APS 2012 Annual Report Download - page 191
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ARIZONA PUBLIC SERVICE COMPANY
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
166
Year Ended December 31,
2012
2011
2010
Current:
Federal
$ (11,650)
$ 4,633
$ (71,036)
State
12,308
19,104
17,406
Total current
658
23,737
(53,630)
Deferred:
Federal
216,367
154,632
207,334
State
27,371
14,173
16,761
Total deferred
243,738
168,805
224,095
Total income tax expense
$ 244,396
$ 192,542
$ 170,465
On the APS Statements of Income, federal and state income taxes are allocated between
operating income and other income.
The following chart compares APS’s pretax income at the 35% federal income tax rate to
income tax expense (dollars in thousands):