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Benefit Plans
 9 Months Ended
Sep. 30, 2022
Benefit Plans BENEFIT PLANS
The disclosures in this note apply to all Registrants except AEPTCo.

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 PlansOPEB
Three Months Ended September 30,Three Months Ended September 30,
 2022202120222021
 (in millions)
Service Cost$30.7 $32.3 $1.8 $2.4 
Interest Cost37.1 34.3 7.3 7.7 
Expected Return on Plan Assets(63.4)(57.4)(27.5)(22.8)
Amortization of Prior Service Credit— — (17.9)(17.8)
Amortization of Net Actuarial Loss15.8 25.3 — — 
Net Periodic Benefit Cost (Credit)$20.2 $34.5 $(36.3)$(30.5)
Pension PlansOPEB
Nine Months Ended September 30,Nine Months Ended September 30,
 2022202120222021
 (in millions)
Service Cost$92.3 $96.9 $5.5 $7.2 
Interest Cost111.2 102.9 21.9 22.9 
Expected Return on Plan Assets(190.1)(172.3)(82.5)(68.4)
Amortization of Prior Service Credit— — (53.6)(53.2)
Amortization of Net Actuarial Loss47.3 76.1 — — 
Net Periodic Benefit Cost (Credit)$60.7 $103.6 $(108.7)$(91.5)
AEP Texas
Pension PlansOPEB
Three Months Ended September 30,Three Months Ended September 30,
 2022202120222021
 (in millions)
Service Cost$2.8 $3.0 $0.1 $0.2 
Interest Cost3.1 2.8 0.6 0.6 
Expected Return on Plan Assets(5.3)(4.9)(2.3)(1.9)
Amortization of Prior Service Credit— — (1.5)(1.5)
Amortization of Net Actuarial Loss1.2 2.1 — — 
Net Periodic Benefit Cost (Credit)$1.8 $3.0 $(3.1)$(2.6)
Pension PlansOPEB
Nine Months Ended September 30,Nine Months Ended September 30,
 2022202120222021
 (in millions)
Service Cost$8.4 $8.9 $0.3 $0.5 
Interest Cost9.1 8.4 1.7 1.8 
Expected Return on Plan Assets(15.8)(14.6)(6.8)(5.6)
Amortization of Prior Service Credit— — (4.5)(4.5)
Amortization of Net Actuarial Loss3.8 6.2 — — 
Net Periodic Benefit Cost (Credit)$5.5 $8.9 $(9.3)$(7.8)

APCo
Pension PlansOPEB
Three Months Ended September 30,Three Months Ended September 30,
 2022202120222021
 (in millions)
Service Cost$2.9 $3.0 $0.2 $0.3 
Interest Cost4.3 4.1 1.2 1.3 
Expected Return on Plan Assets(8.1)(7.3)(4.1)(3.4)
Amortization of Prior Service Credit— — (2.6)(2.6)
Amortization of Net Actuarial Loss1.9 3.0 — — 
Net Periodic Benefit Cost (Credit)$1.0 $2.8 $(5.3)$(4.4)
Pension PlansOPEB
Nine Months Ended September 30,Nine Months Ended September 30,
 2022202120222021
 (in millions)
Service Cost$8.6 $8.9 $0.6 $0.8 
Interest Cost13.1 12.3 3.5 3.7 
Expected Return on Plan Assets(24.3)(21.8)(12.2)(10.1)
Amortization of Prior Service Credit— — (7.8)(7.8)
Amortization of Net Actuarial Loss5.5 9.0 — — 
Net Periodic Benefit Cost (Credit)$2.9 $8.4 $(15.9)$(13.4)
I&M
Pension PlansOPEB
Three Months Ended September 30,Three Months Ended September 30,
 2022202120222021
 (in millions)
Service Cost$4.0 $4.4 $0.2 $0.4 
Interest Cost4.3 4.0 0.8 0.8 
Expected Return on Plan Assets(8.1)(7.2)(3.3)(2.7)
Amortization of Prior Service Credit— — (2.4)(2.5)
Amortization of Net Actuarial Loss1.8 2.9 — — 
Net Periodic Benefit Cost (Credit)$2.0 $4.1 $(4.7)$(4.0)
Pension PlansOPEB
Nine Months Ended September 30,Nine Months Ended September 30,
 2022202120222021
 (in millions)
Service Cost$12.1 $13.1 $0.7 $1.0 
Interest Cost12.7 12.1 2.5 2.6 
Expected Return on Plan Assets(24.2)(21.6)(10.2)(8.3)
Amortization of Prior Service Credit— — (7.3)(7.3)
Amortization of Net Actuarial Loss5.3 8.8 — — 
Net Periodic Benefit Cost (Credit)$5.9 $12.4 $(14.3)$(12.0)

OPCo
Pension PlansOPEB
Three Months Ended September 30,Three Months Ended September 30,
 2022202120222021
 (in millions)
Service Cost$2.8 $2.9 $0.2 $0.2 
Interest Cost3.4 3.1 0.7 0.7 
Expected Return on Plan Assets(6.2)(5.7)(3.0)(2.4)
Amortization of Prior Service Credit— — (1.8)(1.7)
Amortization of Net Actuarial Loss1.3 2.3 — — 
Net Periodic Benefit Cost (Credit)$1.3 $2.6 $(3.9)$(3.2)
Pension PlansOPEB
Nine Months Ended September 30,Nine Months Ended September 30,
 2022202120222021
 (in millions)
Service Cost$8.4 $8.6 $0.5 $0.6 
Interest Cost10.0 9.3 2.2 2.3 
Expected Return on Plan Assets(18.6)(16.8)(8.9)(7.3)
Amortization of Prior Service Credit— — (5.4)(5.3)
Amortization of Net Actuarial Loss4.1 6.8 — — 
Net Periodic Benefit Cost (Credit)$3.9 $7.9 $(11.6)$(9.7)
PSO
Pension PlansOPEB
Three Months Ended September 30,Three Months Ended September 30,
 2022202120222021
 (in millions)
Service Cost$1.8 $2.0 $0.2 $0.1 
Interest Cost1.8 1.7 0.4 0.4 
Expected Return on Plan Assets(3.3)(3.0)(1.6)(1.3)
Amortization of Prior Service Credit— — (1.1)(1.1)
Amortization of Net Actuarial Loss0.7 1.2 — — 
Net Periodic Benefit Cost (Credit)$1.0 $1.9 $(2.1)$(1.9)
Pension PlansOPEB
Nine Months Ended September 30,Nine Months Ended September 30,
 2022202120222021
 (in millions)
Service Cost$5.5 $6.0 $0.4 $0.4 
Interest Cost5.3 5.0 1.1 1.2 
Expected Return on Plan Assets(10.1)(9.2)(4.6)(3.8)
Amortization of Prior Service Credit— — (3.3)(3.3)
Amortization of Net Actuarial Loss2.2 3.7 — — 
Net Periodic Benefit Cost (Credit)$2.9 $5.5 $(6.4)$(5.5)

SWEPCo
Pension PlansOPEB
Three Months Ended September 30,Three Months Ended September 30,
 2022202120222021
 (in millions)
Service Cost$2.7 $2.7 $0.1 $0.3 
Interest Cost2.2 2.2 0.5 0.4 
Expected Return on Plan Assets(3.6)(3.3)(1.8)(1.5)
Amortization of Prior Service Credit— — (1.4)(1.4)
Amortization of Net Actuarial Loss0.9 1.5 — — 
Net Periodic Benefit Cost (Credit)$2.2 $3.1 $(2.6)$(2.2)
Pension PlansOPEB
Nine Months Ended September 30,Nine Months Ended September 30,
 2022202120222021
 (in millions)
Service Cost$8.0 $8.4 $0.4 $0.6 
Interest Cost6.8 6.4 1.4 1.4 
Expected Return on Plan Assets(10.9)(10.1)(5.5)(4.5)
Amortization of Prior Service Credit— — (4.0)(4.0)
Amortization of Net Actuarial Loss2.8 4.6 — — 
Net Periodic Benefit Cost (Credit)$6.7 $9.3 $(7.7)$(6.5)