

	Volume
	December 31,				Unit of
Primary Risk Exposure	2014		2013		Measure
	(in millions)
Commodity:
Power	334		406		MWhs
Coal	3		4		Tons
Natural Gas	106		127		MMBtus
Heating Oil and Gasoline	6		6		Gallons
Interest Rate	$	152	$	191	USD

Interest Rate and Foreign Currency	$	815	$	820	USD

Amount of Gain (Loss) Recognized on Risk Management Contracts

December 31, 2014



	Risk Management Contracts		Hedging Contracts					Gross Amounts of Risk Management Assets/ Liabilities Recognized		Gross Amounts Offset in the Statement of Financial Position (b)			Net Amounts of Assets/Liabilities Presented in the Statement of Financial Position (c)
Balance Sheet Location	Commodity (a)		Commodity (a)		Interest Rate and Foreign Currency (a)
	(in millions)
Current Risk Management Assets	$	392	$	30	$	3		$	425	$	(247	)	$	178
Long-term Risk Management Assets	367		3		—			370		(76		)	294
Total Assets	759		33		3			795		(323		)	472

Current Risk Management Liabilities	329		23		1			353		(261		)	92
Long-term Risk Management Liabilities	208		8		9			225		(94		)	131
Total Liabilities	537		31		10			578		(355		)	223

Total MTM Derivative Contract Net Assets (Liabilities)	$	222	$	2	$	(7	)	$	217	$	32		$	249

Fair Value of Derivative Instruments

December 31, 2013



	Risk Management Contracts		Hedging Contracts					Gross Amounts of Risk Management Assets/ Liabilities Recognized		Gross Amounts Offset in the Statement of Financial Position (b)			Net Amounts of Assets/Liabilities Presented in the Statement of Financial Position (c)
Balance Sheet Location	Commodity (a)		Commodity (a)		Interest Rate and Foreign Currency (a)
	(in millions)
Current Risk Management Assets	$	347	$	12	$	4		$	363	$	(203	)	$	160
Long-term Risk Management Assets	368		3		—			371		(74		)	297
Total Assets	715		15		4			734		(277		)	457

Current Risk Management Liabilities	292		11		1			304		(214		)	90
Long-term Risk Management Liabilities	237		3		15			255		(78		)	177
Total Liabilities	529		14		16			559		(292		)	267

Total MTM Derivative Contract Net Assets (Liabilities)	$	186	$	1	$	(12	)	$	175	$	15		$	190


(a)	Derivative instruments within these categories are reported gross. These instruments are subject to master netting agreements and are presented on the balance sheets on a net basis in accordance with the accounting guidance for "Derivatives and Hedging."


(b)	Amounts primarily include counterparty netting of risk management and hedging contracts and associated cash collateral in accordance with the accounting guidance for "Derivatives and Hedging." Amounts also include de-designated risk management contracts.


(c)	There are no derivative contracts subject to a master netting arrangement or similar agreement which are not offset in the statement of financial position.

Amount of Gain (Loss) Recognized on

Risk Management Contracts



	Years Ended December 31,
Location of Gain (Loss)	2014			2013			2012
	(in millions)
Vertically Integrated Utilities Revenues	$	35		$	15		$	10
Generation & Marketing Revenues	53			49			50
Regulatory Assets (a)	(11		)	(2		)	(43		)
Regulatory Liabilities (a)	193			(5		)	8
Total Gain on Risk Management Contracts	$	270		$	57		$	25


(a)	Represents realized and unrealized gains and losses subject to regulatory accounting treatment recorded as either current or noncurrent on the balance sheets.

Gain (Loss) on Hedging Instruments



	Years Ended December 31,
	2014			2013			2012
	(in millions)
Gain (Loss) on Fair Value Hedging Instruments	$	4		$	(10	)	$	—	(a)
Gain (Loss) on Fair Value Portion of Long-term Debt	(4		)	10			—		(a)


(a)	The fair value changes were immaterial.

Collateral Required Under Various Triggering Events



Impact of Cash Flow Hedges on the Balance Sheet
December 31, 2014

	Commodity		Interest Rate and Foreign Currency			Total
	(in millions)
Hedging Assets (a)	$	16	$	—		$	16
Hedging Liabilities (a)	14		1			15
AOCI Gain (Loss) Net of Tax	1		(19		)	(18		)
Portion Expected to be Reclassified to Net Income During the Next Twelve Months	4		(2		)	2



Impact of Cash Flow Hedges on the Balance Sheet
December 31, 2013

	Commodity		Interest Rate and Foreign Currency			Total
	(in millions)
Hedging Assets (a)	$	7	$	—		$	7
Hedging Liabilities (a)	6		2			8
AOCI Loss Net of Tax	—		(23		)	(23		)
Portion Expected to be Reclassified to Net Income During the Next Twelve Months	—		(4		)	(4		)


(a)	Hedging Assets and Hedging Liabilities are included in Risk Management Assets and Liabilities on the balance sheets.



	December 31,
	2014		2013
	(in millions)
Fair Value of Contracts with Credit Downgrade Triggers	$	—	$	3
Amount of Collateral AEP Subsidiaries Would Have been Required to Post for Derivative Contracts as well as Derivative and Non-Derivative Contracts Subject to the Same Master Netting Arrangement	—		—
Amount of Collateral AEP Subsidiaries Would Have Been Required to Post Attributable to RTOs and ISOs	36		28
Amount of Collateral Attributable to Other Contracts (a)	281		5

Appalachian Power Co [Member]



	December 31,
	2014		2013
	(in millions)
Liabilities for Contracts with Cross Default Provisions Prior to Contractual Netting Arrangements	$	235	$	293
Amount of Cash Collateral Posted	9		1
Additional Settlement Liability if Cross Default Provision is Triggered	178		235

December 31, 2014



Primary Risk Exposure	Unit of Measure	APCo		I&M		OPCo		PSO		SWEPCo
				(in thousands)
Commodity:
Power	MWhs	32,479		23,774		20,334		16,765		20,469
Coal	Tons	279		500		—		—		1,500
Natural Gas	MMBtus	421		286		—		—		—
Heating Oil and Gasoline	Gallons	1,089		521		1,108		614		699
Interest Rate	USD	$	5,094	$	3,455	$	—	$	—	$	—

Notional Volume of Derivative Instruments

December 31, 2013



Primary Risk Exposure	Unit of Measure	APCo		I&M		OPCo		PSO		SWEPCo
				(in thousands)
Commodity:
Power	MWhs	48,995		33,231		34,843		13,469		17,057
Coal	Tons	31		3,389		—		1,013		1,692
Natural Gas	MMBtus	2,477		1,680		—		—		—
Heating Oil and Gasoline	Gallons	1,089		521		1,108		614		699
Interest Rate	USD	$	12,720	$	8,627	$	—	$	—	$	—



	December 31,
	2014				2013
Company	Cash Collateral Received Netted Against Risk Management Assets		Cash Collateral Paid Netted Against Risk Management Liabilities		Cash Collateral Received Netted Against Risk Management Assets		Cash Collateral Paid Netted Against Risk Management Liabilities
	(in thousands)
APCo	$	68	$	98	$	—	$	2,993
I&M	163		47		—		2,030
OPCo	—		102		—		—
PSO	—		54		—		1
SWEPCo	—		62		—		3

Amount of Gain (Loss) Recognized on Risk Management Contracts

APCo

Fair Value of Derivative Instruments

December 31, 2014



	Risk Management Contracts		Hedging Contracts				Gross Amounts of Risk Management Assets/ Liabilities Recognized		Gross Amounts Offset in the Statement of Financial Position (b)			Net Amounts of Assets/Liabilities Presented in the Statement of Financial Position (c)
Balance Sheet Location	Commodity (a)		Commodity (a)		Interest Rate and Foreign Currency (a)
	(in thousands)
Current Risk Management Assets	$	32,903	$	—	$	—	$	32,903	$	(9,111	)	$	23,792
Long-term Risk Management Assets	5,159		—		—		5,159		(268		)	4,891
Total Assets	38,062		—		—		38,062		(9,379		)	28,683

Current Risk Management Liabilities	20,161		—		—		20,161		(9,144		)	11,017
Long-term Risk Management Liabilities	2,322		—		—		2,322		(265		)	2,057
Total Liabilities	22,483		—		—		22,483		(9,409		)	13,074

Total MTM Derivative Contract Net Assets (Liabilities)	$	15,579	$	—	$	—	$	15,579	$	30		$	15,609

APCo

Fair Value of Derivative Instruments

December 31, 2013



	Risk Management Contracts		Hedging Contracts				Gross Amounts of Risk Management Assets/ Liabilities Recognized		Gross Amounts Offset in the Statement of Financial Position (b)			Net Amounts of Assets/Liabilities Presented in the Statement of Financial Position (c)
Balance Sheet Location	Commodity (a)		Commodity (a)		Interest Rate and Foreign Currency (a)
	(in thousands)
Current Risk Management Assets	$	46,431	$	389	$	—	$	46,820	$	(25,649	)	$	21,171
Long-term Risk Management Assets	20,948		—		—		20,948		(4,000		)	16,948
Total Assets	67,379		389		—		67,768		(29,649		)	38,119

Current Risk Management Liabilities	37,010		313		—		37,323		(28,431		)	8,892
Long-term Risk Management Liabilities	14,452		—		—		14,452		(4,211		)	10,241
Total Liabilities	51,462		313		—		51,775		(32,642		)	19,133

Total MTM Derivative Contract Net Assets (Liabilities)	$	15,917	$	76	$	—	$	15,993	$	2,993		$	18,986


(a)	Derivative instruments within these categories are reported gross. These instruments are subject to master netting agreements and are presented on the balance sheets on a net basis in accordance with the accounting guidance for "Derivatives and Hedging."


(b)	Amounts include counterparty netting of risk management and hedging contracts and associated cash collateral in accordance with the accounting guidance for "Derivatives and Hedging."


(c)	There are no derivative contracts subject to a master netting arrangement or similar agreement which are not offset in the statement of financial position.

Amount of Gain (Loss) Recognized on

Risk Management Contracts

Year Ended December 31, 2014



Location of Gain (Loss)	APCo			I&M			OPCo		PSO			SWEPCo
	(in thousands)
Electric Generation, Transmission and Distribution Revenues	$	8,732		$	13,151		$	40	$	185		$	56
Sales to AEP Affiliates	—			(854		)	—		854			—
Regulatory Assets (a)	(4,077		)	(503		)	—		(970		)	(1,142		)
Regulatory Liabilities (a)	49,555			37,410			85,944		304			16,851
Total Gain on Risk Management Contracts	$	54,210		$	49,204		$	85,984	$	373		$	15,765

Amount of Gain (Loss) Recognized on

Risk Management Contracts

Year Ended December 31, 2013



Location of Gain (Loss)	APCo			I&M			OPCo			PSO		SWEPCo
	(in thousands)
Electric Generation, Transmission and Distribution Revenues	$	2,019		$	10,624		$	4,886		$	371	$	647
Regulatory Assets (a)	(4		)	(26		)	(5,795		)	2,956		424
Regulatory Liabilities (a)	(338		)	(9,062		)	2,920			999		1,462
Total Gain on Risk Management Contracts	$	1,677		$	1,536		$	2,011		$	4,326	$	2,533

Amount of Gain (Loss) Recognized on

Risk Management Contracts

Year Ended December 31, 2012



Location of Gain (Loss)	APCo			I&M			OPCo			PSO			SWEPCo
	(in thousands)
Electric Generation, Transmission and Distribution Revenues	$	(1,149	)	$	11,437		$	11,978		$	163		$	398
Regulatory Assets (a)	(7,835		)	(9,204		)	(14,104		)	(5,304		)	(6,274		)
Regulatory Liabilities (a)	7,314			(889		)	—			(19		)	(13		)
Total Gain (Loss) on Risk Management Contracts	$	(1,670	)	$	1,344		$	(2,126	)	$	(5,160	)	$	(5,889	)


(a)	Represents realized and unrealized gains and losses subject to regulatory accounting treatment recorded as either current or noncurrent on the balance sheets.

Collateral Required Under Various Triggering Events

Impact of Cash Flow Hedges on the Registrant Subsidiaries’

Balance Sheets

December 31, 2014



	Hedging Assets (a)				Hedging Liabilities (a)				AOCI Gain (Loss) Net of Tax
Company	Commodity		Interest Rate and Foreign Currency		Commodity		Interest Rate and Foreign Currency		Commodity		Interest Rate and Foreign Currency

APCo	$	—	$	—	$	—	$	—	$	—	$	3,896
I&M	—		—		—		—		—		(14,406		)
OPCo	—		—		—		—		—		5,602
PSO	—		—		—		—		—		4,943
SWEPCo	—		—		—		—		—		(11,036		)



	Expected to be Reclassified to Net Income During the Next Twelve Months
Company	Commodity		Interest Rate and Foreign Currency			Maximum Term for Exposure to Variability of Future Cash Flows
	(in thousands)					(in months)
APCo	$	—	$	275		0
I&M	—		(1,090		)	0
OPCo	—		1,372			0
PSO	—		759			0
SWEPCo	—		(1,998		)	0

Impact of Cash Flow Hedges on the Registrant Subsidiaries’

Balance Sheets

December 31, 2013



	Hedging Assets (a)				Hedging Liabilities (a)				AOCI Gain (Loss) Net of Tax
Company	Commodity		Interest Rate and Foreign Currency		Commodity		Interest Rate and Foreign Currency		Commodity		Interest Rate and Foreign Currency

APCo	$	363	$	—	$	287	$	—	$	94	$	3,090
I&M	216		—		194		—		46		(15,976		)
OPCo	162		—		—		—		105		6,974
PSO	84		—		—		—		57		5,701
SWEPCo	97		—		—		—		66		(13,304		)



	Expected to be Reclassified to Net Income During the Next Twelve Months
Company	Commodity		Interest Rate and Foreign Currency
	(in thousands)
APCo	$	94	$	(806	)
I&M	46		(1,568		)
OPCo	105		1,363
PSO	57		759
SWEPCo	66		(2,267		)


(a)	Hedging Assets and Hedging Liabilities are included in Risk Management Assets and Liabilities on the balance sheets.



	December 31, 2014
Company	Fair Value of Contracts with Credit Downgrade Triggers		Amount of Collateral Registrant Subsidiaries' Would Have Been Required to Post for Derivative Contracts as well as Non- Derivative Contracts Subject to the Same Master Netting Arrangement		Amount of Collateral the Registrant Subsidiaries' Would Have Been Required to Post Attributable to RTOs and ISOs		Amount of Collateral Attributable to Other Contracts
	(in thousands)
APCo	$	—	$	—	$	6,339	$	74
I&M	—		—		4,299		47
OPCo	—		—		—		—
PSO	—		—		693		4,111
SWEPCo	—		—		877		166



	December 31, 2013
Company	Fair Value of Contracts with Credit Downgrade Triggers		Amount of Collateral Registrant Subsidiaries' Would Have Been Required to Post for Derivative Contracts as well as Non- Derivative Contracts Subject to the Same Master Netting Arrangement		Amount of Collateral the Registrant Subsidiaries' Would Have Been Required to Post Attributable to RTOs and ISOs		Amount of Collateral Attributable to Other Contracts
	(in thousands)
APCo	$	575	$	—	$	2,539	$	208
I&M	390		—		1,722		141
OPCo	349		—		—		—
PSO	—		—		410		2,520
SWEPCo	—		—		519		194

Indiana Michigan Power Co [Member]



	December 31, 2014
Company	Liabilities for Contracts with Cross Default Provisions Prior to Contractual Netting Arrangements		Amount of Cash Collateral Posted		Additional Settlement Liability if Cross Default Provision is Triggered
	(in thousands)
APCo	$	9,043	$	—	$	9,012
I&M	6,134		—		6,113
OPCo	—		—		—
PSO	—		—		—
SWEPCo	—		—		—



	December 31, 2013
Company	Liabilities for Contracts with Cross Default Provisions Prior to Contractual Netting Arrangements		Amount of Cash Collateral Posted		Additional Settlement Liability if Cross Default Provision is Triggered
	(in thousands)
APCo	$	19,648	$	—	$	18,568
I&M	13,326		—		12,594
OPCo	—		—		—
PSO	3		—		3
SWEPCo	3		—		3

December 31, 2014



Primary Risk Exposure	Unit of Measure	APCo		I&M		OPCo		PSO		SWEPCo
				(in thousands)
Commodity:
Power	MWhs	32,479		23,774		20,334		16,765		20,469
Coal	Tons	279		500		—		—		1,500
Natural Gas	MMBtus	421		286		—		—		—
Heating Oil and Gasoline	Gallons	1,089		521		1,108		614		699
Interest Rate	USD	$	5,094	$	3,455	$	—	$	—	$	—

Notional Volume of Derivative Instruments

December 31, 2013



Primary Risk Exposure	Unit of Measure	APCo		I&M		OPCo		PSO		SWEPCo
				(in thousands)
Commodity:
Power	MWhs	48,995		33,231		34,843		13,469		17,057
Coal	Tons	31		3,389		—		1,013		1,692
Natural Gas	MMBtus	2,477		1,680		—		—		—
Heating Oil and Gasoline	Gallons	1,089		521		1,108		614		699
Interest Rate	USD	$	12,720	$	8,627	$	—	$	—	$	—



	December 31,
	2014				2013
Company	Cash Collateral Received Netted Against Risk Management Assets		Cash Collateral Paid Netted Against Risk Management Liabilities		Cash Collateral Received Netted Against Risk Management Assets		Cash Collateral Paid Netted Against Risk Management Liabilities
	(in thousands)
APCo	$	68	$	98	$	—	$	2,993
I&M	163		47		—		2,030
OPCo	—		102		—		—
PSO	—		54		—		1
SWEPCo	—		62		—		3

Amount of Gain (Loss) Recognized on Risk Management Contracts

I&M

Fair Value of Derivative Instruments

December 31, 2014



	Risk Management Contracts		Hedging Contracts				Gross Amounts of Risk Management Assets/ Liabilities Recognized		Gross Amounts Offset in the Statement of Financial Position (b)			Net Amounts of Assets/Liabilities Presented in the Statement of Financial Position (c)
Balance Sheet Location	Commodity (a)		Commodity (a)		Interest Rate and Foreign Currency (a)
	(in thousands)
Current Risk Management Assets	$	28,545	$	—	$	—	$	28,545	$	(6,217	)	$	22,328
Long-term Risk Management Assets	3,499		—		—		3,499		(182		)	3,317
Total Assets	32,044		—		—		32,044		(6,399		)	25,645

Current Risk Management Liabilities	11,326		—		—		11,326		(6,103		)	5,223
Long-term Risk Management Liabilities	1,575		—		—		1,575		(180		)	1,395
Total Liabilities	12,901		—		—		12,901		(6,283		)	6,618

Total MTM Derivative Contract Net Assets (Liabilities)	$	19,143	$	—	$	—	$	19,143	$	(116	)	$	19,027

I&M

Fair Value of Derivative Instruments

December 31, 2013



	Risk Management Contracts		Hedging Contracts				Gross Amounts of Risk Management Assets/ Liabilities Recognized		Gross Amounts Offset in the Statement of Financial Position (b)			Net Amounts of Assets/Liabilities Presented in the Statement of Financial Position (c)
Balance Sheet Location	Commodity (a)		Commodity (a)		Interest Rate and Foreign Currency (a)
	(in thousands)
Current Risk Management Assets	$	33,229	$	234	$	—	$	33,463	$	(18,075	)	$	15,388
Long-term Risk Management Assets	14,208		—		—		14,208		(2,713		)	11,495
Total Assets	47,437		234		—		47,671		(20,788		)	26,883

Current Risk Management Liabilities	26,779		212		—		26,991		(19,962		)	7,029
Long-term Risk Management Liabilities	9,802		—		—		9,802		(2,856		)	6,946
Total Liabilities	36,581		212		—		36,793		(22,818		)	13,975

Total MTM Derivative Contract Net Assets (Liabilities)	$	10,856	$	22	$	—	$	10,878	$	2,030		$	12,908


(a)	Derivative instruments within these categories are reported gross. These instruments are subject to master netting agreements and are presented on the balance sheets on a net basis in accordance with the accounting guidance for "Derivatives and Hedging."


(b)	Amounts include counterparty netting of risk management and hedging contracts and associated cash collateral in accordance with the accounting guidance for "Derivatives and Hedging."


(c)	There are no derivative contracts subject to a master netting arrangement or similar agreement which are not offset in the statement of financial position.

Amount of Gain (Loss) Recognized on

Risk Management Contracts

Year Ended December 31, 2014



Location of Gain (Loss)	APCo			I&M			OPCo		PSO			SWEPCo
	(in thousands)
Electric Generation, Transmission and Distribution Revenues	$	8,732		$	13,151		$	40	$	185		$	56
Sales to AEP Affiliates	—			(854		)	—		854			—
Regulatory Assets (a)	(4,077		)	(503		)	—		(970		)	(1,142		)
Regulatory Liabilities (a)	49,555			37,410			85,944		304			16,851
Total Gain on Risk Management Contracts	$	54,210		$	49,204		$	85,984	$	373		$	15,765

Amount of Gain (Loss) Recognized on

Risk Management Contracts

Year Ended December 31, 2013



Location of Gain (Loss)	APCo			I&M			OPCo			PSO		SWEPCo
	(in thousands)
Electric Generation, Transmission and Distribution Revenues	$	2,019		$	10,624		$	4,886		$	371	$	647
Regulatory Assets (a)	(4		)	(26		)	(5,795		)	2,956		424
Regulatory Liabilities (a)	(338		)	(9,062		)	2,920			999		1,462
Total Gain on Risk Management Contracts	$	1,677		$	1,536		$	2,011		$	4,326	$	2,533

Amount of Gain (Loss) Recognized on

Risk Management Contracts

Year Ended December 31, 2012



Location of Gain (Loss)	APCo			I&M			OPCo			PSO			SWEPCo
	(in thousands)
Electric Generation, Transmission and Distribution Revenues	$	(1,149	)	$	11,437		$	11,978		$	163		$	398
Regulatory Assets (a)	(7,835		)	(9,204		)	(14,104		)	(5,304		)	(6,274		)
Regulatory Liabilities (a)	7,314			(889		)	—			(19		)	(13		)
Total Gain (Loss) on Risk Management Contracts	$	(1,670	)	$	1,344		$	(2,126	)	$	(5,160	)	$	(5,889	)


(a)	Represents realized and unrealized gains and losses subject to regulatory accounting treatment recorded as either current or noncurrent on the balance sheets.

Collateral Required Under Various Triggering Events

Impact of Cash Flow Hedges on the Registrant Subsidiaries’

Balance Sheets

December 31, 2014



	Hedging Assets (a)				Hedging Liabilities (a)				AOCI Gain (Loss) Net of Tax
Company	Commodity		Interest Rate and Foreign Currency		Commodity		Interest Rate and Foreign Currency		Commodity		Interest Rate and Foreign Currency

APCo	$	—	$	—	$	—	$	—	$	—	$	3,896
I&M	—		—		—		—		—		(14,406		)
OPCo	—		—		—		—		—		5,602
PSO	—		—		—		—		—		4,943
SWEPCo	—		—		—		—		—		(11,036		)



	Expected to be Reclassified to Net Income During the Next Twelve Months
Company	Commodity		Interest Rate and Foreign Currency			Maximum Term for Exposure to Variability of Future Cash Flows
	(in thousands)					(in months)
APCo	$	—	$	275		0
I&M	—		(1,090		)	0
OPCo	—		1,372			0
PSO	—		759			0
SWEPCo	—		(1,998		)	0

Impact of Cash Flow Hedges on the Registrant Subsidiaries’

Balance Sheets

December 31, 2013



	Hedging Assets (a)				Hedging Liabilities (a)				AOCI Gain (Loss) Net of Tax
Company	Commodity		Interest Rate and Foreign Currency		Commodity		Interest Rate and Foreign Currency		Commodity		Interest Rate and Foreign Currency

APCo	$	363	$	—	$	287	$	—	$	94	$	3,090
I&M	216		—		194		—		46		(15,976		)
OPCo	162		—		—		—		105		6,974
PSO	84		—		—		—		57		5,701
SWEPCo	97		—		—		—		66		(13,304		)



	Expected to be Reclassified to Net Income During the Next Twelve Months
Company	Commodity		Interest Rate and Foreign Currency
	(in thousands)
APCo	$	94	$	(806	)
I&M	46		(1,568		)
OPCo	105		1,363
PSO	57		759
SWEPCo	66		(2,267		)


(a)	Hedging Assets and Hedging Liabilities are included in Risk Management Assets and Liabilities on the balance sheets.



	December 31, 2014
Company	Fair Value of Contracts with Credit Downgrade Triggers		Amount of Collateral Registrant Subsidiaries' Would Have Been Required to Post for Derivative Contracts as well as Non- Derivative Contracts Subject to the Same Master Netting Arrangement		Amount of Collateral the Registrant Subsidiaries' Would Have Been Required to Post Attributable to RTOs and ISOs		Amount of Collateral Attributable to Other Contracts
	(in thousands)
APCo	$	—	$	—	$	6,339	$	74
I&M	—		—		4,299		47
OPCo	—		—		—		—
PSO	—		—		693		4,111
SWEPCo	—		—		877		166



	December 31, 2013
Company	Fair Value of Contracts with Credit Downgrade Triggers		Amount of Collateral Registrant Subsidiaries' Would Have Been Required to Post for Derivative Contracts as well as Non- Derivative Contracts Subject to the Same Master Netting Arrangement		Amount of Collateral the Registrant Subsidiaries' Would Have Been Required to Post Attributable to RTOs and ISOs		Amount of Collateral Attributable to Other Contracts
	(in thousands)
APCo	$	575	$	—	$	2,539	$	208
I&M	390		—		1,722		141
OPCo	349		—		—		—
PSO	—		—		410		2,520
SWEPCo	—		—		519		194



	December 31, 2014
Company	Liabilities for Contracts with Cross Default Provisions Prior to Contractual Netting Arrangements		Amount of Cash Collateral Posted		Additional Settlement Liability if Cross Default Provision is Triggered
	(in thousands)
APCo	$	9,043	$	—	$	9,012
I&M	6,134		—		6,113
OPCo	—		—		—
PSO	—		—		—
SWEPCo	—		—		—



	December 31, 2013
Company	Liabilities for Contracts with Cross Default Provisions Prior to Contractual Netting Arrangements		Amount of Cash Collateral Posted		Additional Settlement Liability if Cross Default Provision is Triggered
	(in thousands)
APCo	$	19,648	$	—	$	18,568
I&M	13,326		—		12,594
OPCo	—		—		—
PSO	3		—		3
SWEPCo	3		—		3

Ohio Power Co [Member]

December 31, 2014



Primary Risk Exposure	Unit of Measure	APCo		I&M		OPCo		PSO		SWEPCo
				(in thousands)
Commodity:
Power	MWhs	32,479		23,774		20,334		16,765		20,469
Coal	Tons	279		500		—		—		1,500
Natural Gas	MMBtus	421		286		—		—		—
Heating Oil and Gasoline	Gallons	1,089		521		1,108		614		699
Interest Rate	USD	$	5,094	$	3,455	$	—	$	—	$	—

Notional Volume of Derivative Instruments

December 31, 2013



Primary Risk Exposure	Unit of Measure	APCo		I&M		OPCo		PSO		SWEPCo
				(in thousands)
Commodity:
Power	MWhs	48,995		33,231		34,843		13,469		17,057
Coal	Tons	31		3,389		—		1,013		1,692
Natural Gas	MMBtus	2,477		1,680		—		—		—
Heating Oil and Gasoline	Gallons	1,089		521		1,108		614		699
Interest Rate	USD	$	12,720	$	8,627	$	—	$	—	$	—



	December 31,
	2014				2013
Company	Cash Collateral Received Netted Against Risk Management Assets		Cash Collateral Paid Netted Against Risk Management Liabilities		Cash Collateral Received Netted Against Risk Management Assets		Cash Collateral Paid Netted Against Risk Management Liabilities
	(in thousands)
APCo	$	68	$	98	$	—	$	2,993
I&M	163		47		—		2,030
OPCo	—		102		—		—
PSO	—		54		—		1
SWEPCo	—		62		—		3

Amount of Gain (Loss) Recognized on Risk Management Contracts

OPCo

Fair Value of Derivative Instruments

December 31, 2014



	Risk Management Contracts		Hedging Contracts				Gross Amounts of Risk Management Assets/ Liabilities Recognized		Gross Amounts Offset in the Statement of Financial Position (b)			Net Amounts of Assets/Liabilities Presented in the Statement of Financial Position (c)
Balance Sheet Location	Commodity (a)		Commodity (a)		Interest Rate and Foreign Currency (a)
	(in thousands)
Current Risk Management Assets	$	7,242	$	—	$	—	$	7,242	$	—		$	7,242
Long-term Risk Management Assets	45,102		—		—		45,102		—			45,102
Total Assets	52,344		—		—		52,344		—			52,344

Current Risk Management Liabilities	2,045		—		—		2,045		(102		)	1,943
Long-term Risk Management Liabilities	3,013		—		—		3,013		—			3,013
Total Liabilities	5,058		—		—		5,058		(102		)	4,956

Total MTM Derivative Contract Net Assets (Liabilities)	$	47,286	$	—	$	—	$	47,286	$	102		$	47,388

OPCo

Fair Value of Derivative Instruments

December 31, 2013



	Risk Management Contracts		Hedging Contracts				Gross Amounts of Risk Management Assets/ Liabilities Recognized		Gross Amounts Offset in the Statement of Financial Position (b)			Net Amounts of Assets/Liabilities Presented in the Statement of Financial Position (c)
Balance Sheet Location	Commodity (a)		Commodity (a)		Interest Rate and Foreign Currency (a)
	(in thousands)
Current Risk Management Assets	$	3,269	$	162	$	—	$	3,431	$	(349	)	$	3,082
Long-term Risk Management Assets	—		—		—		—		—			—
Total Assets	3,269		162		—		3,431		(349		)	3,082

Current Risk Management Liabilities	349		—		—		349		(349		)	—
Long-term Risk Management Liabilities	—		—		—		—		—			—
Total Liabilities	349		—		—		349		(349		)	—

Total MTM Derivative Contract Net Assets (Liabilities)	$	2,920	$	162	$	—	$	3,082	$	—		$	3,082


(a)	Derivative instruments within these categories are reported gross. These instruments are subject to master netting agreements and are presented on the balance sheets on a net basis in accordance with the accounting guidance for "Derivatives and Hedging."


(b)	Amounts include counterparty netting of risk management and hedging contracts and associated cash collateral in accordance with the accounting guidance for "Derivatives and Hedging."


(c)	There are no derivative contracts subject to a master netting arrangement or similar agreement which are not offset in the statement of financial position.

Amount of Gain (Loss) Recognized on

Risk Management Contracts

Year Ended December 31, 2014



Location of Gain (Loss)	APCo			I&M			OPCo		PSO			SWEPCo
	(in thousands)
Electric Generation, Transmission and Distribution Revenues	$	8,732		$	13,151		$	40	$	185		$	56
Sales to AEP Affiliates	—			(854		)	—		854			—
Regulatory Assets (a)	(4,077		)	(503		)	—		(970		)	(1,142		)
Regulatory Liabilities (a)	49,555			37,410			85,944		304			16,851
Total Gain on Risk Management Contracts	$	54,210		$	49,204		$	85,984	$	373		$	15,765

Amount of Gain (Loss) Recognized on

Risk Management Contracts

Year Ended December 31, 2013



Location of Gain (Loss)	APCo			I&M			OPCo			PSO		SWEPCo
	(in thousands)
Electric Generation, Transmission and Distribution Revenues	$	2,019		$	10,624		$	4,886		$	371	$	647
Regulatory Assets (a)	(4		)	(26		)	(5,795		)	2,956		424
Regulatory Liabilities (a)	(338		)	(9,062		)	2,920			999		1,462
Total Gain on Risk Management Contracts	$	1,677		$	1,536		$	2,011		$	4,326	$	2,533

Amount of Gain (Loss) Recognized on

Risk Management Contracts

Year Ended December 31, 2012



Location of Gain (Loss)	APCo			I&M			OPCo			PSO			SWEPCo
	(in thousands)
Electric Generation, Transmission and Distribution Revenues	$	(1,149	)	$	11,437		$	11,978		$	163		$	398
Regulatory Assets (a)	(7,835		)	(9,204		)	(14,104		)	(5,304		)	(6,274		)
Regulatory Liabilities (a)	7,314			(889		)	—			(19		)	(13		)
Total Gain (Loss) on Risk Management Contracts	$	(1,670	)	$	1,344		$	(2,126	)	$	(5,160	)	$	(5,889	)


(a)	Represents realized and unrealized gains and losses subject to regulatory accounting treatment recorded as either current or noncurrent on the balance sheets.

Collateral Required Under Various Triggering Events

Impact of Cash Flow Hedges on the Registrant Subsidiaries’

Balance Sheets

December 31, 2014



	Hedging Assets (a)				Hedging Liabilities (a)				AOCI Gain (Loss) Net of Tax
Company	Commodity		Interest Rate and Foreign Currency		Commodity		Interest Rate and Foreign Currency		Commodity		Interest Rate and Foreign Currency

APCo	$	—	$	—	$	—	$	—	$	—	$	3,896
I&M	—		—		—		—		—		(14,406		)
OPCo	—		—		—		—		—		5,602
PSO	—		—		—		—		—		4,943
SWEPCo	—		—		—		—		—		(11,036		)



	Expected to be Reclassified to Net Income During the Next Twelve Months
Company	Commodity		Interest Rate and Foreign Currency			Maximum Term for Exposure to Variability of Future Cash Flows
	(in thousands)					(in months)
APCo	$	—	$	275		0
I&M	—		(1,090		)	0
OPCo	—		1,372			0
PSO	—		759			0
SWEPCo	—		(1,998		)	0

Impact of Cash Flow Hedges on the Registrant Subsidiaries’

Balance Sheets

December 31, 2013



	Hedging Assets (a)				Hedging Liabilities (a)				AOCI Gain (Loss) Net of Tax
Company	Commodity		Interest Rate and Foreign Currency		Commodity		Interest Rate and Foreign Currency		Commodity		Interest Rate and Foreign Currency

APCo	$	363	$	—	$	287	$	—	$	94	$	3,090
I&M	216		—		194		—		46		(15,976		)
OPCo	162		—		—		—		105		6,974
PSO	84		—		—		—		57		5,701
SWEPCo	97		—		—		—		66		(13,304		)



	Expected to be Reclassified to Net Income During the Next Twelve Months
Company	Commodity		Interest Rate and Foreign Currency
	(in thousands)
APCo	$	94	$	(806	)
I&M	46		(1,568		)
OPCo	105		1,363
PSO	57		759
SWEPCo	66		(2,267		)


(a)	Hedging Assets and Hedging Liabilities are included in Risk Management Assets and Liabilities on the balance sheets.



	December 31, 2014
Company	Fair Value of Contracts with Credit Downgrade Triggers		Amount of Collateral Registrant Subsidiaries' Would Have Been Required to Post for Derivative Contracts as well as Non- Derivative Contracts Subject to the Same Master Netting Arrangement		Amount of Collateral the Registrant Subsidiaries' Would Have Been Required to Post Attributable to RTOs and ISOs		Amount of Collateral Attributable to Other Contracts
	(in thousands)
APCo	$	—	$	—	$	6,339	$	74
I&M	—		—		4,299		47
OPCo	—		—		—		—
PSO	—		—		693		4,111
SWEPCo	—		—		877		166



	December 31, 2013
Company	Fair Value of Contracts with Credit Downgrade Triggers		Amount of Collateral Registrant Subsidiaries' Would Have Been Required to Post for Derivative Contracts as well as Non- Derivative Contracts Subject to the Same Master Netting Arrangement		Amount of Collateral the Registrant Subsidiaries' Would Have Been Required to Post Attributable to RTOs and ISOs		Amount of Collateral Attributable to Other Contracts
	(in thousands)
APCo	$	575	$	—	$	2,539	$	208
I&M	390		—		1,722		141
OPCo	349		—		—		—
PSO	—		—		410		2,520
SWEPCo	—		—		519		194

Public Service Co Of Oklahoma [Member]



	December 31, 2014
Company	Liabilities for Contracts with Cross Default Provisions Prior to Contractual Netting Arrangements		Amount of Cash Collateral Posted		Additional Settlement Liability if Cross Default Provision is Triggered
	(in thousands)
APCo	$	9,043	$	—	$	9,012
I&M	6,134		—		6,113
OPCo	—		—		—
PSO	—		—		—
SWEPCo	—		—		—



	December 31, 2013
Company	Liabilities for Contracts with Cross Default Provisions Prior to Contractual Netting Arrangements		Amount of Cash Collateral Posted		Additional Settlement Liability if Cross Default Provision is Triggered
	(in thousands)
APCo	$	19,648	$	—	$	18,568
I&M	13,326		—		12,594
OPCo	—		—		—
PSO	3		—		3
SWEPCo	3		—		3

December 31, 2014



Primary Risk Exposure	Unit of Measure	APCo		I&M		OPCo		PSO		SWEPCo
				(in thousands)
Commodity:
Power	MWhs	32,479		23,774		20,334		16,765		20,469
Coal	Tons	279		500		—		—		1,500
Natural Gas	MMBtus	421		286		—		—		—
Heating Oil and Gasoline	Gallons	1,089		521		1,108		614		699
Interest Rate	USD	$	5,094	$	3,455	$	—	$	—	$	—

Notional Volume of Derivative Instruments

December 31, 2013



Primary Risk Exposure	Unit of Measure	APCo		I&M		OPCo		PSO		SWEPCo
				(in thousands)
Commodity:
Power	MWhs	48,995		33,231		34,843		13,469		17,057
Coal	Tons	31		3,389		—		1,013		1,692
Natural Gas	MMBtus	2,477		1,680		—		—		—
Heating Oil and Gasoline	Gallons	1,089		521		1,108		614		699
Interest Rate	USD	$	12,720	$	8,627	$	—	$	—	$	—



	December 31,
	2014				2013
Company	Cash Collateral Received Netted Against Risk Management Assets		Cash Collateral Paid Netted Against Risk Management Liabilities		Cash Collateral Received Netted Against Risk Management Assets		Cash Collateral Paid Netted Against Risk Management Liabilities
	(in thousands)
APCo	$	68	$	98	$	—	$	2,993
I&M	163		47		—		2,030
OPCo	—		102		—		—
PSO	—		54		—		1
SWEPCo	—		62		—		3

Amount of Gain (Loss) Recognized on Risk Management Contracts

PSO

Fair Value of Derivative Instruments

December 31, 2014



	Risk Management Contracts			Hedging Contracts				Gross Amounts of Risk Management Assets/ Liabilities Recognized			Gross Amounts Offset in the Statement of Financial Position (b)			Net Amounts of Assets/Liabilities Presented in the Statement of Financial Position (c)
Balance Sheet Location	Commodity (a)			Commodity (a)		Interest Rate and Foreign Currency (a)
	(in thousands)
Current Risk Management Assets	$	360		$	—	$	—	$	360		$	(360	)	$	—
Long-term Risk Management Assets	—			—		—		—			—			—
Total Assets	360			—		—		360			(360		)	—

Current Risk Management Liabilities	1,332			—		—		1,332			(414		)	918
Long-term Risk Management Liabilities	—			—		—		—			—			—
Total Liabilities	1,332			—		—		1,332			(414		)	918

Total MTM Derivative Contract Net Assets (Liabilities)	$	(972	)	$	—	$	—	$	(972	)	$	54		$	(918	)

PSO

Fair Value of Derivative Instruments

December 31, 2013



	Risk Management Contracts		Hedging Contracts				Gross Amounts of Risk Management Assets/ Liabilities Recognized		Gross Amounts Offset in the Statement of Financial Position (b)		Net Amounts of Assets/Liabilities Presented in the Statement of Financial Position (c)
Balance Sheet Location	Commodity (a)		Commodity (a)		Interest Rate and Foreign Currency (a)
	(in thousands)
Current Risk Management Assets	$	1,078	$	84	$	—	$	1,162	$	5	$	1,167
Long-term Risk Management Assets	—		—		—		—		—		—
Total Assets	1,078		84		—		1,162		5		1,167

Current Risk Management Liabilities	81		—		—		81		4		85
Long-term Risk Management Liabilities	—		—		—		—		—		—
Total Liabilities	81		—		—		81		4		85

Total MTM Derivative Contract Net Assets (Liabilities)	$	997	$	84	$	—	$	1,081	$	1	$	1,082


(a)	Derivative instruments within these categories are reported gross. These instruments are subject to master netting agreements and are presented on the balance sheets on a net basis in accordance with the accounting guidance for "Derivatives and Hedging."


(b)	Amounts include counterparty netting of risk management and hedging contracts and associated cash collateral in accordance with the accounting guidance for "Derivatives and Hedging."


(c)	There are no derivative contracts subject to a master netting arrangement or similar agreement which are not offset in the statement of financial position.

Amount of Gain (Loss) Recognized on

Risk Management Contracts

Year Ended December 31, 2014



Location of Gain (Loss)	APCo			I&M			OPCo		PSO			SWEPCo
	(in thousands)
Electric Generation, Transmission and Distribution Revenues	$	8,732		$	13,151		$	40	$	185		$	56
Sales to AEP Affiliates	—			(854		)	—		854			—
Regulatory Assets (a)	(4,077		)	(503		)	—		(970		)	(1,142		)
Regulatory Liabilities (a)	49,555			37,410			85,944		304			16,851
Total Gain on Risk Management Contracts	$	54,210		$	49,204		$	85,984	$	373		$	15,765

Amount of Gain (Loss) Recognized on

Risk Management Contracts

Year Ended December 31, 2013



Location of Gain (Loss)	APCo			I&M			OPCo			PSO		SWEPCo
	(in thousands)
Electric Generation, Transmission and Distribution Revenues	$	2,019		$	10,624		$	4,886		$	371	$	647
Regulatory Assets (a)	(4		)	(26		)	(5,795		)	2,956		424
Regulatory Liabilities (a)	(338		)	(9,062		)	2,920			999		1,462
Total Gain on Risk Management Contracts	$	1,677		$	1,536		$	2,011		$	4,326	$	2,533

Amount of Gain (Loss) Recognized on

Risk Management Contracts

Year Ended December 31, 2012



Location of Gain (Loss)	APCo			I&M			OPCo			PSO			SWEPCo
	(in thousands)
Electric Generation, Transmission and Distribution Revenues	$	(1,149	)	$	11,437		$	11,978		$	163		$	398
Regulatory Assets (a)	(7,835		)	(9,204		)	(14,104		)	(5,304		)	(6,274		)
Regulatory Liabilities (a)	7,314			(889		)	—			(19		)	(13		)
Total Gain (Loss) on Risk Management Contracts	$	(1,670	)	$	1,344		$	(2,126	)	$	(5,160	)	$	(5,889	)


(a)	Represents realized and unrealized gains and losses subject to regulatory accounting treatment recorded as either current or noncurrent on the balance sheets.

Collateral Required Under Various Triggering Events

Impact of Cash Flow Hedges on the Registrant Subsidiaries’

Balance Sheets

December 31, 2014



	Hedging Assets (a)				Hedging Liabilities (a)				AOCI Gain (Loss) Net of Tax
Company	Commodity		Interest Rate and Foreign Currency		Commodity		Interest Rate and Foreign Currency		Commodity		Interest Rate and Foreign Currency

APCo	$	—	$	—	$	—	$	—	$	—	$	3,896
I&M	—		—		—		—		—		(14,406		)
OPCo	—		—		—		—		—		5,602
PSO	—		—		—		—		—		4,943
SWEPCo	—		—		—		—		—		(11,036		)



	Expected to be Reclassified to Net Income During the Next Twelve Months
Company	Commodity		Interest Rate and Foreign Currency			Maximum Term for Exposure to Variability of Future Cash Flows
	(in thousands)					(in months)
APCo	$	—	$	275		0
I&M	—		(1,090		)	0
OPCo	—		1,372			0
PSO	—		759			0
SWEPCo	—		(1,998		)	0

Impact of Cash Flow Hedges on the Registrant Subsidiaries’

Balance Sheets

December 31, 2013



	Hedging Assets (a)				Hedging Liabilities (a)				AOCI Gain (Loss) Net of Tax
Company	Commodity		Interest Rate and Foreign Currency		Commodity		Interest Rate and Foreign Currency		Commodity		Interest Rate and Foreign Currency

APCo	$	363	$	—	$	287	$	—	$	94	$	3,090
I&M	216		—		194		—		46		(15,976		)
OPCo	162		—		—		—		105		6,974
PSO	84		—		—		—		57		5,701
SWEPCo	97		—		—		—		66		(13,304		)



	Expected to be Reclassified to Net Income During the Next Twelve Months
Company	Commodity		Interest Rate and Foreign Currency
	(in thousands)
APCo	$	94	$	(806	)
I&M	46		(1,568		)
OPCo	105		1,363
PSO	57		759
SWEPCo	66		(2,267		)


(a)	Hedging Assets and Hedging Liabilities are included in Risk Management Assets and Liabilities on the balance sheets.



	December 31, 2014
Company	Fair Value of Contracts with Credit Downgrade Triggers		Amount of Collateral Registrant Subsidiaries' Would Have Been Required to Post for Derivative Contracts as well as Non- Derivative Contracts Subject to the Same Master Netting Arrangement		Amount of Collateral the Registrant Subsidiaries' Would Have Been Required to Post Attributable to RTOs and ISOs		Amount of Collateral Attributable to Other Contracts
	(in thousands)
APCo	$	—	$	—	$	6,339	$	74
I&M	—		—		4,299		47
OPCo	—		—		—		—
PSO	—		—		693		4,111
SWEPCo	—		—		877		166



	December 31, 2013
Company	Fair Value of Contracts with Credit Downgrade Triggers		Amount of Collateral Registrant Subsidiaries' Would Have Been Required to Post for Derivative Contracts as well as Non- Derivative Contracts Subject to the Same Master Netting Arrangement		Amount of Collateral the Registrant Subsidiaries' Would Have Been Required to Post Attributable to RTOs and ISOs		Amount of Collateral Attributable to Other Contracts
	(in thousands)
APCo	$	575	$	—	$	2,539	$	208
I&M	390		—		1,722		141
OPCo	349		—		—		—
PSO	—		—		410		2,520
SWEPCo	—		—		519		194

Southwestern Electric Power Co [Member]



	December 31, 2014
Company	Liabilities for Contracts with Cross Default Provisions Prior to Contractual Netting Arrangements		Amount of Cash Collateral Posted		Additional Settlement Liability if Cross Default Provision is Triggered
	(in thousands)
APCo	$	9,043	$	—	$	9,012
I&M	6,134		—		6,113
OPCo	—		—		—
PSO	—		—		—
SWEPCo	—		—		—



	December 31, 2013
Company	Liabilities for Contracts with Cross Default Provisions Prior to Contractual Netting Arrangements		Amount of Cash Collateral Posted		Additional Settlement Liability if Cross Default Provision is Triggered
	(in thousands)
APCo	$	19,648	$	—	$	18,568
I&M	13,326		—		12,594
OPCo	—		—		—
PSO	3		—		3
SWEPCo	3		—		3

December 31, 2014



Primary Risk Exposure	Unit of Measure	APCo		I&M		OPCo		PSO		SWEPCo
				(in thousands)
Commodity:
Power	MWhs	32,479		23,774		20,334		16,765		20,469
Coal	Tons	279		500		—		—		1,500
Natural Gas	MMBtus	421		286		—		—		—
Heating Oil and Gasoline	Gallons	1,089		521		1,108		614		699
Interest Rate	USD	$	5,094	$	3,455	$	—	$	—	$	—

Notional Volume of Derivative Instruments

December 31, 2013



Primary Risk Exposure	Unit of Measure	APCo		I&M		OPCo		PSO		SWEPCo
				(in thousands)
Commodity:
Power	MWhs	48,995		33,231		34,843		13,469		17,057
Coal	Tons	31		3,389		—		1,013		1,692
Natural Gas	MMBtus	2,477		1,680		—		—		—
Heating Oil and Gasoline	Gallons	1,089		521		1,108		614		699
Interest Rate	USD	$	12,720	$	8,627	$	—	$	—	$	—



	December 31,
	2014				2013
Company	Cash Collateral Received Netted Against Risk Management Assets		Cash Collateral Paid Netted Against Risk Management Liabilities		Cash Collateral Received Netted Against Risk Management Assets		Cash Collateral Paid Netted Against Risk Management Liabilities
	(in thousands)
APCo	$	68	$	98	$	—	$	2,993
I&M	163		47		—		2,030
OPCo	—		102		—		—
PSO	—		54		—		1
SWEPCo	—		62		—		3

Amount of Gain (Loss) Recognized on Risk Management Contracts

SWEPCo

Fair Value of Derivative Instruments

December 31, 2014



	Risk Management Contracts			Hedging Contracts				Gross Amounts of Risk Management Assets/ Liabilities Recognized			Gross Amounts Offset in the Statement of Financial Position (b)			Net Amounts of Assets/Liabilities Presented in the Statement of Financial Position (c)
Balance Sheet Location	Commodity (a)			Commodity (a)		Interest Rate and Foreign Currency (a)
	(in thousands)
Current Risk Management Assets	$	471		$	—	$	—	$	471		$	(440	)	$	31
Long-term Risk Management Assets	—			—		—		—			—			—
Total Assets	471			—		—		471			(440		)	31

Current Risk Management Liabilities	1,584			—		—		1,584			(502		)	1,082
Long-term Risk Management Liabilities	—			—		—		—			—			—
Total Liabilities	1,584			—		—		1,584			(502		)	1,082

Total MTM Derivative Contract Net Assets (Liabilities)	$	(1,113	)	$	—	$	—	$	(1,113	)	$	62		$	(1,051	)

SWEPCo

Fair Value of Derivative Instruments

December 31, 2013



	Risk Management Contracts		Hedging Contracts				Gross Amounts of Risk Management Assets/ Liabilities Recognized		Gross Amounts Offset in the Statement of Financial Position (b)			Net Amounts of Assets/Liabilities Presented in the Statement of Financial Position (c)
Balance Sheet Location	Commodity (a)		Commodity (a)		Interest Rate and Foreign Currency (a)
	(in thousands)
Current Risk Management Assets	$	1,233	$	97	$	—	$	1,330	$	(151	)	$	1,179
Long-term Risk Management Assets	—		—		—		—		—			—
Total Assets	1,233		97		—		1,330		(151		)	1,179

Current Risk Management Liabilities	154		—		—		154		(154		)	—
Long-term Risk Management Liabilities	—		—		—		—		—			—
Total Liabilities	154		—		—		154		(154		)	—

Total MTM Derivative Contract Net Assets (Liabilities)	$	1,079	$	97	$	—	$	1,176	$	3		$	1,179


(a)	Derivative instruments within these categories are reported gross. These instruments are subject to master netting agreements and are presented on the balance sheets on a net basis in accordance with the accounting guidance for "Derivatives and Hedging."


(b)	Amounts include counterparty netting of risk management and hedging contracts and associated cash collateral in accordance with the accounting guidance for "Derivatives and Hedging."


(c)	There are no derivative contracts subject to a master netting arrangement or similar agreement which are not offset in the statement of financial position.

Amount of Gain (Loss) Recognized on

Risk Management Contracts

Year Ended December 31, 2014



Location of Gain (Loss)	APCo			I&M			OPCo		PSO			SWEPCo
	(in thousands)
Electric Generation, Transmission and Distribution Revenues	$	8,732		$	13,151		$	40	$	185		$	56
Sales to AEP Affiliates	—			(854		)	—		854			—
Regulatory Assets (a)	(4,077		)	(503		)	—		(970		)	(1,142		)
Regulatory Liabilities (a)	49,555			37,410			85,944		304			16,851
Total Gain on Risk Management Contracts	$	54,210		$	49,204		$	85,984	$	373		$	15,765

Amount of Gain (Loss) Recognized on

Risk Management Contracts

Year Ended December 31, 2013



Location of Gain (Loss)	APCo			I&M			OPCo			PSO		SWEPCo
	(in thousands)
Electric Generation, Transmission and Distribution Revenues	$	2,019		$	10,624		$	4,886		$	371	$	647
Regulatory Assets (a)	(4		)	(26		)	(5,795		)	2,956		424
Regulatory Liabilities (a)	(338		)	(9,062		)	2,920			999		1,462
Total Gain on Risk Management Contracts	$	1,677		$	1,536		$	2,011		$	4,326	$	2,533

Amount of Gain (Loss) Recognized on

Risk Management Contracts

Year Ended December 31, 2012



Location of Gain (Loss)	APCo			I&M			OPCo			PSO			SWEPCo
	(in thousands)
Electric Generation, Transmission and Distribution Revenues	$	(1,149	)	$	11,437		$	11,978		$	163		$	398
Regulatory Assets (a)	(7,835		)	(9,204		)	(14,104		)	(5,304		)	(6,274		)
Regulatory Liabilities (a)	7,314			(889		)	—			(19		)	(13		)
Total Gain (Loss) on Risk Management Contracts	$	(1,670	)	$	1,344		$	(2,126	)	$	(5,160	)	$	(5,889	)


(a)	Represents realized and unrealized gains and losses subject to regulatory accounting treatment recorded as either current or noncurrent on the balance sheets.

Collateral Required Under Various Triggering Events

Impact of Cash Flow Hedges on the Registrant Subsidiaries’

Balance Sheets

December 31, 2014



	Hedging Assets (a)				Hedging Liabilities (a)				AOCI Gain (Loss) Net of Tax
Company	Commodity		Interest Rate and Foreign Currency		Commodity		Interest Rate and Foreign Currency		Commodity		Interest Rate and Foreign Currency

APCo	$	—	$	—	$	—	$	—	$	—	$	3,896
I&M	—		—		—		—		—		(14,406		)
OPCo	—		—		—		—		—		5,602
PSO	—		—		—		—		—		4,943
SWEPCo	—		—		—		—		—		(11,036		)



	Expected to be Reclassified to Net Income During the Next Twelve Months
Company	Commodity		Interest Rate and Foreign Currency			Maximum Term for Exposure to Variability of Future Cash Flows
	(in thousands)					(in months)
APCo	$	—	$	275		0
I&M	—		(1,090		)	0
OPCo	—		1,372			0
PSO	—		759			0
SWEPCo	—		(1,998		)	0

Impact of Cash Flow Hedges on the Registrant Subsidiaries’

Balance Sheets

December 31, 2013



	Hedging Assets (a)				Hedging Liabilities (a)				AOCI Gain (Loss) Net of Tax
Company	Commodity		Interest Rate and Foreign Currency		Commodity		Interest Rate and Foreign Currency		Commodity		Interest Rate and Foreign Currency

APCo	$	363	$	—	$	287	$	—	$	94	$	3,090
I&M	216		—		194		—		46		(15,976		)
OPCo	162		—		—		—		105		6,974
PSO	84		—		—		—		57		5,701
SWEPCo	97		—		—		—		66		(13,304		)



	Expected to be Reclassified to Net Income During the Next Twelve Months
Company	Commodity		Interest Rate and Foreign Currency
	(in thousands)
APCo	$	94	$	(806	)
I&M	46		(1,568		)
OPCo	105		1,363
PSO	57		759
SWEPCo	66		(2,267		)


(a)	Hedging Assets and Hedging Liabilities are included in Risk Management Assets and Liabilities on the balance sheets.



	December 31, 2014
Company	Fair Value of Contracts with Credit Downgrade Triggers		Amount of Collateral Registrant Subsidiaries' Would Have Been Required to Post for Derivative Contracts as well as Non- Derivative Contracts Subject to the Same Master Netting Arrangement		Amount of Collateral the Registrant Subsidiaries' Would Have Been Required to Post Attributable to RTOs and ISOs		Amount of Collateral Attributable to Other Contracts
	(in thousands)
APCo	$	—	$	—	$	6,339	$	74
I&M	—		—		4,299		47
OPCo	—		—		—		—
PSO	—		—		693		4,111
SWEPCo	—		—		877		166



	December 31, 2013
Company	Fair Value of Contracts with Credit Downgrade Triggers		Amount of Collateral Registrant Subsidiaries' Would Have Been Required to Post for Derivative Contracts as well as Non- Derivative Contracts Subject to the Same Master Netting Arrangement		Amount of Collateral the Registrant Subsidiaries' Would Have Been Required to Post Attributable to RTOs and ISOs		Amount of Collateral Attributable to Other Contracts
	(in thousands)
APCo	$	575	$	—	$	2,539	$	208
I&M	390		—		1,722		141
OPCo	349		—		—		—
PSO	—		—		410		2,520
SWEPCo	—		—		519		194