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PROPERTY, PLANT AND EQUIPMENT (Tables)
 12 Months Ended
Dec. 31, 2025
Property, Plant and Equipment [Abstract]  
Schedule of Property, Plant and Equipment
Property, Plant and Equipment is shown functionally on the face of the balance sheets. The following tables include the total plant balances as of December 31, 2025 and 2024:
December 31, 2025AEPAEP TexasAEPTCoAPCoI&MOPCoPSOSWEPCo
(in millions)
Regulated Property, Plant and Equipment
Generation
$28,252 (a)$— $— $7,886 $5,415 $— $4,365 $6,621 (a)
Transmission42,557 8,229 16,542 5,277 2,055 3,916 1,433 3,302 
Distribution33,364 6,835 — 5,938 3,823 7,661 3,987 3,242 
Other7,731 1,236 571 1,127 1,011 1,277 1,289 726 
CWIP7,613 (a)1,766 2,005 802 397 811 635 712 (a)
Less: Accumulated Depreciation
27,879 2,204 1,915 6,360 4,829 2,992 2,749 3,288 
Total Regulated Property, Plant and Equipment - Net
91,638 15,862 17,203 14,670 7,872 10,673 8,960 11,315 
Nonregulated Property, Plant and Equipment - Net
736 2 — 43 72 11 4 26 
Total Property, Plant and Equipment - Net
$92,374 $15,864 $17,203 $14,713 $7,944 $10,684 $8,964 $11,341 

December 31, 2024AEPAEP TexasAEPTCoAPCoI&MOPCoPSOSWEPCo
(in millions)
Regulated Property, Plant and Equipment
Generation
$24,695 (a)$— $— $7,273 $5,439 $— $2,772 $5,288 (a)
Transmission38,871 7,547 14,913 5,001 1,958 3,664 1,345 2,864 
Distribution31,062 6,250 — 5,569 3,535 7,244 3,699 3,007 
Other6,545 1,173 516 1,023 947 1,245 547 683 
CWIP6,322 (a)1,118 1,965 743 330 691 379 627 (a)
Less: Accumulated Depreciation
25,794 2,046 1,578 6,031 4,607 2,883 2,215 3,049 
Total Regulated Property, Plant and Equipment - Net
81,701 14,042 15,816 13,578 7,602 9,961 6,527 9,420 
Nonregulated Property, Plant and Equipment - Net
715 2 — 35 77 10 5 26 
Total Property, Plant and Equipment - Net
$82,416 $14,044 $15,816 $13,613 $7,679 $9,971 $6,532 $9,446 

(a)AEP and SWEPCo’s regulated generation and regulated CWIP include amounts related to SWEPCo’s Arkansas jurisdictional share of the Turk Plant.
Schedule of Depreciation, Depletion and Amortization - Regulated The following tables provide total regulated annual composite depreciation rates and depreciable lives for the Registrants:
AEP
202520242023
Functional Class of PropertyAnnual Composite
Depreciation Rate Ranges		Depreciable
Life Ranges		Annual Composite
Depreciation Rate Ranges		Depreciable
Life Ranges		Annual Composite
Depreciation Rate Ranges		Depreciable
Life Ranges
(in years)(in years)(in years)
Generation2.3%-5.0%20-1622.7%-4.9%20-1622.7%-4.7%20-162
Transmission1.8%-2.7%15-792.1%-2.7%15-792.0%-2.7%15-78
Distribution2.7%-3.4%7-852.8%-3.5%7-852.9%-3.6%7-85
Other1.5%-8.7%5-753.0%-8.9%5-753.8%-9.1%5-75

AEP Texas
202520242023
Functional Class of PropertyAnnual Composite
Depreciation Rate		Depreciable
Life Ranges		Annual Composite
Depreciation Rate		Depreciable
Life Ranges		Annual Composite
Depreciation Rate		Depreciable
Life Ranges
(in years)(in years)(in years)
Transmission2.3%50-792.2%50-792.2%50-75
Distribution2.7%15-742.8%15-742.9%7-70
Other5.8%5-545.9%5-546.0%5-50

AEPTCo
202520242023
Functional Class of PropertyAnnual Composite
Depreciation Rate		Depreciable
Life Ranges		Annual Composite
Depreciation Rate		Depreciable
Life Ranges		Annual Composite
Depreciation Rate		Depreciable
Life Ranges
(in years)(in years)(in years)
Transmission2.7%24-782.7%24-782.6%24-78
Other7.4%5-587.1%5-587.0%5-58

APCo
202520242023
Functional Class of PropertyAnnual Composite
Depreciation Rate		Depreciable
Life Ranges		Annual Composite
Depreciation Rate		Depreciable
Life Ranges		Annual Composite
Depreciation Rate		Depreciable
Life Ranges
(in years)(in years)(in years)
Generation3.0%20-1623.2%35-1623.3%35-162
Transmission2.3%15-782.3%15-782.3%15-78
Distribution3.3%15-603.5%12-603.6%12-60
Other6.6%5-556.8%5-557.4%5-55

I&M
202520242023
Functional Class of PropertyAnnual Composite
Depreciation Rate		Depreciable
Life Ranges		Annual Composite
Depreciation Rate		Depreciable
Life Ranges		Annual Composite
Depreciation Rate		Depreciable
Life Ranges
(in years)(in years)(in years)
Generation5.0%20-1324.9%20-1324.7%20-132
Transmission2.6%44-672.6%44-672.5%44-67
Distribution2.7%15-762.8%15-762.9%14-71
Other8.7%5-458.9%5-459.1%5-45

OPCo
202520242023
Functional Class of PropertyAnnual Composite
Depreciation Rate		Depreciable
Life Ranges		Annual Composite
Depreciation Rate		Depreciable
Life Ranges		Annual Composite
Depreciation Rate		Depreciable
Life Ranges
(in years)(in years)(in years)
Transmission2.3%39-602.3%39-602.3%39-60
Distribution2.9%11-703.1%11-703.1%11-70
Other6.0%5-505.9%5-506.4%5-50
PSO
202520242023
Functional Class of PropertyAnnual Composite
Depreciation Rate		Depreciable
Life Ranges		Annual Composite
Depreciation Rate		Depreciable
Life Ranges		Annual Composite
Depreciation Rate		Depreciable
Life Ranges
(in years)(in years)(in years)
Generation2.3%30-783.3%30-783.0%25-75
Transmission2.6%41-752.6%41-752.6%41-75
Distribution2.8%15-852.8%15-852.9%15-85
Other6.8%5-586.6%5-586.8%5-58

SWEPCo
202520242023
Functional Class of PropertyAnnual Composite
Depreciation Rate		Depreciable
Life Ranges		Annual Composite
Depreciation Rate		Depreciable
Life Ranges		Annual Composite
Depreciation Rate		Depreciable
Life Ranges
(in years)(in years)(in years)
Generation3.4%30-653.7%30-652.9%30-65
Transmission2.1%46-702.2%46-702.2%46-70
Distribution2.9%7-752.9%7-752.9%7-75
Other6.9%5-586.7%5-588.5%5-58
Schedule of Depreciation, Depletion and Amortization - Unregulated
The following table includes the nonregulated annual composite depreciation rate ranges and nonregulated depreciable life ranges for AEP. With the exception of I&M, the Registrants' depreciation rate ranges and depreciable life ranges are not meaningful for nonregulated property for 2025, 2024 and 2023.
202520242023
Functional Class of PropertyAnnual Composite
Depreciation Rate Ranges (a)		Depreciable
Life Ranges (a)		Annual Composite
Depreciation Rate Ranges (a)		Depreciable
Life Ranges (a)		Annual Composite
Depreciation Rate Ranges		Depreciable
Life Ranges
(in years)(in years)(in years)
Generation1.9%-7.6%39-611.8%-6.0%39-614.8%-6.7%10-61
TransmissionNANANANA2.5%62
DistributionNANANANANANA
Other10.3%5-359.7%5-3510.6%5-35
(a) I&M's annual composite depreciation rate for Generation property is 1.9% and the depreciable life is 39 years.
NA Not applicable.
Schedule of Asset Retirement Obligation (ARO)
The following is a reconciliation of the 2025 and 2024 aggregate carrying amounts of ARO by Registrant:
CompanyARO as of December 31, 2024Accretion
Expense 		Liabilities
Incurred		Liabilities
Settled		Revisions in
Cash Flow
Estimates (a)		ARO as of December 31, 2025
(in millions)
AEP(b)(c)(d)(e)(f)(g)$3,612 $170 $45 $(103)$(12)$3,712 
AEP Texas (e)4 — — — — 4 
APCo (b)(e)(f)(g)802 42 4 (19)(51)778 
I&M (b)(c)(e)2,094 86 — (2)4 2,182 
OPCo (b)(e)56 4 — (1)1 60 
PSO (b)(e)(f)(g)122 8 19 (3)(3)143 
SWEPCo (b)(d)(e)(f)(g)279 16 20 (65)40 290 
CompanyARO as of December 31, 2023Accretion
Expense		Liabilities
Incurred		Liabilities
Settled		Revisions in
Cash Flow
Estimates (a)		ARO as of December 31, 2024
(in millions)
AEP (b)(c)(d)(e)(f)$3,031 $140 $612 $(102)$(69)$3,612 
AEP Texas (e)5 — — (1)— 4 
APCo (b)(e)(f)464 28 247 (18)81 802 
I&M (b)(c)(e)2,106 80 86 (2)(176)2,094 
OPCo (b)(e)2 1 53 — — 56 
PSO (b)(e)(f)84 6 34 (2)— 122 
SWEPCo (b)(d)(e)(f)282 16 30 (69)20 279 

(a)Unless discussed above, primarily related to ash ponds, landfills and mine reclamation, generally due to changes in estimated closure area, volumes and/or unit costs.
(b)Includes ARO related to ash disposal facilities.
(c)Includes ARO related to nuclear decommissioning costs for the Cook Plant.
(d)Includes ARO related to Sabine and DHLC.
(e)Includes ARO related to asbestos removal.
(f)Includes ARO related to renewables.
(g)Includes ARO related to incurred ARO liabilities due to the acquisitions in 2025. See the “Acquisitions” section of Note 7 for additional information.
Schedule of Allowance For Equity Funds Used During Construction
The Registrants’ amounts of allowance for equity funds used during construction are summarized in the following table:
Years Ended December 31,
Company202520242023
(in millions)
AEP$245 $211 $175 
AEP Texas53 46 28 
AEPTCo93 89 83 
APCo17 16 12 
I&M18 13 11 
OPCo25 23 17 
PSO11 7 8 
SWEPCo23 14 11 
Schedule of Allowance For Borrowed Funds Used During Construction
The Registrants’ amounts of allowance for borrowed funds used during construction, including capitalized interest, are summarized in the following table:
Years Ended December 31,
Company202520242023
(in millions)
AEP$154 $130 $117 
AEP Texas28 31 23 
AEPTCo37 34 31 
APCo10 11 14 
I&M10 9 8 
OPCo13 13 14 
PSO9 10 5 
SWEPCo13 15 10 
Schedule of Jointly-owned Electric Facilities Each Registrant’s proportionate share of the operating costs associated with these facilities is included in its statements of income and the investments and accumulated depreciation are reflected in its balance sheets under Property, Plant and Equipment as follows:
Registrant’s Share as of December 31, 2025
Fuel
Type		Percent of
Ownership		Utility Plant
in Service		Construction
Work in
Progress		Accumulated
Depreciation
(in millions)
AEP
Flint Creek Generating Station, Unit 1 (a)Coal50.0 %$406 $2 $208 
Turk Generating Plant (a)Coal73.3 %1,520 1 381 
Total
$1,926 $3 $589 
I&M
Rockport Generating Plant (b)(c)Coal50.0 %$1,353 $16 $1,341 
PSO
North Central Wind Energy Facilities (d)(e)Wind45.5 %$912 $3 $101 
SWEPCo
Flint Creek Generating Station, Unit 1 (a)Coal50.0 %$406 $2 $208 
Turk Generating Plant (a)Coal73.3 %1,520 1 381 
North Central Wind Energy Facilities (d)(e)Wind54.5 %1,093 4 128 
Total$3,019 $7 $717 
Registrant’s Share as of December 31, 2024
Fuel
Type		Percent of
Ownership		Utility Plant
in Service		Construction
Work in
Progress		Accumulated
Depreciation
(in millions)
AEP
Flint Creek Generating Station, Unit 1 (a)Coal50.0 %$404 $4 $189 
Turk Generating Plant (a)Coal73.3 %1,517 1 350 
Total
$1,921 $5 $539 
I&M
Rockport Generating Plant (b)(c)Coal50.0 %$1,345 $11 $1,182 
PSO
North Central Wind Energy Facilities (d)(e)Wind45.5 %$912 $1 $78 
SWEPCo
Flint Creek Generating Station, Unit 1 (a)Coal50.0 %$404 $4 $189 
Turk Generating Plant (a)Coal73.3 %1,517 1 350 
North Central Wind Energy Facilities (d)(e)Wind54.5 %1,094 1 98 
Total
$3,015 $6 $637 

(a)Operated by SWEPCo.
(b)Operated by I&M
(c)AEGCo owns 50%
(d)Operated by PSO.
(e)PSO and SWEPCo own undivided interests of 45.5% and 54.5% of the NCWF, respectively.