XML 87 R5.htm IDEA: XBRL DOCUMENT v3.19.3
CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
$ in Thousands
Sep. 30, 2019
Dec. 31, 2018
Dec. 31, 2017
CURRENT ASSETS      
Cash and cash equivalents $ 29,852 $ 5,766  
Customer and other receivables 361,951 267,887  
Accrued unbilled revenues 155,836 137,170  
Allowance for doubtful accounts (7,282) (4,069)  
Materials and supplies (at average cost) 293,899 269,065  
Fossil fuel (at average cost) 18,527 25,029  
Income tax receivable 14,063   $ 0
Assets from risk management activities (Note 7) 817 1,113  
Deferred fuel and purchased power regulatory asset (Note 4) 59,474 37,164  
Other regulatory assets (Note 4) 138,033 129,738  
Other current assets 67,985 56,128  
Total current assets 1,133,155 924,991  
INVESTMENTS AND OTHER ASSETS      
Nuclear decommissioning trust (Notes 11 and 12) 967,673 851,134  
Other special use funds (Notes 11 and 12) 243,982 236,101  
Other assets 102,116 103,247  
Total investments and other assets 1,313,771 1,190,482  
PROPERTY, PLANT AND EQUIPMENT      
Plant in service and held for future use 19,677,773 18,736,628  
Accumulated depreciation and amortization (6,552,177) (6,366,014)  
Net 13,125,596 12,370,614  
Construction work in progress 738,492 1,170,062  
Palo Verde sale leaseback, net of accumulated depreciation (Note 6) 102,873 105,775  
Intangible assets, net of accumulated amortization 266,587 262,902  
Nuclear fuel, net of accumulated amortization 141,903 120,217  
Total property, plant and equipment 14,375,451 14,029,570  
DEFERRED DEBITS      
Regulatory assets (Note 4) 1,329,446 1,342,941  
Operating lease right-of-use assets (Note 16) 156,050 0  
Assets for other postretirement benefits (Note 5) 31,717 46,906  
Other 37,976 129,312  
Total deferred debits 1,555,189 1,519,159  
TOTAL ASSETS 18,377,566 17,664,202  
CURRENT LIABILITIES      
Accounts payable 276,117 277,336  
Accrued taxes 220,930 154,819  
Accrued interest 50,993 61,107  
Common dividends payable 0 82,675  
Short-term borrowings (Note 3) 57,375 76,400  
Current maturities of long-term debt (Note 3) 450,000 500,000  
Customer deposits 78,173 91,174  
Liabilities from risk management activities (Note 7) 44,349 35,506  
Liabilities for asset retirements 12,850 19,842  
Operating lease liabilities (Note 16) 26,221 0  
Regulatory liabilities (Note 4) 208,022 165,876  
Other current liabilities 161,716 184,229  
Total current liabilities 1,586,746 1,648,964  
Long-term debt less current maturities (Note 3) 4,984,996 4,638,232  
DEFERRED CREDITS AND OTHER      
Deferred income taxes 1,975,989 1,807,421  
Regulatory liabilities (Note 4) 2,310,131 2,325,976  
Liabilities for asset retirements 736,079 706,703  
Liabilities for pension benefits (Note 5) 297,843 443,170  
Liabilities from risk management activities (Note 7) 27,305 24,531  
Customer advances 192,374 137,153  
Coal mine reclamation 165,695 212,785  
Deferred investment tax credit 193,118 200,405  
Unrecognized tax benefits 6,341 22,517  
Operating lease liabilities (Note 16) 52,472 0  
Other 166,772 147,640  
Total deferred credits and other 6,124,119 6,028,301  
COMMITMENTS AND CONTINGENCIES (SEE NOTE 8)  
EQUITY      
Common stock, no par value; authorized 150,000,000 shares, 112,403,751 and 112,159,896 issued at respective dates 2,654,430 2,634,265  
Treasury stock at cost; 57,947 and 58,135 shares at respective dates (5,117) (4,825)  
Total common stock 2,649,313 2,629,440  
Retained earnings 2,949,891 2,641,183  
Accumulated other comprehensive loss (46,538) (47,708)  
Total shareholders’ equity 5,552,666 5,222,915  
Noncontrolling interests (Note 6) 129,039 125,790  
Total equity 5,681,705 5,348,705 5,135,730
TOTAL LIABILITIES AND EQUITY 18,377,566 17,664,202  
APS      
CURRENT ASSETS      
Cash and cash equivalents 29,542 5,707  
Customer and other receivables 351,029 257,654  
Accrued unbilled revenues 155,836 137,170  
Allowance for doubtful accounts (7,282) (4,069)  
Materials and supplies (at average cost) 293,899 269,065  
Fossil fuel (at average cost) 18,527 25,029  
Income tax receivable 15,982 0  
Assets from risk management activities (Note 7) 817 1,113  
Deferred fuel and purchased power regulatory asset (Note 4) 59,474 37,164  
Other regulatory assets (Note 4) 138,033 129,738  
Other current assets 45,506 35,111  
Total current assets 1,101,363 893,682  
INVESTMENTS AND OTHER ASSETS      
Nuclear decommissioning trust (Notes 11 and 12) 967,673 851,134  
Other special use funds (Notes 11 and 12) 243,982 236,101  
Other assets 55,846 40,817  
Total investments and other assets 1,267,501 1,128,052  
PROPERTY, PLANT AND EQUIPMENT      
Plant in service and held for future use 19,674,286 18,733,142  
Accumulated depreciation and amortization (6,548,921) (6,362,771)  
Net 13,125,365 12,370,371  
Construction work in progress 738,493 1,170,062  
Palo Verde sale leaseback, net of accumulated depreciation (Note 6) 102,873 105,775  
Intangible assets, net of accumulated amortization 266,432 262,746  
Nuclear fuel, net of accumulated amortization 141,903 120,217  
Total property, plant and equipment 14,375,066 14,029,171  
DEFERRED DEBITS      
Regulatory assets (Note 4) 1,329,446 1,342,941  
Operating lease right-of-use assets (Note 16) 154,205 0  
Assets for other postretirement benefits (Note 5) 28,071 43,212  
Other 37,080 128,265  
Total deferred debits 1,548,802 1,514,418  
TOTAL ASSETS 18,292,732 17,565,323  
CURRENT LIABILITIES      
Accounts payable 268,163 266,277  
Accrued taxes 215,320 176,357  
Accrued interest 48,374 60,228  
Common dividends payable 0 82,700  
Short-term borrowings (Note 3) 2,900 0  
Current maturities of long-term debt (Note 3) 450,000 500,000  
Customer deposits 78,173 91,174  
Liabilities from risk management activities (Note 7) 44,349 35,506  
Liabilities for asset retirements 12,850 19,842  
Operating lease liabilities (Note 16) 26,028 0  
Regulatory liabilities (Note 4) 208,022 165,876  
Other current liabilities 159,992 178,137  
Total current liabilities 1,514,171 1,576,097  
Long-term debt less current maturities (Note 3) 4,535,728 4,189,436  
DEFERRED CREDITS AND OTHER      
Deferred income taxes 1,976,662 1,812,664  
Regulatory liabilities (Note 4) 2,310,131 2,325,976  
Liabilities for asset retirements 736,079 706,703  
Liabilities for pension benefits (Note 5) 281,605 425,404  
Liabilities from risk management activities (Note 7) 27,305 24,531  
Customer advances 192,374 137,153  
Coal mine reclamation 165,695 212,785  
Deferred investment tax credit 193,118 200,405  
Unrecognized tax benefits 43,434 41,861  
Operating lease liabilities (Note 16) 50,669 0  
Other 143,190 125,511  
Total deferred credits and other 6,120,262 6,012,993  
COMMITMENTS AND CONTINGENCIES (SEE NOTE 8)  
EQUITY      
Total common stock 178,162 178,162  
Additional paid-in capital 2,721,696 2,721,696  
Retained earnings 3,119,977 2,788,256  
Accumulated other comprehensive loss (26,303) (27,107)  
Total shareholders’ equity 5,993,532 5,661,007  
Noncontrolling interests (Note 6) 129,039 125,790  
Total equity 6,122,571 5,786,797 $ 5,385,869
Total capitalization 10,658,299 9,976,233  
TOTAL LIABILITIES AND EQUITY $ 18,292,732 $ 17,565,323