v3.26.1
CONDENSED CONSOLIDATED BALANCE SHEETS - I&M - USD ($)
$ in Millions
Jun. 30, 2026
Dec. 31, 2025
CURRENT ASSETS    
Cash and Cash Equivalents $ 375 $ 197
Accounts Receivable:    
Customers 1,266 1,166
Accrued Unbilled Revenues 360 421
Miscellaneous 70 60
Total Accounts Receivable 3,035 2,867
Fuel 606 576
Materials and Supplies 1,183 1,046
Risk Management Assets 533 352
Accrued Tax Benefits 278 85
Prepayments and Other Current Assets 299 212
TOTAL CURRENT ASSETS 7,134 6,052
PROPERTY, PLANT AND EQUIPMENT    
Generation 26,707 28,388
Transmission 43,764 42,557
Distribution 34,626 33,364
Other Property, Plant and Equipment (Including Coal Mining and Nuclear Fuel) 9,406 8,635
Construction Work in Progress 9,696 7,635
Total Property, Plant and Equipment 124,199 120,579
Accumulated Depreciation and Amortization 27,526 28,205
TOTAL PROPERTY, PLANT AND EQUIPMENT – NET 96,673 92,374
OTHER NONCURRENT ASSETS    
Regulatory Assets 5,021 4,804
Spent Nuclear Fuel and Decommissioning Trusts 5,241 4,916
Operating Lease Assets 642 661
Deferred Charges and Other Noncurrent Assets 4,319 4,402
TOTAL OTHER NONCURRENT ASSETS 17,763 16,034
TOTAL ASSETS 121,570 114,460
CURRENT LIABILITIES    
Accounts Payable 3,969 3,429
Long-term Debt Due Within One Year 2,821 3,194
Customer Deposits 515 507
Accrued Taxes 1,799 2,002
Accrued Interest 590 544
Obligations Under Operating Leases 94 100
Other Current Liabilities 2,187 1,898
TOTAL CURRENT LIABILITIES 14,155 13,314
NONCURRENT LIABILITIES    
Long-term Debt 47,987 44,128
Deferred Income Taxes 11,485 10,951
Regulatory Liabilities and Deferred Investment Tax Credits 8,622 8,362
Asset Retirement Obligations 3,645 3,556
Obligations Under Operating Leases 568 578
Deferred Credits and Other Noncurrent Liabilities 1,313 905
TOTAL NONCURRENT LIABILITIES 74,062 68,890
TOTAL LIABILITIES 88,217 82,204
Rate Matters (Note 4)
Commitments, Guarantees and Contingencies (Note 5)
COMMON SHAREHOLDER’S EQUITY    
Common Stock 3,546 3,523
Paid-in Capital 12,499 12,138
Retained Earnings 15,989 15,441
Accumulated Other Comprehensive Income (Loss) 45 36
TOTAL COMMON SHAREHOLDER’S EQUITY 32,079 31,138
TOTAL LIABILITIES AND EQUITY 121,570 114,460
INDIANA MICHIGAN POWER COMPANY    
CURRENT ASSETS    
Cash and Cash Equivalents 2 2
Advances to Affiliates 63 192
Accounts Receivable:    
Customers 110 103
Affiliated Companies 87 90
Accrued Unbilled Revenues 0 17
Miscellaneous 14 2
Total Accounts Receivable 211 212
Fuel 65 61
Materials and Supplies 241 222
Risk Management Assets 22 10
Accrued Tax Benefits 31 32
Prepayments and Other Current Assets 82 53
TOTAL CURRENT ASSETS 717 784
PROPERTY, PLANT AND EQUIPMENT    
Generation 6,212 5,483
Transmission 2,155 2,055
Distribution 3,950 3,823
Other Property, Plant and Equipment (Including Coal Mining and Nuclear Fuel) 1,389 1,058
Construction Work in Progress 541 403
Total Property, Plant and Equipment 14,247 12,822
Accumulated Depreciation and Amortization 5,207 4,878
TOTAL PROPERTY, PLANT AND EQUIPMENT – NET 9,040 7,944
OTHER NONCURRENT ASSETS    
Regulatory Assets 553 585
Spent Nuclear Fuel and Decommissioning Trusts 5,241 4,916
Operating Lease Assets 46 52
Deferred Charges and Other Noncurrent Assets 344 344
TOTAL OTHER NONCURRENT ASSETS 6,184 5,897
TOTAL ASSETS 15,941 14,625
CURRENT LIABILITIES    
Long-term Debt Due Within One Year 91 117
Customer Deposits 56 55
Accrued Taxes 98 112
Accrued Interest 55 42
Obligations Under Operating Leases 15 17
Regulatory Liability for Over-Recovered Fuel Costs 97 19
Other Current Liabilities 217 230
TOTAL CURRENT LIABILITIES 1,043 949
NONCURRENT LIABILITIES    
Long-term Debt 4,055 3,444
Deferred Income Taxes 1,216 1,219
Regulatory Liabilities and Deferred Investment Tax Credits 3,317 2,938
Asset Retirement Obligations 2,208 2,165
Obligations Under Operating Leases 32 37
Deferred Credits and Other Noncurrent Liabilities 66 89
TOTAL NONCURRENT LIABILITIES 10,894 9,892
TOTAL LIABILITIES 11,937 10,841
Rate Matters (Note 4)
Commitments, Guarantees and Contingencies (Note 5)
COMMON SHAREHOLDER’S EQUITY    
Common Stock 57 57
Paid-in Capital 1,058 1,033
Retained Earnings 2,887 2,692
Accumulated Other Comprehensive Income (Loss) 2 2
TOTAL COMMON SHAREHOLDER’S EQUITY 4,004 3,784
TOTAL LIABILITIES AND EQUITY 15,941 14,625
INDIANA MICHIGAN POWER COMPANY | Nonrelated Party    
CURRENT LIABILITIES    
Accounts Payable 304 232
INDIANA MICHIGAN POWER COMPANY | Affiliated Entity    
CURRENT LIABILITIES    
Accounts Payable $ 110 $ 125