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v3.24.3

Derivatives and Hedging (Tables) | 9 Months Ended
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Sep. 30, 2024
Notional Volume of Derivative Instruments |
|  | Notional Volume of Derivative Instruments
|  | September 30, 2024 |  | December 31, 2023
Primary Risk Exposure |  | AEP |  | AEP Texas |  | APCo |  | I&M |  | OPCo |  | PSO |  | SWEPCo |  | AEP |  | AEP Texas |  | APCo |  | I&M |  | OPCo |  | PSO |  | SWEPCo
|  | (in millions)
Commodity: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Power (MWhs) |  | 306.0 |  |  | — |  |  | 38.6 |  |  | 8.5 |  |  | 2.1 |  |  | 7.0 |  |  | 6.5 |  |  | 246.8 |  |  | — |  |  | 16.8 |  |  | 5.9 |  |  | 2.2 |  |  | 4.1 |  |  | 2.9 |
Natural Gas (MMBtus) |  | 161.5 |  |  | — |  |  | 47.1 |  |  | — |  |  | — |  |  | 36.4 |  |  | 14.7 |  |  | 151.6 |  |  | — |  |  | 37.3 |  |  | — |  |  | — |  |  | 34.9 |  |  | 17.9 |
Heating Oil and Gasoline (Gallons) |  | 7.2 |  |  | 1.7 |  |  | 0.9 |  |  | 1.6 |  |  | 1.1 |  |  | 0.7 |  |  | 0.8 |  |  | 6.5 |  |  | 1.8 |  |  | 1.0 |  |  | 0.6 |  |  | 1.2 |  |  | 0.7 |  |  | 0.9 |
Interest Rate (USD) |  | $ | 59.3 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 80.1 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Interest Rate on Long-term Debt (USD) |  | $ | 1,750.0 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 400.0 |  |  | $ | — |  |  | $ | 1,300.0 |  |  | $ | 150.0 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Fair Value of Derivative Instruments |
|  | September 30, 2024
|  | AEP |  | AEP Texas |  | APCo |  | I&M |  | OPCo |  | PSO |  | SWEPCo
Assets: |  | (in millions)
Current Risk Management Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |
Risk Management Contracts - Commodity |  | $ | 444.4 |  |  | $ | — |  |  | $ | 54.4 |  |  | $ | 22.7 |  |  | $ | — |  |  | $ | 28.7 |  |  | $ | 24.6 |
Hedging Contracts - Commodity |  | 41.2 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Hedging Contracts - Interest Rate |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total Current Risk Management Assets |  | 485.6 |  |  | — |  |  | 54.4 |  |  | 22.7 |  |  | — |  |  | 28.7 |  |  | 24.6 |
Long-term Risk Management Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |
Risk Management Contracts - Commodity |  | 448.3 |  |  | — |  |  | 0.8 |  |  | — |  |  | — |  |  | 0.6 |  |  | — |
Hedging Contracts - Commodity |  | 63.3 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Hedging Contracts - Interest Rate |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total Long-term Risk Management Assets |  | 511.6 |  |  | — |  |  | 0.8 |  |  | — |  |  | — |  |  | 0.6 |  |  | — |
Total Assets |  | $ | 997.2 |  |  | $ | — |  |  | $ | 55.2 |  |  | $ | 22.7 |  |  | $ | — |  |  | $ | 29.3 |  |  | $ | 24.6 |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current Risk Management Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |
Risk Management Contracts - Commodity |  | $ | 334.9 |  |  | $ | 0.5 |  |  | $ | 15.9 |  |  | $ | 1.5 |  |  | $ | 6.6 |  |  | $ | 11.9 |  |  | $ | 5.6 |
Hedging Contracts - Commodity |  | 6.7 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Hedging Contracts - Interest Rate |  | 51.7 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 10.9 |  |  | — |
Total Current Risk Management Liabilities |  | 393.3 |  |  | 0.5 |  |  | 15.9 |  |  | 1.5 |  |  | 6.6 |  |  | 22.8 |  |  | 5.6 |
Long-term Risk Management Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |
Risk Management Contracts - Commodity |  | 391.1 |  |  | 0.1 |  |  | 6.7 |  |  | 0.1 |  |  | 45.4 |  |  | 0.6 |  |  | — |
Hedging Contracts - Commodity |  | 2.9 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Hedging Contracts - Interest Rate |  | 40.9 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total Long-term Risk Management Liabilities |  | 434.9 |  |  | 0.1 |  |  | 6.7 |  |  | 0.1 |  |  | 45.4 |  |  | 0.6 |  |  | — |
Total Liabilities |  | $ | 828.2 |  |  | $ | 0.6 |  |  | $ | 22.6 |  |  | $ | 1.6 |  |  | $ | 52.0 |  |  | $ | 23.4 |  |  | $ | 5.6 |
Total MTM Derivative Contract Net Assets (Liabilities) Recognized |  | $ | 169.0 |  |  | $ | (0.6) |  |  | $ | 32.6 |  |  | $ | 21.1 |  |  | $ | (52.0) |  |  | $ | 5.9 |  |  | $ | 19.0 |
|  | December 31, 2023
|  | AEP |  | AEP Texas |  | APCo |  | I&M |  | OPCo |  | PSO |  | SWEPCo
Assets: |  | (in millions)
Current Risk Management Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |
Risk Management Contracts - Commodity |  | $ | 555.1 |  |  | $ | — |  |  | $ | 24.6 |  |  | $ | 30.1 |  |  | $ | — |  |  | $ | 19.7 |  |  | $ | 12.0 |
Hedging Contracts - Commodity |  | 56.7 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Hedging Contracts - Interest Rate |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total Current Risk Management Assets |  | 611.8 |  |  | — |  |  | 24.6 |  |  | 30.1 |  |  | — |  |  | 19.7 |  |  | 12.0 |
Long-term Risk Management Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |
Risk Management Contracts - Commodity |  | 468.8 |  |  | — |  |  | 0.3 |  |  | 12.0 |  |  | — |  |  | — |  |  | 0.5 |
Hedging Contracts - Commodity |  | 86.8 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Hedging Contracts - Interest Rate |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total Long-term Risk Management Assets |  | 555.6 |  |  | — |  |  | 0.3 |  |  | 12.0 |  |  | — |  |  | — |  |  | 0.5 |
Total Assets |  | $ | 1,167.4 |  |  | $ | — |  |  | $ | 24.9 |  |  | $ | 42.1 |  |  | $ | — |  |  | $ | 19.7 |  |  | $ | 12.5 |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current Risk Management Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |
Risk Management Contracts - Commodity |  | $ | 588.0 |  |  | $ | 0.2 |  |  | $ | 18.5 |  |  | $ | 5.4 |  |  | $ | 6.9 |  |  | $ | 29.7 |  |  | $ | 14.9 |
Hedging Contracts - Commodity |  | 8.2 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Hedging Contracts - Interest Rate |  | 50.5 |  |  | 2.7 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total Current Risk Management Liabilities |  | 646.7 |  |  | 2.9 |  |  | 18.5 |  |  | 5.4 |  |  | 6.9 |  |  | 29.7 |  |  | 14.9 |
Long-term Risk Management Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |
Risk Management Contracts - Commodity |  | 377.6 |  |  | — |  |  | 6.9 |  |  | 0.2 |  |  | 43.9 |  |  | 1.0 |  |  | 1.7 |
Hedging Contracts - Commodity |  | 2.2 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Hedging Contracts - Interest Rate |  | 56.9 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total Long-term Risk Management Liabilities |  | 436.7 |  |  | — |  |  | 6.9 |  |  | 0.2 |  |  | 43.9 |  |  | 1.0 |  |  | 1.7 |
Total Liabilities |  | $ | 1,083.4 |  |  | $ | 2.9 |  |  | $ | 25.4 |  |  | $ | 5.6 |  |  | $ | 50.8 |  |  | $ | 30.7 |  |  | $ | 16.6 |
Total MTM Derivative Contract Net Assets (Liabilities) Recognized |  | $ | 84.0 |  |  | $ | (2.9) |  |  | $ | (0.5) |  |  | $ | 36.5 |  |  | $ | (50.8) |  |  | $ | (11.0) |  |  | $ | (4.1) |
|  | September 30, 2024
|  | AEP |  | AEP Texas |  | APCo |  | I&M |  | OPCo |  | PSO |  | SWEPCo
Assets: |  | (in millions)
Current Risk Management Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |
Gross Amounts Recognized |  | $ | 485.6 |  |  | $ | — |  |  | $ | 54.4 |  |  | $ | 22.7 |  |  | $ | — |  |  | $ | 28.7 |  |  | $ | 24.6 |
Gross Amounts Offset |  | (248.9) |  |  | — |  |  | (7.3) |  |  | (1.0) |  |  | — |  |  | (0.3) |  |  | (0.5) |
Net Amounts Presented |  | 236.7 |  |  | — |  |  | 47.1 |  |  | 21.7 |  |  | — |  |  | 28.4 |  |  | 24.1 |
Long-term Risk Management Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |
Gross Amounts Recognized |  | 511.6 |  |  | — |  |  | 0.8 |  |  | — |  |  | — |  |  | 0.6 |  |  | — |
Gross Amounts Offset |  | (253.3) |  |  | — |  |  | (0.8) |  |  | — |  |  | — |  |  | (0.5) |  |  | — |
Net Amounts Presented |  | 258.3 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 0.1 |  |  | — |
Total Assets |  | $ | 495.0 |  |  | $ | — |  |  | $ | 47.1 |  |  | $ | 21.7 |  |  | $ | — |  |  | $ | 28.5 |  |  | $ | 24.1 |
Liabilities: |  |  |  |
Current Risk Management Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |
Gross Amounts Recognized |  | $ | 393.3 |  |  | $ | 0.5 |  |  | $ | 15.9 |  |  | $ | 1.5 |  |  | $ | 6.6 |  |  | $ | 22.8 |  |  | $ | 5.6 |
Gross Amounts Offset |  | (241.3) |  |  | (0.5) |  |  | (8.3) |  |  | (1.2) |  |  | (0.3) |  |  | (0.5) |  |  | (0.8) |
Net Amounts Presented |  | 152.0 |  |  | — |  |  | 7.6 |  |  | 0.3 |  |  | 6.3 |  |  | 22.3 |  |  | 4.8 |
Long-term Risk Management Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |
Gross Amounts Recognized |  | 434.9 |  |  | 0.1 |  |  | 6.7 |  |  | 0.1 |  |  | 45.4 |  |  | 0.6 |  |  | — |
Gross Amounts Offset |  | (233.3) |  |  | (0.1) |  |  | (0.8) |  |  | — |  |  | (0.1) |  |  | (0.5) |  |  | — |
Net Amounts Presented |  | 201.6 |  |  | — |  |  | 5.9 |  |  | 0.1 |  |  | 45.3 |  |  | 0.1 |  |  | — |
Total Liabilities |  | $ | 353.6 |  |  | $ | — |  |  | $ | 13.5 |  |  | $ | 0.4 |  |  | $ | 51.6 |  |  | $ | 22.4 |  |  | $ | 4.8 |
Total MTM Derivative Contract Net Assets (Liabilities) |  | $ | 141.4 |  |  | $ | — |  |  | $ | 33.6 |  |  | $ | 21.3 |  |  | $ | (51.6) |  |  | $ | 6.1 |  |  | $ | 19.3 |
|  | December 31, 2023
| AEP |  | AEP Texas |  | APCo |  | I&M |  | OPCo |  | PSO |  | SWEPCo
Assets: |  | (in millions)
Current Risk Management Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |
Gross Amounts Recognized |  | $ | 611.8 |  |  | $ | — |  |  | $ | 24.6 |  |  | $ | 30.1 |  |  | $ | — |  |  | $ | 19.7 |  |  | $ | 12.0 |
Gross Amounts Offset |  | (394.3) |  |  | — |  |  | (2.2) |  |  | (2.3) |  |  | — |  |  | (0.7) |  |  | (0.4) |
Net Amounts Presented |  | 217.5 |  |  | — |  |  | 22.4 |  |  | 27.8 |  |  | — |  |  | 19.0 |  |  | 11.6 |
Long-term Risk Management Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |
Gross Amounts Recognized |  | 555.6 |  |  | — |  |  | 0.3 |  |  | 12.0 |  |  | — |  |  | — |  |  | 0.5 |
Gross Amounts Offset |  | (234.4) |  |  | — |  |  | (0.3) |  |  | (0.2) |  |  | — |  |  | — |  |  | (0.5) |
Net Amounts Presented |  | 321.2 |  |  | — |  |  | — |  |  | 11.8 |  |  | — |  |  | — |  |  | — |
Total Assets |  | $ | 538.7 |  |  | $ | — |  |  | $ | 22.4 |  |  | $ | 39.6 |  |  | $ | — |  |  | $ | 19.0 |  |  | $ | 11.6 |
Liabilities: |  |  |  |
Current Risk Management Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |
Gross Amounts Recognized |  | $ | 646.7 |  |  | $ | 2.9 |  |  | $ | 18.5 |  |  | $ | 5.4 |  |  | $ | 6.9 |  |  | $ | 29.7 |  |  | $ | 14.9 |
Gross Amounts Offset |  | (417.1) |  |  | (0.2) |  |  | (2.6) |  |  | (3.4) |  |  | (0.1) |  |  | (0.8) |  |  | (0.5) |
Net Amounts Presented |  | 229.6 |  |  | 2.7 |  |  | 15.9 |  |  | 2.0 |  |  | 6.8 |  |  | 28.9 |  |  | 14.4 |
Long-term Risk Management Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |
Gross Amounts Recognized |  | 436.7 |  |  | — |  |  | 6.9 |  |  | 0.2 |  |  | 43.9 |  |  | 1.0 |  |  | 1.7 |
Gross Amounts Offset |  | (194.9) |  |  | — |  |  | (0.3) |  |  | (0.2) |  |  | — |  |  | — |  |  | (0.5) |
Net Amounts Presented |  | 241.8 |  |  | — |  |  | 6.6 |  |  | — |  |  | 43.9 |  |  | 1.0 |  |  | 1.2 |
Total Liabilities |  | $ | 471.4 |  |  | $ | 2.7 |  |  | $ | 22.5 |  |  | $ | 2.0 |  |  | $ | 50.7 |  |  | $ | 29.9 |  |  | $ | 15.6 |
Total MTM Derivative Contract Net Assets (Liabilities) |  | $ | 67.3 |  |  | $ | (2.7) |  |  | $ | (0.1) |  |  | $ | 37.6 |  |  | $ | (50.7) |  |  | $ | (10.9) |  |  | $ | (4.0) |
Amount of Gain (Loss) Recognized on Risk Management Contracts | Amount of Gain (Loss) Recognized on Risk Management Contracts
|  | Three Months Ended September 30, 2024
Location of Gain (Loss) |  | AEP |  | AEP Texas |  | APCo |  | I&M |  | OPCo |  | PSO |  | SWEPCo
|  | (in millions)
Vertically Integrated Utilities Revenues |  | $ | (1.1) |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Generation & Marketing Revenues |  | (67.1) |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Electric Generation, Transmission and Distribution Revenues |  | — |  |  | — |  |  | 0.1 |  |  | (1.2) |  |  | — |  |  | — |  |  | — |
Purchased Electricity, Fuel and Other Consumables Used for Electric Generation |  | 0.7 |  |  | — |  |  | 0.5 |  |  | — |  |  | — |  |  | — |  |  | — |
Other Operation |  | (0.3) |  |  | (0.1) |  |  | — |  |  | (0.1) |  |  | — |  |  | — |  |  | — |
Maintenance |  | (0.5) |  |  | (0.1) |  |  | (0.1) |  |  | (0.1) |  |  | (0.1) |  |  | — |  |  | (0.1) |
Regulatory Assets (a) |  | 3.1 |  |  | (0.6) |  |  | (3.9) |  |  | — |  |  | (9.2) |  |  | 11.6 |  |  | 6.5 |
Regulatory Liabilities (a) |  | 60.8 |  |  | — |  |  | 9.8 |  |  | 2.9 |  |  | — |  |  | 23.8 |  |  | 21.8 |
Total Gain (Loss) on Risk Management Contracts |  | $ | (4.4) |  |  | $ | (0.8) |  |  | $ | 6.4 |  |  | $ | 1.5 |  |  | $ | (9.3) |  |  | $ | 35.4 |  |  | $ | 28.2 |
|  | 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 |
|  | Nine Months Ended September 30, 2024
Location of Gain (Loss) |  | AEP |  | AEP Texas |  | APCo |  | I&M |  | OPCo |  | PSO |  | SWEPCo
|  | (in millions)
Vertically Integrated Utilities Revenues |  | $ | (22.5) |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Generation & Marketing Revenues |  | (164.8) |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Electric Generation, Transmission and Distribution Revenues |  | — |  |  | — |  |  | 0.2 |  |  | (22.7) |  |  | — |  |  | — |  |  | — |
Purchased Electricity, Fuel and Other Consumables Used for Electric Generation |  | 2.4 |  |  | — |  |  | 2.1 |  |  | 0.1 |  |  | — |  |  | — |  |  | — |
Maintenance |  | 0.1 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Regulatory Assets (a) |  | 48.3 |  |  | (0.3) |  |  | 11.2 |  |  | 3.0 |  |  | (3.7) |  |  | 19.3 |  |  | 11.6 |
Regulatory Liabilities (a) |  | 206.0 |  |  | — |  |  | 35.5 |  |  | 12.2 |  |  | — |  |  | 75.9 |  |  | 71.4 |
Total Gain (Loss) on Risk Management Contracts |  | $ | 69.5 |  |  | $ | (0.3) |  |  | $ | 49.0 |  |  | $ | (7.4) |  |  | $ | (3.7) |  |  | $ | 95.2 |  |  | $ | 83.0 |
|  | 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 |
(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, 2024 |  | December 31, 2023 |  | September 30, 2024 |  | December 31, 2023
|  | (in millions)
Long-term Debt (a) (b) |  | $ | (890.1) |  |  | $ | (878.2) |  |  | $ | 57.5 |  |  | $ | 68.4 |
(a)Amounts included within Noncurrent Liabilities line item Long-term Debt on the Balance Sheet. (b)Amounts include $(24) million and $(30) million as of September 30, 2024 and December 31, 2023, 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,
| 2024 |  | 2023 |  | 2024 |  | 2023
| (in millions)
Gain (Loss) on Interest Rate Contracts: |  |  |  |  |  |  |
Fair Value Hedging Instruments (a) | $ | 14.8 |  |  | $ | (13.4) |  |  | $ | 16.7 |  |  | $ | (10.7) |
Fair Value Portion of Long-term Debt (a) | (14.8) |  |  | 13.4 |  |  | (16.7) |  |  | 10.7 |
(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 the Registrants’ Balance Sheets
|  | September 30, 2024 |  | December 31, 2023
|  |  |  |  |  | Portion Expected to |  |  |  |  |  | Portion Expected to
|  | AOCI |  | be Reclassed to |  | AOCI |  | be Reclassed to
|  | Gain (Loss) |  | Net Income During |  | Gain (Loss) |  | Net Income During
|  | Net of Tax |  | the Next Twelve Months |  | Net of Tax |  | the Next Twelve Months
|  | Commodity |  | Interest Rate |  | Commodity |  | Interest Rate |  | Commodity |  | Interest Rate |  | Commodity |  | Interest Rate
|  | (in millions)
AEP |  | $ | 74.9 |  |  | $ | (8.2) |  |  | $ | 27.3 |  |  | $ | 2.9 |  |  | $ | 104.9 |  |  | $ | (8.1) |  |  | $ | 38.3 |  |  | $ | 3.2 |
AEP Texas |  | — |  |  | 6.5 |  |  | — |  |  | 0.7 |  |  | — |  |  | 0.5 |  |  | — |  |  | 0.2 |
APCo |  | — |  |  | 5.3 |  |  | — |  |  | 0.8 |  |  | — |  |  | 5.9 |  |  | — |  |  | 0.8 |
I&M |  | — |  |  | (5.2) |  |  | — |  |  | (0.4) |  |  | — |  |  | (5.5) |  |  | — |  |  | (0.4) |
PSO |  | — |  |  | (8.8) |  |  | — |  |  | (0.6) |  |  | — |  |  | (0.2) |  |  | — |  |  | — |
SWEPCo |  | — |  |  | 1.1 |  |  | — |  |  | 0.3 |  |  | — |  |  | 1.3 |  |  | — |  |  | 0.3 |

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