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Unaudited Quarterly Financial Information
 12 Months Ended
Dec. 31, 2013
Unaudited Quarterly Financial Information

19. UNAUDITED QUARTERLY FINANCIAL INFORMATION

 

In our opinion, the unaudited quarterly information reflects all normal and recurring accruals and adjustments necessary for a fair presentation of our results of operations for interim periods. Quarterly results are not necessarily indicative of a full year's operations because of various factors. Our unaudited quarterly financial information is as follows:

    2013 Quarterly Periods Ended
    March 31 June 30 September 30 December 31 
    (in millions - except per share amounts) 
Total Revenues$ 3,826 $ 3,582 $ 4,176 $ 3,773 
Operating Income  755   547(a)  875(c)  678(d)(e)
Net Income  364   339(a)(b)  434(c)  347(d)(e)
             
Amounts Attributable to AEP Common Shareholders:            
  Net Income  363   338(a)(b)  433(c)  346(d)(e)
             
Basic Earnings per Share Attributable to AEP            
 Common Shareholders:            
  Earnings per Share (f)  0.75   0.69   0.89   0.71 
             
Diluted Earnings per Share Attributable to AEP            
 Common Shareholders:            
  Earnings per Share (f)  0.75   0.69   0.89   0.71 

    2012 Quarterly Periods Ended
    March 31 June 30 September 30 December 31 
    (in millions - except per share amounts) 
Total Revenues$ 3,625 $ 3,551 $ 4,156 $ 3,613 
Operating Income  754   741   912   249(g)(h)
Net Income  390   363   488   21(g)(h)
             
Amounts Attributable to AEP Common Shareholders:            
  Net Income  389   362   487   21(g)(h)
             
Basic Earnings per Share Attributable to AEP            
 Common Shareholders:            
  Earnings per Share (f)  0.80   0.75   1.00   0.05 
             
Diluted Earnings per Share Attributable to AEP            
 Common Shareholders:            
  Earnings per Share (f)  0.80   0.75   1.00   0.05 

(a)       Includes an impairment for Muskingum River Plant, Unit 5 (see Note 7).

(b)       Includes U.K. Windfall Tax benefit (see Note 12).

(c)       Includes regulatory disallowances for the Turk Plant (see Note 4) and for Big Sandy Plant, Unit 2 (see Note 7).

(d)       Includes a regulatory disallowance for Amos Plant, Unit 3 (see Note 7).

(e)       Includes the reversal of regulatory disallowance for the Turk Plant (see Note 4).

(f)       Quarterly Earnings per Share amounts are intended to be stand-alone calculations and are not always additive to full-year amount due to rounding.

(g)       Includes impairments for certain Ohio generation plants (see Note 7).

(h)       See Note 18 for discussion of cost reduction programs in 2012.
Appalachian Power Co [Member]
  
Unaudited Quarterly Financial Information

18. UNAUDITED QUARTERLY FINANCIAL INFORMATION

 

In management's opinion, the unaudited quarterly information reflects all normal and recurring accruals and adjustments necessary for a fair presentation of the results of operations for interim periods. Quarterly results are not necessarily indicative of a full year's operations because of various factors. The unaudited quarterly financial information for each Registrant Subsidiary is as follows:

Quarterly Periods Ended:APCo I&M OPCo PSO SWEPCo 
    (in thousands) 
March 31, 2013               
Total Revenues$ 951,494 $ 583,393 $ 1,233,790 $ 262,289 $ 394,317 
Operating Income  164,560   81,230   244,813   33,552   50,639 
Net Income  70,548   43,457   129,774   13,693   11,548 
                
June 30, 2013               
Total Revenues$ 746,504 $ 549,501 $ 1,102,994 $ 324,687 $ 420,173 
Operating Income  92,072   77,533   73,072(a)  58,471   77,032 
Net Income  29,862   40,754   21,056(a)  28,432   30,227 
                
September 30, 2013               
Total Revenues$ 849,733 $ 638,865 $ 1,279,176 $ 411,083 $ 552,933 
Operating Income  147,692   102,364   312,795   95,832   52,359(b)
Net Income  62,625   57,880   178,901   51,096   7,920(b)
                
December 31, 2013               
Total Revenues$ 869,675 $ 595,100 $ 1,146,655 $ 297,463 $ 428,380 
Operating Income  101,954(c)  60,734   162,418   23,380   163,813(d)
Net Income  30,176(c)  35,413   80,249   4,575   104,124(d)

Quarterly Periods Ended:APCo I&M OPCo PSO SWEPCo 
    (in thousands) 
March 31, 2012               
Total Revenues$ 805,476 $ 546,207 $ 1,237,223 $ 300,531 $ 348,986 
Operating Income  169,190   76,325   269,619   33,490   55,368 
Net Income  75,311   39,221   150,830   12,648   36,395 
                
June 30, 2012               
Total Revenues$ 716,461 $ 510,876 $ 1,113,750 $ 317,311 $ 390,946 
Operating Income  143,426   64,803   210,004   69,299   72,976 
Net Income  62,332   29,810   101,423   35,211   54,902 
                
September 30, 2012               
Total Revenues$ 864,198 $ 598,204 $ 1,359,816 $ 372,872 $ 485,169 
Operating Income  142,722   80,486   279,109   106,196   120,008 
Net Income  63,191   39,254   151,510   58,103   89,218 
                
December 31, 2012               
Total Revenues$ 890,796 $ 544,824 $ 1,217,407 $ 242,224 $ 352,733 
Operating Income (Loss)  142,122   26,080   (81,785)(e)  21,965   27,544 
Net Income (Loss)  56,669   10,172   (60,229)(e)  8,179   21,998 

(a) Includes an impairment for Muskingum River Plant, Unit 5 (see Note 6).

(b) Includes a regulatory disallowance for the Turk Plant (see Note 3).

(c) Includes a regulatory disallowance for Amos Plant, Unit 3 (see Note 6).

(d) Includes the reversal of regulatory disallowance for the Turk Plant (see Note 3).       

(e) Includes impairments for certain Ohio generation plants (see Note 6).
Indiana Michigan Power Co [Member]
  
Unaudited Quarterly Financial Information

18. UNAUDITED QUARTERLY FINANCIAL INFORMATION

 

In management's opinion, the unaudited quarterly information reflects all normal and recurring accruals and adjustments necessary for a fair presentation of the results of operations for interim periods. Quarterly results are not necessarily indicative of a full year's operations because of various factors. The unaudited quarterly financial information for each Registrant Subsidiary is as follows:

Quarterly Periods Ended:APCo I&M OPCo PSO SWEPCo 
    (in thousands) 
March 31, 2013               
Total Revenues$ 951,494 $ 583,393 $ 1,233,790 $ 262,289 $ 394,317 
Operating Income  164,560   81,230   244,813   33,552   50,639 
Net Income  70,548   43,457   129,774   13,693   11,548 
                
June 30, 2013               
Total Revenues$ 746,504 $ 549,501 $ 1,102,994 $ 324,687 $ 420,173 
Operating Income  92,072   77,533   73,072(a)  58,471   77,032 
Net Income  29,862   40,754   21,056(a)  28,432   30,227 
                
September 30, 2013               
Total Revenues$ 849,733 $ 638,865 $ 1,279,176 $ 411,083 $ 552,933 
Operating Income  147,692   102,364   312,795   95,832   52,359(b)
Net Income  62,625   57,880   178,901   51,096   7,920(b)
                
December 31, 2013               
Total Revenues$ 869,675 $ 595,100 $ 1,146,655 $ 297,463 $ 428,380 
Operating Income  101,954(c)  60,734   162,418   23,380   163,813(d)
Net Income  30,176(c)  35,413   80,249   4,575   104,124(d)

Quarterly Periods Ended:APCo I&M OPCo PSO SWEPCo 
    (in thousands) 
March 31, 2012               
Total Revenues$ 805,476 $ 546,207 $ 1,237,223 $ 300,531 $ 348,986 
Operating Income  169,190   76,325   269,619   33,490   55,368 
Net Income  75,311   39,221   150,830   12,648   36,395 
                
June 30, 2012               
Total Revenues$ 716,461 $ 510,876 $ 1,113,750 $ 317,311 $ 390,946 
Operating Income  143,426   64,803   210,004   69,299   72,976 
Net Income  62,332   29,810   101,423   35,211   54,902 
                
September 30, 2012               
Total Revenues$ 864,198 $ 598,204 $ 1,359,816 $ 372,872 $ 485,169 
Operating Income  142,722   80,486   279,109   106,196   120,008 
Net Income  63,191   39,254   151,510   58,103   89,218 
                
December 31, 2012               
Total Revenues$ 890,796 $ 544,824 $ 1,217,407 $ 242,224 $ 352,733 
Operating Income (Loss)  142,122   26,080   (81,785)(e)  21,965   27,544 
Net Income (Loss)  56,669   10,172   (60,229)(e)  8,179   21,998 

(a) Includes an impairment for Muskingum River Plant, Unit 5 (see Note 6).

(b) Includes a regulatory disallowance for the Turk Plant (see Note 3).

(c) Includes a regulatory disallowance for Amos Plant, Unit 3 (see Note 6).

(d) Includes the reversal of regulatory disallowance for the Turk Plant (see Note 3).       

(e) Includes impairments for certain Ohio generation plants (see Note 6).
Ohio Power Co [Member]
  
Unaudited Quarterly Financial Information

18. UNAUDITED QUARTERLY FINANCIAL INFORMATION

 

In management's opinion, the unaudited quarterly information reflects all normal and recurring accruals and adjustments necessary for a fair presentation of the results of operations for interim periods. Quarterly results are not necessarily indicative of a full year's operations because of various factors. The unaudited quarterly financial information for each Registrant Subsidiary is as follows:

Quarterly Periods Ended:APCo I&M OPCo PSO SWEPCo 
    (in thousands) 
March 31, 2013               
Total Revenues$ 951,494 $ 583,393 $ 1,233,790 $ 262,289 $ 394,317 
Operating Income  164,560   81,230   244,813   33,552   50,639 
Net Income  70,548   43,457   129,774   13,693   11,548 
                
June 30, 2013               
Total Revenues$ 746,504 $ 549,501 $ 1,102,994 $ 324,687 $ 420,173 
Operating Income  92,072   77,533   73,072(a)  58,471   77,032 
Net Income  29,862   40,754   21,056(a)  28,432   30,227 
                
September 30, 2013               
Total Revenues$ 849,733 $ 638,865 $ 1,279,176 $ 411,083 $ 552,933 
Operating Income  147,692   102,364   312,795   95,832   52,359(b)
Net Income  62,625   57,880   178,901   51,096   7,920(b)
                
December 31, 2013               
Total Revenues$ 869,675 $ 595,100 $ 1,146,655 $ 297,463 $ 428,380 
Operating Income  101,954(c)  60,734   162,418   23,380   163,813(d)
Net Income  30,176(c)  35,413   80,249   4,575   104,124(d)

Quarterly Periods Ended:APCo I&M OPCo PSO SWEPCo 
    (in thousands) 
March 31, 2012               
Total Revenues$ 805,476 $ 546,207 $ 1,237,223 $ 300,531 $ 348,986 
Operating Income  169,190   76,325   269,619   33,490   55,368 
Net Income  75,311   39,221   150,830   12,648   36,395 
                
June 30, 2012               
Total Revenues$ 716,461 $ 510,876 $ 1,113,750 $ 317,311 $ 390,946 
Operating Income  143,426   64,803   210,004   69,299   72,976 
Net Income  62,332   29,810   101,423   35,211   54,902 
                
September 30, 2012               
Total Revenues$ 864,198 $ 598,204 $ 1,359,816 $ 372,872 $ 485,169 
Operating Income  142,722   80,486   279,109   106,196   120,008 
Net Income  63,191   39,254   151,510   58,103   89,218 
                
December 31, 2012               
Total Revenues$ 890,796 $ 544,824 $ 1,217,407 $ 242,224 $ 352,733 
Operating Income (Loss)  142,122   26,080   (81,785)(e)  21,965   27,544 
Net Income (Loss)  56,669   10,172   (60,229)(e)  8,179   21,998 

(a) Includes an impairment for Muskingum River Plant, Unit 5 (see Note 6).

(b) Includes a regulatory disallowance for the Turk Plant (see Note 3).

(c) Includes a regulatory disallowance for Amos Plant, Unit 3 (see Note 6).

(d) Includes the reversal of regulatory disallowance for the Turk Plant (see Note 3).       

(e) Includes impairments for certain Ohio generation plants (see Note 6).
Public Service Co of Oklahoma [Member]
  
Unaudited Quarterly Financial Information

18. UNAUDITED QUARTERLY FINANCIAL INFORMATION

 

In management's opinion, the unaudited quarterly information reflects all normal and recurring accruals and adjustments necessary for a fair presentation of the results of operations for interim periods. Quarterly results are not necessarily indicative of a full year's operations because of various factors. The unaudited quarterly financial information for each Registrant Subsidiary is as follows:

Quarterly Periods Ended:APCo I&M OPCo PSO SWEPCo 
    (in thousands) 
March 31, 2013               
Total Revenues$ 951,494 $ 583,393 $ 1,233,790 $ 262,289 $ 394,317 
Operating Income  164,560   81,230   244,813   33,552   50,639 
Net Income  70,548   43,457   129,774   13,693   11,548 
                
June 30, 2013               
Total Revenues$ 746,504 $ 549,501 $ 1,102,994 $ 324,687 $ 420,173 
Operating Income  92,072   77,533   73,072(a)  58,471   77,032 
Net Income  29,862   40,754   21,056(a)  28,432   30,227 
                
September 30, 2013               
Total Revenues$ 849,733 $ 638,865 $ 1,279,176 $ 411,083 $ 552,933 
Operating Income  147,692   102,364   312,795   95,832   52,359(b)
Net Income  62,625   57,880   178,901   51,096   7,920(b)
                
December 31, 2013               
Total Revenues$ 869,675 $ 595,100 $ 1,146,655 $ 297,463 $ 428,380 
Operating Income  101,954(c)  60,734   162,418   23,380   163,813(d)
Net Income  30,176(c)  35,413   80,249   4,575   104,124(d)

Quarterly Periods Ended:APCo I&M OPCo PSO SWEPCo 
    (in thousands) 
March 31, 2012               
Total Revenues$ 805,476 $ 546,207 $ 1,237,223 $ 300,531 $ 348,986 
Operating Income  169,190   76,325   269,619   33,490   55,368 
Net Income  75,311   39,221   150,830   12,648   36,395 
                
June 30, 2012               
Total Revenues$ 716,461 $ 510,876 $ 1,113,750 $ 317,311 $ 390,946 
Operating Income  143,426   64,803   210,004   69,299   72,976 
Net Income  62,332   29,810   101,423   35,211   54,902 
                
September 30, 2012               
Total Revenues$ 864,198 $ 598,204 $ 1,359,816 $ 372,872 $ 485,169 
Operating Income  142,722   80,486   279,109   106,196   120,008 
Net Income  63,191   39,254   151,510   58,103   89,218 
                
December 31, 2012               
Total Revenues$ 890,796 $ 544,824 $ 1,217,407 $ 242,224 $ 352,733 
Operating Income (Loss)  142,122   26,080   (81,785)(e)  21,965   27,544 
Net Income (Loss)  56,669   10,172   (60,229)(e)  8,179   21,998 

(a) Includes an impairment for Muskingum River Plant, Unit 5 (see Note 6).

(b) Includes a regulatory disallowance for the Turk Plant (see Note 3).

(c) Includes a regulatory disallowance for Amos Plant, Unit 3 (see Note 6).

(d) Includes the reversal of regulatory disallowance for the Turk Plant (see Note 3).       

(e) Includes impairments for certain Ohio generation plants (see Note 6).
Southwestern Electric Power Co [Member]
  
Unaudited Quarterly Financial Information

18. UNAUDITED QUARTERLY FINANCIAL INFORMATION

 

In management's opinion, the unaudited quarterly information reflects all normal and recurring accruals and adjustments necessary for a fair presentation of the results of operations for interim periods. Quarterly results are not necessarily indicative of a full year's operations because of various factors. The unaudited quarterly financial information for each Registrant Subsidiary is as follows:

Quarterly Periods Ended:APCo I&M OPCo PSO SWEPCo 
    (in thousands) 
March 31, 2013               
Total Revenues$ 951,494 $ 583,393 $ 1,233,790 $ 262,289 $ 394,317 
Operating Income  164,560   81,230   244,813   33,552   50,639 
Net Income  70,548   43,457   129,774   13,693   11,548 
                
June 30, 2013               
Total Revenues$ 746,504 $ 549,501 $ 1,102,994 $ 324,687 $ 420,173 
Operating Income  92,072   77,533   73,072(a)  58,471   77,032 
Net Income  29,862   40,754   21,056(a)  28,432   30,227 
                
September 30, 2013               
Total Revenues$ 849,733 $ 638,865 $ 1,279,176 $ 411,083 $ 552,933 
Operating Income  147,692   102,364   312,795   95,832   52,359(b)
Net Income  62,625   57,880   178,901   51,096   7,920(b)
                
December 31, 2013               
Total Revenues$ 869,675 $ 595,100 $ 1,146,655 $ 297,463 $ 428,380 
Operating Income  101,954(c)  60,734   162,418   23,380   163,813(d)
Net Income  30,176(c)  35,413   80,249   4,575   104,124(d)

Quarterly Periods Ended:APCo I&M OPCo PSO SWEPCo 
    (in thousands) 
March 31, 2012               
Total Revenues$ 805,476 $ 546,207 $ 1,237,223 $ 300,531 $ 348,986 
Operating Income  169,190   76,325   269,619   33,490   55,368 
Net Income  75,311   39,221   150,830   12,648   36,395 
                
June 30, 2012               
Total Revenues$ 716,461 $ 510,876 $ 1,113,750 $ 317,311 $ 390,946 
Operating Income  143,426   64,803   210,004   69,299   72,976 
Net Income  62,332   29,810   101,423   35,211   54,902 
                
September 30, 2012               
Total Revenues$ 864,198 $ 598,204 $ 1,359,816 $ 372,872 $ 485,169 
Operating Income  142,722   80,486   279,109   106,196   120,008 
Net Income  63,191   39,254   151,510   58,103   89,218 
                
December 31, 2012               
Total Revenues$ 890,796 $ 544,824 $ 1,217,407 $ 242,224 $ 352,733 
Operating Income (Loss)  142,122   26,080   (81,785)(e)  21,965   27,544 
Net Income (Loss)  56,669   10,172   (60,229)(e)  8,179   21,998 

(a) Includes an impairment for Muskingum River Plant, Unit 5 (see Note 6).

(b) Includes a regulatory disallowance for the Turk Plant (see Note 3).

(c) Includes a regulatory disallowance for Amos Plant, Unit 3 (see Note 6).

(d) Includes the reversal of regulatory disallowance for the Turk Plant (see Note 3).       

(e) Includes impairments for certain Ohio generation plants (see Note 6).