Property, Plant and Equipment (Tables)

12 Months Ended

Dec. 31, 2023

Property, Plant and Equipment

December 31, 2023	AEP			AEP Texas		AEPTCo		APCo		I&M		OPCo		PSO		SWEPCo
	(in millions)
Regulated Property, Plant and Equipment
Generation	$	23,862.7	(a)	$	—	$	—	$	7,041.3	$	5,588.7	$	—	$	2,695.5	$	4,790.7	(a)
Transmission	35,903.6			6,812.6		13,723.9		4,711.8		1,906.4		3,395.1		1,228.3		2,660.6
Distribution	28,989.9			5,798.8		—		5,176.6		3,254.0		6,839.4		3,450.8		2,824.1
Other	5,986.1			1,142.9		501.2		943.7		856.8		1,114.4		502.7		544.1
CWIP	5,480.6		(a)	904.6		1,563.7		709.2		294.1		654.0		313.7		555.8		(a)
Less: Accumulated Depreciation	24,093.8			1,886.7		1,291.4		5,684.0		4,353.7		2,712.7		2,083.6		2,840.8
Total Regulated Property, Plant and Equipment - Net	76,129.1			12,772.2		14,497.4		12,898.6		7,546.3		9,290.2		6,107.4		8,534.5
Nonregulated Property, Plant and Equipment - Net	564.3			1.8		0.3		32.9		82.7		9.7		4.9		23.9
Total Property, Plant and Equipment - Net	$	76,693.4		$	12,774.0	$	14,497.7	$	12,931.5	$	7,629.0	$	9,299.9	$	6,112.3	$	8,558.4

December 31, 2022	AEP			AEP Texas		AEPTCo		APCo		I&M		OPCo		PSO		SWEPCo
	(in millions)
Regulated Property, Plant and Equipment
Generation	$	23,759.7	(a)	$	—	$	—	$	6,776.8	$	5,534.6	$	—	$	2,394.8	$	5,476.2	(a)
Transmission	33,221.7			6,301.5		12,335.4		4,482.8		1,842.2		3,198.6		1,164.4		2,479.8
Distribution	27,138.8			5,312.8		—		4,933.0		3,024.7		6,450.3		3,216.4		2,659.6
Other	5,528.9			1,020.4		476.6		849.2		796.1		1,040.6		466.0		582.6
CWIP	4,776.4		(a)	805.2		1,554.7		705.3		253.0		474.3		219.3		369.5		(a)
Less: Accumulated Depreciation	23,118.0			1,759.5		1,027.1		5,397.3		4,117.8		2,564.3		1,839.4		3,314.8
Total Regulated Property, Plant and Equipment - Net	71,307.5			11,680.4		13,339.6		12,349.8		7,332.8		8,599.5		5,621.5		8,252.9
Nonregulated Property, Plant and Equipment - Net	2,031.6			1.2		0.3		29.4		78.7		9.8		5.0		9.3
Total Property, Plant and Equipment - Net	$	73,339.1		$	11,681.6	$	13,339.9	$	12,379.2	$	7,411.5	$	8,609.3	$	5,626.5	$	8,262.2

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

Depreciation, Depletion and Amortization - Regulated

AEP
	2023						2022						2021
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%	-	4.7%	20	-	162	2.7%	-	7.6%	20	-	132	2.7%	-	7.8%	20	-	132
Transmission	2.0%	-	2.7%	15	-	78	2.0%	-	2.7%	24	-	75	2.0%	-	2.6%	15	-	75
Distribution	2.9%	-	3.6%	7	-	85	2.7%	-	3.6%	7	-	78	2.8%	-	3.6%	7	-	80
Other	3.8%	-	9.1%	5	-	75	3.1%	-	14.4%	5	-	75	3.0%	-	12.5%	5	-	75

AEP Texas
	2023				2022				2021
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	2.2%	50	-	75
Distribution	2.9%	7	-	70	2.9%	7	-	70	2.9%	7	-	70
Other	6.0%	5	-	50	6.2%	5	-	50	5.8%	5	-	50

AEPTCo
	2023				2022				2021
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	-	78	2.6%	24	-	75	2.5%	24	-	75
Other	7.0%	5	-	58	6.6%	5	-	56	6.7%	5	-	56

APCo
	2023				2022				2021
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	3.3%	35	-	162	3.6%	35	-	118	3.6%	35	-	118
Transmission	2.3%	15	-	78	2.2%	24	-	75	2.1%	15	-	75
Distribution	3.6%	12	-	60	3.6%	12	-	57	3.5%	12	-	57
Other	7.4%	5	-	55	7.3%	5	-	55	8.5%	5	-	55

I&M
	2023				2022				2021
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	4.7%	20	-	132	4.9%	20	-	132	4.7%	20	-	132
Transmission	2.5%	44	-	67	2.5%	44	-	67	2.4%	45	-	70
Distribution	2.9%	14	-	71	3.1%	14	-	71	3.4%	14	-	71
Other	9.1%	5	-	45	10.1%	5	-	45	9.0%	5	-	51

OPCo
	2023				2022				2021
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	3.1%	11	-	70	2.7%	11	-	70	2.9%	11	-	70
Other	6.4%	5	-	50	6.1%	5	-	50	6.1%	5	-	50

PSO
	2023				2022				2021
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	3.0%	25	-	75	3.1%	30	-	75	2.8%	30	-	75
Transmission	2.6%	41	-	75	2.5%	42	-	75	2.4%	42	-	75
Distribution	2.9%	15	-	85	2.9%	15	-	78	2.9%	15	-	78
Other	6.8%	5	-	58	6.8%	5	-	56	6.1%	5	-	56

SWEPCo
	2023				2022				2021
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	2.9%	30	-	65	2.7%	30	-	65	2.7%	30	-	65
Transmission	2.2%	46	-	70	2.3%	44	-	70	2.4%	49	-	74
Distribution	2.9%	7	-	75	2.9%	15	-	75	2.8%	15	-	80
Other	8.5%	5	-	58	9.0%	5	-	57	8.6%	5	-	58

Depreciation, Depletion and Amortization - Unregulated

	2023							2022							2021
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	4.8%	-	6.7%	10	-	61		3.8%	-	8.7%	3	-	61		3.8%	-	10.4%	10	-	59
Transmission	2.5%			62				2.8%			10	-	62		2.6%			30	-	40
Distribution	NA			NA				NA			NA				NA			NA
Other	10.6%			5	-	35	(a)	25.2%			5	-	35	(a)	16.5%			5	-	35	(a)

(a)In 2020, management announced plans to retire the Pirkey Plant in 2023 and the related depreciable lives have been adjusted accordingly. Pirkey Plant was retired in March 2023. See "Coal-Fired Generation Plants" of Note 5 for additional information.

NA Not applicable.

Asset Retirement Obligation (ARO)

Company	ARO as of December 31, 2022		Accretion Expense		Liabilities Incurred		Liabilities Settled		Revisions in Cash Flow Estimates (a)		ARO as of December 31, 2023
	(in millions)
AEP(b)(c)(d)(e)(f)(g)	$	2,943.6	$	116.3	$	38.9	$	(130.6)	$	63.0	$	3,031.2
AEP Texas (b)(e)	4.5		0.2		—		(0.3)		0.1		4.5
APCo (b)(e)	427.7		16.8		16.1		(23.1)		26.5		464.0
I&M (b)(c)(e)	2,028.1		74.8		4.8		(3.7)		2.0		2,106.0
OPCo (e)	5.0		0.2		—		(3.1)		—		2.1
PSO (b)(e)(g)	75.7		4.7		5.8		(1.2)		(0.8)		84.2
SWEPCo (b)(d)(e)(g)	280.9		13.7		7.5		(55.0)		34.5		281.6

Company	ARO as of December 31, 2021		Accretion Expense		Liabilities Incurred		Liabilities Settled		Revisions in Cash Flow Estimates (a)		ARO as of December 31, 2022
	(in millions)
AEP (b)(c)(d)(e)(f)(g)	$	2,741.7	$	111.2	$	37.4	$	(47.0)	$	100.3	$	2,943.6
AEP Texas (b)(e)	4.4		0.3		—		(0.2)		—		4.5
APCo (b)(e)	404.6		15.8		3.0		(12.7)		17.0		427.7
I&M (b)(c)(e)	1,946.3		71.5		3.2		(0.6)		7.7		2,028.1
OPCo (e)	1.9		0.2		3.0		(0.1)		—		5.0
PSO (b)(e)(g)	57.6		4.1		12.8		(0.7)		1.9		75.7
SWEPCo (b)(d)(e)(g)	222.7		11.9		15.4		(25.8)		56.7		280.9

(a)Unless discussed above, primarily related to ash ponds, landfills and mine reclamation, generally due to changes in estimated closure area, volumes and/or unit costs.

(b)Includes ARO related to ash disposal facilities.

(c)Includes ARO related to nuclear decommissioning costs for the Cook Plant of $2.11 billion and $2 billion as of December 31, 2023 and 2022, respectively.

(d)Includes ARO related to Sabine and DHLC.

(e)Includes ARO related to asbestos removal.

(f)Includes ARO related to solar farms.

(g)Includes ARO related to wind farms.

Allowance For Equity Funds Used During Construction

	Years Ended December 31,
Company	2023		2022		2021
	(in millions)
AEP	$	174.9	$	133.7	$	139.7
AEP Texas	28.4		19.7		21.5
AEPTCo	83.2		70.7		67.2
APCo	11.9		11.7		15.6
I&M	10.9		9.8		12.8
OPCo	17.1		13.9		10.8
PSO	8.4		1.5		2.4
SWEPCo	11.5		4.9		7.0

Allowance For Borrowed Funds Used During Construction

	Years Ended December 31,
Company	2023		2022		2021
	(in millions)
AEP	$	117.3	$	63.0	$	53.8
AEP Texas	23.4		11.5		10.5
AEPTCo	31.4		22.4		21.0
APCo	14.1		6.5		7.5
I&M	7.7		5.7		5.1
OPCo	14.0		6.7		4.7
PSO	5.2		2.7		0.7
SWEPCo	9.8		4.3		3.0

Jointly-owned Electric Facilities

				Registrant’s Share as of December 31, 2023
	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	%	$	402.8	$	1.6	$	167.5
Pirkey Plant, Unit 1 (a)(f)	Lignite	85.9	%	—		—		—
Turk Generating Plant (a)(g)	Coal	73.3	%	1,504.0		10.1		323.3
Total				$	1,906.8	$	11.7	$	490.8
I&M
Rockport Generating Plant (b)(c)	Coal	50.0	%	$	1,341.4	$	7.9	$	1,018.9
PSO
North Central Wind Energy Facilities (d)(e)	Wind	45.5	%	$	906.3	$	2.4	$	54.1
SWEPCo
Flint Creek Generating Station, Unit 1 (a)	Coal	50.0	%	$	402.8	$	1.6	$	167.5
Pirkey Plant, Unit 1 (a)(f)	Lignite	85.9	%	—		—		—
Turk Generating Plant (a)(g)	Coal	73.3	%	1,504.0		10.1		323.3
North Central Wind Energy Facilities (d)(e)	Wind	54.5	%	1,086.3		2.9		67.9
Total				$	2,993.1	$	14.6	$	558.7

				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)	Coal	50.0	%	$	1,357.4	$	9.2	$	905.1
PSO
North Central Wind Energy Facilities (d)(e)	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 (d)(e)	Wind	54.5	%	1,066.8		10.1		35.2
Total				$	3,692.8	$	31.6	$	1,131.3

(a)Operated by SWEPCo.

(b)Operated by I&M.

(c)AEGCo owns 50%.

(d)Operated by PSO.

(e)PSO and SWEPCo own undivided interests of 45.5% and 54.5% of the NCWF, respectively.

(f)Pirkey Plant was retired in March 2023. See "Coal-Fired Generation Plants" of Note 5 for additional information.

(g)Includes impact of regulatory disallowance of AFUDC. See “2012 Texas Base Rate Case” section of Note 4 for additional information.