XML 63 R35.htm IDEA: XBRL DOCUMENT v2.4.0.6
Financing Activities (Tables)
 3 Months Ended
Mar. 31, 2013
Long-term Debt
 Type of Debt March 31, 2013 December 31, 2012
   (in millions)
 Senior Unsecured Notes $ 12,462 $ 12,712
 Pollution Control Bonds   1,958   1,958
 Notes Payable   398   427
 Securitization Bonds   2,176   2,281
 Spent Nuclear Fuel Obligation (a)   265   265
 Other Long-term Debt    341   140
 Fair Value of Interest Rate Hedges   1   3
 Unamortized Discount, Net   (28)   (29)
 Total Long-term Debt Outstanding   17,573   17,757
 Long-term Debt Due Within One Year   1,674   2,171
 Long-term Debt  $ 15,899 $ 15,586

(a)       Pursuant to the Nuclear Waste Policy Act of 1982, I&M, a nuclear licensee, has an obligation to the United States Department of Energy for spent nuclear fuel disposal. The obligation includes a one-time fee for nuclear fuel consumed prior to April 7, 1983. Trust fund assets related to this obligation were $309 million and $308 million as of March 31, 2013 and December 31, 2012, respectively, and are included in Spent Nuclear Fuel and Decommissioning Trusts on our condensed balance sheets.

 
Long-term Debt Issuances
      Principal   Interest  
 Company Type of Debt Amount  Rate Due Date
 Issuances:  (in millions) (%)  
 AEP Other Long-term Debt $ 200(a) Variable 2015
 I&M Senior Unsecured Notes   250  3.20 2023
             
 Non-Registrant:          
 AEPTCo Senior Unsecured Notes   25  4.83 2043
 TNC Senior Unsecured Notes   125  3.09 2023
 TNC Senior Unsecured Notes   75  4.48 2043
 Total Issuances   $ 675(b)    

(a)       Draw on a $1 billion term credit facility due in May 2015 to fund certain OPCo maturities on an interim basis and to facilitate the corporate separation of generation assets from transmission and distribution.

(b)       Amount indicated on the statement of cash flows is net of issuance costs and premium or discount and will not tie to the total issuances.
Retirements and Principal Payments
      Principal   Interest  
 Company Type of Debt Amount Paid  Rate Due Date
 Retirements and   (in millions) (%)  
  Principal Payments:          
 I&M Notes Payable $ 4  Variable 2015
 I&M Notes Payable   6  Variable 2016
 I&M Notes Payable   4  2.12 2016
 I&M Notes Payable   11  Variable 2016
 OPCo Senior Unsecured Notes   250  5.50 2013
 OPCo Senior Unsecured Notes   250  5.50 2013
 SWEPCo Notes Payable   1  4.58 2032
             
 Non-Registrant:          
 AEP Subsidiaries Notes Payable   1  Variable 2017
 AEP Subsidiaries Notes Payable   1  7.59 - 8.03 2026
 TCC Securitization Bonds   67  4.98 2013
 TCC Securitization Bonds   38  5.96 2013
 TNC Senior Unsecured Notes   225  5.50 2013
 Total Retirements and          
  Principal Payments   $ 858     
Short Term Debt
Short-term Debt            
               
Our outstanding short-term debt was as follows:           
               
    March 31, 2013 December 31, 2012
    Outstanding Interest Outstanding Interest
 Type of DebtAmountRate (a) AmountRate (a)
   (in millions)    (in millions)   
 Securitized Debt for Receivables (b) $ 646  0.23% $ 657  0.26%
 Commercial Paper   661  0.36%   321  0.42%
 Line of Credit – Sabine (c)   -  -%   3  1.82%
 Total Short-term Debt $ 1,307    $ 981   

(a)       Weighted average rate.

(b)       Amount of securitized debt for receivables as accounted for under the ''Transfers and Servicing'' accounting guidance.

(c)       This line of credit does not reduce available liquidity under AEP's credit facilities.
Comparative Accounts Receivable Information
    Three Months Ended  
    March 31, 
    2013 2012 
   (dollars in millions) 
 Effective Interest Rates on Securitization of Accounts Receivable   0.23%  0.26%
 Net Uncollectible Accounts Receivable Written Off $ 7 $ 8 
Customer Accounts Receivable Managed Portfolio
    March 31, December 31,
    2013 2012
    (in millions)
 Accounts Receivable Retained Interest and Pledged as Collateral      
  Less Uncollectible Accounts $ 863 $ 835
 Total Principal Outstanding   646   657
 Delinquent Securitized Accounts Receivable   38   37
 Bad Debt Reserves Related to Securitization/Sale of Accounts Receivable   21   21
 Unbilled Receivables Related to Securitization/Sale of Accounts Receivable   256   316
Appalachian Power Co [Member]
  
Retirements and Principal Payments
      Principal  Interest  
 Company Type of Debt Amount Paid Rate Due Date
 Retirements and   (in thousands) (%)  
  Principal Payments:         
 APCo Land Note $ 7 13.718 2026
 I&M Notes Payable   4,040 Variable 2015
 I&M Notes Payable   5,953 Variable 2016
 I&M Notes Payable   4,123 2.12 2016
 I&M Notes Payable   10,542 Variable 2016
 I&M Other Long-term Debt   206 6.00 2025
 OPCo Senior Unsecured Notes   250,000 5.50 2013
 OPCo Senior Unsecured Notes   250,000 5.50 2013
 PSO Notes Payable   99 3.00 2027
 SWEPCo Notes Payable   1,625 4.58 2032
Utility Money Pool Participants' Money Pool Activity and Authorized Borrowing Limits
               Net   
               Loans    
   Maximum Maximum Average Average (Borrowings) Authorized
   Borrowings Loans  Borrowings Loans  to/from Utility Short-term
   from Utility to Utility from Utility to Utility Money Pool as of Borrowing
 Company Money Pool Money Pool Money Pool Money Pool March 31, 2013 Limit
   (in thousands)
 APCo $ 217,174 $ 23,509 $ 114,102 $ 23,313 $ (73,448) $ 600,000
 I&M   23,135   337,330   8,308   99,150   321,985   500,000
 OPCo   410,456   169,284   207,014   53,482   (161,869)   600,000
 PSO   24,004   25,343   11,929   11,527   (24,004)   300,000
 SWEPCo   -   153,830   -   78,892   26,885   350,000
Maximum and Minimum Interest Rates for Funds Either Borrowed from or Loaned to Utility Money Pool
   Three Months Ended March 31,
   2013 2012
 Maximum Interest Rate  0.43%  0.56%
 Minimum Interest Rate  0.35%  0.45%
Average Interest Rates for Funds Borrowed from and Loaned to Utility Money Pool
   Average Interest Rate  Average Interest Rate
   for Funds Borrowed   for Funds Loaned
   from Utility Money Pool for   to Utility Money Pool for
   Three Months Ended March 31, Three Months Ended March 31,
 Company 2013 20122013 2012
 APCo  0.38%  0.51%  0.37%  0.51%
 I&M  0.36%  -%  0.37%  0.51%
 OPCo  0.36%  0.47%  0.37%  0.52%
 PSO  0.36%  -%  0.38%  0.51%
 SWEPCo  -%  0.53%  0.38%  0.51%
Accounts Receivable and Accrued Unbilled Revenues
    March 31, December 31,
 Company 2013 2012
    (in thousands)
 APCo $ 163,474 $ 153,719
 I&M   134,377   123,447
 OPCo   319,682   300,675
 PSO   84,456   85,530
 SWEPCo   121,202   132,449
Fees Paid to AEP Credit for Customer Accounts Receivable Sold
    Three Months Ended March 31,
 Company 2013 2012
    (in thousands)
 APCo $ 1,556 $ 2,130
 I&M   1,452   1,543
 OPCo   4,669   5,916
 PSO   1,414   1,732
 SWEPCo   1,380   1,386
Proceeds on Sale of Receivables to AEP Credit
    Three Months Ended March 31,
 Company 2013 2012
    (in thousands)
 APCo $ 398,193 $ 346,526
 I&M   351,830   339,581
 OPCo   696,958   837,897
 PSO   240,275   272,795
 SWEPCo   331,936   321,608
Indiana Michigan Power Co [Member]
  
Long-term Debt Issuances
     Principal  Interest  
 Company Type of Debt Amount (a) Rate Due Date
 Issuances:   (in thousands) (%)  
 I&M Senior Unsecured Notes $ 250,000 3.20 2023
 OPCo Long-term Debt - Affiliated   200,000(b)Variable 2015

(a)       Amounts indicated on the statements of cash flows are net of issuance costs and premium or discount and will not tie to the issuance amounts.

(b)       Intercompany issuance from AEP consisting of a draw on a $1 billion term credit facility due in May 2015 to fund certain OPCo maturities on an interim basis and to facilitate the corporate separation of generation assets from transmission and distribution.
Retirements and Principal Payments
      Principal  Interest  
 Company Type of Debt Amount Paid Rate Due Date
 Retirements and   (in thousands) (%)  
  Principal Payments:         
 APCo Land Note $ 7 13.718 2026
 I&M Notes Payable   4,040 Variable 2015
 I&M Notes Payable   5,953 Variable 2016
 I&M Notes Payable   4,123 2.12 2016
 I&M Notes Payable   10,542 Variable 2016
 I&M Other Long-term Debt   206 6.00 2025
 OPCo Senior Unsecured Notes   250,000 5.50 2013
 OPCo Senior Unsecured Notes   250,000 5.50 2013
 PSO Notes Payable   99 3.00 2027
 SWEPCo Notes Payable   1,625 4.58 2032
Utility Money Pool Participants' Money Pool Activity and Authorized Borrowing Limits
               Net   
               Loans    
   Maximum Maximum Average Average (Borrowings) Authorized
   Borrowings Loans  Borrowings Loans  to/from Utility Short-term
   from Utility to Utility from Utility to Utility Money Pool as of Borrowing
 Company Money Pool Money Pool Money Pool Money Pool March 31, 2013 Limit
   (in thousands)
 APCo $ 217,174 $ 23,509 $ 114,102 $ 23,313 $ (73,448) $ 600,000
 I&M   23,135   337,330   8,308   99,150   321,985   500,000
 OPCo   410,456   169,284   207,014   53,482   (161,869)   600,000
 PSO   24,004   25,343   11,929   11,527   (24,004)   300,000
 SWEPCo   -   153,830   -   78,892   26,885   350,000
Maximum and Minimum Interest Rates for Funds Either Borrowed from or Loaned to Utility Money Pool
   Three Months Ended March 31,
   2013 2012
 Maximum Interest Rate  0.43%  0.56%
 Minimum Interest Rate  0.35%  0.45%
Average Interest Rates for Funds Borrowed from and Loaned to Utility Money Pool
   Average Interest Rate  Average Interest Rate
   for Funds Borrowed   for Funds Loaned
   from Utility Money Pool for   to Utility Money Pool for
   Three Months Ended March 31, Three Months Ended March 31,
 Company 2013 20122013 2012
 APCo  0.38%  0.51%  0.37%  0.51%
 I&M  0.36%  -%  0.37%  0.51%
 OPCo  0.36%  0.47%  0.37%  0.52%
 PSO  0.36%  -%  0.38%  0.51%
 SWEPCo  -%  0.53%  0.38%  0.51%
Accounts Receivable and Accrued Unbilled Revenues
    March 31, December 31,
 Company 2013 2012
    (in thousands)
 APCo $ 163,474 $ 153,719
 I&M   134,377   123,447
 OPCo   319,682   300,675
 PSO   84,456   85,530
 SWEPCo   121,202   132,449
Fees Paid to AEP Credit for Customer Accounts Receivable Sold
    Three Months Ended March 31,
 Company 2013 2012
    (in thousands)
 APCo $ 1,556 $ 2,130
 I&M   1,452   1,543
 OPCo   4,669   5,916
 PSO   1,414   1,732
 SWEPCo   1,380   1,386
Proceeds on Sale of Receivables to AEP Credit
    Three Months Ended March 31,
 Company 2013 2012
    (in thousands)
 APCo $ 398,193 $ 346,526
 I&M   351,830   339,581
 OPCo   696,958   837,897
 PSO   240,275   272,795
 SWEPCo   331,936   321,608
Ohio Power Co [Member]
  
Long-term Debt Issuances
     Principal  Interest  
 Company Type of Debt Amount (a) Rate Due Date
 Issuances:   (in thousands) (%)  
 I&M Senior Unsecured Notes $ 250,000 3.20 2023
 OPCo Long-term Debt - Affiliated   200,000(b)Variable 2015

(a)       Amounts indicated on the statements of cash flows are net of issuance costs and premium or discount and will not tie to the issuance amounts.

(b)       Intercompany issuance from AEP consisting of a draw on a $1 billion term credit facility due in May 2015 to fund certain OPCo maturities on an interim basis and to facilitate the corporate separation of generation assets from transmission and distribution.
Retirements and Principal Payments
      Principal  Interest  
 Company Type of Debt Amount Paid Rate Due Date
 Retirements and   (in thousands) (%)  
  Principal Payments:         
 APCo Land Note $ 7 13.718 2026
 I&M Notes Payable   4,040 Variable 2015
 I&M Notes Payable   5,953 Variable 2016
 I&M Notes Payable   4,123 2.12 2016
 I&M Notes Payable   10,542 Variable 2016
 I&M Other Long-term Debt   206 6.00 2025
 OPCo Senior Unsecured Notes   250,000 5.50 2013
 OPCo Senior Unsecured Notes   250,000 5.50 2013
 PSO Notes Payable   99 3.00 2027
 SWEPCo Notes Payable   1,625 4.58 2032
Utility Money Pool Participants' Money Pool Activity and Authorized Borrowing Limits
               Net   
               Loans    
   Maximum Maximum Average Average (Borrowings) Authorized
   Borrowings Loans  Borrowings Loans  to/from Utility Short-term
   from Utility to Utility from Utility to Utility Money Pool as of Borrowing
 Company Money Pool Money Pool Money Pool Money Pool March 31, 2013 Limit
   (in thousands)
 APCo $ 217,174 $ 23,509 $ 114,102 $ 23,313 $ (73,448) $ 600,000
 I&M   23,135   337,330   8,308   99,150   321,985   500,000
 OPCo   410,456   169,284   207,014   53,482   (161,869)   600,000
 PSO   24,004   25,343   11,929   11,527   (24,004)   300,000
 SWEPCo   -   153,830   -   78,892   26,885   350,000
Maximum and Minimum Interest Rates for Funds Either Borrowed from or Loaned to Utility Money Pool
   Three Months Ended March 31,
   2013 2012
 Maximum Interest Rate  0.43%  0.56%
 Minimum Interest Rate  0.35%  0.45%
Average Interest Rates for Funds Borrowed from and Loaned to Utility Money Pool
   Average Interest Rate  Average Interest Rate
   for Funds Borrowed   for Funds Loaned
   from Utility Money Pool for   to Utility Money Pool for
   Three Months Ended March 31, Three Months Ended March 31,
 Company 2013 20122013 2012
 APCo  0.38%  0.51%  0.37%  0.51%
 I&M  0.36%  -%  0.37%  0.51%
 OPCo  0.36%  0.47%  0.37%  0.52%
 PSO  0.36%  -%  0.38%  0.51%
 SWEPCo  -%  0.53%  0.38%  0.51%
Accounts Receivable and Accrued Unbilled Revenues
    March 31, December 31,
 Company 2013 2012
    (in thousands)
 APCo $ 163,474 $ 153,719
 I&M   134,377   123,447
 OPCo   319,682   300,675
 PSO   84,456   85,530
 SWEPCo   121,202   132,449
Fees Paid to AEP Credit for Customer Accounts Receivable Sold
    Three Months Ended March 31,
 Company 2013 2012
    (in thousands)
 APCo $ 1,556 $ 2,130
 I&M   1,452   1,543
 OPCo   4,669   5,916
 PSO   1,414   1,732
 SWEPCo   1,380   1,386
Proceeds on Sale of Receivables to AEP Credit
    Three Months Ended March 31,
 Company 2013 2012
    (in thousands)
 APCo $ 398,193 $ 346,526
 I&M   351,830   339,581
 OPCo   696,958   837,897
 PSO   240,275   272,795
 SWEPCo   331,936   321,608
Public Service Co Of Oklahoma [Member]
  
Retirements and Principal Payments
      Principal  Interest  
 Company Type of Debt Amount Paid Rate Due Date
 Retirements and   (in thousands) (%)  
  Principal Payments:         
 APCo Land Note $ 7 13.718 2026
 I&M Notes Payable   4,040 Variable 2015
 I&M Notes Payable   5,953 Variable 2016
 I&M Notes Payable   4,123 2.12 2016
 I&M Notes Payable   10,542 Variable 2016
 I&M Other Long-term Debt   206 6.00 2025
 OPCo Senior Unsecured Notes   250,000 5.50 2013
 OPCo Senior Unsecured Notes   250,000 5.50 2013
 PSO Notes Payable   99 3.00 2027
 SWEPCo Notes Payable   1,625 4.58 2032
Utility Money Pool Participants' Money Pool Activity and Authorized Borrowing Limits
               Net   
               Loans    
   Maximum Maximum Average Average (Borrowings) Authorized
   Borrowings Loans  Borrowings Loans  to/from Utility Short-term
   from Utility to Utility from Utility to Utility Money Pool as of Borrowing
 Company Money Pool Money Pool Money Pool Money Pool March 31, 2013 Limit
   (in thousands)
 APCo $ 217,174 $ 23,509 $ 114,102 $ 23,313 $ (73,448) $ 600,000
 I&M   23,135   337,330   8,308   99,150   321,985   500,000
 OPCo   410,456   169,284   207,014   53,482   (161,869)   600,000
 PSO   24,004   25,343   11,929   11,527   (24,004)   300,000
 SWEPCo   -   153,830   -   78,892   26,885   350,000
Maximum and Minimum Interest Rates for Funds Either Borrowed from or Loaned to Utility Money Pool
   Three Months Ended March 31,
   2013 2012
 Maximum Interest Rate  0.43%  0.56%
 Minimum Interest Rate  0.35%  0.45%
Average Interest Rates for Funds Borrowed from and Loaned to Utility Money Pool
   Average Interest Rate  Average Interest Rate
   for Funds Borrowed   for Funds Loaned
   from Utility Money Pool for   to Utility Money Pool for
   Three Months Ended March 31, Three Months Ended March 31,
 Company 2013 20122013 2012
 APCo  0.38%  0.51%  0.37%  0.51%
 I&M  0.36%  -%  0.37%  0.51%
 OPCo  0.36%  0.47%  0.37%  0.52%
 PSO  0.36%  -%  0.38%  0.51%
 SWEPCo  -%  0.53%  0.38%  0.51%
Accounts Receivable and Accrued Unbilled Revenues
    March 31, December 31,
 Company 2013 2012
    (in thousands)
 APCo $ 163,474 $ 153,719
 I&M   134,377   123,447
 OPCo   319,682   300,675
 PSO   84,456   85,530
 SWEPCo   121,202   132,449
Fees Paid to AEP Credit for Customer Accounts Receivable Sold
    Three Months Ended March 31,
 Company 2013 2012
    (in thousands)
 APCo $ 1,556 $ 2,130
 I&M   1,452   1,543
 OPCo   4,669   5,916
 PSO   1,414   1,732
 SWEPCo   1,380   1,386
Proceeds on Sale of Receivables to AEP Credit
    Three Months Ended March 31,
 Company 2013 2012
    (in thousands)
 APCo $ 398,193 $ 346,526
 I&M   351,830   339,581
 OPCo   696,958   837,897
 PSO   240,275   272,795
 SWEPCo   331,936   321,608
Southwestern Electric Power Co [Member]
  
Retirements and Principal Payments
      Principal  Interest  
 Company Type of Debt Amount Paid Rate Due Date
 Retirements and   (in thousands) (%)  
  Principal Payments:         
 APCo Land Note $ 7 13.718 2026
 I&M Notes Payable   4,040 Variable 2015
 I&M Notes Payable   5,953 Variable 2016
 I&M Notes Payable   4,123 2.12 2016
 I&M Notes Payable   10,542 Variable 2016
 I&M Other Long-term Debt   206 6.00 2025
 OPCo Senior Unsecured Notes   250,000 5.50 2013
 OPCo Senior Unsecured Notes   250,000 5.50 2013
 PSO Notes Payable   99 3.00 2027
 SWEPCo Notes Payable   1,625 4.58 2032
Utility Money Pool Participants' Money Pool Activity and Authorized Borrowing Limits
               Net   
               Loans    
   Maximum Maximum Average Average (Borrowings) Authorized
   Borrowings Loans  Borrowings Loans  to/from Utility Short-term
   from Utility to Utility from Utility to Utility Money Pool as of Borrowing
 Company Money Pool Money Pool Money Pool Money Pool March 31, 2013 Limit
   (in thousands)
 APCo $ 217,174 $ 23,509 $ 114,102 $ 23,313 $ (73,448) $ 600,000
 I&M   23,135   337,330   8,308   99,150   321,985   500,000
 OPCo   410,456   169,284   207,014   53,482   (161,869)   600,000
 PSO   24,004   25,343   11,929   11,527   (24,004)   300,000
 SWEPCo   -   153,830   -   78,892   26,885   350,000
Maximum and Minimum Interest Rates for Funds Either Borrowed from or Loaned to Utility Money Pool
   Three Months Ended March 31,
   2013 2012
 Maximum Interest Rate  0.43%  0.56%
 Minimum Interest Rate  0.35%  0.45%
Average Interest Rates for Funds Borrowed from and Loaned to Utility Money Pool
   Average Interest Rate  Average Interest Rate
   for Funds Borrowed   for Funds Loaned
   from Utility Money Pool for   to Utility Money Pool for
   Three Months Ended March 31, Three Months Ended March 31,
 Company 2013 20122013 2012
 APCo  0.38%  0.51%  0.37%  0.51%
 I&M  0.36%  -%  0.37%  0.51%
 OPCo  0.36%  0.47%  0.37%  0.52%
 PSO  0.36%  -%  0.38%  0.51%
 SWEPCo  -%  0.53%  0.38%  0.51%
Short Term Debt
Short-term Debt            
                 
The Registrant Subsidiaries’ outstanding short-term debt was as follows:
                 
      March 31, 2013 December 31, 2012
      Outstanding Interest Outstanding Interest
 Company Type of DebtAmountRate (a) AmountRate (a)
      (in thousands)    (in thousands)   
 SWEPCo Line of Credit – Sabine $ -  -% $ 2,603  1.82%

(a) Weighted average rate.

 
Accounts Receivable and Accrued Unbilled Revenues
    March 31, December 31,
 Company 2013 2012
    (in thousands)
 APCo $ 163,474 $ 153,719
 I&M   134,377   123,447
 OPCo   319,682   300,675
 PSO   84,456   85,530
 SWEPCo   121,202   132,449
Fees Paid to AEP Credit for Customer Accounts Receivable Sold
    Three Months Ended March 31,
 Company 2013 2012
    (in thousands)
 APCo $ 1,556 $ 2,130
 I&M   1,452   1,543
 OPCo   4,669   5,916
 PSO   1,414   1,732
 SWEPCo   1,380   1,386
Proceeds on Sale of Receivables to AEP Credit
    Three Months Ended March 31,
 Company 2013 2012
    (in thousands)
 APCo $ 398,193 $ 346,526
 I&M   351,830   339,581
 OPCo   696,958   837,897
 PSO   240,275   272,795
 SWEPCo   331,936   321,608