Variable Interest Entities (Tables)

3 Months Ended

Mar. 31, 2015

Consolidated Assets and Liabilities of Variable Interest Entities

AMERICAN ELECTRIC POWER COMPANY, INC. AND SUBSIDIARY COMPANIES

VARIABLE INTEREST ENTITIES

March 31, 2015

(in millions)

	SWEPCo Sabine		I&M DCC Fuel		AEP Credit		TCC Transition Funding			OPCo Ohio Phase-in- Recovery Funding			APCo Appalachian Consumer Rate Relief Funding			Protected Cell of EIS		Transource Energy
ASSETS
Current Assets	$	59	$	89	$	995	$	169		$	22		$	11		$	158	$	16
Net Property, Plant and
Equipment	144		129		—		—			—			—			—		116
Other Noncurrent Assets	59		65		—		1,594		(a)	198		(b)	352		(c)	2		6
Total Assets	$	262	$	283	$	995	$	1,763		$	220		$	363		$	160	$	138
LIABILITIES AND EQUITY
Current Liabilities	$	29	$	81	$	895	$	316		$	47		$	24		$	50	$	31
Noncurrent Liabilities	233		202		—		1,429			172			337			64		60
Equity	—		—		100		18			1			2			46		47
Total Liabilities and Equity	$	262	$	283	$	995	$	1,763		$	220		$	363		$	160	$	138

(a) Includes an intercompany item eliminated in consolidation of $74 million.

(b) Includes an intercompany item eliminated in consolidation of $92 million.

(c) Includes an intercompany item eliminated in consolidation of $4 million.

AMERICAN ELECTRIC POWER COMPANY, INC. AND SUBSIDIARY COMPANIES

VARIABLE INTEREST ENTITIES

December 31, 2014

(in millions)

	SWEPCo Sabine		I&M DCC Fuel		AEP Credit		TCC Transition Funding			OPCo Ohio Phase-in- Recovery Funding			APCo Appalachian Consumer Rate Relief Funding			Protected Cell of EIS		Transource Energy
ASSETS
Current Assets	$	68	$	97	$	980	$	239		$	33		$	18		$	149	$	2
Net Property, Plant and Equipment	145		158		—		—			—			—			—		98
Other Noncurrent Assets	52		80		—		1,654		(a)	210		(b)	358		(c)	2		4
Total Assets	$	265	$	335	$	980	$	1,893		$	243		$	376		$	151	$	104
LIABILITIES AND EQUITY
Current Liabilities	$	36	$	86	$	894	$	322		$	47		$	27		$	44	$	21
Noncurrent Liabilities	228		249		—		1,553			195			347			62		55
Equity	1		—		86		18			1			2			45		28
Total Liabilities and Equity	$	265	$	335	$	980	$	1,893		$	243		$	376		$	151	$	104

(a) Includes an intercompany item eliminated in consolidation of $75 million.

(b) Includes an intercompany item eliminated in consolidation of $97 million.

(c) Includes an intercompany item eliminated in consolidation of $4 million.

Appalachian Power Co [Member] | Billings from American Electric Power Service Corporation [Member]

Billings from Significant Variable Interest

	Three Months Ended March 31,
Company	2015		2014
	(in thousands)
APCo	$	48,248	$	50,136
I&M	33,502		31,969
OPCo	39,230		39,049
PSO	23,524		24,439
SWEPCo	31,514		33,023

Appalachian Power Co [Member] | Carrying Amount in AEPSC's Accounts Payable [Member]

Carrying Amount and Classification of Variable Interest in Accounts Payable

	March 31, 2015				December 31, 2014
Company	As Reported on the Balance Sheet		Maximum Exposure		As Reported on the Balance Sheet		Maximum Exposure
	(in thousands)
APCo	$	16,935	$	16,935	$	30,692	$	30,692
I&M	12,795		12,795		22,480		22,480
OPCo	13,376		13,376		24,695		24,695
PSO	8,005		8,005		15,338		15,338
SWEPCo	10,778		10,778		20,772		20,772

Indiana Michigan Power Co [Member] | Billings from AEP Generating Co [Member]

Billings from Significant Variable Interest

	Three Months Ended March 31,
Company	2015		2014
	(in thousands)
I&M	$	54,965	$	70,422

Indiana Michigan Power Co [Member] | Billings from American Electric Power Service Corporation [Member]

Billings from Significant Variable Interest

	Three Months Ended March 31,
Company	2015		2014
	(in thousands)
APCo	$	48,248	$	50,136
I&M	33,502		31,969
OPCo	39,230		39,049
PSO	23,524		24,439
SWEPCo	31,514		33,023

Indiana Michigan Power Co [Member] | Carrying Amount in AEGCo's Accounts Payable [Member]

Carrying Amount and Classification of Variable Interest in Accounts Payable

	March 31, 2015				December 31, 2014
Company	As Reported on the Balance Sheet		Maximum Exposure		As Reported on the Balance Sheet		Maximum Exposure
	(in thousands)
I&M	$	14,982	$	14,982	$	20,031	$	20,031

Indiana Michigan Power Co [Member] | Carrying Amount in AEPSC's Accounts Payable [Member]

Carrying Amount and Classification of Variable Interest in Accounts Payable

	March 31, 2015				December 31, 2014
Company	As Reported on the Balance Sheet		Maximum Exposure		As Reported on the Balance Sheet		Maximum Exposure
	(in thousands)
APCo	$	16,935	$	16,935	$	30,692	$	30,692
I&M	12,795		12,795		22,480		22,480
OPCo	13,376		13,376		24,695		24,695
PSO	8,005		8,005		15,338		15,338
SWEPCo	10,778		10,778		20,772		20,772

Indiana Michigan Power Co [Member] | DCC Fuel [Member]

Consolidated Assets and Liabilities of Variable Interest Entities

INDIANA MICHIGAN POWER COMPANY AND SUBSIDIARIES

VARIABLE INTEREST ENTITIES

March 31, 2015 and December 31, 2014

(in thousands)

	DCC Fuel
ASSETS	2015		2014
Current Assets	$	89,509	$	97,361
Net Property, Plant and Equipment	128,919		158,121
Other Noncurrent Assets	64,576		79,705
Total Assets	$	283,004	$	335,187
LIABILITIES AND EQUITY
Current Liabilities	$	80,834	$	86,026
Noncurrent Liabilities	202,170		249,161
Total Liabilities and Equity	$	283,004	$	335,187

Ohio Power Co [Member] | Billings from American Electric Power Service Corporation [Member]

Billings from Significant Variable Interest

	Three Months Ended March 31,
Company	2015		2014
	(in thousands)
APCo	$	48,248	$	50,136
I&M	33,502		31,969
OPCo	39,230		39,049
PSO	23,524		24,439
SWEPCo	31,514		33,023

Ohio Power Co [Member] | Carrying Amount in AEPSC's Accounts Payable [Member]

Carrying Amount and Classification of Variable Interest in Accounts Payable

	March 31, 2015				December 31, 2014
Company	As Reported on the Balance Sheet		Maximum Exposure		As Reported on the Balance Sheet		Maximum Exposure
	(in thousands)
APCo	$	16,935	$	16,935	$	30,692	$	30,692
I&M	12,795		12,795		22,480		22,480
OPCo	13,376		13,376		24,695		24,695
PSO	8,005		8,005		15,338		15,338
SWEPCo	10,778		10,778		20,772		20,772

Ohio Power Co [Member] | Ohio Phase-In-Recovery Funding [Member]

Consolidated Assets and Liabilities of Variable Interest Entities

OHIO POWER COMPANY AND SUBSIDIARIES

VARIABLE INTEREST ENTITIES

March 31, 2015 and December 31, 2014

(in thousands)

	Ohio Phase-In Recovery Funding
ASSETS	2015		2014
Current Assets	$	21,606	$	32,676
Other Noncurrent Assets (a)	198,266		209,922
Total Assets	$	219,872	$	242,598
LIABILITIES AND EQUITY
Current Liabilities	$	46,756	$	47,099
Noncurrent Liabilities	171,779		194,162
Equity	1,337		1,337
Total Liabilities and Equity	$	219,872	$	242,598

(a) Includes an intercompany item eliminated in consolidation as of March 31, 2015 and December 31, 2014 of $92 million and $97 million, respectively.

Public Service Co Of Oklahoma [Member] | Billings from American Electric Power Service Corporation [Member]

Billings from Significant Variable Interest

	Three Months Ended March 31,
Company	2015		2014
	(in thousands)
APCo	$	48,248	$	50,136
I&M	33,502		31,969
OPCo	39,230		39,049
PSO	23,524		24,439
SWEPCo	31,514		33,023

Public Service Co Of Oklahoma [Member] | Carrying Amount in AEPSC's Accounts Payable [Member]

Carrying Amount and Classification of Variable Interest in Accounts Payable

	March 31, 2015				December 31, 2014
Company	As Reported on the Balance Sheet		Maximum Exposure		As Reported on the Balance Sheet		Maximum Exposure
	(in thousands)
APCo	$	16,935	$	16,935	$	30,692	$	30,692
I&M	12,795		12,795		22,480		22,480
OPCo	13,376		13,376		24,695		24,695
PSO	8,005		8,005		15,338		15,338
SWEPCo	10,778		10,778		20,772		20,772

Southwestern Electric Power Co [Member] | Billings from American Electric Power Service Corporation [Member]

Billings from Significant Variable Interest

	Three Months Ended March 31,
Company	2015		2014
	(in thousands)
APCo	$	48,248	$	50,136
I&M	33,502		31,969
OPCo	39,230		39,049
PSO	23,524		24,439
SWEPCo	31,514		33,023

Southwestern Electric Power Co [Member] | Carrying Amount in AEPSC's Accounts Payable [Member]

Carrying Amount and Classification of Variable Interest in Accounts Payable

	March 31, 2015				December 31, 2014
Company	As Reported on the Balance Sheet		Maximum Exposure		As Reported on the Balance Sheet		Maximum Exposure
	(in thousands)
APCo	$	16,935	$	16,935	$	30,692	$	30,692
I&M	12,795		12,795		22,480		22,480
OPCo	13,376		13,376		24,695		24,695
PSO	8,005		8,005		15,338		15,338
SWEPCo	10,778		10,778		20,772		20,772

Southwestern Electric Power Co [Member] | Sabine Mining Co [Member]

Consolidated Assets and Liabilities of Variable Interest Entities

SOUTHWESTERN ELECTRIC POWER COMPANY CONSOLIDATED

VARIABLE INTEREST ENTITIES

March 31, 2015 and December 31, 2014

(in thousands)

	Sabine
ASSETS	2015		2014
Current Assets	$	58,946	$	67,981
Net Property, Plant and Equipment	143,910		145,491
Other Noncurrent Assets	59,272		51,578
Total Assets	$	262,128	$	265,050
LIABILITIES AND EQUITY
Current Liabilities	$	28,620	$	36,286
Noncurrent Liabilities	233,122		228,349
Equity	386		415
Total Liabilities and Equity	$	262,128	$	265,050

Southwestern Electric Power Co [Member] | Dolet Hills Lignite Co, LLC [Member]

Companys Investment In Joint Venture

	March 31, 2015					December 31, 2014
	As Reported on the Balance Sheet		Maximum Exposure			As Reported on the Balance Sheet		Maximum Exposure
	(in thousands)
Capital Contribution from SWEPCo	$	7,643	$	7,643		$	7,643	$	7,643
Retained Earnings	4,415		4,415			3,819		3,819
SWEPCo's Guarantee of Debt	—		99,397		(a)	—		104,334		(a)
Total Investment in DHLC	$	12,058	$	111,455		$	11,462	$	115,796

PATH West Virginia Transmission Co, LLC [Member]

Companys Investment In Joint Venture

	March 31, 2015				December 31, 2014
	As Reported on the Balance Sheet		Maximum Exposure		As Reported on the Balance Sheet		Maximum Exposure
	(in millions)
Capital Contribution from AEP	$	19	$	19	$	19	$	19
Retained Earnings	2		2		2		2
Total Investment in PATH-WV	$	21	$	21	$	21	$	21

Appalachian Consumer Rate Relief Funding [Member] | Appalachian Power Co [Member]

Consolidated Assets and Liabilities of Variable Interest Entities

APPALACHIAN POWER COMPANY AND SUBSIDIARIES

VARIABLE INTEREST ENTITIES

March 31, 2015 and December 31, 2014

(in thousands)

	Appalachian Consumer Rate Relief Funding
ASSETS	2015		2014
Current Assets	$	10,886	$	18,099
Other Noncurrent Assets (a)	352,573		358,264
Total Assets	$	363,459	$	376,363
LIABILITIES AND EQUITY
Current Liabilities	$	24,397	$	26,809
Noncurrent Liabilities	337,336		347,652
Equity	1,726		1,902
Total Liabilities and Equity	$	363,459	$	376,363

(a) Includes an intercompany item eliminated in consolidation as of March 31, 2015 and December 31, 2014 of $4 million and $4 million, respectively.