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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
OPERATING REVENUES $ 3,495,443 $ 3,491,632 $ 3,454,628
OPERATING EXPENSES      
Fuel and purchased power 1,101,298 1,179,829 1,095,709
Operations and maintenance 868,377 908,025 924,727
Depreciation and amortization 494,422 417,358 415,708
Taxes other than income taxes 171,812 172,295 164,167
Other expenses 4,932 2,883 7,994
Total 2,640,841 2,680,390 2,608,305
OPERATING INCOME 854,602 811,242 846,323
OTHER INCOME (DEDUCTIONS)      
Allowance for equity funds used during construction (Note 1) 35,215 30,790 25,581
Other income (Note 17) 621 9,608 1,704
Other expense (Note 17) (17,823) (21,746) (16,024)
Total 18,013 18,652 11,261
INTEREST EXPENSE      
Interest charges 194,964 200,950 201,888
Allowance for borrowed funds used during construction (Note 1) (16,259) (15,457) (14,861)
Total 178,705 185,493 187,027
INCOME BEFORE INCOME TAXES 693,910 644,401 670,557
INCOME TAXES (Note 4) 237,720 220,705 230,591
NET INCOME 456,190 423,696 439,966
Less: Net income attributable to noncontrolling interests (Note 18) 18,933 26,101 33,892
NET INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS $ 437,257 $ 397,595 $ 406,074
Weighted Average common shares outstanding — basic (in shares) 111,026 110,626 109,984
Weighted Average common shares outstanding — diluted (in shares) 111,552 111,178 110,806
EARNINGS PER WEIGHTED-AVERAGE COMMON SHARE OUTSTANDING      
Net income attributable to common shareholders - basic (in dollars per share) $ 3.94 $ 3.59 $ 3.69
Net income attributable to common shareholders — diluted (in dollars per share) $ 3.92 $ 3.58 $ 3.66
ARIZONA PUBLIC SERVICE COMPANY      
ELECTRIC OPERATING REVENUES $ 3,492,357 $ 3,488,946 $ 3,451,251
OPERATING EXPENSES      
Fuel and purchased power 1,101,298 1,179,829 1,095,709
Operations and maintenance 853,135 882,442 897,824
Depreciation and amortization 494,298 417,264 415,612
Taxes other than income taxes 171,499 171,583 163,377
Income taxes (Note 4) 260,143 245,036 256,864
Total 2,880,373 2,896,154 2,829,386
OPERATING INCOME 611,984 592,792 621,865
OTHER INCOME (DEDUCTIONS)      
Income taxes (Note 4) 14,302 7,676 11,769
Allowance for equity funds used during construction (Note 1) 35,215 30,790 25,581
Other income (Note 17) 2,834 11,295 3,896
Other expense (Note 17) (19,019) (13,403) (20,449)
Total 33,332 36,358 20,797
INTEREST EXPENSE      
Interest on long-term debt 180,123 186,323 188,011
Interest on short-term borrowings 7,376 6,796 6,605
Debt discount, premium and expense 4,793 4,168 4,046
Allowance for borrowed funds used during construction (Note 1) (16,183) (15,457) (14,861)
Total 176,109 181,830 183,801
INCOME TAXES (Note 4) 245,841 237,360 245,095
NET INCOME 469,207 447,320 458,861
Less: Net income attributable to noncontrolling interests (Note 18) 18,933 26,101 33,892
NET INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS $ 450,274 $ 421,219 $ 424,969