v3.26.1
CONDENSED CONSOLIDATED BALANCE SHEETS - SWEPCo - USD ($)
$ in Millions
Jun. 30, 2026
Dec. 31, 2025
CURRENT ASSETS    
Cash and Cash Equivalents $ 375 $ 197
Restricted Cash 72 71
Accounts Receivable:    
Customers 1,266 1,166
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
Regulatory Asset for Under-Recovered Fuel Costs 525 426
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 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
Securitized Assets 2,252 933
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
Risk Management Liabilities 152 132
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
Employee Benefits and Pension Obligations 267 232
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)
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
Noncontrolling Interests 1,210 1,080
TOTAL EQUITY 33,289 32,218
TOTAL LIABILITIES AND EQUITY 121,570 114,460
SOUTHWESTERN ELECTRIC POWER COMPANY    
CURRENT ASSETS    
Cash and Cash Equivalents 2 2
Restricted Cash 14 15
Advances to Affiliates 0 23
Accounts Receivable:    
Customers 50 63
Affiliated Companies 116 91
Miscellaneous 11 10
Total Accounts Receivable 177 164
Fuel 91 83
Materials and Supplies 96 88
Risk Management Assets 42 35
Accrued Tax Benefits 110 17
Regulatory Asset for Under-Recovered Fuel Costs 94 115
Prepayments and Other Current Assets 15 14
TOTAL CURRENT ASSETS 641 556
PROPERTY, PLANT AND EQUIPMENT    
Generation 6,650 6,621
Transmission 3,397 3,302
Distribution 3,366 3,242
Other Property, Plant and Equipment 932 942
Construction Work in Progress 1,061 712
Total Property, Plant and Equipment 15,406 14,819
Accumulated Depreciation and Amortization 3,590 3,478
TOTAL PROPERTY, PLANT AND EQUIPMENT – NET 11,816 11,341
OTHER NONCURRENT ASSETS    
Regulatory Assets 955 903
Securitized Assets 307 315
Deferred Charges and Other Noncurrent Assets 465 409
TOTAL OTHER NONCURRENT ASSETS 1,727 1,627
TOTAL ASSETS 14,184 13,524
CURRENT LIABILITIES    
Long-term Debt Due Within One Year 417 917
Risk Management Liabilities 10 9
Customer Deposits 84 79
Accrued Taxes 131 68
Accrued Interest 65 49
Obligations Under Operating Leases 5 7
Provision for Refund 83 81
Other Current Liabilities 173 191
TOTAL CURRENT LIABILITIES 1,819 1,885
NONCURRENT LIABILITIES    
Deferred Income Taxes 1,516 1,458
Regulatory Liabilities and Deferred Investment Tax Credits 507 531
Asset Retirement Obligations 238 252
Employee Benefits and Pension Obligations 42 39
Obligations Under Operating Leases 192 195
Provision for Refund 6 47
Storm Reserve 110 108
Deferred Credits and Other Noncurrent Liabilities 63 53
TOTAL NONCURRENT LIABILITIES 7,115 6,740
TOTAL LIABILITIES 8,934 8,625
Rate Matters (Note 4)
Commitments, Guarantees and Contingencies (Note 5)
EQUITY    
Common Stock 0 0
Paid-in Capital 2,360 2,151
Retained Earnings 2,882 2,740
Accumulated Other Comprehensive Income (Loss) 8 8
TOTAL COMMON SHAREHOLDER’S EQUITY 5,250 4,899
Noncontrolling Interests 0 0
TOTAL EQUITY 5,250 4,899
TOTAL LIABILITIES AND EQUITY 14,184 13,524
SOUTHWESTERN ELECTRIC POWER COMPANY | Nonrelated Party    
CURRENT LIABILITIES    
Advances from Affiliates 3 3
Accounts Payable 457 392
NONCURRENT LIABILITIES    
Long-term Debt 4,441 3,057
SOUTHWESTERN ELECTRIC POWER COMPANY | Affiliated Entity    
CURRENT LIABILITIES    
Advances from Affiliates 311 0
Accounts Payable 80 89
NONCURRENT LIABILITIES    
Long-term Debt $ 0 $ 1,000