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Revenue from Contracts with Customers
 3 Months Ended
Mar. 31, 2021
Revenue from Contract with Customer
14. REVENUE FROM CONTRACTS WITH CUSTOMERS

The disclosures in this note apply to all Registrants, unless indicated otherwise.

Disaggregated Revenues from Contracts with Customers

The tables below represent AEP’s reportable segment revenues from contracts with customers, net of respective provisions for refund, by type of revenue:
Three Months Ended March 31, 2022
Vertically Integrated UtilitiesTransmission and Distribution UtilitiesAEP Transmission HoldcoGeneration & MarketingCorporate and OtherReconciling AdjustmentsAEP Consolidated
(in millions)
Retail Revenues:
Residential Revenues$1,150.8 $600.6 $— $— $— $— $1,751.4 
Commercial Revenues572.9 289.7 — — — — 862.6 
Industrial Revenues563.0 133.3 — — — (0.4)695.9 
Other Retail Revenues47.4 11.6 — — — — 59.0 
Total Retail Revenues2,334.1 1,035.2 — — — (0.4)3,368.9 
Wholesale and Competitive Retail Revenues:
Generation Revenues 187.2 — — 40.3 — — 227.5 
Transmission Revenues (a)105.3 154.9 414.5 — — (361.8)312.9 
Renewable Generation Revenues (b)— — — 22.4 — (0.8)21.6 
Retail, Trading and Marketing Revenues (c)— — — 388.8 3.2 (9.0)383.0 
Total Wholesale and Competitive Retail Revenues
292.5 154.9 414.5 451.5 3.2 (371.6)945.0 
Other Revenues from Contracts with Customers (b)61.6 53.8 (0.2)8.6 13.9 (18.6)119.1 
Total Revenues from Contracts with Customers
2,688.2 1,243.9 414.3 460.1 17.1 (390.6)4,433.0 
Other Revenues:
Alternative Revenues (b)(0.8)(3.4)(2.9)— — 1.3 (5.8)
Other Revenues (b) (d)— 6.3 — 159.2 2.8 (2.9)165.4 
Total Other Revenues(0.8)2.9 (2.9)159.2 2.8 (1.6)159.6 
Total Revenues$2,687.4 $1,246.8 $411.4 $619.3 $19.9 $(392.2)$4,592.6 

(a)Amounts include affiliated and nonaffiliated revenues. The affiliated revenue for AEP Transmission Holdco was $327 million. The remaining affiliated amounts were immaterial.
(b)Amounts include affiliated and nonaffiliated revenues.
(c)Amounts include affiliated and nonaffiliated revenues. The affiliated revenue for Generation & Marketing was $9 million. The remaining affiliated amounts were immaterial.
(d)Generation & Marketing includes economic hedge activity.
Three Months Ended March 31, 2021
Vertically Integrated UtilitiesTransmission and Distribution UtilitiesAEP Transmission HoldcoGeneration & MarketingCorporate and OtherReconciling AdjustmentsAEP Consolidated
(in millions)
Retail Revenues:
Residential Revenues$1,046.1 $548.1 $— $— $— $— $1,594.2 
Commercial Revenues486.2 239.2 — — — — 725.4 
Industrial Revenues484.0 85.7 — — — (0.2)569.5 
Other Retail Revenues37.8 10.0 — — — — 47.8 
Total Retail Revenues2,054.1 883.0 — — — (0.2)2,936.9 
Wholesale and Competitive Retail Revenues:
Generation Revenues 352.6 — — 40.5 — — 393.1 
Transmission Revenues (a)89.0 130.5 360.4 — — (299.3)280.6 
Renewable Generation Revenues (b)— — — 22.4 — (0.7)21.7 
Retail, Trading and Marketing Revenues (c)
— — — 569.8 1.2 (31.8)539.2 
Total Wholesale and Competitive Retail Revenues
441.6 130.5 360.4 632.7 1.2 (331.8)1,234.6 
Other Revenues from Contracts with Customers (b)42.3 52.1 4.6 1.5 8.6 (21.2)87.9 
Total Revenues from Contracts with Customers
2,538.0 1,065.6 365.0 634.2 9.8 (353.2)4,259.4 
Other Revenues:
Alternative Revenues (b)(0.7)17.2 12.0 — — (11.6)16.9 
Other Revenues (b)— 5.3 — — 3.1 (3.6)4.8 
Total Other Revenues(0.7)22.5 12.0 — 3.1 (15.2)21.7 
Total Revenues$2,537.3 $1,088.1 $377.0 $634.2 $12.9 $(368.4)$4,281.1 

(a)Amounts include affiliated and nonaffiliated revenues. The affiliated revenue for AEP Transmission Holdco was $273 million. The remaining affiliated amounts were immaterial.
(b)Amounts include affiliated and nonaffiliated revenues.
(c)Amounts include affiliated and nonaffiliated revenues. The affiliated revenue for Generation & Marketing was $32 million. The remaining affiliated amounts were immaterial.
Three Months Ended March 31, 2022
AEP TexasAEPTCoAPCoI&MOPCoPSOSWEPCo
(in millions)
Retail Revenues:
Residential Revenues$141.9 $— $458.0 $231.8 $458.7 $165.9 $175.9 
Commercial Revenues94.9 — 153.9 126.6 194.7 97.5 130.5 
Industrial Revenues30.6 — 153.8 136.5 102.7 78.6 84.7 
Other Retail Revenues8.2 — 20.6 1.3 3.3 21.2 2.4 
Total Retail Revenues275.6 — 786.3 496.2 759.4 363.2 393.5 
Wholesale Revenues:
Generation Revenues (a)— — 56.2 90.4 — 9.5 61.2 
Transmission Revenues (b)133.1 400.3 41.1 8.8 21.8 9.6 35.2 
Total Wholesale Revenues133.1 400.3 97.3 99.2 21.8 19.1 96.4 
Other Revenues from Contracts with Customers (c)
9.3 (0.3)24.3 29.9 44.6 5.4 5.3 
Total Revenues from Contracts with Customers
418.0 400.0 907.9 625.3 825.8 387.7 495.2 
Other Revenues:
Alternative Revenues (d)(1.3)0.4 (0.7)— (2.1)(0.1)(0.4)
Other Revenues (d)— — 0.1 (0.1)6.3 — — 
Total Other Revenues(1.3)0.4 (0.6)(0.1)4.2 (0.1)(0.4)
Total Revenues$416.7 $400.4 $907.3 $625.2 $830.0 $387.6 $494.8 

(a)Amounts include affiliated and nonaffiliated revenues. The affiliated revenue for APCo was $36 million primarily related to the PPA with KGPCo.
(b)Amounts include affiliated and nonaffiliated revenues. The affiliated revenue for AEPTCo was $323 million. The remaining affiliated amounts were immaterial.
(c)Amounts include affiliated and nonaffiliated revenues. The affiliated revenue for I&M was $10 million primarily related to barging, urea transloading and other transportation services. The remaining affiliated amounts were immaterial.
(d)Amounts include affiliated and nonaffiliated revenues.
Three Months Ended March 31, 2021
AEP TexasAEPTCoAPCoI&MOPCoPSOSWEPCo
(in millions)
Retail Revenues:
Residential Revenues$122.7 $— $416.9 $213.6 $425.3 $136.8 $166.3 
Commercial Revenues80.7 — 130.2 113.6 158.5 72.7 112.9 
Industrial Revenues26.5 — 130.9 128.4 59.2 56.4 70.6 
Other Retail Revenues6.8 — 16.9 1.4 3.2 15.7 2.3 
Total Retail Revenues236.7 — 694.9 457.0 646.2 281.6 352.1 
Wholesale Revenues:
Generation Revenues (a)— — 72.4 79.6 — (7.1)228.6 
Transmission Revenues (b)112.0 345.2 34.2 8.3 18.5 9.4 28.9 
Total Wholesale Revenues112.0 345.2 106.6 87.9 18.5 2.3 257.5 
Other Revenues from Contracts with Customers (c)
16.2 4.6 13.1 20.7 36.0 12.6 6.4 
Total Revenues from Contracts with Customers
364.9 349.8 814.6 565.6 700.7 296.5 616.0 
Other Revenues:
Alternative Revenues (d)(0.7)11.9 2.2 (1.1)17.9 (0.4)0.1 
Other Revenues (d)— — 0.2 — 5.3 — — 
Total Other Revenues(0.7)11.9 2.4 (1.1)23.2 (0.4)0.1 
Total Revenues$364.2 $361.7 $817.0 $564.5 $723.9 $296.1 $616.1 

(a)Amounts include affiliated and nonaffiliated revenues. The affiliated revenue for APCo was $32 million primarily related to the PPA with KGPCo. The remaining affiliated amounts were immaterial.
(b)Amounts include affiliated and nonaffiliated revenues. The affiliated revenue for AEPTCo was $270 million. The remaining affiliated amounts were immaterial.
(c)Amounts include affiliated and nonaffiliated revenues. The affiliated revenue for I&M was $16 million primarily related to barging, urea transloading and other transportation services. The remaining affiliated amounts were immaterial.
(d)Amounts include affiliated and nonaffiliated revenues.
Fixed Performance Obligations

The following table represents the Registrants’ remaining fixed performance obligations satisfied over time as of March 31, 2022. Fixed performance obligations primarily include wholesale transmission services, electricity sales for fixed amounts of energy and stand ready services into PJM’s RPM market. The Registrant Subsidiaries amounts shown in the table below include affiliated and nonaffiliated revenues.
Company20222023-20242025-2026After 2026Total
(in millions)
AEP$926.3 $164.7 $157.8 $102.1 $1,350.9 
AEP Texas410.0 — — — 410.0 
AEPTCo1,104.2 — — — 1,104.2 
APCo147.8 32.2 24.3 11.6 215.9 
I&M24.9 8.8 8.8 4.5 47.0 
OPCo55.4 — — — 55.4 
PSO8.4 — — — 8.4 
SWEPCo31.5 — — — 31.5 

Contract Assets and Liabilities

Contract assets are recognized when the Registrants have a right to consideration that is conditional upon the occurrence of an event other than the passage of time, such as future performance under a contract. The Registrants did not have material contract assets as of March 31, 2022 and December 31, 2021.

When the Registrants receive consideration, or such consideration is unconditionally due from a customer prior to transferring goods or services to the customer under the terms of a sales contract, they recognize a contract liability on the balance sheets in the amount of that consideration. Revenue for such consideration is subsequently recognized in the period or periods in which the remaining performance obligations in the contract are satisfied. The Registrants’ contract liabilities typically arise from services provided under joint use agreements for utility poles. The Registrants did not have material contract liabilities as of March 31, 2022 and December 31, 2021.

Accounts Receivable from Contracts with Customers

Accounts receivable from contracts with customers are presented on the Registrant Subsidiaries’ balance sheets within the Accounts Receivable - Customers line item. The Registrant Subsidiaries’ balances for receivables from contracts that are not recognized in accordance with the accounting guidance for “Revenue from Contracts with Customers” included in Accounts Receivable - Customers were not material as of March 31, 2022 and December 31, 2021. See “Securitized Accounts Receivable - AEP Credit” section of Note 12 for additional information.

The following table represents the amount of affiliated accounts receivable from contracts with customers included in Accounts Receivable - Affiliated Companies on the Registrant Subsidiaries’ balance sheets:
CompanyMarch 31, 2022December 31, 2021
(in millions)
AEP Texas$0.7 $0.4 
AEPTCo110.5 95.5 
APCo60.9 117.8 
I&M37.3 61.2 
OPCo53.6 51.7 
PSO13.9 18.8 
SWEPCo19.5 24.7