XML 76 R36.htm IDEA: XBRL DOCUMENT v3.22.2.2
Financing Activities (Tables)
9 Months Ended
Sep. 30, 2022
Long-term Debt
Type of DebtSeptember 30, 2022December 31, 2021
 (in millions)
Senior Unsecured Notes$28,892.7 $27,497.3 
Pollution Control Bonds1,804.9 1,804.5 
Notes Payable218.0 211.3 
Securitization Bonds524.8 603.5 
Spent Nuclear Fuel Obligation (a)283.2 281.3 
Junior Subordinated Notes (b)2,377.3 2,373.0 
Other Long-term Debt949.2 683.6 
Total Long-term Debt Outstanding35,050.1 33,454.5 
Long-term Debt Due Within One Year (c)1,403.5 2,153.8 
Long-term Debt (d)$33,646.6 $31,300.7 

(a)Pursuant to the Nuclear Waste Policy Act of 1982, I&M, a nuclear licensee, has an obligation to the United States Department of Energy for SNF disposal. The obligation includes a one-time fee for nuclear fuel consumed prior to April 7, 1983. Trust fund assets related to this obligation were $326 million and $329 million as of September 30, 2022 and December 31, 2021, respectively, and are included in Spent Nuclear Fuel and Decommissioning Trusts on the balance sheets.
(b)See “Equity Units” section below for additional information.
(c)Amount excludes $215 million and $200 million as of September 30, 2022 and December 31, 2021, respectively, of Long-term Debt Due Within One Year classified as Liabilities Held for Sale on the balance sheet. See “Disposition of KPCo and KTCo” section of Note 6 for additional information.
(d)Amount excludes $963 million and $903 million as of September 30, 2022 and December 31, 2021, respectively, of Long-term Debt classified as Liabilities Held for Sale on the balance sheet. See “Disposition of KPCo and KTCo” section of Note 6 for additional information.
Long-term Debt Issuances
PrincipalInterest
CompanyType of DebtAmount (a)RateDue Date
Issuances: (in millions)(%)
AEP TexasOther Long-term Debt$200.0 Variable2025
AEP TexasSenior Unsecured Notes500.0 4.702032
AEP TexasSenior Unsecured Notes500.0 5.252052
AEPTCoSenior Unsecured Notes550.0 4.502052
APCoOther Long-term Debt100.0 Variable2023
APCoPollution Control Bonds104.4 3.752025
APCoSenior Unsecured Notes500.0 4.502032
I&MNotes Payable72.8 3.442026
PSOOther Long-term Debt500.0 Variable2022
Non-Registrant:
AEGCoPollution Control Bonds45.0 3.132025
KPCoOther Long-term Debt150.0 Variable2023
Transource EnergyOther Long-term Debt5.0 Variable2023
WPCoOther Long-term Debt165.0 Variable2024
WPCoPollution Control Bonds65.0 3.002027
Total Issuances$3,457.2 

(a)Amounts indicated on the statements of cash flows are net of issuance costs and premium or discount and will not tie to the issuance amounts.
Retirements and Principal Payments
PrincipalInterest
CompanyType of DebtAmount PaidRateDue Date
Retirements and Principal Payments:
(in millions)(%)
AEP TexasOther Long-term Debt$200.0 Variable2022
AEP TexasSenior Unsecured Notes400.0 2.402022
AEP TexasSenior Unsecured Notes25.0 3.272022
AEP TexasSecuritization Bonds30.6 2.852024
AEP TexasSecuritization Bonds23.0 2.062025
APCoPollution Control Bonds104.4 2.632022
APCoSecuritization Bonds25.9 2.012023
APCoOther Long-term Debt0.1 13.722026
I&MNotes Payable3.4 Variable2022
I&MNotes Payable1.3 Variable2022
I&MNotes Payable6.7 Variable2023
I&MNotes Payable10.8 Variable2024
I&MNotes Payable18.9 0.932025
I&MNotes Payable13.7 Variable2025
I&MNotes Payable8.0 3.442026
I&MOther Long-term Debt1.7 6.002025
OPCoOther Long-term Debt0.1 1.152028
PSOOther Long-term Debt500.0 Variable2022
PSOOther Long-term Debt0.4 3.002027
SWEPCoOther Long-term Debt1.5 4.682028
SWEPCoNotes Payable3.2 4.582032
Non-Registrant:
AEGCoPollution Control Bonds45.0 1.352022
KPCoOther Long-term Debt75.0 Variable2022
Transource EnergySenior Unsecured Notes2.4 2.752050
WPCoPollution Control Bonds65.0 3.002022
WPCoSenior Unsecured Notes113.0 3.362022
Total Retirements and Principal Payments
$1,679.1 
Utility Money Pool Participants' Money Pool Activity and Authorized Borrowing Limits
MaximumAverageNet Loans to
BorrowingsMaximumBorrowingsAverage(Borrowings) fromAuthorized
from theLoans to thefrom theLoans to thethe Utility MoneyShort-term
UtilityUtilityUtilityUtilityPool as ofBorrowing
CompanyMoney PoolMoney PoolMoney PoolMoney PoolSeptember 30, 2022Limit
 (in millions)
AEP Texas$348.8 $652.3 $208.1 $319.8 $129.5 $500.0 
AEPTCo480.2 137.0 197.4 31.3 78.7 (a)820.0 (b)
APCo438.4 214.2 180.9 52.8 182.1 500.0 
I&M159.1 22.6 86.0 22.1 (82.3)500.0 
OPCo147.2 246.1 59.9 86.9 (68.8)500.0 
PSO338.3 432.5 200.9 402.8 (223.5)400.0 
SWEPCo261.6 156.6 191.0 109.7 (156.3)400.0 

(a)    Amount excludes $5 million of Advances to Affiliates classified as Assets Held for Sale on the AEPTCo balance sheet. See “Dispositions of KPCo and KTCo” section of Note 6 for additional information.
(b)    Amount represents the combined authorized short-term borrowing limit the State Transcos have from FERC or state regulatory commissions.
Nonutility Money Pool Activity
Maximum Loans Average Loans Loans to the Nonutility
to the Nonutility to the Nonutility Money Pool as of
CompanyMoney PoolMoney PoolSeptember 30, 2022
(in millions)
AEP Texas$6.9 $6.8 $6.8 
SWEPCo2.1 2.1 2.1 
Direct Borrowing Activity
Maximum Maximum Average Average Borrowings from Loans toAuthorized
Borrowings Loans Borrowings Loans AEP as of AEP as ofShort-term
from AEP to AEP from AEP to AEP September 30, 2022September 30, 2022Borrowing Limit
(in millions)
$52.4 $141.8 $7.1 $59.6 $33.0 $— $50.0 (a)

(a)    Amount represents the combined authorized short-term borrowing limit the State Transcos have from FERC or state regulatory commissions.
Maximum and Minimum Interest Rates for Funds Either Borrowed from or Loaned to Utility Money Pool
 Nine Months Ended September 30,
20222021
Maximum Interest Rate3.39 %0.40 %
Minimum Interest Rate0.10 %0.02 %
Average Interest Rates for Funds Borrowed from and Loaned to Utility Money Pool
Average Interest Rate for FundsAverage Interest Rate for Funds
Borrowed from the Utility Money PoolLoaned to the Utility Money Pool
for Nine Months Ended September 30,for Nine Months Ended September 30,
Company2022202120222021
AEP Texas0.90 %0.33 %1.82 %0.27 %
AEPTCo1.03 %0.32 %2.14 %0.07 %
APCo1.39 %0.28 %2.13 %0.28 %
I&M1.38 %0.32 %1.46 %0.25 %
OPCo1.81 %0.27 %1.22 %0.15 %
PSO1.70 %0.34 %0.75 %0.06 %
SWEPCo1.67 %0.28 %0.55 %0.38 %
Maximum Minimum Average Interest Rates for Funds Borrowed from Loaned to Nonutility Money Pool
Nine Months Ended September 30, 2022Nine Months Ended September 30, 2021
  Maximum Minimum AverageMaximum Minimum Average
  Interest Rate Interest Rate Interest RateInterest Rate Interest Rate Interest Rate
  for Funds for Funds for Fundsfor Funds for Funds for Funds
 Loaned to Loaned to Loaned toLoaned to Loaned to Loaned to
 the Nonutility the Nonutility the Nonutilitythe Nonutility the Nonutility the Nonutility
Company Money Pool Money Pool Money PoolMoney Pool Money Pool Money Pool
AEP Texas 3.39 %0.46 %1.51 %0.41 %0.21 %0.34 %
SWEPCo 3.39 %0.46 %1.52 %0.41 %0.21 %0.34 %
Maximum Minimum and Average Interest Rates for Funds Borrowed from and Loaned to AEP
 MaximumMinimumMaximumMinimumAverageAverage
 Interest RateInterest RateInterest RateInterest RateInterest RateInterest Rate
Nine Months for Fundsfor Fundsfor Fundsfor Fundsfor Fundsfor Funds
Ended BorrowedBorrowedLoanedLoanedBorrowedLoaned
September 30, from AEP from AEPto AEP to AEP from AEP to AEP
2022 3.39 %0.46 %3.37 %0.46 %1.56 %1.38 %
2021 0.86 %0.25 %0.86 %0.25 %0.35 %0.34 %
Short Term Debt
 September 30, 2022December 31, 2021
OutstandingInterestOutstandingInterest
CompanyType of DebtAmountRate (a)AmountRate (a)
 (dollars in millions)
AEPSecuritized Debt for Receivables (b)$750.0 1.16 %$750.0 0.19 %
AEPCommercial Paper1,952.3 3.38 %1,364.0 0.34 %
AEPTerm Loan— — %500.0 0.81 %
Total Short-term Debt$2,702.3  $2,614.0  

(a)Weighted-average rate.
(b)Amount of securitized debt for receivables as accounted for under the “Transfers and Servicing” accounting guidance.
Comparative Accounts Receivable Information
Three Months Ended September 30,Nine Months Ended September 30,
2022202120222021
(dollars in millions)
Effective Interest Rates on Securitization of Accounts Receivable
2.25 %0.18 %1.16 %0.19 %
Net Uncollectible Accounts Receivable Written-Off$9.5 $7.5 $23.1 $22.6 
Customer Accounts Receivable Managed Portfolio
September 30, 2022December 31, 2021
(in millions)
Accounts Receivable Retained Interest and Pledged as Collateral Less Uncollectible Accounts
$1,172.5 $995.2 
Short-term – Securitized Debt of Receivables750.0 750.0 
Delinquent Securitized Accounts Receivable 57.4 57.9 
Bad Debt Reserves Related to Securitization39.4 42.8 
Unbilled Receivables Related to Securitization252.3 307.1 
Accounts Receivable and Accrued Unbilled Revenues
CompanySeptember 30, 2022December 31, 2021
 (in millions)
APCo$127.5 $153.1 
I&M187.8 156.9 
OPCo476.7 392.7 
PSO188.4 114.5 
SWEPCo217.0 153.0 
Fees Paid to AEP Credit for Customer Accounts Receivable Sold
 Three Months Ended September 30,Nine Months Ended September 30,
Company20222021 (a)20222021 (a)
 (in millions)
APCo$2.8 $1.3 $5.6 $3.7 
I&M2.8 2.1 6.5 5.3 
OPCo7.3 4.6 22.2 3.5 
PSO2.4 1.1 4.6 2.4 
SWEPCo3.2 1.3 6.0 4.1 
(a)In 2020, an increase in allowance for doubtful accounts was recognized in response to the anticipated impact of COVID-19 on the collectability of accounts receivable, which caused an increase in fees paid by the Registrants. In 2021, due to higher than expected collections of accounts receivables, allowance for doubtful accounts was adjusted resulting in the issuance of credits to offset the higher fees previously paid.
Proceeds on Sale of Receivables to AEP Credit
 Three Months Ended September 30,Nine Months Ended September 30,
Company2022202120222021
(in millions)
APCo$360.4 $342.2 $1,114.9 $980.6 
I&M558.5 536.8 1,574.3 1,478.9 
OPCo874.1 668.4 2,284.0 1,867.5 
PSO588.5 460.1 1,380.4 1,068.8 
SWEPCo593.6 488.5 1,425.3 1,265.5