APS 2012 Annual Report Download - page 182

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157
ARIZONA PUBLIC SERVICE COMPANY
CONSOLIDATED STATEMENTS OF INCOME
(dollars in thousands)
Year Ended December 31,
2012
2011
2010
ELECTRIC OPERATING REVENUES
$ 3,293,489
$ 3,237,241
$ 3,180,807
OPERATING EXPENSES
Fuel and purchased power
994,790
1,009,464
1,046,815
Operations and maintenance
873,916
895,917
860,712
Depreciation and amortization
404,242
426,958
414,336
Income taxes (Notes 4 and S-1)
256,600
204,066
175,440
Taxes other than income taxes
158,412
146,453
134,467
Total
2,687,960
2,682,858
2,631,770
OPERATING INCOME
605,529
554,383
549,037
OTHER INCOME (DEDUCTIONS)
Income taxes (Notes 4 and S-1)
12,204
11,524
4,975
Allowance for equity funds used
during construction (Note 1)
22,436
23,707
22,066
Other income (Note S-3)
2,868
5,071
8,956
Other expense (Note S-3)
(21,150)
(15,328)
(15,859)
Total
16,358
24,974
20,138
INTEREST EXPENSE
Interest on long-term debt
198,398
218,981
217,002
Interest on short-term borrowings
7,135
10,345
8,267
Debt discount, premium and expense
4,215
4,616
4,559
Allowance for borrowed funds used
during construction (Note 1)
(14,971) (18,358) (16,479)
Total
194,777
215,584
213,349
NET INCOME
427,110
363,773
355,826
Less: Net income attributable to
noncontrolling interests (Note 20)
31,613 27,524 20,163
NET INCOME ATTRIBUTABLE TO
COMMON SHAREHOLDER
$ 395,497 $ 336,249 $ 335,663
See Notes to Pinnacle West’s Consolidated Financial Statements and Supplemental Notes to Arizona
Public Service Company’s Consolidated Financial Statements.