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Benefit Plans
 3 Months Ended
Mar. 31, 2020
Benefit Plans BENEFIT PLANS

The disclosures in this note apply to all Registrants except AEPTCo unless indicated otherwise.

AEP sponsors a qualified pension plan and two unfunded nonqualified pension plans.  Substantially all AEP employees are covered by the qualified plan or both the qualified and a nonqualified pension plan.  AEP also sponsors OPEB plans to provide health and life insurance benefits for retired employees.

Components of Net Periodic Benefit Cost

The following tables provide the components of net periodic benefit cost (credit) by Registrant for the plans:

AEP
 
Pension Plans
 
OPEB
 
Three Months Ended March 31,
 
Three Months Ended March 31,
 
2020
 
2019
 
2020
 
2019
 
(in millions)
Service Cost
$
28.0

 
$
23.9

 
$
2.5

 
$
2.4

Interest Cost
42.0

 
51.1

 
9.9

 
12.6

Expected Return on Plan Assets
(66.2
)
 
(74.0
)
 
(23.9
)
 
(23.4
)
Amortization of Prior Service Credit
—

 
—

 
(17.4
)
 
(17.3
)
Amortization of Net Actuarial Loss
23.4

 
14.4

 
1.5

 
5.5

Net Periodic Benefit Cost (Credit)
$
27.2

 
$
15.4

 
$
(27.4
)
 
$
(20.2
)


AEP Texas
 
Pension Plans
 
OPEB
 
Three Months Ended March 31,
 
Three Months Ended March 31,
 
2020
 
2019
 
2020
 
2019
 
(in millions)
Service Cost
$
2.6

 
$
2.1

 
$
0.2

 
$
0.2

Interest Cost
3.5

 
4.4

 
0.8

 
1.0

Expected Return on Plan Assets
(5.7
)
 
(6.4
)
 
(2.0
)
 
(2.0
)
Amortization of Prior Service Credit
—

 
—

 
(1.4
)
 
(1.5
)
Amortization of Net Actuarial Loss
1.9

 
1.2

 
0.1

 
0.5

Net Periodic Benefit Cost (Credit)
$
2.3

 
$
1.3

 
$
(2.3
)
 
$
(1.8
)

APCo
 
Pension Plans
 
OPEB
 
Three Months Ended March 31,
 
Three Months Ended March 31,
 
2020

2019
 
2020
 
2019
 
(in millions)
Service Cost
$
2.6

 
$
2.4

 
$
0.3

 
$
0.3

Interest Cost
5.1

 
6.3

 
1.6

 
2.2

Expected Return on Plan Assets
(8.4
)
 
(9.4
)
 
(3.6
)
 
(3.7
)
Amortization of Prior Service Credit
—

 
—

 
(2.5
)
 
(2.5
)
Amortization of Net Actuarial Loss
2.8

 
1.8

 
0.2

 
0.9

Net Periodic Benefit Cost (Credit)
$
2.1

 
$
1.1

 
$
(4.0
)
 
$
(2.8
)


I&M
 
Pension Plans
 
OPEB
 
Three Months Ended March 31,
 
Three Months Ended March 31,
 
2020
 
2019
 
2020
 
2019
 
(in millions)
Service Cost
$
3.9

 
$
3.4

 
$
0.3

 
$
0.3

Interest Cost
4.9

 
6.0

 
1.2

 
1.5

Expected Return on Plan Assets
(8.3
)
 
(9.2
)
 
(2.9
)
 
(2.8
)
Amortization of Prior Service Credit
—

 
—

 
(2.4
)
 
(2.4
)
Amortization of Net Actuarial Loss
2.7

 
1.6

 
0.2

 
0.7

Net Periodic Benefit Cost (Credit)
$
3.2

 
$
1.8

 
$
(3.6
)
 
$
(2.7
)

OPCo
 
Pension Plans
 
OPEB
 
Three Months Ended March 31,
 
Three Months Ended March 31,
 
2020
 
2019
 
2020
 
2019
 
(in millions)
Service Cost
$
2.4

 
$
2.0

 
$
0.2

 
$
0.2

Interest Cost
3.9

 
4.7

 
1.0

 
1.4

Expected Return on Plan Assets
(6.6
)
 
(7.3
)
 
(2.6
)
 
(2.7
)
Amortization of Prior Service Credit
—

 
—

 
(1.8
)
 
(1.7
)
Amortization of Net Actuarial Loss
2.1

 
1.3

 
0.2

 
0.6

Net Periodic Benefit Cost (Credit)
$
1.8

 
$
0.7

 
$
(3.0
)
 
$
(2.2
)

PSO
 
Pension Plans
 
OPEB
 
Three Months Ended March 31,
 
Three Months Ended March 31,
 
2020
 
2019
 
2020
 
2019
 
(in millions)
Service Cost
$
1.8

 
$
1.6

 
$
0.2

 
$
0.2

Interest Cost
2.1

 
2.6

 
0.5

 
0.7

Expected Return on Plan Assets
(3.6
)
 
(4.1
)
 
(1.3
)
 
(1.3
)
Amortization of Prior Service Credit
—

 
—

 
(1.1
)
 
(1.1
)
Amortization of Net Actuarial Loss
1.2

 
0.8

 
0.1

 
0.3

Net Periodic Benefit Cost (Credit)
$
1.5

 
$
0.9

 
$
(1.6
)
 
$
(1.2
)


SWEPCo
 
Pension Plans
 
OPEB
 
Three Months Ended March 31,
 
Three Months Ended March 31,
 
2020
 
2019
 
2020
 
2019
 
(in millions)
Service Cost
$
2.5

 
$
2.1

 
$
0.2

 
$
0.2

Interest Cost
2.5

 
3.1

 
0.6

 
0.8

Expected Return on Plan Assets
(3.9
)
 
(4.4
)
 
(1.5
)
 
(1.5
)
Amortization of Prior Service Credit
—

 
—

 
(1.3
)
 
(1.3
)
Amortization of Net Actuarial Loss
1.4

 
0.9

 
0.1

 
0.3

Net Periodic Benefit Cost (Credit)
$
2.5

 
$
1.7

 
$
(1.9
)
 
$
(1.5
)