Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2020

Schedule of property, plant and equipment

Pinnacle West’s property, plant and equipment included in the December 31, 2020 and 2019 Consolidated Balance Sheets is composed of the following (dollars in thousands):


Property, Plant and Equipment:	2020		2019
Generation	$	9,199,012	$	8,916,872
Transmission	3,290,477		3,095,907
Distribution	7,107,007		6,690,697
General plant	1,241,389		1,132,816
Plant in service and held for future use	20,837,885		19,836,292
Accumulated depreciation and amortization	(7,110,310)		(6,637,857)
Net	13,727,575		13,198,435
Construction work in progress	937,384		808,133
Palo Verde sale leaseback, net of accumulated depreciation	98,036		101,906
Intangible assets, net of accumulated amortization	282,570		290,564
Nuclear fuel, net of accumulated amortization	113,645		123,500
Total property, plant and equipment	$	15,159,210	$	14,522,538

Summary of supplemental cash flow information

The following table summarizes supplemental Pinnacle West cash flow information for each of the last three years (dollars in thousands):


	Year ended December 31,
	2020		2019		2018
Cash paid (received) during the period for:
Income taxes, net of refunds	$	(3,019)	$	12,535	$	21,173
Interest, net of amounts capitalized	216,951		218,664		208,479
Significant non-cash investing and financing activities:
Accrued capital expenditures	$	113,502	$	141,297	$	132,620
Dividends declared but not paid	93,531		87,982		82,675

Sale of 4CA 7% interest in Four Corners	—		—		68,907

The following table summarizes supplemental APS cash flow information for each of the last three years (dollars in thousands):


	Year ended December 31,
	2020		2019		2018
Cash paid (received) during the period for:
Income taxes, net of refunds	$	41,176	$	(15,042)	$	77,942
Interest, net of amounts capitalized	206,328		204,261		196,419
Significant non-cash investing and financing activities:
Accrued capital expenditures	$	113,502	$	141,297	$	132,620
Dividends declared but not paid	93,500		88,000		82,700