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Consolidated Statements of Income - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Revenues        
Vertically Integrated Utilities $ 2,340.7 $ 2,095.7 $ 4,722.2 $ 4,365.5
Transmission and Distribution Utilities 1,127.9 1,026.6 2,269.1 2,093.0
Generation & Marketing 435.3 386.5 912.8 945.3
Sales to AEP Affiliates 0.0 0.0 0.0 0.0
Other Revenues 109.3 67.7 157.4 106.0
TOTAL REVENUES 4,013.2 3,576.5 8,061.5 7,509.8
Expenses        
Fuel and Other Consumables Used for Electric Generation 566.9 522.3 1,068.7 1,157.9
Purchased Electricity for Resale 776.7 669.2 1,767.0 1,438.8
Other Operation 780.3 616.4 1,506.7 1,240.1
Maintenance 295.9 290.1 594.4 593.6
Gain on Sale of Merchant Generation Assets 0.0 0.1 0.0 (226.4)
Depreciation and Amortization 553.2 485.5 1,092.9 967.4
Taxes Other Than Income Taxes 283.2 259.6 568.8 519.4
TOTAL EXPENSES 3,256.2 2,843.2 6,598.5 5,690.8
OPERATING INCOME (LOSS) 757.0 733.3 1,463.0 1,819.0
Other Income (Expense):        
Interest and Investment Income 3.8 2.3 5.9 10.3
Carrying Costs Income 2.9 5.7 6.3 11.6
Allowance for Equity Funds Used During Construction 30.8 21.0 61.5 42.2
Non-Service Cost Components of Net Periodic Benefit Cost 31.4 11.4 63.4 22.8
Interest Expense (242.3) (222.9) (476.3) (444.7)
INCOME BEFORE INCOME TAX EXPENSE AND EQUITY EARNINGS 583.6 550.8 1,123.8 1,461.2
Income Tax Expense (Credit) 72.2 190.6 174.2 533.8
Equity Earnings (Loss) of Unconsolidated Subsidiaries 18.7 16.0 37.2 43.0
Net Income (Loss) 530.1 376.2 986.8 970.4
Net Income Attributable to Noncontrolling Interests 1.7 1.2 4.0 3.2
Earnings Attributable to Common Shareholders $ 528.4 $ 375.0 $ 982.8 $ 967.2
Earnings Per Share        
Weighted Average Number of Basic AEP Common Shares Outstanding 492,688,342 491,790,752 492,479,035 491,751,614
Basic Earnings Per Share Attributable to AEP Common Shareholders from Continuing Operations $ 1.07 $ 0.76 $ 2.00 $ 1.97
Total Basic Earnings Per Share Attributable to AEP Common Shareholders $ 1.07 $ 0.76 $ 2.00 $ 1.97
Weighted Average Number of Diluted AEP Common Shares Outstanding 493,505,085 492,642,100 493,317,355 492,337,255
Diluted Earnings Per Share Attributable to AEP Common Shareholders from Continuing Operations $ 1.07 $ 0.76 $ 1.99 $ 1.96
Total Diluted Earnings Per Share Attributable to AEP Common Shareholders 1.07 0.76 1.99 1.96
Common Stock, Dividends Per Share, Declared $ 0.62 $ 0.59 $ 1.24 $ 1.18
AEP Texas Inc. [Member]        
Revenues        
Transmission and Distribution Utilities $ 370.1 $ 371.0 $ 722.5 $ 699.9
Sales to AEP Affiliates 17.6 17.8 35.8 31.9
Other Revenues 0.6 0.7 1.6 1.3
TOTAL REVENUES 388.3 389.5 759.9 733.1
Expenses        
Fuel and Other Consumables Used for Electric Generation 5.8 5.9 14.7 8.9
Other Operation 118.0 106.5 235.0 215.3
Maintenance 23.1 20.4 44.6 38.8
Depreciation and Amortization 121.6 116.2 231.6 219.0
Taxes Other Than Income Taxes 33.6 31.7 66.0 60.0
TOTAL EXPENSES 302.1 280.7 591.9 542.0
OPERATING INCOME (LOSS) 86.2 108.8 168.0 191.1
Other Income (Expense):        
Allowance for Equity Funds Used During Construction     9.4 2.2
Other Income 2.9 0.5 8.9 3.3
Non-Service Cost Components of Net Periodic Benefit Cost 3.0 0.9 6.1 1.8
Interest Expense (36.6) (35.3) (71.6) (70.3)
INCOME BEFORE INCOME TAX EXPENSE AND EQUITY EARNINGS 55.5 74.9 111.4 125.9
Income Tax Expense (Credit) 9.0 25.9 18.1 43.6
Net Income (Loss) 46.5 49.0 93.3 82.3
AEP Transmission Co [Member]        
Revenues        
Electrical Transmission Revenue 51.2 44.0 82.5 63.2
Sales to AEP Affiliates 132.6 185.4 294.7 318.8
Other Revenues 0.0 0.0 0.1 0.1
TOTAL REVENUES 183.8 229.4 377.3 382.1
Expenses        
Other Operation 18.5 11.3 35.1 20.4
Maintenance 2.2 2.3 4.8 5.4
Depreciation and Amortization 32.4 22.8 63.0 46.1
Taxes Other Than Income Taxes 36.6 27.6 67.7 54.4
TOTAL EXPENSES 89.7 64.0 170.6 126.3
OPERATING INCOME (LOSS) 94.1 165.4 206.7 255.8
Other Income (Expense):        
Interest Income 0.4 0.1 0.8 0.3
Allowance for Equity Funds Used During Construction 16.3 13.4 31.6 24.3
Interest Expense (20.3) (15.7) (40.2) (31.7)
INCOME BEFORE INCOME TAX EXPENSE AND EQUITY EARNINGS 90.5 163.2 198.9 248.7
Income Tax Expense (Credit) 20.0 55.8 42.5 84.3
Net Income (Loss) 70.5 107.4 156.4 164.4
Appalachian Power Co [Member]        
Revenues        
Vertically Integrated Utilities 618.8 625.6 1,386.3 1,370.6
Sales to AEP Affiliates 46.4 46.3 95.8 88.7
Other Revenues 1.8 3.4 5.3 8.8
TOTAL REVENUES 667.0 675.3 1,487.4 1,468.1
Expenses        
Fuel and Other Consumables Used for Electric Generation 155.3 152.5 224.3 319.7
Purchased Electricity for Resale 64.5 65.2 270.4 156.0
Other Operation 109.9 139.2 248.1 253.1
Maintenance 65.7 60.8 137.7 132.0
Depreciation and Amortization 105.3 100.7 213.8 201.3
Taxes Other Than Income Taxes 33.7 30.8 67.5 61.0
TOTAL EXPENSES 534.4 549.2 1,161.8 1,123.1
OPERATING INCOME (LOSS) 132.6 126.1 325.6 345.0
Other Income (Expense):        
Interest Income 0.6 0.5 0.9 0.8
Carrying Costs Income 0.5 0.3 1.0 0.6
Allowance for Equity Funds Used During Construction 2.9 2.0 5.5 3.5
Non-Service Cost Components of Net Periodic Benefit Cost 4.4 1.3 8.9 2.6
Interest Expense (47.8) (48.2) (95.2) (96.3)
INCOME BEFORE INCOME TAX EXPENSE AND EQUITY EARNINGS 93.2 82.0 246.7 256.2
Income Tax Expense (Credit) 15.8 29.9 43.8 93.5
Net Income (Loss) 77.4 52.1 202.9 162.7
Indiana Michigan Power Co [Member]        
Revenues        
Vertically Integrated Utilities 560.1 451.9 1,114.0 990.4
Other Revenues - Affiliated 27.2 12.4 45.1 31.1
Other Revenues 2.4 3.0 7.4 6.3
TOTAL REVENUES 589.7 467.3 1,166.5 1,027.8
Expenses        
Fuel and Other Consumables Used for Electric Generation 73.4 71.1 150.9 161.8
Purchased Electricity for Resale 63.2 31.0 118.8 68.3
Purchased Electricity from AEP Affiliates 60.4 49.9 121.8 103.8
Other Operation 130.4 159.7 276.5 296.8
Maintenance 57.4 50.7 111.9 102.1
Depreciation and Amortization 62.6 49.8 121.9 99.8
Taxes Other Than Income Taxes 24.9 21.5 49.9 44.4
TOTAL EXPENSES 472.3 433.7 951.7 877.0
OPERATING INCOME (LOSS) 117.4 33.6 214.8 150.8
Other Income (Expense):        
Interest Income 1.0 0.3 1.2 1.4
Carrying Costs Income 1.6 4.3 4.0 7.7
Allowance for Equity Funds Used During Construction 2.3 2.5 4.1 4.6
Non-Service Cost Components of Net Periodic Benefit Cost 4.5 1.6 9.0 3.1
Interest Expense (31.4) (27.8) (61.1) (55.5)
INCOME BEFORE INCOME TAX EXPENSE AND EQUITY EARNINGS 95.4 14.5 172.0 112.1
Income Tax Expense (Credit) 0.7 4.0 13.1 33.2
Net Income (Loss) 94.7 10.5 158.9 78.9
Ohio Power Co [Member]        
Revenues        
Transmission and Distribution Utilities 735.9 653.4 1,522.2 1,391.8
Sales to AEP Affiliates 11.5 9.1 14.6 14.8
Other Revenues 1.4 1.4 2.9 3.4
TOTAL REVENUES 748.8 663.9 1,539.7 1,410.0
Expenses        
Purchased Electricity for Resale 162.9 156.4 368.4 344.7
Purchased Electricity from AEP Affiliates 27.9 24.7 58.1 56.7
Amortization of Generation Deferrals 56.4 53.3 115.0 114.2
Other Operation 199.0 131.7 371.2 254.0
Maintenance 34.1 33.3 71.3 70.5
Depreciation and Amortization 65.1 51.1 129.9 108.4
Taxes Other Than Income Taxes 99.0 94.9 204.1 193.4
TOTAL EXPENSES 644.4 545.4 1,318.0 1,141.9
OPERATING INCOME (LOSS) 104.4 118.5 221.7 268.1
Other Income (Expense):        
Interest Income 0.9 0.8 1.8 3.3
Carrying Costs Income 0.6 0.6 1.3 2.5
Allowance for Equity Funds Used During Construction 3.3 0.8 5.8 3.2
Non-Service Cost Components of Net Periodic Benefit Cost 3.9 1.1 7.8 2.2
Interest Expense (25.3) (26.1) (50.5) (51.1)
INCOME BEFORE INCOME TAX EXPENSE AND EQUITY EARNINGS 87.8 95.7 187.9 228.2
Income Tax Expense (Credit) 19.0 33.4 39.5 79.7
Net Income (Loss) 68.8 62.3 148.4 148.5
Public Service Co Of Oklahoma [Member]        
Revenues        
Vertically Integrated Utilities 395.3 342.6 730.4 644.5
Sales to AEP Affiliates 1.5 1.0 2.6 2.1
Other Revenues 1.5 1.1 2.1 2.2
TOTAL REVENUES 398.3 344.7 735.1 648.8
Expenses        
Fuel and Other Consumables Used for Electric Generation 58.7 25.6 107.1 37.9
Purchased Electricity for Resale 113.1 126.7 235.5 252.0
Other Operation 93.7 76.1 180.5 144.4
Maintenance 24.0 28.8 50.9 63.0
Depreciation and Amortization 41.4 32.6 78.2 66.1
Taxes Other Than Income Taxes 10.2 9.6 21.8 20.2
TOTAL EXPENSES 341.1 299.4 674.0 583.6
OPERATING INCOME (LOSS) 57.2 45.3 61.1 65.2
Other Income (Expense):        
Allowance for Equity Funds Used During Construction     (0.1) 0.4
Other Income (0.1) 0.0 (0.1) 0.5
Non-Service Cost Components of Net Periodic Benefit Cost 2.2 0.8 4.4 1.7
Interest Expense (16.3) (13.4) (31.0) (27.0)
INCOME BEFORE INCOME TAX EXPENSE AND EQUITY EARNINGS 43.0 32.7 34.4 40.4
Income Tax Expense (Credit) 6.4 12.3 5.0 15.2
Net Income (Loss) 36.6 20.4 29.4 25.2
Southwestern Electric Power Co [Member]        
Revenues        
Vertically Integrated Utilities 451.4 416.0 864.4 812.3
Sales to AEP Affiliates 5.4 8.1 11.5 12.7
Other Revenues 0.3 0.6 0.6 1.0
TOTAL REVENUES 457.1 424.7 876.5 826.0
Expenses        
Fuel and Other Consumables Used for Electric Generation 114.5 111.4 241.3 242.3
Purchased Electricity for Resale 53.4 46.3 96.1 78.7
Other Operation 98.0 74.8 192.9 153.7
Maintenance 37.6 41.7 68.6 73.9
Depreciation and Amortization 58.6 52.1 116.0 102.9
Taxes Other Than Income Taxes 24.5 24.3 49.5 47.6
TOTAL EXPENSES 386.6 350.6 764.4 699.1
OPERATING INCOME (LOSS) 70.5 74.1 112.1 126.9
Other Income (Expense):        
Interest Income 0.6 0.4 2.4 1.3
Allowance for Equity Funds Used During Construction 0.9 0.0 3.2 0.8
Non-Service Cost Components of Net Periodic Benefit Cost 2.3 0.9 4.6 1.8
Interest Expense (30.9) (30.9) (63.1) (60.8)
INCOME BEFORE INCOME TAX EXPENSE AND EQUITY EARNINGS 43.4 44.5 59.2 70.0
Income Tax Expense (Credit) 5.4 13.2 8.3 22.7
Equity Earnings (Loss) of Unconsolidated Subsidiaries 0.7 (6.2) 1.2 (4.9)
Net Income (Loss) 38.7 25.1 52.1 42.4
Net Income Attributable to Noncontrolling Interests 1.1 0.6 2.7 1.6
Earnings Attributable to Common Shareholders $ 37.6 $ 24.5 $ 49.4 $ 40.8