Financing Activities (Tables)



Type of Debt	March 31, 2015			December 31, 2014
	(in millions)
Senior Unsecured Notes	$	13,344		$	12,647
Pollution Control Bonds	1,963			1,963
Notes Payable	331			357
Securitization Bonds	2,227			2,380
Spent Nuclear Fuel Obligation (a)	266			266
Other Long-term Debt	1,127			1,101
Fair Value of Interest Rate Hedges	(2		)	(6		)
Unamortized Discount, Net	(27		)	(24		)
Total Long-term Debt Outstanding	19,229			18,684
Long-term Debt Due Within One Year	2,451			2,503
Long-term Debt	$	16,778		$	16,181

(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 $309 million as of March 31, 2015 and December 31, 2014, respectively, and are included in Spent Nuclear Fuel and Decommissioning Trusts on our condensed balance sheets.



Company	Type of Debt	Principal Amount			Interest Rate	Due Date
Issuances:		(in millions)			(%)
PSO	Senior Unsecured Notes	$	125		3.17	2025
PSO	Senior Unsecured Notes	125			4.09	2045
SWEPCo	Pollution Control Bonds	54			1.60	2019
SWEPCo	Senior Unsecured Notes	400			3.90	2045

Non-Registrant:
AEPTCo	Senior Unsecured Notes	50			3.66	2025
KPCo	Other Long-term Debt	25			Variable	2018
Transource Missouri	Other Long-term Debt	5			Variable	2018
Total Issuances		$	784	(a)


(a)	Amount indicated on the statement of cash flows is net of issuance costs and premium or discount and will not tie to the issuance amount.



Company	Type of Debt	Principal Amount Paid		Interest Rate	Due Date
Total Retirements and Principal Payments:		(in millions)		(%)
APCo	Securitization Bonds	$	11	2.008	2024
I&M	Other Long-term Debt	3		Variable	2015
I&M	Notes Payable	9		Variable	2016
I&M	Notes Payable	7		Variable	2017
I&M	Notes Payable	6		Variable	2019
OPCo	Securitization Bonds	22		0.958	2018
SWEPCo	Notes Payable	2		4.58	2032
SWEPCo	Pollution Control Bonds	54		3.25	2015

Non-Registrant:
AEGCo	Senior Unsecured Notes	4		6.33	2037
AEP Subsidiaries	Notes Payable	1		Variable	2017
TCC	Securitization Bonds	78		5.09	2015
TCC	Securitization Bonds	42		6.25	2016
Total Retirements and Principal Payments		$	239



	March 31, 2015				December 31, 2014
Type of Debt	Outstanding Amount		Interest Rate (a)		Outstanding Amount		Interest Rate (a)
	(in millions)				(in millions)
Securitized Debt for Receivables (b)	$	740	0.26	%	$	744	0.22	%
Commercial Paper	115		0.51	%	602		0.59	%
Total Short-term Debt	$	855			$	1,346


(a)	Weighted average rate.


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



	Three Months Ended March 31,
	2015			2014
	(dollars in millions)

Effective Interest Rates on Securitization of Accounts Receivable	0.26		%	0.24		%
Net Uncollectible Accounts Receivable Written Off	$	7		$	8



	March 31,		December 31,
	2015		2014
	(in millions)
Accounts Receivable Retained Interest and Pledged as Collateral Less Uncollectible Accounts	$	988	$	975
Total Principal Outstanding	740		744
Delinquent Securitized Accounts Receivable	52		44
Bad Debt Reserves Related to Securitization/Sale of Accounts Receivable	17		13
Unbilled Receivables Related to Securitization/Sale of Accounts Receivable	265		335



Company	Type of Debt	Principal Amount (a)		Interest Rate	Due Date
Issuances:		(in thousands)		(%)
PSO	Senior Unsecured Notes	$	125,000	3.17	2025
PSO	Senior Unsecured Notes	125,000		4.09	2045
SWEPCo	Pollution Control Bonds	53,500		1.60	2019
SWEPCo	Senior Unsecured Notes	400,000		3.90	2045


(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.



Company	Type of Debt	Principal Amount Paid		Interest Rate	Due Date
Retirements and Principal Payments:		(in thousands)		(%)
APCo	Land Note	$	9	13.718	2026
APCo	Securitization Bonds	11,037		2.008	2024
I&M	Notes Payable	8,643		Variable	2016
I&M	Notes Payable	6,943		Variable	2017
I&M	Notes Payable	6,600		Variable	2019
I&M	Notes Payable	429		Variable	2016
I&M	Notes Payable	297		2.12	2016
I&M	Other Long-term Debt	2,750		Variable	2015
I&M	Other Long-term Debt	275		6.00	2025
OPCo	Other Long-term Debt	19		1.149	2028
OPCo	Securitization Bonds	22,200		0.958	2018
PSO	Other Long-term Debt	106		3.00	2027
SWEPCo	Notes Payable	1,625		4.58	2032
SWEPCo	Pollution Control Bonds	53,500		3.25	2015



Company	Maximum Borrowings from the Utility Money Pool		Maximum Loans to the Utility Money Pool		Average Borrowings from the Utility Money Pool		Average Loans to the Utility Money Pool		Net Loans to (Borrowings from) the Utility Money Pool as of March 31, 2015			Authorized Short-term Borrowing Limit
	(in thousands)
APCo	$	—	$	185,121	$	—	$	115,109	$	152,148		$	600,000
I&M	200,032		13,514		149,526		13,496		(154,653		)	500,000
OPCo	—		367,472		—		301,505		291,256			400,000
PSO	165,947		62,255		113,117		16,812		62,255			300,000
SWEPCo	112,481		293,378		52,596		96,548		293,378			350,000



	Three Months Ended March 31,
	2015		2014
Maximum Interest Rate	0.59	%	0.33	%
Minimum Interest Rate	0.39	%	0.28	%



	Average Interest Rate for Funds Borrowed from the Utility Money Pool for				Average Interest Rate for Funds Loaned to the Utility Money Pool for
	Three Months Ended March 31,				Three Months Ended March 31,
Company	2015		2014		2015		2014
APCo	—	%	—	%	0.45	%	0.31	%
I&M	0.46	%	—	%	0.46	%	0.31	%
OPCo	—	%	0.31	%	0.46	%	0.29	%
PSO	0.49	%	0.31	%	0.44	%	—	%
SWEPCo	0.46	%	0.31	%	0.52	%	—	%



	March 31,		December 31,
Company	2015		2014
	(in thousands)
APCo	$	164,414	$	159,823
I&M	152,843		137,459
OPCo	383,572		365,834
PSO	110,513		112,905
SWEPCo	132,161		148,668



	Three Months Ended March 31,
Company	2015		2014
	(in thousands)
APCo	$	2,454	$	2,423
I&M	2,357		2,040
OPCo	8,015		7,498
PSO	1,422		1,323
SWEPCo	1,722		1,566



	Three Months Ended March 31,
Company	2015		2014
	(in thousands)
APCo	$	429,624	$	437,196
I&M	419,560		407,150
OPCo	714,985		686,627
PSO	302,501		290,217
SWEPCo	373,167		390,588



Company	Type of Debt	Principal Amount (a)		Interest Rate	Due Date
Issuances:		(in thousands)		(%)
PSO	Senior Unsecured Notes	$	125,000	3.17	2025
PSO	Senior Unsecured Notes	125,000		4.09	2045
SWEPCo	Pollution Control Bonds	53,500		1.60	2019
SWEPCo	Senior Unsecured Notes	400,000		3.90	2045


(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.



Company	Type of Debt	Principal Amount Paid		Interest Rate	Due Date
Retirements and Principal Payments:		(in thousands)		(%)
APCo	Land Note	$	9	13.718	2026
APCo	Securitization Bonds	11,037		2.008	2024
I&M	Notes Payable	8,643		Variable	2016
I&M	Notes Payable	6,943		Variable	2017
I&M	Notes Payable	6,600		Variable	2019
I&M	Notes Payable	429		Variable	2016
I&M	Notes Payable	297		2.12	2016
I&M	Other Long-term Debt	2,750		Variable	2015
I&M	Other Long-term Debt	275		6.00	2025
OPCo	Other Long-term Debt	19		1.149	2028
OPCo	Securitization Bonds	22,200		0.958	2018
PSO	Other Long-term Debt	106		3.00	2027
SWEPCo	Notes Payable	1,625		4.58	2032
SWEPCo	Pollution Control Bonds	53,500		3.25	2015



Company	Maximum Borrowings from the Utility Money Pool		Maximum Loans to the Utility Money Pool		Average Borrowings from the Utility Money Pool		Average Loans to the Utility Money Pool		Net Loans to (Borrowings from) the Utility Money Pool as of March 31, 2015			Authorized Short-term Borrowing Limit
	(in thousands)
APCo	$	—	$	185,121	$	—	$	115,109	$	152,148		$	600,000
I&M	200,032		13,514		149,526		13,496		(154,653		)	500,000
OPCo	—		367,472		—		301,505		291,256			400,000
PSO	165,947		62,255		113,117		16,812		62,255			300,000
SWEPCo	112,481		293,378		52,596		96,548		293,378			350,000



	Three Months Ended March 31,
	2015		2014
Maximum Interest Rate	0.59	%	0.33	%
Minimum Interest Rate	0.39	%	0.28	%



	Average Interest Rate for Funds Borrowed from the Utility Money Pool for				Average Interest Rate for Funds Loaned to the Utility Money Pool for
	Three Months Ended March 31,				Three Months Ended March 31,
Company	2015		2014		2015		2014
APCo	—	%	—	%	0.45	%	0.31	%
I&M	0.46	%	—	%	0.46	%	0.31	%
OPCo	—	%	0.31	%	0.46	%	0.29	%
PSO	0.49	%	0.31	%	0.44	%	—	%
SWEPCo	0.46	%	0.31	%	0.52	%	—	%



	March 31,		December 31,
Company	2015		2014
	(in thousands)
APCo	$	164,414	$	159,823
I&M	152,843		137,459
OPCo	383,572		365,834
PSO	110,513		112,905
SWEPCo	132,161		148,668



	Three Months Ended March 31,
Company	2015		2014
	(in thousands)
APCo	$	2,454	$	2,423
I&M	2,357		2,040
OPCo	8,015		7,498
PSO	1,422		1,323
SWEPCo	1,722		1,566



	Three Months Ended March 31,
Company	2015		2014
	(in thousands)
APCo	$	429,624	$	437,196
I&M	419,560		407,150
OPCo	714,985		686,627
PSO	302,501		290,217
SWEPCo	373,167		390,588



Company	Type of Debt	Principal Amount (a)		Interest Rate	Due Date
Issuances:		(in thousands)		(%)
PSO	Senior Unsecured Notes	$	125,000	3.17	2025
PSO	Senior Unsecured Notes	125,000		4.09	2045
SWEPCo	Pollution Control Bonds	53,500		1.60	2019
SWEPCo	Senior Unsecured Notes	400,000		3.90	2045


(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.



Company	Type of Debt	Principal Amount Paid		Interest Rate	Due Date
Retirements and Principal Payments:		(in thousands)		(%)
APCo	Land Note	$	9	13.718	2026
APCo	Securitization Bonds	11,037		2.008	2024
I&M	Notes Payable	8,643		Variable	2016
I&M	Notes Payable	6,943		Variable	2017
I&M	Notes Payable	6,600		Variable	2019
I&M	Notes Payable	429		Variable	2016
I&M	Notes Payable	297		2.12	2016
I&M	Other Long-term Debt	2,750		Variable	2015
I&M	Other Long-term Debt	275		6.00	2025
OPCo	Other Long-term Debt	19		1.149	2028
OPCo	Securitization Bonds	22,200		0.958	2018
PSO	Other Long-term Debt	106		3.00	2027
SWEPCo	Notes Payable	1,625		4.58	2032
SWEPCo	Pollution Control Bonds	53,500		3.25	2015



Company	Maximum Borrowings from the Utility Money Pool		Maximum Loans to the Utility Money Pool		Average Borrowings from the Utility Money Pool		Average Loans to the Utility Money Pool		Net Loans to (Borrowings from) the Utility Money Pool as of March 31, 2015			Authorized Short-term Borrowing Limit
	(in thousands)
APCo	$	—	$	185,121	$	—	$	115,109	$	152,148		$	600,000
I&M	200,032		13,514		149,526		13,496		(154,653		)	500,000
OPCo	—		367,472		—		301,505		291,256			400,000
PSO	165,947		62,255		113,117		16,812		62,255			300,000
SWEPCo	112,481		293,378		52,596		96,548		293,378			350,000



	Three Months Ended March 31,
	2015		2014
Maximum Interest Rate	0.59	%	0.33	%
Minimum Interest Rate	0.39	%	0.28	%



	Average Interest Rate for Funds Borrowed from the Utility Money Pool for				Average Interest Rate for Funds Loaned to the Utility Money Pool for
	Three Months Ended March 31,				Three Months Ended March 31,
Company	2015		2014		2015		2014
APCo	—	%	—	%	0.45	%	0.31	%
I&M	0.46	%	—	%	0.46	%	0.31	%
OPCo	—	%	0.31	%	0.46	%	0.29	%
PSO	0.49	%	0.31	%	0.44	%	—	%
SWEPCo	0.46	%	0.31	%	0.52	%	—	%



	March 31,		December 31,
Company	2015		2014
	(in thousands)
APCo	$	164,414	$	159,823
I&M	152,843		137,459
OPCo	383,572		365,834
PSO	110,513		112,905
SWEPCo	132,161		148,668



	Three Months Ended March 31,
Company	2015		2014
	(in thousands)
APCo	$	2,454	$	2,423
I&M	2,357		2,040
OPCo	8,015		7,498
PSO	1,422		1,323
SWEPCo	1,722		1,566



	Three Months Ended March 31,
Company	2015		2014
	(in thousands)
APCo	$	429,624	$	437,196
I&M	419,560		407,150
OPCo	714,985		686,627
PSO	302,501		290,217
SWEPCo	373,167		390,588



Company	Type of Debt	Principal Amount (a)		Interest Rate	Due Date
Issuances:		(in thousands)		(%)
PSO	Senior Unsecured Notes	$	125,000	3.17	2025
PSO	Senior Unsecured Notes	125,000		4.09	2045
SWEPCo	Pollution Control Bonds	53,500		1.60	2019
SWEPCo	Senior Unsecured Notes	400,000		3.90	2045


(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.



Company	Type of Debt	Principal Amount Paid		Interest Rate	Due Date
Retirements and Principal Payments:		(in thousands)		(%)
APCo	Land Note	$	9	13.718	2026
APCo	Securitization Bonds	11,037		2.008	2024
I&M	Notes Payable	8,643		Variable	2016
I&M	Notes Payable	6,943		Variable	2017
I&M	Notes Payable	6,600		Variable	2019
I&M	Notes Payable	429		Variable	2016
I&M	Notes Payable	297		2.12	2016
I&M	Other Long-term Debt	2,750		Variable	2015
I&M	Other Long-term Debt	275		6.00	2025
OPCo	Other Long-term Debt	19		1.149	2028
OPCo	Securitization Bonds	22,200		0.958	2018
PSO	Other Long-term Debt	106		3.00	2027
SWEPCo	Notes Payable	1,625		4.58	2032
SWEPCo	Pollution Control Bonds	53,500		3.25	2015



Company	Maximum Borrowings from the Utility Money Pool		Maximum Loans to the Utility Money Pool		Average Borrowings from the Utility Money Pool		Average Loans to the Utility Money Pool		Net Loans to (Borrowings from) the Utility Money Pool as of March 31, 2015			Authorized Short-term Borrowing Limit
	(in thousands)
APCo	$	—	$	185,121	$	—	$	115,109	$	152,148		$	600,000
I&M	200,032		13,514		149,526		13,496		(154,653		)	500,000
OPCo	—		367,472		—		301,505		291,256			400,000
PSO	165,947		62,255		113,117		16,812		62,255			300,000
SWEPCo	112,481		293,378		52,596		96,548		293,378			350,000



	Three Months Ended March 31,
	2015		2014
Maximum Interest Rate	0.59	%	0.33	%
Minimum Interest Rate	0.39	%	0.28	%



	Average Interest Rate for Funds Borrowed from the Utility Money Pool for				Average Interest Rate for Funds Loaned to the Utility Money Pool for
	Three Months Ended March 31,				Three Months Ended March 31,
Company	2015		2014		2015		2014
APCo	—	%	—	%	0.45	%	0.31	%
I&M	0.46	%	—	%	0.46	%	0.31	%
OPCo	—	%	0.31	%	0.46	%	0.29	%
PSO	0.49	%	0.31	%	0.44	%	—	%
SWEPCo	0.46	%	0.31	%	0.52	%	—	%



	March 31,		December 31,
Company	2015		2014
	(in thousands)
APCo	$	164,414	$	159,823
I&M	152,843		137,459
OPCo	383,572		365,834
PSO	110,513		112,905
SWEPCo	132,161		148,668



	Three Months Ended March 31,
Company	2015		2014
	(in thousands)
APCo	$	2,454	$	2,423
I&M	2,357		2,040
OPCo	8,015		7,498
PSO	1,422		1,323
SWEPCo	1,722		1,566



	Three Months Ended March 31,
Company	2015		2014
	(in thousands)
APCo	$	429,624	$	437,196
I&M	419,560		407,150
OPCo	714,985		686,627
PSO	302,501		290,217
SWEPCo	373,167		390,588



Company	Type of Debt	Principal Amount (a)		Interest Rate	Due Date
Issuances:		(in thousands)		(%)
PSO	Senior Unsecured Notes	$	125,000	3.17	2025
PSO	Senior Unsecured Notes	125,000		4.09	2045
SWEPCo	Pollution Control Bonds	53,500		1.60	2019
SWEPCo	Senior Unsecured Notes	400,000		3.90	2045


(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.



Company	Type of Debt	Principal Amount Paid		Interest Rate	Due Date
Retirements and Principal Payments:		(in thousands)		(%)
APCo	Land Note	$	9	13.718	2026
APCo	Securitization Bonds	11,037		2.008	2024
I&M	Notes Payable	8,643		Variable	2016
I&M	Notes Payable	6,943		Variable	2017
I&M	Notes Payable	6,600		Variable	2019
I&M	Notes Payable	429		Variable	2016
I&M	Notes Payable	297		2.12	2016
I&M	Other Long-term Debt	2,750		Variable	2015
I&M	Other Long-term Debt	275		6.00	2025
OPCo	Other Long-term Debt	19		1.149	2028
OPCo	Securitization Bonds	22,200		0.958	2018
PSO	Other Long-term Debt	106		3.00	2027
SWEPCo	Notes Payable	1,625		4.58	2032
SWEPCo	Pollution Control Bonds	53,500		3.25	2015



Company	Maximum Borrowings from the Utility Money Pool		Maximum Loans to the Utility Money Pool		Average Borrowings from the Utility Money Pool		Average Loans to the Utility Money Pool		Net Loans to (Borrowings from) the Utility Money Pool as of March 31, 2015			Authorized Short-term Borrowing Limit
	(in thousands)
APCo	$	—	$	185,121	$	—	$	115,109	$	152,148		$	600,000
I&M	200,032		13,514		149,526		13,496		(154,653		)	500,000
OPCo	—		367,472		—		301,505		291,256			400,000
PSO	165,947		62,255		113,117		16,812		62,255			300,000
SWEPCo	112,481		293,378		52,596		96,548		293,378			350,000



	Three Months Ended March 31,
	2015		2014
Maximum Interest Rate	0.59	%	0.33	%
Minimum Interest Rate	0.39	%	0.28	%



	Average Interest Rate for Funds Borrowed from the Utility Money Pool for				Average Interest Rate for Funds Loaned to the Utility Money Pool for
	Three Months Ended March 31,				Three Months Ended March 31,
Company	2015		2014		2015		2014
APCo	—	%	—	%	0.45	%	0.31	%
I&M	0.46	%	—	%	0.46	%	0.31	%
OPCo	—	%	0.31	%	0.46	%	0.29	%
PSO	0.49	%	0.31	%	0.44	%	—	%
SWEPCo	0.46	%	0.31	%	0.52	%	—	%



	March 31,		December 31,
Company	2015		2014
	(in thousands)
APCo	$	164,414	$	159,823
I&M	152,843		137,459
OPCo	383,572		365,834
PSO	110,513		112,905
SWEPCo	132,161		148,668



	Three Months Ended March 31,
Company	2015		2014
	(in thousands)
APCo	$	2,454	$	2,423
I&M	2,357		2,040
OPCo	8,015		7,498
PSO	1,422		1,323
SWEPCo	1,722		1,566



	Three Months Ended March 31,
Company	2015		2014
	(in thousands)
APCo	$	429,624	$	437,196
I&M	419,560		407,150
OPCo	714,985		686,627
PSO	302,501		290,217
SWEPCo	373,167		390,588