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Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Sep. 30, 2015
Sep. 30, 2014
Revenues        
Vertically Integrated Utilities $ 2,436,000 $ 2,432,000 $ 7,082,000 $ 7,217,000
Transmission and Distribution Utilities 1,164,000 1,163,000 3,378,000 3,388,000
Generation & Marketing 802,000 538,000 2,289,000 1,932,000
Other Revenues 30,000 28,000 90,000 22,000
TOTAL REVENUES 4,432,000 4,161,000 12,839,000 12,559,000
Expenses        
Fuel and Other Consumables Used for Electric Generation 955,000 1,080,000 2,782,000 3,291,000
Purchased Electricity for Resale 731,000 449,000 2,050,000 1,560,000
Other Operation 691,000 685,000 1,955,000 1,985,000
Maintenance 312,000 313,000 923,000 929,000
Depreciation and Amortization 535,000 499,000 1,528,000 1,418,000
Taxes Other Than Income Taxes 248,000 230,000 733,000 679,000
TOTAL EXPENSES 3,472,000 3,256,000 9,971,000 9,862,000
OPERATING INCOME (LOSS) 960,000 905,000 2,868,000 2,697,000
Other Income (Expense):        
Interest and Investment Income 2,000 1,000 6,000 5,000
Carrying Costs Income 1,000 7,000 18,000 22,000
Allowance for Equity Funds Used During Construction 33,000 27,000 97,000 74,000
Interest Expense (221,000) (217,000) (659,000) (650,000)
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAX EXPENSE (CREDIT) AND EQUITY EARNINGS (LOSS) 775,000 723,000 2,330,000 2,148,000
Income Tax Expense (Credit) 275,000 264,000 827,000 783,000
Equity Earnings (Loss) of Unconsolidated Subsidiaries 12,000 24,000 61,000 65,000
Income from Continuing Operations 512,000 483,000 1,564,000 1,430,000
Income from Discontinued Operations, Net of Tax 8,000 11,000 18,000 16,000
NET INCOME (LOSS) 520,000 494,000 1,582,000 1,446,000
Net Income Attributable to Noncontrolling Interests 1,000 1,000 4,000 3,000
EARNINGS ATTRIBUTABLE TO AEP COMMON SHAREHOLDERS $ 519,000 $ 493,000 $ 1,578,000 $ 1,443,000
Earnings Per Share        
WEIGHTED AVERAGE NUMBER OF BASIC AEP COMMON SHARES OUTSTANDING 490,648,929 488,912,892 490,155,315 488,361,017
Income (Loss) from Continuing Operations, Per Basic Share $ 1.04 $ 0.99 $ 3.18 $ 2.92
Discontinued Operation, Income (Loss) from Discontinued Operation, Net of Tax, Per Basic Share 0.02 0.02 0.04 0.03
TOTAL BASIC EARNINGS PER SHARE ATTRIBUTABLE TO AEP COMMON SHAREHOLDERS $ 1.06 $ 1.01 $ 3.22 $ 2.95
WEIGHTED AVERAGE NUMBER OF DILUTED AEP COMMON SHARES OUTSTANDING 490,800,335 488,970,647 490,411,020 488,597,178
Income (Loss) from Continuing Operations, Per Diluted Share $ 1.04 $ 0.99 $ 3.18 $ 2.92
Discontinued Operation, Income (Loss) from Discontinued Operation, Net of Tax, Per Diluted Share 0.02 0.02 0.04 0.03
TOTAL DILUTED EARNINGS PER SHARE ATTRIBUTABLE TO AEP COMMON SHAREHOLDERS 1.06 1.01 3.22 2.95
CASH DIVIDENDS DECLARED PER SHARE $ 0.53 $ 0.5 $ 1.59 $ 1.5
Appalachian Power Co [Member]        
Revenues        
Vertically Integrated Utilities $ 685,312 $ 672,459 $ 2,184,943 $ 2,202,967
Sales to AEP Affiliates 39,389 35,455 115,740 108,439
Other Revenues 2,857 1,970 7,870 6,537
TOTAL REVENUES 727,558 709,884 2,308,553 2,317,943
Expenses        
Fuel and Other Consumables Used for Electric Generation 188,576 194,303 595,308 627,943
Purchased Electricity for Resale 80,452 85,656 258,836 340,680
Purchased Electricity from AEP Affiliates 0 0 0 4,662
Other Operation 101,841 103,835 311,631 297,269
Maintenance 70,459 64,333 179,793 193,907
Depreciation and Amortization 96,295 99,889 292,735 300,125
Taxes Other Than Income Taxes 32,002 31,632 93,089 92,434
TOTAL EXPENSES 569,625 579,648 1,731,392 1,857,020
OPERATING INCOME (LOSS) 157,933 130,236 577,161 460,923
Other Income (Expense):        
Interest Income 290 521 1,128 1,311
Carrying Costs Income 73 482 783 (1,130)
Allowance for Equity Funds Used During Construction 3,432 1,665 10,337 4,525
Interest Expense (46,625) (52,738) (145,600) (157,540)
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAX EXPENSE (CREDIT) AND EQUITY EARNINGS (LOSS) 115,103 80,166 443,809 308,089
Income Tax Expense (Credit) 40,507 31,408 168,368 121,233
NET INCOME (LOSS) 74,596 48,758 275,441 186,856
Indiana Michigan Power Co [Member]        
Revenues        
Vertically Integrated Utilities 536,227 520,881 1,617,504 1,642,721
Sales to AEP Affiliates 9,677 401 16,634 3,753
Other Revenues - Affiliated 21,672 20,832 62,183 70,821
Other Revenues 786 749 2,626 1,298
TOTAL REVENUES 568,362 542,863 1,698,947 1,718,593
Expenses        
Fuel and Other Consumables Used for Electric Generation 90,499 117,414 264,424 387,757
Purchased Electricity for Resale 41,544 20,019 147,711 52,467
Purchased Electricity from AEP Affiliates 67,281 66,561 182,239 203,807
Other Operation 141,054 144,331 407,320 431,953
Maintenance 53,727 59,043 160,907 161,854
Depreciation and Amortization 49,215 50,585 150,162 150,062
Taxes Other Than Income Taxes 21,608 22,059 66,992 64,685
TOTAL EXPENSES 464,928 480,012 1,379,755 1,452,585
OPERATING INCOME (LOSS) 103,434 62,851 319,192 266,008
Other Income (Expense):        
Interest Income 1,896 1,450 7,222 4,228
Allowance for Equity Funds Used During Construction 2,157 5,596 9,107 14,364
Interest Expense (23,144) (22,617) (68,889) (71,955)
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAX EXPENSE (CREDIT) AND EQUITY EARNINGS (LOSS) 84,343 47,280 266,632 212,645
Income Tax Expense (Credit) 27,691 20,654 86,725 71,596
NET INCOME (LOSS) 56,652 26,626 179,907 141,049
Ohio Power Co [Member]        
Revenues        
Transmission and Distribution Utilities 775,905 793,900 2,320,372 2,380,768
Sales to AEP Affiliates 4,426 43,733 79,690 120,154
Other Revenues 1,953 1,564 6,416 4,628
TOTAL REVENUES 782,284 839,197 2,406,478 2,505,550
Expenses        
Purchased Electricity for Resale 173,094 48,541 431,608 191,730
Purchased Electricity from AEP Affiliates 45,834 315,903 462,645 897,658
Amortization of Generation Deferrals 55,466 26,655 122,221 82,818
Other Operation 170,144 145,163 446,817 428,074
Maintenance 39,437 53,724 121,224 136,965
Depreciation and Amortization 63,757 54,968 178,609 165,152
Taxes Other Than Income Taxes 93,666 89,564 283,092 268,734
TOTAL EXPENSES 641,398 734,518 2,046,216 2,171,131
OPERATING INCOME (LOSS) 140,886 104,679 360,262 334,419
Other Income (Expense):        
Interest Income 1,165 1,986 4,328 8,159
Carrying Costs Income (1,576) 5,606 10,037 19,594
Allowance for Equity Funds Used During Construction 2,228 1,825 7,015 4,893
Interest Expense (32,593) (31,171) (96,313) (96,937)
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAX EXPENSE (CREDIT) AND EQUITY EARNINGS (LOSS) 110,110 82,925 285,329 270,128
Income Tax Expense (Credit) 38,541 28,865 100,641 98,759
NET INCOME (LOSS) 71,569 54,060 184,688 171,369
Public Service Co Of Oklahoma [Member]        
Revenues        
Vertically Integrated Utilities 418,592 415,193 1,040,876 1,028,427
Sales to AEP Affiliates 1,062 789 3,505 6,240
Other Revenues 709 1,009 2,258 2,524
TOTAL REVENUES 420,363 416,991 1,046,639 1,037,191
Expenses        
Fuel and Other Consumables Used for Electric Generation 87,680 85,018 226,260 192,567
Purchased Electricity for Resale 103,226 117,521 253,785 301,816
Purchased Electricity from AEP Affiliates 0 0 0 11,024
Other Operation 77,541 71,605 199,334 193,101
Maintenance 27,239 21,800 74,322 76,223
Depreciation and Amortization 30,832 24,496 90,148 73,085
Taxes Other Than Income Taxes 9,327 9,137 27,843 27,757
TOTAL EXPENSES 335,845 329,577 871,692 875,573
OPERATING INCOME (LOSS) 84,518 87,414 174,947 161,618
Other Income (Expense):        
Interest Income 127 137 255 138
Allowance for Equity Funds Used During Construction 2,342 194 5,952 2,215
Interest Expense (14,950) (13,913) (44,372) (41,009)
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAX EXPENSE (CREDIT) AND EQUITY EARNINGS (LOSS) 72,037 73,832 136,782 122,962
Income Tax Expense (Credit) 27,298 28,746 51,260 46,979
NET INCOME (LOSS) 44,739 45,086 85,522 75,983
Southwestern Electric Power Co [Member]        
Revenues        
Vertically Integrated Utilities 525,922 526,047 1,387,644 1,397,326
Sales to AEP Affiliates 5,959 5,203 13,115 22,748
Other Revenues 618 521 1,486 1,570
TOTAL REVENUES 532,499 531,771 1,402,245 1,421,644
Expenses        
Fuel and Other Consumables Used for Electric Generation 179,995 194,175 463,092 500,878
Purchased Electricity for Resale 23,597 36,960 70,799 138,380
Purchased Electricity from AEP Affiliates 0 0 0 3,766
Other Operation 81,391 68,601 214,835 206,442
Maintenance 34,425 29,867 100,076 93,946
Depreciation and Amortization 48,862 46,791 143,780 138,316
Taxes Other Than Income Taxes 23,014 22,246 66,062 63,272
TOTAL EXPENSES 391,284 398,640 1,058,644 1,145,000
OPERATING INCOME (LOSS) 141,215 133,131 343,601 276,644
Other Income (Expense):        
Interest Income 69 230 1,233 322
Allowance for Equity Funds Used During Construction 7,053 3,137 18,164 7,415
Interest Expense (29,263) (31,644) (91,423) (95,258)
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAX EXPENSE (CREDIT) AND EQUITY EARNINGS (LOSS) 119,074 104,854 271,575 189,123
Income Tax Expense (Credit) 37,358 31,042 85,417 60,252
Equity Earnings (Loss) of Unconsolidated Subsidiaries 410 735 2,131 1,461
NET INCOME (LOSS) 82,126 74,547 188,289 130,332
Net Income Attributable to Noncontrolling Interests 1,013 1,109 3,002 3,337
EARNINGS ATTRIBUTABLE TO AEP COMMON SHAREHOLDERS $ 81,113 $ 73,438 $ 185,287 $ 126,995