BUSINESS SEGMENTS The disclosures in this note apply to all Registrants unless indicated otherwise. AEPs Reportable Segments AEPs primary business is the generation, transmission and distribution of electricity. Within its Vertically Integrated Utilities segment, AEP centrally dispatches generation assets and manages its overall utility operations on an integrated basis because of the substantial impact of cost-based rates and regulatory oversight. Intersegment sales and transfers are generally based on underlying contractual arrangements and agreements. AEPs reportable segments and their related business activities are outlined below: Vertically Integrated Utilities  Generation, transmission and distribution of electricity for sale to retail and wholesale customers through assets owned and operated by AEGCo, APCo, I&amp;M, KGPCo, KPCo, PSO, SWEPCo and WPCo. Transmission and Distribution Utilities  Transmission and distribution of electricity for sale to retail and wholesale customers through assets owned and operated by OPCo and AEP Texas.  OPCo purchases energy and capacity to serve SSO customers and provides transmission and distribution services for all connected load.  With the merger of TCC and TNC into AEP Utilities, Inc. to form AEP Texas, the Transmission and Distribution segment now includes certain activities related to the former AEP Utilities, Inc. that had been included in Corporate and Other. AEP Transmission Holdco  Development, construction and operation of transmission facilities through investments in AEPs wholly-owned transmission-only subsidiaries and transmission-only joint ventures. These investments have PUCT-approved or FERC-approved returns on equity. Generation &amp; Marketing  Competitive generation in ERCOT and PJM.  Marketing, risk management and retail activities in ERCOT, PJM, SPP and MISO.  Contracted renewable energy investments and management services. The remainder of AEPs activities is presented as Corporate and Other. While not considered a reportable segment, Co