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Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
Revenues        
Vertically Integrated Utilities $ 2,159,000 $ 2,236,000 $ 4,646,000 $ 4,785,000
Transmission and Distribution Utilities 1,008,000 1,064,000 2,214,000 2,225,000
Generation & Marketing 628,000 573,000 1,487,000 1,394,000
Other Revenues 147,000 171,000 303,000 288,000
TOTAL REVENUES 3,942,000 4,044,000 8,650,000 8,692,000
Expenses        
Fuel and Other Consumables Used for Electric Generation 756,000 1,043,000 1,827,000 2,211,000
Purchased Electricity for Resale 601,000 473,000 1,319,000 1,111,000
Other Operation 695,000 760,000 1,441,000 1,540,000
Maintenance 333,000 340,000 627,000 632,000
Depreciation and Amortization 506,000 443,000 1,011,000 934,000
Taxes Other Than Income Taxes 242,000 218,000 492,000 456,000
TOTAL EXPENSES 3,133,000 3,277,000 6,717,000 6,884,000
OPERATING INCOME (LOSS) 809,000 767,000 1,933,000 1,808,000
Other Income (Expense):        
Interest and Investment Income 3,000 3,000 4,000 4,000
Carrying Costs Income 9,000 9,000 17,000 15,000
Allowance for Equity Funds Used During Construction 34,000 25,000 64,000 47,000
Interest Expense (224,000) (221,000) (447,000) (441,000)
INCOME BEFORE INCOME TAX EXPENSE (CREDIT) AND EQUITY EARNINGS (LOSS) 631,000 583,000 1,571,000 1,433,000
Income Tax Expense (Credit) 225,000 215,000 558,000 522,000
Equity Earnings (Loss) of Unconsolidated Subsidiaries 25,000 23,000 49,000 41,000
NET INCOME (LOSS) 431,000 391,000 1,062,000 952,000
Net Income Attributable to Noncontrolling Interests 1,000 1,000 3,000 2,000
EARNINGS ATTRIBUTABLE TO COMMON SHAREHOLDERS $ 430,000 $ 390,000 $ 1,059,000 $ 950,000
Earnings Per Share        
WEIGHTED AVERAGE NUMBER OF BASIC AEP COMMON SHARES OUTSTANDING 490,207,482 488,291,576 489,904,417 488,080,505
TOTAL BASIC EARNINGS PER SHARE ATTRIBUTABLE TO AEP COMMON SHAREHOLDERS $ 0.88 $ 0.80 $ 2.16 $ 1.95
WEIGHTED AVERAGE NUMBER OF DILUTED AEP COMMON SHARES OUTSTANDING 490,484,450 488,538,227 490,212,271 488,405,869
TOTAL DILUTED EARNINGS PER SHARE ATTRIBUTABLE TO AEP COMMON SHAREHOLDERS $ 0.88 $ 0.80 $ 2.16 $ 1.95
CASH DIVIDENDS DECLARED PER SHARE $ 0.53 $ 0.5 $ 1.06 $ 1
Appalachian Power Co [Member]        
Revenues        
Vertically Integrated Utilities $ 645,452 $ 664,051 $ 1,499,631 $ 1,530,508
Sales to AEP Affiliates 33,836 28,070 76,351 72,984
Other Revenues 2,692 2,547 5,013 4,567
TOTAL REVENUES 681,980 694,668 1,580,995 1,608,059
Expenses        
Fuel and Other Consumables Used for Electric Generation 183,485 202,903 406,732 433,640
Purchased Electricity for Resale 65,715 86,033 178,384 255,024
Purchased Electricity from AEP Affiliates 0 0 0 4,662
Other Operation 103,720 99,896 209,790 193,434
Maintenance 57,037 69,484 109,334 129,574
Depreciation and Amortization 96,297 95,650 196,440 200,236
Taxes Other Than Income Taxes 30,040 30,025 61,087 60,802
TOTAL EXPENSES 536,294 583,991 1,161,767 1,277,372
OPERATING INCOME (LOSS) 145,686 110,677 419,228 330,687
Other Income (Expense):        
Interest Income 449 389 838 790
Carrying Costs Income 417 263 710 (1,612)
Allowance for Equity Funds Used During Construction 3,897 1,625 6,905 2,860
Interest Expense (48,684) (53,130) (98,975) (104,802)
INCOME BEFORE INCOME TAX EXPENSE (CREDIT) AND EQUITY EARNINGS (LOSS) 101,765 59,824 328,706 227,923
Income Tax Expense (Credit) 42,713 23,577 127,861 89,825
NET INCOME (LOSS) 59,052 36,247 200,845 138,098
Indiana Michigan Power Co [Member]        
Revenues        
Vertically Integrated Utilities 515,027 506,997 1,081,277 1,121,840
Sales to AEP Affiliates 6,504 1,068 6,957 3,352
Other Revenues - Affiliated 21,931 25,262 40,511 49,989
Other Revenues 812 549 1,840 549
TOTAL REVENUES 544,274 533,876 1,130,585 1,175,730
Expenses        
Fuel and Other Consumables Used for Electric Generation 74,041 113,700 173,925 270,343
Purchased Electricity for Resale 50,260 27,086 106,167 32,448
Purchased Electricity from AEP Affiliates 59,993 65,190 114,958 137,246
Other Operation 137,306 146,272 266,266 287,622
Maintenance 59,829 54,246 107,180 102,811
Depreciation and Amortization 49,540 49,446 100,947 99,477
Taxes Other Than Income Taxes 21,977 20,803 45,384 42,626
TOTAL EXPENSES 452,946 476,743 914,827 972,573
OPERATING INCOME (LOSS) 91,328 57,133 215,758 203,157
Other Income (Expense):        
Interest Income 3,578 1,729 5,326 2,778
Allowance for Equity Funds Used During Construction 2,907 4,804 6,950 8,768
Interest Expense (22,968) (23,705) (45,745) (49,338)
INCOME BEFORE INCOME TAX EXPENSE (CREDIT) AND EQUITY EARNINGS (LOSS) 74,845 39,961 182,289 165,365
Income Tax Expense (Credit) 24,264 12,627 59,034 50,942
NET INCOME (LOSS) 50,581 27,334 123,255 114,423
Ohio Power Co [Member]        
Revenues        
Transmission and Distribution Utilities 670,250 739,962 1,544,467 1,586,868
Sales to AEP Affiliates 33,158 44,443 75,264 76,421
Other Revenues 2,346 1,756 4,463 3,064
TOTAL REVENUES 705,754 786,161 1,624,194 1,666,353
Expenses        
Purchased Electricity for Resale 116,434 64,059 258,514 143,189
Purchased Electricity from AEP Affiliates 146,207 267,631 416,811 581,755
Amortization of Generation Deferrals 35,301 24,977 66,755 56,163
Other Operation 129,829 131,485 276,673 282,911
Maintenance 34,214 48,590 81,787 83,241
Depreciation and Amortization 55,640 51,485 114,852 110,184
Taxes Other Than Income Taxes 91,639 83,913 189,426 179,170
TOTAL EXPENSES 609,264 672,140 1,404,818 1,436,613
OPERATING INCOME (LOSS) 96,490 114,021 219,376 229,740
Other Income (Expense):        
Interest Income 1,250 2,899 3,163 6,173
Carrying Costs Income 5,153 6,874 11,613 13,988
Allowance for Equity Funds Used During Construction 2,343 1,342 4,787 3,068
Interest Expense (31,271) (32,759) (63,720) (65,766)
INCOME BEFORE INCOME TAX EXPENSE (CREDIT) AND EQUITY EARNINGS (LOSS) 73,965 92,377 175,219 187,203
Income Tax Expense (Credit) 26,213 35,842 62,100 69,894
NET INCOME (LOSS) 47,752 56,535 113,119 117,309
Public Service Co Of Oklahoma [Member]        
Revenues        
Vertically Integrated Utilities 317,611 316,524 622,284 613,234
Sales to AEP Affiliates 1,164 854 2,443 5,451
Other Revenues 729 1,437 1,549 1,515
TOTAL REVENUES 319,504 318,815 626,276 620,200
Expenses        
Fuel and Other Consumables Used for Electric Generation 52,981 41,612 138,580 107,549
Purchased Electricity for Resale 85,036 104,604 150,559 184,295
Purchased Electricity from AEP Affiliates 0 0 0 11,024
Other Operation 61,028 62,785 121,793 121,496
Maintenance 25,943 29,678 47,083 54,423
Depreciation and Amortization 29,782 24,607 59,316 48,589
Taxes Other Than Income Taxes 9,238 6,651 18,516 18,620
TOTAL EXPENSES 264,008 269,937 535,847 545,996
OPERATING INCOME (LOSS) 55,496 48,878 90,429 74,204
Other Income (Expense):        
Interest Income 92 4 128 1
Allowance for Equity Funds Used During Construction 2,283 590 3,610 2,021
Interest Expense (14,852) (13,779) (29,422) (27,096)
INCOME BEFORE INCOME TAX EXPENSE (CREDIT) AND EQUITY EARNINGS (LOSS) 43,019 35,693 64,745 49,130
Income Tax Expense (Credit) 15,921 13,244 23,962 18,233
NET INCOME (LOSS) 27,098 22,449 40,783 30,897
Southwestern Electric Power Co [Member]        
Revenues        
Vertically Integrated Utilities 433,187 444,652 861,722 871,279
Sales to AEP Affiliates 4,486 3,947 7,156 17,545
Other Revenues 364 684 868 1,049
TOTAL REVENUES 438,037 449,283 869,746 889,873
Expenses        
Fuel and Other Consumables Used for Electric Generation 125,365 161,116 283,097 306,703
Purchased Electricity for Resale 27,188 40,255 47,202 101,420
Purchased Electricity from AEP Affiliates 0 0 0 3,766
Other Operation 67,899 69,304 133,444 137,841
Maintenance 38,237 33,668 65,651 64,079
Depreciation and Amortization 47,964 45,864 94,918 91,525
Taxes Other Than Income Taxes 21,316 20,289 43,048 41,026
TOTAL EXPENSES 327,969 370,496 667,360 746,360
OPERATING INCOME (LOSS) 110,068 78,787 202,386 143,513
Other Income (Expense):        
Interest Income 1,184 206 1,164 92
Allowance for Equity Funds Used During Construction 5,882 2,197 11,111 4,278
Interest Expense (31,945) (31,738) (62,160) (63,614)
INCOME BEFORE INCOME TAX EXPENSE (CREDIT) AND EQUITY EARNINGS (LOSS) 85,189 49,452 152,501 84,269
Income Tax Expense (Credit) 26,887 17,045 48,059 29,210
Equity Earnings (Loss) of Unconsolidated Subsidiaries 1,124 416 1,721 726
NET INCOME (LOSS) 59,426 32,823 106,163 55,785
Net Income Attributable to Noncontrolling Interests 956 1,126 1,989 2,228
EARNINGS ATTRIBUTABLE TO COMMON SHAREHOLDERS $ 58,470 $ 31,697 $ 104,174 $ 53,557