SIGNIFICANT ACCOUNTING MATTERS (Tables)

9 Months Ended

Sep. 30, 2026

Schedule of Earnings Per Share, Basic and Diluted

The following table presents AEP’s basic and diluted EPS calculations included on the statements of income:


	Three Months Ended September 30,
	2026				2025
	(in millions, except per share data)
			$/share				$/share
Earnings Attributable to AEP Common Shareholders	$	1,187			$	972

Weighted-Average Number of Basic AEP Common Shares Outstanding	544.4		$	2.18	534.9		$	1.82
Weighted-Average Dilutive Effect	5.7		(0.02)		3.1		(0.01)
Weighted-Average Number of Diluted AEP Common Shares Outstanding	550.1		$	2.16	538.0		$	1.81


	Nine Months Ended September 30,
	2026				2025
	(in millions, except per share data)
			$/share				$/share


Earnings Attributable to AEP Common Shareholders	$	2,774			$	2,998

Weighted-Average Number of Basic AEP Common Shares Outstanding	543.6		$	5.10	534.2		$	5.61
Weighted-Average Dilutive Effect	5.7		(0.05)		2.2		(0.02)
Weighted-Average Number of Diluted AEP Common Shares Outstanding	549.3		$	5.05	536.4		$	5.59

Schedule of Cash and Cash Equivalents

The following tables provide a reconciliation of Cash, Cash Equivalents and Restricted Cash reported within the balance sheets that sum to the total of the same amounts shown on the statements of cash flows:


	September 30, 2026
	AEP		AEP Texas		APCo		SWEPCo
	(in millions)
Cash and Cash Equivalents	$	418	$	—	$	4	$	3
Restricted Cash	89		9		60		6
Total Cash, Cash Equivalents and Restricted Cash	$	507	$	9	$	64	$	9


	December 31, 2025
	AEP		AEP Texas		APCo		SWEPCo
	(in millions)
Cash and Cash Equivalents	$	197	$	—	$	5	$	2
Restricted Cash	71		14		18		15
Total Cash, Cash Equivalents and Restricted Cash	$	268	$	14	$	23	$	17

Schedule of Restrictions on Cash and Cash Equivalents


	September 30, 2026
	AEP		AEP Texas		APCo		SWEPCo
	(in millions)
Cash and Cash Equivalents	$	418	$	—	$	4	$	3
Restricted Cash	89		9		60		6
Total Cash, Cash Equivalents and Restricted Cash	$	507	$	9	$	64	$	9


	December 31, 2025
	AEP		AEP Texas		APCo		SWEPCo
	(in millions)
Cash and Cash Equivalents	$	197	$	—	$	5	$	2
Restricted Cash	71		14		18		15
Total Cash, Cash Equivalents and Restricted Cash	$	268	$	14	$	23	$	17

Schedule of Cash Flow, Supplemental Disclosures


	Nine Months Ended September 30,
Cash Flow Information	2026		2025
	(in millions)
Cash Paid for:
Interest, Net of Capitalized Amounts	$	1,548	$	1,315


Noncash Investing and Financing Activities:

Construction Expenditures Included in Current Liabilities as of September 30,	1,813		1,169
Contribution in Aid of Construction Advances in Current Assets as of September 30,	69		—


Acquisition of Nuclear Fuel Included in Current Liabilities as of September 30,	—		1

The following tables show the amount of income taxes paid or (received) on an interim basis, for each Registrant:


Nine Months Ended September 30, 2026	AEP		AEP Texas		AEPTCo		APCo		I&M		OPCo		PSO		SWEPCo
	(in millions)
Income Taxes Paid/(Received)	$	26	$	(20)	$	124	$	(49)	$	116	$	(21)	$	(32)	$	(34)
Transfer Credits	(63)		—		—		(4)		(50)		—		(6)		(3)
Total Cash Paid/(Received)	$	(37)	$	(20)	$	124	$	(53)	$	66	$	(21)	$	(38)	$	(37)


Nine Months Ended September 30, 2025	AEP		AEP Texas		AEPTCo		APCo		I&M		OPCo		PSO		SWEPCo
	(in millions)
Income Taxes Paid/(Received)	$	60	$	33	$	115	$	76	$	1	$	53	$	(86)	$	(61)
Transfer Credits	(102)		—		—		—		—		—		(48)		(54)
Total Cash Paid/(Received)	$	(42)	$	33	$	115	$	76	$	1	$	53	$	(134)	$	(115)