XML 45 R2.htm IDEA: XBRL DOCUMENT v3.21.2
Consolidated Statements of Income - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Revenues        
Revenue from Contracts with Customers $ 4,623.0 $ 4,066.4 $ 12,730.6 $ 11,307.9
Sales to AEP Affiliates 0.0 0.0 0.0 0.0
TOTAL REVENUES 4,623.0 4,066.4 12,730.6 11,307.9
Expenses        
Other Operation 735.3 702.9 1,894.6 1,871.0
Maintenance 277.8 237.6 817.0 730.5
Depreciation and Amortization 700.3 644.6 2,103.9 1,996.3
Taxes Other Than Income Taxes 360.8 337.7 1,061.4 976.3
TOTAL EXPENSES 3,515.6 3,123.2 10,003.0 8,890.4
OPERATING INCOME (LOSS) 1,107.4 943.2 2,727.6 2,417.5
Other Income (Expense):        
Other Income (20.6) 5.5 34.2 15.4
Allowance for Equity Funds Used During Construction 37.0 45.2 103.9 111.7
Non-Service Cost Components of Net Periodic Benefit Cost 29.6 29.7 88.9 89.2
Interest Expense (303.7) (291.3) (895.5) (877.4)
INCOME BEFORE INCOME TAX EXPENSE AND EQUITY EARNINGS 849.7 732.3 2,059.1 1,756.4
Income Tax Expense (Benefit) 69.8 (1.2) 185.5 57.9
Equity Earnings (Loss) of Unconsolidated Subsidiaries 17.0 14.7 75.9 63.5
Net Income (Loss) 796.9 748.2 1,949.5 1,762.0
Net Income (Loss) Attributable to Noncontrolling Interests 0.9 (0.4) 0.3 (2.6)
Earnings Attributable to Common Shareholders $ 796.0 $ 748.6 $ 1,949.2 $ 1,764.6
Earnings Per Share        
Weighted Average Number of Basic AEP Common Shares Outstanding 501,233,680 496,177,968 499,418,278 495,479,190
Total Basic Earnings Per Share Attributable to AEP Common Shareholders $ 1.59 $ 1.51 $ 3.90 $ 3.56
Weighted Average Number of Diluted AEP Common Shares Outstanding 502,606,836 497,458,523 500,600,237 496,916,187
Total Diluted Earnings Per Share Attributable to AEP Common Shareholders $ 1.58 $ 1.50 $ 3.89 $ 3.55
Common Stock, Dividends Per Share, Declared $ 0.74 $ 0.70    
Vertically Integrated Utilities [Member]        
Revenues        
Revenue from Contracts with Customers $ 2,716.8 $ 2,400.1 $ 7,445.9 $ 6,655.4
Transmission and Distribution Utilities [Member]        
Revenues        
Revenue from Contracts with Customers 1,195.0 1,124.1 3,366.9 3,208.7
Generation and Marketing [Member]        
Revenues        
Revenue from Contracts with Customers 617.4 464.8 1,641.6 1,223.4
Other Revenues [Member]        
Revenues        
Revenue from Contracts with Customers 93.8 77.4 276.2 220.4
TOTAL REVENUES 154.8 [1] (5.5) [2] 188.7 [3] 13.3 [4]
Purchased Electricity, Fuel and Other Consumables Used for Electric Generation [Member]        
Expenses        
Cost of Goods and Services Sold 1,441.4 1,200.4 4,126.1 3,316.3
AEP Texas Inc. [Member]        
Revenues        
Sales to AEP Affiliates 0.9 41.4 2.9 89.4
TOTAL REVENUES 432.6 432.0 1,195.3 1,257.1
Expenses        
Other Operation 135.3 134.3 367.1 344.7
Maintenance 22.0 20.4 59.8 64.1
Depreciation and Amortization 87.6 107.7 287.1 435.8
Taxes Other Than Income Taxes 41.6 38.7 117.4 106.7
TOTAL EXPENSES 286.5 311.5 831.4 964.9
OPERATING INCOME (LOSS) 146.1 120.5 363.9 292.2
Other Income (Expense):        
Interest Income 0.2 0.5 0.6 1.2
Allowance for Equity Funds Used During Construction 9.2 4.4 16.7 14.4
Non-Service Cost Components of Net Periodic Benefit Cost 2.8 2.8 8.3 8.4
Interest Expense (44.2) (44.5) (132.5) (129.2)
INCOME BEFORE INCOME TAX EXPENSE AND EQUITY EARNINGS 114.1 83.7 257.0 187.0
Income Tax Expense (Benefit) 14.6 1.1 31.6 (10.1)
Net Income (Loss) 99.5 82.6 225.4 197.1
AEP Texas Inc. [Member] | Transmission and Distribution Utilities [Member]        
Revenues        
Revenue from Contracts with Customers 430.8 390.1 1,189.1 1,165.2
AEP Texas Inc. [Member] | Other Revenues [Member]        
Revenues        
Revenue from Contracts with Customers 0.9 0.5 3.3 2.5
TOTAL REVENUES 0.0 [5] 40.6 [6] 0.0 [7] 86.9 [8]
AEP Texas Inc. [Member] | Fuel and Other Consumables Used for Electric Generation [Member]        
Expenses        
Cost of Goods and Services Sold 0.0 10.4 0.0 13.6
AEP Transmission Co [Member]        
Revenues        
Sales to AEP Affiliates 297.6 241.2 864.6 652.6
TOTAL REVENUES 377.0 304.1 1,104.2 837.8
Expenses        
Other Operation 32.6 25.3 78.1 72.0
Maintenance 5.4 3.5 12.3 6.8
Depreciation and Amortization 76.0 61.5 219.0 176.4
Taxes Other Than Income Taxes 61.0 52.2 178.9 152.8
TOTAL EXPENSES 175.0 142.5 488.3 408.0
OPERATING INCOME (LOSS) 202.0 161.6 615.9 429.8
Other Income (Expense):        
Interest Income 0.2 0.2 0.4 2.3
Allowance for Equity Funds Used During Construction 16.0 20.2 49.3 54.9
Interest Expense (36.1) (32.7) (104.5) (95.1)
INCOME BEFORE INCOME TAX EXPENSE AND EQUITY EARNINGS 182.1 149.3 561.1 391.9
Income Tax Expense (Benefit) 36.7 31.7 115.4 82.8
Net Income (Loss) 145.4 117.6 445.7 309.1
AEP Transmission Co [Member] | Transmission [Member]        
Revenues        
Revenue from Contracts with Customers 79.2 62.9 239.3 184.6
AEP Transmission Co [Member] | Other Revenues [Member]        
Revenues        
Revenue from Contracts with Customers 0.2 0.0 0.3 0.6
TOTAL REVENUES 0.0 [5] 0.0 [6] 0.0 [7] 0.0 [8]
Appalachian Power Co [Member]        
Revenues        
Sales to AEP Affiliates 52.4 44.4 140.6 124.9
TOTAL REVENUES 804.0 735.7 2,298.0 2,122.6
Expenses        
Other Operation 173.0 136.3 442.1 379.1
Maintenance 69.1 52.0 184.4 148.7
Depreciation and Amortization 135.4 123.2 406.6 366.0
Taxes Other Than Income Taxes 39.8 38.8 116.7 114.2
TOTAL EXPENSES 670.5 583.8 1,870.1 1,679.4
OPERATING INCOME (LOSS) 133.5 151.9 427.9 443.2
Other Income (Expense):        
Interest Income 0.2 0.6 0.8 1.4
Allowance for Equity Funds Used During Construction 4.3 6.7 12.1 11.5
Non-Service Cost Components of Net Periodic Benefit Cost 4.7 4.7 14.2 14.1
Interest Expense (52.8) (55.0) (160.6) (162.2)
INCOME BEFORE INCOME TAX EXPENSE AND EQUITY EARNINGS 89.9 108.9 294.4 308.0
Income Tax Expense (Benefit) 3.6 (7.7) 19.3 (5.2)
Net Income (Loss) 86.3 116.6 275.1 313.2
Appalachian Power Co [Member] | Vertically Integrated Utilities [Member]        
Revenues        
Revenue from Contracts with Customers 748.5 688.9 2,149.2 1,989.9
Appalachian Power Co [Member] | Other Revenues [Member]        
Revenues        
Revenue from Contracts with Customers 3.1 2.4 8.2 7.8
TOTAL REVENUES 0.0 [5] 0.0 [6] 0.0 [7] 0.0 [8]
Appalachian Power Co [Member] | Fuel and Other Consumables Used for Electric Generation [Member]        
Expenses        
Cost of Goods and Services Sold 170.8 166.0 471.9 430.9
Appalachian Power Co [Member] | Purchased Electricity for Resale [Member]        
Expenses        
Cost of Goods and Services Sold 82.4 67.5 248.4 240.5
Indiana Michigan Power Co [Member]        
Revenues        
Sales to AEP Affiliates 1.1 1.3 2.6 9.1
Other Revenues - Affiliated 14.7 14.1 41.2 42.4
TOTAL REVENUES 635.7 586.7 1,784.0 1,703.6
Expenses        
Purchased Electricity from AEP Affiliates 63.3 55.9 172.7 135.8
Other Operation 167.5 165.5 482.4 459.7
Maintenance 52.0 51.0 165.4 144.4
Depreciation and Amortization 110.6 104.5 328.7 303.6
Taxes Other Than Income Taxes 27.8 27.4 83.8 79.5
TOTAL EXPENSES 509.8 486.2 1,494.8 1,397.1
OPERATING INCOME (LOSS) 125.9 100.5 289.2 306.5
Other Income (Expense):        
Other Income 2.5 2.2 8.9 7.8
Allowance for Equity Funds Used During Construction     9.7 8.8
Non-Service Cost Components of Net Periodic Benefit Cost 4.1 4.1 12.3 12.5
Interest Expense (30.2) (26.9) (86.6) (85.7)
INCOME BEFORE INCOME TAX EXPENSE AND EQUITY EARNINGS 102.3 79.9 223.8 241.1
Income Tax Expense (Benefit) (1.8) 3.2 (8.3) 8.3
Net Income (Loss) 104.1 76.7 232.1 232.8
Indiana Michigan Power Co [Member] | Vertically Integrated Utilities [Member]        
Revenues        
Revenue from Contracts with Customers 618.2 570.1 1,735.1 1,648.4
Indiana Michigan Power Co [Member] | Other Revenues [Member]        
Revenues        
Revenue from Contracts with Customers 1.7 1.2 5.1 3.7
Sales to AEP Affiliates 17.0 15.0 46.0 49.0
TOTAL REVENUES 0.0 [5] 0.0 [6] 0.0 [7] 0.0 [8]
Indiana Michigan Power Co [Member] | Fuel and Other Consumables Used for Electric Generation [Member]        
Expenses        
Cost of Goods and Services Sold 43.7 44.4 129.9 146.0
Indiana Michigan Power Co [Member] | Purchased Electricity for Resale [Member]        
Expenses        
Cost of Goods and Services Sold 44.9 37.5 131.9 128.1
Ohio Power Co [Member]        
Revenues        
Sales to AEP Affiliates 4.3 8.3 21.9 33.0
TOTAL REVENUES 767.7 741.0 2,196.5 2,071.7
Expenses        
Purchased Electricity from AEP Affiliates 3.5 24.1 48.0 96.8
Other Operation 245.1 244.6 622.9 608.5
Maintenance 39.3 33.7 116.4 92.2
Depreciation and Amortization 76.9 74.1 228.6 204.4
Taxes Other Than Income Taxes 126.0 117.8 366.2 337.8
TOTAL EXPENSES 675.5 643.6 1,895.7 1,752.0
OPERATING INCOME (LOSS) 92.2 97.4 300.8 319.7
Other Income (Expense):        
Interest Income 0.2 0.4 0.5 0.8
Carrying Costs Income 0.1 0.3 1.1 1.3
Allowance for Equity Funds Used During Construction 2.0 4.6 7.6 9.3
Non-Service Cost Components of Net Periodic Benefit Cost 3.7 3.8 11.0 11.3
Interest Expense (32.9) (29.4) (96.2) (88.4)
INCOME BEFORE INCOME TAX EXPENSE AND EQUITY EARNINGS 65.3 77.1 224.8 254.0
Income Tax Expense (Benefit) 8.9 18.1 26.2 39.0
Net Income (Loss) 56.4 59.0 198.6 215.0
Ohio Power Co [Member] | Transmission and Distribution Utilities [Member]        
Revenues        
Revenue from Contracts with Customers 761.0 730.4 2,167.8 2,031.4
Ohio Power Co [Member] | Other Revenues [Member]        
Revenues        
Revenue from Contracts with Customers 2.4 2.3 6.8 7.3
TOTAL REVENUES 4.9 [5] 3.4 [6] 14.2 [7] 13.3 [8]
Ohio Power Co [Member] | Purchased Electricity for Resale [Member]        
Expenses        
Cost of Goods and Services Sold 184.7 149.3 513.6 412.3
Public Service Co Of Oklahoma [Member]        
Revenues        
Sales to AEP Affiliates 1.0 1.4 3.1 3.8
TOTAL REVENUES 483.8 382.2 1,124.4 988.1
Expenses        
Other Operation 102.3 91.7 262.7 248.5
Maintenance 21.2 19.9 68.1 68.9
Depreciation and Amortization 48.9 40.1 149.0 129.8
Taxes Other Than Income Taxes 12.1 12.1 37.1 35.8
TOTAL EXPENSES 380.4 289.4 957.7 833.3
OPERATING INCOME (LOSS) 103.4 92.8 166.7 154.8
Other Income (Expense):        
Interest Income 1.3 0.0 3.0 0.1
Allowance for Equity Funds Used During Construction 0.5 1.3 1.5 3.2
Non-Service Cost Components of Net Periodic Benefit Cost 2.1 2.1 6.4 6.3
Interest Expense (16.2) (14.6) (44.7) (45.9)
INCOME BEFORE INCOME TAX EXPENSE AND EQUITY EARNINGS 91.1 81.6 132.9 118.5
Income Tax Expense (Benefit) (2.1) 1.3 (3.7) 2.1
Net Income (Loss) 93.2 80.3 136.6 116.4
Public Service Co Of Oklahoma [Member] | Vertically Integrated Utilities [Member]        
Revenues        
Revenue from Contracts with Customers 481.3 379.8 1,117.4 976.3
Public Service Co Of Oklahoma [Member] | Other Revenues [Member]        
Revenues        
Revenue from Contracts with Customers 1.5 1.0 3.9 8.0
TOTAL REVENUES 0.0 [5] 0.0 [6] 0.0 [7] 0.0 [8]
Public Service Co Of Oklahoma [Member] | Purchased Electricity, Fuel and Other Consumables Used for Electric Generation [Member]        
Expenses        
Cost of Goods and Services Sold 195.9 125.6 440.8 350.3
Southwestern Electric Power Co [Member]        
Revenues        
Sales to AEP Affiliates 13.5 10.9 32.2 31.5
TOTAL REVENUES 584.1 517.3 1,630.3 1,318.2
Expenses        
Other Operation 91.7 96.8 270.6 259.0
Maintenance 33.7 30.7 99.5 97.2
Depreciation and Amortization 74.8 68.5 217.4 203.9
Taxes Other Than Income Taxes 28.9 26.7 89.0 77.0
TOTAL EXPENSES 443.5 395.4 1,329.2 1,068.6
OPERATING INCOME (LOSS) 140.6 121.9 301.1 249.6
Other Income (Expense):        
Interest Income 2.8 0.6 6.9 1.7
Allowance for Equity Funds Used During Construction 1.4 3.4 5.4 5.7
Non-Service Cost Components of Net Periodic Benefit Cost 2.1 2.1 6.2 6.3
Interest Expense (31.7) (29.3) (92.4) (89.1)
INCOME BEFORE INCOME TAX EXPENSE AND EQUITY EARNINGS 115.2 98.7 227.2 174.2
Income Tax Expense (Benefit) 6.3 10.8 19.0 12.5
Equity Earnings (Loss) of Unconsolidated Subsidiaries 1.0 0.7 2.5 2.2
Net Income (Loss) 109.9 88.6 210.7 163.9
Net Income (Loss) Attributable to Noncontrolling Interests 1.0 0.7 2.6 2.1
Earnings Attributable to Common Shareholders 108.9 87.9 208.1 161.8
Southwestern Electric Power Co [Member] | Vertically Integrated Utilities [Member]        
Revenues        
Revenue from Contracts with Customers 570.1 505.7 1,596.6 1,284.3
Southwestern Electric Power Co [Member] | Other Revenues [Member]        
Revenues        
Revenue from Contracts with Customers 0.5 0.7 1.5 2.4
TOTAL REVENUES 0.0 [5] 0.0 [6] 0.0 [7] 0.0 [8]
Southwestern Electric Power Co [Member] | Purchased Electricity, Fuel and Other Consumables Used for Electric Generation [Member]        
Expenses        
Cost of Goods and Services Sold $ 214.4 $ 172.7 $ 652.7 $ 431.5
[1] Amounts include affiliated and nonaffiliated revenues.
[2] Amounts include affiliated and nonaffiliated revenues
[3] Amounts include affiliated and nonaffiliated revenues.
[4] Amounts include affiliated and nonaffiliated revenues.
[5] Amounts include affiliated and nonaffiliated revenues.
[6] Amounts include affiliated and nonaffiliated revenues.
[7] Amounts include affiliated and nonaffiliated revenues.
[8] Amounts include affiliated and nonaffiliated revenues.