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ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) | 12 Months Ended
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Dec. 31, 2024
Accounting Policies [Abstract] |
Schedule of Cash and Cash Equivalents | The following tables provide a reconciliation of Cash, Cash Equivalents and Restricted Cash reported within the balance sheets that sum to the total of the same amounts shown on the statement of cash flows:
|  | AEP |  | AEP Texas |  | APCo |  | SWEPCo
|  | Year Ended December 31,
|  | 2024 |  | 2023 |  | 2024 |  | 2023 |  | 2024 |  | 2023 |  | 2024 |  | 2023
|  | (in millions)
Cash and Cash Equivalents |  | $ | 202.9 |  |  | $ | 330.1 |  |  | $ | 0.1 |  |  | $ | 0.1 |  |  | $ | 3.9 |  |  | $ | 5.0 |  |  | $ | 1.2 |  |  | $ | 2.4 |
Restricted Cash |  | 43.1 |  |  | 48.9 |  |  | 23.5 |  |  | 34.0 |  |  | 16.2 |  |  | 14.9 |  |  | 3.4 |  |  | — |
Total Cash, Cash Equivalents and Restricted Cash |  | $ | 246.0 |  |  | $ | 379.0 |  |  | $ | 23.6 |  |  | $ | 34.1 |  |  | $ | 20.1 |  |  | $ | 19.9 |  |  | $ | 4.6 |  |  | $ | 2.4 |
Restrictions on Cash and Cash Equivalents | The following tables provide a reconciliation of Cash, Cash Equivalents and Restricted Cash reported within the balance sheets that sum to the total of the same amounts shown on the statement of cash flows:
|  | AEP |  | AEP Texas |  | APCo |  | SWEPCo
|  | Year Ended December 31,
|  | 2024 |  | 2023 |  | 2024 |  | 2023 |  | 2024 |  | 2023 |  | 2024 |  | 2023
|  | (in millions)
Cash and Cash Equivalents |  | $ | 202.9 |  |  | $ | 330.1 |  |  | $ | 0.1 |  |  | $ | 0.1 |  |  | $ | 3.9 |  |  | $ | 5.0 |  |  | $ | 1.2 |  |  | $ | 2.4 |
Restricted Cash |  | 43.1 |  |  | 48.9 |  |  | 23.5 |  |  | 34.0 |  |  | 16.2 |  |  | 14.9 |  |  | 3.4 |  |  | — |
Total Cash, Cash Equivalents and Restricted Cash |  | $ | 246.0 |  |  | $ | 379.0 |  |  | $ | 23.6 |  |  | $ | 34.1 |  |  | $ | 20.1 |  |  | $ | 19.9 |  |  | $ | 4.6 |  |  | $ | 2.4 |
Significant Customers | AEP Texas had significant customers which account for the following percentages of Total Revenues for the years ended December 31 and Accounts Receivable – Customers as of December 31:
Significant Customers of AEP Texas: |  |  |  |  |  |
NRG Energy and TXU Energy |  | 2024 |  | 2023 |  | 2022
Percentage of Total Revenues |  | 40 | % |  | 41 | % |  | 45 | %
Percentage of Accounts Receivable – Customers |  | 37 | % |  | 34 | % |  | 42 | %
AEPTCo had significant transactions with AEP Subsidiaries which on a combined basis account for the following percentages of Total Revenues for the years ended December 31 and Total Accounts Receivable as of December 31:
Significant Customers of AEPTCo: |  |  |  |  |  |
AEP Subsidiaries |  | 2024 |  | 2023 |  | 2022
Percentage of Total Revenues |  | 80 | % |  | 79 | % |  | 79 | %
Percentage of Total Accounts Receivable |  | 69 | % |  | 60 | % |  | 72 | %
Defined Benefit Plan, Plan Assets, Allocation | The current target asset allocations are as follows:
Pension Plan Assets |  | Target
Equity |  | 35 | %
Fixed Income |  | 49 | %
Other Investments |  | 15 | %
Cash and Cash Equivalents |  | 1 | %
OPEB Plans Assets |  | Target
Equity |  | 67 | %
Fixed Income |  | 32 | %
Cash and Cash Equivalents |  | 1 | %
Schedule of Earnings Per Share, Basic and Diluted | The following table presents AEP’s basic and diluted EPS calculations included on the statements of income:
|  | Years Ended December 31,
|  | 2024 |  | 2023 |  | 2022
|  | (in millions, except per-share data)
|  |  |  | $/share |  |  |  | $/share |  |  |  | $/share
Earnings Attributable to AEP Common Shareholders |  | $ | 2,967.1 |  |  |  |  | $ | 2,208.1 |  |  |  |  | $ | 2,307.2 |  |  |
Weighted-Average Number of Basic AEP Common Shares Outstanding |  | 530.1 |  |  | $ | 5.60 |  |  | 518.9 |  |  | $ | 4.26 |  |  | 511.8 |  |  | $ | 4.51 |
Weighted-Average Dilutive Effect of Stock-Based Awards |  | 1.2 |  |  | (0.02) |  |  | 1.3 |  |  | (0.02) |  |  | 1.7 |  |  | (0.02) |
Weighted-Average Number of Diluted AEP Common Shares Outstanding |  | 531.3 |  |  | $ | 5.58 |  |  | 520.2 |  |  | $ | 4.24 |  |  | 513.5 |  |  | $ | 4.49 |
Supplementary Income Statement Information | The following tables provide the components of Depreciation and Amortization for the years ended December 31, 2024, 2023 and 2022:
2024 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Depreciation and Amortization |  | AEP |  | AEP Texas |  | AEPTCo |  | APCo |  | I&M |  | OPCo |  | PSO |  | SWEPCo
|  | (in millions)
Depreciation and Amortization of Property, Plant and Equipment |  | $ | 3,148.6 |  |  | $ | 405.9 |  |  | $ | 430.9 |  |  | $ | 600.4 |  |  | $ | 456.2 |  |  | $ | 386.0 |  |  | $ | 263.1 |  |  | $ | 375.4 |
Amortization of Certain Securitized Assets |  | 91.3 |  |  | 91.3 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Amortization of Regulatory Assets and Liabilities |  | 50.0 |  |  | (3.7) |  |  | — |  |  | 2.0 |  |  | 24.9 |  |  | — |  |  | 9.1 |  |  | 13.9 |
Total Depreciation and Amortization |  | $ | 3,289.9 |  |  | $ | 493.5 |  |  | $ | 430.9 |  |  | $ | 602.4 |  |  | $ | 481.1 |  |  | $ | 386.0 |  |  | $ | 272.2 |  |  | $ | 389.3 |
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 |
Supplementary Cash Flow Information |
|  | Years Ended December 31,
Cash Flow Information |  | 2024 |  | 2023 |  | 2022
|  | (in millions)
Cash Paid (Received) for: |  |  |  |  |  |
Interest, Net of Capitalized Amounts |  | $ | 1,837.8 |  |  | $ | 1,673.5 |  |  | $ | 1,286.3 |
Income Taxes |  | 133.4 |  |  | 78.4 |  |  | 116.8 |
Sale of Transferable Tax Credits |  | (202.0) |  |  | (102.0) |  |  | — |
Noncash Investing and Financing Activities: |  |  |  |  |  |
Acquisitions Under Finance Leases |  | 29.5 |  |  | 48.7 |  |  | 31.8 |
Construction Expenditures Included in Current Liabilities as of December 31, |  | 1,312.0 |  |  | 842.4 |  |  | 1,258.9 |
Acquisition of Nuclear Fuel Included in Current Liabilities as of December 31, |  | 23.5 |  |  | 24.2 |  |  | — |
Noncash Increase in Noncurrent Assets from the Sale of the Competitive Contracted Renewables Portfolio |  | — |  |  | 74.7 |  |  | — |

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