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v3.24.0.1

Organization and Summary of Significant Accounting Policies (Tables) | 12 Months Ended
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Dec. 31, 2023
Reconciliation of Cash, Cash Equivalents and Restricted Cash |
|  | December 31, 2023
|  | AEP |  | AEP Texas |  | APCo
|  | (in millions)
Cash and Cash Equivalents |  | $ | 330.1 |  |  | $ | 0.1 |  |  | $ | 5.0 |
Restricted Cash |  | 48.9 |  |  | 34.0 |  |  | 14.9 |
Total Cash, Cash Equivalents and Restricted Cash |  | $ | 379.0 |  |  | $ | 34.1 |  |  | $ | 19.9 |
|  | December 31, 2022
|  | AEP |  | AEP Texas |  | APCo
|  | (in millions)
Cash and Cash Equivalents |  | $ | 509.4 |  |  | $ | 0.1 |  |  | $ | 7.5 |
Restricted Cash |  | 47.1 |  |  | 32.7 |  |  | 14.4 |
Total Cash, Cash Equivalents and Restricted Cash |  | $ | 556.5 |  |  | $ | 32.8 |  |  | $ | 21.9 |
Significant Customers |
Significant Customers of AEP Texas: |  |  |  |  |  |
NRG Energy and TXU Energy |  | 2023 |  | 2022 |  | 2021
Percentage of Total Revenues |  | 41 | % |  | 45 | % |  | 43 | %
Percentage of Accounts Receivable – Customers |  | 34 | % |  | 42 | % |  | 41 | %
Significant Customers of AEPTCo: |  |  |  |  |  |
AEP Subsidiaries |  | 2023 |  | 2022 |  | 2021
Percentage of Total Revenues |  | 79 | % |  | 79 | % |  | 79 | %
Percentage of Total Accounts Receivable |  | 60 | % |  | 72 | % |  | 81 | %
Target Asset Allocations |
Pension Plan Assets |  | Target
Equity |  | 30 | %
Fixed Income |  | 54 | %
Other Investments |  | 15 | %
Cash and Cash Equivalents |  | 1 | %
OPEB Plans Assets |  | Target
Equity |  | 58 | %
Fixed Income |  | 41 | %
Cash and Cash Equivalents |  | 1 | %
Basic and Diluted EPS Calculations |
|  | Years Ended December 31,
|  | 2023 |  | 2022 |  | 2021
|  | (in millions, except per-share data)
|  |  |  | $/share |  |  |  | $/share |  |  |  | $/share
Earnings Attributable to AEP Common Shareholders |  | $ | 2,208.1 |  |  |  |  | $ | 2,307.2 |  |  |  |  | $ | 2,488.1 |  |  |
Weighted-Average Number of Basic AEP Common Shares Outstanding |  | 518.9 |  |  | $ | 4.26 |  |  | 511.8 |  |  | $ | 4.51 |  |  | 500.5 |  |  | $ | 4.97 |
Weighted-Average Dilutive Effect of Stock-Based Awards |  | 1.3 |  |  | (0.02) |  |  | 1.7 |  |  | (0.02) |  |  | 1.3 |  |  | (0.01) |
Weighted-Average Number of Diluted AEP Common Shares Outstanding |  | 520.2 |  |  | $ | 4.24 |  |  | 513.5 |  |  | $ | 4.49 |  |  | 501.8 |  |  | $ | 4.96 |
Supplementary Information |
2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Depreciation and Amortization |  | AEP |  | AEP Texas |  | AEPTCo |  | APCo |  | I&M |  | OPCo |  | PSO |  | SWEPCo
|  | (in millions)
Depreciation and Amortization of Property, Plant and Equipment |  | $ | 2,927.5 |  |  | $ | 380.0 |  |  | $ | 393.8 |  |  | $ | 571.1 |  |  | $ | 439.8 |  |  | $ | 315.8 |  |  | $ | 240.3 |  |  | $ | 323.4 |
Amortization of Certain Securitized Assets |  | 91.9 |  |  | 91.9 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Amortization of Regulatory Assets and Liabilities |  | 71.0 |  |  | (3.4) |  |  | — |  |  | 0.8 |  |  | 30.2 |  |  | 0.4 |  |  | 15.2 |  |  | 19.4 |
Total Depreciation and Amortization |  | $ | 3,090.4 |  |  | $ | 468.5 |  |  | $ | 393.8 |  |  | $ | 571.9 |  |  | $ | 470.0 |  |  | $ | 316.2 |  |  | $ | 255.5 |  |  | $ | 342.8 |
2022 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Depreciation and Amortization |  | AEP |  | AEP Texas |  | AEPTCo |  | APCo |  | I&M |  | OPCo |  | PSO |  | SWEPCo
|  | (in millions)
Depreciation and Amortization of Property, Plant and Equipment |  | $ | 3,072.8 |  |  | $ | 363.5 |  |  | $ | 346.2 |  |  | $ | 576.1 |  |  | $ | 511.9 |  |  | $ | 293.1 |  |  | $ | 226.2 |  |  | $ | 319.3 |
Amortization of Certain Securitized Assets |  | 93.3 |  |  | 93.3 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Amortization of Regulatory Assets and Liabilities |  | 36.7 |  |  | (4.4) |  |  | — |  |  | (0.2) |  |  | 15.3 |  |  | 1.2 |  |  | 3.9 |  |  | 5.5 |
Total Depreciation and Amortization |  | $ | 3,202.8 |  |  | $ | 452.4 |  |  | $ | 346.2 |  |  | $ | 575.9 |  |  | $ | 527.2 |  |  | $ | 294.3 |  |  | $ | 230.1 |  |  | $ | 324.8 |
2021 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Depreciation and Amortization |  | AEP |  | AEP Texas |  | AEPTCo |  | APCo |  | I&M |  | OPCo |  | PSO |  | SWEPCo
|  | (in millions)
Depreciation and Amortization of Property, Plant and Equipment |  | $ | 2,717.1 |  |  | $ | 327.2 |  |  | $ | 297.3 |  |  | $ | 547.0 |  |  | $ | 424.9 |  |  | $ | 301.1 |  |  | $ | 185.9 |  |  | $ | 292.9 |
Amortization of Certain Securitized Assets |  | 64.2 |  |  | 64.2 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Amortization of Regulatory Assets and Liabilities |  | 44.4 |  |  | (4.4) |  |  | — |  |  | (0.8) |  |  | 21.1 |  |  | 2.2 |  |  | 10.7 |  |  | 2.1 |
Total Depreciation and Amortization |  | $ | 2,825.7 |  |  | $ | 387.0 |  |  | $ | 297.3 |  |  | $ | 546.2 |  |  | $ | 446.0 |  |  | $ | 303.3 |  |  | $ | 196.6 |  |  | $ | 295.0 |
|  | Years Ended December 31,
Cash Flow Information |  | 2023 |  | 2022 |  | 2021
|  | (in millions)
Cash Paid (Received) for: |  |  |  |  |  |
Interest, Net of Capitalized Amounts |  | $ | 1,673.5 |  |  | $ | 1,286.3 |  |  | $ | 1,137.2 |
Income Taxes |  | 78.4 |  |  | 116.8 |  |  | 13.2 |
Sale of Transferable Tax Credits |  | (102.0) |  |  | — |  |  | — |
Noncash Investing and Financing Activities: |  |  |  |  |  |
Acquisitions Under Finance Leases |  | 48.7 |  |  | 31.8 |  |  | 287.6 |
Construction Expenditures Included in Current Liabilities as of December 31, |  | 842.4 |  |  | 1,258.9 |  |  | 1,180.4 |
Acquisition of Nuclear Fuel Included in Current Liabilities as of December 31, |  | 24.2 |  |  | — |  |  | — |
Noncash Contribution of Assets to Cedar Creek Project |  | — |  |  | — |  |  | (9.3) |
Noncontrolling Interest Assumed - Dry Lake Solar Project |  | — |  |  | — |  |  | 35.3 |
Noncash Increase in Noncurrent Assets from the Sale of the Competitive Contracted Renewables Portfolio |  | 74.7 |  |  | — |  |  | — |

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