APS 2011 Annual Report Download - page 166
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PINNACLE WEST CAPITAL CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
141
17. Business Segments
Pinnacle West’s reportable business segment is our regulated electricity segment, which
consists of traditional regulated retail and wholesale electricity businesses (primarily electricity
service to Native Load customers) and related activities and includes electricity generation,
transmission and distribution.
Financial data for 2011, 2010 and 2009 is provided as follows (dollars in millions):
Business Segments for the Year Ended
December 31, 2011
Regulated
Electricity
Segment All other (a)
Total
Operating revenues $ 3,237 $ 4 $ 3,241
Fuel and purchased power costs 1,009 -- 1,009
Other operating expenses 1,055 3 1,058
Operating margin 1,173 1 1,174
Depreciation and amortization 427 -- 427
Interest expense 224 -- 224
Other expense (income) (19) 3 (16)
Income from continuing
operations before income taxes 541 (2) 539
Income taxes 184 (1) 183
Income from continuing
operations 357 (1) 356
Income from discontinued
operations – net of income
tax expense of $7 million
(see Note 21) -- 11 11
Net income 357 10 367
Less: Net income attributable to
noncontrolling interests 28 -- 28
Net income attributable to
common shareholders $ 329 $ 10 $ 339
Total assets $ 13,068 $ 43 $ 13,111
Capital expenditures $ 885 $ -- $ 885