XML 46 R6.htm IDEA: XBRL DOCUMENT v3.22.2.2
Condensed Consolidated Statements of Cash Flows
$ in Millions
9 Months Ended
Sep. 30, 2022
USD ($)
$ / shares
Sep. 30, 2021
USD ($)
Operating Activities    
Net Income (Loss) $ 1,922.2 $ 1,949.5
Adjustments to Reconcile Net Income to Net Cash Flows from (Used for) Operating Activities:    
Depreciation and Amortization 2,416.8 2,103.9
Deferred Income Taxes 16.6 191.1
Other Asset Impairment Charges 24.9 0.0
Loss on the Expected Sale of the Kentucky Operations 24.9 0.0
Allowance for Equity Funds Used During Construction (95.2) (103.9)
Mark-to-Market of Risk Management Contracts 162.3 101.0
Property Taxes 459.9 415.1
Establishment of Regulatory Asset (37.0) 0.0
Deferred Fuel Over/Under-Recovery, Net (148.7) (1,356.8)
Gain (Loss) on Disposition of Assets (116.3) 0.0
Change in Other Noncurrent Assets (6.0) (108.0)
Change in Other Noncurrent Liabilities 324.0 162.7
Changes in Certain Components of Working Capital:    
Accounts Receivable, Net (495.7) (199.2)
Fuel, Materials and Supplies (134.6) 347.4
Accounts Payable 369.4 107.6
Accrued Taxes, Net (512.8) (471.1)
Other Current Assets 41.2 (33.3)
Other Current Liabilities 90.9 (133.0)
Net Cash Flows from (Used for) Operating Activities 4,733.2 2,973.0
Investing Activities    
Construction Expenditures (4,748.5) (4,087.0)
Purchases of Investment Securities (1,868.2) (1,612.3)
Sales of Investment Securities 1,833.4 1,571.7
Acquisitions of Nuclear Fuel (91.9) (63.2)
Proceeds from Sale of Property, Plant, and Equipment 215.7 17.4
Other Investing Activities 44.3 34.4
Net Cash Flows from (Used for) Investing Activities (5,822.5) (4,906.2)
Financing Activities    
Issuance of Common Stock 827.2 548.0
Issuance of Long-term Debt 3,428.4 5,062.3
Issuance of Short-term Debt with Original Maturities greater than 90 Days 271.0 1,178.5
Change in Short-term Debt with Original Maturities less than 90 Days, Net 803.4 (632.5)
Retirement of Long-term Debt (1,679.1) (1,549.8)
Redemption of Short-term Debt with Original Maturities Greater than 90 Days (986.1) (521.3)
Principal Payments for Finance Leases Obligations (120.3) (45.3)
Dividends Paid on Common Stock (1,212.5) (1,122.7)
Other Financing Activities (116.8) 4.4
Net Cash Flows from (Used for) Financing Activities 1,215.2 2,921.6
Net Increase (Decrease) in Cash, Cash Equivalents and Restricted Cash 125.9 988.4
Cash, Cash Equivalents and Restricted Cash at Beginning of Period 451.4 438.3
Cash and Cash Equivalents at Beginning of Period 403.4  
Cash, Cash Equivalents and Restricted Cash at End of Period 577.3 1,426.7
Cash and Cash Equivalents at End of Period 522.2  
Supplementary Information    
Cash Paid for Interest, Net of Capitalized Amounts 856.8 775.2
Net Cash Paid (Received) for Income Taxes 104.1 9.3
Lease Obligation Incurred 22.3 23.0
Construction Expenditures Included in Noncurrent Liabilities as of March 31, 985.8 764.1
Acquisition of Nuclear Fuel Included in Current Liabilities as of March 31, 8.5 0.3
Commitment from Bank Conduits to Finance Receivables 125.0  
Commitment from Bank Conduits to Finance Receivables Two $ 625.0  
2020 Equity Units [Member] | Maximum [Member]    
Supplementary Information    
AEP Share Price for Equity Unit Conversion | $ / shares $ 99.95  
Dry Lake Solar Project    
Investing Activities    
Acquisitions of Assets $ 0.0 (114.4)
Supplementary Information    
Noncontrolling Interest Assumed - Dry Lake Solar Project 0.0 35.0
North Central Wind Energy Facilities    
Investing Activities    
Acquisitions of Assets (1,207.3) (652.8)
Mineral Rights    
Adjustments to Reconcile Net Income to Net Cash Flows from (Used for) Operating Activities:    
Gain (Loss) on Disposition of Assets (116.3) 0.0
Kentucky Power Co [Member]    
Adjustments to Reconcile Net Income to Net Cash Flows from (Used for) Operating Activities:    
Loss on the Expected Sale of the Kentucky Operations 263.3 0.0
Flat Ridge II    
Adjustments to Reconcile Net Income to Net Cash Flows from (Used for) Operating Activities:    
Impairment of Equity Method Investment 188.0 0.0
Cedar Creek Project    
Supplementary Information    
Noncash Contribution of Assets to Cedar Creek Project 0.0 (9.3)
AEP Texas Inc. [Member]    
Operating Activities    
Net Income (Loss) 253.2 225.4
Adjustments to Reconcile Net Income to Net Cash Flows from (Used for) Operating Activities:    
Depreciation and Amortization 342.7 287.1
Deferred Income Taxes 35.1 45.8
Allowance for Equity Funds Used During Construction (13.2) (16.7)
Mark-to-Market of Risk Management Contracts (0.2) 0.0
Change in Other Noncurrent Assets (48.4) (73.4)
Change in Other Noncurrent Liabilities 49.2 17.5
Changes in Certain Components of Working Capital:    
Accounts Receivable, Net (57.5) (40.2)
Fuel, Materials and Supplies (39.9) (2.5)
Accounts Payable 16.0 (10.9)
Accrued Taxes, Net 39.4 29.5
Other Current Assets 1.0 (2.0)
Other Current Liabilities 12.2 (5.0)
Net Cash Flows from (Used for) Operating Activities 589.6 454.6
Investing Activities    
Construction Expenditures (949.8) (742.4)
Change in Advances to Affiliates, Net (129.4) (47.5)
Other Investing Activities 26.7 29.6
Net Cash Flows from (Used for) Investing Activities (1,052.5) (760.3)
Financing Activities    
Capital Contributions from Parent 1.8 0.0
Issuance of Long-term Debt 1,188.7 444.2
Change in Advances from Affiliates, Net (26.9) (67.1)
Retirement of Long-term Debt (678.6) (52.2)
Principal Payments for Finance Leases Obligations (5.1) (5.0)
Other Financing Activities 0.3 1.0
Net Cash Flows from (Used for) Financing Activities 480.2 320.9
Net Increase (Decrease) in Cash, Cash Equivalents and Restricted Cash 17.3 15.2
Cash, Cash Equivalents and Restricted Cash at Beginning of Period 30.5 28.8
Cash and Cash Equivalents at Beginning of Period 0.1  
Cash, Cash Equivalents and Restricted Cash at End of Period 47.8 44.0
Cash and Cash Equivalents at End of Period 0.1  
Supplementary Information    
Cash Paid for Interest, Net of Capitalized Amounts 121.1 110.0
Net Cash Paid (Received) for Income Taxes 10.0 (8.4)
Noncash Acquisitions Under Finance Leases 4.1 3.3
Construction Expenditures Included in Current Liabilities as of March 31, 156.0 134.9
AEP Transmission Co [Member]    
Operating Activities    
Net Income (Loss) 426.6 445.7
Adjustments to Reconcile Net Income to Net Cash Flows from (Used for) Operating Activities:    
Depreciation and Amortization 256.2 219.0
Deferred Income Taxes 60.6 46.8
Allowance for Equity Funds Used During Construction (51.2) (49.3)
Property Taxes 170.0 154.0
Provision for Refund Affiliated 65.7 17.7
Change in Other Noncurrent Assets 4.0 2.3
Change in Other Noncurrent Liabilities 55.0 8.3
Changes in Certain Components of Working Capital:    
Accounts Receivable, Net (66.4) (23.6)
Fuel, Materials and Supplies (2.4) (0.5)
Accounts Payable 53.1 (10.7)
Accrued Taxes, Net (194.0) (138.8)
Other Current Assets (1.2) 0.5
Other Current Liabilities 27.2 22.7
Net Cash Flows from (Used for) Operating Activities 737.5 676.4
Investing Activities    
Construction Expenditures (1,059.3) (1,070.8)
Change in Advances to Affiliates, Net (84.1) 29.9
Other Investing Activities (5.3) (7.9)
Net Cash Flows from (Used for) Investing Activities (1,148.7) (1,048.8)
Financing Activities    
Capital Contributions from Parent 64.2 184.0
Issuance of Long-term Debt 540.9 443.7
Change in Advances from Affiliates, Net (63.9) (142.8)
Dividends Paid on Common Stock (130.0) (112.5)
Net Cash Flows from (Used for) Financing Activities 411.2 372.4
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect 0.0 0.0
Cash and Cash Equivalents at Beginning of Period 0.0 0.0
Cash and Cash Equivalents at End of Period 0.0 0.0
Supplementary Information    
Cash Paid for Interest, Net of Capitalized Amounts 88.6 75.8
Net Cash Paid (Received) for Income Taxes 53.2 37.6
Construction Expenditures Included in Current Liabilities as of March 31, 240.5 206.8
Appalachian Power Co [Member]    
Operating Activities    
Net Income (Loss) 303.1 275.1
Adjustments to Reconcile Net Income to Net Cash Flows from (Used for) Operating Activities:    
Depreciation and Amortization 431.0 406.6
Deferred Income Taxes 70.7 (12.0)
Other Asset Impairment Charges 24.9 0.0
Loss on the Expected Sale of the Kentucky Operations 24.9 0.0
Allowance for Equity Funds Used During Construction (6.8) (12.1)
Mark-to-Market of Risk Management Contracts (65.6) (26.8)
Establishment of Regulatory Asset (37.0) 0.0
Deferred Fuel Over/Under-Recovery, Net (400.2) (43.9)
Change in Other Noncurrent Assets (15.2) (39.2)
Change in Other Noncurrent Liabilities 39.7 20.2
Changes in Certain Components of Working Capital:    
Accounts Receivable, Net 68.7 38.1
Fuel, Materials and Supplies (61.7) 126.3
Increase (Decrease) in Margin Deposits Outstanding 65.8 (15.8)
Accounts Payable 141.4 26.5
Accrued Taxes, Net (98.9) (48.0)
Other Current Assets (4.2) (4.9)
Other Current Liabilities 42.2 0.5
Net Cash Flows from (Used for) Operating Activities 497.9 690.6
Investing Activities    
Construction Expenditures (707.4) (586.4)
Change in Advances to Affiliates, Net (161.3) (163.8)
Other Investing Activities 34.9 12.4
Net Cash Flows from (Used for) Investing Activities (833.8) (737.8)
Financing Activities    
Capital Contributions from Parent 4.3 0.0
Issuance of Long-term Debt 698.2 494.0
Change in Advances from Affiliates, Net (199.3) (18.6)
Retirement of Long-term Debt (130.4) (393.0)
Principal Payments for Finance Leases Obligations (5.9) (5.8)
Dividends Paid on Common Stock (37.5) (37.5)
Other Financing Activities 0.5 0.5
Net Cash Flows from (Used for) Financing Activities 329.9 39.6
Net Increase (Decrease) in Cash, Cash Equivalents and Restricted Cash (6.0) (7.6)
Cash, Cash Equivalents and Restricted Cash at Beginning of Period 20.1 22.7
Cash and Cash Equivalents at Beginning of Period 2.5  
Cash, Cash Equivalents and Restricted Cash at End of Period 14.1 15.1
Cash and Cash Equivalents at End of Period 6.7  
Supplementary Information    
Cash Paid for Interest, Net of Capitalized Amounts 128.3 124.2
Net Cash Paid (Received) for Income Taxes 14.2 52.6
Noncash Acquisitions Under Finance Leases 1.0 1.3
Construction Expenditures Included in Current Liabilities as of March 31, 160.4 92.3
Indiana Michigan Power Co [Member]    
Operating Activities    
Net Income (Loss) 250.8 232.1
Adjustments to Reconcile Net Income to Net Cash Flows from (Used for) Operating Activities:    
Depreciation and Amortization 400.2 328.7
Rockport Plant, Unit 2 Operating Lease Amortization 0.0 51.1
Deferred Income Taxes (15.8) (36.6)
Amortization (Deferral) of Incremental Nuclear Refueling Outage Expenses, Net (35.2) (2.5)
Allowance for Equity Funds Used During Construction (7.9) (9.7)
Mark-to-Market of Risk Management Contracts (13.2) 0.5
Amortization of Nuclear Fuel 63.1 61.9
Deferred Fuel Over/Under-Recovery, Net (20.5) (18.0)
Change in Other Noncurrent Assets 12.5 7.3
Change in Other Noncurrent Liabilities 42.1 (10.2)
Changes in Certain Components of Working Capital:    
Accounts Receivable, Net 5.3 18.2
Fuel, Materials and Supplies 3.1 43.0
Accounts Payable 19.6 20.1
Accrued Taxes, Net (17.0) (20.3)
Operating Lease, Payments 0.0 (36.9)
Other Current Assets 19.3 (0.7)
Other Current Liabilities (63.6) (28.0)
Net Cash Flows from (Used for) Operating Activities 642.8 600.0
Investing Activities    
Construction Expenditures (407.4) (370.2)
Change in Advances to Affiliates, Net (1.1) (67.3)
Purchases of Investment Securities (1,854.8) (1,586.3)
Sales of Investment Securities 1,818.4 1,556.6
Acquisitions of Nuclear Fuel (91.9) (63.2)
Other Investing Activities 8.0 12.9
Net Cash Flows from (Used for) Investing Activities (528.8) (517.5)
Financing Activities    
Capital Contributions from Parent 1.9 0.0
Issuance of Long-term Debt 72.8 507.0
Change in Advances from Affiliates, Net 11.6 (103.0)
Retirement of Long-term Debt (64.5) (307.2)
Principal Payments for Finance Leases Obligations (41.6) (4.9)
Dividends Paid on Common Stock (70.0) (175.0)
Other Financing Activities 0.3 0.5
Net Cash Flows from (Used for) Financing Activities (89.5) (82.6)
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect 24.5 (0.1)
Cash and Cash Equivalents at Beginning of Period 1.3 3.3
Cash and Cash Equivalents at End of Period 25.8 3.2
Supplementary Information    
Cash Paid for Interest, Net of Capitalized Amounts 101.6 93.9
Net Cash Paid (Received) for Income Taxes (4.1) 11.8
Noncash Acquisitions Under Finance Leases 0.8 3.1
Construction Expenditures Included in Current Liabilities as of March 31, 68.1 59.0
Acquisition of Nuclear Fuel Included in Current Liabilities as of March 31, 8.5 0.3
Ohio Power Co [Member]    
Operating Activities    
Net Income (Loss) 229.9 198.6
Adjustments to Reconcile Net Income to Net Cash Flows from (Used for) Operating Activities:    
Depreciation and Amortization 216.9 228.6
Deferred Income Taxes 29.3 29.3
Carrying Costs Income (0.2) (1.1)
Allowance for Equity Funds Used During Construction (10.3) (7.6)
Mark-to-Market of Risk Management Contracts (49.6) (19.9)
Property Taxes 264.7 234.9
Change in Other Noncurrent Assets (19.7) (1.1)
Change in Other Noncurrent Liabilities 82.5 4.6
Changes in Certain Components of Working Capital:    
Accounts Receivable, Net (27.0) 20.7
Fuel, Materials and Supplies (11.6) (0.6)
Accounts Payable 87.6 (19.1)
Increase (Decrease) in Contract with Customer, Liability 37.4 68.4
Accrued Taxes, Net (344.5) (289.7)
Other Current Assets 11.3 (7.8)
Other Current Liabilities 25.7 5.8
Net Cash Flows from (Used for) Operating Activities 522.6 445.1
Investing Activities    
Construction Expenditures (600.6) (536.6)
Change in Advances to Affiliates, Net 42.0 (622.9)
Other Investing Activities 21.3 10.7
Net Cash Flows from (Used for) Investing Activities (537.3) (1,148.8)
Financing Activities    
Capital Contributions from Parent 1.0 0.0
Issuance of Long-term Debt 0.0 1,037.5
Change in Advances from Affiliates, Net 68.8 (259.2)
Retirement of Long-term Debt (0.1) (0.1)
Principal Payments for Finance Leases Obligations (3.6) (3.7)
Dividends Paid on Common Stock (45.0) (71.9)
Other Financing Activities 0.8 0.5
Net Cash Flows from (Used for) Financing Activities 21.9 703.1
Net Increase (Decrease) in Cash, Cash Equivalents and Restricted Cash 7.2 (0.6)
Cash, Cash Equivalents and Restricted Cash at Beginning of Period 3.0 7.4
Cash and Cash Equivalents at Beginning of Period 3.0  
Cash, Cash Equivalents and Restricted Cash at End of Period 10.2 6.8
Cash and Cash Equivalents at End of Period 10.2  
Supplementary Information    
Cash Paid for Interest, Net of Capitalized Amounts 75.8 78.6
Net Cash Paid (Received) for Income Taxes 24.2 0.3
Noncash Acquisitions Under Finance Leases 2.1 1.4
Construction Expenditures Included in Current Liabilities as of March 31, 108.3 66.5
Public Service Co Of Oklahoma [Member]    
Operating Activities    
Net Income (Loss) 155.7 136.6
Adjustments to Reconcile Net Income to Net Cash Flows from (Used for) Operating Activities:    
Depreciation and Amortization 172.7 149.0
Deferred Income Taxes (20.0) 109.8
Mark-to-Market of Risk Management Contracts (36.1) (8.2)
Property Taxes (12.2) (10.9)
Deferred Fuel Over/Under-Recovery, Net 454.0 (776.4)
Change in Other Noncurrent Assets (18.1) (14.3)
Change in Other Noncurrent Liabilities 15.8 4.5
Changes in Certain Components of Working Capital:    
Accounts Receivable, Net (66.3) (13.4)
Fuel, Materials and Supplies (25.8) 9.9
Accounts Payable 150.8 16.4
Accrued Taxes, Net (20.9) 9.3
Other Current Assets (19.2) (5.9)
Other Current Liabilities 11.0 (18.4)
Net Cash Flows from (Used for) Operating Activities 741.4 (412.0)
Investing Activities    
Construction Expenditures (322.6) (219.6)
Change in Advances to Affiliates, Net 0.0 (59.5)
Acquisitions of Assets 549.3 297.0
Other Investing Activities 2.9 1.9
Net Cash Flows from (Used for) Investing Activities (869.0) (574.2)
Financing Activities    
Capital Contributions from Parent 3.3 625.0
Issuance of Long-term Debt 499.7 1,290.0
Change in Advances from Affiliates, Net 151.2 (155.4)
Retirement of Long-term Debt (500.4) (750.4)
Principal Payments for Finance Leases Obligations (2.4) (2.5)
Dividends Paid on Common Stock (20.0) (20.0)
Other Financing Activities 0.4 0.5
Net Cash Flows from (Used for) Financing Activities 131.8 987.2
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect 4.2 1.0
Cash and Cash Equivalents at Beginning of Period 1.3 2.6
Cash and Cash Equivalents at End of Period 5.5 3.6
Supplementary Information    
Cash Paid for Interest, Net of Capitalized Amounts 63.1 42.9
Net Cash Paid (Received) for Income Taxes 21.9 (101.2)
Noncash Acquisitions Under Finance Leases 1.7 3.1
Construction Expenditures Included in Current Liabilities as of March 31, 50.1 44.2
Southwestern Electric Power Co [Member]    
Operating Activities    
Net Income (Loss) 263.3 210.7
Adjustments to Reconcile Net Income to Net Cash Flows from (Used for) Operating Activities:    
Depreciation and Amortization 251.8 217.4
Deferred Income Taxes 7.5 22.5
Allowance for Equity Funds Used During Construction (3.4) (5.4)
Mark-to-Market of Risk Management Contracts (27.6) (18.1)
Property Taxes (22.0) (20.0)
Deferred Fuel Over/Under-Recovery, Net (82.0) (506.8)
Change in Regulatory Assets 3.1 (91.5)
Change in Other Noncurrent Assets 52.0 38.3
Change in Other Noncurrent Liabilities 17.3 40.0
Changes in Certain Components of Working Capital:    
Accounts Receivable, Net (17.9) (70.2)
Fuel, Materials and Supplies 23.5 115.1
Accounts Payable 78.9 (21.1)
Accrued Taxes, Net (1.1) 72.2
Other Current Assets (12.0) 4.2
Other Current Liabilities (38.1) (48.2)
Net Cash Flows from (Used for) Operating Activities 493.3 (60.9)
Investing Activities    
Construction Expenditures (397.0) (277.2)
Change in Advances to Affiliates, Net 153.8 0.0
Acquisitions of Assets 658.0 355.8
Other Investing Activities 3.9 2.1
Net Cash Flows from (Used for) Investing Activities (897.3) (630.9)
Financing Activities    
Capital Contributions from Parent 353.3 280.0
Issuance of Long-term Debt 0.0 496.4
Change in Short-term Debt with Original Maturities less than 90 Days, Net 0.0 (35.0)
Change in Advances from Affiliates, Net 156.3 (1.7)
Retirement of Long-term Debt (4.7) (4.7)
Principal Payments for Finance Leases Obligations (8.0) (8.1)
Dividends Paid on Common Stock (57.5) 0.0
Dividends Paid on Common Stock (2.6) (3.8)
Other Financing Activities 0.4 0.5
Net Cash Flows from (Used for) Financing Activities 437.2 723.6
Net Increase (Decrease) in Cash, Cash Equivalents and Restricted Cash 33.2 31.8
Cash and Cash Equivalents at Beginning of Period 51.2 13.2
Cash and Cash Equivalents at End of Period 84.4 45.0
Supplementary Information    
Cash Paid for Interest, Net of Capitalized Amounts 102.1 98.0
Net Cash Paid (Received) for Income Taxes 34.7 (11.3)
Noncash Acquisitions Under Finance Leases 3.2 4.4
Construction Expenditures Included in Current Liabilities as of March 31, $ 71.8 $ 46.8