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Financing Activities (Tables)
 12 Months Ended
Dec. 31, 2023
AEP Common Stock
Shares of AEP Common StockIssuedHeld in Treasury
Balance, December 31, 2020516,808,354 20,204,160 
Issued7,607,821 — 
Balance, December 31, 2021524,416,175 20,204,160 
Issued683,146 — 
Treasury Stock Reissued— (8,970,920)(a)
Balance, December 31, 2022525,099,321 11,233,240 
Issued2,269,836 — 
Treasury Stock Reissued— (10,048,668)(a)
Balance, December 31, 2023527,369,157 1,184,572 

(a)Reissued Treasury Stock used to fulfill share commitments related to AEP’s Equity Units. See “Equity Units” section below for additional information.
Long-term Debt
Weighted-AverageInterest Rate Ranges as ofOutstanding as of
Interest Rate as ofDecember 31,December 31,
CompanyMaturityDecember 31, 20232023202220232022
AEP(in millions)
Senior Unsecured Notes 2024-20534.23%1.00%-8.13%0.75%-8.13%$33,779.4 $30,174.8 
Pollution Control Bonds (a)2024-2036 (b)2.98%0.63%-4.90%0.63%-4.55%1,771.6 1,770.2 
Notes Payable – Nonaffiliated (c)2024-20284.67%0.93%-6.59%0.93%-6.37%193.3 269.7 
Securitization Bonds2024-2029 (d)2.97%2.06%-3.77%2.01%-3.77%368.9 487.8 
Spent Nuclear Fuel Obligation (e)300.4 285.6 
Junior Subordinated Notes (f)2024-20273.90%2.03%-5.70%1.30%-3.88%2,388.1 2,381.3 
Other Long-term Debt2024-20596.58%3.00%-13.72%1.15%-13.72%1,341.5 1,431.6 
Total Long-term Debt Outstanding$40,143.2 $36,801.0 
AEP Texas
Senior Unsecured Notes2025-20524.20%2.10%-6.76%2.10%-6.76%$5,027.2 $4,702.7 
Pollution Control Bonds2029-2030 (b)3.88%2.60%-4.55%0.90%-4.55%440.3 440.2 
Securitization Bonds2024-2029 (d)2.43%2.06%-2.84%2.06%-2.84%221.8 314.4 
Other Long-term Debt2025-20596.70%4.50%-6.71%4.50%-5.67%200.5 200.5 
Total Long-term Debt Outstanding
$5,889.8 $5,657.8 
AEPTCo
Senior Unsecured Notes2024-20534.02%2.75%-5.52%2.75%-5.52%$5,414.4 $4,782.8 
Total Long-term Debt Outstanding
$5,414.4 $4,782.8 
APCo
Senior Unsecured Notes2025-20504.68%2.70%-7.00%2.70%-7.00%$4,584.9 $4,581.4 
Pollution Control Bonds (a)2024-2036 (b)2.89%0.63%-4.90%0.63%-3.80%430.0 429.4 
Securitization Bonds2028 (d)3.77%3.77%2.01%-3.77%147.0 173.3 
Other Long-term Debt2024-20266.53%6.46%-13.72%4.84%-13.72%426.4 226.4 
Total Long-term Debt Outstanding
$5,588.3 $5,410.5 
I&M
Senior Unsecured Notes2028-20534.52%3.25%-6.05%3.20%-6.05%$2,843.6 $2,597.3 
Pollution Control Bonds (a)2025 (b)2.49%0.75%-3.05%0.75%-3.05%189.4 189.0 
Notes Payable – Nonaffiliated (c)2024-20285.08%0.93%-6.59%0.93%-5.93%163.3 183.8 
Spent Nuclear Fuel Obligation (e)300.4 285.6 
Other Long-term Debt20256.00%6.00%6.00%2.7 5.1 
Total Long-term Debt Outstanding
$3,499.4 $3,260.8 
OPCo
Senior Unsecured Notes2030-20514.00%1.63%-6.60%1.63%-6.60%$3,366.8 $2,969.7 
Other Long-term Debt—%—%1.15%— 0.6 
Total Long-term Debt Outstanding
$3,366.8 $2,970.3 
PSO
Senior Unsecured Notes2025-20514.05%2.20%-6.63%2.20%-6.63%$2,257.8 $1,785.6 
Other Long-term Debt2025-20276.65%3.00%-6.71%3.00%-5.75%126.8 127.2 
Total Long-term Debt Outstanding
$2,384.6 $1,912.8 
SWEPCo
Senior Unsecured Notes2026-20513.73%1.65%-6.20%1.65%-6.20%$3,646.9 $3,297.6 
Notes Payable – Nonaffiliated (c)—%—%4.58%-6.37%— 55.9 
Other Long-term Debt—%—%4.68%— 38.1 
Total Long-term Debt Outstanding
$3,646.9 $3,391.6 

(a)For certain series of Pollution Control Bonds, interest rates are subject to periodic adjustment.  Certain series may be purchased on demand at periodic interest adjustment dates.  Letters of credit from banks and insurance policies support certain series. Consequently, these bonds have been classified for maturity purposes as Long-term Debt Due Within One Year - Nonaffiliated on the balance sheets.
(b)Certain Pollution Control Bonds are subject to redemption earlier than the maturity date.
(c)Notes payable represent outstanding promissory notes issued under term loan agreements and credit agreements with a number of banks and other financial institutions. At expiration, all notes then issued and outstanding are due and payable. Interest rates are both fixed and variable. Variable rates generally relate to specified short-term interest rates.
(d)Dates represent the scheduled final payment dates for the securitization bonds. The legal maturity date is one to two years later. These bonds have been classified for maturity and repayment purposes based on the scheduled final payment date.
(e)Spent Nuclear Fuel Obligation consists of a liability along with accrued interest for disposal of SNF. See “Spent Nuclear Fuel Disposal” section of Note 6 for additional information.
(f)See “Equity Units” section below for additional information.
Long-term Debt 5-Year Maturity
AEPAEP TexasAEPTCoAPCoI&MOPCoPSOSWEPCo
(in millions)
2024$2,490.5 $96.0 $95.0 $538.8 $83.7 $— $0.6 $— 
20253,308.5 524.5 90.0 673.3 241.2 — 250.6 — 
20261,780.5 75.0 425.0 30.9 26.3 — 50.6 900.0 
20272,215.9 25.6 — 355.6 4.1 — 0.3 — 
20282,326.6 526.2 60.0 31.8 350.8 — — 575.0 
After 202828,349.7 4,690.2 4,806.0 4,000.0 2,825.4 3,400.0 2,100.0 2,200.0 
Principal Amount40,471.7 5,937.5 5,476.0 5,630.4 3,531.5 3,400.0 2,402.1 3,675.0 
Unamortized Discount, Net and Debt Issuance Costs
(328.5)(47.7)(61.6)(42.1)(32.1)(33.2)(17.5)(28.1)
Total Long-term Debt Outstanding
$40,143.2 $5,889.8 $5,414.4 $5,588.3 $3,499.4 $3,366.8 $2,384.6 $3,646.9 
Dividend Payment Restrictions
AEPAEP TexasAEPTCoAPCoI&MOPCoPSOSWEPCo
(in millions)
Restricted Retained Earnings
$3,003.4 (a)$737.1 $— $721.5 $702.6 $— $1.3 $337.3 

(a)    Includes the restrictions of consolidated and non-consolidated subsidiaries.
Lines of Credit and Short-term Debt
December 31,
20232022
CompanyType of DebtOutstanding
Amount		Interest
Rate (a)		Outstanding
Amount		Interest
Rate (a)
(in millions)(in millions)
AEPSecuritized Debt for Receivables (b)$888.0 5.65 %$750.0 4.67 %
AEPCommercial Paper1,937.9 5.69 %2,862.2 4.80 %
AEPTerm Loan— — %125.0 5.17 %
AEPTerm Loan— — %150.0 5.17 %
AEPTerm Loan— — %100.0 5.23 %
AEPTerm Loan— — %125.0 4.87 %
SWEPCoNotes Payable4.3 7.71 %— — %
Total Short-term Debt$2,830.2 $4,112.2 

(a)    Weighted-average rate as of December 31, 2023 and 2022, respectively.
(b)    Amount of securitized debt for receivables as accounted for under the “Transfers and Servicing” accounting guidance.
Utility Money Pool Participants' Money Pool Activity and Authorized Borrowing Limits
Year Ended December 31, 2023:
MaximumAverageNet Loans to
BorrowingsMaximumBorrowingsAverage(Borrowings from)Authorized
from the Loans to the from the Loans to the the Utility MoneyShort-term
UtilityUtilityUtilityUtilityPool as ofBorrowing
CompanyMoney PoolMoney PoolMoney PoolMoney PoolDecember 31, 2023Limit
(in millions)
AEP Texas$477.5 $42.0 $216.8 $12.9 $(103.7)$600.0 
AEPTCo471.3 309.4 135.6 70.5 (62.8)820.0 (a)
APCo388.6 19.8 283.5 19.0 (320.7)750.0 
I&M475.3 112.2 84.0 44.2 (63.3)500.0 
OPCo485.7 64.7 183.0 40.2 (110.5)500.0 
PSO375.0 121.5 92.5 49.6 (54.4)750.0 
SWEPCo401.6 25.8 150.7 16.5 (88.7)750.0 
Year Ended December 31, 2022:
MaximumAverageNet Loans to
BorrowingsMaximumBorrowingsAverage(Borrowings from)Authorized
from theLoans to thefrom the Loans to the the Utility MoneyShort-term
UtilityUtilityUtilityUtilityPool as ofBorrowing
CompanyMoney PoolMoney PoolMoney PoolMoney PoolDecember 31, 2022Limit
(in millions)
AEP Texas$348.8 $652.3 $173.3 $247.8 $(96.5)$500.0 
AEPTCo480.2 137.0 189.4 28.9 (195.5)820.0 (a)
APCo438.4 214.2 181.7 45.4 (162.4)500.0 
I&M318.6 23.0 105.2 22.3 (226.9)500.0 
OPCo262.5 246.1 101.3 86.9 (172.9)500.0 
PSO364.2 432.5 224.5 402.8 (364.2)400.0 
SWEPCo358.4 156.6 219.3 109.7 (310.7)400.0 

(a)    Amount represents the combined authorized short-term borrowing limit the State Transcos have from FERC or state regulatory commissions.
Nonutility Money Pool Activity
Year Ended December 31, 2023:
Maximum LoansAverage LoansLoans to the Nonutility
to the Nonutilityto the NonutilityMoney Pool as of
CompanyMoney PoolMoney PoolDecember 31, 2023
(in millions)
AEP Texas$7.1 $6.9 $7.1 
SWEPCo2.8 2.4 2.2 

Year Ended December 31, 2022:
Maximum LoansAverage LoansLoans to the Nonutility
to the Nonutilityto the NonutilityMoney Pool as of
CompanyMoney PoolMoney PoolDecember 31, 2022
(in millions)
AEP Texas$7.0 $6.8 $6.9 
SWEPCo2.1 2.1 2.1 
Direct Borrowing Activity
Year Ended December 31, 2023:
MaximumMaximumAverageAverageBorrowings fromLoans toAuthorized
BorrowingsLoansBorrowingsLoansAEP as ofAEP as ofShort-term
from AEPto AEPfrom AEPto AEPDecember 31, 2023December 31, 2023Borrowing Limit
(in millions)
$44.4 $158.1 $3.9 $64.2 $44.4 $— $50.0 (a)
Year Ended December 31, 2022:
MaximumMaximumAverageAverageBorrowings fromLoans toAuthorized
BorrowingsLoansBorrowingsLoansAEP as ofAEP as ofShort-term
from AEPto AEPfrom AEPto AEPDecember 31, 2022December 31, 2022Borrowing Limit
(in millions)
$52.4 $141.8 $6.7 $57.5 $29.4 $— $50.0 (a)

(a)    Amount represents the authorized short-term borrowing limit from FERC or state regulatory agencies not otherwise included in the utility money pool above.
Maximum and Minimum Interest Rates for Funds Either Borrowed from or Loaned to Utility Money Pool
Years Ended December 31,
202320222021
Maximum Interest Rate5.81 %5.28 %0.48 %
Minimum Interest Rate4.66 %0.10 %0.02 %
Average Interest Rates for Funds Borrowed from and Loaned to Utility Money Pool
Average Interest Rate for Funds Borrowed
from the Utility Money Pool for the
Years Ended December 31,		Average Interest Rate for Funds Loaned
to the Utility Money Pool for the
Years Ended December 31,
Company202320222021202320222021
AEP Texas5.46 %1.08 %0.33 %5.71 %1.99 %0.26 %
AEPTCo5.41 %1.81 %0.32 %5.56 %2.47 %0.10 %
APCo5.54 %2.34 %0.41 %5.54 %2.39 %0.25 %
I&M5.14 %2.57 %0.33 %5.57 %2.20 %0.23 %
OPCo5.43 %3.51 %0.27 %5.60 %1.22 %0.14 %
PSO5.51 %2.65 %0.34 %5.35 %0.75 %0.07 %
SWEPCo5.34 %2.80 %0.26 %5.72 %0.55 %0.18 %
Maximum, Minimum and Average Interest Rates for Funds Borrowed from and Loaned to the Nonutility Money Pool
 Maximum Interest Rate Minimum Interest Rate Average Interest Rate
Year Ended for Funds Loaned to for Funds Loaned to for Funds Loaned to
December 31,Company the Nonutility Money Pool the Nonutility Money Pool the Nonutility Money Pool
2023AEP Texas 5.81 %4.66 %5.54 %
2023SWEPCo 5.81 %4.66 %5.56 %
2022AEP Texas5.28 %0.46 %2.23 %
2022SWEPCo5.28 %0.46 %2.23 %
2021AEP Texas0.58 %0.21 %0.37 %
2021SWEPCo0.58 %0.21 %0.37 %
Maximum Minimum and Average Interest Rates for Funds Borrowed from and Loaned to AEP
  Maximum Minimum Maximum Minimum Average Average
  Interest Rate Interest Rate Interest Rate Interest Rate Interest Rate Interest Rate
  for Funds for Funds for Funds for Funds for Funds for Funds
Year Ended Borrowed from Borrowed from Loaned to Loaned to Borrowed from Loaned to
December 31, AEP AEPAEP AEP AEP AEP
2023 5.81 %4.53 %5.81 %4.53 %5.56 %5.51 %
2022 5.28 %0.46 %5.28 %0.46 %2.08 %2.07 %
20210.86 %0.25 %0.86 %0.25 %0.38 %0.35 %
Customer Accounts Receivable Managed Portfolio
December 31,
20232022
(in millions)
Accounts Receivable Retained Interest and Pledged as Collateral Less Uncollectible Accounts$1,207.4 $1,167.7 
Short-term – Securitized Debt of Receivables
888.0 750.0 
Delinquent Securitized Accounts Receivable52.2 44.2 
Bad Debt Reserves Related to Securitization42.0 39.7 
Unbilled Receivables Related to Securitization409.8 360.9 
Accounts Receivable and Accrued Unbilled Revenues
December 31,
Company20232022
(in millions)
APCo$184.6 $194.4 
I&M156.4 166.9 
OPCo541.7 478.6 
PSO134.6 155.5 
SWEPCo168.3 194.0 
Fees Paid to AEP Credit for Customer Accounts Receivable Sold
Years Ended December 31,
Company202320222021 (a)
(in millions)
APCo$16.9 $9.4 $4.9 
I&M16.3 9.7 7.0 
OPCo29.5 29.8 8.3 
PSO15.3 7.4 3.4 
SWEPCo18.5 9.4 5.4 
(a)In 2021, due to the successful collection of accounts receivable balances during the COVID-19 pandemic, the allowance for doubtful accounts was reduced, resulting in the issuance of credits to offset the higher fees previously paid and to lower subsequent fees paid.
Proceeds on Sale of Receivables to AEP Credit
Years Ended December 31,
Company202320222021
(in millions)
APCo$1,819.8 $1,552.9 $1,324.1 
I&M2,054.8 2,045.6 1,927.0 
OPCo3,339.3 3,101.3 2,458.5 
PSO1,944.5 1,809.5 1,406.4 
SWEPCo1,866.4 1,858.4 1,636.1 
Interest Expense Incurred For Funds Borrowed from Utility Money Pool
Years Ended December 31,
Company202320222021
(in millions)
AEP Texas$10.8 $0.9 $0.3 
AEPTCo7.6 3.5 0.6 
APCo16.8 5.6 0.1 
I&M3.2 2.9 0.2 
OPCo9.7 2.3 0.1 
PSO2.3 5.5 0.3 
SWEPCo7.9 4.9 0.3 
Interest Income Earned for Funds Loaned to Utility Money Pool
Years Ended December 31,
Company202320222021
(in millions)
AEP Texas$0.1 $2.6 $0.1 
AEPTCo7.0 1.6 0.4 
APCo1.1 2.8 0.3 
I&M2.4 0.5 0.2 
OPCo0.1 0.4 0.1 
PSO1.5 0.3 — 
SWEPCo0.2 0.2 0.1 
Comparative Accounts Receivable Information
Years Ended December 31,
202320222021
(dollars in millions)
Effective Interest Rates on Securitization of Accounts Receivable5.33 %1.84 %0.19 %
Net Uncollectible Accounts Receivable Written Off$30.7 $29.5 $26.5