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Benefit Plans
 9 Months Ended
Sep. 30, 2023
Benefit Plans BENEFIT PLANS
The disclosures in this note apply to all Registrants except AEPTCo.

AEP sponsors a qualified pension plan and two unfunded nonqualified pension plans.  Substantially all AEP employees are covered by the qualified plan or both the qualified and a nonqualified pension plan.  AEP also sponsors OPEB plans to provide health and life insurance benefits for retired employees.

Components of Net Periodic Benefit Cost (Credit)

Pension Plans

Three Months Ended September 30, 2023AEPAEP TexasAPCoI&MOPCoPSOSWEPCo
(in millions)
Service Cost$23.6 $2.1 $2.3 $2.9 $2.1 $1.4 $2.0 
Interest Cost54.8 4.5 6.6 6.3 5.0 2.7 3.4 
Expected Return on Plan Assets(84.8)(7.0)(11.2)(11.0)(8.6)(4.6)(4.8)
Amortization of Net Actuarial Loss0.3 — — — — — — 
Net Periodic Benefit Cost (Credit)$(6.1)$(0.4)$(2.3)$(1.8)$(1.5)$(0.5)$0.6 

Three Months Ended September 30, 2022AEPAEP TexasAPCoI&MOPCoPSOSWEPCo
(in millions)
Service Cost$30.7 $2.8 $2.9 $4.0 $2.8 $1.8 $2.7 
Interest Cost37.1 3.1 4.3 4.3 3.4 1.8 2.2 
Expected Return on Plan Assets(63.4)(5.3)(8.1)(8.1)(6.2)(3.3)(3.6)
Amortization of Net Actuarial Loss15.8 1.2 1.9 1.8 1.3 0.7 0.9 
Net Periodic Benefit Cost $20.2 $1.8 $1.0 $2.0 $1.3 $1.0 $2.2 

Nine Months Ended September 30, 2023AEPAEP TexasAPCoI&MOPCoPSOSWEPCo
(in millions)
Service Cost$70.8 $6.2 $6.8 $8.9 $6.3 $4.2 $5.8 
Interest Cost164.4 13.7 19.8 18.7 14.9 8.1 10.4 
Expected Return on Plan Assets(254.4)(21.0)(33.5)(33.1)(25.6)(13.8)(14.5)
Amortization of Net Actuarial Loss1.0 — — — — — — 
Net Periodic Benefit Cost (Credit)$(18.2)$(1.1)$(6.9)$(5.5)$(4.4)$(1.5)$1.7 

Nine Months Ended September 30, 2022AEPAEP TexasAPCoI&MOPCoPSOSWEPCo
(in millions)
Service Cost$92.3 $8.4 $8.6 $12.1 $8.4 $5.5 $8.0 
Interest Cost111.2 9.1 13.1 12.7 10.0 5.3 6.8 
Expected Return on Plan Assets(190.1)(15.8)(24.3)(24.2)(18.6)(10.1)(10.9)
Amortization of Net Actuarial Loss47.3 3.8 5.5 5.3 4.1 2.2 2.8 
Net Periodic Benefit Cost $60.7 $5.5 $2.9 $5.9 $3.9 $2.9 $6.7 
OPEB

Three Months Ended September 30, 2023AEPAEP TexasAPCoI&MOPCoPSOSWEPCo
(in millions)
Service Cost$1.1 $0.1 $0.1 $0.1 $0.1 $0.1 $— 
Interest Cost11.6 0.9 1.8 1.3 1.2 0.6 0.8 
Expected Return on Plan Assets(27.4)(2.2)(4.0)(3.3)(2.9)(1.5)(1.8)
Amortization of Prior Service Credit(15.8)(1.3)(2.3)(2.2)(1.6)(1.0)(1.3)
Amortization of Net Actuarial Loss3.7 0.3 0.6 0.5 0.4 0.2 0.3 
Net Periodic Benefit Credit$(26.8)$(2.2)$(3.8)$(3.6)$(2.8)$(1.6)$(2.0)

Three Months Ended September 30, 2022AEPAEP TexasAPCoI&MOPCoPSOSWEPCo
(in millions)
Service Cost$1.8 $0.1 $0.2 $0.2 $0.2 $0.2 $0.1 
Interest Cost7.3 0.6 1.2 0.8 0.7 0.4 0.5 
Expected Return on Plan Assets(27.5)(2.3)(4.1)(3.3)(3.0)(1.6)(1.8)
Amortization of Prior Service Credit(17.9)(1.5)(2.6)(2.4)(1.8)(1.1)(1.4)
Net Periodic Benefit Credit$(36.3)$(3.1)$(5.3)$(4.7)$(3.9)$(2.1)$(2.6)

Nine Months Ended September 30, 2023AEPAEP TexasAPCoI&MOPCoPSOSWEPCo
(in millions)
Service Cost$3.4 $0.3 $0.4 $0.5 $0.3 $0.2 $0.2 
Interest Cost34.7 2.7 5.5 4.0 3.5 1.8 2.2 
Expected Return on Plan Assets(82.2)(6.7)(12.0)(10.1)(8.8)(4.4)(5.4)
Amortization of Prior Service Credit(47.3)(4.0)(6.9)(6.5)(4.7)(3.0)(3.7)
Amortization of Net Actuarial Loss11.1 0.9 1.7 1.4 1.2 0.6 0.8 
Net Periodic Benefit Credit$(80.3)$(6.8)$(11.3)$(10.7)$(8.5)$(4.8)$(5.9)

Nine Months Ended September 30, 2022AEPAEP TexasAPCoI&MOPCoPSOSWEPCo
(in millions)
Service Cost$5.5 $0.3 $0.6 $0.7 $0.5 $0.4 $0.4 
Interest Cost21.9 1.7 3.5 2.5 2.2 1.1 1.4 
Expected Return on Plan Assets(82.5)(6.8)(12.2)(10.2)(8.9)(4.6)(5.5)
Amortization of Prior Service Credit(53.6)(4.5)(7.8)(7.3)(5.4)(3.3)(4.0)
Net Periodic Benefit Credit$(108.7)$(9.3)$(15.9)$(14.3)$(11.6)$(6.4)$(7.7)