v3.26.3
CONDENSED CONSOLIDATED BALANCE SHEETS - I&M - USD ($)
$ in Millions
Sep. 30, 2026
Dec. 31, 2025
CURRENT ASSETS    
Cash and Cash Equivalents $ 418 $ 197
Accounts Receivable:    
Customers 1,421 1,166
Accrued Unbilled Revenues 422 421
Miscellaneous 101 60
Total Accounts Receivable 3,490 2,867
Fuel 506 576
Materials and Supplies 1,287 1,046
Risk Management Assets 588 352
Accrued Tax Benefits 344 85
Prepayments and Other Current Assets 362 212
TOTAL CURRENT ASSETS 7,840 6,052
PROPERTY, PLANT AND EQUIPMENT    
Generation 27,674 28,388
Transmission 44,509 42,557
Distribution 35,251 33,364
Other Property, Plant and Equipment (Including Coal Mining and Nuclear Fuel) 9,843 8,635
Construction Work in Progress 10,907 7,635
Total Property, Plant and Equipment 128,184 120,579
Accumulated Depreciation and Amortization 27,956 28,205
TOTAL PROPERTY, PLANT AND EQUIPMENT – NET 100,228 92,374
OTHER NONCURRENT ASSETS    
Regulatory Assets 4,967 4,804
Spent Nuclear Fuel and Decommissioning Trusts 5,256 4,916
Operating Lease Assets 660 661
Deferred Charges and Other Noncurrent Assets 4,204 4,402
TOTAL OTHER NONCURRENT ASSETS 17,627 16,034
TOTAL ASSETS 125,695 114,460
CURRENT LIABILITIES    
Accounts Payable 3,944 3,429
Long-term Debt Due Within One Year 2,677 3,194
Customer Deposits 770 507
Accrued Taxes 1,363 2,002
Accrued Interest 719 544
Obligations Under Operating Leases 95 100
Other Current Liabilities 3,634 1,898
TOTAL CURRENT LIABILITIES 15,286 13,314
NONCURRENT LIABILITIES    
Long-term Debt 49,864 44,128
Deferred Income Taxes 11,721 10,951
Regulatory Liabilities and Deferred Investment Tax Credits 8,748 8,362
Asset Retirement Obligations 3,669 3,556
Obligations Under Operating Leases 584 578
Deferred Credits and Other Noncurrent Liabilities 1,228 905
TOTAL NONCURRENT LIABILITIES 76,290 68,890
TOTAL LIABILITIES 91,576 82,204
Rate Matters (Note 4)
Commitments, Guarantees and Contingencies (Note 5)
COMMON SHAREHOLDER’S EQUITY    
Common Stock 3,547 3,523
Paid-in Capital 12,520 12,138
Retained Earnings 16,657 15,441
Accumulated Other Comprehensive Income (Loss) 51 36
TOTAL COMMON SHAREHOLDER’S EQUITY 32,775 31,138
TOTAL LIABILITIES AND EQUITY 125,695 114,460
INDIANA MICHIGAN POWER COMPANY    
CURRENT ASSETS    
Cash and Cash Equivalents 2 2
Advances to Affiliates 0 192
Accounts Receivable:    
Customers 104 103
Affiliated Companies 102 90
Accrued Unbilled Revenues 0 17
Miscellaneous 19 2
Total Accounts Receivable 225 212
Fuel 54 61
Materials and Supplies 251 222
Risk Management Assets 26 10
Accrued Tax Benefits 47 32
Prepayments and Other Current Assets 77 53
TOTAL CURRENT ASSETS 682 784
PROPERTY, PLANT AND EQUIPMENT    
Generation 6,353 5,483
Transmission 2,174 2,055
Distribution 4,012 3,823
Other Property, Plant and Equipment (Including Coal Mining and Nuclear Fuel) 1,604 1,058
Construction Work in Progress 701 403
Total Property, Plant and Equipment 14,844 12,822
Accumulated Depreciation and Amortization 5,346 4,878
TOTAL PROPERTY, PLANT AND EQUIPMENT – NET 9,498 7,944
OTHER NONCURRENT ASSETS    
Regulatory Assets 582 585
Spent Nuclear Fuel and Decommissioning Trusts 5,256 4,916
Operating Lease Assets 43 52
Deferred Charges and Other Noncurrent Assets 347 344
TOTAL OTHER NONCURRENT ASSETS 6,228 5,897
TOTAL ASSETS 16,408 14,625
CURRENT LIABILITIES    
Advances from Affiliates 284 0
Long-term Debt Due Within One Year 75 117
Customer Deposits 45 55
Accrued Taxes 58 112
Accrued Interest 40 42
Obligations Under Operating Leases 14 17
Regulatory Liability for Over-Recovered Fuel Costs 155 19
Other Current Liabilities 228 230
TOTAL CURRENT LIABILITIES 1,340 949
NONCURRENT LIABILITIES    
Long-term Debt 4,043 3,444
Deferred Income Taxes 1,249 1,219
Regulatory Liabilities and Deferred Investment Tax Credits 3,346 2,938
Asset Retirement Obligations 2,230 2,165
Obligations Under Operating Leases 30 37
Deferred Credits and Other Noncurrent Liabilities 50 89
TOTAL NONCURRENT LIABILITIES 10,948 9,892
TOTAL LIABILITIES 12,288 10,841
Rate Matters (Note 4)
Commitments, Guarantees and Contingencies (Note 5)
COMMON SHAREHOLDER’S EQUITY    
Common Stock 57 57
Paid-in Capital 1,061 1,033
Retained Earnings 3,000 2,692
Accumulated Other Comprehensive Income (Loss) 2 2
TOTAL COMMON SHAREHOLDER’S EQUITY 4,120 3,784
TOTAL LIABILITIES AND EQUITY 16,408 14,625
INDIANA MICHIGAN POWER COMPANY | Nonrelated Party    
CURRENT LIABILITIES    
Accounts Payable 320 232
INDIANA MICHIGAN POWER COMPANY | Affiliated Entity    
CURRENT LIABILITIES    
Accounts Payable $ 121 $ 125