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Consolidated Statements of Income - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Revenues        
Revenue from Contracts with Customers $ 3,573.6 $ 4,013.2 $ 7,630.4 $ 8,061.5
Sales to AEP Affiliates 0.0 0.0 0.0 0.0
TOTAL REVENUES 3,573.6 4,013.2 7,630.4 8,061.5
Expenses        
Other Operation 607.4 780.3 1,273.4 1,506.7
Maintenance 348.7 295.9 623.2 594.4
Depreciation and Amortization 622.6 553.2 1,228.4 1,092.9
Taxes Other Than Income Taxes 302.3 283.2 612.2 568.8
TOTAL EXPENSES 3,022.6 3,256.2 6,291.0 6,598.5
OPERATING INCOME (LOSS) 551.0 757.0 1,339.4 1,463.0
Other Income (Expense):        
Other Income 6.6 6.7 15.2 12.2
Allowance for Equity Funds Used During Construction 50.4 30.8 79.3 61.5
Non-Service Cost Components of Net Periodic Benefit Cost 30.0 31.4 60.0 63.4
Interest Expense (250.7) (242.3) (506.5) (476.3)
INCOME BEFORE INCOME TAX EXPENSE AND EQUITY EARNINGS 387.3 583.6 987.4 1,123.8
Income Tax Expense (Benefit) (54.4) 72.2 (9.9) 174.2
Equity Earnings (Loss) of Unconsolidated Subsidiaries 17.4 18.7 35.9 37.2
Net Income (Loss) 459.1 530.1 1,033.2 986.8
Net Income (Loss) Attributable to Noncontrolling Interests (2.2) 1.7 (0.9) 4.0
Earnings Attributable to Common Shareholders $ 461.3 $ 528.4 $ 1,034.1 $ 982.8
Earnings Per Share        
Weighted Average Number of Basic AEP Common Shares Outstanding 493,584,347 492,688,342 493,447,477 492,479,035
Total Basic Earnings Per Share Attributable to AEP Common Shareholders $ 0.93 $ 1.07 $ 2.10 $ 2.00
Weighted Average Number of Diluted AEP Common Shares Outstanding 495,382,966 493,505,085 494,934,320 493,317,355
Total Diluted Earnings Per Share Attributable to AEP Common Shareholders $ 0.93 $ 1.07 $ 2.09 $ 1.99
Common Stock, Dividends Per Share, Declared $ 0.67 $ 0.62    
Vertically Integrated Utilities [Member]        
Revenues        
Revenue from Contracts with Customers $ 2,116.4 $ 2,340.7 $ 4,488.7 $ 4,722.2
Transmission and Distribution Utilities [Member]        
Revenues        
Revenue from Contracts with Customers 1,001.6 1,127.9 2,181.4 2,269.1
Generation and Marketing [Member]        
Revenues        
Revenue from Contracts with Customers 382.9 435.3 822.6 912.8
Other Revenues [Member]        
Revenues        
Revenue from Contracts with Customers 72.7 109.3 137.7 157.4
TOTAL REVENUES (9.4) [1] (8.6) [2] 40.3 [3] 19.9 [4]
Fuel and Other Consumables Used for Electric Generation [Member]        
Revenues        
Revenue from Contracts with Customers 512.8 [5] 344.8 [6] 767.8 [7] 703.9 [8]
Expenses        
Cost of Goods and Services Sold 480.9 566.9 1,031.3 1,068.7
Purchased Electricity for Resale [Member]        
Expenses        
Cost of Goods and Services Sold 660.7 776.7 1,522.5 1,767.0
AEP Texas Inc. [Member]        
Revenues        
Sales to AEP Affiliates 42.2 17.6 82.4 35.8
TOTAL REVENUES 438.0 388.3 828.7 759.9
Expenses        
Other Operation 111.2 118.0 221.0 235.0
Maintenance 89.9 23.1 115.2 44.6
Depreciation and Amortization 155.7 121.6 294.6 231.6
Taxes Other Than Income Taxes 34.0 33.6 70.5 66.0
TOTAL EXPENSES 399.3 302.1 719.2 591.9
OPERATING INCOME (LOSS) 38.7 86.2 109.5 168.0
Other Income (Expense):        
Other Income 2.1 2.9 4.3 8.9
Allowance for Equity Funds Used During Construction     3.2 9.4
Non-Service Cost Components of Net Periodic Benefit Cost 2.8 3.0 5.6 6.1
Interest Expense (19.5) (36.6) (56.9) (71.6)
INCOME BEFORE INCOME TAX EXPENSE AND EQUITY EARNINGS 24.1 55.5 62.5 111.4
Income Tax Expense (Benefit) (56.5) 9.0 (52.5) 18.1
Net Income (Loss) 80.6 46.5 115.0 93.3
AEP Texas Inc. [Member] | Transmission and Distribution Utilities [Member]        
Revenues        
Revenue from Contracts with Customers 395.1 370.1 744.9 722.5
AEP Texas Inc. [Member] | Other Revenues [Member]        
Revenues        
Revenue from Contracts with Customers 0.7 0.6 1.4 1.6
TOTAL REVENUES 41.0 [9] 17.2 [10] 80.8 [11] 35.0 [12]
AEP Texas Inc. [Member] | Fuel and Other Consumables Used for Electric Generation [Member]        
Revenues        
Revenue from Contracts with Customers 0.0 [13] 0.0 [14] 0.0 [15] 0.0 [16]
Expenses        
Cost of Goods and Services Sold 8.5 5.8 17.9 14.7
AEP Transmission Co [Member]        
Revenues        
Sales to AEP Affiliates 209.1 144.7 402.3 305.4
TOTAL REVENUES 266.9 200.1 [17] 510.4 391.8 [18]
Expenses        
Other Operation 18.7 18.5 35.7 35.1
Maintenance 2.5 2.2 5.7 4.8
Depreciation and Amortization 42.8 32.3 83.1 62.6
Taxes Other Than Income Taxes 41.9 36.6 83.3 67.7
TOTAL EXPENSES 105.9 89.6 207.8 170.2
OPERATING INCOME (LOSS) 161.0 110.5 302.6 221.6
Other Income (Expense):        
Interest Income 0.6 0.4 1.3 0.8
Allowance for Equity Funds Used During Construction 28.8 15.8 40.1 30.7
Interest Expense (21.4) (20.6) (43.1) (40.9)
INCOME BEFORE INCOME TAX EXPENSE AND EQUITY EARNINGS 169.0 106.1 300.9 212.2
Income Tax Expense (Benefit) 33.0 24.1 60.6 46.1
Net Income (Loss) 136.0 82.0 240.3 166.1
AEP Transmission Co [Member] | Transmission [Member]        
Revenues        
Revenue from Contracts with Customers 57.8 55.4 108.1 86.3
AEP Transmission Co [Member] | Other Revenues [Member]        
Revenues        
Revenue from Contracts with Customers 0.0 0.0 0.0 0.1
TOTAL REVENUES 0.0 [9] 0.0 [10],[17] 0.0 [11] 0.0 [12],[18]
AEP Transmission Co [Member] | Fuel and Other Consumables Used for Electric Generation [Member]        
Revenues        
Revenue from Contracts with Customers 0.0 [13] 0.0 [14],[17] 0.0 [15] 0.0 [16],[18]
Appalachian Power Co [Member]        
Revenues        
Sales to AEP Affiliates 46.3 46.4 98.0 95.8
TOTAL REVENUES 655.8 667.0 1,448.6 1,487.4
Expenses        
Other Operation 138.9 109.9 275.8 248.1
Maintenance 61.3 65.7 122.8 137.7
Depreciation and Amortization 117.1 105.3 229.6 213.8
Taxes Other Than Income Taxes 35.9 33.7 71.8 67.5
TOTAL EXPENSES 578.9 534.4 1,219.6 1,161.8
OPERATING INCOME (LOSS) 76.9 132.6 229.0 325.6
Other Income (Expense):        
Interest Income 1.0 0.6 1.8 0.9
Carrying Costs Income 0.0 0.5 0.0 1.0
Allowance for Equity Funds Used During Construction 6.0 2.9 7.7 5.5
Non-Service Cost Components of Net Periodic Benefit Cost 4.2 4.4 8.5 8.9
Interest Expense (51.6) (47.8) (100.9) (95.2)
INCOME BEFORE INCOME TAX EXPENSE AND EQUITY EARNINGS 36.5 93.2 146.1 246.7
Income Tax Expense (Benefit) (19.0) 15.8 (43.1) 43.8
Net Income (Loss) 55.5 77.4 189.2 202.9
Appalachian Power Co [Member] | Vertically Integrated Utilities [Member]        
Revenues        
Revenue from Contracts with Customers 605.9 618.8 1,344.6 1,386.3
Appalachian Power Co [Member] | Other Revenues [Member]        
Revenues        
Revenue from Contracts with Customers 3.6 1.8 6.0 5.3
TOTAL REVENUES 0.0 [9] 0.0 [10] 0.0 [11] 0.0 [12]
Appalachian Power Co [Member] | Fuel and Other Consumables Used for Electric Generation [Member]        
Revenues        
Revenue from Contracts with Customers 62.2 [13] 56.8 [14] 129.7 [15] 119.6 [16]
Sales to AEP Affiliates 30.0 29.0 64.0 69.0
Expenses        
Cost of Goods and Services Sold 161.2 155.3 344.5 224.3
Appalachian Power Co [Member] | Purchased Electricity for Resale [Member]        
Expenses        
Cost of Goods and Services Sold 64.5 64.5 175.1 270.4
Indiana Michigan Power Co [Member]        
Revenues        
Sales to AEP Affiliates 2.3 10.8 4.6 15.5
Other Revenues - Affiliated 20.9 16.4 34.2 29.6
TOTAL REVENUES 543.1 589.7 1,157.4 1,166.5
Expenses        
Purchased Electricity from AEP Affiliates 51.3 60.4 111.1 121.8
Other Operation 154.5 130.4 295.0 276.5
Maintenance 54.6 57.4 112.9 111.9
Depreciation and Amortization 87.3 62.6 173.5 121.9
Taxes Other Than Income Taxes 26.2 24.9 53.5 49.9
TOTAL EXPENSES 465.2 472.3 964.5 951.7
OPERATING INCOME (LOSS) 77.9 117.4 192.9 214.8
Other Income (Expense):        
Carrying Costs Income     (1.4) 4.0
Other Income 6.1 4.9 11.8 9.3
Allowance for Equity Funds Used During Construction     12.5 4.1
Non-Service Cost Components of Net Periodic Benefit Cost 4.4 4.5 8.8 9.0
Interest Expense (28.2) (31.4) (57.1) (61.1)
INCOME BEFORE INCOME TAX EXPENSE AND EQUITY EARNINGS 60.2 95.4 156.4 172.0
Income Tax Expense (Benefit) (0.1) 0.7 (2.8) 13.1
Net Income (Loss) 60.3 94.7 159.2 158.9
Indiana Michigan Power Co [Member] | Vertically Integrated Utilities [Member]        
Revenues        
Revenue from Contracts with Customers 517.4 560.1 1,114.1 1,114.0
Indiana Michigan Power Co [Member] | Other Revenues [Member]        
Revenues        
Revenue from Contracts with Customers 2.5 2.4 4.5 7.4
Sales to AEP Affiliates 23.0 26.0 38.0 41.0
TOTAL REVENUES 0.0 [9] (14.2) [10] 0.0 [11] (8.7) [12]
Indiana Michigan Power Co [Member] | Fuel and Other Consumables Used for Electric Generation [Member]        
Revenues        
Revenue from Contracts with Customers 113.4 [13] 142.1 [14] 225.3 [15] 256.1 [16]
Expenses        
Cost of Goods and Services Sold 42.4 73.4 100.0 150.9
Indiana Michigan Power Co [Member] | Purchased Electricity for Resale [Member]        
Expenses        
Cost of Goods and Services Sold 48.9 63.2 118.5 118.8
Ohio Power Co [Member]        
Revenues        
Sales to AEP Affiliates 1.7 11.5 9.2 14.6
TOTAL REVENUES 606.6 748.8 1,443.4 1,539.7
Expenses        
Purchased Electricity from AEP Affiliates 33.7 27.9 79.8 58.1
Amortization of Generation Deferrals 24.1 56.4 56.5 115.0
Other Operation 153.9 199.0 370.8 371.2
Maintenance 34.2 34.1 66.7 71.3
Depreciation and Amortization 56.1 65.1 119.4 129.9
Taxes Other Than Income Taxes 106.0 99.0 214.9 204.1
TOTAL EXPENSES 529.5 644.4 1,203.8 1,318.0
OPERATING INCOME (LOSS) 77.1 104.4 239.6 221.7
Other Income (Expense):        
Interest Income 1.1 0.9 1.9 1.8
Carrying Costs Income 0.2 0.6 0.4 1.3
Allowance for Equity Funds Used During Construction 4.1 3.3 9.3 5.8
Non-Service Cost Components of Net Periodic Benefit Cost 3.6 3.9 7.3 7.8
Interest Expense (25.6) (25.3) (50.2) (50.5)
INCOME BEFORE INCOME TAX EXPENSE AND EQUITY EARNINGS 60.5 87.8 208.3 187.9
Income Tax Expense (Benefit) 9.9 19.0 29.7 39.5
Net Income (Loss) 50.6 68.8 178.6 148.4
Ohio Power Co [Member] | Transmission and Distribution Utilities [Member]        
Revenues        
Revenue from Contracts with Customers 602.3 735.9 1,428.8 1,522.2
Ohio Power Co [Member] | Other Revenues [Member]        
Revenues        
Revenue from Contracts with Customers 2.6 1.4 5.4 2.9
TOTAL REVENUES 1.5 [9] 4.1 [10] 6.6 [11] 8.0 [12]
Ohio Power Co [Member] | Fuel and Other Consumables Used for Electric Generation [Member]        
Revenues        
Revenue from Contracts with Customers 0.0 [13] 0.0 [14] 0.0 [15] 0.0 [16]
Ohio Power Co [Member] | Purchased Electricity for Resale [Member]        
Expenses        
Cost of Goods and Services Sold 121.5 162.9 295.7 368.4
Public Service Co Of Oklahoma [Member]        
Revenues        
Sales to AEP Affiliates 2.1 1.5 3.7 2.6
TOTAL REVENUES 348.1 398.3 680.9 735.1
Expenses        
Other Operation 64.8 93.7 138.4 180.5
Maintenance 26.1 24.0 48.6 50.9
Depreciation and Amortization 42.8 41.4 86.3 78.2
Taxes Other Than Income Taxes 10.5 10.2 21.9 21.8
TOTAL EXPENSES 291.5 341.1 603.4 674.0
OPERATING INCOME (LOSS) 56.6 57.2 77.5 61.1
Other Income (Expense):        
Other Income 0.8 (0.1) 0.9 (0.1)
Allowance for Equity Funds Used During Construction     0.7 (0.1)
Non-Service Cost Components of Net Periodic Benefit Cost 2.1 2.2 4.2 4.4
Interest Expense (17.3) (16.3) (34.2) (31.0)
INCOME BEFORE INCOME TAX EXPENSE AND EQUITY EARNINGS 42.2 43.0 48.4 34.4
Income Tax Expense (Benefit) 0.3 6.4 0.3 5.0
Net Income (Loss) 41.9 36.6 48.1 29.4
Public Service Co Of Oklahoma [Member] | Vertically Integrated Utilities [Member]        
Revenues        
Revenue from Contracts with Customers 344.6 395.3 673.8 730.4
Public Service Co Of Oklahoma [Member] | Other Revenues [Member]        
Revenues        
Revenue from Contracts with Customers 1.4 1.5 3.4 2.1
TOTAL REVENUES 0.0 [9] 0.0 [10] 0.0 [11] 0.0 [12]
Public Service Co Of Oklahoma [Member] | Fuel and Other Consumables Used for Electric Generation [Member]        
Revenues        
Revenue from Contracts with Customers 5.8 [13] 8.3 [14] 14.4 [15] 14.2 [16]
Expenses        
Cost of Goods and Services Sold 44.8 58.7 82.8 107.1
Public Service Co Of Oklahoma [Member] | Purchased Electricity for Resale [Member]        
Expenses        
Cost of Goods and Services Sold 102.5 113.1 225.4 235.5
Southwestern Electric Power Co [Member]        
Revenues        
Sales to AEP Affiliates 6.4 5.4 12.8 11.5
Provision for Refund (25.2) 0.0 (25.2) 0.0
TOTAL REVENUES 375.5 457.1 796.6 876.5
Expenses        
Other Operation 65.9 98.0 150.5 192.9
Maintenance 39.3 37.6 68.2 68.6
Depreciation and Amortization 61.8 58.6 123.9 116.0
Taxes Other Than Income Taxes 24.5 24.5 49.8 49.5
TOTAL EXPENSES 342.5 386.6 709.5 764.4
OPERATING INCOME (LOSS) 33.0 70.5 87.1 112.1
Other Income (Expense):        
Interest Income 0.7 0.6 1.4 2.4
Allowance for Equity Funds Used During Construction 1.1 0.9 2.9 3.2
Non-Service Cost Components of Net Periodic Benefit Cost 2.2 2.3 4.3 4.6
Interest Expense (30.5) (30.9) (60.2) (63.1)
INCOME BEFORE INCOME TAX EXPENSE AND EQUITY EARNINGS 6.5 43.4 35.5 59.2
Income Tax Expense (Benefit) 0.0 5.4 0.7 8.3
Equity Earnings (Loss) of Unconsolidated Subsidiaries 0.8 0.7 1.5 1.2
Net Income (Loss) 7.3 38.7 36.3 52.1
Net Income (Loss) Attributable to Noncontrolling Interests 1.1 1.1 2.3 2.7
Earnings Attributable to Common Shareholders 6.2 37.6 34.0 49.4
Southwestern Electric Power Co [Member] | Vertically Integrated Utilities [Member]        
Revenues        
Revenue from Contracts with Customers 394.0 451.4 808.3 864.4
Southwestern Electric Power Co [Member] | Other Revenues [Member]        
Revenues        
Revenue from Contracts with Customers 0.3 0.3 0.7 0.6
TOTAL REVENUES 0.0 [9] 0.0 [10] 0.0 [11] 0.0 [12]
Southwestern Electric Power Co [Member] | Fuel and Other Consumables Used for Electric Generation [Member]        
Revenues        
Revenue from Contracts with Customers 44.8 [13] 55.7 [14] 102.0 [15] 115.6 [16]
Expenses        
Cost of Goods and Services Sold 117.9 114.5 251.4 241.3
Southwestern Electric Power Co [Member] | Purchased Electricity for Resale [Member]        
Expenses        
Cost of Goods and Services Sold $ 33.1 $ 53.4 $ 65.7 $ 96.1
[1]
Amounts include affiliated and nonaffiliated revenues.
[2]
Amounts include affiliated and nonaffiliated revenues.
[3]
Amounts include affiliated and nonaffiliated revenues.
[4]
Amounts include affiliated and nonaffiliated revenues.
[5]
Amounts include affiliated and nonaffiliated revenues. The affiliated revenue for Generation & Marketing is $34 million. The remaining affiliated amounts are immaterial.
[6]
Amounts include affiliated and nonaffiliated revenues. The affiliated revenue for Generation & Marketing is $25 million. The remaining affiliated amounts are immaterial.
[7]
Amounts include affiliated and nonaffiliated revenues. The affiliated revenue for Generation & Marketing is $71 million. The remaining affiliated amounts are immaterial.
[8] Amounts include affiliated and nonaffiliated revenues. The affiliated revenue for Generation & Marketing is $52 million. The remaining affiliated amounts are immaterial
[9]
Amounts include affiliated and nonaffiliated revenues.
[10]
Amounts include affiliated and nonaffiliated revenues.
[11]
Amounts include affiliated and nonaffiliated revenues.
[12]
Amounts include affiliated and nonaffiliated revenues.
[13]
Amounts include affiliated and nonaffiliated revenues. The affiliated revenue for APCo is $30 million primarily relating to the PPA with Kingsport. The remaining affiliated amounts are immaterial.
[14]
Amounts include affiliated and nonaffiliated revenues. The affiliated revenue for APCo is $29 million primarily relating to the PPA with Kingsport. The remaining affiliated amounts are immaterial.
[15]
Amounts include affiliated and nonaffiliated revenues. The affiliated revenue for APCo is $64 million primarily relating to the PPA with Kingsport. The remaining affiliated amounts are immaterial.
[16]
Amounts include affiliated and nonaffiliated revenues. The affiliated revenue for APCo is $69 million primarily relating to the PPA with Kingsport. The remaining affiliated amounts are immaterial.
[17]
These amounts presented reflect the revisions made to AEPTCo’s previously issued financial statement. See the “revisions to Previously Issued Financial Statements” section of Note 1 for additional information.
[18]
The amounts presented reflect the revisions made to AEPTCo’s previously issued financial statements. For additional details on revisions made to AEPTCo’s financial statements, see Note 1- Significant Accounting Matters.