v3.26.3
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Sep. 30, 2026
Dec. 31, 2025
CURRENT ASSETS    
Cash and Cash Equivalents $ 418 $ 197
Restricted Cash 89 71
Other Temporary Investments 252 220
Accounts Receivable:    
Customers 1,421 1,166
Accrued Unbilled Revenues 422 421
Pledged Accounts Receivable – AEP Credit 1,600 1,272
Miscellaneous 101 60
Allowance for Credit Losses (54) (52)
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 (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
Securitized Assets 2,221 933
Spent Nuclear Fuel and Decommissioning Trusts 5,256 4,916
Goodwill 53 53
Long-term Risk Management Assets 266 265
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
Short-term Debt:    
Securitized Debt for Receivables – AEP Credit 900 900
Other Short-term Debt 975 608
Total Short-term Debt 1,875 1,508
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
Long-term Risk Management Liabilities 214 178
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)
Contingently Redeemable Performance Share Awards 76 38
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