Financing Activities (Tables)

12 Months Ended

Dec. 31, 2018

AEP Common Stock

Shares of AEP Common Stock	Issued	Held in Treasury
Balance, December 31, 2015	511,389,173	20,336,592
Issued	659,347	—
Balance, December 31, 2016	512,048,520	20,336,592
Issued	162,124	—
Treasury Stock Reissued	—	(131,546	)	(a)
Balance, December 31, 2017	512,210,644	20,205,046
Issued	1,239,392	—
Treasury Stock Reissued	—	(886	)	(a)
Balance, December 31, 2018	513,450,036	20,204,160

(a) Reissued Treasury Stock used to fulfill share commitments related to AEP’s Share-based Compensation. See “Shared-based Compensation Plans” section of Note 15 for additional information.

Long-term Debt

		Weighted-Average	Interest Rate Ranges as of		Outstanding as of
		Interest Rate as of	December 31,		December 31,
Company	Maturity	December 31, 2018	2018	2017	2018		2017
AEP					(in millions)
Senior Unsecured Notes	2018-2048	4.36%	2.15%-8.13%	2.15%-8.13%	$	18,903.3	$	16,478.3
Pollution Control Bonds (a)	2018-2038 (b)	3.14%	1.60%-6.30%	1.54%-6.30%	1,643.8		1,621.7
Notes Payable – Nonaffiliated (c)	2019-2032	3.95%	3.20%-6.37%	2.03%-6.37%	204.7		260.8
Securitization Bonds	2018-2028 (d)	3.65%	1.98%-5.31%	1.98%-5.31%	1,111.4		1,416.5
Spent Nuclear Fuel Obligation (e)					273.6		268.6
Other Long-term Debt	2018-2059	3.72%	1.15%-13.718%	1.15%-13.718%	1,209.9		1,127.4
Total Long-term Debt Outstanding					$	23,346.7	$	21,173.3
AEP Texas
Senior Unsecured Notes	2018-2047	4.06%	2.40%-6.76%	2.40%-6.76%	$	2,398.4	$	1,932.2
Pollution Control Bonds	2020-2030	4.39%	1.75%-6.30%	1.75%-6.30%	490.9		490.5
Securitization Bonds	2018-2024 (d)	3.95%	1.98%-5.31%	1.98%-5.31%	791.2		1,026.1
Other Long-term Debt	2019-2059	3.94%	3.94%-4.50%	2.75%-4.50%	200.8		200.5
Total Long-term Debt Outstanding					$	3,881.3	$	3,649.3
AEPTCo
Senior Unsecured Notes	2018-2048	3.92%	2.68%-5.52%	2.68%-5.52%	$	2,823.0	$	2,550.4
Total Long-term Debt Outstanding					$	2,823.0	$	2,550.4
APCo
Senior Unsecured Notes	2021-2045	5.20%	3.30%-7.00%	3.30%-7.00%	$	3,047.3	$	3,045.1
Pollution Control Bonds (a)	2018-2038 (b)	2.64%	1.70%-5.38%	1.625%-5.38%	616.0		512.2
Securitization Bonds	2023-2028 (d)	3.06%	2.008%-3.772%	2.008%-3.772%	272.3		295.9
Other Long-term Debt	2019-2026	3.91%	3.74%-13.718%	2.73%-13.718%	127.0		126.9
Total Long-term Debt Outstanding					$	4,062.6	$	3,980.1
I&M
Senior Unsecured Notes	2019-2048	4.38%	3.20%-6.05%	3.20%-7.00%	$	2,149.0	$	1,809.0
Pollution Control Bonds (a)	2018-2025 (b)	2.49%	1.81%-3.05%	1.75%-2.75%	264.5		264.6
Notes Payable – Nonaffiliated (c)	2019-2022	3.30%	3.20%-3.38%	2.03%-2.19%	135.8		188.6
Spent Nuclear Fuel Obligation (e)					273.6		268.6
Other Long-term Debt	2018-2025	3.80%	3.66%-6.00%	2.82%-6.00%	212.5		214.3
Total Long-term Debt Outstanding					$	3,035.4	$	2,745.1
OPCo
Senior Unsecured Notes	2018-2048	5.52%	4.15%-6.60%	5.375%-6.60%	$	1,635.5	$	1,591.4
Pollution Control Bonds	2038	5.80%	5.80%	5.80%	32.3		32.3
Securitization Bonds	2019 (d)	2.049%	2.049%	2.049%	47.8		94.5
Other Long-term Debt	2028	1.15%	1.15%	1.15%	1.0		1.1
Total Long-term Debt Outstanding					$	1,716.6	$	1,719.3
PSO
Senior Unsecured Notes	2019-2046	4.80%	3.05%-6.625%	3.05%-6.625%	$	1,144.9	$	1,144.1
Pollution Control Bonds	2020	4.45%	4.45%	4.45%	12.6		12.6
Other Long-term Debt	2019-2027	3.70%	3.00%-3.72%	2.584%-3.00%	129.5		129.8
Total Long-term Debt Outstanding					$	1,287.0	$	1,286.5
SWEPCo
Senior Unsecured Notes	2018-2048	4.04%	2.75%-6.20%	2.75%-6.45%	$	2,427.0	$	2,110.7
Pollution Control Bonds	2018-2019	1.60%	1.60%	1.60%-4.95%	53.5		135.1
Notes Payable – Nonaffiliated (c)	2024-2032	5.23%	4.58%-6.37%	4.58%-6.37%	68.9		72.1
Other Long-term Debt	2020-2028	4.03%	3.75%-4.68%	2.925%-4.28%	164.0		124.0
Total Long-term Debt Outstanding					$	2,713.4	$	2,441.9

(a) For certain series of Pollution Control Bonds, interest rates are subject to periodic adjustment.  Certain series may be purchased on demand at periodic interest adjustment dates.  Letters of credit from banks and insurance policies support certain series.

(b) Certain Pollution Control Bonds are subject to redemption earlier than the maturity date.  Consequently, these bonds have been classified for maturity purposes as Long-term Debt Due Within One Year - Nonaffiliated on the balance sheets.

(c) Notes payable represent outstanding promissory notes issued under term loan agreements and credit agreements with a number of banks and other financial institutions. At expiration, all notes then issued and outstanding are due and payable. Interest rates are both fixed and variable. Variable rates generally relate to specified short-term interest rates.

(d) Dates represent the scheduled final payment dates for the securitization bonds. The legal maturity date is one to two years later. These bonds have been classified for maturity and repayment purposes based on the scheduled final payment date.

(e) Spent Nuclear Fuel Obligation consists of a liability along with accrued interest for disposal of SNF. See “Spent Nuclear Fuel Disposal” section of Note 6 for additional information.

Long-term Debt 5-Year Maturity

	AEP			AEP Texas			AEPTCo			APCo			I&M			OPCo			PSO			SWEPCo
	(in millions)
2019	$	1,698.5		$	501.1		$	85.0		$	430.7		$	155.4		$	47.9		$	375.5		$	59.7
2020	1,508.3			377.7			—			90.3			41.6			0.1			13.2			121.2
2021	1,961.5			66.2			50.0			393.0			256.4			500.1			250.5			6.2
2022	1,668.4			493.0			104.0			230.4			7.0			0.1			0.5			281.2
2023	539.6			195.0			60.0			26.6			252.4			0.1			0.5			6.2
After 2023	16,150.9			2,275.5			2,551.0			2,924.4			2,351.5			1,182.8			652.0			2,262.9
Principal Amount	23,527.2			3,908.5			2,850.0			4,095.4			3,064.3			1,731.1			1,292.2			2,737.4
Unamortized Discount, Net and Debt Issuance Costs	(180.5		)	(27.2		)	(27.0		)	(32.8		)	(28.9		)	(14.5		)	(5.2		)	(24.0		)
Total Long-term Debt Outstanding	$	23,346.7		$	3,881.3		$	2,823.0		$	4,062.6		$	3,035.4		$	1,716.6		$	1,287.0		$	2,713.4

Dividend Payment Restrictions

	AEP			AEP Texas		AEPTCo		APCo		I&M		OPCo		PSO		SWEPCo
	(in millions)
Restricted Retained Earnings	$	1,591.4	(a)	$	353.7	$	—	$	17.6	$	454.1	$	—	$	152.7	$	526.4

(a) Includes the restrictions of consolidated and non-consolidated subsidiaries.

Lines of Credit and Short-term Debt

		December 31,
		2018				2017
Company	Type of Debt	Outstanding Amount		Interest Rate (a)		Outstanding Amount		Interest Rate (a)
		(in millions)				(in millions)
AEP	Securitized Debt for Receivables (b)	$	750.0	2.16	%	$	718.0	1.22	%
AEP	Commercial Paper	1,160.0		2.96	%	898.6		1.85	%
SWEPCo	Notes Payable	—		—	%	22.0		2.92	%
	Total Short-term Debt	$	1,910.0			$	1,638.6

(a) Weighted-average interest rate.

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

Utility Money Pool Participants' Money Pool Activity and Authorized Borrowing Limits

Year Ended December 31, 2018:

	Maximum				Average				Net Loans to
	Borrowings		Maximum		Borrowings		Average		(Borrowings from)			Authorized
	from the		Loans to the		from the		Loans to the		the Utility Money			Short-term
	Utility		Utility		Utility		Utility		Pool as of			Borrowing
Company	Money Pool		Money Pool		Money Pool		Money Pool		December 31, 2018			Limit
	(in millions)
AEP Texas	$	390.6	$	106.9	$	176.0	$	47.1	$	(216.0	)	$	500.0
AEPTCo	371.3		276.4		177.9		58.4		35.8			795.0		(a)
APCo	295.5		23.7		175.3		23.3		(182.6		)	600.0
I&M	322.1		657.8		255.5		110.7		11.6			500.0
OPCo	270.8		225.0		167.8		189.4		(114.1		)	500.0
PSO	193.7		31.8		104.5		12.9		(105.5		)	300.0
SWEPCo	200.1		533.7		143.2		268.1		81.4			350.0

Year Ended December 31, 2017:

	Maximum				Average				Net Loans to
	Borrowings		Maximum		Borrowings		Average		(Borrowings from)			Authorized
	from the		Loans to the		from the		Loans to the		the Utility Money			Short-term
	Utility		Utility		Utility		Utility		Pool as of			Borrowing
Company	Money Pool		Money Pool		Money Pool		Money Pool		December 31, 2017			Limit
	(in millions)
AEP Texas	$	296.0	$	451.7	$	194.8	$	264.6	$	103.5		$	400.0
AEPTCo	467.2		268.0		180.5		119.8		109.2			795.0		(a)
APCo	231.5		160.7		144.3		30.0		(162.5		)	600.0
I&M	367.4		12.6		204.9		12.6		(199.2		)	500.0
OPCo	280.6		56.2		137.0		27.9		(87.8		)	400.0
PSO	185.2		—		119.3		—		(149.6		)	300.0
SWEPCo	187.5		178.6		95.5		169.5		(118.7		)	350.0

(a) Amount represents the combined authorized short-term borrowing limit the State Transcos have from FERC or state regulatory commissions.

Nonutility Money Pool Activity

Year Ended December 31, 2018:

	Maximum Loans		Average Loans		Loans to the Nonutility
	to the Nonutility		to the Nonutility		Money Pool as of
Company	Money Pool		Money Pool		December 31, 2018
	(in millions)
AEP Texas	$	8.4	$	8.1	$	8.0
SWEPCo	2.0		2.0		2.0

Year Ended December 31, 2017:

	Maximum Loans		Average Loans		Loans to the Nonutility
	to the Nonutility		to the Nonutility		Money Pool as of
Company	Money Pool		Money Pool		December 31, 2017
	(in millions)
AEP Texas	$	8.6	$	8.3	$	8.4
SWEPCo	2.0		2.0		2.0

Direct Borrowing Activity

Year Ended December 31, 2018:

Maximum

Maximum

Average

Average

Borrowings From

Loans to

Authorized

Borrowings

Loans

Borrowings

Loans

AEP as of

AEP as of

Short-term

from AEP

to AEP

from AEP

to AEP

December 31, 2018

December 31, 2018

Borrowing Limit

(in millions)

$

1.2

$

104.7

$

1.1

$

49.8

$

1.2

$

16.9

$

75.0

(a)

Year Ended December 31, 2017:

Maximum

Maximum

Average

Average

Borrowings from

Loans to

Authorized

Borrowings

Loans

Borrowings

Loans

AEP as of

AEP as of

Short-term

from AEP

to AEP

from AEP

to AEP

December 31, 2017

December 31, 2017

Borrowing Limit

(in millions)

$

4.1

$

151.9

$

1.1

$

39.3

$

1.1

$

22.5

$

75.0

(a)

(a) Amount represents the combined authorized short-term borrowing limit the State Transcos have from FERC or state regulatory commissions.

Maximum and Minimum Interest Rates for Funds Either Borrowed from or Loaned to Utility Money Pool

	Years Ended December 31,
	2018		2017		2016
Maximum Interest Rate	2.97	%	1.85	%	1.02	%
Minimum Interest Rate	1.81	%	0.92	%	0.69	%

Average Interest Rates for Funds Borrowed from and Loaned to Utility Money Pool

	Average Interest Rate for Funds Borrowed from the Utility Money Pool for the Years Ended December 31,						Average Interest Rate for Funds Loaned to the Utility Money Pool for the Years Ended December 31,
Company	2018		2017		2016		2018		2017		2016
AEP Texas	2.26	%	1.29	%	0.88	%	2.29	%	1.26	%	0.72	%
AEPTCo	2.27	%	1.36	%	0.85	%	2.10	%	1.27	%	0.83	%
APCo	2.26	%	1.28	%	0.80	%	2.21	%	1.29	%	0.82	%
I&M	2.16	%	1.27	%	0.80	%	2.08	%	1.29	%	0.80	%
OPCo	2.18	%	1.37	%	0.85	%	2.47	%	0.98	%	0.74	%
PSO	2.27	%	1.32	%	0.96	%	1.98	%	—	%	0.83	%
SWEPCo	2.31	%	1.28	%	0.79	%	2.00	%	0.98	%	0.90	%

Maximum, Minimum and Average Interest Rates for Funds Borrowed from and Loaned to the Nonutility Money Pool

Year Ended December 31, 2018:

Maximum

Minimum

Maximum

Minimum

Average

Average

Interest Rate

Interest Rate

Interest Rate

Interest Rate

Interest Rate

Interest Rate

for Funds

for Funds

for Funds

for Funds

for Funds

for Funds

Borrowed from

Borrowed from

Loaned to

Loaned to

Borrowed from

Loaned to

the Nonutility

the Nonutility

the Nonutility

the Nonutility

the Nonutility

the Nonutility

Company

Money Pool

Money Pool

Money Pool

Money Pool

Money Pool

Money Pool

AEP Texas

—

%

—

%

2.97

%

1.83

%

—

%

2.36

%

SWEPCo

—

%

—

%

2.97

%

1.83

%

—

%

2.36

%

Year Ended December 31, 2017:

Maximum

Minimum

Maximum

Minimum

Average

Average

Interest Rate

Interest Rate

Interest Rate

Interest Rate

Interest Rate

Interest Rate

for Funds

for Funds

for Funds

for Funds

for Funds

for Funds

Borrowed from

Borrowed from

Loaned to

Loaned to

Borrowed from

Loaned to

the Nonutility

the Nonutility

the Nonutility

the Nonutility

the Nonutility

the Nonutility

Company

Money Pool

Money Pool

Money Pool

Money Pool

Money Pool

Money Pool

AEP Texas

—

%

—

%

1.85

%

—

%

—

%

1.32

%

SWEPCo

—

%

—

%

1.85

%

—

%

—

%

1.32

%

Year Ended December 31, 2016:

Maximum

Minimum

Maximum

Minimum

Average

Average

Interest Rate

Interest Rate

Interest Rate

Interest Rate

Interest Rate

Interest Rate

for Funds

for Funds

for Funds

for Funds

for Funds

for Funds

Borrowed from

Borrowed from

Loaned to

Loaned to

Borrowed from

Loaned to

the Nonutility

the Nonutility

the Nonutility

the Nonutility

the Nonutility

the Nonutility

Company

Money Pool

Money Pool

Money Pool

Money Pool

Money Pool

Money Pool

AEP Texas

1.11

%

0.97

%

1.02

%

0.75

%

1.00

%

0.86

%

SWEPCo

—

%

—

%

1.02

%

0.69

%

—

%

0.82

%

Maximum Minimum and Average Interest Rates for Funds Borrowed from and Loaned to AEP

Year Ended December 31, 2018:

	Maximum		Minimum		Maximum		Minimum		Average		Average
	Interest Rate		Interest Rate		Interest Rate		Interest Rate		Interest Rate		Interest Rate
	for Funds		for Funds		for Funds		for Funds		for Funds		for Funds
	Borrowed from		Borrowed from		Loaned to		Loaned to		Borrowed from		Loaned to
Company	AEP		AEP		AEP		AEP		AEP		AEP
AEP Texas	—	%	—	%	—	%	—	%	—	%	—	%
AEPTCo	2.97	%	1.76	%	2.97	%	1.76	%	2.36	%	2.36	%

Year Ended December 31, 2017:

	Maximum		Minimum		Maximum		Minimum		Average		Average
	Interest Rate		Interest Rate		Interest Rate		Interest Rate		Interest Rate		Interest Rate
	for Funds		for Funds		for Funds		for Funds		for Funds		for Funds
	Borrowed from		Borrowed from		Loaned to		Loaned to		Borrowed from		Loaned to
Company	AEP		AEP		AEP		AEP		AEP		AEP
AEP Texas	—	%	—	%	—	%	—	%	—	%	—	%
AEPTCo	1.85	%	0.92	%	1.85	%	0.92	%	1.33	%	1.36	%

Year Ended December 31, 2016:

	Maximum		Minimum		Maximum		Minimum		Average		Average
	Interest Rate		Interest Rate		Interest Rate		Interest Rate		Interest Rate		Interest Rate
	for Funds		for Funds		for Funds		for Funds		for Funds		for Funds
	Borrowed from		Borrowed from		Loaned to		Loaned to		Borrowed from		Loaned to
Company	AEP		AEP		AEP		AEP		AEP		AEP
AEP Texas	0.98	%	0.69	%	1.02	%	0.99	%	0.83	%	1.00	%
AEPTCo	1.02	%	0.69	%	1.02	%	0.69	%	0.83	%	0.87	%

Comparative Accounts Receivable Information

	Years Ended December 31,
	2018			2017			2016
	(dollars in millions)
Effective Interest Rates on Securitization of Accounts Receivable	2.16		%	1.22		%	0.70		%
Net Uncollectible Accounts Receivable Written Off	$	27.6		$	23.4		$	23.7

Customer Accounts Receivable Managed Portfolio

	December 31,
	2018		2017
	(in millions)
Accounts Receivable Retained Interest and Pledged as Collateral Less Uncollectible Accounts	$	972.5	$	925.5
Short-term – Securitized Debt of Receivables	750.0		718.0
Delinquent Securitized Accounts Receivable	50.3		41.1
Bad Debt Reserves Related to Securitization	27.5		28.7
Unbilled Receivables Related to Securitization	281.4		303.2

Accounts Receivable and Accrued Unbilled Revenues

	December 31,
Company	2018		2017
	(in millions)
APCo	$	133.3	$	136.2
I&M	152.9		136.5
OPCo	395.2		367.4
PSO	109.7		115.1
SWEPCo	150.3		138.2

Fees Paid to AEP Credit for Customer Accounts Receivable Sold

	Years Ended December 31,
Company	2018		2017		2016
	(in millions)
APCo	$	7.0	$	5.6	$	6.7
I&M	9.2		6.7		7.1
OPCo	26.3		21.7		28.9
PSO	7.9		7.0		6.2
SWEPCo	8.9		7.2		6.9

Proceeds on Sale of Receivables to AEP Credit

	Years Ended December 31,
Company	2018		2017		2016
	(in millions)
APCo	$	1,421.0	$	1,372.8	$	1,412.5
I&M	1,843.0		1,612.9		1,596.2
OPCo	2,674.5		2,339.0		2,633.0
PSO	1,484.6		1,337.0		1,269.3
SWEPCo	1,736.1		1,563.4		1,531.7