XML 51 R6.htm IDEA: XBRL DOCUMENT v3.20.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Operating Activities    
Net Income (Loss) $ 1,762.0 $ 1,767.1
Adjustments to Reconcile Net Income to Net Cash Flows from (Used for) Operating Activities:    
Depreciation and Amortization 1,996.3 1,873.6
Deferred Income Taxes 142.5 15.9
Allowance for Equity Funds Used During Construction (111.7) (122.3)
Mark-to-Market of Risk Management Contracts 46.4 (41.6)
Amortization of Nuclear Fuel 67.2 71.6
Pension Contributions to Qualified Plan Trust (110.3) 0.0
Property Taxes 396.9 341.7
Deferred Fuel Over/Under-Recovery, Net 27.4 93.7
Recovery of Ohio Capacity Costs, Net 0.0 34.1
Refund of Global Settlement 0.0 (12.4)
Change in Other Noncurrent Assets (219.6) (9.6)
Change in Other Noncurrent Liabilities (25.1) (16.3)
Changes in Certain Components of Working Capital:    
Accounts Receivable, Net (138.9) 125.0
Fuel, Materials and Supplies (97.4) (116.6)
Accounts Payable 21.9 (32.4)
Accrued Taxes, Net (502.9) (359.9)
Other Current Assets 26.0 60.2
Other Current Liabilities (358.5) (321.9)
Net Cash Flows from (Used for) Operating Activities 2,922.2 3,349.9
Investing Activities    
Construction Expenditures (4,690.4) (4,336.0)
Purchases of Investment Securities (1,329.5) (951.5)
Sales of Investment Securities 1,293.0 874.2
Acquisitions of Nuclear Fuel (68.4) (91.9)
Acquisitions of Assets 0.0 (921.3)
Other Investing Activities 88.0 68.9
Net Cash Flows from (Used for) Investing Activities (4,707.3) (5,357.6)
Financing Activities    
Issuance of Common Stock 136.5 44.7
Issuance of Long-term Debt 3,985.8 3,492.4
Issuance of Short-term Debt with Original Maturities greater than 90 Days 1,304.5 0.0
Change in Short-term Debt, Net (1,445.8) 600.0
Retirement of Long-term Debt (700.5) (1,023.5)
Make Whole Premium on Extinguishment of Long-term Debt 0.0 (5.0)
Redemption of Short-term Debt with Original Maturities Greater than 90 Days (300.0) 0.0
Principal Payments for Finance Leases Obligations (46.3) (44.5)
Dividends Paid on Common Stock (1,055.7) (1,002.0)
Redemption of Noncontrolling Interest in Trent & Desert Sky Windfarms (56.5) 0.0
Other Financing Activities (5.7) (8.7)
Net Cash Flows from (Used for) Financing Activities 1,816.3 2,053.4
Net Increase (Decrease) in Cash, Cash Equivalents and Restricted Cash 31.2 45.7
Cash, Cash Equivalents and Restricted Cash at Beginning of Period 432.6 444.1
Cash and Cash Equivalents at Beginning of Period 246.8  
Cash, Cash Equivalents and Restricted Cash at End of Period 463.8 489.8
Cash and Cash Equivalents at End of Period 409.7  
Supplementary Information    
Cash Paid for Interest, Net of Capitalized Amounts 690.5 689.7
Net Cash Paid (Received) for Income Taxes (23.9) 22.8
Noncash Acquisitions Under Finance Leases 33.0 66.7
Construction Expenditures Included in Current Liabilities as of September 30, 830.1 1,018.9
Construction Expenditures Included in Noncurrent Liabilities as of September 30, 8.3 0.0
Acquisition of Nuclear Fuel Included in Current Liabilities as of September 30, 1.0 0.0
Expected Reimbursement for Spent Nuclear Fuel Dry Cask Storage 2.4 0.0
Liabilities assumed with Sempra Renewable LLC and Santa Rita East Acquisition 0.0 32.4
AEP Texas Inc. [Member]    
Operating Activities    
Net Income (Loss) 197.1 192.0
Adjustments to Reconcile Net Income to Net Cash Flows from (Used for) Operating Activities:    
Depreciation and Amortization 435.8 464.8
Deferred Income Taxes (11.5) (0.6)
Allowance for Equity Funds Used During Construction (14.4) (8.3)
Mark-to-Market of Risk Management Contracts 0.1 0.2
Pension Contributions to Qualified Plan Trust (11.3) 0.0
Change in Other Noncurrent Assets (77.3) 0.5
Change in Other Noncurrent Liabilities (30.0) 6.5
Changes in Certain Components of Working Capital:    
Accounts Receivable, Net (40.2) (50.0)
Fuel, Materials and Supplies (9.4) (0.1)
Accounts Payable 24.2 17.8
Accrued Taxes, Net 73.4 (33.4)
Other Current Assets (0.8) (0.7)
Other Current Liabilities (49.8) (12.9)
Net Cash Flows from (Used for) Operating Activities 485.9 575.8
Investing Activities    
Construction Expenditures (976.1) (954.5)
Change in Advances to Affiliates, Net 58.8 0.3
Other Investing Activities 24.1 18.4
Net Cash Flows from (Used for) Investing Activities (893.2) (935.8)
Financing Activities    
Capital Contributions from Parent 0.0 200.0
Issuance of Long-term Debt 652.8 627.5
Change in Short-term Debt, Net 2.0 0.0
Change in Advances from Affiliates, Net 0.0 (141.2)
Retirement of Long-term Debt (356.5) (366.8)
Principal Payments for Finance Leases Obligations (4.7) (3.8)
Other Financing Activities 0.8 (1.1)
Net Cash Flows from (Used for) Financing Activities 294.4 314.6
Net Increase (Decrease) in Cash, Cash Equivalents and Restricted Cash (112.9) (45.4)
Cash, Cash Equivalents and Restricted Cash at Beginning of Period 157.8 159.8
Cash and Cash Equivalents at Beginning of Period 3.1  
Cash, Cash Equivalents and Restricted Cash at End of Period 44.9 114.4
Cash and Cash Equivalents at End of Period 0.1  
Supplementary Information    
Cash Paid for Interest, Net of Capitalized Amounts 102.0 95.1
Net Cash Paid (Received) for Income Taxes (55.6) 28.7
Noncash Acquisitions Under Finance Leases 5.1 6.9
Construction Expenditures Included in Current Liabilities as of September 30, 167.6 183.6
AEP Transmission Co [Member]    
Operating Activities    
Net Income (Loss) 309.1 347.9
Adjustments to Reconcile Net Income to Net Cash Flows from (Used for) Operating Activities:    
Depreciation and Amortization 176.4 128.4
Deferred Income Taxes 65.4 36.7
Allowance for Equity Funds Used During Construction (54.9) (61.1)
Property Taxes 136.3 110.7
Change in Other Noncurrent Assets (1.5) 1.0
Change in Other Noncurrent Liabilities 19.5 (3.8)
Changes in Certain Components of Working Capital:    
Accounts Receivable, Net (30.1) (5.1)
Fuel, Materials and Supplies 0.2 3.9
Accounts Payable 26.0 4.1
Accrued Taxes, Net (139.0) (92.8)
Accrued Interest 29.0 23.8
Other Current Assets 9.1 (1.0)
Other Current Liabilities (10.7) (8.5)
Net Cash Flows from (Used for) Operating Activities 534.8 484.2
Investing Activities    
Construction Expenditures (1,163.8) (959.9)
Change in Advances to Affiliates, Net (21.3) (178.3)
Acquisitions of Assets (3.6) (7.6)
Other Investing Activities 4.7 12.0
Net Cash Flows from (Used for) Investing Activities (1,184.0) (1,133.8)
Financing Activities    
Capital Contributions from Parent 185.0 0.0
Issuance of Long-term Debt 519.4 685.9
Change in Advances from Affiliates, Net (50.2) (36.3)
Dividends Paid on Common Stock (5.0) 0.0
Net Cash Flows from (Used for) Financing Activities 649.2 649.6
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 63.3 43.0
Net Cash Paid (Received) for Income Taxes 1.9 29.8
Construction Expenditures Included in Current Liabilities as of September 30, 283.6 315.1
Appalachian Power Co [Member]    
Operating Activities    
Net Income (Loss) 313.2 293.5
Adjustments to Reconcile Net Income to Net Cash Flows from (Used for) Operating Activities:    
Depreciation and Amortization 366.0 348.3
Deferred Income Taxes (28.2) (101.9)
Allowance for Equity Funds Used During Construction (11.5) (12.5)
Mark-to-Market of Risk Management Contracts 8.0 2.2
Pension Contributions to Qualified Plan Trust (7.0) 0.0
Deferred Fuel Over/Under-Recovery, Net 38.8 60.8
Change in Other Noncurrent Assets 5.4 6.7
Change in Other Noncurrent Liabilities (26.0) (29.6)
Changes in Certain Components of Working Capital:    
Accounts Receivable, Net 7.2 61.7
Fuel, Materials and Supplies 12.4 (49.2)
Accounts Payable (74.0) 40.1
Accrued Taxes, Net 1.9 (30.2)
Other Current Assets 10.1 6.8
Other Current Liabilities (9.7) (25.1)
Net Cash Flows from (Used for) Operating Activities 606.6 571.6
Investing Activities    
Construction Expenditures (566.6) (607.1)
Change in Advances to Affiliates, Net (137.4) 0.3
Other Investing Activities 4.6 22.8
Net Cash Flows from (Used for) Investing Activities (699.4) (584.0)
Financing Activities    
Issuance of Long-term Debt 557.2 478.2
Change in Advances from Affiliates, Net (232.4) (165.2)
Retirement of Long-term Debt (90.3) (180.4)
Principal Payments for Finance Leases Obligations (5.6) (5.0)
Dividends Paid on Common Stock (150.0) (125.0)
Other Financing Activities 0.3 0.6
Net Cash Flows from (Used for) Financing Activities 79.2 3.2
Net Increase (Decrease) in Cash, Cash Equivalents and Restricted Cash (13.6) (9.2)
Cash, Cash Equivalents and Restricted Cash at Beginning of Period 26.8 29.8
Cash and Cash Equivalents at Beginning of Period 3.3  
Cash, Cash Equivalents and Restricted Cash at End of Period 13.2 20.6
Cash and Cash Equivalents at End of Period 3.9  
Supplementary Information    
Cash Paid for Interest, Net of Capitalized Amounts 130.0 120.6
Net Cash Paid (Received) for Income Taxes (10.7) 58.7
Noncash Acquisitions Under Finance Leases 3.0 7.1
Construction Expenditures Included in Current Liabilities as of September 30, 90.0 134.2
Indiana Michigan Power Co [Member]    
Operating Activities    
Net Income (Loss) 232.8 248.0
Adjustments to Reconcile Net Income to Net Cash Flows from (Used for) Operating Activities:    
Depreciation and Amortization 303.6 261.6
Rockport Plant, Unit 2 Operating Lease Amortization 51.9 58.9
Deferred Income Taxes (6.1) (29.9)
Deferral of Incremental Nuclear Refueling Outage Expenses, Net 21.3 (11.6)
Allowance for Equity Funds Used During Construction (8.8) (16.4)
Mark-to-Market of Risk Management Contracts 5.6 (1.6)
Amortization of Nuclear Fuel 67.2 71.6
Pension Contributions to Qualified Plan Trust (6.4) 0.0
Deferred Fuel Over/Under-Recovery, Net 23.4 (20.0)
Change in Other Noncurrent Assets 40.8 46.0
Change in Other Noncurrent Liabilities 30.2 13.8
Changes in Certain Components of Working Capital:    
Accounts Receivable, Net 32.2 50.5
Fuel, Materials and Supplies (15.4) (4.6)
Accounts Payable (0.9) (7.3)
Accrued Taxes, Net (84.4) (49.4)
Operating Lease, Payments (36.9) (36.9)
Other Current Assets 6.6 7.8
Other Current Liabilities (59.1) (49.7)
Net Cash Flows from (Used for) Operating Activities 597.6 530.8
Investing Activities    
Construction Expenditures (409.1) (431.7)
Change in Advances to Affiliates, Net (0.1) (0.5)
Purchases of Investment Securities (1,290.0) (915.7)
Sales of Investment Securities 1,257.1 871.4
Acquisitions of Nuclear Fuel (68.4) (91.9)
Other Investing Activities 8.3 10.5
Net Cash Flows from (Used for) Investing Activities (502.2) (557.9)
Financing Activities    
Issuance of Long-term Debt 0.0 62.9
Change in Advances from Affiliates, Net 44.7 101.3
Retirement of Long-term Debt (71.1) (73.6)
Principal Payments for Finance Leases Obligations (4.8) (4.0)
Dividends Paid on Common Stock (63.7) (60.0)
Other Financing Activities 0.3 0.6
Net Cash Flows from (Used for) Financing Activities (94.6) 27.2
Net Increase (Decrease) in Cash and Cash Equivalents 0.8 0.1
Cash and Cash Equivalents at Beginning of Period 2.0 2.4
Cash and Cash Equivalents at End of Period 2.8 2.5
Supplementary Information    
Cash Paid for Interest, Net of Capitalized Amounts 97.5 98.7
Net Cash Paid (Received) for Income Taxes 59.7 40.2
Noncash Acquisitions Under Finance Leases 1.9 8.1
Construction Expenditures Included in Current Liabilities as of September 30, 57.6 76.3
Acquisition of Nuclear Fuel Included in Current Liabilities as of September 30, 1.0 0.0
Expected Reimbursement for Spent Nuclear Fuel Dry Cask Storage 2.4 0.0
Ohio Power Co [Member]    
Operating Activities    
Net Income (Loss) 215.0 247.7
Adjustments to Reconcile Net Income to Net Cash Flows from (Used for) Operating Activities:    
Depreciation and Amortization 204.4 176.8
Amortization Of Generation Deferrals 0.0 65.3
Deferred Income Taxes 35.6 16.8
Carrying Costs Income (1.3) (0.7)
Allowance for Equity Funds Used During Construction (9.3) (14.1)
Mark-to-Market of Risk Management Contracts 9.7 13.3
Pension Contributions to Qualified Plan Trust (0.1)  
Property Taxes 225.1 197.7
Refund of Global Settlement 0.0 (12.4)
Reversal of a Regulatory Provision 0.0 (56.2)
Change in Other Noncurrent Assets (93.8) (47.5)
Change in Other Noncurrent Liabilities (58.3) (51.1)
Changes in Certain Components of Working Capital:    
Accounts Receivable, Net 33.4 90.0
Fuel, Materials and Supplies (19.8) (9.6)
Accounts Payable (19.9) (12.3)
Accrued Taxes, Net (266.2) (245.9)
Other Current Assets (2.5) (9.0)
Other Current Liabilities (23.3) (40.0)
Net Cash Flows from (Used for) Operating Activities 230.1 309.5
Investing Activities    
Construction Expenditures (604.6) (570.6)
Other Investing Activities 14.1 20.0
Net Cash Flows from (Used for) Investing Activities (590.5) (550.6)
Financing Activities    
Issuance of Long-term Debt 347.0 444.3
Change in Advances from Affiliates, Net 84.9 (96.5)
Retirement of Long-term Debt (0.1) (48.0)
Principal Payments for Finance Leases Obligations (3.5) (2.6)
Dividends Paid on Common Stock (65.6) (85.0)
Other Financing Activities 0.6 1.1
Net Cash Flows from (Used for) Financing Activities 363.3 213.3
Net Increase (Decrease) in Cash, Cash Equivalents and Restricted Cash 2.9 (27.8)
Cash, Cash Equivalents and Restricted Cash at Beginning of Period 3.7 32.5
Cash and Cash Equivalents at Beginning of Period 3.7  
Cash, Cash Equivalents and Restricted Cash at End of Period 6.6 4.7
Cash and Cash Equivalents at End of Period 6.6  
Supplementary Information    
Cash Paid for Interest, Net of Capitalized Amounts 69.7 61.3
Net Cash Paid (Received) for Income Taxes (6.0) 25.7
Noncash Acquisitions Under Finance Leases 5.2 8.6
Construction Expenditures Included in Current Liabilities as of September 30, 75.9 99.9
Public Service Co Of Oklahoma [Member]    
Operating Activities    
Net Income (Loss) 116.4 148.4
Adjustments to Reconcile Net Income to Net Cash Flows from (Used for) Operating Activities:    
Depreciation and Amortization 129.8 125.4
Deferred Income Taxes (3.2) (9.7)
Allowance for Equity Funds Used During Construction (3.2) (1.5)
Mark-to-Market of Risk Management Contracts (0.3) (12.0)
Property Taxes (10.6) (9.6)
Deferred Fuel Over/Under-Recovery, Net (46.6) 49.8
Change in Other Noncurrent Assets (7.2) 4.6
Change in Other Noncurrent Liabilities 6.1 (0.2)
Changes in Certain Components of Working Capital:    
Accounts Receivable, Net (5.6) 9.1
Fuel, Materials and Supplies (17.2) (1.9)
Accounts Payable (26.1) (5.8)
Accrued Taxes, Net 36.9 19.0
Other Current Assets (0.1) (2.4)
Other Current Liabilities (16.4) 1.1
Net Cash Flows from (Used for) Operating Activities 152.7 314.3
Investing Activities    
Construction Expenditures (256.4) (198.7)
Change in Advances to Affiliates, Net 38.8 (95.1)
Other Investing Activities 3.9 2.1
Net Cash Flows from (Used for) Investing Activities (213.7) (291.7)
Financing Activities    
Issuance of Long-term Debt 0.0 349.8
Change in Advances from Affiliates, Net 77.8 (105.5)
Retirement of Long-term Debt (13.0) (250.4)
Principal Payments for Finance Leases Obligations (2.7) (2.2)
Dividends Paid on Common Stock 0.0 (11.3)
Other Financing Activities 0.4 (2.1)
Net Cash Flows from (Used for) Financing Activities 62.5 (21.7)
Net Increase (Decrease) in Cash and Cash Equivalents 1.5 0.9
Cash and Cash Equivalents at Beginning of Period 1.5 2.0
Cash and Cash Equivalents at End of Period 3.0 2.9
Supplementary Information    
Cash Paid for Interest, Net of Capitalized Amounts 45.5 46.5
Net Cash Paid (Received) for Income Taxes (9.5) 16.0
Noncash Acquisitions Under Finance Leases 3.0 3.4
Construction Expenditures Included in Current Liabilities as of September 30, 23.5 31.5
Southwestern Electric Power Co [Member]    
Operating Activities    
Net Income (Loss) 163.9 147.6
Adjustments to Reconcile Net Income to Net Cash Flows from (Used for) Operating Activities:    
Depreciation and Amortization 203.9 187.1
Deferred Income Taxes (0.3) (15.9)
Allowance for Equity Funds Used During Construction (5.7) (4.5)
Mark-to-Market of Risk Management Contracts (2.3) (2.5)
Pension Contributions to Qualified Plan Trust (8.9) 0.0
Property Taxes (16.5) (16.1)
Deferred Fuel Over/Under-Recovery, Net 16.3 14.1
Change in Regulatory Assets (64.5) 5.7
Provision for Refund (2.0) (25.3)
Change in Other Noncurrent Assets 3.2 (2.2)
Change in Other Noncurrent Liabilities 21.0 5.8
Changes in Certain Components of Working Capital:    
Accounts Receivable, Net 8.0 (17.2)
Fuel, Materials and Supplies (70.9) (17.7)
Accounts Payable 88.0 (12.8)
Accrued Taxes, Net 46.6 54.1
Other Current Assets 1.3 (4.5)
Other Current Liabilities (50.3) (13.9)
Net Cash Flows from (Used for) Operating Activities 332.8 307.1
Investing Activities    
Construction Expenditures (319.5) (277.3)
Change in Advances to Affiliates, Net 0.0 74.9
Other Investing Activities 4.8 (1.2)
Net Cash Flows from (Used for) Investing Activities (314.7) (203.6)
Financing Activities    
Change in Short-term Debt, Net 23.7 0.0
Change in Advances from Affiliates, Net 11.9 0.0
Retirement of Long-term Debt (19.7) (58.2)
Principal Payments for Finance Leases Obligations (8.0) (8.1)
Dividends Paid on Common Stock 0.0 (37.5)
Dividends Paid on Common Stock (2.3) (3.3)
Other Financing Activities 0.3 0.5
Net Cash Flows from (Used for) Financing Activities 5.9 (106.6)
Net Increase (Decrease) in Cash and Cash Equivalents 24.0 (3.1)
Cash and Cash Equivalents at Beginning of Period 1.6 24.5
Cash and Cash Equivalents at End of Period 25.6 21.4
Supplementary Information    
Cash Paid for Interest, Net of Capitalized Amounts 95.2 95.1
Net Cash Paid (Received) for Income Taxes 11.9 7.3
Noncash Acquisitions Under Finance Leases 5.9 4.7
Construction Expenditures Included in Current Liabilities as of September 30, 50.6 52.0
Noncontrolling Interest [Member]    
Supplementary Information    
Noncontrolling Interest assumed with Sempra Renewable LLC and Santa Rita East Acquisition 0.0 253.4
Retained Earnings [Member]    
Supplementary Information    
Forward Equity Purchase Contract Included in Current and Noncurrent Liabilities as of September 30 $ 120.6 $ 52.4