Benefit Plans (Tables)
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12 Months Ended |
Dec. 31, 2023 |
Dec. 31, 2022 |
| Health Care Trend Rates |
| | | | | | | | | | | | | | | | Health Care Trend Rates | | December 31, 2023 | | December 31, 2022 | | Initial | | 7.00 | % | | 7.50 | % | | Ultimate | | 4.50 | % | | 4.50 | % | | Year Ultimate Reached | | 2030 | | 2029 |
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| Reconciliation of Changes in Benefit Obligations and Fair Value of Assets |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 2023 | | AEP | | AEP Texas | | APCo | | I&M | | OPCo | | PSO | | SWEPCo | | Change in Benefit Obligation | | (in millions) | | Benefit Obligation as of January 1, | | $ | 4,072.7 | | | $ | 334.1 | | | $ | 485.7 | | | $ | 466.8 | | | $ | 363.6 | | | $ | 192.3 | | | $ | 250.7 | | | Service Cost | | 94.3 | | | 8.2 | | | 9.1 | | | 11.9 | | | 8.4 | | | 5.5 | | | 7.7 | | | Interest Cost | | 219.2 | | | 18.3 | | | 26.4 | | | 24.9 | | | 19.8 | | | 10.7 | | | 13.9 | | | Actuarial Loss | | 144.0 | | | 20.1 | | | 23.2 | | | 8.5 | | | 17.5 | | | 13.6 | | | 16.8 | | | | | | | | | | | | | | | | | | Benefit Payments | | (368.6) | | | (37.6) | | | (40.3) | | | (35.1) | | | (30.9) | | | (19.9) | | | (27.9) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Benefit Obligation as of December 31, | | $ | 4,161.6 | | | $ | 343.1 | | | $ | 504.1 | | | $ | 477.0 | | | $ | 378.4 | | | $ | 202.2 | | | $ | 261.2 | | | | | | | | | | | | | | | | | | Change in Fair Value of Plan Assets | | | | | | | | | | | | | | | | Fair Value of Plan Assets as of January 1, | | $ | 4,124.7 | | | $ | 335.1 | | | $ | 531.7 | | | $ | 533.7 | | | $ | 406.4 | | | $ | 218.5 | | | $ | 231.3 | | | Actual Gain on Plan Assets | | 353.8 | | | 34.8 | | | 58.4 | | | 51.5 | | | 44.0 | | | 24.0 | | | 23.9 | | | Company Contributions (a) | | 8.3 | | | 0.4 | | | — | | | 0.5 | | | — | | | 0.1 | | | 0.2 | | | | | | | | | | | | | | | | | | Benefit Payments | | (368.6) | | | (37.6) | | | (40.3) | | | (35.1) | | | (30.9) | | | (19.9) | | | (27.9) | | | Fair Value of Plan Assets as of December 31, | | $ | 4,118.2 | | | $ | 332.7 | | | $ | 549.8 | | | $ | 550.6 | | | $ | 419.5 | | | $ | 222.7 | | | $ | 227.5 | | | | | | | | | | | | | | | | | | Funded (Underfunded) Status as of December 31, | | $ | (43.4) | | | $ | (10.4) | | | $ | 45.7 | | | $ | 73.6 | | | $ | 41.1 | | | $ | 20.5 | | | $ | (33.7) | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 2022 | | AEP | | AEP Texas | | APCo | | I&M | | OPCo | | PSO | | SWEPCo | | Change in Benefit Obligation | | (in millions) | | Benefit Obligation as of January 1, | | $ | 5,187.0 | | | $ | 419.8 | | | $ | 621.7 | | | $ | 612.1 | | | $ | 470.7 | | | $ | 252.6 | | | $ | 317.7 | | | Service Cost | | 123.1 | | | 11.1 | | | 11.4 | | | 16.2 | | | 11.2 | | | 7.4 | | | 10.6 | | | Interest Cost | | 148.2 | | | 12.1 | | | 17.5 | | | 17.0 | | | 13.3 | | | 7.0 | | | 9.1 | | | Actuarial Gain | | (983.4) | | | (67.8) | | | (123.1) | | | (138.0) | | | (97.9) | | | (52.9) | | | (57.9) | | | | | | | | | | | | | | | | | | Benefit Payments | | (402.2) | | | (41.1) | | | (41.8) | | | (40.5) | | | (33.7) | | | (21.8) | | | (28.8) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Benefit Obligation as of December 31, | | $ | 4,072.7 | | | $ | 334.1 | | | $ | 485.7 | | | $ | 466.8 | | | $ | 363.6 | | | $ | 192.3 | | | $ | 250.7 | | | | | | | | | | | | | | | | | | Change in Fair Value of Plan Assets | | | | | | | | | | | | | | | | Fair Value of Plan Assets as of January 1, | | $ | 5,352.9 | | | $ | 444.9 | | | $ | 683.3 | | | $ | 681.5 | | | $ | 524.8 | | | $ | 286.2 | | | $ | 308.3 | | | Actual (Loss) on Plan Assets | | (833.7) | | | (69.2) | | | (109.8) | | | (107.4) | | | (84.8) | | | (46.0) | | | (48.3) | | | Company Contributions (a) | | 7.7 | | | 0.5 | | | — | | | 0.1 | | | 0.1 | | | 0.1 | | | 0.1 | | | | | | | | | | | | | | | | | | Benefit Payments | | (402.2) | | | (41.1) | | | (41.8) | | | (40.5) | | | (33.7) | | | (21.8) | | | (28.8) | | | Fair Value of Plan Assets as of December 31, | | $ | 4,124.7 | | | $ | 335.1 | | | $ | 531.7 | | | $ | 533.7 | | | $ | 406.4 | | | $ | 218.5 | | | $ | 231.3 | | | | | | | | | | | | | | | | | | Funded (Underfunded) Status as of December 31, | | $ | 52.0 | | | $ | 1.0 | | | $ | 46.0 | | | $ | 66.9 | | | $ | 42.8 | | | $ | 26.2 | | | $ | (19.4) | |
(a)No contributions were made to the qualified pension plan for the years ended December 31, 2023 and 2022, respectively. Contributions to the non-qualified pension plans were $8 million and $8 million for the years ended December 31, 2023 and 2022, respectively. OPEB
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 2023 | | AEP | | AEP Texas | | APCo | | I&M | | OPCo | | PSO | | SWEPCo | | Change in Benefit Obligation | | (in millions) | | Benefit Obligation as of January 1, | | $ | 872.6 | | | $ | 68.6 | | | $ | 140.7 | | | $ | 101.9 | | | $ | 88.9 | | | $ | 45.7 | | | $ | 55.1 | | | Service Cost | | 4.6 | | | 0.3 | | | 0.5 | | | 0.6 | | | 0.4 | | | 0.3 | | | 0.4 | | | Interest Cost | | 46.2 | | | 3.6 | | | 7.4 | | | 5.4 | | | 4.7 | | | 2.4 | | | 2.9 | | | Actuarial Loss | | 19.8 | | | 1.2 | | | 0.9 | | | 3.2 | | | 2.2 | | | 0.4 | | | 1.2 | | | | | | | | | | | | | | | | | | Benefit Payments | | (137.8) | | | (10.7) | | | (21.6) | | | (18.3) | | | (15.0) | | | (7.6) | | | (8.8) | | | Participant Contributions | | 43.6 | | | 3.4 | | | 6.6 | | | 6.0 | | | 4.7 | | | 2.5 | | | 2.9 | | | Medicare Subsidy | | 0.5 | | | — | | | 0.1 | | | — | | | — | | | — | | | — | | | Benefit Obligation as of December 31, | | $ | 849.5 | | | $ | 66.4 | | | $ | 134.6 | | | $ | 98.8 | | | $ | 85.9 | | | $ | 43.7 | | | $ | 53.7 | | | | | | | | | | | | | | | | | | Change in Fair Value of Plan Assets | | | | | | | | | | | | | | | | Fair Value of Plan Assets as of January 1, | | $ | 1,549.3 | | | $ | 128.3 | | | $ | 228.6 | | | $ | 190.5 | | | $ | 166.2 | | | $ | 85.4 | | | $ | 103.0 | | | Actual Gain on Plan Assets | | 213.2 | | | 16.5 | | | 28.1 | | | 26.4 | | | 21.9 | | | 9.9 | | | 14.0 | | | Company Contributions | | 5.0 | | | — | | | 1.3 | | | — | | | — | | | — | | | — | | | Participant Contributions | | 43.6 | | | 3.4 | | | 6.6 | | | 6.0 | | | 4.7 | | | 2.5 | | | 2.9 | | | Benefit Payments | | (137.8) | | | (10.7) | | | (21.6) | | | (18.3) | | | (15.0) | | | (7.6) | | | (8.8) | | | Fair Value of Plan Assets as of December 31, | | $ | 1,673.3 | | | $ | 137.5 | | | $ | 243.0 | | | $ | 204.6 | | | $ | 177.8 | | | $ | 90.2 | | | $ | 111.1 | | | | | | | | | | | | | | | | | | Funded Status as of December 31, | | $ | 823.8 | | | $ | 71.1 | | | $ | 108.4 | | | $ | 105.8 | | | $ | 91.9 | | | $ | 46.5 | | | $ | 57.4 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 2022 | | AEP | | AEP Texas | | APCo | | I&M | | OPCo | | PSO | | SWEPCo | | Change in Benefit Obligation | | (in millions) | | Benefit Obligation as of January 1, | | $ | 1,041.3 | | | $ | 80.5 | | | $ | 167.3 | | | $ | 118.6 | | | $ | 104.9 | | | $ | 54.4 | | | $ | 65.2 | | | Service Cost | | 7.4 | | | 0.5 | | | 0.8 | | | 0.9 | | | 0.6 | | | 0.4 | | | 0.6 | | | Interest Cost | | 29.2 | | | 2.2 | | | 4.7 | | | 3.4 | | | 3.0 | | | 1.5 | | | 1.8 | | | Actuarial Gain | | (109.8) | | | (7.1) | | | (16.2) | | | (8.7) | | | (8.9) | | | (5.2) | | | (6.6) | | | | | | | | | | | | | | | | | | Benefit Payments | | (140.1) | | | (10.9) | | | (23.0) | | | (18.3) | | | (15.5) | | | (7.9) | | | (8.8) | | | Participant Contributions | | 44.1 | | | 3.4 | | | 7.0 | | | 6.0 | | | 4.8 | | | 2.5 | | | 2.9 | | | Medicare Subsidy | | 0.5 | | | — | | | 0.1 | | | — | | | — | | | — | | | — | | | Benefit Obligation as of December 31, | | $ | 872.6 | | | $ | 68.6 | | | $ | 140.7 | | | $ | 101.9 | | | $ | 88.9 | | | $ | 45.7 | | | $ | 55.1 | | | | | | | | | | | | | | | | | | Change in Fair Value of Plan Assets | | | | | | | | | | | | | | | | Fair Value of Plan Assets as of January 1, | | $ | 2,044.3 | | | $ | 168.8 | | | $ | 302.3 | | | $ | 248.7 | | | $ | 220.0 | | | $ | 114.0 | | | $ | 136.6 | | | Actual Loss on Plan Assets | | (403.6) | | | (33.0) | | | (59.3) | | | (45.9) | | | (43.1) | | | (23.2) | | | (27.7) | | | Company Contributions | | 4.6 | | | — | | | 1.6 | | | — | | | — | | | — | | | — | | | Participant Contributions | | 44.1 | | | 3.4 | | | 7.0 | | | 6.0 | | | 4.8 | | | 2.5 | | | 2.9 | | | Benefit Payments | | (140.1) | | | (10.9) | | | (23.0) | | | (18.3) | | | (15.5) | | | (7.9) | | | (8.8) | | | Fair Value of Plan Assets as of December 31, | | $ | 1,549.3 | | | $ | 128.3 | | | $ | 228.6 | | | $ | 190.5 | | | $ | 166.2 | | | $ | 85.4 | | | $ | 103.0 | | | | | | | | | | | | | | | | | | Funded Status as of December 31, | | $ | 676.7 | | | $ | 59.7 | | | $ | 87.9 | | | $ | 88.6 | | | $ | 77.3 | | | $ | 39.7 | | | $ | 47.9 | |
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| Benefit Amounts Recognized on the Balance Sheets |
Amounts Included on the Balance Sheets Related to Funded Status
Pension Plans | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | December 31, 2023 | | AEP | | AEP Texas | | APCo | | I&M | | OPCo | | PSO | | SWEPCo | | | (in millions) | | Other Noncurrent Assets - Employee Benefits and Pension Assets | | $ | 17.3 | | | $ | 0.1 | | | $ | 46.0 | | | $ | 74.8 | | | $ | 41.4 | | | $ | 21.8 | | | $ | — | | | Other Current Liabilities – Accrued Short-term Benefit Liability | | (6.7) | | | (0.3) | | | — | | | — | | | — | | | (0.1) | | | (0.1) | | | Other Noncurrent Liabilities – Accrued Long-term Benefit Liability | | (54.0) | | | (10.2) | | | (0.3) | | | (1.2) | | | (0.3) | | | (1.2) | | | (33.6) | | | Funded (Underfunded) Status | | $ | (43.4) | | | $ | (10.4) | | | $ | 45.7 | | | $ | 73.6 | | | $ | 41.1 | | | $ | 20.5 | | | $ | (33.7) | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | December 31, 2022 | | AEP | | AEP Texas | | APCo | | I&M | | OPCo | | PSO | | SWEPCo | | | (in millions) | | Other Noncurrent Assets - Employee Benefits and Pension Assets | | $ | 113.4 | | | $ | 3.7 | | | $ | 46.6 | | | $ | 68.5 | | | $ | 43.1 | | | $ | 27.6 | | | $ | — | | | Other Current Liabilities – Accrued Short-term Benefit Liability | | (6.3) | | | (0.4) | | | — | | | (0.1) | | | — | | | (0.1) | | | (0.1) | | | Other Noncurrent Liabilities – Accrued Long-term Benefit Liability | | (55.1) | | | (2.3) | | | (0.6) | | | (1.5) | | | (0.3) | | | (1.3) | | | (19.3) | | | Funded (Underfunded) Status | | $ | 52.0 | | | $ | 1.0 | | | $ | 46.0 | | | $ | 66.9 | | | $ | 42.8 | | | $ | 26.2 | | | $ | (19.4) | |
OPEB | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | December 31, 2023 | | AEP | | AEP Texas | | APCo | | I&M | | OPCo | | PSO | | SWEPCo | | | (in millions) | | Other Noncurrent Assets - Employee Benefits and Pension Assets | | $ | 838.0 | | | $ | 71.1 | | | $ | 125.6 | | | $ | 105.8 | | | $ | 91.9 | | | $ | 46.5 | | | $ | 57.4 | | | Other Current Liabilities – Accrued Short-term Benefit Liability | | (2.4) | | | — | | | (1.6) | | | — | | | — | | | — | | | — | | | Other Noncurrent Liabilities – Accrued Long-term Benefit Liability | | (11.8) | | | — | | | (15.6) | | | — | | | — | | | — | | | — | | | Funded Status | | $ | 823.8 | | | $ | 71.1 | | | $ | 108.4 | | | $ | 105.8 | | | $ | 91.9 | | | $ | 46.5 | | | $ | 57.4 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | December 31, 2022 | | AEP | | AEP Texas | | APCo | | I&M | | OPCo | | PSO | | SWEPCo | | | (in millions) | | Other Noncurrent Assets - Employee Benefits and Pension Assets | | $ | 699.5 | | | $ | 59.7 | | | $ | 106.3 | | | $ | 88.6 | | | $ | 77.3 | | | $ | 39.7 | | | $ | 47.9 | | | Other Current Liabilities – Accrued Short-term Benefit Liability | | (2.5) | | | — | | | (1.6) | | | — | | | — | | | — | | | — | | | Other Noncurrent Liabilities – Accrued Long-term Benefit Liability | | (20.3) | | | — | | | (16.8) | | | — | | | — | | | — | | | — | | | Funded Status | | $ | 676.7 | | | $ | 59.7 | | | $ | 87.9 | | | $ | 88.6 | | | $ | 77.3 | | | $ | 39.7 | | | $ | 47.9 | |
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| Amounts Included in AOCI and Regulatory Assets |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | December 31, 2023 | | AEP | | AEP Texas | | APCo | | I&M | | OPCo | | PSO | | SWEPCo | | Components | | (in millions) | | Net Actuarial (Gain) Loss | | $ | 1,063.4 | | | $ | 175.2 | | | $ | 104.9 | | | $ | (5.8) | | | $ | 131.9 | | | $ | 46.7 | | | $ | 89.6 | | | Prior Service Cost | | 0.2 | | | — | | | — | | | — | | | — | | | — | | | — | | | | | | | | | | | | | | | | | | Recorded as | | | | | | | | | | | | | | | | Regulatory Assets | | $ | 938.6 | | | $ | 163.4 | | | $ | 102.6 | | | $ | 6.4 | | | $ | 131.9 | | | $ | 46.7 | | | $ | 89.7 | | | Deferred Income Taxes | | 26.4 | | | 2.7 | | | 0.4 | | | (2.6) | | | — | | | — | | | — | | | Net of Tax AOCI | | 98.6 | | | 9.1 | | | 1.9 | | | (9.6) | | | — | | | — | | | (0.1) | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | December 31, 2023 | | AEP | | AEP Texas | | APCo | | I&M | | OPCo | | PSO | | SWEPCo | | Components | | (in millions) | | Net Actuarial Loss | | $ | 201.5 | | | $ | 22.1 | | | $ | 27.1 | | | $ | 28.7 | | | $ | 18.1 | | | $ | 17.5 | | | $ | 18.4 | | | Prior Service Credit | | (27.4) | | | (2.3) | | | (4.2) | | | (3.7) | | | (2.9) | | | (1.6) | | | (2.1) | | | | | | | | | | | | | | | | | | Recorded as | | | | | | | | | | | | | | | | Regulatory Assets | | $ | 106.1 | | | $ | 19.8 | | | $ | 13.2 | | | $ | 19.0 | | | $ | 15.2 | | | $ | 15.9 | | | $ | 10.2 | | | Deferred Income Taxes | | 14.3 | | | — | | | 2.0 | | | 1.3 | | | — | | | — | | | 1.3 | | | Net of Tax AOCI | | 53.7 | | | — | | | 7.7 | | | 4.7 | | | — | | | — | | | 4.8 | |
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| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | December 31, 2022 | | AEP | | AEP Texas | | APCo | | I&M | | OPCo | | PSO | | SWEPCo | | Components | | (in millions) | | Net Actuarial (Gain) Loss | | $ | 935.6 | | | $ | 161.9 | | | $ | 95.6 | | | $ | (6.9) | | | $ | 124.3 | | | $ | 38.8 | | | $ | 77.6 | | | Prior Service Cost | | 0.2 | | | — | | | — | | | — | | | — | | | — | | | — | | | | | | | | | | | | | | | | | | Recorded as | | | | | | | | | | | | | | | | Regulatory Assets | | $ | 841.8 | | | $ | 151.2 | | | $ | 93.6 | | | $ | 4.8 | | | $ | 124.3 | | | $ | 38.8 | | | $ | 77.6 | | | Deferred Income Taxes | | 19.9 | | | 2.4 | | | 0.4 | | | (2.4) | | | — | | | — | | | — | | | Net of Tax AOCI | | 74.1 | | | 8.3 | | | 1.6 | | | (9.3) | | | — | | | — | | | — | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | December 31, 2022 | | AEP | | AEP Texas | | APCo | | I&M | | OPCo | | PSO | | SWEPCo | | Components | | (in millions) | | Net Actuarial Loss | | $ | 300.0 | | | $ | 29.7 | | | $ | 40.5 | | | $ | 40.2 | | | $ | 27.6 | | | $ | 22.0 | | | $ | 25.0 | | | Prior Service Credit | | (90.5) | | | (7.6) | | | (13.4) | | | (12.4) | | | (9.2) | | | (5.6) | | | (7.0) | | | | | | | | | | | | | | | | | | Recorded as | | | | | | | | | | | | | | | | Regulatory Assets | | $ | 126.0 | | | $ | 22.0 | | | $ | 14.7 | | | $ | 22.1 | | | $ | 18.4 | | | $ | 16.4 | | | $ | 11.2 | | | Deferred Income Taxes | | 17.5 | | | 0.1 | | | 2.5 | | | 1.2 | | | — | | | — | | | 1.5 | | | Net of Tax AOCI | | 66.0 | | | — | | | 9.9 | | | 4.5 | | | — | | | — | | | 5.3 | |
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| Components of Change in Amounts Included in AOCI and Regulatory Assets |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | December 31, 2023 | | AEP | | AEP Texas | | APCo | | I&M | | OPCo | | PSO | | SWEPCo | | Components | | (in millions) | | Actuarial Loss During the Year | | $ | 129.2 | | | $ | 13.4 | | | $ | 9.3 | | | $ | 1.2 | | | $ | 7.6 | | | $ | 7.9 | | | $ | 12.1 | | | Amortization of Actuarial Loss | | (1.4) | | | (0.1) | | | — | | | (0.1) | | | — | | | — | | | (0.1) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Change for the Year Ended December 31, | | $ | 127.8 | | | $ | 13.3 | | | $ | 9.3 | | | $ | 1.1 | | | $ | 7.6 | | | $ | 7.9 | | | $ | 12.0 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | December 31, 2023 | | AEP | | AEP Texas | | APCo | | I&M | | OPCo | | PSO | | SWEPCo | | Components | | (in millions) | | Actuarial Gain During the Year | | $ | (83.7) | | | $ | (6.4) | | | $ | (11.1) | | | $ | (9.6) | | | $ | (7.9) | | | $ | (3.7) | | | $ | (5.6) | | | Amortization of Actuarial Loss | | (14.8) | | | (1.2) | | | (2.3) | | | (1.9) | | | (1.6) | | | (0.8) | | | (1.0) | | | | | | | | | | | | | | | | | | Amortization of Prior Service Credit | | 63.1 | | | 5.3 | | | 9.2 | | | 8.7 | | | 6.3 | | | 4.0 | | | 4.9 | | | Change for the Year Ended December 31, | | $ | (35.4) | | | $ | (2.3) | | | $ | (4.2) | | | $ | (2.8) | | | $ | (3.2) | | | $ | (0.5) | | | $ | (1.7) | |
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| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | December 31, 2022 | | AEP | | AEP Texas | | APCo | | I&M | | OPCo | | PSO | | SWEPCo | | Components | | (in millions) | | Actuarial Loss During the Year | | $ | 103.9 | | | $ | 22.4 | | | $ | 19.1 | | | $ | 1.8 | | | $ | 11.7 | | | $ | 6.7 | | | $ | 5.0 | | | Amortization of Actuarial Loss | | (63.0) | | | (5.2) | | | (7.4) | | | (7.1) | | | (5.5) | | | (2.9) | | | (3.8) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Change for the Year Ended December 31, | | $ | 40.9 | | | $ | 17.2 | | | $ | 11.7 | | | $ | (5.3) | | | $ | 6.2 | | | $ | 3.8 | | | $ | 1.2 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | December 31, 2022 | | AEP | | AEP Texas | | APCo | | I&M | | OPCo | | PSO | | SWEPCo | | Components | | (in millions) | | Actuarial Loss During the Year | | $ | 403.6 | | | $ | 34.9 | | | $ | 59.4 | | | $ | 50.9 | | | $ | 46.1 | | | $ | 24.1 | | | $ | 28.5 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Amortization of Prior Service Credit | | 71.4 | | | 6.1 | | | 10.4 | | | 9.7 | | | 7.1 | | | 4.4 | | | 5.3 | | | Change for the Year Ended December 31, | | $ | 475.0 | | | $ | 41.0 | | | $ | 69.8 | | | $ | 60.6 | | | $ | 53.2 | | | $ | 28.5 | | | $ | 33.8 | |
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| Allocated Assets of Investments |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | Pension Plan | | OPEB | | | December 31, | | Company | | 2023 | | 2022 | | 2023 | | 2022 | | AEP Texas | | 8.1 | % | | 8.1 | % | | 8.2 | % | | 8.3 | % | | APCo | | 13.4 | % | | 12.9 | % | | 14.5 | % | | 14.8 | % | | I&M | | 13.4 | % | | 12.9 | % | | 12.2 | % | | 12.3 | % | | OPCo | | 10.2 | % | | 9.9 | % | | 10.6 | % | | 10.7 | % | | PSO | | 5.4 | % | | 5.3 | % | | 5.4 | % | | 5.5 | % | | SWEPCo | | 5.5 | % | | 5.6 | % | | 6.6 | % | | 6.6 | % |
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| Accumulated Benefit Obligation |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Accumulated Benefit Obligation | | AEP | | AEP Texas | | APCo | | I&M | | OPCo | | PSO | | SWEPCo | | | (in millions) | | Qualified Pension Plan | | $ | 3,878.7 | | | $ | 321.1 | | | $ | 485.6 | | | $ | 450.3 | | | $ | 354.0 | | | $ | 186.6 | | | $ | 241.9 | | | Nonqualified Pension Plans | | 54.8 | | | 2.1 | | | 0.1 | | | 0.7 | | | 0.1 | | | 1.2 | | | 1.0 | | | Total as of December 31, 2023 | | $ | 3,933.5 | | | $ | 323.2 | | | $ | 485.7 | | | $ | 451.0 | | | $ | 354.1 | | | $ | 187.8 | | | $ | 242.9 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Accumulated Benefit Obligation | | AEP | | AEP Texas | | APCo | | I&M | | OPCo | | PSO | | SWEPCo | | | (in millions) | | Qualified Pension Plan | | $ | 3,827.4 | | | $ | 315.4 | | | $ | 470.1 | | | $ | 443.8 | | | $ | 344.1 | | | $ | 179.1 | | | $ | 234.0 | | | Nonqualified Pension Plans | | 55.6 | | | 2.5 | | | 0.3 | | | 1.2 | | | 0.1 | | | 1.2 | | | 1.1 | | | Total as of December 31, 2022 | | $ | 3,883.0 | | | $ | 317.9 | | | $ | 470.4 | | | $ | 445.0 | | | $ | 344.2 | | | $ | 180.3 | | | $ | 235.1 | |
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| Underfunded Projected Benefit Obligation |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | AEP | | AEP Texas | | APCo | | I&M | | OPCo | | PSO | | SWEPCo | | (in millions) | | Projected Benefit Obligation | $ | 60.7 | | | $ | 343.1 | | | $ | 0.4 | | | $ | 1.2 | | | $ | 0.3 | | | $ | 1.4 | | | $ | 261.2 | | | Fair Value of Plan Assets | — | | | 332.7 | | | — | | | — | | | — | | | — | | | 227.5 | | Underfunded Projected Benefit Obligation as of December 31, 2023 | $ | (60.7) | | | $ | (10.4) | | | $ | (0.4) | | | $ | (1.2) | | | $ | (0.3) | | | $ | (1.4) | | | $ | (33.7) | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | AEP | | AEP Texas | | APCo | | I&M | | OPCo | | PSO | | SWEPCo | | (in millions) | | Projected Benefit Obligation | $ | 61.5 | | | $ | 2.7 | | | $ | 0.6 | | | $ | 1.6 | | | $ | 0.3 | | | $ | 1.5 | | | $ | 250.7 | | | Fair Value of Plan Assets | — | | | — | | | — | | | — | | | — | | | — | | | 231.3 | | Underfunded Projected Benefit Obligation as of December 31, 2022 | $ | (61.5) | | | $ | (2.7) | | | $ | (0.6) | | | $ | (1.6) | | | $ | (0.3) | | | $ | (1.5) | | | $ | (19.4) | |
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|
| Underfunded Accumulated Benefit Obligation |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | AEP | | AEP Texas | | APCo | | I&M | | OPCo | | PSO | | SWEPCo | | (in millions) | | Accumulated Benefit Obligation | $ | 54.8 | | | $ | 2.1 | | | $ | 0.1 | | | $ | 0.7 | | | $ | 0.1 | | | $ | 1.2 | | | $ | 242.9 | | | Fair Value of Plan Assets | — | | | — | | | — | | | — | | | — | | | — | | | 227.5 | | Underfunded Accumulated Benefit Obligation as of December 31, 2023 | $ | (54.8) | | | $ | (2.1) | | | $ | (0.1) | | | $ | (0.7) | | | $ | (0.1) | | | $ | (1.2) | | | $ | (15.4) | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | AEP | | AEP Texas | | APCo | | I&M | | OPCo | | PSO | | SWEPCo | | (in millions) | | Accumulated Benefit Obligation | $ | 55.6 | | | $ | 2.5 | | | $ | 0.3 | | | $ | 1.2 | | | $ | 0.1 | | | $ | 1.2 | | | $ | 235.1 | | | Fair Value of Plan Assets | — | | | — | | | — | | | — | | | — | | | — | | | 231.3 | | Underfunded Accumulated Benefit Obligation as of December 31, 2022 | $ | (55.6) | | | $ | (2.5) | | | $ | (0.3) | | | $ | (1.2) | | | $ | (0.1) | | | $ | (1.2) | | | $ | (3.8) | |
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| Estimated Contributions and Payments to the Pension and OPEB Plans |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | AEP | | AEP Texas | | APCo | | I&M | | OPCo | | PSO | | SWEPCo | | | (in millions) | | Pension Plans | | $ | 6.7 | | | $ | 0.3 | | | $ | — | | | $ | — | | | $ | — | | | $ | 0.1 | | | $ | 0.1 | | | OPEB | | 3.0 | | | — | | | 1.6 | | | — | | | — | | | — | | | — | |
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| Estimated Payments Expected to be Made by the Pension and OPEB Plans |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Pension Plans | | AEP | | AEP Texas | | APCo | | I&M | | OPCo | | PSO | | SWEPCo | | | (in millions) | | 2024 | | $ | 369.5 | | | $ | 36.7 | | | $ | 43.9 | | | $ | 39.0 | | | $ | 32.6 | | | $ | 19.7 | | | $ | 24.4 | | | 2025 | | 361.8 | | | 34.3 | | | 43.3 | | | 39.7 | | | 32.7 | | | 19.2 | | | 25.8 | | | 2026 | | 365.7 | | | 34.5 | | | 44.1 | | | 39.7 | | | 32.5 | | | 19.4 | | | 26.1 | | | 2027 | | 361.9 | | | 32.2 | | | 42.6 | | | 39.8 | | | 32.4 | | | 19.3 | | | 25.3 | | | 2028 | | 357.8 | | | 32.2 | | | 43.5 | | | 39.4 | | | 31.3 | | | 19.0 | | | 23.7 | | | Years 2029 to 2033, in Total | | 1,657.6 | | | 133.5 | | | 200.0 | | | 189.4 | | | 144.5 | | | 81.0 | | | 105.6 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | OPEB Benefit Payments | | AEP | | AEP Texas | | APCo | | I&M | | OPCo | | PSO | | SWEPCo | | | (in millions) | | 2024 | | $ | 117.2 | | | $ | 9.4 | | | $ | 18.8 | | | $ | 15.2 | | | $ | 12.6 | | | $ | 6.7 | | | $ | 7.8 | | | 2025 | | 122.6 | | | 10.0 | | | 19.4 | | | 15.7 | | | 13.0 | | | 7.1 | | | 8.3 | | | 2026 | | 122.4 | | | 10.2 | | | 19.3 | | | 15.7 | | | 12.8 | | | 7.0 | | | 8.3 | | | 2027 | | 121.5 | | | 10.2 | | | 19.1 | | | 15.4 | | | 12.7 | | | 6.8 | | | 8.1 | | | 2028 | | 120.2 | | | 9.9 | | | 19.0 | | | 15.0 | | | 12.5 | | | 6.5 | | | 8.2 | | | Years 2029 to 2033, in Total | | 566.1 | | | 45.2 | | | 88.3 | | | 69.7 | | | 57.6 | | | 30.2 | | | 38.8 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | OPEB Medicare
Subsidy Receipts | | AEP | | AEP Texas | | APCo | | I&M | | OPCo | | PSO | | SWEPCo | | | (in millions) | | 2024 | | $ | 0.3 | | | $ | — | | | $ | 0.1 | | | $ | — | | | $ | — | | | $ | — | | | $ | — | | | 2025 | | 0.3 | | | — | | | 0.1 | | | — | | | — | | | — | | | — | | | 2026 | | 0.3 | | | — | | | 0.1 | | | — | | | — | | | — | | | — | | | 2027 | | 0.3 | | | — | | | 0.1 | | | — | | | — | | | — | | | — | | | 2028 | | 0.3 | | | — | | | 0.1 | | | — | | | — | | | — | | | — | | | Years 2029 to 2033, in Total | | 1.5 | | | — | | | 0.5 | | | — | | | — | | | — | | | — | |
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|
| Components of Net Periodic Benefit Cost |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 2023 | | AEP | | AEP Texas | | APCo | | I&M | | OPCo | | PSO | | SWEPCo | | | (in millions) | | Service Cost | | $ | 94.3 | | | $ | 8.2 | | | $ | 9.1 | | | $ | 11.9 | | | $ | 8.4 | | | $ | 5.5 | | | $ | 7.7 | | | Interest Cost | | 219.2 | | | 18.3 | | | 26.4 | | | 24.9 | | | 19.8 | | | 10.7 | | | 13.9 | | | Expected Return on Plan Assets | | (339.2) | | | (28.1) | | | (44.6) | | | (44.2) | | | (34.0) | | | (18.3) | | | (19.4) | | | | | | | | | | | | | | | | | | Amortization of Net Actuarial Loss | | 1.4 | | | 0.1 | | | — | | | 0.1 | | | — | | | — | | | 0.1 | | | Net Periodic Benefit Cost (Credit) | | (24.3) | | | (1.5) | | | (9.1) | | | (7.3) | | | (5.8) | | | (2.1) | | | 2.3 | | | Capitalized Portion | | (43.6) | | | (4.7) | | | (4.2) | | | (3.6) | | | (4.7) | | | (2.5) | | | (3.0) | | | Net Periodic Benefit Credit Recognized in Expense | | $ | (67.9) | | | $ | (6.2) | | | $ | (13.3) | | | $ | (10.9) | | | $ | (10.5) | | | $ | (4.6) | | | $ | (0.7) | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 2022 | | AEP | | AEP Texas | | APCo | | I&M | | OPCo | | PSO | | SWEPCo | | | (in millions) | | Service Cost | | $ | 123.1 | | | $ | 11.1 | | | $ | 11.4 | | | $ | 16.2 | | | $ | 11.2 | | | $ | 7.4 | | | $ | 10.6 | | | Interest Cost | | 148.2 | | | 12.1 | | | 17.5 | | | 17.0 | | | 13.3 | | | 7.0 | | | 9.1 | | | Expected Return on Plan Assets | | (253.4) | | | (21.0) | | | (32.3) | | | (32.4) | | | (24.8) | | | (13.4) | | | (14.6) | | | | | | | | | | | | | | | | | | Amortization of Net Actuarial Loss | | 63.0 | | | 5.2 | | | 7.4 | | | 7.1 | | | 5.5 | | | 2.9 | | | 3.8 | | | Net Periodic Benefit Cost | | 80.9 | | | 7.4 | | | 4.0 | | | 7.9 | | | 5.2 | | | 3.9 | | | 8.9 | | | Capitalized Portion | | (53.8) | | | (6.2) | | | (5.0) | | | (4.6) | | | (6.1) | | | (3.2) | | | (4.0) | | | Net Periodic Benefit Cost (Credit) Recognized in Expense | | $ | 27.1 | | | $ | 1.2 | | | $ | (1.0) | | | $ | 3.3 | | | $ | (0.9) | | | $ | 0.7 | | | $ | 4.9 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 2021 | | AEP | | AEP Texas | | APCo | | I&M | | OPCo | | PSO | | SWEPCo | | | (in millions) | | Service Cost | | $ | 129.2 | | | $ | 11.8 | | | $ | 11.9 | | | $ | 17.5 | | | $ | 11.4 | | | $ | 8.0 | | | $ | 11.2 | | | Interest Cost | | 137.2 | | | 11.2 | | | 16.4 | | | 16.2 | | | 12.5 | | | 6.7 | | | 8.5 | | | Expected Return on Plan Assets | | (229.7) | | | (19.5) | | | (29.1) | | | (28.9) | | | (22.3) | | | (12.3) | | | (13.5) | | | | | | | | | | | | | | | | | | Amortization of Net Actuarial Loss | | 101.5 | | | 8.3 | | | 12.0 | | | 11.7 | | | 9.1 | | | 4.9 | | | 6.2 | | | Net Periodic Benefit Cost | | 138.2 | | | 11.8 | | | 11.2 | | | 16.5 | | | 10.7 | | | 7.3 | | | 12.4 | | | Capitalized Portion | | (55.7) | | | (6.6) | | | (5.2) | | | (4.9) | | | (6.2) | | | (3.4) | | | (4.1) | | | Net Periodic Benefit Cost Recognized in Expense | | $ | 82.5 | | | $ | 5.2 | | | $ | 6.0 | | | $ | 11.6 | | | $ | 4.5 | | | $ | 3.9 | | | $ | 8.3 | |
OPEB
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 2023 | | AEP | | AEP Texas | | APCo | | I&M | | OPCo | | PSO | | SWEPCo | | | (in millions) | | Service Cost | | $ | 4.6 | | | $ | 0.3 | | | $ | 0.5 | | | $ | 0.6 | | | $ | 0.4 | | | $ | 0.3 | | | $ | 0.4 | | | Interest Cost | | 46.2 | | | 3.6 | | | 7.4 | | | 5.4 | | | 4.7 | | | 2.4 | | | 2.9 | | | Expected Return on Plan Assets | | (109.6) | | | (9.0) | | | (16.1) | | | (13.5) | | | (11.8) | | | (5.9) | | | (7.2) | | | Amortization of Prior Service Credit | | (63.1) | | | (5.3) | | | (9.2) | | | (8.7) | | | (6.3) | | | (4.0) | | | (4.9) | | | Amortization of Net Actuarial Loss | | 14.8 | | | 1.2 | | | 2.3 | | | 1.9 | | | 1.6 | | | 0.8 | | | 1.0 | | | Net Periodic Benefit Credit | | (107.1) | | | (9.2) | | | (15.1) | | | (14.3) | | | (11.4) | | | (6.4) | | | (7.8) | | | Capitalized Portion | | (2.1) | | | (0.2) | | | (0.2) | | | (0.2) | | | (0.2) | | | (0.1) | | | (0.2) | | | Net Periodic Benefit Credit Recognized in Expense | | $ | (109.2) | | | $ | (9.4) | | | $ | (15.3) | | | $ | (14.5) | | | $ | (11.6) | | | $ | (6.5) | | | $ | (8.0) | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 2022 | | AEP | | AEP Texas | | APCo | | I&M | | OPCo | | PSO | | SWEPCo | | | (in millions) | | Service Cost | | $ | 7.4 | | | $ | 0.5 | | | $ | 0.8 | | | $ | 0.9 | | | $ | 0.6 | | | $ | 0.4 | | | $ | 0.6 | | | Interest Cost | | 29.2 | | | 2.2 | | | 4.7 | | | 3.4 | | | 3.0 | | | 1.5 | | | 1.8 | | | Expected Return on Plan Assets | | (110.0) | | | (9.1) | | | (16.3) | | | (13.7) | | | (12.0) | | | (6.1) | | | (7.3) | | | Amortization of Prior Service Credit | | (71.4) | | | (6.1) | | | (10.4) | | | (9.7) | | | (7.1) | | | (4.4) | | | (5.3) | | | | | | | | | | | | | | | | | | Net Periodic Benefit Credit | | (144.8) | | | (12.5) | | | (21.2) | | | (19.1) | | | (15.5) | | | (8.6) | | | (10.2) | | | Capitalized Portion | | (3.2) | | | (0.3) | | | (0.4) | | | (0.3) | | | (0.3) | | | (0.2) | | | (0.2) | | | Net Periodic Benefit Credit Recognized in Expense | | $ | (148.0) | | | $ | (12.8) | | | $ | (21.6) | | | $ | (19.4) | | | $ | (15.8) | | | $ | (8.8) | | | $ | (10.4) | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 2021 | | AEP | | AEP Texas | | APCo | | I&M | | OPCo | | PSO | | SWEPCo | | | (in millions) | | Service Cost | | $ | 9.5 | | | $ | 0.7 | | | $ | 1.0 | | | $ | 1.3 | | | $ | 0.8 | | | $ | 0.6 | | | $ | 0.8 | | | Interest Cost | | 30.5 | | | 2.4 | | | 4.9 | | | 3.5 | | | 3.0 | | | 1.6 | | | 1.9 | | | Expected Return on Plan Assets | | (91.1) | | | (7.5) | | | (13.5) | | | (11.1) | | | (9.7) | | | (5.0) | | | (6.1) | | | Amortization of Prior Service Credit | | (70.9) | | | (6.0) | | | (10.3) | | | (9.6) | | | (7.2) | | | (4.4) | | | (5.3) | | | | | | | | | | | | | | | | | | Net Periodic Benefit Credit | | (122.0) | | | (10.4) | | | (17.9) | | | (15.9) | | | (13.1) | | | (7.2) | | | (8.7) | | | Capitalized Portion | | (4.1) | | | (0.4) | | | (0.4) | | | (0.4) | | | (0.4) | | | (0.3) | | | (0.3) | | | Net Periodic Benefit Credit Recognized in Expense | | $ | (126.1) | | | $ | (10.8) | | | $ | (18.3) | | | $ | (16.3) | | | $ | (13.5) | | | $ | (7.5) | | | $ | (9.0) | |
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| Cost for Matching Contributions to the Retirement Savings Plans |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Year Ended December 31, | | AEP | | AEP Texas | | APCo | | I&M | | OPCo | | PSO | | SWEPCo | | | (in millions) | | 2023 | | $ | 87.9 | | | $ | 7.1 | | | $ | 8.4 | | | $ | 11.0 | | | $ | 8.2 | | | $ | 5.3 | | | $ | 6.7 | | | 2022 | | 81.9 | | | 6.5 | | | 7.8 | | | 11.1 | | | 7.7 | | | 4.7 | | | 6.4 | | | 2021 | | 79.9 | | | 6.4 | | | 7.6 | | | 10.9 | | | 7.2 | | | 4.6 | | | 6.4 | |
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| Benefit Obligations [Member] |
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| Actuarial Assumptions |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | Pension Plans | | OPEB | | | December 31, | | Assumption | | 2023 | | 2022 | | 2023 | | 2022 | | Discount Rate | | 5.15 | % | | 5.50 | % | | 5.15 | % | | 5.50 | % | | Interest Crediting Rate | | 4.00 | % | | 4.25 | % | | NA | | NA |
NA Not applicable.
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Assumption – Rate of Compensation Increase (a) - Pension Plans | | | AEP | | AEP Texas | | APCo | | I&M | | OPCo | | PSO | | SWEPCo | | December 31, 2023 | | 5.05 | % | | 5.20 | % | | 4.95 | % | | 5.05 | % | | 5.45 | % | | 5.20 | % | | 5.00 | % | | December 31, 2022 | | 5.05 | % | | 5.15 | % | | 4.90 | % | | 5.00 | % | | 5.35 | % | | 5.15 | % | | 5.00 | % |
(a)Rates are for base pay only. In addition, an amount is added to reflect target incentive compensation for exempt employees and overtime and incentive pay for nonexempt employees.
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| Benefit Costs [Member] |
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| Actuarial Assumptions |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Pension Plans | | OPEB | | | Year Ended December 31, | | Assumption | | 2023 | | 2022 | | 2021 | | 2023 | | 2022 | | 2021 | | Discount Rate | | 5.50 | % | | 2.90 | % | | 2.50 | % | | 5.50 | % | | 2.90 | % | | 2.55 | % | | Interest Crediting Rate | | 4.25 | % | | 4.00 | % | | 4.00 | % | | NA | | NA | | NA | | Expected Return on Plan Assets | | 7.50 | % | | 5.25 | % | | 4.75 | % | | 7.25 | % | | 5.50 | % | | 4.75 | % |
NA Not applicable.
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Assumption – Rate of Compensation Increase (a) - Pension Plans | | | AEP | | AEP Texas | | APCo | | I&M | | OPCo | | PSO | | SWEPCo | | December 31, 2023 | | 5.05 | % | | 5.20 | % | | 4.95 | % | | 5.05 | % | | 5.45 | % | | 5.20 | % | | 5.00 | % | | December 31, 2022 | | 5.05 | % | | 5.15 | % | | 4.90 | % | | 5.00 | % | | 5.35 | % | | 5.15 | % | | 5.00 | % | | December 31, 2021 | | 5.10 | % | | 5.10 | % | | 4.85 | % | | 5.00 | % | | 5.30 | % | | 5.10 | % | | 4.95 | % |
(a)Rates are for base pay only. In addition, an amount is added to reflect target incentive compensation for exempt employees and overtime and incentive pay for nonexempt employees.
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| Pension Plans [Member] |
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| Assets within Fair Value Hierarchy |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Asset Class | | Level 1 | | Level 2 | | Level 3 | | Other | | Total | | Year End
Allocation | | | (in millions) | | | | Equities (a): | | | | | | | | | | | | | | Domestic | | $ | 411.3 | | | $ | — | | | $ | — | | | $ | — | | | $ | 411.3 | | | 10.0 | % | | International | | 389.8 | | | — | | | — | | | — | | | 389.8 | | | 9.5 | % | | | | | | | | | | | | | | | | | | | | | | | | | | | | Common Collective Trusts (b) | | — | | | — | | | — | | | 420.9 | | | 420.9 | | | 10.2 | % | | Subtotal – Equities | | 801.1 | | | — | | | — | | | 420.9 | | | 1,222.0 | | | 29.7 | % | | | | | | | | | | | | | | | Fixed Income (a): | | | | | | | | | | | | | | United States Government and Agency Securities | | 8.3 | | | 1,099.2 | | | — | | | — | | | 1,107.5 | | | 26.9 | % | | Corporate Debt | | — | | | 894.8 | | | — | | | — | | | 894.8 | | | 21.7 | % | | Foreign Debt | | — | | | 167.1 | | | — | | | — | | | 167.1 | | | 4.1 | % | | State and Local Government | | — | | | 38.7 | | | — | | | — | | | 38.7 | | | 0.9 | % | | Other – Asset Backed | | — | | | 1.3 | | | — | | | — | | | 1.3 | | | — | % | | Subtotal – Fixed Income | | 8.3 | | | 2,201.1 | | | — | | | — | | | 2,209.4 | | | 53.6 | % | | | | | | | | | | | | | | | Infrastructure (b) | | — | | | — | | | — | | | 101.4 | | | 101.4 | | | 2.5 | % | | Real Estate (b) | | — | | | — | | | — | | | 239.3 | | | 239.3 | | | 5.8 | % | | Alternative Investments (b) | | — | | | — | | | — | | | 241.8 | | | 241.8 | | | 5.8 | % | | | | | | | | | | | | | | | | | | | | | | | | | | | | Cash and Cash Equivalents (b) | | — | | | 51.0 | | | — | | | 33.8 | | | 84.8 | | | 2.1 | % | | Other – Pending Transactions and Accrued Income (c) | | — | | | — | | | 0.1 | | | 19.4 | | | 19.5 | | | 0.5 | % | | | | | | | | | | | | | | | Total | | $ | 809.4 | | | $ | 2,252.1 | | | $ | 0.1 | | | $ | 1,056.6 | | | $ | 4,118.2 | | | 100.0 | % |
(a)Includes investment securities loaned to borrowers under the securities lending program. See the “Investments Held in Trust for Future Liabilities” section of Note 1 for additional information. (b)Amounts in “Other” column represent investments for which fair value is measured using net asset value per-share. (c)Amounts in “Other” column primarily represent accrued interest, dividend receivables and transactions pending settlement. | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Asset Class | | Level 1 | | Level 2 | | Level 3 | | Other | | Total | | Year End
Allocation | | | (in millions) | | | | Equities (a): | | | | | | | | | | | | | | Domestic | | $ | 347.6 | | | $ | — | | | $ | — | | | $ | — | | | $ | 347.6 | | | 8.4 | % | | International | | 398.4 | | | — | | | — | | | — | | | 398.4 | | | 9.7 | % | | | | | | | | | | | | | | | | | | | | | | | | | | | | Common Collective Trusts (b) | | — | | | — | | | — | | | 379.9 | | | 379.9 | | | 9.2 | % | | Subtotal – Equities | | 746.0 | | | — | | | — | | | 379.9 | | | 1,125.9 | | | 27.3 | % | | | | | | | | | | | | | | | Fixed Income (a): | | | | | | | | | | | | | | | | | | | | | | | | | | | United States Government and Agency Securities | | (0.6) | | | 1,071.4 | | | — | | | — | | | 1,070.8 | | | 26.0 | % | | Corporate Debt | | — | | | 891.7 | | | — | | | — | | | 891.7 | | | 21.6 | % | | Foreign Debt | | — | | | 140.2 | | | — | | | — | | | 140.2 | | | 3.4 | % | | State and Local Government | | — | | | 37.0 | | | — | | | — | | | 37.0 | | | 0.9 | % | | Other – Asset Backed | | — | | | 0.8 | | | — | | | — | | | 0.8 | | | — | % | | Subtotal – Fixed Income | | (0.6) | | | 2,141.1 | | | — | | | — | | | 2,140.5 | | | 51.9 | % | | | | | | | | | | | | | | | Infrastructure (b) | | — | | | — | | | — | | | 109.2 | | | 109.2 | | | 2.6 | % | | Real Estate (b) | | — | | | — | | | — | | | 276.9 | | | 276.9 | | | 6.7 | % | | Alternative Investments (b) | | — | | | — | | | — | | | 319.7 | | | 319.7 | | | 7.8 | % | | | | | | | | | | | | | | | | | | | | | | | | | | | | Cash and Cash Equivalents (b) | | — | | | 64.9 | | | — | | | 58.3 | | | 123.2 | | | 3.0 | % | | Other – Pending Transactions and Accrued Income (c) | | — | | | — | | | — | | | 29.3 | | | 29.3 | | | 0.7 | % | | | | | | | | | | | | | | | Total | | $ | 745.4 | | | $ | 2,206.0 | | | $ | — | | | $ | 1,173.3 | | | $ | 4,124.7 | | | 100.0 | % |
(a)Includes investment securities loaned to borrowers under the securities lending program. See the “Investments Held in Trust for Future Liabilities” section of Note 1 for additional information. (b)Amounts in “Other” column represent investments for which fair value is measured using net asset value per-share. (c)Amounts in “Other” column primarily represent accrued interest, dividend receivables and transactions pending settlement.
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| Other Postretirement Benefit Plans [Member] |
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| Assets within Fair Value Hierarchy |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Asset Class | | Level 1 | | Level 2 | | Level 3 | | Other | | Total | | Year End
Allocation | | | (in millions) | | | | Equities: | | | | | | | | | | | | | | Domestic | | $ | 540.6 | | | $ | — | | | $ | — | | | $ | — | | | $ | 540.6 | | | 32.3 | % | | International | | 288.4 | | | — | | | — | | | — | | | 288.4 | | | 17.2 | % | | | | | | | | | | | | | | | Common Collective Trusts (a) | | — | | | — | | | — | | | 131.6 | | | 131.6 | | | 7.9 | % | | Subtotal – Equities | | 829.0 | | | — | | | — | | | 131.6 | | | 960.6 | | | 57.4 | % | | | | | | | | | | | | | | | Fixed Income: | | | | | | | | | | | | | | Common Collective Trust – Debt (a) | | — | | | — | | | — | | | 146.7 | | | 146.7 | | | 8.8 | % | | United States Government and Agency Securities | | 1.4 | | | 163.3 | | | — | | | — | | | 164.7 | | | 9.8 | % | | Corporate Debt | | — | | | 149.0 | | | — | | | — | | | 149.0 | | | 8.9 | % | | Foreign Debt | | — | | | 28.6 | | | — | | | — | | | 28.6 | | | 1.7 | % | | State and Local Government | | 41.5 | | | 7.8 | | | — | | | — | | | 49.3 | | | 3.0 | % | | Other – Asset Backed | | — | | | 0.2 | | | — | | | — | | | 0.2 | | | — | % | | Subtotal – Fixed Income | | 42.9 | | | 348.9 | | | — | | | 146.7 | | | 538.5 | | | 32.2 | % | | | | | | | | | | | | | | | Trust Owned Life Insurance: | | | | | | | | | | | | | | International Equities | | — | | | 22.3 | | | — | | | — | | | 22.3 | | | 1.3 | % | | United States Bonds | | — | | | 130.0 | | | — | | | — | | | 130.0 | | | 7.8 | % | | Subtotal – Trust Owned Life Insurance | | — | | | 152.3 | | | — | | | — | | | 152.3 | | | 9.1 | % | | | | | | | | | | | | | | | Cash and Cash Equivalents (a) | | 25.9 | | | — | | | — | | | 2.9 | | | 28.8 | | | 1.7 | % | | Other – Pending Transactions and Accrued Income (b) | | — | | | — | | | — | | | (6.9) | | | (6.9) | | | (0.4) | % | | | | | | | | | | | | | | | Total | | $ | 897.8 | | | $ | 501.2 | | | $ | — | | | $ | 274.3 | | | $ | 1,673.3 | | | 100.0 | % |
(a)Amounts in “Other” column represent investments for which fair value is measured using net asset value per-share. (b)Amounts in “Other” column primarily represent accrued interest, dividend receivables and transactions pending settlement. | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Asset Class | | Level 1 | | Level 2 | | Level 3 | | Other | | Total | | Year End
Allocation | | | (in millions) | | | | Equities: | | | | | | | | | | | | | | Domestic | | $ | 414.1 | | | $ | — | | | $ | — | | | $ | — | | | $ | 414.1 | | | 26.7 | % | | International | | 265.0 | | | — | | | — | | | — | | | 265.0 | | | 17.1 | % | | | | | | | | | | | | | | | Common Collective Trusts (a) | | — | | | — | | | — | | | 169.1 | | | 169.1 | | | 10.9 | % | | Subtotal – Equities | | 679.1 | | | — | | | — | | | 169.1 | | | 848.2 | | | 54.7 | % | | | | | | | | | | | | | | | Fixed Income: | | | | | | | | | | | | | | Common Collective Trust – Debt (a) | | — | | | — | | | — | | | 120.3 | | | 120.3 | | | 7.8 | % | | United States Government and Agency Securities | | 0.1 | | | 155.8 | | | — | | | — | | | 155.9 | | | 10.1 | % | | Corporate Debt | | — | | | 141.5 | | | — | | | — | | | 141.5 | | | 9.1 | % | | Foreign Debt | | — | | | 21.0 | | | — | | | — | | | 21.0 | | | 1.4 | % | | State and Local Government | | 62.9 | | | 7.8 | | | — | | | — | | | 70.7 | | | 4.6 | % | | | | | | | | | | | | | | | Subtotal – Fixed Income | | 63.0 | | | 326.1 | | | — | | | 120.3 | | | 509.4 | | | 33.0 | % | | | | | | | | | | | | | | | Trust Owned Life Insurance: | | | | | | | | | | | | | | International Equities | | — | | | 46.7 | | | — | | | — | | | 46.7 | | | 3.0 | % | | United States Bonds | | — | | | 110.3 | | | — | | | — | | | 110.3 | | | 7.1 | % | | Subtotal – Trust Owned Life Insurance | | — | | | 157.0 | | | — | | | — | | | 157.0 | | | 10.1 | % | | | | | | | | | | | | | | | Cash and Cash Equivalents (a) | | 23.2 | | | — | | | — | | | 6.7 | | | 29.9 | | | 1.9 | % | | Other – Pending Transactions and Accrued Income (b) | | — | | | — | | | — | | | 4.8 | | | 4.8 | | | 0.3 | % | | | | | | | | | | | | | | | Total | | $ | 765.3 | | | $ | 483.1 | | | $ | — | | | $ | 300.9 | | | $ | 1,549.3 | | | 100.0 | % |
(a)Amounts in “Other” column represent investments for which fair value is measured using net asset value per-share. (b)Amounts in “Other” column primarily represent accrued interest, dividend receivables and transactions pending settlement.
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