| Commission | Registrants; | I.R.S. Employer | ||||||||||||||||||||||||||||||
| File Number | Address and Telephone Number | States of Incorporation | Identification Nos. | |||||||||||||||||||||||||||||
| 1-3525 | AMERICAN ELECTRIC POWER CO INC. | New York | 13-4922640 | |||||||||||||||||||||||||||||
| 333-221643 | AEP TEXAS INC. | Delaware | 51-0007707 | |||||||||||||||||||||||||||||
| 333-217143 | AEP TRANSMISSION COMPANY, LLC | Delaware | 46-1125168 | |||||||||||||||||||||||||||||
| 1-3457 | APPALACHIAN POWER COMPANY | Virginia | 54-0124790 | |||||||||||||||||||||||||||||
| 1-3570 | INDIANA MICHIGAN POWER COMPANY | Indiana | 35-0410455 | |||||||||||||||||||||||||||||
| 1-6543 | OHIO POWER COMPANY | Ohio | 31-4271000 | |||||||||||||||||||||||||||||
| 0-343 | PUBLIC SERVICE COMPANY OF OKLAHOMA | Oklahoma | 73-0410895 | |||||||||||||||||||||||||||||
| 1-3146 | SOUTHWESTERN ELECTRIC POWER COMPANY | Delaware | 72-0323455 | |||||||||||||||||||||||||||||
| 1 Riverside Plaza, | Columbus, | Ohio | 43215-2373 | |||||||||||||||||||||||||||||
| Telephone | (614) | 716-1000 | ||||||||||||||||||||||||||||||
| Registrant | Title of each class | Trading Symbol | Name of Each Exchange on Which Registered | |||||||||||||||||
| American Electric Power Company Inc. | Common Stock, $6.50 par value | AEP | The NASDAQ Stock Market LLC | |||||||||||||||||
| Indicate by check mark whether the registrants (1) have filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrants were required to file such reports), and (2) have been subject to such filing requirements for the past 90 days. | |||||||||||||||||
| Yes | x | No | ☐ | ||||||||||||||
| Indicate by check mark whether the registrants have submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrants were required to submit such files). | |||||||||||||||||
| Yes | x | No | ☐ | ||||||||||||||
| Indicate by check mark whether American Electric Power Company, Inc. is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act. | |||||||||||||||||||||||
| Large Accelerated filer | x | Accelerated filer | ☐ | Non-accelerated filer | ☐ | ||||||||||||||||||
| Smaller reporting company | ☐ | Emerging growth company | ☐ | ||||||||||||||||||||
| Indicate by check mark whether AEP Texas Inc., AEP Transmission Company, LLC, Appalachian Power Company, Indiana Michigan Power Company, Ohio Power Company, Public Service Company of Oklahoma and Southwestern Electric Power Company are large accelerated filers, accelerated filers, non-accelerated filers, smaller reporting companies, or emerging growth companies. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act. | |||||||||||||||||||||||
| Large Accelerated filer | ☐ | Accelerated filer | ☐ | Non-accelerated filer | x | ||||||||||||||||||
| Smaller reporting company | ☐ | Emerging growth company | ☐ | ||||||||||||||||||||
| If an emerging growth company, indicate by check mark if the registrants have elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. | |||||||||||||||||
| ☐ | |||||||||||||||||
| Indicate by check mark whether the registrants are shell companies (as defined in Rule 12b-2 of the Exchange Act). | Yes | ☐ | No | x | ||||||||||||||||
| Number of shares of common stock outstanding of the Registrants as of | |||||
| October 29, 2025 | |||||
| American Electric Power Company, Inc. | 535,265,602 | ||||
| ($6.50 par value) | |||||
| AEP Texas Inc. | 100 | ||||
| ($0.01 par value) | |||||
| AEP Transmission Company, LLC (a) | NA | ||||
| Appalachian Power Company | 13,499,500 | ||||
| (no par value) | |||||
| Indiana Michigan Power Company | 1,400,000 | ||||
| (no par value) | |||||
| Ohio Power Company | 27,952,473 | ||||
| (no par value) | |||||
| Public Service Company of Oklahoma | 9,013,000 | ||||
| ($15 par value) | |||||
| Southwestern Electric Power Company | 3,680 | ||||
| ($18 par value) | |||||
| AMERICAN ELECTRIC POWER COMPANY, INC. AND SUBSIDIARY COMPANIES | ||||||||||||||
| INDEX OF QUARTERLY REPORTS ON FORM 10-Q | ||||||||||||||
| September 30, 2025 | ||||||||||||||
| Page | ||||||||||||||
| Number | ||||||||||||||
| Glossary of Terms | ||||||||||||||
| Forward-Looking Information | ||||||||||||||
| Part I. FINANCIAL INFORMATION | ||||||||||||||
| Items 1, 2, 3 and 4 - Financial Statements, Management’s Discussion and Analysis of Financial Condition and Results of Operations, Quantitative and Qualitative Disclosures About Market Risk and Controls and Procedures: | ||||||||||||||
| American Electric Power Company, Inc. and Subsidiary Companies: | ||||||||||||||
| Management’s Discussion and Analysis of Financial Condition and Results of Operations | ||||||||||||||
| Condensed Consolidated Financial Statements | ||||||||||||||
| AEP Texas Inc. and Subsidiaries: | ||||||||||||||
| Management’s Narrative Discussion and Analysis of Results of Operations | ||||||||||||||
| Condensed Consolidated Financial Statements | ||||||||||||||
| AEP Transmission Company, LLC and Subsidiaries: | ||||||||||||||
| Management’s Narrative Discussion and Analysis of Results of Operations | ||||||||||||||
| Condensed Consolidated Financial Statements | ||||||||||||||
| Appalachian Power Company and Subsidiaries: | ||||||||||||||
| Management’s Narrative Discussion and Analysis of Results of Operations | ||||||||||||||
| Condensed Consolidated Financial Statements | ||||||||||||||
| Indiana Michigan Power Company and Subsidiaries: | ||||||||||||||
| Management’s Narrative Discussion and Analysis of Results of Operations | ||||||||||||||
| Condensed Consolidated Financial Statements | ||||||||||||||
| Ohio Power Company and Subsidiaries: | ||||||||||||||
| Management’s Narrative Discussion and Analysis of Results of Operations | ||||||||||||||
| Condensed Consolidated Financial Statements | ||||||||||||||
| Public Service Company of Oklahoma: | ||||||||||||||
| Management’s Narrative Discussion and Analysis of Results of Operations | ||||||||||||||
| Condensed Financial Statements | ||||||||||||||
| Southwestern Electric Power Company Consolidated: | ||||||||||||||
| Management’s Narrative Discussion and Analysis of Results of Operations | ||||||||||||||
| Condensed Consolidated Financial Statements | ||||||||||||||
| Index of Condensed Notes to Condensed Financial Statements of Registrants | ||||||||||||||
| Controls and Procedures | ||||||||||||||
| Part II. OTHER INFORMATION | ||||||||||||||
| Item 1. | Legal Proceedings | |||||||||||||
| Item 1A. | Risk Factors | |||||||||||||
| Item 2. | Unregistered Sales of Equity Securities and Use of Proceeds | |||||||||||||
| Item 3. | Defaults Upon Senior Securities | |||||||||||||
| Item 4. | Mine Safety Disclosures | |||||||||||||
| Item 5. | Other Information | |||||||||||||
| Item 6. | Exhibits | |||||||||||||
| SIGNATURE | ||||||||||||||
| This combined Form 10-Q is separately filed by American Electric Power Company, Inc., AEP Texas Inc., AEP Transmission Company, LLC, Appalachian Power Company, Indiana Michigan Power Company, Ohio Power Company, Public Service Company of Oklahoma and Southwestern Electric Power Company. Information contained herein relating to any individual registrant is filed by such registrant on its own behalf. Except for American Electric Power Company, Inc., each registrant makes no representation as to information relating to the other registrants. | ||||||||||||||
| Term | Meaning | |||||||
| AEGCo | AEP Generating Company, an AEP electric utility subsidiary. | |||||||
| AEP | American Electric Power Company, Inc., an investor-owned electric public utility holding company which includes American Electric Power Company, Inc. (Parent) and majority owned consolidated subsidiaries and consolidated affiliates. | |||||||
| AEP Credit | AEP Credit, Inc., a consolidated VIE of AEP which securitizes accounts receivable and accrued utility revenues for affiliated electric utility companies. | |||||||
| AEP East Companies | APCo, I&M, KGPCo, KPCo, OPCo and WPCo. | |||||||
| AEP Energy Supply, LLC | A nonregulated holding company for AEP’s competitive generation, wholesale and retail businesses, and a wholly-owned subsidiary of AEP. | |||||||
| AEP OnSite Partners | A division of AEP Energy Supply, LLC that builds, owns, operates and maintains customer solutions utilizing existing and emerging distributed technologies. | |||||||
| AEP Texas | AEP Texas Inc., an AEP electric utility subsidiary. AEP Texas engages in the transmission and distribution of electric power to retail customers in west, central and southern Texas. | |||||||
AEP Transmission Holdco / AEPTHCo | AEP Transmission Holding Company, LLC, a subsidiary of AEP, an intermediate holding company that owns transmission operations joint ventures and AEPTCo. | |||||||
| AEPEP | AEP Energy Partners, Inc., a subsidiary of AEP dedicated to wholesale marketing and trading, hedging activities, asset management and commercial and industrial sales in deregulated markets. | |||||||
| AEPSC | American Electric Power Service Corporation, an AEP service subsidiary providing management and professional services to AEP and its subsidiaries. | |||||||
| AEPTCo | AEP Transmission Company, LLC, a wholly-owned subsidiary of AEP Transmission Holdco, is an intermediate holding company that owns the State Transcos. | |||||||
| AEPTCo Parent | AEP Transmission Company, LLC, the holding company of Midwest Transmission Holdings and the State Transcos within the AEPTCo consolidation. | |||||||
| AFUDC | Allowance for Equity Funds Used During Construction. | |||||||
| AI | Artificial Intelligence. | |||||||
ALJ | Administrative Law Judge. | |||||||
| AOCI | Accumulated Other Comprehensive Income. | |||||||
| APCo | Appalachian Power Company, an AEP electric utility subsidiary. APCo engages in the generation, transmission and distribution of electric power to retail customers in the southwestern portion of Virginia and southern West Virginia. | |||||||
| Appalachian Consumer Rate Relief Funding | Appalachian Consumer Rate Relief Funding, LLC, a wholly-owned subsidiary of APCo and a consolidated VIE formed for the purpose of issuing and servicing securitization bonds related to the under-recovered ENEC deferral balance. | |||||||
| APSC | Arkansas Public Service Commission. | |||||||
| ARO | Asset Retirement Obligations. | |||||||
| ASU | Accounting Standards Update. | |||||||
| ATM | At-the-Market. | |||||||
| CAA | Clean Air Act. | |||||||
| CAMT | Corporate Alternative Minimum Tax. | |||||||
| CCN | Certificate of Convenience and Necessity. | |||||||
| CCR | Coal Combustion Residual. | |||||||
| CEO | Chief Executive Officer. | |||||||
CO2 | Carbon dioxide and other greenhouse gases. | |||||||
| CODM | Chief Operating Decision Maker. | |||||||
| Cook Plant | Donald C. Cook Nuclear Plant, a two-unit, 2,296 MW nuclear plant owned by I&M. | |||||||
| Term | Meaning | |||||||
| Cost Recovery Funding | KPCo Cost Recovery Funding, LLC, a wholly-owned subsidiary of KPCo and consolidated VIE formed for the purpose of issuing and servicing securitization bonds related to plant retirement costs, deferred storm costs, deferred purchased power expenses, under-recovered purchased power rider costs and issuance-related expenses. | |||||||
| CPCN | Certificate of Public Convenience and Necessity. | |||||||
| CSAPR | Cross-State Air Pollution Rule. | |||||||
| CWIP | Construction Work in Progress. | |||||||
| DCC Fuel | DCC Fuel XVI, DCC Fuel XVII, DCC Fuel XVIII, DCC Fuel XIX, DCC Fuel XX and DCC XXI consolidated VIEs formed for the purpose of acquiring, owning and leasing nuclear fuel to I&M. | |||||||
| DHLC | Dolet Hills Lignite Company, LLC, a wholly-owned lignite mining subsidiary of SWEPCo. DHLC is a non-consolidated VIE of SWEPCo. | |||||||
| Diversion | Diversion, acquired in December 2024, consists of 201 MWs of wind generation in Texas. | |||||||
| Eastern Region | AEP’s eastern service territory includes the areas where APCo, I&M, KGPCo, KPCo, OPCo and WPCo engage in the generation, transmission and distribution of electric power to customers. | |||||||
| EIS | Energy Insurance Services, Inc., a nonaffiliated captive insurance company and consolidated VIE of AEP. | |||||||
| ELG | Effluent Limitation Guidelines. | |||||||
| ENEC | Expanded Net Energy Cost. | |||||||
| ERCOT | Electric Reliability Council of Texas regional transmission organization. | |||||||
| ESA | Electric Service Agreement. | |||||||
| ESP | Electric Security Plans, a PUCO requirement for electric utilities to adjust their rates by filing with the PUCO. | |||||||
| ETR | Effective Tax Rate. | |||||||
| ETT | Electric Transmission Texas, LLC, an equity interest joint venture between AEP Transmission Holdco and Berkshire Hathaway Energy Company formed to own and operate electric transmission facilities in ERCOT. | |||||||
| Excess ADIT | Excess accumulated deferred income taxes. | |||||||
| FAC | Fuel Adjustment Clause. | |||||||
| FASB | Financial Accounting Standards Board. | |||||||
| Federal EPA | United States Environmental Protection Agency. | |||||||
| FERC | Federal Energy Regulatory Commission. | |||||||
| FGD | Flue Gas Desulfurization or Scrubbers. | |||||||
| FIP | Federal Implementation Plan. | |||||||
| FTR | Financial Transmission Right, a financial instrument that entitles the holder to receive compensation for certain congestion-related transmission charges that arise when the power grid is congested resulting in differences in locational prices. | |||||||
| GAAP | Generally Accepted Accounting Principles in the United States of America. | |||||||
| GHG | Greenhouse gas. | |||||||
| Gigawatt AI | Gigawatt AI Inc., an equity interest joint venture formed to build the AI-centric operating system for utilities. | |||||||
| G&M | Generation & Marketing. | |||||||
| I&M | Indiana Michigan Power Company, an AEP electric utility subsidiary. I&M engages in the generation, transmission and distribution of electric power to retail customers in northern and eastern Indiana and southwestern Michigan. | |||||||
| IMTCo | AEP Indiana Michigan Transmission Company, Inc. | |||||||
| IRP | Integrated Resource Plan. | |||||||
| IRS | Internal Revenue Service. | |||||||
| ITC | Investment Tax Credit. | |||||||
| Term | Meaning | |||||||
| IURC | Indiana Utility Regulatory Commission. | |||||||
| KGPCo | Kingsport Power Company, an AEP electric utility subsidiary. KGPCo provides electric service to retail customers in Kingsport, Tennessee and eight neighboring communities in northeastern Tennessee. | |||||||
| KPCo | Kentucky Power Company, an AEP electric utility subsidiary. KPCo engages in the generation, transmission and distribution of electric power to retail customers in eastern Kentucky. | |||||||
| KPSC | Kentucky Public Service Commission. | |||||||
| KWh | Kilowatt-hour. | |||||||
| LPSC | Louisiana Public Service Commission. | |||||||
| MATS | Mercury and Air Toxic Standards. | |||||||
| Midwest Transmission Holdings | Midwest Transmission Holdings, LLC, a subsidiary of AEPTCo Parent that owns all of the issued and outstanding stock of IMTCo and OHTCo. | |||||||
| MISO | Midcontinent Independent System Operator. | |||||||
| Mitchell Plant | A two unit, 1,560 MW coal-fired power plant located in Moundsville, West Virginia. The plant is jointly owned by KPCo and WPCo. | |||||||
| MMBtu | Million British Thermal Units. | |||||||
| MPSC | Michigan Public Service Commission. | |||||||
| MTM | Mark-to-Market. | |||||||
| MW | Megawatt. | |||||||
| MWh | Megawatt-hour. | |||||||
| NAAQS | National Ambient Air Quality Standards. | |||||||
| NCWF | North Central Wind Energy Facilities, a joint PSO and SWEPCo project, which includes three Oklahoma wind facilities totaling approximately 1,484 MWs of wind generation. | |||||||
| NMRD | New Mexico Renewable Development, LLC. | |||||||
| Nonutility Money Pool | Centralized funding mechanism AEP uses to meet the short-term cash requirements of certain nonutility subsidiaries. | |||||||
| NOLC | Net Operating Loss Carryforward. | |||||||
NOx | Nitrogen Oxide. | |||||||
| OATT | Open Access Transmission Tariff. | |||||||
| OCC | Corporation Commission of the State of Oklahoma. | |||||||
| ODEQ | Oklahoma Department of Environmental Quality. | |||||||
| OHTCo | AEP Ohio Transmission Company, Inc. | |||||||
| OPCo | Ohio Power Company, an AEP electric utility subsidiary. OPCo engages in the transmission and distribution of electric power to retail customers in Ohio. | |||||||
| OPEB | Other Postretirement Benefits. | |||||||
| OTC | Over-the-counter. | |||||||
| OVEC | Ohio Valley Electric Corporation, which is 43.47% owned by AEP. | |||||||
| Parent | American Electric Power Company, Inc., the equity owner of AEP subsidiaries within the AEP consolidation. | |||||||
| PATH-WV | PATH West Virginia Transmission Company, LLC, a joint venture-owned 50% by FirstEnergy and 50% by AEP. | |||||||
| PBA | Performance Based Accreditation. | |||||||
| PFD | Proposal for Decision. | |||||||
| PJM | Pennsylvania – New Jersey – Maryland regional transmission organization. | |||||||
| PLR | Private Letter Ruling. | |||||||
| PM | Particulate Matter. | |||||||
| PPA | Power Purchase Agreement. | |||||||
| Term | Meaning | |||||||
| PSA | Purchase and Sale Agreement. | |||||||
| PSO | Public Service Company of Oklahoma, an AEP electric utility subsidiary. PSO engages in the generation, transmission and distribution of electric power to retail customers in eastern and southwestern Oklahoma. | |||||||
| PTC | Production Tax Credit. | |||||||
| PUCO | Public Utilities Commission of Ohio. | |||||||
| PUCT | Public Utility Commission of Texas. | |||||||
| Registrant Subsidiaries | AEP subsidiaries which are SEC registrants: AEP Texas, AEPTCo, APCo, I&M, OPCo, PSO and SWEPCo. | |||||||
| Registrants | SEC registrants: AEP, AEP Texas, AEPTCo, APCo, I&M, OPCo, PSO and SWEPCo. | |||||||
| Restoration Funding | AEP Texas Restoration Funding, LLC, a wholly-owned subsidiary of AEP Texas and a consolidated VIE formed for the purpose of issuing and servicing securitization bonds related to storm restoration in Texas primarily caused by Hurricane Harvey. | |||||||
| Risk Management Contracts | Trading and non-trading derivatives, including those derivatives designated as cash flow and fair value hedges. | |||||||
| Rockport Plant | A generation plant, jointly owned by AEGCo and I&M, consisting of two 1,310 MW coal-fired generating units near Rockport, Indiana. | |||||||
| ROE | Return on Equity. | |||||||
| RPM | Reliability Pricing Model. | |||||||
| RTO | Regional Transmission Organization, responsible for moving electricity over large interstate areas. | |||||||
| Sabine | Sabine Mining Company, a lignite mining company that is a consolidated VIE for AEP and SWEPCo. | |||||||
| SEC | U.S. Securities and Exchange Commission. | |||||||
| SIP | State Implementation Plan. | |||||||
| SNF | Spent Nuclear Fuel. | |||||||
SO2 | Sulfur Dioxide. | |||||||
| SPP | Southwest Power Pool regional transmission organization. | |||||||
| SSO | Standard service offer. | |||||||
| State Transcos | AEPTCo’s seven wholly-owned, FERC regulated, transmission only electric utilities, which are geographically aligned with AEP’s existing utility operating companies. | |||||||
| Storm Recovery Funding | SWEPCo Storm Recovery Funding, LLC, a wholly-owned subsidiary of SWEPCo and consolidated VIE formed for the purpose of issuing and servicing securitization bonds related to storm restoration in Louisiana. | |||||||
| SWEPCo | Southwestern Electric Power Company, an AEP electric utility subsidiary. SWEPCo engages in the generation, transmission and distribution of electric power to retail customers in northeastern and panhandle of Texas, northwestern Louisiana and western Arkansas. | |||||||
| SWTCo | AEP Southwestern Transmission Company, Inc., a wholly-owned AEPTCo transmission subsidiary. | |||||||
| TA | Transmission Agreement, effective November 2010, among APCo, I&M, KGPCo, KPCo, OPCo and WPCo with AEPSC as agent. | |||||||
| Tax Reform | On December 22, 2017, President Trump signed into law legislation referred to as the “Tax Cuts and Jobs Act” (the TCJA). The TCJA includes significant changes to the Internal Revenue Code of 1986, including a reduction in the corporate federal income tax rate from 35% to 21% effective January 1, 2018. | |||||||
| T&D | Transmission and Distribution Utilities. | |||||||
| Transition Funding | AEP Texas Central Transition Funding III, LLC, a wholly-owned subsidiary of AEP Texas and consolidated VIE formed for the purpose of issuing and servicing securitization bonds related to restructuring legislation in Texas. | |||||||
| Transource Energy | Transource Energy, LLC, a consolidated VIE formed for the purpose of investing in utilities which develop, acquire, construct, own and operate transmission facilities in accordance with FERC-approved rates. Transource Energy is 86.5% owned by AEP. | |||||||
| Term | Meaning | |||||||
| Turk Plant | John W. Turk, Jr. Plant, a 650 MW coal-fired plant in Arkansas that is 73% owned by SWEPCo. | |||||||
| UPA | Unit Power Agreement. | |||||||
| Utility Money Pool | Centralized funding mechanism AEP uses to meet the short-term cash requirements of certain utility subsidiaries. | |||||||
| UTM | Unified Tracking Mechanism. | |||||||
| Valley Link | Valley Link Transmission Company, LLC, a holding company formed by Transource Energy, affiliates of Dominion Energy and FirstEnergy in 2024. | |||||||
| VIE | Variable Interest Entity. | |||||||
| Virginia SCC | Virginia State Corporation Commission. | |||||||
| VIU | Vertically Integrated Utilities. | |||||||
| Western Region | AEP’s western service territory includes the areas where AEP Texas, PSO and SWEPCo engage in the generation, transmission and distribution of electric power to customers. | |||||||
| WPCo | Wheeling Power Company, an AEP electric utility subsidiary. WPCo provides electric service to retail customers in northern West Virginia. | |||||||
| WVPSC | Public Service Commission of West Virginia. | |||||||
| • | Changes in economic conditions, electric market demand and demographic patterns in AEP service territories. | ||||
| • | The economic impact of increased global conflicts and trade tensions, and the adoption or expansion of economic sanctions, tariffs, trade restrictions or changes in trade policy. | ||||
| • | Inflationary or deflationary interest rate trends. | ||||
| • | New legislation adopted in the states in which we operate that alters the regulatory framework or that prevents the timely recovery of costs and investments. | ||||
| • | Volatility and disruptions in financial markets precipitated by any cause, including fiscal and monetary policy or instability in the banking industry; particularly developments affecting the availability or cost of capital to finance new capital projects and refinance existing debt. | ||||
| • | The availability and cost of funds to finance working capital and capital needs, particularly (a) if expected sources of capital such as proceeds from the sale of tax credits and anticipated securitizations do not materialize or do not materialize at the level anticipated, and (b) during periods when the time lag between incurring costs and recovery is long and the costs are material. | ||||
| • | Changing demand for electricity, including large load contractual commitments for interconnection. | ||||
| • | The risks and uncertainties associated with wildfires, including damages caused by wildfires, the extent of each Registrant’s liability in connection with wildfires, investigations and outcomes associated with legal proceedings, demands or similar actions, inability to recover wildfire costs through insurance or through rates and the impact on financial condition and the reputation of each Registrant. | ||||
| • | The impact of extreme weather conditions, natural disasters and catastrophic events such as storms, hurricanes, wildfires and drought conditions that pose significant risks including potential litigation and the inability to recover significant damages and restoration costs incurred. | ||||
| • | Limitations or restrictions on the amounts and types of insurance available to cover losses that might arise in connection with natural disasters, wildfires or operations. | ||||
| • | The cost of fuel and its transportation, the creditworthiness and performance of parties who supply and transport fuel and the cost of storing and disposing of used fuel, including coal ash and SNF. | ||||
| • | The availability of fuel and necessary generation capacity and the performance of generation plants. | ||||
| • | The ability to recover fuel and other energy costs through regulated or competitive electric rates. | ||||
| • | The ability to build or acquire generation (including from renewable sources), transmission lines and facilities (including the ability to obtain any necessary regulatory approvals and permits) to meet the demand for electricity at acceptable prices and terms, including favorable tax treatment, cost caps imposed by regulators and other operational commitments to regulatory commissions and customers for generation projects, to recover all related costs and to earn a reasonable return. | ||||
| • | The disruption of AEP’s business operations due to impacts of economic or market conditions, costs of compliance with potential government regulations, electricity usage, supply chain issues, customers, service providers, vendors and suppliers caused by pandemics, natural disasters or other events. | ||||
| • | Construction and development risks associated with the completion of the 2026-2030 capital investment plan, including shortages or delays in labor, materials, equipment or parts. | ||||
| • | Prolonged or recurring U.S. federal government shutdowns could adversely affect our operations, regulatory approvals, and financial performance and could cause volatility in the capital markets which may interrupt our access to capital. | ||||
| • | New legislation, litigation or government regulation, including changes to tax laws and regulations, oversight of nuclear generation, energy commodity trading and new or modified requirements related to emissions of sulfur, nitrogen, mercury, carbon, soot or PM and other substances that could impact the continued operation, cost recovery and/or profitability of generation plants and related assets. | ||||
| • | The impact of tax legislation or associated Department of Treasury guidance, including potential changes to existing tax incentives, on capital plans, results of operations, financial condition, cash flows or credit ratings. | ||||
| • | The risks before, during and after generation of electricity associated with the fuels used or the by-products and wastes of such fuels, including coal ash and SNF. | ||||
| • | Timing and resolution of pending and future rate cases, negotiations and other regulatory decisions, including rate or other recovery of new investments in generation, distribution and transmission service and environmental compliance. | ||||
| • | Resolution of litigation or regulatory proceedings or investigations. | ||||
| • | The ability to efficiently manage and recover operation, maintenance and development project costs. | ||||
| • | Prices and demand for power generated and sold at wholesale. | ||||
| • | Changes in technology, particularly with respect to energy storage and new, developing, alternative or distributed sources of generation. | ||||
| • | The ability to recover through rates any remaining unrecovered investment in generation units that may be retired before the end of their previously projected useful lives. | ||||
| • | Volatility and changes in markets for coal and other energy-related commodities, particularly changes in the price of natural gas. | ||||
| • | The impact of changing expectations and demands of customers, regulators, investors and stakeholders, including development, adoption, and use of artificial intelligence by us, our customers and our third party vendors and evolving expectations related to environmental, social and governance concerns. | ||||
| • | Changes in utility regulation and the allocation of costs within RTOs including ERCOT, PJM and SPP. | ||||
| • | Changes in the creditworthiness of the counterparties with contractual arrangements, including participants in the energy trading market. | ||||
| • | Actions of rating agencies, including changes in the ratings of debt. | ||||
| • | The impact of volatility in the capital markets on the value of the investments held by the pension, OPEB and nuclear decommissioning trust funds and a captive insurance entity and the impact of such volatility on future funding requirements. | ||||
| • | Accounting standards periodically issued by accounting standard-setting bodies. | ||||
| • | Other risks and unforeseen events, including wars and military conflicts, the effects of terrorism (including increased security costs), embargoes, cybersecurity threats, labor strikes impacting material supply chains, global information technology disruptions and other catastrophic events. | ||||
| • | The ability to attract and retain the requisite work force and key personnel. | ||||
| Three Months Ended September 30, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||
| AEP | AEP Texas | AEPTCo | APCo | I&M | OPCo | PSO | SWEPCo | |||||||||||||||||||||||||||||||||||||||||||
| (in millions) | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Reported GAAP Earnings | $ | 972.0 | $ | 166.7 | $ | 178.9 | $ | 81.1 | $ | 149.7 | $ | 100.9 | $ | 129.8 | $ | 189.2 | ||||||||||||||||||||||||||||||||||
| Adjustments to Reported GAAP Earnings (a): | ||||||||||||||||||||||||||||||||||||||||||||||||||
Mark-to-Market Impact of Commodity Hedging Activities (b) | (0.6) | — | — | — | (4.7) | — | — | — | ||||||||||||||||||||||||||||||||||||||||||
| Impact of Ohio Legislation (c) | (8.5) | — | — | — | — | (8.5) | — | — | ||||||||||||||||||||||||||||||||||||||||||
| Total Specified Items | (9.1) | — | — | — | (4.7) | (8.5) | — | — | ||||||||||||||||||||||||||||||||||||||||||
| Operating Earnings | $ | 962.9 | $ | 166.7 | $ | 178.9 | $ | 81.1 | $ | 145.0 | $ | 92.4 | $ | 129.8 | $ | 189.2 | ||||||||||||||||||||||||||||||||||
| Three Months Ended September 30, 2024 | ||||||||||||||||||||||||||||||||||||||||||||||||||
| AEP | AEP Texas | AEPTCo | APCo | I&M | OPCo | PSO | SWEPCo | |||||||||||||||||||||||||||||||||||||||||||
| (in millions) | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Reported GAAP Earnings | $ | 959.6 | $ | 132.5 | $ | 191.3 | $ | 109.8 | $ | 179.1 | $ | 112.7 | $ | 113.7 | $ | 139.1 | ||||||||||||||||||||||||||||||||||
| Adjustments to Reported GAAP Earnings (a): | ||||||||||||||||||||||||||||||||||||||||||||||||||
Mark-to-Market Impact of Commodity Hedging Activities (b) | 6.8 | — | — | — | 0.9 | — | — | — | ||||||||||||||||||||||||||||||||||||||||||
| SEC Matter Loss Contingency (d) | 19.0 | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||
| Total Specified Items | 25.8 | — | — | — | 0.9 | — | — | — | ||||||||||||||||||||||||||||||||||||||||||
| Operating Earnings | $ | 985.4 | $ | 132.5 | $ | 191.3 | $ | 109.8 | $ | 180.0 | $ | 112.7 | $ | 113.7 | $ | 139.1 | ||||||||||||||||||||||||||||||||||
| Nine Months Ended September 30, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||
| AEP | AEP Texas | AEPTCo | APCo | I&M | OPCo | PSO | SWEPCo | |||||||||||||||||||||||||||||||||||||||||||
| (in millions) | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Reported GAAP Earnings | $ | 2,998.0 | $ | 389.4 | $ | 946.2 | $ | 352.6 | $ | 331.3 | $ | 266.7 | $ | 221.0 | $ | 353.3 | ||||||||||||||||||||||||||||||||||
| Adjustments to Reported GAAP Earnings (a): | ||||||||||||||||||||||||||||||||||||||||||||||||||
Mark-to-Market Impact of Commodity Hedging Activities (b) | 5.4 | — | — | — | 11.5 | — | — | — | ||||||||||||||||||||||||||||||||||||||||||
Sale of AEP OnSite Partners (c) | 9.4 | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||
| Impact of Ohio Legislation (d) | 19.2 | — | — | — | — | 19.2 | — | — | ||||||||||||||||||||||||||||||||||||||||||
| FERC NOLC Order (e) | (480.1) | — | (353.9) | (28.9) | (35.6) | 0.2 | (4.0) | (54.1) | ||||||||||||||||||||||||||||||||||||||||||
| Total Specified Items | (446.1) | — | (353.9) | (28.9) | (24.1) | 19.4 | (4.0) | (54.1) | ||||||||||||||||||||||||||||||||||||||||||
| Operating Earnings | $ | 2,551.9 | $ | 389.4 | $ | 592.3 | $ | 323.7 | $ | 307.2 | $ | 286.1 | $ | 217.0 | $ | 299.2 | ||||||||||||||||||||||||||||||||||
| Nine Months Ended September 30, 2024 | ||||||||||||||||||||||||||||||||||||||||||||||||||
| AEP | AEP Texas | AEPTCo | APCo | I&M | OPCo | PSO | SWEPCo | |||||||||||||||||||||||||||||||||||||||||||
| (in millions) | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Reported GAAP Earnings | $ | 2,303.0 | $ | 340.6 | $ | 548.2 | $ | 304.6 | $ | 359.3 | $ | 201.7 | $ | 222.0 | $ | 277.1 | ||||||||||||||||||||||||||||||||||
| Adjustments to Reported GAAP Earnings (a): | ||||||||||||||||||||||||||||||||||||||||||||||||||
Mark-to-Market Impact of Commodity Hedging Activities (b) | (52.2) | — | — | — | 17.9 | — | — | — | ||||||||||||||||||||||||||||||||||||||||||
| Remeasurement of Excess ADIT Regulatory Liability (f) | (44.6) | — | — | — | (12.3) | — | — | (32.3) | ||||||||||||||||||||||||||||||||||||||||||
| Impact of NOLC on Retail Ratemaking (g) | (259.6) | — | — | — | (69.1) | — | (56.5) | (134.0) | ||||||||||||||||||||||||||||||||||||||||||
| Disallowance - Dolet Hills Power Station (h) | 11.1 | — | — | — | — | — | — | 11.1 | ||||||||||||||||||||||||||||||||||||||||||
| Provision for Refund - Turk Plant (i) | 126.4 | — | — | — | — | — | — | 126.4 | ||||||||||||||||||||||||||||||||||||||||||
| Pending Sale of AEP OnSite Partners (j) | 10.4 | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||
| Severance Charges (k) | 93.6 | 15.6 | 8.2 | 20.3 | 11.1 | 11.6 | 7.7 | 12.7 | ||||||||||||||||||||||||||||||||||||||||||
| Federal EPA CCR Rule (l) | 110.7 | — | — | — | 10.6 | 41.3 | — | — | ||||||||||||||||||||||||||||||||||||||||||
| SEC Matter Loss Contingency (m) | 19.0 | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||
| Total Specified Items | 14.8 | 15.6 | 8.2 | 20.3 | (41.8) | 52.9 | (48.8) | (16.1) | ||||||||||||||||||||||||||||||||||||||||||
| Operating Earnings | $ | 2,317.8 | $ | 356.2 | $ | 556.4 | $ | 324.9 | $ | 317.5 | $ | 254.6 | $ | 173.2 | $ | 261.0 | ||||||||||||||||||||||||||||||||||


| Company | Jurisdiction | Large Load Tariff | Status | Customer Eligibility | ||||||||||||||||||||||
| APCo | Virginia | Large Power Service | Pending | New load of 150 MWs or more/100 MWs for individual site | ||||||||||||||||||||||
| APCo | West Virginia | Large Capacity/Industrial Power | Approved | New load of 150 MWs or more/100 MWs for individual site | ||||||||||||||||||||||
| I&M | Indiana | Industrial Power | Approved | New load of 150 MWs or more/70 MWs for individual site | ||||||||||||||||||||||
| I&M | Michigan | Large Load | Pending | New load of 50 MWs or more | ||||||||||||||||||||||
| KPCo | Kentucky | Industrial General Service | Approved | New commercial or industrial load of 150 MWs or more | ||||||||||||||||||||||
| OPCo | Ohio | Data Center | Approved | New data center load of 25 MWs or more | ||||||||||||||||||||||
| SWEPCo | Texas | Electric Service Large Load | Pending | New load of 75 MWs or more | ||||||||||||||||||||||
| Plant Name | Fuel Type | Location | Acquisition Date | Generating Capacity | ||||||||||||||||||||||
| (in MWs) | ||||||||||||||||||||||||||
| Green Country | Natural Gas | Jenks, OK | June 2025 | 795 | ||||||||||||||||||||||
| Pixley | Solar | Barber County, KS | May 2025 | 189 | ||||||||||||||||||||||
| Flat Ridge IV | Wind | Kingman and Harper Counties, KS | June 2025 | 135 | ||||||||||||||||||||||
| Flat Ridge V | Wind | Kingman and Harper Counties, KS | August 2025 | 153 | ||||||||||||||||||||||
| Total | 1,272 | |||||||||||||||||||||||||
| Company | Issuance Date | Projected In-Service Dates | Generating Capacity | |||||||||||||||||
| (in MWs) | ||||||||||||||||||||
| PSO (a) | November 2023 | 2027/2028 | 1,500 | |||||||||||||||||
| I&M (b) | September 2024 | 2029 | 4,000 | |||||||||||||||||
| APCo (c) | May 2024 | 2028 | 1,100 | |||||||||||||||||
| APCo (d) | May 2025 | 2029 | 800 | |||||||||||||||||
| APCo (e) | May 2025 | 2029 | 300 | |||||||||||||||||
| Total Significant RFPs | 7,700 | |||||||||||||||||||
| I&M | PSO | SWEPCo | ||||||||||||||||||||||||||||||||||||
| Natural Gas | Wind | Natural Gas | Wind | Natural Gas | Wind | |||||||||||||||||||||||||||||||||
| Delivery Start Year | (in MWs) | |||||||||||||||||||||||||||||||||||||
| 2025 | — | — | 760 | 27 | 150 | 91 | ||||||||||||||||||||||||||||||||
| 2026 | 615 | 73 | 460 | 86 | 150 | 100 | ||||||||||||||||||||||||||||||||
| 2027 | 779 | — | 410 | 86 | 300 | 100 | ||||||||||||||||||||||||||||||||
| 2028 | 1,003 | — | 410 | — | 450 | — | ||||||||||||||||||||||||||||||||
| 2029 | 1,003 | — | 410 | — | 450 | — | ||||||||||||||||||||||||||||||||
| Annual | |||||||||||||||||||||||||||||
| Base Revenue | Approved | New Rates | |||||||||||||||||||||||||||
| Company | Jurisdiction | Increase | ROE | Effective | |||||||||||||||||||||||||
| (in millions) | |||||||||||||||||||||||||||||
| APCo/WPCo | West Virginia | $ | 76.1 | 9.25% | August 2025 | (a) | |||||||||||||||||||||||
| Annual | ||||||||||||||||||||||||||
| Filing | Base Revenue | Requested | ||||||||||||||||||||||||
| Company | Jurisdiction | Date | Increase Request | ROE | ||||||||||||||||||||||
| (in millions) | ||||||||||||||||||||||||||
| SWEPCo | Arkansas | March 2025 | $ | 114.0 | 10.9% | |||||||||||||||||||||
| OPCo | Ohio | May 2025 | 97.4 | 10.9% | ||||||||||||||||||||||
| KPCo | Kentucky | August 2025 | 95.6 | 10.0% | ||||||||||||||||||||||
| SWEPCo | Texas | October 2025 | 94.9 | 10.75% | ||||||||||||||||||||||
| Company | Increase (Decrease) in Pretax Income (a) | Decrease in Income Tax Expense (b) | Increase in Noncontrolling Interest (c) | Increase in Net Income | ||||||||||||||||||||||
| (in millions) | ||||||||||||||||||||||||||
| APCo | $ | 8.0 | $ | 21.4 | $ | — | $ | 29.4 | ||||||||||||||||||
| I&M | 16.8 | 27.8 | — | 44.6 | ||||||||||||||||||||||
| PSO | (12.4) | 15.6 | — | 3.2 | ||||||||||||||||||||||
| SWEPCo | 16.8 | 38.9 | — | 55.7 | ||||||||||||||||||||||
| AEPTCo | 214.3 | 203.2 | (55.2) | 362.3 | ||||||||||||||||||||||
| Other (d) | (2.1) | 5.9 | — | 3.8 | ||||||||||||||||||||||
| AEP Total | $ | 241.4 | $ | 312.8 | $ | (55.2) | $ | 499.0 | ||||||||||||||||||
| Company | Increase in Pretax Income from the Recognition of Regulatory Assets | Reduction in Income Tax Expense (a) | Increase in Net Income | |||||||||||||||||
| (in millions) | ||||||||||||||||||||
| I&M | $ | 20.2 | $ | 49.5 | $ | 69.7 | ||||||||||||||
| PSO | 12.1 | 44.7 | 56.8 | |||||||||||||||||
| SWEPCo | 35.4 | 101.1 | 136.5 | |||||||||||||||||
| AEP Total | $ | 67.7 | $ | 195.3 | $ | 263.0 | ||||||||||||||
| Company (a) | Jurisdiction | Status | ||||||||||||
| APCo | Virginia | Approved | ||||||||||||
| APCo/WPCo | West Virginia | (b) | Pending | |||||||||||
| I&M | Indiana | Approved | ||||||||||||
| I&M | Michigan | Approved | ||||||||||||
| KGPCo | Tennessee | Approved | ||||||||||||
| KPCo | Kentucky | (b) | Pending | |||||||||||
| PSO | Oklahoma | (b) | Approved, subject to refund | |||||||||||
| SWEPCo | Arkansas | (c) | Pending | |||||||||||
| SWEPCo | Louisiana | (b) | Pending | |||||||||||
| SWEPCo | Texas | Approved, subject to refund | ||||||||||||
| Three Months Ended | Nine Months Ended | ||||||||||||||||||||||
| September 30, | September 30, | ||||||||||||||||||||||
| 2025 | 2024 | 2025 | 2024 | ||||||||||||||||||||
| (in millions) | |||||||||||||||||||||||
| Vertically Integrated Utilities | $ | 578.2 | $ | 571.5 | $ | 1,335.0 | $ | 1,198.0 | |||||||||||||||
| Transmission and Distribution Utilities | 267.6 | 245.2 | 656.1 | 542.3 | |||||||||||||||||||
| AEP Transmission Holdco | 199.9 | 214.7 | 1,012.9 | 624.1 | |||||||||||||||||||
| Generation & Marketing | 44.3 | 93.3 | 208.8 | 226.1 | |||||||||||||||||||
| Corporate and Other | (118.0) | (165.1) | (214.8) | (287.5) | |||||||||||||||||||
| Earnings Attributable to AEP Common Shareholders | $ | 972.0 | $ | 959.6 | $ | 2,998.0 | $ | 2,303.0 | |||||||||||||||
| Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||||||||||||
| 2025 | 2024 | 2025 | 2024 | |||||||||||||||||||||||
| (in millions of KWhs) | ||||||||||||||||||||||||||
| Retail: | ||||||||||||||||||||||||||
| Residential | 8,842 | 8,959 | 24,618 | 24,191 | ||||||||||||||||||||||
| Commercial | 7,355 | 6,910 | 19,548 | 18,763 | ||||||||||||||||||||||
| Industrial | 8,552 | 8,562 | 25,248 | 25,563 | ||||||||||||||||||||||
| Miscellaneous | 599 | 612 | 1,701 | 1,718 | ||||||||||||||||||||||
| Total Retail | 25,348 | 25,043 | 71,115 | 70,235 | ||||||||||||||||||||||
| Wholesale (a) | 4,217 | 3,559 | 12,451 | 10,498 | ||||||||||||||||||||||
| Total KWhs | 29,565 | 28,602 | 83,566 | 80,733 | ||||||||||||||||||||||
| Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||||||||||||
| 2025 | 2024 | 2025 | 2024 | |||||||||||||||||||||||
| (in degree days) | ||||||||||||||||||||||||||
| Eastern Region | ||||||||||||||||||||||||||
Actual – Heating | 1 | — | 1,736 | 1,302 | ||||||||||||||||||||||
Normal – Heating | 2 | 3 | 1,702 | 1,746 | ||||||||||||||||||||||
Actual – Cooling | 722 | 854 | 1,104 | 1,328 | ||||||||||||||||||||||
Normal – Cooling | 733 | 746 | 1,085 | 1,089 | ||||||||||||||||||||||
| Western Region | ||||||||||||||||||||||||||
Actual – Heating | — | — | 966 | 743 | ||||||||||||||||||||||
Normal – Heating | — | 1 | 903 | 910 | ||||||||||||||||||||||
Actual – Cooling | 1,447 | 1,510 | 2,278 | 2,486 | ||||||||||||||||||||||
Normal – Cooling | 1,415 | 1,434 | 2,186 | 2,173 | ||||||||||||||||||||||
| Vertically Integrated Utilities | ||||||||||||||
| Reconciliation of 2024 to 2025 Earnings Attributable to AEP Common Shareholders | ||||||||||||||
| (in millions) | ||||||||||||||
| Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||
| 2024 Earnings Attributable to AEP Common Shareholders | $ | 571.5 | $ | 1,198.0 | ||||||||||
| Changes in Revenues: | ||||||||||||||
| Retail Revenues | 212.4 | 669.1 | ||||||||||||
| Off-system Sales | 29.9 | 92.2 | ||||||||||||
| Transmission Revenues | 23.1 | 95.0 | ||||||||||||
| Other Revenues | 17.3 | 12.5 | ||||||||||||
| Total Change in Revenues | 282.7 | 868.8 | ||||||||||||
| Changes in Expenses and Other: | ||||||||||||||
| Purchased Electricity, Fuel and Other Consumables Used for Electric Generation | (68.0) | (194.0) | ||||||||||||
| Other Operation and Maintenance | (116.6) | (143.3) | ||||||||||||
| Asset Impairments and Other Related Charges | — | 13.4 | ||||||||||||
| Depreciation and Amortization | (16.8) | (123.5) | ||||||||||||
| Taxes Other Than Income Taxes | (3.5) | 12.6 | ||||||||||||
| Other Income | (0.4) | (0.4) | ||||||||||||
| Allowance for Equity Funds Used During Construction | 6.5 | 14.4 | ||||||||||||
| Non-Service Cost Components of Net Periodic Pension Cost | (9.1) | (20.9) | ||||||||||||
| Interest Expense | (29.2) | (83.5) | ||||||||||||
| Total Change in Expenses and Other | (237.1) | (525.2) | ||||||||||||
| Income Tax Benefit | (39.0) | (207.3) | ||||||||||||
| Equity Earnings of Unconsolidated Subsidiary | (0.2) | (0.3) | ||||||||||||
| Net Income Attributable to Noncontrolling Interests | 0.3 | 1.0 | ||||||||||||
| 2025 Earnings Attributable to AEP Common Shareholders | $ | 578.2 | $ | 1,335.0 | ||||||||||
| Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||||||||||||
| 2025 | 2024 | 2025 | 2024 | |||||||||||||||||||||||
| (in millions of KWhs) | ||||||||||||||||||||||||||
| Retail: | ||||||||||||||||||||||||||
| Residential | 8,256 | 8,206 | 21,566 | 21,079 | ||||||||||||||||||||||
| Commercial | 12,610 | 9,671 | 33,240 | 26,871 | ||||||||||||||||||||||
| Industrial | 7,009 | 6,725 | 20,813 | 20,363 | ||||||||||||||||||||||
| Miscellaneous | 209 | 213 | 553 | 573 | ||||||||||||||||||||||
| Total Retail (a) | 28,084 | 24,815 | 76,172 | 68,886 | ||||||||||||||||||||||
| Wholesale (b) | 552 | 504 | 1,683 | 1,347 | ||||||||||||||||||||||
| Total KWhs | 28,636 | 25,319 | 77,855 | 70,233 | ||||||||||||||||||||||
| Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||||||||||||
| 2025 | 2024 | 2025 | 2024 | |||||||||||||||||||||||
| (in degree days) | ||||||||||||||||||||||||||
| Eastern Region | ||||||||||||||||||||||||||
Actual – Heating | — | — | 2,077 | 1,573 | ||||||||||||||||||||||
Normal – Heating | 3 | 4 | 1,996 | 2,056 | ||||||||||||||||||||||
Actual – Cooling | 734 | 844 | 1,076 | 1,266 | ||||||||||||||||||||||
Normal – Cooling | 707 | 699 | 1,032 | 1,008 | ||||||||||||||||||||||
| Western Region | ||||||||||||||||||||||||||
Actual – Heating | — | — | 296 | 162 | ||||||||||||||||||||||
Normal – Heating | — | — | 208 | 198 | ||||||||||||||||||||||
Actual – Cooling | 1,367 | 1,457 | 2,520 | 2,801 | ||||||||||||||||||||||
Normal – Cooling | 1,348 | 1,401 | 2,369 | 2,487 | ||||||||||||||||||||||
| Transmission and Distribution Utilities | ||||||||||||||
| Reconciliation of 2024 to 2025 Earnings Attributable to AEP Common Shareholders | ||||||||||||||
| (in millions) | ||||||||||||||
| Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||
| 2024 Earnings Attributable to AEP Common Shareholders | $ | 245.2 | $ | 542.3 | ||||||||||
| Changes in Revenues: | ||||||||||||||
| Retail Revenues | 86.8 | 151.3 | ||||||||||||
| Off-system Sales | 16.1 | 41.9 | ||||||||||||
| Transmission Revenues | 18.2 | 32.4 | ||||||||||||
| Other Revenues | (7.2) | (61.1) | ||||||||||||
| Total Change in Revenues | 113.9 | 164.5 | ||||||||||||
| Changes in Expenses and Other: | ||||||||||||||
Purchased Electricity for Resale | (46.3) | (38.4) | ||||||||||||
| Purchased Electricity from AEP Affiliates | (4.3) | 37.1 | ||||||||||||
| Other Operation and Maintenance | (24.4) | (102.7) | ||||||||||||
| Asset Impairments and Other Related Charges | — | 52.9 | ||||||||||||
| Depreciation and Amortization | 3.0 | 48.0 | ||||||||||||
| Taxes Other Than Income Taxes | (8.8) | (4.5) | ||||||||||||
| Other Income | (3.3) | (5.3) | ||||||||||||
| Allowance for Equity Funds Used During Construction | 1.3 | 5.5 | ||||||||||||
| Non-Service Cost Components of Net Periodic Benefit Cost | (1.0) | (0.4) | ||||||||||||
| Interest Expense | — | (19.6) | ||||||||||||
| Total Change in Expenses and Other | (83.8) | (27.4) | ||||||||||||
| Income Tax Expense | (7.8) | (25.6) | ||||||||||||
| Equity Earnings of Unconsolidated Subsidiary | 0.1 | 2.3 | ||||||||||||
| 2025 Earnings Attributable to AEP Common Shareholders | $ | 267.6 | $ | 656.1 | ||||||||||
September 30, | ||||||||||||||
| 2025 | 2024 | |||||||||||||
| (in millions) | ||||||||||||||
| Plant in Service | $ | 16,876.9 | $ | 15,125.0 | ||||||||||
| Construction Work in Progress | 2,376.4 | 2,411.1 | ||||||||||||
| Accumulated Depreciation and Amortization | 1,891.6 | 1,555.5 | ||||||||||||
| Total Transmission Property, Net | $ | 17,361.7 | $ | 15,980.6 | ||||||||||
| AEP Transmission Holdco | ||||||||||||||
| Reconciliation of 2024 to 2025 Earnings Attributable to AEP Common Shareholders | ||||||||||||||
| (in millions) | ||||||||||||||
| Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||
| 2024 Earnings Attributable to AEP Common Shareholders | $ | 214.7 | $ | 624.1 | ||||||||||
| Changes in Transmission Revenues: | ||||||||||||||
| Transmission Revenues | 60.7 | 372.2 | ||||||||||||
| Total Change in Transmission Revenues | 60.7 | 372.2 | ||||||||||||
| Changes in Expenses and Other: | ||||||||||||||
| Other Operation and Maintenance | (13.3) | (12.9) | ||||||||||||
| Depreciation and Amortization | (13.0) | (33.3) | ||||||||||||
| Taxes Other Than Income Taxes | (6.1) | (6.7) | ||||||||||||
| Interest and Investment Income | (1.5) | (5.9) | ||||||||||||
| Allowance for Equity Funds Used During Construction | (3.5) | — | ||||||||||||
| Non-Service Cost Components of Net Periodic Pension Cost | (1.2) | (1.7) | ||||||||||||
| Interest Expense | (7.1) | (12.5) | ||||||||||||
| Total Change in Expenses and Other | (45.7) | (73.0) | ||||||||||||
| Income Tax Expense | (1.1) | 182.6 | ||||||||||||
| Equity Earnings of Unconsolidated Subsidiaries | (2.2) | (6.1) | ||||||||||||
| Net Income Attributable to Noncontrolling Interests | (26.5) | (86.9) | ||||||||||||
| 2025 Earnings Attributable to AEP Common Shareholders | $ | 199.9 | $ | 1,012.9 | ||||||||||
| Reconciliation of 2024 to 2025 Earnings Attributable to AEP Common Shareholders | ||||||||||||||
| (in millions) | ||||||||||||||
| Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||
| 2024 Earnings Attributable to AEP Common Shareholders | $ | 93.3 | $ | 226.1 | ||||||||||
| Changes in Revenues: | ||||||||||||||
| Merchant Generation | 27.3 | 66.6 | ||||||||||||
| Renewable Generation | (9.1) | (24.7) | ||||||||||||
| Retail, Trading and Marketing | 195.4 | 453.8 | ||||||||||||
| Total Change in Revenues | 213.6 | 495.7 | ||||||||||||
| Changes in Expenses and Other: | ||||||||||||||
| Purchased Electricity, Fuel and Other Consumables Used for Electric Generation | (211.3) | (549.8) | ||||||||||||
| Other Operation and Maintenance | (14.8) | 29.0 | ||||||||||||
| Asset Impairments and Other Related Charges | — | 76.2 | ||||||||||||
| Depreciation and Amortization | 0.1 | 5.0 | ||||||||||||
| Taxes Other Than Income Taxes | 0.1 | (0.2) | ||||||||||||
| Interest and Investment Income | — | (6.0) | ||||||||||||
| Non-Service Cost Components of Net Periodic Benefit Cost | (0.6) | (1.5) | ||||||||||||
| Interest Expense | 2.5 | 9.5 | ||||||||||||
| Total Change in Expenses and Other | (224.0) | (437.8) | ||||||||||||
| Income Tax Expense | (38.6) | (74.3) | ||||||||||||
| Equity Earnings of Unconsolidated Subsidiaries | — | (0.9) | ||||||||||||
| 2025 Earnings Attributable to AEP Common Shareholders | $ | 44.3 | $ | 208.8 | ||||||||||
| September 30, 2025 | December 31, 2024 | ||||||||||||||||||||||
| (dollars in millions) | |||||||||||||||||||||||
| Long-term Debt, including amounts due within one year | $ | 46,137.6 | 58.6 | % | $ | 42,642.8 | 59.1 | % | |||||||||||||||
| Short-term Debt | 1,157.7 | 1.4 | 2,523.8 | 3.5 | |||||||||||||||||||
| Total Debt | 47,295.3 | 60.0 | 45,166.6 | 62.6 | |||||||||||||||||||
| AEP Common Equity | 30,389.3 | 38.6 | 26,943.8 | 37.3 | |||||||||||||||||||
| Noncontrolling Interests | 1,090.0 | 1.4 | 42.3 | 0.1 | |||||||||||||||||||
| Total Debt and Equity Capitalization | $ | 78,774.6 | 100.0 | % | $ | 72,152.7 | 100.0 | % | |||||||||||||||
| Amount | Maturity | |||||||||||||
| Commercial Paper Backup: | (in millions) | |||||||||||||
| Revolving Credit Facility | $ | 5,000.0 | March 2029 | |||||||||||
| Revolving Credit Facility | 1,000.0 | March 2027 | ||||||||||||
| Cash and Cash Equivalents | 1,067.7 | |||||||||||||
| Total Liquidity Sources | 7,067.7 | |||||||||||||
| Less: | AEP Commercial Paper Outstanding | 250.0 | ||||||||||||
| Net Available Liquidity | $ | 6,817.7 | ||||||||||||
| Nine Months Ended September 30, | |||||||||||
| 2025 | 2024 | ||||||||||
| (in millions) | |||||||||||
| Cash, Cash Equivalents and Restricted Cash at Beginning of Period | $ | 246.0 | $ | 379.0 | |||||||
| Net Cash Flows from Operating Activities | 5,130.8 | 5,076.9 | |||||||||
| Net Cash Flows Used for Investing Activities | (7,749.1) | (4,769.5) | |||||||||
| Net Cash Flows from (Used for) Financing Activities | 3,479.1 | (387.2) | |||||||||
| Net Increase (Decrease) in Cash, Cash Equivalents and Restricted Cash | 860.8 | (79.8) | |||||||||
| Cash, Cash Equivalents and Restricted Cash at End of Period | $ | 1,106.8 | $ | 299.2 | |||||||
| Nine Months Ended September 30, | |||||||||||
| 2025 | 2024 | ||||||||||
| (in millions) | |||||||||||
| Net Income | $ | 3,090.8 | $ | 2,309.9 | |||||||
| Non-Cash Adjustments to Net Income (a) | 2,516.8 | 2,540.7 | |||||||||
| Mark-to-Market of Risk Management Contracts | (192.6) | (97.6) | |||||||||
| Pension Contributions to Qualified Plan Trust | (94.7) | — | |||||||||
| Property Taxes | 541.3 | 508.3 | |||||||||
| Deferred Fuel Over/Under-Recovery, Net | 164.7 | 304.6 | |||||||||
| Change in Other Noncurrent Assets | (719.7) | (244.0) | |||||||||
| Change in Other Noncurrent Liabilities | 133.8 | 193.8 | |||||||||
| Change in Certain Components of Working Capital | (309.6) | (438.8) | |||||||||
| Net Cash Flows from Operating Activities | $ | 5,130.8 | $ | 5,076.9 | |||||||
| Nine Months Ended September 30, | |||||||||||
| 2025 | 2024 | ||||||||||
| (in millions) | |||||||||||
| Construction Expenditures | $ | (6,001.2) | $ | (5,168.6) | |||||||
| Acquisitions of Generation Facilities | (1,657.3) | — | |||||||||
| Acquisitions of Nuclear Fuel | (88.9) | (98.4) | |||||||||
| Proceeds from Sales of Assets | 12.6 | 365.0 | |||||||||
| Proceeds from Sale of Equity Method Investment | — | 114.0 | |||||||||
| Other | (14.3) | 18.5 | |||||||||
| Net Cash Flows Used for Investing Activities | $ | (7,749.1) | $ | (4,769.5) | |||||||
| Nine Months Ended September 30, | |||||||||||
| 2025 | 2024 | ||||||||||
| (in millions) | |||||||||||
| Issuance of Common Stock | $ | 187.5 | $ | 513.0 | |||||||
| Issuance/Retirement of Debt, Net | 2,079.3 | 608.8 | |||||||||
| Principal Payments for Finance Lease Obligations | (37.9) | (51.2) | |||||||||
| Proceeds from the Midwest Transmission Holdings Noncontrolling Interest Transaction, Net of Transaction Costs | 2,782.9 | — | |||||||||
| Dividends Paid on Common Stock | (1,497.9) | (1,402.7) | |||||||||
| Other | (34.8) | (55.1) | |||||||||
| Net Cash Flows from (Used for) Financing Activities | $ | 3,479.1 | $ | (387.2) | |||||||
| Segment | 2026-2030 Budgeted Capital Expenditures | |||||||
| (in millions) | ||||||||
| Vertically Integrated Utilities | $ | 37,155 | ||||||
| Transmission and Distribution Utilities | 22,537 | |||||||
| AEP Transmission Holdco | 10,607 | |||||||
| Generation & Marketing | 111 | |||||||
| Corporate and Other | 1,556 | |||||||
| Total | $ | 71,966 | ||||||
| Nine Months Ended September 30, 2025 | ||||||||||||||||||||||||||
| Vertically Integrated Utilities | Transmission and Distribution Utilities | Generation & Marketing | Total | |||||||||||||||||||||||
| (in millions) | ||||||||||||||||||||||||||
Total MTM Risk Management Contracts - Commodity Net Assets (Liabilities) as of December 31, 2024 | $ | 91.8 | $ | (48.0) | $ | 161.8 | $ | 205.6 | ||||||||||||||||||
Gain from Contracts Realized/Settled During the Period and Entered in a Prior Period | (74.4) | — | (33.2) | (107.6) | ||||||||||||||||||||||
Fair Value of New Contracts at Inception When Entered During the Period (a) | — | — | 10.7 | 10.7 | ||||||||||||||||||||||
Changes in Fair Value Due to Market Fluctuations During the Period (b) | (14.7) | — | 63.2 | 48.5 | ||||||||||||||||||||||
| Changes in Fair Value Allocated to Regulated Jurisdictions (c) | 218.1 | 3.8 | — | 221.9 | ||||||||||||||||||||||
Total MTM Risk Management Contracts - Commodity Net Assets (Liabilities) as of September 30, 2025 | $ | 220.8 | $ | (44.2) | $ | 202.5 | 379.1 | |||||||||||||||||||
Commodity Cash Flow Hedge Contracts | 97.3 | |||||||||||||||||||||||||
| Fair Value Hedge Contracts | (49.0) | |||||||||||||||||||||||||
| Collateral Deposits | (64.5) | |||||||||||||||||||||||||
Total MTM Derivative Contract Net Assets as of September 30, 2025 | $ | 362.9 | ||||||||||||||||||||||||
| Counterparty Credit Quality | Exposure Before Credit Collateral | Credit Collateral | Net Exposure | Number of Counterparties >10% of Net Exposure | Net Exposure of Counterparties >10% | |||||||||||||||||||||||||||
| (in millions, except number of counterparties) | ||||||||||||||||||||||||||||||||
| Investment Grade | $ | 585.9 | $ | 69.8 | $ | 516.1 | 3 | $ | 313.8 | |||||||||||||||||||||||
| Non-investment Grade | 5.4 | 0.9 | 4.5 | 2 | 4.5 | |||||||||||||||||||||||||||
| No External Ratings: | ||||||||||||||||||||||||||||||||
| Internal Investment Grade | 13.9 | — | 13.9 | 2 | 8.9 | |||||||||||||||||||||||||||
| Internal Non-investment Grade | 129.8 | 73.8 | 56.0 | 2 | 48.8 | |||||||||||||||||||||||||||
| Total as of September 30, 2025 | $ | 735.0 | $ | 144.5 | $ | 590.5 | ||||||||||||||||||||||||||
| Nine Months Ended | Twelve Months Ended | |||||||||||||||||||||||||||||||||||||||||||
| September 30, 2025 | December 31, 2024 | |||||||||||||||||||||||||||||||||||||||||||
| End | High | Average | Low | End | High | Average | Low | |||||||||||||||||||||||||||||||||||||
| (in millions) | (in millions) | |||||||||||||||||||||||||||||||||||||||||||
| $ | 0.1 | $ | 0.7 | $ | 0.2 | $ | 0.1 | $ | 0.2 | $ | 1.7 | $ | 0.3 | $ | 0.1 | |||||||||||||||||||||||||||||
| Nine Months Ended | Twelve Months Ended | |||||||||||||||||||||||||||||||||||||||||||
| September 30, 2025 | December 31, 2024 | |||||||||||||||||||||||||||||||||||||||||||
| End | High | Average | Low | End | High | Average | Low | |||||||||||||||||||||||||||||||||||||
| (in millions) | (in millions) | |||||||||||||||||||||||||||||||||||||||||||
| $ | 1.6 | $ | 28.8 | $ | 9.8 | $ | 1.6 | $ | 37.9 | $ | 98.6 | $ | 19.3 | $ | 7.6 | |||||||||||||||||||||||||||||
| Three Months Ended | Nine Months Ended | |||||||||||||||||||||||||
| September 30, | September 30, | |||||||||||||||||||||||||
| 2025 | 2024 | 2025 | 2024 | |||||||||||||||||||||||
| REVENUES | ||||||||||||||||||||||||||
| Vertically Integrated Utilities | $ | 3,511.2 | $ | 3,248.8 | $ | 9,531.2 | $ | 8,722.0 | ||||||||||||||||||
| Transmission and Distribution Utilities | 1,680.2 | 1,568.5 | 4,638.3 | 4,480.5 | ||||||||||||||||||||||
| Generation & Marketing | 693.8 | 483.7 | 1,975.4 | 1,442.1 | ||||||||||||||||||||||
| Other Revenues | 125.2 | 119.1 | 415.8 | 380.4 | ||||||||||||||||||||||
| TOTAL REVENUES | 6,010.4 | 5,420.1 | 16,560.7 | 15,025.0 | ||||||||||||||||||||||
| EXPENSES | ||||||||||||||||||||||||||
| Purchased Electricity, Fuel and Other Consumables Used for Electric Generation | 1,980.2 | 1,659.2 | 5,374.5 | 4,603.5 | ||||||||||||||||||||||
| Other Operation | 797.8 | 805.8 | 2,087.8 | 2,385.4 | ||||||||||||||||||||||
| Maintenance | 405.1 | 343.7 | 1,114.3 | 1,012.7 | ||||||||||||||||||||||
| Asset Impairments and Other Related Charges | — | — | — | 142.5 | ||||||||||||||||||||||
| Depreciation and Amortization | 879.6 | 852.7 | 2,566.1 | 2,461.7 | ||||||||||||||||||||||
| Taxes Other Than Income Taxes | 426.3 | 407.2 | 1,213.3 | 1,211.2 | ||||||||||||||||||||||
| TOTAL EXPENSES | 4,489.0 | 4,068.6 | 12,356.0 | 11,817.0 | ||||||||||||||||||||||
| OPERATING INCOME | 1,521.4 | 1,351.5 | 4,204.7 | 3,208.0 | ||||||||||||||||||||||
| Other Income (Expense): | ||||||||||||||||||||||||||
| Other Income | 12.1 | 28.5 | 35.4 | 55.2 | ||||||||||||||||||||||
| Allowance for Equity Funds Used During Construction | 58.5 | 54.2 | 172.9 | 153.0 | ||||||||||||||||||||||
| Non-Service Cost Components of Net Periodic Benefit Cost | 34.4 | 46.5 | 104.1 | 129.0 | ||||||||||||||||||||||
| Interest Expense | (508.5) | (498.8) | (1,492.9) | (1,400.0) | ||||||||||||||||||||||
| INCOME BEFORE INCOME TAX EXPENSE (BENEFIT) AND EQUITY EARNINGS | 1,117.9 | 981.9 | 3,024.2 | 2,145.2 | ||||||||||||||||||||||
| Income Tax Expense (Benefit) | 138.7 | 37.5 | 13.3 | (97.7) | ||||||||||||||||||||||
| Equity Earnings of Unconsolidated Subsidiaries | 21.1 | 17.3 | 79.9 | 67.0 | ||||||||||||||||||||||
| NET INCOME | 1,000.3 | 961.7 | 3,090.8 | 2,309.9 | ||||||||||||||||||||||
| Net Income Attributable to Noncontrolling Interests | 28.3 | 2.1 | 92.8 | 6.9 | ||||||||||||||||||||||
| EARNINGS ATTRIBUTABLE TO AEP COMMON SHAREHOLDERS | $ | 972.0 | $ | 959.6 | $ | 2,998.0 | $ | 2,303.0 | ||||||||||||||||||
| WEIGHTED AVERAGE NUMBER OF BASIC AEP COMMON SHARES OUTSTANDING | 534,867,357 | 532,208,876 | 534,186,206 | 529,230,818 | ||||||||||||||||||||||
| TOTAL BASIC EARNINGS PER SHARE ATTRIBUTABLE TO AEP COMMON SHAREHOLDERS | $ | 1.82 | $ | 1.80 | $ | 5.61 | $ | 4.35 | ||||||||||||||||||
| WEIGHTED AVERAGE NUMBER OF DILUTED AEP COMMON SHARES OUTSTANDING | 537,988,799 | 533,600,842 | 536,364,715 | 530,456,985 | ||||||||||||||||||||||
| TOTAL DILUTED EARNINGS PER SHARE ATTRIBUTABLE TO AEP COMMON SHAREHOLDERS | $ | 1.81 | $ | 1.80 | $ | 5.59 | $ | 4.34 | ||||||||||||||||||
| Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||||||||||||
| 2025 | 2024 | 2025 | 2024 | |||||||||||||||||||||||
| Net Income | $ | 1,000.3 | $ | 961.7 | $ | 3,090.8 | $ | 2,309.9 | ||||||||||||||||||
| OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAXES | ||||||||||||||||||||||||||
Cash Flow Hedges, Net of Tax of $(4.1) and $(12.3) for the Three Months Ended September 30, 2025 and 2024, Respectively, and $(6.8) and $(8.0) for the Nine Months Ended September 30, 2025 and 2024, Respectively | (15.4) | (46.3) | (25.5) | (30.1) | ||||||||||||||||||||||
Amortization of Pension and OPEB Deferred Costs, Net of Tax of $0.1 and $(0.1) for the Three Months Ended September 30, 2025 and 2024, Respectively, and $0.2 and $(0.3) for the Nine Months Ended September 30, 2025 and 2024, Respectively | 0.2 | (0.6) | 0.8 | (1.3) | ||||||||||||||||||||||
| TOTAL OTHER COMPREHENSIVE LOSS | (15.2) | (46.9) | (24.7) | (31.4) | ||||||||||||||||||||||
| TOTAL COMPREHENSIVE INCOME | 985.1 | 914.8 | 3,066.1 | 2,278.5 | ||||||||||||||||||||||
| Total Comprehensive Income Attributable To Noncontrolling Interests | 28.3 | 2.1 | 92.8 | 6.9 | ||||||||||||||||||||||
| TOTAL COMPREHENSIVE INCOME ATTRIBUTABLE TO AEP COMMON SHAREHOLDERS | $ | 956.8 | $ | 912.7 | $ | 2,973.3 | $ | 2,271.6 | ||||||||||||||||||
| AEP Common Shareholders | |||||||||||||||||||||||||||||||||||||||||
| Common Stock | Accumulated Other Comprehensive Income (Loss) | ||||||||||||||||||||||||||||||||||||||||
| Shares | Amount | Paid-in Capital | Retained Earnings | Noncontrolling Interests | Total | ||||||||||||||||||||||||||||||||||||
| TOTAL EQUITY – DECEMBER 31, 2023 | 527.4 | $ | 3,427.9 | $ | 9,073.9 | $ | 12,800.4 | $ | (55.5) | $ | 39.2 | $ | 25,285.9 | ||||||||||||||||||||||||||||
| Issuance of Common Stock | 0.8 | 5.4 | 35.2 | 40.6 | |||||||||||||||||||||||||||||||||||||
| Common Stock Dividends | (465.5) | (a) | (1.4) | (466.9) | |||||||||||||||||||||||||||||||||||||
| Other Changes in Equity | (14.8) | (14.8) | |||||||||||||||||||||||||||||||||||||||
| Net Income | 1,003.1 | 2.6 | 1,005.7 | ||||||||||||||||||||||||||||||||||||||
| Other Comprehensive Loss | (6.8) | (6.8) | |||||||||||||||||||||||||||||||||||||||
| TOTAL EQUITY – MARCH 31, 2024 | 528.2 | 3,433.3 | 9,094.3 | 13,338.0 | (62.3) | 40.4 | 25,843.7 | ||||||||||||||||||||||||||||||||||
| Issuance of Common Stock | 4.9 | 32.1 | 403.1 | 435.2 | |||||||||||||||||||||||||||||||||||||
| Common Stock Dividends | (467.0) | (a) | (2.1) | (469.1) | |||||||||||||||||||||||||||||||||||||
| Other Changes in Equity | 1.1 | 1.1 | |||||||||||||||||||||||||||||||||||||||
| Net Income | 340.3 | 2.2 | 342.5 | ||||||||||||||||||||||||||||||||||||||
| Other Comprehensive Income | 22.3 | 22.3 | |||||||||||||||||||||||||||||||||||||||
| TOTAL EQUITY – JUNE 30, 2024 | 533.1 | 3,465.4 | 9,498.5 | 13,211.3 | (40.0) | 40.5 | 26,175.7 | ||||||||||||||||||||||||||||||||||
| Issuance of Common Stock | 0.6 | 3.3 | 33.9 | 37.2 | |||||||||||||||||||||||||||||||||||||
| Common Stock Dividends | (470.2) | (a) | (1.2) | (471.4) | |||||||||||||||||||||||||||||||||||||
| Other Changes in Equity | 2.5 | 2.5 | |||||||||||||||||||||||||||||||||||||||
| Net Income | 959.6 | 2.1 | 961.7 | ||||||||||||||||||||||||||||||||||||||
| Other Comprehensive Loss | (46.9) | (46.9) | |||||||||||||||||||||||||||||||||||||||
| TOTAL EQUITY – SEPTEMBER 30, 2024 | 533.7 | $ | 3,468.7 | $ | 9,534.9 | $ | 13,700.7 | $ | (86.9) | $ | 41.4 | $ | 26,658.8 | ||||||||||||||||||||||||||||
| TOTAL EQUITY – DECEMBER 31, 2024 | 534.1 | $ | 3,471.6 | $ | 9,606.1 | $ | 13,869.2 | $ | (3.1) | $ | 42.3 | $ | 26,986.1 | ||||||||||||||||||||||||||||
| Issuance of Common Stock | 1.1 | 7.1 | 68.3 | 75.4 | |||||||||||||||||||||||||||||||||||||
| Common Stock Dividends | (500.0) | (b) | (1.0) | (501.0) | |||||||||||||||||||||||||||||||||||||
| Other Changes in Equity | (22.1) | (22.1) | |||||||||||||||||||||||||||||||||||||||
| Net Income | 800.2 | 2.0 | 802.2 | ||||||||||||||||||||||||||||||||||||||
| Other Comprehensive Income | 23.4 | 23.4 | |||||||||||||||||||||||||||||||||||||||
| TOTAL EQUITY – MARCH 31, 2025 | 535.2 | 3,478.7 | 9,652.3 | 14,169.4 | 20.3 | 43.3 | 27,364.0 | ||||||||||||||||||||||||||||||||||
| Issuance of Common Stock | 0.6 | 3.7 | 52.7 | 56.4 | |||||||||||||||||||||||||||||||||||||
| Common Stock Dividends | (498.5) | (b) | (1.0) | (499.5) | |||||||||||||||||||||||||||||||||||||
| Other Changes in Equity | 9.1 | 0.1 | 9.2 | ||||||||||||||||||||||||||||||||||||||
| Midwest Transmission Holdings Noncontrolling Interest Transaction | 1,790.5 | 992.4 | 2,782.9 | ||||||||||||||||||||||||||||||||||||||
| Net Income | 1,225.8 | 62.5 | 1,288.3 | ||||||||||||||||||||||||||||||||||||||
| Other Comprehensive Loss | (32.9) | (32.9) | |||||||||||||||||||||||||||||||||||||||
| TOTAL EQUITY – JUNE 30, 2025 | 535.8 | 3,482.4 | 11,504.6 | 14,896.7 | (12.6) | 1,097.3 | 30,968.4 | ||||||||||||||||||||||||||||||||||
| Issuance of Common Stock | 0.5 | 3.6 | 52.1 | 55.7 | |||||||||||||||||||||||||||||||||||||
| Capital Contribution from Noncontrolling Interest | 33.9 | 33.9 | |||||||||||||||||||||||||||||||||||||||
| Common Stock Dividends | (499.4) | (b) | (499.4) | ||||||||||||||||||||||||||||||||||||||
| Dividends Paid to Noncontrolling Interest | (69.5) | (69.5) | |||||||||||||||||||||||||||||||||||||||
| Other Changes in Equity | 5.1 | 5.1 | |||||||||||||||||||||||||||||||||||||||
| Net Income | 972.0 | 28.3 | 1,000.3 | ||||||||||||||||||||||||||||||||||||||
| Other Comprehensive Loss | (15.2) | (15.2) | |||||||||||||||||||||||||||||||||||||||
| TOTAL EQUITY – SEPTEMBER 30, 2025 | 536.3 | $ | 3,486.0 | $ | 11,561.8 | $ | 15,369.3 | $ | (27.8) | $ | 1,090.0 | $ | 31,479.3 | ||||||||||||||||||||||||||||
| September 30, | December 31, | |||||||||||||
| 2025 | 2024 | |||||||||||||
| CURRENT ASSETS | ||||||||||||||
| Cash and Cash Equivalents | $ | 1,067.7 | $ | 202.9 | ||||||||||
Restricted Cash (September 30, 2025 and December 31, 2024 Amounts Include $39.1 and $43.1, Respectively, Related to Transition Funding, Restoration Funding, Appalachian Consumer Rate Relief Funding, Storm Recovery Funding and Cost Recovery Funding) | 39.1 | 43.1 | ||||||||||||
Other Temporary Investments (September 30, 2025 and December 31, 2024 Amounts Include $215.2 and $206.7, Respectively, Related to EIS) | 225.4 | 215.4 | ||||||||||||
| Accounts Receivable: | ||||||||||||||
| Customers | 1,141.4 | 1,100.1 | ||||||||||||
| Accrued Unbilled Revenues | 355.0 | 367.0 | ||||||||||||
| Pledged Accounts Receivable – AEP Credit | 1,336.2 | 1,161.5 | ||||||||||||
| Miscellaneous | 63.2 | 64.1 | ||||||||||||
| Allowance for Credit Losses | (62.7) | (60.8) | ||||||||||||
| Total Accounts Receivable | 2,833.1 | 2,631.9 | ||||||||||||
| Fuel | 599.0 | 748.9 | ||||||||||||
| Materials and Supplies | 986.7 | 966.2 | ||||||||||||
| Risk Management Assets | 407.9 | 210.4 | ||||||||||||
| Accrued Tax Benefits | 59.7 | 38.2 | ||||||||||||
| Regulatory Asset for Under-Recovered Fuel Costs | 380.6 | 445.9 | ||||||||||||
| Prepayments and Other Current Assets | 260.8 | 285.9 | ||||||||||||
| TOTAL CURRENT ASSETS | 6,860.0 | 5,788.8 | ||||||||||||
| PROPERTY, PLANT AND EQUIPMENT | ||||||||||||||
| Electric: | ||||||||||||||
| Generation | 26,442.2 | 24,829.7 | ||||||||||||
| Transmission | 40,987.3 | 38,871.9 | ||||||||||||
| Distribution | 32,618.2 | 31,061.9 | ||||||||||||
| Other Property, Plant and Equipment (Including Coal Mining and Nuclear Fuel) | 8,385.1 | 7,491.6 | ||||||||||||
| Construction Work in Progress | 7,456.7 | 6,346.9 | ||||||||||||
| Total Property, Plant and Equipment | 115,889.5 | 108,602.0 | ||||||||||||
| Accumulated Depreciation and Amortization | 27,871.8 | 26,186.4 | ||||||||||||
| TOTAL PROPERTY, PLANT AND EQUIPMENT – NET | 88,017.7 | 82,415.6 | ||||||||||||
| OTHER NONCURRENT ASSETS | ||||||||||||||
| Regulatory Assets | 4,950.2 | 5,129.2 | ||||||||||||
| Securitized Assets | 952.9 | 554.3 | ||||||||||||
| Spent Nuclear Fuel and Decommissioning Trusts | 4,858.9 | 4,395.1 | ||||||||||||
| Goodwill | 52.5 | 52.5 | ||||||||||||
| Long-term Risk Management Assets | 264.6 | 289.1 | ||||||||||||
| Operating Lease Assets | 578.2 | 580.1 | ||||||||||||
| Deferred Charges and Other Noncurrent Assets | 3,718.5 | 3,873.3 | ||||||||||||
| TOTAL OTHER NONCURRENT ASSETS | 15,375.8 | 14,873.6 | ||||||||||||
| TOTAL ASSETS | $ | 110,253.5 | $ | 103,078.0 | ||||||||||
| September 30, | December 31, | ||||||||||||||||||||||||||||
| 2025 | 2024 | ||||||||||||||||||||||||||||
| CURRENT LIABILITIES | |||||||||||||||||||||||||||||
| Accounts Payable | $ | 2,806.7 | $ | 2,637.6 | |||||||||||||||||||||||||
| Short-term Debt: | |||||||||||||||||||||||||||||
| Securitized Debt for Receivables – AEP Credit | 900.0 | 900.0 | |||||||||||||||||||||||||||
| Other Short-term Debt | 257.7 | 1,623.8 | |||||||||||||||||||||||||||
| Total Short-term Debt | 1,157.7 | 2,523.8 | |||||||||||||||||||||||||||
Long-term Debt Due Within One Year (September 30, 2025 and December 31, 2024 Amounts Include $178.8 and $216.5, Respectively, Related to DCC Fuel, Restoration Funding, Appalachian Consumer Rate Relief Funding, Storm Recovery Funding, Transource Energy and Cost Recovery Funding) | 1,898.6 | 3,335.0 | |||||||||||||||||||||||||||
| Risk Management Liabilities | 122.7 | 100.0 | |||||||||||||||||||||||||||
| Customer Deposits | 498.5 | 454.7 | |||||||||||||||||||||||||||
| Accrued Taxes | 1,257.2 | 1,922.1 | |||||||||||||||||||||||||||
| Accrued Interest | 606.4 | 453.3 | |||||||||||||||||||||||||||
| Obligations Under Operating Leases | 98.4 | 91.9 | |||||||||||||||||||||||||||
| Other Current Liabilities | 1,551.4 | 1,490.9 | |||||||||||||||||||||||||||
| TOTAL CURRENT LIABILITIES | 9,997.6 | 13,009.3 | |||||||||||||||||||||||||||
| NONCURRENT LIABILITIES | |||||||||||||||||||||||||||||
Long-term Debt (September 30, 2025 and December 31, 2024 Amounts Include $1,295.7 and $826.5, Respectively, Related to DCC Fuel, Restoration Funding, Appalachian Consumer Rate Relief Funding, Storm Recovery Funding, Transource Energy and Cost Recovery Funding) | 44,239.0 | 39,307.8 | |||||||||||||||||||||||||||
| Long-term Risk Management Liabilities | 186.9 | 224.4 | |||||||||||||||||||||||||||
| Deferred Income Taxes | 10,713.9 | 9,972.4 | |||||||||||||||||||||||||||
| Regulatory Liabilities and Deferred Investment Tax Credits | 8,320.0 | 8,344.0 | |||||||||||||||||||||||||||
| Asset Retirement Obligations | 3,647.1 | 3,530.6 | |||||||||||||||||||||||||||
| Employee Benefits and Pension Obligations | 268.1 | 360.7 | |||||||||||||||||||||||||||
| Obligations Under Operating Leases | 496.3 | 504.3 | |||||||||||||||||||||||||||
| Deferred Credits and Other Noncurrent Liabilities | 844.6 | 800.6 | |||||||||||||||||||||||||||
| TOTAL NONCURRENT LIABILITIES | 68,715.9 | 63,044.8 | |||||||||||||||||||||||||||
| TOTAL LIABILITIES | 78,713.5 | 76,054.1 | |||||||||||||||||||||||||||
| Rate Matters (Note 4) | |||||||||||||||||||||||||||||
| Commitments and Contingencies (Note 5) | |||||||||||||||||||||||||||||
| MEZZANINE EQUITY | |||||||||||||||||||||||||||||
| Contingently Redeemable Performance Share Awards | 60.7 | 37.8 | |||||||||||||||||||||||||||
| TOTAL MEZZANINE EQUITY | 60.7 | 37.8 | |||||||||||||||||||||||||||
| EQUITY | |||||||||||||||||||||||||||||
Common Stock – Par Value – $6.50 Per Share: | |||||||||||||||||||||||||||||
| 2025 | 2024 | ||||||||||||||||||||||||||||
| Shares Authorized | 600,000,000 | 600,000,000 | |||||||||||||||||||||||||||
| Shares Issued | 536,312,729 | 534,094,530 | |||||||||||||||||||||||||||
(1,186,815 Shares were Held in Treasury as of September 30, 2025 and December 31, 2024, Respectively) | 3,486.0 | 3,471.6 | |||||||||||||||||||||||||||
| Paid-in Capital | 11,561.8 | 9,606.1 | |||||||||||||||||||||||||||
| Retained Earnings | 15,369.3 | 13,869.2 | |||||||||||||||||||||||||||
| Accumulated Other Comprehensive Income (Loss) | (27.8) | (3.1) | |||||||||||||||||||||||||||
| TOTAL AEP COMMON SHAREHOLDERS’ EQUITY | 30,389.3 | 26,943.8 | |||||||||||||||||||||||||||
| Noncontrolling Interests | 1,090.0 | 42.3 | |||||||||||||||||||||||||||
| TOTAL EQUITY | 31,479.3 | 26,986.1 | |||||||||||||||||||||||||||
| TOTAL LIABILITIES, MEZZANINE EQUITY AND TOTAL EQUITY | $ | 110,253.5 | $ | 103,078.0 | |||||||||||||||||||||||||
| Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||||||||
| 2025 | 2024 | 2025 | 2024 | ||||||||||||||||||||
| (in millions of KWhs) | |||||||||||||||||||||||
| Retail: | |||||||||||||||||||||||
| Residential | 4,135 | 4,116 | 10,326 | 10,174 | |||||||||||||||||||
| Commercial | 5,219 | 4,283 | 14,037 | 11,733 | |||||||||||||||||||
| Industrial | 3,489 | 3,181 | 10,159 | 9,778 | |||||||||||||||||||
| Miscellaneous | 186 | 189 | 477 | 496 | |||||||||||||||||||
| Total Retail | 13,029 | 11,769 | 34,999 | 32,181 | |||||||||||||||||||
| Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||||||||
| 2025 | 2024 | 2025 | 2024 | ||||||||||||||||||||
| (in degree days) | |||||||||||||||||||||||
| Actual – Heating | — | — | 296 | 162 | |||||||||||||||||||
| Normal – Heating | — | — | 208 | 198 | |||||||||||||||||||
| Actual – Cooling | 1,367 | 1,457 | 2,520 | 2,801 | |||||||||||||||||||
| Normal – Cooling | 1,348 | 1,401 | 2,369 | 2,487 | |||||||||||||||||||
| AEP Texas Inc. and Subsidiaries | ||||||||||||||
| Reconciliation of 2024 to 2025 Net Income | ||||||||||||||
| (in millions) | ||||||||||||||
| Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||
| 2024 Net Income | $ | 132.5 | $ | 340.6 | ||||||||||
| Changes in Revenues: | ||||||||||||||
| Retail Revenues | 46.3 | 128.2 | ||||||||||||
| Transmission Revenues | 13.7 | 21.7 | ||||||||||||
| Other Revenues | (12.1) | (53.8) | ||||||||||||
| Total Change in Revenues | 47.9 | 96.1 | ||||||||||||
| Changes in Expenses and Other: | ||||||||||||||
| Other Operation and Maintenance | (23.3) | (75.4) | ||||||||||||
| Depreciation and Amortization | 13.4 | 39.3 | ||||||||||||
| Taxes Other Than Income Taxes | (1.1) | (6.0) | ||||||||||||
| Interest Income | (2.5) | (4.5) | ||||||||||||
| Allowance for Equity Funds Used During Construction | 2.6 | 2.5 | ||||||||||||
| Non-Service Cost Components of Net Periodic Benefit Cost | 1.8 | 5.8 | ||||||||||||
| Interest Expense | 1.3 | (11.7) | ||||||||||||
| Total Change in Expenses and Other | (7.8) | (50.0) | ||||||||||||
| Income Tax Expense | (5.9) | 2.7 | ||||||||||||
| 2025 Net Income | $ | 166.7 | $ | 389.4 | ||||||||||
| Three Months Ended | Nine Months Ended | |||||||||||||||||||||||||
| September 30, | September 30, | |||||||||||||||||||||||||
| 2025 | 2024 | 2025 | 2024 | |||||||||||||||||||||||
| REVENUES | ||||||||||||||||||||||||||
| Electric Transmission and Distribution | $ | 615.6 | $ | 569.2 | $ | 1,663.9 | $ | 1,569.9 | ||||||||||||||||||
| Sales to AEP Affiliates | 1.3 | 1.3 | 4.0 | 4.0 | ||||||||||||||||||||||
| Other Revenues | 2.2 | 0.7 | 5.4 | 3.3 | ||||||||||||||||||||||
| TOTAL REVENUES | 619.1 | 571.2 | 1,673.3 | 1,577.2 | ||||||||||||||||||||||
| EXPENSES | ||||||||||||||||||||||||||
| Other Operation | 186.9 | 164.7 | 516.9 | 453.3 | ||||||||||||||||||||||
| Maintenance | 23.6 | 22.5 | 78.1 | 66.3 | ||||||||||||||||||||||
| Depreciation and Amortization | 113.3 | 126.7 | 329.0 | 368.3 | ||||||||||||||||||||||
| Taxes Other Than Income Taxes | 45.9 | 44.8 | 131.4 | 125.4 | ||||||||||||||||||||||
| TOTAL EXPENSES | 369.7 | 358.7 | 1,055.4 | 1,013.3 | ||||||||||||||||||||||
| OPERATING INCOME | 249.4 | 212.5 | 617.9 | 563.9 | ||||||||||||||||||||||
| Other Income (Expense): | ||||||||||||||||||||||||||
| Interest Income | 0.6 | 3.1 | 1.2 | 5.7 | ||||||||||||||||||||||
| Allowance for Equity Funds Used During Construction | 13.1 | 10.5 | 37.1 | 34.6 | ||||||||||||||||||||||
| Non-Service Cost Components of Net Periodic Benefit Cost | 5.5 | 3.7 | 16.6 | 10.8 | ||||||||||||||||||||||
| Interest Expense | (66.4) | (67.7) | (200.2) | (188.5) | ||||||||||||||||||||||
| INCOME BEFORE INCOME TAX EXPENSE | 202.2 | 162.1 | 472.6 | 426.5 | ||||||||||||||||||||||
| Income Tax Expense | 35.5 | 29.6 | 83.2 | 85.9 | ||||||||||||||||||||||
| NET INCOME | $ | 166.7 | $ | 132.5 | $ | 389.4 | $ | 340.6 | ||||||||||||||||||
| The common stock of AEP Texas is wholly-owned by Parent. | ||||||||||||||||||||||||||
| Three Months Ended | Nine Months Ended | |||||||||||||||||||||||||
| September 30, | September 30, | |||||||||||||||||||||||||
| 2025 | 2024 | 2025 | 2024 | |||||||||||||||||||||||
| Net Income | $ | 166.7 | $ | 132.5 | $ | 389.4 | $ | 340.6 | ||||||||||||||||||
| OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAXES | ||||||||||||||||||||||||||
Cash Flow Hedges, Net of Tax of $0 and $0 for the Three Months Ended September 30, 2025 and 2024, Respectively, and $(0.1) and $1.6 for the Nine Months Ended September 30, 2025 and 2024, Respectively | (0.1) | (0.1) | (0.5) | 6.0 | ||||||||||||||||||||||
| TOTAL OTHER COMPREHENSIVE INCOME (LOSS) | (0.1) | (0.1) | (0.5) | 6.0 | ||||||||||||||||||||||
| TOTAL COMPREHENSIVE INCOME | $ | 166.6 | $ | 132.4 | $ | 388.9 | $ | 346.6 | ||||||||||||||||||
| Paid-in Capital | Retained Earnings | Accumulated Other Comprehensive Income (Loss) | Total | |||||||||||||||||||||||
TOTAL COMMON SHAREHOLDER’S EQUITY – DECEMBER 31, 2023 | $ | 2,079.6 | $ | 2,725.1 | $ | (8.6) | $ | 4,796.1 | ||||||||||||||||||
| Net Income | 79.7 | 79.7 | ||||||||||||||||||||||||
| Other Comprehensive Income | 3.9 | 3.9 | ||||||||||||||||||||||||
TOTAL COMMON SHAREHOLDER’S EQUITY – MARCH 31, 2024 | 2,079.6 | 2,804.8 | (4.7) | 4,879.7 | ||||||||||||||||||||||
| Capital Contribution from Parent | 1.6 | 1.6 | ||||||||||||||||||||||||
| Net Income | 128.4 | 128.4 | ||||||||||||||||||||||||
| Other Comprehensive Income | 2.2 | 2.2 | ||||||||||||||||||||||||
TOTAL COMMON SHAREHOLDER’S EQUITY – JUNE 30, 2024 | 2,081.2 | 2,933.2 | (2.5) | 5,011.9 | ||||||||||||||||||||||
| Return of Capital to Parent | (0.7) | (0.7) | ||||||||||||||||||||||||
| Common Stock Dividends | (150.0) | (150.0) | ||||||||||||||||||||||||
| Net Income | 132.5 | 132.5 | ||||||||||||||||||||||||
| Other Comprehensive Loss | (0.1) | (0.1) | ||||||||||||||||||||||||
TOTAL COMMON SHAREHOLDER’S EQUITY – SEPTEMBER 30, 2024 | $ | 2,080.5 | $ | 2,915.7 | $ | (2.6) | $ | 4,993.6 | ||||||||||||||||||
TOTAL COMMON SHAREHOLDER’S EQUITY – DECEMBER 31, 2024 | $ | 2,092.4 | $ | 2,795.2 | $ | (3.0) | $ | 4,884.6 | ||||||||||||||||||
| Net Income | 101.6 | 101.6 | ||||||||||||||||||||||||
| Other Comprehensive Loss | (0.2) | (0.2) | ||||||||||||||||||||||||
TOTAL COMMON SHAREHOLDER’S EQUITY – MARCH 31, 2025 | 2,092.4 | 2,896.8 | (3.2) | 4,986.0 | ||||||||||||||||||||||
| Capital Contribution from Parent | 250.5 | 250.5 | ||||||||||||||||||||||||
| Net Income | 121.1 | 121.1 | ||||||||||||||||||||||||
| Other Comprehensive Loss | (0.2) | (0.2) | ||||||||||||||||||||||||
TOTAL COMMON SHAREHOLDER’S EQUITY – JUNE 30, 2025 | 2,342.9 | 3,017.9 | (3.4) | 5,357.4 | ||||||||||||||||||||||
| Capital Contribution from Parent | 200.4 | 200.4 | ||||||||||||||||||||||||
| Net Income | 166.7 | 166.7 | ||||||||||||||||||||||||
| Other Comprehensive Loss | (0.1) | (0.1) | ||||||||||||||||||||||||
TOTAL COMMON SHAREHOLDER’S EQUITY – SEPTEMBER 30, 2025 | $ | 2,543.3 | $ | 3,184.6 | $ | (3.5) | $ | 5,724.4 | ||||||||||||||||||
| September 30, | December 31, | |||||||||||||
| 2025 | 2024 | |||||||||||||
| CURRENT ASSETS | ||||||||||||||
| Cash and Cash Equivalents | $ | 0.1 | $ | 0.1 | ||||||||||
Restricted Cash (September 30, 2025 and December 31, 2024 Amounts Include $7.3 and $23.5, Respectively, Related to Transition Funding and Restoration Funding) | 7.3 | 23.5 | ||||||||||||
| Advances to Affiliates | 425.3 | 7.2 | ||||||||||||
| Accounts Receivable: | ||||||||||||||
| Customers | 233.1 | 182.8 | ||||||||||||
| Affiliated Companies | 11.7 | 10.7 | ||||||||||||
| Accrued Unbilled Revenues | 122.8 | 97.2 | ||||||||||||
| Miscellaneous | 0.1 | 0.3 | ||||||||||||
| Allowance for Credit Losses | (4.1) | (4.3) | ||||||||||||
| Total Accounts Receivable | 363.6 | 286.7 | ||||||||||||
| Materials and Supplies | 149.8 | 169.5 | ||||||||||||
| Prepayments and Other Current Assets | 19.6 | 13.4 | ||||||||||||
| TOTAL CURRENT ASSETS | 965.7 | 500.4 | ||||||||||||
| PROPERTY, PLANT AND EQUIPMENT | ||||||||||||||
| Electric: | ||||||||||||||
Transmission | 8,008.7 | 7,546.2 | ||||||||||||
Distribution | 6,642.3 | 6,250.5 | ||||||||||||
| Other Property, Plant and Equipment | 1,203.1 | 1,175.7 | ||||||||||||
| Construction Work in Progress | 1,441.2 | 1,118.0 | ||||||||||||
| Total Property, Plant and Equipment | 17,295.3 | 16,090.4 | ||||||||||||
| Accumulated Depreciation and Amortization | 2,177.7 | 2,046.9 | ||||||||||||
| TOTAL PROPERTY, PLANT AND EQUIPMENT – NET | 15,117.6 | 14,043.5 | ||||||||||||
| OTHER NONCURRENT ASSETS | ||||||||||||||
| Regulatory Assets | 396.3 | 353.6 | ||||||||||||
Securitized Assets (September 30, 2025 and December 31, 2024 Amounts Include $99.4 and $116.7, Respectively, Related to Restoration Funding) | 99.4 | 116.7 | ||||||||||||
| Operating Lease Assets | 51.7 | 54.4 | ||||||||||||
| Deferred Charges and Other Noncurrent Assets | 181.8 | 131.0 | ||||||||||||
| TOTAL OTHER NONCURRENT ASSETS | 729.2 | 655.7 | ||||||||||||
| TOTAL ASSETS | $ | 16,812.5 | $ | 15,199.6 | ||||||||||
| September 30, | December 31, | |||||||||||||
| 2025 | 2024 | |||||||||||||
| CURRENT LIABILITIES | ||||||||||||||
| Advances from Affiliates | $ | — | $ | 284.9 | ||||||||||
| Accounts Payable: | ||||||||||||||
| General | 399.7 | 366.2 | ||||||||||||
| Affiliated Companies | 28.4 | 34.9 | ||||||||||||
Long-term Debt Due Within One Year – Nonaffiliated (September 30, 2025 and December 31, 2024 Amounts Include $25.0 and $24.4, Respectively, Related to Restoration Funding) | 325.0 | 324.5 | ||||||||||||
| Accrued Taxes | 143.8 | 127.1 | ||||||||||||
Accrued Interest (September 30, 2025 and December 31, 2024 Amounts Include $0.2 and $1.9, Respectively, Related to Restoration Funding) | 101.7 | 55.0 | ||||||||||||
| Obligations Under Operating Leases | 14.2 | 13.1 | ||||||||||||
| Other Current Liabilities | 246.0 | 201.4 | ||||||||||||
| TOTAL CURRENT LIABILITIES | 1,258.8 | 1,407.1 | ||||||||||||
| NONCURRENT LIABILITIES | ||||||||||||||
Long-term Debt – Nonaffiliated (September 30, 2025 and December 31, 2024 Amounts Include $77.6 and $102.4, Respectively, Related to Restoration Funding) | 6,939.5 | 6,117.1 | ||||||||||||
| Deferred Income Taxes | 1,418.4 | 1,322.7 | ||||||||||||
| Regulatory Liabilities and Deferred Investment Tax Credits | 1,295.8 | 1,285.4 | ||||||||||||
| Obligations Under Operating Leases | 39.8 | 43.4 | ||||||||||||
| Deferred Credits and Other Noncurrent Liabilities | 135.8 | 139.3 | ||||||||||||
| TOTAL NONCURRENT LIABILITIES | 9,829.3 | 8,907.9 | ||||||||||||
| TOTAL LIABILITIES | 11,088.1 | 10,315.0 | ||||||||||||
| Rate Matters (Note 4) | ||||||||||||||
| Commitments and Contingencies (Note 5) | ||||||||||||||
| COMMON SHAREHOLDER’S EQUITY | ||||||||||||||
| Paid-in Capital | 2,543.3 | 2,092.4 | ||||||||||||
| Retained Earnings | 3,184.6 | 2,795.2 | ||||||||||||
| Accumulated Other Comprehensive Income (Loss) | (3.5) | (3.0) | ||||||||||||
| TOTAL COMMON SHAREHOLDER’S EQUITY | 5,724.4 | 4,884.6 | ||||||||||||
| TOTAL LIABILITIES AND COMMON SHAREHOLDER’S EQUITY | $ | 16,812.5 | $ | 15,199.6 | ||||||||||
| As of September 30, | ||||||||||||||
| 2025 | 2024 | |||||||||||||
| (in millions) | ||||||||||||||
| Plant In Service | $ | 16,470.9 | $ | 14,720.4 | ||||||||||
| Construction Work in Progress | 2,097.6 | 2,188.6 | ||||||||||||
| Accumulated Depreciation and Amortization | 1,839.8 | 1,509.4 | ||||||||||||
| Total Transmission Property, Net | $ | 16,728.7 | $ | 15,399.6 | ||||||||||
| AEP Transmission Company, LLC and Subsidiaries | ||||||||||||||
| Reconciliation of 2024 to 2025 | ||||||||||||||
| Earnings Attributable to AEPTCo Common Shareholder | ||||||||||||||
| (in millions) | ||||||||||||||
| Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||
| 2024 Earnings Attributable to Common Shareholder | $ | 191.3 | $ | 548.2 | ||||||||||
| Changes in Transmission Revenues: | ||||||||||||||
| Transmission Revenues | 60.8 | 371.7 | ||||||||||||
| Total Change in Transmission Revenues | 60.8 | 371.7 | ||||||||||||
| Changes in Expenses and Other: | ||||||||||||||
| Other Operation and Maintenance | (12.5) | (8.9) | ||||||||||||
| Depreciation and Amortization | (13.1) | (33.5) | ||||||||||||
| Taxes Other Than Income Taxes | (6.2) | (7.2) | ||||||||||||
| Interest Income | (1.8) | (6.2) | ||||||||||||
| Allowance for Equity Funds Used During Construction | (3.5) | — | ||||||||||||
| Interest Expense | (7.0) | (12.4) | ||||||||||||
| Total Change in Expenses and Other | (44.1) | (68.2) | ||||||||||||
| Income Tax Expense | (2.5) | 181.8 | ||||||||||||
| Net Income Attributable to Noncontrolling Interest | (26.6) | (87.3) | ||||||||||||
| 2025 Earnings Attributable to Common Shareholder | $ | 178.9 | $ | 946.2 | ||||||||||
| Three Months Ended | Nine Months Ended | |||||||||||||||||||||||||
| September 30, | September 30, | |||||||||||||||||||||||||
| 2025 | 2024 | 2025 | 2024 | |||||||||||||||||||||||
| REVENUES | ||||||||||||||||||||||||||
| Transmission Revenues | $ | 107.9 | $ | 103.3 | $ | 324.6 | $ | 299.0 | ||||||||||||||||||
| Sales to AEP Affiliates | 450.1 | 404.4 | 1,350.2 | 1,188.2 | ||||||||||||||||||||||
| (Provision for)/Reversal of – Revenue Refund – Affiliated | — | (8.5) | 119.8 | (31.1) | ||||||||||||||||||||||
| (Provision for)/ Reversal of – Revenue Refund – Nonaffiliated | — | (2.2) | 32.2 | (3.9) | ||||||||||||||||||||||
| Other Revenues | — | 0.2 | 0.1 | 3.0 | ||||||||||||||||||||||
| TOTAL REVENUES | 558.0 | 497.2 | 1,826.9 | 1,455.2 | ||||||||||||||||||||||
| EXPENSES | ||||||||||||||||||||||||||
| Other Operation | 41.3 | 31.7 | 106.1 | 101.6 | ||||||||||||||||||||||
| Maintenance | 8.6 | 5.7 | 20.4 | 16.0 | ||||||||||||||||||||||
| Depreciation and Amortization | 121.3 | 108.2 | 354.3 | 320.8 | ||||||||||||||||||||||
| Taxes Other Than Income Taxes | 85.9 | 79.7 | 235.8 | 228.6 | ||||||||||||||||||||||
| TOTAL EXPENSES | 257.1 | 225.3 | 716.6 | 667.0 | ||||||||||||||||||||||
| OPERATING INCOME | 300.9 | 271.9 | 1,110.3 | 788.2 | ||||||||||||||||||||||
| Other Income (Expense): | ||||||||||||||||||||||||||
| Interest Income – Affiliated | 1.3 | 3.1 | 3.1 | 9.3 | ||||||||||||||||||||||
| Allowance for Equity Funds Used During Construction | 20.8 | 24.3 | 64.7 | 64.7 | ||||||||||||||||||||||
| Interest Expense | (61.3) | (54.3) | (172.9) | (160.5) | ||||||||||||||||||||||
| INCOME BEFORE INCOME TAX EXPENSE (BENEFIT) | 261.7 | 245.0 | 1,005.2 | 701.7 | ||||||||||||||||||||||
| Income Tax Expense (Benefit) | 56.2 | 53.7 | (28.3) | 153.5 | ||||||||||||||||||||||
| NET INCOME | 205.5 | 191.3 | 1,033.5 | 548.2 | ||||||||||||||||||||||
| Net Income Attributable to Noncontrolling Interest | 26.6 | — | 87.3 | — | ||||||||||||||||||||||
| EARNINGS ATTRIBUTABLE TO AEPTCo COMMON SHAREHOLDER | $ | 178.9 | $ | 191.3 | $ | 946.2 | $ | 548.2 | ||||||||||||||||||
| AEPTCo is wholly-owned by AEP Transmission Holdco. | ||||||||||||||||||||||||||
| Paid-in Capital | Retained Earnings | Noncontrolling Interest | Total | |||||||||||||||||||||||
| TOTAL MEMBER'S EQUITY – DECEMBER 31, 2023 | $ | 3,043.4 | $ | 3,289.9 | $ | — | $ | 6,333.3 | ||||||||||||||||||
| Capital Contribution from AEP Member | 25.0 | 25.0 | ||||||||||||||||||||||||
| Dividends Paid to AEP Member | (40.0) | (40.0) | ||||||||||||||||||||||||
| Net Income | 181.2 | 181.2 | ||||||||||||||||||||||||
| TOTAL MEMBER'S EQUITY – MARCH 31, 2024 | 3,068.4 | 3,431.1 | — | 6,499.5 | ||||||||||||||||||||||
| Capital Contribution from AEP Member | 9.6 | 9.6 | ||||||||||||||||||||||||
| Dividends Paid to AEP Member | (31.0) | (31.0) | ||||||||||||||||||||||||
| Net Income | 175.7 | 175.7 | ||||||||||||||||||||||||
| TOTAL MEMBER'S EQUITY – JUNE 30, 2024 | 3,078.0 | 3,575.8 | — | 6,653.8 | ||||||||||||||||||||||
| Return of Capital to AEP Member | (4.5) | (4.5) | ||||||||||||||||||||||||
| Dividends Paid to AEP Member | (26.0) | (26.0) | ||||||||||||||||||||||||
| Net Income | 191.3 | 191.3 | ||||||||||||||||||||||||
| TOTAL MEMBER'S EQUITY – SEPTEMBER 30, 2024 | $ | 3,073.5 | $ | 3,741.1 | $ | — | $ | 6,814.6 | ||||||||||||||||||
| TOTAL MEMBER'S EQUITY – DECEMBER 31, 2024 | $ | 3,100.6 | $ | 3,850.3 | $ | — | $ | 6,950.9 | ||||||||||||||||||
| Capital Contribution from AEP Member | 32.5 | 32.5 | ||||||||||||||||||||||||
| Dividends Paid to AEP Member | (42.5) | (42.5) | ||||||||||||||||||||||||
| Net Income | 211.5 | 211.5 | ||||||||||||||||||||||||
| TOTAL MEMBER'S EQUITY – MARCH 31, 2025 | 3,133.1 | 4,019.3 | — | 7,152.4 | ||||||||||||||||||||||
| Capital Contribution from AEP Member | 8.3 | 8.3 | ||||||||||||||||||||||||
| Dividends Paid to AEP Member | (2,835.8) | (2,835.8) | ||||||||||||||||||||||||
| Midwest Transmission Holdings Noncontrolling Interest Transaction | 1,790.5 | 992.4 | 2,782.9 | |||||||||||||||||||||||
| Net Income | 555.8 | 60.7 | 616.5 | |||||||||||||||||||||||
| TOTAL MEMBER'S EQUITY – JUNE 30, 2025 | 4,931.9 | 1,739.3 | 1,053.1 | 7,724.3 | ||||||||||||||||||||||
| Capital Contribution from AEP Member | 2.1 | 2.1 | ||||||||||||||||||||||||
| Capital Contribution from Noncontrolling Interest | 33.9 | 33.9 | ||||||||||||||||||||||||
| Dividends Paid to AEP Member | (184.3) | (184.3) | ||||||||||||||||||||||||
| Dividends Paid to Noncontrolling Interest | (68.5) | (68.5) | ||||||||||||||||||||||||
| Net Income | 178.9 | 26.6 | 205.5 | |||||||||||||||||||||||
| TOTAL MEMBER'S EQUITY – SEPTEMBER 30, 2025 | $ | 4,934.0 | $ | 1,733.9 | $ | 1,045.1 | $ | 7,713.0 | ||||||||||||||||||
| September 30, | December 31, | |||||||||||||
| 2025 | 2024 | |||||||||||||
| CURRENT ASSETS | ||||||||||||||
| Advances to Affiliates | $ | 67.6 | $ | 30.4 | ||||||||||
| Accounts Receivable: | ||||||||||||||
| Customers | 42.5 | 58.9 | ||||||||||||
| Affiliated Companies | 154.7 | 134.1 | ||||||||||||
| Miscellaneous | — | 1.3 | ||||||||||||
| Total Accounts Receivable | 197.2 | 194.3 | ||||||||||||
| Prepayments and Other Current Assets | 5.1 | 11.1 | ||||||||||||
| TOTAL CURRENT ASSETS | 269.9 | 235.8 | ||||||||||||
| TRANSMISSION PROPERTY | ||||||||||||||
| Transmission Property | 15,925.1 | 14,913.4 | ||||||||||||
| Other Property, Plant and Equipment | 545.8 | 516.1 | ||||||||||||
| Construction Work in Progress | 2,097.6 | 1,965.4 | ||||||||||||
| Total Transmission Property | 18,568.5 | 17,394.9 | ||||||||||||
| Accumulated Depreciation and Amortization | 1,839.8 | 1,578.4 | ||||||||||||
| TOTAL TRANSMISSION PROPERTY – NET | 16,728.7 | 15,816.5 | ||||||||||||
| OTHER NONCURRENT ASSETS | ||||||||||||||
| Regulatory Assets | 64.1 | 0.4 | ||||||||||||
| Deferred Property Taxes | 95.5 | 308.9 | ||||||||||||
| Deferred Charges and Other Noncurrent Assets | 50.4 | 8.7 | ||||||||||||
| TOTAL OTHER NONCURRENT ASSETS | 210.0 | 318.0 | ||||||||||||
| TOTAL ASSETS | $ | 17,208.6 | $ | 16,370.3 | ||||||||||
| September 30, | December 31, | |||||||||||||
| 2025 | 2024 | |||||||||||||
| (in millions) | ||||||||||||||
| CURRENT LIABILITIES | ||||||||||||||
| Advances from Affiliates | $ | 108.9 | $ | 84.7 | ||||||||||
| Accounts Payable: | ||||||||||||||
| General | 354.1 | 360.5 | ||||||||||||
| Affiliated Companies | 108.9 | 117.0 | ||||||||||||
| Long-term Debt Due Within One Year – Nonaffiliated | — | 90.0 | ||||||||||||
| Accrued Taxes | 401.1 | 665.9 | ||||||||||||
| Accrued Interest | 74.1 | 44.9 | ||||||||||||
| Obligations Under Operating Leases | 1.3 | 1.3 | ||||||||||||
| Other Current Liabilities | 28.6 | 44.5 | ||||||||||||
| TOTAL CURRENT LIABILITIES | 1,077.0 | 1,408.8 | ||||||||||||
| NONCURRENT LIABILITIES | ||||||||||||||
| Long-term Debt – Nonaffiliated | 6,240.4 | 5,678.1 | ||||||||||||
| Deferred Income Taxes | 1,480.4 | 1,278.6 | ||||||||||||
| Regulatory Liabilities | 675.6 | 878.4 | ||||||||||||
| Obligations Under Operating Leases | 1.7 | 1.2 | ||||||||||||
| Deferred Credits and Other Noncurrent Liabilities | 20.5 | 174.3 | ||||||||||||
| TOTAL NONCURRENT LIABILITIES | 8,418.6 | 8,010.6 | ||||||||||||
| TOTAL LIABILITIES | 9,495.6 | 9,419.4 | ||||||||||||
| Rate Matters (Note 4) | ||||||||||||||
| Commitments and Contingencies (Note 5) | ||||||||||||||
| MEMBER’S EQUITY | ||||||||||||||
| Paid-in Capital | 4,934.0 | 3,100.6 | ||||||||||||
| Retained Earnings | 1,733.9 | 3,850.3 | ||||||||||||
| TOTAL MEMBER’S EQUITY | 6,667.9 | 6,950.9 | ||||||||||||
| Noncontrolling Interest | 1,045.1 | — | ||||||||||||
| TOTAL EQUITY | 7,713.0 | 6,950.9 | ||||||||||||
| TOTAL LIABILITIES AND EQUITY | $ | 17,208.6 | $ | 16,370.3 | ||||||||||
| Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||||||||
| 2025 | 2024 | 2025 | 2024 | ||||||||||||||||||||
| (in millions of KWhs) | |||||||||||||||||||||||
| Retail: | |||||||||||||||||||||||
| Residential | 2,516 | 2,568 | 8,202 | 7,918 | |||||||||||||||||||
| Commercial | 1,530 | 1,553 | 4,495 | 4,482 | |||||||||||||||||||
| Industrial | 2,117 | 2,141 | 6,397 | 6,446 | |||||||||||||||||||
| Miscellaneous | 202 | 203 | 621 | 617 | |||||||||||||||||||
| Total Retail | 6,365 | 6,465 | 19,715 | 19,463 | |||||||||||||||||||
| Wholesale (a) | 966 | 550 | 2,269 | 1,768 | |||||||||||||||||||
| Total KWhs | 7,331 | 7,015 | 21,984 | 21,231 | |||||||||||||||||||
| Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||||||||
| 2025 | 2024 | 2025 | 2024 | ||||||||||||||||||||
| (in degree days) | |||||||||||||||||||||||
| Actual – Heating | — | — | 1,433 | 1,029 | |||||||||||||||||||
| Normal – Heating | 1 | 2 | 1,360 | 1,397 | |||||||||||||||||||
| Actual – Cooling | 748 | 962 | 1,176 | 1,499 | |||||||||||||||||||
| Normal – Cooling | 818 | 837 | 1,211 | 1,221 | |||||||||||||||||||
| Appalachian Power Company and Subsidiaries | ||||||||||||||
| Reconciliation of 2024 to 2025 Net Income | ||||||||||||||
| (in millions) | ||||||||||||||
| Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||
| 2024 Net Income | $ | 109.8 | $ | 304.6 | ||||||||||
| Changes in Revenues: | ||||||||||||||
| Retail Revenues | 13.4 | 111.5 | ||||||||||||
| Off-system Sales | 2.9 | 4.1 | ||||||||||||
| Transmission Revenues | 5.6 | 21.2 | ||||||||||||
| Other Revenues | 5.2 | 7.6 | ||||||||||||
| Total Change in Revenues | 27.1 | 144.4 | ||||||||||||
| Changes in Expenses and Other: | ||||||||||||||
| Purchased Electricity, Fuel and Other Consumables Used for Electric Generation | (15.7) | (12.1) | ||||||||||||
| Other Operation and Maintenance | (20.9) | (33.1) | ||||||||||||
| Depreciation and Amortization | (2.8) | (41.1) | ||||||||||||
| Taxes Other Than Income Taxes | (1.4) | 7.5 | ||||||||||||
| Interest Income | (1.3) | (0.6) | ||||||||||||
| Allowance for Equity Funds Used During Construction | — | 1.4 | ||||||||||||
| Non-Service Cost Components of Net Periodic Benefit Cost | (1.7) | (4.7) | ||||||||||||
| Interest Expense | (2.8) | (4.2) | ||||||||||||
| Total Change in Expenses and Other | (46.6) | (86.9) | ||||||||||||
| Income Tax Expense | (9.2) | (9.5) | ||||||||||||
| 2025 Net Income | $ | 81.1 | $ | 352.6 | ||||||||||
| Three Months Ended | Nine Months Ended | |||||||||||||||||||||||||
| September 30, | September 30, | |||||||||||||||||||||||||
| 2025 | 2024 | 2025 | 2024 | |||||||||||||||||||||||
| REVENUES | ||||||||||||||||||||||||||
| Electric Generation, Transmission and Distribution | $ | 981.7 | $ | 960.6 | $ | 2,955.4 | $ | 2,836.6 | ||||||||||||||||||
| Sales to AEP Affiliates | 70.3 | 65.2 | 208.5 | 183.1 | ||||||||||||||||||||||
| Other Revenues | 4.0 | 3.1 | 12.6 | 12.4 | ||||||||||||||||||||||
| TOTAL REVENUES | 1,056.0 | 1,028.9 | 3,176.5 | 3,032.1 | ||||||||||||||||||||||
| EXPENSES | ||||||||||||||||||||||||||
| Purchased Electricity, Fuel and Other Consumables Used for Electric Generation | 374.1 | 358.4 | 1,072.1 | 1,060.0 | ||||||||||||||||||||||
| Other Operation | 206.4 | 204.2 | 639.4 | 628.8 | ||||||||||||||||||||||
| Maintenance | 105.1 | 86.4 | 267.2 | 244.7 | ||||||||||||||||||||||
| Depreciation and Amortization | 151.8 | 149.0 | 485.6 | 444.5 | ||||||||||||||||||||||
| Taxes Other Than Income Taxes | 45.7 | 44.3 | 125.0 | 132.5 | ||||||||||||||||||||||
| TOTAL EXPENSES | 883.1 | 842.3 | 2,589.3 | 2,510.5 | ||||||||||||||||||||||
| OPERATING INCOME | 172.9 | 186.6 | 587.2 | 521.6 | ||||||||||||||||||||||
| Other Income (Expense): | ||||||||||||||||||||||||||
| Interest Income | 0.5 | 1.8 | 3.2 | 3.8 | ||||||||||||||||||||||
| Allowance for Equity Funds Used During Construction | 4.2 | 4.2 | 12.8 | 11.4 | ||||||||||||||||||||||
| Non-Service Cost Components of Net Periodic Benefit Cost | 5.2 | 6.9 | 15.7 | 20.4 | ||||||||||||||||||||||
| Interest Expense | (70.0) | (67.2) | (207.6) | (203.4) | ||||||||||||||||||||||
| INCOME BEFORE INCOME TAX EXPENSE | 112.8 | 132.3 | 411.3 | 353.8 | ||||||||||||||||||||||
| Income Tax Expense | 31.7 | 22.5 | 58.7 | 49.2 | ||||||||||||||||||||||
| NET INCOME | $ | 81.1 | $ | 109.8 | $ | 352.6 | $ | 304.6 | ||||||||||||||||||
| The common stock of APCo is wholly-owned by Parent. | ||||||||||||||||||||||||||
| Three Months Ended | Nine Months Ended | |||||||||||||||||||||||||
| September 30, | September 30, | |||||||||||||||||||||||||
| 2025 | 2024 | 2025 | 2024 | |||||||||||||||||||||||
| Net Income | $ | 81.1 | $ | 109.8 | $ | 352.6 | $ | 304.6 | ||||||||||||||||||
| OTHER COMPREHENSIVE LOSS, NET OF TAXES | ||||||||||||||||||||||||||
Cash Flow Hedges, Net of Tax of $(0.1) and $(0.1) for the Three Months Ended September 30, 2025 and 2024, Respectively, and $(0.2) and $(0.2) for the Nine Months Ended September 30, 2025 and 2024, Respectively | (0.2) | (0.2) | (0.6) | (0.6) | ||||||||||||||||||||||
Amortization of Pension and OPEB Deferred Costs, Net of Tax of $0 and $(0.1) for the Three Months Ended September 30, 2025 and 2024, Respectively, and $(0.1) and $(0.2) for the Nine Months Ended September 30, 2025 and 2024, Respectively | (0.1) | (0.2) | (0.3) | (0.8) | ||||||||||||||||||||||
| TOTAL OTHER COMPREHENSIVE LOSS | (0.3) | (0.4) | (0.9) | (1.4) | ||||||||||||||||||||||
| TOTAL COMPREHENSIVE INCOME | $ | 80.8 | $ | 109.4 | $ | 351.7 | $ | 303.2 | ||||||||||||||||||
| Common Stock | Paid-in Capital | Retained Earnings | Accumulated Other Comprehensive Income (Loss) | Total | ||||||||||||||||||||||||||||
| TOTAL COMMON SHAREHOLDER'S EQUITY - DECEMBER 31, 2023 | $ | 260.4 | $ | 1,834.5 | $ | 3,185.5 | $ | (3.7) | $ | 5,276.7 | ||||||||||||||||||||||
| Capital Contribution from Parent | 100.0 | 100.0 | ||||||||||||||||||||||||||||||
| Net Income | 136.5 | 136.5 | ||||||||||||||||||||||||||||||
| Other Comprehensive Loss | (0.5) | (0.5) | ||||||||||||||||||||||||||||||
| TOTAL COMMON SHAREHOLDER'S EQUITY - MARCH 31, 2024 | 260.4 | 1,934.5 | 3,322.0 | (4.2) | 5,512.7 | |||||||||||||||||||||||||||
| Capital Contribution from Parent | 9.5 | 9.5 | ||||||||||||||||||||||||||||||
| Net Income | 58.3 | 58.3 | ||||||||||||||||||||||||||||||
| Other Comprehensive Loss | (0.5) | (0.5) | ||||||||||||||||||||||||||||||
| TOTAL COMMON SHAREHOLDER'S EQUITY - JUNE 30, 2024 | 260.4 | 1,944.0 | 3,380.3 | (4.7) | 5,580.0 | |||||||||||||||||||||||||||
| Return of Capital to Parent | (4.5) | (4.5) | ||||||||||||||||||||||||||||||
| Common Stock Dividends | (75.0) | (75.0) | ||||||||||||||||||||||||||||||
| Net Income | 109.8 | 109.8 | ||||||||||||||||||||||||||||||
| Other Comprehensive Loss | (0.4) | (0.4) | ||||||||||||||||||||||||||||||
TOTAL COMMON SHAREHOLDER’S EQUITY – SEPTEMBER 30, 2024 | $ | 260.4 | $ | 1,939.5 | $ | 3,415.1 | $ | (5.1) | $ | 5,609.9 | ||||||||||||||||||||||
| TOTAL COMMON SHAREHOLDER'S EQUITY - DECEMBER 31, 2024 | $ | 260.4 | $ | 1,944.1 | $ | 3,532.2 | $ | 11.3 | $ | 5,748.0 | ||||||||||||||||||||||
| Common Stock Dividends | (50.0) | (50.0) | ||||||||||||||||||||||||||||||
| Net Income | 164.6 | 164.6 | ||||||||||||||||||||||||||||||
| Other Comprehensive Loss | (0.3) | (0.3) | ||||||||||||||||||||||||||||||
| TOTAL COMMON SHAREHOLDER'S EQUITY - MARCH 31, 2025 | 260.4 | 1,944.1 | 3,646.8 | 11.0 | 5,862.3 | |||||||||||||||||||||||||||
| Capital Contribution from Parent | 7.2 | 7.2 | ||||||||||||||||||||||||||||||
| Net Income | 106.9 | 106.9 | ||||||||||||||||||||||||||||||
| Other Comprehensive Loss | (0.3) | (0.3) | ||||||||||||||||||||||||||||||
| TOTAL COMMON SHAREHOLDER'S EQUITY - JUNE 30, 2025 | 260.4 | 1,951.3 | 3,753.7 | 10.7 | 5,976.1 | |||||||||||||||||||||||||||
| Capital Contribution from Parent | 1.3 | 1.3 | ||||||||||||||||||||||||||||||
| Net Income | 81.1 | 81.1 | ||||||||||||||||||||||||||||||
| Other Comprehensive Loss | (0.3) | (0.3) | ||||||||||||||||||||||||||||||
| TOTAL COMMON SHAREHOLDER'S EQUITY - SEPTEMBER 30, 2025 | $ | 260.4 | $ | 1,952.6 | $ | 3,834.8 | $ | 10.4 | $ | 6,058.2 | ||||||||||||||||||||||
| September 30, | December 31, | |||||||||||||
| 2025 | 2024 | |||||||||||||
| CURRENT ASSETS | ||||||||||||||
| Cash and Cash Equivalents | $ | 3.9 | $ | 3.9 | ||||||||||
| Restricted Cash for Securitized Funding | 10.8 | 16.2 | ||||||||||||
| Advances to Affiliates | 49.6 | 17.7 | ||||||||||||
| Accounts Receivable: | ||||||||||||||
| Customers | 194.5 | 185.7 | ||||||||||||
| Affiliated Companies | 120.4 | 110.5 | ||||||||||||
| Accrued Unbilled Revenues | 45.5 | 93.1 | ||||||||||||
| Miscellaneous | 0.3 | 0.3 | ||||||||||||
| Allowance for Credit Losses | (2.1) | (2.0) | ||||||||||||
| Total Accounts Receivable | 358.6 | 387.6 | ||||||||||||
| Fuel | 268.1 | 308.0 | ||||||||||||
| Materials and Supplies | 134.8 | 131.7 | ||||||||||||
| Risk Management Assets | 92.0 | 35.7 | ||||||||||||
| Regulatory Asset for Under-Recovered Fuel Costs | 79.3 | 148.1 | ||||||||||||
| Prepayments and Other Current Assets | 37.9 | 46.0 | ||||||||||||
| TOTAL CURRENT ASSETS | 1,035.0 | 1,094.9 | ||||||||||||
| PROPERTY, PLANT AND EQUIPMENT | ||||||||||||||
| Electric: | ||||||||||||||
| Generation | 7,282.2 | 7,272.6 | ||||||||||||
| Transmission | 5,140.2 | 5,001.5 | ||||||||||||
| Distribution | 5,827.3 | 5,568.5 | ||||||||||||
| Other Property, Plant and Equipment | 1,141.4 | 1,062.9 | ||||||||||||
| Construction Work in Progress | 845.1 | 742.6 | ||||||||||||
| Total Property, Plant and Equipment | 20,236.2 | 19,648.1 | ||||||||||||
| Accumulated Depreciation and Amortization | 6,297.0 | 6,035.6 | ||||||||||||
| TOTAL PROPERTY, PLANT AND EQUIPMENT – NET | 13,939.2 | 13,612.5 | ||||||||||||
| OTHER NONCURRENT ASSETS | ||||||||||||||
| Regulatory Assets | 1,498.9 | 1,366.0 | ||||||||||||
| Securitized Assets | 85.1 | 106.2 | ||||||||||||
| Employee Benefits and Pension Assets | 215.5 | 203.9 | ||||||||||||
| Operating Lease Assets | 68.0 | 67.0 | ||||||||||||
| Deferred Charges and Other Noncurrent Assets | 151.4 | 215.4 | ||||||||||||
| TOTAL OTHER NONCURRENT ASSETS | 2,018.9 | 1,958.5 | ||||||||||||
| TOTAL ASSETS | $ | 16,993.1 | $ | 16,665.9 | ||||||||||
| September 30, | December 31, | |||||||||||||
| 2025 | 2024 | |||||||||||||
| (in millions) | ||||||||||||||
| CURRENT LIABILITIES | ||||||||||||||
| Advances from Affiliates | $ | — | $ | 95.0 | ||||||||||
| Accounts Payable: | ||||||||||||||
| General | 418.6 | 427.2 | ||||||||||||
| Affiliated Companies | 213.2 | 205.9 | ||||||||||||
| Long-term Debt Due Within One Year – Nonaffiliated | 206.2 | 798.6 | ||||||||||||
| Customer Deposits | 95.4 | 86.6 | ||||||||||||
| Accrued Taxes | 96.9 | 168.8 | ||||||||||||
| Accrued Interest | 91.6 | 63.7 | ||||||||||||
| Obligations Under Operating Leases | 16.0 | 13.7 | ||||||||||||
| Other Current Liabilities | 140.4 | 166.0 | ||||||||||||
| TOTAL CURRENT LIABILITIES | 1,278.3 | 2,025.5 | ||||||||||||
| NONCURRENT LIABILITIES | ||||||||||||||
| Long-term Debt – Nonaffiliated | 5,551.9 | 4,861.7 | ||||||||||||
| Deferred Income Taxes | 2,115.5 | 2,033.5 | ||||||||||||
| Regulatory Liabilities and Deferred Investment Tax Credits | 1,084.6 | 1,115.8 | ||||||||||||
| Asset Retirement Obligations | 789.8 | 767.4 | ||||||||||||
| Employee Benefits and Pension Obligations | 27.8 | 29.6 | ||||||||||||
| Obligations Under Operating Leases | 52.6 | 54.0 | ||||||||||||
| Deferred Credits and Other Noncurrent Liabilities | 34.4 | 30.4 | ||||||||||||
| TOTAL NONCURRENT LIABILITIES | 9,656.6 | 8,892.4 | ||||||||||||
| TOTAL LIABILITIES | 10,934.9 | 10,917.9 | ||||||||||||
| Rate Matters (Note 4) | ||||||||||||||
| Commitments and Contingencies (Note 5) | ||||||||||||||
| COMMON SHAREHOLDER’S EQUITY | ||||||||||||||
Common Stock – No Par Value: | ||||||||||||||
Authorized – 30,000,000 Shares | ||||||||||||||
Outstanding – 13,499,500 Shares | 260.4 | 260.4 | ||||||||||||
| Paid-in Capital | 1,952.6 | 1,944.1 | ||||||||||||
| Retained Earnings | 3,834.8 | 3,532.2 | ||||||||||||
| Accumulated Other Comprehensive Income (Loss) | 10.4 | 11.3 | ||||||||||||
| TOTAL COMMON SHAREHOLDER’S EQUITY | 6,058.2 | 5,748.0 | ||||||||||||
| TOTAL LIABILITIES AND COMMON SHAREHOLDER’S EQUITY | $ | 16,993.1 | $ | 16,665.9 | ||||||||||
| Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||||||||
| 2025 | 2024 | 2025 | 2024 | ||||||||||||||||||||
| (in millions of KWhs) | |||||||||||||||||||||||
| Retail: | |||||||||||||||||||||||
| Residential | 1,568 | 1,552 | 4,218 | 4,152 | |||||||||||||||||||
| Commercial | 1,866 | 1,450 | 4,552 | 4,015 | |||||||||||||||||||
| Industrial | 1,825 | 1,901 | 5,429 | 5,562 | |||||||||||||||||||
| Miscellaneous | 10 | 10 | 32 | 35 | |||||||||||||||||||
| Total Retail | 5,269 | 4,913 | 14,231 | 13,764 | |||||||||||||||||||
| Wholesale (a) | 1,423 | 1,305 | 5,366 | 4,042 | |||||||||||||||||||
| Total KWhs | 6,692 | 6,218 | 19,597 | 17,806 | |||||||||||||||||||
| Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||||||||
| 2025 | 2024 | 2025 | 2024 | ||||||||||||||||||||
| (in degree days) | |||||||||||||||||||||||
| Actual – Heating | — | — | 2,335 | 1,826 | |||||||||||||||||||
| Normal – Heating | 6 | 6 | 2,371 | 2,428 | |||||||||||||||||||
| Actual – Cooling | 622 | 608 | 902 | 965 | |||||||||||||||||||
| Normal – Cooling | 582 | 583 | 867 | 852 | |||||||||||||||||||
| Indiana Michigan Power Company and Subsidiaries | ||||||||||||||
| Reconciliation of 2024 to 2025 Net Income | ||||||||||||||
| (in millions) | ||||||||||||||
| Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||
| 2024 Net Income | $ | 179.1 | $ | 359.3 | ||||||||||
| Changes in Revenues: | ||||||||||||||
| Retail Revenues | 49.8 | 174.3 | ||||||||||||
| Off-system Sales | 26.4 | 89.1 | ||||||||||||
| Transmission Revenues | 2.2 | 12.9 | ||||||||||||
| Other Revenues | 0.3 | 0.1 | ||||||||||||
| Total Change in Revenues | 78.7 | 276.4 | ||||||||||||
| Changes in Expenses and Other: | ||||||||||||||
| Purchased Electricity, Fuel and Other Consumables Used for Electric Generation | (39.6) | (139.1) | ||||||||||||
| Purchased Electricity from AEP Affiliates | (8.9) | (45.3) | ||||||||||||
| Other Operation and Maintenance | (21.5) | (33.7) | ||||||||||||
| Asset Impairments and Other Related Charges | — | 13.4 | ||||||||||||
| Depreciation and Amortization | (1.1) | (27.2) | ||||||||||||
| Taxes Other Than Income Taxes | (2.0) | (1.9) | ||||||||||||
| Other Income | 2.3 | 4.3 | ||||||||||||
| Non-Service Cost Components of Net Periodic Benefit Cost | (2.0) | (4.8) | ||||||||||||
| Interest Expense | (2.3) | (12.8) | ||||||||||||
| Total Change in Expenses and Other | (75.1) | (247.1) | ||||||||||||
| Income Tax Benefit | (33.0) | (57.3) | ||||||||||||
| 2025 Net Income | $ | 149.7 | $ | 331.3 | ||||||||||
| Three Months Ended | Nine Months Ended | |||||||||||||||||||||||||
| September 30, | September 30, | |||||||||||||||||||||||||
| 2025 | 2024 | 2025 | 2024 | |||||||||||||||||||||||
| REVENUES | ||||||||||||||||||||||||||
| Electric Generation, Transmission and Distribution | $ | 841.2 | $ | 727.2 | $ | 2,335.9 | $ | 1,959.5 | ||||||||||||||||||
| Sales to AEP Affiliates | 3.9 | 2.2 | 9.3 | 9.9 | ||||||||||||||||||||||
| (Provision for)/Reversal of – Revenue Refund – Affiliated | — | (0.9) | 8.5 | (4.7) | ||||||||||||||||||||||
| Provision for Refund – Nonaffiliated | (51.0) | (12.3) | (134.9) | (27.2) | ||||||||||||||||||||||
| Other Revenues – Affiliated | 16.9 | 15.2 | 46.8 | 50.7 | ||||||||||||||||||||||
| Other Revenues – Nonaffiliated | 1.2 | 2.1 | 6.0 | 7.0 | ||||||||||||||||||||||
| TOTAL REVENUES | 812.2 | 733.5 | 2,271.6 | 1,995.2 | ||||||||||||||||||||||
| EXPENSES | ||||||||||||||||||||||||||
| Purchased Electricity, Fuel and Other Consumables Used for Electric Generation | 157.8 | 118.2 | 466.0 | 326.9 | ||||||||||||||||||||||
| Purchased Electricity from AEP Affiliates | 71.9 | 63.0 | 214.3 | 169.0 | ||||||||||||||||||||||
| Other Operation | 188.8 | 180.0 | 537.2 | 548.5 | ||||||||||||||||||||||
| Maintenance | 70.8 | 58.1 | 218.7 | 173.7 | ||||||||||||||||||||||
| Asset Impairments and Other Related Charges | — | — | — | 13.4 | ||||||||||||||||||||||
| Depreciation and Amortization | 133.7 | 132.6 | 386.4 | 359.2 | ||||||||||||||||||||||
| Taxes Other Than Income Taxes | 23.0 | 21.0 | 70.8 | 68.9 | ||||||||||||||||||||||
| TOTAL EXPENSES | 646.0 | 572.9 | 1,893.4 | 1,659.6 | ||||||||||||||||||||||
| OPERATING INCOME | 166.2 | 160.6 | 378.2 | 335.6 | ||||||||||||||||||||||
| Other Income (Expense): | ||||||||||||||||||||||||||
| Other Income | 5.6 | 3.3 | 14.0 | 9.7 | ||||||||||||||||||||||
| Non-Service Cost Components of Net Periodic Benefit Cost | 4.8 | 6.8 | 15.2 | 20.0 | ||||||||||||||||||||||
| Interest Expense | (38.0) | (35.7) | (111.7) | (98.9) | ||||||||||||||||||||||
| INCOME BEFORE INCOME TAX EXPENSE (BENEFIT) | 138.6 | 135.0 | 295.7 | 266.4 | ||||||||||||||||||||||
| Income Tax Expense (Benefit) | (11.1) | (44.1) | (35.6) | (92.9) | ||||||||||||||||||||||
| NET INCOME | $ | 149.7 | $ | 179.1 | $ | 331.3 | $ | 359.3 | ||||||||||||||||||
| The common stock of I&M is wholly-owned by Parent. | ||||||||||||||||||||||||||
| Three Months Ended | Nine Months Ended | |||||||||||||||||||||||||
| September 30, | September 30, | |||||||||||||||||||||||||
| 2025 | 2024 | 2025 | 2024 | |||||||||||||||||||||||
| Net Income | $ | 149.7 | $ | 179.1 | $ | 331.3 | $ | 359.3 | ||||||||||||||||||
| OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAXES | ||||||||||||||||||||||||||
Cash Flow Hedges, Net of Tax of $0 and $0 for the Three Months Ended September 30, 2025 and 2024, Respectively, and $0.1 and $0.1 for the Nine Months Ended September 30, 2025 and 2024, Respectively | 0.2 | 0.1 | 0.4 | 0.3 | ||||||||||||||||||||||
Amortization of Pension and OPEB Deferred Costs, Net of Tax of $0 and $0 for the Three Months Ended September 30, 2025 and 2024, Respectively, and $0 and $0 for the Nine Months Ended September 30, 2025 and 2024, Respectively | — | — | 0.1 | (0.1) | ||||||||||||||||||||||
| TOTAL OTHER COMPREHENSIVE INCOME | 0.2 | 0.1 | 0.5 | 0.2 | ||||||||||||||||||||||
| TOTAL COMPREHENSIVE INCOME | $ | 149.9 | $ | 179.2 | $ | 331.8 | $ | 359.5 | ||||||||||||||||||
| Common Stock | Paid-in Capital | Retained Earnings | Accumulated Other Comprehensive Income (Loss) | Total | ||||||||||||||||||||||||||||
TOTAL COMMON SHAREHOLDER’S EQUITY - DECEMBER 31, 2023 | $ | 56.6 | $ | 997.6 | $ | 2,086.6 | $ | (0.6) | $ | 3,140.2 | ||||||||||||||||||||||
| Common Stock Dividends | (37.5) | (37.5) | ||||||||||||||||||||||||||||||
| Net Income | 145.0 | 145.0 | ||||||||||||||||||||||||||||||
| Other Comprehensive Income | 0.1 | 0.1 | ||||||||||||||||||||||||||||||
| TOTAL COMMON SHAREHOLDER'S EQUITY - MARCH 31, 2024 | 56.6 | 997.6 | 2,194.1 | (0.5) | 3,247.8 | |||||||||||||||||||||||||||
| Capital Contribution from Parent | 5.0 | 5.0 | ||||||||||||||||||||||||||||||
| Common Stock Dividends | (37.5) | (37.5) | ||||||||||||||||||||||||||||||
| Net Income | 35.2 | 35.2 | ||||||||||||||||||||||||||||||
| TOTAL COMMON SHAREHOLDER'S EQUITY - JUNE 30, 2024 | 56.6 | 1,002.6 | 2,191.8 | (0.5) | 3,250.5 | |||||||||||||||||||||||||||
| Return of Capital to Parent | (1.8) | (1.8) | ||||||||||||||||||||||||||||||
| Common Stock Dividends | (37.5) | (37.5) | ||||||||||||||||||||||||||||||
| Net Income | 179.1 | 179.1 | ||||||||||||||||||||||||||||||
| Other Comprehensive Income | 0.1 | 0.1 | ||||||||||||||||||||||||||||||
| TOTAL COMMON SHAREHOLDER'S EQUITY - SEPTEMBER 30, 2024 | $ | 56.6 | $ | 1,000.8 | $ | 2,333.4 | $ | (0.4) | $ | 3,390.4 | ||||||||||||||||||||||
TOTAL COMMON SHAREHOLDER’S EQUITY - DECEMBER 31, 2024 | $ | 56.6 | $ | 1,011.7 | $ | 2,328.0 | $ | 0.2 | $ | 3,396.5 | ||||||||||||||||||||||
| Common Stock Dividends | (50.0) | (50.0) | ||||||||||||||||||||||||||||||
| Net Income | 57.5 | 57.5 | ||||||||||||||||||||||||||||||
| Other Comprehensive Income | 0.1 | 0.1 | ||||||||||||||||||||||||||||||
| TOTAL COMMON SHAREHOLDER'S EQUITY - MARCH 31, 2025 | 56.6 | 1,011.7 | 2,335.5 | 0.3 | 3,404.1 | |||||||||||||||||||||||||||
| Capital Contribution from Parent | 7.4 | 7.4 | ||||||||||||||||||||||||||||||
| Net Income | 124.1 | 124.1 | ||||||||||||||||||||||||||||||
| Other Comprehensive Income | 0.2 | 0.2 | ||||||||||||||||||||||||||||||
| TOTAL COMMON SHAREHOLDER'S EQUITY - JUNE 30, 2025 | 56.6 | 1,019.1 | 2,459.6 | 0.5 | 3,535.8 | |||||||||||||||||||||||||||
| Capital Contribution from Parent | 1.3 | 1.3 | ||||||||||||||||||||||||||||||
| Net Income | 149.7 | 149.7 | ||||||||||||||||||||||||||||||
| Other Comprehensive Income | 0.2 | 0.2 | ||||||||||||||||||||||||||||||
| TOTAL COMMON SHAREHOLDER'S EQUITY - SEPTEMBER 30, 2025 | $ | 56.6 | $ | 1,020.4 | $ | 2,609.3 | $ | 0.7 | $ | 3,687.0 | ||||||||||||||||||||||
| September 30, | December 31, | |||||||||||||
| 2025 | 2024 | |||||||||||||
| CURRENT ASSETS | ||||||||||||||
| Cash and Cash Equivalents | $ | 1.8 | $ | 1.5 | ||||||||||
| Advances to Affiliates | 157.2 | — | ||||||||||||
| Accounts Receivable: | ||||||||||||||
| Customers | 67.6 | 58.7 | ||||||||||||
| Affiliated Companies | 84.6 | 79.1 | ||||||||||||
| Accrued Unbilled Revenues | 14.1 | 21.4 | ||||||||||||
| Miscellaneous | 0.6 | 6.3 | ||||||||||||
| Total Accounts Receivable | 166.9 | 165.5 | ||||||||||||
| Fuel | 47.9 | 83.4 | ||||||||||||
| Materials and Supplies | 208.8 | 212.2 | ||||||||||||
| Risk Management Assets | 10.9 | 18.4 | ||||||||||||
| Regulatory Asset for Under-Recovered Fuel Costs | — | 10.6 | ||||||||||||
| Prepayments and Other Current Assets | 53.0 | 52.0 | ||||||||||||
| TOTAL CURRENT ASSETS | 646.5 | 543.6 | ||||||||||||
| PROPERTY, PLANT AND EQUIPMENT | ||||||||||||||
| Electric: | ||||||||||||||
| Generation | 5,466.5 | 5,503.0 | ||||||||||||
| Transmission | 2,010.4 | 1,957.8 | ||||||||||||
| Distribution | 3,752.5 | 3,535.0 | ||||||||||||
| Other Property, Plant and Equipment (Including Coal Mining and Nuclear Fuel) | 1,035.8 | 992.4 | ||||||||||||
| Construction Work in Progress | 416.9 | 334.9 | ||||||||||||
| Total Property, Plant and Equipment | 12,682.1 | 12,323.1 | ||||||||||||
| Accumulated Depreciation, Depletion and Amortization | 4,839.0 | 4,643.8 | ||||||||||||
| TOTAL PROPERTY, PLANT AND EQUIPMENT – NET | 7,843.1 | 7,679.3 | ||||||||||||
| OTHER NONCURRENT ASSETS | ||||||||||||||
| Regulatory Assets | 620.4 | 548.1 | ||||||||||||
| Spent Nuclear Fuel and Decommissioning Trusts | 4,858.9 | 4,395.1 | ||||||||||||
| Operating Lease Assets | 56.1 | 51.5 | ||||||||||||
| Deferred Charges and Other Noncurrent Assets | 286.9 | 317.9 | ||||||||||||
| TOTAL OTHER NONCURRENT ASSETS | 5,822.3 | 5,312.6 | ||||||||||||
| TOTAL ASSETS | $ | 14,311.9 | $ | 13,535.5 | ||||||||||
| September 30, | December 31, | |||||||||||||
| 2025 | 2024 | |||||||||||||
| CURRENT LIABILITIES | ||||||||||||||
| Advances from Affiliates | $ | — | $ | 126.8 | ||||||||||
| Accounts Payable: | ||||||||||||||
| General | 211.2 | 202.2 | ||||||||||||
| Affiliated Companies | 144.0 | 98.5 | ||||||||||||
Long-term Debt Due Within One Year – Nonaffiliated (September 30, 2025 and December 31, 2024 Amounts Include $86.3 and $79.0, Respectively, Related to DCC Fuel) | 86.3 | 269.2 | ||||||||||||
| Customer Deposits | 54.7 | 59.1 | ||||||||||||
| Accrued Taxes | 82.9 | 102.2 | ||||||||||||
| Accrued Interest | 38.7 | 41.3 | ||||||||||||
| Obligations Under Operating Leases | 16.4 | 12.3 | ||||||||||||
| Regulatory Liability for Over-Recovered Fuel Costs | 21.1 | 10.3 | ||||||||||||
| Other Current Liabilities | 200.3 | 149.3 | ||||||||||||
| TOTAL CURRENT LIABILITIES | 855.6 | 1,071.2 | ||||||||||||
| NONCURRENT LIABILITIES | ||||||||||||||
| Long-term Debt – Nonaffiliated | 3,398.8 | 3,225.1 | ||||||||||||
| Deferred Income Taxes | 1,179.7 | 1,175.8 | ||||||||||||
| Regulatory Liabilities and Deferred Investment Tax Credits | 2,893.1 | 2,480.8 | ||||||||||||
| Asset Retirement Obligations | 2,156.3 | 2,088.8 | ||||||||||||
| Obligations Under Operating Leases | 40.6 | 40.1 | ||||||||||||
| Deferred Credits and Other Noncurrent Liabilities | 100.8 | 57.2 | ||||||||||||
| TOTAL NONCURRENT LIABILITIES | 9,769.3 | 9,067.8 | ||||||||||||
| TOTAL LIABILITIES | 10,624.9 | 10,139.0 | ||||||||||||
| Rate Matters (Note 4) | ||||||||||||||
| Commitments and Contingencies (Note 5) | ||||||||||||||
| COMMON SHAREHOLDER’S EQUITY | ||||||||||||||
Common Stock – No Par Value: | ||||||||||||||
Authorized – 2,500,000 Shares | ||||||||||||||
Outstanding – 1,400,000 Shares | 56.6 | 56.6 | ||||||||||||
| Paid-in Capital | 1,020.4 | 1,011.7 | ||||||||||||
| Retained Earnings | 2,609.3 | 2,328.0 | ||||||||||||
| Accumulated Other Comprehensive Income (Loss) | 0.7 | 0.2 | ||||||||||||
| TOTAL COMMON SHAREHOLDER’S EQUITY | 3,687.0 | 3,396.5 | ||||||||||||
| TOTAL LIABILITIES AND COMMON SHAREHOLDER’S EQUITY | $ | 14,311.9 | $ | 13,535.5 | ||||||||||
| Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||||||||
| 2025 | 2024 | 2025 | 2024 | ||||||||||||||||||||
| (in millions of KWhs) | |||||||||||||||||||||||
| Retail: | |||||||||||||||||||||||
| Residential | 4,121 | 4,090 | 11,240 | 10,905 | |||||||||||||||||||
| Commercial | 7,391 | 5,388 | 19,203 | 15,138 | |||||||||||||||||||
| Industrial | 3,520 | 3,544 | 10,654 | 10,585 | |||||||||||||||||||
| Miscellaneous | 23 | 24 | 76 | 77 | |||||||||||||||||||
| Total Retail (a) | 15,055 | 13,046 | 41,173 | 36,705 | |||||||||||||||||||
| Wholesale (b) | 552 | 504 | 1,683 | 1,347 | |||||||||||||||||||
| Total KWhs | 15,607 | 13,550 | 42,856 | 38,052 | |||||||||||||||||||
| Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||||||||
| 2025 | 2024 | 2025 | 2024 | ||||||||||||||||||||
| (in degree days) | |||||||||||||||||||||||
| Actual – Heating | — | — | 2,077 | 1,573 | |||||||||||||||||||
| Normal – Heating | 3 | 4 | 1,996 | 2,056 | |||||||||||||||||||
| Actual – Cooling | 734 | 844 | 1,076 | 1,266 | |||||||||||||||||||
| Normal – Cooling | 707 | 699 | 1,032 | 1,008 | |||||||||||||||||||
| Ohio Power Company and Subsidiaries | ||||||||||||||
| Reconciliation of 2024 to 2025 Net Income | ||||||||||||||
| (in millions) | ||||||||||||||
| Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||
| 2024 Net Income | $ | 112.7 | $ | 201.7 | ||||||||||
| Changes in Revenues: | ||||||||||||||
| Retail Revenues | 40.5 | 23.1 | ||||||||||||
| Off-system Sales | 16.1 | 41.9 | ||||||||||||
| Transmission Revenues | 4.5 | 10.7 | ||||||||||||
| Other Revenues | 4.9 | (7.3) | ||||||||||||
| Total Change in Revenues | 66.0 | 68.4 | ||||||||||||
| Changes in Expenses and Other: | ||||||||||||||
| Purchased Electricity for Resale | (46.3) | (38.4) | ||||||||||||
| Purchased Electricity from AEP Affiliates | (4.3) | 37.1 | ||||||||||||
| Other Operation and Maintenance | (2.9) | (30.1) | ||||||||||||
| Asset Impairments and Other Related Charges | — | 52.9 | ||||||||||||
| Depreciation and Amortization | (10.5) | 8.6 | ||||||||||||
| Taxes Other Than Income Taxes | (7.6) | 1.5 | ||||||||||||
| Other Income | (0.9) | (0.9) | ||||||||||||
| Allowance for Equity Funds Used During Construction | (1.2) | 3.1 | ||||||||||||
| Non-Service Cost Components of Net Periodic Benefit Cost | (1.2) | (3.4) | ||||||||||||
| Interest Expense | (0.9) | (7.7) | ||||||||||||
| Total Change in Expenses and Other | (75.8) | 22.7 | ||||||||||||
| Income Tax Expense | (2.1) | (28.4) | ||||||||||||
| Equity Earnings of Unconsolidated Subsidiaries | 0.1 | 2.3 | ||||||||||||
| 2025 Net Income | $ | 100.9 | $ | 266.7 | ||||||||||
| Three Months Ended | Nine Months Ended | |||||||||||||||||||||||||
| September 30, | September 30, | |||||||||||||||||||||||||
| 2025 | 2024 | 2025 | 2024 | |||||||||||||||||||||||
| REVENUES | ||||||||||||||||||||||||||
| Electricity, Transmission and Distribution | $ | 1,058.9 | $ | 995.8 | $ | 2,959.2 | $ | 2,899.0 | ||||||||||||||||||
| Sales to AEP Affiliates | 7.7 | 5.6 | 23.7 | 17.0 | ||||||||||||||||||||||
| Other Revenues | 3.6 | 2.8 | 9.8 | 8.3 | ||||||||||||||||||||||
| TOTAL REVENUES | 1,070.2 | 1,004.2 | 2,992.7 | 2,924.3 | ||||||||||||||||||||||
| EXPENSES | ||||||||||||||||||||||||||
| Purchased Electricity for Resale | 245.4 | 199.1 | 681.2 | 642.8 | ||||||||||||||||||||||
| Purchased Electricity from AEP Affiliates | 18.4 | 14.1 | 49.1 | 86.2 | ||||||||||||||||||||||
| Other Operation | 340.6 | 343.2 | 957.6 | 920.2 | ||||||||||||||||||||||
| Maintenance | 71.8 | 66.3 | 187.4 | 194.7 | ||||||||||||||||||||||
| Asset Impairments and Other Related Charges | — | — | — | 52.9 | ||||||||||||||||||||||
| Depreciation and Amortization | 96.6 | 86.1 | 285.3 | 293.9 | ||||||||||||||||||||||
| Taxes Other Than Income Taxes | 144.5 | 136.9 | 423.5 | 425.0 | ||||||||||||||||||||||
| TOTAL EXPENSES | 917.3 | 845.7 | 2,584.1 | 2,615.7 | ||||||||||||||||||||||
| OPERATING INCOME | 152.9 | 158.5 | 408.6 | 308.6 | ||||||||||||||||||||||
| Other Income (Expense): | ||||||||||||||||||||||||||
| Other Income | — | 0.9 | 0.9 | 1.8 | ||||||||||||||||||||||
| Allowance for Equity Funds Used During Construction | 5.2 | 6.4 | 19.3 | 16.2 | ||||||||||||||||||||||
| Non-Service Cost Components of Net Periodic Benefit Cost | 4.2 | 5.4 | 12.8 | 16.2 | ||||||||||||||||||||||
| Interest Expense | (39.6) | (38.7) | (117.6) | (109.9) | ||||||||||||||||||||||
| INCOME BEFORE INCOME TAX EXPENSE AND EQUITY EARNINGS (LOSS) | 122.7 | 132.5 | 324.0 | 232.9 | ||||||||||||||||||||||
| Income Tax Expense | 21.9 | 19.8 | 58.8 | 30.4 | ||||||||||||||||||||||
| Equity Earnings (Loss) of Unconsolidated Subsidiaries | 0.1 | — | 1.5 | (0.8) | ||||||||||||||||||||||
| NET INCOME | $ | 100.9 | $ | 112.7 | $ | 266.7 | $ | 201.7 | ||||||||||||||||||
| The common stock of OPCo is wholly-owned by Parent. | ||||||||||||||||||||||||||
| Common Stock | Paid-in Capital | Retained Earnings | Total | |||||||||||||||||||||||
TOTAL COMMON SHAREHOLDER’S EQUITY – DECEMBER 31, 2023 | $ | 321.2 | $ | 1,012.8 | $ | 2,237.3 | $ | 3,571.3 | ||||||||||||||||||
| Net Income | 70.6 | 70.6 | ||||||||||||||||||||||||
TOTAL COMMON SHAREHOLDER’S EQUITY – MARCH 31, 2024 | 321.2 | 1,012.8 | 2,307.9 | 3,641.9 | ||||||||||||||||||||||
| Net Income | 18.4 | 18.4 | ||||||||||||||||||||||||
TOTAL COMMON SHAREHOLDER’S EQUITY – JUNE 30, 2024 | 321.2 | 1,012.8 | 2,326.3 | 3,660.3 | ||||||||||||||||||||||
| Capital Contribution from Parent | 0.8 | 0.8 | ||||||||||||||||||||||||
| Net Income | 112.7 | 112.7 | ||||||||||||||||||||||||
TOTAL COMMON SHAREHOLDER’S EQUITY – SEPTEMBER 30, 2024 | $ | 321.2 | $ | 1,013.6 | $ | 2,439.0 | $ | 3,773.8 | ||||||||||||||||||
TOTAL COMMON SHAREHOLDER’S EQUITY – DECEMBER 31, 2024 | $ | 321.2 | $ | 1,020.0 | $ | 2,542.9 | $ | 3,884.1 | ||||||||||||||||||
| Common Stock Dividends | (46.0) | (46.0) | ||||||||||||||||||||||||
| Net Income | 63.0 | 63.0 | ||||||||||||||||||||||||
TOTAL COMMON SHAREHOLDER’S EQUITY – MARCH 31, 2025 | 321.2 | 1,020.0 | 2,559.9 | 3,901.1 | ||||||||||||||||||||||
| Capital Contribution from Parent | 1.8 | 1.8 | ||||||||||||||||||||||||
| Common Stock Dividends | (25.0) | (25.0) | ||||||||||||||||||||||||
| Net Income | 102.8 | 102.8 | ||||||||||||||||||||||||
TOTAL COMMON SHAREHOLDER’S EQUITY – JUNE 30, 2025 | 321.2 | 1,021.8 | 2,637.7 | 3,980.7 | ||||||||||||||||||||||
| Net Income | 100.9 | 100.9 | ||||||||||||||||||||||||
TOTAL COMMON SHAREHOLDER’S EQUITY – SEPTEMBER 30, 2025 | $ | 321.2 | $ | 1,021.8 | $ | 2,738.6 | $ | 4,081.6 | ||||||||||||||||||
| September 30, | December 31, | |||||||||||||
| 2025 | 2024 | |||||||||||||
| CURRENT ASSETS | ||||||||||||||
| Cash and Cash Equivalents | $ | 5.4 | $ | 4.5 | ||||||||||
| Advances to Affiliates | — | 114.9 | ||||||||||||
| Accounts Receivable: | ||||||||||||||
| Customers | 147.2 | 189.2 | ||||||||||||
| Affiliated Companies | 125.4 | 117.5 | ||||||||||||
| Accrued Unbilled Revenues | 25.2 | 31.1 | ||||||||||||
| Miscellaneous | 0.2 | 8.6 | ||||||||||||
| Total Accounts Receivable | 298.0 | 346.4 | ||||||||||||
| Materials and Supplies | 168.8 | 141.4 | ||||||||||||
| Prepayments and Other Current Assets | 18.7 | 19.9 | ||||||||||||
| TOTAL CURRENT ASSETS | 490.9 | 627.1 | ||||||||||||
| PROPERTY, PLANT AND EQUIPMENT | ||||||||||||||
| Electric: | ||||||||||||||
| Transmission | 3,838.7 | 3,663.9 | ||||||||||||
| Distribution | 7,510.7 | 7,244.0 | ||||||||||||
| Other Property, Plant and Equipment | 1,265.7 | 1,256.0 | ||||||||||||
| Construction Work in Progress | 783.1 | 691.1 | ||||||||||||
| Total Property, Plant and Equipment | 13,398.2 | 12,855.0 | ||||||||||||
| Accumulated Depreciation and Amortization | 2,974.1 | 2,883.9 | ||||||||||||
| TOTAL PROPERTY, PLANT AND EQUIPMENT – NET | 10,424.1 | 9,971.1 | ||||||||||||
| OTHER NONCURRENT ASSETS | ||||||||||||||
| Regulatory Assets | 347.6 | 379.1 | ||||||||||||
| Operating Lease Assets | 53.4 | 60.4 | ||||||||||||
| Deferred Charges and Other Noncurrent Assets | 310.4 | 661.0 | ||||||||||||
| TOTAL OTHER NONCURRENT ASSETS | 711.4 | 1,100.5 | ||||||||||||
| TOTAL ASSETS | $ | 11,626.4 | $ | 11,698.7 | ||||||||||
| September 30, | December 31, | |||||||||||||
| 2025 | 2024 | |||||||||||||
| (in millions) | ||||||||||||||
| CURRENT LIABILITIES | ||||||||||||||
| Advances from Affiliates | $ | 13.0 | $ | — | ||||||||||
| Accounts Payable: | ||||||||||||||
| General | 354.4 | 343.6 | ||||||||||||
| Affiliated Companies | 286.6 | 204.9 | ||||||||||||
| Risk Management Liabilities | 6.3 | 7.3 | ||||||||||||
| Customer Deposits | 100.4 | 108.1 | ||||||||||||
| Accrued Taxes | 421.3 | 836.1 | ||||||||||||
| Obligations Under Operating Leases | 13.5 | 12.3 | ||||||||||||
| Other Current Liabilities | 199.8 | 182.2 | ||||||||||||
| TOTAL CURRENT LIABILITIES | 1,395.3 | 1,694.5 | ||||||||||||
| NONCURRENT LIABILITIES | ||||||||||||||
| Long-term Debt – Nonaffiliated | 3,717.8 | 3,715.7 | ||||||||||||
| Long-term Risk Management Liabilities | 38.0 | 40.2 | ||||||||||||
| Deferred Income Taxes | 1,249.6 | 1,201.1 | ||||||||||||
| Regulatory Liabilities and Deferred Investment Tax Credits | 904.9 | 987.7 | ||||||||||||
| Obligations Under Operating Leases | 40.2 | 48.4 | ||||||||||||
| Deferred Credits and Other Noncurrent Liabilities | 199.0 | 127.0 | ||||||||||||
| TOTAL NONCURRENT LIABILITIES | 6,149.5 | 6,120.1 | ||||||||||||
| TOTAL LIABILITIES | 7,544.8 | 7,814.6 | ||||||||||||
| Rate Matters (Note 4) | ||||||||||||||
| Commitments and Contingencies (Note 5) | ||||||||||||||
| COMMON SHAREHOLDER’S EQUITY | ||||||||||||||
Common Stock –No Par Value: | ||||||||||||||
Authorized – 40,000,000 Shares | ||||||||||||||
Outstanding – 27,952,473 Shares | 321.2 | 321.2 | ||||||||||||
| Paid-in Capital | 1,021.8 | 1,020.0 | ||||||||||||
| Retained Earnings | 2,738.6 | 2,542.9 | ||||||||||||
| TOTAL COMMON SHAREHOLDER’S EQUITY | 4,081.6 | 3,884.1 | ||||||||||||
| TOTAL LIABILITIES AND COMMON SHAREHOLDER’S EQUITY | $ | 11,626.4 | $ | 11,698.7 | ||||||||||
| Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||||||||
| 2025 | 2024 | 2025 | 2024 | ||||||||||||||||||||
| (in millions of KWhs) | |||||||||||||||||||||||
| Retail: | |||||||||||||||||||||||
| Residential | 2,027 | 2,170 | 4,938 | 5,084 | |||||||||||||||||||
| Commercial | 1,706 | 1,733 | 4,512 | 4,348 | |||||||||||||||||||
| Industrial | 1,567 | 1,524 | 4,427 | 4,436 | |||||||||||||||||||
| Miscellaneous | 360 | 371 | 964 | 981 | |||||||||||||||||||
| Total Retail | 5,660 | 5,798 | 14,841 | 14,849 | |||||||||||||||||||
| Wholesale (a) | 168 | 24 | 253 | 135 | |||||||||||||||||||
| Total KWhs | 5,828 | 5,822 | 15,094 | 14,984 | |||||||||||||||||||
| Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||||||||
| 2025 | 2024 | 2025 | 2024 | ||||||||||||||||||||
| (in degree days) | |||||||||||||||||||||||
| Actual – Heating | — | — | 1,193 | 917 | |||||||||||||||||||
| Normal – Heating | — | — | 1,081 | 1,088 | |||||||||||||||||||
| Actual – Cooling | 1,353 | 1,433 | 1,982 | 2,263 | |||||||||||||||||||
| Normal – Cooling | 1,425 | 1,429 | 2,154 | 2,111 | |||||||||||||||||||
| Public Service Company of Oklahoma | ||||||||||||||
| Reconciliation of 2024 to 2025 Net Income | ||||||||||||||
| (in millions) | ||||||||||||||
| Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||
| 2024 Net Income | $ | 113.7 | $ | 222.0 | ||||||||||
| Changes in Revenues: | ||||||||||||||
| Retail Revenues (a) | 73.0 | 88.9 | ||||||||||||
| Transmission Revenues | (2.8) | 9.3 | ||||||||||||
| Other Revenues | 7.8 | (3.3) | ||||||||||||
| Total Change in Revenues | 78.0 | 94.9 | ||||||||||||
| Changes in Expenses and Other: | ||||||||||||||
| Purchased Electricity, Fuel and Other Consumables Used for Electric Generation | (9.4) | 18.2 | ||||||||||||
| Other Operation and Maintenance | (35.5) | (48.7) | ||||||||||||
| Depreciation and Amortization | 3.5 | (0.6) | ||||||||||||
| Taxes Other Than Income Taxes | (2.0) | 0.8 | ||||||||||||
| Interest Income | (0.2) | 1.6 | ||||||||||||
| Allowance for Equity Funds Used During Construction | (0.2) | 2.7 | ||||||||||||
| Non-Service Cost Components of Net Periodic Benefit Cost | (0.8) | (2.2) | ||||||||||||
| Interest Expense | (13.5) | (29.4) | ||||||||||||
| Total Change in Expenses and Other | (58.1) | (57.6) | ||||||||||||
| Income Tax Benefit | (3.8) | (38.3) | ||||||||||||
| 2025 Net Income | $ | 129.8 | $ | 221.0 | ||||||||||
| Three Months Ended | Nine Months Ended | |||||||||||||||||||||||||
| September 30, | September 30, | |||||||||||||||||||||||||
| 2025 | 2024 | 2025 | 2024 | |||||||||||||||||||||||
| REVENUES | ||||||||||||||||||||||||||
| Electric Generation, Transmission and Distribution | $ | 685.5 | $ | 612.9 | $ | 1,541.5 | $ | 1,439.1 | ||||||||||||||||||
| Sales to AEP Affiliates | 3.5 | 1.1 | 5.9 | 5.7 | ||||||||||||||||||||||
| Other Revenues | 4.4 | 1.4 | 9.5 | 17.2 | ||||||||||||||||||||||
| TOTAL REVENUES | 693.4 | 615.4 | 1,556.9 | 1,462.0 | ||||||||||||||||||||||
| EXPENSES | ||||||||||||||||||||||||||
| Purchased Electricity, Fuel and Other Consumables Used for Electric Generation | 294.2 | 284.8 | 595.5 | 613.7 | ||||||||||||||||||||||
| Other Operation | 139.5 | 112.2 | 363.2 | 328.1 | ||||||||||||||||||||||
| Maintenance | 36.9 | 28.7 | 95.3 | 81.7 | ||||||||||||||||||||||
| Depreciation and Amortization | 67.1 | 70.6 | 202.7 | 202.1 | ||||||||||||||||||||||
| Taxes Other Than Income Taxes | 20.8 | 18.8 | 59.4 | 60.2 | ||||||||||||||||||||||
| TOTAL EXPENSES | 558.5 | 515.1 | 1,316.1 | 1,285.8 | ||||||||||||||||||||||
| OPERATING INCOME | 134.9 | 100.3 | 240.8 | 176.2 | ||||||||||||||||||||||
| Other Income (Expense): | ||||||||||||||||||||||||||
| Interest Income | — | 0.2 | 2.3 | 0.7 | ||||||||||||||||||||||
| Allowance for Equity Funds Used During Construction | 1.1 | 1.3 | 7.3 | 4.6 | ||||||||||||||||||||||
| Non-Service Cost Components of Net Periodic Benefit Cost | 2.1 | 2.9 | 6.3 | 8.5 | ||||||||||||||||||||||
| Interest Expense | (40.0) | (26.5) | (99.6) | (70.2) | ||||||||||||||||||||||
| INCOME BEFORE INCOME TAX EXPENSE (BENEFIT) | 98.1 | 78.2 | 157.1 | 119.8 | ||||||||||||||||||||||
| Income Tax Expense (Benefit) | (31.7) | (35.5) | (63.9) | (102.2) | ||||||||||||||||||||||
| NET INCOME | $ | 129.8 | $ | 113.7 | $ | 221.0 | $ | 222.0 | ||||||||||||||||||
| The common stock of PSO is wholly-owned by Parent. | ||||||||||||||||||||||||||
| Three Months Ended | Nine Months Ended | |||||||||||||||||||||||||
| September 30, | September 30, | |||||||||||||||||||||||||
| 2025 | 2024 | 2025 | 2024 | |||||||||||||||||||||||
| Net Income | $ | 129.8 | $ | 113.7 | $ | 221.0 | $ | 222.0 | ||||||||||||||||||
| OTHER COMPREHENSIVE LOSS, NET OF TAXES | ||||||||||||||||||||||||||
Cash Flow Hedges, Net of Tax of $0 and $(2.3) for the Three Months Ended September 30, 2025 and 2024, Respectively, and $(0.3) and $(2.3) for the Nine Months Ended September 30, 2025 and 2024, Respectively | (0.1) | (8.6) | (1.3) | (8.6) | ||||||||||||||||||||||
| TOTAL COMPREHENSIVE INCOME | $ | 129.7 | $ | 105.1 | $ | 219.7 | $ | 213.4 | ||||||||||||||||||
| Common Stock | Paid-in Capital | Retained Earnings | Accumulated Other Comprehensive Income (Loss) | Total | ||||||||||||||||||||||||||||
| TOTAL COMMON SHAREHOLDER'S EQUITY – DECEMBER 31, 2023 | $ | 157.2 | $ | 1,039.3 | $ | 1,374.3 | $ | (0.2) | $ | 2,570.6 | ||||||||||||||||||||||
| Common Stock Dividends | (35.0) | (35.0) | ||||||||||||||||||||||||||||||
| Net Income | 72.0 | 72.0 | ||||||||||||||||||||||||||||||
| TOTAL COMMON SHAREHOLDER'S EQUITY – MARCH 31, 2024 | 157.2 | 1,039.3 | 1,411.3 | (0.2) | 2,607.6 | |||||||||||||||||||||||||||
| Capital Contribution from Parent | 0.2 | 0.2 | ||||||||||||||||||||||||||||||
| Common Stock Dividends | (35.0) | (35.0) | ||||||||||||||||||||||||||||||
| Net Income | 36.3 | 36.3 | ||||||||||||||||||||||||||||||
| TOTAL COMMON SHAREHOLDER'S EQUITY – JUNE 30, 2024 | 157.2 | 1,039.5 | 1,412.6 | (0.2) | 2,609.1 | |||||||||||||||||||||||||||
| Common Stock Dividends | (35.0) | (35.0) | ||||||||||||||||||||||||||||||
| Net Income | 113.7 | 113.7 | ||||||||||||||||||||||||||||||
| Other Comprehensive Loss | (8.6) | (8.6) | ||||||||||||||||||||||||||||||
| TOTAL COMMON SHAREHOLDER'S EQUITY – SEPTEMBER 30, 2024 | $ | 157.2 | $ | 1,039.5 | $ | 1,491.3 | $ | (8.8) | $ | 2,679.2 | ||||||||||||||||||||||
| TOTAL COMMON SHAREHOLDER'S EQUITY – DECEMBER 31, 2024 | $ | 157.2 | $ | 1,041.2 | $ | 1,483.6 | $ | 3.6 | $ | 2,685.6 | ||||||||||||||||||||||
| Net Income | 27.5 | 27.5 | ||||||||||||||||||||||||||||||
| Other Comprehensive Loss | (1.2) | (1.2) | ||||||||||||||||||||||||||||||
| TOTAL COMMON SHAREHOLDER'S EQUITY – MARCH 31, 2025 | 157.2 | 1,041.2 | 1,511.1 | 2.4 | 2,711.9 | |||||||||||||||||||||||||||
| Capital Contribution from Parent | 299.9 | 299.9 | ||||||||||||||||||||||||||||||
| Net Income | 63.7 | 63.7 | ||||||||||||||||||||||||||||||
| TOTAL COMMON SHAREHOLDER'S EQUITY – JUNE 30, 2025 | 157.2 | 1,341.1 | 1,574.8 | 2.4 | 3,075.5 | |||||||||||||||||||||||||||
| Capital Contribution from Parent | 375.0 | 375.0 | ||||||||||||||||||||||||||||||
| Net Income | 129.8 | 129.8 | ||||||||||||||||||||||||||||||
| Other Comprehensive Loss | (0.1) | (0.1) | ||||||||||||||||||||||||||||||
| TOTAL COMMON SHAREHOLDER'S EQUITY – SEPTEMBER 30, 2025 | $ | 157.2 | $ | 1,716.1 | $ | 1,704.6 | $ | 2.3 | $ | 3,580.2 | ||||||||||||||||||||||
| September 30, | December 31, | |||||||||||||
| 2025 | 2024 | |||||||||||||
| CURRENT ASSETS | ||||||||||||||
| Cash and Cash Equivalents | $ | 3.1 | $ | 1.8 | ||||||||||
| Advances to Affiliates | — | 232.0 | ||||||||||||
| Accounts Receivable: | ||||||||||||||
| Customers | 95.6 | 74.8 | ||||||||||||
| Affiliated Companies | 41.3 | 32.6 | ||||||||||||
| Miscellaneous | 4.7 | 0.3 | ||||||||||||
| Total Accounts Receivable | 141.6 | 107.7 | ||||||||||||
| Fuel | 5.9 | 17.1 | ||||||||||||
| Materials and Supplies | 119.9 | 108.8 | ||||||||||||
| Risk Management Assets | 68.1 | 20.6 | ||||||||||||
| Accrued Tax Benefits | 19.1 | 35.5 | ||||||||||||
| Regulatory Asset for Under-Recovered Fuel Costs | 22.3 | 64.7 | ||||||||||||
| Prepayments and Other Current Assets | 18.1 | 20.2 | ||||||||||||
| TOTAL CURRENT ASSETS | 398.1 | 608.4 | ||||||||||||
| PROPERTY, PLANT AND EQUIPMENT | ||||||||||||||
| Electric: | ||||||||||||||
| Generation | 4,347.5 | 2,772.4 | ||||||||||||
| Transmission | 1,378.1 | 1,345.3 | ||||||||||||
| Distribution | 3,888.8 | 3,698.8 | ||||||||||||
| Other Property, Plant and Equipment | 1,269.6 | 550.0 | ||||||||||||
| Construction Work in Progress | 454.6 | 378.8 | ||||||||||||
| Total Property, Plant and Equipment | 11,338.6 | 8,745.3 | ||||||||||||
| Accumulated Depreciation and Amortization | 2,702.7 | 2,213.0 | ||||||||||||
| TOTAL PROPERTY, PLANT AND EQUIPMENT – NET | 8,635.9 | 6,532.3 | ||||||||||||
| OTHER NONCURRENT ASSETS | ||||||||||||||
| Regulatory Assets | 603.5 | 527.8 | ||||||||||||
| Employee Benefits and Pension Assets | 77.5 | 73.6 | ||||||||||||
| Operating Lease Assets | 126.1 | 106.2 | ||||||||||||
| Deferred Charges and Other Noncurrent Assets | 82.9 | 62.0 | ||||||||||||
| TOTAL OTHER NONCURRENT ASSETS | 890.0 | 769.6 | ||||||||||||
| TOTAL ASSETS | $ | 9,924.0 | $ | 7,910.3 | ||||||||||
| September 30, | December 31, | |||||||||||||
| 2025 | 2024 | |||||||||||||
| (in millions) | ||||||||||||||
| CURRENT LIABILITIES | ||||||||||||||
| Advances from Affiliates | $ | 39.7 | $ | — | ||||||||||
| Accounts Payable: | ||||||||||||||
| General | 285.2 | 200.5 | ||||||||||||
| Affiliated Companies | 123.6 | 59.1 | ||||||||||||
| Long-term Debt Due Within One Year – Nonaffiliated | 50.6 | 125.6 | ||||||||||||
| Risk Management Liabilities | 15.9 | 5.8 | ||||||||||||
| Customer Deposits | 114.6 | 72.9 | ||||||||||||
| Accrued Taxes | 93.9 | 33.4 | ||||||||||||
| Accrued Interest | 39.6 | 33.1 | ||||||||||||
| Obligations Under Operating Leases | 11.6 | 10.4 | ||||||||||||
| Other Current Liabilities | 88.0 | 78.6 | ||||||||||||
| TOTAL CURRENT LIABILITIES | 862.7 | 619.4 | ||||||||||||
| NONCURRENT LIABILITIES | ||||||||||||||
| Long-term Debt – Nonaffiliated | 3,474.0 | 2,730.0 | ||||||||||||
| Deferred Income Taxes | 989.0 | 930.6 | ||||||||||||
| Regulatory Liabilities and Deferred Investment Tax Credits | 722.0 | 689.7 | ||||||||||||
| Asset Retirement Obligations | 139.1 | 118.8 | ||||||||||||
| Obligations Under Operating Leases | 121.6 | 101.9 | ||||||||||||
| Deferred Credits and Other Noncurrent Liabilities | 35.4 | 34.3 | ||||||||||||
| TOTAL NONCURRENT LIABILITIES | 5,481.1 | 4,605.3 | ||||||||||||
| TOTAL LIABILITIES | 6,343.8 | 5,224.7 | ||||||||||||
| Rate Matters (Note 4) | ||||||||||||||
| Commitments and Contingencies (Note 5) | ||||||||||||||
| COMMON SHAREHOLDER’S EQUITY | ||||||||||||||
Common Stock – Par Value – $15 Per Share: | ||||||||||||||
Authorized – 11,000,000 Shares | ||||||||||||||
Issued – 10,482,000 Shares | ||||||||||||||
Outstanding – 9,013,000 Shares | 157.2 | 157.2 | ||||||||||||
| Paid-in Capital | 1,716.1 | 1,041.2 | ||||||||||||
| Retained Earnings | 1,704.6 | 1,483.6 | ||||||||||||
| Accumulated Other Comprehensive Income (Loss) | 2.3 | 3.6 | ||||||||||||
| TOTAL COMMON SHAREHOLDER’S EQUITY | 3,580.2 | 2,685.6 | ||||||||||||
| TOTAL LIABILITIES AND COMMON SHAREHOLDER’S EQUITY | $ | 9,924.0 | $ | 7,910.3 | ||||||||||
| Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||||||||
| 2025 | 2024 | 2025 | 2024 | ||||||||||||||||||||
| (in millions of KWhs) | |||||||||||||||||||||||
| Retail: | |||||||||||||||||||||||
| Residential | 2,016 | 1,955 | 4,984 | 4,855 | |||||||||||||||||||
| Commercial | 1,699 | 1,617 | 4,359 | 4,287 | |||||||||||||||||||
| Industrial | 1,375 | 1,232 | 3,883 | 3,873 | |||||||||||||||||||
| Miscellaneous | 16 | 17 | 50 | 52 | |||||||||||||||||||
| Total Retail | 5,106 | 4,821 | 13,276 | 13,067 | |||||||||||||||||||
| Wholesale (a) | 1,562 | 1,567 | 4,305 | 4,281 | |||||||||||||||||||
| Total KWhs | 6,668 | 6,388 | 17,581 | 17,348 | |||||||||||||||||||
| Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||||||||
| 2025 | 2024 | 2025 | 2024 | ||||||||||||||||||||
| (in degree days) | |||||||||||||||||||||||
| Actual – Heating | — | — | 726 | 560 | |||||||||||||||||||
| Normal – Heating | — | 1 | 714 | 722 | |||||||||||||||||||
| Actual – Cooling | 1,545 | 1,591 | 2,589 | 2,721 | |||||||||||||||||||
| Normal – Cooling | 1,404 | 1,439 | 2,220 | 2,237 | |||||||||||||||||||
| Southwestern Electric Power Company | ||||||||||||||
Reconciliation of 2024 to 2025 | ||||||||||||||
| Earnings Attributable to SWEPCo Common Shareholder | ||||||||||||||
| (in millions) | ||||||||||||||
| Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||
2024 Earnings Attributable to Common Shareholder | $ | 139.1 | $ | 277.1 | ||||||||||
| Changes in Revenues: | ||||||||||||||
| Retail Revenues (a) | 65.2 | 236.9 | ||||||||||||
| Off-system Sales | 0.6 | (0.9) | ||||||||||||
| Transmission Revenues | 13.9 | 34.7 | ||||||||||||
| Other Revenues | 5.4 | 3.9 | ||||||||||||
| Total Change in Revenues | 85.1 | 274.6 | ||||||||||||
| Changes in Expenses and Other: | ||||||||||||||
| Purchased Electricity, Fuel and Other Consumables Used for Electric Generation | 11.7 | 6.3 | ||||||||||||
| Other Operation and Maintenance | (46.5) | (16.4) | ||||||||||||
| Depreciation and Amortization | (10.3) | (36.4) | ||||||||||||
| Taxes Other Than Income Taxes | (1.7) | (6.1) | ||||||||||||
| Interest Income | 0.4 | (3.0) | ||||||||||||
| Allowance for Equity Funds Used During Construction | 4.4 | 4.6 | ||||||||||||
| Non-Service Cost Components of Net Periodic Benefit Cost | (0.9) | (2.5) | ||||||||||||
| Interest Expense | (5.0) | (34.7) | ||||||||||||
| Total Change in Expenses and Other | (47.9) | (88.2) | ||||||||||||
| Income Tax Benefit | 12.8 | (110.9) | ||||||||||||
| Equity Earnings of Unconsolidated Subsidiary | (0.2) | (0.3) | ||||||||||||
| Net Income Attributable to Noncontrolling Interest | 0.3 | 1.0 | ||||||||||||
2025 Earnings Attributable to Common Shareholder | $ | 189.2 | $ | 353.3 | ||||||||||
| Three Months Ended | Nine Months Ended | |||||||||||||||||||||||||
| September 30, | September 30, | |||||||||||||||||||||||||
| 2025 | 2024 | 2025 | 2024 | |||||||||||||||||||||||
| REVENUES | ||||||||||||||||||||||||||
| Electric Generation, Transmission and Distribution | $ | 694.3 | $ | 625.1 | $ | 1,760.7 | $ | 1,680.5 | ||||||||||||||||||
| Sales to AEP Affiliates | 28.2 | 19.7 | 63.7 | 50.5 | ||||||||||||||||||||||
| (Provision for)/Reversal of – Revenue Refund – Nonaffiliated | (4.6) | (6.7) | (9.1) | (187.2) | ||||||||||||||||||||||
| Other Revenues | 6.0 | 0.7 | 10.1 | 7.0 | ||||||||||||||||||||||
| TOTAL REVENUES | 723.9 | 638.8 | 1,825.4 | 1,550.8 | ||||||||||||||||||||||
| EXPENSES | ||||||||||||||||||||||||||
| Purchased Electricity, Fuel and Other Consumables Used for Electric Generation | 192.4 | 204.1 | 575.8 | 582.1 | ||||||||||||||||||||||
| Other Operation | 122.1 | 95.1 | 326.9 | 324.3 | ||||||||||||||||||||||
| Maintenance | 54.8 | 35.3 | 139.7 | 125.9 | ||||||||||||||||||||||
| Depreciation and Amortization | 128.0 | 117.7 | 334.0 | 297.6 | ||||||||||||||||||||||
| Taxes Other Than Income Taxes | 35.8 | 34.1 | 99.9 | 93.8 | ||||||||||||||||||||||
| TOTAL EXPENSES | 533.1 | 486.3 | 1,476.3 | 1,423.7 | ||||||||||||||||||||||
| OPERATING INCOME | 190.8 | 152.5 | 349.1 | 127.1 | ||||||||||||||||||||||
| Other Income (Expense): | ||||||||||||||||||||||||||
| Interest Income | 3.5 | 3.1 | 8.4 | 11.4 | ||||||||||||||||||||||
| Allowance for Equity Funds Used During Construction | 7.3 | 2.9 | 14.3 | 9.7 | ||||||||||||||||||||||
| Non-Service Cost Components of Net Periodic Benefit Cost | 1.7 | 2.6 | 5.1 | 7.6 | ||||||||||||||||||||||
| Interest Expense | (36.9) | (31.9) | (109.8) | (75.1) | ||||||||||||||||||||||
| INCOME BEFORE INCOME TAX EXPENSE (BENEFIT) AND EQUITY EARNINGS | 166.4 | 129.2 | 267.1 | 80.7 | ||||||||||||||||||||||
| Income Tax Expense (Benefit) | (23.3) | (10.5) | (87.9) | (198.8) | ||||||||||||||||||||||
| Equity Earnings of Unconsolidated Subsidiary | 0.2 | 0.4 | 0.8 | 1.1 | ||||||||||||||||||||||
| NET INCOME | 189.9 | 140.1 | 355.8 | 280.6 | ||||||||||||||||||||||
| Net Income Attributable to Noncontrolling Interest | 0.7 | 1.0 | 2.5 | 3.5 | ||||||||||||||||||||||
| EARNINGS ATTRIBUTABLE TO SWEPCo COMMON SHAREHOLDER | $ | 189.2 | $ | 139.1 | $ | 353.3 | $ | 277.1 | ||||||||||||||||||
The common stock of SWEPCo is wholly-owned by Parent. | ||||||||||||||||||||||||||
| Three Months Ended | Nine Months Ended | |||||||||||||||||||||||||
| September 30, | September 30, | |||||||||||||||||||||||||
| 2025 | 2024 | 2025 | 2024 | |||||||||||||||||||||||
| Net Income | $ | 189.9 | $ | 140.1 | $ | 355.8 | $ | 280.6 | ||||||||||||||||||
| OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAXES | ||||||||||||||||||||||||||
Cash Flow Hedges, Net of Tax of $(0.1) and $(0.1) for the Three Months Ended September 30, 2025 and 2024, Respectively, and $(0.1) and $(0.1) for the Nine Months Ended September 30, 2025 and 2024, Respectively | (0.1) | (0.1) | (0.2) | (0.2) | ||||||||||||||||||||||
Amortization of Pension and OPEB Deferred Costs, Net of Tax of $0 and $(0.1) for the Three Months Ended September 30, 2025 and 2024, Respectively, and $0 and $(0.1) for the Nine Months Ended September 30, 2025 and 2024, Respectively | — | (0.1) | — | (0.2) | ||||||||||||||||||||||
| TOTAL OTHER COMPREHENSIVE LOSS | (0.1) | (0.2) | (0.2) | (0.4) | ||||||||||||||||||||||
| TOTAL COMPREHENSIVE INCOME | 189.8 | 139.9 | 355.6 | 280.2 | ||||||||||||||||||||||
| Total Comprehensive Income Attributable to Noncontrolling Interest | 0.7 | 1.0 | 2.5 | 3.5 | ||||||||||||||||||||||
| TOTAL COMPREHENSIVE INCOME ATTRIBUTABLE TO SWEPCo COMMON SHAREHOLDER | $ | 189.1 | $ | 138.9 | $ | 353.1 | $ | 276.7 | ||||||||||||||||||
| SWEPCo Common Shareholder | |||||||||||||||||||||||||||||||||||
| Common Stock | Paid-in Capital | Retained Earnings | Accumulated Other Comprehensive Income (Loss) | Noncontrolling Interest | Total | ||||||||||||||||||||||||||||||
| TOTAL EQUITY – DECEMBER 31, 2023 | $ | 0.1 | $ | 1,492.2 | $ | 2,281.3 | $ | (3.4) | $ | 0.2 | $ | 3,770.4 | |||||||||||||||||||||||
| Common Stock Dividends | (50.0) | (50.0) | |||||||||||||||||||||||||||||||||
| Common Stock Dividends – Nonaffiliated | (1.4) | (1.4) | |||||||||||||||||||||||||||||||||
| Net Income | 208.1 | 1.5 | 209.6 | ||||||||||||||||||||||||||||||||
| Other Comprehensive Loss | (0.2) | (0.2) | |||||||||||||||||||||||||||||||||
| TOTAL EQUITY – MARCH 31, 2024 | 0.1 | 1,492.2 | 2,439.4 | (3.6) | 0.3 | 3,928.4 | |||||||||||||||||||||||||||||
| Common Stock Dividends | (100.0) | (100.0) | |||||||||||||||||||||||||||||||||
| Common Stock Dividends – Nonaffiliated | (1.0) | (1.0) | |||||||||||||||||||||||||||||||||
| Net Income (Loss) | (70.1) | 1.0 | (69.1) | ||||||||||||||||||||||||||||||||
| TOTAL EQUITY – JUNE 30, 2024 | 0.1 | 1,492.2 | 2,269.3 | (3.6) | 0.3 | 3,758.3 | |||||||||||||||||||||||||||||
| Return of Capital to Parent | (1.1) | (1.1) | |||||||||||||||||||||||||||||||||
| Common Stock Dividends | (100.0) | (100.0) | |||||||||||||||||||||||||||||||||
| Common Stock Dividends – Nonaffiliated | (1.0) | (1.0) | |||||||||||||||||||||||||||||||||
| Net Income | 139.1 | 1.0 | 140.1 | ||||||||||||||||||||||||||||||||
| Other Comprehensive Loss | (0.2) | (0.2) | |||||||||||||||||||||||||||||||||
| TOTAL EQUITY – SEPTEMBER 30, 2024 | $ | 0.1 | $ | 1,491.1 | $ | 2,308.4 | $ | (3.8) | $ | 0.3 | $ | 3,796.1 | |||||||||||||||||||||||
| TOTAL EQUITY – DECEMBER 31, 2024 | $ | 0.1 | $ | 1,549.7 | $ | 2,352.5 | $ | 2.3 | $ | 0.4 | $ | 3,905.0 | |||||||||||||||||||||||
| Common Stock Dividends – Nonaffiliated | (1.0) | (1.0) | |||||||||||||||||||||||||||||||||
| Net Income | 48.5 | 1.0 | 49.5 | ||||||||||||||||||||||||||||||||
| Other Comprehensive Loss | (0.1) | (0.1) | |||||||||||||||||||||||||||||||||
| TOTAL EQUITY – MARCH 31, 2025 | 0.1 | 1,549.7 | 2,401.0 | 2.2 | 0.4 | 3,953.4 | |||||||||||||||||||||||||||||
| Capital Contribution from Parent | 450.6 | 450.6 | |||||||||||||||||||||||||||||||||
| Common Stock Dividends – Nonaffiliated | (1.0) | (1.0) | |||||||||||||||||||||||||||||||||
| Net Income | 115.6 | 0.8 | 116.4 | ||||||||||||||||||||||||||||||||
| TOTAL EQUITY – JUNE 30, 2025 | 0.1 | 2,000.3 | 2,516.6 | 2.2 | 0.2 | 4,519.4 | |||||||||||||||||||||||||||||
| Common Stock Dividends – Nonaffiliated | (0.9) | (0.9) | |||||||||||||||||||||||||||||||||
| Net Income | 189.2 | 0.7 | 189.9 | ||||||||||||||||||||||||||||||||
| Other Comprehensive Loss | (0.1) | (0.1) | |||||||||||||||||||||||||||||||||
| TOTAL EQUITY – SEPTEMBER 30, 2025 | $ | 0.1 | $ | 2,000.3 | $ | 2,705.8 | $ | 2.1 | $ | — | $ | 4,708.3 | |||||||||||||||||||||||
| September 30, | December 31, | |||||||||||||
| 2025 | 2024 | |||||||||||||
| CURRENT ASSETS | ||||||||||||||
| Cash and Cash Equivalents | $ | 2.7 | $ | 1.2 | ||||||||||
Restricted Cash (September 30, 2025 and December 31, 2024 Amounts Include $7.8 and $3.4, Respectively, Related to Storm Recovery Funding) | 7.8 | 3.4 | ||||||||||||
| Advances to Affiliates | 269.7 | 2.3 | ||||||||||||
| Accounts Receivable: | ||||||||||||||
| Customers | 39.7 | 34.5 | ||||||||||||
| Affiliated Companies | 74.3 | 54.1 | ||||||||||||
| Miscellaneous | 7.0 | 9.2 | ||||||||||||
| Total Accounts Receivable | 121.0 | 97.8 | ||||||||||||
| Fuel | 76.9 | 86.5 | ||||||||||||
Materials and Supplies (September 30, 2025 and December 31, 2024 Amounts Include $1.1 and $1.5, Respectively, Related to Sabine) | 85.0 | 81.4 | ||||||||||||
| Risk Management Assets | 57.8 | 18.1 | ||||||||||||
| Accrued Tax Benefits | 28.8 | 26.0 | ||||||||||||
| Regulatory Asset for Under-Recovered Fuel Costs | 106.7 | 106.6 | ||||||||||||
| Prepayments and Other Current Assets | 17.8 | 14.7 | ||||||||||||
| TOTAL CURRENT ASSETS | 774.2 | 438.0 | ||||||||||||
| PROPERTY, PLANT AND EQUIPMENT | ||||||||||||||
| Electric: | ||||||||||||||
| Generation | 5,335.2 | 5,287.5 | ||||||||||||
| Transmission | 3,066.8 | 2,863.8 | ||||||||||||
| Distribution | 3,170.3 | 3,007.1 | ||||||||||||
Other Property, Plant and Equipment (September 30, 2025 and December 31, 2024 Amounts Include $125.2 and $166.8, Respectively, Related to Sabine) | 909.5 | 940.4 | ||||||||||||
| Construction Work in Progress | 753.4 | 627.3 | ||||||||||||
| Total Property, Plant and Equipment | 13,235.2 | 12,726.1 | ||||||||||||
Accumulated Depreciation and Amortization (September 30, 2025 and December 31, 2024 Amounts Include $125.2 and $166.8, Respectively, Related to Sabine) | 3,443.6 | 3,280.0 | ||||||||||||
| TOTAL PROPERTY, PLANT AND EQUIPMENT – NET | 9,791.6 | 9,446.1 | ||||||||||||
| OTHER NONCURRENT ASSETS | ||||||||||||||
| Regulatory Assets | 922.2 | 921.3 | ||||||||||||
Securitized Assets (September 30, 2025 and December 31, 2024 Amounts Include $319.5 and $331.4, Respectively, Related to Storm Recovery Funding) | 319.5 | 331.4 | ||||||||||||
| Deferred Charges and Other Noncurrent Assets | 374.6 | 358.2 | ||||||||||||
| TOTAL OTHER NONCURRENT ASSETS | 1,616.3 | 1,610.9 | ||||||||||||
| TOTAL ASSETS | $ | 12,182.1 | $ | 11,495.0 | ||||||||||
| September 30, | December 31, | |||||||||||||
| 2025 | 2024 | |||||||||||||
| (in millions) | ||||||||||||||
| CURRENT LIABILITIES | ||||||||||||||
| Advances from Affiliates | $ | — | $ | 275.0 | ||||||||||
| Accounts Payable: | ||||||||||||||
| General | 324.9 | 265.5 | ||||||||||||
| Affiliated Companies | 112.3 | 57.1 | ||||||||||||
| Short-term Debt – Nonaffiliated | 7.7 | 5.5 | ||||||||||||
Long-term Debt Due Within One Year – Nonaffiliated (September 30, 2025 and December 31, 2024 Amounts Include $16.6 and $22.7, Respectively, Related to Storm Recovery Funding) | 516.6 | 22.7 | ||||||||||||
| Risk Management Liabilities | 4.4 | 2.3 | ||||||||||||
| Customer Deposits | 78.5 | 75.4 | ||||||||||||
| Accrued Taxes | 120.1 | 48.6 | ||||||||||||
| Accrued Interest | 40.1 | 40.6 | ||||||||||||
| Obligations Under Operating Leases | 7.0 | 8.2 | ||||||||||||
| Provision for Refund | 81.6 | 70.8 | ||||||||||||
| Other Current Liabilities | 145.8 | 159.9 | ||||||||||||
| TOTAL CURRENT LIABILITIES | 1,439.0 | 1,031.6 | ||||||||||||
| NONCURRENT LIABILITIES | ||||||||||||||
Long-term Debt – Nonaffiliated (September 30, 2025 and December 31, 2024 Amounts Include $304.3 and $308.7, Respectively, Related to Storm Recovery Funding) | 3,456.0 | 3,958.1 | ||||||||||||
| Deferred Income Taxes | 1,372.4 | 1,271.3 | ||||||||||||
| Regulatory Liabilities and Deferred Investment Tax Credits | 564.6 | 610.8 | ||||||||||||
| Asset Retirement Obligations | 260.7 | 257.5 | ||||||||||||
| Employee Benefits and Pension Obligations | 40.1 | 46.5 | ||||||||||||
| Obligations Under Operating Leases | 131.6 | 137.5 | ||||||||||||
| Provision for Refund | 43.5 | 107.8 | ||||||||||||
| Storm Reserve | 106.7 | 106.2 | ||||||||||||
| Deferred Credits and Other Noncurrent Liabilities | 59.2 | 62.7 | ||||||||||||
| TOTAL NONCURRENT LIABILITIES | 6,034.8 | 6,558.4 | ||||||||||||
| TOTAL LIABILITIES | 7,473.8 | 7,590.0 | ||||||||||||
| Rate Matters (Note 4) | ||||||||||||||
| Commitments and Contingencies (Note 5) | ||||||||||||||
| EQUITY | ||||||||||||||
Common Stock – Par Value – $18 Per Share: | ||||||||||||||
Authorized – 3,680 Shares | ||||||||||||||
Outstanding – 3,680 Shares | 0.1 | 0.1 | ||||||||||||
| Paid-in Capital | 2,000.3 | 1,549.7 | ||||||||||||
| Retained Earnings | 2,705.8 | 2,352.5 | ||||||||||||
| Accumulated Other Comprehensive Income (Loss) | 2.1 | 2.3 | ||||||||||||
| TOTAL COMMON SHAREHOLDER’S EQUITY | 4,708.3 | 3,904.6 | ||||||||||||
| Noncontrolling Interest | — | 0.4 | ||||||||||||
| TOTAL EQUITY | 4,708.3 | 3,905.0 | ||||||||||||
| TOTAL LIABILITIES AND EQUITY | $ | 12,182.1 | $ | 11,495.0 | ||||||||||
| Note | Registrant | Page Number | ||||||||||||
| Significant Accounting Matters | AEP, AEP Texas, AEPTCo, APCo, I&M, OPCo, PSO, SWEPCo | |||||||||||||
| New Accounting Standards | AEP, AEP Texas, AEPTCo, APCo, I&M, OPCo, PSO, SWEPCo | |||||||||||||
| Comprehensive Income | AEP | |||||||||||||
| Rate Matters | AEP, AEP Texas, AEPTCo, APCo, I&M, OPCo, PSO, SWEPCo | |||||||||||||
| Commitments, Guarantees and Contingencies | AEP, AEP Texas, AEPTCo, APCo, I&M, OPCo, PSO, SWEPCo | |||||||||||||
| Acquisitions and Dispositions | AEP, AEPTCo, PSO | |||||||||||||
| Benefit Plans | AEP, AEP Texas, APCo, I&M, OPCo, PSO, SWEPCo | |||||||||||||
| Business Segments | AEP, AEP Texas, AEPTCo, APCo, I&M, OPCo, PSO, SWEPCo | |||||||||||||
| Derivatives and Hedging | AEP, AEP Texas, APCo, I&M, OPCo, PSO, SWEPCo | |||||||||||||
| Fair Value Measurements | AEP, AEP Texas, APCo, I&M, OPCo, PSO, SWEPCo | |||||||||||||
| Income Taxes | AEP, AEP Texas, AEPTCo, APCo, I&M, OPCo, PSO, SWEPCo | |||||||||||||
| Voluntary Severance Program | AEP, AEP Texas, AEPTCo, APCo, I&M, OPCo, PSO, SWEPCo | |||||||||||||
| Financing Activities | AEP, AEP Texas, AEPTCo, APCo, I&M, OPCo, PSO, SWEPCo | |||||||||||||
| Variable Interest Entities | AEP | |||||||||||||
| Property, Plant and Equipment | AEP, PSO, SWEPCo | |||||||||||||
| Revenue from Contracts with Customers | AEP, AEP Texas, AEPTCo, APCo, I&M, OPCo, PSO, SWEPCo | |||||||||||||
| Three Months Ended September 30, | |||||||||||||||||||||||
| 2025 | 2024 | ||||||||||||||||||||||
| (in millions, except per share data) | |||||||||||||||||||||||
| $/share | $/share | ||||||||||||||||||||||
| Earnings Attributable to AEP Common Shareholders | $ | 972.0 | $ | 959.6 | |||||||||||||||||||
| Weighted-Average Number of Basic AEP Common Shares Outstanding | 534.9 | $ | 1.82 | 532.2 | $ | 1.80 | |||||||||||||||||
| Weighted-Average Dilutive Effect | 3.1 | (0.01) | 1.4 | — | |||||||||||||||||||
| Weighted-Average Number of Diluted AEP Common Shares Outstanding | 538.0 | $ | 1.81 | 533.6 | $ | 1.80 | |||||||||||||||||
| Nine Months Ended September 30, | |||||||||||||||||||||||
| 2025 | 2024 | ||||||||||||||||||||||
| (in millions, except per share data) | |||||||||||||||||||||||
| $/share | $/share | ||||||||||||||||||||||
| Earnings Attributable to AEP Common Shareholders | $ | 2,998.0 | $ | 2,303.0 | |||||||||||||||||||
| Weighted-Average Number of Basic AEP Common Shares Outstanding | 534.2 | $ | 5.61 | 529.2 | $ | 4.35 | |||||||||||||||||
| Weighted-Average Dilutive Effect | 2.2 | (0.02) | 1.3 | (0.01) | |||||||||||||||||||
| Weighted-Average Number of Diluted AEP Common Shares Outstanding | 536.4 | $ | 5.59 | 530.5 | $ | 4.34 | |||||||||||||||||
| September 30, 2025 | ||||||||||||||||||||||||||
| AEP | AEP Texas | APCo | SWEPCo | |||||||||||||||||||||||
| (in millions) | ||||||||||||||||||||||||||
| Cash and Cash Equivalents | $ | 1,067.7 | $ | 0.1 | $ | 3.9 | $ | 2.7 | ||||||||||||||||||
| Restricted Cash | 39.1 | 7.3 | 10.8 | 7.8 | ||||||||||||||||||||||
| Total Cash, Cash Equivalents and Restricted Cash | $ | 1,106.8 | $ | 7.4 | $ | 14.7 | $ | 10.5 | ||||||||||||||||||
| December 31, 2024 | ||||||||||||||||||||||||||
| AEP | AEP Texas | APCo | SWEPCo | |||||||||||||||||||||||
| (in millions) | ||||||||||||||||||||||||||
| Cash and Cash Equivalents | $ | 202.9 | $ | 0.1 | $ | 3.9 | $ | 1.2 | ||||||||||||||||||
| Restricted Cash | 43.1 | 23.5 | 16.2 | 3.4 | ||||||||||||||||||||||
| Total Cash, Cash Equivalents and Restricted Cash | $ | 246.0 | $ | 23.6 | $ | 20.1 | $ | 4.6 | ||||||||||||||||||
| Nine Months Ended September 30, | ||||||||||||||
| Cash Flow Information | 2025 | 2024 | ||||||||||||
| (in millions) | ||||||||||||||
| Cash Paid (Received) for: | ||||||||||||||
| Interest, Net of Capitalized Amounts | $ | 1,315.1 | $ | 1,247.3 | ||||||||||
| Income Taxes, Net | 60.1 | 87.9 | ||||||||||||
| Sale of Transferable Tax Credits | (102.2) | (163.7) | ||||||||||||
| Noncash Investing and Financing Activities: | ||||||||||||||
| Acquisitions Under Finance Leases | 30.0 | 24.5 | ||||||||||||
| Construction Expenditures Included in Current Liabilities as of September 30, | 1,168.8 | 1,015.1 | ||||||||||||
| Acquisition of Nuclear Fuel Included in Current Liabilities as of September 30, | 1.4 | 8.2 | ||||||||||||
| Cash Flow Hedges | Pension | |||||||||||||||||||||||||
| Three Months Ended September 30, 2025 | Commodity | Interest Rate | and OPEB | Total | ||||||||||||||||||||||
| (in millions) | ||||||||||||||||||||||||||
| Balance in AOCI as of June 30, 2025 | $ | 91.5 | $ | 0.2 | $ | (104.3) | $ | (12.6) | ||||||||||||||||||
| Change in Fair Value Recognized in AOCI, Net of Tax | (17.1) | (0.1) | — | (17.2) | ||||||||||||||||||||||
| Amount of (Gain) Loss Reclassified from AOCI | ||||||||||||||||||||||||||
| Purchased Electricity, Fuel and Other Consumables Used for Electric Generation (a) | 3.2 | — | — | 3.2 | ||||||||||||||||||||||
| Interest Expense (a) | — | (0.9) | — | (0.9) | ||||||||||||||||||||||
| Amortization of Prior Service Cost (Credit) | — | — | (0.2) | (0.2) | ||||||||||||||||||||||
| Amortization of Actuarial (Gains) Losses | — | — | 0.5 | 0.5 | ||||||||||||||||||||||
| Reclassifications from AOCI, before Income Tax (Expense) Benefit | 3.2 | (0.9) | 0.3 | 2.6 | ||||||||||||||||||||||
| Income Tax (Expense) Benefit | 0.7 | (0.2) | 0.1 | 0.6 | ||||||||||||||||||||||
| Reclassifications from AOCI, Net of Income Tax (Expense) Benefit | 2.5 | (0.7) | 0.2 | 2.0 | ||||||||||||||||||||||
| Net Current Period Other Comprehensive Income (Loss) | (14.6) | (0.8) | 0.2 | (15.2) | ||||||||||||||||||||||
| Balance in AOCI as of September 30, 2025 | $ | 76.9 | $ | (0.6) | $ | (104.1) | $ | (27.8) | ||||||||||||||||||
| Cash Flow Hedges | Pension | |||||||||||||||||||||||||
| Three Months Ended September 30, 2024 | Commodity | Interest Rate | and OPEB | Total | ||||||||||||||||||||||
| (in millions) | ||||||||||||||||||||||||||
| Balance in AOCI as of June 30, 2024 | $ | 103.7 | $ | 9.3 | $ | (153.0) | $ | (40.0) | ||||||||||||||||||
| Change in Fair Value Recognized in AOCI, Net of Tax | (28.8) | (24.5) | — | (53.3) | ||||||||||||||||||||||
| Amount of (Gain) Loss Reclassified from AOCI | ||||||||||||||||||||||||||
| Purchased Electricity, Fuel and Other Consumables Used for Electric Generation (a) | 0.1 | — | — | 0.1 | ||||||||||||||||||||||
| Interest Expense (a) | — | 8.8 | — | 8.8 | ||||||||||||||||||||||
| Amortization of Prior Service Cost (Credit) | — | — | (1.4) | (1.4) | ||||||||||||||||||||||
| Amortization of Actuarial (Gains) Losses | — | — | 0.7 | 0.7 | ||||||||||||||||||||||
| Reclassifications from AOCI, before Income Tax (Expense) Benefit | 0.1 | 8.8 | (0.7) | 8.2 | ||||||||||||||||||||||
| Income Tax (Expense) Benefit | 0.1 | 1.8 | (0.1) | 1.8 | ||||||||||||||||||||||
| Reclassifications from AOCI, Net of Income Tax (Expense) Benefit | — | 7.0 | (0.6) | 6.4 | ||||||||||||||||||||||
| Net Current Period Other Comprehensive Loss | (28.8) | (17.5) | (0.6) | (46.9) | ||||||||||||||||||||||
| Balance in AOCI as of September 30, 2024 | $ | 74.9 | $ | (8.2) | $ | (153.6) | $ | (86.9) | ||||||||||||||||||
| Cash Flow Hedges | Pension | |||||||||||||||||||||||||
| Nine Months Ended September 30, 2025 | Commodity | Interest Rate | and OPEB | Total | ||||||||||||||||||||||
| (in millions) | ||||||||||||||||||||||||||
| Balance in AOCI as of December 31, 2024 | $ | 98.5 | $ | 3.3 | $ | (104.9) | $ | (3.1) | ||||||||||||||||||
| Change in Fair Value Recognized in AOCI, Net of Tax | (14.9) | (1.1) | — | (16.0) | ||||||||||||||||||||||
| Amount of (Gain) Loss Reclassified from AOCI | ||||||||||||||||||||||||||
| Purchased Electricity, Fuel and Other Consumables Used for Electric Generation (a) | (8.5) | — | — | (8.5) | ||||||||||||||||||||||
| Interest Expense (a) | — | (3.5) | — | (3.5) | ||||||||||||||||||||||
| Amortization of Prior Service Cost (Credit) | — | — | (0.6) | (0.6) | ||||||||||||||||||||||
| Amortization of Actuarial (Gains) Losses | — | — | 1.6 | 1.6 | ||||||||||||||||||||||
| Reclassifications from AOCI, before Income Tax (Expense) Benefit | (8.5) | (3.5) | 1.0 | (11.0) | ||||||||||||||||||||||
| Income Tax (Expense) Benefit | (1.8) | (0.7) | 0.2 | (2.3) | ||||||||||||||||||||||
| Reclassifications from AOCI, Net of Income Tax (Expense) Benefit | (6.7) | (2.8) | 0.8 | (8.7) | ||||||||||||||||||||||
| Net Current Period Other Comprehensive Income (Loss) | (21.6) | (3.9) | 0.8 | (24.7) | ||||||||||||||||||||||
| Balance in AOCI as of September 30, 2025 | $ | 76.9 | $ | (0.6) | $ | (104.1) | $ | (27.8) | ||||||||||||||||||
| Cash Flow Hedges | Pension | |||||||||||||||||||||||||
| Nine Months Ended September 30, 2024 | Commodity | Interest Rate | and OPEB | Total | ||||||||||||||||||||||
| (in millions) | ||||||||||||||||||||||||||
| Balance in AOCI as of December 31, 2023 | $ | 104.9 | $ | (8.1) | $ | (152.3) | $ | (55.5) | ||||||||||||||||||
| Change in Fair Value Recognized in AOCI, Net of Tax | (16.3) | (5.2) | — | (21.5) | ||||||||||||||||||||||
| Amount of (Gain) Loss Reclassified from AOCI | ||||||||||||||||||||||||||
| Purchased Electricity, Fuel and Other Consumables Used for Electric Generation (a) | (17.4) | — | — | (17.4) | ||||||||||||||||||||||
| Interest Expense (a) | — | 6.5 | — | 6.5 | ||||||||||||||||||||||
| Amortization of Prior Service Cost (Credit) | — | — | (4.0) | (4.0) | ||||||||||||||||||||||
| Amortization of Actuarial (Gains) Losses | — | — | 2.4 | 2.4 | ||||||||||||||||||||||
| Reclassifications from AOCI, before Income Tax (Expense) Benefit | (17.4) | 6.5 | (1.6) | (12.5) | ||||||||||||||||||||||
| Income Tax (Expense) Benefit | (3.7) | 1.4 | (0.3) | (2.6) | ||||||||||||||||||||||
| Reclassifications from AOCI, Net of Income Tax (Expense) Benefit | (13.7) | 5.1 | (1.3) | (9.9) | ||||||||||||||||||||||
| Net Current Period Other Comprehensive Loss | (30.0) | (0.1) | (1.3) | (31.4) | ||||||||||||||||||||||
| Balance in AOCI as of September 30, 2024 | $ | 74.9 | $ | (8.2) | $ | (153.6) | $ | (86.9) | ||||||||||||||||||
| Plant | Net Book Value | Accelerated Depreciation Regulatory Asset | Cost of Removal Regulatory Liability | Projected Retirement Date | Current Authorized Recovery Period | Annual Depreciation (a) | ||||||||||||||||||||||||||||||||||||||
| (dollars in millions) | ||||||||||||||||||||||||||||||||||||||||||||
| Northeastern Plant, Unit 3 | $ | 73.9 | $ | 212.8 | $ | 21.2 | (b) | 2026 | (c) | $ | 16.1 | |||||||||||||||||||||||||||||||||
| Welsh Plant, Units 1 and 3 | 278.8 | 206.2 | 57.6 | (d) | 2028 | (e) | (f) | 46.5 | ||||||||||||||||||||||||||||||||||||
| AEP | ||||||||||||||
| September 30, | December 31, | |||||||||||||
| 2025 | 2024 | |||||||||||||
| Noncurrent Regulatory Assets | (in millions) | |||||||||||||
| Regulatory Assets Currently Earning a Return | ||||||||||||||
| Welsh Plant, Units 1 and 3 Accelerated Depreciation | $ | 206.2 | $ | 168.6 | ||||||||||
| Pirkey Plant Accelerated Depreciation | 134.1 | 121.3 | ||||||||||||
| Storm-Related Costs | 53.5 | 51.0 | ||||||||||||
| Unrecovered Winter Storm Fuel Costs (a) | 47.2 | 70.7 | ||||||||||||
| Unified Tracking Mechanism Deferred Costs | 39.2 | — | ||||||||||||
| Other Regulatory Assets Pending Final Regulatory Approval | 30.9 | 20.7 | ||||||||||||
| Regulatory Assets Currently Not Earning a Return | ||||||||||||||
| Plant Retirement Costs – Asset Retirement Obligation Costs (b) | 386.5 | 357.4 | ||||||||||||
| Storm-Related Costs (c) | 202.2 | 300.8 | ||||||||||||
| 2024-2025 Virginia Biennial Under-Earnings | 166.0 | 78.4 | ||||||||||||
| NOLC Costs (d) | 95.9 | 92.8 | ||||||||||||
| Other Regulatory Assets Pending Final Regulatory Approval | 130.8 | 86.3 | ||||||||||||
| Total Regulatory Assets Pending Final Regulatory Approval | $ | 1,492.5 | $ | 1,348.0 | ||||||||||
| AEP Texas | ||||||||||||||
| September 30, | December 31, | |||||||||||||
| 2025 | 2024 | |||||||||||||
| Noncurrent Regulatory Assets | (in millions) | |||||||||||||
| Regulatory Assets Currently Earning a Return | ||||||||||||||
| Storm-Related Costs | $ | 41.3 | $ | 41.3 | ||||||||||
| Unified Tracking Mechanism Deferred Costs | 39.2 | — | ||||||||||||
| System Resiliency Plan Deferred Costs | 8.6 | — | ||||||||||||
| Regulatory Assets Currently Not Earning a Return | ||||||||||||||
| Storm-Related Costs | 34.4 | 13.1 | ||||||||||||
| Deferred Pension and OPEB Costs | 24.7 | 15.6 | ||||||||||||
| Line Inspection Costs | 5.8 | 5.8 | ||||||||||||
| Other Regulatory Assets Pending Final Regulatory Approval | 2.9 | 1.3 | ||||||||||||
| Total Regulatory Assets Pending Final Regulatory Approval | $ | 156.9 | $ | 77.1 | ||||||||||
| APCo | ||||||||||||||
| September 30, | December 31, | |||||||||||||
| 2025 | 2024 | |||||||||||||
| Noncurrent Regulatory Assets | (in millions) | |||||||||||||
| Regulatory Assets Currently Earning a Return | ||||||||||||||
| Other Regulatory Assets Pending Final Regulatory Approval | $ | 1.5 | $ | 1.1 | ||||||||||
| Regulatory Assets Currently Not Earning a Return | ||||||||||||||
| Plant Retirement Costs – Asset Retirement Obligation Costs (a) | 305.8 | 282.1 | ||||||||||||
| 2024-2025 Virginia Biennial Under-Earnings | 166.0 | 78.4 | ||||||||||||
| Storm-Related Costs – West Virginia (b) | 49.6 | 144.2 | ||||||||||||
| Pension Settlement | 16.7 | 17.8 | ||||||||||||
| Virginia Retail Consumables Deferral | 12.3 | — | ||||||||||||
| Other Regulatory Assets Pending Final Regulatory Approval | 20.7 | 11.9 | ||||||||||||
| Total Regulatory Assets Pending Final Regulatory Approval | $ | 572.6 | $ | 535.5 | ||||||||||
| OPCo | ||||||||||||||
| September 30, | December 31, | |||||||||||||
| 2025 | 2024 | |||||||||||||
| Noncurrent Regulatory Assets | (in millions) | |||||||||||||
| Regulatory Assets Currently Earning a Return | ||||||||||||||
| Other Regulatory Assets Pending Final Regulatory Approval | $ | 0.9 | $ | 0.4 | ||||||||||
| Regulatory Assets Currently Not Earning a Return | ||||||||||||||
| Other Regulatory Assets Pending Final Regulatory Approval | — | 0.1 | ||||||||||||
| Total Regulatory Assets Pending Final Regulatory Approval | $ | 0.9 | $ | 0.5 | ||||||||||
| PSO | ||||||||||||||
| September 30, | December 31, | |||||||||||||
| 2025 | 2024 | |||||||||||||
| Noncurrent Regulatory Assets | (in millions) | |||||||||||||
| Regulatory Assets Currently Not Earning a Return | ||||||||||||||
| NOLC Costs (a) | $ | 25.4 | $ | 16.4 | ||||||||||
| Storm-Related Costs | 22.4 | 4.9 | ||||||||||||
| Generation PBA and Delayed Retirement Deferral | 7.7 | — | ||||||||||||
| Pension Settlement | 7.4 | 7.8 | ||||||||||||
| Other Regulatory Assets Pending Final Regulatory Approval | 7.8 | 1.2 | ||||||||||||
| Total Regulatory Assets Pending Final Regulatory Approval | $ | 70.7 | $ | 30.3 | ||||||||||
| SWEPCo | ||||||||||||||
| September 30, | December 31, | |||||||||||||
| 2025 | 2024 | |||||||||||||
| Noncurrent Regulatory Assets | (in millions) | |||||||||||||
| Regulatory Assets Currently Earning a Return | ||||||||||||||
| Welsh Plant, Units 1 and 3 Accelerated Depreciation | $ | 206.2 | $ | 168.6 | ||||||||||
| Pirkey Plant Accelerated Depreciation | 134.1 | 121.3 | ||||||||||||
| Unrecovered Winter Storm Fuel Costs (a) | 47.2 | 70.7 | ||||||||||||
| Dolet Hills Power Station Accelerated Depreciation (b) | 12.4 | 11.8 | ||||||||||||
| Storm-Related Costs | 12.2 | 9.7 | ||||||||||||
| Other Regulatory Assets Pending Final Regulatory Approval | 4.3 | 1.1 | ||||||||||||
| Regulatory Assets Currently Not Earning a Return | ||||||||||||||
| NOLC Costs (c) | 70.5 | 49.6 | ||||||||||||
| Storm-Related Costs - Louisiana, Texas | 44.9 | 39.9 | ||||||||||||
| Other Regulatory Assets Pending Final Regulatory Approval | 19.5 | 18.7 | ||||||||||||
| Total Regulatory Assets Pending Final Regulatory Approval | $ | 551.3 | $ | 491.4 | ||||||||||
| Proposed Securitized Items | APCo | WPCo | Total | |||||||||||||||||
| (in millions) | ||||||||||||||||||||
| Undepreciated Utility Plant Balances of Amos, Mitchell and Mountaineer (as of December 31, 2022) | $ | 1,145.5 | $ | 558.7 | $ | 1,704.2 | ||||||||||||||
| ENEC Under-Recovery Regulatory Assets | 166.6 | 245.8 | 412.4 | |||||||||||||||||
| Forecasted Undepreciated CCR and ELG Investments of Amos, Mitchell and Mountaineer (as of November 30, 2024) | 87.6 | 149.2 | 236.8 | |||||||||||||||||
| Deferred Storm O&M Expense Regulatory Assets | 155.0 | 2.9 | 157.9 | |||||||||||||||||
| Upfront Financing Costs | 10.4 | 5.9 | 16.3 | |||||||||||||||||
| Total | $ | 1,565.1 | $ | 962.5 | $ | 2,527.6 | ||||||||||||||
| Jurisdiction | September 30, 2025 | December 31, 2024 | Approved Recovery Period | Approved Carrying Charge | ||||||||||||||||||||||
| (in millions) | ||||||||||||||||||||||||||
| Arkansas | $ | 25.1 | $ | 37.2 | 6 years | (a) | ||||||||||||||||||||
| Louisiana | 47.2 | 70.6 | (b) | (b) | ||||||||||||||||||||||
| Texas | 49.6 | 72.7 | 5 years | 1.65% | ||||||||||||||||||||||
| Total | $ | 121.9 | $ | 180.5 | ||||||||||||||||||||||
| 2021 | 2022 | 2023 | 2024 | 2025 | Total | |||||||||||||||||||||||||||
| (in millions) | ||||||||||||||||||||||||||||||||
| $ | 78.3 | $ | 68.5 | $ | 60.7 | $ | 52.1 | $ | 48.7 | $ | 308.3 | |||||||||||||||||||||
| AEP | AEPTCo | APCo | I&M | OPCo | PSO | SWEPCo | ||||||||||||||||||||||||||||||||||||||
| (in millions) | ||||||||||||||||||||||||||||||||||||||||||||
| Total Revenues | $ | 270.5 | $ | 214.3 | $ | 5.6 | $ | 10.8 | $ | — | $ | 6.4 | $ | 26.9 | ||||||||||||||||||||||||||||||
| Purchased Electricity, Fuel and Other Consumables Used for Electric Generation | (23.9) | — | (17.2) | — | — | — | — | |||||||||||||||||||||||||||||||||||||
| Other Operation | 53.0 | — | 14.8 | (6.0) | 0.1 | 18.8 | 10.1 | |||||||||||||||||||||||||||||||||||||
| Income (Loss) Before Income Tax Expense (Benefit) | 241.4 | 214.3 | 8.0 | 16.8 | (0.1) | (12.4) | 16.8 | |||||||||||||||||||||||||||||||||||||
| Income Tax Expense (Benefit) | (312.8) | (203.2) | (21.4) | (27.8) | — | (15.6) | (38.9) | |||||||||||||||||||||||||||||||||||||
| Net Income (Loss) | 554.2 | 417.5 | 29.4 | 44.6 | (0.1) | 3.2 | 55.7 | |||||||||||||||||||||||||||||||||||||
| Net Income Attributable to Noncontrolling Interest | 55.2 | 55.2 | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||
| Earnings (Loss) Attributable to Common Shareholder | $ | 499.0 | $ | 362.3 | $ | 29.4 | $ | 44.6 | $ | (0.1) | $ | 3.2 | $ | 55.7 | ||||||||||||||||||||||||||||||
| Company | Amount | Maturity | ||||||||||||
| (in millions) | ||||||||||||||
| AEP | $ | 364.0 | October 2025 to September 2026 | |||||||||||
| Company | Maximum Potential Loss | |||||||
| (in millions) | ||||||||
| AEP | $ | 37.9 | ||||||
| AEP Texas | 8.4 | |||||||
| APCo | 5.3 | |||||||
| I&M | 3.9 | |||||||
| OPCo | 6.4 | |||||||
| PSO | 3.5 | |||||||
| SWEPCo | 4.4 | |||||||
| Plant Name | State | Fuel Type | Generation Capacity (MWs) | Property, Plant and Equipment, Net | Operating Lease Assets | Asset Retirement Obligations | Other Liabilities | ||||||||||||||||||||||||||||||||||||||||
| (in millions) | |||||||||||||||||||||||||||||||||||||||||||||||
| Green Country | OK | Natural Gas | 795 | $ | 818.9 | $ | — | $ | — | $ | 91.4 | (a) | |||||||||||||||||||||||||||||||||||
| Pixley | KS | Solar | 189 | 379.6 | 8.9 | 12.4 | — | ||||||||||||||||||||||||||||||||||||||||
| Flat Ridge IV | KS | Wind | 135 | 305.3 | 7.4 | 3.1 | — | ||||||||||||||||||||||||||||||||||||||||
| Flat Ridge V | KS | Wind | 153 | 319.1 | 8.8 | 3.8 | — | ||||||||||||||||||||||||||||||||||||||||
| Total | 1,272 | $ | 1,822.9 | $ | 25.1 | $ | 19.3 | $ | 91.4 | ||||||||||||||||||||||||||||||||||||||
| Three Months Ended September 30, 2025 | AEP | AEP Texas | APCo | I&M | OPCo | PSO | SWEPCo | |||||||||||||||||||||||||||||||||||||
| (in millions) | ||||||||||||||||||||||||||||||||||||||||||||
| Service Cost | $ | 23.9 | $ | 2.2 | $ | 2.3 | $ | 3.2 | $ | 2.2 | $ | 1.5 | $ | 1.9 | ||||||||||||||||||||||||||||||
| Interest Cost | 52.9 | 4.4 | 6.2 | 6.2 | 4.9 | 2.5 | 3.2 | |||||||||||||||||||||||||||||||||||||
| Expected Return on Plan Assets | (70.3) | (5.6) | (9.4) | (9.7) | (7.3) | (3.8) | (3.7) | |||||||||||||||||||||||||||||||||||||
| Amortization of Net Actuarial Loss | 4.1 | 0.3 | 0.5 | 0.4 | 0.4 | 0.3 | 0.2 | |||||||||||||||||||||||||||||||||||||
| Net Periodic Benefit Cost (Credit) | $ | 10.6 | $ | 1.3 | $ | (0.4) | $ | 0.1 | $ | 0.2 | $ | 0.5 | $ | 1.6 | ||||||||||||||||||||||||||||||
| Three Months Ended September 30, 2024 | AEP | AEP Texas | APCo | I&M | OPCo | PSO | SWEPCo | |||||||||||||||||||||||||||||||||||||
| (in millions) | ||||||||||||||||||||||||||||||||||||||||||||
| Service Cost | $ | 25.6 | $ | 2.3 | $ | 2.4 | $ | 3.3 | $ | 2.3 | $ | 1.5 | $ | 1.9 | ||||||||||||||||||||||||||||||
| Interest Cost | 51.9 | 4.4 | 6.2 | 5.9 | 4.8 | 2.5 | 3.1 | |||||||||||||||||||||||||||||||||||||
| Expected Return on Plan Assets | (80.2) | (6.5) | (10.7) | (10.7) | (8.2) | (4.3) | (4.4) | |||||||||||||||||||||||||||||||||||||
| Amortization of Net Actuarial Loss | 1.0 | — | 0.1 | 0.1 | 0.1 | — | 0.1 | |||||||||||||||||||||||||||||||||||||
| Net Periodic Benefit Cost (Credit) (a) | $ | (1.7) | $ | 0.2 | $ | (2.0) | $ | (1.4) | $ | (1.0) | $ | (0.3) | $ | 0.7 | ||||||||||||||||||||||||||||||
| Nine Months Ended September 30, 2025 | AEP | AEP Texas | APCo | I&M | OPCo | PSO | SWEPCo | |||||||||||||||||||||||||||||||||||||
| (in millions) | ||||||||||||||||||||||||||||||||||||||||||||
| Service Cost | $ | 71.8 | $ | 6.6 | $ | 6.9 | $ | 9.5 | $ | 6.8 | $ | 4.5 | $ | 5.7 | ||||||||||||||||||||||||||||||
| Interest Cost | 158.5 | 13.2 | 18.7 | 18.6 | 14.6 | 7.7 | 9.4 | |||||||||||||||||||||||||||||||||||||
| Expected Return on Plan Assets | (210.8) | (16.7) | (28.2) | (29.1) | (22.0) | (11.5) | (11.0) | |||||||||||||||||||||||||||||||||||||
| Amortization of Net Actuarial Loss | 12.2 | 1.0 | 1.4 | 1.3 | 1.1 | 0.6 | 0.7 | |||||||||||||||||||||||||||||||||||||
| Net Periodic Benefit Cost (Credit) | $ | 31.7 | $ | 4.1 | $ | (1.2) | $ | 0.3 | $ | 0.5 | $ | 1.3 | $ | 4.8 | ||||||||||||||||||||||||||||||
| Nine Months Ended September 30, 2024 | AEP | AEP Texas | APCo | I&M | OPCo | PSO | SWEPCo | |||||||||||||||||||||||||||||||||||||
| (in millions) | ||||||||||||||||||||||||||||||||||||||||||||
| Service Cost | $ | 76.8 | $ | 6.7 | $ | 7.3 | $ | 9.9 | $ | 7.0 | $ | 4.6 | $ | 5.9 | ||||||||||||||||||||||||||||||
| Interest Cost | 155.7 | 13.1 | 18.6 | 17.8 | 14.2 | 7.5 | 9.3 | |||||||||||||||||||||||||||||||||||||
| Expected Return on Plan Assets | (240.6) | (19.5) | (32.1) | (32.1) | (24.5) | (13.0) | (13.2) | |||||||||||||||||||||||||||||||||||||
| Amortization of Net Actuarial Loss | 3.2 | 0.2 | 0.3 | 0.3 | 0.2 | 0.1 | 0.2 | |||||||||||||||||||||||||||||||||||||
| Net Periodic Benefit Cost (Credit) (a) | $ | (4.9) | $ | 0.5 | $ | (5.9) | $ | (4.1) | $ | (3.1) | $ | (0.8) | $ | 2.2 | ||||||||||||||||||||||||||||||
| Three Months Ended September 30, 2025 | AEP | AEP Texas | APCo | I&M | OPCo | PSO | SWEPCo | |||||||||||||||||||||||||||||||||||||
| (in millions) | ||||||||||||||||||||||||||||||||||||||||||||
| Service Cost | $ | 0.9 | $ | — | $ | — | $ | — | $ | 0.1 | $ | 0.1 | $ | 0.1 | ||||||||||||||||||||||||||||||
| Interest Cost | 8.5 | 0.7 | 1.4 | 1.0 | 0.8 | 0.4 | 0.5 | |||||||||||||||||||||||||||||||||||||
| Expected Return on Plan Assets | (28.2) | (2.3) | (4.1) | (3.4) | (2.9) | (1.6) | (1.9) | |||||||||||||||||||||||||||||||||||||
| Amortization of Prior Service Credit | (0.6) | — | (0.1) | — | (0.1) | — | — | |||||||||||||||||||||||||||||||||||||
| Amortization of Net Actuarial Gain | (0.3) | — | (0.1) | — | — | — | — | |||||||||||||||||||||||||||||||||||||
| Net Periodic Benefit Credit | $ | (19.7) | $ | (1.6) | $ | (2.9) | $ | (2.4) | $ | (2.1) | $ | (1.1) | $ | (1.3) | ||||||||||||||||||||||||||||||
| Three Months Ended September 30, 2024 | AEP | AEP Texas | APCo | I&M | OPCo | PSO | SWEPCo | |||||||||||||||||||||||||||||||||||||
| (in millions) | ||||||||||||||||||||||||||||||||||||||||||||
| Service Cost | $ | 1.1 | $ | — | $ | 0.2 | $ | 0.1 | $ | — | $ | 0.1 | $ | 0.1 | ||||||||||||||||||||||||||||||
| Interest Cost | 10.3 | 0.9 | 1.7 | 1.2 | 1.1 | 0.6 | 0.7 | |||||||||||||||||||||||||||||||||||||
| Expected Return on Plan Assets | (27.8) | (2.3) | (4.1) | (3.4) | (3.0) | (1.5) | (1.9) | |||||||||||||||||||||||||||||||||||||
| Amortization of Prior Service Credit | (3.1) | (0.3) | (0.5) | (0.4) | (0.3) | (0.2) | (0.3) | |||||||||||||||||||||||||||||||||||||
| Amortization of Net Actuarial Loss | 0.8 | 0.1 | 0.1 | 0.1 | 0.1 | — | 0.1 | |||||||||||||||||||||||||||||||||||||
| Net Periodic Benefit Credit (a) | $ | (18.7) | $ | (1.6) | $ | (2.6) | $ | (2.4) | $ | (2.1) | $ | (1.0) | $ | (1.3) | ||||||||||||||||||||||||||||||
| Nine Months Ended September 30, 2025 | AEP | AEP Texas | APCo | I&M | OPCo | PSO | SWEPCo | |||||||||||||||||||||||||||||||||||||
| (in millions) | ||||||||||||||||||||||||||||||||||||||||||||
| Service Cost | $ | 2.7 | $ | 0.2 | $ | 0.3 | $ | 0.3 | $ | 0.3 | $ | 0.2 | $ | 0.2 | ||||||||||||||||||||||||||||||
| Interest Cost | 25.7 | 2.0 | 4.1 | 2.9 | 2.5 | 1.3 | 1.6 | |||||||||||||||||||||||||||||||||||||
| Expected Return on Plan Assets | (84.7) | (7.0) | (12.3) | (10.1) | (8.8) | (4.6) | (5.7) | |||||||||||||||||||||||||||||||||||||
| Amortization of Prior Service Credit | (1.8) | (0.1) | (0.3) | (0.2) | (0.2) | (0.1) | (0.1) | |||||||||||||||||||||||||||||||||||||
| Amortization of Net Actuarial Gain | (0.9) | — | (0.3) | — | — | — | — | |||||||||||||||||||||||||||||||||||||
| Net Periodic Benefit Credit | $ | (59.0) | $ | (4.9) | $ | (8.5) | $ | (7.1) | $ | (6.2) | $ | (3.2) | $ | (4.0) | ||||||||||||||||||||||||||||||
| Nine Months Ended September 30, 2024 | AEP | AEP Texas | APCo | I&M | OPCo | PSO | SWEPCo | |||||||||||||||||||||||||||||||||||||
| (in millions) | ||||||||||||||||||||||||||||||||||||||||||||
| Service Cost | $ | 3.3 | $ | 0.2 | $ | 0.4 | $ | 0.4 | $ | 0.2 | $ | 0.2 | $ | 0.3 | ||||||||||||||||||||||||||||||
| Interest Cost | 31.4 | 2.5 | 5.0 | 3.6 | 3.2 | 1.7 | 2.0 | |||||||||||||||||||||||||||||||||||||
| Expected Return on Plan Assets | (83.5) | (6.8) | (12.2) | (10.1) | (8.9) | (4.5) | (5.6) | |||||||||||||||||||||||||||||||||||||
| Amortization of Prior Service Credit | (9.5) | (0.8) | (1.4) | (1.3) | (0.9) | (0.6) | (0.8) | |||||||||||||||||||||||||||||||||||||
| Amortization of Net Actuarial Loss | 2.3 | 0.2 | 0.3 | 0.3 | 0.3 | 0.1 | 0.2 | |||||||||||||||||||||||||||||||||||||
| Net Periodic Benefit Credit (a) | $ | (56.0) | $ | (4.7) | $ | (7.9) | $ | (7.1) | $ | (6.1) | $ | (3.1) | $ | (3.9) | ||||||||||||||||||||||||||||||
| Company | Qualified Pension Plan | |||||||
| (in millions) | ||||||||
| AEP | $ | 94.7 | ||||||
| AEP Texas | 12.0 | |||||||
| APCo | 0.4 | |||||||
| I&M | 2.1 | |||||||
| PSO | 1.4 | |||||||
| SWEPCo | 8.8 | |||||||
| Three Months Ended September 30, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||
| VIU | T&D | AEPTHCo | G&M | Total Reportable Segments | Corporate and Other (a) | Reconciling Adjustments | Consolidated | |||||||||||||||||||||||||||||||||||||||||||
| (in millions) | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Revenues from: | ||||||||||||||||||||||||||||||||||||||||||||||||||
| External Customers | $ | 3,511.2 | $ | 1,680.2 | $ | 119.7 | $ | 693.8 | $ | 6,004.9 | $ | 5.5 | $ | — | $ | 6,010.4 | ||||||||||||||||||||||||||||||||||
| Other Operating Segments | 74.5 | 9.1 | 453.5 | 18.9 | 556.0 | 30.4 | (586.4) | (b) | — | |||||||||||||||||||||||||||||||||||||||||
| Total Revenues | 3,585.7 | 1,689.3 | 573.2 | 712.7 | 6,560.9 | 35.9 | (586.4) | 6,010.4 | ||||||||||||||||||||||||||||||||||||||||||
| Purchased Electricity, Fuel and Other Consumables Used for Electric Generation | 1,168.4 | 263.8 | — | 624.9 | 2,057.1 | — | (76.9) | 1,980.2 | ||||||||||||||||||||||||||||||||||||||||||
| Other Operation and Maintenance | 998.2 | 623.5 | 53.3 | 35.4 | 1,710.4 | 8.1 | (515.6) | 1,202.9 | ||||||||||||||||||||||||||||||||||||||||||
| Depreciation and Amortization | 547.4 | 209.8 | 123.5 | 3.9 | 884.6 | (5.0) | — | 879.6 | ||||||||||||||||||||||||||||||||||||||||||
| Taxes Other Than Income Taxes | 141.6 | 190.4 | 87.3 | 0.7 | 420.0 | 0.2 | 6.1 | 426.3 | ||||||||||||||||||||||||||||||||||||||||||
| Allowance for Equity Funds Used During Construction | 19.4 | 18.3 | 20.8 | — | 58.5 | — | — | 58.5 | ||||||||||||||||||||||||||||||||||||||||||
| Interest Expense | 219.1 | 106.4 | 63.3 | 1.5 | 390.3 | 140.2 | (22.0) | 508.5 | ||||||||||||||||||||||||||||||||||||||||||
| Income Tax Expense (Benefit) | (25.6) | 57.2 | 62.0 | 15.5 | 109.1 | 29.6 | — | 138.7 | ||||||||||||||||||||||||||||||||||||||||||
| Equity Earnings of Unconsolidated Subsidiaries | 0.2 | 0.1 | 20.8 | — | 21.1 | — | — | 21.1 | ||||||||||||||||||||||||||||||||||||||||||
| Other Segment Items (c) | (22.0) | (11.0) | 25.5 | (13.5) | (21.0) | (19.2) | 22.0 | (18.2) | ||||||||||||||||||||||||||||||||||||||||||
| Earnings (Loss) Attributable to AEP Common Shareholders | $ | 578.2 | $ | 267.6 | $ | 199.9 | $ | 44.3 | $ | 1,090.0 | $ | (118.0) | $ | — | $ | 972.0 | ||||||||||||||||||||||||||||||||||
| Gross Property Additions | $ | 1,203.2 | $ | 711.2 | $ | 368.0 | $ | 3.2 | $ | 2,285.6 | $ | 18.5 | $ | (25.1) | $ | 2,279.0 | ||||||||||||||||||||||||||||||||||
| Three Months Ended September 30, 2024 | ||||||||||||||||||||||||||||||||||||||||||||||||||
| VIU | T&D | AEPTHCo | G&M | Total Reportable Segments | Corporate and Other (a) | Reconciling Adjustments | Consolidated | |||||||||||||||||||||||||||||||||||||||||||
| (in millions) | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Revenues from: | ||||||||||||||||||||||||||||||||||||||||||||||||||
| External Customers | $ | 3,248.8 | $ | 1,568.5 | $ | 113.1 | $ | 483.7 | $ | 5,414.1 | $ | 6.0 | $ | — | $ | 5,420.1 | ||||||||||||||||||||||||||||||||||
| Other Operating Segments | 54.2 | 6.9 | 399.4 | 15.4 | 475.9 | 32.1 | (508.0) | (b) | — | |||||||||||||||||||||||||||||||||||||||||
| Total Revenues | 3,303.0 | 1,575.4 | 512.5 | 499.1 | 5,890.0 | 38.1 | (508.0) | 5,420.1 | ||||||||||||||||||||||||||||||||||||||||||
| Purchased Electricity, Fuel and Other Consumables Used for Electric Generation | 1,100.4 | 213.2 | — | 413.6 | 1,727.2 | — | (68.0) | 1,659.2 | ||||||||||||||||||||||||||||||||||||||||||
| Other Operation and Maintenance | 881.6 | 599.1 | 40.0 | 20.6 | 1,541.3 | 53.6 | (445.4) | 1,149.5 | ||||||||||||||||||||||||||||||||||||||||||
| Depreciation and Amortization | 530.6 | 212.8 | 110.5 | 4.0 | 857.9 | (5.2) | — | 852.7 | ||||||||||||||||||||||||||||||||||||||||||
| Taxes Other Than Income Taxes | 138.1 | 181.6 | 81.2 | 0.8 | 401.7 | 0.1 | 5.4 | 407.2 | ||||||||||||||||||||||||||||||||||||||||||
| Allowance for Equity Funds Used During Construction | 12.9 | 17.0 | 24.3 | — | 54.2 | — | — | 54.2 | ||||||||||||||||||||||||||||||||||||||||||
| Interest Expense | 189.9 | 106.4 | 56.2 | 4.0 | 356.5 | 168.4 | (26.1) | 498.8 | ||||||||||||||||||||||||||||||||||||||||||
| Income Tax Expense (Benefit) | (64.6) | 49.4 | 60.9 | (23.1) | 22.6 | 14.9 | — | 37.5 | ||||||||||||||||||||||||||||||||||||||||||
| Equity Earnings (Loss) of Unconsolidated Subsidiaries | 0.4 | — | 23.0 | — | 23.4 | (6.1) | — | 17.3 | ||||||||||||||||||||||||||||||||||||||||||
| Other Segment Items (c) | (31.2) | (15.3) | (3.7) | (14.1) | (64.3) | (34.7) | 26.1 | (72.9) | ||||||||||||||||||||||||||||||||||||||||||
| Earnings (Loss) Attributable to AEP Common Shareholders | $ | 571.5 | $ | 245.2 | $ | 214.7 | $ | 93.3 | $ | 1,124.7 | $ | (165.1) | $ | — | $ | 959.6 | ||||||||||||||||||||||||||||||||||
| Gross Property Additions | $ | 809.3 | $ | 609.7 | $ | 425.8 | $ | 13.2 | $ | 1,858.0 | $ | 7.4 | $ | (15.1) | $ | 1,850.3 | ||||||||||||||||||||||||||||||||||
| Nine Months Ended September 30, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||
| VIU | T&D | AEPTHCo | G&M | Total Reportable Segments | Corporate and Other (a) | Reconciling Adjustments | Consolidated | |||||||||||||||||||||||||||||||||||||||||||
| (in millions) | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Revenues from: | ||||||||||||||||||||||||||||||||||||||||||||||||||
| External Customers | $ | 9,531.2 | $ | 4,638.3 | $ | 390.7 | $ | 1,975.4 | $ | 16,535.6 | $ | 25.1 | $ | — | $ | 16,560.7 | ||||||||||||||||||||||||||||||||||
| Other Operating Segments | 207.5 | 27.7 | 1,481.2 | 50.4 | 1,766.8 | 85.0 | (1,851.8) | (b) | — | |||||||||||||||||||||||||||||||||||||||||
| Total Revenues | 9,738.7 | 4,666.0 | 1,871.9 | 2,025.8 | 18,302.4 | 110.1 | (1,851.8) | 16,560.7 | ||||||||||||||||||||||||||||||||||||||||||
| Purchased Electricity, Fuel and Other Consumables Used for Electric Generation | 3,164.3 | 730.3 | — | 1,700.8 | 5,595.4 | — | (220.9) | 5,374.5 | ||||||||||||||||||||||||||||||||||||||||||
| Other Operation and Maintenance | 2,863.4 | 1,741.7 | 135.7 | 65.5 | 4,806.3 | 44.4 | (1,648.6) | 3,202.1 | ||||||||||||||||||||||||||||||||||||||||||
| Depreciation and Amortization | 1,593.9 | 614.2 | 360.8 | 12.3 | 2,581.2 | (15.1) | — | 2,566.1 | ||||||||||||||||||||||||||||||||||||||||||
| Taxes Other Than Income Taxes | 398.1 | 554.9 | 240.1 | 1.7 | 1,194.8 | 0.8 | 17.7 | 1,213.3 | ||||||||||||||||||||||||||||||||||||||||||
| Allowance for Equity Funds Used During Construction | 51.8 | 56.4 | 64.7 | — | 172.9 | — | — | 172.9 | ||||||||||||||||||||||||||||||||||||||||||
| Interest Expense | 620.8 | 318.0 | 178.9 | 5.4 | 1,123.1 | 438.3 | (68.5) | 1,492.9 | ||||||||||||||||||||||||||||||||||||||||||
| Income Tax Expense (Benefit) | (117.2) | 141.9 | (10.4) | 70.0 | 84.3 | (71.0) | — | 13.3 | ||||||||||||||||||||||||||||||||||||||||||
| Equity Earnings of Unconsolidated Subsidiaries | 0.8 | 1.5 | 66.5 | — | 68.8 | 11.1 | — | 79.9 | ||||||||||||||||||||||||||||||||||||||||||
| Other Segment Items (c) | (67.0) | (33.2) | 85.1 | (38.7) | (53.8) | (61.4) | 68.5 | (46.7) | ||||||||||||||||||||||||||||||||||||||||||
| Earnings (Loss) Attributable to AEP Common Shareholders | $ | 1,335.0 | $ | 656.1 | $ | 1,012.9 | $ | 208.8 | $ | 3,212.8 | $ | (214.8) | $ | — | $ | 2,998.0 | ||||||||||||||||||||||||||||||||||
| Gross Property Additions | $ | 4,356.4 | $ | 2,078.9 | $ | 1,181.9 | $ | 9.9 | $ | 7,627.1 | $ | 54.3 | $ | (22.9) | $ | 7,658.5 | ||||||||||||||||||||||||||||||||||
| Nine Months Ended September 30, 2024 | ||||||||||||||||||||||||||||||||||||||||||||||||||
| VIU | T&D | AEPTHCo | G&M | Total Reportable Segments | Corporate and Other (a) | Reconciling Adjustments | Consolidated | |||||||||||||||||||||||||||||||||||||||||||
| (in millions) | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Revenues from: | ||||||||||||||||||||||||||||||||||||||||||||||||||
| External Customers | $ | 8,722.0 | $ | 4,480.5 | $ | 332.3 | $ | 1,442.1 | $ | 14,976.9 | $ | 48.1 | $ | — | $ | 15,025.0 | ||||||||||||||||||||||||||||||||||
| Other Operating Segments | 147.9 | 21.0 | 1,167.4 | 88.0 | 1,424.3 | 100.5 | (1,524.8) | (b) | — | |||||||||||||||||||||||||||||||||||||||||
| Total Revenues | 8,869.9 | 4,501.5 | 1,499.7 | 1,530.1 | 16,401.2 | 148.6 | (1,524.8) | 15,025.0 | ||||||||||||||||||||||||||||||||||||||||||
| Purchased Electricity, Fuel and Other Consumables Used for Electric Generation | 2,970.3 | 729.0 | — | 1,151.0 | 4,850.3 | — | (246.8) | 4,603.5 | ||||||||||||||||||||||||||||||||||||||||||
| Other Operation and Maintenance | 2,720.1 | 1,639.0 | 122.8 | 94.5 | 4,576.4 | 114.6 | (1,292.9) | 3,398.1 | ||||||||||||||||||||||||||||||||||||||||||
| Asset Impairments and Other Related Charges | 13.4 | 52.9 | — | 76.2 | 142.5 | — | — | 142.5 | ||||||||||||||||||||||||||||||||||||||||||
| Depreciation and Amortization | 1,470.4 | 662.2 | 327.5 | 17.3 | 2,477.4 | (15.7) | — | 2,461.7 | ||||||||||||||||||||||||||||||||||||||||||
| Taxes Other Than Income Taxes | 410.7 | 550.4 | 233.4 | 1.5 | 1,196.0 | 0.3 | 14.9 | 1,211.2 | ||||||||||||||||||||||||||||||||||||||||||
| Allowance for Equity Funds Used During Construction | 37.4 | 50.9 | 64.7 | — | 153.0 | — | — | 153.0 | ||||||||||||||||||||||||||||||||||||||||||
| Interest Expense | 537.3 | 298.4 | 166.4 | 14.9 | 1,017.0 | 479.5 | (96.5) | 1,400.0 | ||||||||||||||||||||||||||||||||||||||||||
| Income Tax Expense (Benefit) | (324.5) | 116.3 | 172.2 | (4.3) | (40.3) | (57.4) | — | (97.7) | ||||||||||||||||||||||||||||||||||||||||||
| Equity Earnings (Loss) of Unconsolidated Subsidiaries | 1.1 | (0.8) | 72.6 | 0.9 | 73.8 | (6.8) | — | 67.0 | ||||||||||||||||||||||||||||||||||||||||||
| Other Segment Items (c) | (87.3) | (38.9) | (9.4) | (46.2) | (181.8) | (92.0) | 96.5 | (177.3) | ||||||||||||||||||||||||||||||||||||||||||
| Earnings (Loss) Attributable to AEP Common Shareholders | $ | 1,198.0 | $ | 542.3 | $ | 624.1 | $ | 226.1 | $ | 2,590.5 | $ | (287.5) | $ | — | $ | 2,303.0 | ||||||||||||||||||||||||||||||||||
| Gross Property Additions | $ | 2,290.2 | $ | 1,730.8 | $ | 1,120.4 | $ | 33.2 | $ | 5,174.6 | $ | 16.9 | $ | (22.9) | $ | 5,168.6 | ||||||||||||||||||||||||||||||||||
| September 30, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||
| VIU | T&D | AEPTHCo | G&M | Total Reportable Segments | Corporate and Other (a) | Reconciling Adjustments | Consolidated | |||||||||||||||||||||||||||||||||||||||||||
| (in millions) | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Assets | $ | 59,005.8 | $ | 28,429.9 | $ | 18,918.9 | $ | 1,899.7 | $ | 108,254.3 | $ | 6,172.3 | (d) | $ | (4,173.1) | (e) | $ | 110,253.5 | ||||||||||||||||||||||||||||||||
| Investments in Equity Method Investees | $ | 8.8 | $ | 3.6 | $ | 1,057.9 | $ | — | $ | 1,070.3 | $ | 165.5 | $ | — | $ | 1,235.8 | ||||||||||||||||||||||||||||||||||
| December 31, 2024 | ||||||||||||||||||||||||||||||||||||||||||||||||||
| VIU | T&D | AEPTHCo | G&M | Total Reportable Segments | Corporate and Other (a) | Reconciling Adjustments | Consolidated | |||||||||||||||||||||||||||||||||||||||||||
| (in millions) | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Assets | $ | 54,996.5 | $ | 26,864.3 | $ | 18,011.9 | $ | 1,633.9 | $ | 101,506.6 | $ | 5,550.8 | (d) | $ | (3,979.4) | (e) | $ | 103,078.0 | ||||||||||||||||||||||||||||||||
| Investments in Equity Method Investees | $ | 9.1 | $ | 2.0 | $ | 996.1 | $ | — | $ | 1,007.2 | $ | 48.7 | $ | — | $ | 1,055.9 | ||||||||||||||||||||||||||||||||||
| Three Months Ended September 30, 2025 | |||||||||||||||||||||||
| State Transcos | AEPTCo Parent | Reconciling Adjustments | AEPTCo Consolidated | ||||||||||||||||||||
| (in millions) | |||||||||||||||||||||||
| Revenues from: | |||||||||||||||||||||||
External Customers | $ | 107.9 | $ | — | $ | — | $ | 107.9 | |||||||||||||||
Sales to AEP Affiliates | 450.1 | — | — | 450.1 | |||||||||||||||||||
| Total Revenues | 558.0 | — | — | 558.0 | |||||||||||||||||||
| Other Operation and Maintenance | 49.8 | 0.1 | — | 49.9 | |||||||||||||||||||
Depreciation and Amortization | 121.3 | — | — | 121.3 | |||||||||||||||||||
| Taxes Other Than Income Taxes | 85.9 | — | — | 85.9 | |||||||||||||||||||
Interest Income | 0.8 | 65.5 | (65.0) | (a) | 1.3 | ||||||||||||||||||
| Allowance for Equity Funds Used During Construction | 20.8 | — | — | 20.8 | |||||||||||||||||||
| Interest Expense | 61.2 | 65.1 | (65.0) | (a) | 61.3 | ||||||||||||||||||
| Income Tax Expense | 56.1 | 0.1 | — | 56.2 | |||||||||||||||||||
| Other Segment Items (b) | — | 26.6 | — | 26.6 | |||||||||||||||||||
| Earnings (Loss) Attributable to AEPTCo Common Shareholders | $ | 205.3 | $ | (26.4) | (c) | $ | — | $ | 178.9 | ||||||||||||||
| Gross Property Additions | $ | 357.8 | $ | — | $ | — | $ | 357.8 | |||||||||||||||
| Three Months Ended September 30, 2024 | |||||||||||||||||||||||
| State Transcos | AEPTCo Parent | Reconciling Adjustments | AEPTCo Consolidated | ||||||||||||||||||||
| (in millions) | |||||||||||||||||||||||
| Revenues from: | |||||||||||||||||||||||
External Customers | $ | 101.1 | $ | — | $ | — | $ | 101.1 | |||||||||||||||
Sales to AEP Affiliates | 395.9 | — | — | 395.9 | |||||||||||||||||||
Other Revenues | 0.2 | — | — | 0.2 | |||||||||||||||||||
| Total Revenues | 497.2 | — | — | 497.2 | |||||||||||||||||||
| Other Operation and Maintenance | 37.3 | 0.1 | — | 37.4 | |||||||||||||||||||
Depreciation and Amortization | 108.2 | — | — | 108.2 | |||||||||||||||||||
| Taxes Other Than Income Taxes | 79.7 | — | — | 79.7 | |||||||||||||||||||
Interest Income | 2.3 | 61.7 | (60.9) | (a) | 3.1 | ||||||||||||||||||
| Allowance for Equity Funds Used During Construction | 24.3 | — | — | 24.3 | |||||||||||||||||||
| Interest Expense | 54.2 | 61.0 | (60.9) | (a) | 54.3 | ||||||||||||||||||
| Income Tax Expense | 53.6 | 0.1 | — | 53.7 | |||||||||||||||||||
| Earnings Attributable to AEPTCo Common Shareholders | $ | 190.8 | $ | 0.5 | (c) | $ | — | $ | 191.3 | ||||||||||||||
| Gross Property Additions | $ | 385.1 | $ | — | $ | — | $ | 385.1 | |||||||||||||||
| Nine Months Ended September 30, 2025 | |||||||||||||||||||||||
| State Transcos | AEPTCo Parent | Reconciling Adjustments | AEPTCo Consolidated | ||||||||||||||||||||
| (in millions) | |||||||||||||||||||||||
| Revenues from: | |||||||||||||||||||||||
External Customers | $ | 356.8 | $ | — | $ | — | $ | 356.8 | |||||||||||||||
Sales to AEP Affiliates | 1,470.0 | — | — | 1,470.0 | |||||||||||||||||||
Other Revenues | 0.1 | — | — | 0.1 | |||||||||||||||||||
| Total Revenues | 1,826.9 | — | — | 1,826.9 | |||||||||||||||||||
| Other Operation and Maintenance | 126.2 | 0.3 | — | 126.5 | |||||||||||||||||||
Depreciation and Amortization | 354.3 | — | — | 354.3 | |||||||||||||||||||
| Taxes Other Than Income Taxes | 235.8 | — | — | 235.8 | |||||||||||||||||||
Interest Income | 1.8 | 238.8 | (237.5) | (a) | 3.1 | ||||||||||||||||||
| Allowance for Equity Funds Used During Construction | 64.7 | — | — | 64.7 | |||||||||||||||||||
| Interest Expense | 222.7 | 187.7 | (237.5) | (a) | 172.9 | ||||||||||||||||||
| Income Tax Expense (Benefit) | (39.1) | 10.8 | — | (28.3) | |||||||||||||||||||
| Other Segment Items (b) | — | 87.3 | — | 87.3 | |||||||||||||||||||
| Earnings (Loss) Attributable to AEPTCo Common Shareholders | $ | 993.5 | $ | (47.3) | (c) | $ | — | $ | 946.2 | ||||||||||||||
| Gross Property Additions | $ | 1,144.7 | $ | — | $ | — | $ | 1,144.7 | |||||||||||||||
| Nine Months Ended September 30, 2024 | |||||||||||||||||||||||
| State Transcos | AEPTCo Parent | Reconciling Adjustments | AEPTCo Consolidated | ||||||||||||||||||||
| (in millions) | |||||||||||||||||||||||
| Revenues from: | |||||||||||||||||||||||
External Customers | $ | 295.1 | $ | — | $ | — | $ | 295.1 | |||||||||||||||
Sales to AEP Affiliates | 1,157.1 | — | — | 1,157.1 | |||||||||||||||||||
Other Revenues | 3.0 | — | — | 3.0 | |||||||||||||||||||
| Total Revenues | 1,455.2 | — | — | 1,455.2 | |||||||||||||||||||
| Other Operation and Maintenance | 115.9 | 1.7 | — | 117.6 | |||||||||||||||||||
Depreciation and Amortization | 320.8 | — | — | 320.8 | |||||||||||||||||||
| Taxes Other Than Income Taxes | 228.6 | — | — | 228.6 | |||||||||||||||||||
Interest Income | 6.8 | 180.5 | (178.0) | (a) | 9.3 | ||||||||||||||||||
| Allowance for Equity Funds Used During Construction | 64.7 | — | — | 64.7 | |||||||||||||||||||
| Interest Expense | 160.3 | 178.2 | (178.0) | (a) | 160.5 | ||||||||||||||||||
| Income Tax Expense | 153.4 | 0.1 | — | 153.5 | |||||||||||||||||||
| Earnings Attributable to AEPTCo Common Shareholders | $ | 547.7 | $ | 0.5 | (c) | $ | — | $ | 548.2 | ||||||||||||||
| Gross Property Additions | $ | 1,042.9 | $ | — | $ | — | $ | 1,042.9 | |||||||||||||||
| September 30, 2025 | |||||||||||||||||||||||
| State Transcos | AEPTCo Parent | Reconciling Adjustments | AEPTCo Consolidated | ||||||||||||||||||||
| (in millions) | |||||||||||||||||||||||
| Total Assets | $ | 17,222.2 | $ | 6,396.4 | (d) | $ | (6,410.0) | (e) | $ | 17,208.6 | |||||||||||||
| December 31, 2024 | |||||||||||||||||||||||
| State Transcos | AEPTCo Parent | Reconciling Adjustments | AEPTCo Consolidated | ||||||||||||||||||||
| (in millions) | |||||||||||||||||||||||
| Total Assets | $ | 16,887.7 | $ | 8,670.4 | (d) | $ | (9,187.8) | (e) | $ | 16,370.3 | |||||||||||||
| Notional Volume of Derivative Instruments | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| September 30, 2025 | December 31, 2024 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Primary Risk Exposure | AEP | AEP Texas | APCo | I&M | OPCo | PSO | SWEPCo | AEP | AEP Texas | APCo | I&M | OPCo | PSO | SWEPCo | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| (in millions) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Commodity: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Power (MWhs) | 327.3 | — | 37.9 | 11.7 | 1.8 | 11.3 | 9.4 | 282.4 | — | 23.6 | 7.7 | 2.0 | 5.0 | 4.6 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Natural Gas (MMBtus) | 168.5 | — | 46.8 | — | — | 42.0 | 19.2 | 152.8 | — | 42.2 | — | — | 46.2 | 15.4 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Heating Oil and Gasoline (Gallons) | 7.5 | 2.1 | 0.9 | 1.4 | 1.1 | 0.7 | 0.9 | 7.9 | 2.0 | 0.9 | 2.0 | 1.1 | 0.7 | 0.9 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Interest Rate (USD) | $ | 39.5 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 59.3 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Interest Rate on Long-term Debt (USD) | $ | 950.0 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 950.0 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| September 30, 2025 | ||||||||||||||||||||||||||||||||||||||||||||
| AEP | AEP Texas | APCo | I&M | OPCo | PSO | SWEPCo | ||||||||||||||||||||||||||||||||||||||
| Assets: | (in millions) | |||||||||||||||||||||||||||||||||||||||||||
| Current Risk Management Assets | ||||||||||||||||||||||||||||||||||||||||||||
| Risk Management Contracts - Commodity | $ | 654.2 | $ | 0.1 | $ | 94.4 | $ | 19.6 | $ | — | $ | 68.6 | $ | 59.6 | ||||||||||||||||||||||||||||||
| Hedging Contracts - Commodity | 54.4 | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||
| Total Current Risk Management Assets | 708.6 | 0.1 | 94.4 | 19.6 | — | 68.6 | 59.6 | |||||||||||||||||||||||||||||||||||||
| Long-term Risk Management Assets | ||||||||||||||||||||||||||||||||||||||||||||
| Risk Management Contracts - Commodity | 445.0 | — | 2.5 | 1.4 | — | — | 0.2 | |||||||||||||||||||||||||||||||||||||
| Hedging Contracts - Commodity | 65.1 | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||
| Total Long-term Risk Management Assets | 510.1 | — | 2.5 | 1.4 | — | — | 0.2 | |||||||||||||||||||||||||||||||||||||
| Total Assets | $ | 1,218.7 | $ | 0.1 | $ | 96.9 | $ | 21.0 | $ | — | $ | 68.6 | $ | 59.8 | ||||||||||||||||||||||||||||||
| Liabilities: | ||||||||||||||||||||||||||||||||||||||||||||
| Current Risk Management Liabilities | ||||||||||||||||||||||||||||||||||||||||||||
| Risk Management Contracts - Commodity | $ | 360.8 | $ | — | $ | 5.0 | $ | 11.8 | $ | 6.3 | $ | 16.4 | $ | 6.2 | ||||||||||||||||||||||||||||||
| Hedging Contracts - Commodity | 15.7 | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||
| Hedging Contracts - Interest Rate | 27.4 | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||
| Total Current Risk Management Liabilities | 403.9 | — | 5.0 | 11.8 | 6.3 | 16.4 | 6.2 | |||||||||||||||||||||||||||||||||||||
| Long-term Risk Management Liabilities | ||||||||||||||||||||||||||||||||||||||||||||
| Risk Management Contracts - Commodity | 359.3 | — | 0.5 | 1.6 | 38.0 | 1.4 | 1.2 | |||||||||||||||||||||||||||||||||||||
| Hedging Contracts - Commodity | 6.5 | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||
| Hedging Contracts - Interest Rate | 21.6 | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||
| Total Long-term Risk Management Liabilities | 387.4 | — | 0.5 | 1.6 | 38.0 | 1.4 | 1.2 | |||||||||||||||||||||||||||||||||||||
| Total Liabilities | $ | 791.3 | $ | — | $ | 5.5 | $ | 13.4 | $ | 44.3 | $ | 17.8 | $ | 7.4 | ||||||||||||||||||||||||||||||
| Total MTM Derivative Contract Net Assets (Liabilities) Recognized | $ | 427.4 | $ | 0.1 | $ | 91.4 | $ | 7.6 | $ | (44.3) | $ | 50.8 | $ | 52.4 | ||||||||||||||||||||||||||||||
| December 31, 2024 | ||||||||||||||||||||||||||||||||||||||||||||
| AEP | AEP Texas | APCo | I&M | OPCo | PSO | SWEPCo | ||||||||||||||||||||||||||||||||||||||
| Assets: | (in millions) | |||||||||||||||||||||||||||||||||||||||||||
| Current Risk Management Assets | ||||||||||||||||||||||||||||||||||||||||||||
| Risk Management Contracts - Commodity | $ | 425.0 | $ | — | $ | 40.2 | $ | 28.5 | $ | — | $ | 22.3 | $ | 19.1 | ||||||||||||||||||||||||||||||
| Hedging Contracts - Commodity | 54.1 | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||
| Total Current Risk Management Assets | 479.1 | — | 40.2 | 28.5 | — | 22.3 | 19.1 | |||||||||||||||||||||||||||||||||||||
| Long-term Risk Management Assets | ||||||||||||||||||||||||||||||||||||||||||||
| Risk Management Contracts - Commodity | 475.4 | — | 2.0 | 1.2 | — | 1.6 | — | |||||||||||||||||||||||||||||||||||||
| Hedging Contracts - Commodity | 84.6 | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||
| Total Long-term Risk Management Assets | 560.0 | — | 2.0 | 1.2 | — | 1.6 | — | |||||||||||||||||||||||||||||||||||||
| Total Assets | $ | 1,039.1 | $ | — | $ | 42.2 | $ | 29.7 | $ | — | $ | 23.9 | $ | 19.1 | ||||||||||||||||||||||||||||||
| Liabilities: | ||||||||||||||||||||||||||||||||||||||||||||
| Current Risk Management Liabilities | ||||||||||||||||||||||||||||||||||||||||||||
| Risk Management Contracts - Commodity | $ | 304.1 | $ | 0.3 | $ | 6.6 | $ | 10.5 | $ | 7.5 | $ | 7.6 | $ | 3.4 | ||||||||||||||||||||||||||||||
| Hedging Contracts - Commodity | 11.3 | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||
| Hedging Contracts - Interest Rate | 36.3 | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||
| Total Current Risk Management Liabilities | 351.7 | 0.3 | 6.6 | 10.5 | 7.5 | 7.6 | 3.4 | |||||||||||||||||||||||||||||||||||||
| Long-term Risk Management Liabilities | ||||||||||||||||||||||||||||||||||||||||||||
| Risk Management Contracts - Commodity | 390.7 | — | 0.8 | 2.1 | 40.2 | 0.2 | — | |||||||||||||||||||||||||||||||||||||
| Hedging Contracts - Commodity | 2.7 | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||
| Hedging Contracts - Interest Rate | 35.3 | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||
| Total Long-term Risk Management Liabilities | 428.7 | — | 0.8 | 2.1 | 40.2 | 0.2 | — | |||||||||||||||||||||||||||||||||||||
| Total Liabilities | $ | 780.4 | $ | 0.3 | $ | 7.4 | $ | 12.6 | $ | 47.7 | $ | 7.8 | $ | 3.4 | ||||||||||||||||||||||||||||||
| Total MTM Derivative Contract Net Assets (Liabilities) Recognized | $ | 258.7 | $ | (0.3) | $ | 34.8 | $ | 17.1 | $ | (47.7) | $ | 16.1 | $ | 15.7 | ||||||||||||||||||||||||||||||
| September 30, 2025 | ||||||||||||||||||||||||||||||||||||||||||||
| AEP | AEP Texas | APCo | I&M | OPCo | PSO | SWEPCo | ||||||||||||||||||||||||||||||||||||||
| Assets: | (in millions) | |||||||||||||||||||||||||||||||||||||||||||
| Current Risk Management Assets | ||||||||||||||||||||||||||||||||||||||||||||
| Gross Amounts Recognized | $ | 708.6 | $ | 0.1 | $ | 94.4 | $ | 19.6 | $ | — | $ | 68.6 | $ | 59.6 | ||||||||||||||||||||||||||||||
| Gross Amounts Offset | (300.7) | — | (2.4) | (8.7) | — | (0.5) | (1.8) | |||||||||||||||||||||||||||||||||||||
| Net Amounts Presented | 407.9 | 0.1 | 92.0 | 10.9 | — | 68.1 | 57.8 | |||||||||||||||||||||||||||||||||||||
| Long-term Risk Management Assets | ||||||||||||||||||||||||||||||||||||||||||||
| Gross Amounts Recognized | 510.1 | — | 2.5 | 1.4 | — | — | 0.2 | |||||||||||||||||||||||||||||||||||||
| Gross Amounts Offset | (245.5) | — | (0.4) | (1.4) | — | — | (0.2) | |||||||||||||||||||||||||||||||||||||
| Net Amounts Presented | 264.6 | — | 2.1 | — | — | — | — | |||||||||||||||||||||||||||||||||||||
| Total Assets | $ | 672.5 | $ | 0.1 | $ | 94.1 | $ | 10.9 | $ | — | $ | 68.1 | $ | 57.8 | ||||||||||||||||||||||||||||||
| Liabilities: | ||||||||||||||||||||||||||||||||||||||||||||
| Current Risk Management Liabilities | ||||||||||||||||||||||||||||||||||||||||||||
| Gross Amounts Recognized | $ | 403.9 | $ | — | $ | 5.0 | $ | 11.8 | $ | 6.3 | $ | 16.4 | $ | 6.2 | ||||||||||||||||||||||||||||||
| Gross Amounts Offset | (281.2) | — | (2.4) | (11.0) | — | (0.5) | (1.8) | |||||||||||||||||||||||||||||||||||||
| Net Amounts Presented | 122.7 | — | 2.6 | 0.8 | 6.3 | 15.9 | 4.4 | |||||||||||||||||||||||||||||||||||||
| Long-term Risk Management Liabilities | ||||||||||||||||||||||||||||||||||||||||||||
| Gross Amounts Recognized | 387.4 | — | 0.5 | 1.6 | 38.0 | 1.4 | 1.2 | |||||||||||||||||||||||||||||||||||||
| Gross Amounts Offset | (200.5) | — | (0.4) | (1.4) | — | — | (0.2) | |||||||||||||||||||||||||||||||||||||
| Net Amounts Presented | 186.9 | — | 0.1 | 0.2 | 38.0 | 1.4 | 1.0 | |||||||||||||||||||||||||||||||||||||
| Total Liabilities | $ | 309.6 | $ | — | $ | 2.7 | $ | 1.0 | $ | 44.3 | $ | 17.3 | $ | 5.4 | ||||||||||||||||||||||||||||||
| Total MTM Derivative Contract Net Assets (Liabilities) | $ | 362.9 | $ | 0.1 | $ | 91.4 | $ | 9.9 | $ | (44.3) | $ | 50.8 | $ | 52.4 | ||||||||||||||||||||||||||||||
| December 31, 2024 | ||||||||||||||||||||||||||||||||||||||||||||
| AEP | AEP Texas | APCo | I&M | OPCo | PSO | SWEPCo | ||||||||||||||||||||||||||||||||||||||
| Assets: | (in millions) | |||||||||||||||||||||||||||||||||||||||||||
| Current Risk Management Assets | ||||||||||||||||||||||||||||||||||||||||||||
| Gross Amounts Recognized | $ | 479.1 | $ | — | $ | 40.2 | $ | 28.5 | $ | — | $ | 22.3 | $ | 19.1 | ||||||||||||||||||||||||||||||
| Gross Amounts Offset | (268.7) | — | (4.5) | (10.1) | — | (1.7) | (1.0) | |||||||||||||||||||||||||||||||||||||
| Net Amounts Presented | 210.4 | — | 35.7 | 18.4 | — | 20.6 | 18.1 | |||||||||||||||||||||||||||||||||||||
| Long-term Risk Management Assets | ||||||||||||||||||||||||||||||||||||||||||||
| Gross Amounts Recognized | 560.0 | — | 2.0 | 1.2 | — | 1.6 | — | |||||||||||||||||||||||||||||||||||||
| Gross Amounts Offset | (270.9) | — | (0.6) | (1.2) | — | (0.2) | — | |||||||||||||||||||||||||||||||||||||
| Net Amounts Presented | 289.1 | — | 1.4 | — | — | 1.4 | — | |||||||||||||||||||||||||||||||||||||
| Total Assets | $ | 499.5 | $ | — | $ | 37.1 | $ | 18.4 | $ | — | $ | 22.0 | $ | 18.1 | ||||||||||||||||||||||||||||||
| Liabilities: | ||||||||||||||||||||||||||||||||||||||||||||
| Current Risk Management Liabilities | ||||||||||||||||||||||||||||||||||||||||||||
| Gross Amounts Recognized | $ | 351.7 | $ | 0.3 | $ | 6.6 | $ | 10.5 | $ | 7.5 | $ | 7.6 | $ | 3.4 | ||||||||||||||||||||||||||||||
| Gross Amounts Offset | (251.7) | (0.3) | (4.6) | (10.2) | (0.2) | (1.8) | (1.1) | |||||||||||||||||||||||||||||||||||||
| Net Amounts Presented | 100.0 | — | 2.0 | 0.3 | 7.3 | 5.8 | 2.3 | |||||||||||||||||||||||||||||||||||||
| Long-term Risk Management Liabilities | ||||||||||||||||||||||||||||||||||||||||||||
| Gross Amounts Recognized | 428.7 | — | 0.8 | 2.1 | 40.2 | 0.2 | — | |||||||||||||||||||||||||||||||||||||
| Gross Amounts Offset | (204.3) | — | (0.6) | (1.7) | — | (0.2) | — | |||||||||||||||||||||||||||||||||||||
| Net Amounts Presented | 224.4 | — | 0.2 | 0.4 | 40.2 | — | — | |||||||||||||||||||||||||||||||||||||
| Total Liabilities | $ | 324.4 | $ | — | $ | 2.2 | $ | 0.7 | $ | 47.5 | $ | 5.8 | $ | 2.3 | ||||||||||||||||||||||||||||||
| Total MTM Derivative Contract Net Assets (Liabilities) | $ | 175.1 | $ | — | $ | 34.9 | $ | 17.7 | $ | (47.5) | $ | 16.2 | $ | 15.8 | ||||||||||||||||||||||||||||||
| Three Months Ended September 30, 2025 | ||||||||||||||||||||||||||||||||||||||||||||
| Location of Gain (Loss) | AEP | AEP Texas | APCo | I&M | OPCo | PSO | SWEPCo | |||||||||||||||||||||||||||||||||||||
| (in millions) | ||||||||||||||||||||||||||||||||||||||||||||
| Vertically Integrated Utilities Revenues | $ | 5.9 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||||||||||||||
| Generation & Marketing Revenues | 11.1 | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||
| Electric Generation, Transmission and Distribution Revenues | — | — | — | 5.8 | — | — | — | |||||||||||||||||||||||||||||||||||||
| Purchased Electricity, Fuel and Other Consumables Used for Electric Generation | 0.8 | — | 0.8 | — | — | — | — | |||||||||||||||||||||||||||||||||||||
| Other Operation | — | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||
| Maintenance | — | — | (0.1) | — | (0.1) | — | — | |||||||||||||||||||||||||||||||||||||
| Regulatory Assets (a) | (3.9) | 0.1 | 0.2 | 1.0 | 3.7 | (11.8) | 3.1 | |||||||||||||||||||||||||||||||||||||
| Regulatory Liabilities (a) | 58.8 | — | 17.9 | 6.5 | 0.7 | 17.1 | 11.8 | |||||||||||||||||||||||||||||||||||||
| Total Gain (Loss) on Risk Management Contracts | $ | 72.7 | $ | 0.1 | $ | 18.8 | $ | 13.3 | $ | 4.3 | $ | 5.3 | $ | 14.9 | ||||||||||||||||||||||||||||||
| Three Months Ended September 30, 2024 | ||||||||||||||||||||||||||||||||||||||||||||
| Location of Gain (Loss) | AEP | AEP Texas | APCo | I&M | OPCo | PSO | SWEPCo | |||||||||||||||||||||||||||||||||||||
| (in millions) | ||||||||||||||||||||||||||||||||||||||||||||
| Vertically Integrated Utilities Revenues | $ | (1.1) | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||||||||||||||
| Generation & Marketing Revenues | (67.1) | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||
| Electric Generation, Transmission and Distribution Revenues | — | — | 0.1 | (1.2) | — | — | — | |||||||||||||||||||||||||||||||||||||
| Purchased Electricity, Fuel and Other Consumables Used for Electric Generation | 0.7 | — | 0.5 | — | — | — | — | |||||||||||||||||||||||||||||||||||||
| Other Operation | (0.3) | (0.1) | — | (0.1) | — | — | — | |||||||||||||||||||||||||||||||||||||
| Maintenance | (0.5) | (0.1) | (0.1) | (0.1) | (0.1) | — | (0.1) | |||||||||||||||||||||||||||||||||||||
| Regulatory Assets (a) | 3.1 | (0.6) | (3.9) | — | (9.2) | 11.6 | 6.5 | |||||||||||||||||||||||||||||||||||||
| Regulatory Liabilities (a) | 60.8 | — | 9.8 | 2.9 | — | 23.8 | 21.8 | |||||||||||||||||||||||||||||||||||||
| Total Gain (Loss) on Risk Management Contracts | $ | (4.4) | $ | (0.8) | $ | 6.4 | $ | 1.5 | $ | (9.3) | $ | 35.4 | $ | 28.2 | ||||||||||||||||||||||||||||||
| Nine Months Ended September 30, 2025 | ||||||||||||||||||||||||||||||||||||||||||||
| Location of Gain (Loss) | AEP | AEP Texas | APCo | I&M | OPCo | PSO | SWEPCo | |||||||||||||||||||||||||||||||||||||
| (in millions) | ||||||||||||||||||||||||||||||||||||||||||||
| Vertically Integrated Utilities Revenues | $ | (14.3) | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||||||||||||||
| Generation & Marketing Revenues | 71.3 | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||
| Electric Generation, Transmission and Distribution Revenues | — | — | 0.3 | (14.7) | — | — | — | |||||||||||||||||||||||||||||||||||||
| Purchased Electricity, Fuel and Other Consumables Used for Electric Generation | 4.6 | — | 4.6 | — | — | — | — | |||||||||||||||||||||||||||||||||||||
| Other Operation | (0.2) | (0.1) | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||
| Maintenance | (0.4) | (0.1) | (0.1) | — | (0.1) | — | (0.1) | |||||||||||||||||||||||||||||||||||||
| Regulatory Assets (a) | (8.4) | 0.3 | 0.2 | — | 3.4 | (13.6) | 1.2 | |||||||||||||||||||||||||||||||||||||
| Regulatory Liabilities (a) | 283.3 | — | 77.4 | 21.3 | 0.9 | 84.1 | 82.5 | |||||||||||||||||||||||||||||||||||||
| Total Gain on Risk Management Contracts | $ | 335.9 | $ | 0.1 | $ | 82.4 | $ | 6.6 | $ | 4.2 | $ | 70.5 | $ | 83.6 | ||||||||||||||||||||||||||||||
| Nine Months Ended September 30, 2024 | ||||||||||||||||||||||||||||||||||||||||||||
| Location of Gain (Loss) | AEP | AEP Texas | APCo | I&M | OPCo | PSO | SWEPCo | |||||||||||||||||||||||||||||||||||||
| (in millions) | ||||||||||||||||||||||||||||||||||||||||||||
| Vertically Integrated Utilities Revenues | $ | (22.5) | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||||||||||||||
| Generation & Marketing Revenues | (164.8) | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||
| Electric Generation, Transmission and Distribution Revenues | — | — | 0.2 | (22.7) | — | — | — | |||||||||||||||||||||||||||||||||||||
| Purchased Electricity, Fuel and Other Consumables Used for Electric Generation | 2.4 | — | 2.1 | 0.1 | — | — | — | |||||||||||||||||||||||||||||||||||||
| Maintenance | 0.1 | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||
| Regulatory Assets (a) | 48.3 | (0.3) | 11.2 | 3.0 | (3.7) | 19.3 | 11.6 | |||||||||||||||||||||||||||||||||||||
| Regulatory Liabilities (a) | 206.0 | — | 35.5 | 12.2 | — | 75.9 | 71.4 | |||||||||||||||||||||||||||||||||||||
| Total Gain (Loss) on Risk Management Contracts | $ | 69.5 | $ | (0.3) | $ | 49.0 | $ | (7.4) | $ | (3.7) | $ | 95.2 | $ | 83.0 | ||||||||||||||||||||||||||||||
| Carrying Amount of the Hedged Liabilities | Cumulative Amount of Fair Value Hedging Adjustment Included in the Carrying Amount of the Hedged Liabilities | |||||||||||||||||||||||||
| September 30, 2025 | December 31, 2024 | September 30, 2025 | December 31, 2024 | |||||||||||||||||||||||
| (in millions) | ||||||||||||||||||||||||||
| Long-term Debt (a) (b) | $ | (916.4) | $ | (898.6) | $ | 32.5 | $ | 49.3 | ||||||||||||||||||
| Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||||||||
| 2025 | 2024 | 2025 | 2024 | ||||||||||||||||||||
| (in millions) | |||||||||||||||||||||||
| Gain (Loss) on Interest Rate Contracts: | |||||||||||||||||||||||
| Fair Value Hedging Instruments (a) | $ | (1.1) | $ | 14.8 | $ | 22.6 | $ | 16.7 | |||||||||||||||
| Fair Value Portion of Long-term Debt (a) | 1.1 | (14.8) | (22.6) | (16.7) | |||||||||||||||||||
Impact of Cash Flow Hedges on the Registrants’ Balance Sheets | ||||||||||||||||||||||||||||||||||||||||||||||||||
| September 30, 2025 | December 31, 2024 | |||||||||||||||||||||||||||||||||||||||||||||||||
| Portion Expected to | Portion Expected to | |||||||||||||||||||||||||||||||||||||||||||||||||
| AOCI | be Reclassed to | AOCI | be Reclassed to | |||||||||||||||||||||||||||||||||||||||||||||||
| Gain (Loss) | Net Income During | Gain (Loss) | Net Income During | |||||||||||||||||||||||||||||||||||||||||||||||
| Net of Tax | the Next Twelve Months | Net of Tax | the Next Twelve Months | |||||||||||||||||||||||||||||||||||||||||||||||
| Commodity | Interest Rate | Commodity | Interest Rate | Commodity | Interest Rate | Commodity | Interest Rate | |||||||||||||||||||||||||||||||||||||||||||
| (in millions) | ||||||||||||||||||||||||||||||||||||||||||||||||||
| AEP | $ | 76.9 | $ | (0.6) | $ | 30.6 | $ | 0.1 | $ | 98.5 | $ | 3.3 | $ | 33.9 | $ | 2.8 | ||||||||||||||||||||||||||||||||||
| AEP Texas | — | 5.8 | — | 0.7 | — | 6.3 | — | 0.7 | ||||||||||||||||||||||||||||||||||||||||||
| APCo | — | 4.5 | — | 0.8 | — | 5.1 | — | 0.8 | ||||||||||||||||||||||||||||||||||||||||||
| I&M | — | (4.8) | — | (0.4) | — | (5.1) | — | (0.4) | ||||||||||||||||||||||||||||||||||||||||||
| PSO | — | 2.3 | — | 0.2 | — | 3.6 | — | 0.2 | ||||||||||||||||||||||||||||||||||||||||||
| SWEPCo | — | 0.8 | — | 0.3 | — | 1.0 | — | 0.3 | ||||||||||||||||||||||||||||||||||||||||||
| September 30, 2025 | December 31, 2024 | |||||||||||||||||||||||||
| Company | Book Value | Fair Value | Book Value | Fair Value | ||||||||||||||||||||||
| (in millions) | ||||||||||||||||||||||||||
| AEP | $ | 46,137.6 | $ | 43,486.2 | $ | 42,642.8 | $ | 38,964.7 | ||||||||||||||||||
| AEP Texas | 7,264.5 | 6,884.4 | 6,441.6 | 5,831.4 | ||||||||||||||||||||||
| AEPTCo | 6,240.4 | 5,515.5 | 5,768.1 | 4,853.1 | ||||||||||||||||||||||
| APCo | 5,758.1 | 5,647.6 | 5,660.3 | 5,346.0 | ||||||||||||||||||||||
| I&M | 3,485.1 | 3,250.1 | 3,494.3 | 3,153.8 | ||||||||||||||||||||||
| OPCo | 3,717.8 | 3,356.7 | 3,715.7 | 3,203.4 | ||||||||||||||||||||||
| PSO | 3,524.6 | 3,365.0 | 2,855.6 | 2,562.1 | ||||||||||||||||||||||
| SWEPCo | 3,972.6 | 3,626.6 | 3,980.8 | 3,431.5 | ||||||||||||||||||||||
| September 30, 2025 | ||||||||||||||||||||||||||
| Gross | Gross | |||||||||||||||||||||||||
| Unrealized | Unrealized | Fair | ||||||||||||||||||||||||
| Other Temporary Investments and Restricted Cash | Cost | Gains | Losses | Value | ||||||||||||||||||||||
| (in millions) | ||||||||||||||||||||||||||
| Restricted Cash (a) | $ | 39.1 | $ | — | $ | — | $ | 39.1 | ||||||||||||||||||
| Other Cash Deposits | 12.2 | — | — | 12.2 | ||||||||||||||||||||||
| Fixed Income Securities – Mutual Funds (b) | 173.3 | — | (2.2) | 171.1 | ||||||||||||||||||||||
| Equity Securities – Mutual Funds | 14.1 | 28.0 | — | 42.1 | ||||||||||||||||||||||
| Total Other Temporary Investments and Restricted Cash | $ | 238.7 | $ | 28.0 | $ | (2.2) | $ | 264.5 | ||||||||||||||||||
| December 31, 2024 | ||||||||||||||||||||||||||
| Gross | Gross | |||||||||||||||||||||||||
| Unrealized | Unrealized | Fair | ||||||||||||||||||||||||
| Other Temporary Investments and Restricted Cash | Cost | Gains | Losses | Value | ||||||||||||||||||||||
| (in millions) | ||||||||||||||||||||||||||
| Restricted Cash (a) | $ | 43.1 | $ | — | $ | — | $ | 43.1 | ||||||||||||||||||
| Other Cash Deposits | 13.9 | — | — | 13.9 | ||||||||||||||||||||||
| Fixed Income Securities – Mutual Funds (b) | 167.2 | — | (5.3) | 161.9 | ||||||||||||||||||||||
| Equity Securities – Mutual Funds | 12.7 | 26.9 | — | 39.6 | ||||||||||||||||||||||
| Total Other Temporary Investments and Restricted Cash | $ | 236.9 | $ | 26.9 | $ | (5.3) | $ | 258.5 | ||||||||||||||||||
| Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||||||||
| 2025 | 2024 | 2025 | 2024 | ||||||||||||||||||||
| (in millions) | |||||||||||||||||||||||
| Proceeds from Investment Sales | $ | 0.4 | $ | 4.5 | $ | 17.0 | $ | 7.5 | |||||||||||||||
| Purchases of Investments | 14.0 | 6.0 | 20.5 | 9.0 | |||||||||||||||||||
| Gross Realized Gains on Investment Sales | — | 0.4 | 4.2 | 0.7 | |||||||||||||||||||
| Gross Realized Losses on Investment Sales | — | 0.3 | 0.5 | 0.5 | |||||||||||||||||||
| September 30, 2025 | December 31, 2024 | ||||||||||||||||||||||||||||||||||||||||||||||
| Gross | Gross | Other-Than- | Gross | Gross | Other-Than- | ||||||||||||||||||||||||||||||||||||||||||
| Fair | Unrealized | Unrealized | Temporary | Fair | Unrealized | Unrealized | Temporary | ||||||||||||||||||||||||||||||||||||||||
| Value | Gains | Losses | Impairments | Value | Gains | Losses | Impairments | ||||||||||||||||||||||||||||||||||||||||
| (in millions) | |||||||||||||||||||||||||||||||||||||||||||||||
| Cash and Cash Equivalents | $ | 25.0 | $ | — | $ | — | $ | — | $ | 23.3 | $ | — | $ | — | $ | — | |||||||||||||||||||||||||||||||
| Fixed Income Securities: | |||||||||||||||||||||||||||||||||||||||||||||||
| United States Government | 1,385.1 | 23.0 | (0.3) | (15.5) | 1,322.8 | 8.2 | (5.3) | (20.2) | |||||||||||||||||||||||||||||||||||||||
| Corporate Debt | 352.9 | 6.0 | (6.8) | (7.1) | 211.3 | 0.7 | (9.8) | (5.8) | |||||||||||||||||||||||||||||||||||||||
| Subtotal Fixed Income Securities | 1,738.0 | 29.0 | (7.1) | (22.6) | 1,534.1 | 8.9 | (15.1) | (26.0) | |||||||||||||||||||||||||||||||||||||||
| Equity Securities - Domestic (a) | 3,095.9 | 2,560.0 | (0.2) | — | 2,837.7 | 2,288.9 | (0.4) | — | |||||||||||||||||||||||||||||||||||||||
| Spent Nuclear Fuel and Decommissioning Trusts | $ | 4,858.9 | $ | 2,589.0 | $ | (7.3) | $ | (22.6) | $ | 4,395.1 | $ | 2,297.8 | $ | (15.5) | $ | (26.0) | |||||||||||||||||||||||||||||||
| Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||||||||||||
| 2025 | 2024 | 2025 | 2024 | |||||||||||||||||||||||
| (in millions) | ||||||||||||||||||||||||||
| Proceeds from Investment Sales | $ | 1,037.8 | $ | 1,181.9 | $ | 2,332.2 | $ | 2,336.0 | ||||||||||||||||||
| Purchases of Investments | 1,056.5 | 1,201.9 | 2,386.5 | 2,389.0 | ||||||||||||||||||||||
| Gross Realized Gains on Investment Sales | 112.5 | 108.4 | 116.8 | 118.7 | ||||||||||||||||||||||
| Gross Realized Losses on Investment Sales | 1.5 | 0.7 | 4.0 | 6.1 | ||||||||||||||||||||||
| Fair Value of Fixed | |||||
| Income Securities | |||||
| (in millions) | |||||
| Within 1 year | $ | 366.1 | |||
| After 1 year through 5 years | 736.7 | ||||
| After 5 years through 10 years | 209.0 | ||||
| After 10 years | 426.2 | ||||
| Total | $ | 1,738.0 | |||
| Level 1 | Level 2 | Level 3 | Other | Total | ||||||||||||||||||||||||||||
| Assets: | (in millions) | |||||||||||||||||||||||||||||||
| Other Temporary Investments and Restricted Cash | ||||||||||||||||||||||||||||||||
| Restricted Cash | $ | 25.9 | $ | — | $ | — | $ | 13.2 | $ | 39.1 | ||||||||||||||||||||||
| Other Cash Deposits (a) | — | — | — | 12.2 | 12.2 | |||||||||||||||||||||||||||
| Fixed Income Securities – Mutual Funds | 171.1 | — | — | — | 171.1 | |||||||||||||||||||||||||||
| Equity Securities – Mutual Funds (b) | 42.1 | — | — | — | 42.1 | |||||||||||||||||||||||||||
| Total Other Temporary Investments and Restricted Cash | 239.1 | — | — | 25.4 | 264.5 | |||||||||||||||||||||||||||
| Risk Management Assets | ||||||||||||||||||||||||||||||||
| Risk Management Commodity Contracts (c) (d) | 3.6 | 623.0 | 458.7 | (517.0) | 568.3 | |||||||||||||||||||||||||||
| Cash Flow Hedges: | ||||||||||||||||||||||||||||||||
| Commodity Hedges (c) | — | 101.0 | 18.0 | (14.8) | 104.2 | |||||||||||||||||||||||||||
| Total Risk Management Assets | 3.6 | 724.0 | 476.7 | (531.8) | 672.5 | |||||||||||||||||||||||||||
| Spent Nuclear Fuel and Decommissioning Trusts | ||||||||||||||||||||||||||||||||
| Cash and Cash Equivalents (e) | 10.7 | — | — | 14.3 | 25.0 | |||||||||||||||||||||||||||
| Fixed Income Securities: | ||||||||||||||||||||||||||||||||
| United States Government | — | 1,385.1 | — | — | 1,385.1 | |||||||||||||||||||||||||||
| Corporate Debt | — | 352.9 | — | — | 352.9 | |||||||||||||||||||||||||||
| Subtotal Fixed Income Securities | — | 1,738.0 | — | — | 1,738.0 | |||||||||||||||||||||||||||
| Equity Securities – Domestic (b) | 3,095.9 | — | — | — | 3,095.9 | |||||||||||||||||||||||||||
| Total Spent Nuclear Fuel and Decommissioning Trusts | 3,106.6 | 1,738.0 | — | 14.3 | 4,858.9 | |||||||||||||||||||||||||||
| Total Assets | $ | 3,349.3 | $ | 2,462.0 | $ | 476.7 | $ | (492.1) | $ | 5,795.9 | ||||||||||||||||||||||
| Liabilities: | ||||||||||||||||||||||||||||||||
| Risk Management Liabilities | ||||||||||||||||||||||||||||||||
| Risk Management Commodity Contracts (c) (d) | $ | 5.3 | $ | 552.4 | $ | 148.6 | $ | (452.5) | $ | 253.8 | ||||||||||||||||||||||
| Cash Flow Hedges: | ||||||||||||||||||||||||||||||||
| Commodity Hedges (c) | — | 20.7 | 1.0 | (14.8) | 6.9 | |||||||||||||||||||||||||||
| Fair Value Hedges | — | 48.9 | — | — | 48.9 | |||||||||||||||||||||||||||
| Total Risk Management Liabilities | $ | 5.3 | $ | 622.0 | $ | 149.6 | $ | (467.3) | $ | 309.6 | ||||||||||||||||||||||
| Level 1 | Level 2 | Level 3 | Other | Total | ||||||||||||||||||||||||||||
| Assets: | (in millions) | |||||||||||||||||||||||||||||||
| Other Temporary Investments and Restricted Cash | ||||||||||||||||||||||||||||||||
| Restricted Cash | $ | 43.1 | $ | — | $ | — | $ | — | $ | 43.1 | ||||||||||||||||||||||
| Other Cash Deposits (a) | — | — | — | 13.9 | 13.9 | |||||||||||||||||||||||||||
| Fixed Income Securities – Mutual Funds | 161.9 | — | — | — | 161.9 | |||||||||||||||||||||||||||
| Equity Securities – Mutual Funds (b) | 39.6 | — | — | — | 39.6 | |||||||||||||||||||||||||||
| Total Other Temporary Investments and Restricted Cash | 244.6 | — | — | 13.9 | 258.5 | |||||||||||||||||||||||||||
| Risk Management Assets | ||||||||||||||||||||||||||||||||
| Risk Management Commodity Contracts (c) (f) | 2.9 | 597.3 | 291.6 | (517.2) | 374.6 | |||||||||||||||||||||||||||
| Cash Flow Hedges: | ||||||||||||||||||||||||||||||||
| Commodity Hedges (c) | — | 115.6 | 21.9 | (12.6) | 124.9 | |||||||||||||||||||||||||||
| Total Risk Management Assets | 2.9 | 712.9 | 313.5 | (529.8) | 499.5 | |||||||||||||||||||||||||||
| Spent Nuclear Fuel and Decommissioning Trusts | ||||||||||||||||||||||||||||||||
| Cash and Cash Equivalents (e) | 9.6 | — | — | 13.7 | 23.3 | |||||||||||||||||||||||||||
| Fixed Income Securities: | ||||||||||||||||||||||||||||||||
| United States Government | — | 1,322.8 | — | — | 1,322.8 | |||||||||||||||||||||||||||
| Corporate Debt | — | 211.3 | — | — | 211.3 | |||||||||||||||||||||||||||
| Subtotal Fixed Income Securities | — | 1,534.1 | — | — | 1,534.1 | |||||||||||||||||||||||||||
| Equity Securities – Domestic (b) | 2,837.7 | — | — | — | 2,837.7 | |||||||||||||||||||||||||||
| Total Spent Nuclear Fuel and Decommissioning Trusts | 2,847.3 | 1,534.1 | — | 13.7 | 4,395.1 | |||||||||||||||||||||||||||
| Total Assets | $ | 3,094.8 | $ | 2,247.0 | $ | 313.5 | $ | (502.2) | $ | 5,153.1 | ||||||||||||||||||||||
| Liabilities: | ||||||||||||||||||||||||||||||||
| Risk Management Liabilities | ||||||||||||||||||||||||||||||||
| Risk Management Commodity Contracts (c) (f) | $ | 4.4 | $ | 534.1 | $ | 147.7 | $ | (433.6) | $ | 252.6 | ||||||||||||||||||||||
| Cash Flow Hedges: | ||||||||||||||||||||||||||||||||
| Commodity Hedges (c) | — | 12.6 | 0.2 | (12.6) | 0.2 | |||||||||||||||||||||||||||
| Fair Value Hedges | — | 71.6 | — | — | 71.6 | |||||||||||||||||||||||||||
| Total Risk Management Liabilities | $ | 4.4 | $ | 618.3 | $ | 147.9 | $ | (446.2) | $ | 324.4 | ||||||||||||||||||||||
| Level 1 | Level 2 | Level 3 | Other | Total | ||||||||||||||||||||||||||||
| Assets: | (in millions) | |||||||||||||||||||||||||||||||
| Restricted Cash for Securitized Funding | $ | 7.3 | $ | — | $ | — | $ | — | $ | 7.3 | ||||||||||||||||||||||
| Risk Management Assets | ||||||||||||||||||||||||||||||||
| Risk Management Commodity Contracts (c) | — | 0.1 | — | — | 0.1 | |||||||||||||||||||||||||||
| Total Assets | $ | 7.3 | $ | 0.1 | $ | — | $ | — | $ | 7.4 | ||||||||||||||||||||||
| Level 1 | Level 2 | Level 3 | Other | Total | ||||||||||||||||||||||||||||
| Assets: | (in millions) | |||||||||||||||||||||||||||||||
| Restricted Cash for Securitized Funding | $ | 23.5 | $ | — | $ | — | $ | — | $ | 23.5 | ||||||||||||||||||||||
| Liabilities: | ||||||||||||||||||||||||||||||||
| Risk Management Liabilities | ||||||||||||||||||||||||||||||||
| Risk Management Commodity Contracts (c) | $ | — | $ | 0.3 | $ | — | $ | (0.3) | $ | — | ||||||||||||||||||||||
| Level 1 | Level 2 | Level 3 | Other | Total | ||||||||||||||||||||||||||||
| Assets: | (in millions) | |||||||||||||||||||||||||||||||
| Restricted Cash for Securitized Funding | $ | 10.8 | $ | — | $ | — | $ | — | $ | 10.8 | ||||||||||||||||||||||
| Risk Management Assets | ||||||||||||||||||||||||||||||||
| Risk Management Commodity Contracts (c) | — | 5.3 | 91.4 | (2.6) | 94.1 | |||||||||||||||||||||||||||
| Total Assets | $ | 10.8 | $ | 5.3 | $ | 91.4 | $ | (2.6) | $ | 104.9 | ||||||||||||||||||||||
| Liabilities: | ||||||||||||||||||||||||||||||||
| Risk Management Liabilities | ||||||||||||||||||||||||||||||||
| Risk Management Commodity Contracts (c) | $ | — | $ | 5.2 | $ | 0.1 | $ | (2.6) | $ | 2.7 | ||||||||||||||||||||||
| Level 1 | Level 2 | Level 3 | Other | Total | ||||||||||||||||||||||||||||
| Assets: | (in millions) | |||||||||||||||||||||||||||||||
| Restricted Cash for Securitized Funding | $ | 16.2 | $ | — | $ | — | $ | — | $ | 16.2 | ||||||||||||||||||||||
| Risk Management Assets | ||||||||||||||||||||||||||||||||
| Risk Management Commodity Contracts (c) | — | 6.5 | 35.2 | (4.6) | 37.1 | |||||||||||||||||||||||||||
| Total Assets | $ | 16.2 | $ | 6.5 | $ | 35.2 | $ | (4.6) | $ | 53.3 | ||||||||||||||||||||||
| Liabilities: | ||||||||||||||||||||||||||||||||
| Risk Management Liabilities | ||||||||||||||||||||||||||||||||
| Risk Management Commodity Contracts (c) | $ | — | $ | 6.9 | $ | — | $ | (4.7) | $ | 2.2 | ||||||||||||||||||||||
| Level 1 | Level 2 | Level 3 | Other | Total | ||||||||||||||||||||||||||||
| Assets: | (in millions) | |||||||||||||||||||||||||||||||
| Risk Management Assets | ||||||||||||||||||||||||||||||||
| Risk Management Commodity Contracts (c) | $ | — | $ | 8.5 | $ | 11.3 | $ | (8.9) | $ | 10.9 | ||||||||||||||||||||||
| Spent Nuclear Fuel and Decommissioning Trusts | ||||||||||||||||||||||||||||||||
| Cash and Cash Equivalents (e) | 10.7 | — | — | 14.3 | 25.0 | |||||||||||||||||||||||||||
| Fixed Income Securities: | ||||||||||||||||||||||||||||||||
| United States Government | — | 1,385.1 | — | — | 1,385.1 | |||||||||||||||||||||||||||
| Corporate Debt | — | 352.9 | — | — | 352.9 | |||||||||||||||||||||||||||
| Subtotal Fixed Income Securities | — | 1,738.0 | — | — | 1,738.0 | |||||||||||||||||||||||||||
| Equity Securities - Domestic (b) | 3,095.9 | — | — | — | 3,095.9 | |||||||||||||||||||||||||||
| Total Spent Nuclear Fuel and Decommissioning Trusts | 3,106.6 | 1,738.0 | — | 14.3 | 4,858.9 | |||||||||||||||||||||||||||
| Total Assets | $ | 3,106.6 | $ | 1,746.5 | $ | 11.3 | $ | 5.4 | $ | 4,869.8 | ||||||||||||||||||||||
| Liabilities: | ||||||||||||||||||||||||||||||||
| Risk Management Liabilities | ||||||||||||||||||||||||||||||||
| Risk Management Commodity Contracts (c) | $ | — | $ | 11.8 | $ | 0.4 | $ | (11.2) | $ | 1.0 | ||||||||||||||||||||||
| Level 1 | Level 2 | Level 3 | Other | Total | ||||||||||||||||||||||||||||
| Assets: | (in millions) | |||||||||||||||||||||||||||||||
| Risk Management Assets | ||||||||||||||||||||||||||||||||
| Risk Management Commodity Contracts (c) | $ | — | $ | 19.9 | $ | 6.9 | $ | (8.4) | $ | 18.4 | ||||||||||||||||||||||
| Spent Nuclear Fuel and Decommissioning Trusts | ||||||||||||||||||||||||||||||||
| Cash and Cash Equivalents (e) | 9.6 | — | — | 13.7 | 23.3 | |||||||||||||||||||||||||||
| Fixed Income Securities: | ||||||||||||||||||||||||||||||||
| United States Government | — | 1,322.8 | — | — | 1,322.8 | |||||||||||||||||||||||||||
| Corporate Debt | — | 211.3 | — | — | 211.3 | |||||||||||||||||||||||||||
| Subtotal Fixed Income Securities | — | 1,534.1 | — | — | 1,534.1 | |||||||||||||||||||||||||||
| Equity Securities - Domestic (b) | 2,837.7 | — | — | — | 2,837.7 | |||||||||||||||||||||||||||
| Total Spent Nuclear Fuel and Decommissioning Trusts | 2,847.3 | 1,534.1 | — | 13.7 | 4,395.1 | |||||||||||||||||||||||||||
| Total Assets | $ | 2,847.3 | $ | 1,554.0 | $ | 6.9 | $ | 5.3 | $ | 4,413.5 | ||||||||||||||||||||||
| Liabilities: | ||||||||||||||||||||||||||||||||
| Risk Management Liabilities | ||||||||||||||||||||||||||||||||
| Risk Management Commodity Contracts (c) | $ | — | $ | 9.2 | $ | 0.5 | $ | (9.0) | $ | 0.7 | ||||||||||||||||||||||
| Level 1 | Level 2 | Level 3 | Other | Total | ||||||||||||||||||||||||||||
| Liabilities: | (in millions) | |||||||||||||||||||||||||||||||
| Risk Management Liabilities | ||||||||||||||||||||||||||||||||
| Risk Management Commodity Contracts (c) | $ | — | $ | — | $ | 44.3 | $ | — | $ | 44.3 | ||||||||||||||||||||||
| Level 1 | Level 2 | Level 3 | Other | Total | ||||||||||||||||||||||||||||
| Liabilities: | (in millions) | |||||||||||||||||||||||||||||||
| Risk Management Liabilities | ||||||||||||||||||||||||||||||||
| Risk Management Commodity Contracts (c) | $ | — | $ | 0.2 | $ | 47.5 | $ | (0.2) | $ | 47.5 | ||||||||||||||||||||||
| Level 1 | Level 2 | Level 3 | Other | Total | ||||||||||||||||||||||||||||
| Assets: | (in millions) | |||||||||||||||||||||||||||||||
| Risk Management Assets | ||||||||||||||||||||||||||||||||
| Risk Management Commodity Contracts (c) | $ | — | $ | 0.3 | $ | 68.3 | $ | (0.5) | $ | 68.1 | ||||||||||||||||||||||
| Liabilities: | ||||||||||||||||||||||||||||||||
| Risk Management Liabilities | ||||||||||||||||||||||||||||||||
| Risk Management Commodity Contracts (c) | $ | — | $ | 14.8 | $ | 3.0 | $ | (0.5) | $ | 17.3 | ||||||||||||||||||||||
| Level 1 | Level 2 | Level 3 | Other | Total | ||||||||||||||||||||||||||||
| Assets: | (in millions) | |||||||||||||||||||||||||||||||
| Risk Management Assets | ||||||||||||||||||||||||||||||||
| Risk Management Commodity Contracts (c) | $ | — | $ | 3.1 | $ | 20.8 | $ | (1.9) | $ | 22.0 | ||||||||||||||||||||||
| Liabilities: | ||||||||||||||||||||||||||||||||
| Risk Management Liabilities | ||||||||||||||||||||||||||||||||
| Risk Management Commodity Contracts (c) | $ | — | $ | 7.0 | $ | 0.8 | $ | (2.0) | $ | 5.8 | ||||||||||||||||||||||
| Level 1 | Level 2 | Level 3 | Other | Total | ||||||||||||||||||||||||||||
| Assets: | (in millions) | |||||||||||||||||||||||||||||||
| Restricted Cash for Securitized Funding | $ | 7.8 | $ | — | $ | — | $ | — | $ | 7.8 | ||||||||||||||||||||||
| Risk Management Assets | ||||||||||||||||||||||||||||||||
| Risk Management Commodity Contracts (c) | — | 0.3 | 59.4 | (1.9) | 57.8 | |||||||||||||||||||||||||||
| Total Assets | $ | 7.8 | $ | 0.3 | $ | 59.4 | $ | (1.9) | $ | 65.6 | ||||||||||||||||||||||
| Liabilities: | ||||||||||||||||||||||||||||||||
| Risk Management Liabilities | ||||||||||||||||||||||||||||||||
| Risk Management Commodity Contracts (c) | $ | — | $ | 4.5 | $ | 2.8 | $ | (1.9) | $ | 5.4 | ||||||||||||||||||||||
| Level 1 | Level 2 | Level 3 | Other | Total | ||||||||||||||||||||||||||||
| Assets: | (in millions) | |||||||||||||||||||||||||||||||
| Restricted Cash for Securitized Funding | $ | 3.4 | $ | — | $ | — | $ | — | $ | 3.4 | ||||||||||||||||||||||
| Risk Management Assets | ||||||||||||||||||||||||||||||||
| Risk Management Commodity Contracts (c) | — | 1.0 | 18.1 | (1.0) | 18.1 | |||||||||||||||||||||||||||
| Total Assets | $ | 3.4 | $ | 1.0 | $ | 18.1 | $ | (1.0) | $ | 21.5 | ||||||||||||||||||||||
| Liabilities: | ||||||||||||||||||||||||||||||||
| Risk Management Liabilities | ||||||||||||||||||||||||||||||||
| Risk Management Commodity Contracts (c) | $ | — | $ | 2.8 | $ | 0.6 | $ | (1.1) | $ | 2.3 | ||||||||||||||||||||||
| Three Months Ended September 30, 2025 | AEP | APCo | I&M | OPCo | PSO | SWEPCo | ||||||||||||||||||||||||||||||||
| (in millions) | ||||||||||||||||||||||||||||||||||||||
| Balance as of June 30, 2025 | $ | 382.8 | $ | 108.3 | $ | 12.3 | $ | (47.7) | $ | 96.9 | $ | 69.1 | ||||||||||||||||||||||||||
Realized Gain (Loss) Included in Net Income (or Changes in Net Assets) (a) (b) | 44.7 | 15.6 | 3.6 | (0.1) | 14.1 | 9.6 | ||||||||||||||||||||||||||||||||
Unrealized Gain (Loss) Included in Net Income (or Changes in Net Assets) Relating to Assets Still Held at the Reporting Date (a) | 13.2 | — | — | — | — | — | ||||||||||||||||||||||||||||||||
Realized and Unrealized Gains (Losses) Included in Other Comprehensive Income (c) | 1.5 | — | — | — | — | — | ||||||||||||||||||||||||||||||||
| Settlements | (131.6) | (34.4) | (7.1) | 1.0 | (45.2) | (29.9) | ||||||||||||||||||||||||||||||||
| Transfers into Level 3 (d) (e) | 7.1 | — | — | — | — | — | ||||||||||||||||||||||||||||||||
| Transfers out of Level 3 (e) | (5.2) | — | — | — | — | — | ||||||||||||||||||||||||||||||||
Changes in Fair Value Allocated to Regulated Jurisdictions (f) | 14.6 | 1.8 | 2.1 | 2.5 | (0.5) | 7.8 | ||||||||||||||||||||||||||||||||
| Balance as of September 30, 2025 | $ | 327.1 | $ | 91.3 | $ | 10.9 | $ | (44.3) | $ | 65.3 | $ | 56.6 | ||||||||||||||||||||||||||
| Three Months Ended September 30, 2024 | AEP | APCo | I&M | OPCo | PSO | SWEPCo | ||||||||||||||||||||||||||||||||
| (in millions) | ||||||||||||||||||||||||||||||||||||||
| Balance as of June 30, 2024 | $ | 288.2 | $ | 67.8 | $ | 14.5 | $ | (43.2) | $ | 49.4 | $ | 38.1 | ||||||||||||||||||||||||||
Realized Gain (Loss) Included in Net Income (or Changes in Net Assets) (a) (b) | 60.4 | 13.4 | 2.9 | (0.1) | 23.2 | 21.2 | ||||||||||||||||||||||||||||||||
Unrealized Gain (Loss) Included in Net Income (or Changes in Net Assets) Relating to Assets Still Held at the Reporting Date (a) | (6.9) | — | — | — | — | — | ||||||||||||||||||||||||||||||||
Realized and Unrealized Gains (Losses) Included in Other Comprehensive Income (c) | (0.1) | — | — | — | — | — | ||||||||||||||||||||||||||||||||
| Settlements | (133.1) | (26.9) | (7.9) | 1.0 | (46.3) | (37.7) | ||||||||||||||||||||||||||||||||
| Transfers into Level 3 (d) (e) | (0.3) | — | — | — | — | — | ||||||||||||||||||||||||||||||||
| Transfers out of Level 3 (e) | (0.6) | — | — | — | — | — | ||||||||||||||||||||||||||||||||
Changes in Fair Value Allocated to Regulated Jurisdictions (f) | (14.5) | (7.1) | (0.2) | (9.3) | 2.1 | 2.1 | ||||||||||||||||||||||||||||||||
| Balance as of September 30, 2024 | $ | 193.1 | $ | 47.2 | $ | 9.3 | $ | (51.6) | $ | 28.4 | $ | 23.7 | ||||||||||||||||||||||||||
| Nine Months Ended September 30, 2025 | AEP | APCo | I&M | OPCo | PSO | SWEPCo | ||||||||||||||||||||||||||||||||
| (in millions) | ||||||||||||||||||||||||||||||||||||||
| Balance as of December 31, 2024 | $ | 165.6 | $ | 35.2 | $ | 6.4 | $ | (47.5) | $ | 20.0 | $ | 17.5 | ||||||||||||||||||||||||||
Realized Gain (Loss) Included in Net Income (or Changes in Net Assets) (a) (b) | 155.3 | 49.4 | 12.9 | — | 37.9 | 42.2 | ||||||||||||||||||||||||||||||||
Unrealized Gain (Loss) Included in Net Income (or Changes in Net Assets) Relating to Assets Still Held at the Reporting Date (a) | 31.1 | — | — | — | — | — | ||||||||||||||||||||||||||||||||
| Realized and Unrealized Gains (Losses) Included in Other Comprehensive Income (c) | 14.0 | — | — | — | — | — | ||||||||||||||||||||||||||||||||
| Settlements | (276.9) | (84.6) | (19.2) | 5.3 | (57.9) | (59.7) | ||||||||||||||||||||||||||||||||
| Transfers into Level 3 (d) (e) | 1.0 | — | — | — | — | — | ||||||||||||||||||||||||||||||||
| Transfers out of Level 3 (e) | (3.0) | — | — | — | — | — | ||||||||||||||||||||||||||||||||
Changes in Fair Value Allocated to Regulated Jurisdictions (f) | 240.0 | 91.3 | 10.8 | (2.1) | 65.3 | 56.6 | ||||||||||||||||||||||||||||||||
| Balance as of September 30, 2025 | $ | 327.1 | $ | 91.3 | $ | 10.9 | $ | (44.3) | $ | 65.3 | $ | 56.6 | ||||||||||||||||||||||||||
| Nine Months Ended September 30, 2024 | AEP | APCo | I&M | OPCo | PSO | SWEPCo | ||||||||||||||||||||||||||||||||
| (in millions) | ||||||||||||||||||||||||||||||||||||||
| Balance as of December 31, 2023 | $ | 139.4 | $ | 22.4 | $ | 2.8 | $ | (50.6) | $ | 18.6 | $ | 11.1 | ||||||||||||||||||||||||||
Realized Gain (Loss) Included in Net Income (or Changes in Net Assets) (a) (b) | 90.6 | 24.1 | 7.3 | (0.9) | 26.2 | 23.6 | ||||||||||||||||||||||||||||||||
Unrealized Gain (Loss) Included in Net Income (or Changes in Net Assets) Relating to Assets Still Held at the Reporting Date (a) | 2.3 | — | — | — | — | — | ||||||||||||||||||||||||||||||||
Realized and Unrealized Gains (Losses) Included in Other Comprehensive Income (c) | 1.5 | — | — | — | — | — | ||||||||||||||||||||||||||||||||
| Settlements | (164.7) | (46.5) | (10.0) | 6.0 | (44.8) | (36.0) | ||||||||||||||||||||||||||||||||
| Transfers into Level 3 (d) (e) | 6.8 | — | — | — | — | — | ||||||||||||||||||||||||||||||||
| Transfers out of Level 3 (e) | 2.2 | — | — | — | — | 0.5 | ||||||||||||||||||||||||||||||||
Changes in Fair Value Allocated to Regulated Jurisdictions (f) | 115.0 | 47.2 | 9.2 | (6.1) | 28.4 | 24.5 | ||||||||||||||||||||||||||||||||
| Balance as of September 30, 2024 | $ | 193.1 | $ | 47.2 | $ | 9.3 | $ | (51.6) | $ | 28.4 | $ | 23.7 | ||||||||||||||||||||||||||
| Significant | Input/Range | |||||||||||||||||||||||||||||||||||||||||||||||||
| Type of | Fair Value | Valuation | Unobservable | Weighted | ||||||||||||||||||||||||||||||||||||||||||||||
| Company | Input | Assets | Liabilities | Technique | Input (a) | Low | High | Average (b) | ||||||||||||||||||||||||||||||||||||||||||
| (in millions) | ||||||||||||||||||||||||||||||||||||||||||||||||||
| AEP | Energy Contracts | $ | 225.7 | $ | 141.2 | Discounted Cash Flow | Forward Market Price | $ | 2.24 | $ | 144.31 | $ | 49.61 | |||||||||||||||||||||||||||||||||||||
| AEP | FTRs | 251.0 | 8.4 | Discounted Cash Flow | Forward Market Price | (33.94) | 45.81 | (0.06) | ||||||||||||||||||||||||||||||||||||||||||
| APCo | FTRs | 91.4 | 0.1 | Discounted Cash Flow | Forward Market Price | (1.01) | 12.36 | 2.44 | ||||||||||||||||||||||||||||||||||||||||||
| I&M | FTRs | 11.3 | 0.4 | Discounted Cash Flow | Forward Market Price | (0.16) | 14.70 | 1.28 | ||||||||||||||||||||||||||||||||||||||||||
| OPCo | Energy Contracts | — | 44.3 | Discounted Cash Flow | Forward Market Price | 13.67 | 78.67 | 43.36 | ||||||||||||||||||||||||||||||||||||||||||
| PSO | FTRs | 68.3 | 3.0 | Discounted Cash Flow | Forward Market Price | (33.94) | 9.23 | (6.03) | ||||||||||||||||||||||||||||||||||||||||||
| SWEPCo | FTRs | 59.4 | 2.8 | Discounted Cash Flow | Forward Market Price | (33.94) | 9.23 | (6.03) | ||||||||||||||||||||||||||||||||||||||||||
| Significant | Input/Range | |||||||||||||||||||||||||||||||||||||||||||||||||
| Type of | Fair Value | Valuation | Unobservable | Weighted | ||||||||||||||||||||||||||||||||||||||||||||||
| Company | Input | Assets | Liabilities | Technique | Input (a) | Low | High | Average (b) | ||||||||||||||||||||||||||||||||||||||||||
| (in millions) | ||||||||||||||||||||||||||||||||||||||||||||||||||
| AEP | Energy Contracts | $ | 221.2 | $ | 144.6 | Discounted Cash Flow | Forward Market Price | $ | 2.75 | $ | 149.30 | $ | 49.34 | |||||||||||||||||||||||||||||||||||||
| AEP | FTRs | 92.3 | 3.3 | Discounted Cash Flow | Forward Market Price | (29.48) | 19.70 | 0.24 | ||||||||||||||||||||||||||||||||||||||||||
| APCo | FTRs | 35.2 | — | Discounted Cash Flow | Forward Market Price | (0.25) | 9.32 | 1.56 | ||||||||||||||||||||||||||||||||||||||||||
| I&M | FTRs | 6.9 | 0.5 | Discounted Cash Flow | Forward Market Price | (4.07) | 9.32 | 1.34 | ||||||||||||||||||||||||||||||||||||||||||
| OPCo | Energy Contracts | — | 47.5 | Discounted Cash Flow | Forward Market Price | 14.53 | 72.40 | 42.44 | ||||||||||||||||||||||||||||||||||||||||||
| PSO | FTRs | 20.8 | 0.8 | Discounted Cash Flow | Forward Market Price | (29.48) | 10.54 | (3.88) | ||||||||||||||||||||||||||||||||||||||||||
| SWEPCo | FTRs | 18.1 | 0.6 | Discounted Cash Flow | Forward Market Price | (29.48) | 10.54 | (3.88) | ||||||||||||||||||||||||||||||||||||||||||
| Significant Unobservable Input | Position | Change in Input | Impact on Fair Value Measurement | |||||||||||||||||
| Forward Market Price | Buy | Increase (Decrease) | Higher (Lower) | |||||||||||||||||
| Forward Market Price | Sell | Increase (Decrease) | Lower (Higher) | |||||||||||||||||
| Three Months Ended September 30, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||
| AEP | AEP Texas | AEPTCo | APCo | I&M | OPCo | PSO | SWEPCo | |||||||||||||||||||||||||||||||||||||||||||
| U.S. Federal Statutory Rate | 21.0 | % | 21.0 | % | 21.0 | % | 21.0 | % | 21.0 | % | 21.0 | % | 21.0 | % | 21.0 | % | ||||||||||||||||||||||||||||||||||
| Increase (decrease) due to: | ||||||||||||||||||||||||||||||||||||||||||||||||||
| State and Local Income Taxes, Net | 1.2 | % | 0.6 | % | 2.5 | % | (1.2) | % | 2.8 | % | 1.0 | % | 3.0 | % | (3.9) | % | ||||||||||||||||||||||||||||||||||
Tax Reform Excess ADIT Reversal | (2.5) | % | (2.3) | % | 0.2 | % | (3.5) | % | (5.5) | % | (2.7) | % | (4.8) | % | (3.2) | % | ||||||||||||||||||||||||||||||||||
| Production and Investment Tax Credits | (7.9) | % | (0.1) | % | — | % | 0.1 | % | (26.6) | % | — | % | (50.6) | % | (27.5) | % | ||||||||||||||||||||||||||||||||||
| Reversal of Origination Flow-Through | 1.3 | % | 0.1 | % | 0.3 | % | 6.7 | % | 2.2 | % | 0.6 | % | 0.2 | % | 0.7 | % | ||||||||||||||||||||||||||||||||||
| AFUDC Equity | (1.6) | % | (1.8) | % | (2.5) | % | (0.5) | % | (1.1) | % | (1.8) | % | (1.2) | % | (1.1) | % | ||||||||||||||||||||||||||||||||||
| Flow-Through of CAMT | 0.6 | % | — | % | — | % | 6.2 | % | — | % | — | % | — | % | — | % | ||||||||||||||||||||||||||||||||||
Other | 0.1 | % | 0.1 | % | — | % | (0.7) | % | (0.8) | % | (0.3) | % | 0.1 | % | — | % | ||||||||||||||||||||||||||||||||||
| Effective Income Tax Rate | 12.2 | % | 17.6 | % | 21.5 | % | 28.1 | % | (8.0) | % | 17.8 | % | (32.3) | % | (14.0) | % | ||||||||||||||||||||||||||||||||||
| Three Months Ended September 30, 2024 | ||||||||||||||||||||||||||||||||||||||||||||||||||
| AEP | AEP Texas | AEPTCo | APCo | I&M | OPCo | PSO | SWEPCo | |||||||||||||||||||||||||||||||||||||||||||
| U.S. Federal Statutory Rate | 21.0 | % | 21.0 | % | 21.0 | % | 21.0 | % | 21.0 | % | 21.0 | % | 21.0 | % | 21.0 | % | ||||||||||||||||||||||||||||||||||
| Increase (decrease) due to: | ||||||||||||||||||||||||||||||||||||||||||||||||||
| State and Local Income Taxes, Net | 0.6 | % | 0.3 | % | 2.5 | % | 1.4 | % | 0.7 | % | 1.1 | % | — | % | (2.6) | % | ||||||||||||||||||||||||||||||||||
| Tax Reform Excess ADIT Reversal | (2.8) | % | (1.0) | % | 0.2 | % | (2.3) | % | (7.9) | % | (7.3) | % | (5.0) | % | (3.2) | % | ||||||||||||||||||||||||||||||||||
| Production and Investment Tax Credits | (9.9) | % | — | % | — | % | (0.1) | % | (45.6) | % | — | % | (61.9) | % | (23.4) | % | ||||||||||||||||||||||||||||||||||
| Reversal of Origination Flow-Through | 0.1 | % | 0.1 | % | 0.3 | % | (1.1) | % | 0.3 | % | 0.7 | % | 0.3 | % | 0.6 | % | ||||||||||||||||||||||||||||||||||
| AFUDC Equity | (1.5) | % | (2.3) | % | (1.9) | % | (1.5) | % | (1.2) | % | (1.2) | % | (1.3) | % | (0.5) | % | ||||||||||||||||||||||||||||||||||
| Discrete Tax Adjustments | (3.7) | % | — | % | — | % | — | % | — | % | — | % | — | % | — | % | ||||||||||||||||||||||||||||||||||
Other | — | % | 0.2 | % | (0.2) | % | (0.4) | % | — | % | 0.6 | % | 1.5 | % | — | % | ||||||||||||||||||||||||||||||||||
| Effective Income Tax Rate | 3.8 | % | 18.3 | % | 21.9 | % | 17.0 | % | (32.7) | % | 14.9 | % | (45.4) | % | (8.1) | % | ||||||||||||||||||||||||||||||||||
| Nine Months Ended September 30, 2024 | ||||||||||||||||||||||||||||||||||||||||||||||||||
| AEP | AEP Texas | AEPTCo | APCo | I&M | OPCo | PSO | SWEPCo | |||||||||||||||||||||||||||||||||||||||||||
| U.S. Federal Statutory Rate | 21.0 | % | 21.0 | % | 21.0 | % | 21.0 | % | 21.0 | % | 21.0 | % | 21.0 | % | 21.0 | % | ||||||||||||||||||||||||||||||||||
| Increase (decrease) due to: | ||||||||||||||||||||||||||||||||||||||||||||||||||
| State and Local Income Taxes, Net | 1.2 | % | 0.4 | % | 2.5 | % | 2.1 | % | 1.5 | % | 0.9 | % | — | % | (2.6) | % | ||||||||||||||||||||||||||||||||||
| Tax Reform Excess ADIT Reversal | (3.1) | % | (1.1) | % | 0.2 | % | (7.1) | % | (5.7) | % | (8.7) | % | (4.3) | % | (4.2) | % | ||||||||||||||||||||||||||||||||||
| Remeasurement of Excess ADIT | (11.9) | % | 1.5 | % | — | % | — | % | (27.5) | % | — | % | (40.5) | % | (181.8) | % | ||||||||||||||||||||||||||||||||||
| Production and Investment Tax Credits | (8.3) | % | (0.1) | % | — | % | (0.1) | % | (23.4) | % | — | % | (61.7) | % | (79.1) | % | ||||||||||||||||||||||||||||||||||
| Reversal of Origination Flow-Through | 0.2 | % | 0.1 | % | 0.3 | % | (0.8) | % | 0.3 | % | 0.8 | % | 0.3 | % | 2.1 | % | ||||||||||||||||||||||||||||||||||
| AFUDC Equity | (1.6) | % | (1.7) | % | (2.0) | % | (1.1) | % | (1.1) | % | (1.3) | % | (1.3) | % | (2.3) | % | ||||||||||||||||||||||||||||||||||
| Discrete Tax Adjustments | (2.1) | % | — | % | — | % | — | % | — | % | — | % | 1.2 | % | 1.1 | % | ||||||||||||||||||||||||||||||||||
Other | 0.2 | % | — | % | (0.1) | % | (0.1) | % | — | % | 0.4 | % | — | % | (0.5) | % | ||||||||||||||||||||||||||||||||||
| Effective Income Tax Rate | (4.4) | % | 20.1 | % | 21.9 | % | 13.9 | % | (34.9) | % | 13.1 | % | (85.3) | % | (246.3) | % | ||||||||||||||||||||||||||||||||||
| AEP | AEP Texas | AEPTCo | APCo | I&M | OPCo | PSO | SWEPCo | |||||||||||||||||||||||||||||||||||||||||||
| (in millions) | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Severance Expense Incurred | $ | 122.0 | $ | 19.8 | $ | 10.7 | $ | 26.5 | $ | 14.8 | $ | 14.8 | $ | 10.1 | $ | 16.9 | ||||||||||||||||||||||||||||||||||
| Type of Debt | September 30, 2025 | December 31, 2024 | ||||||||||||
| (in millions) | ||||||||||||||
| Senior Unsecured Notes | $ | 37,865.2 | $ | 36,410.9 | ||||||||||
| Pollution Control Bonds | 1,685.7 | 1,771.3 | ||||||||||||
| Notes Payable | 614.8 | 609.9 | ||||||||||||
| Securitization Bonds | 983.3 | 578.0 | ||||||||||||
| Spent Nuclear Fuel Obligation (a) | 326.7 | 316.3 | ||||||||||||
| Junior Subordinated Notes | 3,707.9 | 2,579.1 | ||||||||||||
| Other Long-term Debt | 954.0 | 377.3 | ||||||||||||
| Total Long-term Debt Outstanding | 46,137.6 | 42,642.8 | ||||||||||||
| Long-term Debt Due Within One Year | 1,898.6 | 3,335.0 | ||||||||||||
| Long-term Debt | $ | 44,239.0 | $ | 39,307.8 | ||||||||||
| Principal | Interest | |||||||||||||||||||||||||
| Company | Type of Debt | Amount (a) | Rate | Due Date | ||||||||||||||||||||||
| Issuances: | (in millions) | (%) | ||||||||||||||||||||||||
| AEP | Junior Subordinated Notes | $ | 1,100.0 | 5.80 | 2056 | |||||||||||||||||||||
| AEP | Junior Subordinated Notes | 900.0 | 6.05 | 2056 | ||||||||||||||||||||||
| AEP Texas | Other Long-term Debt | 400.0 | Variable | 2026 | ||||||||||||||||||||||
| AEP Texas | Senior Unsecured Notes | 150.0 | 5.70 | 2034 | ||||||||||||||||||||||
| AEP Texas | Senior Unsecured Notes | 750.0 | 5.85 | 2055 | ||||||||||||||||||||||
| AEPTCo | Other Long-term Debt | 141.0 | Variable | 2028 | ||||||||||||||||||||||
| AEPTCo | Senior Unsecured Notes | 425.0 | 5.38 | 2035 | ||||||||||||||||||||||
| APCo | Other Long-term Debt | 425.0 | Variable | 2026 | ||||||||||||||||||||||
| APCo | Pollution Control Bonds | 104.4 | 3.70 | 2028 | ||||||||||||||||||||||
| APCo | Pollution Control Bonds | 65.3 | 3.30 | 2028 | ||||||||||||||||||||||
| I&M | Notes Payable | 100.0 | 4.89 | 2029 | ||||||||||||||||||||||
| I&M | Pollution Control Bonds | 150.0 | 3.70 | 2029 | ||||||||||||||||||||||
| PSO | Senior Unsecured Notes | 800.0 | 5.45 | 2036 | ||||||||||||||||||||||
| Non-Registrant: | ||||||||||||||||||||||||||
| KPCo | Other Long-term Debt | 150.0 | Variable | 2026 | ||||||||||||||||||||||
| KPCo | Securitization Bonds | 477.7 | 5.30 | 2045 | ||||||||||||||||||||||
| Transource Energy | Other Long-term Debt | 36.6 | Variable | 2025 | ||||||||||||||||||||||
| WPCo | Other Long-term Debt | 125.0 | Variable | 2026 | ||||||||||||||||||||||
| Total Issuances | $ | 6,300.0 | ||||||||||||||||||||||||
| Maximum | Average | Net Loans to | |||||||||||||||||||||||||||||||||||||||
| Borrowings | Maximum | Borrowings | Average | (Borrowings from) | Authorized | ||||||||||||||||||||||||||||||||||||
| from the | Loans to the | from the | Loans to the | the Utility Money | Short-term | ||||||||||||||||||||||||||||||||||||
| Utility | Utility | Utility | Utility | Pool as of | Borrowing | ||||||||||||||||||||||||||||||||||||
| Company | Money Pool | Money Pool | Money Pool | Money Pool | September 30, 2025 | Limit | |||||||||||||||||||||||||||||||||||
| (in millions) | |||||||||||||||||||||||||||||||||||||||||
| AEP Texas | $ | 468.4 | $ | 485.7 | $ | 172.6 | $ | 82.5 | $ | 418.1 | $ | 600.0 | |||||||||||||||||||||||||||||
| AEPTCo | 403.6 | 312.2 | 174.8 | 44.2 | (89.3) | 820.0 | (a) | ||||||||||||||||||||||||||||||||||
| APCo | 263.5 | 242.1 | 127.8 | 26.1 | 49.6 | 750.0 | |||||||||||||||||||||||||||||||||||
| I&M | 145.2 | 157.2 | 71.4 | 46.2 | 157.2 | 500.0 | |||||||||||||||||||||||||||||||||||
| OPCo | 270.9 | 165.9 | 126.0 | 81.7 | (13.0) | 600.0 | |||||||||||||||||||||||||||||||||||
| PSO | 505.1 | 391.5 | 221.2 | 166.1 | (39.7) | 750.0 | |||||||||||||||||||||||||||||||||||
| SWEPCo | 471.9 | 269.7 | 285.9 | 88.7 | 269.7 | 750.0 | |||||||||||||||||||||||||||||||||||
| Maximum Loans | Average Loans | Loans to the Nonutility | ||||||||||||||||||
| to the Nonutility | to the Nonutility | Money Pool as of | ||||||||||||||||||
| Company | Money Pool | Money Pool | September 30, 2025 | |||||||||||||||||
| (in millions) | ||||||||||||||||||||
| AEP Texas | $ | 7.2 | $ | 7.1 | $ | 7.2 | ||||||||||||||
| SWEPCo | 2.4 | 2.1 | — | |||||||||||||||||
| Borrowings | Authorized | |||||||||||||||||||||||||||||||||||||||||||
| Maximum | Maximum | Average | Average | from AEP | Loans to | Short-term | ||||||||||||||||||||||||||||||||||||||
| Borrowings | Loans | Borrowings | Loans | as of | AEP as of | Borrowing | ||||||||||||||||||||||||||||||||||||||
| Company | from AEP | to AEP | from AEP | to AEP | September 30, 2025 | September 30, 2025 | Limit (a) | |||||||||||||||||||||||||||||||||||||
| (in millions) | ||||||||||||||||||||||||||||||||||||||||||||
| AEPTCo Parent | $ | 106.6 | $ | 132.6 | $ | 17.7 | $ | 45.3 | $ | — | $ | 49.7 | $ | — | ||||||||||||||||||||||||||||||
| SWTCo | 2.0 | — | 1.9 | — | 2.0 | — | 50.0 | |||||||||||||||||||||||||||||||||||||
| Midwest Transmission Holdings | — | 34.1 | — | 6.1 | — | 0.3 | — | |||||||||||||||||||||||||||||||||||||
| Nine Months Ended September 30, | ||||||||||||||
| 2025 | 2024 | |||||||||||||
| Maximum Interest Rate | 4.83 | % | 5.79 | % | ||||||||||
| Minimum Interest Rate | 4.00 | % | 5.14 | % | ||||||||||
| Average Interest Rate for Funds | Average Interest Rate for Funds | |||||||||||||||||||||||||
| Borrowed from the Utility Money Pool | Loaned to the Utility Money Pool | |||||||||||||||||||||||||
| for Nine Months Ended September 30, | for Nine Months Ended September 30, | |||||||||||||||||||||||||
| Company | 2025 | 2024 | 2025 | 2024 | ||||||||||||||||||||||
| AEP Texas | 4.67 | % | 5.69 | % | 4.37 | % | 5.48 | % | ||||||||||||||||||
| AEPTCo | 4.65 | % | 5.68 | % | 4.62 | % | 5.58 | % | ||||||||||||||||||
| APCo | 4.67 | % | 5.72 | % | 4.58 | % | 5.51 | % | ||||||||||||||||||
| I&M | 4.69 | % | 5.64 | % | 4.50 | % | 5.44 | % | ||||||||||||||||||
| OPCo | 4.61 | % | 5.70 | % | 4.70 | % | 5.49 | % | ||||||||||||||||||
| PSO | 4.64 | % | 5.59 | % | 4.68 | % | — | % | ||||||||||||||||||
| SWEPCo | 4.69 | % | 5.58 | % | 4.55 | % | — | % | ||||||||||||||||||
| Nine Months Ended September 30, 2025 | Nine Months Ended September 30, 2024 | |||||||||||||||||||||||||||||||||||||
| Maximum | Minimum | Average | Maximum | Minimum | Average | |||||||||||||||||||||||||||||||||
| Interest Rate | Interest Rate | Interest Rate | Interest Rate | Interest Rate | Interest Rate | |||||||||||||||||||||||||||||||||
| for Funds | for Funds | for Funds | for Funds | for Funds | for Funds | |||||||||||||||||||||||||||||||||
| Loaned to | Loaned to | Loaned to | Loaned to | Loaned to | Loaned to | |||||||||||||||||||||||||||||||||
| the Nonutility | the Nonutility | the Nonutility | the Nonutility | the Nonutility | the Nonutility | |||||||||||||||||||||||||||||||||
| Company | Money Pool | Money Pool | Money Pool | Money Pool | Money Pool | Money Pool | ||||||||||||||||||||||||||||||||
| AEP Texas | 4.76 | % | 4.27 | % | 4.66 | % | 5.79 | % | 5.25 | % | 5.64 | % | ||||||||||||||||||||||||||
| SWEPCo | 4.76 | % | 4.62 | % | 4.69 | % | 5.79 | % | 5.25 | % | 5.64 | % | ||||||||||||||||||||||||||
| Maximum | Minimum | Maximum | Minimum | Average | Average | |||||||||||||||||||||||||||||||||
| Interest Rate | Interest Rate | Interest Rate | Interest Rate | Interest Rate | Interest Rate | |||||||||||||||||||||||||||||||||
| Nine Months | for Funds | for Funds | for Funds | for Funds | for Funds | for Funds | ||||||||||||||||||||||||||||||||
| Ended | Borrowed | Borrowed | Loaned | Loaned | Borrowed | Loaned | ||||||||||||||||||||||||||||||||
| September 30, | from AEP | from AEP | to AEP | to AEP | from AEP | to AEP | ||||||||||||||||||||||||||||||||
| 2025 | 4.76 | % | 4.27 | % | 4.76 | % | 4.27 | % | 4.64 | % | 4.64 | % | ||||||||||||||||||||||||||
| 2024 | 5.79 | % | 5.25 | % | 5.79 | % | 5.25 | % | 5.66 | % | 5.63 | % | ||||||||||||||||||||||||||
| September 30, 2025 | December 31, 2024 | |||||||||||||||||||||||||||||||
| Outstanding | Interest | Outstanding | Interest | |||||||||||||||||||||||||||||
| Company | Type of Debt | Amount | Rate (a) | Amount | Rate (a) | |||||||||||||||||||||||||||
| (dollars in millions) | ||||||||||||||||||||||||||||||||
| AEP | Securitized Debt for Receivables (b) | $ | 900.0 | 4.56 | % | $ | 900.0 | 4.73 | % | |||||||||||||||||||||||
| AEP | Commercial Paper | 250.0 | 4.30 | % | 1,618.3 | 4.70 | % | |||||||||||||||||||||||||
| SWEPCo | Notes Payable | 7.7 | 6.50 | % | 5.5 | 6.69 | % | |||||||||||||||||||||||||
| Total Short-term Debt | $ | 1,157.7 | $ | 2,523.8 | ||||||||||||||||||||||||||||
| Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||||||||||||
| 2025 | 2024 | 2025 | 2024 | |||||||||||||||||||||||
| (dollars in millions) | ||||||||||||||||||||||||||
Effective Interest Rates on Securitization of Accounts Receivable | 4.52 | % | 5.50 | % | 4.56 | % | 5.54 | % | ||||||||||||||||||
| Net Uncollectible Accounts Receivable Written-Off | $ | 10.8 | $ | 8.4 | $ | 24.7 | $ | 22.3 | ||||||||||||||||||
| September 30, 2025 | December 31, 2024 | |||||||||||||
| (in millions) | ||||||||||||||
Accounts Receivable Retained Interest and Pledged as Collateral Less Uncollectible Accounts | $ | 1,292.8 | $ | 1,117.0 | ||||||||||
| Short-term – Securitized Debt of Receivables | 900.0 | 900.0 | ||||||||||||
| Delinquent Securitized Accounts Receivable | 79.4 | 56.2 | ||||||||||||
| Bad Debt Reserves Related to Securitization | 43.4 | 44.5 | ||||||||||||
| Unbilled Receivables Related to Securitization | 319.4 | 335.5 | ||||||||||||
| Company | September 30, 2025 | December 31, 2024 | ||||||||||||
| (in millions) | ||||||||||||||
| APCo | $ | 183.0 | $ | 192.7 | ||||||||||
| I&M | 185.0 | 160.5 | ||||||||||||
| OPCo | 490.9 | 470.7 | ||||||||||||
| PSO | 202.5 | 111.4 | ||||||||||||
| SWEPCo | 200.3 | 153.5 | ||||||||||||
| Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||||||||||||
| Company | 2025 | 2024 | 2025 | 2024 | ||||||||||||||||||||||
| (in millions) | ||||||||||||||||||||||||||
| APCo | $ | 3.7 | $ | 4.0 | $ | 10.9 | $ | 12.1 | ||||||||||||||||||
| I&M | 4.2 | 4.1 | 11.2 | 12.0 | ||||||||||||||||||||||
| OPCo | 7.4 | 7.5 | 22.3 | 22.3 | ||||||||||||||||||||||
| PSO | 4.0 | 4.1 | 9.7 | 10.9 | ||||||||||||||||||||||
| SWEPCo | 4.1 | 4.4 | 11.9 | 13.5 | ||||||||||||||||||||||
| Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||||||||||||
| Company | 2025 | 2024 | 2025 | 2024 | ||||||||||||||||||||||
| (in millions) | ||||||||||||||||||||||||||
| APCo | $ | 495.4 | $ | 504.6 | $ | 1,530.0 | $ | 1,487.9 | ||||||||||||||||||
| I&M | 682.6 | 576.7 | 1,812.7 | 1,608.5 | ||||||||||||||||||||||
| OPCo | 927.8 | 860.0 | 2,523.3 | 2,477.2 | ||||||||||||||||||||||
| PSO | 659.6 | 611.5 | 1,466.3 | 1,398.1 | ||||||||||||||||||||||
| SWEPCo | 549.9 | 531.4 | 1,434.0 | 1,428.7 | ||||||||||||||||||||||
| September 30, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
| Consolidated VIEs | |||||||||||||||||||||||||||||||||||||||||||||||||||||
| SWEPCo Sabine | I&M DCC Fuel | AEP Texas Restoration Funding | APCo Appalachian Consumer Rate Relief Funding | SWEPCo Storm Recovery Funding | KPCo Cost Recovery Funding | AEP Credit | Protected Cell of EIS | Transource Energy | |||||||||||||||||||||||||||||||||||||||||||||
| (in millions) | |||||||||||||||||||||||||||||||||||||||||||||||||||||
| ASSETS | |||||||||||||||||||||||||||||||||||||||||||||||||||||
| Current Assets | $ | 2.0 | $ | 86.7 | $ | 12.5 | $ | 9.7 | $ | 9.1 | $ | 14.2 | $ | 1,640.7 | $ | 227.2 | $ | 63.7 | |||||||||||||||||||||||||||||||||||
| Net Property, Plant and Equipment | — | 152.2 | — | — | — | — | — | — | 633.0 | ||||||||||||||||||||||||||||||||||||||||||||
| Other Noncurrent Assets | 92.9 | 76.4 | 104.6 | (a) | 86.2 | (b) | 315.3 | 465.0 | (c) | 10.9 | 0.5 | 6.6 | |||||||||||||||||||||||||||||||||||||||||
| Total Assets | $ | 94.9 | $ | 315.3 | $ | 117.1 | $ | 95.9 | $ | 324.4 | $ | 479.2 | $ | 1,651.6 | $ | 227.7 | $ | 703.3 | |||||||||||||||||||||||||||||||||||
| LIABILITIES AND EQUITY | |||||||||||||||||||||||||||||||||||||||||||||||||||||
| Current Liabilities | $ | 18.1 | $ | 86.5 | $ | 30.3 | $ | 30.2 | $ | 18.4 | $ | 24.1 | $ | 1,529.6 | $ | 64.7 | $ | 31.2 | |||||||||||||||||||||||||||||||||||
| Noncurrent Liabilities | 76.8 | 228.8 | 85.4 | 63.8 | 304.3 | 452.7 | 1.0 | 94.2 | 339.8 | ||||||||||||||||||||||||||||||||||||||||||||
| Equity | — | — | 1.4 | 1.9 | 1.7 | 2.4 | 121.0 | 68.8 | 332.3 | ||||||||||||||||||||||||||||||||||||||||||||
| Total Liabilities and Equity | $ | 94.9 | $ | 315.3 | $ | 117.1 | $ | 95.9 | $ | 324.4 | $ | 479.2 | $ | 1,651.6 | $ | 227.7 | $ | 703.3 | |||||||||||||||||||||||||||||||||||
| December 31, 2024 | |||||||||||||||||||||||||||||||||||||||||||||||
| Consolidated VIEs | |||||||||||||||||||||||||||||||||||||||||||||||
| SWEPCo Sabine | I&M DCC Fuel | AEP Texas Restoration Funding | APCo Appalachian Consumer Rate Relief Funding | SWEPCo Storm Recovery Funding | AEP Credit | Protected Cell of EIS | Transource Energy | ||||||||||||||||||||||||||||||||||||||||
| (in millions) | |||||||||||||||||||||||||||||||||||||||||||||||
| ASSETS | |||||||||||||||||||||||||||||||||||||||||||||||
| Current Assets | $ | 6.0 | $ | 79.3 | $ | 21.3 | $ | 14.2 | $ | 3.4 | $ | 1,118.3 | $ | 218.5 | $ | 40.2 | |||||||||||||||||||||||||||||||
| Net Property, Plant and Equipment | — | 132.3 | — | — | — | — | — | 598.3 | |||||||||||||||||||||||||||||||||||||||
| Other Noncurrent Assets | 110.8 | 63.6 | 121.9 | (a) | 109.6 | (b) | 331.4 | 10.5 | — | 3.5 | |||||||||||||||||||||||||||||||||||||
| Total Assets | $ | 116.8 | $ | 275.2 | $ | 143.2 | $ | 123.8 | $ | 334.8 | $ | 1,128.8 | $ | 218.5 | $ | 642.0 | |||||||||||||||||||||||||||||||
| LIABILITIES AND EQUITY | |||||||||||||||||||||||||||||||||||||||||||||||
| Current Liabilities | $ | 20.1 | $ | 79.2 | $ | 30.7 | $ | 30.5 | $ | 24.4 | $ | 1,068.8 | $ | 54.7 | $ | 57.2 | |||||||||||||||||||||||||||||||
| Noncurrent Liabilities | 96.3 | 196.0 | 111.2 | 91.4 | 308.7 | 1.0 | 96.0 | 274.3 | |||||||||||||||||||||||||||||||||||||||
| Equity | 0.4 | — | 1.3 | 1.9 | 1.7 | 59.0 | 67.8 | 310.5 | |||||||||||||||||||||||||||||||||||||||
| Total Liabilities and Equity | $ | 116.8 | $ | 275.2 | $ | 143.2 | $ | 123.8 | $ | 334.8 | $ | 1,128.8 | $ | 218.5 | $ | 642.0 | |||||||||||||||||||||||||||||||
| Company | ARO as of December 31, 2024 | Accretion Expense | Liabilities Incurred | Liabilities Settled | Revisions in Cash Flow Estimates (a) | ARO as of September 30, 2025 | ||||||||||||||||||||||||||||||||
| (in millions) | ||||||||||||||||||||||||||||||||||||||
| AEP (b)(c)(d)(e)(f)(g) | $ | 3,611.7 | $ | 127.4 | $ | 21.2 | $ | (68.3) | $ | 36.2 | $ | 3,728.2 | ||||||||||||||||||||||||||
| PSO (b)(e)(f)(g) | 121.8 | 5.7 | 19.3 | (1.9) | (2.8) | 142.1 | ||||||||||||||||||||||||||||||||
| SWEPCo (b)(d)(e)(f) | 278.7 | 12.7 | — | (42.4) | 33.0 | 282.0 | ||||||||||||||||||||||||||||||||
| Three Months Ended September 30, 2025 | ||||||||||||||||||||||||||||||||||||||||||||
| VIU | T&D | AEPTHCo | G&M | Corporate and Other | Reconciling Adjustments | AEP Consolidated | ||||||||||||||||||||||||||||||||||||||
| (in millions) | ||||||||||||||||||||||||||||||||||||||||||||
| Retail Revenues: | ||||||||||||||||||||||||||||||||||||||||||||
| Residential Revenues | $ | 1,435.8 | $ | 797.8 | $ | — | $ | — | $ | — | $ | — | $ | 2,233.6 | ||||||||||||||||||||||||||||||
| Commercial Revenues | 861.7 | 422.7 | — | — | — | — | 1,284.4 | |||||||||||||||||||||||||||||||||||||
| Industrial Revenues (a) | 709.8 | 133.7 | — | — | — | (0.1) | 843.4 | |||||||||||||||||||||||||||||||||||||
| Other Retail Revenues | 67.0 | 15.4 | — | — | — | — | 82.4 | |||||||||||||||||||||||||||||||||||||
| Total Retail Revenues | 3,074.3 | 1,369.6 | — | — | — | (0.1) | 4,443.8 | |||||||||||||||||||||||||||||||||||||
Wholesale and Competitive Retail Revenues: | ||||||||||||||||||||||||||||||||||||||||||||
| Generation Revenues | 259.6 | — | — | 50.5 | — | — | 310.1 | |||||||||||||||||||||||||||||||||||||
| Transmission Revenues (b) | 141.3 | 210.0 | 531.3 | — | — | (479.5) | 403.1 | |||||||||||||||||||||||||||||||||||||
| Renewable Generation Revenues | — | — | — | 0.1 | — | — | 0.1 | |||||||||||||||||||||||||||||||||||||
| Retail, Trading and Marketing Revenues (c) | — | — | — | 648.0 | — | (18.9) | 629.1 | |||||||||||||||||||||||||||||||||||||
Total Wholesale and Competitive Retail Revenues | 400.9 | 210.0 | 531.3 | 698.6 | — | (498.4) | 1,342.4 | |||||||||||||||||||||||||||||||||||||
| Other Revenues from Contracts with Customers (d) | 96.1 | 84.4 | 12.0 | 3.0 | 34.1 | (53.7) | 175.9 | |||||||||||||||||||||||||||||||||||||
Total Revenues from Contracts with Customers | 3,571.3 | 1,664.0 | 543.3 | 701.6 | 34.1 | (552.2) | 5,962.1 | |||||||||||||||||||||||||||||||||||||
| Other Revenues: | ||||||||||||||||||||||||||||||||||||||||||||
| Alternative Revenue Programs (e) | 8.6 | 17.6 | 29.8 | — | — | (32.0) | 24.0 | |||||||||||||||||||||||||||||||||||||
| Other Revenues (a) (f) | 5.8 | 7.7 | 0.1 | 11.1 | 1.8 | (2.2) | 24.3 | |||||||||||||||||||||||||||||||||||||
| Total Other Revenues | 14.4 | 25.3 | 29.9 | 11.1 | 1.8 | (34.2) | 48.3 | |||||||||||||||||||||||||||||||||||||
| Total Revenues | $ | 3,585.7 | $ | 1,689.3 | $ | 573.2 | $ | 712.7 | $ | 35.9 | $ | (586.4) | $ | 6,010.4 | ||||||||||||||||||||||||||||||
| Three Months Ended September 30, 2024 | ||||||||||||||||||||||||||||||||||||||||||||
| VIU | T&D | AEPTHCo | G&M | Corporate and Other | Reconciling Adjustments | AEP Consolidated | ||||||||||||||||||||||||||||||||||||||
| (in millions) | ||||||||||||||||||||||||||||||||||||||||||||
| Retail Revenues: | ||||||||||||||||||||||||||||||||||||||||||||
| Residential Revenues | $ | 1,362.9 | $ | 773.7 | $ | — | $ | — | $ | — | $ | — | $ | 2,136.6 | ||||||||||||||||||||||||||||||
| Commercial Revenues | 776.1 | 396.5 | — | — | — | — | 1,172.6 | |||||||||||||||||||||||||||||||||||||
| Industrial Revenues (a) | 692.6 | 123.7 | — | — | — | (0.3) | 816.0 | |||||||||||||||||||||||||||||||||||||
| Other Retail Revenues | 63.8 | 13.9 | — | — | — | — | 77.7 | |||||||||||||||||||||||||||||||||||||
| Total Retail Revenues | 2,895.4 | 1,307.8 | — | — | — | (0.3) | 4,202.9 | |||||||||||||||||||||||||||||||||||||
Wholesale and Competitive Retail Revenues: | ||||||||||||||||||||||||||||||||||||||||||||
| Generation Revenues | 202.5 | — | — | 25.4 | — | 0.1 | 228.0 | |||||||||||||||||||||||||||||||||||||
| Transmission Revenues (b) | 129.6 | 195.1 | 505.5 | — | — | (439.4) | 390.8 | |||||||||||||||||||||||||||||||||||||
| Renewable Generation Revenues (a) | — | — | — | 8.7 | — | (1.5) | 7.2 | |||||||||||||||||||||||||||||||||||||
| Retail, Trading and Marketing Revenues (c) | — | — | — | 529.3 | (0.2) | (13.8) | 515.3 | |||||||||||||||||||||||||||||||||||||
Total Wholesale and Competitive Retail Revenues | 332.1 | 195.1 | 505.5 | 563.4 | (0.2) | (454.6) | 1,141.3 | |||||||||||||||||||||||||||||||||||||
| Other Revenues from Contracts with Customers (d) | 76.2 | 58.9 | 5.8 | 0.8 | 37.6 | (53.4) | 125.9 | |||||||||||||||||||||||||||||||||||||
Total Revenues from Contracts with Customers | 3,303.7 | 1,561.8 | 511.3 | 564.2 | 37.4 | (508.3) | 5,470.1 | |||||||||||||||||||||||||||||||||||||
| Other Revenues: | ||||||||||||||||||||||||||||||||||||||||||||
| Alternative Revenue Programs (a) (e) | 0.3 | 10.3 | 1.2 | — | — | 1.0 | 12.8 | |||||||||||||||||||||||||||||||||||||
| Other Revenues (a) (f) | (1.0) | 3.3 | — | (65.1) | 0.7 | (0.7) | (62.8) | |||||||||||||||||||||||||||||||||||||
| Total Other Revenues | (0.7) | 13.6 | 1.2 | (65.1) | 0.7 | 0.3 | (50.0) | |||||||||||||||||||||||||||||||||||||
| Total Revenues | $ | 3,303.0 | $ | 1,575.4 | $ | 512.5 | $ | 499.1 | $ | 38.1 | $ | (508.0) | $ | 5,420.1 | ||||||||||||||||||||||||||||||
| Three Months Ended September 30, 2025 | ||||||||||||||||||||||||||||||||||||||||||||
| AEP Texas | AEPTCo | APCo | I&M | OPCo | PSO | SWEPCo | ||||||||||||||||||||||||||||||||||||||
| (in millions) | ||||||||||||||||||||||||||||||||||||||||||||
| Retail Revenues: | ||||||||||||||||||||||||||||||||||||||||||||
| Residential Revenues | $ | 243.6 | $ | — | $ | 438.2 | $ | 249.1 | $ | 554.2 | $ | 334.9 | $ | 296.8 | ||||||||||||||||||||||||||||||
| Commercial Revenues | 123.9 | — | 194.0 | 216.8 | 298.8 | 184.4 | 189.0 | |||||||||||||||||||||||||||||||||||||
| Industrial Revenues (a) | 41.6 | — | 197.7 | 150.1 | 92.1 | 112.1 | 112.3 | |||||||||||||||||||||||||||||||||||||
| Other Retail Revenues | 11.3 | — | 26.8 | 1.2 | 4.0 | 33.7 | 3.5 | |||||||||||||||||||||||||||||||||||||
| Total Retail Revenues | 420.4 | — | 856.7 | 617.2 | 949.1 | 665.1 | 601.6 | |||||||||||||||||||||||||||||||||||||
| Wholesale Revenues: | ||||||||||||||||||||||||||||||||||||||||||||
| Generation Revenues (b) | — | — | 106.1 | 141.1 | — | 6.1 | 43.2 | |||||||||||||||||||||||||||||||||||||
| Transmission Revenues (c) | 184.3 | 515.9 | 44.4 | 11.1 | 25.7 | 8.1 | 60.9 | |||||||||||||||||||||||||||||||||||||
| Total Wholesale Revenues | 184.3 | 515.9 | 150.5 | 152.2 | 25.7 | 14.2 | 104.1 | |||||||||||||||||||||||||||||||||||||
| Other Revenues from Contracts with Customers (d) | 10.4 | 12.0 | 42.2 | 35.9 | 74.0 | 13.7 | 15.8 | |||||||||||||||||||||||||||||||||||||
Total Revenues from Contracts with Customers | 615.1 | 527.9 | 1,049.4 | 805.3 | 1,048.8 | 693.0 | 721.5 | |||||||||||||||||||||||||||||||||||||
| Other Revenues: | ||||||||||||||||||||||||||||||||||||||||||||
| Alternative Revenue Programs (e) | 3.8 | 30.1 | 6.5 | 0.9 | 13.6 | 0.3 | 2.4 | |||||||||||||||||||||||||||||||||||||
| Other Revenues (a) | 0.2 | — | 0.1 | 6.0 | 7.8 | 0.1 | — | |||||||||||||||||||||||||||||||||||||
| Total Other Revenues | 4.0 | 30.1 | 6.6 | 6.9 | 21.4 | 0.4 | 2.4 | |||||||||||||||||||||||||||||||||||||
| Total Revenues | $ | 619.1 | $ | 558.0 | $ | 1,056.0 | $ | 812.2 | $ | 1,070.2 | $ | 693.4 | $ | 723.9 | ||||||||||||||||||||||||||||||
| Three Months Ended September 30, 2024 | ||||||||||||||||||||||||||||||||||||||||||||
| AEP Texas | AEPTCo | APCo | I&M | OPCo | PSO | SWEPCo | ||||||||||||||||||||||||||||||||||||||
| (in millions) | ||||||||||||||||||||||||||||||||||||||||||||
| Retail Revenues: | ||||||||||||||||||||||||||||||||||||||||||||
| Residential Revenues | $ | 230.2 | $ | — | $ | 442.6 | $ | 249.4 | $ | 543.4 | $ | 301.1 | $ | 260.1 | ||||||||||||||||||||||||||||||
| Commercial Revenues | 120.3 | — | 196.4 | 169.9 | 276.2 | 165.1 | 172.5 | |||||||||||||||||||||||||||||||||||||
| Industrial Revenues (a) | 33.7 | — | 201.2 | 155.4 | 89.9 | 98.5 | 102.5 | |||||||||||||||||||||||||||||||||||||
| Other Retail Revenues | 9.7 | — | 28.1 | 1.2 | 4.2 | 30.8 | 2.3 | |||||||||||||||||||||||||||||||||||||
| Total Retail Revenues | 393.9 | — | 868.3 | 575.9 | 913.7 | 595.5 | 537.4 | |||||||||||||||||||||||||||||||||||||
| Wholesale Revenues: | ||||||||||||||||||||||||||||||||||||||||||||
| Generation Revenues (b) | — | — | 78.7 | 113.5 | — | 2.1 | 42.7 | |||||||||||||||||||||||||||||||||||||
| Transmission Revenues (c) | 170.6 | 491.9 | 45.6 | 10.4 | 24.5 | 12.0 | 50.0 | |||||||||||||||||||||||||||||||||||||
| Total Wholesale Revenues | 170.6 | 491.9 | 124.3 | 123.9 | 24.5 | 14.1 | 92.7 | |||||||||||||||||||||||||||||||||||||
| Other Revenues from Contracts with Customers (d) | 8.2 | 6.0 | 36.2 | 35.3 | 50.8 | 6.0 | 8.8 | |||||||||||||||||||||||||||||||||||||
Total Revenues from Contracts with Customers | 572.7 | 497.9 | 1,028.8 | 735.1 | 989.0 | 615.6 | 638.9 | |||||||||||||||||||||||||||||||||||||
| Other Revenues: | ||||||||||||||||||||||||||||||||||||||||||||
| Alternative Revenue Programs (a) (e) | (1.5) | (0.7) | — | (0.4) | 11.9 | (0.2) | (0.1) | |||||||||||||||||||||||||||||||||||||
| Other Revenues (a) | — | — | 0.1 | (1.2) | 3.3 | — | — | |||||||||||||||||||||||||||||||||||||
| Total Other Revenues | (1.5) | (0.7) | 0.1 | (1.6) | 15.2 | (0.2) | (0.1) | |||||||||||||||||||||||||||||||||||||
| Total Revenues | $ | 571.2 | $ | 497.2 | $ | 1,028.9 | $ | 733.5 | $ | 1,004.2 | $ | 615.4 | $ | 638.8 | ||||||||||||||||||||||||||||||
| Nine Months Ended September 30, 2025 | ||||||||||||||||||||||||||||||||||||||||||||
| VIU | T&D | AEPTHCo | G&M | Corporate and Other | Reconciling Adjustments | AEP Consolidated | ||||||||||||||||||||||||||||||||||||||
| (in millions) | ||||||||||||||||||||||||||||||||||||||||||||
| Retail Revenues: | ||||||||||||||||||||||||||||||||||||||||||||
| Residential Revenues | $ | 3,817.8 | $ | 2,148.6 | $ | — | $ | — | $ | — | $ | — | $ | 5,966.4 | ||||||||||||||||||||||||||||||
| Commercial Revenues | 2,276.4 | 1,225.0 | — | — | — | — | 3,501.4 | |||||||||||||||||||||||||||||||||||||
| Industrial Revenues (a) | 2,032.2 | 401.9 | — | — | — | (0.6) | 2,433.5 | |||||||||||||||||||||||||||||||||||||
| Other Retail Revenues | 181.9 | 44.9 | — | — | — | — | 226.8 | |||||||||||||||||||||||||||||||||||||
| Total Retail Revenues | 8,308.3 | 3,820.4 | — | — | — | (0.6) | 12,128.1 | |||||||||||||||||||||||||||||||||||||
Wholesale and Competitive Retail Revenues: | ||||||||||||||||||||||||||||||||||||||||||||
| Generation Revenues | 801.9 | — | — | 139.8 | — | — | 941.7 | |||||||||||||||||||||||||||||||||||||
| Transmission Revenues (b) | 419.4 | 604.4 | 1,751.0 | — | — | (1,551.8) | 1,223.0 | |||||||||||||||||||||||||||||||||||||
| Renewable Generation Revenues | — | — | — | 0.1 | — | — | 0.1 | |||||||||||||||||||||||||||||||||||||
| Retail, Trading and Marketing Revenues (c) | — | — | — | 1,808.2 | (0.2) | (50.4) | 1,757.6 | |||||||||||||||||||||||||||||||||||||
| Total Wholesale and Competitive Retail Revenues | 1,221.3 | 604.4 | 1,751.0 | 1,948.1 | (0.2) | (1,602.2) | 3,922.4 | |||||||||||||||||||||||||||||||||||||
| Other Revenues from Contracts with Customers (d) | 197.1 | 192.5 | 29.7 | 6.4 | 104.7 | (148.3) | 382.1 | |||||||||||||||||||||||||||||||||||||
Total Revenues from Contracts with Customers | 9,726.7 | 4,617.3 | 1,780.7 | 1,954.5 | 104.5 | (1,751.1) | 16,432.6 | |||||||||||||||||||||||||||||||||||||
| Other Revenues: | ||||||||||||||||||||||||||||||||||||||||||||
| Alternative Revenue Programs (e) | 26.4 | 33.5 | 91.1 | — | — | (94.3) | 56.7 | |||||||||||||||||||||||||||||||||||||
| Other Revenues (a) (f) | (14.4) | 15.2 | 0.1 | 71.3 | 5.6 | (6.4) | 71.4 | |||||||||||||||||||||||||||||||||||||
| Total Other Revenues | 12.0 | 48.7 | 91.2 | 71.3 | 5.6 | (100.7) | 128.1 | |||||||||||||||||||||||||||||||||||||
| Total Revenues | $ | 9,738.7 | $ | 4,666.0 | $ | 1,871.9 | $ | 2,025.8 | $ | 110.1 | $ | (1,851.8) | $ | 16,560.7 | ||||||||||||||||||||||||||||||
| Nine Months Ended September 30, 2024 | ||||||||||||||||||||||||||||||||||||||||||||
| VIU | T&D | AEPTHCo | G&M | Corporate and Other | Reconciling Adjustments | AEP Consolidated | ||||||||||||||||||||||||||||||||||||||
| (in millions) | ||||||||||||||||||||||||||||||||||||||||||||
| Retail Revenues: | ||||||||||||||||||||||||||||||||||||||||||||
| Residential Revenues | $ | 3,524.2 | $ | 2,127.7 | $ | — | $ | — | $ | — | $ | — | $ | 5,651.9 | ||||||||||||||||||||||||||||||
| Commercial Revenues | 2,071.0 | 1,184.6 | — | — | — | — | 3,255.6 | |||||||||||||||||||||||||||||||||||||
| Industrial Revenues (a) | 1,992.5 | 382.8 | — | — | — | (0.6) | 2,374.7 | |||||||||||||||||||||||||||||||||||||
| Other Retail Revenues | 174.9 | 41.5 | — | — | — | — | 216.4 | |||||||||||||||||||||||||||||||||||||
| Total Retail Revenues | 7,762.6 | 3,736.6 | — | — | — | (0.6) | 11,498.6 | |||||||||||||||||||||||||||||||||||||
Wholesale and Competitive Retail Revenues: | ||||||||||||||||||||||||||||||||||||||||||||
| Generation Revenues | 587.4 | — | — | 76.5 | — | 0.1 | 664.0 | |||||||||||||||||||||||||||||||||||||
| Transmission Revenues (b) | 371.5 | 583.2 | 1,490.8 | — | — | (1,255.0) | 1,190.5 | |||||||||||||||||||||||||||||||||||||
| Renewable Generation Revenues (a) | — | — | — | 23.2 | — | (4.3) | 18.9 | |||||||||||||||||||||||||||||||||||||
Retail, Trading and Marketing Revenues (c) | — | — | — | 1,586.2 | 0.6 | (83.7) | 1,503.1 | |||||||||||||||||||||||||||||||||||||
Total Wholesale and Competitive Retail Revenues | 958.9 | 583.2 | 1,490.8 | 1,685.9 | 0.6 | (1,342.9) | 3,376.5 | |||||||||||||||||||||||||||||||||||||
| Other Revenues from Contracts with Customers (d) | 183.3 | 148.8 | 20.1 | 3.1 | 153.2 | (170.9) | 337.6 | |||||||||||||||||||||||||||||||||||||
Total Revenues from Contracts with Customers | 8,904.8 | 4,468.6 | 1,510.9 | 1,689.0 | 153.8 | (1,514.4) | 15,212.7 | |||||||||||||||||||||||||||||||||||||
| Other Revenues: | ||||||||||||||||||||||||||||||||||||||||||||
| Alternative Revenue Programs (a) (e) | (12.5) | 17.7 | (11.2) | — | — | (15.3) | (21.3) | |||||||||||||||||||||||||||||||||||||
| Other Revenues (a) (f) | (22.4) | 15.2 | — | (158.9) | (5.2) | 4.9 | (166.4) | |||||||||||||||||||||||||||||||||||||
| Total Other Revenues | (34.9) | 32.9 | (11.2) | (158.9) | (5.2) | (10.4) | (187.7) | |||||||||||||||||||||||||||||||||||||
| Total Revenues | $ | 8,869.9 | $ | 4,501.5 | $ | 1,499.7 | $ | 1,530.1 | $ | 148.6 | $ | (1,524.8) | $ | 15,025.0 | ||||||||||||||||||||||||||||||
| Nine Months Ended September 30, 2025 | ||||||||||||||||||||||||||||||||||||||||||||
| AEP Texas | AEPTCo | APCo | I&M | OPCo | PSO | SWEPCo | ||||||||||||||||||||||||||||||||||||||
| (in millions) | ||||||||||||||||||||||||||||||||||||||||||||
| Retail Revenues: | ||||||||||||||||||||||||||||||||||||||||||||
| Residential Revenues | $ | 595.7 | $ | — | $ | 1,409.8 | $ | 671.3 | $ | 1,552.9 | $ | 700.6 | $ | 680.7 | ||||||||||||||||||||||||||||||
| Commercial Revenues | 357.8 | — | 582.5 | 561.5 | 867.3 | 421.5 | 485.1 | |||||||||||||||||||||||||||||||||||||
| Industrial Revenues (a) | 122.8 | — | 599.6 | 440.5 | 279.1 | 273.8 | 305.2 | |||||||||||||||||||||||||||||||||||||
| Other Retail Revenues | 32.3 | — | 83.2 | 3.7 | 12.6 | 80.3 | 8.9 | |||||||||||||||||||||||||||||||||||||
| Total Retail Revenues | 1,108.6 | — | 2,675.1 | 1,677.0 | 2,711.9 | 1,476.2 | 1,479.9 | |||||||||||||||||||||||||||||||||||||
| Wholesale Revenues: | ||||||||||||||||||||||||||||||||||||||||||||
| Generation Revenues (b) | — | — | 273.6 | 474.4 | — | 11.7 | 147.5 | |||||||||||||||||||||||||||||||||||||
| Transmission Revenues (c) | 533.0 | 1,704.1 | 132.1 | 40.1 | 71.4 | 37.9 | 155.2 | |||||||||||||||||||||||||||||||||||||
| Total Wholesale Revenues | 533.0 | 1,704.1 | 405.7 | 514.5 | 71.4 | 49.6 | 302.7 | |||||||||||||||||||||||||||||||||||||
Other Revenues from Contracts with Customers (d) | 29.0 | 29.8 | 75.1 | 92.8 | 163.6 | 28.8 | 31.6 | |||||||||||||||||||||||||||||||||||||
| Total Revenues from Contracts with Customers | 1,670.6 | 1,733.9 | 3,155.9 | 2,284.3 | 2,946.9 | 1,554.6 | 1,814.2 | |||||||||||||||||||||||||||||||||||||
| Other Revenues: | ||||||||||||||||||||||||||||||||||||||||||||
| Alternative Revenue Program (e) | 2.7 | 93.0 | 20.2 | 1.9 | 30.7 | 2.2 | 11.2 | |||||||||||||||||||||||||||||||||||||
| Other Revenues (a) | — | — | 0.4 | (14.6) | 15.1 | 0.1 | — | |||||||||||||||||||||||||||||||||||||
| Total Other Revenues | 2.7 | 93.0 | 20.6 | (12.7) | 45.8 | 2.3 | 11.2 | |||||||||||||||||||||||||||||||||||||
| Total Revenues | $ | 1,673.3 | $ | 1,826.9 | $ | 3,176.5 | $ | 2,271.6 | $ | 2,992.7 | $ | 1,556.9 | $ | 1,825.4 | ||||||||||||||||||||||||||||||
| Nine Months Ended September 30, 2024 | ||||||||||||||||||||||||||||||||||||||||||||
| AEP Texas | AEPTCo | APCo | I&M | OPCo | PSO | SWEPCo | ||||||||||||||||||||||||||||||||||||||
| (in millions) | ||||||||||||||||||||||||||||||||||||||||||||
| Retail Revenues: | ||||||||||||||||||||||||||||||||||||||||||||
| Residential Revenues | $ | 562.4 | $ | — | $ | 1,333.7 | $ | 664.7 | $ | 1,565.2 | $ | 647.1 | $ | 563.2 | ||||||||||||||||||||||||||||||
| Commercial Revenues | 346.2 | — | 571.8 | 465.5 | 838.4 | 398.2 | 413.2 | |||||||||||||||||||||||||||||||||||||
| Industrial Revenues (a) | 103.3 | — | 603.5 | 456.4 | 279.4 | 269.9 | 269.8 | |||||||||||||||||||||||||||||||||||||
| Other Retail Revenues | 28.7 | — | 84.3 | 3.8 | 12.9 | 78.2 | 6.6 | |||||||||||||||||||||||||||||||||||||
| Total Retail Revenues | 1,040.6 | — | 2,593.3 | 1,590.4 | 2,695.9 | 1,393.4 | 1,252.8 | |||||||||||||||||||||||||||||||||||||
| Wholesale Revenues: | ||||||||||||||||||||||||||||||||||||||||||||
| Generation Revenues (b) | — | — | 235.9 | 305.6 | — | 7.0 | 139.9 | |||||||||||||||||||||||||||||||||||||
| Transmission Revenues (c) | 511.3 | 1,450.5 | 138.3 | 30.5 | 71.9 | 33.0 | 136.3 | |||||||||||||||||||||||||||||||||||||
| Total Wholesale Revenues | 511.3 | 1,450.5 | 374.2 | 336.1 | 71.9 | 40.0 | 276.2 | |||||||||||||||||||||||||||||||||||||
Other Revenues from Contracts with Customers (d) | 27.4 | 20.3 | 71.0 | 92.3 | 121.5 | 30.4 | 26.0 | |||||||||||||||||||||||||||||||||||||
| Total Revenues from Contracts with Customers | 1,579.3 | 1,470.8 | 3,038.5 | 2,018.8 | 2,889.3 | 1,463.8 | 1,555.0 | |||||||||||||||||||||||||||||||||||||
| Other Revenues: | ||||||||||||||||||||||||||||||||||||||||||||
| Alternative Revenue Programs (a) (e) | (2.1) | (15.6) | (6.6) | (0.9) | 19.8 | (1.8) | (4.2) | |||||||||||||||||||||||||||||||||||||
| Other Revenues (a) | — | — | 0.2 | (22.7) | 15.2 | — | — | |||||||||||||||||||||||||||||||||||||
| Total Other Revenues | (2.1) | (15.6) | (6.4) | (23.6) | 35.0 | (1.8) | (4.2) | |||||||||||||||||||||||||||||||||||||
| Total Revenues | $ | 1,577.2 | $ | 1,455.2 | $ | 3,032.1 | $ | 1,995.2 | $ | 2,924.3 | $ | 1,462.0 | $ | 1,550.8 | ||||||||||||||||||||||||||||||
| Company | 2025 | 2026-2027 | 2028-2029 | After 2029 | Total | |||||||||||||||||||||||||||
| (in millions) | ||||||||||||||||||||||||||||||||
| AEP | $ | 21.8 | $ | 144.1 | $ | 49.0 | $ | 16.1 | $ | 231.0 | ||||||||||||||||||||||
| APCo | 4.0 | 32.2 | 26.5 | 11.6 | 74.3 | |||||||||||||||||||||||||||
| I&M | 1.1 | 8.8 | 6.8 | 2.4 | 19.1 | |||||||||||||||||||||||||||
| AEP Texas | AEPTCo | APCo | I&M | OPCo | PSO | SWEPCo | ||||||||||||||||||||||||||||||||||||||
| (in millions) | ||||||||||||||||||||||||||||||||||||||||||||
| September 30, 2025 | $ | 0.1 | $ | 143.7 | $ | 93.9 | $ | 58.2 | $ | 65.3 | $ | 19.9 | $ | 53.0 | ||||||||||||||||||||||||||||||
| December 31, 2024 | — | 131.6 | 83.7 | 55.0 | 63.6 | 13.0 | 21.4 | |||||||||||||||||||||||||||||||||||||
| Exhibit | Description | Previously Filed as Exhibit to: | ||||||||||||
| AEP‡ File No. 1-3525 | ||||||||||||||
| *4(a) | Supplemental Indenture No. 7 between the Company and The Bank of New York Mellon Trust Company, N.A., as Trustee, dated September 25, 2025, establishing the terms of the Debentures | |||||||||||||
| AEP Texas‡ File No. 3-221643 | ||||||||||||||
| *4(a) | Company Order and Officers’ Certificate between AEP Texas and The Bank of New York Mellon Trust Company, N.A., as Trustee, dated September 24, 2025, establishing terms of the Notes | |||||||||||||
| AEPTCo‡ File No. 3-217143 | ||||||||||||||
| *4(a) | Note Purchase Agreement, dated October 15, 2025, by and among AEP Transmission Company, LLC, the Secretary of Energy acting through the U.S. Department of Energy and the Federal Financing Bank. | |||||||||||||
| *4(b) | Future Advance Promissory Note of AEP Transmission Company, LLC, dated October 15, 2025. | |||||||||||||
| *10.1 | Loan Guarantee Agreement, dated October 15, 2025, by and between AEP Transmission Company, LLC and the U.S. Department of Energy. | |||||||||||||
| Exhibit | Description | AEP | AEP Texas | AEPTCo | APCo | I&M | OPCo | PSO | SWEPCo | |||||||||||||||||||||||||||||||||||||||||||||||
| 31(a) | Certification of Chief Executive Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 31(b) | Certification of Chief Financial Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 32(a) | Certification of Chief Executive Officer Pursuant to Section 1350 of Chapter 63 of Title 18 of the United States Code | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 32(b) | Certification of Chief Financial Officer Pursuant to Section 1350 of Chapter 63 of Title 18 of the United States Code | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 101.INS | XBRL Instance Document | The instance document does not appear in the interactive data file because its XBRL tags are embedded within the inline XBRL document. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 101.SCH | XBRL Taxonomy Extension Schema | X | X | X | X | X | X | X | X | |||||||||||||||||||||||||||||||||||||||||||||||
| 101.CAL | XBRL Taxonomy Extension Calculation Linkbase | X | X | X | X | X | X | X | X | |||||||||||||||||||||||||||||||||||||||||||||||
| 101.DEF | XBRL Taxonomy Extension Definition Linkbase | X | X | X | X | X | X | X | X | |||||||||||||||||||||||||||||||||||||||||||||||
| 101.LAB | XBRL Taxonomy Extension Label Linkbase | X | X | X | X | X | X | X | X | |||||||||||||||||||||||||||||||||||||||||||||||
| 101.PRE | XBRL Taxonomy Extension Presentation Linkbase | X | X | X | X | X | X | X | X | |||||||||||||||||||||||||||||||||||||||||||||||
| 104 | Cover Page Interactive Data File | Formatted as Inline XBRL and contained in Exhibit 101. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Date: October 29, 2025 | By: | /s/ William J. Fehrman | |||||||||
| William J. Fehrman | |||||||||||
| Chief Executive Officer | |||||||||||
| Date: October 29, 2025 | By: | /s/ William J. Fehrman | |||||||||
| William J. Fehrman | |||||||||||
| Chief Executive Officer | |||||||||||
| Date: October 29, 2025 | By: | /s/ William J. Fehrman | |||||||||
| William J. Fehrman | |||||||||||
| Chief Executive Officer | |||||||||||
| Date: October 29, 2025 | By: | /s/ William J. Fehrman | |||||||||
| William J. Fehrman | |||||||||||
| Chief Executive Officer | |||||||||||
| Date: October 29, 2025 | By: | /s/ William J. Fehrman | |||||||||
| William J. Fehrman | |||||||||||
| Chief Executive Officer | |||||||||||
| Date: October 29, 2025 | By: | /s/ William J. Fehrman | |||||||||
| William J. Fehrman | |||||||||||
| Chief Executive Officer | |||||||||||
| Date: October 29, 2025 | By: | /s/ William J. Fehrman | |||||||||
| William J. Fehrman | |||||||||||
| Chief Executive Officer | |||||||||||
| Date: October 29, 2025 | By: | /s/ William J. Fehrman | |||||||||
| William J. Fehrman | |||||||||||
| Chief Executive Officer | |||||||||||
| Date: October 29, 2025 | By: | /s/ Trevor I. Mihalik | |||||||||
| Trevor I. Mihalik | |||||||||||
| Chief Financial Officer | |||||||||||
| Date: October 29, 2025 | By: | /s/ Trevor I. Mihalik | |||||||||
| Trevor I. Mihalik | |||||||||||
| Chief Financial Officer | |||||||||||
| Date: October 29, 2025 | By: | /s/ Trevor I. Mihalik | |||||||||
| Trevor I. Mihalik | |||||||||||
| Chief Financial Officer | |||||||||||
| Date: October 29, 2025 | By: | /s/ Trevor I. Mihalik | |||||||||
| Trevor I. Mihalik | |||||||||||
| Chief Financial Officer | |||||||||||
| Date: October 29, 2025 | By: | /s/ Trevor I. Mihalik | |||||||||
| Trevor I. Mihalik | |||||||||||
| Chief Financial Officer | |||||||||||
| Date: October 29, 2025 | By: | /s/ Trevor I. Mihalik | |||||||||
| Trevor I. Mihalik | |||||||||||
| Chief Financial Officer | |||||||||||
| Date: October 29, 2025 | By: | /s/ Trevor I. Mihalik | |||||||||
| Trevor I. Mihalik | |||||||||||
| Chief Financial Officer | |||||||||||
| Date: October 29, 2025 | By: | /s/ Trevor I. Mihalik | |||||||||
| Trevor I. Mihalik | |||||||||||
| Chief Financial Officer | |||||||||||