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Business Segments (Tables)
 3 Months Ended
Mar. 31, 2019
Reportable Segment Information
 
Three Months Ended March 31, 2019
 
Vertically Integrated Utilities
 
Transmission and Distribution Utilities
 
AEP Transmission Holdco
 
Generation
&
Marketing
 
Corporate and Other (a)
 
Reconciling Adjustments
 
Consolidated
 
(in millions)
Revenues from:
 

 
 

 
 

 
 

 
 

 
 
 
 

External Customers
$
2,372.3

 
$
1,179.8

 
$
61.2

 
$
439.7

 
$
3.8

 
$
—

 
$
4,056.8

Other Operating Segments
31.0

 
42.2

 
195.2

 
42.1

 
21.7

 
(332.2
)
 
—

Total Revenues
$
2,403.3

 
$
1,222.0

 
$
256.4

 
$
481.8

 
$
25.5

 
$
(332.2
)
 
$
4,056.8

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net Income (Loss)
$
303.6

 
$
156.5

 
$
125.2

 
$
39.2

 
$
(50.4
)
 
$
—

 
$
574.1

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended March 31, 2018
 
Vertically Integrated Utilities
 
Transmission and Distribution Utilities
 
AEP Transmission Holdco
 
Generation
&
Marketing
 
Corporate and Other (a)
 
Reconciling Adjustments
 
Consolidated
 
(in millions)
Revenues from:
 

 
 

 
 

 
 

 
 

 
 
 
 

External Customers
$
2,381.5

 
$
1,141.2

 
$
41.1

 
$
477.5

 
$
7.0

 
$
—

 
$
4,048.3

Other Operating Segments
26.5

 
21.2

 
164.4

 
27.6

 
17.0

 
(256.7
)
 
—

Total Revenues
$
2,408.0

 
$
1,162.4

 
$
205.5

 
$
505.1

 
$
24.0

 
$
(256.7
)
 
$
4,048.3

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net Income (Loss)
$
232.8

 
$
125.4

 
$
104.8

 
$
18.1

 
$
(24.4
)
 
$
—

 
$
456.7




 
 
March 31, 2019
 
 
Vertically Integrated Utilities
 
Transmission and Distribution Utilities
 
AEP Transmission Holdco
 
Generation
&
Marketing
 
Corporate and Other (a)
 
Reconciling
Adjustments
 
Consolidated
 
 
(in millions)
Total Property, Plant and Equipment
 
$
45,684.3

 
$
18,526.1

 
$
8,973.2

 
$
915.6

 
$
406.4

 
$
(354.4
)
(b)
$
74,151.2

Accumulated Depreciation and Amortization
 
13,944.5

 
3,856.1

 
318.8

 
58.7

 
190.9

 
(186.4
)
(b)
18,182.6

Total Property Plant and Equipment - Net
 
$
31,739.8

 
$
14,670.0

 
$
8,654.4

 
$
856.9

 
$
215.5

 
$
(168.0
)
(b)
$
55,968.6

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total Assets
 
$
40,085.7

 
$
17,419.0

 
$
9,790.2

 
$
1,960.1

 
$
4,341.2

(c)
$
(2,874.2
)
(b) (d)
$
70,722.0

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Long-term Debt Due Within One Year:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Nonaffiliated
 
$
912.1

 
533.3

 
85.0

 
—

 
(1.9
)
(e)
—

 
$
1,528.5

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Long-term Debt:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Affiliated
 
50.0

 
—

 
—

 
32.2

 
—

 
(82.2
)
 
—

Nonaffiliated
 
11,999.5

 
4,938.6

 
2,895.3

 
(0.3
)
 
3,065.1

 
—

 
22,898.2

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total Long-term Debt
 
$
12,961.6

 
$
5,471.9

 
$
2,980.3

 
$
31.9

 
$
3,063.2

(e)
$
(82.2
)
 
$
24,426.7

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
December 31, 2018
 
 
Vertically Integrated Utilities
 
Transmission and Distribution Utilities
 
AEP Transmission Holdco
 
Generation
&
Marketing
 
Corporate and Other (a)
 
Reconciling
Adjustments
 
Consolidated
 
 
(in millions)
Total Property, Plant and Equipment
 
$
45,365.1

 
$
18,126.7

 
$
8,659.5

 
$
893.3

 
$
395.2

 
$
(354.6
)
(b)
$
73,085.2

Accumulated Depreciation and Amortization
 
13,822.5

 
3,833.7

 
282.8

 
47.0

 
186.6

 
(186.5
)
(b)
17,986.1

Total Property Plant and Equipment - Net
 
$
31,542.6

 
$
14,293.0

 
$
8,376.7

 
$
846.3

 
$
208.6

 
$
(168.1
)
(b)
$
55,099.1

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total Assets
 
$
38,874.3

 
$
17,083.4

 
$
9,543.7

 
$
1,979.7

 
$
4,036.5

(c)
$
(2,714.8
)
(b) (d)
$
68,802.8

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Long-term Debt Due Within One Year:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Nonaffiliated
 
$
1,066.3

 
$
549.1

 
$
85.0

 
$
0.1

 
$
(2.0
)
(e)
$
—

 
$
1,698.5

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Long-term Debt:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Affiliated
 
50.0

 
—

 
—

 
32.2

 
—

 
(82.2
)
 
—

Nonaffiliated
 
11,442.7

 
5,048.8

 
2,888.6

 
(0.3
)
 
2,268.4

 
—

 
21,648.2

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total Long-term Debt
 
$
12,559.0

 
$
5,597.9

 
$
2,973.6

 
$
32.0

 
$
2,266.4

(e)
$
(82.2
)
 
$
23,346.7


(a)
Corporate and Other primarily includes the purchasing of receivables from certain AEP utility subsidiaries. This segment also includes Parent’s guarantee revenue received from affiliates, investment income, interest income and interest expense and other nonallocated costs.
(b)
Includes eliminations due to an intercompany finance lease.
(c)
Includes elimination of AEP Parent’s investments in wholly-owned subsidiary companies.
(d)
Reconciling Adjustments for Total Assets primarily include elimination of intercompany advances to affiliates and intercompany accounts receivable.
(e)
Amounts reflect the impact of fair value hedge accounting. See “Accounting for Fair Value Hedging Strategies” section of Note 10 for additional information.

 
Three Months Ended March 31, 2019
 
State Transcos
 
AEPTCo Parent
 
Reconciling Adjustments
 
AEPTCo
Consolidated
 
(in millions)
Revenues from:
 
 
 
 
 
 
 
External Customers
$
50.3

 
$
—

 
$
—

 
$
50.3

Sales to AEP Affiliates
193.2

 
—

 
—

 
193.2

Total Revenues
$
243.5

 
$
—

 
$
—

 
$
243.5

 
 
 
 
 
 
 
 
Interest Income
$
0.2

 
$
28.4

 
$
(27.9
)
(a)
$
0.7

Interest Expense
21.7

 
27.9

 
(27.9
)
(a)
21.7

Income Tax Expense
27.6

 
—

 
—

 
27.6

 
 
 
 
 
 
 
 
Net Income
$
104.2

 
$
0.1

(b)
—

 
$
104.3

 
Three Months Ended March 31, 2018
 
State Transcos (f)
 
AEPTCo Parent
 
Reconciling Adjustments
 
AEPTCo
Consolidated (f)
 
(in millions)
Revenues from:
 
 
 
 
 
 
 
External Customers
$
30.9

 
$
—

 
$
—

 
$
30.9

Sales to AEP Affiliates
160.7

 
—

 
—

 
160.7

    Other Revenues
0.1

 
—

 
—

 
0.1

Total Revenues
$
191.7

 
$
—

 
$
—

 
$
191.7

 
 
 
 
 
 
 
 
Interest Income
$
0.2

 
$
25.0

 
$
(24.8
)
(a)
$
0.4

Interest Expense
20.3

 
24.8

 
(24.8
)
(a)
20.3

Income Tax Expense
21.7

 
0.3

 
—

 
22.0

 
 
 
 
 
 
 
 
Net Income
$
84.1

 
$
—

 
$
—

 
$
84.1


 
March 31, 2019
 
State Transcos
 
AEPTCo Parent
 
Reconciling Adjustments
 
AEPTCo
Consolidated
 
(in millions)
Total Transmission Property
$
8,567.2

 
$
—

 
$
—

 
$
8,567.2

Accumulated Depreciation and Amortization
306.7

 
—

 
—

 
306.7

Total Transmission Property – Net
$
8,260.5

 
$
—

 
$
—

 
$
8,260.5

 
 
 
 
 
 
 
 
Notes Receivable – Affiliated
$
—

 
$
2,823.4

 
$
(2,823.4
)
(c)
$
—

 
 
 
 
 
 
 
 
Total Assets
$
8,584.0

 
$
2,928.1

(d)
$
(2,896.0
)
(e)
$
8,616.1

 
 
 
 
 
 
 
 
Total Long-term Debt
$
2,850.0

 
$
2,823.4

 
$
(2,850.0
)
(c)
$
2,823.4

 
December 31, 2018
 
State Transcos
 
AEPTCo Parent
 
Reconciling Adjustments
 
AEPTCo
Consolidated
 
(in millions)
Total Transmission Property
$
8,268.1

 
$
—

 
$
—

 
$
8,268.1

Accumulated Depreciation and Amortization
271.9

 
—

 
—

 
271.9

Total Transmission Property – Net
$
7,996.2

 
$
—

 
$
—

 
$
7,996.2

 
 
 
 
 
 
 
 
Notes Receivable – Affiliated
$
—

 
$
2,823.0

 
$
(2,823.0
)
(c)
$
—

 
 
 
 
 
 
 
 
Total Assets
$
8,406.8

 
$
2,857.1

(d)
$
(2,869.8
)
(e)
$
8,394.1

 
 
 
 
 
 
 
 
Total Long-term Debt
$
2,850.0

 
$
2,823.0

 
$
(2,850.0
)
(c)
$
2,823.0


(a)
Elimination of intercompany interest income/interest expense on affiliated debt arrangement.
(b)
Includes the elimination of AEPTCo Parent’s equity earnings in the State Transcos.
(c)
Elimination of intercompany debt.
(d)
Includes the elimination of AEPTCo Parent’s investments in State Transcos.
(e)
Primarily relates to the elimination of Notes Receivable from the State Transcos.
(f)
The amounts presented reflect the revisions made to AEPTCo’s previously issued financial statements. See the “Revisions to Previously Issued Financial Statements” section of Note 1 for additional information