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See the definitions of "lar) Tj ET Q q 0 0 0 rg BT 530.61 587.20 Td (ge ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 573.40 Td (accelerated filer) Tj ET Q q 0 0 0 rg BT 122.77 573.40 Td (," "accelerated filer) Tj ET Q q 0 0 0 rg BT 211.18 573.40 Td (," "smaller reporting company) Tj ET Q q 0 0 0 rg BT 349.48 573.40 Td (," and "emer) Tj ET Q q 0 0 0 rg BT 406.88 573.40 Td (ging growth company" in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 559.60 Td (Rule12b-2 of the Exchange ) Tj ET Q q 0 0 0 rg BT 180.76 559.60 Td (Act.) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 49.50 532.00 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 51.25 532.00 Td (PINNACLE ) Tj ET Q q 0 0 0 rg BT 110.78 532.00 Td (WEST) Tj ET Q q 0 0 0 rg BT 141.87 532.00 Td ( CAPIT) Tj ET Q q 0 0 0 rg BT 177.05 532.00 Td (AL) Tj ET Q q 0 0 0 rg BT 191.95 532.00 Td ( CORPORA) Tj ET Q q 0 0 0 rg BT 247.88 532.00 Td (TION) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 510.53 Td (Lar) Tj ET Q q 0 0 0 rg BT 68.35 510.53 Td (ge accelerated filer) Tj ET Q BT /F3 11.50 Tf ET /GS0 gs q 8.44 0 0 11.79 188.50 508.01 cm /I11 Do Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 196.94 510.43 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 201.50 510.53 Td (Accelerated filer) Tj ET Q /GS0 gs q 8.44 0 0 10.79 284.50 508.01 cm /I12 Do Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 298.50 510.53 Td (Non-accelerated filer) Tj ET Q /GS0 gs q 8.44 0 0 10.79 402.50 508.01 cm /I13 Do Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 417.50 510.53 Td (Smaller reporting company) Tj ET Q /GS0 gs q 8.44 0 0 10.79 549.50 508.01 cm /I14 Do Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 488.53 Td (Emer) Tj ET Q q 0 0 0 rg BT 77.20 488.53 Td (ging growth company) Tj ET Q /GS0 gs q 8.44 0 0 10.79 188.50 486.01 cm /I15 Do Q BT /F1 11.50 Tf ET BT /F1 7.00 Tf ET q 0 0 0 rg BT 49.50 475.60 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 461.80 Td (ARIZONA) Tj ET Q q 0 0 0 rg BT 100.61 461.80 Td ( PUBLIC SER) Tj ET Q q 0 0 0 rg BT 167.43 461.80 Td (VICE COMP) Tj ET Q q 0 0 0 rg BT 228.67 461.80 Td (ANY) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.00 440.33 Td (Lar) Tj ET Q q 0 0 0 rg BT 67.85 440.33 Td (ge accelerated filer) Tj ET Q /GS0 gs q 8.44 0 0 10.79 187.00 437.81 cm /I16 Do Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 200.00 440.33 Td (Accelerated filer) Tj ET Q /GS0 gs q 8.44 0 0 10.79 283.00 437.81 cm /I17 Do Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 297.00 440.33 Td (Non-accelerated filer) Tj ET Q BT /F3 11.50 Tf ET /GS0 gs q 8.44 0 0 11.79 401.00 437.81 cm /I18 Do Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 409.44 440.23 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 416.00 440.33 Td (Smaller reporting company) Tj ET Q /GS0 gs q 8.44 0 0 10.79 548.00 437.81 cm /I19 Do Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.00 418.33 Td (Emer) Tj ET Q q 0 0 0 rg BT 76.70 418.33 Td (ging growth company) Tj ET Q /GS0 gs q 8.44 0 0 10.79 187.00 415.81 cm /I20 Do Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 400.00 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 63.00 386.20 Td (If an emer) Tj ET Q q 0 0 0 rg BT 110.04 386.20 Td (ging growth company) Tj ET Q q 0 0 0 rg BT 210.22 386.20 Td (, indicate by check mark if the registrant has elected not to use the extended ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 372.40 Td (transition period for complying with any new or revised financial accounting standards provided pursuant to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 358.60 Td (Section 13\(a\) of the Exchange ) Tj ET Q q 0 0 0 rg BT 190.97 358.60 Td (Act. ) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL /GS0 gs q 7.78 0 0 11.46 213.32 356.12 cm /I21 Do Q BT /F1 11.50 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 67.50 331.00 Td (Indicate by check mark whether each registrant is a shell company \(as defined in Rule12b-2 of the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 317.20 Td (Exchange ) Tj ET Q q 0 0 0 rg BT 97.08 317.20 Td (Act\).) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 296.23 Td (PINNACLE ) Tj ET Q q 0 0 0 rg BT 112.13 296.23 Td (WEST) Tj ET Q q 0 0 0 rg BT 143.23 296.23 Td ( CAPIT) Tj ET Q q 0 0 0 rg BT 178.76 296.23 Td (AL) Tj ET Q q 0 0 0 rg BT 193.42 296.23 Td ( CORPORA) Tj ET Q q 0 0 0 rg BT 249.76 296.23 Td (TION) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 366.50 295.73 Td (Y) Tj ET Q q 0 0 0 rg BT 374.23 295.73 Td (es ) Tj ET Q /GS0 gs q 8.44 0 0 10.79 389.50 293.21 cm /I22 Do Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 412.50 295.73 Td (No) Tj ET Q BT /F3 11.50 Tf ET /GS0 gs q 8.44 0 0 11.79 433.50 293.21 cm /I23 Do Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 441.94 295.63 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 280.23 Td (ARIZONA) Tj ET Q q 0 0 0 rg BT 103.61 280.23 Td ( PUBLIC SER) Tj ET Q q 0 0 0 rg BT 170.43 280.23 Td (VICE COMP) Tj ET Q q 0 0 0 rg BT 231.67 280.23 Td (ANY) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 366.50 279.73 Td (Y) Tj ET Q q 0 0 0 rg BT 374.23 279.73 Td (es ) Tj ET Q /GS0 gs q 8.44 0 0 10.79 389.50 277.21 cm /I24 Do Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 412.50 279.73 Td (No) Tj ET Q BT /F3 11.50 Tf ET /GS0 gs q 8.44 0 0 11.79 433.50 277.21 cm /I25 Do Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 441.94 279.63 Td () Tj ET Q BT /F1 11.50 Tf ET BT /F1 7.00 Tf ET q 0 0 0 rg BT 49.50 266.80 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 67.50 253.00 Td (Indicate the number of shares outstanding of each of the issuer) Tj ET Q q 0 0 0 rg BT 355.98 253.00 Td () Tj ET Q q 0 0 0 rg BT 359.17 253.00 Td (s classes of common stock, as of the latest ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 239.20 Td (practicable date.) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 49.50 230.80 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 209.83 Td (PINNACLE ) Tj ET Q q 0 0 0 rg BT 112.13 209.83 Td (WEST) Tj ET Q q 0 0 0 rg BT 143.23 209.83 Td ( CAPIT) Tj ET Q q 0 0 0 rg BT 178.76 209.83 Td (AL) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 198.33 Td (CORPORA) Tj ET Q q 0 0 0 rg BT 106.19 198.33 Td (TION) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 207.50 209.83 Td (Number of shares of common stock, no par value,) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 207.50 198.33 Td (outstanding as of May 1, 2020:) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 451.50 198.43 Td (1) Tj ET Q q 0 0 0 rg BT 457.50 198.43 Td (12,493,458) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 182.83 Td (ARIZONA) Tj ET Q q 0 0 0 rg BT 103.61 182.83 Td ( PUBLIC SER) Tj ET Q q 0 0 0 rg BT 170.43 182.83 Td (VICE) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 171.33 Td (COMP) Tj ET Q q 0 0 0 rg BT 84.04 171.33 Td (ANY) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 207.50 182.48 Td (Number of shares of common stock, $2.50 par ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 207.50 170.48 Td (value, outstanding as of May 1) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 355.47 170.48 Td (, 2020) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 384.22 170.48 Td (: ) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 451.50 170.43 Td (71,264,947) Tj ET Q BT /F1 11.50 Tf ET BT /F1 7.00 Tf ET q 0 0 0 rg BT 49.50 157.40 Td () Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 85.50 143.60 Td (Arizona Public Service Company meets the conditions set forth in General Instruction H\(1\)) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 129.80 Td (\(a\)and \(b\)of Form10-Q and is ther) Tj ET Q q 0 0 0 rg BT 226.26 129.80 Td (efor) Tj ET Q q 0 0 0 rg BT 245.84 129.80 Td (e filing this form with the r) Tj ET Q q 0 0 0 rg BT 377.87 129.80 Td (educed disclosur) Tj ET Q q 0 0 0 rg BT 459.13 129.80 Td (e format allowed ) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 116.00 Td (under) Tj ET Q q 0 0 0 rg BT 78.69 116.00 Td ( that General Instruction.) Tj ET Q endstream endobj 7 0 obj <><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><>] /Rotate 0 /Contents 8 0 R>> endobj 8 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 303.10 32.55 Td (1) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 244.65 743.75 Td (T) Tj ET Q q 0 0 0 rg BT 251.47 743.75 Td (ABLE OF) Tj ET Q q 0 0 0 rg BT 301.20 743.75 Td ( CONTENTS) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 527 717.25 m 562 717.25 l s BT /F2 11.50 Tf ET q 0 0 0 rg BT 52.50 722.26 Td () Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 532.15 722.26 Td (Page) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 706.78 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 558.50 706.78 Td () Tj ET Q BT /F1 11.50 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.56 w 0 i [] 0 d 1 J 1 j 3 M 52.5 691.243408203125 m 187.60595703125 691.243408203125 l s q 0 0 1 rg BT 52.50 692.78 Td (Forward-Looking Statements) Tj ET Q BT /F1 11.50 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 11.50 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.56 w 0 i [] 0 d 1 J 1 j 3 M 52.5 677.243408203125 m 77.72998046875 677.243408203125 l s q 0 0 1 rg BT 52.50 678.78 Td (PartI) Tj ET Q BT /F1 11.50 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 11.50 Tf ET q 0 0 0 rg BT 129.50 678.78 Td () Tj ET Q BT /F1 11.50 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.56 w 0 i [] 0 d 1 J 1 j 3 M 70.5 663.243408203125 m 103.07470703125 663.243408203125 l s q 0 0 1 rg BT 70.50 664.78 Td (Item 1.) Tj ET Q BT /F1 11.50 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 11.50 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.56 w 0 i [] 0 d 1 J 1 j 3 M 129.5 663.243408203125 m 225.63671875 663.243408203125 l s q 0 0 1 rg BT 129.50 664.78 Td (Financial Statements) Tj ET Q BT /F1 11.50 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 650.78 Td () Tj ET Q BT /F1 11.50 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.56 w 0 i [] 0 d 1 J 1 j 3 M 147.5 649.243408203125 m 307.0166015625 649.243408203125 l s q 0 0 1 rg BT 147.50 650.78 Td (Pinnacle ) Tj ET Q q 0 0 1 rg BT 189.77 650.78 Td (W) Tj ET Q q 0 0 1 rg BT 199.70 650.78 Td (est Capital Corporation) Tj ET Q BT /F1 11.50 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 636.78 Td () Tj ET Q BT /F1 11.50 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.56 w 0 i [] 0 d 1 J 1 j 3 M 147.5 635.243408203125 m 301.759765625 635.243408203125 l s q 0 0 1 rg BT 147.50 636.78 Td (Arizona Public Service Company) Tj ET Q BT /F1 11.50 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 11.50 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.56 w 0 i [] 0 d 1 J 1 j 3 M 70.5 621.243408203125 m 103.07470703125 621.243408203125 l s q 0 0 1 rg BT 70.50 622.78 Td (Item 2.) Tj ET Q BT /F1 11.50 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 11.50 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.56 w 0 i [] 0 d 1 J 1 j 3 M 129.5 621.243408203125 m 491.0859375 621.243408203125 l s q 0 0 1 rg BT 129.50 622.78 Td (Management) Tj ET Q q 0 0 1 rg BT 192.73 622.78 Td (s Discussion and ) Tj ET Q q 0 0 1 rg BT 272.28 622.78 Td (Analysis of Financial Condition and Results of ) Tj ET Q BT /F1 11.50 Tf ET 0 0 1 RG /GS0 gs 0.56 w 0 i [] 0 d 1 J 1 j 3 M 129.5 609.743408203125 m 179.9599609375 609.743408203125 l s q 0 0 1 rg BT 129.50 611.28 Td (Operations) Tj ET Q BT /F1 11.50 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 11.50 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.56 w 0 i [] 0 d 1 J 1 j 3 M 70.5 594.243408203125 m 103.07470703125 594.243408203125 l s q 0 0 1 rg BT 70.50 595.78 Td (Item 3.) Tj ET Q BT /F1 11.50 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 11.50 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.56 w 0 i [] 0 d 1 J 1 j 3 M 129.5 594.243408203125 m 407.373046875 594.243408203125 l s q 0 0 1 rg BT 129.50 595.78 Td (Quantitative and Qualitative Disclosures ) Tj ET Q q 0 0 1 rg BT 318.57 595.78 Td (About Market Risk) Tj ET Q BT /F1 11.50 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 11.50 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.56 w 0 i [] 0 d 1 J 1 j 3 M 70.5 580.243408203125 m 103.07470703125 580.243408203125 l s q 0 0 1 rg BT 70.50 581.78 Td (Item 4.) Tj ET Q BT /F1 11.50 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 11.50 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.56 w 0 i [] 0 d 1 J 1 j 3 M 129.5 580.243408203125 m 242.56494140625 580.243408203125 l s q 0 0 1 rg BT 129.50 581.78 Td (Controls and Procedures) Tj ET Q BT /F1 11.50 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 567.78 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 129.50 567.78 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 558.50 567.78 Td () Tj ET Q BT /F1 11.50 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.56 w 0 i [] 0 d 1 J 1 j 3 M 52.5 552.243408203125 m 81.5595703125 552.243408203125 l s q 0 0 1 rg BT 52.50 553.78 Td (PartII) Tj ET Q BT /F1 11.50 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 11.50 Tf ET q 0 0 0 rg BT 129.50 553.78 Td () Tj ET Q BT /F1 11.50 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.56 w 0 i [] 0 d 1 J 1 j 3 M 70.5 538.243408203125 m 100.19970703125 538.243408203125 l s q 0 0 1 rg BT 70.50 539.78 Td (Item 1) Tj ET Q BT /F1 11.50 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 100.20 539.78 Td (.) Tj ET Q BT /F1 11.50 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.56 w 0 i [] 0 d 1 J 1 j 3 M 129.5 538.243408203125 m 214.76416015625 538.243408203125 l s q 0 0 1 rg BT 129.50 539.78 Td (Legal Proceedings) Tj ET Q BT /F1 11.50 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 11.50 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.56 w 0 i [] 0 d 1 J 1 j 3 M 70.5 524.243408203125 m 111.3798828125 524.243408203125 l s q 0 0 1 rg BT 70.50 525.78 Td (Item 1A.) Tj ET Q BT /F1 11.50 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 11.50 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.56 w 0 i [] 0 d 1 J 1 j 3 M 129.5 524.243408203125 m 187.32177734375 524.243408203125 l s q 0 0 1 rg BT 129.50 525.78 Td (Risk Factors) Tj ET Q BT /F1 11.50 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 11.50 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.56 w 0 i [] 0 d 1 J 1 j 3 M 70.5 510.243408203125 m 103.07470703125 510.243408203125 l s q 0 0 1 rg BT 70.50 511.78 Td (Item 5.) Tj ET Q BT /F1 11.50 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 11.50 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.56 w 0 i [] 0 d 1 J 1 j 3 M 129.5 510.243408203125 m 213.48876953125 510.243408203125 l s q 0 0 1 rg BT 129.50 511.78 Td (Other Information) Tj ET Q BT /F1 11.50 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 11.50 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.56 w 0 i [] 0 d 1 J 1 j 3 M 70.5 496.243408203125 m 103.07470703125 496.243408203125 l s q 0 0 1 rg BT 70.50 497.78 Td (Item 6.) Tj ET Q BT /F1 11.50 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 11.50 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.56 w 0 i [] 0 d 1 J 1 j 3 M 129.5 496.243408203125 m 167.83642578125 496.243408203125 l s q 0 0 1 rg BT 129.50 497.78 Td (Exhibits) Tj ET Q BT /F1 11.50 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 11.50 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.56 w 0 i [] 0 d 1 J 1 j 3 M 52.5 482.243408203125 m 101.05078125 482.243408203125 l s q 0 0 1 rg BT 52.50 483.78 Td (Signatures) Tj ET Q BT /F1 11.50 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 11.50 Tf ET q 0 0 0 rg BT 129.50 483.78 Td () Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 466.95 Td () Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 453.15 Td (This combined Form10-Q is separately pr) Tj ET Q q 0 0 0 rg BT 257.57 453.15 Td (ovided by Pinnacle ) Tj ET Q q 0 0 0 rg BT 352.89 453.15 Td (W) Tj ET Q q 0 0 0 rg BT 363.75 453.15 Td (est Capital Corporation \("Pinnacle ) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 439.35 Td (W) Tj ET Q q 0 0 0 rg BT 60.37 439.35 Td (est"\) and ) Tj ET Q q 0 0 0 rg BT 107.65 439.35 Td (Arizona Public Service Company \("APS"\). ) Tj ET Q q 0 0 0 rg BT 323.90 439.35 Td (Any use of the words "Company) Tj ET Q q 0 0 0 rg BT 483.32 439.35 Td (," "we," and ) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 425.55 Td ("our" r) Tj ET Q q 0 0 0 rg BT 87.29 425.55 Td (efer) Tj ET Q q 0 0 0 rg BT 106.23 425.55 Td ( to Pinnacle ) Tj ET Q q 0 0 0 rg BT 166.39 425.55 Td (W) Tj ET Q q 0 0 0 rg BT 177.26 425.55 Td (est. Each r) Tj ET Q q 0 0 0 rg BT 231.98 425.55 Td (egistrant is pr) Tj ET Q q 0 0 0 rg BT 300.13 425.55 Td (oviding on its own behalf all of the information ) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 411.75 Td (contained in this Form10-Q that r) Tj ET Q q 0 0 0 rg BT 218.60 411.75 Td (elates to such r) Tj ET Q q 0 0 0 rg BT 291.53 411.75 Td (egistrant and, wher) Tj ET Q q 0 0 0 rg BT 386.83 411.75 Td (e r) Tj ET Q q 0 0 0 rg BT 399.71 411.75 Td (equir) Tj ET Q q 0 0 0 rg BT 425.70 411.75 Td (ed, its subsidiaries. Except ) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 397.95 Td (as stated in the pr) Tj ET Q q 0 0 0 rg BT 136.82 397.95 Td (eceding sentence, neither) Tj ET Q q 0 0 0 rg BT 258.94 397.95 Td ( r) Tj ET Q q 0 0 0 rg BT 266.71 397.95 Td (egistrant is pr) Tj ET Q q 0 0 0 rg BT 334.86 397.95 Td (oviding any information that does not r) Tj ET Q q 0 0 0 rg BT 527.62 397.95 Td (elate ) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 384.15 Td (to such r) Tj ET Q q 0 0 0 rg BT 92.10 384.15 Td (egistrant, and ther) Tj ET Q q 0 0 0 rg BT 182.93 384.15 Td (efor) Tj ET Q q 0 0 0 rg BT 202.51 384.15 Td (e makes no r) Tj ET Q q 0 0 0 rg BT 264.58 384.15 Td (epr) Tj ET Q q 0 0 0 rg BT 280.98 384.15 Td (esentation as to any such information. ) Tj ET Q q 0 0 0 rg BT 472.45 384.15 Td (The information ) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 370.35 Td (r) Tj ET Q q 0 0 0 rg BT 54.40 370.35 Td (equir) Tj ET Q q 0 0 0 rg BT 80.38 370.35 Td (ed with r) Tj ET Q q 0 0 0 rg BT 124.26 370.35 Td (espect to each company is set forth within the applicable items. Item 1 of this r) Tj ET Q q 0 0 0 rg BT 510.23 370.35 Td (eport ) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 356.55 Td (includes Condensed Consolidated Financial Statements of Pinnacle ) Tj ET Q q 0 0 0 rg BT 380.60 356.55 Td (W) Tj ET Q q 0 0 0 rg BT 391.46 356.55 Td (est and Condensed Consolidated ) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 342.75 Td (Financial Statements of ) Tj ET Q q 0 0 0 rg BT 167.37 342.75 Td (APS. Item 1 also includes Combined Notes to Condensed Consolidated ) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 328.95 Td (Financial Statements.) 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physical attack, severe storms, droughts, or other catastrophic events, such as fires, ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 67.50 321.35 Td (explosions, pandemic health events) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 223.29 321.35 Td (,) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 226.17 321.35 Td ( or similar occurrences;) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 308.15 Td ( ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 67.50 308.15 Td (the development of new technologies which may af) Tj ET Q q 0 0 0 rg BT 294.26 308.15 Td (fect electric sales or delivery;) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 294.95 Td ( ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 67.50 294.95 Td (the cost of debt and equity capital and the ability to access capital markets when required;) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 281.75 Td ( ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 67.50 281.75 Td (environmental, economic and other concerns surrounding coal-fired generation, including 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Neither Pinnacle ) Tj ET Q q 0 0 0 rg BT 353.84 704.30 Td (W) Tj ET Q q 0 0 0 rg BT 363.34 704.30 Td (est nor ) Tj ET Q q 0 0 0 rg BT 395.11 704.30 Td (APS assumes any obligation to ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 691.10 Td (update these statements, even if our internal estimates change, except as required by law) Tj ET Q q 0 0 0 rg BT 437.61 691.10 Td (.) Tj ET Q endstream endobj 13 0 obj <><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><>] /Rotate 0 /Contents 14 0 R>> endobj 14 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 303.10 32.55 Td (4) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 216.15 744.75 Td (P) Tj ET Q q 0 0 0 rg BT 221.52 744.75 Td (AR) Tj ET Q q 0 0 0 rg BT 235.61 744.75 Td (T) Tj ET Q q 0 0 0 rg BT 242.10 744.75 Td (I FINANCIAL) Tj ET Q q 0 0 0 rg BT 319.61 744.75 Td ( INFORMA) Tj ET Q q 0 0 0 rg BT 370.25 744.75 Td (TION) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 306.00 730.95 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 718.95 Td (ITEM 1. FINANCIAL) Tj ET Q q 0 0 0 rg BT 147.29 718.95 Td ( ST) Tj ET Q q 0 0 0 rg BT 161.28 718.95 Td (A) Tj ET Q q 0 0 0 rg BT 167.76 718.95 Td (TEMENTS) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 705.15 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 92.95 691.35 Td (INDEX ) Tj ET Q q 0 0 0 rg BT 134.26 691.35 Td (T) Tj ET Q q 0 0 0 rg BT 141.08 691.35 Td (O FINANCIAL) Tj ET Q q 0 0 0 rg BT 213.80 691.35 Td ( ST) Tj ET Q q 0 0 0 rg BT 229.18 691.35 Td (A) Tj ET Q q 0 0 0 rg BT 236.21 691.35 Td (TEMENTS ) Tj ET Q q 0 0 0 rg BT 291.48 691.35 Td (AND FINANCIAL) Tj ET Q q 0 0 0 rg BT 380.81 691.35 Td ( ST) Tj ET Q q 0 0 0 rg BT 396.19 691.35 Td (A) Tj ET Q q 0 0 0 rg BT 403.22 691.35 Td (TEMENT) Tj ET Q q 0 0 0 rg BT 449.64 691.35 Td ( SCHEDULES) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 306.00 677.55 Td () Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 517 654.05 m 563 654.05 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 658.28 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 531.25 658.28 Td (Page) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 646.00 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 539.50 645.30 Td () Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 52.5 629.2367187499999 m 416.37890625 629.2367187499999 l s q 0 0 1 rg BT 52.50 630.30 Td (Pinnacle ) Tj ET Q q 0 0 1 rg BT 81.90 630.30 Td (W) Tj ET Q q 0 0 1 rg BT 88.81 630.30 Td (est Condensed Consolidated Statements of Income for ) Tj ET Q q 0 0 1 rg BT 264.41 630.30 Td (Three Months Ended March 31, 2020 and 2019) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 52.5 614.2367187499999 m 468.58984375 614.2367187499999 l s q 0 0 1 rg BT 52.50 615.30 Td (Pinnacle ) Tj ET Q q 0 0 1 rg BT 81.90 615.30 Td (W) Tj ET Q q 0 0 1 rg BT 88.81 615.30 Td (est Condensed Consolidated Statements of Comprehensive Income for ) Tj ET Q q 0 0 1 rg BT 316.62 615.30 Td (Three Months Ended March 31, 2020 and 2019) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 52.5 599.2367187499999 m 378.7421875 599.2367187499999 l s q 0 0 1 rg BT 52.50 600.30 Td (Pinnacle ) Tj ET Q q 0 0 1 rg BT 81.90 600.30 Td (W) Tj ET Q q 0 0 1 rg BT 88.81 600.30 Td (est Condensed Consolidated Balance Sheets as of March 31, 2020 and December 31, 2019) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 52.5 584.2367187499999 m 429.953125 584.2367187499999 l s q 0 0 1 rg BT 52.50 585.30 Td (Pinnacle ) Tj ET Q q 0 0 1 rg BT 81.90 585.30 Td (W) Tj ET Q q 0 0 1 rg BT 88.81 585.30 Td (est Condensed Consolidated Statements of Cash Flows for ) Tj ET Q q 0 0 1 rg BT 277.98 585.30 Td (Three Months Ended March 31, 2020 and 2019) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 52.5 569.2367187499999 m 451.49609375 569.2367187499999 l s q 0 0 1 rg BT 52.50 570.30 Td (Pinnacle ) Tj ET Q q 0 0 1 rg BT 81.90 570.30 Td (W) Tj ET Q q 0 0 1 rg BT 88.81 570.30 Td (est Condensed Consolidated Statements of Changes in Equity for ) Tj ET Q q 0 0 1 rg BT 299.53 570.30 Td (Three Months Ended March 31, 2020 and 2019) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 557.30 Td () Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 52.5 540.2367187499999 m 385.85546875 540.2367187499999 l s q 0 0 1 rg BT 52.50 541.30 Td (APS Condensed Consolidated Statements of Income for ) Tj ET Q q 0 0 1 rg BT 233.89 541.30 Td (Three Months Ended March 31, 2020 and 2019) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 52.5 524.2367187499999 m 438.06640625 524.2367187499999 l s q 0 0 1 rg BT 52.50 525.30 Td (APS Condensed Consolidated Statements of Comprehensive Income for ) Tj ET Q q 0 0 1 rg BT 286.10 525.30 Td (Three Months Ended March 31, 2020 and 2019) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 52.5 508.23671874999997 m 348.21875 508.23671874999997 l s q 0 0 1 rg BT 52.50 509.30 Td (APS Condensed Consolidated Balance Sheets as of March 31, 2020 and December 31, 2019) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 52.5 494.23671874999997 m 399.4296875 494.23671874999997 l s q 0 0 1 rg BT 52.50 495.30 Td (APS Condensed Consolidated Statements of Cash Flows for ) Tj ET Q q 0 0 1 rg BT 247.46 495.30 Td (Three Months Ended March 31, 2020 and 2019) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 52.5 480.23671874999997 m 420.97265625 480.23671874999997 l s q 0 0 1 rg BT 52.50 481.30 Td (APS Condensed Consolidated Statements of Changes in Equity for ) Tj ET Q q 0 0 1 rg BT 269.00 481.30 Td (Three Months Ended March 31, 2020 and 2019) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 52.5 450.23671874999997 m 265.36328125 450.23671874999997 l s q 0 0 1 rg BT 52.50 451.30 Td (Combined Notes to Condensed Consolidated Financial Statements) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 52.5 434.23671874999997 m 206.0234375 434.23671874999997 l s q 0 0 1 rg BT 52.50 435.30 Td (Note 1. Consolidation and Nature of Operations) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 52.5 418.23671874999997 m 106.0390625 418.23671874999997 l s q 0 0 1 rg BT 52.50 419.30 Td (Note 2. Revenue) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 52.5 402.23671874999997 m 203.68359375 402.23671874999997 l s q 0 0 1 rg BT 52.50 403.30 Td (Note 3. Long-T) Tj ET Q q 0 0 1 rg BT 101.93 403.30 Td (erm Debt and Liquidity Matters) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 52.5 386.23671874999997 m 140.03515625 386.23671874999997 l s q 0 0 1 rg BT 52.50 387.30 Td (Note 4. Regulatory Matters) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 52.5 370.23671874999997 m 244.01171875 370.23671874999997 l s q 0 0 1 rg BT 52.50 371.30 Td (Note 5. Retirement Plans and Other Postretirement Benefits) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 52.5 354.23671874999997 m 245.25 354.23671874999997 l s q 0 0 1 rg BT 52.50 355.30 Td (Note 6. Palo ) Tj ET Q q 0 0 1 rg BT 94.13 355.30 Td (V) Tj ET Q q 0 0 1 rg BT 99.02 355.30 Td (erde Sale Leaseback ) Tj ET Q q 0 0 1 rg BT 166.17 355.30 Td (V) Tj ET Q q 0 0 1 rg BT 171.06 355.30 Td (ariable Interest Entities) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 52.5 338.23671874999997 m 150.6953125 338.23671874999997 l s q 0 0 1 rg BT 52.50 339.30 Td (Note 7. Derivative ) Tj ET Q q 0 0 1 rg BT 113.37 339.30 Td (Accounting) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 52.5 322.23671874999997 m 184.70703125 322.23671874999997 l s q 0 0 1 rg BT 52.50 323.30 Td (Note 8. Commitments and Contingencies) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 52.5 306.23671874999997 m 185.12109375 306.23671874999997 l s q 0 0 1 rg BT 52.50 307.30 Td (Note 9. Other Income and Other Expense) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 52.5 290.23671874999997 m 143.3671875 290.23671874999997 l s q 0 0 1 rg BT 52.50 291.30 Td (Note 10. Earnings Per Share) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 52.5 274.2367187499999 m 163.36328125 274.2367187499999 l s q 0 0 1 rg BT 52.50 275.30 Td (Note 1) Tj ET Q q 0 0 1 rg BT 73.75 275.30 Td (1. Fair ) Tj ET Q q 0 0 1 rg BT 96.50 275.30 Td (V) Tj ET Q q 0 0 1 rg BT 101.39 275.30 Td (alue Measurements) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 52.5 258.2367187499999 m 327.1328125 258.2367187499999 l s q 0 0 1 rg BT 52.50 259.30 Td (Note 12. Investment in Nuclear Decommissioning ) Tj ET Q q 0 0 1 rg BT 215.21 259.30 Td (T) Tj ET Q q 0 0 1 rg BT 219.82 259.30 Td (rust and Other Special Use Funds) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 52.5 242.2367187499999 m 169.58984375 242.2367187499999 l s q 0 0 1 rg BT 52.50 243.30 Td (Note 13. New ) Tj ET Q q 0 0 1 rg BT 98.71 243.30 Td (Accounting Standards) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 52.5 226.2367187499999 m 251.5703125 226.2367187499999 l s q 0 0 1 rg BT 52.50 227.30 Td (Note 14. Changes in ) Tj ET Q q 0 0 1 rg BT 119.38 227.30 Td (Accumulated Other Comprehensive Loss) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 52.5 210.2367187499999 m 126.4375 210.2367187499999 l s q 0 0 1 rg BT 52.50 211.30 Td (Note 15. Income ) Tj ET Q q 0 0 1 rg BT 107.89 211.30 Td (T) Tj ET Q q 0 0 1 rg BT 112.22 211.30 Td (axes) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 52.5 194.2367187499999 m 176.26171875 194.2367187499999 l s q 0 0 1 rg BT 52.50 195.30 Td (Note 16. ) Tj ET Q q 0 0 1 rg BT 81.61 195.30 Td (Asset Retirement Obligations) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 11.50 Tf ET BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 537.5 629.2367187499999 m 541.5 629.2367187499999 l s q 0 0 1 rg BT 537.50 630.30 Td (5) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 537.5 614.2367187499999 m 541.5 614.2367187499999 l s q 0 0 1 rg BT 537.50 615.30 Td (6) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 537.5 599.2367187499999 m 541.5 599.2367187499999 l s q 0 0 1 rg BT 537.50 600.30 Td (7) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 537.5 584.2367187499999 m 541.5 584.2367187499999 l s q 0 0 1 rg BT 537.50 585.30 Td (9) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 535.5 569.2367187499999 m 543.5 569.2367187499999 l s q 0 0 1 rg BT 535.50 570.30 Td (10) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 535.6 540.2367187499999 m 543.303125 540.2367187499999 l s q 0 0 1 rg BT 535.60 541.30 Td (1) Tj ET Q q 0 0 1 rg BT 539.30 541.30 Td (1) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 535.5 524.2367187499999 m 543.5 524.2367187499999 l s q 0 0 1 rg BT 535.50 525.30 Td (12) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 535.5 508.23671874999997 m 543.5 508.23671874999997 l s q 0 0 1 rg BT 535.50 509.30 Td (13) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 535.5 494.23671874999997 m 543.5 494.23671874999997 l s q 0 0 1 rg BT 535.50 495.30 Td (15) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 535.5 480.23671874999997 m 543.5 480.23671874999997 l s q 0 0 1 rg BT 535.50 481.30 Td (16) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 535.5 450.23671874999997 m 543.5 450.23671874999997 l s q 0 0 1 rg BT 535.50 451.30 Td (17) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 535.5 434.23671874999997 m 543.5 434.23671874999997 l s q 0 0 1 rg BT 535.50 435.30 Td (17) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 535.5 418.23671874999997 m 543.5 418.23671874999997 l s q 0 0 1 rg BT 535.50 419.30 Td (18) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 535.5 402.23671874999997 m 543.5 402.23671874999997 l s q 0 0 1 rg BT 535.50 403.30 Td (20) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 535.5 386.23671874999997 m 543.5 386.23671874999997 l s q 0 0 1 rg BT 535.50 387.30 Td (21) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 535.5 370.23671874999997 m 543.5 370.23671874999997 l s q 0 0 1 rg BT 535.50 371.30 Td (38) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 535.5 354.23671874999997 m 543.5 354.23671874999997 l s q 0 0 1 rg BT 535.50 355.30 Td (39) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 535.5 338.23671874999997 m 543.5 338.23671874999997 l s q 0 0 1 rg BT 535.50 339.30 Td (40) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 535.5 322.23671874999997 m 543.5 322.23671874999997 l s q 0 0 1 rg BT 535.50 323.30 Td (45) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 535.5 306.23671874999997 m 543.5 306.23671874999997 l s q 0 0 1 rg BT 535.50 307.30 Td (52) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 535.5 290.23671874999997 m 543.5 290.23671874999997 l s q 0 0 1 rg BT 535.50 291.30 Td (53) Tj ET Q BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 535.5 274.2367187499999 m 543.5 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Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 525.00 630.73 Td (2019) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 601.72 Td (OPERA) Tj ET Q q 0 0 0 rg BT 84.73 601.72 Td (TING REVENUES \(NOTE 2\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.50 601.72 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.65 601.72 Td (661,930) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 510.50 601.72 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 601.72 Td (740,530) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 573.62 Td (OPERA) Tj ET Q q 0 0 0 rg BT 84.73 573.62 Td (TING EXPENSES) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.50 572.72 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.50 572.72 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 558.62 Td (Fuel and purchased power) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.65 557.72 Td (188,521) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 557.72 Td (230,588) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 543.62 Td (Operations and maintenance) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.65 542.72 Td (221,318) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 542.72 Td (245,634) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 528.62 Td (Depreciation and amortization) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.65 527.72 Td (154,079) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 527.72 Td (148,707) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 513.62 Td (T) Tj ET Q q 0 0 0 rg BT 64.26 513.62 Td (axes other than income taxes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.65 512.72 Td (56,768) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 512.72 Td (55,090) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 498.62 Td (Other expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.15 497.72 Td (822) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.15 497.72 Td (427) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 483.62 Td (T) Tj ET Q q 0 0 0 rg BT 76.26 483.62 Td (otal) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.65 482.72 Td (621,508) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 482.72 Td (680,446) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 468.62 Td (OPERA) Tj ET Q q 0 0 0 rg BT 84.73 468.62 Td (TING INCOME) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.65 467.72 Td (40,422) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 467.72 Td (60,084) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 453.62 Td (OTHER INCOME \(DEDUCTIONS\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.50 452.72 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.50 452.72 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 438.62 Td (Allowance for equity funds used during construction) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.65 437.72 Td (7,697) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 437.72 Td (1) Tj ET Q q 0 0 0 rg BT 536.65 437.72 Td (1,188) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 423.62 Td (Pension and other postretirement non-service credits - net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.65 422.72 Td (13,91) Tj ET Q q 0 0 0 rg BT 495.15 422.72 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.65 422.72 Td (5,1) Tj ET Q q 0 0 0 rg BT 549.15 422.72 Td (14) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 408.62 Td (Other income \(Note 9\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.65 407.72 Td (12,569) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.65 407.72 Td (7,169) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 393.62 Td (Other expense \(Note 9\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.30 392.77 Td (\(4,784) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.15 392.72 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 533.30 392.77 Td (\(4,358) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 392.72 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 378.62 Td (T) Tj ET Q q 0 0 0 rg BT 76.26 378.62 Td (otal) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.65 377.72 Td (29,393) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 377.72 Td (19,1) Tj ET Q q 0 0 0 rg BT 549.15 377.72 Td (13) Tj ET Q BT 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BT 472.65 317.72 Td (55,158) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 317.72 Td (53,988) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 303.62 Td (INCOME BEFORE INCOME ) Tj ET Q q 0 0 0 rg BT 177.14 303.62 Td (T) Tj ET Q q 0 0 0 rg BT 182.75 303.62 Td (AXES) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.65 302.72 Td (14,657) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 302.72 Td (25,209) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 287.72 Td (INCOME ) Tj ET Q q 0 0 0 rg BT 94.35 287.72 Td (T) Tj ET Q q 0 0 0 rg BT 99.97 287.72 Td (AXES) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.30 287.77 Td (\(20,209) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.15 287.72 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.65 287.72 Td (2,418) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 272.72 Td (NET) Tj ET Q q 0 0 0 rg BT 71.85 272.72 Td ( INCOME) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.65 272.72 Td (34,866) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 272.72 Td (22,791) Tj 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() Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.50 133.72 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 119.62 Td (Net income attributable to common shareholders basic) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.50 118.72 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.65 118.72 Td (0.27) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 510.50 118.72 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.65 118.72 Td (0.16) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 104.62 Td (Net income attributable to common shareholders diluted) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.50 103.72 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.65 103.72 Td (0.27) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 510.50 103.72 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.65 103.72 Td (0.16) Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 85.75 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 73.75 Td (The accompanying notes are an integral part of the financial 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0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 414 130.85000000000002 m 484 130.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488 145.85000000000002 m 563 145.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488 130.85000000000002 m 563 130.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 414 102.85000000000002 m 484 102.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 414 100.85000000000002 m 484 100.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488 102.85000000000002 m 563 102.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488 100.85000000000002 m 563 100.85000000000002 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 659.53 Td () Tj ET Q BT /F2 10.50 Tf ET q 0 0 0 rg BT 425.55 670.14 Td (Mar) Tj ET Q q 0 0 0 rg BT 445.28 670.14 Td (ch 31,) Tj ET Q BT /F2 10.50 Tf ET q 0 0 0 rg BT 438.00 659.64 Td (2020) Tj ET Q BT /F2 10.50 Tf ET q 0 0 0 rg BT 494.45 670.14 Td (December) Tj ET Q q 0 0 0 rg BT 539.73 670.14 Td ( 31,) Tj ET Q BT /F2 10.50 Tf ET q 0 0 0 rg BT 514.50 659.64 Td (2019) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 645.42 Td (ASSETS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.50 644.52 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.50 644.52 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 616.42 Td (CURRENT) Tj ET Q q 0 0 0 rg BT 99.08 616.42 Td ( ) Tj ET Q q 0 0 0 rg BT 101.21 616.42 Td (ASSETS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.50 615.52 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.50 615.52 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 601.42 Td (Cash and cash equivalents) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 416.50 600.52 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.65 600.52 Td (63,139) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.50 600.52 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 600.52 Td (10,283) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 586.42 Td (Customer and other receivables) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.65 585.52 Td (258,874) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 585.52 Td (266,426) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 571.42 Td (Accrued unbilled revenues) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.65 570.52 Td (93,434) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 570.52 Td (128,165) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 556.42 Td (Allowance for doubtful accounts) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.30 555.57 Td (\(8,366) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.15 555.52 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 533.30 555.57 Td (\(8,171) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 555.52 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 541.42 Td (Materials and supplies \(at average cost\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.65 540.52 Td (323,545) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 540.52 Td (331,091) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 526.42 Td (Fossil fuel \(at average cost\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.65 525.52 Td (16,930) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 525.52 Td (14,829) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 511.42 Td (Income tax receivable) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.65 510.52 Td (20,599) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 510.52 Td (21,727) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 496.42 Td (Assets from risk management activities \(Note 7\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.65 495.52 Td (2,108) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.15 495.52 Td (515) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 481.42 Td (Deferred fuel and purchased power regulatory asset \(Note 4\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.65 480.52 Td (77,730) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 480.52 Td (70,137) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 466.42 Td (Other regulatory assets \(Note 4\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.65 465.52 Td (147,741) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 465.52 Td (133,070) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 451.42 Td (Other current assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.65 450.52 Td (82,573) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 450.52 Td (61,958) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 436.42 Td (T) Tj ET Q q 0 0 0 rg BT 76.26 436.42 Td (otal current assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.15 435.52 Td (1,078,307) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.15 435.52 Td (1,030,030) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 420.97 Td (INVESTMENTS ) Tj ET Q q 0 0 0 rg BT 124.17 420.97 Td (AND OTHER ) Tj ET Q q 0 0 0 rg BT 183.61 420.97 Td (ASSETS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.50 420.97 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.50 420.97 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 406.42 Td (Nuclear decommissioning trust \(Notes 1) Tj ET Q q 0 0 0 rg BT 219.95 406.42 Td (1 and 12\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.65 405.52 Td (920,426) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.15 405.52 Td (1,010,775) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 391.42 Td (Other special use funds \(Notes 1) Tj ET Q q 0 0 0 rg BT 188.56 391.42 Td (1 and 12\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.65 390.52 Td (252,723) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 390.52 Td (245,095) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 376.42 Td (Other assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.65 375.52 Td (97,822) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 375.52 Td (96,953) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 361.42 Td (T) Tj ET Q q 0 0 0 rg BT 76.26 361.42 Td (otal investments and other assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.15 360.52 Td (1,270,971) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.15 360.52 Td (1,352,823) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 345.97 Td (PROPER) Tj ET Q q 0 0 0 rg BT 89.69 345.97 Td (TY) Tj ET Q q 0 0 0 rg BT 101.73 345.97 Td (, PLANT) Tj ET Q q 0 0 0 rg BT 138.77 345.97 Td ( ) Tj ET Q q 0 0 0 rg BT 140.72 345.97 Td (AND EQUIPMENT) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.50 345.97 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.50 345.97 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 331.42 Td (Plant in service and held for future use) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.15 330.52 Td (19,930,983) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 514.15 330.52 Td (19,836,292) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 316.42 Td (Accumulated depreciation and amortization) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 436.80 315.57 Td (\(6,784,467) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.15 315.52 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.80 315.57 Td (\(6,637,857) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 315.52 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 301.42 Td (Net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.15 300.52 Td (13,146,516) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 514.15 300.52 Td (13,198,435) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 286.42 Td (Construction work in progress) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.65 285.52 Td (942,258) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 285.52 Td (808,133) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 271.42 Td (Palo ) Tj ET Q q 0 0 0 rg BT 78.69 271.42 Td (V) Tj ET Q q 0 0 0 rg BT 85.27 271.42 Td (erde sale leaseback, net of accumulated depreciation \(Note 6\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.65 270.52 Td (100,938) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 270.52 Td (101,906) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 256.42 Td (Intangible assets, net of accumulated amortization) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.65 255.52 Td (279,238) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 255.52 Td (290,564) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 241.42 Td (Nuclear fuel, net of accumulated amortization) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.65 240.52 Td (168,457) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 240.52 Td (123,500) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 226.42 Td (T) Tj ET Q q 0 0 0 rg BT 76.26 226.42 Td (otal property) Tj ET Q q 0 0 0 rg BT 126.96 226.42 Td (, plant and equipment) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.15 225.52 Td (14,637,407) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 514.15 225.52 Td (14,522,538) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 211.42 Td (DEFERRED DEBITS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.50 210.52 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.50 210.52 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 196.42 Td (Regulatory assets \(Note 4\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.15 195.52 Td (1,302,448) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.15 195.52 Td (1,304,073) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 181.42 Td (Operating lease right-of-use assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.65 180.52 Td (144,380) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 180.52 Td (145,813) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 166.42 Td (Assets for other postretirement benefits \(Note 5\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.65 165.52 Td (96,243) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 165.52 Td (90,570) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 151.42 Td (Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.65 150.52 Td (32,004) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 150.52 Td (33,400) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 136.42 Td (T) Tj ET Q q 0 0 0 rg BT 75.91 136.42 Td (otal deferred debits) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.15 135.52 Td (1,575,075) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.15 135.52 Td (1,573,856) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 107.42 Td (T) Tj ET Q q 0 0 0 rg BT 58.43 107.42 Td (OT) Tj ET Q q 0 0 0 rg BT 70.96 107.42 Td (AL) Tj ET Q q 0 0 0 rg BT 83.92 107.42 Td ( ) Tj ET Q q 0 0 0 rg BT 85.86 107.42 Td (ASSETS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 416.50 106.52 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.15 106.52 Td (18,561,760) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.50 106.52 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 514.15 106.52 Td (18,479,247) Tj ET Q BT /F1 11.50 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 90.35 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 78.35 Td (The accompanying notes are an integral part of the financial statements.) Tj ET Q endstream endobj 21 0 obj <> endobj 22 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 303.10 30.55 Td (8) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 202.30 742.25 Td (PINNACLE ) Tj ET Q q 0 0 0 rg BT 256.85 742.25 Td (WEST) Tj ET Q q 0 0 0 rg BT 285.57 742.25 Td ( CAPIT) Tj ET Q q 0 0 0 rg BT 318.44 742.25 Td (AL) Tj ET Q q 0 0 0 rg BT 331.78 742.25 Td ( CORPORA) Tj ET Q q 0 0 0 rg BT 384.09 742.25 Td (TION) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 186.75 730.25 Td (CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 311.86 730.25 Td (TED BALANCE SHEETS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 282.95 718.25 Td (\(unaudited\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 262.65 706.25 Td (\(dollars in thousands\)) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.00 670.75 371.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 420.00 670.75 70.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 490.00 670.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.00 670.75 68.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.00 652.75 371.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 420.00 652.75 70.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 490.00 652.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.00 652.75 68.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.00 624.75 371.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 420.00 624.75 70.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 490.00 624.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.00 624.75 68.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.00 596.75 371.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 420.00 596.75 70.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 490.00 596.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.00 596.75 68.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.00 568.75 371.00 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/GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 490.00 484.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.00 484.75 68.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.00 456.75 371.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 420.00 456.75 70.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 490.00 456.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.00 456.75 68.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.00 428.75 371.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 420.00 428.75 70.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 490.00 428.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.00 428.75 68.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.00 400.75 371.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 420.00 400.75 70.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 490.00 400.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.00 400.75 68.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.00 372.75 371.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 420.00 372.75 70.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 490.00 372.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.00 372.75 68.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.00 344.75 371.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 420.00 344.75 70.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 490.00 344.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.00 344.75 68.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.00 316.75 371.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 420.00 316.75 70.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 490.00 316.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.00 316.75 68.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.00 288.75 371.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 420.00 288.75 70.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 490.00 288.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.00 288.75 68.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.00 260.75 371.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 420.00 260.75 70.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 490.00 260.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.00 260.75 68.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.00 232.75 371.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 420.00 232.75 70.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 490.00 232.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.00 232.75 68.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.00 193.75 371.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 420.00 193.75 70.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 490.00 193.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.00 193.75 68.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.00 165.75 371.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 420.00 165.75 70.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 490.00 165.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.00 165.75 68.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.00 137.75 371.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 420.00 137.75 70.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 490.00 137.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.00 137.75 68.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.00 109.75 371.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 420.00 109.75 70.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 490.00 109.75 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.00 109.75 68.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 420 670.75 m 490 670.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494 670.75 m 562 670.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 420 470.75 m 490 470.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 420 456.75 m 490 456.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494 470.75 m 562 470.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494 456.75 m 562 456.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 420 442.75 m 490 442.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494 442.75 m 562 442.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 420 274.75 m 490 274.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 420 260.75 m 490 260.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494 274.75 m 562 274.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i 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m 562 83.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494 81.75 m 562 81.75 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 51.50 675.43 Td () Tj ET Q BT /F2 10.50 Tf ET q 0 0 0 rg BT 431.55 686.04 Td (Mar) Tj ET Q q 0 0 0 rg BT 451.28 686.04 Td (ch 31,) Tj ET Q BT /F2 10.50 Tf ET q 0 0 0 rg BT 444.00 675.54 Td (2020) Tj ET Q BT /F2 10.50 Tf ET q 0 0 0 rg BT 496.95 686.04 Td (December) Tj ET Q q 0 0 0 rg BT 542.23 686.04 Td ( 31,) Tj ET Q BT /F2 10.50 Tf ET q 0 0 0 rg BT 517.00 675.54 Td (2019) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 661.32 Td (LIABILITIES ) Tj ET Q q 0 0 0 rg BT 110.93 661.32 Td (AND EQUITY) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.50 661.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.50 661.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 643.32 Td (CURRENT) Tj ET Q q 0 0 0 rg BT 98.08 643.32 Td ( LIABILITIES) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.50 643.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.50 643.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.50 629.32 Td (Accounts payable) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.50 629.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.65 629.32 Td (301,325) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.50 629.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 629.32 Td (346,448) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.50 615.32 Td (Accrued taxes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.65 615.32 Td (194,732) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 615.32 Td (144,899) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.50 601.32 Td (Accrued interest) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.65 601.32 Td (53,608) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.65 601.32 Td (53,534) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.50 587.32 Td (Common dividends payable) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.15 587.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.65 587.32 Td (87,982) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.50 573.32 Td (Short-term borrowings \(Note 3\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.65 573.32 Td (563,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 573.32 Td (1) Tj ET Q q 0 0 0 rg BT 530.65 573.32 Td (14,675) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.50 559.32 Td (Current maturities of long-term debt \(Note 3\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.65 559.32 Td (650,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 559.32 Td (800,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.50 545.32 Td (Customer deposits) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.65 545.32 Td (54,965) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.65 545.32 Td (64,908) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.50 531.32 Td (Liabilities from risk management activities \(Note 7\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.65 531.32 Td (54,784) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.65 531.32 Td (38,946) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.50 517.32 Td (Liabilities for asset retirements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.65 517.32 Td (10,095) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.65 517.32 Td (1) Tj ET Q q 0 0 0 rg BT 535.65 517.32 Td (1,025) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.50 503.32 Td (Operating lease liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.65 503.32 Td (12,360) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.65 503.32 Td (12,713) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.50 489.32 Td (Regulatory liabilities \(Note 4\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.65 489.32 Td (279,105) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 489.32 Td (234,912) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.50 475.32 Td (Other current liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.65 475.32 Td (121,514) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 475.32 Td (168,323) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.50 461.32 Td (T) Tj ET Q q 0 0 0 rg BT 75.26 461.32 Td (otal current liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 446.15 461.32 Td (2,295,488) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.15 461.32 Td (2,078,365) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 447.32 Td (LONG-TERM DEBT) Tj ET Q q 0 0 0 rg BT 138.90 447.32 Td ( LESS CURRENT) Tj ET Q q 0 0 0 rg BT 213.73 447.32 Td ( MA) Tj ET Q q 0 0 0 rg BT 231.70 447.32 Td (TURITIES \(Note 3\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 446.15 447.32 Td (4,833,324) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.15 447.32 Td (4,832,558) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 433.32 Td (DEFERRED CREDITS ) Tj ET Q q 0 0 0 rg BT 149.56 433.32 Td (AND OTHER) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.50 433.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.50 433.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.50 419.32 Td (Deferred income taxes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 446.15 419.32 Td (2,016,770) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.15 419.32 Td (1,992,339) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.50 405.32 Td (Regulatory liabilities \(Note 4\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 446.15 405.32 Td (2,067,801) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.15 405.32 Td (2,267,835) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.50 391.32 Td (Liabilities for asset retirements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.65 391.32 Td (649,226) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 391.32 Td (646,193) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.50 377.32 Td (Liabilities for pension benefits \(Note 5\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.65 377.32 Td (273,284) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 377.32 Td (280,185) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.50 363.32 Td (Liabilities from risk management activities \(Note 7\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.65 363.32 Td (32,577) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.65 363.32 Td (33,186) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.50 349.32 Td (Customer advances) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.65 349.32 Td (212,545) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 349.32 Td (215,330) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.50 335.32 Td (Coal mine reclamation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.65 335.32 Td (166,796) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 335.32 Td (165,695) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.50 321.32 Td (Deferred investment tax credit) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.65 321.32 Td (196,002) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 321.32 Td (196,468) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.50 307.32 Td (Unrecognized tax benefits) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.65 307.32 Td (6,400) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 307.32 Td (6,189) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.50 293.32 Td (Operating lease liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.65 293.32 Td (51,198) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.65 293.32 Td (51,872) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.50 279.32 Td (Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.65 279.32 Td (163,517) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 279.32 Td (159,844) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.50 265.32 Td (T) Tj ET Q q 0 0 0 rg BT 75.26 265.32 Td (otal deferred credits and other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 446.15 265.32 Td (5,836,1) Tj ET Q q 0 0 0 rg BT 476.15 265.32 Td (16) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.15 265.32 Td (6,015,136) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 251.32 Td (COMMITMENTS ) Tj ET Q q 0 0 0 rg BT 128.73 251.32 Td (AND CONTINGENCIES \(SEE NOTE 8\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 237.32 Td (EQUITY) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.50 237.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.50 237.32 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.50 223.32 Td (Common stock, no par value; authorized 150,000,000 shares, 1) Tj ET Q q 0 0 0 rg BT 310.04 223.32 Td (12,563,610 and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.50 213.32 Td (1) Tj ET Q q 0 0 0 rg BT 62.31 213.32 Td (12,540,126 issued at respective dates) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 446.15 212.42 Td (2,664,387) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.15 212.42 Td (2,659,561) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.50 198.32 Td (T) Tj ET Q q 0 0 0 rg BT 63.43 198.32 Td (reasury stock at cost; 72,302 and 103,546 shares at respective dates) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 460.30 198.37 Td (\(7,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.15 198.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.30 198.37 Td (\(9,427) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 198.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.50 184.32 Td (T) Tj ET Q q 0 0 0 rg BT 75.26 184.32 Td (otal common stock) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 446.15 184.32 Td (2,657,387) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.15 184.32 Td (2,650,134) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.50 170.32 Td (Retained earnings) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 446.15 170.32 Td (2,867,610) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.15 170.32 Td (2,837,610) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.50 156.32 Td (Accumulated other comprehensive loss) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 455.30 156.37 Td (\(55,579) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.15 156.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.30 156.37 Td (\(57,096) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 156.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.50 142.32 Td (T) Tj ET Q q 0 0 0 rg BT 63.26 142.32 Td (otal shareholders) Tj ET Q q 0 0 0 rg BT 133.90 142.32 Td ( equity) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 446.15 142.32 Td (5,469,418) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.15 142.32 Td (5,430,648) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.50 128.32 Td (Noncontrolling interests \(Note 6\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.65 128.32 Td (127,414) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 128.32 Td (122,540) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.50 114.32 Td (T) Tj ET Q q 0 0 0 rg BT 74.91 114.32 Td (otal equity) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 446.15 114.32 Td (5,596,832) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.15 114.32 Td (5,553,188) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 87.32 Td (T) Tj ET Q q 0 0 0 rg BT 57.43 87.32 Td (OT) Tj ET Q q 0 0 0 rg BT 69.96 87.32 Td (AL) Tj ET Q q 0 0 0 rg BT 82.92 87.32 Td ( LIABILITIES ) Tj ET Q q 0 0 0 rg BT 144.57 87.32 Td (AND EQUITY) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.50 87.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 441.15 87.32 Td (18,561,760) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.50 87.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 513.15 87.32 Td (18,479,247) Tj ET Q BT /F1 11.50 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 71.25 Td (The accompanying notes are an integral part of the financial statements.) Tj ET Q endstream endobj 23 0 obj <> endobj 24 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 303.10 32.55 Td (9) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 186.75 743.75 Td (PINNACLE ) Tj ET Q q 0 0 0 rg BT 249.48 743.75 Td (WEST) Tj ET Q q 0 0 0 rg BT 282.51 743.75 Td ( CAPIT) Tj ET Q q 0 0 0 rg BT 320.31 743.75 Td (AL) Tj ET Q q 0 0 0 rg BT 335.65 743.75 Td ( CORPORA) Tj ET Q q 0 0 0 rg BT 395.81 743.75 Td (TION) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 133.50 729.95 Td (CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 277.38 729.95 Td (TED ST) Tj ET Q q 0 0 0 rg BT 317.12 729.95 Td (A) Tj ET Q q 0 0 0 rg BT 324.57 729.95 Td (TEMENTS OF) Tj ET Q q 0 0 0 rg BT 399.22 729.95 Td ( CASH FLOWS) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 279.45 716.15 Td (\(unaudited\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 256.15 702.35 Td (\(dollars in thousands\)) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 652.85 369.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 419.00 652.85 70.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.00 652.85 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 652.85 70.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 628.85 369.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 419.00 628.85 70.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.00 628.85 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 628.85 70.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 604.85 369.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 419.00 604.85 70.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.00 604.85 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 604.85 70.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 580.85 369.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 419.00 580.85 70.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.00 580.85 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 580.85 70.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 556.85 369.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 419.00 556.85 70.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.00 556.85 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 556.85 70.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 529.85 369.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 419.00 529.85 70.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.00 529.85 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 529.85 70.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 506.85 369.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 419.00 506.85 70.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.00 506.85 4.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 506.85 70.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 480.85 369.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 419.00 480.85 70.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.00 480.85 4.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 480.85 70.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 458.85 369.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 419.00 458.85 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.00 458.85 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 458.85 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 432.85 369.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 419.00 432.85 70.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.00 432.85 4.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 432.85 70.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 409.85 369.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 419.00 409.85 70.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.00 409.85 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 409.85 70.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 385.85 369.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 419.00 385.85 70.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.00 385.85 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 385.85 70.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 361.85 369.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 419.00 361.85 70.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.00 361.85 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 361.85 70.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 337.85 369.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 419.00 337.85 70.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.00 337.85 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 337.85 70.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 313.85 369.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 419.00 313.85 70.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.00 313.85 4.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 313.85 70.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 290.85 369.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 419.00 290.85 70.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.00 290.85 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 290.85 70.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 266.85 369.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 419.00 266.85 70.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.00 266.85 4.00 -12.00 re f /GS0 gs 0.8 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0.9333333333333333 1 rg /GS0 gs 50.00 167.85 369.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 419.00 167.85 70.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.00 167.85 4.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 167.85 70.00 -12.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 419 664.85 m 489 664.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 489 664.85 m 493 664.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493 664.85 m 563 664.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 419 664.85 m 489 664.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 419 652.85 m 489 652.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493 664.85 m 563 664.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493 652.85 m 563 652.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 419 397.85 m 489 397.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 419 385.85 m 489 385.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 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155.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 419 144.85000000000002 m 489 144.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 419 142.85000000000002 m 489 142.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493 144.85000000000002 m 563 144.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493 142.85000000000002 m 563 142.85000000000002 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 669.53 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 445.00 679.53 Td (Thr) Tj ET Q q 0 0 0 rg BT 461.58 679.53 Td (ee Months Ended) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 468.65 669.53 Td (Mar) Tj ET Q q 0 0 0 rg BT 487.44 669.53 Td (ch 31,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 655.58 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 443.50 655.58 Td (2020) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 517.50 655.58 Td (2019) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 643.47 Td (CASH FLOWS FROM OPERA) Tj ET Q q 0 0 0 rg BT 181.14 643.47 Td (TING ) Tj ET Q q 0 0 0 rg BT 206.69 643.47 Td (ACTIVITIES) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 631.47 Td (Net income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.50 631.47 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.65 631.47 Td (34,866) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.50 631.47 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 631.47 Td (22,791) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 619.47 Td (Adjustments to reconcile net income to net cash provided by operating activities:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 607.47 Td (Depreciation and amortization including nuclear fuel) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.65 607.47 Td (173,168) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 607.47 Td (167,801) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 595.47 Td (Deferred fuel and purchased power) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.30 595.47 Td (\(5,785) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.15 595.47 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 595.47 Td (16,709) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 583.47 Td (Deferred fuel and purchased power amortization) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.30 583.47 Td (\(1,808) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.15 583.47 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 583.47 Td (12,872) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 571.47 Td (Allowance for equity funds used during construction) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.30 571.47 Td (\(7,697) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.15 571.47 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 528.30 571.47 Td (\(1) Tj ET Q q 0 0 0 rg BT 536.63 571.47 Td (1,188) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 571.47 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 559.47 Td (Deferred income taxes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.30 559.47 Td (\(18,086) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.15 559.47 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.65 559.47 Td (3,620) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 547.47 Td (Deferred investment tax credit) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.80 547.47 Td (\(465) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.15 547.47 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.80 547.47 Td (\(353) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 547.47 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 534.52 Td (Stock compensation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.65 534.52 Td (6,282) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 534.52 Td (12,074) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 520.47 Td (Changes in current assets and liabilities:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 508.47 Td (Customer and other receivables) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.65 508.47 Td (25,575) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 508.47 Td (15,476) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 497.47 Td (Accrued unbilled revenues) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.65 497.47 Td (34,731) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 497.47 Td (23,093) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 485.52 Td (Materials, supplies and fossil fuel) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.65 485.52 Td (5,445) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 528.30 485.57 Td (\(13,057) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 485.52 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 471.47 Td (Income tax receivable) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.65 471.47 Td (1,128) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.15 471.47 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 460.47 Td (Other current assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.30 460.47 Td (\(20,202) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.15 460.47 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 528.30 460.47 Td (\(10,1) Tj ET Q q 0 0 0 rg BT 549.13 460.47 Td (15) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 460.47 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 448.52 Td (Accounts payable) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.30 448.57 Td (\(5,192) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.15 448.52 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 448.52 Td (26,593) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 434.47 Td (Accrued taxes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.65 434.47 Td (49,833) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 434.47 Td (45,130) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 423.47 Td (Other current liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.30 423.47 Td (\(63,096) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.15 423.47 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 528.30 423.47 Td (\(86,250) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 423.47 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 412.47 Td (Change in other long-term assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.65 412.47 Td (81,143) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 528.30 412.47 Td (\(65,470) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 412.47 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 400.47 Td (Change in other long-term liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.30 400.47 Td (\(106,212) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.15 400.47 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 400.47 Td (13,706) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 388.47 Td (Net cash flow provided by operating activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.65 388.47 Td (183,628) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 388.47 Td (173,432) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 376.47 Td (CASH FLOWS FROM INVESTING ) Tj ET Q q 0 0 0 rg BT 204.46 376.47 Td (ACTIVITIES) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 364.47 Td (Capital expenditures) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.30 364.47 Td (\(340,014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.15 364.47 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 523.30 364.47 Td (\(259,792) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 364.47 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 352.47 Td (Contributions in aid of construction) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.65 352.47 Td (3,152) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.65 352.47 Td (7,938) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 340.47 Td (Allowance for borrowed funds used during construction) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.30 340.47 Td (\(4,076) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.15 340.47 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 533.30 340.47 Td (\(6,665) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 340.47 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 328.47 Td (Proceeds from nuclear decommissioning trust sales and other special use funds) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.65 328.47 Td (195,087) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 328.47 Td (179,048) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 316.47 Td (Investment in nuclear decommissioning trust and other special use funds) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.30 316.47 Td (\(195,658) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.15 316.47 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 523.30 316.47 Td (\(179,618) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 316.47 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 304.47 Td (Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 470.15 304.47 Td (349) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.65 304.47 Td (4,576) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 293.47 Td (Net cash flow used for investing activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.30 293.47 Td (\(341,160) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.15 293.47 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 523.30 293.47 Td (\(254,513) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 293.47 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 281.47 Td (CASH FLOWS FROM FINANCING ) Tj ET Q q 0 0 0 rg BT 206.14 281.47 Td (ACTIVITIES) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 269.47 Td (Issuance of long-term debt) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 475.15 269.47 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 269.47 Td (497,324) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 257.47 Td (Short-term borrowing and payments net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.30 257.47 Td (\(76,675) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.15 257.47 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 257.47 Td (172,650) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 245.47 Td (Short-term debt borrowings) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.65 245.47 Td (751,690) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.15 245.47 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 233.47 Td (Short-term debt repayments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.30 233.47 Td (\(226,690) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.15 233.47 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 533.30 233.47 Td (\(5,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 233.47 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 221.47 Td (Dividends paid on common stock) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.30 221.47 Td (\(86,257) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.15 221.47 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 528.30 221.47 Td (\(80,897) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 221.47 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 208.52 Td (Repayment of long-term debt) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.30 208.57 Td (\(150,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.15 208.52 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 523.30 208.57 Td (\(500,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 208.52 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 194.47 Td (Common stock equity issuance - net of purchases) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.30 194.47 Td (\(1,680) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.15 194.47 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 533.30 194.47 Td (\(2,653) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 194.47 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 182.47 Td (Net cash flow provided by financing activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.65 182.47 Td (210,388) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 182.47 Td (81,424) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 170.47 Td (NET) Tj ET Q q 0 0 0 rg BT 71.85 170.47 Td ( INCREASE IN CASH ) Tj ET Q q 0 0 0 rg BT 167.60 170.47 Td (AND CASH EQUIV) Tj ET Q q 0 0 0 rg BT 251.12 170.47 Td (ALENTS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.65 170.47 Td (52,856) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.15 170.47 Td (343) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 158.47 Td (CASH ) Tj ET Q q 0 0 0 rg BT 81.40 158.47 Td (AND CASH EQUIV) Tj ET Q q 0 0 0 rg BT 164.92 158.47 Td (ALENTS ) Tj ET Q q 0 0 0 rg BT 204.83 158.47 Td (A) Tj ET Q q 0 0 0 rg BT 211.22 158.47 Td (T) Tj ET Q q 0 0 0 rg BT 216.69 158.47 Td ( BEGINNING OF PERIOD) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.65 158.47 Td (10,283) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.65 158.47 Td (5,766) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 146.47 Td (CASH ) Tj ET Q q 0 0 0 rg BT 81.12 146.47 Td (AND CASH EQUIV) Tj ET Q q 0 0 0 rg BT 164.28 146.47 Td (ALENTS ) Tj ET Q q 0 0 0 rg BT 204.56 146.47 Td (A) Tj ET Q q 0 0 0 rg BT 210.67 146.47 Td (T) Tj ET Q q 0 0 0 rg BT 216.60 146.47 Td ( END OF PERIOD) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.50 146.47 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.65 146.47 Td (63,139) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.50 146.47 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.65 146.47 Td (6,109) Tj ET Q BT /F1 11.50 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 132.35 Td (The accompanying notes are an integral part of the financial statements.) Tj ET Q endstream endobj 25 0 obj <> endobj 26 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 32.55 Td (10) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 186.75 743.75 Td (PINNACLE ) Tj ET Q q 0 0 0 rg BT 249.48 743.75 Td (WEST) Tj ET Q q 0 0 0 rg BT 282.51 743.75 Td ( CAPIT) Tj ET Q q 0 0 0 rg BT 320.31 743.75 Td (AL) Tj ET Q q 0 0 0 rg BT 335.65 743.75 Td ( CORPORA) Tj ET Q q 0 0 0 rg BT 395.81 743.75 Td (TION) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 111.50 729.95 Td (CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 255.38 729.95 Td (TED ST) Tj ET Q q 0 0 0 rg BT 295.12 729.95 Td (A) Tj ET Q q 0 0 0 rg BT 302.57 729.95 Td (TEMENTS OF) Tj ET Q q 0 0 0 rg BT 377.22 729.95 Td ( CHANGES IN EQUITY) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 279.45 716.15 Td (\(unaudited\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 256.15 702.35 Td (\(dollars in thousands\)) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 605.85 115.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 165.00 605.85 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gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 515 462.85 m 519 462.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519 464.85 m 563 464.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519 462.85 m 563 462.85 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.20 666.52 Td (Three Months Ended March 31, 2020) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 187.45 631.10 Td (Common Stock) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 281.30 631.10 Td (T) Tj ET Q q 0 0 0 rg BT 286.05 631.10 Td (reasury Stock) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 358.25 639.10 Td (Retained) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 358.25 631.10 Td (Earnings) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 405.65 653.80 Td (Accumulated) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 417.85 645.80 Td (Other) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 401.85 637.80 Td (Comprehensive) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 403.75 629.80 Td (Income \(Loss\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 462.55 639.10 Td (Noncontrolling) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 473.40 631.10 Td (Interests) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.30 631.10 Td (T) Tj ET Q q 0 0 0 rg BT 536.63 631.10 Td (otal) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 177.00 610.31 Td (Shares) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 224.20 610.31 Td (Amount) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 271.50 610.31 Td (Shares) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 311.70 610.31 Td (Amount) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 596.31 Td (Balance, January 1, 2020) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 170.75 596.10 Td (1) Tj ET Q q 0 0 0 rg BT 174.75 596.10 Td (12,540,126) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 220.50 596.10 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 225.75 596.10 Td (2,659,561) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 271.10 596.10 Td (\(103,546) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 299.80 596.10 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 309.50 596.10 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 323.10 596.10 Td (\(9,427) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 343.80 596.10 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 353.50 596.10 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 359.75 596.10 Td (2,837,610) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 401.50 596.10 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 426.80 596.10 Td (\(57,096) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 451.50 596.10 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 462.50 596.10 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 484.50 596.10 Td (122,540) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 521.50 596.10 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 526.50 596.10 Td (5,553,188) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 582.31 Td (Net income) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 249.80 582.10 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 335.75 582.10 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 369.75 582.10 Td (29,993) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 443.50 582.10 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 492.50 582.10 Td (4,873) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.50 582.10 Td (34,866) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 568.31 Td (Other comprehensive income) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 249.80 568.10 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 335.75 568.10 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 383.80 568.10 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 433.50 568.10 Td (1,517) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 502.50 568.10 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.50 568.10 Td (1,517) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 554.31 Td (Dividends on common stock) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 249.80 554.10 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 335.75 554.10 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 387.80 554.10 Td (8) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 443.50 554.10 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 502.50 554.10 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 554.50 554.10 Td (8) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 540.31 Td (Issuance of common stock) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 188.75 540.10 Td (23,484) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 239.75 540.10 Td (4,826) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 383.80 540.10 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 443.50 540.10 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 502.50 540.10 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.50 540.10 Td (4,826) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 526.31 Td (Purchase of treasury stock \(a\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 249.80 526.10 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 275.10 526.10 Td (\(20,724) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 299.80 526.10 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 323.10 526.10 Td (\(2,086) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 343.80 526.10 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 383.80 526.10 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 443.50 526.10 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 502.50 526.10 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 537.80 526.10 Td (\(2,086) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.50 526.10 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 513.11 Td (Reissuance of treasury stock) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 504.11 Td (for stock-based compensation) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 495.11 Td (and other) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 249.80 496.10 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 277.80 496.10 Td (51,968) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 325.75 496.10 Td (4,513) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 383.80 496.10 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 443.50 496.10 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 502.50 496.10 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.50 496.10 Td (4,513) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 482.31 Td (Other) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 249.80 482.10 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 291.80 482.10 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 335.75 482.10 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 385.10 482.10 Td (\(1) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 391.80 482.10 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 443.50 482.10 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 506.50 482.10 Td (1) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 550.50 482.10 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 468.31 Td (Balance, March 31, 2020) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 170.75 468.10 Td (1) Tj ET Q q 0 0 0 rg BT 174.75 468.10 Td (12,563,610) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 220.50 468.10 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 225.75 468.10 Td (2,664,387) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 275.10 468.10 Td (\(72,302) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 299.80 468.10 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 309.50 468.10 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 323.10 468.10 Td (\(7,000) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 343.80 468.10 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 353.50 468.10 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 359.75 468.10 Td (2,867,610) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 401.50 468.10 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 426.80 468.10 Td (\(55,579) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 451.50 468.10 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 462.50 468.10 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 484.50 468.10 Td (127,414) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 521.50 468.10 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 526.50 468.10 Td (5,596,832) Tj ET Q BT /F1 11.50 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 49.00 361.85 115.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 164.00 361.85 49.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 213.00 361.85 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 217.00 361.85 43.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 260.00 361.85 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 264.00 361.85 38.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 302.00 361.85 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 306.00 361.85 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 346.00 361.85 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 350.00 361.85 44.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.00 361.85 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 398.00 361.85 57.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.00 361.85 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.00 361.85 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 514.00 361.85 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 518.00 361.85 44.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.00 333.85 115.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 164.00 333.85 49.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 213.00 333.85 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 217.00 333.85 43.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 260.00 333.85 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 264.00 333.85 38.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 302.00 333.85 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 306.00 333.85 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 346.00 333.85 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 350.00 333.85 44.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.00 333.85 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 398.00 333.85 57.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.00 333.85 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.00 333.85 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 514.00 333.85 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 518.00 333.85 44.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.00 305.85 115.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 164.00 305.85 49.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 213.00 305.85 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 217.00 305.85 43.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 260.00 305.85 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 264.00 305.85 38.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 302.00 305.85 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 306.00 305.85 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 346.00 305.85 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 350.00 305.85 44.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.00 305.85 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 398.00 305.85 57.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.00 305.85 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.00 305.85 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 514.00 305.85 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 518.00 305.85 44.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.00 277.85 115.00 -31.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 164.00 277.85 49.00 -31.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 213.00 277.85 4.00 -31.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 217.00 277.85 43.00 -31.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 260.00 277.85 4.00 -31.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 264.00 277.85 38.00 -31.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 302.00 277.85 4.00 -31.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 306.00 277.85 40.00 -31.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 346.00 277.85 4.00 -31.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 350.00 277.85 44.00 -31.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.00 277.85 4.00 -31.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 398.00 277.85 57.00 -31.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.00 277.85 4.00 -31.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.00 277.85 55.00 -31.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 514.00 277.85 4.00 -31.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 518.00 277.85 44.00 -31.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 164 417.85 m 213 417.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 213 417.85 m 217 417.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 217 417.85 m 260 417.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 260 417.85 m 264 417.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 264 417.85 m 302 417.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 302 417.85 m 306 417.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 306 417.85 m 346 417.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 346 417.85 m 350 417.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 350 417.85 m 394 417.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 394 417.85 m 398 417.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 398 417.85 m 455 417.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 455 417.85 m 459 417.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459 417.85 m 514 417.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 514 417.85 m 518 417.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 518 417.85 m 562 417.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 164 417.85 m 213 417.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 164 382.85 m 213 382.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 213 417.85 m 217 417.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 213 382.85 m 217 382.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 217 417.85 m 260 417.85 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233.85000000000002 m 455 233.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 398 231.85000000000002 m 455 231.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 455 233.85000000000002 m 459 233.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 455 231.85000000000002 m 459 231.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459 233.85000000000002 m 514 233.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459 231.85000000000002 m 514 231.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 514 233.85000000000002 m 518 233.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 514 231.85000000000002 m 518 231.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 518 233.85000000000002 m 562 233.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 518 231.85000000000002 m 562 231.85000000000002 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.20 422.52 Td (Three Months Ended March 31, 2019) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 186.45 387.10 Td (Common Stock) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 280.30 387.10 Td (T) Tj ET Q q 0 0 0 rg BT 285.05 387.10 Td (reasury Stock) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 357.25 395.10 Td (Retained) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 357.25 387.10 Td (Earnings) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 404.65 409.80 Td (Accumulated) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 416.85 401.80 Td (Other) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 400.85 393.80 Td (Comprehensive) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 402.75 385.80 Td (Income \(Loss\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 461.55 395.10 Td (Noncontrolling) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 472.40 387.10 Td (Interests) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 531.30 387.10 Td (T) Tj ET Q q 0 0 0 rg BT 535.63 387.10 Td (otal) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 176.00 366.31 Td (Shares) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 223.20 366.31 Td (Amount) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 270.50 366.31 Td (Shares) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 310.70 366.31 Td (Amount) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 51.50 352.31 Td (Balance, January 1, 2019) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 169.75 352.10 Td (1) Tj ET Q q 0 0 0 rg BT 173.75 352.10 Td (12,159,896) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 219.50 352.10 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 224.75 352.10 Td (2,634,265) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 274.10 352.10 Td (\(58,135) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 298.80 352.10 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 308.50 352.10 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 322.10 352.10 Td (\(4,825) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 342.80 352.10 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 352.50 352.10 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 358.75 352.10 Td (2,641,183) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 400.50 352.10 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 425.80 352.10 Td (\(47,708) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 450.50 352.10 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 461.50 352.10 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 483.50 352.10 Td (125,790) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 520.50 352.10 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 525.50 352.10 Td (5,348,705) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 51.50 338.31 Td (Net income) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 248.80 338.10 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 334.75 338.10 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 368.75 338.10 Td (17,918) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 442.50 338.10 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 491.50 338.10 Td (4,873) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 535.50 338.10 Td (22,791) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 51.50 324.31 Td (Other comprehensive income) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 248.80 324.10 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 334.75 324.10 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 382.80 324.10 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 432.50 324.10 Td (1,207) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 501.50 324.10 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 539.50 324.10 Td (1,207) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 51.50 310.31 Td (Dividends on common stock) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 248.80 310.10 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 334.75 310.10 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 380.10 310.10 Td (\(15) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 390.80 310.10 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 442.50 310.10 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 501.50 310.10 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 546.80 310.10 Td (\(15) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 557.50 310.10 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 51.50 296.31 Td (Issuance of common stock) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 183.75 296.10 Td (180,426) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 238.75 296.10 Td (9,798) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 334.75 296.10 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 382.80 296.10 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 442.50 296.10 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 501.50 296.10 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 539.50 296.10 Td (9,798) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 51.50 282.31 Td (Purchase of treasury stock \(a\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 248.80 282.10 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 274.10 282.10 Td (\(75,791) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 298.80 282.10 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 322.10 282.10 Td (\(6,882) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 342.80 282.10 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 382.80 282.10 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 442.50 282.10 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 501.50 282.10 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.80 282.10 Td (\(6,882) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 557.50 282.10 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 51.50 269.11 Td (Reissuance of treasury stock) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 51.50 260.11 Td (for stock-based compensation) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 51.50 251.11 Td (and other) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 248.80 251.10 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 276.80 251.10 Td (70,655) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 324.75 251.10 Td (6,121) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 382.80 251.10 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 442.50 251.10 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 501.50 251.10 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 539.50 251.10 Td (6,121) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 51.50 237.31 Td (Balance, March 31, 2019) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 169.75 237.10 Td (1) Tj ET Q q 0 0 0 rg BT 173.75 237.10 Td (12,340,322) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 219.50 237.10 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 224.75 237.10 Td (2,644,063) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 274.10 237.10 Td (\(63,271) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 298.80 237.10 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 308.50 237.10 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 322.10 237.10 Td (\(5,586) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 342.80 237.10 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 352.50 237.10 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 358.75 237.10 Td (2,659,086) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 400.50 237.10 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 425.80 237.10 Td (\(46,501) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 450.50 237.10 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 461.50 237.10 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 483.50 237.10 Td (130,663) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 520.50 237.10 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 525.50 237.10 Td (5,381,725) Tj ET Q BT /F1 11.50 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 195.55 Td (\(a\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 195.55 Td (Primarily represents shares of common stock withheld from certain stock awards for tax purposes.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 177.55 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 159.55 Td (The accompanying notes are an integral part of the financial statements.) 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599.77 Td (661,930) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 514.50 599.77 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 529.00 599.77 Td (740,530) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 52.50 570.72 Td (OPERA) Tj ET Q q 0 0 0 rg BT 87.95 570.72 Td (TING EXPENSES) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 504.50 569.77 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 565.50 569.77 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.50 554.72 Td (Fuel and purchased power) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 468.00 553.77 Td (188,521) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 529.00 553.77 Td (230,588) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.50 538.72 Td (Operations and maintenance) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 468.00 537.77 Td (218,265) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 529.00 537.77 Td (240,375) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.50 522.72 Td (Depreciation and amortization) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 468.00 521.77 Td (154,058) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 529.00 521.77 Td (148,685) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.50 506.72 Td (T) Tj ET Q q 0 0 0 rg BT 64.83 506.72 Td (axes other than income taxes) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 473.50 505.77 Td (56,758) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 534.50 505.77 Td (55,078) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.50 490.72 Td (Other expenses) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 487.30 489.77 Td (822) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 548.30 489.77 Td (427) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 70.50 474.72 Td (T) Tj ET Q q 0 0 0 rg BT 76.83 474.72 Td (otal) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 468.00 473.77 Td (618,424) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 529.00 473.77 Td (675,153) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 52.50 458.72 Td (OPERA) Tj ET Q q 0 0 0 rg BT 87.95 458.72 Td (TING INCOME) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 473.50 457.77 Td (43,506) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 534.50 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540.00 393.77 Td (6,416) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.50 378.72 Td (Other expense \(Note 9\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 475.35 377.77 Td (\(4,668) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 503.80 377.77 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 536.35 377.82 Td (\(3,878) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 564.80 377.77 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 70.50 362.72 Td (T) Tj ET Q q 0 0 0 rg BT 76.83 362.72 Td (otal) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 473.50 361.77 Td (28,924) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 534.50 361.77 Td (19,225) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 52.50 346.72 Td (INTEREST) Tj ET Q q 0 0 0 rg BT 104.34 346.72 Td ( EXPENSE) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 504.50 345.77 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 565.50 345.77 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.50 330.72 Td (Interest char) Tj ET Q q 0 0 0 rg BT 113.06 330.72 Td (ges) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 473.50 329.77 Td (55,736) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 534.50 329.77 Td (56,665) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.50 314.72 Td (Allowance for borrowed funds used during construction) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 475.35 313.77 Td (\(4,076) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 503.80 313.77 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 536.35 313.82 Td (\(6,665) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 564.80 313.77 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 70.50 298.72 Td (T) Tj ET Q q 0 0 0 rg BT 76.45 298.72 Td (otal) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 473.50 297.77 Td (51,660) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 534.50 297.77 Td (50,000) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 52.50 282.72 Td (INCOME BEFORE INCOME ) Tj ET Q q 0 0 0 rg BT 189.60 282.72 Td (T) Tj ET Q q 0 0 0 rg BT 195.78 282.72 Td (AXES) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 473.50 281.77 Td (20,770) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 534.50 281.77 Td (34,602) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 52.50 266.72 Td (INCOME ) Tj ET Q q 0 0 0 rg BT 98.54 266.72 Td (T) Tj ET Q q 0 0 0 rg BT 104.72 266.72 Td (AXES) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 469.85 265.77 Td (\(19,448) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 503.80 265.77 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 540.00 265.77 Td (1,453) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 52.50 250.72 Td (NET) Tj ET Q q 0 0 0 rg BT 73.68 250.72 Td ( INCOME) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 473.50 249.77 Td (40,218) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 534.50 249.77 Td (33,149) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.50 224.77 Td (Less: Net income attributable to noncontrolling interests \(Note 6\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 479.00 224.77 Td (4,873) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 540.00 224.77 Td (4,873) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 52.50 197.77 Td (NET) Tj ET Q q 0 0 0 rg BT 73.68 197.77 Td ( INCOME ) Tj 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97.85000000000002 m 489 97.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493 99.85000000000002 m 563 99.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493 97.85000000000002 m 563 97.85000000000002 l s BT /F2 10.50 Tf ET q 0 0 0 rg BT 430.55 670.14 Td (Mar) Tj ET Q q 0 0 0 rg BT 450.28 670.14 Td (ch 31,) Tj ET Q BT /F2 10.50 Tf ET q 0 0 0 rg BT 443.00 659.64 Td (2020) Tj ET Q BT /F2 10.50 Tf ET q 0 0 0 rg BT 496.95 670.14 Td (December) Tj ET Q q 0 0 0 rg BT 542.23 670.14 Td ( 31,) Tj ET Q BT /F2 10.50 Tf ET q 0 0 0 rg BT 517.00 659.64 Td (2019) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 52.50 644.72 Td (ASSETS) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 485.50 644.90 Td () Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 559.50 644.90 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 52.50 620.72 Td (PROPER) Tj ET Q q 0 0 0 rg BT 93.74 620.72 Td (TY) Tj ET Q q 0 0 0 rg BT 107.37 620.72 Td (, PLANT) Tj ET Q q 0 0 0 rg BT 147.50 620.72 Td ( ) Tj ET Q q 0 0 0 rg BT 149.85 620.72 Td (AND EQUIPMENT) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 485.50 620.72 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 559.50 620.72 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.50 606.72 Td (Plant in service and held for future use) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 421.50 606.72 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 435.25 606.72 Td (19,927,522) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 495.50 606.72 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 509.25 606.72 Td (19,832,805) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.50 592.72 Td (Accumulated depreciation and amortization) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 437.10 592.72 Td (\(6,781,228) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 484.80 592.72 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 511.10 592.72 Td (\(6,634,597) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 558.80 592.72 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 70.50 578.72 Td (Net) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 435.25 578.72 Td (13,146,294) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 509.25 578.72 Td (13,198,208) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.50 554.72 Td (Construction work in progress) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 449.00 554.72 Td (942,258) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 523.00 554.72 Td (808,133) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.50 540.72 Td (Palo ) Tj ET Q q 0 0 0 rg BT 80.71 540.72 Td (V) Tj ET Q q 0 0 0 rg BT 87.94 540.72 Td (erde sale leaseback, net of accumulated depreciation \(Note 6\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 449.00 540.72 Td (100,938) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 523.00 540.72 Td (101,906) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.50 526.72 Td (Intangible assets, net of accumulated amortization) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 449.00 526.72 Td (279,082) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 523.00 526.72 Td (290,409) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.50 512.72 Td (Nuclear fuel, net of 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11.00 Tf ET q 0 0 0 rg BT 485.50 391.72 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 559.50 391.72 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.50 377.72 Td (Cash and cash equivalents) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 454.55 377.72 Td (53,351) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 528.55 377.72 Td (10,169) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.50 363.72 Td (Customer and other receivables) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 449.00 363.72 Td (258,457) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 523.00 363.72 Td (255,479) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.50 349.72 Td (Accrued unbilled revenues) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 454.55 349.72 Td (93,434) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 523.00 349.72 Td (128,165) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.50 335.72 Td (Allowance for doubtful accounts) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 456.35 335.72 Td (\(8,366) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 484.80 335.72 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 530.35 335.72 Td (\(8,171) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 558.80 335.72 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.50 321.72 Td (Materials and supplies \(at average cost\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 449.00 321.72 Td (323,545) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 523.00 321.72 Td (331,091) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.50 307.72 Td (Fossil fuel \(at average cost\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 454.55 307.72 Td (16,930) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 528.55 307.72 Td (14,829) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.50 293.72 Td (Income tax receivable) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 460.05 293.72 Td (8,724) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 534.05 293.72 Td (7,313) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.50 279.72 Td (Assets from risk management activities \(Note 7\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 460.05 279.72 Td (2,108) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 542.30 279.72 Td (515) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.50 265.72 Td (Deferred fuel and purchased power regulatory asset \(Note 4\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 454.55 265.72 Td (77,730) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 528.55 265.72 Td (70,137) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.50 251.72 Td (Other regulatory assets \(Note 4\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 449.00 251.72 Td (147,741) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 523.00 251.72 Td (133,070) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.50 237.72 Td (Other current assets) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 454.55 237.72 Td (57,471) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 528.55 237.72 Td (38,895) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 70.50 223.72 Td (T) Tj ET Q q 0 0 0 rg BT 76.83 223.72 Td (otal current assets) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 440.75 223.72 Td (1,031,125) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 523.00 223.72 Td (981,492) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 52.50 199.72 Td (DEFERRED DEBITS) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 485.50 199.72 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 559.50 199.72 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.50 185.72 Td (Regulatory assets \(Note 4\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 440.75 185.72 Td (1,302,448) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 514.75 185.72 Td (1,304,073) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.50 171.72 Td (Operating lease right-of-use assets) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 449.00 171.72 Td (142,647) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 523.00 171.72 Td (144,024) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.50 157.72 Td (Assets for other postretirement benefits \(Note 5\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 454.55 157.72 Td (92,391) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 528.55 157.72 Td (86,736) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.50 143.72 Td (Other) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 454.55 143.72 Td (31,282) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 528.55 143.72 Td (32,591) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 70.50 129.72 Td (T) Tj ET Q q 0 0 0 rg BT 76.45 129.72 Td (otal deferred debits) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 440.75 129.72 Td (1,568,768) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 514.75 129.72 Td (1,567,424) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 52.50 102.72 Td (T) Tj ET Q q 0 0 0 rg BT 59.02 102.72 Td (OT) Tj ET Q q 0 0 0 rg BT 72.80 102.72 Td (AL) Tj ET Q q 0 0 0 rg BT 87.06 102.72 Td ( ) Tj ET Q q 0 0 0 rg BT 89.20 102.72 Td (ASSETS) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 421.50 102.72 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 435.25 102.72 Td (18,454,752) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 495.50 102.72 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 509.25 102.72 Td (18,370,723) Tj ET Q BT /F1 11.50 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 87.35 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 75.35 Td (The 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/GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.00 562.85 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 562.85 70.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 534.85 369.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 419.00 534.85 70.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.00 534.85 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 534.85 70.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 506.85 369.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 419.00 506.85 70.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.00 506.85 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 506.85 70.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 478.85 369.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 419.00 478.85 70.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.00 478.85 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 478.85 70.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 450.85 369.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 419.00 450.85 70.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.00 450.85 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 450.85 70.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 422.85 369.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 419.00 422.85 70.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.00 422.85 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 422.85 70.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 394.85 369.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 419.00 394.85 70.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.00 394.85 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 394.85 70.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 366.85 369.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 419.00 366.85 70.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.00 366.85 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 366.85 70.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 338.85 369.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 419.00 338.85 70.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.00 338.85 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 338.85 70.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 310.85 369.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 419.00 310.85 70.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.00 310.85 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 310.85 70.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 282.85 369.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 419.00 282.85 70.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.00 282.85 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 282.85 70.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 254.85 369.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 419.00 254.85 70.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.00 254.85 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 254.85 70.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 226.85 369.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 419.00 226.85 70.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.00 226.85 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 226.85 70.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 198.85 369.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 419.00 198.85 70.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.00 198.85 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 198.85 70.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 170.85 369.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 419.00 170.85 70.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.00 170.85 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 170.85 70.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 142.85 369.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 419.00 142.85 70.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.00 142.85 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 142.85 70.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 114.85 369.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 419.00 114.85 70.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.00 114.85 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 114.85 70.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 419 666.85 m 489 666.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493 666.85 m 563 666.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 419 576.85 m 489 576.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493 576.85 m 563 576.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 419 548.85 m 489 548.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493 548.85 m 563 548.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 419 520.85 m 489 520.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493 520.85 m 563 520.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 419 506.85 m 489 506.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493 506.85 m 563 506.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 419 324.85 m 489 324.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493 324.85 m 563 324.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 419 310.85 m 489 310.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493 310.85 m 563 310.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 419 142.85000000000002 m 489 142.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 419 128.85000000000002 m 489 128.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493 142.85000000000002 m 563 142.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493 128.85000000000002 m 563 128.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 419 101.85000000000002 m 489 101.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 419 99.85000000000002 m 489 99.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493 101.85000000000002 m 563 101.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493 99.85000000000002 m 563 99.85000000000002 l s BT /F2 10.50 Tf ET q 0 0 0 rg BT 430.55 682.14 Td (Mar) Tj ET Q q 0 0 0 rg BT 450.28 682.14 Td (ch 31,) Tj ET Q BT /F2 10.50 Tf ET q 0 0 0 rg BT 443.00 671.64 Td (2020) Tj ET Q BT /F2 10.50 Tf ET q 0 0 0 rg BT 496.95 682.14 Td (December) Tj ET Q q 0 0 0 rg BT 542.23 682.14 Td ( 31,) Tj ET Q BT /F2 10.50 Tf ET q 0 0 0 rg BT 517.00 671.64 Td (2019) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 52.50 656.72 Td (LIABILITIES ) Tj ET Q q 0 0 0 rg BT 117.87 656.72 Td (AND EQUITY) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 485.50 656.90 Td () Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 559.50 656.90 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 52.50 638.72 Td (CAPIT) Tj ET Q q 0 0 0 rg BT 83.84 638.72 Td (ALIZA) Tj ET Q q 0 0 0 rg BT 115.78 638.72 Td (TION) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 485.50 638.72 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 559.50 638.72 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.50 624.72 Td (Common stock) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 421.50 624.72 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 449.00 624.72 Td (178,162) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 495.50 624.72 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 523.00 624.72 Td (178,162) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.50 610.72 Td (Additional paid-in capital) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 440.75 610.72 Td (2,721,696) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 514.75 610.72 Td (2,721,696) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.50 596.72 Td (Retained earnings) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 440.75 596.72 Td (3,047,269) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 514.75 596.72 Td (3,01) Tj ET Q q 0 0 0 rg BT 534.00 596.72 Td (1,927) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.50 582.72 Td (Accumulated other comprehensive loss) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 450.85 582.72 Td (\(34,197) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 484.80 582.72 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 524.85 582.72 Td (\(35,522) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 558.80 582.72 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.50 566.72 Td (T) Tj ET Q q 0 0 0 rg BT 64.83 566.72 Td (otal shareholder equity) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 440.75 566.72 Td (5,912,930) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 514.75 566.72 Td (5,876,263) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.50 552.72 Td (Noncontrolling interests \(Note 6\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 449.00 552.72 Td (127,414) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 523.00 552.72 Td (122,540) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 70.50 538.72 Td (T) Tj ET Q q 0 0 0 rg BT 76.83 538.72 Td (otal equity) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 440.75 538.72 Td (6,040,344) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 514.75 538.72 Td (5,998,803) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.50 524.72 Td (Long-term debt less current maturities \(Note 3\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 440.75 524.72 Td (4,833,743) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 514.75 524.72 Td (4,833,133) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 70.50 510.72 Td (T) Tj ET Q q 0 0 0 rg BT 76.83 510.72 Td (otal capitalization) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 435.25 510.72 Td (10,874,087) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 509.25 510.72 Td (10,831,936) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 52.50 496.72 Td (CURRENT) Tj ET Q q 0 0 0 rg BT 103.64 496.72 Td ( LIABILITIES) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 485.50 496.72 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 559.50 496.72 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.50 482.72 Td (Short-term borrowings \(Note 3\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 449.00 482.72 Td (430,000) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 547.80 482.72 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.50 468.72 Td (Current maturities of long-term debt \(Note 3\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 449.00 468.72 Td (200,000) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 523.00 468.72 Td (350,000) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.50 454.72 Td (Accounts payable) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 449.00 454.72 Td (294,037) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 523.00 454.72 Td (338,006) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.50 440.72 Td (Accrued taxes) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 449.00 440.72 Td (190,571) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 523.00 440.72 Td (136,328) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.50 426.72 Td (Accrued interest) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 454.55 426.72 Td (51,042) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 528.55 426.72 Td (52,619) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.50 412.72 Td (Common dividends payable) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 473.80 412.72 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 528.55 412.72 Td (88,000) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.50 398.72 Td (Customer deposits) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 454.55 398.72 Td (54,965) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 528.55 398.72 Td (64,908) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.50 384.72 Td (Liabilities from risk management activities \(Note 7\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 454.55 384.72 Td (54,784) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 528.55 384.72 Td (38,946) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.50 370.72 Td (Liabilities for asset retirements) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 454.55 370.72 Td (10,095) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 528.55 370.72 Td (1) Tj ET Q q 0 0 0 rg BT 534.05 370.72 Td (1,025) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.50 356.72 Td (Operating lease liabilities) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 454.55 356.72 Td (12,224) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 528.55 356.72 Td (12,549) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.50 342.72 Td (Regulatory liabilities \(Note 4\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 449.00 342.72 Td (279,105) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 523.00 342.72 Td (234,912) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.50 328.72 Td (Other current liabilities) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 449.00 328.72 Td (133,497) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 523.00 328.72 Td (164,736) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 70.50 314.72 Td (T) Tj ET Q q 0 0 0 rg BT 76.83 314.72 Td (otal current liabilities) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 440.75 314.72 Td (1,710,320) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 514.75 314.72 Td (1,492,029) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 52.50 300.72 Td (DEFERRED CREDITS ) Tj ET Q q 0 0 0 rg BT 160.37 300.72 Td (AND OTHER) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 485.50 300.72 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 559.50 300.72 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.50 286.72 Td (Deferred income taxes) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 440.75 286.72 Td (2,057,824) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 514.75 286.72 Td (2,033,096) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.50 272.72 Td (Regulatory liabilities \(Note 4\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 440.75 272.72 Td (2,067,801) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 514.75 272.72 Td (2,267,835) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.50 258.72 Td (Liabilities for asset retirements) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 449.00 258.72 Td (649,226) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 523.00 258.72 Td (646,193) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.50 244.72 Td (Liabilities for pension benefits \(Note 5\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 449.00 244.72 Td (255,749) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 523.00 244.72 Td (262,243) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.50 230.72 Td (Liabilities from risk management activities \(Note 7\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 454.55 230.72 Td (32,577) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 528.55 230.72 Td (33,186) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.50 216.72 Td (Customer advances) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 449.00 216.72 Td (212,545) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 523.00 216.72 Td (215,330) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.50 202.72 Td (Coal mine reclamation) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 449.00 202.72 Td (166,796) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 523.00 202.72 Td (165,695) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.50 188.72 Td (Deferred investment tax credit) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 449.00 188.72 Td (196,002) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 523.00 188.72 Td (196,468) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.50 174.72 Td (Unrecognized tax benefits) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 454.55 174.72 Td (40,399) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 528.55 174.72 Td (40,188) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.50 160.72 Td (Operating lease liabilities) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 454.55 160.72 Td (49,442) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 528.55 160.72 Td (50,092) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 58.50 146.72 Td (Other) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 449.00 146.72 Td (141,984) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 523.00 146.72 Td (136,432) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 70.50 132.72 Td (T) Tj ET Q q 0 0 0 rg BT 76.45 132.72 Td (otal deferred credits and other) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 440.75 132.72 Td (5,870,345) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 514.75 132.72 Td (6,046,758) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 52.50 118.72 Td (COMMITMENTS ) Tj ET Q q 0 0 0 rg BT 137.45 118.72 Td (AND CONTINGENCIES \(SEE NOTE 8\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 52.50 104.72 Td (T) Tj ET Q q 0 0 0 rg BT 59.02 104.72 Td (OT) Tj ET Q q 0 0 0 rg BT 72.80 104.72 Td (AL) Tj ET Q q 0 0 0 rg BT 87.06 104.72 Td ( LIABILITIES ) Tj ET Q q 0 0 0 rg BT 154.88 104.72 Td (AND EQUITY) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 421.50 104.72 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 435.25 104.72 Td (18,454,752) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 495.50 104.72 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 509.25 104.72 Td (18,370,723) Tj ET Q BT /F1 11.50 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 77.35 Td (The accompanying notes are an integral part of the financial statements.) 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0 0 rg BT 494.50 636.97 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.65 636.97 Td (33,149) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.50 623.97 Td (Adjustments to reconcile net income to net cash provided by operating activities:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.50 623.97 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.50 623.97 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.50 610.97 Td (Depreciation and amortization including nuclear fuel) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.65 610.97 Td (173,147) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 610.97 Td (167,779) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.50 597.97 Td (Deferred fuel and purchased power) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.30 598.02 Td (\(5,785) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.15 597.97 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.65 597.97 Td (16,709) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.50 584.97 Td (Deferred fuel and purchased power 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(Accounts payable) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.30 456.02 Td (\(4,038) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.15 455.97 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.65 455.97 Td (30,774) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.50 442.97 Td (Accrued taxes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 442.97 Td (54,243) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.65 442.97 Td (54,234) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.50 429.97 Td (Other current liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.30 430.02 Td (\(49,149) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.15 429.97 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.30 430.02 Td (\(81,627) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 429.97 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.50 416.97 Td (Change in other long-term assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 416.97 Td (82,178) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.30 417.02 Td (\(64,516) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 416.97 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.50 403.97 Td (Change in other long-term liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.30 404.02 Td (\(105,1) Tj ET Q q 0 0 0 rg BT 474.13 404.02 Td (17) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.15 403.97 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.65 403.97 Td (14,525) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.50 390.97 Td (Net cash flow provided by operating activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.65 390.97 Td (193,591) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 390.97 Td (188,132) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 377.97 Td (CASH FLOWS FROM INVESTING ) Tj ET Q q 0 0 0 rg BT 203.46 377.97 Td (ACTIVITIES) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.50 377.97 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.50 377.97 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.50 364.97 Td (Capital expenditures) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.30 365.02 Td (\(340,014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.15 364.97 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 522.30 365.02 Td (\(259,446) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 364.97 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.50 351.97 Td (Contributions in aid of construction) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.65 351.97 Td (3,152) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 351.97 Td (7,938) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.50 338.97 Td (Allowance for borrowed funds used during construction) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.30 339.02 Td (\(4,076) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.15 338.97 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.30 339.02 Td (\(6,665) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 338.97 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.50 325.97 Td (Proceeds from nuclear decommissioning trust sales and other special use funds) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.65 325.97 Td (195,087) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 325.97 Td (179,048) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.50 312.97 Td (Investment in nuclear decommissioning trust and other special use funds) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.30 313.02 Td (\(195,658) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.15 312.97 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 522.30 313.02 Td (\(179,618) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 312.97 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.50 299.97 Td (Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 465.80 300.02 Td (\(900) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.15 299.97 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.30 300.02 Td (\(1,140) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 299.97 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.50 286.97 Td (Net cash flow used for investing activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.30 287.02 Td (\(342,409) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.15 286.97 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 522.30 287.02 Td (\(259,883) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 286.97 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 273.97 Td (CASH FLOWS FROM FINANCING ) Tj ET Q q 0 0 0 rg BT 205.14 273.97 Td (ACTIVITIES) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.50 273.97 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.50 273.97 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.50 260.97 Td (Issuance of long-term debt) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.15 260.97 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 260.97 Td (497,324) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.50 247.97 Td (Short-term borrowings and payments net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.15 247.97 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 247.97 Td (157,500) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.50 234.97 Td (Short-term debt borrowings under revolving credit facility) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.65 234.97 Td (540,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.15 234.97 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.50 221.97 Td (Short-term debt repayments under revolving credit facility) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.30 222.02 Td (\(1) Tj ET Q q 0 0 0 rg BT 456.63 222.02 Td (10,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.15 221.97 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.15 221.97 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.50 208.97 Td (Repayment of long-term debt) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.30 209.02 Td (\(150,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.15 208.97 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 522.30 209.02 Td (\(500,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 208.97 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 57.50 195.97 Td (Dividends paid on common stock) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.30 196.02 Td (\(88,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.15 195.97 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.30 196.02 Td (\(82,700) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 195.97 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.50 182.97 Td (Net cash flow provided by financing activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.65 182.97 Td (192,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.65 182.97 Td (72,124) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 169.97 Td (NET) Tj ET Q q 0 0 0 rg BT 70.85 169.97 Td ( INCREASE IN CASH ) Tj ET Q q 0 0 0 rg BT 166.60 169.97 Td (AND CASH EQUIV) Tj ET Q q 0 0 0 rg BT 250.12 169.97 Td (ALENTS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 169.97 Td (43,182) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.15 169.97 Td (373) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 156.97 Td (CASH ) Tj ET Q q 0 0 0 rg BT 80.40 156.97 Td (AND CASH EQUIV) Tj ET Q q 0 0 0 rg BT 163.92 156.97 Td (ALENTS ) Tj ET Q q 0 0 0 rg BT 203.83 156.97 Td (A) Tj ET Q q 0 0 0 rg BT 210.22 156.97 Td (T) Tj ET Q q 0 0 0 rg BT 215.69 156.97 Td ( BEGINNING OF PERIOD) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 156.97 Td (10,169) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 156.97 Td (5,707) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 143.97 Td (CASH ) Tj ET Q q 0 0 0 rg BT 80.12 143.97 Td (AND CASH EQUIV) Tj ET Q q 0 0 0 rg BT 163.28 143.97 Td (ALENTS ) Tj ET Q q 0 0 0 rg BT 203.56 143.97 Td (A) Tj ET Q q 0 0 0 rg BT 209.67 143.97 Td (T) Tj ET Q q 0 0 0 rg BT 215.60 143.97 Td ( END OF PERIOD) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.50 143.97 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 143.97 Td (53,351) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.50 143.97 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 143.97 Td (6,080) Tj ET Q BT /F1 11.50 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 116.90 Td (The accompanying notes are an integral part of the financial statements.) Tj ET Q endstream endobj 37 0 obj <> endobj 38 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 32.55 Td (16) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 198.35 729.95 Td (ARIZONA) Tj ET Q q 0 0 0 rg BT 252.03 729.95 Td ( PUBLIC SER) Tj ET Q q 0 0 0 rg BT 323.20 729.95 Td (VICE COMP) Tj ET Q q 0 0 0 rg BT 389.10 729.95 Td (ANY) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 111.50 716.15 Td (CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 255.38 716.15 Td (TED ST) Tj ET Q q 0 0 0 rg BT 295.12 716.15 Td (A) Tj ET Q q 0 0 0 rg BT 302.57 716.15 Td (TEMENTS OF) Tj ET Q q 0 0 0 rg BT 377.22 716.15 Td ( CHANGES IN EQUITY) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 279.45 702.35 Td (\(unaudited\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 256.15 688.55 Td (\(dollars in thousands\)) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.00 590.05 117.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 166.00 590.05 51.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 217.00 590.05 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 221.00 590.05 44.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 265.00 590.05 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 269.00 590.05 47.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 316.00 590.05 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 320.00 590.05 48.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 368.00 590.05 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 372.00 590.05 68.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 440.00 590.05 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 444.00 590.05 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.00 590.05 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.00 590.05 49.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.00 562.05 117.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 166.00 562.05 51.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 217.00 562.05 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 221.00 562.05 44.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 265.00 562.05 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 269.00 562.05 47.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 316.00 562.05 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 320.00 562.05 48.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 368.00 562.05 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 372.00 562.05 68.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 440.00 562.05 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 444.00 562.05 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.00 562.05 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.00 562.05 49.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.00 534.05 117.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 166.00 534.05 51.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 217.00 534.05 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 221.00 534.05 44.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 265.00 534.05 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 269.00 534.05 47.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 316.00 534.05 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 320.00 534.05 48.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 368.00 534.05 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 372.00 534.05 68.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 440.00 534.05 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 444.00 534.05 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.00 534.05 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.00 534.05 49.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 166 648.05 m 217 648.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 217 648.05 m 221 648.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 221 648.05 m 265 648.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 265 648.05 m 269 648.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269 648.05 m 316 648.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 316 648.05 m 320 648.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 320 648.05 m 368 648.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 368 648.05 m 372 648.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 372 648.05 m 440 648.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 440 648.05 m 444 648.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 444 648.05 m 509 648.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509 648.05 m 513 648.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513 648.05 m 562 648.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 166 611.05 m 217 611.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 217 611.05 m 221 611.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 221 611.05 m 265 611.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269 611.05 m 316 611.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 320 611.05 m 368 611.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 372 611.05 m 440 611.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 444 611.05 m 509 611.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513 611.05 m 562 611.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 166 611.05 m 217 611.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 221 611.05 m 265 611.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 166 590.05 m 217 590.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 221 590.05 m 265 590.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269 590.05 m 316 590.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 320 590.05 m 368 590.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 372 590.05 m 440 590.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 444 590.05 m 509 590.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513 590.05 m 562 590.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 166 534.05 m 217 534.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 217 534.05 m 221 534.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 221 534.05 m 265 534.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 265 534.05 m 269 534.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269 534.05 m 316 534.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 316 534.05 m 320 534.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 320 534.05 m 368 534.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 368 534.05 m 372 534.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 372 534.05 m 440 534.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 440 534.05 m 444 534.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 444 534.05 m 509 534.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509 534.05 m 513 534.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513 534.05 m 562 534.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 166 521.05 m 217 521.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 166 519.05 m 217 519.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 217 521.05 m 221 521.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 217 519.05 m 221 519.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 221 521.05 m 265 521.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 221 519.05 m 265 519.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 265 521.05 m 269 521.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 265 519.05 m 269 519.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269 521.05 m 316 521.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269 519.05 m 316 519.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 316 521.05 m 320 521.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 316 519.05 m 320 519.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 320 521.05 m 368 521.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 320 519.05 m 368 519.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 368 521.05 m 372 521.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 368 519.05 m 372 519.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 372 521.05 m 440 521.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 372 519.05 m 440 519.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 440 521.05 m 444 521.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 440 519.05 m 444 519.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 444 521.05 m 509 521.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 444 519.05 m 509 519.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509 521.05 m 513 521.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509 519.05 m 513 519.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513 521.05 m 562 521.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513 519.05 m 562 519.05 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.20 652.72 Td (Three Months Ended March 31, 2020) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 189.95 615.30 Td (Common Stock) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 274.85 631.30 Td (Additional) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 280.20 623.30 Td (Paid-In) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 280.40 615.30 Td (Capital) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 329.25 623.30 Td (Retained) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 329.25 615.30 Td (Earnings) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 384.15 639.30 Td (Accumulated) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 396.35 631.30 Td (Other) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 380.35 623.30 Td (Comprehensive) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 382.25 615.30 Td (Income \(Loss\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 451.55 623.30 Td (Noncontrolling) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 462.40 615.30 Td (Interests) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 528.80 615.30 Td (T) Tj ET Q q 0 0 0 rg BT 533.13 615.30 Td (otal) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 179.00 594.51 Td (Shares) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 227.70 594.51 Td (Amount) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 51.50 580.51 Td (Balance, January 1, 2020) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 177.75 580.30 Td (71,264,947) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 223.50 580.30 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 235.75 580.30 Td (178,162) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 271.50 580.30 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 280.50 580.30 Td (2,721,696) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 322.50 580.30 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 332.50 580.30 Td (3,01) Tj ET Q q 0 0 0 rg BT 346.50 580.30 Td (1,927) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 374.50 580.30 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 411.80 580.30 Td (\(35,522) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 436.50 580.30 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 446.50 580.30 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 479.50 580.30 Td (122,540) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 515.50 580.30 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 526.50 580.30 Td (5,998,803) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 51.50 566.51 Td (Net Income) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 253.80 566.30 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 304.50 566.30 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 342.50 566.30 Td (35,345) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 428.50 566.30 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 487.50 566.30 Td (4,873) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.50 566.30 Td (40,218) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 51.50 552.51 Td (Other comprehensive income) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 253.80 552.30 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 304.50 552.30 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 356.50 552.30 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 418.50 552.30 Td (1,325) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 497.50 552.30 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.50 552.30 Td (1,325) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 51.50 538.51 Td (Other) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 253.80 538.30 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 304.50 538.30 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 357.80 538.30 Td (\(3) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 364.50 538.30 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 428.50 538.30 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 501.50 538.30 Td (1) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 551.80 538.30 Td (\(2) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.50 538.30 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 51.50 524.51 Td (Balance, March 31, 2020) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 177.75 524.30 Td (71,264,947) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 223.50 524.30 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 235.75 524.30 Td (178,162) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 271.50 524.30 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 280.50 524.30 Td (2,721,696) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 322.50 524.30 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 332.50 524.30 Td (3,047,269) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 374.50 524.30 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 411.80 524.30 Td (\(34,197) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 436.50 524.30 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 446.50 524.30 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 479.50 524.30 Td (127,414) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 515.50 524.30 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 526.50 524.30 Td (6,040,344) Tj ET Q BT /F1 11.50 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 409.25 118.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 168.00 409.25 51.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 219.00 409.25 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 223.00 409.25 44.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 267.00 409.25 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 271.00 409.25 48.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 319.00 409.25 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 323.00 409.25 48.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 371.00 409.25 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 375.00 409.25 66.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 441.00 409.25 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 445.00 409.25 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 510.00 409.25 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 514.00 409.25 49.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 381.25 118.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 168.00 381.25 51.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 219.00 381.25 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 223.00 381.25 44.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 267.00 381.25 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 271.00 381.25 48.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 319.00 381.25 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 323.00 381.25 48.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 371.00 381.25 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 375.00 381.25 66.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 441.00 381.25 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 445.00 381.25 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 510.00 381.25 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 514.00 381.25 49.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 168 466.25 m 219 466.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 219 466.25 m 223 466.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 223 466.25 m 267 466.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 267 466.25 m 271 466.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 271 466.25 m 319 466.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 319 466.25 m 323 466.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 323 466.25 m 371 466.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 371 466.25 m 375 466.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 375 466.25 m 441 466.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 441 466.25 m 445 466.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 445 466.25 m 510 466.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 510 466.25 m 514 466.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 514 466.25 m 563 466.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 168 423.25 m 219 423.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 219 423.25 m 223 423.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 223 423.25 m 267 423.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 271 423.25 m 319 423.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 323 423.25 m 371 423.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 375 423.25 m 441 423.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 445 423.25 m 510 423.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 514 423.25 m 563 423.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 168 423.25 m 219 423.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 168 409.25 m 219 409.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 223 423.25 m 267 423.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 223 409.25 m 267 409.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 271 409.25 m 319 409.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 323 409.25 m 371 409.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 375 409.25 m 441 409.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 445 409.25 m 510 409.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 514 409.25 m 563 409.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 168 409.25 m 219 409.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 223 409.25 m 267 409.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 271 409.25 m 319 409.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 323 409.25 m 371 409.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 375 409.25 m 441 409.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 445 409.25 m 510 409.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 514 409.25 m 563 409.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 168 367.25 m 219 367.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 219 367.25 m 223 367.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 223 367.25 m 267 367.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 267 367.25 m 271 367.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 271 367.25 m 319 367.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 319 367.25 m 323 367.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 323 367.25 m 371 367.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 371 367.25 m 375 367.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 375 367.25 m 441 367.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 441 367.25 m 445 367.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 445 367.25 m 510 367.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 510 367.25 m 514 367.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 514 367.25 m 563 367.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 168 354.25 m 219 354.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 168 352.25 m 219 352.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 219 354.25 m 223 354.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 219 352.25 m 223 352.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 223 354.25 m 267 354.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 223 352.25 m 267 352.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 267 354.25 m 271 354.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 267 352.25 m 271 352.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 271 354.25 m 319 354.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 271 352.25 m 319 352.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 319 354.25 m 323 354.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 319 352.25 m 323 352.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 323 354.25 m 371 354.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 323 352.25 m 371 352.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 371 354.25 m 375 354.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 371 352.25 m 375 352.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 375 354.25 m 441 354.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 375 352.25 m 441 352.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 441 354.25 m 445 354.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 441 352.25 m 445 352.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 445 354.25 m 510 354.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 445 352.25 m 510 352.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 510 354.25 m 514 354.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 510 352.25 m 514 352.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 514 354.25 m 563 354.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 514 352.25 m 563 352.25 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.70 470.92 Td (Three Months Ended March 31, 2019) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 191.95 427.50 Td (Common Stock) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 277.35 443.50 Td (Additional) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 282.70 435.50 Td (Paid-In) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 282.90 427.50 Td (Capital) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 332.25 435.50 Td (Retained) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 332.25 427.50 Td (Earnings) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 386.15 451.50 Td (Accumulated) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 398.35 443.50 Td (Other) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 382.35 435.50 Td (Comprehensive) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 384.25 427.50 Td (Income \(Loss\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 452.55 435.50 Td (Noncontrolling) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 463.40 427.50 Td (Interests) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 529.80 427.50 Td (T) Tj ET Q q 0 0 0 rg BT 534.13 427.50 Td (otal) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 181.00 413.71 Td (Shares) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 229.70 413.71 Td (Amount) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 399.71 Td (Balance, January 1, 2019) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 179.75 399.50 Td (71,264,947) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 225.50 399.50 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 237.75 399.50 Td (178,162) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 273.50 399.50 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 283.50 399.50 Td (2,721,696) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 325.50 399.50 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 335.50 399.50 Td (2,788,256) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 377.50 399.50 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 412.80 399.50 Td (\(27,107) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 437.50 399.50 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 447.50 399.50 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 480.50 399.50 Td (125,790) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 516.50 399.50 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 527.50 399.50 Td (5,786,797) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 385.71 Td (Net Income) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 255.80 385.50 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 307.50 385.50 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 345.50 385.50 Td (28,276) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 429.50 385.50 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 488.50 385.50 Td (4,873) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 537.50 385.50 Td (33,149) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 371.71 Td (Other comprehensive income) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 255.80 371.50 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 307.50 371.50 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 359.50 371.50 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 419.50 371.50 Td (1,080) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 498.50 371.50 Td () Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 541.50 371.50 Td (1,080) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 357.71 Td (Balance, March 31, 2019) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 179.75 357.50 Td (71,264,947) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 225.50 357.50 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 237.75 357.50 Td (178,162) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 273.50 357.50 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 283.50 357.50 Td (2,721,696) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 325.50 357.50 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 335.50 357.50 Td (2,816,532) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 377.50 357.50 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 412.80 357.50 Td (\(26,027) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 437.50 357.50 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 447.50 357.50 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 480.50 357.50 Td (130,663) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 516.50 357.50 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 527.50 357.50 Td (5,821,026) Tj ET Q BT /F1 11.50 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 315.95 Td (The accompanying notes are an integral part of the financial statements.) Tj ET Q endstream endobj 39 0 obj <> endobj 40 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 32.55 Td (17) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 84.45 743.75 Td (COMBINED NOTES ) Tj ET Q q 0 0 0 rg BT 193.51 743.75 Td (T) Tj ET Q q 0 0 0 rg BT 200.97 743.75 Td (O CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 356.68 743.75 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 447.74 743.75 Td ( ST) Tj ET Q q 0 0 0 rg BT 463.82 743.75 Td (A) Tj ET Q q 0 0 0 rg BT 471.28 743.75 Td (TEMENTS) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 306.00 729.95 Td () Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 716.15 Td (1. ) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 85.50 716.15 Td (Consolidation and Natur) Tj ET Q q 0 0 0 rg BT 207.35 716.15 Td (e of Operations) Tj ET Q BT /F2 3.00 Tf ET q 0 0 0 rg BT 282.73 716.15 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 702.35 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 688.55 Td (The unaudited condensed consolidated financial statements include the accounts of Pinnacle ) Tj ET Q q 0 0 0 rg BT 512.90 688.55 Td (W) Tj ET Q q 0 0 0 rg BT 522.83 688.55 Td (est and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 674.75 Td (our subsidiaries: ) Tj ET Q q 0 0 0 rg BT 130.32 674.75 Td (APS, 4C ) Tj ET Q q 0 0 0 rg BT 172.83 674.75 Td (Acquisition, LLC \("4CA"\), Bright Canyon Ener) Tj ET Q q 0 0 0 rg BT 393.78 674.75 Td (gy Corporation \("BCE"\) and El ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 660.95 Td (Dorado Investment Company \("El Dorado"\). See Note 8 for more information on 4CA) Tj ET Q q 0 0 0 rg BT 450.45 660.95 Td ( matters. Intercompany ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 647.15 Td (accounts and transactions between the consolidated companies have been eliminated. ) Tj ET Q q 0 0 0 rg BT 447.19 647.15 Td (The unaudited condensed ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 633.35 Td (consolidated financial statements for ) Tj ET Q q 0 0 0 rg BT 220.67 633.35 Td (APS include the accounts of ) Tj ET Q q 0 0 0 rg BT 353.23 633.35 Td (APS and the Palo ) Tj ET Q q 0 0 0 rg BT 436.72 633.35 Td (V) Tj ET Q q 0 0 0 rg BT 443.75 633.35 Td (erde Generating Station ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 619.55 Td (\("Palo ) Tj ET Q q 0 0 0 rg BT 81.14 619.55 Td (V) Tj ET Q q 0 0 0 rg BT 88.17 619.55 Td (erde"\) sale leaseback variable interest entities \("VIEs"\) \(see Note 6 for further discussion\). Our ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 605.75 Td (accounting records are maintained in accordance with accounting principles generally accepted in the United ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 591.95 Td (States of ) Tj ET Q q 0 0 0 rg BT 91.67 591.95 Td (America \("GAAP"\). ) Tj ET Q q 0 0 0 rg BT 190.91 591.95 Td (The preparation of financial statements in accordance with GAAP) Tj ET Q q 0 0 0 rg BT 494.49 591.95 Td ( requires ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 578.15 Td (management to make estimates and assumptions that af) Tj ET Q q 0 0 0 rg BT 304.47 578.15 Td (fect the reported amounts of assets and liabilities, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 564.35 Td (disclosure of contingent assets and liabilities at the date of the financial statements and reported amounts of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 550.55 Td (revenues and expenses during the reporting period. ) Tj ET Q q 0 0 0 rg BT 289.34 550.55 Td (Actual results could dif) Tj ET Q q 0 0 0 rg BT 396.76 550.55 Td (fer from those estimates.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 536.75 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 522.95 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 522.95 Td (Amounts reported in our interim Condensed Consolidated Statements of Income are not necessarily ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 509.15 Td (indicative of amounts expected for the respective annual periods, due to the ef) Tj ET Q q 0 0 0 rg BT 408.54 509.15 Td (fects of seasonal temperature ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 495.35 Td (variations on ener) Tj ET Q q 0 0 0 rg BT 131.68 495.35 Td (gy consumption, timing of maintenance on electric generating units \("EGU"\), and other ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 481.55 Td (factors.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 467.75 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 453.95 Td (Our condensed consolidated financial statements reflect all adjustments \(consisting only of normal ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 440.15 Td (recurring adjustments except as otherwise disclosed in the notes\) that we believe are necessary for the fair ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 426.35 Td (presentation of our financial position, results of operations, and cash flows for the periods presented. Certain ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 412.55 Td (information and footnote disclosures normally included in financial statements prepared in conformity with ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 398.75 Td (GAAP) Tj ET Q q 0 0 0 rg BT 80.38 398.75 Td ( have been condensed or omitted pursuant to such regulations, although we believe that the disclosures ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 384.95 Td (provided are adequate to make the interim information presented not misleading. ) Tj ET Q q 0 0 0 rg BT 427.08 384.95 Td (The accompanying condensed ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 371.15 Td (consolidated financial statements and these notes should be read in conjunction with the audited consolidated ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 357.35 Td (financial statements and notes included in our 2019 Form 10-K. ) Tj ET Q endstream endobj 41 0 obj <> endobj 42 0 obj <> stream BT /F2 11.50 Tf ET q 0 0 0 rg BT 84.45 757.95 Td (COMBINED NOTES ) Tj ET Q q 0 0 0 rg BT 193.51 757.95 Td (T) Tj ET Q q 0 0 0 rg BT 200.97 757.95 Td (O CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 356.68 757.95 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 447.74 757.95 Td ( ST) Tj ET Q q 0 0 0 rg BT 463.82 757.95 Td (A) Tj ET Q q 0 0 0 rg BT 471.28 757.95 Td (TEMENTS) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 32.55 Td (18) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 698.45 Td (Supplemental Cash Flow Information) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 670.85 Td (The following table summarizes supplemental Pinnacle ) Tj ET Q q 0 0 0 rg BT 307.34 670.85 Td (W) Tj ET Q q 0 0 0 rg BT 317.28 670.85 Td (est cash flow information \(dollars in thousands\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 619.35 387.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 437.00 619.35 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 619.35 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 506.00 619.35 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 587.35 387.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 437.00 587.35 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 587.35 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 506.00 587.35 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 555.35 387.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 437.00 555.35 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 555.35 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 506.00 555.35 65.00 -16.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 437 634.35 m 502 634.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 634.35 m 506 634.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506 634.35 m 571 634.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 437 619.35 m 502 619.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506 619.35 m 571 619.35 l s BT /F2 11.00 Tf ET q 0 0 0 rg BT 52.50 639.25 Td () Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 453.45 650.25 Td (Thr) Tj ET Q q 0 0 0 rg BT 471.69 650.25 Td (ee Months Ended) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 479.45 639.25 Td (Mar) Tj ET Q q 0 0 0 rg BT 500.12 639.25 Td (ch 31,) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 52.50 624.25 Td () Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 458.00 624.25 Td (2020) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 527.00 624.25 Td (2019) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 608.38 Td (Cash paid during the period for:) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 58.50 592.38 Td (Income taxes, net of refunds) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 439.50 592.38 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 467.90 592.38 Td (\(3,002) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 497.65 592.38 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 508.50 592.38 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 560.90 592.38 Td (1) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 58.50 576.38 Td (Interest, net of amounts capitalized) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 466.00 576.38 Td (53,723) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 535.00 576.38 Td (63,764) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 560.38 Td (Significant non-cash investing and financing activities:) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 58.50 544.38 Td (Accrued capital expenditures) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 439.50 544.38 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 460.25 544.38 Td (100,868) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 508.50 544.38 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 535.00 544.38 Td (95,879) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 58.50 528.88 Td (Right-of-use operating lease assets obtained in exchange for operating lease) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 58.50 517.43 Td (liabilities) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 471.75 520.38 Td (2,31) Tj ET Q q 0 0 0 rg BT 491.88 520.38 Td (1) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 540.75 520.38 Td (2,293) Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 488.25 Td (The following table summarizes supplemental ) Tj ET Q q 0 0 0 rg BT 264.44 488.25 Td (APS cash flow information \(dollars in thousands\):) Tj ET Q 1 1 1 rg /GS0 gs 49.00 477.75 387.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.00 435.75 387.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 436.00 435.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.00 435.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.00 435.75 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.00 405.75 387.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 436.00 405.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.00 405.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.00 405.75 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.00 375.75 387.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 436.00 375.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.00 375.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.00 375.75 66.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 436 450.75 m 501 450.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 501 450.75 m 505 450.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505 450.75 m 571 450.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 436 450.75 m 501 450.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 436 435.75 m 501 435.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 501 450.75 m 505 450.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505 450.75 m 571 450.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505 435.75 m 571 435.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 436 435.75 m 501 435.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505 435.75 m 571 435.75 l s BT /F2 11.00 Tf ET q 0 0 0 rg BT 452.95 466.65 Td (Thr) Tj ET Q q 0 0 0 rg BT 471.19 466.65 Td (ee Months Ended) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 478.95 455.65 Td (Mar) Tj ET Q q 0 0 0 rg BT 499.62 455.65 Td (ch 31,) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 51.50 440.46 Td () Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 457.00 440.65 Td (2020) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 526.50 440.65 Td (2019) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 51.50 425.28 Td (Cash paid during the period for:) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 57.50 410.28 Td (Income taxes, net of refunds) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 438.50 410.28 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 485.15 410.28 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 507.50 410.28 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 555.15 410.28 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 57.50 395.28 Td (Interest, net of amounts capitalized) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 465.00 395.28 Td (52,034) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 535.00 395.28 Td (61,387) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 51.50 380.28 Td (Significant non-cash investing and financing activities:) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 57.50 365.28 Td (Accrued capital expenditures) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 438.50 365.28 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 459.25 365.28 Td (100,868) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 507.50 365.28 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 535.00 365.28 Td (95,879) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 57.50 350.28 Td (Right-of-use operating lease assets obtained in exchange for operating lease) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 57.50 338.83 Td (liabilities) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 470.75 341.78 Td (2,31) Tj ET Q q 0 0 0 rg BT 490.88 341.78 Td (1) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 540.75 341.78 Td (2,293) Tj ET Q BT /F1 11.50 Tf ET BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 295.85 Td (2. ) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 85.50 295.85 Td (Revenue) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 127.66 295.85 Td ( ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 49.50 268.85 Td (Sour) Tj ET Q q 0 0 0 rg BT 71.92 268.85 Td (ces of Revenue) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 241.25 Td ( ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 85.50 241.25 Td (The following table provides detail of Pinnacle ) Tj ET Q q 0 0 0 rg BT 295.16 241.25 Td (W) Tj ET Q q 0 0 0 rg BT 304.66 241.25 Td (est's consolidated revenue disaggregated by revenue ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 228.05 Td (sources \(dollars in thousands\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 187.55 325.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 375.00 187.55 12.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 387.00 187.55 88.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 475.00 187.55 88.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 156.55 325.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 375.00 156.55 12.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 387.00 156.55 88.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 475.00 156.55 88.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 126.55 325.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 375.00 126.55 12.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 387.00 126.55 88.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 475.00 126.55 88.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 96.55 325.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 375.00 96.55 12.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 387.00 96.55 88.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 475.00 96.55 88.00 -16.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 387 202.54999999999995 m 475 202.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 387 202.54999999999995 m 475 202.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 475 202.54999999999995 m 563 202.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 387 187.54999999999995 m 475 187.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 475 187.54999999999995 m 563 187.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 387 96.54999999999995 m 475 96.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 475 96.54999999999995 m 563 96.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 387 96.54999999999995 m 475 96.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 387 81.54999999999995 m 475 81.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 387 79.54999999999995 m 475 79.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 475 96.54999999999995 m 563 96.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 475 81.54999999999995 m 563 81.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 475 79.54999999999995 m 563 79.54999999999995 l s BT /F2 11.00 Tf ET q 0 0 0 rg BT 399.05 207.45 Td (Thr) Tj ET Q q 0 0 0 rg BT 417.29 207.45 Td (ee Months Ended Mar) Tj ET Q q 0 0 0 rg BT 522.50 207.45 Td (ch 31,) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 419.50 192.45 Td (2020) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 507.50 192.45 Td (2019) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 177.08 Td (Retail Electric Revenue) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 64.50 161.58 Td (Residential) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 389.50 161.58 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 433.25 161.58 Td (325,073) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 477.50 161.58 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 521.25 161.58 Td (351,566) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 64.50 146.08 Td (Non-Residential) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 433.25 146.08 Td (303,351) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 521.25 146.08 Td (332,668) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 131.08 Td (Wholesale ener) Tj ET Q q 0 0 0 rg BT 123.59 131.08 Td (gy sales) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 439.00 131.08 Td (14,668) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 527.00 131.08 Td (36,452) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 116.08 Td (T) Tj ET Q q 0 0 0 rg BT 59.32 116.08 Td (ransmission services for others) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 439.00 116.08 Td (15,927) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 527.00 116.08 Td (15,249) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 101.08 Td (Other sources) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 444.75 101.08 Td (2,91) Tj ET Q q 0 0 0 rg BT 464.88 101.08 Td (1) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 532.75 101.08 Td (4,595) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 52.50 85.56 Td (T) Tj ET Q q 0 0 0 rg BT 59.11 85.56 Td (otal operating r) Tj ET Q q 0 0 0 rg BT 135.56 85.56 Td (evenues) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 389.50 85.58 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 433.25 85.58 Td (661,930) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 477.50 85.58 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 521.25 85.58 Td (740,530) Tj ET Q BT /F1 11.50 Tf ET endstream endobj 43 0 obj <> endobj 44 0 obj <> stream BT /F2 11.50 Tf ET q 0 0 0 rg BT 84.45 757.95 Td (COMBINED NOTES ) Tj ET Q q 0 0 0 rg BT 193.51 757.95 Td (T) Tj ET Q q 0 0 0 rg BT 200.97 757.95 Td (O CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 356.68 757.95 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 447.74 757.95 Td ( ST) Tj ET Q q 0 0 0 rg BT 463.82 757.95 Td (A) Tj ET Q q 0 0 0 rg BT 471.28 757.95 Td (TEMENTS) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 30.55 Td (19) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 728.20 Td ( ) Tj ET Q BT /F4 11.00 Tf ET q 0 0 0 rg BT 85.50 728.20 Td (Retail Electric Revenue. ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 197.92 728.20 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 238.35 728.20 Td (W) Tj ET Q q 0 0 0 rg BT 247.85 728.20 Td (est's retail electric revenue is generated by wholly owned regulated ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 715.00 Td (subsidiary ) Tj ET Q q 0 0 0 rg BT 96.86 715.00 Td (APS's sale of electricity to our regulated customers within the authorized service territory at tarif) Tj ET Q q 0 0 0 rg BT 522.01 715.00 Td (f rates ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 701.80 Td (approved by the ) Tj ET Q q 0 0 0 rg BT 122.51 701.80 Td (ACC and based on customer usage. Revenues related to the sale of electricity are generally ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 688.60 Td (recognized when service is rendered or electricity is delivered to customers. ) Tj ET Q q 0 0 0 rg BT 388.64 688.60 Td (The billing of electricity sales to ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 675.40 Td (individual customers is based on the reading of their meters. ) Tj ET Q q 0 0 0 rg BT 319.96 675.40 Td (W) Tj ET Q q 0 0 0 rg BT 329.46 675.40 Td (e obtain customers' meter data on a systematic basis ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 662.20 Td (throughout the month, and generally bill customers within a month from when service was provided. Customers are ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 649.00 Td (generally required to pay for services within 15 days of when the services are billed.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 622.60 Td ( ) Tj ET Q BT /F4 11.00 Tf ET q 0 0 0 rg BT 85.50 622.60 Td (Wholesale Energy Sales and T) Tj ET Q q 0 0 0 rg BT 223.82 622.60 Td (ransmission Services for Others. ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 373.87 622.60 Td (Revenues from wholesale ener) Tj ET Q q 0 0 0 rg BT 508.98 622.60 Td (gy sales ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 609.40 Td (and transmission services for others represent ener) Tj ET Q q 0 0 0 rg BT 271.67 609.40 Td (gy and transmission sales to wholesale customers. ) Tj ET Q q 0 0 0 rg BT 494.49 609.40 Td (These ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 596.20 Td (activities primarily consist of managing fuel and purchased power risks in connection with the cost of serving our ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 583.00 Td (retail customers' ener) Tj ET Q q 0 0 0 rg BT 142.91 583.00 Td (gy requirements. ) Tj ET Q q 0 0 0 rg BT 219.38 583.00 Td (W) Tj ET Q q 0 0 0 rg BT 228.88 583.00 Td (e may also sell into the wholesale markets generation that is not needed for ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 569.80 Td (APS) Tj ET Q q 0 0 0 rg BT 72.74 569.80 Td (s retail load. Our wholesale activities and tarif) Tj ET Q q 0 0 0 rg BT 275.35 569.80 Td (f rates are regulated by the United States Federal Ener) Tj ET Q q 0 0 0 rg BT 513.08 569.80 Td (gy ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 556.60 Td (Regulatory Commission \("FERC"\).) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 530.20 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 530.20 Td (In the electricity business, some contracts to purchase ener) Tj ET Q q 0 0 0 rg BT 343.40 530.20 Td (gy are settled by netting against other contracts ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 517.00 Td (to sell electricity) Tj ET Q q 0 0 0 rg BT 122.09 517.00 Td (. ) Tj ET Q q 0 0 0 rg BT 127.39 517.00 Td (This is referred to as a book-out, and usually occurs in contracts that have the same terms \(product ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 503.80 Td (type, quantities, and delivery points\) and for which power does not flow) Tj ET Q q 0 0 0 rg BT 366.19 503.80 Td (. ) Tj ET Q q 0 0 0 rg BT 371.49 503.80 Td (W) Tj ET Q q 0 0 0 rg BT 380.99 503.80 Td (e net these book-outs, which reduces ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 490.60 Td (both wholesale revenues and fuel and purchased power costs.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 477.40 Td ( ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 49.50 464.20 Td (Revenue ) Tj ET Q q 0 0 0 rg BT 91.97 464.20 Td (Activities) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 437.80 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 437.80 Td (Our revenues primarily consist of activities that are classified as revenues from contracts with customers. ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 424.60 Td (W) Tj ET Q q 0 0 0 rg BT 59.00 424.60 Td (e derive our revenues from contracts with customers primarily from sales of electricity to our regulated retail ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 411.40 Td (customers. Revenues from contracts with customers also include wholesale and transmission activities. Our ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 398.20 Td (revenues from contracts with customers for the ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 259.35 398.20 Td (three months ended March 31, 2020) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 418.20 398.20 Td ( and ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 439.58 398.20 Td (2019) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 461.58 398.20 Td ( were ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 488.45 398.20 Td ($648) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 510.45 398.20 Td ( million ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 385.00 Td (and ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 68.13 385.00 Td ($721) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 90.13 385.00 Td ( million, respectively) Tj ET Q q 0 0 0 rg BT 182.59 385.00 Td (.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 358.60 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 358.60 Td (W) Tj ET Q q 0 0 0 rg BT 95.00 358.60 Td (e have certain revenues that do not meet the specific accounting criteria to be classified as revenues from ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 345.40 Td (contracts with customers. For the ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 198.58 345.40 Td (three months ended March 31, 2020) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 357.43 345.40 Td ( and ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 378.81 345.40 Td (2019) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 400.81 345.40 Td (, our revenues that do not qualify as ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 332.20 Td (revenue from contracts with customers were ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 247.42 332.20 Td ($14 million) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 298.46 332.20 Td ( and ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 319.84 332.20 Td ($20 million) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 370.87 332.20 Td (, respectively) Tj ET Q q 0 0 0 rg BT 428.80 332.20 Td (. ) Tj ET Q q 0 0 0 rg BT 434.10 332.20 Td (This relates primarily to ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 319.00 Td (certain regulatory cost recovery mechanisms that are considered alternative revenue programs. ) Tj ET Q q 0 0 0 rg BT 468.34 319.00 Td (W) Tj ET Q q 0 0 0 rg BT 477.84 319.00 Td (e recognize ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 305.80 Td (revenue associated with alternative revenue programs when specific events permitting recognition are completed. ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 292.60 Td (Certain amounts associated with alternative revenue programs will subsequently be billed to customers; however) Tj ET Q q 0 0 0 rg BT 546.06 292.60 Td (, ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 279.40 Td (we do not reclassify billed amounts into revenue from contracts with customers. See Note 4 for a discussion of our ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 266.20 Td (regulatory cost recovery mechanisms. ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 49.50 239.80 Td (Contract ) Tj ET Q q 0 0 0 rg BT 93.80 239.80 Td (Assets ) Tj ET Q q 0 0 0 rg BT 125.88 239.80 Td (and ) Tj ET Q q 0 0 0 rg BT 146.36 239.80 Td (Liabilities ) Tj ET Q q 0 0 0 rg BT 196.17 239.80 Td (fr) Tj ET Q q 0 0 0 rg BT 204.52 239.80 Td (om ) Tj ET Q q 0 0 0 rg BT 221.93 239.80 Td (Contracts ) Tj ET Q q 0 0 0 rg BT 271.12 239.80 Td (with ) Tj ET Q q 0 0 0 rg BT 294.65 239.80 Td (Customers) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 213.40 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 213.40 Td (There were no material contract assets, contract liabilities, or deferred contract costs recorded on the ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 200.20 Td (Condensed Consolidated Balance Sheets as of ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 255.40 200.20 Td (March31, 2020) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 325.36 200.20 Td ( or ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 340.02 200.20 Td (December31, 2019) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 426.46 200.20 Td (. ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 49.50 173.80 Td (Allowance ) Tj ET Q q 0 0 0 rg BT 101.13 173.80 Td (for) Tj ET Q q 0 0 0 rg BT 114.98 173.80 Td ( ) Tj ET Q q 0 0 0 rg BT 117.73 173.80 Td (Doubtful ) Tj ET Q q 0 0 0 rg BT 162.05 173.80 Td (Accounts) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 147.40 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 147.40 Td (The allowance for doubtful accounts represents our best estimate of accounts receivable and accrued ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 134.20 Td (unbilled revenues that will ultimately be uncollectible. ) Tj ET Q q 0 0 0 rg BT 291.84 134.20 Td (The allowance is calculated by applying an estimated write-) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 121.00 Td (of) Tj ET Q q 0 0 0 rg BT 58.46 121.00 Td (f factor to retail electric revenues. ) Tj ET Q q 0 0 0 rg BT 209.43 121.00 Td (The write-of) Tj ET Q q 0 0 0 rg BT 264.51 121.00 Td (f factor used to estimate uncollectible accounts is based upon ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 107.80 Td (consideration of historical collections experience, the current and forecasted economic environment, changes to our ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 94.60 Td (collection policies, and management) Tj ET Q q 0 0 0 rg BT 213.22 94.60 Td (s best estimate of future collections success. ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 67.60 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 67.60 Td (During March 2020, due to the Coronavirus \("COVID-19"\) pandemic, and to assist customers who may be ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 54.40 Td (experiencing economic dif) Tj ET Q q 0 0 0 rg BT 166.58 54.40 Td (ficulties, we suspended all service shut-of) Tj ET Q q 0 0 0 rg BT 350.28 54.40 Td (fs due to nonpayment. ) Tj ET Q q 0 0 0 rg BT 450.59 54.40 Td (W) Tj ET Q q 0 0 0 rg BT 460.09 54.40 Td (e are expecting an ) Tj ET Q endstream endobj 45 0 obj <> endobj 46 0 obj <> stream BT /F2 11.50 Tf ET q 0 0 0 rg BT 84.45 757.95 Td (COMBINED NOTES ) Tj ET Q q 0 0 0 rg BT 193.51 757.95 Td (T) Tj ET Q q 0 0 0 rg BT 200.97 757.95 Td (O CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 356.68 757.95 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 447.74 757.95 Td ( ST) Tj ET Q q 0 0 0 rg BT 463.82 757.95 Td (A) Tj ET Q q 0 0 0 rg BT 471.28 757.95 Td (TEMENTS) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 30.55 Td (20) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 741.40 Td (increase in the number of customers needing to utilize longer) Tj ET Q q 0 0 0 rg BT 318.39 741.40 Td (-term payment plans to avoid service disruption. ) Tj ET Q q 0 0 0 rg BT 533.86 741.40 Td (These ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 728.20 Td (changes, among others including the Summer Disconnection Moratorium \(defined in Note 4\), impacted our write-) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 715.00 Td (of) Tj ET Q q 0 0 0 rg BT 58.46 715.00 Td (f factor during the period. ) Tj ET Q q 0 0 0 rg BT 174.33 715.00 Td (W) Tj ET Q q 0 0 0 rg BT 183.84 715.00 Td (e continue to monitor COVID-19 and its impact on our allowance for doubtful ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 701.80 Td (accounts, which may impact our write-of) Tj ET Q q 0 0 0 rg BT 230.13 701.80 Td (f factor for upcoming 2020 financial statements. See Note 4 for additional ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 688.60 Td (details. ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 661.60 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 661.60 Td (The following table provides a rollforward of Pinnacle ) Tj ET Q q 0 0 0 rg BT 328.45 661.60 Td (W) Tj ET Q q 0 0 0 rg BT 337.95 661.60 Td (est) Tj ET Q q 0 0 0 rg BT 353.23 661.60 Td (s allowance for doubtful accounts \(dollars in ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 648.40 Td (thousands\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.25 608.70 303.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 352.25 608.70 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.25 608.70 98.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 454.25 608.70 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 458.25 608.70 103.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.25 577.70 303.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 352.25 577.70 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.25 577.70 98.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 454.25 577.70 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 458.25 577.70 103.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356.25 608.7 m 454.25 608.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.25 608.7 m 561.25 608.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356.25 562.7 m 454.25 562.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.25 562.7 m 561.25 562.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356.25 562.7 m 454.25 562.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356.25 547.7 m 454.25 547.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356.25 545.7 m 454.25 545.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.25 562.7 m 561.25 562.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.25 547.7 m 561.25 547.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458.25 545.7 m 561.25 545.7 l s BT /F2 11.50 Tf ET q 0 0 0 rg BT 366.65 613.71 Td (Mar) Tj ET Q q 0 0 0 rg BT 388.25 613.71 Td (ch 31, 2020) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 462.85 613.71 Td (December) Tj ET Q q 0 0 0 rg BT 512.45 613.71 Td ( 31, 2019) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 51.75 597.73 Td (Allowance for doubtful accounts, balance at beginning of period) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 358.75 597.73 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 424.00 597.73 Td (8,171) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 460.75 597.73 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 531.00 597.73 Td (4,069) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 51.75 582.23 Td (Bad debt expense) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 424.00 582.23 Td (3,122) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 525.25 582.23 Td (1) Tj ET Q q 0 0 0 rg BT 531.00 582.23 Td (1,819) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 51.75 567.23 Td (Actual write-of) Tj ET Q q 0 0 0 rg BT 122.21 567.23 Td (fs) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 420.15 567.23 Td (\(2,927) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 449.90 567.23 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 527.15 567.23 Td (\(7,717) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 556.90 567.23 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 51.75 551.73 Td (Allowance for doubtful accounts, balance at end of period) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 358.75 551.73 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 424.00 551.73 Td (8,366) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 460.75 551.73 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 531.00 551.73 Td (8,171) Tj ET Q BT /F1 11.50 Tf ET BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 493.20 Td (3.) Tj ET Q BT /F2 3.00 Tf ET q 0 0 0 rg BT 58.13 493.20 Td ( ) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 85.50 493.20 Td (Long-T) Tj ET Q q 0 0 0 rg BT 121.51 493.20 Td (erm Debt and Liquidity Matters) Tj ET Q BT /F2 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 465.60 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 127.77 465.60 Td (W) Tj ET Q q 0 0 0 rg BT 137.70 465.60 Td (est and ) Tj ET Q q 0 0 0 rg BT 172.20 465.60 Td (APS maintain committed revolving credit facilities in order to enhance liquidity and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 451.80 Td (provide credit support for their commercial paper programs, to refinance indebtedness, and for other general ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 438.00 Td (corporate purposes.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 424.20 Td () Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 85.50 410.40 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 130.33 410.40 Td (W) Tj ET Q q 0 0 0 rg BT 139.71 410.40 Td (est) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 382.80 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 382.80 Td (At ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 99.88 382.80 Td (March31, 2020) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 173.01 382.80 Td (, Pinnacle ) Tj ET Q q 0 0 0 rg BT 221.03 382.80 Td (W) Tj ET Q q 0 0 0 rg BT 230.97 382.80 Td (est had a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 274.08 382.80 Td ($200 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 333.18 382.80 Td ( revolving credit facility that matures in July ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 369.00 Td (2023. Pinnacle ) Tj ET Q q 0 0 0 rg BT 120.52 369.00 Td (W) Tj ET Q q 0 0 0 rg BT 130.45 369.00 Td (est has the option to increase the amount of the facility up to a maximum of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 481.12 369.00 Td ($300 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 540.22 369.00 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 355.20 Td (upon the satisfaction of certain conditions and with the consent of the lenders.Interest rates are based on ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 341.40 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 91.77 341.40 Td (W) Tj ET Q q 0 0 0 rg BT 101.70 341.40 Td (est's senior unsecured debt credit ratings. ) Tj ET Q q 0 0 0 rg BT 295.82 341.40 Td (The facility is available to support Pinnacle ) Tj ET Q q 0 0 0 rg BT 498.41 341.40 Td (W) Tj ET Q q 0 0 0 rg BT 508.34 341.40 Td (est's ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 530.54 341.40 Td ($200 ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 327.60 Td (million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 82.73 327.60 Td ( commercial paper program, for bank borrowings or for issuances of letters of credits. ) Tj ET Q q 0 0 0 rg BT 482.23 327.60 Td (At ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 496.61 327.60 Td (March31, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 313.80 Td (2020) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 72.50 313.80 Td (, Pinnacle ) Tj ET Q q 0 0 0 rg BT 120.52 313.80 Td (W) Tj ET Q q 0 0 0 rg BT 130.45 313.80 Td (est had ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 165.58 313.80 Td ($100 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 224.68 313.80 Td ( outstanding borrowings under its credit facility) Tj ET Q q 0 0 0 rg BT 443.04 313.80 Td (, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 448.79 313.80 Td (no) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 460.29 313.80 Td ( letters of credit ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 300.00 Td (outstanding and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 125.52 300.00 Td (no) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 137.02 300.00 Td ( commercial paper borrowings.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 272.40 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 272.40 Td (On May 5, 2020, Pinnacle ) Tj ET Q q 0 0 0 rg BT 208.90 272.40 Td (W) Tj ET Q q 0 0 0 rg BT 218.84 272.40 Td (est refinanced its 364-day ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 340.18 272.40 Td ($50 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 393.54 272.40 Td ( term loan agreement that would ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 258.60 Td (have matured on May 7, 2020 with a new 364-day ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 284.24 258.60 Td ($31 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 337.59 258.60 Td ( term loan agreement that matures on May 4, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 244.80 Td (2021. Borrowings under the agreement bear interest at London Inter) Tj ET Q q 0 0 0 rg BT 365.75 244.80 Td (-bank Of) Tj ET Q q 0 0 0 rg BT 406.73 244.80 Td (fered Rate \("LIBOR"\) plus ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 231.00 Td (1.40%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 79.20 231.00 Td ( per annum. ) Tj ET Q q 0 0 0 rg BT 138.93 231.00 Td (At March 31, 2020, Pinnacle ) Tj ET Q q 0 0 0 rg BT 274.46 231.00 Td (W) Tj ET Q q 0 0 0 rg BT 284.40 231.00 Td (est had ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 319.52 231.00 Td ($33 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 372.88 231.00 Td ( in outstanding borrowings under the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 217.20 Td (prior agreement.) Tj ET Q endstream endobj 47 0 obj <> endobj 48 0 obj <> stream BT /F2 11.50 Tf ET q 0 0 0 rg BT 84.45 757.95 Td (COMBINED NOTES ) Tj ET Q q 0 0 0 rg BT 193.51 757.95 Td (T) Tj ET Q q 0 0 0 rg BT 200.97 757.95 Td (O CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 356.68 757.95 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 447.74 757.95 Td ( ST) Tj ET Q q 0 0 0 rg BT 463.82 757.95 Td (A) Tj ET Q q 0 0 0 rg BT 471.28 757.95 Td (TEMENTS) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 32.55 Td (21) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 712.05 Td ( ) Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 85.50 712.05 Td (APS) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 684.45 Td (On January 15, 2020, ) Tj ET Q q 0 0 0 rg BT 186.44 684.45 Td (APS repaid at maturity the remaining ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 361.46 684.45 Td ($150 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 420.56 684.45 Td ( of the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 452.81 684.45 Td ($250 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 511.91 684.45 Td ( aggregate ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 670.65 Td (principal amount of its ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 156.82 670.65 Td (2.2%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 180.77 670.65 Td ( Senior Notes.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 643.05 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 643.05 Td (At ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 99.88 643.05 Td (March31, 2020) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 173.01 643.05 Td (, ) Tj ET Q q 0 0 0 rg BT 178.13 643.05 Td (APS had ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 221.58 643.05 Td (two) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 238.83 643.05 Td ( revolving credit facilities totaling ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 398.19 643.05 Td ($1 billion) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 442.60 643.05 Td (, including a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 502.64 643.05 Td ($500 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 561.75 643.05 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 629.25 Td (credit facility that matures in June 2022 and a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 262.51 629.25 Td ($500 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 321.61 629.25 Td ( facility that matures in July 2023. ) Tj ET Q q 0 0 0 rg BT 484.19 629.25 Td (APS may ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 615.45 Td (increase the amount of each facility up to a maximum of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 312.32 615.45 Td ($700 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 371.42 615.45 Td (, for a total of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 437.20 615.45 Td ($1.4 billion) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 490.23 615.45 Td (, upon the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 601.65 Td (satisfaction of certain conditions and with the consent of the lenders. Interest rates are based on ) Tj ET Q q 0 0 0 rg BT 492.76 601.65 Td (APS) Tj ET Q q 0 0 0 rg BT 517.05 601.65 Td (s senior ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 587.85 Td (unsecured debt credit ratings. ) Tj ET Q q 0 0 0 rg BT 190.44 587.85 Td (These facilities are available to support ) Tj ET Q q 0 0 0 rg BT 373.10 587.85 Td (APS) Tj ET Q q 0 0 0 rg BT 397.39 587.85 Td (s ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 404.74 587.85 Td ($500 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 463.84 587.85 Td ( commercial paper ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 574.05 Td (program, for bank borrowings or for issuances of letters of credit. ) Tj ET Q q 0 0 0 rg BT 356.09 574.05 Td (At March 31, 2020, ) Tj ET Q q 0 0 0 rg BT 448.72 574.05 Td (APS had ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 492.17 574.05 Td ($430 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 551.27 574.05 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 560.25 Td (outstanding borrowings under its revolving credit facilities and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 342.06 560.25 Td (no) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 353.56 560.25 Td ( letters of credit outstanding or commercial ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 546.45 Td (paper borrowings.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 518.85 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 518.85 Td (On November 27, 2018, the ) Tj ET Q q 0 0 0 rg BT 216.13 518.85 Td (ACC issued a financing order in which, subject to specified parameters ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 505.05 Td (and procedures, it approved ) Tj ET Q q 0 0 0 rg BT 179.47 505.05 Td (APS) Tj ET Q q 0 0 0 rg BT 203.77 505.05 Td (s short-term debt authorization equal to a sum of \(i\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 443.93 505.05 Td (7%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 459.26 505.05 Td (of ) Tj ET Q q 0 0 0 rg BT 473.95 505.05 Td (APS) Tj ET Q q 0 0 0 rg BT 498.25 505.05 Td (s ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 491.25 Td (capitalization, and \(ii\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 153.60 491.25 Td ($500 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 212.70 491.25 Td (\(which is required to be used for costs relating to purchases of natural gas ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 477.45 Td (and power\) and a long-term debt authorization of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 278.79 477.45 Td ($5.9 billion) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 331.82 477.45 Td (. On March 27, 2020, ) Tj ET Q q 0 0 0 rg BT 435.63 477.45 Td (APS filed an application ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 463.65 Td (with the ) Tj ET Q q 0 0 0 rg BT 89.11 463.65 Td (ACC to increase the long-term debt limit from ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 305.65 463.65 Td ($5.9 billion) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 358.68 463.65 Td ( to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 373.38 463.65 Td ($7.5 billion) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 426.41 463.65 Td ( and to continue its ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 449.85 Td (authorization of short-term debt granted in the 2018 financing order) Tj ET Q q 0 0 0 rg BT 360.87 449.85 Td (. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 436.05 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 422.25 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 422.25 Td (See "Financial ) Tj ET Q q 0 0 0 rg BT 154.71 422.25 Td (Assurances" in Note 8 for a discussion of other outstanding letters of credit.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 408.45 Td () Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 394.65 Td (Debt Fair) Tj ET Q q 0 0 0 rg BT 96.88 394.65 Td ( ) Tj ET Q q 0 0 0 rg BT 99.54 394.65 Td (V) Tj ET Q q 0 0 0 rg BT 106.79 394.65 Td (alue) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 380.85 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 367.05 Td (Our long-term debt fair value estimates are classified within Level 2 of the fair value hierarchy) Tj ET Q q 0 0 0 rg BT 521.27 367.05 Td (. ) Tj ET Q q 0 0 0 rg BT 529.69 367.05 Td (The ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 353.25 Td (following table presents the estimated fair value of our long-term debt, including current maturities \(dollars in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 339.45 Td (thousands\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 274.15 241.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 291.00 274.15 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.00 274.15 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 360.00 274.15 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 425.00 274.15 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.00 274.15 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.00 274.15 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 274.15 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 242.15 241.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 291.00 242.15 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.00 242.15 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 360.00 242.15 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 425.00 242.15 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.00 242.15 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.00 242.15 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 242.15 65.00 -16.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 291 300.15 m 356 300.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356 300.15 m 360 300.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360 300.15 m 425 300.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 300.15 m 494 300.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494 300.15 m 498 300.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 300.15 m 563 300.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 291 274.15 m 356 274.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360 300.15 m 425 300.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360 274.15 m 425 274.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 274.15 m 494 274.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 300.15 m 563 300.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 274.15 m 563 274.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 291 242.14999999999998 m 356 242.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360 242.14999999999998 m 425 242.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 242.14999999999998 m 494 242.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 242.14999999999998 m 563 242.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 291 242.14999999999998 m 356 242.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 291 227.14999999999998 m 356 227.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 291 225.14999999999998 m 356 225.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360 242.14999999999998 m 425 242.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360 227.14999999999998 m 425 227.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360 225.14999999999998 m 425 225.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 242.14999999999998 m 494 242.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 227.14999999999998 m 494 227.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 225.14999999999998 m 494 225.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 242.14999999999998 m 563 242.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 227.14999999999998 m 563 227.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 225.14999999999998 m 563 225.14999999999998 l s BT /F2 11.00 Tf ET q 0 0 0 rg BT 52.50 305.05 Td () Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 307.60 305.05 Td (As of Mar) Tj ET Q q 0 0 0 rg BT 355.15 305.05 Td (ch 31, 2020) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 437.70 305.05 Td (As of December) Tj ET Q q 0 0 0 rg BT 512.12 305.05 Td ( 31, 2019) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 52.50 279.05 Td () Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 301.30 290.05 Td (Carrying) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 303.70 279.05 Td (Amount) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 367.45 279.05 Td (Fair) Tj ET Q q 0 0 0 rg BT 387.51 279.05 Td () Tj ET Q q 0 0 0 rg BT 390.06 279.05 Td (V) Tj ET Q q 0 0 0 rg BT 397.40 279.05 Td (alue) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 439.30 290.05 Td (Carrying) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 441.70 279.05 Td (Amount) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 505.45 279.05 Td (Fair) Tj ET Q q 0 0 0 rg BT 525.41 279.05 Td () Tj ET Q q 0 0 0 rg BT 527.96 279.05 Td (V) Tj ET Q q 0 0 0 rg BT 534.89 279.05 Td (alue) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 263.68 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 94.77 263.68 Td (W) Tj ET Q q 0 0 0 rg BT 104.70 263.68 Td (est) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 293.50 263.18 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 314.25 263.18 Td (449,581) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 362.50 263.18 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 383.25 263.18 Td (448,449) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 431.50 263.18 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 452.25 263.18 Td (449,425) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 500.50 263.18 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 521.25 263.18 Td (450,822) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 52.50 248.02 Td (APS) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 305.60 247.18 Td (5,033,743) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 374.60 247.18 Td (5,634,265) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 443.60 247.18 Td (5,183,133) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 512.60 247.18 Td (5,743,570) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 58.50 231.68 Td (T) Tj ET Q q 0 0 0 rg BT 64.72 231.68 Td (otal) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 293.50 231.18 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 305.60 231.18 Td (5,483,324) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 362.50 231.18 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 374.60 231.18 Td (6,082,714) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 431.50 231.18 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 443.60 231.18 Td (5,632,558) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 500.50 231.18 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 512.60 231.18 Td (6,194,392) Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 199.05 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 199.05 Td () Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 185.25 Td (4.) Tj ET Q BT /F2 3.00 Tf ET q 0 0 0 rg BT 58.13 185.25 Td ( ) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 85.50 185.25 Td (Regulatory Matters) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 182.26 185.25 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 171.45 Td () Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 49.50 157.65 Td (COVID-19 Pandemic) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 130.05 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 130.05 Td (Due to the COVID-19 pandemic, ) Tj ET Q q 0 0 0 rg BT 240.72 130.05 Td (APS has voluntarily suspended disconnections of customers for ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 116.25 Td (nonpayment beginning March 13, 2020. In addition, ) Tj ET Q q 0 0 0 rg BT 295.12 116.25 Td (APS has waived all late payment fees during this current ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 102.45 Td (moratorium. ) Tj ET Q q 0 0 0 rg BT 111.79 102.45 Td (APS currently estimates that the Summer Disconnection Moratorium \(see below for discussion of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 88.65 Td (the Summer Disconnection Moratorium\), the suspension of disconnections during the COVID-19 pandemic ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 74.85 Td (and the increased bad debt expense associated with both events will result in a negative impact to its 2020 ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 61.05 Td (operating results of approximately) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 210.46 61.05 Td ($20) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 227.71 61.05 Td ( to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 242.40 61.05 Td ($30 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 295.76 61.05 Td (pre-tax above the impact of disconnections on its ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 47.25 Td (operating results for years that did not have the Summer Disconnection Moratorium or COVID-19 pandemic. ) Tj ET Q endstream endobj 49 0 obj <> endobj 50 0 obj <> stream BT /F2 11.50 Tf ET q 0 0 0 rg BT 84.45 757.95 Td (COMBINED NOTES ) Tj ET Q q 0 0 0 rg BT 193.51 757.95 Td (T) Tj ET Q q 0 0 0 rg BT 200.97 757.95 Td (O CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 356.68 757.95 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 447.74 757.95 Td ( ST) Tj ET Q q 0 0 0 rg BT 463.82 757.95 Td (A) Tj ET Q q 0 0 0 rg BT 471.28 757.95 Td (TEMENTS) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 32.55 Td (22) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 712.05 Td (APS is anticipating an increase in bad debt expense associated with the COVID-19 pandemic, but it still ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 698.25 Td (believes that costs associated with the Summer Disconnection Moratorium and the COVID-19 disconnection ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 684.45 Td (suspensions and related bad debt expense with both events will fall within this estimated ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 459.60 684.45 Td ($20) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 476.85 684.45 Td ( to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 491.54 684.45 Td ($30 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 544.90 684.45 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 670.65 Td (range. ) Tj ET Q q 0 0 0 rg BT 83.46 670.65 Td (These estimated impact amounts depend on certain assumptions, including customer behaviors and the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 656.85 Td (impacts of COVID-19 on the economy not extending into 2021. ) Tj ET Q q 0 0 0 rg BT 349.10 656.85 Td (APS also established a customer support fund ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 643.05 Td (of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 61.95 643.05 Td ($1.5 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 118.18 643.05 Td ( to assist customers with a one-time credit of up to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 352.93 643.05 Td ($100) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 375.93 643.05 Td ( on their bill with a priority given to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 629.25 Td (customers on limited-income service plans. ) Tj ET Q q 0 0 0 rg BT 254.22 629.25 Td (Additionally) Tj ET Q q 0 0 0 rg BT 311.61 629.25 Td (, due to COVID-19, ) Tj ET Q q 0 0 0 rg BT 405.52 629.25 Td (APS delayed the reset of the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 615.45 Td (Environmental Improvement Surchar) Tj ET Q q 0 0 0 rg BT 221.11 615.45 Td (ge \("EIS"\) adjustor and suspended the discontinuation of ) Tj ET Q q 0 0 0 rg BT 485.16 615.45 Td (TEAM Phase II ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 601.65 Td (to the first billing cycle in May 2020 rather than ) Tj ET Q q 0 0 0 rg BT 273.06 601.65 Td (April 2020 \(see below for discussion of EIS and ) Tj ET Q q 0 0 0 rg BT 497.39 601.65 Td (TEAM Phase ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 587.85 Td (II\).) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 560.25 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 560.25 Td (On ) Tj ET Q q 0 0 0 rg BT 101.80 560.25 Td (April 17, 2020, ) Tj ET Q q 0 0 0 rg BT 174.31 560.25 Td (APS filed an application with the ) Tj ET Q q 0 0 0 rg BT 329.54 560.25 Td (ACC requesting a COVID-19 emer) Tj ET Q q 0 0 0 rg BT 492.22 560.25 Td (gency relief ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 546.45 Td (package to provide additional assistance to its customers. On May 5, 2020, the ) Tj ET Q q 0 0 0 rg BT 415.84 546.45 Td (ACC approved ) Tj ET Q q 0 0 0 rg BT 487.39 546.45 Td (APS returning ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 532.65 Td ($36 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 102.85 532.65 Td ( that has been collected through the Demand Side Management \("DSM"\) ) Tj ET Q q 0 0 0 rg BT 443.74 532.65 Td (Adjustor Clause, but not ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 518.85 Td (allocated for current DSM programs, directly to customers through a bill credit in June 2020 \(see below for ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 505.05 Td (discussion of the DSM ) Tj ET Q q 0 0 0 rg BT 156.84 505.05 Td (Adjustor Clause\). ) Tj ET Q q 0 0 0 rg BT 245.97 505.05 Td (Also, on May 5, 2020, ) Tj ET Q q 0 0 0 rg BT 351.39 505.05 Td (APS also voluntarily committed to the ) Tj ET Q q 0 0 0 rg BT 530.27 505.05 Td (ACC ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 491.25 Td (to contribute ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 110.82 491.25 Td ($5.3 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 167.05 491.25 Td ( of non-ratepayer funds to provide assistance to residential and business customers ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 477.45 Td (that have been impacted by the COVID-19 pandemic.) Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 49.50 449.85 Td (2019 Retail Rate Case Filing with the ) Tj ET Q q 0 0 0 rg BT 229.58 449.85 Td (Arizona Corporation Commission) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 422.25 Td (On October 31, 2019, ) Tj ET Q q 0 0 0 rg BT 187.71 422.25 Td (APS filed an application with the ) Tj ET Q q 0 0 0 rg BT 342.94 422.25 Td (ACC for an annual increase in retail base rates ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 408.45 Td (of) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 61.95 408.45 Td ($69 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 115.31 408.45 Td (. ) Tj ET Q q 0 0 0 rg BT 123.72 408.45 Td (This amount includes recovery of the deferral and rate base ef) Tj ET Q q 0 0 0 rg BT 408.34 408.45 Td (fects of the Four Corners ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 394.65 Td (selective catalytic reduction \("SCR"\) project that is currently the subject of a separate proceeding \(see SCR ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 380.85 Td (Cost Recovery below\). It also reflects a net credit to base rates of approximately ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 429.51 380.85 Td ($1) Tj ET Q q 0 0 0 rg BT 440.58 380.85 Td (15 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 488.18 380.85 Td ( primarily due ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 367.05 Td (to the prospective inclusion of rate refunds currently provided through the ) Tj ET Q q 0 0 0 rg BT 392.60 367.05 Td (T) Tj ET Q q 0 0 0 rg BT 398.83 367.05 Td (ax Expense ) Tj ET Q q 0 0 0 rg BT 453.75 367.05 Td (Adjustment ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 353.25 Td (Mechanism \("TEAM"\). ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 164.28 353.25 Td (The proposed total revenue increase in ) Tj ET Q q 0 0 0 rg BT 336.55 353.25 Td (APS's application is ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 427.45 353.25 Td ($184 million) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 483.98 353.25 Td (. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 492.23 353.25 Td (The average ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 339.45 Td (annual customer bill impact of ) Tj ET Q q 0 0 0 rg BT 192.26 339.45 Td (APS) Tj ET Q q 0 0 0 rg BT 216.55 339.45 Td (s request is an increase of) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 337.26 339.45 Td (5.6%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 361.22 339.45 Td (\(the average annual bill impact for a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 325.65 Td (typical ) Tj ET Q q 0 0 0 rg BT 83.04 325.65 Td (APS residential customer is ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 213.36 325.65 Td (5.4%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 237.31 325.65 Td (\).) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 298.05 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 298.05 Td (The principal provisions of ) Tj ET Q q 0 0 0 rg BT 212.62 298.05 Td (APS's application are:) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 270.45 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 270.45 Td (a test year comprised of twelve months ended June 30, 2019, adjusted as described below;) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 256.65 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 256.65 Td (an original cost rate base of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 233.15 256.65 Td ($8.87 billion) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 291.93 256.65 Td (, which approximates the ) Tj ET Q q 0 0 0 rg BT 409.78 256.65 Td (ACC-jurisdictional portion of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 242.85 Td (the book value of utility assets, net of accumulated depreciation and other credits;) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 229.05 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 229.05 Td (the following proposed capital structure and costs of capital:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 92.00 204.55 233.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 325.00 204.55 16.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 341.00 204.55 97.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.00 204.55 16.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 454.00 204.55 85.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 539.00 204.55 16.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 92.00 174.55 233.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 325.00 174.55 16.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 341.00 174.55 97.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.00 174.55 16.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 454.00 174.55 85.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 539.00 174.55 16.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 341 204.54999999999995 m 438 204.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 454 204.54999999999995 m 539 204.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 341 204.54999999999995 m 438 204.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 454 204.54999999999995 m 539 204.54999999999995 l s BT /F2 11.50 Tf ET q 0 0 0 rg BT 94.50 208.26 Td () Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 332.50 208.26 Td () Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 345.80 208.26 Td (CapitalStructur) Tj ET Q q 0 0 0 rg BT 427.15 208.26 Td (e) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 445.50 208.26 Td () Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 458.90 208.26 Td (CostofCapital) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 546.50 208.26 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 94.50 194.08 Td (Long-term debt) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 327.50 194.08 Td () Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 412.50 193.73 Td (45.3) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 440.50 194.08 Td (%) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 513.50 193.73 Td (4.10) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 541.50 194.08 Td (%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 94.50 179.08 Td (Common stock equity) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 327.50 179.08 Td () Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 412.50 178.73 Td (54.7) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 440.50 179.08 Td (%) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 507.50 178.73 Td (10.15) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 541.50 179.08 Td (%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 94.50 164.08 Td (W) Tj ET Q q 0 0 0 rg BT 104.43 164.08 Td (eighted-average cost of capital) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 327.50 164.08 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 434.50 164.08 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 440.50 164.08 Td () Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 513.50 163.73 Td (7.41) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 541.50 164.08 Td (%) Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 146.25 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 132.45 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 132.45 Td (a1%return on the increment of fair value rate base above ) Tj ET Q q 0 0 0 rg BT 372.36 132.45 Td (APS) Tj ET Q q 0 0 0 rg BT 396.65 132.45 Td (s original cost rate base, as ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 118.65 Td (provided for by ) Tj ET Q q 0 0 0 rg BT 177.28 118.65 Td (Arizona law;) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 104.85 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 104.85 Td (authorization to defer until ) Tj ET Q q 0 0 0 rg BT 228.69 104.85 Td (APS's next general rate case the increase or decrease in its ) Tj ET Q q 0 0 0 rg BT 498.67 104.85 Td (Arizona ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 91.05 Td (property taxes attributable to tax rate changes after the date the rate application is adjudicated;) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 77.25 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 77.25 Td (a number of proposed rate and program changes for residential customers, including:) Tj ET Q BT /F1 11.50 Tf ET /GS0 gs q 4.79 0 0 11.46 121.50 60.97 cm /I26 Do Q q 0 0 0 rg BT 126.29 63.45 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 139.50 63.45 Td (a super of) Tj ET Q q 0 0 0 rg BT 184.64 63.45 Td (f-peak period during the winter months for ) Tj ET Q q 0 0 0 rg BT 383.60 63.45 Td (APS) Tj ET Q q 0 0 0 rg BT 407.90 63.45 Td (s time-of-use with demand rates;) Tj ET Q BT /F1 11.50 Tf ET /GS0 gs q 4.79 0 0 11.46 121.50 47.17 cm /I27 Do Q q 0 0 0 rg BT 126.29 49.65 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 139.50 49.65 Td (additional ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 188.37 49.65 Td ($1.25 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 250.34 49.65 Td ( in funding for ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 319.97 49.65 Td (APS's ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 349.16 49.65 Td (limited-income crisis bill program; and) Tj ET Q endstream endobj 51 0 obj <> endobj 52 0 obj <> stream BT /F2 11.50 Tf ET q 0 0 0 rg BT 84.45 757.95 Td (COMBINED NOTES ) Tj ET Q q 0 0 0 rg BT 193.51 757.95 Td (T) Tj ET Q q 0 0 0 rg BT 200.97 757.95 Td (O CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 356.68 757.95 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 447.74 757.95 Td ( ST) Tj ET Q q 0 0 0 rg BT 463.82 757.95 Td (A) Tj ET Q q 0 0 0 rg BT 471.28 757.95 Td (TEMENTS) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 32.55 Td (23) Tj ET Q BT /F1 11.50 Tf ET /GS0 gs q 4.79 0 0 11.46 121.50 709.57 cm /I28 Do Q q 0 0 0 rg BT 126.29 712.05 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 139.50 712.05 Td (a flat bill/subscription rate pilot program; ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 698.25 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 698.25 Td (proposed rate design changes for commercial customers, including an experimental program ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 684.45 Td (designed to provide access to market pricing for up to 200 MW) Tj ET Q q 0 0 0 rg BT 394.87 684.45 Td ( of medium and lar) Tj ET Q q 0 0 0 rg BT 482.17 684.45 Td (ge commercial ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 670.65 Td (customers;) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 656.85 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 656.85 Td (recovery of the deferral and rate base ef) Tj ET Q q 0 0 0 rg BT 286.22 656.85 Td (fects of the construction and operating costs of the Ocotillo ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 643.05 Td (modernization project \() Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 211.43 643.05 Td (see discussion below of the 2017 Settlement ) Tj ET Q q 0 0 0 rg BT 408.49 643.05 Td (Agreement) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 457.35 643.05 Td (\); and) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 629.25 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 629.25 Td (continued recovery of the remaining investment and other costs related to the retirement and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 615.45 Td (closure of the Navajo Generating Station \(the "Navajo Plant"\) \(see "Navajo Plant" below\).) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 587.85 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 587.85 Td (APS requested that the increase become ef) Tj ET Q q 0 0 0 rg BT 281.36 587.85 Td (fective December 1, 2020. ) Tj ET Q q 0 0 0 rg BT 408.56 587.85 Td (The hearing for this rate case ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 574.05 Td (was delayed by 75 days, at the request of ) Tj ET Q q 0 0 0 rg BT 240.48 574.05 Td (ACC Staf) Tj ET Q q 0 0 0 rg BT 285.32 574.05 Td (f, and is currently scheduled to begin September 30, 2020. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 560.25 Td (APS cannot predict the outcome of its request.) Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 49.50 532.65 Td (2016 Retail Rate Case Filing with the ) Tj ET Q q 0 0 0 rg BT 229.58 532.65 Td (Arizona Corporation Commission) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 518.85 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 505.05 Td (On June1, 2016, ) Tj ET Q q 0 0 0 rg BT 166.00 505.05 Td (APS filed an application with the ) Tj ET Q q 0 0 0 rg BT 321.23 505.05 Td (ACC for an annual increase in retail base rates. On ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 491.25 Td (March 27, 2017, a majority of the stakeholders in the general retail rate case, including the ) Tj ET Q q 0 0 0 rg BT 468.16 491.25 Td (ACC Staf) Tj ET Q q 0 0 0 rg BT 513.00 491.25 Td (f, the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 477.45 Td (Residential Utility Consumer Of) Tj ET Q q 0 0 0 rg BT 199.10 477.45 Td (fice, limited income advocates and private rooftop solar or) Tj ET Q q 0 0 0 rg BT 468.09 477.45 Td (ganizations signed a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 463.65 Td (settlement agreement \(the "2017 Settlement ) Tj ET Q q 0 0 0 rg BT 253.15 463.65 Td (Agreement"\) and filed it with the ) Tj ET Q q 0 0 0 rg BT 407.95 463.65 Td (ACC. ) Tj ET Q q 0 0 0 rg BT 440.01 463.65 Td (The 2017 Settlement ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 449.85 Td (Agreement provides for a net retail base rate increase of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 310.05 449.85 Td ($94.6 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 372.02 449.85 Td (, excluding the transfer of adjustor ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 436.05 Td (balances, consisting of: \(1\) a non-fuel, non-depreciation, base rate increase of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 409.06 436.05 Td ($87.2 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 471.03 436.05 Td ( per year; \(2\) a base ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 422.25 Td (rate decrease of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 124.52 422.25 Td ($53.6 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 186.49 422.25 Td ( attributable to reduced fuel and purchased power costs; and \(3\) a base rate ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 408.45 Td (increase of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 102.50 408.45 Td ($61.0 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 164.47 408.45 Td ( due to changes in depreciation schedules. ) Tj ET Q q 0 0 0 rg BT 363.22 408.45 Td (The average annual customer bill impact ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 394.65 Td (under the 2017 Settlement ) Tj ET Q q 0 0 0 rg BT 172.79 394.65 Td (Agreement was calculated as an increase of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 376.18 394.65 Td (3.28%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 405.88 394.65 Td ( \(the average annual bill impact ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 380.85 Td (for a typical ) Tj ET Q q 0 0 0 rg BT 107.30 380.85 Td (APS residential customer was calculated as an increase of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 376.50 380.85 Td (4.54%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 406.21 380.85 Td (\).) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 353.25 Td (Other ) Tj ET Q q 0 0 0 rg BT 114.56 353.25 Td (key ) Tj ET Q q 0 0 0 rg BT 134.04 353.25 Td (provisions ) Tj ET Q q 0 0 0 rg BT 184.84 353.25 Td (of ) Tj ET Q q 0 0 0 rg BT 197.29 353.25 Td (the ) Tj ET Q q 0 0 0 rg BT 214.21 353.25 Td (agreement ) Tj ET Q q 0 0 0 rg BT 264.98 353.25 Td (include ) Tj ET Q q 0 0 0 rg BT 301.70 353.25 Td (the ) Tj ET Q q 0 0 0 rg BT 318.63 353.25 Td (following:) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 325.65 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 325.65 Td (an ) Tj ET Q q 0 0 0 rg BT 117.23 325.65 Td (agreement ) Tj ET Q q 0 0 0 rg BT 167.99 325.65 Td (by ) Tj ET Q q 0 0 0 rg BT 181.73 325.65 Td (APS ) Tj ET Q q 0 0 0 rg BT 205.71 325.65 Td (not ) Tj ET Q q 0 0 0 rg BT 223.28 325.65 Td (to ) Tj ET Q q 0 0 0 rg BT 235.10 325.65 Td (file ) Tj ET Q q 0 0 0 rg BT 253.30 325.65 Td (another ) Tj ET Q q 0 0 0 rg BT 290.65 325.65 Td (general ) Tj ET Q q 0 0 0 rg BT 327.37 325.65 Td (retail ) Tj ET Q q 0 0 0 rg BT 353.87 325.65 Td (rate ) Tj ET Q q 0 0 0 rg BT 373.98 325.65 Td (case ) Tj ET Q q 0 0 0 rg BT 396.64 325.65 Td (application ) Tj ET Q q 0 0 0 rg BT 450.61 325.65 Td (before ) Tj ET Q q 0 0 0 rg BT 482.85 325.65 Td (June ) Tj ET Q q 0 0 0 rg BT 506.81 325.65 Td (1, ) Tj ET Q q 0 0 0 rg BT 518.31 325.65 Td (2019;) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 311.85 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 311.85 Td (an ) Tj ET Q q 0 0 0 rg BT 117.23 311.85 Td (authorized ) Tj ET Q q 0 0 0 rg BT 168.64 311.85 Td (return ) Tj ET Q q 0 0 0 rg BT 198.97 311.85 Td (on ) Tj ET Q q 0 0 0 rg BT 213.35 311.85 Td (common ) Tj ET Q q 0 0 0 rg BT 256.47 311.85 Td (equity ) Tj ET Q q 0 0 0 rg BT 288.09 311.85 Td (of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.54 311.85 Td (10.0%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 330.25 311.85 Td (;) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 298.05 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 298.05 Td (a ) Tj ET Q q 0 0 0 rg BT 111.48 298.05 Td (capital ) Tj ET Q q 0 0 0 rg BT 145.00 298.05 Td (structure ) Tj ET Q q 0 0 0 rg BT 188.11 298.05 Td (comprised ) Tj ET Q q 0 0 0 rg BT 238.89 298.05 Td (of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 251.35 298.05 Td (44.2%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 281.05 298.05 Td ( ) Tj ET Q q 0 0 0 rg BT 283.93 298.05 Td (debt ) Tj ET Q q 0 0 0 rg BT 306.60 298.05 Td (and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 326.08 298.05 Td (55.8%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 355.79 298.05 Td ( ) Tj ET Q q 0 0 0 rg BT 358.66 298.05 Td (common ) Tj ET Q q 0 0 0 rg BT 401.78 298.05 Td (equity;) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 284.25 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 284.25 Td (a ) Tj ET Q q 0 0 0 rg BT 113.33 284.25 Td (cost ) Tj ET Q q 0 0 0 rg BT 136.58 284.25 Td (deferral ) Tj ET Q q 0 0 0 rg BT 177.05 284.25 Td (order ) Tj ET Q q 0 0 0 rg BT 206.04 284.25 Td (for ) Tj ET Q q 0 0 0 rg BT 224.18 284.25 Td (potential ) Tj ET Q q 0 0 0 rg BT 269.14 284.25 Td (future ) Tj ET Q q 0 0 0 rg BT 301.33 284.25 Td (recovery ) Tj ET Q q 0 0 0 rg BT 346.28 284.25 Td (in ) Tj ET Q q 0 0 0 rg BT 358.91 284.25 Td (APS) Tj ET Q q 0 0 0 rg BT 383.20 284.25 Td (s ) Tj ET Q q 0 0 0 rg BT 392.40 284.25 Td (next ) Tj ET Q q 0 0 0 rg BT 416.92 284.25 Td (general ) Tj ET Q q 0 0 0 rg BT 455.49 284.25 Td (retail ) Tj ET Q q 0 0 0 rg BT 483.84 284.25 Td (rate ) Tj ET Q q 0 0 0 rg BT 505.80 284.25 Td (case ) Tj ET Q q 0 0 0 rg BT 530.31 284.25 Td (for ) Tj ET Q q 0 0 0 rg BT 548.45 284.25 Td (the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 270.45 Td (construction ) Tj ET Q q 0 0 0 rg BT 163.23 270.45 Td (and ) Tj ET Q q 0 0 0 rg BT 182.70 270.45 Td (operating ) Tj ET Q q 0 0 0 rg BT 229.01 270.45 Td (costs ) Tj ET Q q 0 0 0 rg BT 254.25 270.45 Td (APS ) Tj ET Q q 0 0 0 rg BT 278.22 270.45 Td (incurs ) Tj ET Q q 0 0 0 rg BT 309.20 270.45 Td (for ) Tj ET Q q 0 0 0 rg BT 325.49 270.45 Td (its ) Tj ET Q q 0 0 0 rg BT 339.23 270.45 Td (Ocotillo ) Tj ET Q q 0 0 0 rg BT 379.79 270.45 Td (modernization ) Tj ET Q q 0 0 0 rg BT 449.09 270.45 Td (project; ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 256.65 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 256.65 Td (a ) Tj ET Q q 0 0 0 rg BT 111.45 256.65 Td (cost ) Tj ET Q q 0 0 0 rg BT 132.82 256.65 Td (deferral ) Tj ET Q q 0 0 0 rg BT 171.41 256.65 Td (and ) Tj ET Q q 0 0 0 rg BT 190.85 256.65 Td (procedure ) Tj ET Q q 0 0 0 rg BT 239.67 256.65 Td (to ) Tj ET Q q 0 0 0 rg BT 251.46 256.65 Td (allow ) Tj ET Q q 0 0 0 rg BT 279.22 256.65 Td (APS ) Tj ET Q q 0 0 0 rg BT 303.16 256.65 Td (to ) Tj ET Q q 0 0 0 rg BT 314.95 256.65 Td (request ) Tj ET Q q 0 0 0 rg BT 351.00 256.65 Td (rate ) Tj ET Q q 0 0 0 rg BT 371.08 256.65 Td (adjustments ) Tj ET Q q 0 0 0 rg BT 428.86 256.65 Td (prior ) Tj ET Q q 0 0 0 rg BT 454.06 256.65 Td (to ) Tj ET Q q 0 0 0 rg BT 465.85 256.65 Td (its ) Tj ET Q q 0 0 0 rg BT 479.56 256.65 Td (next ) Tj ET Q q 0 0 0 rg BT 502.20 256.65 Td (general ) Tj ET Q q 0 0 0 rg BT 538.88 256.65 Td (retail ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 242.85 Td (rate ) Tj ET Q q 0 0 0 rg BT 123.23 242.85 Td (case ) Tj ET Q q 0 0 0 rg BT 145.52 242.85 Td (related ) Tj ET Q q 0 0 0 rg BT 179.31 242.85 Td (to ) Tj ET Q q 0 0 0 rg BT 190.75 242.85 Td (its ) Tj ET Q q 0 0 0 rg BT 204.12 242.85 Td (share ) Tj ET Q q 0 0 0 rg BT 230.88 242.85 Td (of ) Tj ET Q q 0 0 0 rg BT 242.96 242.85 Td (the ) Tj ET Q q 0 0 0 rg BT 259.51 242.85 Td (construction ) Tj ET Q q 0 0 0 rg BT 318.86 242.85 Td (costs ) Tj ET Q q 0 0 0 rg BT 344.36 242.85 Td (associated ) Tj ET Q q 0 0 0 rg BT 394.12 242.85 Td (with ) Tj ET Q q 0 0 0 rg BT 417.07 242.85 Td (installing ) Tj ET Q q 0 0 0 rg BT 462.38 242.85 Td (SCR ) Tj ET Q q 0 0 0 rg BT 486.61 242.85 Td (equipment ) Tj ET Q q 0 0 0 rg BT 537.66 242.85 Td (at ) Tj ET Q q 0 0 0 rg BT 548.46 242.85 Td (the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 229.05 Td (Four ) Tj ET Q q 0 0 0 rg BT 128.10 229.05 Td (Corners ) Tj ET Q q 0 0 0 rg BT 167.39 229.05 Td (Power ) Tj ET Q q 0 0 0 rg BT 199.65 229.05 Td (Plant ) Tj ET Q q 0 0 0 rg BT 226.16 229.05 Td (\("Four ) Tj ET Q q 0 0 0 rg BT 259.29 229.05 Td (Corners"\); ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 215.25 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 215.25 Td (a ) Tj ET Q q 0 0 0 rg BT 111.79 215.25 Td (deferral ) Tj ET Q q 0 0 0 rg BT 150.73 215.25 Td (for ) Tj ET Q q 0 0 0 rg BT 167.33 215.25 Td (future ) Tj ET Q q 0 0 0 rg BT 197.97 215.25 Td (recovery ) Tj ET Q q 0 0 0 rg BT 241.38 215.25 Td (\(or ) Tj ET Q q 0 0 0 rg BT 257.98 215.25 Td (credit ) Tj ET Q q 0 0 0 rg BT 287.35 215.25 Td (to ) Tj ET Q q 0 0 0 rg BT 299.48 215.25 Td (customers\) ) Tj ET Q q 0 0 0 rg BT 353.13 215.25 Td (of ) Tj ET Q q 0 0 0 rg BT 365.90 215.25 Td (the ) Tj ET Q q 0 0 0 rg BT 382.43 215.25 Td (Arizona ) Tj ET Q q 0 0 0 rg BT 422.66 215.25 Td (property ) Tj ET Q q 0 0 0 rg BT 464.80 215.25 Td (tax ) Tj ET Q q 0 0 0 rg BT 482.04 215.25 Td (expense ) Tj ET Q q 0 0 0 rg BT 522.27 215.25 Td (above ) Tj ET Q q 0 0 0 rg BT 552.92 215.25 Td (or ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 201.45 Td (below ) Tj ET Q q 0 0 0 rg BT 134.48 201.45 Td (a ) Tj ET Q q 0 0 0 rg BT 142.46 201.45 Td (specified ) Tj ET Q q 0 0 0 rg BT 186.84 201.45 Td (test ) Tj ET Q q 0 0 0 rg BT 205.69 201.45 Td (year ) Tj ET Q q 0 0 0 rg BT 228.35 201.45 Td (level ) Tj ET Q q 0 0 0 rg BT 253.58 201.45 Td (caused ) Tj ET Q q 0 0 0 rg BT 287.74 201.45 Td (by ) Tj ET Q q 0 0 0 rg BT 302.12 201.45 Td (changes ) Tj ET Q q 0 0 0 rg BT 342.03 201.45 Td (to ) Tj ET Q q 0 0 0 rg BT 353.85 201.45 Td (the ) Tj ET Q q 0 0 0 rg BT 370.78 201.45 Td (applicable ) Tj ET Q q 0 0 0 rg BT 420.27 201.45 Td (Arizona ) Tj ET Q q 0 0 0 rg BT 460.18 201.45 Td (property ) Tj ET Q q 0 0 0 rg BT 502.02 201.45 Td (tax ) Tj ET Q q 0 0 0 rg BT 518.94 201.45 Td (rate;) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 187.65 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 187.65 Td (an ) Tj ET Q q 0 0 0 rg BT 116.83 187.65 Td (expansion ) Tj ET Q q 0 0 0 rg BT 165.94 187.65 Td (of ) Tj ET Q q 0 0 0 rg BT 178.00 187.65 Td (the ) Tj ET Q q 0 0 0 rg BT 194.53 187.65 Td (Power ) Tj ET Q q 0 0 0 rg BT 226.39 187.65 Td (Supply ) Tj ET Q q 0 0 0 rg BT 260.92 187.65 Td (Adjustor ) Tj ET Q q 0 0 0 rg BT 303.65 187.65 Td (\(PSA\) ) Tj ET Q q 0 0 0 rg BT 345.09 187.65 Td (to ) Tj ET Q q 0 0 0 rg BT 356.52 187.65 Td (include ) Tj ET Q q 0 0 0 rg BT 392.84 187.65 Td (certain ) Tj ET Q q 0 0 0 rg BT 426.61 187.65 Td (environmental ) Tj ET Q q 0 0 0 rg BT 495.51 187.65 Td (chemical ) Tj ET Q q 0 0 0 rg BT 539.49 187.65 Td (costs ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 173.85 Td (and ) Tj ET Q q 0 0 0 rg BT 122.98 173.85 Td (third-party ) Tj ET Q q 0 0 0 rg BT 175.03 173.85 Td (ener) Tj ET Q q 0 0 0 rg BT 194.61 173.85 Td (gy ) Tj ET Q q 0 0 0 rg BT 208.99 173.85 Td (storage ) Tj ET Q q 0 0 0 rg BT 245.07 173.85 Td (costs;) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 160.05 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 160.05 Td (a ) Tj ET Q q 0 0 0 rg BT 110.15 160.05 Td (new ) Tj ET Q q 0 0 0 rg BT 130.52 160.05 Td (AZ ) Tj ET Q q 0 0 0 rg BT 147.40 160.05 Td (Sun ) Tj ET Q q 0 0 0 rg BT 166.84 160.05 Td (II ) Tj ET Q q 0 0 0 rg BT 176.05 160.05 Td (program ) Tj ET Q q 0 0 0 rg BT 216.56 160.05 Td (\(now ) Tj ET Q q 0 0 0 rg BT 241.74 160.05 Td (known ) Tj ET Q q 0 0 0 rg BT 274.59 160.05 Td (as ) Tj ET Q q 0 0 0 rg BT 285.72 160.05 Td ("APS ) Tj ET Q q 0 0 0 rg BT 313.06 160.05 Td (Solar ) Tj ET Q q 0 0 0 rg BT 338.89 160.05 Td (Communities"\) ) Tj ET Q q 0 0 0 rg BT 410.94 160.05 Td (for ) Tj ET Q q 0 0 0 rg BT 425.89 160.05 Td (utility-owned ) Tj ET Q q 0 0 0 rg BT 489.41 160.05 Td (solar ) Tj ET Q q 0 0 0 rg BT 513.31 160.05 Td (distributed ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 146.25 Td (generation ) Tj ET Q q 0 0 0 rg BT 156.58 146.25 Td (with ) Tj ET Q q 0 0 0 rg BT 181.57 146.25 Td (the ) Tj ET Q q 0 0 0 rg BT 200.17 146.25 Td (purpose ) Tj ET Q q 0 0 0 rg BT 241.13 146.25 Td (of ) Tj ET Q q 0 0 0 rg BT 255.25 146.25 Td (expanding ) Tj ET Q q 0 0 0 rg BT 307.70 146.25 Td (access ) Tj ET Q q 0 0 0 rg BT 341.62 146.25 Td (to ) Tj ET Q q 0 0 0 rg BT 355.11 146.25 Td (rooftop ) Tj ET Q q 0 0 0 rg BT 393.51 146.25 Td (solar ) Tj ET Q q 0 0 0 rg BT 420.42 146.25 Td (for ) Tj ET Q q 0 0 0 rg BT 438.37 146.25 Td (low ) Tj ET Q q 0 0 0 rg BT 460.17 146.25 Td (and ) Tj ET Q q 0 0 0 rg BT 481.32 146.25 Td (moderate ) Tj ET Q q 0 0 0 rg BT 528.65 146.25 Td (income ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 132.45 Td (Arizonans, ) Tj ET Q q 0 0 0 rg BT 157.07 132.45 Td (recoverable ) Tj ET Q q 0 0 0 rg BT 214.13 132.45 Td (through ) Tj ET Q q 0 0 0 rg BT 253.34 132.45 Td (the ) Tj ET Q q 0 0 0 rg BT 270.06 132.45 Td (Arizona ) Tj ET Q q 0 0 0 rg BT 310.53 132.45 Td (Renewable ) Tj ET Q q 0 0 0 rg BT 365.06 132.45 Td (Ener) Tj ET Q q 0 0 0 rg BT 386.56 132.45 Td (gy ) Tj ET Q q 0 0 0 rg BT 401.49 132.45 Td (Standard ) Tj ET Q q 0 0 0 rg BT 445.80 132.45 Td (and ) Tj ET Q q 0 0 0 rg BT 465.59 132.45 Td (T) Tj ET Q q 0 0 0 rg BT 471.81 132.45 Td (arif) Tj ET Q q 0 0 0 rg BT 487.56 132.45 Td (f ) Tj ET Q q 0 0 0 rg BT 494.82 132.45 Td (\("RES"\), ) Tj ET Q q 0 0 0 rg BT 539.27 132.45 Td (to ) Tj ET Q q 0 0 0 rg BT 551.65 132.45 Td (be ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 118.65 Td (no ) Tj ET Q q 0 0 0 rg BT 118.20 118.65 Td (less ) Tj ET Q q 0 0 0 rg BT 138.65 118.65 Td (than ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 161.64 118.65 Td ($10 ) Tj ET Q q 0 0 0 rg BT 182.09 118.65 Td (million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 215.32 118.65 Td ( ) Tj ET Q q 0 0 0 rg BT 218.52 118.65 Td (per ) Tj ET Q q 0 0 0 rg BT 236.40 118.65 Td (year ) Tj ET Q q 0 0 0 rg BT 259.38 118.65 Td (in ) Tj ET Q q 0 0 0 rg BT 271.53 118.65 Td (capital ) Tj ET Q q 0 0 0 rg BT 305.37 118.65 Td (costs, ) Tj ET Q q 0 0 0 rg BT 334.45 118.65 Td (and ) Tj ET Q q 0 0 0 rg BT 354.25 118.65 Td (not ) Tj ET Q q 0 0 0 rg BT 372.14 118.65 Td (more ) Tj ET Q q 0 0 0 rg BT 398.97 118.65 Td (than ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 421.97 118.65 Td ($15 ) Tj ET Q q 0 0 0 rg BT 442.42 118.65 Td (million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 475.64 118.65 Td ( ) Tj ET Q q 0 0 0 rg BT 478.84 118.65 Td (per ) Tj ET Q q 0 0 0 rg BT 496.72 118.65 Td (year ) Tj ET Q q 0 0 0 rg BT 519.71 118.65 Td (in ) Tj ET Q q 0 0 0 rg BT 531.85 118.65 Td (capital ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 104.85 Td (costs;) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 91.05 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 91.05 Td (an ) Tj ET Q q 0 0 0 rg BT 118.67 91.05 Td (increase ) Tj ET Q q 0 0 0 rg BT 160.65 91.05 Td (to ) Tj ET Q q 0 0 0 rg BT 173.91 91.05 Td (the ) Tj ET Q q 0 0 0 rg BT 192.27 91.05 Td (per ) Tj ET Q q 0 0 0 rg BT 211.26 91.05 Td (kWh ) Tj ET Q q 0 0 0 rg BT 237.93 91.05 Td (cap ) Tj ET Q q 0 0 0 rg BT 258.20 91.05 Td (for ) Tj ET Q q 0 0 0 rg BT 275.92 91.05 Td (the ) Tj ET Q q 0 0 0 rg BT 294.29 91.05 Td (environmental ) Tj ET Q q 0 0 0 rg BT 365.02 91.05 Td (improvement ) Tj ET Q q 0 0 0 rg BT 430.66 91.05 Td (surchar) Tj ET Q q 0 0 0 rg BT 464.29 91.05 Td (ge ) Tj ET Q q 0 0 0 rg BT 479.46 91.05 Td (from ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 506.13 91.05 Td ($0.00016) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 549.25 91.05 Td ( ) Tj ET Q q 0 0 0 rg BT 553.56 91.05 Td (to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 77.25 Td ($0.00050) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 146.63 77.25 Td ( ) Tj ET Q q 0 0 0 rg BT 149.50 77.25 Td (and ) Tj ET Q q 0 0 0 rg BT 168.98 77.25 Td (the ) Tj ET Q q 0 0 0 rg BT 185.90 77.25 Td (addition ) Tj ET Q q 0 0 0 rg BT 226.47 77.25 Td (of ) Tj ET Q q 0 0 0 rg BT 238.92 77.25 Td (a ) Tj ET Q q 0 0 0 rg BT 246.90 77.25 Td (balancing ) Tj ET Q q 0 0 0 rg BT 294.48 77.25 Td (account;) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 63.45 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 63.45 Td (rate ) Tj ET Q q 0 0 0 rg BT 123.61 63.45 Td (design ) Tj ET Q q 0 0 0 rg BT 156.51 63.45 Td (changes, ) Tj ET Q q 0 0 0 rg BT 199.30 63.45 Td (including:) Tj ET Q endstream endobj 53 0 obj <> endobj 54 0 obj <> stream BT /F2 11.50 Tf ET q 0 0 0 rg BT 84.45 757.95 Td (COMBINED NOTES ) Tj ET Q q 0 0 0 rg BT 193.51 757.95 Td (T) Tj ET Q q 0 0 0 rg BT 200.97 757.95 Td (O CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 356.68 757.95 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 447.74 757.95 Td ( ST) Tj ET Q q 0 0 0 rg BT 463.82 757.95 Td (A) Tj ET Q q 0 0 0 rg BT 471.28 757.95 Td (TEMENTS) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 32.55 Td (24) Tj ET Q BT /F1 11.50 Tf ET /GS0 gs q 4.79 0 0 11.46 139.50 709.57 cm /I29 Do Q q 0 0 0 rg BT 144.29 712.05 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 157.50 712.05 Td (a ) Tj ET Q q 0 0 0 rg BT 165.29 712.05 Td (change ) Tj ET Q q 0 0 0 rg BT 200.54 712.05 Td (in ) Tj ET Q q 0 0 0 rg BT 212.17 712.05 Td (the ) Tj ET Q q 0 0 0 rg BT 228.91 712.05 Td (on-peak ) Tj ET Q q 0 0 0 rg BT 268.63 712.05 Td (time ) Tj ET Q q 0 0 0 rg BT 291.76 712.05 Td (of ) Tj ET Q q 0 0 0 rg BT 304.02 712.05 Td (use ) Tj ET Q q 0 0 0 rg BT 322.04 712.05 Td (period ) Tj ET Q q 0 0 0 rg BT 354.10 712.05 Td (from ) Tj ET Q q 0 0 0 rg BT 379.14 712.05 Td (noon ) Tj ET Q q 0 0 0 rg BT 404.83 712.05 Td (- ) Tj ET Q q 0 0 0 rg BT 411.34 712.05 Td (7 ) Tj ET Q q 0 0 0 rg BT 419.78 712.05 Td (p.m. ) Tj ET Q q 0 0 0 rg BT 442.91 712.05 Td (to ) Tj ET Q q 0 0 0 rg BT 454.54 712.05 Td (3 ) Tj ET Q q 0 0 0 rg BT 462.97 712.05 Td (p.m. ) Tj ET Q q 0 0 0 rg BT 486.11 712.05 Td (- ) Tj ET Q q 0 0 0 rg BT 492.62 712.05 Td (8 ) Tj ET Q q 0 0 0 rg BT 501.06 712.05 Td (p.m. ) Tj ET Q q 0 0 0 rg BT 524.19 712.05 Td (Monday ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 157.50 698.25 Td (through ) Tj ET Q q 0 0 0 rg BT 196.15 698.25 Td (Friday) Tj ET Q q 0 0 0 rg BT 225.43 698.25 Td (, ) Tj ET Q q 0 0 0 rg BT 231.18 698.25 Td (excluding ) Tj ET Q q 0 0 0 rg BT 279.40 698.25 Td (holidays; ) Tj ET Q BT /F1 11.50 Tf ET /GS0 gs q 4.79 0 0 11.46 139.50 681.97 cm /I30 Do Q q 0 0 0 rg BT 144.29 684.45 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 157.50 684.45 Td (non-grandfathered ) Tj ET Q q 0 0 0 rg BT 245.66 684.45 Td (distributed ) Tj ET Q q 0 0 0 rg BT 298.07 684.45 Td (generation ) Tj ET Q q 0 0 0 rg BT 349.83 684.45 Td (\("DG"\) ) Tj ET Q q 0 0 0 rg BT 386.71 684.45 Td (customers ) Tj ET Q q 0 0 0 rg BT 436.57 684.45 Td (would ) Tj ET Q q 0 0 0 rg BT 468.54 684.45 Td (be ) Tj ET Q q 0 0 0 rg BT 482.62 684.45 Td (required ) Tj ET Q q 0 0 0 rg BT 524.16 684.45 Td (to ) Tj ET Q q 0 0 0 rg BT 536.33 684.45 Td (select ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 157.50 670.65 Td (a ) Tj ET Q q 0 0 0 rg BT 166.27 670.65 Td (rate ) Tj ET Q q 0 0 0 rg BT 187.17 670.65 Td (option ) Tj ET Q q 0 0 0 rg BT 220.22 670.65 Td (that ) Tj ET Q q 0 0 0 rg BT 241.13 670.65 Td (has ) Tj ET Q q 0 0 0 rg BT 260.12 670.65 Td (time ) Tj ET Q q 0 0 0 rg BT 284.23 670.65 Td (of ) Tj ET Q q 0 0 0 rg BT 297.47 670.65 Td (use ) Tj ET Q q 0 0 0 rg BT 316.47 670.65 Td (rates ) Tj ET Q q 0 0 0 rg BT 341.84 670.65 Td (and ) Tj ET Q q 0 0 0 rg BT 362.11 670.65 Td (either ) Tj ET Q q 0 0 0 rg BT 391.95 670.65 Td (a ) Tj ET Q q 0 0 0 rg BT 400.72 670.65 Td (new ) Tj ET Q q 0 0 0 rg BT 423.54 670.65 Td (grid ) Tj ET Q q 0 0 0 rg BT 445.73 670.65 Td (access ) Tj ET Q q 0 0 0 rg BT 478.77 670.65 Td (char) Tj ET Q q 0 0 0 rg BT 498.35 670.65 Td (ge ) Tj ET Q q 0 0 0 rg BT 512.87 670.65 Td (or ) Tj ET Q q 0 0 0 rg BT 526.11 670.65 Td (demand ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 157.50 656.85 Td (component; ) Tj ET Q BT /F1 11.50 Tf ET /GS0 gs q 4.79 0 0 11.46 139.50 640.57 cm /I31 Do Q q 0 0 0 rg BT 144.29 643.05 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 157.50 643.05 Td (a ) Tj ET Q q 0 0 0 rg BT 164.75 643.05 Td (Resource ) Tj ET Q q 0 0 0 rg BT 209.67 643.05 Td (Comparison ) Tj ET Q q 0 0 0 rg BT 268.04 643.05 Td (Proxy ) Tj ET Q q 0 0 0 rg BT 297.65 643.05 Td (\(RCP\) ) Tj ET Q q 0 0 0 rg BT 339.40 643.05 Td (for ) Tj ET Q q 0 0 0 rg BT 354.95 643.05 Td (exported ) Tj ET Q q 0 0 0 rg BT 397.32 643.05 Td (ener) Tj ET Q q 0 0 0 rg BT 416.90 643.05 Td (gy ) Tj ET Q q 0 0 0 rg BT 430.54 643.05 Td (of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 442.26 643.05 Td (12.9 ) Tj ET Q q 0 0 0 rg BT 464.53 643.05 Td (cents) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 488.16 643.05 Td ( ) Tj ET Q q 0 0 0 rg BT 490.30 643.05 Td (per ) Tj ET Q q 0 0 0 rg BT 507.13 643.05 Td (kWh ) Tj ET Q q 0 0 0 rg BT 531.62 643.05 Td (in ) Tj ET Q q 0 0 0 rg BT 542.71 643.05 Td (year ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 157.50 629.25 Td (one; ) Tj ET Q q 0 0 0 rg BT 180.17 629.25 Td (and) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 615.45 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 615.45 Td (an ) Tj ET Q q 0 0 0 rg BT 117.63 615.45 Td (agreement ) Tj ET Q q 0 0 0 rg BT 168.79 615.45 Td (by ) Tj ET Q q 0 0 0 rg BT 182.85 615.45 Td (APS ) Tj ET Q q 0 0 0 rg BT 207.22 615.45 Td (not ) Tj ET Q q 0 0 0 rg BT 225.19 615.45 Td (to ) Tj ET Q q 0 0 0 rg BT 237.41 615.45 Td (pursue ) Tj ET Q q 0 0 0 rg BT 271.34 615.45 Td (any ) Tj ET Q q 0 0 0 rg BT 291.22 615.45 Td (new ) Tj ET Q q 0 0 0 rg BT 313.66 615.45 Td (self-build ) Tj ET Q q 0 0 0 rg BT 361.01 615.45 Td (generation ) Tj ET Q q 0 0 0 rg BT 412.81 615.45 Td (\(with ) Tj ET Q q 0 0 0 rg BT 440.37 615.45 Td (certain ) Tj ET Q q 0 0 0 rg BT 474.92 615.45 Td (exceptions\) ) Tj ET Q q 0 0 0 rg BT 531.21 615.45 Td (having ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 601.65 Td (an ) Tj ET Q q 0 0 0 rg BT 118.58 601.65 Td (in-service ) Tj ET Q q 0 0 0 rg BT 168.15 601.65 Td (date ) Tj ET Q q 0 0 0 rg BT 191.54 601.65 Td (prior ) Tj ET Q q 0 0 0 rg BT 218.12 601.65 Td (to ) Tj ET Q q 0 0 0 rg BT 231.29 601.65 Td (January ) Tj ET Q q 0 0 0 rg BT 271.29 601.65 Td (1, ) Tj ET Q q 0 0 0 rg BT 284.14 601.65 Td (2022 ) Tj ET Q q 0 0 0 rg BT 311.37 601.65 Td (\(extended ) Tj ET Q q 0 0 0 rg BT 360.94 601.65 Td (to ) Tj ET Q q 0 0 0 rg BT 374.12 601.65 Td (December ) Tj ET Q q 0 0 0 rg BT 425.59 601.65 Td (31, ) Tj ET Q q 0 0 0 rg BT 444.20 601.65 Td (2027 ) Tj ET Q q 0 0 0 rg BT 471.43 601.65 Td (for ) Tj ET Q q 0 0 0 rg BT 489.07 601.65 Td (combined-cycle ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 587.85 Td (generating ) Tj ET Q q 0 0 0 rg BT 154.91 587.85 Td (units\), ) Tj ET Q q 0 0 0 rg BT 186.85 587.85 Td (unless ) Tj ET Q q 0 0 0 rg BT 218.48 587.85 Td (expressly ) Tj ET Q q 0 0 0 rg BT 264.79 587.85 Td (authorized ) Tj ET Q q 0 0 0 rg BT 316.20 587.85 Td (by ) Tj ET Q q 0 0 0 rg BT 330.57 587.85 Td (the ) Tj ET Q q 0 0 0 rg BT 346.86 587.85 Td (ACC. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 560.25 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 560.25 Td (Through a separate agreement, ) Tj ET Q q 0 0 0 rg BT 229.51 560.25 Td (APS, industry representatives, and solar advocates committed to stand ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 546.45 Td (by the 2017 Settlement ) Tj ET Q q 0 0 0 rg BT 158.10 546.45 Td (Agreement and refrain from seeking to undermine it through ballot initiatives, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 532.65 Td (legislation or advocacy at the ) Tj ET Q q 0 0 0 rg BT 186.50 532.65 Td (ACC.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 505.05 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 505.05 Td (On ) Tj ET Q q 0 0 0 rg BT 101.80 505.05 Td (August 15, 2017, the ) Tj ET Q q 0 0 0 rg BT 200.19 505.05 Td (ACC approved \(by a vote of 4-1\), the 2017 Settlement ) Tj ET Q q 0 0 0 rg BT 452.82 505.05 Td (Agreement without ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 491.25 Td (material modifications. On ) Tj ET Q q 0 0 0 rg BT 178.21 491.25 Td (August 18, 2017, the ) Tj ET Q q 0 0 0 rg BT 276.60 491.25 Td (ACC issued a final written Opinion and Order reflecting its ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 477.45 Td (decision in ) Tj ET Q q 0 0 0 rg BT 101.89 477.45 Td (APS) Tj ET Q q 0 0 0 rg BT 126.18 477.45 Td (s general retail rate case \(the "2017 Rate Case Decision"\), which is subject to requests for ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 463.65 Td (rehearing and potential appeal. ) Tj ET Q q 0 0 0 rg BT 196.81 463.65 Td (The new rates went into ef) Tj ET Q q 0 0 0 rg BT 318.91 463.65 Td (fect on ) Tj ET Q q 0 0 0 rg BT 352.76 463.65 Td (August 19, 2017. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 436.05 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 436.05 Td (On January 3, 2018, an ) Tj ET Q q 0 0 0 rg BT 194.41 436.05 Td (APS customer filed a petition with the ) Tj ET Q q 0 0 0 rg BT 372.97 436.05 Td (ACC that was determined by the ) Tj ET Q q 0 0 0 rg BT 525.64 436.05 Td (ACC ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 422.25 Td (Staf) Tj ET Q q 0 0 0 rg BT 67.82 422.25 Td (f to be a complaint filed pursuant to ) Tj ET Q q 0 0 0 rg BT 234.53 422.25 Td (Arizona Revised Statute 40-246 \(the Complaint\). ) Tj ET Q q 0 0 0 rg BT 482.16 422.25 Td (The Complaint ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 408.45 Td (was later amended alleging that the rates and char) Tj ET Q q 0 0 0 rg BT 278.56 408.45 Td (ges in the 2017 Rate Case Decision are not just and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 394.65 Td (reasonable. ) Tj ET Q q 0 0 0 rg BT 107.09 394.65 Td (The ) Tj ET Q q 0 0 0 rg BT 127.21 394.65 Td (ACC held a hearing on this matter and the hearing was concluded on October 1, 2018. On ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 380.85 Td (April 9, 2019, the ) Tj ET Q q 0 0 0 rg BT 133.19 380.85 Td (Administrative Law Judge issued a Recommended Opinion and Order recommending that ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 367.05 Td (the Complaint be dismissed. On July 3, 2019, the ) Tj ET Q q 0 0 0 rg BT 281.09 367.05 Td (Administrative Law Judge issued an amendment to the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 353.25 Td (Recommended Opinion and Order that incorporated the requirements of the rate review of the 2017 Rate Case ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 339.45 Td (Decision \(see below discussion regarding the rate review\). On July 10, 2019, the ) Tj ET Q q 0 0 0 rg BT 425.40 339.45 Td (ACC adopted the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 325.65 Td (Administrative Law Judge's amended Recommended Opinion and Order along with several ) Tj ET Q q 0 0 0 rg BT 473.46 325.65 Td (ACC ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 311.85 Td (Commissioner amendments and an amendment incorporating the results of the rate review and resolved the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 298.05 Td (Complaint. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 271.05 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 271.05 Td (On December 24, 2018, certain ) Tj ET Q q 0 0 0 rg BT 232.08 271.05 Td (ACC Commissioners filed a letter stating that because the ) Tj ET Q q 0 0 0 rg BT 500.69 271.05 Td (ACC had ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 257.25 Td (received a substantial number of complaints that the rate increase authorized by the 2017 Rate Case Decision ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 243.45 Td (was much more than anticipated, they believe there is a possibility that ) Tj ET Q q 0 0 0 rg BT 377.49 243.45 Td (APS is earning more than was ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 229.65 Td (authorized by the 2017 Rate Case Decision. ) Tj ET Q q 0 0 0 rg BT 256.13 229.65 Td (Accordingly) Tj ET Q q 0 0 0 rg BT 312.87 229.65 Td (, the ) Tj ET Q q 0 0 0 rg BT 334.91 229.65 Td (ACC Commissioners requested the ) Tj ET Q q 0 0 0 rg BT 499.10 229.65 Td (ACC Staf) Tj ET Q q 0 0 0 rg BT 543.94 229.65 Td (f to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 215.85 Td (perform a rate review of ) Tj ET Q q 0 0 0 rg BT 163.49 215.85 Td (APS using calendar year 2018 as a test year) Tj ET Q q 0 0 0 rg BT 364.05 215.85 Td (. ) Tj ET Q q 0 0 0 rg BT 372.46 215.85 Td (The ) Tj ET Q q 0 0 0 rg BT 392.58 215.85 Td (ACC Commissioners also asked the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 202.05 Td (ACC Staf) Tj ET Q q 0 0 0 rg BT 94.34 202.05 Td (f to evaluate ) Tj ET Q q 0 0 0 rg BT 153.41 202.05 Td (APS) Tj ET Q q 0 0 0 rg BT 177.71 202.05 Td (s ef) Tj ET Q q 0 0 0 rg BT 193.78 202.05 Td (forts to educate its customers regarding the new rates approved in the 2017 ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 188.25 Td (Rate Case Decision. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 160.65 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 160.65 Td (On June 4, 2019, the ) Tj ET Q q 0 0 0 rg BT 182.93 160.65 Td (ACC Staf) Tj ET Q q 0 0 0 rg BT 227.76 160.65 Td (f filed a proposed order regarding the rate review of the 2017 Rate Case ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 146.85 Td (Decision. On June 1) Tj ET Q q 0 0 0 rg BT 145.21 146.85 Td (1, 2019, the ) Tj ET Q q 0 0 0 rg BT 201.75 146.85 Td (ACC Commissioners approved the proposed ) Tj ET Q q 0 0 0 rg BT 409.70 146.85 Td (ACC Staf) Tj ET Q q 0 0 0 rg BT 454.54 146.85 Td (f order with ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 133.05 Td (amendments. ) Tj ET Q q 0 0 0 rg BT 116.04 133.05 Td (The key provisions of the amended order include the following:) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 67.50 105.45 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 105.45 Td (APS must file a rate case no later than October 31, 2019, using a June 30, 2019 test-year;) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 67.50 91.65 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 91.65 Td (until the conclusion of the rate case being filed no later than October 31, 2019, ) Tj ET Q q 0 0 0 rg BT 449.25 91.65 Td (APS must provide ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 77.85 Td (information on customer bills that shows how much a customer would pay on their most economical ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 64.05 Td (rate given their actual usage during each month;) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 67.50 50.25 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 50.25 Td (APS customers can switch rate plans during an open enrollment period of six months;) Tj ET Q endstream endobj 55 0 obj <> endobj 56 0 obj <> stream BT /F2 11.50 Tf ET q 0 0 0 rg BT 84.45 757.95 Td (COMBINED NOTES ) Tj ET Q q 0 0 0 rg BT 193.51 757.95 Td (T) Tj ET Q q 0 0 0 rg BT 200.97 757.95 Td (O CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 356.68 757.95 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 447.74 757.95 Td ( ST) Tj ET Q q 0 0 0 rg BT 463.82 757.95 Td (A) Tj ET Q q 0 0 0 rg BT 471.28 757.95 Td (TEMENTS) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 32.55 Td (25) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 67.50 712.05 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 712.05 Td (APS must identify customers whose bills have increased by more than 9% and that are not on the most ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 698.25 Td (economical rate and provide such customers with tar) Tj ET Q q 0 0 0 rg BT 327.67 698.25 Td (geted education materials and an opportunity to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 684.45 Td (switch rate plans;) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 67.50 670.65 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 670.65 Td (APS must provide grandfathered net metering customers on legacy demand rates an opportunity to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 656.85 Td (switch to another legacy rate to enable such customers to fully benefit from legacy net metering rates;) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 67.50 643.05 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 643.05 Td (APS must fund and implement a supplemental customer education and outreach program to be ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 629.25 Td (developed with and administered by ) Tj ET Q q 0 0 0 rg BT 254.45 629.25 Td (ACC Staf) Tj ET Q q 0 0 0 rg BT 299.29 629.25 Td (f and a third-party consultant; and) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 67.50 615.45 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 615.45 Td (APS must fund and or) Tj ET Q q 0 0 0 rg BT 187.52 615.45 Td (ganize, along with the third-party consultant, a stakeholder group to suggest ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 601.65 Td (better ways to communicate the impact of changes to adjustor cost recovery mechanisms \(see below ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 587.85 Td (for discussion on cost recovery mechanisms\), including more ef) Tj ET Q q 0 0 0 rg BT 379.43 587.85 Td (fective ways to educate customers on ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 574.05 Td (rate plans and to reduce ener) Tj ET Q q 0 0 0 rg BT 217.16 574.05 Td (gy usage. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 546.45 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 546.45 Td (APS cannot predict the outcome or impact of the rate case filed on October 31, 2019. ) Tj ET Q q 0 0 0 rg BT 482.46 546.45 Td (APS does not ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 532.65 Td (believe that the implementation of the other key provisions of the amended order regarding the rate review will ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 518.85 Td (have a material impact on its financial position, results of operations or cash flows.) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 491.25 Td (Cost Recovery Mechanisms) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 477.45 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 463.65 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 463.65 Td (APS has received regulatory decisions that allow for more timely recovery of certain costs outside of a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 449.85 Td (general retail rate case through the following recovery mechanisms.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 436.05 Td () Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 85.50 422.25 Td (Renewable Energy Standard) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 220.96 422.25 Td (.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 223.83 422.25 Td ( In 2006, the ) Tj ET Q q 0 0 0 rg BT 287.08 422.25 Td (ACC approved the RES. Under the RES, electric utilities ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 408.45 Td (that are regulated by the ) Tj ET Q q 0 0 0 rg BT 162.86 408.45 Td (ACC must supply an increasing percentage of their retail electric ener) Tj ET Q q 0 0 0 rg BT 483.90 408.45 Td (gy sales from ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 394.65 Td (eligible renewable resources, including solar) Tj ET Q q 0 0 0 rg BT 254.37 394.65 Td (, wind, biomass, biogas and geothermal technologies. In order to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 380.85 Td (achieve these requirements, the ) Tj ET Q q 0 0 0 rg BT 196.07 380.85 Td (ACC allows ) Tj ET Q q 0 0 0 rg BT 254.86 380.85 Td (APS to include a RES surchar) Tj ET Q q 0 0 0 rg BT 392.95 380.85 Td (ge as part of customer bills to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 367.05 Td (recover the approved amounts for use on renewable ener) Tj ET Q q 0 0 0 rg BT 309.85 367.05 Td (gy projects. Each year ) Tj ET Q q 0 0 0 rg BT 417.14 367.05 Td (APS is required to file a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 530.85 367.05 Td (five) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 548.73 367.05 Td (-) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 353.25 Td (year implementation plan with the ) Tj ET Q q 0 0 0 rg BT 209.51 353.25 Td (ACC and seek approval for funding the upcoming year) Tj ET Q q 0 0 0 rg BT 462.87 353.25 Td () Tj ET Q q 0 0 0 rg BT 466.06 353.25 Td (s RES budget. In ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 339.45 Td (2015, the ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 95.17 339.45 Td (ACC revised the R) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 178.58 339.45 Td (ES rules to allow the ) Tj ET Q q 0 0 0 rg BT 276.64 339.45 Td (ACC to consider all available information, including the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 325.65 Td (number of rooftop solar arrays in a utility) Tj ET Q q 0 0 0 rg BT 243.36 325.65 Td (s service territory) Tj ET Q q 0 0 0 rg BT 323.08 325.65 Td (, to determine compliance with the RES. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 298.05 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 298.05 Td (On November 20, 2017, ) Tj ET Q q 0 0 0 rg BT 199.21 298.05 Td (APS filed an updated 2018 RES budget to include budget adjustments for ) Tj ET Q q 0 0 0 rg BT 540.34 298.05 Td (APS ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 284.25 Td (Solar Communities \(formerly known as ) Tj ET Q q 0 0 0 rg BT 234.44 284.25 Td (AZ Sun II\), which was approved as part of the 2017 Rate Case ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 270.45 Td (Decision. ) Tj ET Q q 0 0 0 rg BT 98.37 270.45 Td (APS Solar Communities is a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 232.87 270.45 Td (3) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 238.62 270.45 Td (-year program authorizing ) Tj ET Q q 0 0 0 rg BT 361.56 270.45 Td (APS to spend ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 427.06 270.45 Td ($10 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 480.41 270.45 Td ( to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 495.11 270.45 Td ($15 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 548.46 270.45 Td ( in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 256.65 Td (capital costs each year to install utility-owned DG systems for low to moderate income residential homes, non-) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 242.85 Td (profit entities, ) Tj ET Q q 0 0 0 rg BT 116.68 242.85 Td (T) Tj ET Q q 0 0 0 rg BT 123.30 242.85 Td (itle I schools and rural government facilities. ) Tj ET Q q 0 0 0 rg BT 334.83 242.85 Td (The 2017 Rate Case Decision provided that all ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 229.05 Td (operations and maintenance expenses, property taxes, marketing and advertising expenses, and the capital ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 215.25 Td (carrying costs for this program will be recovered through the RES. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 187.65 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 187.65 Td (On June 29, 2018, ) Tj ET Q q 0 0 0 rg BT 171.75 187.65 Td (APS filed its 2019 RES Implementation Plan and proposed a budget of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 173.85 Td (approximately ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 118.80 173.85 Td ($89.9 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 180.78 173.85 Td (. ) Tj ET Q q 0 0 0 rg BT 188.77 173.85 Td (APS) Tj ET Q q 0 0 0 rg BT 213.06 173.85 Td (s budget request supports existing approved projects and commitments and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 160.05 Td (requests a permanent waiver of the residential distributed ener) Tj ET Q q 0 0 0 rg BT 335.41 160.05 Td (gy requirement for 2019 contained in the RES ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 146.25 Td (rules. On October 29, 2019, the ) Tj ET Q q 0 0 0 rg BT 199.61 146.25 Td (ACC approved the 2019 RES Implementation Plan including a waiver of the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 132.45 Td (residential distributed ener) Tj ET Q q 0 0 0 rg BT 171.92 132.45 Td (gy requirements for the 2019 implementation year) Tj ET Q q 0 0 0 rg BT 402.50 132.45 Td (.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 118.65 Td ( ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 104.85 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 104.85 Td (On July 1, 2019, ) Tj ET Q q 0 0 0 rg BT 164.09 104.85 Td (APS filed its 2020 RES Implementation Plan and proposed a budget of approximately ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 91.05 Td ($86.3 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 111.48 91.05 Td (. ) Tj ET Q q 0 0 0 rg BT 119.47 91.05 Td (APS) Tj ET Q q 0 0 0 rg BT 143.76 91.05 Td (s budget request supports existing approved projects and commitments and requests a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 77.25 Td (permanent waiver of the residential distributed ener) Tj ET Q q 0 0 0 rg BT 286.87 77.25 Td (gy requirement for 2020 contained in the RES rules. ) Tj ET Q q 0 0 0 rg BT 532.90 77.25 Td (The ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 63.45 Td (ACC has not yet ruled on the 2020 RES Implementation Plan.) Tj ET Q endstream endobj 57 0 obj <> endobj 58 0 obj <> stream BT /F2 11.50 Tf ET q 0 0 0 rg BT 84.45 757.95 Td (COMBINED NOTES ) Tj ET Q q 0 0 0 rg BT 193.51 757.95 Td (T) Tj ET Q q 0 0 0 rg BT 200.97 757.95 Td (O CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 356.68 757.95 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 447.74 757.95 Td ( ST) Tj ET Q q 0 0 0 rg BT 463.82 757.95 Td (A) Tj ET Q q 0 0 0 rg BT 471.28 757.95 Td (TEMENTS) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 32.55 Td (26) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 712.05 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 712.05 Td (On July 2, 2019, ) Tj ET Q q 0 0 0 rg BT 164.09 712.05 Td (ACC Staf) Tj ET Q q 0 0 0 rg BT 208.93 712.05 Td (f issued draft rules, which propose a RES goal of 45% of retail ener) Tj ET Q q 0 0 0 rg BT 519.78 712.05 Td (gy ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 698.25 Td (served be renewables by 2035 and a goal of 20% of retail sales during peak demand to be from clean ener) Tj ET Q q 0 0 0 rg BT 535.95 698.25 Td (gy ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 684.45 Td (resources by 2035. ) Tj ET Q q 0 0 0 rg BT 141.59 684.45 Td (The draft rules would also require a certain amount of the RES goal to be derived from ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 670.65 Td (distributed renewable storage, for which utilities would be required to of) Tj ET Q q 0 0 0 rg BT 383.03 670.65 Td (fer performance-based incentives. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 656.85 Td (Nuclear ener) Tj ET Q q 0 0 0 rg BT 108.35 656.85 Td (gy would be considered a clean resource under the draft rules. On February 18, 2020, ) Tj ET Q q 0 0 0 rg BT 505.94 656.85 Td (ACC Staf) Tj ET Q q 0 0 0 rg BT 550.78 656.85 Td (f ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 643.05 Td (issued revised draft rules which would change the RES and clean ener) Tj ET Q q 0 0 0 rg BT 372.15 643.05 Td (gy goals to standards and would provide ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 629.25 Td (additional reporting and compliance requirements. Certain ) Tj ET Q q 0 0 0 rg BT 320.63 629.25 Td (ACC Commissioners have proposed dif) Tj ET Q q 0 0 0 rg BT 503.77 629.25 Td (ferent ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 615.45 Td (options with dif) Tj ET Q q 0 0 0 rg BT 122.13 615.45 Td (ferent implementation dates of these rules. ) Tj ET Q q 0 0 0 rg BT 322.68 615.45 Td (APS cannot predict the outcome of this matter) Tj ET Q q 0 0 0 rg BT 535.07 615.45 Td (. See ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 601.65 Td ("Ener) Tj ET Q q 0 0 0 rg BT 75.70 601.65 Td (gy Modernization Plan" below for more information.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 574.05 Td ( ) Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 85.50 574.05 Td (Demand Side Management ) Tj ET Q q 0 0 0 rg BT 217.01 574.05 Td (Adjustor Charge) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 295.94 574.05 Td (.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 298.82 574.05 Td ( ) Tj ET Q q 0 0 0 rg BT 304.36 574.05 Td (The ) Tj ET Q q 0 0 0 rg BT 324.48 574.05 Td (ACC Electric Ener) Tj ET Q q 0 0 0 rg BT 411.13 574.05 Td (gy Ef) Tj ET Q q 0 0 0 rg BT 436.15 574.05 Td (ficiency Standards require ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 560.25 Td (APS to submit a Demand Side Management Implementation Plan \("DSM Plan"\) annually for review by and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 546.45 Td (approval of the ) Tj ET Q q 0 0 0 rg BT 121.35 546.45 Td (ACC. ) Tj ET Q q 0 0 0 rg BT 153.42 546.45 Td (V) Tj ET Q q 0 0 0 rg BT 160.45 546.45 Td (erified ener) Tj ET Q q 0 0 0 rg BT 212.91 546.45 Td (gy savings from ) Tj ET Q q 0 0 0 rg BT 289.26 546.45 Td (APS's resource savings projects can be counted toward ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 532.65 Td (compliance with the Electric Ener) Tj ET Q q 0 0 0 rg BT 205.75 532.65 Td (gy Ef) Tj ET Q q 0 0 0 rg BT 230.78 532.65 Td (ficiency Standards; however) Tj ET Q q 0 0 0 rg BT 361.24 532.65 Td (, ) Tj ET Q q 0 0 0 rg BT 366.36 532.65 Td (APS is not allowed to count savings from ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 518.85 Td (systems savings projects toward determination of the achievement of performance incentives, nor may ) Tj ET Q q 0 0 0 rg BT 523.42 518.85 Td (APS ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 505.05 Td (include savings from these system savings projects in the calculation of its Lost Fixed Cost Recovery ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 491.25 Td (\(LFCR\) mechanism \(see below for discussion of the LFCR\).) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 463.65 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 463.65 Td (On September 1, 2017, ) Tj ET Q q 0 0 0 rg BT 194.10 463.65 Td (APS filed its 2018 DSM Plan, which proposes modifications to the demand ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 449.85 Td (side management portfolio to better meet system and customer needs by focusing on peak demand reductions, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 436.05 Td (storage, load shifting and demand response programs in addition to traditional ener) Tj ET Q q 0 0 0 rg BT 431.26 436.05 Td (gy savings measures. ) Tj ET Q q 0 0 0 rg BT 531.34 436.05 Td (The ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 422.25 Td (2018 DSM Plan seeks a requested budget of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 255.83 422.25 Td ($52.6 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 317.81 422.25 Td ( and requests a waiver of the ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 452.24 422.25 Td (Electric Ener) Tj ET Q q 0 0 0 rg BT 509.76 422.25 Td (gy ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 408.45 Td (Ef) Tj ET Q q 0 0 0 rg BT 60.15 408.45 Td (ficiency Standard for 2018. On November 14, 2017, ) Tj ET Q q 0 0 0 rg BT 308.30 408.45 Td (APS filed an amended 2018 DSM Plan, which revised ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 394.65 Td (the allocations between budget items to address customer participation levels, but kept the overall budget at ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 380.85 Td ($52.6 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 111.48 380.85 Td (. ) Tj ET Q q 0 0 0 rg BT 117.02 380.85 Td (The ) Tj ET Q q 0 0 0 rg BT 137.14 380.85 Td (ACC has not yet ruled on the ) Tj ET Q q 0 0 0 rg BT 273.53 380.85 Td (APS 2018 amended DSM Plan.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 353.25 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 353.25 Td (On December 31, 2018, ) Tj ET Q q 0 0 0 rg BT 197.92 353.25 Td (APS filed its 2019 DSM Plan, which requests a budget of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 465.60 353.25 Td ($34.1 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 527.58 353.25 Td ( and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 339.45 Td (continues ) Tj ET Q q 0 0 0 rg BT 95.82 339.45 Td (APS's focus on DSM strategies such as peak demand reduction, load shifting, storage and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 325.65 Td (electrification strategies. ) Tj ET Q q 0 0 0 rg BT 168.08 325.65 Td (The ) Tj ET Q q 0 0 0 rg BT 188.20 325.65 Td (ACC has not yet ruled on the ) Tj ET Q q 0 0 0 rg BT 324.59 325.65 Td (APS 2019 DSM Plan.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 298.05 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 298.05 Td (On December 31, 2019, ) Tj ET Q q 0 0 0 rg BT 197.92 298.05 Td (APS filed its 2020 DSM Plan, which requests a budget of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 465.60 298.05 Td ($51.9 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 527.58 298.05 Td ( and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 284.25 Td (continues ) Tj ET Q q 0 0 0 rg BT 95.82 284.25 Td (APS's focus on DSM strategies such as peak demand reduction, load shifting, storage and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 270.45 Td (electrification strategies. ) Tj ET Q q 0 0 0 rg BT 168.08 270.45 Td (The 2020 DSM Plan addresses all components of the 2018 and 2019 DSM plans, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 256.65 Td (which enables the ) Tj ET Q q 0 0 0 rg BT 134.13 256.65 Td (ACC to review the 2020 DSM Plan only) Tj ET Q q 0 0 0 rg BT 320.26 256.65 Td (. ) Tj ET Q q 0 0 0 rg BT 328.67 256.65 Td (The ) Tj ET Q q 0 0 0 rg BT 348.79 256.65 Td (ACC has not yet ruled on the ) Tj ET Q q 0 0 0 rg BT 485.19 256.65 Td (APS 2020 DSM ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 242.85 Td (Plan.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 215.25 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 215.25 Td (On ) Tj ET Q q 0 0 0 rg BT 101.80 215.25 Td (April 17, 2020, ) Tj ET Q q 0 0 0 rg BT 174.31 215.25 Td (APS filed an application with the ) Tj ET Q q 0 0 0 rg BT 329.54 215.25 Td (ACC requesting a COVID-19 emer) Tj ET Q q 0 0 0 rg BT 492.22 215.25 Td (gency relief ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 201.45 Td (package to provide additional assistance to its customers. On May 5, 2020, the ) Tj ET Q q 0 0 0 rg BT 415.84 201.45 Td (ACC approved ) Tj ET Q q 0 0 0 rg BT 487.39 201.45 Td (APS returning ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 187.65 Td ($36 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 102.85 187.65 Td ( that has been collected through the DSM ) Tj ET Q q 0 0 0 rg BT 295.76 187.65 Td (Adjustor Clause, but not allocated for current DSM ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 173.85 Td (programs, directly to customers through a bill credit in June 2020. See "COVID-19 Pandemic" above for more ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 160.05 Td (information.) Tj ET Q endstream endobj 59 0 obj <> endobj 60 0 obj <> stream BT /F2 11.50 Tf ET q 0 0 0 rg BT 84.45 757.95 Td (COMBINED NOTES ) Tj ET Q q 0 0 0 rg BT 193.51 757.95 Td (T) Tj ET Q q 0 0 0 rg BT 200.97 757.95 Td (O CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 356.68 757.95 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 447.74 757.95 Td ( ST) Tj ET Q q 0 0 0 rg BT 463.82 757.95 Td (A) Tj ET Q q 0 0 0 rg BT 471.28 757.95 Td (TEMENTS) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 32.55 Td (27) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 712.05 Td ( ) Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 91.25 712.05 Td (Power Supply ) Tj ET Q q 0 0 0 rg BT 159.19 712.05 Td (Adjustor Mechanism and Balance.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 326.93 712.05 Td ( ) Tj ET Q q 0 0 0 rg BT 329.60 712.05 Td (The PSA) Tj ET Q q 0 0 0 rg BT 370.82 712.05 Td ( provides for the adjustment of retail ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 698.25 Td (rates to reflect variations primarily in retail fuel and purchased power costs. ) Tj ET Q q 0 0 0 rg BT 403.12 698.25 Td (The following table shows the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 684.45 Td (changes in the deferred fuel and purchased power regulatory asset for 2020 and 2019 \(dollars in thousands\):) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 670.65 Td () Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 619.15 379.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.00 619.15 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.00 619.15 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 619.15 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 587.15 379.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.00 587.15 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.00 587.15 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 587.15 65.00 -16.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 634.15 m 494 634.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494 634.15 m 498 634.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 634.15 m 563 634.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 634.15 m 494 634.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 619.15 m 494 619.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 634.15 m 563 634.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 619.15 m 563 619.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 619.15 m 494 619.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 619.15 m 563 619.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 571.15 m 494 571.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 571.15 m 563 571.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 571.15 m 494 571.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 556.15 m 494 556.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 554.15 m 494 554.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 571.15 m 563 571.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 556.15 m 563 556.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 554.15 m 563 554.15 l s BT /F2 11.00 Tf ET q 0 0 0 rg BT 52.50 639.05 Td () Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 445.45 650.05 Td (Thr) Tj ET Q q 0 0 0 rg BT 463.69 650.05 Td (ee Months Ended) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 471.45 639.05 Td (Mar) Tj ET Q q 0 0 0 rg BT 492.12 639.05 Td (ch 31,) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 52.50 624.05 Td () Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 450.00 624.05 Td (2020) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 519.00 624.05 Td (2019) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 52.50 609.02 Td (Beginning balance) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 431.50 608.07 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 459.50 608.07 Td (70,137) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 500.50 608.07 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 528.50 608.07 Td (37,164) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 52.50 593.02 Td (Deferred fuel and purchased power costs current period) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 465.05 592.07 Td (5,785) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 524.85 592.07 Td (\(16,709) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 558.80 592.07 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 52.50 577.02 Td (Amounts char) Tj ET Q q 0 0 0 rg BT 114.42 577.02 Td (ged to customers) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 465.05 576.07 Td (1,808) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 524.85 576.07 Td (\(12,872) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 558.80 576.07 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 52.50 561.02 Td (Ending balance) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 431.50 560.07 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 459.50 560.07 Td (77,730) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 500.50 560.07 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 534.05 560.07 Td (7,583) Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 541.85 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 528.05 Td (The PSA) Tj ET Q q 0 0 0 rg BT 126.72 528.05 Td ( rate for the PSA) Tj ET Q q 0 0 0 rg BT 203.37 528.05 Td ( year beginning February 1, 2018 is ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 370.09 528.05 Td ($0.004555) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 418.97 528.05 Td ( per kWh, consisting of a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 514.25 Td (forward component of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 155.20 514.25 Td ($0.002009) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 204.08 514.25 Td ( per kWh and a historical component of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 389.30 514.25 Td ($0.002546) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 438.17 514.25 Td ( per kWh. ) Tj ET Q q 0 0 0 rg BT 489.38 514.25 Td (This ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 500.45 Td (represented a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 113.35 500.45 Td ($0.004) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 144.98 500.45 Td ( per kWh increase over the ) Tj ET Q q 0 0 0 rg BT 270.78 500.45 Td (August 19, 2017 PSA, the maximum permitted under the Plan ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 486.65 Td (of ) Tj ET Q q 0 0 0 rg BT 61.32 486.65 Td (Administration for the PSA. ) Tj ET Q q 0 0 0 rg BT 196.56 486.65 Td (This left ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 238.08 486.65 Td ($16.4 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.05 486.65 Td ( of 2017 fuel and purchased power costs above this ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 472.85 Td (annual cap. ) Tj ET Q q 0 0 0 rg BT 104.53 472.85 Td (These costs rolled over into the following year and were reflected in the 2019 reset of the PSA. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 445.25 Td ( ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 85.50 445.25 Td (The PSA) Tj ET Q q 0 0 0 rg BT 124.92 445.25 Td ( rate for the PSA) Tj ET Q q 0 0 0 rg BT 198.24 445.25 Td ( year beginning February 1, 2019 was ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 367.48 445.25 Td ($0.001658) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 416.36 445.25 Td ( per kWh) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 459.15 445.25 Td (, consisting of a ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 431.45 Td (Forward Component of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 155.51 431.45 Td ($0.000536) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 204.39 431.45 Td ( per kWh and a Historical Component of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 394.73 431.45 Td ($0.001) Tj ET Q q 0 0 0 rg BT 425.93 431.45 Td (122) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 443.18 431.45 Td ( per kWh. ) Tj ET Q q 0 0 0 rg BT 494.39 431.45 Td (This ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 417.65 Td (represented a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 113.35 417.65 Td ($0.002897) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 162.23 417.65 Td ( per kWh decrease compared to 2018. ) Tj ET Q q 0 0 0 rg BT 341.79 417.65 Td (These rates went into ef) Tj ET Q q 0 0 0 rg BT 451.44 417.65 Td (fect as filed on ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 403.85 Td (February 1, 2019.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 376.25 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 376.25 Td (On November 27, 2019, ) Tj ET Q q 0 0 0 rg BT 199.21 376.25 Td (APS filed its PSA) Tj ET Q q 0 0 0 rg BT 281.34 376.25 Td ( rate for the PSA) Tj ET Q q 0 0 0 rg BT 357.99 376.25 Td ( year beginning February 1, 2020. ) Tj ET Q q 0 0 0 rg BT 519.71 376.25 Td (That rate ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 362.45 Td (was $\() Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 79.84 362.45 Td (0.000456) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 122.96 362.45 Td (\) per kWh and consisted of a Forward Component of $\() Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 378.46 362.45 Td (0.002086) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 421.59 362.45 Td (\) per kWh and a Historical ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 348.65 Td (Component of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 118.50 348.65 Td ($0.001630) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 167.37 348.65 Td ( per kWh. ) Tj ET Q q 0 0 0 rg BT 218.58 348.65 Td (The 2020 PSA) Tj ET Q q 0 0 0 rg BT 285.67 348.65 Td ( rate is a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 327.18 348.65 Td ($0.0021) Tj ET Q q 0 0 0 rg BT 364.13 348.65 Td (15) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 375.63 348.65 Td ( per kWh decrease compared to the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 334.85 Td (2019 PSA) Tj ET Q q 0 0 0 rg BT 95.84 334.85 Td ( year) Tj ET Q q 0 0 0 rg BT 117.87 334.85 Td (. ) Tj ET Q q 0 0 0 rg BT 126.28 334.85 Td (These rates went into ef) Tj ET Q q 0 0 0 rg BT 235.93 334.85 Td (fect as filed on February 1, 2020.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 307.25 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 307.25 Td (On March 15, 2019, ) Tj ET Q q 0 0 0 rg BT 180.69 307.25 Td (APS filed an application with the ) Tj ET Q q 0 0 0 rg BT 335.92 307.25 Td (ACC requesting approval to recover the costs ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 293.45 Td (related to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 95.48 293.45 Td (two) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 112.73 293.45 Td ( ener) Tj ET Q q 0 0 0 rg BT 135.19 293.45 Td (gy storage power purchase tolling agreements through the PSA. ) Tj ET Q q 0 0 0 rg BT 434.24 293.45 Td (This application is pending ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 279.65 Td (with the ) Tj ET Q q 0 0 0 rg BT 89.11 279.65 Td (ACC. ) Tj ET Q q 0 0 0 rg BT 120.75 279.65 Td (APS cannot predict the outcome of this matter) Tj ET Q q 0 0 0 rg BT 333.14 279.65 Td (.) Tj ET Q BT /F4 11.00 Tf ET q 0 0 0 rg BT 49.50 252.05 Td ( ) Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 85.50 252.05 Td (Environmental Improvement Surcharge.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 278.79 252.05 Td ( ) Tj ET Q q 0 0 0 rg BT 284.34 252.05 Td (The EIS permits ) Tj ET Q q 0 0 0 rg BT 361.95 252.05 Td (APS to recover the capital carrying costs ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 238.25 Td (\(rate of return, depreciation and taxes\) plus incremental operations and maintenance expenses associated with ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 224.45 Td (environmental improvements made outside of a test year to comply with environmental standards set by ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 210.65 Td (federal, state, tribal, or local laws and regulations. ) Tj ET Q q 0 0 0 rg BT 284.22 210.65 Td (A) Tj ET Q q 0 0 0 rg BT 291.89 210.65 Td ( filing is made on or before February 1st for qualified ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 196.85 Td (environmental improvements made during the prior calendar year) Tj ET Q q 0 0 0 rg BT 351.45 196.85 Td (, and the new char) Tj ET Q q 0 0 0 rg BT 435.22 196.85 Td (ge becomes ef) Tj ET Q q 0 0 0 rg BT 500.78 196.85 Td (fective ) Tj ET Q q 0 0 0 rg BT 534.31 196.85 Td (April ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 183.05 Td (1 unless suspended by the ) Tj ET Q q 0 0 0 rg BT 171.20 183.05 Td (ACC. ) Tj ET Q q 0 0 0 rg BT 203.27 183.05 Td (There is an overall cap of $0.0005 per kWh \(approximately $13 - 14 million ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 169.25 Td (per year\). ) Tj ET Q q 0 0 0 rg BT 98.67 169.25 Td (APS) Tj ET Q q 0 0 0 rg BT 122.96 169.25 Td (s February 1, 2020 application requested an increase in the char) Tj ET Q q 0 0 0 rg BT 415.58 169.25 Td (ge to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 441.13 169.25 Td ($8.75 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 503.11 169.25 Td (, or ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 521.31 169.25 Td ($2.0 ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 155.45 Td (million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 82.73 155.45 Td ( over the char) Tj ET Q q 0 0 0 rg BT 145.42 155.45 Td (ge in ef) Tj ET Q q 0 0 0 rg BT 179.69 155.45 Td (fect for the 2019-2020 rate ef) Tj ET Q q 0 0 0 rg BT 314.55 155.45 Td (fective year) Tj ET Q q 0 0 0 rg BT 367.86 155.45 Td (. On March 19, 2020, due to the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 141.65 Td (COVID-19 pandemic, ) Tj ET Q q 0 0 0 rg BT 153.94 141.65 Td (APS delayed the reset of the EIS adjustor to the first billing cycle in May 2020 rather ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 127.85 Td (than ) Tj ET Q q 0 0 0 rg BT 71.54 127.85 Td (April 2020.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 114.05 Td () Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 85.50 100.25 Td (T) Tj ET Q q 0 0 0 rg BT 92.10 100.25 Td (ransmission Rates, T) Tj ET Q q 0 0 0 rg BT 191.05 100.25 Td (ransmission Cost ) Tj ET Q q 0 0 0 rg BT 274.99 100.25 Td (Adjustor \("TCA"\) and Other T) Tj ET Q q 0 0 0 rg BT 422.17 100.25 Td (ransmission Matters) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 518.99 100.25 Td (.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 524.74 100.25 Td ( In ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 86.45 Td (July2008, FERC approved a modification to ) Tj ET Q q 0 0 0 rg BT 258.40 86.45 Td (APS) Tj ET Q q 0 0 0 rg BT 282.69 86.45 Td (s Open ) Tj ET Q q 0 0 0 rg BT 317.20 86.45 Td (Access ) Tj ET Q q 0 0 0 rg BT 352.43 86.45 Td (T) Tj ET Q q 0 0 0 rg BT 359.05 86.45 Td (ransmission ) Tj ET Q q 0 0 0 rg BT 416.67 86.45 Td (T) Tj ET Q q 0 0 0 rg BT 422.89 86.45 Td (arif) Tj ET Q q 0 0 0 rg BT 438.64 86.45 Td (f to allow ) Tj ET Q q 0 0 0 rg BT 484.96 86.45 Td (APS to move ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 72.65 Td (from fixed rates to a formula rate-setting methodology in order to more accurately reflect and recover the costs ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 58.85 Td (that ) Tj ET Q q 0 0 0 rg BT 68.99 58.85 Td (APS incurs in providing transmission services. ) Tj ET Q q 0 0 0 rg BT 289.40 58.85 Td (A) Tj ET Q q 0 0 0 rg BT 297.07 58.85 Td ( lar) Tj ET Q q 0 0 0 rg BT 311.87 58.85 Td (ge portion of the rate represents char) Tj ET Q q 0 0 0 rg BT 480.26 58.85 Td (ges for ) Tj ET Q endstream endobj 61 0 obj <> endobj 62 0 obj <> stream BT /F2 11.50 Tf ET q 0 0 0 rg BT 84.45 757.95 Td (COMBINED NOTES ) Tj ET Q q 0 0 0 rg BT 193.51 757.95 Td (T) Tj ET Q q 0 0 0 rg BT 200.97 757.95 Td (O CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 356.68 757.95 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 447.74 757.95 Td ( ST) Tj ET Q q 0 0 0 rg BT 463.82 757.95 Td (A) Tj ET Q q 0 0 0 rg BT 471.28 757.95 Td (TEMENTS) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 32.55 Td (28) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 712.05 Td (transmission services to serve ) Tj ET Q q 0 0 0 rg BT 188.76 712.05 Td (APS's retail customers \("Retail ) Tj ET Q q 0 0 0 rg BT 333.94 712.05 Td (T) Tj ET Q q 0 0 0 rg BT 340.56 712.05 Td (ransmission Char) Tj ET Q q 0 0 0 rg BT 420.53 712.05 Td (ges"\). In order to recover the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 698.25 Td (Retail ) Tj ET Q q 0 0 0 rg BT 79.63 698.25 Td (T) Tj ET Q q 0 0 0 rg BT 86.25 698.25 Td (ransmission Char) Tj ET Q q 0 0 0 rg BT 166.22 698.25 Td (ges, ) Tj ET Q q 0 0 0 rg BT 186.67 698.25 Td (APS was previously required to file an application with, and obtain approval ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 684.45 Td (from, the ) Tj ET Q q 0 0 0 rg BT 93.90 684.45 Td (ACC to reflect changes in Retail ) Tj ET Q q 0 0 0 rg BT 246.34 684.45 Td (T) Tj ET Q q 0 0 0 rg BT 252.96 684.45 Td (ransmission Char) Tj ET Q q 0 0 0 rg BT 332.93 684.45 Td (ges through the ) Tj ET Q q 0 0 0 rg BT 406.50 684.45 Td (TCA. Under the terms of the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 670.65 Td (settlement agreement entered into in 2012 regarding ) Tj ET Q q 0 0 0 rg BT 291.88 670.65 Td (APS's rate case \("2012 Settlement ) Tj ET Q q 0 0 0 rg BT 451.00 670.65 Td (Agreement"\), however) Tj ET Q q 0 0 0 rg BT 555.50 670.65 Td (, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 656.85 Td (an adjustment to rates to recover the Retail ) Tj ET Q q 0 0 0 rg BT 249.20 656.85 Td (T) Tj ET Q q 0 0 0 rg BT 255.82 656.85 Td (ransmission Char) Tj ET Q q 0 0 0 rg BT 335.79 656.85 Td (ges will be made annually each June1 and will ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 643.05 Td (go into ef) Tj ET Q q 0 0 0 rg BT 93.37 643.05 Td (fect automatically unless suspended by the ) Tj ET Q q 0 0 0 rg BT 292.02 643.05 Td (ACC.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 629.25 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 615.45 Td (The formula rate is updated each year ef) Tj ET Q q 0 0 0 rg BT 270.80 615.45 Td (fective June1 on the basis of ) Tj ET Q q 0 0 0 rg BT 406.53 615.45 Td (APS's actual cost of service, as ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 601.65 Td (disclosed in ) Tj ET Q q 0 0 0 rg BT 106.36 601.65 Td (APS's FERC Form1 report for the previous fiscal year) Tj ET Q q 0 0 0 rg BT 357.90 601.65 Td (. Items to be updated include actual capital ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 587.85 Td (expenditures made as compared with previous projections, transmission revenue credits and other items. ) Tj ET Q q 0 0 0 rg BT 535.37 587.85 Td (The ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 574.05 Td (resolution of proposed adjustments can result in significant volatility in the revenues to be collected. ) Tj ET Q q 0 0 0 rg BT 516.11 574.05 Td (APS ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 560.25 Td (reviews the proposed formula rate filing amounts with the ) Tj ET Q q 0 0 0 rg BT 318.73 560.25 Td (ACC Staf) Tj ET Q q 0 0 0 rg BT 363.57 560.25 Td (f. ) Tj ET Q q 0 0 0 rg BT 375.39 560.25 Td (Any items or adjustments which are not ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 546.45 Td (agreed to by ) Tj ET Q q 0 0 0 rg BT 108.58 546.45 Td (APS and the ) Tj ET Q q 0 0 0 rg BT 168.32 546.45 Td (ACC Staf) Tj ET Q q 0 0 0 rg BT 213.16 546.45 Td (f can remain in dispute until settled or litigated at FERC. Settlement or ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 532.65 Td (litigated resolution of disputed issues could require an extended period of time and could have a significant ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 518.85 Td (ef) Tj ET Q q 0 0 0 rg BT 58.23 518.85 Td (fect on the Retail ) Tj ET Q q 0 0 0 rg BT 139.77 518.85 Td (T) Tj ET Q q 0 0 0 rg BT 146.39 518.85 Td (ransmission Char) Tj ET Q q 0 0 0 rg BT 226.36 518.85 Td (ges because any adjustment, though applied prospectively) Tj ET Q q 0 0 0 rg BT 492.28 518.85 Td (, may be ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 505.05 Td (calculated to account for previously over) Tj ET Q q 0 0 0 rg BT 237.35 505.05 Td (- or under) Tj ET Q q 0 0 0 rg BT 282.46 505.05 Td (-collected amounts. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 477.45 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 477.45 Td (On March 7, 2018, ) Tj ET Q q 0 0 0 rg BT 174.94 477.45 Td (APS made a filing to make modifications to its annual transmission formula to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 463.65 Td (provide transmission customers the benefit of the reduced federal corporate income tax rate resulting from the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 449.85 Td (T) Tj ET Q q 0 0 0 rg BT 55.72 449.85 Td (ax Cuts and Jobs ) Tj ET Q q 0 0 0 rg BT 135.59 449.85 Td (Act \("T) Tj ET Q q 0 0 0 rg BT 169.81 449.85 Td (ax ) Tj ET Q q 0 0 0 rg BT 182.91 449.85 Td (Act"\) beginning in its 2018 annual transmission formula rate update filing. ) Tj ET Q q 0 0 0 rg BT 529.14 449.85 Td (These ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 436.05 Td (modifications were approved by FERC on May 22, 2018 and reduced ) Tj ET Q q 0 0 0 rg BT 372.08 436.05 Td (APS) Tj ET Q q 0 0 0 rg BT 396.37 436.05 Td (s transmission rates compared to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 422.25 Td (the rate that would have gone into ef) Tj ET Q q 0 0 0 rg BT 217.58 422.25 Td (fect absent these changes. On March 17, 2020, ) Tj ET Q q 0 0 0 rg BT 437.30 422.25 Td (APS made a filing to make ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 408.45 Td (further modifications to its annual transmission formula to provide additional transparency for excess and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 394.65 Td (deficient ) Tj ET Q q 0 0 0 rg BT 91.97 394.65 Td (Accumulated Deferred Income ) Tj ET Q q 0 0 0 rg BT 237.04 394.65 Td (T) Tj ET Q q 0 0 0 rg BT 243.26 394.65 Td (axes resulting from the ) Tj ET Q q 0 0 0 rg BT 351.64 394.65 Td (T) Tj ET Q q 0 0 0 rg BT 357.86 394.65 Td (ax ) Tj ET Q q 0 0 0 rg BT 370.95 394.65 Td (Act, as well as for future local, state, and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 380.85 Td (federal statutory tax rate changes. ) Tj ET Q q 0 0 0 rg BT 209.90 380.85 Td (This filing is pending with FERC.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 353.25 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 353.25 Td (Ef) Tj ET Q q 0 0 0 rg BT 96.15 353.25 Td (fective June1, 2018, ) Tj ET Q q 0 0 0 rg BT 193.88 353.25 Td (APS's annual wholesale transmission rates for all users of its transmission ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 339.45 Td (system decreased by approximately ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 216.20 339.45 Td ($22.7 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 278.17 339.45 Td ( for the twelve-month period beginning June 1, 2018 in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 325.65 Td (accordance with the FERC-approved formula. ) Tj ET Q q 0 0 0 rg BT 266.98 325.65 Td (An adjustment to ) Tj ET Q q 0 0 0 rg BT 348.43 325.65 Td (APS) Tj ET Q q 0 0 0 rg BT 372.73 325.65 Td (s retail rates to recover FERC approved ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 311.85 Td (transmission char) Tj ET Q q 0 0 0 rg BT 130.10 311.85 Td (ges went into ef) Tj ET Q q 0 0 0 rg BT 203.03 311.85 Td (fect automatically on June1, 2018.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 284.25 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 284.25 Td (Ef) Tj ET Q q 0 0 0 rg BT 96.15 284.25 Td (fective June1, 2019, ) Tj ET Q q 0 0 0 rg BT 193.88 284.25 Td (APS's annual wholesale transmission rates for all users of its transmission ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 270.45 Td (system increased by approximately ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 214.29 270.45 Td ($4.9 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 270.52 270.45 Td ( for the twelve-month period beginning June 1, 2019 in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 256.65 Td (accordance with the FERC-approved formula. ) Tj ET Q q 0 0 0 rg BT 266.98 256.65 Td (An adjustment to ) Tj ET Q q 0 0 0 rg BT 348.43 256.65 Td (APS) Tj ET Q q 0 0 0 rg BT 372.73 256.65 Td (s retail rates to recover FERC approved ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 242.85 Td (transmission char) Tj ET Q q 0 0 0 rg BT 130.10 242.85 Td (ges went into ef) Tj ET Q q 0 0 0 rg BT 203.03 242.85 Td (fect automatically on June1, 2019.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 215.85 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 215.85 Td () Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 88.38 215.85 Td (Lost Fixed Cost Recovery Mechanism) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 267.89 215.85 Td (.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 270.77 215.85 Td ( ) Tj ET Q q 0 0 0 rg BT 276.31 215.85 Td (The LFCR mechanism permits ) Tj ET Q q 0 0 0 rg BT 420.69 215.85 Td (APS to recover on an after) Tj ET Q q 0 0 0 rg BT 542.77 215.85 Td (-) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 202.05 Td (the-fact basis a portion of its fixed costs that would otherwise have been collected by ) Tj ET Q q 0 0 0 rg BT 442.63 202.05 Td (APS in the kWh sales lost ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 188.25 Td (due to ) Tj ET Q q 0 0 0 rg BT 80.17 188.25 Td (APS ener) Tj ET Q q 0 0 0 rg BT 123.72 188.25 Td (gy ef) Tj ET Q q 0 0 0 rg BT 146.82 188.25 Td (ficiency programs and to DG such as rooftop solar arrays. ) Tj ET Q q 0 0 0 rg BT 418.70 188.25 Td (The fixed costs recoverable by ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 174.45 Td (the LFCR mechanism were first established in the 2012 Settlement ) Tj ET Q q 0 0 0 rg BT 359.95 174.45 Td (Agreement and amount to approximately ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 160.65 Td (3.1 cents) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 90.38 160.65 Td ( per residential kWh lost and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 225.79 160.65 Td (2.3 cents) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 266.67 160.65 Td ( per non-residential kWh lost. ) Tj ET Q q 0 0 0 rg BT 409.22 160.65 Td (These amounts were revised in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 146.85 Td (the 2017 Settlement ) Tj ET Q q 0 0 0 rg BT 143.73 146.85 Td (Agreement to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 209.51 146.85 Td (2.5 cents) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 250.39 146.85 Td ( for both lost residential and non-residential kWh. ) Tj ET Q q 0 0 0 rg BT 485.24 146.85 Td (The LFCR ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 133.05 Td (adjustment has a year) Tj ET Q q 0 0 0 rg BT 148.58 133.05 Td (-over) Tj ET Q q 0 0 0 rg BT 172.62 133.05 Td (-year cap of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 230.40 133.05 Td (1%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 245.73 133.05 Td ( of retail revenues. ) Tj ET Q q 0 0 0 rg BT 336.42 133.05 Td (Any amounts left unrecovered in a particular ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 119.25 Td (year because of this cap can be carried over for recovery in a future year) Tj ET Q q 0 0 0 rg BT 381.55 119.25 Td (. ) Tj ET Q q 0 0 0 rg BT 389.96 119.25 Td (The kWhs lost from ener) Tj ET Q q 0 0 0 rg BT 504.73 119.25 Td (gy ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 105.45 Td (ef) Tj ET Q q 0 0 0 rg BT 58.23 105.45 Td (ficiency are based on a third-party evaluation of ) Tj ET Q q 0 0 0 rg BT 281.11 105.45 Td (APS) Tj ET Q q 0 0 0 rg BT 305.40 105.45 Td (s ener) Tj ET Q q 0 0 0 rg BT 332.34 105.45 Td (gy ef) Tj ET Q q 0 0 0 rg BT 355.44 105.45 Td (ficiency programs. DG sales losses are ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 91.65 Td (determined from the metered output from the DG units.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 77.85 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 64.05 Td (On February 15, 2018, ) Tj ET Q q 0 0 0 rg BT 192.19 64.05 Td (APS filed its 2018 annual LFCR adjustment, requesting that ef) Tj ET Q q 0 0 0 rg BT 480.73 64.05 Td (fective May 1, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 50.25 Td (2018, the LFCR be adjusted to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 193.56 50.25 Td ($60.7 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 255.54 50.25 Td (. On February 6, 2019, the ) Tj ET Q q 0 0 0 rg BT 382.02 50.25 Td (ACC approved the 2018 annual LFCR ) Tj ET Q endstream endobj 63 0 obj <> endobj 64 0 obj <> stream BT /F2 11.50 Tf ET q 0 0 0 rg BT 84.45 757.95 Td (COMBINED NOTES ) Tj ET Q q 0 0 0 rg BT 193.51 757.95 Td (T) Tj ET Q q 0 0 0 rg BT 200.97 757.95 Td (O CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 356.68 757.95 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 447.74 757.95 Td ( ST) Tj ET Q q 0 0 0 rg BT 463.82 757.95 Td (A) Tj ET Q q 0 0 0 rg BT 471.28 757.95 Td (TEMENTS) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 32.55 Td (29) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 712.05 Td (adjustment to become ef) Tj ET Q q 0 0 0 rg BT 162.02 712.05 Td (fective March 1, 2019. On February 15, 2019, ) Tj ET Q q 0 0 0 rg BT 378.88 712.05 Td (APS filed its 2019 annual LFCR ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 698.25 Td (adjustment, requesting that ef) Tj ET Q q 0 0 0 rg BT 185.34 698.25 Td (fective May 1, 2019, the annual LFCR recovery amount be reduced to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 511.08 698.25 Td ($36.2 ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 684.45 Td (million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 82.73 684.45 Td ( \(a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 97.41 684.45 Td ($24.5 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 159.39 684.45 Td ( decrease from previous levels\). On July 10, 2019, the ) Tj ET Q q 0 0 0 rg BT 412.97 684.45 Td (ACC approved ) Tj ET Q q 0 0 0 rg BT 484.52 684.45 Td (APS) Tj ET Q q 0 0 0 rg BT 508.81 684.45 Td (s 2019 ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 670.65 Td (LFCR adjustment as filed, ef) Tj ET Q q 0 0 0 rg BT 182.48 670.65 Td (fective with the next billing cycle of July 2019. On February 14, 2020, ) Tj ET Q q 0 0 0 rg BT 512.41 670.65 Td (APS filed ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 656.85 Td (its 2020 annual LFCR adjustment, requesting that ef) Tj ET Q q 0 0 0 rg BT 290.12 656.85 Td (fective May 1, 2020, the annual LFCR recovery amount be ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 643.05 Td (reduced to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 100.59 643.05 Td ($26.6 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 162.56 643.05 Td ( \(a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 177.25 643.05 Td ($9.6 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 233.48 643.05 Td ( decrease from previous levels\). On ) Tj ET Q q 0 0 0 rg BT 402.09 643.05 Td (April 14, 2020, the ) Tj ET Q q 0 0 0 rg BT 491.53 643.05 Td (ACC approved ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 629.25 Td (the 2020 LFCR adjustment as filed, ef) Tj ET Q q 0 0 0 rg BT 225.28 629.25 Td (fective with the first billing cycle in May 2020. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 601.65 Td ( ) Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 85.50 601.65 Td (T) Tj ET Q q 0 0 0 rg BT 91.47 601.65 Td (ax Expense ) Tj ET Q q 0 0 0 rg BT 148.54 601.65 Td (Adjustor Mechanism) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 247.92 601.65 Td (. ) Tj ET Q q 0 0 0 rg BT 255.91 601.65 Td (As part of the 2017 Settlement ) Tj ET Q q 0 0 0 rg BT 399.00 601.65 Td (Agreement, the parties agreed to a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 587.85 Td (rate adjustment mechanism to address potential federal income tax reform and enable the pass-through of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 574.05 Td (certain income tax ef) Tj ET Q q 0 0 0 rg BT 146.03 574.05 Td (fects to customers. ) Tj ET Q q 0 0 0 rg BT 234.61 574.05 Td (The ) Tj ET Q q 0 0 0 rg BT 255.16 574.05 Td (TEAM expressly applies to ) Tj ET Q q 0 0 0 rg BT 383.56 574.05 Td (APS's retail rates with the exception ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 560.25 Td (of a small subset of customers taking service under specially-approved tarif) Tj ET Q q 0 0 0 rg BT 396.74 560.25 Td (fs. On December 22, 2017, the ) Tj ET Q q 0 0 0 rg BT 543.44 560.25 Td (T) Tj ET Q q 0 0 0 rg BT 549.67 560.25 Td (ax ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 546.45 Td (Act was enacted. ) Tj ET Q q 0 0 0 rg BT 133.27 546.45 Td (This legislation made significant changes to the federal income tax laws including a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 532.65 Td (reduction in the corporate tax rate from 35% to 21% ef) Tj ET Q q 0 0 0 rg BT 301.56 532.65 Td (fective January 1, 2018. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 505.05 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 505.05 Td (On January 8, 2018, ) Tj ET Q q 0 0 0 rg BT 180.69 505.05 Td (APS filed an application with the ) Tj ET Q q 0 0 0 rg BT 335.92 505.05 Td (ACC that addressed the change in the mar) Tj ET Q q 0 0 0 rg BT 529.56 505.05 Td (ginal ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 491.25 Td (federal tax rate from 35% to 21% resulting from the ) Tj ET Q q 0 0 0 rg BT 291.35 491.25 Td (T) Tj ET Q q 0 0 0 rg BT 297.57 491.25 Td (ax ) Tj ET Q q 0 0 0 rg BT 310.67 491.25 Td (Act and reduced rates by ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 427.86 491.25 Td ($1) Tj ET Q q 0 0 0 rg BT 438.93 491.25 Td (19.1 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 495.16 491.25 Td ( annually ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 477.45 Td (through an equal cents per kWh credit \("TEAM Phase I"\). On February 22, 2018, the ) Tj ET Q q 0 0 0 rg BT 446.28 477.45 Td (ACC approved the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 463.65 Td (reduction of rates through an equal cents per kWh credit. ) Tj ET Q q 0 0 0 rg BT 314.02 463.65 Td (The rate reduction was ef) Tj ET Q q 0 0 0 rg BT 430.67 463.65 Td (fective for the first billing ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 449.85 Td (cycle in March 2018. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 422.25 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 422.25 Td (The impact of the ) Tj ET Q q 0 0 0 rg BT 169.60 422.25 Td (TEAM Phase I, over time, is expected to be earnings neutral. However) Tj ET Q q 0 0 0 rg BT 494.87 422.25 Td (, on a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 408.45 Td (quarterly basis, there is a dif) Tj ET Q q 0 0 0 rg BT 179.59 408.45 Td (ference between the timing and amount of the income tax benefit and the reduction ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 394.65 Td (in revenues refunded through the ) Tj ET Q q 0 0 0 rg BT 204.17 394.65 Td (TEAM Phase I related to the lower federal income tax rate. ) Tj ET Q q 0 0 0 rg BT 479.22 394.65 Td (The amount of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 380.85 Td (the benefit of the lower federal income tax rate is based on quarterly pre-tax results, while the reduction in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 367.05 Td (revenues refunded through the ) Tj ET Q q 0 0 0 rg BT 192.35 367.05 Td (TEAM Phase I is based on a per kWh sales credit which follows our seasonal ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 353.25 Td (kWh sales pattern and is not impacted by earnings of the Company) Tj ET Q q 0 0 0 rg BT 356.95 353.25 Td (.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 325.65 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 325.65 Td (On ) Tj ET Q q 0 0 0 rg BT 101.80 325.65 Td (August 13, 2018, ) Tj ET Q q 0 0 0 rg BT 183.26 325.65 Td (APS filed a second request with the ) Tj ET Q q 0 0 0 rg BT 349.67 325.65 Td (ACC that addressed the return of an ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 311.85 Td (additional ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 98.37 311.85 Td ($86.5 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 160.34 311.85 Td ( in tax savings to customers related to the amortization of non-depreciation related ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 298.05 Td (excess deferred taxes previously collected from customers \("TEAM Phase II"\).) Tj ET Q q 0 0 0 rg BT 416.02 298.05 Td (The ) Tj ET Q q 0 0 0 rg BT 436.14 298.05 Td (ACC approved this request ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 284.25 Td (on March 13, 2019, ef) Tj ET Q q 0 0 0 rg BT 151.49 284.25 Td (fective the first billing cycle in ) Tj ET Q q 0 0 0 rg BT 295.20 284.25 Td (April 2019 through the last billing cycle in March 2020. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 270.45 Td (On March 19, 2020, due to the COVID-19 pandemic, ) Tj ET Q q 0 0 0 rg BT 297.98 270.45 Td (APS delayed the discontinuation of ) Tj ET Q q 0 0 0 rg BT 463.55 270.45 Td (TEAM Phase II ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 256.65 Td (until the first billing cycle in May 2020. ) Tj ET Q q 0 0 0 rg BT 238.59 256.65 Td (Amounts credited to customers after the last billing cycle in March ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 242.85 Td (2020 will be recorded as a part of the balancing account and will be addressed for recovery as part of ) Tj ET Q q 0 0 0 rg BT 516.36 242.85 Td (APS's ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 229.05 Td (2019 ) Tj ET Q q 0 0 0 rg BT 74.74 229.05 Td (ACC rate case. Both the timing of the reduction in revenues refunded through ) Tj ET Q q 0 0 0 rg BT 438.29 229.05 Td (TEAM Phase II and the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 215.25 Td (of) Tj ET Q q 0 0 0 rg BT 58.87 215.25 Td (fsetting income tax benefit are recognized based upon our seasonal kWh sales pattern.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 201.45 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 187.65 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 187.65 Td (On ) Tj ET Q q 0 0 0 rg BT 101.80 187.65 Td (April 10, 2019, ) Tj ET Q q 0 0 0 rg BT 174.31 187.65 Td (APS filed a third request with the ) Tj ET Q q 0 0 0 rg BT 330.50 187.65 Td (ACC that addressed the amortization of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 173.85 Td (depreciation related excess deferred taxes over a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 275.23 173.85 Td (28.5) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 295.35 173.85 Td ( year period consistent with IRS normalization rules ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 160.05 Td (\(TEAM Phase III\). On October 29, 2019, the ) Tj ET Q q 0 0 0 rg BT 271.78 160.05 Td (ACC approved ) Tj ET Q q 0 0 0 rg BT 343.75 160.05 Td (TEAM Phase III providing both \(i\) a one-time ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 146.25 Td (bill credit of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 109.22 146.25 Td ($64 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 162.57 146.25 Td ( which was credited to customers on their December 2019 bills, and \(ii\) a monthly bill ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 132.45 Td (credit ef) Tj ET Q q 0 0 0 rg BT 87.28 132.45 Td (fective the first billing cycle in December 2019 which will provide an additional benefit of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 507.23 132.45 Td ($39.5 ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 118.65 Td (million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 82.73 118.65 Td ( to customers through December 31, 2020. It is currently anticipated that benefits related to the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 104.85 Td (amortization of depreciation related excess deferred taxes for periods beginning after December 31, 2020 will ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 91.05 Td (be fully incorporated into the 2019 rate case. ) Tj ET Q endstream endobj 65 0 obj <> endobj 66 0 obj <> stream BT /F2 11.50 Tf ET q 0 0 0 rg BT 84.45 757.95 Td (COMBINED NOTES ) Tj ET Q q 0 0 0 rg BT 193.51 757.95 Td (T) Tj ET Q q 0 0 0 rg BT 200.97 757.95 Td (O CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 356.68 757.95 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 447.74 757.95 Td ( ST) Tj ET Q q 0 0 0 rg BT 463.82 757.95 Td (A) Tj ET Q q 0 0 0 rg BT 471.28 757.95 Td (TEMENTS) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 32.55 Td (30) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 712.25 Td (Net Metering) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 684.65 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 684.65 Td (In 2015, the ) Tj ET Q q 0 0 0 rg BT 143.00 684.65 Td (ACC voted to conduct a generic evidentiary hearing on the value and cost of DG to gather ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 670.85 Td (information that will inform the ) Tj ET Q q 0 0 0 rg BT 198.02 670.85 Td (ACC on net metering issues and cost of service studies in upcoming utility rate ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 657.05 Td (cases. ) Tj ET Q q 0 0 0 rg BT 81.76 657.05 Td (A) Tj ET Q q 0 0 0 rg BT 89.43 657.05 Td ( hearing was held in ) Tj ET Q q 0 0 0 rg BT 184.28 657.05 Td (April 2016. On October 7, 2016, the ) Tj ET Q q 0 0 0 rg BT 359.32 657.05 Td (Administrative Law Judge issued a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 643.25 Td (recommendation in the docket concerning the value and cost of DG solar installations. On December 20, 2016, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 629.45 Td (the ) Tj ET Q q 0 0 0 rg BT 65.79 629.45 Td (ACC completed its open meeting to consider the recommended opinion and order by the ) Tj ET Q q 0 0 0 rg BT 475.87 629.45 Td (Administrative ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 615.65 Td (Law Judge. ) Tj ET Q q 0 0 0 rg BT 107.63 615.65 Td (After making several amendments, the ) Tj ET Q q 0 0 0 rg BT 287.74 615.65 Td (ACC approved the recommended decision by a 4-1 vote. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 601.85 Td (As a result of the ) Tj ET Q q 0 0 0 rg BT 130.31 601.85 Td (ACC) Tj ET Q q 0 0 0 rg BT 157.15 601.85 Td (s action, ef) Tj ET Q q 0 0 0 rg BT 207.07 601.85 Td (fective with ) Tj ET Q q 0 0 0 rg BT 263.92 601.85 Td (APS) Tj ET Q q 0 0 0 rg BT 288.21 601.85 Td (s 2017 Rate Case Decision, the net metering tarif) Tj ET Q q 0 0 0 rg BT 513.79 601.85 Td (f that ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 588.05 Td (governs payments for ener) Tj ET Q q 0 0 0 rg BT 171.60 588.05 Td (gy exported to the grid from residential rooftop solar systems was replaced by a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 574.25 Td (more formula-driven approach that utilizes inputs from historical wholesale solar power until an avoided cost ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 560.45 Td (methodology is developed by the ) Tj ET Q q 0 0 0 rg BT 204.41 560.45 Td (ACC. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 532.85 Td (As amended, the decision provides that payments by utilities for ener) Tj ET Q q 0 0 0 rg BT 403.71 532.85 Td (gy exported to the grid from DG ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 519.05 Td (solar facilities will be determined using a RCP) Tj ET Q q 0 0 0 rg BT 263.39 519.05 Td ( methodology) Tj ET Q q 0 0 0 rg BT 326.20 519.05 Td (, a method that is based on the most recent five-) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 505.25 Td (year rolling average price that ) Tj ET Q q 0 0 0 rg BT 189.67 505.25 Td (APS pays for utility-scale solar projects, while a forecasted avoided cost ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 491.45 Td (methodology is being developed. ) Tj ET Q q 0 0 0 rg BT 207.71 491.45 Td (The price established by this RCP) Tj ET Q q 0 0 0 rg BT 363.48 491.45 Td ( method will be updated annually \(between ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 477.65 Td (general retail rate cases\) but will not be decreased by more than ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 345.18 477.65 Td (10%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 366.26 477.65 Td ( per year) Tj ET Q q 0 0 0 rg BT 405.85 477.65 Td (. Once the avoided cost ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 463.85 Td (methodology is developed, the ) Tj ET Q q 0 0 0 rg BT 192.91 463.85 Td (ACC will determine in ) Tj ET Q q 0 0 0 rg BT 300.24 463.85 Td (APS's subsequent rate cases which method \(or a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 450.05 Td (combination of methods\) is appropriate to determine the actual price to be paid by ) Tj ET Q q 0 0 0 rg BT 429.53 450.05 Td (APS for exported distributed ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 436.25 Td (ener) Tj ET Q q 0 0 0 rg BT 69.08 436.25 Td (gy) Tj ET Q q 0 0 0 rg BT 79.83 436.25 Td (.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 408.65 Td (In addition, the ) Tj ET Q q 0 0 0 rg BT 157.69 408.65 Td (ACC made the following determinations:) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 381.05 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 381.05 Td (Customers who have interconnected a DG system or submitted an application for interconnection ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 367.25 Td (for DG systems prior to September 1, 2017, based on ) Tj ET Q q 0 0 0 rg BT 350.72 367.25 Td (APS's 2017 Rate Case Decision, will be ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 353.45 Td (grandfathered for a period of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 239.20 353.45 Td (20) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 250.70 353.45 Td ( years from the date the customer) Tj ET Q q 0 0 0 rg BT 404.40 353.45 Td () Tj ET Q q 0 0 0 rg BT 407.60 353.45 Td (s interconnection application was ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 339.65 Td (accepted by the utility;) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 325.85 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 325.85 Td (Customers with DG solar systems are to be considered a separate class of customers for ratemaking ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 312.05 Td (purposes; and) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 298.25 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 298.25 Td (Once an export price is set for ) Tj ET Q q 0 0 0 rg BT 244.33 298.25 Td (APS, no netting or banking of retail credits will be available for new ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 284.45 Td (DG customers, and the then-applicable export price will be guaranteed for new customers for a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 270.65 Td (period of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 148.21 270.65 Td (10) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 159.71 270.65 Td ( years. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 243.05 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 243.05 Td (This decision of the ) Tj ET Q q 0 0 0 rg BT 178.77 243.05 Td (ACC addresses policy determinations only) Tj ET Q q 0 0 0 rg BT 374.77 243.05 Td (. ) Tj ET Q q 0 0 0 rg BT 383.19 243.05 Td (The decision states that its principles ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 229.25 Td (will be applied in future general retail rate cases, and the policy determinations themselves may be subject to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 215.45 Td (future change, as are all ) Tj ET Q q 0 0 0 rg BT 161.25 215.45 Td (ACC policies. ) Tj ET Q q 0 0 0 rg BT 231.53 215.45 Td (A) Tj ET Q q 0 0 0 rg BT 239.20 215.45 Td ( first-year export ener) Tj ET Q q 0 0 0 rg BT 338.93 215.45 Td (gy price of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 391.62 215.45 Td (12.9 cents) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 438.25 215.45 Td ( per kWh was included in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 201.65 Td (the 2017 Settlement ) Tj ET Q q 0 0 0 rg BT 143.73 201.65 Td (Agreement and became ef) Tj ET Q q 0 0 0 rg BT 263.88 201.65 Td (fective on September 1, 2017. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 174.05 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 174.05 Td (In accordance with the 2017 Rate Case Decision, ) Tj ET Q q 0 0 0 rg BT 313.83 174.05 Td (APS filed its request for a second-year export ener) Tj ET Q q 0 0 0 rg BT 546.11 174.05 Td (gy ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 160.25 Td (price of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 87.81 160.25 Td (1) Tj ET Q q 0 0 0 rg BT 93.14 160.25 Td (1.6 cents) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 134.02 160.25 Td ( per kWh on May 1, 2018. ) Tj ET Q q 0 0 0 rg BT 260.93 160.25 Td (This price reflected the 10% annual reduction discussed above. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 146.45 Td (The new rate rider became ef) Tj ET Q q 0 0 0 rg BT 183.70 146.45 Td (fective on October 1, 2018. ) Tj ET Q q 0 0 0 rg BT 314.64 146.45 Td (APS filed its request for a third-year export ener) Tj ET Q q 0 0 0 rg BT 536.70 146.45 Td (gy ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 132.65 Td (price of 10.5 cents per kWh on May 1, 2019. ) Tj ET Q q 0 0 0 rg BT 261.35 132.65 Td (This price also reflects the 10% annual reduction discussed ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 118.85 Td (above. ) Tj ET Q q 0 0 0 rg BT 82.50 118.85 Td (The new rate rider became ef) Tj ET Q q 0 0 0 rg BT 216.70 118.85 Td (fective on October 1, 2019. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 91.25 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 91.25 Td (On January 23, 2017, ) Tj ET Q q 0 0 0 rg BT 186.86 91.25 Td (The ) Tj ET Q q 0 0 0 rg BT 206.98 91.25 Td (Alliance for Solar Choice\("T) Tj ET Q q 0 0 0 rg BT 342.32 91.25 Td (ASC"\) sought rehearing of the ) Tj ET Q q 0 0 0 rg BT 484.68 91.25 Td (ACC's decision ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 77.45 Td (regarding the value and cost of DG. ) Tj ET Q q 0 0 0 rg BT 216.63 77.45 Td (T) Tj ET Q q 0 0 0 rg BT 222.73 77.45 Td (ASC asserted that the ) Tj ET Q q 0 0 0 rg BT 324.31 77.45 Td (ACC improperly ignored the ) Tj ET Q q 0 0 0 rg BT 459.10 77.45 Td (Administrative ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 63.65 Td (Procedure ) Tj ET Q q 0 0 0 rg BT 98.36 63.65 Td (Act, failed to give adequate notice regarding the scope of the proceedings, and relied on information ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 49.85 Td (that was not submitted as evidence, among other alleged defects. ) Tj ET Q q 0 0 0 rg BT 350.12 49.85 Td (T) Tj ET Q q 0 0 0 rg BT 356.22 49.85 Td (ASC filed a Notice of ) Tj ET Q q 0 0 0 rg BT 458.75 49.85 Td (Appeal in the ) Tj ET Q q 0 0 0 rg BT 522.95 49.85 Td (Arizona ) Tj ET Q endstream endobj 67 0 obj <> endobj 68 0 obj <> stream BT /F2 11.50 Tf ET q 0 0 0 rg BT 84.45 757.95 Td (COMBINED NOTES ) Tj ET Q q 0 0 0 rg BT 193.51 757.95 Td (T) Tj ET Q q 0 0 0 rg BT 200.97 757.95 Td (O CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 356.68 757.95 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 447.74 757.95 Td ( ST) Tj ET Q q 0 0 0 rg BT 463.82 757.95 Td (A) Tj ET Q q 0 0 0 rg BT 471.28 757.95 Td (TEMENTS) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 32.55 Td (31) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 712.05 Td (Court of ) Tj ET Q q 0 0 0 rg BT 90.39 712.05 Td (Appeals and filed a Complaint and Statutory ) Tj ET Q q 0 0 0 rg BT 297.68 712.05 Td (Appeal in the Maricopa County Superior Court on ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 698.25 Td (March10, 2017. ) Tj ET Q q 0 0 0 rg BT 130.63 698.25 Td (As part of the 2017 Settlement ) Tj ET Q q 0 0 0 rg BT 273.72 698.25 Td (Agreement described above, ) Tj ET Q q 0 0 0 rg BT 407.63 698.25 Td (T) Tj ET Q q 0 0 0 rg BT 413.73 698.25 Td (ASC agreed to withdraw these ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 684.45 Td (appeals when the ) Tj ET Q q 0 0 0 rg BT 130.93 684.45 Td (ACC decision implementing the 2017 Settlement ) Tj ET Q q 0 0 0 rg BT 359.64 684.45 Td (Agreement is no longer subject to appellate ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 670.65 Td (review) Tj ET Q q 0 0 0 rg BT 80.04 670.65 Td (.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 643.05 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 643.05 Td (See "2016 Retail Rate Case Filing with the ) Tj ET Q q 0 0 0 rg BT 285.04 643.05 Td (Arizona Corporation Commission" above for information ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 629.25 Td (regarding an ) Tj ET Q q 0 0 0 rg BT 109.53 629.25 Td (ACC order in connection with the rate review of the 2017 Rate Case Decision requiring ) Tj ET Q q 0 0 0 rg BT 515.45 629.25 Td (APS to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 615.45 Td (provide grandfathered net metering customers on legacy demand rates with an opportunity to switch to another ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 601.65 Td (legacy rate to enable such customers to benefit from legacy net metering rates.) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 574.05 Td (Subpoena fr) Tj ET Q q 0 0 0 rg BT 109.69 574.05 Td (om ) Tj ET Q q 0 0 0 rg BT 127.26 574.05 Td (Arizona Corporation Commissioner) Tj ET Q q 0 0 0 rg BT 304.65 574.05 Td ( Robert Burns) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 546.45 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 546.45 Td (On ) Tj ET Q q 0 0 0 rg BT 101.80 546.45 Td (August 25, 2016, Commissioner Burns, individually and not by action of the ) Tj ET Q q 0 0 0 rg BT 456.69 546.45 Td (ACC as a whole, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 532.65 Td (served subpoenas in ) Tj ET Q q 0 0 0 rg BT 144.36 532.65 Td (APS) Tj ET Q q 0 0 0 rg BT 168.65 532.65 Td (s then current retail rate proceeding on ) Tj ET Q q 0 0 0 rg BT 348.43 532.65 Td (APS and Pinnacle ) Tj ET Q q 0 0 0 rg BT 434.15 532.65 Td (W) Tj ET Q q 0 0 0 rg BT 444.08 532.65 Td (est for the production of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 518.85 Td (records and information relating to a range of expenditures from 201) Tj ET Q q 0 0 0 rg BT 365.22 518.85 Td (1 through 2016. ) Tj ET Q q 0 0 0 rg BT 441.04 518.85 Td (The subpoenas requested ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 505.05 Td (information concerning marketing and advertising expenditures, charitable donations, lobbying expenses, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 491.25 Td (contributions to 501\(c\)\(3\) and \(c\)\(4\) nonprofits and political contributions. ) Tj ET Q q 0 0 0 rg BT 399.01 491.25 Td (The return date for the production ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 477.45 Td (of information was set as September 15, 2016. ) Tj ET Q q 0 0 0 rg BT 265.84 477.45 Td (The subpoenas also sought testimony from Company personnel ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 463.65 Td (having knowledge of the material, including the Chief Executive Of) Tj ET Q q 0 0 0 rg BT 362.26 463.65 Td (ficer) Tj ET Q q 0 0 0 rg BT 382.69 463.65 Td (. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 436.05 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 436.05 Td (On September 9, 2016, ) Tj ET Q q 0 0 0 rg BT 194.10 436.05 Td (APS filed with the ) Tj ET Q q 0 0 0 rg BT 281.63 436.05 Td (ACC a motion to quash the subpoenas or) Tj ET Q q 0 0 0 rg BT 469.95 436.05 Td (, alternatively) Tj ET Q q 0 0 0 rg BT 532.43 436.05 Td (, to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 422.25 Td (stay ) Tj ET Q q 0 0 0 rg BT 70.27 422.25 Td (APS's obligations to comply with the subpoenas and decline to decide ) Tj ET Q q 0 0 0 rg BT 394.62 422.25 Td (APS's motion pending court ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 408.45 Td (proceedings. Contemporaneously with the filing of this motion, ) Tj ET Q q 0 0 0 rg BT 344.00 408.45 Td (APS and Pinnacle ) Tj ET Q q 0 0 0 rg BT 429.72 408.45 Td (W) Tj ET Q q 0 0 0 rg BT 439.65 408.45 Td (est filed a complaint for ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 394.65 Td (special action and declaratory judgment in the Superior Court of ) Tj ET Q q 0 0 0 rg BT 347.78 394.65 Td (Arizona for Maricopa County) Tj ET Q q 0 0 0 rg BT 484.04 394.65 Td (, seeking a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 380.85 Td (declaratory judgment that Commissioner Burns) Tj ET Q q 0 0 0 rg BT 270.94 380.85 Td ( subpoenas are contrary to law) Tj ET Q q 0 0 0 rg BT 410.38 380.85 Td (. On September 15, 2016, ) Tj ET Q q 0 0 0 rg BT 533.36 380.85 Td (APS ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 367.05 Td (produced all non-confidential and responsive documents and of) Tj ET Q q 0 0 0 rg BT 341.50 367.05 Td (fered to produce any remaining responsive ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 353.25 Td (documents that are confidential after an appropriate confidentiality agreement is signed. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 325.65 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 325.65 Td (On February 7, 2017, Commissioner Burns opened a new ) Tj ET Q q 0 0 0 rg BT 352.85 325.65 Td (ACC docket and indicated that its purpose is ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 311.85 Td (to study and rectify problems with transparency and disclosure regarding financial contributions from ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 298.05 Td (regulated monopolies or other stakeholders who may appear before the ) Tj ET Q q 0 0 0 rg BT 378.43 298.05 Td (ACC that may directly or indirectly ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 284.25 Td (benefit an ) Tj ET Q q 0 0 0 rg BT 97.40 284.25 Td (ACC Commissioner) Tj ET Q q 0 0 0 rg BT 190.55 284.25 Td (, a candidate for ) Tj ET Q q 0 0 0 rg BT 266.86 284.25 Td (ACC Commissioner) Tj ET Q q 0 0 0 rg BT 360.01 284.25 Td (, or key ) Tj ET Q q 0 0 0 rg BT 397.06 284.25 Td (ACC Staf) Tj ET Q q 0 0 0 rg BT 441.90 284.25 Td (f. ) Tj ET Q q 0 0 0 rg BT 453.72 284.25 Td (As part of this docket, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 270.45 Td (Commissioner Burns set March 24, 2017 as a deadline for the production of all information previously ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 256.65 Td (requested through the subpoenas. Neither ) Tj ET Q q 0 0 0 rg BT 242.40 256.65 Td (APS nor Pinnacle ) Tj ET Q q 0 0 0 rg BT 326.84 256.65 Td (W) Tj ET Q q 0 0 0 rg BT 336.78 256.65 Td (est produced the information requested and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 242.85 Td (instead objected to the subpoena. On March 10, 2017, Commissioner Burns filed suit against ) Tj ET Q q 0 0 0 rg BT 481.97 242.85 Td (APS and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 229.05 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 91.77 229.05 Td (W) Tj ET Q q 0 0 0 rg BT 101.70 229.05 Td (est in the Superior Court of ) Tj ET Q q 0 0 0 rg BT 229.47 229.05 Td (Arizona for Maricopa County in an ef) Tj ET Q q 0 0 0 rg BT 403.62 229.05 Td (fort to enforce his subpoenas. On ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 215.25 Td (March 30, 2017, ) Tj ET Q q 0 0 0 rg BT 127.75 215.25 Td (APS filed a motion to dismiss Commissioner Burns' suit against ) Tj ET Q q 0 0 0 rg BT 425.02 215.25 Td (APS and Pinnacle ) Tj ET Q q 0 0 0 rg BT 510.74 215.25 Td (W) Tj ET Q q 0 0 0 rg BT 520.67 215.25 Td (est. In ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 201.45 Td (response to the motion to dismiss, the court stayed the suit and ordered Commissioner Burns to file a motion to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 187.65 Td (compel the production of the information sought by the subpoenas with the ) Tj ET Q q 0 0 0 rg BT 397.64 187.65 Td (ACC. On June 20, 2017, the ) Tj ET Q q 0 0 0 rg BT 533.09 187.65 Td (ACC ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 173.85 Td (denied the motion to compel. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 146.25 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 146.25 Td (On ) Tj ET Q q 0 0 0 rg BT 101.80 146.25 Td (August 4, 2017, Commissioner Burns amended his complaint to add all of the ) Tj ET Q q 0 0 0 rg BT 462.42 146.25 Td (ACC Commissioners ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 132.45 Td (and the ) Tj ET Q q 0 0 0 rg BT 85.27 132.45 Td (ACC itself as defendants. ) Tj ET Q q 0 0 0 rg BT 207.92 132.45 Td (All defendants moved to dismiss the amended complaint. On February 15, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 118.65 Td (2018, the Superior Court dismissed Commissioner Burns) Tj ET Q q 0 0 0 rg BT 315.38 118.65 Td ( amended complaint. On March 6, 2018, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 104.85 Td (Commissioner Burns filed an objection to the proposed final order from the Superior Court and a motion to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 91.05 Td (further amend his complaint. ) Tj ET Q q 0 0 0 rg BT 187.90 91.05 Td (The Superior Court permitted Commissioner Burns to amend his complaint to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 77.25 Td (add a claim regarding his attempted investigation into whether his fellow commissioners should have been ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 63.45 Td (disqualified from voting on ) Tj ET Q q 0 0 0 rg BT 177.91 63.45 Td (APS) Tj ET Q q 0 0 0 rg BT 202.20 63.45 Td (s 2017 rate case. Commissioner Burns filed his second amended complaint, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 49.65 Td (and all defendants filed responses opposing the second amended complaint and requested that it be dismissed. ) Tj ET Q endstream endobj 69 0 obj <> endobj 70 0 obj <> stream BT /F2 11.50 Tf ET q 0 0 0 rg BT 84.45 757.95 Td (COMBINED NOTES ) Tj ET Q q 0 0 0 rg BT 193.51 757.95 Td (T) Tj ET Q q 0 0 0 rg BT 200.97 757.95 Td (O CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 356.68 757.95 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 447.74 757.95 Td ( ST) Tj ET Q q 0 0 0 rg BT 463.82 757.95 Td (A) Tj ET Q q 0 0 0 rg BT 471.28 757.95 Td (TEMENTS) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 32.55 Td (32) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 712.05 Td (Oral ar) Tj ET Q q 0 0 0 rg BT 81.54 712.05 Td (gument occurred in November 2018 regarding the motion to dismiss. On December 18, 2018, the trial ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 698.25 Td (court granted the defendants) Tj ET Q q 0 0 0 rg BT 183.08 698.25 Td ( motions to dismiss and entered final judgment on January 18, 2019. On February ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 684.45 Td (13, 2019, Commissioner Burns filed a notice of appeal. On July 12, 2019, Commissioner Burns filed his ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 670.65 Td (opening brief in the ) Tj ET Q q 0 0 0 rg BT 142.12 670.65 Td (Arizona Court of ) Tj ET Q q 0 0 0 rg BT 222.92 670.65 Td (Appeals. ) Tj ET Q q 0 0 0 rg BT 268.60 670.65 Td (APS filed its answering brief on October 21, 2019. ) Tj ET Q q 0 0 0 rg BT 507.94 670.65 Td (The ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 656.85 Td (Arizona Court of ) Tj ET Q q 0 0 0 rg BT 130.30 656.85 Td (Appeals originally granted the request for oral ar) Tj ET Q q 0 0 0 rg BT 354.59 656.85 Td (gument; however) Tj ET Q q 0 0 0 rg BT 434.29 656.85 Td (, on March 31, 2020, the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 643.05 Td (court vacated the date scheduled for oral ar) Tj ET Q q 0 0 0 rg BT 247.57 643.05 Td (gument given the COVID-19 pandemic. ) Tj ET Q q 0 0 0 rg BT 438.03 643.05 Td (The court determined that ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 629.25 Td (the matter could be submitted without oral ar) Tj ET Q q 0 0 0 rg BT 256.56 629.25 Td (gument and has taken the matter under advisement and will issue ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 615.45 Td (a decision without oral ar) Tj ET Q q 0 0 0 rg BT 166.18 615.45 Td (gument. ) Tj ET Q q 0 0 0 rg BT 208.66 615.45 Td (APS and Pinnacle ) Tj ET Q q 0 0 0 rg BT 294.38 615.45 Td (W) Tj ET Q q 0 0 0 rg BT 304.32 615.45 Td (est cannot predict the outcome of this matter) Tj ET Q q 0 0 0 rg BT 508.38 615.45 Td (. ) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 587.85 Td (Information Requests fr) Tj ET Q q 0 0 0 rg BT 168.12 587.85 Td (om ) Tj ET Q q 0 0 0 rg BT 185.69 587.85 Td (Arizona Corporation Commissioners ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 560.25 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 560.25 Td (On January 14, 2019, ) Tj ET Q q 0 0 0 rg BT 186.44 560.25 Td (ACC Commissioner Kennedy opened a docket to investigate campaign ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 546.45 Td (expenditures and political participation of ) Tj ET Q q 0 0 0 rg BT 243.99 546.45 Td (APS and Pinnacle ) Tj ET Q q 0 0 0 rg BT 329.71 546.45 Td (W) Tj ET Q q 0 0 0 rg BT 339.64 546.45 Td (est. In addition, on February 27, 2019, ) Tj ET Q q 0 0 0 rg BT 518.19 546.45 Td (ACC ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 532.65 Td (Commissioners Burns and Dunn opened a new docket and requested documents from ) Tj ET Q q 0 0 0 rg BT 445.54 532.65 Td (APS and Pinnacle ) Tj ET Q q 0 0 0 rg BT 531.26 532.65 Td (W) Tj ET Q q 0 0 0 rg BT 541.19 532.65 Td (est ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 518.85 Td (related to ) Tj ET Q q 0 0 0 rg BT 94.84 518.85 Td (ACC elections and charitable contributions related to the ) Tj ET Q q 0 0 0 rg BT 358.64 518.85 Td (ACC. On March 1, 2019, ) Tj ET Q q 0 0 0 rg BT 477.47 518.85 Td (ACC ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 505.05 Td (Commissioner Kennedy issued a subpoena to ) Tj ET Q q 0 0 0 rg BT 260.95 505.05 Td (APS seeking several categories of information for both Pinnacle ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 491.25 Td (W) Tj ET Q q 0 0 0 rg BT 59.43 491.25 Td (est and ) Tj ET Q q 0 0 0 rg BT 93.93 491.25 Td (APS including political contributions, lobbying expenditures, marketing and advertising ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 477.45 Td (expenditures, and contributions made to 501\(c\)\(3\) and 501\(c\)\(4\) entities, for the years 2013-2018. Pinnacle ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 463.65 Td (W) Tj ET Q q 0 0 0 rg BT 59.43 463.65 Td (est and ) Tj ET Q q 0 0 0 rg BT 93.93 463.65 Td (APS voluntarily responded to both sets of requests on March 29, 2019. ) Tj ET Q q 0 0 0 rg BT 425.17 463.65 Td (APS also received and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 449.85 Td (responded to various follow-on requests from ) Tj ET Q q 0 0 0 rg BT 261.57 449.85 Td (ACC Commissioners on these matters. Pinnacle ) Tj ET Q q 0 0 0 rg BT 488.16 449.85 Td (W) Tj ET Q q 0 0 0 rg BT 498.09 449.85 Td (est and ) Tj ET Q q 0 0 0 rg BT 532.58 449.85 Td (APS ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 436.05 Td (cannot predict the outcome of these matters. ) Tj ET Q q 0 0 0 rg BT 258.46 436.05 Td (The Company's CEO, Mr) Tj ET Q q 0 0 0 rg BT 375.53 436.05 Td (. Guldner) Tj ET Q q 0 0 0 rg BT 418.50 436.05 Td (, appeared at the ) Tj ET Q q 0 0 0 rg BT 496.09 436.05 Td (ACC's ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 422.25 Td (January 14, 2020 Open Meeting regarding ) Tj ET Q q 0 0 0 rg BT 246.55 422.25 Td (ACC Commissioners' questions about political spending. Mr) Tj ET Q q 0 0 0 rg BT 528.46 422.25 Td (. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 408.45 Td (Guldner committed to the ) Tj ET Q q 0 0 0 rg BT 170.23 408.45 Td (ACC that during his tenure, Pinnacle ) Tj ET Q q 0 0 0 rg BT 342.82 408.45 Td (W) Tj ET Q q 0 0 0 rg BT 352.75 408.45 Td (est and ) Tj ET Q q 0 0 0 rg BT 387.25 408.45 Td (APS, and any of their af) Tj ET Q q 0 0 0 rg BT 498.19 408.45 Td (filiated ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 394.65 Td (companies, will not participate in ) Tj ET Q q 0 0 0 rg BT 205.36 394.65 Td (ACC campaign elections through financial contributions or in-kind ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 380.85 Td (contributions.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 367.05 Td ( ) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 353.25 Td (Energy Modernization Plan ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 325.65 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 325.65 Td (On January 30, 2018, former ) Tj ET Q q 0 0 0 rg BT 220.60 325.65 Td (ACC Commissioner ) Tj ET Q q 0 0 0 rg BT 316.87 325.65 Td (T) Tj ET Q q 0 0 0 rg BT 323.10 325.65 Td (obin proposed the Ener) Tj ET Q q 0 0 0 rg BT 429.88 325.65 Td (gy Modernization Plan, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 311.85 Td (which consisted of a series of ener) Tj ET Q q 0 0 0 rg BT 207.69 311.85 Td (gy policies tied to clean ener) Tj ET Q q 0 0 0 rg BT 339.36 311.85 Td (gy sources such as ener) Tj ET Q q 0 0 0 rg BT 447.09 311.85 Td (gy storage, biomass, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 298.05 Td (ener) Tj ET Q q 0 0 0 rg BT 69.08 298.05 Td (gy ef) Tj ET Q q 0 0 0 rg BT 92.18 298.05 Td (ficiency) Tj ET Q q 0 0 0 rg BT 128.47 298.05 Td (, electric vehicles, and expanded ener) Tj ET Q q 0 0 0 rg BT 300.36 298.05 Td (gy planning through the integrated resource plan \("IRP"\) ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 284.25 Td (process. In ) Tj ET Q q 0 0 0 rg BT 104.44 284.25 Td (August 2018, the ) Tj ET Q q 0 0 0 rg BT 185.58 284.25 Td (ACC directed ) Tj ET Q q 0 0 0 rg BT 251.37 284.25 Td (ACC Staf) Tj ET Q q 0 0 0 rg BT 296.21 284.25 Td (f to open a new rulemaking docket which will address a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 270.45 Td (wide range of ener) Tj ET Q q 0 0 0 rg BT 135.18 270.45 Td (gy issues, including the Ener) Tj ET Q q 0 0 0 rg BT 267.52 270.45 Td (gy Modernization Plan proposals. ) Tj ET Q q 0 0 0 rg BT 425.42 270.45 Td (The rulemaking will consider ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 256.65 Td (possible modifications to existing ) Tj ET Q q 0 0 0 rg BT 206.66 256.65 Td (ACC rules, such as the RES, Electric and Gas Ener) Tj ET Q q 0 0 0 rg BT 441.84 256.65 Td (gy Ef) Tj ET Q q 0 0 0 rg BT 466.86 256.65 Td (ficiency Standards, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 242.85 Td (Net Metering, Resource Planning, and the Biennial ) Tj ET Q q 0 0 0 rg BT 287.23 242.85 Td (T) Tj ET Q q 0 0 0 rg BT 293.85 242.85 Td (ransmission ) Tj ET Q q 0 0 0 rg BT 351.04 242.85 Td (Assessment, as well as the development of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 229.05 Td (new rules regarding forest bioener) Tj ET Q q 0 0 0 rg BT 207.04 229.05 Td (gy) Tj ET Q q 0 0 0 rg BT 217.79 229.05 Td (, electric vehicles, interconnection of distributed generation, baseload ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 215.25 Td (security) Tj ET Q q 0 0 0 rg BT 85.16 215.25 Td (, blockchain technology and other technological developments, retail competition, and other ener) Tj ET Q q 0 0 0 rg BT 531.40 215.25 Td (gy-) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 201.45 Td (related topics. On ) Tj ET Q q 0 0 0 rg BT 133.18 201.45 Td (April 25, 2019, the ) Tj ET Q q 0 0 0 rg BT 222.62 201.45 Td (ACC Staf) Tj ET Q q 0 0 0 rg BT 267.46 201.45 Td (f issued a set of draft rules in regards to the Ener) Tj ET Q q 0 0 0 rg BT 490.47 201.45 Td (gy ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 187.65 Td (Modernization Plan and workshops were held on ) Tj ET Q q 0 0 0 rg BT 277.23 187.65 Td (April 29, 2019 regarding these draft rules. On July 2, 2019, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 173.85 Td (the ) Tj ET Q q 0 0 0 rg BT 65.79 173.85 Td (ACC Staf) Tj ET Q q 0 0 0 rg BT 110.63 173.85 Td (f issued a revised set of draft rules, which propose a RES goal of 45% of retail ener) Tj ET Q q 0 0 0 rg BT 493.65 173.85 Td (gy served be ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 160.05 Td (renewable by 2035 and a goal of 20% of retail sales during peak demand to be from clean ener) Tj ET Q q 0 0 0 rg BT 484.86 160.05 Td (gy resources by ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 146.25 Td (2035. ) Tj ET Q q 0 0 0 rg BT 80.92 146.25 Td (The draft rules also require a certain amount of the RES goal to be derived from distributed renewable ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 132.45 Td (storage, for which utilities would be required to of) Tj ET Q q 0 0 0 rg BT 280.84 132.45 Td (fer performance-based incentives. Nuclear ener) Tj ET Q q 0 0 0 rg BT 501.57 132.45 Td (gy would be ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 118.65 Td (considered a clean resource under the draft rules. ) Tj ET Q q 0 0 0 rg BT 277.59 118.65 Td (The ) Tj ET Q q 0 0 0 rg BT 297.71 118.65 Td (ACC held various stakeholder meetings and workshops ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 104.85 Td (on ) Tj ET Q q 0 0 0 rg BT 63.24 104.85 Td (ACC Staf) Tj ET Q q 0 0 0 rg BT 108.08 104.85 Td (f) Tj ET Q q 0 0 0 rg BT 112.54 104.85 Td () Tj ET Q q 0 0 0 rg BT 115.74 104.85 Td (s draft ener) Tj ET Q q 0 0 0 rg BT 167.25 104.85 Td (gy rules in July through September 2019. On February 18, 2020, the ) Tj ET Q q 0 0 0 rg BT 486.67 104.85 Td (ACC Staf) Tj ET Q q 0 0 0 rg BT 531.50 104.85 Td (f ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 91.05 Td (issued a revised proposed set of draft rules which would change the RES and clean ener) Tj ET Q q 0 0 0 rg BT 453.27 91.05 Td (gy goals to standards ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 77.25 Td (and would provide additional reporting and compliance requirements. In addition, ) Tj ET Q q 0 0 0 rg BT 431.78 77.25 Td (ACC Staf) Tj ET Q q 0 0 0 rg BT 476.62 77.25 Td (f proposed) Tj ET Q endstream endobj 71 0 obj <> endobj 72 0 obj <> stream BT /F2 11.50 Tf ET q 0 0 0 rg BT 84.45 757.95 Td (COMBINED NOTES ) Tj ET Q q 0 0 0 rg BT 193.51 757.95 Td (T) Tj ET Q q 0 0 0 rg BT 200.97 757.95 Td (O CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 356.68 757.95 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 447.74 757.95 Td ( ST) Tj ET Q q 0 0 0 rg BT 463.82 757.95 Td (A) Tj ET Q q 0 0 0 rg BT 471.28 757.95 Td (TEMENTS) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 32.55 Td (33) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 712.05 Td ( changing the IRP) Tj ET Q q 0 0 0 rg BT 131.80 712.05 Td ( planning horizon from 15 years to 10 years. Certain ) Tj ET Q q 0 0 0 rg BT 377.72 712.05 Td (ACC Commissioners have proposed ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 698.25 Td (dif) Tj ET Q q 0 0 0 rg BT 62.07 698.25 Td (ferent options with dif) Tj ET Q q 0 0 0 rg BT 164.39 698.25 Td (ferent implementation dates of these rules. ) Tj ET Q q 0 0 0 rg BT 364.94 698.25 Td (APS cannot predict the outcome of this ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 684.45 Td (matter) Tj ET Q q 0 0 0 rg BT 78.24 684.45 Td (.) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 656.85 Td (Integrated Resour) Tj ET Q q 0 0 0 rg BT 139.04 656.85 Td (ce Planning ) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 629.25 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 629.25 Td (ACC rules require utilities to develop 15-year IRPs which describe how the utility plans to serve ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 615.45 Td (customer load in the plan timeframe. ) Tj ET Q q 0 0 0 rg BT 224.30 615.45 Td (The ) Tj ET Q q 0 0 0 rg BT 244.42 615.45 Td (ACC reviews each utility) Tj ET Q q 0 0 0 rg BT 364.19 615.45 Td (s IRP) Tj ET Q q 0 0 0 rg BT 389.01 615.45 Td ( to determine if it meets the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 601.65 Td (necessary requirements and whether it should be acknowledged. In March of 2018, the ) Tj ET Q q 0 0 0 rg BT 453.80 601.65 Td (ACC reviewed the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 587.85 Td (2017 IRPs of its jurisdictional utilities and voted to not acknowledge any of the plans. ) Tj ET Q q 0 0 0 rg BT 449.72 587.85 Td (APS does not believe ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 574.05 Td (that this lack of acknowledgment will have a material impact on our financial position, results of operations or ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 560.25 Td (cash flows. Based on an ) Tj ET Q q 0 0 0 rg BT 165.44 560.25 Td (ACC decision, ) Tj ET Q q 0 0 0 rg BT 235.40 560.25 Td (APS was originally required to file its next IRP) Tj ET Q q 0 0 0 rg BT 452.82 560.25 Td ( by ) Tj ET Q q 0 0 0 rg BT 469.43 560.25 Td (April 1, 2020. On ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 546.45 Td (February 20, 2020, the ) Tj ET Q q 0 0 0 rg BT 156.18 546.45 Td (ACC extended the deadline for all utilities to file their IRP) Tj ET Q q 0 0 0 rg BT 428.93 546.45 Td (s from ) Tj ET Q q 0 0 0 rg BT 460.88 546.45 Td (April 1, 2020 to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 532.65 Td (June26, 2020. See "Ener) Tj ET Q q 0 0 0 rg BT 168.01 532.65 Td (gy Modernization Rules" above for information regarding proposed changes to the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 518.85 Td (IRP) Tj ET Q q 0 0 0 rg BT 66.97 518.85 Td ( filings.) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 491.25 Td (Public Utility Regulatory Policies ) Tj ET Q q 0 0 0 rg BT 214.96 491.25 Td (Act ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 463.65 Td (In ) Tj ET Q q 0 0 0 rg BT 97.32 463.65 Td (August 2016, ) Tj ET Q q 0 0 0 rg BT 161.54 463.65 Td (APS filed an application requesting that all of its contracts with qualifying facilities ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 449.85 Td (over 100 kW) Tj ET Q q 0 0 0 rg BT 109.33 449.85 Td ( be set at a presumptive maximum ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 269.98 449.85 Td (2) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 275.73 449.85 Td ( year term. ) Tj ET Q q 0 0 0 rg BT 330.33 449.85 Td (A) Tj ET Q q 0 0 0 rg BT 338.00 449.85 Td ( qualifying facility is an eligible ener) Tj ET Q q 0 0 0 rg BT 507.69 449.85 Td (gy-) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 436.05 Td (producing facility as defined by FERC regulations within a host electric utility) Tj ET Q q 0 0 0 rg BT 413.92 436.05 Td (s service territory that has a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 422.25 Td (right to sell to the host utility) Tj ET Q q 0 0 0 rg BT 182.28 422.25 Td (. Host utilities are required to purchase power from qualifying facilities at an ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 408.45 Td (avoided cost as determined by the utility subject to state commission oversight. ) Tj ET Q q 0 0 0 rg BT 419.36 408.45 Td (A) Tj ET Q q 0 0 0 rg BT 427.03 408.45 Td ( hearing was held in ) Tj ET Q q 0 0 0 rg BT 521.89 408.45 Td (August ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 394.65 Td (2019 and briefing on this matter was completed in October 2019 regarding ) Tj ET Q q 0 0 0 rg BT 395.70 394.65 Td (APS) Tj ET Q q 0 0 0 rg BT 419.99 394.65 Td (s application. On ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 380.85 Td (December17, 2019, the ) Tj ET Q q 0 0 0 rg BT 161.91 380.85 Td (ACC denied the application and mandated a minimum contract length of 18 years for ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 367.05 Td (qualifying facilities over 100 kW) Tj ET Q q 0 0 0 rg BT 201.95 367.05 Td ( and the rate paid to the qualifying facilities will be based on the long-term ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 353.25 Td (avoided cost. ) Tj ET Q q 0 0 0 rg BT 115.30 353.25 Td (APS is in discussions with qualifying facility developers but has not entered into any new ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 339.45 Td (qualifying facility agreements that would be subject to the new requirements of the ) Tj ET Q q 0 0 0 rg BT 433.69 339.45 Td (ACC's decision.) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 311.85 Td (Residential Electric Utility Customer) Tj ET Q q 0 0 0 rg BT 231.02 311.85 Td ( Service Disconnections) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 284.25 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 284.25 Td (On June 13, 2019, ) Tj ET Q q 0 0 0 rg BT 171.75 284.25 Td (APS voluntarily suspended electric disconnections for residential customers who ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 270.45 Td (had not paid their bills. On June 20, 2019, the ) Tj ET Q q 0 0 0 rg BT 264.79 270.45 Td (ACC voted to enact emer) Tj ET Q q 0 0 0 rg BT 381.46 270.45 Td (gency rule amendments to prevent ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 256.65 Td (residential electric utility customer service disconnections during the period from June 1 through October 15 ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 242.85 Td (\("Summer Disconnection Moratorium"\). During the Summer Disconnection Moratorium, ) Tj ET Q q 0 0 0 rg BT 466.12 242.85 Td (APS could not ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 229.05 Td (char) Tj ET Q q 0 0 0 rg BT 69.08 229.05 Td (ge late fees and interest on amounts that were past due from customers. Customer deposits must also be ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 215.25 Td (used to pay delinquent amounts before disconnection can occur and customers will have four months to pay ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 201.45 Td (back their deposit and any remaining delinquent amounts. In accordance with the emer) Tj ET Q q 0 0 0 rg BT 451.66 201.45 Td (gency rules, ) Tj ET Q q 0 0 0 rg BT 509.47 201.45 Td (APS began ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 187.65 Td (putting delinquent customers on a mandatory four) Tj ET Q q 0 0 0 rg BT 279.22 187.65 Td (-month payment plan beginning on October 16, 2019. ) Tj ET Q q 0 0 0 rg BT 532.30 187.65 Td (The ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 173.85 Td (emer) Tj ET Q q 0 0 0 rg BT 72.28 173.85 Td (gency rule changes will be ef) Tj ET Q q 0 0 0 rg BT 206.50 173.85 Td (fective for 180 days and may be renewed for one additional 180-day period. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 146.25 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 146.25 Td (In addition, in June 2019, the ) Tj ET Q q 0 0 0 rg BT 222.21 146.25 Td (ACC began a formal regular rulemaking process to allow stakeholder ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 132.45 Td (input and time for consideration of permanent rule changes. ) Tj ET Q q 0 0 0 rg BT 330.00 132.45 Td (The ) Tj ET Q q 0 0 0 rg BT 350.12 132.45 Td (ACC further ordered that each regulated ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 118.65 Td (electric utility serving retail customers in ) Tj ET Q q 0 0 0 rg BT 240.48 118.65 Td (Arizona update its service conditions by incorporating the emer) Tj ET Q q 0 0 0 rg BT 532.80 118.65 Td (gency ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 104.85 Td (rule amendments, restore power to any customers who were disconnected during the month of June 2019 and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 91.05 Td (credit any fees that were char) Tj ET Q q 0 0 0 rg BT 184.34 91.05 Td (ged for a reconnection. ) Tj ET Q q 0 0 0 rg BT 295.89 91.05 Td (The ) Tj ET Q q 0 0 0 rg BT 316.01 91.05 Td (ACC Staf) Tj ET Q q 0 0 0 rg BT 360.85 91.05 Td (f issued draft amendments to the customer ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 77.25 Td (service disconnections rules. Stakeholders submitted initial comments to the draft amendments on ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 63.45 Td (September23, 2019. ) Tj ET Q q 0 0 0 rg BT 149.80 63.45 Td (ACC stakeholder meetings were held in September 2019, October 2019 and January ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 49.65 Td (2020 regarding the customer service disconnections rules. ) Tj ET Q endstream endobj 73 0 obj <> endobj 74 0 obj <> stream BT /F2 11.50 Tf ET q 0 0 0 rg BT 84.45 757.95 Td (COMBINED NOTES ) Tj ET Q q 0 0 0 rg BT 193.51 757.95 Td (T) Tj ET Q q 0 0 0 rg BT 200.97 757.95 Td (O CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 356.68 757.95 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 447.74 757.95 Td ( ST) Tj ET Q q 0 0 0 rg BT 463.82 757.95 Td (A) Tj ET Q q 0 0 0 rg BT 471.28 757.95 Td (TEMENTS) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 32.55 Td (34) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 712.05 Td (Although the emer) Tj ET Q q 0 0 0 rg BT 135.52 712.05 Td (gency rules expired in December2019, the Summer Disconnection Moratorium will remain ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 698.25 Td (in ef) Tj ET Q q 0 0 0 rg BT 70.05 698.25 Td (fect through utility tarif) Tj ET Q q 0 0 0 rg BT 178.10 698.25 Td (fs for 2020 and beyond until the ) Tj ET Q q 0 0 0 rg BT 327.90 698.25 Td (ACC adopts permanent rules or determines ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 684.45 Td (otherwise.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 656.85 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 656.85 Td (Due to the COVID-19 pandemic, ) Tj ET Q q 0 0 0 rg BT 240.72 656.85 Td (APS has voluntarily suspended disconnections of customers for ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 643.05 Td (nonpayment beginning March 13, 2020. ) Tj ET Q q 0 0 0 rg BT 239.22 643.05 Td (APS currently estimates that the Summer Disconnection Moratorium, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 629.25 Td (the suspension of disconnections during the COVID-19 pandemic and the increased bad debt expense ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 615.45 Td (associated with both events will result in a negative impact to its 2020 operating results of approximately) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 535.92 615.45 Td ($20) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 553.17 615.45 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 601.65 Td (to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 61.32 601.65 Td ($30 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 114.67 601.65 Td (pre-tax above the impact of disconnections on its operating results for years that did not have ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 587.85 Td (the Summer Disconnection Moratorium or COVID-19 pandemic. ) Tj ET Q q 0 0 0 rg BT 356.22 587.85 Td (These estimated impact amounts depend on ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 574.05 Td (certain assumptions, including customer behaviors, the impacts of COVID-19 on the economy not extending ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 560.25 Td (into 2021 and the results of final rulemaking related to the Summer Disconnection Moratorium. See ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 546.45 Td ("COVID-19 Pandemic" above for more information.) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 518.85 Td (Retail Electric Competition Rules) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 497.05 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 497.05 Td (On November 17, 2018, the ) Tj ET Q q 0 0 0 rg BT 216.13 497.05 Td (ACC voted to re-examine the facilitation of a deregulated retail electric ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 483.25 Td (market in ) Tj ET Q q 0 0 0 rg BT 95.49 483.25 Td (Arizona. ) Tj ET Q q 0 0 0 rg BT 140.52 483.25 Td (An ) Tj ET Q q 0 0 0 rg BT 156.82 483.25 Td (ACC special open meeting workshop was held on December 3, 2018. No substantive ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 469.45 Td (action was taken, but interested parties were asked to submit written comments and respond to a list of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 455.65 Td (questions from ) Tj ET Q q 0 0 0 rg BT 120.42 455.65 Td (ACC Staf) Tj ET Q q 0 0 0 rg BT 165.26 455.65 Td (f. On July 1 and July 2, 2019, ) Tj ET Q q 0 0 0 rg BT 303.58 455.65 Td (ACC Staf) Tj ET Q q 0 0 0 rg BT 348.42 455.65 Td (f issued a report and initial proposed draft ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 441.85 Td (rules regarding possible modifications to the ) Tj ET Q q 0 0 0 rg BT 256.47 441.85 Td (ACC) Tj ET Q q 0 0 0 rg BT 283.31 441.85 Td (s retail electric competition rules. Interested parties filed ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 428.05 Td (comments to the ) Tj ET Q q 0 0 0 rg BT 127.76 428.05 Td (ACC Staf) Tj ET Q q 0 0 0 rg BT 172.60 428.05 Td (f report and a stakeholder meeting and workshop to discuss the retail electric ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 414.25 Td (competition rules was held on July 30, 2019. ) Tj ET Q q 0 0 0 rg BT 260.64 414.25 Td (ACC Commissioners submitted additional questions regarding ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 400.45 Td (this matter) Tj ET Q q 0 0 0 rg BT 97.73 400.45 Td (. On February 10, 2020, two ) Tj ET Q q 0 0 0 rg BT 233.17 400.45 Td (ACC Commissioners filed two sets of draft proposed retail electric ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 386.65 Td (competition rules. On February 12, 2020, ) Tj ET Q q 0 0 0 rg BT 244.98 386.65 Td (ACC staf) Tj ET Q q 0 0 0 rg BT 287.89 386.65 Td (f issued its second report regarding possible modifications ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 372.85 Td (to the ) Tj ET Q q 0 0 0 rg BT 77.61 372.85 Td (ACC) Tj ET Q q 0 0 0 rg BT 104.45 372.85 Td (s retail electric competition rules. ) Tj ET Q q 0 0 0 rg BT 263.59 372.85 Td (The ) Tj ET Q q 0 0 0 rg BT 283.71 372.85 Td (ACC held a workshop on February 25-26, 2020 for further ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 359.05 Td (consideration and discussion of the retail electric competition rules. ) Tj ET Q q 0 0 0 rg BT 365.35 359.05 Td (APS cannot predict whether these ef) Tj ET Q q 0 0 0 rg BT 532.80 359.05 Td (forts ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 345.25 Td (will result in any changes and, if changes to the rules results, what impact these rules would have on ) Tj ET Q q 0 0 0 rg BT 512.91 345.25 Td (APS. ) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 317.65 Td (Rate Plan Comparison ) Tj ET Q q 0 0 0 rg BT 163.98 317.65 Td (T) Tj ET Q q 0 0 0 rg BT 170.59 317.65 Td (ool) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 290.05 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 290.05 Td (On November 14, 2019, ) Tj ET Q q 0 0 0 rg BT 199.21 290.05 Td (APS learned that its rate plan comparison tool was not functioning as intended ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 276.25 Td (due to an integration error between the tool and the Company) Tj ET Q q 0 0 0 rg BT 335.64 276.25 Td (s meter data management system. ) Tj ET Q q 0 0 0 rg BT 495.64 276.25 Td (APS ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 262.45 Td (immediately removed the tool from its website and notified the ) Tj ET Q q 0 0 0 rg BT 342.05 262.45 Td (ACC. ) Tj ET Q q 0 0 0 rg BT 374.11 262.45 Td (The purpose of the tool was to provide ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 248.65 Td (customers with a rate plan recommendation based upon historical usage data. Upon investigation, ) Tj ET Q q 0 0 0 rg BT 503.64 248.65 Td (APS ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 234.85 Td (determined that the error may have af) Tj ET Q q 0 0 0 rg BT 222.35 234.85 Td (fected rate plan recommendations to customers between February 4, 2019 ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 221.05 Td (and November 14, 2019. ) Tj ET Q q 0 0 0 rg BT 168.63 221.05 Td (APS is providing refunds to approximately ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 369.23 221.05 Td (13,000) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 400.86 221.05 Td ( potentially impacted customers ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 207.25 Td (equal to the dif) Tj ET Q q 0 0 0 rg BT 118.59 207.25 Td (ference between what they paid for electricity and the amount they would have paid had they ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 193.45 Td (selected their most economical rate, as applicable, and a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 310.38 193.45 Td ($25) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 327.63 193.45 Td ( payment for any inconvenience that the customer ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 179.65 Td (may have experienced. ) Tj ET Q q 0 0 0 rg BT 160.72 179.65 Td (The refunds and payment for inconvenience being provided is not expected to have a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 165.85 Td (material impact on ) Tj ET Q q 0 0 0 rg BT 137.96 165.85 Td (APS's financial statements. ) Tj ET Q q 0 0 0 rg BT 265.25 165.85 Td (APS developed a new tool for comparing customers) Tj ET Q q 0 0 0 rg BT 508.08 165.85 Td ( rate plan ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 152.05 Td (options. ) Tj ET Q q 0 0 0 rg BT 91.36 152.05 Td (APS had an independent third party verify that the new rate comparison tool works correctly) Tj ET Q q 0 0 0 rg BT 516.64 152.05 Td (. In ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 138.25 Td (February 2020, ) Tj ET Q q 0 0 0 rg BT 122.00 138.25 Td (APS launched the new online rate comparison tool, which is now available for its customers. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 124.45 Td (The ) Tj ET Q q 0 0 0 rg BT 69.62 124.45 Td (ACC is currently investigating this matter and has hired an outside consultant to evaluate the extent of the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 110.65 Td (error and the overall ef) Tj ET Q q 0 0 0 rg BT 154.65 110.65 Td (fectiveness of the tool. ) Tj ET Q q 0 0 0 rg BT 263.88 110.65 Td (APS received a civil investigative demand from the Of) Tj ET Q q 0 0 0 rg BT 515.96 110.65 Td (fice of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 96.85 Td (the ) Tj ET Q q 0 0 0 rg BT 65.79 96.85 Td (Arizona ) Tj ET Q q 0 0 0 rg BT 105.07 96.85 Td (Attorney General, Civil Litigation Division, Consumer Protection & ) Tj ET Q q 0 0 0 rg BT 421.93 96.85 Td (Advocacy Section that seeks ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 83.05 Td (information pertaining to the rate plan comparison tool of) Tj ET Q q 0 0 0 rg BT 314.37 83.05 Td (fered to ) Tj ET Q q 0 0 0 rg BT 352.04 83.05 Td (APS customers. ) Tj ET Q q 0 0 0 rg BT 430.64 83.05 Td (APS is fully cooperating ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 69.25 Td (with the ) Tj ET Q q 0 0 0 rg BT 89.11 69.25 Td (Attorney General) Tj ET Q q 0 0 0 rg BT 172.46 69.25 Td (s Of) Tj ET Q q 0 0 0 rg BT 191.73 69.25 Td (fice in this matter) Tj ET Q q 0 0 0 rg BT 271.89 69.25 Td (. ) Tj ET Q q 0 0 0 rg BT 279.88 69.25 Td (APS cannot predict the outcome of these matters.) Tj ET Q endstream endobj 75 0 obj <> endobj 76 0 obj <> stream BT /F2 11.50 Tf ET q 0 0 0 rg BT 84.45 757.95 Td (COMBINED NOTES ) Tj ET Q q 0 0 0 rg BT 193.51 757.95 Td (T) Tj ET Q q 0 0 0 rg BT 200.97 757.95 Td (O CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 356.68 757.95 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 447.74 757.95 Td ( ST) Tj ET Q q 0 0 0 rg BT 463.82 757.95 Td (A) Tj ET Q q 0 0 0 rg BT 471.28 757.95 Td (TEMENTS) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 32.55 Td (35) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 712.25 Td (Four) Tj ET Q q 0 0 0 rg BT 73.57 712.25 Td ( Corners SCR Cost Recovery) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 684.65 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 684.65 Td (On December 29, 2017, in accordance with the 2017 Rate Case Decision, ) Tj ET Q q 0 0 0 rg BT 426.25 684.65 Td (APS filed a Notice of Intent ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 670.85 Td (to file its SCR ) Tj ET Q q 0 0 0 rg BT 117.24 670.85 Td (Adjustment to permit recovery of costs associated with the installation of SCR equipment at ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 657.05 Td (Four Corners Units 4 and 5. ) Tj ET Q q 0 0 0 rg BT 183.03 657.05 Td (APS filed the SCR ) Tj ET Q q 0 0 0 rg BT 271.85 657.05 Td (Adjustment request in ) Tj ET Q q 0 0 0 rg BT 375.66 657.05 Td (April 2018. Consistent with the 2017 ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 643.25 Td (Rate Case Decision, the request was narrow in scope and addressed only costs associated with this specific ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 629.45 Td (environmental compliance equipment. ) Tj ET Q q 0 0 0 rg BT 231.64 629.45 Td (The SCR ) Tj ET Q q 0 0 0 rg BT 276.37 629.45 Td (Adjustment request provided that there would be a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 512.07 629.45 Td ($67.5 ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 615.65 Td (million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 82.73 615.65 Td ( annual revenue impact that would be applied as a percentage of base rates for all applicable customers. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 601.85 Td (Also, as provided for in the 2017 Rate Case Decision, ) Tj ET Q q 0 0 0 rg BT 299.27 601.85 Td (APS requested that the adjustment become ef) Tj ET Q q 0 0 0 rg BT 507.92 601.85 Td (fective no ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 588.05 Td (later than January 1, 2019. ) Tj ET Q q 0 0 0 rg BT 177.04 588.05 Td (The hearing for this matter occurred in September 2018. ) Tj ET Q q 0 0 0 rg BT 441.14 588.05 Td (At the hearing, ) Tj ET Q q 0 0 0 rg BT 512.04 588.05 Td (APS ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 574.25 Td (accepted ) Tj ET Q q 0 0 0 rg BT 91.96 574.25 Td (ACC Staf) Tj ET Q q 0 0 0 rg BT 136.80 574.25 Td (f's recommendation of a lower annual revenue impact of approximately ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 468.42 574.25 Td ($58.5 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 530.40 574.25 Td (. ) Tj ET Q q 0 0 0 rg BT 538.81 574.25 Td (The ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 560.45 Td (Administrative Law Judge issued a Recommended Opinion and Order finding that the costs for the SCR ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 546.65 Td (project were prudently incurred and recommending authorization of the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 381.92 546.65 Td ($58.5 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 443.90 546.65 Td ( annual revenue ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 532.85 Td (requirement related to the installation and operation of the SCRs. Exceptions to the Recommended Opinion ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 519.05 Td (and Order were filed by the parties and intervenors on December 7, 2018. ) Tj ET Q q 0 0 0 rg BT 394.18 519.05 Td (The ) Tj ET Q q 0 0 0 rg BT 414.30 519.05 Td (ACC has not issued a decision ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 505.25 Td (on this matter) Tj ET Q q 0 0 0 rg BT 112.11 505.25 Td (. ) Tj ET Q q 0 0 0 rg BT 120.10 505.25 Td (APS included the costs for the SCR project in the retail rate base in its 2019 retail rate case ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 491.45 Td (filing with the ) Tj ET Q q 0 0 0 rg BT 116.90 491.45 Td (ACC. On March 18, 2020, the ) Tj ET Q q 0 0 0 rg BT 261.28 491.45 Td (ACC agreed to take administrative notice to include in the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 477.65 Td (pending rate case portions of the record in this prior proceeding that are relevant to the SCRs. ) Tj ET Q q 0 0 0 rg BT 484.79 477.65 Td (APS cannot ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 463.85 Td (predict the outcome or timing of the decision on this matter) Tj ET Q q 0 0 0 rg BT 322.25 463.85 Td (. ) Tj ET Q q 0 0 0 rg BT 330.24 463.85 Td (APS may be required to record a char) Tj ET Q q 0 0 0 rg BT 503.43 463.85 Td (ge to its ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 450.05 Td (results of operations if the ) Tj ET Q q 0 0 0 rg BT 171.83 450.05 Td (ACC issues an unfavorable decision \(see SCR deferral in the Regulatory ) Tj ET Q q 0 0 0 rg BT 508.13 450.05 Td (Assets and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 436.25 Td (Liabilities table below\).) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 408.65 Td (Cholla) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 381.05 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 381.05 Td (On September 1) Tj ET Q q 0 0 0 rg BT 159.81 381.05 Td (1, 2014, ) Tj ET Q q 0 0 0 rg BT 199.42 381.05 Td (APS announced that it would close Unit 2 of the Cholla Power Plant ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 367.25 Td (\("Cholla"\) and cease burning coal at the other ) Tj ET Q q 0 0 0 rg BT 261.99 367.25 Td (APS-owned units \(Units 1 and 3\) at the plant by the mid-2020s, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 353.45 Td (if the United States Environmental Protection ) Tj ET Q q 0 0 0 rg BT 261.58 353.45 Td (Agency \("EP) Tj ET Q q 0 0 0 rg BT 321.11 353.45 Td (A"\) approved a compromise proposal of) Tj ET Q q 0 0 0 rg BT 506.03 353.45 Td (fered by ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 339.65 Td (APS to meet required environmental and emissions standards and rules. On ) Tj ET Q q 0 0 0 rg BT 401.79 339.65 Td (April 14, 2015, the ) Tj ET Q q 0 0 0 rg BT 491.23 339.65 Td (ACC approved ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 325.85 Td (APS's plan to retire Unit 2, without expressing any view on the future recoverability of ) Tj ET Q q 0 0 0 rg BT 451.44 325.85 Td (APS's remaining ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 312.05 Td (investment in the unit. ) Tj ET Q q 0 0 0 rg BT 157.47 312.05 Td (APS closed Unit 2 on October 1, 2015. In early 2017, EP) Tj ET Q q 0 0 0 rg BT 422.48 312.05 Td (A) Tj ET Q q 0 0 0 rg BT 430.15 312.05 Td ( approved a final rule ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 298.25 Td (incorporating ) Tj ET Q q 0 0 0 rg BT 113.69 298.25 Td (APS's compromise proposal, which took ef) Tj ET Q q 0 0 0 rg BT 312.32 298.25 Td (fect on ) Tj ET Q q 0 0 0 rg BT 346.17 298.25 Td (April 26, 2017. In December 2019, PacifiCorp ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 284.45 Td (notified ) Tj ET Q q 0 0 0 rg BT 87.51 284.45 Td (APS that it plans to retire Cholla Unit 4 by the end of 2020.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 256.85 Td (Previously) Tj ET Q q 0 0 0 rg BT 133.95 256.85 Td (, ) Tj ET Q q 0 0 0 rg BT 139.07 256.85 Td (APS estimated Cholla Unit 2) Tj ET Q q 0 0 0 rg BT 275.79 256.85 Td (s end of life to be 2033. ) Tj ET Q q 0 0 0 rg BT 389.81 256.85 Td (APS has been recovering a return on ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 243.05 Td (and of the net book value of the unit in base rates. Pursuant to the 2017 Settlement ) Tj ET Q q 0 0 0 rg BT 433.72 243.05 Td (Agreement described ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 229.25 Td (above, ) Tj ET Q q 0 0 0 rg BT 82.07 229.25 Td (APS will be allowed continued recovery of the net book value of the unit and the unit) Tj ET Q q 0 0 0 rg BT 478.74 229.25 Td (s ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 215.45 Td (decommissioning and other retirement-related costs \() Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 294.44 215.45 Td ($69 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 347.79 215.45 Td ( as of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 375.58 215.45 Td (March31, 2020) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 448.72 215.45 Td (\), in addition to a return ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 201.65 Td (on its investment. In accordance with GAAP) Tj ET Q q 0 0 0 rg BT 257.10 201.65 Td (, in the third quarter of 2014, Unit 2) Tj ET Q q 0 0 0 rg BT 425.10 201.65 Td (s remaining net book value ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 187.85 Td (was reclassified from property) Tj ET Q q 0 0 0 rg BT 188.94 187.85 Td (, plant and equipment to a regulatory asset. ) Tj ET Q q 0 0 0 rg BT 392.17 187.85 Td (The 2017 Settlement ) Tj ET Q q 0 0 0 rg BT 490.22 187.85 Td (Agreement ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 174.05 Td (also shortened the depreciation lives of Cholla Units 1 and 3 to 2025. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 148.25 Td (On March 20, 2019, ) Tj ET Q q 0 0 0 rg BT 180.69 148.25 Td (APS announced that it began evaluating the feasibility and cost of converting a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 134.45 Td (unit at Cholla to burn biomass. Biomass is a fuel comprised of forest trimmings, and a converted unit at Cholla ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 120.65 Td (could assist in forest thinning, responsible forest management, an improved watershed, and a reduced wildfire ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 106.85 Td (risk. ) Tj ET Q q 0 0 0 rg BT 71.87 106.85 Td (APS) Tj ET Q q 0 0 0 rg BT 96.16 106.85 Td (s ability to operate a biomass power plant would depend on third-parties procuring forest biomass for ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 93.05 Td (fuel. ) Tj ET Q q 0 0 0 rg BT 72.50 93.05 Td (APS reported the results of its evaluation on May 9, 2019 to the ) Tj ET Q q 0 0 0 rg BT 368.27 93.05 Td (ACC. On July 10, 2019, the ) Tj ET Q q 0 0 0 rg BT 501.81 93.05 Td (ACC voted ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 79.25 Td (to not require ) Tj ET Q q 0 0 0 rg BT 113.69 79.25 Td (APS to file a request for proposal to convert the unit at Cholla to burn biomass. ) Tj ET Q endstream endobj 77 0 obj <> endobj 78 0 obj <> stream BT /F2 11.50 Tf ET q 0 0 0 rg BT 84.45 757.95 Td (COMBINED NOTES ) Tj ET Q q 0 0 0 rg BT 193.51 757.95 Td (T) Tj ET Q q 0 0 0 rg BT 200.97 757.95 Td (O CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 356.68 757.95 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 447.74 757.95 Td ( ST) Tj ET Q q 0 0 0 rg BT 463.82 757.95 Td (A) Tj ET Q q 0 0 0 rg BT 471.28 757.95 Td (TEMENTS) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 32.55 Td (36) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 49.50 712.60 Td (Navajo Plant) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 686.80 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 686.80 Td (The co-owners of the Navajo Plant and the Navajo Nation agreed that the Navajo Plant would remain ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 673.00 Td (in operation until December 2019 under the existing plant lease. ) Tj ET Q q 0 0 0 rg BT 350.13 673.00 Td (The co-owners and the Navajo Nation ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 659.20 Td (executed a lease extension on November 29, 2017 that allows for decommissioning activities to begin after the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 645.40 Td (plant ceased operations in November 2019.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 631.60 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 617.80 Td (APS is currently recovering depreciation and a return on the net book value of its interest in the Navajo ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 604.00 Td (Plant over its previously estimated life through 2026. ) Tj ET Q q 0 0 0 rg BT 299.28 604.00 Td (APS will seek continued recovery in rates for the book ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 590.20 Td (value of its remaining investment in the plant \() Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 264.76 590.20 Td ($79 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 318.11 590.20 Td ( as of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 345.90 590.20 Td (March31, 2020) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 419.04 590.20 Td (\) plus a return on the net book ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 576.40 Td (value as well as other costs related to retirement and closure, which are still being assessed and may be ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 562.60 Td (material. ) Tj ET Q q 0 0 0 rg BT 95.17 562.60 Td (APS believes it will be allowed recovery of the net book value, in addition to a return on its ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 548.80 Td (investment. In accordance with GAAP) Tj ET Q q 0 0 0 rg BT 228.98 548.80 Td (, in the second quarter of 2017, ) Tj ET Q q 0 0 0 rg BT 374.30 548.80 Td (APS's remaining net book value of its ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 535.00 Td (interest in the Navajo Plant was reclassified from property) Tj ET Q q 0 0 0 rg BT 317.01 535.00 Td (, plant and equipment to a regulatory asset. If the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 521.20 Td (ACC does not allow full recovery of the remaining net book value of this interest, all or a portion of the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 507.40 Td (regulatory asset will be written of) Tj ET Q q 0 0 0 rg BT 204.18 507.40 Td (f and ) Tj ET Q q 0 0 0 rg BT 229.73 507.40 Td (APS's net income, cash flows, and financial position will be negatively ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 493.60 Td (impacted. ) Tj ET Q endstream endobj 79 0 obj <> endobj 80 0 obj <> stream BT /F2 11.50 Tf ET q 0 0 0 rg BT 84.45 757.95 Td (COMBINED NOTES ) Tj ET Q q 0 0 0 rg BT 193.51 757.95 Td (T) Tj ET Q q 0 0 0 rg BT 200.97 757.95 Td (O CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 356.68 757.95 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 447.74 757.95 Td ( ST) Tj ET Q q 0 0 0 rg BT 463.82 757.95 Td (A) Tj ET Q q 0 0 0 rg BT 471.28 757.95 Td (TEMENTS) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 32.55 Td (37) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 712.25 Td (Regulatory ) Tj ET Q q 0 0 0 rg BT 106.68 712.25 Td (Assets and Liabilities) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 210.84 712.25 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 686.45 Td (The detail of regulatory assets is as follows \(dollars in thousands\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 625.95 193.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 243.00 625.95 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 307.00 625.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 311.00 625.95 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 371.00 625.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 375.00 625.95 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.00 625.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 625.95 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.00 625.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 625.95 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 595.95 193.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 243.00 595.95 64.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 307.00 595.95 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 311.00 595.95 60.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 371.00 595.95 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 375.00 595.95 60.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.00 595.95 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 595.95 60.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.00 595.95 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 595.95 60.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 545.95 193.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 243.00 545.95 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 307.00 545.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 311.00 545.95 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 371.00 545.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 375.00 545.95 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.00 545.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 545.95 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.00 545.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 545.95 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 515.95 193.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 243.00 515.95 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 307.00 515.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 311.00 515.95 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 371.00 515.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 375.00 515.95 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.00 515.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 515.95 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.00 515.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 515.95 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 485.95 193.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 243.00 485.95 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 307.00 485.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 311.00 485.95 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 371.00 485.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 375.00 485.95 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.00 485.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 485.95 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.00 485.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 485.95 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 455.95 193.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 243.00 455.95 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 307.00 455.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 311.00 455.95 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 371.00 455.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 375.00 455.95 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.00 455.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 455.95 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.00 455.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 455.95 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 415.95 193.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 243.00 415.95 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 307.00 415.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 311.00 415.95 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 371.00 415.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 375.00 415.95 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.00 415.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 415.95 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.00 415.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 415.95 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 385.95 193.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 243.00 385.95 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 307.00 385.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 311.00 385.95 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 371.00 385.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 375.00 385.95 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.00 385.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 385.95 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.00 385.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 385.95 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 345.95 193.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 243.00 345.95 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 307.00 345.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 311.00 345.95 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 371.00 345.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 375.00 345.95 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.00 345.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 345.95 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.00 345.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 345.95 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 315.95 193.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 243.00 315.95 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 307.00 315.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 311.00 315.95 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 371.00 315.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 375.00 315.95 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.00 315.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 315.95 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.00 315.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 315.95 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 285.95 193.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 243.00 285.95 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 307.00 285.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 311.00 285.95 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 371.00 285.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 375.00 285.95 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.00 285.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 285.95 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.00 285.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 285.95 60.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 311 649.95 m 371 649.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 371 649.95 m 375 649.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 375 649.95 m 435 649.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 649.95 m 499 649.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499 649.95 m 503 649.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503 649.95 m 563 649.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 243 625.95 m 307 625.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 311 625.95 m 371 625.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 375 625.95 m 435 625.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 625.95 m 499 625.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503 649.95 m 563 649.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503 625.95 m 563 625.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 311 625.95 m 371 625.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 375 625.95 m 435 625.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 625.95 m 499 625.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503 625.95 m 563 625.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 311 270.95000000000005 m 371 270.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 311 256.95000000000005 m 371 256.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 311 254.95000000000005 m 371 254.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 375 270.95000000000005 m 435 270.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 375 256.95000000000005 m 435 256.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 375 254.95000000000005 m 435 254.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 270.95000000000005 m 499 270.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 256.95000000000005 m 499 256.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 254.95000000000005 m 499 254.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503 270.95000000000005 m 563 270.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503 256.95000000000005 m 563 256.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503 254.95000000000005 m 563 254.95000000000005 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 654.63 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 245.85 640.63 Td (Amortization) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 255.65 630.63 Td (Thr) Tj ET Q q 0 0 0 rg BT 272.23 630.63 Td (ough) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 339.40 654.63 Td (Mar) Tj ET Q q 0 0 0 rg BT 358.19 654.63 Td (ch 31, 2020) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 460.15 654.63 Td (December) Tj ET Q q 0 0 0 rg BT 503.37 654.63 Td ( 31, 2019) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 630.63 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 323.05 630.63 Td (Curr) Tj ET Q q 0 0 0 rg BT 344.62 630.63 Td (ent) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 393.90 640.63 Td (Non-) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 387.05 630.63 Td (Curr) Tj ET Q q 0 0 0 rg BT 408.62 630.63 Td (ent) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 451.05 630.63 Td (Curr) Tj ET Q q 0 0 0 rg BT 472.62 630.63 Td (ent) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 521.90 640.63 Td (Non-) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 515.05 630.63 Td (Curr) Tj ET Q q 0 0 0 rg BT 536.53 630.63 Td (ent) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 615.62 Td (Pension) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.40 615.62 Td (\(a\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 313.50 615.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 357.15 615.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 377.50 615.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 398.65 615.62 Td (652,691) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 441.50 615.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.15 615.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.50 615.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 615.62 Td (660,223) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 600.62 Td (Retired power plant costs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 283.50 600.62 Td (2033) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 600.62 Td (28,182) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 398.65 600.62 Td (135,349) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.65 600.62 Td (28,182) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 600.62 Td (142,503) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 585.62 Td (Income taxes allowance for funds used) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 575.62 Td (during construction \("AFUDC"\) equity) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 283.50 575.62 Td (2050) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 344.65 575.62 Td (6,815) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 398.65 575.62 Td (155,369) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.65 575.62 Td (6,800) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 575.62 Td (154,974) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 560.62 Td (Deferred fuel and purchased power mark-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 550.62 Td (to-market \(Note 7\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 283.50 550.62 Td (2024) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 550.62 Td (51,954) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.65 550.62 Td (32,576) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.65 550.62 Td (36,887) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 550.62 Td (33,185) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 535.62 Td (Deferred fuel and purchased power \(b\) \(c\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 283.50 535.62 Td (2021) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 535.62 Td (77,730) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.15 535.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.65 535.62 Td (70,137) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.15 535.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 520.62 Td (Deferred property taxes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 283.50 520.62 Td (2027) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 344.65 520.62 Td (8,569) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.65 520.62 Td (56,053) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.65 520.62 Td (8,569) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 520.62 Td (58,196) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 505.62 Td (SCR deferral) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 286.80 505.62 Td (N/A) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 357.15 505.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.65 505.62 Td (58,258) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.15 505.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 505.62 Td (52,644) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 490.62 Td (Ocotillo deferral) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 286.80 490.62 Td (N/A) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 357.15 490.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.65 490.62 Td (51,767) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.15 490.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 490.62 Td (38,144) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 475.62 Td (Four Corners cost deferral) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 283.50 475.62 Td (2024) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 344.65 475.62 Td (8,077) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.65 475.62 Td (30,133) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.65 475.62 Td (8,077) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 475.62 Td (32,152) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 460.62 Td (Deferred compensation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 283.50 460.62 Td (2036) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 357.15 460.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.65 460.62 Td (37,550) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.15 460.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 460.62 Td (36,464) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 445.62 Td (Lost fixed cost recovery \(b\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 283.50 445.62 Td (2021) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 445.62 Td (28,885) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.15 445.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.65 445.62 Td (26,067) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.15 445.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 430.62 Td (Income taxes investment tax credit basis) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 420.62 Td (adjustment) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 283.50 420.62 Td (2048) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 344.65 420.62 Td (1,098) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.65 420.62 Td (24,920) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.65 420.62 Td (1,098) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 420.62 Td (24,981) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 405.62 Td (Palo ) Tj ET Q q 0 0 0 rg BT 72.69 405.62 Td (V) Tj ET Q q 0 0 0 rg BT 79.27 405.62 Td (erde ) Tj ET Q q 0 0 0 rg BT 98.33 405.62 Td (VIEs \(Note 6\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 283.50 405.62 Td (2046) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 357.15 405.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.65 405.62 Td (20,790) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.15 405.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 405.62 Td (20,635) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 390.62 Td (Coal reclamation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 283.50 390.62 Td (2026) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 344.65 390.62 Td (1,068) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.65 390.62 Td (17,800) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.65 390.62 Td (1,546) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 390.62 Td (17,688) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 375.62 Td (Loss on reacquired debt) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 283.50 375.62 Td (2038) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 344.65 375.62 Td (1,637) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.65 375.62 Td (1) Tj ET Q q 0 0 0 rg BT 408.65 375.62 Td (1,636) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.65 375.62 Td (1,637) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 375.62 Td (12,031) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 360.62 Td (Mead-Phoenix transmission line contributions) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 350.62 Td (in aid of construction \("CIAC"\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 283.50 350.62 Td (2050) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 352.15 350.62 Td (332) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 408.65 350.62 Td (9,629) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.15 350.62 Td (332) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.65 350.62 Td (9,712) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 335.62 Td (TCA) Tj ET Q q 0 0 0 rg BT 72.22 335.62 Td ( balancing account \(b\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 283.50 335.62 Td (2021) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 344.65 335.62 Td (6,048) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 408.65 335.62 Td (1,027) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.65 335.62 Td (6,324) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.65 335.62 Td (2,885) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 320.62 Td (T) Tj ET Q q 0 0 0 rg BT 58.26 320.62 Td (ax expense of Medicare subsidy) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 283.50 320.62 Td (2024) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 344.65 320.62 Td (1,238) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 408.65 320.62 Td (4,881) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.65 320.62 Td (1,235) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.65 320.62 Td (4,940) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 305.62 Td (AG-1 deferral) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 283.50 305.62 Td (2022) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 344.65 305.62 Td (2,787) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 408.65 305.62 Td (2,019) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.65 305.62 Td (2,787) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.65 305.62 Td (2,716) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 290.62 Td (T) Tj ET Q q 0 0 0 rg BT 58.26 290.62 Td (ax expense adjuster mechanism \(b\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 283.50 290.62 Td (2020) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 352.15 290.62 Td (942) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.15 290.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.65 290.62 Td (1,612) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.15 290.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 275.62 Td (Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 272.90 275.62 Td (V) Tj ET Q q 0 0 0 rg BT 279.01 275.62 Td (arious) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 352.15 275.62 Td (109) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.15 275.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.65 275.62 Td (1,917) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.15 275.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 261.07 Td (T) Tj ET Q q 0 0 0 rg BT 63.91 261.07 Td (otal regulatory assets \(d\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.50 260.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 313.50 260.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.65 260.62 Td (225,471) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 377.50 260.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.10 260.62 Td (1,302,448) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 441.50 260.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.65 260.62 Td (203,207) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.50 260.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.10 260.62 Td (1,304,073) Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 67.50 228.85 Td (\(a\) ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 228.85 Td (This asset represents the future recovery of pension benefit obligations through retail rates. If these ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 215.05 Td (costs are disallowed by the ) Tj ET Q q 0 0 0 rg BT 211.66 215.05 Td (ACC, this regulatory asset would be char) Tj ET Q q 0 0 0 rg BT 400.84 215.05 Td (ged to other comprehensive ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 201.25 Td (income \("OCI"\) and result in lower future revenues.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 67.50 187.45 Td (\(b\) ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 187.45 Td (See "Cost Recovery Mechanisms" discussion above.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 67.50 173.65 Td (\(c\) ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 173.65 Td (Subject to a carrying char) Tj ET Q q 0 0 0 rg BT 203.44 173.65 Td (ge.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 67.50 159.85 Td (\(d\) ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 159.85 Td (There are no regulatory assets for which the ) Tj ET Q q 0 0 0 rg BT 289.87 159.85 Td (ACC has allowed recovery of costs, but not allowed a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 146.05 Td (return by exclusion from rate base. FERC rates are set using a formula rate as described in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 132.25 Td ("T) Tj ET Q q 0 0 0 rg BT 96.81 132.25 Td (ransmission Rates, ) Tj ET Q q 0 0 0 rg BT 185.73 132.25 Td (T) Tj ET Q q 0 0 0 rg BT 192.35 132.25 Td (ransmission Cost ) Tj ET Q q 0 0 0 rg BT 273.50 132.25 Td (Adjustor and Other ) Tj ET Q q 0 0 0 rg BT 364.96 132.25 Td (T) Tj ET Q q 0 0 0 rg BT 371.58 132.25 Td (ransmission Matters.") Tj ET Q endstream endobj 81 0 obj <> endobj 82 0 obj <> stream BT /F2 11.50 Tf ET q 0 0 0 rg BT 84.45 757.95 Td (COMBINED NOTES ) Tj ET Q q 0 0 0 rg BT 193.51 757.95 Td (T) Tj ET Q q 0 0 0 rg BT 200.97 757.95 Td (O CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 356.68 757.95 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 447.74 757.95 Td ( ST) Tj ET Q q 0 0 0 rg BT 463.82 757.95 Td (A) Tj ET Q q 0 0 0 rg BT 471.28 757.95 Td (TEMENTS) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 32.55 Td (38) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 712.05 Td (The detail of regulatory liabilities is as follows \(dollars in thousands\):) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 698.25 Td () Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 649.75 193.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 243.00 649.75 64.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 307.00 649.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 311.00 649.75 60.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 371.00 649.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 375.00 649.75 60.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.00 649.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 649.75 60.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.00 649.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 649.75 60.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 599.75 193.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 243.00 599.75 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 307.00 599.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 311.00 599.75 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 371.00 599.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 375.00 599.75 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.00 599.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 599.75 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.00 599.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 599.75 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 569.75 193.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 243.00 569.75 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 307.00 569.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 311.00 569.75 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 371.00 569.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 375.00 569.75 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.00 569.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 569.75 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.00 569.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 569.75 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 539.75 193.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 243.00 539.75 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 307.00 539.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 311.00 539.75 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 371.00 539.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 375.00 539.75 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.00 539.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 539.75 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.00 539.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 539.75 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 499.75 193.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 243.00 499.75 64.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 307.00 499.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 311.00 499.75 60.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 371.00 499.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 375.00 499.75 60.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.00 499.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 499.75 60.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.00 499.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 499.75 60.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 459.75 193.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 243.00 459.75 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 307.00 459.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 311.00 459.75 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 371.00 459.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 375.00 459.75 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.00 459.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 459.75 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.00 459.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 459.75 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 429.75 193.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 243.00 429.75 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 307.00 429.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 311.00 429.75 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 371.00 429.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 375.00 429.75 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.00 429.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 429.75 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.00 429.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 429.75 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 399.75 193.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 243.00 399.75 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 307.00 399.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 311.00 399.75 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 371.00 399.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 375.00 399.75 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.00 399.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 399.75 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.00 399.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 399.75 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 369.75 193.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 243.00 369.75 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 307.00 369.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 311.00 369.75 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 371.00 369.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 375.00 369.75 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.00 369.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 369.75 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.00 369.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 369.75 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 339.75 193.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 243.00 339.75 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 307.00 339.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 311.00 339.75 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 371.00 339.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 375.00 339.75 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.00 339.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 339.75 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.00 339.75 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 339.75 60.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 311 673.75 m 371 673.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 371 673.75 m 375 673.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 375 673.75 m 435 673.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 673.75 m 499 673.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499 673.75 m 503 673.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503 673.75 m 563 673.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 243 649.75 m 307 649.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 311 649.75 m 371 649.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 375 673.75 m 435 673.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 375 649.75 m 435 649.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 649.75 m 499 649.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503 673.75 m 563 673.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503 649.75 m 563 649.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 243 649.75 m 307 649.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 311 649.75 m 371 649.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 375 649.75 m 435 649.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 649.75 m 499 649.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503 649.75 m 563 649.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 311 339.75 m 371 339.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 375 339.75 m 435 339.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 339.75 m 499 339.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503 339.75 m 563 339.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 311 339.75 m 371 339.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 311 325.75 m 371 325.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 311 323.75 m 371 323.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 375 339.75 m 435 339.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 375 325.75 m 435 325.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 375 323.75 m 435 323.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 339.75 m 499 339.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 325.75 m 499 325.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 323.75 m 499 323.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503 339.75 m 563 339.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503 325.75 m 563 325.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503 323.75 m 563 323.75 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 678.43 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 245.85 664.43 Td (Amortization) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 255.65 654.43 Td (Thr) Tj ET Q q 0 0 0 rg BT 272.23 654.43 Td (ough) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 339.40 678.43 Td (Mar) Tj ET Q q 0 0 0 rg BT 358.19 678.43 Td (ch 31, 2020) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 460.15 678.43 Td (December) Tj ET Q q 0 0 0 rg BT 503.37 678.43 Td ( 31, 2019) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 654.43 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 323.05 654.43 Td (Curr) Tj ET Q q 0 0 0 rg BT 344.62 654.43 Td (ent) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 393.90 664.43 Td (Non-) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 387.05 654.43 Td (Curr) Tj ET Q q 0 0 0 rg BT 408.62 654.43 Td (ent) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 451.05 654.43 Td (Curr) Tj ET Q q 0 0 0 rg BT 472.62 654.43 Td (ent) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 521.90 664.43 Td (Non-) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 515.05 654.43 Td (Curr) Tj ET Q q 0 0 0 rg BT 536.53 654.43 Td (ent) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 639.42 Td (Excess deferred income taxes - ) Tj ET Q q 0 0 0 rg BT 179.11 639.42 Td (ACC - ) Tj ET Q q 0 0 0 rg BT 207.63 639.42 Td (T) Tj ET Q q 0 0 0 rg BT 213.30 639.42 Td (ax) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 629.42 Td (Cuts and Jobs ) Tj ET Q q 0 0 0 rg BT 110.29 629.42 Td (Act \(a\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 283.50 629.42 Td (2046) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 313.50 629.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.65 629.42 Td (1) Tj ET Q q 0 0 0 rg BT 339.65 629.42 Td (13,142) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 377.50 629.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 398.65 629.42 Td (976,018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 441.50 629.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.65 629.42 Td (59,918) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.50 629.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.10 629.42 Td (1,054,053) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 614.42 Td (Excess deferred income taxes - FERC - ) Tj ET Q q 0 0 0 rg BT 212.63 614.42 Td (T) Tj ET Q q 0 0 0 rg BT 218.30 614.42 Td (ax) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 604.42 Td (Cuts and Jobs ) Tj ET Q q 0 0 0 rg BT 110.29 604.42 Td (Act \(a\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 283.50 604.42 Td (2058) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 344.65 604.42 Td (6,315) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 398.65 604.42 Td (237,508) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.65 604.42 Td (6,302) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 604.42 Td (237,357) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 589.42 Td (Asset retirement obligations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 283.50 589.42 Td (2057) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 357.15 589.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 398.65 589.42 Td (31) Tj ET Q q 0 0 0 rg BT 408.65 589.42 Td (1,517) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.15 589.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 589.42 Td (418,423) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 574.42 Td (Removal costs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.40 574.42 Td (\(c\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 574.42 Td (44,586) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 398.65 574.42 Td (135,450) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.65 574.42 Td (47,356) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 574.42 Td (136,072) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 559.42 Td (Other postretirement benefits) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 291.80 559.42 Td (\(d\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 559.42 Td (37,575) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 398.65 559.42 Td (130,270) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.65 559.42 Td (37,575) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 559.42 Td (139,634) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 544.42 Td (Spent nuclear fuel) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 283.50 544.42 Td (2027) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 344.65 544.42 Td (6,638) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.65 544.42 Td (49,234) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.65 544.42 Td (6,676) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 544.42 Td (51,019) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 529.42 Td (Income taxes change in rates) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 283.50 529.42 Td (2050) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 344.65 529.42 Td (2,802) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.65 529.42 Td (51,152) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.65 529.42 Td (2,797) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 529.42 Td (68,265) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 504.42 Td (Four Corners coal reclamation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 283.50 504.42 Td (2038) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 344.65 504.42 Td (5,461) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.65 504.42 Td (48,405) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.65 504.42 Td (1,059) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 504.42 Td (51,704) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 489.42 Td (Income taxes deferred investment tax) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 479.42 Td (credit) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 283.50 479.42 Td (2048) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 344.65 479.42 Td (2,202) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.65 479.42 Td (49,910) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.65 479.42 Td (2,202) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 479.42 Td (50,034) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 464.42 Td (Renewable ener) Tj ET Q q 0 0 0 rg BT 116.54 464.42 Td (gy standard \(b\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 283.50 464.42 Td (2021) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 464.42 Td (45,872) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 416.15 464.42 Td (1) Tj ET Q q 0 0 0 rg BT 421.15 464.42 Td (15) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.65 464.42 Td (39,287) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 464.42 Td (10,300) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 449.42 Td (Demand side management \(b\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 283.50 449.42 Td (2021) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 344.65 449.42 Td (1,702) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.65 449.42 Td (43,423) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.65 449.42 Td (15,024) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 449.42 Td (24,146) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 434.42 Td (Sundance maintenance) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 283.50 434.42 Td (2031) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 352.15 434.42 Td (184) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.65 434.42 Td (13,515) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.65 434.42 Td (5,698) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 434.42 Td (1) Tj ET Q q 0 0 0 rg BT 536.65 434.42 Td (1,319) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 419.42 Td (Active union medical trust) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 286.80 419.42 Td (N/A) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 357.15 419.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 408.65 419.42 Td (7,986) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.15 419.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.65 419.42 Td (2,041) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 404.42 Td (Property tax deferral) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 286.80 404.42 Td (N/A) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 357.15 404.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 408.65 404.42 Td (7,968) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.15 404.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.65 404.42 Td (7,046) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 389.42 Td (T) Tj ET Q q 0 0 0 rg BT 58.26 389.42 Td (ax expense adjustor mechanism \(b\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 283.50 389.42 Td (2020) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 344.65 389.42 Td (6,615) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.15 389.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.65 389.42 Td (7,018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.15 389.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 374.42 Td (Deferred gains on utility property) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 283.50 374.42 Td (2022) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 344.65 374.42 Td (2,423) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 408.65 374.42 Td (3,577) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.65 374.42 Td (2,423) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.65 374.42 Td (4,163) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 359.42 Td (FERC transmission true up) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 283.50 359.42 Td (2022) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 344.65 359.42 Td (3,304) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 408.65 359.42 Td (1,621) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.65 359.42 Td (1,045) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.65 359.42 Td (2,004) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 344.42 Td (Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 272.90 344.42 Td (V) Tj ET Q q 0 0 0 rg BT 279.01 344.42 Td (arious) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 352.15 344.42 Td (284) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 416.15 344.42 Td (132) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.15 344.42 Td (532) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.15 344.42 Td (255) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 329.87 Td (T) Tj ET Q q 0 0 0 rg BT 63.91 329.87 Td (otal regulatory liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.50 329.87 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 313.50 329.87 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.65 329.87 Td (279,105) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 377.50 329.87 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.10 329.87 Td (2,067,801) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 441.50 329.87 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.65 329.87 Td (234,912) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.50 329.87 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.10 329.87 Td (2,267,835) Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.00 Tf ET q 0 0 0 rg BT 67.50 298.25 Td (\(a\) ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 298.25 Td (For purposes of presentation on the Statement of Cash Flows, amortization of the regulatory liabilities ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 284.45 Td (for excess deferred income taxes are reflected as "Deferred income taxes" under Cash Flows From ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 270.65 Td (Operating ) Tj ET Q q 0 0 0 rg BT 133.73 270.65 Td (Activities.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 67.50 256.85 Td (\(b\) ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 256.85 Td (See Cost Recovery Mechanisms discussion above.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 67.50 243.05 Td (\(c\) ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 243.05 Td (In accordance with regulatory accounting guidance, ) Tj ET Q q 0 0 0 rg BT 325.94 243.05 Td (APS accrues removal costs for its regulated assets, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 229.25 Td (even if there is no legal obligation for removal.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 67.50 215.45 Td (\(d\) ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 215.45 Td (See Note 5.) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 187.85 Td (5.) Tj ET Q BT /F2 3.00 Tf ET q 0 0 0 rg BT 58.13 187.85 Td ( ) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 85.50 187.85 Td (Retir) Tj ET Q q 0 0 0 rg BT 110.83 187.85 Td (ement Plans and Other) Tj ET Q q 0 0 0 rg BT 224.03 187.85 Td ( Postr) Tj ET Q q 0 0 0 rg BT 252.88 187.85 Td (etir) Tj ET Q q 0 0 0 rg BT 269.90 187.85 Td (ement Benefits) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 342.40 187.85 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 174.05 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 160.25 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 127.77 160.25 Td (W) Tj ET Q q 0 0 0 rg BT 137.70 160.25 Td (est sponsors a qualified defined benefit and account balance pension plan, a non-qualified ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 146.45 Td (supplemental excess benefit retirement plan, and an other postretirement benefit plan for the employees of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 132.65 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 91.77 132.65 Td (W) Tj ET Q q 0 0 0 rg BT 101.70 132.65 Td (est and our subsidiaries. Pinnacle ) Tj ET Q q 0 0 0 rg BT 260.23 132.65 Td (W) Tj ET Q q 0 0 0 rg BT 270.16 132.65 Td (est uses a December31 measurement date for its pension and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 118.85 Td (other postretirement benefit plans. ) Tj ET Q q 0 0 0 rg BT 212.80 118.85 Td (The market-related value of our plan assets is their fair value at the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 105.05 Td (measurement dates.) Tj ET Q endstream endobj 83 0 obj <> endobj 84 0 obj <> stream BT /F2 11.50 Tf ET q 0 0 0 rg BT 84.45 757.95 Td (COMBINED NOTES ) Tj ET Q q 0 0 0 rg BT 193.51 757.95 Td (T) Tj ET Q q 0 0 0 rg BT 200.97 757.95 Td (O CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 356.68 757.95 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 447.74 757.95 Td ( ST) Tj ET Q q 0 0 0 rg BT 463.82 757.95 Td (A) Tj ET Q q 0 0 0 rg BT 471.28 757.95 Td (TEMENTS) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 32.55 Td (39) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 712.05 Td (The following table provides details of the plans) Tj ET Q q 0 0 0 rg BT 311.08 712.05 Td ( net periodic benefit costs and the portion of these ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 698.25 Td (costs char) Tj ET Q q 0 0 0 rg BT 94.96 698.25 Td (ged to expense \(including administrative costs and excluding amounts capitalized as overhead ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 684.45 Td (construction or billed to electric plant participants\) \(dollars in thousands\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 605.15 293.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.00 605.15 52.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 395.00 605.15 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 399.00 605.15 52.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 451.00 605.15 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.00 605.15 52.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 507.00 605.15 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 511.00 605.15 52.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 575.15 293.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.00 575.15 52.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 395.00 575.15 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 399.00 575.15 52.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 451.00 575.15 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.00 575.15 52.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 507.00 575.15 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 511.00 575.15 52.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 545.15 293.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.00 545.15 52.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 395.00 545.15 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 399.00 545.15 52.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 451.00 545.15 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.00 545.15 52.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 507.00 545.15 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 511.00 545.15 52.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 515.15 293.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.00 515.15 52.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 395.00 515.15 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 399.00 515.15 52.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 451.00 515.15 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.00 515.15 52.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 507.00 515.15 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 511.00 515.15 52.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 485.15 293.00 -18.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.00 485.15 52.00 -18.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 395.00 485.15 4.00 -18.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 399.00 485.15 52.00 -18.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 451.00 485.15 4.00 -18.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.00 485.15 52.00 -18.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 507.00 485.15 4.00 -18.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 511.00 485.15 52.00 -18.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343 645.15 m 395 645.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 395 645.15 m 399 645.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 399 645.15 m 451 645.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 451 645.15 m 455 645.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 455 645.15 m 507 645.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507 645.15 m 511 645.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 511 645.15 m 563 645.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343 645.15 m 395 645.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343 620.15 m 395 620.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 395 645.15 m 399 645.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 395 620.15 m 399 620.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 399 645.15 m 451 645.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 399 620.15 m 451 620.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 455 645.15 m 507 645.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 455 620.15 m 507 620.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507 645.15 m 511 645.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 507 620.15 m 511 620.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 511 645.15 m 563 645.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 511 620.15 m 563 620.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343 620.15 m 395 620.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343 605.15 m 395 605.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 399 620.15 m 451 620.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 399 605.15 m 451 605.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 455 620.15 m 507 620.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 455 605.15 m 507 605.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 511 620.15 m 563 620.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 511 605.15 m 563 605.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343 605.15 m 395 605.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 399 605.15 m 451 605.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 455 605.15 m 507 605.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 511 605.15 m 563 605.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343 500.15 m 395 500.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 399 500.15 m 451 500.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 455 500.15 m 507 500.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 511 500.15 m 563 500.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343 500.15 m 395 500.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343 486.15 m 395 486.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343 484.15 m 395 484.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 399 500.15 m 451 500.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 399 486.15 m 451 486.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 399 484.15 m 451 484.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 455 500.15 m 507 500.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 455 486.15 m 507 486.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 455 484.15 m 507 484.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 511 500.15 m 563 500.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 511 486.15 m 563 486.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 511 484.15 m 563 484.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343 468.15 m 395 468.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343 466.15 m 395 466.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 399 468.15 m 451 468.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 399 466.15 m 451 466.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 455 468.15 m 507 468.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 455 466.15 m 507 466.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 511 468.15 m 563 468.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 511 466.15 m 563 466.15 l s BT /F2 10.50 Tf ET q 0 0 0 rg BT 52.50 649.94 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 363.35 649.83 Td (PensionBenefits) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 477.30 649.83 Td (Other) Tj ET Q q 0 0 0 rg BT 502.76 649.83 Td (Benefits) Tj ET Q BT /F2 10.50 Tf ET q 0 0 0 rg BT 52.50 624.94 Td () Tj ET Q BT /F2 10.50 Tf ET q 0 0 0 rg BT 348.75 635.44 Td (Thr) Tj ET Q q 0 0 0 rg BT 366.16 635.44 Td (ee Months Ended) Tj ET Q BT /F2 10.50 Tf ET q 0 0 0 rg BT 373.55 624.94 Td (Mar) Tj ET Q q 0 0 0 rg BT 393.28 624.94 Td (ch 31,) Tj ET Q BT /F2 10.50 Tf ET q 0 0 0 rg BT 460.75 635.44 Td (Thr) Tj ET Q q 0 0 0 rg BT 478.06 635.44 Td (ee Months Ended) Tj ET Q BT /F2 10.50 Tf ET q 0 0 0 rg BT 485.55 624.94 Td (Mar) Tj ET Q q 0 0 0 rg BT 505.18 624.94 Td (ch 31,) Tj ET Q BT /F2 10.50 Tf ET q 0 0 0 rg BT 52.50 609.94 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 358.50 609.83 Td (2020) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 414.50 609.83 Td (2019) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 470.50 609.83 Td (2020) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 526.50 609.83 Td (2019) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 594.82 Td (Service cost benefits earned during the period) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 345.50 594.82 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 363.65 594.82 Td (14,257) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.50 594.82 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.65 594.82 Td (12,543) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.50 594.82 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.65 594.82 Td (5,717) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 513.50 594.82 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.65 594.82 Td (4,714) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 579.82 Td (Non-service costs \(credits\):) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 564.82 Td (Interest cost on benefit obligation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 363.65 564.82 Td (29,761) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.65 564.82 Td (34,352) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.65 564.82 Td (6,512) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.65 564.82 Td (7,526) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 549.82 Td (Expected return on plan assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.30 549.87 Td (\(46,806) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.15 549.82 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 416.30 549.87 Td (\(42,893) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.15 549.82 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.30 549.87 Td (\(10,019) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 503.15 549.82 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 533.30 549.87 Td (\(9,603) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 549.82 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 534.82 Td ( ) Tj ET Q q 0 0 0 rg BT 57.22 534.82 Td (Amortization of:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.50 534.82 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 503.50 534.82 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.50 534.82 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 519.82 Td ( Prior service credit) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 381.15 519.82 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 437.15 519.82 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.30 519.87 Td (\(9,394) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 503.15 519.82 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 533.30 519.87 Td (\(9,455) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 519.82 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 504.82 Td ( Net actuarial loss) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 368.65 504.82 Td (9,01) Tj ET Q q 0 0 0 rg BT 386.15 504.82 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.65 504.82 Td (1) Tj ET Q q 0 0 0 rg BT 424.65 504.82 Td (1,239) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 493.15 504.82 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.15 504.82 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 489.82 Td (Net periodic benefit cost \(credit\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 345.50 489.82 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 368.65 489.82 Td (6,223) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.50 489.82 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.65 489.82 Td (15,241) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.50 489.82 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.30 489.87 Td (\(7,184) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 503.15 489.82 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 513.50 489.82 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 533.30 489.87 Td (\(6,818) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 489.82 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 471.82 Td (Portion of cost \(credit\) char) Tj ET Q q 0 0 0 rg BT 162.84 471.82 Td (ged to expense) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 345.50 471.82 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 368.65 471.82 Td (1,342) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.50 471.82 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.65 471.82 Td (8,244) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.50 471.82 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.30 471.87 Td (\(5,456) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 503.15 471.82 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 513.50 471.82 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 533.30 471.87 Td (\(4,817) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 471.82 Td (\)) Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 306.00 453.85 Td () Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 440.05 Td (Contributions) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 426.25 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 412.45 Td (W) Tj ET Q q 0 0 0 rg BT 95.43 412.45 Td (e have not made voluntary contributions to our pension plan year) Tj ET Q q 0 0 0 rg BT 394.77 412.45 Td (-to-date in 2020. ) Tj ET Q q 0 0 0 rg BT 476.64 412.45 Td (The minimum ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 398.65 Td (required contributions for the pension plan are ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 265.70 398.65 Td (zero) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 285.49 398.65 Td ( for the next three years. ) Tj ET Q q 0 0 0 rg BT 402.79 398.65 Td (W) Tj ET Q q 0 0 0 rg BT 412.72 398.65 Td (e expect to make voluntary ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 384.85 Td (contributions up to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 139.26 384.85 Td ($100 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 198.36 384.85 Td ( per year during the 2020-2022 period. ) Tj ET Q q 0 0 0 rg BT 381.79 384.85 Td (W) Tj ET Q q 0 0 0 rg BT 391.72 384.85 Td (e do ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 414.07 384.85 Td (not) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 428.77 384.85 Td ( expect to make any ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 371.05 Td (contributions over the next three years to our other postretirement benefit plans.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 357.25 Td () Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 343.45 Td (6) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 55.25 343.45 Td (. ) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 85.50 343.45 Td (Palo ) Tj ET Q q 0 0 0 rg BT 109.89 343.45 Td (V) Tj ET Q q 0 0 0 rg BT 117.14 343.45 Td (erde Sale Leaseback ) Tj ET Q q 0 0 0 rg BT 219.46 343.45 Td (V) Tj ET Q q 0 0 0 rg BT 226.71 343.45 Td (ariable Inter) Tj ET Q q 0 0 0 rg BT 288.78 343.45 Td (est Entities) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 342.76 343.45 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 329.65 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 315.85 Td (In 1986, ) Tj ET Q q 0 0 0 rg BT 126.07 315.85 Td (APS entered into agreements with ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 286.08 315.85 Td (three) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 309.06 315.85 Td ( separate ) Tj ET Q q 0 0 0 rg BT 352.28 315.85 Td (VIE lessor trust entities in order to sell and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 302.05 Td (lease back interests in Palo ) Tj ET Q q 0 0 0 rg BT 176.08 302.05 Td (V) Tj ET Q q 0 0 0 rg BT 183.11 302.05 Td (erde Unit 2 and related common facilities. ) Tj ET Q q 0 0 0 rg BT 382.06 302.05 Td (APS will retain the assets through ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 288.25 Td (2023 under ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 104.43 288.25 Td (one) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 121.04 288.25 Td ( lease and 2033 under the other ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 267.62 288.25 Td (two) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 284.87 288.25 Td ( leases. ) Tj ET Q q 0 0 0 rg BT 323.19 288.25 Td (APS will be required to make payments relating to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 274.45 Td (these leases of approximately ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 188.09 274.45 Td ($23 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 241.45 274.45 Td ( annually for the period 2020 through 2023, and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 465.01 274.45 Td ($16 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 518.36 274.45 Td ( annually ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 260.65 Td (for the period 2024 through 2033. ) Tj ET Q q 0 0 0 rg BT 210.48 260.65 Td (At the end of the lease period, ) Tj ET Q q 0 0 0 rg BT 350.99 260.65 Td (APS will have the option to purchase the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 246.85 Td (leased assets at their fair market value, extend the leases for up to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 353.50 246.85 Td (two years) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 397.89 246.85 Td (, or return the assets to the lessors.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 219.25 Td (The leases' terms give ) Tj ET Q q 0 0 0 rg BT 189.13 219.25 Td (APS the ability to utilize the assets for a significant portion of the assets) Tj ET Q q 0 0 0 rg BT 523.32 219.25 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 205.45 Td (economic life, and therefore provide ) Tj ET Q q 0 0 0 rg BT 219.38 205.45 Td (APS with the power to direct activities of the ) Tj ET Q q 0 0 0 rg BT 429.65 205.45 Td (VIEs that most significantly ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 191.65 Td (impact the ) Tj ET Q q 0 0 0 rg BT 100.39 191.65 Td (VIEs) Tj ET Q q 0 0 0 rg BT 127.00 191.65 Td ( economic performance. Predominantly due to the lease terms, ) Tj ET Q q 0 0 0 rg BT 419.52 191.65 Td (APS has been deemed the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 177.85 Td (primary beneficiary of these ) Tj ET Q q 0 0 0 rg BT 182.12 177.85 Td (VIEs and therefore consolidates the ) Tj ET Q q 0 0 0 rg BT 348.93 177.85 Td (VIEs.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 164.05 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 150.25 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 150.25 Td (As a result of consolidation, we eliminate lease accounting and instead recognize depreciation expense, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 136.45 Td (resulting in an increase in net income for the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 257.39 136.45 Td (three months ended March 31, 2020) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 423.47 136.45 Td ( and 2019 of $) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 489.90 136.45 Td (5 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 531.75 136.45 Td ( for ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 122.65 Td (each period, entirely attributable to the noncontrolling interests. Income attributable to Pinnacle ) Tj ET Q q 0 0 0 rg BT 491.91 122.65 Td (W) Tj ET Q q 0 0 0 rg BT 501.85 122.65 Td (est ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 108.85 Td (shareholders is not impacted by the consolidation. ) Tj ET Q endstream endobj 85 0 obj <> endobj 86 0 obj <> stream BT /F2 11.50 Tf ET q 0 0 0 rg BT 84.45 757.95 Td (COMBINED NOTES ) Tj ET Q q 0 0 0 rg BT 193.51 757.95 Td (T) Tj ET Q q 0 0 0 rg BT 200.97 757.95 Td (O CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 356.68 757.95 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 447.74 757.95 Td ( ST) Tj ET Q q 0 0 0 rg BT 463.82 757.95 Td (A) Tj ET Q q 0 0 0 rg BT 471.28 757.95 Td (TEMENTS) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 32.55 Td (40) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 698.25 Td (Our Condensed Consolidated Balance Sheets at ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 307.79 698.25 Td (March31, 2020) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 380.93 698.25 Td ( and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 403.28 698.25 Td (December31, 2019) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 493.66 698.25 Td ( include the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 684.45 Td (following amounts relating to the ) Tj ET Q q 0 0 0 rg BT 205.48 684.45 Td (VIEs \(dollars in thousands\):) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 670.65 Td () Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 634.15 355.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 405.00 634.15 76.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 481.00 634.15 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.00 634.15 78.00 -27.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 405 634.15 m 481 634.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 485 634.15 m 563 634.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 405 634.15 m 481 634.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 485 634.15 m 563 634.15 l s BT /F2 11.00 Tf ET q 0 0 0 rg BT 418.45 650.05 Td (Mar) Tj ET Q q 0 0 0 rg BT 439.12 650.05 Td (ch 31,) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 431.50 639.05 Td (2020) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 491.50 650.05 Td (December) Tj ET Q q 0 0 0 rg BT 538.94 650.05 Td ( 31,) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 512.50 639.05 Td (2019) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 623.68 Td (Palo ) Tj ET Q q 0 0 0 rg BT 75.61 623.68 Td (V) Tj ET Q q 0 0 0 rg BT 82.64 623.68 Td (erde sale leaseback property plant and equipment, net of) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 61.50 612.18 Td (accumulated depreciation) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 407.50 612.18 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 439.25 612.18 Td (100,938) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 487.50 612.18 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 521.25 612.18 Td (101,906) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 596.18 Td (Equity Noncontrolling interests) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 439.25 596.18 Td (127,414) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 521.25 596.18 Td (122,540) Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 577.85 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 564.05 Td (Assets of the ) Tj ET Q q 0 0 0 rg BT 147.58 564.05 Td (VIEs are restricted and may only be used for payment to the noncontrolling interest ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 550.25 Td (holders. ) Tj ET Q q 0 0 0 rg BT 91.77 550.25 Td (These assets are reported on our condensed consolidated financial statements.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 536.45 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 522.65 Td (APS is exposed to losses relating to these ) Tj ET Q q 0 0 0 rg BT 278.87 522.65 Td (VIEs upon the occurrence of certain events that ) Tj ET Q q 0 0 0 rg BT 499.84 522.65 Td (APS does not ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 508.85 Td (consider to be reasonably likely to occur) Tj ET Q q 0 0 0 rg BT 235.36 508.85 Td (. Under certain circumstances \(for example, the Nuclear Regulatory ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 495.05 Td (Commission \("NRC"\) issuing specified violation orders with respect to Palo ) Tj ET Q q 0 0 0 rg BT 403.02 495.05 Td (V) Tj ET Q q 0 0 0 rg BT 410.05 495.05 Td (erde or the occurrence of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 481.25 Td (specified nuclear events\), ) Tj ET Q q 0 0 0 rg BT 168.92 481.25 Td (APS would be required to make specified payments to the ) Tj ET Q q 0 0 0 rg BT 438.91 481.25 Td (VIEs) Tj ET Q q 0 0 0 rg BT 465.52 481.25 Td ( noncontrolling ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 467.45 Td (equity participants and take title to the leased Unit 2 interests, which, if appropriate, may be required to be ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 453.65 Td (written down in value. If such an event were to occur during the lease periods, ) Tj ET Q q 0 0 0 rg BT 414.84 453.65 Td (APS may be required to pay the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 439.85 Td (noncontrolling equity participants approximately ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 277.53 439.85 Td ($304 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 336.64 439.85 Td ( beginning in 2020, and up to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 474.63 439.85 Td ($456 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 533.73 439.85 Td ( over ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 426.05 Td (the lease extension terms. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 412.25 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 398.45 Td (For regulatory ratemaking purposes, the agreements continue to be treated as operating leases and, as a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 384.65 Td (result, we have recorded a regulatory asset relating to the arrangements.) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 357.05 Td (7. ) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 85.50 357.05 Td (Derivative ) Tj ET Q q 0 0 0 rg BT 138.83 357.05 Td (Accounting) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 195.06 357.05 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 343.25 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 329.45 Td (Derivative financial instruments are used to manage exposure to commodity price and transportation ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 315.65 Td (costs of electricity) Tj ET Q q 0 0 0 rg BT 133.06 315.65 Td (, natural gas, emissions allowances, and in interest rates. Risks associated with market ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 301.85 Td (volatility are managed by utilizing various physical and financial derivative instruments, including futures, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 288.05 Td (forwards, options and swaps. ) Tj ET Q q 0 0 0 rg BT 188.45 288.05 Td (As part of our overall risk management program, we may use derivative ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 274.25 Td (instruments to hedge purchases and sales of electricity and fuels. Derivative instruments that meet certain ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 260.45 Td (hedge accounting criteria may be designated as cash flow hedges and are used to limit our exposure to cash ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 246.65 Td (flow variability on forecasted transactions. ) Tj ET Q q 0 0 0 rg BT 251.44 246.65 Td (The changes in market value of such instruments have a high ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 232.85 Td (correlation to price changes in the hedged transactions. Derivative instruments are also entered into for ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 219.05 Td (economic hedging purposes. ) Tj ET Q q 0 0 0 rg BT 186.31 219.05 Td (While economic hedges may mitigate exposure to fluctuations in commodity ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 205.25 Td (prices, these instruments have not been designated as accounting hedges. Contracts that have the same terms ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 191.45 Td (\(quantities, delivery points and delivery periods\) and for which power does not flow are netted, which reduces ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 177.65 Td (both revenues and fuel and purchased power costs in our Condensed Consolidated Statements of Income, but ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 163.85 Td (does not impact our financial condition, net income or cash flows.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 150.05 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 136.25 Td (Our derivative instruments, excluding those qualifying for a scope exception, are recorded on the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 122.45 Td (balance sheets as an asset or liability and are measured at fair value. See Note 1) Tj ET Q q 0 0 0 rg BT 417.89 122.45 Td (1 for a discussion of fair value ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 108.65 Td (measurements. Derivative instruments may qualify for the normal purchases and normal sales scope exception ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 94.85 Td (if they require physical delivery and the quantities represent those transacted in the normal course of business. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 81.05 Td (Derivative instruments qualifying for the normal purchases and sales scope exception are accounted for under ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 67.25 Td (the accrual method of accounting and excluded from our derivative instrument discussion and disclosures ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 53.45 Td (below) Tj ET Q q 0 0 0 rg BT 76.86 53.45 Td (. ) Tj ET Q endstream endobj 87 0 obj <> endobj 88 0 obj <> stream BT /F2 11.50 Tf ET q 0 0 0 rg BT 84.45 757.95 Td (COMBINED NOTES ) Tj ET Q q 0 0 0 rg BT 193.51 757.95 Td (T) Tj ET Q q 0 0 0 rg BT 200.97 757.95 Td (O CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 356.68 757.95 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 447.74 757.95 Td ( ST) Tj ET Q q 0 0 0 rg BT 463.82 757.95 Td (A) Tj ET Q q 0 0 0 rg BT 471.28 757.95 Td (TEMENTS) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 32.55 Td (41) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 707.55 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 693.75 Td (For its regulated operations, ) Tj ET Q q 0 0 0 rg BT 216.77 693.75 Td (APS defers for future rate treatment ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 384.74 693.75 Td (100%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 411.57 693.75 Td ( of the unrealized gains and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 679.95 Td (losses on derivatives pursuant to the PSA) Tj ET Q q 0 0 0 rg BT 239.24 679.95 Td ( mechanism that would otherwise be recognized in income. Realized ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 666.15 Td (gains and losses on derivatives are deferred in accordance with the PSA) Tj ET Q q 0 0 0 rg BT 379.39 666.15 Td ( to the extent the amounts are above or ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 652.35 Td (below the Base Fuel Rate \(see Note ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 216.52 652.35 Td (4) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 222.27 652.35 Td (\). Gains and losses from derivatives in the following tables represent the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 638.55 Td (amounts reflected in income before the ef) Tj ET Q q 0 0 0 rg BT 240.88 638.55 Td (fect of PSA) Tj ET Q q 0 0 0 rg BT 293.90 638.55 Td ( deferrals.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 624.75 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 610.95 Td (As of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 113.61 610.95 Td (March31, 2020) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 186.75 610.95 Td ( and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 209.10 610.95 Td (December31, 2019) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 299.48 610.95 Td (, we had the following outstanding gross notional ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 597.15 Td (volume of derivatives, which represent both purchases and sales \(does not reflect net position\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 556.65 85.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 135.00 556.65 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 139.00 556.65 162.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 301.00 556.65 129.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 430.00 556.65 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 434.00 556.65 129.00 -16.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 301 571.65 m 430 571.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 430 571.65 m 434 571.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 434 571.65 m 563 571.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50 556.65 m 135 556.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 139 556.65 m 301 556.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 301 571.65 m 430 571.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 301 556.65 m 430 556.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 430 571.65 m 434 571.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 434 571.65 m 563 571.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 434 556.65 m 563 556.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 139 556.65 m 301 556.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 301 556.65 m 430 556.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 430 556.65 m 434 556.65 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 412.30 576.33 Td (Quantity) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 561.33 Td (Commodity) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 184.85 561.33 Td (Unit of Measur) Tj ET Q q 0 0 0 rg BT 249.75 561.33 Td (e) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 331.90 561.33 Td (Mar) Tj ET Q q 0 0 0 rg BT 350.69 561.33 Td (ch 31, 2020) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 457.65 561.33 Td (December) Tj ET Q q 0 0 0 rg BT 500.77 561.33 Td ( 31, 2019) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 545.68 Td (Power) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 141.50 545.68 Td (GWh) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.15 545.32 Td (477) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.15 545.32 Td (193) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 529.68 Td (Gas) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 141.50 529.68 Td (Billion cubic feet) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.15 529.32 Td (263) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.15 529.32 Td (257) Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 511.35 Td () Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 497.55 Td (Gains and Losses fr) Tj ET Q q 0 0 0 rg BT 146.11 497.55 Td (om Derivative Instruments) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 483.75 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 469.95 Td (The following table provides information about gains and losses from derivative instruments in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 456.15 Td (designated cash flow accounting hedging relationships during the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 353.54 456.15 Td (three months ended March 31, 2020) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 519.62 456.15 Td ( and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 442.35 Td (2019) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 72.50 442.35 Td ( \(dollars in thousands\):) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 428.55 Td () Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 367.05 281.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 331.00 367.05 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 335.00 367.05 138.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.00 367.05 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.00 367.05 41.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 518.00 367.05 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 522.00 367.05 41.00 -27.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477 381.05 m 518 381.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 518 381.05 m 522 381.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 522 381.05 m 563 381.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50 367.05 m 331 367.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 335 367.05 m 473 367.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477 381.05 m 518 381.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477 367.05 m 518 367.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 522 381.05 m 563 381.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 522 367.05 m 563 367.05 l s BT /F2 11.00 Tf ET q 0 0 0 rg BT 52.50 385.95 Td () Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 356.25 382.95 Td (FinancialStatement) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 382.70 371.95 Td (Location) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 486.10 407.95 Td (Thr) Tj ET Q q 0 0 0 rg BT 504.34 407.95 Td (ee Months) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 504.20 396.95 Td (Ended) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 495.45 385.95 Td (Mar) Tj ET Q q 0 0 0 rg BT 516.12 385.95 Td (ch 31,) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 52.50 371.10 Td (CommodityContracts) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 486.00 371.10 Td (2020) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 531.00 371.10 Td (2019) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 52.50 355.97 Td (Loss Reclassified from ) Tj ET Q q 0 0 0 rg BT 156.37 355.97 Td (Accumulated OCI into Income) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 52.50 344.97 Td (\(Ef) Tj ET Q q 0 0 0 rg BT 66.45 344.97 Td (fective Portion Realized\) \(a\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 337.50 344.97 Td (Fuel and purchased power \(b\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 479.50 344.97 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 493.60 344.97 Td (\(414) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 513.80 344.97 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 524.50 344.97 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 538.60 344.97 Td (\(436) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 558.80 344.97 Td (\)) Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 67.50 312.95 Td (\(a\) ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 312.95 Td (During the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 137.88 312.95 Td (three months ended March 31, 2020) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 303.95 312.95 Td ( and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 326.31 312.95 Td (2019) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 349.31 312.95 Td (, we had ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 390.82 312.95 Td (no) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 402.32 312.95 Td ( gains or losses reclassified from ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 299.15 Td (accumulated OCI to earnings ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 222.82 299.15 Td (related to discontinued cash flow hedges) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 401.51 299.15 Td (.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 67.50 285.35 Td (\(b\) ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 285.35 Td (Amounts are before the ef) Tj ET Q q 0 0 0 rg BT 205.35 285.35 Td (fect of PSA) Tj ET Q q 0 0 0 rg BT 258.38 285.35 Td ( deferrals.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 271.55 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 257.75 Td (During the next twelve months, we estimate that a net loss of approximately ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 438.73 257.75 Td ($0.3 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 494.96 257.75 Td ( before ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 243.95 Td (income taxes will be reclassified from accumulated OCI as an of) Tj ET Q q 0 0 0 rg BT 346.91 243.95 Td (fset to the ef) Tj ET Q q 0 0 0 rg BT 403.87 243.95 Td (fect of market price changes for ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 230.15 Td (the related hedged transactions. In accordance with the PSA, most of these amounts will be recorded as either ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 216.35 Td (a regulatory asset or liability and have no immediate ef) Tj ET Q q 0 0 0 rg BT 302.53 216.35 Td (fect on earnings. ) Tj ET Q endstream endobj 89 0 obj <> endobj 90 0 obj <> stream BT /F2 11.50 Tf ET q 0 0 0 rg BT 84.45 757.95 Td (COMBINED NOTES ) Tj ET Q q 0 0 0 rg BT 193.51 757.95 Td (T) Tj ET Q q 0 0 0 rg BT 200.97 757.95 Td (O CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 356.68 757.95 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 447.74 757.95 Td ( ST) Tj ET Q q 0 0 0 rg BT 463.82 757.95 Td (A) Tj ET Q q 0 0 0 rg BT 471.28 757.95 Td (TEMENTS) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 32.55 Td (42) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 707.55 Td (The following table provides information about gains and losses from derivative instruments not ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 693.75 Td (designated as accounting hedging instruments during the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 313.63 693.75 Td (three months ended March 31, 2020) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 479.70 693.75 Td ( and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 502.06 693.75 Td (2019) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 525.06 693.75 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 679.95 Td (\(dollars in thousands\):) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 666.15 Td () Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 601.65 269.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 319.00 601.65 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 323.00 601.65 134.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 457.00 601.65 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 461.00 601.65 49.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 510.00 601.65 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 514.00 601.65 49.00 -16.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461 615.65 m 510 615.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 510 615.65 m 514 615.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 514 615.65 m 563 615.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50 601.65 m 319 601.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 323 601.65 m 457 601.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461 601.65 m 510 601.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 514 615.65 m 563 615.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 514 601.65 m 563 601.65 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 620.33 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 326.40 606.33 Td (FinancialStatement Location) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 466.00 630.33 Td (Thr) Tj ET Q q 0 0 0 rg BT 482.58 630.33 Td (ee Months Ended) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 489.65 620.33 Td (Mar) Tj ET Q q 0 0 0 rg BT 508.44 620.33 Td (ch 31,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 606.33 Td (CommodityContracts) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 475.00 606.33 Td (2020) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 528.00 606.33 Td (2019) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 590.32 Td (Net Gain \(Loss\) Recognized in Income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 325.50 590.32 Td (Fuel and purchased power \(a\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.50 590.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 475.30 590.37 Td (\(30,078) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 506.15 590.32 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 516.50 590.32 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.65 590.32 Td (8,170) Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 67.50 558.55 Td (\(a\) ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 558.55 Td (Amounts are before the ef) Tj ET Q q 0 0 0 rg BT 205.35 558.55 Td (fect of PSA) Tj ET Q q 0 0 0 rg BT 258.38 558.55 Td ( deferrals.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 544.75 Td () Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 530.95 Td (Derivative Instruments in the Condensed Consolidated Balance Sheets) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 517.15 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 503.35 Td (Our derivative transactions are typically executed under standardized or customized agreements, which ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 489.55 Td (include collateral requirements and, in the event of a default, would allow for the netting of positive and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 475.75 Td (negative exposures associated with a single counterparty) Tj ET Q q 0 0 0 rg BT 309.34 475.75 Td (. ) Tj ET Q q 0 0 0 rg BT 317.33 475.75 Td (Agreements that allow for the of) Tj ET Q q 0 0 0 rg BT 466.90 475.75 Td (fsetting of positive ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 461.95 Td (and negative exposures associated with a single counterparty are considered master netting arrangements. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 448.15 Td (T) Tj ET Q q 0 0 0 rg BT 56.12 448.15 Td (ransactions with counterparties that have master netting arrangements are of) Tj ET Q q 0 0 0 rg BT 406.22 448.15 Td (fset and reported net on the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 434.35 Td (Condensed Consolidated Balance Sheets. ) Tj ET Q q 0 0 0 rg BT 245.40 434.35 Td (T) Tj ET Q q 0 0 0 rg BT 252.02 434.35 Td (ransactions that do not allow for of) Tj ET Q q 0 0 0 rg BT 412.78 434.35 Td (fsetting of positive and negative ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 420.55 Td (positions are reported gross on the Condensed Consolidated Balance Sheets.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 406.75 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 392.95 Td (W) Tj ET Q q 0 0 0 rg BT 95.43 392.95 Td (e do not of) Tj ET Q q 0 0 0 rg BT 144.73 392.95 Td (fset a counterparty) Tj ET Q q 0 0 0 rg BT 233.50 392.95 Td (s current derivative contracts with the counterparty) Tj ET Q q 0 0 0 rg BT 471.08 392.95 Td (s non-current ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 379.15 Td (derivative contracts, although our master netting arrangements would allow current and non-current positions ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 365.35 Td (to be of) Tj ET Q q 0 0 0 rg BT 84.42 365.35 Td (fset in the event of a default.) Tj ET Q q 0 0 0 rg BT 221.21 365.35 Td (These types of transactions may include non-derivative instruments, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 351.55 Td (derivatives qualifying for scope exceptions, trade receivables and trade payables arising from settled positions, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 337.75 Td (and other forms of non-cash collateral \(such as letters of credit\). ) Tj ET Q q 0 0 0 rg BT 349.78 337.75 Td (These types of transactions are excluded from ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 323.95 Td (the of) Tj ET Q q 0 0 0 rg BT 75.80 323.95 Td (fsetting tables presented below) Tj ET Q q 0 0 0 rg BT 217.16 323.95 Td (.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 310.15 Td () Tj ET Q endstream endobj 91 0 obj <> endobj 92 0 obj <> stream BT /F2 11.50 Tf ET q 0 0 0 rg BT 84.45 757.95 Td (COMBINED NOTES ) Tj ET Q q 0 0 0 rg BT 193.51 757.95 Td (T) Tj ET Q q 0 0 0 rg BT 200.97 757.95 Td (O CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 356.68 757.95 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 447.74 757.95 Td ( ST) Tj ET Q q 0 0 0 rg BT 463.82 757.95 Td (A) Tj ET Q q 0 0 0 rg BT 471.28 757.95 Td (TEMENTS) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 32.55 Td (43) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 707.55 Td (The following tables provide information about the fair value of our risk management activities ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 693.75 Td (reported on a gross basis, and the impacts of of) Tj ET Q q 0 0 0 rg BT 265.83 693.75 Td (fsetting as of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 328.11 693.75 Td (March31, 2020) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 401.25 693.75 Td ( and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 423.60 693.75 Td (December31, 2019) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 513.97 693.75 Td (. ) Tj ET Q q 0 0 0 rg BT 522.39 693.75 Td (These ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 679.95 Td (amounts relate to commodity contracts and are located in the assets and liabilities from risk management ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 666.15 Td (activities lines of our Condensed Consolidated Balance Sheets.) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 593.85 163.00 -19.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 213.00 593.85 4.00 -19.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 217.00 593.85 66.00 -19.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 283.00 593.85 4.00 -19.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 287.00 593.85 66.00 -19.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.00 593.85 4.00 -19.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.00 593.85 66.00 -19.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.00 593.85 4.00 -19.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.00 593.85 66.00 -19.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 593.85 4.00 -19.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 593.85 66.00 -19.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 559.85 163.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 213.00 559.85 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 217.00 559.85 66.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 283.00 559.85 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 287.00 559.85 66.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.00 559.85 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.00 559.85 66.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.00 559.85 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.00 559.85 66.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 559.85 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 559.85 66.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 529.85 163.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 213.00 529.85 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 217.00 529.85 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 283.00 529.85 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 287.00 529.85 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.00 529.85 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.00 529.85 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.00 529.85 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.00 529.85 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 529.85 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 529.85 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 499.85 163.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 213.00 499.85 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 217.00 499.85 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 283.00 499.85 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 287.00 499.85 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.00 499.85 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.00 499.85 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.00 499.85 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.00 499.85 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 499.85 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 499.85 66.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50 593.85 m 213 593.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 217 593.85 m 283 593.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 287 593.85 m 353 593.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357 593.85 m 423 593.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427 593.85 m 493 593.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 593.85 m 563 593.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 217 559.85 m 283 559.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 217 543.85 m 283 543.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 287 559.85 m 353 559.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 287 543.85 m 353 543.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357 559.85 m 423 559.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357 543.85 m 423 543.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427 559.85 m 493 559.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427 543.85 m 493 543.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 559.85 m 563 559.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 543.85 m 563 543.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 217 499.85 m 283 499.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 287 499.85 m 353 499.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357 499.85 m 423 499.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427 499.85 m 493 499.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 499.85 m 563 499.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 217 484.85 m 283 484.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 287 484.85 m 353 484.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357 484.85 m 423 484.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427 484.85 m 493 484.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 484.85 m 563 484.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 217 484.85 m 283 484.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 217 470.85 m 283 470.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 217 468.85 m 283 468.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 287 484.85 m 353 484.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 287 470.85 m 353 470.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 287 468.85 m 353 468.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357 484.85 m 423 484.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357 470.85 m 423 470.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357 468.85 m 423 468.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427 484.85 m 493 484.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427 470.85 m 493 470.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427 468.85 m 493 468.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 484.85 m 563 484.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 470.85 m 563 470.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 468.85 m 563 468.85 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 608.53 Td (As of Mar) Tj ET Q q 0 0 0 rg BT 95.64 608.53 Td (ch 31, 2020:) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 598.53 Td ( \(dollars in thousands\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 237.05 628.68 Td (Gr) Tj ET Q q 0 0 0 rg BT 249.09 628.68 Td (oss) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 223.80 618.52 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 226.30 618.52 Td (Recognized) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 224.05 608.52 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 226.55 608.52 Td (Derivatives) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 242.40 598.52 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 244.90 598.52 Td (\(a\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 300.05 618.53 Td (Amounts) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 306.45 608.53 Td (Offset) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 312.10 598.53 Td (\(b\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 382.00 618.68 Td (Net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 363.80 608.52 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 366.30 608.52 Td (Recognized) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.05 598.52 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 366.55 598.52 Td (Derivatives) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 446.80 608.68 Td (Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.70 598.52 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 455.20 598.52 Td (\(c\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 511.95 628.53 Td (Amount) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 546.95 628.53 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 502.95 618.53 Td (Reportedon) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 556.00 618.53 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 512.55 608.53 Td (Balance ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 515.85 598.53 Td (Sheets) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 52.50 579.77 Td (Current assets) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 219.50 579.77 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 254.05 579.77 Td (2,778) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 289.50 579.77 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 320.35 579.77 Td (\(1,482) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 348.80 579.77 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 359.50 579.77 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 394.05 579.77 Td (1,296) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 429.50 579.77 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 472.30 579.77 Td (812) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 499.50 579.77 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 534.05 579.77 Td (2,108) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 52.50 564.72 Td (Investments and other assets) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 267.80 564.72 Td (50) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 334.10 564.72 Td (\(50) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 348.80 564.72 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 407.80 564.72 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 477.80 564.72 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 547.80 564.72 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 52.50 548.77 Td (T) Tj ET Q q 0 0 0 rg BT 58.83 548.77 Td (otal assets) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 254.05 548.77 Td (2,828) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 320.35 548.77 Td (\(1,532) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 348.80 548.77 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 394.05 548.77 Td (1,296) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 472.30 548.77 Td (812) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 534.05 548.77 Td (2,108) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 52.50 519.72 Td (Current liabilities) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 244.85 519.72 Td (\(55,081) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 278.80 519.72 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 324.05 519.72 Td (1,482) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 384.85 519.72 Td (\(53,599) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 418.80 519.72 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 460.35 519.72 Td (\(1,185) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 488.80 519.72 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 524.85 519.72 Td (\(54,784) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 558.80 519.72 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 52.50 504.72 Td (Deferred credits and other) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 244.85 504.72 Td (\(32,627) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 278.80 504.72 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 337.80 504.72 Td (50) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 384.85 504.72 Td (\(32,577) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 418.80 504.72 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 477.80 504.72 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 524.85 504.72 Td (\(32,577) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 558.80 504.72 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 52.50 489.72 Td (T) Tj ET Q q 0 0 0 rg BT 58.83 489.72 Td (otal liabilities) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 244.85 489.72 Td (\(87,708) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 278.80 489.72 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 324.05 489.72 Td (1,532) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 384.85 489.72 Td (\(86,176) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 418.80 489.72 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 460.35 489.72 Td (\(1,185) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 488.80 489.72 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 524.85 489.72 Td (\(87,361) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 558.80 489.72 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 52.50 474.72 Td (T) Tj ET Q q 0 0 0 rg BT 58.45 474.72 Td (otal) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 219.50 474.72 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 244.85 474.72 Td (\(84,880) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 278.80 474.72 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 289.50 474.72 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 337.80 474.72 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 359.50 474.72 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 384.85 474.72 Td (\(84,880) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 418.80 474.72 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 429.50 474.72 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 468.60 474.72 Td (\(373) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 488.80 474.72 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 499.50 474.72 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 524.85 474.72 Td (\(85,253) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 558.80 474.72 Td (\)) Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 67.50 442.75 Td (\(a\) ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 442.75 Td (All of our gross recognized derivative instruments were subject to master netting arrangements.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 67.50 428.95 Td (\(b\) ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 428.95 Td (No) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 99.56 428.95 Td ( cash collateral has been provided to counterparties, or received from counterparties, that is subject ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 415.15 Td (to of) Tj ET Q q 0 0 0 rg BT 106.69 415.15 Td (fsetting.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 67.50 401.35 Td (\(c\) ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 401.35 Td (Represents cash collateral and cash mar) Tj ET Q q 0 0 0 rg BT 268.26 401.35 Td (gin that is not subject to of) Tj ET Q q 0 0 0 rg BT 390.71 401.35 Td (fsetting. ) Tj ET Q q 0 0 0 rg BT 430.32 401.35 Td (Amounts relate to non-) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 387.55 Td (derivative instruments, derivatives qualifying for scope exceptions, or collateral and mar) Tj ET Q q 0 0 0 rg BT 492.78 387.55 Td (gin posted in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 373.75 Td (excess of the recognized derivative instrument.Includes cash collateral received from counterparties of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 359.95 Td ($1,185) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 117.13 359.95 Td ( and cash mar) Tj ET Q q 0 0 0 rg BT 180.46 359.95 Td (gin provided to counterparties of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 334.07 359.95 Td ($812) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 357.07 359.95 Td (.) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 286.65 163.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 213.00 286.65 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 217.00 286.65 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 283.00 286.65 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 287.00 286.65 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.00 286.65 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.00 286.65 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.00 286.65 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.00 286.65 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 286.65 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 286.65 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 256.65 163.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 213.00 256.65 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 217.00 256.65 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 283.00 256.65 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 287.00 256.65 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.00 256.65 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.00 256.65 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.00 256.65 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.00 256.65 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 256.65 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 256.65 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 226.65 163.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 213.00 226.65 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 217.00 226.65 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 283.00 226.65 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 287.00 226.65 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.00 226.65 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.00 226.65 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.00 226.65 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.00 226.65 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 226.65 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 226.65 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 196.65 163.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 213.00 196.65 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 217.00 196.65 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 283.00 196.65 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 287.00 196.65 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.00 196.65 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.00 196.65 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.00 196.65 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.00 196.65 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 196.65 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 196.65 66.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50 286.65 m 213 286.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 217 286.65 m 283 286.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 287 286.65 m 353 286.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357 286.65 m 423 286.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427 286.65 m 493 286.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 286.65 m 563 286.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 217 286.65 m 283 286.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 217 271.65 m 283 271.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 287 286.65 m 353 286.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 287 271.65 m 353 271.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357 286.65 m 423 286.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357 271.65 m 423 271.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427 286.65 m 493 286.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427 271.65 m 493 271.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 286.65 m 563 286.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 271.65 m 563 271.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 217 271.65 m 283 271.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 217 256.65 m 283 256.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 287 271.65 m 353 271.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 287 256.65 m 353 256.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357 271.65 m 423 271.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357 256.65 m 423 256.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427 271.65 m 493 271.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427 256.65 m 493 256.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 271.65 m 563 271.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 256.65 m 563 256.65 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 217 211.64999999999998 m 283 211.64999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 287 211.64999999999998 m 353 211.64999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357 211.64999999999998 m 423 211.64999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427 211.64999999999998 m 493 211.64999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 211.64999999999998 m 563 211.64999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 217 196.64999999999998 m 283 196.64999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 287 196.64999999999998 m 353 196.64999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357 196.64999999999998 m 423 196.64999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427 196.64999999999998 m 493 196.64999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 196.64999999999998 m 563 196.64999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 217 196.64999999999998 m 283 196.64999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 217 182.64999999999998 m 283 182.64999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 217 180.64999999999998 m 283 180.64999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 287 196.64999999999998 m 353 196.64999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 287 182.64999999999998 m 353 182.64999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 287 180.64999999999998 m 353 180.64999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357 196.64999999999998 m 423 196.64999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357 182.64999999999998 m 423 182.64999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357 180.64999999999998 m 423 180.64999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427 196.64999999999998 m 493 196.64999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427 182.64999999999998 m 493 182.64999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427 180.64999999999998 m 493 180.64999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 196.64999999999998 m 563 196.64999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 182.64999999999998 m 563 182.64999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 180.64999999999998 m 563 180.64999999999998 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 301.33 Td (As of December) Tj ET Q q 0 0 0 rg BT 120.07 301.33 Td ( 31, 2019:) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 291.33 Td ( \(dollars in thousands\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 237.05 321.48 Td (Gr) Tj ET Q q 0 0 0 rg BT 249.09 321.48 Td (oss) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 225.05 311.48 Td (Recognized) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 225.30 301.48 Td (Derivatives) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 242.40 291.32 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 244.90 291.32 Td (\(a\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 300.05 311.33 Td (Amounts) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 306.45 301.33 Td (Offset) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 313.35 291.33 Td (\(b\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 382.00 311.48 Td (Net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 363.80 301.32 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 366.30 301.32 Td (Recognized) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.05 291.32 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 366.55 291.32 Td (Derivatives) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 446.80 301.48 Td (Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.70 291.32 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 455.20 291.32 Td (\(c\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 511.95 321.33 Td (Amount) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 502.95 311.33 Td (Reportedon) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 512.55 301.33 Td (Balance ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 515.85 291.33 Td (Sheets) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 52.50 276.52 Td (Current assets) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 219.50 276.52 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 262.30 276.52 Td (584) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 289.50 276.52 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 328.60 276.52 Td (\(474) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 348.80 276.52 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 359.50 276.52 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 402.30 276.52 Td (1) Tj ET Q q 0 0 0 rg BT 407.80 276.52 Td (10) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 429.50 276.52 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 472.30 276.52 Td (405) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 499.50 276.52 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 542.30 276.52 Td (515) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 52.50 261.52 Td (T) Tj ET Q q 0 0 0 rg BT 58.83 261.52 Td (otal assets) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 262.30 261.52 Td (584) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 328.60 261.52 Td (\(474) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 348.80 261.52 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 402.30 261.52 Td (1) Tj ET Q q 0 0 0 rg BT 407.80 261.52 Td (10) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 472.30 261.52 Td (405) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 542.30 261.52 Td (515) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 52.50 231.52 Td (Current liabilities) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 244.85 231.52 Td (\(38,235) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 278.80 231.52 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 332.30 231.52 Td (474) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 384.85 231.52 Td (\(37,761) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 418.80 231.52 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 460.35 231.52 Td (\(1,185) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 488.80 231.52 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 524.85 231.52 Td (\(38,946) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 558.80 231.52 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 52.50 216.52 Td (Deferred credits and other) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 244.85 216.52 Td (\(33,186) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 278.80 216.52 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 337.80 216.52 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 384.85 216.52 Td (\(33,186) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 418.80 216.52 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 477.80 216.52 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 524.85 216.52 Td (\(33,186) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 558.80 216.52 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 52.50 201.52 Td (T) Tj ET Q q 0 0 0 rg BT 58.83 201.52 Td (otal liabilities) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 244.85 201.52 Td (\(71,421) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 278.80 201.52 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 332.30 201.52 Td (474) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 384.85 201.52 Td (\(70,947) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 418.80 201.52 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 460.35 201.52 Td (\(1,185) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 488.80 201.52 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 524.85 201.52 Td (\(72,132) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 558.80 201.52 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 52.50 186.52 Td (T) Tj ET Q q 0 0 0 rg BT 58.45 186.52 Td (otal) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 219.50 186.52 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 244.85 186.52 Td (\(70,837) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 278.80 186.52 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 289.50 186.52 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 337.80 186.52 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 359.50 186.52 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 384.85 186.52 Td (\(70,837) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 418.80 186.52 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 429.50 186.52 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 468.60 186.52 Td (\(780) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 488.80 186.52 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 499.50 186.52 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 524.85 186.52 Td (\(71,617) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 558.80 186.52 Td (\)) Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 67.50 154.55 Td (\(a\) ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 154.55 Td (All of our gross recognized derivative instruments were subject to master netting arrangements.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 67.50 140.75 Td (\(b\) ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 140.75 Td (No) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 99.56 140.75 Td ( cash collateral has been provided to counterparties, or received from counterparties, that is subject ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 126.95 Td (to of) Tj ET Q q 0 0 0 rg BT 106.69 126.95 Td (fsetting.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 67.50 113.15 Td (\(c\) ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 113.15 Td (Represents cash collateral and cash mar) Tj ET Q q 0 0 0 rg BT 268.26 113.15 Td (gin that is not subject to of) Tj ET Q q 0 0 0 rg BT 390.71 113.15 Td (fsetting. ) Tj ET Q q 0 0 0 rg BT 430.32 113.15 Td (Amounts relate to non-) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 99.35 Td (derivative instruments, derivatives qualifying for scope exceptions, or collateral and mar) Tj ET Q q 0 0 0 rg BT 492.78 99.35 Td (gin posted in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 85.55 Td (excess of the recognized derivative instrument. Includes cash collateral received from counterparties ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 71.75 Td (of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 97.95 71.75 Td ($1,185) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 129.58 71.75 Td ( and cash mar) Tj ET Q q 0 0 0 rg BT 192.92 71.75 Td (gin provided to counterparties of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 346.53 71.75 Td ($405) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 369.53 71.75 Td (.) Tj ET Q endstream endobj 93 0 obj <> endobj 94 0 obj <> stream BT /F2 11.50 Tf ET q 0 0 0 rg BT 84.45 757.95 Td (COMBINED NOTES ) Tj ET Q q 0 0 0 rg BT 193.51 757.95 Td (T) Tj ET Q q 0 0 0 rg BT 200.97 757.95 Td (O CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 356.68 757.95 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 447.74 757.95 Td ( ST) Tj ET Q q 0 0 0 rg BT 463.82 757.95 Td (A) Tj ET Q q 0 0 0 rg BT 471.28 757.95 Td (TEMENTS) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 32.55 Td (44) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 707.75 Td (Cr) Tj ET Q q 0 0 0 rg BT 62.70 707.75 Td (edit Risk and Cr) Tj ET Q q 0 0 0 rg BT 143.97 707.75 Td (edit Related Contingent Featur) Tj ET Q q 0 0 0 rg BT 296.76 707.75 Td (es) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 693.95 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 680.15 Td (W) Tj ET Q q 0 0 0 rg BT 95.43 680.15 Td (e are exposed to losses in the event of nonperformance or nonpayment by counterparties and have ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 666.35 Td (risk management contracts with many counterparties. ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 301.15 666.35 Td (As of ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 328.04 666.35 Td (March31, 2020) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 397.99 666.35 Td ( we have one counterparty for which ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 653.15 Td (our exposure represents approximately ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 223.00 653.15 Td (22%) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 243.16 653.15 Td ( of Pinnacle ) Tj ET Q q 0 0 0 rg BT 298.25 653.15 Td (W) Tj ET Q q 0 0 0 rg BT 307.75 653.15 Td (est's risk management assets. ) Tj ET Q q 0 0 0 rg BT 440.90 653.15 Td (This exposure relates to a ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 639.35 Td (master agreement with a counterparty that has a very high credit rating. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 368.99 639.35 Td (Our risk management process assesses ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 625.55 Td (and monitors the financial exposure of all counterparties. Despite the fact that the great majority of our trading ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 611.75 Td (counterparties' debt is rated as investment grade by the credit rating agencies, there is still a possibility that one ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 597.95 Td (or more of these counterparties could default, resulting in a material impact on consolidated earnings for a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 584.15 Td (given period. Counterparties in the portfolio consist principally of financial institutions, major ener) Tj ET Q q 0 0 0 rg BT 504.73 584.15 Td (gy ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 570.35 Td (companies, municipalities and local distribution companies. ) Tj ET Q q 0 0 0 rg BT 330.67 570.35 Td (W) Tj ET Q q 0 0 0 rg BT 340.60 570.35 Td (e maintain credit policies that we believe ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 556.55 Td (minimize overall credit risk to within acceptable limits. Determination of the credit quality of our ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 542.75 Td (counterparties is based upon a number of factors, including credit ratings and our evaluation of their financial ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 528.95 Td (condition. ) Tj ET Q q 0 0 0 rg BT 101.36 528.95 Td (T) Tj ET Q q 0 0 0 rg BT 107.58 528.95 Td (o manage credit risk, we employ collateral requirements and standardized agreements that allow ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 515.15 Td (for the netting of positive and negative exposures associated with a single counterparty) Tj ET Q q 0 0 0 rg BT 448.59 515.15 Td (. ) Tj ET Q q 0 0 0 rg BT 457.01 515.15 Td (V) Tj ET Q q 0 0 0 rg BT 464.04 515.15 Td (aluation adjustments ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 501.35 Td (are established representing our estimated credit losses on our overall exposure to counterparties.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 487.55 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 473.75 Td (Certain of our derivative instrument contracts contain credit-risk-related contingent features including, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 459.95 Td (among other things, investment grade credit rating provisions, credit-related cross-default provisions, and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 446.15 Td (adequate assurance provisions. ) Tj ET Q q 0 0 0 rg BT 196.72 446.15 Td (Adequate assurance provisions allow a counterparty with reasonable grounds ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 432.35 Td (for uncertainty to demand additional collateral based on subjective events and/or conditions. For those ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 418.55 Td (derivative instruments in a net liability position, with investment grade credit contingencies, the counterparties ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 404.75 Td (could demand additional collateral if our debt credit rating were to fall below investment grade \(below BBB- ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 390.95 Td (for Standard& Poor) Tj ET Q q 0 0 0 rg BT 143.51 390.95 Td () Tj ET Q q 0 0 0 rg BT 146.71 390.95 Td (s or Fitch or Baa3 for Moody) Tj ET Q q 0 0 0 rg BT 284.69 390.95 Td (s\).) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 377.15 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 363.35 Td (The following table provides information about our derivative instruments that have credit-risk-related ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 349.55 Td (contingent features at ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 151.36 349.55 Td (March31, 2020) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 224.50 349.55 Td ( \(dollars in thousands\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 315.05 435.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.00 315.05 78.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 285.05 435.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.00 285.05 78.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 485 315.04999999999995 m 563 315.04999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 485 315.04999999999995 m 563 315.04999999999995 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 319.73 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 490.40 319.73 Td (Mar) Tj ET Q q 0 0 0 rg BT 509.10 319.73 Td (ch 31, 2020) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 304.72 Td (Aggregate fair value of derivative instruments in a net liability position) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.50 304.72 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 304.72 Td (86,955) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 289.72 Td (Cash collateral posted) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.15 289.72 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 274.72 Td (Additional cash collateral in the event credit-risk-related contingent features were fully triggered \(a\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 274.72 Td (81,719) Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 67.50 242.95 Td (\(a\) ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 242.95 Td (This amount is after counterparty netting and includes those contracts which qualify for scope ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 229.15 Td (exceptions, which are excluded from the derivative details above.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 215.35 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 201.55 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 201.55 Td (W) Tj ET Q q 0 0 0 rg BT 95.43 201.55 Td (e also have ener) Tj ET Q q 0 0 0 rg BT 168.98 201.55 Td (gy-related non-derivative instrument contracts with investment grade credit-related ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 187.75 Td (contingent features, which could also require us to post additional collateral of approximately ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 482.55 187.75 Td ($97 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 535.90 187.75 Td ( if ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 173.95 Td (our debt credit ratings were to fall below investment grade.) Tj ET Q endstream endobj 95 0 obj <> endobj 96 0 obj <> stream BT /F2 11.50 Tf ET q 0 0 0 rg BT 84.45 757.95 Td (COMBINED NOTES ) Tj ET Q q 0 0 0 rg BT 193.51 757.95 Td (T) Tj ET Q q 0 0 0 rg BT 200.97 757.95 Td (O CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 356.68 757.95 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 447.74 757.95 Td ( ST) Tj ET Q q 0 0 0 rg BT 463.82 757.95 Td (A) Tj ET Q q 0 0 0 rg BT 471.28 757.95 Td (TEMENTS) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 32.55 Td (45) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 712.25 Td (8. ) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 85.50 712.25 Td (Commitments and Contingencies) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 248.42 712.25 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 698.45 Td () Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 684.65 Td (Palo ) Tj ET Q q 0 0 0 rg BT 73.89 684.65 Td (V) Tj ET Q q 0 0 0 rg BT 81.14 684.65 Td (erde Generating Station) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 670.85 Td () Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 85.50 657.05 Td (Spent Nuclear) Tj ET Q q 0 0 0 rg BT 155.25 657.05 Td ( Fuel and ) Tj ET Q q 0 0 0 rg BT 203.93 657.05 Td (W) Tj ET Q q 0 0 0 rg BT 214.79 657.05 Td (aste Disposal ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 643.25 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 629.45 Td (On December19, 2012, ) Tj ET Q q 0 0 0 rg BT 197.92 629.45 Td (APS, acting on behalf of itself and the participant owners of Palo ) Tj ET Q q 0 0 0 rg BT 500.16 629.45 Td (V) Tj ET Q q 0 0 0 rg BT 507.19 629.45 Td (erde, filed a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 615.65 Td (second breach of contract lawsuit against the United States Department of Ener) Tj ET Q q 0 0 0 rg BT 414.30 615.65 Td (gy \("DOE"\) in the United ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 601.85 Td (States Court of Federal Claims \("Court of Federal Claims"\). ) Tj ET Q q 0 0 0 rg BT 331.13 601.85 Td (The lawsuit sought to recover damages incurred ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 588.05 Td (due to DOE) Tj ET Q q 0 0 0 rg BT 107.63 588.05 Td (s breach of the Contract for Disposal of Spent Nuclear Fuel and/or High Level Radioactive ) Tj ET Q q 0 0 0 rg BT 528.65 588.05 Td (W) Tj ET Q q 0 0 0 rg BT 538.59 588.05 Td (aste ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 574.25 Td (\("Standard Contract"\) for failing to accept Palo ) Tj ET Q q 0 0 0 rg BT 269.13 574.25 Td (V) Tj ET Q q 0 0 0 rg BT 276.16 574.25 Td (erde's spent nuclear fuel and high level waste from January1, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 560.45 Td (2007 through June30, 201) Tj ET Q q 0 0 0 rg BT 172.05 560.45 Td (1, as it was required to do pursuant to the terms of the Standard Contract and the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 546.65 Td (Nuclear ) Tj ET Q q 0 0 0 rg BT 88.56 546.65 Td (W) Tj ET Q q 0 0 0 rg BT 98.49 546.65 Td (aste Policy ) Tj ET Q q 0 0 0 rg BT 150.88 546.65 Td (Act. On ) Tj ET Q q 0 0 0 rg BT 192.41 546.65 Td (August 18, 2014, ) Tj ET Q q 0 0 0 rg BT 273.87 546.65 Td (APS and DOE entered into a settlement agreement, stipulating ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 532.85 Td (to a dismissal of the lawsuit and payment by DOE to the Palo ) Tj ET Q q 0 0 0 rg BT 335.16 532.85 Td (V) Tj ET Q q 0 0 0 rg BT 342.19 532.85 Td (erde owners for certain specified costs incurred ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 519.05 Td (by Palo ) Tj ET Q q 0 0 0 rg BT 86.99 519.05 Td (V) Tj ET Q q 0 0 0 rg BT 94.02 519.05 Td (erde during the period January 1, 2007 through June 30, 201) Tj ET Q q 0 0 0 rg BT 371.45 519.05 Td (1. In addition, the settlement agreement, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 505.25 Td (as amended, provides ) Tj ET Q q 0 0 0 rg BT 151.06 505.25 Td (APS with a method for submitting claims and getting recovery for costs incurred through ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 491.45 Td (December 31, 2019. ) Tj ET Q q 0 0 0 rg BT 148.29 491.45 Td (The DOE is reviewing a possible 3 year extension of the settlement agreement. ) Tj ET Q q 0 0 0 rg BT 517.15 491.45 Td (APS ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 477.65 Td (cannot predict the timing of the DOE's decision on the extension.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 450.05 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 450.05 Td (APS has submitted ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 175.91 450.05 Td (five) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 193.79 450.05 Td ( claims pursuant to the terms of the ) Tj ET Q q 0 0 0 rg BT 357.96 450.05 Td (August 18, 2014 settlement agreement, for ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 436.25 Td (five) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 67.38 436.25 Td ( separate time periods during July 1, 201) Tj ET Q q 0 0 0 rg BT 254.11 436.25 Td (1 through June 30, 2018. ) Tj ET Q q 0 0 0 rg BT 374.01 436.25 Td (The DOE has approved and paid ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 527.30 436.25 Td ($84.3 ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 422.45 Td (million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 82.73 422.45 Td ( for these claims \(APS) Tj ET Q q 0 0 0 rg BT 189.41 422.45 Td (s share is ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 234.44 422.45 Td ($24.5 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 296.42 422.45 Td (\). ) Tj ET Q q 0 0 0 rg BT 308.67 422.45 Td (The amounts recovered were primarily recorded as ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 408.65 Td (adjustments to a regulatory liability and had no impact on reported net income. In accordance with the 2017 ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 394.85 Td (Rate Case Decision, this regulatory liability is being refunded to customers \(see Note 4\). On October 31, 2019, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 381.05 Td (APS filed its next claim pursuant to the terms of the ) Tj ET Q q 0 0 0 rg BT 290.65 381.05 Td (August 18, 2014 settlement agreement in the amount of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 367.25 Td ($16 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 102.85 367.25 Td ( \(APS) Tj ET Q q 0 0 0 rg BT 133.85 367.25 Td (s share is ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 178.88 367.25 Td ($4.7 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 235.11 367.25 Td (\). On February 1) Tj ET Q q 0 0 0 rg BT 314.21 367.25 Td (1, 2020, the DOE approved a payment of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 506.47 367.25 Td ($15.4 ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 353.45 Td (million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 82.73 353.45 Td ( \(APS's share is ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 157.64 353.45 Td ($4.5 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 213.86 353.45 Td (\) and on ) Tj ET Q q 0 0 0 rg BT 253.79 353.45 Td (April 20, 2020, ) Tj ET Q q 0 0 0 rg BT 326.30 353.45 Td (APS received this payment.) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 325.85 Td (Nuclear) Tj ET Q q 0 0 0 rg BT 88.25 325.85 Td ( Insurance ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 298.25 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 298.25 Td (Public liability for incidents at nuclear power plants is governed by the Price-Anderson Nuclear ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 284.45 Td (Industries Indemnity ) Tj ET Q q 0 0 0 rg BT 147.24 284.45 Td (Act \("Price-Anderson ) Tj ET Q q 0 0 0 rg BT 249.66 284.45 Td (Act"\), which limits the liability of nuclear reactor owners to the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 270.65 Td (amount of insurance available from both commercial sources and an industry-wide retrospective payment plan. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 256.85 Td (In accordance with the Price-Anderson ) Tj ET Q q 0 0 0 rg BT 231.20 256.85 Td (Act, the Palo ) Tj ET Q q 0 0 0 rg BT 293.59 256.85 Td (V) Tj ET Q q 0 0 0 rg BT 300.62 256.85 Td (erde participants are insured against public liability for a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 243.05 Td (nuclear incident of up to approximately ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 234.08 243.05 Td ($13.8 billion) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 292.86 243.05 Td ( per occurrence. Palo ) Tj ET Q q 0 0 0 rg BT 395.47 243.05 Td (V) Tj ET Q q 0 0 0 rg BT 402.50 243.05 Td (erde maintains the maximum ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 229.25 Td (available nuclear liability insurance in the amount of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 294.75 229.25 Td ($450 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 353.85 229.25 Td (, which is provided by ) Tj ET Q q 0 0 0 rg BT 458.63 229.25 Td (American Nuclear ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 215.45 Td (Insurers \("ANI"\). ) Tj ET Q q 0 0 0 rg BT 135.32 215.45 Td (The remaining balance of approximately ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 325.32 215.45 Td ($13.3 billion) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 384.10 215.45 Td ( of liability coverage is provided ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 201.65 Td (through a mandatory industry-wide retrospective premium program. If losses at any nuclear power plant ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 187.85 Td (covered by the program exceed the accumulated funds, ) Tj ET Q q 0 0 0 rg BT 305.27 187.85 Td (APS could be responsible for retrospective premiums. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 174.05 Td (The maximum retrospective premium per reactor under the program for each nuclear liability incident is ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 160.25 Td (approximately ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 118.80 160.25 Td ($137.6 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 186.53 160.25 Td (, subject to a maximum annual premium of approximately ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 456.71 160.25 Td ($20.5 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 518.69 160.25 Td ( per ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 146.45 Td (incident. Based on ) Tj ET Q q 0 0 0 rg BT 139.89 146.45 Td (APS) Tj ET Q q 0 0 0 rg BT 164.18 146.45 Td (s ownership interest in the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 287.79 146.45 Td (three) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 310.77 146.45 Td ( Palo ) Tj ET Q q 0 0 0 rg BT 336.76 146.45 Td (V) Tj ET Q q 0 0 0 rg BT 343.79 146.45 Td (erde units, ) Tj ET Q q 0 0 0 rg BT 393.94 146.45 Td (APS) Tj ET Q q 0 0 0 rg BT 418.23 146.45 Td (s maximum retrospective ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 132.65 Td (premium per incident for all ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 182.03 132.65 Td (three) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 205.01 132.65 Td ( units is approximately ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 312.97 132.65 Td ($120.1 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 380.70 132.65 Td (, with a maximum annual retrospective ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 118.85 Td (premium of approximately ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 175.65 118.85 Td ($17.9 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 237.63 118.85 Td (. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 105.05 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 91.25 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 91.25 Td (The Palo ) Tj ET Q q 0 0 0 rg BT 129.37 91.25 Td (V) Tj ET Q q 0 0 0 rg BT 136.40 91.25 Td (erde participants maintain insurance for property damage to, and decontamination of, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 77.45 Td (property at Palo ) Tj ET Q q 0 0 0 rg BT 125.62 77.45 Td (V) Tj ET Q q 0 0 0 rg BT 132.65 77.45 Td (erde in the aggregate amount of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 281.45 77.45 Td ($2.8 billion) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 334.48 77.45 Td (. ) Tj ET Q q 0 0 0 rg BT 342.48 77.45 Td (APS has also secured accidental outage ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 63.65 Td (insurance for a sudden and unforeseen accidental outage of any of the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 373.29 63.65 Td (three) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 396.27 63.65 Td ( units. ) Tj ET Q q 0 0 0 rg BT 429.93 63.65 Td (The property damage, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 49.85 Td (decontamination, and accidental outage insurance are provided by Nuclear Electric Insurance ) Tj ET Q endstream endobj 97 0 obj <> endobj 98 0 obj <> stream BT /F2 11.50 Tf ET q 0 0 0 rg BT 84.45 757.95 Td (COMBINED NOTES ) Tj ET Q q 0 0 0 rg BT 193.51 757.95 Td (T) Tj ET Q q 0 0 0 rg BT 200.97 757.95 Td (O CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 356.68 757.95 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 447.74 757.95 Td ( ST) Tj ET Q q 0 0 0 rg BT 463.82 757.95 Td (A) Tj ET Q q 0 0 0 rg BT 471.28 757.95 Td (TEMENTS) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 32.55 Td (46) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 712.05 Td (Limited\("NEIL"\). ) Tj ET Q q 0 0 0 rg BT 140.01 712.05 Td (APS is subject to retrospective premium adjustments under all NEIL) Tj ET Q q 0 0 0 rg BT 455.46 712.05 Td ( policies if NEIL) Tj ET Q q 0 0 0 rg BT 532.01 712.05 Td () Tj ET Q q 0 0 0 rg BT 535.20 712.05 Td (s ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 698.25 Td (losses in any policy year exceed accumulated funds. ) Tj ET Q q 0 0 0 rg BT 295.18 698.25 Td (The maximum amount ) Tj ET Q q 0 0 0 rg BT 402.19 698.25 Td (APS could incur under the current ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 684.45 Td (NEIL) Tj ET Q q 0 0 0 rg BT 75.26 684.45 Td ( policies totals approximately ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 213.87 684.45 Td ($25.5 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 275.85 684.45 Td ( for each retrospective premium assessment declared by ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 670.65 Td (NEIL) Tj ET Q q 0 0 0 rg BT 74.63 670.65 Td () Tj ET Q q 0 0 0 rg BT 77.82 670.65 Td (s Board of Directors due to losses. In addition, NEIL) Tj ET Q q 0 0 0 rg BT 323.33 670.65 Td ( policies contain rating triggers that would result in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 656.85 Td (APS providing approximately ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 190.37 656.85 Td ($73.4 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 252.34 656.85 Td ( of collateral assurance within ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 393.17 656.85 Td (20) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 404.67 656.85 Td ( business days of a rating ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 643.05 Td (downgrade to non-investment grade. ) Tj ET Q q 0 0 0 rg BT 223.67 643.05 Td (The insurance coverage discussed in this and the previous paragraph is ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 629.25 Td (subject to certain policy conditions, sublimits and exclusions.) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 601.65 Td (Contractual Obligations) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 574.05 Td (As of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 113.61 574.05 Td (March31, 2020) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 186.75 574.05 Td (, there have been no material changes outside the normal course of business in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 560.25 Td (contractual obligations from the information provided in our 2019 Form 10-K. See Note 3 for discussion ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 546.45 Td (regarding changes in our short-term and long-term debt obligations.) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 518.85 Td (Superfund-Related Matters ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 505.05 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 491.25 Td (The Comprehensive Environmental Response Compensation and Liability ) Tj ET Q q 0 0 0 rg BT 430.13 491.25 Td (Act \("Superfund" or ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 477.45 Td ("CERCLA"\) establishes liability for the cleanup of hazardous substances found contaminating the soil, water ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 463.65 Td (or air) Tj ET Q q 0 0 0 rg BT 73.45 463.65 Td (. ) Tj ET Q q 0 0 0 rg BT 81.87 463.65 Td (Those who released, generated, transported to or disposed of hazardous substances at a contaminated ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 449.85 Td (site are among the parties who are potentially responsible \("PRPs"\). PRPs may be strictly) Tj ET Q q 0 0 0 rg BT 462.82 449.85 Td (, and often are jointly ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 436.05 Td (and severally) Tj ET Q q 0 0 0 rg BT 109.74 436.05 Td (, liable for clean-up. On September3, 2003, EP) Tj ET Q q 0 0 0 rg BT 330.01 436.05 Td (A) Tj ET Q q 0 0 0 rg BT 337.68 436.05 Td ( advised ) Tj ET Q q 0 0 0 rg BT 377.93 436.05 Td (APS that EP) Tj ET Q q 0 0 0 rg BT 434.38 436.05 Td (A) Tj ET Q q 0 0 0 rg BT 442.05 436.05 Td ( considers ) Tj ET Q q 0 0 0 rg BT 490.60 436.05 Td (APS to be a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 422.25 Td (PRP) Tj ET Q q 0 0 0 rg BT 69.54 422.25 Td ( in the Motorola 52) Tj ET Q BT /F1 11.50 Tf ET BT /F1 7.47 Tf ET q 0 0 0 rg BT 158.33 427.46 Td (nd) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 165.81 422.25 Td (Street Superfund Site, Operable Unit 3 \("OU3"\) in Phoenix, ) Tj ET Q q 0 0 0 rg BT 446.69 422.25 Td (Arizona. ) Tj ET Q q 0 0 0 rg BT 491.72 422.25 Td (APS has ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 408.45 Td (facilities that are within this Superfund site. ) Tj ET Q q 0 0 0 rg BT 255.51 408.45 Td (APS and Pinnacle ) Tj ET Q q 0 0 0 rg BT 341.23 408.45 Td (W) Tj ET Q q 0 0 0 rg BT 351.16 408.45 Td (est have agreed with EP) Tj ET Q q 0 0 0 rg BT 460.60 408.45 Td (A) Tj ET Q q 0 0 0 rg BT 468.27 408.45 Td ( to perform certain ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 394.65 Td (investigative activities of the ) Tj ET Q q 0 0 0 rg BT 184.28 394.65 Td (APS facilities within OU3. In addition, on September23, 2009, ) Tj ET Q q 0 0 0 rg BT 481.66 394.65 Td (APS agreed with ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 380.85 Td (EP) Tj ET Q q 0 0 0 rg BT 61.87 380.85 Td (A) Tj ET Q q 0 0 0 rg BT 69.54 380.85 Td ( and one other PRP) Tj ET Q q 0 0 0 rg BT 157.91 380.85 Td ( to voluntarily assist with the funding and management of the site-wide groundwater ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 367.05 Td (remedial investigation and feasibility study \("RI/FS"\). Based upon discussions between the OU3 working ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 353.25 Td (group parties and EP) Tj ET Q q 0 0 0 rg BT 144.58 353.25 Td (A, along with the results of recent technical analyses prepared by the OU3 working group ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 339.45 Td (to supplement the RI/FS for OU3, ) Tj ET Q q 0 0 0 rg BT 208.26 339.45 Td (APS anticipates finalizing the RI/FS in the fall of 2020. ) Tj ET Q q 0 0 0 rg BT 469.33 339.45 Td (W) Tj ET Q q 0 0 0 rg BT 479.27 339.45 Td (e estimate that ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 325.65 Td (our costs related to this investigation and study will be approximately ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 372.41 325.65 Td ($3 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 420.01 325.65 Td (. ) Tj ET Q q 0 0 0 rg BT 428.43 325.65 Td (W) Tj ET Q q 0 0 0 rg BT 438.36 325.65 Td (e anticipate incurring ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 311.85 Td (additional expenditures in the future, but because the overall investigation is not complete and ultimate ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 298.05 Td (remediation requirements are not yet finalized, at the present time expenditures related to this matter cannot be ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 284.25 Td (reasonably estimated.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 270.45 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 256.65 Td (On ) Tj ET Q q 0 0 0 rg BT 101.80 256.65 Td (August6, 2013, Roosevelt Irrigation District \("RID"\) filed a lawsuit in ) Tj ET Q q 0 0 0 rg BT 429.63 256.65 Td (Arizona District Court ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 242.85 Td (against ) Tj ET Q q 0 0 0 rg BT 84.32 242.85 Td (APS and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 127.77 242.85 Td (24) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 139.27 242.85 Td ( other defendants, alleging that RID) Tj ET Q q 0 0 0 rg BT 307.25 242.85 Td (s groundwater wells were contaminated by the release ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 229.05 Td (of hazardous substances from facilities owned or operated by the defendants. ) Tj ET Q q 0 0 0 rg BT 409.19 229.05 Td (The lawsuit also alleges that, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 215.25 Td (under Superfund laws, the defendants are jointly and severally liable to RID. ) Tj ET Q q 0 0 0 rg BT 407.93 215.25 Td (The allegations against ) Tj ET Q q 0 0 0 rg BT 516.20 215.25 Td (APS arise ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 201.45 Td (out of ) Tj ET Q q 0 0 0 rg BT 78.89 201.45 Td (APS) Tj ET Q q 0 0 0 rg BT 103.18 201.45 Td (s current and former ownership of facilities in and around OU3. ) Tj ET Q q 0 0 0 rg BT 401.79 201.45 Td (As part of a state governmental ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 187.65 Td (investigation into groundwater contamination in this area, on January 25, 2015, the ) Tj ET Q q 0 0 0 rg BT 433.72 187.65 Td (Arizona Department of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 173.85 Td (Environmental Quality \("ADEQ"\) sent a letter to ) Tj ET Q q 0 0 0 rg BT 277.02 173.85 Td (APS seeking information concerning the degree to which, if ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 160.05 Td (any) Tj ET Q q 0 0 0 rg BT 65.36 160.05 Td (, ) Tj ET Q q 0 0 0 rg BT 70.47 160.05 Td (APS) Tj ET Q q 0 0 0 rg BT 94.77 160.05 Td (s current and former ownership of these facilities may have contributed to groundwater ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 146.25 Td (contamination in this area. ) Tj ET Q q 0 0 0 rg BT 176.61 146.25 Td (APS responded to ) Tj ET Q q 0 0 0 rg BT 261.91 146.25 Td (ADEQ on May 4, 2015. On December 16, 2016, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 491.23 146.25 Td (two) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 508.48 146.25 Td ( RID ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 132.45 Td (environmental and engineering contractors filed an ancillary lawsuit for recovery of costs against ) Tj ET Q q 0 0 0 rg BT 498.81 132.45 Td (APS and the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 118.65 Td (other defendants in the RID litigation. ) Tj ET Q q 0 0 0 rg BT 230.06 118.65 Td (That same day) Tj ET Q q 0 0 0 rg BT 296.38 118.65 Td (, another RID service provider filed an additional ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 104.85 Td (ancillary CERCLA) Tj ET Q q 0 0 0 rg BT 137.34 104.85 Td ( lawsuit against certain of the defendants in the main RID litigation, but excluded ) Tj ET Q q 0 0 0 rg BT 513.88 104.85 Td (APS and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 91.05 Td (certain other parties as named defendants. Because the ancillary lawsuits concern past costs allegedly incurred ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 77.25 Td (by these RID vendors, which were ruled unrecoverable directly by RID in November of 2016, the additional ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 63.45 Td (lawsuits do not increase ) Tj ET Q q 0 0 0 rg BT 161.93 63.45 Td (APS's exposure or risk related to these matters. ) Tj ET Q endstream endobj 99 0 obj <> endobj 100 0 obj <> stream BT /F2 11.50 Tf ET q 0 0 0 rg BT 84.45 757.95 Td (COMBINED NOTES ) Tj ET Q q 0 0 0 rg BT 193.51 757.95 Td (T) Tj ET Q q 0 0 0 rg BT 200.97 757.95 Td (O CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 356.68 757.95 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 447.74 757.95 Td ( ST) Tj ET Q q 0 0 0 rg BT 463.82 757.95 Td (A) Tj ET Q q 0 0 0 rg BT 471.28 757.95 Td (TEMENTS) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 32.55 Td (47) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 712.05 Td (On ) Tj ET Q q 0 0 0 rg BT 101.80 712.05 Td (April 5, 2018, RID and the defendants in that particular litigation executed a settlement agreement, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 698.25 Td (fully resolving RID's CERCLA) Tj ET Q q 0 0 0 rg BT 193.73 698.25 Td ( claims concerning both past and future cost recovery) Tj ET Q q 0 0 0 rg BT 438.87 698.25 Td (. ) Tj ET Q q 0 0 0 rg BT 446.87 698.25 Td (APS's share of this ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 684.45 Td (settlement was immaterial. In addition, the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 251.66 684.45 Td (two) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 268.91 684.45 Td ( environmental and engineering vendors voluntarily dismissed ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 670.65 Td (their lawsuit against ) Tj ET Q q 0 0 0 rg BT 144.36 670.65 Td (APS and the other named defendants without prejudice. ) Tj ET Q q 0 0 0 rg BT 406.25 670.65 Td (An order to this ef) Tj ET Q q 0 0 0 rg BT 490.36 670.65 Td (fect was ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 656.85 Td (entered on ) Tj ET Q q 0 0 0 rg BT 99.95 656.85 Td (April 17, 2018. ) Tj ET Q q 0 0 0 rg BT 175.77 656.85 Td (W) Tj ET Q q 0 0 0 rg BT 186.17 656.85 Td (ith this disposition of the case, the vendors may file their lawsuit again in the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 643.05 Td (future. On ) Tj ET Q q 0 0 0 rg BT 101.88 643.05 Td (August 16, 2019, Maricopa County) Tj ET Q q 0 0 0 rg BT 264.04 643.05 Td (, one of the three direct defendants in the service provider ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 629.25 Td (lawsuit, filed a third-party complaint seeking contribution for its liability) Tj ET Q q 0 0 0 rg BT 383.47 629.25 Td (, if any) Tj ET Q q 0 0 0 rg BT 414.98 629.25 Td (, from ) Tj ET Q q 0 0 0 rg BT 445.32 629.25 Td (APS and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 488.77 629.25 Td (28) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 500.27 629.25 Td ( other third-) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 615.45 Td (party defendants. ) Tj ET Q q 0 0 0 rg BT 134.24 615.45 Td (W) Tj ET Q q 0 0 0 rg BT 144.17 615.45 Td (e are unable to predict the outcome of these matters; however) Tj ET Q q 0 0 0 rg BT 426.63 615.45 Td (, we do not expect the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 601.65 Td (outcome to have a material impact on our financial position, results of operations or cash flows. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 587.85 Td () Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 574.05 Td (Envir) Tj ET Q q 0 0 0 rg BT 77.41 574.05 Td (onmental Matters ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 546.45 Td (APS is subject to numerous environmental laws and regulations af) Tj ET Q q 0 0 0 rg BT 390.95 546.45 Td (fecting many aspects of its present ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 532.65 Td (and future operations, including air emissions of both conventional pollutants and greenhouse gases, water ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 518.85 Td (quality) Tj ET Q q 0 0 0 rg BT 80.69 518.85 Td (, wastewater dischar) Tj ET Q q 0 0 0 rg BT 174.04 518.85 Td (ges, solid waste, hazardous waste, and coal combustion residuals \("CCRs"\). ) Tj ET Q q 0 0 0 rg BT 528.49 518.85 Td (These ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 505.05 Td (laws and regulations can change from time to time, imposing new obligations on ) Tj ET Q q 0 0 0 rg BT 423.19 505.05 Td (APS resulting in increased ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 491.25 Td (capital, operating, and other costs. ) Tj ET Q q 0 0 0 rg BT 212.05 491.25 Td (Associated capital expenditures or operating costs could be material. ) Tj ET Q q 0 0 0 rg BT 533.00 491.25 Td (APS ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 477.45 Td (intends to seek recovery of any such environmental compliance costs through our rates, but cannot predict ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 463.65 Td (whether it will obtain such recovery) Tj ET Q q 0 0 0 rg BT 214.50 463.65 Td (. ) Tj ET Q q 0 0 0 rg BT 222.91 463.65 Td (The following proposed and final rulesinvolve material compliance costs ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 449.85 Td (to ) Tj ET Q q 0 0 0 rg BT 60.69 449.85 Td (APS.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 436.05 Td () Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 85.50 422.25 Td (Regional Haze Rules.) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 188.05 422.25 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 190.93 422.25 Td ( ) Tj ET Q q 0 0 0 rg BT 193.17 422.25 Td (APS has received the final rulemaking imposing new pollution control ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 408.45 Td (requirements on Four Corners. EP) Tj ET Q q 0 0 0 rg BT 208.78 408.45 Td (A) Tj ET Q q 0 0 0 rg BT 216.46 408.45 Td ( required the plant to install pollution control equipment that constitutes ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 394.65 Td (best available retrofit technology \("BAR) Tj ET Q q 0 0 0 rg BT 235.54 394.65 Td (T"\) to lessen the impacts of emissions on visibility surrounding the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 380.85 Td (plant. In addition, EP) Tj ET Q q 0 0 0 rg BT 149.38 380.85 Td (A) Tj ET Q q 0 0 0 rg BT 157.05 380.85 Td ( issued a final rule for Regional Haze compliance at Cholla that does not involve the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 367.05 Td (installation of new pollution controls and that will replace an earlier BAR) Tj ET Q q 0 0 0 rg BT 387.66 367.05 Td (T) Tj ET Q q 0 0 0 rg BT 394.48 367.05 Td ( determination for this facility) Tj ET Q q 0 0 0 rg BT 531.69 367.05 Td (. See ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 353.25 Td (below for details of the Cholla BAR) Tj ET Q q 0 0 0 rg BT 215.54 353.25 Td (T) Tj ET Q q 0 0 0 rg BT 222.35 353.25 Td ( approval.) Tj ET Q BT /F5 11.50 Tf ET q 0 0 0 rg BT 85.50 325.65 Td (Four Corners. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 157.70 325.65 Td (Based on EP) Tj ET Q q 0 0 0 rg BT 215.42 325.65 Td (A) Tj ET Q q 0 0 0 rg BT 222.45 325.65 Td () Tj ET Q q 0 0 0 rg BT 225.65 325.65 Td (s final standards, ) Tj ET Q q 0 0 0 rg BT 305.50 325.65 Td (APS's ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 336.02 325.65 Td (63%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 357.10 325.65 Td ( share of the cost of required controls for ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 311.85 Td (Four Corners Units 4 and 5 was approximately ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 267.97 311.85 Td ($400 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 327.07 311.85 Td (, which has been incurred. In addition, ) Tj ET Q q 0 0 0 rg BT 508.79 311.85 Td (APS and El ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 298.05 Td (Paso Electric Company \("El Paso"\) entered into an asset purchase agreement providing for the purchase by ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 284.25 Td (APS, or an af) Tj ET Q q 0 0 0 rg BT 111.26 284.25 Td (filiate of ) Tj ET Q q 0 0 0 rg BT 152.77 284.25 Td (APS, of El Paso's ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 236.32 284.25 Td (7%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 251.65 284.25 Td ( interest in Four Corners Units 4 and 5. 4CA) Tj ET Q q 0 0 0 rg BT 458.32 284.25 Td ( purchased the El Paso ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 270.45 Td (interest on July 6, 2016. Navajo ) Tj ET Q q 0 0 0 rg BT 201.65 270.45 Td (T) Tj ET Q q 0 0 0 rg BT 208.27 270.45 Td (ransitional Ener) Tj ET Q q 0 0 0 rg BT 281.19 270.45 Td (gy Company) Tj ET Q q 0 0 0 rg BT 339.54 270.45 Td (, LLC \("NTEC"\) purchased the interest from ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 256.65 Td (4CA) Tj ET Q q 0 0 0 rg BT 70.59 256.65 Td ( on July 3, 2018. See "Four Corners - 4CA) Tj ET Q q 0 0 0 rg BT 268.87 256.65 Td ( Matter" below for a discussion of the NTEC purchase. ) Tj ET Q q 0 0 0 rg BT 527.57 256.65 Td (The ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 242.85 Td (cost of the pollution controls related to the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 247.52 242.85 Td (7%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 262.84 242.85 Td ( interest is approximately ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 382.29 242.85 Td ($45 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 435.64 242.85 Td (, which was assumed by ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 229.05 Td (NTEC through its purchase of the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 207.91 229.05 Td (7%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 223.24 229.05 Td ( interest. ) Tj ET Q BT /F5 11.50 Tf ET q 0 0 0 rg BT 85.50 201.45 Td (Cholla) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 116.81 201.45 Td (. ) Tj ET Q q 0 0 0 rg BT 124.80 201.45 Td (APS believed that EP) Tj ET Q q 0 0 0 rg BT 223.09 201.45 Td (A) Tj ET Q q 0 0 0 rg BT 230.12 201.45 Td () Tj ET Q q 0 0 0 rg BT 233.31 201.45 Td (s original 2012 final ruleestablishing controls constituting BAR) Tj ET Q q 0 0 0 rg BT 527.77 201.45 Td (T) Tj ET Q q 0 0 0 rg BT 534.58 201.45 Td ( for ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 187.65 Td (Cholla, which would require installation of SCR controls, was unsupported and that EP) Tj ET Q q 0 0 0 rg BT 450.26 187.65 Td (A) Tj ET Q q 0 0 0 rg BT 457.93 187.65 Td ( had no basis for ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 173.85 Td (disapproving ) Tj ET Q q 0 0 0 rg BT 111.79 173.85 Td (Arizona) Tj ET Q q 0 0 0 rg BT 152.03 173.85 Td (s State Implementation Plan \("SIP"\) and promulgating a FIP) Tj ET Q q 0 0 0 rg BT 429.30 173.85 Td ( that was inconsistent with ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 160.05 Td (the state) Tj ET Q q 0 0 0 rg BT 90.70 160.05 Td (s considered BAR) Tj ET Q q 0 0 0 rg BT 173.69 160.05 Td (T) Tj ET Q q 0 0 0 rg BT 180.51 160.05 Td ( determinations under the regional haze program. In September 2014, ) Tj ET Q q 0 0 0 rg BT 505.29 160.05 Td (APS met ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 146.25 Td (with EP) Tj ET Q q 0 0 0 rg BT 85.19 146.25 Td (A) Tj ET Q q 0 0 0 rg BT 92.86 146.25 Td ( to propose a compromise BAR) Tj ET Q q 0 0 0 rg BT 237.50 146.25 Td (T) Tj ET Q q 0 0 0 rg BT 244.31 146.25 Td ( strategy) Tj ET Q q 0 0 0 rg BT 282.85 146.25 Td (, whereby ) Tj ET Q q 0 0 0 rg BT 330.43 146.25 Td (APS would permanently close Cholla Unit 2 and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 132.45 Td (cease burning coal at Units 1 and 3 by the mid-2020s. \(See "Cholla" in Note 4 for information regarding ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 118.65 Td (future plans for the Cholla plant and details related to the resulting regulatory asset.\) ) Tj ET Q q 0 0 0 rg BT 442.31 118.65 Td (APS made the proposal ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 104.85 Td (with the understanding that additional emission control equipment is unlikely to be required in the future ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 91.05 Td (because retiring and/or converting the units as contemplated in the proposal is more cost ef) Tj ET Q q 0 0 0 rg BT 467.65 91.05 Td (fective than, and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 77.25 Td (will result in increased visibility improvement over) Tj ET Q q 0 0 0 rg BT 284.75 77.25 Td (, the BAR) Tj ET Q q 0 0 0 rg BT 330.38 77.25 Td (T) Tj ET Q q 0 0 0 rg BT 337.19 77.25 Td ( requirements for oxides of nitrogen \("NOx"\) ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 63.45 Td (imposed through EP) Tj ET Q q 0 0 0 rg BT 142.36 63.45 Td (A's BAR) Tj ET Q q 0 0 0 rg BT 183.04 63.45 Td (T) Tj ET Q q 0 0 0 rg BT 189.86 63.45 Td ( FIP) Tj ET Q q 0 0 0 rg BT 208.08 63.45 Td (. In early 2017, EP) Tj ET Q q 0 0 0 rg BT 296.14 63.45 Td (A) Tj ET Q q 0 0 0 rg BT 303.81 63.45 Td ( approved a final rule incorporating ) Tj ET Q q 0 0 0 rg BT 469.22 63.45 Td (APS's compromise ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 49.65 Td (proposal, which took ef) Tj ET Q q 0 0 0 rg BT 157.88 49.65 Td (fect for Cholla on ) Tj ET Q q 0 0 0 rg BT 241.56 49.65 Td (April 26, 2017. ) Tj ET Q endstream endobj 101 0 obj <> endobj 102 0 obj <> stream BT /F2 11.50 Tf ET q 0 0 0 rg BT 84.45 757.95 Td (COMBINED NOTES ) Tj ET Q q 0 0 0 rg BT 193.51 757.95 Td (T) Tj ET Q q 0 0 0 rg BT 200.97 757.95 Td (O CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 356.68 757.95 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 447.74 757.95 Td ( ST) Tj ET Q q 0 0 0 rg BT 463.82 757.95 Td (A) Tj ET Q q 0 0 0 rg BT 471.28 757.95 Td (TEMENTS) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 32.55 Td (48) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 712.05 Td () Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 85.50 698.25 Td (Coal Combustion ) Tj ET Q q 0 0 0 rg BT 170.93 698.25 Td (W) Tj ET Q q 0 0 0 rg BT 180.30 698.25 Td (aste) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 198.83 698.25 Td (.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 201.70 698.25 Td ( On December 19, 2014, EP) Tj ET Q q 0 0 0 rg BT 332.87 698.25 Td (A) Tj ET Q q 0 0 0 rg BT 340.54 698.25 Td ( issued its final regulations governing the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 684.45 Td (handling and disposal of CCR, such as fly ash and bottom ash. ) Tj ET Q q 0 0 0 rg BT 342.84 684.45 Td (The rule regulates CCR as a non-hazardous ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 670.65 Td (waste under Subtitle D of the Resource Conservation and Recovery ) Tj ET Q q 0 0 0 rg BT 362.48 670.65 Td (Act \("RCRA"\) and establishes national ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 656.85 Td (minimum criteria for existing and new CCR landfills and surface impoundments and all lateral expansions. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 643.05 Td (These criteria include standards governing location restrictions, design and operating criteria, groundwater ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 629.25 Td (monitoring and corrective action, closure requirements and post closure care, and recordkeeping, notification, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 615.45 Td (and internet posting requirements. ) Tj ET Q q 0 0 0 rg BT 212.17 615.45 Td (The rule generally requires any existing unlined CCR surface impoundment ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 601.65 Td (that is contaminating groundwater above a regulated constituent) Tj ET Q q 0 0 0 rg BT 347.46 601.65 Td (s groundwater protection standard to stop ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 587.85 Td (receiving CCR and either retrofit or close, and further requires the closure of any CCR landfill or surface ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 574.05 Td (impoundment that cannot meet the applicable performance criteria for location restrictions or structural ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 560.25 Td (integrity) Tj ET Q q 0 0 0 rg BT 87.72 560.25 Td (. Such closure requirements are deemed "forced closure" or "closure for cause" of unlined surface ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 546.45 Td (impoundments, and are the subject of recent regulatory and judicial activities described below) Tj ET Q q 0 0 0 rg BT 481.46 546.45 Td (.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 522.65 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 522.65 Td (Since these regulations were finalized, EP) Tj ET Q q 0 0 0 rg BT 277.97 522.65 Td (A) Tj ET Q q 0 0 0 rg BT 285.64 522.65 Td ( has taken steps to substantially modify the federal rules ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 508.85 Td (governing CCR disposal. ) Tj ET Q q 0 0 0 rg BT 171.00 508.85 Td (While certain changes have been prompted by utility industry petitions, others have ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 495.05 Td (resulted from judicial review) Tj ET Q q 0 0 0 rg BT 181.92 495.05 Td (, court-approved settlements with environmental groups, and statutory changes to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 481.25 Td (RCRA. ) Tj ET Q q 0 0 0 rg BT 89.23 481.25 Td (The following lists the pending regulatory changes that, if finalized, could have a material impact as to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 467.45 Td (how ) Tj ET Q q 0 0 0 rg BT 71.55 467.45 Td (APS manages CCR at its coal-fired power plants:) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 67.50 439.85 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 439.85 Td (Following the passage of the ) Tj ET Q q 0 0 0 rg BT 220.40 439.85 Td (W) Tj ET Q q 0 0 0 rg BT 230.33 439.85 Td (ater Infrastructure Improvements for the Nation ) Tj ET Q q 0 0 0 rg BT 451.95 439.85 Td (Act in 2016, EP) Tj ET Q q 0 0 0 rg BT 524.36 439.85 Td (A) Tj ET Q q 0 0 0 rg BT 532.03 439.85 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 426.05 Td (possesses authority to either authorize states to develop their own permit programs for CCR ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 412.25 Td (management or issue federal permits governing CCR disposal both in states without their own permit ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 398.45 Td (programs and on tribal lands. ) Tj ET Q q 0 0 0 rg BT 225.08 398.45 Td (Although ) Tj ET Q q 0 0 0 rg BT 270.76 398.45 Td (ADEQ has taken steps to develop a CCR permitting program, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 384.65 Td (it is not clear when that program will be put into ef) Tj ET Q q 0 0 0 rg BT 319.39 384.65 Td (fect. On December 19, 2019, EP) Tj ET Q q 0 0 0 rg BT 467.79 384.65 Td (A) Tj ET Q q 0 0 0 rg BT 475.46 384.65 Td ( proposed its own ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 370.85 Td (set of regulations governing the issuance of CCR management permits. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 67.50 343.25 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 343.25 Td (On March 1, 2018, as a result of a settlement with certain environmental groups, EP) Tj ET Q q 0 0 0 rg BT 471.20 343.25 Td (A) Tj ET Q q 0 0 0 rg BT 478.87 343.25 Td ( proposed adding ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 329.45 Td (boron to the list of constituents that trigger corrective action requirements to remediate groundwater ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 315.65 Td (impacted by CCR disposal activities. ) Tj ET Q q 0 0 0 rg BT 260.86 315.65 Td (Apart from a subsequent proposal issued on ) Tj ET Q q 0 0 0 rg BT 464.96 315.65 Td (August 14, 2019 to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 301.85 Td (add a specific, health-based groundwater protection standard for boron, EP) Tj ET Q q 0 0 0 rg BT 429.01 301.85 Td (A) Tj ET Q q 0 0 0 rg BT 436.68 301.85 Td ( has yet to take action on ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 288.05 Td (this proposal. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 67.50 260.45 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 260.45 Td (Based on an ) Tj ET Q q 0 0 0 rg BT 143.95 260.45 Td (August 21, 2018 D.C. Circuit decision, which vacated and remanded those provisions of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 246.65 Td (the EP) Tj ET Q q 0 0 0 rg BT 114.79 246.65 Td (A) Tj ET Q q 0 0 0 rg BT 122.46 246.65 Td ( CCR regulations that allow for the operation of unlined CCR surface impoundments, EP) Tj ET Q q 0 0 0 rg BT 531.52 246.65 Td (A) Tj ET Q q 0 0 0 rg BT 539.19 246.65 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 232.85 Td (recently proposed corresponding changes to federal CCR regulations. On November 4, 2019, EP) Tj ET Q q 0 0 0 rg BT 532.21 232.85 Td (A) Tj ET Q q 0 0 0 rg BT 539.88 232.85 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 219.05 Td (proposed that all unlined CCR surface impoundments, regardless of their impact \(or lack thereof\) upon ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 205.25 Td (surrounding groundwater) Tj ET Q q 0 0 0 rg BT 201.61 205.25 Td (, must cease operation and initiate closure by ) Tj ET Q q 0 0 0 rg BT 410.79 205.25 Td (August 31, 2020 \(with an ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 191.45 Td (optional three-month extension as needed for the completion of alternative disposal capacity\). ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 67.50 163.85 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 163.85 Td (On November 4, 2019, EP) Tj ET Q q 0 0 0 rg BT 206.46 163.85 Td (A) Tj ET Q q 0 0 0 rg BT 214.13 163.85 Td ( also proposed to change the manner by which facilities that have ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 150.05 Td (committed to cease burning coal in the near) Tj ET Q q 0 0 0 rg BT 286.13 150.05 Td (-term may qualify for alternative closure. Such ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 136.25 Td (qualification would allow CCR disposal units at these plants to continue operating, even though they ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 122.45 Td (would otherwise be subject to forced closure under the federal CCR regulations. EP) Tj ET Q q 0 0 0 rg BT 472.79 122.45 Td (A) Tj ET Q q 0 0 0 rg BT 479.82 122.45 Td () Tj ET Q q 0 0 0 rg BT 483.02 122.45 Td (s proposal ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 108.65 Td (regarding alternative closure would require express EP) Tj ET Q q 0 0 0 rg BT 336.72 108.65 Td (A) Tj ET Q q 0 0 0 rg BT 344.39 108.65 Td ( authorization for such facilities to continue ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 94.85 Td (operating their CCR disposal units under alternative closure.) Tj ET Q endstream endobj 103 0 obj <> endobj 104 0 obj <> stream BT /F2 11.50 Tf ET q 0 0 0 rg BT 84.45 757.95 Td (COMBINED NOTES ) Tj ET Q q 0 0 0 rg BT 193.51 757.95 Td (T) Tj ET Q q 0 0 0 rg BT 200.97 757.95 Td (O CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 356.68 757.95 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 447.74 757.95 Td ( ST) Tj ET Q q 0 0 0 rg BT 463.82 757.95 Td (A) Tj ET Q q 0 0 0 rg BT 471.28 757.95 Td (TEMENTS) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 32.55 Td (49) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 712.05 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 712.05 Td (W) Tj ET Q q 0 0 0 rg BT 95.43 712.05 Td (e cannot at this time predict the outcome of these regulatory proceedings or when the EP) Tj ET Q q 0 0 0 rg BT 502.19 712.05 Td (A) Tj ET Q q 0 0 0 rg BT 509.86 712.05 Td ( will take ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 698.25 Td (final action. Depending on the eventual outcome, the costs associated with ) Tj ET Q q 0 0 0 rg BT 397.61 698.25 Td (APS) Tj ET Q q 0 0 0 rg BT 421.90 698.25 Td (s management of CCR could ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 684.45 Td (materially increase, which could af) Tj ET Q q 0 0 0 rg BT 210.54 684.45 Td (fect ) Tj ET Q q 0 0 0 rg BT 230.02 684.45 Td (APS) Tj ET Q q 0 0 0 rg BT 254.31 684.45 Td (s financial position, results of operations, or cash flows.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 670.65 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 656.85 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 656.85 Td (APS currently disposes of CCR in ash ponds and dry storage areas at Cholla and Four Corners. ) Tj ET Q q 0 0 0 rg BT 527.88 656.85 Td (APS ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 643.05 Td (estimates that its share of incremental costs to comply with the CCR rule for Four Corners is approximately ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 629.25 Td ($22 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 102.85 629.25 Td ( and its share of incremental costs to comply with the CCR rule for Cholla is approximately ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 527.32 629.25 Td ($15 ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 615.45 Td (million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 82.73 615.45 Td (. ) Tj ET Q q 0 0 0 rg BT 91.14 615.45 Td (The Navajo Plant disposed of CCR only in a dry landfill storage area. ) Tj ET Q q 0 0 0 rg BT 417.03 615.45 Td (T) Tj ET Q q 0 0 0 rg BT 423.25 615.45 Td (o comply with the CCR rule ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 601.65 Td (for the Navajo Plant, ) Tj ET Q q 0 0 0 rg BT 147.55 601.65 Td (APS's share of incremental costs was approximately ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 390.75 601.65 Td ($1 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 438.35 601.65 Td (, which has been incurred. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 587.85 Td (Additionally) Tj ET Q q 0 0 0 rg BT 106.89 587.85 Td (, the CCR rule requires ongoing, phased groundwater monitoring. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 560.25 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 560.25 Td (As of October 2018, ) Tj ET Q q 0 0 0 rg BT 181.64 560.25 Td (APS has completed the statistical analyses for its CCR disposal units that ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 546.45 Td (triggered assessment monitoring. ) Tj ET Q q 0 0 0 rg BT 206.97 546.45 Td (APS determined that several of its CCR disposal units at Cholla and Four ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 532.65 Td (Corners will need to under) Tj ET Q q 0 0 0 rg BT 171.93 532.65 Td (go corrective action. In addition, under the current regulations, all such disposal ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 518.85 Td (units must cease operating and initiate closure by October 31, 2020. ) Tj ET Q q 0 0 0 rg BT 366.96 518.85 Td (APS initiated an assessment of corrective ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 505.05 Td (measures on January 14, 2019 and expects such assessment will continue through mid- to late-2020. ) Tj ET Q q 0 0 0 rg BT 515.81 505.05 Td (As part of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 491.25 Td (this assessment, ) Tj ET Q q 0 0 0 rg BT 125.21 491.25 Td (APS continues to gather additional groundwater data and perform remedial evaluations as to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 477.45 Td (the CCR disposal units at Cholla and Four Corners under) Tj ET Q q 0 0 0 rg BT 312.18 477.45 Td (going corrective action. In addition, ) Tj ET Q q 0 0 0 rg BT 482.08 477.45 Td (APS will solicit ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 463.65 Td (input from the public, host public hearings, and select remedies as part of this process. Based on the work ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 449.85 Td (performed to date, ) Tj ET Q q 0 0 0 rg BT 136.36 449.85 Td (APS currently estimates that its share of corrective action and monitoring costs at Four ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 436.05 Td (Corners will likely range from ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 192.26 436.05 Td ($10 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 245.61 436.05 Td ( to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 260.31 436.05 Td ($15 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 313.66 436.05 Td (, which would be incurred over 30 years. ) Tj ET Q q 0 0 0 rg BT 507.30 436.05 Td (The ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 422.25 Td (analysis needed to perform a similar cost estimate for Cholla remains ongoing at this time. ) Tj ET Q q 0 0 0 rg BT 470.76 422.25 Td (As ) Tj ET Q q 0 0 0 rg BT 485.78 422.25 Td (APS continues ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 408.45 Td (to implement the CCR rule) Tj ET Q q 0 0 0 rg BT 177.27 408.45 Td (s corrective action assessment process, the current cost estimates may change. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 394.65 Td (Given uncertainties that may exist until we have fully completed the corrective action assessment process, we ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 380.85 Td (cannot predict any ultimate impacts to the Company; however) Tj ET Q q 0 0 0 rg BT 335.19 380.85 Td (, at this time we do not believe the cost estimates ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 367.05 Td (for Cholla and any potential change to the cost estimate for Four Corners would have a material impact on our ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 353.25 Td (financial position, results of operations or cash flows.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 339.45 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 325.65 Td ( ) Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 85.50 325.65 Td (Clean Power Plan/Af) Tj ET Q q 0 0 0 rg BT 186.25 325.65 Td (fordable Clean Energy Regulations) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 353.97 325.65 Td (. On June 19, 2019, EP) Tj ET Q q 0 0 0 rg BT 461.85 325.65 Td (A) Tj ET Q q 0 0 0 rg BT 469.52 325.65 Td ( took final action on ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 311.85 Td (its proposals to repeal EP) Tj ET Q q 0 0 0 rg BT 165.35 311.85 Td (A's 2015 Clean Power Plan \(CPP\) and replace those regulations with a new rule, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 298.05 Td (the ) Tj ET Q q 0 0 0 rg BT 65.79 298.05 Td (Af) Tj ET Q q 0 0 0 rg BT 77.72 298.05 Td (fordable Clean Ener) Tj ET Q q 0 0 0 rg BT 170.11 298.05 Td (gy \(ACE\) regulations. EP) Tj ET Q q 0 0 0 rg BT 300.32 298.05 Td (A) Tj ET Q q 0 0 0 rg BT 307.99 298.05 Td ( originally finalized the CPP) Tj ET Q q 0 0 0 rg BT 438.52 298.05 Td ( on ) Tj ET Q q 0 0 0 rg BT 455.13 298.05 Td (August 3, 2015, and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 284.25 Td (those regulations had been stayed pending judicial review) Tj ET Q q 0 0 0 rg BT 314.78 284.25 Td (. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 256.65 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 256.65 Td (The ) Tj ET Q q 0 0 0 rg BT 105.62 256.65 Td (ACE regulations are based upon measures that can be implemented to improve the heat rate of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 242.85 Td (steam-electric power plants, specifically coal-fired EGUs. In contrast with the CPP) Tj ET Q q 0 0 0 rg BT 433.05 242.85 Td (, EP) Tj ET Q q 0 0 0 rg BT 451.16 242.85 Td (A's ) Tj ET Q q 0 0 0 rg BT 468.26 242.85 Td (ACE regulations ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 229.05 Td (would not involve utility-level generation dispatch shifting away from coal-fired generation and toward ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 215.25 Td (renewable ener) Tj ET Q q 0 0 0 rg BT 119.20 215.25 Td (gy resources and natural gas-fired combined cycle power plants. EP) Tj ET Q q 0 0 0 rg BT 433.34 215.25 Td (A) Tj ET Q q 0 0 0 rg BT 440.37 215.25 Td () Tj ET Q q 0 0 0 rg BT 443.56 215.25 Td (s ) Tj ET Q q 0 0 0 rg BT 450.28 215.25 Td (ACE regulations ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 201.45 Td (provide states and EP) Tj ET Q q 0 0 0 rg BT 147.77 201.45 Td (A) Tj ET Q q 0 0 0 rg BT 155.45 201.45 Td ( regions such as the Navajo Nation with three years to develop plans establishing ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 187.65 Td (source-specific standards of performance based upon application of the ) Tj ET Q q 0 0 0 rg BT 379.37 187.65 Td (ACE rule) Tj ET Q q 0 0 0 rg BT 426.32 187.65 Td (s heat-rate improvement ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 173.85 Td (emission guidelines. ) Tj ET Q q 0 0 0 rg BT 148.95 173.85 Td (While corresponding New Source Review \(NSR\) reform regulations were proposed as ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 160.05 Td (part of EP) Tj ET Q q 0 0 0 rg BT 95.07 160.05 Td (A) Tj ET Q q 0 0 0 rg BT 102.10 160.05 Td () Tj ET Q q 0 0 0 rg BT 105.30 160.05 Td (s initial ) Tj ET Q q 0 0 0 rg BT 141.72 160.05 Td (ACE proposal, the finalized ) Tj ET Q q 0 0 0 rg BT 272.35 160.05 Td (ACE regulations did not include such reform measures. EP) Tj ET Q q 0 0 0 rg BT 545.96 160.05 Td (A) Tj ET Q q 0 0 0 rg BT 553.63 160.05 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 146.25 Td (announced that it will be taking final action on EP) Tj ET Q q 0 0 0 rg BT 279.35 146.25 Td (A's NSR reform proposal for EGUs in the near future. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 118.65 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 118.65 Td (W) Tj ET Q q 0 0 0 rg BT 95.43 118.65 Td (e cannot at this time predict the outcome of EP) Tj ET Q q 0 0 0 rg BT 309.95 118.65 Td (A's regulatory actions repealing and replacing the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 104.85 Td (CPP) Tj ET Q q 0 0 0 rg BT 68.69 104.85 Td (. ) Tj ET Q q 0 0 0 rg BT 77.10 104.85 Td (V) Tj ET Q q 0 0 0 rg BT 84.14 104.85 Td (arious state governments, industry or) Tj ET Q q 0 0 0 rg BT 254.16 104.85 Td (ganizations, and environmental and public-health public interest ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 91.05 Td (groups have filed lawsuits in the D.C. Circuit challenging the legality of EP) Tj ET Q q 0 0 0 rg BT 396.58 91.05 Td (A) Tj ET Q q 0 0 0 rg BT 403.61 91.05 Td () Tj ET Q q 0 0 0 rg BT 406.81 91.05 Td (s action, both in repealing the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 77.25 Td (CPP) Tj ET Q q 0 0 0 rg BT 69.54 77.25 Td ( and issuing the ) Tj ET Q q 0 0 0 rg BT 143.65 77.25 Td (ACE regulations. In addition, to the extent that the ) Tj ET Q q 0 0 0 rg BT 381.27 77.25 Td (ACE regulations go into ef) Tj ET Q q 0 0 0 rg BT 504.99 77.25 Td (fect as ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 63.45 Td (finalized, it is not yet clear how the state of ) Tj ET Q q 0 0 0 rg BT 250.37 63.45 Td (Arizona or EP) Tj ET Q q 0 0 0 rg BT 315.11 63.45 Td (A) Tj ET Q q 0 0 0 rg BT 322.78 63.45 Td ( will implement these regulations as applied to ) Tj ET Q endstream endobj 105 0 obj <> endobj 106 0 obj <> stream BT /F2 11.50 Tf ET q 0 0 0 rg BT 84.45 757.95 Td (COMBINED NOTES ) Tj ET Q q 0 0 0 rg BT 193.51 757.95 Td (T) Tj ET Q q 0 0 0 rg BT 200.97 757.95 Td (O CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 356.68 757.95 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 447.74 757.95 Td ( ST) Tj ET Q q 0 0 0 rg BT 463.82 757.95 Td (A) Tj ET Q q 0 0 0 rg BT 471.28 757.95 Td (TEMENTS) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 32.55 Td (50) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 712.05 Td (APS) Tj ET Q q 0 0 0 rg BT 73.79 712.05 Td (s coal-fired EGUs. In light of these uncertainties, ) Tj ET Q q 0 0 0 rg BT 304.69 712.05 Td (APS is still evaluating the impact of the ) Tj ET Q q 0 0 0 rg BT 489.96 712.05 Td (ACE ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 698.25 Td (regulations on its coal-fired generation fleet.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 670.65 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 670.65 Td (Other environmental rulesthat could involve material compliance costs include those related to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 656.85 Td (ef) Tj ET Q q 0 0 0 rg BT 58.23 656.85 Td (fluent limitations, the ozone national ambient air quality standard and other rulesor matters involving the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 643.05 Td (Clean ) Tj ET Q q 0 0 0 rg BT 78.57 643.05 Td (Air ) Tj ET Q q 0 0 0 rg BT 96.14 643.05 Td (Act, Clean ) Tj ET Q q 0 0 0 rg BT 147.98 643.05 Td (W) Tj ET Q q 0 0 0 rg BT 157.92 643.05 Td (ater ) Tj ET Q q 0 0 0 rg BT 177.39 643.05 Td (Act, Endangered Species ) Tj ET Q q 0 0 0 rg BT 294.91 643.05 Td (Act, RCRA, Superfund, the Navajo Nation, and water ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 629.25 Td (supplies for our power plants. ) Tj ET Q q 0 0 0 rg BT 192.06 629.25 Td (The financial impact of complying with current and future environmental ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 615.45 Td (rulescould jeopardize the economic viability of our coal plants or the willingness or ability of power plant ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 601.65 Td (participants to fund any required equipment upgrades or continue their participation in these plants. ) Tj ET Q q 0 0 0 rg BT 512.36 601.65 Td (The ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 587.85 Td (economics of continuing to own certain resources, particularly our coal plants, may deteriorate, warranting ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 574.05 Td (early retirement of those plants, which may result in asset impairments. ) Tj ET Q q 0 0 0 rg BT 382.93 574.05 Td (APS would seek recovery in rates for ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 560.25 Td (the book value of any remaining investments in the plants as well as other costs related to early retirement, but ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 546.45 Td (cannot predict whether it would obtain such recovery) Tj ET Q q 0 0 0 rg BT 293.69 546.45 Td (.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 532.65 Td ( ) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 518.85 Td (Federal ) Tj ET Q q 0 0 0 rg BT 89.42 518.85 Td (Agency Envir) Tj ET Q q 0 0 0 rg BT 156.61 518.85 Td (onmental Lawsuit Related to Four) Tj ET Q q 0 0 0 rg BT 325.07 518.85 Td ( Corners ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 491.25 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 491.25 Td (On ) Tj ET Q q 0 0 0 rg BT 101.80 491.25 Td (April 20, 2016, several environmental groups filed a lawsuit against the Of) Tj ET Q q 0 0 0 rg BT 446.19 491.25 Td (fice of Surface Mining ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 477.45 Td (Reclamation and Enforcement \("OSM"\) and other federal agencies in the District of ) Tj ET Q q 0 0 0 rg BT 438.26 477.45 Td (Arizona in connection ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 463.65 Td (with their issuance of the approvals that extended the life of Four Corners and the adjacent mine. ) Tj ET Q q 0 0 0 rg BT 500.54 463.65 Td (The lawsuit ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 449.85 Td (alleges that these federal agencies violated both the Endangered Species ) Tj ET Q q 0 0 0 rg BT 383.52 449.85 Td (Act \("ESA"\) and the National ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 436.05 Td (Environmental Policy ) Tj ET Q q 0 0 0 rg BT 152.35 436.05 Td (Act \("NEP) Tj ET Q q 0 0 0 rg BT 201.03 436.05 Td (A"\) in providing the federal approvals necessary to extend operations at the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 422.25 Td (Four Corners Power Plant and the adjacent Navajo Mine past July6, 2016. ) Tj ET Q q 0 0 0 rg BT 398.92 422.25 Td (APS filed a motion to intervene in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 408.45 Td (the proceedings, which was granted on ) Tj ET Q q 0 0 0 rg BT 230.58 408.45 Td (August 3, 2016. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 380.85 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 380.85 Td (On September 15, 2016, NTEC, the company that owns the adjacent mine, filed a motion to intervene ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 367.05 Td (for the purpose of dismissing the lawsuit based on NTEC's tribal sovereign immunity) Tj ET Q q 0 0 0 rg BT 441.14 367.05 Td (. On September 1) Tj ET Q q 0 0 0 rg BT 524.08 367.05 Td (1, 2017, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 353.25 Td (the ) Tj ET Q q 0 0 0 rg BT 65.79 353.25 Td (Arizona District Court issued an order granting NTEC's motion, dismissing the litigation with prejudice, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 339.45 Td (and terminating the proceedings. On November 9, 2017, the environmental group plaintif) Tj ET Q q 0 0 0 rg BT 463.51 339.45 Td (fs appealed the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 325.65 Td (district court order dismissing their lawsuit. On July 29, 2019, the Ninth Circuit Court of ) Tj ET Q q 0 0 0 rg BT 462.52 325.65 Td (Appeals af) Tj ET Q q 0 0 0 rg BT 511.80 325.65 Td (firmed the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 311.85 Td (September 2017 dismissal of the lawsuit, after which the environmental group plaintif) Tj ET Q q 0 0 0 rg BT 445.32 311.85 Td (fs petitioned the Ninth ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 298.05 Td (Circuit for rehearing on September 12, 2019. ) Tj ET Q q 0 0 0 rg BT 261.99 298.05 Td (The Ninth Circuit denied this petition for rehearing on ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 284.25 Td (December1) Tj ET Q q 0 0 0 rg BT 104.95 284.25 Td (1, 2019. On March 24,2020, the environmental group plaintif) Tj ET Q q 0 0 0 rg BT 395.70 284.25 Td (fs filed a Petition for a ) Tj ET Q q 0 0 0 rg BT 501.52 284.25 Td (W) Tj ET Q q 0 0 0 rg BT 511.92 284.25 Td (rit of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 270.45 Td (Certiorari with the U.S. Supreme Court seeking review of the Ninth Circuit decision. ) Tj ET Q q 0 0 0 rg BT 445.65 270.45 Td (W) Tj ET Q q 0 0 0 rg BT 455.59 270.45 Td (e cannot at this time ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 256.65 Td (predict the outcome of this request for further review) Tj ET Q q 0 0 0 rg BT 292.72 256.65 Td (.) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 229.05 Td (Four) Tj ET Q q 0 0 0 rg BT 73.57 229.05 Td ( Corners National Pollutant Discharge Elimination System \("NPDES"\) Permit) Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 49.50 201.45 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 201.45 Td (On July 16, 2018, several environmental groups filed a petition for review before the EP) Tj ET Q q 0 0 0 rg BT 491.32 201.45 Td (A) Tj ET Q q 0 0 0 rg BT 498.99 201.45 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 187.65 Td (Environmental ) Tj ET Q q 0 0 0 rg BT 120.09 187.65 Td (Appeals Board \("EAB"\) concerning the NPDES wastewater dischar) Tj ET Q q 0 0 0 rg BT 432.34 187.65 Td (ge permit for Four Corners, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 173.85 Td (which was reissued on June 12, 2018. ) Tj ET Q q 0 0 0 rg BT 228.80 173.85 Td (The environmental groups allege that the permit was reissued in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 160.05 Td (contravention of several requirements under the Clean ) Tj ET Q q 0 0 0 rg BT 301.88 160.05 Td (W) Tj ET Q q 0 0 0 rg BT 311.82 160.05 Td (ater ) Tj ET Q q 0 0 0 rg BT 331.29 160.05 Td (Act and did not contain required provisions ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 146.25 Td (concerning EP) Tj ET Q q 0 0 0 rg BT 115.83 146.25 Td (A) Tj ET Q q 0 0 0 rg BT 122.86 146.25 Td () Tj ET Q q 0 0 0 rg BT 126.05 146.25 Td (s 2015 revised ef) Tj ET Q q 0 0 0 rg BT 204.09 146.25 Td (fluent limitation guidelines for steam-electric EGUs, 2014 existing-source ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 132.45 Td (regulations governing cooling-water intake structures, and ef) Tj ET Q q 0 0 0 rg BT 329.36 132.45 Td (fluent limits for surface seepage and subsurface ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 118.65 Td (dischar) Tj ET Q q 0 0 0 rg BT 82.50 118.65 Td (ges from coal-ash disposal facilities. ) Tj ET Q q 0 0 0 rg BT 255.71 118.65 Td (T) Tj ET Q q 0 0 0 rg BT 261.93 118.65 Td (o address certain of these issues through a reconsidered permit, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 104.85 Td (EP) Tj ET Q q 0 0 0 rg BT 61.87 104.85 Td (A) Tj ET Q q 0 0 0 rg BT 69.54 104.85 Td ( took action on December 19, 2018 to withdraw the NPDES permit reissued in June 2018. ) Tj ET Q q 0 0 0 rg BT 489.33 104.85 Td (W) Tj ET Q q 0 0 0 rg BT 499.73 104.85 Td (ithdrawal of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 91.05 Td (the permit moots the EAB appeal, and EP) Tj ET Q q 0 0 0 rg BT 240.71 91.05 Td (A) Tj ET Q q 0 0 0 rg BT 248.39 91.05 Td ( filed a motion to dismiss on that basis. ) Tj ET Q q 0 0 0 rg BT 433.77 91.05 Td (The EAB thereafter ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 77.25 Td (dismissed the environmental group appeal on February 12, 2019. EP) Tj ET Q q 0 0 0 rg BT 366.56 77.25 Td (A) Tj ET Q q 0 0 0 rg BT 374.23 77.25 Td ( then issued a revised final NPDES ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 63.45 Td (permit for Four Corners on September 30, 2019. ) Tj ET Q q 0 0 0 rg BT 277.66 63.45 Td (This permit is now subject to a petition for review before the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 49.65 Td (EAB, based upon a November 1, 2019 filing by several environmental groups. ) Tj ET Q endstream endobj 107 0 obj <> endobj 108 0 obj <> stream BT /F2 11.50 Tf ET q 0 0 0 rg BT 84.45 757.95 Td (COMBINED NOTES ) Tj ET Q q 0 0 0 rg BT 193.51 757.95 Td (T) Tj ET Q q 0 0 0 rg BT 200.97 757.95 Td (O CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 356.68 757.95 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 447.74 757.95 Td ( ST) Tj ET Q q 0 0 0 rg BT 463.82 757.95 Td (A) Tj ET Q q 0 0 0 rg BT 471.28 757.95 Td (TEMENTS) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 32.55 Td (51) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 712.05 Td (W) Tj ET Q q 0 0 0 rg BT 59.43 712.05 Td (e cannot predict the outcome of this review and whether the review will have a material impact on our ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 698.25 Td (financial position, results of operations or cash flows.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 684.45 Td ( ) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 670.65 Td (Four) Tj ET Q q 0 0 0 rg BT 73.57 670.65 Td ( Corners - 4CA) Tj ET Q q 0 0 0 rg BT 147.99 670.65 Td ( Matter) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 643.05 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 643.05 Td (On July 6, 2016, 4CA) Tj ET Q q 0 0 0 rg BT 185.82 643.05 Td ( purchased El Paso) Tj ET Q q 0 0 0 rg BT 276.20 643.05 Td (s ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 283.55 643.05 Td (7%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 298.88 643.05 Td ( interest in Four Corners. NTEC had the option to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 629.25 Td (purchase the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 110.17 629.25 Td (7%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 125.50 629.25 Td ( interest and ultimately purchased the interest on July 3, 2018. NTEC purchased the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 516.09 629.25 Td (7%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 531.42 629.25 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 615.45 Td (interest at 4CA) Tj ET Q q 0 0 0 rg BT 117.85 615.45 Td () Tj ET Q q 0 0 0 rg BT 121.05 615.45 Td (s book value, approximately ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 254.23 615.45 Td ($70 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 307.58 615.45 Td (, and is paying 4CA) Tj ET Q q 0 0 0 rg BT 398.62 615.45 Td ( the purchase price over a period of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 601.65 Td (four years pursuant to a secured interest-bearing promissory note. ) Tj ET Q q 0 0 0 rg BT 356.83 601.65 Td (The note is secured by a portion of ) Tj ET Q q 0 0 0 rg BT 519.07 601.65 Td (APS) Tj ET Q q 0 0 0 rg BT 543.36 601.65 Td (s ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 587.85 Td (payments to be owed to NTEC under the 2016 Coal Supply ) Tj ET Q q 0 0 0 rg BT 325.79 587.85 Td (Agreement. ) Tj ET Q q 0 0 0 rg BT 382.00 587.85 Td (As of March 31, 2020, the note has a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 574.05 Td (remaining balance of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 149.44 574.05 Td ($40 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 202.79 574.05 Td (. NTEC continues to make payments in accordance with the terms of the note. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 560.25 Td (Due to its short-remaining term, among other factors, there are no expected credit losses associated with the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 546.45 Td (note. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 522.65 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 522.65 Td (In connection with the sale, Pinnacle ) Tj ET Q q 0 0 0 rg BT 257.43 522.65 Td (W) Tj ET Q q 0 0 0 rg BT 267.36 522.65 Td (est guaranteed certain obligations that NTEC will have to the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 508.85 Td (other owners of Four Corners, such as NTEC's ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 267.17 508.85 Td (7%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 282.50 508.85 Td ( share of capital expenditures and operating and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 495.05 Td (maintenance expenses. Pinnacle ) Tj ET Q q 0 0 0 rg BT 202.89 495.05 Td (W) Tj ET Q q 0 0 0 rg BT 212.82 495.05 Td (est's guarantee is secured by a portion of ) Tj ET Q q 0 0 0 rg BT 401.40 495.05 Td (APS's payments to be owed to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 481.25 Td (NTEC under the 2016 Coal Supply ) Tj ET Q q 0 0 0 rg BT 213.69 481.25 Td (Agreement.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 457.45 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 457.45 Td (The 2016 Coal Supply ) Tj ET Q q 0 0 0 rg BT 191.56 457.45 Td (Agreement contained alternate pricing terms for the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 432.64 457.45 Td (7%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 447.97 457.45 Td ( interest in the event ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 443.65 Td (NTEC did not purchase the interest. Until the time that NTEC purchased the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 406.88 443.65 Td (7%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 422.21 443.65 Td ( interest, the alternate pricing ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 429.85 Td (provisions were applicable to 4CA) Tj ET Q q 0 0 0 rg BT 208.56 429.85 Td ( as the holder of the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 302.44 429.85 Td (7%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 317.77 429.85 Td ( interest. ) Tj ET Q q 0 0 0 rg BT 362.92 429.85 Td (These terms included a formula under ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 416.05 Td (which NTEC must make certain payments to 4CA) Tj ET Q q 0 0 0 rg BT 280.42 416.05 Td ( for reimbursement of operations and maintenance costs and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 402.25 Td (a specified rate of return, of) Tj ET Q q 0 0 0 rg BT 177.01 402.25 Td (fset by revenue generated by 4CA) Tj ET Q q 0 0 0 rg BT 332.52 402.25 Td () Tj ET Q q 0 0 0 rg BT 335.72 402.25 Td (s power sales. ) Tj ET Q q 0 0 0 rg BT 405.46 402.25 Td (The amount under this formula ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 388.45 Td (for calendar year 2018 \(up to the date that NTEC purchased the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 344.56 388.45 Td (7%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 359.89 388.45 Td ( interest\) was approximately ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 493.38 388.45 Td ($10 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 546.73 388.45 Td (, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 374.65 Td (which was due to 4CA) Tj ET Q q 0 0 0 rg BT 153.63 374.65 Td ( on December 31, 2019. Such payment was satisfied in January 2020 by NTEC ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 360.85 Td (directing to 4CA) Tj ET Q q 0 0 0 rg BT 126.16 360.85 Td ( a prepayment from ) Tj ET Q q 0 0 0 rg BT 218.77 360.85 Td (APS of future coal payment obligations. ) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 337.05 Td (Financial ) Tj ET Q q 0 0 0 rg BT 97.75 337.05 Td (Assurances) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 309.45 Td (In the normal course of business, we obtain standby letters of credit and surety bonds from financial ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 295.65 Td (institutions and other third parties. ) Tj ET Q q 0 0 0 rg BT 213.15 295.65 Td (These instruments guarantee our own future performance and provide third ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 281.85 Td (parties with financial and performance assurance in the event we do not perform. ) Tj ET Q q 0 0 0 rg BT 424.82 281.85 Td (These instruments support ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 268.05 Td (commodity contract collateral obligations and other transactions. ) Tj ET Q q 0 0 0 rg BT 353.21 268.05 Td (As of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 381.32 268.05 Td (March31, 2020) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 454.46 268.05 Td (, standby letters of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 254.25 Td (credit totaled ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 112.72 254.25 Td ($1.7 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 168.95 254.25 Td ( and will expire in 2020. ) Tj ET Q q 0 0 0 rg BT 286.49 254.25 Td (As of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 314.60 254.25 Td (March31, 2020) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 387.74 254.25 Td (, surety bonds expiring through 2020 ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 240.45 Td (totaled ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 83.67 240.45 Td ($14 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 137.02 240.45 Td (. ) Tj ET Q q 0 0 0 rg BT 145.44 240.45 Td (The underlying liabilities insured by these instruments are reflected on our balance sheets, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 226.65 Td (where applicable. ) Tj ET Q q 0 0 0 rg BT 133.27 226.65 Td (Therefore, no additional liability is reflected for the letters of credit and surety bonds ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 212.85 Td (themselves. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 199.05 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 185.25 Td (W) Tj ET Q q 0 0 0 rg BT 95.43 185.25 Td (e enter into agreements that include indemnification provisions relating to liabilities arising from or ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 171.45 Td (related to certain of our agreements. Most significantly) Tj ET Q q 0 0 0 rg BT 304.55 171.45 Td (, ) Tj ET Q q 0 0 0 rg BT 309.67 171.45 Td (APS has agreed to indemnify the equity participants ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 157.65 Td (and other parties in the Palo ) Tj ET Q q 0 0 0 rg BT 180.87 157.65 Td (V) Tj ET Q q 0 0 0 rg BT 187.90 157.65 Td (erde sale leaseback transactions with respect to certain tax matters. Generally) Tj ET Q q 0 0 0 rg BT 545.43 157.65 Td (, a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 143.85 Td (maximum obligation is not explicitly stated in the indemnification provisions and, therefore, the overall ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 130.05 Td (maximum amount of the obligation under such indemnification provisions cannot be reasonably estimated. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 116.25 Td (Based on historical experience and evaluation of the specific indemnities, we do not believe that any material ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 102.45 Td (loss related to such indemnification provisions is likely) Tj ET Q q 0 0 0 rg BT 302.68 102.45 Td (.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 88.65 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 74.85 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 74.85 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 127.77 74.85 Td (W) Tj ET Q q 0 0 0 rg BT 137.70 74.85 Td (est has issued parental guarantees and has provided indemnification under certain surety ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 61.05 Td (bonds for ) Tj ET Q q 0 0 0 rg BT 95.50 61.05 Td (APS which were not material at ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 244.97 61.05 Td (March31, 2020) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 318.10 61.05 Td (. In connection with the sale of 4CA's ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 499.99 61.05 Td (7%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 515.32 61.05 Td ( interest ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 47.25 Td (to NTEC, Pinnacle ) Tj ET Q q 0 0 0 rg BT 139.36 47.25 Td (W) Tj ET Q q 0 0 0 rg BT 149.30 47.25 Td (est is guaranteeing certain obligations that NTEC will have to the other owners of Four ) Tj ET Q endstream endobj 109 0 obj <> endobj 110 0 obj <> stream BT /F2 11.50 Tf ET q 0 0 0 rg BT 84.45 757.95 Td (COMBINED NOTES ) Tj ET Q q 0 0 0 rg BT 193.51 757.95 Td (T) Tj ET Q q 0 0 0 rg BT 200.97 757.95 Td (O CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 356.68 757.95 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 447.74 757.95 Td ( ST) Tj ET Q q 0 0 0 rg BT 463.82 757.95 Td (A) Tj ET Q q 0 0 0 rg BT 471.28 757.95 Td (TEMENTS) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 32.55 Td (52) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 712.05 Td (Corners. \(See "Four Corners - 4CA) Tj ET Q q 0 0 0 rg BT 214.22 712.05 Td ( Matter" above for information related to this guarantee.\) Pinnacle ) Tj ET Q q 0 0 0 rg BT 523.99 712.05 Td (W) Tj ET Q q 0 0 0 rg BT 533.93 712.05 Td (est ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 698.25 Td (has not needed to perform under this guarantee. ) Tj ET Q q 0 0 0 rg BT 273.68 698.25 Td (A) Tj ET Q q 0 0 0 rg BT 281.35 698.25 Td ( maximum obligation is not explicitly stated in the guarantee ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 684.45 Td (and, therefore, the overall maximum amount of the obligation under such guarantee cannot be reasonably ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 670.65 Td (estimated; however) Tj ET Q q 0 0 0 rg BT 138.77 670.65 Td (, we consider the fair value of this guarantee, including expected credit losses, to be ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 656.85 Td (immaterial.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 633.05 Td ( In connection with BCE) Tj ET Q q 0 0 0 rg BT 205.92 633.05 Td (s acquisition of minority ownership positions in the Clear Creek and Nobles ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 619.25 Td (2 wind farms, Pinnacle ) Tj ET Q q 0 0 0 rg BT 158.20 619.25 Td (W) Tj ET Q q 0 0 0 rg BT 168.14 619.25 Td (est has issued parental guarantees to guarantee the obligations of BCE subsidiaries to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 605.45 Td (make required equity contributions to fund project construction \(the Equity Contribution Guarantees\) and to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 591.65 Td (make production tax credit funding payments to borrowers of the projects \(the PTC Guarantees\). ) Tj ET Q q 0 0 0 rg BT 510.44 591.65 Td (The ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 577.85 Td (amounts guaranteed by Pinnacle ) Tj ET Q q 0 0 0 rg BT 201.31 577.85 Td (W) Tj ET Q q 0 0 0 rg BT 211.24 577.85 Td (est reduce as payments are made under the respective guaranteed ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 564.05 Td (agreements. ) Tj ET Q q 0 0 0 rg BT 110.28 564.05 Td (The Equity Contribution Guarantees are currently anticipated to be terminated upon completion ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 550.25 Td (of construction of the respective projects, which is anticipated to occur prior to December 31, 2020, and the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 536.45 Td (PTC Guarantees \(approximately ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 201.19 536.45 Td ($40 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 254.55 536.45 Td ( as of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 282.33 536.45 Td (March31, 2020) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 355.47 536.45 Td (\) are currently expected to be terminated ten ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 522.65 Td (years following the commercial operation date of the applicable project. ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 495.05 Td ( ) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 51.50 495.05 Td (9. ) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 85.50 495.05 Td (Other) Tj ET Q q 0 0 0 rg BT 114.67 495.05 Td ( Income and Other) Tj ET Q q 0 0 0 rg BT 207.42 495.05 Td ( Expense) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 251.19 495.05 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 481.25 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 467.45 Td (The following table provides detail of Pinnacle ) Tj ET Q q 0 0 0 rg BT 304.70 467.45 Td (W) Tj ET Q q 0 0 0 rg BT 314.63 467.45 Td (est's Consolidated other income and other expense ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 453.65 Td (for the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 82.71 453.65 Td (three months ended March 31, 2020) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 248.78 453.65 Td ( and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 271.14 453.65 Td (2019) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 294.14 453.65 Td ( \(dollars in thousands\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 388.35 393.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.00 388.35 58.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.00 388.35 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.00 388.35 58.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 356.35 393.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.00 356.35 58.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.00 356.35 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.00 356.35 58.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 324.35 393.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.00 324.35 58.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.00 324.35 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.00 324.35 58.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 292.35 393.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.00 292.35 58.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.00 292.35 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.00 292.35 58.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 260.35 393.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.00 260.35 58.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.00 260.35 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.00 260.35 58.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 228.35 393.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.00 228.35 58.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.00 228.35 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.00 228.35 58.00 -16.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443 403.35 m 501 403.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 501 403.35 m 505 403.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505 403.35 m 563 403.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443 403.35 m 501 403.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443 388.35 m 501 388.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 501 403.35 m 505 403.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505 403.35 m 563 403.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505 388.35 m 563 388.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443 308.35 m 501 308.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443 293.35 m 501 293.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443 291.35 m 501 291.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505 308.35 m 563 308.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505 293.35 m 563 293.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505 291.35 m 563 291.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443 228.35000000000002 m 501 228.35000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505 228.35000000000002 m 563 228.35000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443 228.35000000000002 m 501 228.35000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443 213.35000000000002 m 501 213.35000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443 211.35000000000002 m 501 211.35000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505 228.35000000000002 m 563 228.35000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505 213.35000000000002 m 563 213.35000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505 211.35000000000002 m 563 211.35000000000002 l s BT /F2 11.00 Tf ET q 0 0 0 rg BT 52.50 408.25 Td () Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 452.45 419.25 Td (Thr) Tj ET Q q 0 0 0 rg BT 470.69 419.25 Td (ee Months Ended) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 478.45 408.25 Td (Mar) Tj ET Q q 0 0 0 rg BT 499.12 408.25 Td (ch 31,) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 52.50 393.25 Td () Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 460.50 393.25 Td (2020) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 522.50 393.25 Td (2019) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 377.38 Td (Other income:) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 497.50 377.38 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 559.50 377.38 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 58.50 361.38 Td (Interest income) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 445.50 361.38 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 470.75 361.38 Td (3,277) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 507.50 361.38 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 532.75 361.38 Td (2,302) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 58.50 345.38 Td (Debt return on Four Corners SCR deferrals \(Note 4\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 470.75 345.38 Td (3,140) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 532.75 345.38 Td (4,844) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 58.50 329.38 Td (Debt return on Ocotillo modernization project \(Note 4\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 470.75 329.38 Td (6,144) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 547.15 329.38 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 58.50 313.38 Td (Miscellaneous) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 490.90 313.38 Td (8) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 547.15 313.38 Td (23) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 297.38 Td (T) Tj ET Q q 0 0 0 rg BT 59.12 297.38 Td (otal other income) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 445.50 297.38 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 465.00 297.38 Td (12,569) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 507.50 297.38 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 532.75 297.38 Td (7,169) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 281.38 Td (Other expense:) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 497.50 281.38 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 559.50 281.38 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 58.50 265.38 Td (Non-operating costs) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 445.50 265.38 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 466.90 265.38 Td (\(2,658) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 496.65 265.38 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 507.50 265.38 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 528.90 265.38 Td (\(2,704) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 558.65 265.38 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 58.50 249.38 Td (Investment gains net) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 485.15 249.38 Td (60) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 537.55 249.43 Td (\(238) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 558.65 249.38 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 58.50 233.38 Td (Miscellaneous) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 466.90 233.38 Td (\(2,186) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 496.65 233.38 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 528.90 233.38 Td (\(1,416) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 558.65 233.38 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 217.38 Td (T) Tj ET Q q 0 0 0 rg BT 58.72 217.38 Td (otal other expense) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 445.50 217.38 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 466.90 217.38 Td (\(4,784) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 496.65 217.38 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 507.50 217.38 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 528.90 217.38 Td (\(4,358) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 558.65 217.38 Td (\)) Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 306.00 199.05 Td () Tj ET Q endstream endobj 111 0 obj <> endobj 112 0 obj <> stream BT /F2 11.50 Tf ET q 0 0 0 rg BT 84.45 757.95 Td (COMBINED NOTES ) Tj ET Q q 0 0 0 rg BT 193.51 757.95 Td (T) Tj ET Q q 0 0 0 rg BT 200.97 757.95 Td (O CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 356.68 757.95 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 447.74 757.95 Td ( ST) Tj ET Q q 0 0 0 rg BT 463.82 757.95 Td (A) Tj ET Q q 0 0 0 rg BT 471.28 757.95 Td (TEMENTS) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 32.55 Td (53) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 712.05 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 712.05 Td (The following table provides detail of ) Tj ET Q q 0 0 0 rg BT 261.79 712.05 Td (APS) Tj ET Q q 0 0 0 rg BT 286.09 712.05 Td (s other income and other expense for the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 475.77 712.05 Td (three months ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 698.25 Td (ended March 31, 2020) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 152.97 698.25 Td ( and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 175.33 698.25 Td (2019) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 198.33 698.25 Td ( \(dollars in thousands\): ) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 646.75 393.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.00 646.75 58.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.00 646.75 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.00 646.75 58.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 614.75 393.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.00 614.75 58.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.00 614.75 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.00 614.75 58.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 582.75 393.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.00 582.75 58.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.00 582.75 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.00 582.75 58.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 550.75 393.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.00 550.75 58.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.00 550.75 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.00 550.75 58.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 518.75 393.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.00 518.75 58.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.00 518.75 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.00 518.75 58.00 -16.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443 661.75 m 501 661.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 501 661.75 m 505 661.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505 661.75 m 563 661.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443 661.75 m 501 661.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443 646.75 m 501 646.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505 661.75 m 563 661.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505 646.75 m 563 646.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443 566.75 m 501 566.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443 551.75 m 501 551.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443 549.75 m 501 549.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505 566.75 m 563 566.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505 551.75 m 563 551.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505 549.75 m 563 549.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443 502.75 m 501 502.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505 502.75 m 563 502.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443 502.75 m 501 502.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443 487.75 m 501 487.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443 485.75 m 501 485.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505 502.75 m 563 502.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505 487.75 m 563 487.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505 485.75 m 563 485.75 l s BT /F2 11.00 Tf ET q 0 0 0 rg BT 52.50 666.65 Td () Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 452.45 677.65 Td (Thr) Tj ET Q q 0 0 0 rg BT 470.69 677.65 Td (ee Months Ended) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 478.45 666.65 Td (Mar) Tj ET Q q 0 0 0 rg BT 499.12 666.65 Td (ch 31,) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 52.50 651.65 Td () Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 460.50 651.65 Td (2020) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 522.50 651.65 Td (2019) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 635.78 Td (Other income:) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 497.50 635.78 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 559.50 635.78 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 58.50 619.78 Td (Interest income) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 445.50 619.78 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 470.75 619.78 Td (2,341) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 507.50 619.78 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 532.75 619.78 Td (1,550) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 58.50 603.78 Td (Debt return on Four Corners SCR deferrals \(Note 4\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 470.75 603.78 Td (3,140) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 532.75 603.78 Td (4,844) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 58.50 587.78 Td (Debt return on Ocotillo modernization project \(Note 4\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 470.75 587.78 Td (6,144) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 547.15 587.78 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 58.50 571.78 Td (Miscellaneous) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 490.90 571.78 Td (8) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 547.15 571.78 Td (22) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 555.78 Td (T) Tj ET Q q 0 0 0 rg BT 59.12 555.78 Td (otal other income) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 445.50 555.78 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 465.00 555.78 Td (1) Tj ET Q q 0 0 0 rg BT 470.75 555.78 Td (1,633) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 507.50 555.78 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 532.75 555.78 Td (6,416) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 539.78 Td (Other expense:) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 497.50 539.78 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 559.50 539.78 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 58.50 523.78 Td (Non-operating costs) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 445.50 523.78 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 466.90 523.78 Td (\(2,482) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 496.65 523.78 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 507.50 523.78 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 528.90 523.78 Td (\(2,467) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 558.65 523.78 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 58.50 507.78 Td (Miscellaneous) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 466.90 507.78 Td (\(2,186) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 496.65 507.78 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 528.90 507.78 Td (\(1,41) Tj ET Q q 0 0 0 rg BT 552.85 507.78 Td (1) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 558.65 507.78 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 491.78 Td (T) Tj ET Q q 0 0 0 rg BT 58.72 491.78 Td (otal other expense) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 445.50 491.78 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 466.90 491.78 Td (\(4,668) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 496.65 491.78 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 507.50 491.78 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 528.90 491.78 Td (\(3,878) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 558.65 491.78 Td (\)) Tj ET Q BT /F1 11.50 Tf ET BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 459.65 Td (10. ) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 85.50 459.65 Td (Earnings Per) Tj ET Q q 0 0 0 rg BT 150.14 459.65 Td ( Shar) Tj ET Q q 0 0 0 rg BT 176.45 459.65 Td (e) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 181.56 459.65 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 445.85 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 432.05 Td (The following table presents the calculation of Pinnacle ) Tj ET Q q 0 0 0 rg BT 344.61 432.05 Td (W) Tj ET Q q 0 0 0 rg BT 354.54 432.05 Td (est) Tj ET Q q 0 0 0 rg BT 370.51 432.05 Td (s basic and diluted earnings per share for ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 418.25 Td (the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 66.42 418.25 Td (three months ended March 31, 2020) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 232.50 418.25 Td ( and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 254.85 418.25 Td (2019) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 277.85 418.25 Td ( \(in thousands, except per share amounts\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 363.75 378.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 363.75 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 363.75 5.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 363.75 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 331.75 378.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 331.75 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 331.75 5.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 331.75 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 299.75 378.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 299.75 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 299.75 5.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 299.75 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 267.75 378.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 267.75 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 267.75 5.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 267.75 65.00 -16.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 382.75 m 493 382.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493 382.75 m 498 382.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 382.75 m 493 382.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 363.75 m 493 363.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493 382.75 m 498 382.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 382.75 m 563 382.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 363.75 m 563 363.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 363.75 m 493 363.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 363.75 m 563 363.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 346.75 m 493 346.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 348.75 m 493 348.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 346.75 m 563 346.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 348.75 m 563 348.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 299.75 m 493 299.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 284.75 m 493 284.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 282.75 m 493 282.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 299.75 m 563 299.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 284.75 m 563 284.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 282.75 m 563 282.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 250.75 m 493 250.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 252.75 m 493 252.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 236.75 m 493 236.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 234.75 m 493 234.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 250.75 m 563 250.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 252.75 m 563 252.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 236.75 m 563 236.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 234.75 m 563 234.75 l s BT /F2 11.00 Tf ET q 0 0 0 rg BT 52.50 387.65 Td () Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 444.95 397.80 Td (Thr) Tj ET Q q 0 0 0 rg BT 463.19 397.80 Td (ee Months Ended) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 470.95 386.80 Td (Mar) Tj ET Q q 0 0 0 rg BT 491.62 386.80 Td (ch 31,) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 52.50 368.65 Td () Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 449.00 368.65 Td (2020) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 519.00 368.65 Td (2019) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 52.50 352.67 Td (Net income attributable to common shareholders) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 430.50 352.67 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 458.50 352.67 Td (29,993) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 500.50 352.67 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 528.50 352.67 Td (17,918) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 52.50 336.67 Td (W) Tj ET Q q 0 0 0 rg BT 62.44 336.67 Td (eighted average common shares outstanding basic) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 453.00 336.67 Td (1) Tj ET Q q 0 0 0 rg BT 458.50 336.67 Td (12,594) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 523.00 336.67 Td (1) Tj ET Q q 0 0 0 rg BT 528.50 336.67 Td (12,337) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 52.50 320.67 Td (Net ef) Tj ET Q q 0 0 0 rg BT 79.48 320.67 Td (fect of dilutive securities:) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 52.50 304.67 Td (Contingently issuable performance shares and restricted stock units) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 472.30 304.67 Td (268) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 542.30 304.67 Td (398) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 52.50 288.67 Td (W) Tj ET Q q 0 0 0 rg BT 62.44 288.67 Td (eighted average common shares outstanding diluted) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 453.00 288.67 Td (1) Tj ET Q q 0 0 0 rg BT 458.50 288.67 Td (12,862) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 523.00 288.67 Td (1) Tj ET Q q 0 0 0 rg BT 528.50 288.67 Td (12,735) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 52.50 272.67 Td (Earnings per weighted-average common share outstanding) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 64.50 256.67 Td (Net income attributable to common shareholders basic) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 430.50 256.67 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 469.55 256.67 Td (0.27) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 500.50 256.67 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 539.55 256.67 Td (0.16) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 64.50 240.67 Td (Net income attributable to common shareholders diluted) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 430.50 240.67 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 469.55 240.67 Td (0.27) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 500.50 240.67 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 539.55 240.67 Td (0.16) Tj ET Q BT /F1 11.50 Tf ET BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 208.65 Td (1) Tj ET Q q 0 0 0 rg BT 54.62 208.65 Td (1. ) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 85.50 208.65 Td (Fair) Tj ET Q q 0 0 0 rg BT 106.37 208.65 Td ( ) Tj ET Q q 0 0 0 rg BT 109.03 208.65 Td (V) Tj ET Q q 0 0 0 rg BT 116.28 208.65 Td (alue Measur) Tj ET Q q 0 0 0 rg BT 177.08 208.65 Td (ements) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 211.57 208.65 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 194.85 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 181.05 Td (W) Tj ET Q q 0 0 0 rg BT 95.43 181.05 Td (e classify our assets and liabilities that are carried at fair value within the fair value hierarchy) Tj ET Q q 0 0 0 rg BT 522.58 181.05 Td (. ) Tj ET Q q 0 0 0 rg BT 530.99 181.05 Td (This ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 167.25 Td (hierarchy ranks the quality and reliability of the inputs used to determine fair values, which are then classified ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 153.45 Td (and disclosed in one of three categories. ) Tj ET Q q 0 0 0 rg BT 239.30 153.45 Td (The three levels of the fair value hierarchy are:) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 139.65 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 125.85 Td (Level 1 Unadjusted quoted prices in active markets for identical assets or liabilities at the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 112.05 Td (measurement date. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 84.45 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 84.45 Td (Level 2 Other significant observable inputs, including quoted prices in active markets for similar ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 70.65 Td (assets or liabilities; quoted prices in markets that are not active, and model-derived valuations whose inputs are ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 56.85 Td (observable \(such as yield curves\).) Tj ET Q endstream endobj 113 0 obj <> endobj 114 0 obj <> stream BT /F2 11.50 Tf ET q 0 0 0 rg BT 84.45 757.95 Td (COMBINED NOTES ) Tj ET Q q 0 0 0 rg BT 193.51 757.95 Td (T) Tj ET Q q 0 0 0 rg BT 200.97 757.95 Td (O CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 356.68 757.95 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 447.74 757.95 Td ( ST) Tj ET Q q 0 0 0 rg BT 463.82 757.95 Td (A) Tj ET Q q 0 0 0 rg BT 471.28 757.95 Td (TEMENTS) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 32.55 Td (54) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 712.05 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 698.25 Td (Level 3 ) Tj ET Q q 0 0 0 rg BT 140.22 698.25 Td (V) Tj ET Q q 0 0 0 rg BT 147.25 698.25 Td (aluation models with significant unobservable inputs that are supported by little or no ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 684.45 Td (market activity) Tj ET Q q 0 0 0 rg BT 118.05 684.45 Td (. Instruments in this category may include long-dated derivative transactions where valuations ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 670.65 Td (are unobservable due to the length of the transaction, options, and transactions in locations where observable ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 656.85 Td (market data does not exist. ) Tj ET Q q 0 0 0 rg BT 178.00 656.85 Td (The valuation models we employ utilize spot prices, forward prices, historical ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 643.05 Td (market data and other factors to forecast future prices.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 629.25 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 615.45 Td (Assets and liabilities are classified in their entirety based on the lowest level of input that is significant ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 601.65 Td (to the fair value measurement. ) Tj ET Q q 0 0 0 rg BT 194.58 601.65 Td (Thus, a valuation may be classified in Level 3 even though the valuation may ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 587.85 Td (include significant inputs that are readily observable. ) Tj ET Q q 0 0 0 rg BT 298.71 587.85 Td (W) Tj ET Q q 0 0 0 rg BT 308.64 587.85 Td (e maximize the use of observable inputs and minimize ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 574.05 Td (the use of unobservable inputs. ) Tj ET Q q 0 0 0 rg BT 197.81 574.05 Td (W) Tj ET Q q 0 0 0 rg BT 207.74 574.05 Td (e rely primarily on the market approach of using prices and other market ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 560.25 Td (information for identical and/or comparable assets and liabilities. If market data is not readily available, inputs ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 546.45 Td (may reflect our own assumptions about the inputs market participants would use. Our assessment of the inputs ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 532.65 Td (and the significance of a particular input to the fair value measurement requires judgment and may af) Tj ET Q q 0 0 0 rg BT 514.87 532.65 Td (fect the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 518.85 Td (valuation of fair value assets and liabilities as well as their placement within the fair value hierarchy levels. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 505.05 Td (W) Tj ET Q q 0 0 0 rg BT 59.43 505.05 Td (e assess whether a market is active by obtaining observable broker quotes, reviewing actual market activity) Tj ET Q q 0 0 0 rg BT 551.75 505.05 Td (, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 491.25 Td (and assessing the volume of transactions. ) Tj ET Q q 0 0 0 rg BT 244.76 491.25 Td (W) Tj ET Q q 0 0 0 rg BT 254.69 491.25 Td (e consider broker quotes observable inputs when the quote is ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 477.45 Td (binding on the broker) Tj ET Q q 0 0 0 rg BT 148.37 477.45 Td (, we can validate the quote with market activity) Tj ET Q q 0 0 0 rg BT 365.73 477.45 Td (, or we can determine that the inputs the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 463.65 Td (broker used to arrive at the quoted price are observable.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 436.05 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 436.05 Td (Certain instruments have been valued using the concept of Net ) Tj ET Q q 0 0 0 rg BT 376.12 436.05 Td (Asset ) Tj ET Q q 0 0 0 rg BT 404.34 436.05 Td (V) Tj ET Q q 0 0 0 rg BT 411.37 436.05 Td (alue \("NA) Tj ET Q q 0 0 0 rg BT 457.05 436.05 Td (V"\), as a practical ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 422.25 Td (expedient. ) Tj ET Q q 0 0 0 rg BT 99.75 422.25 Td (These instruments are typically structured as investment companies of) Tj ET Q q 0 0 0 rg BT 422.73 422.25 Td (fering shares or units to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 408.45 Td (multiple investors for the purpose of providing a return. ) Tj ET Q q 0 0 0 rg BT 308.63 408.45 Td (These instruments are similar to mutual funds; ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 394.65 Td (however) Tj ET Q q 0 0 0 rg BT 88.63 394.65 Td (, their NA) Tj ET Q q 0 0 0 rg BT 133.46 394.65 Td (V) Tj ET Q q 0 0 0 rg BT 141.56 394.65 Td ( is generally not published and publicly available, nor are these instruments traded on an ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 380.85 Td (exchange. Instruments valued using NA) Tj ET Q q 0 0 0 rg BT 235.17 380.85 Td (V) Tj ET Q q 0 0 0 rg BT 241.99 380.85 Td (, as a practical expedient are included in our fair value disclosures; ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 367.05 Td (however) Tj ET Q q 0 0 0 rg BT 88.63 367.05 Td (, in accordance with GAAP) Tj ET Q q 0 0 0 rg BT 214.99 367.05 Td ( are not classified within the fair value hierarchy levels.) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 339.45 Td (Recurring Fair) Tj ET Q q 0 0 0 rg BT 123.70 339.45 Td ( ) Tj ET Q q 0 0 0 rg BT 126.37 339.45 Td (V) Tj ET Q q 0 0 0 rg BT 133.62 339.45 Td (alue Measur) Tj ET Q q 0 0 0 rg BT 194.42 339.45 Td (ements) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 325.65 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 311.85 Td (W) Tj ET Q q 0 0 0 rg BT 95.43 311.85 Td (e apply recurring fair value measurements to cash equivalents, derivative instruments, and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 298.05 Td (investments held in the nuclear decommissioning trust and other special use funds. On an annual basis we ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 284.25 Td (apply fair value measurements to plan assets held in our retirement and other benefit plans. See Note 8 in the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 270.45 Td (2019 Form 10-K for fair value discussion of plan assets held in our retirement and other benefit plans.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 256.65 Td () Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 85.50 242.85 Td (Cash Equivalents) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 229.05 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 215.25 Td (Cash equivalents represent certain investments in money market funds that are valued using quoted ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 201.45 Td (prices in active markets.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 187.65 Td ( ) Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 85.50 173.85 Td (Risk Management ) Tj ET Q q 0 0 0 rg BT 174.53 173.85 Td (Activities Derivative Instruments) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 160.05 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 146.25 Td (Exchange traded commodity contracts are valued using unadjusted quoted prices. For non-exchange ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 132.45 Td (traded commodity contracts, we calculate fair value based on the average of the bid and of) Tj ET Q q 0 0 0 rg BT 465.04 132.45 Td (fer price, discounted ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 118.65 Td (to reflect net present value. ) Tj ET Q q 0 0 0 rg BT 179.89 118.65 Td (W) Tj ET Q q 0 0 0 rg BT 189.82 118.65 Td (e maintain certain valuation adjustments for a number of risks associated with ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 104.85 Td (the valuation of future commitments. ) Tj ET Q q 0 0 0 rg BT 225.91 104.85 Td (These include valuation adjustments for liquidity and credit risks. ) Tj ET Q q 0 0 0 rg BT 533.27 104.85 Td (The ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 91.05 Td (liquidity valuation adjustment represents the cost that would be incurred if all unmatched positions were closed ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 77.25 Td (out or hedged. ) Tj ET Q q 0 0 0 rg BT 121.15 77.25 Td (The credit valuation adjustment represents estimated credit losses on our net exposure to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 63.45 Td (counterparties, taking into account netting agreements, expected default experience for the credit rating of the ) Tj ET Q endstream endobj 115 0 obj <> endobj 116 0 obj <> stream BT /F2 11.50 Tf ET q 0 0 0 rg BT 84.45 757.95 Td (COMBINED NOTES ) Tj ET Q q 0 0 0 rg BT 193.51 757.95 Td (T) Tj ET Q q 0 0 0 rg BT 200.97 757.95 Td (O CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 356.68 757.95 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 447.74 757.95 Td ( ST) Tj ET Q q 0 0 0 rg BT 463.82 757.95 Td (A) Tj ET Q q 0 0 0 rg BT 471.28 757.95 Td (TEMENTS) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 32.55 Td (55) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 712.05 Td (counterparties and the overall diversification of the portfolio. ) Tj ET Q q 0 0 0 rg BT 336.06 712.05 Td (W) Tj ET Q q 0 0 0 rg BT 346.00 712.05 Td (e maintain credit policies that management ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 698.25 Td (believes minimize overall credit risk.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 684.45 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 670.65 Td (Certain non-exchange traded commodity contracts are valued based on unobservable inputs due to the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 656.85 Td (long-term nature of contracts, characteristics of the product, or the unique location of the transactions. Our ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 643.05 Td (long-dated ener) Tj ET Q q 0 0 0 rg BT 121.14 643.05 Td (gy transactions consist of observable valuations for the near) Tj ET Q q 0 0 0 rg BT 396.19 643.05 Td (-term portion and unobservable ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 629.25 Td (valuations for the long-term portions of the transaction. ) Tj ET Q q 0 0 0 rg BT 309.90 629.25 Td (W) Tj ET Q q 0 0 0 rg BT 319.83 629.25 Td (e rely primarily on broker quotes to value these ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 615.45 Td (instruments. ) Tj ET Q q 0 0 0 rg BT 111.58 615.45 Td (When our valuations utilize broker quotes, we perform various control procedures to ensure the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 601.65 Td (quote has been developed consistent with fair value accounting guidance. ) Tj ET Q q 0 0 0 rg BT 392.91 601.65 Td (These controls include assessing the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 587.85 Td (quote for reasonableness by comparison against other broker quotes, reviewing historical price relationships, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 574.05 Td (and assessing market activity) Tj ET Q q 0 0 0 rg BT 183.21 574.05 Td (. ) Tj ET Q q 0 0 0 rg BT 191.63 574.05 Td (When broker quotes are not available, the primary valuation technique used to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 560.25 Td (calculate the fair value is the extrapolation of forward pricing curves using observable market data for more ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 546.45 Td (liquid delivery points in the same region and actual transactions at more illiquid delivery points.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 532.65 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 518.85 Td (When the unobservable portion is significant to the overall valuation of the transaction, the entire ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 505.05 Td (transaction is classified as Level 3. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 491.25 Td () Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 477.45 Td (Investments Held in Nuclear) Tj ET Q q 0 0 0 rg BT 189.53 477.45 Td ( Decommissioning ) Tj ET Q q 0 0 0 rg BT 281.32 477.45 Td (T) Tj ET Q q 0 0 0 rg BT 288.14 477.45 Td (rust and Other) Tj ET Q q 0 0 0 rg BT 361.41 477.45 Td ( Special Use Funds) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 463.65 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 449.85 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 449.85 Td (The nuclear decommissioning trust and other special use funds invest in fixed income and equity ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 436.05 Td (securities. Other special use funds include the coal reclamation escrow account and the active union employee ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 422.25 Td (medical account. See Note 12 for additional discussion about our investment accounts.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 394.65 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 394.65 Td (W) Tj ET Q q 0 0 0 rg BT 95.43 394.65 Td (e value investments in fixed income and equity securities using information provided by our trustees ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 380.85 Td (and escrow agent. Our trustees and escrow agent use pricing services that utilize the valuation methodologies ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 367.05 Td (described below to determine fair market value. ) Tj ET Q q 0 0 0 rg BT 272.18 367.05 Td (W) Tj ET Q q 0 0 0 rg BT 282.11 367.05 Td (e have internal control procedures designed to ensure this ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 353.25 Td (information is consistent with fair value accounting guidance. ) Tj ET Q q 0 0 0 rg BT 336.40 353.25 Td (These procedures include assessing valuations ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 339.45 Td (using an independent pricing source, verifying that pricing can be supported by actual recent market ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 325.65 Td (transactions, assessing hierarchy classifications, comparing investment returns with benchmarks, and obtaining ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 311.85 Td (and reviewing independent audit reports on the trustees) Tj ET Q q 0 0 0 rg BT 307.00 311.85 Td ( and escrow agent's internal operating controls and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 298.05 Td (valuation processes.) Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 85.50 270.45 Td (Fixed Income Securities) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 242.85 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 242.85 Td (Fixed income securities issued by the U.S. ) Tj ET Q q 0 0 0 rg BT 283.65 242.85 Td (T) Tj ET Q q 0 0 0 rg BT 290.27 242.85 Td (reasury are valued using quoted active market prices and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 229.05 Td (are typically classified as Level 1. Fixed income securities issued by corporations, municipalities, and other ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 215.25 Td (agencies, including mortgage-backed instruments, are valued using quoted inactive market prices, quoted ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 201.45 Td (active market prices for similar securities, or by utilizing calculations which incorporate observable inputs such ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 187.65 Td (as yield curves and spreads relative to such yield curves. ) Tj ET Q q 0 0 0 rg BT 314.99 187.65 Td (These fixed income instruments are classified as ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 173.85 Td (Level 2. ) Tj ET Q q 0 0 0 rg BT 92.72 173.85 Td (Whenever possible, multiple market quotes are obtained which enables a cross-check validation. ) Tj ET Q q 0 0 0 rg BT 542.04 173.85 Td (A) Tj ET Q q 0 0 0 rg BT 549.71 173.85 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 160.05 Td (primary price source is identified based on asset type, class, or issue of securities.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 132.45 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 132.45 Td (Fixed income securities may also include short-term investments in certificates of deposit, variable rate ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 118.65 Td (notes, time deposit accounts, U.S. ) Tj ET Q q 0 0 0 rg BT 208.04 118.65 Td (T) Tj ET Q q 0 0 0 rg BT 214.66 118.65 Td (reasury and ) Tj ET Q q 0 0 0 rg BT 270.22 118.65 Td (Agency obligations, U.S. ) Tj ET Q q 0 0 0 rg BT 388.84 118.65 Td (T) Tj ET Q q 0 0 0 rg BT 395.46 118.65 Td (reasury repurchase agreements, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 104.85 Td (commercial paper) Tj ET Q q 0 0 0 rg BT 131.73 104.85 Td (, and other short-term instruments. ) Tj ET Q q 0 0 0 rg BT 293.45 104.85 Td (These instruments are valued using active market prices ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 91.05 Td (or utilizing observable inputs described above. ) Tj ET Q endstream endobj 117 0 obj <> endobj 118 0 obj <> stream BT /F2 11.50 Tf ET q 0 0 0 rg BT 84.45 757.95 Td (COMBINED NOTES ) Tj ET Q q 0 0 0 rg BT 193.51 757.95 Td (T) Tj ET Q q 0 0 0 rg BT 200.97 757.95 Td (O CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 356.68 757.95 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 447.74 757.95 Td ( ST) Tj ET Q q 0 0 0 rg BT 463.82 757.95 Td (A) Tj ET Q q 0 0 0 rg BT 471.28 757.95 Td (TEMENTS) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 32.55 Td (56) Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 85.50 712.25 Td (Equity Securities) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 684.65 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 684.65 Td (The nuclear decommissioning trust's equity security investments are held indirectly through ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 670.85 Td (commingled funds. ) Tj ET Q q 0 0 0 rg BT 143.84 670.85 Td (The commingled funds are valued using the funds' NA) Tj ET Q q 0 0 0 rg BT 394.18 670.85 Td (V) Tj ET Q q 0 0 0 rg BT 402.28 670.85 Td ( as a practical expedient. ) Tj ET Q q 0 0 0 rg BT 521.17 670.85 Td (The ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 657.05 Td (funds' NA) Tj ET Q q 0 0 0 rg BT 95.13 657.05 Td (V) Tj ET Q q 0 0 0 rg BT 103.23 657.05 Td ( is primarily derived from the quoted active market prices of the underlying equity securities held ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 643.25 Td (by the funds. ) Tj ET Q q 0 0 0 rg BT 114.77 643.25 Td (W) Tj ET Q q 0 0 0 rg BT 124.71 643.25 Td (e may transact in these commingled funds on a semi-monthly basis at the NA) Tj ET Q q 0 0 0 rg BT 479.33 643.25 Td (V) Tj ET Q q 0 0 0 rg BT 486.16 643.25 Td (. ) Tj ET Q q 0 0 0 rg BT 494.57 643.25 Td (The ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 629.45 Td (commingled funds are maintained by a bank and hold investments in accordance with the stated objective of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 615.65 Td (tracking the performance of the S&P) Tj ET Q q 0 0 0 rg BT 218.65 615.65 Td ( 500 Index. Because the commingled funds' shares are of) Tj ET Q q 0 0 0 rg BT 483.34 615.65 Td (fered to a limited ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 601.85 Td (group of investors, they are not considered to be traded in an active market. ) Tj ET Q q 0 0 0 rg BT 401.74 601.85 Td (As these instruments are valued ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 588.05 Td (using NA) Tj ET Q q 0 0 0 rg BT 92.42 588.05 Td (V) Tj ET Q q 0 0 0 rg BT 99.25 588.05 Td (, as a practical expedient, they have not been classified within the fair value hierarchy) Tj ET Q q 0 0 0 rg BT 492.54 588.05 Td (.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 560.45 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 560.45 Td (The nuclear decommissioning trust and other special use funds may also hold equity securities that ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 546.65 Td (include exchange traded mutual funds and money market accounts for short-term liquidity purposes. ) Tj ET Q q 0 0 0 rg BT 517.16 546.65 Td (These ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 532.85 Td (short-term, highly-liquid, investments are valued using active market prices. ) Tj ET Q endstream endobj 119 0 obj <> endobj 120 0 obj <> stream BT /F2 11.50 Tf ET q 0 0 0 rg BT 84.45 757.95 Td (COMBINED NOTES ) Tj ET Q q 0 0 0 rg BT 193.51 757.95 Td (T) Tj ET Q q 0 0 0 rg BT 200.97 757.95 Td (O CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 356.68 757.95 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 447.74 757.95 Td ( ST) Tj ET Q q 0 0 0 rg BT 463.82 757.95 Td (A) Tj ET Q q 0 0 0 rg BT 471.28 757.95 Td (TEMENTS) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 32.55 Td (57) Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 85.50 712.25 Td (Fair V) Tj ET Q q 0 0 0 rg BT 115.86 712.25 Td (alue T) Tj ET Q q 0 0 0 rg BT 145.15 712.25 Td (ables) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 698.45 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 684.65 Td (The following table presents the fair value at ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 294.35 684.65 Td (March31, 2020) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 367.49 684.65 Td ( of our assets and liabilities that are ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 670.85 Td (measured at fair value on a recurring basis \(dollars in thousands\):) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 657.05 Td () Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 631.55 174.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 224.00 631.55 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 288.00 631.55 6.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 294.00 631.55 51.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 345.00 631.55 6.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 351.00 631.55 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 416.00 631.55 6.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 422.00 631.55 51.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.00 631.55 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.00 631.55 18.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.00 631.55 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.00 631.55 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 601.55 174.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 224.00 601.55 64.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 288.00 601.55 6.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 294.00 601.55 51.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 345.00 601.55 6.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 351.00 601.55 65.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 416.00 601.55 6.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 422.00 601.55 51.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.00 601.55 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.00 601.55 18.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.00 601.55 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.00 601.55 64.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 561.55 174.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 224.00 561.55 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 288.00 561.55 6.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 294.00 561.55 51.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 345.00 561.55 6.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 351.00 561.55 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 416.00 561.55 6.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 422.00 561.55 51.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.00 561.55 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.00 561.55 18.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.00 561.55 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.00 561.55 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 531.55 174.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 224.00 531.55 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 288.00 531.55 6.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 294.00 531.55 51.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 345.00 531.55 6.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 351.00 531.55 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 416.00 531.55 6.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 422.00 531.55 51.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.00 531.55 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.00 531.55 18.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.00 531.55 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.00 531.55 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 501.55 174.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 224.00 501.55 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 288.00 501.55 6.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 294.00 501.55 51.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 345.00 501.55 6.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 351.00 501.55 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 416.00 501.55 6.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 422.00 501.55 51.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.00 501.55 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.00 501.55 18.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.00 501.55 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.00 501.55 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 471.55 174.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 224.00 471.55 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 288.00 471.55 6.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 294.00 471.55 51.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 345.00 471.55 6.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 351.00 471.55 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 416.00 471.55 6.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 422.00 471.55 51.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.00 471.55 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.00 471.55 18.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.00 471.55 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.00 471.55 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 441.55 174.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 224.00 441.55 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 288.00 441.55 6.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 294.00 441.55 51.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 345.00 441.55 6.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 351.00 441.55 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 416.00 441.55 6.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 422.00 441.55 51.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.00 441.55 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.00 441.55 18.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.00 441.55 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.00 441.55 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 411.55 174.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 224.00 411.55 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 288.00 411.55 6.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 294.00 411.55 51.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 345.00 411.55 6.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 351.00 411.55 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 416.00 411.55 6.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 422.00 411.55 51.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.00 411.55 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.00 411.55 18.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.00 411.55 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.00 411.55 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 381.55 174.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 224.00 381.55 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 288.00 381.55 6.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 294.00 381.55 51.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 345.00 381.55 6.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 351.00 381.55 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 416.00 381.55 6.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 422.00 381.55 51.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.00 381.55 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.00 381.55 18.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.00 381.55 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.00 381.55 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 351.55 174.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 224.00 351.55 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 288.00 351.55 6.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 294.00 351.55 51.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 345.00 351.55 6.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 351.00 351.55 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 416.00 351.55 6.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 422.00 351.55 51.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.00 351.55 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.00 351.55 18.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.00 351.55 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.00 351.55 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 321.55 174.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 224.00 321.55 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 288.00 321.55 6.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 294.00 321.55 51.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 345.00 321.55 6.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 351.00 321.55 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 416.00 321.55 6.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 422.00 321.55 51.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.00 321.55 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.00 321.55 18.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.00 321.55 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.00 321.55 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 291.55 174.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 224.00 291.55 64.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 288.00 291.55 6.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 294.00 291.55 51.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 345.00 291.55 6.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 351.00 291.55 65.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 416.00 291.55 6.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 422.00 291.55 51.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.00 291.55 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.00 291.55 18.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.00 291.55 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.00 291.55 64.00 -25.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 224 631.55 m 288 631.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 294 631.55 m 345 631.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 351 631.55 m 416 631.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 422 631.55 m 473 631.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499 631.55 m 563 631.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 224 441.54999999999995 m 288 441.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 294 441.54999999999995 m 345 441.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 351 441.54999999999995 m 416 441.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 422 441.54999999999995 m 473 441.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499 441.54999999999995 m 563 441.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 224 441.54999999999995 m 288 441.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 224 426.54999999999995 m 288 426.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 294 441.54999999999995 m 345 441.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 294 426.54999999999995 m 345 426.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 351 441.54999999999995 m 416 441.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 351 426.54999999999995 m 416 426.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 422 441.54999999999995 m 473 441.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 422 426.54999999999995 m 473 426.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499 441.54999999999995 m 563 441.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499 426.54999999999995 m 563 426.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 224 351.54999999999995 m 288 351.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 294 351.54999999999995 m 345 351.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 351 351.54999999999995 m 416 351.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 422 351.54999999999995 m 473 351.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499 351.54999999999995 m 563 351.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 224 336.54999999999995 m 288 336.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 294 336.54999999999995 m 345 336.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 351 336.54999999999995 m 416 336.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 422 336.54999999999995 m 473 336.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499 336.54999999999995 m 563 336.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 224 307.54999999999995 m 288 307.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 224 305.54999999999995 m 288 305.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 294 307.54999999999995 m 345 307.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 294 305.54999999999995 m 345 305.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 351 307.54999999999995 m 416 307.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 351 305.54999999999995 m 416 305.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 422 307.54999999999995 m 473 307.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 422 305.54999999999995 m 473 305.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499 307.54999999999995 m 563 307.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499 305.54999999999995 m 563 305.54999999999995 l s BT /F2 9.00 Tf ET q 0 0 0 rg BT 52.50 637.00 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 241.60 636.00 Td (Level1) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 305.10 636.00 Td (Level2) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 369.10 636.00 Td (Level3) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 435.55 636.00 Td (Other) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 485.50 636.45 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 520.65 636.00 Td (T) Tj ET Q q 0 0 0 rg BT 525.83 636.00 Td (otal) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 621.22 Td (Assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 284.50 621.22 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 341.50 621.22 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.50 621.22 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.50 621.22 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.50 621.22 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.50 621.22 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 606.22 Td (Cash equivalents) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 226.50 606.22 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 256.65 606.22 Td (26,130) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.50 606.22 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 331.15 606.22 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 353.50 606.22 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.15 606.22 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.50 606.22 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.15 606.22 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 501.50 606.22 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 606.22 Td (26,130) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 591.22 Td (Risk management activities derivative) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 581.22 Td (instruments:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 566.22 Td (Commodity contracts) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 274.15 566.22 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.65 566.22 Td (2,325) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.15 566.22 Td (502) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.80 566.27 Td (\(719) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.15 566.22 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.50 566.22 Td (\(a\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.65 566.22 Td (2,108) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 551.22 Td (Nuclear decommissioning trust:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 536.22 Td (Equity securities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 256.65 536.22 Td (1) Tj ET Q q 0 0 0 rg BT 261.65 536.22 Td (1,452) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 331.15 536.22 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.15 536.22 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 446.65 536.22 Td (2,090) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.50 536.22 Td (\(b\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 536.22 Td (13,542) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 521.22 Td (U.S. commingled equity funds) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 274.15 521.22 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 331.15 521.22 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.15 521.22 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 436.60 521.22 Td (416,463) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.50 521.22 Td (\(c\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 521.22 Td (416,463) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 506.22 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 78.69 506.22 Td (T) Tj ET Q q 0 0 0 rg BT 84.54 506.22 Td (reasury debt) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 251.65 506.22 Td (152,951) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 331.15 506.22 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.15 506.22 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.15 506.22 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.50 506.22 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 506.22 Td (152,951) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 491.22 Td (Corporate debt) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 274.15 491.22 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.60 491.22 Td (1) Tj ET Q q 0 0 0 rg BT 313.60 491.22 Td (12,667) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.15 491.22 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.15 491.22 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.50 491.22 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 491.22 Td (1) Tj ET Q q 0 0 0 rg BT 531.65 491.22 Td (12,667) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 476.22 Td (Mortgage-backed securities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 274.15 476.22 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.60 476.22 Td (1) Tj ET Q q 0 0 0 rg BT 313.60 476.22 Td (15,790) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.15 476.22 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.15 476.22 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.50 476.22 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 476.22 Td (1) Tj ET Q q 0 0 0 rg BT 531.65 476.22 Td (15,790) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 461.22 Td (Municipal bonds) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 274.15 461.22 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 313.65 461.22 Td (98,605) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.15 461.22 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.15 461.22 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.50 461.22 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 461.22 Td (98,605) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 446.22 Td (Other fixed income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 274.15 446.22 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 313.65 446.22 Td (10,408) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.15 446.22 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.15 446.22 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.50 446.22 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 446.22 Td (10,408) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 431.22 Td (Subtotal nuclear decommissioning trust) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 251.65 431.22 Td (164,403) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.60 431.22 Td (337,470) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.15 431.22 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 436.60 431.22 Td (418,553) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 431.22 Td (920,426) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 401.22 Td (Other special use funds:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 386.22 Td (Equity securities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 261.65 386.22 Td (6,752) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 331.15 386.22 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.15 386.22 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 446.65 386.22 Td (1,331) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.50 386.22 Td (\(b\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.65 386.22 Td (8,083) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 371.22 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 78.69 371.22 Td (T) Tj ET Q q 0 0 0 rg BT 84.54 371.22 Td (reasury debt) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 251.65 371.22 Td (238,637) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 331.15 371.22 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.15 371.22 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.15 371.22 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 371.22 Td (238,637) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 356.22 Td (Municipal bonds) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 274.15 356.22 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.65 356.22 Td (6,003) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.15 356.22 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.15 356.22 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.65 356.22 Td (6,003) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 341.22 Td (Subtotal other special use funds) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 251.65 341.22 Td (245,389) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.65 341.22 Td (6,003) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.15 341.22 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 446.65 341.22 Td (1,331) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 341.22 Td (252,723) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 311.22 Td (T) Tj ET Q q 0 0 0 rg BT 58.26 311.22 Td (otal assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 226.50 311.22 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 251.65 311.22 Td (435,922) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.50 311.22 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.60 311.22 Td (345,798) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 353.50 311.22 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.15 311.22 Td (502) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.50 311.22 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 436.60 311.22 Td (419,165) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 501.50 311.22 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.15 311.22 Td (1,201,387) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 296.22 Td (Liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 284.50 296.22 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 341.50 296.22 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.50 296.22 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.50 296.22 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.50 296.22 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.50 296.22 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 281.22 Td (Risk management activities derivative) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 271.22 Td (instruments:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 284.50 271.22 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 341.50 271.22 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.50 271.22 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.50 271.22 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.50 271.22 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.50 271.22 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 256.22 Td (Commodity contracts) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 226.50 256.22 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 274.15 256.22 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.50 256.22 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 310.30 256.27 Td (\(79,583) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 341.15 256.22 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 353.50 256.22 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 386.30 256.27 Td (\(8,124) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.15 256.22 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.50 256.22 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.15 256.22 Td (346) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.50 256.22 Td (\(a\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 501.50 256.22 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 528.30 256.27 Td (\(87,361) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 256.22 Td (\)) Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 67.50 224.45 Td (\(a\) ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 224.45 Td (Represents counterparty netting, mar) Tj ET Q q 0 0 0 rg BT 255.19 224.45 Td (gin, and collateral. See Note 7.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 67.50 210.65 Td (\(b\) ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 210.65 Td (Represents net pending securities sales and purchases.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 67.50 196.85 Td (\(c\) ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 196.85 Td (V) Tj ET Q q 0 0 0 rg BT 92.53 196.85 Td (alued using NA) Tj ET Q q 0 0 0 rg BT 163.23 196.85 Td (V) Tj ET Q q 0 0 0 rg BT 171.33 196.85 Td ( as a practical expedient and, therefore, are not classified in the fair value hierarchy) Tj ET Q q 0 0 0 rg BT 553.10 196.85 Td (.) Tj ET Q endstream endobj 121 0 obj <> endobj 122 0 obj <> stream BT /F2 11.50 Tf ET q 0 0 0 rg BT 84.45 757.95 Td (COMBINED NOTES ) Tj ET Q q 0 0 0 rg BT 193.51 757.95 Td (T) Tj ET Q q 0 0 0 rg BT 200.97 757.95 Td (O CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 356.68 757.95 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 447.74 757.95 Td ( ST) Tj ET Q q 0 0 0 rg BT 463.82 757.95 Td (A) Tj ET Q q 0 0 0 rg BT 471.28 757.95 Td (TEMENTS) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 32.55 Td (58) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 712.05 Td (The following table presents the fair value at ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 294.35 712.05 Td (December31, 2019) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 384.72 712.05 Td ( of our assets and liabilities that are ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 698.25 Td (measured at fair value on a recurring basis \(dollars in thousands\):) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 684.45 Td () Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 658.95 170.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 220.00 658.95 61.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 281.00 658.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 285.00 658.95 61.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 346.00 658.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 350.00 658.95 61.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 411.00 658.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 415.00 658.95 61.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 476.00 658.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 480.00 658.95 18.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 658.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 658.95 61.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 618.95 170.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 220.00 618.95 61.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 281.00 618.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 285.00 618.95 61.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 346.00 618.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 350.00 618.95 61.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 411.00 618.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 415.00 618.95 61.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 476.00 618.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 480.00 618.95 18.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 618.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 618.95 61.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 588.95 170.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 220.00 588.95 61.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 281.00 588.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 285.00 588.95 61.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 346.00 588.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 350.00 588.95 61.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 411.00 588.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 415.00 588.95 61.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 476.00 588.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 480.00 588.95 18.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 588.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 588.95 61.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 558.95 170.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 220.00 558.95 61.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 281.00 558.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 285.00 558.95 61.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 346.00 558.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 350.00 558.95 61.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 411.00 558.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 415.00 558.95 61.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 476.00 558.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 480.00 558.95 18.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 558.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 558.95 61.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 528.95 170.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 220.00 528.95 61.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 281.00 528.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 285.00 528.95 61.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 346.00 528.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 350.00 528.95 61.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 411.00 528.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 415.00 528.95 61.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 476.00 528.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 480.00 528.95 18.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 528.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 528.95 61.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 498.95 170.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 220.00 498.95 61.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 281.00 498.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 285.00 498.95 61.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 346.00 498.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 350.00 498.95 61.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 411.00 498.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 415.00 498.95 61.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 476.00 498.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 480.00 498.95 18.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 498.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 498.95 61.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 468.95 170.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 220.00 468.95 61.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 281.00 468.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 285.00 468.95 61.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 346.00 468.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 350.00 468.95 61.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 411.00 468.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 415.00 468.95 61.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 476.00 468.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 480.00 468.95 18.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 468.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 468.95 61.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 438.95 170.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 220.00 438.95 61.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 281.00 438.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 285.00 438.95 61.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 346.00 438.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 350.00 438.95 61.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 411.00 438.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 415.00 438.95 61.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 476.00 438.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 480.00 438.95 18.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 438.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 438.95 61.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 408.95 170.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 220.00 408.95 61.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 281.00 408.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 285.00 408.95 61.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 346.00 408.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 350.00 408.95 61.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 411.00 408.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 415.00 408.95 61.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 476.00 408.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 480.00 408.95 18.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 408.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 408.95 61.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 378.95 170.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 220.00 378.95 61.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 281.00 378.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 285.00 378.95 61.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 346.00 378.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 350.00 378.95 61.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 411.00 378.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 415.00 378.95 61.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 476.00 378.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 480.00 378.95 18.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 378.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 378.95 61.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 348.95 170.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 220.00 348.95 61.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 281.00 348.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 285.00 348.95 61.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 346.00 348.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 350.00 348.95 61.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 411.00 348.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 415.00 348.95 61.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 476.00 348.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 480.00 348.95 18.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 348.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 348.95 61.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 308.95 170.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 220.00 308.95 61.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 281.00 308.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 285.00 308.95 61.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 346.00 308.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 350.00 308.95 61.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 411.00 308.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 415.00 308.95 61.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 476.00 308.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 480.00 308.95 18.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 308.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 308.95 61.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 220 658.95 m 281 658.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 285 658.95 m 346 658.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 350 658.95 m 411 658.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 415 658.95 m 476 658.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 658.95 m 563 658.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 220 483.95 m 281 483.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 220 468.95 m 281 468.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 285 483.95 m 346 483.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 285 468.95 m 346 468.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 350 483.95 m 411 483.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 350 468.95 m 411 468.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 415 483.95 m 476 483.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 415 468.95 m 476 468.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 483.95 m 563 483.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 468.95 m 563 468.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 220 393.95 m 281 393.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 220 378.95 m 281 378.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 285 393.95 m 346 393.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 285 378.95 m 346 378.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 350 393.95 m 411 393.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 350 378.95 m 411 378.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 415 393.95 m 476 393.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 415 378.95 m 476 378.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 393.95 m 563 393.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 378.95 m 563 378.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 220 349.95 m 281 349.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 220 347.95 m 281 347.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 285 349.95 m 346 349.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 285 347.95 m 346 347.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 350 349.95 m 411 349.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 350 347.95 m 411 347.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 415 349.95 m 476 349.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 415 347.95 m 476 347.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 349.95 m 563 349.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 347.95 m 563 347.95 l s BT /F2 9.00 Tf ET q 0 0 0 rg BT 52.50 664.40 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 236.10 663.40 Td (Level1) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 301.10 663.40 Td (Level2) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 366.10 663.40 Td (Level3) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 433.55 663.40 Td (Other) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 488.50 663.85 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 522.15 663.40 Td (T) Tj ET Q q 0 0 0 rg BT 527.33 663.40 Td (otal) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 648.62 Td (Assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 277.50 648.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 342.50 648.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.50 648.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.50 648.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.50 648.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.50 648.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 633.62 Td (Risk management activities ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 623.62 Td (derivative instruments:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 608.62 Td (Commodity contracts) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 222.50 608.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 266.50 608.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.50 608.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 326.50 608.62 Td (551) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 352.50 608.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 396.50 608.62 Td (33) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 417.50 608.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.15 608.62 Td (\(69) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.50 608.62 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.50 608.62 Td (\(a\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 504.50 608.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.50 608.62 Td (515) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 593.62 Td (Nuclear decommissioning trust:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 277.50 593.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 342.50 593.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.50 593.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.50 593.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.50 593.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.50 593.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 578.62 Td (Equity securities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 249.00 578.62 Td (10,872) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 331.50 578.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 396.50 578.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.00 578.62 Td (2,401) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.50 578.62 Td (\(b\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.00 578.62 Td (13,273) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 563.62 Td (U.S. commingled equity funds) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 266.50 563.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 331.50 563.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 396.50 563.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 439.00 563.62 Td (518,844) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.50 563.62 Td (\(c\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.00 563.62 Td (518,844) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 548.62 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 78.69 548.62 Td (T) Tj ET Q q 0 0 0 rg BT 84.54 548.62 Td (reasury debt) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 244.00 548.62 Td (160,607) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 331.50 548.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 396.50 548.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.50 548.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.00 548.62 Td (160,607) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 533.62 Td (Corporate debt) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 266.50 533.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 309.00 533.62 Td (1) Tj ET Q q 0 0 0 rg BT 314.00 533.62 Td (15,869) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 396.50 533.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.50 533.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.50 533.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.00 533.62 Td (1) Tj ET Q q 0 0 0 rg BT 531.00 533.62 Td (15,869) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 518.62 Td (Mortgage-backed securities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 266.50 518.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 309.00 518.62 Td (1) Tj ET Q q 0 0 0 rg BT 314.00 518.62 Td (18,795) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 396.50 518.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.50 518.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.50 518.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.00 518.62 Td (1) Tj ET Q q 0 0 0 rg BT 531.00 518.62 Td (18,795) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 503.62 Td (Municipal bonds) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 266.50 503.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 314.00 503.62 Td (73,040) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 396.50 503.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.50 503.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.50 503.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.00 503.62 Td (73,040) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 488.62 Td (Other fixed income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 266.50 488.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 314.00 488.62 Td (10,347) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 396.50 488.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.50 488.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.50 488.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.00 488.62 Td (10,347) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 473.62 Td (Subtotal nuclear decommissioning trust) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 244.00 473.62 Td (171,479) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 309.00 473.62 Td (318,051) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 396.50 473.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 439.00 473.62 Td (521,245) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.50 473.62 Td (1,010,775) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 443.62 Td (Other special use funds:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 428.62 Td (Equity securities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 254.00 428.62 Td (7,142) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 331.50 428.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 396.50 428.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.50 428.62 Td (474) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.50 428.62 Td (\(b\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.00 428.62 Td (7,616) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 413.62 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 78.69 413.62 Td (T) Tj ET Q q 0 0 0 rg BT 84.54 413.62 Td (reasury debt) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 244.00 413.62 Td (232,848) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 331.50 413.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 396.50 413.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.50 413.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.00 413.62 Td (232,848) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 398.62 Td (Municipal bonds) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 266.50 398.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 319.00 398.62 Td (4,631) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 396.50 398.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.50 398.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.00 398.62 Td (4,631) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 383.62 Td (Subtotal other special use funds) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 244.00 383.62 Td (239,990) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 319.00 383.62 Td (4,631) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 396.50 383.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.50 383.62 Td (474) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.00 383.62 Td (245,095) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 353.62 Td (T) Tj ET Q q 0 0 0 rg BT 58.26 353.62 Td (otal assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 222.50 353.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 244.00 353.62 Td (41) Tj ET Q q 0 0 0 rg BT 254.00 353.62 Td (1,469) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.50 353.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 309.00 353.62 Td (323,233) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 352.50 353.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 396.50 353.62 Td (33) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 417.50 353.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 439.00 353.62 Td (521,650) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 504.50 353.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.50 353.62 Td (1,256,385) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 338.62 Td (Liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 277.50 338.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 342.50 338.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.50 338.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.50 338.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.50 338.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.50 338.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 323.62 Td (Risk management activities ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 313.62 Td (derivative instruments:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 277.50 313.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 342.50 313.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.50 313.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.50 313.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.50 313.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.50 313.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 298.62 Td (Commodity contracts) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 222.50 298.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 266.50 298.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.50 298.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 310.65 298.62 Td (\(67,992) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 341.50 298.62 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 352.50 298.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 380.65 298.62 Td (\(3,429) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 406.50 298.62 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 417.50 298.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.15 298.62 Td (\(71) Tj ET Q q 0 0 0 rg BT 466.48 298.62 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.50 298.62 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.50 298.62 Td (\(a\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 504.50 298.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.65 298.62 Td (\(72,132) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.50 298.62 Td (\)) Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 67.50 266.85 Td (\(a\) ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 266.85 Td (Represents counterparty netting, mar) Tj ET Q q 0 0 0 rg BT 255.19 266.85 Td (gin, and collateral. See Note 7.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 67.50 253.05 Td (\(b\) ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 253.05 Td (Represents net pending securities sales and purchases.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 67.50 239.25 Td (\(c\) ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 239.25 Td (V) Tj ET Q q 0 0 0 rg BT 92.53 239.25 Td (alued using NA) Tj ET Q q 0 0 0 rg BT 163.23 239.25 Td (V) Tj ET Q q 0 0 0 rg BT 171.33 239.25 Td ( as a practical expedient and, therefore, are not classified in the fair value hierarchy) Tj ET Q q 0 0 0 rg BT 553.10 239.25 Td (.) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 211.65 Td (Fair) Tj ET Q q 0 0 0 rg BT 70.37 211.65 Td ( ) Tj ET Q q 0 0 0 rg BT 73.03 211.65 Td (V) Tj ET Q q 0 0 0 rg BT 80.28 211.65 Td (alue Measur) Tj ET Q q 0 0 0 rg BT 141.08 211.65 Td (ements Classified as Level 3) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 197.85 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 184.05 Td (The significant unobservable inputs used in the fair value measurement of our ener) Tj ET Q q 0 0 0 rg BT 466.59 184.05 Td (gy derivative ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 170.25 Td (contracts include broker quotes that cannot be validated as an observable input primarily due to the long-term ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 156.45 Td (nature of the quote or other characteristics of the product. Significant changes in these inputs in isolation ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 142.65 Td (would result in significantly higher or lower fair value measurements. Changes in our derivative contract fair ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 128.85 Td (values, including changes relating to unobservable inputs, typically will not impact net income due to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 115.05 Td (regulatory accounting treatment \(see Note 4\).) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 101.25 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 87.45 Td (Because our forward commodity contracts classified as Level 3 are currently in a net purchase position, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 73.65 Td (we would expect price increases of the underlying commodity to result in increases in the net fair value of the ) Tj ET Q endstream endobj 123 0 obj <> endobj 124 0 obj <> stream BT /F2 11.50 Tf ET q 0 0 0 rg BT 84.45 757.95 Td (COMBINED NOTES ) Tj ET Q q 0 0 0 rg BT 193.51 757.95 Td (T) Tj ET Q q 0 0 0 rg BT 200.97 757.95 Td (O CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 356.68 757.95 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 447.74 757.95 Td ( ST) Tj ET Q q 0 0 0 rg BT 463.82 757.95 Td (A) Tj ET Q q 0 0 0 rg BT 471.28 757.95 Td (TEMENTS) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 32.55 Td (59) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 712.05 Td (related contracts. Conversely) Tj ET Q q 0 0 0 rg BT 185.43 712.05 Td (, if the price of the underlying commodity decreases, the net fair value of the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 698.25 Td (related contracts would likely decrease.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 306.00 684.45 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 670.65 Td (Other unobservable valuation inputs include credit and liquidity reserves which do not have a material ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 656.85 Td (impact on our valuations; however) Tj ET Q q 0 0 0 rg BT 208.72 656.85 Td (, significant changes in these inputs could also result in higher or lower fair ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 643.05 Td (value measurements.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 629.25 Td () Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 615.45 Td (Financial Instruments Not Carried at Fair) Tj ET Q q 0 0 0 rg BT 257.24 615.45 Td ( ) Tj ET Q q 0 0 0 rg BT 259.90 615.45 Td (V) Tj ET Q q 0 0 0 rg BT 267.15 615.45 Td (alue) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 601.65 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 587.85 Td (The carrying value of our short-term borrowings approximate fair value and are classified within Level ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 574.05 Td (2 of the fair value hierarchy) Tj ET Q q 0 0 0 rg BT 176.79 574.05 Td (.See Note 3 for our long-term debt fair values. ) Tj ET Q q 0 0 0 rg BT 397.89 574.05 Td (The NTEC note receivable related ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 560.25 Td (to the sale of 4CA) Tj ET Q q 0 0 0 rg BT 131.91 560.25 Td () Tj ET Q q 0 0 0 rg BT 135.10 560.25 Td (s interest in Four Corners bears interest at ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 329.92 560.25 Td (3.9%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 353.88 560.25 Td ( per annum and has a book value of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 523.13 560.25 Td ($40 ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 546.45 Td (million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 82.73 546.45 Td ( as of March 31, 2020 and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 206.00 546.45 Td ($44 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 259.36 546.45 Td ( as of December 31, 2019, as presented on the Condensed ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 532.65 Td (Consolidated Balance Sheets. ) Tj ET Q q 0 0 0 rg BT 191.42 532.65 Td (The carrying amount is not materially dif) Tj ET Q q 0 0 0 rg BT 380.91 532.65 Td (ferent from the fair value of the note ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 518.85 Td (receivable and is classified within Level 3 of the fair value hierarchy) Tj ET Q q 0 0 0 rg BT 364.56 518.85 Td (. See Note 8 for more information on 4CA) Tj ET Q q 0 0 0 rg BT 561.94 518.85 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 505.05 Td (matters.) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 477.45 Td (12. ) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 85.50 477.45 Td (Investments in Nuclear) Tj ET Q q 0 0 0 rg BT 199.01 477.45 Td ( Decommissioning ) Tj ET Q q 0 0 0 rg BT 290.80 477.45 Td (T) Tj ET Q q 0 0 0 rg BT 297.62 477.45 Td (rust and Other) Tj ET Q q 0 0 0 rg BT 370.89 477.45 Td ( Special Use Funds) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 463.23 477.45 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 463.65 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 449.85 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 449.85 Td (W) Tj ET Q q 0 0 0 rg BT 95.43 449.85 Td (e have investments in debt and equity securities held in Nuclear Decommissioning ) Tj ET Q q 0 0 0 rg BT 477.84 449.85 Td (T) Tj ET Q q 0 0 0 rg BT 484.46 449.85 Td (rusts, Coal Mine ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 436.05 Td (Reclamation Escrow ) Tj ET Q q 0 0 0 rg BT 147.23 436.05 Td (Account, and an ) Tj ET Q q 0 0 0 rg BT 224.51 436.05 Td (Active Union Employee Medical ) Tj ET Q q 0 0 0 rg BT 379.08 436.05 Td (Account. Investments in debt securities ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 422.25 Td (are classified as available-for) Tj ET Q q 0 0 0 rg BT 183.69 422.25 Td (-sale securities. ) Tj ET Q q 0 0 0 rg BT 260.12 422.25 Td (W) Tj ET Q q 0 0 0 rg BT 270.05 422.25 Td (e record both debt and equity security investments at their fair ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 408.45 Td (value on our Condensed Consolidated Balance Sheets. See Note 1) Tj ET Q q 0 0 0 rg BT 353.12 408.45 Td (1 for a discussion of how fair value is ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 394.65 Td (determined and the classification of the investments within the fair value hierarchy) Tj ET Q q 0 0 0 rg BT 429.73 394.65 Td (. ) Tj ET Q q 0 0 0 rg BT 438.15 394.65 Td (The investments in each ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 380.85 Td (trust or account are restricted for use and are intended to fund specified costs and activities as further described ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 367.05 Td (for each fund below) Tj ET Q q 0 0 0 rg BT 141.04 367.05 Td (.) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 339.45 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 339.45 Td (Nuclear) Tj ET Q q 0 0 0 rg BT 124.25 339.45 Td ( Decommissioning ) Tj ET Q q 0 0 0 rg BT 216.05 339.45 Td (T) Tj ET Q q 0 0 0 rg BT 222.86 339.45 Td (rusts ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 250.02 339.45 Td (- ) Tj ET Q q 0 0 0 rg BT 256.52 339.45 Td (T) Tj ET Q q 0 0 0 rg BT 262.74 339.45 Td (o fund the future costs ) Tj ET Q q 0 0 0 rg BT 367.82 339.45 Td (APS expects to incur to decommission ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 325.65 Td (Palo ) Tj ET Q q 0 0 0 rg BT 72.61 325.65 Td (V) Tj ET Q q 0 0 0 rg BT 79.64 325.65 Td (erde, ) Tj ET Q q 0 0 0 rg BT 104.55 325.65 Td (APS established external decommissioning trusts in accordance with NRC regulations. ) Tj ET Q q 0 0 0 rg BT 509.97 325.65 Td (Third-) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 311.85 Td (party investment managers are authorized to buy and sell securities per stated investment guidelines. ) Tj ET Q q 0 0 0 rg BT 517.47 311.85 Td (The trust ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 298.05 Td (funds are invested in fixed income securities and equity securities. Earnings and proceeds from sales and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 284.25 Td (maturities of securities are reinvested in the trusts. Because of the ability of ) Tj ET Q q 0 0 0 rg BT 398.24 284.25 Td (APS to recover decommissioning ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 270.45 Td (costs in rates, and in accordance with the regulatory treatment, ) Tj ET Q q 0 0 0 rg BT 339.46 270.45 Td (APS has deferred realized and unrealized gains ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 256.65 Td (and losses \(including credit losses\) in other regulatory liabilities. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 242.85 Td ( ) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 229.05 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 229.05 Td (Coal Mine Reclamation Escr) Tj ET Q q 0 0 0 rg BT 226.78 229.05 Td (ow ) Tj ET Q q 0 0 0 rg BT 243.08 229.05 Td (Account -) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 290.67 229.05 Td ( ) Tj ET Q q 0 0 0 rg BT 292.91 229.05 Td (APS has investments restricted for the future coal mine ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 215.25 Td (reclamation funding related to Four Corners. ) Tj ET Q q 0 0 0 rg BT 257.84 215.25 Td (This escrow account is primarily invested in fixed income ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 201.45 Td (securities. Earnings and proceeds from sales of securities are reinvested in the escrow account. Because of the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 187.65 Td (ability of ) Tj ET Q q 0 0 0 rg BT 93.58 187.65 Td (APS to recover coal mine reclamation costs in rates, and in accordance with the regulatory treatment, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 173.85 Td (APS has deferred realized and unrealized gains and losses \(including credit losses\) in other regulatory ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 160.05 Td (liabilities. ) Tj ET Q q 0 0 0 rg BT 97.42 160.05 Td (Activities relating to ) Tj ET Q q 0 0 0 rg BT 194.19 160.05 Td (APS coal mine reclamation escrow account investments are included within the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 146.25 Td (other special use funds in the table below) Tj ET Q q 0 0 0 rg BT 238.77 146.25 Td (.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 118.65 Td ( ) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 85.50 118.65 Td (Active Union Employee Medical ) Tj ET Q q 0 0 0 rg BT 245.85 118.65 Td (Account -) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 293.44 118.65 Td ( ) Tj ET Q q 0 0 0 rg BT 295.68 118.65 Td (APS has investments restricted for paying active union ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 104.85 Td (employee medical costs. ) Tj ET Q q 0 0 0 rg BT 164.90 104.85 Td (These investments may be used to pay active union employee medical costs incurred ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 91.05 Td (in the current and future periods. ) Tj ET Q q 0 0 0 rg BT 205.77 91.05 Td (The account is invested primarily in fixed income securities. In accordance ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 77.25 Td (with the ratemaking treatment, ) Tj ET Q q 0 0 0 rg BT 192.89 77.25 Td (APS has deferred the unrealized gains and losses \(including credit losses\) in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 63.45 Td (other regulatory ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 126.14 63.45 Td (liabilities) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 168.94 63.45 Td (. ) Tj ET Q q 0 0 0 rg BT 174.06 63.45 Td (Activities relating to active union employee medical account investments are ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 49.65 Td (included within the other special use funds in the table below) Tj ET Q q 0 0 0 rg BT 330.44 49.65 Td (.) Tj ET Q endstream endobj 125 0 obj <> endobj 126 0 obj <> stream BT /F2 11.50 Tf ET q 0 0 0 rg BT 84.45 757.95 Td (COMBINED NOTES ) Tj ET Q q 0 0 0 rg BT 193.51 757.95 Td (T) Tj ET Q q 0 0 0 rg BT 200.97 757.95 Td (O CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 356.68 757.95 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 447.74 757.95 Td ( ST) Tj ET Q q 0 0 0 rg BT 463.82 757.95 Td (A) Tj ET Q q 0 0 0 rg BT 471.28 757.95 Td (TEMENTS) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 32.55 Td (60) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 712.05 Td ( ) Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 49.50 698.25 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 698.25 Td (APS) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 670.65 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 670.65 Td (The following tables present the unrealized gains and losses based on the original cost of the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 656.85 Td (investment and summarizes the fair value of ) Tj ET Q q 0 0 0 rg BT 255.48 656.85 Td (APS's Nuclear Decommissioning ) Tj ET Q q 0 0 0 rg BT 411.63 656.85 Td (T) Tj ET Q q 0 0 0 rg BT 418.25 656.85 Td (rusts and other special use ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 643.05 Td (fund assets at ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 114.34 643.05 Td (March31, 2020) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 187.47 643.05 Td ( and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 209.83 643.05 Td (December31, 2019) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.20 643.05 Td ( \(dollars in thousands\): ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 629.25 Td () Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 557.75 194.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 244.00 557.75 76.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 320.00 557.75 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 324.00 557.75 52.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 376.00 557.75 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.00 557.75 60.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 440.00 557.75 18.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 458.00 557.75 51.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.00 557.75 5.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 514.00 557.75 49.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 525.75 194.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 244.00 525.75 76.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 320.00 525.75 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 324.00 525.75 52.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 376.00 525.75 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.00 525.75 60.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 440.00 525.75 18.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 458.00 525.75 51.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.00 525.75 5.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 514.00 525.75 49.00 -16.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 244 605.75 m 320 605.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 320 605.75 m 324 605.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 324 605.75 m 376 605.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 376 605.75 m 380 605.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380 605.75 m 440 605.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 440 605.75 m 458 605.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458 605.75 m 509 605.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509 605.75 m 514 605.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 514 605.75 m 563 605.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 244 589.75 m 320 589.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 320 589.75 m 324 589.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 324 589.75 m 376 589.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 376 589.75 m 380 589.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380 589.75 m 440 589.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 244 557.75 m 320 557.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 324 589.75 m 376 589.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 324 557.75 m 376 557.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380 589.75 m 440 589.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380 557.75 m 440 557.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458 557.75 m 509 557.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 514 557.75 m 563 557.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 244 557.75 m 320 557.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 324 557.75 m 376 557.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380 557.75 m 440 557.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458 557.75 m 509 557.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 514 557.75 m 563 557.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 244 509.75 m 320 509.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 244 494.75 m 320 494.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 244 492.75 m 320 492.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 324 509.75 m 376 509.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 324 494.75 m 376 494.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 324 492.75 m 376 492.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380 509.75 m 440 509.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380 494.75 m 440 494.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380 492.75 m 440 492.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458 509.75 m 509 509.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458 494.75 m 509 494.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 458 492.75 m 509 492.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 514 509.75 m 563 509.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 514 494.75 m 563 494.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 514 492.75 m 563 492.75 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 369.90 609.48 Td (Mar) Tj ET Q q 0 0 0 rg BT 388.60 609.48 Td (ch 31, 2020) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 52.50 594.20 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 321.45 594.20 Td (Fair) Tj ET Q q 0 0 0 rg BT 337.86 594.20 Td () Tj ET Q q 0 0 0 rg BT 339.95 594.20 Td (V) Tj ET Q q 0 0 0 rg BT 345.95 594.20 Td (alue) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 473.15 580.20 Td (T) Tj ET Q q 0 0 0 rg BT 478.33 580.20 Td (otal) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 462.05 571.20 Td (Unr) Tj ET Q q 0 0 0 rg BT 477.39 571.20 Td (ealized) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 471.70 562.20 Td (Gains) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 528.15 580.20 Td (T) Tj ET Q q 0 0 0 rg BT 533.33 580.20 Td (otal) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 517.05 571.20 Td (Unr) Tj ET Q q 0 0 0 rg BT 532.39 571.20 Td (ealized) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 525.45 562.20 Td (Losses) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 52.50 562.20 Td (Investment ) Tj ET Q q 0 0 0 rg BT 97.58 562.20 Td (T) Tj ET Q q 0 0 0 rg BT 102.92 562.20 Td (ype:) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 266.30 580.20 Td (Nuclear) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 247.75 571.20 Td (Decommissioning) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 269.30 562.20 Td (T) Tj ET Q q 0 0 0 rg BT 274.97 562.20 Td (rusts) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 338.05 580.20 Td (Other) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 327.60 571.20 Td (Special Use) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 337.45 562.20 Td (Funds) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 399.65 562.20 Td (T) Tj ET Q q 0 0 0 rg BT 404.83 562.20 Td (otal) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 546.42 Td (Equity securities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 246.50 546.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 283.65 546.42 Td (427,915) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 326.50 546.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.65 546.42 Td (6,752) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 382.50 546.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.65 546.42 Td (434,667) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 460.50 546.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.60 546.42 Td (234,695) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 516.50 546.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 533.30 546.47 Td (\(1,201) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 546.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 530.42 Td (A) Tj ET Q q 0 0 0 rg BT 59.35 530.42 Td (vailable for sale-fixed income securities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 283.65 530.42 Td (490,421) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.60 530.42 Td (244,640) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.65 530.42 Td (735,061) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.50 530.42 Td (\(a\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.65 530.42 Td (41,455) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 533.30 530.47 Td (\(3,527) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 530.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 514.42 Td (Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 293.65 514.42 Td (2,090) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.65 514.42 Td (1,331) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 413.65 514.42 Td (3,421) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.50 514.42 Td (\(b\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.15 514.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.15 514.42 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 498.42 Td (T) Tj ET Q q 0 0 0 rg BT 57.91 498.42 Td (otal) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 246.50 498.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 283.65 498.42 Td (920,426) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 326.50 498.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.60 498.42 Td (252,723) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 382.50 498.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 396.10 498.42 Td (1,173,149) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 460.50 498.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.60 498.42 Td (276,150) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 516.50 498.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 533.30 498.47 Td (\(4,728) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 498.42 Td (\)) Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 67.50 466.65 Td (\(a\) ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 466.65 Td (As of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 113.61 466.65 Td (March31, 2020) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 186.75 466.65 Td (, the amortized cost basis of these available-for) Tj ET Q q 0 0 0 rg BT 403.03 466.65 Td (-sale investments is ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 495.97 466.65 Td ($697 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 555.08 466.65 Td (.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 67.50 452.85 Td (\(b\) ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 452.85 Td (Represents net pending securities sales and purchases.) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.00 367.55 194.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 243.00 367.55 76.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 319.00 367.55 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 323.00 367.55 52.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 375.00 367.55 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 379.00 367.55 60.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 367.55 18.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 457.00 367.55 51.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 508.00 367.55 5.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.00 367.55 49.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.00 335.55 194.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 243.00 335.55 76.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 319.00 335.55 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 323.00 335.55 52.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 375.00 335.55 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 379.00 335.55 60.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 335.55 18.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 457.00 335.55 51.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 508.00 335.55 5.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 513.00 335.55 49.00 -16.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 243 415.55 m 319 415.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 319 415.55 m 323 415.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 323 415.55 m 375 415.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 375 415.55 m 379 415.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 379 415.55 m 439 415.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 415.55 m 457 415.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 457 415.55 m 508 415.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 415.55 m 513 415.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513 415.55 m 562 415.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 243 399.55 m 319 399.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 319 399.55 m 323 399.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 323 399.55 m 375 399.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 375 399.55 m 379 399.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 379 399.55 m 439 399.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 243 367.55 m 319 367.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 323 399.55 m 375 399.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 323 367.55 m 375 367.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 379 399.55 m 439 399.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 379 367.55 m 439 367.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 457 367.55 m 508 367.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513 367.55 m 562 367.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 243 367.55 m 319 367.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 323 367.55 m 375 367.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 379 367.55 m 439 367.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 457 367.55 m 508 367.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513 367.55 m 562 367.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 243 319.55 m 319 319.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 243 304.55 m 319 304.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 243 302.55 m 319 302.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 323 319.55 m 375 319.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 323 304.55 m 375 304.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 323 302.55 m 375 302.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 379 319.55 m 439 319.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 379 304.55 m 439 304.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 379 302.55 m 439 302.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 457 319.55 m 508 319.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 457 304.55 m 508 304.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 457 302.55 m 508 302.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513 319.55 m 562 319.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513 304.55 m 562 304.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513 302.55 m 562 302.55 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 361.65 419.28 Td (December) Tj ET Q q 0 0 0 rg BT 404.77 419.28 Td ( 31, 2019) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 51.50 404.00 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 320.45 404.00 Td (Fair) Tj ET Q q 0 0 0 rg BT 336.86 404.00 Td () Tj ET Q q 0 0 0 rg BT 338.95 404.00 Td (V) Tj ET Q q 0 0 0 rg BT 344.95 404.00 Td (alue) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 472.15 390.00 Td (T) Tj ET Q q 0 0 0 rg BT 477.33 390.00 Td (otal) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 461.05 381.00 Td (Unr) Tj ET Q q 0 0 0 rg BT 476.39 381.00 Td (ealized) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 470.70 372.00 Td (Gains) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 527.15 390.00 Td (T) Tj ET Q q 0 0 0 rg BT 532.33 390.00 Td (otal) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 516.05 381.00 Td (Unr) Tj ET Q q 0 0 0 rg BT 531.39 381.00 Td (ealized) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 524.45 372.00 Td (Losses) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 51.50 372.00 Td (Investment ) Tj ET Q q 0 0 0 rg BT 96.58 372.00 Td (T) Tj ET Q q 0 0 0 rg BT 101.92 372.00 Td (ype:) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 265.30 390.00 Td (Nuclear) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 246.75 381.00 Td (Decommissioning) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 268.30 372.00 Td (T) Tj ET Q q 0 0 0 rg BT 273.97 372.00 Td (rusts) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 337.05 390.00 Td (Other) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 326.60 381.00 Td (Special Use) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 336.45 372.00 Td (Funds) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 398.65 372.00 Td (T) Tj ET Q q 0 0 0 rg BT 403.83 372.00 Td (otal) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 356.22 Td (Equity securities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.50 356.22 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 282.65 356.22 Td (529,716) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 325.50 356.22 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 348.65 356.22 Td (7,142) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 381.50 356.22 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.65 356.22 Td (536,858) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.50 356.22 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.60 356.22 Td (337,681) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.50 356.22 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.15 356.22 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 340.22 Td (A) Tj ET Q q 0 0 0 rg BT 58.35 340.22 Td (vailable for sale-fixed income securities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 282.65 340.22 Td (478,658) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.60 340.22 Td (237,479) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.65 340.22 Td (716,137) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 441.50 340.22 Td (\(a\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.65 340.22 Td (25,795) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 539.80 340.27 Td (\(669) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 340.22 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 324.22 Td (Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.65 324.22 Td (2,401) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 356.15 324.22 Td (474) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.65 324.22 Td (2,875) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 441.50 324.22 Td (\(b\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.15 324.22 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.15 324.22 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 308.22 Td (T) Tj ET Q q 0 0 0 rg BT 56.91 308.22 Td (otal) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.50 308.22 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 275.15 308.22 Td (1,010,775) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 325.50 308.22 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.60 308.22 Td (245,095) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 381.50 308.22 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 395.10 308.22 Td (1,255,870) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.50 308.22 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.60 308.22 Td (363,476) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.50 308.22 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 539.80 308.27 Td (\(669) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 308.22 Td (\)) Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 67.50 276.45 Td (\(a\) ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 276.45 Td (As of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 113.61 276.45 Td (December31, 2019) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 203.98 276.45 Td (, the amortized cost basis of these available-for) Tj ET Q q 0 0 0 rg BT 420.26 276.45 Td (-sale investments is ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 513.21 276.45 Td ($691 ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 262.65 Td (million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 118.73 262.65 Td (.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 67.50 248.85 Td (\(b\) ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 248.85 Td (Represents net pending securities sales and purchases.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 221.25 Td ( ) Tj ET Q endstream endobj 127 0 obj <> endobj 128 0 obj <> stream BT /F2 11.50 Tf ET q 0 0 0 rg BT 84.45 757.95 Td (COMBINED NOTES ) Tj ET Q q 0 0 0 rg BT 193.51 757.95 Td (T) Tj ET Q q 0 0 0 rg BT 200.97 757.95 Td (O CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 356.68 757.95 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 447.74 757.95 Td ( ST) Tj ET Q q 0 0 0 rg BT 463.82 757.95 Td (A) Tj ET Q q 0 0 0 rg BT 471.28 757.95 Td (TEMENTS) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 32.55 Td (61) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 712.05 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 712.05 Td (The following table sets forth ) Tj ET Q q 0 0 0 rg BT 223.80 712.05 Td (APS's realized gains and losses relating to the sale and maturity of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 698.25 Td (available-for) Tj ET Q q 0 0 0 rg BT 108.01 698.25 Td (-sale debt securities and equity securities, and the proceeds from the sale and maturity of these ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 684.45 Td (investment securities for the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 182.35 684.45 Td (three months ended March 31, 2020) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 348.43 684.45 Td ( and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 370.78 684.45 Td (2019) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 393.78 684.45 Td ( \(dollars in thousands\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.00 614.95 223.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 272.00 614.95 94.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 366.00 614.95 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 370.00 614.95 94.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 464.00 614.95 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 468.00 614.95 94.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.00 582.95 223.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 272.00 582.95 94.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 366.00 582.95 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 370.00 582.95 94.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 464.00 582.95 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 468.00 582.95 94.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.00 551.95 223.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 272.00 551.95 94.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 366.00 551.95 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 370.00 551.95 94.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 464.00 551.95 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 468.00 551.95 94.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.00 522.95 223.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 272.00 522.95 94.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 366.00 522.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 370.00 522.95 94.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 464.00 522.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 468.00 522.95 94.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 272 647.95 m 366 647.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 366 647.95 m 370 647.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 370 647.95 m 464 647.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 464 647.95 m 468 647.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 468 647.95 m 562 647.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 272 647.95 m 366 647.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 272 614.95 m 366 614.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 366 647.95 m 370 647.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 370 647.95 m 464 647.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 370 614.95 m 464 614.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 464 647.95 m 468 647.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 468 647.95 m 562 647.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 468 614.95 m 562 614.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 272 614.95 m 366 614.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 370 614.95 m 464 614.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 468 614.95 m 562 614.95 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 51.50 652.63 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 354.75 652.40 Td (Thr) Tj ET Q q 0 0 0 rg BT 369.67 652.40 Td (ee Months Ended Mar) Tj ET Q q 0 0 0 rg BT 455.76 652.40 Td (ch 31,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 51.50 619.63 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 303.30 637.40 Td (Nuclear) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 284.75 628.40 Td (Decommissioning) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 306.30 619.40 Td (T) Tj ET Q q 0 0 0 rg BT 311.97 619.40 Td (rusts) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 382.05 628.40 Td (Other) Tj ET Q q 0 0 0 rg BT 404.96 628.40 Td ( Special Use) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 404.45 619.40 Td (Funds) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 504.65 619.40 Td (T) Tj ET Q q 0 0 0 rg BT 509.83 619.40 Td (otal) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 51.50 603.63 Td (2020) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 587.62 Td (Realized gains) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 274.50 587.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 587.62 Td (3,313) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 372.50 587.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.15 587.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 470.50 587.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 587.62 Td (3,313) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 571.62 Td (Realized losses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 336.30 571.67 Td (\(2,227) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.15 571.62 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.15 571.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.30 571.67 Td (\(2,227) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 571.62 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 556.62 Td (Proceeds from the sale of securities \(a\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 329.65 556.62 Td (178,196) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 432.65 556.62 Td (16,891) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 556.62 Td (195,087) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 51.50 542.63 Td (2019) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 527.62 Td (Realized gains) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 274.50 527.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.65 527.62 Td (1,103) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 372.50 527.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.15 527.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 470.50 527.62 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 527.62 Td (1,103) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 512.62 Td (Realized losses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 336.30 512.67 Td (\(1,405) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.15 512.62 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.15 512.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.30 512.67 Td (\(1,405) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 512.62 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 497.62 Td (Proceeds from the sale of securities \(a\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 329.65 497.62 Td (122,593) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 432.65 497.62 Td (56,455) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 497.62 Td (179,048) Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 67.50 465.85 Td (\(a\) ) Tj ET Q q 0 0 0 rg BT 85.50 465.85 Td (Proceeds are reinvested in the Nuclear Decommissioning ) Tj ET Q q 0 0 0 rg BT 351.31 465.85 Td (T) Tj ET Q q 0 0 0 rg BT 357.93 465.85 Td (rusts and other special use funds, excluding ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 452.05 Td (amounts reimbursed to the Company for active union employee medical claims from the active union ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 438.25 Td (employee medical account.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 410.65 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 410.65 Td (The fair value of ) Tj ET Q q 0 0 0 rg BT 164.69 410.65 Td (APS's fixed income securities, summarized by contractual maturities, at ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 497.95 410.65 Td (March31, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 396.85 Td (2020) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 72.50 396.85 Td (, is as follows \(dollars in thousands\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 344.35 145.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 195.00 344.35 89.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 284.00 344.35 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 288.00 344.35 89.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 377.00 344.35 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 381.00 344.35 89.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 470.00 344.35 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 474.00 344.35 89.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 312.35 145.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 195.00 312.35 89.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 284.00 312.35 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 288.00 312.35 89.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 377.00 312.35 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 381.00 312.35 89.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 470.00 312.35 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 474.00 312.35 89.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 280.35 145.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 195.00 280.35 89.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 284.00 280.35 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 288.00 280.35 89.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 377.00 280.35 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 381.00 280.35 89.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 470.00 280.35 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 474.00 280.35 89.00 -16.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 195 344.35 m 284 344.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 284 344.35 m 288 344.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 288 344.35 m 377 344.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 377 344.35 m 381 344.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 381 344.35 m 470 344.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 470 344.35 m 474 344.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 474 344.35 m 563 344.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 195 344.35 m 284 344.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 284 344.35 m 288 344.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 288 344.35 m 377 344.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 377 344.35 m 381 344.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 381 344.35 m 470 344.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 470 344.35 m 474 344.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 474 344.35 m 563 344.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 195 280.35 m 284 280.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 284 280.35 m 288 280.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 288 280.35 m 377 280.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 377 280.35 m 381 280.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 381 280.35 m 470 280.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 470 280.35 m 474 280.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 474 280.35 m 563 280.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 195 280.35 m 284 280.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 195 265.35 m 284 265.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 195 263.35 m 284 263.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 284 280.35 m 288 280.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 284 265.35 m 288 265.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 284 263.35 m 288 263.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 288 280.35 m 377 280.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 288 265.35 m 377 265.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 288 263.35 m 377 263.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 377 280.35 m 381 280.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 377 265.35 m 381 265.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 377 263.35 m 381 263.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 381 280.35 m 470 280.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 381 265.35 m 470 265.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 381 263.35 m 470 263.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 470 280.35 m 474 280.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 470 265.35 m 474 265.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 470 263.35 m 474 263.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 474 280.35 m 563 280.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 474 265.35 m 563 265.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 474 263.35 m 563 263.35 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 349.03 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 222.15 369.03 Td (Nuclear) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 201.50 359.03 Td (Decommissioning) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 227.40 349.03 Td (T) Tj ET Q q 0 0 0 rg BT 233.70 349.03 Td (rust) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 309.60 369.03 Td (Coal Mine) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 305.05 359.03 Td (Reclamation) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 297.50 349.03 Td (Escr) Tj ET Q q 0 0 0 rg BT 316.85 349.03 Td (ow ) Tj ET Q q 0 0 0 rg BT 331.20 349.03 Td (Account) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 397.05 369.03 Td (Active Union) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 385.40 359.03 Td (Employee Medical) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 407.20 349.03 Td (Account) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 507.05 349.03 Td (T) Tj ET Q q 0 0 0 rg BT 512.80 349.03 Td (otal) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 333.02 Td (Less than one year) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 197.50 333.02 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 252.65 333.02 Td (1) Tj ET Q q 0 0 0 rg BT 257.65 333.02 Td (1,91) Tj ET Q q 0 0 0 rg BT 275.15 333.02 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 290.50 333.02 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 345.65 333.02 Td (37,498) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.50 333.02 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.65 333.02 Td (40,872) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.50 333.02 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 333.02 Td (90,281) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 317.02 Td (1 year 5 years) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 247.65 317.02 Td (137,509) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 345.65 317.02 Td (18,487) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 433.65 317.02 Td (143,565) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 317.02 Td (299,561) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 301.02 Td (5 years 10 years) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 247.65 301.02 Td (1) Tj ET Q q 0 0 0 rg BT 252.65 301.02 Td (12,834) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 363.15 301.02 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.15 301.02 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 301.02 Td (1) Tj ET Q q 0 0 0 rg BT 531.65 301.02 Td (12,834) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 285.02 Td (Greater than 10 years) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 247.65 285.02 Td (228,167) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 350.65 285.02 Td (4,218) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.15 285.02 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 285.02 Td (232,385) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 269.02 Td (T) Tj ET Q q 0 0 0 rg BT 57.91 269.02 Td (otal) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 197.50 269.02 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 247.65 269.02 Td (490,421) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 290.50 269.02 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 345.65 269.02 Td (60,203) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.50 269.02 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 433.65 269.02 Td (184,437) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.50 269.02 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 269.02 Td (735,061) Tj ET Q BT /F1 11.50 Tf ET BT /F4 11.50 Tf ET q 0 0 0 rg BT 49.50 227.25 Td ( ) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 213.45 Td (13. ) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 85.50 213.45 Td (New ) Tj ET Q q 0 0 0 rg BT 109.46 213.45 Td (Accounting Standards) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 219.05 213.45 Td ( ) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 185.85 Td (ASU 2016-13, Financial Instruments: Measur) Tj ET Q q 0 0 0 rg BT 272.59 185.85 Td (ement of Cr) Tj ET Q q 0 0 0 rg BT 331.13 185.85 Td (edit Losses) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 158.25 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 158.25 Td ( In June 2016, a new accounting standard was issued that amends the measurement of credit losses on ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 144.45 Td (certain financial instruments. ) Tj ET Q q 0 0 0 rg BT 185.97 144.45 Td (The new standard requires entities to use a current expected credit loss model to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 130.65 Td (measure impairment of certain investments in debt securities, trade accounts receivables, and other financial ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 116.85 Td (instruments. Since the issuance of the new standard, various guidance has been issued that amends the new ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 103.05 Td (standard, including clarifications of certain aspects of the standard and tar) Tj ET Q q 0 0 0 rg BT 388.74 103.05 Td (geted transition relief, among other ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 89.25 Td (changes. ) Tj ET Q q 0 0 0 rg BT 92.08 89.25 Td (The new standard and related amendments were ef) Tj ET Q q 0 0 0 rg BT 325.29 89.25 Td (fective for us on January 1, 2020, and must be ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 75.45 Td (adopted using a modified retrospective approach for certain aspects of the standard, and a prospective approach ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 61.65 Td (for other aspects of the standard. ) Tj ET Q q 0 0 0 rg BT 202.25 61.65 Td (W) Tj ET Q q 0 0 0 rg BT 212.19 61.65 Td (e adopted the standard on January 1, 2020 using primarily the modified ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 47.85 Td (retrospective approach. ) Tj ET Q q 0 0 0 rg BT 159.45 47.85 Td (While the adoption of this guidance changed our process and methodology for ) Tj ET Q endstream endobj 129 0 obj <> endobj 130 0 obj <> stream BT /F2 11.50 Tf ET q 0 0 0 rg BT 84.45 757.95 Td (COMBINED NOTES ) Tj ET Q q 0 0 0 rg BT 193.51 757.95 Td (T) Tj ET Q q 0 0 0 rg BT 200.97 757.95 Td (O CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 356.68 757.95 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 447.74 757.95 Td ( ST) Tj ET Q q 0 0 0 rg BT 463.82 757.95 Td (A) Tj ET Q q 0 0 0 rg BT 471.28 757.95 Td (TEMENTS) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 32.55 Td (62) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 712.05 Td (determining credit losses and resulted in additional disclosures, these changes did not have a material impact ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 698.25 Td (on our financial statements. See Note 2 for related disclosures.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 684.45 Td ( ) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 670.65 Td (14.) Tj ET Q BT /F2 3.00 Tf ET q 0 0 0 rg BT 63.88 670.65 Td ( ) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 85.50 670.65 Td (Changes in ) Tj ET Q q 0 0 0 rg BT 142.38 670.65 Td (Accumulated Other) Tj ET Q q 0 0 0 rg BT 239.59 670.65 Td ( Compr) Tj ET Q q 0 0 0 rg BT 277.39 670.65 Td (ehensive Loss) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 344.17 670.65 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 656.85 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 643.05 Td (The following table shows the changes in Pinnacle ) Tj ET Q q 0 0 0 rg BT 321.63 643.05 Td (W) Tj ET Q q 0 0 0 rg BT 331.57 643.05 Td (est's consolidated accumulated other ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 629.25 Td (comprehensive loss, including reclassification adjustments, net of tax, by component for the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 475.86 629.25 Td (three months ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 615.45 Td (ended March 31, 2020) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 152.97 615.45 Td ( and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 175.33 615.45 Td (2019) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 198.33 615.45 Td ( \(dollars in thousands\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.00 544.95 230.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 279.00 544.95 83.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 362.00 544.95 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 366.00 544.95 19.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.00 544.95 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.00 544.95 73.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 462.00 544.95 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.00 544.95 19.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.00 544.95 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.00 544.95 73.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.00 512.95 230.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 279.00 512.95 83.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 362.00 512.95 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 366.00 512.95 19.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.00 512.95 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.00 512.95 73.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 462.00 512.95 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.00 512.95 19.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.00 512.95 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.00 512.95 73.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.00 469.95 230.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 279.00 469.95 83.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 362.00 469.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 366.00 469.95 19.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.00 469.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.00 469.95 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 462.00 469.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.00 469.95 19.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.00 469.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.00 469.95 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.00 438.95 230.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 279.00 438.95 83.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 362.00 438.95 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 366.00 438.95 19.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.00 438.95 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.00 438.95 73.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 462.00 438.95 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.00 438.95 19.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.00 438.95 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.00 438.95 73.00 -27.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 279 544.95 m 362 544.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389 544.95 m 462 544.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 489 544.95 m 562 544.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 279 485.95 m 362 485.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389 485.95 m 462 485.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 489 485.95 m 562 485.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 279 470.95 m 362 470.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 279 468.95 m 362 468.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389 470.95 m 462 470.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389 468.95 m 462 468.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 489 470.95 m 562 470.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 489 468.95 m 562 468.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 279 411.95 m 362 411.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 279 396.95 m 362 396.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 279 394.95 m 362 394.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389 411.95 m 462 411.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389 396.95 m 462 396.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389 394.95 m 462 394.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 489 411.95 m 562 411.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 489 396.95 m 562 396.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 489 394.95 m 562 394.95 l s BT /F2 11.00 Tf ET q 0 0 0 rg BT 290.00 582.85 Td ( Pension and) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 306.00 571.85 Td (Other) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 285.05 560.85 Td (Postr) Tj ET Q q 0 0 0 rg BT 310.00 560.85 Td (etir) Tj ET Q q 0 0 0 rg BT 326.28 560.85 Td (ement) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 301.05 549.85 Td (Benefits) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 399.15 560.85 Td ( Derivative) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 396.25 549.85 Td (Instruments) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 511.70 549.85 Td ( ) Tj ET Q q 0 0 0 rg BT 514.25 549.85 Td (T) Tj ET Q q 0 0 0 rg BT 520.58 549.85 Td (otal) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 51.50 533.87 Td (Balance December 31, 2019) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 281.50 533.87 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 323.55 533.87 Td (\(56,522) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 357.50 533.87 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 391.50 533.87 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 437.30 533.87 Td (\(574) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 457.50 533.87 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 491.50 533.87 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 523.55 533.87 Td (\(57,096) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 557.50 533.87 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 51.50 517.87 Td (OCI \(loss\) before reclassifications) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 346.50 517.87 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 441.00 517.87 Td (292) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 541.00 517.87 Td (292) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 51.50 501.87 Td (Amounts reclassified from accumulated other) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 51.50 490.87 Td (comprehensive loss) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 332.75 490.87 Td (1,205) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 368.50 500.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 368.50 490.62 Td (\(a\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 446.50 490.87 Td (20) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 468.50 490.62 Td (\(b\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 532.75 490.87 Td (1,225) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 51.50 474.87 Td (Balance March 31, 2020) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 281.50 474.87 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 323.55 474.87 Td (\(55,317) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 357.50 474.87 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 391.50 474.87 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 437.30 474.87 Td (\(262) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 457.50 474.87 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 491.50 474.87 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 523.55 474.87 Td (\(55,579) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 557.50 474.87 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 51.50 443.87 Td (Balance December 31, 2018) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 281.50 443.87 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 323.55 443.87 Td (\(45,997) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 357.50 443.87 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 391.50 443.87 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 429.05 443.87 Td (\(1,71) Tj ET Q q 0 0 0 rg BT 451.96 443.87 Td (1) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 457.50 443.87 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 491.50 443.87 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 523.55 443.87 Td (\(47,708) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 557.50 443.87 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 51.50 427.87 Td (Amounts reclassified from accumulated other) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 51.50 416.87 Td (comprehensive loss) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 341.00 416.87 Td (879) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 368.50 426.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 368.50 416.62 Td (\(a\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 441.00 416.87 Td (328) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 468.50 416.62 Td (\(b\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 532.75 416.87 Td (1,207) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 51.50 400.87 Td (Balance March 31, 2019) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 281.50 400.87 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 323.55 400.87 Td (\(45,1) Tj ET Q q 0 0 0 rg BT 346.46 400.87 Td (18) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 357.50 400.87 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 391.50 400.87 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 429.05 400.87 Td (\(1,383) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 457.50 400.87 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 491.50 400.87 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 523.55 400.87 Td (\(46,501) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 557.50 400.87 Td (\)) Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 368.85 Td (\(a\) ) Tj ET Q q 0 0 0 rg BT 103.50 368.85 Td (These amounts primarily represent amortization of actuarial loss and are included in the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 355.05 Td (computation of net periodic pension cost. See Note 5.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 341.25 Td (\(b\) ) Tj ET Q q 0 0 0 rg BT 103.50 341.25 Td (These amounts represent realized gains and losses and are included in the computation of fuel and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 327.45 Td (purchased power costs and are subject to the PSA. See Note 7.) Tj ET Q endstream endobj 131 0 obj <> endobj 132 0 obj <> stream BT /F2 11.50 Tf ET q 0 0 0 rg BT 84.45 757.95 Td (COMBINED NOTES ) Tj ET Q q 0 0 0 rg BT 193.51 757.95 Td (T) Tj ET Q q 0 0 0 rg BT 200.97 757.95 Td (O CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 356.68 757.95 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 447.74 757.95 Td ( ST) Tj ET Q q 0 0 0 rg BT 463.82 757.95 Td (A) Tj ET Q q 0 0 0 rg BT 471.28 757.95 Td (TEMENTS) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 32.55 Td (63) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 712.05 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 712.05 Td (The following table shows the changes in ) Tj ET Q q 0 0 0 rg BT 278.73 712.05 Td (APS's consolidated accumulated other comprehensive loss, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 698.25 Td (including reclassification adjustments, net of tax, by component for the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 379.73 698.25 Td (three months ended March 31, 2020) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 545.80 698.25 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 684.45 Td (and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 68.98 684.45 Td (2019) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 91.98 684.45 Td ( \(dollars in thousands\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 51.50 611.95 229.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 280.50 611.95 82.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 362.50 611.95 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 366.50 611.95 18.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 384.50 611.95 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 388.50 611.95 72.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 460.50 611.95 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 464.50 611.95 18.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.50 611.95 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.50 611.95 73.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 51.50 579.95 229.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 280.50 579.95 82.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 362.50 579.95 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 366.50 579.95 18.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 384.50 579.95 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 388.50 579.95 72.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 460.50 579.95 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 464.50 579.95 18.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.50 579.95 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.50 579.95 73.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 51.50 536.95 229.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 280.50 536.95 82.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 362.50 536.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 366.50 536.95 18.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 384.50 536.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 388.50 536.95 72.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 460.50 536.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 464.50 536.95 18.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.50 536.95 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.50 536.95 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 51.50 505.95 229.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 280.50 505.95 82.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 362.50 505.95 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 366.50 505.95 18.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 384.50 505.95 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 388.50 505.95 72.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 460.50 505.95 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 464.50 505.95 18.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.50 505.95 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.50 505.95 73.00 -27.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 280.5 611.95 m 362.5 611.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 388.5 611.95 m 460.5 611.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 486.5 611.95 m 559.5 611.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 280.5 552.95 m 362.5 552.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 280.5 537.95 m 362.5 537.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 280.5 535.95 m 362.5 535.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 388.5 552.95 m 460.5 552.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 388.5 537.95 m 460.5 537.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 388.5 535.95 m 460.5 535.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 486.5 552.95 m 559.5 552.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 486.5 537.95 m 559.5 537.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 486.5 535.95 m 559.5 535.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 280.5 478.95 m 362.5 478.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 280.5 463.95 m 362.5 463.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 280.5 461.95 m 362.5 461.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 388.5 478.95 m 460.5 478.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 388.5 463.95 m 460.5 463.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 388.5 461.95 m 460.5 461.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 486.5 478.95 m 559.5 478.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 486.5 463.95 m 559.5 463.95 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 486.5 461.95 m 559.5 461.95 l s BT /F2 11.00 Tf ET q 0 0 0 rg BT 291.00 649.85 Td ( Pension and) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 307.00 638.85 Td (Other) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 286.05 627.85 Td (Postr) Tj ET Q q 0 0 0 rg BT 311.00 627.85 Td (etir) Tj ET Q q 0 0 0 rg BT 327.28 627.85 Td (ement) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 302.05 616.85 Td (Benefits) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 398.15 627.85 Td ( Derivative) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 395.25 616.85 Td (Instruments) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 509.20 616.85 Td ( ) Tj ET Q q 0 0 0 rg BT 511.75 616.85 Td (T) Tj ET Q q 0 0 0 rg BT 518.08 616.85 Td (otal) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 54.00 600.87 Td (Balance December 31, 2019) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 283.00 600.87 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 324.05 600.87 Td (\(34,948) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 358.00 600.87 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 391.00 600.87 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 435.80 600.87 Td (\(574) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 456.00 600.87 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 489.00 600.87 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 521.05 600.87 Td (\(35,522) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 555.00 600.87 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 54.00 584.87 Td (OCI \(loss\) before reclassifications) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 347.00 584.87 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 439.50 584.87 Td (292) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 538.50 584.87 Td (292) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 54.00 568.87 Td (Amounts reclassified from accumulated other) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 54.00 557.87 Td (comprehensive loss) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 333.25 557.87 Td (1,013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.00 567.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.00 557.62 Td (\(a\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 445.00 557.87 Td (20) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.00 567.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.00 557.62 Td (\(b\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 530.25 557.87 Td (1,033) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 54.00 541.87 Td (Balance March 31, 2020) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 283.00 541.87 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 324.05 541.87 Td (\(33,935) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 358.00 541.87 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 391.00 541.87 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 435.80 541.87 Td (\(262) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 456.00 541.87 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 489.00 541.87 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 521.05 541.87 Td (\(34,197) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 555.00 541.87 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 54.00 510.87 Td (Balance December 31, 2018) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 283.00 510.87 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 324.05 510.87 Td (\(25,396) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 358.00 510.87 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 391.00 510.87 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 427.55 510.87 Td (\(1,71) Tj ET Q q 0 0 0 rg BT 450.46 510.87 Td (1) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 456.00 510.87 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 489.00 510.87 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 521.05 510.87 Td (\(27,107) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 555.00 510.87 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 54.00 494.87 Td (Amounts reclassified from accumulated other) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 54.00 483.87 Td (comprehensive loss) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 341.50 483.87 Td (752) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.00 493.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.00 483.62 Td (\(a\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 439.50 483.87 Td (328) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.00 493.62 Td () Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.00 483.62 Td (\(b\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 530.25 483.87 Td (1,080) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 54.00 467.87 Td (Balance March 31, 2019) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 283.00 467.87 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 324.05 467.87 Td (\(24,644) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 358.00 467.87 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 391.00 467.87 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 427.55 467.87 Td (\(1,383) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 456.00 467.87 Td (\)) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 489.00 467.87 Td ($) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 521.05 467.87 Td (\(26,027) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 555.00 467.87 Td (\)) Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 435.85 Td (\(a\) ) Tj ET Q q 0 0 0 rg BT 103.50 435.85 Td (These amounts primarily represent amortization of actuarial loss and are included in the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 422.05 Td (computation of net periodic pension cost. See Note 5.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 408.25 Td (\(b\) ) Tj ET Q q 0 0 0 rg BT 103.50 408.25 Td (These amounts represent realized gains and losses and are included in the computation of fuel and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 394.45 Td (purchased power costs and are subject to the PSA. See Note 7.) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 366.85 Td (15.) Tj ET Q BT /F2 3.00 Tf ET q 0 0 0 rg BT 63.88 366.85 Td ( ) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 85.50 366.85 Td (Income ) Tj ET Q q 0 0 0 rg BT 124.58 366.85 Td (T) Tj ET Q q 0 0 0 rg BT 131.19 366.85 Td (axes) Tj ET Q BT /F2 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 353.05 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 339.25 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 339.25 Td (The ) Tj ET Q q 0 0 0 rg BT 106.05 339.25 Td (T) Tj ET Q q 0 0 0 rg BT 112.27 339.25 Td (ax ) Tj ET Q q 0 0 0 rg BT 125.36 339.25 Td (Act reduced the corporate tax rate to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 296.18 339.25 Td (21%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 317.26 339.25 Td ( ef) Tj ET Q q 0 0 0 rg BT 328.86 339.25 Td (fective January 1, 2018. ) Tj ET Q q 0 0 0 rg BT 444.15 339.25 Td (As a result of this rate ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 325.45 Td (reduction, the Company recognized a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 224.50 325.45 Td ($1.14 billion) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 283.28 325.45 Td ( reduction in its net deferred income tax liabilities as of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 311.65 Td (December 31, 2017. In accordance with accounting for regulated companies, the ef) Tj ET Q q 0 0 0 rg BT 434.71 311.65 Td (fect of this rate reduction ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 297.85 Td (was substantially of) Tj ET Q q 0 0 0 rg BT 140.64 297.85 Td (fset by a net regulatory liability) Tj ET Q q 0 0 0 rg BT 284.57 297.85 Td (.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 270.25 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 270.25 Td (Federal income tax laws require the amortization of a majority of the balance over the remaining ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 256.45 Td (regulatory life of the related property) Tj ET Q q 0 0 0 rg BT 219.58 256.45 Td (. ) Tj ET Q q 0 0 0 rg BT 227.57 256.45 Td (As a result of the modifications made to the annual transmission ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 242.65 Td (formula rate during the second quarter of 2018, the Company began amortization of FERC jurisdictional net ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 228.85 Td (excess deferred tax liabilities in 2018. On March 13, 2019, the ) Tj ET Q q 0 0 0 rg BT 341.72 228.85 Td (ACC approved the Company's proposal to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 215.05 Td (amortize non-depreciation related net excess deferred tax liabilities subject to its jurisdiction over a twelve-) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 201.25 Td (month period. ) Tj ET Q q 0 0 0 rg BT 119.14 201.25 Td (As a result, the Company began amortization in March 2019. For the quarter ended ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 507.80 201.25 Td (March31, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 187.45 Td (2020) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 72.50 187.45 Td (, the Company recorded ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 185.87 187.45 Td ($14 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 239.22 187.45 Td ( of income tax benefit related to the amortization of these non-) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 173.65 Td (depreciation related net excess deferred tax liabilities. On October 29, 2019, the ) Tj ET Q q 0 0 0 rg BT 421.85 173.65 Td (ACC approved the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 159.85 Td (Company) Tj ET Q q 0 0 0 rg BT 97.42 159.85 Td (s proposal to amortize depreciation related net excess deferred tax liabilities subject to its ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 146.05 Td (jurisdiction over a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 136.05 146.05 Td (28.5) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 156.17 146.05 Td (-year period with amortization to retroactively begin as of January 1, 2018. For the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 132.25 Td (quarter ended ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 115.27 132.25 Td (March31, 2020) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 188.41 132.25 Td (, the Company recorded ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 301.78 132.25 Td ($6 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 349.38 132.25 Td ( of income tax benefit related to amortization ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 118.45 Td (of these depreciation related liabilities. See Note 4 for more details.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 104.65 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 90.85 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 90.85 Td (In ) Tj ET Q q 0 0 0 rg BT 97.32 90.85 Td (August 2018, U.S. ) Tj ET Q q 0 0 0 rg BT 185.29 90.85 Td (T) Tj ET Q q 0 0 0 rg BT 191.91 90.85 Td (reasury proposed regulations that clarified bonus depreciation transition rules ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 77.05 Td (under the ) Tj ET Q q 0 0 0 rg BT 95.28 77.05 Td (T) Tj ET Q q 0 0 0 rg BT 101.50 77.05 Td (ax ) Tj ET Q q 0 0 0 rg BT 114.59 77.05 Td (Act for regulated public utility property placed in service after September 27, 2017 and before ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 63.25 Td (January 1, 2018. However) Tj ET Q q 0 0 0 rg BT 172.95 63.25 Td (, these proposed regulations were ambiguous with respect to regulated public utility ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 49.45 Td (property placed in service on or after January 1, 2018. In September 2019, U.S. ) Tj ET Q q 0 0 0 rg BT 420.39 49.45 Td (T) Tj ET Q q 0 0 0 rg BT 427.01 49.45 Td (reasury issued final ) Tj ET Q endstream endobj 133 0 obj <> endobj 134 0 obj <> stream BT /F2 11.50 Tf ET q 0 0 0 rg BT 84.45 757.95 Td (COMBINED NOTES ) Tj ET Q q 0 0 0 rg BT 193.51 757.95 Td (T) Tj ET Q q 0 0 0 rg BT 200.97 757.95 Td (O CONDENSED CONSOLIDA) Tj ET Q q 0 0 0 rg BT 356.68 757.95 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 447.74 757.95 Td ( ST) Tj ET Q q 0 0 0 rg BT 463.82 757.95 Td (A) Tj ET Q q 0 0 0 rg BT 471.28 757.95 Td (TEMENTS) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 32.55 Td (64) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 712.05 Td (regulations, which replaced the ) Tj ET Q q 0 0 0 rg BT 195.44 712.05 Td (August 2018 proposed regulations. ) Tj ET Q q 0 0 0 rg BT 361.97 712.05 Td (These final regulations did not materially ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 698.25 Td (impact any tax position taken by the Company for property placed in service after September 27, 2017 and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 684.45 Td (before January 1, 2018. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 656.85 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 656.85 Td (Along with the September 2019 final regulations, U.S. ) Tj ET Q q 0 0 0 rg BT 339.22 656.85 Td (T) Tj ET Q q 0 0 0 rg BT 345.84 656.85 Td (reasury also issued new proposed regulations ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 643.05 Td (which clarify bonus depreciation transition rules under the ) Tj ET Q q 0 0 0 rg BT 320.75 643.05 Td (T) Tj ET Q q 0 0 0 rg BT 326.97 643.05 Td (ax ) Tj ET Q q 0 0 0 rg BT 340.06 643.05 Td (Act for property placed in service by regulated ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 629.25 Td (public utilities after December 31, 2017. ) Tj ET Q q 0 0 0 rg BT 238.35 629.25 Td (The proposed regulations provide that certain regulated public utility ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 615.45 Td (property which was under construction prior to September 28, 2017 and placed in service between January 1, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 601.65 Td (2018 and December 31, 2020 would continue to be eligible for bonus depreciation under the rules and bonus ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 587.85 Td (depreciation phase-downs in ef) Tj ET Q q 0 0 0 rg BT 192.68 587.85 Td (fect prior to enactment of the ) Tj ET Q q 0 0 0 rg BT 329.13 587.85 Td (T) Tj ET Q q 0 0 0 rg BT 335.36 587.85 Td (ax ) Tj ET Q q 0 0 0 rg BT 348.45 587.85 Td (Act. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 560.25 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 560.25 Td (Net income associated with the Palo ) Tj ET Q q 0 0 0 rg BT 255.20 560.25 Td (V) Tj ET Q q 0 0 0 rg BT 262.23 560.25 Td (erde sale leaseback ) Tj ET Q q 0 0 0 rg BT 353.01 560.25 Td (VIEs is not subject to tax. ) Tj ET Q q 0 0 0 rg BT 476.95 560.25 Td (As a result, there ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 546.45 Td (is no income tax expense associated with the ) Tj ET Q q 0 0 0 rg BT 258.16 546.45 Td (VIEs recorded on the Pinnacle ) Tj ET Q q 0 0 0 rg BT 401.33 546.45 Td (W) Tj ET Q q 0 0 0 rg BT 411.27 546.45 Td (est Consolidated and ) Tj ET Q q 0 0 0 rg BT 509.33 546.45 Td (APS ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 532.65 Td (Consolidated Statements of Income. See Note 6 for additional details related to the Palo ) Tj ET Q q 0 0 0 rg BT 459.37 532.65 Td (V) Tj ET Q q 0 0 0 rg BT 466.40 532.65 Td (erde sale leaseback ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 518.85 Td (VIEs.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 491.25 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 491.25 Td (As of the balance sheet date, the tax year ended December31, 2016 and all subsequent tax years ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 477.45 Td (remain subject to examination by the IRS. ) Tj ET Q q 0 0 0 rg BT 248.91 477.45 Td (W) Tj ET Q q 0 0 0 rg BT 259.30 477.45 Td (ith a few exceptions, the Company is no longer subject to state ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 463.65 Td (income tax examinations by tax authorities for years before 2015.) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 436.05 Td ( 16.) Tj ET Q BT /F2 3.00 Tf ET q 0 0 0 rg BT 66.75 436.05 Td ( ) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 85.50 436.05 Td (Asset Retir) Tj ET Q q 0 0 0 rg BT 139.90 436.05 Td (ement Obligations) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 229.66 436.05 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 408.45 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 408.45 Td (In the first quarter of 2020, ) Tj ET Q q 0 0 0 rg BT 212.29 408.45 Td (APS recognized an asset retirement obligation \("ARO"\) for its share of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 394.65 Td (corrective action and water monitoring costs at Four Corners and the Navajo Plant \(see additional details in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 380.85 Td (Notes 4 and 8\), which resulted in a decrease to the ) Tj ET Q q 0 0 0 rg BT 283.26 380.85 Td (ARO of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 322.87 380.85 Td ($1) Tj ET Q q 0 0 0 rg BT 333.95 380.85 Td (1 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 375.80 380.85 Td ( for Four Corners and an increase to the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 367.05 Td (ARO of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 89.11 367.05 Td ($5 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 136.71 367.05 Td ( for the Navajo Plant.) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 339.45 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 339.45 Td (The following schedule shows the change in our asset retirement obligations for the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 473.53 339.45 Td (three months ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 325.65 Td (ended March 31, 2020) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 152.97 325.65 Td ( \(dollars in thousands\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 285.35 448.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 285.35 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 253.35 448.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 253.35 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 221.35 448.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 221.35 65.00 -16.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 301.35 m 563 301.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 285.35 m 563 285.35 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 205.35000000000002 m 563 205.35000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 205.35000000000002 m 563 205.35000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 190.35000000000002 m 563 190.35000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 188.35000000000002 m 563 188.35000000000002 l s BT /F2 11.00 Tf ET q 0 0 0 rg BT 52.50 290.25 Td () Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 519.00 290.25 Td (2020) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 274.38 Td (Asset retirement obligations at January 1, 2020) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 500.50 274.38 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 521.25 274.38 Td (657,218) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 58.50 258.38 Td (Changes attributable to:) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 559.50 258.38 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 70.50 242.38 Td (Accretion expense) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 527.00 242.38 Td (10,219) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 70.50 226.38 Td (Settlements) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 528.90 226.38 Td (\(2,295) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 558.65 226.38 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 70.50 210.38 Td (Estimated cash flow revisions) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 528.90 210.38 Td (\(5,821) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 558.65 210.38 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 194.38 Td (Asset retirement obligations at March 31, 2020) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 500.50 194.38 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 521.25 194.38 Td (659,321) Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 162.25 Td (In accordance with regulatory accounting, ) Tj ET Q q 0 0 0 rg BT 281.56 162.25 Td (APS accrues removal costs for its regulated utility assets, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 148.45 Td (even if there is no legal obligation for removal. See detail of regulatory liabilities in Note 4.) Tj ET Q endstream endobj 135 0 obj <> endobj 136 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 32.55 Td (65) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 743.75 Td (ITEM 2.) Tj ET Q BT /F2 3.00 Tf ET q 0 0 0 rg BT 91.67 743.75 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 98.42 743.75 Td ( ) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 101.30 743.75 Td (MANAGEMENTS DISCUSSION ) Tj ET Q q 0 0 0 rg BT 273.83 743.75 Td (AND ) Tj ET Q q 0 0 0 rg BT 300.98 743.75 Td (ANAL) Tj ET Q q 0 0 0 rg BT 332.52 743.75 Td (YSIS OF) Tj ET Q q 0 0 0 rg BT 376.51 743.75 Td ( FINANCIAL) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 444.55 743.75 Td ( ) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 447.43 743.75 Td (CONDITION ) Tj ET Q q 0 0 0 rg BT 517.40 743.75 Td (AND ) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 729.95 Td (RESUL) Tj ET Q q 0 0 0 rg BT 86.79 729.95 Td (TS OF) Tj ET Q q 0 0 0 rg BT 119.28 729.95 Td ( OPERA) Tj ET Q q 0 0 0 rg BT 161.55 729.95 Td (TIONS) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 716.15 Td () Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 259.95 702.35 Td (INTRODUCTION) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 306.00 688.55 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 674.75 Td (The following discussion should be read in conjunction with Pinnacle ) Tj ET Q q 0 0 0 rg BT 409.16 674.75 Td (W) Tj ET Q q 0 0 0 rg BT 419.10 674.75 Td (est) Tj ET Q q 0 0 0 rg BT 435.07 674.75 Td (s Condensed Consolidated ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 660.95 Td (Financial Statements and ) Tj ET Q q 0 0 0 rg BT 167.36 660.95 Td (APS) Tj ET Q q 0 0 0 rg BT 191.65 660.95 Td (s Condensed Consolidated Financial Statements and the related Combined ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 647.15 Td (Notes that appear in Item 1 of this report. For information on factors that may cause our actual future results to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 633.35 Td (dif) Tj ET Q q 0 0 0 rg BT 62.07 633.35 Td (fer from those we currently seek or anticipate, see "Forward-Looking Statements" at the front of this report ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 619.55 Td (and "Risk Factors" in Part1,Item 1A) Tj ET Q q 0 0 0 rg BT 221.16 619.55 Td ( of the 2019 Form10-K and Part II, Item 1A) Tj ET Q q 0 0 0 rg BT 425.25 619.55 Td ( of this report.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 605.75 Td () Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 273.45 591.95 Td (OVER) Tj ET Q q 0 0 0 rg BT 306.27 591.95 Td (VIEW) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 564.35 Td (Business Overview) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 536.75 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 536.75 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 127.77 536.75 Td (W) Tj ET Q q 0 0 0 rg BT 137.70 536.75 Td (est is an investor) Tj ET Q q 0 0 0 rg BT 214.45 536.75 Td (-owned electric utility holding company based in Phoenix, ) Tj ET Q q 0 0 0 rg BT 485.61 536.75 Td (Arizona with ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 522.95 Td (consolidated assets of about $19 billion. For over 130 years, Pinnacle ) Tj ET Q q 0 0 0 rg BT 371.56 522.95 Td (W) Tj ET Q q 0 0 0 rg BT 381.49 522.95 Td (est and our af) Tj ET Q q 0 0 0 rg BT 443.55 522.95 Td (filiates have provided ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 509.15 Td (ener) Tj ET Q q 0 0 0 rg BT 69.08 509.15 Td (gy and ener) Tj ET Q q 0 0 0 rg BT 122.52 509.15 Td (gy-related products to people and businesses throughout ) Tj ET Q q 0 0 0 rg BT 383.46 509.15 Td (Arizona. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 481.55 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 481.55 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 127.77 481.55 Td (W) Tj ET Q q 0 0 0 rg BT 137.70 481.55 Td (est derives essentially all of our revenues and earnings from our principal subsidiary) Tj ET Q q 0 0 0 rg BT 524.66 481.55 Td (, ) Tj ET Q q 0 0 0 rg BT 529.77 481.55 Td (APS. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 467.75 Td (APS is ) Tj ET Q q 0 0 0 rg BT 83.38 467.75 Td (Arizona) Tj ET Q q 0 0 0 rg BT 123.62 467.75 Td (s lar) Tj ET Q q 0 0 0 rg BT 142.89 467.75 Td (gest and longest-serving electric company that generates safe, af) Tj ET Q q 0 0 0 rg BT 438.69 467.75 Td (fordable and reliable ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 453.95 Td (electricity for approximately 1.3 million retail customers in 1) Tj ET Q q 0 0 0 rg BT 330.43 453.95 Td (1 of ) Tj ET Q q 0 0 0 rg BT 350.88 453.95 Td (Arizona) Tj ET Q q 0 0 0 rg BT 391.11 453.95 Td (s 15 counties. ) Tj ET Q q 0 0 0 rg BT 456.28 453.95 Td (APS is also the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 440.15 Td (operator and co-owner of Palo ) Tj ET Q q 0 0 0 rg BT 192.03 440.15 Td (V) Tj ET Q q 0 0 0 rg BT 199.06 440.15 Td (erde - a primary source of electricity for the southwest United States and the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 426.35 Td (lar) Tj ET Q q 0 0 0 rg BT 61.42 426.35 Td (gest nuclear power plant in the United States.) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 398.75 Td (COVID-19 Pandemic) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 371.15 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 371.15 Td (The current COVID-19 pandemic has led to economic disruption and volatility in financial markets ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 357.35 Td (worldwide. ) Tj ET Q q 0 0 0 rg BT 107.10 357.35 Td (The Company is operating under long-standing crisis and business continuity plans that exist to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 343.55 Td (address situations including pandemics like COVID-19. ) Tj ET Q q 0 0 0 rg BT 312.48 343.55 Td (W) Tj ET Q q 0 0 0 rg BT 322.41 343.55 Td (e are focused on ensuring the health and safety of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 329.75 Td (our employees, contractors and the general public by helping limit spread of this virus and ensuring continued, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 315.95 Td (safe and reliable electric service for ) Tj ET Q q 0 0 0 rg BT 215.52 315.95 Td (APS customers. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 288.35 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 288.35 Td (W) Tj ET Q q 0 0 0 rg BT 95.43 288.35 Td (e have identified business-critical positions in both our operations and support or) Tj ET Q q 0 0 0 rg BT 467.31 288.35 Td (ganizations and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 274.55 Td (identified backup personnel who are intended to provide support if needed to maintain operations with a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 260.75 Td (reduced workforce. Essential planned work and capital investments are continuing during the pandemic but ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 246.95 Td (certain non-essential planned work has been postponed to later in 2020. ) Tj ET Q q 0 0 0 rg BT 384.30 246.95 Td (The Company conducted a contract ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 233.15 Td (review to confirm adequacy of needed summer resources and has measures in place to continue to monitor ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 219.35 Td (resource needs and supply chain adequacy) Tj ET Q q 0 0 0 rg BT 243.86 219.35 Td (. ) Tj ET Q q 0 0 0 rg BT 251.85 219.35 Td (At this time, the Company does not believe it has any material ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 205.55 Td (supply chain risks due to COVID-19 that would impact its ability to serve customers) Tj ET Q q 0 0 0 rg BT 441.83 205.55 Td ( needs. ) Tj ET Q q 0 0 0 rg BT 481.75 205.55 Td (Although it is ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 191.75 Td (still too early to predict, if the impacts of COVID-19 we experienced from March 13th through ) Tj ET Q q 0 0 0 rg BT 489.27 191.75 Td (April 30th ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 177.95 Td (continue through the end of the second quarter) Tj ET Q q 0 0 0 rg BT 263.32 177.95 Td (, we would anticipate a net 7% decrease in weather normalized ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 164.15 Td (retail electricity sales compared to the second quarter 2019.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 136.55 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 136.55 Td (As a result of the COVID-19 pandemic, in mid-March 2020 the commercial paper markets failed to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 122.75 Td (function normally and we were unable to utilize commercial paper as our primary method of acquiring short-) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 108.95 Td (term capital, which resulted in us drawing on our revolving credit facilities during the first quarter of 2020. In ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 95.15 Td (mid-April 2020, we were again able to utilize the commercial paper market and we have used the commercial ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 81.35 Td (paper proceeds to pay down the revolving credit facilities by approximately $220 million through May 1, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 67.55 Td (2020. ) Tj ET Q q 0 0 0 rg BT 80.92 67.55 Td (W) Tj ET Q q 0 0 0 rg BT 90.85 67.55 Td (e do not believe this will have a material impact on our financial position, results of operations or cash ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 53.75 Td (flows.) Tj ET Q endstream endobj 137 0 obj <> endobj 138 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 30.55 Td (66) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 727.25 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 727.25 Td (Due to the COVID-19 pandemic, ) Tj ET Q q 0 0 0 rg BT 240.72 727.25 Td (APS has voluntarily suspended disconnections of customers for ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 713.45 Td (nonpayment beginning March 13, 2020. In addition, ) Tj ET Q q 0 0 0 rg BT 295.12 713.45 Td (APS has waived all late payment fees during this current ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 699.65 Td (moratorium. ) Tj ET Q q 0 0 0 rg BT 111.79 699.65 Td (APS currently estimates that the Summer Disconnection Moratorium \(see Note 4 for discussion ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 685.85 Td (of the Summer Disconnection Moratorium\), the suspension of disconnections during the COVID-19 pandemic ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 672.05 Td (and the increased bad debt expense associated with both events will result in a negative impact to its 2020 ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 658.25 Td (operating results of approximately$20 to $30 millionpre-tax above the impact of disconnections on its ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 644.45 Td (operating results for years that did not have the Summer Disconnection Moratorium or COVID-19 pandemic. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 630.65 Td (APS is anticipating an increase in bad debt expense associated with the COVID-19 pandemic, but it still ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 616.85 Td (believes that costs associated with the Summer Disconnection Moratorium and the COVID-19 disconnection ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 603.05 Td (suspensions and related bad debt expense with both events will fall within this estimated $20 to $30 million ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 589.25 Td (range. ) Tj ET Q q 0 0 0 rg BT 83.46 589.25 Td (These estimated impact amounts depend on certain assumptions, including customer behaviors and the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 575.45 Td (impacts of COVID-19 on the economy not extending into 2021. ) Tj ET Q q 0 0 0 rg BT 349.10 575.45 Td (APS also established a customer support fund ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 561.65 Td (of $1.5 million to assist customers with a one-time credit of up to $100 on their bill with a priority given to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 547.85 Td (customers on limited-income service plans and also is providing $1.25 million to assist local non-profits and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 534.05 Td (community or) Tj ET Q q 0 0 0 rg BT 114.13 534.05 Td (ganizations working to mitigate the virus' impact. ) Tj ET Q q 0 0 0 rg BT 347.13 534.05 Td (Additionally) Tj ET Q q 0 0 0 rg BT 404.52 534.05 Td (, due to COVID-19, ) Tj ET Q q 0 0 0 rg BT 498.43 534.05 Td (APS delayed ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 520.25 Td (the reset of the EIS adjustor and suspended the discontinuation of ) Tj ET Q q 0 0 0 rg BT 353.66 520.25 Td (TEAM Phase II to the first billing cycle in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 506.45 Td (May 2020 rather than ) Tj ET Q q 0 0 0 rg BT 151.06 506.45 Td (April 2020 \(see Note 4 for discussion of EIS and ) Tj ET Q q 0 0 0 rg BT 378.26 506.45 Td (TEAM Phase II\). ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 478.85 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 478.85 Td (On ) Tj ET Q q 0 0 0 rg BT 101.80 478.85 Td (April 17, 2020, ) Tj ET Q q 0 0 0 rg BT 174.31 478.85 Td (APS filed an application with the ) Tj ET Q q 0 0 0 rg BT 329.54 478.85 Td (ACC requesting a COVID-19 emer) Tj ET Q q 0 0 0 rg BT 492.22 478.85 Td (gency relief ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 465.05 Td (package to provide additional assistance to its customers. On May 5, 2020, the ) Tj ET Q q 0 0 0 rg BT 415.84 465.05 Td (ACC approved ) Tj ET Q q 0 0 0 rg BT 487.39 465.05 Td (APS returning ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 451.25 Td ($36 million that has been collected through the DSM ) Tj ET Q q 0 0 0 rg BT 295.76 451.25 Td (Adjustor Clause, but not allocated for current DSM ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 437.45 Td (programs, directly to customers through a bill credit in June 2020 \(see Note 4 for discussion of the DSM ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 423.65 Td (Adjustor Clause\). ) Tj ET Q q 0 0 0 rg BT 135.75 423.65 Td (Also, on May 5, 2020, ) Tj ET Q q 0 0 0 rg BT 241.17 423.65 Td (APS voluntarily committed to the ) Tj ET Q q 0 0 0 rg BT 398.65 423.65 Td (ACC to contribute $5.3 million of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 409.85 Td (non-ratepayer funds to provide assistance to residential and business customers that have been impacted by the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 396.05 Td (COVID-19 pandemic.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 368.45 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 368.45 Td (More ) Tj ET Q q 0 0 0 rg BT 113.28 368.45 Td (detailed ) Tj ET Q q 0 0 0 rg BT 152.56 368.45 Td (discussion ) Tj ET Q q 0 0 0 rg BT 203.36 368.45 Td (of ) Tj ET Q q 0 0 0 rg BT 215.81 368.45 Td (the ) Tj ET Q q 0 0 0 rg BT 232.74 368.45 Td (recent ) Tj ET Q q 0 0 0 rg BT 263.70 368.45 Td (impacts ) Tj ET Q q 0 0 0 rg BT 302.34 368.45 Td (and ) Tj ET Q q 0 0 0 rg BT 321.82 368.45 Td (future ) Tj ET Q q 0 0 0 rg BT 352.16 368.45 Td (uncertainties ) Tj ET Q q 0 0 0 rg BT 413.79 368.45 Td (related ) Tj ET Q q 0 0 0 rg BT 447.95 368.45 Td (to ) Tj ET Q q 0 0 0 rg BT 459.77 368.45 Td (the ) Tj ET Q q 0 0 0 rg BT 476.69 368.45 Td (COVID) Tj ET Q /GS0 gs q 3.84 0 0 11.46 513.11 365.97 cm /I32 Do Q q 0 0 0 rg BT 516.94 368.45 Td (19 ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 354.65 Td (pandemic can be found throughout this Management's Discussion and ) Tj ET Q q 0 0 0 rg BT 373.84 354.65 Td (Analysis of Financial Condition and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 340.85 Td (Results of Operations, the Combined Notes to Pinnacle ) Tj ET Q q 0 0 0 rg BT 306.42 340.85 Td (W) Tj ET Q q 0 0 0 rg BT 316.35 340.85 Td (est's and ) Tj ET Q q 0 0 0 rg BT 357.39 340.85 Td (APS's financial statements that appear in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 327.05 Td (Item 1of this report and "Risk Factors" in Part II, Item 1A) Tj ET Q q 0 0 0 rg BT 315.04 327.05 Td ( of this report.) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 299.45 Td (Strategic Overview) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 271.85 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 271.85 Td (Our strategy is to deliver shareholder value by creating a sustainable ener) Tj ET Q q 0 0 0 rg BT 422.83 271.85 Td (gy future for ) Tj ET Q q 0 0 0 rg BT 483.19 271.85 Td (Arizona with a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 258.05 Td (clean, af) Tj ET Q q 0 0 0 rg BT 88.24 258.05 Td (fordable, reliable and customer) Tj ET Q q 0 0 0 rg BT 231.06 258.05 Td (-focused plan.) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 230.45 Td ( ) Tj ET Q BT /F2 11.50 Tf ET 0 0 0 RG /GS0 gs 1.09 w 0 i [] 0 d 1 J 1 j 3 M 85.5 228.65031738281255 m 220.92529296875 228.65031738281255 l s q 0 0 0 rg BT 85.50 230.45 Td (Clean Energy Commitment) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 202.85 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 202.85 Td (W) Tj ET Q q 0 0 0 rg BT 95.43 202.85 Td (e are committed to doing our part to make the future clean and carbon-free. Our vision for ) Tj ET Q q 0 0 0 rg BT 511.85 202.85 Td (APS and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 189.05 Td (Arizona presents an opportunity to engage with customers, communities, employees, policymakers, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 175.25 Td (shareholders and others to achieve a shared, sustainable vision for ) Tj ET Q q 0 0 0 rg BT 355.12 175.25 Td (Arizona. ) Tj ET Q q 0 0 0 rg BT 400.58 175.25 Td (This goal is based on sound ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 161.45 Td (science and supports continued growth and economic development while maintaining reliability and af) Tj ET Q q 0 0 0 rg BT 522.58 161.45 Td (fordable ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 147.65 Td (prices for ) Tj ET Q q 0 0 0 rg BT 95.48 147.65 Td (APS's customers.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 120.05 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 120.05 Td (APS's new clean ener) Tj ET Q q 0 0 0 rg BT 184.77 120.05 Td (gy goals consist of three parts: ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 99.00 100.25 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 121.50 100.25 Td (A) Tj ET Q q 0 0 0 rg BT 129.17 100.25 Td ( 2050 goal to provide 100% clean, carbon-free electricity;) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 99.00 86.45 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 121.50 86.45 Td (A) Tj ET Q q 0 0 0 rg BT 129.17 86.45 Td ( 2030 tar) Tj ET Q q 0 0 0 rg BT 169.84 86.45 Td (get of achieving a resource mix that is 65% clean ener) Tj ET Q q 0 0 0 rg BT 418.70 86.45 Td (gy) Tj ET Q q 0 0 0 rg BT 429.46 86.45 Td (, with 45% of the generation ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 121.50 72.65 Td (portfolio coming from renewable ener) Tj ET Q q 0 0 0 rg BT 296.92 72.65 Td (gy; and) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 99.00 58.85 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 121.50 58.85 Td (A) Tj ET Q q 0 0 0 rg BT 129.17 58.85 Td ( commitment to end ) Tj ET Q q 0 0 0 rg BT 223.72 58.85 Td (APS) Tj ET Q q 0 0 0 rg BT 248.01 58.85 Td (s use of coal-fired generation by 2031.) Tj ET Q endstream endobj 139 0 obj <> endobj 140 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 30.55 Td (67) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 727.25 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 727.25 Td (APS's ability to successfully execute its clean ener) Tj ET Q q 0 0 0 rg BT 317.63 727.25 Td (gy commitment is dependent upon a number of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 713.45 Td (important external factors, some of which include a supportive regulatory environment, sales and customer ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 699.65 Td (growth, development of clean ener) Tj ET Q q 0 0 0 rg BT 209.27 699.65 Td (gy technologies and continued access to capital markets.) Tj ET Q BT /F5 11.50 Tf ET q 0 0 0 rg BT 49.50 672.05 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 672.05 Td (2050 Goal: 100% Clean, Carbon-Fr) Tj ET Q q 0 0 0 rg BT 254.05 672.05 Td (ee Electricity) Tj ET Q q 0 0 0 rg BT 314.40 672.05 Td (. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 323.02 672.05 Td (Achieving a fully clean, carbon-free ener) Tj ET Q q 0 0 0 rg BT 511.83 672.05 Td (gy mix by ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 658.25 Td (2050 is our aspiration. ) Tj ET Q q 0 0 0 rg BT 157.89 658.25 Td (The 2050 goal will involve new thinking and depends on improved and new ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 644.45 Td (technologies.) Tj ET Q BT /F5 11.50 Tf ET q 0 0 0 rg BT 85.50 616.85 Td (2030 Goal: 65% Clean Ener) Tj ET Q q 0 0 0 rg BT 217.31 616.85 Td (gy) Tj ET Q q 0 0 0 rg BT 227.53 616.85 Td (. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 236.15 616.85 Td (APS has an ener) Tj ET Q q 0 0 0 rg BT 311.64 616.85 Td (gy mix that is already 50% clean with existing plans ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 603.05 Td (to add more renewables and ener) Tj ET Q q 0 0 0 rg BT 200.96 603.05 Td (gy storage before 2025. By building on those plans, ) Tj ET Q q 0 0 0 rg BT 440.84 603.05 Td (APS intends to attain an ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 589.25 Td (ener) Tj ET Q q 0 0 0 rg BT 69.08 589.25 Td (gy mix that is 65% clean by 2030, with 45% of ) Tj ET Q q 0 0 0 rg BT 288.20 589.25 Td (APS's generation portfolio coming from renewable ener) Tj ET Q q 0 0 0 rg BT 545.55 589.25 Td (gy) Tj ET Q q 0 0 0 rg BT 556.30 589.25 Td (. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 575.45 Td (This tar) Tj ET Q q 0 0 0 rg BT 84.74 575.45 Td (get will serve as a checkpoint for our resource planning, investment strategy) Tj ET Q q 0 0 0 rg BT 434.64 575.45 Td (, and customer ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 561.65 Td (af) Tj ET Q q 0 0 0 rg BT 58.23 561.65 Td (fordability ef) Tj ET Q q 0 0 0 rg BT 118.37 561.65 Td (forts as ) Tj ET Q q 0 0 0 rg BT 154.15 561.65 Td (APS moves toward 100% clean, carbon-free ener) Tj ET Q q 0 0 0 rg BT 380.99 561.65 Td (gy mix by 2050.) Tj ET Q BT /F5 11.50 Tf ET q 0 0 0 rg BT 85.50 534.05 Td (2031 Goal: End ) Tj ET Q q 0 0 0 rg BT 162.27 534.05 Td (APS's Use of Coal-Fir) Tj ET Q q 0 0 0 rg BT 264.93 534.05 Td (ed Generation. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 339.66 534.05 Td (The commitment to end ) Tj ET Q q 0 0 0 rg BT 452.09 534.05 Td (APS's use of coal-fired ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 520.25 Td (generation by 2031 will require ) Tj ET Q q 0 0 0 rg BT 196.73 520.25 Td (APS to cease use of coal-generation at Four Corners. ) Tj ET Q q 0 0 0 rg BT 445.52 520.25 Td (APS has permanently ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 506.45 Td (retired more than 1,000 MW) Tj ET Q q 0 0 0 rg BT 181.19 506.45 Td ( of coal-fired electric generating capacity) Tj ET Q q 0 0 0 rg BT 369.76 506.45 Td (. ) Tj ET Q q 0 0 0 rg BT 375.30 506.45 Td (These closures and other measures ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 492.65 Td (taken by ) Tj ET Q q 0 0 0 rg BT 91.02 492.65 Td (APS have resulted in a total reduction of carbon emissions of 26% since 2005. In addition, ) Tj ET Q q 0 0 0 rg BT 510.06 492.65 Td (APS has ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 478.85 Td (committed to end the use of coal at its remaining Cholla units by 2025.) Tj ET Q BT /F5 11.50 Tf ET q 0 0 0 rg BT 85.50 451.25 Td (Renewables. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 149.05 451.25 Td ( ) Tj ET Q q 0 0 0 rg BT 151.30 451.25 Td (APS intends to strengthen its already diverse ener) Tj ET Q q 0 0 0 rg BT 380.08 451.25 Td (gy mix by increasing its investments in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 437.45 Td (carbon-free resources. Its near) Tj ET Q q 0 0 0 rg BT 188.47 437.45 Td (-term actions include competitive solicitations to procure clean ener) Tj ET Q q 0 0 0 rg BT 500.57 437.45 Td (gy resources ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 423.65 Td (such as solar) Tj ET Q q 0 0 0 rg BT 107.80 423.65 Td (, wind, ener) Tj ET Q q 0 0 0 rg BT 161.89 423.65 Td (gy storage, demand response and DSM resources, including ener) Tj ET Q q 0 0 0 rg BT 459.97 423.65 Td (gy ef) Tj ET Q q 0 0 0 rg BT 483.07 423.65 Td (ficiency ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 409.85 Td (resources that enable renewable additions and lead to a cleaner grid.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 376.05 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 376.05 Td (APS has a diverse portfolio of existing and planned renewable resources, including solar) Tj ET Q q 0 0 0 rg BT 492.87 376.05 Td (, wind, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 362.25 Td (geothermal, biomass and biogas. ) Tj ET Q q 0 0 0 rg BT 205.05 362.25 Td (APS's clean ener) Tj ET Q q 0 0 0 rg BT 282.28 362.25 Td (gy strategy includes executing purchased power contracts ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 348.45 Td (for new facilities, ongoing development of distributed ener) Tj ET Q q 0 0 0 rg BT 320.11 348.45 Td (gy resources and procurement of new facilities to be ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 334.65 Td (owned by ) Tj ET Q q 0 0 0 rg BT 96.78 334.65 Td (APS. ) Tj ET Q q 0 0 0 rg BT 126.29 334.65 Td (The following table summarizes the resources in ) Tj ET Q q 0 0 0 rg BT 352.08 334.65 Td (APS's renewable ener) Tj ET Q q 0 0 0 rg BT 452.30 334.65 Td (gy portfolio that are in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 320.85 Td (operation and under development as of March 31, 2020. ) Tj ET Q q 0 0 0 rg BT 312.66 320.85 Td (Agreements for the development and completion of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 307.05 Td (future resources are subject to various conditions, including successful siting, permitting and interconnection ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 293.25 Td (of the projects to the electric grid. ) Tj ET Q endstream endobj 141 0 obj <> endobj 142 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 30.55 Td (68) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 719.50 178.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 228.00 719.50 153.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 381.00 719.50 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.00 719.50 153.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 538.00 719.50 20.00 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f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.00 623.50 153.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 538.00 623.50 20.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 591.50 178.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 228.00 591.50 153.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 381.00 591.50 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.00 591.50 153.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 538.00 591.50 20.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 559.50 178.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 228.00 559.50 153.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 381.00 559.50 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.00 559.50 153.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 538.00 559.50 20.00 -16.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 228 719.5 m 381 719.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 381 719.5 m 385 719.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 385 719.5 m 538 719.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 538 719.5 m 558 719.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 228 703.5 m 381 703.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 381 703.5 m 385 703.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 385 703.5 m 538 703.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 538 703.5 m 558 703.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 228 591.5 m 381 591.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 381 591.5 m 385 591.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 385 591.5 m 538 591.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 538 591.5 m 558 591.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 228 559.5 m 381 559.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 381 559.5 m 385 559.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 385 559.5 m 538 559.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 538 559.5 m 558 559.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 228 544.5 m 381 544.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 228 542.5 m 381 542.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 381 544.5 m 385 544.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 381 542.5 m 385 542.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 385 544.5 m 538 544.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 385 542.5 m 538 542.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 538 544.5 m 558 544.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 538 542.5 m 558 542.5 l s BT /F2 10.50 Tf ET q 0 0 0 rg BT 52.50 724.29 Td () Tj ET Q BT /F2 10.50 Tf ET q 0 0 0 rg BT 244.60 734.79 Td (NetCapacityinOperation) Tj ET Q BT /F2 10.50 Tf ET q 0 0 0 rg BT 290.25 724.29 Td (\(MW\)) Tj ET Q BT /F2 10.50 Tf ET q 0 0 0 rg BT 393.70 734.79 Td (NetCapacityPlanned/Under) Tj ET Q BT /F2 10.50 Tf ET q 0 0 0 rg BT 416.50 724.29 Td (Development\(MW\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 708.53 Td (T) Tj ET Q q 0 0 0 rg BT 59.12 708.53 Td (otal ) Tj ET Q q 0 0 0 rg BT 78.52 708.53 Td (APS Owned: Solar) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 359.40 708.53 Td (243) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 522.15 708.53 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 692.53 Td (Purchased Power ) Tj ET Q q 0 0 0 rg BT 134.58 692.53 Td (Agreements:) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 377.50 692.53 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 534.50 692.53 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 58.50 676.53 Td (Solar) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 359.40 676.53 Td (310) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 522.15 676.53 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 58.50 660.53 Td (Solar + Ener) Tj ET Q q 0 0 0 rg BT 116.62 660.53 Td (gy Storage) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 365.15 660.53 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 522.15 660.53 Td (50) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 58.50 644.53 Td (W) Tj ET Q q 0 0 0 rg BT 69.12 644.53 Td (ind) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 359.40 644.53 Td (289) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 522.15 644.53 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 58.50 628.53 Td (Geothermal) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 365.15 628.53 Td (10) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 522.15 628.53 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 58.50 612.53 Td (Biomass) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 365.15 612.53 Td (14) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 522.15 612.53 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 58.50 596.53 Td (Biogas) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 370.90 596.53 Td (3) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 522.15 596.53 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 580.53 Td (T) Tj ET Q q 0 0 0 rg BT 59.12 580.53 Td (otal Purchased Power ) Tj ET Q q 0 0 0 rg BT 160.92 580.53 Td (Agreements) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 359.40 580.53 Td (626) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 522.15 580.53 Td (50) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 564.53 Td (T) Tj ET Q q 0 0 0 rg BT 59.12 564.53 Td (otal Distributed Ener) Tj ET Q q 0 0 0 rg BT 155.07 564.53 Td (gy: Solar \(a\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 359.40 564.53 Td (995) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 522.15 564.53 Td (37) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 541.05 564.53 Td (\(b\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 548.53 Td (T) Tj ET Q q 0 0 0 rg BT 58.72 548.53 Td (otal Renewable Portfolio) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 350.75 548.53 Td (1,864) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 522.15 548.53 Td (87) Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 516.40 Td (\(a\)) Tj ET Q BT /F1 3.00 Tf ET q 0 0 0 rg BT 98.26 516.40 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 104.26 516.40 Td ( Includes rooftop solar facilities owned by third parties. Distributed generation is produced in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 108.00 502.60 Td (Direct Current and is converted to ) Tj ET Q q 0 0 0 rg BT 267.04 502.60 Td (AC for reporting purposes.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 488.80 Td (\(b\) ) Tj ET Q q 0 0 0 rg BT 108.00 488.80 Td (Applications received by ) Tj ET Q q 0 0 0 rg BT 225.20 488.80 Td (APS that are not yet installed and online.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 461.20 Td (APS has developed and owns solar resources through the ) Tj ET Q q 0 0 0 rg BT 350.92 461.20 Td (ACC-approved ) Tj ET Q q 0 0 0 rg BT 423.42 461.20 Td (AZ Sun Program. ) Tj ET Q q 0 0 0 rg BT 509.99 461.20 Td (APS ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 447.40 Td (invested approximately $675 million in the ) Tj ET Q q 0 0 0 rg BT 250.09 447.40 Td (AZ Sun Program. ) Tj ET Q q 0 0 0 rg BT 339.53 447.40 Td (APS issued two Requests for Proposal \("RFP"\) ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 433.60 Td (in September 2019. ) Tj ET Q q 0 0 0 rg BT 141.92 433.60 Td (The first RFP) Tj ET Q q 0 0 0 rg BT 204.11 433.60 Td ( seeks competitive proposals for up to 150 MW) Tj ET Q q 0 0 0 rg BT 422.37 433.60 Td ( of ) Tj ET Q q 0 0 0 rg BT 437.06 433.60 Td (APS-owned solar ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 419.80 Td (resources to be in service by 2021. ) Tj ET Q q 0 0 0 rg BT 211.53 419.80 Td (This solar generation will be designed with the flexibility to add ener) Tj ET Q q 0 0 0 rg BT 529.09 419.80 Td (gy ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 406.00 Td (storage as a future option. ) Tj ET Q q 0 0 0 rg BT 170.86 406.00 Td (A) Tj ET Q q 0 0 0 rg BT 178.53 406.00 Td ( second RFP) Tj ET Q q 0 0 0 rg BT 236.25 406.00 Td ( requests up to 250 MW) Tj ET Q q 0 0 0 rg BT 346.88 406.00 Td ( of wind resources to be in service as soon as ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 392.20 Td (possible, but no later than 2022.) Tj ET Q BT /F5 11.50 Tf ET q 0 0 0 rg BT 85.50 364.60 Td (Palo V) Tj ET Q q 0 0 0 rg BT 115.85 364.60 Td (er) Tj ET Q q 0 0 0 rg BT 125.00 364.60 Td (de) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 135.85 364.60 Td (. Palo ) Tj ET Q q 0 0 0 rg BT 164.72 364.60 Td (V) Tj ET Q q 0 0 0 rg BT 171.75 364.60 Td (erde, the nation) Tj ET Q q 0 0 0 rg BT 246.15 364.60 Td (s lar) Tj ET Q q 0 0 0 rg BT 265.42 364.60 Td (gest carbon-free, clean ener) Tj ET Q q 0 0 0 rg BT 392.27 364.60 Td (gy resource, will continue to be a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 350.80 Td (foundational part of ) Tj ET Q q 0 0 0 rg BT 143.07 350.80 Td (APS's resource portfolio. ) Tj ET Q q 0 0 0 rg BT 261.21 350.80 Td (The plant supplies nearly 70% of our clean ener) Tj ET Q q 0 0 0 rg BT 481.34 350.80 Td (gy and provides ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 337.00 Td (the foundation for the reliable and af) Tj ET Q q 0 0 0 rg BT 217.89 337.00 Td (fordable service for ) Tj ET Q q 0 0 0 rg BT 310.17 337.00 Td (APS customers. Palo ) Tj ET Q q 0 0 0 rg BT 409.64 337.00 Td (V) Tj ET Q q 0 0 0 rg BT 416.67 337.00 Td (erde is not just the cornerstone ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 323.20 Td (of our current clean ener) Tj ET Q q 0 0 0 rg BT 162.31 323.20 Td (gy mix, it also is a significant provider of clean ener) Tj ET Q q 0 0 0 rg BT 401.94 323.20 Td (gy to the southwest United States. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 309.40 Td (The plant) Tj ET Q q 0 0 0 rg BT 96.44 309.40 Td (s continued operation is important to a carbon-free and clean ener) Tj ET Q q 0 0 0 rg BT 398.32 309.40 Td (gy future for ) Tj ET Q q 0 0 0 rg BT 458.67 309.40 Td (Arizona and the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 295.60 Td (region, as a reliable, continuous, af) Tj ET Q q 0 0 0 rg BT 210.24 295.60 Td (fordable resource and as a lar) Tj ET Q q 0 0 0 rg BT 345.09 295.60 Td (ge contributor to the local economy) Tj ET Q q 0 0 0 rg BT 508.17 295.60 Td (.) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 268.00 Td ( ) Tj ET Q BT /F2 11.50 Tf ET 0 0 0 RG /GS0 gs 1.09 w 0 i [] 0 d 1 J 1 j 3 M 85.5 266.2003173828125 m 139.16064453125 266.2003173828125 l s q 0 0 0 rg BT 85.50 268.00 Td (Affordable) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 240.40 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 240.40 Td (W) Tj ET Q q 0 0 0 rg BT 95.43 240.40 Td (e believe it is ) Tj ET Q q 0 0 0 rg BT 158.67 240.40 Td (APS's responsibility to deliver electric services to customers in the most cost-ef) Tj ET Q q 0 0 0 rg BT 524.32 240.40 Td (fective ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 226.60 Td (manner) Tj ET Q q 0 0 0 rg BT 83.35 226.60 Td (. Since January 2018, the average residential bill decreased by 7.8% or $1) Tj ET Q q 0 0 0 rg BT 422.38 226.60 Td (1.68.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 199.00 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 199.00 Td (Building upon existing cost management ef) Tj ET Q q 0 0 0 rg BT 285.55 199.00 Td (forts, ) Tj ET Q q 0 0 0 rg BT 311.75 199.00 Td (APS launched a customer af) Tj ET Q q 0 0 0 rg BT 441.84 199.00 Td (fordability initiative in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 185.20 Td (2019. ) Tj ET Q q 0 0 0 rg BT 78.04 185.20 Td (The initiative was implemented company-wide to thoughtfully and deliberately assess our business ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 171.40 Td (processes and or) Tj ET Q q 0 0 0 rg BT 125.30 171.40 Td (ganizational approaches to completing high-value work and internal ef) Tj ET Q q 0 0 0 rg BT 450.17 171.40 Td (ficiencies.) Tj ET Q q 0 0 0 rg BT 499.78 171.40 Td (Through the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 157.60 Td (initiative and existing cost management practices, ) Tj ET Q q 0 0 0 rg BT 281.04 157.60 Td (APS identified $20 million in possible cost savings for 2020. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 130.05 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 130.05 Td (Participation in the EIM continues to be an ef) Tj ET Q q 0 0 0 rg BT 294.80 130.05 Td (fective tool for creating savings for our customers from ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 116.25 Td (the real-time, voluntary market. Over the past three years, the EIM has delivered approximately $140 million ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 102.45 Td (in gross benefits to ) Tj ET Q q 0 0 0 rg BT 138.94 102.45 Td (APS customers. ) Tj ET Q q 0 0 0 rg BT 214.66 102.45 Td (APS is in discussions with the EIM operator) Tj ET Q q 0 0 0 rg BT 418.32 102.45 Td (, CAISO, and other EIM ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 88.65 Td (participants about the feasibility of creating a voluntary day-ahead market to achieve more cost savings and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 74.85 Td (use the region) Tj ET Q q 0 0 0 rg BT 117.20 74.85 Td (s renewable resources more ef) Tj ET Q q 0 0 0 rg BT 256.21 74.85 Td (ficiently) Tj ET Q q 0 0 0 rg BT 293.78 74.85 Td (.) Tj ET Q endstream endobj 143 0 obj <> endobj 144 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 30.55 Td (69) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 741.25 Td ( ) Tj ET Q BT /F2 11.50 Tf ET 0 0 0 RG /GS0 gs 1.09 w 0 i [] 0 d 1 J 1 j 3 M 85.5 739.4503173828125 m 125.74609375 739.4503173828125 l s q 0 0 0 rg BT 85.50 741.25 Td (Reliable) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 713.65 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 713.65 Td (While our ener) Tj ET Q q 0 0 0 rg BT 154.26 713.65 Td (gy mix evolves, the obligation to deliver reliable service to our customers remains. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 699.85 Td (Excluding voluntary outages and proactive fire mitigation ef) Tj ET Q q 0 0 0 rg BT 327.45 699.85 Td (forts, ) Tj ET Q q 0 0 0 rg BT 353.65 699.85 Td (APS finished 2019 with its best score for ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 686.05 Td (frequency of customer power outages.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 672.25 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 658.45 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 658.45 Td (Planned investments will support operating and maintaining the grid, updating technology) Tj ET Q q 0 0 0 rg BT 499.65 658.45 Td (, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 644.65 Td (accommodating customer growth and enabling more renewable ener) Tj ET Q q 0 0 0 rg BT 364.47 644.65 Td (gy resources. Our advanced distribution ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 630.85 Td (management system allows operators to locate outages, control line devices remotely and helps them ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 617.05 Td (coordinate more closely with field crews to safely maintain an increasingly dynamic grid. ) Tj ET Q q 0 0 0 rg BT 464.45 617.05 Td (The system also ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 603.25 Td (integrates a new meter data management system that increases grid visibility and gives customers access to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 589.45 Td (more of their ener) Tj ET Q q 0 0 0 rg BT 131.99 589.45 Td (gy usage data. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 561.85 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 561.85 Td (W) Tj ET Q q 0 0 0 rg BT 95.89 561.85 Td (ildfire safety remains a critical focus for ) Tj ET Q q 0 0 0 rg BT 282.70 561.85 Td (APS and other utilities. ) Tj ET Q q 0 0 0 rg BT 392.70 561.85 Td (W) Tj ET Q q 0 0 0 rg BT 402.63 561.85 Td (e increased investment in fire ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 548.05 Td (mitigation ef) Tj ET Q q 0 0 0 rg BT 108.38 548.05 Td (forts to clear defensible space around our infrastructure, build partnerships with government ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 534.25 Td (entities and first responders and educate customers and communities. ) Tj ET Q q 0 0 0 rg BT 370.57 534.25 Td (These programs contribute to customer ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 520.45 Td (reliability) Tj ET Q q 0 0 0 rg BT 93.46 520.45 Td (, responsible forest management and safe communities.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 492.85 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 492.85 Td (The new units at our modernized Ocotillo power plant provide cleaner) Tj ET Q q 0 0 0 rg BT 409.09 492.85 Td (-running and more ef) Tj ET Q q 0 0 0 rg BT 506.28 492.85 Td (ficient ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 479.05 Td (units. ) Tj ET Q q 0 0 0 rg BT 77.41 479.05 Td (They support reliability by responding quickly to the variability of solar generation, and delivering ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 465.25 Td (ener) Tj ET Q q 0 0 0 rg BT 69.08 465.25 Td (gy in the late afternoon and early evening, when solar production declines as the sun sets and customer ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 451.45 Td (demand peaks.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 423.85 Td ( ) Tj ET Q BT /F2 11.50 Tf ET 0 0 0 RG /GS0 gs 1.09 w 0 i [] 0 d 1 J 1 j 3 M 85.5 422.0503173828125 m 177.69921875 422.0503173828125 l s q 0 0 0 rg BT 85.50 423.85 Td (Customer) Tj ET Q q 0 0 0 rg BT 133.62 423.85 Td (-Focused) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 396.25 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 396.25 Td (Customers are at the core of what ) Tj ET Q q 0 0 0 rg BT 242.30 396.25 Td (APS does every day and ) Tj ET Q q 0 0 0 rg BT 356.96 396.25 Td (APS is committed to providing options that ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 382.45 Td (make it easier for its customers to do business with them. In 2019, ) Tj ET Q q 0 0 0 rg BT 356.45 382.45 Td (APS launched its redesigned aps.com ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 368.65 Td (website and mobile app, giving customers upgraded access to their ener) Tj ET Q q 0 0 0 rg BT 379.18 368.65 Td (gy usage data and billing information. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 354.85 Td (APS's Customer Care team is using speech analytics to enrich advisors) Tj ET Q q 0 0 0 rg BT 378.42 354.85 Td ( interactions with customers over the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 341.05 Td (telephone, and customers can also communicate with ) Tj ET Q q 0 0 0 rg BT 296.68 341.05 Td (APS through an online chat.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 313.45 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 313.45 Td (APS expanded financial help for its most vulnerable customers in 2019, allocating $2.75 million in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 299.65 Td (crisis bill assistance and increasing the individual benefit for qualifying customers from $400 to $800 per year) Tj ET Q q 0 0 0 rg BT 556.02 299.65 Td (. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 285.85 Td (The ) Tj ET Q q 0 0 0 rg BT 69.62 285.85 Td (APS Solar Communities program has allowed more than 600 limited- and moderate-income customers to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 272.05 Td (support clean ener) Tj ET Q q 0 0 0 rg BT 133.59 272.05 Td (gy and save money by hosting ) Tj ET Q q 0 0 0 rg BT 275.41 272.05 Td (APS-owned solar systems on their residences in exchange for ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 258.25 Td (a monthly bill credit.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 230.65 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 230.65 Td (APS continues to develop and deploy innovative programs that connect customers with advanced ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 216.85 Td (technologies to help them manage their bills and encourage ener) Tj ET Q q 0 0 0 rg BT 345.32 216.85 Td (gy use during midday) Tj ET Q q 0 0 0 rg BT 444.55 216.85 Td (, when solar power is ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 203.05 Td (most abundant. ) Tj ET Q q 0 0 0 rg BT 122.44 203.05 Td (Three ener) Tj ET Q q 0 0 0 rg BT 171.71 203.05 Td (gy storage programs incorporating smart thermostats, connected water heaters and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 189.25 Td (batteries are helping customers shift ener) Tj ET Q q 0 0 0 rg BT 238.02 189.25 Td (gy use to times when they can take advantage of low-cost, abundant ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 175.45 Td (ener) Tj ET Q q 0 0 0 rg BT 69.08 175.45 Td (gy and reduce peak demand on ) Tj ET Q q 0 0 0 rg BT 214.06 175.45 Td (APS's system.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 147.85 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 147.85 Td (In 2020, ) Tj ET Q q 0 0 0 rg BT 126.07 147.85 Td (APS is convening an advisory panel of customers to gain a deeper understanding of the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 134.05 Td (customer experience through their individual perspectives. ) Tj ET Q q 0 0 0 rg BT 321.27 134.05 Td (A) Tj ET Q q 0 0 0 rg BT 328.94 134.05 Td ( group of customer service advisors, in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 120.25 Td (conjunction with local human services agencies, will provide in-person customer support in communities ) Tj ET Q q 0 0 0 rg BT 535.60 120.25 Td (APS ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 106.45 Td (serves.) Tj ET Q endstream endobj 145 0 obj <> endobj 146 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 30.55 Td (70) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 741.25 Td (Emerging ) Tj ET Q q 0 0 0 rg BT 100.72 741.25 Td (T) Tj ET Q q 0 0 0 rg BT 107.33 741.25 Td (echnologies) Tj ET Q BT /F2 11.50 Tf ET 0 0 0 RG /GS0 gs 1.09 w 0 i [] 0 d 1 J 1 j 3 M 85.5 711.8503173828125 m 161.8349609375 711.8503173828125 l s q 0 0 0 rg BT 85.50 713.65 Td (Energy Storage) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 161.83 713.65 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 686.05 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 686.05 Td (APS deploys a number of advanced technologies on its system, including ener) Tj ET Q q 0 0 0 rg BT 445.56 686.05 Td (gy storage. Storage can ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 672.25 Td (provide capacity) Tj ET Q q 0 0 0 rg BT 125.07 672.25 Td (, improve power quality) Tj ET Q q 0 0 0 rg BT 234.82 672.25 Td (, be utilized for system regulation, integrate renewable generation, and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 658.45 Td (in certain circumstances, be used to defer certain traditional infrastructure investments. Ener) Tj ET Q q 0 0 0 rg BT 473.68 658.45 Td (gy storage can also ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 644.65 Td (aid in integrating higher levels of renewables by storing excess ener) Tj ET Q q 0 0 0 rg BT 361.61 644.65 Td (gy when system demand is low and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 630.85 Td (renewable production is high and then releasing the stored ener) Tj ET Q q 0 0 0 rg BT 340.21 630.85 Td (gy during peak demand hours later in the day ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 617.05 Td (and after sunset. ) Tj ET Q q 0 0 0 rg BT 126.78 617.05 Td (APS is utilizing grid-scale ener) Tj ET Q q 0 0 0 rg BT 270.30 617.05 Td (gy storage projects to benefit customers, to increase renewable ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 603.25 Td (utilization,and to further our understanding of how storage works with other advanced technologies and the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 589.45 Td (grid. ) Tj ET Q q 0 0 0 rg BT 73.57 589.45 Td (W) Tj ET Q q 0 0 0 rg BT 83.50 589.45 Td (e are preparing for additional ener) Tj ET Q q 0 0 0 rg BT 240.06 589.45 Td (gy storage in the future.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 561.85 Td (In early 2018, ) Tj ET Q q 0 0 0 rg BT 151.93 561.85 Td (APS entered into a 15-year power purchase agreement for a 65 MW) Tj ET Q q 0 0 0 rg BT 464.98 561.85 Td ( solar facility that ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 548.05 Td (char) Tj ET Q q 0 0 0 rg BT 69.08 548.05 Td (ges a 50 MW) Tj ET Q q 0 0 0 rg BT 130.51 548.05 Td ( solar) Tj ET Q q 0 0 0 rg BT 155.51 548.05 Td (-fueled battery) Tj ET Q q 0 0 0 rg BT 222.13 548.05 Td (. Service under this agreement is scheduled to begin in 2021. In 2018, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 534.25 Td (APS issued a request for proposal for approximately 106 MW) Tj ET Q q 0 0 0 rg BT 334.51 534.25 Td ( of ener) Tj ET Q q 0 0 0 rg BT 369.42 534.25 Td (gy storage to be located at up to five of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 520.45 Td (its ) Tj ET Q q 0 0 0 rg BT 62.61 520.45 Td (AZ Sun sites. Based upon our evaluation of the RFP) Tj ET Q q 0 0 0 rg BT 303.03 520.45 Td ( responses, ) Tj ET Q q 0 0 0 rg BT 355.73 520.45 Td (APS decided to expand the initial phase of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 506.65 Td (battery deployment to 141 MW) Tj ET Q q 0 0 0 rg BT 194.29 506.65 Td ( by adding a sixth ) Tj ET Q q 0 0 0 rg BT 278.30 506.65 Td (AZ Sun site. In February 2019, we contracted for the 141 ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 492.85 Td (MW) Tj ET Q q 0 0 0 rg BT 70.37 492.85 Td ( and originally anticipated such facilities could be in service by mid-2020. In ) Tj ET Q q 0 0 0 rg BT 426.15 492.85 Td (April 2019, a battery module ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 479.05 Td (in ) Tj ET Q q 0 0 0 rg BT 60.69 479.05 Td (APS) Tj ET Q q 0 0 0 rg BT 84.98 479.05 Td (s McMicken battery ener) Tj ET Q q 0 0 0 rg BT 200.05 479.05 Td (gy storage facility experienced an equipment failure, which prompted an ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 465.25 Td (internal investigation to determine the cause. ) Tj ET Q q 0 0 0 rg BT 258.47 465.25 Td (The results of the investigation will inform the timing of our ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 451.45 Td (utilization and implementation of batteries on our system. Due to the ) Tj ET Q q 0 0 0 rg BT 368.25 451.45 Td (April 2019 event, ) Tj ET Q q 0 0 0 rg BT 451.29 451.45 Td (APS is working with ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 437.65 Td (the counterparty for the ) Tj ET Q q 0 0 0 rg BT 159.99 437.65 Td (AZ Sun sites to determine appropriate timing and path forward for such facilities. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 423.85 Td (Additionally) Tj ET Q q 0 0 0 rg BT 106.89 423.85 Td (, in February 2019, ) Tj ET Q q 0 0 0 rg BT 196.96 423.85 Td (APS signed two 20-year power purchase agreements for ener) Tj ET Q q 0 0 0 rg BT 478.42 423.85 Td (gy storage ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 410.05 Td (totaling 150 MW) Tj ET Q q 0 0 0 rg BT 127.66 410.05 Td (. Service under these power purchase agreements is also dependent on the results of the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 396.25 Td (McMicken battery incident investigation and requires approval from the ) Tj ET Q q 0 0 0 rg BT 383.87 396.25 Td (ACC to allow for recovery of these ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 382.45 Td (agreements through the PSA. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 354.85 Td (W) Tj ET Q q 0 0 0 rg BT 95.43 354.85 Td (e currently plan to install at least 850 MW) Tj ET Q q 0 0 0 rg BT 289.40 354.85 Td ( of ener) Tj ET Q q 0 0 0 rg BT 324.31 354.85 Td (gy storage by 2025, including the 150 MW) Tj ET Q q 0 0 0 rg BT 522.13 354.85 Td ( of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 341.05 Td (ener) Tj ET Q q 0 0 0 rg BT 69.08 341.05 Td (gy storage projects under power purchase agreements described above. ) Tj ET Q q 0 0 0 rg BT 401.29 341.05 Td (The additional 700 MW) Tj ET Q q 0 0 0 rg BT 511.91 341.05 Td ( of ) Tj ET Q q 0 0 0 rg BT 526.60 341.05 Td (APS-) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 327.25 Td (owned ener) Tj ET Q q 0 0 0 rg BT 102.62 327.25 Td (gy storage is expected to be made up of the retrofits associated with our ) Tj ET Q q 0 0 0 rg BT 434.75 327.25 Td (AZ Sun sites as described ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 313.45 Td (above, along with current and future RFPs for ener) Tj ET Q q 0 0 0 rg BT 283.38 313.45 Td (gy storage and solar plus ener) Tj ET Q q 0 0 0 rg BT 420.18 313.45 Td (gy storage projects. Given the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 299.65 Td (April 2019 event, we continue to evaluate the appropriate timing and path forward to support the overall ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 285.85 Td (capacity goals for our system and associated ener) Tj ET Q q 0 0 0 rg BT 276.34 285.85 Td (gy storage requirements. Currently) Tj ET Q q 0 0 0 rg BT 438.79 285.85 Td (, ) Tj ET Q q 0 0 0 rg BT 443.90 285.85 Td (APS is pursuing an RFP) Tj ET Q q 0 0 0 rg BT 555.31 285.85 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 272.05 Td (for battery-ready solar resources up to 150 MW) Tj ET Q q 0 0 0 rg BT 268.68 272.05 Td ( with results expected in the first half of 2020.) Tj ET Q BT /F2 11.50 Tf ET 0 0 0 RG /GS0 gs 1.09 w 0 i [] 0 d 1 J 1 j 3 M 85.5 242.65031738281255 m 166.30126953125 242.65031738281255 l s q 0 0 0 rg BT 85.50 244.45 Td (Electric ) Tj ET Q q 0 0 0 rg BT 126.48 244.45 Td (V) Tj ET Q q 0 0 0 rg BT 133.73 244.45 Td (ehicles) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 166.30 244.45 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 216.85 Td (APS plans to make electric vehicle char) Tj ET Q q 0 0 0 rg BT 268.59 216.85 Td (ging more accessible for its customers and help ) Tj ET Q q 0 0 0 rg BT 488.96 216.85 Td (Arizona ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 203.05 Td (businesses, schools and governments electrify their fleets. In 2019, ) Tj ET Q q 0 0 0 rg BT 362.18 203.05 Td (APS implemented its ) Tj ET Q q 0 0 0 rg BT 462.60 203.05 Td (T) Tj ET Q q 0 0 0 rg BT 468.82 203.05 Td (ake Char) Tj ET Q q 0 0 0 rg BT 509.80 203.05 Td (ge ) Tj ET Q q 0 0 0 rg BT 522.89 203.05 Td (AZ ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 189.25 Td (Pilot Program. ) Tj ET Q q 0 0 0 rg BT 119.25 189.25 Td (The program provides char) Tj ET Q q 0 0 0 rg BT 243.90 189.25 Td (ging equipment, installation, and maintenance to business ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 175.45 Td (customers, government agencies, and multifamily housing communities. Rates are designed to encourage ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 161.65 Td (char) Tj ET Q q 0 0 0 rg BT 69.08 161.65 Td (ging overnight and during daytime of) Tj ET Q q 0 0 0 rg BT 241.02 161.65 Td (f-peak hours when solar ener) Tj ET Q q 0 0 0 rg BT 374.29 161.65 Td (gy is abundant. ) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 134.05 Td ( ) Tj ET Q BT /F2 11.50 Tf ET 0 0 0 RG /GS0 gs 1.09 w 0 i [] 0 d 1 J 1 j 3 M 85.5 132.25031738281245 m 194.97705078125 132.25031738281245 l s q 0 0 0 rg BT 85.50 134.05 Td (Hydr) Tj ET Q q 0 0 0 rg BT 111.49 134.05 Td (ogen ) Tj ET Q q 0 0 0 rg BT 137.36 134.05 Td (Pr) Tj ET Q q 0 0 0 rg BT 149.28 134.05 Td (oduction ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 110.25 Td (Palo ) Tj ET Q q 0 0 0 rg BT 108.61 110.25 Td (V) Tj ET Q q 0 0 0 rg BT 115.64 110.25 Td (erde, in partnership with Idaho National Laboratory and two other utilities, has been chosen by ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 96.45 Td (the DOE's Of) Tj ET Q q 0 0 0 rg BT 111.41 96.45 Td (fice of Nuclear Ener) Tj ET Q q 0 0 0 rg BT 204.74 96.45 Td (gy to participate in a hydrogen production project with the goal to improve ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 82.65 Td (the long-term economic competitiveness of the nuclear power industry) Tj ET Q q 0 0 0 rg BT 373.86 82.65 Td (. ) Tj ET Q q 0 0 0 rg BT 379.40 82.65 Td (The project, planned for 2020 through ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 68.85 Td (2022, will look at how hydrogen produced from Palo ) Tj ET Q q 0 0 0 rg BT 296.51 68.85 Td (V) Tj ET Q q 0 0 0 rg BT 303.54 68.85 Td (erde ener) Tj ET Q q 0 0 0 rg BT 345.78 68.85 Td (gy may be used as ener) Tj ET Q q 0 0 0 rg BT 452.55 68.85 Td (gy storage for use in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 55.05 Td (reverse-operable electrolysis or peaking gas turbines during times of the day when photovoltaic solar ener) Tj ET Q q 0 0 0 rg BT 536.62 55.05 Td (gy ) Tj ET Q endstream endobj 147 0 obj <> endobj 148 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 30.55 Td (71) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 741.05 Td (sources are unavailable and ener) Tj ET Q q 0 0 0 rg BT 198.72 741.05 Td (gy reserves in the southwest United States are low) Tj ET Q q 0 0 0 rg BT 429.20 741.05 Td (. It could also be used to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 727.25 Td (support a rapidly increasing hydrogen transportation fuel market.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 699.65 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 699.65 Td (Experience from the pilot project will of) Tj ET Q q 0 0 0 rg BT 271.15 699.65 Td (fer insights into methods for flexible transitions between ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 685.85 Td (electricity and hydrogen generation missions in solar) Tj ET Q q 0 0 0 rg BT 292.63 685.85 Td (-dominated electricity markets, and demonstrate how ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 672.05 Td (hydrogen may be used as ener) Tj ET Q q 0 0 0 rg BT 188.20 672.05 Td (gy storage to provide electricity during operating periods when solar is not ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 658.25 Td (available.) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 630.65 Td ( ) Tj ET Q BT /F2 11.50 Tf ET 0 0 0 RG /GS0 gs 1.09 w 0 i [] 0 d 1 J 1 j 3 M 85.5 628.8503173828125 m 166.75439453125 628.8503173828125 l s q 0 0 0 rg BT 85.50 630.65 Td (Carbon Captur) Tj ET Q q 0 0 0 rg BT 161.65 630.65 Td (e) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 603.05 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 603.05 Td (Carbon capture technologies can isolate CO) Tj ET Q BT /F1 11.50 Tf ET BT /F1 7.47 Tf ET q 0 0 0 rg BT 287.65 601.40 Td (2) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 291.39 603.05 Td ( and either sequester it permanently in geologic ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 589.25 Td (formations or convert it for use in products. Currently) Tj ET Q q 0 0 0 rg BT 299.15 589.25 Td (, almost all existing fossil fuel generators do not control ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 575.45 Td (carbon emissions the way they control emissions of other air pollutants such as sulfur dioxide or oxides of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 561.65 Td (nitrogen. Carbon capture technologies are still in the demonstration phase and while they show promise, they ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 547.85 Td (are still being tested in real-world conditions. ) Tj ET Q q 0 0 0 rg BT 260.72 547.85 Td (These technologies could of) Tj ET Q q 0 0 0 rg BT 389.85 547.85 Td (fer the potential to keep in operation ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 534.05 Td (existing generators that otherwise would need to be retired. ) Tj ET Q q 0 0 0 rg BT 324.15 534.05 Td (APS will continue to monitor this emer) Tj ET Q q 0 0 0 rg BT 504.74 534.05 Td (ging ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 520.25 Td (technology) Tj ET Q q 0 0 0 rg BT 99.85 520.25 Td (.) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 492.65 Td (Regulatory Overview) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 465.05 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 465.05 Td (On October 31, 2019, ) Tj ET Q q 0 0 0 rg BT 187.71 465.05 Td (APS filed an application with the ) Tj ET Q q 0 0 0 rg BT 342.94 465.05 Td (ACC for an annual increase in retail base rates ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 451.25 Td (of$69 million. ) Tj ET Q q 0 0 0 rg BT 123.72 451.25 Td (This amount includes recovery of the deferral and rate base ef) Tj ET Q q 0 0 0 rg BT 408.34 451.25 Td (fects of the Four Corners SCR ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 437.45 Td (project that is currently the subject of a separate proceeding \(see SCR Cost Recovery in Note 4\). It also ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 423.65 Td (reflects a net credit to base rates of approximately $1) Tj ET Q q 0 0 0 rg BT 292.71 423.65 Td (15 million primarily due to the prospective inclusion of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 409.85 Td (rate refunds currently provided through the ) Tj ET Q q 0 0 0 rg BT 250.48 409.85 Td (TEAM. ) Tj ET Q q 0 0 0 rg BT 291.48 409.85 Td (The proposed total revenue increase in ) Tj ET Q q 0 0 0 rg BT 471.58 409.85 Td (APS's application ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 396.05 Td (is $184 million. ) Tj ET Q q 0 0 0 rg BT 127.56 396.05 Td (The average annual customer bill impact of ) Tj ET Q q 0 0 0 rg BT 329.70 396.05 Td (APS) Tj ET Q q 0 0 0 rg BT 353.99 396.05 Td (s request is an increase of 5.6%\(the average ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 382.25 Td (annual bill impact for a typical ) Tj ET Q q 0 0 0 rg BT 193.21 382.25 Td (APS residential customer is 5.4%\).) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 354.65 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 354.65 Td (The principal provisions of ) Tj ET Q q 0 0 0 rg BT 212.62 354.65 Td (APS's application are:) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 327.05 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 327.05 Td (a test year comprised of twelve months ended June 30, 2019, adjusted as described below;) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 313.25 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 313.25 Td (an original cost rate base of$8.87 billion, which approximates the ) Tj ET Q q 0 0 0 rg BT 409.78 313.25 Td (ACC-jurisdictional portion of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 299.45 Td (the book value of utility assets, net of accumulated depreciation and other credits;) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 285.65 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 285.65 Td (the following proposed capital structure and costs of capital:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 91.75 261.15 233.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 324.75 261.15 16.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 340.75 261.15 97.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 437.75 261.15 16.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 453.75 261.15 85.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 538.75 261.15 16.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 91.75 231.15 233.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 324.75 231.15 16.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 340.75 231.15 97.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 437.75 231.15 16.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 453.75 231.15 85.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 538.75 231.15 16.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 340.75 261.15 m 437.75 261.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 453.75 261.15 m 538.75 261.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 340.75 261.15 m 437.75 261.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 453.75 261.15 m 538.75 261.15 l s BT /F2 11.50 Tf ET q 0 0 0 rg BT 94.25 264.86 Td () Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 332.25 264.86 Td () Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 345.55 264.86 Td (CapitalStructur) Tj ET Q q 0 0 0 rg BT 426.90 264.86 Td (e) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 445.25 264.86 Td () Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 458.65 264.86 Td (CostofCapital) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 546.25 264.86 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 94.25 250.68 Td (Long-term debt) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 327.25 250.68 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 413.25 250.68 Td (45.3) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 440.25 250.68 Td (%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 515.10 250.68 Td (4.10) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 541.25 250.68 Td (%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 94.25 235.68 Td (Common stock equity) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 327.25 235.68 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 413.25 235.68 Td (54.7) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 440.25 235.68 Td (%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 508.50 235.68 Td (10.15) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 541.25 235.68 Td (%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 94.25 220.68 Td (W) Tj ET Q q 0 0 0 rg BT 104.18 220.68 Td (eighted-average cost of capital) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 327.25 220.68 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 434.25 220.68 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 440.25 220.68 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 514.25 220.68 Td (7.41) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 541.25 220.68 Td (%) Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 202.85 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 189.05 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 189.05 Td (a1%return on the increment of fair value rate base above ) Tj ET Q q 0 0 0 rg BT 372.36 189.05 Td (APS) Tj ET Q q 0 0 0 rg BT 396.65 189.05 Td (s original cost rate base, as ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 175.25 Td (provided for by ) Tj ET Q q 0 0 0 rg BT 177.28 175.25 Td (Arizona law;) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 161.45 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 161.45 Td (authorization to defer until ) Tj ET Q q 0 0 0 rg BT 228.69 161.45 Td (APS's next general rate case the increase or decrease in its ) Tj ET Q q 0 0 0 rg BT 498.67 161.45 Td (Arizona ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 147.65 Td (property taxes attributable to tax rate changes after the date the rate application is adjudicated;) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 133.85 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 133.85 Td (a number of proposed rate and program changes for residential customers, including:) Tj ET Q BT /F1 11.50 Tf ET /GS0 gs q 4.79 0 0 11.46 121.50 117.57 cm /I33 Do Q q 0 0 0 rg BT 126.29 120.05 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 139.50 120.05 Td (a super of) Tj ET Q q 0 0 0 rg BT 184.64 120.05 Td (f-peak period during the winter months for ) Tj ET Q q 0 0 0 rg BT 383.60 120.05 Td (APS) Tj ET Q q 0 0 0 rg BT 407.90 120.05 Td (s time-of-use with demand rates;) Tj ET Q BT /F1 11.50 Tf ET /GS0 gs q 4.79 0 0 11.46 121.50 103.77 cm /I34 Do Q q 0 0 0 rg BT 126.29 106.25 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 139.50 106.25 Td (additional $1.25 million in funding for ) Tj ET Q q 0 0 0 rg BT 319.34 106.25 Td (APS's limited-income crisis bill program; and) Tj ET Q BT /F1 11.50 Tf ET /GS0 gs q 4.79 0 0 11.46 121.50 89.97 cm /I35 Do Q q 0 0 0 rg BT 126.29 92.45 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 139.50 92.45 Td (a flat bill/subscription rate pilot program; ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 78.65 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 78.65 Td (proposed rate design changes for commercial customers, including an experimental program ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 64.85 Td (designed to provide access to market pricing for up to 200 MW) Tj ET Q q 0 0 0 rg BT 394.87 64.85 Td ( of medium and lar) Tj ET Q q 0 0 0 rg BT 482.17 64.85 Td (ge commercial ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 51.05 Td (customers;) Tj ET Q endstream endobj 149 0 obj <> endobj 150 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 30.55 Td (72) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 741.05 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 741.05 Td (recovery of the deferral and rate base ef) Tj ET Q q 0 0 0 rg BT 286.22 741.05 Td (fects of the construction and operating costs of the Ocotillo ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 727.25 Td (modernization project \(see Note 4 discussion of the 2017 Settlement ) Tj ET Q q 0 0 0 rg BT 420.33 727.25 Td (Agreement\); and) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 713.45 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 713.45 Td (continued recovery of the remaining investment and other costs related to the retirement and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 699.65 Td (closure of the Navajo Plant \(see Note 4 for details related to the resulting regulatory asset\).) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 672.05 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 672.05 Td (APS requested that the increase become ef) Tj ET Q q 0 0 0 rg BT 281.36 672.05 Td (fective December 1, 2020. ) Tj ET Q q 0 0 0 rg BT 408.56 672.05 Td (The hearing for this rate case ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 658.25 Td (was delayed by 75 days, at the request of ) Tj ET Q q 0 0 0 rg BT 240.48 658.25 Td (ACC Staf) Tj ET Q q 0 0 0 rg BT 285.32 658.25 Td (f, and is currently scheduled to begin September 30, 2020. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 644.45 Td (APS cannot predict the outcome of its request.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 616.85 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 616.85 Td (See Note 4 for information regarding additional regulatory matters.) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 589.25 Td (Financial Str) Tj ET Q q 0 0 0 rg BT 113.50 589.25 Td (ength and Flexibility) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 215.10 589.25 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 561.65 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 561.65 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 127.77 561.65 Td (W) Tj ET Q q 0 0 0 rg BT 137.70 561.65 Td (est and ) Tj ET Q q 0 0 0 rg BT 172.20 561.65 Td (APS currently have ample borrowing capacity under their respective credit ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 547.85 Td (facilities, and may readily access these facilities ensuring adequate liquidity for each company) Tj ET Q q 0 0 0 rg BT 482.72 547.85 Td (. Capital ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 534.05 Td (expenditures will be funded with internally generated cash and external financings, which may include ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 520.25 Td (issuances of long-term debt and Pinnacle ) Tj ET Q q 0 0 0 rg BT 240.91 520.25 Td (W) Tj ET Q q 0 0 0 rg BT 250.85 520.25 Td (est common stock.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 506.45 Td () Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 492.65 Td (Other) Tj ET Q q 0 0 0 rg BT 78.67 492.65 Td ( Subsidiaries) Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 49.50 465.05 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 465.05 Td (Bright Canyon Energy) Tj ET Q BT /F5 11.50 Tf ET q 0 0 0 rg BT 193.50 465.05 Td (. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 202.13 465.05 Td (On July31, 2014, Pinnacle ) Tj ET Q q 0 0 0 rg BT 329.37 465.05 Td (W) Tj ET Q q 0 0 0 rg BT 339.30 465.05 Td (est announced its creation of a wholly-owned ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 451.25 Td (subsidiary) Tj ET Q q 0 0 0 rg BT 96.03 451.25 Td (, BCE. BCE's strategy is to develop, own, operate and acquire ener) Tj ET Q q 0 0 0 rg BT 406.40 451.25 Td (gy infrastructure in a manner that ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 437.45 Td (leverages the Company) Tj ET Q q 0 0 0 rg BT 160.63 437.45 Td (s core expertise in the electric ener) Tj ET Q q 0 0 0 rg BT 320.07 437.45 Td (gy industry) Tj ET Q q 0 0 0 rg BT 371.39 437.45 Td (. In 2014, BCE formed a 50/50 joint ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 423.65 Td (venture with BHE U.S. ) Tj ET Q q 0 0 0 rg BT 159.17 423.65 Td (T) Tj ET Q q 0 0 0 rg BT 165.79 423.65 Td (ransmission LLC, a subsidiary of Berkshire Hathaway Ener) Tj ET Q q 0 0 0 rg BT 440.25 423.65 Td (gy Company) Tj ET Q q 0 0 0 rg BT 498.60 423.65 Td (. ) Tj ET Q q 0 0 0 rg BT 507.02 423.65 Td (The joint ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 409.85 Td (venture, named ) Tj ET Q q 0 0 0 rg BT 123.06 409.85 Td (T) Tj ET Q q 0 0 0 rg BT 129.68 409.85 Td (ransCanyon, is pursuing independent transmission opportunities within the eleven states that ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 396.05 Td (comprise the ) Tj ET Q q 0 0 0 rg BT 111.25 396.05 Td (W) Tj ET Q q 0 0 0 rg BT 121.18 396.05 Td (estern Electricity Coordinating Council, excluding opportunities related to transmission service ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 382.25 Td (that would otherwise be provided under the tarif) Tj ET Q q 0 0 0 rg BT 271.25 382.25 Td (fs of the retail service territories of the venture partners) Tj ET Q q 0 0 0 rg BT 528.08 382.25 Td ( utility ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 368.45 Td (af) Tj ET Q q 0 0 0 rg BT 58.23 368.45 Td (filiates.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 340.85 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 340.85 Td (On December 20, 2019, BCE acquired minority ownership positions in two wind farms under ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 327.05 Td (development by ) Tj ET Q q 0 0 0 rg BT 125.94 327.05 Td (T) Tj ET Q q 0 0 0 rg BT 132.16 327.05 Td (enaska, the 242 MW) Tj ET Q q 0 0 0 rg BT 227.12 327.05 Td ( Clear Creek wind farm in Missouri and the 250 MW) Tj ET Q q 0 0 0 rg BT 471.57 327.05 Td ( Nobles 2 wind ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 313.25 Td (farm in Minnesota. Both wind farms are expected to achieve commercial operation in 2020 and deliver power ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 299.45 Td (under long-term power purchase agreements. BCE indirectly owns 9.9% of the Clear Creek project and 5.1% ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 285.65 Td (of the Nobles 2 project.) Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 49.50 258.05 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 258.05 Td (El Dorado) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 135.02 258.05 Td (.) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 137.90 258.05 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 143.65 258.05 Td (El Dorado is a wholly-owned subsidiary of Pinnacle ) Tj ET Q q 0 0 0 rg BT 386.81 258.05 Td (W) Tj ET Q q 0 0 0 rg BT 396.75 258.05 Td (est. El Dorado owns debt ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 244.25 Td (investments and minority interests in several ener) Tj ET Q q 0 0 0 rg BT 277.32 244.25 Td (gy-related investments and ) Tj ET Q q 0 0 0 rg BT 403.47 244.25 Td (Arizona community-based ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 230.45 Td (ventures. El Dorado committed to a $25 million investment in the Ener) Tj ET Q q 0 0 0 rg BT 379.22 230.45 Td (gy Impact Partners fund, which is an ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 216.65 Td (or) Tj ET Q q 0 0 0 rg BT 58.87 216.65 Td (ganization that focuses on fostering innovation and supporting the transformation of the utility industry) Tj ET Q q 0 0 0 rg BT 533.06 216.65 Td (. ) Tj ET Q q 0 0 0 rg BT 541.48 216.65 Td (The ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 202.85 Td (investment will be made by El Dorado as investments are selected by the Ener) Tj ET Q q 0 0 0 rg BT 409.85 202.85 Td (gy Impact Partners fund.) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 175.25 Td (Key Financial Drivers) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 161.45 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 147.65 Td (In addition to the continuing impact of the matters described above, many factors influence our ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 133.85 Td (financial results and our future financial outlook, including those listed below) Tj ET Q q 0 0 0 rg BT 406.13 133.85 Td (. ) Tj ET Q q 0 0 0 rg BT 414.55 133.85 Td (W) Tj ET Q q 0 0 0 rg BT 424.48 133.85 Td (e closely monitor these ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 120.05 Td (factors to plan for the Company) Tj ET Q q 0 0 0 rg BT 199.28 120.05 Td (s current needs, and to adjust our expectations, financial budgets and forecasts ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 106.25 Td (appropriately) Tj ET Q q 0 0 0 rg BT 110.06 106.25 Td (.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 92.45 Td () Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 85.50 78.65 Td (Electric Operating Revenues.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 224.45 78.65 Td ( For the years 2017 through 2019, retail electric revenues comprised ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 64.85 Td (approximately 95% of our total operating revenues. Our electric operating revenues are af) Tj ET Q q 0 0 0 rg BT 465.68 64.85 Td (fected by customer ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 51.05 Td (growth or decline, variations in weather from period to period, customer mix, average usage per customer and ) Tj ET Q endstream endobj 151 0 obj <> endobj 152 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 30.55 Td (73) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 741.05 Td (the impacts of ener) Tj ET Q q 0 0 0 rg BT 137.11 741.05 Td (gy ef) Tj ET Q q 0 0 0 rg BT 160.21 741.05 Td (ficiency programs, distributed ener) Tj ET Q q 0 0 0 rg BT 320.95 741.05 Td (gy additions, electricity rates and tarif) Tj ET Q q 0 0 0 rg BT 495.10 741.05 Td (fs, the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 727.25 Td (recovery of PSA) Tj ET Q q 0 0 0 rg BT 125.51 727.25 Td ( deferrals and the operation of other recovery mechanisms. ) Tj ET Q q 0 0 0 rg BT 401.52 727.25 Td (These revenue transactions are ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 713.45 Td (af) Tj ET Q q 0 0 0 rg BT 58.23 713.45 Td (fected by the availability of excess generation or other ener) Tj ET Q q 0 0 0 rg BT 330.39 713.45 Td (gy resources and wholesale market conditions, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 699.65 Td (including competition, demand and prices.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 685.85 Td () Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 85.50 672.05 Td (Actual and Projected Customer and Sales Growth. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 329.91 672.05 Td (Retail customers in ) Tj ET Q q 0 0 0 rg BT 420.94 672.05 Td (APS) Tj ET Q q 0 0 0 rg BT 445.23 672.05 Td (s service territory ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 658.25 Td (increased 2.2% for the three-month period ended March 31, 2020 compared with the prior) Tj ET Q q 0 0 0 rg BT 464.10 658.25 Td (-year period. For the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 644.45 Td (three years 2017 through 2019, ) Tj ET Q q 0 0 0 rg BT 195.14 644.45 Td (APS) Tj ET Q q 0 0 0 rg BT 219.43 644.45 Td (s customer growth averaged 1.8% per year) Tj ET Q q 0 0 0 rg BT 415.18 644.45 Td (. ) Tj ET Q q 0 0 0 rg BT 423.60 644.45 Td (W) Tj ET Q q 0 0 0 rg BT 433.53 644.45 Td (e currently project annual ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 630.65 Td (customer growth to be 1.5 - 2.5% for 2020 and for 2020 through 2022 based on our assessment of steady ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 616.85 Td (population growth in ) Tj ET Q q 0 0 0 rg BT 148.21 616.85 Td (Arizona.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 603.05 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 589.25 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 589.25 Td (Retail electricity sales in kWh, adjusted to exclude the ef) Tj ET Q q 0 0 0 rg BT 347.15 589.25 Td (fects of weather variations, increased 0.8% for ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 575.45 Td (the three-month period ended March 31, 2020 compared with the prior) Tj ET Q q 0 0 0 rg BT 374.69 575.45 Td (-year period. Steady economic growth ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 561.65 Td (and customer growth were of) Tj ET Q q 0 0 0 rg BT 184.06 561.65 Td (fset by ener) Tj ET Q q 0 0 0 rg BT 237.49 561.65 Td (gy savings driven by customer conservation, ener) Tj ET Q q 0 0 0 rg BT 464.99 561.65 Td (gy ef) Tj ET Q q 0 0 0 rg BT 488.09 561.65 Td (ficiency) Tj ET Q q 0 0 0 rg BT 524.38 561.65 Td (, and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 547.85 Td (distributed renewable generation initiatives. For the three years 2017 through 2019, annual retail electricity ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 534.05 Td (sales were about flat, adjusted to exclude the ef) Tj ET Q q 0 0 0 rg BT 266.75 534.05 Td (fects of weather variations. ) Tj ET Q q 0 0 0 rg BT 396.83 534.05 Td (W) Tj ET Q q 0 0 0 rg BT 406.76 534.05 Td (e currently project that annual ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 520.25 Td (retail electricity sales in kWh will increase in the range of 1.0 - 2.0% for 2020 and increase on average in the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 506.45 Td (range of 1.0 - 2.0% during 2020 through 2022, including the ef) Tj ET Q q 0 0 0 rg BT 339.29 506.45 Td (fects of customer conservation, ener) Tj ET Q q 0 0 0 rg BT 505.45 506.45 Td (gy ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 492.65 Td (ef) Tj ET Q q 0 0 0 rg BT 58.23 492.65 Td (ficiency and distributed renewable generation initiatives, but excluding the ef) Tj ET Q q 0 0 0 rg BT 413.77 492.65 Td (fects of weather variations and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 478.85 Td (the impacts of several new lar) Tj ET Q q 0 0 0 rg BT 186.92 478.85 Td (ge data centers opening operations in Metro Phoenix. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 451.25 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 451.25 Td (Although it is still too early to predict, if the impacts of COVID-19 we experienced from March 13th ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 437.45 Td (through ) Tj ET Q q 0 0 0 rg BT 87.52 437.45 Td (April 30th continue through the end of the second quarter) Tj ET Q q 0 0 0 rg BT 351.81 437.45 Td (, we would anticipate a net 7% decrease in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 423.65 Td (weather normalized retail electricity sales compared to the second quarter 2019. ) Tj ET Q q 0 0 0 rg BT 422.58 423.65 Td (The impact of new lar) Tj ET Q q 0 0 0 rg BT 523.91 423.65 Td (ge data ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 409.85 Td (centers could raise the range of expected annual sales growth rate over the 2020 to 2022 period, but demand ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 396.05 Td (from these customers remains uncertain at this time. ) Tj ET Q q 0 0 0 rg BT 292.33 396.05 Td (These estimates could be further impacted by slower than ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 382.25 Td (expected growth of the ) Tj ET Q q 0 0 0 rg BT 157.44 382.25 Td (Arizona economy or acceleration of the expected ef) Tj ET Q q 0 0 0 rg BT 395.10 382.25 Td (fects of customer conservation, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 368.45 Td (ener) Tj ET Q q 0 0 0 rg BT 69.08 368.45 Td (gy ef) Tj ET Q q 0 0 0 rg BT 92.18 368.45 Td (ficiency) Tj ET Q q 0 0 0 rg BT 128.47 368.45 Td (, distributed renewable generation initiatives, or customer and sales growth not resuming and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 354.65 Td (the economy not normalizing in 2020 after COVID-19.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 340.85 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 327.05 Td ( ) Tj ET Q q 0 0 0 rg BT 94.87 327.05 Td (Actual sales growth, excluding weather) Tj ET Q q 0 0 0 rg BT 276.34 327.05 Td (-related variations, may dif) Tj ET Q q 0 0 0 rg BT 400.67 327.05 Td (fer from our projections as a result ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 313.25 Td (of numerous factors, such as economic conditions, customer growth, usage patterns and ener) Tj ET Q q 0 0 0 rg BT 475.64 313.25 Td (gy conservation, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 299.45 Td (impacts of ener) Tj ET Q q 0 0 0 rg BT 120.18 299.45 Td (gy ef) Tj ET Q q 0 0 0 rg BT 143.28 299.45 Td (ficiency programs and growth in distributed generation, and responses to retail price ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 285.65 Td (changes. Based on past experience, a 1% variation in our kWh sales projections attributable to such economic ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 271.85 Td (factors under normal business conditions can result in increases or decreases in annual net income of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 258.05 Td (approximately $20 million.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 244.25 Td () Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 49.50 230.45 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 230.45 Td (W) Tj ET Q q 0 0 0 rg BT 94.87 230.45 Td (eather) Tj ET Q q 0 0 0 rg BT 124.26 230.45 Td (.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 127.14 230.45 Td ( In forecasting the retail sales growth numbers provided above, we assume normal weather ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 216.65 Td (patterns based on historical data. Historically) Tj ET Q q 0 0 0 rg BT 259.21 216.65 Td (, extreme weather variations have resulted in annual variations in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 202.85 Td (net income in excess of $25 million. However) Tj ET Q q 0 0 0 rg BT 263.98 202.85 Td (, our experience indicates that the more typical variations from ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 189.05 Td (normal weather can result in increases or decreases in annual net income of up to $15 million.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 175.25 Td () Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 85.50 161.45 Td (Fuel and Purchased Power Costs.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 246.21 161.45 Td (Fuel and purchased power costs included on our Condensed ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 147.65 Td (Consolidated Statements of Income are impacted by our electricity sales volumes, existing contracts for ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 133.85 Td (purchased power and generation fuel, our power plant performance, transmission availability or constraints, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 120.05 Td (prevailing market prices, new generating plants being placed in service in our market areas, changes in our ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 106.25 Td (generation resource allocation, our hedging program for managing such costs and PSA) Tj ET Q q 0 0 0 rg BT 448.07 106.25 Td ( deferrals and the related ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 92.45 Td (amortization.) Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 85.50 64.85 Td (Operations and Maintenance Expenses) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 271.76 64.85 Td (.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 277.51 64.85 Td (Operations and maintenance expenses are impacted by ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 51.05 Td (customer and sales growth, power plant operations, maintenance of utility plant \(including generation, ) Tj ET Q endstream endobj 153 0 obj <> endobj 154 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 30.55 Td (74) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 741.05 Td (transmission, and distribution facilities\), inflation, unplanned outages, planned outages \(typically scheduled in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 727.25 Td (the spring and fall\), renewable ener) Tj ET Q q 0 0 0 rg BT 212.14 727.25 Td (gy and demand side management related expenses \(which are of) Tj ET Q q 0 0 0 rg BT 507.94 727.25 Td (fset by the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 713.45 Td (same amount of operating revenues\) and other factors.) Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 85.50 685.85 Td (Depreciation and ) Tj ET Q q 0 0 0 rg BT 170.05 685.85 Td (Amortization Expenses.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 282.52 685.85 Td ( Depreciation and amortization expenses are impacted by ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 672.05 Td (net additions to utility plant and other property \(such as new generation, transmission, and distribution ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 658.25 Td (facilities\), and changes in depreciation and amortization rates. See "Liquidity and Capital Resources" below ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 644.45 Td (for information regarding the planned additions to our facilities.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 630.65 Td () Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 49.50 616.85 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 616.85 Td (Property T) Tj ET Q q 0 0 0 rg BT 135.22 616.85 Td (axes.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 159.18 616.85 Td ( ) Tj ET Q q 0 0 0 rg BT 164.72 616.85 Td (T) Tj ET Q q 0 0 0 rg BT 170.94 616.85 Td (axes other than income taxes consist primarily of property taxes, which are af) Tj ET Q q 0 0 0 rg BT 527.44 616.85 Td (fected ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 603.05 Td (by the value of property in-service and under construction, assessment ratios, and tax rates. ) Tj ET Q q 0 0 0 rg BT 474.03 603.05 Td (The average ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 589.25 Td (property tax rate in ) Tj ET Q q 0 0 0 rg BT 139.55 589.25 Td (Arizona for ) Tj ET Q q 0 0 0 rg BT 195.12 589.25 Td (APS, which owns essentially all of our property) Tj ET Q q 0 0 0 rg BT 414.76 589.25 Td (, was 10.9% of the assessed ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 575.45 Td (value for 2019, 1) Tj ET Q q 0 0 0 rg BT 127.64 575.45 Td (1.0% for 2018 and 1) Tj ET Q q 0 0 0 rg BT 221.43 575.45 Td (1.2% for 2017. ) Tj ET Q q 0 0 0 rg BT 295.96 575.45 Td (W) Tj ET Q q 0 0 0 rg BT 305.89 575.45 Td (e expect property taxes to increase as we add new ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 561.65 Td (generating units and continue with improvements and expansions to our existing generating units and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 547.85 Td (transmission and distribution facilities.) Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 49.50 520.25 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 520.25 Td (Pension and other postretirement non-service credits - net) Tj ET Q BT /F5 11.50 Tf ET q 0 0 0 rg BT 359.91 520.25 Td (.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 362.78 520.25 Td ( Pension and other postretirement non-) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 506.45 Td (service credits can be impacted by changes in our actuarial assumptions. ) Tj ET Q q 0 0 0 rg BT 388.11 506.45 Td (The most relevant actuarial ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 492.65 Td (assumptions are the discount rate used to measure our net periodic costs/credit, the expected long-term rate of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 478.85 Td (return on plan assets used to estimate earnings on invested funds over the long-term, the mortality assumptions ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 465.05 Td (and the assumed healthcare cost trend rates. ) Tj ET Q q 0 0 0 rg BT 256.53 465.05 Td (W) Tj ET Q q 0 0 0 rg BT 266.47 465.05 Td (e review these assumptions on an annual basis and adjust them ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 451.25 Td (as necessary) Tj ET Q q 0 0 0 rg BT 105.91 451.25 Td (. ) Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 85.50 423.65 Td (Interest Expense.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 167.92 423.65 Td ( Interest expense is af) Tj ET Q q 0 0 0 rg BT 270.22 423.65 Td (fected by the amount of debt outstanding and the interest rates ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 409.85 Td (on that debt \(see Note 3\). ) Tj ET Q q 0 0 0 rg BT 171.29 409.85 Td (The primary factors af) Tj ET Q q 0 0 0 rg BT 274.21 409.85 Td (fecting borrowing levels are expected to be our capital ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 396.05 Td (expenditures, long-term debt maturities, equity issuances and internally generated cash flow) Tj ET Q q 0 0 0 rg BT 472.21 396.05 Td (. ) Tj ET Q q 0 0 0 rg BT 480.21 396.05 Td (An allowance for ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 382.25 Td (borrowed funds used during construction of) Tj ET Q q 0 0 0 rg BT 250.83 382.25 Td (fsets a portion of interest expense while capital projects are under ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 368.45 Td (construction. ) Tj ET Q q 0 0 0 rg BT 114.77 368.45 Td (W) Tj ET Q q 0 0 0 rg BT 124.70 368.45 Td (e stop accruing ) Tj ET Q q 0 0 0 rg BT 196.56 368.45 Td (AFUDC on a project when it is placed in commercial operation.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 354.65 Td () Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 85.50 340.85 Td (Income T) Tj ET Q q 0 0 0 rg BT 130.12 340.85 Td (axes) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 151.20 340.85 Td (.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 154.08 340.85 Td ( Income taxes are af) Tj ET Q q 0 0 0 rg BT 249.33 340.85 Td (fected by the amount of pretax book income, income tax rates, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 327.05 Td (certain deductions and non-taxable items, such as ) Tj ET Q q 0 0 0 rg BT 279.44 327.05 Td (AFUDC. In addition, income taxes may also be af) Tj ET Q q 0 0 0 rg BT 512.70 327.05 Td (fected by ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 313.25 Td (the settlement of issues with taxing authorities. On December 22, 2017, the ) Tj ET Q q 0 0 0 rg BT 401.25 313.25 Td (T) Tj ET Q q 0 0 0 rg BT 407.48 313.25 Td (ax ) Tj ET Q q 0 0 0 rg BT 420.57 313.25 Td (Act was enacted and was ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 299.45 Td (generally ef) Tj ET Q q 0 0 0 rg BT 103.89 299.45 Td (fective on January 1, 2018. Changes impacting the Company include a reduction in the corporate ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 285.65 Td (tax rate to 21%, revisions to the rules related to tax bonus depreciation, limitations on interest deductibility and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 271.85 Td (an associated exception for certain public utilities, and requirements that certain excess deferred tax amounts ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 258.05 Td (of regulated utilities be normalized. \(See Note 15 for details of the impacts on the Company as of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 503.00 258.05 Td (March31, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 244.25 Td (2020) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 72.50 244.25 Td (.\) In ) Tj ET Q q 0 0 0 rg BT 96.77 244.25 Td (APS's 2017 rate case decision, the ) Tj ET Q q 0 0 0 rg BT 256.31 244.25 Td (ACC approved a ) Tj ET Q q 0 0 0 rg BT 336.27 244.25 Td (T) Tj ET Q q 0 0 0 rg BT 342.49 244.25 Td (ax Expense ) Tj ET Q q 0 0 0 rg BT 397.42 244.25 Td (Adjustor Mechanism which will be ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 230.45 Td (used to pass through the income tax ef) Tj ET Q q 0 0 0 rg BT 225.91 230.45 Td (fects to retail customers of the ) Tj ET Q q 0 0 0 rg BT 367.49 230.45 Td (T) Tj ET Q q 0 0 0 rg BT 373.71 230.45 Td (ax ) Tj ET Q q 0 0 0 rg BT 386.81 230.45 Td (Act. \(See Note 4 for details of the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 216.65 Td (TEAM.\)) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 230.35 189.05 Td ( RESUL) Tj ET Q q 0 0 0 rg BT 270.52 189.05 Td (TS OF) Tj ET Q q 0 0 0 rg BT 303.00 189.05 Td ( OPERA) Tj ET Q q 0 0 0 rg BT 345.27 189.05 Td (TIONS) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 161.45 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 127.77 161.45 Td (W) Tj ET Q q 0 0 0 rg BT 137.70 161.45 Td (est) Tj ET Q q 0 0 0 rg BT 153.67 161.45 Td (s only reportable business segment is our regulated electricity segment, which consists ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 147.65 Td (of traditional regulated retail and wholesale electricity businesses \(primarily sales supplied under traditional ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 133.85 Td (cost based rate regulation\) and related activities and includes electricity generation, transmission and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 120.05 Td (distribution.) Tj ET Q endstream endobj 155 0 obj <> endobj 156 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 30.55 Td (75) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 741.25 Td (Operating Results) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 138.63 741.25 Td ( ) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 155.88 741.25 Td (Thr) Tj ET Q q 0 0 0 rg BT 174.84 741.25 Td (ee-month period ended ) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 290.80 741.25 Td (Mar) Tj ET Q q 0 0 0 rg BT 312.30 741.25 Td (ch31, 2020) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 366.93 741.25 Td ( compar) Tj ET Q q 0 0 0 rg BT 407.28 741.25 Td (ed with thr) Tj ET Q q 0 0 0 rg BT 461.38 741.25 Td (ee-month period ) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 727.45 Td (ended ) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 81.77 727.45 Td (Mar) Tj ET Q q 0 0 0 rg BT 103.27 727.45 Td (ch31, 2019) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 157.90 727.45 Td (.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 699.85 Td (Our consolidated net income attributable to common shareholders for the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 425.30 699.85 Td (three months ended March ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 686.05 Td (31, 2020) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 89.75 686.05 Td ( was ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 113.39 686.05 Td ($30 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 166.74 686.05 Td (, compared with consolidated net income attributable to common shareholders of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 542.30 686.05 Td ($18 ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 672.25 Td (million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 82.73 672.25 Td ( for the prior) Tj ET Q q 0 0 0 rg BT 140.94 672.25 Td (-year period. ) Tj ET Q q 0 0 0 rg BT 205.23 672.25 Td (The results reflect an increase of approximately ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 427.15 672.25 Td ($12 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 480.50 672.25 Td ( for the regulated ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 658.45 Td (electricity segment primarily due to lower operations and maintenance expense, higher pension and other ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 644.65 Td (postretirement non-service credits and lower income tax expense due to amortization of excess deferred taxes ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 630.85 Td (as a result of the ) Tj ET Q q 0 0 0 rg BT 127.53 630.85 Td (T) Tj ET Q q 0 0 0 rg BT 133.75 630.85 Td (ax ) Tj ET Q q 0 0 0 rg BT 146.85 630.85 Td (Act, partially of) Tj ET Q q 0 0 0 rg BT 219.77 630.85 Td (fset by lower revenue due to the refunds provided to customers resulting ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 617.05 Td (from the ) Tj ET Q q 0 0 0 rg BT 91.45 617.05 Td (T) Tj ET Q q 0 0 0 rg BT 97.67 617.05 Td (ax ) Tj ET Q q 0 0 0 rg BT 110.76 617.05 Td (Act and milder weather) Tj ET Q q 0 0 0 rg BT 218.38 617.05 Td (. COVID-19 did not have a material impact on our results of operations ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 603.25 Td (for the period ended March 31, 2020, but we will continue to monitor its impact on our results of operations.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 575.65 Td (The following table presents net income attributable to common shareholders by business segment ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 561.85 Td (compared with the prior) Tj ET Q q 0 0 0 rg BT 160.08 561.85 Td (-year period:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 481.55 309.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 481.55 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 481.55 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 481.55 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 481.55 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 481.55 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 449.55 309.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 449.55 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 449.55 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 449.55 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 449.55 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 449.55 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 417.55 309.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 417.55 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 417.55 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 417.55 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 417.55 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 417.55 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 385.55 309.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 385.55 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 385.55 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 385.55 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 385.55 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 385.55 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 342.55 309.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 342.55 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 342.55 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 342.55 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 342.55 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 342.55 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 310.55 309.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 310.55 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 310.55 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 310.55 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 310.55 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 310.55 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 278.55 309.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 278.55 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 278.55 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 278.55 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 278.55 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 278.55 65.00 -16.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 511.54999999999995 m 424 511.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424 511.54999999999995 m 428 511.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 511.54999999999995 m 493 511.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 511.54999999999995 m 424 511.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 496.54999999999995 m 424 496.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 511.54999999999995 m 493 511.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 496.54999999999995 m 493 496.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 496.54999999999995 m 562 496.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 310.54999999999995 m 424 310.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 310.54999999999995 m 493 310.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 310.54999999999995 m 424 310.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 310.54999999999995 m 493 310.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 310.54999999999995 m 562 310.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 278.54999999999995 m 424 278.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 278.54999999999995 m 493 278.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 278.54999999999995 m 562 278.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 278.54999999999995 m 424 278.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 263.54999999999995 m 424 263.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 261.54999999999995 m 424 261.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 278.54999999999995 m 493 278.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 263.54999999999995 m 493 263.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 261.54999999999995 m 493 261.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 278.54999999999995 m 562 278.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 263.54999999999995 m 562 263.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 261.54999999999995 m 562 261.54999999999995 l s BT /F2 11.00 Tf ET q 0 0 0 rg BT 52.50 516.45 Td () Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 375.45 527.45 Td (Thr) Tj ET Q q 0 0 0 rg BT 393.69 527.45 Td (ee Months Ended) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 401.45 516.45 Td (Mar) Tj ET Q q 0 0 0 rg BT 422.12 516.45 Td (ch 31,) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 529.00 516.56 Td () Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 52.50 501.45 Td () Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 380.00 501.45 Td (2020) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 449.00 501.45 Td (2019) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 501.30 501.45 Td (NetChange) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 52.50 486.45 Td () Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 414.15 486.45 Td (\(dollarsinmillions\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 471.08 Td (Regulated Electricity Segment:) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 420.50 470.58 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 489.50 470.58 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 558.50 470.58 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 455.08 Td (Operating revenues less fuel and purchased power expenses) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 361.50 454.58 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 402.40 454.58 Td (472) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 430.50 454.58 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 471.40 454.58 Td (509) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 499.50 454.58 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 542.30 454.63 Td (\(37) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 557.65 454.58 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 439.08 Td (Operations and maintenance) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 398.55 438.63 Td (\(221) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 419.65 438.58 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 467.55 438.63 Td (\(245) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 488.65 438.58 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 546.15 438.58 Td (24) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 423.08 Td (Depreciation and amortization) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 398.55 422.63 Td (\(154) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 419.65 422.58 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 467.55 422.63 Td (\(149) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 488.65 422.58 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 548.05 422.63 Td (\(5) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 557.65 422.58 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 407.08 Td (T) Tj ET Q q 0 0 0 rg BT 59.12 407.08 Td (axes other than income taxes) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 404.30 406.63 Td (\(57) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 419.65 406.58 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 473.30 406.63 Td (\(55) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 488.65 406.58 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 548.05 406.63 Td (\(2) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 557.65 406.58 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 391.08 Td (Pension and other postretirement non-service credits - net) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 408.15 390.58 Td (14) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 482.90 390.58 Td (5) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 551.90 390.58 Td (9) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 375.08 Td (All other income and expenses, net) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 408.15 374.58 Td (16) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 477.15 374.58 Td (14) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 551.90 374.58 Td (2) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 359.08 Td (Interest char) Tj ET Q q 0 0 0 rg BT 109.44 359.08 Td (ges, net of allowance for borrowed funds used during) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 66.00 347.58 Td (construction) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 404.30 347.63 Td (\(55) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 419.65 347.58 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 473.30 347.63 Td (\(54) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 488.65 347.58 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 548.05 347.63 Td (\(1) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 557.65 347.58 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 332.08 Td (Income taxes) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 408.15 331.58 Td (20) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 479.05 331.63 Td (\(2) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 488.65 331.58 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 546.15 331.58 Td (22) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 316.08 Td (Less income related to noncontrolling interests \(Note 6\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 410.05 315.63 Td (\(5) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 419.65 315.58 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 479.05 315.63 Td (\(5) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 488.65 315.58 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 546.15 315.58 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 67.50 300.08 Td (Regulated electricity segment income) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 408.15 299.58 Td (30) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 477.15 299.58 Td (18) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 546.15 299.58 Td (12) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 284.08 Td (All other) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 408.15 283.58 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 477.15 283.58 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 546.15 283.58 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 268.08 Td (Net Income ) Tj ET Q q 0 0 0 rg BT 108.70 268.08 Td (Attributable to Common Shareholders) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 361.50 267.58 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 408.15 267.58 Td (30) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 430.50 267.58 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 477.15 267.58 Td (18) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 499.50 267.58 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 546.15 267.58 Td (12) Tj ET Q BT /F1 11.50 Tf ET endstream endobj 157 0 obj <> endobj 158 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 30.55 Td (76) Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 85.50 741.25 Td (Operating revenues less fuel and purchased power expenses.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 372.37 741.25 Td ( Regulated electricity segment operating ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 727.45 Td (revenues less fuel and purchased power expenses were ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 304.32 727.45 Td ($37 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 357.67 727.45 Td ( lower for the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 422.81 727.45 Td (three months ended March ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 713.65 Td (31, 2020) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 89.75 713.65 Td ( compared with the prior) Tj ET Q q 0 0 0 rg BT 203.21 713.65 Td (-year period. ) Tj ET Q q 0 0 0 rg BT 267.50 713.65 Td (The following table summarizes the major components of this ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 699.85 Td (change:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.25 572.55 270.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 319.25 572.55 77.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 396.25 572.55 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 400.25 572.55 78.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 478.25 572.55 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.25 572.55 79.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.25 529.55 270.00 -39.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 319.25 529.55 77.00 -39.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 396.25 529.55 4.00 -39.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 400.25 529.55 78.00 -39.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 478.25 529.55 4.00 -39.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.25 529.55 79.00 -39.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.25 451.55 270.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 319.25 451.55 77.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 396.25 451.55 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 400.25 451.55 78.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 478.25 451.55 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.25 451.55 79.00 -16.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 319.25 660.55 m 396.25 660.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 396.25 660.55 m 400.25 660.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 400.25 660.55 m 478.25 660.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 478.25 660.55 m 482.25 660.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 482.25 660.55 m 561.25 660.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 319.25 603.55 m 396.25 603.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 400.25 660.55 m 478.25 660.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 400.25 603.55 m 478.25 603.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 482.25 660.55 m 561.25 660.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 482.25 603.55 m 561.25 603.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 319.25 603.55 m 396.25 603.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 400.25 603.55 m 478.25 603.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 482.25 603.55 m 561.25 603.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 319.25 435.55 m 396.25 435.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 400.25 435.55 m 478.25 435.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 482.25 435.55 m 561.25 435.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 319.25 435.55 m 396.25 435.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 319.25 420.55 m 396.25 420.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 319.25 418.55 m 396.25 418.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 400.25 435.55 m 478.25 435.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 400.25 420.55 m 478.25 420.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 400.25 418.55 m 478.25 418.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 482.25 435.55 m 561.25 435.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 482.25 420.55 m 561.25 420.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 482.25 418.55 m 561.25 418.55 l s BT /F2 11.00 Tf ET q 0 0 0 rg BT 51.75 665.45 Td () Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 393.95 665.45 Td (Incr) Tj ET Q q 0 0 0 rg BT 414.01 665.45 Td (ease\(Decr) Tj ET Q q 0 0 0 rg BT 462.36 665.45 Td (ease\)) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 51.75 608.45 Td () Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 330.90 620.67 Td (Operating) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 334.65 608.67 Td (r) Tj ET Q q 0 0 0 rg BT 339.76 608.67 Td (evenues) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 416.20 644.67 Td (Fueland) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 412.15 632.67 Td (pur) Tj ET Q q 0 0 0 rg BT 430.61 632.67 Td (chased) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 422.85 620.67 Td (power) Tj ET Q q 0 0 0 rg BT 454.63 620.67 Td ( ) Tj ET Q BT /F2 12.00 Tf ET q 0 0 0 rg BT 416.40 608.67 Td (expenses) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 493.90 608.56 Td (Netchange) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 393.90 593.45 Td (\(dollarsinmillions\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 51.75 577.58 Td (Amortization of excess deferred taxes \(Note 4\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 321.75 577.58 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 376.55 577.63 Td (\(23) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 391.90 577.58 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 402.75 577.58 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 462.40 577.58 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 484.75 577.58 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 541.55 577.63 Td (\(23) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 556.90 577.58 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 51.75 561.58 Td (Ef) Tj ET Q q 0 0 0 rg BT 62.50 561.58 Td (fects of weather) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 376.55 561.63 Td (\(17) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 391.90 561.58 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 464.30 561.63 Td (\(5) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 473.90 561.58 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 541.55 561.63 Td (\(12) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 556.90 561.58 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 51.75 546.08 Td (Lower renewable ener) Tj ET Q q 0 0 0 rg BT 154.45 546.08 Td (gy regulatory surchar) Tj ET Q q 0 0 0 rg BT 252.59 546.08 Td (ges, partially) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 65.25 534.58 Td (of) Tj ET Q q 0 0 0 rg BT 74.73 534.58 Td (fset by operations and maintenance costs) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 382.30 534.63 Td (\(4) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 391.90 534.58 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 468.15 534.58 Td (1) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 547.30 534.63 Td (\(5) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 556.90 534.58 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 51.75 518.58 Td (Changes in net fuel and purchased power costs,) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 65.25 507.08 Td (including of) Tj ET Q q 0 0 0 rg BT 121.04 507.08 Td (f-system sales mar) Tj ET Q q 0 0 0 rg BT 206.42 507.08 Td (gins and related) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 65.25 495.58 Td (deferrals) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 376.55 495.63 Td (\(35) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 391.90 495.58 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 458.55 495.63 Td (\(38) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 473.90 495.58 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 551.15 495.58 Td (3) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 51.75 479.58 Td (Higher retail revenue due to higher customer growth,) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 65.25 468.08 Td (of) Tj ET Q q 0 0 0 rg BT 74.62 468.08 Td (fset by the impacts of ener) Tj ET Q q 0 0 0 rg BT 196.08 468.08 Td (gy ef) Tj ET Q q 0 0 0 rg BT 219.18 468.08 Td (ficiency) Tj ET Q q 0 0 0 rg BT 255.47 468.08 Td (, distributed) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 65.25 456.58 Td (generation and changes in customer usage patterns) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 386.15 456.58 Td (2) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 468.15 456.58 Td (2) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 545.40 456.58 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 51.75 440.58 Td (Miscellaneous items, net) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 382.30 440.63 Td (\(2) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 391.90 440.58 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 464.30 440.63 Td (\(2) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 473.90 440.58 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 545.40 440.58 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 51.75 424.58 Td (T) Tj ET Q q 0 0 0 rg BT 57.97 424.58 Td (otal) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 321.75 424.58 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 376.55 424.63 Td (\(79) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 391.90 424.58 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 402.75 424.58 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 458.55 424.63 Td (\(42) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 473.90 424.58 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 484.75 424.58 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 541.55 424.63 Td (\(37) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 556.90 424.58 Td (\)) Tj ET Q BT /F1 11.50 Tf ET BT /F4 11.50 Tf ET q 0 0 0 rg BT 85.50 392.45 Td (Operations and maintenance) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 222.88 392.45 Td (. Operations and maintenance expenses decreased ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 457.90 392.45 Td ($24 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 511.25 392.45 Td ( for the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 378.65 Td (three months ended March 31, 2020) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 215.57 378.65 Td ( compared with the prior) Tj ET Q q 0 0 0 rg BT 329.03 378.65 Td (-year period primarily because of: ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 351.05 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 351.05 Td (A) Tj ET Q q 0 0 0 rg BT 111.17 351.05 Td ( decrease of $10 million in fossil generation costs primarily due to lower planned outages and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 337.25 Td (lower operating costs due to the Navajo plant closure \(see Note 4\); ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 309.65 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 309.65 Td (A) Tj ET Q q 0 0 0 rg BT 111.17 309.65 Td ( decrease of $6 million primarily related to costs for renewable ener) Tj ET Q q 0 0 0 rg BT 422.94 309.65 Td (gy and similar regulatory ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 295.85 Td (programs, which are partially of) Tj ET Q q 0 0 0 rg BT 251.15 295.85 Td (fset in operating revenues and purchased power; ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 268.25 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 268.25 Td (A) Tj ET Q q 0 0 0 rg BT 111.17 268.25 Td ( decrease of $3 million in nuclear generation costs; ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 240.65 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 240.65 Td (A) Tj ET Q q 0 0 0 rg BT 111.17 240.65 Td ( decrease of $3 million related to employee benefit costs; and) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 213.05 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 213.05 Td (A) Tj ET Q q 0 0 0 rg BT 111.17 213.05 Td ( decrease of $2 million for other miscellaneous factors.) Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 49.50 185.45 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 185.45 Td (Depreciation and amortization. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 239.17 185.45 Td (Depreciation and amortization expenses were ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 451.52 185.45 Td ($5 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 499.12 185.45 Td ( higher for ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 171.65 Td (the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 66.42 171.65 Td (three months ended March 31, 2020) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 232.50 171.65 Td ( compared to the prior) Tj ET Q q 0 0 0 rg BT 334.46 171.65 Td (-year period primarily due to increased plant in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 157.85 Td (service of $13 million, partially of) Tj ET Q q 0 0 0 rg BT 207.06 157.85 Td (fset by the regulatory deferrals for the Ocotillo modernization project and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 144.05 Td (the Four Corners SCR project of $8 million.) Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 49.50 116.45 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 116.45 Td (Pension and other postretirement non-service credits, net. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 364.71 116.45 Td (Pension and other postretirement non-) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 102.65 Td (service credits, net were ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 163.49 102.65 Td ($9 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 211.09 102.65 Td ( higher for the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 279.43 102.65 Td (three months ended March 31, 2020) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 445.50 102.65 Td ( compared to the prior) Tj ET Q q 0 0 0 rg BT 547.46 102.65 Td (-) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 88.85 Td (year period primarily due to higher market returns in 2019.) Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 49.50 61.25 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 61.25 Td (Income taxes.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 151.30 61.25 Td ( Income taxes were ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 246.13 61.25 Td ($22 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 299.49 61.25 Td ( lower for the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 364.63 61.25 Td (three months ended March 31, 2020) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 530.70 61.25 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 47.45 Td (compared with the prior) Tj ET Q q 0 0 0 rg BT 160.08 47.45 Td (-year period primarily due to amortization of excess deferred taxes \(see Note 15\).) Tj ET Q endstream endobj 159 0 obj <> endobj 160 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 30.55 Td (77) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 197.90 713.45 Td (LIQUIDITY) Tj ET Q q 0 0 0 rg BT 260.10 713.45 Td ( ) Tj ET Q q 0 0 0 rg BT 262.34 713.45 Td (AND CAPIT) Tj ET Q q 0 0 0 rg BT 325.06 713.45 Td (AL) Tj ET Q q 0 0 0 rg BT 340.40 713.45 Td ( RESOURCES) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 305.75 699.65 Td () Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 685.85 Td (Overview) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 672.05 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 658.25 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 127.77 658.25 Td (W) Tj ET Q q 0 0 0 rg BT 137.70 658.25 Td (est) Tj ET Q q 0 0 0 rg BT 153.67 658.25 Td (s primary cash needs are for dividends to our shareholders and principal and interest ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 644.45 Td (payments on our indebtedness. ) Tj ET Q q 0 0 0 rg BT 196.85 644.45 Td (The level of our common stock dividends and future dividend growth will be ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 630.65 Td (dependent on declaration by our Board of Directors and based on a number of factors, including our financial ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 616.85 Td (condition, payout ratio, free cash flow and other factors.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 603.05 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 589.25 Td (Our primary sources of cash are dividends from ) Tj ET Q q 0 0 0 rg BT 307.77 589.25 Td (APS and external debt and equity issuances. ) Tj ET Q q 0 0 0 rg BT 516.33 589.25 Td (An ) Tj ET Q q 0 0 0 rg BT 532.63 589.25 Td (ACC ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 575.45 Td (order requires ) Tj ET Q q 0 0 0 rg BT 115.92 575.45 Td (APS to maintain a common equity ratio of at least ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 349.08 575.45 Td (40%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 370.15 575.45 Td (. ) Tj ET Q q 0 0 0 rg BT 378.15 575.45 Td (As defined in the related ) Tj ET Q q 0 0 0 rg BT 493.43 575.45 Td (ACC order) Tj ET Q q 0 0 0 rg BT 543.75 575.45 Td (, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 561.65 Td (the common equity ratio is defined as total shareholder equity divided by the sum of total shareholder equity ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 547.85 Td (and long-term debt, including current maturities of long-term debt. ) Tj ET Q q 0 0 0 rg BT 361.84 547.85 Td (At ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 376.22 547.85 Td (March31, 2020) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 449.36 547.85 Td (, ) Tj ET Q q 0 0 0 rg BT 454.47 547.85 Td (APS) Tj ET Q q 0 0 0 rg BT 478.77 547.85 Td (s common equity ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 534.05 Td (ratio, as defined, was ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 149.77 534.05 Td (53%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 170.85 534.05 Td (. Its total shareholder equity was approximately ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 395.37 534.05 Td ($5.9 billion) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 448.40 534.05 Td (, and total capitalization ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 520.25 Td (was approximately ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 139.56 520.25 Td ($1) Tj ET Q q 0 0 0 rg BT 150.63 520.25 Td (1.1 billion) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 197.91 520.25 Td (. Under this order) Tj ET Q q 0 0 0 rg BT 281.45 520.25 Td (, ) Tj ET Q q 0 0 0 rg BT 286.56 520.25 Td (APS would be prohibited from paying dividends if such ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 506.45 Td (payment would reduce its total shareholder equity below approximately ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 382.59 506.45 Td ($4.4 billion) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 435.62 506.45 Td (, assuming ) Tj ET Q q 0 0 0 rg BT 487.06 506.45 Td (APS) Tj ET Q q 0 0 0 rg BT 511.35 506.45 Td (s total ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 492.65 Td (capitalization remains the same. ) Tj ET Q q 0 0 0 rg BT 202.57 492.65 Td (This restriction does not materially af) Tj ET Q q 0 0 0 rg BT 375.14 492.65 Td (fect Pinnacle ) Tj ET Q q 0 0 0 rg BT 437.52 492.65 Td (W) Tj ET Q q 0 0 0 rg BT 447.45 492.65 Td (est) Tj ET Q q 0 0 0 rg BT 463.42 492.65 Td (s ability to meet its ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 478.85 Td (ongoing cash needs or ability to pay dividends to shareholders.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 465.05 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 451.25 Td (APS) Tj ET Q q 0 0 0 rg BT 109.79 451.25 Td (s capital requirements consist primarily of capital expenditures and maturities of long-term debt. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 437.45 Td (APS funds its capital requirements with cash from operations and, to the extent necessary) Tj ET Q q 0 0 0 rg BT 460.74 437.45 Td (, external debt ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 423.65 Td (financing and equity infusions from Pinnacle ) Tj ET Q q 0 0 0 rg BT 259.45 423.65 Td (W) Tj ET Q q 0 0 0 rg BT 269.38 423.65 Td (est.) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 396.05 Td (Summary of Cash Flows) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 382.25 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 368.45 Td (The following tables present net cash provided by \(used for\) operating, investing and financing ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 354.65 Td (activities for the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 127.10 354.65 Td (three months ended March 31, 2020) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 293.17 354.65 Td ( and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 315.53 354.65 Td (2019) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 338.53 354.65 Td ( \(dollars in millions\):) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 340.85 Td () Tj ET Q BT /F1 11.50 Tf ET 0 0 0 RG /GS0 gs 0.56 w 0 i [] 0 d 1 J 1 j 3 M 49.5 325.517041015625 m 180.91748046875 325.517041015625 l s q 0 0 0 rg BT 49.50 327.05 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 91.77 327.05 Td (W) Tj ET Q q 0 0 0 rg BT 101.70 327.05 Td (est Consolidated ) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 275.55 312.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 362.00 275.55 64.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 426.00 275.55 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 430.00 275.55 64.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.00 275.55 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 275.55 64.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 243.55 312.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 362.00 243.55 64.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 426.00 243.55 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 430.00 243.55 64.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.00 243.55 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 243.55 64.00 -16.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 362 290.54999999999995 m 426 290.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426 290.54999999999995 m 430 290.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 430 290.54999999999995 m 494 290.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 362 275.54999999999995 m 426 275.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 275.54999999999995 m 562 275.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 362 275.54999999999995 m 426 275.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 430 275.54999999999995 m 494 275.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 275.54999999999995 m 562 275.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 362 227.54999999999995 m 426 227.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 430 227.54999999999995 m 494 227.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 227.54999999999995 m 562 227.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 362 227.54999999999995 m 426 227.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 362 212.54999999999995 m 426 212.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 362 210.54999999999995 m 426 210.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 430 227.54999999999995 m 494 227.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 430 212.54999999999995 m 494 212.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 430 210.54999999999995 m 494 210.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 227.54999999999995 m 562 227.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 212.54999999999995 m 562 212.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 210.54999999999995 m 562 210.54999999999995 l s BT /F2 11.00 Tf ET q 0 0 0 rg BT 52.50 295.45 Td () Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 377.45 306.45 Td (Thr) Tj ET Q q 0 0 0 rg BT 395.69 306.45 Td (ee Months Ended) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 403.45 295.45 Td (Mar) Tj ET Q q 0 0 0 rg BT 424.12 295.45 Td (ch 31,) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 521.25 295.45 Td (Net) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 52.50 280.45 Td () Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 382.50 280.45 Td (2020) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 450.50 280.45 Td (2019) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 511.45 280.45 Td (Change) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 264.58 Td (Net cash flow provided by operating activities) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 364.50 264.58 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 404.40 264.58 Td (184) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 432.50 264.58 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 472.40 264.58 Td (173) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 500.50 264.58 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 546.15 264.58 Td (1) Tj ET Q q 0 0 0 rg BT 551.90 264.58 Td (1) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 248.58 Td (Net cash flow used for investing activities) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 400.55 248.63 Td (\(341) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 421.65 248.58 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 468.55 248.63 Td (\(254) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 489.65 248.58 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 542.30 248.63 Td (\(87) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 557.65 248.58 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 232.58 Td (Net cash flow provided by financing activities) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 404.40 232.58 Td (210) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 478.15 232.58 Td (81) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 540.40 232.58 Td (129) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 58.50 216.58 Td (Net change in cash and cash equivalents) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 364.50 216.58 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 410.15 216.58 Td (53) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 432.50 216.58 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 478.15 216.58 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 500.50 216.58 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 546.15 216.58 Td (53) Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET 0 0 0 RG /GS0 gs 0.56 w 0 i [] 0 d 1 J 1 j 3 M 49.5 182.91704101562505 m 203.759765625 182.91704101562505 l s q 0 0 0 rg BT 49.50 184.45 Td (Arizona Public Service Company) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 132.95 313.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 363.00 132.95 64.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.00 132.95 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.00 132.95 64.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.00 132.95 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.00 132.95 64.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 100.95 313.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 363.00 100.95 64.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.00 100.95 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.00 100.95 64.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.00 100.95 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 499.00 100.95 64.00 -16.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 363 147.95000000000005 m 427 147.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427 147.95000000000005 m 431 147.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431 147.95000000000005 m 495 147.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 363 132.95000000000005 m 427 132.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431 132.95000000000005 m 495 132.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499 132.95000000000005 m 563 132.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 363 132.95000000000005 m 427 132.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431 132.95000000000005 m 495 132.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499 132.95000000000005 m 563 132.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 363 84.95000000000005 m 427 84.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431 84.95000000000005 m 495 84.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499 84.95000000000005 m 563 84.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 363 84.95000000000005 m 427 84.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 363 69.95000000000005 m 427 69.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 363 67.95000000000005 m 427 67.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431 84.95000000000005 m 495 84.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431 69.95000000000005 m 495 69.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431 67.95000000000005 m 495 67.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499 84.95000000000005 m 563 84.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499 69.95000000000005 m 563 69.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499 67.95000000000005 m 563 67.95000000000005 l s BT /F2 11.00 Tf ET q 0 0 0 rg BT 52.50 152.85 Td () Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 378.45 163.85 Td (Thr) Tj ET Q q 0 0 0 rg BT 396.69 163.85 Td (ee Months Ended) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 404.45 152.85 Td (Mar) Tj ET Q q 0 0 0 rg BT 425.12 152.85 Td (ch 31,) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 522.25 152.85 Td (Net) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 52.50 137.85 Td () Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 383.50 137.85 Td (2020) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 451.50 137.85 Td (2019) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 512.45 137.85 Td (Change) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 121.98 Td (Net cash flow provided by operating activities) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 365.50 121.98 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 405.40 121.98 Td (194) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 433.50 121.98 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 473.40 121.98 Td (188) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 501.50 121.98 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 552.90 121.98 Td (6) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 105.98 Td (Net cash flow used for investing activities) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 401.55 106.03 Td (\(343) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 422.65 105.98 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 469.55 106.03 Td (\(260) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 490.65 105.98 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 543.30 106.03 Td (\(83) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 558.65 105.98 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 89.98 Td (Net cash flow provided by financing activities) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 405.40 89.98 Td (192) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 479.15 89.98 Td (72) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 541.40 89.98 Td (120) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 58.50 73.98 Td (Net change in cash and cash equivalents) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 365.50 73.98 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 411.15 73.98 Td (43) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 433.50 73.98 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 479.15 73.98 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 501.50 73.98 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 547.15 73.98 Td (43) Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 305.75 55.65 Td () Tj ET Q endstream endobj 161 0 obj <> endobj 162 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 30.55 Td (78) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 741.25 Td (Operating Cash Flows) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 727.45 Td () Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 85.50 713.65 Td (Three-month period ended ) Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 214.87 713.65 Td (March31, 2020) Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 289.95 713.65 Td ( compared with three-month period ended ) Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 491.21 713.65 Td (March31, ) Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 49.50 699.85 Td (2019) Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 72.50 699.85 Td (.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 78.25 699.85 Td ( Pinnacle ) Tj ET Q q 0 0 0 rg BT 123.39 699.85 Td (W) Tj ET Q q 0 0 0 rg BT 133.33 699.85 Td (est) Tj ET Q q 0 0 0 rg BT 149.30 699.85 Td (s consolidated net cash provided by operating activities was ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 427.47 699.85 Td ($184 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 486.57 699.85 Td ( in 2020, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 686.05 Td (compared to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 109.53 686.05 Td ($173 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 168.64 686.05 Td ( in 2019, an increase of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 278.81 686.05 Td ($1) Tj ET Q q 0 0 0 rg BT 289.88 686.05 Td (1 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 331.73 686.05 Td ( in net cash provided by operating activities ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 672.25 Td (primarily due to lower pension contributions, operations and maintenance cost, fuel and purchased power costs ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 658.45 Td (and interest expense, partially of) Tj ET Q q 0 0 0 rg BT 199.06 658.45 Td (fset by lower cash receipts from electric revenues.) Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 85.50 630.85 Td (Retirement plans and other postretirement benefits. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 334.68 630.85 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 376.95 630.85 Td (W) Tj ET Q q 0 0 0 rg BT 386.89 630.85 Td (est sponsors a qualified defined ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 617.05 Td (benefit pension plan and a non-qualified supplemental excess benefit retirement plan for the employees of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 603.25 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 91.77 603.25 Td (W) Tj ET Q q 0 0 0 rg BT 101.70 603.25 Td (est and our subsidiaries. ) Tj ET Q q 0 0 0 rg BT 217.75 603.25 Td (The requirements of the Employee Retirement Income Security ) Tj ET Q q 0 0 0 rg BT 512.19 603.25 Td (Act of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 589.45 Td (1974 \("ERISA"\) require us to contribute a minimum amount to the qualified plan. ) Tj ET Q q 0 0 0 rg BT 432.05 589.45 Td (W) Tj ET Q q 0 0 0 rg BT 441.98 589.45 Td (e contribute at least the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 575.65 Td (minimum amount required under ERISA) Tj ET Q q 0 0 0 rg BT 237.31 575.65 Td ( regulations, but no more than the maximum tax-deductible amount. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 561.85 Td (The minimum required funding takes into consideration the value of plan assets and our pension benefit ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 548.05 Td (obligations. Under ERISA, the qualified pension plan was 1) Tj ET Q q 0 0 0 rg BT 327.91 548.05 Td (17% funded as of January1, 2020 and 1) Tj ET Q q 0 0 0 rg BT 512.40 548.05 Td (12% as of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 534.25 Td (January 1, 2019. Under GAAP) Tj ET Q q 0 0 0 rg BT 192.92 534.25 Td (, the qualified pension plan was 97% funded as of January 1, 2020 and 90% ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 520.45 Td (funded as of January1, 2019. See Note 5 for additional details. ) Tj ET Q q 0 0 0 rg BT 347.91 520.45 Td (The assets in the plan are comprised of fixed-) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 506.65 Td (income, equity) Tj ET Q q 0 0 0 rg BT 117.10 506.65 Td (, real estate, and short-term investments. Future year contribution amounts are dependent on ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 492.85 Td (plan asset performance and plan actuarial assumptions. ) Tj ET Q q 0 0 0 rg BT 308.28 492.85 Td (W) Tj ET Q q 0 0 0 rg BT 318.21 492.85 Td (e have not made voluntary contributions to our ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 479.05 Td (pension plan year) Tj ET Q q 0 0 0 rg BT 130.38 479.05 Td (-to-date in 2020. ) Tj ET Q q 0 0 0 rg BT 212.26 479.05 Td (The minimum required contributions for the pension plan are ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 496.81 479.05 Td (zero) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 516.60 479.05 Td ( for the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 465.25 Td (next three years. ) Tj ET Q q 0 0 0 rg BT 130.72 465.25 Td (W) Tj ET Q q 0 0 0 rg BT 140.65 465.25 Td (e expect to make voluntary contributions up to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 357.82 465.25 Td ($100 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 416.92 465.25 Td ( per year during the 2020-2022 ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 451.45 Td (period. ) Tj ET Q q 0 0 0 rg BT 87.30 451.45 Td (W) Tj ET Q q 0 0 0 rg BT 97.23 451.45 Td (e do ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 119.58 451.45 Td (not) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 134.28 451.45 Td ( expect to make any contributions over the next three years to our other postretirement ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 437.65 Td (benefit plans. ) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 117.20 437.65 Td (W) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 127.59 437.65 Td (e continue to monitor COVID-19 and its impact on our retirement plans and other ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 423.85 Td (postretirement benefits but we believe, due to our liability driven investment strategy) Tj ET Q q 0 0 0 rg BT 440.30 423.85 Td (, which helps to minimize ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 410.05 Td (the impact of market volatility on our plan) Tj ET Q q 0 0 0 rg BT 247.83 410.05 Td (s funded status, our pension plan) Tj ET Q q 0 0 0 rg BT 401.79 410.05 Td (s funded status is still above 90% ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 396.25 Td (funded as of ) Tj ET Q q 0 0 0 rg BT 108.58 396.25 Td (April 30, 2020.) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 368.65 Td (Investing Cash Flows) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 354.85 Td () Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 85.50 341.05 Td (Three-month period ended ) Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 214.87 341.05 Td (March31, 2020) Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 289.95 341.05 Td ( compared with three-month period ended ) Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 491.21 341.05 Td (March31, ) Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 49.50 327.25 Td (2019) Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 72.50 327.25 Td (.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 78.25 327.25 Td ( Pinnacle ) Tj ET Q q 0 0 0 rg BT 123.39 327.25 Td (W) Tj ET Q q 0 0 0 rg BT 133.33 327.25 Td (est) Tj ET Q q 0 0 0 rg BT 149.30 327.25 Td (s consolidated net cash used for investing activities was ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 408.31 327.25 Td ($341 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 467.41 327.25 Td ( in 2020, compared ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 313.45 Td (to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 61.32 313.45 Td ($254 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 120.42 313.45 Td ( in 2019, an increase of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 230.59 313.45 Td ($87 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 283.95 313.45 Td ( primarily related to increased capital expenditures.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 299.65 Td () Tj ET Q endstream endobj 163 0 obj <> endobj 164 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 30.55 Td (79) Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 85.50 741.25 Td (Capital Expenditures.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 189.02 741.25 Td ( ) Tj ET Q q 0 0 0 rg BT 194.56 741.25 Td (The following table summarizes the estimated capital expenditures for the next ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 727.45 Td (three years:) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 253.25 699.85 Td (Capital Expenditur) Tj ET Q q 0 0 0 rg BT 348.58 699.85 Td (es) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 260.05 686.05 Td (\(dollars in millions\)) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.25 634.55 307.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.25 634.55 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 422.25 634.55 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 426.25 634.55 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.25 634.55 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.25 634.55 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.25 602.55 307.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.25 602.55 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 422.25 602.55 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 426.25 602.55 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.25 602.55 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.25 602.55 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.25 570.55 307.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.25 570.55 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 422.25 570.55 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 426.25 570.55 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.25 570.55 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.25 570.55 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.25 538.55 307.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.25 538.55 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 422.25 538.55 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 426.25 538.55 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.25 538.55 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.25 538.55 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.25 506.55 307.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.25 506.55 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 422.25 506.55 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 426.25 506.55 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.25 506.55 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.25 506.55 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.25 474.55 307.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.25 474.55 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 422.25 474.55 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 426.25 474.55 65.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.25 474.55 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.25 474.55 65.00 -16.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.25 649.55 m 422.25 649.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 422.25 649.55 m 426.25 649.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426.25 649.55 m 491.25 649.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.25 649.55 m 495.25 649.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.25 649.55 m 560.25 649.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.25 649.55 m 422.25 649.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.25 634.55 m 422.25 634.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 422.25 649.55 m 426.25 649.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426.25 649.55 m 491.25 649.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426.25 634.55 m 491.25 634.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.25 649.55 m 495.25 649.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.25 649.55 m 560.25 649.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.25 634.55 m 560.25 634.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.25 474.55 m 422.25 474.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426.25 474.55 m 491.25 474.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.25 474.55 m 560.25 474.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.25 474.55 m 422.25 474.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.25 459.55 m 422.25 459.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.25 457.55 m 422.25 457.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426.25 474.55 m 491.25 474.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426.25 459.55 m 491.25 459.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426.25 457.55 m 491.25 457.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.25 474.55 m 560.25 474.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.25 459.55 m 560.25 459.55 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.25 457.55 m 560.25 457.55 l s BT /F2 11.00 Tf ET q 0 0 0 rg BT 388.65 665.45 Td (Estimatedfor) Tj ET Q q 0 0 0 rg BT 452.91 665.45 Td (the) Tj ET Q q 0 0 0 rg BT 472.66 665.45 Td (Y) Tj ET Q q 0 0 0 rg BT 479.39 665.45 Td (ear) Tj ET Q q 0 0 0 rg BT 494.46 665.45 Td (Ended) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 426.25 654.45 Td (December) Tj ET Q q 0 0 0 rg BT 473.69 654.45 Td (31,) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 52.75 639.45 Td () Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 378.25 639.45 Td (2020) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 447.25 639.45 Td (2021) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 516.25 639.45 Td (2022) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.75 623.58 Td (APS) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 418.75 623.58 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 487.75 623.58 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 556.75 623.58 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 58.75 607.58 Td (Generation:) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 418.75 607.58 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 487.75 607.58 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 556.75 607.58 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 70.75 591.58 Td (Clean:) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 76.75 575.47 Td (Nuclear Generation) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 359.75 575.58 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 400.65 575.58 Td (129) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 428.75 575.58 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 469.65 575.58 Td (123) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 497.75 575.58 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 538.65 575.58 Td (123) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 76.75 559.47 Td (Renewables and Ener) Tj ET Q q 0 0 0 rg BT 171.85 559.47 Td (gy Storage Systems \("ESS"\) \(a\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 400.65 559.58 Td (121) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 469.65 559.58 Td (490) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 538.65 559.58 Td (671) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 70.75 543.47 Td (Environmental) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 406.40 543.58 Td (45) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 475.40 543.58 Td (53) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 544.40 543.58 Td (44) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 70.75 527.58 Td (Other Generation) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 400.65 527.58 Td (141) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 469.65 527.58 Td (154) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 538.65 527.58 Td (121) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 58.75 511.58 Td (Distribution) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 400.65 511.58 Td (556) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 469.65 511.58 Td (444) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 538.65 511.58 Td (446) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 58.75 495.58 Td (T) Tj ET Q q 0 0 0 rg BT 65.57 495.58 Td (ransmission) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 400.65 495.58 Td (181) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 469.65 495.58 Td (201) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 538.65 495.58 Td (205) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 58.75 479.58 Td (Other \(b\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 400.65 479.58 Td (158) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 469.65 479.58 Td (185) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 538.65 479.58 Td (1) Tj ET Q q 0 0 0 rg BT 544.40 479.58 Td (15) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 70.75 463.58 Td (T) Tj ET Q q 0 0 0 rg BT 76.97 463.58 Td (otal ) Tj ET Q q 0 0 0 rg BT 96.46 463.58 Td (APS) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 359.75 463.58 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 392.00 463.58 Td (1,331) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 428.75 463.58 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 461.00 463.58 Td (1,650) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 497.75 463.58 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 530.00 463.58 Td (1,725) Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 67.50 431.45 Td (\(a\) ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 431.45 Td (APS Solar Communities program, ener) Tj ET Q q 0 0 0 rg BT 265.76 431.45 Td (gy storage, renewable projects, and other clean ener) Tj ET Q q 0 0 0 rg BT 504.08 431.45 Td (gy projects) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 67.50 417.65 Td (\(b\) ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 417.65 Td (Primarily information systems and facilities projects) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 390.05 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 390.05 Td (Generation capital expenditures are comprised of various additions and improvements to ) Tj ET Q q 0 0 0 rg BT 498.75 390.05 Td (APS) Tj ET Q q 0 0 0 rg BT 523.04 390.05 Td (s clean ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 376.25 Td (resources, including nuclear plants, renewables and ESS. Generation capital expenditures also include ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 362.45 Td (improvements to existing fossil plants. Examples of the types of projects included in the forecast of generation ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 348.65 Td (capital expenditures are additions of renewable and ener) Tj ET Q q 0 0 0 rg BT 308.25 348.65 Td (gy storage, and upgrades and capital replacements of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 334.85 Td (various nuclear and fossil power plant equipment, such as turbines, boilers and environmental equipment. ) Tj ET Q q 0 0 0 rg BT 541.13 334.85 Td (W) Tj ET Q q 0 0 0 rg BT 551.06 334.85 Td (e ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 321.05 Td (are monitoring the status of environmental matters, which, depending on their final outcome, could require ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 307.25 Td (modification to our planned environmental expenditures.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 279.65 Td (Distribution and transmission capital expenditures are comprised of infrastructure additions and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 265.85 Td (upgrades, capital replacements, and new customer construction. Examples of the types of projects included in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 252.05 Td (the forecast include power lines, substations, and line extensions to new residential and commercial ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 238.25 Td (developments.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 210.65 Td (Capital expenditures will be funded with internally generated cash and external financings, which may ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 196.85 Td (include issuances of long-term debt and Pinnacle ) Tj ET Q q 0 0 0 rg BT 277.64 196.85 Td (W) Tj ET Q q 0 0 0 rg BT 287.57 196.85 Td (est common stock. ) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 169.25 Td (Financing Cash Flows and Liquidity) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 155.45 Td () Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 85.50 141.65 Td (Three-month period ended ) Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 214.87 141.65 Td (March31, 2020) Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 289.95 141.65 Td ( compared with three-month period ended ) Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 491.21 141.65 Td (March31, ) Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 49.50 127.85 Td (2019) Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 72.50 127.85 Td (.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 78.25 127.85 Td ( Pinnacle ) Tj ET Q q 0 0 0 rg BT 123.39 127.85 Td (W) Tj ET Q q 0 0 0 rg BT 133.33 127.85 Td (est) Tj ET Q q 0 0 0 rg BT 149.30 127.85 Td (s consolidated net cash provided by financing activities was ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 427.47 127.85 Td ($210 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 486.57 127.85 Td ( in 2020, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 114.05 Td (compared to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 109.53 114.05 Td ($81 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 162.89 114.05 Td ( in 2019, an increase of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 273.06 114.05 Td ($129 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 332.16 114.05 Td ( in net cash provided. ) Tj ET Q q 0 0 0 rg BT 436.39 114.05 Td (The increase in net cash ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 100.25 Td (provided by financing activities includes a net increase in short-term borrowings and lower long-term debt ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 86.45 Td (repayments of $350 million, partially of) Tj ET Q q 0 0 0 rg BT 233.26 86.45 Td (fset by $497 million in lower issuances of long-term debt.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 72.65 Td () Tj ET Q endstream endobj 165 0 obj <> endobj 166 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 30.55 Td (80) Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 85.50 741.25 Td (Significant Financing ) Tj ET Q q 0 0 0 rg BT 193.08 741.25 Td (Activities.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 239.39 741.25 Td ( On ) Tj ET Q q 0 0 0 rg BT 261.44 741.25 Td (April 22, 2020, the Pinnacle ) Tj ET Q q 0 0 0 rg BT 393.78 741.25 Td (W) Tj ET Q q 0 0 0 rg BT 403.71 741.25 Td (est Board of Directors declared a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 727.45 Td (dividend of $0.7825 per share of common stock, payable on June 1, 2020 to shareholders of record on May 4, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 713.65 Td (2020.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 686.05 Td ( ) Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 85.50 686.05 Td (A) Tj ET Q q 0 0 0 rg BT 92.32 686.05 Td (vailable Credit Facilities) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 208.58 686.05 Td (.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 214.33 686.05 Td ( Pinnacle ) Tj ET Q q 0 0 0 rg BT 259.48 686.05 Td (W) Tj ET Q q 0 0 0 rg BT 269.41 686.05 Td (est and ) Tj ET Q q 0 0 0 rg BT 303.91 686.05 Td (APS maintain committed revolving credit facilities in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 672.25 Td (order to enhance liquidity and provide credit support for their commercial paper programs, to finance ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 658.45 Td (indebtedness, and other general corporate purposes.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 644.65 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 630.85 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 630.85 Td (On May 5, 2020, Pinnacle ) Tj ET Q q 0 0 0 rg BT 208.90 630.85 Td (W) Tj ET Q q 0 0 0 rg BT 218.84 630.85 Td (est refinanced its 364-day ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 340.18 630.85 Td ($50 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 393.54 630.85 Td ( term loan agreement that would ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 617.05 Td (have matured on May 7, 2020 with a new 364-day ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 284.24 617.05 Td ($31 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 337.59 617.05 Td ( term loan agreement that matures on May 4, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 603.25 Td (2021. Borrowings under the agreement bear interest at LIBOR plus ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 362.16 603.25 Td (1.40%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 391.87 603.25 Td ( per annum. ) Tj ET Q q 0 0 0 rg BT 448.72 603.25 Td (At ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 463.09 603.25 Td (March31, 2020) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 536.23 603.25 Td (, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 589.45 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 91.77 589.45 Td (W) Tj ET Q q 0 0 0 rg BT 101.70 589.45 Td (est had ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 136.83 589.45 Td ($33 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 190.18 589.45 Td ( in outstanding borrowings under the prior agreement.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 575.65 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 561.85 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 561.85 Td (At ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 99.88 561.85 Td (March31, 2020) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 173.01 561.85 Td (, Pinnacle ) Tj ET Q q 0 0 0 rg BT 221.03 561.85 Td (W) Tj ET Q q 0 0 0 rg BT 230.97 561.85 Td (est had a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 274.08 561.85 Td ($200 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 333.18 561.85 Td ( revolving credit facility that matures in July ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 548.05 Td (2023. Pinnacle ) Tj ET Q q 0 0 0 rg BT 120.52 548.05 Td (W) Tj ET Q q 0 0 0 rg BT 130.45 548.05 Td (est has the option to increase the amount of the facility up to a maximum of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 481.12 548.05 Td ($300 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 540.22 548.05 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 534.25 Td (upon the satisfaction of certain conditions and with the consent of the lenders.Interest rates are based on ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 520.45 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 91.77 520.45 Td (W) Tj ET Q q 0 0 0 rg BT 101.70 520.45 Td (est's senior unsecured debt credit ratings. ) Tj ET Q q 0 0 0 rg BT 295.82 520.45 Td (The facility is available to support Pinnacle ) Tj ET Q q 0 0 0 rg BT 498.41 520.45 Td (W) Tj ET Q q 0 0 0 rg BT 508.34 520.45 Td (est's ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 530.54 520.45 Td ($200 ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 506.65 Td (million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 82.73 506.65 Td ( commercial paper program, for bank borrowings or for issuances of letters of credits. ) Tj ET Q q 0 0 0 rg BT 482.23 506.65 Td (At ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 496.61 506.65 Td (March31, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 492.85 Td (2020) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 72.50 492.85 Td (, Pinnacle ) Tj ET Q q 0 0 0 rg BT 120.52 492.85 Td (W) Tj ET Q q 0 0 0 rg BT 130.45 492.85 Td (est had ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 165.58 492.85 Td ($100 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 224.68 492.85 Td ( outstanding borrowings under its credit facility) Tj ET Q q 0 0 0 rg BT 443.04 492.85 Td (, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 448.79 492.85 Td (no) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 460.29 492.85 Td ( letters of credit ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 479.05 Td (outstanding and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 125.52 479.05 Td (no) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 137.02 479.05 Td ( commercial paper borrowings.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 451.45 Td (On January 15, 2020, ) Tj ET Q q 0 0 0 rg BT 186.44 451.45 Td (APS repaid at maturity the remaining ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 361.46 451.45 Td ($150 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 420.56 451.45 Td ( of the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 452.81 451.45 Td ($250 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 511.91 451.45 Td ( aggregate ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 437.65 Td (principal amount of its ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 156.82 437.65 Td (2.2%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 180.77 437.65 Td ( Senior Notes.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 410.05 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 410.05 Td (At ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 99.88 410.05 Td (March31, 2020) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 173.01 410.05 Td (, ) Tj ET Q q 0 0 0 rg BT 178.13 410.05 Td (APS had ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 221.58 410.05 Td (two) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 238.83 410.05 Td ( revolving credit facilities totaling ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 398.19 410.05 Td ($1 billion) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 442.60 410.05 Td (, including a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 502.64 410.05 Td ($500 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 561.75 410.05 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 396.25 Td (credit facility that matures in June 2022 and a ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 262.51 396.25 Td ($500 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 321.61 396.25 Td ( facility that matures in July 2023. ) Tj ET Q q 0 0 0 rg BT 484.19 396.25 Td (APS may ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 382.45 Td (increase the amount of each facility up to a maximum of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 312.32 382.45 Td ($700 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 371.42 382.45 Td (, for a total of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 437.20 382.45 Td ($1.4 billion) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 490.23 382.45 Td (, upon the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 368.65 Td (satisfaction of certain conditions and with the consent of the lenders. Interest rates are based on ) Tj ET Q q 0 0 0 rg BT 492.76 368.65 Td (APS) Tj ET Q q 0 0 0 rg BT 517.05 368.65 Td (s senior ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 354.85 Td (unsecured debt credit ratings. ) Tj ET Q q 0 0 0 rg BT 190.44 354.85 Td (These facilities are available to support ) Tj ET Q q 0 0 0 rg BT 373.10 354.85 Td (APS) Tj ET Q q 0 0 0 rg BT 397.39 354.85 Td (s ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 404.74 354.85 Td ($500 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 463.84 354.85 Td ( commercial paper ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 341.05 Td (program, for bank borrowings or for issuances of letters of credit. ) Tj ET Q q 0 0 0 rg BT 356.09 341.05 Td (At ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 370.46 341.05 Td (March31, 2020) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 443.60 341.05 Td (, ) Tj ET Q q 0 0 0 rg BT 448.72 341.05 Td (APS had ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 492.17 341.05 Td (no) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 503.67 341.05 Td ( commercial ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 327.25 Td (paper outstanding and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 153.93 327.25 Td ($430 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 213.04 327.25 Td ( outstanding borrowings or letters of credit under its revolving credit ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 313.45 Td (facilities.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 285.85 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 285.85 Td (As a result of the COVID-19 pandemic, in mid-March 2020 the commercial paper markets failed to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 272.05 Td (function normally and we were unable to utilize commercial paper as our primary method of acquiring short-) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 258.25 Td (term capital, which resulted in us drawing on our revolving credit facilities during the first quarter of 2020. In ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 244.45 Td (mid-April 2020, we were again able to utilize the commercial paper market and we have used the commercial ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 230.65 Td (paper proceeds to pay down the revolving credit facilities by approximately $220 million through May 1, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 216.85 Td (2020. ) Tj ET Q q 0 0 0 rg BT 80.92 216.85 Td (W) Tj ET Q q 0 0 0 rg BT 90.85 216.85 Td (e do not believe this will have a material impact on our financial position, results of operations or cash ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 203.05 Td (flows.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 175.45 Td (See "Financial ) Tj ET Q q 0 0 0 rg BT 154.71 175.45 Td (Assurances" in Note 8 for a discussion of separate outstanding letters of credit and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 161.65 Td (surety bonds.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 147.85 Td () Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 85.50 134.05 Td (Other Financing Matters. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 213.63 134.05 Td (See Note 7 for information related to the change in our mar) Tj ET Q q 0 0 0 rg BT 486.46 134.05 Td (gin and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 120.25 Td (collateral accounts.) Tj ET Q endstream endobj 167 0 obj <> endobj 168 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 30.55 Td (81) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 741.25 Td (Debt Pr) Tj ET Q q 0 0 0 rg BT 87.93 741.25 Td (ovisions) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 727.45 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 713.65 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 127.77 713.65 Td (W) Tj ET Q q 0 0 0 rg BT 137.70 713.65 Td (est) Tj ET Q q 0 0 0 rg BT 153.67 713.65 Td (s and ) Tj ET Q q 0 0 0 rg BT 179.87 713.65 Td (APS) Tj ET Q q 0 0 0 rg BT 204.16 713.65 Td (s debt covenants related to their respective bank financing arrangements ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 699.85 Td (include maximum debt to capitalization ratios. Pinnacle ) Tj ET Q q 0 0 0 rg BT 311.49 699.85 Td (W) Tj ET Q q 0 0 0 rg BT 321.43 699.85 Td (est and ) Tj ET Q q 0 0 0 rg BT 355.92 699.85 Td (APS comply with these covenants. For both ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 686.05 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 91.77 686.05 Td (W) Tj ET Q q 0 0 0 rg BT 101.70 686.05 Td (est and ) Tj ET Q q 0 0 0 rg BT 136.20 686.05 Td (APS, these covenants require that the ratio of consolidated debt to total consolidated ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 672.25 Td (capitalization not exceed ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 166.68 672.25 Td (65%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 187.76 672.25 Td (. ) Tj ET Q q 0 0 0 rg BT 195.75 672.25 Td (At ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 210.13 672.25 Td (March31, 2020) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 283.27 672.25 Td (, the ratio was approximately ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 419.95 672.25 Td (53%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 441.03 672.25 Td ( for Pinnacle ) Tj ET Q q 0 0 0 rg BT 502.46 672.25 Td (W) Tj ET Q q 0 0 0 rg BT 512.39 672.25 Td (est and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 658.45 Td (48%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 70.58 658.45 Td ( for ) Tj ET Q q 0 0 0 rg BT 89.10 658.45 Td (APS. Failure to comply with such covenant levels would result in an event of default which, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 644.65 Td (generally speaking, would require the immediate repayment of the debt subject to the covenants and could ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 630.85 Td ("cross-default" other debt. See further discussion of "cross-default" provisions below) Tj ET Q q 0 0 0 rg BT 442.79 630.85 Td (.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 603.25 Td (Neither Pinnacle ) Tj ET Q q 0 0 0 rg BT 165.13 603.25 Td (W) Tj ET Q q 0 0 0 rg BT 175.06 603.25 Td (est) Tj ET Q q 0 0 0 rg BT 191.03 603.25 Td (s nor ) Tj ET Q q 0 0 0 rg BT 215.95 603.25 Td (APS) Tj ET Q q 0 0 0 rg BT 240.24 603.25 Td (s financing agreements contain "rating triggers" that would result in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 589.45 Td (an acceleration of the required interest and principal payments in the event of a rating downgrade. However) Tj ET Q q 0 0 0 rg BT 547.18 589.45 Td (, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 575.65 Td (our bank credit agreements contain a pricing grid in which the interest rates we pay for borrowings thereunder ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 561.85 Td (are determined by our current credit ratings.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 548.05 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 534.25 Td (All of Pinnacle ) Tj ET Q q 0 0 0 rg BT 157.79 534.25 Td (W) Tj ET Q q 0 0 0 rg BT 167.73 534.25 Td (est) Tj ET Q q 0 0 0 rg BT 183.70 534.25 Td (s loan agreements contain "cross-default" provisions that would result in defaults ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 520.45 Td (and the potential acceleration of payment under these loan agreements if Pinnacle ) Tj ET Q q 0 0 0 rg BT 428.01 520.45 Td (W) Tj ET Q q 0 0 0 rg BT 437.94 520.45 Td (est or ) Tj ET Q q 0 0 0 rg BT 465.42 520.45 Td (APS were to default ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 506.65 Td (under certain other material agreements. ) Tj ET Q q 0 0 0 rg BT 240.13 506.65 Td (All of ) Tj ET Q q 0 0 0 rg BT 269.52 506.65 Td (APS) Tj ET Q q 0 0 0 rg BT 293.81 506.65 Td (s bank agreements contain "cross-default" provisions that ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 492.85 Td (would result in defaults and the potential acceleration of payment under these bank agreements if ) Tj ET Q q 0 0 0 rg BT 498.81 492.85 Td (APS were to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 479.05 Td (default under certain other material agreements. Pinnacle ) Tj ET Q q 0 0 0 rg BT 317.83 479.05 Td (W) Tj ET Q q 0 0 0 rg BT 327.77 479.05 Td (est and ) Tj ET Q q 0 0 0 rg BT 362.26 479.05 Td (APS do not have a material adverse change ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 465.25 Td (restriction for credit facility borrowings.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 437.65 Td (On November 27, 2018, the ) Tj ET Q q 0 0 0 rg BT 216.13 437.65 Td (ACC issued a financing order that, subject to specified parameters and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 423.85 Td (procedures, increased ) Tj ET Q q 0 0 0 rg BT 151.36 423.85 Td (APS) Tj ET Q q 0 0 0 rg BT 175.65 423.85 Td (s long-term debt limit from ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 303.73 423.85 Td ($5.1 billion) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 356.76 423.85 Td ( to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 371.46 423.85 Td ($5.9 billion) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 424.49 423.85 Td (, and authorized ) Tj ET Q q 0 0 0 rg BT 500.49 423.85 Td (APS) Tj ET Q q 0 0 0 rg BT 524.79 423.85 Td (s short-) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 410.05 Td (term debt limit equal to a sum of \(i\) ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 216.54 410.05 Td (7%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 231.86 410.05 Td ( of ) Tj ET Q q 0 0 0 rg BT 246.56 410.05 Td (APS) Tj ET Q q 0 0 0 rg BT 270.85 410.05 Td (s capitalization, and \(ii\) ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 382.30 410.05 Td ($500 million) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 441.40 410.05 Td ( \(which is required to be ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 396.25 Td (used for costs relating to purchases of natural gas and power\). On March 27, 2020, ) Tj ET Q q 0 0 0 rg BT 432.10 396.25 Td (APS filed an application ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 382.45 Td (with the ) Tj ET Q q 0 0 0 rg BT 89.11 382.45 Td (ACC to increase the long-term debt limit from ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 305.65 382.45 Td ($5.9 billion) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 358.68 382.45 Td ( to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 373.38 382.45 Td ($7.5 billion) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 426.41 382.45 Td ( and to continue its ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 368.65 Td (authorization of short-term debt granted in the 2018 financing order) Tj ET Q q 0 0 0 rg BT 360.87 368.65 Td (. If the ) Tj ET Q q 0 0 0 rg BT 396.32 368.65 Td (ACC does not approve this ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 354.85 Td (application by December 31, 2020, this could impact ) Tj ET Q q 0 0 0 rg BT 295.42 354.85 Td (APS) Tj ET Q q 0 0 0 rg BT 319.71 354.85 Td (s ability to enter into new long-term debt ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 341.05 Td (obligations.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 327.25 Td () Tj ET Q endstream endobj 169 0 obj <> endobj 170 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 30.55 Td (82) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 741.25 Td (Cr) Tj ET Q q 0 0 0 rg BT 62.70 741.25 Td (edit Ratings) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 727.45 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 713.65 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 713.65 Td (The ratings of securities of Pinnacle ) Tj ET Q q 0 0 0 rg BT 253.91 713.65 Td (W) Tj ET Q q 0 0 0 rg BT 263.85 713.65 Td (est and ) Tj ET Q q 0 0 0 rg BT 298.34 713.65 Td (APS as of May 1, 2020 are shown below) Tj ET Q q 0 0 0 rg BT 485.73 713.65 Td (. ) Tj ET Q q 0 0 0 rg BT 494.15 713.65 Td (W) Tj ET Q q 0 0 0 rg BT 504.08 713.65 Td (e are ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 699.85 Td (disclosing these credit ratings to enhance understanding of our cost of short-term and long-term capital and our ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 686.05 Td (ability to access the markets for liquidity and long-term debt. ) Tj ET Q q 0 0 0 rg BT 336.09 686.05 Td (The ratings reflect the respective views of the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 672.25 Td (rating agencies, from which an explanation of the significance of their ratings may be obtained. ) Tj ET Q q 0 0 0 rg BT 493.82 672.25 Td (There is no ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 658.45 Td (assurance that these ratings will continue for any given period of time. ) Tj ET Q q 0 0 0 rg BT 378.87 658.45 Td (The ratings may be revised or ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 644.65 Td (withdrawn entirely by the rating agencies if, in their respective judgments, circumstances so warrant. ) Tj ET Q q 0 0 0 rg BT 518.95 644.65 Td (Any ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 630.85 Td (downward revision or withdrawal may adversely af) Tj ET Q q 0 0 0 rg BT 286.25 630.85 Td (fect the market price of Pinnacle ) Tj ET Q q 0 0 0 rg BT 438.67 630.85 Td (W) Tj ET Q q 0 0 0 rg BT 448.60 630.85 Td (est) Tj ET Q q 0 0 0 rg BT 464.57 630.85 Td (s or ) Tj ET Q q 0 0 0 rg BT 483.74 630.85 Td (APS) Tj ET Q q 0 0 0 rg BT 508.04 630.85 Td (s securities ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 617.05 Td (and/or result in an increase in the cost of, or limit access to, capital. Such revisions may also result in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 603.25 Td (substantial additional cash or other collateral requirements related to certain derivative instruments, insurance ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 589.45 Td (policies, natural gas transportation, fuel supply) Tj ET Q q 0 0 0 rg BT 264.33 589.45 Td (, and other ener) Tj ET Q q 0 0 0 rg BT 335.65 589.45 Td (gy-related contracts. ) Tj ET Q q 0 0 0 rg BT 434.64 589.45 Td (At this time, we believe we ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 575.65 Td (have suf) Tj ET Q q 0 0 0 rg BT 87.93 575.65 Td (ficient available liquidity resources to respond to a downward revision to our credit ratings.) 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0 0 rg BT 52.50 541.25 Td () Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 290.70 541.25 Td (Moody) Tj ET Q q 0 0 0 rg BT 327.16 541.25 Td (s) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 362.50 541.25 Td () Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 367.45 541.25 Td (Standard&Poor) Tj ET Q q 0 0 0 rg BT 448.83 541.25 Td () Tj ET Q q 0 0 0 rg BT 452.39 541.25 Td (s) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 463.50 541.25 Td () Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 500.75 541.25 Td (Fitch) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 52.50 525.25 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 95.48 525.25 Td (W) Tj ET Q q 0 0 0 rg BT 106.08 525.25 Td (est) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 311.00 525.27 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 362.50 525.27 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 412.00 525.27 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 463.50 525.27 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 513.00 525.27 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 58.50 509.38 Td (Corporate credit rating) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 303.95 509.38 Td (A3) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 362.50 509.38 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 405.90 509.38 Td (A-) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 463.50 509.38 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 506.90 509.38 Td (A-) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 58.50 493.38 Td (Senior unsecured) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 303.95 493.38 Td (A3) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 362.50 493.38 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 397.25 493.38 Td (BBB+) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 463.50 493.38 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 506.90 493.38 Td (A-) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 58.50 477.38 Td (Commercial paper) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 303.00 477.38 Td (P-2) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 362.50 477.38 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 403.05 477.38 Td (A-2) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 463.50 477.38 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 506.90 477.38 Td (F2) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 58.50 461.38 Td (Outlook) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 290.20 461.38 Td (Negative) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 362.50 461.38 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 397.60 461.38 Td (Stable) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 463.50 461.38 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 492.20 461.38 Td (Negative) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 445.38 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 311.00 445.38 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 362.50 445.38 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 412.00 445.38 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 463.50 445.38 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 513.00 445.38 Td () Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 52.50 429.25 Td (APS) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 311.00 429.27 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 362.50 429.27 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 412.00 429.27 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 463.50 429.27 Td () Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 513.00 429.27 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 58.50 413.38 Td (Corporate credit rating) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 303.95 413.38 Td (A2) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 362.50 413.38 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 405.90 413.38 Td (A-) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 463.50 413.38 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 506.90 413.38 Td (A-) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 58.50 397.38 Td (Senior unsecured) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 303.95 397.38 Td (A2) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 362.50 397.38 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 405.90 397.38 Td (A-) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 463.50 397.38 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 509.15 397.38 Td (A) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 58.50 381.38 Td (Commercial paper) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 303.00 381.38 Td (P-1) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 362.50 381.38 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 403.05 381.38 Td (A-2) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 463.50 381.38 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 506.90 381.38 Td (F2) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 58.50 365.38 Td (Outlook) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 290.20 365.38 Td (Negative) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 362.50 365.38 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 397.60 365.38 Td (Stable) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 463.50 365.38 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 492.20 365.38 Td (Negative) Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 305.75 347.05 Td () Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 333.25 Td (Off-Balance Sheets ) Tj ET Q q 0 0 0 rg BT 145.33 333.25 Td (Arrangements) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 319.45 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 305.65 Td (See Note 6 for a discussion of the impacts on our financial statements of consolidating certain ) Tj ET Q q 0 0 0 rg BT 520.27 305.65 Td (VIEs.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 291.85 Td () Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 278.05 Td (Contractual Obligations) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 250.45 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 250.45 Td (As of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 113.61 250.45 Td (March31, 2020) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 186.75 250.45 Td (, there have been no material changes outside the normal course of business in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 236.65 Td (contractual obligations from the information provided in our 2019 Form 10-K. See Note 3 for discussion ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 222.85 Td (regarding changes in our short-term and long-term debt obligations.) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 207.55 181.45 Td (CRITICAL) Tj ET Q q 0 0 0 rg BT 264.43 181.45 Td ( ) Tj ET Q q 0 0 0 rg BT 266.67 181.45 Td (ACCOUNTING POLICIES) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 306.00 167.65 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 153.85 Td (In preparing the financial statements in accordance with GAAP) Tj ET Q q 0 0 0 rg BT 376.10 153.85 Td (, management must often make ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 140.05 Td (estimates and assumptions that af) Tj ET Q q 0 0 0 rg BT 203.24 140.05 Td (fect the reported amounts of assets, liabilities, revenues, expenses and related ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 126.25 Td (disclosures at the date of the financial statements and during the reporting period. Some of those judgments ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 112.45 Td (can be subjective and complex, and actual results could dif) Tj ET Q q 0 0 0 rg BT 320.09 112.45 Td (fer from those estimates. ) Tj ET Q q 0 0 0 rg BT 439.33 112.45 Td (There have been no ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 98.65 Td (changes to our critical accounting policies since our 2019 Form10-K. See "Critical ) Tj ET Q q 0 0 0 rg BT 437.76 98.65 Td (Accounting Policies" in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 84.85 Td (Item 7 of the 2019 Form10-K for further details about our critical accounting policies.) Tj ET Q endstream endobj 171 0 obj <> endobj 172 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 32.55 Td (83) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 214.70 743.75 Td (OTHER ) Tj ET Q q 0 0 0 rg BT 258.48 743.75 Td (ACCOUNTING MA) Tj ET Q q 0 0 0 rg BT 359.53 743.75 Td (TTERS) Tj ET Q BT /F1 11.00 Tf ET q 0 0 0 rg BT 49.50 716.75 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 716.75 Td (On January 1, 2020 we adopted ) Tj ET Q q 0 0 0 rg BT 233.37 716.75 Td (ASU 2016-13, and related amendments, pertaining to the measurement ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 702.95 Td (of credit losses on financial instruments. See Note 13 for additional information related to new accounting ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 689.15 Td (standards. ) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 224.25 647.75 Td (MARKET) Tj ET Q q 0 0 0 rg BT 275.79 647.75 Td ( ) Tj ET Q q 0 0 0 rg BT 278.03 647.75 Td (AND CREDIT) Tj ET Q q 0 0 0 rg BT 350.35 647.75 Td ( RISKS) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 620.15 Td (Market Risks) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 592.55 Td (Our operations include managing market risks related to changes in interest rates, commodity prices, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 578.75 Td (investments held by our nuclear decommissioning trust, other special use funds and benefit plan assets.) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 85.50 551.15 Td (Inter) Tj ET Q q 0 0 0 rg BT 110.20 551.15 Td (est Rate and Equity Risk) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 523.55 Td (W) Tj ET Q q 0 0 0 rg BT 95.43 523.55 Td (e have exposure to changing interest rates. Changing interest rates will af) Tj ET Q q 0 0 0 rg BT 434.69 523.55 Td (fect interest paid on ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 509.75 Td (variable-rate debt and the market value of fixed income securities held by our nuclear decommissioning trust, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 495.95 Td (other special use funds \(see Note 1) Tj ET Q q 0 0 0 rg BT 209.39 495.95 Td (1 and Note 12\), and benefit plan assets. ) Tj ET Q q 0 0 0 rg BT 396.01 495.95 Td (The nuclear decommissioning trust, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 482.15 Td (other special use funds and benefit plan assets also have risks associated with the changing market value of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 468.35 Td (their equity and other non-fixed income investments. Nuclear decommissioning and benefit plan costs are ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 454.55 Td (recovered in regulated electricity prices.) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 85.50 426.95 Td (Commodity Price Risk) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 399.35 Td (W) Tj ET Q q 0 0 0 rg BT 95.43 399.35 Td (e are exposed to the impact of market fluctuations in the commodity price and transportation costs of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 385.55 Td (electricity and natural gas. Our risk management committee, consisting of of) Tj ET Q q 0 0 0 rg BT 404.74 385.55 Td (ficers and key management ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 371.75 Td (personnel, oversees company-wide ener) Tj ET Q q 0 0 0 rg BT 233.22 371.75 Td (gy risk management activities to ensure compliance with our stated ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 357.95 Td (ener) Tj ET Q q 0 0 0 rg BT 69.08 357.95 Td (gy risk management policies. ) Tj ET Q q 0 0 0 rg BT 209.40 357.95 Td (W) Tj ET Q q 0 0 0 rg BT 219.33 357.95 Td (e manage risks associated with these market fluctuations by utilizing ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 344.15 Td (various commodity instruments that may qualify as derivatives, including futures, forwards, options and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 330.35 Td (swaps. ) Tj ET Q q 0 0 0 rg BT 85.60 330.35 Td (As part of our risk management program, we use such instruments to hedge purchases and sales of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 316.55 Td (electricity and fuels. ) Tj ET Q q 0 0 0 rg BT 148.60 316.55 Td (The changes in market value of such contracts have a high correlation to price changes in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 302.75 Td (the hedged commodities.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 275.15 Td (The following table shows the net pretax changes in mark-to-market of our derivative positions for the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 261.35 Td (three months ended March 31, 2020) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 215.57 261.35 Td ( and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 237.93 261.35 Td (2019) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 260.93 261.35 Td ( \(dollars in millions\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 209.85 367.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 417.00 209.85 71.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.00 209.85 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.00 209.85 71.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 177.85 367.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 417.00 177.85 71.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.00 177.85 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.00 177.85 71.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 145.85 367.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 417.00 145.85 71.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.00 145.85 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.00 145.85 71.00 -16.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417 224.85000000000002 m 488 224.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488 224.85000000000002 m 492 224.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492 224.85000000000002 m 563 224.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417 224.85000000000002 m 488 224.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417 209.85000000000002 m 488 209.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492 224.85000000000002 m 563 224.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492 209.85000000000002 m 563 209.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417 209.85000000000002 m 488 209.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492 209.85000000000002 m 563 209.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417 129.85000000000002 m 488 129.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417 114.85000000000002 m 488 114.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417 112.85000000000002 m 488 112.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492 129.85000000000002 m 563 129.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492 114.85000000000002 m 563 114.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492 112.85000000000002 m 563 112.85000000000002 l s BT /F2 11.00 Tf ET q 0 0 0 rg BT 52.50 229.75 Td () Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 439.45 240.75 Td (Thr) Tj ET Q q 0 0 0 rg BT 457.69 240.75 Td (ee Months Ended) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 465.45 229.75 Td (Mar) Tj ET Q q 0 0 0 rg BT 486.12 229.75 Td (ch 31,) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 52.50 214.75 Td () Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 441.00 214.75 Td (2020) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 516.00 214.75 Td (2019) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 198.88 Td (Mark-to-market of net positions at beginning of period) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 419.50 198.88 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 468.15 198.88 Td (\(71) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 483.50 198.88 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 494.50 198.88 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 543.30 198.93 Td (\(58) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 558.65 198.88 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 182.88 Td (Decrease \(Increase\) in regulatory asset) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 467.50 182.98 Td (\(14) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 483.50 182.98 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 547.15 182.88 Td (12) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 166.88 Td (Recognized in OCI:) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 58.50 150.88 Td (Mark-to-market losses realized during the period) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 471.50 150.98 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 547.15 150.88 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 58.50 134.88 Td (Change in valuation techniques) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 471.50 134.98 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 547.15 134.88 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 118.88 Td (Mark-to-market of net positions at end of period) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 419.50 118.88 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 468.15 118.88 Td (\(85) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 483.50 118.88 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 494.50 118.88 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 543.30 118.93 Td (\(46) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 558.65 118.88 Td (\)) Tj ET Q BT /F1 11.50 Tf ET endstream endobj 173 0 obj <> endobj 174 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 32.55 Td (84) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 743.55 Td (The table below shows the fair value of maturities of our derivative contracts \(dollars in millions\) at ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 729.75 Td (March31, 2020) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 122.64 729.75 Td ( by maturities and by the type of valuation that is performed to calculate the fair values, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 715.95 Td (classified in their entirety based on the lowest level of input that is significant to the fair value measurement. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 702.15 Td (See Note 1, "Derivative ) Tj ET Q q 0 0 0 rg BT 161.18 702.15 Td (Accounting" and "Fair ) Tj ET Q q 0 0 0 rg BT 267.77 702.15 Td (V) Tj ET Q q 0 0 0 rg BT 274.80 702.15 Td (alue Measurements," in Item 8 of our 2019 Form10-K and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 688.35 Td (Note 1) Tj ET Q q 0 0 0 rg BT 80.05 688.35 Td (1 for more discussion of our valuation methods.) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 51.00 640.85 173.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 224.00 640.85 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 228.00 640.85 52.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 280.00 640.85 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 284.00 640.85 52.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 336.00 640.85 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 340.00 640.85 52.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 392.00 640.85 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 396.00 640.85 52.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 448.00 640.85 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 452.00 640.85 52.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.00 640.85 4.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 508.00 640.85 52.00 -27.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 51.00 597.85 173.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 224.00 597.85 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 228.00 597.85 52.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 280.00 597.85 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 284.00 597.85 52.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 336.00 597.85 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 340.00 597.85 52.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 392.00 597.85 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 396.00 597.85 52.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 448.00 597.85 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 452.00 597.85 52.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.00 597.85 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 508.00 597.85 52.00 -16.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 51 640.85 m 224 640.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 228 640.85 m 280 640.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 284 640.85 m 336 640.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 340 640.85 m 392 640.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 396 640.85 m 448 640.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 452 640.85 m 504 640.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 640.85 m 560 640.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 228 640.85 m 280 640.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 284 640.85 m 336 640.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 340 640.85 m 392 640.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 396 640.85 m 448 640.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 452 640.85 m 504 640.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 640.85 m 560 640.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 228 597.85 m 280 597.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 284 597.85 m 336 597.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 340 597.85 m 392 597.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 396 597.85 m 448 597.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 452 597.85 m 504 597.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 228 597.85 m 280 597.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 228 582.85 m 280 582.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 228 580.85 m 280 580.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 284 597.85 m 336 597.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 284 582.85 m 336 582.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 284 580.85 m 336 580.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 340 597.85 m 392 597.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 340 582.85 m 392 582.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 340 580.85 m 392 580.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 396 597.85 m 448 597.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 396 582.85 m 448 582.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 396 580.85 m 448 580.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 452 597.85 m 504 597.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 452 582.85 m 504 582.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 452 580.85 m 504 580.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 597.85 m 560 597.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 582.85 m 560 582.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 580.85 m 560 580.85 l s BT /F2 11.00 Tf ET q 0 0 0 rg BT 53.50 645.75 Td (Sour) Tj ET Q q 0 0 0 rg BT 75.92 645.75 Td (ceofFair) Tj ET Q q 0 0 0 rg BT 120.31 645.75 Td () Tj ET Q q 0 0 0 rg BT 122.86 645.75 Td (V) Tj ET Q q 0 0 0 rg BT 129.79 645.75 Td (alue) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 242.50 645.75 Td (2020) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 298.50 645.75 Td (2021) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 354.50 645.75 Td (2022) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 410.50 645.75 Td (2023) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 466.50 645.75 Td (2024) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 521.45 667.75 Td (T) Tj ET Q q 0 0 0 rg BT 527.78 667.75 Td (otal) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 523.50 656.75 Td (Fair) Tj ET Q q 0 0 0 rg BT 543.46 656.75 Td () Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 520.25 645.75 Td (V) Tj ET Q q 0 0 0 rg BT 527.18 645.75 Td (alue) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 53.50 630.38 Td (Observable prices provided by) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 53.50 618.88 Td (other external sources) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 230.50 618.88 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 260.30 618.88 Td (\(46) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 275.65 618.88 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 286.50 618.88 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 316.30 618.93 Td (\(13) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 331.65 618.88 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 342.50 618.88 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 372.30 618.93 Td (\(12) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 387.65 618.88 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 398.50 618.88 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 434.05 618.93 Td (\(6) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 443.65 618.88 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 454.50 618.88 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 488.15 618.88 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 510.50 618.88 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 540.30 618.93 Td (\(77) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 555.65 618.88 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 53.50 602.88 Td (Prices based on unobservable inputs) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 266.05 602.88 Td (\(5) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 275.65 602.88 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 320.15 602.88 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 376.15 602.88 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 432.15 602.88 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 490.05 602.93 Td (\(3) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 499.65 602.88 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 546.05 602.93 Td (\(8) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 555.65 602.88 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 53.50 586.88 Td (T) Tj ET Q q 0 0 0 rg BT 59.72 586.88 Td (otal by maturity) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 230.50 586.88 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 260.30 586.88 Td (\(51) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 275.65 586.88 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 286.50 586.88 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 316.30 586.93 Td (\(13) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 331.65 586.88 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 342.50 586.88 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 372.30 586.93 Td (\(12) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 387.65 586.88 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 398.50 586.88 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 434.05 586.93 Td (\(6) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 443.65 586.88 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 454.50 586.88 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 490.05 586.93 Td (\(3) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 499.65 586.88 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 510.50 586.88 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 540.30 586.93 Td (\(85) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 555.65 586.88 Td (\)) Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 554.75 Td (The table below shows the impact that hypothetical price movements of 10% would have on the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 540.95 Td (market value of our risk management assets and liabilities included on Pinnacle ) Tj ET Q q 0 0 0 rg BT 418.48 540.95 Td (W) Tj ET Q q 0 0 0 rg BT 428.41 540.95 Td (est) Tj ET Q q 0 0 0 rg BT 444.38 540.95 Td (s Condensed ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 527.15 Td (Consolidated Balance Sheets at ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 197.05 527.15 Td (March31, 2020) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 270.19 527.15 Td ( and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 292.54 527.15 Td (December31, 2019) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 382.92 527.15 Td ( \(dollars in millions\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 457.85 190.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 240.00 457.85 72.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 312.00 457.85 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 316.00 457.85 85.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 401.00 457.85 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 405.00 457.85 72.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.00 457.85 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 481.00 457.85 82.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 425.85 190.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 240.00 425.85 72.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 312.00 425.85 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 316.00 425.85 85.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 401.00 425.85 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 405.00 425.85 72.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.00 425.85 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 481.00 425.85 82.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 393.85 190.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 240.00 393.85 72.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 312.00 393.85 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 316.00 393.85 85.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 401.00 393.85 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 405.00 393.85 72.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.00 393.85 4.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 481.00 393.85 82.00 -16.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 240 472.85 m 312 472.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 312 472.85 m 316 472.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 316 472.85 m 401 472.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 405 472.85 m 477 472.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477 472.85 m 481 472.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 481 472.85 m 563 472.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 240 457.85 m 312 457.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 316 472.85 m 401 472.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 316 457.85 m 401 457.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 405 457.85 m 477 457.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 481 472.85 m 563 472.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 481 457.85 m 563 457.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 240 393.85 m 312 393.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 316 393.85 m 401 393.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 405 393.85 m 477 393.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 481 393.85 m 563 393.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 240 393.85 m 312 393.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 240 378.85 m 312 378.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 240 376.85 m 312 376.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 316 393.85 m 401 393.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 316 378.85 m 401 378.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 316 376.85 m 401 376.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 405 393.85 m 477 393.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 405 378.85 m 477 378.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 405 376.85 m 477 376.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 481 393.85 m 563 393.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 481 378.85 m 563 378.85 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 481 376.85 m 563 376.85 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 286.90 492.53 Td (Mar) Tj ET Q q 0 0 0 rg BT 305.69 492.53 Td (ch 31, 2020) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 443.15 492.53 Td (December) Tj ET Q q 0 0 0 rg BT 486.27 492.53 Td ( 31, 2019) Tj ET Q BT /F2 10.50 Tf ET q 0 0 0 rg BT 52.50 477.64 Td () Tj ET Q BT /F2 10.50 Tf ET q 0 0 0 rg BT 293.85 477.64 Td (Gain\(Loss\)) Tj ET Q BT /F2 10.50 Tf ET q 0 0 0 rg BT 457.35 477.64 Td (Gain\(Loss\)) Tj ET Q BT /F2 10.50 Tf ET q 0 0 0 rg BT 52.50 462.64 Td () Tj ET Q BT /F2 10.50 Tf ET q 0 0 0 rg BT 244.00 462.64 Td (PriceUp10%) Tj ET Q BT /F2 10.50 Tf ET q 0 0 0 rg BT 320.05 462.64 Td (PriceDown10%) Tj ET Q BT /F2 10.50 Tf ET q 0 0 0 rg BT 409.00 462.64 Td (PriceUp10%) Tj ET Q BT /F2 10.50 Tf ET q 0 0 0 rg BT 483.55 462.64 Td (PriceDown10%) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 446.88 Td (Mark-to-market changes reported in:) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 308.50 446.88 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 397.50 446.88 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 473.50 446.88 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 559.50 446.88 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 58.50 430.88 Td (Regulatory asset \(a\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 308.50 430.88 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 397.50 430.88 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 473.50 430.88 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 559.50 430.88 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 70.50 414.88 Td (Electricity) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 242.50 414.88 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 301.90 414.88 Td (1) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 318.50 414.88 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 387.05 414.93 Td (\(1) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 396.65 414.88 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 407.50 414.88 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 461.15 414.88 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 483.50 414.88 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 547.15 414.88 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 70.50 398.88 Td (Natural gas) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 296.15 398.88 Td (53) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 381.30 398.93 Td (\(53) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 396.65 398.88 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 461.15 398.88 Td (55) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 543.30 398.93 Td (\(55) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 558.65 398.88 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 52.50 382.88 Td (T) Tj ET Q q 0 0 0 rg BT 58.72 382.88 Td (otal) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 242.50 382.88 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 296.15 382.88 Td (54) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 318.50 382.88 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 381.30 382.93 Td (\(54) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 396.65 382.88 Td (\)) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 407.50 382.88 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 461.15 382.88 Td (55) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 483.50 382.88 Td ($) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 543.30 382.93 Td (\(55) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 558.65 382.88 Td (\)) Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 76.50 350.75 Td (\(a\) ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 350.75 Td (These contracts are economic hedges of our forecasted purchases of natural gas and electricity) Tj ET Q q 0 0 0 rg BT 536.69 350.75 Td (. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 336.95 Td (The impact of these hypothetical price movements would substantially of) Tj ET Q q 0 0 0 rg BT 440.87 336.95 Td (fset the impact that these ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 323.15 Td (same price movements would have on the physical exposures being hedged. ) Tj ET Q q 0 0 0 rg BT 459.38 323.15 Td (T) Tj ET Q q 0 0 0 rg BT 465.61 323.15 Td (o the extent the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 309.35 Td (amounts are eligible for inclusion in the PSA, the amounts are recorded as either a regulatory asset ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 103.50 295.55 Td (or liability) Tj ET Q q 0 0 0 rg BT 150.98 295.55 Td (.) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 267.95 Td (Cr) Tj ET Q q 0 0 0 rg BT 62.70 267.95 Td (edit Risk) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 240.35 Td (W) Tj ET Q q 0 0 0 rg BT 95.43 240.35 Td (e are exposed to losses in the event of non-performance or non-payment by counterparties. See Note ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 226.55 Td (7 for a discussion of our credit valuation adjustment policy) Tj ET Q q 0 0 0 rg BT 319.91 226.55 Td (.) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 185.15 Td (Item 3. ) Tj ET Q q 0 0 0 rg BT 85.50 185.15 Td ( ) Tj ET Q q 0 0 0 rg BT 121.50 185.15 Td (QUANTIT) Tj ET Q q 0 0 0 rg BT 174.32 185.15 Td (A) Tj ET Q q 0 0 0 rg BT 181.78 185.15 Td (TIVE ) Tj ET Q q 0 0 0 rg BT 212.14 185.15 Td (AND QUALIT) Tj ET Q q 0 0 0 rg BT 284.45 185.15 Td (A) Tj ET Q q 0 0 0 rg BT 291.90 185.15 Td (TIVE DISCLOSURES ) Tj ET Q q 0 0 0 rg BT 406.31 185.15 Td (ABOUT) Tj ET Q q 0 0 0 rg BT 447.00 185.15 Td ( MARKET) Tj ET Q q 0 0 0 rg BT 501.41 185.15 Td ( RISK) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 171.35 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 157.55 Td (See "Key Financial Drivers" and "Market and Credit Risks" in Item 2 above for a discussion of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 143.75 Td (quantitative and qualitative disclosures about market risks.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 129.95 Td () Tj ET Q endstream endobj 175 0 obj <> endobj 176 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 32.55 Td (85) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 743.75 Td (Item 4. ) Tj ET Q q 0 0 0 rg BT 85.50 743.75 Td ( ) Tj ET Q q 0 0 0 rg BT 121.50 743.75 Td ( CONTROLS ) Tj ET Q q 0 0 0 rg BT 191.16 743.75 Td (AND PROCEDURES) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 729.95 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 716.15 Td (\(a\)) Tj ET Q BT /F1 3.00 Tf ET q 0 0 0 rg BT 98.26 716.15 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 122.26 716.15 Td ( Disclosure Controls and Procedures) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 702.35 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 688.55 Td (The term "disclosure controls and procedures" means controls and other procedures of a company that ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 674.75 Td (are designed to ensure that information required to be disclosed by a company in the reports that it files or ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 660.95 Td (submits under the Securities Exchange ) Tj ET Q q 0 0 0 rg BT 229.95 660.95 Td (Act of 1934, as amended \(the "Exchange ) Tj ET Q q 0 0 0 rg BT 420.50 660.95 Td (Act"\) \(15 U.S.C. 78a ) Tj ET Q BT /F5 11.50 Tf ET q 0 0 0 rg BT 520.06 660.95 Td (et seq) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 546.57 660.95 Td (.\), ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 647.15 Td (is recorded, processed, summarized and reported, within the time periods specified in the SEC) Tj ET Q q 0 0 0 rg BT 486.39 647.15 Td (s rulesand ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 633.35 Td (forms. Disclosure controls and procedures include, without limitation, controls and procedures designed to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 619.55 Td (ensure that information required to be disclosed by a company in the reports that it files or submits under the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 605.75 Td (Exchange ) Tj ET Q q 0 0 0 rg BT 97.08 605.75 Td (Act is accumulated and communicated to a company) Tj ET Q q 0 0 0 rg BT 343.29 605.75 Td (s management, including its principal ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 591.95 Td (executive and principal financial of) Tj ET Q q 0 0 0 rg BT 212.14 591.95 Td (ficers, or persons performing similar functions, as appropriate to allow ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 578.15 Td (timely decisions regarding required disclosure.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 564.35 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 550.55 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 127.77 550.55 Td (W) Tj ET Q q 0 0 0 rg BT 137.70 550.55 Td (est) Tj ET Q q 0 0 0 rg BT 153.67 550.55 Td (s management, with the participation of Pinnacle ) Tj ET Q q 0 0 0 rg BT 381.49 550.55 Td (W) Tj ET Q q 0 0 0 rg BT 391.42 550.55 Td (est) Tj ET Q q 0 0 0 rg BT 407.39 550.55 Td (s Chief Executive Of) Tj ET Q q 0 0 0 rg BT 503.95 550.55 Td (ficer and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 536.75 Td (Chief Financial Of) Tj ET Q q 0 0 0 rg BT 135.52 536.75 Td (ficer) Tj ET Q q 0 0 0 rg BT 156.13 536.75 Td (, have evaluated the ef) Tj ET Q q 0 0 0 rg BT 259.04 536.75 Td (fectiveness of Pinnacle ) Tj ET Q q 0 0 0 rg BT 367.73 536.75 Td (W) Tj ET Q q 0 0 0 rg BT 377.66 536.75 Td (est) Tj ET Q q 0 0 0 rg BT 393.64 536.75 Td (s disclosure controls and procedures ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 522.95 Td (as of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 74.41 522.95 Td (March31, 2020) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 147.55 522.95 Td (. Based on that evaluation, Pinnacle ) Tj ET Q q 0 0 0 rg BT 317.57 522.95 Td (W) Tj ET Q q 0 0 0 rg BT 327.50 522.95 Td (est) Tj ET Q q 0 0 0 rg BT 343.47 522.95 Td (s Chief Executive Of) Tj ET Q q 0 0 0 rg BT 440.03 522.95 Td (ficer and Chief Financial ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 509.15 Td (Of) Tj ET Q q 0 0 0 rg BT 61.43 509.15 Td (ficer have concluded that, as of that date, Pinnacle ) Tj ET Q q 0 0 0 rg BT 295.28 509.15 Td (W) Tj ET Q q 0 0 0 rg BT 305.21 509.15 Td (est) Tj ET Q q 0 0 0 rg BT 321.18 509.15 Td (s disclosure controls and procedures were ef) Tj ET Q q 0 0 0 rg BT 524.71 509.15 Td (fective.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 495.35 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 481.55 Td (APS) Tj ET Q q 0 0 0 rg BT 109.79 481.55 Td (s management, with the participation of ) Tj ET Q q 0 0 0 rg BT 294.71 481.55 Td (APS) Tj ET Q q 0 0 0 rg BT 319.00 481.55 Td (s Chief Executive Of) Tj ET Q q 0 0 0 rg BT 415.56 481.55 Td (ficer and Chief Financial ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 467.75 Td (Of) Tj ET Q q 0 0 0 rg BT 61.43 467.75 Td (ficer) Tj ET Q q 0 0 0 rg BT 82.03 467.75 Td (, has evaluated the ef) Tj ET Q q 0 0 0 rg BT 178.57 467.75 Td (fectiveness of ) Tj ET Q q 0 0 0 rg BT 244.35 467.75 Td (APS) Tj ET Q q 0 0 0 rg BT 268.65 467.75 Td (s disclosure controls and procedures as of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 463.14 467.75 Td (March31, 2020) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 536.28 467.75 Td (. ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 453.95 Td (Based on that evaluation, ) Tj ET Q q 0 0 0 rg BT 167.99 453.95 Td (APS) Tj ET Q q 0 0 0 rg BT 192.28 453.95 Td (s Chief Executive Of) Tj ET Q q 0 0 0 rg BT 288.84 453.95 Td (ficer and Chief Financial Of) Tj ET Q q 0 0 0 rg BT 418.28 453.95 Td (ficer have concluded that, as of ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 440.15 Td (that date, ) Tj ET Q q 0 0 0 rg BT 93.89 440.15 Td (APS) Tj ET Q q 0 0 0 rg BT 118.18 440.15 Td (s disclosure controls and procedures were ef) Tj ET Q q 0 0 0 rg BT 321.71 440.15 Td (fective.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 426.35 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 412.55 Td (\(b\)) Tj ET Q BT /F1 3.00 Tf ET q 0 0 0 rg BT 98.91 412.55 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 122.91 412.55 Td ( Changes in Internal Control Over Financial Reporting) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 398.75 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 384.95 Td (The term "internal control over financial reporting" \(defined in SEC Rule13a-15\(f\)\) refers to the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 371.15 Td (process of a company that is designed to provide reasonable assurance regarding the reliability of financial ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 357.35 Td (reporting and the preparation of financial statements for external purposes in accordance with GAAP) Tj ET Q q 0 0 0 rg BT 512.86 357.35 Td (.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 343.55 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 329.75 Td (No change in Pinnacle ) Tj ET Q q 0 0 0 rg BT 191.96 329.75 Td (W) Tj ET Q q 0 0 0 rg BT 201.89 329.75 Td (est) Tj ET Q q 0 0 0 rg BT 217.86 329.75 Td (s or ) Tj ET Q q 0 0 0 rg BT 237.03 329.75 Td (APS) Tj ET Q q 0 0 0 rg BT 261.32 329.75 Td (s internal control over financial reporting occurred during the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 315.95 Td (fiscal quarter ended ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 143.05 315.95 Td (March31, 2020) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 216.19 315.95 Td ( that materially af) Tj ET Q q 0 0 0 rg BT 297.41 315.95 Td (fected, or is reasonably likely to materially af) Tj ET Q q 0 0 0 rg BT 506.04 315.95 Td (fect, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 302.15 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 91.77 302.15 Td (W) Tj ET Q q 0 0 0 rg BT 101.70 302.15 Td (est) Tj ET Q q 0 0 0 rg BT 117.67 302.15 Td (s or ) Tj ET Q q 0 0 0 rg BT 136.84 302.15 Td (APS) Tj ET Q q 0 0 0 rg BT 161.14 302.15 Td (s internal control over financial reporting.) Tj ET Q endstream endobj 177 0 obj <> endobj 178 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 32.55 Td (86) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 212.85 743.75 Td (P) Tj ET Q q 0 0 0 rg BT 219.02 743.75 Td (AR) Tj ET Q q 0 0 0 rg BT 235.23 743.75 Td (T) Tj ET Q q 0 0 0 rg BT 242.69 743.75 Td ( II ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 257.39 743.75 Td ( ) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 269.89 743.75 Td (OTHER INFORMA) Tj ET Q q 0 0 0 rg BT 369.67 743.75 Td (TION ) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 716.15 Td (Item 1. LEGAL) Tj ET Q q 0 0 0 rg BT 178.24 716.15 Td ( PROCEEDINGS) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 702.35 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 688.55 Td (See "Business of ) Tj ET Q q 0 0 0 rg BT 165.27 688.55 Td (Arizona Public Service Company Environmental Matters" in Item 1 of the 2019 ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 674.75 Td (Form10-K with regard to pending or threatened litigation and other disputes.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 660.95 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 647.15 Td (See Note 4 for ) Tj ET Q q 0 0 0 rg BT 154.48 647.15 Td (ACC and FERC-related matters.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 633.35 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 619.55 Td (See Note 8 for information regarding environmental matters and Superfund-related matters.) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 591.95 Td (Item 1A. RISK F) Tj ET Q q 0 0 0 rg BT 175.46 591.95 Td (ACT) Tj ET Q q 0 0 0 rg BT 199.54 591.95 Td (ORS) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 578.15 Td () Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 564.35 Td (In addition to the other information set forth in this report, you should carefully consider the factors ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 550.55 Td (discussed in PartI,Item 1A) Tj ET Q q 0 0 0 rg BT 176.63 550.55 Td ( Risk Factors in the 2019 Form10-K, which could materially af) Tj ET Q q 0 0 0 rg BT 484.00 550.55 Td (fect the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 536.75 Td (business, financial condition, cash flows or future results of Pinnacle ) Tj ET Q q 0 0 0 rg BT 368.67 536.75 Td (W) Tj ET Q q 0 0 0 rg BT 378.61 536.75 Td (est and ) Tj ET Q q 0 0 0 rg BT 413.10 536.75 Td (APS. ) Tj ET Q q 0 0 0 rg BT 442.62 536.75 Td (The risks described in the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 522.95 Td (2019 Form10-K are not the only risks facing Pinnacle ) Tj ET Q q 0 0 0 rg BT 302.89 522.95 Td (W) Tj ET Q q 0 0 0 rg BT 312.82 522.95 Td (est and ) Tj ET Q q 0 0 0 rg BT 347.32 522.95 Td (APS. ) Tj ET Q q 0 0 0 rg BT 376.40 522.95 Td (Additional risks and uncertainties not ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 509.15 Td (currently known to us or that we currently deem to be immaterial also may materially adversely af) Tj ET Q q 0 0 0 rg BT 501.48 509.15 Td (fect the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 495.35 Td (business, financial condition, cash flows and/or operating results of Pinnacle ) Tj ET Q q 0 0 0 rg BT 404.44 495.35 Td (W) Tj ET Q q 0 0 0 rg BT 414.38 495.35 Td (est and ) Tj ET Q q 0 0 0 rg BT 448.87 495.35 Td (APS.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 467.75 Td (The risk factor below is an update to our 2019 Form 10-K.) Tj ET Q BT /F4 11.50 Tf ET q 0 0 0 rg BT 49.50 440.15 Td (The outbreak of the Coronavirus \(COVID-19\) pandemic could negatively af) Tj ET Q q 0 0 0 rg BT 420.17 440.15 Td (fect our business.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 412.55 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 412.55 Td (The recent outbreak of COVID-19 is a rapidly developing situation around the globe that has led to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 398.75 Td (economic disruption and volatility in the financial markets. ) Tj ET Q q 0 0 0 rg BT 324.27 398.75 Td (The continued spread of COVID-19 and ef) Tj ET Q q 0 0 0 rg BT 521.42 398.75 Td (forts to ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 384.95 Td (contain the virus could decrease demand for ener) Tj ET Q q 0 0 0 rg BT 275.05 384.95 Td (gy) Tj ET Q q 0 0 0 rg BT 285.80 384.95 Td (, lower economic growth, impact our employees and ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 371.15 Td (contractors, cause disruptions in our supply chain, increase certain costs, further increase volatility in the ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 357.35 Td (capital markets \(and result in increases in the cost of capital or an inability to access the capital markets or ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 343.55 Td (draw on available credit facilities\), delay the completion of capital or other construction projects and other ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 329.75 Td (operations and maintenance activities, delay payments or increase uncollectable accounts or cause other ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 315.95 Td (unpredictable events, each of which could adversely af) Tj ET Q q 0 0 0 rg BT 301.55 315.95 Td (fect our business, results of operations, cash flows or ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 302.15 Td (financial condition.) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 274.55 Td ( ) Tj ET Q q 0 0 0 rg BT 85.50 274.55 Td (In the near term, as a result of the COVID-19 pandemic, in mid-March 2020 we drew on our revolving ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 260.75 Td (credit facilities as a result of the commercial paper markets failing to function normally) Tj ET Q q 0 0 0 rg BT 450.80 260.75 Td (. ) Tj ET Q q 0 0 0 rg BT 458.79 260.75 Td (Additionally) Tj ET Q q 0 0 0 rg BT 516.18 260.75 Td (, in ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 246.95 Td (March and ) Tj ET Q q 0 0 0 rg BT 101.23 246.95 Td (April 2020 we experienced a net decrease in weather normalized retail electricity sales as compared ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 233.15 Td (to 2019. ) Tj ET Q q 0 0 0 rg BT 92.31 233.15 Td (APS is also anticipating an increase in bad debt expense associated with the COVID-19 pandemic ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 219.35 Td (that will result in a negative impact to our 2020 operating results. Despite our ef) Tj ET Q q 0 0 0 rg BT 420.40 219.35 Td (forts to manage the impacts, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 205.55 Td (the degree to which the COVID-19 pandemic and related actions ultimately impact our business, financial ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 191.75 Td (position, results of operations and cash flows will depend on factors beyond our control including the duration, ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 177.95 Td (spread and severity of the outbreak, the actions taken to contain COVID-19 and mitigate its public health ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 164.15 Td (ef) Tj ET Q q 0 0 0 rg BT 58.23 164.15 Td (fects, the impact on the U.S. and global economies and demand for ener) Tj ET Q q 0 0 0 rg BT 389.19 164.15 Td (gy) Tj ET Q q 0 0 0 rg BT 399.94 164.15 Td (, and how quickly and to what ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 150.35 Td (extent normal economic and operating conditions resume.) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 122.75 Td (Item 5. OTHER INFORMA) Tj ET Q q 0 0 0 rg BT 229.76 122.75 Td (TION) Tj ET Q BT /F2 11.50 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0.12941176470588237 0.1450980392156863 0.1607843137254902 rg BT 49.50 95.15 Td (Labor) Tj ET Q q 0.12941176470588237 0.1450980392156863 0.1607843137254902 rg BT 79.96 95.15 Td ( Union Matter) Tj ET Q BT /F1 11.00 Tf ET q 0.12941176470588237 0.1450980392156863 0.1607843137254902 rg BT 49.50 67.55 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0.12941176470588237 0.1450980392156863 0.1607843137254902 rg BT 85.50 67.55 Td (Approximately 1,300 ) Tj ET Q q 0.12941176470588237 0.1450980392156863 0.1607843137254902 rg BT 186.12 67.55 Td (APS employees are union employees, represented by the International ) Tj ET Q BT /F1 11.50 Tf ET q 0.12941176470588237 0.1450980392156863 0.1607843137254902 rg BT 49.50 53.75 Td (Brotherhood of Electrical ) Tj ET Q q 0.12941176470588237 0.1450980392156863 0.1607843137254902 rg BT 169.68 53.75 Td (W) Tj ET Q q 0.12941176470588237 0.1450980392156863 0.1607843137254902 rg BT 179.61 53.75 Td (orkers \("IBEW"\). In March 2020, the Company concluded negotiations with the ) Tj ET Q endstream endobj 179 0 obj <> endobj 180 0 obj <> stream BT /F1 11.50 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 300.25 32.55 Td (87) Tj ET Q BT /F1 11.50 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0.12941176470588237 0.1450980392156863 0.1607843137254902 rg BT 49.50 743.55 Td (IBEW) Tj ET Q q 0.12941176470588237 0.1450980392156863 0.1607843137254902 rg BT 78.67 743.55 Td ( and approved an extension of the contract that was set to expire on ) Tj ET Q q 0.12941176470588237 0.1450980392156863 0.1607843137254902 rg BT 390.36 743.55 Td (April 1, 2020 and that will now ) Tj ET Q BT /F1 11.50 Tf ET q 0.12941176470588237 0.1450980392156863 0.1607843137254902 rg BT 49.50 729.75 Td (expire on ) Tj ET Q q 0.12941176470588237 0.1450980392156863 0.1607843137254902 rg BT 94.85 729.75 Td (April 1, 2023. Under the extension, union members received wage increases for 2020, 2021, and ) Tj ET Q BT /F1 11.50 Tf ET q 0.12941176470588237 0.1450980392156863 0.1607843137254902 rg BT 49.50 715.95 Td (2022. ) Tj ET Q BT /F1 11.50 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 49.50 688.35 Td ( ) Tj ET Q endstream endobj 181 0 obj <> endobj 182 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 32.55 Td (88) Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 49.50 743.75 Td (Item 6.) Tj ET Q BT /F2 3.00 Tf ET q 0 0 0 rg BT 83.99 743.75 Td () Tj ET Q BT /F2 11.50 Tf ET q 0 0 0 rg BT 84.74 743.75 Td ( EXHIBITS) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 729.95 Td (\(a\)) Tj ET Q BT /F1 3.00 Tf ET q 0 0 0 rg BT 98.26 729.95 Td ( ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 99.01 729.95 Td ( Exhibits ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 59.90 702.68 Td (ExhibitNo.) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 119.00 701.17 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 148.75 702.68 Td (Registrant\(s\)) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 223.00 701.17 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 377.20 702.68 Td (Description) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 69.00 687.63 Td (10.1) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 137.10 687.63 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 181.31 687.63 Td (W) Tj ET Q q 0 0 0 rg BT 192.05 687.63 Td (est) Tj ET Q BT /F1 12.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.59 w 0 i [] 0 d 1 J 1 j 3 M 235.5 686.030078125 m 553.962890625 686.030078125 l s q 0 0 1 rg BT 235.50 687.63 Td (Form of Performance Share ) Tj ET Q q 0 0 1 rg BT 371.46 687.63 Td (A) Tj ET Q q 0 0 1 rg BT 379.03 687.63 Td (ward ) Tj ET Q q 0 0 1 rg BT 405.35 687.63 Td (Agreement under the Pinnacle ) Tj ET Q BT /F1 12.00 Tf ET 0 0 1 RG /GS0 gs 0.59 w 0 i [] 0 d 1 J 1 j 3 M 235.5 674.030078125 m 514.294921875 674.030078125 l s q 0 0 1 rg BT 235.50 675.63 Td (W) Tj ET Q q 0 0 1 rg BT 245.87 675.63 Td (est Capital Corporation 2012 Long-T) Tj ET Q q 0 0 1 rg BT 423.66 675.63 Td (erm Incentive Plan) Tj ET Q BT /F1 12.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 12.00 Tf ET q 0 0 0 rg BT 69.00 652.63 Td (10.2) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 137.10 652.63 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 181.31 652.63 Td (W) Tj ET Q q 0 0 0 rg BT 192.05 652.63 Td (est) Tj ET Q BT /F1 12.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.59 w 0 i [] 0 d 1 J 1 j 3 M 235.5 651.030078125 m 541.03125 651.030078125 l s q 0 0 1 rg BT 235.50 652.63 Td (364-Day ) Tj ET Q q 0 0 1 rg BT 280.27 652.63 Td (T) Tj ET Q q 0 0 1 rg BT 286.76 652.63 Td (erm Loan, dated as of May 5, 2020, among Pinnacle ) Tj ET Q BT /F1 12.00 Tf ET 0 0 1 RG /GS0 gs 0.59 w 0 i [] 0 d 1 J 1 j 3 M 235.5 639.030078125 m 538.34765625 639.030078125 l s q 0 0 1 rg BT 235.50 640.63 Td (W) Tj ET Q q 0 0 1 rg BT 245.87 640.63 Td (est, as Borrower) Tj ET Q q 0 0 1 rg BT 323.70 640.63 Td (, PNC Bank, National ) Tj ET Q q 0 0 1 rg BT 434.03 640.63 Td (Association, as ) Tj ET Q q 0 0 1 rg BT 509.02 640.63 Td (Agent) Tj ET Q BT /F1 12.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 12.00 Tf ET q 0 0 0 rg BT 69.00 617.63 Td (31.1) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 112.50 591.21 Td () Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 137.10 617.63 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 181.31 617.63 Td (W) Tj ET Q q 0 0 0 rg BT 192.05 617.63 Td (est) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 216.50 591.21 Td () Tj ET Q BT /F1 12.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.59 w 0 i [] 0 d 1 J 1 j 3 M 235.5 616.030078125 m 517.65234375 616.030078125 l s q 0 0 1 rg BT 235.50 617.63 Td (Certificate of Jef) Tj ET Q q 0 0 1 rg BT 315.91 617.63 Td (frey B. Guldner) Tj ET Q q 0 0 1 rg BT 391.07 617.63 Td (, Chief Executive Of) Tj ET Q q 0 0 1 rg BT 490.15 617.63 Td (ficer) Tj ET Q q 0 0 1 rg BT 511.65 617.63 Td (, ) Tj ET Q BT /F1 12.00 Tf ET 0 0 1 RG /GS0 gs 0.59 w 0 i [] 0 d 1 J 1 j 3 M 235.5 604.030078125 m 544.74609375 604.030078125 l s q 0 0 1 rg BT 235.50 605.63 Td (pursuant to Rule13a-14\(a\)and Rule15d-14\(a\)of the Securities ) Tj ET Q BT /F1 12.00 Tf ET 0 0 1 RG /GS0 gs 0.59 w 0 i [] 0 d 1 J 1 j 3 M 235.5 592.030078125 m 364.78125 592.030078125 l s q 0 0 1 rg BT 235.50 593.63 Td (Exchange ) Tj ET Q q 0 0 1 rg BT 285.15 593.63 Td (Act, as amended) Tj ET Q BT /F1 12.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 12.00 Tf ET q 0 0 0 rg BT 69.00 570.63 Td (31.2) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 112.50 544.21 Td () Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 137.10 570.63 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 181.31 570.63 Td (W) Tj ET Q q 0 0 0 rg BT 192.05 570.63 Td (est) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 216.50 544.21 Td () Tj ET Q BT /F1 12.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.59 w 0 i [] 0 d 1 J 1 j 3 M 235.5 569.030078125 m 522.990234375 569.030078125 l s q 0 0 1 rg BT 235.50 570.63 Td (Certificate of ) Tj ET Q q 0 0 1 rg BT 301.92 570.63 Td (Theodore N. Geisler) Tj ET Q q 0 0 1 rg BT 399.73 570.63 Td (, Chief Financial Of) Tj ET Q q 0 0 1 rg BT 495.49 570.63 Td (ficer) Tj ET Q q 0 0 1 rg BT 516.99 570.63 Td (, ) Tj ET Q BT /F1 12.00 Tf ET 0 0 1 RG /GS0 gs 0.59 w 0 i [] 0 d 1 J 1 j 3 M 235.5 557.030078125 m 544.74609375 557.030078125 l s q 0 0 1 rg BT 235.50 558.63 Td (pursuant to Rule13a-14\(a\)and Rule15d-14\(a\)of the Securities ) Tj ET Q BT /F1 12.00 Tf ET 0 0 1 RG /GS0 gs 0.59 w 0 i [] 0 d 1 J 1 j 3 M 235.5 545.030078125 m 364.78125 545.030078125 l s q 0 0 1 rg BT 235.50 546.63 Td (Exchange ) Tj ET Q q 0 0 1 rg BT 285.15 546.63 Td (Act, as amended) Tj ET Q BT /F1 12.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 12.00 Tf ET q 0 0 0 rg BT 69.00 523.63 Td (31.3) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 112.50 497.21 Td () Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 159.95 523.63 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 216.50 497.21 Td () Tj ET Q BT /F1 12.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.59 w 0 i [] 0 d 1 J 1 j 3 M 235.5 522.030078125 m 517.65234375 522.030078125 l s q 0 0 1 rg BT 235.50 523.63 Td (Certificate of Jef) Tj ET Q q 0 0 1 rg BT 315.91 523.63 Td (frey B. Guldner) Tj ET Q q 0 0 1 rg BT 391.07 523.63 Td (, Chief Executive Of) Tj ET Q q 0 0 1 rg BT 490.15 523.63 Td (ficer) Tj ET Q q 0 0 1 rg BT 511.65 523.63 Td (, ) Tj ET Q BT /F1 12.00 Tf ET 0 0 1 RG /GS0 gs 0.59 w 0 i [] 0 d 1 J 1 j 3 M 235.5 510.03007812500005 m 544.74609375 510.03007812500005 l s q 0 0 1 rg BT 235.50 511.63 Td (pursuant to Rule13a-14\(a\)and Rule15d-14\(a\)of the Securities ) Tj ET Q BT /F1 12.00 Tf ET 0 0 1 RG /GS0 gs 0.59 w 0 i [] 0 d 1 J 1 j 3 M 235.5 498.03007812500005 m 364.78125 498.03007812500005 l s q 0 0 1 rg BT 235.50 499.63 Td (Exchange ) Tj ET Q q 0 0 1 rg BT 285.15 499.63 Td (Act, as amended) Tj ET Q BT /F1 12.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 12.00 Tf ET q 0 0 0 rg BT 69.00 476.63 Td (31.4) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 112.50 450.21 Td () Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 159.95 476.63 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 216.50 450.21 Td () Tj ET Q BT /F1 12.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.59 w 0 i [] 0 d 1 J 1 j 3 M 235.5 475.03007812500005 m 522.990234375 475.03007812500005 l s q 0 0 1 rg BT 235.50 476.63 Td (Certificate of ) Tj ET Q q 0 0 1 rg BT 301.92 476.63 Td (Theodore N. Geisler) Tj ET Q q 0 0 1 rg BT 399.73 476.63 Td (, Chief Financial Of) Tj ET Q q 0 0 1 rg BT 495.49 476.63 Td (ficer) Tj ET Q q 0 0 1 rg BT 516.99 476.63 Td (, ) Tj ET Q BT /F1 12.00 Tf ET 0 0 1 RG /GS0 gs 0.59 w 0 i [] 0 d 1 J 1 j 3 M 235.5 463.03007812500005 m 544.74609375 463.03007812500005 l s q 0 0 1 rg BT 235.50 464.63 Td (pursuant to Rule13a-14\(a\)and Rule15d-14\(a\)of the Securities ) Tj ET Q BT /F1 12.00 Tf ET 0 0 1 RG /GS0 gs 0.59 w 0 i [] 0 d 1 J 1 j 3 M 235.5 451.03007812500005 m 364.78125 451.03007812500005 l s q 0 0 1 rg BT 235.50 452.63 Td (Exchange ) Tj ET Q q 0 0 1 rg BT 285.15 452.63 Td (Act, as amended) Tj ET Q BT /F1 12.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 12.00 Tf ET q 0 0 0 rg BT 66.00 429.63 Td (32.1*) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 112.50 403.21 Td () Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 137.10 429.63 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 181.31 429.63 Td (W) Tj ET Q q 0 0 0 rg BT 192.05 429.63 Td (est) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 216.50 403.21 Td () Tj ET Q BT /F1 12.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.59 w 0 i [] 0 d 1 J 1 j 3 M 235.5 428.03007812500005 m 527.841796875 428.03007812500005 l s q 0 0 1 rg BT 235.50 429.63 Td (Certification of Chief Executive Of) Tj ET Q q 0 0 1 rg BT 405.22 429.63 Td (ficer and Chief Financial ) Tj ET Q BT /F1 12.00 Tf ET 0 0 1 RG /GS0 gs 0.59 w 0 i [] 0 d 1 J 1 j 3 M 235.5 416.03007812500005 m 549.75 416.03007812500005 l s q 0 0 1 rg BT 235.50 417.63 Td (Of) Tj ET Q q 0 0 1 rg BT 247.95 417.63 Td (ficer) Tj ET Q q 0 0 1 rg BT 269.44 417.63 Td (, pursuant to 18 U.S.C. Section1350, as adopted pursuant ) Tj ET Q BT /F1 12.00 Tf ET 0 0 1 RG /GS0 gs 0.59 w 0 i [] 0 d 1 J 1 j 3 M 235.5 404.03007812500005 m 474.78515625 404.03007812500005 l s q 0 0 1 rg BT 235.50 405.63 Td (to Section906 of the Sarbanes-Oxley ) Tj ET Q q 0 0 1 rg BT 417.46 405.63 Td (Act of 2002) Tj ET Q BT /F1 12.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 12.00 Tf ET q 0 0 0 rg BT 66.00 382.63 Td (32.2*) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 112.50 356.21 Td () Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 159.95 382.63 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 216.50 356.21 Td () Tj ET Q BT /F1 12.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.59 w 0 i [] 0 d 1 J 1 j 3 M 235.5 381.03007812500005 m 527.841796875 381.03007812500005 l s q 0 0 1 rg BT 235.50 382.63 Td (Certification of Chief Executive Of) Tj ET Q q 0 0 1 rg BT 405.22 382.63 Td (ficer and Chief Financial ) Tj ET Q BT /F1 12.00 Tf ET 0 0 1 RG /GS0 gs 0.59 w 0 i [] 0 d 1 J 1 j 3 M 235.5 369.03007812500005 m 549.75 369.03007812500005 l s q 0 0 1 rg BT 235.50 370.63 Td (Of) Tj ET Q q 0 0 1 rg BT 247.95 370.63 Td (ficer) Tj ET Q q 0 0 1 rg BT 269.44 370.63 Td (, pursuant to 18 U.S.C. Section1350, as adopted pursuant ) Tj ET Q BT /F1 12.00 Tf ET 0 0 1 RG /GS0 gs 0.59 w 0 i [] 0 d 1 J 1 j 3 M 235.5 357.03007812500005 m 474.78515625 357.03007812500005 l s q 0 0 1 rg BT 235.50 358.63 Td (to Section906 of the Sarbanes-Oxley ) Tj ET Q q 0 0 1 rg BT 417.46 358.63 Td (Act of 2002) Tj ET Q BT /F1 12.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 12.00 Tf ET q 0 0 0 rg BT 59.30 335.63 Td (101.INS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 112.50 309.21 Td () Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 137.10 335.63 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 181.20 335.63 Td (W) Tj ET Q q 0 0 0 rg BT 191.57 335.63 Td (est) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 159.95 323.63 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 216.50 309.21 Td () Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 235.50 335.63 Td (XBRL) Tj ET Q q 0 0 0 rg BT 267.28 335.63 Td ( Instance Document - the instance document does not) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 235.50 323.63 Td (appear in the interactive data file because its XBRL) Tj ET Q q 0 0 0 rg BT 483.18 323.63 Td ( tags are) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 235.50 311.63 Td (embedded within the inline XBRL) Tj ET Q q 0 0 0 rg BT 401.25 311.63 Td ( document.) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 57.30 288.63 Td (101.SCH) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 112.50 274.21 Td () Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 137.10 288.63 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 181.20 288.63 Td (W) Tj ET Q q 0 0 0 rg BT 191.57 288.63 Td (est) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 159.95 276.63 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 216.50 274.21 Td () Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 235.50 288.63 Td (XBRL) Tj ET Q q 0 0 0 rg BT 267.28 288.63 Td ( ) Tj ET Q q 0 0 0 rg BT 269.95 288.63 Td (T) Tj ET Q q 0 0 0 rg BT 276.75 288.63 Td (axonomy Extension Schema Document) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 57.20 253.63 Td (101.CAL) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 112.50 239.21 Td () Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 137.10 253.63 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 181.20 253.63 Td (W) Tj ET Q q 0 0 0 rg BT 191.57 253.63 Td (est) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 159.95 241.63 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 216.50 239.21 Td () Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 235.50 253.63 Td (XBRL) Tj ET Q q 0 0 0 rg BT 267.28 253.63 Td ( ) Tj ET Q q 0 0 0 rg BT 269.95 253.63 Td (T) Tj ET Q q 0 0 0 rg BT 276.75 253.63 Td (axonomy Extension Calculation Linkbase Document) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 57.00 218.63 Td (101.LAB) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 112.50 204.21 Td () Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 137.10 218.63 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 181.20 218.63 Td (W) Tj ET Q q 0 0 0 rg BT 191.57 218.63 Td (est) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 159.95 206.63 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 216.50 204.21 Td () Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 235.50 218.63 Td (XBRL) Tj ET Q q 0 0 0 rg BT 267.28 218.63 Td ( ) Tj ET Q q 0 0 0 rg BT 269.95 218.63 Td (T) Tj ET Q q 0 0 0 rg BT 276.75 218.63 Td (axonomy Extension Label Linkbase Document) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 57.95 183.63 Td (101.PRE) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 112.50 169.21 Td () Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 137.10 183.58 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 181.20 183.58 Td (W) Tj ET Q q 0 0 0 rg BT 191.57 183.58 Td (est) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 159.95 171.58 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 216.50 169.21 Td () Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 235.50 183.63 Td (XBRL) Tj ET Q q 0 0 0 rg BT 267.28 183.63 Td ( ) Tj ET Q q 0 0 0 rg BT 269.95 183.63 Td (T) Tj ET Q q 0 0 0 rg BT 276.75 183.63 Td (axonomy Extension Presentation Linkbase Document) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 57.65 148.63 Td (101.DEF) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 112.50 134.21 Td () Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 137.10 148.58 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 181.20 148.58 Td (W) Tj ET Q q 0 0 0 rg BT 191.57 148.58 Td (est) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 159.95 136.58 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 216.50 134.21 Td () Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 235.50 148.63 Td (XBRL) Tj ET Q q 0 0 0 rg BT 267.28 148.63 Td ( ) Tj ET Q q 0 0 0 rg BT 269.95 148.63 Td (T) Tj ET Q q 0 0 0 rg BT 276.75 148.63 Td (axonomy Definition Linkbase Document) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 70.50 113.63 Td (104) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 137.10 113.58 Td (Pinnacle ) Tj ET Q q 0 0 0 rg BT 181.20 113.58 Td (W) Tj ET Q q 0 0 0 rg BT 191.57 113.58 Td (est) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 159.95 101.58 Td (APS) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 235.50 113.63 Td (Cover Page Interactive Data File \(formatted as Inline XBRL) Tj ET Q q 0 0 0 rg BT 524.96 113.63 Td ( and) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 235.50 101.63 Td (contained in Exhibit 101\)) Tj ET Q BT /F1 11.50 Tf ET BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 66.15 Td (________________________________) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 52.35 Td (*Furnished herewith as an Exhibit.) Tj ET Q endstream endobj 183 0 obj <> endobj 184 0 obj <> stream BT /F1 11.50 Tf ET q 0 0 0 rg BT 300.25 32.55 Td (89) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 743.55 Td (In addition, Pinnacle ) Tj ET Q q 0 0 0 rg BT 183.66 743.55 Td (W) Tj ET Q q 0 0 0 rg BT 193.60 743.55 Td (est and ) Tj ET Q q 0 0 0 rg BT 228.09 743.55 Td (APS hereby incorporate the following Exhibits pursuant to Exchange ) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 49.50 729.75 Td (Act Rule12b-32 and Regulation 229.10\(d\)by reference to the filings set forth below:) Tj ET Q BT /F1 11.50 Tf ET q 0 0 0 rg BT 85.50 715.95 Td () Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50 685.45 m 104 685.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 117 685.45 m 182 685.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 195 685.45 m 325 685.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 338 685.45 m 481 685.45 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494 685.45 m 555 685.45 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 689.68 Td (Exhibit No.) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 110.00 688.17 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 126.75 689.68 Td (Registrant\(s\)) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 188.00 688.17 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 239.70 689.68 Td (Description) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 331.00 688.17 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 358.50 689.68 Td (Pr) Tj ET Q q 0 0 0 rg BT 366.87 689.68 Td (eviouslyFiledasExhibit\(1\)) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 487.00 688.17 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 506.30 689.68 Td (Date Filed) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 52.50 674.63 Td () Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 106.50 674.63 Td () Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 149.00 674.63 Td () Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 184.50 674.63 Td () Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 197.50 674.63 Td () Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 327.50 674.63 Td () Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 340.50 674.63 Td () Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 483.50 674.63 Td () Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 496.50 674.63 Td () Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 84.50 660.63 Td (3.1) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 106.50 622.21 Td () Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 128.30 660.63 Td (Pinnacle) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 137.15 648.63 Td (W) Tj ET Q q 0 0 0 rg BT 148.00 648.63 Td (est) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 184.50 622.21 Td () Tj ET Q BT /F1 12.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.59 w 0 i [] 0 d 1 J 1 j 3 M 197.5 659.030078125 m 305.95703125 659.030078125 l s q 0 0 1 rg BT 197.50 660.63 Td (Pinnacle ) Tj ET Q q 0 0 1 rg BT 241.60 660.63 Td (W) Tj ET Q q 0 0 1 rg BT 251.97 660.63 Td (est Capital ) Tj ET Q BT /F1 12.00 Tf ET 0 0 1 RG /GS0 gs 0.59 w 0 i [] 0 d 1 J 1 j 3 M 197.5 647.030078125 m 300.490234375 647.030078125 l s q 0 0 1 rg BT 197.50 648.63 Td (Corporation Bylaws, ) Tj ET Q BT /F1 12.00 Tf ET 0 0 1 RG /GS0 gs 0.59 w 0 i [] 0 d 1 J 1 j 3 M 197.5 635.030078125 m 316.123046875 635.030078125 l s q 0 0 1 rg BT 197.50 636.63 Td (amended as of February ) Tj ET Q BT /F1 12.00 Tf ET 0 0 1 RG /GS0 gs 0.59 w 0 i [] 0 d 1 J 1 j 3 M 197.5 623.030078125 m 239.5 623.030078125 l s q 0 0 1 rg BT 197.50 624.63 Td (19, 2020) Tj ET Q BT /F1 12.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 1.00 Tf ET q 0 0 0 rg BT 327.50 622.21 Td () Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 340.50 660.63 Td (3.1 to Pinnacle ) Tj ET Q q 0 0 0 rg BT 415.05 660.63 Td (W) Tj ET Q q 0 0 0 rg BT 425.78 660.63 Td (est/APS) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 340.50 648.63 Td (February 25, 2020 Form8-) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 340.50 636.63 Td (K Report, File Nos. 1-8962) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 340.50 624.63 Td (and 1-4473) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 483.50 622.21 Td () Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 502.80 660.63 Td (2/25/2020) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 84.50 598.63 Td (3.2) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 106.50 560.21 Td () Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 128.30 598.63 Td (Pinnacle) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 137.15 586.63 Td (W) Tj ET Q q 0 0 0 rg BT 148.00 586.63 Td (est) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 184.50 560.21 Td () Tj ET Q BT /F1 12.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.59 w 0 i [] 0 d 1 J 1 j 3 M 197.5 597.030078125 m 322.791015625 597.030078125 l s q 0 0 1 rg BT 197.50 598.63 Td (Articles of Incorporation, ) Tj ET Q BT /F1 12.00 Tf ET 0 0 1 RG /GS0 gs 0.59 w 0 i [] 0 d 1 J 1 j 3 M 197.5 585.030078125 m 306.80078125 585.030078125 l s q 0 0 1 rg BT 197.50 586.63 Td (restated as of May21, ) Tj ET Q BT /F1 12.00 Tf ET 0 0 1 RG /GS0 gs 0.59 w 0 i [] 0 d 1 J 1 j 3 M 197.5 573.030078125 m 221.5 573.030078125 l s q 0 0 1 rg BT 197.50 574.63 Td (2008) Tj ET Q BT /F1 12.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL BT /F1 1.00 Tf ET q 0 0 0 rg BT 327.50 560.21 Td () Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 340.50 598.63 Td (3.1 to Pinnacle ) Tj ET Q q 0 0 0 rg BT 415.05 598.63 Td (W) Tj ET Q q 0 0 0 rg BT 425.78 598.63 Td (est/APS) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 340.50 586.63 Td (June30, 2008 Form10-Q) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 340.50 574.63 Td (Report, File Nos. 1-8962) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 340.50 562.63 Td (and 1-4473) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 483.50 560.21 Td () Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 508.80 598.63 Td (8/7/2008) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 84.50 536.63 Td (3.3) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 106.50 486.21 Td () Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 137.95 536.63 Td (APS) Tj ET Q BT /F1 1.00 Tf ET q 0 0 0 rg BT 184.50 486.21 Td () Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 197.50 536.63 Td (Articles of Incorporation,) Tj ET Q BT /F1 12.00 Tf ET q 0 0 0 rg BT 197.50 524.63 Td 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