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Consolidated Statements of Income - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Revenues        
Vertically Integrated Utilities $ 2,095.7 $ 2,108.2 $ 4,365.5 $ 4,326.3
Transmission and Distribution Utilities 1,026.6 1,076.2 2,093.0 2,153.5
Generation & Marketing 386.5 655.3 945.3 1,369.2
Other Revenues 67.7 53.2 106.0 88.8
TOTAL REVENUES 3,576.5 3,892.9 7,509.8 7,937.8
Expenses        
Fuel and Other Consumables Used for Electric Generation 522.3 680.4 1,157.9 1,356.0
Purchased Electricity for Resale 669.2 629.2 1,438.8 1,360.6
Other Operation 604.2 664.5 1,206.4 1,379.6
Maintenance 289.0 289.4 591.4 568.1
Asset Impairments and Other Related Charges 1.9 0.0 13.1 0.0
Gain on Sale of Merchant Generation Assets 0.1 0.0 (226.4) 0.0
Depreciation and Amortization 485.5 513.8 967.4 1,010.9
Taxes Other Than Income Taxes 259.6 249.4 519.4 503.5
TOTAL EXPENSES 2,831.8 3,026.7 5,668.0 6,178.7
OPERATING INCOME (LOSS) 744.7 866.2 1,841.8 1,759.1
Other Income (Expense):        
Interest and Investment Income 2.3 2.4 10.3 4.5
Carrying Costs Income 5.7 6.3 11.6 10.2
Allowance for Equity Funds Used During Construction 21.0 28.8 42.2 60.5
Interest Expense (222.9) (224.9) (444.7) (441.9)
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAX EXPENSE (CREDIT) AND EQUITY EARNINGS (LOSS) 550.8 678.8 1,461.2 1,392.4
Income Tax Expense (Credit) 190.6 165.0 533.8 400.5
Equity Earnings (Loss) of Unconsolidated Subsidiaries 16.0 (7.4) 43.0 17.6
Income (Loss) from Continuing Operations, Including Portion Attributable to Noncontrolling Interest 376.2 506.4 970.4 1,009.5
Income (Loss) from Discontinued Operations, Net of Tax 0.0 (2.5) 0.0 (2.5)
Net Income (Loss) 376.2 503.9 970.4 1,007.0
Net Income Attributable to Noncontrolling Interests 1.2 1.8 3.2 3.7
Earnings Attributable to Common Shareholders $ 375.0 $ 502.1 $ 967.2 $ 1,003.3
Earnings Per Share        
Weighted Average Number of Basic AEP Common Shares Outstanding 491,790,752 491,459,541 491,751,614 491,283,967
Basic Earnings Per Share Attributable to AEP Common Shareholders from Continuing Operations $ 0.76 $ 1.03 $ 1.97 $ 2.05
Basic Earnings Per Share Attributable to AEP Common Shareholders from Discontinued Operations 0.00 (0.01) 0.00 (0.01)
Total Basic Earnings Per Share Attributable to AEP Common Shareholders $ 0.76 $ 1.02 $ 1.97 $ 2.04
Weighted Average Number of Diluted AEP Common Shares Outstanding 492,642,100 491,641,400 492,337,255 491,486,853
Diluted Earnings Per Share Attributable to AEP Common Shareholders from Continuing Operations $ 0.76 $ 1.03 $ 1.96 $ 2.05
Diluted Earnings Per Share Attributable to AEP Common Shareholders from Discontinued Operations 0.00 (0.01) 0.00 (0.01)
Total Diluted Earnings Per Share Attributable to AEP Common Shareholders 0.76 1.02 1.96 2.04
Common Stock, Dividends Per Share, Declared $ 0.59 $ 0.56 $ 1.18 $ 1.12
AEP Transmission Co [Member]        
Revenues        
Electrical Transmission Revenue $ 44.0 $ 34.1 $ 63.3 $ 56.1
Sales to AEP Affiliates 185.4 119.0 318.8 176.6
TOTAL REVENUES 229.4 153.1 382.1 232.7
Expenses        
Other Operation 11.3 6.3 20.4 13.5
Maintenance 2.3 1.4 5.4 2.9
Depreciation and Amortization 22.8 15.6 46.1 30.7
Taxes Other Than Income Taxes 27.6 21.7 54.4 42.7
TOTAL EXPENSES 64.0 45.0 126.3 89.8
OPERATING INCOME (LOSS) 165.4 108.1 255.8 142.9
Other Income (Expense):        
Interest Income 0.1 0.1 0.3 0.1
Allowance for Equity Funds Used During Construction 13.4 14.1 24.3 26.4
Interest Expense (15.7) (10.5) (31.7) (21.3)
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAX EXPENSE (CREDIT) AND EQUITY EARNINGS (LOSS) 163.2 111.8 248.7 148.1
Income Tax Expense (Credit) 55.8 37.0 84.3 47.5
Net Income (Loss) 107.4 74.8 164.4 100.6
Appalachian Power Co [Member]        
Revenues        
Vertically Integrated Utilities 625.6 638.8 1,370.6 1,414.3
Sales to AEP Affiliates 46.3 32.2 88.7 72.6
Other Revenues 3.4 2.5 8.8 6.6
TOTAL REVENUES 675.3 673.5 1,468.1 1,493.5
Expenses        
Fuel and Other Consumables Used for Electric Generation 152.5 153.3 319.7 304.0
Purchased Electricity for Resale 65.2 63.5 156.0 171.7
Other Operation 137.9 111.2 250.5 231.8
Maintenance 60.8 60.2 132.0 129.5
Depreciation and Amortization 100.7 96.4 201.3 191.9
Taxes Other Than Income Taxes 30.8 30.6 61.0 61.9
TOTAL EXPENSES 547.9 515.2 1,120.5 1,090.8
OPERATING INCOME (LOSS) 127.4 158.3 347.6 402.7
Other Income (Expense):        
Interest Income 0.5 0.2 0.8 0.5
Carrying Costs Income 0.3 1.0 0.6 0.2
Allowance for Equity Funds Used During Construction 2.0 2.3 3.5 4.6
Interest Expense (48.2) (47.3) (96.3) (94.3)
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAX EXPENSE (CREDIT) AND EQUITY EARNINGS (LOSS) 82.0 114.5 256.2 313.7
Income Tax Expense (Credit) 29.9 41.1 93.5 114.0
Net Income (Loss) 52.1 73.4 162.7 199.7
Indiana Michigan Power Co [Member]        
Revenues        
Vertically Integrated Utilities 451.9 495.7 990.4 996.1
Other Revenues - Affiliated 12.4 22.4 31.1 49.2
Other Revenues 3.0 4.3 6.3 9.8
TOTAL REVENUES 467.3 522.4 1,027.8 1,055.1
Expenses        
Fuel and Other Consumables Used for Electric Generation 71.1 76.3 161.8 145.5
Purchased Electricity for Resale 31.0 41.0 68.3 90.6
Purchased Electricity from AEP Affiliates 49.9 56.0 103.8 101.4
Other Operation 158.1 133.7 293.7 275.0
Maintenance 50.7 48.0 102.1 88.9
Depreciation and Amortization 49.8 47.0 99.8 94.1
Taxes Other Than Income Taxes 21.5 25.6 44.4 49.0
TOTAL EXPENSES 432.1 427.6 873.9 844.5
OPERATING INCOME (LOSS) 35.2 94.8 153.9 210.6
Other Income (Expense):        
Interest Income 4.6 4.2 9.1 7.4
Allowance for Equity Funds Used During Construction 2.5 4.5 4.6 6.8
Interest Expense (27.8) (27.1) (55.5) (49.6)
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAX EXPENSE (CREDIT) AND EQUITY EARNINGS (LOSS) 14.5 76.4 112.1 175.2
Income Tax Expense (Credit) 4.0 25.1 33.2 49.2
Net Income (Loss) 10.5 51.3 78.9 126.0
Ohio Power Co [Member]        
Revenues        
Transmission and Distribution Utilities 653.4 728.1 1,391.8 1,484.8
Sales to AEP Affiliates 9.1 1.4 14.8 6.2
Other Revenues 1.4 1.3 3.4 3.4
TOTAL REVENUES 663.9 730.8 1,410.0 1,494.4
Expenses        
Purchased Electricity for Resale 156.4 147.8 344.7 312.7
Purchased Electricity from AEP Affiliates 24.7 36.4 56.7 85.5
Amortization of Generation Deferrals 53.3 51.8 114.2 106.9
Other Operation 130.6 173.8 251.8 341.7
Maintenance 33.3 31.9 70.5 65.6
Depreciation and Amortization 51.1 58.3 108.4 119.6
Taxes Other Than Income Taxes 94.9 92.2 193.4 189.8
TOTAL EXPENSES 544.3 592.2 1,139.7 1,221.8
OPERATING INCOME (LOSS) 119.6 138.6 270.3 272.6
Other Income (Expense):        
Interest Income 0.8 0.8 3.3 2.3
Carrying Costs Income 0.6 1.2 2.5 3.1
Allowance for Equity Funds Used During Construction 0.8 1.7 3.2 3.4
Interest Expense (26.1) (29.1) (51.1) (60.5)
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAX EXPENSE (CREDIT) AND EQUITY EARNINGS (LOSS) 95.7 113.2 228.2 220.9
Income Tax Expense (Credit) 33.4 38.6 79.7 76.1
Net Income (Loss) 62.3 74.6 148.5 144.8
Public Service Co Of Oklahoma [Member]        
Revenues        
Vertically Integrated Utilities 342.6 298.6 644.5 570.4
Sales to AEP Affiliates 1.0 0.9 2.1 1.9
Other Revenues 1.1 0.7 2.2 2.2
TOTAL REVENUES 344.7 300.2 648.8 574.5
Expenses        
Fuel and Other Consumables Used for Electric Generation 25.6 11.1 37.9 26.6
Purchased Electricity for Resale 126.7 91.2 252.0 184.5
Purchased Electricity from AEP Affiliates 0.0 0.4 0.0 0.4
Other Operation 75.3 67.9 142.7 130.8
Maintenance 28.8 24.2 63.0 46.0
Depreciation and Amortization 32.6 37.4 66.1 72.7
Taxes Other Than Income Taxes 9.6 9.0 20.2 18.7
TOTAL EXPENSES 298.6 241.2 581.9 479.7
OPERATING INCOME (LOSS) 46.1 59.0 66.9 94.8
Other Income (Expense):        
Interest Income 0.0 0.1 0.1 0.3
Allowance for Equity Funds Used During Construction 0.0 1.5 0.4 3.8
Interest Expense (13.4) (15.3) (27.0) (29.7)
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAX EXPENSE (CREDIT) AND EQUITY EARNINGS (LOSS) 32.7 45.3 40.4 69.2
Income Tax Expense (Credit) 12.3 16.4 15.2 24.6
Net Income (Loss) 20.4 28.9 25.2 44.6
Southwestern Electric Power Co [Member]        
Revenues        
Vertically Integrated Utilities 416.0 418.2 812.3 793.6
Sales to AEP Affiliates 8.1 8.3 12.7 11.4
Other Revenues 0.6 0.5 1.0 1.0
TOTAL REVENUES 424.7 427.0 826.0 806.0
Expenses        
Fuel and Other Consumables Used for Electric Generation 111.4 122.6 242.3 244.5
Purchased Electricity for Resale 46.3 33.5 78.7 61.6
Other Operation 73.9 77.0 151.9 154.1
Maintenance 41.7 37.1 73.9 68.2
Depreciation and Amortization 52.1 49.4 102.9 96.9
Taxes Other Than Income Taxes 24.3 21.5 47.6 43.4
TOTAL EXPENSES 349.7 341.1 697.3 668.7
OPERATING INCOME (LOSS) 75.0 85.9 128.7 137.3
Other Income (Expense):        
Interest Income 0.4 0.0 1.3 0.0
Allowance for Equity Funds Used During Construction 0.0 2.0 0.8 9.4
Interest Expense (30.9) (31.5) (60.8) (59.4)
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAX EXPENSE (CREDIT) AND EQUITY EARNINGS (LOSS) 44.5 56.4 70.0 87.3
Income Tax Expense (Credit) 13.2 13.3 22.7 20.7
Equity Earnings (Loss) of Unconsolidated Subsidiaries (6.2) 1.2 (4.9) 2.2
Net Income (Loss) 25.1 44.3 42.4 68.8
Net Income Attributable to Noncontrolling Interests 0.6 1.1 1.6 2.2
Earnings Attributable to Common Shareholders $ 24.5 $ 43.2 $ 40.8 $ 66.6