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Business Segments (Tables)
 12 Months Ended
Dec. 31, 2019
Reportable Segment Information
 
State Transcos
 
AEPTCo Parent
 
Reconciling Adjustments
 
AEPTCo
Consolidated
2019
(in millions)
Revenues from:
 
 
 
 
 
 
 
External Customers
$
214.6

 
$
—

 
$
—

 
$
214.6

Sales to AEP Affiliates
806.7

 
—

 
—

 
806.7

Other Revenues
0.1

 
—

 
—

 
0.1

Total Revenues
$
1,021.4

 
$
—

 
$
—

 
$
1,021.4

 
 
 
 
 
 
 
 
Depreciation and Amortization
$
176.0

 
$
—

 
$
—

 
$
176.0

Interest Income
1.3

 
123.8

 
(122.1
)
(a)
3.0

Allowance for Equity Funds Used During Construction
84.3

 
—

 
—

 
84.3

Interest Expense
97.4

 
122.1

 
(122.1
)
(a)
97.4

Income Tax Expense
117.1

 
0.3

 
—

 
117.4

 
 
 
 
 
 
 
 
Net Income
$
438.6

 
$
1.1

(b)
$
—

 
$
439.7

 
 
 
 
 
 
 
 
Gross Property Additions
$
1,419.5

 
$
—

 
$
—

 
$
1,419.5

 
 
 
 
 
 
 
 
Total Transmission Property
$
9,893.2

 
$
—

 
$
—

 
$
9,893.2

Accumulated Depreciation and Amortization
402.3

 
—

 
—

 
402.3

Total Transmission Property - Net
$
9,490.9

 
$
—

 
$
—

 
$
9,490.9

 
 
 
 
 
 
 
 
Notes Receivable - Affiliated
$
—

 
$
3,427.3

 
$
(3,427.3
)
(c)
$
—

 
 
 
 
 
 
 
 
Total Assets
$
9,865.0

 
$
3,519.1

(d)
$
(3,493.3
)
(e)
$
9,890.8

 
 
 
 
 
 
 
 
Total Long-Term Debt
$
3,465.0

 
$
3,427.3

 
$
(3,465.0
)
(c)
$
3,427.3

 
State Transcos
 
AEPTCo Parent
 
Reconciling Adjustments
 
AEPTCo
Consolidated
2018
(in millions)
Revenues from:
 
 
 
 
 
 
 
External Customers
$
177.0

 
$
—

 
$
—

 
$
177.0

Sales to AEP Affiliates
598.9

 
—

 
—

 
598.9

Other Revenues
0.2

 
—

 
—

 
0.2

Total Revenues
$
776.1

 
$
—

 
$
—

 
$
776.1

 
 
 
 
 
 
 
 
Depreciation and Amortization
$
133.9

 
$
—

 
$
—

 
$
133.9

Interest Income
1.3

 
104.6

 
(103.4
)
(a)
2.5

Allowance for Equity Funds Used During Construction
70.6

 
—

 
—

 
70.6

Interest Expense
83.2

 
103.4

 
(103.4
)
(a)
83.2

Income Tax Expense
83.9

 
0.2

 
—

 
84.1

 
 
 
 
 
 
 
 
Net Income
$
314.9

 
$
1.0

(b)
$
—

 
$
315.9

 
 
 
 
 
 
 
 
Gross Property Additions
$
1,570.8

 
$
—

 
$
—

 
$
1,570.8

 
 
 
 
 
 
 
 
Total Transmission Property
$
8,268.1

 
$
—

 
$
—

 
$
8,268.1

Accumulated Depreciation and Amortization
271.9

 
—

 
—

 
271.9

Total Transmission Property - Net
$
7,996.2

 
$
—

 
$
—

 
$
7,996.2

 
 
 
 
 
 
 
 
Notes Receivable - Affiliated
$
—

 
$
2,823.0

 
$
(2,823.0
)
(c)
$
—

 
 
 
 
 
 
 
 
Total Assets
$
8,406.8

 
$
2,857.1

(d)
$
(2,869.8
)
(e)
$
8,394.1

 
 
 
 
 
 
 
 
Total Long-Term Debt
$
2,850.0

 
$
2,823.0

 
$
(2,850.0
)
(c)
$
2,823.0

`

 
State Transcos
 
AEPTCo Parent
 
Reconciling Adjustments
 
AEPTCo
Consolidated
2017
(in millions)
Revenues from:
 
 
 
 
 
 
 
External Customers
$
138.0

 
$
—

 
$
—

 
$
138.0

Sales to AEP Affiliates
568.1

 
—

 
—

 
568.1

Other
0.8

 
—

 
—

 
0.8

Total Revenues
$
706.9

 
$
—

 
$
—

 
$
706.9

 
 
 
 
 
 
 
 
Depreciation and Amortization
$
95.7

 
$
—

 
$
—

 
$
95.7

Interest Income
0.7

 
82.9

 
(82.4
)
(a)
1.2

Allowance for Equity Funds Used During Construction
49.0

 
—

 
—

 
49.0

Interest Expense
70.2

 
82.4

 
(82.4
)
(a)
70.2

Income Tax Expense (Benefit)
142.0

 
0.2

 
—

 
142.2

 
 
 
 
 
 
 
 
Net Income (Loss)
$
270.4

 
$
0.3

(b)
$
—

 
$
270.7

 
 
 
 
 
 
 
 
Gross Property Additions
$
1,522.5

 
$
—

 
$
—

 
$
1,522.5

 
 
 
 
 
 
 
 
Total Assets
$
7,086.9

 
$
2,590.1

(d)
$
(2,594.9
)
(e)
$
7,082.1


(a)
Elimination of intercompany interest income/interest expense on affiliated debt arrangement.
(b)
Includes elimination of AEPTCo Parent’s equity earnings in the State Transcos.
(c)
Elimination of intercompany debt.
(d)
Includes elimination of AEPTCo Parent’s investments in the State Transcos.
(e)
Primarily relates to elimination of Notes Receivable from the State Transcos.
 
Vertically Integrated Utilities
 
Transmission and Distribution Utilities
 
AEP Transmission Holdco
 
Generation & Marketing
 
Corporate and Other (a)
 
Reconciling Adjustments
 
Consolidated
 
(in millions)
2019
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenues from:
 
 
 
 
 
 
 
 
 
 
 
 
 
External Customers
$
9,245.7

 
$
4,319.0

 
$
260.2

 
$
1,721.8

 
$
14.7

 
$
—

 
$
15,561.4

Other Operating Segments
121.4

 
163.5

 
813.0

 
135.8

 
81.1

 
(1,314.8
)
 
—

Total Revenues
$
9,367.1

 
$
4,482.5

 
$
1,073.2

 
$
1,857.6

 
$
95.8

 
$
(1,314.8
)
 
$
15,561.4

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Asset Impairments and Other Related Charges
$
92.9

 
$
32.5

 
$
—

 
$
31.0

 
$
—

 
$
—

 
$
156.4

Depreciation and Amortization
1,447.0

 
789.5

 
183.4

 
69.5

 
0.6

 
24.5

(b)
2,514.5

Interest Expense
568.3

 
243.3

 
103.3

 
30.0

 
193.7

 
(66.1
)
(b)
1,072.5

Income Tax Expense (Benefit)
(97.7
)
 
(25.2
)
 
136.2

 
(53.8
)
 
27.6

 
—

 
(12.9
)
Equity Earnings (Loss) of Unconsolidated Subsidiaries
3.0

 
—

 
72.8

 
(3.8
)
 
0.1

 
—

 
72.1

Net Income (Loss)
$
985.6

 
$
451.0

 
$
520.1

 
$
104.1

 
$
(141.0
)
 
$
—

 
$
1,919.8

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Gross Property Additions
$
2,437.4

 
$
2,074.3

 
$
1,458.9

 
$
1,005.1

 
$
14.5

 
$
(20.4
)
 
$
6,969.8

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total Property, Plant and Equipment
$
47,323.7

 
$
19,773.3

 
$
10,334.0

 
$
1,650.8

 
$
418.4

 
$
(354.5
)
(b)
$
79,145.7

Accumulated Depreciation and Amortization
14,580.4

 
3,911.2

 
418.9

 
99.0

 
184.5

 
(186.4
)
(b)
19,007.6

Total Property, Plant and Equipment – Net
$
32,743.3

 
$
15,862.1

 
$
9,915.1

 
$
1,551.8

 
$
233.9

 
$
(168.1
)
(b)
$
60,138.1

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total Assets
$
41,228.8

 
$
18,757.5

 
$
11,143.5

 
$
3,123.8

 
$
5,440.0

(c)
$
(3,801.3
)
(b) (d)
$
75,892.3

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Investments in Equity Method Investees
$
41.7

 
$
2.5

 
$
787.5

 
$
459.5

 
$
65.4

 
$
—

 
$
1,356.6

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Long-term Debt Due Within One Year:
 
 
 
 
 
 
 
 
 
 
 
 
 
Affiliated
$
20.0

 
$
—

 
$
—

 
$
—

 
$
—

 
$
(20.0
)
 
$
—

Nonaffiliated
704.7

 
392.2

 
—

 
—

 
501.8

(e)
—

 
1,598.7

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Long-term Debt:
 
 
 
 
 
 
 
 
 
 
 
 
 
Affiliated
39.0

 
—

 
—

 
—

 
—

 
(39.0
)
 
—

Nonaffiliated
12,162.0

 
6,248.1

 
3,593.8

 
—

 
3,122.9

(e)
—

 
25,126.8

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total Long-term Debt
$
12,925.7

 
$
6,640.3

 
$
3,593.8

 
$
—

 
$
3,624.7

 
$
(59.0
)
 
$
26,725.5

 
Vertically Integrated Utilities
 
Transmission and Distribution Utilities
 
AEP Transmission Holdco
 
Generation & Marketing
 
Corporate and Other (a)
 
Reconciling Adjustments
 
Consolidated
 
(in millions)
2018
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenues from:
 
 
 
 
 
 
 
 
 
 
 
 
 
External Customers
$
9,556.7

 
$
4,552.3

 
$
248.6

 
$
1,818.1

 
$
20.0

 
$
—

 
$
16,195.7

Other Operating Segments
88.8

 
100.8

 
555.5

 
122.2

 
75.1

 
(942.4
)
 
—

Total Revenues
$
9,645.5

 
$
4,653.1

 
$
804.1

 
$
1,940.3

 
$
95.1

 
$
(942.4
)
 
$
16,195.7

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Asset Impairments and Other Related Charges
$
3.4

 
$
—

 
$
—

 
$
47.7

 
$
19.5

 
$
—

 
$
70.6

Depreciation and Amortization
1,316.2

 
734.1

 
137.8

 
41.0

 
0.4

 
57.1

(b)
2,286.6

Interest Expense
567.8

 
248.1

 
90.7

 
14.9

 
122.6

 
(59.7
)
(b)
984.4

Income Tax Expense (Benefit)
5.7

 
42.4

 
95.3

 
(49.2
)
 
21.1

 
—

 
115.3

Equity Earnings of Unconsolidated Subsidiaries
2.7

 
—

 
68.7

 
0.5

 
1.2

 
—

 
73.1

Net Income (Loss)
$
995.5

 
$
527.4

 
$
373.0

 
$
134.7

 
$
(99.3
)
 
$
—

 
$
1,931.3

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Gross Property Additions
$
2,282.2

 
$
2,162.4

 
$
1,614.1

 
$
289.7

 
$
16.3

 
$
(39.2
)
 
$
6,325.5

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total Property, Plant and Equipment
$
45,365.1

 
$
18,126.7

 
$
8,659.5

 
$
893.3

 
$
395.2

 
$
(354.6
)
(b)
$
73,085.2

Accumulated Depreciation and Amortization
13,822.5

 
3,833.7

 
282.8

 
47.0

 
186.6

 
(186.5
)
(b)
17,986.1

Total Property, Plant and Equipment – Net
$
31,542.6

 
$
14,293.0

 
$
8,376.7

 
$
846.3

 
$
208.6

 
$
(168.1
)
(b)
$
55,099.1

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total Assets
$
38,874.3

 
$
17,083.4

 
$
9,543.7

 
$
1,979.7

 
$
4,036.5

(c)
$
(2,714.8
)
(b) (d)
$
68,802.8

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Investments in Equity Method Investees
$
39.6

 
$
2.9

 
$
750.9

 
$
26.7

 
$
26.1

 
$
—

 
$
846.2

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Long-term Debt Due Within One Year:
 
 
 
 
 
 
 
 
 
 
 
 
 
Nonaffiliated
$
1,066.3

 
$
549.1

 
$
85.0

 
$
0.1

 
$
(2.0
)
(e)
$
—

 
$
1,698.5

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Long-term Debt:
 
 
 
 
 
 
 
 
 
 
 
 
 
Affiliated
50.0

 
—

 
—

 
32.2

 
—

 
(82.2
)
 
—

Nonaffiliated
11,442.7

 
5,048.8

 
2,888.6

 
(0.3
)
 
2,268.4

 
—

 
21,648.2

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total Long-term Debt
$
12,559.0

 
$
5,597.9

 
$
2,973.6

 
$
32.0

 
$
2,266.4

(e)
$
(82.2
)
 
$
23,346.7

 
Vertically Integrated Utilities
 
Transmission and Distribution Utilities
 
AEP Transmission Holdco
 
Generation & Marketing
 
Corporate and Other(a)
 
Reconciling Adjustments
 
Consolidated
 
(in millions)
2017
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenues from:
 
 
 
 
 
 
 
 
 
 
 
 
 
External Customers
$
9,095.1

 
$
4,328.9

 
$
178.4

 
$
1,771.4

 
$
51.1

 
$
—

 
$
15,424.9

Other Operating Segments
96.9

 
90.4

 
588.3

 
103.7

 
69.7

 
(949.0
)
 
—

Total Revenues
$
9,192.0

 
$
4,419.3

 
$
766.7

 
$
1,875.1

 
$
120.8

 
$
(949.0
)
 
$
15,424.9

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Asset Impairments and Other Related Charges
$
33.6

 
$
—

 
$
—

 
$
53.5

 
$
—

 
$
—

 
$
87.1

Depreciation and Amortization
1,142.5

 
667.5

 
102.2

 
24.2

 
0.3

 
60.5

(b)
1,997.2

Interest Expense
540.0

 
244.1

 
72.8

 
18.5

 
63.9

 
(44.3
)
(b)
895.0

Income Tax Expense
425.6

 
127.2

 
189.8

 
189.7

 
37.4

 
—

 
969.7

Equity Earnings (Loss) of Unconsolidated Subsidiaries
$
(3.8
)
 
$
—

 
$
88.6

 
$
—

 
$
(2.4
)
 
$
—

 
$
82.4

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net Income (Loss)
$
803.3

 
$
636.4

 
$
355.6

 
$
166.0

 
$
(32.4
)
 
$
—

 
$
1,928.9

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Gross Property Additions
$
2,343.2

 
$
1,558.4

 
$
1,542.8

 
$
328.5

 
$
15.6

 
$
(90.4
)
 
$
5,698.1

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total Assets
$
37,579.7

 
$
16,060.7

 
$
8,141.8

 
$
2,009.8

 
$
3,959.1

(c)
$
(3,022.0
)
(b) (d)
$
64,729.1


(a)
Corporate and Other primarily includes the purchasing of receivables from certain AEP utility subsidiaries. This segment also includes Parent’s guarantee revenue received from affiliates, investment income, interest income, interest expense and other nonallocated costs.
(b)
Includes eliminations due to an intercompany finance lease.
(c)
Includes elimination of AEP Parent’s investments in wholly-owned subsidiary companies.
(d)
Reconciling Adjustments for Total Assets primarily include elimination of intercompany advances to affiliates and intercompany accounts receivable.
(e)
Amounts reflect the impact of fair value hedge accounting. See “Accounting for Fair Value Hedging Strategies” section of Note 10 for additional information.