| Commission | Registrants; | I.R.S. Employer | ||||||||||||||||||||||||||||||
| File Number | Address and Telephone Number | States of Incorporation | Identification Nos. | |||||||||||||||||||||||||||||
| 1-3525 | AMERICAN ELECTRIC POWER CO INC. | New York | 13-4922640 | |||||||||||||||||||||||||||||
| 333-221643 | AEP TEXAS INC. | Delaware | 51-0007707 | |||||||||||||||||||||||||||||
| 333-217143 | AEP TRANSMISSION COMPANY, LLC | Delaware | 46-1125168 | |||||||||||||||||||||||||||||
| 1-3457 | APPALACHIAN POWER COMPANY | Virginia | 54-0124790 | |||||||||||||||||||||||||||||
| 1-3570 | INDIANA MICHIGAN POWER COMPANY | Indiana | 35-0410455 | |||||||||||||||||||||||||||||
| 1-6543 | OHIO POWER COMPANY | Ohio | 31-4271000 | |||||||||||||||||||||||||||||
| 0-343 | PUBLIC SERVICE COMPANY OF OKLAHOMA | Oklahoma | 73-0410895 | |||||||||||||||||||||||||||||
| 1-3146 | SOUTHWESTERN ELECTRIC POWER COMPANY | Delaware | 72-0323455 | |||||||||||||||||||||||||||||
| 1 Riverside Plaza, | Columbus, | Ohio | 43215-2373 | |||||||||||||||||||||||||||||
| Telephone | (614) | 716-1000 | ||||||||||||||||||||||||||||||
| Registrant | Title of each class | Trading Symbol | Name of Each Exchange on Which Registered | |||||||||||||||||
| American Electric Power Company Inc. | Common Stock, $6.50 par value | AEP | The NASDAQ Stock Market LLC | |||||||||||||||||
| American Electric Power Company Inc. | 6.125% Corporate Units | AEPPL | The NASDAQ Stock Market LLC | |||||||||||||||||
| American Electric Power Company Inc. | 6.125% Corporate Units | AEPPZ | The NASDAQ Stock Market LLC | |||||||||||||||||
| Indicate by check mark whether the registrants (1) have filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrants were required to file such reports), and (2) have been subject to such filing requirements for the past 90 days. | |||||||||||||||||
| Yes | x | No | ☐ | ||||||||||||||
| Indicate by check mark whether the registrants have submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrants were required to submit such files). | |||||||||||||||||
| Yes | x | No | ☐ | ||||||||||||||
| Indicate by check mark whether American Electric Power Company, Inc. is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act. | |||||||||||||||||||||||
| Large Accelerated filer | x | Accelerated filer | ☐ | Non-accelerated filer | ☐ | ||||||||||||||||||
| Smaller reporting company | ☐ | Emerging growth company | ☐ | ||||||||||||||||||||
| Indicate by check mark whether AEP Texas Inc., AEP Transmission Company, LLC, Appalachian Power Company, Indiana Michigan Power Company, Ohio Power Company, Public Service Company of Oklahoma and Southwestern Electric Power Company are large accelerated filers, accelerated filers, non-accelerated filers, smaller reporting companies, or emerging growth companies. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act. | |||||||||||||||||||||||
| Large Accelerated filer | ☐ | Accelerated filer | ☐ | Non-accelerated filer | x | ||||||||||||||||||
| Smaller reporting company | ☐ | Emerging growth company | ☐ | ||||||||||||||||||||
| If an emerging growth company, indicate by check mark if the registrants have elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. | |||||||||||||||||
| ☐ | |||||||||||||||||
| Indicate by check mark whether the registrants are shell companies (as defined in Rule 12b-2 of the Exchange Act). | Yes | ☐ | No | x | ||||||||||||||||
|
Number of shares
of common stock outstanding of the Registrants as of |
|||||
| July 22, 2021 | |||||
| American Electric Power Company, Inc. | 500,251,339 | ||||
| ($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 | ||||||||||||||
| June 30, 2021 | ||||||||||||||
| Page | ||||||||||||||
| Number | ||||||||||||||
| Glossary of Terms | ||||||||||||||
| Forward-Looking Information | ||||||||||||||
| Part I. FINANCIAL INFORMATION | ||||||||||||||
|
Items 1, 2, 3 and 4 - Financial Statements, Management’s Discussion and Analysis of Financial Condition and Results of Operations, Quantitative and Qualitative Disclosures About Market Risk, and Controls and Procedures:
|
||||||||||||||
| American Electric Power Company, Inc. and Subsidiary Companies: | ||||||||||||||
| Management’s Discussion and Analysis of Financial Condition and Results of Operations | ||||||||||||||
| Condensed Consolidated Financial Statements | ||||||||||||||
| AEP Texas Inc. and Subsidiaries: | ||||||||||||||
| Management’s Narrative Discussion and Analysis of Results of Operations | ||||||||||||||
| Condensed Consolidated Financial Statements | ||||||||||||||
| AEP Transmission Company, LLC and Subsidiaries: | ||||||||||||||
| Management’s Narrative Discussion and Analysis of Results of Operations | ||||||||||||||
| Condensed Consolidated Financial Statements | ||||||||||||||
| Appalachian Power Company and Subsidiaries: | ||||||||||||||
| Management’s Narrative Discussion and Analysis of Results of Operations | ||||||||||||||
| Condensed Consolidated Financial Statements | ||||||||||||||
| Indiana Michigan Power Company and Subsidiaries: | ||||||||||||||
| Management’s Narrative Discussion and Analysis of Results of Operations | ||||||||||||||
| Condensed Consolidated Financial Statements | ||||||||||||||
| Ohio Power Company and Subsidiaries: | ||||||||||||||
| Management’s Narrative Discussion and Analysis of Results of Operations | ||||||||||||||
| Condensed Consolidated Financial Statements | ||||||||||||||
| Public Service Company of Oklahoma: | ||||||||||||||
| Management’s Narrative Discussion and Analysis of Results of Operations | ||||||||||||||
| Condensed Financial Statements | ||||||||||||||
| Southwestern Electric Power Company Consolidated: | ||||||||||||||
| Management’s Narrative Discussion and Analysis of Results of Operations | ||||||||||||||
| Condensed Consolidated Financial Statements | ||||||||||||||
| Index of Condensed Notes to Condensed Financial Statements of Registrants | ||||||||||||||
| Controls and Procedures | ||||||||||||||
| Part II. OTHER INFORMATION | ||||||||||||||
| Item 1. | Legal Proceedings | |||||||||||||
| Item 1A. | Risk Factors | |||||||||||||
| Item 2. | Unregistered Sales of Equity Securities and Use of Proceeds | |||||||||||||
| Item 3. | Defaults Upon Senior Securities | |||||||||||||
| Item 4. | Mine Safety Disclosures | |||||||||||||
| Item 5. | Other Information | |||||||||||||
| Item 6. | Exhibits | |||||||||||||
| SIGNATURE | ||||||||||||||
| This combined Form 10-Q is separately filed by American Electric Power Company, Inc., AEP Texas Inc., AEP Transmission Company, LLC, Appalachian Power Company, Indiana Michigan Power Company, Ohio Power Company, Public Service Company of Oklahoma and Southwestern Electric Power Company. Information contained herein relating to any individual registrant is filed by such registrant on its own behalf. Each registrant makes no representation as to information relating to the other registrants. | ||||||||||||||
|
Term
|
Meaning
|
|||||||
|
|
|
|
||||||
|
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 X, DCC Fuel XI, DCC Fuel XII, DCC Fuel XIII, DCC Fuel XIV, DCC Fuel XV and DCC Fuel XVI, 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. | |||||||
|
EIS
|
Energy Insurance Services, Inc., a nonaffiliated captive insurance company and consolidated VIE of AEP.
|
|||||||
| ELG | Effluent Limitation Guidelines. | |||||||
|
Energy Supply
|
AEP Energy Supply LLC, a nonregulated holding company for AEP’s competitive generation, wholesale and retail businesses, and a wholly-owned subsidiary of AEP.
|
|||||||
|
Equity Units
|
AEP’s Equity Units issued in August 2020 and March 2019.
|
|||||||
|
ERCOT
|
|
Electric Reliability Council of Texas regional transmission organization.
|
||||||
|
ESP
|
|
Electric Security Plans, a PUCO requirement for electric utilities to adjust their rates by filing with the PUCO.
|
||||||
|
ETT
|
Electric Transmission Texas, LLC, an equity interest joint venture between AEP Transmission Holdco and Berkshire Hathaway Energy Company formed to own and operate electric transmission facilities in ERCOT.
|
|||||||
|
Excess ADIT
|
Excess accumulated deferred income taxes.
|
|||||||
| FAC | Fuel Adjustment Clause | |||||||
|
FASB
|
|
Financial Accounting Standards Board.
|
||||||
|
Federal EPA
|
United States Environmental Protection Agency.
|
|||||||
|
FERC
|
|
Federal Energy Regulatory Commission.
|
||||||
|
FGD
|
|
Flue Gas Desulfurization or scrubbers.
|
||||||
|
FIP
|
Federal Implementation Plan.
|
|||||||
|
FTR
|
|
Financial Transmission Right, a financial instrument that entitles the holder to receive compensation for certain congestion-related transmission charges that arise when the power grid is congested resulting in differences in locational prices.
|
||||||
|
GAAP
|
|
Accounting Principles Generally Accepted in the United States of America.
|
||||||
|
I&M
|
|
Indiana Michigan Power Company, an AEP electric utility subsidiary.
|
||||||
|
IRS
|
|
Internal Revenue Service.
|
||||||
|
IURC
|
Indiana Utility Regulatory Commission.
|
|||||||
|
KGPCo
|
Kingsport Power Company, an AEP electric utility subsidiary. | |||||||
|
KPCo
|
|
Kentucky Power Company, an AEP electric utility subsidiary. | ||||||
| KPSC | Kentucky Public Service Commission. | |||||||
|
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. | ||||||
|
Term
|
Meaning
|
|||||||
|
|
|
|
||||||
|
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. | ||||||
|
North Central Wind Energy Facilities
|
A joint PSO and SWEPCo project, which includes three Oklahoma wind facilities totaling approximately 1,485 MWs of wind generation.
|
|||||||
|
NOx
|
Nitrogen oxide.
|
|||||||
|
NSR
|
|
New Source Review.
|
||||||
|
OCC
|
|
Corporation Commission of the State of Oklahoma.
|
||||||
|
Oklaunion Power Station
|
A retired, single unit coal-fired generation plant totaling 650 MW located in Vernon, Texas. The plant was jointly-owned by AEP Texas, PSO and certain nonaffiliated entities.
|
|||||||
|
OPCo
|
|
Ohio Power Company, an AEP electric utility subsidiary.
|
||||||
|
OPEB
|
|
Other Postretirement Benefits.
|
||||||
|
OTC
|
|
Over-the-counter.
|
||||||
|
OVEC
|
|
Ohio Valley Electric Corporation, which is 43.47% owned by AEP.
|
||||||
|
Parent
|
American Electric Power Company, Inc., the equity owner of AEP subsidiaries within the AEP consolidation.
|
|||||||
|
PATH-WV
|
PATH West Virginia Transmission Company, LLC, a joint venture owned 50% by FirstEnergy and 50% by AEP.
|
|||||||
|
PJM
|
|
Pennsylvania – New Jersey – Maryland regional transmission organization.
|
||||||
|
PM
|
|
Particulate Matter.
|
||||||
|
PPA
|
Purchase Power and Sale Agreement.
|
|||||||
|
PSO
|
|
Public Service Company of Oklahoma, an AEP electric utility subsidiary.
|
||||||
|
PTC
|
Production Tax Credits.
|
|||||||
|
PUCO
|
|
Public Utilities Commission of Ohio.
|
||||||
|
PUCT
|
|
Public Utility Commission of Texas.
|
||||||
|
Racine
|
A generation plant consisting of two hydroelectric generating units totaling 48 MWs located in Racine, Ohio and owned by AGR.
|
|||||||
|
Registrant Subsidiaries
|
|
AEP subsidiaries which are SEC registrants: AEP Texas, AEPTCo, APCo, I&M, OPCo, PSO and SWEPCo.
|
||||||
|
Registrants
|
SEC registrants: AEP, AEP Texas, AEPTCo, APCo, I&M, OPCo, PSO and SWEPCo.
|
|||||||
|
Restoration Funding
|
AEP Texas Restoration Funding LLC, a wholly-owned subsidiary of AEP Texas and a consolidated VIE formed for the purpose of issuing and servicing securitization bonds related to storm restoration in Texas primarily caused by Hurricane Harvey.
|
|||||||
|
Risk Management Contracts
|
|
Trading and non-trading derivatives, including those derivatives designated as cash flow and fair value hedges.
|
||||||
|
Rockport Plant
|
A generation plant, consisting of two 1,310 MW coal-fired generating units near Rockport, Indiana. AEGCo and I&M jointly-own Unit 1. In 1989, AEGCo and I&M entered into a sale-and-leaseback transaction with Wilmington Trust Company, an unrelated, unconsolidated trustee for Rockport Plant, Unit 2.
|
|||||||
|
Term
|
Meaning
|
|||||||
|
|
|
|
||||||
|
ROE
|
Return on Equity.
|
|||||||
|
RPM
|
Reliability Pricing Model.
|
|||||||
|
RTO
|
|
Regional Transmission Organization, responsible for moving electricity over large interstate areas.
|
||||||
|
Sabine
|
|
Sabine Mining Company, a lignite mining company that is a consolidated VIE for AEP and SWEPCo.
|
||||||
| SEC | U.S. Securities and Exchange Commission. | |||||||
|
Sempra Renewables LLC
|
Sempra Renewables LLC, acquired in April 2019, consists of 724 MWs of wind generation and battery assets in the United States.
|
|||||||
|
SIP
|
State Implementation Plan.
|
|||||||
|
SNF
|
|
Spent Nuclear Fuel.
|
||||||
|
SO2
|
|
Sulfur dioxide.
|
||||||
|
SPP
|
|
Southwest Power Pool regional transmission organization.
|
||||||
|
State Transcos
|
AEPTCo’s seven wholly-owned, FERC regulated, transmission only electric utilities, which are geographically aligned with AEP’s existing utility operating companies.
|
|||||||
| Sundance |
Sundance, acquired in April 2021 as part of the North Central Wind Energy Facilities, consists of 199 MWs of wind generation in Oklahoma.
|
|||||||
|
SWEPCo
|
|
Southwestern Electric Power Company, an AEP electric utility subsidiary.
|
||||||
|
Tax Reform
|
On December 22, 2017, President Trump signed into law legislation referred to as the “Tax Cuts and Jobs Act” (the TCJA). The TCJA includes significant changes to the Internal Revenue Code of 1986, including a reduction in the corporate federal income tax rate from 35% to 21% effective January 1, 2018.
|
|||||||
|
Transition Funding
|
|
AEP Texas Central Transition Funding II LLC and AEP Texas Central Transition Funding III LLC, wholly-owned subsidiaries of TCC and consolidated VIE formed for the purpose of issuing and servicing securitization bonds related to Texas Restructuring Legislation. In July 2020, the final AEP Texas Central Transition Funding II securitization bond matured.
|
||||||
|
Transource Energy
|
Transource Energy, LLC, a consolidated VIE formed for the purpose of investing in utilities which develop, acquire, construct, own and operate transmission facilities in accordance with FERC-approved rates.
|
|||||||
| Traverse |
Traverse, part of the North Central Wind Energy Facilities, consists of 999 MWs of wind generation in Oklahoma.
|
|||||||
|
Turk Plant
|
|
John W. Turk, Jr. Plant, a 650 MW coal-fired plant in Arkansas that is 73% owned by SWEPCo.
|
||||||
|
Utility Money Pool
|
|
Centralized funding mechanism AEP uses to meet the short-term cash requirements of certain utility subsidiaries.
|
||||||
|
VIE
|
Variable Interest Entity.
|
|||||||
|
Virginia SCC
|
|
Virginia State Corporation Commission. | ||||||
|
WPCo
|
|
Wheeling Power Company, an AEP electric utility subsidiary. | ||||||
|
WVPSC
|
Public Service Commission of West Virginia.
|
|||||||
| • | Changes in economic conditions, electric market demand and demographic patterns in AEP service territories. | ||||
| • | The impact of pandemics, including COVID-19, and any associated disruption of AEP’s business operations due to impacts on economic or market conditions, electricity usage, employees, customers, service providers, vendors and suppliers. | ||||
| • | Inflationary or deflationary interest rate trends. | ||||
| • | Volatility in the financial markets, particularly developments affecting the availability or cost of capital to finance new capital projects and refinance existing debt. | ||||
| • | The availability and cost of funds to finance working capital and capital needs, particularly during periods when the time lag between incurring costs and recovery is long and the costs are material. | ||||
| • | Decreased demand for electricity. | ||||
| • | Weather conditions, including storms and drought conditions, and the ability to recover significant storm restoration costs. | ||||
| • | The cost of fuel and its transportation, the creditworthiness and performance of fuel suppliers and transporters and the cost of storing and disposing of used fuel, including coal ash and SNF. | ||||
| • | The availability of fuel and necessary generation capacity and the performance of generation plants. | ||||
| • | The ability to recover fuel and other energy costs through regulated or competitive electric rates. | ||||
| • | The ability to build or acquire renewable generation, transmission lines and facilities (including the ability to obtain any necessary regulatory approvals and permits) when needed at acceptable prices and terms, including favorable tax treatment, and to recover those costs. | ||||
| • | New legislation, litigation and government regulation, including changes to tax laws and regulations, oversight of nuclear generation, energy commodity trading and new or heightened requirements for reduced emissions of sulfur, nitrogen, mercury, carbon, soot or PM and other substances that could impact the continued operation, cost recovery and/or profitability of generation plants and related assets. | ||||
| • | Evolving public perception of the risks associated with fuels used before, during and after the generation of electricity, including coal ash and nuclear fuel. | ||||
| • | Timing and resolution of pending and future rate cases, negotiations and other regulatory decisions, including rate or other recovery of new investments in generation, distribution and transmission service and environmental compliance. | ||||
| • | Resolution of litigation. | ||||
| • | The ability to constrain operation and maintenance costs. | ||||
| • | Prices and demand for power generated and sold at wholesale. | ||||
| • | Changes in technology, particularly with respect to energy storage and new, developing, alternative or distributed sources of generation. | ||||
| • | The ability to recover through rates any remaining unrecovered investment in generation units that may be retired before the end of their previously projected useful lives. | ||||
| • | Volatility and changes in markets for coal and other energy-related commodities, particularly changes in the price of natural gas. | ||||
| • | Changes in utility regulation and the allocation of costs within RTOs including ERCOT, PJM and SPP. | ||||
| • | Changes in the creditworthiness of the counterparties with contractual arrangements, including participants in the energy trading market. | ||||
| • | Actions of rating agencies, including changes in the ratings of debt. | ||||
| • | The impact of volatility in the capital markets on the value of the investments held by the pension, OPEB, captive insurance entity and nuclear decommissioning trust and the impact of such volatility on future funding requirements. | ||||
| • | Accounting standards periodically issued by accounting standard-setting bodies. | ||||
| • | Other risks and unforeseen events, including wars, the effects of terrorism (including increased security costs), embargoes, naturally occurring and human-caused fires, cyber- security threats and other catastrophic events. | ||||
| • | The ability to attract and retain the requisite work force and key personnel. | ||||
| Approved Revenue | Approved | New Rates | |||||||||||||||||||||||||||
| Company | Jurisdiction | Requirement Increase | ROE | Effective | |||||||||||||||||||||||||
| (in millions) | |||||||||||||||||||||||||||||
| KPCo | Kentucky | $ | 52.7 | (a) | 9.3% | January 2021 | |||||||||||||||||||||||
| Commission Staff/ | ||||||||||||||||||||||||||||||||||||||
| Filing | Requested Revenue | Requested | Intervenor Range of | |||||||||||||||||||||||||||||||||||
| Company | Jurisdiction | Date | Requirement Increase | ROE | Recommended ROE | |||||||||||||||||||||||||||||||||
| (in millions) | ||||||||||||||||||||||||||||||||||||||
| OPCo | Ohio | June 2020 | $ | 42.3 | 10.15% | 8.76%-9.78% | (a) | |||||||||||||||||||||||||||||||
| SWEPCo | Texas | October 2020 | 105.0 | (b) | 10.35% | 9%-9.22% | (c) | |||||||||||||||||||||||||||||||
| SWEPCo | Louisiana | December 2020 | 114.0 | 10.35% | 9.1%-9.8% | (d) | ||||||||||||||||||||||||||||||||
| PSO | Oklahoma | April 2021 | 172.4 | 10% | (e) | |||||||||||||||||||||||||||||||||
| I&M | Indiana | July 2021 | 104.0 | (f) | 10% | (g) | ||||||||||||||||||||||||||||||||
| Company | Plant Name and Unit |
Generating
Capacity |
Net Book Value (a) |
Projected
Retirement Date |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| (in MWs) | (in millions) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| AEGCo | Rockport Plant, Unit 1 | 655 | $ | 237.1 | 2028 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| APCo | Amos | 2,930 | 2,128.5 | 2040 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| APCo | Mountaineer | 1,320 | 966.4 | 2040 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| I&M | Rockport Plant, Unit 1 | 655 | 541.6 | (b) | 2028 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| KPCo | Mitchell Plant | 780 | 591.9 | 2040 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| SWEPCo | Flint Creek Plant | 258 | 271.9 | 2038 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| WPCo | Mitchell Plant | 780 | 594.4 | 2040 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Company | Plant Name and Unit |
Generating
Capacity |
Net Investment (a) | Accelerated Depreciation Regulatory Asset |
Projected
Retirement Date |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| (in MWs) | (in millions) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| SWEPCo | Pirkey Power Plant | 580 | $ | 157.1 | $ | 49.4 | 2023 (b) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| SWEPCo | Welsh Plants, Units 1 and 3 | 1,053 | 511.2 | 24.9 | 2028 (c)(d) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Company | Plant |
Net
Investment (a) |
Accelerated Depreciation Regulatory Asset |
Actual/Projected
Retirement Date |
Current Authorized
Recovery Period |
Annual Depreciation (b) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| (in millions) | (in millions) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| PSO | Northeastern Plant, Unit 3 | $ | 183.2 | $ | 119.2 | 2026 | (c) | $ | 14.9 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| PSO | Oklaunion Power Station | — | 33.5 | 2020 | (d) | 1.9 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| SWEPCo | Dolet Hills Power Station | 27.3 | 114.3 | 2021 | (e) | 7.8 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| SWEPCo | Pirkey Power Plant | 138.5 | 49.4 | 2023 | (f) | 13.6 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| SWEPCo | Welsh Plant, Units 1 and 3 | 500.6 | 24.9 | 2028 (g) | (h) | 33.2 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| SWEPCo | Welsh Plant, Unit 2 | — | 35.2 | 2016 | (i) | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Three Months Ended | Six Months Ended | ||||||||||||||||||||||
| June 30, | June 30, | ||||||||||||||||||||||
| 2021 | 2020 | 2021 | 2020 | ||||||||||||||||||||
| (in millions) | |||||||||||||||||||||||
| Vertically Integrated Utilities | $ | 228.2 | $ | 255.9 | $ | 498.6 | $ | 501.2 | |||||||||||||||
| Transmission and Distribution Utilities | 153.7 | 139.5 | 268.1 | 255.7 | |||||||||||||||||||
| AEP Transmission Holdco | 168.7 | 91.5 | 340.7 | 232.1 | |||||||||||||||||||
| Generation & Marketing | 52.4 | 65.9 | 89.0 | 94.3 | |||||||||||||||||||
| Corporate and Other | (24.8) | (32.0) | (43.2) | (67.3) | |||||||||||||||||||
|
Earnings Attributable to AEP Common Shareholders
|
$ | 578.2 | $ | 520.8 | $ | 1,153.2 | $ | 1,016.0 | |||||||||||||||
| Three Months Ended | Six Months Ended | |||||||||||||||||||||||||
| June 30, | June 30, | |||||||||||||||||||||||||
| Vertically Integrated Utilities | 2021 | 2020 | 2021 | 2020 | ||||||||||||||||||||||
| (in millions) | ||||||||||||||||||||||||||
| Revenues | $ | 2,260.6 | $ | 2,092.0 | $ | 4,797.9 | $ | 4,318.7 | ||||||||||||||||||
| Fuel and Purchased Electricity | 650.4 | 582.1 | 1,509.4 | 1,253.3 | ||||||||||||||||||||||
| Gross Margin | 1,610.2 | 1,509.9 | 3,288.5 | 3,065.4 | ||||||||||||||||||||||
| Other Operation and Maintenance | 703.5 | 624.6 | 1,443.7 | 1,315.9 | ||||||||||||||||||||||
| Depreciation and Amortization | 433.8 | 393.3 | 865.9 | 775.0 | ||||||||||||||||||||||
| Taxes Other Than Income Taxes | 128.0 | 117.5 | 251.5 | 234.6 | ||||||||||||||||||||||
| Operating Income | 344.9 | 374.5 | 727.4 | 739.9 | ||||||||||||||||||||||
| Other Income | 5.1 | 1.4 | 5.8 | 3.0 | ||||||||||||||||||||||
|
Allowance for Equity Funds Used During Construction
|
10.8 | 9.0 | 20.7 | 17.2 | ||||||||||||||||||||||
| Non-Service Cost Components of Net Periodic Benefit Cost | 17.0 | 17.1 | 34.0 | 34.0 | ||||||||||||||||||||||
| Interest Expense | (141.6) | (141.8) | (281.2) | (286.3) | ||||||||||||||||||||||
| Income Before Income Tax Expense and Equity Earnings | 236.2 | 260.2 | 506.7 | 507.8 | ||||||||||||||||||||||
| Income Tax Expense | 8.2 | 4.6 | 8.0 | 6.7 | ||||||||||||||||||||||
| Equity Earnings of Unconsolidated Subsidiary | 0.8 | 0.7 | 1.5 | 1.5 | ||||||||||||||||||||||
| Net Income | 228.8 | 256.3 | 500.2 | 502.6 | ||||||||||||||||||||||
| Net Income Attributable to Noncontrolling Interests | 0.6 | 0.4 | 1.6 | 1.4 | ||||||||||||||||||||||
| Earnings Attributable to AEP Common Shareholders | $ | 228.2 | $ | 255.9 | $ | 498.6 | $ | 501.2 | ||||||||||||||||||
| Three Months Ended | Six Months Ended | |||||||||||||||||||||||||
| June 30, | June 30, | |||||||||||||||||||||||||
| 2021 | 2020 | 2021 | 2020 | |||||||||||||||||||||||
| (in millions of KWhs) | ||||||||||||||||||||||||||
| Retail: | ||||||||||||||||||||||||||
| Residential | 6,525 | 6,976 | 16,006 | 15,238 | ||||||||||||||||||||||
| Commercial | 5,670 | 5,150 | 10,928 | 10,516 | ||||||||||||||||||||||
| Industrial | 8,611 | 7,699 | 16,313 | 16,174 | ||||||||||||||||||||||
| Miscellaneous | 549 | 511 | 1,068 | 1,041 | ||||||||||||||||||||||
| Total Retail | 21,355 | 20,336 | 44,315 | 42,969 | ||||||||||||||||||||||
| Wholesale (a) | 4,487 | 4,924 | 9,129 | 8,542 | ||||||||||||||||||||||
| Total KWhs | 25,842 | 25,260 | 53,444 | 51,511 | ||||||||||||||||||||||
| Three Months Ended | Six Months Ended | |||||||||||||||||||||||||
| June 30, | June 30, | |||||||||||||||||||||||||
| 2021 | 2020 | 2021 | 2020 | |||||||||||||||||||||||
| (in degree days) | ||||||||||||||||||||||||||
| Eastern Region | ||||||||||||||||||||||||||
|
Actual – Heating (a)
|
170 | 212 | 1,709 | 1,453 | ||||||||||||||||||||||
|
Normal – Heating (b)
|
138 | 137 | 1,738 | 1,748 | ||||||||||||||||||||||
|
Actual – Cooling (c)
|
359 | 324 | 362 | 337 | ||||||||||||||||||||||
|
Normal – Cooling (b)
|
339 | 337 | 343 | 342 | ||||||||||||||||||||||
| Western Region | ||||||||||||||||||||||||||
|
Actual – Heating (a)
|
35 | 49 | 993 | 698 | ||||||||||||||||||||||
|
Normal – Heating (b)
|
34 | 34 | 900 | 901 | ||||||||||||||||||||||
|
Actual – Cooling (c)
|
652 | 673 | 678 | 724 | ||||||||||||||||||||||
|
Normal – Cooling (b)
|
699 | 700 | 727 | 728 | ||||||||||||||||||||||
| Reconciliation of Second Quarter of 2020 to Second Quarter of 2021 | ||||||||
| Earnings Attributable to AEP Common Shareholders from Vertically Integrated Utilities | ||||||||
| (in millions) | ||||||||
| Second Quarter of 2020 | $ | 255.9 | ||||||
| Changes in Gross Margin: | ||||||||
| Retail Margins | 96.4 | |||||||
| Margins from Off-system Sales | 5.6 | |||||||
| Transmission Revenues | 0.9 | |||||||
| Other Revenues | (2.6) | |||||||
| Total Change in Gross Margin | 100.3 | |||||||
| Changes in Expenses and Other: | ||||||||
| Other Operation and Maintenance | (78.9) | |||||||
| Depreciation and Amortization | (40.5) | |||||||
| Taxes Other Than Income Taxes | (10.5) | |||||||
| Other Income | 3.7 | |||||||
| Allowance for Equity Funds Used During Construction | 1.8 | |||||||
| Non-Service Cost Components of Net Periodic Pension Cost | (0.1) | |||||||
| Interest Expense | 0.2 | |||||||
| Total Change in Expenses and Other | (124.3) | |||||||
| Income Tax Expense | (3.6) | |||||||
| Equity Earnings of Unconsolidated Subsidiary | 0.1 | |||||||
| Net Income Attributable to Noncontrolling Interests | (0.2) | |||||||
| Second Quarter of 2021 | $ | 228.2 | ||||||
| Reconciliation of Six Months Ended June 30, 2020 to Six Months Ended June 30, 2021 | ||||||||
| Earnings Attributable to AEP Common Shareholders from Vertically Integrated Utilities | ||||||||
| (in millions) | ||||||||
| Six Months Ended June 30, 2020 | $ | 501.2 | ||||||
| Changes in Gross Margin: | ||||||||
| Retail Margins | 194.5 | |||||||
| Margins from Off-system Sales | 23.8 | |||||||
| Transmission Revenues | 11.2 | |||||||
| Other Revenues | (6.4) | |||||||
| Total Change in Gross Margin | 223.1 | |||||||
| Changes in Expenses and Other: | ||||||||
| Other Operation and Maintenance | (127.8) | |||||||
| Depreciation and Amortization | (90.9) | |||||||
| Taxes Other Than Income Taxes | (16.9) | |||||||
| Other Income | 2.8 | |||||||
| Allowance for Equity Funds Used During Construction | 3.5 | |||||||
| Interest Expense | 5.1 | |||||||
| Total Change in Expenses and Other | (224.2) | |||||||
| Income Tax Expense | (1.3) | |||||||
| Net Income Attributable to Noncontrolling Interests | (0.2) | |||||||
| Six Months Ended June 30, 2021 | $ | 498.6 | ||||||
| Three Months Ended | Six Months Ended | |||||||||||||||||||||||||
| June 30, | June 30, | |||||||||||||||||||||||||
| Transmission and Distribution Utilities | 2021 | 2020 | 2021 | 2020 | ||||||||||||||||||||||
| (in millions) | ||||||||||||||||||||||||||
| Revenues | $ | 1,103.4 | $ | 1,034.5 | $ | 2,191.5 | $ | 2,141.4 | ||||||||||||||||||
| Purchased Electricity | 168.0 | 147.5 | 373.5 | 338.9 | ||||||||||||||||||||||
| Gross Margin | 935.4 | 887.0 | 1,818.0 | 1,802.5 | ||||||||||||||||||||||
| Other Operation and Maintenance | 360.8 | 351.9 | 726.0 | 719.1 | ||||||||||||||||||||||
| Depreciation and Amortization | 178.5 | 207.0 | 351.2 | 421.5 | ||||||||||||||||||||||
| Taxes Other Than Income Taxes | 158.4 | 141.8 | 316.0 | 288.0 | ||||||||||||||||||||||
| Operating Income | 237.7 | 186.3 | 424.8 | 373.9 | ||||||||||||||||||||||
| Interest and Investment Income | 0.3 | 0.4 | 0.7 | 1.1 | ||||||||||||||||||||||
| Carrying Costs Income | 0.5 | 0.6 | 1.0 | 1.0 | ||||||||||||||||||||||
|
Allowance for Equity Funds Used During Construction
|
6.2 | 7.7 | 13.0 | 14.7 | ||||||||||||||||||||||
| Non-Service Cost Components of Net Periodic Benefit Cost | 7.2 | 7.4 | 14.5 | 14.7 | ||||||||||||||||||||||
| Interest Expense | (77.0) | (72.2) | (151.5) | (143.6) | ||||||||||||||||||||||
| Income Before Income Tax Expense (Benefit) | 174.9 | 130.2 | 302.5 | 261.8 | ||||||||||||||||||||||
| Income Tax Expense (Benefit) | 21.2 | (9.3) | 34.4 | 6.1 | ||||||||||||||||||||||
| Net Income | 153.7 | 139.5 | 268.1 | 255.7 | ||||||||||||||||||||||
| Net Income Attributable to Noncontrolling Interests | — | — | — | — | ||||||||||||||||||||||
|
Earnings Attributable to AEP Common Shareholders
|
$ | 153.7 | $ | 139.5 | $ | 268.1 | $ | 255.7 | ||||||||||||||||||
| Three Months Ended | Six Months Ended | |||||||||||||||||||||||||
| June 30, | June 30, | |||||||||||||||||||||||||
| 2021 | 2020 | 2021 | 2020 | |||||||||||||||||||||||
| (in millions of KWhs) | ||||||||||||||||||||||||||
| Retail: | ||||||||||||||||||||||||||
| Residential | 6,065 | 6,299 | 12,989 | 12,599 | ||||||||||||||||||||||
| Commercial | 6,488 | 5,559 | 12,064 | 11,432 | ||||||||||||||||||||||
| Industrial | 6,338 | 5,148 | 11,619 | 11,056 | ||||||||||||||||||||||
| Miscellaneous | 185 | 180 | 351 | 362 | ||||||||||||||||||||||
| Total Retail (a) | 19,076 | 17,186 | 37,023 | 35,449 | ||||||||||||||||||||||
| Wholesale (b) | 445 | 455 | 1,048 | 845 | ||||||||||||||||||||||
| Total KWhs | 19,521 | 17,641 | 38,071 | 36,294 | ||||||||||||||||||||||
| Three Months Ended | Six Months Ended | |||||||||||||||||||||||||
| June 30, | June 30, | |||||||||||||||||||||||||
| 2021 | 2020 | 2021 | 2020 | |||||||||||||||||||||||
| (in degree days) | ||||||||||||||||||||||||||
| Eastern Region | ||||||||||||||||||||||||||
|
Actual – Heating (a)
|
215 | 292 | 1,992 | 1,765 | ||||||||||||||||||||||
|
Normal – Heating (b)
|
183 | 182 | 2,066 | 2,080 | ||||||||||||||||||||||
|
Actual – Cooling (c)
|
361 | 314 | 361 | 317 | ||||||||||||||||||||||
|
Normal – Cooling (b)
|
304 | 301 | 307 | 304 | ||||||||||||||||||||||
| Western Region | ||||||||||||||||||||||||||
|
Actual – Heating (a)
|
4 | 6 | 319 | 97 | ||||||||||||||||||||||
|
Normal – Heating (b)
|
3 | 3 | 188 | 188 | ||||||||||||||||||||||
|
Actual – Cooling (d)
|
833 | 936 | 970 | 1,167 | ||||||||||||||||||||||
|
Normal – Cooling (b)
|
931 | 933 | 1,057 | 1,058 | ||||||||||||||||||||||
| Reconciliation of Second Quarter of 2020 to Second Quarter of 2021 | ||||||||
| Earnings Attributable to AEP Common Shareholders from Transmission and Distribution Utilities | ||||||||
| (in millions) | ||||||||
| Second Quarter of 2020 | $ | 139.5 | ||||||
| Changes in Gross Margin: | ||||||||
| Retail Margins | 76.5 | |||||||
| Margins from Off-system Sales | (18.7) | |||||||
| Transmission Revenues | 30.0 | |||||||
| Other Revenues | (39.4) | |||||||
| Total Change in Gross Margin | 48.4 | |||||||
| Changes in Expenses and Other: | ||||||||
| Other Operation and Maintenance | (8.9) | |||||||
| Depreciation and Amortization | 28.5 | |||||||
| Taxes Other Than Income Taxes | (16.6) | |||||||
| Interest and Investment Income | (0.1) | |||||||
| Carrying Costs Income | (0.1) | |||||||
| Allowance for Equity Funds Used During Construction | (1.5) | |||||||
| Non-Service Cost Components of Net Periodic Benefit Cost | (0.2) | |||||||
| Interest Expense | (4.8) | |||||||
| Total Change in Expenses and Other | (3.7) | |||||||
| Income Tax Expense | (30.5) | |||||||
| Second Quarter of 2021 | $ | 153.7 | ||||||
| Reconciliation of Six Months Ended June 30, 2020 to Six Months Ended June 30, 2021 | ||||||||
| Earnings Attributable to AEP Common Shareholders from Transmission and Distribution Utilities | ||||||||
| (in millions) | ||||||||
| Six Months Ended June 30, 2020 | $ | 255.7 | ||||||
| Changes in Gross Margin: | ||||||||
| Retail Margins | 101.2 | |||||||
| Margins from Off-system Sales | (56.1) | |||||||
| Transmission Revenues | 42.5 | |||||||
| Other Revenues | (72.1) | |||||||
| Total Change in Gross Margin | 15.5 | |||||||
| Changes in Expenses and Other: | ||||||||
| Other Operation and Maintenance | (6.9) | |||||||
| Depreciation and Amortization | 70.3 | |||||||
| Taxes Other Than Income Taxes | (28.0) | |||||||
| Interest and Investment Income | (0.4) | |||||||
| Allowance for Equity Funds Used During Construction | (1.7) | |||||||
| Non-Service Cost Components of Net Periodic Benefit Cost | (0.2) | |||||||
| Interest Expense | (7.9) | |||||||
| Total Change in Expenses and Other | 25.2 | |||||||
| Income Tax Expense | (28.3) | |||||||
| Six Months Ended June 30, 2021 | $ | 268.1 | ||||||
| Three Months Ended | Six Months Ended | |||||||||||||||||||||||||
| June 30, | June 30, | |||||||||||||||||||||||||
| AEP Transmission Holdco | 2021 | 2020 | 2021 | 2020 | ||||||||||||||||||||||
| (in millions) | ||||||||||||||||||||||||||
| Transmission Revenues | $ | 378.2 | $ | 249.7 | $ | 755.2 | $ | 559.9 | ||||||||||||||||||
| Other Operation and Maintenance | 29.4 | 25.9 | 56.6 | 55.8 | ||||||||||||||||||||||
| Depreciation and Amortization | 74.7 | 61.1 | 147.4 | 119.2 | ||||||||||||||||||||||
| Taxes Other Than Income Taxes | 61.5 | 51.8 | 120.7 | 103.7 | ||||||||||||||||||||||
| Operating Income | 212.6 | 110.9 | 430.5 | 281.2 | ||||||||||||||||||||||
|
Interest and Investment Income
|
0.2 | 1.5 | 0.4 | 2.4 | ||||||||||||||||||||||
|
Allowance for Equity Funds Used During Construction
|
16.5 | 18.4 | 33.2 | 34.6 | ||||||||||||||||||||||
| Non-Service Cost Components of Net Periodic Benefit Cost | 0.6 | 0.5 | 1.1 | 1.0 | ||||||||||||||||||||||
| Interest Expense | (35.5) | (34.2) | (70.8) | (65.0) | ||||||||||||||||||||||
| Income Before Income Tax Expense and Equity Earnings | 194.4 | 97.1 | 394.4 | 254.2 | ||||||||||||||||||||||
| Income Tax Expense | 43.4 | 24.7 | 89.2 | 63.1 | ||||||||||||||||||||||
| Equity Earnings of Unconsolidated Subsidiary | 18.6 | 19.8 | 37.6 | 42.7 | ||||||||||||||||||||||
| Net Income | 169.6 | 92.2 | 342.8 | 233.8 | ||||||||||||||||||||||
| Net Income Attributable to Noncontrolling Interests | 0.9 | 0.7 | 2.1 | 1.7 | ||||||||||||||||||||||
| Earnings Attributable to AEP Common Shareholders | $ | 168.7 | $ | 91.5 | $ | 340.7 | $ | 232.1 | ||||||||||||||||||
|
June 30,
|
||||||||||||||
| 2021 | 2020 | |||||||||||||
| (in millions) | ||||||||||||||
| Plant in Service | $ | 11,065.2 | $ | 9,333.7 | ||||||||||
| Construction Work in Progress | 1,486.3 | 1,660.5 | ||||||||||||
| Accumulated Depreciation and Amortization | 703.1 | 508.2 | ||||||||||||
| Total Transmission Property, Net | $ | 11,848.4 | $ | 10,486.0 | ||||||||||
| Second Quarter of 2020 | $ | 91.5 | ||||||
| Changes in Transmission Revenues: | ||||||||
| Transmission Revenues | 128.5 | |||||||
| Total Change in Transmission Revenues | 128.5 | |||||||
| Changes in Expenses and Other: | ||||||||
| Other Operation and Maintenance | (3.5) | |||||||
| Depreciation and Amortization | (13.6) | |||||||
| Taxes Other Than Income Taxes | (9.7) | |||||||
| Interest Income | (1.3) | |||||||
| Allowance for Equity Funds Used During Construction | (1.9) | |||||||
| Non-Service Cost Components of Net Periodic Pension Cost | 0.1 | |||||||
| Interest Expense | (1.3) | |||||||
| Total Change in Expenses and Other | (31.2) | |||||||
| Income Tax Expense | (18.7) | |||||||
| Equity Earnings of Unconsolidated Subsidiary | (1.2) | |||||||
| Net Income Attributable to Noncontrolling Interests | (0.2) | |||||||
| Second Quarter of 2021 | $ | 168.7 | ||||||
| Six Months Ended June 30, 2020 | $ | 232.1 | ||||||
| Changes in Transmission Revenues: | ||||||||
| Transmission Revenues | 195.3 | |||||||
| Total Change in Transmission Revenues | 195.3 | |||||||
| Changes in Expenses and Other: | ||||||||
| Other Operation and Maintenance | (0.8) | |||||||
| Depreciation and Amortization | (28.2) | |||||||
| Taxes Other Than Income Taxes | (17.0) | |||||||
| Interest Income | (2.0) | |||||||
| Allowance for Equity Funds Used During Construction | (1.4) | |||||||
| Non-Service Cost Components of Net Periodic Pension Cost | 0.1 | |||||||
| Interest Expense | (5.8) | |||||||
| Total Change in Expenses and Other | (55.1) | |||||||
| Income Tax Expense | (26.1) | |||||||
| Equity Earnings of Unconsolidated Subsidiary | (5.1) | |||||||
| Net Income Attributable to Noncontrolling Interests | (0.4) | |||||||
| Six Months Ended June 30, 2021 | $ | 340.7 | ||||||
| Three Months Ended | Six Months Ended | |||||||||||||||||||||||||
| June 30, | June 30, | |||||||||||||||||||||||||
| Generation & Marketing | 2021 | 2020 | 2021 | 2020 | ||||||||||||||||||||||
| (in millions) | ||||||||||||||||||||||||||
| Revenues | $ | 436.6 | $ | 376.9 | $ | 1,070.8 | $ | 815.5 | ||||||||||||||||||
| Fuel, Purchased Electricity and Other | 358.1 | 298.5 | 924.0 | 658.8 | ||||||||||||||||||||||
| Gross Margin | 78.5 | 78.4 | 146.8 | 156.7 | ||||||||||||||||||||||
| Other Operation and Maintenance | 32.4 | 16.5 | 60.6 | 57.9 | ||||||||||||||||||||||
| Depreciation and Amortization | 20.0 | 17.9 | 38.6 | 35.6 | ||||||||||||||||||||||
| Taxes Other Than Income Taxes | 2.9 | 3.7 | 5.5 | 7.1 | ||||||||||||||||||||||
| Operating Income | 23.2 | 40.3 | 42.1 | 56.1 | ||||||||||||||||||||||
| Interest and Investment Income | 0.6 | 1.2 | 1.1 | 2.2 | ||||||||||||||||||||||
| Non-Service Cost Components of Net Periodic Benefit Cost | 3.9 | 3.8 | 7.7 | 7.7 | ||||||||||||||||||||||
| Interest Expense | (3.8) | (8.2) | (7.1) | (16.7) | ||||||||||||||||||||||
| Income Before Income Tax Benefit and Equity Earnings (Loss) | 23.9 | 37.1 | 43.8 | 49.3 | ||||||||||||||||||||||
| Income Tax Benefit | (24.2) | (21.0) | (39.3) | (33.4) | ||||||||||||||||||||||
| Equity Earnings (Loss) of Unconsolidated Subsidiaries | (1.6) | 0.4 | 1.6 | 6.3 | ||||||||||||||||||||||
| Net Income | 46.5 | 58.5 | 84.7 | 89.0 | ||||||||||||||||||||||
| Net Loss Attributable to Noncontrolling Interests | (5.9) | (7.4) | (4.3) | (5.3) | ||||||||||||||||||||||
|
Earnings Attributable to AEP Common Shareholders
|
$ | 52.4 | $ | 65.9 | $ | 89.0 | $ | 94.3 | ||||||||||||||||||
| Three Months Ended | Six Months Ended | |||||||||||||||||||||||||
| June 30, | June 30, | |||||||||||||||||||||||||
| 2021 | 2020 | 2021 | 2020 | |||||||||||||||||||||||
| (in millions of MWhs) | ||||||||||||||||||||||||||
| Fuel Type: | ||||||||||||||||||||||||||
| Coal | 1 | 1 | 2 | 2 | ||||||||||||||||||||||
| Renewables | 1 | 1 | 2 | 2 | ||||||||||||||||||||||
| Total MWhs | 2 | 2 | 4 | 4 | ||||||||||||||||||||||
| Reconciliation of Second Quarter of 2020 to Second Quarter of 2021 | ||||||||
| Earnings Attributable to AEP Common Shareholders from Generation & Marketing | ||||||||
| (in millions) | ||||||||
| Second Quarter of 2020 | $ | 65.9 | ||||||
| Changes in Gross Margin: | ||||||||
| Merchant Generation | 5.1 | |||||||
| Renewable Generation | 3.1 | |||||||
| Retail, Trading and Marketing | (8.1) | |||||||
| Total Change in Gross Margin | 0.1 | |||||||
| Changes in Expenses and Other: | ||||||||
| Other Operation and Maintenance | (15.9) | |||||||
| Depreciation and Amortization | (2.1) | |||||||
| Taxes Other Than Income Taxes | 0.8 | |||||||
| Interest and Investment Income | (0.6) | |||||||
| Non-Service Cost Components of Net Periodic Benefit Cost | 0.1 | |||||||
| Interest Expense | 4.4 | |||||||
| Total Change in Expenses and Other | (13.3) | |||||||
| Income Tax Benefit | 3.2 | |||||||
| Equity Earnings of Unconsolidated Subsidiaries | (2.0) | |||||||
| Net Loss Attributable to Noncontrolling Interests | (1.5) | |||||||
| Second Quarter of 2021 | $ | 52.4 | ||||||
| Reconciliation of Six Months Ended June 30, 2020 to Six Months Ended June 30, 2021 | ||||||||
| Earnings Attributable to AEP Common Shareholders from Generation & Marketing | ||||||||
| (in millions) | ||||||||
| Six Months Ended June 30, 2020 | $ | 94.3 | ||||||
| Changes in Gross Margin: | ||||||||
| Merchant Generation | 9.1 | |||||||
| Renewable Generation | 8.4 | |||||||
| Retail, Trading and Marketing | (27.4) | |||||||
| Total Change in Gross Margin | (9.9) | |||||||
| Changes in Expenses and Other: | ||||||||
| Other Operation and Maintenance | (2.7) | |||||||
| Depreciation and Amortization | (3.0) | |||||||
| Taxes Other Than Income Taxes | 1.6 | |||||||
| Interest and Investment Income | (1.1) | |||||||
| Interest Expense | 9.6 | |||||||
| Total Change in Expenses and Other | 4.4 | |||||||
| Income Tax Benefit | 5.9 | |||||||
| Equity Earnings of Unconsolidated Subsidiaries | (4.7) | |||||||
| Net Loss Attributable to Noncontrolling Interests | (1.0) | |||||||
| Six Months Ended June 30, 2021 | $ | 89.0 | ||||||
| June 30, 2021 | December 31, 2020 | ||||||||||||||||||||||
| (dollars in millions) | |||||||||||||||||||||||
| Long-term Debt, including amounts due within one year | $ | 33,117.8 | 57.2 | % | $ | 31,072.5 | 57.2 | % | |||||||||||||||
| Short-term Debt | 3,128.0 | 5.4 | 2,479.3 | 4.6 | |||||||||||||||||||
| Total Debt | 36,245.8 | 62.6 | 33,551.8 | 61.8 | |||||||||||||||||||
| AEP Common Equity | 21,378.7 | 37.0 | 20,550.9 | 37.8 | |||||||||||||||||||
| Noncontrolling Interests | 251.2 | 0.4 | 223.6 | 0.4 | |||||||||||||||||||
| Total Debt and Equity Capitalization | $ | 57,875.7 | 100.0 | % | $ | 54,326.3 | 100.0 | % | |||||||||||||||
| Amount | Maturity | |||||||||||||
| Commercial Paper Backup: | (in millions) | |||||||||||||
| Revolving Credit Facility | $ | 4,000.0 | March 2026 | |||||||||||
| Revolving Credit Facility | 1,000.0 | March 2023 | ||||||||||||
| 364-Day Term Loan | 500.0 | March 2022 | ||||||||||||
| Cash and Cash Equivalents | 312.7 | |||||||||||||
| Total Liquidity Sources | 5,812.7 | |||||||||||||
| Less: | AEP Commercial Paper Outstanding | 2,049.8 | ||||||||||||
| 364-Day Term Loan | 500.0 | |||||||||||||
| Net Available Liquidity | $ | 3,262.9 | ||||||||||||
|
Six Months Ended
June 30, |
|||||||||||
| 2021 | 2020 | ||||||||||
| (in millions) | |||||||||||
| Cash, Cash Equivalents and Restricted Cash at Beginning of Period | $ | 438.3 | $ | 432.6 | |||||||
| Net Cash Flows from Operating Activities | 1,043.9 | 1,746.2 | |||||||||
| Net Cash Flows Used for Investing Activities | (3,229.8) | (3,247.6) | |||||||||
| Net Cash Flows from Financing Activities | 2,107.3 | 1,573.5 | |||||||||
| Net Increase (Decrease) in Cash and Cash Equivalents | (78.6) | 72.1 | |||||||||
| Cash, Cash Equivalents and Restricted Cash at End of Period | $ | 359.7 | $ | 504.7 | |||||||
|
Six Months Ended
June 30, |
|||||||||||
| 2021 | 2020 | ||||||||||
| (in millions) | |||||||||||
| Net Income | $ | 1,152.6 | $ | 1,013.8 | |||||||
| Non-Cash Adjustments to Net Income (a) | 1,530.6 | 1,459.1 | |||||||||
| Mark-to-Market of Risk Management Contracts | 26.1 | 13.7 | |||||||||
| Property Taxes | 167.3 | 173.6 | |||||||||
| Deferred Fuel Over/Under-Recovery, Net | (1,218.2) | 76.0 | |||||||||
| Change in Other Noncurrent Assets | (291.9) | (143.9) | |||||||||
| Change in Other Noncurrent Liabilities | 163.5 | (50.0) | |||||||||
| Change in Certain Components of Working Capital | (486.1) | (796.1) | |||||||||
| Net Cash Flows from Operating Activities | $ | 1,043.9 | $ | 1,746.2 | |||||||
|
Six Months Ended
June 30, |
|||||||||||
| 2021 | 2020 | ||||||||||
| (in millions) | |||||||||||
| Construction Expenditures | $ | (2,784.8) | $ | (3,244.9) | |||||||
| Acquisitions of Nuclear Fuel | (63.0) | (37.7) | |||||||||
| Acquisition of the North Central Wind Energy Facilities | (270.0) | — | |||||||||
| Acquisition of the Dry Lake Solar Project | (114.3) | — | |||||||||
| Other | 2.3 | 35.0 | |||||||||
| Net Cash Flows Used for Investing Activities | $ | (3,229.8) | $ | (3,247.6) | |||||||
|
Six Months Ended
June 30, |
|||||||||||
| 2021 | 2020 | ||||||||||
| (in millions) | |||||||||||
| Issuance of Common Stock | $ | 256.9 | $ | 111.0 | |||||||
| Issuance/Retirement of Debt, Net | 2,705.7 | 2,236.4 | |||||||||
| Dividends Paid on Common Stock | (746.5) | (704.6) | |||||||||
| Other | (108.8) | (69.3) | |||||||||
| Net Cash Flows from Financing Activities | $ | 2,107.3 | $ | 1,573.5 | |||||||
| MTM Risk Management Contract Net Assets (Liabilities) | |||||||||||||||||||||||
| Six Months Ended June 30, 2021 | |||||||||||||||||||||||
|
Vertically
Integrated Utilities |
Transmission
and Distribution Utilities |
Generation
& Marketing |
Total | ||||||||||||||||||||
| (in millions) | |||||||||||||||||||||||
| Total MTM Risk Management Contract Net Assets (Liabilities) as of December 31, 2020 | $ | 41.2 | $ | (109.5) | $ | 168.1 | $ | 99.8 | |||||||||||||||
|
Gain from Contracts Realized/Settled During the Period and Entered in a Prior Period
|
(20.7) | (4.6) | (6.8) | (32.1) | |||||||||||||||||||
|
Fair Value of New Contracts at Inception When Entered During the Period (a)
|
— | — | 0.4 | 0.4 | |||||||||||||||||||
| Changes in Fair Value Due to Market Fluctuations During the Period (b) | — | — | 30.0 | 30.0 | |||||||||||||||||||
| Changes in Fair Value Allocated to Regulated Jurisdictions (c) | 61.7 | 10.6 | — | 72.3 | |||||||||||||||||||
| Total MTM Risk Management Contract Net Assets (Liabilities) as of June 30, 2021 | $ | 82.2 | $ | (103.5) | $ | 191.7 | 170.4 | ||||||||||||||||
|
Commodity Cash Flow Hedge Contracts
|
139.7 | ||||||||||||||||||||||
|
Fair Value Hedge Contracts
|
(25.2) | ||||||||||||||||||||||
|
Collateral Deposits
|
(93.0) | ||||||||||||||||||||||
|
Total MTM Derivative Contract Net Assets as of June 30, 2021
|
$ | 191.9 | |||||||||||||||||||||
| 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) | ||||||||||||||||||||||||||||||||
| Investment Grade | $ | 397.5 | $ | 0.1 | $ | 397.4 | 2 | $ | 156.5 | |||||||||||||||||||||||
| Split Rating | 0.2 | — | 0.2 | 1 | 0.2 | |||||||||||||||||||||||||||
| No External Ratings: | ||||||||||||||||||||||||||||||||
| Internal Investment Grade | 98.4 | — | 98.4 | 3 | 72.9 | |||||||||||||||||||||||||||
| Internal Noninvestment Grade | 17.0 | 1.4 | 15.6 | 2 | 9.4 | |||||||||||||||||||||||||||
| Total as of June 30, 2021 | $ | 513.1 | $ | 1.5 | $ | 511.6 | ||||||||||||||||||||||||||
| Six Months Ended | Twelve Months Ended | |||||||||||||||||||||||||||||||||||||||||||
| June 30, 2021 | December 31, 2020 | |||||||||||||||||||||||||||||||||||||||||||
| End | High | Average | Low | End | High | Average | Low | |||||||||||||||||||||||||||||||||||||
| (in millions) | (in millions) | |||||||||||||||||||||||||||||||||||||||||||
| $ | 0.2 | $ | 3.6 | $ | 0.2 | $ | 0.1 | $ | 0.1 | $ | 0.3 | $ | 0.1 | $ | — | |||||||||||||||||||||||||||||
| Six Months Ended | Twelve Months Ended | |||||||||||||||||||||||||||||||||||||||||||
| June 30, 2021 | December 31, 2020 | |||||||||||||||||||||||||||||||||||||||||||
| End | High | Average | Low | End | High | Average | Low | |||||||||||||||||||||||||||||||||||||
| (in millions) | (in millions) | |||||||||||||||||||||||||||||||||||||||||||
| $ | 1.8 | $ | 3.7 | $ | 1.7 | $ | 0.7 | $ | 2.2 | $ | 2.9 | $ | 1.0 | $ | 0.1 | |||||||||||||||||||||||||||||
| Three Months Ended | Six Months Ended | |||||||||||||||||||||||||
| June 30, | June 30, | |||||||||||||||||||||||||
| 2021 | 2020 | 2021 | 2020 | |||||||||||||||||||||||
| REVENUES | ||||||||||||||||||||||||||
| Vertically Integrated Utilities | $ | 2,224.6 | $ | 2,062.3 | $ | 4,729.1 | $ | 4,255.3 | ||||||||||||||||||
| Transmission and Distribution Utilities | 1,089.6 | 1,009.4 | 2,171.9 | 2,084.6 | ||||||||||||||||||||||
| Generation & Marketing | 422.5 | 350.2 | 1,024.2 | 758.6 | ||||||||||||||||||||||
| Other Revenues | 89.8 | 72.1 | 182.4 | 143.0 | ||||||||||||||||||||||
| TOTAL REVENUES | 3,826.5 | 3,494.0 | 8,107.6 | 7,241.5 | ||||||||||||||||||||||
| EXPENSES | ||||||||||||||||||||||||||
| Purchased Electricity, Fuel and Other Consumables Used for Electric Generation | 1,124.0 | 964.9 | 2,684.7 | 2,115.9 | ||||||||||||||||||||||
| Other Operation | 566.9 | 566.0 | 1,159.3 | 1,168.1 | ||||||||||||||||||||||
| Maintenance | 264.3 | 243.4 | 539.2 | 492.9 | ||||||||||||||||||||||
| Depreciation and Amortization | 707.3 | 679.5 | 1,403.6 | 1,351.7 | ||||||||||||||||||||||
| Taxes Other Than Income Taxes | 354.1 | 317.5 | 700.6 | 638.6 | ||||||||||||||||||||||
| TOTAL EXPENSES | 3,016.6 | 2,771.3 | 6,487.4 | 5,767.2 | ||||||||||||||||||||||
| OPERATING INCOME | 809.9 | 722.7 | 1,620.2 | 1,474.3 | ||||||||||||||||||||||
| Other Income (Expense): | ||||||||||||||||||||||||||
| Other Income | 33.1 | 14.3 | 54.8 | 9.9 | ||||||||||||||||||||||
| Allowance for Equity Funds Used During Construction | 33.5 | 35.1 | 66.9 | 66.5 | ||||||||||||||||||||||
| Non-Service Cost Components of Net Periodic Benefit Cost | 29.7 | 29.8 | 59.3 | 59.5 | ||||||||||||||||||||||
| Interest Expense | (301.6) | (294.0) | (591.8) | (586.1) | ||||||||||||||||||||||
| INCOME BEFORE INCOME TAX EXPENSE AND EQUITY EARNINGS | 604.6 | 507.9 | 1,209.4 | 1,024.1 | ||||||||||||||||||||||
| Income Tax Expense | 61.2 | 12.6 | 115.7 | 59.1 | ||||||||||||||||||||||
| Equity Earnings of Unconsolidated Subsidiaries | 30.4 | 19.2 | 58.9 | 48.8 | ||||||||||||||||||||||
| NET INCOME | 573.8 | 514.5 | 1,152.6 | 1,013.8 | ||||||||||||||||||||||
| Net Loss Attributable to Noncontrolling Interests | (4.4) | (6.3) | (0.6) | (2.2) | ||||||||||||||||||||||
| EARNINGS ATTRIBUTABLE TO AEP COMMON SHAREHOLDERS | $ | 578.2 | $ | 520.8 | $ | 1,153.2 | $ | 1,016.0 | ||||||||||||||||||
|
WEIGHTED AVERAGE NUMBER OF BASIC AEP COMMON SHARES OUTSTANDING
|
499,916,640 | 495,655,053 | 498,495,532 | 495,125,961 | ||||||||||||||||||||||
|
TOTAL BASIC EARNINGS PER SHARE ATTRIBUTABLE TO AEP COMMON SHAREHOLDERS
|
$ | 1.16 | $ | 1.05 | $ | 2.31 | $ | 2.05 | ||||||||||||||||||
| WEIGHTED AVERAGE NUMBER OF DILUTED AEP COMMON SHARES OUTSTANDING | 500,983,778 | 497,337,980 | 499,581,893 | 496,973,449 | ||||||||||||||||||||||
|
TOTAL DILUTED EARNINGS PER SHARE ATTRIBUTABLE TO AEP COMMON SHAREHOLDERS
|
$ | 1.15 | $ | 1.05 | $ | 2.31 | $ | 2.04 | ||||||||||||||||||
| Three Months Ended | Six Months Ended | |||||||||||||||||||||||||
| June 30, | June 30, | |||||||||||||||||||||||||
| 2021 | 2020 | 2021 | 2020 | |||||||||||||||||||||||
| Net Income | $ | 573.8 | $ | 514.5 | $ | 1,152.6 | $ | 1,013.8 | ||||||||||||||||||
| OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAXES | ||||||||||||||||||||||||||
|
Cash Flow Hedges, Net of Tax of $34.5 and $12.0 for the Three Months Ended June 30, 2021 and 2020, Respectively, and $49.5 and $(5.8) for the Six Months Ended June 30, 2021 and 2020, Respectively
|
129.9 | 45.3 | 186.2 | (21.7) | ||||||||||||||||||||||
|
Amortization of Pension and OPEB Deferred Costs, Net of Tax of $(0.6) and $(0.4) for the Three Months Ended June 30, 2021 and 2020, Respectively, and $(1.1) and $(0.9) for the Six Months Ended June 30, 2021 and 2020, Respectively
|
(2.1) | (1.7) | (4.1) | (3.5) | ||||||||||||||||||||||
| TOTAL OTHER COMPREHENSIVE INCOME (LOSS) | 127.8 | 43.6 | 182.1 | (25.2) | ||||||||||||||||||||||
| TOTAL COMPREHENSIVE INCOME | 701.6 | 558.1 | 1,334.7 | 988.6 | ||||||||||||||||||||||
| Total Comprehensive Loss Attributable To Noncontrolling Interests | (4.4) | (6.3) | (0.6) | (2.2) | ||||||||||||||||||||||
| TOTAL COMPREHENSIVE INCOME ATTRIBUTABLE TO AEP COMMON SHAREHOLDERS | $ | 706.0 | $ | 564.4 | $ | 1,335.3 | $ | 990.8 | ||||||||||||||||||
| AEP Common Shareholders | |||||||||||||||||||||||||||||||||||||||||
| Common Stock |
Accumulated
Other Comprehensive Income (Loss) |
||||||||||||||||||||||||||||||||||||||||
| Shares | Amount |
Paid-in
Capital |
Retained
Earnings |
Noncontrolling
Interests |
Total | ||||||||||||||||||||||||||||||||||||
| TOTAL EQUITY – DECEMBER 31, 2019 | 514.4 | $ | 3,343.4 | $ | 6,535.6 | $ | 9,900.9 | $ | (147.7) | $ | 281.0 | $ | 19,913.2 | ||||||||||||||||||||||||||||
| Issuance of Common Stock | 1.0 | 6.8 | 49.3 | 56.1 | |||||||||||||||||||||||||||||||||||||
| Common Stock Dividends | (359.1) | (a) | (4.6) | (363.7) | |||||||||||||||||||||||||||||||||||||
| Other Changes in Equity | (29.0) | (1.2) | (30.2) | ||||||||||||||||||||||||||||||||||||||
| ASU 2016-13 Adoption | 1.8 | 1.8 | |||||||||||||||||||||||||||||||||||||||
| Net Income | 495.2 | 4.1 | 499.3 | ||||||||||||||||||||||||||||||||||||||
| Other Comprehensive Loss | (68.8) | (68.8) | |||||||||||||||||||||||||||||||||||||||
| TOTAL EQUITY – MARCH 31, 2020 | 515.4 | 3,350.2 | 6,555.9 | 10,038.8 | (216.5) | 279.3 | 20,007.7 | ||||||||||||||||||||||||||||||||||
| Issuance of Common Stock | 0.8 | 5.2 | 49.7 | 54.9 | |||||||||||||||||||||||||||||||||||||
| Common Stock Dividends | (337.7) | (a) | (3.2) | (340.9) | |||||||||||||||||||||||||||||||||||||
| Other Changes in Equity | (2.6) | 1.0 | (1.6) | ||||||||||||||||||||||||||||||||||||||
| Net Income (Loss) | 520.8 | (6.3) | 514.5 | ||||||||||||||||||||||||||||||||||||||
| Other Comprehensive Income | 43.6 | 43.6 | |||||||||||||||||||||||||||||||||||||||
| TOTAL EQUITY – JUNE 30, 2020 | 516.2 | $ | 3,355.4 | $ | 6,603.0 | $ | 10,221.9 | $ | (172.9) | $ | 270.8 | $ | 20,278.2 | ||||||||||||||||||||||||||||
| TOTAL EQUITY – DECEMBER 31, 2020 | 516.8 | $ | 3,359.3 | $ | 6,588.9 | $ | 10,687.8 | $ | (85.1) | $ | 223.6 | $ | 20,774.5 | ||||||||||||||||||||||||||||
| Issuance of Common Stock | 2.7 | 17.1 | 167.5 | 184.6 | |||||||||||||||||||||||||||||||||||||
| Common Stock Dividends | (369.5) | (b) | (2.5) | (372.0) | |||||||||||||||||||||||||||||||||||||
| Other Changes in Equity | (21.9) | (0.6) | 3.4 | (19.1) | |||||||||||||||||||||||||||||||||||||
| Acquisition of Dry Lake Solar Project | 18.9 | 18.9 | |||||||||||||||||||||||||||||||||||||||
| Net Income | 575.0 | 3.8 | 578.8 | ||||||||||||||||||||||||||||||||||||||
| Other Comprehensive Income | 54.3 | 54.3 | |||||||||||||||||||||||||||||||||||||||
| TOTAL EQUITY – MARCH 31, 2021 | 519.5 | 3,376.4 | 6,734.5 | 10,892.7 | (30.8) | 247.2 | 21,220.0 | ||||||||||||||||||||||||||||||||||
| Issuance of Common Stock | 0.9 | 6.3 | 66.0 | 72.3 | |||||||||||||||||||||||||||||||||||||
| Common Stock Dividends | (371.8) | (b) | (2.7) | (374.5) | |||||||||||||||||||||||||||||||||||||
| Other Changes in Equity | (0.2) | (0.4) | 11.1 | 10.5 | |||||||||||||||||||||||||||||||||||||
| Net Income (Loss) | 578.2 | (4.4) | 573.8 | ||||||||||||||||||||||||||||||||||||||
| Other Comprehensive Income | 127.8 | 127.8 | |||||||||||||||||||||||||||||||||||||||
| TOTAL EQUITY – JUNE 30, 2021 | 520.4 | $ | 3,382.7 | $ | 6,800.3 | $ | 11,098.7 | $ | 97.0 | $ | 251.2 | $ | 21,629.9 | ||||||||||||||||||||||||||||
| June 30, | December 31, | |||||||||||||
| 2021 | 2020 | |||||||||||||
| CURRENT ASSETS | ||||||||||||||
| Cash and Cash Equivalents | $ | 312.7 | $ | 392.7 | ||||||||||
|
Restricted Cash
(June 30, 2021 and December 31, 2020 Amounts Include $47 and $45.6, Respectively, Related to Transition Funding, Restoration Funding and Appalachian Consumer Rate Relief Funding)
|
47.0 | 45.6 | ||||||||||||
|
Other Temporary Investments
(June 30, 2021 and December 31, 2020 Amounts Include $204.9 and $194.6, Respectively, Related to EIS and Transource Energy)
|
221.7 | 200.8 | ||||||||||||
| Accounts Receivable: | ||||||||||||||
| Customers | 794.8 | 613.6 | ||||||||||||
| Accrued Unbilled Revenues | 259.6 | 248.7 | ||||||||||||
| Pledged Accounts Receivable – AEP Credit | 1,003.1 | 1,018.4 | ||||||||||||
| Miscellaneous | 66.6 | 33.1 | ||||||||||||
| Allowance for Uncollectible Accounts | (50.3) | (71.1) | ||||||||||||
| Total Accounts Receivable | 2,073.8 | 1,842.7 | ||||||||||||
| Fuel | 512.2 | 629.4 | ||||||||||||
| Materials and Supplies | 676.2 | 680.6 | ||||||||||||
| Risk Management Assets | 214.7 | 94.7 | ||||||||||||
| Accrued Tax Benefits | 189.8 | 185.3 | ||||||||||||
| Regulatory Asset for Under-Recovered Fuel Costs | 180.3 | 90.7 | ||||||||||||
| Margin Deposits | 43.5 | 62.0 | ||||||||||||
| Prepayments and Other Current Assets | 133.9 | 127.0 | ||||||||||||
| TOTAL CURRENT ASSETS | 4,605.8 | 4,351.5 | ||||||||||||
| PROPERTY, PLANT AND EQUIPMENT | ||||||||||||||
| Electric: | ||||||||||||||
| Generation | 23,687.3 | 23,133.9 | ||||||||||||
| Transmission | 29,213.7 | 27,886.7 | ||||||||||||
| Distribution | 24,704.6 | 23,972.1 | ||||||||||||
| Other Property, Plant and Equipment (Including Coal Mining and Nuclear Fuel) | 5,571.4 | 5,294.6 | ||||||||||||
| Construction Work in Progress | 3,879.3 | 4,025.7 | ||||||||||||
| Total Property, Plant and Equipment | 87,056.3 | 84,313.0 | ||||||||||||
| Accumulated Depreciation and Amortization | 21,391.8 | 20,411.4 | ||||||||||||
| TOTAL PROPERTY, PLANT AND EQUIPMENT – NET | 65,664.5 | 63,901.6 | ||||||||||||
| OTHER NONCURRENT ASSETS | ||||||||||||||
| Regulatory Assets | 5,048.2 | 3,527.0 | ||||||||||||
| Securitized Assets | 608.0 | 657.0 | ||||||||||||
| Spent Nuclear Fuel and Decommissioning Trusts | 3,612.4 | 3,306.7 | ||||||||||||
| Goodwill | 52.5 | 52.5 | ||||||||||||
| Long-term Risk Management Assets | 241.3 | 242.2 | ||||||||||||
| Operating Lease Assets | 797.6 | 866.4 | ||||||||||||
| Deferred Charges and Other Noncurrent Assets | 3,727.9 | 3,852.3 | ||||||||||||
| TOTAL OTHER NONCURRENT ASSETS | 14,087.9 | 12,504.1 | ||||||||||||
| TOTAL ASSETS | $ | 84,358.2 | $ | 80,757.2 | ||||||||||
| June 30, | December 31, | ||||||||||||||||||||||||||||
| 2021 | 2020 | ||||||||||||||||||||||||||||
| CURRENT LIABILITIES | |||||||||||||||||||||||||||||
| Accounts Payable | $ | 1,641.6 | $ | 1,709.7 | |||||||||||||||||||||||||
| Short-term Debt: | |||||||||||||||||||||||||||||
| Securitized Debt for Receivables – AEP Credit | 578.2 | 592.0 | |||||||||||||||||||||||||||
| Other Short-term Debt | 2,549.8 | 1,887.3 | |||||||||||||||||||||||||||
| Total Short-term Debt | 3,128.0 | 2,479.3 | |||||||||||||||||||||||||||
|
Long-term Debt Due Within One Year
(June 30, 2021 and December 31, 2020 Amounts Include $210.2 and $198.3, Respectively, Related to Sabine, DCC Fuel, Transition Funding, Restoration Funding, Appalachian Consumer Rate Relief Funding and Transource Energy)
|
2,458.5 | 2,086.1 | |||||||||||||||||||||||||||
| Risk Management Liabilities | 47.8 | 78.8 | |||||||||||||||||||||||||||
| Customer Deposits | 350.1 | 335.6 | |||||||||||||||||||||||||||
| Accrued Taxes | 1,243.5 | 1,476.4 | |||||||||||||||||||||||||||
| Accrued Interest | 274.0 | 267.6 | |||||||||||||||||||||||||||
| Obligations Under Operating Leases | 242.7 | 241.3 | |||||||||||||||||||||||||||
| Regulatory Liability for Over-Recovered Fuel Costs | 32.7 | 52.6 | |||||||||||||||||||||||||||
| Other Current Liabilities | 1,009.7 | 1,199.3 | |||||||||||||||||||||||||||
| TOTAL CURRENT LIABILITIES | 10,428.6 | 9,926.7 | |||||||||||||||||||||||||||
| NONCURRENT LIABILITIES | |||||||||||||||||||||||||||||
|
Long-term Debt
(June 30, 2021 and December 31, 2020 Amounts Include $922.5 and $950.1, Respectively, Related to Sabine, DCC Fuel, Transition Funding, Restoration Funding, Appalachian Consumer Rate Relief Funding and Transource Energy)
|
30,659.3 | 28,986.4 | |||||||||||||||||||||||||||
| Long-term Risk Management Liabilities | 216.3 | 232.8 | |||||||||||||||||||||||||||
| Deferred Income Taxes | 8,382.1 | 8,240.9 | |||||||||||||||||||||||||||
| Regulatory Liabilities and Deferred Investment Tax Credits | 8,767.5 | 8,378.7 | |||||||||||||||||||||||||||
| Asset Retirement Obligations | 2,576.2 | 2,469.2 | |||||||||||||||||||||||||||
| Employee Benefits and Pension Obligations | 340.1 | 336.4 | |||||||||||||||||||||||||||
| Obligations Under Operating Leases | 568.4 | 638.4 | |||||||||||||||||||||||||||
| Deferred Credits and Other Noncurrent Liabilities | 724.9 | 728.0 | |||||||||||||||||||||||||||
| TOTAL NONCURRENT LIABILITIES | 52,234.8 | 50,010.8 | |||||||||||||||||||||||||||
| TOTAL LIABILITIES | 62,663.4 | 59,937.5 | |||||||||||||||||||||||||||
| Rate Matters (Note 4) | |||||||||||||||||||||||||||||
| Commitments and Contingencies (Note 5) | |||||||||||||||||||||||||||||
| MEZZANINE EQUITY | |||||||||||||||||||||||||||||
| Contingently Redeemable Performance Share Awards | 64.9 | 45.2 | |||||||||||||||||||||||||||
| TOTAL MEZZANINE EQUITY | 64.9 | 45.2 | |||||||||||||||||||||||||||
| EQUITY | |||||||||||||||||||||||||||||
|
Common Stock – Par Value – $6.50 Per Share:
|
|||||||||||||||||||||||||||||
| 2021 | 2020 | ||||||||||||||||||||||||||||
| Shares Authorized | 600,000,000 | 600,000,000 | |||||||||||||||||||||||||||
| Shares Issued | 520,422,130 | 516,808,354 | |||||||||||||||||||||||||||
|
(20,204,160 Shares were Held in Treasury as of June 30, 2021 and December 31, 2020, Respectively)
|
3,382.7 | 3,359.3 | |||||||||||||||||||||||||||
| Paid-in Capital | 6,800.3 | 6,588.9 | |||||||||||||||||||||||||||
| Retained Earnings | 11,098.7 | 10,687.8 | |||||||||||||||||||||||||||
| Accumulated Other Comprehensive Income (Loss) | 97.0 | (85.1) | |||||||||||||||||||||||||||
| TOTAL AEP COMMON SHAREHOLDERS’ EQUITY | 21,378.7 | 20,550.9 | |||||||||||||||||||||||||||
| Noncontrolling Interests | 251.2 | 223.6 | |||||||||||||||||||||||||||
| TOTAL EQUITY | 21,629.9 | 20,774.5 | |||||||||||||||||||||||||||
| TOTAL LIABILITIES, MEZZANINE EQUITY AND TOTAL EQUITY | $ | 84,358.2 | $ | 80,757.2 | |||||||||||||||||||||||||
| Three Months Ended | Six Months Ended | ||||||||||||||||||||||
| June 30, | June 30, | ||||||||||||||||||||||
| 2021 | 2020 | 2021 | 2020 | ||||||||||||||||||||
| (in millions of KWhs) | |||||||||||||||||||||||
| Retail: | |||||||||||||||||||||||
| Residential | 3,006 | 3,158 | 5,824 | 5,624 | |||||||||||||||||||
| Commercial | 2,819 | 2,402 | 4,893 | 4,759 | |||||||||||||||||||
| Industrial | 2,604 | 2,216 | 4,484 | 4,581 | |||||||||||||||||||
| Miscellaneous | 159 | 150 | 296 | 302 | |||||||||||||||||||
| Total Retail | 8,588 | 7,926 | 15,497 | 15,266 | |||||||||||||||||||
| Three Months Ended | Six Months Ended | ||||||||||||||||||||||
| June 30, | June 30, | ||||||||||||||||||||||
| 2021 | 2020 | 2021 | 2020 | ||||||||||||||||||||
| (in degree days) | |||||||||||||||||||||||
| Actual – Heating (a) | 4 | 6 | 319 | 97 | |||||||||||||||||||
| Normal – Heating (b) | 3 | 3 | 188 | 188 | |||||||||||||||||||
| Actual – Cooling (c) | 833 | 936 | 970 | 1,167 | |||||||||||||||||||
| Normal – Cooling (b) | 931 | 933 | 1,057 | 1,058 | |||||||||||||||||||
| AEP Texas Inc. and Subsidiaries | ||||||||
| Reconciliation of Second Quarter of 2020 to Second Quarter of 2021 | ||||||||
| Net Income | ||||||||
| (in millions) | ||||||||
| Second Quarter of 2020 | $ | 66.9 | ||||||
| Changes in Gross Margin: | ||||||||
| Retail Margins | 30.7 | |||||||
| Margins from Off-system Sales | (12.9) | |||||||
| Transmission Revenues | 29.5 | |||||||
| Other Revenues | (47.1) | |||||||
| Total Change in Gross Margin | 0.2 | |||||||
| Changes in Expenses and Other: | ||||||||
| Other Operation and Maintenance | (12.3) | |||||||
| Depreciation and Amortization | 63.6 | |||||||
| Taxes Other Than Income Taxes | (5.5) | |||||||
| Interest Income | 0.1 | |||||||
| Allowance for Equity Funds Used During Construction | (1.5) | |||||||
| Non-Service Cost Components of Net Periodic Benefit Cost | (0.1) | |||||||
| Interest Expense | (3.1) | |||||||
| Total Change in Expenses and Other | 41.2 | |||||||
| Income Tax Expense | (28.5) | |||||||
| Second Quarter of 2021 | $ | 79.8 | ||||||
| AEP Texas Inc. and Subsidiaries | ||||||||
| Reconciliation of Six Months Ended June 30, 2020 to Six Months Ended June 30, 2021 | ||||||||
| Net Income | ||||||||
| (in millions) | ||||||||
| Six Months Ended June 30, 2020 | $ | 114.5 | ||||||
| Changes in Gross Margin: | ||||||||
| Retail Margins | 24.4 | |||||||
| Margins from Off-system Sales | (43.1) | |||||||
| Transmission Revenues | 44.8 | |||||||
| Other Revenues | (85.3) | |||||||
| Total Change in Gross Margin | (59.2) | |||||||
| Changes in Expenses and Other: | ||||||||
| Other Operation and Maintenance | (15.5) | |||||||
| Depreciation and Amortization | 128.6 | |||||||
| Taxes Other Than Income Taxes | (7.8) | |||||||
| Interest Income | (0.3) | |||||||
| Allowance for Equity Funds Used During Construction | (2.5) | |||||||
| Non-Service Cost Components of Net Periodic Benefit Cost | (0.1) | |||||||
| Interest Expense | (3.6) | |||||||
| Total Change in Expenses and Other | 98.8 | |||||||
| Income Tax Expense | (28.2) | |||||||
| Six Months Ended June 30, 2021 | $ | 125.9 | ||||||
| Three Months Ended | Six Months Ended | |||||||||||||||||||||||||
| June 30, | June 30, | |||||||||||||||||||||||||
| 2021 | 2020 | 2021 | 2020 | |||||||||||||||||||||||
| REVENUES | ||||||||||||||||||||||||||
| Electric Transmission and Distribution | $ | 396.6 | $ | 383.5 | $ | 758.3 | $ | 775.1 | ||||||||||||||||||
| Sales to AEP Affiliates | 1.0 | 16.9 | 2.0 | 48.0 | ||||||||||||||||||||||
| Other Revenues | 0.9 | 1.1 | 2.4 | 2.0 | ||||||||||||||||||||||
| TOTAL REVENUES | 398.5 | 401.5 | 762.7 | 825.1 | ||||||||||||||||||||||
| EXPENSES | ||||||||||||||||||||||||||
| Fuel and Other Consumables Used for Electric Generation | — | 3.2 | — | 3.2 | ||||||||||||||||||||||
| Other Operation | 109.6 | 92.9 | 231.8 | 210.4 | ||||||||||||||||||||||
| Maintenance | 18.7 | 23.1 | 37.8 | 43.7 | ||||||||||||||||||||||
| Depreciation and Amortization | 102.0 | 165.6 | 199.5 | 328.1 | ||||||||||||||||||||||
| Taxes Other Than Income Taxes | 39.5 | 34.0 | 75.8 | 68.0 | ||||||||||||||||||||||
| TOTAL EXPENSES | 269.8 | 318.8 | 544.9 | 653.4 | ||||||||||||||||||||||
| OPERATING INCOME | 128.7 | 82.7 | 217.8 | 171.7 | ||||||||||||||||||||||
| Other Income (Expense): | ||||||||||||||||||||||||||
| Interest Income | 0.2 | 0.1 | 0.4 | 0.7 | ||||||||||||||||||||||
| Allowance for Equity Funds Used During Construction | 3.4 | 4.9 | 7.5 | 10.0 | ||||||||||||||||||||||
| Non-Service Cost Components of Net Periodic Benefit Cost | 2.7 | 2.8 | 5.5 | 5.6 | ||||||||||||||||||||||
| Interest Expense | (45.3) | (42.2) | (88.3) | (84.7) | ||||||||||||||||||||||
| INCOME BEFORE INCOME TAX EXPENSE (BENEFIT) | 89.7 | 48.3 | 142.9 | 103.3 | ||||||||||||||||||||||
| Income Tax Expense (Benefit) | 9.9 | (18.6) | 17.0 | (11.2) | ||||||||||||||||||||||
| NET INCOME | $ | 79.8 | $ | 66.9 | $ | 125.9 | $ | 114.5 | ||||||||||||||||||
| The common stock of AEP Texas is wholly-owned by Parent. | ||||||||||||||||||||||||||
| Three Months Ended | Six Months Ended | |||||||||||||||||||||||||
| June 30, | June 30, | |||||||||||||||||||||||||
| 2021 | 2020 | 2021 | 2020 | |||||||||||||||||||||||
| Net Income | $ | 79.8 | $ | 66.9 | $ | 125.9 | $ | 114.5 | ||||||||||||||||||
| OTHER COMPREHENSIVE INCOME, NET OF TAXES | ||||||||||||||||||||||||||
|
Cash Flow Hedges, Net of Tax of $0 and $0 for the Three Months Ended June 30, 2021 and 2020, Respectively, and $0.1 and $0.1 for the Six Months Ended June 30, 2021 and 2020, Respectively
|
0.2 | 0.2 | 0.5 | 0.5 | ||||||||||||||||||||||
|
Amortization of Pension and OPEB Deferred Costs, Net of Tax of $0 and $0 for the Three Months Ended June 30, 2021 and 2020, Respectively, and $0 and $0 for the Six Months Ended June 30, 2021 and 2020, Respectively
|
0.1 | 0.1 | 0.1 | 0.1 | ||||||||||||||||||||||
| TOTAL OTHER COMPREHENSIVE INCOME | 0.3 | 0.3 | 0.6 | 0.6 | ||||||||||||||||||||||
| TOTAL COMPREHENSIVE INCOME | $ | 80.1 | $ | 67.2 | $ | 126.5 | $ | 115.1 | ||||||||||||||||||
|
Paid-in
Capital |
Retained
Earnings |
Accumulated
Other Comprehensive Income (Loss) |
Total | |||||||||||||||||||||||
|
TOTAL COMMON SHAREHOLDER’S EQUITY – DECEMBER 31, 2019
|
$ | 1,457.9 | $ | 1,516.0 | $ | (12.8) | $ | 2,961.1 | ||||||||||||||||||
| Net Income | 47.6 | 47.6 | ||||||||||||||||||||||||
| Other Comprehensive Income | 0.3 | 0.3 | ||||||||||||||||||||||||
|
TOTAL COMMON SHAREHOLDER’S EQUITY – MARCH 31, 2020
|
1,457.9 | 1,563.6 | (12.5) | 3,009.0 | ||||||||||||||||||||||
| Net Income | 66.9 | 66.9 | ||||||||||||||||||||||||
| Other Comprehensive Income | 0.3 | 0.3 | ||||||||||||||||||||||||
|
TOTAL COMMON SHAREHOLDER’S EQUITY – JUNE 30, 2020
|
$ | 1,457.9 | $ | 1,630.5 | $ | (12.2) | $ | 3,076.2 | ||||||||||||||||||
|
TOTAL COMMON SHAREHOLDER’S EQUITY – DECEMBER 31, 2020
|
$ | 1,457.9 | $ | 1,757.0 | $ | (8.9) | $ | 3,206.0 | ||||||||||||||||||
| Net Income | 46.1 | 46.1 | ||||||||||||||||||||||||
| Other Comprehensive Income | 0.3 | 0.3 | ||||||||||||||||||||||||
|
TOTAL COMMON SHAREHOLDER’S EQUITY – MARCH 31, 2021
|
1,457.9 | 1,803.1 | (8.6) | 3,252.4 | ||||||||||||||||||||||
| Net Income | 79.8 | 79.8 | ||||||||||||||||||||||||
| Other Comprehensive Income | 0.3 | 0.3 | ||||||||||||||||||||||||
|
TOTAL COMMON SHAREHOLDER’S EQUITY – JUNE 30, 2021
|
$ | 1,457.9 | $ | 1,882.9 | $ | (8.3) | $ | 3,332.5 | ||||||||||||||||||
| June 30, | December 31, | |||||||||||||
| 2021 | 2020 | |||||||||||||
| CURRENT ASSETS | ||||||||||||||
| Cash and Cash Equivalents | $ | 0.1 | $ | 0.1 | ||||||||||
|
Restricted Cash
(June 30, 2021 and December 31, 2020 Amounts Include $27.9 and $28.7, Respectively, Related to Transition Funding and Restoration Funding) |
27.9 | 28.7 | ||||||||||||
| Advances to Affiliates | 54.3 | 7.1 | ||||||||||||
| Accounts Receivable: | ||||||||||||||
| Customers | 141.7 | 112.8 | ||||||||||||
| Affiliated Companies | 6.9 | 5.1 | ||||||||||||
| Accrued Unbilled Revenues | 82.9 | 65.8 | ||||||||||||
| Miscellaneous | 0.1 | — | ||||||||||||
| Allowance for Uncollectible Accounts | (4.2) | (0.1) | ||||||||||||
| Total Accounts Receivable | 227.4 | 183.6 | ||||||||||||
| Materials and Supplies | 69.5 | 70.0 | ||||||||||||
| Accrued Tax Benefits | 4.5 | 16.8 | ||||||||||||
| Prepayments and Other Current Assets | 4.3 | 4.6 | ||||||||||||
| TOTAL CURRENT ASSETS | 388.0 | 310.9 | ||||||||||||
| PROPERTY, PLANT AND EQUIPMENT | ||||||||||||||
| Electric: | ||||||||||||||
|
Transmission
|
5,571.9 | 5,279.6 | ||||||||||||
|
Distribution
|
4,750.8 | 4,580.8 | ||||||||||||
| Other Property, Plant and Equipment | 908.9 | 868.4 | ||||||||||||
| Construction Work in Progress | 510.0 | 614.1 | ||||||||||||
| Total Property, Plant and Equipment | 11,741.6 | 11,342.9 | ||||||||||||
| Accumulated Depreciation and Amortization | 1,588.9 | 1,529.3 | ||||||||||||
| TOTAL PROPERTY, PLANT AND EQUIPMENT – NET | 10,152.7 | 9,813.6 | ||||||||||||
| OTHER NONCURRENT ASSETS | ||||||||||||||
| Regulatory Assets | 292.0 | 266.8 | ||||||||||||
|
Securitized Assets
(June 30, 2021 and December 31, 2020 Amounts Include $410.4 and $446.8, Respectively, Related to Transition Funding and Restoration Funding)
|
410.4 | 446.8 | ||||||||||||
| Deferred Charges and Other Noncurrent Assets | 240.7 | 192.1 | ||||||||||||
| TOTAL OTHER NONCURRENT ASSETS | 943.1 | 905.7 | ||||||||||||
| TOTAL ASSETS | $ | 11,483.8 | $ | 11,030.2 | ||||||||||
| June 30, | December 31, | |||||||||||||
| 2021 | 2020 | |||||||||||||
| CURRENT LIABILITIES | ||||||||||||||
| Advances from Affiliates | $ | — | $ | 67.1 | ||||||||||
| Accounts Payable: | ||||||||||||||
| General | 185.8 | 231.7 | ||||||||||||
| Affiliated Companies | 31.1 | 44.0 | ||||||||||||
|
Long-term Debt Due Within One Year – Nonaffiliated
(June 30, 2021 and December 31, 2020 Amounts Include $89.8 and $88.7, Respectively, Related to Transition Funding and Restoration Funding)
|
289.9 | 88.7 | ||||||||||||
| Accrued Taxes | 113.4 | 78.3 | ||||||||||||
|
Accrued Interest
(June 30, 2021 and December 31, 2020 Amounts Include $2.4 and $2.5, Respectively, Related to Transition Funding and Restoration Funding)
|
46.2 | 43.9 | ||||||||||||
| Obligations Under Operating Leases | 14.2 | 14.5 | ||||||||||||
| Other Current Liabilities | 78.5 | 108.6 | ||||||||||||
| TOTAL CURRENT LIABILITIES | 759.1 | 676.8 | ||||||||||||
| NONCURRENT LIABILITIES | ||||||||||||||
|
Long-term Debt – Nonaffiliated
(June 30, 2021 and December 31, 2020 Amounts Include $362.3 and $403.9, Respectively, Related to Transition Funding and Restoration Funding)
|
4,936.1 | 4,731.7 | ||||||||||||
| Deferred Income Taxes | 1,045.9 | 1,016.7 | ||||||||||||
| Regulatory Liabilities and Deferred Investment Tax Credits | 1,273.6 | 1,270.8 | ||||||||||||
| Obligations Under Operating Leases | 67.7 | 71.0 | ||||||||||||
| Deferred Credits and Other Noncurrent Liabilities | 68.9 | 57.2 | ||||||||||||
| TOTAL NONCURRENT LIABILITIES | 7,392.2 | 7,147.4 | ||||||||||||
| TOTAL LIABILITIES | 8,151.3 | 7,824.2 | ||||||||||||
| Rate Matters (Note 4) | ||||||||||||||
| Commitments and Contingencies (Note 5) | ||||||||||||||
| COMMON SHAREHOLDER’S EQUITY | ||||||||||||||
| Paid-in Capital | 1,457.9 | 1,457.9 | ||||||||||||
| Retained Earnings | 1,882.9 | 1,757.0 | ||||||||||||
| Accumulated Other Comprehensive Income (Loss) | (8.3) | (8.9) | ||||||||||||
| TOTAL COMMON SHAREHOLDER’S EQUITY | 3,332.5 | 3,206.0 | ||||||||||||
| TOTAL LIABILITIES AND COMMON SHAREHOLDER’S EQUITY | $ | 11,483.8 | $ | 11,030.2 | ||||||||||
| As of June 30, | ||||||||||||||
| 2021 | 2020 | |||||||||||||
| (in millions) | ||||||||||||||
| Plant In Service | $ | 10,660.2 | $ | 8,931.5 | ||||||||||
| Construction Work in Progress | 1,393.4 | 1,613.9 | ||||||||||||
| Accumulated Depreciation and Amortization | 677.1 | 488.3 | ||||||||||||
| Total Transmission Property, Net | $ | 11,376.5 | $ | 10,057.1 | ||||||||||
| AEP Transmission Company, LLC and Subsidiaries | ||||||||
| Reconciliation of Second Quarter of 2020 to Second Quarter of 2021 | ||||||||
| Net Income | ||||||||
| (in millions) | ||||||||
| Second Quarter of 2020 | $ | 73.7 | ||||||
| Changes in Transmission Revenues: | ||||||||
| Transmission Revenues | 127.4 | |||||||
| Total Change in Transmission Revenues | 127.4 | |||||||
| Changes in Expenses and Other: | ||||||||
| Other Operation and Maintenance | (4.7) | |||||||
| Depreciation and Amortization | (13.5) | |||||||
| Taxes Other Than Income Taxes | (9.9) | |||||||
| Interest Income | (1.2) | |||||||
| Allowance for Equity Funds Used During Construction | (1.9) | |||||||
| Interest Expense | (1.5) | |||||||
| Total Change in Expenses and Other | (32.7) | |||||||
| Income Tax Expense | (19.8) | |||||||
| Second Quarter of 2021 | $ | 148.6 | ||||||
| AEP Transmission Company, LLC and Subsidiaries | ||||||||
| Reconciliation of Six Months Ended June 30, 2020 to Six Months Ended June 30, 2021 | ||||||||
| Net Income | ||||||||
| (in millions) | ||||||||
| Six Months Ended June 30, 2020 | $ | 191.5 | ||||||
| Changes in Transmission Revenues: | ||||||||
| Transmission Revenues | 193.5 | |||||||
| Total Change in Transmission Revenues | 193.5 | |||||||
| Changes in Expenses and Other: | ||||||||
| Other Operation and Maintenance | (2.4) | |||||||
| Depreciation and Amortization | (28.1) | |||||||
| Taxes Other Than Income Taxes | (17.3) | |||||||
| Interest Income | (1.9) | |||||||
| Allowance for Equity Funds Used During Construction | (1.4) | |||||||
| Interest Expense | (6.0) | |||||||
| Total Change in Expenses and Other | (57.1) | |||||||
| Income Tax Expense | (27.6) | |||||||
| Six Months Ended June 30, 2021 | $ | 300.3 | ||||||
| Three Months Ended | Six Months Ended | |||||||||||||||||||||||||
| June 30, | June 30, | |||||||||||||||||||||||||
| 2021 | 2020 | 2021 | 2020 | |||||||||||||||||||||||
| REVENUES | ||||||||||||||||||||||||||
| Transmission Revenues | $ | 84.1 | $ | 60.4 | $ | 160.1 | $ | 121.7 | ||||||||||||||||||
| Sales to AEP Affiliates | 281.4 | 177.7 | 567.0 | 411.4 | ||||||||||||||||||||||
| Other Revenues | — | — | 0.1 | 0.6 | ||||||||||||||||||||||
| TOTAL REVENUES | 365.5 | 238.1 | 727.2 | 533.7 | ||||||||||||||||||||||
| EXPENSES | ||||||||||||||||||||||||||
| Other Operation | 24.4 | 22.9 | 45.5 | 46.7 | ||||||||||||||||||||||
| Maintenance | 3.3 | 0.1 | 6.9 | 3.3 | ||||||||||||||||||||||
| Depreciation and Amortization | 72.4 | 58.9 | 143.0 | 114.9 | ||||||||||||||||||||||
| Taxes Other Than Income Taxes | 60.1 | 50.2 | 117.9 | 100.6 | ||||||||||||||||||||||
| TOTAL EXPENSES | 160.2 | 132.1 | 313.3 | 265.5 | ||||||||||||||||||||||
| OPERATING INCOME | 205.3 | 106.0 | 413.9 | 268.2 | ||||||||||||||||||||||
| Other Income (Expense): | ||||||||||||||||||||||||||
| Interest Income - Affiliated | 0.1 | 1.3 | 0.2 | 2.1 | ||||||||||||||||||||||
| Allowance for Equity Funds Used During Construction | 16.6 | 18.5 | 33.3 | 34.7 | ||||||||||||||||||||||
| Interest Expense | (34.3) | (32.8) | (68.4) | (62.4) | ||||||||||||||||||||||
| INCOME BEFORE INCOME TAX EXPENSE | 187.7 | 93.0 | 379.0 | 242.6 | ||||||||||||||||||||||
| Income Tax Expense | 39.1 | 19.3 | 78.7 | 51.1 | ||||||||||||||||||||||
| NET INCOME | $ | 148.6 | $ | 73.7 | $ | 300.3 | $ | 191.5 | ||||||||||||||||||
|
Paid-in
Capital |
Retained
Earnings |
Total | ||||||||||||||||||
| TOTAL MEMBER'S EQUITY – DECEMBER 31, 2019 | $ | 2,480.6 | $ | 1,528.9 | $ | 4,009.5 | ||||||||||||||
| Capital Contribution from Member | 185.0 | 185.0 | ||||||||||||||||||
| Net Income | 117.8 | 117.8 | ||||||||||||||||||
| TOTAL MEMBER'S EQUITY – MARCH 31, 2020 | 2,665.6 | 1,646.7 | 4,312.3 | |||||||||||||||||
| Dividends Paid to Member | (5.0) | (5.0) | ||||||||||||||||||
| Net Income | 73.7 | 73.7 | ||||||||||||||||||
| TOTAL MEMBER'S EQUITY – JUNE 30, 2020 | $ | 2,665.6 | $ | 1,715.4 | $ | 4,381.0 | ||||||||||||||
| TOTAL MEMBER'S EQUITY – DECEMBER 31, 2020 | $ | 2,765.6 | $ | 1,947.3 | $ | 4,712.9 | ||||||||||||||
| Capital Contribution from Member | 124.0 | 124.0 | ||||||||||||||||||
| Net Income | 151.7 | 151.7 | ||||||||||||||||||
| TOTAL MEMBER'S EQUITY – MARCH 31, 2021 | 2,889.6 | 2,099.0 | 4,988.6 | |||||||||||||||||
| Capital Contribution from Member | 60.0 | 60.0 | ||||||||||||||||||
| Net Income | 148.6 | 148.6 | ||||||||||||||||||
| TOTAL MEMBER'S EQUITY – JUNE 30, 2021 | $ | 2,949.6 | $ | 2,247.6 | $ | 5,197.2 | ||||||||||||||
| June 30, | December 31, | |||||||||||||
| 2021 | 2020 | |||||||||||||
| CURRENT ASSETS | ||||||||||||||
| Advances to Affiliates | $ | 113.6 | $ | 109.1 | ||||||||||
| Accounts Receivable: | ||||||||||||||
| Customers | 29.7 | 22.9 | ||||||||||||
| Affiliated Companies | 96.6 | 81.2 | ||||||||||||
| Total Accounts Receivable | 126.3 | 104.1 | ||||||||||||
| Materials and Supplies | 9.0 | 8.5 | ||||||||||||
| Prepayments and Other Current Assets | 14.6 | 14.1 | ||||||||||||
| TOTAL CURRENT ASSETS | 263.5 | 235.8 | ||||||||||||
| TRANSMISSION PROPERTY | ||||||||||||||
| Transmission Property | 10,278.7 | 9,593.5 | ||||||||||||
| Other Property, Plant and Equipment | 381.5 | 329.5 | ||||||||||||
| Construction Work in Progress | 1,393.4 | 1,422.6 | ||||||||||||
| Total Transmission Property | 12,053.6 | 11,345.6 | ||||||||||||
| Accumulated Depreciation and Amortization | 677.1 | 572.8 | ||||||||||||
| TOTAL TRANSMISSION PROPERTY – NET | 11,376.5 | 10,772.8 | ||||||||||||
| OTHER NONCURRENT ASSETS | ||||||||||||||
| Regulatory Assets | 14.8 | 15.1 | ||||||||||||
| Deferred Property Taxes | 126.8 | 220.1 | ||||||||||||
| Deferred Charges and Other Noncurrent Assets | 8.7 | 2.2 | ||||||||||||
| TOTAL OTHER NONCURRENT ASSETS | 150.3 | 237.4 | ||||||||||||
| TOTAL ASSETS | $ | 11,790.3 | $ | 11,246.0 | ||||||||||
| June 30, | December 31, | |||||||||||||
| 2021 | 2020 | |||||||||||||
| CURRENT LIABILITIES | ||||||||||||||
| Advances from Affiliates | $ | 265.3 | $ | 156.7 | ||||||||||
| Accounts Payable: | ||||||||||||||
| General | 368.4 | 380.4 | ||||||||||||
| Affiliated Companies | 70.7 | 97.3 | ||||||||||||
| Long-term Debt Due Within One Year – Nonaffiliated | 50.0 | 50.0 | ||||||||||||
| Accrued Taxes | 313.4 | 418.1 | ||||||||||||
| Accrued Interest | 23.9 | 23.9 | ||||||||||||
| Obligations Under Operating Leases | 0.9 | 1.2 | ||||||||||||
| Other Current Liabilities | 10.5 | 9.9 | ||||||||||||
| TOTAL CURRENT LIABILITIES | 1,103.1 | 1,137.5 | ||||||||||||
| NONCURRENT LIABILITIES | ||||||||||||||
| Long-term Debt – Nonaffiliated | 3,899.3 | 3,898.5 | ||||||||||||
| Deferred Income Taxes | 958.9 | 906.9 | ||||||||||||
| Regulatory Liabilities | 620.4 | 581.8 | ||||||||||||
| Obligations Under Operating Leases | 0.7 | 0.4 | ||||||||||||
| Deferred Credits and Other Noncurrent Liabilities | 10.7 | 8.0 | ||||||||||||
| TOTAL NONCURRENT LIABILITIES | 5,490.0 | 5,395.6 | ||||||||||||
| TOTAL LIABILITIES | 6,593.1 | 6,533.1 | ||||||||||||
| Rate Matters (Note 4) | ||||||||||||||
| Commitments and Contingencies (Note 5) | ||||||||||||||
| MEMBER’S EQUITY | ||||||||||||||
| Paid-in Capital | 2,949.6 | 2,765.6 | ||||||||||||
| Retained Earnings | 2,247.6 | 1,947.3 | ||||||||||||
| TOTAL MEMBER’S EQUITY | 5,197.2 | 4,712.9 | ||||||||||||
| TOTAL LIABILITIES AND MEMBER’S EQUITY | $ | 11,790.3 | $ | 11,246.0 | ||||||||||
| Three Months Ended | Six Months Ended | ||||||||||||||||||||||
| June 30, | June 30, | ||||||||||||||||||||||
| 2021 | 2020 | 2021 | 2020 | ||||||||||||||||||||
| (in millions of KWhs) | |||||||||||||||||||||||
| Retail: | |||||||||||||||||||||||
| Residential | 2,172 | 2,288 | 5,867 | 5,457 | |||||||||||||||||||
| Commercial | 1,430 | 1,321 | 2,887 | 2,798 | |||||||||||||||||||
| Industrial | 2,289 | 2,077 | 4,367 | 4,314 | |||||||||||||||||||
| Miscellaneous | 196 | 175 | 396 | 382 | |||||||||||||||||||
| Total Retail | 6,087 | 5,861 | 13,517 | 12,951 | |||||||||||||||||||
| Wholesale | 1,274 | 1,235 | 2,222 | 1,707 | |||||||||||||||||||
| Total KWhs | 7,361 | 7,096 | 15,739 | 14,658 | |||||||||||||||||||
| Three Months Ended | Six Months Ended | ||||||||||||||||||||||
| June 30, | June 30, | ||||||||||||||||||||||
| 2021 | 2020 | 2021 | 2020 | ||||||||||||||||||||
| (in degree days) | |||||||||||||||||||||||
| Actual – Heating (a) | 113 | 144 | 1,397 | 1,097 | |||||||||||||||||||
| Normal – Heating (b) | 87 | 87 | 1,402 | 1,411 | |||||||||||||||||||
| Actual – Cooling (c) | 381 | 346 | 385 | 366 | |||||||||||||||||||
| Normal – Cooling (b) | 377 | 377 | 383 | 383 | |||||||||||||||||||
| Appalachian Power Company and Subsidiaries | ||||||||
| Reconciliation of Second Quarter of 2020 to Second Quarter of 2021 | ||||||||
| Net Income | ||||||||
| (in millions) | ||||||||
| Second Quarter of 2020 | $ | 81.3 | ||||||
| Changes in Gross Margin: | ||||||||
| Retail Margins | 21.4 | |||||||
| Margins from Off-system Sales | 1.3 | |||||||
| Transmission Revenues | 7.2 | |||||||
| Other Revenues | 0.8 | |||||||
| Total Change in Gross Margin | 30.7 | |||||||
| Changes in Expenses and Other: | ||||||||
| Other Operation and Maintenance | (13.6) | |||||||
| Depreciation and Amortization | (14.8) | |||||||
| Taxes Other Than Income Taxes | (1.7) | |||||||
| Interest Income | (0.2) | |||||||
| Allowance for Equity Funds Used During Construction | 1.9 | |||||||
| Non-Service Cost Components of Net Periodic Benefit Cost | 0.1 | |||||||
| Interest Expense | 1.2 | |||||||
| Total Change in Expenses and Other | (27.1) | |||||||
| Income Tax Expense | (18.6) | |||||||
| Second Quarter of 2021 | $ | 66.3 | ||||||
| Appalachian Power Company and Subsidiaries | ||||||||
| Reconciliation of Six Months Ended June 30, 2020 to Six Months Ended June 30, 2021 | ||||||||
| Net Income | ||||||||
| (in millions) | ||||||||
| Six Months Ended June 30, 2020 | $ | 196.6 | ||||||
| Changes in Gross Margin: | ||||||||
| Retail Margins | 62.3 | |||||||
| Margins from Off-system Sales | 2.2 | |||||||
| Transmission Revenues | 14.2 | |||||||
| Other Revenues | (0.8) | |||||||
| Total Change in Gross Margin | 77.9 | |||||||
| Changes in Expenses and Other: | ||||||||
| Other Operation and Maintenance | (44.9) | |||||||
| Depreciation and Amortization | (28.4) | |||||||
| Taxes Other Than Income Taxes | (1.5) | |||||||
| Interest Income | (0.2) | |||||||
| Allowance for Equity Funds Used During Construction | 3.0 | |||||||
| Non-Service Cost Components of Net Periodic Benefit Cost | 0.1 | |||||||
| Interest Expense | (0.6) | |||||||
| Total Change in Expenses and Other | (72.5) | |||||||
| Income Tax Expense | (13.2) | |||||||
| Six Months Ended June 30, 2021 | $ | 188.8 | ||||||
| Three Months Ended | Six Months Ended | |||||||||||||||||||||||||
| June 30, | June 30, | |||||||||||||||||||||||||
| 2021 | 2020 | 2021 | 2020 | |||||||||||||||||||||||
| REVENUES | ||||||||||||||||||||||||||
| Electric Generation, Transmission and Distribution | $ | 636.5 | $ | 604.0 | $ | 1,400.7 | $ | 1,301.0 | ||||||||||||||||||
| Sales to AEP Affiliates | 38.1 | 30.8 | 88.2 | 80.5 | ||||||||||||||||||||||
| Other Revenues | 2.4 | 2.7 | 5.1 | 5.4 | ||||||||||||||||||||||
| TOTAL REVENUES | 677.0 | 637.5 | 1,494.0 | 1,386.9 | ||||||||||||||||||||||
| EXPENSES | ||||||||||||||||||||||||||
| Fuel and Other Consumables Used for Electric Generation | 137.2 | 153.9 | 301.1 | 264.9 | ||||||||||||||||||||||
| Purchased Electricity for Resale | 75.9 | 50.4 | 166.0 | 173.0 | ||||||||||||||||||||||
| Other Operation | 118.7 | 108.8 | 269.1 | 242.8 | ||||||||||||||||||||||
| Maintenance | 50.1 | 46.4 | 115.3 | 96.7 | ||||||||||||||||||||||
| Depreciation and Amortization | 135.4 | 120.6 | 271.2 | 242.8 | ||||||||||||||||||||||
| Taxes Other Than Income Taxes | 39.2 | 37.5 | 76.9 | 75.4 | ||||||||||||||||||||||
| TOTAL EXPENSES | 556.5 | 517.6 | 1,199.6 | 1,095.6 | ||||||||||||||||||||||
| OPERATING INCOME | 120.5 | 119.9 | 294.4 | 291.3 | ||||||||||||||||||||||
| Other Income (Expense): | ||||||||||||||||||||||||||
| Interest Income | 0.3 | 0.5 | 0.6 | 0.8 | ||||||||||||||||||||||
| Allowance for Equity Funds Used During Construction | 4.3 | 2.4 | 7.8 | 4.8 | ||||||||||||||||||||||
| Non-Service Cost Components of Net Periodic Benefit Cost | 4.8 | 4.7 | 9.5 | 9.4 | ||||||||||||||||||||||
| Interest Expense | (52.9) | (54.1) | (107.8) | (107.2) | ||||||||||||||||||||||
| INCOME BEFORE INCOME TAX EXPENSE (BENEFIT) | 77.0 | 73.4 | 204.5 | 199.1 | ||||||||||||||||||||||
| Income Tax Expense (Benefit) | 10.7 | (7.9) | 15.7 | 2.5 | ||||||||||||||||||||||
| NET INCOME | $ | 66.3 | $ | 81.3 | $ | 188.8 | $ | 196.6 | ||||||||||||||||||
| The common stock of APCo is wholly-owned by Parent. | ||||||||||||||||||||||||||
| Three Months Ended | Six Months Ended | |||||||||||||||||||||||||
| June 30, | June 30, | |||||||||||||||||||||||||
| 2021 | 2020 | 2021 | 2020 | |||||||||||||||||||||||
| Net Income | $ | 66.3 | $ | 81.3 | $ | 188.8 | $ | 196.6 | ||||||||||||||||||
| OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAXES | ||||||||||||||||||||||||||
|
Cash Flow Hedges, Net of Tax of $(0.1) and $(0.2) for the Three Months Ended June 30, 2021 and 2020, Respectively, and $2.3 and $(1.3) for Six Months Ended June 30, 2021 and 2020, Respectively
|
(0.2) | (0.8) | 8.8 | (5.0) | ||||||||||||||||||||||
|
Amortization of Pension and OPEB Deferred Costs, Net of Tax of $(0.3) and $(0.2) for the Three Months Ended June 30, 2021 and 2020, Respectively, and $(0.6) and $(0.5) for the Six Months Ended June 30, 2021 and 2020, Respectively
|
(1.0) | (1.0) | (2.1) | (1.9) | ||||||||||||||||||||||
| TOTAL OTHER COMPREHENSIVE INCOME (LOSS) | (1.2) | (1.8) | 6.7 | (6.9) | ||||||||||||||||||||||
| TOTAL COMPREHENSIVE INCOME | $ | 65.1 | $ | 79.5 | $ | 195.5 | $ | 189.7 | ||||||||||||||||||
|
Common
Stock |
Paid-in
Capital |
Retained
Earnings |
Accumulated
Other Comprehensive Income (Loss) |
Total | ||||||||||||||||||||||||||||
|
TOTAL COMMON SHAREHOLDER’S
EQUITY - DECEMBER 31, 2019
|
$ | 260.4 | $ | 1,828.7 | $ | 2,078.3 | $ | 5.0 | $ | 4,172.4 | ||||||||||||||||||||||
| Common Stock Dividends | (50.0) | (50.0) | ||||||||||||||||||||||||||||||
| Net Income | 115.3 | 115.3 | ||||||||||||||||||||||||||||||
| Other Comprehensive Loss | (5.1) | (5.1) | ||||||||||||||||||||||||||||||
| TOTAL COMMON SHAREHOLDER'S EQUITY -MARCH 31, 2020 | 260.4 | 1,828.7 | 2,143.6 | (0.1) | 4,232.6 | |||||||||||||||||||||||||||
| Common Stock Dividends | (50.0) | (50.0) | ||||||||||||||||||||||||||||||
| Net Income | 81.3 | 81.3 | ||||||||||||||||||||||||||||||
| Other Comprehensive Loss | (1.8) | (1.8) | ||||||||||||||||||||||||||||||
| TOTAL COMMON SHAREHOLDER'S EQUITY - JUNE 30, 2020 | $ | 260.4 | $ | 1,828.7 | $ | 2,174.9 | $ | (1.9) | $ | 4,262.1 | ||||||||||||||||||||||
| TOTAL COMMON SHAREHOLDER'S EQUITY - DECEMBER 31, 2020 | $ | 260.4 | $ | 1,828.7 | $ | 2,248.0 | $ | 7.2 | $ | 4,344.3 | ||||||||||||||||||||||
| Common Stock Dividends | (12.5) | (12.5) | ||||||||||||||||||||||||||||||
| Net Income | 122.5 | 122.5 | ||||||||||||||||||||||||||||||
| Other Comprehensive Income | 7.9 | 7.9 | ||||||||||||||||||||||||||||||
| TOTAL COMMON SHAREHOLDER'S EQUITY - MARCH 31, 2021 | 260.4 | 1,828.7 | 2,358.0 | 15.1 | 4,462.2 | |||||||||||||||||||||||||||
| Common Stock Dividends | (12.5) | (12.5) | ||||||||||||||||||||||||||||||
| Net Income | 66.3 | 66.3 | ||||||||||||||||||||||||||||||
| Other Comprehensive Loss | (1.2) | (1.2) | ||||||||||||||||||||||||||||||
| TOTAL COMMON SHAREHOLDER'S EQUITY - JUNE 30, 2021 | $ | 260.4 | $ | 1,828.7 | $ | 2,411.8 | $ | 13.9 | $ | 4,514.8 | ||||||||||||||||||||||
| June 30, | December 31, | |||||||||||||
| 2021 | 2020 | |||||||||||||
| CURRENT ASSETS | ||||||||||||||
| Cash and Cash Equivalents | $ | 3.9 | $ | 5.8 | ||||||||||
| Restricted Cash for Securitized Funding | 19.1 | 16.9 | ||||||||||||
| Advances to Affiliates | 91.7 | 21.4 | ||||||||||||
| Accounts Receivable: | ||||||||||||||
| Customers | 149.7 | 142.8 | ||||||||||||
| Affiliated Companies | 63.8 | 64.3 | ||||||||||||
| Accrued Unbilled Revenues | 48.9 | 80.1 | ||||||||||||
| Miscellaneous | 2.2 | 0.3 | ||||||||||||
| Allowance for Uncollectible Accounts | (2.3) | (3.1) | ||||||||||||
| Total Accounts Receivable | 262.3 | 284.4 | ||||||||||||
| Fuel | 145.3 | 193.6 | ||||||||||||
| Materials and Supplies | 102.5 | 99.6 | ||||||||||||
| Risk Management Assets | 37.1 | 22.4 | ||||||||||||
| Regulatory Asset for Under-Recovered Fuel Costs | 26.4 | 5.3 | ||||||||||||
| Prepayments and Other Current Assets | 59.6 | 24.7 | ||||||||||||
| TOTAL CURRENT ASSETS | 747.9 | 674.1 | ||||||||||||
| PROPERTY, PLANT AND EQUIPMENT | ||||||||||||||
| Electric: | ||||||||||||||
| Generation | 6,653.9 | 6,633.7 | ||||||||||||
| Transmission | 4,004.8 | 3,900.5 | ||||||||||||
| Distribution | 4,563.2 | 4,464.3 | ||||||||||||
| Other Property, Plant and Equipment | 663.7 | 627.2 | ||||||||||||
| Construction Work in Progress | 529.7 | 484.6 | ||||||||||||
| Total Property, Plant and Equipment | 16,415.3 | 16,110.3 | ||||||||||||
| Accumulated Depreciation and Amortization | 4,888.8 | 4,716.2 | ||||||||||||
| TOTAL PROPERTY, PLANT AND EQUIPMENT – NET | 11,526.5 | 11,394.1 | ||||||||||||
| OTHER NONCURRENT ASSETS | ||||||||||||||
| Regulatory Assets | 830.4 | 686.3 | ||||||||||||
| Securitized Assets | 197.6 | 210.1 | ||||||||||||
| Employee Benefits and Pension Assets | 154.5 | 150.1 | ||||||||||||
| Operating Lease Assets | 74.0 | 78.8 | ||||||||||||
| Deferred Charges and Other Noncurrent Assets | 115.8 | 121.7 | ||||||||||||
| TOTAL OTHER NONCURRENT ASSETS | 1,372.3 | 1,247.0 | ||||||||||||
| TOTAL ASSETS | $ | 13,646.7 | $ | 13,315.2 | ||||||||||
| June 30, | December 31, | |||||||||||||
| 2021 | 2020 | |||||||||||||
| (in millions) | ||||||||||||||
| CURRENT LIABILITIES | ||||||||||||||
| Advances from Affiliates | $ | — | $ | 18.6 | ||||||||||
| Accounts Payable: | ||||||||||||||
| General | 219.0 | 212.0 | ||||||||||||
| Affiliated Companies | 81.4 | 97.1 | ||||||||||||
| Long-term Debt Due Within One Year – Nonaffiliated | 380.4 | 518.3 | ||||||||||||
| Customer Deposits | 72.0 | 77.8 | ||||||||||||
| Accrued Taxes | 109.3 | 109.9 | ||||||||||||
| Accrued Interest | 48.8 | 49.9 | ||||||||||||
| Obligations Under Operating Leases | 15.1 | 14.9 | ||||||||||||
| Other Current Liabilities | 108.8 | 119.2 | ||||||||||||
| TOTAL CURRENT LIABILITIES | 1,034.8 | 1,217.7 | ||||||||||||
| NONCURRENT LIABILITIES | ||||||||||||||
| Long-term Debt – Nonaffiliated | 4,569.4 | 4,315.8 | ||||||||||||
| Deferred Income Taxes | 1,739.4 | 1,749.9 | ||||||||||||
| Regulatory Liabilities and Deferred Investment Tax Credits | 1,251.3 | 1,224.7 | ||||||||||||
| Asset Retirement Obligations | 385.8 | 304.8 | ||||||||||||
| Employee Benefits and Pension Obligations | 43.7 | 44.0 | ||||||||||||
| Obligations Under Operating Leases | 59.5 | 64.4 | ||||||||||||
| Deferred Credits and Other Noncurrent Liabilities | 48.0 | 49.6 | ||||||||||||
| TOTAL NONCURRENT LIABILITIES | 8,097.1 | 7,753.2 | ||||||||||||
| TOTAL LIABILITIES | 9,131.9 | 8,970.9 | ||||||||||||
| Rate Matters (Note 4) | ||||||||||||||
| Commitments and Contingencies (Note 5) | ||||||||||||||
| COMMON SHAREHOLDER’S EQUITY | ||||||||||||||
|
Common Stock – No Par Value:
|
||||||||||||||
|
Authorized – 30,000,000 Shares
|
||||||||||||||
|
Outstanding – 13,499,500 Shares
|
260.4 | 260.4 | ||||||||||||
| Paid-in Capital | 1,828.7 | 1,828.7 | ||||||||||||
| Retained Earnings | 2,411.8 | 2,248.0 | ||||||||||||
| Accumulated Other Comprehensive Income (Loss) | 13.9 | 7.2 | ||||||||||||
| TOTAL COMMON SHAREHOLDER’S EQUITY | 4,514.8 | 4,344.3 | ||||||||||||
| TOTAL LIABILITIES AND COMMON SHAREHOLDER’S EQUITY | $ | 13,646.7 | $ | 13,315.2 | ||||||||||
| Three Months Ended | Six Months Ended | ||||||||||||||||||||||
| June 30, | June 30, | ||||||||||||||||||||||
| 2021 | 2020 | 2021 | 2020 | ||||||||||||||||||||
| (in millions of KWhs) | |||||||||||||||||||||||
| Retail: | |||||||||||||||||||||||
| Residential | 1,181 | 1,244 | 2,713 | 2,699 | |||||||||||||||||||
| Commercial | 1,136 | 1,021 | 2,214 | 2,143 | |||||||||||||||||||
| Industrial | 1,887 | 1,630 | 3,689 | 3,475 | |||||||||||||||||||
| Miscellaneous | 12 | 15 | 29 | 33 | |||||||||||||||||||
| Total Retail | 4,216 | 3,910 | 8,645 | 8,350 | |||||||||||||||||||
| Wholesale | 1,500 | 2,323 | 3,445 | 4,016 | |||||||||||||||||||
| Total KWhs | 5,716 | 6,233 | 12,090 | 12,366 | |||||||||||||||||||
| Three Months Ended | Six Months Ended | ||||||||||||||||||||||
| June 30, | June 30, | ||||||||||||||||||||||
| 2021 | 2020 | 2021 | 2020 | ||||||||||||||||||||
| (in degree days) | |||||||||||||||||||||||
| Actual – Heating (a) | 285 | 343 | 2,341 | 2,179 | |||||||||||||||||||
| Normal – Heating (b) | 238 | 237 | 2,408 | 2,419 | |||||||||||||||||||
| Actual – Cooling (c) | 325 | 286 | 325 | 286 | |||||||||||||||||||
| Normal – Cooling (b) | 266 | 263 | 267 | 265 | |||||||||||||||||||
| Indiana Michigan Power Company and Subsidiaries | ||||||||
| Reconciliation of Second Quarter of 2020 to Second Quarter of 2021 | ||||||||
| Net Income | ||||||||
| (in millions) | ||||||||
| Second Quarter of 2020 | $ | 63.8 | ||||||
| Changes in Gross Margin: | ||||||||
| Retail Margins | 28.8 | |||||||
| Margins from Off-system Sales | 0.1 | |||||||
| Transmission Revenues | (4.4) | |||||||
| Other Revenues | (2.1) | |||||||
| Total Change in Gross Margin | 22.4 | |||||||
| Changes in Expenses and Other: | ||||||||
| Other Operation and Maintenance | (30.9) | |||||||
| Depreciation and Amortization | (3.7) | |||||||
| Taxes Other Than Income Taxes | (4.1) | |||||||
| Other Income | 0.3 | |||||||
| Non-Service Cost Components of Net Periodic Benefit Cost | (0.1) | |||||||
| Interest Expense | (1.0) | |||||||
| Total Change in Expenses and Other | (39.5) | |||||||
| Income Tax Expense | 10.5 | |||||||
| Second Quarter of 2021 | $ | 57.2 | ||||||
| Indiana Michigan Power Company and Subsidiaries | ||||||||
| Reconciliation of Six Months Ended June 30, 2020 to Six Months Ended June 30, 2021 | ||||||||
| Net Income | ||||||||
| (in millions) | ||||||||
| Six Months Ended June 30, 2020 | $ | 156.1 | ||||||
| Changes in Gross Margin: | ||||||||
| Retail Margins | 26.2 | |||||||
| Margins from Off-system Sales | (0.2) | |||||||
| Transmission Revenues | (5.0) | |||||||
| Other Revenues | (0.1) | |||||||
| Total Change in Gross Margin | 20.9 | |||||||
| Changes in Expenses and Other: | ||||||||
| Other Operation and Maintenance | (40.7) | |||||||
| Depreciation and Amortization | (19.0) | |||||||
| Taxes Other Than Income Taxes | (3.9) | |||||||
| Other Income | 0.8 | |||||||
| Non-Service Cost Components of Net Periodic Benefit Cost | (0.2) | |||||||
| Interest Expense | 2.4 | |||||||
| Total Change in Expenses and Other | (60.6) | |||||||
| Income Tax Expense | 11.6 | |||||||
| Six Months Ended June 30, 2021 | $ | 128.0 | ||||||
| Three Months Ended | Six Months Ended | |||||||||||||||||||||||||
| June 30, | June 30, | |||||||||||||||||||||||||
| 2021 | 2020 | 2021 | 2020 | |||||||||||||||||||||||
| REVENUES | ||||||||||||||||||||||||||
| Electric Generation, Transmission and Distribution | $ | 569.2 | $ | 524.9 | $ | 1,116.9 | $ | 1,078.3 | ||||||||||||||||||
| Sales to AEP Affiliates | 0.7 | 4.9 | 1.5 | 7.8 | ||||||||||||||||||||||
| Other Revenues – Affiliated | 12.2 | 15.8 | 26.5 | 28.3 | ||||||||||||||||||||||
| Other Revenues – Nonaffiliated | 1.7 | 1.0 | 3.4 | 2.5 | ||||||||||||||||||||||
| TOTAL REVENUES | 583.8 | 546.6 | 1,148.3 | 1,116.9 | ||||||||||||||||||||||
| EXPENSES | ||||||||||||||||||||||||||
| Fuel and Other Consumables Used for Electric Generation | 49.9 | 48.4 | 86.2 | 101.6 | ||||||||||||||||||||||
| Purchased Electricity for Resale | 39.7 | 40.5 | 87.0 | 90.6 | ||||||||||||||||||||||
| Purchased Electricity from AEP Affiliates | 57.8 | 43.7 | 109.4 | 79.9 | ||||||||||||||||||||||
| Other Operation | 160.3 | 149.5 | 314.9 | 294.2 | ||||||||||||||||||||||
| Maintenance | 64.4 | 44.3 | 113.4 | 93.4 | ||||||||||||||||||||||
| Depreciation and Amortization | 108.9 | 105.2 | 218.1 | 199.1 | ||||||||||||||||||||||
| Taxes Other Than Income Taxes | 29.8 | 25.7 | 56.0 | 52.1 | ||||||||||||||||||||||
| TOTAL EXPENSES | 510.8 | 457.3 | 985.0 | 910.9 | ||||||||||||||||||||||
| OPERATING INCOME | 73.0 | 89.3 | 163.3 | 206.0 | ||||||||||||||||||||||
| Other Income (Expense): | ||||||||||||||||||||||||||
| Other Income | 3.4 | 3.1 | 6.4 | 5.6 | ||||||||||||||||||||||
| Non-Service Cost Components of Net Periodic Benefit Cost | 4.1 | 4.2 | 8.2 | 8.4 | ||||||||||||||||||||||
| Interest Expense | (29.1) | (28.1) | (56.4) | (58.8) | ||||||||||||||||||||||
| INCOME BEFORE INCOME TAX EXPENSE (BENEFIT) | 51.4 | 68.5 | 121.5 | 161.2 | ||||||||||||||||||||||
| Income Tax Expense (Benefit) | (5.8) | 4.7 | (6.5) | 5.1 | ||||||||||||||||||||||
| NET INCOME | $ | 57.2 | $ | 63.8 | $ | 128.0 | $ | 156.1 | ||||||||||||||||||
| The common stock of I&M is wholly-owned by Parent. | ||||||||||||||||||||||||||
| Three Months Ended | Six Months Ended | |||||||||||||||||||||||||
| June 30, | June 30, | |||||||||||||||||||||||||
| 2021 | 2020 | 2021 | 2020 | |||||||||||||||||||||||
| Net Income | $ | 57.2 | $ | 63.8 | $ | 128.0 | $ | 156.1 | ||||||||||||||||||
| OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAXES | ||||||||||||||||||||||||||
|
Cash Flow Hedges, Net of Tax of $0.1 and $0.1 for the Three Months Ended June 30, 2021 and 2020, Respectively, and $0.2 and $0.2 for the Six Months Ended June 30, 2021 and 2020, Respectively
|
0.4 | 0.4 | 0.9 | 0.8 | ||||||||||||||||||||||
|
Amortization of Pension and OPEB Deferred Costs, Net of Tax of $0 and $0 for the Three Months Ended June 30, 2021 and 2020, Respectively, and $0 and $0 for the Six Months Ended June 30, 2021 and 2020, Respectively
|
(0.1) | — | (0.1) | — | ||||||||||||||||||||||
| TOTAL OTHER COMPREHENSIVE INCOME | 0.3 | 0.4 | 0.8 | 0.8 | ||||||||||||||||||||||
| TOTAL COMPREHENSIVE INCOME | $ | 57.5 | $ | 64.2 | $ | 128.8 | $ | 156.9 | ||||||||||||||||||
|
Common
Stock |
Paid-in
Capital |
Retained
Earnings |
Accumulated
Other Comprehensive Income (Loss) |
Total | ||||||||||||||||||||||||||||
|
TOTAL COMMON SHAREHOLDER’S EQUITY - DECEMBER 31, 2019
|
$ | 56.6 | $ | 980.9 | $ | 1,518.5 | $ | (11.6) | $ | 2,544.4 | ||||||||||||||||||||||
| Common Stock Dividends | (21.3) | (21.3) | ||||||||||||||||||||||||||||||
| ASU 2016-13 Adoption | 0.4 | 0.4 | ||||||||||||||||||||||||||||||
| Net Income | 92.3 | 92.3 | ||||||||||||||||||||||||||||||
| Other Comprehensive Income | 0.4 | 0.4 | ||||||||||||||||||||||||||||||
| TOTAL COMMON SHAREHOLDER'S EQUITY -MARCH 31, 2020 | 56.6 | 980.9 | 1,589.9 | (11.2) | 2,616.2 | |||||||||||||||||||||||||||
| Common Stock Dividends | (21.2) | (21.2) | ||||||||||||||||||||||||||||||
| Net Income | 63.8 | 63.8 | ||||||||||||||||||||||||||||||
| Other Comprehensive Income | 0.4 | 0.4 | ||||||||||||||||||||||||||||||
| TOTAL COMMON SHAREHOLDER'S EQUITY - JUNE 30, 2020 | $ | 56.6 | $ | 980.9 | $ | 1,632.5 | $ | (10.8) | $ | 2,659.2 | ||||||||||||||||||||||
|
TOTAL COMMON SHAREHOLDER’S EQUITY - DECEMBER 31, 2020
|
$ | 56.6 | $ | 980.9 | $ | 1,718.7 | $ | (7.0) | $ | 2,749.2 | ||||||||||||||||||||||
| Common Stock Dividends | (25.0) | (25.0) | ||||||||||||||||||||||||||||||
| Net Income | 70.8 | 70.8 | ||||||||||||||||||||||||||||||
| Other Comprehensive Income | 0.5 | 0.5 | ||||||||||||||||||||||||||||||
| TOTAL COMMON SHAREHOLDER'S EQUITY - MARCH 31, 2021 | 56.6 | 980.9 | 1,764.5 | (6.5) | 2,795.5 | |||||||||||||||||||||||||||
| Common Stock Dividends | (75.0) | (75.0) | ||||||||||||||||||||||||||||||
| Net Income | 57.2 | 57.2 | ||||||||||||||||||||||||||||||
| Other Comprehensive Income | 0.3 | 0.3 | ||||||||||||||||||||||||||||||
| TOTAL COMMON SHAREHOLDER'S EQUITY - JUNE 30, 2021 | $ | 56.6 | $ | 980.9 | $ | 1,746.7 | $ | (6.2) | $ | 2,778.0 | ||||||||||||||||||||||
| June 30, | December 31, | |||||||||||||
| 2021 | 2020 | |||||||||||||
| CURRENT ASSETS | ||||||||||||||
| Cash and Cash Equivalents | $ | 2.5 | $ | 3.3 | ||||||||||
| Advances to Affiliates | 99.9 | 13.3 | ||||||||||||
| Accounts Receivable: | ||||||||||||||
| Customers | 50.7 | 44.0 | ||||||||||||
| Affiliated Companies | 43.5 | 51.3 | ||||||||||||
| Accrued Unbilled Revenues | 2.5 | — | ||||||||||||
| Miscellaneous | 1.9 | 2.0 | ||||||||||||
| Allowance for Uncollectible Accounts | (0.2) | (0.3) | ||||||||||||
| Total Accounts Receivable | 98.4 | 97.0 | ||||||||||||
| Fuel | 63.8 | 86.0 | ||||||||||||
| Materials and Supplies | 171.0 | 175.8 | ||||||||||||
| Risk Management Assets | 7.7 | 3.6 | ||||||||||||
| Accrued Tax Benefits | 6.6 | 10.3 | ||||||||||||
| Regulatory Asset for Under-Recovered Fuel Costs | 5.6 | 5.4 | ||||||||||||
| Prepayments and Other Current Assets | 20.8 | 24.1 | ||||||||||||
| TOTAL CURRENT ASSETS | 476.3 | 418.8 | ||||||||||||
| PROPERTY, PLANT AND EQUIPMENT | ||||||||||||||
| Electric: | ||||||||||||||
| Generation | 5,324.7 | 5,264.7 | ||||||||||||
| Transmission | 1,727.0 | 1,696.4 | ||||||||||||
| Distribution | 2,680.8 | 2,594.6 | ||||||||||||
| Other Property, Plant and Equipment (Including Coal Mining and Nuclear Fuel) | 699.4 | 686.7 | ||||||||||||
| Construction Work in Progress | 368.4 | 362.4 | ||||||||||||
| Total Property, Plant and Equipment | 10,800.3 | 10,604.8 | ||||||||||||
| Accumulated Depreciation, Depletion and Amortization | 3,726.9 | 3,552.5 | ||||||||||||
| TOTAL PROPERTY, PLANT AND EQUIPMENT – NET | 7,073.4 | 7,052.3 | ||||||||||||
| OTHER NONCURRENT ASSETS | ||||||||||||||
| Regulatory Assets | 433.1 | 404.8 | ||||||||||||
| Spent Nuclear Fuel and Decommissioning Trusts | 3,612.4 | 3,306.7 | ||||||||||||
| Operating Lease Assets | 175.9 | 218.1 | ||||||||||||
| Deferred Charges and Other Noncurrent Assets | 226.5 | 237.6 | ||||||||||||
| TOTAL OTHER NONCURRENT ASSETS | 4,447.9 | 4,167.2 | ||||||||||||
| TOTAL ASSETS | $ | 11,997.6 | $ | 11,638.3 | ||||||||||
| June 30, | December 31, | |||||||||||||
| 2021 | 2020 | |||||||||||||
| CURRENT LIABILITIES | ||||||||||||||
| Advances from Affiliates | $ | — | $ | 103.0 | ||||||||||
| Accounts Payable: | ||||||||||||||
| General | 143.3 | 153.2 | ||||||||||||
| Affiliated Companies | 74.2 | 80.5 | ||||||||||||
|
Long-term Debt Due Within One Year – Nonaffiliated
(June 30, 2021 and December 31, 2020 Amounts Include $60.9 and $75.7,
Respectively, Related to DCC Fuel)
|
140.2 | 369.6 | ||||||||||||
| Risk Management Liabilities | 1.1 | 0.1 | ||||||||||||
| Customer Deposits | 39.9 | 41.7 | ||||||||||||
| Accrued Taxes | 93.5 | 102.5 | ||||||||||||
| Accrued Interest | 37.7 | 35.6 | ||||||||||||
| Obligations Under Operating Leases | 86.5 | 85.6 | ||||||||||||
| Regulatory Liability for Over-Recovered Fuel Costs | 15.2 | 20.8 | ||||||||||||
| Other Current Liabilities | 88.6 | 111.9 | ||||||||||||
| TOTAL CURRENT LIABILITIES | 720.2 | 1,104.5 | ||||||||||||
| NONCURRENT LIABILITIES | ||||||||||||||
| Long-term Debt – Nonaffiliated | 3,114.8 | 2,660.3 | ||||||||||||
| Deferred Income Taxes | 1,093.4 | 1,064.4 | ||||||||||||
| Regulatory Liabilities and Deferred Investment Tax Credits | 2,251.4 | 2,041.9 | ||||||||||||
| Asset Retirement Obligations | 1,849.3 | 1,812.9 | ||||||||||||
| Obligations Under Operating Leases | 91.9 | 135.9 | ||||||||||||
| Deferred Credits and Other Noncurrent Liabilities | 98.6 | 69.2 | ||||||||||||
| TOTAL NONCURRENT LIABILITIES | 8,499.4 | 7,784.6 | ||||||||||||
| TOTAL LIABILITIES | 9,219.6 | 8,889.1 | ||||||||||||
| Rate Matters (Note 4) | ||||||||||||||
| Commitments and Contingencies (Note 5) | ||||||||||||||
| COMMON SHAREHOLDER’S EQUITY | ||||||||||||||
|
Common Stock – No Par Value:
|
||||||||||||||
|
Authorized – 2,500,000 Shares
|
||||||||||||||
|
Outstanding – 1,400,000 Shares
|
56.6 | 56.6 | ||||||||||||
| Paid-in Capital | 980.9 | 980.9 | ||||||||||||
| Retained Earnings | 1,746.7 | 1,718.7 | ||||||||||||
| Accumulated Other Comprehensive Income (Loss) | (6.2) | (7.0) | ||||||||||||
| TOTAL COMMON SHAREHOLDER’S EQUITY | 2,778.0 | 2,749.2 | ||||||||||||
| TOTAL LIABILITIES AND COMMON SHAREHOLDER’S EQUITY | $ | 11,997.6 | $ | 11,638.3 | ||||||||||
| Three Months Ended | Six Months Ended | ||||||||||||||||||||||
| June 30, | June 30, | ||||||||||||||||||||||
| 2021 | 2020 | 2021 | 2020 | ||||||||||||||||||||
| (in millions of KWhs) | |||||||||||||||||||||||
| Retail: | |||||||||||||||||||||||
| Residential | 3,059 | 3,141 | 7,165 | 6,975 | |||||||||||||||||||
| Commercial | 3,668 | 3,157 | 7,170 | 6,673 | |||||||||||||||||||
| Industrial | 3,735 | 2,932 | 7,136 | 6,475 | |||||||||||||||||||
| Miscellaneous | 26 | 30 | 55 | 60 | |||||||||||||||||||
| Total Retail (a) | 10,488 | 9,260 | 21,526 | 20,183 | |||||||||||||||||||
| Wholesale (b) | 445 | 455 | 1,048 | 845 | |||||||||||||||||||
| Total KWhs | 10,933 | 9,715 | 22,574 | 21,028 | |||||||||||||||||||
| Three Months Ended | Six Months Ended | ||||||||||||||||||||||
| June 30, | June 30, | ||||||||||||||||||||||
| 2021 | 2020 | 2021 | 2020 | ||||||||||||||||||||
| (in degree days) | |||||||||||||||||||||||
| Actual – Heating (a) | 215 | 292 | 1,992 | 1,765 | |||||||||||||||||||
| Normal – Heating (b) | 183 | 182 | 2,066 | 2,080 | |||||||||||||||||||
| Actual – Cooling (c) | 361 | 314 | 361 | 317 | |||||||||||||||||||
| Normal – Cooling (b) | 304 | 301 | 307 | 304 | |||||||||||||||||||
| Ohio Power Company and Subsidiaries | ||||||||
| Reconciliation of Second Quarter of 2020 to Second Quarter of 2021 | ||||||||
| Net Income | ||||||||
| (in millions) | ||||||||
| Second Quarter of 2020 | $ | 80.9 | ||||||
| Changes in Gross Margin: | ||||||||
| Retail Margins | 45.8 | |||||||
| Margins from Off-system Sales | (13.3) | |||||||
| Transmission Revenues | 0.5 | |||||||
| Other Revenues | 7.7 | |||||||
| Total Change in Gross Margin | 40.7 | |||||||
| Changes in Expenses and Other: | ||||||||
| Other Operation and Maintenance | (18.1) | |||||||
| Depreciation and Amortization | (16.8) | |||||||
| Taxes Other Than Income Taxes | (10.9) | |||||||
| Interest Income | (0.1) | |||||||
| Carrying Costs Income | (0.1) | |||||||
| Allowance for Equity Funds Used During Construction | 0.1 | |||||||
| Non-Service Cost Components of Net Periodic Benefit Cost | (0.1) | |||||||
| Interest Expense | (1.6) | |||||||
| Total Change in Expenses and Other | (47.6) | |||||||
| Income Tax Expense | — | |||||||
| Second Quarter of 2021 | $ | 74.0 | ||||||
| Ohio Power Company and Subsidiaries | ||||||||
| Reconciliation of Six Months Ended June 30, 2020 to Six Months Ended June 30, 2021 | ||||||||
| Net Income | ||||||||
| (in millions) | ||||||||
| Six Months Ended June 30, 2020 | $ | 156.0 | ||||||
| Changes in Gross Margin: | ||||||||
| Retail Margins | 76.9 | |||||||
| Margins from Off-system Sales | (27.3) | |||||||
| Transmission Revenues | (2.3) | |||||||
| Other Revenues | 13.1 | |||||||
| Total Change in Gross Margin | 60.4 | |||||||
| Changes in Expenses and Other: | ||||||||
| Other Operation and Maintenance | (32.5) | |||||||
| Depreciation and Amortization | (21.4) | |||||||
| Taxes Other Than Income Taxes | (20.2) | |||||||
| Interest Income | (0.1) | |||||||
| Allowance for Equity Funds Used During Construction | 0.9 | |||||||
| Non-Service Cost Components of Net Periodic Benefit Cost | (0.2) | |||||||
| Interest Expense | (4.3) | |||||||
| Total Change in Expenses and Other | (77.8) | |||||||
| Income Tax Expense | 3.6 | |||||||
| Six Months Ended June 30, 2021 | $ | 142.2 | ||||||
| Three Months Ended | Six Months Ended | |||||||||||||||||||||||||
| June 30, | June 30, | |||||||||||||||||||||||||
| 2021 | 2020 | 2021 | 2020 | |||||||||||||||||||||||
| REVENUES | ||||||||||||||||||||||||||
| Electricity, Transmission and Distribution | $ | 690.1 | $ | 621.8 | $ | 1,406.8 | $ | 1,301.0 | ||||||||||||||||||
| Sales to AEP Affiliates | 12.8 | 16.3 | 17.6 | 24.7 | ||||||||||||||||||||||
| Other Revenues | 2.0 | 2.3 | 4.4 | 5.0 | ||||||||||||||||||||||
| TOTAL REVENUES | 704.9 | 640.4 | 1,428.8 | 1,330.7 | ||||||||||||||||||||||
| EXPENSES | ||||||||||||||||||||||||||
| Purchased Electricity for Resale | 153.6 | 113.9 | 328.9 | 263.0 | ||||||||||||||||||||||
| Purchased Electricity from AEP Affiliates | 14.4 | 30.3 | 44.5 | 72.7 | ||||||||||||||||||||||
| Other Operation | 193.2 | 186.6 | 377.8 | 363.9 | ||||||||||||||||||||||
| Maintenance | 38.4 | 26.9 | 77.1 | 58.5 | ||||||||||||||||||||||
| Depreciation and Amortization | 76.6 | 59.8 | 151.7 | 130.3 | ||||||||||||||||||||||
| Taxes Other Than Income Taxes | 118.9 | 108.0 | 240.2 | 220.0 | ||||||||||||||||||||||
| TOTAL EXPENSES | 595.1 | 525.5 | 1,220.2 | 1,108.4 | ||||||||||||||||||||||
| OPERATING INCOME | 109.8 | 114.9 | 208.6 | 222.3 | ||||||||||||||||||||||
| Other Income (Expense): | ||||||||||||||||||||||||||
| Interest Income | 0.1 | 0.2 | 0.3 | 0.4 | ||||||||||||||||||||||
| Carrying Costs Income | 0.5 | 0.6 | 1.0 | 1.0 | ||||||||||||||||||||||
| Allowance for Equity Funds Used During Construction | 2.9 | 2.8 | 5.6 | 4.7 | ||||||||||||||||||||||
| Non-Service Cost Components of Net Periodic Benefit Cost | 3.6 | 3.7 | 7.3 | 7.5 | ||||||||||||||||||||||
| Interest Expense | (31.7) | (30.1) | (63.3) | (59.0) | ||||||||||||||||||||||
| INCOME BEFORE INCOME TAX EXPENSE | 85.2 | 92.1 | 159.5 | 176.9 | ||||||||||||||||||||||
| Income Tax Expense | 11.2 | 11.2 | 17.3 | 20.9 | ||||||||||||||||||||||
| NET INCOME | $ | 74.0 | $ | 80.9 | $ | 142.2 | $ | 156.0 | ||||||||||||||||||
| The common stock of OPCo is wholly-owned by Parent. | ||||||||||||||||||||||||||
| Three Months Ended | Six Months Ended | |||||||||||||||||||||||||
| June 30, | June 30, | |||||||||||||||||||||||||
| 2021 | 2020 | 2021 | 2020 | |||||||||||||||||||||||
| Net Income | $ | 74.0 | $ | 80.9 | $ | 142.2 | $ | 156.0 | ||||||||||||||||||
| OTHER COMPREHENSIVE LOSS, NET OF TAXES | ||||||||||||||||||||||||||
|
Cash Flow Hedges, Net of Tax of $0 and $0 for the Three Months Ended June 30, 2021 and 2020, Respectively, and $0 and $0 for the Six Months Ended June 30, 2021 and 2020, Respectively
|
— | — | — | — | ||||||||||||||||||||||
| TOTAL COMPREHENSIVE INCOME | $ | 74.0 | $ | 80.9 | $ | 142.2 | $ | 156.0 | ||||||||||||||||||
|
Common
Stock |
Paid-in
Capital |
Retained
Earnings |
Accumulated
Other Comprehensive Income (Loss) |
Total | ||||||||||||||||||||||||||||
|
TOTAL COMMON SHAREHOLDER’S EQUITY – DECEMBER 31, 2019
|
$ | 321.2 | $ | 838.8 | $ | 1,348.5 | $ | — | $ | 2,508.5 | ||||||||||||||||||||||
| Common Stock Dividends | (21.9) | (21.9) | ||||||||||||||||||||||||||||||
| ASU 2016-13 Adoption | 0.3 | 0.3 | ||||||||||||||||||||||||||||||
| Net Income | 75.1 | 75.1 | ||||||||||||||||||||||||||||||
|
TOTAL COMMON SHAREHOLDER’S EQUITY – MARCH 31, 2020
|
321.2 | 838.8 | 1,402.0 | — | 2,562.0 | |||||||||||||||||||||||||||
| Common Stock Dividends | (21.9) | (21.9) | ||||||||||||||||||||||||||||||
| Net Income | 80.9 | 80.9 | ||||||||||||||||||||||||||||||
|
TOTAL COMMON SHAREHOLDER’S EQUITY – JUNE 30, 2020
|
$ | 321.2 | $ | 838.8 | $ | 1,461.0 | $ | — | $ | 2,621.0 | ||||||||||||||||||||||
|
TOTAL COMMON SHAREHOLDER’S EQUITY – DECEMBER 31, 2020
|
$ | 321.2 | $ | 838.8 | $ | 1,532.7 | $ | — | $ | 2,692.7 | ||||||||||||||||||||||
| Common Stock Dividends | (21.9) | (21.9) | ||||||||||||||||||||||||||||||
| Net Income | 68.2 | 68.2 | ||||||||||||||||||||||||||||||
|
TOTAL COMMON SHAREHOLDER’S EQUITY – MARCH 31, 2021
|
321.2 | 838.8 | 1,579.0 | — | 2,739.0 | |||||||||||||||||||||||||||
| Common Stock Dividends | (21.9) | (21.9) | ||||||||||||||||||||||||||||||
| Net Income | 74.0 | 74.0 | ||||||||||||||||||||||||||||||
|
TOTAL COMMON SHAREHOLDER’S EQUITY – JUNE 30, 2021
|
$ | 321.2 | $ | 838.8 | $ | 1,631.1 | $ | — | $ | 2,791.1 | ||||||||||||||||||||||
| June 30, | December 31, | |||||||||||||
| 2021 | 2020 | |||||||||||||
| CURRENT ASSETS | ||||||||||||||
| Cash and Cash Equivalents | $ | 5.8 | $ | 7.4 | ||||||||||
| Accounts Receivable: | ||||||||||||||
| Customers | 86.1 | 50.0 | ||||||||||||
| Affiliated Companies | 74.7 | 65.1 | ||||||||||||
| Accrued Unbilled Revenues | 16.4 | 14.8 | ||||||||||||
| Miscellaneous | 7.1 | 3.9 | ||||||||||||
| Allowance for Uncollectible Accounts | (0.7) | (0.6) | ||||||||||||
| Total Accounts Receivable | 183.6 | 133.2 | ||||||||||||
| Materials and Supplies | 68.8 | 66.9 | ||||||||||||
| Renewable Energy Credits | 31.7 | 29.5 | ||||||||||||
| Prepayments and Other Current Assets | 23.7 | 19.3 | ||||||||||||
| TOTAL CURRENT ASSETS | 313.6 | 256.3 | ||||||||||||
| PROPERTY, PLANT AND EQUIPMENT | ||||||||||||||
| Electric: | ||||||||||||||
| Transmission | 2,901.5 | 2,831.9 | ||||||||||||
| Distribution | 5,889.8 | 5,708.3 | ||||||||||||
| Other Property, Plant and Equipment | 959.8 | 899.6 | ||||||||||||
| Construction Work in Progress | 341.1 | 362.3 | ||||||||||||
| Total Property, Plant and Equipment | 10,092.2 | 9,802.1 | ||||||||||||
| Accumulated Depreciation and Amortization | 2,416.0 | 2,350.0 | ||||||||||||
| TOTAL PROPERTY, PLANT AND EQUIPMENT – NET | 7,676.2 | 7,452.1 | ||||||||||||
| OTHER NONCURRENT ASSETS | ||||||||||||||
| Regulatory Assets | 399.7 | 385.8 | ||||||||||||
| Operating Lease Assets | 86.6 | 92.0 | ||||||||||||
| Deferred Charges and Other Noncurrent Assets | 383.9 | 524.2 | ||||||||||||
| TOTAL OTHER NONCURRENT ASSETS | 870.2 | 1,002.0 | ||||||||||||
| TOTAL ASSETS | $ | 8,860.0 | $ | 8,710.4 | ||||||||||
| June 30, | December 31, | |||||||||||||
| 2021 | 2020 | |||||||||||||
| (in millions) | ||||||||||||||
| CURRENT LIABILITIES | ||||||||||||||
| Advances from Affiliates | $ | 56.3 | $ | 259.2 | ||||||||||
| Accounts Payable: | ||||||||||||||
| General | 186.9 | 181.0 | ||||||||||||
| Affiliated Companies | 95.6 | 118.4 | ||||||||||||
| Long-term Debt Due Within One Year – Nonaffiliated | 500.1 | 500.1 | ||||||||||||
| Risk Management Liabilities | 7.3 | 8.7 | ||||||||||||
| Customer Deposits | 76.7 | 55.1 | ||||||||||||
| Accrued Taxes | 413.9 | 631.0 | ||||||||||||
| Obligations Under Operating Leases | 13.1 | 13.1 | ||||||||||||
| Other Current Liabilities | 131.0 | 139.6 | ||||||||||||
| TOTAL CURRENT LIABILITIES | 1,480.9 | 1,906.2 | ||||||||||||
| NONCURRENT LIABILITIES | ||||||||||||||
| Long-term Debt – Nonaffiliated | 2,376.7 | 1,930.1 | ||||||||||||
| Long-term Risk Management Liabilities | 98.2 | 101.6 | ||||||||||||
| Deferred Income Taxes | 994.5 | 955.1 | ||||||||||||
| Regulatory Liabilities and Deferred Investment Tax Credits | 999.3 | 1,005.2 | ||||||||||||
| Obligations Under Operating Leases | 74.1 | 79.5 | ||||||||||||
| Deferred Credits and Other Noncurrent Liabilities | 45.2 | 40.0 | ||||||||||||
| TOTAL NONCURRENT LIABILITIES | 4,588.0 | 4,111.5 | ||||||||||||
| TOTAL LIABILITIES | 6,068.9 | 6,017.7 | ||||||||||||
| Rate Matters (Note 4) | ||||||||||||||
| Commitments and Contingencies (Note 5) | ||||||||||||||
| COMMON SHAREHOLDER’S EQUITY | ||||||||||||||
|
Common Stock –No Par Value:
|
||||||||||||||
|
Authorized – 40,000,000 Shares
|
||||||||||||||
|
Outstanding – 27,952,473 Shares
|
321.2 | 321.2 | ||||||||||||
| Paid-in Capital | 838.8 | 838.8 | ||||||||||||
| Retained Earnings | 1,631.1 | 1,532.7 | ||||||||||||
| TOTAL COMMON SHAREHOLDER’S EQUITY | 2,791.1 | 2,692.7 | ||||||||||||
| TOTAL LIABILITIES AND COMMON SHAREHOLDER’S EQUITY | $ | 8,860.0 | $ | 8,710.4 | ||||||||||
| Three Months Ended | Six Months Ended | ||||||||||||||||||||||
| June 30, | June 30, | ||||||||||||||||||||||
| 2021 | 2020 | 2021 | 2020 | ||||||||||||||||||||
| (in millions of KWhs) | |||||||||||||||||||||||
| Retail: | |||||||||||||||||||||||
| Residential | 1,312 | 1,457 | 2,889 | 2,819 | |||||||||||||||||||
| Commercial | 1,255 | 1,136 | 2,305 | 2,191 | |||||||||||||||||||
| Industrial | 1,513 | 1,401 | 2,817 | 2,838 | |||||||||||||||||||
| Miscellaneous | 310 | 293 | 580 | 565 | |||||||||||||||||||
| Total Retail | 4,390 | 4,287 | 8,591 | 8,413 | |||||||||||||||||||
| Wholesale | 121 | 78 | 188 | 131 | |||||||||||||||||||
| Total KWhs | 4,511 | 4,365 | 8,779 | 8,544 | |||||||||||||||||||
| Three Months Ended | Six Months Ended | ||||||||||||||||||||||
| June 30, | June 30, | ||||||||||||||||||||||
| 2021 | 2020 | 2021 | 2020 | ||||||||||||||||||||
| (in degree days) | |||||||||||||||||||||||
| Actual – Heating (a) | 45 | 74 | 1,195 | 873 | |||||||||||||||||||
| Normal – Heating (b) | 44 | 43 | 1,077 | 1,077 | |||||||||||||||||||
| Actual – Cooling (c) | 577 | 672 | 584 | 705 | |||||||||||||||||||
| Normal – Cooling (b) | 658 | 659 | 675 | 676 | |||||||||||||||||||
| Public Service Company of Oklahoma | ||||||||
| Reconciliation of Second Quarter of 2020 to Second Quarter of 2021 | ||||||||
| Net Income | ||||||||
| (in millions) | ||||||||
| Second Quarter of 2020 | $ | 46.4 | ||||||
| Changes in Gross Margin: | ||||||||
| Retail Margins (a) | 13.1 | |||||||
| Margins from Off-system Sales | (0.2) | |||||||
| Transmission Revenues | 2.2 | |||||||
| Other Revenues | (5.8) | |||||||
| Total Change in Gross Margin | 9.3 | |||||||
| Changes in Expenses and Other: | ||||||||
| Other Operation and Maintenance | (9.6) | |||||||
| Depreciation and Amortization | (5.2) | |||||||
| Taxes Other Than Income Taxes | (0.1) | |||||||
| Interest Income | 1.6 | |||||||
| Allowance for Equity Funds Used During Construction | (0.3) | |||||||
| Non-Service Cost Components of Net Periodic Benefit Cost | 0.1 | |||||||
| Interest Expense | 1.4 | |||||||
| Total Change in Expenses and Other | (12.1) | |||||||
| Income Tax Expense | 2.5 | |||||||
| Second Quarter of 2021 | $ | 46.1 | ||||||
| Public Service Company of Oklahoma | ||||||||
| Reconciliation of Six Months Ended June 30, 2020 to Six Months Ended June 30, 2021 | ||||||||
| Net Income | ||||||||
| (in millions) | ||||||||
| Six Months Ended June 30, 2020 | $ | 36.1 | ||||||
| Changes in Gross Margin: | ||||||||
| Retail Margins (a) | 17.2 | |||||||
| Margin from Off-system Sales | (0.3) | |||||||
| Transmission Revenues | 3.2 | |||||||
| Other Revenues | (5.6) | |||||||
| Total Change in Gross Margin | 14.5 | |||||||
| Changes in Expenses and Other: | ||||||||
| Other Operation and Maintenance | (1.5) | |||||||
| Depreciation and Amortization | (10.4) | |||||||
| Taxes Other Than Income Taxes | (1.3) | |||||||
| Interest Income | 1.6 | |||||||
| Allowance for Equity Funds Used During Construction | (0.9) | |||||||
| Non-Service Cost Components of Net Periodic Benefit Cost | 0.1 | |||||||
| Interest Expense | 2.8 | |||||||
| Total Change in Expenses and Other | (9.6) | |||||||
| Income Tax Expense | 2.4 | |||||||
| Six Months Ended June 30, 2021 | $ | 43.4 | ||||||
| Three Months Ended | Six Months Ended | |||||||||||||||||||||||||
| June 30, | June 30, | |||||||||||||||||||||||||
| 2021 | 2020 | 2021 | 2020 | |||||||||||||||||||||||
| REVENUES | ||||||||||||||||||||||||||
| Electric Generation, Transmission and Distribution | $ | 342.5 | $ | 301.1 | $ | 636.1 | $ | 596.5 | ||||||||||||||||||
| Sales to AEP Affiliates | 1.1 | 1.3 | 2.1 | 2.4 | ||||||||||||||||||||||
| Other Revenues | 0.9 | 6.2 | 2.4 | 7.0 | ||||||||||||||||||||||
| TOTAL REVENUES | 344.5 | 308.6 | 640.6 | 605.9 | ||||||||||||||||||||||
| EXPENSES | ||||||||||||||||||||||||||
| Purchased Electricity, Fuel and Other Consumables Used for Electric Generation | 124.0 | 97.4 | 244.9 | 224.7 | ||||||||||||||||||||||
| Other Operation | 81.3 | 69.6 | 160.4 | 156.8 | ||||||||||||||||||||||
| Maintenance | 22.5 | 24.6 | 46.9 | 49.0 | ||||||||||||||||||||||
| Depreciation and Amortization | 50.2 | 45.0 | 100.1 | 89.7 | ||||||||||||||||||||||
| Taxes Other Than Income Taxes | 12.5 | 12.4 | 25.0 | 23.7 | ||||||||||||||||||||||
| TOTAL EXPENSES | 290.5 | 249.0 | 577.3 | 543.9 | ||||||||||||||||||||||
| OPERATING INCOME | 54.0 | 59.6 | 63.3 | 62.0 | ||||||||||||||||||||||
| Other Income (Expense): | ||||||||||||||||||||||||||
| Interest Income | 1.6 | — | 1.7 | 0.1 | ||||||||||||||||||||||
| Allowance for Equity Funds Used During Construction | 0.6 | 0.9 | 1.0 | 1.9 | ||||||||||||||||||||||
| Non-Service Cost Components of Net Periodic Benefit Cost | 2.2 | 2.1 | 4.3 | 4.2 | ||||||||||||||||||||||
| Interest Expense | (14.1) | (15.5) | (28.5) | (31.3) | ||||||||||||||||||||||
| INCOME BEFORE INCOME TAX EXPENSE (BENEFIT) | 44.3 | 47.1 | 41.8 | 36.9 | ||||||||||||||||||||||
| Income Tax Expense (Benefit) | (1.8) | 0.7 | (1.6) | 0.8 | ||||||||||||||||||||||
| NET INCOME | $ | 46.1 | $ | 46.4 | $ | 43.4 | $ | 36.1 | ||||||||||||||||||
| The common stock of PSO is wholly-owned by Parent. | ||||||||||||||||||||||||||
| Three Months Ended | Six Months Ended | |||||||||||||||||||||||||
| June 30, | June 30, | |||||||||||||||||||||||||
| 2021 | 2020 | 2021 | 2020 | |||||||||||||||||||||||
| Net Income | $ | 46.1 | $ | 46.4 | $ | 43.4 | $ | 36.1 | ||||||||||||||||||
| OTHER COMPREHENSIVE LOSS, NET OF TAXES | ||||||||||||||||||||||||||
|
Cash Flow Hedges, Net of Tax of $0 and $(0.1) for the Three Months Ended June 30, 2021 and 2020, Respectively, and $0 and $(0.2) for the Six Months Ended June 30, 2021 and 2020, Respectively.
|
— | (0.3) | (0.1) | (0.5) | ||||||||||||||||||||||
| TOTAL COMPREHENSIVE INCOME | $ | 46.1 | $ | 46.1 | $ | 43.3 | $ | 35.6 | ||||||||||||||||||
|
Common
Stock |
Paid-in
Capital |
Retained
Earnings |
Accumulated
Other Comprehensive Income (Loss) |
Total | ||||||||||||||||||||||||||||
| TOTAL COMMON SHAREHOLDER’S EQUITY – DECEMBER 31, 2019 | $ | 157.2 | $ | 364.0 | $ | 851.0 | $ | 1.1 | $ | 1,373.3 | ||||||||||||||||||||||
| ASU 2016-13 Adoption | 0.3 | 0.3 | ||||||||||||||||||||||||||||||
| Net Loss | (10.3) | (10.3) | ||||||||||||||||||||||||||||||
| Other Comprehensive Loss | (0.2) | (0.2) | ||||||||||||||||||||||||||||||
| TOTAL COMMON SHAREHOLDER’S EQUITY – MARCH 31, 2020 | 157.2 | 364.0 | 841.0 | 0.9 | 1,363.1 | |||||||||||||||||||||||||||
| Net Income | 46.4 | 46.4 | ||||||||||||||||||||||||||||||
| Other Comprehensive Loss | (0.3) | (0.3) | ||||||||||||||||||||||||||||||
| TOTAL COMMON SHAREHOLDER’S EQUITY – JUNE 30, 2020 | $ | 157.2 | $ | 364.0 | $ | 887.4 | $ | 0.6 | $ | 1,409.2 | ||||||||||||||||||||||
| TOTAL COMMON SHAREHOLDER’S EQUITY – DECEMBER 31, 2020 | $ | 157.2 | $ | 414.0 | $ | 974.3 | $ | 0.1 | $ | 1,545.6 | ||||||||||||||||||||||
| Capital Contribution from Parent | 425.0 | 425.0 | ||||||||||||||||||||||||||||||
| Net Loss | (2.7) | (2.7) | ||||||||||||||||||||||||||||||
| Other Comprehensive Loss | (0.1) | (0.1) | ||||||||||||||||||||||||||||||
| TOTAL COMMON SHAREHOLDER’S EQUITY – MARCH 31, 2021 | 157.2 | 839.0 | 971.6 | — | 1,967.8 | |||||||||||||||||||||||||||
| Capital Contribution from Parent | 200.0 | 200.0 | ||||||||||||||||||||||||||||||
| Common Stock Dividends | (10.0) | (10.0) | ||||||||||||||||||||||||||||||
| Net Income | 46.1 | 46.1 | ||||||||||||||||||||||||||||||
| TOTAL COMMON SHAREHOLDER’S EQUITY – JUNE 30, 2021 | $ | 157.2 | $ | 1,039.0 | $ | 1,007.7 | $ | — | $ | 2,203.9 | ||||||||||||||||||||||
| June 30, | December 31, | |||||||||||||
| 2021 | 2020 | |||||||||||||
| CURRENT ASSETS | ||||||||||||||
| Cash and Cash Equivalents | $ | 2.6 | $ | 2.6 | ||||||||||
| Accounts Receivable: | ||||||||||||||
| Customers | 38.6 | 30.8 | ||||||||||||
| Affiliated Companies | 31.9 | 15.6 | ||||||||||||
| Miscellaneous | — | 2.0 | ||||||||||||
| Total Accounts Receivable | 70.5 | 48.4 | ||||||||||||
| Fuel | 10.6 | 17.9 | ||||||||||||
| Materials and Supplies | 52.8 | 54.0 | ||||||||||||
| Risk Management Assets | 23.0 | 10.3 | ||||||||||||
| Accrued Tax Benefits | 0.2 | 10.9 | ||||||||||||
| Regulatory Asset for Under-Recovered Fuel Costs | 84.8 | 30.1 | ||||||||||||
| Prepayments and Other Current Assets | 11.5 | 7.1 | ||||||||||||
| TOTAL CURRENT ASSETS | 256.0 | 181.3 | ||||||||||||
| PROPERTY, PLANT AND EQUIPMENT | ||||||||||||||
| Electric: | ||||||||||||||
| Generation | 1,609.3 | 1,480.7 | ||||||||||||
| Transmission | 1,088.1 | 1,069.9 | ||||||||||||
| Distribution | 2,927.2 | 2,853.0 | ||||||||||||
| Other Property, Plant and Equipment | 420.2 | 393.3 | ||||||||||||
| Construction Work in Progress | 106.9 | 128.7 | ||||||||||||
| Total Property, Plant and Equipment | 6,151.7 | 5,925.6 | ||||||||||||
| Accumulated Depreciation and Amortization | 1,653.2 | 1,605.6 | ||||||||||||
| TOTAL PROPERTY, PLANT AND EQUIPMENT – NET | 4,498.5 | 4,320.0 | ||||||||||||
| OTHER NONCURRENT ASSETS | ||||||||||||||
| Regulatory Assets | 1,054.0 | 375.0 | ||||||||||||
| Employee Benefits and Pension Assets | 66.1 | 65.8 | ||||||||||||
| Operating Lease Assets | 54.1 | 42.6 | ||||||||||||
| Deferred Charges and Other Noncurrent Assets | 29.7 | 6.0 | ||||||||||||
| TOTAL OTHER NONCURRENT ASSETS | 1,203.9 | 489.4 | ||||||||||||
| TOTAL ASSETS | $ | 5,958.4 | $ | 4,990.7 | ||||||||||
| June 30, | December 31, | |||||||||||||
| 2021 | 2020 | |||||||||||||
| (in millions) | ||||||||||||||
| CURRENT LIABILITIES | ||||||||||||||
| Advances from Affiliates | $ | 135.1 | $ | 155.4 | ||||||||||
| Accounts Payable: | ||||||||||||||
| General | 117.1 | 107.0 | ||||||||||||
| Affiliated Companies | 41.6 | 43.4 | ||||||||||||
| Long-term Debt Due Within One Year – Nonaffiliated | 0.5 | 0.5 | ||||||||||||
| Customer Deposits | 54.1 | 54.8 | ||||||||||||
| Accrued Taxes | 75.3 | 26.8 | ||||||||||||
| Obligations Under Operating Leases | 6.7 | 6.5 | ||||||||||||
| Other Current Liabilities | 61.8 | 84.2 | ||||||||||||
| TOTAL CURRENT LIABILITIES | 492.2 | 478.6 | ||||||||||||
| NONCURRENT LIABILITIES | ||||||||||||||
| Long-term Debt – Nonaffiliated | 1,623.3 | 1,373.3 | ||||||||||||
| Deferred Income Taxes | 668.4 | 688.5 | ||||||||||||
| Regulatory Liabilities and Deferred Investment Tax Credits | 852.6 | 802.2 | ||||||||||||
| Asset Retirement Obligations | 49.7 | 45.7 | ||||||||||||
| Obligations Under Operating Leases | 47.5 | 36.2 | ||||||||||||
| Deferred Credits and Other Noncurrent Liabilities | 20.8 | 20.6 | ||||||||||||
| TOTAL NONCURRENT LIABILITIES | 3,262.3 | 2,966.5 | ||||||||||||
| TOTAL LIABILITIES | 3,754.5 | 3,445.1 | ||||||||||||
| Rate Matters (Note 4) | ||||||||||||||
| Commitments and Contingencies (Note 5) | ||||||||||||||
| COMMON SHAREHOLDER’S EQUITY | ||||||||||||||
|
Common Stock – Par Value – $15 Per Share:
|
||||||||||||||
|
Authorized – 11,000,000 Shares
|
||||||||||||||
|
Issued – 10,482,000 Shares
|
||||||||||||||
|
Outstanding – 9,013,000 Shares
|
157.2 | 157.2 | ||||||||||||
| Paid-in Capital | 1,039.0 | 414.0 | ||||||||||||
| Retained Earnings | 1,007.7 | 974.3 | ||||||||||||
| Accumulated Other Comprehensive Income (Loss) | — | 0.1 | ||||||||||||
| TOTAL COMMON SHAREHOLDER’S EQUITY | 2,203.9 | 1,545.6 | ||||||||||||
| TOTAL LIABILITIES AND COMMON SHAREHOLDER’S EQUITY | $ | 5,958.4 | $ | 4,990.7 | ||||||||||
| Three Months Ended | Six Months Ended | ||||||||||||||||||||||
| June 30, | June 30, | ||||||||||||||||||||||
| 2021 | 2020 | 2021 | 2020 | ||||||||||||||||||||
| (in millions of KWhs) | |||||||||||||||||||||||
| Retail: | |||||||||||||||||||||||
| Residential | 1,274 | 1,346 | 2,974 | 2,752 | |||||||||||||||||||
| Commercial | 1,396 | 1,236 | 2,605 | 2,464 | |||||||||||||||||||
| Industrial | 1,294 | 1,187 | 2,265 | 2,429 | |||||||||||||||||||
| Miscellaneous | 21 | 20 | 39 | 40 | |||||||||||||||||||
| Total Retail | 3,985 | 3,789 | 7,883 | 7,685 | |||||||||||||||||||
| Wholesale | 1,392 | 1,184 | 2,933 | 2,510 | |||||||||||||||||||
| Total KWhs | 5,377 | 4,973 | 10,816 | 10,195 | |||||||||||||||||||
| Three Months Ended | Six Months Ended | ||||||||||||||||||||||
| June 30, | June 30, | ||||||||||||||||||||||
| 2021 | 2020 | 2021 | 2020 | ||||||||||||||||||||
| (in degree days) | |||||||||||||||||||||||
| Actual – Heating (a) | 26 | 25 | 789 | 522 | |||||||||||||||||||
| Normal – Heating (b) | 25 | 25 | 722 | 723 | |||||||||||||||||||
| Actual – Cooling (c) | 728 | 674 | 773 | 743 | |||||||||||||||||||
| Normal – Cooling (b) | 739 | 741 | 779 | 780 | |||||||||||||||||||
| Reconciliation of Second Quarter of 2020 to Second Quarter of 2021 | ||||||||
| Earnings Attributable to SWEPCo Common Shareholder | ||||||||
| (in millions) | ||||||||
| Second Quarter of 2020 | $ | 58.8 | ||||||
| Changes in Gross Margin: | ||||||||
| Retail Margins (a) | 5.9 | |||||||
| Margins from Off-system Sales | 1.0 | |||||||
| Transmission Revenues | (4.9) | |||||||
| Other Revenues | 1.2 | |||||||
| Total Change in Gross Margin | 3.2 | |||||||
| Changes in Expenses and Other: | ||||||||
| Other Operation and Maintenance | (17.7) | |||||||
| Depreciation and Amortization | (4.9) | |||||||
| Taxes Other Than Income Taxes | (5.1) | |||||||
| Interest Income | 2.6 | |||||||
| Allowance for Equity Funds Used During Construction | 1.0 | |||||||
| Non-Service Cost Components of Net Periodic Benefit Cost | (0.1) | |||||||
| Interest Expense | (1.7) | |||||||
| Total Change in Expenses and Other | (25.9) | |||||||
| Income Tax Expense | 0.8 | |||||||
| Equity Earnings of Unconsolidated Subsidiary | 0.1 | |||||||
| Net Income Attributable to Noncontrolling Interest | (0.2) | |||||||
| Second Quarter of 2021 | $ | 36.8 | ||||||
| Reconciliation of Six Months Ended June 30, 2020 to Six Months Ended June 30, 2021 | ||||||||
| Earnings Attributable to SWEPCo Common Shareholder | ||||||||
| (in millions) | ||||||||
| Six Months Ended June 30, 2020 | $ | 73.9 | ||||||
| Changes in Gross Margin: | ||||||||
| Retail Margins (a) | 46.1 | |||||||
| Margins from Off-system Sales | 21.2 | |||||||
| Transmission Revenues | (2.7) | |||||||
| Other Revenues | 1.2 | |||||||
| Total Change in Gross Margin | 65.8 | |||||||
| Changes in Expenses and Other: | ||||||||
| Other Operation and Maintenance | (16.0) | |||||||
| Depreciation and Amortization | (7.2) | |||||||
| Taxes Other Than Income Taxes | (9.8) | |||||||
| Interest Income | 3.0 | |||||||
| Allowance for Equity Funds Used During Construction | 1.7 | |||||||
| Non-Service Cost Components of Net Periodic Benefit Cost | (0.1) | |||||||
| Interest Expense | (0.9) | |||||||
| Total Change in Expenses and Other | (29.3) | |||||||
| Income Tax Expense | (11.0) | |||||||
| Net Income Attributable to Noncontrolling Interest | (0.2) | |||||||
| Six Months Ended June 30, 2021 | $ | 99.2 | ||||||
| Three Months Ended | Six Months Ended | |||||||||||||||||||||||||
| June 30, | June 30, | |||||||||||||||||||||||||
| 2021 | 2020 | 2021 | 2020 | |||||||||||||||||||||||
| REVENUES | ||||||||||||||||||||||||||
| Electric Generation, Transmission and Distribution | $ | 418.8 | $ | 401.0 | $ | 1,026.5 | $ | 778.6 | ||||||||||||||||||
| Sales to AEP Affiliates | 10.9 | 13.1 | 18.7 | 20.6 | ||||||||||||||||||||||
| Other Revenues | 0.4 | 0.9 | 1.0 | 1.7 | ||||||||||||||||||||||
| TOTAL REVENUES | 430.1 | 415.0 | 1,046.2 | 800.9 | ||||||||||||||||||||||
| EXPENSES | ||||||||||||||||||||||||||
| Purchased Electricity, Fuel and Other Consumables Used for Electric Generation | 138.5 | 126.6 | 438.3 | 258.8 | ||||||||||||||||||||||
| Other Operation | 88.6 | 70.0 | 178.9 | 162.2 | ||||||||||||||||||||||
| Maintenance | 31.8 | 32.7 | 65.8 | 66.5 | ||||||||||||||||||||||
| Depreciation and Amortization | 73.0 | 68.1 | 142.6 | 135.4 | ||||||||||||||||||||||
| Taxes Other Than Income Taxes | 30.1 | 25.0 | 60.1 | 50.3 | ||||||||||||||||||||||
| TOTAL EXPENSES | 362.0 | 322.4 | 885.7 | 673.2 | ||||||||||||||||||||||
| OPERATING INCOME | 68.1 | 92.6 | 160.5 | 127.7 | ||||||||||||||||||||||
| Other Income (Expense): | ||||||||||||||||||||||||||
| Interest Income | 3.1 | 0.5 | 4.1 | 1.1 | ||||||||||||||||||||||
| Allowance for Equity Funds Used During Construction | 1.9 | 0.9 | 4.0 | 2.3 | ||||||||||||||||||||||
| Non-Service Cost Components of Net Periodic Benefit Cost | 2.0 | 2.1 | 4.1 | 4.2 | ||||||||||||||||||||||
| Interest Expense | (31.4) | (29.7) | (60.7) | (59.8) | ||||||||||||||||||||||
| INCOME BEFORE INCOME TAX EXPENSE AND EQUITY EARNINGS | 43.7 | 66.4 | 112.0 | 75.5 | ||||||||||||||||||||||
| Income Tax Expense | 7.1 | 7.9 | 12.7 | 1.7 | ||||||||||||||||||||||
| Equity Earnings of Unconsolidated Subsidiary | 0.8 | 0.7 | 1.5 | 1.5 | ||||||||||||||||||||||
| NET INCOME | 37.4 | 59.2 | 100.8 | 75.3 | ||||||||||||||||||||||
| Net Income Attributable to Noncontrolling Interest | 0.6 | 0.4 | 1.6 | 1.4 | ||||||||||||||||||||||
|
EARNINGS ATTRIBUTABLE TO SWEPCo COMMON SHAREHOLDER
|
$ | 36.8 | $ | 58.8 | $ | 99.2 | $ | 73.9 | ||||||||||||||||||
|
The common stock of SWEPCo is wholly-owned by Parent.
|
||||||||||||||||||||||||||
| Three Months Ended | Six Months Ended | |||||||||||||||||||||||||
| June 30, | June 30, | |||||||||||||||||||||||||
| 2021 | 2020 | 2021 | 2020 | |||||||||||||||||||||||
| Net Income | $ | 37.4 | $ | 59.2 | $ | 100.8 | $ | 75.3 | ||||||||||||||||||
| OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAXES | ||||||||||||||||||||||||||
|
Cash Flow Hedges, Net of Tax of $0.1 and $0.1 for the Three Months Ended June 30, 2021 and 2020, Respectively, and $0.2 and $0.2 for the Six Months Ended June 30, 2021 and 2020, Respectively
|
0.4 | 0.3 | 0.8 | 0.7 | ||||||||||||||||||||||
|
Amortization of Pension and OPEB Deferred Costs, Net of Tax of $(0.1) and $(0.1) for the Three Months Ended June 30, 2021 and 2020, Respectively, and $(0.2) and $(0.2) for the Six Months Ended June 30, 2021 and 2020, Respectively
|
(0.4) | (0.3) | (0.8) | (0.7) | ||||||||||||||||||||||
| TOTAL OTHER COMPREHENSIVE INCOME | — | — | — | — | ||||||||||||||||||||||
| TOTAL COMPREHENSIVE INCOME | 37.4 | 59.2 | 100.8 | 75.3 | ||||||||||||||||||||||
| Total Comprehensive Income Attributable to Noncontrolling Interest | 0.6 | 0.4 | 1.6 | 1.4 | ||||||||||||||||||||||
|
TOTAL COMPREHENSIVE INCOME ATTRIBUTABLE TO SWEPCo COMMON SHAREHOLDER
|
$ | 36.8 | $ | 58.8 | $ | 99.2 | $ | 73.9 | ||||||||||||||||||
| SWEPCo Common Shareholder | |||||||||||||||||||||||||||||||||||
|
Common
Stock |
Paid-in
Capital |
Retained
Earnings |
Accumulated
Other Comprehensive Income (Loss) |
Noncontrolling
Interest |
Total | ||||||||||||||||||||||||||||||
| TOTAL EQUITY – DECEMBER 31, 2019 | $ | 135.7 | $ | 676.6 | $ | 1,629.5 | $ | (1.3) | $ | 0.6 | $ | 2,441.1 | |||||||||||||||||||||||
| Common Stock Dividends – Nonaffiliated | (0.7) | (0.7) | |||||||||||||||||||||||||||||||||
| ASU 2016-13 Adoption | 1.6 | 1.6 | |||||||||||||||||||||||||||||||||
| Net Income | 15.1 | 1.0 | 16.1 | ||||||||||||||||||||||||||||||||
| TOTAL EQUITY – MARCH 31, 2020 | 135.7 | 676.6 | 1,646.2 | (1.3) | 0.9 | 2,458.1 | |||||||||||||||||||||||||||||
| Common Stock Dividends – Nonaffiliated | (1.2) | (1.2) | |||||||||||||||||||||||||||||||||
| Net Income | 58.8 | 0.4 | 59.2 | ||||||||||||||||||||||||||||||||
| TOTAL EQUITY – JUNE 30, 2020 | $ | 135.7 | $ | 676.6 | $ | 1,705.0 | $ | (1.3) | $ | 0.1 | $ | 2,516.1 | |||||||||||||||||||||||
| TOTAL EQUITY – DECEMBER 31, 2020 | $ | 0.1 | $ | 812.2 | $ | 1,811.9 | $ | 1.9 | $ | 1.6 | $ | 2,627.7 | |||||||||||||||||||||||
| Capital Contribution from Parent | 100.0 | 100.0 | |||||||||||||||||||||||||||||||||
| Common Stock Dividends – Nonaffiliated | (1.0) | (1.0) | |||||||||||||||||||||||||||||||||
| Net Income | 62.4 | 1.0 | 63.4 | ||||||||||||||||||||||||||||||||
| TOTAL EQUITY – MARCH 31, 2021 | 0.1 | 912.2 | 1,874.3 | 1.9 | 1.6 | 2,790.1 | |||||||||||||||||||||||||||||
| Capital Contribution from Parent | 75.0 | 75.0 | |||||||||||||||||||||||||||||||||
| Common Stock Dividends – Nonaffiliated | (0.6) | (0.6) | |||||||||||||||||||||||||||||||||
| Net Income | 36.8 | 0.6 | 37.4 | ||||||||||||||||||||||||||||||||
| TOTAL EQUITY – JUNE 30, 2021 | $ | 0.1 | $ | 987.2 | $ | 1,911.1 | $ | 1.9 | $ | 1.6 | $ | 2,901.9 | |||||||||||||||||||||||
| June 30, | December 31, | |||||||||||||
| 2021 | 2020 | |||||||||||||
| CURRENT ASSETS | ||||||||||||||
|
Cash and Cash Equivalents
(June 30, 2021 and December 31, 2020 Amounts Include $24.9 and $10.1, Respectively, Related to Sabine)
|
$ | 28.0 | $ | 13.2 | ||||||||||
| Advances to Affiliates | 29.7 | 2.1 | ||||||||||||
| Accounts Receivable: | ||||||||||||||
| Customers | 102.2 | 27.1 | ||||||||||||
| Affiliated Companies | 30.1 | 25.1 | ||||||||||||
| Miscellaneous | 14.6 | 12.7 | ||||||||||||
| Total Accounts Receivable | 146.9 | 64.9 | ||||||||||||
|
Fuel
(June 30, 2021 and December 31, 2020 Amounts Include $20.3 and $35.2, Respectively, Related to Sabine)
|
179.1 | 191.1 | ||||||||||||
|
Materials and Supplies
(June 30, 2021 and December 31, 2020 Amounts Include $18.2 and $23.3, Respectively, Related to Sabine)
|
88.1 | 95.8 | ||||||||||||
| Risk Management Assets | 14.0 | 3.2 | ||||||||||||
| Accrued Tax Benefits | 14.5 | 29.9 | ||||||||||||
| Regulatory Asset for Under-Recovered Fuel Costs | — | 2.6 | ||||||||||||
| Prepayments and Other Current Assets | 16.4 | 25.2 | ||||||||||||
| TOTAL CURRENT ASSETS | 516.7 | 428.0 | ||||||||||||
| PROPERTY, PLANT AND EQUIPMENT | ||||||||||||||
| Electric: | ||||||||||||||
| Generation | 4,839.4 | 4,681.4 | ||||||||||||
| Transmission | 2,260.0 | 2,165.7 | ||||||||||||
| Distribution | 2,475.7 | 2,382.5 | ||||||||||||
|
Other Property, Plant and Equipment
(June 30, 2021 and December 31, 2020 Amounts Include $219.9 and $223.7, Respectively, Related to Sabine)
|
809.0 | 788.8 | ||||||||||||
| Construction Work in Progress | 159.8 | 228.3 | ||||||||||||
| Total Property, Plant and Equipment | 10,543.9 | 10,246.7 | ||||||||||||
|
Accumulated Depreciation and Amortization
(June 30, 2021 and December 31, 2020 Amounts Include $144.6 and $126.5, Respectively, Related to Sabine)
|
3,375.4 | 3,158.5 | ||||||||||||
| TOTAL PROPERTY, PLANT AND EQUIPMENT – NET | 7,168.5 | 7,088.2 | ||||||||||||
| OTHER NONCURRENT ASSETS | ||||||||||||||
| Regulatory Assets | 1,006.2 | 403.1 | ||||||||||||
| Long-term Risk Management Assets | 0.6 | — | ||||||||||||
| Deferred Charges and Other Noncurrent Assets | 283.2 | 234.8 | ||||||||||||
| TOTAL OTHER NONCURRENT ASSETS | 1,290.0 | 637.9 | ||||||||||||
| TOTAL ASSETS | $ | 8,975.2 | $ | 8,154.1 | ||||||||||
| June 30, | December 31, | |||||||||||||
| 2021 | 2020 | |||||||||||||
| (in millions) | ||||||||||||||
| CURRENT LIABILITIES | ||||||||||||||
| Advances from Affiliates | $ | 149.6 | $ | 124.6 | ||||||||||
| Accounts Payable: | ||||||||||||||
| General | 121.8 | 135.9 | ||||||||||||
| Affiliated Companies | 50.1 | 43.0 | ||||||||||||
| Short-term Debt – Nonaffiliated | — | 35.0 | ||||||||||||
| Long-term Debt Due Within One Year – Nonaffiliated | 381.2 | 106.2 | ||||||||||||
| Risk Management Liabilities | — | 0.7 | ||||||||||||
| Customer Deposits | 60.7 | 61.3 | ||||||||||||
| Accrued Taxes | 108.3 | 41.0 | ||||||||||||
| Accrued Interest | 36.0 | 34.6 | ||||||||||||
| Obligations Under Operating Leases | 8.3 | 7.9 | ||||||||||||
| Other Current Liabilities | 130.5 | 173.4 | ||||||||||||
| TOTAL CURRENT LIABILITIES | 1,046.5 | 763.6 | ||||||||||||
| NONCURRENT LIABILITIES | ||||||||||||||
| Long-term Debt – Nonaffiliated | 2,749.5 | 2,530.2 | ||||||||||||
| Long-term Risk Management Liabilities | — | 1.0 | ||||||||||||
| Deferred Income Taxes | 1,040.3 | 1,017.6 | ||||||||||||
| Regulatory Liabilities and Deferred Investment Tax Credits | 874.8 | 863.4 | ||||||||||||
| Asset Retirement Obligations | 191.6 | 193.7 | ||||||||||||
| Employee Benefits and Pension Obligations | 22.9 | 18.6 | ||||||||||||
| Obligations Under Operating Leases | 58.5 | 44.1 | ||||||||||||
| Deferred Credits and Other Noncurrent Liabilities | 89.2 | 94.2 | ||||||||||||
| TOTAL NONCURRENT LIABILITIES | 5,026.8 | 4,762.8 | ||||||||||||
| TOTAL LIABILITIES | 6,073.3 | 5,526.4 | ||||||||||||
| Rate Matters (Note 4) | ||||||||||||||
| Commitments and Contingencies (Note 5) | ||||||||||||||
| EQUITY | ||||||||||||||
|
Common Stock – Par Value – $18 Per Share:
|
||||||||||||||
|
Authorized – 3,680 Shares
|
||||||||||||||
|
Outstanding – 3,680 Shares
|
0.1 | 0.1 | ||||||||||||
| Paid-in Capital | 987.2 | 812.2 | ||||||||||||
| Retained Earnings | 1,911.1 | 1,811.9 | ||||||||||||
| Accumulated Other Comprehensive Income (Loss) | 1.9 | 1.9 | ||||||||||||
| TOTAL COMMON SHAREHOLDER’S EQUITY | 2,900.3 | 2,626.1 | ||||||||||||
| Noncontrolling Interest | 1.6 | 1.6 | ||||||||||||
| TOTAL EQUITY | 2,901.9 | 2,627.7 | ||||||||||||
| TOTAL LIABILITIES AND EQUITY | $ | 8,975.2 | $ | 8,154.1 | ||||||||||
| Note | Registrant |
Page
Number |
||||||||||||
| Significant Accounting Matters | AEP, AEP Texas, AEPTCo, APCo, I&M, OPCo, PSO, SWEPCo | |||||||||||||
| New Accounting Standards | AEP, AEP Texas, AEPTCo, APCo, I&M, OPCo, PSO, SWEPCo | |||||||||||||
| Comprehensive Income | AEP, AEP Texas, APCo, I&M, PSO, SWEPCo | |||||||||||||
| Rate Matters | AEP, AEP Texas, AEPTCo, APCo, I&M, OPCo, PSO, SWEPCo | |||||||||||||
|
Commitments, Guarantees and Contingencies
|
AEP, AEP Texas, AEPTCo, APCo, I&M, OPCo, PSO, SWEPCo | |||||||||||||
| Acquisitions and Dispositions | AEP, 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 | |||||||||||||
| Property, Plant and Equipment | AEP, APCo | |||||||||||||
|
Revenue from Contracts with Customers
|
AEP, AEP Texas, AEPTCo, APCo, I&M, OPCo, PSO, SWEPCo | |||||||||||||
| Three Months Ended June 30, | |||||||||||||||||||||||
| 2021 | 2020 | ||||||||||||||||||||||
| (in millions, except per share data) | |||||||||||||||||||||||
| $/share | $/share | ||||||||||||||||||||||
|
Earnings Attributable to AEP Common Shareholders
|
$ | 578.2 | $ | 520.8 | |||||||||||||||||||
| Weighted-Average Number of Basic AEP Common Shares Outstanding | 499.9 | $ | 1.16 | 495.7 | $ | 1.05 | |||||||||||||||||
| Weighted-Average Dilutive Effect of Stock-Based Awards | 1.1 | (0.01) | 1.6 | — | |||||||||||||||||||
| Weighted-Average Number of Diluted AEP Common Shares Outstanding | 501.0 | $ | 1.15 | 497.3 | $ | 1.05 | |||||||||||||||||
| Six Months Ended June 30, | |||||||||||||||||||||||
| 2021 | 2020 | ||||||||||||||||||||||
| (in millions, except per share data) | |||||||||||||||||||||||
| $/share | $/share | ||||||||||||||||||||||
|
Earnings Attributable to AEP Common Shareholders
|
$ | 1,153.2 | $ | 1,016.0 | |||||||||||||||||||
| Weighted-Average Number of Basic AEP Common Shares Outstanding | 498.5 | $ | 2.31 | 495.1 | $ | 2.05 | |||||||||||||||||
| Weighted-Average Dilutive Effect of Stock-Based Awards | 1.1 | — | 1.9 | (0.01) | |||||||||||||||||||
| Weighted-Average Number of Diluted AEP Common Shares Outstanding | 499.6 | $ | 2.31 | 497.0 | $ | 2.04 | |||||||||||||||||
| June 30, 2021 | ||||||||||||||||||||
| AEP | AEP Texas | APCo | ||||||||||||||||||
| (in millions) | ||||||||||||||||||||
|
Cash and Cash Equivalents
|
$ | 312.7 | $ | 0.1 | $ | 3.9 | ||||||||||||||
|
Restricted Cash
|
47.0 | 27.9 | 19.1 | |||||||||||||||||
|
Total Cash, Cash Equivalents and Restricted Cash
|
$ | 359.7 | $ | 28.0 | $ | 23.0 | ||||||||||||||
| December 31, 2020 | ||||||||||||||||||||
| AEP | AEP Texas | APCo | ||||||||||||||||||
| (in millions) | ||||||||||||||||||||
|
Cash and Cash Equivalents
|
$ | 392.7 | $ | 0.1 | $ | 5.8 | ||||||||||||||
|
Restricted Cash
|
45.6 | 28.7 | 16.9 | |||||||||||||||||
|
Total Cash, Cash Equivalents and Restricted Cash
|
$ | 438.3 | $ | 28.8 | $ | 22.7 | ||||||||||||||
| Cash Flow Hedges | Pension | |||||||||||||||||||||||||
| Three Months Ended June 30, 2021 | Commodity | Interest Rate | and OPEB | Total | ||||||||||||||||||||||
| (in millions) | ||||||||||||||||||||||||||
| Balance in AOCI as of March 31, 2021 | $ | (18.5) | $ | (33.3) | $ | 21.0 | $ | (30.8) | ||||||||||||||||||
| Change in Fair Value Recognized in AOCI | 136.4 | (0.4) | (a) | — | 136.0 | |||||||||||||||||||||
|
Amount of (Gain) Loss Reclassified from AOCI
|
||||||||||||||||||||||||||
| Generation & Marketing Revenues (b) | (0.1) | — | — | (0.1) | ||||||||||||||||||||||
|
Purchased Electricity for Resale (b)
|
(9.5) | — | — | (9.5) | ||||||||||||||||||||||
|
Interest Expense (b)
|
— | 1.8 | — | 1.8 | ||||||||||||||||||||||
| Amortization of Prior Service Cost (Credit) | — | — | (4.9) | (4.9) | ||||||||||||||||||||||
| Amortization of Actuarial (Gains) Losses | — | — | 2.2 | 2.2 | ||||||||||||||||||||||
|
Reclassifications from AOCI, before Income Tax (Expense) Benefit
|
(9.6) | 1.8 | (2.7) | (10.5) | ||||||||||||||||||||||
| Income Tax (Expense) Benefit | (2.0) | 0.3 | (0.6) | (2.3) | ||||||||||||||||||||||
|
Reclassifications from AOCI, Net of Income Tax (Expense) Benefit
|
(7.6) | 1.5 | (2.1) | (8.2) | ||||||||||||||||||||||
|
Net Current Period Other Comprehensive Income (Loss)
|
128.8 | 1.1 | (2.1) | 127.8 | ||||||||||||||||||||||
| Balance in AOCI as of June 30, 2021 | $ | 110.3 | $ | (32.2) | $ | 18.9 | $ | 97.0 | ||||||||||||||||||
| Cash Flow Hedges | Pension | |||||||||||||||||||||||||
| Three Months Ended June 30, 2020 | Commodity | Interest Rate | and OPEB | Total | ||||||||||||||||||||||
| (in millions) | ||||||||||||||||||||||||||
| Balance in AOCI as of March 31, 2020 | $ | (128.5) | $ | (53.5) | $ | (34.5) | $ | (216.5) | ||||||||||||||||||
| Change in Fair Value Recognized in AOCI | 6.5 | (2.8) | (a) | — | 3.7 | |||||||||||||||||||||
|
Amount of (Gain) Loss Reclassified from AOCI
|
||||||||||||||||||||||||||
| Generation & Marketing Revenues (b) | (0.1) | — | — | (0.1) | ||||||||||||||||||||||
|
Purchased Electricity for Resale (b)
|
51.3 | — | — | 51.3 | ||||||||||||||||||||||
|
Interest Expense (b)
|
— | 1.4 | — | 1.4 | ||||||||||||||||||||||
|
Amortization of Prior Service Cost (Credit)
|
— | — | (4.6) | (4.6) | ||||||||||||||||||||||
|
Amortization of Actuarial (Gains) Losses
|
— | — | 2.5 | 2.5 | ||||||||||||||||||||||
|
Reclassifications from AOCI, before Income Tax (Expense) Benefit
|
51.2 | 1.4 | (2.1) | 50.5 | ||||||||||||||||||||||
| Income Tax (Expense) Benefit | 10.6 | 0.4 | (0.4) | 10.6 | ||||||||||||||||||||||
|
Reclassifications from AOCI, Net of Income Tax (Expense) Benefit
|
40.6 | 1.0 | (1.7) | 39.9 | ||||||||||||||||||||||
|
Net Current Period Other Comprehensive Income (Loss)
|
47.1 | (1.8) | (1.7) | 43.6 | ||||||||||||||||||||||
| Balance in AOCI as of June 30, 2020 | $ | (81.4) | $ | (55.3) | $ | (36.2) | $ | (172.9) | ||||||||||||||||||
| Cash Flow Hedges | Pension | |||||||||||||||||||||||||
| Six Months Ended June 30, 2021 | Commodity | Interest Rate | and OPEB | Total | ||||||||||||||||||||||
| (in millions) | ||||||||||||||||||||||||||
| Balance in AOCI as of December 31, 2020 | $ | (60.6) | $ | (47.5) | $ | 23.0 | $ | (85.1) | ||||||||||||||||||
| Change in Fair Value Recognized in AOCI | 313.7 | 12.7 | (a) | — | 326.4 | |||||||||||||||||||||
|
Amount of (Gain) Loss Reclassified from AOCI
|
||||||||||||||||||||||||||
| Generation & Marketing Revenues (b) | 0.7 | — | — | 0.7 | ||||||||||||||||||||||
|
Purchased Electricity for Resale (b)
|
(181.5) | — | — | (181.5) | ||||||||||||||||||||||
|
Interest Expense (b)
|
— | 3.3 | — | 3.3 | ||||||||||||||||||||||
| Amortization of Prior Service Cost (Credit) | — | — | (9.7) | (9.7) | ||||||||||||||||||||||
| Amortization of Actuarial (Gains) Losses | — | — | 4.5 | 4.5 | ||||||||||||||||||||||
|
Reclassifications from AOCI, before Income Tax (Expense) Benefit
|
(180.8) | 3.3 | (5.2) | (182.7) | ||||||||||||||||||||||
| Income Tax (Expense) Benefit | (38.0) | 0.7 | (1.1) | (38.4) | ||||||||||||||||||||||
|
Reclassifications from AOCI, Net of Income Tax (Expense) Benefit
|
(142.8) | 2.6 | (4.1) | (144.3) | ||||||||||||||||||||||
|
Net Current Period Other Comprehensive Income (Loss)
|
170.9 | 15.3 | (4.1) | 182.1 | ||||||||||||||||||||||
| Balance in AOCI as of June 30, 2021 | $ | 110.3 | $ | (32.2) | $ | 18.9 | $ | 97.0 | ||||||||||||||||||
| Cash Flow Hedges | Pension | |||||||||||||||||||||||||
| Six Months Ended June 30, 2020 | Commodity | Interest Rate | and OPEB | Total | ||||||||||||||||||||||
| (in millions) | ||||||||||||||||||||||||||
| Balance in AOCI as of December 31, 2019 | $ | (103.5) | $ | (11.5) | $ | (32.7) | $ | (147.7) | ||||||||||||||||||
| Change in Fair Value Recognized in AOCI | (58.8) | (45.5) | (a) | — | (104.3) | |||||||||||||||||||||
|
Amount of (Gain) Loss Reclassified from AOCI
|
||||||||||||||||||||||||||
| Generation & Marketing Revenues (b) | (0.2) | — | — | (0.2) | ||||||||||||||||||||||
|
Purchased Electricity for Resale (b)
|
102.4 | — | — | 102.4 | ||||||||||||||||||||||
|
Interest Expense (b)
|
— | 2.3 | — | 2.3 | ||||||||||||||||||||||
|
Amortization of Prior Service Cost (Credit)
|
— | — | (9.5) | (9.5) | ||||||||||||||||||||||
|
Amortization of Actuarial (Gains) Losses
|
— | — | 5.1 | 5.1 | ||||||||||||||||||||||
|
Reclassifications from AOCI, before Income Tax (Expense) Benefit
|
102.2 | 2.3 | (4.4) | 100.1 | ||||||||||||||||||||||
| Income Tax (Expense) Benefit | 21.3 | 0.6 | (0.9) | 21.0 | ||||||||||||||||||||||
|
Reclassifications from AOCI, Net of Income Tax (Expense) Benefit
|
80.9 | 1.7 | (3.5) | 79.1 | ||||||||||||||||||||||
|
Net Current Period Other Comprehensive Income (Loss)
|
22.1 | (43.8) | (3.5) | (25.2) | ||||||||||||||||||||||
| Balance in AOCI as of June 30, 2020 | $ | (81.4) | $ | (55.3) | $ | (36.2) | $ | (172.9) | ||||||||||||||||||
| Cash Flow Hedge – | Pension | |||||||||||||||||||||||||
| Three Months Ended June 30, 2021 | Interest Rate | and OPEB | Total | |||||||||||||||||||||||
| (in millions) | ||||||||||||||||||||||||||
| Balance in AOCI as of March 31, 2021 | $ | (2.0) | $ | (6.6) | $ | (8.6) | ||||||||||||||||||||
|
Change in Fair Value Recognized in AOCI
|
(0.1) | — | (0.1) | |||||||||||||||||||||||
| Amount of (Gain) Loss Reclassified from AOCI | ||||||||||||||||||||||||||
| Interest Expense (b) | 0.3 | — | 0.3 | |||||||||||||||||||||||
| Amortization of Actuarial (Gains) Losses | — | 0.1 | 0.1 | |||||||||||||||||||||||
|
Reclassifications from AOCI, before Income Tax (Expense) Benefit
|
0.3 | 0.1 | 0.4 | |||||||||||||||||||||||
| Income Tax (Expense) Benefit | — | — | — | |||||||||||||||||||||||
|
Reclassifications from AOCI, Net of Income Tax (Expense) Benefit
|
0.3 | 0.1 | 0.4 | |||||||||||||||||||||||
| Net Current Period Other Comprehensive Income (Loss) | 0.2 | 0.1 | 0.3 | |||||||||||||||||||||||
| Balance in AOCI as of June 30, 2021 | $ | (1.8) | $ | (6.5) | $ | (8.3) | ||||||||||||||||||||
| Cash Flow Hedge – | Pension | |||||||||||||||||||||||||
| Three Months Ended June 30, 2020 | Interest Rate | and OPEB | Total | |||||||||||||||||||||||
| (in millions) | ||||||||||||||||||||||||||
| Balance in AOCI as of March 31, 2020 | $ | (3.1) | $ | (9.4) | $ | (12.5) | ||||||||||||||||||||
|
Change in Fair Value Recognized in AOCI
|
— | — | — | |||||||||||||||||||||||
| Amount of (Gain) Loss Reclassified from AOCI | ||||||||||||||||||||||||||
| Interest Expense (b) | 0.2 | — | 0.2 | |||||||||||||||||||||||
| Amortization of Actuarial (Gains) Losses | — | 0.1 | 0.1 | |||||||||||||||||||||||
|
Reclassifications from AOCI, before Income Tax (Expense) Benefit
|
0.2 | 0.1 | 0.3 | |||||||||||||||||||||||
| Income Tax (Expense) Benefit | — | — | — | |||||||||||||||||||||||
|
Reclassifications from AOCI, Net of Income Tax (Expense) Benefit
|
0.2 | 0.1 | 0.3 | |||||||||||||||||||||||
| Net Current Period Other Comprehensive Income (Loss) | 0.2 | 0.1 | 0.3 | |||||||||||||||||||||||
| Balance in AOCI as of June 30, 2020 | $ | (2.9) | $ | (9.3) | $ | (12.2) | ||||||||||||||||||||
| Cash Flow Hedge – | Pension | |||||||||||||||||||||||||
| Six Months Ended June 30, 2021 | Interest Rate | and OPEB | Total | |||||||||||||||||||||||
| (in millions) | ||||||||||||||||||||||||||
| Balance in AOCI as of December 31, 2020 | $ | (2.3) | $ | (6.6) | $ | (8.9) | ||||||||||||||||||||
|
Change in Fair Value Recognized in AOCI
|
— | — | — | |||||||||||||||||||||||
| Amount of (Gain) Loss Reclassified from AOCI | ||||||||||||||||||||||||||
| Interest Expense (b) | 0.6 | — | 0.6 | |||||||||||||||||||||||
| Amortization of Actuarial (Gains) Losses | — | 0.1 | 0.1 | |||||||||||||||||||||||
|
Reclassifications from AOCI, before Income Tax (Expense) Benefit
|
0.6 | 0.1 | 0.7 | |||||||||||||||||||||||
| Income Tax (Expense) Benefit | 0.1 | — | 0.1 | |||||||||||||||||||||||
|
Reclassifications from AOCI, Net of Income Tax (Expense) Benefit
|
0.5 | 0.1 | 0.6 | |||||||||||||||||||||||
| Net Current Period Other Comprehensive Income (Loss) | 0.5 | 0.1 | 0.6 | |||||||||||||||||||||||
| Balance in AOCI as of June 30, 2021 | $ | (1.8) | $ | (6.5) | $ | (8.3) | ||||||||||||||||||||
| Cash Flow Hedge – | Pension | |||||||||||||||||||||||||
| Six Months Ended June 30, 2020 | Interest Rate | and OPEB | Total | |||||||||||||||||||||||
| (in millions) | ||||||||||||||||||||||||||
| Balance in AOCI as of December 31, 2019 | $ | (3.4) | $ | (9.4) | $ | (12.8) | ||||||||||||||||||||
|
Change in Fair Value Recognized in AOCI
|
— | — | — | |||||||||||||||||||||||
| Amount of (Gain) Loss Reclassified from AOCI | ||||||||||||||||||||||||||
| Interest Expense (b) | 0.6 | — | 0.6 | |||||||||||||||||||||||
| Amortization of Actuarial (Gains) Losses | — | 0.1 | 0.1 | |||||||||||||||||||||||
|
Reclassifications from AOCI, before Income Tax (Expense) Benefit
|
0.6 | 0.1 | 0.7 | |||||||||||||||||||||||
| Income Tax (Expense) Benefit | 0.1 | — | 0.1 | |||||||||||||||||||||||
|
Reclassifications from AOCI, Net of Income Tax (Expense) Benefit
|
0.5 | 0.1 | 0.6 | |||||||||||||||||||||||
| Net Current Period Other Comprehensive Income (Loss) | 0.5 | 0.1 | 0.6 | |||||||||||||||||||||||
| Balance in AOCI as of June 30, 2020 | $ | (2.9) | $ | (9.3) | $ | (12.2) | ||||||||||||||||||||
| Cash Flow Hedge – | Pension | |||||||||||||||||||||||||
| Three Months Ended June 30, 2021 | Interest Rate | and OPEB | Total | |||||||||||||||||||||||
| (in millions) | ||||||||||||||||||||||||||
| Balance in AOCI as of March 31, 2021 | $ | 8.2 | $ | 6.9 | $ | 15.1 | ||||||||||||||||||||
|
Change in Fair Value Recognized in AOCI
|
(0.2) | — | (0.2) | |||||||||||||||||||||||
| Amount of (Gain) Loss Reclassified from AOCI | ||||||||||||||||||||||||||
| Interest Expense (b) | — | — | — | |||||||||||||||||||||||
| Amortization of Prior Service Cost (Credit) | — | (1.3) | (1.3) | |||||||||||||||||||||||
|
Reclassifications from AOCI, before Income Tax (Expense) Benefit
|
— | (1.3) | (1.3) | |||||||||||||||||||||||
| Income Tax (Expense) Benefit | — | (0.3) | (0.3) | |||||||||||||||||||||||
|
Reclassifications from AOCI, Net of Income Tax (Expense) Benefit
|
— | (1.0) | (1.0) | |||||||||||||||||||||||
|
Net Current Period Other Comprehensive Income (Loss)
|
(0.2) | (1.0) | (1.2) | |||||||||||||||||||||||
| Balance in AOCI as of June 30, 2021 | $ | 8.0 | $ | 5.9 | $ | 13.9 | ||||||||||||||||||||
| Cash Flow Hedge – | Pension | |||||||||||||||||||||||||
| Three Months Ended June 30, 2020 | Interest Rate | and OPEB | Total | |||||||||||||||||||||||
| (in millions) | ||||||||||||||||||||||||||
| Balance in AOCI as of March 31, 2020 | $ | (3.3) | $ | 3.2 | $ | (0.1) | ||||||||||||||||||||
|
Change in Fair Value Recognized in AOCI
|
(0.6) | — | (0.6) | |||||||||||||||||||||||
| Amount of (Gain) Loss Reclassified from AOCI | ||||||||||||||||||||||||||
| Interest Expense (b) | (0.2) | — | (0.2) | |||||||||||||||||||||||
| Amortization of Prior Service Cost (Credit) | — | (1.4) | (1.4) | |||||||||||||||||||||||
| Amortization of Actuarial (Gains) Losses | — | 0.2 | 0.2 | |||||||||||||||||||||||
|
Reclassifications from AOCI, before Income Tax (Expense) Benefit
|
(0.2) | (1.2) | (1.4) | |||||||||||||||||||||||
| Income Tax (Expense) Benefit | — | (0.2) | (0.2) | |||||||||||||||||||||||
|
Reclassifications from AOCI, Net of Income Tax (Expense) Benefit
|
(0.2) | (1.0) | (1.2) | |||||||||||||||||||||||
|
Net Current Period Other Comprehensive Income (Loss)
|
(0.8) | (1.0) | (1.8) | |||||||||||||||||||||||
| Balance in AOCI as of June 30, 2020 | $ | (4.1) | $ | 2.2 | $ | (1.9) | ||||||||||||||||||||
| APCo | ||||||||||||||||||||||||||
| Cash Flow Hedge – | Pension | |||||||||||||||||||||||||
| Six Months Ended June 30, 2021 | Interest Rate | and OPEB | Total | |||||||||||||||||||||||
| (in millions) | ||||||||||||||||||||||||||
| Balance in AOCI as of December 31, 2020 | $ | (0.8) | $ | 8.0 | $ | 7.2 | ||||||||||||||||||||
|
Change in Fair Value Recognized in AOCI
|
9.1 | — | 9.1 | |||||||||||||||||||||||
| Amount of (Gain) Loss Reclassified from AOCI | ||||||||||||||||||||||||||
| Interest Expense (b) | (0.4) | — | (0.4) | |||||||||||||||||||||||
| Amortization of Prior Service Cost (Credit) | — | (2.7) | (2.7) | |||||||||||||||||||||||
|
Reclassifications from AOCI, before Income Tax (Expense) Benefit
|
(0.4) | (2.7) | (3.1) | |||||||||||||||||||||||
| Income Tax (Expense) Benefit | (0.1) | (0.6) | (0.7) | |||||||||||||||||||||||
|
Reclassifications from AOCI, Net of Income Tax (Expense) Benefit
|
(0.3) | (2.1) | (2.4) | |||||||||||||||||||||||
|
Net Current Period Other Comprehensive Income (Loss)
|
8.8 | (2.1) | 6.7 | |||||||||||||||||||||||
| Balance in AOCI as of June 30, 2021 | $ | 8.0 | $ | 5.9 | $ | 13.9 | ||||||||||||||||||||
| Cash Flow Hedge – | Pension | |||||||||||||||||||||||||
| Six Months Ended June 30, 2020 | Interest Rate | and OPEB | Total | |||||||||||||||||||||||
| (in millions) | ||||||||||||||||||||||||||
| Balance in AOCI as of December 31, 2019 | $ | 0.9 | $ | 4.1 | $ | 5.0 | ||||||||||||||||||||
|
Change in Fair Value Recognized in AOCI
|
(4.5) | — | (4.5) | |||||||||||||||||||||||
| Amount of (Gain) Loss Reclassified from AOCI | ||||||||||||||||||||||||||
| Interest Expense (b) | (0.6) | — | (0.6) | |||||||||||||||||||||||
| Amortization of Prior Service Cost (Credit) | — | (2.7) | (2.7) | |||||||||||||||||||||||
| Amortization of Actuarial (Gains) Losses | — | 0.3 | 0.3 | |||||||||||||||||||||||
|
Reclassifications from AOCI, before Income Tax (Expense) Benefit
|
(0.6) | (2.4) | (3.0) | |||||||||||||||||||||||
| Income Tax (Expense) Benefit | (0.1) | (0.5) | (0.6) | |||||||||||||||||||||||
|
Reclassifications from AOCI, Net of Income Tax (Expense) Benefit
|
(0.5) | (1.9) | (2.4) | |||||||||||||||||||||||
|
Net Current Period Other Comprehensive Income (Loss)
|
(5.0) | (1.9) | (6.9) | |||||||||||||||||||||||
| Balance in AOCI as of June 30, 2020 | $ | (4.1) | $ | 2.2 | $ | (1.9) | ||||||||||||||||||||
| Cash Flow Hedge – | Pension | |||||||||||||||||||||||||
| Three Months Ended June 30, 2020 | Interest Rate | and OPEB | Total | |||||||||||||||||||||||
| (in millions) | ||||||||||||||||||||||||||
| Balance in AOCI as of March 31, 2020 | $ | (9.5) | $ | (1.7) | $ | (11.2) | ||||||||||||||||||||
|
Change in Fair Value Recognized in AOCI
|
— | — | — | |||||||||||||||||||||||
| Amount of (Gain) Loss Reclassified from AOCI | ||||||||||||||||||||||||||
| Interest Expense (b) | 0.5 | — | 0.5 | |||||||||||||||||||||||
| Amortization of Prior Service Cost (Credit) | — | (0.1) | (0.1) | |||||||||||||||||||||||
| Amortization of Actuarial (Gains) Losses | — | 0.1 | 0.1 | |||||||||||||||||||||||
|
Reclassifications from AOCI, before Income Tax (Expense) Benefit
|
0.5 | — | 0.5 | |||||||||||||||||||||||
| Income Tax (Expense) Benefit | 0.1 | — | 0.1 | |||||||||||||||||||||||
|
Reclassifications from AOCI, Net of Income Tax (Expense) Benefit
|
0.4 | — | 0.4 | |||||||||||||||||||||||
|
Net Current Period Other Comprehensive Income (Loss)
|
0.4 | — | 0.4 | |||||||||||||||||||||||
| Balance in AOCI as of June 30, 2020 | $ | (9.1) | $ | (1.7) | $ | (10.8) | ||||||||||||||||||||
| Cash Flow Hedge – | Pension | |||||||||||||||||||||||||
| Six Months Ended June 30, 2020 | Interest Rate | and OPEB | Total | |||||||||||||||||||||||
| (in millions) | ||||||||||||||||||||||||||
| Balance in AOCI as of December 31, 2019 | $ | (9.9) | $ | (1.7) | $ | (11.6) | ||||||||||||||||||||
|
Change in Fair Value Recognized in AOCI
|
— | — | — | |||||||||||||||||||||||
| Amount of (Gain) Loss Reclassified from AOCI | ||||||||||||||||||||||||||
| Interest Expense (b) | 1.0 | — | 1.0 | |||||||||||||||||||||||
| Amortization of Prior Service Cost (Credit) | — | (0.3) | (0.3) | |||||||||||||||||||||||
| Amortization of Actuarial (Gains) Losses | — | 0.3 | 0.3 | |||||||||||||||||||||||
|
Reclassifications from AOCI, before Income Tax (Expense) Benefit
|
1.0 | — | 1.0 | |||||||||||||||||||||||
| Income Tax (Expense) Benefit | 0.2 | — | 0.2 | |||||||||||||||||||||||
|
Reclassifications from AOCI, Net of Income Tax (Expense) Benefit
|
0.8 | — | 0.8 | |||||||||||||||||||||||
|
Net Current Period Other Comprehensive Income (Loss)
|
0.8 | — | 0.8 | |||||||||||||||||||||||
| Balance in AOCI as of June 30, 2020 | $ | (9.1) | $ | (1.7) | $ | (10.8) | ||||||||||||||||||||
| PSO | ||||||||||||||||||||||||||
| Cash Flow Hedge – | ||||||||||||||||||||||||||
| Three Months Ended June 30, 2021 | Interest Rate | |||||||||||||||||||||||||
| (in millions) | ||||||||||||||||||||||||||
| Balance in AOCI as of March 31, 2021 | $ | — | ||||||||||||||||||||||||
| Change in Fair Value Recognized in AOCI | — | |||||||||||||||||||||||||
| Amount of (Gain) Loss Reclassified from AOCI | ||||||||||||||||||||||||||
| Interest Expense (b) | — | |||||||||||||||||||||||||
|
Reclassifications from AOCI, before Income Tax (Expense) Benefit
|
— | |||||||||||||||||||||||||
| Income Tax (Expense) Benefit | — | |||||||||||||||||||||||||
|
Reclassifications from AOCI, Net of Income Tax (Expense) Benefit
|
— | |||||||||||||||||||||||||
| Net Current Period Other Comprehensive Income (Loss) | — | |||||||||||||||||||||||||
| Balance in AOCI as of June 30, 2021 | $ | — | ||||||||||||||||||||||||
| Cash Flow Hedge – | ||||||||||||||||||||||||||
| Three Months Ended June 30, 2020 | Interest Rate | |||||||||||||||||||||||||
| (in millions) | ||||||||||||||||||||||||||
| Balance in AOCI as of March 31, 2020 | $ | 0.9 | ||||||||||||||||||||||||
| Change in Fair Value Recognized in AOCI | — | |||||||||||||||||||||||||
| Amount of (Gain) Loss Reclassified from AOCI | ||||||||||||||||||||||||||
| Interest Expense (b) | (0.4) | |||||||||||||||||||||||||
|
Reclassifications from AOCI, before Income Tax (Expense) Benefit
|
(0.4) | |||||||||||||||||||||||||
| Income Tax (Expense) Benefit | (0.1) | |||||||||||||||||||||||||
|
Reclassifications from AOCI, Net of Income Tax (Expense) Benefit
|
(0.3) | |||||||||||||||||||||||||
| Net Current Period Other Comprehensive Income (Loss) | (0.3) | |||||||||||||||||||||||||
| Balance in AOCI as of June 30, 2020 | $ | 0.6 | ||||||||||||||||||||||||
| Cash Flow Hedge – | ||||||||||||||||||||||||||
| Six Months Ended June 30, 2021 | Interest Rate | |||||||||||||||||||||||||
| (in millions) | ||||||||||||||||||||||||||
| Balance in AOCI as of December 31, 2020 | $ | 0.1 | ||||||||||||||||||||||||
| Change in Fair Value Recognized in AOCI | — | |||||||||||||||||||||||||
| Amount of (Gain) Loss Reclassified from AOCI | ||||||||||||||||||||||||||
| Interest Expense (b) | (0.1) | |||||||||||||||||||||||||
|
Reclassifications from AOCI, before Income Tax (Expense) Benefit
|
(0.1) | |||||||||||||||||||||||||
| Income Tax (Expense) Benefit | — | |||||||||||||||||||||||||
|
Reclassifications from AOCI, Net of Income Tax (Expense) Benefit
|
(0.1) | |||||||||||||||||||||||||
| Net Current Period Other Comprehensive Income (Loss) | (0.1) | |||||||||||||||||||||||||
| Balance in AOCI as of June 30, 2021 | $ | — | ||||||||||||||||||||||||
| Cash Flow Hedge – | ||||||||||||||||||||||||||
| Six Months Ended June 30, 2020 | Interest Rate | |||||||||||||||||||||||||
| (in millions) | ||||||||||||||||||||||||||
| Balance in AOCI as of December 31, 2019 | $ | 1.1 | ||||||||||||||||||||||||
| Change in Fair Value Recognized in AOCI | — | |||||||||||||||||||||||||
| Amount of (Gain) Loss Reclassified from AOCI | ||||||||||||||||||||||||||
| Interest Expense (b) | (0.7) | |||||||||||||||||||||||||
|
Reclassifications from AOCI, before Income Tax (Expense) Benefit
|
(0.7) | |||||||||||||||||||||||||
| Income Tax (Expense) Benefit | (0.2) | |||||||||||||||||||||||||
|
Reclassifications from AOCI, Net of Income Tax (Expense) Benefit
|
(0.5) | |||||||||||||||||||||||||
| Net Current Period Other Comprehensive Income (Loss) | (0.5) | |||||||||||||||||||||||||
| Balance in AOCI as of June 30, 2020 | $ | 0.6 | ||||||||||||||||||||||||
| SWEPCo | ||||||||||||||||||||||||||
| Cash Flow Hedge – | Pension | |||||||||||||||||||||||||
| Three Months Ended June 30, 2021 | Interest Rate | and OPEB | Total | |||||||||||||||||||||||
| (in millions) | ||||||||||||||||||||||||||
| Balance in AOCI as of March 31, 2021 | $ | 0.1 | $ | 1.8 | $ | 1.9 | ||||||||||||||||||||
|
Change in Fair Value Recognized in AOCI
|
— | — | — | |||||||||||||||||||||||
| Amount of (Gain) Loss Reclassified from AOCI | ||||||||||||||||||||||||||
| Interest Expense (b) | 0.5 | — | 0.5 | |||||||||||||||||||||||
| Amortization of Prior Service Cost (Credit) | — | (0.5) | (0.5) | |||||||||||||||||||||||
|
Reclassifications from AOCI, before Income Tax (Expense) Benefit
|
0.5 | (0.5) | — | |||||||||||||||||||||||
| Income Tax (Expense) Benefit | 0.1 | (0.1) | — | |||||||||||||||||||||||
|
Reclassifications from AOCI, Net of Income Tax (Expense) Benefit
|
0.4 | (0.4) | — | |||||||||||||||||||||||
|
Net Current Period Other Comprehensive Income (Loss)
|
0.4 | (0.4) | — | |||||||||||||||||||||||
| Balance in AOCI as of June 30, 2021 | $ | 0.5 | $ | 1.4 | $ | 1.9 | ||||||||||||||||||||
| Cash Flow Hedge – | Pension | |||||||||||||||||||||||||
| Three Months Ended June 30, 2020 | Interest Rate | and OPEB | Total | |||||||||||||||||||||||
| (in millions) | ||||||||||||||||||||||||||
| Balance in AOCI as of March 31, 2020 | $ | (1.4) | $ | 0.1 | $ | (1.3) | ||||||||||||||||||||
|
Change in Fair Value Recognized in AOCI
|
— | — | — | |||||||||||||||||||||||
| Amount of (Gain) Loss Reclassified from AOCI | ||||||||||||||||||||||||||
| Interest Expense (b) | 0.4 | — | 0.4 | |||||||||||||||||||||||
| Amortization of Prior Service Cost (Credit) | — | (0.5) | (0.5) | |||||||||||||||||||||||
| Amortization of Actuarial (Gains) Losses | — | 0.1 | 0.1 | |||||||||||||||||||||||
|
Reclassifications from AOCI, before Income Tax (Expense) Benefit
|
0.4 | (0.4) | — | |||||||||||||||||||||||
| Income Tax (Expense) Benefit | 0.1 | (0.1) | — | |||||||||||||||||||||||
|
Reclassifications from AOCI, Net of Income Tax (Expense) Benefit
|
0.3 | (0.3) | — | |||||||||||||||||||||||
|
Net Current Period Other Comprehensive Income (Loss)
|
0.3 | (0.3) | — | |||||||||||||||||||||||
| Balance in AOCI as of June 30, 2020 | $ | (1.1) | $ | (0.2) | $ | (1.3) | ||||||||||||||||||||
| SWEPCo | ||||||||||||||||||||||||||
| Cash Flow Hedge – | Pension | |||||||||||||||||||||||||
| Six Months Ended June 30, 2021 | Interest Rate | and OPEB | Total | |||||||||||||||||||||||
| (in millions) | ||||||||||||||||||||||||||
| Balance in AOCI as of December 31, 2020 | $ | (0.3) | $ | 2.2 | $ | 1.9 | ||||||||||||||||||||
|
Change in Fair Value Recognized in AOCI
|
— | — | — | |||||||||||||||||||||||
| Amount of (Gain) Loss Reclassified from AOCI | ||||||||||||||||||||||||||
| Interest Expense (b) | 1.0 | — | 1.0 | |||||||||||||||||||||||
| Amortization of Prior Service Cost (Credit) | — | (1.0) | (1.0) | |||||||||||||||||||||||
|
Reclassifications from AOCI, before Income Tax (Expense) Benefit
|
1.0 | (1.0) | — | |||||||||||||||||||||||
| Income Tax (Expense) Benefit | 0.2 | (0.2) | — | |||||||||||||||||||||||
|
Reclassifications from AOCI, Net of Income Tax (Expense) Benefit
|
0.8 | (0.8) | — | |||||||||||||||||||||||
|
Net Current Period Other Comprehensive Income (Loss)
|
0.8 | (0.8) | — | |||||||||||||||||||||||
| Balance in AOCI as of June 30, 2021 | $ | 0.5 | $ | 1.4 | $ | 1.9 | ||||||||||||||||||||
| Cash Flow Hedge – | Pension | |||||||||||||||||||||||||
|
Six Months Ended June 30, 2020
|
Interest Rate | and OPEB | Total | |||||||||||||||||||||||
| (in millions) | ||||||||||||||||||||||||||
| Balance in AOCI as of December 31, 2019 | $ | (1.8) | $ | 0.5 | $ | (1.3) | ||||||||||||||||||||
|
Change in Fair Value Recognized in AOCI
|
— | — | — | |||||||||||||||||||||||
| Amount of (Gain) Loss Reclassified from AOCI | ||||||||||||||||||||||||||
| Interest Expense (b) | 0.9 | — | 0.9 | |||||||||||||||||||||||
| Amortization of Prior Service Cost (Credit) | — | (1.0) | (1.0) | |||||||||||||||||||||||
| Amortization of Actuarial (Gains) Losses | — | 0.1 | 0.1 | |||||||||||||||||||||||
|
Reclassifications from AOCI, before Income Tax (Expense) Benefit
|
0.9 | (0.9) | — | |||||||||||||||||||||||
| Income Tax (Expense) Benefit | 0.2 | (0.2) | — | |||||||||||||||||||||||
|
Reclassifications from AOCI, Net of Income Tax (Expense) Benefit
|
0.7 | (0.7) | — | |||||||||||||||||||||||
|
Net Current Period Other Comprehensive Income (Loss)
|
0.7 | (0.7) | — | |||||||||||||||||||||||
| Balance in AOCI as of June 30, 2020 | $ | (1.1) | $ | (0.2) | $ | (1.3) | ||||||||||||||||||||
| Plant |
Net
Investment |
Accelerated Depreciation Regulatory Asset |
Cost of Removal
Regulatory Liability |
Projected
Retirement Date |
Current Authorized
Recovery Period |
Annual
Depreciation (a) |
|||||||||||||||||||||||||||||||||||||||||||||||||||||
| (dollars in millions) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Northeastern Plant, Unit 3 | $ | 183.2 | $ | 119.2 | $ | 19.9 | (b) | 2026 | (c) | $ | 14.9 | ||||||||||||||||||||||||||||||||||||||||||||||||
|
Dolet Hills Power Station
|
27.3 | 114.3 | 24.2 | 2021 | (d) | 7.8 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
| Pirkey Power Plant | 157.1 | 49.4 | 38.9 | 2023 | (e) | 13.6 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
| Welsh Plant, Units 1 and 3 | 511.2 | 24.9 | 57.8 | (f) | 2028 | (g) | 33.2 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| AEP Texas | ||||||||||||||
| June 30, | December 31, | |||||||||||||
| 2021 | 2020 | |||||||||||||
| Noncurrent Regulatory Assets | (in millions) | |||||||||||||
| Regulatory Assets Currently Earning a Return | ||||||||||||||
| Advanced Metering System | $ | 16.6 | $ | 16.3 | ||||||||||
| Regulatory Assets Currently Not Earning a Return | ||||||||||||||
| Storm-Related Costs | 13.7 | 0.8 | ||||||||||||
| COVID-19 | 6.5 | 10.5 | ||||||||||||
| Vegetation Management Program | 5.2 | 3.8 | ||||||||||||
| Texas Retail Electric Provider Bad Debt Expense | 4.1 | — | ||||||||||||
| Other Regulatory Assets Pending Final Regulatory Approval | 4.3 | 1.5 | ||||||||||||
| Total Regulatory Assets Pending Final Regulatory Approval | $ | 50.4 | $ | 32.9 | ||||||||||
| APCo | ||||||||||||||
| June 30, | December 31, | |||||||||||||
| 2021 | 2020 | |||||||||||||
| Noncurrent Regulatory Assets | (in millions) | |||||||||||||
| Regulatory Assets Currently Earning a Return | ||||||||||||||
| COVID-19 – Virginia | $ | 4.8 | $ | 3.7 | ||||||||||
| Regulatory Assets Currently Not Earning a Return | ||||||||||||||
| Storm-Related Costs | 55.2 | 3.4 | ||||||||||||
| Plant Retirement Costs – Asset Retirement Obligation Costs | 25.9 | 25.9 | ||||||||||||
| Environmental Expense Deferral - Virginia | 13.6 | 9.3 | ||||||||||||
| COVID-19 – West Virginia | 1.9 | 1.5 | ||||||||||||
| Other Regulatory Assets Pending Final Regulatory Approval | 0.1 | — | ||||||||||||
| Total Regulatory Assets Pending Final Regulatory Approval | $ | 101.5 | $ | 43.8 | ||||||||||
| OPCo | ||||||||||||||
| June 30, | December 31, | |||||||||||||
| 2021 | 2020 | |||||||||||||
| Noncurrent Regulatory Assets | (in millions) | |||||||||||||
| Regulatory Assets Currently Not Earning a Return | ||||||||||||||
| Storm-Related Costs | $ | 6.7 | $ | 4.0 | ||||||||||
| COVID-19 | 1.8 | 4.4 | ||||||||||||
| Other Regulatory Assets Pending Final Regulatory Approval | 0.1 | — | ||||||||||||
| Total Regulatory Assets Pending Final Regulatory Approval | $ | 8.6 | $ | 8.4 | ||||||||||
| PSO | ||||||||||||||
| June 30, | December 31, | |||||||||||||
| 2021 | 2020 | |||||||||||||
| Noncurrent Regulatory Assets | (in millions) | |||||||||||||
| Regulatory Assets Currently Earning a Return | ||||||||||||||
| Unrecovered Winter Storm Fuel Costs (a) | $ | 669.4 | $ | — | ||||||||||
| Oklaunion Power Station Accelerated Depreciation | 33.5 | 34.4 | ||||||||||||
| Regulatory Assets Currently Not Earning a Return | ||||||||||||||
| Storm-Related Costs | 28.0 | 15.8 | ||||||||||||
| Other Regulatory Assets Pending Final Regulatory Approval | 0.8 | 0.3 | ||||||||||||
| Total Regulatory Assets Pending Final Regulatory Approval | $ | 731.7 | $ | 50.5 | ||||||||||
| SWEPCo | ||||||||||||||
| June 30, | December 31, | |||||||||||||
| 2021 | 2020 | |||||||||||||
| Noncurrent Regulatory Assets | (in millions) | |||||||||||||
| Regulatory Assets Currently Earning a Return | ||||||||||||||
| Unrecovered Winter Storm Fuel Costs (a) | $ | 453.0 | $ | — | ||||||||||
| Dolet Hills Power Station Accelerated Depreciation | 114.3 | 71.2 | ||||||||||||
| Pirkey Power Plant Accelerated Depreciation | 49.4 | 12.2 | ||||||||||||
|
Plant Retirement Costs – Unrecovered Plant, Louisiana
|
35.2 | 35.2 | ||||||||||||
| Welsh Plant, Units 1 and 3 Accelerated Depreciation | 24.9 | 3.6 | ||||||||||||
| Other Regulatory Assets Pending Final Regulatory Approval | 5.4 | 2.2 | ||||||||||||
| Regulatory Assets Currently Not Earning a Return | ||||||||||||||
| Storm-Related Costs | 144.3 | 99.3 | ||||||||||||
| Asset Retirement Obligation - Louisiana | 9.7 | 9.1 | ||||||||||||
| Other Regulatory Assets Pending Final Regulatory Approval | 16.4 | 14.5 | ||||||||||||
| Total Regulatory Assets Pending Final Regulatory Approval | $ | 852.6 | $ | 247.3 | ||||||||||
| June 30, 2021 | ||||||||||||||||||||||||||||||||
| Company | Jurisdiction | Capital | O&M | Regulatory Asset | Total | |||||||||||||||||||||||||||
| (in millions) | ||||||||||||||||||||||||||||||||
| APCo | Virginia | $ | 8.0 | $ | 2.2 | $ | 6.6 | $ | 16.8 | |||||||||||||||||||||||
| APCo | West Virginia | 22.3 | — | 42.7 | 65.0 | |||||||||||||||||||||||||||
| SWEPCo | Louisiana | 5.7 | — | 45.7 | 51.4 | |||||||||||||||||||||||||||
| KPCo | Kentucky | 28.6 | 4.2 | 42.6 | 75.4 | |||||||||||||||||||||||||||
| Total | $ | 64.6 | $ | 6.4 | $ | 137.6 | $ | 208.6 | ||||||||||||||||||||||||
| PSO | SWEPCo | Total | ||||||||||||||||||
| (in millions) | ||||||||||||||||||||
| Retail Customers (a) | $ | 669.4 | $ | 453.0 | (b) | $ | 1,122.4 | |||||||||||||
| Wholesale Customers | — | 62.8 | 62.8 | |||||||||||||||||
| Total | $ | 669.4 | $ | 515.8 | $ | 1,185.2 | ||||||||||||||
| Company | Amount | Maturity | ||||||||||||
| (in millions) | ||||||||||||||
| AEP | $ | 186.5 | July 2021 to July 2022 | |||||||||||
| AEP Texas (a) | 2.2 | July 2022 | ||||||||||||
| Company |
Maximum
Potential Loss |
|||||||
| (in millions) | ||||||||
| AEP | $ | 48.6 | ||||||
| AEP Texas | 11.4 | |||||||
| APCo | 6.3 | |||||||
| I&M | 4.2 | |||||||
| OPCo | 7.6 | |||||||
| PSO | 4.7 | |||||||
| SWEPCo | 5.3 | |||||||
| Future Minimum Lease Payments | AEP (a) | I&M | ||||||||||||
| (in millions) | ||||||||||||||
| 2021 | $ | 74.0 | $ | 37.0 | ||||||||||
| 2022 | 147.6 | 73.8 | ||||||||||||
| Total Future Minimum Lease Payments | $ | 221.6 | $ | 110.8 | ||||||||||
| Pension Plans | OPEB | ||||||||||||||||||||||
| Three Months Ended June 30, | Three Months Ended June 30, | ||||||||||||||||||||||
| 2021 | 2020 | 2021 | 2020 | ||||||||||||||||||||
| (in millions) | |||||||||||||||||||||||
| Service Cost | $ | 32.3 | $ | 28.0 | $ | 2.4 | $ | 2.5 | |||||||||||||||
| Interest Cost | 34.3 | 41.9 | 7.6 | 10.0 | |||||||||||||||||||
| Expected Return on Plan Assets | (57.4) | (66.2) | (22.8) | (24.0) | |||||||||||||||||||
| Amortization of Prior Service Credit | — | — | (17.7) | (17.5) | |||||||||||||||||||
| Amortization of Net Actuarial Loss | 25.4 | 23.4 | — | 1.5 | |||||||||||||||||||
| Net Periodic Benefit Cost (Credit) | $ | 34.6 | $ | 27.1 | $ | (30.5) | $ | (27.5) | |||||||||||||||
| Pension Plans | OPEB | ||||||||||||||||||||||
| Six Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||||||||||
| 2021 | 2020 | 2021 | 2020 | ||||||||||||||||||||
| (in millions) | |||||||||||||||||||||||
| Service Cost | $ | 64.6 | $ | 56.0 | $ | 4.8 | $ | 5.0 | |||||||||||||||
| Interest Cost | 68.6 | 83.9 | 15.2 | 19.9 | |||||||||||||||||||
| Expected Return on Plan Assets | (114.9) | (132.4) | (45.6) | (47.9) | |||||||||||||||||||
| Amortization of Prior Service Credit | — | — | (35.4) | (34.9) | |||||||||||||||||||
| Amortization of Net Actuarial Loss | 50.8 | 46.8 | — | 3.0 | |||||||||||||||||||
| Net Periodic Benefit Cost (Credit) | $ | 69.1 | $ | 54.3 | $ | (61.0) | $ | (54.9) | |||||||||||||||
| Pension Plans | OPEB | ||||||||||||||||||||||
| Three Months Ended June 30, | Three Months Ended June 30, | ||||||||||||||||||||||
| 2021 | 2020 | 2021 | 2020 | ||||||||||||||||||||
| (in millions) | |||||||||||||||||||||||
| Service Cost | $ | 2.9 | $ | 2.4 | $ | 0.1 | $ | 0.2 | |||||||||||||||
| Interest Cost | 2.8 | 3.5 | 0.6 | 0.8 | |||||||||||||||||||
| Expected Return on Plan Assets | (4.8) | (5.7) | (1.8) | (2.0) | |||||||||||||||||||
| Amortization of Prior Service Credit | — | — | (1.5) | (1.6) | |||||||||||||||||||
| Amortization of Net Actuarial Loss | 2.0 | 2.0 | — | 0.2 | |||||||||||||||||||
| Net Periodic Benefit Cost (Credit) | $ | 2.9 | $ | 2.2 | $ | (2.6) | $ | (2.4) | |||||||||||||||
| Pension Plans | OPEB | ||||||||||||||||||||||
| Six Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||||||||||
| 2021 | 2020 | 2021 | 2020 | ||||||||||||||||||||
| (in millions) | |||||||||||||||||||||||
| Service Cost | $ | 5.9 | $ | 5.0 | $ | 0.3 | $ | 0.4 | |||||||||||||||
| Interest Cost | 5.6 | 7.0 | 1.2 | 1.6 | |||||||||||||||||||
| Expected Return on Plan Assets | (9.7) | (11.4) | (3.7) | (4.0) | |||||||||||||||||||
| Amortization of Prior Service Credit | — | — | (3.0) | (3.0) | |||||||||||||||||||
| Amortization of Net Actuarial Loss | 4.1 | 3.9 | — | 0.3 | |||||||||||||||||||
| Net Periodic Benefit Cost (Credit) | $ | 5.9 | $ | 4.5 | $ | (5.2) | $ | (4.7) | |||||||||||||||
| Pension Plans | OPEB | ||||||||||||||||||||||
| Three Months Ended June 30, | Three Months Ended June 30, | ||||||||||||||||||||||
| 2021 | 2020 | 2021 | 2020 | ||||||||||||||||||||
| (in millions) | |||||||||||||||||||||||
| Service Cost | $ | 2.9 | $ | 2.6 | $ | 0.2 | $ | 0.2 | |||||||||||||||
| Interest Cost | 4.1 | 5.1 | 1.2 | 1.7 | |||||||||||||||||||
| Expected Return on Plan Assets | (7.2) | (8.4) | (3.3) | (3.7) | |||||||||||||||||||
| Amortization of Prior Service Credit | — | — | (2.6) | (2.6) | |||||||||||||||||||
| Amortization of Net Actuarial Loss | 3.0 | 2.8 | — | 0.3 | |||||||||||||||||||
| Net Periodic Benefit Cost (Credit) | $ | 2.8 | $ | 2.1 | $ | (4.5) | $ | (4.1) | |||||||||||||||
| Pension Plans | OPEB | ||||||||||||||||||||||
| Six Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||||||||||
| 2021 | 2020 | 2021 | 2020 | ||||||||||||||||||||
| (in millions) | |||||||||||||||||||||||
| Service Cost | $ | 5.9 | $ | 5.2 | $ | 0.5 | $ | 0.5 | |||||||||||||||
| Interest Cost | 8.2 | 10.2 | 2.4 | 3.3 | |||||||||||||||||||
| Expected Return on Plan Assets | (14.5) | (16.8) | (6.7) | (7.3) | |||||||||||||||||||
| Amortization of Prior Service Credit | — | — | (5.2) | (5.1) | |||||||||||||||||||
| Amortization of Net Actuarial Loss | 6.0 | 5.6 | — | 0.5 | |||||||||||||||||||
| Net Periodic Benefit Cost (Credit) | $ | 5.6 | $ | 4.2 | $ | (9.0) | $ | (8.1) | |||||||||||||||
| Pension Plans | OPEB | ||||||||||||||||||||||
| Three Months Ended June 30, | Three Months Ended June 30, | ||||||||||||||||||||||
| 2021 | 2020 | 2021 | 2020 | ||||||||||||||||||||
| (in millions) | |||||||||||||||||||||||
| Service Cost | $ | 4.3 | $ | 3.8 | $ | 0.3 | $ | 0.4 | |||||||||||||||
| Interest Cost | 4.1 | 4.9 | 0.9 | 1.1 | |||||||||||||||||||
| Expected Return on Plan Assets | (7.2) | (8.3) | (2.8) | (2.9) | |||||||||||||||||||
| Amortization of Prior Service Credit | — | — | (2.4) | (2.4) | |||||||||||||||||||
| Amortization of Net Actuarial Loss | 3.0 | 2.7 | — | 0.2 | |||||||||||||||||||
| Net Periodic Benefit Cost (Credit) | $ | 4.2 | $ | 3.1 | $ | (4.0) | $ | (3.6) | |||||||||||||||
| Pension Plans | OPEB | ||||||||||||||||||||||
| Six Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||||||||||
| 2021 | 2020 | 2021 | 2020 | ||||||||||||||||||||
| (in millions) | |||||||||||||||||||||||
| Service Cost | $ | 8.7 | $ | 7.7 | $ | 0.6 | $ | 0.7 | |||||||||||||||
| Interest Cost | 8.1 | 9.8 | 1.8 | 2.3 | |||||||||||||||||||
| Expected Return on Plan Assets | (14.4) | (16.6) | (5.6) | (5.8) | |||||||||||||||||||
| Amortization of Prior Service Credit | — | — | (4.8) | (4.8) | |||||||||||||||||||
| Amortization of Net Actuarial Loss | 5.9 | 5.4 | — | 0.4 | |||||||||||||||||||
| Net Periodic Benefit Cost (Credit) | $ | 8.3 | $ | 6.3 | $ | (8.0) | $ | (7.2) | |||||||||||||||
| Pension Plans | OPEB | ||||||||||||||||||||||
| Three Months Ended June 30, | Three Months Ended June 30, | ||||||||||||||||||||||
| 2021 | 2020 | 2021 | 2020 | ||||||||||||||||||||
| (in millions) | |||||||||||||||||||||||
| Service Cost | $ | 2.8 | $ | 2.4 | $ | 0.2 | $ | 0.3 | |||||||||||||||
| Interest Cost | 3.1 | 3.8 | 0.8 | 1.1 | |||||||||||||||||||
| Expected Return on Plan Assets | (5.5) | (6.5) | (2.5) | (2.7) | |||||||||||||||||||
| Amortization of Prior Service Credit | — | — | (1.8) | (1.7) | |||||||||||||||||||
| Amortization of Net Actuarial Loss | 2.3 | 2.2 | — | 0.1 | |||||||||||||||||||
| Net Periodic Benefit Cost (Credit) | $ | 2.7 | $ | 1.9 | $ | (3.3) | $ | (2.9) | |||||||||||||||
| Pension Plans | OPEB | ||||||||||||||||||||||
| Six Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||||||||||
| 2021 | 2020 | 2021 | 2020 | ||||||||||||||||||||
| (in millions) | |||||||||||||||||||||||
| Service Cost | $ | 5.7 | $ | 4.8 | $ | 0.4 | $ | 0.5 | |||||||||||||||
| Interest Cost | 6.2 | 7.7 | 1.6 | 2.1 | |||||||||||||||||||
| Expected Return on Plan Assets | (11.1) | (13.1) | (4.9) | (5.3) | |||||||||||||||||||
| Amortization of Prior Service Credit | — | — | (3.6) | (3.5) | |||||||||||||||||||
| Amortization of Net Actuarial Loss | 4.5 | 4.3 | — | 0.3 | |||||||||||||||||||
| Net Periodic Benefit Cost (Credit) | $ | 5.3 | $ | 3.7 | $ | (6.5) | $ | (5.9) | |||||||||||||||
| Pension Plans | OPEB | ||||||||||||||||||||||
| Three Months Ended June 30, | Three Months Ended June 30, | ||||||||||||||||||||||
| 2021 | 2020 | 2021 | 2020 | ||||||||||||||||||||
| (in millions) | |||||||||||||||||||||||
| Service Cost | $ | 2.1 | $ | 1.8 | $ | 0.1 | $ | 0.1 | |||||||||||||||
| Interest Cost | 1.6 | 2.2 | 0.4 | 0.5 | |||||||||||||||||||
| Expected Return on Plan Assets | (3.1) | (3.7) | (1.2) | (1.3) | |||||||||||||||||||
| Amortization of Prior Service Credit | — | — | (1.1) | (1.1) | |||||||||||||||||||
| Amortization of Net Actuarial Loss | 1.2 | 1.2 | — | 0.1 | |||||||||||||||||||
| Net Periodic Benefit Cost (Credit) | $ | 1.8 | $ | 1.5 | $ | (1.8) | $ | (1.7) | |||||||||||||||
| Pension Plans | OPEB | ||||||||||||||||||||||
| Six Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||||||||||
| 2021 | 2020 | 2021 | 2020 | ||||||||||||||||||||
| (in millions) | |||||||||||||||||||||||
| Service Cost | $ | 4.0 | $ | 3.6 | $ | 0.3 | $ | 0.3 | |||||||||||||||
| Interest Cost | 3.3 | 4.3 | 0.8 | 1.0 | |||||||||||||||||||
| Expected Return on Plan Assets | (6.2) | (7.3) | (2.5) | (2.6) | |||||||||||||||||||
| Amortization of Prior Service Credit | — | — | (2.2) | (2.2) | |||||||||||||||||||
| Amortization of Net Actuarial Loss | 2.5 | 2.4 | — | 0.2 | |||||||||||||||||||
| Net Periodic Benefit Cost (Credit) | $ | 3.6 | $ | 3.0 | $ | (3.6) | $ | (3.3) | |||||||||||||||
| Pension Plans | OPEB | ||||||||||||||||||||||
| Three Months Ended June 30, | Three Months Ended June 30, | ||||||||||||||||||||||
| 2021 | 2020 | 2021 | 2020 | ||||||||||||||||||||
| (in millions) | |||||||||||||||||||||||
| Service Cost | $ | 2.8 | $ | 2.4 | $ | 0.2 | $ | 0.2 | |||||||||||||||
| Interest Cost | 2.1 | 2.6 | 0.5 | 0.7 | |||||||||||||||||||
| Expected Return on Plan Assets | (3.4) | (3.9) | (1.5) | (1.7) | |||||||||||||||||||
| Amortization of Prior Service Credit | — | — | (1.3) | (1.3) | |||||||||||||||||||
| Amortization of Net Actuarial Loss | 1.6 | 1.4 | — | 0.1 | |||||||||||||||||||
| Net Periodic Benefit Cost (Credit) | $ | 3.1 | $ | 2.5 | $ | (2.1) | $ | (2.0) | |||||||||||||||
| Pension Plans | OPEB | ||||||||||||||||||||||
| Six Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||||||||||
| 2021 | 2020 | 2021 | 2020 | ||||||||||||||||||||
| (in millions) | |||||||||||||||||||||||
| Service Cost | $ | 5.7 | $ | 4.9 | $ | 0.3 | $ | 0.4 | |||||||||||||||
| Interest Cost | 4.2 | 5.1 | 1.0 | 1.3 | |||||||||||||||||||
| Expected Return on Plan Assets | (6.8) | (7.8) | (3.0) | (3.2) | |||||||||||||||||||
| Amortization of Prior Service Credit | — | — | (2.6) | (2.6) | |||||||||||||||||||
| Amortization of Net Actuarial Loss | 3.1 | 2.8 | — | 0.2 | |||||||||||||||||||
| Net Periodic Benefit Cost (Credit) | $ | 6.2 | $ | 5.0 | $ | (4.3) | $ | (3.9) | |||||||||||||||
| Three Months Ended June 30, 2021 | |||||||||||||||||||||||||||||||||||||||||
| Vertically Integrated Utilities | Transmission and Distribution Utilities | AEP Transmission Holdco |
Generation
& Marketing |
Corporate and Other (a) | Reconciling Adjustments | Consolidated | |||||||||||||||||||||||||||||||||||
| (in millions) | |||||||||||||||||||||||||||||||||||||||||
| Revenues from: | |||||||||||||||||||||||||||||||||||||||||
|
External Customers
|
$ | 2,224.6 | $ | 1,089.6 | $ | 86.4 | $ | 422.5 | $ | 3.4 | $ | — | $ | 3,826.5 | |||||||||||||||||||||||||||
|
Other Operating Segments
|
36.0 | 13.8 | 291.8 | 14.1 | 12.1 | (367.8) | — | ||||||||||||||||||||||||||||||||||
| Total Revenues | $ | 2,260.6 | $ | 1,103.4 | $ | 378.2 | $ | 436.6 | $ | 15.5 | $ | (367.8) | $ | 3,826.5 | |||||||||||||||||||||||||||
|
Net Income (Loss)
|
$ | 228.8 | $ | 153.7 | $ | 169.6 | $ | 46.5 | $ | (24.8) | $ | — | $ | 573.8 | |||||||||||||||||||||||||||
| Three Months Ended June 30, 2020 | |||||||||||||||||||||||||||||||||||||||||
| Vertically Integrated Utilities | Transmission and Distribution Utilities | AEP Transmission Holdco |
Generation
& Marketing |
Corporate and Other (a) | Reconciling Adjustments | Consolidated | |||||||||||||||||||||||||||||||||||
| (in millions) | |||||||||||||||||||||||||||||||||||||||||
| Revenues from: | |||||||||||||||||||||||||||||||||||||||||
|
External Customers
|
$ | 2,062.3 | $ | 1,009.4 | $ | 69.2 | $ | 350.2 | $ | 2.9 | $ | — | $ | 3,494.0 | |||||||||||||||||||||||||||
|
Other Operating Segments
|
29.7 | 25.1 | 180.5 | 26.7 | 16.6 | (278.6) | — | ||||||||||||||||||||||||||||||||||
| Total Revenues | $ | 2,092.0 | $ | 1,034.5 | $ | 249.7 | $ | 376.9 | $ | 19.5 | $ | (278.6) | $ | 3,494.0 | |||||||||||||||||||||||||||
|
Net Income (Loss)
|
$ | 256.3 | $ | 139.5 | $ | 92.2 | $ | 58.5 | $ | (32.0) | $ | — | $ | 514.5 | |||||||||||||||||||||||||||
| Six Months Ended June 30, 2021 | |||||||||||||||||||||||||||||||||||||||||
| Vertically Integrated Utilities | Transmission and Distribution Utilities | AEP Transmission Holdco |
Generation
& Marketing |
Corporate and Other (a) | Reconciling Adjustments | Consolidated | |||||||||||||||||||||||||||||||||||
| (in millions) | |||||||||||||||||||||||||||||||||||||||||
| Revenues from: | |||||||||||||||||||||||||||||||||||||||||
|
External Customers
|
$ | 4,729.1 | $ | 2,171.9 | $ | 174.3 | $ | 1,024.2 | $ | 8.1 | $ | — | $ | 8,107.6 | |||||||||||||||||||||||||||
|
Other Operating Segments
|
68.8 | 19.6 | 580.9 | 46.6 | 20.3 | (736.2) | — | ||||||||||||||||||||||||||||||||||
| Total Revenues | $ | 4,797.9 | $ | 2,191.5 | $ | 755.2 | $ | 1,070.8 | $ | 28.4 | $ | (736.2) | $ | 8,107.6 | |||||||||||||||||||||||||||
|
Net Income (Loss)
|
$ | 500.2 | $ | 268.1 | $ | 342.8 | $ | 84.7 | $ | (43.2) | $ | — | $ | 1,152.6 | |||||||||||||||||||||||||||
| Six Months Ended June 30, 2020 | |||||||||||||||||||||||||||||||||||||||||
| Vertically Integrated Utilities | Transmission and Distribution Utilities | AEP Transmission Holdco |
Generation
& Marketing |
Corporate and Other (a) | Reconciling Adjustments | Consolidated | |||||||||||||||||||||||||||||||||||
| (in millions) | |||||||||||||||||||||||||||||||||||||||||
| Revenues from: | |||||||||||||||||||||||||||||||||||||||||
|
External Customers
|
$ | 4,255.3 | $ | 2,084.6 | $ | 142.3 | $ | 758.6 | $ | 0.7 | $ | — | $ | 7,241.5 | |||||||||||||||||||||||||||
|
Other Operating Segments
|
63.4 | 56.8 | 417.6 | 56.9 | 38.7 | (633.4) | — | ||||||||||||||||||||||||||||||||||
| Total Revenues | $ | 4,318.7 | $ | 2,141.4 | $ | 559.9 | $ | 815.5 | $ | 39.4 | $ | (633.4) | $ | 7,241.5 | |||||||||||||||||||||||||||
|
Net Income (Loss)
|
$ | 502.6 | $ | 255.7 | $ | 233.8 | $ | 89.0 | $ | (67.3) | $ | — | $ | 1,013.8 | |||||||||||||||||||||||||||
| June 30, 2021 | ||||||||||||||||||||||||||||||||||||||||||||
| Vertically Integrated Utilities | Transmission and Distribution Utilities | AEP Transmission Holdco |
Generation
& Marketing |
Corporate and Other (a) |
Reconciling
Adjustments |
Consolidated | ||||||||||||||||||||||||||||||||||||||
| (in millions) | ||||||||||||||||||||||||||||||||||||||||||||
|
Total Property, Plant and Equipment
|
$ | 50,135.7 | $ | 21,833.8 | $ | 12,551.5 | $ | 2,122.5 | $ | 412.8 | $ | — | $ | 87,056.3 | ||||||||||||||||||||||||||||||
|
Accumulated Depreciation and Amortization
|
16,293.8 | 4,004.9 | 703.1 | 202.7 | 187.3 | — | 21,391.8 | |||||||||||||||||||||||||||||||||||||
|
Total Property Plant and Equipment - Net
|
$ | 33,841.9 | $ | 17,828.9 | $ | 11,848.4 | $ | 1,919.8 | $ | 225.5 | $ | — | $ | 65,664.5 | ||||||||||||||||||||||||||||||
| Total Assets | $ | 45,225.0 | $ | 20,369.0 | $ | 13,231.7 | $ | 3,963.1 | $ | 5,766.8 | (b) | $ | (4,197.4) | (c) | $ | 84,358.2 | ||||||||||||||||||||||||||||
|
Long-term Debt Due Within One Year:
|
||||||||||||||||||||||||||||||||||||||||||||
| Nonaffiliated | $ | 1,205.3 | $ | 789.9 | $ | 52.4 | $ | — | $ | 410.9 | (d) | $ | — | $ | 2,458.5 | |||||||||||||||||||||||||||||
|
Long-term Debt:
|
||||||||||||||||||||||||||||||||||||||||||||
| Affiliated | 65.0 | — | — | — | — | (65.0) | — | |||||||||||||||||||||||||||||||||||||
| Nonaffiliated | 13,400.6 | 7,312.8 | 4,093.2 | — | 5,852.7 | (d) | — | 30,659.3 | ||||||||||||||||||||||||||||||||||||
|
Total Long-term Debt
|
$ | 14,670.9 | $ | 8,102.7 | $ | 8,238.8 | $ | — | $ | 6,263.6 | (d) | $ | (65.0) | $ | 33,117.8 | |||||||||||||||||||||||||||||
| December 31, 2020 | ||||||||||||||||||||||||||||||||||||||||||||
| Vertically Integrated Utilities | Transmission and Distribution Utilities | AEP Transmission Holdco |
Generation
& Marketing |
Corporate and Other (a) |
Reconciling
Adjustments |
Consolidated | ||||||||||||||||||||||||||||||||||||||
| (in millions) | ||||||||||||||||||||||||||||||||||||||||||||
|
Total Property, Plant and Equipment
|
$ | 49,023.3 | $ | 21,145.0 | $ | 11,827.2 | $ | 1,910.2 | $ | 407.3 | $ | — | $ | 84,313.0 | ||||||||||||||||||||||||||||||
|
Accumulated Depreciation and Amortization
|
15,586.2 | 3,879.3 | 595.7 | 166.1 | 184.1 | — | 20,411.4 | |||||||||||||||||||||||||||||||||||||
|
Total Property Plant and Equipment - Net
|
$ | 33,437.1 | $ | 17,265.7 | $ | 11,231.5 | $ | 1,744.1 | $ | 223.2 | $ | — | $ | 63,901.6 | ||||||||||||||||||||||||||||||
| Total Assets | $ | 42,752.7 | $ | 19,765.9 | $ | 12,627.3 | $ | 3,585.9 | $ | 5,987.1 | (b) | $ | (3,961.7) | (c) | $ | 80,757.2 | ||||||||||||||||||||||||||||
|
Long-term Debt Due Within One Year:
|
||||||||||||||||||||||||||||||||||||||||||||
| Nonaffiliated | $ | 1,034.6 | $ | 588.8 | $ | 52.3 | $ | — | $ | 410.4 | (d) | $ | — | $ | 2,086.1 | |||||||||||||||||||||||||||||
|
Long-term Debt:
|
||||||||||||||||||||||||||||||||||||||||||||
| Affiliated | 65.0 | — | — | — | — | (65.0) | — | |||||||||||||||||||||||||||||||||||||
| Nonaffiliated | 12,375.6 | 6,661.9 | 4,075.7 | — | 5,873.2 | (d) | — | 28,986.4 | ||||||||||||||||||||||||||||||||||||
|
Total Long-term Debt
|
$ | 13,475.2 | $ | 7,250.7 | $ | 4,128.0 | $ | — | $ | 6,283.6 | (d) | $ | (65.0) | $ | 31,072.5 | |||||||||||||||||||||||||||||
| Three Months Ended June 30, 2021 | |||||||||||||||||||||||
| State Transcos | AEPTCo Parent | Reconciling Adjustments |
AEPTCo
Consolidated |
||||||||||||||||||||
| (in millions) | |||||||||||||||||||||||
| Revenues from: | |||||||||||||||||||||||
|
External Customers
|
$ | 84.1 | $ | — | $ | — | $ | 84.1 | |||||||||||||||
|
Sales to AEP Affiliates
|
281.4 | — | — | 281.4 | |||||||||||||||||||
| Total Revenues | $ | 365.5 | $ | — | $ | — | $ | 365.5 | |||||||||||||||
|
Interest Income
|
$ | — | $ | 38.4 | $ | (38.3) | (a) | $ | 0.1 | ||||||||||||||
|
Interest Expense
|
34.3 | 38.2 | (38.2) | (a) | 34.3 | ||||||||||||||||||
| Income Tax Expense | 39.1 | — | — | 39.1 | |||||||||||||||||||
| Net Income | $ | 148.5 | $ | 0.1 | (b) | $ | — | $ | 148.6 | ||||||||||||||
| Three Months Ended June 30, 2020 | |||||||||||||||||||||||
| State Transcos | AEPTCo Parent | Reconciling Adjustments |
AEPTCo
Consolidated |
||||||||||||||||||||
| (in millions) | |||||||||||||||||||||||
| Revenues from: | |||||||||||||||||||||||
|
External Customers
|
$ | 60.4 | $ | — | $ | — | $ | 60.4 | |||||||||||||||
|
Sales to AEP Affiliates
|
177.7 | — | — | 177.7 | |||||||||||||||||||
| Total Revenues | $ | 238.1 | $ | — | $ | — | $ | 238.1 | |||||||||||||||
|
Interest Income
|
$ | 0.7 | $ | 38.9 | $ | (38.3) | (a) | $ | 1.3 | ||||||||||||||
|
Interest Expense
|
32.8 | 38.3 | (38.3) | (a) | 32.8 | ||||||||||||||||||
| Income Tax Expense | 19.2 | 0.1 | — | 19.3 | |||||||||||||||||||
| Net Income | $ | 73.2 | $ | 0.5 | (b) | $ | — | $ | 73.7 | ||||||||||||||
| Six Months Ended June 30, 2021 | |||||||||||||||||||||||
| State Transcos | AEPTCo Parent | Reconciling Adjustments | AEPTCo Consolidated | ||||||||||||||||||||
| (in millions) | |||||||||||||||||||||||
| Revenues from: | |||||||||||||||||||||||
| External Customers | $ | 160.1 | $ | — | $ | — | $ | 160.1 | |||||||||||||||
| Sales to AEP Affiliates | 567.0 | — | — | 567.0 | |||||||||||||||||||
| Other Revenues | 0.1 | — | — | 0.1 | |||||||||||||||||||
| Total Revenues | $ | 727.2 | $ | — | $ | — | $ | 727.2 | |||||||||||||||
| Interest Income | $ | — | $ | 76.7 | $ | (76.5) | (a) | $ | 0.2 | ||||||||||||||
| Interest Expense | 68.4 | 76.4 | (76.4) | (a) | 68.4 | ||||||||||||||||||
| Income Tax Expense | 78.7 | — | — | 78.7 | |||||||||||||||||||
| Net Income | $ | 300.2 | $ | 0.1 | (b) | $ | — | $ | 300.3 | ||||||||||||||
| Six Months Ended June 30, 2020 | |||||||||||||||||||||||
| State Transcos | AEPTCo Parent | Reconciling Adjustments | AEPTCo Consolidated | ||||||||||||||||||||
| (in millions) | |||||||||||||||||||||||
| Revenues from: | |||||||||||||||||||||||
| External Customers | $ | 121.7 | $ | — | $ | — | $ | 121.7 | |||||||||||||||
| Sales to AEP Affiliates | 411.4 | — | — | 411.4 | |||||||||||||||||||
| Other Revenues | 0.6 | — | — | 0.6 | |||||||||||||||||||
| Total Revenues | $ | 533.7 | $ | — | $ | — | $ | 533.7 | |||||||||||||||
| Interest Income | $ | 0.9 | $ | 72.9 | $ | (71.7) | (a) | $ | 2.1 | ||||||||||||||
| Interest Expense | 62.4 | 71.7 | (71.7) | (a) | 62.4 | ||||||||||||||||||
| Income Tax Expense | 51.0 | 0.1 | — | 51.1 | |||||||||||||||||||
| Net Income | $ | 190.5 | $ | 1.0 | (b) | $ | — | $ | 191.5 | ||||||||||||||
| June 30, 2021 | |||||||||||||||||||||||
| State Transcos | AEPTCo Parent | Reconciling Adjustments |
AEPTCo
Consolidated |
||||||||||||||||||||
| (in millions) | |||||||||||||||||||||||
| Total Transmission Property | $ | 12,053.6 | $ | — | $ | — | $ | 12,053.6 | |||||||||||||||
| Accumulated Depreciation and Amortization | 677.1 | — | — | 677.1 | |||||||||||||||||||
| Total Transmission Property – Net | $ | 11,376.5 | $ | — | $ | — | $ | 11,376.5 | |||||||||||||||
| Notes Receivable - Affiliated | $ | — | $ | 3,899.3 | $ | (3,899.3) | (c) | $ | — | ||||||||||||||
| Total Assets | $ | 11,730.6 | $ | 4,083.6 | (d) | $ | (4,023.9) | (e) | $ | 11,790.3 | |||||||||||||
| Total Long-term Debt | $ | 3,990.0 | $ | 3,949.3 | $ | (3,990.0) | (c) | $ | 3,949.3 | ||||||||||||||
| December 31, 2020 | |||||||||||||||||||||||
| State Transcos | AEPTCo Parent | Reconciling Adjustments |
AEPTCo
Consolidated |
||||||||||||||||||||
| (in millions) | |||||||||||||||||||||||
|
Total Transmission Property
|
$ | 11,345.6 | $ | — | $ | — | $ | 11,345.6 | |||||||||||||||
|
Accumulated Depreciation and Amortization
|
572.8 | — | — | 572.8 | |||||||||||||||||||
|
Total Transmission Property – Net
|
$ | 10,772.8 | $ | — | $ | — | $ | 10,772.8 | |||||||||||||||
| Notes Receivable - Affiliated | $ | — | $ | 3,948.5 | $ | (3,948.5) | (c) | $ | — | ||||||||||||||
| Total Assets | $ | 11,185.1 | $ | 4,084.0 | (d) | $ | (4,023.1) | (e) | $ | 11,246.0 | |||||||||||||
|
Total Long-term Debt
|
$ | 3,990.0 | $ | 3,948.5 | $ | (3,990.0) | (c) | $ | 3,948.5 | ||||||||||||||
|
Primary Risk
Exposure |
Unit of
Measure |
AEP | AEP Texas | APCo | I&M | OPCo | PSO | SWEPCo | ||||||||||||||||||||||||||||||||||||||||||
| (in millions) | ||||||||||||||||||||||||||||||||||||||||||||||||||
|
Commodity:
|
||||||||||||||||||||||||||||||||||||||||||||||||||
| Power | MWhs | 412.5 | — | 77.9 | 32.4 | 2.8 | 26.8 | 7.2 | ||||||||||||||||||||||||||||||||||||||||||
| Natural Gas | MMBtus | 24.3 | — | — | — | — | — | 6.1 | ||||||||||||||||||||||||||||||||||||||||||
| Heating Oil and Gasoline | Gallons | 9.7 | 2.5 | 1.5 | 0.9 | 1.9 | 1.1 | 1.3 | ||||||||||||||||||||||||||||||||||||||||||
|
Interest Rate
|
USD | $ | 123.6 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||||||||||||||||||||
|
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 | 331.3 | — | 46.9 | 19.7 | 3.0 | 11.9 | 4.0 | ||||||||||||||||||||||||||||||||||||||||||
| Natural Gas | MMBtus | 26.9 | — | — | — | — | — | 7.9 | ||||||||||||||||||||||||||||||||||||||||||
| Heating Oil and Gasoline | Gallons | 6.9 | 1.8 | 1.1 | 0.6 | 1.4 | 0.7 | 0.9 | ||||||||||||||||||||||||||||||||||||||||||
| Interest Rate | USD | $ | 129.8 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||||||||||||||||||||
|
Interest Rate on Long-term Debt
|
USD | $ | 1,150.0 | $ | — | $ | 200.0 | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||||||||||||||||||||
| June 30, 2021 | December 31, 2020 | |||||||||||||||||||||||||
| Cash Collateral | Cash Collateral | Cash Collateral | Cash Collateral | |||||||||||||||||||||||
| Received | Paid | Received | Paid | |||||||||||||||||||||||
| Netted Against | Netted Against | Netted Against | Netted Against | |||||||||||||||||||||||
| Risk Management | Risk Management | Risk Management | Risk Management | |||||||||||||||||||||||
| Company | Assets | Liabilities | Assets | Liabilities | ||||||||||||||||||||||
| (in millions) | ||||||||||||||||||||||||||
| AEP | $ | 105.4 | $ | 12.4 | $ | 3.4 | $ | 6.8 | ||||||||||||||||||
| APCo | 0.7 | 5.3 | 0.4 | — | ||||||||||||||||||||||
| I&M | 0.3 | 4.5 | 1.7 | — | ||||||||||||||||||||||
| June 30, 2021 | ||||||||||||||||||||||||||||||||||||||
|
Risk
Management Contracts |
Hedging Contracts |
Gross Amounts
of Risk Management Assets/ Liabilities Recognized |
Gross
Amounts Offset in the Statement of Financial Position (b) |
Net Amounts of
Assets/Liabilities Presented in the Statement of Financial Position (c) |
||||||||||||||||||||||||||||||||||
| Balance Sheet Location | Commodity (a) | Commodity (a) | Interest Rate (a) | |||||||||||||||||||||||||||||||||||
| (in millions) | ||||||||||||||||||||||||||||||||||||||
| Current Risk Management Assets | $ | 441.7 | $ | 128.3 | $ | 3.2 | $ | 573.2 | $ | (358.5) | $ | 214.7 | ||||||||||||||||||||||||||
| Long-term Risk Management Assets | 276.6 | 52.8 | — | 329.4 | (88.1) | 241.3 | ||||||||||||||||||||||||||||||||
| Total Assets | 718.3 | 181.1 | 3.2 | 902.6 | (446.6) | 456.0 | ||||||||||||||||||||||||||||||||
| Current Risk Management Liabilities | 318.2 | 23.4 | — | 341.6 | (293.8) | 47.8 | ||||||||||||||||||||||||||||||||
| Long-term Risk Management Liabilities | 229.7 | 18.0 | 28.4 | 276.1 | (59.8) | 216.3 | ||||||||||||||||||||||||||||||||
| Total Liabilities | 547.9 | 41.4 | 28.4 | 617.7 | (353.6) | 264.1 | ||||||||||||||||||||||||||||||||
|
Total MTM Derivative Contract Net Assets (Liabilities)
|
$ | 170.4 | $ | 139.7 | $ | (25.2) | $ | 284.9 | $ | (93.0) | $ | 191.9 | ||||||||||||||||||||||||||
| December 31, 2020 | ||||||||||||||||||||||||||||||||||||||
|
Risk
Management Contracts |
Hedging Contracts |
Gross Amounts
of Risk Management Assets/ Liabilities Recognized |
Gross
Amounts Offset in the Statement of Financial Position (b) |
Net Amounts of
Assets/Liabilities Presented in the Statement of Financial Position (c) |
||||||||||||||||||||||||||||||||||
| Balance Sheet Location | Commodity (a) | Commodity (a) | Interest Rate (a) | |||||||||||||||||||||||||||||||||||
| (in millions) | ||||||||||||||||||||||||||||||||||||||
| Current Risk Management Assets | $ | 239.1 | $ | 21.1 | $ | 5.0 | $ | 265.2 | $ | (170.5) | $ | 94.7 | ||||||||||||||||||||||||||
| Long-term Risk Management Assets | 275.9 | 18.0 | — | 293.9 | (51.7) | 242.2 | ||||||||||||||||||||||||||||||||
| Total Assets | 515.0 | 39.1 | 5.0 | 559.1 | (222.2) | 336.9 | ||||||||||||||||||||||||||||||||
| Current Risk Management Liabilities | 193.0 | 54.4 | 3.4 | 250.8 | (172.0) | 78.8 | ||||||||||||||||||||||||||||||||
| Long-term Risk Management Liabilities | 222.2 | 60.1 | 4.1 | 286.4 | (53.6) | 232.8 | ||||||||||||||||||||||||||||||||
| Total Liabilities | 415.2 | 114.5 | 7.5 | 537.2 | (225.6) | 311.6 | ||||||||||||||||||||||||||||||||
|
Total MTM Derivative Contract Net Assets (Liabilities)
|
$ | 99.8 | $ | (75.4) | $ | (2.5) | $ | 21.9 | $ | 3.4 | $ | 25.3 | ||||||||||||||||||||||||||
| June 30, 2021 | ||||||||||||||||||||
| 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 | $ | 1.0 | $ | (1.0) | $ | — | ||||||||||||||
| Long-term Risk Management Assets | 0.1 | (0.1) | — | |||||||||||||||||
| Total Assets | 1.1 | (1.1) | — | |||||||||||||||||
| Current Risk Management Liabilities | — | — | — | |||||||||||||||||
| Long-term Risk Management Liabilities | — | — | — | |||||||||||||||||
| Total Liabilities | — | — | — | |||||||||||||||||
| Total MTM Derivative Contract Net Assets (Liabilities) | $ | 1.1 | $ | (1.1) | $ | — | ||||||||||||||
| December 31, 2020 | ||||||||||||||||||||
| 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 | $ | 0.4 | $ | (0.4) | $ | — | ||||||||||||||
| Long-term Risk Management Assets | — | — | — | |||||||||||||||||
| Total Assets | 0.4 | (0.4) | — | |||||||||||||||||
| Current Risk Management Liabilities | — | — | — | |||||||||||||||||
| Long-term Risk Management Liabilities | — | — | — | |||||||||||||||||
| Total Liabilities | — | — | — | |||||||||||||||||
| Total MTM Derivative Contract Net Assets (Liabilities) | $ | 0.4 | $ | (0.4) | $ | — | ||||||||||||||
| June 30, 2021 | ||||||||||||||||||||||||||||||||
| Risk Management | Gross Amounts Offset | Net Amounts of Assets/Liabilities | ||||||||||||||||||||||||||||||
| Contracts – | in the Statement of | Presented in the Statement | ||||||||||||||||||||||||||||||
| Balance Sheet Location | Commodity (a) | Financial Position (b) | of Financial Position (c) | |||||||||||||||||||||||||||||
| (in millions) | ||||||||||||||||||||||||||||||||
| Current Risk Management Assets | $ | 64.2 | $ | (27.1) | $ | 37.1 | ||||||||||||||||||||||||||
| Deferred Charges and Other Noncurrent Assets - Long-term Risk Management Assets | 0.1 | (0.1) | — | |||||||||||||||||||||||||||||
| Total Assets | 64.3 | (27.2) | 37.1 | |||||||||||||||||||||||||||||
| Other Current Liabilities - Current Risk Management Liabilities | 33.2 | (31.8) | 1.4 | |||||||||||||||||||||||||||||
| Deferred Credits and Other Noncurrent Liabilities - Long-term Risk Management Liabilities | — | — | — | |||||||||||||||||||||||||||||
| Total Liabilities | 33.2 | (31.8) | 1.4 | |||||||||||||||||||||||||||||
| Total MTM Derivative Contract Net Assets | $ | 31.1 | $ | 4.6 | $ | 35.7 | ||||||||||||||||||||||||||
| December 31, 2020 | ||||||||||||||||||||||||||||||||
| Gross Amounts | ||||||||||||||||||||||||||||||||
| Risk | of Risk | Gross Amounts | Net Amounts of Assets/ | |||||||||||||||||||||||||||||
| Management | Hedging | Management | Offset in the | Liabilities Presented in | ||||||||||||||||||||||||||||
| Contracts – | Contracts – | Assets/Liabilities | Statement of | the Statement of | ||||||||||||||||||||||||||||
| Balance Sheet Location | Commodity (a) | Interest Rate (a) | Recognized | Financial Position (b) | Financial Position (c) | |||||||||||||||||||||||||||
| (in millions) | ||||||||||||||||||||||||||||||||
| Current Risk Management Assets | $ | 38.8 | $ | 2.4 | $ | 41.2 | $ | (18.8) | $ | 22.4 | ||||||||||||||||||||||
| Deferred Charges and Other Noncurrent Assets - Long-term Risk Management Assets | 0.7 | — | 0.7 | (0.6) | 0.1 | |||||||||||||||||||||||||||
| Total Assets | 39.5 | 2.4 | 41.9 | (19.4) | 22.5 | |||||||||||||||||||||||||||
| Other Current Liabilities - Current Risk Management Liabilities | 19.7 | 3.4 | 23.1 | (18.5) | 4.6 | |||||||||||||||||||||||||||
| Deferred Credits and Other Noncurrent Liabilities - Long-term Risk Management Liabilities | 0.6 | — | 0.6 | (0.5) | 0.1 | |||||||||||||||||||||||||||
| Total Liabilities | 20.3 | 3.4 | 23.7 | (19.0) | 4.7 | |||||||||||||||||||||||||||
| Total MTM Derivative Contract Net Assets (Liabilities) | $ | 19.2 | $ | (1.0) | $ | 18.2 | $ | (0.4) | $ | 17.8 | ||||||||||||||||||||||
| June 30, 2021 | ||||||||||||||||||||
| 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 | $ | 25.9 | $ | (18.2) | $ | 7.7 | ||||||||||||||
| Deferred Charges and Other Noncurrent Assets - Long-term Risk Management Assets | — | — | — | |||||||||||||||||
| Total Assets | 25.9 | (18.2) | 7.7 | |||||||||||||||||
| Current Risk Management Liabilities | 23.5 | (22.4) | 1.1 | |||||||||||||||||
| Deferred Credits and Other Noncurrent Liabilities - Long-term Risk Management Liabilities | — | — | — | |||||||||||||||||
| Total Liabilities | 23.5 | (22.4) | 1.1 | |||||||||||||||||
| Total MTM Derivative Contract Net Assets | $ | 2.4 | $ | 4.2 | $ | 6.6 | ||||||||||||||
| December 31, 2020 | ||||||||||||||||||||
| 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 | $ | 17.2 | $ | (13.6) | $ | 3.6 | ||||||||||||||
| Deferred Charges and Other Noncurrent Assets - Long-term Risk Management Assets | 0.5 | (0.4) | 0.1 | |||||||||||||||||
| Total Assets | 17.7 | (14.0) | 3.7 | |||||||||||||||||
| Current Risk Management Liabilities | 12.1 | (12.0) | 0.1 | |||||||||||||||||
| Deferred Credits and Other Noncurrent Liabilities - Long-term Risk Management Liabilities | 0.4 | (0.3) | 0.1 | |||||||||||||||||
| Total Liabilities | 12.5 | (12.3) | 0.2 | |||||||||||||||||
| Total MTM Derivative Contract Net Assets (Liabilities) | $ | 5.2 | $ | (1.7) | $ | 3.5 | ||||||||||||||
| June 30, 2021 | ||||||||||||||||||||
| 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 | $ | 0.7 | $ | (0.7) | $ | — | ||||||||||||||
| Long-term Risk Management Assets | 0.1 | (0.1) | — | |||||||||||||||||
| Total Assets | 0.8 | (0.8) | — | |||||||||||||||||
| Current Risk Management Liabilities | 7.3 | — | 7.3 | |||||||||||||||||
| Long-term Risk Management Liabilities | 98.2 | — | 98.2 | |||||||||||||||||
| Total Liabilities | 105.5 | — | 105.5 | |||||||||||||||||
| Total MTM Derivative Contract Net Liabilities | $ | (104.7) | $ | (0.8) | $ | (105.5) | ||||||||||||||
| December 31, 2020 | ||||||||||||||||||||
| 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 | $ | 0.3 | $ | (0.3) | $ | — | ||||||||||||||
| Long-term Risk Management Assets | — | — | — | |||||||||||||||||
| Total Assets | 0.3 | (0.3) | — | |||||||||||||||||
| Current Risk Management Liabilities | 8.7 | — | 8.7 | |||||||||||||||||
| Long-term Risk Management Liabilities | 101.6 | — | 101.6 | |||||||||||||||||
| Total Liabilities | 110.3 | — | 110.3 | |||||||||||||||||
| Total MTM Derivative Contract Net Liabilities | $ | (110.0) | $ | (0.3) | $ | (110.3) | ||||||||||||||
| June 30, 2021 | ||||||||||||||||||||
| 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 | $ | 23.5 | $ | (0.5) | $ | 23.0 | ||||||||||||||
| Long-term Risk Management Assets | — | — | — | |||||||||||||||||
| Total Assets | 23.5 | (0.5) | 23.0 | |||||||||||||||||
| Other Current Liabilities - Current Risk Management Liabilities | 0.2 | (0.1) | 0.1 | |||||||||||||||||
| Long-term Risk Management Liabilities | — | — | — | |||||||||||||||||
| Total Liabilities | 0.2 | (0.1) | 0.1 | |||||||||||||||||
| Total MTM Derivative Contract Net Assets (Liabilities) | $ | 23.3 | $ | (0.4) | $ | 22.9 | ||||||||||||||
| December 31, 2020 | ||||||||||||||||||||
| 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 | $ | 10.5 | $ | (0.2) | $ | 10.3 | ||||||||||||||
| Long-term Risk Management Assets | — | — | — | |||||||||||||||||
| Total Assets | 10.5 | (0.2) | 10.3 | |||||||||||||||||
| Other Current Liabilities - Current Risk Management Liabilities | — | — | — | |||||||||||||||||
| Long-term Risk Management Liabilities | — | — | — | |||||||||||||||||
| Total Liabilities | — | — | — | |||||||||||||||||
| Total MTM Derivative Contract Net Assets (Liabilities) | $ | 10.5 | $ | (0.2) | $ | 10.3 | ||||||||||||||
| June 30, 2021 | ||||||||||||||||||||
| 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 | $ | 14.9 | $ | (0.9) | $ | 14.0 | ||||||||||||||
| Long-term Risk Management Assets | 0.7 | (0.1) | 0.6 | |||||||||||||||||
| Total Assets | 15.6 | (1.0) | 14.6 | |||||||||||||||||
| Current Risk Management Liabilities | 0.4 | (0.4) | — | |||||||||||||||||
| Long-term Risk Management Liabilities | — | — | — | |||||||||||||||||
| Total Liabilities | 0.4 | (0.4) | — | |||||||||||||||||
| Total MTM Derivative Contract Net Assets (Liabilities) | $ | 15.2 | $ | (0.6) | $ | 14.6 | ||||||||||||||
| December 31, 2020 | ||||||||||||||||||||
| 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 | $ | 3.4 | $ | (0.2) | $ | 3.2 | ||||||||||||||
| Long-term Risk Management Assets | — | — | — | |||||||||||||||||
| Total Assets | 3.4 | (0.2) | 3.2 | |||||||||||||||||
| Current Risk Management Liabilities | 0.7 | — | 0.7 | |||||||||||||||||
| Long-term Risk Management Liabilities | 1.0 | — | 1.0 | |||||||||||||||||
| Total Liabilities | 1.7 | — | 1.7 | |||||||||||||||||
| Total MTM Derivative Contract Net Assets (Liabilities) | $ | 1.7 | $ | (0.2) | $ | 1.5 | ||||||||||||||
| Three Months Ended June 30, 2021 | ||||||||||||||||||||||||||||||||||||||||||||
| Location of Gain (Loss) | AEP | AEP Texas | APCo | I&M | OPCo | PSO | SWEPCo | |||||||||||||||||||||||||||||||||||||
| (in millions) | ||||||||||||||||||||||||||||||||||||||||||||
| Vertically Integrated Utilities Revenues | $ | 0.1 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||||||||||||||
| Generation & Marketing Revenues | 16.5 | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||
|
Electric Generation, Transmission and Distribution Revenues
|
— | — | 0.1 | — | — | — | — | |||||||||||||||||||||||||||||||||||||
| Purchased Electricity for Resale | 0.6 | — | 0.5 | 0.1 | — | — | — | |||||||||||||||||||||||||||||||||||||
| Other Operation | 0.7 | 0.2 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | |||||||||||||||||||||||||||||||||||||
| Maintenance | 0.8 | 0.3 | 0.1 | — | 0.1 | — | 0.1 | |||||||||||||||||||||||||||||||||||||
| Regulatory Assets (a) | (7.0) | — | — | (5.1) | (1.2) | — | 0.5 | |||||||||||||||||||||||||||||||||||||
| Regulatory Liabilities (a) | 55.1 | 0.2 | 11.3 | 3.4 | 2.2 | 15.0 | 19.6 | |||||||||||||||||||||||||||||||||||||
|
Total Gain (Loss) on Risk Management Contracts
|
$ | 66.8 | $ | 0.7 | $ | 12.1 | $ | (1.5) | $ | 1.2 | $ | 15.1 | $ | 20.3 | ||||||||||||||||||||||||||||||
| Three Months Ended June 30, 2020 | ||||||||||||||||||||||||||||||||||||||||||||
| Location of Gain (Loss) | AEP | AEP Texas | APCo | I&M | OPCo | PSO | SWEPCo | |||||||||||||||||||||||||||||||||||||
| (in millions) | ||||||||||||||||||||||||||||||||||||||||||||
| Vertically Integrated Utilities Revenues | $ | (0.1) | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||||||||||||||
| Generation & Marketing Revenues | 9.9 | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||
|
Electric Generation, Transmission and Distribution Revenues
|
— | — | (0.1) | — | — | — | 0.1 | |||||||||||||||||||||||||||||||||||||
| Purchased Electricity for Resale | 0.8 | — | 0.7 | — | — | — | — | |||||||||||||||||||||||||||||||||||||
| Other Operation | (0.8) | (0.2) | (0.1) | (0.1) | (0.1) | (0.1) | (0.1) | |||||||||||||||||||||||||||||||||||||
| Maintenance | (1.2) | (0.3) | (0.1) | (0.1) | (0.2) | (0.2) | (0.2) | |||||||||||||||||||||||||||||||||||||
| Regulatory Assets (a) | 17.5 | 0.7 | 8.4 | 0.3 | 4.1 | 0.3 | 1.3 | |||||||||||||||||||||||||||||||||||||
| Regulatory Liabilities (a) | 52.7 | — | 19.7 | 3.0 | 3.2 | 12.7 | 9.5 | |||||||||||||||||||||||||||||||||||||
| Total Gain on Risk Management Contracts | $ | 78.8 | $ | 0.2 | $ | 28.5 | $ | 3.1 | $ | 7.0 | $ | 12.7 | $ | 10.6 | ||||||||||||||||||||||||||||||
| Six Months Ended June 30, 2021 | ||||||||||||||||||||||||||||||||||||||||||||
| Location of Gain (Loss) | AEP | AEP Texas | APCo | I&M | OPCo | PSO | SWEPCo | |||||||||||||||||||||||||||||||||||||
| (in millions) | ||||||||||||||||||||||||||||||||||||||||||||
| Vertically Integrated Utilities Revenues | $ | 0.3 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||||||||||||||
| Generation & Marketing Revenues | 16.1 | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||
| Electric Generation, Transmission and Distribution Revenues | — | — | 0.3 | — | — | — | — | |||||||||||||||||||||||||||||||||||||
| Purchased Electricity for Resale | 1.0 | — | 0.9 | 0.1 | — | — | — | |||||||||||||||||||||||||||||||||||||
| Other Operation | 1.0 | 0.3 | 0.1 | 0.1 | 0.2 | 0.1 | 0.1 | |||||||||||||||||||||||||||||||||||||
| Maintenance | 1.3 | 0.4 | 0.2 | 0.1 | 0.2 | 0.1 | 0.2 | |||||||||||||||||||||||||||||||||||||
| Regulatory Assets (a) | (0.6) | — | — | (6.0) | 5.4 | — | 1.3 | |||||||||||||||||||||||||||||||||||||
| Regulatory Liabilities (a) | 77.1 | 0.6 | 14.7 | 0.2 | 5.1 | 26.2 | 25.8 | |||||||||||||||||||||||||||||||||||||
| Total Gain (Loss) on Risk Management Contracts | $ | 96.2 | $ | 1.3 | $ | 16.2 | $ | (5.5) | $ | 10.9 | $ | 26.4 | $ | 27.4 | ||||||||||||||||||||||||||||||
| Six Months Ended June 30, 2020 | ||||||||||||||||||||||||||||||||||||||||||||
| Location of Gain (Loss) | AEP | AEP Texas | APCo | I&M | OPCo | PSO | SWEPCo | |||||||||||||||||||||||||||||||||||||
| (in millions) | ||||||||||||||||||||||||||||||||||||||||||||
| Vertically Integrated Utilities Revenues | $ | 0.3 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||||||||||||||
| Generation & Marketing Revenues | (0.4) | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||
| Electric Generation, Transmission and Distribution Revenues | — | — | 0.1 | 0.1 | — | — | 0.1 | |||||||||||||||||||||||||||||||||||||
| Purchased Electricity for Resale | 0.9 | — | 0.8 | — | — | — | — | |||||||||||||||||||||||||||||||||||||
| Other Operation | (1.0) | (0.3) | (0.1) | (0.1) | (0.2) | (0.1) | (0.1) | |||||||||||||||||||||||||||||||||||||
| Maintenance | (1.4) | (0.4) | (0.2) | (0.1) | (0.2) | (0.2) | (0.2) | |||||||||||||||||||||||||||||||||||||
| Regulatory Assets (a) | (16.4) | (0.5) | (0.5) | (0.4) | (14.3) | (0.2) | (0.7) | |||||||||||||||||||||||||||||||||||||
| Regulatory Liabilities (a) | 63.9 | — | 12.4 | 6.2 | 6.7 | 20.8 | 12.8 | |||||||||||||||||||||||||||||||||||||
| Total Gain (Loss) on Risk Management Contracts | $ | 45.9 | $ | (1.2) | $ | 12.5 | $ | 5.7 | $ | (8.0) | $ | 20.3 | $ | 11.9 | ||||||||||||||||||||||||||||||
| Carrying Amount of the Hedged Liabilities | Cumulative Amount of Fair Value Hedging Adjustment Included in the Carrying Amount of the Hedged Liabilities | |||||||||||||||||||||||||
| June 30, 2021 | December 31, 2020 | June 30, 2021 | December 31, 2020 | |||||||||||||||||||||||
| (in millions) | ||||||||||||||||||||||||||
| Long-term Debt (a) (b) | $ | (967.4) | $ | (995.9) | $ | (24.2) | $ | (51.7) | ||||||||||||||||||
| Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||||||||||
| 2021 | 2020 | 2021 | 2020 | ||||||||||||||||||||
| (in millions) | |||||||||||||||||||||||
| Gain (Loss) on Interest Rate Contracts: | |||||||||||||||||||||||
| Fair Value Hedging Instruments (a) | $ | 9.5 | $ | 0.1 | $ | (23.7) | $ | 42.6 | |||||||||||||||
| Fair Value Portion of Long-term Debt (a) | (9.5) | (0.1) | 23.7 | (42.6) | |||||||||||||||||||
| June 30, 2021 | December 31, 2020 | |||||||||||||||||||||||||
| Commodity | Interest Rate | Commodity | Interest Rate | |||||||||||||||||||||||
| (in millions) | ||||||||||||||||||||||||||
| AOCI Gain (Loss) Net of Tax | $ | 110.3 | $ | (32.2) | $ | (60.6) | $ | (47.5) | ||||||||||||||||||
|
Portion Expected to be Reclassed to Net Income During the Next Twelve Months
|
82.9 | (4.7) | (27.1) | (5.7) | ||||||||||||||||||||||
| June 30, 2021 | December 31, 2020 | |||||||||||||||||||||||||
| Interest Rate | ||||||||||||||||||||||||||
| Expected to be | Expected to be | |||||||||||||||||||||||||
| Reclassified to | Reclassified to | |||||||||||||||||||||||||
| Net Income During | Net Income During | |||||||||||||||||||||||||
| AOCI Gain (Loss) | the Next | AOCI Gain (Loss) | the Next | |||||||||||||||||||||||
| Company | Net of Tax | Twelve Months | Net of Tax | Twelve Months | ||||||||||||||||||||||
| (in millions) | ||||||||||||||||||||||||||
| AEP Texas | $ | (1.8) | $ | (1.1) | $ | (2.3) | $ | (1.1) | ||||||||||||||||||
| APCo | 8.0 | 0.8 | (0.8) | 0.4 | ||||||||||||||||||||||
| I&M | (7.4) | (1.6) | (8.3) | (1.6) | ||||||||||||||||||||||
| PSO | — | — | 0.1 | 0.1 | ||||||||||||||||||||||
| SWEPCo | 0.5 | (0.8) | (0.3) | (1.5) | ||||||||||||||||||||||
| June 30, 2021 | ||||||||||||||||||||
| Liabilities for | Additional | |||||||||||||||||||
| Contracts with Cross | Settlement | |||||||||||||||||||
| Default Provisions | Liability if Cross | |||||||||||||||||||
| Prior to Contractual | Amount of Cash | Default Provision | ||||||||||||||||||
| Company | Netting Arrangements | Collateral Posted | is Triggered | |||||||||||||||||
| (in millions) | ||||||||||||||||||||
| AEP | $ | 118.4 | $ | — | $ | 70.2 | ||||||||||||||
| APCo | 0.6 | — | — | |||||||||||||||||
| I&M | 0.4 | — | — | |||||||||||||||||
| SWEPCo | — | — | — | |||||||||||||||||
| December 31, 2020 | ||||||||||||||||||||
| Liabilities for | Additional | |||||||||||||||||||
| Contracts with Cross | Settlement | |||||||||||||||||||
| Default Provisions | Liability if Cross | |||||||||||||||||||
| Prior to Contractual | Amount of Cash | Default Provision | ||||||||||||||||||
| Company | Netting Arrangements | Collateral Posted | is Triggered | |||||||||||||||||
| (in millions) | ||||||||||||||||||||
| AEP | $ | 188.4 | $ | — | $ | 169.2 | ||||||||||||||
| APCo | 4.3 | — | 3.5 | |||||||||||||||||
| I&M | 0.5 | — | 0.1 | |||||||||||||||||
| SWEPCo | 1.8 | — | 1.8 | |||||||||||||||||
| June 30, 2021 | December 31, 2020 | |||||||||||||||||||||||||
| Company | Book Value | Fair Value | Book Value | Fair Value | ||||||||||||||||||||||
| (in millions) | ||||||||||||||||||||||||||
| AEP (a) | $ | 33,117.8 | $ | 37,826.2 | $ | 31,072.5 | $ | 37,457.0 | ||||||||||||||||||
| AEP Texas | 5,226.0 | 5,809.5 | 4,820.4 | 5,682.6 | ||||||||||||||||||||||
| AEPTCo | 3,949.3 | 4,667.9 | 3,948.5 | 4,984.3 | ||||||||||||||||||||||
| APCo | 4,949.8 | 6,129.7 | 4,834.1 | 6,391.8 | ||||||||||||||||||||||
| I&M | 3,255.0 | 3,850.6 | 3,029.9 | 3,775.3 | ||||||||||||||||||||||
| OPCo | 2,876.8 | 3,419.0 | 2,430.2 | 3,154.9 | ||||||||||||||||||||||
| PSO | 1,623.8 | 1,883.6 | 1,373.8 | 1,732.1 | ||||||||||||||||||||||
| SWEPCo | 3,130.7 | 3,563.5 | 2,636.4 | 3,210.1 | ||||||||||||||||||||||
| June 30, 2021 | ||||||||||||||||||||||||||
| Gross | Gross | |||||||||||||||||||||||||
| Unrealized | Unrealized | Fair | ||||||||||||||||||||||||
| Other Temporary Investments | Cost | Gains | Losses | Value | ||||||||||||||||||||||
| (in millions) | ||||||||||||||||||||||||||
| Restricted Cash and Other Cash Deposits (a) | $ | 80.2 | $ | — | $ | — | $ | 80.2 | ||||||||||||||||||
| Fixed Income Securities – Mutual Funds (b) | 129.0 | 2.1 | — | 131.1 | ||||||||||||||||||||||
| Equity Securities – Mutual Funds | 22.7 | 34.7 | — | 57.4 | ||||||||||||||||||||||
| Total Other Temporary Investments | $ | 231.9 | $ | 36.8 | $ | — | $ | 268.7 | ||||||||||||||||||
| December 31, 2020 | ||||||||||||||||||||||||||
| Gross | Gross | |||||||||||||||||||||||||
| Unrealized | Unrealized | Fair | ||||||||||||||||||||||||
| Other Temporary Investments | Cost | Gains | Losses | Value | ||||||||||||||||||||||
| (in millions) | ||||||||||||||||||||||||||
| Restricted Cash and Other Cash Deposits (a) | $ | 68.3 | $ | — | $ | — | $ | 68.3 | ||||||||||||||||||
| Fixed Income Securities – Mutual Funds (b) | 120.7 | 2.8 | — | 123.5 | ||||||||||||||||||||||
| Equity Securities – Mutual Funds | 25.9 | 28.7 | — | 54.6 | ||||||||||||||||||||||
| Total Other Temporary Investments | $ | 214.9 | $ | 31.5 | $ | — | $ | 246.4 | ||||||||||||||||||
| Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||||||||||
| 2021 | 2020 | 2021 | 2020 | ||||||||||||||||||||
| (in millions) | |||||||||||||||||||||||
| Proceeds from Investment Sales | $ | 3.6 | $ | 7.6 | $ | 9.1 | $ | 30.8 | |||||||||||||||
| Purchases of Investments | 12.4 | 10.3 | 13.1 | 17.0 | |||||||||||||||||||
| Gross Realized Gains on Investment Sales | 1.1 | 0.2 | 1.2 | 2.2 | |||||||||||||||||||
| Gross Realized Losses on Investment Sales | — | 0.1 | — | 0.2 | |||||||||||||||||||
| June 30, 2021 | December 31, 2020 | ||||||||||||||||||||||||||||||||||
| Gross | Other-Than- | Gross | Other-Than- | ||||||||||||||||||||||||||||||||
| Fair | Unrealized | Temporary | Fair | Unrealized | Temporary | ||||||||||||||||||||||||||||||
| Value | Gains | Impairments | Value | Gains | Impairments | ||||||||||||||||||||||||||||||
| (in millions) | |||||||||||||||||||||||||||||||||||
| Cash and Cash Equivalents | $ | 35.6 | $ | — | $ | — | $ | 25.8 | $ | — | $ | — | |||||||||||||||||||||||
| Fixed Income Securities: | |||||||||||||||||||||||||||||||||||
| United States Government | 1,155.8 | 68.9 | (12.5) | 1,025.6 | 98.5 | (7.1) | |||||||||||||||||||||||||||||
| Corporate Debt | 87.3 | 7.1 | (2.6) | 86.3 | 9.6 | (1.7) | |||||||||||||||||||||||||||||
| State and Local Government | 58.9 | 0.2 | (0.6) | 114.3 | 0.9 | (0.4) | |||||||||||||||||||||||||||||
| Subtotal Fixed Income Securities | 1,302.0 | 76.2 | (15.7) | 1,226.2 | 109.0 | (9.2) | |||||||||||||||||||||||||||||
| Equity Securities - Domestic (a) | 2,274.8 | 1,648.2 | — | 2,054.7 | 1,400.8 | — | |||||||||||||||||||||||||||||
|
Spent Nuclear Fuel and Decommissioning Trusts
|
$ | 3,612.4 | $ | 1,724.4 | $ | (15.7) | $ | 3,306.7 | $ | 1,509.8 | $ | (9.2) | |||||||||||||||||||||||
| Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||||||||||||
| 2021 | 2020 | 2021 | 2020 | |||||||||||||||||||||||
| (in millions) | ||||||||||||||||||||||||||
| Proceeds from Investment Sales | $ | 802.7 | $ | 328.1 | $ | 1,122.7 | $ | 940.5 | ||||||||||||||||||
| Purchases of Investments | 812.8 | 345.4 | 1,149.7 | 971.4 | ||||||||||||||||||||||
| Gross Realized Gains on Investment Sales | 83.3 | 11.1 | 88.7 | 22.0 | ||||||||||||||||||||||
| Gross Realized Losses on Investment Sales | 1.3 | 7.7 | 5.5 | 24.7 | ||||||||||||||||||||||
| Fair Value of Fixed | |||||
| Income Securities | |||||
| (in millions) | |||||
| Within 1 year | $ | 331.4 | |||
| After 1 year through 5 years | 415.7 | ||||
| After 5 years through 10 years | 263.0 | ||||
| After 10 years | 291.9 | ||||
| Total | $ | 1,302.0 | |||
| Level 1 | Level 2 | Level 3 | Other | Total | ||||||||||||||||||||||||||||
| Assets: | (in millions) | |||||||||||||||||||||||||||||||
| Other Temporary Investments | ||||||||||||||||||||||||||||||||
| Restricted Cash and Other Cash Deposits (a) | $ | 59.1 | $ | — | $ | — | $ | 21.1 | $ | 80.2 | ||||||||||||||||||||||
| Fixed Income Securities – Mutual Funds | 131.1 | — | — | — | 131.1 | |||||||||||||||||||||||||||
| Equity Securities – Mutual Funds (b) | 57.4 | — | — | — | 57.4 | |||||||||||||||||||||||||||
| Total Other Temporary Investments | 247.6 | — | — | 21.1 | 268.7 | |||||||||||||||||||||||||||
| Risk Management Assets | ||||||||||||||||||||||||||||||||
| Risk Management Commodity Contracts (c) (d) | 4.8 | 478.1 | 224.3 | (400.1) | 307.1 | |||||||||||||||||||||||||||
| Cash Flow Hedges: | ||||||||||||||||||||||||||||||||
| Commodity Hedges (c) | — | 158.7 | 16.9 | (29.9) | 145.7 | |||||||||||||||||||||||||||
| Fair Value Hedges | — | 3.2 | — | — | 3.2 | |||||||||||||||||||||||||||
| Total Risk Management Assets | 4.8 | 640.0 | 241.2 | (430.0) | 456.0 | |||||||||||||||||||||||||||
| Spent Nuclear Fuel and Decommissioning Trusts | ||||||||||||||||||||||||||||||||
| Cash and Cash Equivalents (e) | 28.0 | — | — | 7.6 | 35.6 | |||||||||||||||||||||||||||
| Fixed Income Securities: | ||||||||||||||||||||||||||||||||
| United States Government | — | 1,155.8 | — | — | 1,155.8 | |||||||||||||||||||||||||||
| Corporate Debt | — | 87.3 | — | — | 87.3 | |||||||||||||||||||||||||||
| State and Local Government | — | 58.9 | — | — | 58.9 | |||||||||||||||||||||||||||
| Subtotal Fixed Income Securities | — | 1,302.0 | — | — | 1,302.0 | |||||||||||||||||||||||||||
| Equity Securities – Domestic (b) | 2,274.8 | — | — | — | 2,274.8 | |||||||||||||||||||||||||||
| Total Spent Nuclear Fuel and Decommissioning Trusts | 2,302.8 | 1,302.0 | — | 7.6 | 3,612.4 | |||||||||||||||||||||||||||
| Other Investments (h) | — | 72.5 | — | — | 72.5 | |||||||||||||||||||||||||||
| Total Assets | $ | 2,555.2 | $ | 2,014.5 | $ | 241.2 | $ | (401.3) | $ | 4,409.6 | ||||||||||||||||||||||
| Liabilities: | ||||||||||||||||||||||||||||||||
| Risk Management Liabilities | ||||||||||||||||||||||||||||||||
| Risk Management Commodity Contracts (c) (d) | $ | 2.5 | $ | 395.2 | $ | 139.1 | $ | (307.1) | $ | 229.7 | ||||||||||||||||||||||
| Cash Flow Hedges: | ||||||||||||||||||||||||||||||||
| Commodity Hedges (c) | — | 35.0 | 0.9 | (29.9) | 6.0 | |||||||||||||||||||||||||||
| Fair Value Hedges | — | 28.4 | — | — | 28.4 | |||||||||||||||||||||||||||
| Total Risk Management Liabilities | $ | 2.5 | $ | 458.6 | $ | 140.0 | $ | (337.0) | $ | 264.1 | ||||||||||||||||||||||
| Level 1 | Level 2 | Level 3 | Other | Total | ||||||||||||||||||||||||||||
| Assets: | (in millions) | |||||||||||||||||||||||||||||||
| Other Temporary Investments | ||||||||||||||||||||||||||||||||
| Restricted Cash and Other Cash Deposits (a) | $ | 57.8 | $ | — | $ | — | $ | 10.5 | $ | 68.3 | ||||||||||||||||||||||
| Fixed Income Securities – Mutual Funds | 123.5 | — | — | — | 123.5 | |||||||||||||||||||||||||||
| Equity Securities – Mutual Funds (b) | 54.6 | — | — | — | 54.6 | |||||||||||||||||||||||||||
| Total Other Temporary Investments | 235.9 | — | — | 10.5 | 246.4 | |||||||||||||||||||||||||||
| Risk Management Assets | ||||||||||||||||||||||||||||||||
| Risk Management Commodity Contracts (c) (f) | 0.9 | 258.8 | 252.4 | (190.0) | 322.1 | |||||||||||||||||||||||||||
| Cash Flow Hedges: | ||||||||||||||||||||||||||||||||
| Commodity Hedges (c) | — | 34.4 | 3.9 | (28.5) | 9.8 | |||||||||||||||||||||||||||
| Interest Rate Hedges | — | 2.4 | — | — | 2.4 | |||||||||||||||||||||||||||
| Fair Value Hedges | — | 2.6 | — | — | 2.6 | |||||||||||||||||||||||||||
| Total Risk Management Assets | 0.9 | 298.2 | 256.3 | (218.5) | 336.9 | |||||||||||||||||||||||||||
| Spent Nuclear Fuel and Decommissioning Trusts | ||||||||||||||||||||||||||||||||
| Cash and Cash Equivalents (e) | 16.8 | — | — | 9.0 | 25.8 | |||||||||||||||||||||||||||
| Fixed Income Securities: | ||||||||||||||||||||||||||||||||
| United States Government | — | 1,025.6 | — | — | 1,025.6 | |||||||||||||||||||||||||||
| Corporate Debt | — | 86.3 | — | — | 86.3 | |||||||||||||||||||||||||||
| State and Local Government | — | 114.3 | — | — | 114.3 | |||||||||||||||||||||||||||
| Subtotal Fixed Income Securities | — | 1,226.2 | — | — | 1,226.2 | |||||||||||||||||||||||||||
| Equity Securities – Domestic (b) | 2,054.7 | — | — | — | 2,054.7 | |||||||||||||||||||||||||||
| Total Spent Nuclear Fuel and Decommissioning Trusts | 2,071.5 | 1,226.2 | — | 9.0 | 3,306.7 | |||||||||||||||||||||||||||
| Other Investments (h) | — | — | 31.8 | — | 31.8 | |||||||||||||||||||||||||||
| Total Assets | $ | 2,308.3 | $ | 1,524.4 | $ | 288.1 | $ | (199.0) | $ | 3,921.8 | ||||||||||||||||||||||
| Liabilities: | ||||||||||||||||||||||||||||||||
| Risk Management Liabilities | ||||||||||||||||||||||||||||||||
| Risk Management Commodity Contracts (c) (f) | $ | 0.9 | $ | 244.2 | $ | 167.2 | $ | (193.4) | $ | 218.9 | ||||||||||||||||||||||
| Cash Flow Hedges: | ||||||||||||||||||||||||||||||||
| Commodity Hedges (c) | — | 106.1 | 7.6 | (28.5) | 85.2 | |||||||||||||||||||||||||||
| Interest Rate Hedges | — | 3.4 | — | — | 3.4 | |||||||||||||||||||||||||||
| Fair Value Hedges | — | 4.1 | — | — | 4.1 | |||||||||||||||||||||||||||
| Total Risk Management Liabilities | $ | 0.9 | $ | 357.8 | $ | 174.8 | $ | (221.9) | $ | 311.6 | ||||||||||||||||||||||
| Level 1 | Level 2 | Level 3 | Other | Total | ||||||||||||||||||||||||||||
| Assets: | (in millions) | |||||||||||||||||||||||||||||||
| Restricted Cash for Securitized Funding | $ | 27.9 | $ | — | $ | — | $ | — | $ | 27.9 | ||||||||||||||||||||||
| Risk Management Assets | ||||||||||||||||||||||||||||||||
| Risk Management Commodity Contracts (c) | — | 1.1 | — | (1.1) | — | |||||||||||||||||||||||||||
| Total Assets | $ | 27.9 | $ | 1.1 | $ | — | $ | (1.1) | $ | 27.9 | ||||||||||||||||||||||
| Level 1 | Level 2 | Level 3 | Other | Total | ||||||||||||||||||||||||||||
| Assets: | (in millions) | |||||||||||||||||||||||||||||||
| Restricted Cash for Securitized Funding | $ | 28.7 | $ | — | $ | — | $ | — | $ | 28.7 | ||||||||||||||||||||||
| Risk Management Assets | ||||||||||||||||||||||||||||||||
| Risk Management Commodity Contracts (c) | — | 0.4 | — | (0.4) | — | |||||||||||||||||||||||||||
| Total Assets | $ | 28.7 | $ | 0.4 | $ | — | $ | (0.4) | $ | 28.7 | ||||||||||||||||||||||
| Level 1 | Level 2 | Level 3 | Other | Total | ||||||||||||||||||||||||||||
| Assets: | (in millions) | |||||||||||||||||||||||||||||||
| Restricted Cash for Securitized Funding | $ | 19.1 | $ | — | $ | — | $ | 19.1 | ||||||||||||||||||||||||
| Risk Management Assets | ||||||||||||||||||||||||||||||||
| Risk Management Commodity Contracts (c) (g) | — | 27.0 | 37.3 | (27.2) | 37.1 | |||||||||||||||||||||||||||
| Total Assets | $ | 19.1 | $ | 27.0 | $ | 37.3 | $ | (27.2) | $ | 56.2 | ||||||||||||||||||||||
| Liabilities: | ||||||||||||||||||||||||||||||||
| Risk Management Liabilities | ||||||||||||||||||||||||||||||||
| Risk Management Commodity Contracts (c) (g) | $ | — | $ | 32.5 | $ | 0.7 | $ | (31.8) | $ | 1.4 | ||||||||||||||||||||||
| Level 1 | Level 2 | Level 3 | Other | Total | ||||||||||||||||||||||||||||
| Assets: | (in millions) | |||||||||||||||||||||||||||||||
| Restricted Cash for Securitized Funding | $ | 16.9 | $ | — | $ | — | $ | — | $ | 16.9 | ||||||||||||||||||||||
| Risk Management Assets | ||||||||||||||||||||||||||||||||
| Risk Management Commodity Contracts (c) (g) | — | 19.4 | 19.9 | (19.2) | 20.1 | |||||||||||||||||||||||||||
| Cash Flow Hedges: | ||||||||||||||||||||||||||||||||
| Interest Rate Hedges | — | 2.4 | — | — | 2.4 | |||||||||||||||||||||||||||
| Total Risk Management Assets | — | 21.8 | 19.9 | (19.2) | 22.5 | |||||||||||||||||||||||||||
| Total Assets | $ | 16.9 | $ | 21.8 | $ | 19.9 | $ | (19.2) | $ | 39.4 | ||||||||||||||||||||||
| Liabilities: | ||||||||||||||||||||||||||||||||
| Risk Management Liabilities | ||||||||||||||||||||||||||||||||
| Risk Management Commodity Contracts (c) (g) | $ | — | $ | 19.5 | $ | 0.6 | $ | (18.8) | $ | 1.3 | ||||||||||||||||||||||
| Cash Flow Hedges: | ||||||||||||||||||||||||||||||||
| Interest Rate Hedges | — | 3.4 | — | — | 3.4 | |||||||||||||||||||||||||||
| Total Risk Management Liabilities | $ | — | $ | 22.9 | $ | 0.6 | $ | (18.8) | $ | 4.7 | ||||||||||||||||||||||
| Level 1 | Level 2 | Level 3 | Other | Total | ||||||||||||||||||||||||||||
| Assets: | (in millions) | |||||||||||||||||||||||||||||||
| Risk Management Assets | ||||||||||||||||||||||||||||||||
| Risk Management Commodity Contracts (c) (g) | $ | — | $ | 17.0 | $ | 8.9 | $ | (18.2) | $ | 7.7 | ||||||||||||||||||||||
| Spent Nuclear Fuel and Decommissioning Trusts | ||||||||||||||||||||||||||||||||
| Cash and Cash Equivalents (e) | 28.0 | — | — | 7.6 | 35.6 | |||||||||||||||||||||||||||
| Fixed Income Securities: | ||||||||||||||||||||||||||||||||
| United States Government | — | 1,155.8 | — | — | 1,155.8 | |||||||||||||||||||||||||||
| Corporate Debt | — | 87.3 | — | — | 87.3 | |||||||||||||||||||||||||||
| State and Local Government | — | 58.9 | — | — | 58.9 | |||||||||||||||||||||||||||
| Subtotal Fixed Income Securities | — | 1,302.0 | — | — | 1,302.0 | |||||||||||||||||||||||||||
| Equity Securities - Domestic (b) | 2,274.8 | — | — | — | 2,274.8 | |||||||||||||||||||||||||||
| Total Spent Nuclear Fuel and Decommissioning Trusts | 2,302.8 | 1,302.0 | — | 7.6 | 3,612.4 | |||||||||||||||||||||||||||
| Total Assets | $ | 2,302.8 | $ | 1,319.0 | $ | 8.9 | $ | (10.6) | $ | 3,620.1 | ||||||||||||||||||||||
| Liabilities: | ||||||||||||||||||||||||||||||||
| Risk Management Liabilities | ||||||||||||||||||||||||||||||||
| Risk Management Commodity Contracts (c) (g) | $ | — | $ | 21.9 | $ | 1.6 | $ | (22.4) | $ | 1.1 | ||||||||||||||||||||||
| Level 1 | Level 2 | Level 3 | Other | Total | ||||||||||||||||||||||||||||
| Assets: | (in millions) | |||||||||||||||||||||||||||||||
| Risk Management Assets | ||||||||||||||||||||||||||||||||
| Risk Management Commodity Contracts (c) (g) | $ | — | $ | 15.1 | $ | 2.5 | $ | (13.9) | $ | 3.7 | ||||||||||||||||||||||
| Spent Nuclear Fuel and Decommissioning Trusts | ||||||||||||||||||||||||||||||||
| Cash and Cash Equivalents (e) | 16.8 | — | — | 9.0 | 25.8 | |||||||||||||||||||||||||||
| Fixed Income Securities: | ||||||||||||||||||||||||||||||||
| United States Government | — | 1,025.6 | — | — | 1,025.6 | |||||||||||||||||||||||||||
| Corporate Debt | — | 86.3 | — | — | 86.3 | |||||||||||||||||||||||||||
| State and Local Government | — | 114.3 | — | — | 114.3 | |||||||||||||||||||||||||||
| Subtotal Fixed Income Securities | — | 1,226.2 | — | — | 1,226.2 | |||||||||||||||||||||||||||
| Equity Securities - Domestic (b) | 2,054.7 | — | — | — | 2,054.7 | |||||||||||||||||||||||||||
| Total Spent Nuclear Fuel and Decommissioning Trusts | 2,071.5 | 1,226.2 | — | 9.0 | 3,306.7 | |||||||||||||||||||||||||||
| Total Assets | $ | 2,071.5 | $ | 1,241.3 | $ | 2.5 | $ | (4.9) | $ | 3,310.4 | ||||||||||||||||||||||
| Liabilities: | ||||||||||||||||||||||||||||||||
| Risk Management Liabilities | ||||||||||||||||||||||||||||||||
| Risk Management Commodity Contracts (c) (g) | $ | — | $ | 12.0 | $ | 0.4 | $ | (12.2) | $ | 0.2 | ||||||||||||||||||||||
| Level 1 | Level 2 | Level 3 | Other | Total | ||||||||||||||||||||||||||||
| Assets: | (in millions) | |||||||||||||||||||||||||||||||
| Risk Management Assets | ||||||||||||||||||||||||||||||||
| Risk Management Commodity Contracts (c) (g) | $ | — | $ | 0.7 | $ | — | $ | (0.7) | $ | — | ||||||||||||||||||||||
| Liabilities: | ||||||||||||||||||||||||||||||||
| Risk Management Liabilities | ||||||||||||||||||||||||||||||||
| Risk Management Commodity Contracts (c) (g) | $ | — | $ | — | $ | 105.4 | $ | 0.1 | $ | 105.5 | ||||||||||||||||||||||
| Level 1 | Level 2 | Level 3 | Other | Total | ||||||||||||||||||||||||||||
| Assets: | (in millions) | |||||||||||||||||||||||||||||||
| Risk Management Assets | ||||||||||||||||||||||||||||||||
| Risk Management Commodity Contracts (c) (g) | $ | — | $ | 0.3 | $ | — | $ | (0.3) | $ | — | ||||||||||||||||||||||
| Liabilities: | ||||||||||||||||||||||||||||||||
| Risk Management Liabilities | ||||||||||||||||||||||||||||||||
| Risk Management Commodity Contracts (c) (g) | $ | — | $ | — | $ | 110.3 | $ | — | $ | 110.3 | ||||||||||||||||||||||
| Level 1 | Level 2 | Level 3 | Other | Total | ||||||||||||||||||||||||||||
| Assets: | (in millions) | |||||||||||||||||||||||||||||||
| Risk Management Assets | ||||||||||||||||||||||||||||||||
| Risk Management Commodity Contracts (c) (g) | $ | — | $ | 0.4 | $ | 23.1 | $ | (0.5) | $ | 23.0 | ||||||||||||||||||||||
| Liabilities: | ||||||||||||||||||||||||||||||||
| Risk Management Liabilities | ||||||||||||||||||||||||||||||||
| Risk Management Commodity Contracts (c) (g) | $ | — | $ | — | $ | 0.2 | $ | (0.1) | $ | 0.1 | ||||||||||||||||||||||
| Level 1 | Level 2 | Level 3 | Other | Total | ||||||||||||||||||||||||||||
| Assets: | (in millions) | |||||||||||||||||||||||||||||||
| Risk Management Assets | ||||||||||||||||||||||||||||||||
| Risk Management Commodity Contracts (c) (g) | $ | — | $ | 0.2 | $ | 10.3 | $ | (0.2) | $ | 10.3 | ||||||||||||||||||||||
| Level 1 | Level 2 | Level 3 | Other | Total | ||||||||||||||||||||||||||||
| Assets: | (in millions) | |||||||||||||||||||||||||||||||
| Risk Management Assets | ||||||||||||||||||||||||||||||||
| Risk Management Commodity Contracts (c) (g) | $ | — | $ | 0.6 | $ | 15.0 | $ | (1.0) | $ | 14.6 | ||||||||||||||||||||||
| Liabilities: | ||||||||||||||||||||||||||||||||
| Risk Management Liabilities | ||||||||||||||||||||||||||||||||
| Risk Management Commodity Contracts (c) (g) | $ | — | $ | — | $ | 0.4 | $ | (0.4) | $ | — | ||||||||||||||||||||||
| Level 1 | Level 2 | Level 3 | Other | Total | ||||||||||||||||||||||||||||
| Assets: | (in millions) | |||||||||||||||||||||||||||||||
| Risk Management Assets | ||||||||||||||||||||||||||||||||
| Risk Management Commodity Contracts (c) (g) | $ | — | $ | 0.1 | $ | 3.3 | $ | (0.2) | $ | 3.2 | ||||||||||||||||||||||
| Liabilities: | ||||||||||||||||||||||||||||||||
| Risk Management Liabilities | ||||||||||||||||||||||||||||||||
| Risk Management Commodity Contracts (c) (g) | $ | — | $ | — | $ | 1.7 | $ | — | $ | 1.7 | ||||||||||||||||||||||
| Three Months Ended June 30, 2021 | AEP | APCo | I&M | OPCo | PSO | SWEPCo | ||||||||||||||||||||||||||||||||
| (in millions) | ||||||||||||||||||||||||||||||||||||||
| Balance as of March 31, 2021 | $ | 41.8 | $ | 6.6 | $ | 0.7 | $ | (104.0) | $ | 5.5 | $ | 0.5 | ||||||||||||||||||||||||||
|
Realized Gain (Loss) Included in Net Income (or Changes in Net Assets) (a) (b)
|
18.6 | 6.2 | 0.4 | 1.7 | 4.8 | 3.1 | ||||||||||||||||||||||||||||||||
|
Unrealized Gain (Loss) Included in Net Income (or Changes in Net Assets) Relating to Assets Still Held at the Reporting Date (a)
|
(10.6) | — | — | — | — | — | ||||||||||||||||||||||||||||||||
|
Realized and Unrealized Gains (Losses) Included in Other Comprehensive Income (c)
|
15.4 | — | — | — | — | — | ||||||||||||||||||||||||||||||||
| Settlements | (34.5) | (13.0) | (1.2) | 0.6 | (10.3) | (4.5) | ||||||||||||||||||||||||||||||||
| Transfers into Level 3 (d) (e) | (0.8) | — | — | — | — | — | ||||||||||||||||||||||||||||||||
| Transfers out of Level 3 (e) | (19.1) | — | — | — | — | — | ||||||||||||||||||||||||||||||||
|
Changes in Fair Value Allocated to Regulated Jurisdictions (f)
|
90.4 | 36.8 | 7.4 | (3.7) | 22.9 | 15.5 | ||||||||||||||||||||||||||||||||
| Balance as of June 30, 2021 | $ | 101.2 | $ | 36.6 | $ | 7.3 | $ | (105.4) | $ | 22.9 | $ | 14.6 | ||||||||||||||||||||||||||
| Three Months Ended June 30, 2020 | AEP | APCo | I&M | OPCo | PSO | SWEPCo | ||||||||||||||||||||||||||||||||
| (in millions) | ||||||||||||||||||||||||||||||||||||||
| Balance as of March 31, 2020 | $ | 42.5 | $ | 6.6 | $ | 2.1 | $ | (120.9) | $ | 6.3 | $ | (2.5) | ||||||||||||||||||||||||||
|
Realized Gain (Loss) Included in Net Income (or Changes in Net Assets) (a) (b)
|
39.1 | 23.5 | 2.8 | — | 3.9 | 0.8 | ||||||||||||||||||||||||||||||||
|
Unrealized Gain (Loss) Included in Net Income (or Changes in Net Assets) Relating to Assets Still Held at the Reporting Date (a)
|
(17.2) | — | — | — | — | — | ||||||||||||||||||||||||||||||||
|
Realized and Unrealized Gains (Losses) Included in Other Comprehensive Income (c)
|
22.0 | — | — | — | — | — | ||||||||||||||||||||||||||||||||
| Settlements | (54.7) | (28.9) | (4.1) | 2.6 | (10.2) | (2.4) | ||||||||||||||||||||||||||||||||
| Transfers out of Level 3 (e) | (0.2) | — | — | — | — | — | ||||||||||||||||||||||||||||||||
|
Changes in Fair Value Allocated to Regulated Jurisdictions (f)
|
80.1 | 35.3 | 3.7 | 0.9 | 23.8 | 7.4 | ||||||||||||||||||||||||||||||||
| Balance as of June 30, 2020 | $ | 111.6 | $ | 36.5 | $ | 4.5 | $ | (117.4) | $ | 23.8 | $ | 3.3 | ||||||||||||||||||||||||||
| Six Months Ended June 30, 2021 | AEP | APCo | I&M | OPCo | PSO | SWEPCo | ||||||||||||||||||||||||||||||||
| (in millions) | ||||||||||||||||||||||||||||||||||||||
| Balance as of December 31, 2020 | $ | 113.3 | $ | 19.3 | $ | 2.1 | $ | (110.3) | $ | 10.3 | $ | 1.6 | ||||||||||||||||||||||||||
|
Realized Gain (Loss) Included in Net Income (or Changes in Net Assets) (a) (b)
|
78.3 | 38.9 | 0.4 | 0.1 | 16.1 | 9.5 | ||||||||||||||||||||||||||||||||
|
Unrealized Gain (Loss) Included in Net Income (or Changes in Net Assets) Relating to Assets Still Held at the Reporting Date (a)
|
(66.8) | — | — | — | — | — | ||||||||||||||||||||||||||||||||
|
Realized and Unrealized Gains (Losses) Included in Other Comprehensive Income (c)
|
18.5 | — | — | — | — | — | ||||||||||||||||||||||||||||||||
| Settlements | (110.6) | (58.4) | (2.6) | 4.9 | (26.4) | (12.0) | ||||||||||||||||||||||||||||||||
| Transfers into Level 3 (d) (e) | (0.2) | — | — | — | — | — | ||||||||||||||||||||||||||||||||
| Transfers out of Level 3 (e) | (25.6) | — | — | — | — | — | ||||||||||||||||||||||||||||||||
|
Changes in Fair Value Allocated to Regulated Jurisdictions (f)
|
94.3 | 36.8 | 7.4 | (0.1) | 22.9 | 15.5 | ||||||||||||||||||||||||||||||||
| Balance as of June 30, 2021 | $ | 101.2 | $ | 36.6 | $ | 7.3 | $ | (105.4) | $ | 22.9 | $ | 14.6 | ||||||||||||||||||||||||||
| Six Months Ended June 30, 2020 | AEP | APCo | I&M | OPCo | PSO | SWEPCo | ||||||||||||||||||||||||||||||||
| (in millions) | ||||||||||||||||||||||||||||||||||||||
| Balance as of December 31, 2019 | $ | 109.9 | $ | 37.7 | $ | 5.8 | $ | (103.6) | $ | 15.8 | $ | 1.4 | ||||||||||||||||||||||||||
|
Realized Gain (Loss) Included in Net Income (or Changes in Net Assets) (a) (b)
|
38.2 | 12.9 | 2.3 | (0.9) | 11.9 | 2.8 | ||||||||||||||||||||||||||||||||
|
Unrealized Gain (Loss) Included in Net Income (or Changes in Net Assets) Relating to Assets Still Held at the Reporting Date (a)
|
(6.4) | — | — | — | — | — | ||||||||||||||||||||||||||||||||
|
Realized and Unrealized Gains (Losses) Included in Other Comprehensive Income (c)
|
18.3 | — | — | — | — | — | ||||||||||||||||||||||||||||||||
| Settlements | (113.7) | (50.8) | (8.1) | 5.1 | (27.6) | (7.6) | ||||||||||||||||||||||||||||||||
| Transfers into Level 3 (d) (e) | (0.6) | — | — | — | — | — | ||||||||||||||||||||||||||||||||
| Transfers out of Level 3 (e) | 4.3 | 0.7 | 0.4 | — | — | — | ||||||||||||||||||||||||||||||||
|
Changes in Fair Value Allocated to Regulated Jurisdictions (f)
|
61.6 | 36.0 | 4.1 | (18.0) | 23.7 | 6.7 | ||||||||||||||||||||||||||||||||
| Balance as of June 30, 2020 | $ | 111.6 | $ | 36.5 | $ | 4.5 | $ | (117.4) | $ | 23.8 | $ | 3.3 | ||||||||||||||||||||||||||
| Significant | Input/Range | ||||||||||||||||||||||||||||||||||||||||
| Fair Value | Valuation | Unobservable | Weighted | ||||||||||||||||||||||||||||||||||||||
| Assets | Liabilities | Technique | Input | Low | High | Average | |||||||||||||||||||||||||||||||||||
| (in millions) | |||||||||||||||||||||||||||||||||||||||||
|
Energy Contracts
|
$ | 141.7 | $ | 134.8 | Discounted Cash Flow | Forward Market Price (a) (c) | $ | 0.05 | $ | 96.20 | $ | 31.99 | |||||||||||||||||||||||||||||
|
Natural Gas Contracts
|
3.1 | — | Discounted Cash Flow | Forward Market Price (b) (c) | 2.28 | 3.82 | 3.14 | ||||||||||||||||||||||||||||||||||
| FTRs | 96.4 | 5.2 | Discounted Cash Flow | Forward Market Price (a) (c) | (18.06) | 12.15 | 0.22 | ||||||||||||||||||||||||||||||||||
| Total | $ | 241.2 | $ | 140.0 | |||||||||||||||||||||||||||||||||||||
| Significant | Input/Range | ||||||||||||||||||||||||||||||||||||||||
| Fair Value | Valuation | Unobservable | Weighted | ||||||||||||||||||||||||||||||||||||||
| Assets | Liabilities | Technique | Input | Low | High | Average | |||||||||||||||||||||||||||||||||||
| (in millions) | |||||||||||||||||||||||||||||||||||||||||
| Energy Contracts | $ | 213.5 | $ | 169.7 | Discounted Cash Flow | Forward Market Price (a) (c) | $ | 5.33 | $ | 100.47 | $ | 32.73 | |||||||||||||||||||||||||||||
| Natural Gas Contracts | — | 1.7 | Discounted Cash Flow | Forward Market Price (b) (c) | 2.18 | 2.77 | 2.40 | ||||||||||||||||||||||||||||||||||
| FTRs | 42.8 | 3.4 | Discounted Cash Flow | Forward Market Price (a) (c) | (15.08) | 9.66 | 0.19 | ||||||||||||||||||||||||||||||||||
| Other Investments | 31.8 | — | Black-Scholes Model | Liquidity Adjustment (d) | 10 | % | 20 | % | 15 | % | |||||||||||||||||||||||||||||||
| Total | $ | 288.1 | $ | 174.8 | |||||||||||||||||||||||||||||||||||||
| Significant | Input/Range | ||||||||||||||||||||||||||||||||||||||||
| Fair Value | Valuation | Unobservable | Weighted | ||||||||||||||||||||||||||||||||||||||
| Assets | Liabilities | Technique | Input (a) | Low | High | Average (c) | |||||||||||||||||||||||||||||||||||
| (in millions) | |||||||||||||||||||||||||||||||||||||||||
| Energy Contracts | $ | 0.3 | $ | 0.7 | Discounted Cash Flow | Forward Market Price | $ | 16.26 | $ | 55.49 | $ | 32.70 | |||||||||||||||||||||||||||||
| FTRs | 37.0 | — |
Discounted Cash Flow
|
Forward Market Price
|
(0.22) | 9.04 | 1.05 | ||||||||||||||||||||||||||||||||||
| Total | $ | 37.3 | $ | 0.7 | |||||||||||||||||||||||||||||||||||||
| Significant | Input/Range | ||||||||||||||||||||||||||||||||||||||||
| Fair Value | Valuation | Unobservable | Weighted | ||||||||||||||||||||||||||||||||||||||
| Assets | Liabilities | Technique | Input (a) | Low | High | Average (c) | |||||||||||||||||||||||||||||||||||
| (in millions) | |||||||||||||||||||||||||||||||||||||||||
| Energy Contracts | $ | 1.0 | $ | 0.6 | Discounted Cash Flow | Forward Market Price | $ | 10.84 | $ | 41.09 | $ | 25.08 | |||||||||||||||||||||||||||||
| FTRs | 18.9 | — |
Discounted Cash Flow
|
Forward Market Price
|
0.04 | 5.61 | 1.13 | ||||||||||||||||||||||||||||||||||
| Total | $ | 19.9 | $ | 0.6 | |||||||||||||||||||||||||||||||||||||
| Significant | Input/Range | ||||||||||||||||||||||||||||||||||||||||
| Fair Value | Valuation | Unobservable | Weighted | ||||||||||||||||||||||||||||||||||||||
| Assets | Liabilities | Technique | Input (a) | Low | High | Average (c) | |||||||||||||||||||||||||||||||||||
| (in millions) | |||||||||||||||||||||||||||||||||||||||||
| Energy Contracts | $ | 0.1 | $ | 0.4 | Discounted Cash Flow | Forward Market Price | $ | 16.26 | $ | 55.49 | $ | 32.70 | |||||||||||||||||||||||||||||
| FTRs | 8.8 | 1.2 |
Discounted Cash Flow
|
Forward Market Price
|
(1.03) | 5.56 | 0.55 | ||||||||||||||||||||||||||||||||||
| Total | $ | 8.9 | $ | 1.6 | |||||||||||||||||||||||||||||||||||||
| Significant | Input/Range | ||||||||||||||||||||||||||||||||||||||||
| Fair Value | Valuation | Unobservable | Weighted | ||||||||||||||||||||||||||||||||||||||
| Assets | Liabilities | Technique | Input (a) | Low | High | Average (c) | |||||||||||||||||||||||||||||||||||
| (in millions) | |||||||||||||||||||||||||||||||||||||||||
| Energy Contracts | $ | 0.6 | $ | 0.3 | Discounted Cash Flow | Forward Market Price | $ | 10.84 | $ | 41.09 | $ | 25.08 | |||||||||||||||||||||||||||||
| FTRs | 1.9 | 0.1 |
Discounted Cash Flow
|
Forward Market Price
|
(1.96) | 3.69 | 0.33 | ||||||||||||||||||||||||||||||||||
| Total | $ | 2.5 | $ | 0.4 | |||||||||||||||||||||||||||||||||||||
| Significant | Input/Range | ||||||||||||||||||||||||||||||||||||||||
| Fair Value | Valuation | Unobservable | Weighted | ||||||||||||||||||||||||||||||||||||||
| Assets | Liabilities | Technique | Input (a) | Low | High | Average (c) | |||||||||||||||||||||||||||||||||||
| (in millions) | |||||||||||||||||||||||||||||||||||||||||
| Energy Contracts | $ | — | $ | 105.4 |
Discounted Cash Flow
|
Forward Market Price
|
$ | 10.58 | $ | 49.85 | $ | 27.10 | |||||||||||||||||||||||||||||
| Significant | Input/Range | ||||||||||||||||||||||||||||||||||||||||
| Fair Value | Valuation | Unobservable | Weighted | ||||||||||||||||||||||||||||||||||||||
| Assets | Liabilities | Technique | Input (a) | Low | High | Average (c) | |||||||||||||||||||||||||||||||||||
| (in millions) | |||||||||||||||||||||||||||||||||||||||||
| Energy Contracts | $ | — | $ | 110.3 |
Discounted Cash Flow
|
Forward Market Price
|
$ | 16.19 | $ | 46.98 | $ | 28.30 | |||||||||||||||||||||||||||||
| Significant | Input/Range | ||||||||||||||||||||||||||||||||||||||||
| Fair Value | Valuation | Unobservable | Weighted | ||||||||||||||||||||||||||||||||||||||
| Assets | Liabilities | Technique | Input (a) | Low | High | Average (c) | |||||||||||||||||||||||||||||||||||
| (in millions) | |||||||||||||||||||||||||||||||||||||||||
| FTRs | $ | 23.1 | $ | 0.2 |
Discounted Cash Flow
|
Forward Market Price
|
$ | (10.36) | $ | 0.62 | $ | (2.03) | |||||||||||||||||||||||||||||
| Significant | Input/Range | ||||||||||||||||||||||||||||||||||||||||
| Fair Value | Valuation | Unobservable | Weighted | ||||||||||||||||||||||||||||||||||||||
| Assets | Liabilities | Technique | Input (a) | Low | High | Average (c) | |||||||||||||||||||||||||||||||||||
| (in millions) | |||||||||||||||||||||||||||||||||||||||||
| FTRs | $ | 10.3 | $ | — |
Discounted Cash Flow
|
Forward Market Price
|
$ | (6.93) | $ | 0.48 | $ | (1.93) | |||||||||||||||||||||||||||||
| Significant | Input/Range | ||||||||||||||||||||||||||||||||||||||||
| Fair Value | Valuation | Unobservable | Weighted | ||||||||||||||||||||||||||||||||||||||
| Assets | Liabilities | Technique | Input | Low | High | Average (c) | |||||||||||||||||||||||||||||||||||
| (in millions) | |||||||||||||||||||||||||||||||||||||||||
|
Natural Gas Contracts
|
$ | 3.1 | $ | — | Discounted Cash Flow | Forward Market Price (b) | $ | 2.70 | $ | 3.82 | $ | 3.15 | |||||||||||||||||||||||||||||
| FTRs | 11.9 | 0.4 |
Discounted Cash Flow
|
Forward Market Price (a)
|
(10.36) | 0.62 | (2.03) | ||||||||||||||||||||||||||||||||||
| Total | $ | 15.0 | $ | 0.4 | |||||||||||||||||||||||||||||||||||||
| Significant | Input/Range | ||||||||||||||||||||||||||||||||||||||||
| Fair Value | Valuation | Unobservable | Weighted | ||||||||||||||||||||||||||||||||||||||
| Assets | Liabilities | Technique | Input | Low | High | Average (c) | |||||||||||||||||||||||||||||||||||
| (in millions) | |||||||||||||||||||||||||||||||||||||||||
| Natural Gas Contracts | $ | — | $ | 1.7 | Discounted Cash Flow | Forward Market Price (b) | $ | 2.18 | $ | 2.77 | $ | 2.41 | |||||||||||||||||||||||||||||
| FTRs | 3.3 | — |
Discounted Cash Flow
|
Forward Market Price (a)
|
(6.93) | 0.48 | (1.93) | ||||||||||||||||||||||||||||||||||
| Total | $ | 3.3 | $ | 1.7 | |||||||||||||||||||||||||||||||||||||
| Significant Unobservable Input | Position | Change in Input |
Impact on Fair Value
Measurement |
|||||||||||||||||
| Forward Market Price |
Buy
|
Increase (Decrease) | Higher (Lower) | |||||||||||||||||
| Forward Market Price | Sell | Increase (Decrease) | Lower (Higher) | |||||||||||||||||
| Liquidity Adjustment | Buy | Increase (Decrease) | Lower (Higher) | |||||||||||||||||
| Three Months Ended June 30, 2021 | ||||||||||||||||||||||||||||||||||||||||||||||||||
| AEP | AEP Texas | AEPTCo | APCo | I&M | OPCo | PSO | SWEPCo | |||||||||||||||||||||||||||||||||||||||||||
| U.S. Federal Statutory Rate | 21.0 | % | 21.0 | % | 21.0 | % | 21.0 | % | 21.0 | % | 21.0 | % | 21.0 | % | 21.0 | % | ||||||||||||||||||||||||||||||||||
| Increase (decrease) due to: | ||||||||||||||||||||||||||||||||||||||||||||||||||
|
State Income Tax, net of Federal Benefit
|
0.8 | % | (0.4) | % | 2.6 | % | 0.9 | % | 1.6 | % | 0.7 | % | 4.4 | % | 1.9 | % | ||||||||||||||||||||||||||||||||||
|
Tax Reform Excess ADIT Reversal
|
(9.1) | % | (7.9) | % | 0.3 | % | (11.8) | % | (20.4) | % | (8.6) | % | (20.1) | % | (1.9) | % | ||||||||||||||||||||||||||||||||||
|
Production and Investment Tax Credits
|
(4.7) | % | (0.3) | % | — | % | — | % | (3.3) | % | — | % | (6.8) | % | (1.4) | % | ||||||||||||||||||||||||||||||||||
|
Flow Through
|
0.4 | % | 0.4 | % | 0.4 | % | 3.3 | % | (5.8) | % | 1.0 | % | 0.8 | % | 0.5 | % | ||||||||||||||||||||||||||||||||||
|
AFUDC Equity
|
(1.2) | % | (0.9) | % | (1.7) | % | (0.5) | % | (2.2) | % | (0.9) | % | (0.7) | % | (0.8) | % | ||||||||||||||||||||||||||||||||||
|
Parent Company Loss Benefit
|
— | % | (0.7) | % | (1.7) | % | 1.0 | % | (1.7) | % | — | % | — | % | (1.9) | % | ||||||||||||||||||||||||||||||||||
|
Discrete Tax Adjustments
|
2.9 | % | — | % | — | % | — | % | — | % | — | % | (2.6) | % | — | % | ||||||||||||||||||||||||||||||||||
|
Other
|
(0.5) | % | (0.2) | % | (0.1) | % | — | % | (0.5) | % | (0.1) | % | (0.1) | % | (1.2) | % | ||||||||||||||||||||||||||||||||||
| Effective Income Tax Rate | 9.6 | % | 11.0 | % | 20.8 | % | 13.9 | % | (11.3) | % | 13.1 | % | (4.1) | % | 16.2 | % | ||||||||||||||||||||||||||||||||||
| Three Months Ended June 30, 2020 | ||||||||||||||||||||||||||||||||||||||||||||||||||
| AEP | AEP Texas | AEPTCo | APCo | I&M | OPCo | PSO | SWEPCo | |||||||||||||||||||||||||||||||||||||||||||
| U.S. Federal Statutory Rate | 21.0 | % | 21.0 | % | 21.0 | % | 21.0 | % | 21.0 | % | 21.0 | % | 21.0 | % | 21.0 | % | ||||||||||||||||||||||||||||||||||
| Increase (decrease) due to: | ||||||||||||||||||||||||||||||||||||||||||||||||||
|
State Income Tax, net of Federal Benefit
|
2.7 | % | 1.8 | % | 2.9 | % | 3.2 | % | 3.6 | % | 0.7 | % | 4.6 | % | 2.1 | % | ||||||||||||||||||||||||||||||||||
|
Tax Reform Excess ADIT Reversal
|
(16.4) | % | (57.9) | % | 0.4 | % | (32.5) | % | (12.6) | % | (9.3) | % | (20.9) | % | (6.3) | % | ||||||||||||||||||||||||||||||||||
|
Production and Investment Tax Credits
|
(4.6) | % | (0.5) | % | — | % | — | % | (1.2) | % | — | % | (1.2) | % | (0.4) | % | ||||||||||||||||||||||||||||||||||
|
Flow Through
|
0.5 | % | 0.2 | % | 0.5 | % | 1.9 | % | 0.1 | % | 0.9 | % | 0.3 | % | (1.2) | % | ||||||||||||||||||||||||||||||||||
|
AFUDC Equity
|
(1.5) | % | (3.3) | % | (2.6) | % | (1.3) | % | (0.7) | % | (0.8) | % | (0.6) | % | (0.3) | % | ||||||||||||||||||||||||||||||||||
|
Parent Company Loss Benefit
|
— | % | 0.2 | % | (0.8) | % | (2.9) | % | (3.3) | % | (0.4) | % | (1.8) | % | (1.7) | % | ||||||||||||||||||||||||||||||||||
|
Other
|
0.7 | % | — | % | (0.6) | % | (0.2) | % | — | % | 0.1 | % | 0.1 | % | (1.3) | % | ||||||||||||||||||||||||||||||||||
| Effective Income Tax Rate | 2.4 | % | (38.5) | % | 20.8 | % | (10.8) | % | 6.9 | % | 12.2 | % | 1.5 | % | 11.9 | % | ||||||||||||||||||||||||||||||||||
| Six Months Ended June 30, 2021 | ||||||||||||||||||||||||||||||||||||||||||||||||||
| AEP | AEP Texas | AEPTCo | APCo | I&M | OPCo | PSO | SWEPCo | |||||||||||||||||||||||||||||||||||||||||||
| U.S. Federal Statutory Rate | 21.0 | % | 21.0 | % | 21.0 | % | 21.0 | % | 21.0 | % | 21.0 | % | 21.0 | % | 21.0 | % | ||||||||||||||||||||||||||||||||||
| Increase (decrease) due to: | ||||||||||||||||||||||||||||||||||||||||||||||||||
|
State Income Tax, net of Federal Benefit
|
1.6 | % | 0.3 | % | 2.7 | % | 2.4 | % | 1.4 | % | 0.7 | % | 4.4 | % | 0.3 | % | ||||||||||||||||||||||||||||||||||
|
Tax Reform Excess ADIT Reversal
|
(9.1) | % | (7.9) | % | 0.3 | % | (15.7) | % | (19.0) | % | (9.1) | % | (19.9) | % | (4.3) | % | ||||||||||||||||||||||||||||||||||
|
Production and Investment Tax Credits
|
(5.1) | % | (0.3) | % | — | % | — | % | (2.3) | % | — | % | (6.6) | % | (3.7) | % | ||||||||||||||||||||||||||||||||||
|
Flow Through
|
0.3 | % | 0.3 | % | 0.3 | % | 2.2 | % | (3.0) | % | 1.1 | % | 0.8 | % | (0.2) | % | ||||||||||||||||||||||||||||||||||
|
AFUDC Equity
|
(1.1) | % | (1.1) | % | (1.7) | % | (0.9) | % | (1.0) | % | (1.0) | % | (0.7) | % | (0.6) | % | ||||||||||||||||||||||||||||||||||
|
Parent Company Loss Benefit
|
— | % | (0.4) | % | (1.8) | % | (1.4) | % | (2.1) | % | — | % | — | % | (0.8) | % | ||||||||||||||||||||||||||||||||||
|
Discrete Tax Adjustments
|
1.7 | % | — | % | — | % | — | % | — | % | (1.8) | % | (2.8) | % | — | % | ||||||||||||||||||||||||||||||||||
|
Other
|
(0.2) | % | — | % | — | % | 0.1 | % | (0.3) | % | (0.1) | % | — | % | (0.4) | % | ||||||||||||||||||||||||||||||||||
| Effective Income Tax Rate | 9.1 | % | 11.9 | % | 20.8 | % | 7.7 | % | (5.3) | % | 10.8 | % | (3.8) | % | 11.3 | % | ||||||||||||||||||||||||||||||||||
| Six Months Ended June 30, 2020 | ||||||||||||||||||||||||||||||||||||||||||||||||||
| AEP | AEP Texas | AEPTCo | APCo | I&M | OPCo | PSO | SWEPCo | |||||||||||||||||||||||||||||||||||||||||||
| U.S. Federal Statutory Rate | 21.0 | % | 21.0 | % | 21.0 | % | 21.0 | % | 21.0 | % | 21.0 | % | 21.0 | % | 21.0 | % | ||||||||||||||||||||||||||||||||||
| Increase (decrease) due to: | ||||||||||||||||||||||||||||||||||||||||||||||||||
|
State Income Tax, net of Federal Benefit
|
2.6 | % | 1.7 | % | 2.9 | % | 3.1 | % | 3.4 | % | 0.7 | % | 4.6 | % | 2.2 | % | ||||||||||||||||||||||||||||||||||
|
Tax Reform Excess ADIT Reversal
|
(12.8) | % | (30.4) | % | 0.4 | % | (20.2) | % | (16.7) | % | (9.7) | % | (20.3) | % | (17.0) | % | ||||||||||||||||||||||||||||||||||
|
Production and Investment Tax Credits
|
(4.4) | % | (0.4) | % | — | % | — | % | (1.6) | % | — | % | (1.1) | % | (0.4) | % | ||||||||||||||||||||||||||||||||||
|
Flow Through
|
0.5 | % | 0.1 | % | 0.5 | % | 1.6 | % | 0.2 | % | 0.9 | % | 0.2 | % | (1.1) | % | ||||||||||||||||||||||||||||||||||
|
AFUDC Equity
|
(1.5) | % | (2.9) | % | (2.6) | % | (1.1) | % | (0.9) | % | (0.9) | % | (0.6) | % | (0.3) | % | ||||||||||||||||||||||||||||||||||
|
Parent Company Loss Benefit
|
— | % | — | % | (0.9) | % | (3.1) | % | (3.7) | % | (0.3) | % | (1.7) | % | (1.8) | % | ||||||||||||||||||||||||||||||||||
|
Discrete Tax Adjustments
|
— | % | — | % | — | % | — | % | 1.6 | % | — | % | — | % | — | % | ||||||||||||||||||||||||||||||||||
|
Other
|
0.1 | % | 0.1 | % | (0.2) | % | — | % | (0.1) | % | 0.1 | % | 0.1 | % | (0.3) | % | ||||||||||||||||||||||||||||||||||
| Effective Income Tax Rate | 5.5 | % | (10.8) | % | 21.1 | % | 1.3 | % | 3.2 | % | 11.8 | % | 2.2 | % | 2.3 | % | ||||||||||||||||||||||||||||||||||
| Type of Debt | June 30, 2021 | December 31, 2020 | ||||||||||||
| (in millions) | ||||||||||||||
| Senior Unsecured Notes | $ | 26,778.5 | $ | 25,116.1 | ||||||||||
| Pollution Control Bonds | 1,880.2 | 1,936.7 | ||||||||||||
| Notes Payable | 260.7 | 239.1 | ||||||||||||
| Securitization Bonds | 663.7 | 716.4 | ||||||||||||
| Spent Nuclear Fuel Obligation (a) | 281.2 | 281.2 | ||||||||||||
| Junior Subordinated Notes (b) | 1,628.0 | 1,624.1 | ||||||||||||
| Other Long-term Debt | 1,625.5 | 1,158.9 | ||||||||||||
| Total Long-term Debt Outstanding | 33,117.8 | 31,072.5 | ||||||||||||
| Long-term Debt Due Within One Year | 2,458.5 | 2,086.1 | ||||||||||||
| Long-term Debt | $ | 30,659.3 | $ | 28,986.4 | ||||||||||
| Principal | Interest | |||||||||||||||||||||||||
| Company | Type of Debt | Amount (a) | Rate | Due Date | ||||||||||||||||||||||
| Issuances: | (in millions) | (%) | ||||||||||||||||||||||||
| AEP Texas | Senior Unsecured Notes | $ | 450.0 | 3.45 | 2051 | |||||||||||||||||||||
| APCo | Senior Unsecured Notes | 500.0 | 2.70 | 2031 | ||||||||||||||||||||||
| I&M | Notes Payable | 64.9 | 0.93 | 2025 | ||||||||||||||||||||||
| I&M | Senior Unsecured Notes | 450.0 | 3.25 | 2051 | ||||||||||||||||||||||
| OPCo | Senior Unsecured Notes | 450.0 | 1.63 | 2031 | ||||||||||||||||||||||
| PSO | Other Long-term Debt | 500.0 | Variable | 2022 | ||||||||||||||||||||||
| SWEPCo | Senior Unsecured Notes | 500.0 | 1.65 | 2026 | ||||||||||||||||||||||
| Non-Registrant: | ||||||||||||||||||||||||||
| KPCo | Other Long-term Debt | 150.0 | Variable | 2023 | ||||||||||||||||||||||
| Transource Energy | Other Long-term Debt | 17.8 | Variable | 2023 | ||||||||||||||||||||||
| Total Issuances | $ | 3,082.7 | ||||||||||||||||||||||||
| Principal | Interest | |||||||||||||||||||||||||
| Company | Type of Debt | Amount Paid | Rate | Due Date | ||||||||||||||||||||||
|
Retirements and Principal Payments:
|
(in millions) | (%) | ||||||||||||||||||||||||
| AEP Texas | Securitization Bonds | $ | 29.7 | 2.85 | 2024 | |||||||||||||||||||||
| AEP Texas | Securitization Bonds | 11.2 | 2.06 | 2025 | ||||||||||||||||||||||
| APCo | Senior Unsecured Notes | 350.0 | 4.60 | 2021 | ||||||||||||||||||||||
| APCo | Pollution Control Bonds | 17.5 | 4.63 | 2021 | ||||||||||||||||||||||
| APCo | Securitization Bonds | 12.5 | 2.01 | 2023 | ||||||||||||||||||||||
| I&M | Notes Payable | 1.9 | Variable | 2021 | ||||||||||||||||||||||
| I&M | Other Long-term Debt | 200.0 | Variable | 2021 | ||||||||||||||||||||||
| I&M | Pollution Control Bonds | 40.0 | 2.05 | 2021 | ||||||||||||||||||||||
| I&M | Notes Payable | 3.0 | Variable | 2022 | ||||||||||||||||||||||
| I&M | Notes Payable | 4.2 | Variable | 2022 | ||||||||||||||||||||||
| I&M | Notes Payable | 9.6 | Variable | 2023 | ||||||||||||||||||||||
| I&M | Notes Payable | 9.0 | Variable | 2024 | ||||||||||||||||||||||
| I&M | Other Long-term Debt | 1.0 | 6.00 | 2025 | ||||||||||||||||||||||
| I&M | Notes Payable | 13.0 | Variable | 2025 | ||||||||||||||||||||||
| I&M | Notes Payable | 1.0 | 0.93 | 2025 | ||||||||||||||||||||||
| OPCo | Other Long-term Debt | 0.1 | 1.15 | 2028 | ||||||||||||||||||||||
| PSO | Senior Unsecured Notes | 250.0 | 4.40 | 2021 | ||||||||||||||||||||||
| PSO | Other Long-term Debt | 0.3 | 3.00 | 2027 | ||||||||||||||||||||||
| SWEPCo | Other Long-term Debt | 1.5 | 4.68 | 2028 | ||||||||||||||||||||||
| SWEPCo | Notes Payable | 1.6 | 4.58 | 2032 | ||||||||||||||||||||||
| Non-Registrant: | ||||||||||||||||||||||||||
| KPCo | Senior Unsecured Notes | 39.8 | 7.25 | 2021 | ||||||||||||||||||||||
| Transource Energy | Senior Unsecured Notes | 1.2 | 2.75 | 2050 | ||||||||||||||||||||||
|
Total Retirements and Principal Payments
|
$ | 998.1 | ||||||||||||||||||||||||
| Maximum | Average | Net Loans to | |||||||||||||||||||||||||||||||||||||||
| Borrowings | Maximum | Borrowings | Average | (Borrowings) from | Authorized | ||||||||||||||||||||||||||||||||||||
| from the | Loans to the | from the | Loans to the | the Utility Money | Short-term | ||||||||||||||||||||||||||||||||||||
| Utility | Utility | Utility | Utility | Pool as of | Borrowing | ||||||||||||||||||||||||||||||||||||
| Company | Money Pool | Money Pool | Money Pool | Money Pool | June 30, 2021 | Limit | |||||||||||||||||||||||||||||||||||
| (in millions) | |||||||||||||||||||||||||||||||||||||||||
| AEP Texas | $ | 355.5 | $ | 104.7 | $ | 234.7 | $ | 73.1 | $ | 47.4 | $ | 500.0 | |||||||||||||||||||||||||||||
| AEPTCo | 357.7 | 10.6 | 260.7 | 1.9 | (257.8) | 820.0 | (a) | ||||||||||||||||||||||||||||||||||
| APCo | 27.8 | 616.9 | 13.2 | 136.0 | 91.7 | 500.0 | |||||||||||||||||||||||||||||||||||
| I&M | 166.5 | 368.2 | 117.5 | 58.1 | 99.9 | 500.0 | |||||||||||||||||||||||||||||||||||
| OPCo | 259.2 | 222.4 | 59.5 | 102.6 | (56.3) | 500.0 | |||||||||||||||||||||||||||||||||||
| PSO | 267.7 | 210.1 | 156.1 | 122.0 | (135.1) | 300.0 | |||||||||||||||||||||||||||||||||||
| SWEPCo | 280.3 | 156.4 | 170.6 | 142.0 | (122.0) | 350.0 | |||||||||||||||||||||||||||||||||||
| 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, 2021 | |||||||||||||||||
| (in millions) | ||||||||||||||||||||
| AEP Texas | $ | 7.1 | $ | 6.9 | $ | 6.9 | ||||||||||||||
| SWEPCo | 2.1 | 2.1 | 2.1 | |||||||||||||||||
| 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, 2021 | June 30, 2021 | Borrowing Limit | |||||||||||||||||||||||||||||||||||
| (in millions) | |||||||||||||||||||||||||||||||||||||||||
| $ | 1.5 | $ | 224.2 | $ | 1.2 | $ | 148.5 | $ | 1.4 | $ | 107.5 | $ | 50.0 | (a) | |||||||||||||||||||||||||||
| Six Months Ended June 30, | ||||||||||||||
| 2021 | 2020 | |||||||||||||
| Maximum Interest Rate | 0.40 | % | 2.70 | % | ||||||||||
| Minimum Interest Rate | 0.25 | % | 0.33 | % | ||||||||||
| Average Interest Rate for Funds | Average Interest Rate for Funds | |||||||||||||||||||||||||
| Borrowed from the Utility Money Pool | Loaned to the Utility Money Pool | |||||||||||||||||||||||||
| for Six Months Ended June 30, | for Six Months Ended June 30, | |||||||||||||||||||||||||
| Company | 2021 | 2020 | 2021 | 2020 | ||||||||||||||||||||||
| AEP Texas | 0.33 | % | 1.55 | % | 0.36 | % | 1.97 | % | ||||||||||||||||||
| AEPTCo | 0.33 | % | 1.94 | % | 0.34 | % | 2.06 | % | ||||||||||||||||||
| APCo | 0.28 | % | 2.14 | % | 0.36 | % | 1.62 | % | ||||||||||||||||||
| I&M | 0.32 | % | 1.80 | % | 0.35 | % | 1.87 | % | ||||||||||||||||||
| OPCo | 0.34 | % | 1.80 | % | 0.29 | % | 2.06 | % | ||||||||||||||||||
| PSO | 0.34 | % | 1.71 | % | 0.28 | % | 1.95 | % | ||||||||||||||||||
| SWEPCo | 0.32 | % | 1.87 | % | 0.38 | % | — | % | ||||||||||||||||||
| Six Months Ended June 30, 2021 | Six Months Ended June 30, 2020 | |||||||||||||||||||||||||||||||||||||
| Maximum | Minimum | Average | Maximum | Minimum | Average | |||||||||||||||||||||||||||||||||
| Interest Rate | Interest Rate | Interest Rate | Interest Rate | Interest Rate | Interest Rate | |||||||||||||||||||||||||||||||||
| for Funds | for Funds | for Funds | for Funds | for Funds | for Funds | |||||||||||||||||||||||||||||||||
| Loaned to | Loaned to | Loaned to | Loaned to | Loaned to | Loaned to | |||||||||||||||||||||||||||||||||
| the Nonutility | the Nonutility | the Nonutility | the Nonutility | the Nonutility | the Nonutility | |||||||||||||||||||||||||||||||||
| Company | Money Pool | Money Pool | Money Pool | Money Pool | Money Pool | Money Pool | ||||||||||||||||||||||||||||||||
| AEP Texas | 0.40 | % | 0.25 | % | 0.33 | % | 2.70 | % | 0.33 | % | 1.87 | % | ||||||||||||||||||||||||||
| SWEPCo | 0.40 | % | 0.25 | % | 0.33 | % | 2.70 | % | 0.33 | % | 1.87 | % | ||||||||||||||||||||||||||
| Maximum | Minimum | Maximum | Minimum | Average | Average | |||||||||||||||||||||||||||||||||
| Interest Rate | Interest Rate | Interest Rate | Interest Rate | Interest Rate | Interest Rate | |||||||||||||||||||||||||||||||||
| Six Months | for Funds | for Funds | for Funds | for Funds | for Funds | for Funds | ||||||||||||||||||||||||||||||||
| Ended | Borrowed | Borrowed | Loaned | Loaned | Borrowed | Loaned | ||||||||||||||||||||||||||||||||
| June 30, | from AEP | from AEP | to AEP | to AEP | from AEP | to AEP | ||||||||||||||||||||||||||||||||
| 2021 | 0.86 | % | 0.25 | % | 0.86 | % | 0.25 | % | 0.33 | % | 0.33 | % | ||||||||||||||||||||||||||
| 2020 | 2.70 | % | 0.50 | % | 2.70 | % | 0.50 | % | 1.88 | % | 1.86 | % | ||||||||||||||||||||||||||
| June 30, 2021 | December 31, 2020 | |||||||||||||||||||||||||||||||
| Outstanding | Interest | Outstanding | Interest | |||||||||||||||||||||||||||||
| Company | Type of Debt | Amount | Rate (a) | Amount | Rate (a) | |||||||||||||||||||||||||||
| (dollars in millions) | ||||||||||||||||||||||||||||||||
| AEP | Securitized Debt for Receivables (b) | $ | 578.2 | 0.20 | % | $ | 592.0 | 0.85 | % | |||||||||||||||||||||||
| AEP | Commercial Paper | 2,049.8 | 0.27 | % | 1,852.3 | 0.29 | % | |||||||||||||||||||||||||
| AEP | 364-Day Term Loan | 500.0 | 0.74 | % | — | — | % | |||||||||||||||||||||||||
| SWEPCo | Notes Payable | — | — | % | 35.0 | 2.55 | % | |||||||||||||||||||||||||
| Total Short-term Debt | $ | 3,128.0 | $ | 2,479.3 | ||||||||||||||||||||||||||||
| Three Months Ended | Six Months Ended | |||||||||||||||||||||||||
| June 30, | June 30, | |||||||||||||||||||||||||
| 2021 | 2020 | 2021 | 2020 | |||||||||||||||||||||||
| (dollars in millions) | ||||||||||||||||||||||||||
|
Effective Interest Rates on Securitization of Accounts Receivable
|
0.19 | % | 1.06 | % | 0.20 | % | 1.40 | % | ||||||||||||||||||
| Net Uncollectible Accounts Receivable Written-Off | $ | 5.8 | $ | 3.4 | $ | 15.1 | $ | 7.6 | ||||||||||||||||||
| June 30, 2021 | December 31, 2020 | |||||||||||||
| (in millions) | ||||||||||||||
|
Accounts Receivable Retained Interest and Pledged as Collateral Less Uncollectible Accounts
|
$ | 965.0 | $ | 958.4 | ||||||||||
| Short-term – Securitized Debt of Receivables | 578.2 | 592.0 | ||||||||||||
| Delinquent Securitized Accounts Receivable | 62.7 | 62.3 | ||||||||||||
| Bad Debt Reserves Related to Securitization | 38.1 | 60.0 | ||||||||||||
| Unbilled Receivables Related to Securitization | 304.1 | 296.8 | ||||||||||||
| Company | June 30, 2021 | December 31, 2020 | ||||||||||||
| (in millions) | ||||||||||||||
| APCo | $ | 117.8 | $ | 136.0 | ||||||||||
| I&M | 164.6 | 170.5 | ||||||||||||
| OPCo | 375.8 | 398.8 | ||||||||||||
| PSO | 117.6 | 85.0 | ||||||||||||
| SWEPCo | 169.0 | 158.6 | ||||||||||||
| Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||||||||||||
| Company | 2021 (a) | 2020 | 2021 (a) | 2020 | ||||||||||||||||||||||
| (in millions) | ||||||||||||||||||||||||||
| APCo | $ | 1.2 | $ | 1.3 | $ | 2.4 | $ | 3.0 | ||||||||||||||||||
| I&M | 1.6 | 2.6 | 3.2 | 5.4 | ||||||||||||||||||||||
| OPCo | (2.4) | 5.0 | (1.1) | 9.8 | ||||||||||||||||||||||
| PSO | 0.6 | 1.0 | 1.3 | 2.3 | ||||||||||||||||||||||
| SWEPCo | 1.3 | 1.9 | 2.8 | 4.0 | ||||||||||||||||||||||
| Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||||||||||||
| Company | 2021 | 2020 | 2021 | 2020 | ||||||||||||||||||||||
| (in millions) | ||||||||||||||||||||||||||
| APCo | $ | 276.0 | $ | 285.7 | $ | 638.4 | $ | 638.3 | ||||||||||||||||||
| I&M | 463.3 | 439.9 | 942.1 | 911.3 | ||||||||||||||||||||||
| OPCo | 597.8 | 556.7 | 1,199.1 | 1,127.0 | ||||||||||||||||||||||
| PSO | 323.8 | 297.3 | 608.7 | 592.2 | ||||||||||||||||||||||
| SWEPCo | 392.6 | 381.4 | 777.0 | 747.0 | ||||||||||||||||||||||
| Company | ARO as of December 31, 2020 |
Accretion
Expense |
Liabilities
Incurred |
Liabilities
Settled |
Revisions in
Cash Flow Estimates |
ARO as of June 30, 2021
|
||||||||||||||||||||||||||||||||
| (in millions) | ||||||||||||||||||||||||||||||||||||||
| AEP (a)(b)(c)(d) | $ | 2,516.7 | $ | 51.1 | $ | 7.6 | $ | (18.1) | $ | 66.4 | $ | 2,623.7 | ||||||||||||||||||||||||||
| APCo (a)(d) | 313.1 | 6.1 | — | (3.7) | 78.6 | 394.1 | ||||||||||||||||||||||||||||||||
| Three Months Ended June 30, 2021 | ||||||||||||||||||||||||||||||||||||||||||||
| Vertically Integrated Utilities | Transmission and Distribution Utilities | AEP Transmission Holdco | Generation & Marketing | Corporate and Other | Reconciling Adjustments | AEP Consolidated | ||||||||||||||||||||||||||||||||||||||
| (in millions) | ||||||||||||||||||||||||||||||||||||||||||||
| Retail Revenues: | ||||||||||||||||||||||||||||||||||||||||||||
| Residential Revenues | $ | 825.8 | $ | 495.1 | $ | — | $ | — | $ | — | $ | — | $ | 1,320.9 | ||||||||||||||||||||||||||||||
| Commercial Revenues | 536.9 | 285.0 | — | — | — | — | 821.9 | |||||||||||||||||||||||||||||||||||||
| Industrial Revenues | 552.5 | 102.9 | — | — | — | (0.2) | 655.2 | |||||||||||||||||||||||||||||||||||||
| Other Retail Revenues | 40.6 | 11.3 | — | — | — | — | 51.9 | |||||||||||||||||||||||||||||||||||||
| Total Retail Revenues | 1,955.8 | 894.3 | — | — | — | (0.2) | 2,849.9 | |||||||||||||||||||||||||||||||||||||
|
Wholesale and Competitive Retail Revenues:
|
||||||||||||||||||||||||||||||||||||||||||||
| Generation Revenues | 170.7 | — | — | 31.1 | — | — | 201.8 | |||||||||||||||||||||||||||||||||||||
| Transmission Revenues (a) | 78.5 | 139.6 | 355.9 | — | — | (284.8) | 289.2 | |||||||||||||||||||||||||||||||||||||
| Renewable Generation Revenues (b) | — | — | — | 20.2 | — | (0.4) | 19.8 | |||||||||||||||||||||||||||||||||||||
| Retail, Trading and Marketing Revenues (c) | — | — | — | 358.7 | (0.7) | (13.6) | 344.4 | |||||||||||||||||||||||||||||||||||||
|
Total Wholesale and Competitive Retail Revenues
|
249.2 | 139.6 | 355.9 | 410.0 | (0.7) | (298.8) | 855.2 | |||||||||||||||||||||||||||||||||||||
| Other Revenues from Contracts with Customers (b) | 44.4 | 43.0 | 2.8 | 2.0 | 14.0 | (26.6) | 79.6 | |||||||||||||||||||||||||||||||||||||
|
Total Revenues from Contracts with Customers
|
2,249.4 | 1,076.9 | 358.7 | 412.0 | 13.3 | (325.6) | 3,784.7 | |||||||||||||||||||||||||||||||||||||
| Other Revenues: | ||||||||||||||||||||||||||||||||||||||||||||
| Alternative Revenues (b) | 10.9 | 22.5 | 19.5 | — | — | (40.2) | 12.7 | |||||||||||||||||||||||||||||||||||||
| Other Revenues (b) | 0.3 | 4.0 | — | 24.6 | 2.2 | (2.0) | 29.1 | |||||||||||||||||||||||||||||||||||||
| Total Other Revenues | 11.2 | 26.5 | 19.5 | 24.6 | 2.2 | (42.2) | 41.8 | |||||||||||||||||||||||||||||||||||||
| Total Revenues | $ | 2,260.6 | $ | 1,103.4 | $ | 378.2 | $ | 436.6 | $ | 15.5 | $ | (367.8) | $ | 3,826.5 | ||||||||||||||||||||||||||||||
| Three Months Ended June 30, 2020 | ||||||||||||||||||||||||||||||||||||||||||||
| Vertically Integrated Utilities | Transmission and Distribution Utilities | AEP Transmission Holdco | Generation & Marketing | Corporate and Other | Reconciling Adjustments | AEP Consolidated | ||||||||||||||||||||||||||||||||||||||
| (in millions) | ||||||||||||||||||||||||||||||||||||||||||||
| Retail Revenues: | ||||||||||||||||||||||||||||||||||||||||||||
| Residential Revenues | $ | 820.7 | $ | 494.5 | $ | — | $ | — | $ | — | $ | — | $ | 1,315.2 | ||||||||||||||||||||||||||||||
| Commercial Revenues | 474.5 | 256.3 | — | — | — | — | 730.8 | |||||||||||||||||||||||||||||||||||||
| Industrial Revenues | 486.0 | 98.7 | — | — | — | (0.2) | 584.5 | |||||||||||||||||||||||||||||||||||||
| Other Retail Revenues | 36.9 | 10.3 | — | — | — | — | 47.2 | |||||||||||||||||||||||||||||||||||||
| Total Retail Revenues | 1,818.1 | 859.8 | — | — | — | (0.2) | 2,677.7 | |||||||||||||||||||||||||||||||||||||
|
Wholesale and Competitive Retail Revenues:
|
||||||||||||||||||||||||||||||||||||||||||||
| Generation Revenues | 148.6 | — | — | 31.5 | — | — | 180.1 | |||||||||||||||||||||||||||||||||||||
| Transmission Revenues (a) | 84.1 | 108.4 | 310.2 | — | — | (201.8) | 300.9 | |||||||||||||||||||||||||||||||||||||
| Renewable Generation Revenues (b) | — | — | — | 17.7 | — | (0.3) | 17.4 | |||||||||||||||||||||||||||||||||||||
|
Retail, Trading and Marketing Revenues (c)
|
— | — | — | 327.6 | (0.6) | (26.5) | 300.5 | |||||||||||||||||||||||||||||||||||||
|
Total Wholesale and Competitive Retail Revenues
|
232.7 | 108.4 | 310.2 | 376.8 | (0.6) | (228.6) | 798.9 | |||||||||||||||||||||||||||||||||||||
| Other Revenues from Contracts with Customers (b) | 46.4 | 33.1 | 11.4 | 0.7 | 22.4 | (31.4) | 82.6 | |||||||||||||||||||||||||||||||||||||
|
Total Revenues from Contracts with Customers
|
2,097.2 | 1,001.3 | 321.6 | 377.5 | 21.8 | (260.2) | 3,559.2 | |||||||||||||||||||||||||||||||||||||
| Other Revenues: | ||||||||||||||||||||||||||||||||||||||||||||
| Alternative Revenues (b) | (5.2) | 20.6 | (71.9) | — | — | (7.6) | (64.1) | |||||||||||||||||||||||||||||||||||||
| Other Revenues (b) | — | 12.6 | — | (0.6) | (2.3) | (10.8) | (1.1) | |||||||||||||||||||||||||||||||||||||
| Total Other Revenues | (5.2) | 33.2 | (71.9) | (0.6) | (2.3) | (18.4) | (65.2) | |||||||||||||||||||||||||||||||||||||
| Total Revenues | $ | 2,092.0 | $ | 1,034.5 | $ | 249.7 | $ | 376.9 | $ | 19.5 | $ | (278.6) | $ | 3,494.0 | ||||||||||||||||||||||||||||||
| Three Months Ended June 30, 2021 | ||||||||||||||||||||||||||||||||||||||||||||
| AEP Texas | AEPTCo | APCo | I&M | OPCo | PSO | SWEPCo | ||||||||||||||||||||||||||||||||||||||
| (in millions) | ||||||||||||||||||||||||||||||||||||||||||||
| Retail Revenues: | ||||||||||||||||||||||||||||||||||||||||||||
| Residential Revenues | $ | 128.5 | $ | — | $ | 268.0 | $ | 179.1 | $ | 366.8 | $ | 142.8 | $ | 149.9 | ||||||||||||||||||||||||||||||
| Commercial Revenues | 95.4 | — | 132.4 | 127.0 | 189.6 | 93.2 | 127.1 | |||||||||||||||||||||||||||||||||||||
| Industrial Revenues | 29.7 | — | 147.7 | 143.7 | 73.2 | 68.6 | 91.1 | |||||||||||||||||||||||||||||||||||||
| Other Retail Revenues | 8.1 | — | 16.2 | 1.2 | 3.1 | 19.1 | 2.6 | |||||||||||||||||||||||||||||||||||||
| Total Retail Revenues | 261.7 | — | 564.3 | 451.0 | 632.7 | 323.7 | 370.7 | |||||||||||||||||||||||||||||||||||||
| Wholesale Revenues: | ||||||||||||||||||||||||||||||||||||||||||||
| Generation Revenues (a) | — | — | 75.1 | 88.3 | — | 6.7 | 20.5 | |||||||||||||||||||||||||||||||||||||
| Transmission Revenues (b) | 121.0 | 339.9 | 24.7 | 8.3 | 18.6 | 8.8 | 28.5 | |||||||||||||||||||||||||||||||||||||
| Total Wholesale Revenues | 121.0 | 339.9 | 99.8 | 96.6 | 18.6 | 15.5 | 49.0 | |||||||||||||||||||||||||||||||||||||
|
Other Revenues from Contracts with Customers (c)
|
12.4 | 2.9 | 8.0 | 37.0 | 30.5 | 3.9 | 5.2 | |||||||||||||||||||||||||||||||||||||
|
Total Revenues from Contracts with Customers
|
395.1 | 342.8 | 672.1 | 584.6 | 681.8 | 343.1 | 424.9 | |||||||||||||||||||||||||||||||||||||
| Other Revenues: | ||||||||||||||||||||||||||||||||||||||||||||
| Alternative Revenues (d) | 3.4 | 22.7 | 5.1 | (0.8) | 19.1 | 1.4 | 5.2 | |||||||||||||||||||||||||||||||||||||
| Other Revenues (d) | — | — | (0.2) | — | 4.0 | — | — | |||||||||||||||||||||||||||||||||||||
| Total Other Revenues | 3.4 | 22.7 | 4.9 | (0.8) | 23.1 | 1.4 | 5.2 | |||||||||||||||||||||||||||||||||||||
| Total Revenues | $ | 398.5 | $ | 365.5 | $ | 677.0 | $ | 583.8 | $ | 704.9 | $ | 344.5 | $ | 430.1 | ||||||||||||||||||||||||||||||
| Three Months Ended June 30, 2020 | ||||||||||||||||||||||||||||||||||||||||||||
| AEP Texas | AEPTCo | APCo | I&M | OPCo | PSO | SWEPCo | ||||||||||||||||||||||||||||||||||||||
| (in millions) | ||||||||||||||||||||||||||||||||||||||||||||
| Retail Revenues: | ||||||||||||||||||||||||||||||||||||||||||||
| Residential Revenues | $ | 149.6 | $ | — | $ | 272.7 | $ | 186.9 | $ | 344.8 | $ | 139.2 | $ | 147.7 | ||||||||||||||||||||||||||||||
| Commercial Revenues | 94.4 | — | 119.9 | 118.0 | 162.1 | 77.3 | 110.6 | |||||||||||||||||||||||||||||||||||||
| Industrial Revenues | 31.3 | — | 134.5 | 130.7 | 67.3 | 54.5 | 82.3 | |||||||||||||||||||||||||||||||||||||
| Other Retail Revenues | 7.0 | — | 15.4 | 1.6 | 3.3 | 16.2 | 2.3 | |||||||||||||||||||||||||||||||||||||
| Total Retail Revenues | 282.3 | — | 542.5 | 437.2 | 577.5 | 287.2 | 342.9 | |||||||||||||||||||||||||||||||||||||
| Wholesale Revenues: | ||||||||||||||||||||||||||||||||||||||||||||
| Generation Revenues (a) | — | — | 60.9 | 75.6 | — | 2.2 | 30.3 | |||||||||||||||||||||||||||||||||||||
| Transmission Revenues (b) | 91.7 | 298.7 | 30.3 | 7.3 | 16.8 | 3.9 | 33.4 | |||||||||||||||||||||||||||||||||||||
| Total Wholesale Revenues | 91.7 | 298.7 | 91.2 | 82.9 | 16.8 | 6.1 | 63.7 | |||||||||||||||||||||||||||||||||||||
|
Other Revenues from Contracts with Customers (c)
|
10.3 | 11.1 | 13.5 | 21.9 | 22.7 | 13.7 | 9.7 | |||||||||||||||||||||||||||||||||||||
|
Total Revenues from Contracts with Customers
|
384.3 | 309.8 | 647.2 | 542.0 | 617.0 | 307.0 | 416.3 | |||||||||||||||||||||||||||||||||||||
| Other Revenues: | ||||||||||||||||||||||||||||||||||||||||||||
| Alternative Revenues (d) | 1.1 | (71.7) | (9.7) | 4.6 | 19.6 | 1.6 | (1.3) | |||||||||||||||||||||||||||||||||||||
| Other Revenues (d) | 16.1 | — | — | — | 3.8 | — | — | |||||||||||||||||||||||||||||||||||||
| Total Other Revenues | 17.2 | (71.7) | (9.7) | 4.6 | 23.4 | 1.6 | (1.3) | |||||||||||||||||||||||||||||||||||||
| Total Revenues | $ | 401.5 | $ | 238.1 | $ | 637.5 | $ | 546.6 | $ | 640.4 | $ | 308.6 | $ | 415.0 | ||||||||||||||||||||||||||||||
| Six Months Ended June 30, 2021 | ||||||||||||||||||||||||||||||||||||||||||||
| Vertically Integrated Utilities | Transmission and Distribution Utilities | AEP Transmission Holdco | Generation & Marketing | Corporate and Other | Reconciling Adjustments | AEP Consolidated | ||||||||||||||||||||||||||||||||||||||
| (in millions) | ||||||||||||||||||||||||||||||||||||||||||||
| Retail Revenues: | ||||||||||||||||||||||||||||||||||||||||||||
| Residential Revenues | $ | 1,871.9 | $ | 1,043.2 | $ | — | $ | — | $ | — | $ | — | $ | 2,915.1 | ||||||||||||||||||||||||||||||
| Commercial Revenues | 1,023.1 | 524.2 | — | — | — | — | 1,547.3 | |||||||||||||||||||||||||||||||||||||
| Industrial Revenues | 1,036.5 | 188.6 | — | — | — | (0.4) | 1,224.7 | |||||||||||||||||||||||||||||||||||||
| Other Retail Revenues | 78.4 | 21.3 | — | — | — | — | 99.7 | |||||||||||||||||||||||||||||||||||||
| Total Retail Revenues | 4,009.9 | 1,777.3 | — | — | — | (0.4) | 5,786.8 | |||||||||||||||||||||||||||||||||||||
| Wholesale and Competitive Retail Revenues: | ||||||||||||||||||||||||||||||||||||||||||||
| Generation Revenues | 523.3 | — | — | 71.6 | — | — | 594.9 | |||||||||||||||||||||||||||||||||||||
| Transmission Revenues (a) | 167.5 | 270.1 | 716.3 | — | — | (584.1) | 569.8 | |||||||||||||||||||||||||||||||||||||
| Renewable Generation Revenues (b) | — | — | — | 42.6 | — | (1.1) | 41.5 | |||||||||||||||||||||||||||||||||||||
| Retail, Trading and Marketing Revenues (c) | — | — | — | 928.5 | 0.5 | (45.4) | 883.6 | |||||||||||||||||||||||||||||||||||||
| Total Wholesale and Competitive Retail Revenues | 690.8 | 270.1 | 716.3 | 1,042.7 | 0.5 | (630.6) | 2,089.8 | |||||||||||||||||||||||||||||||||||||
| Other Revenues from Contracts with Customers (b) | 86.7 | 95.1 | 7.4 | 3.5 | 22.6 | (47.8) | 167.5 | |||||||||||||||||||||||||||||||||||||
| Total Revenues from Contracts with Customers | 4,787.4 | 2,142.5 | 723.7 | 1,046.2 | 23.1 | (678.8) | 8,044.1 | |||||||||||||||||||||||||||||||||||||
| Other Revenues: | ||||||||||||||||||||||||||||||||||||||||||||
| Alternative Revenues (b) | 10.2 | 39.7 | 31.5 | — | — | (51.8) | 29.6 | |||||||||||||||||||||||||||||||||||||
| Other Revenues (b) | 0.3 | 9.3 | — | 24.6 | 5.3 | (5.6) | 33.9 | |||||||||||||||||||||||||||||||||||||
| Total Other Revenues | 10.5 | 49.0 | 31.5 | 24.6 | 5.3 | (57.4) | 63.5 | |||||||||||||||||||||||||||||||||||||
| Total Revenues | $ | 4,797.9 | $ | 2,191.5 | $ | 755.2 | $ | 1,070.8 | $ | 28.4 | $ | (736.2) | $ | 8,107.6 | ||||||||||||||||||||||||||||||
| Six Months Ended June 30, 2020 | ||||||||||||||||||||||||||||||||||||||||||||
| Vertically Integrated Utilities | Transmission and Distribution Utilities | AEP Transmission Holdco | Generation & Marketing | Corporate and Other | Reconciling Adjustments | AEP Consolidated | ||||||||||||||||||||||||||||||||||||||
| (in millions) | ||||||||||||||||||||||||||||||||||||||||||||
| Retail Revenues: | ||||||||||||||||||||||||||||||||||||||||||||
| Residential Revenues | $ | 1,735.8 | $ | 1,015.8 | $ | — | $ | — | $ | — | $ | — | $ | 2,751.6 | ||||||||||||||||||||||||||||||
| Commercial Revenues | 963.9 | 533.2 | — | — | — | — | 1,497.1 | |||||||||||||||||||||||||||||||||||||
| Industrial Revenues | 1,004.2 | 196.5 | — | — | — | (0.4) | 1,200.3 | |||||||||||||||||||||||||||||||||||||
| Other Retail Revenues | 76.8 | 22.1 | — | — | — | — | 98.9 | |||||||||||||||||||||||||||||||||||||
| Total Retail Revenues | 3,780.7 | 1,767.6 | — | — | — | (0.4) | 5,547.9 | |||||||||||||||||||||||||||||||||||||
|
Wholesale and Competitive Retail Revenues:
|
||||||||||||||||||||||||||||||||||||||||||||
| Generation Revenues | 289.0 | — | — | 75.6 | — | — | 364.6 | |||||||||||||||||||||||||||||||||||||
| Transmission Revenues (a) | 164.0 | 222.5 | 620.0 | — | — | (464.8) | 541.7 | |||||||||||||||||||||||||||||||||||||
| Renewable Generation Revenues (b) | — | — | — | 34.9 | — | (0.9) | 34.0 | |||||||||||||||||||||||||||||||||||||
|
Retail, Trading and Marketing Revenues (c)
|
— | — | — | 686.3 | (6.6) | (55.9) | 623.8 | |||||||||||||||||||||||||||||||||||||
|
Total Wholesale and Competitive Retail Revenues
|
453.0 | 222.5 | 620.0 | 796.8 | (6.6) | (521.6) | 1,564.1 | |||||||||||||||||||||||||||||||||||||
| Other Revenues from Contracts with Customers (b) | 90.0 | 69.5 | 15.1 | 1.0 | 50.5 | (72.0) | 154.1 | |||||||||||||||||||||||||||||||||||||
|
Total Revenues from Contracts with Customers
|
4,323.7 | 2,059.6 | 635.1 | 797.8 | 43.9 | (594.0) | 7,266.1 | |||||||||||||||||||||||||||||||||||||
| Other Revenues: | ||||||||||||||||||||||||||||||||||||||||||||
| Alternative Revenues (b) | (5.0) | 39.9 | (75.2) | — | — | (3.1) | (43.4) | |||||||||||||||||||||||||||||||||||||
| Other Revenues (b) | — | 41.9 | — | 17.7 | (4.5) | (36.3) | 18.8 | |||||||||||||||||||||||||||||||||||||
| Total Other Revenues | (5.0) | 81.8 | (75.2) | 17.7 | (4.5) | (39.4) | (24.6) | |||||||||||||||||||||||||||||||||||||
| Total Revenues | $ | 4,318.7 | $ | 2,141.4 | $ | 559.9 | $ | 815.5 | $ | 39.4 | $ | (633.4) | $ | 7,241.5 | ||||||||||||||||||||||||||||||
| Six Months Ended June 30, 2021 | ||||||||||||||||||||||||||||||||||||||||||||
| AEP Texas | AEPTCo | APCo | I&M | OPCo | PSO | SWEPCo | ||||||||||||||||||||||||||||||||||||||
| (in millions) | ||||||||||||||||||||||||||||||||||||||||||||
| Retail Revenues: | ||||||||||||||||||||||||||||||||||||||||||||
| Residential Revenues | $ | 251.2 | $ | — | $ | 684.9 | $ | 392.7 | $ | 792.1 | $ | 279.6 | $ | 316.2 | ||||||||||||||||||||||||||||||
| Commercial Revenues | 176.1 | — | 262.6 | 240.6 | 348.1 | 165.9 | 240.0 | |||||||||||||||||||||||||||||||||||||
| Industrial Revenues | 56.2 | — | 278.6 | 272.1 | 132.4 | 125.0 | 161.7 | |||||||||||||||||||||||||||||||||||||
| Other Retail Revenues | 14.9 | — | 33.1 | 2.6 | 6.3 | 34.8 | 4.9 | |||||||||||||||||||||||||||||||||||||
| Total Retail Revenues | 498.4 | — | 1,259.2 | 908.0 | 1,278.9 | 605.3 | 722.8 | |||||||||||||||||||||||||||||||||||||
| Wholesale Revenues: | ||||||||||||||||||||||||||||||||||||||||||||
| Generation Revenues (a) | — | — | 147.5 | 167.9 | — | (0.4) | 249.1 | |||||||||||||||||||||||||||||||||||||
| Transmission Revenues (b) | 233.0 | 685.1 | 58.9 | 16.6 | 37.1 | 18.2 | 57.4 | |||||||||||||||||||||||||||||||||||||
| Total Wholesale Revenues | 233.0 | 685.1 | 206.4 | 184.5 | 37.1 | 17.8 | 306.5 | |||||||||||||||||||||||||||||||||||||
|
Other Revenues from Contracts with Customers (c)
|
28.6 | 7.5 | 21.1 | 57.7 | 66.5 | 16.5 | 11.6 | |||||||||||||||||||||||||||||||||||||
|
Total Revenues from Contracts with Customers
|
760.0 | 692.6 | 1,486.7 | 1,150.2 | 1,382.5 | 639.6 | 1,040.9 | |||||||||||||||||||||||||||||||||||||
| Other Revenues: | ||||||||||||||||||||||||||||||||||||||||||||
| Alternative Revenues (d) | 2.7 | 34.6 | 7.3 | (1.9) | 37.0 | 1.0 | 5.3 | |||||||||||||||||||||||||||||||||||||
| Other Revenues (d) | — | — | — | — | 9.3 | — | — | |||||||||||||||||||||||||||||||||||||
| Total Other Revenues | 2.7 | 34.6 | 7.3 | (1.9) | 46.3 | 1.0 | 5.3 | |||||||||||||||||||||||||||||||||||||
| Total Revenues | $ | 762.7 | $ | 727.2 | $ | 1,494.0 | $ | 1,148.3 | $ | 1,428.8 | $ | 640.6 | $ | 1,046.2 | ||||||||||||||||||||||||||||||
| Six Months Ended June 30, 2020 | ||||||||||||||||||||||||||||||||||||||||||||
| AEP Texas | AEPTCo | APCo | I&M | OPCo | PSO | SWEPCo | ||||||||||||||||||||||||||||||||||||||
| (in millions) | ||||||||||||||||||||||||||||||||||||||||||||
| Retail Revenues: | ||||||||||||||||||||||||||||||||||||||||||||
| Residential Revenues | $ | 282.5 | $ | — | $ | 630.2 | $ | 388.2 | $ | 733.2 | $ | 267.7 | $ | 279.3 | ||||||||||||||||||||||||||||||
| Commercial Revenues | 207.2 | — | 252.2 | 240.2 | 326.1 | 153.4 | 216.2 | |||||||||||||||||||||||||||||||||||||
| Industrial Revenues | 66.5 | — | 275.6 | 268.5 | 130.0 | 115.8 | 162.1 | |||||||||||||||||||||||||||||||||||||
| Other Retail Revenues | 15.4 | — | 33.3 | 3.4 | 6.7 | 32.8 | 4.3 | |||||||||||||||||||||||||||||||||||||
| Total Retail Revenues | 571.6 | — | 1,191.3 | 900.3 | 1,196.0 | 569.7 | 661.9 | |||||||||||||||||||||||||||||||||||||
| Wholesale Revenues: | ||||||||||||||||||||||||||||||||||||||||||||
| Generation Revenues (a) | — | — | 115.0 | 154.0 | — | 4.1 | 64.4 | |||||||||||||||||||||||||||||||||||||
| Transmission Revenues (b) | 188.6 | 596.9 | 60.7 | 14.7 | 33.9 | 11.7 | 58.8 | |||||||||||||||||||||||||||||||||||||
| Total Wholesale Revenues | 188.6 | 596.9 | 175.7 | 168.7 | 33.9 | 15.8 | 123.2 | |||||||||||||||||||||||||||||||||||||
|
Other Revenues from Contracts with Customers (c)
|
18.2 | 14.5 | 30.7 | 42.9 | 51.3 | 18.4 | 15.5 | |||||||||||||||||||||||||||||||||||||
|
Total Revenues from Contracts with Customers
|
778.4 | 611.4 | 1,397.7 | 1,111.9 | 1,281.2 | 603.9 | 800.6 | |||||||||||||||||||||||||||||||||||||
| Other Revenues: | ||||||||||||||||||||||||||||||||||||||||||||
| Alternative Revenues (d) | 0.4 | (77.7) | (10.8) | 5.0 | 39.6 | 2.0 | 0.3 | |||||||||||||||||||||||||||||||||||||
| Other Revenues (d) | 46.3 | — | — | — | 9.9 | — | — | |||||||||||||||||||||||||||||||||||||
| Total Other Revenues | 46.7 | (77.7) | (10.8) | 5.0 | 49.5 | 2.0 | 0.3 | |||||||||||||||||||||||||||||||||||||
| Total Revenues | $ | 825.1 | $ | 533.7 | $ | 1,386.9 | $ | 1,116.9 | $ | 1,330.7 | $ | 605.9 | $ | 800.9 | ||||||||||||||||||||||||||||||
| Company | 2021 | 2022-2023 | 2024-2025 | After 2025 | Total | |||||||||||||||||||||||||||
| (in millions) | ||||||||||||||||||||||||||||||||
| AEP | $ | 618.3 | $ | 198.4 | $ | 160.4 | $ | 161.4 | $ | 1,138.5 | ||||||||||||||||||||||
| AEP Texas | 254.5 | — | — | — | 254.5 | |||||||||||||||||||||||||||
| AEPTCo | 663.3 | — | — | — | 663.3 | |||||||||||||||||||||||||||
| APCo | 89.8 | 34.6 | 25.5 | 11.6 | 161.5 | |||||||||||||||||||||||||||
| I&M | 20.0 | 11.5 | 8.8 | 4.5 | 44.8 | |||||||||||||||||||||||||||
| OPCo | 44.5 | 10.1 | — | 0.1 | 54.7 | |||||||||||||||||||||||||||
| PSO | 7.0 | — | — | — | 7.0 | |||||||||||||||||||||||||||
| SWEPCo | 20.1 | — | — | — | 20.1 | |||||||||||||||||||||||||||
| Company | June 30, 2021 | December 31, 2020 | ||||||||||||
| (in millions) | ||||||||||||||
| AEPTCo | $ | 93.9 | $ | 81.0 | ||||||||||
| APCo | 48.5 | 52.7 | ||||||||||||
| I&M | 28.8 | 34.8 | ||||||||||||
| OPCo | 45.7 | 45.9 | ||||||||||||
| PSO | 13.0 | 7.8 | ||||||||||||
| SWEPCo | 21.6 | 11.2 | ||||||||||||
| Exhibit | Description | AEP |
AEP
Texas |
AEPTCo | APCo | I&M | OPCo | PSO | SWEPCo | |||||||||||||||||||||||||||||||||||||||||||||||
| 10 |
General Severance, Stock Award and Release Agreement between American Electric Power Company, Inc. and Brian X. Tierney
|
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| 31(a) |
Certification of Chief Executive Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
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| 31(b) |
Certification of Chief Financial Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
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| 32(a) |
Certification of Chief Executive Officer Pursuant to Section 1350 of Chapter 63 of Title 18 of the United States Code
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| 32(b) |
Certification of Chief Financial Officer Pursuant to Section 1350 of Chapter 63 of Title 18 of the United States Code
|
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| 95 |
Mine Safety Disclosures
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| 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.
|
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| 101.SCH |
XBRL Taxonomy Extension Schema
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X | X | X | X | X | X | X | X | |||||||||||||||||||||||||||||||||||||||||||||||
| 101.CAL |
XBRL Taxonomy Extension Calculation Linkbase
|
X | X | X | X | X | X | X | X | |||||||||||||||||||||||||||||||||||||||||||||||
| 101.DEF |
XBRL Taxonomy Extension Definition Linkbase
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X | X | X | X | X | X | X | X | |||||||||||||||||||||||||||||||||||||||||||||||
| 101.LAB |
XBRL Taxonomy Extension Label Linkbase
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X | X | X | X | X | X | X | X | |||||||||||||||||||||||||||||||||||||||||||||||
| 101.PRE |
XBRL Taxonomy Extension Presentation Linkbase
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X | X | X | X | X | X | X | X | |||||||||||||||||||||||||||||||||||||||||||||||
| 104 |
Cover Page Interactive Data File
|
Formatted as Inline XBRL and contained in Exhibit 101.
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Employee | American Electric Power Company, Inc. | |||||||
| /s/ Brian X. Tierney |
By /s/ Nicholas K. Akins
|
|||||||
| Brian X. Tierney | Nicholas K. Akins | |||||||
| Date May 31, 2021 | Date May 31, 2021 | |||||||
| Date: July 22, 2021 | By: | /s/ Nicholas K. Akins | |||||||||
| Nicholas K. Akins | |||||||||||
| Chief Executive Officer | |||||||||||
| Date: July 22, 2021 | By: | /s/ Nicholas K. Akins | |||||||||
| Nicholas K. Akins | |||||||||||
| Chief Executive Officer | |||||||||||
| Date: July 22, 2021 | By: | /s/ Nicholas K. Akins | |||||||||
| Nicholas K. Akins | |||||||||||
| Chief Executive Officer | |||||||||||
| Date: July 22, 2021 | By: | /s/ Nicholas K. Akins | |||||||||
| Nicholas K. Akins | |||||||||||
| Chief Executive Officer | |||||||||||
| Date: July 22, 2021 | By: | /s/ Nicholas K. Akins | |||||||||
| Nicholas K. Akins | |||||||||||
| Chief Executive Officer | |||||||||||
| Date: July 22, 2021 | By: | /s/ Nicholas K. Akins | |||||||||
| Nicholas K. Akins | |||||||||||
| Chief Executive Officer | |||||||||||
| Date: July 22, 2021 | By: | /s/ Nicholas K. Akins | |||||||||
| Nicholas K. Akins | |||||||||||
| Chief Executive Officer | |||||||||||
| Date: July 22, 2021 | By: | /s/ Nicholas K. Akins | |||||||||
| Nicholas K. Akins | |||||||||||
| Chief Executive Officer | |||||||||||
| Date: July 22, 2021 | By: | /s/ Julia A. Sloat | |||||||||
| Julia A. Sloat | |||||||||||
| Chief Financial Officer | |||||||||||
| Date: July 22, 2021 | By: | /s/ Julia A. Sloat | |||||||||
| Julia A. Sloat | |||||||||||
| Chief Financial Officer | |||||||||||
| Date: July 22, 2021 | By: | /s/ Julia A. Sloat | |||||||||
| Julia A. Sloat | |||||||||||
| Chief Financial Officer | |||||||||||
| Date: July 22, 2021 | By: | /s/ Julia A. Sloat | |||||||||
| Julia A. Sloat | |||||||||||
| Chief Financial Officer | |||||||||||
| Date: July 22, 2021 | By: | /s/ Julia A. Sloat | |||||||||
| Julia A. Sloat | |||||||||||
| Chief Financial Officer | |||||||||||
| Date: July 22, 2021 | By: | /s/ Julia A. Sloat | |||||||||
| Julia A. Sloat | |||||||||||
| Chief Financial Officer | |||||||||||
| Date: July 22, 2021 | By: | /s/ Julia A. Sloat | |||||||||
| Julia A. Sloat | |||||||||||
| Chief Financial Officer | |||||||||||
| Date: July 22, 2021 | By: | /s/ Julia A. Sloat | |||||||||
| Julia A. Sloat | |||||||||||
| Chief Financial Officer | |||||||||||
|
Number of Citations for S&S Violations of Mandatory Health or Safety Standards under 104 *
|
— | ||||
|
Number of Orders Issued under 104(b) *
|
— | ||||
| Number of Citations and Orders for Unwarrantable Failure to Comply with Mandatory Health or Safety Standards under 104(d) * | — | ||||
|
Number of Flagrant Violations under 110(b)(2) *
|
— | ||||
|
Number of Imminent Danger Orders Issued under 107(a) *
|
— | ||||
|
Total Dollar Value of Proposed Assessments **
|
$ | 125 | |||
|
Number of Mining-related Fatalities
|
— | ||||