SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 11-K (Mark One) [ X ] ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2000 OR [ ] TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to ---------- ---------- AMERICAN ELECTRIC POWER SYSTEM RETIREMENT SAVINGS PLAN (Full title of the plan) AMERICAN ELECTRIC POWER COMPANY, INC. 1 Riverside Plaza, Columbus, Ohio 43215 (Name of issuer of the securities held pursuant to the plan and the address of its principal executive office) 1 AMERICAN ELECTRIC POWER SYSTEM RETIREMENT SAVINGS PLAN TABLE OF CONTENTS PAGE SIGNATURES. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 INDEPENDENT AUDITORS' REPORT. . . . . . . . . . . . . . . . . . . . . . . 4 FINANCIAL STATEMENTS: Statements of Net Assets Available for Benefits . . . . . . . . . . . . . 5 Statements of Changes in Net Assets Available for Benefits. . . . . . . . 6 Notes to Financial Statements . . . . . . . . . . . . . . . . . . . . 7-11 SUPPLEMENTAL SCHEDULE: I. Assets Held for Investment Purposes . . . . . . . . . . . . . . . .12-13 EXHIBITS: Exhibit Index . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14 Consent of Independent Auditors . . . . . . . . . . . . . . . . . . . . 15 2 AMERICAN ELECTRIC POWER SYSTEM RETIREMENT SAVINGS PLAN SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Employee Benefit Trusts Committee has duly caused this annual report to be signed by the undersigned thereunto duly authorized. By: /s/ J. Steven Kiser ---------------------------------------- J. Steven Kiser, Secretary Employee Benefit Trusts Committee Date: June 15, 2001 3 INDEPENDENT AUDITORS' REPORT American Electric Power Service Corporation, as Plan Administrator: We have audited the accompanying statements of net assets available for benefits of the American Electric Power System Retirement Savings Plan (formerly the American Electric Power System Employees Savings Plan hereafter referred to as the Plan) as of December 31, 2000 and 1999, and the related statements of changes in net assets available for benefits for the years then ended. These financial statements are the responsibility of the Plan's management. Our responsibility is to express an opinion on these financial statements based on our audits. We conducted our audits in accordance with auditing standards generally accepted in the United States of America. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by Plan management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion. In our opinion, such financial statements present fairly, in all material respects, the net assets available for benefits of the Plan as of December 31, 2000 and 1999, and the changes in net assets available for benefits for the years then ended in conformity with accounting principles generally accepted in the United States of America. Our audits were conducted for the purpose of forming an opinion on the basic financial statements taken as a whole. The supplemental schedule listed in the Table of Contents is presented for the purpose of additional analysis and is not a required part of the basic financial statements but is supplementary information required by the Department of Labor's Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974 (ERISA). This supplemental schedule is the responsibility of the Plan's management. The supplemental schedule has been subjected to the auditing procedures applied in the audits of the basic financial statements and, in our opinion, is fairly stated in all material respects when considered in relation to the basic financial statements taken as a whole. DELOITTE & TOUCHE LLP Columbus, Ohio June 15, 2001 4 AMERICAN ELECTRIC POWER SYSTEM RETIREMENT SAVINGS PLAN STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS December 31, 2000 ------------------------------------------------ Participant Non-Participant Directed Directed Total ASSETS: Investments: Group Annuity, Bank Investment and Other Fixed Income Contracts $ 503,673,194 $ - $ 503,673,194 American Electric Power Company, Inc. - Common Stock 411,360,904 94,396,021 505,756,925 Registered Investment Company 844,269,352 - 844,269,352 Fidelity Institutional Cash Portfolio Fund 16,460,689 3,719,060 20,179,749 Participant Loans 16,722,513 - 16,722,513 Total Investments 1,792,486,652 98,115,081 1,890,601,733 Other Receivables - 2,371,909 2,371,909 NET ASSETS AVAILABLE FOR BENEFITS $1,792,486,652 $ 100,486,990 $1,892,973,642 See notes to financial statements AMERICAN ELECTRIC POWER SYSTEM RETIREMENT SAVINGS PLAN STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS December 31,1999 ------------------------------------------------ Participant Non-Participant Directed Directed Total ASSETS: Investments: Group Annuity, Bank Investment and Other Fixed Income Contracts $ 550,523,449 $ - $ 550,523,449 American Electric Power Company, Inc. - Common Stock 268,624,305 60,729,258 329,353,563 Registered Investment Company 932,537,562 - 932,537,562 Fidelity Institutional Cash Portfolio Fund 22,058,652 10,509,998 32,568,650 Participant Loans 16,872,096 - 16,872,096 Total Investments 1,790,616,064 71,239,256 1,861,855,320 Other Receivables - 251,492 251,492 NET ASSETS AVAILABLE FOR BENEFITS $1,790,616,064 $ 71,490,748 $1,862,106,812 See notes to financial statements 5 AMERICAN ELECTRIC POWER SYSTEM RETIREMENT SAVINGS PLAN STATEMENTS OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS DECEMBER 31, 2000 ----------------------------------------------------- Participant Non-Participant Directed Directed Total NET INVESTMENT INCOME: Interest $ 31,427,553 $ -- $ 31,427,553 Dividends 85,887,496 9,449,482 95,336,978 Net Appreciation (Depreciation) in Fair Value of Investments (42,448,846) 13,048,590 (29,400,256) Total Net Investment Income (Loss) 74,866,203 22,498,072 97,364,275 INTERFUND TRANSFERS 68,951 (68,951) -- TRANSFERS FROM OTHER QUALIFIED PLANS -- -- -- CONTRIBUTIONS: Participants 72,051,756 -- 72,051,756 Employer 7,831,419 13,059,761 20,891,180 Total Contributions 79,883,175 13,059,761 92,942,936 DISTRIBUTIONS TO PARTICIPANTS (152,947,741) (6,492,640) (159,440,381) INCREASE (DECREASE) IN NET ASSETS 1,870,588 28,996,242 30,866,830 NET ASSETS AVAILABLE FOR BENEFITS BEGINNING OF YEAR 1,790,616,064 71,490,748 1,862,106,812 NET ASSETS AVAILABLE FOR BENEFITS END OF YEAR $ 1,792,486,652 $ 100,486,990 $ 1,892,973,642 See notes to financial statements AMERICAN ELECTRIC POWER SYSTEM RETIREMENT SAVINGS PLAN STATEMENTS OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS DECEMBER 31, 1999 ----------------------------------------------------- Participant Non-Participant Directed Directed Total NET INVESTMENT INCOME: Interest $ 32,689,175 $ -- $ 32,689,175 Dividends 55,944,848 9,208,473 65,153,321 Net Appreciation (Depreciation) in Fair Value of Investments 77,854,246 (62,398,494) 15,455,752 Total Net Investment Income (Loss) 166,488,269 (53,190,021) 113,298,248 INTERFUND TRANSFERS 597,025 (597,025) -- TRANSFERS FROM OTHER QUALIFIED PLANS 7,931,925 -- 7,931,925 CONTRIBUTIONS: Participants 69,695,041 -- 69,695,041 Employer 7,518,794 13,046,803 20,565,597 Total Contributions 77,213,835 13,046,803 90,260,638 DISTRIBUTIONS TO PARTICIPANTS (139,021,135) (6,964,941) (145,986,076) INCREASE (DECREASE) IN NET ASSETS 113,209,919 (47,705,184) 65,504,735 NET ASSETS AVAILABLE FOR BENEFITS BEGINNING OF YEAR 1,677,406,145 119,195,932 1,796,602,077 NET ASSETS AVAILABLE FOR BENEFITS END OF YEAR $ 1,790,616,064 $ 71,490,748 $ 1,862,106,812 See notes to financial statements 6 AMERICAN ELECTRIC POWER SYSTEM RETIREMENT SAVINGS PLAN NOTES TO FINANCIAL STATEMENTS FOR THE YEARS ENDED DECEMBER 31, 2000 AND 1999 -------------------------------------------------------------------------------- 1. PLAN DESCRIPTION The following description of the American Electric Power System Retirement Savings Plan (formerly the American Electric Power System Employees Savings Plan hereafter referred to as the Plan) is provided for general information purposes only. Participants should refer to the Plan documents for more complete information. The Plan became effective and commenced operations on January 1, 1978. Effective August 1, 1998, employees were eligible to become participants in the Plan on the first day of the month following their first day of employment. Prior to August 1, 1998, employees who had completed 6 months of service, as defined in the Plan, could participate in the Plan. Participants may contribute, through payroll deductions, up to 6% of their regular compensation in 1% increments as a matched contribution to the Plan. The employer contributes an amount equal to 50% of participants' matched contributions. Employees who have elected to make a 6% matched contribution to the Plan may contribute up to an additional 11% of their base compensation in 1% increments as an unmatched contribution. Highly compensated employees are currently limited to an additional 10% of their base compensation. Additionally, employees may direct that their contributions be made on an after-tax basis and/or a pre-tax basis in accordance with Section 401(k) of the Internal Revenue Code (Code). An employee's taxable income for federal income tax is reduced by any pre-tax contribution. Certain restrictions, as defined by the Code, are placed on the availability of those pre-tax accumulated funds. Effective June 15, 2000, American Electric Power Company Inc. (the Company) entered into a merger with Central and South West Corporation (CSW). The merger agreement provided that the CSW qualified plans will remain in effect until July 1, 2002. The effect on the Plan subsequent to July 1, 2002 has not yet been determined. American Electric Power Service Corporation is the Plan Administrator (Plan Administrator). Fidelity Management Trust Company (Fidelity) is the Trustee for all funds except the Fixed Income Fund, and is the Recordkeeper for the entire Plan. Key Trust Company of Ohio, N.A. (Key Trust) is Trustee for the Fixed Income Fund. Employer contributions are invested solely in the AEP Stock Fund. Participants may direct the investment of their contributions to any combination of the following funds: The Fixed Income Fund, the objective of which is to invest in contracts with various insurance and financial institutions at varying annual interest rates, maturing over periods approximating five years or less and temporary investments in the Employee Benefits Money Market Fund and the Fidelity Institutional Cash Portfolio. The AEP Stock Fund, the objective of which is to invest in American Electric Power Company, Inc. (AEP) common stock and temporary investments in the Fidelity Institutional Cash Portfolio Money Market Fund. 7 The Fidelity Puritan Fund, the objective of which is to invest in a broadly diversified portfolio of domestic and foreign common stocks, and preferred stocks and bonds, including lower-quality, high-yield debt securities. The prospectus for the Puritan Fund indicates that the Puritan Fund is a growth and income fund. The Fidelity OTC Portfolio, the objective of which is to invest in common stocks, preferred stocks, securities convertible into common stocks, and debt securities that are traded on the over-the-counter (OTC) securities market. The prospectus for the OTC Portfolio indicates that the OTC Portfolio is a growth fund. The Fidelity Overseas Fund, the objective of which is to invest in foreign securities, including common stocks and securities convertible into common stocks, as well as debt instruments. The prospectus for the Overseas Fund indicates that the Overseas Fund is an international growth fund. The Fidelity Blue Chip Growth Fund, the objective of which is to invest in a diversified portfolio of common stocks of well-known and established domestic and foreign companies. The prospectus for the Blue Chip Growth Fund indicates that the Blue Chip Growth Fund is a growth fund. The Fidelity Equity-Income Fund, the objective of which is to seek reasonable income and also to consider the potential for capital appreciation. The fund seeks a yield that exceeds the yield on the securities comprising the Standard and Poor's 500 index and normally invests at least 65% of its total assets in income-producing equity securities, while potentially investing in other types of equity securities and debt securities, including lower-quality debt securities. The Fidelity Low-Priced Stock Fund, the objective of which is to seek capital appreciation by normally investing at least 65% of total assets in low-priced common stocks ($35 or less at time of purchase), which can lead to investments in small and medium-sized companies. The Fidelity Freedom Income Fund, the objective of which is to seek high current income and, secondarily, to seek capital appreciation. The fund invests in a combination of Fidelity equity, fixed-income, and money market funds (underlying Fidelity Funds) and allocates its assets among these funds according to a stable asset allocation strategy designed for investors already in retirement. The Fidelity Freedom 2000 Fund, the objective of which is to seek high total return, by investing in a combination of Fidelity equity, fixed-income, and money market funds (underlying Fidelity funds) and allocating its assets among these funds according to an asset allocation strategy that becomes increasingly conservative as Freedom 2000 approaches its target retirement date. Targeted to investors expected to retire around the year 2000. The Fidelity Freedom 2010 Fund, the objective of which is to seek high total return, by investing in a combination of Fidelity equity, fixed-income, and money market funds (underlying Fidelity funds) and allocating its assets among these funds according to an asset allocation strategy that becomes increasingly conservative as Freedom 2010 approaches its target retirement date. Targeted to investors expected to retire around the year 2010. 8 The Fidelity Freedom 2020 Fund, the objective of which is to seek high total return, by investing in a combination of Fidelity equity, fixed-income, and money market funds (underlying Fidelity funds) and allocating its assets among these funds according to an asset allocation strategy that becomes increasingly conservative as Freedom 2020 approaches its target retirement date. Targeted to investors expected to retire around the year 2020. The Fidelity Freedom 2030 Fund, the objective of which is to seek high total return, by investing in a combination of Fidelity equity, fixed-income, and money market funds (underlying Fidelity funds) and allocating its assets among these funds according to an asset allocation strategy that becomes increasingly conservative as Freedom 2030 approaches its target retirement date. Targeted to investors expected to retire around the year 2030. The Fidelity Freedom 2040 Fund, the objective of which is to seek high total return, by investing in a combination of Fidelity equity, fixed-income, and money market funds (underlying Fidelity funds) and allocating its assets among these funds according to an asset allocation strategy that becomes increasingly conservative as Freedom 2040 approaches its target retirement date. Targeted to investors expected to retire around the year 2040. The Fidelity Spartan U.S. Equity Index Portfolio, the objective of which is to invest in a group of common stocks. The prospectus for the Spartan U.S. Equity Index Portfolio indicates that the Spartan U.S. Equity Index Portfolio is a growth and income fund which is designed to approximate the composition and total return of the S&P 500. Participants may transfer the value of their own cumulative contributions, in any whole percentage or dollar amount, among investments, change their investment elections, and change their contribution percentage as often as they like. Effective January 1, 2001, except for their pre-tax contributions, participants may make an unlimited number of withdrawals of their interest in the Plan, including company matching contributions which are immediately vested. Pre-tax contributions are not eligible for withdrawal by participants not yet age 59-1/2. Participants age 50 and over may transfer a portion or all of the value of their employer contributions from the AEP Stock Fund, as often as they like. Participants may borrow from their savings plan accounts, a minimum of $1,000 up to a maximum equal to the lesser of $50,000 or 50% of their account balance. Loan terms range from six months to 54 months, or any monthly increment in-between. The loan period cannot extend beyond the date that the participant reaches age 70-1/2. Interest rates, fixed for the life of the loan, are calculated by adding 1% to the prime rate, as reported in the Eastern edition of the Wall Street Journal, in effect as of the first business day of the calendar quarter in which the loan is taken. Prior to April 1, 2000, there was a one-time loan processing fee of $35 and a loan maintenance fee of $3.75 per quarter. On April 1, 2000, loan fees were eliminated. Active employees make principal and interest payments through payroll deductions. Retirees/surviving spouses make monthly payments using a coupon book. 2. ACCOUNTING POLICIES The accompanying financial statements are prepared on the accrual basis of accounting. Investments have been recorded based on the trade-date and are reported in the Statements of Net Assets Available for Benefits at fair value or contract value. The AEP Stock Fund investments are valued at year-end quoted closing prices. The year-end valuations for the various Fidelity funds are based on the closing market prices for the underlying securities as provided by the Trustee. The Fixed Income Fund contracts are valued at book value which is equal to cost plus interest, as the contracts are fully benefit responsive. 9 Dividends and interest income are recorded as earned. These amounts are reinvested by the Trustees in the same funds which generated such income. Investment management fees are accounted for as a reduction in net investment income. All other Plan administration expenses are paid by the employer with the exception of per transaction charges for withdrawals and "minimum required distributions" which are borne by the participants. Distributions are recorded when paid. There were no amounts due to participants who requested distributions from the Plan for the years ended December 31, 2000 and 1999. The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. 3. INVESTMENT CONTRACT VALUATION The Plan has a fixed income fund with Key Trust as Trustee, which invests primarily in fully benefit responsive investment contracts. Key Trust maintains the assets in a custodian account. The account is credited with earnings on the underlying investments and charged for Plan withdrawals (credited interest rates ranged from 7.53% to 2.21% for 2000 and from 7.40% to 2.21% for 1999). The average yield was 5.82% and 5.85% for fiscal years ending December 31, 2000 and 1999, respectively. The investment is recorded in the financial statements based on the contract value of the underlying investment contracts, which approximates fair value, as reported to the Plan by Fidelity. Contract value represents contributions made under the contract, plus earnings, less withdrawals. 4. INVESTMENTS EXCEEDING 5% OF THE PLAN NET ASSETS Investments exceeding five percent of net assets were: Fair Value --------------------------- December 31, 2000 1999 ------------ ------------ AEP Common Stock - Participant Directed . . . $411,360,904 $268,624,305 AEP Common Stock - Non-Participant Directed . $ 94,396,021 $ 60,729,258 Fidelity Spartan U.S. Equity Index Portfolio. $280,004,061 $339,358,715 Fidelity Blue Chip Growth Fund. . . . . . . . $234,002,496 $255,397,831 Fidelity OTC Portfolio. . . . . . . . . . . . $169,033,714 $177,689,208 10 5. NET APPRECIATION (DEPRECIATION) IN FAIR VALUE OF INVESTMENTS During 2000 and 1999, the Plan's investments (including investments bought, sold as well as held during the year) appreciated (depreciated) in value by $(29,400,256) and $15,455,752, respectively, as follows: Fair Value --------------------------- December 31, 2000 1999 ------------ ------------ Investments at Fair Value: American Electric Power Company, Inc. - Common Stock. . . . . . . . . . . . . . . $ 161,293,077 $(147,854,918) Investments at Estimated Fair Value: Group Annuity, Bank Investment and Other Fixed Income Contracts. . . . . . . (190,693,333) 163,310,670 ------------- ------------- Total . . . . . . . . . . . . . . . . . $ (29,400,256) $ 15,455,752 ============= ============= 6. FEDERAL INCOME TAX The Internal Revenue Service (IRS) has determined that the Plan meets the requirements of Section 401(a) of the Code; therefore, the Plan is exempt from federal income tax pursuant to Section 501(a) of the Code. The Plan obtained its latest determination letter on November 13, 1997, in which the IRS stated that the Plan, as then designed, was in compliance with the applicable requirements of the Code. Under current income tax laws and regulations, participants are not subject to federal income tax on the employer contributions to their accounts or on the accumulated earnings on employee and employer contributions until such amounts are distributed to participants. Employees have the option to make contributions to the Plan on a pre-tax basis, in which case federal income tax is deferred until such amounts are distributed. 7. PLAN TERMINATION Although it has not expressed any intent to do so, the Company has the right under the Plan to discontinue its contributions at any time and to terminate the Plan subject to the provisions of ERISA. In the event of Plan termination, participants remain 100 percent vested in their accounts. 8. RELATED-PARTY TRANSACTIONS Certain Plan investments are shares of mutual funds managed by Fidelity Investments. Fidelity Investments is the trustee as defined by the Plan and, therefore, these transactions qualify as party-in-interest. 9. SUBSEQUENT EVENTS Effective January 1, 2001, the name of the American Electric Power System Employees Savings Plan was changed to the American Electric Power System Retirement Savings Plan. The Company's matching contribution was increased from 50% to 75% for the first 6% of employee contributions. Also, the total employee contributions increased from 17% to 20%, subject to Internal Revenue Service limitations on highly compensated participants. The definition of pay was expanded to include shift differential, Sunday premium pay, incentive pay and overtime pay, in addition to base pay. At termination, employees will have the option of rolling a lump sum payment from the AEP System Retirement Plan into the AEP System Retirement Savings Plan. 11 AMERICAN ELECTRIC POWER SYSTEM RETIREMENT SAVINGS PLAN SUPPLEMENTAL SCHEDULE I ------------------------------------------------------------------------------------------ ASSETS HELD FOR INVESTMENT PURPOSES AS OF DECEMBER 31, 2000 NUMBER OF FAIR/CONTRACT SHARES/UNITS VALUE COST --------------- -------------- -------------- THE FIXED INCOME FUND: Fixed Income Contract - AIG Life Insurance Company 7.53% effective annual yield to July 31, 2003. . . . . . . . . . . . 21,386,560 21,386,560 Group Annuity Contract - Business Men's Assurance 6.35% effective annual yield to January 31, 2001 . . . . . . . . . . 12,338,825 12,338,825 Group Annuity Contract - Monumental Life Insurance Company 7.40% effective annual yield to July 31, 2001. . . . . . . . . . . . 27,412,665 27,412,665 Group Annuity Contract - JP Morgan Securities, Inc. 5.98% effective annual yield to October 15, 2001 . . . . . . . . . . 26,345,176 26,345,176 Group Annuity Contract - J.P. Morgan #2 5.821% effective annual yield to July 25, 2005. . . . . . . . . . . . 24,035,403 24,035,403 Group Annuity Contract - National Westminster Bank 2.21% effective annual yield to October 31, 2005 . . . . . . . . . . 23,887,085 23,887,085 Group Annuity Contract - New York Life Insurance Company 6.08% effective annual yield to January 31, 2003 . . . . . . . . . . 27,487,086 27,487,086 Fixed Income Contract - Norwest Bank Minnesota variable annual yield with an indeterminate maturity date. . . . . 5,295,070 5,295,070 Group Annuity Contract - Ohio National Life Insurance Company 5.80% effective annual yield to October 7, 2002. . . . . . . . . . . 33,394,703 33,394,703 Group Annuity Contract - Pacific Mutual 6.32% effective annual yield to January 31, 2001 . . . . . . . . . . 9,023,717 9,023,717 Group Annuity Contract - Principle Mutual Life 6.00% effective annual yield to October 31, 2003 . . . . . . . . . . 39,985,654 39,985,654 Group Annuity Contract - Protective Life Insurance Company 5.95% effective annual yield to January 31, 2002 . . . . . . . . . . 33,847,955 33,847,955 12 AMERICAN ELECTRIC POWER SYSTEM RETIREMENT SAVINGS PLAN SUPPLEMENTAL SCHEDULE I ------------------------------------------------------------------------------------------ ASSETS HELD FOR INVESTMENT PURPOSES AS OF DECEMBER 31, 2000 (Continued) NUMBER OF FAIR/CONTRACT SHARES/UNITS VALUE COST --------------- -------------- -------------- THE FIXED INCOME FUND (Continued) Group Annuity Contract - Rabobank Nederland variable annual yield with an indeterminate maturity date. . . . . 55,934,118 55,934,118 Group Annuity Contract - Rabobank Nederland variable annual yield with an indeterminate maturity date. . . . . 55,940,894 55,940,894 Group Annuity Contract - Security Life of Denver Insurance Company 6.60% effective annual yield to August 3, 2004 . . . . . . . . . . . 27,364,047 27,364,047 Group Annuity Contract - Transamerica Life & Annuity variable annual yield with an indeterminate maturity date. . . . . 54,728,823 54,728,823 Group Annuity Contract - Transamerica 6.37% effective annual yield to April 30, 2003. . . . . . . . . . 25,265,413 25,265,413 -------------- -------------- Subtotal. . . . . . . . . . . . . . . 503,673,194 503,673,194 Fidelity Institutional Cash Portfolio Fund . . . . . . . . . . . 16,460,689 Units 16,460,689 16,460,689 -------------- -------------- TOTAL - THE FIXED INCOME FUND . . . $ 520,133,883 $ 520,133,883 -------------- -------------- THE AEP STOCK FUND: American Electric Power Company, Inc. Common Stock $6.50 par value . . . . 10,876,493 Shares $ 505,756,925 $ 332,419,056 Fidelity Institutional Cash Portfolio Fund . . . . . . . . . . . 3,719,060 Units 3,719,060 3,719,060 -------------- -------------- TOTAL - THE AEP STOCK FUND. . . . . $ 509,475,985 $ 336,138,116 -------------- -------------- REGISTERED INVESTMENT COMPANY: The Fidelity Puritan Fund. . . . . . . 2,858,978 Units $ 53,834,559 $ 52,527,118 The Fidelity OTC Portfolio . . . . . . 4,117,752 Units 169,033,714 205,711,434 The Fidelity Overseas Fund . . . . . . 900,865 Units 30,962,713 33,924,777 The Fidelity Blue Chip Growth Fund . . 4,541,092 Units 234,002,496 193,870,127 The Fidelity Equity Income Fund. . . . 72,791 Units 3,889,237 3,814,948 The Fidelity Low-Priced Stock Fund . . 181,672 Units 4,200,267 4,210,336 The Fidelity Freedom Income Fund . . . 1,004,870 Units 11,224,394 11,398,438 The Fidelity Freedom 2000 Fund . . . . 617,967 Units 7,298,190 7,974,878 The Fidelity Freedom 2010 Fund . . . . 1,730,818 Units 23,954,521 25,581,291 The Fidelity Freedom 2020 Fund . . . . 1,484,978 Units 21,621,274 23,923,763 The Fidelity Freedom 2030 Fund . . . . 278,828 Units 4,182,420 4,668,066 The Fidelity Freedom 2040 Fund . . . . 7,029 Units 61,506 63,669 The Fidelity Spartan U.S. Equity Index Portfolio. . . . . . . . . . . . . . 5,981,714 Units 280,004,061 184,536,746 -------------- -------------- TOTAL - REGISTERED INVESTMENT COMPANY $ 844,269,352 $ 752,205,591 -------------- -------------- PARTICIPANT LOANS (interest rate ranging from 8.75% through 9.5% maturing through October 2003) $ 16,722,513 $ 16,722,513 -------------- -------------- TOTAL INVESTMENTS . . . . . . . . . . . $1,890,601,733 $1,625,200,103 ============== ============== 13 AMERICAN ELECTRIC POWER SYSTEM RETIREMENT SAVINGS PLAN EXHIBIT INDEX -------------------------------------------------------------------------------- Page No. In this Exhibit No. Description Filing 23 Consent of Deloitte & Touche LLP 15 14 EXHIBIT 23 AMERICAN ELECTRIC POWER SYSTEM RETIREMENT SAVINGS PLAN CONSENT OF INDEPENDENT AUDITORS ----------------------------------------------------------------------- American Electric Power Company, Inc.: We consent to the incorporation by reference in Post-Effective Amendment No. 3 to Registration Statement No. 33-1052 of American Electric Power System Retirement Savings Plan (formerly the American Electric Power System Employees Saving Plan) on Form S-8 of our report dated June 15, 2001 appearing in this Annual Report on Form 11-K of American Electric Power System Retirement Savings Plan for the year ended December 31, 2000. DELOITTE & TOUCHE LLP Columbus, Ohio June 19, 2001 15