XML 46 R6.htm IDEA: XBRL DOCUMENT v3.23.3
Condensed Consolidated Statements of Cash Flows
$ in Millions
9 Months Ended
Sep. 30, 2023
USD ($)
Sep. 30, 2022
USD ($)
Operating Activities    
Net Income (Loss) $ 1,874.8 $ 1,922.2
Adjustments to Reconcile Net Income to Net Cash Flows from (Used for) Operating Activities:    
Depreciation and Amortization 2,309.4 2,416.8
Deferred Income Taxes 171.5 16.6
Other Asset Impairment Charges 0.0 24.9
Loss on the Expected/Completed Sale 0.0 24.9
Allowance for Equity Funds Used During Construction (123.4) (95.2)
Mark-to-Market of Risk Management Contracts (82.8) 162.3
Property Taxes 486.1 459.9
Establishment of Regulatory Asset 0.0 (37.0)
Deferred Fuel Over/Under-Recovery, Net 542.8 (148.7)
Change in Other Noncurrent Assets (396.8) (6.0)
Change in Other Noncurrent Liabilities (21.5) 324.0
Changes in Certain Components of Working Capital:    
Accounts Receivable, Net 114.0 (495.7)
Fuel, Materials and Supplies (344.4) (134.6)
Accounts Payable (163.0) 369.4
Accrued Taxes, Net (566.7) (512.8)
Other Current Assets (91.5) 41.2
Other Current Liabilities (144.8) 90.9
Net Cash Flows from (Used for) Operating Activities 3,675.7 4,733.2
Investing Activities    
Construction Expenditures (5,767.1) (4,748.5)
Purchases of Investment Securities (2,199.7) (1,868.2)
Sales of Investment Securities 2,140.1 1,833.4
Acquisitions of Nuclear Fuel (60.9) (91.9)
Proceeds from Sale of Property, Plant, and Equipment 1,335.6 215.7
Other Investing Activities 62.5 44.3
Net Cash Flows from (Used for) Investing Activities (4,643.5) (5,822.5)
Financing Activities    
Issuance of Common Stock 959.3 827.2
Issuance of Long-term Debt 4,017.8 3,428.4
Issuance of Short-term Debt with Original Maturities greater than 90 Days 791.7 271.0
Change in Short-term Debt with Original Maturities less than 90 Days, Net (1,044.7) 803.4
Retirement of Long-term Debt (1,353.3) (1,679.1)
Redemption of Short-term Debt with Original Maturities Greater than 90 Days (1,128.8) (986.1)
Principal Payments for Finance Leases Obligations (53.9) (120.3)
Dividends Paid on Common Stock (1,293.8) (1,212.5)
Other Financing Activities (75.9) (116.8)
Net Cash Flows from (Used for) Financing Activities 818.4 1,215.2
Net Increase (Decrease) in Cash and Cash Equivalents (149.4) 125.9
Cash, Cash Equivalents and Restricted Cash at Beginning of Period 556.5 451.4
Cash and Cash Equivalents at Beginning of Period 509.4  
Cash, Cash Equivalents and Restricted Cash at End of Period 407.1 577.3
Cash and Cash Equivalents at End of Period 353.3  
Supplementary Information    
Cash Paid for Interest, Net of Capitalized Amounts 1,148.7 856.8
Net Cash Paid (Received) for Income Taxes 26.7 104.1
Noncash Acquisitions Under Finance Leases 38.5 22.3
Construction Expenditures Included in Noncurrent Liabilities as of September 30, 975.0 985.8
Acquisition of Nuclear Fuel Included in Current Liabilities as of March 31, 9.5 8.5
Commitment from Bank Conduits to Finance Receivables 750.0  
2020 Equity Units [Member]    
Financing Activities    
Issuance of Common Stock 850.0  
Mineral Rights    
Adjustments to Reconcile Net Income to Net Cash Flows from (Used for) Operating Activities:    
Gain on Sale of Mineral Rights 0.0 (116.3)
Kentucky Power Co [Member]    
Adjustments to Reconcile Net Income to Net Cash Flows from (Used for) Operating Activities:    
Loss on the Expected/Completed Sale 0.0 263.3
Flat Ridge II    
Adjustments to Reconcile Net Income to Net Cash Flows from (Used for) Operating Activities:    
Impairment of Equity Method Investment 0.0 188.0
Competitive Contracted Renewable Portfolio    
Adjustments to Reconcile Net Income to Net Cash Flows from (Used for) Operating Activities:    
Loss on the Expected/Completed Sale 112.0 0.0
Renewable Energy Facilities    
Investing Activities    
Acquisitions of Assets (154.0) (1,207.3)
AEP Texas Inc. [Member]    
Operating Activities    
Net Income (Loss) 282.2 253.2
Adjustments to Reconcile Net Income to Net Cash Flows from (Used for) Operating Activities:    
Depreciation and Amortization 351.5 342.7
Deferred Income Taxes 64.2 35.1
Allowance for Equity Funds Used During Construction (19.4) (13.2)
Mark-to-Market of Risk Management Contracts 0.0 (0.2)
Change in Other Noncurrent Assets (118.0) (48.4)
Change in Other Noncurrent Liabilities 26.7 49.2
Changes in Certain Components of Working Capital:    
Accounts Receivable, Net (81.8) (57.5)
Fuel, Materials and Supplies (32.1) (39.9)
Accounts Payable 0.7 16.0
Accrued Taxes, Net 39.7 39.4
Other Current Assets (0.7) 1.0
Other Current Liabilities (9.9) 12.2
Net Cash Flows from (Used for) Operating Activities 503.1 589.6
Investing Activities    
Construction Expenditures (1,175.1) (949.8)
Change in Advances to Affiliates, Net (42.1) (129.4)
Other Investing Activities 42.2 26.7
Net Cash Flows from (Used for) Investing Activities (1,175.0) (1,052.5)
Financing Activities    
Capital Contributions from Parent 525.8 1.8
Return of Capital to Parent Cash Flows (4.3) 0.0
Issuance of Long-term Debt 505.4 1,188.7
Change in Advances from Affiliates, Net (96.5) (26.9)
Retirement of Long-term Debt (240.0) (678.6)
Principal Payments for Finance Leases Obligations (5.5) (5.1)
Other Financing Activities 1.2 0.3
Net Cash Flows from (Used for) Financing Activities 686.1 480.2
Net Increase (Decrease) in Cash and Cash Equivalents 14.2 17.3
Cash, Cash Equivalents and Restricted Cash at Beginning of Period 32.8 30.5
Cash and Cash Equivalents at Beginning of Period 0.1  
Cash, Cash Equivalents and Restricted Cash at End of Period 47.0 47.8
Cash and Cash Equivalents at End of Period 0.1  
Supplementary Information    
Cash Paid for Interest, Net of Capitalized Amounts 135.9 121.1
Net Cash Paid (Received) for Income Taxes 4.3 10.0
Noncash Acquisitions Under Finance Leases 3.7 4.1
Construction Expenditures Included in Current Liabilities as of September 30, 153.6 156.0
AEP Transmission Co [Member]    
Operating Activities    
Net Income (Loss) 517.6 426.6
Adjustments to Reconcile Net Income to Net Cash Flows from (Used for) Operating Activities:    
Depreciation and Amortization 291.2 256.2
Deferred Income Taxes 64.2 60.6
Allowance for Equity Funds Used During Construction (62.2) (51.2)
Property Taxes 184.4 170.0
Provision for Refund Affiliated 17.9 65.7
Change in Other Noncurrent Assets 5.8 4.0
Change in Other Noncurrent Liabilities 7.7 55.0
Changes in Certain Components of Working Capital:    
Accounts Receivable, Net (37.1) (66.4)
Fuel, Materials and Supplies 10.4 (2.4)
Accounts Payable 25.0 53.1
Accrued Taxes, Net (202.2) (194.0)
Other Current Assets (1.0) (1.2)
Other Current Liabilities 21.7 27.2
Net Cash Flows from (Used for) Operating Activities 825.5 737.5
Investing Activities    
Construction Expenditures (1,224.9) (1,059.3)
Change in Advances to Affiliates, Net (86.2) (84.1)
Other Investing Activities 4.8 (5.3)
Net Cash Flows from (Used for) Investing Activities (1,306.3) (1,148.7)
Financing Activities    
Capital Contributions from Parent 27.9 64.2
Return of Capital to Parent Cash Flows (8.6) 0.0
Issuance of Long-term Debt 689.0 540.9
Change in Advances from Affiliates, Net (112.5) (63.9)
Dividends Paid on Common Stock (115.0) (130.0)
Net Cash Flows from (Used for) Financing Activities 480.8 411.2
Net Increase (Decrease) in Cash and Cash Equivalents 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 116.9 88.6
Net Cash Paid (Received) for Income Taxes 55.0 53.2
Construction Expenditures Included in Current Liabilities as of September 30, 219.2 240.5
Appalachian Power Co [Member]    
Operating Activities    
Net Income (Loss) 247.3 303.1
Adjustments to Reconcile Net Income to Net Cash Flows from (Used for) Operating Activities:    
Depreciation and Amortization 424.8 431.0
Deferred Income Taxes 5.2 70.7
Other Asset Impairment Charges 0.0 24.9
Loss on the Expected/Completed Sale 0.0 24.9
Allowance for Equity Funds Used During Construction (8.7) (6.8)
Mark-to-Market of Risk Management Contracts 21.7 (65.6)
Establishment of Regulatory Asset 0.0 (37.0)
Deferred Fuel Over/Under-Recovery, Net 108.2 (400.2)
Change in Other Noncurrent Assets 24.4 (15.2)
Change in Other Noncurrent Liabilities (29.9) 39.7
Changes in Certain Components of Working Capital:    
Accounts Receivable, Net 80.2 68.7
Fuel, Materials and Supplies (114.0) (61.7)
Increase (Decrease) in Margin Deposits Outstanding (3.0) 65.8
Accounts Payable (129.5) 141.4
Accrued Taxes, Net (12.4) (98.9)
Other Current Assets (3.5) (4.2)
Other Current Liabilities (0.6) 42.2
Net Cash Flows from (Used for) Operating Activities 610.2 497.9
Investing Activities    
Construction Expenditures (813.4) (707.4)
Change in Advances to Affiliates, Net 0.5 (161.3)
Other Investing Activities (2.9) 34.9
Net Cash Flows from (Used for) Investing Activities (815.8) (833.8)
Financing Activities    
Capital Contributions from Parent 6.5 4.3
Issuance of Long-term Debt 200.0 698.2
Change in Advances from Affiliates, Net 20.3 (199.3)
Retirement of Long-term Debt (26.5) (130.4)
Principal Payments for Finance Leases Obligations (6.2) (5.9)
Dividends Paid on Common Stock 0.0 (37.5)
Other Financing Activities 1.0 0.5
Net Cash Flows from (Used for) Financing Activities 195.1 329.9
Net Increase (Decrease) in Cash and Cash Equivalents (10.5) (6.0)
Cash, Cash Equivalents and Restricted Cash at Beginning of Period 21.9 20.1
Cash and Cash Equivalents at Beginning of Period 7.5  
Cash, Cash Equivalents and Restricted Cash at End of Period 11.4 14.1
Cash and Cash Equivalents at End of Period 4.5  
Supplementary Information    
Cash Paid for Interest, Net of Capitalized Amounts 166.6 128.3
Net Cash Paid (Received) for Income Taxes 40.3 14.2
Noncash Acquisitions Under Finance Leases 4.1 1.0
Construction Expenditures Included in Current Liabilities as of September 30, 138.7 160.4
Indiana Michigan Power Co [Member]    
Operating Activities    
Net Income (Loss) 270.6 250.8
Adjustments to Reconcile Net Income to Net Cash Flows from (Used for) Operating Activities:    
Depreciation and Amortization 352.9 400.2
Deferred Income Taxes (16.4) (15.8)
Amortization (Deferral) of Incremental Nuclear Refueling Outage Expenses, Net 44.3 (35.2)
Allowance for Equity Funds Used During Construction (6.6) (7.9)
Mark-to-Market of Risk Management Contracts (4.7) (13.2)
Amortization of Nuclear Fuel 75.7 63.1
Deferred Fuel Over/Under-Recovery, Net 52.9 (20.5)
Change in Other Noncurrent Assets 3.1 12.5
Change in Other Noncurrent Liabilities 9.0 42.1
Changes in Certain Components of Working Capital:    
Accounts Receivable, Net 82.5 5.3
Fuel, Materials and Supplies (42.7) 3.1
Accounts Payable (34.8) 19.6
Accrued Taxes, Net (25.3) (17.0)
Other Current Assets (3.4) 19.3
Other Current Liabilities (22.7) (63.6)
Net Cash Flows from (Used for) Operating Activities 734.4 642.8
Investing Activities    
Construction Expenditures (418.4) (407.4)
Change in Advances to Affiliates, Net 1.8 (1.1)
Purchases of Investment Securities (2,182.8) (1,854.8)
Sales of Investment Securities 2,139.3 1,818.4
Acquisitions of Nuclear Fuel (60.9) (91.9)
Other Investing Activities 4.9 8.0
Net Cash Flows from (Used for) Investing Activities (516.1) (528.8)
Financing Activities    
Capital Contributions from Parent 1.7 1.9
Issuance of Long-term Debt 494.8 72.8
Change in Advances from Affiliates, Net (249.9) 11.6
Retirement of Long-term Debt (324.1) (64.5)
Principal Payments for Finance Leases Obligations (5.4) (41.6)
Dividends Paid on Common Stock (137.5) (70.0)
Other Financing Activities 0.6 0.3
Net Cash Flows from (Used for) Financing Activities (219.8) (89.5)
Net Increase (Decrease) in Cash and Cash Equivalents (1.5) 24.5
Cash and Cash Equivalents at Beginning of Period 4.2 1.3
Cash and Cash Equivalents at End of Period 2.7 25.8
Supplementary Information    
Cash Paid for Interest, Net of Capitalized Amounts 100.1 101.6
Net Cash Paid (Received) for Income Taxes 36.2 (4.1)
Noncash Acquisitions Under Finance Leases 3.6 0.8
Construction Expenditures Included in Current Liabilities as of September 30, 70.6 68.1
Acquisition of Nuclear Fuel Included in Current Liabilities as of March 31, 9.5 8.5
Ohio Power Co [Member]    
Operating Activities    
Net Income (Loss) 226.2 229.9
Adjustments to Reconcile Net Income to Net Cash Flows from (Used for) Operating Activities:    
Depreciation and Amortization 224.7 216.9
Deferred Income Taxes 29.4 29.3
Allowance for Equity Funds Used During Construction (11.3) (10.3)
Mark-to-Market of Risk Management Contracts 11.6 (49.6)
Property Taxes 282.4 264.7
Change in Other Noncurrent Assets (95.5) (19.7)
Change in Other Noncurrent Liabilities (47.7) 82.5
Changes in Certain Components of Working Capital:    
Accounts Receivable, Net 4.3 (27.0)
Fuel, Materials and Supplies 5.3 (11.6)
Accounts Payable 1.8 87.6
Increase (Decrease) in Contract with Customer, Liability (37.3) 37.4
Accrued Taxes, Net (367.3) (344.5)
Other Current Assets (2.3) 11.3
Other Current Liabilities 0.4 25.7
Net Cash Flows from (Used for) Operating Activities 224.7 522.6
Investing Activities    
Construction Expenditures (769.0) (600.6)
Change in Advances to Affiliates, Net 0.0 42.0
Other Investing Activities 33.9 21.3
Net Cash Flows from (Used for) Investing Activities (735.1) (537.3)
Financing Activities    
Capital Contributions from Parent 175.0 1.0
Issuance of Long-term Debt 395.0 0.0
Change in Advances from Affiliates, Net (59.6) 68.8
Retirement of Long-term Debt (0.6) (0.1)
Principal Payments for Finance Leases Obligations (3.7) (3.6)
Dividends Paid on Common Stock 0.0 (45.0)
Other Financing Activities 1.5 0.8
Net Cash Flows from (Used for) Financing Activities 507.6 21.9
Net Increase (Decrease) in Cash and Cash Equivalents (2.8) 7.2
Cash, Cash Equivalents and Restricted Cash at Beginning of Period 9.6 3.0
Cash and Cash Equivalents at Beginning of Period 9.6  
Cash, Cash Equivalents and Restricted Cash at End of Period 6.8 10.2
Cash and Cash Equivalents at End of Period 6.8  
Supplementary Information    
Cash Paid for Interest, Net of Capitalized Amounts 76.5 75.8
Net Cash Paid (Received) for Income Taxes 16.0 24.2
Noncash Acquisitions Under Finance Leases 3.3 2.1
Construction Expenditures Included in Current Liabilities as of September 30, 99.6 108.3
Public Service Co Of Oklahoma [Member]    
Operating Activities    
Net Income (Loss) 188.1 155.7
Adjustments to Reconcile Net Income to Net Cash Flows from (Used for) Operating Activities:    
Depreciation and Amortization 187.8 172.7
Deferred Income Taxes (13.6) (20.0)
Mark-to-Market of Risk Management Contracts (0.2) (36.1)
Property Taxes (14.0) (12.2)
Deferred Fuel Over/Under-Recovery, Net 263.3 454.0
Change in Other Regulatory Assets (66.1) 3.7
Change in Other Noncurrent Assets (33.1) (21.8)
Change in Other Noncurrent Liabilities 11.0 15.8
Changes in Certain Components of Working Capital:    
Accounts Receivable, Net 11.9 (66.3)
Fuel, Materials and Supplies (11.6) (25.8)
Accounts Payable (19.5) 150.8
Accrued Taxes, Net (9.5) (20.9)
Other Current Assets (3.0) (19.2)
Other Current Liabilities (10.8) 11.0
Net Cash Flows from (Used for) Operating Activities 480.7 741.4
Investing Activities    
Construction Expenditures (401.1) (322.6)
Change in Advances to Affiliates, Net (9.2) 0.0
Acquisitions of Assets (146.0)  
Other Investing Activities 8.8 2.9
Net Cash Flows from (Used for) Investing Activities (547.2) (869.0)
Financing Activities    
Capital Contributions from Parent 0.6 3.3
Return of Capital to Parent Cash Flows (2.5) 0.0
Issuance of Long-term Debt 469.8 499.7
Change in Advances from Affiliates, Net (364.2) 151.2
Retirement of Long-term Debt (0.4) (500.4)
Principal Payments for Finance Leases Obligations (2.5) (2.4)
Dividends Paid on Common Stock (35.0) (20.0)
Other Financing Activities 0.4 0.4
Net Cash Flows from (Used for) Financing Activities 66.2 131.8
Net Increase (Decrease) in Cash and Cash Equivalents (0.3) 4.2
Cash and Cash Equivalents at Beginning of Period 4.0 1.3
Cash and Cash Equivalents at End of Period 3.7 5.5
Supplementary Information    
Cash Paid for Interest, Net of Capitalized Amounts 67.4 63.1
Net Cash Paid (Received) for Income Taxes (1.6) 21.9
Noncash Acquisitions Under Finance Leases 1.9 1.7
Construction Expenditures Included in Current Liabilities as of September 30, 91.0 50.1
Public Service Co Of Oklahoma [Member] | Renewable Energy Facilities    
Investing Activities    
Acquisitions of Assets (145.7) (549.3)
Southwestern Electric Power Co [Member]    
Operating Activities    
Net Income (Loss) 282.1 263.3
Adjustments to Reconcile Net Income to Net Cash Flows from (Used for) Operating Activities:    
Depreciation and Amortization 266.8 251.8
Deferred Income Taxes 44.9 7.5
Allowance for Equity Funds Used During Construction (7.3) (3.4)
Mark-to-Market of Risk Management Contracts 1.4 (27.6)
Property Taxes (24.6) (22.0)
Deferred Fuel Over/Under-Recovery, Net 134.4 (82.0)
Change in Regulatory Assets (36.7) 3.1
Change in Other Noncurrent Assets (10.2) 52.0
Change in Other Noncurrent Liabilities (26.7) 17.3
Changes in Certain Components of Working Capital:    
Accounts Receivable, Net 29.7 (17.9)
Fuel, Materials and Supplies (12.0) 23.5
Accounts Payable 5.3 78.9
Accrued Taxes, Net 10.8 (1.1)
Other Current Assets 10.4 (12.0)
Other Current Liabilities (40.6) (38.1)
Net Cash Flows from (Used for) Operating Activities 627.7 493.3
Investing Activities    
Construction Expenditures (614.1) (397.0)
Change in Advances to Affiliates, Net (0.6) 153.8
Acquisitions of Assets 0.0 (658.0)
Other Investing Activities 1.8 3.9
Net Cash Flows from (Used for) Investing Activities (612.9) (897.3)
Financing Activities    
Capital Contributions from Parent 50.0 353.3
Issuance of Long-term Debt 346.8 0.0
Change in Short-term Debt with Original Maturities less than 90 Days, Net 3.9 0.0
Change in Advances from Affiliates, Net (261.8) 156.3
Retirement of Long-term Debt (94.1) (4.7)
Principal Payments for Finance Leases Obligations (17.6) (8.0)
Dividends Paid on Common Stock (125.0) (57.5)
Dividends Paid on Common Stock (2.4) (2.6)
Other Financing Activities 0.6 0.4
Net Cash Flows from (Used for) Financing Activities (99.6) 437.2
Net Increase (Decrease) in Cash and Cash Equivalents (84.8) 33.2
Cash and Cash Equivalents at Beginning of Period 88.4 51.2
Cash and Cash Equivalents at End of Period 3.6 84.4
Supplementary Information    
Cash Paid for Interest, Net of Capitalized Amounts 89.8 102.1
Net Cash Paid (Received) for Income Taxes (23.3) 34.7
Noncash Acquisitions Under Finance Leases 4.6 3.2
Construction Expenditures Included in Current Liabilities as of September 30, $ 69.0 $ 71.8