XML 1085 R47.htm IDEA: XBRL DOCUMENT

Financing Activities (Tables)

12 Months Ended

Dec. 31, 2012

		Held in
Shares of AEP Common Stock	Issued	Treasury
Balance, December 31, 2009	498,333,265	20,278,858
Issued	2,781,616	-
Treasury Stock Acquired	-	28,867
Balance, December 31, 2010	501,114,881	20,307,725
Issued	2,644,579	-
Treasury Stock Acquired	-	28,867
Balance, December 31, 2011	503,759,460	20,336,592
Issued	2,245,502	-
Balance, December 31, 2012	506,004,962	20,336,592

Long-term Debt

		Weighted
		Average
		Interest
		Rate as of	Interest Rate Ranges as of		Outstanding as of
		December 31,	December 31,		December 31,
Type of Debt and Maturity		2012	2012	2011	2012		2011
					(in millions)
Senior Unsecured Notes (a)
	2012-2042	5.46%	0.685%-8.13%	0.955%-8.13%	$	12,712	$	11,737

Pollution Control Bonds (b)
	2012-2038 (c)	3.58%	0.11%-6.30%	0.06%-6.30%		1,958		2,112

Notes Payable (d)
	2012-2032	4.35%	1.913%-8.03%	2.029%-8.03%		427		402

Securitization Bonds (e)
	2013-2024	4.21%	0.88%-6.25%	4.98%-6.25%		2,281		1,688

Junior Subordinated Debentures (a)
	2063			8.75%		-		315

Spent Nuclear Fuel Obligation (f)						265		265

Other Long-term Debt (g)
	2015-2059	2.63%	1.72%-13.718%	3.00%-13.718%		140		29

Fair Value of Interest Rate Hedges						3		7
Unamortized Discount, Net						(29)		(39)
Total Long-term Debt Outstanding						17,757		16,516
Long-term Debt Due Within One Year						2,171		1,433
Long-term Debt					$	15,586	$	15,083

(a) In 2012, AEP issued $850 million of Senior Unsecured Notes used to retire $243 million of Senior Unsecured Notes and $315 million of Junior Subordinated Debentures.

(b) For certain series of pollution control bonds, interest rates are subject to periodic adjustment. Certain series may be purchased on demand at periodic interest adjustment dates. Letters of credit from banks, standby bond purchase agreements and insurance policies support certain series.

(c) Certain pollution control bonds are subject to redemption earlier than the maturity date. Consequently, these bonds have been classified for maturity purposes as Long-term Debt Due Within One Year on the balance sheets.

(d) Notes payable represent outstanding promissory notes issued under term loan agreements and credit agreements with a number of banks and other financial institutions. At expiration, all notes then issued and outstanding are due and payable. Interest rates are both fixed and variable. Variable rates generally relate to specified short-term interest rates.

(e) In 2012, AEP Texas Central Transition Funding III LLC issued $800 million of Securitization Bonds (see Note 15).

(f) Spent nuclear fuel obligation consists of a liability along with accrued interest for disposal of spent nuclear fuel (see "SNF Disposal" section of Note 5).

(g) In 2012, I&M issued a $110 million three-year credit facility to be used for general corporate purposes.

Long-term Debt 5-Year Maturity

											After
	2013		2014		2015		2016		2017		2017		Total
	(in millions)
Principal Amount	$	2,171	$	1,169	$	1,438	$	840	$	1,655	$	10,513	$	17,786
Unamortized Discount, Net														(29)
Total Long-term Debt Outstanding													$	17,757

Lines of Credit and Short-term Debt

	December 31,
	2012				2011
	Outstanding		Interest		Outstanding		Interest
Type of Debt	Amount		Rate (a)		Amount		Rate (a)
	(in millions)				(in millions)
Securitized Debt for Receivables (b)	$	657	0.26	%	$	666	0.27	%
Commercial Paper		321	0.42	%		967	0.51	%
Line of Credit – Sabine (c)		3	1.82	%		17	1.79	%
Total Short-term Debt	$	981			$	1,650

(a) Weighted average rate.

(b) Amount of securitized debt for receivables as accounted for under the "Transfers and Servicing" accounting guidance.

Comparative Accounts Receivable Information

		Years Ended December 31,
		2012			2011			2010
		(dollars in millions)
Effective Interest Rates on Securitization of
	Accounts Receivable		0.26	%		0.27	%		0.31	%
Net Uncollectible Accounts Receivable Written Off		$	29		$	37		$	22

Customer Accounts Receivable Managed Portfolio

		December 31,
		2012			2011
		(in millions)
Accounts Receivable Retained Interest and Pledged as Collateral
	Less Uncollectible Accounts	$	835	$	902
Total Principal Outstanding			657		666
Delinquent Securitized Accounts Receivable			37		38
Bad Debt Reserves Related to Securitization/Sale of Accounts Receivable			21		18
Unbilled Receivables Related to Securitization/Sale of Accounts Receivable			316		370

Appalachian Power Co [Member]

Preferred Stock

	Par Value of		Loss on
Company	Stock Redeemed		Redemption
		(in thousands)
APCo	$	17,736	$	1,013
I&M		8,072		314
OPCo		16,613		488
PSO		4,882		254
SWEPCo		4,694		369

			Number of Shares Redeemed
			Years Ended December 31,
Company	Series		2011	2010
APCo	4.50	%	177,465	53
I&M	4.12	%	11,055	-
I&M	4.125	%	55,257	44
I&M	4.56	%	14,412	-
OPCo	4.08	%	14,495	100
OPCo	4.20	%	22,824	-
OPCo	4.40	%	31,482	-
OPCo	4.50	%	97,357	6
PSO	4.00	%	44,508	-
PSO	4.24	%	4,310	3,759
SWEPCo	4.28	%	7,386	-
SWEPCo	4.65	%	1,907	-
SWEPCo	5.00	%	37,665	8

Long-term Debt

		Weighted
		Average
		Interest
		Rate as of			Outstanding as of
		December 31,	Interest Rate Ranges as of December 31,		December 31,
Company	Maturity	2012	2012	2011	2012		2011
Senior Unsecured Notes					(in thousands)
APCo	2012-2038	5.43%	0.685%-7.95%	3.40%-7.95%	$	3,167,559	$	3,141,843
I&M	2012-2037	6.24%	5.05%-7.00%	5.05%-7.00%		1,171,080		1,270,599
OPCo	2012-2035	5.84%	4.85%-6.60%	0.955%-6.60%		3,142,615		3,291,823
PSO	2016-2037	5.52%	4.40%-6.625%	4.40%-6.625%		896,364		896,023
SWEPCo	2015-2040	5.56%	3.55%-6.45%	4.90%-6.45%		1,822,653		1,548,437

Pollution Control Bonds (a)
APCo	2012-2038 (b)	2.01%	0.12%-5.375%	0.07%-6.05%		532,500		582,000
I&M	2012-2025 (b)	4.03%	0.11%-6.25%	0.06%-6.25%		266,531		266,494
OPCo	2012-2038 (b)	3.72%	0.13%-5.80%	0.07%-5.80%		517,825		562,325
PSO	2014-2020	5.03%	4.45%-5.25%	4.45%-5.25%		46,360		46,360
SWEPCo	2015-2018	4.28%	3.25%-4.95%	3.25%-4.95%		135,200		135,200

Notes Payable - Affiliated
OPCo	2015	5.25%	5.25%	5.25%		200,000		200,000

Notes Payable - Nonaffiliated
I&M	2013-2016	2.42%	1.913%-5.44%	2.029%-5.44%		224,376		234,590
SWEPCo	2012-2032	5.09%	4.58%-6.37%	6.37%-7.03%		88,375		45,000

Spent Nuclear Fuel Obligation (c)
I&M						265,249		265,065

Other Long-term Debt
APCo	2026	13.718%	13.718%	13.718%		2,383		2,408
I&M (d)	2015-2025	2.39%	1.72%-6.00%	6.00%		130,430		20,927
PSO	2027	3.00%	3.00%	3.00%		7,147		4,981

(a) For certain series of pollution control bonds, interest rates are subject to periodic adjustment. Certain series may be purchased on demand at periodic interest adjustment dates. Letters of credit from banks, standby bond purchase agreements and insurance policies support certain series.

(b) Certain pollution control bonds are subject to redemption earlier than the maturity date. Consequently, these bonds have been classified for maturity purposes as Long-term Debt Due Within One Year – Nonaffiliated on the balance sheets.

(c) Spent nuclear fuel obligation consists of a liability along with accrued interest for disposal of spent nuclear fuel (see “SNF Disposal” section of Note 4).

(d) In 2012, I&M issued a $110 million three-year credit facility to be used for general corporate purposes.

Long-term Debt 5-Year Maturity

		APCo		I&M		OPCo		PSO		SWEPCo
		(in thousands)
2013		$	574,679	$	203,953	$	856,000	$	764	$	3,250
2014			100,033		353,946		403,580		34,115		3,250
2015			500,038		253,730		286,000		427		306,750
2016			65,393		4,158		350,000		150,440		3,250
2017			250,049		1,479		-		454		253,250
After 2017			2,219,692		1,244,789		1,972,245		767,307		1,478,825
Principal Amount			3,709,884		2,062,055		3,867,825		953,507		2,048,575
Unamortized Discount, Net			(7,442)		(4,389)		(7,385)		(3,636)		(2,347)
Total Long-term Debt
	Outstanding	$	3,702,442	$	2,057,666	$	3,860,440	$	949,871	$	2,046,228

Utility Money Pool Participants' Money Pool Activity and Authorized Borrowing Limits

									Net
									Loans
	Maximum		Maximum		Average		Average		(Borrowings)		Authorized
	Borrowings		Loans		Borrowings		Loans		to/from Utility		Short-term
	from Utility		to Utility		from Utility		to Utility		Money Pool as of		Borrowing
Company	Money Pool		Money Pool		Money Pool		Money Pool		December 31, 2012		Limit
	(in thousands)
APCo	$	350,153	$	23,504	$	161,363	$	22,821	$	(150,941)	$	600,000
I&M		-		362,733		-		202,439		116,977		500,000
OPCo		126,975		290,356		47,820		105,154		116,422		600,000
PSO		-		177,778		-		92,697		10,558		300,000
SWEPCo		227,087		173,778		147,338		78,994		153,829		350,000

									Net
									Loans
	Maximum		Maximum		Average		Average		(Borrowings)		Authorized
	Borrowings		Loans		Borrowings		Loans		to/from Utility		Short-term
	from Utility		to Utility		from Utility		to Utility		Money Pool as of		Borrowing
Company	Money Pool		Money Pool		Money Pool		Money Pool		December 31, 2011		Limit
	(in thousands)
APCo	$	217,876	$	393,811	$	117,378	$	96,186	$	(176,240)	$	600,000
I&M		57,352		219,386		23,793		56,999		95,714		500,000
OPCo		46,761		452,187		31,365		225,728		219,458		600,000
PSO		96,034		255,611		41,971		88,805		39,876		300,000
SWEPCo		136,752		105,184		47,232		38,798		(132,473)		350,000

Maximum and Minimum Interest Rates for Funds Either Borrowed from or Loaned to Utility Money Pool

	Years Ended December 31,
	2012		2011		2010
Maximum Interest Rate	0.56	%	0.56	%	0.55	%
Minimum Interest Rate	0.39	%	0.06	%	0.09	%

Average Interest Rates for Funds Borrowed from and Loaned to Utility Money Pool

	Average Interest Rate						Average Interest Rate
	for Funds Borrowed						for Funds Loaned
	from Utility Money Pool for						to Utility Money Pool for
	Years Ended December 31,						Years Ended December 31,
Company	2012		2011		2010		2012		2011		2010
APCo	0.47	%	0.42	%	0.26	%	0.47	%	0.32	%	-	%
I&M	-	%	0.39	%	0.43	%	0.46	%	0.38	%	0.24	%
OPCo	0.47	%	0.45	%	-	%	0.47	%	0.35	%	0.22	%
PSO	-	%	0.41	%	0.31	%	0.46	%	0.32	%	0.17	%
SWEPCo	0.53	%	0.40	%	0.19	%	0.45	%	0.33	%	0.27	%

Interest Expense Incurred by Registrant Subsidiaries' for amounts borrowed from the Utility Money Pool

	Years Ended December 31,
Company	2012		2011		2010
			(in thousands)
APCo	$	772	$	198	$	611
I&M		-		20		17
OPCo		555		12		16
PSO		11		85		102
SWEPCo		977		174		11

Interest Income Earned by Registrant Subsidiaries' for Amounts Advanced to the Utility Money Pool

	Years Ended December 31,
Company	2012		2011		2010
			(in thousands)
APCo	$	123	$	313	$	9
I&M		963		226		219
OPCo		1,038		820		708
PSO		435		250		19
SWEPCo		320		32		438

Accounts Receivable and Accrued Unbilled Revenues

	December 31,
Company	2012		2011
	(in thousands)
APCo	$	153,719	$	121,605
I&M		123,447		121,597
OPCo		300,675		346,695
PSO		85,530		123,172
SWEPCo		132,449		140,440

Fees Paid to AEP Credit for Customer Accounts Receivable Sold

	Years Ended December 31,
Company	2012		2011		2010
	(in thousands)
APCo	$	6,883	$	9,612	$	9,194
I&M		6,121		6,168		6,770
OPCo		20,312		18,851		20,630
PSO		7,054		6,363		5,406
SWEPCo		6,140		5,672		5,688

Proceeds on Sale of Receivables to AEP Credit

	Years Ended December 31,
Company	2012		2011		2010
	(in thousands)
APCo	$	1,353,920	$	1,248,253	$	1,418,487
I&M		1,344,260		1,323,068		1,283,955
OPCo		2,952,723		3,461,758		3,495,609
PSO		1,157,174		1,299,190		1,196,586
SWEPCo		1,481,925		1,495,397		1,402,525

Indiana Michigan Power Co [Member]

Preferred Stock

	Par Value of		Loss on
Company	Stock Redeemed		Redemption
		(in thousands)
APCo	$	17,736	$	1,013
I&M		8,072		314
OPCo		16,613		488
PSO		4,882		254
SWEPCo		4,694		369

			Number of Shares Redeemed
			Years Ended December 31,
Company	Series		2011	2010
APCo	4.50	%	177,465	53
I&M	4.12	%	11,055	-
I&M	4.125	%	55,257	44
I&M	4.56	%	14,412	-
OPCo	4.08	%	14,495	100
OPCo	4.20	%	22,824	-
OPCo	4.40	%	31,482	-
OPCo	4.50	%	97,357	6
PSO	4.00	%	44,508	-
PSO	4.24	%	4,310	3,759
SWEPCo	4.28	%	7,386	-
SWEPCo	4.65	%	1,907	-
SWEPCo	5.00	%	37,665	8

Long-term Debt

		Weighted
		Average
		Interest
		Rate as of			Outstanding as of
		December 31,	Interest Rate Ranges as of December 31,		December 31,
Company	Maturity	2012	2012	2011	2012		2011
Senior Unsecured Notes					(in thousands)
APCo	2012-2038	5.43%	0.685%-7.95%	3.40%-7.95%	$	3,167,559	$	3,141,843
I&M	2012-2037	6.24%	5.05%-7.00%	5.05%-7.00%		1,171,080		1,270,599
OPCo	2012-2035	5.84%	4.85%-6.60%	0.955%-6.60%		3,142,615		3,291,823
PSO	2016-2037	5.52%	4.40%-6.625%	4.40%-6.625%		896,364		896,023
SWEPCo	2015-2040	5.56%	3.55%-6.45%	4.90%-6.45%		1,822,653		1,548,437

Pollution Control Bonds (a)
APCo	2012-2038 (b)	2.01%	0.12%-5.375%	0.07%-6.05%		532,500		582,000
I&M	2012-2025 (b)	4.03%	0.11%-6.25%	0.06%-6.25%		266,531		266,494
OPCo	2012-2038 (b)	3.72%	0.13%-5.80%	0.07%-5.80%		517,825		562,325
PSO	2014-2020	5.03%	4.45%-5.25%	4.45%-5.25%		46,360		46,360
SWEPCo	2015-2018	4.28%	3.25%-4.95%	3.25%-4.95%		135,200		135,200

Notes Payable - Affiliated
OPCo	2015	5.25%	5.25%	5.25%		200,000		200,000

Notes Payable - Nonaffiliated
I&M	2013-2016	2.42%	1.913%-5.44%	2.029%-5.44%		224,376		234,590
SWEPCo	2012-2032	5.09%	4.58%-6.37%	6.37%-7.03%		88,375		45,000

Spent Nuclear Fuel Obligation (c)
I&M						265,249		265,065

Other Long-term Debt
APCo	2026	13.718%	13.718%	13.718%		2,383		2,408
I&M (d)	2015-2025	2.39%	1.72%-6.00%	6.00%		130,430		20,927
PSO	2027	3.00%	3.00%	3.00%		7,147		4,981

(c) Spent nuclear fuel obligation consists of a liability along with accrued interest for disposal of spent nuclear fuel (see “SNF Disposal” section of Note 4).

(d) In 2012, I&M issued a $110 million three-year credit facility to be used for general corporate purposes.

Long-term Debt 5-Year Maturity

		APCo		I&M		OPCo		PSO		SWEPCo
		(in thousands)
2013		$	574,679	$	203,953	$	856,000	$	764	$	3,250
2014			100,033		353,946		403,580		34,115		3,250
2015			500,038		253,730		286,000		427		306,750
2016			65,393		4,158		350,000		150,440		3,250
2017			250,049		1,479		-		454		253,250
After 2017			2,219,692		1,244,789		1,972,245		767,307		1,478,825
Principal Amount			3,709,884		2,062,055		3,867,825		953,507		2,048,575
Unamortized Discount, Net			(7,442)		(4,389)		(7,385)		(3,636)		(2,347)
Total Long-term Debt
	Outstanding	$	3,702,442	$	2,057,666	$	3,860,440	$	949,871	$	2,046,228

Utility Money Pool Participants' Money Pool Activity and Authorized Borrowing Limits

									Net
									Loans
	Maximum		Maximum		Average		Average		(Borrowings)		Authorized
	Borrowings		Loans		Borrowings		Loans		to/from Utility		Short-term
	from Utility		to Utility		from Utility		to Utility		Money Pool as of		Borrowing
Company	Money Pool		Money Pool		Money Pool		Money Pool		December 31, 2012		Limit
	(in thousands)
APCo	$	350,153	$	23,504	$	161,363	$	22,821	$	(150,941)	$	600,000
I&M		-		362,733		-		202,439		116,977		500,000
OPCo		126,975		290,356		47,820		105,154		116,422		600,000
PSO		-		177,778		-		92,697		10,558		300,000
SWEPCo		227,087		173,778		147,338		78,994		153,829		350,000

									Net
									Loans
	Maximum		Maximum		Average		Average		(Borrowings)		Authorized
	Borrowings		Loans		Borrowings		Loans		to/from Utility		Short-term
	from Utility		to Utility		from Utility		to Utility		Money Pool as of		Borrowing
Company	Money Pool		Money Pool		Money Pool		Money Pool		December 31, 2011		Limit
	(in thousands)
APCo	$	217,876	$	393,811	$	117,378	$	96,186	$	(176,240)	$	600,000
I&M		57,352		219,386		23,793		56,999		95,714		500,000
OPCo		46,761		452,187		31,365		225,728		219,458		600,000
PSO		96,034		255,611		41,971		88,805		39,876		300,000
SWEPCo		136,752		105,184		47,232		38,798		(132,473)		350,000

Maximum and Minimum Interest Rates for Funds Either Borrowed from or Loaned to Utility Money Pool

	Years Ended December 31,
	2012		2011		2010
Maximum Interest Rate	0.56	%	0.56	%	0.55	%
Minimum Interest Rate	0.39	%	0.06	%	0.09	%

Average Interest Rates for Funds Borrowed from and Loaned to Utility Money Pool

	Average Interest Rate						Average Interest Rate
	for Funds Borrowed						for Funds Loaned
	from Utility Money Pool for						to Utility Money Pool for
	Years Ended December 31,						Years Ended December 31,
Company	2012		2011		2010		2012		2011		2010
APCo	0.47	%	0.42	%	0.26	%	0.47	%	0.32	%	-	%
I&M	-	%	0.39	%	0.43	%	0.46	%	0.38	%	0.24	%
OPCo	0.47	%	0.45	%	-	%	0.47	%	0.35	%	0.22	%
PSO	-	%	0.41	%	0.31	%	0.46	%	0.32	%	0.17	%
SWEPCo	0.53	%	0.40	%	0.19	%	0.45	%	0.33	%	0.27	%

Interest Expense Incurred by Registrant Subsidiaries' for amounts borrowed from the Utility Money Pool

	Years Ended December 31,
Company	2012		2011		2010
			(in thousands)
APCo	$	772	$	198	$	611
I&M		-		20		17
OPCo		555		12		16
PSO		11		85		102
SWEPCo		977		174		11

Interest Income Earned by Registrant Subsidiaries' for Amounts Advanced to the Utility Money Pool

	Years Ended December 31,
Company	2012		2011		2010
			(in thousands)
APCo	$	123	$	313	$	9
I&M		963		226		219
OPCo		1,038		820		708
PSO		435		250		19
SWEPCo		320		32		438

Accounts Receivable and Accrued Unbilled Revenues

	December 31,
Company	2012		2011
	(in thousands)
APCo	$	153,719	$	121,605
I&M		123,447		121,597
OPCo		300,675		346,695
PSO		85,530		123,172
SWEPCo		132,449		140,440

Fees Paid to AEP Credit for Customer Accounts Receivable Sold

	Years Ended December 31,
Company	2012		2011		2010
	(in thousands)
APCo	$	6,883	$	9,612	$	9,194
I&M		6,121		6,168		6,770
OPCo		20,312		18,851		20,630
PSO		7,054		6,363		5,406
SWEPCo		6,140		5,672		5,688

Proceeds on Sale of Receivables to AEP Credit

	Years Ended December 31,
Company	2012		2011		2010
	(in thousands)
APCo	$	1,353,920	$	1,248,253	$	1,418,487
I&M		1,344,260		1,323,068		1,283,955
OPCo		2,952,723		3,461,758		3,495,609
PSO		1,157,174		1,299,190		1,196,586
SWEPCo		1,481,925		1,495,397		1,402,525

Ohio Power Co [Member]

Preferred Stock

	Par Value of		Loss on
Company	Stock Redeemed		Redemption
		(in thousands)
APCo	$	17,736	$	1,013
I&M		8,072		314
OPCo		16,613		488
PSO		4,882		254
SWEPCo		4,694		369

			Number of Shares Redeemed
			Years Ended December 31,
Company	Series		2011	2010
APCo	4.50	%	177,465	53
I&M	4.12	%	11,055	-
I&M	4.125	%	55,257	44
I&M	4.56	%	14,412	-
OPCo	4.08	%	14,495	100
OPCo	4.20	%	22,824	-
OPCo	4.40	%	31,482	-
OPCo	4.50	%	97,357	6
PSO	4.00	%	44,508	-
PSO	4.24	%	4,310	3,759
SWEPCo	4.28	%	7,386	-
SWEPCo	4.65	%	1,907	-
SWEPCo	5.00	%	37,665	8

Long-term Debt

		Weighted
		Average
		Interest
		Rate as of			Outstanding as of
		December 31,	Interest Rate Ranges as of December 31,		December 31,
Company	Maturity	2012	2012	2011	2012		2011
Senior Unsecured Notes					(in thousands)
APCo	2012-2038	5.43%	0.685%-7.95%	3.40%-7.95%	$	3,167,559	$	3,141,843
I&M	2012-2037	6.24%	5.05%-7.00%	5.05%-7.00%		1,171,080		1,270,599
OPCo	2012-2035	5.84%	4.85%-6.60%	0.955%-6.60%		3,142,615		3,291,823
PSO	2016-2037	5.52%	4.40%-6.625%	4.40%-6.625%		896,364		896,023
SWEPCo	2015-2040	5.56%	3.55%-6.45%	4.90%-6.45%		1,822,653		1,548,437

Pollution Control Bonds (a)
APCo	2012-2038 (b)	2.01%	0.12%-5.375%	0.07%-6.05%		532,500		582,000
I&M	2012-2025 (b)	4.03%	0.11%-6.25%	0.06%-6.25%		266,531		266,494
OPCo	2012-2038 (b)	3.72%	0.13%-5.80%	0.07%-5.80%		517,825		562,325
PSO	2014-2020	5.03%	4.45%-5.25%	4.45%-5.25%		46,360		46,360
SWEPCo	2015-2018	4.28%	3.25%-4.95%	3.25%-4.95%		135,200		135,200

Notes Payable - Affiliated
OPCo	2015	5.25%	5.25%	5.25%		200,000		200,000

Notes Payable - Nonaffiliated
I&M	2013-2016	2.42%	1.913%-5.44%	2.029%-5.44%		224,376		234,590
SWEPCo	2012-2032	5.09%	4.58%-6.37%	6.37%-7.03%		88,375		45,000

Spent Nuclear Fuel Obligation (c)
I&M						265,249		265,065

Other Long-term Debt
APCo	2026	13.718%	13.718%	13.718%		2,383		2,408
I&M (d)	2015-2025	2.39%	1.72%-6.00%	6.00%		130,430		20,927
PSO	2027	3.00%	3.00%	3.00%		7,147		4,981

(c) Spent nuclear fuel obligation consists of a liability along with accrued interest for disposal of spent nuclear fuel (see “SNF Disposal” section of Note 4).

(d) In 2012, I&M issued a $110 million three-year credit facility to be used for general corporate purposes.

Long-term Debt 5-Year Maturity

		APCo		I&M		OPCo		PSO		SWEPCo
		(in thousands)
2013		$	574,679	$	203,953	$	856,000	$	764	$	3,250
2014			100,033		353,946		403,580		34,115		3,250
2015			500,038		253,730		286,000		427		306,750
2016			65,393		4,158		350,000		150,440		3,250
2017			250,049		1,479		-		454		253,250
After 2017			2,219,692		1,244,789		1,972,245		767,307		1,478,825
Principal Amount			3,709,884		2,062,055		3,867,825		953,507		2,048,575
Unamortized Discount, Net			(7,442)		(4,389)		(7,385)		(3,636)		(2,347)
Total Long-term Debt
	Outstanding	$	3,702,442	$	2,057,666	$	3,860,440	$	949,871	$	2,046,228

Utility Money Pool Participants' Money Pool Activity and Authorized Borrowing Limits

									Net
									Loans
	Maximum		Maximum		Average		Average		(Borrowings)		Authorized
	Borrowings		Loans		Borrowings		Loans		to/from Utility		Short-term
	from Utility		to Utility		from Utility		to Utility		Money Pool as of		Borrowing
Company	Money Pool		Money Pool		Money Pool		Money Pool		December 31, 2012		Limit
	(in thousands)
APCo	$	350,153	$	23,504	$	161,363	$	22,821	$	(150,941)	$	600,000
I&M		-		362,733		-		202,439		116,977		500,000
OPCo		126,975		290,356		47,820		105,154		116,422		600,000
PSO		-		177,778		-		92,697		10,558		300,000
SWEPCo		227,087		173,778		147,338		78,994		153,829		350,000

									Net
									Loans
	Maximum		Maximum		Average		Average		(Borrowings)		Authorized
	Borrowings		Loans		Borrowings		Loans		to/from Utility		Short-term
	from Utility		to Utility		from Utility		to Utility		Money Pool as of		Borrowing
Company	Money Pool		Money Pool		Money Pool		Money Pool		December 31, 2011		Limit
	(in thousands)
APCo	$	217,876	$	393,811	$	117,378	$	96,186	$	(176,240)	$	600,000
I&M		57,352		219,386		23,793		56,999		95,714		500,000
OPCo		46,761		452,187		31,365		225,728		219,458		600,000
PSO		96,034		255,611		41,971		88,805		39,876		300,000
SWEPCo		136,752		105,184		47,232		38,798		(132,473)		350,000

Maximum and Minimum Interest Rates for Funds Either Borrowed from or Loaned to Utility Money Pool

	Years Ended December 31,
	2012		2011		2010
Maximum Interest Rate	0.56	%	0.56	%	0.55	%
Minimum Interest Rate	0.39	%	0.06	%	0.09	%

Average Interest Rates for Funds Borrowed from and Loaned to Utility Money Pool

	Average Interest Rate						Average Interest Rate
	for Funds Borrowed						for Funds Loaned
	from Utility Money Pool for						to Utility Money Pool for
	Years Ended December 31,						Years Ended December 31,
Company	2012		2011		2010		2012		2011		2010
APCo	0.47	%	0.42	%	0.26	%	0.47	%	0.32	%	-	%
I&M	-	%	0.39	%	0.43	%	0.46	%	0.38	%	0.24	%
OPCo	0.47	%	0.45	%	-	%	0.47	%	0.35	%	0.22	%
PSO	-	%	0.41	%	0.31	%	0.46	%	0.32	%	0.17	%
SWEPCo	0.53	%	0.40	%	0.19	%	0.45	%	0.33	%	0.27	%

Interest Expense Incurred by Registrant Subsidiaries' for amounts borrowed from the Utility Money Pool

	Years Ended December 31,
Company	2012		2011		2010
			(in thousands)
APCo	$	772	$	198	$	611
I&M		-		20		17
OPCo		555		12		16
PSO		11		85		102
SWEPCo		977		174		11

Interest Income Earned by Registrant Subsidiaries' for Amounts Advanced to the Utility Money Pool

	Years Ended December 31,
Company	2012		2011		2010
			(in thousands)
APCo	$	123	$	313	$	9
I&M		963		226		219
OPCo		1,038		820		708
PSO		435		250		19
SWEPCo		320		32		438

Accounts Receivable and Accrued Unbilled Revenues

	December 31,
Company	2012		2011
	(in thousands)
APCo	$	153,719	$	121,605
I&M		123,447		121,597
OPCo		300,675		346,695
PSO		85,530		123,172
SWEPCo		132,449		140,440

Fees Paid to AEP Credit for Customer Accounts Receivable Sold

	Years Ended December 31,
Company	2012		2011		2010
	(in thousands)
APCo	$	6,883	$	9,612	$	9,194
I&M		6,121		6,168		6,770
OPCo		20,312		18,851		20,630
PSO		7,054		6,363		5,406
SWEPCo		6,140		5,672		5,688

Proceeds on Sale of Receivables to AEP Credit

	Years Ended December 31,
Company	2012		2011		2010
	(in thousands)
APCo	$	1,353,920	$	1,248,253	$	1,418,487
I&M		1,344,260		1,323,068		1,283,955
OPCo		2,952,723		3,461,758		3,495,609
PSO		1,157,174		1,299,190		1,196,586
SWEPCo		1,481,925		1,495,397		1,402,525

Public Service Co of Oklahoma [Member]

Preferred Stock

	Par Value of		Loss on
Company	Stock Redeemed		Redemption
		(in thousands)
APCo	$	17,736	$	1,013
I&M		8,072		314
OPCo		16,613		488
PSO		4,882		254
SWEPCo		4,694		369

			Number of Shares Redeemed
			Years Ended December 31,
Company	Series		2011	2010
APCo	4.50	%	177,465	53
I&M	4.12	%	11,055	-
I&M	4.125	%	55,257	44
I&M	4.56	%	14,412	-
OPCo	4.08	%	14,495	100
OPCo	4.20	%	22,824	-
OPCo	4.40	%	31,482	-
OPCo	4.50	%	97,357	6
PSO	4.00	%	44,508	-
PSO	4.24	%	4,310	3,759
SWEPCo	4.28	%	7,386	-
SWEPCo	4.65	%	1,907	-
SWEPCo	5.00	%	37,665	8

Long-term Debt

		Weighted
		Average
		Interest
		Rate as of			Outstanding as of
		December 31,	Interest Rate Ranges as of December 31,		December 31,
Company	Maturity	2012	2012	2011	2012		2011
Senior Unsecured Notes					(in thousands)
APCo	2012-2038	5.43%	0.685%-7.95%	3.40%-7.95%	$	3,167,559	$	3,141,843
I&M	2012-2037	6.24%	5.05%-7.00%	5.05%-7.00%		1,171,080		1,270,599
OPCo	2012-2035	5.84%	4.85%-6.60%	0.955%-6.60%		3,142,615		3,291,823
PSO	2016-2037	5.52%	4.40%-6.625%	4.40%-6.625%		896,364		896,023
SWEPCo	2015-2040	5.56%	3.55%-6.45%	4.90%-6.45%		1,822,653		1,548,437

Pollution Control Bonds (a)
APCo	2012-2038 (b)	2.01%	0.12%-5.375%	0.07%-6.05%		532,500		582,000
I&M	2012-2025 (b)	4.03%	0.11%-6.25%	0.06%-6.25%		266,531		266,494
OPCo	2012-2038 (b)	3.72%	0.13%-5.80%	0.07%-5.80%		517,825		562,325
PSO	2014-2020	5.03%	4.45%-5.25%	4.45%-5.25%		46,360		46,360
SWEPCo	2015-2018	4.28%	3.25%-4.95%	3.25%-4.95%		135,200		135,200

Notes Payable - Affiliated
OPCo	2015	5.25%	5.25%	5.25%		200,000		200,000

Notes Payable - Nonaffiliated
I&M	2013-2016	2.42%	1.913%-5.44%	2.029%-5.44%		224,376		234,590
SWEPCo	2012-2032	5.09%	4.58%-6.37%	6.37%-7.03%		88,375		45,000

Spent Nuclear Fuel Obligation (c)
I&M						265,249		265,065

Other Long-term Debt
APCo	2026	13.718%	13.718%	13.718%		2,383		2,408
I&M (d)	2015-2025	2.39%	1.72%-6.00%	6.00%		130,430		20,927
PSO	2027	3.00%	3.00%	3.00%		7,147		4,981

(c) Spent nuclear fuel obligation consists of a liability along with accrued interest for disposal of spent nuclear fuel (see “SNF Disposal” section of Note 4).

(d) In 2012, I&M issued a $110 million three-year credit facility to be used for general corporate purposes.

Long-term Debt 5-Year Maturity

		APCo		I&M		OPCo		PSO		SWEPCo
		(in thousands)
2013		$	574,679	$	203,953	$	856,000	$	764	$	3,250
2014			100,033		353,946		403,580		34,115		3,250
2015			500,038		253,730		286,000		427		306,750
2016			65,393		4,158		350,000		150,440		3,250
2017			250,049		1,479		-		454		253,250
After 2017			2,219,692		1,244,789		1,972,245		767,307		1,478,825
Principal Amount			3,709,884		2,062,055		3,867,825		953,507		2,048,575
Unamortized Discount, Net			(7,442)		(4,389)		(7,385)		(3,636)		(2,347)
Total Long-term Debt
	Outstanding	$	3,702,442	$	2,057,666	$	3,860,440	$	949,871	$	2,046,228

Utility Money Pool Participants' Money Pool Activity and Authorized Borrowing Limits

									Net
									Loans
	Maximum		Maximum		Average		Average		(Borrowings)		Authorized
	Borrowings		Loans		Borrowings		Loans		to/from Utility		Short-term
	from Utility		to Utility		from Utility		to Utility		Money Pool as of		Borrowing
Company	Money Pool		Money Pool		Money Pool		Money Pool		December 31, 2012		Limit
	(in thousands)
APCo	$	350,153	$	23,504	$	161,363	$	22,821	$	(150,941)	$	600,000
I&M		-		362,733		-		202,439		116,977		500,000
OPCo		126,975		290,356		47,820		105,154		116,422		600,000
PSO		-		177,778		-		92,697		10,558		300,000
SWEPCo		227,087		173,778		147,338		78,994		153,829		350,000

									Net
									Loans
	Maximum		Maximum		Average		Average		(Borrowings)		Authorized
	Borrowings		Loans		Borrowings		Loans		to/from Utility		Short-term
	from Utility		to Utility		from Utility		to Utility		Money Pool as of		Borrowing
Company	Money Pool		Money Pool		Money Pool		Money Pool		December 31, 2011		Limit
	(in thousands)
APCo	$	217,876	$	393,811	$	117,378	$	96,186	$	(176,240)	$	600,000
I&M		57,352		219,386		23,793		56,999		95,714		500,000
OPCo		46,761		452,187		31,365		225,728		219,458		600,000
PSO		96,034		255,611		41,971		88,805		39,876		300,000
SWEPCo		136,752		105,184		47,232		38,798		(132,473)		350,000

Maximum and Minimum Interest Rates for Funds Either Borrowed from or Loaned to Utility Money Pool

	Years Ended December 31,
	2012		2011		2010
Maximum Interest Rate	0.56	%	0.56	%	0.55	%
Minimum Interest Rate	0.39	%	0.06	%	0.09	%

Average Interest Rates for Funds Borrowed from and Loaned to Utility Money Pool

	Average Interest Rate						Average Interest Rate
	for Funds Borrowed						for Funds Loaned
	from Utility Money Pool for						to Utility Money Pool for
	Years Ended December 31,						Years Ended December 31,
Company	2012		2011		2010		2012		2011		2010
APCo	0.47	%	0.42	%	0.26	%	0.47	%	0.32	%	-	%
I&M	-	%	0.39	%	0.43	%	0.46	%	0.38	%	0.24	%
OPCo	0.47	%	0.45	%	-	%	0.47	%	0.35	%	0.22	%
PSO	-	%	0.41	%	0.31	%	0.46	%	0.32	%	0.17	%
SWEPCo	0.53	%	0.40	%	0.19	%	0.45	%	0.33	%	0.27	%

Interest Expense Incurred by Registrant Subsidiaries' for amounts borrowed from the Utility Money Pool

	Years Ended December 31,
Company	2012		2011		2010
			(in thousands)
APCo	$	772	$	198	$	611
I&M		-		20		17
OPCo		555		12		16
PSO		11		85		102
SWEPCo		977		174		11

Interest Income Earned by Registrant Subsidiaries' for Amounts Advanced to the Utility Money Pool

	Years Ended December 31,
Company	2012		2011		2010
			(in thousands)
APCo	$	123	$	313	$	9
I&M		963		226		219
OPCo		1,038		820		708
PSO		435		250		19
SWEPCo		320		32		438

Accounts Receivable and Accrued Unbilled Revenues

	December 31,
Company	2012		2011
	(in thousands)
APCo	$	153,719	$	121,605
I&M		123,447		121,597
OPCo		300,675		346,695
PSO		85,530		123,172
SWEPCo		132,449		140,440

Fees Paid to AEP Credit for Customer Accounts Receivable Sold

	Years Ended December 31,
Company	2012		2011		2010
	(in thousands)
APCo	$	6,883	$	9,612	$	9,194
I&M		6,121		6,168		6,770
OPCo		20,312		18,851		20,630
PSO		7,054		6,363		5,406
SWEPCo		6,140		5,672		5,688

Proceeds on Sale of Receivables to AEP Credit

	Years Ended December 31,
Company	2012		2011		2010
	(in thousands)
APCo	$	1,353,920	$	1,248,253	$	1,418,487
I&M		1,344,260		1,323,068		1,283,955
OPCo		2,952,723		3,461,758		3,495,609
PSO		1,157,174		1,299,190		1,196,586
SWEPCo		1,481,925		1,495,397		1,402,525

Southwestern Electric Power Co [Member]

Preferred Stock

	Par Value of		Loss on
Company	Stock Redeemed		Redemption
		(in thousands)
APCo	$	17,736	$	1,013
I&M		8,072		314
OPCo		16,613		488
PSO		4,882		254
SWEPCo		4,694		369

			Number of Shares Redeemed
			Years Ended December 31,
Company	Series		2011	2010
APCo	4.50	%	177,465	53
I&M	4.12	%	11,055	-
I&M	4.125	%	55,257	44
I&M	4.56	%	14,412	-
OPCo	4.08	%	14,495	100
OPCo	4.20	%	22,824	-
OPCo	4.40	%	31,482	-
OPCo	4.50	%	97,357	6
PSO	4.00	%	44,508	-
PSO	4.24	%	4,310	3,759
SWEPCo	4.28	%	7,386	-
SWEPCo	4.65	%	1,907	-
SWEPCo	5.00	%	37,665	8

Long-term Debt

		Weighted
		Average
		Interest
		Rate as of			Outstanding as of
		December 31,	Interest Rate Ranges as of December 31,		December 31,
Company	Maturity	2012	2012	2011	2012		2011
Senior Unsecured Notes					(in thousands)
APCo	2012-2038	5.43%	0.685%-7.95%	3.40%-7.95%	$	3,167,559	$	3,141,843
I&M	2012-2037	6.24%	5.05%-7.00%	5.05%-7.00%		1,171,080		1,270,599
OPCo	2012-2035	5.84%	4.85%-6.60%	0.955%-6.60%		3,142,615		3,291,823
PSO	2016-2037	5.52%	4.40%-6.625%	4.40%-6.625%		896,364		896,023
SWEPCo	2015-2040	5.56%	3.55%-6.45%	4.90%-6.45%		1,822,653		1,548,437

Pollution Control Bonds (a)
APCo	2012-2038 (b)	2.01%	0.12%-5.375%	0.07%-6.05%		532,500		582,000
I&M	2012-2025 (b)	4.03%	0.11%-6.25%	0.06%-6.25%		266,531		266,494
OPCo	2012-2038 (b)	3.72%	0.13%-5.80%	0.07%-5.80%		517,825		562,325
PSO	2014-2020	5.03%	4.45%-5.25%	4.45%-5.25%		46,360		46,360
SWEPCo	2015-2018	4.28%	3.25%-4.95%	3.25%-4.95%		135,200		135,200

Notes Payable - Affiliated
OPCo	2015	5.25%	5.25%	5.25%		200,000		200,000

Notes Payable - Nonaffiliated
I&M	2013-2016	2.42%	1.913%-5.44%	2.029%-5.44%		224,376		234,590
SWEPCo	2012-2032	5.09%	4.58%-6.37%	6.37%-7.03%		88,375		45,000

Spent Nuclear Fuel Obligation (c)
I&M						265,249		265,065

Other Long-term Debt
APCo	2026	13.718%	13.718%	13.718%		2,383		2,408
I&M (d)	2015-2025	2.39%	1.72%-6.00%	6.00%		130,430		20,927
PSO	2027	3.00%	3.00%	3.00%		7,147		4,981

(c) Spent nuclear fuel obligation consists of a liability along with accrued interest for disposal of spent nuclear fuel (see “SNF Disposal” section of Note 4).

(d) In 2012, I&M issued a $110 million three-year credit facility to be used for general corporate purposes.

Long-term Debt 5-Year Maturity

		APCo		I&M		OPCo		PSO		SWEPCo
		(in thousands)
2013		$	574,679	$	203,953	$	856,000	$	764	$	3,250
2014			100,033		353,946		403,580		34,115		3,250
2015			500,038		253,730		286,000		427		306,750
2016			65,393		4,158		350,000		150,440		3,250
2017			250,049		1,479		-		454		253,250
After 2017			2,219,692		1,244,789		1,972,245		767,307		1,478,825
Principal Amount			3,709,884		2,062,055		3,867,825		953,507		2,048,575
Unamortized Discount, Net			(7,442)		(4,389)		(7,385)		(3,636)		(2,347)
Total Long-term Debt
	Outstanding	$	3,702,442	$	2,057,666	$	3,860,440	$	949,871	$	2,046,228

Utility Money Pool Participants' Money Pool Activity and Authorized Borrowing Limits

									Net
									Loans
	Maximum		Maximum		Average		Average		(Borrowings)		Authorized
	Borrowings		Loans		Borrowings		Loans		to/from Utility		Short-term
	from Utility		to Utility		from Utility		to Utility		Money Pool as of		Borrowing
Company	Money Pool		Money Pool		Money Pool		Money Pool		December 31, 2012		Limit
	(in thousands)
APCo	$	350,153	$	23,504	$	161,363	$	22,821	$	(150,941)	$	600,000
I&M		-		362,733		-		202,439		116,977		500,000
OPCo		126,975		290,356		47,820		105,154		116,422		600,000
PSO		-		177,778		-		92,697		10,558		300,000
SWEPCo		227,087		173,778		147,338		78,994		153,829		350,000

									Net
									Loans
	Maximum		Maximum		Average		Average		(Borrowings)		Authorized
	Borrowings		Loans		Borrowings		Loans		to/from Utility		Short-term
	from Utility		to Utility		from Utility		to Utility		Money Pool as of		Borrowing
Company	Money Pool		Money Pool		Money Pool		Money Pool		December 31, 2011		Limit
	(in thousands)
APCo	$	217,876	$	393,811	$	117,378	$	96,186	$	(176,240)	$	600,000
I&M		57,352		219,386		23,793		56,999		95,714		500,000
OPCo		46,761		452,187		31,365		225,728		219,458		600,000
PSO		96,034		255,611		41,971		88,805		39,876		300,000
SWEPCo		136,752		105,184		47,232		38,798		(132,473)		350,000

Maximum and Minimum Interest Rates for Funds Either Borrowed from or Loaned to Utility Money Pool

	Years Ended December 31,
	2012		2011		2010
Maximum Interest Rate	0.56	%	0.56	%	0.55	%
Minimum Interest Rate	0.39	%	0.06	%	0.09	%

Average Interest Rates for Funds Borrowed from and Loaned to Utility Money Pool

	Average Interest Rate						Average Interest Rate
	for Funds Borrowed						for Funds Loaned
	from Utility Money Pool for						to Utility Money Pool for
	Years Ended December 31,						Years Ended December 31,
Company	2012		2011		2010		2012		2011		2010
APCo	0.47	%	0.42	%	0.26	%	0.47	%	0.32	%	-	%
I&M	-	%	0.39	%	0.43	%	0.46	%	0.38	%	0.24	%
OPCo	0.47	%	0.45	%	-	%	0.47	%	0.35	%	0.22	%
PSO	-	%	0.41	%	0.31	%	0.46	%	0.32	%	0.17	%
SWEPCo	0.53	%	0.40	%	0.19	%	0.45	%	0.33	%	0.27	%

Interest Expense Incurred by Registrant Subsidiaries' for amounts borrowed from the Utility Money Pool

	Years Ended December 31,
Company	2012		2011		2010
			(in thousands)
APCo	$	772	$	198	$	611
I&M		-		20		17
OPCo		555		12		16
PSO		11		85		102
SWEPCo		977		174		11

Interest Income Earned by Registrant Subsidiaries' for Amounts Advanced to the Utility Money Pool

	Years Ended December 31,
Company	2012		2011		2010
			(in thousands)
APCo	$	123	$	313	$	9
I&M		963		226		219
OPCo		1,038		820		708
PSO		435		250		19
SWEPCo		320		32		438

Lines of Credit and Short-term Debt

Short-term Debt

The Registrant Subsidiaries’ outstanding short-term debt was as follows:

December 31,

2012

2011

Outstanding

Interest

Outstanding

Interest

Company

Type of Debt

Amount

Rate (a)

Amount

Rate (a)

(in thousands)

SWEPCo

Line of Credit – Sabine

2,603

1.82

17,016

1.79

(a)

Weighted average rate.

Accounts Receivable and Accrued Unbilled Revenues

	December 31,
Company	2012		2011
	(in thousands)
APCo	$	153,719	$	121,605
I&M		123,447		121,597
OPCo		300,675		346,695
PSO		85,530		123,172
SWEPCo		132,449		140,440

Fees Paid to AEP Credit for Customer Accounts Receivable Sold

	Years Ended December 31,
Company	2012		2011		2010
	(in thousands)
APCo	$	6,883	$	9,612	$	9,194
I&M		6,121		6,168		6,770
OPCo		20,312		18,851		20,630
PSO		7,054		6,363		5,406
SWEPCo		6,140		5,672		5,688

Proceeds on Sale of Receivables to AEP Credit

	Years Ended December 31,
Company	2012		2011		2010
	(in thousands)
APCo	$	1,353,920	$	1,248,253	$	1,418,487
I&M		1,344,260		1,323,068		1,283,955
OPCo		2,952,723		3,461,758		3,495,609
PSO		1,157,174		1,299,190		1,196,586
SWEPCo		1,481,925		1,495,397		1,402,525