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Financing Activities (Tables)
9 Months Ended
Sep. 30, 2024
Long-term Debt
Type of DebtSeptember 30, 2024December 31, 2023
 (in millions)
Senior Unsecured Notes$35,771.2 $33,779.4 
Pollution Control Bonds1,770.4 1,771.6 
Notes Payable644.3 193.3 
Securitization Bonds285.7 368.9 
Spent Nuclear Fuel Obligation (a)312.7 300.4 
Junior Subordinated Notes2,578.0 2,388.1 
Other Long-term Debt612.1 1,341.5 
Total Long-term Debt Outstanding41,974.4 40,143.2 
Long-term Debt Due Within One Year2,826.7 2,490.5 
Long-term Debt$39,147.7 $37,652.7 

(a)Pursuant to the Nuclear Waste Policy Act of 1982, I&M, a nuclear licensee, has an obligation to the United States Department of Energy for SNF disposal. The obligation includes a one-time fee for nuclear fuel consumed prior to April 7, 1983. Trust fund assets related to this obligation were $366 million and $348 million as of September 30, 2024 and December 31, 2023, respectively, and are included in Spent Nuclear Fuel and Decommissioning Trusts on the balance sheets.
Long-term Debt Issuances
PrincipalInterest
CompanyType of DebtAmount (a)RateDue Date
Issuances: (in millions)(%)
AEPJunior Subordinated Notes$600.0 6.952054
AEPJunior Subordinated Notes400.0 7.052054
AEPTCoSenior Unsecured Notes450.0 5.152034
AEP TexasSenior Unsecured Notes500.0 5.452029
AEP TexasSenior Unsecured Notes350.0 5.702034
APCoPollution Control Bonds86.0 3.382028
APCoSenior Unsecured Notes400.0 5.652034
I&MNotes Payable80.4 6.412028
OPCoSenior Unsecured Notes350.0 5.652034
Non-Registrant:
AEGCoOther Long-term Debt70.0 Variable2025
Transource EnergyOther Long-term Debt50.0 Variable2025
WPCoNotes Payable450.0 6.892034
Total Issuances$3,786.4 

(a)Amounts indicated on the statements of cash flows are net of issuance costs and premium or discount and will not tie to the issuance amounts.
Retirements and Principal Payments
PrincipalInterest
CompanyType of DebtAmount PaidRateDue Date
Retirements and Principal Payments:
(in millions)(%)
AEPJunior Subordinated Debt$805.0 2.032024
AEP TexasOther Long-term Debt200.0 Variable2025
AEP TexasSecuritization Bonds32.6 2.852024
AEP TexasSecuritization Bonds23.9 2.062025
APCoOther Long-term Debt300.0 Variable2024
APCoOther Long-term Debt0.1 13.722026
APCoPollution Control Bonds86.0 2.552024
APCoSecuritization Bonds27.4 3.772028
I&MNotes Payable1.7 Variable2024
I&MNotes Payable7.4 0.932025
I&MNotes Payable2.9 Variable2025
I&MNotes Payable15.2 3.442026
I&MNotes Payable15.1 5.932027
I&MNotes Payable20.6 6.012028
I&MNotes Payable11.4 6.412028
I&MOther Long-term Debt1.8 6.002025
PSOOther Long-term Debt0.4 3.002027
Non-Registrant:
AEGCoNotes Payable5.0 2.432028
AEGCoOther Long-term Debt80.0 Variable2024
KPCoSenior Unsecured Notes65.0 3.132024
Transource EnergySenior Unsecured Notes1.4 2.752050
Transource EnergySenior Unsecured Notes1.2 2.752050
WPCoNotes Payable265.0 Variable2024
Total Retirements and Principal Payments
$1,969.1 
Utility Money Pool Participants' Money Pool Activity and Authorized Borrowing Limits
MaximumAverageNet Loans to
BorrowingsMaximumBorrowingsAverage(Borrowings from)Authorized
from theLoans to thefrom theLoans to thethe Utility MoneyShort-term
UtilityUtilityUtilityUtilityPool as ofBorrowing
CompanyMoney PoolMoney PoolMoney PoolMoney PoolSeptember 30, 2024Limit
 (in millions)
AEP Texas$374.6 $274.3 $237.0 $203.1 $54.7 $600.0 
AEPTCo313.3 332.0 75.7 159.2 152.6 820.0 (a)
APCo399.5 132.3 110.2 32.6 18.0 750.0 
I&M126.9 8.4 53.3 3.9 (77.0)500.0 
OPCo310.0 159.9 180.5 75.9 97.4 600.0 
PSO302.2 — 184.0 — (98.5)750.0 
SWEPCo362.2 — 243.2 — (237.4)750.0 

(a)    Amount represents the combined authorized short-term borrowing limit the State Transcos have from FERC or state regulatory commissions.
Nonutility Money Pool Activity
Maximum Loans Average Loans Loans to the Nonutility
to the Nonutility to the Nonutility Money Pool as of
CompanyMoney PoolMoney PoolSeptember 30, 2024
(in millions)
AEP Texas$7.1 $7.0 $7.1 
SWEPCo2.8 2.6 2.8 
Direct Borrowing Activity
BorrowingsAuthorized
MaximumMaximumAverageAveragefrom AEPLoans toShort-term
BorrowingsLoansBorrowingsLoansas of AEP as ofBorrowing
Companyfrom AEP to AEP from AEP to AEP September 30,September 30,Limit (a)
(in millions)
AEPTCo Parent$49.4 $148.5 $15.3 $69.8 $11.8 $— $— 
AEP SWTCo$1.9 $— $1.8 $— $1.8 $— $50.0 

(a)    Amount represents the authorized short-term borrowing limit from FERC or state regulatory agencies not otherwise included in the utility money pool above.
Maximum and Minimum Interest Rates for Funds Either Borrowed from or Loaned to Utility Money Pool
 Nine Months Ended September 30,
20242023
Maximum Interest Rate5.79 %5.81 %
Minimum Interest Rate5.14 %4.66 %
Average Interest Rates for Funds Borrowed from and Loaned to Utility Money Pool
Average Interest Rate for FundsAverage Interest Rate for Funds
Borrowed from the Utility Money PoolLoaned to the Utility Money Pool
for Nine Months Ended September 30,for Nine Months Ended September 30,
Company2024202320242023
AEP Texas5.69 %5.44 %5.48 %5.70 %
AEPTCo5.68 %5.29 %5.58 %5.52 %
APCo5.72 %5.47 %5.51 %5.47 %
I&M5.64 %5.13 %5.44 %5.54 %
OPCo5.70 %5.37 %5.49 %5.60 %
PSO5.59 %5.48 %— %5.24 %
SWEPCo5.58 %5.25 %— %5.72 %
Maximum Minimum Average Interest Rates for Funds Borrowed from Loaned to Nonutility Money Pool
Nine Months Ended September 30, 2024Nine Months Ended September 30, 2023
  Maximum Minimum AverageMaximum Minimum Average
  Interest Rate Interest Rate Interest RateInterest Rate Interest Rate Interest Rate
  for Funds for Funds for Fundsfor Funds for Funds for Funds
 Loaned to Loaned to Loaned toLoaned to Loaned to Loaned to
 the Nonutility the Nonutility the Nonutilitythe Nonutility the Nonutility the Nonutility
Company Money Pool Money Pool Money PoolMoney Pool Money Pool Money Pool
AEP Texas 5.79 %5.25 %5.64 %5.81 %4.66 %5.47 %
SWEPCo 5.79 %5.25 %5.64 %5.81 %4.66 %5.49 %
Maximum Minimum and Average Interest Rates for Funds Borrowed from and Loaned to AEP
 MaximumMinimumMaximumMinimumAverageAverage
 Interest RateInterest RateInterest RateInterest RateInterest RateInterest Rate
Nine Months for Fundsfor Fundsfor Fundsfor Fundsfor Fundsfor Funds
Ended BorrowedBorrowedLoanedLoanedBorrowedLoaned
September 30, from AEP from AEPto AEP to AEP from AEP to AEP
2024 5.79 %5.25 %5.79 %5.25 %5.66 %5.63 %
2023 5.81 %4.53 %5.81 %4.53 %5.43 %5.46 %
Short Term Debt
 September 30, 2024December 31, 2023
OutstandingInterestOutstandingInterest
CompanyType of DebtAmountRate (a)AmountRate (a)
 (dollars in millions)
AEPSecuritized Debt for Receivables (b)$900.0 5.32 %$888.0 5.65 %
AEPCommercial Paper755.0 5.26 %1,937.9 5.69 %
SWEPCoNotes Payable4.6 7.20 %4.3 7.71 %
Total Short-term Debt$1,659.6  $2,830.2  

(a)Weighted-average rate as of September 30, 2024 and December 31, 2023, respectively.
(b)Amount of securitized debt for receivables as accounted for under the “Transfers and Servicing” accounting guidance.
Comparative Accounts Receivable Information
Three Months Ended September 30,Nine Months Ended September 30,
2024202320242023
(dollars in millions)
Effective Interest Rates on Securitization of Accounts Receivable
5.50 %5.55 %5.54 %5.23 %
Net Uncollectible Accounts Receivable Written-Off$8.4 $8.8 $22.3 $22.9 
Customer Accounts Receivable Managed Portfolio
September 30, 2024December 31, 2023
(in millions)
Accounts Receivable Retained Interest and Pledged as Collateral Less Uncollectible Accounts
$1,285.4 $1,207.4 
Short-term – Securitized Debt of Receivables900.0 888.0 
Delinquent Securitized Accounts Receivable 66.4 52.2 
Bad Debt Reserves Related to Securitization44.9 42.0 
Unbilled Receivables Related to Securitization327.4 409.8 
Accounts Receivable and Accrued Unbilled Revenues
CompanySeptember 30, 2024December 31, 2023
 (in millions)
APCo$178.5 $184.6 
I&M183.6 156.4 
OPCo517.2 541.7 
PSO192.2 134.6 
SWEPCo189.2 168.3 
Fees Paid to AEP Credit for Customer Accounts Receivable Sold
 Three Months Ended September 30,Nine Months Ended September 30,
Company2024202320242023
 (in millions)
APCo$4.0 $4.1 $12.1 $13.3 
I&M4.1 4.4 12.0 12.2 
OPCo7.5 7.4 22.3 22.3 
PSO4.1 4.6 10.9 11.3 
SWEPCo4.4 5.2 13.5 13.9 
Proceeds on Sale of Receivables to AEP Credit
 Three Months Ended September 30,Nine Months Ended September 30,
Company2024202320242023
(in millions)
APCo$504.6 $451.6 $1,487.9 $1,372.7 
I&M576.7 553.3 1,608.5 1,575.9 
OPCo860.0 850.3 2,477.2 2,518.6 
PSO611.5 633.8 1,398.1 1,510.3 
SWEPCo531.4 558.4 1,428.7 1,456.5