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Property, Plant and Equipment | 12 Months Ended
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Dec. 31, 2023
Property, Plant and Equipment | PROPERTY, PLANT AND EQUIPMENT The disclosures in this note apply to all Registrants unless indicated otherwise. Property, Plant and Equipment is shown functionally on the face of the balance sheets. The following tables include the total plant balances as of December 31, 2023 and 2022:
December 31, 2023 |  | AEP |  | AEP Texas |  | AEPTCo |  | APCo |  | I&M |  | OPCo |  | PSO |  | SWEPCo |
|  | (in millions) |
Regulated Property, Plant and Equipment |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Generation |  | $ | 23,862.7 |  | (a) | $ | — |  |  | $ | — |  |  | $ | 7,041.3 |  |  | $ | 5,588.7 |  |  | $ | — |  |  | $ | 2,695.5 |  |  | $ | 4,790.7 |  | (a)
Transmission |  | 35,903.6 |  |  | 6,812.6 |  |  | 13,723.9 |  |  | 4,711.8 |  |  | 1,906.4 |  |  | 3,395.1 |  |  | 1,228.3 |  |  | 2,660.6 |  |
Distribution |  | 28,989.9 |  |  | 5,798.8 |  |  | — |  |  | 5,176.6 |  |  | 3,254.0 |  |  | 6,839.4 |  |  | 3,450.8 |  |  | 2,824.1 |  |
Other |  | 5,986.1 |  |  | 1,142.9 |  |  | 501.2 |  |  | 943.7 |  |  | 856.8 |  |  | 1,114.4 |  |  | 502.7 |  |  | 544.1 |  |
CWIP |  | 5,480.6 |  | (a) | 904.6 |  |  | 1,563.7 |  |  | 709.2 |  |  | 294.1 |  |  | 654.0 |  |  | 313.7 |  |  | 555.8 |  | (a)
Less: Accumulated Depreciation |  | 24,093.8 |  |  | 1,886.7 |  |  | 1,291.4 |  |  | 5,684.0 |  |  | 4,353.7 |  |  | 2,712.7 |  |  | 2,083.6 |  |  | 2,840.8 |  |
Total Regulated Property, Plant and Equipment - Net |  | 76,129.1 |  |  | 12,772.2 |  |  | 14,497.4 |  |  | 12,898.6 |  |  | 7,546.3 |  |  | 9,290.2 |  |  | 6,107.4 |  |  | 8,534.5 |  |
Nonregulated Property, Plant and Equipment - Net |  | 564.3 |  |  | 1.8 |  |  | 0.3 |  |  | 32.9 |  |  | 82.7 |  |  | 9.7 |  |  | 4.9 |  |  | 23.9 |  |
Total Property, Plant and Equipment - Net |  | $ | 76,693.4 |  |  | $ | 12,774.0 |  |  | $ | 14,497.7 |  |  | $ | 12,931.5 |  |  | $ | 7,629.0 |  |  | $ | 9,299.9 |  |  | $ | 6,112.3 |  |  | $ | 8,558.4 |  |
December 31, 2022 |  | AEP |  | AEP Texas |  | AEPTCo |  | APCo |  | I&M |  | OPCo |  | PSO |  | SWEPCo |
|  | (in millions) |
Regulated Property, Plant and Equipment |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Generation |  | $ | 23,759.7 |  | (a) | $ | — |  |  | $ | — |  |  | $ | 6,776.8 |  |  | $ | 5,534.6 |  |  | $ | — |  |  | $ | 2,394.8 |  |  | $ | 5,476.2 |  | (a)
Transmission |  | 33,221.7 |  |  | 6,301.5 |  |  | 12,335.4 |  |  | 4,482.8 |  |  | 1,842.2 |  |  | 3,198.6 |  |  | 1,164.4 |  |  | 2,479.8 |  |
Distribution |  | 27,138.8 |  |  | 5,312.8 |  |  | — |  |  | 4,933.0 |  |  | 3,024.7 |  |  | 6,450.3 |  |  | 3,216.4 |  |  | 2,659.6 |  |
Other |  | 5,528.9 |  |  | 1,020.4 |  |  | 476.6 |  |  | 849.2 |  |  | 796.1 |  |  | 1,040.6 |  |  | 466.0 |  |  | 582.6 |  |
CWIP |  | 4,776.4 |  | (a) | 805.2 |  |  | 1,554.7 |  |  | 705.3 |  |  | 253.0 |  |  | 474.3 |  |  | 219.3 |  |  | 369.5 |  | (a)
Less: Accumulated Depreciation |  | 23,118.0 |  |  | 1,759.5 |  |  | 1,027.1 |  |  | 5,397.3 |  |  | 4,117.8 |  |  | 2,564.3 |  |  | 1,839.4 |  |  | 3,314.8 |  |
Total Regulated Property, Plant and Equipment - Net |  | 71,307.5 |  |  | 11,680.4 |  |  | 13,339.6 |  |  | 12,349.8 |  |  | 7,332.8 |  |  | 8,599.5 |  |  | 5,621.5 |  |  | 8,252.9 |  |
Nonregulated Property, Plant and Equipment - Net |  | 2,031.6 |  |  | 1.2 |  |  | 0.3 |  |  | 29.4 |  |  | 78.7 |  |  | 9.8 |  |  | 5.0 |  |  | 9.3 |  |
Total Property, Plant and Equipment - Net |  | $ | 73,339.1 |  |  | $ | 11,681.6 |  |  | $ | 13,339.9 |  |  | $ | 12,379.2 |  |  | $ | 7,411.5 |  |  | $ | 8,609.3 |  |  | $ | 5,626.5 |  |  | $ | 8,262.2 |  |
(a)AEP and SWEPCo’s regulated generation and regulated CWIP include amounts related to SWEPCo’s Arkansas jurisdictional share of the Turk Plant. Depreciation, Depletion and Amortization The Registrants provide for depreciation of Property, Plant and Equipment, excluding coal-mining properties, on a straight-line basis over the estimated useful lives of property, generally using composite rates by functional class. The following tables provide total regulated annual composite depreciation rates and depreciable lives for the Registrants:
AEP |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | 2023 |  | 2022 |  | 2021
Functional Class of Property |  | Annual Composite Depreciation Rate Ranges |  | Depreciable Life Ranges |  | Annual Composite Depreciation Rate Ranges |  | Depreciable Life Ranges |  | Annual Composite Depreciation Rate Ranges |  | Depreciable Life Ranges
|  |  |  |  |  | (in years) |  |  |  |  |  | (in years) |  |  |  |  |  | (in years)
Generation |  | 2.7% | - | 4.7% |  | 20 | - | 162 |  | 2.7% | - | 7.6% |  | 20 | - | 132 |  | 2.7% | - | 7.8% |  | 20 | - | 132
Transmission |  | 2.0% | - | 2.7% |  | 15 | - | 78 |  | 2.0% | - | 2.7% |  | 24 | - | 75 |  | 2.0% | - | 2.6% |  | 15 | - | 75
Distribution |  | 2.9% | - | 3.6% |  | 7 | - | 85 |  | 2.7% | - | 3.6% |  | 7 | - | 78 |  | 2.8% | - | 3.6% |  | 7 | - | 80
Other |  | 3.8% | - | 9.1% |  | 5 | - | 75 |  | 3.1% | - | 14.4% |  | 5 | - | 75 |  | 3.0% | - | 12.5% |  | 5 | - | 75
AEP Texas |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | 2023 |  | 2022 |  | 2021
Functional Class of Property |  | Annual Composite Depreciation Rate |  | Depreciable Life Ranges |  | Annual Composite Depreciation Rate |  | Depreciable Life Ranges |  | Annual Composite Depreciation Rate |  | Depreciable Life Ranges
|  |  |  | (in years) |  |  |  | (in years) |  |  |  | (in years)
Transmission |  | 2.2% |  | 50 | - | 75 |  | 2.2% |  | 50 | - | 75 |  | 2.2% |  | 50 | - | 75
Distribution |  | 2.9% |  | 7 | - | 70 |  | 2.9% |  | 7 | - | 70 |  | 2.9% |  | 7 | - | 70
Other |  | 6.0% |  | 5 | - | 50 |  | 6.2% |  | 5 | - | 50 |  | 5.8% |  | 5 | - | 50
AEPTCo |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | 2023 |  | 2022 |  | 2021
Functional Class of Property |  | Annual Composite Depreciation Rate |  | Depreciable Life Ranges |  | Annual Composite Depreciation Rate |  | Depreciable Life Ranges |  | Annual Composite Depreciation Rate |  | Depreciable Life Ranges
|  |  |  | (in years) |  |  |  | (in years) |  |  |  | (in years)
Transmission |  | 2.6% |  | 24 | - | 78 |  | 2.6% |  | 24 | - | 75 |  | 2.5% |  | 24 | - | 75
Other |  | 7.0% |  | 5 | - | 58 |  | 6.6% |  | 5 | - | 56 |  | 6.7% |  | 5 | - | 56
APCo |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | 2023 |  | 2022 |  | 2021
Functional Class of Property |  | Annual Composite Depreciation Rate |  | Depreciable Life Ranges |  | Annual Composite Depreciation Rate |  | Depreciable Life Ranges |  | Annual Composite Depreciation Rate |  | Depreciable Life Ranges
|  |  |  | (in years) |  |  |  | (in years) |  |  |  | (in years)
Generation |  | 3.3% |  | 35 | - | 162 |  | 3.6% |  | 35 | - | 118 |  | 3.6% |  | 35 | - | 118
Transmission |  | 2.3% |  | 15 | - | 78 |  | 2.2% |  | 24 | - | 75 |  | 2.1% |  | 15 | - | 75
Distribution |  | 3.6% |  | 12 | - | 60 |  | 3.6% |  | 12 | - | 57 |  | 3.5% |  | 12 | - | 57
Other |  | 7.4% |  | 5 | - | 55 |  | 7.3% |  | 5 | - | 55 |  | 8.5% |  | 5 | - | 55
I&M |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | 2023 |  | 2022 |  | 2021
Functional Class of Property |  | Annual Composite Depreciation Rate |  | Depreciable Life Ranges |  | Annual Composite Depreciation Rate |  | Depreciable Life Ranges |  | Annual Composite Depreciation Rate |  | Depreciable Life Ranges
|  |  |  | (in years) |  |  |  | (in years) |  |  |  | (in years)
Generation |  | 4.7% |  | 20 | - | 132 |  | 4.9% |  | 20 | - | 132 |  | 4.7% |  | 20 | - | 132
Transmission |  | 2.5% |  | 44 | - | 67 |  | 2.5% |  | 44 | - | 67 |  | 2.4% |  | 45 | - | 70
Distribution |  | 2.9% |  | 14 | - | 71 |  | 3.1% |  | 14 | - | 71 |  | 3.4% |  | 14 | - | 71
Other |  | 9.1% |  | 5 | - | 45 |  | 10.1% |  | 5 | - | 45 |  | 9.0% |  | 5 | - | 51
OPCo |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | 2023 |  | 2022 |  | 2021
Functional Class of Property |  | Annual Composite Depreciation Rate |  | Depreciable Life Ranges |  | Annual Composite Depreciation Rate |  | Depreciable Life Ranges |  | Annual Composite Depreciation Rate |  | Depreciable Life Ranges
|  |  |  | (in years) |  |  |  | (in years) |  |  |  | (in years)
Transmission |  | 2.3% |  | 39 | - | 60 |  | 2.3% |  | 39 | - | 60 |  | 2.3% |  | 39 | - | 60
Distribution |  | 3.1% |  | 11 | - | 70 |  | 2.7% |  | 11 | - | 70 |  | 2.9% |  | 11 | - | 70
Other |  | 6.4% |  | 5 | - | 50 |  | 6.1% |  | 5 | - | 50 |  | 6.1% |  | 5 | - | 50
PSO |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | 2023 |  | 2022 |  | 2021
Functional Class of Property |  | Annual Composite Depreciation Rate |  | Depreciable Life Ranges |  | Annual Composite Depreciation Rate |  | Depreciable Life Ranges |  | Annual Composite Depreciation Rate |  | Depreciable Life Ranges
|  |  |  | (in years) |  |  |  | (in years) |  |  |  | (in years)
Generation |  | 3.0% |  | 25 | - | 75 |  | 3.1% |  | 30 | - | 75 |  | 2.8% |  | 30 | - | 75
Transmission |  | 2.6% |  | 41 | - | 75 |  | 2.5% |  | 42 | - | 75 |  | 2.4% |  | 42 | - | 75
Distribution |  | 2.9% |  | 15 | - | 85 |  | 2.9% |  | 15 | - | 78 |  | 2.9% |  | 15 | - | 78
Other |  | 6.8% |  | 5 | - | 58 |  | 6.8% |  | 5 | - | 56 |  | 6.1% |  | 5 | - | 56
SWEPCo |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | 2023 |  | 2022 |  | 2021
Functional Class of Property |  | Annual Composite Depreciation Rate |  | Depreciable Life Ranges |  | Annual Composite Depreciation Rate |  | Depreciable Life Ranges |  | Annual Composite Depreciation Rate |  | Depreciable Life Ranges
|  |  |  | (in years) |  |  |  | (in years) |  |  |  | (in years)
Generation |  | 2.9% |  | 30 | - | 65 |  | 2.7% |  | 30 | - | 65 |  | 2.7% |  | 30 | - | 65
Transmission |  | 2.2% |  | 46 | - | 70 |  | 2.3% |  | 44 | - | 70 |  | 2.4% |  | 49 | - | 74
Distribution |  | 2.9% |  | 7 | - | 75 |  | 2.9% |  | 15 | - | 75 |  | 2.8% |  | 15 | - | 80
Other |  | 8.5% |  | 5 | - | 58 |  | 9.0% |  | 5 | - | 57 |  | 8.6% |  | 5 | - | 58
The following table includes the nonregulated annual composite depreciation rate ranges and nonregulated depreciable life ranges for AEP. The Registrants' depreciation rate ranges and depreciable life ranges are not meaningful for nonregulated property for 2023, 2022 and 2021.
|  | 2023 |  | 2022 |  | 2021 |
Functional Class of Property |  | Annual Composite Depreciation Rate Ranges |  | Depreciable Life Ranges |  | Annual Composite Depreciation Rate Ranges |  | Depreciable Life Ranges |  | Annual Composite Depreciation Rate Ranges |  | Depreciable Life Ranges |
|  |  |  |  |  | (in years) |  |  |  |  |  | (in years) |  |  |  |  |  | (in years) |
Generation |  | 4.8% | - | 6.7% |  | 10 | - | 61 |  | 3.8% | - | 8.7% |  | 3 | - | 61 |  | 3.8% | - | 10.4% |  | 10 | - | 59 |
Transmission |  | 2.5% |  | 62 |  | 2.8% |  | 10 | - | 62 |  | 2.6% |  | 30 | - | 40 |
Distribution |  | NA |  | NA |  | NA |  | NA |  | NA |  | NA |
Other |  | 10.6% |  | 5 | - | 35 | (a) | 25.2% |  | 5 | - | 35 | (a) | 16.5% |  | 5 | - | 35 | (a)
(a)In 2020, management announced plans to retire the Pirkey Plant in 2023 and the related depreciable lives have been adjusted accordingly. Pirkey Plant was retired in March 2023. See "Coal-Fired Generation Plants" of Note 5 for additional information. NA Not applicable. For regulated operations, the composite depreciation rate generally includes a component for non-ARO removal costs, which is credited to Accumulated Depreciation and Amortization on the balance sheets. Actual removal costs incurred are charged to Accumulated Depreciation and Amortization. Any excess of accrued non-ARO removal costs over actual removal costs incurred is reclassified from Accumulated Depreciation and Amortization and reflected as a regulatory liability. For nonregulated operations, non-ARO removal costs are expensed as incurred. Asset Retirement Obligations (Applies to all Registrants except AEPTCo) The Registrants recorded the following revisions to ARO estimates as of December 31, 2023 and 2022: •As of December 31, 2023 and 2022, I&M’s ARO liability for nuclear decommissioning of the Cook Plant was $2.11 billion and $2 billion, respectively. These liabilities are reflected in Asset Retirement Obligations on I&M’s balance sheets. As of December 31, 2023 and 2022, the fair value of I&M’s assets that are legally restricted for purposes of settling decommissioning liabilities totaled $3.51 billion and $3.01 billion, respectively. These assets are included in Spent Nuclear Fuel and Decommissioning Trusts on I&M’s balance sheets. •In September 2022, APCo recorded a $14 million revision due to an increase in estimated ash pond closure costs at the Amos Plant. •In March 2022, PSO and SWEPCo acquired respective undivided ownership interests in the entity that owned Traverse during its development and construction. Immediately following the acquisition, PSO and SWEPCo liquidated the entity and simultaneously distributed the Traverse assets in proportion to their undivided ownership interests. Traverse was placed in-service in March 2022. As a result, PSO and SWEPCo incurred additional ARO liabilities of $13 million and $15 million, respectively. See the “North Central Wind Energy Facilities” section of Note 7 for additional information. •In March 2022, SWEPCo recorded a $13 million revision due to an increase in estimated ash pond closure costs at the Pirkey Plant and the Welsh Plant. In June 2022, SWEPCo recorded a $16 million revision due to an increase in estimated reclamation costs at Sabine. In September 2022, SWEPCo recorded a $14 million revision due to an increase in estimated landfill closure costs at Pirkey Plant. In November 2022, SWEPCo recorded an additional $7 million revision related to an increase in estimated reclamation costs at Sabine. •In August 2023, AEP completed the sale of its competitive contracted renewables portfolio to a nonaffiliated party and settled ARO liabilities of $31 million. See “Disposition of the Competitive Contracted Renewables Portfolio” section of Note 7 for additional information. •In December 2023, SWEPCo recorded a $32 million revision related to an increase in estimated reclamation costs at Sabine. Additionally in 2023, SWEPCo settled $50 million of costs related to closure/reclamation work performed due to the recent retirements of the Pirkey Plant and Dolet Hills Power Station. See “Coal-Fired Generation Plants” section of Note 5 for additional information. •In 2023, APCo recorded revisions of $27 million primarily due to an increase in estimated asbestos costs at several plants. The following is a reconciliation of the 2023 and 2022 aggregate carrying amounts of ARO by Registrant:
Company |  | ARO as of December 31, 2022 |  | Accretion Expense |  | Liabilities Incurred |  | Liabilities Settled |  | Revisions in Cash Flow Estimates (a) |  | ARO as of December 31, 2023
|  | (in millions)
AEP(b)(c)(d)(e)(f)(g) |  | $ | 2,943.6 |  |  | $ | 116.3 |  |  | $ | 38.9 |  |  | $ | (130.6) |  |  | $ | 63.0 |  |  | $ | 3,031.2 |
AEP Texas (b)(e) |  | 4.5 |  |  | 0.2 |  |  | — |  |  | (0.3) |  |  | 0.1 |  |  | 4.5 |
APCo (b)(e) |  | 427.7 |  |  | 16.8 |  |  | 16.1 |  |  | (23.1) |  |  | 26.5 |  |  | 464.0 |
I&M (b)(c)(e) |  | 2,028.1 |  |  | 74.8 |  |  | 4.8 |  |  | (3.7) |  |  | 2.0 |  |  | 2,106.0 |
OPCo (e) |  | 5.0 |  |  | 0.2 |  |  | — |  |  | (3.1) |  |  | — |  |  | 2.1 |
PSO (b)(e)(g) |  | 75.7 |  |  | 4.7 |  |  | 5.8 |  |  | (1.2) |  |  | (0.8) |  |  | 84.2 |
SWEPCo (b)(d)(e)(g) |  | 280.9 |  |  | 13.7 |  |  | 7.5 |  |  | (55.0) |  |  | 34.5 |  |  | 281.6 |
Company |  | ARO as of December 31, 2021 |  | Accretion Expense |  | Liabilities Incurred |  | Liabilities Settled |  | Revisions in Cash Flow Estimates (a) |  | ARO as of December 31, 2022
|  | (in millions)
AEP (b)(c)(d)(e)(f)(g) |  | $ | 2,741.7 |  |  | $ | 111.2 |  |  | $ | 37.4 |  |  | $ | (47.0) |  |  | $ | 100.3 |  |  | $ | 2,943.6 |
AEP Texas (b)(e) |  | 4.4 |  |  | 0.3 |  |  | — |  |  | (0.2) |  |  | — |  |  | 4.5 |
APCo (b)(e) |  | 404.6 |  |  | 15.8 |  |  | 3.0 |  |  | (12.7) |  |  | 17.0 |  |  | 427.7 |
I&M (b)(c)(e) |  | 1,946.3 |  |  | 71.5 |  |  | 3.2 |  |  | (0.6) |  |  | 7.7 |  |  | 2,028.1 |
OPCo (e) |  | 1.9 |  |  | 0.2 |  |  | 3.0 |  |  | (0.1) |  |  | — |  |  | 5.0 |
PSO (b)(e)(g) |  | 57.6 |  |  | 4.1 |  |  | 12.8 |  |  | (0.7) |  |  | 1.9 |  |  | 75.7 |
SWEPCo (b)(d)(e)(g) |  | 222.7 |  |  | 11.9 |  |  | 15.4 |  |  | (25.8) |  |  | 56.7 |  |  | 280.9 |
(a)Unless discussed above, primarily related to ash ponds, landfills and mine reclamation, generally due to changes in estimated closure area, volumes and/or unit costs. (b)Includes ARO related to ash disposal facilities. (c)Includes ARO related to nuclear decommissioning costs for the Cook Plant of $2.11 billion and $2 billion as of December 31, 2023 and 2022, respectively. (d)Includes ARO related to Sabine and DHLC. (e)Includes ARO related to asbestos removal. (f)Includes ARO related to solar farms. (g)Includes ARO related to wind farms. Allowance for Funds Used During Construction and Interest Capitalization The Registrants’ amounts of Allowance for Equity Funds Used During Construction are summarized in the following table:
|  | Years Ended December 31,
Company |  | 2023 |  | 2022 |  | 2021
|  | (in millions)
AEP |  | $ | 174.9 |  |  | $ | 133.7 |  |  | $ | 139.7 |
AEP Texas |  | 28.4 |  |  | 19.7 |  |  | 21.5 |
AEPTCo |  | 83.2 |  |  | 70.7 |  |  | 67.2 |
APCo |  | 11.9 |  |  | 11.7 |  |  | 15.6 |
I&M |  | 10.9 |  |  | 9.8 |  |  | 12.8 |
OPCo |  | 17.1 |  |  | 13.9 |  |  | 10.8 |
PSO |  | 8.4 |  |  | 1.5 |  |  | 2.4 |
SWEPCo |  | 11.5 |  |  | 4.9 |  |  | 7.0 |
The Registrants’ amounts of allowance for borrowed funds used during construction, including capitalized interest, are summarized in the following table:
|  | Years Ended December 31,
Company |  | 2023 |  | 2022 |  | 2021
|  | (in millions)
AEP |  | $ | 117.3 |  |  | $ | 63.0 |  |  | $ | 53.8 |
AEP Texas |  | 23.4 |  |  | 11.5 |  |  | 10.5 |
AEPTCo |  | 31.4 |  |  | 22.4 |  |  | 21.0 |
APCo |  | 14.1 |  |  | 6.5 |  |  | 7.5 |
I&M |  | 7.7 |  |  | 5.7 |  |  | 5.1 |
OPCo |  | 14.0 |  |  | 6.7 |  |  | 4.7 |
PSO |  | 5.2 |  |  | 2.7 |  |  | 0.7 |
SWEPCo |  | 9.8 |  |  | 4.3 |  |  | 3.0 |
Jointly-owned Electric Facilities (Applies to AEP, I&M, PSO and SWEPCo) The Registrants have electric facilities that are jointly-owned with affiliated and nonaffiliated companies. Using its own financing, each participating company is obligated to pay its share of the costs of these jointly-owned facilities in the same proportion as its ownership interest. Each Registrant’s proportionate share of the operating costs associated with these facilities is included in its statements of income and the investments and accumulated depreciation are reflected in its balance sheets under Property, Plant and Equipment as follows:
|  |  |  |  | Registrant’s Share as of December 31, 2023
| Fuel Type |  | Percent of Ownership |  | Utility Plant in Service |  | Construction Work in Progress |  | Accumulated Depreciation
|  |  |  |  | (in millions)
AEP |  |  |  |  |  |  |  |  |
Flint Creek Generating Station, Unit 1 (a) | Coal |  | 50.0 | % |  | $ | 402.8 |  |  | $ | 1.6 |  |  | $ | 167.5 |
Pirkey Plant, Unit 1 (a)(f) | Lignite |  | 85.9 | % |  | — |  |  | — |  |  | — |
Turk Generating Plant (a)(g) | Coal |  | 73.3 | % |  | 1,504.0 |  |  | 10.1 |  |  | 323.3 |
Total |  |  |  |  | $ | 1,906.8 |  |  | $ | 11.7 |  |  | $ | 490.8 |
I&M |  |  |  |  |  |  |  |  |
Rockport Generating Plant (b)(c) | Coal |  | 50.0 | % |  | $ | 1,341.4 |  |  | $ | 7.9 |  |  | $ | 1,018.9 |
PSO |  |  |  |  |  |  |  |  |
North Central Wind Energy Facilities (d)(e) | Wind |  | 45.5 | % |  | $ | 906.3 |  |  | $ | 2.4 |  |  | $ | 54.1 |
SWEPCo |  |  |  |  |  |  |  |  |
Flint Creek Generating Station, Unit 1 (a) | Coal |  | 50.0 | % |  | $ | 402.8 |  |  | $ | 1.6 |  |  | $ | 167.5 |
Pirkey Plant, Unit 1 (a)(f) | Lignite |  | 85.9 | % |  | — |  |  | — |  |  | — |
Turk Generating Plant (a)(g) | Coal |  | 73.3 | % |  | 1,504.0 |  |  | 10.1 |  |  | 323.3 |
North Central Wind Energy Facilities (d)(e) | Wind |  | 54.5 | % |  | 1,086.3 |  |  | 2.9 |  |  | 67.9 |
Total |  |  |  |  | $ | 2,993.1 |  |  | $ | 14.6 |  |  | $ | 558.7 |
|  |  |  |  | Registrant’s Share as of December 31, 2022
| Fuel Type |  | Percent of Ownership |  | Utility Plant in Service |  | Construction Work in Progress |  | Accumulated Depreciation
|  |  |  |  | (in millions)
AEP |  |  |  |  |  |  |  |  |
Flint Creek Generating Station, Unit 1 (a) | Coal |  | 50.0 | % |  | $ | 382.9 |  |  | $ | 16.4 |  |  | $ | 149.4 |
Pirkey Plant, Unit 1 (a) | Lignite |  | 85.9 | % |  | 632.0 |  |  | — |  |  | 632.0 |
Turk Generating Plant (a) | Coal |  | 73.3 | % |  | 1,611.1 |  |  | 5.1 |  |  | 314.7 |
Total |  |  |  |  | $ | 2,626.0 |  |  | $ | 21.5 |  |  | $ | 1,096.1 |
I&M |  |  |  |  |  |  |  |  |
Rockport Generating Plant (b)(c) | Coal |  | 50.0 | % |  | $ | 1,357.4 |  |  | $ | 9.2 |  |  | $ | 905.1 |
PSO |  |  |  |  |  |  |  |  |
North Central Wind Energy Facilities (d)(e) | Wind |  | 45.5 | % |  | $ | 889.3 |  |  | $ | 9.1 |  |  | $ | 28.1 |
SWEPCo |  |  |  |  |  |  |  |  |
Flint Creek Generating Station, Unit 1 (a) | Coal |  | 50.0 | % |  | $ | 382.9 |  |  | $ | 16.4 |  |  | $ | 149.4 |
Pirkey Plant, Unit 1 (a) | Lignite |  | 85.9 | % |  | 632.0 |  |  | — |  |  | 632.0 |
Turk Generating Plant (a) | Coal |  | 73.3 | % |  | 1,611.1 |  |  | 5.1 |  |  | 314.7 |
North Central Wind Energy Facilities (d)(e) | Wind |  | 54.5 | % |  | 1,066.8 |  |  | 10.1 |  |  | 35.2 |
Total |  |  |  |  | $ | 3,692.8 |  |  | $ | 31.6 |  |  | $ | 1,131.3 |
(a)Operated by SWEPCo. (b)Operated by I&M. (c)AEGCo owns 50%. (d)Operated by PSO. (e)PSO and SWEPCo own undivided interests of 45.5% and 54.5% of the NCWF, respectively. (f)Pirkey Plant was retired in March 2023. See "Coal-Fired Generation Plants" of Note 5 for additional information. (g)Includes impact of regulatory disallowance of AFUDC. See “2012 Texas Base Rate Case” section of Note 4 for additional information.

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