AEPTCo Years Ended December 31, 2020 2019 2018 (in millions) Net Income $ 423.4  $ 439.7  $ 315.9  Income Tax Expense 106.7  117.4  84.1  Pretax Income $ 530.1  $ 557.1  $ 400.0  Income Taxes on Pretax Income at Statutory Rate (21%) $ 111.3  $ 117.0  $ 84.0  Increase (Decrease) in Income Taxes Resulting from the Following Items: State and Local Income Taxes, Net 15.1  17.4  12.6  AFUDC (15.5) (17.7) (14.1) Parent Company Loss Benefit (7.0) (4.2) (0.6) Other 2.8  4.9  2.2  Income Tax Expense $ 106.7  $ 117.4  $ 84.1  Effective Income Tax Rate 20.1  % 21.1  % 21.0  % APCo Years Ended December 31, 2020 2019 2018 (in millions) Net Income $ 369.7  $ 306.3  $ 367.8  Income Tax Expense (Benefit) 4.3  (78.0) (44.9) Pretax Income $ 374.0  $ 228.3  $ 322.9  Income Taxes on Pretax Income at Statutory Rate (21%) $ 78.5  $ 47.9  $ 67.8  Increase (Decrease) in Income Taxes Resulting from the Following Items: Depreciation 12.7  10.8  9.4  State and Local Income Taxes, Net 7.9  9.0  9.1  Removal Costs (5.7) (6.4) (7.9) AFUDC (4.5) (5.2) (4.3) Parent Company Loss Benefit (6.2) (4.1) (3.6) Tax Reform Excess ADIT Reversal (72.3) (130.4) (108.5) Federal Return to Provision (7.2) (1.0) (6.6) Other 1.1  1.4  (0.3) Income Tax Expense (Benefit) $ 4.3  $ (78.0) $ (44.9) Effective Income Tax Rate 1.1  % (34.2) % (13.9) % 351