XML 79 R34.htm IDEA: XBRL DOCUMENT v3.20.2
Income Taxes (Tables)
 9 Months Ended
Sep. 30, 2020
Schedule of Effective Income Tax Rate Reconciliation
Three Months Ended September 30, 2020
AEPAEP TexasAEPTCoAPCoI&MOPCoPSOSWEPCo
U.S. Federal Statutory Rate21.0 %21.0 %21.0 %21.0 %21.0 %21.0 %21.0 %21.0 %
Increase (decrease) due to:
State Income Tax, net of Federal Benefit
2.7 %2.0 %2.9 %3.1 %3.4 %0.8 %4.6 %2.4 %
Tax Reform Excess ADIT Reversal
(11.0)%(14.6)%0.4 %(22.0)%(16.7)%(6.7)%(20.3)%(7.3)%
Production and Investment Tax Credits
(4.6)%(0.5)%— %— %(1.6)%— %(1.1)%(0.5)%
Flow Through
0.5 %0.2 %0.5 %1.6 %0.2 %0.9 %0.2 %(1.2)%
AFUDC Equity
(1.5)%(3.5)%(2.6)%(1.1)%(0.9)%(0.9)%(0.6)%(0.3)%
Parent Company Loss Benefit
— %— %(0.9)%(3.1)%(3.7)%(0.3)%(1.7)%(2.0)%
Discrete Tax Adjustments
(7.4)%(3.6)%(0.2)%(6.6)%2.3 %8.4 %(0.6)%(0.6)%
Other
0.1 %0.3 %0.1 %— %— %0.3 %0.1 %(0.6)%
Effective Income Tax Rate(0.2)%1.3 %21.2 %(7.1)%4.0 %23.5 %1.6 %10.9 %
Three Months Ended September 30, 2019
AEPAEP TexasAEPTCoAPCoI&MOPCoPSOSWEPCo
U.S. Federal Statutory Rate21.0 %21.0 %21.0 %21.0 %21.0 %21.0 %21.0 %21.0 %
Increase (decrease) due to:
State Income Tax, net of Federal Benefit
2.6 %1.4 %3.1 %3.0 %(0.1)%0.4 %4.8 %2.4 %
Tax Reform Excess ADIT Reversal
(11.9)%(6.1)%1.4 %(26.6)%(17.3)%(6.9)%(16.5)%(19.5)%
Production and Investment Tax Credits
(3.7)%(0.2)%— %— %(2.0)%— %(1.4)%(0.9)%
Flow Through
0.4 %— %0.1 %3.8 %(0.7)%1.0 %0.7 %(0.5)%
AFUDC Equity
(1.5)%(1.1)%(2.6)%(1.3)%(1.7)%(1.7)%(0.3)%(0.9)%
Parent Company Loss Benefit
— %(0.1)%(1.3)%(1.1)%(1.0)%0.4 %(1.8)%(1.8)%
Discrete Tax Adjustments
(1.7)%— %(0.1)%(2.4)%(1.3)%1.7 %— %— %
Other
— %0.2 %0.3 %(0.3)%0.4 %(2.0)%(0.1)%(0.4)%
Effective Income Tax Rate5.2 %15.1 %21.9 %(3.9)%(2.7)%13.9 %6.4 %(0.6)%
Nine Months Ended September 30, 2020
AEPAEP TexasAEPTCoAPCoI&MOPCoPSOSWEPCo
U.S. Federal Statutory Rate21.0 %21.0 %21.0 %21.0 %21.0 %21.0 %21.0 %21.0 %
Increase (decrease) due to:
State Income Tax, net of Federal Benefit
2.6 %1.8 %2.9 %3.1 %3.4 %0.7 %4.6 %2.3 %
Tax Reform Excess ADIT Reversal
(12.1)%(23.4)%0.4 %(20.8)%(16.7)%(8.8)%(20.3)%(11.5)%
Production and Investment Tax Credits
(4.5)%(0.5)%— %— %(1.6)%— %(1.1)%(0.5)%
Flow Through
0.5 %0.1 %0.5 %1.6 %0.2 %0.9 %0.2 %(1.2)%
AFUDC Equity
(1.5)%(3.2)%(2.6)%(1.1)%(0.9)%(0.9)%(0.6)%(0.3)%
Parent Company Loss Benefit
— %— %(0.9)%(3.1)%(3.7)%(0.3)%(1.7)%(1.9)%
Discrete Tax Adjustments
(3.0)%(1.6)%(0.1)%(2.3)%1.8 %2.6 %(0.4)%(0.3)%
Other
0.2 %0.4 %(0.1)%(0.1)%(0.1)%0.2 %0.1 %(0.4)%
Effective Income Tax Rate3.2 %(5.4)%21.1 %(1.7)%3.4 %15.4 %1.8 %7.2 %
Nine Months Ended September 30, 2019
AEPAEP TexasAEPTCoAPCoI&MOPCoPSOSWEPCo
U.S. Federal Statutory Rate21.0 %21.0 %21.0 %21.0 %21.0 %21.0 %21.0 %21.0 %
Increase (decrease) due to:
State Income Tax, net of Federal Benefit
2.1 %1.5 %3.0 %3.3 %1.2 %0.7 %4.7 %1.8 %
Tax Reform Excess ADIT Reversal
(16.7)%(43.9)%0.7 %(40.2)%(17.3)%(7.4)%(18.2)%(18.7)%
Production and Investment Tax Credits
(3.6)%(0.5)%— %— %(2.0)%— %(1.5)%(0.8)%
Flow Through
0.1 %0.1 %0.2 %0.7 %(1.8)%0.7 %0.6 %(0.6)%
AFUDC Equity
(1.5)%(1.3)%(2.5)%(1.1)%(1.9)%(1.0)%(0.3)%(0.9)%
Parent Company Loss Benefit
— %(1.0)%(1.1)%(1.9)%(1.5)%(0.7)%(1.8)%(1.5)%
Discrete Tax Adjustments
— %(1.3)%(0.6)%(0.8)%0.2 %0.5 %— %(0.2)%
Other
0.3 %0.1 %— %(0.1)%— %0.4 %0.1 %(0.1)%
Effective Income Tax Rate1.7 %(25.3)%20.7 %(19.1)%(2.1)%14.2 %4.6 %— %