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v3.23.1

Business Segments (Tables) | 12 Months Ended
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Dec. 31, 2022
Reportable Segment Information |
| Vertically Integrated Utilities |  | Transmission and Distribution Utilities |  | AEP Transmission Holdco |  | Generation & Marketing |  | Corporate and Other (a) |  | Reconciling Adjustments |  | Consolidated
| (in millions)
| (as adjusted)
2022 |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues from: |  |  |  |  |  |  |  |  |  |  |  |  |
External Customers | $ | 11,292.8 |  |  | $ | 5,489.6 |  |  | $ | 357.5 |  |  | $ | 2,448.9 |  |  | $ | 50.7 |  |  | $ | — |  |  | $ | 19,639.5 |
Other Operating Segments | 184.7 |  |  | 22.4 |  |  | 1,319.5 |  |  | 18.0 |  |  | 59.2 |  |  | (1,603.8) |  |  | — |
Total Revenues | $ | 11,477.5 |  |  | $ | 5,512.0 |  |  | $ | 1,677.0 |  |  | $ | 2,466.9 |  |  | $ | 109.9 |  |  | $ | (1,603.8) |  |  | $ | 19,639.5 |
Loss on the Expected Sale of the Kentucky Operations | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 363.3 |  |  | $ | — |  |  | $ | 363.3 |
Asset Impairments and Other Related Charges | 24.9 |  |  | — |  |  | — |  |  | — |  |  | 23.9 |  |  | — |  |  | 48.8 |
Establishment of 2017-2019 Virginia Triennial Review Regulatory Asset | (37.0) |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (37.0) |
Gain on Sale of Mineral Rights | — |  |  | — |  |  | — |  |  | (116.3) |  |  | — |  |  | — |  |  | (116.3) |
Depreciation and Amortization | 2,007.2 |  |  | 746.7 |  |  | 355.0 |  |  | 93.0 |  |  | 0.9 |  |  | — |  |  | 3,202.8 |
Interest Expense | 650.9 |  |  | 328.0 |  |  | 169.3 |  |  | 51.8 |  |  | 308.9 |  |  | (112.8) |  |  | 1,396.1 |
Income Tax Expense (Benefit) | (93.8) |  |  | 116.9 |  |  | 193.6 |  |  | (83.1) |  |  | (128.2) |  |  | — |  |  | 5.4 |
Equity Earnings (Loss) of Unconsolidated Subsidiaries | 1.4 |  |  | 0.6 |  |  | 83.4 |  |  | (192.4) |  |  | (2.4) |  |  | — |  |  | (109.4) |
Net Income (Loss) | $ | 1,296.2 |  |  | $ | 595.7 |  |  | $ | 676.8 |  |  | $ | 274.5 |  |  | $ | (537.6) |  |  | $ | — |  |  | $ | 2,305.6 |
Gross Property Additions | $ | 4,164.6 |  |  | $ | 2,177.3 |  |  | $ | 1,470.8 |  |  | $ | 69.2 |  |  | $ | 25.9 |  |  | $ | (28.8) |  |  | $ | 7,879.0 |
Total Assets | $ | 49,761.8 |  |  | $ | 22,920.2 |  |  | $ | 15,215.8 |  |  | $ | 4,520.1 |  |  | $ | 6,768.4 |  | (b) | $ | (5,783.0) |  | (c) | $ | 93,403.3 |
Investments in Equity Method Investees | $ | 10.1 |  |  | $ | 3.0 |  |  | $ | 858.3 |  |  | $ | 337.6 |  |  | $ | 67.7 |  |  | $ | — |  |  | $ | 1,276.7 |
| Vertically Integrated Utilities |  | Transmission and Distribution Utilities |  | AEP Transmission Holdco |  | Generation & Marketing |  | Corporate and Other (a) |  | Reconciling Adjustments |  | Consolidated
| (in millions)
2021 |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues from: |  |  |  |  |  |  |  |  |  |  |  |  |
External Customers | $ | 9,852.2 |  |  | $ | 4,464.1 |  |  | $ | 351.1 |  |  | $ | 2,108.3 |  |  | $ | 16.3 |  |  | $ | — |  |  | $ | 16,792.0 |
Other Operating Segments | 146.3 |  |  | 28.8 |  |  | 1,175.1 |  |  | 55.4 |  |  | 55.9 |  |  | (1,461.5) |  |  | — |
Total Revenues | $ | 9,998.5 |  |  | $ | 4,492.9 |  |  | $ | 1,526.2 |  |  | $ | 2,163.7 |  |  | $ | 72.2 |  |  | $ | (1,461.5) |  |  | $ | 16,792.0 |
Asset Impairments and Other Related Charges | $ | 11.6 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 11.6 |
Depreciation and Amortization | 1,747.6 |  |  | 690.3 |  |  | 306.0 |  |  | 80.9 |  |  | 0.9 |  |  | — |  |  | 2,825.7 |
Interest Expense | 574.2 |  |  | 300.9 |  |  | 146.3 |  |  | 15.6 |  |  | 180.8 |  |  | (18.7) |  |  | 1,199.1 |
Income Tax Expense (Benefit) | (11.2) |  |  | 77.5 |  |  | 159.6 |  |  | (48.8) |  |  | (61.6) |  |  | — |  |  | 115.5 |
Equity Earnings (Loss) of Unconsolidated Subsidiaries | 3.4 |  |  | — |  |  | 75.0 |  |  | (10.6) |  |  | 23.9 |  |  | — |  |  | 91.7 |
Net Income (Loss) | $ | 1,116.7 |  |  | $ | 543.4 |  |  | $ | 682.0 |  |  | $ | 210.2 |  |  | $ | (64.2) |  |  | $ | — |  |  | $ | 2,488.1 |
Gross Property Additions | $ | 2,963.1 |  |  | $ | 1,766.0 |  |  | $ | 1,468.6 |  |  | $ | 232.8 |  |  | $ | 25.5 |  |  | $ | (29.2) |  |  | $ | 6,426.8 |
Total Assets | $ | 46,974.2 |  |  | $ | 21,120.2 |  |  | $ | 13,873.3 |  |  | $ | 4,263.6 |  |  | $ | 5,846.5 |  | (b) | $ | (4,409.1) |  | (c) | $ | 87,668.7 |
Investments in Equity Method Investees | $ | 33.5 |  |  | $ | 2.5 |  |  | $ | 830.4 |  |  | $ | 487.8 |  |  | $ | 93.3 |  |  | $ | — |  |  | $ | 1,447.5 |
| Vertically Integrated Utilities |  | Transmission and Distribution Utilities |  | AEP Transmission Holdco |  | Generation & Marketing |  | Corporate and Other (a) |  | Reconciling Adjustments |  | Consolidated
| (in millions)
2020 |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues from: |  |  |  |  |  |  |  |  |  |  |  |  |
External Customers | $ | 8,753.2 |  |  | $ | 4,238.7 |  |  | $ | 297.4 |  |  | $ | 1,621.0 |  |  | $ | 8.2 |  |  | $ | — |  |  | $ | 14,918.5 |
Other Operating Segments | 126.2 |  |  | 107.2 |  |  | 901.4 |  |  | 104.6 |  |  | 88.6 |  |  | (1,328.0) |  |  | — |
Total Revenues | $ | 8,879.4 |  |  | $ | 4,345.9 |  |  | $ | 1,198.8 |  |  | $ | 1,725.6 |  |  | $ | 96.8 |  |  | $ | (1,328.0) |  |  | $ | 14,918.5 |
Depreciation and Amortization | $ | 1,600.5 |  |  | $ | 751.1 |  |  | $ | 257.6 |  |  | $ | 72.8 |  |  | $ | 0.8 |  |  | $ | — |  |  | $ | 2,682.8 |
Interest Expense | 565.0 |  |  | 289.2 |  |  | 133.2 |  |  | 24.0 |  |  | 196.4 |  |  | (42.1) |  |  | 1,165.7 |
Income Tax Expense (Benefit) | (7.0) |  |  | 29.7 |  |  | 130.8 |  |  | (108.0) |  |  | (5.0) |  |  | — |  |  | 40.5 |
Equity Earnings of Unconsolidated Subsidiaries | 2.9 |  |  | — |  |  | 82.4 |  |  | 3.2 |  |  | 2.6 |  |  | — |  |  | 91.1 |
Net Income (Loss) | $ | 1,064.5 |  |  | $ | 496.4 |  |  | $ | 508.5 |  |  | $ | 216.9 |  |  | $ | (89.6) |  |  | $ | — |  |  | $ | 2,196.7 |
Gross Property Additions | $ | 2,291.2 |  |  | $ | 2,108.1 |  |  | $ | 1,649.3 |  |  | $ | 197.0 |  |  | $ | 16.0 |  |  | $ | (15.3) |  |  | $ | 6,246.3 |
Investments in Equity Method Investees | $ | 37.1 |  |  | $ | 2.1 |  |  | $ | 831.3 |  |  | $ | 467.0 |  |  | $ | 68.8 |  |  | $ | — |  |  | $ | 1,406.3 |
(a)Corporate and Other primarily includes the purchasing of receivables from certain AEP utility subsidiaries. This segment also includes Parent’s guarantee revenue received from affiliates, investment income, interest income, interest expense and other nonallocated costs. (b)Includes elimination of AEP Parent’s investments in wholly-owned subsidiary companies. (c)Reconciling Adjustments for Total Assets primarily include elimination of intercompany advances to affiliates and intercompany accounts receivable.
| State Transcos |  | AEPTCo Parent |  | Reconciling Adjustments |  | AEPTCo Consolidated
2022 | (in millions)
Revenues from: |  |  |  |  |  |  |
External Customers | $ | 340.9 |  |  | $ | — |  |  | $ | — |  |  | $ | 340.9 |
Sales to AEP Affiliates | 1,283.8 |  |  | — |  |  | — |  |  | 1,283.8 |
Other Revenues | (0.2) |  |  | — |  |  | — |  |  | (0.2) |
Total Revenues | $ | 1,624.5 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,624.5 |
Depreciation and Amortization | $ | 346.2 |  |  | $ | — |  |  | $ | — |  |  | $ | 346.2 |
Interest Income | 0.7 |  |  | 177.8 |  |  | (176.9) |  | (a) | 1.6 |
Allowance for Equity Funds Used During Construction | 70.7 |  |  | — |  |  | — |  |  | 70.7 |
Interest Expense | 162.5 |  |  | 177.1 |  |  | (176.9) |  | (a) | 162.7 |
Income Tax Expense | 169.1 |  |  | — |  |  | — |  |  | 169.1 |
Net Income | $ | 594.2 |  |  | $ | — |  | (b) | $ | — |  |  | $ | 594.2 |
Gross Property Additions | $ | 1,468.3 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,468.3 |
Total Assets | $ | 13,875.6 |  |  | $ | 4,817.4 |  | (c) | $ | (4,878.8) |  | (d) | $ | 13,814.2 |
| State Transcos |  | AEPTCo Parent |  | Reconciling Adjustments |  | AEPTCo Consolidated
2021 | (in millions)
Revenues from: |  |  |  |  |  |  |
External Customers | $ | 315.1 |  |  | $ | — |  |  | $ | — |  |  | $ | 315.1 |
Sales to AEP Affiliates | 1,153.9 |  |  | — |  |  | — |  |  | 1,153.9 |
Other Revenues | 0.3 |  |  | — |  |  | — |  |  | 0.3 |
Total Revenues | $ | 1,469.3 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,469.3 |
Depreciation and Amortization | $ | 297.3 |  |  | $ | — |  |  | $ | — |  |  | $ | 297.3 |
Interest Income | 0.1 |  |  | 158.1 |  |  | (157.7) |  | (a) | 0.5 |
Allowance for Equity Funds Used During Construction | 67.2 |  |  | — |  |  | — |  |  | 67.2 |
Interest Expense | 141.2 |  |  | 157.7 |  |  | (157.7) |  | (a) | 141.2 |
Income Tax Expense | 144.1 |  |  | — |  |  | — |  |  | 144.1 |
Net Income | $ | 591.5 |  |  | $ | 0.2 |  | (b) | $ | — |  |  | $ | 591.7 |
Gross Property Additions | $ | 1,442.7 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,442.7 |
Total Assets | $ | 12,564.3 |  |  | $ | 4,389.5 |  | (c) | $ | (4,429.4) |  | (d) | $ | 12,524.4 |
| State Transcos |  | AEPTCo Parent |  | Reconciling Adjustments |  | AEPTCo Consolidated
2020 | (in millions)
Revenues from: |  |  |  |  |  |  |
External Customers | $ | 248.8 |  |  | $ | — |  |  | $ | — |  |  | $ | 248.8 |
Sales to AEP Affiliates | 896.3 |  |  | — |  |  | — |  |  | 896.3 |
Other Revenue | 0.6 |  |  | — |  |  | — |  |  | 0.6 |
Total Revenues | $ | 1,145.7 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,145.7 |
Depreciation and Amortization | $ | 249.0 |  |  | $ | — |  |  | $ | — |  |  | $ | 249.0 |
Interest Income | 0.9 |  |  | 149.6 |  |  | (148.1) |  | (a) | 2.4 |
Allowance for Equity Funds Used During Construction | 74.0 |  |  | — |  |  | — |  |  | 74.0 |
Interest Expense | 127.8 |  |  | 148.1 |  |  | (148.1) |  | (a) | 127.8 |
Income Tax Expense | 106.5 |  |  | 0.2 |  |  | — |  |  | 106.7 |
Net Income | $ | 422.3 |  |  | $ | 1.1 |  | (b) | $ | — |  |  | $ | 423.4 |
Gross Property Additions | $ | 1,621.9 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,621.9 |
(a) Elimination of intercompany interest income/interest expense on affiliated debt arrangement. (b) Includes elimination of AEPTCo Parent’s equity earnings in the State Transcos. (c) Primarily relates to Notes Receivable from the State Transcos. (d) Primarily relates to elimination of Notes Receivable from the State Transcos.

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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8813-108599 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8906-108599 + Details
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