APS 2013 Annual Report Download - page 155
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Table of Contents
PINNACLE WEST CAPITAL CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
Fair Value
Total
Unrealized
Gains
Total
Unrealized
Losses
December 31, 2013
Equity securities $ 272 $ 129 $ —
Fixed income securities 373 11 (6)
Net payables (a) (3) — —
Total $ 642 $ 140 $ (6)
Fair Value
Total
Unrealized
Gains
Total
Unrealized
Losses
December 31, 2012
Equity securities $204 $67 $ —
Fixed income securities 371 24 —
Net payables (a) (4) — —
Total $571 $91 $ —
(a) Net payables relate to pending purchases and sales of securities.
The costs of securities sold are determined on the basis of specific identification. The following table sets forth approximate gains and losses and
proceeds from the sale of securities by the nuclear decommissioning trust funds (dollars in millions):
Year Ended December 31,
2013 2012 2011
Realized gains $ 6 $ 7 $ 8
Realized losses (7)(4) (5)
Proceeds from the sale of securities (a) 446 418 498
(a) Proceeds are reinvested in the trust.
The fair value of fixed income securities, summarized by contractual maturities, at December 31, 2013 is as follows (dollars in millions):
Fair Value
Less than one year $ 9
1 year – 5 years 109
5 years – 10 years 108
Greater than 10 years 147
Total $373
151