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BENEFIT PLANS (Tables)
 12 Months Ended
Dec. 31, 2025
Retirement Benefits [Abstract]  
Schedule of Actuarial Assumptions
The weighted-average assumptions used in the measurement of the Registrants’ benefit obligations are shown in the following tables:
Pension PlansOPEB
December 31,
Assumption2025202420252024
Discount Rate5.50 %5.65 %5.50 %5.60 %
Interest Crediting Rate4.40 %4.55 %NANA
NA    Not applicable.

Assumption – Rate of Compensation Increase (a) - Pension Plans
AEPAEP TexasAPCoI&MOPCoPSOSWEPCo
December 31, 20254.55 %4.50 %4.50 %4.45 %4.80 %4.65 %4.50 %
December 31, 20245.55 %5.70 %5.55 %5.50 %6.00 %5.70 %5.55 %
(a)Rates are for base pay only.  In addition, an amount is added to reflect target incentive compensation for exempt employees and overtime and incentive pay for nonexempt employees.
The weighted-average assumptions used in the measurement of each Registrants’ benefit costs are shown in the following tables:
Pension PlansOPEB
Year Ended December 31,
Assumption202520242023202520242023
Discount Rate5.65 %5.20 %5.50 %5.60 %5.15 %5.50 %
Interest Crediting Rate4.55 %4.05 %4.25 %NANANA
Expected Return on Plan Assets7.00 %7.30 %7.50 %6.50 %6.75 %7.25 %
NA    Not applicable.
Assumption – Rate of Compensation Increase (a) - Pension Plans
AEPAEP TexasAPCoI&MOPCoPSOSWEPCo
December 31, 20255.75 %5.90 %5.80 %5.60 %6.10 %5.90 %5.70 %
December 31, 20245.10 %5.25 %5.10 %5.10 %5.50 %5.20 %5.10 %
December 31, 20235.05 %5.20 %4.95 %5.05 %5.45 %5.20 %5.00 %
(a)Rates are for base pay only.  In addition, an amount is added to reflect target incentive compensation for exempt employees and overtime and incentive pay for nonexempt employees.
Schedule of Health Care Trend Rates
The health care trend rate assumptions used for OPEB plans measurement purposes are shown below:
Health Care Trend RatesDecember 31, 2025December 31, 2024
Initial6.00 % 6.50 %
Ultimate4.50 % 4.50 %
Year Ultimate Reached2031 2029
Schedule of Reconciliation of Changes in Benefit Obligations and Fair Value of Assets
2025AEPAEP TexasAPCoI&MOPCoPSOSWEPCo
Change in Benefit Obligation(in millions)
Benefit Obligation as of January 1,$3,872 $323 $453 $450 $351 $190 $228 
Service Cost96 9 9 13 9 6 8 
Interest Cost211 17 25 25 19 10 13 
Actuarial Loss46 7 11 5 6 2 4 
Benefit Payments(382)(29)(43)(45)(39)(18)(20)
Benefit Obligation as of December 31,$3,843 $327 $455 $448 $346 $190 $233 
Change in Fair Value of Plan Assets
Fair Value of Plan Assets as of January 1,$3,666 $288 $488 $507 $381 $200 $189 
Actual Gain on Plan Assets372 32 53 50 39 21 22 
Company Contributions (a)103 12 — 2 — 2 9 
Benefit Payments(382)(29)(43)(45)(39)(18)(20)
Fair Value of Plan Assets as of December 31,$3,759 $303 $498 $514 $381 $205 $200 
Funded (Underfunded) Status as of December 31,$(84)$(24)$43 $66 $35 $15 $(33)

2024AEPAEP TexasAPCoI&MOPCoPSOSWEPCo
Change in Benefit Obligation(in millions)
Benefit Obligation as of January 1,$4,162 $343 $504 $477 $378 $202 $261 
Service Cost101 9 9 13 9 6 8 
Interest Cost207 17 25 24 19 10 12 
Actuarial (Gain) Loss(45)6 (13)(8)(8)— (11)
Settlements(329)(35)(42)(33)(23)(18)(33)
Benefit Payments(224)(17)(30)(23)(24)(10)(9)
Benefit Obligation as of December 31,$3,872 $323 $453 $450 $351 $190 $228 
Change in Fair Value of Plan Assets
Fair Value of Plan Assets as of January 1,$4,118 $333 $550 $551 $419 $223 $227 
Actual Gain on Plan Assets87 7 10 12 9 5 4 
Company Contributions (a)14 — — — — — — 
Settlements(329)(35)(42)(33)(23)(18)(33)
Benefit Payments(224)(17)(30)(23)(24)(10)(9)
Fair Value of Plan Assets as of December 31,$3,666 $288 $488 $507 $381 $200 $189 
Funded (Underfunded) Status as of December 31,$(206)$(35)$35 $57 $30 $10 $(39)

(a)Contributions to the qualified pension plan were $95 million for the year ended December 31, 2025. No contributions were made to the qualified pension plan for the year ended December 31, 2024. Contributions to the non-qualified pension plans were $8 million and $14 million for the years ended December 31, 2025 and 2024, respectively.
OPEB
2025AEPAEP TexasAPCoI&MOPCoPSOSWEPCo
Change in Benefit Obligation(in millions)
Benefit Obligation as of January 1,$647 $50 $102 $73 $63 $33 $41 
Service Cost4 — 1 — — — — 
Interest Cost34 3 5 4 3 2 2 
Actuarial (Gain) Loss(50)(1)(8)(5)(4)(2)(2)
Benefit Payments(105)(9)(17)(13)(11)(6)(7)
Participant Contributions46 3 7 6 5 3 3 
Benefit Obligation as of December 31,$576 $46 $90 $65 $56 $30 $37 
Change in Fair Value of Plan Assets
Fair Value of Plan Assets as of January 1,$1,776 $147 $256 $212 $185 $95 $121 
Actual Gain on Plan Assets262 27 39 32 24 17 21 
Company Contributions1 — 1 — — — — 
Participant Contributions46 3 7 6 5 3 3 
Benefit Payments(105)(9)(17)(13)(11)(6)(7)
Fair Value of Plan Assets as of December 31,$1,980 $168 $286 $237 $203 $109 $138 
Funded Status as of December 31,$1,404 $122 $196 $172 $147 $79 $101 

2024AEPAEP TexasAPCoI&MOPCoPSOSWEPCo
Change in Benefit Obligation(in millions)
Benefit Obligation as of January 1,$850 $66 $135 $99 $86 $44 $54 
Service Cost4 — — 1 — — — 
Interest Cost42 3 7 5 4 2 3 
Actuarial (Gain) Loss(192)(15)(31)(25)(21)(10)(12)
Special/Contractual Termination Benefits4 — 1 — — — — 
Benefit Payments(106)(8)(17)(13)(11)(6)(7)
Participant Contributions45 4 7 6 5 3 3 
Benefit Obligation as of December 31,$647 $50 $102 $73 $63 $33 $41 
Change in Fair Value of Plan Assets
Fair Value of Plan Assets as of January 1,$1,673 $137 $243 $205 $177 $90 $111 
Actual Gain on Plan Assets160 14 22 14 14 8 14 
Company Contributions 4 — 1 — — — — 
Participant Contributions45 4 7 6 5 3 3 
Benefit Payments(106)(8)(17)(13)(11)(6)(7)
Fair Value of Plan Assets as of December 31,$1,776 $147 $256 $212 $185 $95 $121 
Funded Status as of December 31,$1,129 $97 $154 $139 $122 $62 $80 
Schedule of Benefit Amounts Recognized on the Balance Sheets
Amounts Included on the Balance Sheets Related to Funded Status

Pension Plans
December 31, 2025AEPAEP TexasAPCoI&MOPCoPSOSWEPCo
(in millions)
Other Noncurrent Assets - Employee Benefits and Pension Assets$— $— $43 $67 $35 $16 $— 
Other Current Liabilities – Accrued Short-term Benefit Liability(6)— — — — — — 
Other Noncurrent Liabilities – Accrued Long-term Benefit Liability(78)(24)— (1)— (1)(33)
Funded (Underfunded) Status$(84)$(24)$43 $66 $35 $15 $(33)

December 31, 2024AEPAEP TexasAPCoI&MOPCoPSOSWEPCo
(in millions)
Other Noncurrent Assets - Employee Benefits and Pension Assets$— $— $35 $58 $30 $11 $— 
Other Current Liabilities – Accrued Short-term Benefit Liability(5)(1)— — — — — 
Other Noncurrent Liabilities – Accrued Long-term Benefit Liability(201)(34)— (1)— (1)(39)
Funded (Underfunded) Status$(206)$(35)$35 $57 $30 $10 $(39)

OPEB
December 31, 2025AEPAEP TexasAPCoI&MOPCoPSOSWEPCo
(in millions)
Other Noncurrent Assets - Employee Benefits and Pension Assets$1,404 $122 $208 $172 $147 $79 $101 
Other Current Liabilities – Accrued Short-term Benefit Liability(2)— (1)— — — — 
Other Noncurrent Liabilities – Accrued Long-term Benefit Liability2 — (11)— — — — 
Funded Status$1,404 $122 $196 $172 $147 $79 $101 

December 31, 2024AEPAEP TexasAPCoI&MOPCoPSOSWEPCo
(in millions)
Other Noncurrent Assets - Employee Benefits and Pension Assets$1,130 $97 $168 $139 $122 $62 $80 
Other Current Liabilities – Accrued Short-term Benefit Liability(2)— (1)— — — — 
Other Noncurrent Liabilities – Accrued Long-term Benefit Liability1 — (13)— — — — 
Funded Status$1,129 $97 $154 $139 $122 $62 $80 
Schedule of Amounts Included in AOCI and Regulatory Assets
The following tables show the components of the plans included in Regulatory Assets, Deferred Income Taxes and AOCI and the items attributable to the change in these components:

Pension Plans
December 31, 2025AEPAEP TexasAPCoI&MOPCoPSOSWEPCo
Components(in millions)
Net Actuarial Loss$1,094 $185 $105 $— $135 $49 $79 
Recorded as
Regulatory Assets$984 $173 $104 $9 $135 $49 $79 
Deferred Income Taxes23 2 — (1)— — — 
Net of Tax AOCI87 10 1 (8)— — — 
December 31, 2024AEPAEP TexasAPCoI&MOPCoPSOSWEPCo
Components(in millions)
Net Actuarial Loss$1,154 $189 $112 $8 $141 $54 $83 
Recorded as
Regulatory Assets$1,020 $177 $110 $18 $141 $54 $83 
Deferred Income Taxes28 2 — (2)— — — 
Net of Tax AOCI106 10 2 (8)— — — 
December 31, 2025AEPAEP TexasAPCoI&MOPCoPSOSWEPCo
Components(in millions)
Net Actuarial Gain$(241)$(18)$(40)$(21)$(23)$(7)$(15)
Prior Service Credit(12)(1)(2)(3)(1)(1)(1)
Recorded as
Regulatory Assets$(195)$(18)$(15)$(24)$(24)$(8)$(9)
Deferred Income Taxes(12)— (6)— — — (1)
Net of Tax AOCI(46)(1)(21)— — — (6)
December 31, 2024AEPAEP TexasAPCoI&MOPCoPSOSWEPCo
Components(in millions)
Net Actuarial (Gain) Loss$(42)$2 $(10)$2 $(5)$5 $— 
Prior Service Credit(15)(1)(2)(2)(2)(1)(1)
Recorded as
Regulatory Assets$(56)$1 $(2)$(3)$(7)$4 $— 
Deferred Income Taxes— — (2)1 — — — 
Net of Tax AOCI(1)— (8)2 — — (1)
Schedule of Components of Change in Amounts Included in AOCI and Regulatory Assets
December 31, 2025AEPAEP TexasAPCoI&MOPCoPSOSWEPCo
Components(in millions)
Actuarial Gain During the Year$(44)$(3)$(5)$(6)$(5)$(4)$(3)
Amortization of Actuarial Loss(16)(1)(2)(2)(1)(1)(1)
Change for the Year Ended December 31,$(60)$(4)$(7)$(8)$(6)$(5)$(4)
December 31, 2024AEPAEP TexasAPCoI&MOPCoPSOSWEPCo
Components(in millions)
Actuarial Loss During the Year$188 $24 $19 $23 $16 $12 $2 
Amortization of Actuarial Loss(5)— — (1)— — — 
Amounts Recognized Due to Settlement(93)(10)(12)(9)(7)(5)(9)
Change for the Year Ended December 31,$90 $14 $7 $13 $9 $7 $(7)
December 31, 2025AEPAEP TexasAPCoI&MOPCoPSOSWEPCo
Components(in millions)
Actuarial Gain During the Year$(199)$(20)$(30)$(23)$(18)$(12)$(15)
Amortization of Prior Service Credit3 — — (1)1 — — 
Change for the Year Ended December 31,$(196)$(20)$(30)$(24)$(17)$(12)$(15)
December 31, 2024AEPAEP TexasAPCoI&MOPCoPSOSWEPCo
Components(in millions)
Actuarial Gain During the Year$(240)$(20)$(37)$(26)$(23)$(13)$(18)
Amortization of Actuarial Loss(3)— — (1)— — — 
Amortization of Prior Service Credit13 1 2 2 1 1 1 
Change for the Year Ended December 31,$(230)$(19)$(35)$(25)$(22)$(12)$(17)
Schedule of Allocated Assets of Investments All Level 1, 2, 3 and Other amounts can be allocated to the Registrant Subsidiaries using the percentages in the table below:
Pension PlanOPEB
December 31,
Company2025202420252024
AEP Texas8.1 %7.9 %8.5 %8.3 %
APCo13.2 %13.3 %14.4 %14.4 %
I&M13.7 %13.8 %12.0 %11.9 %
OPCo10.1 %10.4 %10.2 %10.4 %
PSO5.4 %5.5 %5.5 %5.4 %
SWEPCo5.3 %5.2 %7.0 %6.8 %
Schedule of Assets within Fair Value Hierarchy
The following table presents the classification of pension plan assets for AEP within the fair value hierarchy as of December 31, 2025:
Asset ClassLevel 1Level 2Level 3OtherTotalYear End
Allocation
(in millions)
Equities (a):
Domestic$109 $— $— $— $109 2.9 %
International68 — — — 68 1.8 %
Common Collective Trusts (b)228 — — 901 1,129 30.0 %
Subtotal – Equities405 — — 901 1,306 34.7 %
Fixed Income (a):
 United States Government and Agency Securities— 1,060 — — 1,060 28.2 %
Corporate Debt— 627 — — 627 16.7 %
Foreign Debt— 110 — — 110 2.9 %
State and Local Government— 21 — — 21 0.6 %
Other – Asset Backed— 5 — — 5 0.1 %
Subtotal – Fixed Income— 1,823 — — 1,823 48.5 %
Infrastructure (b)— — — 114 114 3.0 %
Real Estate (b)— — — 221 221 5.9 %
Alternative Investments (b)— — — 218 218 5.8 %
Cash and Cash Equivalents (b)— 18 — 29 47 1.3 %
Other – Pending Transactions and Accrued Income (c)— — — 30 30 0.8 %
Total$405 $1,841 $— $1,513 $3,759 100.0 %

(a)Includes investment securities loaned to borrowers under the securities lending program. See the “Investments Held in Trust for Future Liabilities” section of Note 1 for additional information.
(b)Amounts in “Other” column represent investments for which fair value is measured using net asset value per-share.
(c)Amounts in “Other” column primarily represent accrued interest, dividend receivables and transactions pending settlement.
The following table presents the classification of OPEB plan assets for AEP within the fair value hierarchy as of December 31, 2025:
Asset ClassLevel 1Level 2Level 3OtherTotalYear End
Allocation
(in millions)
Equities:
Domestic$643 $— $— $— $643 32.5 %
International241 — — — 241 12.2 %
Common Collective Trusts (a)85 — — 287 372 18.8 %
Subtotal – Equities969 — — 287 1,256 63.5 %
Fixed Income:
United States Government and Agency Securities— 265 — — 265 13.4 %
Corporate Debt— 141 — — 141 7.1 %
Foreign Debt— 26 — — 26 1.3 %
State and Local Government84 4 — — 88 4.4 %
Other – Asset Backed— 2 — — 2 0.1 %
Subtotal – Fixed Income84 438 — — 522 26.3 %
Trust Owned Life Insurance:
International Equities— 30 — — 30 1.5 %
United States Bonds— 110 — — 110 5.6 %
Subtotal – Trust Owned Life Insurance— 140 — — 140 7.1 %
Cash and Cash Equivalents (a)28 — — — 28 1.4 %
Other – Pending Transactions and Accrued Income (b)— — — 34 34 1.7 %
Total$1,081 $578 $— $321 $1,980 100.0 %
 
(a)Amounts in “Other” column represent investments for which fair value is measured using net asset value per-share.
(b)Amounts in “Other” column primarily represent accrued interest, dividend receivables and transactions pending settlement.
The following table presents the classification of pension plan assets for AEP within the fair value hierarchy as of December 31, 2024:
Asset ClassLevel 1Level 2Level 3OtherTotalYear End
Allocation
(in millions)
Equities (a):
Domestic$327 $— $— $— $327 8.9 %
International290 — — — 290 7.9 %
Common Collective Trusts (b)176 — — 473 649 17.7 %
Subtotal – Equities793 — — 473 1,266 34.5 %
Fixed Income (a):
United States Government and Agency Securities(2)866 — — 864 23.6 %
Corporate Debt— 719 — — 719 19.6 %
Foreign Debt— 136 — — 136 3.7 %
State and Local Government— 26 — — 26 0.7 %
Other – Asset Backed— 1 — — 1 — %
Subtotal – Fixed Income(2)1,748 — — 1,746 47.6 %
Infrastructure (b)— — — 113 113 3.1 %
Real Estate (b)— — — 228 228 6.2 %
Alternative Investments (b)— — — 224 224 6.1 %
Cash and Cash Equivalents (b)— 41 — 27 68 1.9 %
Other – Pending Transactions and Accrued Income (c)— — — 21 21 0.6 %
Total$791 $1,789 $— $1,086 $3,666 100.0 %

(a)Includes investment securities loaned to borrowers under the securities lending program. See the “Investments Held in Trust for Future Liabilities” section of Note 1 for additional information.
(b)Amounts in “Other” column represent investments for which fair value is measured using net asset value per-share.
(c)Amounts in “Other” column primarily represent accrued interest, dividend receivables and transactions pending settlement.
The following table presents the classification of OPEB plan assets for AEP within the fair value hierarchy as of December 31, 2024:
Asset ClassLevel 1Level 2Level 3OtherTotalYear End
Allocation
(in millions)
Equities:
Domestic$617 $— $— $— $617 34.7 %
International267 — — — 267 15.0 %
Common Collective Trusts (a)64 — — 130 194 10.9 %
Subtotal – Equities948 — — 130 1,078 60.6 %
Fixed Income:
Common Collective Trust – Debt (a)— — — 133 133 7.5 %
United States Government and Agency Securities(1)158 — — 157 8.9 %
Corporate Debt— 132 — — 132 7.5 %
Foreign Debt— 27 — — 27 1.5 %
State and Local Government58 5 — — 63 3.5 %
Subtotal – Fixed Income57 322 — 133 512 28.9 %
Trust Owned Life Insurance:
International Equities— 23 — — 23 1.3 %
United States Bonds— 118 — — 118 6.7 %
Subtotal – Trust Owned Life Insurance— 141 — — 141 8.0 %
Cash and Cash Equivalents (a)28 — — 3 31 1.7 %
Other – Pending Transactions and Accrued Income (b)— — — 14 14 0.8 %
Total$1,033 $463 $— $280 $1,776 100.0 %

(a)Amounts in “Other” column represent investments for which fair value is measured using net asset value per-share.
(b)Amounts in “Other” column primarily represent accrued interest, dividend receivables and transactions pending settlement.
Schedule of Accumulated Benefit Obligation
The accumulated benefit obligation for the pension plans is as follows:
Accumulated Benefit ObligationAEPAEP TexasAPCoI&MOPCoPSOSWEPCo
(in millions)
Qualified Pension Plan$3,559 $303 $433 $418 $319 $173 $212 
Nonqualified Pension Plans45 2 — 1 — 1 1 
Total as of December 31, 2025$3,604 $305 $433 $419 $319 $174 $213 

Accumulated Benefit ObligationAEPAEP TexasAPCoI&MOPCoPSOSWEPCo
(in millions)
Qualified Pension Plan$3,602 $301 $434 $422 $326 $175 $210 
Nonqualified Pension Plans47 2 — 1 — 1 1 
Total as of December 31, 2024$3,649 $303 $434 $423 $326 $176 $211 
Schedule of Underfunded Projected Benefit Obligation
The tables below show the underfunded pension plans that had obligations in excess of plan assets.

Projected Benefit Obligation
AEPAEP TexasAPCoI&MOPCoPSOSWEPCo
(in millions)
Projected Benefit Obligation$3,843 $327 $— $1 $1 $2 $233 
Fair Value of Plan Assets3,759 303 — — — — 200 
Underfunded Projected Benefit Obligation as of December 31, 2025
$(84)$(24)$— $(1)$(1)$(2)$(33)

AEPAEP TexasAPCoI&MOPCoPSOSWEPCo
(in millions)
Projected Benefit Obligation$3,872 $323 $1 $1 $— $1 $228 
Fair Value of Plan Assets3,666 288 — — — — 189 
Underfunded Projected Benefit Obligation as of December 31, 2024
$(206)$(35)$(1)$(1)$— $(1)$(39)
Schedule of Underfunded Accumulated Benefit Obligation
AEPAEP TexasAPCoI&MOPCoPSOSWEPCo
(in millions)
Accumulated Benefit Obligation$45 $2 $— $1 $— $1 $213 
Fair Value of Plan Assets— — — — — — 200 
Underfunded Accumulated Benefit Obligation as of December 31, 2025
$(45)$(2)$— $(1)$— $(1)$(13)

AEPAEP TexasAPCoI&MOPCoPSOSWEPCo
(in millions)
Accumulated Benefit Obligation$47 $303 $— $1 $— $1 $211 
Fair Value of Plan Assets— 288 — — — — 189 
Underfunded Accumulated Benefit Obligation as of December 31, 2024
$(47)$(15)$— $(1)$— $(1)$(22)
Schedule of Estimated Contributions and Payments to the Pension and OPEB Plans The following table provides the estimated contributions and payments by Registrant for 2026:
AEPAEP TexasAPCoI&MOPCoPSOSWEPCo
(in millions)
Pension Plans$83 $11 $— $1 $— $— $8 
OPEB2 — 1 — — — — 
Schedule of Estimated Payments Expected to be Made by the Pension and OPEB Plans The estimated payments for the pension benefits and OPEB are as follows:
Pension PlansAEPAEP TexasAPCoI&MOPCoPSOSWEPCo
(in millions)
2026$357 $35 $43 $42 $32 $18 $21 
2027352 32 42 41 32 17 21 
2028352 32 41 41 31 18 21 
2029342 31 41 38 30 16 20 
2030331 29 40 38 29 16 20 
Years 2031 to 2035, in Total1,573 127 189 182 139 76 95 
 
OPEB Benefit PaymentsAEPAEP TexasAPCoI&MOPCoPSOSWEPCo
(in millions)
2026$111 $9 $17 $14 $11 $6 $8 
2027110 9 17 14 11 6 8 
2028108 9 17 13 11 6 8 
2029105 9 17 13 10 6 7 
2030104 8 16 13 10 6 7 
Years 2031 to 2035, in Total486 39 75 59 48 27 35 

OPEB Medicare
Subsidy Receipts		AEPAEP TexasAPCoI&MOPCoPSOSWEPCo
(in millions)
2026$— $— $— $— $— $— $— 
2027— — — — — — — 
2028— — — — — — — 
2029— — — — — — — 
2030— — — — — — — 
Years 2031 to 2035, in Total1 — — — — — — 
Schedule of Components of Net Periodic Benefit Cost
The following tables provide the components of net periodic benefit cost (credit) by Registrant for the plans:

Pension Plans
2025AEPAEP TexasAPCoI&MOPCoPSOSWEPCo
(in millions)
Service Cost$96 $9 $9 $13 $9 $6 $8 
Interest Cost211 17 25 25 19 10 13 
Expected Return on Plan Assets(281)(23)(38)(39)(28)(15)(15)
Amortization of Net Actuarial Loss16 1 2 2 1 1 1 
Net Periodic Benefit Cost (Credit)42 4 (2)1 1 2 7 
Capitalized Portion(45)(5)(4)(4)(5)(3)(3)
Net Periodic Benefit Cost (Credit) Recognized in Expense$(3)$(1)$(6)$(3)$(4)$(1)$4 
2024AEPAEP TexasAPCoI&MOPCoPSOSWEPCo
(in millions)
Service Cost$101 $9 $9 $13 $9 $6 $8 
Interest Cost207 17 25 24 19 10 12 
Expected Return on Plan Assets(320)(25)(43)(42)(33)(17)(17)
Amortization of Net Actuarial Loss5 — — 1 — — — 
Settlements (a)93 10 12 9 7 5 9 
Net Periodic Benefit Cost86 11 3 5 2 4 12 
Capitalized Portion(47)(5)(4)(4)(5)(3)(3)
Net Periodic Benefit Cost (Credit) Recognized in Expense$39 $6 $(1)$1 $(3)$1 $9 
(a)AEP will seek recovery for the portion of pension settlement costs related to regulated operations. These costs were deferred as a regulatory asset for AEP, AEP Texas, APCo and PSO in the fourth quarter of 2024.

2023AEPAEP TexasAPCoI&MOPCoPSOSWEPCo
(in millions)
Service Cost$94 $8 $9 $12 $8 $5 $8 
Interest Cost219 18 26 25 20 11 14 
Expected Return on Plan Assets(339)(28)(44)(44)(34)(18)(20)
Amortization of Net Actuarial Loss2 — — — — — — 
Net Periodic Benefit Cost (Credit)(24)(2)(9)(7)(6)(2)2 
Capitalized Portion(44)(4)(4)(4)(5)(3)(3)
Net Periodic Benefit Credit Recognized in Expense$(68)$(6)$(13)$(11)$(11)$(5)$(1)

OPEB
2025AEPAEP TexasAPCoI&MOPCoPSOSWEPCo
(in millions)
Service Cost$4 $— $1 $— $— $— $— 
Interest Cost34 3 5 4 3 2 2 
Expected Return on Plan Assets(113)(9)(17)(13)(11)(6)(8)
Amortization of Prior Service Credit(3)— — 1 (1)— — 
Net Periodic Benefit Credit(78)(6)(11)(8)(9)(4)(6)
Capitalized Portion(2)— — — — — — 
Net Periodic Benefit Credit Recognized in Expense$(80)$(6)$(11)$(8)$(9)$(4)$(6)
2024AEPAEP TexasAPCoI&MOPCoPSOSWEPCo
(in millions)
Service Cost$4 $— $— $1 $— $— $— 
Interest Cost42 3 7 5 4 2 3 
Expected Return on Plan Assets(111)(8)(16)(14)(11)(5)(7)
Amortization of Prior Service Credit(13)(1)(2)(2)(1)(1)(1)
Amortization of Net Actuarial Loss3 — — 1 — — — 
Special/Contractual Termination Benefits4 — 1 — — — — 
Net Periodic Benefit Credit(71)(6)(10)(9)(8)(4)(5)
Capitalized Portion(2)— — — — — — 
Net Periodic Benefit Credit Recognized in Expense$(73)$(6)$(10)$(9)$(8)$(4)$(5)

2023AEPAEP TexasAPCoI&MOPCoPSOSWEPCo
(in millions)
Service Cost$5 $— $1 $1 $— $— $— 
Interest Cost46 4 7 5 4 2 3 
Expected Return on Plan Assets(110)(9)(16)(13)(12)(6)(7)
Amortization of Prior Service Credit(63)(5)(9)(9)(6)(4)(5)
Amortization of Net Actuarial Loss15 1 2 2 2 1 1 
Net Periodic Benefit Credit(107)(9)(15)(14)(12)(7)(8)
Capitalized Portion(2)— — — — — — 
Net Periodic Benefit Credit Recognized in Expense$(109)$(9)$(15)$(14)$(12)$(7)$(8)
Schedule of Cost for Matching Contributions to the Retirement Savings Plans
The following table provides the cost for matching contributions to the retirement savings plans by Registrant:
Year Ended December 31,AEPAEP TexasAPCoI&MOPCoPSOSWEPCo
(in millions)
2025$84 $7 $8 $11 $8 $6 $6 
202482 7 8 11 8 5 7 
202388 7 8 11 8 5 7