APS 2013 Annual Report Download - page 119
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Table of Contents
PINNACLE WEST CAPITAL CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
The following table shows the projected benefit obligation and the accumulated benefit obligation for pension plans with an accumulated obligation in
excess of plan assets as of December 31, 2013 and 2012 (dollars in thousands):
2013 2012
Projected benefit obligation $2,646,530 $2,850,846
Accumulated benefit obligation 2,469,889 2,646,306
Fair value of plan assets 2,264,121 2,079,181
The following table shows the amounts recognized on the Consolidated Balance Sheets as of December 31, 2013 and 2012 (dollars in thousands):
Pension Other Benefits
2013 2012 2013 2012
Current liability $(10,860) $ (19,107) $ — $ —
Noncurrent liability (371,549) (752,558)(142,079) (306,197)
Net amount recognized $(382,409)$(771,665)$(142,079)$ (306,197)
The following table shows the details related to accumulated other comprehensive loss as of December 31, 2013 and 2012 (dollars in thousands):
Pension Other Benefits
2013 2012 2013 2012
Net actuarial loss $344,540 $ 644,239 $ 57,816 $238,862
Prior service cost (credit) 2,072 3,169 (296)(475)
APS’s portion recorded as a regulatory asset (265,107) (550,471) (49,298)(230,020)
Income tax benefit (32,204)(38,303)(2,528)(2,585)
Accumulated other comprehensive loss $49,301 $58,634 $5,694 $5,782
The following table shows the estimated amounts that will be amortized from accumulated other comprehensive loss and regulatory assets into net
periodic benefit cost in 2014 (dollars in thousands):
Pension
Other
Benefits
Net actuarial loss $ 8,363 $ —
Prior service cost (credit) 874 (179)
Total amounts estimated to be amortized from accumulated other comprehensive loss and
regulatory assets in 2014 $9,237 $ (179)
115