CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Mar. 31, 2026	Dec. 31, 2025
CURRENT ASSETS
Cash and Cash Equivalents	$ 306	$ 197
Restricted Cash	33	71
Other Temporary Investments	210	220
Accounts Receivable:
Customers	1,338	1,166
Accrued Unbilled Revenues	349	421
Pledged Accounts Receivable – AEP Credit	1,288	1,272
Miscellaneous	53	60
Allowance for Credit Losses	(58)	(52)
Total Accounts Receivable	2,970	2,867
Fuel	567	576
Materials and Supplies	1,098	1,046
Risk Management Assets	246	352
Accrued Tax Benefits	214	85
Regulatory Asset for Under-Recovered Fuel Costs	594	426
Prepayments and Other Current Assets	385	212
TOTAL CURRENT ASSETS	6,623	6,052
PROPERTY, PLANT AND EQUIPMENT
Generation	28,879	28,388
Transmission	43,093	42,557
Distribution	33,902	33,364
Other Property, Plant and Equipment (Including Coal Mining and Nuclear Fuel)	9,119	8,635
Construction Work in Progress	8,314	7,635
Total Property, Plant and Equipment	123,307	120,579
Accumulated Depreciation and Amortization	28,453	28,205
TOTAL PROPERTY, PLANT AND EQUIPMENT – NET	94,854	92,374
OTHER NONCURRENT ASSETS
Regulatory Assets	5,070	4,804
Securitized Assets	912	933
Spent Nuclear Fuel and Decommissioning Trusts	4,803	4,916
Goodwill	53	53
Long-term Risk Management Assets	233	265
Prepayments & Other Current Assets	650	661
Deferred Charges and Other Noncurrent Assets	4,578	4,402
TOTAL OTHER NONCURRENT ASSETS	16,299	16,034
TOTAL ASSETS	117,776	114,460
CURRENT LIABILITIES
Accounts Payable	3,148	3,429
Short-term Debt:
Securitized Debt for Receivables – AEP Credit	900	900
Other Short-term Debt	655	608
Total Short-term Debt	1,555	1,508
Long-term Debt Due Within One Year	2,704	3,194
Risk Management Liabilities	130	132
Customer Deposits	521	507
Accrued Taxes	1,888	2,002
Accrued Interest	629	544
Obligations Under Operating Leases	95	100
Other Current Liabilities	1,924	1,898
TOTAL CURRENT LIABILITIES	12,594	13,314
NONCURRENT LIABILITIES
Long-term Debt	46,850	44,128
Long-term Risk Management Liabilities	165	178
Deferred Income Taxes	11,249	10,951
Regulatory Liabilities and Deferred Investment Tax Credits	8,230	8,362
Accounts Payables	3,607	3,556
Employee Benefits and Pension Obligations	245	232
Obligations Under Operating Leases	572	578
Deferred Credits and Other Noncurrent Liabilities	1,235	905
TOTAL NONCURRENT LIABILITIES	72,153	68,890
TOTAL LIABILITIES	84,747	82,204
Rate Matters (Note 4)
Commitments, Guarantees and Contingencies (Note 5)
Contingently Redeemable Performance Share Awards	51	38
EQUITY
Common Stock	3,544	3,523
Paid-in Capital	12,447	12,138
Retained Earnings	15,795	15,441
Accumulated Other Comprehensive Income (Loss)	22	36
TOTAL COMMON SHAREHOLDER’S EQUITY	31,808	31,138
Noncontrolling Interests	1,170	1,080
TOTAL EQUITY	32,978	32,218
TOTAL LIABILITIES AND EQUITY	$ 117,776	$ 114,460