APS 2015 Annual Report Download - page 114
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Table of Contents
COMBINED NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
Following are the total amount of accrued liabilities for interest recognized related to unrecognized benefits that could reverse
and decrease our effective tax rate to the extent matters are settled favorably (dollars in thousands):
Pinnacle West Consolidated
APS Consolidated
2015
2014
2013
2015
2014
2013
Unrecognized tax benefit interest accrued $ 804
$ 965
$ 213
$ 804
$ 965
$ 213
Additionally, as of December 31, 2015, we have recognized less than $1 million of interest expense to be paid on the
underpayment of income taxes for certain adjustments that we have filed, or will file, with the IRS.
The components of income tax expense are as follows (dollars in thousands):
Pinnacle West Consolidated
APS Consolidated
Year Ended December 31,
Year Ended December 31,
2015
2014
2013
2015
2014
2013
Current:
Federal $ (12,335)
$ 25,054
$ (81,784)
$ 6,485
$ 40,115
$ (97,531)
State 4,763
10,382
10,537
7,813
15,598
11,983
Total current (7,572)
35,436
(71,247)
14,298
55,713
(85,548)
Deferred:
Federal 221,505
167,365
279,973
208,326
165,027
305,389
State 23,787
17,904
21,865
23,217
16,620
25,254
Total deferred 245,292
185,269
301,838
231,543
181,647
330,643
Income tax expense $ 237,720
$ 220,705
$ 230,591
$ 245,841
$ 237,360
$ 245,095
On the APS Consolidated Statements of Income, federal and state income taxes are allocated between operating income and
other income.
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