AMERICAN ELECTRIC POWER CO INC

10-K & 10-Q Filings

American Electric Power Company, Inc. (AEP) is a public utility holding company incorporated under the laws of New York in 1906 and reorganized in 1925. It is headquartered in Columbus, Ohio, and provides electric service, consisting of generation, transmission, and distribution, on an integrated basis to its retail customers in various states, including Arkansas, Indiana, Kentucky, Louisiana, Michigan, Ohio, Oklahoma, Tennessee, Texas, Virginia, and West Virginia. AEP's subsidiaries have contractual, financial, and other business relationships, and they obtain services from AEP Service Corporation (AEPSC). AEP's principal industries served include petroleum and coal products manufacturing, chemical manufacturing, oil and gas extraction, pipeline transportation, primary metal manufacturing, data processing, coal-mining, paper manufacturing, transportation equipment, plastics and rubber products, fabricated metals product manufacturing, food manufacturing, and supply and market electric power at wholesale to other electric utility companies, rural electric cooperatives, municipalities, and other market participants. AEP's principal subsidiaries include AEP Texas, AEP Transmission Holdco, AEP Transmission Company, LLC (AEPTCo), Appalachian Power Company (APCo), Indiana Michigan Power Company (I&M), Ohio Power Company (OPCo), Public Service Company of Oklahoma (PSO), Southwestern Electric Power Company (SWEPCo), and Wheeling Power Company (WPCo). AEPSC is a service company subsidiary that provides accounting, administrative, information systems, engineering, financial, legal, maintenance, and other services at cost to AEP subsidiaries. AEP recognizes revenues from customers for retail and wholesale electricity sales and electricity transmission and distribution delivery services. The company finances its operations using short-term debt, revolving credit agreements, securitization financings, and leasing arrangements. AEP and its subsidiaries are subject to various environmental regulations and zoning requirements. Website: www.aep.com Ticker: AEP Business: AEP is a public utility holding company that owns, directly or indirectly, all of the outstanding common stock of its public utility subsidiaries and varying percentages of other subsidiaries. It provides electric service, consisting of generation, transmission, and distribution, on an integrated basis to its retail customers in various states. Business Strategy: AEP's business strategy is to provide reliable and efficient electric service to its customers while maintaining a strong financial position and complying with environmental regulations. Business Segments: AEP's business segments include Transmission and Distribution Utilities, Vertically Integrated Utilities, and AEP Transmission Holdco. Transmission and Distribution Utilities: AEP Texas, Indiana Michigan Power Company, Ohio Power Company, Public Service Company of Oklahoma, Southwestern Electric Power Company, and Wheeling Power Company. Vertically Integrated Utilities: Appalachian Power Company and AEP Transmission Company, LLC. AEP Transmission Holdco: A holding company for the State Transcos. Generation & Marketing: Not applicable to AEP. Note: The text above includes forward-looking statements, risks, and policies, which have been omitted from this summary.

12 mos ending Dec 31, 201112 mos ending Dec 31, 201212 mos ending Dec 31, 201312 mos ending Dec 31, 201412 mos ending Dec 31, 201512 mos ending Dec 31, 201612 mos ending Dec 31, 201712 mos ending Dec 31, 201812 mos ending Dec 31, 201912 mos ending Dec 31, 202012 mos ending Dec 31, 202112 mos ending Dec 31, 202212 mos ending Dec 31, 20233 mos ending Mar 31, 20233 mos ending Mar 31, 2024CAGR %YoY %Revenue (+)
$15116.00
14945.00
15357.00
17020.00
16453.20
16380.10
15424.90
16195.70
15561.40
14918.50
16792.00
19639.50
18982.30
4690.90
5025.70
1.92%7.14%Cost of Revenue (-)
$
5786.50
5106.10
4369.70
5466.30
7097.90
6578.30
1706.40
1575.80
-7.65%Gross Profit (+)
$9504.00
9665.00
9798.00
10662.00
10345.00
10649.80
10113.10
10409.20
10455.30
10548.80
11325.70
12541.60
12404.00
2984.50
3449.90
2.24%15.59%Selling, General & Administrative (-)
$824.00
850.00
891.00
915.00
972.60
1018.00
1059.40
1142.70
1234.50
1295.50
1407.60
1469.80
1492.30
394.90
410.40
5.07%3.93%Non-recurring Operating Expenses (-)
$139.00
300.00
226.00
2267.80
87.10
70.60
156.40
11.60
48.80
85.60
112.00
-3.96%Operating Expenses (-)
$12334.00
12289.00
12502.00
13788.00
13119.70
15173.00
11854.40
7726.50
7863.00
7561.10
7914.40
9058.90
8847.80
2279.70
2277.30
-2.73%-0.11%Costs & Expenses (Total) (-)
$12334.00
12289.00
12502.00
13788.00
13119.70
15173.00
11854.40
13513.00
12969.10
11930.80
13380.70
16156.80
15426.10
3986.10
3853.10
1.88%-3.34%Operating Income/Loss (+)
$2782.00
2656.00
2855.00
3232.00
3333.50
1207.10
3570.50
2682.70
2592.30
2987.70
3411.30
3482.70
3556.20
704.80
1172.60
2.07%66.37%Non-operating Income/Expense (+)
$561.80
208.55
234.41
249.76
246.80
235.50
238.10
365.70
403.90
425.40
409.00
259.10
550.70
130.70
134.20
-0.17%2.68%Interest Expense (-)
$933.00
988.00
906.00
885.00
873.90
877.20
895.00
984.40
1072.50
1165.70
1199.10
1396.10
1806.90
415.70
435.60
5.66%4.79%Earnings before Tax (+)
$2367.00
1822.00
2110.00
2490.00
2622.90
475.60
2816.20
1973.50
1834.80
2146.10
2511.90
2420.40
2208.70
390.60
839.30
-0.58%114.87%Tax Expense (-)
$818.00
604.00
684.00
942.00
919.60
-73.70
969.70
115.30
-12.90
40.50
115.50
239.30
54.60
10.40
-141.90
-20.19%-1464.42%Income/Loss (Continuing Operations) (+)
$1549.00
1218.00
1426.00
1548.00
1768.60
620.50
1928.90
1931.30
1847.70
2105.60
2396.40
2181.10
2154.10
380.20
981.20
2.79%158.07%Income/Loss (Discontinued Operations) (+)
$
283.70
-2.50
Profit/Loss (+)
$1949.00
1262.00
1484.00
1638.00
2052.30
618.00
1928.90
1931.30
1919.80
2196.70
2488.10
2305.60
2212.60
400.40
1005.70
1.06%151.17%Net Income/Loss (NCI) (-)
$3.00
3.00
4.00
4.00
5.20
7.10
16.30
7.50
-1.30
-3.40
-1.60
4.50
3.40
2.60
3.44%-23.53%Net Income/Loss (+)
$1946.00
1259.00
1480.00
1634.00
2047.10
610.90
1912.60
1923.80
1921.10
2200.10
2488.10
2307.20
2208.10
397.00
1003.10
1.06%152.67%Preferred & Other Distributions (-)
$5.00
Net Income/Loss (Common) (+)
$1941.00
1259.00
1480.00
1634.00
2047.10
610.90
1912.60
1923.80
1921.10
2200.10
2488.10
2307.20
2208.10
397.00
1003.10
1.08%152.67%EPS (Basic)
$4.02
2.60
3.04
3.34
4.17
1.24
3.89
3.90
3.89
4.44
4.97
4.51
4.26
0.77
1.91
0.48%148.05%EPS (Diluted)
$4.02
2.60
3.04
3.34
4.17
1.24
3.88
3.90
3.88
4.42
4.96
4.49
4.24
0.77
1.90
0.44%146.75%Weighted Avg Shares (Basic)
482.17
484.68
486.62
488.59
490.34
491.50
491.81
492.77
493.70
495.72
500.52
511.84
518.90
514.20
526.60
0.61%2.41%Weighted Avg Shares (Diluted)
482.46
485.08
487.04
488.90
490.57
491.66
492.61
493.76
495.31
497.23
501.80
513.50
520.21
515.60
527.60
0.63%2.33%Cash
$221.00
279.00
118.00
207.29
218.90
253.50
412.60
444.10
432.60
438.30
451.40
556.50
379.00
393.50
281.80
4.60%-28.39%Short-term Investments
$294.00
324.00
353.00
386.00
386.80
331.70
161.70
159.10
202.70
200.80
220.40
187.50
214.30
194.60
217.00
-2.60%11.51%Receivables
$1834.00
1871.00
1860.00
1926.00
1640.50
1916.70
1891.00
1926.50
1705.10
1842.70
1941.60
2570.30
2447.40
2303.80
2415.30
2.43%4.84%Inventory
$1292.00
1519.00
Prepaid Expenses (Current)
$165.00
241.00
246.00
278.00
172.40
325.50
Other Assets (Current)
$376.00
355.00
1733.00
1680.71
1653.80
3206.50
1787.80
1584.20
1737.40
1869.70
5195.80
6104.40
3041.40
4906.30
2920.80
19.03%-40.47%Assets (Current)
$4182.00
4589.00
4310.00
4478.00
4072.40
6033.90
4253.10
4113.90
4077.80
4351.50
7809.20
9418.70
6082.10
7798.20
5849.60
3.17%-24.99%Property, Plant & Equipment (Net)
$36971.00
38763.00
40997.00
44117.00
46133.20
45639.30
50261.50
55099.10
60138.10
63901.60
66001.30
71282.90
76693.40
73347.00
77796.00
6.27%6.07%Accumulated Depreciation
$18699.00
18691.00
19288.00
20188.00
19348.20
16397.30
17167.00
17986.10
19007.60
20411.40
20805.10
22511.10
24553.00
23361.10
25036.80
2.30%7.17%Goodwill & Intangibles
$76.00
91.00
91.00
91.00
52.50
52.50
52.50
52.50
52.50
52.50
52.50
52.50
52.50
52.50
52.50
-3.04%0.00%Other Assets
$10994.00
10924.00
11156.87
10998.58
11467.90
11784.70
10352.10
9876.20
10988.30
12097.40
13982.20
12639.00
13762.30
13146.80
13939.50
1.89%6.03%Assets (Non-current)
$48041.00
49778.00
52104.00
55155.00
57610.70
57433.80
60476.00
64688.90
71814.50
76405.70
79859.50
84050.70
90601.90
86719.70
91895.00
5.43%5.97%Assets (Total)
$52223.00
54367.00
56414.00
59633.00
61683.10
63467.70
64729.10
68802.80
75892.30
80757.20
87668.70
93469.40
96684.00
94517.90
97744.60
5.27%3.41%Accounts Payable
$2091.00
2185.00
2333.00
2397.00
2624.00
2963.70
3415.30
3324.00
3687.20
3453.70
3914.20
4613.40
4242.80
4309.70
4173.80
6.07%-3.15%Debt (Current)
$1650.00
981.00
757.00
1346.00
800.00
1713.00
1638.60
1910.00
2838.30
2479.30
2614.00
4112.20
2830.20
3622.10
3737.60
4.60%3.19%Other Liabilities (Current)
$2870.00
3657.00
3022.00
4224.00
3684.50
4821.30
3217.40
3414.80
3773.60
3993.70
5898.50
5841.80
4510.60
4689.90
2995.20
3.84%-36.14%Liabilities (Current)
$6611.00
6823.00
6112.00
7967.00
7108.50
9498.00
8271.30
8648.80
10299.10
9926.70
12426.70
14567.40
11583.60
12621.70
10906.60
4.78%-13.59%Debt (Non-current)
$15467.00
15961.00
17256.00
16622.00
17988.20
17620.50
19658.40
21881.70
25861.40
28986.40
31300.70
33626.20
37652.70
36239.10
38637.30
7.70%6.62%Other Liabilities
$15480.00
16346.00
16960.00
18220.00
18928.80
19171.20
18764.70
19359.70
19710.00
21024.40
21217.80
21107.50
22119.30
21632.70
22305.40
3.02%3.11%Liabilities (Non-current)
$30947.00
32307.00
34216.00
34842.00
36669.70
36549.60
38132.30
40985.80
45571.40
50010.80
52518.50
54733.70
59772.00
57871.80
60942.70
5.64%5.31%Liabilities (Total)
$37558.00
39130.00
40328.00
42809.00
43778.20
46047.60
46403.60
49634.60
55870.50
59937.50
64945.20
69301.10
71355.60
70493.50
71849.30
5.49%1.92%Retained Earnings
$5890.00
6236.00
6766.00
7406.00
8398.30
7892.40
8626.70
9325.30
9900.90
10687.80
11667.10
12345.60
12800.40
12313.80
13338.00
6.68%8.32%AOCI
$-470.00
-337.00
-115.00
-103.00
-127.10
-156.30
-67.80
-120.40
-147.70
-85.10
184.80
83.70
-55.50
-68.10
-62.30
8.52%Shareholder's Equity
$14665.00
15237.00
16086.00
16824.00
17904.90
17420.10
18313.60
19059.40
19913.20
20774.50
22680.20
24122.40
25285.90
23967.80
25843.70
4.64%7.83%Liabilities & Equity
$52223.00
54367.00
56414.00
59633.00
61683.10
63467.70
64729.10
68802.80
75892.30
80757.20
87668.70
93469.40
96684.00
94517.90
97744.60
5.27%3.41%Net Income/Loss
$1949.00
1262.00
1484.00
1638.00
2052.30
618.00
1928.90
1931.30
1919.80
2196.70
2488.10
2305.60
2212.60
400.40
1005.70
1.06%151.17%Depreciation & Amortization
$-15.00
-19.00
-35.00
-42.00
-52.40
-19.00
-29.50
-59.10
-73.80
-43.30
-68.00
-41.20
-41.10
-101.60
-89.20
12.20%Increase/Decrease in Working Capital
$-642.48
365.68
-98.50
-723.49
-242.70
362.40
140.70
-756.80
485.40
427.20
252.20
-1283.90
1963.50
1167.90
153.00
-86.90%Share-based Compensation
$-450.00
-200.00
9.00
-58.60
-63.20
Adjustments to Reconcile Net Income
$1839.00
2542.00
2638.32
2975.00
2696.40
3891.10
1522.20
2053.60
2350.30
1636.20
1351.80
2982.40
2799.60
317.40
436.50
3.56%37.52%Net Cash (Operating)
$3788.00
3804.00
4106.00
4613.00
4748.70
4521.80
3451.10
3984.90
4270.10
3832.90
3839.90
5288.00
5012.20
717.80
1442.20
2.36%100.92%Capital Expenditure
$2780.46
3101.00
3635.00
4193.00
4510.00
4889.00
5685.50
6324.10
6969.60
6247.90
4257.50
7557.50
8881.80
2381.80
1647.70
10.16%-30.82%Net Cash (Investing)
$-2890.00
-3391.00
-3818.00
-4406.00
-4564.00
-4989.10
-4201.80
-4406.90
-7144.50
-6233.90
-6433.90
-7751.80
-6266.70
-2245.20
-1669.30
25.65%Increase/Decrease in Debt
$-104.00
473.00
103.00
756.00
307.70
1606.40
624.50
2370.00
4173.40
3865.60
3567.70
3493.00
1916.40
1810.90
588.10
-67.52%Increase/Decrease in Equity
$28.00
83.00
84.00
73.00
81.60
34.20
12.20
73.60
65.30
155.00
600.50
826.50
999.60
41.10
40.60
34.71%-1.22%Interest Expenses
$900.00
931.00
882.00
838.00
857.20
848.50
858.30
939.30
1022.50
1029.10
1137.20
1286.30
1673.50
311.90
368.30
5.30%18.08%Dividends Paid
$900.00
916.00
954.00
998.00
1059.00
1121.00
1200.00
1255.50
1350.00
1424.90
1519.50
1645.20
-1760.40
431.80
466.90
8.13%Net Cash (Financing)
$-971.00
-355.00
-449.00
-162.00
-661.70
503.90
742.30
459.80
2862.90
2406.70
2607.10
2568.90
1077.00
1364.40
129.90
-90.48%Cash Taxes Paid
$-118.00
-82.00
-55.00
117.00
120.20
29.50
-294.80
-24.70
6.10
-49.10
13.20
116.80
78.40
15.80
16.10
1.90%Increase/Decrease in Cash
$-73.00
58.00
-161.00
45.00
13.90
34.10
0.60
55.90
-35.30
-109.70
47.80
105.10
-177.50
-163.20
-97.20
40.44%Cash (Beginning)
$294.00
221.00
279.00
118.00
162.50
176.40
614.00
420.70
678.20
679.40
831.00
854.80
1065.90
1065.90
709.10
11.33%-33.47%Cash (Ending)
$221.00
279.00
118.00
163.00
176.40
210.50
627.20
678.20
679.40
831.00
854.80
1065.90
709.10
737.00
512.50
10.20%-30.46%NOPAT
$1820.58
1775.53
1929.49
3080.13
3180.74
1394.15
2341.07
2525.97
2610.53
3044.08
3393.37
3314.64
3429.97
733.31
1370.85
5.42%86.94%Gross Margin %
62.87%
64.67%
63.80%
62.64%
62.88%
65.02%
65.56%
64.27%
67.19%
70.71%
67.45%
63.86%
65.35%
63.62%
68.65%
Operating Margin %
18.40%
17.77%
18.59%
18.99%
20.26%
7.37%
23.15%
16.56%
16.66%
20.03%
20.32%
17.73%
18.73%
15.02%
23.33%
NOPAT Margin %
12.04%
11.88%
12.56%
18.10%
19.33%
8.51%
15.18%
15.60%
16.78%
20.40%
20.21%
16.88%
18.07%
15.63%
27.28%
Net Margin %
12.87%
8.42%
9.64%
9.60%
12.44%
3.73%
12.40%
11.88%
12.35%
14.75%
14.82%
11.75%
11.63%
8.46%
19.96%
Tax Rate %
34.56%
33.15%
32.42%
4.70%
4.58%
-15.50%
34.43%
5.84%
-0.70%
-1.89%
0.53%
4.83%
3.55%
-4.05%
-16.91%
ROA
3.49%
3.27%
3.42%
5.17%
5.16%
2.20%
3.62%
3.67%
3.44%
3.77%
3.87%
3.55%
3.55%
0.78%
1.40%
ROE
12.41%
11.65%
11.99%
18.31%
17.76%
8.00%
12.78%
13.25%
13.11%
14.65%
14.96%
13.74%
13.56%
3.06%
5.30%
ROIC
4.92%
4.58%
4.89%
7.31%
7.27%
3.26%
4.92%
4.81%
4.60%
5.01%
5.51%
4.95%
4.69%
1.06%
1.83%
Asset Turnover
0.29
0.27
0.27
0.29
0.27
0.26
0.24
0.24
0.21
0.18
0.19
0.21
0.20
0.05
0.05
Inventory Turnover
Equity Multiplier
3.56
3.57
3.51
3.54
3.45
3.64
3.53
3.61
3.81
3.89
3.87
3.87
3.82
3.94
3.78
Current Ratio
0.63
0.67
0.71
0.56
0.57
0.64
0.51
0.48
0.40
0.44
0.63
0.65
0.53
0.62
0.53
Quick Ratio
0.36
0.36
0.38
0.32
0.32
0.26
0.30
0.29
0.23
0.25
0.21
0.23
0.26
0.23
0.27
Debt/Equity Ratio
1.17
1.11
1.12
1.07
1.05
1.11
1.16
1.25
1.44
1.51
1.50
1.56
1.60
1.66
1.64
Interest Coverage Ratio
3.09
2.85
3.24
3.86
3.89
1.42
4.16
2.86
2.54
2.90
3.00
2.71
2.13
2.26
3.18
Working Capital/Sales
-0.00
-0.01
-0.11
-0.12
-0.15
-0.18
-0.18
-0.16
-0.22
-0.21
-0.27
-0.22
-0.19
-0.84
-0.59
Dividend Payout Ratio %
49.43%
51.59%
49.44%
32.40%
33.29%
80.41%
51.26%
49.70%
51.71%
46.81%
44.78%
49.63%
-51.32%
58.88%
34.06%
Total Payout
$1876.00
1291.00
1649.00
1007.00
1526.90
328.90
1421.60
-248.80
-1866.20
-1566.60
-1511.50
-1388.00
-3002.90
-1108.30
206.50
118.63%Payout Ratio %
103.04%
72.71%
85.46%
32.69%
48.00%
23.59%
60.72%
-9.85%
-71.49%
-51.46%
-44.54%
-41.87%
-87.55%
-151.14%
15.06%