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Benefit Plans (Tables)
 12 Months Ended
Dec. 31, 2014
Health Care Trend Rates
Health Care Trend Rates
 
2014
 
2013
Initial
 
6.50
%
 
6.75
%
Ultimate
 
5.00
%
 
5.00
%
Year Ultimate Reached
 
2020

 
2020
Effect of a 1% Change in Assumed Health Care Cost Trend Rates for the OPEB Health Care Plans
 
 
1% Increase
 
1% Decrease
 
 
(in millions)
Effect on Total Service and Interest Cost Components of Net Periodic Postretirement Health Care Benefit Cost
 
$
4

 
$
(3
)
 
 
 
 
 
Effect on the Health Care Component of the Accumulated Postretirement Benefit Obligation
 
77

 
(60
)
Reconciliation of Changes in Benefit Obligations and Fair Value of Assets
 
 
Pension Plans
 
Other Postretirement
 Benefit Plans
 
 
2014
 
2013
 
2014
 
2013
Change in Benefit Obligation
 
(in millions)
Benefit Obligation as of January 1,
 
$
4,841

 
$
5,205

 
$
1,456

 
$
1,849

Service Cost
 
72

 
69

 
14

 
23

Interest Cost
 
221

 
203

 
67

 
71

Actuarial (Gain) Loss
 
387

 
(305
)
 
(14
)
 
(395
)
Benefit Payments
 
(296
)
 
(331
)
 
(134
)
 
(140
)
Participant Contributions
 
—

 
—

 
42

 
39

Medicare Subsidy
 
—

 
—

 
8

 
9

Benefit Obligation as of December 31,
 
$
5,225

 
$
4,841

 
$
1,439

 
$
1,456

 
 
 
 
 
 
 
 
 
Change in Fair Value of Plan Assets
 
 
 
 
 
 
 
 
Fair Value of Plan Assets as of January 1,
 
$
4,711

 
$
4,696

 
$
1,699

 
$
1,568

Actual Gain on Plan Assets
 
474

 
340

 
83

 
208

Company Contributions
 
79

 
6

 
4

 
24

Participant Contributions
 
—

 
—

 
42

 
39

Benefit Payments
 
(296
)
 
(331
)
 
(134
)
 
(140
)
Fair Value of Plan Assets as of December 31,
 
$
4,968

 
$
4,711

 
$
1,694

 
$
1,699

 
 
 
 
 
 
 
 
 
Funded (Underfunded) Status as of December 31,
 
$
(257
)
 
$
(130
)
 
$
255

 
$
243
Benefit Amounts Recognized on the Balance Sheets
Amounts Recognized on the Balance Sheets as of December 31, 2014 and 2013
 
 
Pension Plans
 
Other Postretirement
Benefit Plans
 
 
December 31,
 
 
2014
 
2013
 
2014
 
2013
 
 
(in millions)
Deferred Charges and Other Noncurrent Assets – Prepaid Benefit Costs
 
$
—

 
$
—

 
$
337

 
$
264

Other Current Liabilities – Accrued Short-term Benefit Liability
 
(6
)
 
(7
)
 
(4
)
 
(4
)
Employee Benefits and Pension Obligations – Accrued Long-term Benefit Liability
 
(251
)
 
(123
)
 
(78
)
 
(17
)
Funded (Underfunded) Status
 
$
(257
)
 
$
(130
)
 
$
255

 
$
243
Amounts Included in AOCI and Regulatory Assets
Amounts Included in AOCI and Regulatory Assets as of December 31, 2014 and 2013
 
 
Pension Plans
 
Other Postretirement
Benefit Plans
 
 
December 31,
 
 
2014
 
2013
 
2014
 
2013
Components
 
(in millions)
Net Actuarial Loss
 
$
1,612

 
$
1,561

 
$
420

 
$
428

Prior Service Cost (Credit)
 
5

 
8

 
(624
)
 
(693
)
 
 
 
 
 
 
 
 
 
Recorded as
 
 
 
 
 
 
 
 
Regulatory Assets
 
$
1,418

 
$
1,343

 
$
(149
)
 
$
(191
)
Deferred Income Taxes
 
70

 
79

 
(19
)
 
(26
)
Net of Tax AOCI
 
129

 
147

 
(36
)
 
(48
)
Components of Change in Amounts Included in AOCI and Regulatory Assets
 
 
Pension Plans
 
Other Postretirement
Benefit Plans
 
 
Years Ended December 31,
 
 
2014
 
2013
 
2014
 
2013
Components
 
(in millions)
Actuarial (Gain) Loss During the Year
 
$
175

 
$
(367
)
 
$
14

 
$
(496
)
Amortization of Actuarial Loss
 
(124
)
 
(183
)
 
(22
)
 
(65
)
Amortization of Prior Service Credit (Cost)
 
(3
)
 
(3
)
 
69

 
69

Change for the Year
 
$
48

 
$
(553
)
 
$
61

 
$
(492
)
Accumulated Benefit Obligation
 
 
December 31,
Accumulated Benefit Obligation
 
2014
 
2013
 
 
(in millions)
Qualified Pension Plan
 
$
4,982

 
$
4,638

Nonqualified Pension Plans
 
76

 
77

Total
 
$
5,058

 
$
4,715
Underfunded Accumulated Benefit Obligation
 
 
Underfunded Pension Plans
 
 
December 31,
 
 
2014
 
2013
 
 
(in millions)
Projected Benefit Obligation
 
$
5,225

 
$
4,841

 
 
 
 
 
Accumulated Benefit Obligation
 
$
5,058

 
$
4,715

Fair Value of Plan Assets
 
4,968

 
4,711

Underfunded Accumulated Benefit Obligation
 
$
(90
)
 
$
(4
)
Estimated Payments Expected to be Made by the Pension and OPEB Plans
 
 
Pension Plans
 
Other Postretirement Benefit Plans
 
 
Pension
Payments
 
Benefit
Payments
 
Medicare Subsidy
Receipts
 
 
(in millions)
2015
 
$
315

 
$
129

 
$
—

2016
 
323

 
129

 
—

2017
 
334

 
130

 
—

2018
 
341

 
132

 
—

2019
 
350

 
132

 
—

Years 2020 to 2024, in Total
 
1,822

 
688

 
2
Components of Net Periodic Benefit Cost
 
 
Pension Plans
 
Other Postretirement
Benefit Plans
 
 
Years Ended December 31,
 
 
2014
 
2013
 
2012
 
2014
 
2013
 
2012
 
 
(in millions)
Service Cost
 
$
72

 
$
69

 
$
76

 
$
14

 
$
23

 
$
47

Interest Cost
 
221

 
203

 
223

 
67

 
71

 
103

Expected Return on Plan Assets
 
(262
)
 
(278
)
 
(319
)
 
(111
)
 
(107
)
 
(101
)
Amortization of Transition Obligation
 
—

 
—

 
—

 
—

 
—

 
1

Amortization of Prior Service Cost (Credit)
 
3

 
3

 
(1
)
 
(69
)
 
(69
)
 
(18
)
Amortization of Net Actuarial Loss
 
124

 
183

 
155

 
22

 
65

 
57

Net Periodic Benefit Cost (Credit)
 
158

 
180

 
134

 
(77
)
 
(17
)
 
89

Capitalized Portion
 
(52
)
 
(56
)
 
(42
)
 
25

 
5

 
(28
)
Net Periodic Benefit Cost (Credit) Recognized in Expense
 
$
106

 
$
124

 
$
92

 
$
(52
)
 
$
(12
)
 
$
61
Estimated Amounts to be Amortized to Net Periodic Benefit Costs
 
 
Pension Plans
 
Other
Postretirement
Benefit Plans
Components
 
(in millions)
Net Actuarial Loss
 
$
108

 
$
17

Prior Service Cost (Credit)
 
2

 
(69
)
Total Estimated 2015 Amortization
 
$
110

 
$
(52
)
 
 
 
 
 
Expected to be Recorded as
 
 
 
 
Regulatory Asset
 
$
94

 
$
(38
)
Deferred Income Taxes
 
6

 
(5
)
Net of Tax AOCI
 
10

 
(9
)
Total
 
$
110

 
$
(52
)
Appalachian Power Co [Member]  
Health Care Trend Rates
Health Care Trend Rates
 
2014
 
2013
Initial
 
6.50
%
 
6.75
%
Ultimate
 
5.00
%
 
5.00
%
Year Ultimate Reached
 
2020

 
2020
Effect of a 1% Change in Assumed Health Care Cost Trend Rates for the OPEB Health Care Plans
 
 
APCo
 
I&M
 
OPCo
 
PSO
 
SWEPCo
 
 
(in thousands)
Effect on Total Service and Interest Cost Components of Net Periodic Postretirement Health Care Benefit Cost:
 
 
 
 
 
 
 
 
 
 
1% Increase
 
$
902

 
$
343

 
$
308

 
$
158

 
$
179

1% Decrease
 
(691
)
 
(264
)
 
(237
)
 
(121
)
 
(138
)
 
 
 
 
 
 
 
 
 
 
 
Effect on the Health Care Component of the Accumulated Postretirement Benefit Obligation:
 
 
 
 
 
 
 
 
 
 
1% Increase
 
$
17,260

 
$
7,117

 
$
7,251

 
$
3,377

 
$
3,742

1% Decrease
 
(13,614
)
 
(5,630
)
 
(5,736
)
 
(2,671
)
 
(2,960
)
Reconciliation of Changes in Benefit Obligations and Fair Value of Assets
APCo
 
Pension Plans
 
Other Postretirement
Benefit Plans
 
 
2014
 
2013
 
2014
 
2013
Change in Benefit Obligation
 
(in thousands)
Benefit Obligation as of January 1,
 
$
663,231

 
$
718,460

 
$
279,884

 
$
348,990

Service Cost
 
7,036

 
6,171

 
1,448

 
2,566

Interest Cost
 
29,624

 
27,662

 
12,788

 
13,454

Actuarial (Gain) Loss
 
41,671

 
(45,619
)
 
(8,975
)
 
(66,056
)
Benefit Payments
 
(38,757
)
 
(43,443
)
 
(26,584
)
 
(27,220
)
Participant Contributions
 
—

 
—

 
7,196

 
6,600

Medicare Subsidy
 
—

 
—

 
1,391

 
1,550

Benefit Obligation as of December 31,
 
$
702,805

 
$
663,231

 
$
267,148

 
$
279,884

 
 
 
 
 
 
 
 
 
Change in Fair Value of Plan Assets
 
 
 
 
 
 
 
 
Fair Value of Plan Assets as of January 1,
 
$
627,995

 
$
621,570

 
$
284,840

 
$
267,758

Actual Gain on Plan Assets
 
44,052

 
49,832

 
11,836

 
34,289

Company Contributions
 
8,999

 
36

 
3,345

 
3,413

Participant Contributions
 
—

 
—

 
7,196

 
6,600

Benefit Payments
 
(38,757
)
 
(43,443
)
 
(26,584
)
 
(27,220
)
Fair Value of Plan Assets as of December 31,
 
$
642,289

 
$
627,995

 
$
280,633

 
$
284,840

 
 
 
 
 
 
 
 
 
Funded (Underfunded) Status as of December 31,
 
$
(60,516
)
 
$
(35,236
)
 
$
13,485

 
$
4,956
Benefit Amounts Recognized on the Balance Sheets
 
 
Pension Plans
 
Other Postretirement
Benefit Plans
 
 
December 31,
APCo
 
2014
 
2013
 
2014
 
2013
 
 
(in thousands)
Deferred Charges and Other Noncurrent Assets – Prepaid Benefit Costs
 
$
—

 
$
—

 
$
56,498

 
$
27,945

Other Current Liabilities – Accrued Short-term Benefit Liability
 
(39
)
 
(34
)
 
(2,884
)
 
(2,970
)
Employee Benefits and Pension Obligations – Accrued Long-term Benefit Liability
 
(60,477
)
 
(35,202
)
 
(40,129
)
 
(20,019
)
Funded (Underfunded) Status
 
$
(60,516
)
 
$
(35,236
)
 
$
13,485

 
$
4,956
Amounts Included in AOCI and Regulatory Assets
APCo
 
Pension Plans
 
Other Postretirement
Benefit Plans
 
 
December 31,
 
 
2014
 
2013
 
2014
 
2013
Components
 
(in thousands)
Net Actuarial Loss
 
$
235,000

 
$
220,047

 
$
65,841

 
$
72,732

Prior Service Cost (Credit)
 
523

 
720

 
(90,626
)
 
(100,676
)
 
 
 
 
 
 
 
 
 
Recorded as
 
 
 
 
 
 
 
 
Regulatory Assets
 
$
232,815

 
$
217,937

 
$
(20,330
)
 
$
(25,473
)
Deferred Income Taxes
 
948

 
991

 
(1,559
)
 
(865
)
Net of Tax AOCI
 
1,760

 
1,839

 
(2,896
)
 
(1,606
)
Components of Change in Amounts Included in AOCI and Regulatory Assets
Pension Plans – Components
 
APCo
 
I&M
 
OPCo
 
PSO
 
SWEPCo
 
 
(in thousands)
Actuarial Loss During the Year
 
$
31,546

 
$
14,163

 
$
11,509

 
$
15,706

 
$
16,457

Amortization of Actuarial Loss
 
(16,593
)
 
(14,585
)
 
(12,422
)
 
(6,753
)
 
(7,046
)
Amortization of Prior Service Cost
 
(197
)
 
(195
)
 
(157
)
 
(296
)
 
(349
)
Change for the Year Ended December 31, 2014
 
$
14,756

 
$
(617
)
 
$
(1,070
)
 
$
8,657

 
$
9,062


Pension Plans – Components
 
APCo
 
I&M
 
OPCo
 
PSO
 
SWEPCo
 
 
(in thousands)
Actuarial Gain During the Year
 
$
(58,411
)
 
$
(51,388
)
 
$
(253,392
)
 
$
(19,599
)
 
$
(16,133
)
Amortization of Actuarial Loss
 
(25,025
)
 
(21,688
)
 
(19,833
)
 
(9,845
)
 
(10,214
)
Amortization of Prior Service Cost
 
(198
)
 
(195
)
 
(157
)
 
(297
)
 
(349
)
Change for the Year Ended December 31, 2013
 
$
(83,634
)
 
$
(73,271
)
 
$
(273,382
)
 
$
(29,741
)
 
$
(26,696
)
Other Postretirement Benefit Plans –
Components
 
APCo
 
I&M
 
OPCo
 
PSO
 
SWEPCo
 
 
(in thousands)
Actuarial (Gain) Loss During the Year
 
$
(2,309
)
 
$
1,863

 
$
3,226

 
$
639

 
$
840

Amortization of Actuarial Loss
 
(4,582
)
 
(2,368
)
 
(2,379
)
 
(1,109
)
 
(1,235
)
Amortization of Prior Service Credit
 
10,050

 
9,421

 
6,923

 
4,290

 
5,156

Change for the Year Ended December 31, 2014
 
$
3,159

 
$
8,916

 
$
7,770

 
$
3,820

 
$
4,761

Other Postretirement Benefit Plans –
Components
 
APCo
 
I&M
 
OPCo
 
PSO
 
SWEPCo
 
 
(in thousands)
Actuarial Gain During the Year
 
$
(82,192
)
 
$
(63,460
)
 
$
(111,922
)
 
$
(27,305
)
 
$
(30,523
)
Amortization of Actuarial Loss
 
(12,249
)
 
(7,526
)
 
(8,633
)
 
(3,476
)
 
(3,928
)
Amortization of Prior Service Credit
 
10,050

 
9,421

 
6,962

 
4,289

 
5,156

Change for the Year Ended December 31, 2013
 
$
(84,391
)
 
$
(61,565
)
 
$
(113,593
)
 
$
(26,492
)
 
$
(29,295
)
Accumulated Benefit Obligation
Accumulated Benefit Obligation
 
APCo
 
I&M
 
OPCo
 
PSO
 
SWEPCo
 
 
(in thousands)
Qualified Pension Plan
 
$
688,632

 
$
598,190

 
$
512,467

 
$
270,059

 
$
281,210

Nonqualified Pension Plans
 
464

 
470

 
69

 
2,750

 
1,749

Total as of December 31, 2014
 
$
689,096

 
$
598,660

 
$
512,536

 
$
272,809

 
$
282,959

 
 
 
 
 
 
 
 
 
 
 
Accumulated Benefit Obligation
 
APCo
 
I&M
 
OPCo
 
PSO
 
SWEPCo
 
 
(in thousands)
Qualified Pension Plan
 
$
653,968

 
$
560,443

 
$
512,798

 
$
248,472

 
$
256,083

Nonqualified Pension Plans
 
200

 
326

 
6

 
1,387

 
1,115

Total as of December 31, 2013
 
$
654,168

 
$
560,769

 
$
512,804

 
$
249,859

 
$
257,198
Underfunded Accumulated Benefit Obligation
 
APCo
 
I&M
 
OPCo
 
PSO
 
SWEPCo
 
(in thousands)
Projected Benefit Obligation
$
702,805

 
$
617,948

 
$
526,250

 
$
2,770

 
$
1,790

 
 
 
 
 
 
 
 
 
 
Accumulated Benefit Obligation
$
689,096

 
$
598,660

 
$
512,536

 
$
2,750

 
$
1,749

Fair Value of Plan Assets
642,289

 
591,737

 
498,461

 
—

 
—

Underfunded Accumulated Benefit Obligation as of December 31, 2014
$
(46,807
)
 
$
(6,923
)
 
$
(14,075
)
 
$
(2,750
)
 
$
(1,749
)
 
 
 
 
 
 
 
 
 
 
 
APCo
 
I&M
 
OPCo
 
PSO
 
SWEPCo
 
(in thousands)
Projected Benefit Obligation
$
663,231

 
$
574,699

 
$
523,643

 
$
1,394

 
$
1,124

 
 
 
 
 
 
 
 
 
 
Accumulated Benefit Obligation
$
654,168

 
$
560,769

 
$
512,804

 
$
1,387

 
$
1,115

Fair Value of Plan Assets
627,995

 
559,143

 
501,634

 
—

 
—

Underfunded Accumulated Benefit Obligation as of December 31, 2013
$
(26,173
)
 
$
(1,626
)
 
$
(11,170
)
 
$
(1,387
)
 
$
(1,115
)
Estimated Contributions and Payments to the Pension and OPEB Plans
Company
 
Pension Plans
 
Other Postretirement
Benefit Plans
 
 
(in thousands)
APCo
 
$
11,631

 
$
2,884

I&M
 
12,492

 
—

OPCo
 
7,847

 
—

PSO
 
6,656

 
—

SWEPCo
 
7,840

 
—
Estimated Payments Expected to be Made by the Pension and OPEB Plans
Pension Plans
 
APCo
 
I&M
 
OPCo
 
PSO
 
SWEPCo
 
 
(in thousands)
2015
 
$
42,859

 
$
33,114

 
$
36,277

 
$
18,950

 
$
18,872

2016
 
43,091

 
33,813

 
36,174

 
19,626

 
18,747

2017
 
43,484

 
35,748

 
35,571

 
20,175

 
20,407

2018
 
45,122

 
36,948

 
35,822

 
21,118

 
21,019

2019
 
45,488

 
38,727

 
36,179

 
21,732

 
22,059

Years 2020 to 2024, in Total
 
236,107

 
209,813

 
176,022

 
109,800

 
118,909

 
Other Postretirement Benefit Plans:
Benefit Payments
 
APCo
 
I&M
 
OPCo
 
PSO
 
SWEPCo
 
 
(in thousands)
2015
 
$
24,828

 
$
15,088

 
$
16,379

 
$
6,989

 
$
7,401

2016
 
24,603

 
15,363

 
16,289

 
7,067

 
7,504

2017
 
24,468

 
15,484

 
16,088

 
7,074

 
7,674

2018
 
24,820

 
15,637

 
16,122

 
7,132

 
7,840

2019
 
24,290

 
15,804

 
16,079

 
7,278

 
7,885

Years 2020 to 2024, in Total
 
121,401

 
84,026

 
80,066

 
38,852

 
43,503

Other Postretirement Benefit Plans:
Medicare Subsidy Receipts
 
APCo
 
I&M
 
OPCo
 
PSO
 
SWEPCo
 
 
(in thousands)
2015
 
$
232

 
$
—

 
$
—

 
$
—

 
$
—

2016
 
236

 
—

 
—

 
—

 
—

2017
 
234

 
—

 
—

 
—

 
—

2018
 
231

 
—

 
—

 
—

 
—

2019
 
230

 
—

 
—

 
—

 
—

Years 2020 to 2024, in Total
 
1,080

 
—

 
—

 
—

 
—
Components of Net Periodic Benefit Cost
APCo
Pension Plans
 
Other Postretirement
Benefit Plans
 
Years Ended December 31,
 
2014
 
2013
 
2012
 
2014
 
2013
 
2012
 
(in thousands)
Service Cost
$
7,036

 
$
6,171

 
$
7,565

 
$
1,448

 
$
2,566

 
$
5,387

Interest Cost
29,624

 
27,662

 
30,211

 
12,788

 
13,454

 
18,462

Expected Return on Plan Assets
(33,927
)
 
(37,041
)
 
(41,944
)
 
(18,533
)
 
(18,147
)
 
(16,753
)
Amortization of Transition Obligation
—

 
—

 
—

 
—

 
—

 
780

Amortization of Prior Service Cost (Credit)
197

 
198

 
475

 
(10,050
)
 
(10,050
)
 
(2,862
)
Amortization of Net Actuarial Loss
16,593

 
25,025

 
20,339

 
4,582

 
12,249

 
10,526

Net Periodic Benefit Cost (Credit)
19,523

 
22,015

 
16,646

 
(9,765
)
 
72

 
15,540

Capitalized Portion
(6,819
)
 
(7,529
)
 
(6,525
)
 
3,411

 
(25
)
 
(6,092
)
Net Periodic Benefit Cost (Credit) Recognized in Expense
$
12,704

 
$
14,486

 
$
10,121

 
$
(6,354
)
 
$
47

 
$
9,448
Estimated Amounts to be Amortized to Net Periodic Benefit Costs
 
 
APCo
 
I&M
 
OPCo
 
PSO
 
SWEPCo
Pension Plans – Components
 
(in thousands)
Net Actuarial Loss
 
$
14,457

 
$
12,713

 
$
10,823

 
$
5,891

 
$
6,146

Prior Service Cost
 
180

 
181

 
140

 
252

 
308

Total Estimated 2015 Amortization
 
$
14,637

 
$
12,894

 
$
10,963

 
$
6,143

 
$
6,454

 
 
 
 
 
 
 
 
 
 
 
Pension Plans –
Expected to be Recorded as
 
 
 
 
 
 
 
 
 
 
Regulatory Asset
 
$
14,560

 
$
12,114

 
$
10,963

 
$
6,143

 
$
6,454

Deferred Income Taxes
 
27

 
273

 
—

 
—

 
—

Net of Tax AOCI
 
50

 
507

 
—

 
—

 
—

Total
 
$
14,637

 
$
12,894

 
$
10,963

 
$
6,143

 
$
6,454

 
 
 
 
 
 
 
 
 
 
 
 
 
APCo
 
I&M
 
OPCo
 
PSO
 
SWEPCo
Other Postretirement Benefit Plans –
Components
 
(in thousands)
Net Actuarial Loss
 
$
3,353

 
$
1,814

 
$
1,848

 
$
861

 
$
954

Prior Service Credit
 
(10,050
)
 
(9,421
)
 
(6,922
)
 
(4,290
)
 
(5,156
)
Total Estimated 2015 Amortization
 
$
(6,697
)
 
$
(7,607
)
 
$
(5,074
)
 
$
(3,429
)
 
$
(4,202
)
 
 
 
 
 
 
 
 
 
 
 
Other Postretirement Benefit Plans –
Expected to be Recorded as
 
 
 
 
 
 
 
 
 
 
Regulatory Asset
 
$
(3,693
)
 
$
(6,934
)
 
$
(5,074
)
 
$
(3,429
)
 
$
(2,687
)
Deferred Income Taxes
 
(1,051
)
 
(236
)
 
—

 
—

 
(530
)
Net of Tax AOCI
 
(1,953
)
 
(437
)
 
—

 
—

 
(985
)
Total
 
$
(6,697
)
 
$
(7,607
)
 
$
(5,074
)
 
$
(3,429
)
 
$
(4,202
)
Cost for Matching Contributions to the Retirement Savings Plans
 
 
Year Ended December 31,
Company
 
2014
 
2013
 
2012
 
 
(in thousands)
APCo
 
$
7,280

 
$
7,366

 
$
7,579

I&M
 
10,461

 
10,010

 
9,706

OPCo
 
5,207

 
6,502

 
10,798

PSO
 
4,026

 
3,784

 
3,732

SWEPCo
 
5,272

 
4,970

 
4,890
Indiana Michigan Power Co [Member]  
Health Care Trend Rates
Health Care Trend Rates
 
2014
 
2013
Initial
 
6.50
%
 
6.75
%
Ultimate
 
5.00
%
 
5.00
%
Year Ultimate Reached
 
2020

 
2020
Effect of a 1% Change in Assumed Health Care Cost Trend Rates for the OPEB Health Care Plans
 
 
APCo
 
I&M
 
OPCo
 
PSO
 
SWEPCo
 
 
(in thousands)
Effect on Total Service and Interest Cost Components of Net Periodic Postretirement Health Care Benefit Cost:
 
 
 
 
 
 
 
 
 
 
1% Increase
 
$
902

 
$
343

 
$
308

 
$
158

 
$
179

1% Decrease
 
(691
)
 
(264
)
 
(237
)
 
(121
)
 
(138
)
 
 
 
 
 
 
 
 
 
 
 
Effect on the Health Care Component of the Accumulated Postretirement Benefit Obligation:
 
 
 
 
 
 
 
 
 
 
1% Increase
 
$
17,260

 
$
7,117

 
$
7,251

 
$
3,377

 
$
3,742

1% Decrease
 
(13,614
)
 
(5,630
)
 
(5,736
)
 
(2,671
)
 
(2,960
)
Reconciliation of Changes in Benefit Obligations and Fair Value of Assets
I&M
 
Pension Plans
 
Other Postretirement
Benefit Plans
 
 
2014
 
2013
 
2014
 
2013
Change in Benefit Obligation
 
(in thousands)
Benefit Obligation as of January 1,
 
$
574,699

 
$
618,973

 
$
166,497

 
$
218,553

Service Cost
 
10,068

 
8,736

 
1,947

 
3,219

Interest Cost
 
26,293

 
24,100

 
7,638

 
8,221

Actuarial (Gain) Loss
 
38,466

 
(41,631
)
 
(4,925
)
 
(52,800
)
Benefit Payments
 
(31,578
)
 
(35,479
)
 
(15,730
)
 
(16,613
)
Participant Contributions
 
—

 
—

 
5,168

 
4,745

Medicare Subsidy
 
—

 
—

 
1,064

 
1,172

Benefit Obligation as of December 31,
 
$
617,948

 
$
574,699

 
$
161,659

 
$
166,497

 
 
 
 
 
 
 
 
 
Change in Fair Value of Plan Assets
 
 
 
 
 
 
 
 
Fair Value of Plan Assets as of January 1,
 
$
559,143

 
$
552,026

 
$
206,214

 
$
194,128

Actual Gain on Plan Assets
 
55,295

 
42,584

 
6,664

 
23,844

Company Contributions
 
8,877

 
12

 
92

 
110

Participant Contributions
 
—

 
—

 
5,168

 
4,745

Benefit Payments
 
(31,578
)
 
(35,479
)
 
(15,730
)
 
(16,613
)
Fair Value of Plan Assets as of December 31,
 
$
591,737

 
$
559,143

 
$
202,408

 
$
206,214

 
 
 
 
 
 
 
 
 
Funded (Underfunded) Status as of December 31,
 
$
(26,211
)
 
$
(15,556
)
 
$
40,749

 
$
39,717
Benefit Amounts Recognized on the Balance Sheets
 
 
Pension Plans
 
Other Postretirement
Benefit Plans
 
 
December 31,
I&M
 
2014
 
2013
 
2014
 
2013
 
 
(in thousands)
Deferred Charges and Other Noncurrent Assets – Prepaid Benefit Costs
 
$
—

 
$
—

 
$
40,749

 
$
39,590

Other Current Liabilities – Accrued Short-term Benefit Liability
 
(28
)
 
(43
)
 
—

 
—

Deferred Credits and Other Noncurrent Liabilities – Accrued Long-term Benefit Liability
 
(26,183
)
 
(15,513
)
 
—

 
127

Funded (Underfunded) Status
 
$
(26,211
)
 
$
(15,556
)
 
$
40,749

 
$
39,717
Amounts Included in AOCI and Regulatory Assets
I&M
 
Pension Plans
 
Other Postretirement
Benefit Plans
 
 
December 31,
 
 
2014
 
2013
 
2014
 
2013
Components
 
(in thousands)
Net Actuarial Loss
 
$
137,945

 
$
138,367

 
$
54,444

 
$
54,949

Prior Service Cost (Credit)
 
510

 
705

 
(85,117
)
 
(94,538
)
 
 
 
 
 
 
 
 
 
Recorded as
 
 
 
 
 
 
 
 
Regulatory Assets
 
$
134,121

 
$
134,560

 
$
(26,264
)
 
$
(34,428
)
Deferred Income Taxes
 
1,517

 
1,579

 
(1,543
)
 
(1,807
)
Net of Tax AOCI
 
2,817

 
2,933

 
(2,866
)
 
(3,354
)
Components of Change in Amounts Included in AOCI and Regulatory Assets
Pension Plans – Components
 
APCo
 
I&M
 
OPCo
 
PSO
 
SWEPCo
 
 
(in thousands)
Actuarial Loss During the Year
 
$
31,546

 
$
14,163

 
$
11,509

 
$
15,706

 
$
16,457

Amortization of Actuarial Loss
 
(16,593
)
 
(14,585
)
 
(12,422
)
 
(6,753
)
 
(7,046
)
Amortization of Prior Service Cost
 
(197
)
 
(195
)
 
(157
)
 
(296
)
 
(349
)
Change for the Year Ended December 31, 2014
 
$
14,756

 
$
(617
)
 
$
(1,070
)
 
$
8,657

 
$
9,062


Pension Plans – Components
 
APCo
 
I&M
 
OPCo
 
PSO
 
SWEPCo
 
 
(in thousands)
Actuarial Gain During the Year
 
$
(58,411
)
 
$
(51,388
)
 
$
(253,392
)
 
$
(19,599
)
 
$
(16,133
)
Amortization of Actuarial Loss
 
(25,025
)
 
(21,688
)
 
(19,833
)
 
(9,845
)
 
(10,214
)
Amortization of Prior Service Cost
 
(198
)
 
(195
)
 
(157
)
 
(297
)
 
(349
)
Change for the Year Ended December 31, 2013
 
$
(83,634
)
 
$
(73,271
)
 
$
(273,382
)
 
$
(29,741
)
 
$
(26,696
)
Other Postretirement Benefit Plans –
Components
 
APCo
 
I&M
 
OPCo
 
PSO
 
SWEPCo
 
 
(in thousands)
Actuarial (Gain) Loss During the Year
 
$
(2,309
)
 
$
1,863

 
$
3,226

 
$
639

 
$
840

Amortization of Actuarial Loss
 
(4,582
)
 
(2,368
)
 
(2,379
)
 
(1,109
)
 
(1,235
)
Amortization of Prior Service Credit
 
10,050

 
9,421

 
6,923

 
4,290

 
5,156

Change for the Year Ended December 31, 2014
 
$
3,159

 
$
8,916

 
$
7,770

 
$
3,820

 
$
4,761

Other Postretirement Benefit Plans –
Components
 
APCo
 
I&M
 
OPCo
 
PSO
 
SWEPCo
 
 
(in thousands)
Actuarial Gain During the Year
 
$
(82,192
)
 
$
(63,460
)
 
$
(111,922
)
 
$
(27,305
)
 
$
(30,523
)
Amortization of Actuarial Loss
 
(12,249
)
 
(7,526
)
 
(8,633
)
 
(3,476
)
 
(3,928
)
Amortization of Prior Service Credit
 
10,050

 
9,421

 
6,962

 
4,289

 
5,156

Change for the Year Ended December 31, 2013
 
$
(84,391
)
 
$
(61,565
)
 
$
(113,593
)
 
$
(26,492
)
 
$
(29,295
)
Accumulated Benefit Obligation
Accumulated Benefit Obligation
 
APCo
 
I&M
 
OPCo
 
PSO
 
SWEPCo
 
 
(in thousands)
Qualified Pension Plan
 
$
688,632

 
$
598,190

 
$
512,467

 
$
270,059

 
$
281,210

Nonqualified Pension Plans
 
464

 
470

 
69

 
2,750

 
1,749

Total as of December 31, 2014
 
$
689,096

 
$
598,660

 
$
512,536

 
$
272,809

 
$
282,959

 
 
 
 
 
 
 
 
 
 
 
Accumulated Benefit Obligation
 
APCo
 
I&M
 
OPCo
 
PSO
 
SWEPCo
 
 
(in thousands)
Qualified Pension Plan
 
$
653,968

 
$
560,443

 
$
512,798

 
$
248,472

 
$
256,083

Nonqualified Pension Plans
 
200

 
326

 
6

 
1,387

 
1,115

Total as of December 31, 2013
 
$
654,168

 
$
560,769

 
$
512,804

 
$
249,859

 
$
257,198
Underfunded Accumulated Benefit Obligation
 
APCo
 
I&M
 
OPCo
 
PSO
 
SWEPCo
 
(in thousands)
Projected Benefit Obligation
$
702,805

 
$
617,948

 
$
526,250

 
$
2,770

 
$
1,790

 
 
 
 
 
 
 
 
 
 
Accumulated Benefit Obligation
$
689,096

 
$
598,660

 
$
512,536

 
$
2,750

 
$
1,749

Fair Value of Plan Assets
642,289

 
591,737

 
498,461

 
—

 
—

Underfunded Accumulated Benefit Obligation as of December 31, 2014
$
(46,807
)
 
$
(6,923
)
 
$
(14,075
)
 
$
(2,750
)
 
$
(1,749
)
 
 
 
 
 
 
 
 
 
 
 
APCo
 
I&M
 
OPCo
 
PSO
 
SWEPCo
 
(in thousands)
Projected Benefit Obligation
$
663,231

 
$
574,699

 
$
523,643

 
$
1,394

 
$
1,124

 
 
 
 
 
 
 
 
 
 
Accumulated Benefit Obligation
$
654,168

 
$
560,769

 
$
512,804

 
$
1,387

 
$
1,115

Fair Value of Plan Assets
627,995

 
559,143

 
501,634

 
—

 
—

Underfunded Accumulated Benefit Obligation as of December 31, 2013
$
(26,173
)
 
$
(1,626
)
 
$
(11,170
)
 
$
(1,387
)
 
$
(1,115
)
Estimated Contributions and Payments to the Pension and OPEB Plans
Company
 
Pension Plans
 
Other Postretirement
Benefit Plans
 
 
(in thousands)
APCo
 
$
11,631

 
$
2,884

I&M
 
12,492

 
—

OPCo
 
7,847

 
—

PSO
 
6,656

 
—

SWEPCo
 
7,840

 
—
Estimated Payments Expected to be Made by the Pension and OPEB Plans
Pension Plans
 
APCo
 
I&M
 
OPCo
 
PSO
 
SWEPCo
 
 
(in thousands)
2015
 
$
42,859

 
$
33,114

 
$
36,277

 
$
18,950

 
$
18,872

2016
 
43,091

 
33,813

 
36,174

 
19,626

 
18,747

2017
 
43,484

 
35,748

 
35,571

 
20,175

 
20,407

2018
 
45,122

 
36,948

 
35,822

 
21,118

 
21,019

2019
 
45,488

 
38,727

 
36,179

 
21,732

 
22,059

Years 2020 to 2024, in Total
 
236,107

 
209,813

 
176,022

 
109,800

 
118,909

 
Other Postretirement Benefit Plans:
Benefit Payments
 
APCo
 
I&M
 
OPCo
 
PSO
 
SWEPCo
 
 
(in thousands)
2015
 
$
24,828

 
$
15,088

 
$
16,379

 
$
6,989

 
$
7,401

2016
 
24,603

 
15,363

 
16,289

 
7,067

 
7,504

2017
 
24,468

 
15,484

 
16,088

 
7,074

 
7,674

2018
 
24,820

 
15,637

 
16,122

 
7,132

 
7,840

2019
 
24,290

 
15,804

 
16,079

 
7,278

 
7,885

Years 2020 to 2024, in Total
 
121,401

 
84,026

 
80,066

 
38,852

 
43,503

Other Postretirement Benefit Plans:
Medicare Subsidy Receipts
 
APCo
 
I&M
 
OPCo
 
PSO
 
SWEPCo
 
 
(in thousands)
2015
 
$
232

 
$
—

 
$
—

 
$
—

 
$
—

2016
 
236

 
—

 
—

 
—

 
—

2017
 
234

 
—

 
—

 
—

 
—

2018
 
231

 
—

 
—

 
—

 
—

2019
 
230

 
—

 
—

 
—

 
—

Years 2020 to 2024, in Total
 
1,080

 
—

 
—

 
—

 
—
Components of Net Periodic Benefit Cost
I&M
Pension Plans
 
Other Postretirement
Benefit Plans
 
Years Ended December 31,
 
2014
 
2013
 
2012
 
2014
 
2013
 
2012
 
(in thousands)
Service Cost
$
10,068

 
$
8,736

 
$
9,908

 
$
1,947

 
$
3,219

 
$
6,621

Interest Cost
26,293

 
24,100

 
26,245

 
7,638

 
8,221

 
12,785

Expected Return on Plan Assets
(30,993
)
 
(32,826
)
 
(37,566
)
 
(13,454
)
 
(13,183
)
 
(12,847
)
Amortization of Transition Obligation
—

 
—

 
—

 
—

 
—

 
132

Amortization of Prior Service Cost (Credit)
195

 
195

 
407

 
(9,421
)
 
(9,421
)
 
(2,383
)
Amortization of Net Actuarial Loss
14,585

 
21,688

 
17,569

 
2,368

 
7,526

 
7,050

Net Periodic Benefit Cost (Credit)
20,148

 
21,893

 
16,563

 
(10,922
)
 
(3,638
)
 
11,358

Capitalized Portion
(4,638
)
 
(4,576
)
 
(3,114
)
 
2,514

 
760

 
(2,135
)
Net Periodic Benefit Cost (Credit) Recognized in Expense
$
15,510

 
$
17,317

 
$
13,449

 
$
(8,408
)
 
$
(2,878
)
 
$
9,223
Estimated Amounts to be Amortized to Net Periodic Benefit Costs
 
 
APCo
 
I&M
 
OPCo
 
PSO
 
SWEPCo
Pension Plans – Components
 
(in thousands)
Net Actuarial Loss
 
$
14,457

 
$
12,713

 
$
10,823

 
$
5,891

 
$
6,146

Prior Service Cost
 
180

 
181

 
140

 
252

 
308

Total Estimated 2015 Amortization
 
$
14,637

 
$
12,894

 
$
10,963

 
$
6,143

 
$
6,454

 
 
 
 
 
 
 
 
 
 
 
Pension Plans –
Expected to be Recorded as
 
 
 
 
 
 
 
 
 
 
Regulatory Asset
 
$
14,560

 
$
12,114

 
$
10,963

 
$
6,143

 
$
6,454

Deferred Income Taxes
 
27

 
273

 
—

 
—

 
—

Net of Tax AOCI
 
50

 
507

 
—

 
—

 
—

Total
 
$
14,637

 
$
12,894

 
$
10,963

 
$
6,143

 
$
6,454

 
 
 
 
 
 
 
 
 
 
 
 
 
APCo
 
I&M
 
OPCo
 
PSO
 
SWEPCo
Other Postretirement Benefit Plans –
Components
 
(in thousands)
Net Actuarial Loss
 
$
3,353

 
$
1,814

 
$
1,848

 
$
861

 
$
954

Prior Service Credit
 
(10,050
)
 
(9,421
)
 
(6,922
)
 
(4,290
)
 
(5,156
)
Total Estimated 2015 Amortization
 
$
(6,697
)
 
$
(7,607
)
 
$
(5,074
)
 
$
(3,429
)
 
$
(4,202
)
 
 
 
 
 
 
 
 
 
 
 
Other Postretirement Benefit Plans –
Expected to be Recorded as
 
 
 
 
 
 
 
 
 
 
Regulatory Asset
 
$
(3,693
)
 
$
(6,934
)
 
$
(5,074
)
 
$
(3,429
)
 
$
(2,687
)
Deferred Income Taxes
 
(1,051
)
 
(236
)
 
—

 
—

 
(530
)
Net of Tax AOCI
 
(1,953
)
 
(437
)
 
—

 
—

 
(985
)
Total
 
$
(6,697
)
 
$
(7,607
)
 
$
(5,074
)
 
$
(3,429
)
 
$
(4,202
)
Cost for Matching Contributions to the Retirement Savings Plans
 
 
Year Ended December 31,
Company
 
2014
 
2013
 
2012
 
 
(in thousands)
APCo
 
$
7,280

 
$
7,366

 
$
7,579

I&M
 
10,461

 
10,010

 
9,706

OPCo
 
5,207

 
6,502

 
10,798

PSO
 
4,026

 
3,784

 
3,732

SWEPCo
 
5,272

 
4,970

 
4,890
Ohio Power Co [Member]  
Health Care Trend Rates
Health Care Trend Rates
 
2014
 
2013
Initial
 
6.50
%
 
6.75
%
Ultimate
 
5.00
%
 
5.00
%
Year Ultimate Reached
 
2020

 
2020
Effect of a 1% Change in Assumed Health Care Cost Trend Rates for the OPEB Health Care Plans
 
 
APCo
 
I&M
 
OPCo
 
PSO
 
SWEPCo
 
 
(in thousands)
Effect on Total Service and Interest Cost Components of Net Periodic Postretirement Health Care Benefit Cost:
 
 
 
 
 
 
 
 
 
 
1% Increase
 
$
902

 
$
343

 
$
308

 
$
158

 
$
179

1% Decrease
 
(691
)
 
(264
)
 
(237
)
 
(121
)
 
(138
)
 
 
 
 
 
 
 
 
 
 
 
Effect on the Health Care Component of the Accumulated Postretirement Benefit Obligation:
 
 
 
 
 
 
 
 
 
 
1% Increase
 
$
17,260

 
$
7,117

 
$
7,251

 
$
3,377

 
$
3,742

1% Decrease
 
(13,614
)
 
(5,630
)
 
(5,736
)
 
(2,671
)
 
(2,960
)
Reconciliation of Changes in Benefit Obligations and Fair Value of Assets
OPCo
 
Pension Plans
 
Other Postretirement
Benefit Plans
 
 
2014
 
2013
 
2014
 
2013
Change in Benefit Obligation
 
(in thousands)
Benefit Obligation as of January 1,
 
$
523,643

 
$
1,068,186

 
$
171,164

 
$
466,290

Transfer of OPCo Generation Benefit Obligation
 
—

 
(499,725
)
 
—

 
(250,843
)
Service Cost
 
5,140

 
5,285

 
1,026

 
2,882

Interest Cost
 
22,105

 
21,939

 
7,601

 
9,494

Actuarial (Gain) Loss
 
6,761

 
(34,373
)
 
(4,286
)
 
(44,149
)
Benefit Payments
 
(31,399
)
 
(37,669
)
 
(17,353
)
 
(18,844
)
Participant Contributions
 
—

 
—

 
5,564

 
5,199

Medicare Subsidy
 
—

 
—

 
981

 
1,135

Benefit Obligation as of December 31,
 
$
526,250

 
$
523,643

 
$
164,697

 
$
171,164

 
 
 
 
 
 
 
 
 
Change in Fair Value of Plan Assets
 
 
 
 
 
 
 
 
Fair Value of Plan Assets as of January 1,
 
$
501,634

 
$
1,015,115

 
$
211,994

 
$
366,301

Transfer of OPCo Generation Plan Assets
 
—

 
(506,076
)
 
—

 
(170,650
)
Actual Gain on Plan Assets
 
21,679

 
30,264

 
6,007

 
29,576

Company Contributions
 
6,547

 
—

 
—

 
412

Participant Contributions
 
—

 
—

 
5,564

 
5,199

Benefit Payments
 
(31,399
)
 
(37,669
)
 
(17,353
)
 
(18,844
)
Fair Value of Plan Assets as of December 31,
 
$
498,461

 
$
501,634

 
$
206,212

 
$
211,994

 
 
 
 
 
 
 
 
 
Funded (Underfunded) Status as of December 31,
 
$
(27,789
)
 
$
(22,009
)
 
$
41,515

 
$
40,830
Benefit Amounts Recognized on the Balance Sheets
 
 
Pension Plans
 
Other Postretirement
Benefit Plans
 
 
December 31,
OPCo
 
2014
 
2013
 
2014
 
2013
 
 
(in thousands)
Deferred Charges and Other Noncurrent Assets – Prepaid Benefit Costs
 
$
—

 
$
—

 
$
41,515

 
$
39,496

Other Current Liabilities – Accrued Short-term Benefit Liability
 
(1
)
 
(1
)
 
—

 
—

Employee Benefits and Pension Obligations – Accrued Long-term Benefit Liability
 
(27,788
)
 
(22,008
)
 
—

 
1,334

Funded (Underfunded) Status
 
$
(27,789
)
 
$
(22,009
)
 
$
41,515

 
$
40,830
Amounts Included in AOCI and Regulatory Assets
OPCo
 
Pension Plans
 
Other Postretirement
Benefit Plans
 
 
December 31,
 
 
2014
 
2013
 
2014
 
2013
Components
 
(in thousands)
Net Actuarial Loss
 
$
226,755

 
$
227,668

 
$
30,651

 
$
29,804

Prior Service Cost (Credit)
 
393

 
550

 
(62,377
)
 
(69,300
)
 
 
 
 
 
 
 
 
 
Recorded as
 
 
 
 
 
 
 
 
Regulatory Assets
 
$
227,148

 
$
228,218

 
$
(31,726
)
 
$
(39,496
)
Components of Change in Amounts Included in AOCI and Regulatory Assets
Pension Plans – Components
 
APCo
 
I&M
 
OPCo
 
PSO
 
SWEPCo
 
 
(in thousands)
Actuarial Loss During the Year
 
$
31,546

 
$
14,163

 
$
11,509

 
$
15,706

 
$
16,457

Amortization of Actuarial Loss
 
(16,593
)
 
(14,585
)
 
(12,422
)
 
(6,753
)
 
(7,046
)
Amortization of Prior Service Cost
 
(197
)
 
(195
)
 
(157
)
 
(296
)
 
(349
)
Change for the Year Ended December 31, 2014
 
$
14,756

 
$
(617
)
 
$
(1,070
)
 
$
8,657

 
$
9,062


Pension Plans – Components
 
APCo
 
I&M
 
OPCo
 
PSO
 
SWEPCo
 
 
(in thousands)
Actuarial Gain During the Year
 
$
(58,411
)
 
$
(51,388
)
 
$
(253,392
)
 
$
(19,599
)
 
$
(16,133
)
Amortization of Actuarial Loss
 
(25,025
)
 
(21,688
)
 
(19,833
)
 
(9,845
)
 
(10,214
)
Amortization of Prior Service Cost
 
(198
)
 
(195
)
 
(157
)
 
(297
)
 
(349
)
Change for the Year Ended December 31, 2013
 
$
(83,634
)
 
$
(73,271
)
 
$
(273,382
)
 
$
(29,741
)
 
$
(26,696
)
Other Postretirement Benefit Plans –
Components
 
APCo
 
I&M
 
OPCo
 
PSO
 
SWEPCo
 
 
(in thousands)
Actuarial (Gain) Loss During the Year
 
$
(2,309
)
 
$
1,863

 
$
3,226

 
$
639

 
$
840

Amortization of Actuarial Loss
 
(4,582
)
 
(2,368
)
 
(2,379
)
 
(1,109
)
 
(1,235
)
Amortization of Prior Service Credit
 
10,050

 
9,421

 
6,923

 
4,290

 
5,156

Change for the Year Ended December 31, 2014
 
$
3,159

 
$
8,916

 
$
7,770

 
$
3,820

 
$
4,761

Other Postretirement Benefit Plans –
Components
 
APCo
 
I&M
 
OPCo
 
PSO
 
SWEPCo
 
 
(in thousands)
Actuarial Gain During the Year
 
$
(82,192
)
 
$
(63,460
)
 
$
(111,922
)
 
$
(27,305
)
 
$
(30,523
)
Amortization of Actuarial Loss
 
(12,249
)
 
(7,526
)
 
(8,633
)
 
(3,476
)
 
(3,928
)
Amortization of Prior Service Credit
 
10,050

 
9,421

 
6,962

 
4,289

 
5,156

Change for the Year Ended December 31, 2013
 
$
(84,391
)
 
$
(61,565
)
 
$
(113,593
)
 
$
(26,492
)
 
$
(29,295
)
Accumulated Benefit Obligation
Accumulated Benefit Obligation
 
APCo
 
I&M
 
OPCo
 
PSO
 
SWEPCo
 
 
(in thousands)
Qualified Pension Plan
 
$
688,632

 
$
598,190

 
$
512,467

 
$
270,059

 
$
281,210

Nonqualified Pension Plans
 
464

 
470

 
69

 
2,750

 
1,749

Total as of December 31, 2014
 
$
689,096

 
$
598,660

 
$
512,536

 
$
272,809

 
$
282,959

 
 
 
 
 
 
 
 
 
 
 
Accumulated Benefit Obligation
 
APCo
 
I&M
 
OPCo
 
PSO
 
SWEPCo
 
 
(in thousands)
Qualified Pension Plan
 
$
653,968

 
$
560,443

 
$
512,798

 
$
248,472

 
$
256,083

Nonqualified Pension Plans
 
200

 
326

 
6

 
1,387

 
1,115

Total as of December 31, 2013
 
$
654,168

 
$
560,769

 
$
512,804

 
$
249,859

 
$
257,198
Underfunded Accumulated Benefit Obligation
 
APCo
 
I&M
 
OPCo
 
PSO
 
SWEPCo
 
(in thousands)
Projected Benefit Obligation
$
702,805

 
$
617,948

 
$
526,250

 
$
2,770

 
$
1,790

 
 
 
 
 
 
 
 
 
 
Accumulated Benefit Obligation
$
689,096

 
$
598,660

 
$
512,536

 
$
2,750

 
$
1,749

Fair Value of Plan Assets
642,289

 
591,737

 
498,461

 
—

 
—

Underfunded Accumulated Benefit Obligation as of December 31, 2014
$
(46,807
)
 
$
(6,923
)
 
$
(14,075
)
 
$
(2,750
)
 
$
(1,749
)
 
 
 
 
 
 
 
 
 
 
 
APCo
 
I&M
 
OPCo
 
PSO
 
SWEPCo
 
(in thousands)
Projected Benefit Obligation
$
663,231

 
$
574,699

 
$
523,643

 
$
1,394

 
$
1,124

 
 
 
 
 
 
 
 
 
 
Accumulated Benefit Obligation
$
654,168

 
$
560,769

 
$
512,804

 
$
1,387

 
$
1,115

Fair Value of Plan Assets
627,995

 
559,143

 
501,634

 
—

 
—

Underfunded Accumulated Benefit Obligation as of December 31, 2013
$
(26,173
)
 
$
(1,626
)
 
$
(11,170
)
 
$
(1,387
)
 
$
(1,115
)
Estimated Contributions and Payments to the Pension and OPEB Plans
Company
 
Pension Plans
 
Other Postretirement
Benefit Plans
 
 
(in thousands)
APCo
 
$
11,631

 
$
2,884

I&M
 
12,492

 
—

OPCo
 
7,847

 
—

PSO
 
6,656

 
—

SWEPCo
 
7,840

 
—
Estimated Payments Expected to be Made by the Pension and OPEB Plans
Pension Plans
 
APCo
 
I&M
 
OPCo
 
PSO
 
SWEPCo
 
 
(in thousands)
2015
 
$
42,859

 
$
33,114

 
$
36,277

 
$
18,950

 
$
18,872

2016
 
43,091

 
33,813

 
36,174

 
19,626

 
18,747

2017
 
43,484

 
35,748

 
35,571

 
20,175

 
20,407

2018
 
45,122

 
36,948

 
35,822

 
21,118

 
21,019

2019
 
45,488

 
38,727

 
36,179

 
21,732

 
22,059

Years 2020 to 2024, in Total
 
236,107

 
209,813

 
176,022

 
109,800

 
118,909

 
Other Postretirement Benefit Plans:
Benefit Payments
 
APCo
 
I&M
 
OPCo
 
PSO
 
SWEPCo
 
 
(in thousands)
2015
 
$
24,828

 
$
15,088

 
$
16,379

 
$
6,989

 
$
7,401

2016
 
24,603

 
15,363

 
16,289

 
7,067

 
7,504

2017
 
24,468

 
15,484

 
16,088

 
7,074

 
7,674

2018
 
24,820

 
15,637

 
16,122

 
7,132

 
7,840

2019
 
24,290

 
15,804

 
16,079

 
7,278

 
7,885

Years 2020 to 2024, in Total
 
121,401

 
84,026

 
80,066

 
38,852

 
43,503

Other Postretirement Benefit Plans:
Medicare Subsidy Receipts
 
APCo
 
I&M
 
OPCo
 
PSO
 
SWEPCo
 
 
(in thousands)
2015
 
$
232

 
$
—

 
$
—

 
$
—

 
$
—

2016
 
236

 
—

 
—

 
—

 
—

2017
 
234

 
—

 
—

 
—

 
—

2018
 
231

 
—

 
—

 
—

 
—

2019
 
230

 
—

 
—

 
—

 
—

Years 2020 to 2024, in Total
 
1,080

 
—

 
—

 
—

 
—
Components of Net Periodic Benefit Cost
OPCo
Pension Plans
 
Other Postretirement
Benefit Plans
 
Years Ended December 31,
 
2014
 
2013
 
2012
 
2014
 
2013
 
2012
 
(in thousands)
Service Cost
$
5,140

 
$
5,285

 
$
11,003

 
$
1,026

 
$
2,882

 
$
8,748

Interest Cost
22,105

 
21,939

 
45,194

 
7,601

 
9,494

 
24,189

Expected Return on Plan Assets
(26,427
)
 
(29,919
)
 
(68,401
)
 
(13,519
)
 
(13,468
)
 
(22,555
)
Amortization of Transition Obligation
—

 
—

 
—

 
—

 
—

 
104

Amortization of Prior Service Cost (Credit)
157

 
157

 
743

 
(6,923
)
 
(6,962
)
 
(3,873
)
Amortization of Net Actuarial Loss
12,422

 
19,833

 
30,439

 
2,379

 
8,633

 
13,669

Net Periodic Benefit Cost (Credit)
13,397

 
17,295

 
18,978

 
(9,436
)
 
579

 
20,282

Capitalized Portion
(5,479
)
 
(6,192
)
 
(7,060
)
 
3,859

 
(207
)
 
(7,545
)
Net Periodic Benefit Cost (Credit) Recognized in Expense
$
7,918

 
$
11,103

 
$
11,918

 
$
(5,577
)
 
$
372

 
$
12,737
Estimated Amounts to be Amortized to Net Periodic Benefit Costs
 
 
APCo
 
I&M
 
OPCo
 
PSO
 
SWEPCo
Pension Plans – Components
 
(in thousands)
Net Actuarial Loss
 
$
14,457

 
$
12,713

 
$
10,823

 
$
5,891

 
$
6,146

Prior Service Cost
 
180

 
181

 
140

 
252

 
308

Total Estimated 2015 Amortization
 
$
14,637

 
$
12,894

 
$
10,963

 
$
6,143

 
$
6,454

 
 
 
 
 
 
 
 
 
 
 
Pension Plans –
Expected to be Recorded as
 
 
 
 
 
 
 
 
 
 
Regulatory Asset
 
$
14,560

 
$
12,114

 
$
10,963

 
$
6,143

 
$
6,454

Deferred Income Taxes
 
27

 
273

 
—

 
—

 
—

Net of Tax AOCI
 
50

 
507

 
—

 
—

 
—

Total
 
$
14,637

 
$
12,894

 
$
10,963

 
$
6,143

 
$
6,454

 
 
 
 
 
 
 
 
 
 
 
 
 
APCo
 
I&M
 
OPCo
 
PSO
 
SWEPCo
Other Postretirement Benefit Plans –
Components
 
(in thousands)
Net Actuarial Loss
 
$
3,353

 
$
1,814

 
$
1,848

 
$
861

 
$
954

Prior Service Credit
 
(10,050
)
 
(9,421
)
 
(6,922
)
 
(4,290
)
 
(5,156
)
Total Estimated 2015 Amortization
 
$
(6,697
)
 
$
(7,607
)
 
$
(5,074
)
 
$
(3,429
)
 
$
(4,202
)
 
 
 
 
 
 
 
 
 
 
 
Other Postretirement Benefit Plans –
Expected to be Recorded as
 
 
 
 
 
 
 
 
 
 
Regulatory Asset
 
$
(3,693
)
 
$
(6,934
)
 
$
(5,074
)
 
$
(3,429
)
 
$
(2,687
)
Deferred Income Taxes
 
(1,051
)
 
(236
)
 
—

 
—

 
(530
)
Net of Tax AOCI
 
(1,953
)
 
(437
)
 
—

 
—

 
(985
)
Total
 
$
(6,697
)
 
$
(7,607
)
 
$
(5,074
)
 
$
(3,429
)
 
$
(4,202
)
Cost for Matching Contributions to the Retirement Savings Plans
 
 
Year Ended December 31,
Company
 
2014
 
2013
 
2012
 
 
(in thousands)
APCo
 
$
7,280

 
$
7,366

 
$
7,579

I&M
 
10,461

 
10,010

 
9,706

OPCo
 
5,207

 
6,502

 
10,798

PSO
 
4,026

 
3,784

 
3,732

SWEPCo
 
5,272

 
4,970

 
4,890
Public Service Co Of Oklahoma [Member]  
Health Care Trend Rates
Health Care Trend Rates
 
2014
 
2013
Initial
 
6.50
%
 
6.75
%
Ultimate
 
5.00
%
 
5.00
%
Year Ultimate Reached
 
2020

 
2020
Effect of a 1% Change in Assumed Health Care Cost Trend Rates for the OPEB Health Care Plans
 
 
APCo
 
I&M
 
OPCo
 
PSO
 
SWEPCo
 
 
(in thousands)
Effect on Total Service and Interest Cost Components of Net Periodic Postretirement Health Care Benefit Cost:
 
 
 
 
 
 
 
 
 
 
1% Increase
 
$
902

 
$
343

 
$
308

 
$
158

 
$
179

1% Decrease
 
(691
)
 
(264
)
 
(237
)
 
(121
)
 
(138
)
 
 
 
 
 
 
 
 
 
 
 
Effect on the Health Care Component of the Accumulated Postretirement Benefit Obligation:
 
 
 
 
 
 
 
 
 
 
1% Increase
 
$
17,260

 
$
7,117

 
$
7,251

 
$
3,377

 
$
3,742

1% Decrease
 
(13,614
)
 
(5,630
)
 
(5,736
)
 
(2,671
)
 
(2,960
)
Reconciliation of Changes in Benefit Obligations and Fair Value of Assets
PSO
 
Pension Plans
 
Other Postretirement
Benefit Plans
 
 
2014
 
2013
 
2014
 
2013
Change in Benefit Obligation
 
(in thousands)
Benefit Obligation as of January 1,
 
$
260,710

 
$
279,685

 
$
77,779

 
$
99,680

Service Cost
 
5,207

 
5,562

 
839

 
1,372

Interest Cost
 
12,057

 
10,993

 
3,574

 
3,793

Actuarial (Gain) Loss
 
25,708

 
(15,381
)
 
(952
)
 
(22,070
)
Benefit Payments
 
(18,277
)
 
(20,149
)
 
(7,305
)
 
(7,741
)
Participant Contributions
 
—

 
—

 
2,304

 
2,229

Medicare Subsidy
 
—

 
—

 
467

 
516

Benefit Obligation as of December 31,
 
$
285,405

 
$
260,710

 
$
76,706

 
$
77,779

 
 
 
 
 
 
 
 
 
Change in Fair Value of Plan Assets
 
 
 
 
 
 
 
 
Fair Value of Plan Assets as of January 1,
 
$
264,597

 
$
264,823

 
$
96,333

 
$
90,521

Actual Gain on Plan Assets
 
24,607

 
19,892

 
4,709

 
11,324

Company Contributions
 
4,555

 
31

 
—

 
—

Participant Contributions
 
—

 
—

 
2,304

 
2,229

Benefit Payments
 
(18,277
)
 
(20,149
)
 
(7,305
)
 
(7,741
)
Fair Value of Plan Assets as of December 31,
 
$
275,482

 
$
264,597

 
$
96,041

 
$
96,333

 
 
 
 
 
 
 
 
 
Funded (Underfunded) Status as of December 31,
 
$
(9,923
)
 
$
3,887

 
$
19,335

 
$
18,554
Benefit Amounts Recognized on the Balance Sheets
 
 
Pension Plans
 
Other Postretirement
Benefit Plans
 
 
December 31,
PSO
 
2014
 
2013
 
2014
 
2013
 
 
(in thousands)
Employee Benefits and Pension Assets – Prepaid Benefit Costs
 
$
—

 
$
5,280

 
$
19,335

 
$
17,349

Other Current Liabilities – Accrued Short-term Benefit Liability
 
(190
)
 
(107
)
 
—

 
—

Employee Benefits and Pension Obligations – Accrued Long-term Benefit Liability
 
(9,733
)
 
(1,286
)
 
—

 
1,205

Funded (Underfunded) Status
 
$
(9,923
)
 
$
3,887

 
$
19,335

 
$
18,554
Amounts Included in AOCI and Regulatory Assets
PSO
 
Pension Plans
 
Other Postretirement
Benefit Plans
 
 
December 31,
 
 
2014
 
2013
 
2014
 
2013
Components
 
(in thousands)
Net Actuarial Loss
 
$
102,641

 
$
93,688

 
$
25,242

 
$
25,712

Prior Service Cost (Credit)
 
536

 
832

 
(38,771
)
 
(43,061
)
 
 
 
 
 
 
 
 
 
Recorded as
 
 
 
 
 
 
 
 
Regulatory Assets
 
$
103,177

 
$
94,520

 
$
(13,529
)
 
$
(17,349
)
Components of Change in Amounts Included in AOCI and Regulatory Assets
Pension Plans – Components
 
APCo
 
I&M
 
OPCo
 
PSO
 
SWEPCo
 
 
(in thousands)
Actuarial Loss During the Year
 
$
31,546

 
$
14,163

 
$
11,509

 
$
15,706

 
$
16,457

Amortization of Actuarial Loss
 
(16,593
)
 
(14,585
)
 
(12,422
)
 
(6,753
)
 
(7,046
)
Amortization of Prior Service Cost
 
(197
)
 
(195
)
 
(157
)
 
(296
)
 
(349
)
Change for the Year Ended December 31, 2014
 
$
14,756

 
$
(617
)
 
$
(1,070
)
 
$
8,657

 
$
9,062


Pension Plans – Components
 
APCo
 
I&M
 
OPCo
 
PSO
 
SWEPCo
 
 
(in thousands)
Actuarial Gain During the Year
 
$
(58,411
)
 
$
(51,388
)
 
$
(253,392
)
 
$
(19,599
)
 
$
(16,133
)
Amortization of Actuarial Loss
 
(25,025
)
 
(21,688
)
 
(19,833
)
 
(9,845
)
 
(10,214
)
Amortization of Prior Service Cost
 
(198
)
 
(195
)
 
(157
)
 
(297
)
 
(349
)
Change for the Year Ended December 31, 2013
 
$
(83,634
)
 
$
(73,271
)
 
$
(273,382
)
 
$
(29,741
)
 
$
(26,696
)
Other Postretirement Benefit Plans –
Components
 
APCo
 
I&M
 
OPCo
 
PSO
 
SWEPCo
 
 
(in thousands)
Actuarial (Gain) Loss During the Year
 
$
(2,309
)
 
$
1,863

 
$
3,226

 
$
639

 
$
840

Amortization of Actuarial Loss
 
(4,582
)
 
(2,368
)
 
(2,379
)
 
(1,109
)
 
(1,235
)
Amortization of Prior Service Credit
 
10,050

 
9,421

 
6,923

 
4,290

 
5,156

Change for the Year Ended December 31, 2014
 
$
3,159

 
$
8,916

 
$
7,770

 
$
3,820

 
$
4,761

Other Postretirement Benefit Plans –
Components
 
APCo
 
I&M
 
OPCo
 
PSO
 
SWEPCo
 
 
(in thousands)
Actuarial Gain During the Year
 
$
(82,192
)
 
$
(63,460
)
 
$
(111,922
)
 
$
(27,305
)
 
$
(30,523
)
Amortization of Actuarial Loss
 
(12,249
)
 
(7,526
)
 
(8,633
)
 
(3,476
)
 
(3,928
)
Amortization of Prior Service Credit
 
10,050

 
9,421

 
6,962

 
4,289

 
5,156

Change for the Year Ended December 31, 2013
 
$
(84,391
)
 
$
(61,565
)
 
$
(113,593
)
 
$
(26,492
)
 
$
(29,295
)
Accumulated Benefit Obligation
Accumulated Benefit Obligation
 
APCo
 
I&M
 
OPCo
 
PSO
 
SWEPCo
 
 
(in thousands)
Qualified Pension Plan
 
$
688,632

 
$
598,190

 
$
512,467

 
$
270,059

 
$
281,210

Nonqualified Pension Plans
 
464

 
470

 
69

 
2,750

 
1,749

Total as of December 31, 2014
 
$
689,096

 
$
598,660

 
$
512,536

 
$
272,809

 
$
282,959

 
 
 
 
 
 
 
 
 
 
 
Accumulated Benefit Obligation
 
APCo
 
I&M
 
OPCo
 
PSO
 
SWEPCo
 
 
(in thousands)
Qualified Pension Plan
 
$
653,968

 
$
560,443

 
$
512,798

 
$
248,472

 
$
256,083

Nonqualified Pension Plans
 
200

 
326

 
6

 
1,387

 
1,115

Total as of December 31, 2013
 
$
654,168

 
$
560,769

 
$
512,804

 
$
249,859

 
$
257,198
Underfunded Accumulated Benefit Obligation
 
APCo
 
I&M
 
OPCo
 
PSO
 
SWEPCo
 
(in thousands)
Projected Benefit Obligation
$
702,805

 
$
617,948

 
$
526,250

 
$
2,770

 
$
1,790

 
 
 
 
 
 
 
 
 
 
Accumulated Benefit Obligation
$
689,096

 
$
598,660

 
$
512,536

 
$
2,750

 
$
1,749

Fair Value of Plan Assets
642,289

 
591,737

 
498,461

 
—

 
—

Underfunded Accumulated Benefit Obligation as of December 31, 2014
$
(46,807
)
 
$
(6,923
)
 
$
(14,075
)
 
$
(2,750
)
 
$
(1,749
)
 
 
 
 
 
 
 
 
 
 
 
APCo
 
I&M
 
OPCo
 
PSO
 
SWEPCo
 
(in thousands)
Projected Benefit Obligation
$
663,231

 
$
574,699

 
$
523,643

 
$
1,394

 
$
1,124

 
 
 
 
 
 
 
 
 
 
Accumulated Benefit Obligation
$
654,168

 
$
560,769

 
$
512,804

 
$
1,387

 
$
1,115

Fair Value of Plan Assets
627,995

 
559,143

 
501,634

 
—

 
—

Underfunded Accumulated Benefit Obligation as of December 31, 2013
$
(26,173
)
 
$
(1,626
)
 
$
(11,170
)
 
$
(1,387
)
 
$
(1,115
)
Estimated Contributions and Payments to the Pension and OPEB Plans
Company
 
Pension Plans
 
Other Postretirement
Benefit Plans
 
 
(in thousands)
APCo
 
$
11,631

 
$
2,884

I&M
 
12,492

 
—

OPCo
 
7,847

 
—

PSO
 
6,656

 
—

SWEPCo
 
7,840

 
—
Estimated Payments Expected to be Made by the Pension and OPEB Plans
Pension Plans
 
APCo
 
I&M
 
OPCo
 
PSO
 
SWEPCo
 
 
(in thousands)
2015
 
$
42,859

 
$
33,114

 
$
36,277

 
$
18,950

 
$
18,872

2016
 
43,091

 
33,813

 
36,174

 
19,626

 
18,747

2017
 
43,484

 
35,748

 
35,571

 
20,175

 
20,407

2018
 
45,122

 
36,948

 
35,822

 
21,118

 
21,019

2019
 
45,488

 
38,727

 
36,179

 
21,732

 
22,059

Years 2020 to 2024, in Total
 
236,107

 
209,813

 
176,022

 
109,800

 
118,909

 
Other Postretirement Benefit Plans:
Benefit Payments
 
APCo
 
I&M
 
OPCo
 
PSO
 
SWEPCo
 
 
(in thousands)
2015
 
$
24,828

 
$
15,088

 
$
16,379

 
$
6,989

 
$
7,401

2016
 
24,603

 
15,363

 
16,289

 
7,067

 
7,504

2017
 
24,468

 
15,484

 
16,088

 
7,074

 
7,674

2018
 
24,820

 
15,637

 
16,122

 
7,132

 
7,840

2019
 
24,290

 
15,804

 
16,079

 
7,278

 
7,885

Years 2020 to 2024, in Total
 
121,401

 
84,026

 
80,066

 
38,852

 
43,503

Other Postretirement Benefit Plans:
Medicare Subsidy Receipts
 
APCo
 
I&M
 
OPCo
 
PSO
 
SWEPCo
 
 
(in thousands)
2015
 
$
232

 
$
—

 
$
—

 
$
—

 
$
—

2016
 
236

 
—

 
—

 
—

 
—

2017
 
234

 
—

 
—

 
—

 
—

2018
 
231

 
—

 
—

 
—

 
—

2019
 
230

 
—

 
—

 
—

 
—

Years 2020 to 2024, in Total
 
1,080

 
—

 
—

 
—

 
—
Components of Net Periodic Benefit Cost
PSO
Pension Plans
 
Other Postretirement
Benefit Plans
 
Years Ended December 31,
 
2014
 
2013
 
2012
 
2014
 
2013
 
2012
 
(in thousands)
Service Cost
$
5,207

 
$
5,562

 
$
5,951

 
$
839

 
$
1,372

 
$
2,836

Interest Cost
12,057

 
10,993

 
12,301

 
3,574

 
3,793

 
5,797

Expected Return on Plan Assets
(14,604
)
 
(15,675
)
 
(18,015
)
 
(6,300
)
 
(6,089
)
 
(5,922
)
Amortization of Prior Service Cost (Credit)
296

 
297

 
(948
)
 
(4,290
)
 
(4,289
)
 
(1,079
)
Amortization of Net Actuarial Loss
6,753

 
9,845

 
8,206

 
1,109

 
3,476

 
3,189

Net Periodic Benefit Cost (Credit)
9,709

 
11,022

 
7,495

 
(5,068
)
 
(1,737
)
 
4,821

Capitalized Portion
(3,320
)
 
(3,384
)
 
(2,533
)
 
1,733

 
533

 
(1,629
)
Net Periodic Benefit Cost (Credit) Recognized in Expense
$
6,389

 
$
7,638

 
$
4,962

 
$
(3,335
)
 
$
(1,204
)
 
$
3,192
Estimated Amounts to be Amortized to Net Periodic Benefit Costs
 
 
APCo
 
I&M
 
OPCo
 
PSO
 
SWEPCo
Pension Plans – Components
 
(in thousands)
Net Actuarial Loss
 
$
14,457

 
$
12,713

 
$
10,823

 
$
5,891

 
$
6,146

Prior Service Cost
 
180

 
181

 
140

 
252

 
308

Total Estimated 2015 Amortization
 
$
14,637

 
$
12,894

 
$
10,963

 
$
6,143

 
$
6,454

 
 
 
 
 
 
 
 
 
 
 
Pension Plans –
Expected to be Recorded as
 
 
 
 
 
 
 
 
 
 
Regulatory Asset
 
$
14,560

 
$
12,114

 
$
10,963

 
$
6,143

 
$
6,454

Deferred Income Taxes
 
27

 
273

 
—

 
—

 
—

Net of Tax AOCI
 
50

 
507

 
—

 
—

 
—

Total
 
$
14,637

 
$
12,894

 
$
10,963

 
$
6,143

 
$
6,454

 
 
 
 
 
 
 
 
 
 
 
 
 
APCo
 
I&M
 
OPCo
 
PSO
 
SWEPCo
Other Postretirement Benefit Plans –
Components
 
(in thousands)
Net Actuarial Loss
 
$
3,353

 
$
1,814

 
$
1,848

 
$
861

 
$
954

Prior Service Credit
 
(10,050
)
 
(9,421
)
 
(6,922
)
 
(4,290
)
 
(5,156
)
Total Estimated 2015 Amortization
 
$
(6,697
)
 
$
(7,607
)
 
$
(5,074
)
 
$
(3,429
)
 
$
(4,202
)
 
 
 
 
 
 
 
 
 
 
 
Other Postretirement Benefit Plans –
Expected to be Recorded as
 
 
 
 
 
 
 
 
 
 
Regulatory Asset
 
$
(3,693
)
 
$
(6,934
)
 
$
(5,074
)
 
$
(3,429
)
 
$
(2,687
)
Deferred Income Taxes
 
(1,051
)
 
(236
)
 
—

 
—

 
(530
)
Net of Tax AOCI
 
(1,953
)
 
(437
)
 
—

 
—

 
(985
)
Total
 
$
(6,697
)
 
$
(7,607
)
 
$
(5,074
)
 
$
(3,429
)
 
$
(4,202
)
Cost for Matching Contributions to the Retirement Savings Plans
 
 
Year Ended December 31,
Company
 
2014
 
2013
 
2012
 
 
(in thousands)
APCo
 
$
7,280

 
$
7,366

 
$
7,579

I&M
 
10,461

 
10,010

 
9,706

OPCo
 
5,207

 
6,502

 
10,798

PSO
 
4,026

 
3,784

 
3,732

SWEPCo
 
5,272

 
4,970

 
4,890
Southwestern Electric Power Co [Member]  
Health Care Trend Rates
Health Care Trend Rates
 
2014
 
2013
Initial
 
6.50
%
 
6.75
%
Ultimate
 
5.00
%
 
5.00
%
Year Ultimate Reached
 
2020

 
2020
Effect of a 1% Change in Assumed Health Care Cost Trend Rates for the OPEB Health Care Plans
 
 
APCo
 
I&M
 
OPCo
 
PSO
 
SWEPCo
 
 
(in thousands)
Effect on Total Service and Interest Cost Components of Net Periodic Postretirement Health Care Benefit Cost:
 
 
 
 
 
 
 
 
 
 
1% Increase
 
$
902

 
$
343

 
$
308

 
$
158

 
$
179

1% Decrease
 
(691
)
 
(264
)
 
(237
)
 
(121
)
 
(138
)
 
 
 
 
 
 
 
 
 
 
 
Effect on the Health Care Component of the Accumulated Postretirement Benefit Obligation:
 
 
 
 
 
 
 
 
 
 
1% Increase
 
$
17,260

 
$
7,117

 
$
7,251

 
$
3,377

 
$
3,742

1% Decrease
 
(13,614
)
 
(5,630
)
 
(5,736
)
 
(2,671
)
 
(2,960
)
Reconciliation of Changes in Benefit Obligations and Fair Value of Assets
SWEPCo
 
Pension Plans
 
Other Postretirement
Benefit Plans
 
 
2014
 
2013
 
2014
 
2013
Change in Benefit Obligation
 
(in thousands)
Benefit Obligation as of January 1,
 
$
270,564

 
$
285,560

 
$
86,997

 
$
109,948

Service Cost
 
6,618

 
7,011

 
1,012

 
1,693

Interest Cost
 
12,651

 
11,454

 
3,992

 
4,301

Actuarial (Gain) Loss
 
27,511

 
(12,818
)
 
(2,296
)
 
(23,852
)
Benefit Payments
 
(19,178
)
 
(20,643
)
 
(7,731
)
 
(8,057
)
Participant Contributions
 
—

 
—

 
2,532

 
2,410

Medicare Subsidy
 
—

 
—

 
499

 
554

Benefit Obligation as of December 31,
 
$
298,166

 
$
270,564

 
$
85,005

 
$
86,997

 
 
 
 
 
 
 
 
 
Change in Fair Value of Plan Assets
 
 
 
 
 
 
 
 
Fair Value of Plan Assets as of January 1,
 
$
278,946

 
$
279,699

 
$
107,750

 
$
99,846

Actual Gain on Plan Assets
 
26,482

 
19,823

 
3,881

 
13,551

Company Contributions
 
3,902

 
67

 
—

 
—

Participant Contributions
 
—

 
—

 
2,532

 
2,410

Benefit Payments
 
(19,178
)
 
(20,643
)
 
(7,731
)
 
(8,057
)
Fair Value of Plan Assets as of December 31,
 
$
290,152

 
$
278,946

 
$
106,432

 
$
107,750

 
 
 
 
 
 
 
 
 
Funded (Underfunded) Status as of December 31,
 
$
(8,014
)
 
$
8,382

 
$
21,427

 
$
20,753
Benefit Amounts Recognized on the Balance Sheets
 
 
Pension Plans
 
Other Postretirement
Benefit Plans
 
 
December 31,
SWEPCo
 
2014
 
2013
 
2014
 
2013
 
 
(in thousands)
Deferred Charges and Other Noncurrent Assets –
Prepaid Benefit Costs
 
$
—

 
$
9,506

 
$
21,427

 
$
19,210

Other Current Liabilities – Accrued Short-term
Benefit Liability
 
(82
)
 
(79
)
 
—

 
—

Employee Benefits and Pension Obligations –
Accrued Long-term Benefit Liability
 
(7,932
)
 
(1,045
)
 
—

 
1,543

Funded (Underfunded) Status
 
$
(8,014
)
 
$
8,382

 
$
21,427

 
$
20,753
Amounts Included in AOCI and Regulatory Assets
SWEPCo
 
Pension Plans
 
Other Postretirement
Benefit Plans
 
 
December 31,
 
 
2014
 
2013
 
2014
 
2013
Components
 
(in thousands)
Net Actuarial Loss
 
$
104,903

 
$
95,492

 
$
32,377

 
$
32,772

Prior Service Cost (Credit)
 
655

 
1,004

 
(46,826
)
 
(51,982
)
 
 
 
 
 
 
 
 
 
Recorded as
 
 
 
 
 
 
 
 
Regulatory Assets
 
$
105,558

 
$
96,496

 
$
(8,959
)
 
$
(11,836
)
Deferred Income Taxes
 
—

 
—

 
(1,921
)
 
(2,580
)
Net of Tax AOCI
 
—

 
—

 
(3,569
)
 
(4,794
)
Components of Change in Amounts Included in AOCI and Regulatory Assets
Pension Plans – Components
 
APCo
 
I&M
 
OPCo
 
PSO
 
SWEPCo
 
 
(in thousands)
Actuarial Loss During the Year
 
$
31,546

 
$
14,163

 
$
11,509

 
$
15,706

 
$
16,457

Amortization of Actuarial Loss
 
(16,593
)
 
(14,585
)
 
(12,422
)
 
(6,753
)
 
(7,046
)
Amortization of Prior Service Cost
 
(197
)
 
(195
)
 
(157
)
 
(296
)
 
(349
)
Change for the Year Ended December 31, 2014
 
$
14,756

 
$
(617
)
 
$
(1,070
)
 
$
8,657

 
$
9,062


Pension Plans – Components
 
APCo
 
I&M
 
OPCo
 
PSO
 
SWEPCo
 
 
(in thousands)
Actuarial Gain During the Year
 
$
(58,411
)
 
$
(51,388
)
 
$
(253,392
)
 
$
(19,599
)
 
$
(16,133
)
Amortization of Actuarial Loss
 
(25,025
)
 
(21,688
)
 
(19,833
)
 
(9,845
)
 
(10,214
)
Amortization of Prior Service Cost
 
(198
)
 
(195
)
 
(157
)
 
(297
)
 
(349
)
Change for the Year Ended December 31, 2013
 
$
(83,634
)
 
$
(73,271
)
 
$
(273,382
)
 
$
(29,741
)
 
$
(26,696
)
Other Postretirement Benefit Plans –
Components
 
APCo
 
I&M
 
OPCo
 
PSO
 
SWEPCo
 
 
(in thousands)
Actuarial (Gain) Loss During the Year
 
$
(2,309
)
 
$
1,863

 
$
3,226

 
$
639

 
$
840

Amortization of Actuarial Loss
 
(4,582
)
 
(2,368
)
 
(2,379
)
 
(1,109
)
 
(1,235
)
Amortization of Prior Service Credit
 
10,050

 
9,421

 
6,923

 
4,290

 
5,156

Change for the Year Ended December 31, 2014
 
$
3,159

 
$
8,916

 
$
7,770

 
$
3,820

 
$
4,761

Other Postretirement Benefit Plans –
Components
 
APCo
 
I&M
 
OPCo
 
PSO
 
SWEPCo
 
 
(in thousands)
Actuarial Gain During the Year
 
$
(82,192
)
 
$
(63,460
)
 
$
(111,922
)
 
$
(27,305
)
 
$
(30,523
)
Amortization of Actuarial Loss
 
(12,249
)
 
(7,526
)
 
(8,633
)
 
(3,476
)
 
(3,928
)
Amortization of Prior Service Credit
 
10,050

 
9,421

 
6,962

 
4,289

 
5,156

Change for the Year Ended December 31, 2013
 
$
(84,391
)
 
$
(61,565
)
 
$
(113,593
)
 
$
(26,492
)
 
$
(29,295
)
Accumulated Benefit Obligation
Accumulated Benefit Obligation
 
APCo
 
I&M
 
OPCo
 
PSO
 
SWEPCo
 
 
(in thousands)
Qualified Pension Plan
 
$
688,632

 
$
598,190

 
$
512,467

 
$
270,059

 
$
281,210

Nonqualified Pension Plans
 
464

 
470

 
69

 
2,750

 
1,749

Total as of December 31, 2014
 
$
689,096

 
$
598,660

 
$
512,536

 
$
272,809

 
$
282,959

 
 
 
 
 
 
 
 
 
 
 
Accumulated Benefit Obligation
 
APCo
 
I&M
 
OPCo
 
PSO
 
SWEPCo
 
 
(in thousands)
Qualified Pension Plan
 
$
653,968

 
$
560,443

 
$
512,798

 
$
248,472

 
$
256,083

Nonqualified Pension Plans
 
200

 
326

 
6

 
1,387

 
1,115

Total as of December 31, 2013
 
$
654,168

 
$
560,769

 
$
512,804

 
$
249,859

 
$
257,198
Underfunded Accumulated Benefit Obligation
 
APCo
 
I&M
 
OPCo
 
PSO
 
SWEPCo
 
(in thousands)
Projected Benefit Obligation
$
702,805

 
$
617,948

 
$
526,250

 
$
2,770

 
$
1,790

 
 
 
 
 
 
 
 
 
 
Accumulated Benefit Obligation
$
689,096

 
$
598,660

 
$
512,536

 
$
2,750

 
$
1,749

Fair Value of Plan Assets
642,289

 
591,737

 
498,461

 
—

 
—

Underfunded Accumulated Benefit Obligation as of December 31, 2014
$
(46,807
)
 
$
(6,923
)
 
$
(14,075
)
 
$
(2,750
)
 
$
(1,749
)
 
 
 
 
 
 
 
 
 
 
 
APCo
 
I&M
 
OPCo
 
PSO
 
SWEPCo
 
(in thousands)
Projected Benefit Obligation
$
663,231

 
$
574,699

 
$
523,643

 
$
1,394

 
$
1,124

 
 
 
 
 
 
 
 
 
 
Accumulated Benefit Obligation
$
654,168

 
$
560,769

 
$
512,804

 
$
1,387

 
$
1,115

Fair Value of Plan Assets
627,995

 
559,143

 
501,634

 
—

 
—

Underfunded Accumulated Benefit Obligation as of December 31, 2013
$
(26,173
)
 
$
(1,626
)
 
$
(11,170
)
 
$
(1,387
)
 
$
(1,115
)
Estimated Contributions and Payments to the Pension and OPEB Plans
Company
 
Pension Plans
 
Other Postretirement
Benefit Plans
 
 
(in thousands)
APCo
 
$
11,631

 
$
2,884

I&M
 
12,492

 
—

OPCo
 
7,847

 
—

PSO
 
6,656

 
—

SWEPCo
 
7,840

 
—
Estimated Payments Expected to be Made by the Pension and OPEB Plans
Pension Plans
 
APCo
 
I&M
 
OPCo
 
PSO
 
SWEPCo
 
 
(in thousands)
2015
 
$
42,859

 
$
33,114

 
$
36,277

 
$
18,950

 
$
18,872

2016
 
43,091

 
33,813

 
36,174

 
19,626

 
18,747

2017
 
43,484

 
35,748

 
35,571

 
20,175

 
20,407

2018
 
45,122

 
36,948

 
35,822

 
21,118

 
21,019

2019
 
45,488

 
38,727

 
36,179

 
21,732

 
22,059

Years 2020 to 2024, in Total
 
236,107

 
209,813

 
176,022

 
109,800

 
118,909

 
Other Postretirement Benefit Plans:
Benefit Payments
 
APCo
 
I&M
 
OPCo
 
PSO
 
SWEPCo
 
 
(in thousands)
2015
 
$
24,828

 
$
15,088

 
$
16,379

 
$
6,989

 
$
7,401

2016
 
24,603

 
15,363

 
16,289

 
7,067

 
7,504

2017
 
24,468

 
15,484

 
16,088

 
7,074

 
7,674

2018
 
24,820

 
15,637

 
16,122

 
7,132

 
7,840

2019
 
24,290

 
15,804

 
16,079

 
7,278

 
7,885

Years 2020 to 2024, in Total
 
121,401

 
84,026

 
80,066

 
38,852

 
43,503

Other Postretirement Benefit Plans:
Medicare Subsidy Receipts
 
APCo
 
I&M
 
OPCo
 
PSO
 
SWEPCo
 
 
(in thousands)
2015
 
$
232

 
$
—

 
$
—

 
$
—

 
$
—

2016
 
236

 
—

 
—

 
—

 
—

2017
 
234

 
—

 
—

 
—

 
—

2018
 
231

 
—

 
—

 
—

 
—

2019
 
230

 
—

 
—

 
—

 
—

Years 2020 to 2024, in Total
 
1,080

 
—

 
—

 
—

 
—
Components of Net Periodic Benefit Cost
SWEPCo
Pension Plans
 
Other Postretirement
Benefit Plans
 
Years Ended December 31,
 
2014
 
2013
 
2012
 
2014
 
2013
 
2012
 
(in thousands)
Service Cost
$
6,618

 
$
7,011

 
$
7,099

 
$
1,012

 
$
1,693

 
$
3,324

Interest Cost
12,651

 
11,454

 
12,537

 
3,992

 
4,301

 
6,673

Expected Return on Plan Assets
(15,427
)
 
(16,509
)
 
(18,866
)
 
(7,016
)
 
(6,881
)
 
(6,795
)
Amortization of Prior Service Cost (Credit)
349

 
349

 
(793
)
 
(5,156
)
 
(5,156
)
 
(933
)
Amortization of Net Actuarial Loss
7,046

 
10,214

 
8,330

 
1,235

 
3,928

 
3,659

Net Periodic Benefit Cost (Credit)
11,237

 
12,519

 
8,307

 
(5,933
)
 
(2,115
)
 
5,928

Capitalized Portion
(3,391
)
 
(3,518
)
 
(2,924
)
 
1,791

 
594

 
(2,087
)
Net Periodic Benefit Cost (Credit) Recognized in Expense
$
7,846

 
$
9,001

 
$
5,383

 
$
(4,142
)
 
$
(1,521
)
 
$
3,841
Estimated Amounts to be Amortized to Net Periodic Benefit Costs
 
 
APCo
 
I&M
 
OPCo
 
PSO
 
SWEPCo
Pension Plans – Components
 
(in thousands)
Net Actuarial Loss
 
$
14,457

 
$
12,713

 
$
10,823

 
$
5,891

 
$
6,146

Prior Service Cost
 
180

 
181

 
140

 
252

 
308

Total Estimated 2015 Amortization
 
$
14,637

 
$
12,894

 
$
10,963

 
$
6,143

 
$
6,454

 
 
 
 
 
 
 
 
 
 
 
Pension Plans –
Expected to be Recorded as
 
 
 
 
 
 
 
 
 
 
Regulatory Asset
 
$
14,560

 
$
12,114

 
$
10,963

 
$
6,143

 
$
6,454

Deferred Income Taxes
 
27

 
273

 
—

 
—

 
—

Net of Tax AOCI
 
50

 
507

 
—

 
—

 
—

Total
 
$
14,637

 
$
12,894

 
$
10,963

 
$
6,143

 
$
6,454

 
 
 
 
 
 
 
 
 
 
 
 
 
APCo
 
I&M
 
OPCo
 
PSO
 
SWEPCo
Other Postretirement Benefit Plans –
Components
 
(in thousands)
Net Actuarial Loss
 
$
3,353

 
$
1,814

 
$
1,848

 
$
861

 
$
954

Prior Service Credit
 
(10,050
)
 
(9,421
)
 
(6,922
)
 
(4,290
)
 
(5,156
)
Total Estimated 2015 Amortization
 
$
(6,697
)
 
$
(7,607
)
 
$
(5,074
)
 
$
(3,429
)
 
$
(4,202
)
 
 
 
 
 
 
 
 
 
 
 
Other Postretirement Benefit Plans –
Expected to be Recorded as
 
 
 
 
 
 
 
 
 
 
Regulatory Asset
 
$
(3,693
)
 
$
(6,934
)
 
$
(5,074
)
 
$
(3,429
)
 
$
(2,687
)
Deferred Income Taxes
 
(1,051
)
 
(236
)
 
—

 
—

 
(530
)
Net of Tax AOCI
 
(1,953
)
 
(437
)
 
—

 
—

 
(985
)
Total
 
$
(6,697
)
 
$
(7,607
)
 
$
(5,074
)
 
$
(3,429
)
 
$
(4,202
)
Cost for Matching Contributions to the Retirement Savings Plans
 
 
Year Ended December 31,
Company
 
2014
 
2013
 
2012
 
 
(in thousands)
APCo
 
$
7,280

 
$
7,366

 
$
7,579

I&M
 
10,461

 
10,010

 
9,706

OPCo
 
5,207

 
6,502

 
10,798

PSO
 
4,026

 
3,784

 
3,732

SWEPCo
 
5,272

 
4,970

 
4,890
Pension Plans [Member]  
Assets within Fair Value Hierarchy
Asset Class
 
Level 1
 
Level 2
 
Level 3
 
Other
 
Total
 
Year End
Allocation
 
 
(in millions)
 
 
Equities:
 
 
 
 
 
 
 
 
 
 
 
 
Domestic
 
$
1,092

 
$
—

 
$
—

 
$
—

 
$
1,092

 
23.2
 %
International
 
514

 
—

 
—

 
—

 
514

 
10.9
 %
Real Estate Investment Trusts
 
58

 
—

 
—

 
—

 
58

 
1.2
 %
Common Collective Trust – International
 
—

 
10

 
—

 
—

 
10

 
0.2
 %
Subtotal – Equities
 
1,664

 
10

 
—

 
—

 
1,674

 
35.5
 %
 
 
 
 
 
 
 
 
 
 
 
 
 
Fixed Income:
 
 
 
 
 
 
 
 
 
 
 
 
Common Collective Trust – Debt
 
—

 
26

 
—

 
—

 
26

 
0.5
 %
United States Government and Agency Securities
 
—

 
387

 
—

 
—

 
387

 
8.2
 %
Corporate Debt
 
—

 
1,600

 
—

 
—

 
1,600

 
34.0
 %
Foreign Debt
 
—

 
344

 
—

 
—

 
344

 
7.3
 %
State and Local Government
 
—

 
28

 
—

 
—

 
28

 
0.6
 %
Other – Asset Backed
 
—

 
33

 
—

 
—

 
33

 
0.7
 %
Subtotal – Fixed Income
 
—

 
2,418

 
—

 
—

 
2,418

 
51.3
 %
 
 
 
 
 
 
 
 
 
 
 
 
 
Real Estate
 
—

 
—

 
238

 
—

 
238

 
5.0
 %
Alternative Investments
 
—

 
—

 
330

 
—

 
330

 
7.0
 %
Securities Lending
 
—

 
35

 
—

 
—

 
35

 
0.8
 %
Securities Lending Collateral (a)
 
—

 
—

 
—

 
(45
)
 
(45
)
 
(0.9
)%
Cash and Cash Equivalents
 
—

 
48

 
—

 
—

 
48

 
1.0
 %
Other – Pending Transactions and Accrued Income (b)
 
—

 
—

 
—

 
13

 
13

 
0.3
 %
 
 
 
 
 
 
 
 
 
 
 
 
 
Total
 
$
1,664

 
$
2,511

 
$
568

 
$
(32
)
 
$
4,711

 
100.0
 %

(a)
Amounts in "Other" column primarily represent an obligation to repay collateral received as part of the Securities Lending Program.
(b)
Amounts in "Other" column primarily represent accrued interest, dividend receivables and transactions pending settlement.

Asset Class
 
Level 1
 
Level 2
 
Level 3
 
Other
 
Total
 
Year End
Allocation
 
 
(in millions)
 
 
Equities:
 
 
 
 
 
 
 
 
 
 
 
 
Domestic
 
$
589

 
$
—

 
$
—

 
$
—

 
$
589

 
11.9
 %
International
 
502

 
—

 
—

 
—

 
502

 
10.1
 %
Options
 
—

 
14

 
—

 
—

 
14

 
0.3
 %
Real Estate Investment Trusts
 
54

 
—

 
—

 
—

 
54

 
1.1
 %
Common Collective Trust – Global
 
—

 
377

 
—

 
—

 
377

 
7.6
 %
Common Collective Trust – International
 
—

 
19

 
—

 
—

 
19

 
0.4
 %
Subtotal – Equities
 
1,145

 
410

 
—

 
—

 
1,555

 
31.4
 %
 
 
 
 
 
 
 
 
 
 
 
 
 
Fixed Income:
 
 
 
 
 
 
 
 
 
 
 
 
Common Collective Trust – Debt
 
—

 
30

 
—

 
—

 
30

 
0.6
 %
United States Government and Agency Securities
 
—

 
450

 
—

 
—

 
450

 
9.0
 %
Corporate Debt
 
—

 
1,799

 
—

 
—

 
1,799

 
36.2
 %
Foreign Debt
 
—

 
401

 
—

 
—

 
401

 
8.1
 %
State and Local Government
 
—

 
15

 
—

 
—

 
15

 
0.3
 %
Other – Asset Backed
 
—

 
29

 
—

 
—

 
29

 
0.6
 %
Subtotal – Fixed Income
 
—

 
2,724

 
—

 
—

 
2,724

 
54.8
 %
 
 
 
 
 
 
 
 
 
 
 
 
 
Infrastructure
 
—

 
—

 
13

 
—

 
13

 
0.3
 %
Real Estate
 
—

 
—

 
236

 
—

 
236

 
4.7
 %
Alternative Investments
 
—

 
—

 
379

 
—

 
379

 
7.6
 %
Securities Lending
 
—

 
220

 
—

 
—

 
220

 
4.4
 %
Securities Lending Collateral (a)
 
—

 
—

 
—

 
(222
)
 
(222
)
 
(4.5
)%
Cash and Cash Equivalents
 
—

 
53

 
—

 
—

 
53

 
1.1
 %
Other – Pending Transactions and Accrued Income (b)
 
—

 
—

 
—

 
10

 
10

 
0.2
 %
 
 
 
 
 
 
 
 
 
 
 
 
 
Total
 
$
1,145

 
$
3,407

 
$
628

 
$
(212
)
 
$
4,968

 
100.0
 %

(a)
Amounts in "Other" column primarily represent an obligation to repay collateral received as part of the Securities Lending Program.
(b)
Amounts in "Other" column primarily represent accrued interest, dividend receivables and transactions pending settlement.
Pension Plan Assets Level 3 Reconciliation
 
 
Infrastructure
 
Real
Estate
 
Alternative
Investments
 
Total
Level 3
 
 
(in millions)
Balance as of January 1, 2014
 
$
—

 
$
238

 
$
330

 
$
568

Actual Return on Plan Assets
 
 
 
 
 
 
 
 
Relating to Assets Still Held as of the Reporting Date
 
—

 
6

 
32

 
38

Relating to Assets Sold During the Period
 
—

 
19

 
16

 
35

Purchases and Sales
 
13

 
(27
)
 
1

 
(13
)
Transfers into Level 3
 
—

 
—

 
—

 
—

Transfers out of Level 3
 
—

 
—

 
—

 
—

Balance as of December 31, 2014
 
$
13

 
$
236

 
$
379

 
$
628

 
 
Real
Estate
 
Alternative
Investments
 
Total
Level 3
 
 
(in millions)
Balance as of January 1, 2013
 
$
220

 
$
195

 
$
415

Actual Return on Plan Assets
 
 
 
 
 
 
Relating to Assets Still Held as of the Reporting Date
 
26

 
15

 
41

Relating to Assets Sold During the Period
 
—

 
15

 
15

Purchases and Sales
 
(8
)
 
105

 
97

Transfers into Level 3
 
—

 
—

 
—

Transfers out of Level 3
 
—

 
—

 
—

Balance as of December 31, 2013
 
$
238

 
$
330

 
$
568
Pension Plans [Member] | Appalachian Power Co [Member]  
Assets within Fair Value Hierarchy
APCo
 
 
 
 
 
 
 
 
 
 
 
 
Asset Class
 
Level 1
 
Level 2
 
Level 3
 
Other
 
Total
 
Year End
Allocation
 
 
(in thousands)
 
 
Equities:
 
 
 
 
 
 
 
 
 
 
 
 
Domestic
 
$
145,515

 
$
—

 
$
—

 
$
—

 
$
145,515

 
23.2
 %
International
 
68,591

 
—

 
—

 
—

 
68,591

 
10.9
 %
Real Estate Investment Trusts
 
7,718

 
—

 
—

 
—

 
7,718

 
1.2
 %
Common Collective Trust – International
 
—

 
1,302

 
—

 
—

 
1,302

 
0.2
 %
Subtotal – Equities
 
221,824

 
1,302

 
—

 
—

 
223,126

 
35.5
 %
 
 
 
 
 
 
 
 
 
 
 
 
 
Fixed Income:
 
 
 
 
 
 
 
 
 
 
 
 
Common Collective Trust – Debt
 
—

 
3,456

 
—

 
—

 
3,456

 
0.5
 %
United States Government and Agency Securities
 
—

 
51,556

 
—

 
—

 
51,556

 
8.2
 %
Corporate Debt
 
—

 
213,280

 
—

 
—

 
213,280

 
34.0
 %
Foreign Debt
 
—

 
45,818

 
—

 
—

 
45,818

 
7.3
 %
State and Local Government
 
—

 
3,730

 
—

 
—

 
3,730

 
0.6
 %
Other – Asset Backed
 
—

 
4,437

 
—

 
—

 
4,437

 
0.7
 %
Subtotal – Fixed Income
 
—

 
322,277

 
—

 
—

 
322,277

 
51.3
 %
 
 
 
 
 
 
 
 
 
 
 
 
 
Real Estate
 
—

 
—

 
31,757

 
—

 
31,757

 
5.0
 %
Alternative Investments
 
—

 
—

 
43,939

 
—

 
43,939

 
7.0
 %
Securities Lending
 
—

 
4,689

 
—

 
—

 
4,689

 
0.8
 %
Securities Lending Collateral (a)
 
—

 
—

 
—

 
(6,024
)
 
(6,024
)
 
(0.9
)%
Cash and Cash Equivalents
 
—

 
6,476

 
—

 
—

 
6,476

 
1.0
 %
Other – Pending Transactions and Accrued Income (b)
 
—

 
—

 
—

 
1,755

 
1,755

 
0.3
 %
 
 
 
 
 
 
 
 
 
 
 
 
 
Total
 
$
221,824

 
$
334,744

 
$
75,696

 
$
(4,269
)
 
$
627,995

 
100.0
 %


(a)
Amounts in "Other" column primarily represent an obligation to repay collateral received as part of the Securities Lending Program.
(b)
Amounts in "Other" column primarily represent accrued interest, dividend receivables and transactions pending settlement.
APCo
 
 
 
 
 
 
 
 
 
 
 
 
Asset Class
 
Level 1
 
Level 2
 
Level 3
 
Other
 
Total
 
Year End
Allocation
 
 
(in thousands)
 
 
Equities:
 
 
 
 
 
 
 
 
 
 
 
 
Domestic
 
$
76,107

 
$
—

 
$
—

 
$
—

 
$
76,107

 
11.9
 %
International
 
64,930

 
—

 
—

 
—

 
64,930

 
10.1
 %
Options
 
—

 
1,822

 
—

 
—

 
1,822

 
0.3
 %
Real Estate Investment Trusts
 
7,019

 
—

 
—

 
—

 
7,019

 
1.1
 %
Common Collective Trust – Global
 
—

 
48,751

 
—

 
—

 
48,751

 
7.6
 %
Common Collective Trust – International
 
—

 
2,390

 
—

 
—

 
2,390

 
0.4
 %
Subtotal – Equities
 
148,056

 
52,963

 
—

 
—

 
201,019

 
31.4
 %
 
 
 
 
 
 
 
 
 
 
 
 
 
Fixed Income:
 
 
 
 
 
 
 
 
 
 
 
 
Common Collective Trust – Debt
 
—

 
3,904

 
—

 
—

 
3,904

 
0.6
 %
United States Government and Agency Securities
 
—

 
58,164

 
—

 
—

 
58,164

 
9.0
 %
Corporate Debt
 
—

 
232,667

 
—

 
—

 
232,667

 
36.2
 %
Foreign Debt
 
—

 
51,806

 
—

 
—

 
51,806

 
8.1
 %
State and Local Government
 
—

 
1,927

 
—

 
—

 
1,927

 
0.3
 %
Other – Asset Backed
 
—

 
3,766

 
—

 
—

 
3,766

 
0.6
 %
Subtotal – Fixed Income
 
—

 
352,234

 
—

 
—

 
352,234

 
54.8
 %
 
 
 
 
 
 
 
 
 
 
 
 
 
Infrastructure
 
—

 
—

 
1,617

 
—

 
1,617

 
0.3
 %
Real Estate
 
—

 
—

 
30,487

 
—

 
30,487

 
4.7
 %
Alternative Investments
 
—

 
—

 
48,985

 
—

 
48,985

 
7.6
 %
Securities Lending
 
—

 
28,414

 
—

 
—

 
28,414

 
4.4
 %
Securities Lending Collateral (a)
 
—

 
—

 
—

 
(28,641
)
 
(28,641
)
 
(4.5
)%
Cash and Cash Equivalents
 
—

 
6,888

 
—

 
—

 
6,888

 
1.1
 %
Other – Pending Transactions and Accrued Income (b)
 
—

 
—

 
—

 
1,286

 
1,286

 
0.2
 %
 
 
 
 
 
 
 
 
 
 
 
 
 
Total
 
$
148,056

 
$
440,499

 
$
81,089

 
$
(27,355
)
 
$
642,289

 
100.0
 %


(a)
Amounts in "Other" column primarily represent an obligation to repay collateral received as part of the Securities Lending Program.
(b)
Amounts in "Other" column primarily represent accrued interest, dividend receivables and transactions pending settlement.
Pension Plan Assets Level 3 Reconciliation
APCo
 
Real
Estate
 
Alternative
Investments
 
Total
Level 3
 
 
(in thousands)
Balance as of January 1, 2013
 
$
29,063

 
$
25,888

 
$
54,951

Actual Return on Plan Assets
 
 
 
 
 
 
Relating to Assets Still Held as of the Reporting Date
 
3,861

 
1,932

 
5,793

Relating to Assets Sold During the Period
 
—

 
1,949

 
1,949

Purchases and Sales
 
(1,167
)
 
14,170

 
13,003

Transfers into Level 3
 
—

 
—

 
—

Transfers out of Level 3
 
—

 
—

 
—

Balance as of December 31, 2013
 
$
31,757

 
$
43,939

 
$
75,696

APCo
 
Infrastructure
 
Real
Estate
 
Alternative
Investments
 
Total
Level 3
 
 
(in thousands)
Balance as of January 1, 2014
 
$
—

 
$
31,757

 
$
43,939

 
$
75,696

Actual Return on Plan Assets
 
 
 
 
 
 
 
 
Relating to Assets Still Held as of the Reporting Date
 
—

 
2,829

 
3,276

 
6,105

Relating to Assets Sold During the Period
 
—

 
9,831

 
1,616

 
11,447

Purchases and Sales
 
1,617

 
(13,930
)
 
154

 
(12,159
)
Transfers into Level 3
 
—

 
—

 
—

 
—

Transfers out of Level 3
 
—

 
—

 
—

 
—

Balance as of December 31, 2014
 
$
1,617

 
$
30,487

 
$
48,985

 
$
81,089
Pension Plans [Member] | Indiana Michigan Power Co [Member]  
Assets within Fair Value Hierarchy
I&M
 
 
 
 
 
 
 
 
 
 
 
 
Asset Class
 
Level 1
 
Level 2
 
Level 3
 
Other
 
Total
 
Year End
Allocation
 
 
(in thousands)
 
 
Equities:
 
 
 
 
 
 
 
 
 
 
 
 
Domestic
 
$
129,561

 
$
—

 
$
—

 
$
—

 
$
129,561

 
23.2
 %
International
 
61,071

 
—

 
—

 
—

 
61,071

 
10.9
 %
Real Estate Investment Trusts
 
6,872

 
—

 
—

 
—

 
6,872

 
1.2
 %
Common Collective Trust – International
 
—

 
1,159

 
—

 
—

 
1,159

 
0.2
 %
Subtotal – Equities
 
197,504

 
1,159

 
—

 
—

 
198,663

 
35.5
 %
 
 
 
 
 
 
 
 
 
 
 
 
 
Fixed Income:
 
 
 
 
 
 
 
 
 
 
 
 
Common Collective Trust – Debt
 
—

 
3,077

 
—

 
—

 
3,077

 
0.5
 %
United States Government and Agency Securities
 
—

 
45,904

 
—

 
—

 
45,904

 
8.2
 %
Corporate Debt
 
—

 
189,896

 
—

 
—

 
189,896

 
34.0
 %
Foreign Debt
 
—

 
40,794

 
—

 
—

 
40,794

 
7.3
 %
State and Local Government
 
—

 
3,321

 
—

 
—

 
3,321

 
0.6
 %
Other – Asset Backed
 
—

 
3,951

 
—

 
—

 
3,951

 
0.7
 %
Subtotal – Fixed Income
 
—

 
286,943

 
—

 
—

 
286,943

 
51.3
 %
 
 
 
 
 
 
 
 
 
 
 
 
 
Real Estate
 
—

 
—

 
28,275

 
—

 
28,275

 
5.0
 %
Alternative Investments
 
—

 
—

 
39,121

 
—

 
39,121

 
7.0
 %
Securities Lending
 
—

 
4,175

 
—

 
—

 
4,175

 
0.8
 %
Securities Lending Collateral (a)
 
—

 
—

 
—

 
(5,363
)
 
(5,363
)
 
(0.9
)%
Cash and Cash Equivalents
 
—

 
5,766

 
—

 
—

 
5,766

 
1.0
 %
Other – Pending Transactions and Accrued Income (b)
 
—

 
—

 
—

 
1,563

 
1,563

 
0.3
 %
 
 
 
 
 
 
 
 
 
 
 
 
 
Total
 
$
197,504

 
$
298,043

 
$
67,396

 
$
(3,800
)
 
$
559,143

 
100.0
 %


(a)
Amounts in "Other" column primarily represent an obligation to repay collateral received as part of the Securities Lending Program.
(b)
Amounts in "Other" column primarily represent accrued interest, dividend receivables and transactions pending settlement.
I&M
 
 
 
 
 
 
 
 
 
 
 
 
Asset Class
 
Level 1
 
Level 2
 
Level 3
 
Other
 
Total
 
Year End
Allocation
 
 
(in thousands)
 
 
Equities:
 
 
 
 
 
 
 
 
 
 
 
 
Domestic
 
$
70,116

 
$
—

 
$
—

 
$
—

 
$
70,116

 
11.9
 %
International
 
59,820

 
—

 
—

 
—

 
59,820

 
10.1
 %
Options
 
—

 
1,678

 
—

 
—

 
1,678

 
0.3
 %
Real Estate Investment Trusts
 
6,467

 
—

 
—

 
—

 
6,467

 
1.1
 %
Common Collective Trust – Global
 
—

 
44,914

 
—

 
—

 
44,914

 
7.6
 %
Common Collective Trust – International
 
—

 
2,201

 
—

 
—

 
2,201

 
0.4
 %
Subtotal – Equities
 
136,403

 
48,793

 
—

 
—

 
185,196

 
31.4
 %
 
 
 
 
 
 
 
 
 
 
 
 
 
Fixed Income:
 
 
 
 
 
 
 
 
 
 
 
 
Common Collective Trust – Debt
 
—

 
3,597

 
—

 
—

 
3,597

 
0.6
 %
United States Government and Agency Securities
 
—

 
53,586

 
—

 
—

 
53,586

 
9.0
 %
Corporate Debt
 
—

 
214,355

 
—

 
—

 
214,355

 
36.2
 %
Foreign Debt
 
—

 
47,728

 
—

 
—

 
47,728

 
8.1
 %
State and Local Government
 
—

 
1,775

 
—

 
—

 
1,775

 
0.3
 %
Other – Asset Backed
 
—

 
3,470

 
—

 
—

 
3,470

 
0.6
 %
Subtotal – Fixed Income
 
—

 
324,511

 
—

 
—

 
324,511

 
54.8
 %
 
 
 
 
 
 
 
 
 
 
 
 
 
Infrastructure
 
—

 
—

 
1,490

 
—

 
1,490

 
0.3
 %
Real Estate
 
—

 
—

 
28,088

 
—

 
28,088

 
4.7
 %
Alternative Investments
 
—

 
—

 
45,130

 
—

 
45,130

 
7.6
 %
Securities Lending
 
—

 
26,178

 
—

 
—

 
26,178

 
4.4
 %
Securities Lending Collateral (a)
 
—

 
—

 
—

 
(26,386
)
 
(26,386
)
 
(4.5
)%
Cash and Cash Equivalents
 
—

 
6,345

 
—

 
—

 
6,345

 
1.1
 %
Other – Pending Transactions and Accrued Income (b)
 
—

 
—

 
—

 
1,185

 
1,185

 
0.2
 %
 
 
 
 
 
 
 
 
 
 
 
 
 
Total
 
$
136,403

 
$
405,827

 
$
74,708

 
$
(25,201
)
 
$
591,737

 
100.0
 %


(a)
Amounts in "Other" column primarily represent an obligation to repay collateral received as part of the Securities Lending Program.
(b)
Amounts in "Other" column primarily represent accrued interest, dividend receivables and transactions pending settlement.
Pension Plan Assets Level 3 Reconciliation
I&M
 
Real
Estate
 
Alternative
Investments
 
Total
Level 3
 
 
(in thousands)
Balance as of January 1, 2013
 
$
25,811

 
$
22,992

 
$
48,803

Actual Return on Plan Assets
 
 
 
 
 
 
Relating to Assets Still Held as of the Reporting Date
 
3,531

 
1,727

 
5,258

Relating to Assets Sold During the Period
 
—

 
1,741

 
1,741

Purchases and Sales
 
(1,067
)
 
12,661

 
11,594

Transfers into Level 3
 
—

 
—

 
—

Transfers out of Level 3
 
—

 
—

 
—

Balance as of December 31, 2013
 
$
28,275

 
$
39,121

 
$
67,396

I&M
 
Infrastructure
 
Real
Estate
 
Alternative
Investments
 
Total
Level 3
 
 
(in thousands)
Balance as of January 1, 2014
 
$
—

 
$
28,275

 
$
39,121

 
$
67,396

Actual Return on Plan Assets
 
 
 
 
 
 
 
 
Relating to Assets Still Held as of the Reporting Date
 
—

 
417

 
3,902

 
4,319

Relating to Assets Sold During the Period
 
—

 
1,448

 
1,924

 
3,372

Purchases and Sales
 
1,490

 
(2,052
)
 
183

 
(379
)
Transfers into Level 3
 
—

 
—

 
—

 
—

Transfers out of Level 3
 
—

 
—

 
—

 
—

Balance as of December 31, 2014
 
$
1,490

 
$
28,088

 
$
45,130

 
$
74,708
Pension Plans [Member] | Ohio Power Co [Member]  
Assets within Fair Value Hierarchy
OPCo
 
 
 
 
 
 
 
 
 
 
 
 
Asset Class
 
Level 1
 
Level 2
 
Level 3
 
Other
 
Total
 
Year End
Allocation
 
 
(in thousands)
 
 
Equities:
 
 
 
 
 
 
 
 
 
 
 
 
Domestic
 
$
59,064

 
$
—

 
$
—

 
$
—

 
$
59,064

 
11.9
 %
International
 
50,390

 
—

 
—

 
—

 
50,390

 
10.1
 %
Options
 
—

 
1,414

 
—

 
—

 
1,414

 
0.3
 %
Real Estate Investment Trusts
 
5,448

 
—

 
—

 
—

 
5,448

 
1.1
 %
Common Collective Trust – Global
 
—

 
37,834

 
—

 
—

 
37,834

 
7.6
 %
Common Collective Trust – International
 
—

 
1,854

 
—

 
—

 
1,854

 
0.4
 %
Subtotal – Equities
 
114,902

 
41,102

 
—

 
—

 
156,004

 
31.4
 %
 
 
 
 
 
 
 
 
 
 
 
 
 
Fixed Income:
 
 
 
 
 
 
 
 
 
 
 
 
Common Collective Trust – Debt
 
—

 
3,030

 
—

 
—

 
3,030

 
0.6
 %
United States Government and Agency Securities
 
—

 
45,139

 
—

 
—

 
45,139

 
9.0
 %
Corporate Debt
 
—

 
180,566

 
—

 
—

 
180,566

 
36.2
 %
Foreign Debt
 
—

 
40,205

 
—

 
—

 
40,205

 
8.1
 %
State and Local Government
 
—

 
1,496

 
—

 
—

 
1,496

 
0.3
 %
Other – Asset Backed
 
—

 
2,923

 
—

 
—

 
2,923

 
0.6
 %
Subtotal – Fixed Income
 
—

 
273,359

 
—

 
—

 
273,359

 
54.8
 %
 
 
 
 
 
 
 
 
 
 
 
 
 
Infrastructure
 
—

 
—

 
1,255

 
—

 
1,255

 
0.3
 %
Real Estate
 
—

 
—

 
23,660

 
—

 
23,660

 
4.7
 %
Alternative Investments
 
—

 
—

 
38,016

 
—

 
38,016

 
7.6
 %
Securities Lending
 
—

 
22,051

 
—

 
—

 
22,051

 
4.4
 %
Securities Lending Collateral (a)
 
—

 
—

 
—

 
(22,227
)
 
(22,227
)
 
(4.5
)%
Cash and Cash Equivalents
 
—

 
5,345

 
—

 
—

 
5,345

 
1.1
 %
Other – Pending Transactions and Accrued Income (b)
 
—

 
—

 
—

 
998

 
998

 
0.2
 %
 
 
 
 
 
 
 
 
 
 
 
 
 
Total
 
$
114,902

 
$
341,857

 
$
62,931

 
$
(21,229
)
 
$
498,461

 
100.0
 %


(a)
Amounts in "Other" column primarily represent an obligation to repay collateral received as part of the Securities Lending Program.
(b)
Amounts in "Other" column primarily represent accrued interest, dividend receivables and transactions pending settlement.
OPCo
 
 
 
 
 
 
 
 
 
 
 
 
Asset Class
 
Level 1
 
Level 2
 
Level 3
 
Other
 
Total
 
Year End
Allocation
 
 
(in thousands)
 
 
Equities:
 
 
 
 
 
 
 
 
 
 
 
 
Domestic
 
$
116,233

 
$
—

 
$
—

 
$
—

 
$
116,233

 
23.2
 %
International
 
54,790

 
—

 
—

 
—

 
54,790

 
10.9
 %
Real Estate Investment Trusts
 
6,165

 
—

 
—

 
—

 
6,165

 
1.2
 %
Common Collective Trust – International
 
—

 
1,040

 
—

 
—

 
1,040

 
0.2
 %
Subtotal – Equities
 
177,188

 
1,040

 
—

 
—

 
178,228

 
35.5
 %
 
 
 
 
 
 
 
 
 
 
 
 
 
Fixed Income:
 
 
 
 
 
 
 
 
 
 
 
 
Common Collective Trust – Debt
 
—

 
2,761

 
—

 
—

 
2,761

 
0.5
 %
United States Government and Agency Securities
 
—

 
41,183

 
—

 
—

 
41,183

 
8.2
 %
Corporate Debt
 
—

 
170,365

 
—

 
—

 
170,365

 
34.0
 %
Foreign Debt
 
—

 
36,599

 
—

 
—

 
36,599

 
7.3
 %
State and Local Government
 
—

 
2,980

 
—

 
—

 
2,980

 
0.6
 %
Other – Asset Backed
 
—

 
3,545

 
—

 
—

 
3,545

 
0.7
 %
Subtotal – Fixed Income
 
—

 
257,433

 
—

 
—

 
257,433

 
51.3
 %
 
 
 
 
 
 
 
 
 
 
 
 
 
Real Estate
 
—

 
—

 
25,367

 
—

 
25,367

 
5.0
 %
Alternative Investments
 
—

 
—

 
35,098

 
—

 
35,098

 
7.0
 %
Securities Lending
 
—

 
3,745

 
—

 
—

 
3,745

 
0.8
 %
Securities Lending Collateral (a)
 
—

 
—

 
—

 
(4,812
)
 
(4,812
)
 
(0.9
)%
Cash and Cash Equivalents
 
—

 
5,173

 
—

 
—

 
5,173

 
1.0
 %
Other – Pending Transactions and Accrued Income (b)
 
—

 
—

 
—

 
1,402

 
1,402

 
0.3
 %
 
 
 
 
 
 
 
 
 
 
 
 
 
Total
 
$
177,188

 
$
267,391

 
$
60,465

 
$
(3,410
)
 
$
501,634

 
100.0
 %


(a)
Amounts in "Other" column primarily represent an obligation to repay collateral received as part of the Securities Lending Program.
(b)
Amounts in "Other" column primarily represent accrued interest, dividend receivables and transactions pending settlement.
Pension Plan Assets Level 3 Reconciliation
OPCo
 
Real
Estate
 
Alternative
Investments
 
Total
Level 3
 
 
(in thousands)
Balance as of January 1, 2013
 
$
47,464

 
$
42,279

 
$
89,743

Transfer of OPCo Generation Plan Assets
 
(26,218
)
 
(36,275
)
 
(62,493
)
Actual Return on Plan Assets
 
 
 
 
 
 
Relating to Assets Still Held as of the Reporting Date
 
5,907

 
3,113

 
9,020

Relating to Assets Sold During the Period
 
—

 
3,142

 
3,142

Purchases and Sales
 
(1,786
)
 
22,839

 
21,053

Transfers into Level 3
 
—

 
—

 
—

Transfers out of Level 3
 
—

 
—

 
—

Balance as of December 31, 2013
 
$
25,367

 
$
35,098

 
$
60,465

OPCo
 
Infrastructure
 
Real
Estate
 
Alternative
Investments
 
Total
Level 3
 
 
(in thousands)
Balance as of January 1, 2014
 
$
—

 
$
25,367

 
$
35,098

 
$
60,465

Actual Return on Plan Assets
 
 
 
 
 
 
 
 
Relating to Assets Still Held as of the Reporting Date
 
—

 
3,802

 
1,895

 
5,697

Relating to Assets Sold During the Period
 
—

 
13,219

 
934

 
14,153

Purchases and Sales
 
1,255

 
(18,728
)
 
89

 
(17,384
)
Transfers into Level 3
 
—

 
—

 
—

 
—

Transfers out of Level 3
 
—

 
—

 
—

 
—

Balance as of December 31, 2014
 
$
1,255

 
$
23,660

 
$
38,016

 
$
62,931
Pension Plans [Member] | Public Service Co Of Oklahoma [Member]  
Assets within Fair Value Hierarchy
PSO
 
 
 
 
 
 
 
 
 
 
 
 
Asset Class
 
Level 1
 
Level 2
 
Level 3
 
Other
 
Total
 
Year End
Allocation
 
 
(in thousands)
 
 
Equities:
 
 
 
 
 
 
 
 
 
 
 
 
Domestic
 
$
61,309

 
$
—

 
$
—

 
$
—

 
$
61,309

 
23.2
 %
International
 
28,900

 
—

 
—

 
—

 
28,900

 
10.9
 %
Real Estate Investment Trusts
 
3,252

 
—

 
—

 
—

 
3,252

 
1.2
 %
Common Collective Trust – International
 
—

 
548

 
—

 
—

 
548

 
0.2
 %
Subtotal – Equities
 
93,461

 
548

 
—

 
—

 
94,009

 
35.5
 %
 
 
 
 
 
 
 
 
 
 
 
 
 
Fixed Income:
 
 
 
 
 
 
 
 
 
 
 
 
Common Collective Trust – Debt
 
—

 
1,456

 
—

 
—

 
1,456

 
0.5
 %
United States Government and Agency Securities
 
—

 
21,723

 
—

 
—

 
21,723

 
8.2
 %
Corporate Debt
 
—

 
89,863

 
—

 
—

 
89,863

 
34.0
 %
Foreign Debt
 
—

 
19,305

 
—

 
—

 
19,305

 
7.3
 %
State and Local Government
 
—

 
1,572

 
—

 
—

 
1,572

 
0.6
 %
Other – Asset Backed
 
—

 
1,870

 
—

 
—

 
1,870

 
0.7
 %
Subtotal – Fixed Income
 
—

 
135,789

 
—

 
—

 
135,789

 
51.3
 %
 
 
 
 
 
 
 
 
 
 
 
 
 
Real Estate
 
—

 
—

 
13,380

 
—

 
13,380

 
5.0
 %
Alternative Investments
 
—

 
—

 
18,513

 
—

 
18,513

 
7.0
 %
Securities Lending
 
—

 
1,976

 
—

 
—

 
1,976

 
0.8
 %
Securities Lending Collateral (a)
 
—

 
—

 
—

 
(2,538
)
 
(2,538
)
 
(0.9
)%
Cash and Cash Equivalents
 
—

 
2,729

 
—

 
—

 
2,729

 
1.0
 %
Other – Pending Transactions and Accrued Income (b)
 
—

 
—

 
—

 
739

 
739

 
0.3
 %
 
 
 
 
 
 
 
 
 
 
 
 
 
Total
 
$
93,461

 
$
141,042

 
$
31,893

 
$
(1,799
)
 
$
264,597

 
100.0
 %


(a)
Amounts in "Other" column primarily represent an obligation to repay collateral received as part of the Securities Lending Program.
(b)
Amounts in "Other" column primarily represent accrued interest, dividend receivables and transactions pending settlement.
PSO
 
 
 
 
 
 
 
 
 
 
 
 
Asset Class
 
Level 1
 
Level 2
 
Level 3
 
Other
 
Total
 
Year End
Allocation
 
 
(in thousands)
 
 
Equities:
 
 
 
 
 
 
 
 
 
 
 
 
Domestic
 
$
32,642

 
$
—

 
$
—

 
$
—

 
$
32,642

 
11.9
 %
International
 
27,849

 
—

 
—

 
—

 
27,849

 
10.1
 %
Options
 
—

 
781

 
—

 
—

 
781

 
0.3
 %
Real Estate Investment Trusts
 
3,011

 
—

 
—

 
—

 
3,011

 
1.1
 %
Common Collective Trust - Global
 
—

 
20,910

 
—

 
—

 
20,910

 
7.6
 %
Common Collective Trust – International
 
—

 
1,025

 
—

 
—

 
1,025

 
0.4
 %
Subtotal – Equities
 
63,502

 
22,716

 
—

 
—

 
86,218

 
31.4
 %
 
 
 
 
 
 
 
 
 
 
 
 
 
Fixed Income:
 
 
 
 
 
 
 
 
 
 
 
 
Common Collective Trust – Debt
 
—

 
1,675

 
—

 
—

 
1,675

 
0.6
 %
United States Government and Agency Securities
 
—

 
24,947

 
—

 
—

 
24,947

 
9.0
 %
Corporate Debt
 
—

 
99,792

 
—

 
—

 
99,792

 
36.2
 %
Foreign Debt
 
—

 
22,220

 
—

 
—

 
22,220

 
8.1
 %
State and Local Government
 
—

 
827

 
—

 
—

 
827

 
0.3
 %
Other – Asset Backed
 
—

 
1,615

 
—

 
—

 
1,615

 
0.6
 %
Subtotal – Fixed Income
 
—

 
151,076

 
—

 
—

 
151,076

 
54.8
 %
 
 
 
 
 
 
 
 
 
 
 
 
 
Infrastructure
 
—

 
—

 
693

 
—

 
693

 
0.3
 %
Real Estate
 
—

 
—

 
13,076

 
—

 
13,076

 
4.7
 %
Alternative Investments
 
—

 
—

 
21,010

 
—

 
21,010

 
7.6
 %
Securities Lending
 
—

 
12,187

 
—

 
—

 
12,187

 
4.4
 %
Securities Lending Collateral (a)
 
—

 
—

 
—

 
(12,284
)
 
(12,284
)
 
(4.5
)%
Cash and Cash Equivalents
 
—

 
2,954

 
—

 
—

 
2,954

 
1.1
 %
Other – Pending Transactions and Accrued Income (b)
 
—

 
—

 
—

 
552

 
552

 
0.2
 %
 
 
 
 
 
 
 
 
 
 
 
 
 
Total
 
$
63,502

 
$
188,933

 
$
34,779

 
$
(11,732
)
 
$
275,482

 
100.0
 %
 

(a)
Amounts in "Other" column primarily represent an obligation to repay collateral received as part of the Securities Lending Program.
(b)
Amounts in "Other" column primarily represent accrued interest, dividend receivables and transactions pending settlement.
Pension Plan Assets Level 3 Reconciliation
PSO
 
Infrastructure
 
Real
Estate
 
Alternative
Investments
 
Total
Level 3
 
 
(in thousands)
Balance as of January 1, 2014
 
$
—

 
$
13,380

 
$
18,513

 
$
31,893

Actual Return on Plan Assets
 
 
 
 
 
 
 
 
Relating to Assets Still Held as of the Reporting Date
 
—

 
683

 
1,622

 
2,305

Relating to Assets Sold During the Period
 
—

 
2,371

 
799

 
3,170

Purchases and Sales
 
693

 
(3,358
)
 
76

 
(2,589
)
Transfers into Level 3
 
—

 
—

 
—

 
—

Transfers out of Level 3
 
—

 
—

 
—

 
—

Balance as of December 31, 2014
 
$
693

 
$
13,076

 
$
21,010

 
$
34,779

PSO
 
Real
Estate
 
Alternative
Investments
 
Total
Level 3
 
 
(in thousands)
Balance as of January 1, 2013
 
$
12,382

 
$
11,030

 
$
23,412

Actual Return on Plan Assets
 
 
 
 
 
 
Relating to Assets Still Held as of the Reporting Date
 
1,430

 
801

 
2,231

Relating to Assets Sold During the Period
 
—

 
808

 
808

Purchases and Sales
 
(432
)
 
5,874

 
5,442

Transfers into Level 3
 
—

 
—

 
—

Transfers out of Level 3
 
—

 
—

 
—

Balance as of December 31, 2013
 
$
13,380

 
$
18,513

 
$
31,893
Pension Plans [Member] | Southwestern Electric Power Co [Member]  
Assets within Fair Value Hierarchy
SWEPCo
 
 
 
 
 
 
 
 
 
 
 
 
Asset Class
 
Level 1
 
Level 2
 
Level 3
 
Other
 
Total
 
Year End
Allocation
 
 
(in thousands)
 
 
Equities:
 
 
 
 
 
 
 
 
 
 
 
 
Domestic
 
$
34,382

 
$
—

 
$
—

 
$
—

 
$
34,382

 
11.9
 %
International
 
29,332

 
—

 
—

 
—

 
29,332

 
10.1
 %
Options
 
—

 
823

 
—

 
—

 
823

 
0.3
 %
Real Estate Investment Trusts
 
3,171

 
—

 
—

 
—

 
3,171

 
1.1
 %
Common Collective Trust – Global
 
—

 
22,023

 
—

 
—

 
22,023

 
7.6
 %
Common Collective Trust – International
 
—

 
1,079

 
—

 
—

 
1,079

 
0.4
 %
Subtotal – Equities
 
66,885

 
23,925

 
—

 
—

 
90,810

 
31.4
 %
 
 
 
 
 
 
 
 
 
 
 
 
 
Fixed Income:
 
 
 
 
 
 
 
 
 
 
 
 
Common Collective Trust – Debt
 
—

 
1,764

 
—

 
—

 
1,764

 
0.6
 %
United States Government and Agency Securities
 
—

 
26,275

 
—

 
—

 
26,275

 
9.0
 %
Corporate Debt
 
—

 
105,107

 
—

 
—

 
105,107

 
36.2
 %
Foreign Debt
 
—

 
23,403

 
—

 
—

 
23,403

 
8.1
 %
State and Local Government
 
—

 
871

 
—

 
—

 
871

 
0.3
 %
Other – Asset Backed
 
—

 
1,701

 
—

 
—

 
1,701

 
0.6
 %
Subtotal – Fixed Income
 
—

 
159,121

 
—

 
—

 
159,121

 
54.8
 %
 
 
 
 
 
 
 
 
 
 
 
 
 
Infrastructure
 
—

 
—

 
730

 
—

 
730

 
0.3
 %
Real Estate
 
—

 
—

 
13,772

 
—

 
13,772

 
4.7
 %
Alternative Investments
 
—

 
—

 
22,129

 
—

 
22,129

 
7.6
 %
Securities Lending
 
—

 
12,836

 
—

 
—

 
12,836

 
4.4
 %
Securities Lending Collateral (a)
 
—

 
—

 
—

 
(12,938
)
 
(12,938
)
 
(4.5
)%
Cash and Cash Equivalents
 
—

 
3,111

 
—

 
—

 
3,111

 
1.1
 %
Other – Pending Transactions and Accrued Income (b)
 
—

 
—

 
—

 
581

 
581

 
0.2
 %
 
 
 
 
 
 
 
 
 
 
 
 
 
Total
 
$
66,885

 
$
198,993

 
$
36,631

 
$
(12,357
)
 
$
290,152

 
100.0
 %


(a)
Amounts in "Other" column primarily represent an obligation to repay collateral received as part of the Securities Lending Program.
(b)
Amounts in "Other" column primarily represent accrued interest, dividend receivables and transactions pending settlement.
SWEPCo
 
 
 
 
 
 
 
 
 
 
 
 
Asset Class
 
Level 1
 
Level 2
 
Level 3
 
Other
 
Total
 
Year End
Allocation
 
 
(in thousands)
 
 
Equities:
 
 
 
 
 
 
 
 
 
 
 
 
Domestic
 
$
64,634

 
$
—

 
$
—

 
$
—

 
$
64,634

 
23.2
 %
International
 
30,467

 
—

 
—

 
—

 
30,467

 
10.9
 %
Real Estate Investment Trusts
 
3,428

 
—

 
—

 
—

 
3,428

 
1.2
 %
Common Collective Trust – International
 
—

 
578

 
—

 
—

 
578

 
0.2
 %
Subtotal – Equities
 
98,529

 
578

 
—

 
—

 
99,107

 
35.5
 %
 
 
 
 
 
 
 
 
 
 
 
 
 
Fixed Income:
 
 
 
 
 
 
 
 
 
 
 
 
Common Collective Trust – Debt
 
—

 
1,535

 
—

 
—

 
1,535

 
0.5
 %
United States Government and Agency Securities
 
—

 
22,901

 
—

 
—

 
22,901

 
8.2
 %
Corporate Debt
 
—

 
94,736

 
—

 
—

 
94,736

 
34.0
 %
Foreign Debt
 
—

 
20,352

 
—

 
—

 
20,352

 
7.3
 %
State and Local Government
 
—

 
1,657

 
—

 
—

 
1,657

 
0.6
 %
Other – Asset Backed
 
—

 
1,971

 
—

 
—

 
1,971

 
0.7
 %
Subtotal – Fixed Income
 
—

 
143,152

 
—

 
—

 
143,152

 
51.3
 %
 
 
 
 
 
 
 
 
 
 
 
 
 
Real Estate
 
—

 
—

 
14,106

 
—

 
14,106

 
5.0
 %
Alternative Investments
 
—

 
—

 
19,517

 
—

 
19,517

 
7.0
 %
Securities Lending
 
—

 
2,083

 
—

 
—

 
2,083

 
0.8
 %
Securities Lending Collateral (a)
 
—

 
—

 
—

 
(2,676
)
 
(2,676
)
 
(0.9
)%
Cash and Cash Equivalents
 
—

 
2,877

 
—

 
—

 
2,877

 
1.0
 %
Other – Pending Transactions and Accrued Income (b)
 
—

 
—

 
—

 
780

 
780

 
0.3
 %
 
 
 
 
 
 
 
 
 
 
 
 
 
Total
 
$
98,529

 
$
148,690

 
$
33,623

 
$
(1,896
)
 
$
278,946

 
100.0
 %


(a)
Amounts in "Other" column primarily represent an obligation to repay collateral received as part of the Securities Lending Program.
(b)
Amounts in "Other" column primarily represent accrued interest, dividend receivables and transactions pending settlement.
Pension Plan Assets Level 3 Reconciliation
SWEPCo
 
Real
Estate
 
Alternative
Investments
 
Total
Level 3
 
 
(in thousands)
Balance as of January 1, 2013
 
$
13,078

 
$
11,649

 
$
24,727

Actual Return on Plan Assets
 
 
 
 
 
 
Relating to Assets Still Held as of the Reporting Date
 
1,474

 
841

 
2,315

Relating to Assets Sold During the Period
 
—

 
850

 
850

Purchases and Sales
 
(446
)
 
6,177

 
5,731

Transfers into Level 3
 
—

 
—

 
—

Transfers out of Level 3
 
—

 
—

 
—

Balance as of December 31, 2013
 
$
14,106

 
$
19,517

 
$
33,623

 
SWEPCo
 
Infrastructure
 
Real
Estate
 
Alternative
Investments
 
Total
Level 3
 
 
(in thousands)
Balance as of January 1, 2014
 
$
—

 
$
14,106

 
$
19,517

 
$
33,623

Actual Return on Plan Assets
 
 
 
 
 
 
 
 
Relating to Assets Still Held as of the Reporting Date
 
—

 
745

 
1,696

 
2,441

Relating to Assets Sold During the Period
 
—

 
2,590

 
836

 
3,426

Purchases and Sales
 
730

 
(3,669
)
 
80

 
(2,859
)
Transfers into Level 3
 
—

 
—

 
—

 
—

Transfers out of Level 3
 
—

 
—

 
—

 
—

Balance as of December 31, 2014
 
$
730

 
$
13,772

 
$
22,129

 
$
36,631
Other Postretirement Benefit Plans [Member]  
Assets within Fair Value Hierarchy
Asset Class
 
Level 1
 
Level 2
 
Level 3
 
Other
 
Total
 
Year End
Allocation
 
 
(in millions)
 
 
Equities:
 
 
 
 
 
 
 
 
 
 
 
 
Domestic
 
$
473

 
$
—

 
$
—

 
$
—

 
$
473

 
27.9
%
International
 
616

 
—

 
—

 
—

 
616

 
36.2
%
Common Collective Trust – Global
 
—

 
15

 
—

 
—

 
15

 
0.9
%
Subtotal – Equities
 
1,089

 
15

 
—

 
—

 
1,104

 
65.0
%
 
 
 
 
 
 
 
 
 
 
 
 
 
Fixed Income:
 
 
 
 
 
 
 
 
 
 
 
 
Common Collective Trust – Debt
 
—

 
88

 
—

 
—

 
88

 
5.2
%
United States Government and Agency Securities
 
—

 
56

 
—

 
—

 
56

 
3.3
%
Corporate Debt
 
—

 
110

 
—

 
—

 
110

 
6.5
%
Foreign Debt
 
—

 
22

 
—

 
—

 
22

 
1.2
%
State and Local Government
 
—

 
5

 
—

 
—

 
5

 
0.3
%
Other – Asset Backed
 
—

 
8

 
—

 
—

 
8

 
0.5
%
Subtotal – Fixed Income
 
—

 
289

 
—

 
—

 
289

 
17.0
%
 
 
 
 
 
 
 
 
 
 
 
 
 
Trust Owned Life Insurance:
 
 
 
 
 
 
 
 
 
 
 
 
International Equities
 
—

 
13

 
—

 
—

 
13

 
0.8
%
United States Bonds
 
—

 
211

 
—

 
—

 
211

 
12.4
%
Subtotal – Trust Owned Life Insurance
 
—

 
224

 
—

 
—

 
224

 
13.2
%
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and Cash Equivalents
 
68

 
9

 
—

 
—

 
77

 
4.5
%
Other – Pending Transactions and Accrued Income (a)
 
—

 
—

 
—

 
5

 
5

 
0.3
%
 
 
 
 
 
 
 
 
 
 
 
 
 
Total
 
$
1,157

 
$
537

 
$
—

 
$
5

 
$
1,699

 
100.0
%

(a)
Amounts in "Other" column primarily represent accrued interest, dividend receivables and transactions pending settlement.

Asset Class
 
Level 1
 
Level 2
 
Level 3
 
Other
 
Total
 
Year End
Allocation
 
 
(in millions)
 
 
Equities:
 
 
 
 
 
 
 
 
 
 
 
 
Domestic
 
$
466

 
$
—

 
$
—

 
$
—

 
$
466

 
27.5
%
International
 
567

 
—

 
—

 
—

 
567

 
33.5
%
Options
 
—

 
16

 
—

 
—

 
16

 
1.0
%
Common Collective Trust – Global
 
—

 
30

 
—

 
—

 
30

 
1.8
%
Subtotal – Equities
 
1,033

 
46

 
—

 
—

 
1,079

 
63.8
%
 
 
 
 
 
 
 
 
 
 
 
 
 
Fixed Income:
 
 
 
 
 
 
 
 
 
 
 
 
Common Collective Trust – Debt
 
—

 
104

 
—

 
—

 
104

 
6.1
%
United States Government and Agency Securities
 
—

 
71

 
—

 
—

 
71

 
4.2
%
Corporate Debt
 
—

 
125

 
—

 
—

 
125

 
7.4
%
Foreign Debt
 
—

 
21

 
—

 
—

 
21

 
1.3
%
State and Local Government
 
—

 
6

 
—

 
—

 
6

 
0.3
%
Other – Asset Backed
 
—

 
5

 
—

 
—

 
5

 
0.3
%
Subtotal – Fixed Income
 
—

 
332

 
—

 
—

 
332

 
19.6
%
 
 
 
 
 
 
 
 
 
 
 
 
 
Trust Owned Life Insurance:
 
 
 
 
 
 
 
 
 
 
 
 
International Equities
 
—

 
10

 
—

 
—

 
10

 
0.6
%
United States Bonds
 
—

 
212

 
—

 
—

 
212

 
12.5
%
Subtotal – Trust Owned Life Insurance
 
—

 
222

 
—

 
—

 
222

 
13.1
%
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and Cash Equivalents
 
47

 
10

 
—

 
—

 
57

 
3.3
%
Other – Pending Transactions and Accrued Income (a)
 
—

 
—

 
—

 
4

 
4

 
0.2
%
 
 
 
 
 
 
 
 
 
 
 
 
 
Total
 
$
1,080

 
$
610

 
$
—

 
$
4

 
$
1,694

 
100.0
%

(a)
Amounts in "Other" column primarily represent accrued interest, dividend receivables and transactions pending settlement.
Other Postretirement Benefit Plans [Member] | Appalachian Power Co [Member]  
Assets within Fair Value Hierarchy
APCo
 
 
 
 
 
 
 
 
 
 
 
 
Asset Class
 
Level 1
 
Level 2
 
Level 3
 
Other
 
Total
 
Year End
Allocation
 
 
(in thousands)
 
 
Equities:
 
 
 
 
 
 
 
 
 
 
 
 
Domestic
 
$
77,221

 
$
—

 
$
—

 
$
—

 
$
77,221

 
27.5
%
International
 
93,871

 
—

 
—

 
—

 
93,871

 
33.5
%
Options
 
—

 
2,712

 
—

 
—

 
2,712

 
1.0
%
Common Collective Trust – Global
 
—

 
4,905

 
—

 
—

 
4,905

 
1.8
%
Subtotal – Equities
 
171,092

 
7,617

 
—

 
—

 
178,709

 
63.8
%
 
 
 
 
 
 
 
 
 
 
 
 
 
Fixed Income:
 
 
 
 
 
 
 
 
 
 
 
 
Common Collective Trust – Debt
 
—

 
17,188

 
—

 
—

 
17,188

 
6.1
%
United States Government and Agency Securities
 
—

 
11,775

 
—

 
—

 
11,775

 
4.2
%
Corporate Debt
 
—

 
20,787

 
—

 
—

 
20,787

 
7.4
%
Foreign Debt
 
—

 
3,532

 
—

 
—

 
3,532

 
1.3
%
State and Local Government
 
—

 
975

 
—

 
—

 
975

 
0.3
%
Other – Asset Backed
 
—

 
820

 
—

 
—

 
820

 
0.3
%
Subtotal – Fixed Income
 
—

 
55,077

 
—

 
—

 
55,077

 
19.6
%
 
 
 
 
 
 
 
 
 
 
 
 
 
Trust Owned Life Insurance:
 
 
 
 
 
 
 
 
 
 
 
 
International Equities
 
—

 
1,709

 
—

 
—

 
1,709

 
0.6
%
United States Bonds
 
—

 
35,131

 
—

 
—

 
35,131

 
12.5
%
Subtotal – Trust Owned Life Insurance
 
—

 
36,840

 
—

 
—

 
36,840

 
13.1
%
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and Cash Equivalents
 
7,751

 
1,586

 
—

 
—

 
9,337

 
3.3
%
Other – Pending Transactions and Accrued Income (a)
 
—

 
—

 
—

 
670

 
670

 
0.2
%
 
 
 
 
 
 
 
 
 
 
 
 
 
Total
 
$
178,843

 
$
101,120

 
$
—

 
$
670

 
$
280,633

 
100.0
%
 

(a)
Amounts in "Other" column primarily represent accrued interest, dividend receivables and transactions pending settlement.
APCo
 
 
 
 
 
 
 
 
 
 
 
 
Asset Class
 
Level 1
 
Level 2
 
Level 3
 
Other
 
Total
 
Year End
Allocation
 
 
(in thousands)
 
 
Equities:
 
 
 
 
 
 
 
 
 
 
 
 
Domestic
 
$
79,369

 
$
—

 
$
—

 
$
—

 
$
79,369

 
27.9
%
International
 
103,188

 
—

 
—

 
—

 
103,188

 
36.2
%
Common Collective Trust – Global
 
—

 
2,463

 
—

 
—

 
2,463

 
0.9
%
Subtotal – Equities
 
182,557

 
2,463

 
—

 
—

 
185,020

 
65.0
%
 
 
 
 
 
 
 
 
 
 
 
 
 
Fixed Income:
 
 
 
 
 
 
 
 
 
 
 
 
Common Collective Trust – Debt
 
—

 
14,737

 
—

 
—

 
14,737

 
5.2
%
United States Government and Agency Securities
 
—

 
9,476

 
—

 
—

 
9,476

 
3.3
%
Corporate Debt
 
—

 
18,458

 
—

 
—

 
18,458

 
6.5
%
Foreign Debt
 
—

 
3,605

 
—

 
—

 
3,605

 
1.2
%
State and Local Government
 
—

 
776

 
—

 
—

 
776

 
0.3
%
Other – Asset Backed
 
—

 
1,362

 
—

 
—

 
1,362

 
0.5
%
Subtotal – Fixed Income
 
—

 
48,414

 
—

 
—

 
48,414

 
17.0
%
 
 
 
 
 
 
 
 
 
 
 
 
 
Trust Owned Life Insurance:
 
 
 
 
 
 
 
 
 
 
 
 
International Equities
 
—

 
2,219

 
—

 
—

 
2,219

 
0.8
%
United States Bonds
 
—

 
35,470

 
—

 
—

 
35,470

 
12.4
%
Subtotal – Trust Owned Life Insurance
 
—

 
37,689

 
—

 
—

 
37,689

 
13.2
%
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and Cash Equivalents
 
11,441

 
1,470

 
—

 
—

 
12,911

 
4.5
%
Other – Pending Transactions and Accrued Income (a)
 
—

 
—

 
—

 
806

 
806

 
0.3
%
 
 
 
 
 
 
 
 
 
 
 
 
 
Total
 
$
193,998

 
$
90,036

 
$
—

 
$
806

 
$
284,840

 
100.0
%
 

(a)
Amounts in "Other" column primarily represent accrued interest, dividend receivables and transactions pending settlement.
Other Postretirement Benefit Plans [Member] | Indiana Michigan Power Co [Member]  
Assets within Fair Value Hierarchy
I&M
 
 
 
 
 
 
 
 
 
 
 
 
Asset Class
 
Level 1
 
Level 2
 
Level 3
 
Other
 
Total
 
Year End
Allocation
 
 
(in thousands)
 
 
Equities:
 
 
 
 
 
 
 
 
 
 
 
 
Domestic
 
$
55,695

 
$
—

 
$
—

 
$
—

 
$
55,695

 
27.5
%
International
 
67,705

 
—

 
—

 
—

 
67,705

 
33.5
%
Options
 
—

 
1,956

 
—

 
—

 
1,956

 
1.0
%
Common Collective Trust – Global
 
—

 
3,538

 
—

 
—

 
3,538

 
1.8
%
Subtotal – Equities
 
123,400

 
5,494

 
—

 
—

 
128,894

 
63.8
%
 
 
 
 
 
 
 
 
 
 
 
 
 
Fixed Income:
 
 
 
 
 
 
 
 
 
 
 
 
Common Collective Trust – Debt
 
—

 
12,397

 
—

 
—

 
12,397

 
6.1
%
United States Government and Agency Securities
 
—

 
8,493

 
—

 
—

 
8,493

 
4.2
%
Corporate Debt
 
—

 
14,993

 
—

 
—

 
14,993

 
7.4
%
Foreign Debt
 
—

 
2,547

 
—

 
—

 
2,547

 
1.3
%
State and Local Government
 
—

 
704

 
—

 
—

 
704

 
0.3
%
Other – Asset Backed
 
—

 
592

 
—

 
—

 
592

 
0.3
%
Subtotal – Fixed Income
 
—

 
39,726

 
—

 
—

 
39,726

 
19.6
%
 
 
 
 
 
 
 
 
 
 
 
 
 
Trust Owned Life Insurance:
 
 
 
 
 
 
 
 
 
 
 
 
International Equities
 
—

 
1,232

 
—

 
—

 
1,232

 
0.6
%
United States Bonds
 
—

 
25,339

 
—

 
—

 
25,339

 
12.5
%
Subtotal – Trust Owned Life Insurance
 
—

 
26,571

 
—

 
—

 
26,571

 
13.1
%
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and Cash Equivalents
 
5,590

 
1,144

 
—

 
—

 
6,734

 
3.3
%
Other – Pending Transactions and Accrued Income (a)
 
—

 
—

 
—

 
483

 
483

 
0.2
%
 
 
 
 
 
 
 
 
 
 
 
 
 
Total
 
$
128,990

 
$
72,935

 
$
—

 
$
483

 
$
202,408

 
100.0
%
 

(a)
Amounts in "Other" column primarily represent accrued interest, dividend receivables and transactions pending settlement.
I&M
 
 
 
 
 
 
 
 
 
 
 
 
Asset Class
 
Level 1
 
Level 2
 
Level 3
 
Other
 
Total
 
Year End
Allocation
 
 
(in thousands)
 
 
Equities:
 
 
 
 
 
 
 
 
 
 
 
 
Domestic
 
$
57,460

 
$
—

 
$
—

 
$
—

 
$
57,460

 
27.9
%
International
 
74,705

 
—

 
—

 
—

 
74,705

 
36.2
%
Common Collective Trust – Global
 
—

 
1,783

 
—

 
—

 
1,783

 
0.9
%
Subtotal – Equities
 
132,165

 
1,783

 
—

 
—

 
133,948

 
65.0
%
 
 
 
 
 
 
 
 
 
 
 
 
 
Fixed Income:
 
 
 
 
 
 
 
 
 
 
 
 
Common Collective Trust – Debt
 
—

 
10,669

 
—

 
—

 
10,669

 
5.2
%
United States Government and Agency Securities
 
—

 
6,860

 
—

 
—

 
6,860

 
3.3
%
Corporate Debt
 
—

 
13,363

 
—

 
—

 
13,363

 
6.5
%
Foreign Debt
 
—

 
2,610

 
—

 
—

 
2,610

 
1.2
%
State and Local Government
 
—

 
562

 
—

 
—

 
562

 
0.3
%
Other – Asset Backed
 
—

 
986

 
—

 
—

 
986

 
0.5
%
Subtotal – Fixed Income
 
—

 
35,050

 
—

 
—

 
35,050

 
17.0
%
 
 
 
 
 
 
 
 
 
 
 
 
 
Trust Owned Life Insurance:
 
 
 
 
 
 
 
 
 
 
 
 
International Equities
 
—

 
1,607

 
—

 
—

 
1,607

 
0.8
%
United States Bonds
 
—

 
25,679

 
—

 
—

 
25,679

 
12.4
%
Subtotal – Trust Owned Life Insurance
 
—

 
27,286

 
—

 
—

 
27,286

 
13.2
%
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and Cash Equivalents
 
8,283

 
1,064

 
—

 
—

 
9,347

 
4.5
%
Other – Pending Transactions and Accrued Income (a)
 
—

 
—

 
—

 
583

 
583

 
0.3
%
 
 
 
 
 
 
 
 
 
 
 
 
 
Total
 
$
140,448

 
$
65,183

 
$
—

 
$
583

 
$
206,214

 
100.0
%


(a)
Amounts in "Other" column primarily represent accrued interest, dividend receivables and transactions pending settlement.
Other Postretirement Benefit Plans [Member] | Ohio Power Co [Member]  
Assets within Fair Value Hierarchy
OPCo
 
 
 
 
 
 
 
 
 
 
 
 
Asset Class
 
Level 1
 
Level 2
 
Level 3
 
Other
 
Total
 
Year End
Allocation
 
 
(in thousands)
 
 
Equities:
 
 
 
 
 
 
 
 
 
 
 
 
Domestic
 
$
56,743

 
$
—

 
$
—

 
$
—

 
$
56,743

 
27.5
%
International
 
68,977

 
—

 
—

 
—

 
68,977

 
33.5
%
Options
 
—

 
1,993

 
—

 
—

 
1,993

 
1.0
%
Common Collective Trust – Global
 
—

 
3,604

 
—

 
—

 
3,604

 
1.8
%
Subtotal – Equities
 
125,720

 
5,597

 
—

 
—

 
131,317

 
63.8
%
 
 
 
 
 
 
 
 
 
 
 
 
 
Fixed Income:
 
 
 
 
 
 
 
 
 
 
 
 
Common Collective Trust – Debt
 
—

 
12,630

 
—

 
—

 
12,630

 
6.1
%
United States Government and Agency Securities
 
—

 
8,653

 
—

 
—

 
8,653

 
4.2
%
Corporate Debt
 
—

 
15,274

 
—

 
—

 
15,274

 
7.4
%
Foreign Debt
 
—

 
2,595

 
—

 
—

 
2,595

 
1.3
%
State and Local Government
 
—

 
717

 
—

 
—

 
717

 
0.3
%
Other – Asset Backed
 
—

 
603

 
—

 
—

 
603

 
0.3
%
Subtotal – Fixed Income
 
—

 
40,472

 
—

 
—

 
40,472

 
19.6
%
 
 
 
 
 
 
 
 
 
 
 
 
 
Trust Owned Life Insurance:
 
 
 
 
 
 
 
 
 
 
 
 
International Equities
 
—

 
1,256

 
—

 
—

 
1,256

 
0.6
%
United States Bonds
 
—

 
25,815

 
—

 
—

 
25,815

 
12.5
%
Subtotal – Trust Owned Life Insurance
 
—

 
27,071

 
—

 
—

 
27,071

 
13.1
%
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and Cash Equivalents
 
5,695

 
1,165

 
—

 
—

 
6,860

 
3.3
%
Other – Pending Transactions and Accrued Income (a)
 
—

 
—

 
—

 
492

 
492

 
0.2
%
 
 
 
 
 
 
 
 
 
 
 
 
 
Total
 
$
131,415

 
$
74,305

 
$
—

 
$
492

 
$
206,212

 
100.0
%


(a)
Amounts in "Other" column primarily represent accrued interest, dividend receivables and transactions pending settlement.
OPCo
 
 
 
 
 
 
 
 
 
 
 
 
Asset Class
 
Level 1
 
Level 2
 
Level 3
 
Other
 
Total
 
Year End
Allocation
 
 
(in thousands)
 
 
Equities:
 
 
 
 
 
 
 
 
 
 
 
 
Domestic
 
$
59,069

 
$
—

 
$
—

 
$
—

 
$
59,069

 
27.9
%
International
 
76,799

 
—

 
—

 
—

 
76,799

 
36.2
%
Common Collective Trust – Global
 
—

 
1,833

 
—

 
—

 
1,833

 
0.9
%
Subtotal – Equities
 
135,868

 
1,833

 
—

 
—

 
137,701

 
65.0
%
 
 
 
 
 
 
 
 
 
 
 
 
 
Fixed Income:
 
 
 
 
 
 
 
 
 
 
 
 
Common Collective Trust – Debt
 
—

 
10,968

 
—

 
—

 
10,968

 
5.2
%
United States Government and Agency Securities
 
—

 
7,053

 
—

 
—

 
7,053

 
3.3
%
Corporate Debt
 
—

 
13,738

 
—

 
—

 
13,738

 
6.5
%
Foreign Debt
 
—

 
2,683

 
—

 
—

 
2,683

 
1.2
%
State and Local Government
 
—

 
577

 
—

 
—

 
577

 
0.3
%
Other – Asset Backed
 
—

 
1,014

 
—

 
—

 
1,014

 
0.5
%
Subtotal – Fixed Income
 
—

 
36,033

 
—

 
—

 
36,033

 
17.0
%
 
 
 
 
 
 
 
 
 
 
 
 
 
Trust Owned Life Insurance:
 
 
 
 
 
 
 
 
 
 
 
 
International Equities
 
—

 
1,652

 
—

 
—

 
1,652

 
0.8
%
United States Bonds
 
—

 
26,399

 
—

 
—

 
26,399

 
12.4
%
Subtotal – Trust Owned Life Insurance
 
—

 
28,051

 
—

 
—

 
28,051

 
13.2
%
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and Cash Equivalents
 
8,515

 
1,094

 
—

 
—

 
9,609

 
4.5
%
Other – Pending Transactions and Accrued Income (a)
 
—

 
—

 
—

 
600

 
600

 
0.3
%
 
 
 
 
 
 
 
 
 
 
 
 
 
Total
 
$
144,383

 
$
67,011

 
$
—

 
$
600

 
$
211,994

 
100.0
%


(a)
Amounts in "Other" column primarily represent accrued interest, dividend receivables and transactions pending settlement.
Other Postretirement Benefit Plans [Member] | Public Service Co Of Oklahoma [Member]  
Assets within Fair Value Hierarchy
PSO
 
 
 
 
 
 
 
 
 
 
 
 
Asset Class
 
Level 1
 
Level 2
 
Level 3
 
Other
 
Total
 
Year End
Allocation
 
 
(in thousands)
 
 
Equities:
 
 
 
 
 
 
 
 
 
 
 
 
Domestic
 
$
26,842

 
$
—

 
$
—

 
$
—

 
$
26,842

 
27.9
%
International
 
34,898

 
—

 
—

 
—

 
34,898

 
36.2
%
Common Collective Trust – Global
 
—

 
833

 
—

 
—

 
833

 
0.9
%
Subtotal – Equities
 
61,740

 
833

 
—

 
—

 
62,573

 
65.0
%
 
 
 
 
 
 
 
 
 
 
 
 
 
Fixed Income:
 
 
 
 
 
 
 
 
 
 
 
 
Common Collective Trust – Debt
 
—

 
4,984

 
—

 
—

 
4,984

 
5.2
%
United States Government and Agency Securities
 
—

 
3,205

 
—

 
—

 
3,205

 
3.3
%
Corporate Debt
 
—

 
6,243

 
—

 
—

 
6,243

 
6.5
%
Foreign Debt
 
—

 
1,219

 
—

 
—

 
1,219

 
1.2
%
State and Local Government
 
—

 
262

 
—

 
—

 
262

 
0.3
%
Other – Asset Backed
 
—

 
461

 
—

 
—

 
461

 
0.5
%
Subtotal – Fixed Income
 
—

 
16,374

 
—

 
—

 
16,374

 
17.0
%
 
 
 
 
 
 
 
 
 
 
 
 
 
Trust Owned Life Insurance:
 
 
 
 
 
 
 
 
 
 
 
 
International Equities
 
—

 
751

 
—

 
—

 
751

 
0.8
%
United States Bonds
 
—

 
11,996

 
—

 
—

 
11,996

 
12.4
%
Subtotal – Trust Owned Life Insurance
 
—

 
12,747

 
—

 
—

 
12,747

 
13.2
%
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and Cash Equivalents
 
3,869

 
497

 
—

 
—

 
4,366

 
4.5
%
Other – Pending Transactions and Accrued Income (a)
 
—

 
—

 
—

 
273

 
273

 
0.3
%
 
 
 
 
 
 
 
 
 
 
 
 
 
Total
 
$
65,609

 
$
30,451

 
$
—

 
$
273

 
$
96,333

 
100.0
%
 

(a)
Amounts in "Other" column primarily represent accrued interest, dividend receivables and transactions pending settlement.
PSO
 
 
 
 
 
 
 
 
 
 
 
 
Asset Class
 
Level 1
 
Level 2
 
Level 3
 
Other
 
Total
 
Year End
Allocation
 
 
(in thousands)
 
 
Equities:
 
 
 
 
 
 
 
 
 
 
 
 
Domestic
 
$
26,425

 
$
—

 
$
—

 
$
—

 
$
26,425

 
27.5
%
International
 
32,126

 
—

 
—

 
—

 
32,126

 
33.5
%
Options
 
—

 
928

 
—

 
—

 
928

 
1.0
%
Common Collective Trust – Global
 
—

 
1,679

 
—

 
—

 
1,679

 
1.8
%
Subtotal – Equities
 
58,551

 
2,607

 
—

 
—

 
61,158

 
63.8
%
 
 
 
 
 
 
 
 
 
 
 
 
 
Fixed Income:
 
 
 
 
 
 
 
 
 
 
 
 
Common Collective Trust – Debt
 
—

 
5,882

 
—

 
—

 
5,882

 
6.1
%
United States Government and Agency Securities
 
—

 
4,030

 
—

 
—

 
4,030

 
4.2
%
Corporate Debt
 
—

 
7,114

 
—

 
—

 
7,114

 
7.4
%
Foreign Debt
 
—

 
1,209

 
—

 
—

 
1,209

 
1.3
%
State and Local Government
 
—

 
334

 
—

 
—

 
334

 
0.3
%
Other – Asset Backed
 
—

 
281

 
—

 
—

 
281

 
0.3
%
Subtotal – Fixed Income
 
—

 
18,850

 
—

 
—

 
18,850

 
19.6
%
 
 
 
 
 
 
 
 
 
 
 
 
 
Trust Owned Life Insurance:
 
 
 
 
 
 
 
 
 
 
 
 
International Equities
 
—

 
585

 
—

 
—

 
585

 
0.6
%
United States Bonds
 
—

 
12,023

 
—

 
—

 
12,023

 
12.5
%
Subtotal – Trust Owned Life Insurance
 
—

 
12,608

 
—

 
—

 
12,608

 
13.1
%
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and Cash Equivalents
 
2,653

 
543

 
—

 
—

 
3,196

 
3.3
%
Other – Pending Transactions and Accrued Income (a)
 
—

 
—

 
—

 
229

 
229

 
0.2
%
 
 
 
 
 
 
 
 
 
 
 
 
 
Total
 
$
61,204

 
$
34,608

 
$
—

 
$
229

 
$
96,041

 
100.0
%


(a)
Amounts in "Other" column primarily represent accrued interest, dividend receivables and transactions pending settlement.
Other Postretirement Benefit Plans [Member] | Southwestern Electric Power Co [Member]  
Assets within Fair Value Hierarchy
SWEPCo
 
 
 
 
 
 
 
 
 
 
 
 
Asset Class
 
Level 1
 
Level 2
 
Level 3
 
Other
 
Total
 
Year End
Allocation
 
 
(in thousands)
 
 
Equities:
 
 
 
 
 
 
 
 
 
 
 
 
Domestic
 
$
30,022

 
$
—

 
$
—

 
$
—

 
$
30,022

 
27.9
%
International
 
39,034

 
—

 
—

 
—

 
39,034

 
36.2
%
Common Collective Trust – Global
 
—

 
932

 
—

 
—

 
932

 
0.9
%
Subtotal – Equities
 
69,056

 
932

 
—

 
—

 
69,988

 
65.0
%
 
 
 
 
 
 
 
 
 
 
 
 
 
Fixed Income:
 
 
 
 
 
 
 
 
 
 
 
 
Common Collective Trust – Debt
 
—

 
5,575

 
—

 
—

 
5,575

 
5.2
%
United States Government and Agency Securities
 
—

 
3,585

 
—

 
—

 
3,585

 
3.3
%
Corporate Debt
 
—

 
6,982

 
—

 
—

 
6,982

 
6.5
%
Foreign Debt
 
—

 
1,364

 
—

 
—

 
1,364

 
1.2
%
State and Local Government
 
—

 
294

 
—

 
—

 
294

 
0.3
%
Other – Asset Backed
 
—

 
515

 
—

 
—

 
515

 
0.5
%
Subtotal – Fixed Income
 
—

 
18,315

 
—

 
—

 
18,315

 
17.0
%
 
 
 
 
 
 
 
 
 
 
 
 
 
Trust Owned Life Insurance:
 
 
 
 
 
 
 
 
 
 
 
 
International Equities
 
—

 
840

 
—

 
—

 
840

 
0.8
%
United States Bonds
 
—

 
13,418

 
—

 
—

 
13,418

 
12.4
%
Subtotal – Trust Owned Life Insurance
 
—

 
14,258

 
—

 
—

 
14,258

 
13.2
%
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and Cash Equivalents
 
4,328

 
556

 
—

 
—

 
4,884

 
4.5
%
Other – Pending Transactions and Accrued Income (a)
 
—

 
—

 
—

 
305

 
305

 
0.3
%
 
 
 
 
 
 
 
 
 
 
 
 
 
Total
 
$
73,384

 
$
34,061

 
$
—

 
$
305

 
$
107,750

 
100.0
%


(a)
Amounts in "Other" column primarily represent accrued interest, dividend receivables and transactions pending settlement.
SWEPCo
 
 
 
 
 
 
 
 
 
 
 
 
Asset Class
 
Level 1
 
Level 2
 
Level 3
 
Other
 
Total
 
Year End
Allocation
 
 
(in thousands)
 
 
Equities:
 
 
 
 
 
 
 
 
 
 
 
 
Domestic
 
$
29,286

 
$
—

 
$
—

 
$
—

 
$
29,286

 
27.5
%
International
 
35,601

 
—

 
—

 
—

 
35,601

 
33.5
%
Options
 
—

 
1,029

 
—

 
—

 
1,029

 
1.0
%
Common Collective Trust – Global
 
—

 
1,860

 
—

 
—

 
1,860

 
1.8
%
Subtotal – Equities
 
64,887

 
2,889

 
—

 
—

 
67,776

 
63.8
%
 
 
 
 
 
 
 
 
 
 
 
 
 
Fixed Income:
 
 
 
 
 
 
 
 
 
 
 
 
Common Collective Trust – Debt
 
—

 
6,519

 
—

 
—

 
6,519

 
6.1
%
United States Government and Agency Securities
 
—

 
4,466

 
—

 
—

 
4,466

 
4.2
%
Corporate Debt
 
—

 
7,884

 
—

 
—

 
7,884

 
7.4
%
Foreign Debt
 
—

 
1,339

 
—

 
—

 
1,339

 
1.3
%
State and Local Government
 
—

 
370

 
—

 
—

 
370

 
0.3
%
Other – Asset Backed
 
—

 
311

 
—

 
—

 
311

 
0.3
%
Subtotal – Fixed Income
 
—

 
20,889

 
—

 
—

 
20,889

 
19.6
%
 
 
 
 
 
 
 
 
 
 
 
 
 
Trust Owned Life Insurance:
 
 
 
 
 
 
 
 
 
 
 
 
International Equities
 
—

 
648

 
—

 
—

 
648

 
0.6
%
United States Bonds
 
—

 
13,324

 
—

 
—

 
13,324

 
12.5
%
Subtotal – Trust Owned Life Insurance
 
—

 
13,972

 
—

 
—

 
13,972

 
13.1
%
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and Cash Equivalents
 
2,940

 
601

 
—

 
—

 
3,541

 
3.3
%
Other – Pending Transactions and Accrued Income (a)
 
—

 
—

 
—

 
254

 
254

 
0.2
%
 
 
 
 
 
 
 
 
 
 
 
 
 
Total
 
$
67,827

 
$
38,351

 
$
—

 
$
254

 
$
106,432

 
100.0
%


(a)
Amounts in "Other" column primarily represent accrued interest, dividend receivables and transactions pending settlement.
Benefit Obligations [Member]  
Actuarial Assumptions
 
 
Pension Plans
 
 
Other Postretirement
Benefit Plans
Assumptions
 
2014
 
2013
 
 
2014
 
2013
Discount Rate
 
4.00
%
 
4.70
%
 
 
4.00
%
 
4.70
%
Rate of Compensation Increase
 
4.80
%
(a)
4.85
%
(a)
 
NA

 
NA


(a)
Rates are for base pay only.  In addition, an amount is added to reflect target incentive compensation for exempt employees and overtime and incentive pay for nonexempt employees.
NA
Not applicable
Benefit Obligations [Member] | Appalachian Power Co [Member]  
Actuarial Assumptions
 
 
Pension Plans
 
Other Postretirement
Benefit Plans
Increase in Benefit Obligation
 
(in thousands)
APCo
 
$
17,946

 
$
2,271

I&M
 
15,117

 
1,644

OPCo
 
14,525

 
310

PSO
 
6,811

 
555

SWEPCo
 
6,445

 
775

 
 
Pension Plans
 
Other Postretirement
Benefit Plans
Assumption
 
2014
 
2013
 
2014
 
2013
Discount Rate
 
4.00
%
 
4.70
%
 
4.00
%
 
4.70
%
 
 
Pension Plans
Assumption – Rate of Compensation Increase (a)
 
2014
 
2013
APCo
 
4.45
%
 
4.60
%
I&M
 
4.80
%
 
4.90
%
OPCo
 
4.80
%
 
5.00
%
PSO
 
4.80
%
 
4.90
%
SWEPCo
 
4.80
%
 
4.85
%

(a)
Rates are for base pay only.  In addition, an amount is added to reflect target incentive compensation for exempt employees and overtime and incentive pay for nonexempt employees.
Benefit Obligations [Member] | Indiana Michigan Power Co [Member]  
Actuarial Assumptions
 
 
Pension Plans
 
Other Postretirement
Benefit Plans
Assumption
 
2014
 
2013
 
2014
 
2013
Discount Rate
 
4.00
%
 
4.70
%
 
4.00
%
 
4.70
%
 
 
Pension Plans
Assumption – Rate of Compensation Increase (a)
 
2014
 
2013
APCo
 
4.45
%
 
4.60
%
I&M
 
4.80
%
 
4.90
%
OPCo
 
4.80
%
 
5.00
%
PSO
 
4.80
%
 
4.90
%
SWEPCo
 
4.80
%
 
4.85
%

(a)
Rates are for base pay only.  In addition, an amount is added to reflect target incentive compensation for exempt employees and overtime and incentive pay for nonexempt employees.
 
 
Pension Plans
 
Other Postretirement
Benefit Plans
Increase in Benefit Obligation
 
(in thousands)
APCo
 
$
17,946

 
$
2,271

I&M
 
15,117

 
1,644

OPCo
 
14,525

 
310

PSO
 
6,811

 
555

SWEPCo
 
6,445

 
775
Benefit Obligations [Member] | Ohio Power Co [Member]  
Actuarial Assumptions
 
 
Pension Plans
 
Other Postretirement
Benefit Plans
Assumption
 
2014
 
2013
 
2014
 
2013
Discount Rate
 
4.00
%
 
4.70
%
 
4.00
%
 
4.70
%
 
 
Pension Plans
Assumption – Rate of Compensation Increase (a)
 
2014
 
2013
APCo
 
4.45
%
 
4.60
%
I&M
 
4.80
%
 
4.90
%
OPCo
 
4.80
%
 
5.00
%
PSO
 
4.80
%
 
4.90
%
SWEPCo
 
4.80
%
 
4.85
%

(a)
Rates are for base pay only.  In addition, an amount is added to reflect target incentive compensation for exempt employees and overtime and incentive pay for nonexempt employees.
 
 
Pension Plans
 
Other Postretirement
Benefit Plans
Increase in Benefit Obligation
 
(in thousands)
APCo
 
$
17,946

 
$
2,271

I&M
 
15,117

 
1,644

OPCo
 
14,525

 
310

PSO
 
6,811

 
555

SWEPCo
 
6,445

 
775
Benefit Obligations [Member] | Public Service Co Of Oklahoma [Member]  
Actuarial Assumptions
 
 
Pension Plans
 
Other Postretirement
Benefit Plans
Increase in Benefit Obligation
 
(in thousands)
APCo
 
$
17,946

 
$
2,271

I&M
 
15,117

 
1,644

OPCo
 
14,525

 
310

PSO
 
6,811

 
555

SWEPCo
 
6,445

 
775

 
 
Pension Plans
 
Other Postretirement
Benefit Plans
Assumption
 
2014
 
2013
 
2014
 
2013
Discount Rate
 
4.00
%
 
4.70
%
 
4.00
%
 
4.70
%
 
 
Pension Plans
Assumption – Rate of Compensation Increase (a)
 
2014
 
2013
APCo
 
4.45
%
 
4.60
%
I&M
 
4.80
%
 
4.90
%
OPCo
 
4.80
%
 
5.00
%
PSO
 
4.80
%
 
4.90
%
SWEPCo
 
4.80
%
 
4.85
%

(a)
Rates are for base pay only.  In addition, an amount is added to reflect target incentive compensation for exempt employees and overtime and incentive pay for nonexempt employees.
Benefit Obligations [Member] | Southwestern Electric Power Co [Member]  
Actuarial Assumptions
 
 
Pension Plans
 
Other Postretirement
Benefit Plans
Assumption
 
2014
 
2013
 
2014
 
2013
Discount Rate
 
4.00
%
 
4.70
%
 
4.00
%
 
4.70
%
 
 
Pension Plans
Assumption – Rate of Compensation Increase (a)
 
2014
 
2013
APCo
 
4.45
%
 
4.60
%
I&M
 
4.80
%
 
4.90
%
OPCo
 
4.80
%
 
5.00
%
PSO
 
4.80
%
 
4.90
%
SWEPCo
 
4.80
%
 
4.85
%

(a)
Rates are for base pay only.  In addition, an amount is added to reflect target incentive compensation for exempt employees and overtime and incentive pay for nonexempt employees.
 
 
Pension Plans
 
Other Postretirement
Benefit Plans
Increase in Benefit Obligation
 
(in thousands)
APCo
 
$
17,946

 
$
2,271

I&M
 
15,117

 
1,644

OPCo
 
14,525

 
310

PSO
 
6,811

 
555

SWEPCo
 
6,445

 
775
Benefit Costs [Member]  
Actuarial Assumptions
 
 
Pension Plans
 
Other Postretirement
Benefit Plans
 
 
2014
 
2013
 
2012
 
2014
 
2013
 
2012
Discount Rate
 
4.70
%
 
3.95
%
 
4.55
%
 
4.70
%
 
3.95
%
 
4.75
%
Expected Return on Plan Assets
 
6.00
%
 
6.50
%
 
7.25
%
 
6.75
%
 
7.00
%
 
7.25
%
Rate of Compensation Increase
 
4.85
%
 
4.95
%
 
4.85
%
 
NA

 
NA

 
NA


NA
Not applicable.
Benefit Costs [Member] | Appalachian Power Co [Member]  
Actuarial Assumptions
 
 
Pension Plans
 
Other Postretirement
Benefit Plans
Assumptions
 
2014
 
2013
 
2012
 
2014
 
2013
 
2012
Discount Rate
 
4.70
%
 
3.95
%
 
4.55
%
 
4.70
%
 
3.95
%
 
4.75
%
Expected Return on Plan Assets
 
6.00
%
 
6.50
%
 
7.25
%
 
6.75
%
 
7.00
%
 
7.25
%
 
 
Pension Plans
Assumption – Rate of Compensation Increase
 
2014
 
2013
 
2012
APCo
 
4.60
%
 
4.70
%
 
4.70
%
I&M
 
4.90
%
 
5.00
%
 
5.00
%
OPCo
 
5.00
%
 
5.00
%
 
5.00
%
PSO
 
4.90
%
 
4.90
%
 
4.90
%
SWEPCo
 
4.85
%
 
4.75
%
 
4.75
%
Benefit Costs [Member] | Indiana Michigan Power Co [Member]  
Actuarial Assumptions
 
 
Pension Plans
 
Other Postretirement
Benefit Plans
Assumptions
 
2014
 
2013
 
2012
 
2014
 
2013
 
2012
Discount Rate
 
4.70
%
 
3.95
%
 
4.55
%
 
4.70
%
 
3.95
%
 
4.75
%
Expected Return on Plan Assets
 
6.00
%
 
6.50
%
 
7.25
%
 
6.75
%
 
7.00
%
 
7.25
%
 
 
Pension Plans
Assumption – Rate of Compensation Increase
 
2014
 
2013
 
2012
APCo
 
4.60
%
 
4.70
%
 
4.70
%
I&M
 
4.90
%
 
5.00
%
 
5.00
%
OPCo
 
5.00
%
 
5.00
%
 
5.00
%
PSO
 
4.90
%
 
4.90
%
 
4.90
%
SWEPCo
 
4.85
%
 
4.75
%
 
4.75
%
Benefit Costs [Member] | Ohio Power Co [Member]  
Actuarial Assumptions
 
 
Pension Plans
 
Other Postretirement
Benefit Plans
Assumptions
 
2014
 
2013
 
2012
 
2014
 
2013
 
2012
Discount Rate
 
4.70
%
 
3.95
%
 
4.55
%
 
4.70
%
 
3.95
%
 
4.75
%
Expected Return on Plan Assets
 
6.00
%
 
6.50
%
 
7.25
%
 
6.75
%
 
7.00
%
 
7.25
%
 
 
Pension Plans
Assumption – Rate of Compensation Increase
 
2014
 
2013
 
2012
APCo
 
4.60
%
 
4.70
%
 
4.70
%
I&M
 
4.90
%
 
5.00
%
 
5.00
%
OPCo
 
5.00
%
 
5.00
%
 
5.00
%
PSO
 
4.90
%
 
4.90
%
 
4.90
%
SWEPCo
 
4.85
%
 
4.75
%
 
4.75
%
Benefit Costs [Member] | Public Service Co Of Oklahoma [Member]  
Actuarial Assumptions
 
 
Pension Plans
 
Other Postretirement
Benefit Plans
Assumptions
 
2014
 
2013
 
2012
 
2014
 
2013
 
2012
Discount Rate
 
4.70
%
 
3.95
%
 
4.55
%
 
4.70
%
 
3.95
%
 
4.75
%
Expected Return on Plan Assets
 
6.00
%
 
6.50
%
 
7.25
%
 
6.75
%
 
7.00
%
 
7.25
%
 
 
Pension Plans
Assumption – Rate of Compensation Increase
 
2014
 
2013
 
2012
APCo
 
4.60
%
 
4.70
%
 
4.70
%
I&M
 
4.90
%
 
5.00
%
 
5.00
%
OPCo
 
5.00
%
 
5.00
%
 
5.00
%
PSO
 
4.90
%
 
4.90
%
 
4.90
%
SWEPCo
 
4.85
%
 
4.75
%
 
4.75
%
Benefit Costs [Member] | Southwestern Electric Power Co [Member]  
Actuarial Assumptions
 
 
Pension Plans
 
Other Postretirement
Benefit Plans
Assumptions
 
2014
 
2013
 
2012
 
2014
 
2013
 
2012
Discount Rate
 
4.70
%
 
3.95
%
 
4.55
%
 
4.70
%
 
3.95
%
 
4.75
%
Expected Return on Plan Assets
 
6.00
%
 
6.50
%
 
7.25
%
 
6.75
%
 
7.00
%
 
7.25
%
 
 
Pension Plans
Assumption – Rate of Compensation Increase
 
2014
 
2013
 
2012
APCo
 
4.60
%
 
4.70
%
 
4.70
%
I&M
 
4.90
%
 
5.00
%
 
5.00
%
OPCo
 
5.00
%
 
5.00
%
 
5.00
%
PSO
 
4.90
%
 
4.90
%
 
4.90
%
SWEPCo
 
4.85
%
 
4.75
%
 
4.75
%