APS 2014 Annual Report Download

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(Full title of the plan)
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(Name of issuer)
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(Address of issuer’s principal executive office)

Table of contents

  • Page 1
    ... year ended December 31, 2014 OR o TRTNSITION REPORT PURSUTNT TO 15(d) OF THE SECURITIES EXCHTNGE TCT OF 1934. to For the transition period from Commission file number 1-8962 The Pinnacle West Capital Corporation Savings Plan (Full title of the plan) Pinnacle West Capital Corporation (Name...

  • Page 2
    ...Schedule of Assets (Held at End of Year) as of December 31, 2014 EXHIBITS FILED SIGNATURE 17-39 40 41 2 3 4-16 1 NOTE: Supplemental schedules required by section 2520.103-10 of the Department of Labor's Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security...

  • Page 3
    ...Pinnacle West Capital Corporation Savings Plan (the "Plan") as of December 31, 2014 and 2013, and the related statement of changes in net assets available for benefits for the year ended December 31, 2014. These financial statements are the responsibility of the Plan's management. Our responsibility...

  • Page 4
    ... 31, 2014 TND 2013 2014 ASSETS: Participant-directed investments: Investments at fair value (Notes 2, 4, 5 and 6) Receivables: Notes receivable from participants Participant contributions Employer contributions Interest and other Total receivables Total assets LIABILITIES: Payable for securities...

  • Page 5
    ... Total investment income Interest income on notes receivable from participants Total additions DEDUCTIONS: Distributions to participants Administrative expenses Total deductions INCREASE IN NET ASSETS NET ASSETS AVAILABLE FOR BENEFITS: Beginning of year End of year See notes to financial statements...

  • Page 6
    ... or opt out of the Plan are automatically enrolled as soon as administratively possible after 60 days of employment. Employees automatically enrolled contribute 3% of their base pay as pretax contributions. The Plan also allows participants attaining the age of 50 before the end of the calendar year...

  • Page 7
    ... the participant's account that has vested, as defined below. Investment Choices Beginning May 30, 2014, the investment options available in the Plan changed and a number of different investment options became available, including target date retirement funds and new core funds. Participants direct...

  • Page 8
    ... or up to 15 years for the purchase of the participant's principal residence. An administrative fee is charged to the participant's account for each loan. Participants with an outstanding loan may continue to make loan repayments upon termination of employment with the Employer, unless they receive...

  • Page 9
    ... have a current investment election in place. Loan repayments, including interest, are generally made through irrevocable payroll deductions. Loan repayments for former participants are made through the automated clearing house system. Loans are secured by the participant's account balance. Vesting...

  • Page 10
    ... obligation. The Company, at its discretion, may terminate the Plan and distribute net assets, subject to the provisions set forth in ERISA and the Internal Revenue Code, or discontinue contributions. In this event, the balance credited to the accounts of participants at the date of termination or...

  • Page 11
    ... quarterly Plan recordkeeping fee. Participants may also pay administrative fees for the origination of a loan or for other services provided by the Trustee. Participants pay investment, sales, recordkeeping and administrative expenses charged by the Funds, if any, which are deducted from income and...

  • Page 12
    ... Value Fund, transfers to competing options without meeting the equity wash provisions of the Stable Value Fund (if applicable), Plan sponsor withdrawals without the appropriate notice to the Stable Value Fund's investment manager and/or wrap contract issuers, any changes in laws or regulations...

  • Page 13
    ... investments representing five percent or more of the Plan's net assets available for benefits as of December 31, 2014 and 2013, were as follows: 2014 SSgA S&P 500 Flagship Securities** BlackRock US Debt Index NL SSgA Global All Cap Equity NL Pinnacle West Common Stock* American Funds EuroPacific...

  • Page 14
    ...measured at fair value. There have been no changes in the methodologies used at December 31, 2014 and 2013. Common and Collective Truvtv: Valued, as a practical expedient, based on the trusts' net asset value of units held by the Plan at year-end. Net asset value is based on the market prices of the...

  • Page 15
    ...-income instruments and common stock. Mutual Fundv: Valued and redeemable at the quoted net asset value of shares held by the Plan. The net asset value is based on the quoted price at the end of the day on the active market in which the individual funds are traded. Mutual funds are open-ended funds...

  • Page 16
    ... value of the Plan's investments as of December 31, 2014: Quoted Price in Tctive Markets for Identical Tssets (Level 1) Significant Other Observable Inputs (Level 2) Balance as of December 31, 2014 Common Stocks Short-Term Investments Mutual Funds: International Equity Funds Fixed Income Funds...

  • Page 17
    ... Plan's investments as of December 31, 2013: Quoted Price in Tctive Markets for Identical Tssets (Level 1) Significant Other Observable Inputs (Level 2) Balance as of December 31, 2013 Mutual Funds: Short Term Investment Trusts US Equity Funds International Equity Funds Lifestyle Funds Bond Funds...

  • Page 18
    ...issues loans to participants which are secured by the vested balances in the participants' accounts. Certain employees and officers of the Company, who may also be participants in the Plan, perform financial reporting and other services for the Plan, at no cost to the Plan. The Plan Sponsor pays for...

  • Page 19
    ... Boston Partners Large Capitalization Value Equity Fund ABBVIE INC ACE LTD ACTIVISION BLIZZARD INC AES CORP AGCO CORP ALLSTATE CORPORATION AMERICAN HOMES 4 REN CL A AON PLC APOLLO EDUCATION GROUP CL APPLE INC AVERY DENNISON CORP AVON PRODUCTS INC BARRICK GOLD CORP (USA) BB&T CORP BERKSHIRE HATHAWAY...

  • Page 20
    ...GLOBAL PAYMENTS INC HOME DEPOT INC HONEYWELL INTL INC HUNTSMAN CORP INTERNATIONAL PAPER CO JOHNSON & JOHNSON JPMORGAN CHASE & CO LEAR CORP NEW LIBERTY BROADBAND CORP A LIBERTY BROADBAND CORP C LIBERTY BROADBAND RT 1/15 LIBERTY GLOBAL PLC CL C LIBERTY MEDIA CLASS C Description Cost** Current Value...

  • Page 21
    FORM 5500, SCHEDULE H: PART IV, LINE 4i SCHEDULE OF ASSETS (HELD AT END OF YEAR) DECEMBER 31, 2014 Identity of Issuer, Borrower, Lessor, or Similar Party LIBERTY MEDIA CORP CL A LOCKHEED MARTIN CORP MACYS INC MARATHON PETROLEUM CORP MCKESSON CORP MEDTRONIC INC METLIFE INC MICROSOFT CORP NXP ...

  • Page 22
    ... CORP CHATHAM LODGING TRUST CHEMED CORP CLOUD PEAK ENERGY INC COHERENT INC COLONY FINANCIAL INC COLUMBIA BANKING SYS INC CONTANGO OIL & GAS CO CROWN HOLDINGS INC CUBIC CORP CURTISS WRIGHT CORPORATIO CYS INVESTMENTS INC DILLARDS INC CL A Description US Small/Mid Cap Stock Fund Cost** Current Value...

  • Page 23
    ... IV, LINE 4i SCHEDULE OF ASSETS (HELD AT END OF YEAR) DECEMBER 31, 2014 Identity of Issuer, Borrower, Lessor, or Similar Party DREW INDUSTRIES INC ENERSYS INC EQUIFAX INC ESSENT GROUP LTD EXPRESS INC FEDERATED INVS CL B NV FIFTH STREET FINANCE CORP FINISH LINE INC CL A FIRST AMERICAN FIN CORP FIRST...

  • Page 24
    FORM 5500, SCHEDULE H: PART IV, LINE 4i SCHEDULE OF ASSETS (HELD AT END OF YEAR) DECEMBER 31, 2014 Identity of Issuer, Borrower, Lessor, or Similar Party KINDRED HEALTHCARE INC KNOLL INC KOSMOS ENERGY LTD LANDSTAR SYSTEM INC LEAR CORP NEW LIFEPOINT HOSPITALS INC LIVE NATION ENTERTAINMENT LSB ...

  • Page 25
    FORM 5500, SCHEDULE H: PART IV, LINE 4i SCHEDULE OF ASSETS (HELD AT END OF YEAR) DECEMBER 31, 2014 Identity of Issuer, Borrower, Lessor, or Similar Party ROSETTA RESOURCES INC RPX CORP SCHWEITZER-MAUDUIT INTL SELECT MEDICAL HLDGS CORP SENSIENT TECH CORP SERVICE CORP INTL INC SILVER BAY RLTY TR CORP...

  • Page 26
    ...0819 2.250% maturity date 08/15/2019 24 Description US Small/Mid Cap Stock Fund/Index US Small/Mid Cap Stock Fund Cost** Current Value 68,558,657 15,415,203 549,641,923 Short-Term Investments*** Short-Term Investments*** Short-Term Investments*** Non-US Stock Fund Bond Fund Bond Fund 12,719,461...

  • Page 27
    FORM 5500, SCHEDULE H: PART IV, LINE 4i SCHEDULE OF ASSETS (HELD AT END OF YEAR) DECEMBER 31, 2014 Identity of Issuer, Borrower, Lessor, or Similar Party ABIBB 2.150 0219 2.150% maturity date 02/01/2019 ABIBB 1.125 0117 1.125% maturity date 01/27/2017 BBT 2.450 0120 2.450% maturity date 01/15/2020 ...

  • Page 28
    FORM 5500, SCHEDULE H: PART IV, LINE 4i SCHEDULE OF ASSETS (HELD AT END OF YEAR) DECEMBER 31, 2014 Identity of Issuer, Borrower, Lessor, or Similar Party CAT 1.000 0317 1.000% maturity date 03/03/2017 CNP A A4 5.170% maturity date 8/01/2019 CNP 1 A2 3.460% maturity date 08/15/2019 CHAIT A1 A1 1.150...

  • Page 29
    FORM 5500, SCHEDULE H: PART IV, LINE 4i SCHEDULE OF ASSETS (HELD AT END OF YEAR) DECEMBER 31, 2014 Identity of Issuer, Borrower, Lessor, or Similar Party FG 2.500 0527 2.500% maturity date 5/01/2027 FG 5.000 0620 5.000% maturity date 6/01/2020 FG 4.000 0824 4.000% maturity date 8/01/2024 FG 3.000 ...

  • Page 30
    FORM 5500, SCHEDULE H: PART IV, LINE 4i SCHEDULE OF ASSETS (HELD AT END OF YEAR) DECEMBER 31, 2014 Identity of Issuer, Borrower, Lessor, or Similar Party FN 3.000 1127 3.000% maturity date 11/01/2027 FN 3.000 0727 3.000% maturity date 7/01/2027 FN 2.500 1027 2.500% maturity date 10/01/2027 FN 2.500...

  • Page 31
    FORM 5500, SCHEDULE H: PART IV, LINE 4i SCHEDULE OF ASSETS (HELD AT END OF YEAR) DECEMBER 31, 2014 Identity of Issuer, Borrower, Lessor, or Similar Party HUNT 2 A4 0.680% maturity date 1/16/18 HART A A3 0.790% maturity date 07/16/2018 HALST A A4 1.010% maturity date 11/15/2017 HART B A3 0.900% ...

  • Page 32
    FORM 5500, SCHEDULE H: PART IV, LINE 4i SCHEDULE OF ASSETS (HELD AT END OF YEAR) DECEMBER 31, 2014 Identity of Issuer, Borrower, Lessor, or Similar Party ORCL 2.250 1019 2.250% maturity date 10/08/2019 PCAR 2.200 0919 2.200% maturity date 09/15/2019 PEP 2.500 0516 2.500% maturity date 5/10/16 PEP ...

  • Page 33
    FORM 5500, SCHEDULE H: PART IV, LINE 4i SCHEDULE OF ASSETS (HELD AT END OF YEAR) DECEMBER 31, 2014 Identity of Issuer, Borrower, Lessor, or Similar Party T 0.250 0516 0.250% maturity date 5/15/16 T 1.000 0518 1.000% maturity date 5/31/18 VWALT A A4 0.990% maturity date 07/20/2018 WFRBS C20 A1 1.283...

  • Page 34
    FORM 5500, SCHEDULE H: PART IV, LINE 4i SCHEDULE OF ASSETS (HELD AT END OF YEAR) DECEMBER 31, 2014 Identity of Issuer, Borrower, Lessor, or Similar Party AMXCA 2 A 1.260% maturity date 01/15/2020 AMXCA 3 A 1.490% maturity date 04/15/2020 AMXCA 4 A 1.430% maturity date 06/15/2020 AXP 2.375 0317 2....

  • Page 35
    FORM 5500, SCHEDULE H: PART IV, LINE 4i SCHEDULE OF ASSETS (HELD AT END OF YEAR) DECEMBER 31, 2014 Identity of Issuer, Borrower, Lessor, or Similar Party COMM UBS6 A1 1.445% maturity date 12/10/2047 CNH B A3 0.910% maturity date 05/15/2019 COMM CR2 A1 0.824% maturity date 08/15/2045 COMM CR7 A1 0....

  • Page 36
    FORM 5500, SCHEDULE H: PART IV, LINE 4i SCHEDULE OF ASSETS (HELD AT END OF YEAR) DECEMBER 31, 2014 Identity of Issuer, Borrower, Lessor, or Similar Party DE 1.200 1017 1.200% maturity date 10/10/17 DE 1.550 1217 1.550% maturity date 12/15/2017 DEFT 1 A3 0.940% maturity date 06/22/2020 DB 1.400 0217...

  • Page 37
    FORM 5500, SCHEDULE H: PART IV, LINE 4i SCHEDULE OF ASSETS (HELD AT END OF YEAR) DECEMBER 31, 2014 Identity of Issuer, Borrower, Lessor, or Similar Party FNA M8 AB1 1.362% maturity date 5/25/22 FNA M14 AB1 1.233% maturity date 9/25/22 FNR 30 AB 2.000% maturity date 01/25/2043 FNR 130 DE 3.500% ...

  • Page 38
    FORM 5500, SCHEDULE H: PART IV, LINE 4i SCHEDULE OF ASSETS (HELD AT END OF YEAR) DECEMBER 31, 2014 Identity of Issuer, Borrower, Lessor, or Similar Party FITAT 2 A3 0.890% maturity date 11/15/2018 FITAT 3 A3 0.960% maturity date 03/15/2019 FORDO A A4 1.290% maturity date 04/15/2019 FORDO B A4 1.420...

  • Page 39
    ...LINE 4i SCHEDULE OF ASSETS (HELD AT END OF YEAR) DECEMBER 31, 2014 Identity of Issuer, Borrower, Lessor, or Similar Party JPMBB C25 A1 1.521% maturity date 11/15/2047 JDOT A A3 0.920% maturity date 04/16/2018 JPM 6.000 0717 6.000% maturity date 7/05/17 JPM 2.200 1019 2.200% maturity date 10/22/2019...

  • Page 40
    FORM 5500, SCHEDULE H: PART IV, LINE 4i SCHEDULE OF ASSETS (HELD AT END OF YEAR) DECEMBER 31, 2014 Identity of Issuer, Borrower, Lessor, or Similar Party TD 2.125 0719 2.125% maturity date 07/02/2019 TAOT A A4 1.180% maturity date 06/17/2019 TOYOTA 1.375 0118 1.375% maturity date 1/10/18 TAOT A A4 ...

  • Page 41
    ...Tssets Held for Investment Purposes Description Cost** Current Value 133,128 80,174 107,639 786,836 158,738,045 Pinnacle West Stock Fund Self-Directed Brokerage Account Participant loans 93,510,720 67,250,615 25,485,555 186,246,890 $ 1,088,876,937 * Party-in-interest ** Cost information is not...

  • Page 42
    FORM 5500, SCHEDULE H: PART IV, LINE 4i SCHEDULE OF ASSETS (HELD AT END OF YEAR) DECEMBER 31, 2014 Exhibits Filed Exhibit No. 23.1 Description Consent of Independent Registered Public Accounting Firm 40

  • Page 43
    ... Committee has duly caused this annual report to be signed on its behalf by the undersigned hereunto duly authorized. THE PINNACLE WEST CAPITAL CORPORATION SAVINGS PLAN Date: June 19, 2015 By /s/ Barbara M. Gomez Barbara M. Gomez Vice President Human Resources Arizona Public Service Company 41

  • Page 44
    ... h-8 of our report dated June 19, 2015, relating to the financial statements and financial statement schedule of The Pinnacle West Capital Corporation havings Plan appearing in this Annual Report on Form 11-K of The Pinnacle West Capital Corporation havings Plan, for the year ended December 31, 2014...