.2 | — | 0.3 | 57.4 | Generation Revenues (a) | — | — | 107.9 | 126.3 | — | 9.4 | 87.6 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Transmission Revenues (b) | Transmission Revenues (b) | 143.8 | 406.1 | 40.8 | 8.7 | 21.1 | 9.1 | 39.3 | Transmission Revenues (b) | 140.8 | 411.7 | 41.5 | 8.8 | 21.5 | 10.2 | 42.3 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Wholesale Revenues | Total Wholesale Revenues | 143.8 | 406.1 | 104.3 | 102.9 | 21.1 | 9.4 | 96.7 | Total Wholesale Revenues | 140.8 | 411.7 | 149.4 | 135.1 | 21.5 | 19.6 | 129.9 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Revenues from Contracts with Customers (c) | Other Revenues from Contracts with Customers (c) | 5.6 | 0.2 | 20.6 | 25.8 | 60.2 | 9.6 | 6.0 | Other Revenues from Contracts with Customers (c) | 9.5 | (0.3) | 33.7 | 30.6 | 64.8 | 6.4 | 7.6 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Revenues from Contracts with Customers | Total Revenues from Contracts with Customers | 481.0 | 406.3 | 772.8 | 623.7 | 818.5 | 443.7 | 538.8 | Total Revenues from Contracts with Customers | 508.3 | 411.4 | 888.6 | 715.4 | 1,029.9 | 608.0 | 714.2 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Revenues: | Other Revenues: | Other Revenues: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Alternative Revenue Programs (d) (e) | Alternative Revenue Programs (d) (e) | (2.2) | (41.9) | 0.8 | 7.3 | (2.4) | (0.8) | (2.2) | Alternative Revenue Programs (d) (e) | 0.6 | 7.1 | — | — | (14.1) | 0.2 | 3.3 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Revenues (e) | Other Revenues (e) | — | — | — | — | 6.8 | — | — | Other Revenues (e) | — | — | 0.3 | — | 5.5 | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Other Revenues | Total Other Revenues | (2.2) | (41.9) | 0.8 | 7.3 | 4.4 | (0.8) | (2.2) | Total Other Revenues | 0.6 | 7.1 | 0.3 | — | (8.6) | 0.2 | 3.3 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Revenues | Total Revenues | $ | 478.8 | $ | 364.4 | $ | 773.6 | $ | 631.0 | $ | 822.9 | $ | 442.9 | $ | 536.6 | Total Revenues | $ | 508.9 | $ | 418.5 | $ | 888.9 | $ | 715.4 | $ | 1,021.3 | $ | 608.2 | $ | 717.5 |
Six Months Ended June 30, 2023 | Nine Months Ended September 30, 2023 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | $ | 2,132.4 | $ | 1,230.9 | $ | — | $ | — | $ | — | $ | — | $ | 3,363.3 | Residential Revenues | $ | 3,459.1 | $ | 2,003.4 | $ | — | $ | — | $ | — | $ | — | $ | 5,462.5 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial Revenues | Commercial Revenues | 1,276.1 | 734.2 | — | — | — | — | 2,010.3 | Commercial Revenues | 2,029.4 | 1,121.9 | — | — | — | — | 3,151.3 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial Revenues (a) | Industrial Revenues (a) | 1,369.2 | 365.0 | — | — | — | (0.3) | 1,733.9 | Industrial Revenues (a) | 2,069.1 | 503.9 | — | — | — | (0.6) | 2,572.4 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Retail Revenues | Other Retail Revenues | 115.7 | 24.4 | — | — | — | — | 140.1 | Other Retail Revenues | 182.3 | 37.4 | — | — | — | — | 219.7 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Retail Revenues | Total Retail Revenues | 4,893.4 | 2,354.5 | — | — | — | (0.3) | 7,247.6 | Total Retail Revenues | 7,739.9 | 3,666.6 | — | — | — | (0.6) | 11,405.9 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Wholesale and Competitive Retail Revenues: | Wholesale and Competitive Retail Revenues: | Wholesale and Competitive Retail Revenues: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Generation Revenues | Generation Revenues | 324.2 | — | — | 52.0 | — | 0.1 | 376.3 | Generation Revenues | 498.5 | — | — | 83.8 | — | (0.2) | 582.1 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Transmission Revenues (b) | Transmission Revenues (b) | 228.2 | 348.3 | 905.9 | — | — | (804.6) | 677.8 | Transmission Revenues (b) | 348.8 | 524.3 | 1,372.0 | — | — | (1,229.7) | 1,015.4 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Renewable Generation Revenues (a) | Renewable Generation Revenues (a) | — | — | — | 54.4 | — | (3.2) | 51.2 | Renewable Generation Revenues (a) | — | — | — | 74.2 | — | (5.7) | 68.5 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Retail, Trading and Marketing Revenues (c) | Retail, Trading and Marketing Revenues (c) | — | — | — | 821.4 | 0.9 | (10.0) | 812.3 | Retail, Trading and Marketing Revenues (c) | — | — | — | 1,332.2 | 1.7 | (46.7) | 1,287.2 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Wholesale and Competitive Retail Revenues | Total Wholesale and Competitive Retail Revenues | 552.4 | 348.3 | 905.9 | 927.8 | 0.9 | (817.7) | 1,917.6 | Total Wholesale and Competitive Retail Revenues | 847.3 | 524.3 | 1,372.0 | 1,490.2 | 1.7 | (1,282.3) | 2,953.2 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Revenues from Contracts with Customers (d) | Other Revenues from Contracts with Customers (d) | 94.5 | 98.9 | 7.9 | 6.8 | 58.0 | (83.6) | 182.5 | Other Revenues from Contracts with Customers (d) | 155.8 | 157.1 | 12.7 | 7.7 | 113.6 | (132.1) | 314.8 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Revenues from Contracts with Customers | Total Revenues from Contracts with Customers | 5,540.3 | 2,801.7 | 913.8 | 934.6 | 58.9 | (901.6) | 9,347.7 | Total Revenues from Contracts with Customers | 8,743.0 | 4,348.0 | 1,384.7 | 1,497.9 | 115.3 | (1,415.0) | 14,673.9 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Revenues: | Other Revenues: | Other Revenues: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Alternative Revenue Programs (a) (e) | Alternative Revenue Programs (a) (e) | (8.0) | (14.5) | 0.3 | — | — | (3.4) | (25.6) | Alternative Revenue Programs (a) (e) | (7.5) | (19.5) | 6.1 | — | — | 2.3 | (18.6) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Revenues (a) (f) | Other Revenues (a) (f) | — | 17.2 | — | (276.2) | 3.2 | (2.9) | (258.7) | Other Revenues (a) (f) | 2.2 | 20.0 | — | (272.8) | 4.0 | (3.6) | (250.2) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Other Revenues | Total Other Revenues | (8.0) | 2.7 | 0.3 | (276.2) | 3.2 | (6.3) | (284.3) | Total Other Revenues | (5.3) | 0.5 | 6.1 | (272.8) | 4.0 | (1.3) | (268.8) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Revenues | Total Revenues | $ | 5,532.3 | $ | 2,804.4 | $ | 914.1 | $ | 658.4 | $ | 62.1 | $ | (907.9) | $ | 9,063.4 | Total Revenues | $ | 8,737.7 | $ | 4,348.5 | $ | 1,390.8 | $ | 1,225.1 | $ | 119.3 | $ | (1,416.3) | $ | 14,405.1 |
Six Months Ended June 30, 2022 | Nine Months Ended September 30, 2022 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | $ | 2,130.1 | $ | 1,162.2 | $ | — | $ | — | $ | — | $ | — | $ | 3,292.3 | Residential Revenues | $ | 3,428.1 | $ | 1,884.1 | $ | — | $ | — | $ | — | $ | — | $ | 5,312.2 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial Revenues | Commercial Revenues | 1,197.7 | 621.4 | — | — | — | — | 1,819.1 | Commercial Revenues | 1,922.8 | 994.4 | — | — | — | — | 2,917.2 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial Revenues | Industrial Revenues | 1,204.8 | 295.8 | — | — | — | (0.4) | 1,500.2 | Industrial Revenues | 1,863.3 | 487.3 | — | — | — | (0.7) | 2,349.9 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Retail Revenues | Other Retail Revenues | 100.3 | 24.4 | — | — | — | — | 124.7 | Other Retail Revenues | 154.6 | 39.4 | — | — | — | — | 194.0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Retail Revenues | Total Retail Revenues | 4,632.9 | 2,103.8 | — | — | — | (0.4) | 6,736.3 | Total Retail Revenues | 7,368.8 | 3,405.2 | — | — | — | (0.7) | 10,773.3 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Wholesale and Competitive Retail Revenues: | Wholesale and Competitive Retail Revenues: | Wholesale and Competitive Retail Revenues: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Generation Revenues | Generation Revenues | 375.5 | — | — | 123.3 | — | 0.1 | 498.9 | Generation Revenues | 674.8 | — | — | 207.0 | — | (0.1) | 881.7 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Transmission Revenues | Transmission Revenues | 214.1 | 319.8 | 836.1 | — | — | (693.8) | 676.2 | Transmission Revenues | 334.4 | 482.1 | 1,261.0 | — | — | (1,086.5) | 991.0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Renewable Generation Revenues | Renewable Generation Revenues | — | — | — | 60.6 | — | (3.7) | 56.9 | Renewable Generation Revenues | — | — | — | 104.9 | — | (6.2) | 98.7 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Retail, Trading and Marketing Revenues (c) | Retail, Trading and Marketing Revenues (c) | — | — | — | 797.1 | 4.5 | (11.3) | 790.3 | Retail, Trading and Marketing Revenues (c) | — | — | — | 1,280.0 | 6.7 | (11.1) | 1,275.6 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Wholesale and Competitive Retail Revenues | Total Wholesale and Competitive Retail Revenues | 589.6 | 319.8 | 836.1 | 981.0 | 4.5 | (708.7) | 2,022.3 | Total Wholesale and Competitive Retail Revenues | 1,009.2 | 482.1 | 1,261.0 | 1,591.9 | 6.7 | (1,103.9) | 3,247.0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Revenues from Contracts with Customers (d) | Other Revenues from Contracts with Customers (d) | 110.8 | 119.7 | — | 10.2 | 34.8 | (39.7) | 235.8 | Other Revenues from Contracts with Customers (d) | 180.5 | 194.2 | (0.3) | 11.9 | 59.1 | (71.6) | 373.8 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Revenues from Contracts with Customers | Total Revenues from Contracts with Customers | 5,333.3 | 2,543.3 | 836.1 | 991.2 | 39.3 | (748.8) | 8,994.4 | Total Revenues from Contracts with Customers | 8,558.5 | 4,081.5 | 1,260.7 | 1,603.8 | 65.8 | (1,176.2) | 14,394.1 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Revenues: | Other Revenues: | Other Revenues: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Alternative Revenue Programs (b) (e) | 2.5 | (8.0) | (45.9) | — | — | (11.8) | (63.2) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Revenues (b) (f) | 0.1 | 13.1 | — | 287.7 | 5.1 | (4.9) | 301.1 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Alternative Revenue Programs (a) (e) | Alternative Revenue Programs (a) (e) | 3.4 | (21.5) | (39.6) | — | — | (7.4) | (65.1) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Revenues (a) (f) | Other Revenues (a) (f) | 0.3 | 18.6 | — | 410.5 | 6.9 | (6.9) | 429.4 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Other Revenues | Total Other Revenues | 2.6 | 5.1 | (45.9) | 287.7 | 5.1 | (16.7) | 237.9 | Total Other Revenues | 3.7 | (2.9) | (39.6) | 410.5 | 6.9 | (14.3) | 364.3 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Revenues | Total Revenues | $ | 5,335.9 | $ | 2,548.4 | $ | 790.2 | $ | 1,278.9 | $ | 44.4 | $ | (765.5) | $ | 9,232.3 | Total Revenues | $ | 8,562.2 | $ | 4,078.6 | $ | 1,221.1 | $ | 2,014.3 | $ | 72.7 | $ | (1,190.5) | $ | 14,758.4 |
Six Months Ended June 30, 2023 | Nine Months Ended September 30, 2023 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | $ | 275.6 | $ | — | $ | 795.3 | $ | 424.8 | $ | 955.3 | $ | 357.4 | $ | 361.0 | Residential Revenues | $ | 511.8 | $ | — | $ | 1,192.4 | $ | 655.5 | $ | 1,491.6 | $ | 667.9 | $ | 647.5 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial Revenues | Commercial Revenues | 197.9 | — | 334.9 | 280.3 | 536.3 | 240.8 | 297.3 | Commercial Revenues | 310.3 | — | 516.2 | 439.5 | 811.6 | 412.7 | 472.2 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial Revenues (a) | Industrial Revenues (a) | 74.5 | — | 378.3 | 308.5 | 290.4 | 206.1 | 214.8 | Industrial Revenues (a) | 109.9 | — | 575.4 | 467.6 | 394.0 | 320.2 | 320.3 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Retail Revenues | Other Retail Revenues | 17.0 | — | 51.4 | 2.5 | 7.4 | 52.5 | 5.2 | Other Retail Revenues | 26.2 | — | 78.2 | 3.8 | 11.2 | 86.3 | 7.6 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Retail Revenues | Total Retail Revenues | 565.0 | — | 1,559.9 | 1,016.1 | 1,789.4 | 856.8 | 878.3 | Total Retail Revenues | 958.2 | — | 2,362.2 | 1,566.4 | 2,708.4 | 1,487.1 | 1,447.6 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Wholesale Revenues: | Wholesale Revenues: | Wholesale Revenues: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Generation Revenues (b) | Generation Revenues (b) | — | — | 144.4 | 167.5 | — | 5.2 | 83.5 | Generation Revenues (b) | — | — | 223.8 | 257.7 | — | 0.3 | 120.3 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Transmission Revenues (c) | Transmission Revenues (c) | 309.4 | 883.4 | 85.3 | 17.7 | 38.9 | 21.2 | 81.2 | Transmission Revenues (c) | 464.0 | 1,338.1 | 130.8 | 28.1 | 60.3 | 32.0 | 123.6 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Wholesale Revenues | Total Wholesale Revenues | 309.4 | 883.4 | 229.7 | 185.2 | 38.9 | 26.4 | 164.7 | Total Wholesale Revenues | 464.0 | 1,338.1 | 354.6 | 285.8 | 60.3 | 32.3 | 243.9 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Revenues from Contracts with Customers (d) | Other Revenues from Contracts with Customers (d) | 20.4 | 7.8 | 24.8 | 66.4 | 78.7 | 9.5 | 14.9 | Other Revenues from Contracts with Customers (d) | 29.2 | 12.8 | 60.0 | 92.6 | 127.9 | 14.9 | 20.9 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Revenues from Contracts with Customers | Total Revenues from Contracts with Customers | 894.8 | 891.2 | 1,814.4 | 1,267.7 | 1,907.0 | 892.7 | 1,057.9 | Total Revenues from Contracts with Customers | 1,451.4 | 1,350.9 | 2,776.8 | 1,944.8 | 2,896.6 | 1,534.3 | 1,712.4 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Revenues: | Other Revenues: | Other Revenues: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Alternative Revenue Program (a) (e) | Alternative Revenue Program (a) (e) | (4.1) | (4.7) | (0.2) | (5.5) | (10.4) | (1.0) | (4.2) | Alternative Revenue Program (a) (e) | (6.1) | (1.7) | (0.9) | (8.4) | (13.5) | 1.6 | (3.9) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Revenues (a) | Other Revenues (a) | — | — | — | — | 17.1 | — | — | Other Revenues (a) | — | — | 0.1 | 2.1 | 20.1 | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Other Revenues | Total Other Revenues | (4.1) | (4.7) | (0.2) | (5.5) | 6.7 | (1.0) | (4.2) | Total Other Revenues | (6.1) | (1.7) | (0.8) | (6.3) | 6.6 | 1.6 | (3.9) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Revenues | Total Revenues | $ | 890.7 | $ | 886.5 | $ | 1,814.2 | $ | 1,262.2 | $ | 1,913.7 | $ | 891.7 | $ | 1,053.7 | Total Revenues | $ | 1,445.3 | $ | 1,349.2 | $ | 2,776.0 | $ | 1,938.5 | $ | 2,903.2 | $ | 1,535.9 | $ | 1,708.5 |
Six Months Ended June 30, 2022 | Nine Months Ended September 30, 2022 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | $ | 316.8 | $ | — | $ | 771.2 | $ | 427.0 | $ | 845.4 | $ | 351.1 | $ | 364.5 | Residential Revenues | $ | 520.8 | $ | — | $ | 1,131.7 | $ | 665.6 | $ | 1,363.3 | $ | 650.7 | $ | 650.0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial Revenues | Commercial Revenues | 205.5 | — | 306.5 | 265.2 | 415.8 | 218.7 | 276.5 | Commercial Revenues | 312.6 | — | 467.6 | 419.5 | 681.9 | 372.1 | 458.8 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industrial Revenues | Industrial Revenues | 67.2 | — | 315.7 | 296.5 | 228.7 | 171.1 | 181.8 | Industrial Revenues | 102.6 | — | 479.0 | 452.1 | 384.8 | 270.0 | 290.1 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Retail Revenues | Other Retail Revenues | 17.7 | — | 40.8 | 2.5 | 6.7 | 47.0 | 6.8 | Other Retail Revenues | 29.2 | — | 61.4 | 3.7 | 10.2 | 77.1 | 7.4 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Retail Revenues | Total Retail Revenues | 607.2 | — | 1,434.2 | 991.2 | 1,496.6 | 787.9 | 829.6 | Total Retail Revenues | 965.2 | — | 2,139.7 | 1,540.9 | 2,440.2 | 1,369.9 | 1,406.3 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Wholesale Revenues: | Wholesale Revenues: | Wholesale Revenues: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Generation Revenues | Generation Revenues | — | — | 119.7 | 184.6 | — | 9.8 | 118.6 | Generation Revenues | — | — | 227.6 | 310.9 | — | 19.2 | 206.2 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Transmission Revenues | Transmission Revenues | 276.9 | 806.4 | 81.9 | 17.5 | 42.9 | 18.7 | 74.5 | Transmission Revenues | 417.7 | 1,218.1 | 123.4 | 26.3 | 64.4 | 28.9 | 116.8 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Wholesale Revenues | Total Wholesale Revenues | 276.9 | 806.4 | 201.6 | 202.1 | 42.9 | 28.5 | 193.1 | Total Wholesale Revenues | 417.7 | 1,218.1 | 351.0 | 337.2 | 64.4 | 48.1 | 323.0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Revenues from Contracts with Customers | Other Revenues from Contracts with Customers | 14.9 | (0.1) | 44.9 | 55.7 | 104.8 | 15.0 | 11.3 | Other Revenues from Contracts with Customers | 24.4 | (0.4) | 78.6 | 86.3 | 169.6 | 21.4 | 18.9 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Revenues from Contracts with Customers | Total Revenues from Contracts with Customers | 899.0 | 806.3 | 1,680.7 | 1,249.0 | 1,644.3 | 831.4 | 1,034.0 | Total Revenues from Contracts with Customers | 1,407.3 | 1,217.7 | 2,569.3 | 1,964.4 | 2,674.2 | 1,439.4 | 1,748.2 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Revenues: | Other Revenues: | Other Revenues: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Alternative Revenue Program (d) (e) | (3.5) | (41.5) | 0.1 | 7.3 | (4.5) | (0.9) | (2.6) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Alternative Revenue Program (a) (e) | Alternative Revenue Program (a) (e) | (2.9) | (34.4) | 0.1 | 7.3 | (18.6) | (0.7) | 0.7 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Revenues | Other Revenues | — | — | 0.1 | (0.1) | 13.1 | — | — | Other Revenues | — | — | 0.4 | (0.1) | 18.6 | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Other Revenues | Total Other Revenues | (3.5) | (41.5) | 0.2 | 7.2 | 8.6 | (0.9) | (2.6) | Total Other Revenues | (2.9) | (34.4) | 0.5 | 7.2 | — | (0.7) | 0.7 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total Revenues | Total Revenues | $ | 895.5 | $ | 764.8 | $ | 1,680.9 | $ | 1,256.2 | $ | 1,652.9 | $ | 830.5 | $ | 1,031.4 | Total Revenues | $ | 1,404.4 | $ | 1,183.3 | $ | 2,569.8 | $ | 1,971.6 | $ | 2,674.2 | $ | 1,438.7 | $ | 1,748.9 |
Company | Company | 2023 | 2024-2025 | 2026-2027 | After 2027 | Total | Company | 2023 | 2024-2025 | 2026-2027 | After 2027 | Total | ||||||||||||||||||||||||||||||||||||||||||||||||||||
(in millions) | (in millions) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
AEP | AEP | $ | 43.6 | $ | 161.4 | $ | 137.1 | $ | 60.9 | $ | 403.0 | AEP | $ | 22.6 | $ | 166.2 | $ | 141.2 | $ | 35.0 | $ | 365.0 | ||||||||||||||||||||||||||||||||||||||||||
APCo | APCo | 8.1 | 32.2 | 25.4 | 11.6 | 77.3 | APCo | 4.0 | 32.2 | 26.6 | 11.6 | 74.4 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
I&M | I&M | 2.2 | 8.8 | 8.8 | 4.5 | 24.3 | I&M | 1.1 | 8.8 | 8.8 | 4.5 | 23.2 |
Company | Company | June 30, 2023 | December 31, 2022 | Company | September 30, 2023 | December 31, 2022 | ||||||||||||||||||||||
(in millions) | (in millions) | |||||||||||||||||||||||||||
AEP Texas | AEP Texas | $ | — | $ | 0.1 | AEP Texas | $ | 0.1 | $ | 0.1 | ||||||||||||||||||
AEPTCo | AEPTCo | 123.1 | 113.8 | AEPTCo | 122.5 | 113.8 | ||||||||||||||||||||||
APCo | APCo | 68.1 | 64.5 | APCo | 69.3 | 64.5 | ||||||||||||||||||||||
I&M | I&M | 47.3 | 75.3 | I&M | 50.1 | 75.3 | ||||||||||||||||||||||
OPCo | OPCo | 68.6 | 49.9 | OPCo | 67.3 | 49.9 | ||||||||||||||||||||||
PSO | PSO | 30.6 | 18.8 | PSO | 13.8 | 18.8 | ||||||||||||||||||||||
SWEPCo | SWEPCo | 42.4 | 19.1 | SWEPCo | 23.7 | 19.1 |
Exhibit | Description | Previously Filed as Exhibit to: | ||||||||||||
Exhibit | Description | AEP | AEP Texas | AEPTCo | APCo | I&M | OPCo | PSO | SWEPCo | |||||||||||||||||||||||||||||||||||||||||||||||
10 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | |||||||||||||||||||||||||||||||||||||||||||||||
101.CAL | XBRL Taxonomy Extension Calculation Linkbase | X | X | X | X | X | X | X | X |
Texas | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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. |