CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Dec. 31, 2025	Dec. 31, 2024
CURRENT ASSETS
Cash and Cash Equivalents	$ 197	$ 203
Restricted Cash	71	43
Other Temporary Investments	220	215
Accounts Receivable:
Customers	1,166	1,100
Accrued Unbilled Revenues	421	367
Pledged Accounts Receivable – AEP Credit	1,272	1,162
Miscellaneous	60	64
Allowance for Credit Losses	(52)	(61)
Total Accounts Receivable	2,867	2,632
Fuel	576	749
Materials and Supplies	1,046	966
Risk Management Assets	352	210
Accrued Tax Benefits	85	38
Regulatory Asset for Under-Recovered Fuel Costs	426	446
Prepayments and Other Current Assets	212	287
TOTAL CURRENT ASSETS	6,052	5,789
PROPERTY, PLANT AND EQUIPMENT
Generation	28,388	24,830
Transmission	42,557	38,872
Distribution	33,364	31,062
Other Property, Plant and Equipment (Including Coal Mining and Nuclear Fuel)	8,635	7,491
Construction Work in Progress	7,635	6,347
Total Property, Plant and Equipment	120,579	108,602
Accumulated Depreciation and Amortization	28,205	26,186
TOTAL PROPERTY, PLANT AND EQUIPMENT – NET	92,374	82,416
OTHER NONCURRENT ASSETS
Regulatory Assets	4,804	5,129
Securitized Assets	933	554
Spent Nuclear Fuel and Decommissioning Trusts	4,916	4,395
Goodwill	53	53
Long-term Risk Management Assets	265	289
Operating Lease Assets	661	580
Deferred Charges and Other Noncurrent Assets	4,402	3,873
TOTAL OTHER NONCURRENT ASSETS	16,034	14,873
TOTAL ASSETS	114,460	103,078
CURRENT LIABILITIES
Accounts Payable	3,429	2,638
Short-term Debt:
Securitized Debt for Receivables – AEP Credit	900	900
Other Short-term Debt	608	1,624
Total Short-term Debt	1,508	2,524
Long-term Debt Due Within One Year	3,194	3,335
Risk Management Liabilities	132	100
Customer Deposits	507	455
Accrued Taxes	2,002	1,922
Accrued Interest	544	453
Obligations Under Operating Leases	100	92
Other Current Liabilities	1,898	1,490
TOTAL CURRENT LIABILITIES	13,314	13,009
NONCURRENT LIABILITIES
Long-term Debt	44,128	39,308
Long-term Risk Management Liabilities	178	224
Deferred Income Taxes	10,951	9,972
Regulatory Liabilities and Deferred Investment Tax Credits	8,362	8,344
Asset Retirement Obligations	3,556	3,531
Employee Benefits and Pension Obligations	232	361
Obligations Under Operating Leases	578	504
Deferred Credits and Other Noncurrent Liabilities	905	801
TOTAL NONCURRENT LIABILITIES	68,890	63,045
TOTAL LIABILITIES	82,204	76,054
Rate Matters (Note 4)
Commitments and Contingencies (Note 6)
Contingently Redeemable Performance Share Awards	38	38
EQUITY
Common Stock	3,523	3,472
Paid-in Capital	12,138	9,606
Retained Earnings	15,441	13,869
Accumulated Other Comprehensive Income (Loss)	36	(3)
TOTAL COMMON SHAREHOLDER’S EQUITY	31,138	26,944
Noncontrolling Interests	1,080	42
TOTAL EQUITY	32,218	26,986
TOTAL LIABILITIES AND EQUITY	$ 114,460	$ 103,078