American Electric Power (AEP) is an electric power company headquartered in Columbus, Ohio.
AEP is one of America’s leading generators of power, with the nation’s largest electricity transmission system, approximately 37,600 megawatts of generating capacity.
The company serves over 5.3 million customers across 11 states.
The subsidiaries of AEP have a total of 18,529 employees.
Its main business segments include:
Regulated utility operations: its service territory covers 197,500 square miles in Indiana, Arkansas, Louisiana, Kentucky, Ohio, Tennessee, Oklahoma, West Virginia, Texas, Michigan, and Virginia.
Transmission: supplying about 10 percent of Eastern Interconnection demand, the transmission system serves 38 US states and eastern Canada.
Power generation: operates more than 60 generating stations in the US.
River operations: one of the largest inland river barge companies in the US – transporting more than 65 million tons annually. AEP’s fleet includes 70 towboats, over 2,700 cargo barges, and twenty 10,000 barrel tank barges.
AEP energy partners: providing electric supply to customers in deregulated electricity market.
Overview
- President and CEO: Nick K. Akins
- Industry: Electric utilities
- Type: Public company
- Listed on New York Stock Exchange (NYSE)
- NYSE stock symbol: AEP
- S&P 500 Component
- Formed: 1906
- Net revenues: $17.020 billion USD (2014)
- Net income: $1,638 million USD (2014)
- Earnings per share: $3.34 USD (2014)
- Company address: 1 Riverside Plaza 28th Floor Columbus, Ohio
- Employees: 18,529 (2014)
- Website: http://www.aep.com/
- Investor relations number: 614-716-2819
American Electric Power (AEP) Financial Results, Years Ended December 31
| Revenues (in $ millions) | 2014 | 2013 |
| Vertically integrated utilities | $9,397 | $9,347 |
| Transmission and distribution utilities | $4,553 | $4,279 |
| Generation & marketing | $2,384 | $1,208 |
| Other revenues | $686 | $523 |
| – Total revenues | $17,020 | $15,357 |
| Expenses (in $ millions) | ||
| Fuel and other consumables used for electric generation | $4,272 | $4,068 |
| Purchased electricity for resale | $2,086 | $1,491 |
| Other operation | $3,225 | $2,904 |
| Maintenance | $1,361 | $1,179 |
| Asset impairments and other related charges | $ – | $226 |
| Depreciation and amortization | $1,929 | $1,743 |
| Taxes other than income taxes | $915 | $891 |
| – Total expenses | $13,788 | $12,502 |
| Income Data (in $ millions) | ||
| Operating income | $3,232 | $2,855 |
| Income before income taxes and equity earnings | $2,490 | $2,110 |
| Income tax expense | $942 | $684 |
| Net income | $1,638 | $1,484 |
| Net income attributable to AEP | $1,634 | $1,480 |
| Balance sheet data (in $ millions) | ||
| Total assets | $59,633 | $56,414 |
| Long-term debt | $16,181 | $16,828 |
| Total liabilities | $42,809 | $40,328 |
| Total stockholders’ equity | $16,820 | $16,085 |
| Common share data (in $) | ||
| Basic earnings (loss) per common share | $3.34 | $3.04 |
| Diluted earnings (loss) per common share | $3.34 | $3.04 |
| Cash flow data (in $ millions) | ||
| Net cash provided by operating activities | $4,613 | $4,106 |
| Net cash used in investing activities | $(4,406) | $(3,818) |
| Net cash used in financing activities | $(162) | $(449) |
| Cash and cash equivalents at beginning of year | $118 | $279 |
| Cash and cash equivalents at end of year | $163 | $118 |
Source: “American Electric Power (AEP) Form 10-K 2014”