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v3.25.1

BENEFIT PLANS | 3 Months Ended
--- | ---
Mar. 31, 2025
Retirement Benefits [Abstract] |
BENEFIT PLANS | BENEFIT PLANS The disclosures in this note apply to all Registrants except AEPTCo. AEPSC sponsors a qualified pension plan and two unfunded non-qualified pension plans. Substantially all AEP subsidiary employees are covered by the qualified plan or both the qualified and a non-qualified pension plan. AEPSC also sponsors OPEB plans to provide health and life insurance benefits for retired employees. Components of Net Periodic Benefit Cost (Credit) Pension Plans
Three Months Ended March 31, 2025 |  | AEP |  | AEP Texas |  | APCo |  | I&M |  | OPCo |  | PSO |  | SWEPCo
|  | (in millions)
Service Cost |  | $ | 24.0 |  |  | $ | 2.2 |  |  | $ | 2.4 |  |  | $ | 3.2 |  |  | $ | 2.3 |  |  | $ | 1.4 |  |  | $ | 1.9 |
Interest Cost |  | 52.8 |  |  | 4.5 |  |  | 6.2 |  |  | 6.2 |  |  | 4.9 |  |  | 2.7 |  |  | 3.2 |
Expected Return on Plan Assets |  | (70.3) |  |  | (5.6) |  |  | (9.4) |  |  | (9.7) |  |  | (7.3) |  |  | (3.9) |  |  | (3.7) |
Amortization of Net Actuarial Loss |  | 4.1 |  |  | 0.3 |  |  | 0.4 |  |  | 0.4 |  |  | 0.3 |  |  | 0.2 |  |  | 0.2 |
Net Periodic Benefit Cost (Credit) |  | $ | 10.6 |  |  | $ | 1.4 |  |  | $ | (0.4) |  |  | $ | 0.1 |  |  | $ | 0.2 |  |  | $ | 0.4 |  |  | $ | 1.6 |
Three Months Ended March 31, 2024 |  | AEP |  | AEP Texas |  | APCo |  | I&M |  | OPCo |  | PSO |  | SWEPCo
|  | (in millions)
Service Cost |  | $ | 25.6 |  |  | $ | 2.2 |  |  | $ | 2.4 |  |  | $ | 3.3 |  |  | $ | 2.4 |  |  | $ | 1.5 |  |  | $ | 1.9 |
Interest Cost |  | 51.9 |  |  | 4.3 |  |  | 6.2 |  |  | 6.0 |  |  | 4.7 |  |  | 2.5 |  |  | 3.1 |
Expected Return on Plan Assets |  | (80.2) |  |  | (6.4) |  |  | (10.7) |  |  | (10.8) |  |  | (8.2) |  |  | (4.3) |  |  | (4.4) |
Amortization of Net Actuarial Loss |  | 1.1 |  |  | 0.1 |  |  | 0.1 |  |  | 0.1 |  |  | 0.1 |  |  | — |  |  | 0.1 |
Net Periodic Benefit Cost (Credit) |  | $ | (1.6) |  |  | $ | 0.2 |  |  | $ | (2.0) |  |  | $ | (1.4) |  |  | $ | (1.0) |  |  | $ | (0.3) |  |  | $ | 0.7 |
OPEB
Three Months Ended March 31, 2025 |  | AEP |  | AEP Texas |  | APCo |  | I&M |  | OPCo |  | PSO |  | SWEPCo
|  | (in millions)
Service Cost |  | $ | 0.8 |  |  | $ | 0.1 |  |  | $ | 0.1 |  |  | $ | 0.1 |  |  | $ | 0.1 |  |  | $ | — |  |  | $ | 0.1 |
Interest Cost |  | 8.6 |  |  | 0.6 |  |  | 1.4 |  |  | 1.0 |  |  | 0.8 |  |  | 0.4 |  |  | 0.5 |
Expected Return on Plan Assets |  | (28.2) |  |  | (2.3) |  |  | (4.1) |  |  | (3.4) |  |  | (2.9) |  |  | (1.5) |  |  | (1.9) |
Amortization of Prior Service Credit |  | (0.6) |  |  | — |  |  | (0.1) |  |  | (0.1) |  |  | (0.1) |  |  | — |  |  | — |
Amortization of Net Actuarial Gain |  | (0.3) |  |  | — |  |  | (0.1) |  |  | — |  |  | — |  |  | — |  |  | — |
Net Periodic Benefit Credit |  | $ | (19.7) |  |  | $ | (1.6) |  |  | $ | (2.8) |  |  | $ | (2.4) |  |  | $ | (2.1) |  |  | $ | (1.1) |  |  | $ | (1.3) |
Three Months Ended March 31, 2024 |  | AEP |  | AEP Texas |  | APCo |  | I&M |  | OPCo |  | PSO |  | SWEPCo
|  | (in millions)
Service Cost |  | $ | 1.1 |  |  | $ | 0.1 |  |  | $ | 0.1 |  |  | $ | 0.1 |  |  | $ | 0.1 |  |  | $ | 0.1 |  |  | $ | 0.1 |
Interest Cost |  | 10.5 |  |  | 0.8 |  |  | 1.7 |  |  | 1.2 |  |  | 1.1 |  |  | 0.5 |  |  | 0.7 |
Expected Return on Plan Assets |  | (27.8) |  |  | (2.3) |  |  | (4.0) |  |  | (3.4) |  |  | (3.0) |  |  | (1.4) |  |  | (1.9) |
Amortization of Prior Service Credit |  | (3.2) |  |  | (0.3) |  |  | (0.5) |  |  | (0.4) |  |  | (0.3) |  |  | (0.2) |  |  | (0.3) |
Amortization of Net Actuarial Loss |  | 0.8 |  |  | 0.1 |  |  | 0.1 |  |  | 0.1 |  |  | 0.1 |  |  | — |  |  | 0.1 |
Net Periodic Benefit Credit |  | $ | (18.6) |  |  | $ | (1.6) |  |  | $ | (2.6) |  |  | $ | (2.4) |  |  | $ | (2.0) |  |  | $ | (1.0) |  |  | $ | (1.3) |

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