v3.26.3
CONDENSED CONSOLIDATED BALANCE SHEETS - SWEPCo - USD ($)
$ in Millions
Sep. 30, 2026
Dec. 31, 2025
CURRENT ASSETS    
Cash and Cash Equivalents $ 418 $ 197
Restricted Cash 89 71
Accounts Receivable:    
Customers 1,421 1,166
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
Regulatory Asset for Under-Recovered Fuel Costs 504 426
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 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
Securitized Assets 2,221 933
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
Risk Management Liabilities 209 132
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
Employee Benefits and Pension Obligations 262 232
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)
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
Noncontrolling Interests 1,268 1,080
TOTAL EQUITY 34,043 32,218
TOTAL LIABILITIES AND EQUITY 125,695 114,460
SOUTHWESTERN ELECTRIC POWER COMPANY    
CURRENT ASSETS    
Cash and Cash Equivalents 3 2
Restricted Cash 6 15
Advances to Affiliates 494 23
Accounts Receivable:    
Customers 46 63
Affiliated Companies 84 91
Miscellaneous 15 10
Total Accounts Receivable 145 164
Fuel 75 83
Materials and Supplies 104 88
Risk Management Assets 43 35
Accrued Tax Benefits 149 17
Regulatory Asset for Under-Recovered Fuel Costs 68 115
Prepayments and Other Current Assets 32 14
TOTAL CURRENT ASSETS 1,119 556
PROPERTY, PLANT AND EQUIPMENT    
Generation 6,612 6,621
Transmission 3,437 3,302
Distribution 3,421 3,242
Other Property, Plant and Equipment 947 942
Construction Work in Progress 1,210 712
Total Property, Plant and Equipment 15,627 14,819
Accumulated Depreciation and Amortization 3,580 3,478
TOTAL PROPERTY, PLANT AND EQUIPMENT – NET 12,047 11,341
OTHER NONCURRENT ASSETS    
Regulatory Assets 913 903
Securitized Assets 303 315
Deferred Charges and Other Noncurrent Assets 448 409
TOTAL OTHER NONCURRENT ASSETS 1,664 1,627
TOTAL ASSETS 14,830 13,524
CURRENT LIABILITIES    
Long-term Debt Due Within One Year 417 917
Risk Management Liabilities 10 9
Customer Deposits 78 79
Accrued Taxes 132 68
Accrued Interest 83 49
Obligations Under Operating Leases 4 7
Provision for Refund 90 81
Other Current Liabilities 188 191
TOTAL CURRENT LIABILITIES 1,520 1,885
NONCURRENT LIABILITIES    
Deferred Income Taxes 1,547 1,458
Regulatory Liabilities and Deferred Investment Tax Credits 513 531
Asset Retirement Obligations 226 252
Employee Benefits and Pension Obligations 43 39
Obligations Under Operating Leases 193 195
Provision for Refund 8 47
Storm Reserve 62 108
Deferred Credits and Other Noncurrent Liabilities 64 53
TOTAL NONCURRENT LIABILITIES 7,830 6,740
TOTAL LIABILITIES 9,350 8,625
Rate Matters (Note 4)
Commitments, Guarantees and Contingencies (Note 5)
EQUITY    
Common Stock 0 0
Paid-in Capital 2,397 2,151
Retained Earnings 3,070 2,740
Accumulated Other Comprehensive Income (Loss) 13 8
TOTAL COMMON SHAREHOLDER’S EQUITY 5,480 4,899
Noncontrolling Interests 0 0
TOTAL EQUITY 5,480 4,899
TOTAL LIABILITIES AND EQUITY 14,830 13,524
SOUTHWESTERN ELECTRIC POWER COMPANY | Affiliated Entity    
CURRENT LIABILITIES    
Accounts Payable 34 89
NONCURRENT LIABILITIES    
Long-term Debt 0 1,000
SOUTHWESTERN ELECTRIC POWER COMPANY | Nonrelated Party    
CURRENT LIABILITIES    
Accounts Payable 484 392
Short-term Debt – Nonaffiliated 0 3
NONCURRENT LIABILITIES    
Long-term Debt $ 5,174 $ 3,057