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VARIABLE INTEREST ENTITIES AND EQUITY METHOD INVESTMENTS (Tables) | 12 Months Ended
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Dec. 31, 2024
Variable Interest Entities [Abstract] |
Consolidated Assets And Liabilities Of Variable Interest Entities | The balances below represent the assets and liabilities of AEP’s consolidated VIEs. These balances include intercompany transactions that are eliminated upon consolidation.
December 31, 2024
| Consolidated VIEs
| SWEPCo Sabine |  | I&M DCC Fuel |  |  |  | AEP Texas Restoration Funding |  | APCo Appalachian Consumer Rate Relief Funding |  | SWEPCo Storm Recovery Funding |  | AEP Credit |  | Protected Cell of EIS |  | Transource Energy
| (in millions)
ASSETS |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current Assets | $ | 6.0 |  |  | $ | 79.3 |  |  |  |  | $ | 21.3 |  |  | $ | 14.2 |  |  | $ | 3.4 |  |  | $ | 1,118.3 |  |  | $ | 218.5 |  |  | $ | 40.2 |
Net Property, Plant and Equipment | — |  |  | 132.3 |  |  |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 598.3 |
Other Noncurrent Assets | 110.8 |  | 63.6 |  |  |  | 121.9 |  | (a) | 109.6 | (b) | 331.4 |  | 10.5 |  |  | — |  |  | 3.5 |
Total Assets | $ | 116.8 |  |  | $ | 275.2 |  |  |  |  | $ | 143.2 |  |  | $ | 123.8 |  |  | $ | 334.8 |  |  | $ | 1,128.8 |  |  | $ | 218.5 |  |  | $ | 642.0 |
LIABILITIES AND EQUITY |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current Liabilities | $ | 20.1 |  |  | $ | 79.2 |  |  |  |  | $ | 30.7 |  |  | $ | 30.5 |  |  | $ | 24.4 |  |  | $ | 1,068.8 |  |  | $ | 54.7 |  |  | $ | 57.2 |
Noncurrent Liabilities | 96.3 |  |  | 196.0 |  |  |  |  | 111.2 |  |  | 91.4 |  | 308.7 |  | 1.0 |  | 96.0 |  |  | 274.3 |
Equity | 0.4 |  | — |  |  |  |  | 1.3 |  | 1.9 |  | 1.7 |  | 59.0 |  |  | 67.8 |  |  | 310.5 |
Total Liabilities and Equity | $ | 116.8 |  |  | $ | 275.2 |  |  |  |  | $ | 143.2 |  |  | $ | 123.8 |  |  | $ | 334.8 |  |  | $ | 1,128.8 |  |  | $ | 218.5 |  |  | $ | 642.0 |
(a)Includes an intercompany item eliminated in consolidation of $5 million. (b)Includes an intercompany item eliminated in consolidation of $1 million.
December 31, 2023
| Consolidated VIEs
| SWEPCo Sabine |  | I&M DCC Fuel |  | AEP Texas Transition Funding |  | AEP Texas Restoration Funding |  | APCo Appalachian Consumer Rate Relief Funding |  | AEP Credit |  | Protected Cell of EIS |  | Transource Energy
| (in millions)
ASSETS |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current Assets | $ | 4.2 |  |  | $ | 81.9 |  |  | $ | 25.5 |  |  | $ | 27.5 |  |  | $ | 13.3 |  |  | $ | 1,208.8 |  |  | $ | 205.3 |  |  | $ | 36.9 |
Net Property, Plant and Equipment | — |  |  | 153.8 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 533.4 |
Other Noncurrent Assets | 150.7 |  |  | 81.7 |  |  | 71.4 |  | (a) | 145.6 |  | (b) | 138.2 |  | (c) | 9.6 |  |  | — |  |  | 5.1 |
Total Assets | $ | 154.9 |  |  | $ | 317.4 |  |  | $ | 96.9 |  |  | $ | 173.1 |  |  | $ | 151.5 |  |  | $ | 1,218.4 |  |  | $ | 205.3 |  |  | $ | 575.4 |
LIABILITIES AND EQUITY |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current Liabilities | $ | 19.9 |  |  | $ | 81.7 |  |  | $ | 75.5 |  |  | $ | 36.8 |  |  | $ | 29.9 |  |  | $ | 1,155.0 |  |  | $ | 49.2 |  |  | $ | 45.3 |
Noncurrent Liabilities | 134.8 |  |  | 235.7 |  |  | 17.0 |  |  | 135.1 |  |  | 119.7 |  |  | 0.9 |  |  | 91.7 |  |  | 241.5 |
Equity | 0.2 |  |  | — |  |  | 4.4 |  |  | 1.2 |  |  | 1.9 |  |  | 62.5 |  |  | 64.4 |  |  | 288.6 |
Total Liabilities and Equity | $ | 154.9 |  |  | $ | 317.4 |  |  | $ | 96.9 |  |  | $ | 173.1 |  |  | $ | 151.5 |  |  | $ | 1,218.4 |  |  | $ | 205.3 |  |  | $ | 575.4 |
(a)Includes an intercompany item eliminated in consolidation of $8 million. (b)Includes an intercompany item eliminated in consolidation of $6 million. (c)Includes an intercompany item eliminated in consolidation of $2 million.
Billings from Significant Variable Interest | Total AEPSC billings to the Registrant Subsidiaries were as follows:
|  | Years Ended December 31,
Company |  | 2024 |  | 2023 |  | 2022
|  | (in millions)
AEP Texas |  | $ | 242.6 |  |  | $ | 228.5 |  |  | $ | 236.8 |
AEPTCo |  | 289.7 |  |  | 269.9 |  |  | 286.6 |
APCo |  | 335.3 |  |  | 324.9 |  |  | 347.5 |
I&M |  | 187.6 |  |  | 178.4 |  |  | 192.4 |
OPCo |  | 283.4 |  |  | 269.5 |  |  | 272.5 |
PSO |  | 157.4 |  |  | 138.6 |  |  | 142.3 |
SWEPCo |  | 194.4 |  |  | 185.1 |  |  | 192.5 |
Carrying Amount and Classification of Variable Interest in Accounts Payable | The carrying amount and classification of variable interest in AEPSC’s accounts payable were as follows:
|  | December 31,
|  | 2024 |  | 2023
Company |  | As Reported on the Balance Sheet |  | Maximum Exposure |  | As Reported on the Balance Sheet |  | Maximum Exposure
|  | (in millions)
AEP Texas |  | $ | 26.1 |  |  | $ | 26.1 |  |  | $ | 15.1 |  |  | $ | 15.1 |
AEPTCo |  | 29.3 |  |  | 29.3 |  |  | 17.9 |  |  | 17.9 |
APCo |  | 36.4 |  |  | 36.4 |  |  | 21.1 |  |  | 21.1 |
I&M |  | 25.1 |  |  | 25.1 |  |  | 14.3 |  |  | 14.3 |
OPCo |  | 34.5 |  |  | 34.5 |  |  | 19.0 |  |  | 19.0 |
PSO |  | 19.2 |  |  | 19.2 |  |  | 10.6 |  |  | 10.6 |
SWEPCo |  | 22.0 |  |  | 22.0 |  |  | 12.7 |  |  | 12.7 |
SWEPCo's Investment In DHLC | SWEPCo’s investment in DHLC was:
| December 31,
| 2024 |  | 2023
| As Reported on the Balance Sheet |  | Maximum Exposure |  | As Reported on the Balance Sheet |  | Maximum Exposure
| (in millions)
Capital Contribution from SWEPCo | $ | 7.6 |  |  | $ | 7.6 |  |  | $ | 7.6 |  |  | $ | 7.6 |
Retained Earnings | 0.3 |  |  | 0.3 |  |  | 0.4 |  |  | 0.4 |
SWEPCo’s Share of Obligations | — |  |  | 15.6 |  |  | — |  |  | 19.2 |
Total Investment in DHLC | $ | 7.9 |  |  | $ | 23.5 |  |  | $ | 8.0 |  |  | $ | 27.2 |
AEP's Investment In OVEC | AEP’s investment in OVEC was:
| December 31,
| 2024 |  | 2023
| As Reported on the Balance Sheet |  | Maximum Exposure |  | As Reported on the Balance Sheet |  | Maximum Exposure
| (in millions)
Capital Contribution from AEP | $ | 4.4 |  |  | $ | 4.4 |  |  | $ | 4.4 |  |  | $ | 4.4 |
AEP’s Share of OVEC Debt (a) | — |  |  | 433.2 |  |  | — |  |  | 465.3 |
Total Investment in OVEC | $ | 4.4 |  |  | $ | 437.6 |  |  | $ | 4.4 |  |  | $ | 469.7 |
(a)Based on the Registrants’ power participation ratios, APCo, I&M and OPCo’s share of OVEC debt was $156 million, $78 million and $199 million as of December 31, 2024, respectively, and $168 million, $84 million and $213 million as of December 31, 2023, respectively.
Purchased Power from OVEC | Power purchased by the Registrant Subsidiaries from OVEC is included in Purchased Electricity, Fuel and Other Consumables Used for Electric Generation and Purchased Electricity for Resale on the statements of income and is shown in the table below:
|  | Years Ended December 31,
Company |  | 2024 |  | 2023 |  | 2022
|  | (in millions)
APCo |  | $ | 133.6 |  |  | $ | 121.8 |  |  | $ | 119.3 |
I&M |  | 66.8 |  |  | 60.9 |  |  | 59.7 |
OPCo |  | 169.7 |  |  | 154.7 |  |  | 151.8 |

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