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v3.24.3

Business Segments (Tables) | 9 Months Ended
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Sep. 30, 2024
Segment Reporting Information [Line Items] |
Reportable Segment Information |
| Three Months Ended September 30, 2024
| Vertically Integrated Utilities |  | Transmission and Distribution Utilities |  | AEP Transmission Holdco |  | Generation & Marketing |  | Corporate and Other (a) |  | Reconciling Adjustments |  | Consolidated
| (in millions)
Revenues from: |  |  |  |  |  |  |  |  |  |  |  |  |
External Customers | $ | 3,248.8 |  |  | $ | 1,568.5 |  |  | $ | 113.1 |  |  | $ | 483.7 |  |  | $ | 6.0 |  |  | $ | — |  |  | $ | 5,420.1 |
Other Operating Segments | 54.2 |  |  | 6.9 |  |  | 399.4 |  |  | 15.4 |  |  | 32.1 |  |  | (508.0) |  | (b) | — |
Total Revenues | $ | 3,303.0 |  |  | $ | 1,575.4 |  |  | $ | 512.5 |  |  | $ | 499.1 |  |  | $ | 38.1 |  |  | $ | (508.0) |  |  | $ | 5,420.1 |
Net Income (Loss) | $ | 572.5 |  |  | $ | 245.2 |  |  | $ | 215.8 |  |  | $ | 93.3 |  |  | $ | (165.1) |  |  | $ | — |  |  | $ | 961.7 |
| Three Months Ended September 30, 2023
| Vertically Integrated Utilities |  | Transmission and Distribution Utilities |  | AEP Transmission Holdco |  | Generation & Marketing |  | Corporate and Other (a) |  | Reconciling Adjustments |  | Consolidated
| (in millions)
Revenues from: |  |  |  |  |  |  |  |  |  |  |  |  |
External Customers | $ | 3,158.1 |  |  | $ | 1,535.2 |  |  | $ | 94.0 |  |  | $ | 527.5 |  |  | $ | 26.9 |  |  | $ | — |  |  | $ | 5,341.7 |
Other Operating Segments | 47.3 |  |  | 8.9 |  |  | 382.7 |  |  | 39.2 |  |  | 30.3 |  |  | (508.4) |  | (b) | — |
Total Revenues | $ | 3,205.4 |  |  | $ | 1,544.1 |  |  | $ | 476.7 |  |  | $ | 566.7 |  |  | $ | 57.2 |  |  | $ | (508.4) |  |  | $ | 5,341.7 |
Net Income (Loss) | $ | 514.0 |  |  | $ | 206.0 |  |  | $ | 203.9 |  |  | $ | 132.8 |  |  | $ | (98.4) |  |  | $ | — |  |  | $ | 958.3 |
| Nine Months Ended September 30, 2024
| Vertically Integrated Utilities |  | Transmission and Distribution Utilities |  | AEP Transmission Holdco |  | Generation & Marketing |  | Corporate and Other (a) |  | Reconciling Adjustments |  | Consolidated
| (in millions)
Revenues from: |  |  |  |  |  |  |  |  |  |  |  |  |
External Customers | $ | 8,722.0 |  |  | $ | 4,480.5 |  |  | $ | 332.3 |  |  | $ | 1,442.1 |  |  | $ | 48.1 |  |  | $ | — |  |  | $ | 15,025.0 |
Other Operating Segments | 147.9 |  |  | 21.0 |  |  | 1,167.4 |  |  | 88.0 |  |  | 100.5 |  |  | (1,524.8) |  | (b) | — |
Total Revenues | $ | 8,869.9 |  |  | $ | 4,501.5 |  |  | $ | 1,499.7 |  |  | $ | 1,530.1 |  |  | $ | 148.6 |  |  | $ | (1,524.8) |  |  | $ | 15,025.0 |
Net Income (Loss) | $ | 1,201.5 |  |  | $ | 542.3 |  |  | $ | 627.5 |  |  | $ | 226.1 |  |  | $ | (287.5) |  |  | $ | — |  |  | $ | 2,309.9 |
| Nine Months Ended September 30, 2023
| Vertically Integrated Utilities |  | Transmission and Distribution Utilities |  | AEP Transmission Holdco |  | Generation & Marketing |  | Corporate and Other (a) |  | Reconciling Adjustments |  | Consolidated
| (in millions)
Revenues from: |  |  |  |  |  |  |  |  |  |  |  |  |
External Customers | $ | 8,603.4 |  |  | $ | 4,321.3 |  |  | $ | 272.4 |  |  | $ | 1,172.6 |  |  | $ | 35.4 |  |  | $ | — |  |  | $ | 14,405.1 |
Other Operating Segments | 134.3 |  |  | 27.2 |  |  | 1,118.4 |  |  | 52.5 |  |  | 83.9 |  |  | (1,416.3) |  | (b) | — |
Total Revenues | $ | 8,737.7 |  |  | $ | 4,348.5 |  |  | $ | 1,390.8 |  |  | $ | 1,225.1 |  |  | $ | 119.3 |  |  | $ | (1,416.3) |  |  | $ | 14,405.1 |
Net Income (Loss) | $ | 1,054.6 |  |  | $ | 508.4 |  |  | $ | 583.6 |  |  | $ | (62.2) |  |  | $ | (209.6) |  |  | $ | — |  |  | $ | 1,874.8 |
|  | September 30, 2024
|  | Vertically Integrated Utilities |  | Transmission and Distribution Utilities |  | AEP Transmission Holdco |  | Generation & Marketing |  | Corporate and Other (a) |  | Reconciling Adjustments |  | Consolidated
|  | (in millions)
Total Assets |  | $ | 53,723.0 |  |  | $ | 26,102.6 |  |  | $ | 17,490.1 |  |  | $ | 1,725.2 |  |  | $ | 4,393.7 |  | (c) | $ | (3,315.5) |  | (d) | $ | 100,119.1 |
|  | December 31, 2023
|  | Vertically Integrated Utilities |  | Transmission and Distribution Utilities |  | AEP Transmission Holdco |  | Generation & Marketing |  | Corporate and Other (a) |  | Reconciling Adjustments |  | Consolidated
|  | (in millions)
Total Assets |  | $ | 51,802.1 |  |  | $ | 24,838.4 |  |  | $ | 16,575.6 |  |  | $ | 2,598.5 |  |  | $ | 5,194.0 |  | (c) | $ | (4,324.6) |  | (d) | $ | 96,684.0 |
(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 and interest expense, income tax expense and other nonallocated costs. (b)Represents inter-segment revenues. (c)Includes elimination of Parent’s investments in wholly-owned subsidiary companies. (d)Reconciling Adjustments for Total Assets primarily include elimination of intercompany advances to affiliates and intercompany accounts receivable.
| Three Months Ended September 30, 2024
| State Transcos |  | AEPTCo Parent |  | Reconciling Adjustments |  | AEPTCo Consolidated
| (in millions)
Revenues from: |  |  |  |  |  |  |
External Customers | $ | 101.1 |  |  | $ | — |  |  | $ | — |  |  | $ | 101.1 |
Sales to AEP Affiliates | 395.9 |  |  | — |  |  | — |  |  | 395.9 |
Other Revenues | 0.2 |  |  | — |  |  | — |  |  | 0.2 |
Total Revenues | $ | 497.2 |  |  | $ | — |  |  | $ | — |  |  | $ | 497.2 |
Net Income | $ | 190.8 |  |  | $ | 0.5 |  | (a) | $ | — |  |  | $ | 191.3 |
| Three Months Ended September 30, 2023
| State Transcos |  | AEPTCo Parent |  | Reconciling Adjustments |  | AEPTCo Consolidated
| (in millions)
Revenues from: |  |  |  |  |  |  |
External Customers | $ | 92.8 |  |  | $ | — |  |  | $ | — |  |  | $ | 92.8 |
Sales to AEP Affiliates | 369.9 |  |  | — |  |  | — |  |  | 369.9 |
Total Revenues | $ | 462.7 |  |  | $ | — |  |  | $ | — |  |  | $ | 462.7 |
Net Income | $ | 178.2 |  |  | $ | 1.0 |  | (a) | $ | — |  |  | $ | 179.2 |
| Nine Months Ended September 30, 2024
| State Transcos |  | AEPTCo Parent |  | Reconciling Adjustments |  | AEPTCo Consolidated
| (in millions)
Revenues from: |  |  |  |  |  |  |
External Customers | $ | 295.1 |  |  | $ | — |  |  | $ | — |  |  | $ | 295.1 |
Sales to AEP Affiliates | 1,157.1 |  |  | — |  |  | — |  |  | 1,157.1 |
Other Revenues | 3.0 |  |  | — |  |  | — |  |  | 3.0 |
Total Revenues | $ | 1,455.2 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,455.2 |
Net Income | $ | 547.7 |  |  | $ | 0.5 |  | (a) | $ | — |  |  | $ | 548.2 |
| Nine Months Ended September 30, 2023
| State Transcos |  | AEPTCo Parent |  | Reconciling Adjustments |  | AEPTCo Consolidated
| (in millions)
Revenues from: |  |  |  |  |  |  |
External Customers | $ | 269.2 |  |  | $ | — |  |  | $ | — |  |  | $ | 269.2 |
Sales to AEP Affiliates | 1,080.0 |  |  | — |  |  | — |  |  | 1,080.0 |
Total Revenues | $ | 1,349.2 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,349.2 |
Net Income | $ | 514.0 |  |  | $ | 3.6 |  | (a) | $ | — |  |  | $ | 517.6 |
| September 30, 2024
| State Transcos |  | AEPTCo Parent |  | Reconciling Adjustments |  | AEPTCo Consolidated
| (in millions)
Total Assets | $ | 15,972.9 |  |  | $ | 5,938.9 |  | (b) | $ | (6,017.5) |  | (c) | $ | 15,894.3 |
| December 31, 2023
| State Transcos |  | AEPTCo Parent |  | Reconciling Adjustments |  | AEPTCo Consolidated
| (in millions)
Total Assets | $ | 15,120.6 |  |  | $ | 5,486.6 |  | (b) | $ | (5,534.7) |  | (c) | $ | 15,072.5 |
(a)Includes the elimination of AEPTCo Parent’s equity earnings in the State Transcos. (b)Primarily relates to Notes Receivable from the State Transcos. (c)Primarily relates to the 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 -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
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