v3.26.3
BENEFIT PLANS
 9 Months Ended
Sep. 30, 2026
Retirement Benefits [Abstract]  
BENEFIT PLANS BENEFIT PLANS
The disclosures in this note apply to all Registrants except AEPTCo.

AEPSC sponsors a qualified pension plan and two unfunded non-qualified pension plans.  Substantially all AEP subsidiary employees are covered by the qualified plan or both the qualified and a non-qualified pension plan.  AEPSC also sponsors OPEB plans to provide health and life insurance benefits for retired employees.

Components of Net Periodic Benefit Cost (Credit)

Pension Plans

Three Months Ended September 30, 2026AEPAEP TexasAPCoI&MOPCoPSOSWEPCo
(in millions)
Service Cost$24 $2 $2 $5 $2 $2 $2 
Interest Cost51 5 6 6 5 3 3 
Expected Return on Plan Assets(63)(5)(9)(10)(8)(4)(4)
Amortization of Net Actuarial Loss11 — 2 1 1 1 1 
Settlements (a)(1)(5)— — 1 1 — 
Net Periodic Benefit Cost (Credit)$22 $(3)$1 $2 $1 $3 $2 

Three Months Ended September 30, 2025AEPAEP TexasAPCoI&MOPCoPSOSWEPCo
(in millions)
Service Cost$24 $3 $2 $4 $2 $2 $2 
Interest Cost53 4 6 6 5 3 3 
Expected Return on Plan Assets(70)(6)(9)(10)(7)(4)(4)
Amortization of Net Actuarial Loss4 — 1 — — — 1 
Net Periodic Benefit Cost$11 $1 $— $— $— $1 $2 

Nine Months Ended September 30, 2026AEPAEP TexasAPCoI&MOPCoPSOSWEPCo
(in millions)
Service Cost$75 $7 $7 $10 $7 $5 $7 
Interest Cost154 13 18 18 14 8 9 
Expected Return on Plan Assets(191)(15)(25)(26)(20)(11)(11)
Amortization of Net Actuarial Loss32 2 4 3 3 2 2 
Settlements (a)(8)(13)— — (5)5 — 
Net Periodic Benefit Cost (Credit)$62 $(6)$4 $5 $(1)$9 $7 

Nine Months Ended September 30, 2025AEPAEP TexasAPCoI&MOPCoPSOSWEPCo
(in millions)
Service Cost$72 $7 $6 $9 $7 $5 $6 
Interest Cost159 13 19 19 14 8 9 
Expected Return on Plan Assets(211)(17)(28)(29)(22)(12)(11)
Amortization of Net Actuarial Loss12 1 2 1 1 1 1 
Net Periodic Benefit Cost (Credit)$32 $4 $(1)$— $— $2 $5 

(a)Represents deferrals of regulatory activity.
OPEB

Three Months Ended September 30, 2026AEPAEP TexasAPCoI&MOPCoPSOSWEPCo
(in millions)
Service Cost$1 $— $— $— $— $— $— 
Interest Cost8 1 1 1 2 — 1 
Expected Return on Plan Assets(29)(2)(4)(4)(4)(2)(2)
Amortization of Prior Service Credit(1)— — — — — — 
Amortization of Net Actuarial Gain(1)— — — — — — 
Net Periodic Benefit Credit$(22)$(1)$(3)$(3)$(2)$(2)$(1)

Three Months Ended September 30, 2025AEPAEP TexasAPCoI&MOPCoPSOSWEPCo
(in millions)
Service Cost$1 $— $— $— $— $— $— 
Interest Cost9 1 1 1 1 1 1 
Expected Return on Plan Assets(29)(2)(4)(3)(3)(2)(2)
Amortization of Prior Service Credit(1)— — — — — — 
Net Periodic Benefit Credit$(20)$(1)$(3)$(2)$(2)$(1)$(1)

Nine Months Ended September 30, 2026AEPAEP TexasAPCoI&MOPCoPSOSWEPCo
(in millions)
Service Cost$3 $— $— $— $— $— $— 
Interest Cost23 2 3 3 2 1 2 
Expected Return on Plan Assets(88)(7)(12)(11)(9)(5)(6)
Amortization of Prior Service Credit(2)— — — — — — 
Amortization of Net Actuarial Gain(2)— — — — — — 
Net Periodic Benefit Credit$(66)$(5)$(9)$(8)$(7)$(4)$(4)

Nine Months Ended September 30, 2025AEPAEP TexasAPCoI&MOPCoPSOSWEPCo
(in millions)
Service Cost$3 $— $— $— $— $— $— 
Interest Cost26 2 4 3 3 1 2 
Expected Return on Plan Assets(85)(7)(13)(10)(9)(4)(6)
Amortization of Prior Service Credit(2)— — — — — — 
Amortization of Net Actuarial Gain(1)— — — — — — 
Net Periodic Benefit Credit$(59)$(5)$(9)$(7)$(6)$(3)$(4)
Qualified Pension Contribution (Applies to all Registrants except AEPTCo and OPCo)

For the qualified pension plan, discretionary contributions may be made to maintain the funded status of the plan. In the second quarter of 2025, AEP made a discretionary contribution to the qualified pension plan. The following table provides details of the contribution by Registrant:

CompanyQualified Pension Plan
(in millions)
AEP$95 
AEP Texas12 
APCo— 
I&M2 
PSO1 
SWEPCo9