Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2018

Schedule of property, plant and equipment

Pinnacle West’s property, plant and equipment included in the December 31, 2018 and 2017 Consolidated Balance Sheets is composed of the following (dollars in thousands):



Property, Plant and Equipment:	2018			2017
Generation	$	8,285,514		$	7,963,998
Transmission	3,033,579			2,836,578
Distribution	6,378,345			6,025,856
General plant	1,039,190			971,629
Plant in service and held for future use	18,736,628			17,798,061
Accumulated depreciation and amortization	(6,366,014		)	(6,128,535		)
Net	12,370,614			11,669,526
Construction work in progress	1,170,062			1,291,498
Palo Verde sale leaseback, net of accumulated depreciation	105,775			109,645
Intangible assets, net of accumulated amortization	262,902			257,189
Nuclear fuel, net of accumulated amortization	120,217			117,408
Total property, plant and equipment	$	14,029,570		$	13,445,266

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,
	2018		2017		2016
Cash paid during the period for:
Income taxes, net of refunds	$	21,173	$	2,186	$	9,956
Interest, net of amounts capitalized	208,479		189,288		184,462
Significant non-cash investing and financing activities:
Accrued capital expenditures	$	132,620	$	130,404	$	114,855
Dividends declared but not paid	82,675		77,667		72,926
Sale of 4CA 7% interest in Four Corners	68,907		—		—