Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2021

Schedule of property, plant and equipment

Pinnacle West’s property, plant and equipment included in the December 31, 2021, and 2020 Consolidated Balance Sheets is composed of the following (dollars in thousands):


Property, Plant and Equipment:	2021		2020
Generation	$	9,480,572	$	9,199,012
Transmission	3,402,016		3,290,477
Distribution	7,520,016		7,107,007
General plant	1,286,057		1,241,389
Plant in service and held for future use	21,688,661		20,837,885
Accumulated depreciation and amortization	(7,504,603)		(7,110,310)
Net	14,184,058		13,727,575
Construction work in progress	1,329,478		937,384
Palo Verde sale leaseback, net of accumulated depreciation	94,166		98,036
Intangible assets, net of accumulated amortization	273,693		282,570
Nuclear fuel, net of accumulated amortization	106,039		113,645
Total property, plant and equipment	$	15,987,434	$	15,159,210

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,
	2021		2020		2019
Cash paid (received) during the period for:
Income taxes, net of refunds	$	229	$	(3,019)	$	12,535
Interest, net of amounts capitalized	227,584		216,951		218,664
Significant non-cash investing and financing activities:
Accrued capital expenditures	$	167,733	$	113,502	$	141,297
Dividends declared but not paid	95,988		93,531		87,982

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


	Year ended December 31,
	2021		2020		2019
Cash paid (received) during the period for:
Income taxes, net of refunds	$	19,783	$	41,176	$	(15,042)
Interest, net of amounts capitalized	217,749		206,328		204,261
Significant non-cash investing and financing activities:
Accrued capital expenditures	$	167,657	$	113,502	$	141,297
Dividends declared but not paid	96,000		93,500		88,000