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v3.23.3

Derivatives and Hedging (Tables) | 9 Months Ended
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Sep. 30, 2023
Notional Volume of Derivative Instruments | Notional Volume of Derivative Instruments September 30, 2023
Primary Risk Exposure |  | Unit of Measure |  | AEP |  | AEP Texas |  | APCo |  | I&M |  | OPCo |  | PSO |  | SWEPCo
|  |  |  | (in millions)
Commodity: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Power |  | MWhs |  | 262.3 |  |  | — |  |  | 28.4 |  |  | 9.0 |  |  | 2.3 |  |  | 5.6 |  |  | 4.4 |
Natural Gas |  | MMBtus |  | 149.8 |  |  | — |  |  | 27.3 |  |  | — |  |  | — |  |  | 25.3 |  |  | 13.1 |
Heating Oil and Gasoline |  | Gallons |  | 8.3 |  |  | 2.2 |  |  | 1.3 |  |  | 0.8 |  |  | 1.7 |  |  | 1.1 |  |  | 1.2 |
Interest Rate |  | USD |  | $ | 80.1 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Interest Rate on Long-term Debt |  | USD |  | $ | 950.0 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
December 31, 2022
Primary Risk Exposure |  | Unit of Measure |  | AEP |  | AEP Texas |  | APCo |  | I&M |  | OPCo |  | PSO |  | SWEPCo
|  |  |  | (in millions)
Commodity: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Power |  | MWhs |  | 226.8 |  |  | — |  |  | 17.9 |  |  | 4.2 |  |  | 2.5 |  |  | 2.9 |  |  | 2.2 |
Natural Gas |  | MMBtus |  | 77.1 |  |  | — |  |  | 1.9 |  |  | — |  |  | — |  |  | 1.9 |  |  | 2.1 |
Heating Oil and Gasoline |  | Gallons |  | 6.9 |  |  | 1.9 |  |  | 1.0 |  |  | 0.7 |  |  | 1.4 |  |  | 0.9 |  |  | 1.0 |
Interest Rate |  | USD |  | $ | 99.9 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Interest Rate on Long-term Debt |  | USD |  | $ | 1,650.0 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 200.0 |  |  | $ | — |
Fair Value of Derivative Instruments | AEP
|  | September 30, 2023
|  | Risk Management Contracts |  | Hedging Contracts |  | Gross Amounts of Risk Management Assets/ Liabilities Recognized |  | Gross Amounts Offset in the Statement of Financial Position (b) |  | Net Amounts of Assets/Liabilities Presented in the Statement of Financial Position (c)
Balance Sheet Location |  | Commodity (a) |  | Commodity (a) |  | Interest Rate (a) |  |  |
|  | (in millions)
Current Risk Management Assets |  | $ | 595.7 |  |  | $ | 55.6 |  |  | $ | — |  |  | $ | 651.3 |  |  | $ | (388.6) |  |  | $ | 262.7 |
Long-term Risk Management Assets |  | 465.3 |  |  | 83.3 |  |  | — |  |  | 548.6 |  |  | (258.4) |  |  | 290.2 |
Total Assets |  | 1,061.0 |  |  | 138.9 |  |  | — |  |  | 1,199.9 |  |  | (647.0) |  |  | 552.9 |
Current Risk Management Liabilities |  | 460.3 |  |  | 9.9 |  |  | 43.2 |  |  | 513.4 |  |  | (361.9) |  |  | 151.5 |
Long-term Risk Management Liabilities |  | 374.8 |  |  | 1.2 |  |  | 94.9 |  |  | 470.9 |  |  | (192.5) |  |  | 278.4 |
Total Liabilities |  | 835.1 |  |  | 11.1 |  |  | 138.1 |  |  | 984.3 |  |  | (554.4) |  |  | 429.9 |
Total MTM Derivative Contract Net Assets (Liabilities) |  | $ | 225.9 |  |  | $ | 127.8 |  |  | $ | (138.1) |  |  | $ | 215.6 |  |  | $ | (92.6) |  |  | $ | 123.0 |
|  | December 31, 2022
|  | Risk Management Contracts |  | Hedging Contracts |  | Gross Amounts of Risk Management Assets/ Liabilities Recognized |  | Gross Amounts Offset in the Statement of Financial Position (b) |  | Net Amounts of Assets/Liabilities Presented in the Statement of Financial Position (c)
Balance Sheet Location |  | Commodity (a) |  | Commodity (a) |  | Interest Rate (a) |  |  |
|  | (in millions)
Current Risk Management Assets |  | $ | 965.4 |  |  | $ | 212.2 |  |  | $ | 1.8 |  |  | $ | 1,179.4 |  |  | $ | (830.6) |  |  | $ | 348.8 |
Long-term Risk Management Assets |  | 565.6 |  |  | 148.9 |  |  | 14.3 |  |  | 728.8 |  |  | (444.7) |  |  | 284.1 |
Total Assets |  | 1,531.0 |  |  | 361.1 |  |  | 16.1 |  |  | 1,908.2 |  |  | (1,275.3) |  |  | 632.9 |
Current Risk Management Liabilities |  | 663.8 |  |  | 60.4 |  |  | 41.4 |  |  | 765.6 |  |  | (620.4) |  |  | 145.2 |
Long-term Risk Management Liabilities |  | 412.0 |  |  | 17.4 |  |  | 91.1 |  |  | 520.5 |  |  | (175.3) |  |  | 345.2 |
Total Liabilities |  | 1,075.8 |  |  | 77.8 |  |  | 132.5 |  |  | 1,286.1 |  |  | (795.7) |  |  | 490.4 |
Total MTM Derivative Contract Net Assets (Liabilities) |  | $ | 455.2 |  |  | $ | 283.3 |  |  | $ | (116.4) |  |  | $ | 622.1 |  |  | $ | (479.6) |  |  | $ | 142.5 |
AEP Texas
|  | September 30, 2023
|  | Risk Management |  |  |  |  |  | Gross Amounts Offset |  | Net Amounts of Assets/Liabilities
|  | Contracts – |  |  |  |  | in the Statement of |  | Presented in the Statement of
Balance Sheet Location |  | Commodity (a) |  |  |  |  | Financial Position (b) |  | Financial Position (c)
|  | (in millions)
Current Risk Management Assets |  | $ | 0.4 |  |  |  |  |  |  | $ | — |  |  | $ | 0.4 |
Long-term Risk Management Assets |  | — |  |  |  |  |  |  | — |  |  | — |
Total Assets |  | 0.4 |  |  |  |  |  |  | — |  |  | 0.4 |
Current Risk Management Liabilities |  | — |  |  |  |  |  |  | — |  |  | — |
Long-term Risk Management Liabilities |  | — |  |  |  |  |  |  | — |  |  | — |
Total Liabilities |  | — |  |  |  |  |  |  | — |  |  | — |
Total MTM Derivative Contract Net Assets |  | $ | 0.4 |  |  |  |  |  |  | $ | — |  |  | $ | 0.4 |
|  | December 31, 2022
|  | Risk Management |  | Gross Amounts Offset |  | Net Amounts of Assets/Liabilities
|  | Contracts – |  | in the Statement of |  | Presented in the Statement of
Balance Sheet Location |  | Commodity (a) |  | Financial Position (b) |  | Financial Position (c)
|  | (in millions)
Current Risk Management Assets |  | $ | — |  |  | $ | — |  |  | $ | — |
Long-term Risk Management Assets |  | — |  |  | — |  |  | — |
Total Assets |  | — |  |  | — |  |  | — |
Current Risk Management Liabilities |  | — |  |  | — |  |  | — |
Long-term Risk Management Liabilities |  | — |  |  | — |  |  | — |
Total Liabilities |  | — |  |  | — |  |  | — |
Total MTM Derivative Contract Net Assets |  | $ | — |  |  | $ | — |  |  | $ | — |
APCo
|  | September 30, 2023
|  | Risk Management |  |  |  |  |  | Gross Amounts Offset |  | Net Amounts of Assets/Liabilities
|  | Contracts – |  |  |  |  |  | in the Statement of |  | Presented in the Statement of
Balance Sheet Location |  | Commodity (a) |  |  |  |  |  | Financial Position (b) |  | Financial Position (c)
|  | (in millions)
Current Risk Management Assets |  | $ | 48.8 |  |  |  |  |  |  | $ | (2.4) |  |  | $ | 46.4 |
Long-term Risk Management Assets |  | 0.8 |  |  |  |  |  |  | (0.6) |  |  | 0.2 |
Total Assets |  | 49.6 |  |  |  |  |  |  | (3.0) |  |  | 46.6 |
Current Risk Management Liabilities |  | 4.2 |  |  |  |  |  |  | (2.4) |  |  | 1.8 |
Long-term Risk Management Liabilities |  | 1.5 |  |  |  |  |  |  | (0.6) |  |  | 0.9 |
Total Liabilities |  | 5.7 |  |  |  |  |  |  | (3.0) |  |  | 2.7 |
Total MTM Derivative Contract Net Assets |  | $ | 43.9 |  |  |  |  |  |  | $ | — |  |  | $ | 43.9 |
|  | December 31, 2022
|  | Risk Management |  |  |  |  |  | Gross Amounts Offset |  | Net Amounts of Assets/Liabilities
|  | Contracts – |  |  |  |  |  | in the Statement of |  | Presented in the Statement of
Balance Sheet Location |  | Commodity (a) |  |  |  |  |  | Financial Position (b) |  | Financial Position (c)
|  | (in millions)
Current Risk Management Assets |  | $ | 69.3 |  |  |  |  |  |  | $ | (0.2) |  |  | $ | 69.1 |
Long-term Risk Management Assets |  | 0.7 |  |  |  |  |  |  | (0.7) |  |  | — |
Total Assets |  | 70.0 |  |  |  |  |  |  | (0.9) |  |  | 69.1 |
Current Risk Management Liabilities |  | 4.1 |  |  |  |  |  |  | (0.5) |  |  | 3.6 |
Long-term Risk Management Liabilities |  | 0.7 |  |  |  |  |  |  | (0.6) |  |  | 0.1 |
Total Liabilities |  | 4.8 |  |  |  |  |  |  | (1.1) |  |  | 3.7 |
Total MTM Derivative Contract Net Assets |  | $ | 65.2 |  |  |  |  |  |  | $ | 0.2 |  |  | $ | 65.4 |
I&M
|  | September 30, 2023
|  | Risk Management |  | Gross Amounts Offset |  | Net Amounts of Assets/Liabilities
|  | Contracts – |  | in the Statement of |  | Presented in the Statement of
Balance Sheet Location |  | Commodity (a) |  | Financial Position (b) |  | Financial Position (c)
|  | (in millions)
Current Risk Management Assets |  | $ | 20.2 |  |  | $ | (4.4) |  |  | $ | 15.8 |
Long-term Risk Management Assets |  | 6.6 |  |  | (1.2) |  |  | 5.4 |
Total Assets |  | 26.8 |  |  | (5.6) |  |  | 21.2 |
Current Risk Management Liabilities |  | 5.3 |  |  | (4.2) |  |  | 1.1 |
Long-term Risk Management Liabilities |  | 1.0 |  |  | (1.0) |  |  | — |
Total Liabilities |  | 6.3 |  |  | (5.2) |  |  | 1.1 |
Total MTM Derivative Contract Net Assets (Liabilities) |  | $ | 20.5 |  |  | $ | (0.4) |  |  | $ | 20.1 |
|  | December 31, 2022
|  | Risk Management |  | Gross Amounts Offset |  | Net Amounts of Assets/Liabilities
|  | Contracts – |  | in the Statement of |  | Presented in the Statement of
Balance Sheet Location |  | Commodity (a) |  | Financial Position (b) |  | Financial Position (c)
|  | (in millions)
Current Risk Management Assets |  | $ | 16.0 |  |  | $ | (0.8) |  |  | $ | 15.2 |
Long-term Risk Management Assets |  | 0.5 |  |  | (0.3) |  |  | 0.2 |
Total Assets |  | 16.5 |  |  | (1.1) |  |  | 15.4 |
Current Risk Management Liabilities |  | 0.9 |  |  | (0.9) |  |  | — |
Long-term Risk Management Liabilities |  | 0.3 |  |  | (0.3) |  |  | — |
Total Liabilities |  | 1.2 |  |  | (1.2) |  |  | — |
Total MTM Derivative Contract Net Assets |  | $ | 15.3 |  |  | $ | 0.1 |  |  | $ | 15.4 |
OPCo
|  | September 30, 2023
|  | Risk Management |  | Gross Amounts Offset |  | Net Amounts of Assets/Liabilities
|  | Contracts – |  | in the Statement of |  | Presented in the Statement of
Balance Sheet Location |  | Commodity (a) |  | Financial Position (b) |  | Financial Position (c)
|  | (in millions)
Current Risk Management Assets |  | $ | 0.3 |  |  | $ | — |  |  | $ | 0.3 |
Long-term Risk Management Assets |  | — |  |  | — |  |  | — |
Total Assets |  | 0.3 |  |  | — |  |  | 0.3 |
Current Risk Management Liabilities |  | 5.7 |  |  | — |  |  | 5.7 |
Long-term Risk Management Liabilities |  | 45.9 |  |  | — |  |  | 45.9 |
Total Liabilities |  | 51.6 |  |  | — |  |  | 51.6 |
Total MTM Derivative Contract Net Liabilities |  | $ | (51.3) |  |  | $ | — |  |  | $ | (51.3) |
|  | December 31, 2022
|  | Risk Management |  | Gross Amounts Offset |  | Net Amounts of Assets/Liabilities
|  | Contracts – |  | in the Statement of |  | Presented in the Statement of
Balance Sheet Location |  | Commodity (a) |  | Financial Position (b) |  | Financial Position (c)
|  | (in millions)
Current Risk Management Assets |  | $ | — |  |  | $ | — |  |  | $ | — |
Long-term Risk Management Assets |  | — |  |  | — |  |  | — |
Total Assets |  | — |  |  | — |  |  | — |
Current Risk Management Liabilities |  | 2.1 |  |  | (0.3) |  |  | 1.8 |
Long-term Risk Management Liabilities |  | 37.9 |  |  | — |  |  | 37.9 |
Total Liabilities |  | 40.0 |  |  | (0.3) |  |  | 39.7 |
Total MTM Derivative Contract Net Assets (Liabilities) |  | $ | (40.0) |  |  | $ | 0.3 |  |  | $ | (39.7) |
PSO
|  | September 30, 2023
|  | Risk Management |  |  |  |  |  | Gross Amounts Offset |  | Net Amounts of Assets/Liabilities
|  | Contracts – |  |  |  | in the Statement of |  | Presented in the Statement of
Balance Sheet Location |  | Commodity (a) |  |  |  |  | Financial Position (b) |  | Financial Position (c)
|  | (in millions)
Current Risk Management Assets |  | $ | 28.3 |  |  |  |  |  |  | $ | (0.1) |  |  | $ | 28.2 |
Long-term Risk Management Assets |  | 0.3 |  |  |  |  |  |  | (0.3) |  |  | — |
Total Assets |  | 28.6 |  |  |  |  |  |  | (0.4) |  |  | 28.2 |
Current Risk Management Liabilities |  | 7.2 |  |  |  |  |  |  | (0.1) |  |  | 7.1 |
Long-term Risk Management Liabilities |  | 0.4 |  |  |  |  |  |  | (0.3) |  |  | 0.1 |
Total Liabilities |  | 7.6 |  |  |  |  |  |  | (0.4) |  |  | 7.2 |
Total MTM Derivative Contract Net Assets |  | $ | 21.0 |  |  |  |  |  |  | $ | — |  |  | $ | 21.0 |
|  | December 31, 2022
|  | Risk Management Contracts – |  | Hedging Contracts |  | Gross Amounts of Risk Management Assets/Liabilities Recognized |  | Gross Amounts Offset in the Statement of Financial Position (b) |  | Net Amounts of Assets/Liabilities Presented in the Statement of Financial Position (c)
Balance Sheet Location |  | Commodity (a) |  | Interest Rate (a) |  |  |
|  | (in millions)
Current Risk Management Assets |  | $ | 24.1 |  |  | $ | 1.6 |  |  | $ | 25.7 |  |  | $ | (0.4) |  |  | $ | 25.3 |
Long-term Risk Management Assets |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total Assets |  | 24.1 |  |  | 1.6 |  |  | 25.7 |  |  | (0.4) |  |  | 25.3 |
Current Risk Management Liabilities |  | 2.1 |  |  | — |  |  | 2.1 |  |  | (0.5) |  |  | 1.6 |
Long-term Risk Management Liabilities |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total Liabilities |  | 2.1 |  |  | — |  |  | 2.1 |  |  | (0.5) |  |  | 1.6 |
Total MTM Derivative Contract Net Assets |  | $ | 22.0 |  |  | $ | 1.6 |  |  | $ | 23.6 |  |  | $ | 0.1 |  |  | $ | 23.7 |
SWEPCo
|  | September 30, 2023
|  | Risk Management |  | Gross Amounts Offset |  | Net Amounts of Assets/Liabilities
|  | Contracts – |  | in the Statement of |  | Presented in the Statement of
Balance Sheet Location |  | Commodity (a) |  | Financial Position (b) |  | Financial Position (c)
|  | (in millions)
Current Risk Management Assets |  | $ | 17.6 |  |  | $ | (0.5) |  |  | $ | 17.1 |
Long-term Risk Management Assets |  | — |  |  | — |  |  | — |
Total Assets |  | 17.6 |  |  | (0.5) |  |  | 17.1 |
Current Risk Management Liabilities |  | 3.6 |  |  | (0.5) |  |  | 3.1 |
Long-term Risk Management Liabilities |  | 0.4 |  |  | — |  |  | 0.4 |
Total Liabilities |  | 4.0 |  |  | (0.5) |  |  | 3.5 |
Total MTM Derivative Contract Net Assets |  | $ | 13.6 |  |  | $ | — |  |  | $ | 13.6 |
|  | December 31, 2022
|  | Risk Management |  | Gross Amounts Offset |  | Net Amounts of Assets/Liabilities
|  | Contracts – |  | in the Statement of |  | Presented in the Statement of
Balance Sheet Location |  | Commodity (a) |  | Financial Position (b) |  | Financial Position (c)
|  | (in millions)
Current Risk Management Assets |  | $ | 16.8 |  |  | $ | (0.4) |  |  | $ | 16.4 |
Long-term Risk Management Assets |  | — |  |  | — |  |  | — |
Total Assets |  | 16.8 |  |  | (0.4) |  |  | 16.4 |
Current Risk Management Liabilities |  | 2.0 |  |  | (0.6) |  |  | 1.4 |
Long-term Risk Management Liabilities |  | — |  |  | — |  |  | — |
Total Liabilities |  | 2.0 |  |  | (0.6) |  |  | 1.4 |
Total MTM Derivative Contract Net Assets |  | $ | 14.8 |  |  | $ | 0.2 |  |  | $ | 15.0 |
(a)Derivative instruments within these categories are disclosed as gross. These instruments are subject to master netting agreements and are presented on the balance sheets on a net basis in accordance with the accounting guidance for “Derivatives and Hedging.” (b)Amounts include counterparty netting of risk management and hedging contracts and associated cash collateral in accordance with the accounting guidance for “Derivatives and Hedging.” (c)All derivative contracts subject to a master netting arrangement or similar agreement are offset in the statement of financial position.
Amount of Gain (Loss) Recognized on Risk Management Contracts | Amount of Gain (Loss) Recognized on Risk Management Contracts
|  | Three Months Ended September 30, 2023
Location of Gain (Loss) |  | AEP |  | AEP Texas |  | APCo |  | I&M |  | OPCo |  | PSO |  | SWEPCo
|  | (in millions)
Vertically Integrated Utilities Revenues |  | $ | (9.5) |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Generation & Marketing Revenues |  | (1.4) |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Electric Generation, Transmission and Distribution Revenues |  | — |  |  | — |  |  | 0.1 |  |  | (9.6) |  |  | — |  |  | — |  |  | — |
Purchased Electricity, Fuel and Other Consumables Used for Electric Generation |  | 0.2 |  |  | — |  |  | 0.2 |  |  | — |  |  | — |  |  | — |  |  | — |
Maintenance |  | (0.4) |  |  | (0.1) |  |  | (0.1) |  |  | — |  |  | (0.1) |  |  | (0.1) |  |  | (0.1) |
Regulatory Assets (a) |  | 1.2 |  |  | 0.5 |  |  | 1.2 |  |  | 1.7 |  |  | 0.5 |  |  | (3.5) |  |  | (1.1) |
Regulatory Liabilities (a) |  | 43.0 |  |  | 0.4 |  |  | 11.9 |  |  | 1.6 |  |  | — |  |  | 12.9 |  |  | 12.7 |
Total Gain (Loss) on Risk Management Contracts |  | $ | 33.1 |  |  | $ | 0.8 |  |  | $ | 13.3 |  |  | $ | (6.3) |  |  | $ | 0.4 |  |  | $ | 9.3 |  |  | $ | 11.5 |
|  | Three Months Ended September 30, 2022
Location of Gain (Loss) |  | AEP |  | AEP Texas |  | APCo |  | I&M |  | OPCo |  | PSO |  | SWEPCo
|  | (in millions)
Vertically Integrated Utilities Revenues |  | $ | 2.1 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Generation & Marketing Revenues |  | 116.7 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Electric Generation, Transmission and Distribution Revenues |  | — |  |  | — |  |  | 0.3 |  |  | — |  |  | — |  |  | — |  |  | — |
Other Revenues - Nonaffiliated |  | — |  |  | — |  | ` | — |  |  | 1.9 |  |  | — |  |  | — |  |  | — |
Purchased Electricity, Fuel and Other Consumables Used for Electric Generation |  | 0.9 |  |  | — |  |  | 0.9 |  |  | 0.1 |  |  | — |  |  | — |  |  | — |
Other Operation |  | 1.4 |  |  | 0.4 |  |  | 0.1 |  |  | 0.1 |  |  | 0.2 |  |  | 0.2 |  |  | 0.2 |
Maintenance |  | 2.0 |  |  | 0.5 |  |  | 0.2 |  |  | 0.2 |  |  | 0.4 |  |  | 0.2 |  |  | 0.3 |
Regulatory Assets (a) |  | 4.3 |  |  | — |  |  | — |  |  | 0.1 |  |  | 4.1 |  |  | — |  |  | 0.1 |
Regulatory Liabilities (a) |  | 103.2 |  |  | (1.5) |  |  | 59.7 |  |  | 3.8 |  |  | 0.9 |  |  | 19.7 |  |  | 7.0 |
Total Gain (Loss) on Risk Management Contracts |  | $ | 230.6 |  |  | $ | (0.6) |  |  | $ | 61.2 |  |  | $ | 6.2 |  |  | $ | 5.6 |  |  | $ | 20.1 |  |  | $ | 7.6 |
|  | Nine Months Ended September 30, 2023
Location of Gain (Loss) |  | AEP |  | AEP Texas |  | APCo |  | I&M |  | OPCo |  | PSO |  | SWEPCo
|  | (in millions)
Vertically Integrated Utilities Revenues |  | $ | 2.2 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Generation & Marketing Revenues |  | (290.6) |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Electric Generation, Transmission and Distribution Revenues |  | — |  |  | — |  |  | 0.1 |  |  | 2.1 |  |  | — |  |  | — |  |  | — |
Purchased Electricity, Fuel and Other Consumables Used for Electric Generation |  | 2.2 |  |  | — |  |  | 2.1 |  |  | 0.1 |  |  | — |  |  | — |  |  | — |
Other Operation |  | (0.1) |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Maintenance |  | (0.6) |  |  | (0.2) |  |  | (0.1) |  |  | — |  |  | (0.1) |  |  | (0.1) |  |  | (0.1) |
Regulatory Assets (a) |  | (36.0) |  |  | — |  |  | — |  |  | (0.4) |  |  | (24.6) |  |  | (7.0) |  |  | (3.5) |
Regulatory Liabilities (a) |  | 143.5 |  |  | 0.4 |  |  | 3.1 |  |  | 6.4 |  |  | — |  |  | 73.3 |  |  | 58.2 |
Total Gain (Loss) on Risk Management Contracts |  | $ | (179.4) |  |  | $ | 0.2 |  |  | $ | 5.2 |  |  | $ | 8.2 |  |  | $ | (24.7) |  |  | $ | 66.2 |  |  | $ | 54.6 |
|  | Nine Months Ended September 30, 2022
Location of Gain (Loss) |  | AEP |  | AEP Texas |  | APCo |  | I&M |  | OPCo |  | PSO |  | SWEPCo
|  | (in millions)
Vertically Integrated Utilities Revenues |  | $ | 2.2 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Generation & Marketing Revenues |  | 390.0 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Electric Generation, Transmission and Distribution Revenues |  | — |  |  | — |  |  | 0.4 |  |  | (0.1) |  |  | — |  |  | — |  |  | — |
Other Revenues - Nonaffiliated |  | — |  |  | — |  |  | — |  |  | 1.9 |  |  | — |  |  | — |  |  | — |
Purchased Electricity, Fuel and Other Consumables Used for Electric Generation |  | 3.3 |  |  | — |  |  | 3.0 |  |  | 0.1 |  |  | — |  |  | 0.1 |  |  | — |
Other Operation |  | 3.7 |  |  | 1.1 |  |  | 0.3 |  |  | 0.4 |  |  | 0.6 |  |  | 0.5 |  |  | 0.6 |
Maintenance |  | 5.2 |  |  | 1.4 |  |  | 0.7 |  |  | 0.5 |  |  | 0.9 |  |  | 0.6 |  |  | 0.8 |
Regulatory Assets (a) |  | 49.3 |  |  | 0.1 |  |  | — |  |  | (1.2) |  |  | 49.0 |  |  | 3.6 |  |  | (2.1) |
Regulatory Liabilities (a) |  | 250.1 |  |  | (0.6) |  |  | 79.9 |  |  | 7.0 |  |  | 2.5 |  |  | 71.4 |  |  | 64.8 |
Total Gain on Risk Management Contracts |  | $ | 703.8 |  |  | $ | 2.0 |  |  | $ | 84.3 |  |  | $ | 8.6 |  |  | $ | 53.0 |  |  | $ | 76.2 |  |  | $ | 64.1 |
(a)Represents realized and unrealized gains and losses subject to regulatory accounting treatment recorded as either current or noncurrent on the balance sheets.
Impact of Fair Value Hedges on the Condensed Balance Sheet |
|  | Carrying Amount of the Hedged Liabilities |  | Cumulative Amount of Fair Value Hedging Adjustment Included in the Carrying Amount of the Hedged Liabilities
|  | September 30, 2023 |  | December 31, 2022 |  | September 30, 2023 |  | December 31, 2022
|  | (in millions)
Long-term Debt (a) (b) |  | $ | (840.1) |  |  | $ | (855.5) |  |  | $ | 106.1 |  |  | $ | 89.7 |
(a)Amounts included on the Balance Sheet within Noncurrent Liabilities line item Long-term Debt. (b)Amounts include $(32) million and $(38) million as of September 30, 2023 and December 31, 2022, respectively, for the fair value hedge adjustment of hedged debt obligations for which hedge accounting has been discontinued.
Gain (Loss) on Hedging Instruments |
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2023 |  | 2022 |  | 2023 |  | 2022
| (in millions)
Gain (Loss) on Interest Rate Contracts: |  |  |  |  |  |  |
Fair Value Hedging Instruments (a) | $ | (13.4) |  |  | $ | (36.0) |  |  | $ | (10.7) |  |  | $ | (98.4) |
Fair Value Portion of Long-term Debt (a) | 13.4 |  |  | 36.0 |  |  | 10.7 |  |  | 98.4 |
(a)Gain (Loss) is included in Interest Expense on the statements of income.
Impact of Cash Flow Hedges on the Condensed Balance Sheet | Impact of Cash Flow Hedges on AEP’s Balance Sheets
|  | September 30, 2023 |  | December 31, 2022
|  | Commodity |  | Interest Rate |  | Commodity |  | Interest Rate
|  | (in millions)
AOCI Gain Net of Tax |  | $ | 100.6 |  |  | $ | 4.7 |  |  | $ | 223.5 |  |  | $ | 0.3 |
Portion Expected to be Reclassed to Net Income During the Next Twelve Months |  | 36.1 |  |  | 4.3 |  |  | 119.9 |  |  | 0.3 |
Impact of Cash Flow Hedges on the Registrant Subsidiaries’ Balance Sheets
|  | September 30, 2023 |  | December 31, 2022
|  | Interest Rate
|  |  |  | Expected to be |  |  |  | Expected to be
|  |  |  | Reclassified to |  |  |  | Reclassified to
|  |  |  | Net Income During |  |  |  | Net Income During
|  | AOCI Gain (Loss) |  | the Next |  | AOCI Gain (Loss) |  | the Next
Company |  | Net of Tax |  | Twelve Months |  | Net of Tax |  | Twelve Months
|  | (in millions)
AEP Texas |  | $ | 2.8 |  |  | $ | 0.3 |  |  | $ | (0.3) |  |  | $ | (0.2) |
APCo |  | 6.1 |  |  | 0.8 |  |  | 6.7 |  |  | 0.8 |
I&M |  | (5.6) |  |  | (0.4) |  |  | (5.1) |  |  | (0.6) |
PSO |  | (0.2) |  |  | — |  |  | 1.3 |  |  | 0.1 |
SWEPCo |  | 1.4 |  |  | 0.3 |  |  | 1.1 |  |  | 0.2 |

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