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Consolidated Statements of Income - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
Revenues        
Revenue from Contracts with Customers $ 4,333.1 $ 4,104.7 $ 12,394.6 $ 11,614.5
Sales to AEP Affiliates 0.0 0.0 0.0 0.0
TOTAL REVENUES 4,333.1 4,104.7 12,394.6 11,614.5
Expenses        
Other Operation 826.0 644.0 2,332.7 1,884.1
Maintenance 316.6 269.0 911.0 862.6
Gain on Sale of Merchant Generation Assets 0.0 0.0 0.0 (226.4)
Depreciation and Amortization 602.6 518.5 1,695.5 1,485.9
Taxes Other Than Income Taxes 294.2 272.6 863.0 792.0
TOTAL EXPENSES 3,664.5 3,129.6 10,263.0 8,820.4
OPERATING INCOME (LOSS) 668.6 975.1 2,131.6 2,794.1
Other Income (Expense):        
Interest and Investment Income 5.4 2.4 11.3 12.7
Carrying Costs Income 0.9 2.6 7.2 14.2
Allowance for Equity Funds Used During Construction 30.9 20.0 92.4 62.2
Non-Service Cost Components of Net Periodic Benefit Cost 31.9 11.4 95.3 34.2
Gain (Loss) on Disposition of Stock in Subsidiary or Equity Method Investee 0.0 12.4 0.0 12.4
Interest Expense (256.8) (223.3) (733.1) (668.0)
INCOME BEFORE INCOME TAX EXPENSE AND EQUITY EARNINGS 480.9 800.6 1,604.7 2,261.8
Income Tax Expense (Credit) (80.7) 264.0 93.5 797.8
Equity Earnings (Loss) of Unconsolidated Subsidiaries 18.1 20.1 55.3 63.1
Net Income (Loss) 579.7 556.7 1,566.5 1,527.1
Net Income Attributable to Noncontrolling Interests 2.1 12.0 6.1 15.2
Earnings Attributable to Common Shareholders $ 577.6 $ 544.7 $ 1,560.4 $ 1,511.9
Earnings Per Share        
Weighted Average Number of Basic AEP Common Shares Outstanding 492,984,741 491,840,722 492,649,456 491,781,643
Basic Earnings Per Share Attributable to AEP Common Shareholders from Continuing Operations $ 1.17 $ 1.11 $ 3.17 $ 3.07
Total Basic Earnings Per Share Attributable to AEP Common Shareholders $ 1.17 $ 1.11 $ 3.17 $ 3.07
Weighted Average Number of Diluted AEP Common Shares Outstanding 493,940,543 492,986,307 493,526,937 492,428,586
Diluted Earnings Per Share Attributable to AEP Common Shareholders from Continuing Operations $ 1.17 $ 1.10 $ 3.16 $ 3.07
Total Diluted Earnings Per Share Attributable to AEP Common Shareholders 1.17 1.10 3.16 3.07
Common Stock, Dividends Per Share, Declared $ 0.62 $ 0.59 $ 1.86 $ 1.77
Vertically Integrated Utilities [Member]        
Revenues        
Revenue from Contracts with Customers $ 2,610.2 $ 2,453.8 $ 7,332.4 $ 6,819.3
Transmission and Distribution Utilities [Member]        
Revenues        
Revenue from Contracts with Customers 1,180.9 1,149.7 3,450.0 3,242.7
Generation and Marketing [Member]        
Revenues        
Revenue from Contracts with Customers 486.5 441.5 1,399.3 1,386.8
Other Revenues [Member]        
Revenues        
Revenue from Contracts with Customers 55.5 59.7 212.9 165.7
TOTAL REVENUES 58.6 [1]   78.5 [2]  
Fuel and Other Consumables Used for Electric Generation [Member]        
Revenues        
Revenue from Contracts with Customers 240.8 [3]   944.7 [4]  
Expenses        
Cost of Goods and Services Sold 840.4 707.4 1,909.1 1,865.3
Purchased Electricity for Resale [Member]        
Expenses        
Cost of Goods and Services Sold 784.7 718.1 2,551.7 2,156.9
AEP Texas Inc. [Member]        
Revenues        
Revenue from Contracts with Customers 407.3      
Sales to AEP Affiliates 27.5 18.9 63.3 50.8
TOTAL REVENUES 433.4 431.2 1,193.3 1,164.3
Expenses        
Other Operation 133.4 117.5 368.4 332.8
Maintenance 23.2 19.3 67.8 58.1
Depreciation and Amortization 133.3 124.0 364.9 343.0
Taxes Other Than Income Taxes 36.3 33.3 102.3 93.3
TOTAL EXPENSES 339.4 302.4 931.3 844.4
OPERATING INCOME (LOSS) 94.0 128.8 262.0 319.9
Other Income (Expense):        
Interest Income 0.5 0.5 0.0 1.6
Allowance for Equity Funds Used During Construction 5.8 0.0 15.2 2.2
Non-Service Cost Components of Net Periodic Benefit Cost 3.1 0.9 9.2 2.7
Interest Expense (37.3) (35.3) (108.9) (105.6)
INCOME BEFORE INCOME TAX EXPENSE AND EQUITY EARNINGS 66.1 94.9 177.5 220.8
Income Tax Expense (Credit) 8.3 30.6 26.4 74.2
Net Income (Loss) 57.8 64.3 151.1 146.6
AEP Texas Inc. [Member] | Transmission and Distribution Utilities [Member]        
Revenues        
Revenue from Contracts with Customers 404.5 411.5 1,127.0 1,111.4
AEP Texas Inc. [Member] | Other Revenues [Member]        
Revenues        
Revenue from Contracts with Customers 1.4 0.8 3.0 2.1
TOTAL REVENUES 27.1 [5]   62.1 [6]  
AEP Texas Inc. [Member] | Fuel and Other Consumables Used for Electric Generation [Member]        
Revenues        
Revenue from Contracts with Customers 0.0 [7]   0.0 [8]  
Expenses        
Cost of Goods and Services Sold 13.2 8.3 27.9 17.2
AEP Transmission Co [Member]        
Revenues        
Revenue from Contracts with Customers [9] 206.8      
Sales to AEP Affiliates 148.4 130.1 [10] 453.8 [10] 439.1 [10]
TOTAL REVENUES 194.4 [9] 165.6 [10] 586.2 [9],[10] 534.8 [10]
Expenses        
Other Operation 24.5 18.4 59.6 38.8
Maintenance 2.8 1.4 7.6 6.8
Depreciation and Amortization 34.9 24.6 97.5 69.7
Taxes Other Than Income Taxes 35.2 27.6 102.9 82.0
TOTAL EXPENSES 97.4 72.0 267.6 197.3
OPERATING INCOME (LOSS) 97.0 93.6 318.6 337.5
Other Income (Expense):        
Interest Income 0.5 0.2 [10] 1.3 [10] 0.5 [10]
Allowance for Equity Funds Used During Construction 18.0 11.4 48.7 33.0
Interest Expense (19.8) (17.1) [10] (60.7) [10] (50.4) [10]
INCOME BEFORE INCOME TAX EXPENSE AND EQUITY EARNINGS 95.7 88.1 307.9 320.6
Income Tax Expense (Credit) 17.6 29.5 [10] 63.7 [10] 108.2 [10]
Net Income (Loss) 78.1 58.6 [10] 244.2 [10] 212.4 [10]
AEP Transmission Co [Member] | Transmission [Member]        
Revenues        
Revenue from Contracts with Customers 46.0 35.6 [10] 132.3 [10] 95.7 [10]
AEP Transmission Co [Member] | Other Revenues [Member]        
Revenues        
Revenue from Contracts with Customers 0.0 (0.1) [10] 0.1 [10] 0.0 [10]
TOTAL REVENUES [9] 0.0 [5]   0.0 [6]  
AEP Transmission Co [Member] | Fuel and Other Consumables Used for Electric Generation [Member]        
Revenues        
Revenue from Contracts with Customers [9] 0.0 [7]   0.0 [8]  
Appalachian Power Co [Member]        
Revenues        
Revenue from Contracts with Customers 764.1      
Sales to AEP Affiliates 42.9 41.9 138.7 130.6
TOTAL REVENUES 762.0 719.3 2,249.4 2,187.4
Expenses        
Other Operation 131.9 117.0 380.0 370.1
Maintenance 97.2 55.8 234.9 187.8
Depreciation and Amortization 105.7 102.8 319.5 304.1
Taxes Other Than Income Taxes 33.6 32.3 101.1 93.3
TOTAL EXPENSES 712.2 547.6 1,874.0 1,670.7
OPERATING INCOME (LOSS) 49.8 171.7 375.4 516.7
Other Income (Expense):        
Interest Income 0.4 0.3 1.3 1.1
Carrying Costs Income 0.2 0.4 1.2 1.0
Allowance for Equity Funds Used During Construction 4.1 2.7 9.6 6.2
Non-Service Cost Components of Net Periodic Benefit Cost 4.5 1.3 13.4 3.9
Interest Expense (50.8) (47.2) (146.0) (143.5)
INCOME BEFORE INCOME TAX EXPENSE AND EQUITY EARNINGS 8.2 129.2 254.9 385.4
Income Tax Expense (Credit) (78.9) 43.2 (35.1) 136.7
Net Income (Loss) 87.1 86.0 290.0 248.7
Appalachian Power Co [Member] | Vertically Integrated Utilities [Member]        
Revenues        
Revenue from Contracts with Customers 716.8 674.4 2,103.1 2,045.0
Appalachian Power Co [Member] | Other Revenues [Member]        
Revenues        
Revenue from Contracts with Customers 2.3 3.0 7.6 11.8
TOTAL REVENUES (0.9) [5]   (0.9) [6]  
Appalachian Power Co [Member] | Fuel and Other Consumables Used for Electric Generation [Member]        
Revenues        
Revenue from Contracts with Customers 74.5 [7]   194.1 [8]  
Sales to AEP Affiliates 30.0   100.0  
Expenses        
Cost of Goods and Services Sold 263.4 178.6 487.7 498.3
Appalachian Power Co [Member] | Purchased Electricity for Resale [Member]        
Expenses        
Cost of Goods and Services Sold 80.4 61.1 350.8 217.1
Indiana Michigan Power Co [Member]        
Revenues        
Revenue from Contracts with Customers 619.5      
Other Revenues - Affiliated 17.1 17.1 62.2 48.2
TOTAL REVENUES 629.7 557.7 1,796.2 1,585.5
Expenses        
Purchased Electricity from AEP Affiliates 60.0 62.4 181.8 166.2
Other Operation 149.3 142.0 425.8 438.8
Maintenance 57.2 51.5 169.1 153.6
Depreciation and Amortization 85.2 55.0 207.1 154.8
Taxes Other Than Income Taxes 23.0 23.9 72.9 68.3
TOTAL EXPENSES 519.5 444.1 1,471.2 1,321.1
OPERATING INCOME (LOSS) 110.2 113.6 325.0 264.4
Other Income (Expense):        
Interest Income 1.6 0.2 2.8 1.6
Carrying Costs Income 0.6 2.2 4.6 9.9
Allowance for Equity Funds Used During Construction 3.9 3.5 8.0 8.1
Non-Service Cost Components of Net Periodic Benefit Cost 4.6 1.5 13.6 4.6
Interest Expense (34.5) (27.5) (95.6) (83.0)
INCOME BEFORE INCOME TAX EXPENSE AND EQUITY EARNINGS 86.4 93.5 258.4 205.6
Income Tax Expense (Credit) 13.7 28.6 26.8 61.8
Net Income (Loss) 72.7 64.9 231.6 143.8
Indiana Michigan Power Co [Member] | Vertically Integrated Utilities [Member]        
Revenues        
Revenue from Contracts with Customers 609.9 537.0 1,723.9 1,527.4
Indiana Michigan Power Co [Member] | Other Revenues [Member]        
Revenues        
Revenue from Contracts with Customers 2.7 3.6 10.1 9.9
Sales to AEP Affiliates 17.0   57.0  
TOTAL REVENUES 8.7 [5]   0.0 [6]  
Indiana Michigan Power Co [Member] | Fuel and Other Consumables Used for Electric Generation [Member]        
Revenues        
Revenue from Contracts with Customers 93.6 [7]   349.7 [8]  
Expenses        
Cost of Goods and Services Sold 95.9 76.4 246.8 238.2
Indiana Michigan Power Co [Member] | Purchased Electricity for Resale [Member]        
Expenses        
Cost of Goods and Services Sold 48.9 32.9 167.7 101.2
Ohio Power Co [Member]        
Revenues        
Revenue from Contracts with Customers 740.9      
Sales to AEP Affiliates 3.3 4.6 17.9 19.4
TOTAL REVENUES 778.3 742.0 2,318.0 2,152.0
Expenses        
Purchased Electricity from AEP Affiliates 39.3 26.7 97.4 83.4
Amortization of Generation Deferrals 56.9 58.7 171.9 172.9
Other Operation 215.2 126.9 586.4 380.9
Maintenance 43.4 37.9 114.7 108.4
Depreciation and Amortization 70.4 57.3 200.3 165.7
Taxes Other Than Income Taxes 106.9 100.4 311.0 293.8
TOTAL EXPENSES 698.4 588.6 2,016.4 1,730.5
OPERATING INCOME (LOSS) 79.9 153.4 301.6 421.5
Other Income (Expense):        
Interest Income 0.8 0.7 2.6 4.0
Carrying Costs Income 0.2 0.5 1.5 3.0
Allowance for Equity Funds Used During Construction 2.0 0.9 7.8 4.1
Non-Service Cost Components of Net Periodic Benefit Cost 3.8 1.1 11.6 3.3
Interest Expense (26.1) (25.7) (76.6) (76.8)
INCOME BEFORE INCOME TAX EXPENSE AND EQUITY EARNINGS 60.6 130.9 248.5 359.1
Income Tax Expense (Credit) (28.1) 48.3 11.4 128.0
Net Income (Loss) 88.7 82.6 237.1 231.1
Ohio Power Co [Member] | Transmission and Distribution Utilities [Member]        
Revenues        
Revenue from Contracts with Customers 772.6 736.0 2,294.8 2,127.8
Ohio Power Co [Member] | Other Revenues [Member]        
Revenues        
Revenue from Contracts with Customers 2.4 1.4 5.3 4.8
TOTAL REVENUES 74.3 [5]   82.3 [6]  
Ohio Power Co [Member] | Fuel and Other Consumables Used for Electric Generation [Member]        
Revenues        
Revenue from Contracts with Customers 0.0 [7]   0.0 [8]  
Ohio Power Co [Member] | Purchased Electricity for Resale [Member]        
Expenses        
Cost of Goods and Services Sold 166.3 180.7 534.7 525.4
Public Service Co Of Oklahoma [Member]        
Revenues        
Revenue from Contracts with Customers 479.1      
Sales to AEP Affiliates 1.1 1.1 3.7 3.2
TOTAL REVENUES 481.4 442.8 1,216.5 1,091.6
Expenses        
Other Operation 106.3 84.5 286.8 228.9
Maintenance 22.3 25.2 73.2 88.2
Depreciation and Amortization 42.3 31.7 120.5 97.8
Taxes Other Than Income Taxes 10.8 9.8 32.6 30.0
TOTAL EXPENSES 402.9 356.9 1,076.9 940.5
OPERATING INCOME (LOSS) 78.5 85.9 139.6 151.1
Other Income (Expense):        
Allowance for Equity Funds Used During Construction     (0.3) 0.4
Other Income (0.2) 0.0 (0.3) 0.5
Non-Service Cost Components of Net Periodic Benefit Cost 2.1 0.9 6.5 2.6
Interest Expense (16.4) (13.2) (47.4) (40.2)
INCOME BEFORE INCOME TAX EXPENSE AND EQUITY EARNINGS 64.0 73.6 98.4 114.0
Income Tax Expense (Credit) 3.6 27.4 8.6 42.6
Net Income (Loss) 60.4 46.2 89.8 71.4
Public Service Co Of Oklahoma [Member] | Vertically Integrated Utilities [Member]        
Revenues        
Revenue from Contracts with Customers 479.1 440.6 1,209.5 1,085.1
Public Service Co Of Oklahoma [Member] | Other Revenues [Member]        
Revenues        
Revenue from Contracts with Customers 1.2 1.1 3.3 3.3
TOTAL REVENUES 0.0 [5]   0.0 [6]  
Public Service Co Of Oklahoma [Member] | Fuel and Other Consumables Used for Electric Generation [Member]        
Revenues        
Revenue from Contracts with Customers 12.5 [7]   26.7 [8]  
Expenses        
Cost of Goods and Services Sold 104.4 77.9 211.5 115.8
Public Service Co Of Oklahoma [Member] | Purchased Electricity for Resale [Member]        
Expenses        
Cost of Goods and Services Sold 116.8 127.8 352.3 379.8
Southwestern Electric Power Co [Member]        
Revenues        
Revenue from Contracts with Customers 535.6      
Sales to AEP Affiliates 8.7 7.7 20.2 20.4
TOTAL REVENUES 535.3 517.6 1,411.8 1,343.6
Expenses        
Other Operation 99.1 81.2 292.0 234.9
Maintenance 33.6 32.6 102.2 106.5
Depreciation and Amortization 59.9 55.2 175.9 158.1
Taxes Other Than Income Taxes 26.9 25.1 76.4 72.7
TOTAL EXPENSES 408.2 381.6 1,172.6 1,080.7
OPERATING INCOME (LOSS) 127.1 136.0 239.2 262.9
Other Income (Expense):        
Interest Income 1.1 0.7 3.5 2.0
Allowance for Equity Funds Used During Construction 0.6 0.4 3.8 1.2
Non-Service Cost Components of Net Periodic Benefit Cost 2.3 1.0 6.9 2.8
Interest Expense (32.7) (31.9) (95.8) (92.7)
INCOME BEFORE INCOME TAX EXPENSE AND EQUITY EARNINGS 98.4 106.2 157.6 176.2
Income Tax Expense (Credit) 9.6 22.5 17.9 45.2
Equity Earnings (Loss) of Unconsolidated Subsidiaries 0.8 0.4 2.0 (4.5)
Net Income (Loss) 89.6 84.1 141.7 126.5
Net Income Attributable to Noncontrolling Interests 1.4 11.0 4.1 12.6
Earnings Attributable to Common Shareholders 88.2 73.1 137.6 113.9
Southwestern Electric Power Co [Member] | Vertically Integrated Utilities [Member]        
Revenues        
Revenue from Contracts with Customers 526.0 509.5 1,390.4 1,321.8
Southwestern Electric Power Co [Member] | Other Revenues [Member]        
Revenues        
Revenue from Contracts with Customers 0.6 0.4 1.2 1.4
TOTAL REVENUES 0.0 [5]   0.0 [6]  
Southwestern Electric Power Co [Member] | Fuel and Other Consumables Used for Electric Generation [Member]        
Revenues        
Revenue from Contracts with Customers 53.2 [7]   168.8 [8]  
Expenses        
Cost of Goods and Services Sold 152.1 147.5 393.4 389.8
Southwestern Electric Power Co [Member] | Purchased Electricity for Resale [Member]        
Expenses        
Cost of Goods and Services Sold $ 36.6 $ 40.0 $ 132.7 $ 118.7
[1] Amounts include affiliated and nonaffiliated revenues.
[2] Amounts include affiliated and nonaffiliated revenues.
[3] Amounts include affiliated and nonaffiliated revenues. The affiliated revenue for Generation & Marketing is $35 million. The remaining affiliated amounts are immaterial.
[4] Amounts include affiliated and nonaffiliated revenues. The affiliated revenue for Generation & Marketing is $87 million. The remaining affiliated amounts are immaterial.
[5] Amounts include affiliated and nonaffiliated revenues.
[6] Amounts include affiliated and nonaffiliated revenues.
[7] Amounts include affiliated and nonaffiliated revenues. The affiliated revenue for APCo is $30 million primarily relating to the PPA with Kingsport. The remaining affiliated amounts are immaterial.
[8] Amounts include affiliated and nonaffiliated revenues. The affiliated revenue for APCo is $100 million primarily relating to the PPA with Kingsport. The remaining affiliated amounts are immaterial.
[9] The amounts presented reflect the revisions made to AEPTCo’s previously issued financial statements. For additional details on revisions made to AEPTCo’s financial statements, see Note 1- Significant Accounting Matters.
[10] The amounts presented reflect the revisions made to AEPTCo’s previously issued financial statements. For additional details on revisions made to AEPTCo’s financial statements, see Note 1- Significant Accounting Matters.