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Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2021


	December 31,
Health Care Trend Rates	2021		2020
Initial	6.25	%	6.50	%
Ultimate	4.50	%	4.50	%
Year Ultimate Reached	2029		2029

Reconciliation of Changes in Benefit Obligations and Fair Value of Assets


AEP	Pension Plans				OPEB
	2021		2020		2021		2020
Change in Benefit Obligation	(in millions)
Benefit Obligation as of January 1,	$	5,544.5	$	5,236.8	$	1,210.9	$	1,225.4
Service Cost	129.2		111.9		9.5		10.0
Interest Cost	137.2		167.9		30.5		39.8
Actuarial (Gain) Loss	(173.9)		434.7		(120.1)		39.3
Plan Amendments	—		—		(5.4)		(11.4)
Benefit Payments	(450.0)		(406.8)		(126.0)		(131.0)
Participant Contributions	—		—		41.3		38.2
Medicare Subsidy	—		—		0.6		0.6
Benefit Obligation as of December 31,	$	5,187.0	$	5,544.5	$	1,041.3	$	1,210.9

Change in Fair Value of Plan Assets
Fair Value of Plan Assets as of January 1,	$	5,556.6	$	5,015.4	$	1,946.7	$	1,781.8
Actual Gain on Plan Assets	239.2		832.4		176.5		253.0
Company Contributions (a)	7.1		115.6		5.8		4.7
Participant Contributions	—		—		41.3		38.2
Benefit Payments	(450.0)		(406.8)		(126.0)		(131.0)
Fair Value of Plan Assets as of December 31,	$	5,352.9	$	5,556.6	$	2,044.3	$	1,946.7

Funded Status as of December 31,	$	165.9	$	12.1	$	1,003.0	$	735.8

(a)Contributions to the qualified pension plan were $0 and $110 million for the years ended December 31, 2021 and 2020, respectively. Contributions to the non-qualified pension plans were $7 million and $6 million for the years ended December 31, 2021 and 2020, respectively.


AEP Texas	Pension Plans				OPEB
	2021		2020		2021		2020
Change in Benefit Obligation	(in millions)
Benefit Obligation as of January 1,	$	453.2	$	441.2	$	96.3	$	97.8
Service Cost	11.8		10.0		0.7		0.8
Interest Cost	11.2		13.9		2.4		3.2
Actuarial (Gain) Loss	(10.9)		28.1		(12.3)		2.4
Plan Amendments	—		—		(0.5)		(1.0)
Benefit Payments	(45.5)		(40.0)		(9.3)		(10.0)
Participant Contributions	—		—		3.2		3.1

Benefit Obligation as of December 31,	$	419.8	$	453.2	$	80.5	$	96.3

Change in Fair Value of Plan Assets
Fair Value of Plan Assets as of January 1,	$	474.0	$	435.1	$	162.3	$	148.1
Actual Gain on Plan Assets	16.0		67.2		12.5		21.1
Company Contributions	0.4		11.7		0.1		—
Participant Contributions	—		—		3.2		3.1
Benefit Payments	(45.5)		(40.0)		(9.3)		(10.0)
Fair Value of Plan Assets as of December 31,	$	444.9	$	474.0	$	168.8	$	162.3

Funded Status as of December 31,	$	25.1	$	20.8	$	88.3	$	66.0


APCo	Pension Plans				OPEB
	2021		2020		2021		2020
Change in Benefit Obligation	(in millions)
Benefit Obligation as of January 1,	$	670.8	$	647.2	$	198.2	$	203.5
Service Cost	11.9		10.5		1.0		1.0
Interest Cost	16.4		20.3		4.9		6.6
Actuarial (Gain) Loss	(28.5)		40.0		(21.4)		5.6
Plan Amendments	—		—		(0.9)		(1.8)
Benefit Payments	(48.9)		(47.2)		(21.3)		(23.2)
Participant Contributions	—		—		6.6		6.3
Medicare Subsidy	—		—		0.2		0.2
Benefit Obligation as of December 31,	$	621.7	$	670.8	$	167.3	$	198.2

Change in Fair Value of Plan Assets
Fair Value of Plan Assets as of January 1,	$	701.3	$	637.0	$	293.0	$	271.0
Actual Gain on Plan Assets	30.9		104.5		21.9		36.8
Company Contributions	—		7.0		2.1		2.1
Participant Contributions	—		—		6.6		6.3
Benefit Payments	(48.9)		(47.2)		(21.3)		(23.2)
Fair Value of Plan Assets as of December 31,	$	683.3	$	701.3	$	302.3	$	293.0

Funded Status as of December 31,	$	61.6	$	30.5	$	135.0	$	94.8


I&M	Pension Plans				OPEB
	2021		2020		2021		2020
Change in Benefit Obligation	(in millions)
Benefit Obligation as of January 1,	$	653.3	$	616.1	$	141.4	$	142.9
Service Cost	17.5		15.4		1.3		1.4
Interest Cost	16.2		19.7		3.5		4.7
Actuarial (Gain) Loss	(29.5)		44.3		(16.8)		5.1
Plan Amendments	—		—		(0.7)		(1.6)
Benefit Payments	(45.4)		(42.2)		(15.3)		(15.9)
Participant Contributions	—		—		5.2		4.8

Benefit Obligation as of December 31,	$	612.1	$	653.3	$	118.6	$	141.4

Change in Fair Value of Plan Assets
Fair Value of Plan Assets as of January 1,	$	698.1	$	630.5	$	238.2	$	216.3
Actual Gain on Plan Assets	28.8		103.3		20.6		33.0
Company Contributions	—		6.5		—		—
Participant Contributions	—		—		5.2		4.8
Benefit Payments	(45.4)		(42.2)		(15.3)		(15.9)
Fair Value of Plan Assets as of December 31,	$	681.5	$	698.1	$	248.7	$	238.2

Funded Status as of December 31,	$	69.4	$	44.8	$	130.1	$	96.8


OPCo	Pension Plans				OPEB
	2021		2020		2021		2020
Change in Benefit Obligation	(in millions)
Benefit Obligation as of January 1,	$	510.3	$	487.8	$	126.4	$	130.2
Service Cost	11.4		9.7		0.8		0.9
Interest Cost	12.5		15.4		3.0		4.2
Actuarial (Gain) Loss	(24.1)		33.4		(15.6)		3.1
Plan Amendments	—		—		(0.6)		(1.3)
Benefit Payments	(39.4)		(36.0)		(13.6)		(15.0)
Participant Contributions	—		—		4.5		4.3

Benefit Obligation as of December 31,	$	470.7	$	510.3	$	104.9	$	126.4

Change in Fair Value of Plan Assets
Fair Value of Plan Assets as of January 1,	$	543.1	$	499.1	$	213.0	$	197.1
Actual Gain on Plan Assets	21.1		79.9		16.1		26.6
Company Contributions	—		0.1		—		—
Participant Contributions	—		—		4.5		4.3
Benefit Payments	(39.4)		(36.0)		(13.6)		(15.0)
Fair Value of Plan Assets as of December 31,	$	524.8	$	543.1	$	220.0	$	213.0

Funded Status as of December 31,	$	54.1	$	32.8	$	115.1	$	86.6


PSO	Pension Plans				OPEB
	2021		2020		2021		2020
Change in Benefit Obligation	(in millions)
Benefit Obligation as of January 1,	$	279.9	$	267.5	$	64.0	$	64.7
Service Cost	8.0		7.3		0.6		0.7
Interest Cost	6.7		8.5		1.6		2.1
Actuarial (Gain) Loss	(17.2)		17.7		(6.8)		1.9
Plan Amendments	—		—		(0.3)		(0.7)
Benefit Payments	(24.8)		(21.1)		(7.0)		(6.8)
Participant Contributions	—		—		2.3		2.1

Benefit Obligation as of December 31,	$	252.6	$	279.9	$	54.4	$	64.0

Change in Fair Value of Plan Assets
Fair Value of Plan Assets as of January 1,	$	299.8	$	276.2	$	107.8	$	98.0
Actual Gain on Plan Assets	11.1		44.6		10.9		14.5
Company Contributions	0.1		0.1		—		—
Participant Contributions	—		—		2.3		2.1
Benefit Payments	(24.8)		(21.1)		(7.0)		(6.8)
Fair Value of Plan Assets as of December 31,	$	286.2	$	299.8	$	114.0	$	107.8

Funded Status as of December 31,	$	33.6	$	19.9	$	59.6	$	43.8


SWEPCo	Pension Plans				OPEB
	2021		2020		2021		2020
Change in Benefit Obligation	(in millions)
Benefit Obligation as of January 1,	$	334.5	$	314.2	$	77.1	$	77.4
Service Cost	11.2		9.9		0.8		0.8
Interest Cost	8.5		10.2		1.9		2.5
Actuarial (Gain) Loss	(3.5)		27.4		(9.2)		2.5
Plan Amendments	—		—		(0.4)		(0.8)
Benefit Payments	(33.0)		(27.2)		(7.6)		(7.7)
Participant Contributions	—		—		2.6		2.4

Benefit Obligation as of December 31,	$	317.7	$	334.5	$	65.2	$	77.1

Change in Fair Value of Plan Assets
Fair Value of Plan Assets as of January 1,	$	326.9	$	296.9	$	129.9	$	117.2
Actual Gain on Plan Assets	14.3		48.2		11.7		18.0
Company Contributions	0.1		9.0		—		—
Participant Contributions	—		—		2.6		2.4
Benefit Payments	(33.0)		(27.2)		(7.6)		(7.7)
Fair Value of Plan Assets as of December 31,	$	308.3	$	326.9	$	136.6	$	129.9

Funded (Underfunded) Status as of December 31,	$	(9.4)	$	(7.6)	$	71.4	$	52.8

Benefit Amounts Recognized on the Balance Sheets


	Pension Plans				OPEB
	December 31,
AEP	2021		2020		2021		2020
	(in millions)
Deferred Charges and Other Noncurrent Assets – Prepaid Benefit Costs	$	244.3	$	93.5	$	1,040.8	$	771.9
Other Current Liabilities – Accrued Short-term Benefit Liability	(7.6)		(6.7)		(2.7)		(2.4)
Employee Benefits and Pension Obligations – Accrued Long-term Benefit Liability	(70.8)		(74.7)		(35.1)		(33.7)
Funded Status	$	165.9	$	12.1	$	1,003.0	$	735.8


	Pension Plans				OPEB
	December 31,
AEP Texas	2021		2020		2021		2020
	(in millions)
Deferred Charges and Other Noncurrent Assets – Prepaid Benefit Costs	$	28.7	$	24.7	$	88.3	$	66.0
Other Current Liabilities – Accrued Short-term Benefit Liability	(0.3)		(0.4)		—		—
Deferred Credits and Other Noncurrent Liabilities – Accrued Long-term Benefit Liability	(3.3)		(3.5)		—		—
Funded Status	$	25.1	$	20.8	$	88.3	$	66.0


	Pension Plans				OPEB
	December 31,
APCo	2021		2020		2021		2020
	(in millions)
Employee Benefits and Pension Assets – Prepaid Benefit Costs	$	62.4	$	31.0	$	158.1	$	119.1
Other Current Liabilities – Accrued Short-term Benefit Liability	—		—		(1.8)		(1.8)
Employee Benefits and Pension Obligations – Accrued Long-term Benefit Liability	(0.8)		(0.5)		(21.3)		(22.5)
Funded Status	$	61.6	$	30.5	$	135.0	$	94.8


	Pension Plans				OPEB
	December 31,
I&M	2021		2020		2021		2020
	(in millions)
Deferred Charges and Other Noncurrent Assets – Prepaid Benefit Costs	$	71.4	$	46.5	$	130.1	$	96.8
Other Current Liabilities – Accrued Short-term Benefit Liability	(0.1)		—		—		—
Deferred Credits and Other Noncurrent Liabilities – Accrued Long-term Benefit Liability	(1.9)		(1.7)		—		—
Funded Status	$	69.4	$	44.8	$	130.1	$	96.8


	Pension Plans				OPEB
	December 31,
OPCo	2021		2020		2021		2020
	(in millions)
Deferred Charges and Other Noncurrent Assets – Prepaid Benefit Costs	$	54.8	$	33.3	$	115.1	$	86.6

Deferred Credits and Other Noncurrent Liabilities – Accrued Long-term Benefit Liability	(0.7)		(0.5)		—		—
Funded Status	$	54.1	$	32.8	$	115.1	$	86.6


	Pension Plans				OPEB
	December 31,
PSO	2021		2020		2021		2020
	(in millions)
Employee Benefits and Pension Assets – Prepaid Benefit Costs	$	35.5	$	21.9	$	59.6	$	43.8
Other Current Liabilities – Accrued Short-term Benefit Liability	(0.1)		(0.1)		—		—
Deferred Credits and Other Noncurrent Liabilities – Accrued Long-term Benefit Liability	(1.8)		(1.9)		—		—
Funded Status	$	33.6	$	19.9	$	59.6	$	43.8


	Pension Plans				OPEB
	December 31,
SWEPCo	2021		2020		2021		2020
	(in millions)
Deferred Charges and Other Noncurrent Assets – Prepaid Benefit Costs	$	—	$	—	$	71.4	$	52.8
Other Current Liabilities – Accrued Short-term Benefit Liability	(0.1)		(0.1)		—		—
Employee Benefits and Pension Obligations – Accrued Long-term Benefit Liability	(9.3)		(7.5)		—		—
Funded (Underfunded) Status	$	(9.4)	$	(7.6)	$	71.4	$	52.8

Amounts Included in AOCI and Regulatory Assets


AEP	Pension Plans				OPEB
	December 31,
	2021		2020		2021		2020
Components	(in millions)
Net Actuarial (Gain) Loss	$	894.7	$	1,179.6	$	(103.6)	$	101.9
Prior Service Cost (Credit)	0.2		0.2		(161.9)		(227.3)

Recorded as
Regulatory Assets	$	878.0	$	1,182.4	$	(195.1)	$	(99.0)
Deferred Income Taxes	3.6		(0.5)		(14.7)		(5.5)
Net of Tax AOCI	13.3		(2.1)		(55.7)		(20.9)


AEP Texas	Pension Plans				OPEB
	December 31,
	2021		2020		2021		2020
Components	(in millions)
Net Actuarial (Gain) Loss	$	144.7	$	160.5	$	(5.2)	$	12.3
Prior Service Credit	—		—		(13.7)		(19.3)

Recorded as
Regulatory Assets	$	136.7	$	151.3	$	(17.7)	$	(6.3)
Deferred Income Taxes	1.8		2.0		(0.2)		(0.1)
Net of Tax AOCI	6.2		7.2		(1.0)		(0.6)


APCo	Pension Plans				OPEB
	December 31,
	2021		2020		2021		2020
Components	(in millions)
Net Actuarial (Gain) Loss	$	83.9	$	126.3	$	(18.9)	$	11.1
Prior Service Credit	—		—		(23.8)		(33.2)

Recorded as
Regulatory Assets	$	82.5	$	124.7	$	(19.8)	$	(10.3)
Deferred Income Taxes	0.3		0.3		(4.9)		(2.5)
Net of Tax AOCI	1.1		1.3		(18.0)		(9.3)


I&M	Pension Plans				OPEB
	December 31,
	2021		2020		2021		2020
Components	(in millions)
Net Actuarial (Gain) Loss	$	(1.6)	$	39.5	$	(10.7)	$	15.6
Prior Service Credit	—		—		(22.1)		(31.0)

Recorded as
Regulatory Assets/Liabilities (a)	$	3.1	$	40.3	$	(30.7)	$	(14.6)
Deferred Income Taxes	(1.0)		(0.1)		(0.4)		(0.2)
Net of Tax AOCI	(3.7)		(0.7)		(1.7)		(0.6)

(a)Recorded as a Regulatory Liability as of December 31, 2021 and recorded as a Regulatory Asset as of December 31, 2020.


OPCo	Pension Plans				OPEB
	December 31,
	2021		2020		2021		2020
Components	(in millions)
Net Actuarial (Gain) Loss	$	118.1	$	150.0	$	(18.5)	$	3.6
Prior Service Credit	—		—		(16.3)		(22.9)

Recorded as
Regulatory Assets	$	118.1	$	150.0	$	(34.8)	$	(19.3)


PSO	Pension Plans				OPEB
	December 31,
	2021		2020		2021		2020
Components	(in millions)
Net Actuarial (Gain) Loss	$	35.0	$	55.9	$	(2.1)	$	10.5
Prior Service Credit	—		—		(10.0)		(14.1)

Recorded as
Regulatory Assets	$	35.0	$	55.9	$	(12.1)	$	(3.6)


SWEPCo	Pension Plans				OPEB
	December 31,
	2021		2020		2021		2020
Components	(in millions)
Net Actuarial (Gain) Loss	$	76.4	$	86.9	$	(3.5)	$	11.5
Prior Service Credit	—		—		(12.3)		(17.2)

Recorded as
Regulatory Assets	$	76.4	$	86.9	$	(8.9)	$	(3.0)
Deferred Income Taxes	—		—		(1.4)		(0.5)
Net of Tax AOCI	—		—		(5.5)		(2.2)

Components of Change in Amounts Included in AOCI and Regulatory Assets


AEP	Pension Plans				OPEB
	2021		2020		2021		2020
Components	(in millions)
Actuarial Gain During the Year	$	(183.4)	$	(132.9)	$	(205.5)	$	(118.0)
Amortization of Actuarial Loss	(101.5)		(93.7)		—		(5.9)
Prior Service Credit	—		—		(5.5)		(11.4)
Amortization of Prior Service Credit	—		—		70.9		69.8
Change for the Year Ended December 31,	$	(284.9)	$	(226.6)	$	(140.1)	$	(65.5)


AEP Texas	Pension Plans				OPEB
	2021		2020		2021		2020
Components	(in millions)
Actuarial Gain During the Year	$	(7.5)	$	(16.4)	$	(17.5)	$	(10.7)
Amortization of Actuarial Loss	(8.3)		(7.8)		—		(0.5)
Prior Service Credit	—		—		(0.4)		(1.0)
Amortization of Prior Service Credit	—		—		6.0		5.9
Change for the Year Ended December 31,	$	(15.8)	$	(24.2)	$	(11.9)	$	(6.3)


APCo	Pension Plans				OPEB
	2021		2020		2021		2020
Components	(in millions)
Actuarial Gain During the Year	$	(30.4)	$	(30.8)	$	(30.0)	$	(16.8)
Amortization of Actuarial Loss	(12.0)		(11.2)		—		(0.9)
Prior Service Credit	—		—		(0.9)		(1.8)
Amortization of Prior Service Credit	—		—		10.3		10.2
Change for the Year Ended December 31,	$	(42.4)	$	(42.0)	$	(20.6)	$	(9.3)


I&M	Pension Plans				OPEB
	2021		2020		2021		2020
Components	(in millions)
Actuarial Gain During the Year	$	(29.4)	$	(25.7)	$	(26.3)	$	(16.4)
Amortization of Actuarial Loss	(11.7)		(10.8)		—		(0.7)
Prior Service Credit	—		—		(0.7)		(1.5)
Amortization of Prior Service Credit	—		—		9.6		9.5
Change for the Year Ended December 31,	$	(41.1)	$	(36.5)	$	(17.4)	$	(9.1)


OPCo	Pension Plans				OPEB
	2021		2020		2021		2020
Components	(in millions)
Actuarial Gain During the Year	$	(22.8)	$	(20.2)	$	(22.1)	$	(12.9)
Amortization of Actuarial Loss	(9.1)		(8.5)		—		(0.7)
Prior Service Credit	—		—		(0.6)		(1.3)
Amortization of Prior Service Credit	—		—		7.2		7.0
Change for the Year Ended December 31,	$	(31.9)	$	(28.7)	$	(15.5)	$	(7.9)


PSO	Pension Plans				OPEB
	2021		2020		2021		2020
Components	(in millions)
Actuarial Gain During the Year	$	(16.0)	$	(12.4)	$	(12.6)	$	(7.4)
Amortization of Actuarial Loss	(4.9)		(4.7)		—		(0.3)
Prior Service Credit	—		—		(0.3)		(0.7)
Amortization of Prior Service Credit	—		—		4.4		4.4
Change for the Year Ended December 31,	$	(20.9)	$	(17.1)	$	(8.5)	$	(4.0)


SWEPCo	Pension Plans				OPEB
	2021		2020		2021		2020
Components	(in millions)
Actuarial Gain During the Year	$	(4.3)	$	(5.2)	$	(15.0)	$	(9.2)
Amortization of Actuarial Loss	(6.2)		(5.7)		—		(0.4)
Prior Service Credit	—		—		(0.4)		(0.8)
Amortization of Prior Service Credit	—		—		5.3		5.2
Change for the Year Ended December 31,	$	(10.5)	$	(10.9)	$	(10.1)	$	(5.2)

Allocated Assets of Investments


	Pension Plan				OPEB
	December 31,
Company	2021		2020		2021		2020
AEP Texas	8.3	%	8.5	%	8.3	%	8.3	%
APCo	12.8	%	12.6	%	14.8	%	15.1	%
I&M	12.7	%	12.6	%	12.2	%	12.2	%
OPCo	9.8	%	9.8	%	10.8	%	10.9	%
PSO	5.3	%	5.4	%	5.6	%	5.5	%
SWEPCo	5.8	%	5.9	%	6.7	%	6.7	%

Accumulated Benefit Obligation


Accumulated Benefit Obligation	AEP		AEP Texas		APCo		I&M		OPCo		PSO		SWEPCo
	(in millions)
Qualified Pension Plan	$	4,822.5	$	391.4	$	597.0	$	575.2	$	440.0	$	232.1	$	291.4
Nonqualified Pension Plans	69.7		3.3		0.4		1.2		0.3		1.5		1.3
Total as of December 31, 2021	$	4,892.2	$	394.7	$	597.4	$	576.4	$	440.3	$	233.6	$	292.7


Accumulated Benefit Obligation	AEP		AEP Texas		APCo		I&M		OPCo		PSO		SWEPCo
	(in millions)
Qualified Pension Plan	$	5,171.3	$	424.5	$	645.8	$	615.8	$	479.2	$	258.3	$	307.1
Nonqualified Pension Plans	72.9		3.6		0.2		0.8		0.2		1.6		1.4
Total as of December 31, 2020	$	5,244.2	$	428.1	$	646.0	$	616.6	$	479.4	$	259.9	$	308.5

Underfunded Projected Benefit Obligation


	AEP		AEP Texas		APCo		I&M		OPCo		PSO		SWEPCo
	(in millions)
Projected Benefit Obligation	$	78.4	$	3.6	$	0.8	$	1.9	$	0.7	$	1.9	$	317.7
Fair Value of Plan Assets	—		—		—		—		—		—		308.3
Underfunded Projected Benefit Obligation as of December 31, 2021	$	(78.4)	$	(3.6)	$	(0.8)	$	(1.9)	$	(0.7)	$	(1.9)	$	(9.4)


	AEP		AEP Texas		APCo		I&M		OPCo		PSO		SWEPCo
	(in millions)
Projected Benefit Obligation	$	81.4	$	3.9	$	0.5	$	1.7	$	0.6	$	2.0	$	334.5
Fair Value of Plan Assets	—		—		—		—		—		—		326.9
Underfunded Projected Benefit Obligation as of December 31, 2020	$	(81.4)	$	(3.9)	$	(0.5)	$	(1.7)	$	(0.6)	$	(2.0)	$	(7.6)

Underfunded Accumulated Benefit Obligation


	AEP		AEP Texas		APCo		I&M		OPCo		PSO		SWEPCo
	(in millions)
Accumulated Benefit Obligation	$	69.7	$	3.3	$	0.4	$	1.2	$	0.3	$	1.5	$	1.3
Fair Value of Plan Assets	—		—		—		—		—		—		—
Underfunded Accumulated Benefit Obligation as of December 31, 2021	$	(69.7)	$	(3.3)	$	(0.4)	$	(1.2)	$	(0.3)	$	(1.5)	$	(1.3)


	AEP		AEP Texas		APCo		I&M		OPCo		PSO		SWEPCo
	(in millions)
Accumulated Benefit Obligation	$	72.9	$	3.6	$	0.2	$	0.8	$	0.2	$	1.6	$	1.4
Fair Value of Plan Assets	—		—		—		—		—		—		—
Underfunded Accumulated Benefit Obligation as of December 31, 2020	$	(72.9)	$	(3.6)	$	(0.2)	$	(0.8)	$	(0.2)	$	(1.6)	$	(1.4)

Estimated Contributions and Payments to the Pension and OPEB Plans


Company	Pension Plans		OPEB
	(in millions)
AEP	$	133.6	$	3.4
AEP Texas	5.9		0.1
APCo	1.4		1.8
I&M	1.1		—

PSO	0.1		—
SWEPCo	6.5		—

Estimated Payments Expected to be Made by the Pension and OPEB Plans


Pension Plans	AEP		AEP Texas		APCo		I&M		OPCo		PSO		SWEPCo
	(in millions)
2022	$	378.1	$	36.3	$	43.9	$	41.3	$	35.1	$	20.3	$	24.7
2023	380.8		35.9		45.0		40.9		33.7		21.3		25.4
2024	381.1		35.8		45.5		42.1		32.9		20.5		25.5
2025	373.7		34.9		43.1		42.0		33.0		20.4		25.8
2026	373.6		34.7		43.5		42.2		32.4		20.0		27.3
Years 2027 to 2031, in Total	1,722.9		145.5		202.9		201.8		149.1		87.1		112.4


OPEB Benefit Payments	AEP		AEP Texas		APCo		I&M		OPCo		PSO		SWEPCo
	(in millions)
2022	$	123.9	$	9.6	$	20.5	$	15.2	$	13.5	$	7.1	$	7.7
2023	115.4		9.1		19.1		14.1		12.5		6.7		7.4
2024	119.4		9.8		19.7		14.7		12.9		7.0		7.9
2025	117.9		9.8		19.2		14.5		12.7		7.0		8.0
2026	116.0		9.8		18.8		14.4		12.3		6.8		7.9
Years 2027 to 2031, in Total	545.1		44.7		87.5		66.8		57.1		29.7		37.1


OPEB Medicare Subsidy Receipts	AEP		AEP Texas		APCo		I&M		OPCo		PSO		SWEPCo
	(in millions)
2022	$	0.2	$	—	$	0.1	$	—	$	—	$	—	$	—
2023	0.3		—		0.1		—		—		—		—
2024	0.3		—		0.1		—		—		—		—
2025	0.3		—		0.1		—		—		—		—
2026	0.3		—		0.1		—		—		—		—
Years 2027 to 2031, in Total	1.5		—		0.5		—		—		—		—

Components of Net Periodic Benefit Cost


AEP	Pension Plans						OPEB
	Years Ended December 31,
	2021		2020		2019		2021		2020		2019
	(in millions)
Service Cost	$	129.2	$	111.9	$	95.5	$	9.5	$	10.0	$	9.5
Interest Cost	137.2		167.9		204.4		30.5		39.8		50.5
Expected Return on Plan Assets	(229.7)		(264.9)		(296.0)		(91.1)		(95.6)		(93.7)

Amortization of Prior Service Credit	—		—		—		(70.9)		(69.8)		(69.1)
Amortization of Net Actuarial Loss	101.5		93.7		57.6		—		5.9		22.1
Settlements	—		—		—		—		—		—
Net Periodic Benefit Cost (Credit)	138.2		108.6		61.5		(122.0)		(109.7)		(80.7)
Capitalized Portion	(55.7)		(47.0)		(38.6)		(4.1)		(4.2)		(3.8)
Net Periodic Benefit Cost (Credit) Recognized in Expense	$	82.5	$	61.6	$	22.9	$	(126.1)	$	(113.9)	$	(84.5)


AEP Texas	Pension Plans						OPEB
	Years Ended December 31,
	2021		2020		2019		2021		2020		2019
	(in millions)
Service Cost	$	11.8	$	10.0	$	8.6	$	0.7	$	0.8	$	0.8
Interest Cost	11.2		13.9		17.5		2.4		3.2		4.0
Expected Return on Plan Assets	(19.5)		(22.7)		(25.8)		(7.5)		(8.0)		(7.8)

Amortization of Prior Service Credit	—		—		—		(6.0)		(5.9)		(5.9)
Amortization of Net Actuarial Loss	8.3		7.8		4.9		—		0.5		1.8
Net Periodic Benefit Cost (Credit)	11.8		9.0		5.2		(10.4)		(9.4)		(7.1)
Capitalized Portion	(6.6)		(5.5)		(4.5)		(0.4)		(0.4)		(0.4)
Net Periodic Benefit Cost (Credit) Recognized in Expense	$	5.2	$	3.5	$	0.7	$	(10.8)	$	(9.8)	$	(7.5)


APCo	Pension Plans						OPEB
	Years Ended December 31,
	2021		2020		2019		2021		2020		2019
	(in millions)
Service Cost	$	11.9	$	10.5	$	9.4	$	1.0	$	1.0	$	1.0
Interest Cost	16.4		20.3		25.2		4.9		6.6		8.7
Expected Return on Plan Assets	(29.1)		(33.6)		(37.4)		(13.5)		(14.4)		(14.6)

Amortization of Prior Service Credit	—		—		—		(10.3)		(10.2)		(10.1)
Amortization of Net Actuarial Loss	12.0		11.2		7.0		—		0.9		3.7
Net Periodic Benefit Cost (Credit)	11.2		8.4		4.2		(17.9)		(16.1)		(11.3)
Capitalized Portion	(5.2)		(4.5)		(4.0)		(0.4)		(0.4)		(0.4)
Net Periodic Benefit Cost (Credit) Recognized in Expense	$	6.0	$	3.9	$	0.2	$	(18.3)	$	(16.5)	$	(11.7)


I&M	Pension Plans						OPEB
	Years Ended December 31,
	2021		2020		2019		2021		2020		2019
	(in millions)
Service Cost	$	17.5	$	15.4	$	13.4	$	1.3	$	1.4	$	1.4
Interest Cost	16.2		19.7		23.8		3.5		4.7		5.8
Expected Return on Plan Assets	(28.9)		(33.3)		(36.8)		(11.1)		(11.7)		(11.4)

Amortization of Prior Service Credit	—		—		—		(9.6)		(9.5)		(9.4)
Amortization of Net Actuarial Loss	11.7		10.8		6.6		—		0.7		2.7
Net Periodic Benefit Cost (Credit)	16.5		12.6		7.0		(15.9)		(14.4)		(10.9)
Capitalized Portion	(4.9)		(4.3)		(3.4)		(0.4)		(0.4)		(0.4)
Net Periodic Benefit Cost (Credit) Recognized in Expense	$	11.6	$	8.3	$	3.6	$	(16.3)	$	(14.8)	$	(11.3)


OPCo	Pension Plans						OPEB
	Years Ended December 31,
	2021		2020		2019		2021		2020		2019
	(in millions)
Service Cost	$	11.4	$	9.7	$	7.9	$	0.8	$	0.9	$	0.8
Interest Cost	12.5		15.4		19.1		3.0		4.2		5.5
Expected Return on Plan Assets	(22.3)		(26.3)		(29.3)		(9.7)		(10.5)		(10.8)


Amortization of Prior Service Credit	—		—		—		(7.2)		(7.0)		(6.9)
Amortization of Net Actuarial Loss	9.1		8.5		5.3		—		0.7		2.5
Net Periodic Benefit Cost (Credit)	10.7		7.3		3.0		(13.1)		(11.7)		(8.9)
Capitalized Portion	(6.2)		(5.0)		(3.7)		(0.4)		(0.5)		(0.4)
Net Periodic Benefit Cost (Credit) Recognized in Expense	$	4.5	$	2.3	$	(0.7)	$	(13.5)	$	(12.2)	$	(9.3)


PSO	Pension Plans						OPEB
	Years Ended December 31,
	2021		2020		2019		2021		2020		2019
	(in millions)
Service Cost	$	8.0	$	7.3	$	6.5	$	0.6	$	0.7	$	0.6
Interest Cost	6.7		8.5		10.6		1.6		2.1		2.6
Expected Return on Plan Assets	(12.3)		(14.5)		(16.3)		(5.0)		(5.2)		(5.1)
Amortization of Prior Service Credit	—		—		—		(4.4)		(4.4)		(4.3)
Amortization of Net Actuarial Loss	4.9		4.7		2.9		—		0.3		1.2
Net Periodic Benefit Cost (Credit)	7.3		6.0		3.7		(7.2)		(6.5)		(5.0)
Capitalized Portion	(3.4)		(2.8)		(2.4)		(0.3)		(0.3)		(0.2)
Net Periodic Benefit Cost (Credit) Recognized in Expense	$	3.9	$	3.2	$	1.3	$	(7.5)	$	(6.8)	$	(5.2)


SWEPCo	Pension Plans						OPEB
	Years Ended December 31,
	2021		2020		2019		2021		2020		2019
	(in millions)
Service Cost	$	11.2	$	9.9	$	8.6	$	0.8	$	0.8	$	0.8
Interest Cost	8.5		10.2		12.4		1.9		2.5		3.1
Expected Return on Plan Assets	(13.5)		(15.7)		(17.7)		(6.1)		(6.3)		(5.9)
Amortization of Prior Service Credit	—		—		—		(5.3)		(5.2)		(5.2)
Amortization of Net Actuarial Loss	6.2		5.7		3.4		—		0.4		1.4

Net Periodic Benefit Cost (Credit)	12.4		10.1		6.7		(8.7)		(7.8)		(5.8)
Capitalized Portion	(4.1)		(3.4)		(2.9)		(0.3)		(0.3)		(0.3)
Net Periodic Benefit Cost (Credit) Recognized in Expense	$	8.3	$	6.7	$	3.8	$	(9.0)	$	(8.1)	$	(6.1)

Cost for Matching Contributions to the Retirement Savings Plans


	Year Ended December 31,
Company	2021		2020		2019
	(in millions)
AEP	$	79.9	$	81.8	$	76.4
AEP Texas	6.4		6.4		5.9
APCo	7.6		7.7		7.5
I&M	10.9		11.3		11.0
OPCo	7.2		7.3		6.6
PSO	4.6		4.9		4.6
SWEPCo	6.4		6.7		6.2

Benefit Obligations [Member]

Actuarial Assumptions


	Pension Plans				OPEB
	December 31,
Assumption	2021		2020		2021		2020
Discount Rate	2.90	%	2.50	%	2.90	%	2.55	%
Interest Crediting Rate	4.00	%	4.00	%	NA		NA

NA Not applicable.


	Pension Plans
	December 31,
Assumption – Rate of Compensation Increase (a)	2021		2020
AEP	5.10	%	5.00	%
AEP Texas	5.10	%	5.05	%
APCo	4.85	%	4.85	%
I&M	5.00	%	5.00	%
OPCo	5.30	%	5.25	%
PSO	5.10	%	5.05	%
SWEPCo	4.95	%	4.90	%

(a)Rates are for base pay only. In addition, an amount is added to reflect target incentive compensation for exempt employees and overtime and incentive pay for nonexempt employees.

Benefit Costs [Member]

Actuarial Assumptions


	Pension Plans						OPEB
	Year Ended December 31,
Assumption	2021		2020		2019		2021		2020		2019
Discount Rate	2.50	%	3.25	%	4.30	%	2.55	%	3.30	%	4.30	%
Interest Crediting Rate	4.00	%	4.00	%	4.00	%	NA		NA		NA
Expected Return on Plan Assets	4.75	%	5.75	%	6.25	%	4.75	%	5.50	%	6.25	%

NA Not applicable.


	Pension Plans
	Year Ended December 31,
Assumption – Rate of Compensation Increase (a)	2021		2020		2019
AEP	5.10	%	5.00	%	4.95	%
AEP Texas	5.10	%	5.05	%	5.00	%
APCo	4.85	%	4.85	%	4.75	%
I&M	5.00	%	5.00	%	4.95	%
OPCo	5.30	%	5.25	%	5.20	%
PSO	5.10	%	5.05	%	5.05	%
SWEPCo	4.95	%	4.90	%	4.90	%

(a)Rates are for base pay only. In addition, an amount is added to reflect target incentive compensation for exempt employees and overtime and incentive pay for nonexempt employees.

Pension Plans [Member]

Assets within Fair Value Hierarchy


Asset Class	Level 1		Level 2		Level 3		Other		Total		Year End Allocation
	(in millions)
Equities (a):
Domestic	$	388.9	$	—	$	—	$	—	$	388.9	7.2	%
International	465.7		—		—		—		465.7		8.7	%


Common Collective Trusts (c)	—		—		—		463.9		463.9		8.7	%
Subtotal – Equities	854.6		—		—		463.9		1,318.5		24.6	%

Fixed Income (a):
United States Government and Agency Securities	0.1		1,557.6		—		—		1,557.7		29.1	%
Corporate Debt	—		1,295.9		—		—		1,295.9		24.2	%
Foreign Debt	—		259.4		—		—		259.4		4.8	%
State and Local Government	—		57.1		—		—		57.1		1.1	%
Other – Asset Backed	—		1.3		—		—		1.3		—	%
Subtotal – Fixed Income	0.1		3,171.3		—		—		3,171.4		59.2	%

Infrastructure (c)	—		—		—		92.1		92.1		1.7	%
Real Estate (c)	—		—		—		232.6		232.6		4.4	%
Alternative Investments (c)	—		—		—		448.8		448.8		8.4	%


Cash and Cash Equivalents (c)	—		64.3		—		53.4		117.7		2.2	%
Other – Pending Transactions and Accrued Income (b)	—		—		—		(28.2)		(28.2)		(0.5)	%

Total	$	854.7	$	3,235.6	$	—	$	1,262.6	$	5,352.9	100.0	%

(a)Includes investment securities loaned to borrowers under the securities lending program. See the “Investments Held in Trust for Future Liabilities” section of Note 1 for additional information.

(b)Amounts in “Other” column primarily represent accrued interest, dividend receivables and transactions pending settlement.

(c)Amounts in “Other” column represent investments for which fair value is measured using net asset value per-share.


Asset Class	Level 1		Level 2		Level 3		Other		Total		Year End Allocation
	(in millions)
Equities (a):
Domestic	$	542.3	$	—	$	—	$	—	$	542.3	9.7	%
International	676.3		—		—		—		676.3		12.2	%


Common Collective Trusts (c)	—		—		—		650.0		650.0		11.7	%
Subtotal – Equities	1,218.6		—		—		650.0		1,868.6		33.6	%

Fixed Income (a):

United States Government and Agency Securities	(1.4)		1,134.1		—		—		1,132.7		20.4	%
Corporate Debt	—		1,425.0		—		—		1,425.0		25.6	%
Foreign Debt	—		214.0		—		—		214.0		3.9	%
State and Local Government	—		56.0		—		—		56.0		1.0	%
Other – Asset Backed	—		0.8		—		—		0.8		—	%
Subtotal – Fixed Income	(1.4)		2,829.9		—		—		2,828.5		50.9	%

Infrastructure (c)	—		—		—		91.1		91.1		1.6	%
Real Estate (c)	—		—		—		231.6		231.6		4.2	%
Alternative Investments (c)	—		—		—		431.8		431.8		7.8	%


Cash and Cash Equivalents (c)	—		49.3		—		58.2		107.5		1.9	%
Other – Pending Transactions and Accrued Income (b)	—		—		—		(2.5)		(2.5)		—	%

Total	$	1,217.2	$	2,879.2	$	—	$	1,460.2	$	5,556.6	100.0	%

(b)Amounts in “Other” column primarily represent accrued interest, dividend receivables and transactions pending settlement.

(c)Amounts in “Other” column represent investments for which fair value is measured using net asset value per-share.

Other Postretirement Benefit Plans [Member]

Assets within Fair Value Hierarchy


Asset Class	Level 1		Level 2		Level 3		Other		Total		Year End Allocation
	(in millions)
Equities:
Domestic	$	474.0	$	—	$	—	$	—	$	474.0	23.2	%
International	296.3		—		—		—		296.3		14.5	%

Common Collective Trusts (b)	—		—		—		265.0		265.0		13.0	%
Subtotal – Equities	770.3		—		—		265.0		1,035.3		50.7	%

Fixed Income:
Common Collective Trust – Debt (b)	—		—		—		167.7		167.7		8.2	%
United States Government and Agency Securities	—		222.4		—		—		222.4		10.9	%
Corporate Debt	—		233.2		—		—		233.2		11.4	%
Foreign Debt	—		39.8		—		—		39.8		2.0	%
State and Local Government	91.9		13.6		—		—		105.5		5.1	%

Subtotal – Fixed Income	91.9		509.0		—		167.7		768.6		37.6	%

Trust Owned Life Insurance:
International Equities	—		23.4		—		—		23.4		1.1	%
United States Bonds	—		171.3		—		—		171.3		8.4	%
Subtotal – Trust Owned Life Insurance	—		194.7		—		—		194.7		9.5	%

Cash and Cash Equivalents (b)	33.0		—		—		6.7		39.7		1.9	%
Other – Pending Transactions and Accrued Income (a)	—		—		—		6.0		6.0		0.3	%

Total	$	895.2	$	703.7	$	—	$	445.4	$	2,044.3	100.0	%

(a)Amounts in “Other” column primarily represent accrued interest, dividend receivables and transactions pending settlement.

(b)Amounts in “Other” column represent investments for which fair value is measured using net asset value per-share.


Asset Class	Level 1		Level 2		Level 3		Other		Total		Year End Allocation
	(in millions)
Equities:
Domestic	$	399.9	$	—	$	—	$	—	$	399.9	20.6	%
International	290.7		—		—		—		290.7		14.9	%

Common Collective Trusts (b)	—		—		—		264.7		264.7		13.6	%
Subtotal – Equities	690.6		—		—		264.7		955.3		49.1	%

Fixed Income:
Common Collective Trust – Debt (b)	—		—		—		186.4		186.4		9.6	%
United States Government and Agency Securities	(0.2)		199.7		—		—		199.5		10.2	%
Corporate Debt	—		248.7		—		—		248.7		12.8	%
Foreign Debt	—		34.9		—		—		34.9		1.8	%
State and Local Government	73.9		13.1		—		—		87.0		4.5	%

Subtotal – Fixed Income	73.7		496.4		—		186.4		756.5		38.9	%

Trust Owned Life Insurance:
International Equities	—		64.8		—		—		64.8		3.3	%
United States Bonds	—		135.9		—		—		135.9		7.0	%
Subtotal – Trust Owned Life Insurance	—		200.7		—		—		200.7		10.3	%

Cash and Cash Equivalents (b)	26.3		—		—		5.7		32.0		1.6	%
Other – Pending Transactions and Accrued Income (a)	—		—		—		2.2		2.2		0.1	%

Total	$	790.6	$	697.1	$	—	$	459.0	$	1,946.7	100.0	%

(a)Amounts in “Other” column primarily represent accrued interest, dividend receivables and transactions pending settlement.

(b)Amounts in “Other” column represent investments for which fair value is measured using net asset value per-share.