Property, Plant and Equipment (Tables)

12 Months Ended

Dec. 31, 2022

Property, Plant and Equipment

December 31, 2022	AEP			AEP Texas		AEPTCo			APCo		I&M		OPCo		PSO		SWEPCo
	(in millions)
Regulated Property, Plant and Equipment
Generation	$	22,523.1	(a)	$	—	$	—		$	6,776.8	$	5,534.6	$	—	$	2,394.8	$	5,476.2	(a)
Transmission	32,267.8			6,301.5		12,183.2			4,482.8		1,842.2		3,198.6		1,164.4		2,479.8
Distribution	26,077.2			5,312.8		—			4,933.0		3,024.7		6,450.3		3,216.4		2,659.6
Other	5,700.4			1,020.4		451.7			849.2		796.1		1,040.6		466.0		582.6
CWIP	4,630.8		(a)	805.2		1,547.1			705.3		253.0		474.3		219.3		369.5		(a)
Less: Accumulated Depreciation	21,947.1			1,759.5		1,012.2			5,397.3		4,117.8		2,564.3		1,839.4		3,314.8
Total Regulated Property, Plant and Equipment - Net	69,252.2			11,680.4		13,169.8			12,349.8		7,332.8		8,599.5		5,621.5		8,252.9
Nonregulated Property, Plant and Equipment - Net	2,030.7			1.2		0.3			29.4		78.7		9.8		5.0		9.3
Total Property, Plant and Equipment - Net	$	71,282.9	(b)	$	11,681.6	$	13,170.1	(c)	$	12,379.2	$	7,411.5	$	8,609.3	$	5,626.5	$	8,262.2

December 31, 2021	AEP			AEP Texas		AEPTCo			APCo		I&M		OPCo		PSO		SWEPCo
	(in millions)
Regulated Property, Plant and Equipment
Generation	$	21,196.8	(a)	$	—	$	—		$	6,683.9	$	5,531.8	$	—	$	1,802.4	$	4,734.5	(a)
Transmission	29,866.0			5,849.9		10,886.3			4,322.4		1,783.1		2,992.8		1,107.7		2,316.9
Distribution	24,440.0			4,917.2		—			4,683.3		2,800.1		6,070.6		3,004.9		2,514.3
Other	5,249.8			958.7		427.2			668.9		755.1		982.2		433.5		542.0
CWIP	3,632.4		(a)	551.3		1,394.8			469.9		302.8		365.0		156.0		240.7		(a)
Less: Accumulated Depreciation	20,375.5			1,642.9		772.9			5,047.4		3,885.3		2,457.4		1,707.0		3,002.2
Total Regulated Property, Plant and Equipment - Net	64,009.5			10,634.2		11,935.4			11,781.0		7,287.6		7,953.2		4,797.5		7,346.2
Nonregulated Property, Plant and Equipment - Net	1,991.8			1.2		0.3			23.3		23.3		9.8		5.3		53.9
Total Property, Plant and Equipment - Net	$	66,001.3	(b)	$	10,635.4	$	11,935.7	(c)	$	11,804.3	$	7,310.9	$	7,963.0	$	4,802.8	$	7,400.1

(a)AEP and SWEPCo’s regulated generation and regulated CWIP include amounts related to SWEPCo’s Arkansas jurisdictional share of the Turk Plant.

(b)Amount excludes $2.4 billion and $2.3 billion as of December 31, 2022 and 2021, respectively, of Property, Plant and Equipment - Net classified as Assets Held for Sale on the balance sheet. See “Disposition of KPCo and KTCo” section of Note 7 for additional information.

(c)Amount excludes $170 million and $165 million as of December 31, 2022 and 2021, respectively, of Property, Plant and Equipment - Net classified as Assets Held for Sale on the balance sheet. See “Disposition of KPCo and KTCo” section of Note 7 for additional information.

Depreciation, Depletion and Amortization - Regulated

AEP
	2022						2021						2020
Functional Class of Property	Annual Composite Depreciation Rate Ranges			Depreciable Life Ranges			Annual Composite Depreciation Rate Ranges			Depreciable Life Ranges			Annual Composite Depreciation Rate Ranges			Depreciable Life Ranges
				(in years)						(in years)						(in years)
Generation	2.7%	-	7.6%	20	-	132	2.7%	-	7.8%	20	-	132	2.7%	-	6.3%	20	-	132
Transmission	2.0%	-	2.7%	24	-	75	2.0%	-	2.6%	15	-	75	2.0%	-	2.6%	15	-	75
Distribution	2.7%	-	3.6%	7	-	78	2.8%	-	3.6%	7	-	80	2.7%	-	3.7%	7	-	78
Other	3.1%	-	14.4%	5	-	75	3.0%	-	12.5%	5	-	75	2.8%	-	11.3%	5	-	75

AEP Texas
	2022				2021				2020
Functional Class of Property	Annual Composite Depreciation Rate	Depreciable Life Ranges			Annual Composite Depreciation Rate	Depreciable Life Ranges			Annual Composite Depreciation Rate	Depreciable Life Ranges
		(in years)				(in years)				(in years)
Transmission	2.2%	50	-	75	2.2%	50	-	75	2.0%	50	-	75
Distribution	2.9%	7	-	70	2.9%	7	-	70	3.1%	7	-	70
Other	6.2%	5	-	50	5.8%	5	-	50	6.1%	5	-	50

AEPTCo
	2022				2021				2020
Functional Class of Property	Annual Composite Depreciation Rate	Depreciable Life Ranges			Annual Composite Depreciation Rate	Depreciable Life Ranges			Annual Composite Depreciation Rate	Depreciable Life Ranges
		(in years)				(in years)				(in years)
Transmission	2.6%	24	-	75	2.5%	24	-	75	2.4%	24	-	75
Other	6.6%	5	-	56	6.7%	5	-	56	6.3%	5	-	64

APCo
	2022				2021				2020
Functional Class of Property	Annual Composite Depreciation Rate	Depreciable Life Ranges			Annual Composite Depreciation Rate	Depreciable Life Ranges			Annual Composite Depreciation Rate	Depreciable Life Ranges
		(in years)				(in years)				(in years)
Generation	3.6%	35	-	118	3.6%	35	-	118	3.3%	35	-	118
Transmission	2.2%	24	-	75	2.1%	15	-	75	2.2%	15	-	75
Distribution	3.6%	12	-	57	3.5%	12	-	57	3.7%	12	-	57
Other	7.3%	5	-	55	8.5%	5	-	55	7.8%	5	-	55

I&M
	2022				2021				2020
Functional Class of Property	Annual Composite Depreciation Rate	Depreciable Life Ranges			Annual Composite Depreciation Rate	Depreciable Life Ranges			Annual Composite Depreciation Rate	Depreciable Life Ranges
		(in years)				(in years)				(in years)
Generation	4.9%	20	-	132	4.7%	20	-	132	4.6%	20	-	132
Transmission	2.5%	44	-	67	2.4%	45	-	70	2.3%	45	-	70
Distribution	3.1%	14	-	71	3.4%	14	-	71	3.4%	14	-	71
Other	10.1%	5	-	45	9.0%	5	-	51	10.2%	5	-	51

OPCo
	2022				2021				2020
Functional Class of Property	Annual Composite Depreciation Rate	Depreciable Life Ranges			Annual Composite Depreciation Rate	Depreciable Life Ranges			Annual Composite Depreciation Rate	Depreciable Life Ranges
		(in years)				(in years)				(in years)
Transmission	2.3%	39	-	60	2.3%	39	-	60	2.3%	39	-	60
Distribution	2.7%	11	-	70	2.9%	11	-	70	3.1%	14	-	65
Other	6.1%	5	-	50	6.1%	5	-	50	5.0%	5	-	50

PSO
	2022				2021				2020
Functional Class of Property	Annual Composite Depreciation Rate	Depreciable Life Ranges			Annual Composite Depreciation Rate	Depreciable Life Ranges			Annual Composite Depreciation Rate	Depreciable Life Ranges
		(in years)				(in years)				(in years)
Generation	3.1%	30	-	75	2.8%	30	-	75	3.1%	35	-	75
Transmission	2.5%	42	-	75	2.4%	42	-	75	2.2%	45	-	75
Distribution	2.9%	15	-	78	2.9%	15	-	78	2.9%	15	-	78
Other	6.8%	5	-	56	6.1%	5	-	56	5.7%	5	-	64

SWEPCo
	2022				2021				2020
Functional Class of Property	Annual Composite Depreciation Rate	Depreciable Life Ranges			Annual Composite Depreciation Rate	Depreciable Life Ranges			Annual Composite Depreciation Rate	Depreciable Life Ranges
		(in years)				(in years)				(in years)
Generation	2.7%	30	-	65	2.7%	30	-	65	2.7%	35	-	65
Transmission	2.3%	44	-	70	2.4%	49	-	74	2.3%	47	-	73
Distribution	2.9%	15	-	75	2.8%	15	-	80	2.7%	15	-	67
Other	9.0%	5	-	57	8.6%	5	-	58	8.5%	5	-	52

Depreciation, Depletion and Amortization - Unregulated

	2022							2021							2020
Functional Class of Property	Annual Composite Depreciation Rate Ranges			Depreciable Life Ranges				Annual Composite Depreciation Rate Ranges			Depreciable Life Ranges				Annual Composite Depreciation Rate Ranges			Depreciable Life Ranges
				(in years)							(in years)							(in years)
Generation	3.8%	-	8.7%	3	-	61		3.8%	-	10.4%	10	-	59		3.6%	-	4.0%	15	-	59
Transmission	2.8%			10	-	62		2.6%			30	-	40		2.5%			30	-	40
Distribution	NA			NA				NA			NA				NA			NA
Other	25.2%			5	-	35	(a)	16.5%			5	-	35	(a)	16.1%			5	-	50

(a)In 2020 management announced plans to retire the Pirkey Plant in 2023 and the related depreciable lives have been adjusted accordingly. See Note 5 - Effects of Regulation for additional information.

NA Not applicable.

Allowance For Equity Funds Used During Construction

	Years Ended December 31,
Company	2022		2021		2020
	(in millions)
AEP	$	133.7	$	139.7	$	148.1
AEP Texas	19.7		21.5		19.4
AEPTCo	70.7		67.2		74.0
APCo	11.7		15.6		14.6
I&M	9.8		12.8		11.5
OPCo	13.9		10.8		12.5
PSO	1.5		2.4		4.0
SWEPCo	4.9		7.0		7.7

Allowance For Borrowed Funds Used During Construction

	Years Ended December 31,
Company	2022		2021		2020
	(in millions)
AEP	$	63.0	$	53.8	$	66.0
AEP Texas	11.5		10.5		12.5
AEPTCo	22.4		21.0		25.5
APCo	6.5		7.5		7.9
I&M	5.7		5.1		5.7
OPCo	6.7		4.7		6.2
PSO	2.7		0.7		2.0
SWEPCo	4.3		3.0		3.9

Jointly-owned Electric Facilities

				Registrant’s Share as of December 31, 2022
	Fuel Type	Percent of Ownership		Utility Plant in Service		Construction Work in Progress		Accumulated Depreciation
				(in millions)
AEP
Flint Creek Generating Station, Unit 1 (a)	Coal	50.0	%	$	382.9	$	16.4	$	149.4
Pirkey Plant, Unit 1 (a)	Lignite	85.9	%	632.0		—		632.0
Turk Generating Plant (a)	Coal	73.3	%	1,611.1		5.1		314.7
Total				$	2,626.0	$	21.5	$	1,096.1
I&M
Rockport Generating Plant (b)(c)(d)	Coal	50.0	%	$	1,357.4	$	9.2	$	905.1
PSO
North Central Wind Energy Facilities (e)(f)	Wind	45.5	%	$	889.3	$	9.1	$	28.1
SWEPCo
Flint Creek Generating Station, Unit 1 (a)	Coal	50.0	%	$	382.9	$	16.4	$	149.4
Pirkey Plant, Unit 1 (a)	Lignite	85.9	%	632.0		—		632.0
Turk Generating Plant (a)	Coal	73.3	%	1,611.1		5.1		314.7
North Central Wind Energy Facilities (e)(f)	Wind	54.5	%	1,066.8		10.1		35.2
Total				$	3,692.8	$	31.6	$	1,131.3

				Registrant’s Share as of December 31, 2021
	Fuel Type	Percent of Ownership		Utility Plant in Service		Construction Work in Progress		Accumulated Depreciation
				(in millions)
AEP
Flint Creek Generating Station, Unit 1 (a)	Coal	50.0	%	$	377.6	$	6.3	$	133.5
Pirkey Plant, Unit 1 (a)	Lignite	85.9	%	613.8		—		528.3
Turk Generating Plant (a)	Coal	73.3	%	1,598.0		10.2		285.6
Total				$	2,589.4	$	16.5	$	947.4
I&M
Rockport Generating Plant (b)(c)(d)	Coal	50.0	%	$	1,247.2	$	13.9	$	794.5
PSO
North Central Wind Energy Facilities (e)(f)	Wind	45.5	%	$	313.7	$	—	$	4.2
SWEPCo
Flint Creek Generating Station, Unit 1 (a)	Coal	50.0	%	$	377.6	$	6.3	$	133.5
Pirkey Plant, Unit 1 (a)	Lignite	85.9	%	613.8		—		528.3
Turk Generating Plant (a)	Coal	73.3	%	1,598.0		10.2		285.6
North Central Wind Energy Facilities (e)(f)	Wind	54.5	%	376.2		—		5.4
Total				$	2,965.6	$	16.5	$	952.8

(a)Operated by SWEPCo.

(b)Operated by I&M.

(c)Amounts include I&M's 50% ownership of both Unit 1 and capital additions for Unit 2. Unit 2 was subject to a finance lease with a nonaffiliated company. In December 2022, the lease expired at which point I&M and AEGCo acquired 100% of the interests in Unit 2. See the "Rockport Plant Litigation" section of Note 6 for additional information.

(d)AEGCo owns 50%.

(e)PSO and SWEPCo own undivided interests of 45.5% and 54.5% of the NCWF, respectively. Sundance was placed into service in April 2021. Maverick was placed into service in September 2021. Traverse was placed into service in March 2022. See the “Acquisitions” section of Note 7 for additional information.

(f)Operated by PSO.