APS 2011 Annual Report Download - page 147
Download and view the complete annual report
Please find page 147 of the 2011 APS annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.-
1 -
2
-
3
-
4
-
5
-
6
-
7
-
8
-
9
-
10
-
11
-
12
-
13
-
14
-
15
-
16
-
17
-
18
-
19
-
20
-
21
-
22
-
23
-
24
-
25
-
26
-
27
-
28
-
29
-
30
-
31
-
32
-
33
-
34
-
35
-
36
-
37
-
38
-
39
-
40
-
41
-
42
-
43
-
44
-
45
-
46
-
47
-
48
-
49
-
50
-
51
-
52
-
53
-
54
-
55
-
56
-
57
-
58
-
59
-
60
-
61
-
62
-
63
-
64
-
65
-
66
-
67
-
68
-
69
-
70
-
71
-
72
-
73
-
74
-
75
-
76
-
77
-
78
-
79
-
80
-
81
-
82
-
83
-
84
-
85
-
86
-
87
-
88
-
89
-
90
-
91
-
92
-
93
-
94
-
95
-
96
-
97
-
98
-
99
-
100
-
101
-
102
-
103
-
104
-
105
-
106
-
107
-
108
-
109
-
110
-
111
-
112
-
113
-
114
-
115
-
116
-
117
-
118
-
119
-
120
-
121
-
122
-
123
-
124
-
125
-
126
-
127
-
128
-
129
-
130
-
131
-
132
-
133
-
134
-
135
-
136
-
137 -
138 -
139 -
140 -
141 -
142 -
143 -
144 -
145 -
146 -
147 -
148 -
149 -
150 -
151 -
152 -
153 -
154 -
155 -
156 -
157 -
158
-
159
-
160
-
161
-
162
-
163
-
164
-
165
-
166
-
167
-
168
-
169
-
170
-
171
-
172
-
173
-
174
-
175
-
176
-
177
-
178
-
179
-
180
-
181
-
182
-
183
-
184
-
185
-
186
-
187
-
188
-
189
-
190
-
191
-
192
-
193
-
194
-
195
-
196
-
197
-
198
-
199
-
200
-
201
-
202
-
203
-
204
-
205
-
206
-
207
-
208
-
209
-
210
-
211
-
212
-
213
-
214
-
215
-
216
-
217
-
218
-
219
-
220
-
221
-
222
-
223
-
224
-
225
-
226
-
227
-
228
-
229
-
230
-
231
-
232
-
233
-
234
-
235
-
236
-
237
-
238
-
239
-
240
-
241
-
242
-
243
-
244
-
245
-
246
-
247
-
248
 |
 |
PINNACLE WEST CAPITAL CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
122
In 1986, APS entered into agreements with three separate lessor trust entities in order to sell
and lease back interests in Palo Verde Unit 2 and related common facilities. These lessor trust entities
have been deemed variable interest entities for which APS is the primary beneficiary. As the primary
beneficiary APS consolidated these lessor trust entities. The above lease disclosures exclude the
impacts of these sale leaseback transactions, as lease accounting for these agreements is eliminated
upon consolidation. See Note 20 for a discussion of VIEs.
10. Jointly-Owned Facilities
APS shares ownership of some of its generating and transmission facilities with other
companies. Our share of operations and maintenance expense and utility plant costs related to these
facilities is accounted for using proportional consolidation. The following table shows APS’s interests
in those jointly-owned facilities recorded on the Consolidated Balance Sheets at December 31, 2011
(dollars in thousands):
Percent
Owned
Plant in
Service
Accumulated
Depreciation
Construction
Work in
Progress
Generating facilities:
Palo Verde Units 1 and 3 29.1% $ 2,061,894 $ 1,154,141 $ 66,558
Palo Verde Unit 2 (a) 17.0% 661,006 365,704 33,032
Palo Verde Sale Leaseback (a) 351,050 218,186 --
Four Corners Units 4 and 5 15.0% 165,139 104,910 2,357
Four Corners common 38.44% 16,413 5,997 750
Navajo Generating Station
Units 1, 2 and 3 14.0% 264,227 170,777 10,327
Cholla common facilities (b) 63.3%(c) 146,642 51,985 1,661
Transmission facilities:
ANPP 500kV System 33.0%(c) 88,451 30,123 10,161
Navajo Southern System 25.9%(c) 51,174 15,161 920
Palo Verde – Yuma 500kV
System 44.1%(c) 8,816 4,331 --
Four Corners Switchyards 39.6%(c) 19,630 5,696 1,004
Phoenix – Mead System 17.5%(c) 39,374 10,731 --
Palo Verde – Estrella 500kV
System 50.0%(c) 85,643 11,769 3,445
North Valley System 69.3%(c) 95,057 1,757 3,821
Round Valley System 50.0%(c) 570 320 --
(a) See Note 20.
(b) PacifiCorp owns Cholla Unit 4 and APS operates the unit for PacifiCorp. The common
facilities at Cholla are jointly-owned.
(c) Weighted average of interests.