SIGNIFICANT ACCOUNTING MATTERS (Tables)

3 Months Ended

Mar. 31, 2026

Accounting Policies [Abstract]

Schedule of Earnings Per Share, Basic and Diluted

The following table presents AEP’s basic and diluted EPS calculations included on the statements of income:

	Three Months Ended March 31,
	2026				2025
	(in millions, except per share data)
			$/share				$/share
Earnings Attributable to AEP Common Shareholders	$	874			$	800
Weighted-Average Number of Basic AEP Common Shares Outstanding	542.1		$	1.61	533.4		$	1.50
Weighted-Average Dilutive Effect	5.0		(0.01)		1.3		—
Weighted-Average Number of Diluted AEP Common Shares Outstanding	547.1		$	1.60	534.7		$	1.50

Schedule of Cash and Cash Equivalents

The following tables provide a reconciliation of Cash, Cash Equivalents and Restricted Cash reported within the balance sheets that sum to the total of the same amounts shown on the statements of cash flows:

	March 31, 2026
	AEP		AEP Texas		APCo		SWEPCo
	(in millions)
Cash and Cash Equivalents	$	306	$	—	$	4	$	2
Restricted Cash	33		6		12		7
Total Cash, Cash Equivalents and Restricted Cash	$	339	$	6	$	16	$	9

	December 31, 2025
	AEP		AEP Texas		APCo		SWEPCo
	(in millions)
Cash and Cash Equivalents	$	197	$	—	$	5	$	2
Restricted Cash	71		14		18		15
Total Cash, Cash Equivalents and Restricted Cash	$	268	$	14	$	23	$	17

Schedule of Restrictions on Cash and Cash Equivalents

The following tables provide a reconciliation of Cash, Cash Equivalents and Restricted Cash reported within the balance sheets that sum to the total of the same amounts shown on the statements of cash flows:

	March 31, 2026
	AEP		AEP Texas		APCo		SWEPCo
	(in millions)
Cash and Cash Equivalents	$	306	$	—	$	4	$	2
Restricted Cash	33		6		12		7
Total Cash, Cash Equivalents and Restricted Cash	$	339	$	6	$	16	$	9

	December 31, 2025
	AEP		AEP Texas		APCo		SWEPCo
	(in millions)
Cash and Cash Equivalents	$	197	$	—	$	5	$	2
Restricted Cash	71		14		18		15
Total Cash, Cash Equivalents and Restricted Cash	$	268	$	14	$	23	$	17

Schedule of Cash Flow, Supplemental Disclosures

	Three Months Ended March 31,
Cash Flow Information	2026		2025
	(in millions)
Cash Paid for:
Interest, Net of Capitalized Amounts	$	450	$	350
Noncash Investing and Financing Activities:
Acquisitions Under Finance Leases	24		8
Construction Expenditures Included in Current Liabilities as of March 31,	1,434		1,041
Contribution in Aid of Construction Advances in Current Assets as of March 31,	61		—
Acquisition of Nuclear Fuel Included in Current Liabilities as of March 31,	9		—

The following tables show the amount of income taxes paid or (received) on an interim basis, for each Registrant:

Three Months Ended March 31, 2026	AEP		AEP Texas		AEPTCo		APCo		I&M		OPCo		PSO		SWEPCo
	(in millions)
Income Taxes Paid/(Received)	$	—	$	(10)	$	2	$	(30)	$	22	$	(40)	$	31	$	31
Transfer Credits	(14)		—		—		(4)		—		—		(6)		(3)
Total Cash Paid/(Received)	$	(14)	$	(10)	$	2	$	(34)	$	22	$	(40)	$	25	$	28

Three Months Ended March 31, 2025	AEP		AEP Texas		AEPTCo		APCo		I&M		OPCo		PSO		SWEPCo
	(in millions)
Income Taxes Paid/(Received)	$	7	$	—	$	—	$	—	$	5	$	—	$	—	$	—
Transfer Credits	(17)		—		—		—		—		—		(9)		(9)
Total Cash Paid/(Received)	$	(10)	$	—	$	—	$	—	$	5	$	—	$	(9)	$	(9)