Comprehensive Income |
COMPREHENSIVE INCOME The disclosures in this note apply to all Registrants except for AEPTCo. AEPTCo does not have any components of other comprehensive income for any period presented in the financial statements.
Presentation of Comprehensive Income
The following tables provide the components of changes in AOCI and details of reclassifications from AOCI for the years ended December 31, 2020, 2019 and 2018. The amortization of pension and OPEB AOCI components are included in the computation of net periodic pension and OPEB costs. See Note 8 - Benefit Plans for additional information. | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | AEP | | | | | | | | | | | | | | | | | | | | | | | | Cash Flow Hedges | | Pension and OPEB | | | For the Year Ended December 31, 2020 | | Commodity | | Interest Rate | | Amortization of Deferred Costs | | Changes in Funded Status | | Total | | | (in millions) | Balance in AOCI as of December 31, 2019 | | $ | (103.5) | | | $ | (11.5) | | | $ | 130.7 | | | $ | (163.4) | | | $ | (147.7) | | Change in Fair Value Recognized in AOCI | | (89.2) | | | (39.9) | | (a) | — | | | 62.7 | | | (66.4) | | Amount of (Gain) Loss Reclassified from AOCI | | | | | | | | | | | Generation & Marketing Revenues (b) | | (0.4) | | | — | | | — | | | — | | | (0.4) | | Purchased Electricity for Resale (b) | | 167.6 | | | — | | | — | | | — | | | 167.6 | | Interest Expense (b) | | — | | | 4.9 | | | — | | | — | | | 4.9 | | Amortization of Prior Service Cost (Credit) | | — | | | — | | | (19.2) | | | — | | | (19.2) | | Amortization of Actuarial (Gains) Losses | | — | | | — | | | 10.3 | | | — | | | 10.3 | | Reclassifications from AOCI, before Income Tax (Expense) Benefit | | 167.2 | | | 4.9 | | | (8.9) | | | — | | | 163.2 | | Income Tax (Expense) Benefit | | 35.1 | | | 1.0 | | | (1.9) | | | — | | | 34.2 | | Reclassifications from AOCI, Net of Income Tax (Expense) Benefit | | 132.1 | | | 3.9 | | | (7.0) | | | — | | | 129.0 | | Net Current Period Other Comprehensive Income (Loss) | | 42.9 | | | (36.0) | | | (7.0) | | | 62.7 | | | 62.6 | | Balance in AOCI as of December 31, 2020 | | $ | (60.6) | | | $ | (47.5) | | | $ | 123.7 | | | $ | (100.7) | | | $ | (85.1) | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | AEP | | | | | | | | | | | | | | | | | | | | | | | | | | | | Cash Flow Hedges | | | | Pension and OPEB | | | For the Year Ended December 31, 2019 | | Commodity | | Interest Rate | | | | Amortization of Deferred Costs | | Changes in Funded Status | | Total | | | (in millions) | Balance in AOCI as of December 31, 2018 | | $ | (23.0) | | | $ | (12.6) | | | | | $ | 136.3 | | | $ | (221.1) | | | $ | (120.4) | | Change in Fair Value Recognized in AOCI | | (127.2) | | | (0.2) | | (a) | | | — | | | 57.7 | | | (69.7) | | Amount of (Gain) Loss Reclassified from AOCI | | | | | | | | | | | | | Generation & Marketing Revenues (b) | | (0.2) | | | — | | | | | — | | | — | | | (0.2) | | Purchased Electricity for Resale (b) | | 59.5 | | | — | | | | | — | | | — | | | 59.5 | | Interest Expense (b) | | — | | | 1.5 | | | | | — | | | — | | | 1.5 | | Amortization of Prior Service Cost (Credit) | | — | | | — | | | | | (19.2) | | | — | | | (19.2) | | Amortization of Actuarial (Gains) Losses | | — | | | — | | | | | 12.1 | | | — | | | 12.1 | | Reclassifications from AOCI, before Income Tax (Expense) Benefit | | 59.3 | | | 1.5 | | | | | (7.1) | | | — | | | 53.7 | | Income Tax (Expense) Benefit | | 12.6 | | | 0.2 | | | | | (1.5) | | | — | | | 11.3 | | Reclassifications from AOCI, Net of Income Tax (Expense) Benefit | | 46.7 | | | 1.3 | | | | | (5.6) | | | — | | | 42.4 | | Net Current Period Other Comprehensive Income (Loss) | | (80.5) | | | 1.1 | | | | | (5.6) | | | 57.7 | | | (27.3) | | | | | | | | | | | | | | | | | | | | | | | | | | | | Balance in AOCI as of December 31, 2019 | | $ | (103.5) | | | $ | (11.5) | | | | | $ | 130.7 | | | $ | (163.4) | | | $ | (147.7) | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Cash Flow Hedges | | | | Pension and OPEB | | | For the Year Ended December 31, 2018 | | Commodity | | Interest Rate | | Securities Available for Sale | | Amortization of Deferred Costs | | Changes in Funded Status | | Total | | | (in millions) | Balance in AOCI as of December 31, 2017 | | $ | (28.4) | | | $ | (13.0) | | | $ | 11.9 | | | $ | 141.6 | | | $ | (179.9) | | | $ | (67.8) | | Change in Fair Value Recognized in AOCI | | 37.3 | | | 2.3 | | | — | | | — | | | (33.0) | | | 6.6 | | Amount of (Gain) Loss Reclassified from AOCI | | | | | | | | | | | | | Generation & Marketing Revenues (b) | | (0.1) | | | — | | | — | | | — | | | — | | | (0.1) | | Purchased Electricity for Resale (b) | | (32.6) | | | — | | | — | | | — | | | — | | | (32.6) | | Interest Expense (b) | | — | | | 1.1 | | | — | | | — | | | — | | | 1.1 | | Amortization of Prior Service Cost (Credit) | | — | | | — | | | — | | | (19.5) | | | — | | | (19.5) | | Amortization of Actuarial (Gains) Losses | | — | | | — | | | — | | | 12.8 | | | — | | | 12.8 | | Reclassifications from AOCI, before Income Tax (Expense) Benefit | | (32.7) | | | 1.1 | | | — | | | (6.7) | | | — | | | (38.3) | | Income Tax (Expense) Benefit | | (6.9) | | | 0.3 | | | — | | | (1.4) | | | — | | | (8.0) | | Reclassifications from AOCI, Net of Income Tax (Expense) Benefit | | (25.8) | | | 0.8 | | | — | | | (5.3) | | | — | | | (30.3) | | Net Current Period Other Comprehensive Income (Loss) | | 11.5 | | | 3.1 | | | — | | | (5.3) | | | (33.0) | | | (23.7) | | ASU 2018-02 Adoption | | (6.1) | | | (2.7) | | | — | | | — | | | (8.2) | | | (17.0) | | ASU 2016-01 Adoption | | — | | | — | | | (11.9) | | | — | | | — | | | (11.9) | | Balance in AOCI as of December 31, 2018 | | $ | (23.0) | | | $ | (12.6) | | | $ | — | | | $ | 136.3 | | | $ | (221.1) | | | $ | (120.4) | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | AEP Texas | | | | | | | | | | | | | | | | | | | | | | | | | | | | Pension and OPEB | | | | | | | | | Amortization | | Changes in | | | | | | | Cash Flow Hedge – | | of Deferred | | Funded | | | For the Year Ended December 31, 2020 | | | | Interest Rate | | Costs | | Status | | Total | | | | (in millions) | Balance in AOCI as of December 31, 2019 | | | | $ | (3.4) | | | $ | 4.9 | | | $ | (14.3) | | | $ | (12.8) | | Change in Fair Value Recognized in AOCI | | | | 0.1 | | | — | | | 2.6 | | | 2.7 | | Amount of (Gain) Loss Reclassified from AOCI | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Interest Expense (b) | | | | 1.3 | | | — | | | — | | | 1.3 | | Amortization of Prior Service Cost (Credit) | | | | — | | | (0.1) | | | — | | | (0.1) | | Amortization of Actuarial (Gains) Losses | | | | — | | | 0.3 | | | — | | | 0.3 | | Reclassifications from AOCI, before Income Tax (Expense) Benefit | | | | 1.3 | | | 0.2 | | | — | | | 1.5 | | Income Tax (Expense) Benefit | | | | 0.3 | | | — | | | — | | | 0.3 | | Reclassifications from AOCI, Net of Income Tax (Expense) Benefit | | | | 1.0 | | | 0.2 | | | — | | | 1.2 | | Net Current Period Other Comprehensive Income (Loss) | | | | 1.1 | | | 0.2 | | | 2.6 | | | 3.9 | | Balance in AOCI as of December 31, 2020 | | | | $ | (2.3) | | | $ | 5.1 | | | $ | (11.7) | | | $ | (8.9) | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Pension and OPEB | | | | | | | | | Amortization | | Changes in | | | | | | | Cash Flow Hedge – | | of Deferred | | Funded | | | For the Year Ended December 31, 2019 | | | | Interest Rate | | Costs | | Status | | Total | | | | (in millions) | Balance in AOCI as of December 31, 2018 | | | | $ | (4.4) | | | $ | 4.7 | | | $ | (15.4) | | | $ | (15.1) | | Change in Fair Value Recognized in AOCI | | | | — | | | — | | | 1.1 | | | 1.1 | | Amount of (Gain) Loss Reclassified from AOCI | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Interest Expense (b) | | | | 1.3 | | | — | | | — | | | 1.3 | | Amortization of Prior Service Cost (Credit) | | | | — | | | (0.1) | | | — | | | (0.1) | | Amortization of Actuarial (Gains) Losses | | | | — | | | 0.3 | | | — | | | 0.3 | | Reclassifications from AOCI, before Income Tax (Expense) Benefit | | | | 1.3 | | | 0.2 | | | — | | | 1.5 | | Income Tax (Expense) Benefit | | | | 0.3 | | | — | | | — | | | 0.3 | | Reclassifications from AOCI, Net of Income Tax (Expense) Benefit | | | | 1.0 | | | 0.2 | | | — | | | 1.2 | | Net Current Period Other Comprehensive Income (Loss) | | | | 1.0 | | | 0.2 | | | 1.1 | | | 2.3 | | ASU 2018-02 Adoption | | | | — | | | — | | | — | | | — | | Balance in AOCI as of December 31, 2019 | | | | $ | (3.4) | | | $ | 4.9 | | | $ | (14.3) | | | $ | (12.8) | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Pension and OPEB | | | | | | | | | Amortization | | Changes in | | | | | | | Cash Flow Hedge – | | of Deferred | | Funded | | | For the Year Ended December 31, 2018 | | | | Interest Rate | | Costs | | Status | | Total | | | | (in millions) | Balance in AOCI as of December 31, 2017 | | | | $ | (4.5) | | | $ | 4.5 | | | $ | (12.6) | | | $ | (12.6) | | Change in Fair Value Recognized in AOCI | | | | — | | | — | | | (1.0) | | | (1.0) | | Amount of (Gain) Loss Reclassified from AOCI | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Interest Expense (b) | | | | 1.3 | | | — | | | — | | | 1.3 | | Amortization of Prior Service Cost (Credit) | | | | — | | | (0.1) | | | — | | | (0.1) | | Amortization of Actuarial (Gains) Losses | | | | — | | | 0.4 | | | — | | | 0.4 | | Reclassifications from AOCI, before Income Tax (Expense) Benefit | | | | 1.3 | | | 0.3 | | | — | | | 1.6 | | Income Tax (Expense) Benefit | | | | 0.3 | | | 0.1 | | | — | | | 0.4 | | Reclassifications from AOCI, Net of Income Tax (Expense) Benefit | | | | 1.0 | | | 0.2 | | | — | | | 1.2 | | Net Current Period Other Comprehensive Income (Loss) | | | | 1.0 | | | 0.2 | | | (1.0) | | | 0.2 | | ASU 2018-02 Adoption | | | | (0.9) | | | — | | | (1.8) | | | (2.7) | | Balance in AOCI as of December 31, 2018 | | | | $ | (4.4) | | | $ | 4.7 | | | $ | (15.4) | | | $ | (15.1) | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | APCo | | | | | | | | | | | | | | | | | | | | | | | | | | | | Pension and OPEB | | | | | | | | | Amortization | | Changes in | | | | | | | Cash Flow Hedge – | | of Deferred | | Funded | | | For the Year Ended December 31, 2020 | | | | Interest Rate | | Costs | | Status | | Total | | | | (in millions) | Balance in AOCI as of December 31, 2019 | | | | $ | 0.9 | | | $ | 9.2 | | | $ | (5.1) | | | $ | 5.0 | | Change in Fair Value Recognized in AOCI | | | | (0.7) | | | — | | | 7.7 | | | 7.0 | | Amount of (Gain) Loss Reclassified from AOCI | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Interest Expense (b) | | | | (1.3) | | | — | | | — | | | (1.3) | | Amortization of Prior Service Cost (Credit) | | | | — | | | (5.3) | | | — | | | (5.3) | | Amortization of Actuarial (Gains) Losses | | | | — | | | 0.5 | | | — | | | 0.5 | | Reclassifications from AOCI, before Income Tax (Expense) Benefit | | | | (1.3) | | | (4.8) | | | — | | | (6.1) | | Income Tax (Expense) Benefit | | | | (0.3) | | | (1.0) | | | — | | | (1.3) | | Reclassifications from AOCI, Net of Income Tax (Expense) Benefit | | | | (1.0) | | | (3.8) | | | — | | | (4.8) | | Net Current Period Other Comprehensive Income (Loss) | | | | (1.7) | | | (3.8) | | | 7.7 | | | 2.2 | | Balance in AOCI as of December 31, 2020 | | | | $ | (0.8) | | | $ | 5.4 | | | $ | 2.6 | | | $ | 7.2 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Pension and OPEB | | | | | | | | | Amortization | | Changes in | | | | | | | Cash Flow Hedges - | | of Deferred | | Funded | | | For the Year Ended December 31, 2019 | | | | Interest Rate | | Costs | | Status | | Total | | | | | (in millions) | Balance in AOCI as of December 31, 2018 | | | | $ | 1.8 | | | $ | 11.7 | | | $ | (18.5) | | | $ | (5.0) | | Change in Fair Value Recognized in AOCI | | | | — | | | — | | | 13.4 | | | 13.4 | | Amount of (Gain) Loss Reclassified from AOCI | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Interest Expense (b) | | | | (1.1) | | | — | | | — | | | (1.1) | | Amortization of Prior Service Cost (Credit) | | | | — | | | (5.3) | | | — | | | (5.3) | | Amortization of Actuarial (Gains) Losses | | | | — | | | 2.1 | | | — | | | 2.1 | | Reclassifications from AOCI, before Income Tax (Expense) Benefit | | | | (1.1) | | | (3.2) | | | — | | | (4.3) | | Income Tax (Expense) Benefit | | | | (0.2) | | | (0.7) | | | — | | | (0.9) | | Reclassifications from AOCI, Net of Income Tax (Expense) Benefit | | | | (0.9) | | | (2.5) | | | — | | | (3.4) | | Net Current Period Other Comprehensive Income (Loss) | | | | (0.9) | | | (2.5) | | | 13.4 | | | 10.0 | | | | | | | | | | | | | Balance in AOCI as of December 31, 2019 | | | | $ | 0.9 | | | $ | 9.2 | | | $ | (5.1) | | | $ | 5.0 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Pension and OPEB | | | | | | | | | Amortization | | Changes in | | | | | Cash Flow Hedges | | of Deferred | | Funded | | | For the Year Ended December 31, 2018 | | Commodity | | Interest Rate | | Costs | | Status | | Total | | | (in millions) | Balance in AOCI as of December 31, 2017 | | $ | — | | | $ | 2.2 | | | $ | 14.8 | | | $ | (15.7) | | | $ | 1.3 | | Change in Fair Value Recognized in AOCI | | (0.7) | | | — | | | — | | | (2.6) | | | (3.3) | | Amount of (Gain) Loss Reclassified from AOCI | | | | | | | | | | | | | | | | | | | | | | Purchased Electricity for Resale (b) | | 0.9 | | | — | | | — | | | — | | | 0.9 | | Interest Expense (b) | | — | | | (1.1) | | | — | | | — | | | (1.1) | | Amortization of Prior Service Cost (Credit) | | — | | | — | | | (5.2) | | | — | | | (5.2) | | Amortization of Actuarial (Gains) Losses | | — | | | — | | | 1.3 | | | — | | | 1.3 | | Reclassifications from AOCI, before Income Tax (Expense) Benefit | | 0.9 | | | (1.1) | | | (3.9) | | | — | | | (4.1) | | Income Tax (Expense) Benefit | | 0.2 | | | (0.2) | | | (0.8) | | | — | | | (0.8) | | Reclassifications from AOCI, Net of Income Tax (Expense) Benefit | | 0.7 | | | (0.9) | | | (3.1) | | | — | | | (3.3) | | Net Current Period Other Comprehensive Income (Loss) | | — | | | (0.9) | | | (3.1) | | | (2.6) | | | (6.6) | | ASU 2018-02 Adoption | | — | | | 0.5 | | | — | | | (0.2) | | | 0.3 | | Balance in AOCI as of December 31, 2018 | | $ | — | | | $ | 1.8 | | | $ | 11.7 | | | $ | (18.5) | | | $ | (5.0) | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | I&M | | | | | | | | | | | | | | | | | | | | | | | | | | | | Pension and OPEB | | | | | | | | | Amortization | | Changes in | | | | | | | Cash Flow Hedge – | | of Deferred | | Funded | | | For the Year Ended December 31, 2020 | | | | Interest Rate | | Costs | | Status | | Total | | | | | (in millions) | Balance in AOCI as of December 31, 2019 | | | | $ | (9.9) | | | $ | 4.9 | | | $ | (6.6) | | | $ | (11.6) | | Change in Fair Value Recognized in AOCI | | | | — | | | — | | | 3.1 | | | 3.1 | | Amount of (Gain) Loss Reclassified from AOCI | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Interest Expense (b) | | | | 2.0 | | | — | | | — | | | 2.0 | | Amortization of Prior Service Cost (Credit) | | | | — | | | (0.8) | | | — | | | (0.8) | | Amortization of Actuarial (Gains) Losses | | | | — | | | 0.7 | | | — | | | 0.7 | | Reclassifications from AOCI, before Income Tax (Expense) Benefit | | | | 2.0 | | | (0.1) | | | — | | | 1.9 | | Income Tax (Expense) Benefit | | | | 0.4 | | | — | | | — | | | 0.4 | | Reclassifications from AOCI, Net of Income Tax (Expense) Benefit | | | | 1.6 | | | (0.1) | | | — | | | 1.5 | | Net Current Period Other Comprehensive Income (Loss) | | | | 1.6 | | | (0.1) | | | 3.1 | | | 4.6 | | Balance in AOCI as of December 31, 2020 | | | | $ | (8.3) | | | $ | 4.8 | | | $ | (3.5) | | | $ | (7.0) | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Pension and OPEB | | | | | | | | | Amortization | | Changes in | | | | | | | Cash Flow Hedge – | | of Deferred | | Funded | | | For the Year Ended December 31, 2019 | | | | Interest Rate | | Costs | | Status | | Total | | | | | (in millions) | Balance in AOCI as of December 31, 2018 | | | | $ | (11.5) | | | $ | 5.1 | | | $ | (7.4) | | | $ | (13.8) | | Change in Fair Value Recognized in AOCI | | | | — | | | — | | | 0.8 | | | 0.8 | | Amount of (Gain) Loss Reclassified from AOCI | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Interest Expense (b) | | | | 2.0 | | | — | | | — | | | 2.0 | | Amortization of Prior Service Cost (Credit) | | | | — | | | (0.8) | | | — | | | (0.8) | | Amortization of Actuarial (Gains) Losses | | | | — | | | 0.6 | | | — | | | 0.6 | | Reclassifications from AOCI, before Income Tax (Expense) Benefit | | | | 2.0 | | | (0.2) | | | — | | | 1.8 | | Income Tax (Expense) Benefit | | | | 0.4 | | | — | | | — | | | 0.4 | | Reclassifications from AOCI, Net of Income Tax (Expense) Benefit | | | | 1.6 | | | (0.2) | | | — | | | 1.4 | | Net Current Period Other Comprehensive Income (Loss) | | | | 1.6 | | | (0.2) | | | 0.8 | | | 2.2 | | | | | | | | | | | | | Balance in AOCI as of December 31, 2019 | | | | $ | (9.9) | | | $ | 4.9 | | | $ | (6.6) | | | $ | (11.6) | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Pension and OPEB | | | | | | | | | Amortization | | Changes in | | | | | | | Cash Flow Hedge – | | of Deferred | | Funded | | | For the Year Ended December 31, 2018 | | | | Interest Rate | | Costs | | Status | | Total | | | | | (in millions) | Balance in AOCI as of December 31, 2017 | | | | $ | (10.7) | | | $ | 5.1 | | | $ | (6.5) | | | $ | (12.1) | | Change in Fair Value Recognized in AOCI | | | | — | | | — | | | (0.6) | | | (0.6) | | Amount of (Gain) Loss Reclassified from AOCI | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Interest Expense (b) | | | | 2.0 | | | — | | | — | | | 2.0 | | Amortization of Prior Service Cost (Credit) | | | | — | | | (0.8) | | | — | | | (0.8) | | Amortization of Actuarial (Gains) Losses | | | | — | | | 0.8 | | | — | | | 0.8 | | Reclassifications from AOCI, before Income Tax (Expense) Benefit | | | | 2.0 | | | — | | | — | | | 2.0 | | Income Tax (Expense) Benefit | | | | 0.4 | | | — | | | — | | | 0.4 | | Reclassifications from AOCI, Net of Income Tax (Expense) Benefit | | | | 1.6 | | | — | | | — | | | 1.6 | | Net Current Period Other Comprehensive Income (Loss) | | | | 1.6 | | | — | | | (0.6) | | | 1.0 | | ASU 2018-02 Adoption | | | | (2.4) | | | — | | | (0.3) | | | (2.7) | | Balance in AOCI as of December 31, 2018 | | | | $ | (11.5) | | | $ | 5.1 | | | $ | (7.4) | | | $ | (13.8) | |
OPCo | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Cash Flow Hedge – | | | | | | | For the Year Ended December 31, 2020 | | | | Interest Rate | | | | | | | | | | | (in millions) | Balance in AOCI as of December 31, 2019 | | | | $ | — | | | | | | | | Change in Fair Value Recognized in AOCI | | | | — | | | | | | | | Amount of (Gain) Loss Reclassified from AOCI | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Interest Expense (b) | | | | — | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Reclassifications from AOCI, before Income Tax (Expense) Benefit | | | | — | | | | | | | | Income Tax (Expense) Benefit | | | | — | | | | | | | | Reclassifications from AOCI, Net of Income Tax (Expense) Benefit | | | | — | | | | | | | | Net Current Period Other Comprehensive Income (Loss) | | | | — | | | | | | | | Balance in AOCI as of December 31, 2020 | | | | $ | — | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Cash Flow Hedge – | | | | | | | For the Year Ended December 31, 2019 | | | | Interest Rate | | | | | | | | | | | (in millions) | Balance in AOCI as of December 31, 2018 | | | | $ | 1.0 | | | | | | | | Change in Fair Value Recognized in AOCI | | | | — | | | | | | | | Amount of (Gain) Loss Reclassified from AOCI | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Interest Expense (b) | | | | (1.3) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Reclassifications from AOCI, before Income Tax (Expense) Benefit | | | | (1.3) | | | | | | | | Income Tax (Expense) Benefit | | | | (0.3) | | | | | | | | Reclassifications from AOCI, Net of Income Tax (Expense) Benefit | | | | (1.0) | | | | | | | | Net Current Period Other Comprehensive Income (Loss) | | | | (1.0) | | | | | | | | | | | | | | | | | | | Balance in AOCI as of December 31, 2019 | | | | $ | — | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Cash Flow Hedge – | | | | | | | For the Year Ended December 31, 2018 | | | | Interest Rate | | | | | | | | | | | (in millions) | Balance in AOCI as of December 31, 2017 | | | | $ | 1.9 | | | | | | | | Change in Fair Value Recognized in AOCI | | | | — | | | | | | | | Amount of (Gain) Loss Reclassified from AOCI | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Interest Expense (b) | | | | (1.7) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Reclassifications from AOCI, before Income Tax (Expense) Benefit | | | | (1.7) | | | | | | | | Income Tax (Expense) Benefit | | | | (0.4) | | | | | | | | Reclassifications from AOCI, Net of Income Tax (Expense) Benefit | | | | (1.3) | | | | | | | | Net Current Period Other Comprehensive Income (Loss) | | | | (1.3) | | | | | | | | ASU 2018-02 Adoption | | | | 0.4 | | | | | | | | Balance in AOCI as of December 31, 2018 | | | | $ | 1.0 | | | | | | | |
PSO | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Cash Flow Hedge – | | | | | | | For the Year Ended December 31, 2020 | | | | Interest Rate | | | | | | | | | | | (in millions) | Balance in AOCI as of December 31, 2019 | | | | $ | 1.1 | | | | | | | | Change in Fair Value Recognized in AOCI | | | | — | | | | | | | | Amount of (Gain) Loss Reclassified from AOCI | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Interest Expense (b) | | | | (1.3) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Reclassifications from AOCI, before Income Tax (Expense) Benefit | | | | (1.3) | | | | | | | | Income Tax (Expense) Benefit | | | | (0.3) | | | | | | | | Reclassifications from AOCI, Net of Income Tax (Expense) Benefit | | | | (1.0) | | | | | | | | Net Current Period Other Comprehensive Income (Loss) | | | | (1.0) | | | | | | | | Balance in AOCI as of December 31, 2020 | | | | $ | 0.1 | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Cash Flow Hedge – | | | | | | | For the Year Ended December 31, 2019 | | | | Interest Rate | | | | | | | | | | | (in millions) | Balance in AOCI as of December 31, 2018 | | | | $ | 2.1 | | | | | | | | Change in Fair Value Recognized in AOCI | | | | — | | | | | | | | Amount of (Gain) Loss Reclassified from AOCI | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Interest Expense (b) | | | | (1.3) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Reclassifications from AOCI, before Income Tax (Expense) Benefit | | | | (1.3) | | | | | | | | Income Tax (Expense) Benefit | | | | (0.3) | | | | | | | | Reclassifications from AOCI, Net of Income Tax (Expense) Benefit | | | | (1.0) | | | | | | | | Net Current Period Other Comprehensive Income (Loss) | | | | (1.0) | | | | | | | | | | | | | | | | | | | Balance in AOCI as of December 31, 2019 | | | | $ | 1.1 | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Cash Flow Hedge – | | | | | | | For the Year Ended December 31, 2018 | | | | Interest Rate | | | | | | | | | | | (in millions) | Balance in AOCI as of December 31, 2017 | | | | $ | 2.6 | | | | | | | | Change in Fair Value Recognized in AOCI | | | | — | | | | | | | | Amount of (Gain) Loss Reclassified from AOCI | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Interest Expense (b) | | | | (1.3) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Reclassifications from AOCI, before Income Tax (Expense) Benefit | | | | (1.3) | | | | | | | | Income Tax (Expense) Benefit | | | | (0.3) | | | | | | | | Reclassifications from AOCI, Net of Income Tax (Expense) Benefit | | | | (1.0) | | | | | | | | Net Current Period Other Comprehensive Income (Loss) | | | | (1.0) | | | | | | | | ASU 2018-02 Adoption | | | | 0.5 | | | | | | | | Balance in AOCI as of December 31, 2018 | | | | $ | 2.1 | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | SWEPCo | | | | | | | | | | | | | | | | | | | | | | | | | | | | Pension and OPEB | | | | | | | | | Amortization | | Changes in | | | | | | | Cash Flow Hedge – | | of Deferred | | Funded | | | For the Year Ended December 31, 2020 | | | | Interest Rate | | Costs | | Status | | Total | | | | | (in millions) | Balance in AOCI as of December 31, 2019 | | | | $ | (1.8) | | | $ | (1.3) | | | $ | 1.8 | | | $ | (1.3) | | Change in Fair Value Recognized in AOCI | | | | — | | | — | | | 3.2 | | | 3.2 | | Amount of (Gain) Loss Reclassified from AOCI | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Interest Expense (b) | | | | 1.9 | | | — | | | — | | | 1.9 | | Amortization of Prior Service Cost (Credit) | | | | — | | | (2.0) | | | — | | | (2.0) | | Amortization of Actuarial (Gains) Losses | | | | — | | | 0.1 | | | — | | | 0.1 | | Reclassifications from AOCI, before Income Tax (Expense) Benefit | | | | 1.9 | | | (1.9) | | | — | | | — | | Income Tax (Expense) Benefit | | | | 0.4 | | | (0.4) | | | — | | | — | | Reclassifications from AOCI, Net of Income Tax (Expense) Benefit | | | | 1.5 | | | (1.5) | | | — | | | — | | Net Current Period Other Comprehensive Income (Loss) | | | | 1.5 | | | (1.5) | | | 3.2 | | | 3.2 | | Balance in AOCI as of December 31, 2020 | | | | $ | (0.3) | | | $ | (2.8) | | | $ | 5.0 | | | $ | 1.9 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Pension and OPEB | | | | | | | | | Amortization | | Changes in | | | | | | | Cash Flow Hedge – | | of Deferred | | Funded | | | For the Year Ended December 31, 2019 | | | | Interest Rate | | Costs | | Status | | Total | | | | | (in millions) | Balance in AOCI as of December 31, 2018 | | | | $ | (3.3) | | | $ | (0.2) | | | $ | (1.9) | | | $ | (5.4) | | Change in Fair Value Recognized in AOCI | | | | — | | | — | | | 3.7 | | | 3.7 | | Amount of (Gain) Loss Reclassified from AOCI | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Interest Expense (b) | | | | 1.9 | | | — | | | — | | | 1.9 | | Amortization of Prior Service Cost (Credit) | | | | — | | | (2.0) | | | — | | | (2.0) | | Amortization of Actuarial (Gains) Losses | | | | — | | | 0.6 | | | — | | | 0.6 | | Reclassifications from AOCI, before Income Tax (Expense) Benefit | | | | 1.9 | | | (1.4) | | | — | | | 0.5 | | Income Tax (Expense) Benefit | | | | 0.4 | | | (0.3) | | | — | | | 0.1 | | Reclassifications from AOCI, Net of Income Tax (Expense) Benefit | | | | 1.5 | | | (1.1) | | | — | | | 0.4 | | Net Current Period Other Comprehensive Income (Loss) | | | | 1.5 | | | (1.1) | | | 3.7 | | | 4.1 | | | | | | | | | | | | | Balance in AOCI as of December 31, 2019 | | | | $ | (1.8) | | | $ | (1.3) | | | $ | 1.8 | | | $ | (1.3) | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Pension and OPEB | | | | | | | | | Amortization | | Changes in | | | | | | | Cash Flow Hedge – | | of Deferred | | Funded | | | For the Year Ended December 31, 2018 | | | | Interest Rate | | Costs | | Status | | Total | | | | | (in millions) | Balance in AOCI as of December 31, 2017 | | | | $ | (6.0) | | | $ | 1.2 | | | $ | 0.8 | | | $ | (4.0) | | Change in Fair Value Recognized in AOCI | | | | 2.3 | | | — | | | (3.1) | | | (0.8) | | Amount of (Gain) Loss Reclassified from AOCI | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Interest Expense (b) | | | | 2.1 | | | — | | | — | | | 2.1 | | Amortization of Prior Service Cost (Credit) | | | | — | | | (2.0) | | | — | | | (2.0) | | Amortization of Actuarial (Gains) Losses | | | | — | | | 0.2 | | | — | | | 0.2 | | Reclassifications from AOCI, before Income Tax (Expense) Benefit | | | | 2.1 | | | (1.8) | | | — | | | 0.3 | | Income Tax (Expense) Benefit | | | | 0.4 | | | (0.4) | | | — | | | — | | Reclassifications from AOCI, Net of Income Tax (Expense) Benefit | | | | 1.7 | | | (1.4) | | | — | | | 0.3 | | Net Current Period Other Comprehensive Income (Loss) | | | | 4.0 | | | (1.4) | | | (3.1) | | | (0.5) | | ASU 2018-02 Adoption | | | | (1.3) | | | — | | | 0.4 | | | (0.9) | | Balance in AOCI as of December 31, 2018 | | | | $ | (3.3) | | | $ | (0.2) | | | $ | (1.9) | | | $ | (5.4) | |
(a)The change in fair value includes $6 million and $4 million related to AEP's investment in joint venture wind farms acquired as part of the purchase of Sempra Renewables LLC for the years ended December 31, 2020 and December 31, 2019. See “Sempra Renewables LLC” section of Note 17 for additional information. (b)Amounts reclassified to the referenced line item on the statements of income.
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