AEP TRANSMISSION COMPANY, LLC AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF INCOME For the Years Ended December 31, 2020, 2019 and 2018 (in millions) See Notes to Financial Statements of Registrants beginning on page 229. 153 Years Ended December 31, 2020 2019 2018 REVENUES Transmission Revenues $ 248.8  $ 214.6  $ 177.0  Sales to AEP Affiliates 896.3  806.7  598.9  Other Revenues 0.6  0.1  0.2  TOTAL REVENUES 1,145.7  1,021.4  776.1  EXPENSES Other Operation 99.8  93.9  83.8  Maintenance 10.2  15.4  10.5  Depreciation and Amortization 249.0  176.0  133.9  Taxes Other Than Income Taxes 205.2  168.9  137.8  TOTAL EXPENSES 564.2  454.2  366.0  OPERATING INCOME 581.5  567.2  410.1  Other Income (Expense): Interest Income - Affiliated 2.4  3.0  2.5  Allowance for Equity Funds Used During Construction 74.0  84.3  70.6  Interest Expense (127.8) (97.4) (83.2) INCOME BEFORE INCOME TAX EXPENSE 530.1  557.1  400.0  Income Tax Expense 106.7  117.4  84.1  NET INCOME $ 423.4  $ 439.7  $ 315.9 