v3.26.3
CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - USD ($)
$ in Millions
Total
Common Stock
Paid-in Capital
Retained Earnings
Accumulated Other Comprehensive Income (Loss)
Noncontrolling Interests
Beginning balance (in shares) at Dec. 31, 2024   534,000,000        
Beginning balance at Dec. 31, 2024 $ 26,986 $ 3,472 $ 9,606 $ 13,869 $ (3) $ 42
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Issuance of Common Stock (in shares)   1,000,000        
Issuance of Common Stock 75 $ 7 68      
Common Stock Dividends (501)     (500) [1]   (1)
Other Changes in Equity (22)   (22)      
Net Income 802     800   2
Other Comprehensive Income (Loss) 24       24  
Ending balance (in shares) at Mar. 31, 2025   535,000,000        
Ending balance at Mar. 31, 2025 27,364 $ 3,479 9,652 14,169 21 43
Beginning balance (in shares) at Dec. 31, 2024   534,000,000        
Beginning balance at Dec. 31, 2024 26,986 $ 3,472 9,606 13,869 (3) 42
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net Income 3,091          
Other Comprehensive Income (Loss) (25)       (25)  
Ending balance (in shares) at Sep. 30, 2025   536,000,000        
Ending balance at Sep. 30, 2025 31,479 $ 3,486 11,562 15,369 (28) 1,090
Beginning balance (in shares) at Mar. 31, 2025   535,000,000        
Beginning balance at Mar. 31, 2025 27,364 $ 3,479 9,652 14,169 21 43
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Issuance of Common Stock (in shares)   1,000,000        
Issuance of Common Stock 57 $ 4 53      
Common Stock Dividends (500)     (499) [1]   (1)
Other Changes in Equity 8   8      
Midwest Transmission Holdings NCI Transaction 2,783   1,791     992
Net Income 1,289     1,226   63
Other Comprehensive Income (Loss) (33)       (33)  
Ending balance (in shares) at Jun. 30, 2025   536,000,000        
Ending balance at Jun. 30, 2025 30,968 $ 3,483 11,504 14,896 (12) 1,097
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Issuance of Common Stock 55 $ 3 52      
Capital Contributions from NCI 34         34
Common Stock Dividends (499)     (499) [1]    
Dividends Paid to NCI (69)         (69)
Other Changes in Equity 6   6      
Net Income 1,000     972   28
Other Comprehensive Income (Loss) (16)       (16)  
Ending balance (in shares) at Sep. 30, 2025   536,000,000        
Ending balance at Sep. 30, 2025 $ 31,479 $ 3,486 11,562 15,369 (28) 1,090
Beginning balance (in shares) at Dec. 31, 2025 542,048,288 542,000,000        
Beginning balance at Dec. 31, 2025 $ 32,218 $ 3,523 12,138 15,441 36 1,080
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Issuance of Common Stock (in shares)   3,000,000        
Issuance of Common Stock 358 $ 21 337      
Capital Contributions from NCI 96         96
Common Stock Dividends (520)     (520) [1]    
Dividends Paid to NCI (35)         (35)
Other Changes in Equity (28)   (28)      
Net Income 903     874   29
Other Comprehensive Income (Loss) (14)       (14)  
Ending balance (in shares) at Mar. 31, 2026   545,000,000        
Ending balance at Mar. 31, 2026 $ 32,978 $ 3,544 12,447 15,795 22 1,170
Beginning balance (in shares) at Dec. 31, 2025 542,048,288 542,000,000        
Beginning balance at Dec. 31, 2025 $ 32,218 $ 3,523 12,138 15,441 36 1,080
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net Income 2,868          
Other Comprehensive Income (Loss) $ 15       15  
Ending balance (in shares) at Sep. 30, 2026 545,692,925 546,000,000        
Ending balance at Sep. 30, 2026 $ 34,043 $ 3,547 12,520 16,657 51 1,268
Beginning balance (in shares) at Mar. 31, 2026   545,000,000        
Beginning balance at Mar. 31, 2026 32,978 $ 3,544 12,447 15,795 22 1,170
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Issuance of Common Stock (in shares)   1,000,000        
Issuance of Common Stock 47 $ 2 45      
Capital Contributions from NCI 60         60
Common Stock Dividends (519)     (519) [1]    
Dividends Paid to NCI (54)         (54)
Other Changes in Equity 7   7      
Net Income 747     713   34
Other Comprehensive Income (Loss) 23       23  
Ending balance (in shares) at Jun. 30, 2026   546,000,000        
Ending balance at Jun. 30, 2026 33,289 $ 3,546 12,499 15,989 45 1,210
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Issuance of Common Stock (in shares)   0        
Issuance of Common Stock 12 $ 1 11      
Capital Contributions from NCI 113         113
Common Stock Dividends (519)     (519) [1]    
Dividends Paid to NCI (86)         (86)
Other Changes in Equity 10   10      
Net Income 1,218     1,187   31
Other Comprehensive Income (Loss) $ 6       6  
Ending balance (in shares) at Sep. 30, 2026 545,692,925 546,000,000        
Ending balance at Sep. 30, 2026 $ 34,043 $ 3,547 $ 12,520 $ 16,657 $ 51 $ 1,268
[1] Cash dividends declared per AEP common share were $0.95 and $0.93 in 2026 and 2025, respectively.