Income Taxes (Tables)

3 Months Ended

Mar. 31, 2023

Schedule of Effective Income Tax Rate Reconciliation

	Three Months Ended March 31, 2023
	AEP		AEP Texas		AEPTCo		APCo		I&M		OPCo		PSO		SWEPCo
U.S. Federal Statutory Rate	21.0	%	21.0	%	21.0	%	21.0	%	21.0	%	21.0	%	21.0	%	21.0	%
Increase (decrease) due to:
State Income Tax, net of Federal Benefit	1.9	%	0.3	%	2.6	%	2.4	%	3.6	%	1.0	%	3.2	%	(0.4)	%
Tax Reform Excess ADIT Reversal	(6.2)	%	(1.5)	%	0.3	%	(4.6)	%	(7.9)	%	(6.8)	%	(18.7)	%	(3.8)	%
Production and Investment Tax Credits	(9.7)	%	(0.2)	%	—	%	—	%	(1.1)	%	—	%	(55.7)	%	(26.4)	%
Flow Through	0.1	%	0.2	%	0.3	%	0.6	%	(1.8)	%	0.5	%	0.3	%	0.5	%
AFUDC Equity	(1.4)	%	(1.5)	%	(1.6)	%	(0.7)	%	(0.5)	%	(0.8)	%	(1.4)	%	(0.8)	%
Discrete Tax Adjustments	(3.2)	%	—	%	—	%	3.2	%	1.8	%	—	%	—	%	—	%
Other	0.1	%	0.1	%	0.1	%	—	%	—	%	—	%	(2.0)	%	(0.8)	%
Effective Income Tax Rate	2.6	%	18.4	%	22.7	%	21.9	%	15.1	%	14.9	%	(53.3)	%	(10.7)	%
	Three Months Ended March 31, 2022
	AEP		AEP Texas		AEPTCo		APCo		I&M		OPCo		PSO		SWEPCo
U.S. Federal Statutory Rate	21.0	%	21.0	%	21.0	%	21.0	%	21.0	%	21.0	%	21.0	%	21.0	%
Increase (decrease) due to:
State Income Tax, net of Federal Benefit	1.5	%	0.3	%	2.6	%	2.9	%	1.6	%	0.7	%	0.6	%	2.3	%
Tax Reform Excess ADIT Reversal	(6.6)	%	(2.0)	%	0.3	%	(5.8)	%	(17.3)	%	(7.8)	%	(15.3)	%	(4.9)	%
Production and Investment Tax Credits	(8.0)	%	(0.2)	%	—	%	—	%	(1.4)	%	—	%	(26.2)	%	(23.1)	%
Flow Through	0.3	%	0.3	%	0.3	%	1.7	%	(1.9)	%	0.9	%	0.6	%	(0.6)	%
AFUDC Equity	(0.9)	%	(0.9)	%	(1.6)	%	(0.7)	%	(0.6)	%	(0.6)	%	(0.7)	%	(0.5)	%
Discrete Tax Adjustments	(0.6)	%	—	%	—	%	(0.6)	%	—	%	—	%	—	%	—	%
Other	0.2	%	(0.1)	%	—	%	—	%	(0.2)	%	—	%	(0.8)	%	0.6	%
Effective Income Tax Rate	6.9	%	18.4	%	22.6	%	18.5	%	1.2	%	14.2	%	(20.8)	%	(5.2)	%