APS 2011 Annual Report Download - page 107
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82
PINNACLE WEST CAPITAL CORPORATION
CONSOLIDATED BALANCE SHEETS
(dollars in thousands)
December 31,
2011 2010
LIABILITIES AND EQUITY
CURRENT LIABILITIES
Accounts payable $ 326,987 $ 236,354
Accrued taxes 120,289 104,711
Accrued interest 54,872 54,831
Short-term borrowings (Note 5) -- 16,600
Current maturities of long-term debt (Note 6) 477,435 631,879
Customer deposits 72,176 68,322
Liabilities from risk management activities (Note 18) 53,968 58,976
Deferred fuel and purchased power regulatory liability (Note 3) -- 58,442
Other regulatory liabilities (Note 3) 88,362 80,526
Other current liabilities 148,616 139,063
Total current liabilities 1,342,705 1,449,704
LONG-TERM DEBT LESS CURRENT MATURITIES (Note 6)
Long-term debt less current maturities 2,953,507 2,948,991
Palo Verde sale leaseback lessor notes less current
maturities (Note 20) 65,547 96,803
Total long-term debt less current maturities 3,019,054 3,045,794
DEFERRED CREDITS AND OTHER
Deferred income taxes (Note 4) 1,925,388 1,863,861
Regulatory liabilities (Notes 1 and 3) 737,332 614,063
Liability for asset retirements (Note 12) 279,643 328,571
Liabilities for pension and other postretirement
benefits (Note 8) 1,268,910 813,121
Liabilities from risk management activities (Note 18) 82,495 65,390
Customer advances 116,805 121,645
Coal mine reclamation 117,896 117,243
Unrecognized tax benefits (Note 4) 72,270 66,349
Other 217,934 132,031
Total deferred credits and other 4,818,673 4,122,274
COMMITMENTS AND CONTINGENCIES (SEE NOTES)
EQUITY (Note 7)
Common stock, no par value; authorized
150,000,000 shares, issued 109,356,974 at end of 2011
and 108,820,067 at end of 2010 2,444,247 2,421,372
Treasury stock at cost; 111,161 shares at end of 2011
and 50,410 at end of 2010 (4,717) (2,239)
Total common stock 2,439,530 2,419,133
Retained earnings 1,534,483 1,423,961
Accumulated other comprehensive loss:
Pension and other postretirement benefits (Note 8) (65,447) (59,420)
Derivative instruments (86,716) (100,347)
Total accumulated other comprehensive loss (152,163) (159,767)
Total shareholders’ equity 3,821,850 3,683,327
Noncontrolling interests (Note 20) 108,736 91,899
Total equity 3,930,586 3,775,226
TOTAL LIABILITIES AND EQUITY $ 13,111,018 $ 12,392,998
See Notes to Pinnacle West’s Consolidated Financial Statements.