EX-99.2 13 p72717exv99w2.htm EXHIBIT 99.2 exv99w2
 

Exhibit 99.2
ARIZONA PUBLIC SERVICE COMPANY
NON-GAAP FINANCIAL MEASURE RECONCILIATION — OPERATING INCOME
(GAAP MEASURE) TO GROSS MARGIN (NON-GAAP FINANCIAL MEASURE)
(in thousands)
                                 
    THREE MONTHS ENDED        
    JUNE 30,     Increase (Decrease)  
    2006     2005     Pretax     After Tax  
RECONCILIATION OF GROSS MARGIN
                                
Operating Income (closest GAAP measure)
   $ 119,967     $ 95,321     $ 24,646     $ 15,022  
Plus:
                                
Operations and maintenance
     164,373       138,314       26,059       15,883  
Depreciation and amortization
     87,969       76,808       11,161       6,803  
Income taxes
     46,650       41,772       4,878       2,973  
Other taxes
     32,666       31,322       1,344       819  
 
                        
 
                                
Gross margin
   $ 451,625     $ 383,537     $ 68,088     $ 41,500  
 
                        

 

 

ARIZONA PUBLIC SERVICE COMPANY
NON-GAAP FINANCIAL MEASURE RECONCILIATION — OPERATING INCOME
(GAAP MEASURE) TO GROSS MARGIN (NON-GAAP FINANCIAL MEASURE)
(in thousands)
                                 
    SIX MONTHS ENDED        
    JUNE 30,     Increase (Decrease)  
    2006     2005     Pretax     After Tax  
RECONCILIATION OF GROSS MARGIN
                                
Operating Income (closest GAAP measure)
   $ 145,011     $ 154,064     $ (9,053 )   $ (5,518 )
Plus:
                                
Operations and maintenance
     337,726       280,608       57,118       34,813  
Depreciation and amortization
     174,280       159,022       15,258       9,300  
Income taxes
     43,621       58,152       (14,531 )     (8,857 )
Other taxes
     68,214       62,767       5,447       3,320  
 
                        
 
                                
Gross margin
   $ 768,852     $ 714,613     $ 54,239     $ 33,058