v3.26.1
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Jun. 30, 2026
Dec. 31, 2025
CURRENT ASSETS    
Cash and Cash Equivalents $ 375 $ 197
Restricted Cash 72 71
Other Temporary Investments 228 220
Accounts Receivable:    
Customers 1,266 1,166
Accrued Unbilled Revenues 360 421
Pledged Accounts Receivable – AEP Credit 1,396 1,272
Miscellaneous 70 60
Allowance for Credit Losses (57) (52)
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 (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
Securitized Assets 2,252 933
Spent Nuclear Fuel and Decommissioning Trusts 5,241 4,916
Goodwill 53 53
Long-term Risk Management Assets 235 265
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
Short-term Debt:    
Securitized Debt for Receivables – AEP Credit 900 900
Other Short-term Debt 1,128 608
Total Short-term Debt 2,028 1,508
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
Long-term Risk Management Liabilities 175 178
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)
Contingently Redeemable Performance Share Awards 64 38
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